DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS’S TRUST)
ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
REGISTERED CHARITY NO 214926
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DR WILLIAMS’S CHARITY (commonly known as Dr Williams's Trust) Registered Charity No. 214926 14 GORDON SQUARE, LONDON, WC1H 0AR
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
Trustees at 30 September 2021
Mr Alan R Ruston Mr Howard Hague Mr William P Featherstone Professor Grayson M Ditchfield Rev. Stephen L. Copson Mr Jeffrey J. Teagle Dr D. Jane Williams Rev. Clifford M. Reed
Professor J. Clyde G. Binfield Rev. Peter Hewis Mrs Margaret I. Kirk Mr Derek McAuley Rev. Daniel J. Costley Rev. Dr Ann S. Peart Rev. Michael Hopkins Rev. Martin Whitell
Director
Dr Hugh Maguire
Auditors
Shaw Gibbs (Audit) Ltd, 264 Banbury Road, Oxford OX2 7DY
Bankers
National Westminster Bank Plc, 214 High Holborn, London WC1V 7BX CAF Bank Ltd, Kings Hill, West Malling, Kent, ME19 4TA
Investment Managers
Charles Stanley & Co. Ltd, 3 St Andrew's Hill, Norwich, NR2 1AD
Solicitors
Whitehead Monckton Ltd, 72 King Street, Maidstone, Kent, ME14 1BL
The name of the charity is Dr Daniel Williams (commonly known as Dr Williams’s Trust), throughout these statements we refer to the charity as Dr Williams’s Charity
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DR WILLIAMS’S CHARITY Trustees report Year ended 30 September 2021
STRUCTURE GOVERNANCE AND MANAGEMENT
1. Governance
The charity originated under the Will of Dr Daniel Williams dated 26 June 1711. It is now governed by a Charity Commission Scheme sealed 15 July 1910, as varied by schemes sealed on 19 April 1955, 13 July 1972, 17 February 1978, and 19 February 1996, with the Trustees incorporated as a body.
2. Election of Trustees
The election of Trustees is governed by the Charity Commission Scheme sealed on 19 February 1996. All Trustees are appointed by a resolution of the Trustees, and no person is entitled to act as a Trustee until he or she has signed a declaration of acceptance and of willingness to act in the trusts of the Charity in the register set aside for the purpose. No other person or body is entitled to appoint Trustees.
3. Membership
Membership of the Trust consists of a minimum of 15 and a maximum of 18 Trustees. The quorum for Ordinary and Special Meetings is six trustees. Rev. David Cornick was appointed a Trustee in February 2021 but resigned in August 2021. Andrew Hill resigned as a Trustee in July 2021. Membership of the Trust on 30 September 2021 stood at 16, with two vacancies.
4. Organisational structure of the Charity
The business of the Trust is conducted by the paid officers of the Trust under the direction of the Director, who is answerable to the Trustees, and reports to the General Meeting and the two main committees covering Finance & Administration and the Library. Day-to-day issues are referred to the Chairman of the relevant committees. All actions and activities undertaken by the officers of the Trust are required to comply with the decisions and policies established by the Trustees. Three ordinary General Meetings were held during the year to receive and consider reports from Finance & Administration and the Library Committees, which met four and three times respectively during the year. The Trust has no formal links with any other charity.
5. Risk assessment
The Trustees have identified the main risks to which the Trust and Library is exposed. The risks to the Library building and contents are managed by the officers of the Trust who report to the Finance & Administration and the Library Committees. They consist of preservation and security, and involve the physical security of the building and contents from fire, theft and other perils, and the conservation and preservation of the books and manuscripts from environmental or other damage. The Trustees undertake regular revaluations of the building and contents for insurance purposes. A renewed valuation process was initiated in late September and will help inform the Trust’s decision making. The Trustees also manage employment and health & safety risks with NatWest Mentor.
