WPA CHARtrABLE FOUNDATION
Report & Accounts
FOR THEYEAR ENDED
5 APRIL 2022

wPACHARr￿LE FOUNDATION
Report & Accounts
for the year ended 5 April 2022
Chairman's Ststement
Reference and Adminlstratlve Details
Trustees Report
Trustees Responsibilities
Report of the Independent Auditor
Statement of Financlal Activities
9-13
14
Balance Sheet
15
Statement of Cash Flows
16
Notes to the Accounts
17-23

WPA CHAR￿LE FOUNDATION
Chairman's Statement
for the year ended 5 April 2022
In the last twelve months. the WPA Charltable Foundatlon has nearly doubled the
amount of much needed sUPPOrt towards accommodation and travel costs for
families accompanying thelr children to and from hospital. In line with previous years,
the average age of the children181. average payment (£4681 and geogiaphical spread
remains broadly similar while each applicatlon underlines the challenges faced by the
children and their parents. Feedback has been overwhelmingly appreciative and our
support is much valued.
Thi5 Success can be attributed to the changes to qualifying criteria and grant levels
that were made 18 months ago, our relatlonshlp with hospital welfare officers and
charlties who are supplying the appllcations, as well as the signlficant Increase in need
exacerbated by the post pandemlc'cost of Ilvlng, rises. With the'opening-up'of the UK
after the pandemiG we envlsage the need for our support Increasing.
In addltlon to this, l am pleased that our relationship wlth the Brainwave charity,
helping children wlth disabilities achleve greater Indèpendence. has deepened with
the Charity continuing to support their Priorlty Travel Fund asslsting familles from
across the UK
We remaln most grateful for the support of WPA and theirteam who assist in the
administration of the Charity on a pro bono basis thereby maximising fijnds available
for distribution. Thanks to everyones hard work and supporL the WPA Charitsble
Foundation is well prepared to continue delivering its objectives helping Westcountry
famllies In the forthcoming year.
It is, with great sadness, that we must report the death of fellow, and longest servln
Dlrertor, John Wright who has been a loyal supporter of the Charity slnce 1999.
His incisive observations were good for us all and a contributing factor to the solld
foundation5 that we have today.
The Rt.
on.
eEar
Cromer

WPA CHARtrABLE FOUNDATION
Registered Charity No 230151
Reference and Administrative Details
Trustee
The WPA Benevolent Foundatlon Llmited
Chairman
The RL Hon.The Earl of Cromer
The Dlrertors of The VIPA Benevolent
Foundation Limited are:
The fft. Hon. The Earl ofcromer
P.C. Hall
R. A. Johnson (resigned 27 Awil 2021)
M.C. Ktamer lappolnted 27 Awil 2027)
A.C.B. MacEwan
J.A. Wright {retired 30 June 2022)
Secretsry
N.A. Royle
Pfincipal offi
Foundatlon House
CLtlmhead
Taunton
Somerset
TA3 7DY

WPA CHARt￿LE FOUNDATION
Registered Charity No 230151
Reference and Administrative Details
continued
Audltor
PKF Francis Clark
Blackbrook Gate I
Blackbrook Park
Taunton
Somerset
TAI 2PX
Bankers
Barclays Bank Pk
15 Queen Square
Bristol
BSI 4NP
Investment advisor
St James s Place Wealth Management
St. James's Place House
1 Tetbury Road
CEren￿Ster
Gloucestershire
GL7 IFP

