Cha1Y numb•r. 216479 THE WALKER TRUST UNAUDrrED TRUPJTEEV REPORT AND FINANCIAL STATEMEKr8 FOR THE YEAR ENDED 31 f•lARCH 2022 WR Partners Protecting fulure.
THE WALKER TRUST R•frene8 and admln15tralfve detslls olthe Tr( Its TnMts•8 and adv189 TrU5t' report Ind•p•ndent 0Xthner8 rnport 9-10 12 Nots• to th•financial thm•nt 13-22
THE WALKER TRUST RWENCEAND ALYIINtSTRATIVE DEfAIL8 OF THE TRUST, rrs TRusfEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 &rA E Hwb•r-Pwty KV40 JP. Ch Mrv Hunt Chalb717an crf shrop8h1 Counct Mrs C PaloTrSmith IAdy Forn8tar S Reynolds (8orough rlTthrti and Wrekln) Mrn A Hartley {cl[Mn ol&ropshir8 Couwa) Irwned 10 May 2021) Mr B Wlmknqms (appotnlod l JuM2021) numbar 215479 Prtnp oll 2 Brddden Way Bay3ton Hlll ShrwHsbury Shropshire SY3 OLN Chrkto th• Tn•t Mr E 1iEt Chartered NKc4Junlants Belmont House shrtsUry 8u8inBBts Park strbUry Shrop5hir sr2 6LG BAnk•M PLG I Pride Hlll Tvwsbury ShrOhlr8 SY1 IDG Tru•toM Invastm•nts CazeTh)v6 Capltsl Avra LeoI Hou80 Ch*r CHI 1RS Page 1
THE WALKER TRiIST TRUSTEES. REPORT FOR TrE YEAR ENDED 31 MARCH 2022 Th8 Trus1 PT8e•nt their gnnual r8Wrt tokthr wlth th8financial 5tatsffnts of the Twst for Ihe pariod fmn I il 2a21 to 31 Marth 2022. ObJ•ctlv4• and a¢livill•s Policle• and obJ•dlYo6 The dutieB pbced w)on the Trustees under th?Wll a as fc41tr4VS:_ la) io In$1th8 Caprf of such Tntsl Fund in 8ny of the herety auth180d. Ib) tD 8ppty the Incorng of such iswe5kn1ents to all or8uch of thè folLA¥ing purpo8¢5 os my Re8¥1uory Trus&S from fjme to time think benefid&l. ¥z". in the gslthlffjhment or towards th8 main10nanc• of llny hcqrkl, InffTmary, conYalgsra)t hom¢ or oth Irthbon havkng for Its (ttt Ihe reliOf 3lcknesB or Wn011n9 corNBl88cence. tha PTDViSton of medlc41 or 8urgi¢31 •d or wlances. -. 8ny Instituti)n for tho MaintenCe and educalon 0118n& . thè provralon of m4n$ of8du¢ali as are ntsl. forthe belny, wovideAJ for by npehlg1 or tyxatli)r Ic l I Wfe88iy (tr1 thal in casa. for 1h& purpogos •ford my rgsiduary Trusiee5 shall unanKnougly resofve that it is eXPEdntto axFeNI any part of the capAa of suth TTU8t fund8 In the ereclfon or fumishing of buikllngfor any of tha 8foresaid purposes, they shdl trTrava full pow& to th). In s¢tt11g and planning for actfvKie3. the Trusteès Iwe gi4Fn due c(xwderatbn to genwal gui¢Jan¢e published by thfr Charity Commisslon raknung io pIC b8n8ft. Indu¢fing tho guldance PubliG bengfit runnkng charity (PB2}'. IK Strat• forachiwlng obi•ctlY•8 Th8 aim of the Chortty 15 to make grants for tho pury)w set oul abova to improve the 15fe or make t C¢JfK¢rtunltss for Iha peop of Shropshiro a6slsttng wlth grants building8, •id8 ar equ11 or to asrJwiih the cn8ts of education or educatNJnal OPPQTbJnitEs. The ChariW$ oiain objectiv8$ for eath yaar are th¢refort to use Ih8ir in(me for thas8 purpose8 athlev8 th888 objects through b•iThJ wk1& known throughout th? Gounty, to ¢yganisation8 that ar8 pToMding fgcilitios v4thh mgot the Trusys (lIbi? Obj •nd throLyh contfds h08Pttals. hospts& r£wnals, ¥cds, cols and unIver. Grantmklng jGI The of th• Trust IS to make grants In ac0)rdW with th8 crtterla $8t out by the Benefactor. Th080 c<wer in brwl tems fhe asSistae of haath and thsability, han5 and educalion and trnInG. Tha Trustees considar apFIKalh)n8 under any of theEe h5 and intet them In a vhdg and g8ngTal s8&. Th8 TnBta8s ill nomolly a8stst in (8es outsth Shr(4)shlre unless the County pUld Jpecfficaty Iefft thery. In the rAse of applIlon8 for assistsnce from indIvu@L$ thp TFUSte•s would norma exFrff the apF4i¢3nl to b• rgsklent wlthin ShrcpshlT# at th8 tlme of th8 arplkallon and for the prthous 12 rnonths. The have that al (ttsln intervals thry wll consider the finart¢ing of 80ma major projeca of bsling benefit to Shmpshlre. Th6y hava establish a reseNa fund forthls purpose. Thè Truthèsmnll u88 the bulk ofthèli IncAJm• anyy8ar for grants vAthin the oWIv96. Awoftho Trustee8 full gr&rt poHry18 Ayaab fTrym ts Cknk. Page 2
