Rogbstered Chaiity Number 229S79
ThE CHARITbE8 OF JOHN AND
FRANCES WEST FOR PENSIONERS
TRUSTEE'S REPORT AND FINANCIAL
STATEMENTS FOR THE YEAR ENDED
31 AUGUST 2021

The Ch•rltlès of John and Franc•$ W•8t for Penslon•
Trustee's Report
Ye*r Ended 31 August 2021
Christ's Hospital. the corporate Tw81ee body of the Charitses of John and Frances West for
Pensioners (the Charilyl. presents ils Report and aurlhed Financial Statements for the year
ended 31 August 2021. These comply with the governing document8 of the Charity. the
Charities Act 2011 and Accounting and Reporty"ng by Charities.. Slalement of Recommended
Prath'ce applicable lo charities preparing their accounts In accordance wth Financial
Reporting Stsnd8rd applicable in the UK and RepL*)lic of Ireland IFRS1021.
status
The Charitywas conth'luted by a Trust Deed dated 1724 as ￿ended by Schgrnes ofthe Charity
Commission dated 1906, 1970, 2005, 2008 and 2016. The Charty is r8gistered under number
229579.
Charltable 01)lects
The object of Ihp. Charrty is the r8li8f of financial need, hardship or distress amongst person6
of 60 years or above Ipreference being giv&n to mornbers of John and Frances Wesl'8 family)
by any appropriate means, includin9 pensions or 9ranls.
Conn•cted Charftle•
Effective 1 Seplamber 2017, by a Charity Commi5slon Scheme dated 29 August 2017, Christ's
Hespilal became the Trustee of the Charity and a number of linked charities, including Christ'5
Hospital Foundation.
During the year Chri81'5 Hospital Iregi81er8d charity number 11200901 provsded administTallon
services to Ihe Charity and received a rnanagemenl leg.
Members ol the 808rd of DireGlcrfs of the Trustee, knovm as Th8 Council of Christ's Hospital,
are li8led on page 4.
Grant Maklng PuliLy
The TrLt3tee's policy is to F718ke grants to individuals and trjock grants lo org8ni5ations where
they s81isly the criteria sel out in the charitable objects. All grants are Subject lo means testing
and regular moniloring by the Trustee. Individuals who qualrfy for ongoing financial support
{'pensioner5'l8￿ assessed In April and Ottober of each year. Pensioners are granted funding
a lemi oflhm year5 and, providing they r￿ain eligible, May apply for ftjrthwgranls on expiry
ol that term.
Publlc Bonefii
The Charities Act 2011 requires charities to demonslrale Ihal their aims are clearty for the
public benefll. In considering pu￿1¢ benefit. the Trustee has given due regard lo publi¢ benefit
guidance Issued by the Charity Commissian. Al applications from potential beneficianes of
the Charity are assessed in order to ensure that the re50UT¢es ol the Chanty are used lo
benefit those in gre8lesl need.

Rwlew of Charftable Actlvities
Obj•¢tlves. achlov•monts and pèrfomiancg lor 2020121
During the year 15 new pensioners we elected and 72 pensioner5 r￿81￿cted. Al the year-end
there were 236 recipients of pen8ions12019120' 2381. The fubJre c1￿Mitr￿ent for pensions to
these indimduals, over the next three years, totals £220,890.
The remew ol the effectiveness of the Charity's grants programme wlh Age UK 88rk8hire an
Age UK Horsham ha5 been carried forward lo 2021122.
Obi¢ctlv•s lor 2021122
The Trustee will revlew the effectiveness of Ils grants programme wlh Age UK Berk5hlre and
Horsham and assess whether similar programmes may be an effective way of extending the
Charity's reach.
Recrultmént, Induction and Tmlnlng of Councll Mèmb•rn
hen new Council Members arè appointed by the Trustee, they are required lo attend
briefing on the ggvemance structure of the Charity and an outline of Ihelr respon$iblli1188 in
compliance with the Charily Commlssion's publication CC3, 'The Essential Trustee. They ar8
18sued vlth a 'Truslee Pack. which includes details of the Trust, the Annual Financial
Slalemenls and CC3. Arrangements are made for them lo attend such training cour¥es as
may be appropriate and fijrther training and dèvelopment is offered individually or lo the
CounrAI as 8 whde as required.
