W.E. Duyli CIL4RITABLE TRUST FIPAPCIAL sTATEIENTs PEJUOD LNDED 31 MARCH 2024 Chirlty Dllmb¢r 219418
W.L DUNN CHARTIABLE TRUST REPORT OF THE TRUSTEES for the period eDded 31 March 2024 The Ttee8 present their R¢tx)rt for thepttiod 31 March 2024. The TnE8tees have adopted the provisions of the Srai¢rnent of Recommend Practice ISORP) 'Accounting and Reportitig by Clwiu¢s' IFRS 102) ' prepaTiti£ the annual repon alld fllwcial 8tateTnents of th¢ Charity. The financial qtatements have en pr¢pared in accordance with tbe accouniing policies Set oui ill t)otes to tbe accoullts and coowly with the Charity's governing documeou the Chariues Aci 2011 aDd Accounttng and Reporting by Charilies.. Ststement of Rlxommended Practice applicable to charttics preparing their Aceounts in accordance with the FinanethL R¢torting Stfjndard applirAble iti the UK aud Republic of Ireland pubtisbed ott 16 luly 2014. Reference and Admllllstratlve Inform4tlon The Trust 18 Kgi5tercd with the Charity Commi$8ion. g1$tratiOll numl)er 219418, The Trust h&% been llccepied as a chariiy by H M Revenue and Cu8tomJ and as such its income and ¢4>1 gaill5 arc ¢x¢mpi from t&xaiion. Trustee8 The Trnstee$ who Ve ¢kning the year We.. David J Corney - Chairman Leits H Sm¢thur8t Ra¢h¢l J Ilardy AlanH Smith The day to day administraiion of th¢ Tn]s1 is Carri out by Mrs Mary Touhy. She 1$ the Tru8t's one nplOyee, and L8 employcd on a part time basis. ShL Iicts &8 Secreiary io thc Trustccs and to the Gran Su1COmi1ttee And is r¢Bponsible for a]1 grant appli¢aiion8 and pn)cessin8 of all accounting records. She mav be eontsoted at No.30 Bentley Heath Cotiagc5, Til¢hou8¢ Green Lane, Knuwl¢, Solihull, West MidlJnd8 E193 9EL, which is the official th of the TNsi. Independent Exhmlner Thc'fn]8tCC8 havc determilled that an tndep¢nd¢ol exatnination of the TnL8t's fitwieial 8tutement¥ is rcquircd this year and have appointed Shona Culler BS¢ (Honsl, FCA TEP of Shona Cutler Lifftitd Chartered Ac¢ountanL% Grove Fa Bungalow. Lincomb. Stourport on Sevem, Worceytershire, DY13 9RB. Other *dviser5 The Tru8tees operdte a bank aOUnt with Lloyds Bank Pl¢ of Units 2 & 3 Caxton Gate, 3d38 New Street. Birrnin8ham B2 4LP Legal #dviser8 lo the TNstees are DWF LLP Soli¢i¢ors ofone Snowbiti, Snow Ilill Queenswjy, Birmingham, B4 6G Strllcture, Goi'ernanco ind MageIellt Governing Document The Trnst was created by a Deed of Settlement dated 28 July 1958 by Williarn Edwin Dunn. The Twst Colllinues to be governed by this Deed.
W.E. DUNY CHIlRfFABLE TRUST REPORT OF THE TRUSTEES for the perlod ended 31 M&r¢b 2024 (continued) Governing Document (c4)nbttucd) The Trnstees aff empowcred to hold the Tnjst Fund and tbe income thereof for the benefIt of gueh ¢harttabl¢ insututions or objects as tile Truste&8 An their absolute di8cretion 8elect Recrultment and Appolntment of Trustees There arc no provisions in the Trust Deed in r&spect of the number of Tnlee8 exccpi that there is power for a sole TrllSe to act. subjcci to any express 8tstutory provision to the contrary. Thc exisDn8 TnISe$ power to appoitit new Trustees. Th¢r¢ is no requiremenr for any Trnstet to retire and 5¢ek re-app)intn)ent. There are pre8eDtly four Trustess and ch8nge8 (Jccur infrequently. Th¢ present Tnjstees are mcmbers of the local cOnUllI[Y who are in sympiihy with the ainu of the Trust. The Trus(tt$ are local peopl¢ of experiett¢¢ and iutegriiy who in thetr differetsr ways add to the tnJst8 a¢tivitie8. Pr08pective Trustees are invited to tne¢i fcllow TTU5tces and tbe administrator and observe the i'arious meetiAgs ift whi¢h they will be ittvolyed. They Are provided with copies of the Tjust Deed and other infommtion relating to the aims and admiui5(ration of the.1"nl. They also meet those reO31b1¢ for inv¢stm¢n¢ ond 4ccounling d¢cision8. They ar¢ made awarc of the lime they should exp1 to gpend working for tbe Trust and the respon$ibilitie8 ¢hai TrSeship inyolvcs. They becotne signatories of the batth dCeOUllt8 and wb¢u all the fortnali¢ie5 are complete they &re welcomed a8 thlly worknng Tnle¢s. Rljk Mantt¥ement The I'nislees have reviewed the risks 10 wbi¢h lh¢ Trl is exposed. They on3id¢T that th¢ only major ribk is the possibility Ot a loss of ¢apilai as 1t of a failuro prop¢dy ¢0 wntr(Trl the inl'esiments of Ihe TnJ8L sYst¢n ILave beeD established mitl8a this and other risks. Orgllnly4tlonal Struclure All m&itcrs ofpolicy and manog¢ment olthe Trusl are kned by the Trustee5 at their regulor meetings, which currently tak¢ plac¢ four times ea¢kn year. The Trnslees hrtvc appointed a Grants SUb-Mmittee with a quorum of two per80ns consisting of one or mor¢ of their number ¢ogether with the