THE WALKER TRUST TRUSTEES. REPORT {COlmNUEDI FOR THE YEAR ENDED 31 NIARCH 2022 ObjVaS and acd¥1 (contlnu•d d. Ilaln •ctlvltlgs tsThd•rtak•n to fvrth•rtho TN•f8 purpo808 forth• publtc b•n•fit ty tha. Ch¥lty Commlsskjn on "ChartlaB and Pubuc B8nefif. The Tn$ ot4'&Xs clearly come Mihln tho deau& of 181&bI6 puy>8e8 ag 8et (xrt In the Charfues and thorè are KIÈntL beneffts from the grBnts mad& Th& t)0 ar8 to tha Publ i.& tha p8oph of Shrcp8hire ar#1 grnnls 8r8 m2 in al[dance Twth the Tru8f$ A¥n8 end objectlv8& tr) hoBPtals. 1K>¥S and educats81 lnsfrtu and ¢Mynls8llons benefft the whalp population ofthe County or Incre990 tha oPrtunNI06 avaliabla to them. In con8tderlng 1ndWU epplkbon6. the maans of applirants and whero appprEaa tholrfarnilieB a looked at and the Trustsos taryet thr holp to a8nts lryV irmm• Thks gmjp indudas young lèavng car4 astrarogd fmm thair f•nifj, sr and chlldren from famille8 witti low Inc0. and freqUentthOse l'n9 on Bt&to benoffts. Th• Tntst #ra thwefcye sa th&t thay habe with the dity in Sedion 4 ofttkg Chathskt2006 lo due regard to the pubgc banefft guld thied by the Chadty Commlsskn. A¢hlw•m•nts •thd p•rfornMn R•vl•wol a¢tlvllle8 Thts aJaln a dfffflcu year for the Tnjst bU58 of the Covhj pgthnk and the Gov9mment reBtiirkns on meg1ing8. Also, tho diffi'cultlgs aristhg frcrfn th8 pandemlc and I0(d, the eC(vK outsook and a 8ubslantk reduckn in inu)me from investmts. Tho rwlt wag le mon6y belnu 8V811gtl& for grants to Or9bUn5 and Indfvidud& TStea8 had to adJu8tth&trgrrtghlng acB•. The Trustee8 mainlained th8ir pofry of restriLaing thor grsnts lo ShrWire persons or projects bbrtefiting 8uth PaTwn8. Grants conthue to bb madg towards a eAmplng equlpmwt bank run ty the Shropshwe COUAC Ytyjth Services and the ShrDpshiro Schty)Ls and Colleges Athknti(% AFSQ(48don whK P[Id OPFQrtunrkn grants orasslslanca lo young p8cg18 of axwtional sporting abilty. The rgqu8sts ft>r grnnts lhI the Trusfs obJgGtivgs cimtinug to be rnade bolh the areas tsf Haa#h favl DlsaÈ41Ny and Educ8tkn and Trninlw. In Iha of Inthkjual grants for educational pur[8 the Trlte0S continue to concentrata on thg furthw gdueation t8(r 8nd th8 ¥reas of rnusq drana and the arts where al1 L))Ets arg cw&d8rabk Th• have TIntaIned th8fr provk)u3 deLiTiDn that unbss th9 arp ?pIloThl iircurn8tanixs suth ap di8abifty, Mll a88fgt ShentS in hrgh8r •Juc8tlon ag asswtancx is èvailabio sOnI rinan¢e, wrfh tho exc9rOn of medical and vpterin•ry u•S the88 Bre takwi ¥ec(Jnd dege8- In th8 8r89 of •ducallon and the Tru8ts88 mada grants of £1.orxi or mor8 to Fla>Thlll Malllng8- £S0,fftXI, Centsp SluBwsbJry- £15.IXJO. Imnbridp Gorge Mu8wJm TNBt- £7.600, P0c& Communtty Club - £1.000, Engineéring Devel¢¥ment Trust- £1,500. Purchase of Grand PiÉno- È5.LXIO, VCH Shropstiire- £S.000, sh¥bUry & OBWBW cn11 Crew. gOOO, Educaliny Klds OutlooYs.£3.750. In 8xc8ss of 8knn grants warn mad8 lo i[dual£ and orgBnisattorA raThJing from fdOO to £2.000. Of tlw 6 ¥Jern Irun parent famkn. 5 from famlueg wh08e maln income wa8 benefits and 2 from yojng pec estranged from their famtlf•s. Fr wer? gts for mus< drama CK art 5tsJdtes. mY of whlth sutAIBnliaL IAfthut thé Tnw19 gWPOrt r1 0fth I1[¥1([al8 w0d bean utth to undwl#kethÈIrcoue In the of hoalth dthI, thg TneB made grants of £1.000 or morE to DfrJwen - £4,OlJO. Gukje tkg9 - £1.C¥)O, Bltss £1.000, Neuro Muscular Centro - £1.000. Mtdknd AlrArythkn- £5,000, MNN- E2,000, Climbing Out - Q,000, Revital$8 - £2.200, lfjds Concer Charity - £2.200, Look Gocd Fgal Bètt•r - 2,01)O, UvvyJ Partings. £1.000. Blnd Veterans UK-£2.000, Hoaokny ShTOPBhlra-£1,000. Page 3
