CHARITY REGISTRATION NO. 285197 THE NORTHWICK TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE NORTHWICK TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Ms A U Willcocks CBE Ms X R Vaughan Wlliams Miss K R Willcocks Mr P G M¢Carlhy Ms H J E Shuckburgh Dr T P Blylh Mr N D Cumming Charlty number 285197 Prlncipal address 13 Queensway Wellingborough Northamplonshire NN8 3RA Audltor Wenn Townsend 30 Sl Giles Oxford OX1 3LE Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Investment advisors Inve5tec Wealth & Investment Lim((ed 2 Gresham Street London EC2V 7QN Newton Investment Management Limited 160 Queen Victoria Street London EC4V 4LA
THE NORTHWICK TRUST CONTENTS Page Trustees, report Slalemenl of Iruslees, responsibilities Independent audilorfs report Slalemenl of financial activities Balance sheet Notes lo the financial slalemenls 9-17
TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and the audited financial 51alementS DI the charity for the year ended 31 March 2025. The Tru51ees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities. in preparing the annual report and financial statements of the charity. Structure, objectives and activities The Northwick Trust was generously endowed by Willrid Willcocks during his lifetime and from his eslale, following hi5 death in 2011. The Trust was established by a Deed of De¢laralion made on 6 March 1982 and registered with the Charity CommissiL)n under reference 285197 on 13 August 1982. The Trust'5 objectives are lo support general charitable purposes. The Trust make5 grants lo other registered ch8rilies. In furtherance of these obje¢live5, the Trustees idenb'fy suitable oiganisalions. ensure they meet the charitable objectives and award appropriate grants. Grants are made lo charities, primarily carrying out a¢livilies in the UK but also overseas. focusing on conservation, prolecling the natural environment, providing relief of suffering and hardship, enabling life- enhancing opportunities lo the rnenlally and physically disabled and encouraging youth work concerned with helping the community. A number of factors are taken Énlo account when awarding grants. including". the effectiveness and impact of the charity,. the level of adminislralion costs (including how much senior exe¢ulives in the charity are paid),. the financial position of the charity, and whether the operations of the charity are on a scale that could benefit signilicanlly from the amount of the donation. The Trustees receive feedback on how the grants have been used, and, when pracb'cable. visit projec15 to which grants have been given or meet with representatives of the charities. Achl&v8ments and performance During the period grants lolalling £393,00012024'. £431,000) weie awarded. Full details of the grants awarded during the year are given in the notes lo the accounts. The Trustees are pleased that the Trust has been able to support 2 wide range of worthwhile activities bDth in the UK and overseas. The assets of the Trust al the beginning of the year were invested in fixed asset investments and short-term deposits and are now invested in a pooled fund, fixed asset investments and short-lerm deposits. Al 31 March 2025 the Trust's accumulated funds amounted lo £12,096.696 lal 31 March 2024 the accumulated funds were £12.162,3671 The Trust has no employees and undertakes no fundraising. The Trustees confim that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's alm5 and objectives and in planning lulure activities and setting the giant making policy for the year. Financial rèview and reserves policy It is the policy of the Trust to invest the Twst's as5et5 to generate returns over the long term and to make donations to suitable organisations operating within the fields which meet the charitable activities. The Trustees have unrestricted power of investment, however we have decided as a matter of policy lo favour responsible and sustainable investment opportLJnilies. Outgoing resources exceeded incoming resources by £202.47812024.' Outgoing resources exceeded incoming resources by £193,2411. This Coupled with nel unrealised and realised investment gains of £136,80712024'. gains of £863,530) resulted in funds of £12,096.696 as al 31 March 20251£12,162,367 al 31 March 20241. The Trustees are satisfied that there are sufficient funds available to carry out the Trust's aims. The Trust has no employees and does not Consider il needs to hold reserves for any particular purpose. The Trust has no reslricled funds. ReseNes decreased by £65.67112024'. increase of £670,789). The Trustees are satisfied that the Trust can continue to provide public benefit and lo meet rts objectives.
