REGISTERED CHARITY NUMI BER: 218371
REPORT OFTHE TRUSTEES AND
AUDITED FINANCIAL STATEMEPttS FOR THE YEAR ENDED 5 APRIL 2024
FOR
W F SOUTHALL TRUST

W F soirrHALL TRusr
coNrENTS OF THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 5 APRIL 2024
Page
Intr￿1￿￿10￿ from the Chair
Report of th¢ Trusttts
Report of the JDdewdent Auditors
Statement of Fingn¢i*l A¢tivities
Balance Sheet
10
Notes to the Financial Ststements
11 to 23

W F SOUTHALL TRusr
INTRODucfioN FROM THE CHAIR
FOR THE YEAR ENDED S APRIL 2024
CfrL4IR'S INTRODUCTION
Welcome to the Southall Trust's annual report atjd accounts for the financial year ¢nding 5th April 2024.
This year saw some imp)rtant ¢hanBes at the Trust. Chief among these was the difficult de¢i5iOll to Stop accepting
applications for overseas projects. The intention of this move w&8 to create much-needed space io discuss the futUTe of the
Trust. We are 5e¢king to reach a consensus on the dityjclllt prwess of re¢on¢iling the good that has been intended by our
family trust, with concerns aL￿ul how the ￿￿tr and privilege of philanihropylgrant giving is etnbcdded in
and may
corstinue to uphold- inequities stemming from Colonialism xnd Irnp¢rialisrn.
We have not yet set atime limit for the ¢on¢lusion tsf these discussions. but three outcomes arose fi￿M them duTtrtg the yeaT'.
l. We have flattened our hierarehy. We devolved power within our leadership by trialling an unusual three-way chairing
model. A year on and we have been satisfied with this move. Ir has spread the weight of Te5ponsibility among the tn]stee
group, it has in¢reas¢d a¢countabiliiy among the trnstees. and it has also improved ihe engagemertt of trustees wth the work
of the Trust.
2. We reminded owselves of the Trust's history of giving to overse&s work. We spent lime r¢visiting our 1937 constitution
and 86 yeaTS of truste¢ meeting minutes.
3. Some trustees have been reading and listening to various knoks articles and talks about colonialism, 'white 5aviourism'
d Tacial inequality. In the year ahead we have planned to hear directly from a select wup of well-regarded charity leaders
tsf over5ea5 charit1¢5 to learn more about their experiences of these subjeth5.
The above is intended to make the Trust a better funder for the fv¢ur¢ and able to play a stronger role in making the world
more restorative, just and equal place to live.
In Autumn of 2023, we were saddened by the t￿Mia￿tnt closure of W(K)dbrooke Quaker Centre's building in Birmingham.
The relationship between woodbrL￿)ke and the Southall Trust has been va]ued for generations. and our trustee meetings were
held there. However, w¢ have used this opportunity to explore other venues in England and Wales. which has a]so given u5
g￿at opportunity to V15lt some of the projects that the Trust has funded.
We were delighted to award grants 10 73 different chaTitable organisations this year and we thank our grani r¢¢ipients for the
¢ime they r￿k to follow and respect our application process so well. We wish th¢tD all the very best with their work in the
year ahead.
Finally, we would like to express our ihanks to Lewlll Gre&ve& for their time ill supporting the Tru$1 this year, to RathiK)ne
Greenbank for their [na￿￿ement of the Trust's assets, and io our TTUSt s￿retary. Wil Berdinner, for his continued
management and ov¢ryight of the Trust's operations. Last, but not least, thank you to ollr fellow trUS￿e$ foi their continued
voluntary service to the Trust.
Mark Holtom, Atjdrew Sollthall & Hannah Engelkamp
Cfrchairs of the Southa]l Trnst
Page I

W F SO[￿NALL TRiisr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED S APRIL 2024
The thistte5 present their repon with the financia] statements of the charity for the year ended 5 Apnl 2024. The trustee5
have adopted the provisiOtkS of A¢¢ouniing and ReFOrting by Charitie5'. Stsiemertt of Recommended Practice appli¢able to
charities preparit]g their a¢counts in accordance with th¢ FIDanLial RerM)rting Standard applicable in the UK and Republic of
I￿7?￿d (FRS 1021 (effective l January 2019).
OBJEcfivES AND ACTlVI'fiES
Objects adI￿tIeS for public b¢n¢fit
'rhe objects of the trust are to apply its fund5 for such ¢x¢lusively charitable pUT￿>stS as rhe trustees may think fit in
accordance with the trust deed. The fft￿tees confinn that they have r¢ferred io the guidance coniaintd in the Charity
Commission's gencral guidan¢e on public benefit when reviewing the tnjsts ain]s and objectives and in planning future
a¢rivities and in setting grant Tnaking policy for the year.
Grantmaking
The truste£5 continue to make grants suptK>rting rnany ¢har]ties within specifjed grant rnaking ¢Tlterria. The tnjstees
¢ndeavollr lo support smaller charities where their help is more Tneallingful and especially when a trustee has detailed
knowledge of the d]aTity concerned. Detai15 of what we do and do not support Can be found on our website
www.souihalltrust.or8.
ACHIEVEMETrtt AND PERFORLbL4NCE
Athievements and ￿rforManCe
Durin¥ the year ¢0 5 April 2024, the charity Teceived invesknent income totalling £319,078 12023 £328,823) as detailed In
note 2 to the accounts. After allowing for the costs of administering the charity the trustees mad¢ charitable donations in
a¢cordan¢¢ with the temjs of the constitution ioialling £361,213 (2023- £315.5011.
Fundraising artiYiti¢s
The trust does not cany out any 5igmifi¢ant futtdraising actiwtie5.
Investment performance
The trust's investment portfolio is managed by Raihbone Investment Managetnent Lid. Funds are invested to PTovid¢ a
balanced return of growth 9￿d income for the charity, but with the variotjs dityiculties in glob￿ F￿ancial tnarkets in recent
yeats ihe inv¢siment portfolio has suffeTed significant volatility in tnark¢t value. Due lo the active managerner)t of the
rtfolio, the value of investtnents decreased in the year ended 5 Apnl 2024. The portfolio L5 held as an expendable
endowment fwid in accordance with the tTUSt deed. The cash held as part of the inv¢stmertl porrfolio, including discTetionary
time deFOSitS, lnCre￿¢d 10 £249,337 due to the purchase and diswsal of capital investments where deemed 8ppn)priate by
the investsneni managers.
STATEME￿ ON CLIMATE CHANGE
The Southall Trust rernains committed to tackling the global climate emergency. In the fin8llcta] year ending 5th April 2024..
'Envimnmenial Action & Su5tainabilsty' remained one of the Trust's primary grdnt categories and 13 grants tolalling
£52,692 were awarded within this category.
The Trust's entire tK)rfolio of ￿Sets was invested with an inve51m¢nt manag¢tn¢nt company focussed u￿￿ grten and
hicd investing.
The Tn￿t continued to operate i pap¢Aess office wherever possible. All ¢orrtspondence with applicant5 w&q electronic
and, on th¢ few occasions where printing was requiTed of the Trust, recycled paper and a re-fillabl¢ ink tank printer system
was used.
The Tnjst limited its cariK>ll footprini by meeting just Mce during the year in-person. All other mewings were held
remotely- via the iniernet and t¢l¢phone. To add. the Tnjst Secretary was home-based Ihrollghout the year.
- The home office of the Trust Secrethry operated using renewable energy entirely - mostly 501ar.
FINANCIAL REVIEW
Financial position
As a reslllt of the activities and ￿Vesttn¢OI performance mentioned aknve. the total funds decreased to £l1.926,436 12023
£11,952.2971 as ai 5 April 2024.
Page 2