Secretary to thc Tn]stce8, This sub-commiiiee hll5 been 8iven the power to approve grallts wi(hin certain spccificd limiis. The Su¢nLIttCe meets weekly, or as required and reports its activilies and a summary of its de¢i5Aon8 to the full body of Trustees at each TrtL8. rneeting. The prc4ent rnember5 of tbe sub<omnLiiiee are Mrs Smethurst and Mr Smitb, and Mary Tollhy who acts as Secretary to the Su¢0mmittee. EaLh of the otb¢rTruslee8 attend the mECtin88 of the Gr8Thts CotDmi¢tee on a rota b&8is when avaiiabl The Tte¢S have appointed an Investment su1COMmitt¢¢ of two of tbeir mimLr. Thi5 sub-committe4 has been given the responsibility for advising the Trusttts on all aspe¢Ly of investmenl policy and monitoring the WOTk of thE InvEstmEnt ManageT¥, Carya¢rd Genuity, lorn]erly Hargreave Hale, appointed by tbe Trustees. It has been giv¢n the power to give instsuction8 10 the InveSent Managers wiihin the Tru5tee5' overall itiveStent policy. li is the curra]t policy of this sUCOmmIttee lo meei when necessary but at letst twice ea¢h year. It 19 AEquired to ryort its activities to the fvll body of TtU5tees at ch Trus¢ees' weetsng. The present Jnembers of this Su1comMittee are Mr David Corney and Mr Alau Smith.
W. DUNN CHARfTABLE TRUST REPORT OF THE TRUSTEES for the period ended 31 Mareb 2024 (¢ontiryued) Objeetives It 18 the aim ofthe TrustE£S pre5¢ntiy and in the to n]miZe thc Income, consistent with the wisll to tDaintaiD the real value of the p¢man¢nt cndowment of the Tftl ill order to gTElll njuch as possible, as qui¢kLy &$ prnoti¢abl¢, lo ¢haTitable insuDJiioLs or kn needy illdividuais. The Trnstees haye referred to the guidan conthined in the Charity Co]nmi8sion's general guidance on public benefit when revicwing the Charitrfs ainjs objectiv&8 aDd plawiiog fUlle activitie&. In particular, the TnteeS have eotsidered how planoed activitie5 will coDtiibu* #ims and objectives 8et. Grant MaklAg Pollcy li 18 the lIcY of the Trustees At the first meeting of Tr in each fmanciai year to deiennille how much is to b¢ rnade available for the makin8 of grants. In rnkg this decision the TrUstS f(Trllow th¢ir re5erYes F¥)licy which is to r&8tri¢t the retcnlion of ir5 reserve8 to the tttl of {a) grants already approved but no¢ paid unul ¢crt&in specific conditions have been rnet and Ibl a workin8 capital requimnent no( excecding the budgeted support governm¢¢ expen8es of the"I'Jusi for the year. ttt the curtent FKriod the 8raiits at nditUr¢ ex¢¢eded the income generatrd in th¢ period. The GJant8 Sub-committee is emrrt)wered to approv¢ and make grants tbroughout the year up to the liniit so fLxed. Othcr grants ts) instiluliolls will be made by tho Tnjsttts at their qulY etIng up to the limits fixed. Aehlev¢menls, P¢rfortnAllce and Financlal Rei'lew Tlu'4 ycrtr th¢ IrusteL4 hAVC d#ided to tyh4ngc. the year end fmm 5 April to 31° March. The fillan¢iBi s¢lltements for the F¢riod disclose the det8i18 of the financiDI transactions. It Mll be seen thai after distributions SUFQOrt and governmnce expenses, there way fi deficit of income of £12.642 (2023 sury)lus of income of £192)- The undistributed irt¢orn¢ ai 31 March 2024 amounied to £13.635 (2023.. £26 ?77). During the period A losg of £157,306120?3.' a gain of £127,033) w&q reali8¢d on iftve5¢ment8 yold and there was An Incr$¢ of £438,6?6 (2023: d1£re 01£563.651) in the markei value of invesl]nents held at 31 MaNh 2024. The TrtcL5 arc of the opinion tha¢ the Balance Sh¢¢t discloses FLuth adequate for the pwpose of fidfillin8 th¢ obligation5 olthe TrtL Note 2 to the fJnanGial statements provides fvrtherdetsil on the grants award by the Trusi. DurllLg thc period, th¢ Trust made 335 grants to tndiTriduals tolalling £69,730 {2023.. 320 grdnts totalling £65.787I and made 162 all¢S to io$titution5 iolalling £147,750 (2023- 160 grants total]in8 £143.325). lllvcstment Poll¢y ThE TNst Deed imp08u no reslrictions on the inveslment pow¢rs of the Trustees. The Trn8tee8 have approved an itivest¢t policy that Twuites the production of an adequate income rettm] comsigtellt with a requirement to maintaiTh the teal value of the ¢apital of the Trn8t Using a medium ri8k Criieria. The level of risk rEfleGt5 the asset allocatioll used within the overo11 ttrollO alld not the risk attached to each itidxvidual illvestrnenL The Trwstees opernte an etbical inve8tmerht policy and do not itiVGSi in any company which is involved in gambling. tobaceo pmduction or distriblltson of Wprnogrdphy. The Tnjgtees have appointed Canaccord GeThuity Wea]th lajjagetneno Shp House, Prin¢es Dri¢, Worcester, 1lTr12AB to act 8s InTr'esttnent Managers to the TnEStees on a disCloary b&sis.
