Charity number- 262251 DAME VIOLET WILLS - WILL TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
DAME VIOLET WILLS . WILL TRUST CONTENTS Page R8ference and Administrative Details of the Charity. its Trusteos and Adviser5 Trust¢¢s' Report Indopendent Audltors. Report on the Financial Ststements Statemènt of Financial Activltles Balance Sheet Notes to the Financial Statements 10-17
DAME VIOLET WILLS - WILL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 Trustees Mr T J Baines. Chaimian Mr C M C Naughton Mr C R G Biggin Charity registered number 262251 Principal olfi¢o Red Roofs Slalion Road Flax Bourton North Somerset 8S48 1UA Indopendent auditors Lawes & Co UK Limited Boyce's Building 42 Regent Street Clifton Bristol BS8 4HU Bankers Triodos Bank Deanery Road Bristol BS15AS Inveslment Adviser Smith & Williamson Poth3U Lane Brislo 8S16NA Pe1
DAME VIOLET WILLS -WILL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees p¥esenl their annual report together with the audited financial statements of the Charity for Ihe 1 April 2020 to 31 March 2021. The accounts have been prepared in accordance with the accounting policies sel out in note I to the accounts and comply wilh the Charity's Trust Deed, the Charities Act 2011 and the Slalemenl ot Recommended Pradice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and the Republic of Ireland IFRS 1021. Objedives and activities Main aGtivitles undertaken to further the Charity's purposes for the publlc bonefit The Trust was established under the will of the late Dame Violet Wills, who died on the 26th October 1964. In it she left the residue of her estate lo her Trustees, gtving them absolute discretion to make such gift5 lo Gharilable nslilulions, or for charitable purposes, 8S thèy see fil, out of income or Gapilal. She expressed the desire that the Trustees should have special regard lo those ¢harilable organisations and subjects with which she had been particularly concemed during her lifetime. The Trustees have determined that the original capital endowment, as augmented by capilsl profits, shall be retained as a Capital Fund, and that grants and other expenditur8 of the Trust should generally be met from accumulated income. Achievements and performance a, Review of a¢tiviti8S During the year. the Trustees made 44 grant8 lolalling £78,362 12020.. 62 gr8nts Id811ing £103,230). The Trustées have followed a policy of gsving a smaller number ol larger grants than in previous years, with grant applications from organisalions working in thé fields of children and mediGal Pfeferred, ideally with a direct link lo the BTiStollGloucest@rshire/Somersel area. The net income for the year has been added lo reserves. ReseFve8 rernain above the minimum level set by the Trustees, namely one year's grants. The Trustees confirm that they hav8 complied with their duly in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by Ihe Charity Commission for England and Wales. b. Investment policy and performance The Deed of Trust empowers the Trustees lo relain any inveslrnenls held al Dame Wiolel's death. OlhenNise the Tlustees are not subjed to any restrictions in relation to the management of the investments. The Trust's investment portfolio recoréed a gain in value of £692,937 12020.. loss of £522,375). Flnanclal revEew . Golng Concern After making appropriate enquiries, the Tnjstees have a reasonable expectation that the Trust has adequate r8sourc@s lo continLte in opefational existen for the foreseé8ble future. The Trustees are aware ol the impact of COVID in relation to the need of our gTanlees. The Trust has investments and does not rely on external funders. Trustees will only make grants to lh8 lèvel of available funds. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Page 2
DAME VIOLET WILLS - WILL TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 b. Reserves policy The TTuslees do not intend to accumulate income in the future, bul believe that they should ret8in SLJfficienl accumulated income from past years lo meet the approximate18vel of grants for one year. At the year end the balance on the unreslricled funds was £188,696 (2020.. £164,603) and on the endowment fund the balance was £3.583,482 (2020.. £2,904. T52). Total funds were £3,772,178 (2020.. £3,069,355). Structure. governance and management Constitutio The charity is conlTolled by its governing document, a Deed of Trust, and Gonstilules an unincorporated charity. b. Method$ of appointment or election of Trustees Trustees are appointed lo fill any vacancy that 0urS. the optimum number being reg8rd@d as three. New Trustees are briefed by continuin9 Trustee5 regarding the history and objectives of the Trust. c. Organisational structure and decision-making pollcles The Trustees meet three or four times a year lo consider grant applications, and conduct any other business. On occasion decisions are made following telephone meetings. The Deed of Trust empowers the Trustee5 to charge for their professional lime expended on Trust affairs. d. Finan¢ial risk management The Trustees have considered the risks lo which the Trust is exposed and consider that the proceéures in force are sufficient to manage the foreseeable risks. In considering the Trust's activities. the Trustees have had regard to the Charity Commission's guidan on public benefit. Plans for future periods The Trust wtrll continue lo make grants in line with its objectives. Page 3