THE NORTHWICK TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) The Trustee5 have assessed the major risks lo which the Trijsl might be ¢xposed and review them regu18rly. They are satisfied thal systems are in place to mitigate these risks. To dale. these risks are considered ID have been mainly related lo inveslFllenl risks. These have been 8melioraled by diversified portlolro management Inow through a pooled fund}. the appointment of professional investment advisers and being able lo lake long-lemi view in relation lo Investment markets. Inveslec weie appointed in July 2012. Followng 8 tender 8xeici$e during the year, the Truslees decided to appoint Newton Investtnent Management Lirniled in September 2024 and most of the fund5 were transfetred by November 2024. Some funds are still held with Investe¢ and will be transferred overlhe coming monlhs. As described abctrve. various checks are made before grant5 are awarded. General operating iisk is minimised by the regular review of Ihe Charity's activities by the Trustees. Trustees The Trustees who served during the year and up to the dale of signature of the financial slalements We.. Dr Thomas P Blyth Mr Norman D Cumming Dr Andrew Laurie Mr Pelei G Mccarthy rs Mary P Morgan Ms Hannah E Shuckburgh Ms Xanlhe R Vaughan Williams Ms Anne U Willcocks C8E Mis$ Kale R Wllcocks Dr Andrew Laurie resigned from the Trust after 10 years in July 2024 and Mary Morgan resigned as a ToJstee in January 2025 after over 20 years on the Trust. The Trustees are very grateful for the contribution they both m8de to the Trust's work. Dr Thomas Blyth and Mr Norman Cumming were appointed as Trustees in November 2024. The quorum for decision-making was reduced from 5 Trustees lo 4 in June 2024. The power to appoint new TTUStees rests with the currènt Trustees. As new Trustees arè appointed. they receive appropriate briefing on the objectives of the Trust and the duties and powers of the Trustees. Approved by the Trustees and signed on their behalf by.. Annè Will¢o¢ks CBE Tru51ee Dated.. ?
THE NORTHWICK TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustee5 are responsible for preparing the Trustees, Report and the financial slalemenls in accordance wilhapplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and Wales requires the Iruslees lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the trust and of the incoming resources and application of resources of the trust for that year. In preparing these financial slalements, the Iruslees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 1021., makejudgemenls and eslimales that are reasonable and prudent., slate whether applicable accounting slandarcls have been followed, subject lo any material departures disclosed and explained In the financial stalemenls". and prepare the financial slalemenls on the goin9 concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounllng records that disclose with reasonable accuracy at any lime the financial position of the trust and enable them lo ensure that the financial slalements comply with the Charities Act 2011. the Charity IAc¢ounls and Reports) Reoulalions 2008 and the provisions of the trust deed. They are also responsible for safegu8rding the assets of the trust and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities.
THE NORTHWICK TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE NORTHWICK TRUST Opinion We have audited the financial slatem&nts of The Greening Lamborn Trust Ilhe '¢harily'l for the year ended 31 March 2025 which comprise the Slalement of Financial Aclivilie5, the Balance Sheet and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting StandaKI applicable in th8 UK and Rgpublic ol Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as al 31 March 2025. and of ils incoming resources and application of resources, for the year then ended", have been properfy prepared in accordance with United Kingd¢)m Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We condu¢led our audit in accordance with International Standard5 on Auditing IUKI IISAS IUKI) and appli¢able law. Our responsibilities under those standards are further described in the Auditor's responsibililies for the audil of the financial statements section of our report. We are Independent DI the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'5 Elhi¢al Standard, and we have fulfilled Dur other ethical responsibilities in accordance with these requirements. We believe that the audit evidenGe we have obtained is sufficAenl and appropriate lo provide a basis for our opinion. Con¢lu5ions relating to going concern In auditing the financial slalemenls, we have concluded that the trustees. use of the going concern basis of a¢¢ounling in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to gvenls or conditions that, individually or collectively, may cast significant doubl on the ¢harily's (charitable company's) ability to continue as a going ¢oncern for a period of al lea51 twelve months from when the financial statements are aulhorised for issue. Our responsibilbties and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other information. The other information ¢omprise5 the information included in the Iiuslees. annual report, other than the financial slalements and our audiloi's report Ihereon. Our opinion on the financial slalemenls does not cover the olher information and. except lo the extent otherwise explicitly slated in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial slatemenls, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl TArilh the financial slalements or our knowledge obtained in the audit or olhetwise appears to be materially misslaled. If we identify such material inconsistencies or apparent malerial misslalemenls, we are required lo determine whether there is a material misstalemenl in the financial slalemenls or a material misslalemenl of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other inlomalion, we are required lo report that fact. