DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS'S TRUST) ACCOU5 FOR THE YEAR ENDED 30 SEvfEMBER 21n5 REGisfEKbV LHAKI'I'Y IYV 214Y26
P4el DR DANIEI. WILLIAMS (COMMONLY KNOWN AS DR LLIAMS's TRusr) Tr•sttf8 rekN)rt Year emded 30 September 2025 KL'VbKL'iYCE AIYD ADMINLSTRATIVE DETAILS OF THE CHArn, rrs TRUSTEES AND ADVISEILS Re8iStered Cljarity No. 214926 Room 263. Senate Hous4 Ma]ei Strrt WCIE 7HU Trnsteu •t 31 Wber2125 Mr Alon R Ruston Mr Howard Ha8 William P F¢athcrAono Prot&ssor tiray50n M l)tt¢hfield Rcv. St¢ph¢n L. COF Mr Jellrey J.'l¢a¥le Dr D. Jane Willioms Professor J. Clyde G. Binfield Mrs Mar8arEt I. Ki Mr D¢r¢k McAuley (Chair) Rev. Dr Ann g Pert Rev. Dr Mi¥lixl HvFii Rev. Martiti White.11 Rev. Dr RuiKrt P Po Rev. Dr Elxine fDI(hin Rev. Dr Rort Whiman Dlrort Dr H7 Maguire Shaw Gibbs (Audit) Ltd. ?64 RAnhiry Ro&d Oxford 0x2 7UY B•ThlLerx National westm1ter B8nk Pl¢. 332 High Holborn, London WCIV 7PS CAF Bank Lt4 Kin8s Hill, We8t Mdltn& Kertt. ME19 4TA IDveytme•t Mn*gerJ Charles stsnl¢y & Co. Ltd, 23 RoTKmaker Streck EC2Y IBL Whitehead MonGkton IA"12 KI Suet4 M8ldston4 KcnL ME14 IDL
Pag¢ 2 DR DANIEL WILLIAMS {COMMONLY KNOWJ¥ AS DR WILLIAMS'S TRUST) Trystees report totttlnue Year 30 Stpternber 2025 STRUCTURE COVKRNANCE ANn MANAfF.MF.NT l. (vovtrnallte The ¢harity originated Will of Dr DoDi¢I IWJlliam$ dat&1 26 June 1711. It is now governed by a Charity Commission Scheme Sed 15 July 1910, as varicd by Schemes sealed on 19 April 1955. 13 July 1972. 17 F¢iYuary 1978. 8nd 19 FelKuary 19)6. with the tsILr#ees I)[8 as a W. 2. Eleetioll Re¢rnitm•nt and TriDimg of Trtte¢S "rh¢ election of tNste¢s is Eovcrned by the Chariry c{1&110 Scheme 5¢aled on 19 FcEKuary 1996. All tnLStees are Appointed by a resolution of the trusiee4 and no is entitled io act a5 4 trslee until he or she has signed a declaration of acceFanc¢ ynd ufwillingn¢s5 to act in th¢ trusts of th¢ Charity in the gIst¢1 set &side for t Pur[. No other tf50n or FA)dy is entitled to 8pwint trltstees. Newly apwjinted tr$¢5 ore glven a WrIn iKi¢lln¥ thiLi¥J vf# tsLLStet a1 arc cn¢ouras¢d to meet with Senior Managomnt (direLtor) other tnth forthe. lknme.nt nf untsstanding ol Ihe'l'njsl's mi10 operatloTLS and financlal sItilL 3. StsIT The Tr81 aims io pn)vide comwitive salaries for stsff 81 le&st equivalent to the ndon Living Wa¥¢. Rates of FQY ar¢ nchMarked tigainst rekvani markei dats from tirne to tim¢. In additio tn1£¢$ meet annulY to discuss 8Th1 rtmuneration IludTng for key pwnnel. Mtmbtrghlp Memt¢rship r)f the Tr$1 consists of 4 minimum of13 •nd a n)aximurn of18 ITh¢¢¢5. The quoNm for Ordinory And Specia] Meetings is six trt. Member3hiL) of the Trust on 30 SeFttmPrtr 2025 skKKI * 16. The In¢e5 ranain awarc of th¢ n¢ed to r¢new ond rnvjtu1i th• membership of th¢ &)ard of Twsteo, e4TYfiAlly with view to long4ime m¢mr5 eppIn2 dowil and as w of a wld¢r T¢smKiuriiw ur(5. 5. Urggnlyatlonil Stru¢tu of Ibe Charlry Th¢ bu5Lne5s of the Tru51 is conduded by the )d officers of the Tr1 ut)thr th¢ dirtction ot th¢ director, who is atLswerable lo th¢ trustees, 1 w to Gener81 Meeting and the two rnwrt ¢ommittces ¢urrently covering Finance & Administration and the l.il)rary. Day4¢Y issues are referred to the Chair of the Tel¢vant cornmitlce5. All actio$ athivities undertaken by thc otTi¢¢Ys of the TrSt are required to comply wtth the thk$ion$ 8nd Frf)tici£s Lstablished by thE trustees. fr'iv¢ ordinary Gen¢rni meetill We held duTill8 the year receive and consider reporL% from Finance & Athnini$tialiofy whi¢h met four ttm¢5. The