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DR WILLIAMS’S CHARITY Trustees report continued Year end 30 September 2021
OBJECTIVES AND ACTIVITIES
1. Objectives
The purpose of the Trust is to support Dr Williams’ Library and to maintain an educated Protestant Dissenting Ministry in England and Wales.
2. Activities
The Trustees maintain Dr Williams’s Library, among the pre-eminent libraries for Protestant Dissent. It is a major independent research library of international importance with many visiting scholars and readers. The Trustees seek to increase knowledge of the Library's collections and to encourage greater interest in the collections and in the study of religious Dissent by holding conferences, seminars and symposiums. When funds permit, they also seek to encourage an educated dissenting ministry by offering grants to Protestant Dissenting Ministers in full time settlement with a congregation for postgraduate study. The Trust also provides meeting rooms for denominational and other relevant bodies and community groups.
3. Public Benefit
The Trustees take into account the Charity Commission’s guidance on public benefit and believe that the activities of Dr Williams’s Charity are in line with that guidance.
ACHIEVEMENTS AND PERFORMANCE
1. Review of charitable activities
The main activities of the charity are the education of Protestant Dissenting ministers and the Library. In 2020-21 the Trust in collaboration with Glasgow University supported a part-time MTh in Ministry, Theology and Practice taught in London; the Library was not available for teaching. For the academic year 2021 the Trust made five awards from the Dr Williams’s Glasgow Bursary Fund to ministers of the dissenting traditions; three further awards were made in September 2021.
2. Fundraising
The Trustees seek to raise funds for the Library by the Adopt scheme run by the Conservator, and by applying for grants towards specific Library projects. The building is occasionally used for film locations; in 2021 it was used for a brief scene in A Very British Scandal .
3. Legacies and gifts
The Trust received a very generous legacy of £3,000 towards the purchase of book and a further legacy £5,000 towards general operations. The Annesley Trust donated £15,000 towards the care of oil paintings.
4. Investment policy and performance
The Trustees exercise a general power of investment under the 2000 Trustees Act. The investment objective is to generate the best financial return within an acceptable level of risk while preserving the long-term real value of the investments. The Investment Manager operates on a discretionary basis and is required to manage the investments and to maintain a diversified approach after agreeing a suitable asset allocation. The investment policy and performance are reviewed half-yearly (or more often as required) by the Investment Sub-Committee which includes non-Trustees. They arrange for the regular review of investments in addition to monitoring funds and investment changes. The Trustees seek to avoid investing directly in gambling, armaments, and the manufacture and distribution of tobacco or alcohol. The total funds of the Trust increased from £3,868,503 to £4,190,564.
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DR WILLIAMS’S CHARITY Trustees report continued Year end 30 September 2021
FINANCIAL REVIEW
1. Reserves policy
The Capital Endowment Fund has been expended to defray the initial costs of the building project. A new reserves policy will be formulated once the development of the Library building has been completed.
2. Current account
The Trust continued to incur substantial professional fees in preparation of planning for anticipated building works. This has been covered by transfers from the Endowment. There was a deficit on the general account of £58,727 (compared to £97,669 in 2020).
3. Risk assessment
The Trustees maintain proper financial controls through the employment of a qualified accountant and a Finance Officer. The Trustees have reviewed the insurance cover for the Library building and contents. They have also identified the need to have a contingency plan in case the Director is incapacitated or when he is absent.
4. Outstanding claim
The Trust has an outstanding claim for negligence against one of its professional advisors. The value of the claim has not yet been calculated. The proceedings are currently ‘pre-action’.
PLANS FOR FUTURE PERIODS
The Trust continues to be engaged in a project to upgrade the services and repair of the historic listed (Grade II) building in Gordon Square. The Trustees intend to use the opportunity to reorder the Library with a view to making better use of the building and to increase the amount of space which may be let commercially. A substantive overhaul of previous planning proposals was initiated mid-year to reflect the awareness of the heritage asset nature of the site and to show respect for the original 1848-9 structure. It remains an aspiration that rental income will be used to fund the construction work and improvements and also to provide the Trust with an income to sustain the Library for the future. The Trust established a Future Options Group to consider operational options for the Trust and Library in response to an evolving operational funding and service delivery landscape.
