Cha1￿Y 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•f*rene8 and admln15tralfve detslls olthe Tr￿( Its TnMts•8 and adv189
TrU5t￿￿' report
Ind•p•ndent 0Xth￿ner8 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￿[M￿n ol&ropshir8 Couwa) Irwned 10 May 2021)
Mr B Wlmknqms (appotnlod l JuM2021)
numbar
215479
Prtn￿p￿ oll
2 Brddden Way
Bay3ton Hlll
ShrwHsbury
Shropshire
SY3 OLN
Chrkto th• Tn•t
Mr E *1*￿iEt
Chartered NKc4Junlants
Belmont House
shr￿￿tsUry 8u8inBBts Park
str￿bUry
Shrop5hir
sr2 6LG
BAnk•M
PLG
I Pride Hlll
Tvwsbury
ShrO￿hlr8
SY1 IDG
Tru•toM Invastm•nts CazeTh)v6 Capltsl
A￿v￿ra
L￿e￿￿oI 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 5tatsff￿nts 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￿$1th8 Caprf￿ of such Tntsl Fund in 8ny of the herety auth￿180d.
Ib) tD 8ppty the Incorng of such iswe5kn1ents to all or8uch of thè folLA¥ing purpo8¢5 os my Re8¥1uory
Trus￿&S from fjme to time think benefid&l. ¥z".
in the gslthlffjhment or towards th8 main10nanc• of llny hcqrkl, InffTmary, conYalgsra)t hom¢ or oth
Irthbon havkng for Its (*￿ttt Ihe reli￿Of 3lcknesB or W￿n011n9 corNBl88cence.
tha PTDViSton of medlc41 or 8urgi¢31 •d or wlances.
-. 8ny Instituti)n for tho Mainten￿Ce and educalon 01￿18n&
. thè provralon of m4n$ of8du¢ali￿ as are ntsl. forthe belny, wovideAJ for by *npehlg1 or
tyxatli)r
Ic l I Wfe88iy (tr￿1 thal in casa. for 1h& purpogos •for￿￿d my rgsiduary Trusiee5 shall unanKnougly
resofve that it is eXPEd￿ntto 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 p￿IC 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￿ equ1￿1 or to asrJ*wiih
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 v4th￿h mgot the Trusys ￿￿(lI￿bi? Obj￿ •nd
throLyh contfds ￿ h08Pttals. hospts& r£wnals, ¥*cds, col*s and unIver￿.
Grantmklng ￿jGI
The of th• Trust IS to make grants In ac0)rdW￿ with th8 crtterla $8t out by the Benefactor. Th080
c<wer in brwl tems fhe asSista￿e of haath and thsability, ￿han5 and educalion and tr￿nInG. Tha Trustees
considar apFIKalh)n8 under any of theEe h￿￿5 and int￿￿et them In a vhdg and g8ngTal s￿8&. Th8 TnBta8s
ill nomolly a8stst in (*8es outsth Shr(4)shlre unless the County ￿pUld Jpecfficaty I￿efft ther*y. In the
rAse of applI￿lon8 for assistsnce from indIv￿u@L$ 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 Aya￿ab￿ fTrym ts Cknk.
Page 2

THE WALKER TRUST
TRUSTEES. REPORT {COlmNUEDI
FOR THE YEAR ENDED 31 NIARCH 2022
Obj￿￿VaS 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 ￿18￿1&bI6 puy>8e8 ag 8et (xrt In the Charfues and thorè are KIÈnt￿L* beneffts from the
grBnts mad& Th& t￿)0￿￿ ar8 to tha Publ￿ i.& tha p8oph of Shrcp8hire ar#1 grnnls 8r8 m￿2 in
al￿[dance Twth the Tru8f$ A¥n8 end objectlv8&
tr) hoBPtals. 1K>¥￿*S and educats￿81 lnsfrtu￿ and ¢Mynls8llons benefft the whalp population
ofthe County or Incre990 tha oP￿rtunNI06 avaliabla to them. In con8tderlng 1ndWU￿ epplk*bon6. the maans of
applirants and whero app￿prEa￿a tholrfarnilieB a￿ looked at and the Trustsos taryet th￿r holp to a￿￿8nts
lry*V irmm•* Thks gmjp indudas young lèavng car4 astrarogd fmm thair f•nifj￿, sr
and chlldren from famille8 witti low Inc￿￿0￿. and freqUent￿thOse ￿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 b￿￿U58 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 investm￿ts. Tho rwlt wag le￿ mon6y belnu 8V811gtl& for grants to Or9￿￿*bUn5 and
Indfvidud& T￿Stea8 had to adJu8tth&trgr*rtgh*lng 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 Tr￿lte0S