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE NORTHWICK TRUST Matters on which we are required to report by exception We have nothing lo report in respect of the following matters in relation lo which the Charities (Accoun15 and Reports) Regulations 2008 require us lo report lo you if, in our opinion. the informallon given in the financial statements is inconsistent in any material respect wlth the trustees. report," or sufficient accounting records have not been kept., or the financial slalements are not in agreement with the accounting records., or we have not received all the information and explanations we require tsr our audit. Rèsponsibilitie5 of trustees As explained more fully in the Iruslees, responsibilities slalemenl set out on page 3. the trustees are responsibl foi the preparation of financial slalements which give a tiue and fair view. and for such internal control as the Iruslees determine is ne¢essary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls. the Iruslees are responsible for assessing the charity's ability to continue as a going concern, dis¢losing. as applicable. mallers related to going concern and using the going ¢on¢ern basis of accounting unless the Iruslees either intend lo liquidate the Charity or lo cease operats'ons, or have no realistic allernalive but lo do so. Audltorfs responslbllitie5 for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstslemenl, whether due to fraud Qr error, and to issue an auditor's report that include5 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 dele¢l a rnalerial misslalemenl when il exists. Misstalemenls can arise from fraud or error and are eonsidered material if, individually or in the aggregate. they could reasonably be expected lo influence the eeonomic decisions of users taken on the basis of these financial stalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulalions. We csesign procedures in line with our responsibilities, ouuined above, to delecl material misslalements in respect of irregularities. including fraud. The spe¢ifi¢ procedures for this engagement and the extent lo which these are capable of delecling irregularities. including fraud Is detailed below.. Enquiry of management. those charged with govemance around actual anLI potential liligats'on and claims and any instances of non-compliance with laws and regulations., Reviewing rninules of meetings of those charged with governance; Reviewing financial statement disclosures and testing lo supporting documentation to assess Compliance with applicable laws and regulations", Performing audit work over the risk of management override of controls. including lesling of joumal entries and other adju51rnents for appropriateness, evaluating the business rationale ol significant transactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading lo a material misslalemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and Iransa¢lions refleeled in the financial slalemenls, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregLJlarilies occurring due to fraud rather than error, as fraud involves intentional concealment. forgery. collusion, omission, or rnisrepresentation. A further des¢riplion of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web511e al.. wvM.fr¢.org.uklaudilorsresponsibilities. This description forms part of our auditor's report.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE NORTHWICK 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 slate to the charity's trustees those matters we a requiied lo slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Iruslees as a body, for our audit work, for this report. or for the opinions we have formed. Wenn Townsend Chartered AG¢ountants Statutory Auditor 2025 30 Sl Giles Oxford OX13LE Wenn Townsend is 81igible for appointment as auditor of the trust by virtue of ils eligibility for appoinlmenl as auditor of a company under of section 1212 of Ihe Companies Acl 2006
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Unrestricted funds 2024 Income from: Donations and legacies Investments 150 255.421 112 297,198 Total income 255.571 297.310 Expendlture on.. Raising funds Investment management 60,067 55,085 Charitable activities 397,982 435.486 Total resources expendèd 458,049 490,551 Nel gainsll105sesl on investments 136.807 863,530 Net movement in funds 165.6711 670.289 Fund balances al 1 April 2024 12,162,367 11,492,078 Fund balances at 31 March 2025 12.096,696 12,162,367 The statement of financial activities includes all gains and losse5 recognised in the year. All income and expenditure derive from continuing activities.
BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Inveslrnents 11 12,091.526 11,992.090 Current ass8ts Debtors Cash at bank and in hand 12 30 9.040 22 188,213 9.070 188,235 Creditors.. amounts falling dua withln one year 13 13.900) 117.9581 N61 current assets 5,170 170,277 Total asset5 less current liabilitTres 12,096,696 12,162,367 Income funds Unre51ricted funds Designated fund5 General unrestricted funds 14 72,095,613 1,083 12.020,640 141.727 12.096,69S 12,162,367 12,096,696 12,182.367 The financial statements We approved by the Trusiees on -2025 Signed on behalf of the Board of Trustee5 , Ill QQr.X,I+LJ Mr P G M¢Carthy Trustee Th• notes on pages 9 to 17 form part of these finan¢ial statements
THE NORTHWICK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policles Charity information The Northwick Trust is a Trust established by a Deed of Declaration rnade 6 March 1982. 1.1 Accounting convention The charity constitutes a public beneh'l enlily as defined by FRS 102. The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. Slal&menl of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom end Republic of Ireland {FRS 1021. the Charities Act 2011, and UK Generally Accepted Accounting Pracb"ce. The financial slalemenls are prepareLI on a going concern basis under the historical cost ¢onvenlion, modified lo include certain items al fair value. The financial slalements a presented in sterling which is the functional currency ol the charity and rounded lo the nearest £. The significant accounting policies applied in the preparation of these financial slalemenls are set out below. Thes& policies have been consistently applied lo all years presented unless othetwise staled. 1.2 Going concern Al the lime of approving the financial statements. the Iruslees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis of accounting in preparing the financial slalemenls. 1.3 Charitable funds Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Deslgnaled funds comprise unrestricted funds that have been sel aside by the trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial slalemenls. 1.4 Income recognitlon Income is recognised when the trust is legally entitled lo rt after any performance conditions have been mel. the amounts Can be measured reliably, and il is probable that income will be receivod. Cash donations are recognisèd on receipt_ Other csonalions are recognised once the trust has been nolifiedof the donation, unless performance conditions require deferral of the amount. Income lax recoverable inrelalion lo donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the trust has been notified of an irnpending distribulion.the amount is known, and receipl is expected. If the amount is not known. the legacy is treated as a contingent a5sel. 1.5 Expendlture recognition Liabilities ale recognised as soon as there is a legal or conslruelive obligation commilling the charity lo Iheexpendilure. All expenditure is accounted for on an accruals basis and has been classified under headingslhal aggregate all costs related lo the category.
NOTES TO THE FINANCIALSTATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 202S Accounting policies {continuedl Charitable expenditure comprises those costs incurred by the charity in Ihg delivery of ils activities and services for its beneficiaries. 11 includes both Costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include costs of the preparation and examination of the slalulory accounts. the costs ollruslee meetings and the cost of any legal advice lo trustees on governance or conslilulional mallers. Grants payable are payments made lo third parties in the furtherance of the charitable obleclives. Wherelhe charity gives a grant with conditions for ils payment being a specific level of service cr output lo be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specific service or output. Grants payable without performance Conditions are only re¢ognised in the a¢¢ounls when a commitment has been made and there are no conditions lo be mel relating to the grant which remain in the control of the charity. Provisions for grants are made when the intention to make a grant has been communicated lo the recipienlbut there is uncertainly about either the timing of the grant or the amount of grant payable. 1.6 Investments Investments are recognised initially al lair value which 15 normally the transalOn price excluding transaction costs. Subsequenlly, they are measured al fair value with changes recognised in 'net gains I (ltsssesl on investments. In the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured al cost less impairment. 1.7 Cash and cash equivalents Cash and cash eqLJivalenls include cash in hand, deposits held al call with banks, other shorl-lerm liquid investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Debtors and ¢tI[tOrS receivable I payable within one year Debtors and creditors with no slated interest rale and receivable or payable within one year are recorded at transaction price. Any Sosses arising from impairment are recogni5ed in expenditure. 1.9 Tax The charity is an exempl charity within the meaning of schedule 3 of the Charilies Act 2011 and is considered to pass the lesls set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitsble company for UK corporation lax purposes. Critical a¢counting estimatas and judgements In the application of the trust's accounting policies, the Iruslees are required lo make judgements. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent frorn other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ frorn these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects onty Ihalperiod, or in the period of the revision and future periods where the revision affects both current and fulureperiods. -10-