The long-serving Director retired on 25 March 2021 and the Trustees welcomed a new director, who worked remotely at the outset due to COVID 19 restrictions. He has been on site since late May. COVID 19 continued to impact on the Trust, increasing dramatically proposed building and refurbishment costs as well as investment strategies. Staff work patterns were also impacted. In late December the Congregational Memorial Hall Trust advised that it will not be renewing its lease with Dr Williams’s Trust from late April 2022. This will have an impact on anticipated income. The Trust is looking at options to mitigate this loss.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021 (CONTINUED)
FUNDS HELD AS CUSTODIAN ON BEHALF OF OTHERS
The Trust does not act as a custodian trustee for any other body.
EVENTS AFTER THE REPORTING PERIOD
Since the balance sheet date the trustees have reconsidered the current use of the library and how they might improve the experience of the users in a viable manner. They have discussed the existing arrangement of maintaining the library within the freehold property owned by the Trust, and they have compared this to maintaining the library in alternative premises such as a university. The freehold property could then be used to generate funds either by selling the freehold or leasing. The trustees will continue to explore these options in order to determine the best way forward to enable the charity to continue to meet its objectives.
Statement of Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021 (CONTINUED)
Auditors
A resolution to reappoint Shaw Gibbs (Audit) Limited as auditors for the ensuing year will be proposed at the general meeting.
Approved by the Trustees and signed on their behalf by:
Mr Derek McAuley D McAuley Mr Alan R Ruston A. Ruston
Date:
27 Jul 2022
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Independent Auditors’ Report to the trustees of Dr Daniel Williams (commonly known as Dr Williams’s Trust)
Opinion
We have audited the financial statements of Dr Williams’s Charity for the year ended 30 September 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 30 September 2021, and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 5 the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
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At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the charity and how the management seek to comply with those laws regulations. This helps us to plan appropriate risk assessments.
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During the audit we focus on relevant risk areas and review the compliance with the laws and regulations by making relevant enquiries and undertaking corroboration, for example by reviewing Board Minutes and other documentation.
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We assess the risk of material misstatement in the financial statements including as a result of fraud and undertake procedures including:
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a. Reviewing the controls set in place by management
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b. Making enquiries of management as to whether they consider fraud or other irregularities may have taken place, or where such opportunity might exist
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c. Challenging management assumptions with regard to accounting estimates
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d. Identifying and testing journal entries, particularly those which appear to be unusual by size or nature
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditors-responsibilities. This description forms part of our auditor’s report.
