REGISTERED CHARITY NUMBER" 262251 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2024 FOR DAME VIOLET WILLS - WILL TRUST Lawes & Co UK Limited (Statutory Auditors) Boyce's Building 40-42 Regent Street Clifton Brislol BS8 4HU
DAME VIOLET WILLS - WILL TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the Independent Auditors Statement of FlnancSal Actlvltles Balance Sheet 10 Notes to the Flnancial Statements 11 to 18 Detatled Staternent of Financial Activlties 19
DAME VIOLET WILLS- WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Maln actlvities undertaken to further the Charity's purposes for publlc beneflt The Trust was established under the will of the late Dame Violet Vvills, who died on the 26th October 1964. In it she left the residue of her estate to her Trustees, giving them absolute discretion to make such gitts to charitable institutions. or for charitable purposes, as they see fit, out of income or capital. She expressed the desire that the Trustees have special regard to those charitable organisations and SUbjts with which she had been particularly concerned during her lifetime. The Trustees have determined that the original capital endowment, as augmented by capital profits, shall be retained as a Capital Fund, and that grants and other expenditure of thè Trust should generally be met from accumulated income. ACHIEVEMENT AND PERFORMANCE Review of activities During the year, the Trustees made 41 grants totalling £96,790 (2023.. 36 grants totalling £85,750}. The Trustees have followed the policy of giving a smaller number of larger grants than in previous years, with grant applications from organisations working in the fields of children and medical preferred, ideally with a direct link to Ihe BristollGloucestershirelSomerset area. The net income for the year has been added to reserves. Reserves remain above the minimum level set by the TfUSt6es, namely one yearfs grant5. The Trustees confirm that they have compli&d with their duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidanGe published by the Charity Commisslon for England and Wales. b. Investment pollcy and performance The Deed of Trust empowers the Trustees to retain any investments held at Darne Violet's death. Olherwise the Trustees are not subject to any restrictions in relatlon to the management of the investments. The Trust's investment portfolio recorded a gain in value of £110,86612023'. loss of £283,422). FINANCIAL REVIEW a. Reserves pollcy The Trustees do not intend to accumulate income in the future, but believe that thèy should retain sufficienl accumulated income from past years to meet the approximale level of grants for one year. At the year end the balance on the unreslricted funds was £236,758 {2023.' £252,030) and on the endowment fund the balance was £3,543.326 (2023.. £3,403,763). Total funds were £3,780,082 {2023'. £3,655,793). Pag8 1
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW b. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future, The Trust has investments that generate income and does not rely on external funders. Trustees will only make grants to 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 concern basis can be found in the Accounting Policies. FUTURE PLANS The Trust will continue to make grants in line with its objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT a. Governlng document The charity is controlled by its governing document. a Deed of Trust, and constitutes an unincorporated charity. b. Methods of appointment or election of Trustees Trustees are appointed to fill any vacancy that occurs, the optimum number being regarded as three. New Trustees are briefed by continuing Trustees regarding the history and objectives of the Trust. c. Organisatlonal structure and decislon-maklng pollcies The Trustees meet Ihree or four times a year to consider grant applications, and conduct any other business. On occasion decisions are made following telephone meetings. The Deed of Trust empowers the Trustees to ¢harge for their professional time expended on Trust affairs. d. Rlsk assessment The Trustees have consldered the risks to which the Trust is exposed and consider that the procedures in force are sufficient to manage the foreseeable risks.ln considering the Trust's activities, the Trustees have had regard to the Charity Commission's guidance on public benefit. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 262251 Principal address Red Roofs Station Road Flax Bourton North Somerset BS48 1UA Trustees Mr T J Baines Chairman Mr C M C Naughton Mr C R G Biggin Page 2
DAME VIOLET WILLS -WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAIL5 Audltors Lawes & Co UK Limited (Statutory Auditors) Boyce's Building 40-42 Regent Street Clifton Bristol 8S8 4HU Advlsers Bankers Triodos Bank Deanery Road Bristol BS15AS Investment Advisors Evelyn Partners Portwall Lane Bristol BS16NA STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charlty (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and appllcation of resources, including the income and expenditure, of the charlty for that period. In preparing those flnancial statements, the trustees are required to select suilable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent. prepare the financial statéments on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 6nable them to ensure that the financial statemenls comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the wovisions ol the trust deed. They are also responsible for safeguarding