W F SOUTHALL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
INANCIAL REVIEW
Reserves policy
The Injstees, policy is to maintain the capital value of the endowment fund, and the level of Income it PToduct5: at least in
line with CPIH inflation. In the yezr endtng 5 AprTI 2024 the capital value of the endowment fwid decwed by 0.40/0 and the
level of income It produced incTeased by 2.8010, which overall compared adversely wjth C.PIH Inflation of 6.3 /0 during the
Cash reseryes of approximately four months of the previous year's expenditure are held to Provide a 'cushion' against
unfo￿Seen expenditure and against sharp fluctllations in income and to Cover any redundancy andlor Ivind up, costs, should
this ￿ necessary. At 5 April 2024 the Trust held £129,853 in instanily accessible ￿$h. including cash held with investments
brokers. After administration expenditure, ir is the tTUStee5' policy to distribute by way of granis the whole of the tTuse5
su￿]uS incotne.
FLrruRE PLANS
The Iruslees aTe corttinuing to look into the various areas of interest as a grantmaking bdy. Wilh ¢onsid¢ratiotL to the
primary objectives of the tNst, a broadening of the spertruTn of donation5 is FKin8 considered.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Structurery governance & manggement
The W F Southall Trust wa5 e5tabli5hed as a charity by a declaration of tNsi daied 14 November 1937. It w&s registered
with the Charity Commission on I l December 1963.
Recruitment *ppoiMtment of new trustee5
The power of appointtnent of new trustees rests with the e￿$tIng ly)ard of trustees.
OrganisAtional structure
All dec1510n5 Telating to the organisation and operation of the charity are made by the tTU5t¢es, tsking profession￿ advice
from advisets and thiTd part1¢5 where it L5 dcemed appropriate. This includes the appointment of Rathbone Investment
Management Ltd to manage the charity's investment portfolio fft a¢¢oTdance with p¢rfortn3nce and ethical criteria set by the
Induetion training of new trustees
On 8VPOilltment. new ttustees sign a model trus*e declardtion statement committing them to ￿ving their time and expertise.
The new trustee goes through an induction pr￿e$s, which includes meetings with the Chair and the tn]stees. Training is 81s0
provided to the trnslee as reqllir¢d.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity numb¢r
218371
Principal address
S¢h(x)l House
Mjrtholm Bank
Hebden Bridge
HX70DL
Page 3

W F SOLrfHALL TRusr
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRtL 2024
Trustees
Mark Holto
Joallna Engelkamp
chard Maw
Hannah Ettgelkamp
Philip Coventry
Andrew Southall
Lucy Greaves (resigned 18.11.231
Holly Wa]lis
Auditor5
Andrews and P￿rner Ltd
Statutory AudilOIS
32 The Squ3Je
Gillingham
tknrs
SP84AR
Co-chairs- Mark Ho]tom, Andrew Southall and Ha￿nAh Engetkamp
Secretsry- W21 Berdinner
Other printipal advisers
Stockbroker5 & investment #dvisers
RathEone Greenbank Inv¢5tsn¢nts, 10 Queen Square, Bristol. BSI 4NT
Bankers
CAF Bank Ltd. 25 Kings Hill Avenue, Kings Hill. W£st Mailitlg, KenL ME19 4Nr
Solieitors
Messrs Rutter5. Solicitors. 2 BimpxL Shafiesbury, Dorset, SP7 8AY
STATEMEryT OF TRUSTEES, RESPOFISIBILITIES
The trust¢e5 are re5pon5ibl¢ fgl preparing the Annual Report and the flnancial stat¢Jn¢nts in a¢cordanee with applicable law
and United Kingdom Accounting Standard5 (United Kingth)m Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, th¢ Charities Act 2011, Charity (Accounts and Reports} Regulations
2008 and the PTOViSiOllS of the Mist deed requires the trustecs to prepare financia] sta*men¢s for each financial year which
give a true and fair view of the stste of affairs of the charity and of the incoming resouT¢es and application of resources.
in¢luding the income 8nd expenditure, of the charity foT thai peri(Kl. In preparing those financial statements. the truste¢5 ajt
required to
select SUltabl¢ accounting ￿lICleS and thet) apply them consistently,.
observe the methods and prittciples in the c.harity SORP.,
make judgements ¢5tiTnat¢5 that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate to presutne that the charity will
continue in busines5.
The trustees are resw>n5ible for keeping proper a¢couniing records which disclose with reasonable a￿Ul8¢Y at any time the
rinan¢ial position of the charity and to enable thetn to ensuie thai the financial statements comply with th¢ Charitie5 A¢t
2011, the Charity (Accounts and Rewrtsl Regulations 2008 and the provisions of th¢ trust deed. They are also responsible
for safeguarding Ihe assets of the charity and hence for taking reasonable steps foT the prevention and detection of fraud and
other irregularities.
Page 4