WPA CHAR￿LE FOUNDATION
Trustee's Report
for the year ended 5 April 2022
TheTrustee presentsthe report and audited accounts ofthe WPACharitable Foundation
forthe year ended 5 April 2022.
Legal and adminlstratlve informatlon Set out on pages 2 and 3 fomi part of thls reporL
The accounts comply with current statutory requirements. the Goveming Instruments
and the Charltles SORP IFRS 102) Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to Charities preparing their accounts In accordance
with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS
IO¥ (effectlve l January 2019).
prtndpal a<tlvhles and obJ•¢tlv•s
The WPA Charitable Foundation ltthe Charity￿, an unInCo￿orated registered charlty
Ireglstered number: 230151), has its roots in the Bristol Hospitsls Fund {Incorporated)
whlch was Set up in 1940 before the estsblishment of the National Health Service. The
Govemlng Instruments of the Charlty provide that it5 assets should be applied for
the benefft of hospltal patients. medical charities and medical research. The Trustee
Is guided by the Memorandum of the Bristol Hospita15 Fund las amended). The grants
made by the Trustee are principally ft)cused on helping families of Sick oi termlnally
111 children. where these families experience finanoal hardship in meetin9 the cost of
travel to and from the hospitals where their diildren are re￿Iving treatment
The Charlty Is reliant on donatlons received by third parties and on the income
generated by its investments to meet the anticipated requests for grants and other
financlal assistance.
A<hiev•ments and performance
As set out in the Chaimian's statement on page l. the key achievement contlnues to
be the provision of financial assistance to families with children who are profoundly
111. There has been an Increase in requests for grants during the period wlth 167 grants
being made to100 families12021: 76 grdnts made to 63 families).
The aiarfty doe5 not have any employees; admSnlstration services are donated by
Westem Provident Association Limited.
The Trustee ha5 complied wlth the duty In section 1715) of the Charities Art 2011 to
have due regard to the publlc benefit guidan￿ published by the Charity Commission
in February 2014.
Last year, it was reported that COVID-19 did not materlally impactthe charltsble grants
awarded, this remains the case forthe current year.

WPACHARrrABLE FOUNDATION
Trustee's Report
continued
Flnandal revl•w
The Charlty aims to maintaln the level of reserves sufficient to keep grants at current
levels. through income generated from the investment portfolio and frorn donations.
The reservesareallocated as outlined in note13 tothefinancial statements.The reserves
of the Charity now stand at £792,66612021: £820.3971, of which £93.65112021.' £94,676)
are restrlrted and £699,01512021: £725,721) are unrestrlcted.
The investment objectlve of the Charltyfor the financlal investments Is to seek a steady
stream of income and modest growth In capital values overthe medium term. Financial
Investments totalllng £749,847 (2021: £816,169), are held in collective investmentfunds
comprislng a mix of investment classes. both by type and geography, as well as cash.
Overall, the portfolio achleved a break even of O.0%12021: a profit of 6.7%).
Thechaiity's investment portfolio is managed bySt.James Place. Corporate bond funds
retumed-3.696, mlxed assets retumed-l%, altematives returned1.4%, and equltyfunds
retumed 1.6%.The perf0mlan￿ of the Investment portfolio is measured with reference
to CPI on a rolling three-year basis. The average annual retum on the portfolio over
the last three years was 0.2%, compared to CPI at 3.1%. There are no investment policy
trictions.The retuinsfrom the investment portfolio provides funding to make grants
to familles wlth slck thildren, grants and donations of £79,245 were Issued in the year
(2021: £39,876).
The Charws income is also supplemented bydonations received from third parties and
the related WPA Group. donatlons of £56.867 were received in the year12021: £5,059).
The role of liaising wlth soclal workers and almoners, through whom the majorty of the
requests for resources of the Charity are re￿ived. is carried out pro bono by employees
of Western Provldent Assoaation Limited IUIPA.). The financial management of the
Charity was slmllarly taken on by employees of WP& working in thelr own tlme ortime
donated by WP
The Charlty continued to fund travelling expenses incurred by parents of sick thildren
in visltlng theirchildren ortaking theirchildren to hospltal fortreatment. In the yearto 5
Aprll 2021167 grants have been madeforthis purpose (2021: 761, from the unrestrlcted
fund, amounting to £78,24512021: £38,876).
The Trustee consklers that the activlties represent a satisfactory performance against
the Charltys objectives.