DAME VIOLET WILLS- WILL TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 statement of Trustees. responslbllStSes The Trustees are responsible for prepaiing the Trustees, Report and Ihe fin8ncial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PraGtice). The law applicable to charities in England & Wales requires the Trustees lo prepaie financial statements for each financial which give a true and fair view of the slate of affaiis of the Charity and of its incoming resources and application of resources, including ils income and expenditure. for that period. In preparing these financial slatemenls, the Trustees are required lo., select suitable accounting policies and then apply them Consistently., observe the methods and principles of the Charities SORP {FRS 1021., make judgements and accounting estimates that are reasonable and prud8nL stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material departures disclosed and explained in the financial stalemenls.. prepare the financial statements on the going concem basis unless11 is inapproFyiate to presume that the Charity will conts'nue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charills transactions and dSsclose with reasonable curacY at any lime the financial position of the Charity and enable them lo ensure that the fin8nci81 statements comply with the Charities A¢t 2011. the Charty IAc¢ounls and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding ltte assels of the Charity and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosurè of infomiation to auditors Each of the persons itho are Trustees al the time when this Trustees. Report is approved has conf1mied thal= so far as that Trustee is aware, there 18 no relevant audit infomialion of which the charity's auditors are unaware. and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and lo establish that the charity's auditors are aware of that information. Approved by order of the members of the board of Trustee8 and signed on their behalf by.. TJ 8alnes Chairrnan D8le.' 27 January 2022 Page 4
DAME VIOLET WILLS - WILL TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF DAME VIOLET WILLS - WILL TRUST Opinion We have audited the financial statements of Dame Violet Wills Will Trust Ithe 'chaiily'l for the year ended 31 March 2021 which comprise the Slalemenl ol Financial Aclivilies, the Balance Sheet, the Slalement of Cash Flows and the related notes, including 8 summary of significant accounting policies. The financial reporting frarnework that has been applied in their prepafalion is applicable law 8nd United Kingdorn Accounting Standards, including Financial Reporting Standard 102 'Thè Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. The financial statements have been prepared in accordance with Accounting and Reporting by Charities prèparing their accounts in accordan with Ihe Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities." Slatemenl of Recommended Pracli¢e issued on 1 April 25 which Is referred lo in the extant regulations but has bean withdrawn. This has been done in order for the accounts ID provide a true and fair view in accordance with the Generally Accepted Accounting Pracbce effective for reporting periods beginning on or after 1 January 2015. In our opinion the flnancial statements= give a Iwe and lair view of the state of the charity's affairs as at 31 March 2021 and of ils incoming resources and application of iesources for the year then ended., have been properly prepared in accordan with United Kingdom Generally Atpted Accounting Practice,. and have beèn prepared in accordan with the requirements of the Charities Act 2011. Basis for opinlon We conducted o¢Jr audit in accordance wlh International Standards on Auditing {UK) {ISAs {UKII and applicable law. Our responsibilities under those standards are further describéd in the Auditors, responsibilities for the audit of the financial slalemenls section of our r8port. We are independent of the charity in accordance with the ethical requirements Ihal ar& relev2ril lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Slandgrd, and we have fulfilled our other ethical responsibilities in aGE0rdan with these requiréments. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the Trustees. use of the going concem basis of accounting in the preparation of the financial slalements is appropriate. 8as8d on the work we have performed, we have not identifted any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitls ability lo continuo as a going ncern for a perThl of at least Iwelve months from when the flnancial statements are aLÈthorÉsed for issue. Our responsibilities and the responsibilities of th8 Trustees wlh resped lo going ncern are described in the relevant sections of this report. Page 5