Trt has M fMal lith with any other charity. The truske5 have 1denll.fied rnn rfsk5 to Thibi otKI Lilmwy collcctions arc cx Followins the Phy1¢41 closure of the Librgry st GoTdon Sqirlre. x rAnee nf ri%Ls have been mits"gated notably lir¢ aTKJ darn io the physlcaj fthic of a iMJil{Ji atiLI its ext¢i]5iv¢ historic ¢OT)t¢nts. Thc Trust'$ eolle¢tions remain in secwe st(we at fgcilitiL% grmsg F.nglan& The risks lo the Trust's colleaions ar¢ managed by the D]recw of Th( Pt to th¢ Finatice & Administration and the Liiw & ColleAi0ts8 Committees. Ongoing risks to the collection8 CO15t of
Pag¢ 3 DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS'S TRUSD Ye4Jr cnd 30 2025 pr¢s¢rvation security and involve the Ysil1 rity of from fir4 ft31 other perils. and the conser10 2nd preservation rtf. l¥rt #nd m>)niL¢£fFpts frt)rn envirijnmentsl or other dama¥e. The m151, tIwiML¥h di[N.. uUd¥iky ul&[ Ievaluatith of thG 51oww aod ¢ot)tents for insvranee The dirertOT visiled Thf thp %tnrA8e fAcililieq during the y&4r. OBJEcfivES AND AcrivrriL8 J. Objettfvts The putFMM ofthc Trwt has ts> Dr Iwilliams's Lilxwy and to main&ith an red Protes Dissenting minis in F8]Illd aThJ Wales. As wt ola tacililthj 2021 thc tru#¢ &tfThi¢d theirvi5ion I1 mia8iOh: V141ts.. Our Vision is w en5UTe th¢ tIn8(atrIEtsOtt of R¢li8ioL4 Llissentto society Is pmnotd 4nd pybltcly wi3J. MtsstoD: lh¢ Mi&sion ofLf Wlllms'5Tr115L Isu) PrnM thc and publi¥ ademir 11ndrtlnJ7tyg nfthe 47tributI Df Rel141n Dissent to the tell810 culthraL )liti1 lifr of DritaiN root¢d i# th¢ Prol¢rt DisJuLtin8 truditionJ. 2. Actlvllltj The trustees maintsin the eollethions of the Dr Williams's Lilxary, theptsnina)twllxthons for Brriiish Protestont DiwfiL It is a major indep¢ndertt rese8r¢h thl10n of intern0 Imce with, hi51oTically )Y vi$itsn8 scholars and TcwJ¢rs. The thjsw seek (u inLYW¢ kr¥)wl¢yJ8eofth¢ libr,$ collections Hnd to ¢>U188e 8re4ter interesi itt the cfJlle£tion8 and in the #vdy of religio Disseni by IldIn8 ¢onfcrtncc5, xrninar& symposiurns. wkn pemiiL they seek to ¢du¢at•J di88enting ministry by offering 8rn1ts w Prostsni IAsxntin8 Minisws in fyll time sculemeni a ci>ny¢¥au4)n for P0rU9¢e study. c.onscious of its heritage legxty, and in the of 21)25. thc Trua provided #Je1)L sllprrtffi l)ursari¢¥ for the Lorthn R&T¢ BwkJ School at the Univmity ofknd(m. Comparabl¢ sup was providryj ¢0 th¢ nal B(M)k Trade Conl¢rtrte."Ih¢tru&ees at¢ (leeply appyrxiY¢ of the conthbuiion th outsid¢ wholoro ond PTof•e6IMS mgke thrvJBh shTiD8 their lime Irbd exwti9e enAhlinethe. Tnist tn m(>ve forw8Yd and meetthe ThN'sVlslw ond Mlsykn alrMIy J¢LvuL J. rublk D¢B¢ll¢ 'I'he tTUStees k¢ into acc•iffttth¢ Chwlty Commisskni's 8uhJAn¢¢ M blIC bcn¢fJtw¥l Ixlieve th¢ 8ctiviti¢s of Dr Williams's (lJ•rity #rt ifi line th&t8uidm(%. ACHIEVEMF.NIYI AND PERFORMANCE l. Revltw of chgrltsble •c¢lvltkx The rnain Trthi¥iti¢s of the cknrity Areth¢ e&jOnOf Protethi ThSs¢ntih8mtni& 1ILryH ihe TJnivusity of Gl&%gow. and the maltstrnance and promotion uf4m hiskn)ric Liiwy atd its colle¢tiotts. In 2024-25 th¢ I'rw4 in coIIAlywxtinm wirh the. I Iniveruty nf (11&sg4)w. pp£t fv al-timC in"[ThLoY th Prtice. 'rh¢ Trust CTh8a8d artiyfjly with thc Univow¥ity of Man¢h¢th in wJvwiD8 fir1518 the LY)mplex legal docum¢nts to the safegiwWatKim&nagetncni of collerth. 2. F¥udrlsJug The trustees %eek to rnis¢ ti1n 10 Ihe Library'score objcutvts •ts]ly In the (X[VliV, and preservlltion, *t4tsisiiion of hi5tOTical mAtUl relevantkn its sts IMTI in th¢ fjdd of BTitssh PrOte51antDiW Min1Cri•l trnining.