the ass8ts of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES - conllnued Each of the persons who are Trustees at the time when this Trustees, Report is approved confirmed that.. so far as that Trustee is aware, there is no relevanl audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit informatlon and to establish that the charity's auditors are aware of that informalion. Approved by order of the board of trustees on behalf by.. and signed on its Mr T J Baines- Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOL T WILLS . WILL TRUST Opinion We have audited the financial stalements of Dame Violet Wills - Will Trust {the 'charitl) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: glve a true and fair view of the state of the charity's affairs as al 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted AGcounting Practice.. and have been prepared in accordance with the requirements of the Charities Act 2011. Ba318 for oplnlon We conducted our audit in accordance wilh Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of Ihe charity in accordance With the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audil evidenG8 we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriale. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going con¢ern for a period of at least twelvÉ months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitles of the trustees with respect to going concern are described in the relevant sections of this report. other informatlon The trustees are responsible for the other information. The other information comprises the information included in thè 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 extenl otherwise explicitly stated in our rèport, we do not express any form of assurance conclusion 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 Dther information is materially inconsistent with the financial statemenls or our knowledge obtained in the audit or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based ¢)n the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS - WILL TRUST Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities {Accounls and Reports) Regulations 2008 requires us to report to you if, in our opinion-. the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements., or stjfficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal 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 financial statements, Ihe trustees are responsible for assessing the charity's ability 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 to 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 - WILL TRUST Our responsibilities for the audit of the flnanclal stalements We have been appointed as auditors under Section 144 of the Charities Acl 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 slatements as a whole are free from material misstatemenl, whether due to fraud or error, and to issue a Report of Ihe Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} wlll always delecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, thoy could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. We identify and assess lh& risks of material misstatement in the financial statements, whether du& to fraud or error,and then design and perform audit procedures responsive to those risks. This includes assessing the rlsk of non-compliance of laws and regulations and management bias in accounting estimates. We must also consider those law5 and regulations that have a direct impact on the preparation of the financial statements, such as the Charities Act 2011. Audit procedures performed 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 In conducting the work above, we apply due care and professional scepticism throughout. However, there are limitations within procedures outlined above and the risk of not detecting a material misstatement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. A further description of our responsibilities for the audit of the financial statements is located on the Finaneial Reporting Council's website at .frc.Org.uklaUditOrSre5pQnslb1llte$. This description forms part of our Report of the Independent Auditors. 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 the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do nol accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. L LAL/ LLI Lawes & Co UK Limited (Statutory Auditors) Boyce's BLtilding 40-42 Regent Street Clifton Bristol 8S8 4HU 17 Page 8
DAME VIOLET WILLS- WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Investment incom6 133,577 3,277 136,854 126,991 EXPENDITURE ON Raising funds 24,580 24,580 16,169 Charltable aotlvlties Grants 96,790 96,790 85,750 Other 2,061 2,061 15011 Total 98,851 24,580 123,431 101,418 Net gainsl{losses) on investments 110,866 110,866 1283,422) NET INCOMEI(EXPENDITURE) Transfers b8tw88n funds 34,726 (50,000) 89,563 50,000 124,289 (257,8491 12 Net movement in funds 115,2741 139,563 124,289 (257,849) RECONCILIATION OF FUNDS Total funds brought forward 252,030 3,403,763 3.655,793 3,913,642 TOTAL FUNDS CARRIED FORWARD 236,756 3,543,326 3,780,082 3,655,793 The notes form part of these financial statemenls Page g