Council Members cary out these responsibilities through meetings and, as necessary,
18mporary working groups to exarnlne and make rgcommendalions on specific mallers.
Flnan¢lal Re8ult*
The funds in which the Chanty invests do not di3tribule dividends. so the financial results are
measured in terms of inve81menl growth on funds invegled. In the ye8r lo 31 Augus12021 there
w36 a positiv8 lolal return 0118.3%. This was signrficanlly above the lon*term target gf inflation
plus 3%. Overall totsl funds ￿ld by the Charity increased from £6,937.000 10 £8,105,000.
Investm•nt Pollcy
The Tru81ee's Investment powers a￿ govemed by the Trust Deed, In October 2008, consent
was given by the Charity Commis￿￿n Ic* the inveslrnenis lo be managed on the basis ￿ total
retum. Investments a￿ managed with the objeL*ve of m8xmising lot81 retum linccrne plus
C8pilal growthl subject lo a moderate level of risk. The Trustee's policy 15 to preserve the real
value oflhe investments and the as5els of the Charity are invested across a range ol diversified
asset classes. The Tru*ee is advised in rts policyand deciyAon rnakin9 process by rts Investm8nl
Committee.
Reserves Policy
The Trustee's poliey is lo maintain or enhance in real lerrns the value of the Charity's
Endowment. Under the Total Return policy, amountg required for the grants programmg each
year are transferred from the unap￿led Total Retum lo Unrestricted Funds. Because the
Charrty is an endowed charity, with a signrfic8nl levet of Unapplied Total Return. the level of
Free Reserves has less significance than in an unendowed charity. Global investment
markets have recovered signrficanlly from the 201912020 falls resulting from the Pandemic,
resulting in an increase in the value of the Unapplied Total Return to £6,657,000 12020..

£5.489.000). 11 is expected that there will continuè lo b• volatility for some ltrne due lo the
continued global economic impact of the virus.
Fundra151ng
The Charity does not uThlert8ke fundraising and is therefore not registered wth the Fundr8ising
Regulator.
P￿nCIp•1 Rlsks and Uncortalnty
The Trustee considers that the most significant risk faced bythe Charity is lowerlhan expected
investment returns, resulling in reductions in the lund5 available lo beneficiaries. This risk is
actively managed through the es18blishmenl of an appropriate investment policy monitored by
the Investment Cornmiltee of the Trustee.
Forecasts and cash flows covering the next 36 months have been prepared including
Scenario that considers the impact of a significant decline in invesknent returns. Results of
Ihis analysis indicate that the ca8h reserves and liquid Inveslmtrnts of the Chanly are adequale
to meet its obligations a5 they1811 due.
Statement of th• TN¥te•'* Flnanclal R•sponslbllltl
The Trustee 18 responsible for praparing the Report of the Charities of John and Frances West
lor Pensi¢2ners and the financi81 statements in aecordance with applicable law and regulation8.
Charity law requires the Trustee to Prepare Ilnanci8181alemenls for each financial year in
accordance wlh United Kingdom Generally Accepted Accounting Practicg (Unilad Kingd¢Jm
Accounting Standards) and applicable law.
Under charity law thè Trustee must not approve the financial statements unless 1118 gab'sli•d
that they give a true and fair view of the stale of affairs of the Charity and of ils nel incomlng
or oulgring resources for that period. In preparing these fin8ncial slalemenls, the Trustee is
required lo"
#elect suitabl8 accounts'ng policies and then apply th8m consi81ently,'
make judgem&nl8 and eslimale8 that are reasonable and prudent,,
slate whether appdic8ble accounting standards have been followed, s¢Jbject to any material
departures disclosed and explained In the financial statements". and
prepare the financial slalemenls on the going concern basis unless il Is Inappropriale lo
pre8ume that the Charity wll continue lo operate.
The Trustee is responsible for ensuring that the Charity keep5 proper accounting records Ihat
are sufficient lo show and explain the Charity'3 transactions disclose ￿th Teasonable
aCCUTacy at any lime the finanaal position of the Charity and le enable the Trustee lo ensure
that the fin8ncial statements comply wth the Charitie5 Act 2011. The Trustee is also
responsible for safeguarding the assets of the Charity and hence for taking reasonable $leps
for the prevention and detection of fraud and other irregularities.