Pag¢ 4 DR DANIEL WILLIAMS (COMMONLY K]¥OWN AS DR WtLLIAMS'S TRUST} Trttts report toMtiMue41 Yer •d JO Stpttmbtr 2(125 3.Donatkn•s The Trundid notre¢elveany lega¢le3 In the yf•r. 4. InVeeI polley w10nDte Tht trnsttts exercise 8 8[al wer of inv¢skn4xI yN1¢rthe truAers A¢t2(KK). The inv£4trkefti obje¢tive isto 8eJltr thc best rMan¢ return within a¢ceMabl¢ Icvel of risk while prexfving thE lon8-tsmi re41 vgluc of the inv¢8tments. The Invc5th1¢ni MatrOKlI¢S{Jn b&si5 8nd 15 Tcquircd DJatge investsnents gNI rnaintgin * divetsifify4 8PErth kn •8tteiti8 a suitable a55d l(ation. Thc investmcnt policy and pwfo1m are ttvi¢wed h8lf.y¢arly lor oll¢n as rty4uir¢d) by thc Inv¢sbn•l quWCornmitt¢e which includes tm)n.tnt..1'ttty arrw forthc rcgular revicw of ithv¢th¢nts in ldiiion to mwitOrifi8 fimd5 and investment chgnBe& The trus seek avoid inv¢slin8dir¢dly in Bblin8. and the manufaLIUT¢ #j di¥tyibuLithi or¥)0r bk(knl. Th¢ TTUSt Ttm•in8 in trorbsi¢ioh at th• prwat tirnt ahd m•thingfi>l pvfrymAnce iThliegtors Are diffitiilt tn establish. Once th¢ Coll¢al0]tsaTr cAablJthl • the UDIvLlLY itUxlr will bF abl¢ to formiilHt * trfrtth se.t nf iThli¢alttrn.. 'Im¢ sak of the buiidingand a4rualn8 Ibe kx)Ion kn a sultabk (UILivuwly or Manchegterl will enabl¢ th¢Tru5t to ire&ye the 3um8 within t¢&4)n. available ts) be m¢ in 8Tgnts atsj bursttricy. Th¢ In aim to wjpport th¢ widcrx)¢iety strfyw¢ pfftrnhips wthich ajx) suprrt)rt the TTuA'5 Mission h08¢. FINANCIAL REVIEW l. FinAmeil Perforni•ntt Thc proG¢aJ of thc Jajc of14 Gordon gquort in D•¢¢mbgr 21Y23 for 13.sm were used to incregse our inveslment holdinRs. This contnbut¢d signifiontly w an irre in our Inv¢sunenT Income In th¢ ycw. Inv¢stm¢nt is subieet to the wider rnowk•t eondttion6 howew the In¢¢¢% Ire c¢)nfid¢nt that they have a robust inv&qtment in platt as alrely Sel out. 2. R¢serveJ p)Iky Following the disp)$81 of their building in Gordon Squ8r¢. ¥md the inY&stigatiOD on a firt horne for its collections, the trteI are in the pr(ms ol"forn)ulating a r&8erves l1¢y. I'h¢ totsl funds of th¢ Trust incr¢85¢d from £16.144.766 to £1&722,730 durttk8 the y¢or. The fuhds Ire held to 8¢YJernte an in¢ome lor thc Trust tts ¢Dablc it lo m¢d Op110[] in linc wth tts Vision and Mission. Thc amount of restricted fimd8 h&s itKre&wJ from £322J45 to £354.336 diring the ye4r. "I"he un]rthffled reserve5 currenuy slKJw a Wvc iwldllLL. TILf i[JwIL fivAu dJ¢ ii)VC5thJcrJts is exPeed to r@plenxsh this in the firture. The trustees will kn cfjnsider olrfxining charity eommission approv to utilis¢ some of the wmanenT lli¥ 1Illu¢d Jnatnt¢nanc¢ of the library ¢ollection 8houldthis lcome necessary. 3. Crrent eeouDt TIKre w&$ a surplus on the getteral accou of £333J22 (£191917 in 2024).
Page 5 DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR LLIAmSPs TRUST) Trnstett rert contiDued Ytar end 311 Sept¢mb¢r 2025 4& Kislt ¢55¢1 Th¢ trUstS maintain propcr fintmciol controls through the employment of a Fin&nce Offi¢er. The sale of the. biiilding And the cnmplete removal ot.the CA)Ilections to secur¢ off-site storaee necesslthted a review of thr Trubl's i115Lu1L¥ wvcl. Tl)¢y ha also ad¢ntifi¢d thc nctd to have a ¢ontingen¢y plan in case the dIrtOr is incapacitalcd or when he is absent. The origina] will of1711 divected the itiitial tte¢% to pwckne or build a site to IKISe tr collecti¢)n of books of Dr Williams. This w&8 wd18rgely through th¢ ¢oll¢ction of donations 8nd cash gifts as insuiCie fun(L% had teen m8de availahle in The Will forthis puryxise. It is rK)t kmown whether this was the Frman¢ni wJth)wmeiii or wh¢UKrthe eDdowmenl created un(kr th¢ 1875 Scheme where th¢ ekarity was regiibied iindpriK•. F.n(knwed.q¢lthl.% Acts or of tr sutwuem S¢h¢m¢s. In 1727 the elwity pvrchgsed g biiilding its l¥rtiv. the. lihrAry. The charity has moved premisc5 van0$ ttmes over the years. Its l&%1 hurTl4 14 Ovid1 S4UUt¢ sold in D¢¢unE¢r 2023 as it had Serious Btswtur¥i issue# Yequiring repairs And interyentinn thflt were financi]Y prohibitive. The pro¢¢ed$ ot th¢ sale have tt£n inve¥d to 8cnerat¢ irKornc to supp)rt the manawent aThJ of the ¢olleaions into the future. PLANS FOR FufuRE PERIODS Having dlsFx)sed ofhs hlswrtc 0()n11 iii tko¢mE¢r 202J th¢ tr•t¢ QO-OTdittotd the full and fLllg] decntin8 of its collertit)Ag in * rmmplp¥ And cnn$idered ormticffl by Apnl 2U24. Discusslon wtth TKxentlai hom¢s fvr i¢b sJivuJ¢ atMI tiLIL Goll¢¢tirJAS continua throushout th¢ yeor ond the Trust engaBtd an extern41 pwl of highly ryArd xiithnriti&s in the field to assess and wovide advi¢¢ on those InsilNdoTL5 recelvlng ci)D5iderniithi. T¢¢%3 JGachtd a urlMO a8rc¢m¢nt in SeptemEr 2024 that the collections would be Tnan8ged by the John Rylands ReseaTch Institute and Librdry, Universiry of MwKIKster. The Trust'5 ole1$hip of the collections [affiM1¢1 and it was further confirmed that the futh]re hip Ilniversity Liiwary would tKfyt only safegwrd the coll10S it) a profwional mllnn but would encourage wider and moT¢ divcr3c us¢ of the collections in keeping with the original spiril of the Trrf. The coljrxliot would consolide Manchester's claim to how perhaps" diveTse and ri¢h collection of malcria] on the Dissenting traditions of any University in the FollowTng the ¢(Jnclusions ofiegal agreements the 'I'nl will ¢onsider the dev¢loFnIKIrt of a knary W08mMe to ¢ncouTa8e u5¢ of its M¢r[al$ to be held at Man¢h¢st¢r. Additionglly. the Tru nrpn In thp. pnvi8inn (Jf 4Up)rt toward5 ¥ademic iniiiaiivcs whlch reflecr nolY Its I1{ div¢isc Ilu of IL% historic publishcA and urthivol mAtwi4]8. FUNDS HELD AS CUSWODIAN ON BEHALF OF OTHERS The Tnl d(tr not xt &$ a cu5t(yJian trUSt¢¢ f(Y any other iKdy.