continue to concentrata on thg furthw gdueation t8(**r 8nd th8 ¥reas of rnusq drana and the arts where
al￿1￿ L))Ets arg cw&d8rabk Th• have T￿IntaIned th8fr provk)u3 deLiTiDn that unbss th*9 arp
?￿pIloTh￿l iircurn8tanixs suth ap di8abifty, Mll a88fgt Sh￿entS in hrgh8r •Juc8tlon ag asswtancx is
èvailabio s￿￿OnI rinan¢e, wrfh tho exc9r￿On of medical and vpterin•ry ￿u￿•S the88 Bre
takwi ￿ ¥ec(Jnd deg￿e8-
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, P0￿c& Communtty Club -
£1.000, Engineéring Devel¢¥ment Trust- £1,500. Purchase of Grand PiÉno- È5.LXIO, VCH Shropstiire- £S.000,
sh￿¥bUry & OBWBW cn￿1￿1 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? g￿ts for mus< drama CK art 5tsJdtes. m￿Y of whlth sutAIBnliaL
IAfthut thé Tnw19 gWPOrt r￿￿1 0fth￿ I1￿[¥1(￿[al8 w0￿d bean utth to undwl#kethÈIrcou￿e￿
In the of hoalth d￿thI￿, thg Tn*eB made grants of £1.000 or morE to DfrJwen - £4,OlJO.
Gukje tk*g9 - £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 R￿aId El￿￿10n01 Tru& for the spe(¥fi¢
pu￿￿￿e 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 th￿r 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 Tru￿3 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 LwKlgrt*e undue risk8 wltt regard ID Inva8trnents.
Foknlng Ihe atJpolntmenl of C8zenove Captta as twr Inve5b￿l Manag8rs. Tw$t￿5 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 Ove￿11 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 SI￿uld 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 For￿1[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 ¢on￿rn
Afler makn'ng 8PWOPrtate enqulrfgs. thg Tru3tee3 have u raasonable exP￿tallJn 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 Prep￿ing Ihg flnonoal sl*monts.
Pagè 4

TRiISTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
The rn8uIE8 of theyeafs OF*rntron Bet out in the att￿h￿d Strt￿9nts. 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(li￿té *• do* moniliY•
during the yBar. Tha T￿￿tee¥ 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￿ 8h￿Id ba rndntakn￿ at a r8vB8d figur• of
£50,rJoo. In *tttn9 thts figur< Tru8leBs notsj ttMlth•ir cmts h•J r£du￿d in recent ￿arts and th
r•vwt figur•would covarfour yws d Nnnlng cots rf no new gtarrts wer• mad
c. klatsrfal pollcy
The Charti￿S p￿¢￿)￿[ lundlng $our¢g5 arg 118 Invastr￿ts dotsHed 8bw. Tha Inc¢irng from Ilwo inva¥lments
support Ihe key fundlng obJecb¥ps of the Chanty. Th8 Tru8tee6 hBve not any K*iat. ￿vIrOnmental of
ethlc81 con8pJerattons in thelr inveatrmnl pJThcy. Th6y dtd ihb y•ars ago tkrt deck1￿1 ta fJ)nttnue trj
m*ntaln thg exl8iTng pc4tiJ. Thls k% beca￿ M rsstrthrn YM& 8peth by1h• benofth whon Charlty
wats e8t4Nithed and thatT*htlEt £wI￿ng such a potsY￿￿Uld 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 u1￿￿11 Okl H￿[. M•wport Shropghirn.
WI￿ ¢*bf￿h¢d a Tr￿t devoting a FQrt of his Eskl& to tharitablè purpow a5tst418had the Chaiity of
Ckn*ntWal(erkn(yttn 88 Yhe W8]kw Tn￿1..
Th• Char*y waJ constilArt•J with Ihige repr￿Entative TNstees together wllh ￿ CPA"mMn and vk￿ChaimWn
for the of ShrOF￿hlre c(￿clI. Sub88quanty. ￿ w88 agwd to T81ford and Wrekin
Bot￿ Coundl a180 lo nomlrnte a Truste& TM Mne8 ￿ the r￿onS currandy 0￿Upy￿9 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 Thra￿Cy for a repwentath Tru8teo (mirs, ts Tru6te88 8a8k to r*¢a with S￿n￿ne ¥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 cli￿Ve6 h18W and o￿tion 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 app1￿￿On8.