Audltor
Crowe U.K. LLP has expressed wllingne5s lo continue as auditoi lor the next financial
year.

The Councll of ChrlJt's Hospllal
Christ'5 Hospital is the Trustee of the Charity. The Board of Director8 of the Trustee, known
as Tho Counal of Christ's Hospital, %tho served In office during the year or subsequently ¥re.'
Christopher Steane, MA. LLB. Treasurer ond Chairman
Nick Atkinson, MA. FCCA
Ni¢k 8ensled-Smith, BSC, JP, CC
Jan de Walden. HND, Mlnslm Ilo 31 August 20211
Judy Evans, MA, MBBS, FRCSIEdl Plast
Marianne Fredwicks
Diana Gamham BA, MA. LLD. DSC
Thomas Garnigr, Bsc
Prem Goyal, 08E. JP
Robert Judson, FRAeS. FCMI, MIOD, RAFIReldl
Miriam McKay. BA
James Maclean, 8SclHonsl
Neil M8idment, MA, FCII (from 1 Oclobar 20211
Rob8rt Mulr, LLB Ilo 31 August 20211
Delva Palman, FRICS. ACIArb, FRSA Ilo 31 Augujt 20211
Pgmela Roberts, FRSA, FRH181S, JP {Irom 1 October 20211
Jenny Williams, BSclHon¥l. PGCE Ilrom 1 October 20211
Jthn Yeornans, MA, FIET, CEng

Principal Offlce and Prof•vJlonal Advlsern
Prfnclpal Offlc•
Auditor
The Avenue
Christ's Hospital
Hor5ham
West Sussex RH13 OLJ
Cfowe U.K. LLP
55 Ludgate Hill
London EC4M 7JW
Bank•r
Sollcltor
Bardays Bank plc
2 Carfax
Horsham
West Susjex RH12 1DN
Mills & Reeve LLP
Botanic House
100 Hills Road
Cambridge
C82 1PH
In¥￿tm•￿t Advl*•r
Partners Capild LLP
5 Young Street
London W8 5EH
Approved by The Counryl of Chri81'8 Hospllal on 2 Decernbèr 2021 and 81gned on Ils behalf
by.
Chrisloph
Sleane
Treasurer
nd Chaimian of the Counol of Chri51'$ Hospital
2 December 2021

Independent Auditor's Roport to thg Trustee's of tho Charltlgs of John and France8
Wesl for Pensloners
Opinion
We have 8udited the financi81 stslemenls of the Charities of John and Fr8nces West for
Pensioners I'lhe Charity'l lor the year 31 August 2021 thi¢h cemprise tha Stslement of
Financial Activities, Balances She81 and notes lo the linanoal 51alements. incI￿￿1n9 significant
accounting policies. The financial reporting framework th81 has been applied in their
Pfeparalion is applicable law and United Kingdom Accounting Standards, including Finanual
Reporb"ng Standard 102 the Financial Reporting Standar¢J applicable in the UK and Republic
of Ireland (United KSngd¢)m Generally Accepted Accounting Pracllcel.
In our opinion tho financial stst•menl5'.
give a true and fair view of the state of the Chanty's affairs as al 31 Augu512021 and
of ils income and expenditure, for the year then ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted
Accounts'ng Practice". and
have been prepared in accord8nce wlh the reqvirement8 ol the Ch4Tilies Act 2011.
Balls for oplnlon
We con¢Jucled our audit in accordance wth Inl&rnational Standards on Auditing IUKI IISAS
IUKII and applicable law. Our re8ponsibililie8 under those standards are further describ8d in
the ALtdilor's responsibilities foi the audit of the financial slalemenls section ol our report. We
are independent of the Charity in accordance wlh the ethical requiremen15 that are relevant
lo our audlt of the financial statements in the UK, induding the FRC'S Ethical Standard, and
we have fulfilled our other elhlcal responsibilities in accordance wth these requirements. We
believe that the audit evidence we have obtained 15 sufficient and appropriate lo provide a
basis for our opinion.
Conclu8lon¥ relatlng to golng concem
In auditing the finanu81 $18lemenls, we have concluded that the Trustee's use of the goSng
concern basis of accounbng in the preparation of Ihe linandal slalemenl$ is appropriate.
