THE BARBARA WHATMORE CHARITABLE TRUST Created b Deed dated 14th A ri11981 istered Number: 283336 ACCOUIYTS FOR THE YEAR ENDED 5TH APIUL 2024 INDEX Pxge Annual report I to4 Report of the independent examiner Statetnent of financial activities Balan¢¢ sheet Notes forn)ing part of the accounts 8t0 10 Grants payable Investments and in¢om¢ r¢¢eived 12to 14 KNOX CROPPER Page I THE BARBARA WHATMORE CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APIUL 2024 The trustees present their report for the year ended 5th April 2024. REFERENCE AND ADMINISTRATIVE DETAILS The Barbara Whatmore Charitable Trust is & Registered Charity No. 283336. The Principal office address is 3 Honeyhanger, Hindhead Road, Hindhead, Surrey, GU26 6BA. The Trustees who held oifice during the year and up to the date of this report We￿.. Mr L Gardiner (Chainnan) Mr D Borrow Mrs S Carter Mr D Eldridge Mr E Gardiner Ms G Lewis On 28 October 2024 Mr Luke Gardiner retir¢d as Chainnan and as & Truste¢. Mrs Denise Gardin¢r also retired as Administrator. Mr Edmund Gardiner was then appointed as Chairn)an and Ms Catherine Gardiner as Administrator. The Professional Advisers of the Charity are as follows.. INDEPENDENT EXAMtNER'. GNCD Stevenson FCA Knox Croppcr LLP Office Suite l. Haslemere House Lower Street Haslemere Surrey GU27 2PE BANKERS.. HSBC Bank plc 20 High Street Saxmundham Suffolk IP17 IDB SOLICITORS.. Veale Wasborough Vizards 24 King William Street London EC4R 9AT STOCKBROKERS.. Redmayne-Bentley LLP Market Place House 43 Mark¢t Pla¢e Henl¢y-on-Thames RG9 2AA STRUCTURE, GOVERNANCE AND MANAGEMENT Legal Status and Constitution The Charity was created by Trust Deed dated 14th April 1981. Trustees Appointtnent and TrAining The Trustees are recruited and appointed as and when required by the remaining Trustees and provide a range of p¢rtin¢nt skills and knowledge. New Trustees ar¢ inducted by the other Trustees and may attend r¢l¢vant training courses. Page 2 THE BARBARA WHATMORE CHAIUTABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APIUL 2024 (Continued) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Management Arrangements The Trustees tne& half yearly to monitor the activiti¢s of the Charity, including the investment perfomiance. During the year, the day to day administration of the Charity is now undertaken by Mr E Gardiner and Mr D Eldridge with Ms C Gardin¢r providing a focal point as trust administrator. Appropriate advice and support is also provided by the Charity's professional advisers. Risk Management The Trustees continually review the major risks to which the charity is exposed, in particular those related to the finances of th¢ charity, and are satisfied that systems are in place to mitigate their exposure to major risk. The major risk of the charity is its investment portfolio. OBJECTS AND ACTIVITIES Objects of the Cbarity The objects of the charity, as set out in th¢ Trust Deed, are.. to foster and promote the education of the general public in the appreciation of the arts and music, the relief of poverty, such other purposes recognised by the law of England and Wales to be exclusively charitable. Criteria for Grants Within these obje¢tives, the Trusi funds carefully chosen ¢ultural and heritage preservation projects in the UK (especially East Anglia). Eligible areas include support for.. Schemes or bursaries for classical music eduealion, to enable young musicians lo attend courses or music groups and orchestras, to provide practical experience for singers and inslrumentalists with the prospect of a career in classical music; conservalion and crafts Iraining, via bursaries to recognised higher educational teaching organisations- educalion projecls in mxFeums, Ihe ilieatre and poelry, which inspire young people and enhance their experience. Conservalion of Specific endangered liistoric arlefacls and of th¢ nalural heriluge emvironmenl is also eligible, as ar¢prevenliveprojecls to protect historic or natural collections. Exelusivn& The Trust never funds repair work to the fabric of buildings or structures, nor the purchase of musical instruments or works of art. Choral societies are ineligible as are f¢stivals. Individuals cannot be funded directly. All applications must be on behalf of a registered charity. Application process The Trust holds meetings twice a year in April and October. Applications should be sent to the Administrator, either by post or as an email attachment, to the Principal otTice address. Applications can be received at any time, but not later than 15th March or 15th September to be in time for Consideration for in¢lusion on the Agenda of the following month's half_yearly meeting. Pag¢ 3 THE BARBARA WHATMORE CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) OBJECTS AND ACTJVITIES {¢ontinued) objectiv￿ for the Year The entire funds for the Charity were provided by the late Barbar& Whatmore and the Trustees seek to make grants, within the ternis of the Trust Deed, that are &pproprial¢ as a memorial lo her. ACHIEVEMENT AND PERFORMANCE A¢hievement of Objective and Public Benefit The Charity continued to make donations to appropriate Charities, which this year totalled £85,384, as listed in the Not¢s to the Accounts> page I l. In making these