## **DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS’S TRUST)** ## **ACCOUNTS** **FOR THE YEAR ENDED 30 SEPTEMBER 2021** **REGISTERED CHARITY NO 214926** Page 1 ## **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 **Page 2** 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. **Page 3** 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. Page 4 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. **Page 5** ## **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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - 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. **Page 6** ## **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 **Page 7 (a)** ## **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: - 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; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - 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: - the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - 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: **Page 7 (b)** - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - 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. 1. 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. 2. 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. 3. We assess the risk of material misstatement in the financial statements including as a result of fraud and undertake procedures including: - a. Reviewing the controls set in place by management - b. Making enquiries of management as to whether they consider fraud or other irregularities may have taken place, or where such opportunity might exist - c. Challenging management assumptions with regard to accounting estimates - 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. **Page 7 (c)** ## **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 **Page 8** ## **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**| |---|---| All operations are continuing **Page 9** ## **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**| |---|---|---| 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 **Page 10** ## **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. Page 11 ## **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| |---|---| 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| |---|---| Page 12 ## **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| |---|---| ## **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| |---|---| ## **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| |---|---| **Page 13** **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. Page 14 ## **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| |---|---| Page 15 ## **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)