Based on the work we have performed, we have not identified any maleriaS uneertaintles
rolaling lo Èvents or condilicns th81, Individually or eolleclively. may c8sI significant doubl on
the Charity's ability lo continue as a going concern for a period of al lea81 Iwelve monlhs from
when Ifie finanaal slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustee respect lo going concern are
described in the relevant sections of th18 report.
Other Informatlon
The Trustee are responsible for the other information contained wthin the annual report. The
other infomation comprises the Information Included in the annual report, other than the
financial slalemenls and our auditor's report thereon. Our opinion Dn the financial statements
does not cover the other inlwmalion and, except lo the extent olhemse explicitly slated in
our report, we do not express any fomi of assurance condusion thereon.
Our responsibility is to read the other inforrnatson and. in doing so, consider whether the other
information is materially inconsistent with the financial slalemenls or our kngvrtedge obtained
in the audit or olhenthse appears lo be materially misstated. If we identify such material
inconsistencies or apparent material misstalemenls, we are requlred lo determine whether
this gives rise lo a material mi5slalernenl in the financial slalements Ihem8elves. If, based on
the work we have perforrned, we conclude that there 15 a material misslalement ol this other
information. we are required lo report that fact.
We have nothing lo report in this regard.
atters on whSch we are required to report by •xc•ption
We have nothlng to report in respect ol the followng mallers In relabon to vhich the Charities

IAccoL¢nt5 and Reports) Regulations 2008 requires us lo report lo you W, In our opinion..
the Inlomiats'on given in the financial stslwent$ Is inconslslenl in any material respect
with the Truslees, report., or
SLffti¢ienl and proper accounting records have not been kept by the Charity,. or
the finanaal statements are nol in agreement with the accounting records and returns.,
or
we have not received all the information and explanations we require for ¢JJr audit.
Regpon$lbllStlos of Trustees
As explained more fully In the Slalemenl of the TNstee's Financial Responsibil(Éies Isel out
on page 31, the TrLJStee are responsible ftsr the preparation ol the fi'nancial statements and for
being satisfied that they 9ive a true and lair view, and for such inlemal control as th8 Trustee
determine is necessary lo enable the preparation 01 financial 8talements that are froe from
material misslalemenl, ￿ether due lo fraud or error.
In preparing th8 finanaal slalemenls, the Trustee are responsible lor a8se5¥ing the Charity's
ability lo continue as a going concern. disclosing. as applicable, mall8rs related lo going
concern and using the going concern ba815 01 accounting unless the Trustee eitrer intend lo
liquidate th8 Charity or lo cease operations, or have no realistic allernalive b¢Jt le do so
Audltorfty rn•pon•ibllltle• for Ihtr audlt of the Ilnanclal 8talemgnts
We have bèen appolnted as auditor under seclion 151 01 the Charities Act 2011, and rop¢wt
in accordance with the Act5 and relevant regulations made or having effect Ihereun¢Jer.
Our objectives are lo obtain reasonable assurance about whether the financial statements 85
whole are free from rnalerial misslalemenl, whether due to fraud or error, and lo issue an
auditor's r8part that includes our opinion. Reasonable assurance is a high level of assuran￿.
bul is nol a guarantee that an audit conducted in accordance wlh ISA8 IUKI will always detect
material misslalemenl when it exists. Misstalemenls can arise trom fraud or error and are
¢on51dered material if, individu8lly or in the aggregate, they could reasongbly be expected lo
Influence the economlc deci8ion8 ol users taken on the ba8is of these financlèl slalements,
Details of the extent lo vthich the 8udil was CDn51dered capable of detecting irregularities.
including fvaud and non.compli8nce wlh laws ond regu18tions 8re $8t out below.
A further description ol Duf Teyponsibililies for the oudil ol the financial slatemerrts 18 located
on the Financi81 Reporting Council's webslte 81.. smv.lr
This
description lorms part of our auditor's report.
Extent to whlch the audlt was congldered capJbl• ol dotèctlng Irr•gularltlè8, Includlng
fraud
Irregul8rilies, including fraud. are Instance5 of non-compliance with laws and regijlations. We
identified and assessed the risks of material mlsslalement of the finanual slalemenls from
irregularities, whether due lo fraud or error, and discussed Ihese between our audit team
members. We then designed and perfomied audit procedures responsive to those risk¥,
including obtaining 8udil evidence sufficient and appropriate lo provide a basis for our Dpinion.