TrIE WALKER TRUST TRUSTEEW REPORT (coKniwED FOR THE YEAR ENDED 31 W4RCH 2022 Achl•v•ments and p#rfonnancfr Iconttnuod) All ofthose graTbts th8 Ch&Tity lo rr£et tha obJecbkn5 89t by the Ixnafaclor to provth grants In aroas Sot in the and m88t the pU)C bemfft requirements. The Charity hgs srxno funds that wore gNen to thern by tho Ath RaId El10n01 Tru& for the spe(¥fi¢ pue of ass18kng ShrOr£hI glrls ln prNat8 educath)n. FDur grartsfrom theee wern m8d8 Ihlg YW. b. knv•stment polky and porfomianc• The Tru8t? make thr orants fmm tho incExne from Ihe materfal inv8thents hdd. Th• Trust irN8thRnts are managefj by Cazenove Capital. The Twste88 gengTa is io kd( for capTbl growih to maintaln and hopgfvyy inu8ase. in real term8, the capHal alue of thts Tru3 por? Ihus mawtslnlng th8 v8lu8 of Ih? portfoli? in reo1 tern for the fuiure, whilst akn mainta&iing a gDod IA of inGomg to enabb th8 Trust¢es tr> meet thEir tharItab otiediv88. The Trustees, mindful of their legal dutigs, OFeRta a ConseN'Ve tnvestmont pow and do not LwKlgrte undue risk8 wltt regard ID Inva8trnents. Foknlng Ihe atJpolntmenl of C8zenove Captta as twr Inve5bl Manag8rs. Tw$t5 agrwed them bonthmark of growth of inll•tioll + 3% for tha new Portfollo. Trust885 this was a mmfor gr&ter capilai grcAth than their kywicyjs invesknent stratsgy arKi would pmwdo 8 knwer Incom&. but Ove11 a toial rglum of 8pprox¥n@tety 8%. In vJrg0ing thiB strattyy, TrusteÈs ware thet they dtd hav& Ihe atiilty, rf they wished to u89 capital for approwi8ta pryc The Tnthets quartarfy r9PQrts on Ihe ue of th&r pcthio and on th9 aconomlc markot outlooks and whgthor any thanges SIuld bo m#¢ to the Inve5tsn8nt stsBts9y. Twkn yoaTly thg In¥gstmw)l Manager8 attend a Tru8t80I to gNf& crfal rBPOrtB, rnaka suggoBlion5 for eTrt strategy and for r&view of benchmarks and for improving Iho management of the TrusV8 PortfolKI. The pwbmienc& of thg funds is mwjred Bgainst tha b8nthmaFk. In thk5 yw 2021Q2 Ihe For1[0 conlriLted to rgGwer lh8 Covxl shock thg fund gr by 8.2%. The ralurn ¢)n thp porifdio irE income was 1.88%. Tru8t885 vill ke8p pgrform8nce unckr wièw. Flnindal r•vi•w & Golng ¢onrn Afler makn'ng 8PWOPrtate enqulrfgs. thg Tru3tee3 have u raasonable exPtallJn that thg Trust has ad8quate re8OUTces to (yJTrtinug in Lp8ralional •xlstence fDr the for•888abl8 frJlur9. For th rngson. they continue to adopt thB golng concem b&i# in Preping Ihg flnonoal slmonts. Pagè 4
TRiISTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The rn8uIE8 of theyeafs OFrntron Bet out in the atthd Strt9nts. The net moiTmont In fundB for tha moUnt$d ID 8n Inc¥699e 01 £444.39312021- incrn8a of £1,162,4711 The rethlned reseprns al 31 ma 2022 amtyjnt to £7,013,69512021- £6.569.302). Fre8 Nar¥e6 amunhl to £172,83712021: £216,)2). Truthes do$6ty m•t¢h their grant lo th8ir inc4)rn•. Incom• and •4oOn(lité • do moniliY• during the yBar. Tha Ttee¥ do nothve ony fund¥ In dpfidt Th81 ThMtae4 agve&J a fomwl R88eDfft5 Potty tthng irrto acrA)unt Income and esllmth ¥rvJ g0Vemar and 8tFport C08ts. They havo agreed that fro0 r•SerV 8hId ba rndntakn at a r8vB8d figur• of £50,rJoo. In tttn9 thts figur< Tru8leBs notsj ttMlth•ir cmts h•J r£dud in recent arts and th r•vwt figur•would covarfour yws d Nnnlng cots rf no new gtarrts wer• mad c. klatsrfal pollcy The ChartiS p¢)[ lundlng $our¢g5 arg 118 Invastrts dotsHed 8bw. Tha Inc¢irng from Ilwo inva¥lments support Ihe key fundlng obJecb¥ps of the Chanty. Th8 Tru8tee6 hBve not any Kiat. vIrOnmental of ethlc81 con8pJerattons in thelr inveatrmnl pJThcy. Th6y dtd ihb y•ars ago tkrt deck11 ta fJ)nttnue trj mntaln thg exl8iTng pc4tiJ. Thls k% beca M rsstrthrn YM& 8peth by1h• benofth whon Charlty wats e8t4Nithed and thatThtlEt £wIng such a potsYUld not materi effecf pthan(x and Incomg at thi tim8 it rAwld do so in tha futtwe. Th8 TFU8tees do notf•o1 thereforn that thty knubj athytony e3 that wht affect the Thtsvs trAncl81 wlom)anc8 In firturB. Slructhrn. gov•rnance and m•nag•m•i)t Con8tiknrtlon The Wall(orTn ts a rngtstw8d (W, number 215479. and IB ty)n6titulsd undfjra Trust'dged. Tho TnKI was form8d undBrthe of Charf88 Cl8m8nt Wdl(er, JP, of u111 Okl H[. M•wport Shropghirn. WI ¢bfh¢d a Trt devoting a FQrt of his Eskl& to tharitablè purpow a5tst418had the Chaiity of CknntWal(erkn(yttn 88 Yhe W8]kw Tn1.. Th• Char*y waJ constilArt•J with Ihige reprEntative TNstees together wllh CPA"mMn and vkChaimWn for the of ShrOFhlre c(clI. Sub88quanty. w88 agwd to T81ford and Wrekin Bot Coundl a180 lo nomlrnte a Truste& TM Mne8 the ronS currandy 0Upy9 threè tharitsbla pasit5Dn5 aro sat 8artlor.