W FsoirrHALL TRusr
REPORT OF THE TRIJSTEES
FOR THE YEAR EIYDED 5 APRIL 2024
Approved by order of the board of tNs¢ees on 16 November 2024 and sig)ed on its beh￿f by..
Mark Ho]tom- Trustee
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
W FSOUTHALL TRUST
Opinion
We have audited the financial statements of W F South￿1 Trust {th¢ 'charity'l for the year ended 5 April 2Q24 which
comprise the Statetnent of Financial Activities, the Balallce Sheet and notes to the fllJan¢ial siaiements, ittcluding a summary
of significant a¢¢ounting policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingthim AC￿u￿ting Standards (Unl￿d King(bm G¢ll￿￿]y Accepted Accoutlting Practicel.
In our opinion the fmancial 5tat¢rn¢nts.'
give a true and fair view of the stale of the charity's affair5 ￿ at 5 April 2024 and of its incoming resources and
application of resources, for the year then ended",
have be￿ propcriy prepared in accordance with United Kingdom Generally Accepted Accouniing Practice.. and
have been prepared in accordance with the Tequirements of the Charities Act 2011.
Bgsis for opinion
We conducted our audit in *¢CQTdance with Intemationai Standards oll Auditing (UK) IISAS IUKII artd applitable law. Our
resw>nsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial
statements section of our tewrt. We are independent of the charity in accordance with th¢ ethica] requirements that are
relevant to our audit of the financial statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our
other ethical r¢sw)n5ibiliti¢5 In accordance with these r4uir¢nJents. We ￿li¢ve that the audit eviden¢e we have obtsined is
sufficient and appropriate to provid¢ a basis for OUT opinion.
Con¢lu$ions relating to going concern
In auditing the financial 5taternents, we have ¢on¢luded that the trl￿teeS, ￿se of the going ¢on¢em basis of accounting in the
preparation of the fu￿￿ClaI statements is app￿priate.
Bas¢d on the work we have perfonned. we have not identified any Materi￿ uncertainties relating to events or condition5 that.
individually or collectively, may cast signifi&8nt doubt on the Charity's ability to conlirtue a goin8 concem for a period of
ai least twelve months from when the financial ststements are authorised for issue.
Our ￿spOnsibIlitieS and the resTK>n5ibiSities of the trustees with respect to going concern are described lli the relevaot
sections of this report.
Other iNform*tio
The tnjstees are respollsible for the other snfomiation. The other information comprise5 the information included in th¢
Annua] Rcport, otheT than the financial statements and our Report of the Indep¢nd¢nt Auditors thereon.
Our opinion on the financial statements does not cover the other infoTtnation and. ex¢ept to the extent otherwise explicitly
slated in our rew>rt, we do not expr¢55 any foTm of assurance conclusion thereon.
In cOT￿e¢tiOn wrth our audit of the financial statements. our respoll5ibility is to read the other llifomaiion and. in doin8 SO.
>n5ider whether the other information is matsridly inconsistcnt with the financial ststemenis or our knO￿ledge obtained in
the audit or othcrwise appeaT5 to be mat¢rially misstated. If we identify such tnateriai in¢onsisten¢ies or apparent material
misstatements. we are required to detemiine whether this gives rise to a material misstatement in the financial 51atEmertts
themselves. If, based on the work we have rerfomed, we conclude that there is a Tnateri￿ misstatement of this other
infomialion, we are required to report that fact. W¢ have ￿th]rtg lo rewrt in this regard.
Matters on Ththich w¢ required to report by exception
We have nothing to re￿rt in re5pe¢t of the following matters MtheTe the Charitie5 (Accounts and Repons) Regulations 2M8
r¢quiTe5 US to rep)rt to you if. in our opinion..
the inforniation given in the Report of the TNstees is inc¢)nsistent in any materiaj respect with the fing￿¢1a[ statements; or
sufficieni accollnting records havc not been kepL 01
the F￿ancIal statement5 ￿¢ no¢ in agr¢ement wilh the accounting records and retums. or
we have not received all the inforniation and explanations we requitr for our audit.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
W F SOUTHALL TRusr
Responsibilities of tnistee5
As explained mort (lllly in the Statement of Tnjstees, Responsibilitie5, the trust¢e5 are re5pon5ible for the preparation of the
financial statements which give a twe and fair view. and for such internal wnlrol ￿ the trusl¢e5 det¢rtnin¢ ts necessary to
enable the p￿P8[all0￿ of financial Statements that are free from material Tnisstatement, whether due to frdud or error.
In prq)aring the financial stateTnents, the trustees aTe res￿￿51b[c for assessing the charity's ability to continue as a going
concern, disclosing, as applicable, mallers related 10 going Concem And using the going concern basis of accounting unless
the trustees either intend to liquidat¢ the charity orto cease operations. or have no realistic altemative but to do so.
Our re5poDsibilities for the audit of the fiDaneial stgtetnents
We have i*en appointed as auditors under Section 144 of the Charities Act 2011 and report in accgrdance with the Act and
relevant regulations made or having effect thereunder.
Our objectives are to obtairt reasonable assurance about whether the financial 5tateTnents ￿ a whole are free from material
misstatement. whether due to fraud or error, and to issue a Report of the IndepEnd¢nt Auditor5 that IDGludes our opinion.
Reasonable assurnn¢e is a high level of assurance, but is not a guarante£ that an audit conducted in accordance with ISAS
(UK) will always detect a material missiatement when it exists. MIssta￿Ments can aTiSe from fraud or error ar¢
considered Materi￿ if, individually or in the aggregate, they could redsonably be exwed to in1luen￿ the economi¢
d￿ls1On$ of users ￿ken on ihe basis of these financial siatements.
IJYe8ularities, incllllting fralld, are instances of non-compliance with laws and regulaiions. We desigm ptDceduFe5 in line with
our Te5ponsibilities, outlined aknve to detect material niisstatements in respect of ijregu12riiies, inclllding fraud. The extent
to which our procedures are capable of detecting irregularities, includirtg fraud is detailed beltsw..
We focussed otj laws and rtgulatioos which ¢tsuld give ris¢ to a rnaterial misstatement in the financial statements, including
the Charities Act 2011. In common with all audits under ISAS IUKI, we are also required to Identify management override as
a signifi¢ant risk and io wfomi specific pro¢edures to reswnd to that risk. Our procedures included reviewin8 the financia]
statement disclosures gnd testing supwrting do¢umenthtion to assess ¢omplian¢e with laws and regulations having a direct
effect on the financial staiemens. We also made enquiTies of managetnent. read tninute5 of meetings and perfomied
alla[￿lea[ and sllbstantive procedures io identify unusual or un¢xpe¢ted events that may indicate ri5k5 of material
misstatement due to fraud. I￿,¢ teS￿d the appmpriatene55 of journaj entries and ￿seSSed whaher judgements made are
indicative of potential bias. We also communicated relevant id¢ntifi¢d laws and regulations )￿d potential fraud risks to all
engagetnent teatn tnembers, a￿d remained alert to any indications of fraud throughout the audit.
Because of th¢ inherent limitations of an audit, there is a risk that we will not detect irregularities, including thos¢ leading
to a material mi55tatement in the financial stateTnents or non-cotnpliance with regulation. This risk increases the Jnore that
compliance wtkh a law or regulation is removed from the events and trdnsactions reflected in the firtancial statetnents. a5 We
will b¢ less likely to ￿cOMe aw￿ of insiances of non-compliart¢e. The risk 15 also greater regarding irregularities occu￿]ng
due to fraud rather than error, as fraud involves intentional ¢on¢¢almeni, forgery, collusion, (Kni5sion or TnisrepTesentation.
A further deseripiion of our reswnsibilities f¢x the audir of the fmancial staiements is located on the Firwicial Reporting
Council's website at www.frc.otg.uwaudit0rsre5￿nSibl1itlt5. Thi5 description forn]s part of our Report of the Independent
AUdi￿r$.
Page 7