Page 6 DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS'S TRUST) Trnstets report continued Yr end 30 S¢ptember 2025 Statement orTn, reswmsibilrt The tn]ste&8 a]E Stlb1¢ tor eInE thc Tr1, Rep)rt and the fitwnclal STaTeo)¢nts In a£cordanM with appli¢abl¢ kniw ond Unitsd Kin8dom A¢countith8 Standgrds (United King(&)m Genera]ly A¢cern&J Accounti Prraicel. The law appli¢8ble to chariti in En# and Wal¢5 r¢quires the trus to PTepare financia] staternents for each fu)ancial yw whi¢h give a true and fair view of the state of affairs of the ehartty and of the in¢oming r&wurce5 and application of resou ofthe charity forth rrtrio(L In pr¢p8riD¥ these f9lai StaI¢m¢n the trustc¢s required to: s¢l¢ct suitable aOnting txyllcl and th¢n apply them ¢onsist¢nily: observe the rnethtMl% ne.11¢% in C.hArtti<$ 8ORP {FRS 102): MakeJUdgemen aNI esttM. rwviwblr State whdhèr opplicable a¢eow)tin8 stgnd8rth hwv been follow. subiertlo Any material departures dJ'5c105ed and explalned In tInatal sthmnib: prcptstt finAn¢iai statemet on th¢ 8oirt8 ¢on¢em E•81$ wileÉs it is iwywate to presimie that the charity will Corttin in opEIlOn. The trustecs are r¢sponsible for kttping aOUnting records which disclose with re&wnable accuracy at any time the fin8ncial lOn of the charity and enable them w ensure the financial 5tsm¢nts comply with ihe Choritiu Act 2011, th¢ Charity (Ac¢ounts Rep)rts) RegulatiorLS 2008 and tW5t deed. They are alw restsIble l< satcRuarding the asscts of the challty and IkA¢¢ for kIll re4LW111J¥ st¢ps for th¢ prtv¢ntion and dGt¢¢tion of froud wid irregulariti. Audltor• A resolution to Yeappoint Shw liibbs (A111) Limrte*J &5 alittl1$ forthe etL8uItt8 year wlll b¢ proposed at th¢ genetal me¢tin8. Approved by thc Trust¢¢s and $id on d%ir beb8lf by: Mr Derek McAul¢y (Chair) M.thJ. Mr Alan R Ru510n 24 Jul 2026 24 Jul 2026
Page 7 (4) DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILLIAMS'S TRUSI) InthInAjEIorn' R•p(tto thelywt•O8 of Dr Oanhl Willianw lcomrnonly Dr WIllian.¥ Tn• Year ¢nd 30 September 2025 Oplnloft comprise thè statenI ot pin8nrJal A¢¥ ts Bo10? SI1 tmibx to fv fiftal •tsIrnIs, indudfftg a siimmary CA Ort8nt accoJnbThJ The finwaal r•pmg fta))e(rt Ihai Lwi in their pr¢paratiOt) ie law Uniw Standts. FRS IV2 Ine Fin8fidai R8POrtirw StaThJard apPla in th• UK R8wbk of IrePdfvJ IUrl PL£w)b ITr our ownJn glv• andf•lrvltt7of th• olll•dbTbty'••ffairna• •tJQ8•pknbw202S,•nd of Il• rosour¢•• ind applk•tlon of r••our¢w. for Ihe y•arth•n end. Pr•¢iie•; antt h•v• b••n pY•p•v•d kn eeorytsnNTllh lh• rnoulrwmnts oltt• Ch•rflb•• A¢t zmi. rOwnI W• tdUC1 cwr x)rdae wilh Inknabwal SlaTrJath on AJj IUKI IIS48 (UK)) ar¥J law. Iljr Mapongibil UJer 8tsTrJds aro in the Auditor$ row1C4St for the a1rt ofthe nnanckql stsfrtnts seGtim ol OUT r•port W¢ are inwndwt olth• thwity in Itldnl ¥•th th• •thical r8quimm8nts that arg reYarrt to our •udt of It fMwnci81 $¢•tomonts irb th• UK. IUdIng th• FRC'$ Ethical stsndard. w8 ha¥efuffilleilouroth&rethxal in accortl•ncèwth wuw•mnts. W• belwe that th¢ audit oV¢nc• wg h#% obtsifi•d SLrffnt aTrJ aFwtori8tg h) a bui8 for¢n)n. ¢onclu•lon• rgkn11rt9 ts golrnJ ¢¢)rn We hsY• nothiTrJ f•FuI ofts li (UK) tr) repori to yw vthèrn." th• trt. o• of tho #dng OA• of lil ts pr•p•ratl•ty Of th• Ilmfiolal th• trut•o• ¥0 not dl#elM•d In Ih fkn•nelal •I¥1w Id•nllW mil•rf•l unc•rtlnts• th•t mwy c••t ¥1gnlfk•nt doybt about th• ¢h•rlty'• 4bfjlty tr• COrttlnu• to adopt Ilb• going ¢onc•m bJ•18 of e¢ountrng lor a p•Md •1 at l•N•¢ th¥•l¥• month• Irun th• dats h•n thtr fIn•nEI ¥t¥t•m•nt• art •uihorS••d for IB•ue. t truwt••s' annual fepjrt. txtthan lhermaal Slaterr 8TrJ cwrawjrtofs reporttherEDn. Oui opinKfi on lh• In eonngtbnn ilh ¢)ur a1 finarrfial ststwneTrts. re¥)MSW IB Li tDwJ thu itrfOm and. in doing jo. consNkr lh• oth•r InfoYft 1% matenalty incifftststent wth the Sments 01 our knowknJ9P LlJtsiiEd in audit Of olhOte appoars trj b• m81tAtI If wa thn)fy m8lerkg1 incortsBteniw or aPrEI rnwta1wi&. are required to dtytermine whothor th•ro 15 8 MAtr1 misstatement In ts fin1 8tsteThnts or a mat8ri* of ottEw infomwbDn. If. b88éd on Ihewo