THE WALKER TRUST TRUSTEES, REpoirr (CONTINUED) FOR THE YEAR alDED 31 fiARCH 2022 Structhra. qov•rnan and nww•mantleonknu•d) b. Mathods of appolnlment oral•ctlon of Trustees The marogvffl8nt cé tha Tru8t is rÈsp)nslblMy ofthè Tru8te85 vthD are and ctroptgd undgrthe tenn8 of th• Trust deed. Whw a ThraCy for a repwentath Tru8teo (mirs, ts Tru6te88 8a8k to r¢a with Snne ¥Ashes to 3er¥e in tha sectQF. ha8 a kn¢yMgdge of 8ducathon andlor he8th. has a knNledgè of the County of Shrcy8hlre and al 588k to athieve g gwgraphtsl Spr of Trustees around tho County 8r• Ihat they are ab to bring their tgcaS knowledge to on aFfAl¢ations. Tho Trustses also se¢k to appoint yjunger pernon8 a TTUSte85. Names of Feople to be consldar8d a¥ Trustsw or8 8ugg8sted by the Tru8ts88 arKI then have a prdlminary inlgrview with the Clerk to wJpl&in the cliVe6 h18W and otion cl th8 TTu31 prfor to the Trustees mthng a fomwl awinknenL c. Orynl•atlonal 8tructur• and d•chloJMn•klrtg pollcle8 Thè Charity Trustees u8uth me8t four tknas a ygaT and take dedsbn8 In rdat(on to app1On8. The Chairrnan and Clerk havo delegated aulhorty to take urg8ntdeci8bns tii meeling6. Th& Chainan 18 dted to tako de(45ion$ in 811 cases Whi the crk'S d8gated authority is Iwnit8d to gwls up to £500. The Charity 18 not paEt of a der notwork and has no sub91dla A fomMI prooèduffr for teG8i¥ing and con8ldering ¢txnpl8ints placa. d. Pollckn •dopted forth• Inductlon and tralnlm9 of TTuJI••s When new Twstees arè appolntod thèy iTrvaTlab have alre8ty sen4 In this on smalw TNsts and are given an introduction to ts woth of the Trusl, a bf history of tht TrusL an accfjunl of tha recent wcthngs and coples of theAnnual Report and pTrvlou8 agermlas. They go through tsalnlng S03 with the GI8Tk rf tequirnd, on the r&sponsibffib'es of Trust, tha oy0rr1ng duti of Trustoes the need ts d8dare Y interests OT relatsd party transactkJn¥ might have at maelirrfJ& Tru8ts8& and the C19rk aJ80 atl8nd rd8vant semina and tralning COUT p•8
THE WALKER TRLIST TrusrEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2022 Flnancl41 rlBk managemenl Th• Tnjsteeg in pkn a ri3k matrtx Vlttti Idenllfi85 thg rlsks fathg the thrfty, the rnntrof procwJuréB in place, Indivbjuats ro?pon&9 ftjr suth controts and monong pre5 The riK was last reviewed in January 2021 In aBBas81Tr4 rf8k6 TrEthe8 Ik intri aLrount Ihat tley do not any PfLygty or any dt empw Tru8iD88 akn rdy on thr cf4Jltal eThknwm8nt and do not fvndrse on an ongthg b]& Occ4Stonaty, fvnds are contrft)ubJ to itte T ty ollm organi8ations. Th? Trusle9s thly m8lch thw grant to th8fr 1c. Incixn8 and oxwdllurfj are cw monltored duriro the yeBr with thg tran¥f?rS to gn ¥QKnuIa r88èrv• a(Unt sa that r898N8s ar8 avalabl8 for ftrture m4or c4 grants. Th• (S) +xca81onaity agm to atd a txoject with c(¥ib1k> bolrvJ m•do ovar ts nex or threa ywirs. Htr¥er thasg onty lomi a 6mall prcwtKn rf prqethd annud irtoma and not ctnwth8e the TnwloeB ifth8rnw#8 a doWnrn In in any one year. Tho Trnstees have fomi81 bankir amingements arKI have enter1 inb) en uAd¢rtking and agr¢oment wlth tsr banke a8 Banks are requ1j to do under hgig1gbDn. Th8 Trust has subEtsrtW In•J fund8 8nd thlB carrf88 Some TD minkn ttr fl¥k8. TrbEtee8 LWrnt• a Investrt ptslw and u50 thé swvtces of ProfOnal Inve8trnent managers. Tru81•ts in¥t li fvnds TpJhb carry IN risk and low laIlty. 