REPORT OF THE INDEPEYDENT AUDITORS TO THE TRUSTEES OF
w w soirrHALL TRusr
Use of our report
This report is ]nade solely to the Charity's trus*es, as a body, in a¢cordanc¢ with Part 4 of the Charities (Accounts and
Reports) Regulations 2008 Our alldii work has been undertaken so that we might stale lo the charity's trustees those matters
we are required to stale to them in an audilor5' report and for no other PUTW)s¢. To the fullest extent p¢ttnitted by law, we do
not a¢rept or as5Utne resportsibility 10 anyone other than the charity and the charity's trustees as a b￿y, for our audit work,
for this report. or forthe opinions ￿ have fortn¢d.
Andrews and Pal
Statutory Auditors
32 Th¢ Square
Gillingham
Dorset
rLtd
SP8 4AR
Date..
. November 2024
Page 8

W F SOUTHALL TRUSF
srATEMENf OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED S APRtL2024
5.4.24
Total
funds
5.4.23
Total
funds
Unrestricted
fvnd5
Reskn¢led
fund
Endowtntnt
fund
Notes
INCOME AND
ENDOWMEl￿s FROM
Investment income
319,678
319,678
328,823
EXPENDITURE ON
Raisin8 funds
57.541
57,541
57.851
Charitsble activities
Direct chyritable gra￿ts
361,213
361.213
315,501
Other
47,624
47.624
45,720
TotAI
408,837
57.541
466J78
419,072
Net g￿n5/(losses) on investments
120,839
120.839
(1.745,9{￿ I
NET
INCOMEI(EXPENDITURE)
Transfe￿ between fund$
{89.159)
113,807
63,298
{113.807}
{25,8611
11,836,155)
14
Net DJovemen¢ in funds
24,648
150,5091
{25,8611
11.836,155)
RECONCILIATION OF
FUNDS
Total funds brought fotivard
{11,3221
11.963.619
11,952297
13,788.452
TOTAL FUNDS CARRIED
FORW.4RD
13,326
11,926,436
11,952,297
The notes fomi part of these financial statements
Page 9