We oblainetj an understanding ofthe legal and regulatory frameworts wthin thi¢h the Charity
operates, focusin9 on those laws and regulations that have a direct effect on the determination
of material arnounls and disc195ures in the flnanual slalement5. The laws and regulations we
considered in this context were the Charities Act 2011 logether wlh the Charities SORP IFRS
1021. We assessed the required compliance wlh these laws and regulation5 as part of our
audit procedures on the relaled financial statement items.
In addition, we considered provisions ol olher laws and re9ulalions that do not have a direct
effect on the financial statements bul compliance with which might be fundamental to the
Charity's ability lo operate or lo avoid a Tnaterial penalty. We also considered the opportunities
and incentives that may exist within the Charity and the group lor fraud. The laws and
regulations we con51dered in this context for the UK operations were General Data Pioleclion
Regulation and health and safely legi￿allon.

Auditing standards limit the required audit pro¢eduTe5 10 identify nonvCOrnPtiance wlh these
laws and regulations lo enquiry of the Trustee and ¢lher management and inspection of
regulatory and legal eofrespondence, rf any.
We identrfied the greatest risk of material impact on th8 financial statements from irregularities,
Induding fraud, lo be within the timing ol recognition of Income, valuation of investmen15 and
the override of controls by management. Our audit procedures lo respond to these risks
induded enquiries of management, and the Trustee aboijl their own It1entificalion and
assessment of the risks of irregularities. sample testing on the posting of journals, ana1￿ical
review and sample testing of income, v￿Ching year end valuations lo third party data,
reviewn9 accounting estimates for biases particularly in relation lo investment valuations,
reviewn9 regulatory correspondence with thè Ch8rily cL￿mISSion, and reading minutes ol
meetings ol those charged with governancè.
Owng lo the inherent limitations of 8n audit, there 1$ an unavoidable risk that we may not have
detected somè materlal misslalemenls in the financial statements, even though we have
propedy planned and perfomed our audit in accordance with auditing standards. Forexarnple,
the further removed non-compliance with laws and regulations lirregulariliesl is from the
events and transactions reflected in the financial slatemenls, the les5 likely the inherently
lirniled wocedures required by auditing standards would ideniily it. In addition, as with any
audit, there remained a higher risk of non-delection of irTegul8rities, as these may involve
collusion, forgery, inlentional omis510ns, misrepresenlalions, or the override of internal
contro15. We are not respon6ible lor preventing non-compliance and cannot be gxpecled lo
delecl non-compliance wth all law5 and regulations.
Us• of our rgport
Thiy report is made Solely lo Iba Charitys Trust88, 88 a body, in accordance wlth Part 4 of th8
Charllies (Accounts and Report51 Regulations 2008. Our audit work has been undertaken so
that we might s1818 lo the Charity's Trustee thos8 matters we are required lo slate lo them in
an auditor's report and for no other purp08e. To the fullest extent pem?itted by law, we do not
8c¢epl or assume responsibility lo anyone other than the Charity and the Charlly's Trusl8e as
body. for our audit work, lor this report, or for the opinions we have formed.
Crow? U.K. LLP
Slalul(xy Auditor
London
Dale 10th December 2021
Growe U.K. LLP 15 eliyitAe for 8ppcinlment 88 8udit(￿ of Ihe Ch&rily by wrtue of ils eligiL¥lily for appthnlmonl
auditor of o compfirry under section 1212 of the Companies 2006,

The CharRlos ol John and Frances West for Penslone
Statgment of Financlal Actlvltles
Y•ar Endefl 31 August 2021
£000
Endowm8nt General
Funds
Funds
20
Totsl
2020
Total
M)tei
INCOMING RESOURCE5
Incoring re¥ourc•• Irom gengr•tsd fund•
kn¥￿tment I￿orne
TOT￿ INCOME *IID ENDOVallENTS
EXPENDITURE ON:
Ralslng Fund•
In¥e$brent rn8nag8m8nt Costs
1341
1341
(31)
h•rltsbl• 4¢tfj¥ltl••
Grants payatA8
Op8r81iryJ co818
11721
1321
11721
1321
(202J
1321
TOTAL EXPENorruRe
238
265
NET IOUTGOINGI FUNDS FROM OPERATIONS
BEFORE TRM15FERS I14D INIESTMeNT
GAN8
1341
12041
12&51
on Inv••lnxnts
Trnmfor fvnd•
1,4C6
12041
1,406
204
NeT MONeMENT IN PUND3
1,168
514
R•conclll•tlon of fundi..