889 on It pollcy and perforfrrancg. Tho Tnaa& {[n ar8 Ind8peTh18nUy and red Nluang rth offrwl arvj comp th018 rwks effectN•ly. Fks rnvi8wad on an annual basi8. The TN8ts0s pkn to conlTnuè wfth th•tr current avns and kay oWbv8s on dlstrArtlng gmnls In &c0rdanc•ith the Obl¥•S *t by tho benefathr. They continue lo do this by maknng th8lr gAnt p)fKae8 througFKXrt thg gwJt3phiral County d Shnyshire by con8tdEiing appliL¥bong fIn otyaniBkn gTOUPO and Individuat& In 2072r23 th ar• look4 to o)nlinua provkltr]9 as518tsnGg to the new UnlSty hi shSburY to encouragè ShropBhJrg dud&nts to 8ppiy. Thayarn al80 hon9 to COnth 8141Fh? VCH Shrop8hlT& And Iron GopJ• MuseLKn Tn Page 7
THE wALIlTRu TRUSTEES. REPORT ICONfiNUED} FOR THE YEAR ENDED 31 MARCH 2022 Statemont of TrUBts• rn¥ponslbifrfi The T•S are tespon81bt8 for pr8pathg the Twste•g' report and th8 finBn¢kl slatgments in accDrdanG8 wth appwle law 8nd United Kfjngdun A(£ountiro Stondath (Unitgd Kmigdom Gner knèpled Accounting The law applic8ble to thorftloB in EnglaThJ & Walu wulr08 the Tru5tee¥ to pY¥pare finanrAal statgmgnts for each fvanei81 which give a true and fair W of the stats ol affai[5 of the Trust and of its i)¢cvning resource5 and application of resources, includtng tts kncoma and w•nditsJre, tor IM p8lltsJ. kn prOFwvig thosg tlnancial 6tatpments, th• Trustees are r8qulrBd lo.. $uitabl¢ 8c£ounting P¢¢1¢8 and Ihon 8pply them fxTrn$isknty. obsorvg the methods and winciples of the Clwthes SOFIP IFRS Iir21: mak0ludgTr and a¢xounVng estlmatas that 8T8 rea8onable and prLxlenL stato vth•lher applicaNe UK AcctIn Stards (FRS 102} havè he follow. Bublgrato any mat8rial dBF*lÈires (fj8dosad and expl8lrh8d in the firtancfrJ 51atem epar# tha fiTMncial statements on tha grAr¥J corKwn basls unlw * 18 In•ppropriBts to prowrrn thai th Trugtwill COnnO In kninos& The TNsleeg rde Mpoiisbi b for keèping ad8qLwl& acuunltng record& arn suffKient ta show fjDd ry18in Tru8f8 ts8&08 and di8Ct09e with rnwxsnabte accuracy al any tffno the financ1 FQBitv)n ofthe Trust and enotrle them b angJrn that tnè finandal ststements compty with Ihe Chwities kt 2011, lh8 Charty {AcrAxmls Rop1 RegulatK•n8 2008 and the proVin8 Df the Twst dee(L They are also rE>sponth lof 8afeguarding Ihe a8sets ofthe Trust and h8fK¥ bjrtakng onabte 81gp¥ for prpvention and detectloD offrd and other irrwJukritis& ADWed by (Kdar ofthe mernbers of the bwd ofTrustw and ¢)n their by. StrA E Herb•TrPgw KCVO JFI Chairof TrsJ8tees 1027 Page 8
THE WALI(ER TRUST INDEPENDENT EXAIMNER'S REPORT FOR THE YEAR ENDEO 31 MARCH 2022 l Tvrt to thp thgrity TnBt99s ty my gyamlnatlon of th8 acwunts of the Tn1 for the ygw ended 31 P41arch 2022. Rwn5rlllla9 and 8A¥l• of R•port s the TTUStees of the Tru8t iou ar8 re8pon8QJlg for Ihe OF the lUnts irt th• requIrnts of the Clwrfde8Act2011 2011 Art). I ret#xÈ in rayct of my &Yaon of th8 Tru8t'8 accourkts carrlod out urKler 88dion 145 of Ihtt 2011 Act and In Carry out my eJxnln8tion I have followed the 8ppli(ate DtionS gfvan by tha Charlty Cnrn51on undar Son 145151(b) of th• 2011 ACL Your attention M drvwn to thè fact that th8 Trust h83 pf8paTed tho In (x>[danc vAth Atrounting and RepcUng by CtrAiti8&" Stalwnant ol RarummèndBd PrnctKti appltC4ble to