W.E. DUNN CHAIUTABLE TRUST
FINA￿cIAL STATENfFNTS
YEAR ENDED 31 MARCH 202S
ChArlty number 219418

W.E. DUTr4N CHARrrABLE TRUST
REPORT OF THE TRUSTEES for the year e￿ded 31 March 2025
The Tru5tecs pr¢8¢nt their Rwrt for the year eDdd 31 March 2025. The
T￿￿tee8 hai'e adopted the provisions of the St8tetll¢nt of Recommend
Practice ISORP)'Aeeounting and Rep)niog by Chotitieg, IFRS 102) in
preparing the annual report and f￿anCial sthtements of the Charity.
The finattciel statements have been prepared in accordance with the
accounting ptslicies set out in Doles to the accounis And cornplv with the
Clwity'f governing documen4 the Charities Act 2011 at￿ Aeeoullting and
Reporting by Chariiies.. Staiement of R￿o￿t￿llend￿l Practice applicabk to
charities preparing their accoullts in accordance with the Trinancial
Reporting Standard applicable in the UK and Rcpubbc of Ireland published on
16 July 2014.
Reference and Adminljtratli'e Inforniatlo
The TnLqI is regi8ler¢d with the Charity Conllni&8ion. re8tstr&¢iou Dumber
219418. Tbe Tru.81 has beeTJ aceeptcd 85 a Chariiy by H M Revenue and Cusioms
and Nuch its in¢ome and capital 8aiDs at¢ ¢xempt from thxalAOn.
Trustees
The I'rustees who s¢rvcd during ihe year wer¢:
David J Corney - CELairnwi
L¢ita11 Smethur81
Ra¢hel J Itardy
Alan H Smith
The day to day admi1￿8￿all0rt of Tn]st is wried out by Mrs Mary Touhy.
Shc is the TTh.81's one employee. and is emplo>'ed on a par¢ time basis. She AcL4
Secretary to the Tru51ecs and to the Grants Su1￿coMMI[*< and is TesFrf)nsible for all
grant appliialion5 and procl￿8]ng of all a¢¢ounting records. She may be contacted at
Nts.30 El¥ntley Heath co(￿8c5. Tilchou8e Green Lane. Knowle, SolihulL
West midlan￿ B93 9EL, which is offi¢ia] address olibe TnJsL
Independent ExAminer
The'l'wstees haTr'e detem)ined th&1 an ind¢petthnt examination of the TTUSt'8 finan¢ia]
ststement8 is required this year attd have appointed Shona Cuilei Bsc (Hony), FCA TEP
of Shona Cutler Limited Chartered Accounrants. Grov¢ Fa￿ Bungalow, Lineomb.
Stourport on Sevem, Wor¢¢6tershire, DY13 9RB.
Other Advisers
The Tru5tces operate a bank account with Lloyd5 Bajjk PIC of Units 2 & 3 C&xton Gate.
36138 New Strect, Birniingham B2 4LP
Legal advi8ers to the TThLSt￿4 arc DWF Li2 Solicitors of One Snowbill,
Snow Hill QueeiLSWE4y* Bxnllinghk￿, B4 6GA.
StTUCtur4 GovernAllee and m￿agement
Goyernlng Dorument
The TnESt was created by a Deed of Sett]ement dated 28 July 1958 by
William E(h￿ Dunn. The Tnjst colltinu¢s to be governed by tl)is DectL

W.E. DUNN CHARrrABLK TRUST
REPORT OF THE TRUSTEES Cor the year ended 31 ￿laTCh Z025 (continued)
Coverning Document {contitiued)
The Tn￿tte5 are ejllpowered to bold tbe Tn￿l Fund and the ill¢ome therwf
for the benefit of such charitable instiNUOllS or objects as tbe TnLStees iti
their ab501ute discretion sele¢L
RecrMltmeDt and AppoiDtsnent of 'l'rus¢ees
Thcrc are no provisions th the TNst Deed in respect of the numberof Trustees
¢xc¢pt th&t there is wwer for a sole Trustee io aci, subject to any express
81atulory provision to the contrary. The existing Tru5*¢5 have power to
appoint new Truytets. Thcre i8 no requjremeni for auy Tru5tr¢ to retire
seek re-appointment. Th¢re att pr¢sently four Tn￿ree8 and changes occur
infrequentiy.'fhe present TnJs¢¢&8 are members of the local conimunily who arc
in gympathy with the aim8 of the Trust. The TnLStees are local people of
expenence iniegrity who in their differ¢ttr wayg add w the t￿$￿3 activities.
Prospective Truste¢8 ￿ invired to tneei fellow Ttusttts and the
administrator and observe th¢ various meeiingy in which they u'ill b¢
involved. They are provided with copics of the Trust Deed and other
ittfojillalion relating to the aims and adniinisiratioa of th¢ TTUSt. They also
mttt those respon8ible for invest]nent and accountin8 de¢i$ions.
They are made aware of the ttme they should expecl to spend working for th¢
Tw$1 and the responsibilities thai Trusteeship involves. They become
signatorie8 of the bAryk accounts and when all the fomialitie8 are complete
they are welcomed &8 fijlly workiog Tn￿tee8.
Rffi$k Min4%¢menl
The TNstees hav¢ r¢vicw¢d th¢ risks 10 ivhich the Trnst is exp08ed. They
cunyider that the only major risk is the p055ibility of a lois of capital &$
a result of a failuTe properly to control the invsslments of the TrusL
Syytems hove been ¢slablished to miu8ate this ond Od￿r tisks.
OrgaDllatlonal Structure
All Inali¢￿ of policy and management of the Trust are d¢tem)ined by the
Trustees at th¢ir regular meetings, w'hicb currently takc place four time8
each year.
The Trustees have appointed & Grants Sub-committ¢e with a quoNm ofnvo
persons con81Sting of one or more of their rtumber tog¢ther with the Secretary
to the Trnstees.'fhis sub-committee bas beeu given the power to approve granls
within ¢ertHit) specifled lunil8. 1.he sub-commi1￿ meets Iveckly, or
requiTe(L and rewrts its activities and a Summary of its decisions to the
full body of Trustees d( eaGh Trustees, meeting. The present members of the
sUb-com￿Ittcc are Mrs Smethur81 and Mr Smid4 and Mary Touhy who
acts as Secretary to th¢ sub-committee. Each of the other T￿￿1￿ attend the
meetin85 of the Grattts CommiUe¢ on a roth basis when availabl¢.
Th¢ TnLSt¢es bave appointed an Investment su1￿co￿ltte¢ of two of their
nurnber. This sub-co￿ty1¢￿e has been givet) the responsibility for advising
the Trustees on all aspects of investhieni policy and monitoring the work
of the InYe8tJnent Mana8crs. Canaccord Genuity, oppTrinted by the TrustetS.
It has been given the power to 8ive illstructioDS to ¢he InvestDLent bianager8
withitk the Tru8tee8' overall investmentpolicy. Ii 15 the current p)IA¢y of this
sub-co]nmitte6 to meet wlLell necessary but at least twice each year. It is
required io report its activities 1(> th¢ flall body of TTUStees ai each Trusiecs,
eeting. The prcsent memlxrs of this sulKommitt¢e ar¢ Mr David Corney
and AiatL Smith.