DAME VIOLET WILLS - WILL TRUST BALANCE SHEET 31 MARCH 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Investments 10 3,540,223 3,540.223 3,403,079 CURRENT ASSETS Cash at bank 269,427 3,103 272,530 267.634 CREDITORS Amounts falling due wilhin one year (32,671) {32,6711 (14,920) NET CURRENT ASSETS 236,756 3,103 239.859 252,714 TOTAL ASSETS LESS CURRENT LIABILITIES 236,756 3,543,326 3,780,082 3,655,793 NET ASSETS 236,756 3,543,326 3,780,082 3,655,793 FUNDS Unrestricted funds Endowment funds 12 236,756 252,030 3,543,326 3,403,763 TOTAL FUNDS 3,780,082 3.655.793 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. MrTJBai The notes form part of these financial statements Page 10
DAME VIOLET WILLS- WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charity, which is a public benefil entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019),, Financial Reporting Standard 102 hé Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial slatements have been prepared under the historical cost convention, with the exception of investments which are induded at market value, as modified by the revaluation of certain assets. Crltlcal accounting judgements and key sources of estimation uncertainty Preparation of the financial statements requires the Trustees to make any significant estimates and judgements where necessary. There were no significant eslimates 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 the foreseeable future and that there are no materlal uncertainties about its ability to continue. The Trust has investments and does not rely on external funding. TrLSStees will only make grants to the level of available funds. For this rea50n they continu8 to adopt the going conrn basis in preparlng the financial statements. Income All incorne is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, il is probable that the inctjme will be received and the amount can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time investment income is receivable. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructlV8 obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in setllement and the arnounl of Ihe obligation can be measured rèliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannol be directly attributed to particular headings they have been allocated to aclivilies on a basis consistent with the use of reSoUrs. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Grants offered subject lo conditions which have not been met at the year end date are noted as a commitment bul not accrued as 8xpenditur8. Page 11 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES . contlnued Raislng funds Costs of generating funds are costs incurred in attracting voluntary income and investment management costs. Charitable activities and Governance costs are costs incurred on the Trusts operations, including support costs and costs relating to the governance of the Trust apportioned to charitable activities. Interest receivable 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 entitled to taxation exemplions on all income and gains properfy applied for its charitable purposes. Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for olher purposes.The Trustees have determined that the original capital endowment. as augmented by capital profits, shall be retained as a Capital Fund. and that grants and olher expenditure of the Trust should generally be met from accumulated income. Investments Investments are a form of financial instrumenl and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance 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 liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Llabilitles 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. Page 12 continued...
DAME VIOLET WILLS -WILL TRUST NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 31.3.24 31.3.23 Dividends Deposit aocount interest 114,797 22,057 114.294 12,697 136,864 126,991 RAISING FUNDS Other trading actlvltles 31.3.24 31.3.23 Loss on sale of assets 8,868 Investment management Gosts 31.3.24 31.3.23 Portfolio management 15,712 16,169 Aggregate amounts 24,580 16,169 CHARITABLE ACTIVITIES COSTS Grant lunding of activities (see note 5) Grants 96,790 GRANTS PAYABLE 31.3.24 31.3.23 Grants 96,790 85,750 During the year 41 (2023.. 36) individual donations were made ranging in value from £500 to £5,000, which were mainly for children's and medical charities. Due to the number of donations it has been considered impractical to include a full list here. A full analysis of donations is available on request from the Trustees. All grants were to charities registered with the Charlty Commlssion for England and Wales. Page 13 conlinued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Governance costs Finance Tolals other resources expended 21 2,040 2,061 TRUSTEES, REMUNERATION AND BENEFITS Trustees received no remuneration or other benefits for the year ended 31 March 2024, nor for the year ended 31 March 2023. Trustees, expenses Trustees, expenses amounted to £Nil for the year ended 31 Mar¢h 2024 (2023.. £Nil). MATERIAL TRANSFERS During the year transfers totalling £35,286 were made beeen from the unrestricted fund to the endowment fund. This was to increase the available capital to invest into future income generating investmen15 to ensure it has sufficient income to continue to provide grants where necessary. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Endowment fund fund Total funds INCOME AND ENDOWMENTS FROM Investment income 116,318 10,673 126,991 EXPENDITURE ON Raising funds 16,169 16,169 Charitable activities Grants 85,750 85,750 oth8r (501) 1501} Total 85,249 16,169 101.418 Net gainsl(lossesl on investments {283,4221 (283,4221 NET INCOMEIIEXPENDITURE 31,069 1288,918) {257,8491 RECONCILIATION OF FUNDS Total funds brought forward 220,961 3,692,681 3,913,642 Page 14 continued...
