REGISTERED CHARITY NUMBER: 262251 EPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR DAME VIOLET WILLS - WILL TRUST Lawes & Co UK Llmited (Statutory Auditors) 8oyce's Building 4042 Regent Street Clifton Bristol BS8 4HU
DAME VI WILLS - WILL TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Report of the Trustees Rpport of the Independent Audltors statement of Financlal Actlvlties Balance Sheet 10 Notes to the Flnanclal Statements 11 10 18 Detailed Statement of Flnancial Actlvltles 19
DANE VIOLET WILLS- WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARC 2022 The trustees present their report with the financial statements of the charlty for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and 9epublic of Ireland IFRS 102) {effective 1 January 2019>. OBJECTIVES AND ACTIVITIES Main activitles undertaken to further the Charlfy's purposes for publlc beneftt The Trust was eslablished under the will of the late Dame Violet Vvills, who dled on the 26th October 1964. In it she left the residue of her est?te to her TrusleÈs, giving them absolute discretion to make such gifts to charitable instilulions, or for charitable purposes, as they see fit, out of income or capital. She expressed the desire that the Trustees have spe¢ial regard to those charltable organisatlons and subjects wllh which she had been particularly concerned during her lifetime. The Trustees have determined thal the original capital endowment, as augmented by capital pmfils, shall be retained as a Capllal Fund, and that grants and other expenditure of the Trust should g8n8rally be met from accumulated income. ACHIEVEMENT AND PERFORMANCE Review of actlvltles During the year, the Trustees made 45 grants totalling £83,750 (2021.. 44 grants totalling £78,382)- The Trustees have fo15owed Ihe policy of givrng a smaller number of larger grants than in previous years. with grant applications from organlsations warking in the flelds of children and medical preferred, ideally with a d1ct link to the BristollGloucestershire/Somerset area. The net income for the year has been added to reserves. ReseNes remain above the minimum level set by the Trustees, aamely one year's grants. The Trustees confirm that Ih8y have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the public ben8fit guidance published by Charity Commission for England and Wales. b. Investment pollcy and performance The Deed of Trust empowers the Trustees io retaln 8ny Investments held at Dame Vloiers deaih. Olhenmise the Trusteos are not subject to any restriclksns in relation to the management of the investments. The Trust's investment portfollo recorded a gain In value of £126.301 (2021.. galn of £692,937). FINANCIAL REVIEW a. Reserves policy The Trustees do not intend to accumulate Income in the fvture, but believe that they should retain sufficient ?ccumulated income from past years to meet the appr0mate level of grants for one year. At the year end the balance on the unrestricted funds was £220,961 12021.. £188.696) and on the endowment ftjnd the balance was £3,692.881 (2021: £3.583,482). Total funds were £3,913,642 12021: £3,772,178). Page 1
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 FINANCIAL REVIEW b. Golng ¢oncBrn After making appropriate enquiries, the Trustees have a reasonable expectatlon that the Trust has adequate resources to continue in operational existen for the foreseeable future, The Trustees are aware of the ongoing impact of COVID-19 in relation to the need of grantees. The Trust has investments and does not rely on extemal ftjnders. Trustees will only make grants lo the level 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 conc8rn basis Can be found in the Accounting Policies. FUTURE PLANS The Trust will continue to make gntS in line w5th its objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity Is controlled by its governing document, a Deed of Trust. and constitutes an unSncorporated charity. b. Methods of appointmenl or election of Trustees Trustees are appointed lo fill any vacancy that occurs. the optimum number belng regarded as three. New Trustees are briefed by continuing Trustees regarding the history and objectives of the Trust. c. Organisational structure and decislon-maklng policies The TrtJslees meet three or four times a year to consider grant applications, and conduct any othei business. On occasion decisions are made following telephone m*tings. The Deed of Trust empowers the Trustees to charge for their professional lime expended on Trust affair5. d. Rlsk assessment The Trustees have considered the risks to whi¢h the Trust is exposed and consider tha Ihe ProdureS in force are sufficient to manage the foreseeable risks.ln considering the Trust's activities, the Trustees have had regard to the Charty Commission's guidance on public benefit. REFERENCE AND ADMINISTRAnVE DETAILS Registered Charity number 262251 Principal address Red Roof5 station Road Flax Bourton North Somerset BS48 1 UA Trustees Mr T J Baines Chairman Mr C M C Naughton Mr C R G Biggin Page 2