Totsl funds brought forward 1 September
6.937
6,937
fj,393
TOTPL FUNDS CIRRIED FORWA90
8.1
8,105
6.937
The notes on pages 1210 17 form part of these financial slalemenls.

Th8 Charltles of John and Francoy Wesl for Penslon•rs
Balance Shget
At 31 Auoust 2021
£ty)
Endowment General
Fundrk
Funds
2021
Total
2020
Total
Note$
FIXEO ASSETS
Inw81m8nt8
8,105
57
8,162
7,044
CURRENT ASSETS
Deblors
Cash al bonk and h hanLI
47
142
189
47
142
189
143
143
CREOITORS
Due within one y•or
11691
(1611
NET CURRENT ASSETS I ILI*BIUTIE81
30
30
(18
TOTIL AS8eT5 LESS CURRENT LI*BILITIES
8,105
87
8,192
7,026
CREDITOR8
Due 8fter more than on• ￿ar
1871
18n
(89)
TOTPI NET ￿SET3 AT 31 AUOU8T
8,105
8,106
6,937
Endowmenl FundB
G8n¢rJl Fund•
8,105
8,937
8,106
6,937
The note5 on pages 12 10 17 form part ol these financial slalemenls.
These finaneial statements were approved by the Council of Christ's Hospital on
2 December 2021 and signed on ils behalf by..
Christopher Sleane
Treasurer and Chairrnan of the Council ol Christ's Hospital
2 December 2021

Th• Charities of John and Frnnce$ West for Pen81oners
Cash Flow
Yoar Ended 31 August 2021
2021
2020
NeT C￿H IOUTFLOWI FROM OPERATING P£TMTIES
12881
(2541
CASH FLOWS FROM INVESTING ACTMTIES
Proceed8 from 5*0 01 investrrent se¢urthes
Pwcha5e olinveotment •ecurth'eJ
215
11501
NET CASH INFLOWFROM INVESTING ACTMTIES
215
CH*14GE IN ¢￿H CASH EQuIV￿ENYS FOR THE PERIOD
f39)
Ca8h b•lance ¥t 1 Soptembvr
143
182
CASH W4D CA8H EQUIV*LENTS AT THE END OF THE YEPR
142
143
R•conClll￿Ion
N•t loutwngl resource8
(Decrease) l increase in creditarg
(I￿reaSe) I decrease in debtor8
12381
f265)
1471
Nel ca•h loutflow) Irom op•ratlng actJ¥ltl••
289
254
The notes on pages 12 to 17 lomi part ol these financial $18lemenl5.
-11-

The Charltlo$ ol John and Francas W•gt for Ponsloners
Notes to the Flnanclal Statemonts
Year Ended 31 August 2021
Accountlng Pollcl
Basis of Preparntlon and asses8m•nt of golng concern
The financAal statements have been prepared in accordance with the Charilios SORP IFRS 1021
applicable lo charjb'es weparing their accounts in 8ccordance wilh the Finana81 Reports"ng
Standard applicable in the UK and Republic of Ireland IFRS 1021, the Chanties Acl 2011 and the
Statement Df Recommended Pradice applicable lo charities preparing their accounts In
accordance with the Finanu81 Reporting Sland8rd appliCa￿e in the UK ond Republic tsf Ireland
IFRS 1 D21- effective 1 January 2019.