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Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed
Samantha Daniels
28 Jul 2022
Samantha Daniels (Senior Statutory Auditor)
For and on behalf of Shaw Gibbs (Audit) Limited Chartered Certified Accountants and Statutory Auditor
264 Banbury Road Oxford OX2 7DY
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DR WILLIAMS'S CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Sch Incoming Resources Incoming resources from generated funds Voluntary Income - Donations and Legacies Activities for generating funds - Rents & filming Investment income - Interest Investment income - Dividend Incoming resources from charitable activities Other incoming resources Total incoming resources Resources Expended Charitable activities Management & Administration B/G Upkeep of library buildings C Repairs to library buildings D Grants etc Investment Management costs Total Resources expended Net incoming / outgoing resources before transfers Gross Transfers between funds Net incoming / outgoing resources before other recognised gains and losses Realised/Unrealised gains/losses on investments I Net movement in funds Funds brought forward at 1st October 2020 Net movement in funds Funds carried forward at 30th September 2021 |
2021 2020 Total Total £ £ £ £ £ £ 5,686 3,000 15,000 23,686 11,844 1,000 2,231 15,075 1,134 115,003 116,137 129,054 129,054 25 25 110 110 1,639 15,016 108,598 125,253 1,823 16,701 120,785 139,309 30,810 3,845 34,655 14,926 3,574 18,500 - 36,496 4,639 34,995 223,626 299,756 26,770 2,823 22,506 249,949 302,048 246,087 19,656 265,743 268,339 27,408 295,747 58,964 58,964 94,518 94,518 13,084 13,084 10,754 10,754 - - - 714 11,192 11,906 777 12,171 12,948 - 318,849 - 19,656 11,192 349,697 374,388 - 27,408 12,171 413,967 282,353 ) ( 4,639 15,339 212,434 49,941 ) ( 347,618 ) ( 2,823 4,902 ) ( 237,778 111,919 ) ( 223,626 (223,626) - 249,949 249,949 ) ( - 58,727 ) ( 4,639 15,339 11,192 ) ( 49,941 ) ( 97,669 ) ( 2,823 4,902 ) ( 12,171 ) ( 111,919 ) ( 4,869 44,598 322,535 372,002 8,283 ) ( 75,874 ) ( 548,731 ) ( 632,888 ) ( 58,727 ) ( 9,508 59,937 311,343 322,061 97,669 ) ( 5,460 ) ( 80,776 ) ( 560,902 ) ( 744,807 ) ( 290,584 ) ( 39,045 244,439 3,875,603 3,868,503 192,915 ) ( 44,505 325,215 4,436,505 4,613,310 58,727 ) ( 9,508 59,937 311,343 322,061 97,669 ) ( 5,460 ) ( 80,776 ) ( 560,902 ) ( 744,807 ) ( 349,311 ) ( 48,553 304,376 4,186,946 4,190,564 290,584 ) ( 39,045 244,439 3,875,603 3,868,503 Endowment Funds Unrestricted Funds Designated Funds Restricted Funds Endowment Funds Unrestricted Funds Designated Funds Restricted Funds |
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All operations are continuing
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DR WILLIAMS'S CHARITY BALANCE SHEET AT 30 SEPTEMBER 2021
| Schedule Fixed Assets Tangible Assets J Investments I Sundry Debtors K Cash at bank and in hand Creditors : amounts falling L due within one year Net curret assets Net Assets Capital Accounts Permanent Endowment H Income funds Restricted Funds G Designated Funds F Unrestricted Income Fund H |
Schedule | £ £ £ £ 1,009,106 629,831 2,857,534 2,824,433 3,866,640 3,454,264 65,832 97,013 335,990 400,592 401,822 497,605 (77,898) (83,366) 323,924 414,239 4,190,564 3,868,503 4,186,946 3,875,603 304,376 244,439 48,553 39,045 (349,311) (290,584) 3,618 (7,100) 4,190,564 3,868,503 2021 2020 |
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Approved by the Trustees on and signed on their behalf by: Mr Derek McAuley D McAuley Mr Alan R Ruston A. Ruston Date:
27 Jul 2022
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DR WILLIAMS’S CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
1. Accounting Policies
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Dr Williams’s Trust meets the definition of a public benefit entity under FRS 102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.
The principal accounting policies adopted in the preparation of the financial statements are as follows:
- a. Long Leasehold Property
The Trust accounts do not include a valuation of University Hall including the library and contents. It would be onerous to identify the original cost of acquisition and the benefits to users of the accounts would be minimal. However for insurance purposes, the Trustees are of the opinion that University Hall and the library contents have a current market value of not less than £12 million.
- b. Investments
Listed investments are stated at market value (mid-market value) at the balance sheet date. Changes in market value are credited or charged to the Statement of Financial Activities. Gains and/or losses arising from the disposal of shares are recognised as being realised whereas gains and/or losses arising from the movements in share prices are recognised as being unrealised.
- c. Incoming Resources Incoming resources are included when receivable.