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Donatlons and legacies Unrèstricted Unrostri¢ted funds funds 2025 2024 Donations and gifts 150 112 Investments Unrestricted Unrestrlcted funds funds 2025 2024 Income from li51ed investments Interest receivable 206.877 48,544 208,608 88,590 255,421 297,198 Raising funds Unrestricted Unrestricted funds fund5 2025 2024 Investment management 60.067 55,065 60,067 55.065 Charitable activities Unrestrlcted Unrestricted funds funds 2025 2024 Grant funding of activities Isee note 71 Share of govemance costs (see note 81 393.000 4,982 431,000 4,486 397,982 435,486
NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Grants payable 2025 2024 Grants to institutions Acorns Children Hospice Action for Conservation Action for Refugees in Lewisham African Hospital Library Aphasia Reconnect Arthur Rank Hospice Aspire Oxford Baby Bank Network Baby Basics Bath Cty Farm Bedlordshire, Cambridgeshire and Northampton5hire Wildlife Trust Birth Companions Bug Life Calibre Audio Calvert Trust Cardinal Hume Centre CF Dream Children Heard and Seen Cogwheel Common Wheel Community Association of Lochs and Sounds Cranley Hospice David Noel Foundation Daylight Centre Vvellingborough Demelza Hospice Designabilily Encompass Foodbank Esteem Elhiopiad Fareshare Fear Free Fieldsludies Council Forest Schools Camp Global Green Grants Growth UK Gua Africa Hope Hospice Karuna Living Options- Devon Longford Trust Loss Foundation 10,000 15,000 15,000 10,000 5.000 5,000 10.000 5,000 8,000 3,000 15.000 15.000 15,000 10.000 7,500 5,000 15,000 10.000 10.000 10.000 7.500 5,000 10,000 10,000 2.000 10,000 10,000 10,000 5,000 10,000 5,000 10.000 15,000 8,000 20,000 10,000 15,000 5.000 5,000 5,000 15,000 8,000 5,000 8,000 -12-
NOTES TO TPIE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Grants payable (continued) 2025 2024 Medi¢ins sans Frontieres Mercy Ships Migraleful Mummy's Star National Trust Noilhhamptonshire Carers Oakfield - Easton Maudil Off the Record Open Up Music Ocean Youth Trust Practical Action Reducing Risks Restore River Action Group Seesaw Soil Assocab'on Sl David's Hospice Sl. Vincent Hospi¢e Seeds 4 Suc¢ess Sussex Beacon Hospice The 999 Club The Porch The Pa55age The Twins Trust Talk Charity Tree Council Trees for life Uganda School Project United Worfd Schools We Are Faming Minds Vvhy Me Wild Fish Winter Comfort Woodland Heritage Woodland Trust World Land Trust Wormwood S¢rubs Pony Centre 20,000 25,000 10,000 10,000 10,000 10,000 8.000 10,000 10,000 8,000 10,000 10,000 8.000 3.000 8.000 5.000 5,000 5,000 10,000 8,000 10,000 10,000 10,000 10,000 15.000 10,000 5,000 5,000 5,000 5,000 5.OCIO 8.000 10,000 5,000 5,000 5.000 1,000 15,000 15.000 10.000 10,000 25,000 10,000 10,000 393,000 431,000 -14-
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Support costs Governance costs 2025 2024 Bank charges Trustee travel expenses Audit fees 229 853 3,900 229 853 3,900 74 785 3,627 4.982 4,982 4,486 Analysed between charitable activities 4,982 4,982 4,488 Governance costs includes paymen15 to the auditors of £3,90012024'. £3,627) for audit fees, which is all for current year fees12024.' £3,780 less £153 for an over piovision for the prior yearl. Trustees The Trust mel the incidental travel expenses for the trustees, attendance al board meetings lolalling £85312024.. £7851. 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Total The Trustees neither received not waived any remuneration during the year {2024'. £Nil). 11 Fixed asset investments Llsted Investments Totsl Cost or valuatlon Al 1 April 2024 Additions Valuation changes Disposals 11,992,090 11,992,090 13,251,468 13,191,888 136.807 196.387 113,288.8391 113,288,839) Al 31 March 2025 12,091,526 12,091,526 Carrying amount At 31 March 2025 12.091,526 12,091,526 Al 31 March 2024 11.992.090 11,992,090 -14-
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Fixed asset Investments (continued} Fixed asset Investments revalued All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds. unil trusts and open-encled investment companies are al the bid price. The basis of fair value for quoted investments is equivalent lo the market value. using the bicl price. Asset sales and purchases are recognised al the dale of trade al cost Ilhat is their transactions value). 12 Debtors 2025 2024 Amounts falling due wlthln one year- Other debtors- accrued income 30 22 13 Creditors 202S 2024 Amounts falling due within one year Accruals and deferred income 3,900 17,958
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THE NORTHWICK TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 15 Related party transactions There were no dis¢losable related party transactions during the year {2024'. none). -17-