W.E. DUL¥N CHARITABLE TRUST REPORT OF THE TRUSTEES for the ptriod ended 31 March 2024 (continued) Reserves Polley The reserves policy is to restrict the retention of reserves to the of (a) grants already approved but not paid until cefiaill specifLC conditions knve been met, of which there were none this peri<)d12023'. nonc) and Ib} a working capital requirerllent not ¢x¢eeding the budgeted supJx)rt and govemance expenses of the trusi for the perArf which in this period atllouoted 10 £21,491 (2023: £19,923}. The atllount held 74t 31 March 2024 of £13,635 did not cxceed this level. Plnns for Future Perlods The'l'Nstees plan to coniinue their poli¢y of m&xiroising the Truses income with a view to at leasr maintainillg the level of grants &Wded. Sl4tement ofTruslee5' Respon8ibllltlu for the fknall¢i statejnent The TNsteey ure SpOr]s1blg for pr¢paTiDg the Trustees, Report 8ad thc fmancial staLemenl8 it) acGordancc with applicable law and Ullited Kingdom Ac¢ounling Standards (United Kingdom Generally Accepted Accounting Practice). The law Applicable ¢0 Cljatitiey in Engla[ & Wa]es vequiras the Tnle to preparc f1¢11 statement9 for e6ch fLrtan¢ial year which givca tNe and fair vi¢w of the stale of (he'L'rust's affairs and of the iti¢omiti8 r¢sourc¢s of th¢ TNst for that peri(Kl. Iu prepariog these financiAI statements. the Tru$lee8 ar¢ required to: (a) select sllitable aecounting poli¢ies and apply thcm COnsi8ndy1 (b) ob8erve the methods and principals io the Charities SORP. (cl make judgements at)d eStiMe$ that are reasonable and prudenL (d) stale whetber applicable aoUnting st&ndArdq bave be followe gubje¢l ¢0 any tna¢¢rial depJrtUTes d1105Cd and explllined in the statements; (e) prepar¢ the fin8ncial stai¢ments on a %oing concern bLsis unl it is considcred inappropriate to assume that the TN8t will contiThu¢. The Ttee8 are responsible for kccping propLY coUn11ng records that dI]05e with reasonable luT8¢Y ai any ts.tne thc fmancial position of th¢ Trust and ettable therji to ensure that the fmanc1 staremenis comply wi(h the Charities.4Gt 2011, the Chan'ty (A¢¢ou0 and RepoEts) Re8ulats"ons 2008 and the provisions of tlle Trusi D¢ed. The TnL$tee& are a180 responsible for 8afeguaThling the 8&qets of the Trn51 and for takitig reasonable 8teps for the prevention and detection of fiaud and other xrre8ularities. Approved by the Tru5ttt¥ on 19th September 21)24 and slgDed OD thelr behalf by: D.J. CORNEY
INDEPENDENT EL4MlllTrR'S REPORT TO TUE TRUSTEES OF W.E. DUYTrI CHARITABLE TRUST l Teport on tbe fuclaI st4teJnents of th¢ Charity for the Fwiod eDded 31 Mar¢h 2024, which are sei out Oll Pa8e5 6 to 19. Regpecdve responsibiiltles of Trust¢es and Euminer The Charitys Truslees are [pOnsIble for tbe preparatson of the finattcial 8tAtenLenLS. The Charity's Trustees cousider that an audit is not required f(Trr this year under 8e¢tion 14412) of the Charities Act 2011 (the 2011 Act) and that an indepthdent examtoation is I£1e It is my respoo8ibiiity to: examine the fItClAi stateMts und¢r tion 145 of the 2011 A¢L to follow the procthw i&id dovrn in the general DirtionS given by the Charity Commtssion under section 145{5Xb) of the 2011 Act; and to State whether particularmatters hav¢ Th)m¢ to Tny att¢ntio Basis of the Independtttt Ex£mlner'i Report My examination w&s carried oui in accordance with the general Direciiolls given by the Cbarily