THE F. J. WALLIS CHARITABLE SETTLEMENT CHARITY NUMBER 279273 TRUSTEES, REPORT AND FINANCIAL STATEMEIITS YEAR TO 31 MARCH 2025
THE F.J. WALLIS CHARITABLE SErtLEMENT YEAR TO 31 ,MARCH 2025 COliTEYTS Page Trustces rep)rt Independent Examincr's R¢port Stateinent of financial aclivilies Balance sheet Statement of casl) flom's Notes to tlle financial stalements 10-15
Page I THE F.J. WALLIS CHARITABLE SEffLEMENT TRUSI'LES, REPORT YEAR EINDED 31 MARCH 2025 The trLlStees pr¢5cnt their ieport alon(¥ li lili ihe fjnancial stalemenis of rhe clwil), for ihe seal 10 J I Marcl) ti025. The finaiieial staiemeJit5 hai'e been prnpared in accoJdallc¢ ii'ith accoui)tino poltCiL% set oiit ii) iiote 110 the accoitIits and compli. iiiih th¢ charit) s iru51 d¢¢d. Ihe Clillrilies Act 2011 aiid Accoiintiiig aiid Reportijig bN' Cliarities= Stateiiieiil of Recominended Practice applicable io cl)arities pIEparing Iheir accounts iii accordance ii'itl) th¢ Fiiiwicial Reportiiig Standard applicable in ili¢ UK nd Repiiblic of Ireland published on 16 July 2014. OBJECTIVES AND AcfiviTIF.S IN THE PUBLIC INTEREST Th¢ Charity has iii'o broad Plirposes, namel). to build lip an endoii'ill¢ni fiiiid for a signifi¢ani project or donation to be Inade in Inemor). FraiKis John Wallis. Ilie father of the sertloT of Ihe Irust, and al the saine tinie to Inak¢ rharitable donations io ihose caiises that Ihc iru5tees coiisider iii iieed or assislance. The -friistees confirill that they paid due regard to the Charit>, Commission's giiidance on Pliblic benefit ii'hen deciding i¥lial aciivili¢s. the Chariiy iindcrtook in ihe icar and in planiiii)o ii'hat acliiiiiies it slioiild iindertaL¢ in the flliiire. The grani Iiiaking w)lic)' is set out in the paragraph beloii. and ihe Triislees confirm that all the gronls referred ihereiTI Ii".ere lor ihe ller11 of rhe public. PROCEDURES AF4D GRA.YT-MAKIf4G POLICY l-he Iriistees Iii¢et rIodICallY {<1nd are also in regular contaci) to cot15ider ii'l)at giai)Is the!, i¥'ill iiiake and to revicii" any f¢edback Iliej have reccived relaling lo past donations. Tlie triislees r¢ceiiJe iiiaiiy applications for assistance bill a Jiorniall), Ininded to help those %¥-iih a liiik to the Wallis family. In ihe past the Iiist¢cs cla]rjed lh¢ ¢auses Ihai ihey sought to benefit and rotated the diffcrenl classes f eliarities tliai benefited ]k"riodicall}. The Tnistees foiind ihai ih¢ calegorisation of Il)e ar¢as to benefit too restriGtii'e. and so tliey have Teverted to niaking discrciionary donalioiis lo aiiy global or local charitable purptsse tliai ciiher ihe Iriislees or ihe Ivallis fainily particularly ii'ish to suprknrt. Tl)e tl'LlSt does iioi aclivel), fundrdiRe and seeks to conliiiiie io beiiefii ¢haTilies in Ineilii), of l-"rancis Wallis Siir througli carefiil steil'ardship of its e.iisliiig rtsoiirces. Tliis year tl)irl¢en Cale5 i%'ere supported in additioii io ihe RNLI ii'hicli i5 supported aiiniiall}'. ACHIEVF.MENTS AND PERFORMANCE OFTHE TRUST Tlie Iriistees iec¢ivLd man) granl teqiies15 iii ilie J'edr: biit onl), cause5 brouJ<* il lo ¢li¢ (rtee5 bi. ii)eiiibers of tlie Wallis fainil). are successful. Tlic tl'Lislees 11)ade cash gra171s ioialling £33.750 10 chariiable ¢aiises as lisled in Noie 9 of tlie ac¢oui)Is. No doiiation plcdges i%'ere iiiade dLiriiiu Il)e )'ear. FINANCIAL REVIEW Tlic Iriist 1% Itliaiit on tlie iiicoii)c from ilg inkcsliiieiits ii'hich. includiiig baiik iiiieresi, lias £58.6.52 (2024 - £%9 8851. '1-his iJiLoriie faLililaied il)e il)drit)' s aciii'iljcF in Ihe i-.ar 10 31 M(ircl) ?02.$.