The Chairrnan and Clerk havo delegated aulhorty to take urg8ntdeci8bns tii meeling6. Th& Chainan
18 d*ted to tako de(45ion$ in 811 cases Whi￿ the c￿rk'S d8￿gated authority is Iwnit8d to gw*ls up to £500.
The Charity 18 not paEt of a ￿der notwork and has no sub91dl￿a* 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 b￿f history of tht TrusL an accfjunl of tha recent wcthngs and
coples of theAnnual Report and pTrvlou8 agermlas. They go through tsalnlng S￿￿0￿3 with the GI8Tk rf tequirnd,
on the r&sponsibffib'es of Trust￿, tha oy0rr￿1ng 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 mon￿on￿g pr￿e5￿ The r￿iK was last reviewed in
January 2021 In aBBas81Tr4 rf8k6 TrEthe8 I￿k intri aLrount Ihat tley do not any PfLygty or any d￿￿t
empw Tru8iD88 akn rdy on th￿r cf4Jltal eThknwm8nt and do not fvndr￿se on an ongthg b￿]&
Occ4Stonaty, fvnds are contrft)ubJ to itte T￿￿ ty ollm organi8ations. Th? Trusle9s th*ly m8lch thw grant
to th8fr 1￿c￿*. Incixn8 and oxwdllurfj are cw monltored duriro the yeBr with thg
tran¥f?r￿S 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(¥￿ib￿1k>￿ bolrvJ m•do ovar ts nex
or threa ywirs. H￿tr¥er thasg onty lomi a 6mall prcwtKn rf prqethd annud irtoma and not
ct*nwth8e the TnwloeB ifth8rnw#8 a doWn￿rn In in any one year. Tho Trnstees have fomi81 bankir
amingements arKI have enter￿1 inb) en uAd¢rt*king and agr¢oment wlth tsr banke￿ a8 Banks are requ1￿j to
do under hgig1gbDn. Th8 Trust has subEtsrtW In•J fund8 8nd thlB carrf88 Some TD minkn￿ ttr
fl¥k8. TrbEtee8 LWrnt• a Investr￿t ptslw and u50 thé swvtces of Prof￿Onal Inve8trnent
managers. Tru81•ts in¥￿t li fvnds TpJhb* carry IN risk and low ￿laI￿lty. 889 on I￿￿￿t
pollcy and perforfrrancg.
Tho Tn*aa& *{￿[n￿ ar8 Ind8peTh18nUy and r￿ed Nluang rth offrwl arvj comp
th018 rwks effectN•ly. F￿￿ks ￿ rnvi8wad on an annual basi8.
The TN8ts0s pkn to conlTnuè wfth th•tr current avns and kay oWbv8s on dlstr*Artlng gmnls In &c0rdanc•i￿th
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 fI￿n otyaniBkn gTOUPO
and Individuat& In 2072r23 th￿ ar• look￿4 to o)nlinua provkltr]9 as518tsnGg to the new Unl￿Sty hi sh￿￿SburY
to encouragè ShropBhJrg dud&nts to 8ppiy. Thayarn al80 ho￿n9 to COnth￿ 8141F￿h? VCH Shrop8hlT& And
Iron￿ GopJ• MuseLKn Tn
Page 7

THE wALI￿lTRu
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 G￿ner￿￿ 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 Acc￿￿tIn￿ Sta￿rds (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 COn￿n￿O In kninos&
The TNsleeg rde Mpoiisbi b for keèping ad8qLwl& acuunltng record& arn suffKient ta show fjDd ry18in
Tru8f8 ts8&￿0￿8 and di8Ct09e with rnwxsnabte accuracy al any tffno the financ￿1 FQBitv)n ofthe Trust and
enotrle them b angJrn that tnè finandal ststements compty with Ihe Chwities kt 2011, lh8 Charty {AcrAxmls
Rop￿1 RegulatK•n8 2008 and the proVi￿n8 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 offr￿d and other
irrwJukritis&
ADW￿ed 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 Tn￿1 for the ygw ended 31 P41arch
2022.
Rwn5￿rlllla9 and 8A¥l• of R•port
s the TTUStees of the Tru8t iou ar8 re8pon8QJlg for Ihe OF the ￿lUnts irt th•
requIr￿nts of the Clwrfde8Act2011 2011 Art).
I ret#xÈ in rayct of my &Y￿￿a￿on 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 D￿￿tionS gfvan by tha Charlty C￿nrn￿51on undar
S￿￿on 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
Repc*Ung by CtrAiti8&" Stalwnant ol RarummèndBd PrnctKti appltC4ble to th&rilTa¥ pf¢pBrtrvJ orzow]ts In
())r(la￿a 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 Pract*è effth for reP￿Ing wiods b4lnnlng ￿0rdIar l Jan￿ry 2016.