Commission. An examination includ&% a reNiew of th¢ accounting records kept by the Cbarity hud a comparison of the fitwicial ta¢emcnts with those rttords. It also includes consideration of thy unuyu41 ilerns or disclosures in the fjnancial Stsiements Dnd aeekin8 explanAtions from you a5 TnL81c¢s of any such maikrs. The PTocedure8 undertak¢o do ooi provide all the evidert¢¢ that would b¢ requireil for an udit and con8equth)ily 00 opinion is given a$ wli¢ther the financial 8ful¢'rn¢nts pr¢s¢nt a'true and fair viev and the rert is limitrd to those rnatiers set out in thc siatCTn¢nt below. Independeni Eumlner'j Statement In connection with my ex¥minAtion, no mauer has coroe to my attention.. which give9 me rea59nable to believe that in any material respect the requirements ¢0 keep COu0[Ang records in accord&n¢e with section 130 of the th¢ 2011 ACL anil to prepare financial st&temeni$ whioh 0rd with th¢ ac¢ovnting rewrds and to comply with the accouotin8 requirements of the 2011 Act havc not been m¢t' or to which, in my opinion, attentioll should be drawD in order to enable a pri)per understanding of the financial staments to be reached. Shoma Cutler (Hon8), FCA TEP shot Cutler Limiied Grove Farni Bunga]ow Lincomb Sknurport on Severn 19th September 2024 DY139RB
W.E. DITIN CUARryABLE TRUST STATEMENT OF FtNAPiCIAL ACTINTfiES for the period euded 31 Marth 2024 Unreytricted FuDds Perlod to 31 llarch 2024 Toial Year tD 5 Aprll 2023 Tot81 Income Capital D4COME FROM Investment i]Lcome from.. Inve8¢menrs in hands of Investmeni Managers Otber investtn¢nts 225.789 540 225,789 540 228,594 633 Total Income 226J29 226 J29 229,227 EXPENDITiIRY. ON Charit8ble tIVIti (notes 2 & 3) 238,971 26,778 265,749 254,906 TolHI Expenditure 238,971 26.778 265,749 254,906 Lyet Income l xpenlIllre} before Inve9tment RAlni (12,642) {26,7781 (39.420) (25.6791 Galn8llLo8se8) Investmettt$ Realibed uei$¢d (157.3061 438,626 (157,306) 438.6!6 127,033 1563.6511 281.320 281,320 1436,6181 (12.642) ?54.542 241.91K) (462297) Transfer between fimd¥ NET MOVEMEIYT I1¥ FUNDS (12,642) 254,542 241,9 1462,2971 Total fund$ brought forw*rd 26277 5,705,156 5,73A,433 6,193,730 Totsl funds carrled fonvArd 13,035 5.959,698 5,973J33 5,731,433 Th¢ Statement of fin8ncial activities illcludes all gains and los8e8 recognised in the yegr. All incoming rEsource5 and r&wurc&s expended dwive from continuing operations. The ttote8 ou pages 9 19 forni partof these fllwicial statements.
W.E. DUNN CHARtrABL£ TRLST BALANCE SHKET at31 March 2024 2024 2023 Fixed Assets Investments In the haods of Inve8tmeni Matsagern INotr O Others 0[£ 7) 5.955,711 24,158 5.693.488 23,060 5.979,869 5,716,548 CurrEIit As5el8 Debtors (Note 8) Bank balances 4,958 25,867 4.958 25,867 Liabiliiies.. knounts Falling due within one ycar (Note 9) 11,494 10,982 Net Current Assets 16,536) 14,885 Net As8ets 5.973.333 5.731,433 Funds Unre8tricted Capital A¢¢umulated incom¢ 5.959.698 13,635 5,705,156 26,277 Totftl Fund8 5.973,333 5,731.433 The ft0 on pages 9 19 forni parf of these fin8mciai statement& The fmancigl statemenLy on paBe8 6 to 19 We approved by the TnL8tee8 on 19th Sepfember 2024. D.J. CORNEY.........................-...............-....-.-..............-.....--....-......-..-.......- L.H. SMETHURST............-....- A H SMrrH .....-.-..........-..................-........-.........-.......-....--..-.-.........~.........
