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 transa￿lOn 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

Olnw
¥JE
u>B

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-