WPACHARrrABLE FOUNDATION
Trustee's Report
continued
The Charlty expects to continue the artivitie5 Outllned above in forthcoming years.
Strurturei governance and management
The WPA Benevolent Foundation Limited, a company limited by guarantee, is the
Trustee of the Charlty. The names of the Director5 of The WPA Benevolent Foundation
Umlted at year end and the prlncipal office of the tharity are set out on page 2.
New Dlrectors, appolnted by existing Dlrectors, are known to the Company as being of
sound repute and integrity.
Newly appointed Dirertors to the Corporate Trustee benefit from an inductlon pro￿55.
The induction pack includes an overview of the structure and interplay between the
Charity and the Corporate Trustee, a brief history of the Charity induding its governing
documents and a focus on Its purpose, Copies of Trustee Board and Charity Meeting
packs are provided for the preceding 18 months along with the most recent audited
report and accounts for both entities. Addltlonally, the Charity Commission s trustee
duty requirements are outlined along with an overview of recent interactions with the
Commission.
TheTrustee hasa standing practiceoftaking advi￿froM external Independentadvisors,
as appropriate.
The Goveming Instruments comprise of the Deed of Twst and Special Resolution
establlshed on 31 December 1969 as amended by the Sthemes of 11 November1976
and 11 August 1992.
Decisions relatlng to the Charity are made by the Trustee. Meetings of the Trustee are
held durlng the year to agree the broad strategy of the Charity and to consider the
making of grants, Investments, Teserves and risk management. The Tw5tee receives
regular reports on the perf0mlan￿ of the Investment portfolio.

WPA CHARThLE FOUNDATION
Trustee's Report
continued
Riskmanagement
The Trustee considers that the principal risk faced by the Charlty Is the financial risk
arising from the investments held by the Charity. Investment assets are monitored to
ensure that they meet the aims and objectives of the Charity,. data from investment
managers Is used to assist with this. Equity risk is managed through the careful selection
of Investment managers who have a sound track record and expertlse in their chosen
sector or geography. The financial assets are diverslfied to protect against adverse
market movements in any one asset class or geographic locatlon.
Approved by the Corporate Trustee and signed on its behalf by.
io<È__
A.C.B MacEwan
Director of the Corporate Trustee
14 October 2022

WPACHARtrABLE FOUNDATION
Trustee's Responsibilities
for the year ended 5 April 2022
Charity law requires theTrustee to prepare accounts for each financial period that give a
true and fair view of the state of affair5 of the Charity as at the end of thefinancial period
and of the incoming resource5 and appllcation of resources for the year.
In preparing these accounts, the Trustee is requlred to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles of the SORP,.
make adjustments and estimates that a￿ reasonable and prudent;
prepare the accounts on the going concern basls unless it Is Inappropriate to
presume that the Charty will continue in operatlon.
The Trustee is responsible for keeping proper accounting records that disclose with
reasonable accuracy at any tlme the financial position of the Charty and enable them to
ensure that the accounts comply with the Charities Act 2011 and the Charity IAccounts
& Reports) Regulations 2008. They are also responsible for safeguarding the assets of
the Charity and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities. The Trustee confirms that the accounts comply with
current statutory requirements and those of the Charity s trust deed.
Signed on behalf of the Corporate Trustee by..
14rf~a_
14 October 2022

WPA CHARrrABLE FOUNDATION
Independent Auditor's Report to the
Trustee of WPA Charitable Foundation
Oplnlon
We have audited the financial statements of WPA Charitsble Foundation Ithe°ChariY)
for the year ended 5 April 2022, whith comprfse the Statement of Financial Activities,
the Balance Sheet, the Statement of Cash Flow5, and Notes to the Financial Statements,
including a summary of slgnificant accounting policles. The financial reporting
framework that has been applled in thelr preparation Is appllcable law and United
Kingdom Accounting Standard5, including FRS 102 The Flnancial Reporting Standard
applicable in the UK and Republic of Irdand, (United Klngdom Generally Accepted
Accounting Practice).
In our opinion the financial statements"
give a true and falr view of the state of the CharIt￿S affairs as at 5 Aprll 2022 and of
its income and expenditure forthe yearthen ended;
have been properly prepared in accordance with United Klngdom Generally
Accepted Accounting Pract1￿ and
have been prepared In accordance wlth the iequirements of the Charities Act 2011.
Ba$is for oplnlon
We conducted our audlt In accordance wlth Internatlonal Standards on Auditing (UK)
{ISAs IUK)) and appllcable law. Our responslblllties under those standards are further
described in the Auditor's responsibilities for the audit of the financial statements
section of our report. We are independent of the Charty in accordan￿ with the ethical
requlrementsthatarerelevanttoouraudltofthefinanaal statements intheULincluding
the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbllities
In accordance with these requirements. We believe that the audlt evidence we have
obtained is sufficient and appropriate to provide a basls for our opinion.
Conclusions relatlng to golng concern
In auditing the financlal statements, we have concluded that the Trustees, use of the
going concem basis of accounting in the preparation of the financial statements
appropriate.
Based on theworkwe have perfonned, we have notldentffied anymaterlal uncertainties
relating to events or conditions that, individually or collectively. may cast signfficant
doubt on the Charitys abillty to continue as a golng concem for a period of at least
twelve months from when the original financlal statements were authorised for issue.
Our responsibilities and the responslbllities of the Trustee5 with respect to going
concern are described in the relevant sections of thls report.