pa 7 (bl We have notrthg to rewl in Ihty rw. Reports) RegUtns 2C¥J8 wuires u5 to r¢F¢rtto yw rf, ¢yJr or slfftt aca)untiThJ have not t¢en kert or hovg rFcpNwJ #M MikHrn•lkn •xl requKefor ouraudi oftrmtso A8 8X1j the trust, set cwjt on p&Jo 5 thè tDJ6te85 arB rFspw$rfo for the preparabon of Ihe final1 Stat•menty whth gwe a arKI l¥ir vw, aThJ kn 5L# utsmal a• th• mjg8tateThnt tofraj om In prepamg fin•roal s1otum. tt ar• forA8aas8ry the dwnty'8 alty tri cwtsnuè ai a going corKAwn. dkILrJ, as applt•blg. matt8rs rnLgted tr gory cgJrKem arNI Ihg conL¥m b of aco)untng Ih? trLJftts eitt•r inteTrJ the ch8nty cff to iau• wor¥¢8. (Y ¥0 no r•8116tic ahm•ti¥• bul t• do 60. Audltorf• rnspon8knllbll•• IwlD• UOrt oltr IhlKllI •iii•m W• hJv• b••n woirrt•d w wJbtor Mtb)n 144 Ch#Thli Arj 2011 ¥¢xthc• with i¥yul•¢ityM mado under4e6tion 154 olthal P m•t•TrAI mk88tstement. whth8r lo fraj or erTry. al an 4yrtOrfs TW th•t IaU$S our oplnn Ru•onÈbla 888uranc• i¥ • hJh kttvet ol awr¥rt4, tKrt * not 4 gl#At Ihat an athyit ¢cludod in accortl•nce whh ISA8 IUKI wll ah¥ay8 ¢jets ¥ m8t8nal mlsstanent Wh rt ex10. Mwt8tMnts ran •w from fraud or ror and arn corohJ¥•l mat•nal rf. ffjdNJuty orin the•Jrtyat8, ts)Ll expAl to irfflu8nc• I•guLAlies. IndudiThJ Iraud. w inslar8 of I1h Iw# W regJlètron& pr¢r•duTO# In line wrth our r88porth'ifyes. tlIned to delect rnatenal ffl¥I8tsftl8 fft respect of Irregulonli¢¥. Inlding fraud. Th8 oxrt to our ar• wt4e wwulafflS. m(auowg frautt. d•tsil•d b•&xv. Al the FlanniNJ crf Ihe wJlL ** yaii wi ol the wuknbon• oppty to charity and thC4• pL411 Dudrg tho on reknvant rk awas and rooul¥tion$ by CorrCits. fiyewnF4• ty r•vwirvJ board MinLrto• and woc¢dures Inc1[¥.. h¥v¢ tAken a¢e. orwhere eppthJnty myht 4xi Idenbfyiw aThJ JOLmai eniiE5. 8Fpai tD bp utNwMI by or hir jtTrli¢rwllknitation5 Cl thomis a rokth•t¥X notleoI indud¥ng Ihc•• loading to a matènai mssraterffj In the flnarKèI 5MtyrEnts or viiui rryvL•tts. This D8k Incrèases the [re lhatixp1re orwttstKsn ffom and tran5aLorts refiethj in the finanoal 8t8tements. as w& w411 likety to of inst2ncs of norFixynpluqnce Tr rtsk is 8180 greater regardry irwuigrils occurrirvj frBuEI ralher than wror, Ak fraL&Y invdvÈ& intentional
Page 7 Icl I r6port. Uso of1 Y•port This report V8 mYg soldy tots £ar18 tr05. as a irk ac¢A)rdarts Part4 cothe Chanks (Afxounts and Reportal regul•ti0rn92{. Our•udrtwork hotsb••n unde4Jkn Ihatwm¢ghtBtatgtoth&ehairty'¢ tnta•S Inose matt8r5 w8 ar8 wuir&J tv ¥14ts iu Uv&uit ill it4xiaMI S)r no oIIw3r purFwe To th¢ lullest axtsnl tru$t#A* ¥ A thty. fnrJr AixS1 wnrf¢, fofths re)rt tr)r the havè f0mj 24 Jul 2026 For arxj OTr b8haN cl SIMV Gtts (A)rtI L¥rMbJ 264 IsaUry R1 Othd OX2 7DY
00 111111811
Pag¢ 9 OR DANIEL LLLAs {COIOIIQNLY KNOV•Trl AS DR WILUAIAS TRUSTI BALANCE SHE Yearend 30 SEP Flx•d A Tanaible Assets Inw8tm•nts 15,683.454 15.11.537 15.685.1LIJ 10,083.889 Sundry t)¢btor8 Cash at bank In hond 58.318 1,tW,079 1.150,397 CTedrtm . amounts lal th wlthln or 189.5201 Net curret 8S8e18 1.037.030 1,060,877 NelA5oots 18,722.730 16.144.7É Fund• of thg Charbty 18,516,919 18,307,654 ReslndgdFund8 Doslgnat•d Funds J.410 57.224 Unrethcled Incorne Fund 542,467 2C.811 1162,68ei 16,722,730 16,144,766 Mr Derek McAu* A..L 1O.AJ. 24 Jul 2026 Mr Aan R Ruiton 24 Jul 2026 Date".
