2025-04-30-accounts - The William Barry Trust

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REGISTERED CHARITY NO: 272551

ILLIAM BARRY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

THE WILLIAM BARRY TRUST

INDEX TO THE FINANCIAL STATEMENTS.

	Page
General information	1
Report ofthe Trustees	2-3
Report ofthe Independent Examiner	4
Statement of Financial Activities	5
Balance Sheet	6
NotestotheFinancialStatements	7-8

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THE WILLIAM BARRY TRUST
GENERAL INFORMATION
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TRUSTEES K Iwaki
A Amirahmadi
T lwanaga
K Daly BA
M Gough
K Gahagan (Appointed 12 December 2024)
G L Wedgbury (Appointed 10 December 2024)
ADDRESS: Lacemaker House
5-7 Chapel Street
Marlow
Buckinghamshire
SL7 3HN
REGISTERED CHARITY NO: 272551
INDEPENDENT Caroline Roberts FCA
EXAMINER: Beavis Morgan LLP
Accountants, Business and Tax Advisers
82 St John Street
London
EC1M 4JN
INVESTMENT J.M. Finn & Co. Ltd
MANAGER: 25 Copthall Avenue
London
EC2R 7AH
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Page 1

THE WILLIAM BARRY TRUST

REPORT OF THE TRUSTEES for the year ended 30 April 2025

The Trustees present their report with the financial statements of the Trust for the year ended 30 April 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the Trust Deed, the Charities Act 2011 and 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(the "Charities SORP").

TRUSTEES:

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|||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|Trustees who|served|during|all|or part|of|the year|under|review|were:| |T|lwanaga|K|Iwaki| |M|Gough|K|Daly BA| |A|Amirahmadi| |K Gahagan|(Appointed|12|December|2024)| |G|L Wedgbury|(Appointed|10|December 2024)| |The|power|to|appoint|Trustees|to|the Trust|is|held by|the|Trustees.| |REGISTERED|ADDRESS:| |Lacemaker|House| |5-7 Chapel|Street| |Marlow| |Buckinghamshire| |SL7|3HN| |CONSTITUTION:| |The|Trust|is|constituted|under|the terms|of|a deed|dated|1|March|1976.|This|details|the|main|objects|of|the|Trust|which was| |established|for the|public|benefit|are:| |To|advance|the education|and|vocational|training|of persons|engaged|or about|to engage|in|technical|craft|and|artistic|occupations| |in|particular|but|without|prejudice|to|the|generality|of the|foregoing|by|one|or more|of the|following:-| |a)|the|provision|of grants|or|loans|to|persons|who|are|unable|to|obtain|adequate|assistance|from|other|sources|and who|are|in| |need|of|financial|help|in|order|to|undertake|a|course|of|training;| |b)|the awarding|of prizes|and scholarships to|persons|undergoing|training|for technical|crafts|or|artistic occupations;| |c)|the establishment|of|training workshops|and|centres|to|provide|training|for technical|crafts or|artistic|occupations;|and| |d)|by|holding|courses,|lectures,|seminars,|exhibitions|and|other|educational|activities.| |The|purposes|are|concerned|with|education|and|training|rather|than|career development.| |Grants|made|during|the|year|totalled|£88,000|(2024|-|£8,000).| |The Trustees|confirm|that|they have|referred|to|the guidance|contained|in|the|Charity|Commission's|general|guidance on|public|benefit| |when|reviewing|the|Trust's|aims|and|objectives|and|in|planning|future|activities.| |REVIEW OF|ACTIVITIES:| |The|net|income|of|the|Trust|for the|year ended 30|April 2025|amounted|to|£2,900,514|compared|to|net|incoming|resources|of £88,769| |for|the|previous|year.|Total|donations|received|amounted|to|£NIL|(2024|-|£Nil).| |In|1998,|the Trustees|created|an|endowment|fund|in|order|that|the|capital|of|the|Trust|is|preserved|to|maintain|its|income|level|to| |enable|it|to|finance|its|charitable|activities.| |In|accordance|with|the|provisions|of|the|Financial|Reporting|Standard|(FRS102),|Financial|Reporting|Standard|applicable|to|the|UK| |and|the|Republic of|Ireland,|the|investments|of the Trust|have|been|included on the|balance|sheet|at 30|April|2025|at|their market|value.| |This|has|given|rise|to|a|loss|on|revaluation|of those|investments|amounting|to £91,512|(2024|-|£88,789|profit).| |The|investment|in|HTS|Management|Holdings|Limited|was|liquidated|during|the|year,|and|all|monies due were|received.| |During|the|year,|the Trustees|disposed|of|certain|investments|which|gave|rise|to|a|profit on|disposal|of|£3,816|(2024|-|£2,687).|