W.E. DUNN CHARITABLE TRUST STATELVIENT OF CASHFLOW for the perlod ended 31 Marth 2024 2024 2023 CASIIFLOWS FROfvI OPERATING ACTIVITIES Nel movement in funds Inve5tsnent (gains) I losses De¢rca5e l {incr¢a8el in debtors Ill¢re I Ide¢reas¢ in creditors) Le88 investment iticome Le interest illcome 241.900 (281,320) (462,2971 436.618 512 {226.329) 7,109 (229,227) r4et ¢#gh provided by l (used In) operatlng aetlvltles (265,237) (247,7971 CASHFLOWS FROM IPWESTIYG ACTIVITIES Purchase of shares Proceeds from galo of 8har¢s Investhicnt income IntLirt$t itieom¢ Decrease l (Increase) in c&8h held by Tllvesim¢n¢ Manage {1,112,078) 906,977 226,329 (305,7651 554,066 229,227 223,100 (228,511) L¥et co4h provlded by l (US In} Invejdng Acdvltles 244,328 249.017 CIIAN(:E IN CL811 AND CASH F.QLII'ALENTS IN TllE REPORI'llG PLRtOD (20,909) 1,220 Cash and ¢th equivalents ai the be81[ing of the reponin8 peri1 23,867 24,647 C4sh and cash eqiilvAientS At the end of the reportiug perlod 4,958 25,867 ANALYSIS OF CASH AND CASH EQUIVALENTS cuent account Short terni deposits 4,958 25,867 Total cash And eAsh equlvaiertts 4,958 25,867
W.£. DUTriN CHARITABLE TRUST NOTES TO THF. FIYANCIAL sTATENTs for the perlod ended 31 Tarch 2024 l. Sujnmary of significant 8eeountlllg PoUd¢g (a) Gener81 InfOrtiOn and b4sly of prep*r%tlon The W E Dunn Charitsble Trust is an unincorporated charity registered in England and W4les. The addr&88 of the office is given Lll the Trust£e8 R¢pon on page l of these flnancial staiemenis. The nattre of the c]wil5 PTincipal acuvities are th¢ llhaking of grants. Tbe charity wnstitut¢s a public benefi( entity as def]Ded by FRS 102. The financial statenL¢nts hav¢ be¢n prqjared in accordance with Accounting and Rwrting by Ch8ritses.. Statem¢nt ofRexomm¢Dded Prnctice applicable to to charities PErparing their a¢¢ounts in (ordanCe with the Financial Reportin8 Standard applicable in the united Kingdom and Republic of Ireland IFRS 102) issued on 16 July 2014, The Charities Acl 2011 and UK Generally ACct¢d Practice as it appkn'¢$ from l January 2015. The finan¢iAI Staicmenls have been prepared (0 give a'rwe and faie view And hav¢ departed trom the Charities (Accounts Reports) Regulations 2008 only to the extent required to proyidc a'rrue and f4ir view,. This departure has involN'¢d follo.]ng the A¢¢ountiDg and Reporttll8 by Chariiie8'. Staiemeni of Recommended Praciice applicable to chariu¢s pwparin8 their a¢eouots in a¢corilan¢e with the Financial Repurtin8 StandaTd applicoblc in the UK artd R¢publi¢ ollreland {fRS 102) is8ued OTh 16 July 2014. The financial Staen18 are prep4red ¢)n a goiDg concern b18ig under the i$tori¢al cvst convention, m(xlified (o includc ¢crrain itms at fair Yllluc. The financial slolvmenls prepad in sierlillg whi¢h is the fun¢tiot)al and prcscntational wrrency of the chari¢y. The financial Ststements are rounded ts) the neJrt8t pound. The si8nifi¢ani accounting wlicie8 app.ed in the prq)aration of th rinan¢iAI staiemertts ar¢ sei out below. 11)&ge policies hBi'e becn on8iStenily applied to all y¢ar8 presented uoless otherwise ststed. Ib) Fund8 Unr¢8tricted fullds are avadable for u8e llt th¢ dition of the tru8tees in furtherance of the genernl objectives of the charity and whicb Imve Dot IKen dl80aled for other puqxi8eg. Re8tricted funds are filnds which are to u8¢d in accordance with $peeifi¢ restrictions imposed by dottors orwhich h&Ye becn raised by the charity for patti¢ular purposes. The cosi of taisitig and adtntnisterillg such Eunds are ch&ry¢d a84ivsi the specific fun(L The cbarity bas no rcstrictcd funds. Endowtnent thnds represcnt those assets which must be held penDarLeDtly by the Charity. The Charity has no endowmeDt funds.
W.E. DUNN CUARfTABLE TRUST NQTFS TO TKF. FIYANCIAL STATEMENTS for the period ended 31 Lllarch 2024 (COntllll) (e) Income reco8llltloll All itLcorning resources arc included in the Statemet)t of Financial Activities {SoFA) when the charity is legally cntitlcd to the inconic after ally perforniance condiiions have been met. the arnount can mwured Teiiably and it is probable that the income will be received. InYEsttneni illcorne is ¢am¢d through holding assets for investsnent PUTfrt)ses such as share8 and property. It iuclude5 dividendg, inter&8t and renL Trcrc it is noi practicable io Ident ineS[LeI malla8ement Costs incurTed within a 8¢heme with [Canable accuracy the investtneni illcome is reported net of these costs. It