Income from legacies is also accounted for on a receivable basis, being recognised in the Statement of Financial Activities in the period in which the receipt becomes probable.
- d. Resources Expended
Expenditure is included on an accruals basis. Expenditure has been allocated as indicated in the enclosed schedules.
e. Pensions The Trust operates a defined contribution scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £20,903 (2020 £21,661).
- f. Cash flow statement
As a small charity, as defined by the Statement of Recommended Practice for Charities, the Charity is exempt from reporting a cash flow statement as would otherwise be required by SORP (FRS 102).
- g. Related Party Transactions
There were no relevant transactions.
- h. Corporation Tax
under section 478 of the Corporation Tax Act 2010.
- i. Government Grants Government Grants are recognised at the fair value of the asset received or receivable when there is assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised a liability. Government grants received include income received through the Coronavirus Job Retention Scheme.
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DR WILLIAMS'S CHARITY SCHEDULES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
| SCHEDULE A. SALARIES AND PENSION COSTS Wages and salaries Social Security Costs Pension costs Transferred to Tangible Assets |
2021 2020 £ £ 303,959 222,204 22,901 15,150 20,903 21,661 347,763 259,015 (78,591) - 269,172 259,015 |
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During the year, a number of employees were employed to bring the tangible fixed asset into it's intended use and as such these costs have been capitalised. No employee was paid in excess of £60,000.
Trustees received no remuneration in the year (2020: £Nil). The average number of employees during the year was: 8 (2020: 8)
SCHEDULE B. MANAGEMENT AND ADMINISTRATION - TRUST AND LIBRARY
| Staff salaries, NIC and pension contributions Trust Library (including Cong) Less: Archivist funded by Restricted and Designated Funds Cataloguer funded by Restricted fund Library staff funded by Restricted Funds Salary costs for Congregational Library Books purchased - Accessions and Reference including periodicals Imaging and adopt Costs Postage and telephone Printing and stationery Health and Safety Management Professional Fees Legal Fees Audit and accountancy Trustees' expenses Conservation Library equipment including computers Miscellaneous Computer maintenance Bank charges and exchange rate difference SCHEDULE C. UPKEEP OF LIBRARY BUILDINGS Rates and water Lighting and heating Insurance Caretakers salary, NIC and pension contributions Establishment and cleaning SCHEDULE D. REPAIRS TO LIBRARY BUILDINGS Burglar alarms and security Lift repairs and maintenance General Maintenance |
2021 2020 £ £ 54,433 51,509 185,025 190,352 (10,000) (10,000) (9,000) (9,500) (38,431) (29,042) 182,027 193,319 4,040 5,369 681 - 2,877 2,574 904 808 1,740 1,740 14,000 8,630 14,895 19,624 4,950 4,800 17 2,683 4,806 4,477 667 6,530 455 1,487 13,229 15,597 799 701 246,087 268,339 2021 2020 £ £ (9,700) 40,135 7,252 8,858 31,549 28,180 29,714 17,154 149 191 58,964 94,518 2021 2020 £ £ 2,780 2,800 2,286 2,224 8,018 5,730 13,084 10,754 |
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DR WILLIAMS'S CHARITY SCHEDULES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
SCHEDULE F. GRANTS, DISTRIBUTION OF SURPLUS - DESIGNATED FUNDS
| General Education Fund Conservation Fund Microfilming Fund New College Fund Bibles and other books S. Wales lecture Glasgow bursary |
Balance Unrealised External Balance at 2020 Gain(Loss) Income expenditure at 2021 £ £ £ £ £ 24,860 4,869 1,639 31,368 14,020 14,020 1,033 1,033 1,225 1,225 460 3,000 3,460 564 564 (3,117) (3,117) 39,045 4,869 4,639 0 48,553 |