th&rilTa¥ pf¢pBrtrvJ orzow]ts In ())r(laa with th8 Fui8ntid Reporflng StaTh1ard aprknblB In thg UK and of lthnd (FRS 102} in preference to the kctyjnting and Reporting by CharlUÈs: Statement d Recrjmended PradicE i8su•d on 1 April 2005 wllth b rthryed to In th8 regul#fbns tKrt hu$ bgèn wlthdrown. l undtt•t•rxl that tN• h•B be done In ordw forthè accounts to provld• a Irutt and f8lr vt in Xcordan tha GwwdtyPLC4ptsd Practè effth for rePIng wiods b4lnnlng 0rdIar l Janry 2016. I have conwetsd ny exennation. I confwm tst no matters yJmo to my a11gntlon In (¥)nnedioft with thg awrfng reuxda w•rn notkeFln re8FXCt oftho TnJ•t OB raqulr•d by8XtkJn 130 ofth6 2011 A¢ or the fjcuunts do not compiy wtth the qFpltiblè requiremanls corwing the f¢mi and content of accounts aet out In the Charft Wccounts and R•portsl 2fnB otlw Ihan otry r8qulTam8nt that th8 aCcts w a Irue and fair, whith is not a mtsr conBKlorad as part Df an independ8nt I ha no rJxffii$ arAI ox7J• ac¥osB no olher malkn Mi non wlh the 0x1n4t to whk*
THEWALKER TRUST INDEPENDENT EXANE5 REpoi¥f {CONTINUED FOR THE YEAR ENDED 31 IAARCH 2022 Thls report 18 mado 9)ly trJ thg Trusvs Tr1, os a bo. kn accordanw wilh Part 4 of tho Chartti (knunts and Ryrt8} Regulation$ 2CA)8. My work ha6 baan und8rtknn so Ihat I mht staiB to the TTUSts Tru099 ttme matters l em requifgd to stgte to Ihem in an IndreThi mIne¢S report and for no other purpose. To the fu1198t extent penItt0 by law, I do not or8sgum8 M8pbi1tylo anyon• olhtt than th? Tn and the Trusl's Tr[&5 a8 S body, fur mywort( or for this rewL Slgn8d: S J TwA8 88c FCA DChA WR Parfners Chartered Aecountafits Beknwnt House Shrewsbury Business P*k Shrvwsbury Shrcyth¥¢ SY2 8LG Paq8 10
THE WALI(ER TRUST STATEMElll OF FINANCIAL ACTivrrES FOR THE YEAR ENDED 34 MARCH 2022 fund• fvnds nd8 20 Not• Inv8slments 142023 134976 Talal In¢on EXP•ndir• on: R8i8irvJ fundB 132,224 142.tr23 136,476 32.672 34197 31519 Grants 9,760 126J140 10.716 130,790 iO.W9 112.361 2,41r) Total •xp•ndltu 168J88 la1.796 147.290 Not •xp•ndlbJro b•for• ng1 yln• e (1609) 31090 P7.1641 (39.773) 4B4160 (10.814) I.ITa285 Netgokns on invethon N•t mov•m•nt In funds 418112 1.182.471 Rocpnclllallon of lurnlB: Totat lunds broughtforward Not movem8nt in fund6 483.696 29,281 6.OBS.606 414112 6.569.302 440Q831 1.16Z471 Total fund¥ Ganl#d fvnvard 6JOO.718 7.013,895 4569,302 Thg Statn0ntOf FiianGiBI A£th4tbes gakns arnl Ioss9s rv¢wni58d wi lh• Jw. Pag811
THE WALKER TRUST BALANCE SHEET FOR THE YEAR ENDED 311i4RCH 2022 2022 Inveslments 815,186 6.353.376 6,359,376 Cunwt D8btOTS Cash ai'bank and in hond 5.1Sq 310.202 330.178 315,363 330,178 Credlth". wnountsfalling w51hin one 11 1117,343 (114.252) 198.010 215.926 Ngt asots Total not 4880ts 7m3.69B 6,569.302 ChaTIty fund• Restrict8d funds Unrp4rfcedlunth 12 12 1971 8.50Q718 463.696 6.085.606 TDtsI fun 713.8$6 6,569.302 Th8 financial t8monts wer• aPPToved and aUthOrifOr by the Tn* and s19rd on thelr Lehalf by.. Sir A E Herb8TrPgrcy KCIIO JP ChaiT of TNstee5 ioL3 Th8 notss on p8ges 13 to 22 fom part )fth88efinanu4 stat[ Paga 12
THE WALKER TRU8T
NOTE8 TO TrIE FINANCIAL STATEfLEKrs
FOR THE YEAR ENDED 31 IIthCH 2022
nlln# polkl••
1.1 8aFls of pr•parntlon of finanGlal statrments
Tha IwbCk?l &taM b8•n pryrwl in accothco the Chaiili68 SORP (FRS 102) .