W.E. DUf*N CHARrrABLE TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2025 (continue
Objeetive5
It is the aim of th¢ Trustees, both prc5ent]y amd An tbe fuwre, to nMximize
the inwme, ¢onsistent with the wish to rnaintsin the real va]ue of the
pennaneni elldowment of the Trusi in order lo grant as much &q possible. 48
quickly &4 praGti¢abl¢, lo charitable Institutio￿ or to n￿lY individuals.
The Trustec3 have referred to tbe guidance conth1n￿ in the Clwity
Comtniuion's general guidance OD public b¢n¢fil when rel'iewing the Charit)Is
aitns alld objeeti%'es and planning fijture activits&s. tn parri¢Ldar. the
TNstees have ¢on$￿ered how planned activitits will contribute to the aims
and obje¢tive4 seL
Grant MBklnE Policy
It is the policy of the Tru8¢Ks at the first rntttillg of Trust¢es in each
fmancial year ￿ deterniine how much is to be av&ilable for thc making
of grants. In making thi.8 decision (b¢ Trus¢tts follow their re9erves policy
which is lo restrict the reiention of its r¢s¢rv¢s to thc iotsl of la)
8rants already approved bu¢ not paid Lmtil ccrtain spttir￿ c4mdi¢ions have
been met and (b) a workfft8 capital Tequirement not exceeding thc budgeted
pport a[￿ governance expeft￿s of the Trn81 for the year. The amoun¢ held
4131 March 2025 did not excttd this l¢v¢l.
The Grants SU￿coMmIttee is ejnpowered ¢0 approve 2nd rnake grants thtDughout
the ye8r up to the limii so r￿ed. Other grjnts lo insriwtiOll8 wlll be
m8d¢ by th¢ TnL8lees at their quarterly meetin8 UP ty the limits fix
Aehlevements, Performance And Fiu•N¢knl Revftw
The fmatwial stalcmcnts for the year di8close the dethiL8 of the financial transacuons.
It will b¢ seen that after distribution.s and SUPkK>n and BoiternAnc¢ expense5, rhere
was a Surplus ol incom¢ of £9,!?9 (2014 dcficit of income ot £12,642).'1-li¢ undistributed
ittcome ai 31 Mar¢h 2025 amountsd to £22.864 (2024.. £13.635).
Duiing the year a105s of £54,79012024.' a loss of £157,306) was rea]ised on investments
wld ond Iher¢ was an incrEasc of £53 ?42 (20ry4.' increase of £438.626) in the market value
of investni¢nl$ held al 31 March 2025. The TrtLStecs 4re of the opillion that Ihc Balance
Sheet d￿close9 fund8 dequate for the purpose of ￿lf11bA8 the Obligatio￿ of the TrusL
Note 2 to the fllwlc1￿ statement$ PTovides fvrtberdetail on the gr￿(3
awardcd by the Tru81. Durtng the year, tlie Trust made 228 grants
indii'iduals totalling £55,190 {2024.. 335 grants toijlling £69,730) and madc
158 grants to it1SÉl￿tIons totalling £151.1)00 (2024.. 162 gran¢s tothlling £147,750).
tnvestment Pojicy
The Trust Deed impose8 no restrictions on the inve8tmeDt wwers of the Tnwe¢$.
The Trnstees have apprDved invGslnieDt wTrlicy that reqlli￿ the pr￿luCtiO
of an adequate income return C0tt515tent with a requinment io n￿Intain the real
value of ib¢ ￿pIts1 of the TTr￿1 usiti8 a Mediu￿ risk ¢riteri& The level of
riyk reflects the 8sg¢t allo¢ation used within the overall portfolio and not
the risk attached to each individual investment. The Ttustees opernte an
thical investmentpoh'cy alld do not iiivesi in any company wllich is involved
An gamblillg, tobacco prrMlu¢tion or distribution of pornogrdphy. The TnLSte&
have appointed Canatcord Gelluiiy Weal¢h Managemenl Slip How,
Princes Drive, Worcesier, WRI 2AB to acl as frAve8tment M#naget5 to the Trustees
on a disff¢tionory basis.