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SCHEDULE G. RESTRICTED FUNDS - INCOME ACCOUNTS
| Rev. A Beesley Fund C I Smith Fund N Baynes Bequest Appeal Fund Friends of Dr Williams's Library G Nuttall (dividend income) Special Cataloguer Fund B&FUA Cataloguer Fund Painting Restoration Fund Archivist Fund Jonathan Morgan Conservation Fund Baxter Conservation Project Library Benefactors General (dividend) |
Realised and Balance Transfers / Transfers / Unrealised Balance at 2020 Income Expenditure Gains/Losses at 2021 £ £ £ £ £ 34,229 4,060 (4,000) 12,058 46,347 42,425 4,806 (4,600) 14,275 56,906 18,010 757 (100) 2,247 20,914 12,467 1,134 13,601 13,511 3,845 (5,499) 11,857 47,096 4,992 (5,000) 14,828 61,916 58 58 (12,520) (57) (12,577) 30,923 15,000 45,923 1,525 1,525 1,703 1,703 2,840 2,840 52,172 401 (400) 1,190 53,363 244,439 34,995 (19,656) 44,598 304,376 |
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SCHEDULE H. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Assets Debtors Cash and Bank Creditors |
Restricted Unrestricted Designated Funds Funds Endowment Total 37,400 342,577 3,486,663 3,866,640 10,135 55,697 65,832 11,153 (48,336) (327,110) 700,283 335,990 (77,898) (77,898) 48,553 304,376 (349,311) 4,186,946 4,190,564 |
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DR WILLIAMS’S CHARITY SPECIAL AND RESTRICTED FUNDS
Norman Baynes Bequest
Professor Norman H Baynes, who died on 12 February 1961, gave his important collection of books relating to the Byzantine and Roman Empires to the Library. He also left £800 for binding such books as needed binding and for cataloguing, and £3,000 to be invested to provide an income to purchase books to keep the collection up to date.
Beesley Fund
The Rev. Alan Beesley, following his death in April 1992, bequeathed the residue of his estate amounting to £72,169 to the Trust for the benefit of the Library.
Miss Constance I. Smith Fund
Miss Smith left a legacy to be held in a separate fund by the Trustees for the purchase of additional books for the Library or to assist the maintenance of the Library.
General Education Fund
Transferred to the Trust on the closure of Dr Williams’s School, Dolgellau, 'to be used for the purposes of such Trust in their unfettered and uncontrolled discretion'.
Library Benefactors General Fund
This Fund was set up following the generous bequest of Miss Edna Marjery Hall. The purpose of the fund is to provide an income and to assist the maintenance of the Library.
G F Nuttall Fund
The Trustees to arrange for a separate catalogue to be published of the books from the library of New College, London, noting the names of donors and former academy owners. Any surplus funds are to be used for the conservation and repair of the books or to purchase any works to fill gaps in the collection.
B&FUA Fund
Donations given to the Library to pay for the cataloguing of the British & Foreign Unitarian Association records and the records of the General Assembly of Unitarian and Free Christian Churches. The Fund received no funds in 2020 and spent £57.00 on the project this year.
Painting Fund
A donation of £35,000 in 2015 was made by the Council for World Missions towards the cost of storing and restoring their former paintings.
Appeal Fund
An appeal fund was launched in December 2000 with the objective of raising sufficient money to undertake essential capital projects for the Library.
Friends of Dr Williams’s Library
The Friends of Dr Williams’s Library was established in 1946 with the intention to ‘develop and make more widely known the very considerable research facilities of the Library’. They generously help support the employment of a Special Rare Books Cataloguer with a grant of £5,000 a year.