W F soLrrHALL TRUST
BALANCE SHEET
S APRIL 2024
5.4.24
Total
funds
5.4.23
Total
funds
Unrestricted
fijnds
R¢strirtd
fund
Endowment
fund
Notes
IXED ASSETS
Tangible assets
Investtnents
10
937
937
1,913,110
11,963,619
937
11,913,110
11.914.047
11,963,619
CURRENT ASSETS
Ikbiors
C&sh at bank
12
265
30,516
265
30.516
5,5 16
21.268
30,781
30.781
26.784
CREDITORS
Amounts falling due within one
year
13
{18.392)
{18,392)
(38.1061
NET CURRENT ASSETS
12,389
12,389
111.3221
TOT AL ASSETS LESS
CURRKiYT LIABILITIES
13,326
11.926,436
11,952,297
NET ASSETS
13.326
11,913.110
11,926.436
11,952,297
14
Unrestricted fijnds
EndoMm¢nt fwids
13,326
111,3221
1,963,619
T(yfAL FUiYDS
11,926,436
11.952,297
The financial statements were approved by the Board of Trustees and auilK)rised for issu¢ on 16 November 2024 and were
signed on ils behalf by..
Matk Holtom- T]uste¢
Richard Maw- Tnjstee
The note5 forn] part of the5¢ financial 5tdtements
Page 10

W FSOUTHALL TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED5 APRtL2024
ACCOUNTING POLICIES
Basi5 of preparing the flnancial ststements
The financial sraiements of the charity. whi¢h Is a public benefit ¢rttity under FRS 102, have been prepared in
accordance with the Chariiies SORP IFRS 1021 'Accouniing and Rewrting by Charities.. Staiement of
Recommend¢d Pra¢tice applicable to ¢hariii<% preparing their acwunts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeciive l January 20191,, Financial Reponing
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and thc Charitie5 Act
2011. The finan¢ial stsiemenis have been pr¢pared under the historical iy>si ¢onvention, with ihe excepiion of
investments which a]t included at market value.
Income
All income is recogni5ed in the Statement of Finamcial Activitie5 once the charity has entitlement to the funds, it is
probable that the income will be rtteived and the amount can be me&sured reliably.
Donations ￿ reCO￿lsed when the Tnst has been n(xified in writing of bo¢h the amount and settlement date.
Inte￿$t on fvnds held on deposit is included when re¢¢ivable and th¢ amouni can be measured reliably by ihe Trust.
This is normally on notification of the inieresi paid or payable by the bank. Divid¢nds ar¢ ffcognised once the
dividend has been declared and ntstifi¢ation rtteived of the dividend due. This 15 norn]aily utx)n tM)tification by our
stockbrokers alld investtllent advisers.
Expenditure
Liabiliti￿ ar¢ re£osnised &8 expenditure as soon a5 ther¢ is a 1¢8a] or constLUCtive obligation committin8 the charity
that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the transfer 15
deemed likely to happen. Expenditure is accounted for on an accruals b&sis and h&s been classified under headings
that aggregate all cost related to the category.
Irrecoverable VAT is charged against ihe expendiiure headllig for which li was incurred.
Grant5 payable are payments made to third p¥rtie5 in the furtherance of the charitable objectives of the trust. Ill the
case of an llncondiiional grant offer, this is accrned once the trnstees have approved th¢ grani and the re¢ipient has
en notified. Grant5 that are subjcct to the recipient fulfilling perf0Th)g￿¢t condition5 are only accrued when the
reeipient has been notified of the grdni and any remaining unfulfilled condition attaehing to that gront is outside of
the control of the TNst.
The tn]stees will not bind themselves contractually orotherwise to make ￿tUre grants.
Raising fun
The costs of generating funds conslst of investment management and C£￿)￿ legal and professiot￿l fee5.
Governance eosts
Govcrnance costs include costs of the preparation and audit Of statutory account5, the costs of tNstee ineetings and
cost of any legal and professional advice lo trustees on govemance or constitutiond matters and adminiStr￿lon of the
trust. Governance costs are a]located &s Other costs within the generdl unrestricted fund.
Tangible fixed gssets
Depreciation is prowded at the following annual rates in ord¢T to write off each asset over its estimated useful life.
Computer equipment
25¢10 On Cost
TAx8tion
The charity is exempt from ￿ on its charitsble aaivities.
Page 11
COtLtinued...

W FSOUTHALL TRusr
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED S APIUL 2024
ACCO[￿TING POLICIES- continued
Fund Accounting
UnrestTlfted fvnds ¢aD be used In acwrKlanc¢ with the chaTitsble objective5 at the discretion of th¢ trustees.
The unrestricted funds are as follow$'.
Income Fund This fund rep￿sentS incorne geneTated from the inv¢5tments held Mithin the expendable endowtnent
fund and bank interest received on undistributed income fund deposits, nei of charitsble expenses and governance
costs.
Expendable Endowm¢ni Fund - This futxl represents the market value of investtnents ne¢ of investsneni management
costs. The tru5te¢s have ab501ute discretion to use both capita] and income for the S￿￿¢ charitable purpose5 in
accordance with the trusi deed.
Restricted funds can only b¢ used for particular re5trirted purpose5 within the objects of the charity. R¢strictIOll5
arLSe when specified by the donoror when filnds are raised for particular restricted PUTW)ses.
Pension costs and other po$t-retir¢rnent b¢n¢fits
The charity rnakes ¢onknbutions into a pension s¢heTne. Contribution5 payable ￿t0 the pension 5ch¢me are ch￿ged
to the Statement of Financial Activities in the perilxl to whi¢h they relat¢.
Fixed gs$¢t investments and finan¢ial instruments
Investments are a forni of basic financial tnstrument and are initially recognised at their transaction v￿lle and
subsequently measured at their market value as al the balanee sheet date using th¢ GlosiDg quot¢d mark¢t prite. The
slat¢rn¢nt of financial activities include5 the net gain5 and losses arising on revaluation and disposals throughout the
year.
The charity (k)es not acqui￿ put opiions, derivaiives or other Complex financial instruments.
Rtalised and u￿r￿1]Sed gains losses on investments
All gaiths and 105ses are taken to the statemellt of fjnancial activitie5 &8 they aTise. Rea125ed gains and 105se5 Oti
investments are calculated as the difference between sales proceeds at)d their openitjg carrying value or their
purchase valu¢ if *quir¢d during th¢ financial year. Unrralisd gains and 1055¢s arc calculated a5 the differ¢nr¢
between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses
are cornbined in the Statement of Financial Activities.
Debtors
Trade and other debtors are rttogntsed at the settlement amouni re¢eivable. Prepaymenis are valued at the histori¢
ctsst of th¢ amount prepaid.
Cash #t bank
C&th at bank is defjned by the charity as ftjndg available to be used immediately.
Credittsr5
Creditors and provisions are recogni5ed where the charity has a present obligation resulting from a past event that
will probably result in the transfer of fvnds to a third pary and the amount due to settle the obligation Can be
me&sured reliably. Creditors and provisions are recognised at their settlement amount.
Page 12
¢ontinued...