W.E. DUNN CHARrrABLE TRL'ST
REPORT OF THE TRUSTEES for the yethr tnded 31 March 2025 {conttnued)
Re5erve8 Pollcy
The reserves policy 18 to restrict the retelltion of [￿￿eS ty the total of
(a) graois already approved but not paid until certaill sp¢cific ¢onditsons
have been m¢t, of which th¢r¢ was one this year of £5,000 (2024: non¢) and (b) a working
capit&l requiremtht no¢ exc¢¢ding thc budgeted support and 8ovcrnallce expenses of the
tn￿l for the year. which in this year aTuount¢d to £22,713 (2024.. £21,491). The anLOUttL
held at 31 March 2025 of £22.864 did not ex¢eed this level.
Plan8 for Future Perlods
The Trustces plan to continue their policy of rnaximising the Th￿t'S income
with a view to at least mainthiniTJg the level of grants awarded.
Stitement of Trusteu, Re8ponslbllltlu for the flnMDelal 5tateJnents
The Trn$te¢8 are responsible for prcparing the Truslee8' Report and the
fmancial 5taiements in &¢¢ordan¢¢ with 8ppli¢abl¢ law alld L'ni*d Kitigdom
AccountirAg Standards (United Kingdom Gen¢rnUy Accepted Accounting Practice).
The law 4ppli¢obl¢ to Charities in England & Wa1&8 require6 the Tnste¢s to
prepare financial siatem¢nts for each fmancial year which give a and
fair view of the stste of the Tw$i's atrairs 4nd of the In￿1￿ rewurces
of the Trus¢ for that penod.
In preparing these finattciAI Statements. the Tntstees ate required to:
14) 8el¢ct gJithble ￿oUntin8 policie8 and Apply them ¢on81s¢erttl￿.
(bl observe the methods and prits¢ipals in the Cbarities SORTr,.
(¢1 mak¢ judgements and e8rimai¢s thai are reayonable and prndenE
(d) state wlther appli¢8ble ￿￿OUntIng s¢aDdaTd8 have been followed,
8ubjxt to any material dep8rnir¢s di8¢105¢d JDd explained in the
financi41 $latem¢rAts' and
(el prepare the financial 4tatcmcnts on J gotng concern bASiS unless
it 18 considered inapproprialc to &￿UM¢ ¢hat the Tn￿( will coniinue.
The TnL3te¢s are responsible for keeping proper aceounling rccor(Ls that
dtsc105e with reasonabl¢ a¢curncy at any time the financ￿1 rrt)si(ion of the
Trust enable theln to elL￿e that th¢ finaa¢ial slatements comply with
thc Charities A¢¢ 201 I, tbe Charity (AGcowits and Reports) Regulation8 2008
and thc provi8lODS of the Trust Ike41
The Trustees Are also re8POll3ible for Safeguardi￿ the a&qets of the Tru8t
and for takn'ng reusonable Steps for th¢ PT¢v¢ntion and detection of ￿ud
and oth¢r irregulaTiti¢
Approved by the Trustees oll 2lld Ottober 2(125 slgned on thetr
behalf by:
D.J. CORI%EY

INDXPKNDEffi EXAMtP4ER'S REPORT TO THE TrUSTEES OF
W.E. DtTr1Tr4 CIIARrrABLE TRUST
I report on the financial statements of the Ch&rityfor the year ended
31 March 2025, which ore set out OrtpagG8 6 to 19.
Respectlve respollslbllltles of Trustees Examiner
The Charity8 Tn]stees are resEK)nsiknle for the preparation of the Financial
8ts¢ements. The Chariry's TnTStees consider that att audit is not r¢quyTed
for thi8 year under s¢¢tion l44(2) of thc Clwities Aci 2011 (the 2011 Act)
aud tbat all independent exomination ig needeiL
It is my re8poosibiJity to:
examine the financial st4t¢tll¢llts under section 145 of the 2011 A¢¢
to follow the procedures laid down iti th¢ geDerBI DireclioDs given by
the Charity Commission under sxuon 145(5Mb) of the 2011 Act,. aud
to slate whether porti¢tslar mAt*rs have come to my attentio
Basi8 of the Independent Examlner's Report
My examination was carried out in a¢¢ordance with the general Direction5
given by the Chariry commi￿10￿. An txatnination includes a review of th¢
counting re¢ord8 kept by the Chariiy A comp￿ls0n of thc fuwicial
8tstementi with th05¢ records. li also includes considLYation of any
Unusu￿ itcm$ or di8elosur¢s in th¢ financial s(aiements and seekin8
explmation3 from you as TnJstee$ of any su¢h mattors. The procedures
undcrtakcn do rtot provide all the evidence that would b¢ r¢quircd for aTr
audit ond con8equ¢n¢ly no opinion is given as th whether the financial
statement8 preseni a'true and fair Vie￿ and the report is limited to those
tnattLr¥ set out in rhe ststejneni below.
Independent Examlner'$ sts*m¢ttt
In CODnection with my exomination. no matter has come to my attention:
wILich give$ me rewnabk ¢avse ¢0 believe that in any n)Aterial
respect the requirements
to kc¢p ac¢ounling re￿[￿1 in accordance with ￿tIon 130 of the
the 2011 Act.. and
lo prepare financial stslernents which accord wtth the accounting
Te¢oTds and ￿ comply with the accounting requirements of the 2011 Act
have I￿t been or
to which. in my coin10￿ attention 5bould be (lrnwn iA order ￿ enable
proper unders¢andiag of the fLnanciai Sta*￿entS to re￿￿1.
Shona Cutler Bse {Holl8), FCA TEP
Shona Cutler Limited
Grove Fann BLm8alow
Lineomb
st0ur￿rt on S¢vem
Worcestershire
13th Oc¢ober 2025
DY13 9RB