Pa9• 10 DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR IMLUAMS TRUST) STATEMENT OF CASH FLOW R ENDED 30 SEPTEMBER 2025 2024 Operaung alts" (27S.076) 1258,0151 Inve6Ung ¥It DNidend3. interest and rent6 from in¥06tm4 Purchase ol office equipment Proceeds frorn s818 of propeity PToceed5 from sale ol wr¢ty prdlas8 of hltage assets Prcwds from sale ol inveslTrvts Purth8s¢ of inveslrnents S101 12.3521 1,247,913 11,7.501 {48,672} 12,463.217 12.723.674 998,919 10.729 740,9)4 rsh anrt rA%h AqilNalonts I.IYJ2,019 351,17S cash and cash equliv*nts rJMYJ 1,102,8C 1,092 079 2025 2024 88nk and Cash 1.102,808 1,092,079 Not• A 2024 .911ry4114 fnr yaAr ReIPtS from tik11n$ aa Div¢denOs. Intergst and renis Irryn In¥ Deea$9 In dabtor8 (decrea} kncrease In t>pditors 209,019 12.143,099 (11.967.501) I353, 1590.101) 24.260 9.718 {81,0901 75.078 258 015
Page JI DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR WILI,IAMS'S TRUST) NOTES TO THE ACCOUNTS Yur end 30 Swember 2025 l. Ar]n%1 Poli¢ies Th¢ prin¢ipd )tin8 polioiw •]opt•l in th• pryaration of th¢ fitt4ttcl stAteMts #Tt $ follo. Chlty knforniation Dr Williatn5's TnLrt is aTh unirKorp)rtd ¢Jwity is withthe Charity CornmissicfL in England and Wales Ich8rtty number 2149261 b. Accountin8 ConvenM] The acwunts hAve Fryjwed in with Ac&Mmtin8 aThJ Rewrtin8 by LTr&Titses slatrt of ccommcnd¢d Pra¢ti¢¢ 4pplicabk t<> dwiues Prepari thcir ¢ounts in wth the FuJ8nCi ReportinB Standard appli¢able in the UK Rybllc of Ire14nd (>IIS 1021 the Charities AGI 201 I. Dr Willilms's Trust meets th¢ defini1iL of8 public unth FRS 102. Assets and Li4bili(i¢s gre ittitially r•eoBni8•d w bioorieB] eortortrww¢ vsli imleAgrtlwn¥ie in the Televart EM)Ilcy rA)i¢(Jl. The ftnanciai &Aments ar¢ in strrliu¥ viliiJi £u[TY of th¢ ¢Jwity oThd- mimde.d th the ntsre4 £. Lon8 Lelqeknld Pm ollowtll8 the sal¢ of 14 Cor&pn Squ•r4 Th¢TrLL# h•sM kn8er4ny ihtty¢# ih iM8 L0]d prnperty. d. T8thtsiblc rtxa Tanglble fix rcwgni8ed & co k55 any deprtttation. DepTtciaiion is reco8nised off the LY)A ofth¢a55¢1 ovv itsexFedtd lift as follows: Officc equipment 30% r¢du¢in8 bA14nce Inv¢styn¢nts Li6¢•d inveotm•rtts sd ot m#Tkd V11 (mid-mxwkpt vAliw.) At Ihe hlsnce ¢theet da. Cknges in mwk¢¢ v4lu¢ r¢ uuliityj vi th¢ 8i•tunent of fÉnwKid Adivitiu. Goi#$ tsndlor105905 fjrri8ing from the disposal of sh8rtqaTe re¢wisal &8 beinR 13t4 wlutasgauJJ anwof lom artslng ftom the mtsvemettts ID shore pric•s t0$tEed aE btrinB Itrnin6 ReurceS In¢£1n8 ht cnlitl¢m¢rtt to income is ¢814blislKd. Income fmm l¢Bacies is ril on lIf1(l of impcndlng diibutMm th&t is rAyx)ably ¢utain i.¢. once probste h&s been tle. Inv¢stm¢nl irt¢(the T¢wised orKe ri1 to rt¢¢ive payment i$tqlabli8htsJ. Inwn¢ from th¢ sole of 18 r¢coBni on exehan8e of¢))rth¥L 8. fie3ourcu Exp¢ndcd xpendiluT¢ is included on an EXpditijrr h¥5 Irni alhx¥I a5 ift th¢¢ncloKd schcdul¢5_ h. P¢nsions Thc1Iust VI14 a&fLtL4xI withib¥tion rkn. Th¢ a&tsofth¢ xhpn¢ ar¢ hcld from th08¢ of the Company in an itv]ewdenlly adMintered lund. 11j¢pUL8 Q)ACtwgc • ry)DtrlbudotL5 payfyble to the fiuKI WMI to £7.17 {2024 £7J67).