is iti¢lud¢d wh¢n the amounr can bc measured reliably. Interest inLome is r¢¢ogni$ed w tho cffwiive inre$l method ADd dividend and rent income is reeognised As the ¢lhan'tls right to re¢cive p4ymcnt 18 c8tsblislw]. (d) Expendlture recogDltion All expenditure is accounted for on an accrnals basis and has been classified under the headings that a88regate all related to the ¢at¢gory. Expendire is reco8lliged where the ts a legal or constructive obligaiiort to make paell to third parties, it is probable thai the seiilernent will bc required and the 8moutJt of the obligatson can be measured reliably. It is catebJoiisL.d under thc following h¢ading5.' - Expenditure on ctwitable artiviti Includ grants awarded gether with (be administrative ¢o$ts of op¢rgting the charity. . Other expenditure repregents those ilerns noi falling into the cate80ri Above, such gov¢man¢e ¢08ts. Irrecoverable VAT is char8ed as an expen a8ain5t the aolivity for which expendiiur¢ aro$¢. (e) Support COSts Support ¢osts are th that a1$t the work of ihe charity but do not direbtly repres¥nt charitsbl¢ activiti&8 include remuneration and admiryistrative payn)ll ¢osL8 and office eosts. (O Goyernance costs Goi'ernau¢e costs include tho% costs a&qo¢iated with meeting the con8titutional and statutory rwuiremeots of the cbftrity and illclude independent aminatiOn fee5 costs linked to th¢ s¢raiegi¢ management of the Charity. io-
W.L DUNN CHARfIABLE TRUST OTES TO THE FD4ANCtAL ST ATEMEYTS for tlie perlod ended 31 hIar¢b 2024 {%) Inwtments tnvestments are recogniged initiallv at fair value whtcb ts nonnally the transaction price excluding tr&nsa¢tion costs. Subsequently, dLey are easured at fair value with ¢hallges recognised in'nei. gainsl{lo&ses) on invcsttneuts, in the SOFA if the 5hare8 are publicly traded or their fair value can otherwise be measured reliably. Other inv¢stroents are measured at Cost less impairmenl. CuMent asset inYe8tments are 8bort Mghly liquid investsnenrs and t held at fair value."fh&8e include c&sh ott deposii and ¢&sh cquivaients with a mAturity of1¢$8 than one year. (h} Debtors and creditors recelvAblelpgy•ble wltlthi on¢ year Debior8 and creditor8 wlth 00 stated inlerest rnte and receivable or p8yable within one year are recurded at trunsaction price. Any lo&ses arisitig from impairnient are rwo8oised in Exndire. (Il'l'AX The ch8riiy is ¢xempt ¢Tity within ibe mealling of schedule 3 of the chitIeS Act 2011 and 18 ¢onsider¥xl io pa58 ihe ies(s sei oui in Paragrap I Scliedule 6 FinanLe Act 2010 god thefOrE 1¢ meets the definitton of a ¢hw'ity for UK corFofdtion purEx)ses. U) GoLng coneern Thc finAll¢ial st8¢¢m¢nts have been prepared on a goin8 concern basia a5 th¢ tru8tee8 believe (hllt no material un¢¢Moinlies ¢xisl. The uustees bave onsidered the level of funds held and the expected level of iocome amd expenditure (or 12 month5 from authorisiog these financial 5tatement8. Th¢ budgeted ineome and expenditure is sufficient with the level of regerves for the Ltwity to be Abl¢ to ¢otttinue as a going concern. (k) FlnAAclal itrUMents The Charity only has fllwi¢ial a&8ets and financial liabilities of a kind that qualify as basic finanGiAi insthjments. Basi¢ rOnClai IStnuncnts ate initially recognised al transaction value and 8ubsequently ed at their settlement value with the exception of bank loans which subsequently measured a( amornsed c<)st using the effective intere3t method.
W.E. DUNY CHARrrABLE TRUST LYOTES TO THE FfNLYCIAL STATELlfENTS for the perlod ended 31 March 2024 {¢OD(inucd) 2. CBARITABLE EXPEIYDrruRE 2024 2023 Grallts to individua]8 Grants to institutions 69.730 l47,750 65.787 143,325 217,480 209,112 Support costs S¢¢reiary'y remuneration Payroll niaintenauce costs 'lelephone. sthtiouery and sundry 12.051 84 1.881 10.883 81 1.806 14,016 12,770 231,496 221,882 Durin8 the year 8r8nts to itknti'viduajs have beert mfAts 88 follo3.. 2024 Total Number 2023 Total IYuJDber Clothing and furniDJre Convalescence and bolidoys Dorne51i¥ cquipment Education SocitLI and welfare 158 29.9(N) 29.872 163 36.7CN) 300 2.830 145 32,935 900 2,080 13 335 69.730 320 65.787 Grants Io illstiiutions hav¢ b¢en m¥& 85 follm: Accommodlltiort and housing Arts, culrure and buildm8$ ducation and trainillg Health, rnedicine et¢ Holidays and vacNtions Leisu activities Social and welfa Youth activities I l.J(M) 4,000 14 15 43 15 12,500 42,000 11,000 46,500 3,000 7,950 50,500 7,625 6,750 59,(x)O 14 59 72 io 162 147.750 160 143.325 Grants to institutions include payments of £l,(MX) or mor¢ to the following.. Acorns Children's Hospice Alzh¢imer'5 Reseorcb UK ArEllollice Consort Astbma & Lung UK B Music Berrow Cotlage Homes BeyotLd the Horizon Birmingham & StsLihuil Women's Aid (2) 2,000 iO,O(M) cary forward 22,000 12-