W.E. DUB4N CHARITABLE TRUST
sTATEL￿ENT OF FtNANCiAL ACTIVITIES for the year ended 31 March 2025
Unrestrlrted Funds
YeÈr to
31 TrIarch
Z025
TotAI
Period i
31 Marc
2024
Total
lll¢ome
Capltal
INCOME FROM
Investtnent income from:
InYe8tments in
hands of Ini'estsnent Man4ers
Other investments
237,440
692
237.440
692
225,789
540
Tot41 Income
238,132
238,132
226,329
EXPF.YDITURE ON
Cknilable activities Inoi¢s 2 & 3)
228,903
27,754
256.657
265,749
Tfj¢al Expendlture
228,IK13
27,754
256,657
265,749
Net T￿Come l (F,xpendllurt) before
IDvestTn¢nt galn5
9,229
(27,7541
(18,525)
(39,4201
G8lrAsl(Losses) on Investments
Reali¥ed
Unreaiised
{54.790)
(54.790)
53.242
(157,306)
438,626
(1.548)
{1,548)
281,320
9,229
(29,302)
(20,073)
241,900
Transfer betw¢¢n funds
NET MOVEMEE4T IN FiJNDS
9.229
(?9J02}
(20,073)
241,900
Total fmndy brougbt forward
13.635
5,959.698
5,973,333
5,731,433
Tot¥1 lund8 carried forwArd
22,864
5,930J96
5,953.2fA)
5,973,333
The statement of fmaocial activxties iticknd¢s all gains losses recognised in the year.
All incoming resourcG8 and re80Urtes expended derive from continuing operati¢)ns.
The notes on pagas 9 to 19 form part of these financial 5ta*ments.

W.E. DUNN CHARITABLE TRUST
BALANCE SHEET at 31 March 2025
2025
2024
Fixed A&8ets
Investments
In the han(L8 of Inyestment Managers (Note O)
Oth£r3 (Note 71
5,926,260
24,785
5,955,711
24,158
5,951,045
5,979.869
CU￿Ent Assets
Debtors (Note 8)
Bank baiances
13,890
4,958
13.890
4.958
Li&bilitie6'. Amoullts falling
due within one year (Noie 9)
11,675
11,494
Net Current A￿ts l (Liabillu￿)
2.215
{6.536)
Nel A880t8
5,953,260
5,973,333
Funds
Unrestricted
Capitsl
Accumula*d income
5,930,396
22,864
5,959,698
13,635
Total Fund8
5,953,260
5,973,333
The notes on pages 9 to 19 folm PArt of these fjnancial 8tstements.
The fjnancial 8tAtements on page9 6 to 19 were approved by the Trustees on 2t￿ October 2025.
D.J. CORNEY..-..-.........._.._........_.................-.-..-..--..........-....-.-.......-
L.H. SMETllURST..-........_--.......-.-....----......--.--.................................
R J ￿y.................---.......--.-........-.-......---..--....--.....
A H SMrrH...-...-......-.--.-.-....-..-...-....-...--........-......--.-..-..---...

W.E. DUNTrI CHARTIABLE TRUST
STATE.IIENT OF CASHFLOW for the year ended JI March 2025
2025
2024
CASIIFLOWS FROhl OPERATING ACTIVITIES
Nei moTr'eTnetLt in furlds
ttti'estrnent (gain5)110&ses
Decrease l (itierea8el in deb¢ord
tncrease l {decreasel iti ereditors
Le&5 investment income
L¥¥¥ inter¢&t iu¢ome
(20,073)
1.548
241,900
(281,320)
181
(238.1321
512
(226 J29)
Net cash provlded by l {ustd In) operating ac11￿￿
{256A76)
(265237)
CLSHFLOWS FRO.M ￿1VEsTING AcfiviTIES
Purchaqe of shares
Proceed8 from sale of share8
LllV¢Stm¢TLt in¢ome
Interest ineome
Dwrcase I Ilncre&8e) in cosh held by Invesimellt Manager8
(243,7811
267,103
238,132
(1,112,078)
906,977
226,329
3,954
223.100
Net cash provldcd by l (ujed In) Investln% actlvltl¢$
265.408
244,328
CIIAN(:F, If* CASII AYD C.ASII EQUIVALENTS IN
THE REPORTING PLIUOD
8.932
(20,909)
Cash and casb equiyalents at the begirtning of the reportin8 period
4,958
25,867
Cash and cisb equlvnlents al the end of the reporthi% perlod
13,890
4,958
ANALYSIS OF CASH AND CASII EQUIVALEIYTS
Current account
Short tern] dwsiiy
13,890
4,958
Total cgyh #nd e¥sh tqulY&lents
13,890
4,958