DAME WOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 REFERENCE AND ADMINISTRATIVE DETAILS Audltors Lwes & Co UK Llmited (Statutory Auditors) Boyca's Building 40-42 Regent street Clifton Bristol BS8 4HU Advisers Bankers Triodos Bank Deanery Road Bristol BS15AS Invesbnent Advlsors Smith & Williamson Pothall Lane Bristol BSI 6NA STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordan with applicable law and United lQngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). The law applicable to charities in England and Wales, the Charities Act 2011. Charity (Accounts and Reports) Rggulations 2008 and the provisions of the twst deed requlres the trustees to prepare financial statements for eaGh flnancial year whlch give a true and fair view of the state of a*fairs of the charity and of the Incoming resources and appllcallon of resour$, includin9 the incomè and 8xpendllure. of the charlty for that perlod. In preparfng those finan¢ial statements, the trustees are required to select suitable acctsunting pollcles and then apply them consistently,. obseNe the methods and principles in the Charity SORP., make judgements and estirnates that are reasonable and prudeTrt; prepare the financial statements on the going ¢<)ncem basls unless tt is inappropriate to presum& that the Charity will continue in business. The trustees are fesponsible for keeping proper accounting records which disdose with reasonable accuracy at any time the financial posi1Son of the charity and to erable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and e provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for takirEg reasonable steps for the prevention and detection of fraud and other irregularities. Each of the persons who are Truslees at the lime when this Trustees, Report Is approvéd conflrnied that: so far as that Trustee is aware. there is no relevant audit information of which the charity's auditors are unaware, and - that Trustee has taken all the steps that ought lo have been taken 88 a Trustee in order to be aware of any relevant audlt information and to eslablish that the Charity's auditors are aware of Ihat Snf¢xmation. Psge 3
DAME VIOLET WILLS- WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Approved by order of the board of trustees on 7 1 and signed on its behalf by.. Mr T J Baines- Trustee Page 4
REPQRT O INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS - WlkL TRUST Opinlon. We have audited the financial statements of Dame Violet Wills - Will Trust (the 'charity') for the year ended 31 March 2022 which comprise the Staement of Financial Activities, the Balance Sheet and notes to the financial statements, induding a summary of significant accounting policies. The financial reportlng framework that has been applied in their preparation is applicable law and Untted Kingdom Accounting Standards (United Kingdom Gener811y Accepted Accounting Pra¢li¢el. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2022 and ot its Incoming resources and application of resources, for the year then ended- have been properly prepared in accordance wth United lQngdom Generalty Accepted AcGounting Practice., and have been prepared in aGCOTdance with the requirements of the Charities Act 2011. Basls for oplnlon We condu¢ted our audit in accordance International Standards on Audiling IUKI IISAS IUKI) and applicable law. Our responsibilities under those standards are further descrlbed in the Auditor5, responsibilitles for the audit of the flnancial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements In the UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibili156s In accordance with the requlrements. We believe that the audit evidence we have obtained Is sufficient and approprfate to provide 8 basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the tNstees' use of the going concem basis of accounting in the preparation ¢)f the financial statements is appropriate. Based on the work we have performed, we have not identifEd any materlal uncertainties relating to events or eondits.ons that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going conGem for a pericd of at least e1ve months from when the financial statements arè authorised for issue. Our responsibilities and the re8pon$ibllities of the trustees with respect to going concern are described In the relevant sections of this report. other Information The trustees ar8 responsible lor the other Infomiatlon. The other information comprises the informatÈon Included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the exlent otherwise explicitly stated in our report, we do not express any fomi of assurance ¢on¢lusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other Information and, in doing so, consider whether the other informatlon is materially Inconsistent with the financial statements or OUT knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such matellal inconslstencies or apparenf material misstaements, we are rer4uired to detormine whether this gives rise to a material misststement in the financial statements themselves. If, based on the