Page 2 THE F.J. WALLIS CHARITABLE SELEIE1T TRUSTEES, REPORT YEAR F.NDED 31 .ItARCH 2D25 eonlinue INVF.STMEP'T POLICY AN'D PERFORI¥IANCE I'he trustee s invesiment strategy is to set a balance betii'ttn income aiid capilal ¥roii111, predotniiiaiitl). iii VK-based equities ii.hich geneiaie high I'ields in accordance ii'iih ihe investment guidelines set by ihe 'l'riisiees as explained in the Risk Managemeiil section of iliis repom. TIIis iniiestineni polic). is iiiipleinei)ted b), the chaii[i s in¥'esi1enI manag¢rs Ii)wes1ec 'eall1] and liii'esli)iei)l in order to protect the value of ihe capital and income of th¢ eharil), in real terins over thc mediuin terin. Tlie Trustees noie that ihe inN'esiments ]x)rtfolio had a mark-et iialue al 31 MaiLlI ?025 of £2,100,971 againsi a valliaiion ai ihe ptevious year-end of £g,092.1:8, represeniing a sinall iiicrease in %'aliie diiring the )iear lo 31 March 2025. Oi'¢rall gain5 dLiiing the )'eai lo 31 March 2025 a]nounled to £20,757 {2024: £108.496), ii'hich M"'as represented by unrealised gaii)s on investinents of £31,208 and realised1055¢5 on disposals of £10.45]. The Triistees coniiniie io keep ihe selection of investtnenl manager undei a¢tive consideralion. The trusiee's ain) il'as originalli, to inaintain cash balaiices of no less ilian £iO,000 at ans, one tinie, i¥hich INould enable tliem to respond io any applicaiions for grants that The triisiees approve aiid to en5iir¢ thai sufficient fiinds are ai'ailable io cover support and goi'ernwicc c051S. In vieiv of rhe fact thai inletest generated bv iLI)-iiivesled cash iiDiild be relalively sino11 invesiment Inanager has inv¢51 parl ot the portfolio in Corrate FM)nds. Ivhich can be realised al irry 5hott notice and give a btrtier yield. RISK MANAGEMEIYT Tlie charity's trustees liai'e coniidered ihe major risks lo ivhith the c]ri1Y Is exposed aiid hai'¢ revieii'ed those risks and eslabli51ied sysieins and prttedures io mana£e those risk5. The triistees coiTrsider variabilil}' of investiiient retUTn5 on the peiiiianeni endoivineni to constilute tl)e charii) s iiiajor risk. In order tD counter this risk, Ihe trusiees have ensured thai rhe Iiiaiidate Éhat ihe), have giN'ei) io Ihe siockbrokers is a balance of income and groiiih io be iiivesied priinarily in UK eqiiilies. 'I"lie trustees have slated that no iiiitial invesimeni slTrould exceed I10 of the iotal value Of ilie fund. I'he total slim of all eqLlltI, l)oldings in excess of 5Vo Illilst i)ot be equal to or exceed of tl)e fLind s valiie al any tiiiie. Fiiiid based invesiiiienr5 11,hicli CT¢neraie diversificaiion. siicli as Ilie OTiginal iiiiesiineni Iade of £125,000 in tl)e Charitics Properl). fund can Lxceed Ihe 50/0 riile. 11 cannol ei¢ced 15 /¢ of ilie total valiie of ilie portfolio at tlie tiine of purcl)a%e. RF.SF,RVES Tlie slockbiDkers arc vciTr. fainiliar i&iili iiianagiing charilable portfolio> and s¢rL lo ii)ainiaiii a IEASOlldble incoiiie )'ield froin tl)e invesliiients iiiade. FrnSTI this iELi'esliiiciit objeciive il is coiisidered l)N' the Iriislee5 ilial Il)c)' iiill iiiuteci il)e iraliie ofilie capital aiid iiicoine in real ici)nS Olrer tl)e iiiediiiiii Tlie iriislccs K'cei) IIICIT Choice of siockbroKcr uiidcr active consideratinii. Tlie StLI)roK.e[s Inaiiage il)is objeLiive for ihc ¢lTraiil) s wnfoliD linder a Ilis¢itlionai')' In?iiagein¢nl 2o¥eeiiieiit iiiider poii'ers graiittd to the el)arit)' biy ille Charil). Coiiiiiiis5ioneTS in an OTdciscaled on *5 I.ebriiar) 1997.