W.E. CHèlIUTABLE TRUST
r*OTES TO THF. FLYANCIAL STATEMENTS
for the year ellded 31 MaTch 20254
l. SumrnAry ofsignificant o¢¢ounting Policies
(#) Celltrat inforrnatlon And basls of preparndon
Thc W E Dunn CbArilable TnL8t is An uninco￿or8ted charity registered in
Englalld and Wal&8. The addre&s of the office is given ill the Tmstees Report
on page l of these financial ststements. The Daiure of the charitys
pritiGipal llctiviti¢s are the making of gran
The charity consiituies a publi¢ benefi¢ enuty as dcfthed by FRS 102. The
fthaue￿I statements have been prepured in a¢cordance with Accounting and
Reporting by Charitics.. Statement orReco]n￿¢llded Pra¢ti¢e applicable to
to eharities preparing their accounts in accordance with the Fimancial Reporting
Stand8Jd applicable in the L'niled Kingdom and Rq)ublic of [relat￿ IFRS 102)
188ued on 16 July 2014. Th¢ Clwi'ties A¢¢ 2011 UK Generally Aecepted
Prariir¢ as it applies from l January 2015.
The financial staletllellL4 h&v¢ be￿ prepared to give a'true and fai
vicw and have departed from thc ChaTicies {Accounts ond Rq)orts)
Regulations 2008 only io the exteoi r¢quired to provide a Irue an<[ fair
view,. This departure In￿1Ved followiog the Acwunting and Keportin8 by
Chariiies.. Stsiement of Recommended Practice applicabl¢ io charities
preporiug their accounts in Accordan¢e with the Fin8mbial Reporting
Standard applicabl¢ in the UK and R¢publi¢ of Ireland11.RS I021 issued on
16 July ?014.
Th¢ fina￿taL statements are prepared oll a Boing concern basiq under the
histori¢al cost Conveniiou, modified to includ¢ ¢enain iiems at tair
value. Th¢ finI￿¢La1 4tatcments glre prepattd in stcrlin8 ithi¢h is the
nctional and presentational CUTr¢n¢y of the chariry. The f￿an¢14]
statements are rounded to th¢ ne4re5t pound.
The 5ignifJcani &ccountiog policies applied IA the preparntion of these
fmanciAI ststemenL4 are 5¢¢ ou¢ b¢low. These wlicies have be¢n
con5iStently &pplied to all Ye4￿5 prcsented Unl￿ otherwise sts*d.
(bl Fund#
Unre8tri¢ted fulld%' are S￿lIable for u8¢ ￿ the di￿[ello￿ of the
Iru*(ees in furtheran¢e of thE gencrnl objectives ofthe clwity and
which have not been designa*d for otlKr pUry)05￿.
Restricted fvnds are funds which aTe to be used in accordance with
3p¢Gific resiriciions im￿5$ed by donors or which have been raisEd by the
charity for p8rtiaLlar purposes. The cost of rnising and adminisÉerillg
such funds are charged agaiTh8t the specific fijnd. The ¢lwity has no
re8tricted funds.
Endowment fiTnds represeot those &%sets which rnu8t be heldpennaJLently by
the CILarity. The Charity has no endoTrinent funds.

W.E. DUL¥N CHARIT ABLE TRUST
r4oTES TO TIIE FINAn4CLiL STATEMENTS
for the year ended 31 Tr1arch 2025 (continued)
(c) Ineome re¢ogtiition
Atl incoming resources aTr iticluded in the Stathent of Fitwicial ActiNities
(SOFA) whell the chariry is legally entitled to the in¢om¢ after ally
perf0M￿llet collditions have been JneL tbe amount ¢an be reliably
and it is probable thai the inco]n¢ will be rKeived.
Investracnt income is earned thrnugh holding for illvestrnent purpose8
such a8 Shar￿ and propcrry. It includes dividend% in*rest and renL
IlThere it is not pwti¢able to ideniify inveskneni management costs incurred
within a scheme with ￿&SOnable accurdry the investsneni it￿OMe is repOrt￿j
nei of these costs. It is inLluded when th¢ amount can bc me&sured
reliably. tnter¢81 incomc is recogniyed u5tng the elfe¢iive intert%t method
ond dividend and rent income is recognised &s the charity's righ¢ io receive
paymellt 19 uthbiL$h￿.
(d) Expendlture recognltlon
All cxpendiiure is a¢¢ounted for on an accruals basis And has b¢¢n
¢la8&ificd under the he8din88 that agwg8t¢ all wsts related to the
cutegory. Exp¢nditurc 18 recognised wbere th¢r¢ is a1¢8al or con8tNcuve
obligi1tion to make pairynenls to third partiL4 it ts probabl¢ that the
settlcment will be r¢quired And the amount of the obligation can be measured
reliably. It is caiegori8ed under the following headings..
- Expenditure on ¢haritable activities includds 8ranis aworded tO8eth¢r with
the administrative ¢ost$ of operating the chariry.
- Other ¢Ap¢ndi¢ur¢ repreS￿ts those items t￿t failing into the ¢ategorieB
Above. 8u¢h gov¢mance c4)8ts.
Irrecoverable VAT i8 char8ed ?8 an expense against the acrivily for which
expcndilure arose.
(e) Support costs
Support ¢osts ar¢ th08e tha¢ assist the work of the charity but do nol
directly represent charitabl¢ &c¢ivities include remunttation and
administrative payrolt ¢0sts and 0￿1¢¢ wsL8.
(D Governan¢¢ ¢osts
Governance costs Include th08e eosts aw>ciated with meeting tbc
constitytsonal and Sta￿lOry requiren)ents of the charity ond include
independent examination fees and costs linked to the strategic monagement
of th¢ ch&rity.
io-