WPA CHARThLE FOUNDATION
Independent Auditor's Report to the
Trustee of WPA Charitable Foundation
continued
Other Infomiatlon
TheTrvstees are respon5iblefortheother infonnatlon. The otherinfom)ation comprises
the infomiation included in the annual report, other than the financlal statements and
our audttor's report thereon. Our opinion on the financial statements does not cover
the other information and, exceptto the extent otherwise expllcitly stated in our reporL
we do not expre55 anyform of assurance concluslon thereon.
In connection with our audlt of thefinandal ststements. our responsibilty is to read the
other Information and in doing so, considerwhetherthe other information is materially
inconsistent with the financlal statements or our knowledge obtained in the audit or
otherwise appearsto be matsrially misststed. If we identlfysuch material inconslstencies
or apparent material misststements, we are required to determine whether there is
material misstatement in the financial statements or a material misstatement of the
other infomiation. If, based on the work we have performed, we conclude that there is
a materlal misstatement of thls other informatlorn we are required to report that fact.
We have nothing to report In thls regard.
Matters on whl¢h we are requlred to report by exceptlon
In the light of our knowledge and understanding of the Charity armd its environment
obtained in the course of the audiL we have not identlfied material misststements in
the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the
Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. In our
opinlon:
the infomiation given In the Trustees, Report Is Inconslstent In any materlal respect
with the financial statements,, or
sufficient accounting records have not been kept. or
the financial statement5 are not in agreement with the accounting records; or
have not received all the Information and explanatlons we requireforouraudit
R•sponslbllltles of the Trustee
As explained more fully in the Statement of Trustees. Responsibilities set out on page
8, the TNstees are responsible for the preparation of the financial staternents and for
being satisfied that they give a true and fair view, and for suth internal control as the
Trustees determine Is necessary to enable the preparation of financial statements that
are free from material misStatemen( whether due to fraud or error.
10

WPAcHAR￿LE FOUNDATION
Independent Auditor's Report to the
Trustee of WPA Charitable Foundation
continued
In preparing the financial statements, the Trustee5 are responslble for assessing the
Charitys ability to continue as a going concern, discloslng, as applicable, matters
related to going concern and using the going concern ba515 of accounting unless the
Trustees elther intend to liquldate the Charity orto cease operations, or have no realistic
altemative but to do so.
Audltors, responsibllltles forthe audlt of the flnanclal statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and
report In accordance wlth the Art and relevant regulations made or havlng effect
thereunder.
Our objectives are to obtain reasonable assurance aboirt whether the financial
Statsments as a whole are free from material misstatement, whether due to fraud or
error, and to Issue an auditorfs reportthat includes our opinion. Reasonable assurance Is
a high level of assuran￿, but is not a guarantee that an audit condurted in accordance
with ISAS (UK) will always detect a rnaterial misstatement when it exists. Misststement5
can arise from fraud or error and are consldered materlal if, individualty or in the
aggregate, they could reasonably be expected to influence the economlc decisions of
users tsken on the basis of these financial statements.
Irregularities, induding fraud, are instsnces of non-compllano with laws and
regulations. We deslgn procedures In Ilne with our responsibilities, outlined above, to
detect rnaterlal misstatements In respect of irregularlties, including fraud. The extentto
whlch our procedures are capable of detecting Irregularities, including fraud is detailed
below.