Pagc 3 THE FJ. WALLIS CHARITABLE SELE11]ENT TRLSTEES, REPORT YEAR Ef4DED JI MARCH 2025 conlinucd PLANS FOR I'HE FUTURE Th¢ trustees I.]11 coiiiinue to eAaniine donation reqliests carefull), aiid iwill Inake donaiioiis to tliose cliaritable caLises ¥i-liich are selected. -I'he ir115tees ii'ill also eiideaiour to dei'elop (he capiial of the 5¢111ernenl so tliat a sigiiificant project can be iTrndertaken in meInor)' of Ille founders of the charity should the trustees so de¢ide. STRUCTURE, G0VEANCF. AND MANI AGEIIIENT The trust is aiTr iinincorporated irLlSI. con5tituied linder a trust deed dated 19 Marcl) 1979 and Slippleinental de¢d daled 19 December 1979, and 15 a registered ehaiily nLiiiiber 279273. 'riie triisl il'as esiablished b), an initial gift from Francis Jolin Wallis in Ineinoryr oll)is late faih¢r. also nained Francis Johii Illallis. The initial donaiion alloiied Il)e irusltts io eiiher reiaiii tli¢ ainoiinl given as capital or spend il. Ai thc time of the original gift. Ihe triistees chose io retain the ainount as capital. Tlie trust deed give5 Ilie trustees poii'er 10 apply the funds in such a inanner as they ihink fil io or for the benefit of any charitabl¢ objecl or pvrpose. Tlie p0er lo apwinl neil. trlislees initiall), vests ivilh ihe Clirrent inistees. one of ivhom is a meniber of the Wallis fainily and ihe other ii%o of ivhom are professional advisers lo the Wallis fainil), over iiiany years. -rhe trLlSt deed does not provid¢ for a minimiiTrii or Inakimum n11lber of in1eel The trustees 8Te appoiIiied for an iiidefinile period. Mr Francis Ivallis Jnr, the seltlorof I1 cliaTiiJi ivhilsi noi a irustee, contiiiiies io n)oiiitor Iht progress of the charil*. The irLlStees Leep the skills rcqiiiTement for lhe]selveS under revIV and. in il)e event that a tru51¢¢ peinianenil reiircs or li is decided thar neiy irustee5 ai¢ required. the triisiees ii-oiild iliilially seek applicalions fioin the WallÉs tamily and in the filial seleciion of ali). neiv Inisiees il)e vi¢1¥ of Francis Wallis Jiir i¥oiild be thkej) inio Acttsiint. Hoii'ever. the uliiillate decision oil seleciion is a mailer for the Wcre tl)eiE a I"eqiiireiiieiit for iie¥v triiiiees. these ii"OLild be identifjtd a1 appoiiiied bk ihe reinaining triistees. 'fhe)' ii'oiild be respoii%iblc for the indLlCtioii of any iieiily appoinied Iiiisiee. Tliis ii-ould ini'oli'e eiisuriiig tl)e neil. ITusiee Teceii'ed copies of the goi'erniiig docuineni. adniii)istrative procediire5. 111¢ lii51ory' arid approach of I1)e cl)arity and ils InveNIel)I Ix)licies. Ali!, Ii¢ii' Iriislee 'oiild also receiiye copies of irusiees Jniniitcs. copies of Ilie la41 three vears of anniial reporls ai)d accoiii)Is, a LOPY of tlie gToi'eriiiii¥ Iriisi d¢ecl and a LOPJ, of ilie Chatily C'oi)11)iissioiiers gliidaiice '"Th¢ Fssei)iial l-iiisiee-whai you need to knoii." Tlie Irusi doiiatioiis and aclniinistiation is liaiidled b). a Plc rt tiine eniplo}'ee of Fliiglies Collett Ltd. Tli rii'iii also l)andles ihe financial 41ffaiis of the cl)ariiJ-. iiKILiding pteparaiion of ilie accoiinÈs. The ainoiii)t P<iid fai" tliese services lia5 £i.100 (?0?4 - £4.500)