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DR WILLIAMS'S CHARITY SCHEDULES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
SCHEDULE I. LISTED INVESTMENTS AT MARKET VALUE (ALL FUNDS)
| Share Holding Endowment Capital Fund BP Ord $0.25 Royal Dutch Shell 'B' ord Unilever plc Ord .03111 Glaxo Smithkline Ord 25p Scottish & S. Energy Ord. GBP .50 National Grid Ord .12431289 United Utilities Ord .05p Artemis Income Mayfair Capital Prop Inc TfC Vodafone Group ord USD .2095238 M&G Corporate Bond I Inc (Inst) Fil Inv Svcs Uk, Fid Mb Inc BHP Billiton Plc USD .50 Intertak Group ORD GBP.01 Experian Ord $.10 Man GLG Underval Ast Prof D Inc Nav Kier Group Ord £ .01 Prudential GBP .05 Int' Public Part' ORD GBP .0001 HICL Infrastructure Co Ltd ORD .0001 Bunzl ORD GBP .32142857 First Trust Global US Equity Inc Artemis Fd Mngrs Global Inc Franklin Templeton Funds Schroder Unit Trust Asian Income L Ninety One Fund Emerging Mks Blended Capital Fund Total SPLIT BETWEEN FUNDS Capital Fund Restricted Income |
Market Value 2021 Holding Book Cost 102,583 30,145 169,140 137,280 8,322 107,483 140,175 3,500 37,090 126,324 9,000 102,218 133,535 8,500 130,517 128,267 14,500 93,941 121,050 12,500 75,259 176,309 70,450 117,042 51,640 58,327 83,508 101,403 89,500 173,817 123,811 295,000 107,623 66,150 52,500 60,405 118,013 6,250 83,540 107,006 2,150 50,867 124,360 4,000 48,491 119,040 85,826 95,986 23,985 19,921 117,565 65,111 4,475 70,158 105,705 65,250 99,952 113,288 68,000 100,143 94,518 3,850 84,659 113,678 5,150 100,102 168,816 154,919 149,062 103,009 83,273 99,123 96,131 126,305 99,267 96,347 102,804 99,452 2,857,534 2,556,410 2021 2020 2,323,843 2,296,924 379,977 375,575 153,714 151,934 2,857,534 2,824,433 |
|---|---|
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DR WILLIAMS'S CHARITY SCHEDULES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
| SCHEDULE I. LISTED INVESTMENTS AT MARKET VALUE Market Value 1 October 2020 Additions at cost Realised investment gains Unrealised investment gains/losses Disposals Market Value 30 September 2021 |
2021 £ 2,824,433 257,901 191,916 180,086 (596,802) 2,857,534 |
2020 £ 4,157,165 450,102 191,698 (824,586) (1,149,946) 2,824,433 |
|---|---|---|
| SCHEDULE J. TANGIBLE ASSETS Library building redevelopment and refurbishment At 1st October 2020 Additions in year At 30th September 2021 SCHEDULE K. DEBTORS Trade debtors Other debtors Prepayments and accrued income SCHEDULE L. CREDITORS Other creditors Accruals and deferred income |
2021 629,831 379,275 1,009,106 2021 £ - 32,277 33,555 65,832 2021 £ 5,158 72,740 77,898 |
2020 - 629,831 629,831 2020 £ 50,753 22,535 23,725 97,013 2020 £ 4,423 78,943 83,366 |
|---|---|---|
SCHEDULE M. POST BALANCE SHEET EVENTS
Since the balance sheet date the trustees have reconsidered the current use of the library and how they might improve the experience of the users in a viable manner. They have discussed the existing arrangement of maintaining the library within the freehold property owned by the Trust, and they have compared this to maintaining the library in alternative premises such as a university. The freehold property could then be used to generate funds either by selling the freehold or leasing. The trustees will continue to explore these options in order to determine the best way forward to enable the charity to continue to meet its objectives.