DAME VIOLET WILLS- WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Endowment fund fund Total funds TOTAL FUNDS CARRIED FORWARD 252,030 3,403,763 3,655,793 10. FIXED ASSET INVESTMENTS Listed investment MARKET VALUE At 1 April 2023 Additions Disposals Revaluations 3,403,079 355.889 {329,611) 110,866 At 31 March 2024 3,540,223 NET BOOK VALUE At 31 March 2024 3,540,223 At 31 March 2023 3,403,079 The original cost of these investments was £2,501.486 (2023.. £2,345,806). Cost or valuation at 31 March 2024 is représented by: Llsted Investme Valuation in 2024 Cost 1,038,757 2,501,466 3,540,223 Page 15 continued..
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors other creditors 30,751 1,920 13,000 1,920 32,671 14.920 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 252,030 34,726 150,000) 236,756 Endowment funds Endowment 3,403,763 89,663 60,000 3,543,326 TOTAL FUNDS 3,655,793 124,289 3,780,082 Net movement in funds, included in the above are as follows: Incoming Resour5 Gains and Movement reSoUrS expended losses in funds Unrestricted funds General fund 133,577 198,851) 34,726 Endowment funds Endowment 3,277 (24,580) 110,866 89,563 TOTAL FUNDS 136,854 {123,431) 110,866 124,289 Page 16 continued...
DAME VIOLET WILLS . WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. MOVEMENT IN FUNDS . contlnued Comparatlves for movement In funds Nel movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 220,961 31,069 252,030 Endowment funds Endowment 3,692,681 (288,918} 3,403,763 TOTAL FUNDS 3,913,642 (257.849} 3,655,793 Comparative net movement in funds, included in the above are as follows.. Incoming Resources Gains and Movement resources expended losses in funds Unrestrlcted funds General fund 116,318 (85,249) 31,069 Endowment funds Endowment 10,673 (16,169) (283.422) (288,918) TOTAL FUNDS 126,991 1101,418> (283,422) (257,849) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between fLtnds At 31.3.24 AÉ 1.4.22 Unrestrlcted Itjnds General fund 220,961 65,795 (50,000) 236,756 Endowment funds Endowment 3,692,681 1199,355) 50,000 3,543,326 TOTAL FUNDS 3,913,642 1133.560) 3.780.082 Page 17 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. MOVEMENT IN FUNDS - contlnued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources Gains and Movement expended losses in funds Unrestricted funds General fund 249.895 {184,100) 65,795 Endowment funds Endowment 13,950 140,749) {172,556> {199,355) TOTAL FUNDS 263,845 {224,849) {172,556) {133,5601 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 18
ME VIOLET WILLS- WILL TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Investment Income Dividends Deposit account interest 114.797 22,057 114,294 12,697 136,854 126,991 Total incoming resources 136,854 126,991 EXPENDITURE other trading actlvltles Loss on salé of tangible flxed assets 8,868 Inveslment management costs Portfolio management 15,712 16,169 Charltable actlvltles Grants 96.790 85,750 Other Grants returned (2,500) Support costs Financg Bank charges 21 19 Governance Costs Auditors, remuneration Auditor$' remuneration for non audit work 1,110 1,050 930 930 2,040 1,980 Total resources expended 123,431 101,418 Nel Income 13,423 25,573 This page does not form part of the statutory financial statements Page 19