worf( we have performed, we conclude that there is a material misstatement of this other informatlon, we are required t¢ report that fact. We have nothing to rep in this regard. Pag& 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS - WILL TRUST Matters on whlch we are requlred to report by èxception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistenl in any material respect with the financial statements., or sufficient accounting records have not been kept.. or the financial ststements are not in agreement with the accounting records and retums,. or we have not received all the information and explanations we require for our audit. Responslbllttles of trustees As explained more fully in the Slaternent of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which gwe a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Inancial statements, the trustees are responsible for assessing the charity's abilky to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either Intend to liquidate the charity or tts cease operations. or have no realistic alternative but to do so. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS- LL TRUST Our responslbllltles for the audlt of the flnancial stat•ments We have been appointed as auditors under Section 145 of tre Charitses Ad 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are free from material misstatement. whether due to fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audil conducted in aOrdanCe with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo inlluence the economic decisions of users taken on the basls of these financial statements. The extent to vthich our procedures are capable of detecting irregularilies, Includlng fraud Is detailed below.. We identlfy and assess the iisks of mlsstatement in the financial sL2tements, whether due to fraud or error, and then design and perform audit proc8Surts responslve to those risks. This includes assessing the risk of non-compllance of laws and regulations and management bias in accountin9 estimat. We must also consider those laws and regulations that have a direct impect on Ihe preparation (rf the rinancial statements 8u¢h as the Charities Act 2011. Audit procedures perfomed by the engagement team Included, but were not limited to: performing reconciliations of fund movements reviewing documentation from third parties regarding investment valuations reconciling income to bank movements revipwlng the approach regarding risks to the Charlty In conducting the work above, we apply due care and professional scepticism throughout. However, there are limitallons within procedures outlined above and the risk of detecting a material misstatement due to fraud is higher than the risk of not detecling one resulting from error 88 fraud may involve dellberate concealment. A further descrlption of our responsibilities for the audit of the financial statements IG located on the Financial Reporting Gouncil's website at www.frc.org.uklaudltorsrèsponsiblllties. ThSs description forms part of our Report of the Ir*Yependerrt A(Klitors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS - WILL TRUST Use of our report This report is made solely to Ihe charity's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regtrlations 2008. Our audit work has been undertaken so that we might stale to the charty's Iruslees those matters we are required to state lo them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustee5 as a body, for our audit work, for this report. or for the opinions we have fomied. LJ/ I, Lll/ Ill Lawes & Co UK Limited (Statutory Auditors) Boyce's Building 40-42 Regent Street Clitton Bristol BS8 4HU Date: Page 8
DAME VIOLET WILLS - WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FORT E YEAR ENDED 31 MARCH 2022 31.3.22 Total funds 31.3.21 Total funds Unrestrtcted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Investment income 116,716 62 116,778 103,568 EXPENDITURE ON RAlslng funds 17,164 17,164 14,207 Charltable activities Grants 83,760 83,750 78,362 Other 701 701 1,113 Total 84,461 17,164 101,615 93,682 Net gains on investments 126.301 126,301 692.937 NET INCOME 32,265 109.199 141,464 702,823 RECONCILIATION OF FUNDS Totsl funds brought fotward 188,696 3,583,482 3,772,178 3,069,355 TOTAL FUNDS CARRIED FORWARD 220,961 3,692,681 4913,642 3,772.178 The notes form part of these financial statements Page 9
DAME VIOLET WILLS- WILL TRUST BALANCE SHEEr 31 MARCH 2022 31.3.22 Total funds 31.3.21 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Investments 3.624,423 3,624.423 3,583,293 CURRENT ASSETS Cash al bank 223,062 68,258 291,320 190,985 CREDITORS Amounts falling due within one year 10 {2,101} {2.1011 12,100) NET CURRENT ASSETS 220,961 68,258 289,219 188,885 TOTAL ASSETS LESS CURRENT LIABILITIES 220,961 3,692,681 3.913,642 3,772,178 NET ASSETS 220,961 3.692,681 3,913,642 3,772.178 FUNDS Unrestricted fund5 Endowment funds 11 220,961 3,692.681 188.696 3.583,482 TOTAL FUNDS 3,913.642 3,772.178 The financi21 statements were approved by the Board of TrusteES and authortsed for issue on .10.77.... and were signed on tts behalf by.. Mr T J Baines- Trustee The notes fomi part of these financial statements Page 10