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Page 2

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THEWILLIAMBARRY TRUST
REPORT OF THE TRUSTEES
for the year ended 30 April 2025
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CONTINUED

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RISK MANAGEMENT
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The principal risks faced by the Trust lie in the performance of investments and operational risks from ineffective grant making and the capacity of the Trust to make effective grants,

The Trustees consider variability of investment returns on the permanent endowment funds to constitute the Trust's major financial risk. This is mitigated by retaining expert investment managers and having a diversified investment portfolio. The Trustees risk management policy comprises:

a) an annual review of the principal risks and uncertainties of the Trust;

b) the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and

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c) the implementation of procedures designed to minimise or manage any potential impact on the Trust should those risks arise.
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STATEMENT OF TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the financial activities of the Trust during the year and of its financial position at the end of the year. In preparing the financial statements, the Trustees are required to:

1) select suitable accounting policies and apply them consistently;
2) observe the methods and principles of the Charities SORP
3) make judgements and estimates that are reasonable and prudent;
4) state whether applicable accounting standards and statements of recommended practice have been followed subject to the departures disclosed in the financial statements; and
5) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011.

The Trustees 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.

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APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF:
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a
~ fo. y
T lwanaga \"y7' M Gough i hf ee eer
a aa
Date a
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Page 3

THE WILLIAM BARRY TRUST INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

| report to the trustees on my examination of the financial statements of The William Barry Trust (‘the charity’) for the year ended 30 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that | might state to the charity's trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permiited by law, | do not accept or assume responsibilty to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions | have formed. Responshbllities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently | express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner's statement.

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Independent Examiner's Statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination
giving me cause to believe that in any material respect:
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a) accounting records were not kept in respect of the charity as required by section 130 of the Act; or

b) the financial statements do not accord with those records; or

c) the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charity's (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

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CarolineIndependent RobertsExaminer FCA Dated: A220
Beavis Morgan LLP
Accountants, Business and Tax Advisers
82 St John Street
London
EC1M 4JN
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Page 4

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THE WILLIAM BARRY TRUST
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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |STATEMENT OF|FINANCIAL|ACTIVITIES| |for the|year ended|30|April|2025|@| |Total|Funds|Total|Funds| |2025|2024| |Note|£|£| |INCOMING|RESOURCES:| |Dividend|income|26,702|12,506| |Interest|on|Eurobonds|and|Government|Securities|16,328|3,523| |Interest|on|deposits|36,491|2,204| |Rent|receivable|300|.| |79,821|18,233| |RESOURCES|USED:| |Charitable|grants to|individuals|88,000|8,000| |Management|and|administration|expenditure|39,588|11,140| |Independent|examination|fee|6,000|1,800| |(133,588)|(20,940)| |NET GAINS|ON|INVESTMENTS:| |Revaluation|of|investments|4|(91,512)|88,789| |Profit|on|sale|of|investments|3,816|2,687| |Capital|distribution|9|3,041,977|-| |2,954,281|91,476| |NET|INCOMING/(OUTGOING)|RESOURCES|2,900,514|88,769| |Transfer|between funds|(1,059,955)|(138,130)| |1,840,559|(49,361)| |Balance|brought|forward|127,886|177,247| |BALANCE|CARRIED FORWARD|1,968,445|127,886| |MOVEMENT OF|FUNDS| |All|of the|above|movements|during|the|current|and|previous|years|are|in|Unrestricted|Funds.| |CONTINUING|OPERATIONS| |None|of|the|charity's|activities were|acquired|or|discontinued|during|the current|and|previous|years.| |TOTAL|RECOGNISED|GAINS|AND|LOSSES| |The|charity|has|no|recognised|gains|or|losses|other than|the|results|for the|current|and|previous|years.|

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Page 5

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E WILLIAM BARRY TRUST -

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BALANCE SHEET
at 30 April 2025
Note 30.4.2025 30.4,2024
£ £ £ £
INVESTMENTS:
Investment property 3 1,100,000 -
At valuation - Fixed Asset Investments 4 6,802,516 6,842,561
CURRENT ASSETS:
Taxation recoverable 5 - 977
Cash at Bank:
J.M. Finn & Co. Ltd - Client Capital Account 426,980 1,917
CAF Bank - Gold Account 180,047 77,300
CAF Bank - Cafcash Account 1,368,461 49,491
1,975,488 129,686
CURRENT LIABILITIES: .
Sundry creditors & accruals 6 7,043 1,800
1,968,445 127,886
9,870,961 6,970,446
FINANCED BY:
FUNDS:
Endowment funds 7 7,902,516 6,842,561
Unrestricted funds 7 1,968,445 127,886
9,870,961 6,970,446
The financial statements on pages 5 to 8 were approved by the Trustees and signed on their behalf by:
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:
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TRUSTEE\L(Alo
Wt © tiwanage
TRUSTEE MMJ pu M Gough
Approved by the Trustees on Bef Ref 2028
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Page 6

1 ACCOUNTING POLICIES:

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THE WILLIAM BARRY TRUST
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NOTES TO THE FINANCIAL ACTIVITIES
for the year ended 30 April 2025
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Accounting convention:

a) The financial statements have been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).