W F SOUTHALL TRusr
NOTES TO THE FINANCIAL STATEMEwfs- ¢ontinu¢d
FOR THE YEAR ENDED 5 APRIL 2024
INITsfMENT INCOME
5.4.24
5.4.23
UK stock ¢xGhange- Dividends
UK stock exchange- Fixed interest
Bank interest
231,852
79.342
8.484
257,328
69,280
2,215
319,678
328.823
RAISING FUNDS
Investment mAnagement tosts
5.4.24
5.4.23
Portfolits management
Investment advie¢
56,041
1,500
56,351
1,500
57,541
57,851
GIL4Kfs PAYABLE
5.4.24
5.4.23
Dtrect charitable grants
361,213
315,501
Direct ¢hariiable grants were made to 73 (2023 - 871 different charitable and voluntary institutions. The grants were
made under the followxn8 categories to the bodies named below:.
5.4.24
5.4.23
Quaker Work & Withes5
Quak¢rs in Britain
Rookhow
British Friends of QCEA
Frederick Street Preparalive Meetin& Religious Society of Friends in I￿lattd
Friends World CoTnmittee for Consultation
Glenthorne Quaker Centre
Li5burn Monthly Mecting
Forward Africa Educaiion
AiTton Friend5 Meeting
Quaker Tapesty
Crdwshawknoih Quakers
Sussex East Quakets
50,000
10,000
50,000
5.000
3,000
5,000
5.000
3.000
3,000
88,000
74,000
5.4.24
5.4.23
Peace and Reconciliation
Demilitari5e Education
Mint House Oxford
Pea¢e Museum
Welsh Centre for Intemationa] Affairs
5.000
5,000
5,000
5.000
5,OIK>
Page 13
continued...

W F SOUtHALL TRusr
r40TES TO THE FINANCi4L STATEMENTS- eontinued
FOR THE YEAR ENDED.$ APRIL 2024
GRATrrrs PAYABLE- tontinued
Central Eng12nd Quakers (Peace Hub)
Quaker Con80 PgAner5hip
P¢ac¢Jnaket5 IWMQPEPI
Safel Support for Young People Affected by Crllne
TREAT ITrust for Research and Education on the Arnis Trade)
Blackley Centre
Headliners IUKI
Latjsbury House TNst
I 111 Other grants up to £3,000 each
4,456
4,000
3.000
3.000
3,000
1,662
2,250
39,118
26,250
5.4.24
5.4.23
Environmentsl Aetion •nd Sustsin&bility
ECCR (Just fvIoney Movement)
Eco Bimiingham
Ecological Continuity Trust
Hands of Hope
Meanwood Valley Urban Fam
Cumbria Action Sustainability
Friends of Monze
Third Hope
BTogdale Colleciions
Bumba Foundation
Inietclimate Ttust
Tuppenny Barn Education
Climate Ed Grant
Movements Trust (Climate Emergency UK)
Caplor Horizons
Carymoor Environmental Tn]st
ClearRivers Trust
Ghana (hjtlook
Lotlls Flower Trust
Mango Tree Orphan Support
SEED
Sumatran Orangutan Society
TTipod Ltd
UK Harvest Ltd
Zimbabwe Edllcational Ttyst
1 (41 Other grants up to £3,IX)O each
5,000
5.000
5,000
5.000
5.000
4,692
4.500
4.500
3.000
3,000
3.000
3,000
3.000
3,000
3.000
3,000
3.000
3,000
3.000
3,000
3.000
3,000
7,500
2,￿0
52,692
59,51>0
5.4.24
5.4.23
Sotlgl Action
British Shalotn Sajaam Tn￿t
Bristol Bike Project
Aldates CoTnmunity Tiansforn)ation Initiatives
15.000
10.000
5.000
Page 14
continued...

W F SOUTHALL TRusr
NOTES TO THE FINANCIAL STATEMENfs- continued
FOR THE YEAR ENDED 5 APRIL 2024
GtL4NTS PA YABLE- tontinued
BKk on Track Manchester
Birmingham Community Hosting Networt(
Changing Tunes
Dcvon & Cornwall Refugee Support
DZI Foundaiion
EducAid Sierra Leone
Frontier Youth Ttust
Hope ai Home
Made in Hackney
Quaker Bolivia Link
Recycle
Relationa] Hub
T&qm Kenya
Trio Uganda
West yO￿S CCP Grant
Together Now
Peasholme Cen1￿ York
Karen Fblliribes Trust
Loma Young Foundation
Pathways for All People
Just Srnall c.hange
South West Community Chaplaincy
Inter c.are Ltd
Eduspots
EFA London
Hea]thPro
Hope International Development Agency
LAMB Health Care Foundqrion
LIFE Foundatio
Mango Tree Orphan Support
Pathways to Health
Prisoners Penfriend5
Routes to R(M)ts (Poolel
Scholatship 4 Street Kid5
Unlock
Bloody Good Period
No Way TNSI
Norwich-Dezda Parthership
Rainbow Migrati¢yJ
Second Sighi
Shareware Clothing S¢h¢tne
St Augusline Centre H￿l[L
SAL VE Intemational
Alternatives to Violence
AMURT L
Ban)ns c.ourt Pttsje¢t
Child in Need
Children Change Colombia
ctFA Trust
Clowns Without Bord¢r5
Entrdide (Mutual Aid)
Faithwotk5 Wessex
S,0(K)
5,000
5.000
5.000
5,000
5,0(M)
5.000
5,0
5,OtJi
5,0(K)
5,0(Kl
5,OlX)
5,0
5,000
5,000
4,900
4,5
4,0(K)
4,000
4,000
3,500
3.500
3.195
3,000
3,000
3,000
3,000
3,OLM>
3,OtJ)
3,0(X>
3,0(K>
5.000
4.300
5,IM>O
5.000
5,000
5,000
5,000
5,000
4,917
3,945
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3.000
3.000
Page 15
¢otttinued...

