Charlty rngl%tr•tlon number 229861 THE WALTER HIGGS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2026 JRW HOGG & THORBURN
THE WALTER HIGGS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tnwto KJSKTh)tt N J KTh>tt E J KnrAt Ch•rlty r•glBtr•tkin 229881 Prln¢lwl •ddm¥ ChiFpkwJ Ncrf EnglaTrJ OX7 4HH Ind•poDd•nt•x•nlMr JRW Ho99 & ThybLKn LLP Cht¢r•dACrtIts 19 Bucdeuth Stroet HBi( TD9 1)HL
THE WALTER HIGGS CHARITABLE TRUST CONTENTS g• Stthm8nt •Xlvit 8-10
THE WALTER HIGGS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2026 The firnl statements I0 bw wyred in ith the accwntiTrJ P)re8 set out h noto I to th8 flnand81 stalemerrts and compty wtth th& tru8fs dwnenl. the ChatS Act 2011. FRS 102 FInana Reporting Standard apF4ico1kn in UK and Repulslc of Irdan(r and the Chantr8s SORP "P£touth"ng and Reports by charIt.. st¥lement of R(mended Practlce 8p to tharrtles 18parfng ¢hwr 8r£oLnts in accordar¢c• Ath thè FIjaI RewUryJ Slandard aF%cable in tr UK atyj RepubSi¢ of 1rdar IFRS 1021.. ObJ•etlv•• •nd I1¥111$¥ The trustees hav8 the p?r to aFpty th• irKern of Th1 fiy SLh th8rft•blB PWP)Be8 as th& Publk b61ngfft The te88 c4mfinn that Ih8y have r•feff•d to ts wid8 c4Nts1rl In the Charftles Ccffimlsslon'g 9en•ro1 guklance on pU1C b•n•fft when royiwmng the Tn1,4 aims ct¥eLv6s and m pjannlng fijtufv activ¢8. The tru¥te•J pakl du• rngard to by Chwty c0rnmlseb In dedthryj wh¥1 t Trust sh(Ald und8rtak•. Aehl•v•m•nts •nd p•rforyn•nc• Significant adwrtles andVernone$ obpcfhes irustoeB manage th• invostrn•nts Gl the Trt to kKx•a•lrg r•d ov•r fong tthm, there •naÈ41r¥J to hye•M Ihelrdwit•t48 UrI1•. Fln•nclal r•vlow Th8 trusts8$ mado gT8nts for chft0 purF#)W 88 In the &atemenl of Fknanclal Activlll8s. The ntl a13 of tho Trust have irma8ed ctynp8Ted to that of the pre¥Km year lmarIly to riot galng on Inve¥tmen¢g (n9 the yew. Th• cloglng luThJs hJ •re £1.$54.05812025. £1,448.27n. 811 r•latirwJ to UmStrkt fiJnd8. Apart from Inve8tmMi manag9ml fees WKI coth of1 Ir#end•nl EXiner, Twjt ha8 no other rKJ8t8 vthlch n•c8sslt8t¢ 8 fe8eNeg ftmd thts trLtyt8 th•refty res¢fv•d not to mairtsln such a fund. Pl•M for p•rtodB Th• Trust ams to to SLWUt a varf•ty olc•rt¥bb• bo(les. struclur•. go¥•rn•nc• and manty•M•tht Th• trte•S vtho rye1 dwlng th• y•or and tothe d ofswre oftho fmrthl tht8m¢nts %re.' KJSKnoit NJKnott EJKnott Remjitnpnt 4nd 8pwntffnl ofInl Foundatn)n 8ndA(krttnIm)n oflhe Chaity The K¥tter Higgs Charille Tnjst was ltyJNJ8d rm 18th Del?nt 1952 by Mr Vkn Frnnk Hi9u& Et wa6 r8*tered ¥th the Chwities corn On 23rd 1964.