W.E. DUP4N CHARrrABLE TRUST
NOTES TO THE FINANCIAL sTATE￿IENTs
for the year ended 31 March 2025
(g) Investments
IttvesttneDts are re¢ogni5ed tniti&lly at fair value which is nom)ally the
trat￿tIOn price excluding transacuon costs. Subsequently, they 8rc
me&suted at fair value witb cbang¢s recogoised tD'net' g&iTJsI(losw) oll
invesuncnts, in the SOFA if ttLe sbar&g are publicly traded or their fair
V41u¢ can oih¢nvi8e be measured reliably. Other inve8Dnents atr measured at
cost le$9 impairmenl.
Current asset inv¢strnents are Short tern] hiohly liquid invesrments aud a
h¢ld at fair value. These include ou deposit alld cash e4uivalcnts with
matttrity Of1&￿ than ¢)ne year.
(h) A)eblors and credltor$ re¢elvable/payable withln oue yeAr
Debtor8 und cr¢diioTS with DO Stated interesi rnte and re¢eivable or payable
within one year ar¢ recorded at traosaction price. Any Ios8e8 ari8iog fro
impatrnierti are recogryu4¢d in expendinwe.
(l)T
Th¢ ¢baTily is an exempt chariry within the meantn8 of schedule 3 of the
Chariti¢$ A¢1 2011 and 14 considered (o the tests let oui in Paragraph
I Schedule 6 Finwi¢e Ac¢ ?010 und therefore it meeLS the defthitiott of a
harity tor UK co4x>rntion tLx putwse5.
(J} Goln¥ concern
Th¢ fitwi¢ial sthtements have been prq)ured on 4 Boing concern b88is &* the
tru8tccq believe that no Inuterial uncertaintie8 ¢Xi$t. 'Ilie Iruste¢s have
considered the level of funds held aiid the expeLted level of in¢otn¢ and
expenditure for 12 month5 from authorising these fllwicial st8￿Ments. The
budgeied income and expenditure is suffjcient with the level of reserves for
the ¢haTi(>' to be able to continue ￿ a 8oin8 concern.
(k) Fln4nclal Instr￿mentS
The Charity only has financial ￿ets and finuncial liabilities ofa kind that qualify
basi¢ financial instnunents. B&sic fllwiciaj instruments are initially recognised
a¢ transaction value and subseguently rneasunxi at thcir 8eidement value with the
ex¢¢plion of bank loans which are subsequently m¢asur¢d al amoni5ed ¢08t usin8
the effective ititere8t method.

W.E. DUNN CHARrrABLK TRUST
NOTES TO THE F]NANCIAL STATEMLNTS
for the year ended 31 Marcb 2025 (C4)ntinued)
2. CHARrrABLE EXPEYDITURE
2025
2024
Gfants to indi*i¢knL8
Gronts to insti￿lI0￿S
55.190
151.000
69.730
147,750
206.190
217,480
Support costs
Secretary's remuneration
Payroll maintenance cosL8
Telephtsu¢, poslag¢, Sratsonery and sundry
12.978
88
1.846
12.051
84
1,881
14,912
7.801
14,016
7.475
Other Governance costs (see Not¢ 3)
22,713
21.491
228,903
238,971
During the year grants to Individ￿18 have been made as follow¥.'
2025
TO1￿ Number
2024
Total
Number
Clotliiug and fvrniture
Convale5ccn¢e and bolidays
Domestic equipm¢nt
Educaiion
Social and welfare
114
21,530
158
29,900
30.410
51yJ
2.750
103
36,7(N)
300
2,830
228
55.19)
335
69,730
Grants to Institutio￿ haye been made 0$ follow8.'
Accomm(yJation and houying
Arts. LUI￿re and buildu
Fducation and ￿InIng
Health, m¢di¢ine etc
Holidays and vwation5
Leisure activities
Social welfare
Youth activiiie8
11,5(X)
6,000
12,500
42,0(M)
I,o(M)
6,750
59,000
9.000
10,o(x)
10,51X)
46,51x)
5,500
10.250
51,750
5,500
13
48
40
12
60
72
io
158
151.IK)O
162
147.750
Gra0¢¥ to institutions include payments of £1,000 or mote to the following:
Albrighton Tn￿1
All of Ls Versus Artbritis
Anthony Nolan Tru8t
Artg Therdpies UK
Bentley Begittttings
Berrow Cottage Hotnes
Beyood the Horizon
Binninglmm & Solihull Women's Aid (2)
1.000
1,000
1,000
.000
1.000
5.000
.000
10,000
carry forward
21,000
12-