WPACHARtrABLE FOUNDATION
Independent Auditor's Report to the
Trustee of WPA Charitable Foundation
continued
As part of ouraudit planning, we obtalned an understanding of the legal and regulatory
frameworkthat is applicableto the Charity. We galned an understanding of the industry
in whlch the Charity operates as part of thi5 asse55ment to identify the key laws and
regulations affecting the Charty, As part of this, we reviewed the Charity's website for
Indicatlon of any regulatlons and certffication in place and discussed these with the
relevant Individuals responsible for compliance. The key regulations we identified were
health and safety regulations and breaches of The General Dats Protection Regulation
I°GDPR'). We also considered those laws and regulatlons that have a dlrett impact on
the preparation of the financial statements such as the Charltles Act 2011.
We discussed wth management how the compliance with these laws and regulations
is monitored and discussed policies and Pro￿dureS in place. A5 part of our planning
procedures, we assessed the risk of any non-compllance with laws and regulations on
the Charity's ability to continue operating and the rlsk of material mlsstatement to the
accounts. Based on this understanding we designed our audlt prO￿dureS to identlfy
non-compliancewith such lawsand regulations. Our procedures involved thefollowlng:
Enqulrles of management regarding their knowledge of any non<0mplian￿ with
laws and regulations that could affect the financial statements.
Revlewlng the Charty's GDPR policy and enquiries of the Charty s compliance
officer as to the occurrence and outcome of ary reportable breaches.
Reviewing legal and professional costs to identify any possible non-compliance or
legal costs in respect of non-compliance.
As part of our enquirles, we dlscussed wth management whether there had been any
instances of known or allegedfraud, of which management confirmed therewere none.
We assessed the susoptibility of the financial ststements to material misstatement
through management override or fraud, including in relation to cash income and
expendlture, and obtained an understanding of the controls in place to MIt￿ate the risk
of fraud. We also evaluated management s Incentives and opportunities for fraudulent
manipulation of the financial statements. Based upon our understanding we designed
and condurted audit procedures including:
Auditing the risk of management override of controls, includlng through testing
journal entries and other adjustments for approprlatene55, and evaluating the
buslnes5 rationale of significanttransactions outsidethe normal courseof business.
R￿leWIng estimates and Judgements made in the accounts for any indication of
bias and challenged assumptions used by management in making the estimates.
12

WPA CHARrfABLE FouNDAllON
Independent Auditor's Report to the
Trustee of WPA Charitable Foundation
continued
Because of the inherent limitations of an audi¢ there is a risk that we will not detert
all Irregularities. Including those leading to a material misstatement in the financial
statements. Thi5 risk increases the further removed non<ompliance wfth law5 and
regulation5 is from the events and transactions refiected in the financial statements
as we are less Ilkely to become aware of Instances of non-compllance. The rlsk of not
detecting a material misstatement due to fraud is higher than the risk of rM)t detecting
one resulting from error, as fraud may involve dellberate concealment, collusion,
omlsslon or misrepresentation.
A further descrlption of our responsibilities for the audit of the financial statements
is located on the Flnanclal Reportlng Councils website at www.frc.org.ukl
audltorsresponsibilltles. This descriptlon forms part of our auditorfs reporL
Use of our report
This report Is made solely to the Charitys Trustees, as a body, in accordance wlth
Part 4 of the Charltle5 (Accounts and Reports) Regulation5 2008. Our audit work has
been undertaken 50 that we mlght state to the Charity's Trustees those matters wè
are requlred to State to them In an audltorfs report and for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibilty to anyone
other than the Charity's Trustees as a body, for our audlt worl forthis report, or forthe
opinions we have formed.
PKF Francis Clark, StatLrtory Auditor
Blackbrook Gate I
Blackbrix>k Park
Taunton
Somerset
TAI 2PX
PKF Franci5 Clark is eligible for appointment as auditor of the Charity by vlrtue of Its
ellgibiltyforappolntmentasauditorof a companyundersection 1212oftheCompanies
Act 2006.
13