THE WALTER HIGGS CHARITABLE TRUST TRUSTEE8' REPORT (cowllNUED) FOR The YEAR ENDED 5 APIUL 2028 Ut J*x
THE WALTER HIGGS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WALTER HIGGS CHARITABLE TRUST I repcwt to the trustees on my oyAmlnth ot financ& StrteM ofTl HvJg8 CharitaL4eTru¥t Ith• tnthl for th6 yèar erthd SA 2026. RponsibIlItIe$ #nd ba¥h of report As tha trustees of the trust you ar• r8$p}lIe rK•pwabNI ofthe finaTrxl 8talThnts in a¢>xrdtsn¢o t•Ath th roqiMrarrAnl$ olts Chprili85A¢t 2011. I report in reswx ol my examNb8tson of the staternts ¢8rri•d unthr aon 145 of tho Ch8riti Act 2011. In Canng out my exarrlnalknn I lh8 Dirtrji 9Nen Chwity CommM&4)n un¢J•r $¢ctI 14515}Ibl oftr Charfb8sAd 2011 llld•p•nd•nt •X)In1¢ •l•l•m•nt I ¢x4npW my •¥amin#l¥)n. l co)1M th¥1 M rn•tt•rn hw• com• to my •tt•rfem In o)nn•ctk)n wth tho examinatlon glving rne Gguse to lIve itwt In arry materid respocL accountif¥J re(yJth were Thyl kepi n re¥pect Oftt trust •$ r¢qmd ty g•cllon 130 ofthe CY4rftl•8A¢t2011. lh• financLql stat8m•nts do not wlth tw retsjfds". fin8nd 8tatemenl8 do not comF4y the aPFth'cat4e reqLlrements ¢on¢emlrrfJ the form and ¢ont•nt of ftn•n¢wl itol•m8nt$ set oul Ch•ibJes (Accots Rep> R•gLI8tSM$ 2LbJ8 othar Ihgn any requirement that the flnandal slatements k¥v• • Iruo aThJ l•lr th. 1$ not • mgtt•r nSidl pert of an independ•nt examwOon. shOd be drawn In thi8 repjrt in order to enat48 a prw und8rstaFKllng of th? financi st•temerrt8 to be roa¢h•A. Joann• Glb•on JRWHo99 & Thjrbum LLP Ch8rtw•dAcccJnt 19 Bucdeuch Streot Hawck Roxburghsfire TD9 OHL 3Q July 2¢)28
THE WALTER HIGGS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUIffj FOR THE YEAR ENDED 5 APRIL 2026 Unr#trlct•d Unrogtrlct•d lund• funds 2026 Ineom• from: Intrer* 47,188 43.527 Tol•l In¢om• 47,186 43.527 Expondlturn on: R818lrrfJ lund$ Charitable activltieB 4.574 39.570 4.315 35,485 Tol•l •xp•ndltur• 44,144 39,780 N8t on Inv•slme 10 102,739 754 N•t Incom• •nd mOV•nt ln fund• 105,781 4,501 R•concllhllon ol tsnd•: Fund W8n¢e$ at 8 April 2tr25 1,448.277 1,443,778 Fund b•l•ncM •t 6 Aprfl 2 1,554,058 1,448,277 Th& nole• on 8 to 10 frym M ofllwo ffirwfy•l
THE WALTER HIGGS CHARrfABLE TRUST A8 AT S APRIL 2026 IJIJA47 C•th 10311 1A483n 14 1.864,1)58 1J54A160 1A4Jxn
THE WALTER HIGGS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 Ae¢ountlng pollcl•• Charlty InforrnthTr Th8 Hi938 Charilabbe TnAt is c(xth¥W by Its gwnlNJ a deed of PAVJ cor6l1ut89 8n unInCorpated (tsrity. 