Acc
TrIE WALKER TRUST NOTES TO THE FINANCIAL STATEmEs FOR THEYEAR ENDED 31 MARCH 2022 ountirtg polic1•& leontlnu 1.4 Expgndllurn ExpenthbJre is recognised onc8 thèro is a legal or constructNe dJb3•1ic+n to lrnnsf& economio benafft to a thlrd paFty, il is prebabte th81 a transfor of economic b8nefft3 will be 18quir1 In selU8ni8nt and Iha amounl ofthe obltgatkjn Can bg mgasured relL4bty. Exp8ndlluTe18 claBsffBd by •CVity. The of each athity are madg up of tho total of dIrt Costs and sharol costs, inclun9 SUPPPrt costs invofvl In undertaking oach SCI. Dlrgd c08ts attllbutable to a sinu18 8cfiwty are allocatsd direLIty to that ?cMty. Shared casts whlch ¢xntribute to morn than one aCts"ty and supwrt CQsts Wh are not altrbutatle to a ng1& activty are appoTtrJn•d betrmon thJso 8CtiwUgs on a conSt the usg of resources. Expénditurè on fdl8lng funts includ&s all exp8Trj1rè by the Trust to ra188 frjr Us charitabtè FT)Se$ and indude$ ccts of all fvndraising aciNibs avonts and knv88tmont ElndItUre on than1? is 1nrrr8d on dirocuy undertakiffj tt)e whiL furthBr I Trusts cti8diw8. as well 85 any SUPF(ffl Costs. Grants payabh are tharged in the ywrwhen the offar is made Copt in thosè e&8es where thé offor conditional, grants rwntwj axpendilure •then Ihe Cndl0 atta¢hing are fulfilkd. Grants off8red sublt to rAndAlms which have not been mpt atthg end rthd as a oJmmibn8rt, but not accruad as wendllu 1.8 Int•reBt receivab Inter98t on fvnds held tsn deprt is irxluded when r8¢efvabte and the amount can bo measurgd by the Truet.. this is noJ up¢Ji ntstification of the Inter98t pakl or pay8bi8 by the hnstitution with whom th6 fvnd$ &re depositad. 1A Inv8ètm•nt• Fix8d a888t investnRnts 8rg 8 fomi of financial instnAnent 8nd are Inty recoynis&l at thr transaction eost and subsequgnty measufed atfvir at Balancé sheet dgto, unless the vdlua annot bè measured relably in whkh case It is mwur•J at cost Irth IMM)nt Investment g8lng and 105886, whether realised or unradlsèd, ar8 combined and wesented as 'Gain(L$s> on investsnents, in the St•t•mentoffinancial xlb¥it. 1.7 Dpbtorn Tradg and oth¥ dgblors are rwnised at the $8ttlwmenl 8m)unt aft8r 8ry trade diKount off6r8LI. Prgpaymgnts aro v8iu¢d at th&8mount wfjpaid ng1 c4 any trade dk%QLts duo. 1.8 Ca8h atnk8nd kn hand Cash ai bank #nd In lland includgs Cash and short4eTm hvJhty qU inveslmenis wilh a short maurrly months 011oss frurt the dat& of acquition of op&n ofthe deposit or similar w)unt. Page 14
THE WALKER TR118T NOTES TO TrE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Aeeountlng pollth• (wnllnu•d) 1.9 Uabllltl•B •nd pro¥t•lon ov8n( It Is F(obB tw a trarffjfvrof 8conomk bgn8fftwlll ba raqr•I In ¥atUBmèrt, the wfi(x UablleS aro rncogniB&I at thè 8mourt thal the Trust andctFs pay the debt or th8 Provi8ion8 moaBurgd at Iha W eslim8ts of the qmounts rBqulred io $8tUe the obligthn. Whera th? offp¢t of th$ time valuo Df mongy Y6 makniAI, th& provision rs bosed on tha present of ti amounts, d18COUrt8d at the FX&ta¥ dluunt rat8 that r811th tha rt¥k• specÉftc to tha Iwty. Th6 unwknthffj afth? dlK¢unt1s ¥1[88d In ts SIEtemrnt OffinanC a Ilnanc• ¢x>st 1.10 wn11 In•lnw(• The Tnt On has firjanthl as80ts and financial lia>iknBs of a klnd that quilwy aB b&slc ffnant in&tru] Bas financial instruments are r8cowi88d at trtsaclN)n lue and stheojenuy Mll[d at 80tt18m8nt 1th the" exceplkn of bar k)an8 7Athlch are 8iswenty 1.11 Fund accountlng G8n8ro1 fundg ar• unr8GtrfC fundo whlch aro 8v•ifable for u8a at th• gf tho Twstw futherAnc8 of tha of tho Tru and Twhlth not baen do&[1¢d for othor R88trwA•d fund5 fwd& wh* r4E tr• b8 4)e&r wtri¢tbn$ wnpoged ty donoY8 or whith h&v• bgon rnlwl by the Trust for p3tUcular purpo8e6. The C of ralsSng almmisterirnJ Èuch fvnds are •3airist the spgdfic The sim and usft of eKh re6trtdI fUd is set out in thg noivs lo thofinaniaal statem hw¢abment aains and oreslkncated to tho Ippmwiate fund. Inv••kn•nt Incom• R•¥trfvthl UnTB•trlcted fund• lund8 2022 Total fund• zo 2021 Othw lnvpBtrm InGom• 9.797 131198 141, 134976 Total 2022 9.799 132224 I978 Tots1202Y 11.316 124.660 P¥Je 15