grants the Trustees have referred to the guidance contained in the Charity Commission's guidan¢¢ on public benefit. In particular the TNstees considered how planned activities contribute to the aims and objectives of the Charity and are satisfied that this is the case. Grant Making Policies Grant applications are reviewed lo ensure they comply with the requirements of the Charity and the Trustees authorise ¢a¢h paytnent. FINANCE REVIEW Results for the Year The Charity plans to expend its income on charitable donations, whilst keeping its capital intsct. In the year the Charity r¢¢eived investtnent incom¢ and bvlnk interest of £89,515 and expend¢d £87,445, resulting in net in¢ome for the period of £2,070 before losses on investment assets. The Charity saw an increase of £108,438 in the market value of its investments during the year. The investment portfolio is managed professionally. Reserves Policy The Trustees maintain sufficient reserves in the Income Fund to meet ¢xpe¢ted direct charitable expenditure. The Capital Fund is invested to produce income for the Income Fund. FUTURE ACTIVITIES The Charity will continue to generate income to make grants to charitable bodies. Page 4 THE BARBARA WHATMORE CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) STATEMENT OF TRUSTEES, RESPONSIBILITIES 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 state of the charity's financial activities during the year and of its financial position at the end of thc year. In preparing thos¢ fin8n¢ial statements, giving a true and fair view, the trustees should follow best practice and.. s¢le¢t suitabl¢ a¢counting policies and apply them consistently. make judgements and estimates that are reasonable and prudenL state whether applicable accounting standards have been followed subject lo any material departures disclosed and explained in the financial statements; prepare financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate. The Trustees are responsible for keeping proper a¢countin8 records which disclose with reasonable accuracy at any time the financial position of the Charity and whi¢h enable them to ensure that the financial statements comply with r¢levant l¢gislalion and the trust deed. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. BY ORDER OF THE TRUSTEES IA6 L GARDtNER CHAIRMAN 290 OIL 2024 Page S THE BARBARA WHATMORE CHARITABLE TRUST REPORT OF THE INDEPEIYDELYf EXAMINER TO THE TRUSTEES I report to the trustees on my examination of the a￿Ounts of the Barbara Whalmore Charitable Trust (the Trust) for the year ended 5th April 2024, which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is mad¢ to the Trustees, as a body, in accordance with the ternis of my engagement. My work has been und¢rtaken so ihat I might carry out an Independent Exatllination of the financial statements in accordance with the General Directions given by the Charity Commissioners. To the fullest extent pemiitted by law, I do not accept or assutne responsibility to anyone other than the Trust and the Trust's Trustees as a body for my work or for this report. Responsibilities and basis of report As the Trustees of the Trust you are responsible for the preparation of the accounts in a¢cordance with the requirements of the Charities Act 2011 ('Ihe Act,). I report in respect of my examination of the Trust's ￿Ount$ carried out under section 145 of the 2011 Act and in carrying out my exaTnin&tion I have followed all applicable Dir¢ctions given by the Charity Comtnission under section 145(5)(b) of the Aet. Independent examiner's statemeDt I have ¢otnpleted my examination. I confinn that no material matters have come to my attention in connection with the examination giving me ¢ause to believe that in any material resp¢¢t'. accounting records were not kept in respect of the Trust as required by section 130 of the Act. or the accounts do not accord with those records. or the accounts do not cotllply with the applicable requireTnents concerning the forni and content of accounts set out in the Charities (A¢¢ounts and Reports) Regulations 2008 other than any requir¢ment that the accounts give a true and fair view which is not a matter considered as part of an ind¢pendent examination. I have no concerns and have cotne 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 accounts to be reached. Office Suite I, Haslemere House Lower Street, Haslemere Surrey GU27 2PE Greg Stevenson FCA Knox Cropper LLP Chart¢red Accountants /li/loL4 Page 6 r4 ¢< u Page 7 THE BARBARA WHATMORE CHARITABLE TRUST BALANCE SHEET AT 5TH APRIL 2024 2024 2023 Notes FIXED ASSETS Investtnents 2,193.183 2.084,745 2,193,183 2,084,745 CURRENT ASSETS Balances at bank 64,477 62,456 64,477 62.456 CURRENT LIABILITIES Professional fees Unpaid grants 1,380 3,000 1,380 3,000 4,380 4,380 NET CURRENT ASSETS 60,097 58,076 £2,253,280 £2,142.821 Represented by UNRESTRICTED FUNDS Capital fund Income fund 2,193,183 60,097 2,084,745 58,076 £2,253,280 £2,142,821 The accounts set out on pages 6 to 14 were approved by the trustees and are signed on iheir behalf. ) TRUSTEES 29tA 2024 Page 8 THE BARBARA WHATMORE CHARITABLE TRUST NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 5TH APIUL 2024 I. ACCOUNTING POLICIES (a) Basis of Preparation