DAME VIOLET WILLS - WILL T UST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Basls of preparlng the financlal ststements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Ac¢ounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparang their a¢counls in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) {effective 1 January 2019),, Financial Reporting Standard 1Q2 'The Financial Reporting standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. with the exception of investments whlch ar8 Included at market value, as modified by the rev81uation of rtain assets. crftlcal accounting judgements and key sources e! estlmation uncertalnty Preparatlon of the financial Statements requires the TTUStees to make any significant estimates and judgements where ne¢essary. There were no significant estlmates of judgement during this or the prior year. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue In operation existence for tlie foreseeable future and that there are no material uncertaintles about its ability to continue. The Trust has invèstments and does not rely on external funding. Trustees will only make grants to the level of available funds. For this reason they oontinue to adopt the going concem basis in preporing the financlal statements. Income All income is recognised in the Statement of Financial Actiwties once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income tax recoverable In relation to investment income is recognised at the time investment inGome is receivable. Exp¢ndlture Liabilities are recognised as expenditure as soon as thèrts Is a legal or constructive obllgation committlng the charity lo that expenditure, It Es probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably- Expenditu is accounted for on an accruals basls and has been dassified under headings thal aggregate all cost related to the category. Where costs canni)t be dlrectly attributed to particular headings they have been all¢c8ted to activities on a basis consistent with the use of resources. Expenditure on ¢haritable activities is incurred Dn directly undertaking the activities which further th8 Charitvs objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Grants offered subject to condltlons which have not been met at the year end date are noted as a commitment but It awrued as expenditure. Ralsing funds Costs of generatlng funds are costs incurred in attracting voluntary income and investment management costs. Charitable activities and Governance costs are ccsts Incurred on the Trusts operations, including support costs and costs relating to the govemance of the Trust apportioned to Gharitable aclivlties. Page 11 continLted...
DAME VIOLEfwiLLS- WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES- continued Interest recelvabl6 Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the CHarity', this is normally upon notification of the interest paid or payable by the bank. Taxatlon As a registered Charity, the Trust is entttled to taxation exemptions on all income and gains properly applied for its charitable purposes. Fund accounting General funds are unrestrlcted ndS which are available for use at the dlscretion of the Trustees in fvrtherance of the general objectives of the Charity and which have not been designated for other purposes.The Trustees have determined that the original capital endowment, as augmented by apital Profits, shall be retained as a Capital Fund, 2nd Ihat grants and other expenditure of the Trust should generally be met from accurnulated income. Investments Investment5 are a form of financial instrument and are initially recognised at their transaction cost and subsequendy measured at fair value at the Balanco Sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liqvid investments wtth a short malurity of three months or less from the date of acquisition or opening of the deposrt or similar account. Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt. INVESTMENT INCOME 31.3.22 31.3.21 Diwdends Deposit account interest 116,622 156 103,286 282 116.TT8 103,568 Page 12 contlnued...
DAME VIOLET WILLS - L TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THEYEAR ENDED 31 MARCH 2022 RAISING FUNDS Investment management costs 31.3.22 31.3.21 Portfolio management 17,164 14,207 CHARITABLE ACTIVITIES COSTS Grant lunding of activitles (see note Grants 83,760 GRANTS PAYABLE 31.3.22 31.3.21 Grants 83,750 78,362 During the year 45 (2021.. 44) Individual donalions We made ranging in value from £500 to £4,000, whlch were mainly for children's and medical Gharilies. Due to the number of donatlons il has been considered impractical to include a full list here. A fvll analysis of donations is available on request from the Trustees. Ail grants were to charilies registered with the Charity Commission for England and Wales. SUPPORT COSTS Governance costs Flnance Totals other resources expended 15 2,186 2,201 Pege 13 contlnued...