The financial slalements have bgen preparèd lo give a 'lrue and lair, view and have departed
from the Charities (Accounts and Repty1sl Regulations 2008 ¢Jnly lo the extent required lo provide
'Irue and fairview,. This departure has involved lollovlng Accounting and Reporting by Charities
preparing their accounts in accordance ￿1￿ the Flnanciol Reporting S18ndard applicable in Ihe
UK and Repu￿1¢ ol Irelond IFRS 1021 Issued on 16 July 2015 rather than the Accounting and
Reprytlng by Charrtie5'. Slalemenl of Recommended Pra￿1￿ effective from 1 Awil 2005
has since been withdrawn. The Charities ofJohn and Frances Weslfor Pensi¢)nèrs I'lhe Chanty.)
is regisl8reil ￿th the Charity Commission in England and Wales under charity number 229579
and constilule5 a public ben81rt 8nlily as defined by FRS 102, The Prinapal Office ol the Charf(y
Is set out cn page 5.
The mo81819nfftcanl areas ol adjustment and key assumpts'ons that affect items in the accounts
relate lo eslimaling the li8bilrty from Muk￿yÈar granl ccmmilmentg (see note 1.4 and notes 8 and
9 lor mor8 Infomialicnl. The most significant areas of uncertainty that 8ffect the carrying value of
assets held by the Charity are the level of investment ￿turn and the perfom18nce of Inv&8tmenl
markets Isee the Investment Policy and Principal Risk5 Sections of the Trustee's r8POrt for more
information).
The fUnth'c￿al currency of the Chanty 56 consldered lo to pounds slerllng because that Is the
urrency of the prlmary economic environment in %thich il operates. Forecasts and cash flows
covering the next 36 months have been prepared including a scenario that considers Ihe
impact of a signlfic8nl decline in investrnenl returns, Results of this analysis indicate th81 the
cash reserves and liquid investments of the Chanty are Edequale lo meet ils obligations as
they fall due. Accordingly, the Trustee believes that the Chadlls financial resources are
sufficient lo ensure the Charity will conlinve a8 a going concern for the foreseeable future, being
al least 12 months from the dale of approval ol the financial statements and have therefore
prepared the financial statements on 8 gc4ng concem basi8,
Income
Income is accounted for when reCeiva￿e.
Expendlture
Resources expended are accounted for on an accruals basis.
1.4 Grants
Provision is made for future grants committed duriryJ the current and previous years.
-12-

The Charltle$ of John and Frances West for Pensloners
Notes to tho Flnanc5al Statementy
Year Ended 31 August 2021
Flxed as8et InTthtmènts
Investrnents, for whith there Is a quoted m8rket, are valued ai the rullng at the Balance
Sheet date. Inveslrnenls bthich are held in funds ￿1¢h themselve5 Invest In publidy quoted
securrties are shown on the Balance Sheet In accordance wlh the infomialion wovided by the
fund managers. Other inv8slments. comprising Illiquid assets, are included al the most recent
audited quartedy reports provided ty the fund managers.
Realised inve8tsnenl gains are calculated by reference lo disposal proceeds and erther book
value or cost il purchased in the year. All goin5 and 105$es are induded in the Siatement of
Financial Acuvilies.
1.6 Flnanclal In•trum•nt8
Flnancial inJlrum8nls are initially rgcognised al Ir8ns8cliM value and sub8oquenUy measurèd
al amortised cost wlh the exception of InveBlrnenls vthich are valued as descrlbed above.
Financial assets held at amortised cost comprise cash al bank and in hgnd. Cash at bank and
in hand is defined as 811 cash held In instant access bank current and deposit accounts and
used as working capital. Finanqal Iiabilldes held al amortised cast comprise all crediloTS.
Assets and liabilities held in forgign currency are tran3laterl lo pounds sterling al the ba18nce
sheet date at an appropriate exchange rate.
1.7 Total return accountlng
The Charity Ccmmlsslon p8tTnitted the Charity to adopt the u8e of total retum In relation lo Ils
pemanenl endovrnent on 3 October 2008. The power pennlls the Trustee lo invest the
pernanènt endownenl lo rnaximise total Tetum and lo m8ko 8vallable an apprcpriale port￿￿ of
the total rebjm lo fund expendllure oach year.
The Trustee haB us&J the value of the pemianent general endowment al 31 July 1995,
£1,448,000, lo represent the 'Preserved Value, of the original gift. This is the minimum
pemiissible level DI the endovKnenl which is lo be used to producg the Income for the Charity
and which il$eM cannot be spent.
Taxatlon
The Charity's actMlie5 are exemptfrom inc¢Jm8 8nd corporation tax. The Ch8rily is not registered
for Volue Added Tax. VAT is Indudgd ￿th the ￿eM of expenditure lo which il relates.