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:
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The William Barry Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Expenditure is included on an accruals basis;

c) Investment income is accounted for in the period in which the charity is entitled to receipt.

Golng Concern:

Following a review of the charity's assets, liabilities and planned expenditure, The Trustees consider that the charily will be able to continue in operational existence for the foreseeable future. Thus the going concern concept continues to be appropriate and there are no material uncertainties over the charity's ability to continue.

Donations:

Amounts received as qualifying donations under the Gift Aid Scheme are included without deduction of income tax which is treated as having been deducted at source and is recoverable from the HM Revenue & Customs. No donations were received in either the current year or the previous year.

Investments:

Investments are included at closing mid-market valuation at the balance sheet date. Any gain or loss on revaluation is shown on the Statement of Financial Activities.

2 TRUSTEES REMUNERATION

During the year one of the trustees, M Gough, was paid an administrative salary of £11,717 (2024: Enil). No trustees received any reimbursed expenses during either year.

3 INVESTMENT PROPERTY

2025 £ Fair value At 1 May 2024 * Addition during the year 1,100,000 At 30 April 2025 1,100,000

The fair value of the investment properly has been arrived at on the basis of a valuation carried out at 30 April 2025 by the Trustees. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

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4 INVESTMENTS 2025 2024
£ £
HTS Management Holdings Limited Note 9
98,214 Ordinary Shares of £1 each - 5,067,690
2,366 "A" Ordinary shares of £1 each : 122,082
- §,189,772
10,242 "A" Ordinary Shares of £1 each and
15,000 Deferred Ordinary Shares of £1 each at valuation - 680,066
- 680,066
- 5,869,838
Investments managed by J.M. Finn & Co. Ltd
Valuation brought forward 972,723 834,593
Additions at cost 6,068,663 91,632
7,041,386 926,225
Less: Disposals in year at cost (147,358) (42,291)
6,894,028 883,934
(Decrease)/increase in market value in year (91,512) 88,789
6,802,516 972,723
Market Value at 30 April 2025 6,802,516 6,842,561
Historical cost at 30 April 2025 6,556,300 762,735
5 TAXATION RECOVERABLE 2025 2024
£ £
Income Tax on investment income - 977
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Page 7

THE WILLIAM BARRY TRUST

NOTES TO THE FINANCIAL ACTIVITIES for the year ended 30 April 2025

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6 SUNDRY CREDITORS 2025 2024
£ €
Independent examiner charges 6,000 1,800
PAYE & NI Payable 1,043 -
7,043 ~__1,800
7 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Net
current
Investments assets TOTAL
Endowment fund 7,902,516 - 7,902,516
Unrestricted fund - 1,968,445 1,968,445
2025 7,902,516 _ 1,968,445 9,870,961
2024 6,842,561 127,886 6,970,446
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The Unrestricted Fund comprises those assets which the Trustees are free to use in accordance with the charitable objects.

The Endowment Fund represents those assets which must be held permanently by the Trust, principally investments. Income arising on the Endowment Fund can be used in accordance with the charitable objects of the Trust and is included as unrestricted income. Any capital gains or losses arising on the valuation or disposal of the investments form part of the Fund.

8 ULTIMATE CONTROLLING PARTY The ultimate controlling party is considered to be the Trustees, as a body.
9 CAPITAL DISTRIBUTION

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During the year the charity received cash and distributions in specie of an investment property and listed investments totalling
£8,911,815 as a result of the Members’ Voluntary Liquidation of its unlisted investment, HTS Management Holdings Limited.
The amount of the capital distribution received over and above the carrying value of the investment was £3,041,977 and this
has been recognised within net gains on investments in the Statement of Financial Activities
10 DISPENSATION FROM STATUTORY AUDIT
In the current year the level of incoming resources breached the audit exemption threshold because of the one-off capital
distribution disclosed in note 9. The Charity Commission granted a dispensation from a statutory audit and so an audit was
not conducted. Instead the financial statements were subject to independent examination.
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Page 8
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i a