W.E. DUNN CHARITABLE TRLST NOTES TO THE FINANCIAL STATEMEYTS for the period ended 31 Mareh 2024 {coDtioued) 2. CllARITABLE EXPENDITURE (continued) brought forward 22,0(X) Birn)ingham Phab cap8 Birniingham Royal Ballet Birniingham Setticment Brain"L'umour Ctmrity British Motor Museu Buds Castel Frorna Newo Care Compton Vemey Creative 291 Hub Criminon UK De&fblind- West Midlands DottTrihy Parke8 Cornmunity Centre EDT Industrial Cade48 Edwar(ts Tru51 Escape Artis Fight for Sight Freya Troundatson Frozcn Light'LTheatre Home from1105Pital Care Horatio's Garden Inter Act Stroke 8upptsrt Ironbrid8e Gorge Muscum Trnst Leukaemia CAre Life Th¢ Lily MAe Foundailon The l.ullaby TnLSt Mary Ann Evans Hospi¢e Mary Stevens Hospice Moningilis Now Midland Air Ambulan¢e Cberiry Motor Neurone Di$¢a5e As1¥110n Muscular Dyyln)phy UK Narthcx Sparkhill NHS SAndwcll & W¢sl Hirmingham- Charity Tnwt Nice Centr¢ lor Movem¢n¢ Disorders NYCGB Natio1 Youth Choirs O¢sophageal Patients A4qoeiaiion Cancer Charily Orthopaedi¢ Institute Otward Bound Tru$¢ Ovacome Ovcr th¢ Wall Peter Le Nlarchant Tntsi Pe Pan Centre Priory Boxing Club Roy Castle [Ag CanLer Foundation Royal National College for the Blind Royal SociEty for Blind Cbild Royal Star & Garter Ryd¢xs Green Methothsi Day Centre SamaritaDs Birmingham Samaritans Stoke on Treot & Newcysde Scouts 126th Birniingham {1" Hjge Hill) Scout5 1. Solihull Group Scouts I. Walsall Wood Group 1,000 1,000 1,000 E,000 i.{)00 1,000 1.000 1,000 I,000 1,000 1,0 1,000 1.000 1,000 I,o(x) l.O(M) 1,000 1,000 1.000 2,000 2.0(M) I,O(K) 1.000 1,000 1,000 l.O(M) 1,000 1,000 1,000 1,000 1.000 1,000 1.000 1.000 1.000 1,000 1,000 2.000 1,000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 63 79,0(X) -1>
W.E. Duyli CHARifABLE TRLTST NOTES TO THb TrILYNCIAL STATEMLNTS for the perlod ended 31 M•Tch 2024 (continued) 2. CHARrrABLE KXPENDITURE (conlinucd) brought forward 63 79.(X)O Sh&k&8peare Hospi(x Solihu]I Indoor Bowls Club SSAFA the Ar]ned Forces Chariry St Gabriel's Centre Si Gi1 Ho.spice Care St Micbael'8 Hospice Si RiGhrdS Hospi¢e Si Thomas of Cautefv Tett¢Dball Str¢¢t Teams Strok¢ A3wiation T&ll Ships Youth TNst Targei Uvarian C8n¢er The Teln8 Tiny Tim's Children's Centre Tough Enough to Care University Hospitaly F.islw House UK Warwick8hire ReminisceD¢¢ Action Proj1 Whizz Kids Willow Woodlands Advenftwe 2,000 i.o(x) 1.0 i.O(Kl 2.000 2,000 2.000 1,000 1.000 2,000 1.000 1.000 1,000 1,000 1,000 5,000 1,000 1,000 1,000 83 Gran18 under £l,O(N) 79 39,750 162 147,750 At 31 March 2024 no 8rartL4 had kn approved bul not yet pai {5 April 2023.. None).
W.E. DifNN CIIARfIABLE TRUST NOTES TO THE FTriANCL4L STATELIIENTS for the period ended 31 March 2024 (C4)ntinued) GOVERNANCE COSTS 2024 2023 Secrethry's remunerdtion PaJToll mainlenAnce c08¢6 T¢leph¢Troe, posthge, sthtionery and sU[ry Accountancy fee Stockbroker's fees 1,339 1.209 1,3ll 4,140 27,454 1,300 3.960 26,546 34,253 33.024 Charged against Unre8tricd Capitsl Stockbroker's fee8 A¢¢ounlan¢y fee Charged againgt Unrcstticted tncome All other 8ovmanc¢ ¢osts 24,708 2,070 23.891 1,980 7.475 7,153 34,253 33,024 REMLryERATIOiY AND OTHF.R BENEFITS None of the Trusiees receives remuneraiion or other benefits from the TTUSÈ. Olle Trus re¢¢ivd reirnburstment for expew inqured i)n behalf of the Chality durin8 the period. (20?3.. One) The Secret&ry io the TTUStee.4 h&8 been the only employe¢ ofthe Trust in the peri(xl ended 3L Mah 2024 and the year o)ded 5 April 2023. The rrynuneration 18 disclosed in Not 2 and 3. STAFF COSTS AND ftJMBERS Staff ¢ost8 were as follows: 2024 2023 Salaries and wa8 Pen8ioa contributions 13.000 390 11,740 352 13,390 12,092 -15-