THE WALKER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Othor InmIng r••ouK•s Total nd• 2022 Tot&1 nds 2021 funds Other Irme StXI Totsl 2022 TotBI 21>21 5C(J 500 Exp•ndllur• on raislng fund• Goots of rthlny voluntary InGThn• Total fund• 2022 Total funds 2022 lund9 2022 2021 Invesknent managomarttf 1625 32,572 197 32,519 Total 2022 2,S25 32.572 36.197 3Z519 Total 2021 2,293 .Yd6 3Z519 Pog8 16
NOTES TO THE FINAt4CIAL STATEMEKTS FOR THE YEAR ETrED 31 faARCH 2022 Or•nt• to Grants lo Imtltsth Indlvidva 2022 Total fund S¢hoth & OtherOryan188tb]n 91.260 27,890 91.210 71.7n 31,1 5.050 Coifwp CouFBe FoTeW Travel Music & Drama 300 9.300 iooo 9200 T.334 Total 2022 119.140 16,650 134790 IIZ381 Tots12021 102,77T 112.361 P46 17
THE WALKER TRiIST NOTES TO THE F1114NCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Anatya15 of gr*nts (conthwd) Tho Tryst has made tha fdbwlng nmtsrial gronts to In8thon$ durfng th8 2022 FlayThll shbUry UnNersity Centre Shrgwsbury onbiidge GorgÈ Museum Trusf VCH- ShrolIra Grand Piano purthase EdUcttti Kxls Outdoors Shrawsry & Othv8stry CnKial Cr Engineethg Dmlopmanl TNst The Polio Commu[ty Clut¢ Shrop8hlre Coundl Camwg quant mblng Out Shrew&Jury Chiltherts B(88t ShrqJ6hire lfirtual Show sss& Cwy Donnelly 10,000 7.500 40 3,760 2,000 1.000 500 1,827 100 71.777 31,000 & th58blity Brafits 27090 119,140 1¢E777 Pago 18
THE WALKER TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IMRCH 2022 Totsl fvnd8 2022 fund& 2022 lund• 2022 2021 Audit and ae£ounl Sundry aw888 Postsgo And 8tatioFWy 3,$300 1250 125 1.140 126 wJvKled by Shryhre Councll Exchango {g81n8} & IDSWS Bank th•rges (4.(IKI) Totsl 2022 1Q776 10009 Z410 Total 2Lr21 2,410 Z410 Ind•p•nd•rt ox•min•V• Trmun•rnt+on 2022 2021 Fees payatle ta thg Tn8 InsJepend8r¢t examlnerforthg iKlep9ndent rfth8 TrusY¥ annu41 ar£Ots 1350 tktrffYJ lh6 no Tnth ony r¢muneralion ort)iher o21.£NlL1. tring the yw endwj 31 2022, no Trustee in¢urRd (2ff21. £NIiJ. Pwjo 19
NOTES TO THE FINANGIAL STATEMEprrs FOR THE YEAR ENDEO 31 IAARCH 2022 Cost orvaluRtlon At 1 April 2021 Addlttons Disp06als 8.363J76 180,9tr2 (s6781) 448,988 At 31 March 222 6M15.685 M•t boDk valuo At31 March 2022 615 At31 Math 2021 6,353,376 10. Dobtr•rn 2ir12 2Q21 Du• wlthln on• year Pf8Fa5Thts and accxu8d Inu)me 6.151 5.161 11. Cr•dttorn: Anwunlry falllng du• wlthln yèar 2022 2021 Othar cr•Jito 4237 3,950 gDZ666 850 104000 Grar awugd 117.343 114.252 Page 20
THE WALKER TRUST NOTES TO THE F114ANCIAL STATEMENTS FOR THE YEAR ENDEI) 31 MARCH 2022 11 SlatornoI fundB Slatem•nt olfund8 •Ctirr•niyHr B•lan¢e at 31 Mareh BalATr at Aprfl 20 Gain In¢om• Exwdllur• IL9••} Unrn•tslct•d fvnd• Ggnerol Fwyjs DB4606 132.224 1168,398} 452276 6I00.718 Royn•ll FUNI 31,89 51un Total offund¥ 6WJ02 142,023 (181,796) 404166 7.013,695 Ro1¢ funds The cha has funds vthkh were eTr to them by Ihe PA#on Reynabj Etknalwjnal Tn1 for the spe(xr purposè of Shrop8hire Gli1¥ In privatè aducatlon. Grants trAallng £9.750 w8r8 pttid thesa lund8 durfng th8 y8ar. The rThlrkng in the rl2d to Inbwlmerf chsw J 41om•ntof fllnd6.p4try Gekn81 31 Ma Unrn•trfeted fund Geal Fuftd8 4013.594 125.160 (144.997) 1,091.849 a0606 RwtrlCt fvnd• 393.237 11,316 f2,293) 81.430 Total olluml• 5.4Q6.831 136.476 {147.290J 1.IT3.285 6.569.302 Page21
NOTES TO TrIE FINANCIAL STAIEMENTS FOR THEYEAR ENDED 31 MARCH 2022 1& ANlyah c¢ n•t a01¥ bBtwun fun Anaysls of not as•ats llotwwn funds v ciirr•nty fund• 2022 fund• 2022 fvnd• Flxed asset investrts Current assets cr1¥ duewthin one 5 487.804 6,327.881 615,616 26,173 289,180 315,353 (1.000) (116.343) (q17y3) 512.977 8,51XJ.718 7.013.895 Anatrfth of Ilot a8••ts belmn fvnds. pfiory funds 2021 lund8 funds 2021 Flxed a88et hwegthents Current a888ts Credira dua wrthin cfie 453,840 &899.538 6.353,3T6 29,856 300.322 330,178 (114.252) {114.2521 Totsl 483,696 6.084606 6.569,302 hlat•d party tran8actk¥n¥ Th8 Trust has not it•r•d into any ralA party trgrwctv)n durfng lh9 Jwr. nor qro thgr9 any outslarKling bnceswing r8lat•J partss and the Trust at31 Man* 2022. Paga 22