Poge 12 DR DANIEL WILLIAMS (COMMONLY KNOWN AS DR LLIAMS's TRUST) OTES TO THE ACCOUNTS (c.nKfiNuED) Yer ettd 30 S¢pteMlJ¢r 2025 Funds UnttStri¢t¢d fuo&compri3c thc s¥10a auTrluJ (rd¢fioit from th• SITht of FIT1¢1 Activities which nejther tcstndcd orthsignd fur¥J& Thry arr availoble for al the ufth¥ IEI fUrthe¢tOr the 8energJ objedivesofth¢ charity. D¢sl8nAW ftmds compri8¢ funds have set 8sidc It the discretiLM of tru5t¢ts for ycÉfic purrA)Stt8. Th¢ desi{ fun(L¥ srt setvm in w>tr E to the flljartial statts. Rtstrictrd funds eomprls¢ wexpcndcd bttl¥n( vfthJ4i(ML% aNI ld in applid 8pec¢fi¢ Pl$.1¢ resthd fund5 Tn thx¢ F to tht fin7&1 Endownent fU[Sare dri in (i kn the futhncial ststrrntnts. Thc rthOitiOn of the eI0ent. that th¢ wttsl elcmttLL Is not cxp¢ndablc. Th¢ tneomt arising frorn the etthwment 1$ wlied itt aecorYJ4nce with th¢ wfidition5 ts 5etoui in Ib¢ ¢kn"ty commi551 h¥n¢sth which the C¥t11Y is now 8vvern. R¢lated Paw Transaction5 k rnry1fin T#¥ Dr Williams's'l'ru isg ¢htiritLble in#1b]IX with from UK T under section 478 orth¢ CorrA)raiion Aa 2010 Gov¢rnmMtGrants Cythvernmenl (ir8nts are Trt0ls¢d fiirvajuc of the assd wxiveAJ orrecelvable there is a55UT4D¢t that th¢ 8rgnt c¢)nditiorLS will be met and 11 k te1V. A 8T1 wif5 p¢rfvrnuni¢ IXMMiitiL$ ts JWO8nised in iwme whth the pttfornwn conditions aye meL Whrye a sMt do&8 not wify perfo condittons li i8 nwKnixd in uKome 1 the received or ¢¢ivthblt. A 8r8nt Tt¢eiv¢d b¢ftyt the rec1110 ¢ritwia l$fi is rffo8fil A liability. Jiid8mtnts And Key F.rfim8te& Thc pr¢watio# of finwKiol J¢o¢¢m¢Trts in MPlIr•th FRS 102 requiTtr the us¢ of certRin eriticl accountinR e#miaiu. It50 re4uires monw¢niw aeTcl Ju¢JgrmrTJ¢ in wlyiii¥ TJu>l'5 aGcoun(in8 polieies. The key judgemthts Ihgt hxvp. Fty mana8emettt rela* kn.. The xclcdmm of e¢ful wor11¢ lives for tangible rued ass¢ts.
Page 13 tIR DANIEL V#ILLIAMS LYK IIOTES TO THE ccou YEAR END 30 SEPTEAIBER NUEO 25 SCHEDU 2024 W8985 aD( salatPS Reduftdancy costs ckiHI.qAnrity Penov)n costa 102.271 13,4341 5.268 106.621 111,4 Ono omployoo x• W In •xt•4g oi£eo.ItKI. (>)24.. TlY¢ •¥r•g0 nut))ber the .. 212024.. 4 2024 Tru81 L¥)r•ry 01.69Z 48 847 108.539 38.115 ftènl. 6¢n•t¢ How¢ 11.589 4.1 Tokrtho Pnnting. pctsoo and thlltsrw I1¢h ond Sotsty n•9t profe8•wi FWS IrAuAnc• L8g81 Fe00 Adit and accountsn¢y TNstees' 3,ODI 3,824 1,122 14Y) 13.71XII 12.895 r.673 18.420 15.055 11.948 7th1 eook $lor¥go MCe11aM0u5 CtNrpthr matsnanc• 88nk charw qTrJ •xth•we rJl•dblhrnr 71. 2.107 18.CQO 28.882 2.294 IS,7 702 256,0S3 20 R8188 wo L¥htsrq #nd h•Ong Insura Caretakers 8aL8ry. NIC and wrblth Esi4blth))ont and d8an*¥ 14.121 11.196 37.928 2,833 BurgLaralarms ¥nd s¢¢urity 2.741 1.342 1 R71 ).7
14 MONLY KN THE ACCOUI CONTINUED EPTEIIBER 2025 CHED 1st Oct 2024 2025 26.02 10.020 Gonservallon Furvj MlcrofilmiN Fu N•w COlge FUTr Dook acqUksQn fvr S Wa8 lactur• GLq8gow bursary 17,063 11.0331 11.2251 3.460 15641 1,102 1.102 57224 eAI.410 Bala• ai Unr•¥lwl 1t Otl 2023 B•larw •t 2024 36,024 16.020 1,033 FuTrJ MlcroFnhg Fund ¢olW fund BIbS ana Onlori) S. Waks Glatgcw4bur4Ary 15.020 1.0&1 65,216 1.827 The orsin•l will of 1711 dlrect•dthé init181twst8es topureh8s8wlxtd6 Srt•iohouse the coll•eiNon olbooks oforwllliarns. Thh m Fkl L8ryth¥ thrOh tho •fvJ f•h in¥UffithfjJnd• h•J b••n made availabk irs The M ferih wrpw. tt * noi krwi wm)an8Trt dnIOr tsther th• ondo¥bTn•ntw•# t¥•9j uTrJ8r th• 1875 whern ts (thrlty was r18d und•r Endmd Scho1 Acts or 0n• efthe wbwupnt st1mm. In 1727 Ihe thgrlty pur(a¥wJ a to tKtheV Its. IM aiarny nas nbJv•J y¥¥t prohth proc•edJ hÈb t4¢n to 9•rw¥¥n incom• m•inl•hTr fv knrylor th• Prof¢N(mIn H BAyw wkn died 12 Fd I1. 8&¥t his imrKrM of i¥¥th rrlating to Ihe Byzantyne Roman Ewwrvs to the Lty. He alw £8 t)dlng suth books as needed bindw)g gnd for catskyuiNJ. £3.[ to bt ivo$18d lo an C(ne to Pufchase liev. AJatL B*, knJbJwi145 bisthath in Awil 1991 hiry to £TI.169fofv. Tnvj frff oftrt LilThy.