1.1 B•BIg of pr•paTrtlon Tha flnanck5 st8t•ments h¥• pr8pw8d in amydanc4 vlith tho gO¥I¥j docuMt. the Charits$ Ac# 2011. FRS 102 Yhè R8pth"rvJ stalrd applKat>lo in UK and ReputAk of Ireland, and th Charits8 SORP 'AcAyxnb'rvJ and Rer#)rbno by Chwties". Statom6Trt Rec(thmended PractKe applic8bkn 10 chariii•s Pren9 thotr acc(yJnts n acC•¥e wilh ts Fln•Thi)l RwbtYJ Standard app1kgb In th8 UK and ReWl4 ol Ird8ThJ IFRS 1tr21". The tru¥t is 8 PLsl 8enefft Entity as defin8d by FRS 102. Th• tru8t has ¢ak•n advarrt•g• of tho the SORP for thart588 to pr•por• a 8tAt•m&rt of c4¥h finandal slat8m•nt8 we prwr•d in storfing, llch Is Iho furthw vjrnicy tnAI. Monatary Th8 flnaaa1 8tstements h•ve beon prepar•J tho lu8tMc•l rg)8t wv8ntk)n. wmh the excepttin ol prtm•nts th1¢h gf• indud•d at maiket value. a8 rnc¢d ty Ihg r•valuatiw of c•rtaln ass•ts. Th• 1.2 Goln• conc•rn At th8 tlm8 of &pwoving the finan(Jal st8tern. the tNstees hwe a re86wabkn exp•d•Uon th th• trust h¥8 èdaquo1• rar& lo ¢onlnu8 In q)ernUeAwl 6$ter• lor tho fce8e8able futLYe. Thus lh• trte•S 1.3 Cth•rltsbh Unre8lri¢ted fLthth or• •¥oil•bkn k at tr dlau•Ocffi of trus1 in furtharwKe of thak charft¥bl& 1A In¢on If0m8 is reccgnlsed th• InMI Is f•gaty enlYe(J to rt after ary pwfOane• conditicn¥ haN b••n m¢t, Cash donallons are recognised on r•cotpt. Otsr dLThb005 we rwiwj GYKe the trv5t has $<1 of the donavon. unloss pwbmiarK8 cOThJMi f&4ulre defe olthe amlxmt. Irorne tax recoverate in relation to d¢natkM re¢w•J UKler GrfIN or de¢ds of¢>)v•n•rt 1$ 81 tr tim• ofth• rknn8on. ac are r•ttsJrd ¢)n 01h•Al• 6t IM lftAt has l)••n rTrad of imp•{ng dlstrfbukn. the 8mourt is kno4, arKI r•c•lpt fis 11 the am(Allrt 15 rrt)t kn(p. Ihe legacy Is treat8d as g c4)ntient 1.6 ExpdItuT• ExFendrtwe 18 recognised there ib a Ct4igation tp lrnnsfer e¢crfM)mic benefft to 8 third party, rt is prob8bk that 8 tra of•c(>r txnofts will be rwuKed in setuement. the mnt of thè oblig#thon can be meagjrnfl relKty. n¢kn is dasgfied ty acts¥ty. The costs of eath aLtrity are made up of the trAal of ¢thrfft costs and sharnd costs, induth.ng support cosls In¥c4¥ed In U1¥ eath 8cb"vty. Cmrect costs 8ttritsthaL to a single activlty arè 8IIo¢ed 41clty to that a¢tMty. Shartd costs which cofttritwJt• to mL¥S thgn ong vrty &ftd support costs whith a¥• nol attlitle to a admty are apwrbcn8d those a(vits on a bas o)nsintent with the tsjse of resources. Central siaff costs are altrated cfi the ts'S of ty.me gwiL and depredation thg•i are auCtl on wti¢)n ofthe •sseYs usa.
THE WALTER HIGGS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2026 A¢¢ouniing polkl Icontlnuodl but not rLruod 88 1.6 Flx•d aJ••t Inve¥lment• Fixed 8SS¢t in¥$ are intliBMy me•Sur 01 trsns•#v)n fv 8xd(krrfJ transaction 81¥. and 8 8ub8equentty meagjred at falr value at each report¥lg dth. Chan9ès in tsit Val are recctyJni58d in nel 1.7 a1¢ flnanclNI Bawc finandal ast•ts, IrK4ud• d•blcis cash bank brn. we Initlalty mea$ured ot tr8n6adon prir induding trans8Lon costs ar wbs¢qLWrtty ¢Arri•d at amcrftised cost th8 eltiVe nt•re8t method unl•ss the arTarvJwnt consbtrrtes & fin4r9 tr¥n8•dion, er• th• tran¥actron 18 m•¥wred at th• k¥•senl Val of Ihe fijiure dMecJnt•d at 8 market rate of hrtmt. Financial ass&ts 1.8 Ba•lc financl•l Itabllltl 8a&c financial IwbSltses, inclu¢Jry rJeditcn and bank loans ar& r•¢>Jnl#•d at tran8actlon Fthe unkryss arr¥ryment conthut8s 8 flMrKing tr8nsac0n, vthore the detl in8trLwnent 1$ measured ul th8 Prasent of the lulU Yents di•tsxrt•d th • m¥rt•t r•t• of rt•rn. FInVK lo"¢1 dAfd as Y¥b within Or year art not amorti8•J. op•raOon$ from suppllèrs. Amourts pay81 ar• da88lfi•J as currerrt liabikkn M payment is duè thln ono r or l*$$. 