THE F.J. II'ALLIS CHARITABLE SETTLEI¥JENT TRLISTEES, REPORT YEAR EfiDED 31 IIARCH 2025 continued KEY MANAGEMENT PERSONNJ EL REMUNERATION The trusiees consider the board of iriisic¢5 a5 coiI)pri5ing the key Inanageiiieiit Onnel of the ¢hari15 in charge of direciiiig aiid Collliolling the charili. and rijnning and operalii)o Éhe cliaTltI' on a dai. to d&J' basis. All irustees giN'e freely of Ihcir liinc aT]d no trustee reilluneralion il'as paid in the J'ear. Deiails of Iriislees. eNpenses and relaied pari}, transacttons ale disclosed in note ? lo tlie accounts. REFERENCE AND ADI¥l11STRATlVE INFORhlATION Trustees Rev J J A Archer F H Hiiglies FJ Wallis P A Haivksley Principal Office Bridge Hoiise I I Creek Road Easi Molesey Siirre),. KT8 9BE In(lependent Eiaminer G N Birch Bircli Riddle & Co Lid 6 Orchard Close West Ei¥ell Siirrey. Kl'19 9NS Bankei Natll'esi Bank l High Stiyet Wcybridge Siirre),. KTI 3 SA Y Investnient Manage13 Rathboiies 30 Gresliain Street Loiidoii, EC2V 7QN
Page.5 THE FJ. IVALLIS CHARITABI.F. SELE}lENT TRLSTEES, REPORT YEAR ENDED 31 IMARCH 2025 continued TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATENIEIYTS Tlie charity tr115tees arc resporisible for prepaTing a trLlStees- aiinlial report and financial siateinenis i accordance ii.iil) applicable laiv and United Kingdorn Accouiiiiiig Standards (Liiiied KingdotH Generall), Accepred Accounling Practice). The laii. applicable to charities in Fngiand and Wales requires the charii), Irusttts to prepaTe financial staiements for each year ii,Iiich give a triic and fail vi¢ii" of ilie State ofaffair5 ofthe charii}' and of tlic incoiiiing resoLirces aiid application of resoiirces. of the charity for ihat peri(MJ. In preparing the financial slatein¢nt5 the irlisiees arc rcqiiired to-. • selcct siiiiable ac¢oiinling policies and iheii appli-' them ¢oiisistenil!" obserN'e the n)ethods aiid prijxiples in the applicabl¢ CliariÉies SORP- niake jiidgeinents and esiimates Ihat are reasonable and priident- state ii,hether applicable accouniine staiidard5 hai'e en folloiied. Slibject ro anj, Inaierial departLires rhat Init disclosed and eAplaii)ed in the financial siateiments: prepare the financial stateinenrs on ihe going concern basis unless il is inappropriaTe 10 presiinic ihat the charitj, i%ill continue iii biTrsines5. The triistees are responsible for Leeping proper accouniing r¢¢ords that disclose ii'irh reas(Inable acciii'ac J. at ans, tiine ihe linancial p05ilioii of trie chariiy and lo enable iheiii lo ensiire Ihal the financial statenienis eoii?ply ii'iih the Charilies Act ?01 l. the applirable Charities (Accounts and Reptsrt5) Rcgiilalioiis, aiid ihe PTOVlSlOI of the Triisi deed. Tlies are also tespon5iblc for safegiiardiii¥ the ass¢is of il)e charity aiid lakiiig reasotLqble S¢cps for the preventioii I1 detection of fraud and otlicr irreglilarities. ApproTred by the IrMstets o and sign1 on their behalf b!. 2025 F H HUGHES {TRUSTF.F.)