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Th? Charftl•8 of John and France* West for P•ngloners
Not￿ to thg Flnanclal Statements
Year End•d 31 August 2021
2020
2. Expandlture on ralslng lunds
hveslmenl management cost
31
3. Grants payable
£OOO•
Grants paid and p8yablE to..
Indi¥Aduals
Organi88tic￿s
2021
2020
172
192
io
172
202
4. Oporatlng costs
£OIXl•
mintslralion fee payable to Christ's Hospital
Idil lee
2021
2020
30
30
32
32
2021
2020
6. Galn8 on Inve•tn*nts
£OOOs
Rea11884 ond UnT￿lISed gains
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The Charltles of John and FraneÈ8 West for ￿nSIOn￿r5
Note5 to the Flnanclal Statemont$
Year Endod 31 August 2021
6. Fixed As¥ot Inv•stn*nt•
2021
2020
Securltles
￿￿et value at 1 Sept 2020
AddrtK)ns to the portfolio
DLsposals from the pc*trd
Investment incune, realised and unredised gains
6,450
1S0
(215J
1,406
arket value at 31 Allgusl 2021
8,162
7,014
Socurltl•• conwrI￿.
The ￿$ter Portfolio C Limiled1rn8n4ed
by Partners Capital LLPI
8,162
7.044
8.162
7, 044
The net bcd< value of investments included in the above was as fdthvs..
£00
vestment assets overseas
8,162
8,162
At 31 AugLf512D21 and 31 August 2020, there were no listed inveslmenl3.
7. Debtorn
£QOO•
2021
2020
Trade debtors
47
47
8. Credltors- an￿￿nts falllng duo ￿1n one year
2021
2020
Granis payable
Trade creditors
134
2S
139
22
159
161
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The Charltle$ of John and Franc88 West for P•n¥lon•Ys
Notes to the Flnanclal Ststemonts
Year Endod 31 August 2021
9. Creditorn falling du• aft•r ry￿re than on• ￿ar
2021
2Q20
Grants payable- be￿en one and two years
- betsveen tsvo and three years
78
11
18
11
87
89
10. AdmSnl¥tratlon and Trust••
Ouring the ye8r Christ's Hospital Icompany number 08232556 and registered charity nurnb8r
11200901 provided adminislralion seNices lo the Charity and receNed a managernenl tse.
Tha Trustee received no remuneration or rèimbursed expenses in ils capaaly as Trustee
from the Charity during the year.
11. ststomont of Totsl Return
2021
Total return for the period
vestment gains
Investment management costs
Net lotsl return for the period
pplicats.on of total return for the peiiod
Unapplied total return brought forward 1 Septernber 2020
Unapplied total return carried foNard 31 I￿gUSt 2021
1.406
(34
1,372
12041
5.489
6,657
Preserved value * 31 ￿￿USt 2021
1,448
Total Endobwrnntvalu# •t 31 August 2021
8,105
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The Ch•rltles of John and Frances We8t lor Pen¥loneTS
Nol8s to the Flnhnelal Statem•nts
Year End•d Jl Augu•t 2021
12. Statement ol Financial Activitie5 car￿aratIVe figures by fund type
£OOOs
End¢)wment General
Funds
Funds
2020
Total
INCOMING RESOURCES
Inconlng R•sourc¢s from gon•ratsd Fund¥
Investment Incorne
10T￿ INCOME M4D END0￿ENTs
EXPENDITURE ON..
Ralslng Fundj
knv95tsnènt ￿anagement Cos19
1311
1311
Charltabl• ActlYltb••
Grants Payable
Opefaling C06t8
12021
1321
{2021
1321
TOTALEXPENDITURE
31
234
265
NET IOUTGOINGI FUND3 FROM OPEIIATION3
BEFORE TRI￿sFER5 ANO INVESTMENT
GIJNS
12341
12661
Galn• on 1nvgitn￿ft1•
Trnnsf•r be￿0￿ fundl
809
12341
234
NET MOVEMENT IN FUNDS
544
Reconclllatlon of funds:
Total Funds brought forward 1 September
6,393
6,393
TOT￿ FUNDS CARRIED FORIPIARD
6,937
6,937
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