REGISTERED CHARITY NUMBER: 262251 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR DAME VIOLET WILLS - WILL TRUST Lawes & Co UK Limited (Statutory Auditors} Boyce's Building 40-42 Regent Street Clifton Bristol BS8 4HU
DAME VIOLET WILLS - WILL TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet Notes to the Financial Statements 11 to 18 Detailed Statement of Financial Activities 19
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recorllmended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Main activities undertaken to further the Charity's purposes for public benefit The Trust was established under the will of the late Dame Violet W111s, who died on the 26th October 1964. In il she left the residue of her estate to her Trustees, giving them absolute discretion lo make such gifts 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 subjects with which she had been particularly concerned during her lifetime. The Trustees have determined Ihat the original capital endowmenl, as augmented by capital profits, shall be retained as a Capital Fund. and that grants and other expenditure of the Trust should generally be met from accumulated income. ACHIEVEMENTS AND PERFORMANCE a. Review of activities During the year, the Trustees made 41 grants lotalling £103,950 (2024.. 41 grants totalling £96,790). The Trustees have followed the policy of giving a smaller number of1arger grants than in previous years, with grant applications from organisations working in the fields of children and medical preferred, ideally with a direct link lo the BristollGloucestershirelSomerset area. The nel income for the year has been added to reseNes. Reserves remain above the minimum level sel by the Trustees, namely one year's grants. The Trustees confirm that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard lo the public benefil guidance published by the Charity Commission for England and Wales. b. Investment policy and performance The Deed of Trust empowers the Trustees to retain any investments held at Dame Violet's death. otherwise the Trustees are not subject to any restrictions in relation lo the rnanagemenl of the investments. The Trust's investment portfolio recorded an decrease in value of £4,47812024.' increase of £110,866). FINANCIAL REVIEW a. Reserves policy The Trustees da not intend to accumulate income in the future, but believe that they should relain sufficient accumulated income from past years to meet the approximate level of grants for one year. At the year end the balance on the unrestricted funds was £214,277 12024.. £236,756) and on the endowment fund the balan was £3,575,383 {2024'. £3,543,326) Total funds were £3,789,660 (2024.. £3,780,082) Page 1
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW b. Going concern After making appropriate enquiries, the Trustees have a reasonable expeclation that the Trust has adequate resources to continue in operational existence for the foreseeable future, The Trust has investmen15 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. Governing 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 f511 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. Organisational structure and decision-making policies The Trustees meet three ar 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 charge for their professional time expended on Trust affairs. d. Risk assessment The Trustees have considered 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 Cornmission's guidance on public benefit. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 262251 Principal address clo Crowe UK LLP St James House Sl James Square Cheltenham Gloucestershire GL50 3PR 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 2025 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Lawes & Co UK Limited (Statutory Auditors) Boyce's Building 40-42 Regent Street Clifton Bristol BS8 4HU Advisers Bankers Triodos Bank Deanery Road Bristol BS1 SAS Investment Advisors Evelyn Partners Portwall Lane Bristol BS16NA STATEMENT OF TRUSTEES, RESPONSIBILITIES The truslees 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). Charity law requires the trustees lo prepare financial statements for each f1nancial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the truslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that peNod. In preparing those financial statements. the trustees are required to select suitable accounting policies and then apply them consistently., obselve the methods and principles in the Charities SORP", make judgements and estimates that are reasoriable and prudent., prepare the financial slatements on the going concem basis unless it Is inappropriate to presume that the charity will conlinue in business. The truslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the f1nancial position of the charity and to enable thern to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and 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. Page 3
DAME VIOLET WILLS - WILL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued 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 relevant 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 information and to establish that the charity's auditors are aware of that information. Approved by order of the board of trustees on !.B..fxknts. and signed on its behalf by.. MrTJBain stee Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DAME VIOLET WILLS - WILL TRUST Opinion We have audited the financial statements of Dame Violet Wills - Will Trust (the 'charity') for the year ended 31 March 2025 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 Praclicel. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdam Generally Accepted Accounting Pr2Ctice", and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We Gonducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUK}) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slalements section of our report. We are independent of the charity in accordance with the ethic21 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 responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions 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 statements is appropriate. Based on the work we have performed, we have not identified any mater131 uncertainties relating to events or conditions that, individually or collectively, rnay c2St significant doubt on the charity's ability lo ontinue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described the relevant sections of this report. other information The trustees are responsible for the other infomiation. The other information comprises the infomation 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 