WPA CHARfrABLE FouNDAllON
Statement of Financial Activities
(including income and expenditure account)
for the year ended 5 April 2022
Unrestrl<t•d R•stslct
Fund5
Funds
2022
2022
Total
Tot*1
Funds Fmds
2022
2021
Notes
Ineom•
Donations
Investment income
11bl,5,14
Ilc)
56A67
10565
56,867
10.565
5IJ59
6557
Totsl th¢om•
67A32
67A32
Exp•ndllure ¢)h r•lsM¥ funds
Irbvestment management costs
208
Grdnts and donations issued
Ild),7
Managementand admknistration costs Ilel,8.14
78,245
IOA85
I,￿0
79,245
10,510
39.976
88,730
1,025
89,755
44764
Totsl exp•ndlthre
88,938
1,025
89,963
49.275
N•tgalnslO055•5)
on lThvestmthts
Realised gains/llossesl on Investments i(f),9
unrealisedlbsse5ygainsoninvestments I (fl,9
Total n*t110ss•511galns
on Investmnts
N•t{txpend1￿r•}1lnMm••olthe
ymrand n•tmoV•mwrtlnf￿d%
2A32
(7,6321
11510)
54827
17k+321
152001
15,2001
53.317
(26.7061
11,0251 127,7311
15￿58
R•concllladon of fvnd&'
Totsl funds brought fO￿ard
13
n5,721
94,676
820397 804739
Totsl fundsnrr1ed1on￿rt1
13
699,015
93,651
792,666 820,397
The Statement of Flnancial AcUvltie5 include5 all gains and losses recognised in the yearto 5 April 2021
The notes on pages 17to 23 form partof these accounts.
14

WPACHARrrABLE FOUNDATION
Balance Sheet
as at 5 April 2022
as*
5 Apyll
2023
asat
S Aprll
2021
Notes
Investments Un￿striCted
1ft￿tments Restrlcted
655,171
721A93
749,847
816.169
Debtor5 Unrestrlcred
Cash at bank Unrestricted
Cash at bank Restrlcted
3,141
45208
830
8245
47324
9JJ75
Uabllltles
Creditors falling duewlrhin one year
Net¢urr•nt •ss•ts
05
41819
42
Totsl nata￿ets
791606
820.397
Th•funds olth•Charlty
Unrestricred furid
Restricted fund
IU),13
699M15
93h51
72S,721
94￿76
Tot•1 <harltyfvnd5
792,666
820,397
The accounts on pages 14 to 23 were approved by the Board of the CofporateTrustee
on 14 October 2022 and were slgned on its behalf by.
On behalf of the CorporateTrustee
Charity Registratlon Number 230151
The notes on pages 17 to 23 form part of these accounts.
15

WPACHA￿TABLE FOUNDATION
Statement of Cash Flows
for the year ended 5 April 2022
2022
2011
Cash iiows us•d in op•rallng acdvltles
(35,7491
(41,9051
N•1 cashllows from op•r•tlng •cllvlll•s
{35.7491
141.9051
Cash Ilowsfrom Inv•sdnga¢llvhl•s
Cash placed on deposit
sh receipts from dfvidends and interest
66,583
5,104
4J63
N•tcashllowsprovldqd fromlltol Invesllng acllvttl•s
71A87
4563
Net dKrea5• In cash and ash equlval•nts
Cash and cash eqijlvalents at beginning of the perk)d
35.938
8245
1>7.3421
45,587
Cash and eash •qufvalentsat end of th• p•Tlod
44,183
8J45
Notestothè stat¢m•nt of cash flows
N•t l•xp•ndlthr•Vlhcom• forth•y•*r
Adjustments for..
- L¢sse511gainsl on investments
- Net investment retum tstalned wth invesmient managers
- Ilncreasel/decrease in trade and other receivables
- IDecrease)fincrea5e in trade and other payables
(27.7311
15M58
52
{105651
123111
(3421
153,317)
16,557)
1A42
Cath used In op•r*io
{35.7491
141,9051
16