I have conwetsd ny exen￿nation. I confwm tst no matters *yJmo to my a11gntlon In (¥)nnedioft with thg
awrfng reuxda w•rn notkeF*ln 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 aCc￿￿ts w a Irue and fair, whith is not a m*tsr conBKlorad as part Df an independ8nt
I ha￿ no rJxffii$ arAI ox7J• ac¥osB no olher malkn Mi ￿n￿￿on wlh the 0x￿1n4t￿ to whk*

THEWALKER TRUST
INDEPENDENT EXA￿￿NE￿5 REpoi¥f {CONTINUED
FOR THE YEAR ENDED 31 IAARCH 2022
Thls report 18 mado 9)l*y 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 m*ht staiB to the TTUSts
Tru*099 ttme matters l em requifgd to stgte to Ihem in an Ind￿r￿eThi ￿mIne¢S report and for no other
purpose. To the fu1198t extent pe￿nItt0￿ by law, I do not or8sgum8 M8p￿*bi1tylo anyon• olhtt than th?
Tn￿ and the Trusl's Tr[￿&5 a8 S body, fur mywort( or for this rewL
Slgn8d:
S J Tw*A8
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•ndi￿r• 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 Stat￿n0ntOf 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
Unrp4rfc*edlunth
12
12
1971
8.50Q718
463.696
6.085.606
TDtsI fun
7￿13.8$6
6,569.302
Th8 financial *t8monts wer• aPPToved and aUthOri￿fOr by the Tn* and s19r￿d 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<yJntwN ¥md ￿wjrbng by Charm* slaaM￿ of Recomm8nd•d Practse akWicabJ8 to chartheB
prgpAring IhBir a¢¢>)unts in ar£o[da￿e wtlh Ihe Rwbrtg Sland&rd 8ppltcaÈ40 in tho UK
grMI Rapubllc of Iralgnd {FRS 102) {offth 1 January 2019>. th8 FinarKlai Stand•Td
applKa48 In the UK and Rq)ublic cl IroL•nd (FRS 102) 8T￿ thg ChATitses P*t 2011.
tha Chwilie8 (Accounls and Report5) RegulalTans 21Y)8 onty to th6 extont requwed to prO￿e a Ift
and Thi8 dopathrn has invc+Rd folkAv5ng the char￿9￿ SORP {FRS 102) FxtsJIBW tn
Prn¢k• eff8rth frnm 1 ￿)rI 2005 whlt* has slnco been Wlthdrw￿.
Woker Trud meets thB dthrtbn ofa wblic L￿Or￿ entlty undw FRS 102. A888ts and Iqbllili
NIMally recogn188d at hEstoriral (yxt or I￿#a￿an vatU6 unl88s oth8Th*1￿ *at8d in the reknDI
aLyJ)untIr￿
12 Golng cone•rn
reStYJr￿ to conltnug in op8raknnal exk*knnc• for the forneaoble The Charty th•r•foM
i¥Jntknu85 to adoptth8 con¢xm t•is In PEwparing [tyfr￿a&l staiements.
The Tn*t995 h44* alw 9SSa5sgd Ihe p(1￿1 imt*t on th• fubn O￿a￿D￿5 01 tho Charity with
regard ID Ihe Covth19 ou¥)re* Th8 Chartty IB LyJnsid8rnd to ￿ w81 posi£kx￿1 gknn the wrrwrt
8nNryTonmentMith no Inyid on tha going rJ)ncern bgsls of thg ffnandai Statement&
la Inoorn•
All Inc¥Jme18'rec(¥Jnls•J oncg lh& Tnsst hOB antil￿t to the inryjm, It ts pYol)•bl• irKtsm
111 be ￿]ve[l and tha amurrt of rp¢*iv•blè cgn bo nMsurad ye￿ably.
Tho ￿￿thn d Inr))Th from 1ogaoaES is depondent on eslablishwvJ snbllwnen( lh• prDbthlity of
rfjcoyt a7d the thlity to e5Umato wrfh suffi(itsnt a¢￿￿¢Y the amount E¥idonce of
tit18ment lo a *acy oxi8ts Ihg Tru9¢ ha$ suffklerrt evthncè that 8 ba￿ lèft to th•m
lthroLwJh knowlèdgè of Ihg axistents of a vald ￿ and th& d•ath of the b￿￿8{1￿> the ex
k satrsfied that the prvpqrty in qwion WWI not be rpqulred to 8aW thtms in the est*. Re￿Ipt of
legacy must b8 r8(xJgniwl when 6t ts PTOt4ble that li wll be rK8ivat the fair valu6 of th
qmount whjth will goneral￿ b8 the aygethd (Ash tthourt to b8 dotrIx￿ (o th• Tru¥L
n be TeliatAy maasurad.