Page 6 INDEPENDEINT EXAIIIINER'S REPORT TO THE TRUSTEES OF THE FJ IVALLIS CH RITABLE SETTLEIENT YEAR ENDED 31 IllARCH 2025 I report lo ilie trLislees on rn). eiafflination of ihe accoiints of the ITUSI for Ihe }'ear elided 31 March 20?5. 11'liich are set oiil on pages 7 to 15. Responsibililie5 an(1 ba515 of report As the cliaTII) s triistees, >'oii are re5FX)n5ible for the prepardtion of Ihe xcounts in accordai)¢e 14'iih Ilie reqLiireinenls of the Charities Act ?01 I l-"Ihe Aci"). I repori tn r¢spect of Inv examination ofthe Tnill"s accoiints carried oiii under secTion 145 of the 2011 Aci aiid in carrying oui my examinarion. I have folloi%"ed all applicable Diiections gik'¢n by the Charti>' Coniinissioii under section 14515)(b) of the Act. Independent exAminer's slatement I have completed In} examination. I confirm that iio malerial Inatter5 have come to iiij, atteniion in coiineciion ¥% lili the exainination iihich give5 Ine caus¢ to belicie that. in an! Iiiaterial re5pcoI-. th¢ ac¢ounting records iyere noi kept in accordance ivith seclion 130 of the Cliarities Act. or the accoiints did nol accord ii'ith the a¢¢oiinting recoFds- or Ihe accounts did 1101 coiiiplN' ii'ith the appli¢abl¢ requiTements concerning the foim and content of accoiints sel OILI in the Cl)ariti¢s IAccoLiniS and Repons) Regiilatioiis 28 oilier tlian ali), reqLiirement ihal the accoiinls give a 'tTrie and fair vieii. iiliich 15 VQt a Iiiatier considered a5 part of an independenl ¢xainination. I have no conceriis and have coine a¢TOSS no oiher inall¢rs in coniieciioii ivitli the cxaiiiiiiation 10 ii"liicli alleiition slioiild bc draii"n in this re]xirt in order to eiiable a proper undeTsiandiiig of the accoiiiiis lo bc rcach¢d. 6 Orclii¢rd Clo5 West Eiiiell Siiri¢)' KT19 9NS G Fi Birch FCA Birch Riddle & Co l.til Charttred Accoiiiilant5 F)ate'. 202)
TIIE F.J. WALLIS CHAIUTABLE sELEIlNT STATEN.IEYT OF FINI AI'CIAL ACTIVITIES YEAR EliDED 31 .MARCH 2025 2025 2024 Inconic Investinent income 58,652 52.885 Expendiliire Costs of generating Invesimeiit In&)2geJn¢iit costs 9.705 10,837 F,xpenditure on charitable actii'ities t)oiTratioiis io cl)arititS 2nd related eipenses 40.351 42,321 Tot41 ¢ypeMditure 50.056 53,158 riet ineomel{expenditure) and net moi'ements ID before gain5 oll ini'e51ments 8.596 (2731 Nel ¥ains on ii)vestments 20,757 108,496 Net moi'ement in fiinds 29,353 108,223 Reeoneilialion of fund5 Total funds brougllt fon•ard 2,095.763 1,987,i40 Total funds carried foniird 2,125,110 2.095.763 'I'he iiot¢s thti pJge5 10 to li form pllrt thf Ihe%e finAncial staletiiei)tS
THE F.J. WALLIS CHARITABLE SETWLEVIENT BALA.NCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 Fixed assets Investmeiils 2.100.971 2,092,128 Current assets Debtors Cash at bank 418 30,3?7 409 9,226 Total f urrenl assets 30.745 9,635 Crcditors- Ainounts falling due iilthin one )ear 16,6(H)) (6,000) Nct eurrent a55ets 24,145 3,635 Total net a55ets 2.125,116 2,095,763 Funds of the charit)-: Unre5tricteil fiinils 2.125.116 2,095,703 Approi'ed b). the Trustees on 4-. .J LLIc_ 2025 FHHUG ES 'rhe notes on 10 ID IS form part of these fiiiancial slat¢meThts
THE F.J. WALLIS CHARITABLE SE LEIIIENT STATEIMENT OF CASH FLOIVS YEAR ETr'DED 31 .MARCH 2025 Notes 2025 2024 Net cash used in operating 4?Ctii'ities (49,465) (53.149} C45h floii's from ini'¢sling aclivities Ii)vestmeni ii)come 58.652 52.885 Ner salesl{PLtreha5e5) of iiiyestinenls 11.914 (21,£63) Net cash proi'ided b). investing aetiv&ti¢s 70.566 31.322 Chxnge in casli the year 21.101 {21,8271 Cash brougl)t fonyard 9,226 31.053 Cash carried foniard 30.327 9.226 'I'h&' nolr i)Jge5 10 th 1% forrn i)arl of these fiii*Trcial staleiiieiiis
