W.E. Duyli CIL4RITABLE TRUST
FIP*AP*CIAL sTATE￿IENTs
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 T￿￿tee8 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￿ Su1￿COmi￿1ttee 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 a￿OUnt 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 M￿age￿Iellt
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 Tn￿lee8
exccpi that there is power for a sole TrllS￿e to act. subjcci to any express
8tstutory provision to the contrary. Thc exisDn8 TnIS￿e$ 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 cOn￿UllI[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"n￿l. They also
meet those re￿O￿31b1¢ for inv¢stm¢n¢ ond 4ccounling d¢cision8.
They ar¢ made awarc of the lime they should exp￿1 to gpend working for tbe
Trust and the respon$ibilitie8 ¢hai Tr￿S￿eship inyolvcs. They becotne
signatories of the batth dCeOUllt8 and wb¢u all the fortnali¢ie5 are complete
they &re welcomed a8 thlly worknng Tn￿le¢s.
Rljk Mantt¥ement
The I'nislees have reviewed the risks 10 wbi¢h lh¢ Tr￿l 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￿¢￿n￿LIttCe meets weekly, or as
required and reports its activilies and a summary of its de¢i5Aon8 to the
full body of Trustees at each Tr￿￿tL￿8. 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 T￿￿te¢S have appointed an Investment su1￿COMmitt¢¢ of two of tbeir
mimL*r. 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 InveS￿ent Managers wiihin the Tru5tee5' overall itiveSt￿ent policy. li is
the curra]t policy of this sU￿COmmIttee 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 Su1￿comMittee 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 Tft￿l 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 fUll￿e activitie&. In particular, the
Tn￿teeS 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 rn￿k￿g this decision the TrUst￿S 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 qu￿￿lY ￿￿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￿$¢ of £438,6?6 (2023: d1£re￿ 01£563.651) in the markei value
of invesl]nents held at 31 MaNh 2024. The Tr￿tcL5 arc of the opinion tha¢ the Balance
Sh¢¢t discloses FLuth adequate for the pwpose of fidfillin8 th¢ obligation5 olthe Trt￿L
Note 2 to the fJnanGial statements provides fvrtherdetsil on the grants
award￿ by the Trusi. DurllLg thc period, th¢ Trust made 335 grants to
tndiTriduals tolalling £69,730 {2023.. 320 grdnts totalling £65.787I and made
162 ￿all¢S to io$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 disC￿lo￿ary 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 &W￿ded.
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 Tn￿le￿ to
preparc f￿￿1¢1￿1 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$lee8 ar¢ required to:
(a) select sllitable aecounting poli¢ies and apply thcm COnsi8￿ndy1
(b) ob8erve the methods and principals io the Charities SORP.
(cl make judgements at)d eStiM￿e$ that are reasonable and prudenL
(d) stale whetber applicable a￿oUnting st&ndArdq bave be￿ followe
gubje¢l ¢0 any tna¢¢rial depJrtUTes d1￿105Cd 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 T￿￿tee8 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 fu￿claI 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￿£1*e
It is my respoo8ibiiity to:
examine the fIt￿ClAi stateM￿ts und¢r ￿tion 145 of the 2011 A¢L
to follow the procthw i&id dovrn in the general Dir￿tionS 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 re￿rt 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 0￿rd 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 sta*ments 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 ￿xpen￿lIllre} before
Inve9tment RAlni
(12,642)
{26,7781
(39.420)
(25.6791
Galn8llLo8se8) Investmettt$
Realibed
u￿e￿i$¢d
(157.3061
438,626
(157,306)
438.6!6
127,033
1563.6511
281.320
281,320
1436,6181
(12.642)
?54.542
241.91K)
(462297)
Transfer between fimd¥
NET MOVEMEIYT I1¥ FUNDS
(12,642)
254,542
241,9
1462,2971
Total fund$ 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 IP*WESTIYG 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'll*G PLRtOD
(20,909)
1,220
Cash and ¢th equivalents ai the be81[￿ing of the reponin8 peri￿1
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
cu￿ent 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 sTATE￿NTs
for the perlod ended 31 ￿Tarch 2024
l. Sujnmary of significant 8eeountlllg PoUd¢g
(a) Gener81 InfOr￿￿tiOn 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]wil￿5
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 ACc￿t¢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 Sta￿￿en18 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 prepa￿d 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¢ di￿￿tion of the
tru8tees in furtherance of the genernl objectives of the charity and
whicb Imve Dot IKen d￿l80aled 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￿ in￿eS￿[Le￿I malla8ement Costs incurTed
within a 8¢heme with [Ca￿nable 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$ed w tho cffwiive in￿re$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. Expendi￿re is reco8lliged where the￿ ts a legal or constructive
obligaiiort to make pa￿ell￿ 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 a￿1$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 Ex￿ndi￿re.