11 not. thoy •r• w¢sented as non-eJThnt Itabilllks. Trade uedrtor8 we recogniBed Inlually at nBactiCffi fv and iubwuorty at •nortlwl L))st Ilw Inl•r•8t method. Finandol tlakn1lu dwecognimd 7Atsn the truth •xpr• +y w• dts¢harpa or ncdled. Ineorn• from Inv•8trn•nts Unre•trict¢d Unr•striet¢d funds funds 2026 2025 Inm$ from listed inveslrn Int¥•st r8CQtvaNe 46.912 274 43,323 204 47,186 43,527
THE WALTER HIGGS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2026 Exp•ndllur• rnljlng fvnd• Unr•BtrlcW Unr•strtctsd fund• funds 2026 2026 Invwlm•nt m•n•g•nw 4.574 4.315 Exp•ndltur• on Gh•rii•bl• •cllwl Grnnt maklng 2028 Grnnt maklng 2026 DlY•¢t co•ts Gr•nl I1j of •cllt41U•s {•e• Sl 38.310 3d,285 8har• ol •upport •nd go¥•m•n¢• ¢o•ts {M• nol• •) Support 1,280 1.200 39.570 35,485 AMty•h by fund Lknre*ri¢tsd fvr 39,570 35,485 Grnnts pay•bl• Grant m&klnH 2028 Grnnt maklng 2026 Gr¥nts to ko¥l(rtlo.' kfjton Tru8t Chlppty Nortcffl TW? SFdsbury PCC Ex•tsr CdlwJ8, Ur¥S0ty of Oxfry Clege, Oxford The Old BokehJuse 15,000 2.500 1,000 10,000 10.000 10,000 1.000 Lws Shipl•y. Comes to TlyM• Foc 11 hlbakd Celki Develcwrth CotswDkl RiversTru8t Akhe5[rrn Rgwrd) 2.010 2.250 4,785 38,310 34,265
THE WALTER HIGGS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2026 Support co•ts •llocat•d to KIMI 1.200 An•ly8•d tl•n. Grant marrfJ 1,280 1.200 N•t mDvom•nt In fund• 2026 2026 •t¢m•nts 1.280 1.200 Non• ol th• IN••• (or •ny FW¥8 conn*l wh thwnl any ¢< ben•fits from th8 Ernploy• 2026 Nwnb•T 2025 Numb•r Totsl 10 Qaln• and on Inv••tff UnY••trlctgd Unr•wtrlctgd fvndB fundi 2026 2028 ReVatIon ofln¥p8trn•nts 1W2,739 754 11 Taxalon The tharty IB exemptfmn taxe1 on ils aLXThfjO8s bocaLwe all ilB 18 8pplied tr tharitabkn
THE WALTER HIGGS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2026 Invwlm•nts Co•t or luAtn At 8 Ayll 2025 A¢hJMons 1,430.228 40.857 102,739 129,977) At 5Aill 2028 1.543,847 C•nylng amount At 5411 2028 1,543,847 At S 2tr25 1,430,228 13 Cr•dllorn." •fflount• f•Ulry du• •n•y••r 2028 2026 2,230 14 Unr••trkt•d lund• not suW8ct to Spad ¢>ybJHion$ by (IryK WKI sTrntors a8 to htywllw may be Those Indud• AI I A1 IncomlrwJ R••wN• G•ln• Ind YJ2S •xp•nd•d At 6 Aprll 2026 Genwal fv 1.4482TT 47,1e8 144.144) 102,739 1,S54.058 Al 8 Aprfl In¢Milng R••ouYu• Gtsln• •nd At 8 Aprll 2025 General fun¢JS 1.443.T16 43.527 139.780) 754 1.448277 DonatKTh totalling £7.5(X) were pald t0AJtht} Emma Knott Is ¥ truste8. Erfflm Jw I<tt did take p1 in ¢J•¢iwi to to Tnt -10-