Pagc IQ THE F.J. WALLIS CIIARITABLE sELEIlENT YEAR E)DED 31 IllARCH 2025 NOTES TO THE FINAh'CIAL STATEMENTS Accounting Policies B?6 515 of prepyration and going collrern The accoLints (financial stalellients) liai'e en prepared uiidtr historical cost coni'¢niion 'iih iten)s r¢¢oonised ai ¢ost or transaction value uiiless oil*riiise stat¢d iii tlie relei'ant iio¢els) to t11¢5e accoiin15. Th¢ fiiiaiicial statements ha'C bc¢n prepared in a¢¢ordance i%'iih tlie Sialenicnt of Rccoiniiieiid¢d Practice= Accoiinting and Rcpo."line b} Charitie5 PParIng tl)eir accoiiiits in accordance ii'iih ihe Financial Reporting Staiidatd 4)plicable iii tlie UK 81)d ?014 and ihe Financial R¢porling Staiidard Repiiblie of Ireland (FRS 102) issiied on 16 Jul} _ applicable in the United Kingdoin and Republic of Ireland {FRS 1021 and the Charithes Aci 2011. The Iriisl con5titules a public irnefit enlil}' as d¢fiii¢d by FRS 102. l-he Ir1151ees C0115ider ihal there are Do illal¢iial iinceiiaiiilies aLx>iit Ihe Triist's abiliiv io contlllLie as a going conc¢rn. Illiili rtSPCCt lo the next reportii)g period, ?025-26, th¢ Iiiost signifi¢ai)t are85 of iin¢ertainlJ ihai aft-eci the canj ing value of a55¢15 held by ihe TrLlSt are the level of inv¢still¢ni retLiin and the perforniance of investmenl Inarkels lsee ihe iiivestineiil policy and pcrfonnan¢e and risk matW(J¢ment seciions olthe trustees, annual ieport for more information) Incon]e rerognitio Donations are inelLided in incominn resoiirces ii"Iien Ihe!, are recciNable, excepl ii,heii th¢ donois specifv ihal the), miisl be iised in futLiTC accountiiig riods. or i%,here donor condili0115 hav¢ not been fiiifilled, in iihich case ihe iiicoine is deferred. Invesliiicnl InooEne is accounied for iihen receivable. Fund 51ru¢lllre The Charil), does not have aii}' reslricled fiinds or de5i¥iial¢d fiiiKls. All tlie Tru5tces fiinds repres¢TiI Geiieral Unreslricted Fiinds il'liicl) are e.ndable at ihe discrelioii of the Triislecs iii furtherance of the objects of ihe Charity_ Su¢h fLiyids in¢.1 be lield ii) order to fiiiaiiee boih ii'orkiiig capital aiid capital inveslmeii¢. E%peniJiture reeognitio Liabililies are recogiiised ag expenditiire as sooii as iliei'e is a le¥al or coiisiruclile obli4atlOl) cominiiiing Ilie cliarii}' to thal e.Ipendilurc. it is probable tlut seiileiiieiil ii.'ill bc r¢qiiiFed and tlie aii)OllTlI of ille obligatloll ¢311 be Ineasiii-ed reliabl)-. All expendiiiire is accoiiiiied for oii ali aecrLials basis. All eipenses iiicliidii)¥ SLipwrl cosls al goi'eii)ance costs are allocated or apportioiied to the applicabl¢ expendiluie lieadiiios. Graiiis pai'able are pa)'iiiciils iiiade to Ihird P<irtics iii tl)e fiinlieraiicc of Tlie cliai'iiable objecr% of Ilie Ti'iisl. In ilic of an Lincondiiioiial offer ili15 is accr111 once Ili¢ rli}ie1]r l)as bcei) iiorified of the gFraii( aiiard. Tlie i)olificatioii g7 li'e5 The Iccipieiit a rea%niiable expectaiioi) Illai Ihe). Ivill i-Lccive tlie one-)'e.Ir or iiiiilri-}'ear gTwiI. Giaiiis :IlVdrds thal are siibjecl 10 the rccii)ici)t fLilfilliiig perfoii)iaTiee Londiiions arc oTrli' CCILied ivl)eii (he ricipieJ)t l)£lS ell i)otifie(l of ilie gril Ilt aijd an). remaiiiiilu iinfiiifillell ¢oriclilion altscliiiig to Il)ai ¥raiii is ouiside of IIK coiitrol of the-l nist.