DAME VIOL WILLS- WILL TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF DAME VIOLET WILLS . WILL TRUST ICONTINUEDI Other information The other information comprises the information included ill the Annu81 Report other than the financial slalemenls and our Auditors. Report Ihereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial 51alemenls does not cover the other information and, except lo the extent olhetwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other Information and. in doing so. consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit, or olhepNi8e appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives nse lo a material misstalemenl in the rinanGial slalements themselves. If, based on the work we have performed, we Conclude that there is a material misstatement of this other inforrnation. we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charit$ (Accounts and Reports) Regulations 2008 requires us lo report to you if, in our opinion,. the infomialion given in the Trustees, Report is inconsislenl in any material respect with the financial slatemenls., or sufficient aGGounling records have not been képl., or the financial slalements are not in agreefflenl with the accounting records and returns., or we have not received all the infornialion and explan8lk)ns we require for our audit Responsibilities of trustees As explained more fully in the Trustees, Responsibiliti"es Statement, the Trustees are responsible f the preparation of th& financial slalemenls which give a true and fair vtew, and for such internal Gonlrol as the Trustees delermino is necessary lo enable the preparation of financial statements that are free from materh81 misstslement. whether due lo fraud or error. In preparing the financlal s181emenls, Ihe Trustees are responsible for assessing the chariivs ability to continue as a going Goncern, disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charity or lo cease operations. or have no realistic aEternalive but io do so. Audltors. responsibilltles for the audit of the finanGial stst¢ments We have been appointed as auditor tjnder section 145 of Ihe Charities Act 2011 and report in accordance with the Act and levant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about thether the financial slalemenls as a whole a free from material misslalem@nt, whether due lo fraud Of error, and lo issue an Auditors, Report Ihat indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUK will always detect a material misstatement when il exist5. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo intluence the economic decisions of users taken on the basis of these financial stslemenls. Irregularities. induding fraud, are instances of non<ompliance with laws and gUlations. We design procedures Page 6
DAME VIOLET WILLS - IMLL TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF DAME VIOLET WILLS. WILL TRUST {CONTINUEDI in line with r responsibilities. outlined above, lo delect materi81 misstaternents In respect of irregularities, including fraud. Thé èxtent lo which our procedures are capable of dele¢ling Irregularities, including fraud is detailed below.. We idenllfy and assess the iisks of missl8lemenl in the financial statements, whether due to fraud or error, and then design and perfomi aLJdil procedures responsive lo those risks. This includes assessing the risk of non- compliance ol laws and regulations and evaluating opportunities for fraudulent Manipulation ol the financial statements. Audit procedures perf0md by the engagement team, but were not limited lo.. Enquiries wilh man8gement in respect of any known or suspected instances of fraud and non-compliance wilh18ws and regulations. Reviewing underlying source documentation and tracing through to the accounting records. Reviewing Iransaclions to identify those that may appear outside expectations. A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial Reporting Council's website at.. MAvw.frc.or .uklaudilors¥es onsibililies. This description forms part of our Audiiots, Report. Use of our report This report is made solely lo the charity's Iruslees, as a bdy, in accordance with Part 4 of the Charities {A¢counts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charills trustees those matters we are required to slate lo them in an Auditors, R&port and for no other purpose. To the fullest extent permilled by law, we do not acp1 or assume responsibility lo anyone other than the charity and ils Iru51ees, as a body, for our audit work, for this report. or for the opinions we have fomied. Lawes & Co UK Limited BOY.5 Building 42 Regent Street Clifton Bristol BS8 4HU Date.. Lawes & Co UK Limited are eligible to act as auditors in terms of section 1212 01 the Companies Act 2006. Page 7
DAME VIOLET WILLS - WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Endowment funds funds 2021 2021 Total funds 2021 Total funds 2020 Note Income from: Investments 103,568 103.568 146. 737 Total income 103,568 103,568 146, 737 Expendlture on: Raising funds Charitable activities 14207 14.207 79.475 16,234 104,341 79.475 Total expenditure 79,475 14,207 93.682 120,575 Net incomellexpendlturel before net gainsl{lossesl on Investments Net gainslllossesl on investments 24,093 114.2071 692.937 9,886 692.937 26, 762 (522,3T5J 10 Net movement In funds 24.093 678,730 702,823 (496.213) Reconciliation of funds: Total funds brought fonmard Net movement in funds 164.603 24,093 2.904,752 678,730 3,069.355 702.823 3,565.568 (496,213J Total funds carried foN4ard 188,696 3.583,482 3,772,178 5,069,355 The notes on pages 1010 17 form part of these financial slalements. Pag¢ 8