and Assessment of going concern The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes lo these accounts. They have been prepared in accordanee with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Finan¢ial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 effective January 2019) and the Charities Aet 2011. The accounts have been prepared lo give a 'true and fair view, and have departed frotn the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure involved following Accounting and Reporting by Charities preparin8 their ac¢ounts in a¢cordane¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recomtnended Practice effective from l April 2005 which has sin¢¢ been withdrawn. The Charity conslitules a public benefil entity as defined by FRS 102. The Trustees consider that there are no uncertainties about the Charity's ability to continue as a going eoneern. The Charity has tsken advantage of the exempuon not to prepa￿ 2 cash flow ststement. (b) Funds The Capital and Income Funds r¢pr¢senl the funds of the Charity that are not subject to any restrictions regarding their us¢ and are available for application to the general purposes of the Charity. Funds designated for a pthicular purpose by the Charity are unrestricted. Restricted Funds are funds which are used in accordance with specific restrictions imposed by donors or whi¢h have been raised by the Charity for a particular purpose. (c) Ineome All incom¢ is recognised once the charity has entitletnent to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. (d) Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlemenl will be required and the amount of ihe obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governan¢e wsts are allocated or apportioned to the appli¢able expenditure headings. Page 9 THE BARBARA WHATMORE CHAIUTABLE TRUST NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 I. ACCOUNTtNG POLICIES (continued) (e) Inv￿tMentS Inv¢slments are a form of basic financial investment and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date using th¢ closing quoted market price. The statement of finan¢ial aetivities includes the net gains and losses arising on revaluations and disposals throughout the year. Realised gains and losses on investments are calculated as the differ¢nce between sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculatsd as the difference between the fair value at th¢ year end and their carrying value. ID Current Assets and Liabilities All known current assets are brought into the awounts at the amounts which they are expected lo realise. All known liabilities are brought into th¢ a¢¢ounls at their expe¢ted cost. 2024 2023 2. CHARITABLE ACTIVITIES To charitable and 'not-for-profit' organisations (page I l) A¢countan¢y fees Trustees expenses Legal fees Bank Charges Investtnent Managers 85,384 1,380 510 87,776 1,380 655 71 100 72 £87,445 £89,883 3. tNVESTMENTS (pages 12 to 14) Market value at 6th April 2022 Additions at cost Disposal proceeds Realised gains and (losses) on di%posals Unrealised (Ios5es)/gains on revaluation 2,075,409 8,306 (8,277) 16 108,373 2,123,226 9,308 (57,125) 2,183,827 2,075,409 Cash at Investment Managers 9,356 9,336 Market value at 5th April 2023 £2,193,183 £2,084,745 Historical cost of investments £1,259,615 £1,253,760 Page 10 THE BARBAtLI WHATMORE CHAIUTABLE TRUST NOTES FORMING PART OF THE Accouwrs FOR THE YEAR ENDED 5TH APIUL 2024 Continued SUMMARY OF NET ASSETS BY FUNDS Unrestricted Funds Capital Income Total 2024 Jnvestments Balances at bank 2,193,183 2,193,183 64,477 64,477 2,193,183 64,477 2,257,660 Current liabilities (4,380) (4,380) £2,193,183 £60,097 £2,253,280 2023 Investments Balances at bank 2,084,745 2,084,745 62,456 62.456 2.084,745 62,456 2,147,201 Current liabilities (4,380) (4,380) £2,084,745 £58,076 £2,142,821 TRUSTEES, REMUNERATLON Reimbursement of expenses made to the trustees in respect of the year amounted to £510 (2023.. £655). Pagell THE BARBARA WHATMORE CHARITABLE TRUST GRANTS PAYABLE FOR THE YEAR ENDED 5TH APRIL 2024 2024 2023 Edward James Foundation Southbank Sinfonia Benedetti Foundation City & Guilds of London Art School Edward Barnsley Educational Trust English Heritage English National Opera London Philharn]onic Orchestra London Sinfonietta London Symphony Orchestra National Youth Orchestra St Nicholas, Little Saxham Textile Conservation Centre Welsh Nation&] Oper Pro Corda Foundation for Young Musicians M¢n&gerie Theatre Prince's Foundation Royal Horticultural Society Wiltshire Wildlife Trust Dartington Music Summer School Garden Museum Little Ouse Headwaters Project Royal Society for Lit¢rature Church Conservation Trust Ashmolean Museum Britten Pears Arts Chelsea Physic Garden Gainsborough's House JMK Trust Morley College Polka Theatre Sherborne Douzelage Suffolk Napoleonic Volunteers Painting 5.000 4.500 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 3,575 3,000 3,000 3,000 3,000 3,000 2,500 2.309 2,000 2,000 500 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 3,000 2,776 3,000 3,000 3,000 2,000 2,000 4,000 3,000 3,000 4,000 500 3,000 500 3,000 £85,384 £87,776 (page 9) (page 9) 8 8 8 8 8 8 8 8 8 8 8 13- 11 CL & £L ljjiJll-,15I° IE.1 E 'Iliilllilllklll'.Ii1113J I £EVE￿￿￿e￿O￿￿E o>o>o