W.E. DUNN CHARrrABLE TRUST NOTES TO THE FINANCL4L STATEMEYrs ror the period ended 31 March 2024 (continu) STAFF COSTS AND NLTrIBERS {continued) The avcrdge number of persons ¢mploY1 by the tnLSt durD)g the year was &s follows.. 2024 No. 2023 No. INVESTLIIENTS IN THE HMI)S OF LYVESTMENT MANAGLRS 2024 2023 Cost of Investments listed on a recogni8ed Stock Exchange At 6 April 2023 Additions Cos¢ of Sal 4,330.004 1,112,078 (I,064,283) 4,451,272 305,765 {427,033) At 31 March 2024 4.377.799 4,330,004 surplus on revaluaiion Al 6 April 2023 Eliniinaied oo sAle8 Inere8s¢lld¢¢rease) in year 1,119,431 127,165 310,363 1,681,603 (106,552) (455,6201 At 31 March 2024 1,556,959 1,119.43l Mirkel value at 31 .March 2024 5,934,758 5,449,435 Investment8 At Markct Value eomprlsed: Bonds. atld Fixcd Inlcr¢s¢ Equities and Alternaiive A&ts ,195,651 4.739,107 63.5,051 4,814,384 5,934,758 20,953 5,449.435 244,053 Uninvested c&4h 5,955,711 5,693.488 All inve8ttnen¢ assets were held within the UK. At 31 Mh 2024 the Trust eld one inve8tslleni individually ryre8entin8 iti ¢xeess of 50/• of the total value of th6 Portfolio.. 61,000 Orditiary 5p shares in JP MorEan Global Growth & Fncome PLC £340,990 The fair va]ue of listed infvesttnellts is drmIned by reference to the quoted price for identical &ts in an active nwket at the balance sheet date. 16-
W.E. DUPIN CHARfTABLK TRLST NOTES TO THE FL¥AFiClAL STATEMEyrs for the ptrlod elhded 31 MJr¢h 2(124 {cootinued) INVESTMENTS IN THE HANDS OF TmENT TrNAGE1S {continued) AU nveStMents are carried at their fair value. Investments in equities atsd fLKed interest s¢curitie6 are all traded in quoted public mark¢ts, primarily the London Stock Exchange. Holdings in common investment fi8. unit tru8ts and open<nded investrnent cornpalkies are at the bid price. Th¢ basis of fair valuc forquoted itivestmenL8 is equiva]ent the madt VUe, using the bid price. Asset yales alld purchase8 gre rwised at the dale of trade at ¢081 (thai is their transaction value). The main to the c(Y from fun¢Tl iti8tnuDeoL8 lies in the combinatioll of uncertain investment markets ¥nd volattliiy in yield. The Charity is r¢lian¢ on dividend yield 10 fllwiGe IL¥ Work. Liquidw risk is tiCipated to be low as all wets are traded. The ChariWy investments are mainly traded in markets with gix)d liquidiiy and high trading Volum The Charity no moterial inveselli holdings ID markets subjeet Lo ¢xchange controls or trading restri¢¢ions. The Charity man4es ¢ts¢ IntrgnI risks by ttthinillg expert advisors and opera¢ing an invc4tsnLmtpolicy that provid¢y for a high degrtt of div¥tsifi¢ation of holdings within investtnent cla&ses that pr¢ quoted on recognised slock exchAn8es. The Chan'iy docs noi make use of derivatives and 5imilor complex fillallciai AtL4tnllnents &8 it take$ the Yiew that IveStments are held for their longer rnI yield total return Atsd t]i.giOriC Studies of quoicd financial itL$uuments lthve shown ¢htti volatslity in ally particular 5 year peri¢xl will norn)ally be corrected. 7. (yfHKR INVESTMEYTS 2024 2023 Co8t of Investments listed on a Tecognised Stock Exchange Ai 6 April 2023 & 31 March 2024 26.128 26,128 Surylus on VAluatiOn Al 6 April 2023 InO8¢j(dea8e) in year 13,0681 1098 (1,589) (1,479) At 31 March 2024 (1.970) (3,068) Market vale At 31 M*r£h 2024 24,158 23.060 8. DEBTORS 2024 2023 rueAL incoo 17-
W.E. DUFIN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS lor the perlod ended 31 Mareb 2024 (¢ontioued) 9. LIABILITIES.. Amounis falling due within ODe yr 2024 2023 Sundry cr¢ditors 11,494 10.982 10. STATEMFNT OF FUNDS Brnught Fonvird income ExpendItre TrAnJfers Gainjl Carrled Inlout (Louu) Forward Unrestrlcted Trnds Income 26277 226J29 (238,971) 13,635 Capithl 5,705,156 (26,778) 281.320 5.959,698 Total of Fundy 5.731.433 226 J29 (265,749) 281,320 5.973,333 2023 0,193,730 229,227 (254,906) (436.6181 5,731,433 11. ANALYSIS OF ASSF,TS nF.TWEEN FUNDS Ac¢umulated IA¢ome C*pffit Total Investments in hand8 of Investment Manager8 5,934,758 Other ini'estments 24.158 Funds itl hands oElnvestment Matta8ers 782 Debto Bank banCe? 5,934,758 24.158 20,953 20.171 4,958 4,958 5,959.698 25,129 5.984.827 LiAbilities 11,494 11,494 5,959,698 13,635 5.973,333 l8-
W.L DiTf4Iy CHARrrABLE TRUST TriOTES TO THE FINLYCIAL STATEMENTS for the perlod ended JI March 2024 Iconiitiued} 12. RELATED PARTY TRAf*SACtIoNs DuTing the year the tDJSt paid £2267 (2023.. £2273) in re8Ftct of otTice rental and lephOlle. to The Davenport Hom&s, a Inl of which D. Comey. trtee, is also a wstee. At the year end there is an acc1 for Th¢ Daveuport Horn of £247 (2023.. £263). Dunn8 tbe year expense8 werc reimbursed to tNstees to the value of £165 (2023.. £150). I3. FINANCIAL INSTRUMENTS 2024 2023 Financial a98ets n)easured ai fair valu¢ through income and expcnditure.. Inve6ttnents Bank balance$ Debtors 5,979,869 4,958 5,716,548 25.867 5,98l.825 5,742,415 19-