DAME VIOLEf WILLS- WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 TRUSTEES. REMUNERATION AND BENEFITS Trustees received no remuneration or other benefits for the year ended 31 March 2022. nor for the year ended 31 March 2021. Trustees. oxpenses Trustees, expenses amounted to £56 for the year ended 31 March 2022 (2021.. £40). These related to postage and stationery. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Endowment fund fund Tolal funds INCOME AND ENDOWMENTS FROM Investment income 103,568 103,568 EXPENDITURE ON Raislng funds 14,207 14,207 Charitable actlvities Grants 78.362 78,362 Other 1,113 1.113 Total 79,475 14,207 93,e82 Net gains on investments 692,937 692,937 NEf INCOME 24.093 678,730 702,823 RECONCILIATION OF FUNDS Total funds brought forward 164,603 2,904,752 3,069.355 TOTAL FUNDS CARRIED FORWARD 188,696 3,583,482 3,772,178 Page 14 continued...
DAME VIOLEf WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2022 FIXED ASSET INVESTMENTS investment MARKET VALUE Al 1 April 2021 Additions Disposals Revaluations 3,583,293 228,298 (313,469) 126,301 Al 31 March 2022 3,624,423 NET BOOK VALUE At 31 March 2022 3,624,423 At 31 hdarch 2021 3.583,293 The orlginal cost of these investments was £2,289,894 (2021.. £2,287.970). Cost or valuation at 31 March 2022 is represented by.. Listed Investment Valuallon in 2022 Cost 1.334l529 2,289,894 3,624,423 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 31.3.21 Trade creclitors Other creditDrs 2,100 2,10Q 2,101 2.100 Page 15 continued...
DAME VIQLEf WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022 11. MOVEMENT IN FUNDS Nel movement in funds Al 31.3.22 At 1.4.21 Unrestrlcted funds General fund 188,696 32,26S 220,961 Endowmentfund$ Endowment 3,583,482 109.199 3,692,681 TOTAL FUNDS 3,772,178 141,464 3,913,642 Net movement in funds, included in the above are as follows.. Incoming resources Resources expende¢J Gains and Movement losses in fund8 Unrestricted funds General fund 116.716 184,451> 32,266 Endowrnent funds Endowment 62 117.164) 126,301 109.199 TOTAL FUNDS 116.778 {101.6151 126.301 141.464 Comparatlves for movement In funds Net movemenl in funds At 31.3.21 At 1.4.20 Unrestrlcted funds Gener21 fund 164.603 24,093 188,696 Endowment funds Endowment 2.904,752 678,730 3,583,482 TOTAL FUNDS 3,069,355 702,823 3,TT2,178 Page 16 continued...
DAME VIOLET MLLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2022 11. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, included in the above are as foNows.' Incoming Resources Gains and Movement resources expended losses in funds Unrestricted funds General fund 103,568 (79,475) 24,093 Endowment funds Endowment (14,20n 692,937 678,730 TOTAL FUNDS 103.568 {93,682} 692,937 702,823 A ¢urrent year 12 months and prior year 12 months combined position is as follows.. Net movement In funds At 31.3.22 At 1.4.20 Unrestri¢ted funds General fund 164.603 56,358 220,961 Endowment funds Endowment 2,904,752 787,929 3,892.681 TOTAL FUNDS 3,069,355 844.287 3.913,642 A current year 12 monlhs and prior year 12 months combined net movement In funds, induded in the above are as follows= Incoming resources Resources expended Gains and Movement losses In funds Ufirestrlcted funds Gener21 fund 220,284 {163,926} 56.358 Endowment funds Endowment 82 (31,371) 819.238 787,929 TOTAL FUNDS 220,346 1195.297) 819.238 844.287 Page 17 contlnued...
DAME VIOL WILLS- WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2022 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2022. Page 18
DAME VIOLET WILLS-WILL TRUST DEfAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 31.3.22 31.3.21 INCOME AND ENDOWMENTS Investment Income Dividends Deposit 8ccount Interest 116,622 156 103,286 282 116,778 103,568 Total Incomlng resources 116,TT8 103,568 EXPENDITURE Investment management costs Portfolio man2gement 17,164 14,207 Charltable actlvltles Grants 83,750 78,362 Other Gr8nts returned (1.5001 Support costs Flnance Bank charges 15 23 Governance costs Tru$tees' expenses Audltors, remuneration Auditors, remuneratlon for non audit work 58 1,080 1,050 40 1,050 2,186 1,090 Total resour expended 101.615 93,882 Net Income 15,163 9,888 This page does not form part of the statutory finandal statements Page 19