(Il'l'AX
The ch8riiy is ¢xempt ¢￿￿Tity within ibe mealling of schedule 3 of the
ch￿itIeS Act 2011 and 18 ¢onsider¥xl io pa58 ihe ies(s sei oui in Paragrap
I Scliedule 6 FinanLe Act 2010 god th￿efOrE 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 i￿trUMents
The Charity only has fllwi¢ial a&8ets and financial liabilities of a kind that qualify
as basic finanGiAi insthjments. Basi¢ r￿OnClai I￿Stnuncnts ate initially recognised
al transaction value and 8ubsequently ￿e￿d 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 follo￿3..
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 ca￿p8
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$¢a5e As￿1¥110n
Muscular Dyyln)phy UK
Narthcx Sparkhill
NHS SAndwcll & W¢sl Hirmingham- Charity Tnwt
Nice Centr¢ lor Movem¢n¢ Disorders
NYCGB Natio￿1 Youth Choirs
O¢sophageal Patients A4qoeiaiion Cancer Charily
Orthopaedi¢ Institute
O￿tward Bound Tru$¢
Ovacome
Ovcr th¢ Wall
Peter Le Nlarchant Tntsi
Pe￿ Pan Centre
Priory Boxing Club
Roy Castle [A￿g 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" H￿jge 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 TrILY￿NCIAL 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 RiGh￿rdS Hospi¢e
Si Thomas of Cautefv Tett¢Dball
Str¢¢t Teams
Strok¢ A3wiation
T&ll Ships Youth TNst
Targei Uvarian C8n¢er
The Tel￿n8
Tiny Tim's Children's Centre
Tough Enough to Care
University Hospitaly F.islw House UK
Warwick8hire ReminisceD¢¢ Action Proj￿1
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 Unre8tric*d 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 Ma￿h 2024 and the year o)ded 5 April 2023.
The rrynuneration 18 disclosed in Not￿ 2 and 3.
STAFF COSTS AND f*tJMBERS
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 ¢mploY￿1 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 M￿h 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 d￿rmIned 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 Tr￿NAGE1￿S {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 fi￿￿8.
unit tru8ts and open<nded investrnent cornpalkies are at the bid price. Th¢
basis of fair valuc forquoted itivestmenL8 is equiva]ent ￿ the mad￿t
V￿Ue, 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 fu￿n¢T￿l 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 inves￿elli holdings ID
markets subjeet Lo ¢xchange controls or trading restri¢¢ions.
The Charity man4es ¢ts¢￿ In￿tr￿gnI 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
I￿veStments 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
In￿O8¢j(de￿a8e) in year
13,0681
1098
(1,589)
(1,479)
At 31 March 2024
(1.970)
(3,068)
Market val￿e 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 y￿r
2024
2023
Sundry cr¢ditors
11,494
10.982
10. STATEMFNT OF FUNDS
Brnught
Fonvird
income ExpendIt￿re TrAnJfers Gainjl Carrled
Inlout
(Louu) Forward
Unrestrlcted Tr￿nds
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 b￿anCe?
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 In￿l of which D. Comey. tr￿tee, is also a wstee. At the year end there is an
acc￿1 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-