extent otherwise explicilly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo 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 on the work we have perfom)ed, we conclude that there is a rnaterial misstatement of this other infomiation, 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 exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the Report of the Trustees is 5nconsistent in any material respect with the financial slalements., or sufficient 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 Slalemenl 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, the 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 truslees either intend to liquidate the charity or to cease operations, or have no realistic alternative but lo 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 financial ststements We have been appointed as auditors under Section 144 of the Charities Act 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 statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 audit conducted in accordance with ISAS IUKI will always delecl a material rnisstatement 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 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 the risks of material misstatement in the financial stalemenls, whether due to fraud or error,and then design and perform audit procedures responsive to those risks. This includes assessing the risk of non-compliance of laws and regulations and management bias in accounting estimates. We must also consider those laws 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 docurnentation 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 to fraud is higher than the risk of not detecting one resulting frDm error, as fraud may involve deliberate concealment. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibililies. This description forms part of our Report ofthe 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 Iruslees, 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 lo the charity's trustees those matters we are required to slate to Ihern in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not 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. .64u*/ J- Lawes & Co UK Limited {Statutory Auditors) Boyce's Building 40-42 Regent Street Clifton Bristol BS8 4HU l Ill/ j[J Date.. Page 8
DAME VIOLET WILLS - WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Investrnent income 134,076 1,242 135,318 136,854 EXPENDITURE ON Raising funds 14,707 14,707 24,580 Charitable activities Grants 103,950 103,950 96,790 Other 2,605 2,605 2,061 Total 106,555 14,707 121,262 123,431 Net gainsl(losses) on investments 4.478) 110,866 NET INCOMEI{EXPENDITURE) Transfers beeen funds 27,521 50.0001 117,9431 9,578 124,289 Net movement in funds 122,479) 32,057 9,578 124,289 RECONCILIATION OF FUNDS Total funds brought fotward 236,756 3,543,326 3,780,082 3,655,793 TOTAL FUNDS CARRIED FORWARD 214,277 3,575.383 3,789,660 3,780,082 The notes form part of these financial statements Page 9
DAME VIOLET WILLS - WILL TRUST BALANCE SHEET 31 MARCH 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Inveslmenls 3,573,743 3,573,743 3,540,223 CURRENT ASSETS Cash at bank 262,626 1,640 264,266 272,530 CREDITORS Arnounls falling due wilhin one year {48,349) 148,3491 {32,6711 NET CURRENT ASSETS 214,277 1,640 215,917 239,859 TOTAL ASSETS LESS CURRENT LIABILITIES 214,277 3,575,383 3.789,660 3,780,082 NET ASSETS 214.277 3,575,383 3,789,660 3,780,082 FUNDS Unrestricled funds Endowment funds 12 214,277 3,575,383 236,756 3,543,326 TOTAL FUNDS 3.789,660 3,780,082 The financial statements were approved by the Board of Trustees and authorised for issue on ..lo-J... and were signed on its behalf by.. Trustee The notes form part of these financial statements Page10
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The f1nancial statefllents of the charity, which is a public benefit entity Ljnder 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 (FRS 1021 leffeclive 1 January 2019),, Financial Reporting Standard 102 '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 which are included at market value, as modified by the revaluation of certain assets. Critical accounting judgements and key sources of estimation uncertainty Preparation of the financial statements requires the Trustees to make any significant estimates and iudgemenls where necessary. There were no significant estimates 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 lo continue in operation existence for the foreseeable future and that there are, Ian imatèlial uncertainties about its ability to continue. TP,- -1 Llac I14J> Iil'iestments and does not rely on external funding. Trustees will oiily make yidnts lo the level of available funds. For this reason they continue lo adopt the going concern basis in preparing the financial statements. Income All inc,orro la recognised in the Statement of Financial Activities once the charity has entitlement to tl)e 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 income is receivable. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmitling the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 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 to conditions which have not been met al the year end date are noted as a commitment but not accrued as expenditure. Raising 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 lo the governance of the Trust apportioned to charitable activities. Page 11 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS _ continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued Interest receivable Interest on funds held on deposit is included when receivable and the arnounl can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the bank. Taxation As a registered Charity, the Trust is entilled ta taxation exemptions on all income and gains properly applied for its charitable purposes. Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.The Trustees have determined that the original capital eridowment, as augmented by capital profits, shall be retained as a Capital Fund, and that grants and other expenditure of the Trust should generally be met from accumulated income. Investments Investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet dale using the closing quoted markel 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 skiort-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in seltlernent, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates it will pay to settle the debt. INVESTMENT INCOME 31.3.25 31.3.24 Dividends Deposit account interest 109,256 26.062 114,797 22,057 135 318 136,854 Page12 continued..