WPACHARtrABLE FouNDAllON
Notes to the Accounts
for the year ended 5 April 2022
1 A￿OUntIng pollcles
The accounts have been prepared in accordan￿ with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing thelr
accounts In accordance wlth the Financial Reporting Standard applicable in the UK and
Republlc of Ireland IFRS 102) {effertive 1 January 2019)- (Charities SORP IFRS 102)). the
Financlal Reporting Standard appllcable In the UKand Republic of Ireland IFRS 1021, and
the Charities Act 2011.
A summary of the accounting pollaes, which have been applied consistently. Is set out
below.
la) Basls of accountlng
The accounts are prepared In accordance wlth the historical c05t conventlon.
The accounts have been presentsd on a going concem basis as the Trustee believes
the Charlty has Sufficient resour￿5 to pay Its liabilities as theyfall duefor a period of
at least twelve months from the date of issue.
WPA Charltsble Foundation meets the definition of a public benefft entity under
FRS 102. Assets and liabilities are initially recognised at historical cost ortransactlon
value unless otherwise stated In the relevant accounting pollcy note.
The accounts are presented In pounds Sterling which is also the functional currency
of the Charlty.
(b) Donatlons and glfts
Cash donations and gifts are accounted for when recelvable. Non-monetsry gifts
and donatlons are included as Income at a ￿aSonable estimate of the asset's cu￿ent
value to the Charty.
(c) Inv•skn•nt Incom•
Investment income and interest on the Statement of Flnancial Attlvltles comprises
bank interest and dividend income, which is Included on the Ststement of Financial
Activitles as they accrue to the Charity.
Id) Grants and donatlons Issued
Grants Issued are accounted for when approved. All grants are for the benefit of
Indlvldua15 and generally do not exceed £lmO.
17

WPACHARtrABLE FOUNDATION
Notes to the Accounts
continued
(•) Management and admlnlstratlon costs
Management and adminlstration costs are accounted for on an accruals
basls. Administration servlces donated by WPA are included in donations and
administration costs at an estimate of their open market value.
(f) Inv•stments
Investments are comprised of collective investment funds and cash depO￿ts held
for investment purpose5. Investments are held at market value, as advlsed by the
investment managers. Gains and losses on realisatlon and changes in falr value are
disdosed on the Statement of Finandal Activities.
(g) IrrKoverable VAT
I￿eCOVerable VAT Is d)arged to the Statement of Finanaal Activities.
(h} Recognltlon of Ilabllltles
Liabilities are recognised when an obligation arises to transfer economic benefits as
a result of past transactions or events.
ri) Fund accountlng
Unrestricted funds comprise accumulated surpluses and deficlts on general funds.
They are available ft)r use at the discretion of the Trustee in furtherance of the
general obJectlve5 of the Charlty. Restrlcted funds arefunds whlch are to be used in
accordance wlth specific restrictlons Imposed bythe donor.The alm of the restrlcted
fund Is set out in note 13.
2 SlgnlfianlJudgem•nts and •stimates
There are no significant Judgements or estimates within these accounts. The estimate
of the value of adminlstration services received is recognised In both income and
expenditure and therefore has a nil net impact on the resultfor the period. The value is
based on an estlmated salary plus overhead cost.
3 Audltor remuneratlon
2022
2021
Audit of accounts
4092
18

WPA CHARtrABLE FouNDAllON
Notes to the Accounts
continued
4 TNst••'s remuneratlon and expens•s
There wa5 no remuneratlon for the Trustee in the year12021: nil) and there was no
reimbursement for Trustee expenses.
No remuneratlon was paid to key management personnel in the year {2021: nil).
5 Doiiatlons
Vnr•strkt•d Restrl¢ted
Funds
Funds
2022
2022
Funds
2022
Fuhds
2021
Gits
D0Tr3ted services
50,907
5,960
So,￿7
326
4,733
326
4.733
$6A67
56.867
Unr•5tr1CI￿ R•strlct•d
Funds
Funds
2022
2022
Funds
2022
Funds
2021
2021
Investment Interest
&dividends
Bank Intsrest
10,555
10555
6557
6557
io
10
1￿$65
10,565
6A57
6J57
7 Grnnts and donatlons Issued
Unr•5tr1rt•d R•strld•d
Funds
Funds
2022
2022
Funds
2022
Funds
Funds
Funds
2021
Grants issued
78245
1,000
79245
38,876
1,000
39,876
19