W.E. DUTr4N CHARITABLK TRUST
NOTES TO FtYANCIAL STATEMENTS
for the year ended 31 March 2025 {continued)
2. CHARITABLE EXPELYDITLIiE (cootinued)
brought fotw•rd
21,000
Birrningham Hospice
Birmingharn Phab Camps
Birniingham Royal Ballet
Bim]ingham Settlemeni
Buds
Canine Partners
C£wers Tnjst
CILild Brain Injury Trusl
Church Pastoral Aid Trust (CPAS)
Ctsmmunity Volunteering Action lthury
Ctt8tiv¢ 291 Hub
Cysiic Fibrosis
Dorothy Parkes CotnmuThi¢y Centre
Dougla8 Macmillan Hospi¢e
Dream IIolidays
Dream Maket5
Edwards Trust
English Heritage
Ellgli8h Syjnphony Orchestrn
Eric- ChildreTL'8 Bowel & Bladder Charity
Fight for SAght
Frozcn Light Theaue
Giving Iland4 fvlission
The Ilaven Wolverhampion
Headway Birniin8ham & Sulihull
Heart of F.ngland FO￿$1
Hom¢ Start %outh Wanvickshire
Ironbrid8e Gorgo Mu6¢um TTUSt
Katherine Ilou$¢ Hospi¢¢
KeLllp EIvspi¢e
Leukaemia Care
Life
Lunch on the Run
Make some Noise
Martitleau (rllrdens
Mary Ann L.van8 Hospice
Mary Stevens Flospi¢e
Midland Air Ambulan¢e Charily
Mot(Trr Ncurone DisEa5e A￿CIation
m￿0￿ H08Pi¢¢
National Chuwbe8 TnL8t
National Memorial Athr￿uM
National Yoiith Ballet
Nice Centre for Movemetst Disorder
NYCGB National Youth Choira
Outward Bound Trust
Papyrus
Peter Le MarchantTtust
Peter Pau Centre
QuEen Alexandra College Birn]ingham
Royal Star & Garter
Samaritans Birmingha
Scouts 126th Birniingham (l# Hodge Hill)
Scout8 2 Bmwnhil]s
2.000
1,000
1,000
I,IK)O
I,{)00
1,000
1.000
1,000
1,000
i.000
I,000
1,000
1.51X)
1,000
1.000
1,000
1,000
1,000
,000
1,000
2,000
2,000
2,000
1,000
1,000
1,000
1,000
2,0(Xl
2.000
1,000
1,000
2,000
1,000
2,5(K)
I,O(K)
1,000
i.o(Mi
1.0
1.0
1,0
1,000
1,000
1,000
1.000
1,000
1,000
63
85,(KM)
-13-

W.E. DUNN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMEyrs
for the year ended 31 March 2025 (contitiu¥d)
2. CIIARfT ABLE EXPEYDTfuRE (wntinued)
brought forward
63
85.000
shake￿eare Hospice
Shrft MS
SOLO Life Opportunities
Spinal Muscular Atrophy UK
2,500
I,1)00
2500
1.000
1.000
2,000
2.000
1,000
Si Michael's Hospice
St Ri¢hard8 Hospice
Street Tearus
Stroke Association
Tall Ships Youth Tn￿t
The Telling
ThomB8 Corbett's Clwity Almshouses
Tiny Tim's Children's Centr¢
Variely thc Children's Clwiiy
Volunte¢ring Nlattcrs
WAlking wi¢h the Wounded
West Midlands Anti-slayery
Whizz Kids
Willow
Woodlands Advenlure
1.000
1,000
1,000
1,000
1,000
1,000
1,000
84
Grants under £1,000
74
37,0(x)
158
1S1,(K)O
At 31 March 20?5 on¢ grallt of £5,000 {?024 .. None) had been approved bui not
yet paid as thE Trnst awaiting futther inforn)ation fro￿ the donee. The grant
ILas bc¢n paid since the year end.
-14-

W.E. DUNLY CHARfTABLE TRUST
NOTES TO THE Fif4ANCIAL STATEMEYTS
ror the year ended JI MArch 2025 (¢onluLued)
GOVERf*AfiCE COSTS
2025
2024
Secretar￿8 remuneration
Payroll tnaintenance ¢05ts
Telephtsne, postage, ststi¢)nery and sundry
Accountancy fee
Stockbroker's fees
1,442
10
1,346
4,320
28,437
1,339
1,311
4,140
27,454
35,555
34,253
Charged against UnTe8triCted Capital
Stockbrnkcr's fees
Accountancy fe¢
25.594
2,160
24,708
2,070
27,754
26,778
Charged against Unre8tri¢ted lllcome
All other governanc¢ ￿8[6
7,801
7,475
35,555
34,253
REMUNERATION APID OTHER BENEFITS
None of the Trustees receives rcmuncration or other txnefits from the
Trust. One'lnLS(¢e received rein)buTycfflcnt for expenses incurred 00
behalf of the Ctwity during the period.12024.. Olle}
Th¢ Sxr¢¢¥ry ￿ the TnL8tees has been ttw only employee of the Trust
in the year endcd 31 March 2025 and the period ts)ded 31 Ma￿h 2024.
The remutt¢rn(ion is di%losed in Noic5.
STAFF COSTS AND NUMBERS
stsffcosts were a8 fouows..
2025
2024
Salaries and Thage6
Pension contributiony
14.0(K)
420
13,(K)O
390
14,420
13,390
-1

W.E. DufiN clIAR￿ABLE TRUST
NOTES TO THE FIP4Af4CLIL STATEMENTS
for the yeAr ended 31 Marth 2025 {COO¢inued)
STAFF COSTS AND ￿u￿IBERs (wOtiDu￿j
Staff costs were aUocateA as follow8:
2025
2024
Support COSL8 (see No* 2)
Governance costs {8e¢ Not¢ 3)
12,978
1,442
12,051
1.339
14,420
13,390
Thc average number of pergons ¢mployoJ by the trnsi during tbe ye)r was as follows:
2025
2024
INVESTMENTS IN THL HAL¥DS OF INVESTMENT MAliAGFRS
21125
2024
Cost of Inv¢$tments listed on a
recognised Stock ￿Ch￿nge
At l April 2024
Addition8
Cost of sales
4,377.799
4,330,004
243.781
I,Iln,078
(321,8931 11,061,283}
At 31 March 2025
4.299.687
4.377,799
Surplus on revaluation
At l April 2024
Eliminaied on Sales
tn¢rea.%cl(decre&8e) in year
1,556,959
72,260
(19,645)
1,119.431
127,165
310.363
Ai 3 1 March 2025
1,609,574
1,556,959
Mllrk¢¢ vilue Rt 31 M*reh 2025
5,909,261
5,934,758
Investments at I￿arket Value cornpr15ed:
Bon(L8 and Fixed Inierest
Equities and Alternative A&8ets
1,194,387
4,714,874
,195,651
4,739,107
5909261
16,999
5,934.758
20,953
Uninvested ca8lL
5926260
5.955,711
16-