W F SOUTHALL TRUST
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED S APRtL 2024
GEL4NTS PAYABLE . ¢ontinued
Five Talents UK
Growing Well Limited
HALOW {Birtninghaml
Hardman Trust
Ice and FiTe Theatre CompaThy
Maurt RefiJg¢
National Association for Children of Alcoholics (NACOAI
Nottinghamshire Refugee Forum
Prison Phoenix Tn￿[
Salt of th¢ Earth
Sanctuary Kitklees
STAA
Sudden Produthiorts
Slltvivors Fund (SURFI
SurvivoT5 of Human Tratricking
Treasures FouThlation
rurn￿g Point Trusi
Young Roots
311410th(x grants up to £3.000 each
3,000
3.000
3,000
3.000
3.000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,0(K>
3,000
3,OIK>
3,000
24,589
5,808
178,403
153,751
5.4.24
5.4.23
Southall Award
Bath Spa University
2.000
2,000
SUPPORT COSTS
Gover￿ce
costs
her Irsow￿$ expended
47.624
Page 16
Continued...

W F SOUTHALL TRusr
NOTES TO THE FINANCIAL STATEMENfs- totttinued
FOR THE YEAR ENDED S APRIL2024
SUPPORT COSTS- continued
SupFK)n costs included in rhe above. are as follows..
5.4.24
Other
rtx)urces
expended
5.4.23
Total
activities
TTU5tee5' remuneration etc
Wages
Pensions
Auditor5, remunerdtion
Auditors, remun¢rdtion fornon audit work
Insurance
Meeting expenses
Other administration costs
Legal and profe5510n￿ fees
Depreciation of tsngible fixed assets
958
32,793
1,620
4,329
2,331
203
3,838
1,240
777
24,989
1,250
4,401
2,305
385
2.713
.550
7,350
312
47,624
45,720
AUDrtORS' REMUNEJL4TJON
5.4.24
5.4.23
Fees payable to the charity's auditors for the audit of rhe Charity's fmartcial
statements
Auditors. remuneration for non audit work
4,329
2.331
4.401
2,305
TRusfEES' REMUNERATION AND BENEFITS
There were no trustees. reTnuneration or other benefjts for the year ended 5 April 2024 nor for the year endcd
5 April 2023.
Trustees, expenses
5.4.24
5.4.23
Tnjstees, expenses
958
777
The trustees 81182ve freely of their lime and exputise without any form of retnuneration or other benefit in cash or
kind (2023." £nill. Expense5 paid directly to the trustees in the year iotalled £95812023.. £777X which were made up
of 5 trustees reimbursd meeting and rneeting related travel expenses.
Page 17
continued...

W F SOUTHALL TRUST
NOTES TO THE FINANCIAL STATEMENTS- coNtiNued
FOR THE YEAR EryDED5 APRIL 2024
STAFF COSTS
5.4.24
5.4.23
Wages and salaries
Other pension costs
32,793
1,620
24,989
1,250
34,413
26,239
The average monthly number of employees during the year was as follows..
5.4.24
5.4.23
Administration
No employees received emolutnents in excess of £60,000.
co￿A￿￿TIVEs FOR THE STATEMENT OF FINANCIAL AcfiviTIES
Unrrstri¢ted
Restricted
funds
fund
Endowment
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Invfstment income
328.823
328,823
EXPENDITURE ON
Raising funds
57.851
57,851
Charitable actiTritieS
Direct charitable grants
315,501
315,501
Other
45.720
45,720
Totsl
361221
57,851
419,072
Net gainFJ(loss¢sl on investments
11,745.906) {1.745,9061
NET INCOMEI{EXPEYDITURE)
Transfers between funds
132,3981
32,582
(1.803,757 }
132,582)
11,836,155)
Net movemtht in fullds
11,836,339)
11,836,1551
RECONC.ILIATION OF FUNDS
Total funds brought forward
111,506)
13,799.958
13.788,452
TOTAL FUNDS CARRIED FORWARD
(11,322)
11,963,619
11,952,297
Page 18
continued...

W F SOLrfHALL TRusr
NOTES TO THE FINANCIAL STATEMENTS- Continued
FOR THE YEAR ENDED 5 APRIL 2024
io.
TANGIBLE FIXED ASSETS
Computer
equipmeni
co
Additions
1,249
DEPRECIATION
Charge foryear
312
NET BOOK VALUE
At 5 April 2024
937
At 5 April 2023
ii.
FIXED ASSET INVEStMENrs
Listed
investtnents
MARKET VALUE
Ai 6 April 2023
Additior15
Disposals
Revaluations including cash Thovement
11.96i,619
2,060.601
12,443,535)
332,425
At S April 2024
NET BOOK VALUE
Ai 5 April 2024
Ai 5 April 2023
11,963,619
The investsnenis are l(Kated as follows,.
5.4.24
5.4.23
Within L
Out5id¢ the UK
8,808,825
3,104,285
9,543.253
2,420.366
11,963.619
No invesiment in 2n individual entity held at 5 April 2024 nor 5 April 2023 had a m￿ket value ￿eater than 50/0 of
the total portfolio of listed investments.
All investtnents are caTtied at their tnarket value. Investment in equities and fixed interest securities are all Irdded in
quoted public markets, primarily the tA)ndon Sro¢k Exchange.
Analysis of invtttrnents at fair value
5.4.24
5.4.23
Eqllities
9.803.481
10,517,380
Page 19
continued...