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 RAISING FUNDS Other investing activities 31.3.25 31.3.24 Loss on sale of assets 2,360 8,868 Investment management costs 31.3.25 31.3.24 Portfolio management 12,347 15,712 Aggregate amounts 14,707 24,580 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 5) Grants 103,950 GRANTS PAYABLE 31.3.25 31.3.24 Grants 103,950 96,790 During the year 41 {2024'. 41) individual donations were made ranging in value from £1,000 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 lo charities registered with the Charity Commission for England and Wales. Page 13 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2025 SUPPORT COSTS Governance costs Finance Tatals Other resources expended 25 2,580 2,605 TRUSTEES. REMUNERATION AND BENEFITS Trustees received no remuneration or other benefils for the year ended 31 March 2025, nor for the year ended 31 March 2024. Trustees. expenses Trustees, expenses amounted lo £Nil for the year ended 31 March 2025 {2024.' £Nil). MATERIAL TRANSFERS During the year transfers totalling £50,000 were made between from the unreslricled fund to the endowment fund. This was to increase the available capital to invest into future income generating investments lo ensure it has sufficient incorne lo 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 133,577 3,277 136,854 EXPENDITURE ON Raising funds 24.580 24,580 Charitable activities Grants 96,790 96,790 Other 2,061 2,061 Total 98,851 24,580 123.431 Net gains on investments 110,866 110,866 NET INCOME Transfers beeen funds 34,726 50,000) 89,563 50,OQO 124,289 Net movement in funds (15,274) 139,563 124.289 RECONCILIATION OF FUNDS Total funds brought forward 252,030 3,403,763 3,655,793 Page 14 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Endowment fund fund Total funds TOTAL FUNDS CARRIED FORWARD 236,756 3,543,326 3,780,082 10. FIXED ASSET INVESTMENTS Listed investment MARKET VALUE At 1 April 2024 Additions Disposals Revaluations 3,540,223 175,345 {137,3471 4,478} At 31 March 2025 3.573,743 NET BOOK VALUE At 31 March 2025 3.573,743 At 31 March 2024 3,540,223 The original cost of these investments was £2,549,618 (2024.. £2,501,466). Cost or valuation al 31 March 2025 is represented by.. Listed investments Valuation in 2025 Cost 1,024,125 2,549 618 3,573,743 Page 15 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade creditors Olher creditors 45,949 2,400 30,751 1,920 48,349 32,671 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 236,756 27,521 150,0001 214,277 Endowment funds Endowment 3,543,326 {17,9431 50,000 3,575,383 TOTAL FUNDS 3,780,082 9,578 3,789,660 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund 134,076 {106,5551 27,521 Endowment funds Endowment 1,242 {14,707} 14,478) 117,943} TOTAL FUNDS 135,318 121 2621 4,4781 9,578 Page 16 continued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 12. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.24 Al 1.4.23 Unrestricted funds General fund 252,030 34,726 150,0001 236,756 Endowment funds Endowment 3,403.763 89,563 50,000 3,543,326 TOTAL FUNDS 3,655,793 124,289 3,780,082 Comparative net movernent in funds, included in the above are as follows.. Gains and Movement losses in funds Incoming resources Resources expended Unrestricted funds General fund 133,577 198.851) 34,726 Endowment funds Endowment 3,277 {24,5801 110.866 89,563 TOTAL FUNDS 136,854 123,431) 110,866 124,289 A current year 12 months and prior year 12 months combined position is as follows.. Transfers between funds Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 252,030 62,247 1100,0001 214.277 Endowment funds Endowment 3,403,763 71,620 100,000 3.575,383 TOTAL FUNDS 3,655,793 133,867 3,789,660 Page 17 ontinued...
DAME VIOLET WILLS - WILL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 12. MOVEMENT IN FUNDS - continued 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 expended Gains and Movement losses in funds Unrestricted funds General fund 267,653 {205,406) 62,247 Endowment funds Endowment 4,519 {39,2871 106,388 71,620 TOTAL FUNDS 272,172 244,6931 106,388 133,867 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 18
DAME VIOLET WILLS - WILL TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Investment income Dividends Deposit account interest 109,256 26,062 114,797 22,057 135,318 136,854 Total incoming resources 135,318 136,854 EXPENDITURE Other investing activities Loss on sale of tangible fixed asset5 2.360 8,868 Investment management costs Portfolio management 12.347 15,712 Charitable activities Grants 103,950 96,790 Support costs Finance Bank charges 25 21 Governance costs Audilors, remuneration Auditors, remuneration for non audit work 1,580 1,000 1.110 930 2,580 2,040 Total resources expended 121,262 123,431 Net income 14,056 13,423 This page does not form part of the statutory financial statements Page 19