Ollw IncomB18 I￿)gn[Bod In th8 pwJ¢id In whlch k 18 mjfvabl
13

TrIE WALKER TRUST
NOTES TO THE FINANCIAL STATEmE￿s
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 18quir￿1 In selU8ni8nt and
Iha amounl ofthe obltgatkjn Can bg mgasured relL4bty. Exp8ndlluTe18 claBsffBd by •C￿Vity. The
of each athity are madg up of tho total of dIr￿t Costs and sharol costs, inclu￿n9 SUPPPrt costs
invofvl In undertaking oach SCI￿. Dlrgd c08ts attllbutable to a sinu18 8cfiwty are allocatsd direLIty
to that ?c*Mty. 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 con￿S￿t
the usg of resources.
Expénditurè on fdl8lng funts includ&s all exp8Trj1￿rè by the Trust to ra188 frjr Us
charitabtè F￿T￿)Se$ and indude$ cc*ts of all fvndraising aciNib*s avonts and knv88tmont
El￿ndItUre on than1￿? is 1nr￿rr8d 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 C￿nd￿l0￿ atta¢hing are
fulfilkd. Grants off8red subl￿t 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 dep￿rt is irxluded when r8¢efvabte and the amount can bo measurgd
by the Truet.. this is no￿￿J￿ 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 In￿￿ty recoynis&l at th￿r
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 IM￿M)￿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%QL￿ts duo.
1.8 Ca8h at￿nk8nd 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 acqui￿tion 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 raq￿r•I In ¥atUBmèrt, the wfi(x
Uabl￿leS aro rncogniB&I at thè 8mourt thal the Trust andctF*s 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 wn￿￿11 In•lnw(•
The Tn￿t 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 tr*tsaclN)n ￿lue and stheojenuy
M￿ll[￿d at 80tt18m8nt *1th the" exceplkn of bar￿ k)an8 7Athlch are 8i*swenty
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 re6trtd￿I
fU￿d 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
I￿978
Tots1202Y
11.316
124.660
P¥Je 15

THE WALKER TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Othor In￿mIng r••ouK•s
Total
nd•
2022
Tot&1
nds
2021
funds
Other Ir￿me
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 ETr￿ED 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 In8th￿on$ durfng th8
2022
FlayThll sh￿￿bUry
UnNersity Centre Shrgwsbury
onbiidge GorgÈ Museum Trusf
VCH- Shro￿lIra
Grand Piano purthase
EdUcttti￿ Kxls Outdoors
Shraws￿ry & Othv8stry CnKial Cr
Engineethg Dmlopmanl TNst
The Polio Commu[￿ty Clut¢
Shrop8hlre Coundl Camwg ￿qu￿ant
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 Tn￿8 InsJepend8r¢t examlnerforthg iKlep9ndent
rfth8 TrusY¥ annu41 ar£O￿ts
1350
tktrffYJ lh6 no Tnth ony r¢muneralion ort)iher ￿o21.£NlL1.
t￿ring 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
(s67￿81)
448,988
At 31 March 2￿22
6M15.685
M•t boDk valuo
At31 March 2022
6￿15
At31 Math 2021
6,353,376
10. Dobtr•rn
2ir12
2Q21
Du• wlthln on• year
Pf8Fa5Th￿ts 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
8￿50
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 Slatorn￿oI fundB
Slatem•nt olfund8 •Ctirr•niyHr
B•lan¢e at
31 Mareh
BalATr￿ at
Aprfl 20
Gain
In¢om• Exwdllur• IL￿9••}
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
Ro￿1¢￿ funds
The cha￿ has funds vthkh were ￿eTr to them by Ihe PA#on Reynabj Etknalwjnal Tn￿1 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 r*l2d to Inbwlmerf chsw *J
41om•ntof fllnd6.p4try
Gekn81 31 Ma
Unrn•trfeted fund
Ge￿al Fuftd8
4013.594
125.160
(144.997) 1,091.849 a0￿606
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 a￿01¥ bBtwun fun
Anaysls of not as•ats llotwwn funds v ciirr•nty
fund•
2022
fund•
2022
fvnd•
Flxed asset investr￿ts
Current assets
cr￿1¥ duewthin one 5
487.804
6,327.881
6￿15,616
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
Credi￿ra 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 b*nceswing r8lat•J partss and the Trust at31 Man* 2022.
Paga 22