W F SOUTHALL TRUST
NOTES TO THE FINANCL4L STATEMENTS- continued
FOR THE YEAR ENDED S APRIL 2024
FIXED ASSET INVESTMENTS- continued
Fixed interest securities
C&8h held withill the investment portfolio
1.860.292
249,337
1,310,594
135,645
11,913,110
11,963,619
The main risk to the Trust from fjnanciai instruments lie5 ill the combination of uncertain investment markets and
volatility in yield. The Trust is reliant on dividend yield in part to fjnallce its granl tnaking activities. The Trust
manages these itivesttnent risks by retaining expcrts advisors and operating an investment policy that, in addition to
meeting ethic￿ criteri4 provides for a hi8h degree of diversification of holdings within investment a55d cla55e5 that
are quoted on recognised stock exchanges.
12.
DEBTORS: Amouiyfs FALLING DUE WITHIN ONE YEAR
5.4.24
5.4.23
Prepayments and accn]ed income
265
5.516
13.
CREDITORS: AMOUNfs FALLING DUE WITHIN ONE YEAR
5.4.24
5.4.23
Social security and other taxes
Pensions payable
Accrued expense5
lJ25
192
16,875
1.270
180
36,656
18,392
38,106
14.
MOVEMENT IN FUNDS
Net
movernenl
in funds
Tran5fer5
between
funds
At
At 6.4.23
Ullrestrieted fun(Ls
IncoTne fund
{11.3221
189,1591
113,807
13,326
Endowment funds
Endowment fund
11,963,619
63,298
1113,807}
TOTAL FUNDS
11,952,297
125,8611
11,926,436
Page 20
continued...

W F SOUTHALL TRUST
NOTKS TO THE FINANCIAL STATEMEwfs- continued
FOR THE YEAR ENDED 5 APRIL 2024
14
MOVEMEf4rr IN FUNDS- continued
Ner movement in funds, included in the aFM)ve are as follows=
Incoming
resollrc¢s
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted fund
Income fund
319,678
{408,837)
(89.1591
Endowment funds
Endowment fund
(57,541 }
120.839
63.298
TOTAL FUPIDS
319.678
1466,378 }
120.839
125.861 }
CompAl*tives for movement in funds
Net
movement
in fund5
Transfers
between
funds
At
5.4.23
At 6.4.22
Unrestricted fun(ts
Income fund
111,506}
{32,398)
32,582
(11,3221
Endowment fund5
Endowment fund
13,799,958
11,803.757)
(32.5821
11,963,619
TOTAL FUNDS
13.788,452
11,836,155)
11,952,297
Comparative net movement in funds, intlud¢d in the above are &8 follow5..
Incoming
resources
Resources
expended
Gaitjs and
1055eS
MoveTtLellt
in funds
Unrostricted funds
Income fund
328.823
1361,2211
132,3981
Endowment funds
Endowment fwid
{57,8511
11,745,906) {1.803.757)
TOTAL FUNDS
328,823
{419,072) 11,745,9061
{1,836,1551
Page21
o)niinued...

W F SOl￿HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS- eontinued
FOR THE YEAR ENDED S APRIL 2024
14.
MOVEMENT IN FUNDS- contillued
A current year 12 month5 and prior year 12 months combined p05ltion is as follows..
Net
movem¢nt
in fvnds
TransfeTS
between
funds
At
5.4.24
At 6.422
Unre5trieted funds
Income futid
111.506)
1121,5571
146,389
13,326
Endowment funiLs
Endowment fund
13,799.958
11,740,459}
{146,3891
TOTAL FUNDS
13,788,452
11.862,016
11.926.436
A current year 12 months and Prior year 12 months combined net movement in funds, included in the above a￿ as
follows.
Incoming
re50urtts
Resource5
expended
Gains and
losse5
Movement
in funds
Unrestricted funds
Income fund
648,501
(770.0581
{121.5571
Endowment thn(ts
EE)dowtnent fund
(115,3921
(1.625,067 } {1.740,4591
TOTAL FUNDS
648,501
{885,450) (1,625,067)
(1,862,016}
Income Fund - This fund represents ineome generated fTom the investtrtenis held within the expendable endowmeni
fund and bank interest received on undistribuied income fund dep05lt5. net of charitable expenses and govemance
costs.
Restricted Fund This fund can only be used for particular ttstN¢ted ptwses within the objects of the GhaTity.
Restrictiolls arise when specified by the donor or when funds are raised foT particular restricted purposes.
Expendable En&)wment Fund- Thi5 fund repT¢S¢nts the market value of Ènvestment5 net of invesbnent management
Costs. The trustees have absolute discretion to use ix)th ¢apital and income for the 59Jne charitable purroses in
accordance with the trust deed.
Page 22
¢onlinued...

W F soufHALL TRUST
NOTES TO THE FINANCIAL STATEMEp¥fs- continued
FOR THE YEAR ENDED 5 APRtL 2024
RELATED PARTY DISCLOSURES
There were no related party trans*tions for the year cnded 5 April 2024 other than reimbursed trust￿5, expenses
shown in note 7.
Pag¢ 23