DAME VIOLET WILLS-WILL TRUST BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Note Fixed assets Investments 10 3.583.293 2,890,356 3,583,293 2.890.356 Current assats Cash at bank and in hand 190,985 787,069 190,985 181,069 Creditors.. 8mounls falling due within one year 11 2.1001 (2,070) Net current assets 188,885 178,999 Totsl not assets 3,772.178 3,069,355 Charity funds Endowment funds Unrestricted funds 13 13 3,583,482 188,696 2,904, 752 164.603 Totsl funds 3.772,178 3,069,355 Th8 financial slalemenls were approved and aulhorised for issue by the Trusteos and signed on their behalf by.. Mr T J Baines Chairman Date.. 27 January 2022 The notes on page8 10 to 17 form part of these financial slalemenls. Page 9
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 General information Dame Violet Wills Will Trust is registered as an unincorporated charity with the Charity Commission in England and Wales Iregislralion number. 2622511. The address of ils registered office is 7 Christchurch Road, Clifton, Bristol, BS8 4EE. Accounting pollcles 2.1 Basis of preparatlon of flnancial statements The financial statements have been prepared in accordance wlh the CharTties SORP IFRS 11)21 Accounting and Reporting by Charities.. Statement of Recornmended Pmclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. the Financi81 Reporting Standard applicable in the UK and Republic OF Ireland IFRS 1021 and the Charities Act 2011. Dame Violet Wills Will Trust meet8 the definition of a publlc benefit enlily under FRS 102. Assets and liabilities are inilialty recognised al historical cost or transactian value unless olhenNise stated in the relevant accounting policy. 2.2 Golng concern After making appropriate enquiries. the Trustees have a reasonable expe¢tslion that the Tiusl has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about it's ability to eontinue. The Trust has investments and does not rely on external funders. Trusts will only make grants to the level of available lunds. For this reason they Continue to adopt the going concem basis in preparing the firn¢la1 slalemenls. 2.3 Income All income is recognised once the Challly ha8 enlillement lo the income. il is probable that th8 income will be re¢eived and the amount of income re1vable can be measuréd reliably. Income tax recoverable in r812tion to investment income is recognised at the lime the inve81ment income is receivable. 2.4 Expendlture Expenditure is accounted for on an accruals basis 8nd has been classified under headings that aggregate all costs related lo the calOry. Where c08ts cannot be directly atlribuled lo particular headings they have been allocated tO-acNilies on a basis ¢onsislent with tho use of resource. Grants offered subject lo wnditions which have not been mel al the year-end d8le ar8 noted as a commitment but not acclued as expenditure. Costs of generating fund8 are cosls incurred In 8ttr8cling voluntary income and investment management Costs. Charitable acliviti&s and Governan costs aro St$ incurred on the Trusts operations, including support costs and costs relaling lo the governance of the Trust apportioned lo charitable adivities. Page 10
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies {continuedl 2.4 Expendllure {continuedl Expenditure on charitable activities is incurred on directly undertaking the aclivilles which further the Charitys objectives. 89 well as any associated 8UPPOrt Costs. All expenditure is inclusive of irrecovwable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when re¢eiv8ble and the arllounl Can be measured reliably by the Charity.. this is normally upon notification of the interest paid or payable by the bAnk. 2.6 Taxation As a registered Charity, the Trust is 8ntilled lo laxalion exemptions on all income and gains properly applied for ils charitable purposes. 2.7 Investments Illveslments are a form of financial instrument and are initially recognised at their transa¢lion cost and subsequently measured at fair v81ue at the 8alance Sheet date using the closing quoted m8rkal price. The Statement of Financial Activities in¢ludes the nel gains and losses arising on revaluation and disposals throughout the year. 2.8 Cash at bank and in hand Cash al bank and in hand includes Cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisbtion or opening of Ihe deposit or similar account. 2.9 Liabilitles and provislons Liabilities are recognised when there is an obligation at the Balance Sheet date as a Tesult of a past 8venl, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl csn eslimaled reliably. Liabilities are recognised al the amount that the Charity 8nlicipales il will pay to settle the d8bt. 2.10 Financlal instruments The Charily only has financial assets and flnancial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial inslrL¢ments are inilialty recognis8d at transaction value and subsequently measured al their settlement value. 2.11 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtheranee of the general objective5 of the Charity and which have not been designated for other purposes. The Trustees have determined that the orfgin81 capital endowment, a8 augmented by capital profrts, sh811 be retained as 8 Capital Fund, and that grants and other expenditure of the Trust should generally be met from gccumulaled income. Page11