Pa(ye I I THE F.J. IVALLIS CHARITABI.F. SETTLEMENT YEAR ENDED 31 MARCH 2025 NOTES TO THE Fir1c[AL STATEIllENTS- continue(I Expenditure rceognitlon (continued) Provisitsns for grants are mad¢ ii'heii ihe intention to Iiiake a graiii has b¢eii ctsinTllLinicaied ro tlle reLipiei)t but theie is iincertahiity as lo ihe limiiio ofihe orani OT the aiiioiiTIt of graiil pa)'ablc. Alloeation of goi'¢rnance Costs Goveriiance cosis xre those cosis associated i%"ith meeting ihe consiiiiiiional and 5taluiory reqiiir¢inenls of the charii),. The), iiiclude thc costs of prcparing tlie 5taliilory accoiints. the cost ofihe independei)t e.Kamination. and c0515 linked to ihe straiegic manageiiieiit olihe charit!,. These costs hai'e b¢en allocaied to ¢xpendi(uie on ¢hariiable activities. Cost of raising fund5 The costs of generating funds ¢on5iST of invesiiii¢nt managemeiii costs. Charitable *etiYilies Cost5 of charitabl¢ activities include granis inade and governance costs. Fixed asset ItlY¢SlMenls Iiivesiinenls are a forni of basic financial illslriitnenl and are iniiialls, recogniscd al their iransactirjn value and 511bseqiienilv Ineasiired ai their fair value as al th¢ balance sheet date Iising tlie closing quoled InaTL'et price. The siaieinei)l of financial activitics includes tlie net gains and losses arising on revaluation and disp05a15 IhroughDui Il)e year. Thc I riisi does not acquire piit options. derivatii'es or other coinplex finantial in5trunienls. "I'he main foriii or rinaticial risk fac¢d b!, Ihe cl)aril) is that of volatilil). in cquily tnarkets aiid invesimeni iiiarket5 diie io ii'idei econoinic coiidilioJis. Ilie attitude of iniiestors to invesiii)eiil risk, and clianges iii sentiineiii concetniiig eqiiilies and i¥'ithin particular seciors or siib sectOTS. All gains aiid losses arc laken lo the Siaiement of financial Acti¥'ilies as tlie), arise. Realiscd gaiiis and 1055es on iiii'c51inents are caleLJlai¢d as ihe differeiLe betiveeii sales proc¢¢ds and Il)eir opening carr)'ing i'alue or their pur¢h95e value if arqiiired 511bsequeni to Ihe fl1 day of tlie fjiiancial year. Uiirealised gains and lo55es are calciilaied as the differeiice b¢lii'een tlie fair Vdliie at tlie >ear end and Il)eir carryiiig iialiie. Rialised and unrealised ii)vesiinei)I gaiiis and losses are coimbiiied ii) the Statcmeiil of Financial Aciivilies. Contingont liabilitios A coi)tingent liabilii). is idenlificd and disclosecl For rlK)5e gt2iits resiiliiiig froin.. a possible obligation ii.hieh ii'ill oiil!. be confirr]ied bv (he (tcun'ence of oiie or niore d presenl obligaiion folloii'iiig a grani offer ii.here ScitleiiieI is eiiher noi coi)sider¢d probable.. or Ilie aiknount not been Luiiiiiiiiiiicaied iii ihe giaiit nffer or il)e amoiiiit caniioi estijiialcd reliabl).
Paoe 12 THE F.J. IIIALLIS CHARITABLE SETTLEMENT YEAR ENDED 31 IIARCII 202 OTES TO THE FifiAICIAL STATEIIEjTS- coiitinued Relateil parh- Iransxetions and irustees, eipenses and remuneratio The trustees all giyc freely (heir lime and expenise ii'ithoiil anv fonn of r¢iMiineration or other l)enefit in cosh or kii)d {2024- £nil). In the )'ear Huolies Collett. 3 finn conlrolled b), F.H. Hliohes, a iriistee, pro.ided accniinlancy and administrdrion 5en'ices to the trust in the sum of £4.500 (2024- £4.5(X)). Ini'estment income 2025 2024 Dividends aiid iinit trust disiribuiions FIed inierest inconie Bank interesi 55,536 2,65 464 49,599 2,907 379 S8,652 52,885 Anal)'sis of e.Ypenditrt ots charit#ble aclii'ities 2025 2024 t)onaiions made in ihe year (noi¢ 9) Goirernance cosls= Accoiiniancy & adininistraiion Independeiit exainin¢r's fees Legal fees re appx)intTneni of nelv Trustee Bank charge5 33,750 35,000 5.100 1.5(Kl 4.5( 1,500 1.320 40.351 42,321 Fixed asset ini'estments Moi'ement in fi_xeql asset liste(l ini'estments Unr¢strieted funds 2025 Unreslricted fiin(Is 2024 M1( rk'el valiic at l April 2024 Additions at Cost DisP05als al carrying value Nct iitirealised inÉ iii Ilie year 2.092,128 I l i.472 1137.837) 31.208 1,962,069 342,167 (306.2101 94.112 Market allIe at 31 March 202$ 2.100,971 2,092.128 'et C?¢ sli IDI'¢sted in ini'cstments in the I'car: 2025 2024 Disposal proceeds Additioiis al cost 127.3S6 1115,472) 320,604 (342,1671 Nel cash in)-e5ted 11,914 (21.-5631