WPAcHAR￿LE FOUNDATION
Notes to the Accounts
continued
8 Man•g•m•nt and admlnlstratlon
T4)tal
Funds
2021
Funds
2022
Funds
2022
Funds
2021
Funds
2022
Administration
Bankcharge5
Audit fees
5,960
37
4A88
5,985
37
4,488
4.733
38
4m2
4,758
38
iOA85
25
10.510
8063
Included in management and administration are govemance costs of £4A88 12021:
£4,092).
9 N•t gainslllosAs) on Inv•$tm•nts
Funds
2012
Funds
2022
Fund5
20LI
Funds
2021
Funds
2021
2021
Realised galns1
Ilossesl on
InvesDnents
2rt32
11.5101
l? J10}
Uniealis
005sesl/gains on
investments
(7h32)
17,6321
54827
54027
15aooi
IsJooi
53J17
53,317

WPA CHARtrABLE FOUNDATION
Notes to the Accounts
continued
10 Inv•stm•nts
B•lanc• Purd••ses
at6 Aprfl
Sal•s Rdnv•51•d Chahg•s B•lanr•
2021
at<05t proueds Incom• lnrn4￿t at5Aprll
value
2012
SL Jamegs Place
Investment- Quoted
Iunrestrictedl
St. Jamegs Pla
Investment- Restritted
254908
4&5,741
4.958
1122191
654388
94,676
94.676
Hargreaves Lansdown-
Quoted (Unrestricted)
Hargreaves Lansdown-
Unresrricted Cash
88A18
394
1962311
7,019
377.767
(376.9841
783
Hargreaves Lansdown-
Restricted Cash
94fi76
194,6761
81&169
501,811 {567,8911
4.938
{5,200) 749.847
2022
Historical cosr at perfod end
St.Jamgs lace Investment-Quoted (Unrestrlc¢ed)
Hargreaves Lansdown- Qwted Iunrestrlcted)
748,991
256286
89￿72
748.991
345.9S8
All quoted investments are establlshed in the UL
11 Dobtors
2022
2021
Interest
Investment Income
Prepaymen
3.116
16
814
16
3.141
21

WPAcHAR￿LE FOUNDATION
Notes to the Accounts
continued
12 Credltor& amounts falllng du• wlthln on• y•ar
2022
1021
Trade creditors
Accruals and deferred income
4,502
4505
4047
13 Analysls of n•t a55•ts
UnMstrl¢ted Rel￿ded
Fund5
Funds
Total
Funds
Investsnents at marketvalue."
SLJ8mes¥ Aace 5nvestment
Hargreaves Lansdown cash
654388
783
94fi76
749.064
783
655.171
9V76
749A47
Debtor%
Interest
Investment income
Prepayments
Cash at bank
Credthrs.. amountsfalling due ￿thin oneyear
3.116
16
45208
14,5051
3.116
16
44.183
14505)
{1,0251
TotalfwK15 at5Aprll 2021
699015
93.651
791666
Total fuhds at5 Aprll 2Q21
725.721
94676
820,397
Funds orfglnate from three legacles, one of whkh Is restrlcted. The income from
the restrlcted fund is to be used for the benefft of Inhabltants of PickwicK Corsham,
Wiltshire, who experience hardship through ill health, as nominated by Corsham Parish
Council. In the event there are no longer any such inhabitants then the fund becomes
a °gift in defaulv to be used for the wider purposes of the WPA Charitable Foundation.
The other two legacles were amalgamated in 2010 and form the unrestricted funds of
the Charlty and default to the general purposes of the Charlty.

## **WPA Charitable Foundation** 

## **Notes to the Accounts** continued 

## **14  Related party transactions** 

The WPA Benevolent Foundation Limited is the corporate trustee of WPA Charitable Foundation. The WPA Benevolent Foundation made £50,000 during the year (2021: £0). Western Provident Associated Limited (WPA) made donations amounting to £2 (2021: £25). There were no balances outstanding at the period end (2021: no balances outstanding). 

Western Provident Association Limited also donated administration and management services. The value of these services has been estimated at £5,960 (2021: £4,733), and has been included within donations and administration. 

## **15 Taxation** 

WPA Charitable Foundation is a registered charity and tax exemption applies to the income arising from, and expended on, charitable activities and to any investment income and gains. 

23 



## **WPA Charitable Foundation** 

Foundation House, Culmhead, Taunton, Somerset, TA3 7DY Email: info@wpafoundation.org.uk 

Registered Charity no. 230151 

© WPA Charitable Foundation 2022. All rights reserved. 

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of WPA Charitable Foundation. 08/220789 

**2022**