pa 16 DR DANIEL WILLIAIAS IIMONLY AS DR VII OTES TO THE ACCOUNTS PMN END 30 SEPTEMBER 202 ruy CoN#ucel. F¥A G FN¥lldl A donatknof£JJ,(KX) th 201J Wwhl wstof JtffiYP8*rtd cni1 witsl wojrxts forth¢ Lil¥wy. The brienthof Dr willian,$ was e4abliskd in 1946 with thc ty'thv¢Jq> and m Ar¢lJlb4# This Sjnd i•to 8¥prKLth7 pxtof w¢hivi
PAOA I NOTES THE ACCOUNTS CONTINU YEAR END 30 SEPTEMBER 2025 EDULE F. RESTRICTED )24 2025 R@¥. A Béès Fd C I Smith Fund N B&yrs Boqu••t peal FuTrJ FnÈnds of OWL G NuttBII Idv inc¢ml Sw81 Catrlogu6r 8&FUA Catakngi PAinlin9 R#slora Arthivist Fund J Morgan Con8eThf•Jon 50,378 A1WJ 68.328 71.302 24,539 17,588 13.4SS 76.799 3.7 16.574 12. 87,7 1.014 2.734 3.748 1581 11.CO)I 32.114 1.525 32,114 1.525 1.268 2.840 2.840 $3.WJ1 478 17 918 Ilp•d #nd Vnvoalw 1•1<)¢t 2023 2024 Rev. A F] C I Smith FuTrJ N Baynos Be981 4)peal Fund FrndS of DWL G Nutt811 Idnl Income) ?POGiDI Gatakn9y¢r apvA C81810gU PaintNYJ Restoratkjn thMslFuTr J Morgan canawaOn BaThrbon88ryJion 47, 50.378 81.960 23.008 16.574 12,e62 67.097 58 11,CAJJI 1S.784 12,e65 810 (ZOS21 1.188 (T,77) 42.114 6.571 1.626 153 53,801 8,577 322.345 DUL 2025 T4*12026 i arrtJI Dfrbtors CaBh wnd Bgnk CF¢ditor& 2.239.6 2.584.807 26,e451 I145,4} 14,203,101 199.2301 80,410 16.516.919 18.7Y2.7
Pag>17 SOR XOTES THE ACCOUNTS CONTINUED YEAR END 30 SEPTEMBER 2025 2024 Fur Tral 2024 Tan9i¥ Aaaots ueoiors Cash 8nd Bank cr•d1 33.788 14.740,612 15.083. 11,913 46.4C 1495,3421 189,520) 1,092,079 169.5201 t8.307,854 t6 144.768 2U25 8P Ord $0.25 Royal Oth SPb•l F c1 Unihvr Ord 03111 Tiiaxo Srnrtnl Ord 28p Na¢thal GThJ l)d.12431289 70,124 117,028 Ri.4 113.364 I•,977 162.795 dd1M 77.113 17,8 4.422 1(WJ.323 57.112 19.805 14,14) U.105 58.327 01,637 83.341 83.5C 173.817 52, 23. 81,685 117, 90,082 l(XJ,143 100,102 96.508 99,123 9B,267 79.701 79,520 79.647 50.336 Mayl•K W Prop Tfc VciaioM ¢iroup oro USD.209J2$8 BHP Blllttm Pk USD.50 Intortak Gro4) ORD Gep 01 M•n GLG Undrnl A•lPwl D IN8¥ Kr uP Orf £.01 Inf PublL P8rf ORD G8P.COJ1 HICL Infr¥iructurg Co Ltd ORD 1th1 Flrsi Trust Gk)bal US Equty Inc Art•mo Fd Gkèal Inc Franklin Tompwon Fu Bohrodor Ufirt Ilorn• L 975 n.03B 19,921 65,250 128.474 81.8rJ I.155 189.147 110,7C(I 110.883 105.ns 5.150 100.391 1CQ.OW) 128, eA.211 Rathbone Ethical dofvj Joni H•nthr8on UK & Eur Pthj G UK 4.126bondu 29I01m UK Inttex I1•) LKMVJ 2?2 Ruffsr Inv Legal & f*rwal Lmit trwt13 UK 5% 07103 Global X ICAV Cwr 70,703 51.477 sswJ 108,410 98,034 7J,258 51,4Q 37,DJ) 121,194 1Cp),821 79,87S 43.541 .on 13.1C(1.293 30,1 45,982 Capital 8co)urit 15.683.454 2 229,138 Coprtal FWKI IS201.( 14.599,993 J43.278 138.e68 In¢ 138.955 15.081.537
PL¥¢ 18 Mo THE ACCOUNTS CONTI EItBER 2025 CHED LE H. LBTED I AT 2024 Markolvgliw 1 nr4thr?n?4 dillons at oxgl Reaiiseo knvestrnBrn gal Unrealised inwsthntaainslk45es t¥spo$o 15.rffj1.537 13.036.678 140,2 140.U4¥ 11Z723.6741 2386.311 24,W.655 59.622 114.1f 112.483.2171 M¥rk•tValue 30 Sryrr•t2025 15 081.537 IBLE At 1?t Othbor 2Q4 Jthns In year Dty4als kn yaor 1.199,241 49,672 11.247,9131 COST At 1stOctcthr2024 eth1nr 2.352 At 3(th SIFItr 2025 2.352 2.352 DEPRECtATION 181 oc¢rt•r zoz4 Oepreoo1n in war CARRYING oLINT At aolh Stpthber 2025 2.352 HERITAGE ASSETS Tho Librlry h¢)Id$ 4 c4 manLxu¢ts 8TrJ aT¢lwA manal that has W 80]uYad lorfulure genvrntr)ni. cost ofoblaining telble ¥aluJtXS C4JrpJrnd to Ihe benefts to tho uaw¥ ofthe aturA8. CHE 2024 otheT¢Jel)tors 11.913 58,318
TOTHE ACCOUMTS CONTI 8ER 2025 SCH 2025 2D24 Othar 1.324 97.912 87.974 89.520 Procaods olsal Dhpo881 costs Dw¢x•l of 13.500,0 1284,5881 1,247,913 11.967.501 No truytse reLNed remuneralpjn thJnrwJ 12024. MMI. TruBt••• r? roknnbur88d £610 in exponw m th& ywi3n4-É2.CQ41. •tThe UnNer8ty PMWBq• Ao part of ihv 8grathnonL DrWwo'J Tru aThJ u431ty ol1lwb¢tsr h•¥e onter•J Into 8 10 Or •ar?rt ThB tolBlamount th15 temi * £1.883.W VAT. Thkn to salars of s•lbl In 4)nl 2Q6 first lorpayrtwt•w•*J in JY 2028.