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Critical acGountlng estimates and arèas of Judgement Preparation of the financial statements requires the Trustees lo make any significant estimates and judgements where necessary. There were no significant estimates or judgements durtng this or the prior year. Investment Income Unrestrlcted funds 2021 Total funds 2021 Tolal funds 2020 Dividends Deposit account interest 103,286 282 103,286 282 148.392 345 103,568 103,568 146, 737 Tot812020 146, 737 146, 137 Investment management costs Endowment funds 2021 Total funds 2021 Total funds 2020 Investment management lees 14,207 14,207 16,234 Tolal 2020 16,234 16.234 Page 12
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analysis of expenditur& on charitable activities Summary by fund type Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Charitable activities 79,475 79,475 104,341 TotBI 2020 704,341 104.341 Artalysls of expenditure by activities Grant fundlng of a¢tlvlties 2021 Support costs 2021 Total funds 2021 Total furtds 2020 Charitable acliwtie8 78,362 1.fj13 79,475 104,341 Total 2020 103.230 I,Iti 104.341 During the year 44 (2020.. 62) individual donations were made ranging in value from £500 to £5,OLNJ. which were mainly for children's and medical charities. Due lo the number of donations il has been considered impractical to include a full lisl here. A full analysis of donations is available on request fr¢Jn the Trustees. All grants were to inslilulions. Analysis of support Costs Total funds 2021 Tot81 funds 2020 Bank charges Governance costs.. Auditorfs rernuneration Sundry Expenses 23 1,050 61 1,050 1,113 Page13
DAME VIOLET WILLS. WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2021 Audltors, remuneration 2021 2020 Fees payable lo the Charlly's auditor for the audit of the Charills annual accounts 1.050 1,050 Truste•s' remuneration and expenses During the year, no Trustees received any rémuneration or other benefit5 (2020- £NIL). During the year ended 31 March 2021, expenses totslling £40 were reimbuised lo 1 Twslee (2020- £NIL lo O Tnjslees) which relatèd to postage and slalionery. 10. Fixed a55et investments Llstsd Investments Valuatlon Al 1 April 2020 Revaluations 2,890,356 692.937 At 31 Marth 2021 3,S83,293 11. Creditors: Amounts falling due within ono year 2021 2020 Acuuals 2,100 2,OTO Page 14
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 12. Financial Instruments 2021 2020 Financial ass$ts Financial assets measured al fair value through income and expenditure 3,583,293 2,890.356 Financial assets measured al fair value through income and expenditure comprise listed inveslmenl8. 13. Statement of funds Ststement of funds - current year Balance at 31 March 2021 Balance at I April 2020 Gainsl (Losses) InGomo Expenditure Unrestricted funds General Fund 164.603 103,568 179.4751 188,696 Endowment funds Enéowmenl Fund 2,904,752 114,2071 692,937 3,583,482 Total of funds 3,089,355 103,568 193,682} 692,937 3,772,178 Page15
DAME VIOLET WILLS . WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 13. Ststsment of funds Icontinuedl ststement of funds - prlor year 3918nc8 al 31 March 2020 Balance att l April 2019 Transfers in/oul Gainsl (Losses) Income Expenditu Unrestrl¢ted funds General Fund 202,605 146, 737 {104.341) (80,398) 164,603 Endovfflient funds Endowment Fund 3,362.963 (16,234) 80,398 (522,375J 2,904, 752 Total of funds 3,565,568 146, 737 (120.575) (522,375) 3,069,355 The Trustees have determined that the original capital endowment, as augmented by capital profits, shall b8 retained as a Capital Fund, and that grants and other expenditure of the Trust should generally be mel from a¢cumulaled income. During the year £Nil (2020.. £7&000) was transferred into the investment acmunt. £Nil f2020..£5,398) investment income was also retained within the investrnenl account. 14. Analy518 of net assets between funds Analysis of net assets between funds - current year Unrestricted Endowment funds funds 2021 2021 Total funds 2021 Fixed 8ss8I investments Current assets Credi1013 due wlhin one year 3,583,293 189 3.583.293 190.985 {2.1001 190,796 {2,1001 Total 188,696 3.583,482 3.772,178 Page18
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Analysis of net assets between funds Icontinuedl Analysls of net assets between funds - prior year Unreslricled Endowment funds funcls 2020 2020 Tolal funds 2020 Fixed asset investments Current as5etS Creditors due wlhin ¢e year 2,890,356 14,396 2,890,556 f8q.069 (2,070) 166,673 {2,070J Total 164,603 2,904, 752 3.069.555 15. Related party transactions There were no related paty Iransadicns during this or the prior year. Pase17