W.E. Duf4N C&lRITABLE TRLST
Tr40TES TO THE FLy￿NcL1L STATEMF,NTS
for the )'ear eDded JI .VAfirch 2025 {coThtinued)
INVESTMENTS IN THE HANDS OF IPIWESTMENT N(ANAGEILS {contitiued)
All investment ￿et8 were held within the UK. At 31 March 2025 the Trust
beld one investment inth'vidu8lly Tepresenting in excess of 5/• of the
totsj value of the Portfolio..
61.000 Ordinary 5p 8bares itt JP Morgan Global Growth & Income PLC £3E9,030
The faIrva￿e of hs¢¢d investrnent8 is detetmitied by reference to the quoted
price for identical wets in an active matkei at the balance sheet date.
Atl investments are carried at their fair value. Investments in equities
and fLxed intrresi securiiies are oll traded in quoted public nwkets,
primarily the LA)ndon Siock Exchange. Holdirlgs in common invesulleni fimtL4,
uuit trusts and open-ended invesmlent companies are ai the bid price. The
basis of fair value for quoted investments is equivalent lo the market
value, using the bid price. A&set sai&s and PUTch&8es are recognised at
the date of trade ot ¢ost (that ig their tran8a¢uon v8]ue).
The niain risk to the Ch&rity from ￿ll￿n¢la1 insttwneots li￿ in the
combiniiion of uncertaio investment markets and Yolatility io yield. The
Cbarity 1.9 rcliani on dividend yield io fitwice its work. Liquidity risk
is anticipated to be low ￿ 811 &￿ets are traded.'The Charitgs
ittvcstm¢nts are mainly trAded iii markets with good liquidity and high
trading volumes. The Charity has no material inNL¥tsnent holdings in
markers subjeAt lo exchange CODtrol8 or trad￿￿ restricriorkq.
Thc Chirity rnlc nages these invosunent risks by rethinin8 expert advisois
and opcrntirtg an investhient ￿]1¢Y that provide8 for a higb degree of
diversification of holdings within invesuneni cl&s5¢3 thot are quoted oll
recognised stock CXGhang¢s. The Charity does noi tnake use of derivotive8
and similar complex fthancial instrurnents as it the iti¢w that
investtnents are held tor their longer terni yield total re￿rn and
historic sNdies olquoted f￿anCial i￿8trU￿e￿ts have Shown that
v(Ilatilily in auy particular 5 year peri(hJ will nOrn￿[[Y be corrected.
7. OTHER INVESTMFNTS
2025
2024
C08t of Investrn¢nL8 listed on a
recognised Stock ExchAnge
At l April 2024 & 31 March 2025
26,128
26,128
Surplus on revaluation
At l April 1024
IncreasGI(de¢re#se) iu year
(1,970)
627
(3,06S)
(1,098)
At 31 March 2025
{] J431
(1,970)
Market value At 31 IIareh 2025
24,785
24,158
17-

W.E. DUNf4 CHARITABLE TRUST
r4oTES TO THE FtYANCIAL STATETrIE.YTS
for the year ended JI MArch 2025 {GoDtinud)
8. DEBTORS
2025
2024
A¢crned income
9. LIABILITIES: Amounts fAlllllg dthe Mlthln one year
202$
2024
Sundry cttditors
11,675
10,494
10. STATEMENT OF FUND8
Brought
Forwsrd
Ineome Eip¢ndlthre Transfers GAIn￿ Carrled
ILoi8es) Forward
Unrestrlcted Funds
In¢ome
13,635
238,132 (228.903)
22,864
Capital
5.959,698
(27,754)
(1,5481 5,930,396
To￿1 of Funds
5,973,333
238,132 (256,6571
(1,548) 5,953,260
2024
5,731.433
226.329 (265,749)
281,320 5,973,333
11. ANALYSIS OF ASSETS BETWEEN FLINDS
Accumulated
Income
Capitsl
Total
Investments in hands of Invest￿¢￿¢ Maaagm 5,909.261
Other investments
24.785
Funllg io hands of Investment Mallagcrs
4.823
Lkbtors
Bank balallces
5,909,261
24,785
16,999
l2.176
13,890
13,890,
5,938,869
26,066
5.964,935
Less Liabilities
8.473
3,202
11,675
5.930,396
22,864
5,953.260
18-

W.E. DUNIY CEtAIUTABLE TRUST
Tr40TES TO TIIE FID4Af4ciAL sTAT￿lE%￿s
for the year ended 31 March 2025 (continued)
12. RELATED PARTY TEL4N$A￿loNs
Dur(ng the year the paid £2,247 (?024.. £2267) in respect of office rent&l and telephone, to Th¢
DavenpcTrrt Horn￿, a trust ofwhicb D. Corney, trw5tee. is a]so a ttustee. At the year end there is an
accrual for Th¢ Davenport Homtrs of £243 (2024.. £247). During the year expense6 were relmbu￿ed
Io ttiJstee8 to th¢ valu¢ of £446 (2024.. £165).
13. FIN￿NcIAL ThSTRULKENTS
2025
2024
Financial asseLg measured at fatr value
through incorne alld expendiiure..
Inve8unents
Bank balan¢¢5
Dbbiors
5.951.045
13,890
5,979,869
4,958
5,964,935
5.981,825
l9-