Issuer Shaw Gibbs Document generated Tue, 26th Jul 2022 16:24:29 BST
Document fingerprint 4bc33fdd06148454ef978a052eb40bbf
Parties involved with this document
Document processed
Party + Fingerprint
Wed, 27th Jul 2022 12:00:50 BST Wed, 27th Jul 2022 13:23:19 BST
Derek McAuley - Signer (d87528a83ec3facb663ccb7760487624) Alan Ruston - Signer (6391afddce473276998bc7a07a155813)
Audit history log
Date
Action
Wed, 27th Jul 2022 13:23:19 BST Wed, 27th Jul 2022 13:23:19 BST Wed, 27th Jul 2022 13:21:21 BST Wed, 27th Jul 2022 13:11:12 BST Wed, 27th Jul 2022 12:00:53 BST Wed, 27th Jul 2022 12:00:51 BST Wed, 27th Jul 2022 12:00:50 BST
Wed, 27th Jul 2022 12:00:50 BST Wed, 27th Jul 2022 11:59:03 BST Wed, 27th Jul 2022 11:58:52 BST Tue, 26th Jul 2022 16:57:18 BST Tue, 26th Jul 2022 16:56:40 BST Tue, 26th Jul 2022 16:29:12 BST Tue, 26th Jul 2022 16:29:12 BST
Tue, 26th Jul 2022 16:27:33 BST Tue, 26th Jul 2022 16:27:33 BST Tue, 26th Jul 2022 16:24:33 BST
Tue, 26th Jul 2022 16:24:29 BST
The envelope has been signed by all parties. (35.179.80.221) Alan Ruston signed the envelope. (35.179.80.221) Alan Ruston viewed the envelope. (18.132.124.34) Alan Ruston viewed the envelope. (35.179.80.221) Derek McAuley viewed the envelope. (18.132.124.34) Document emailed to alanruston@btinternet.com (18.168.226.248) Sent the envelope to Alan Ruston (alanruston@btinternet.com) for signing. (18.132.124.34) Derek McAuley signed the envelope. (18.132.124.34) Derek McAuley viewed the envelope. (18.132.124.34) Derek McAuley opened the document email. (212.82.108.35) Derek McAuley opened the document email. (87.248.116.79) Derek McAuley opened the document email. (87.248.116.79) Document emailed to dmca123@aol.com (18.134.205.253) Sent the envelope to Derek McAuley (dmca123@aol.com) for signing. (89.197.20.206) Alan Ruston has been assigned to this envelope (89.197.20.206) Derek McAuley has been assigned to this envelope (89.197.20.206) Document generated with fingerprint 4bc33fdd06148454ef978a052eb40bbf (89.197.20.206) Envelope generated by Kim Gray (89.197.20.206)
Issuer Shaw Gibbs Document generated Wed, 27th Jul 2022 13:43:47 BST Document fingerprint 57a63979cd7b4f8c7de4d5047c2fed4c
Parties involved with this document
Document processed
Party + Fingerprint
Thu, 28th Jul 2022 9:22:25 BST Samantha Daniels - Signer (fcf323e213b90d82e1291313e6f70820) Audit history log Date Action Thu, 28th Jul 2022 9:22:28 BST Samantha Daniels viewed the envelope. (35.179.60.205) Thu, 28th Jul 2022 9:22:25 BST The envelope has been signed by all parties. (35.179.60.205) Thu, 28th Jul 2022 9:22:25 BST Samantha Daniels signed the envelope. (35.179.60.205) Thu, 28th Jul 2022 9:21:27 BST Samantha Daniels viewed the envelope. (35.179.60.205) Wed, 27th Jul 2022 13:44:56 BST Document emailed to samantha.daniels@shawgibbs.com (13.41.80.1) Wed, 27th Jul 2022 13:44:56 BST Sent the envelope to Samantha Daniels (samantha.daniels@shawgibbs.com) for signing. (89.197.20.206) Wed, 27th Jul 2022 13:44:05 BST Samantha Daniels has been assigned to this envelope (89.197.20.206) Wed, 27th Jul 2022 13:43:50 BST Document generated with fingerprint 57a63979cd7b4f8c7de4d5047c2fed4c (89.197.20.206) Wed, 27th Jul 2022 13:43:47 BST Envelope generated by Kim Gray (89.197.20.206)