Page 13 THE F.J. WALLIS CHARITABLE sELEIENT YEAR EIJDED 3] .IIARCH 2025 NOTES TO THE FI.NANCIAL STATF.I.IEDiTS-eontinued Filed asset ini'e5tment$ (continued) Net gains investnlenls: 2025 2024 Net reali5ed (lossesy gains on disposa15 in the }'ear Net uiir¢alised gains in the year (10.451) 14,384 94,112 Net gains on ini'estments 20.757 108,496 Listed investlnents 2025 2024 Stocks and sliares Fixed Ii)lerest 1.98? 136 18,835 1,922.049 170,079 2,100.971 2,092.128 The significance of financial iiisirumenis io ihe ongoing financial SLlStain8bilit)' of ilie Trusi is considered in the financial re%'iei%' aiid invesimenÈ polic), aiid pcrforinance secrions of the Trustees. Annual Repon. Debtor5 2025 2024 Ac¢rLied investment iticome 418 409 Creditors- Aniounl$ falling due ii'ithin one )'ear 2025 2024 A¢¢riied donationg Accriied adiniiiisirative expenses 6.600 6.0(K) 6,600 6,000 Reconciliation of net n)0s'ement in (und5 to nel cash floii" from operatln2 actii'ities 2024 Nel i)ioveinent in fiiiid5 Dediict invesijiiej)l iii¢oiiie Dediict gains oli iiii'eslimenls {Iiicreasiyde¢itase in debtors Iiicrease in crcdilors 29.353 li8.652) {20.7.57) (9} 6tY) 108.223 {_$? 8851 1108.496) (49.46.51 (53.149}
P&ge 14 THE F.J. WALLIS CHARITABLE SEThLEMENT I'EAR ENDED 31 MARCH 2025 NOTF.S TO THE FINAf4CIAL STATEhlENTS- continued Donalions Tlie Triisiees Iiai'e Inade a nuinber of grJnt5 to insiiliiiions in ihe current )'ear, all of ii.hich fui1her the ob'ecliv¢5 of the cl)aril a5 folloi%"s'. Donee PiirtK>se 2025 2024 DEC Middle East Disaster relief aid s,000 Medicins Sans Froiiiier Hiiinaniiaiiaii mcdic81 car¢ 5.000 2,000 Crisis UK Siipport of tlichomele5S 2.500 Shelter Suppon of the hoiiieless 2.51X) Cardinal Hiitii¢ Centre Relicf of po¥'erty #nd h(Trinelessness 2.250 1,750 RNLI Maririme rexue 2,000 1,500 Watenllill Tli¢atre Nuituring Lhealre aiid tl)e rfonniiig arts 2.0 Canipliill Village -frust Adiilr learniiigdisabilily Advanceinenl of Chiisiia) for animals Proi-iding infomiali7 & Ivice to il)e public Catholic Concern for AniTna15 1.000 Citiiei)s Advice Haiiipshire 1,000 CLAAS UK l.euJl aid 10 [settlted religiou5 mino".itLes Trdn5POrt foimedical einergcncies 1,000 Haiils & 10111 Air Ainbiilancc 1,000 Mar), s Mcal8 Provisioii of scliool illeals 1.000 Opeii Doors Support of tetu[ed Chiiglians Researcl) iiiio Causes L i)reveiiiion of caiiccr Prosiaie Cl¢ Iic¢I- IJK 1.000 Strokc AsSOCi&11ioi) Pieventioii &. suprK>rt for Siroke siiffeTUS 1.000 2.000 Siirrei." & K¢ni Air Ambiil&ii)ce 'I'raiisport for medical ciiierb?eiicics l.(M)O
THE F.J. IVALLIS CHARITABLE SELEMENT YEAR EliDED 31 _IIARCH 2025 r*OTES TO THE FINANCIAL STATEIIE,NTS-eonlinued DOnlIonS (¢ODtinued) Don¢¢ Purwjse 2024 2024 iralerAid Siistainable iiiter. toilel and li)'giene s!sl¢ins Siipport 10 children. )'oung people and faillilies 1,000 Youth and Fainilies Mdn¢r 1,000 2.000 British Heart Foiiiidaiion CardioiTascLilaT research soo 2,000 ledical Detection t)ogi FArl) dereaion of dise415¢5 5.000 Choose Lov¢ Huinanilarian Aid 4.000 Oxfaitt- Morixco Earthquake Relief Disaster relief aid 4,000 UNICEF- Lib)a FIo(Kl Relief Disaster relief aid 4,0 Shelterbok'l'rLlSt SLlPPOrt of the hoineless 2.000 Illite Lodg¢ Centre Disabilit). supEort 2,000 Opeiaiioii Smile Medical care for clefi lip &. paleiie siifferers 1,750 Tlie Illinche5ter Beacoii Support of the homeless 1.000 33.750 i),000