R•gisl•r6d Chartty No: 289605 THE WILUAM WALTON TRUST Annual Report and Unaudlted Flnanclal Statements For the year ended 31 December 2024 tc accounts. tax . legal financial planning
THE WILUAM WALTON TRUST Contents Reports Legal administrative information Report of the trustees Independent examiner's report A¢¢ounts ststement of financial activffies ststement of financial position Notes to thè accounts 9-17
THE WILLIAM WALTON TRUST Reference and administrative inforniation Patron HM King Charles111 Trustees John F da Luz Camacho Alessandra Vincigu8rra Caroline Howard Olivia Hall Registered Office 8g Judd Street London WC1H 9NE Charity Registration Number 289605 Independent Examiner Philip Clark TC Group 6th Floor King's House 9-10 Haymarket London SW1Y 48P Bankers Charities Aid Foundation Bank Limrted 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
THE WILUAM WALTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report together with the fin8ncial statem8nts of The William Walton Trust for the year ended 310ecember 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charlty's trust deed, the Charities Act 2011 and Accounting and Reporting by Chartiies= Statement of Recommended Practic8 applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS102)' (effective 1 January 2019). Structure, governance and management The Trust is govemed by a Twst deed dated 30 May 1984 and is a registered charity, number 289605. The Trusl was established by an inillal glft from Lady Walton followlng the death of her husband, Sir William Walton in 1983. Lady Wallon died on March 21, 2010. The Trust doe8 not adively fundralse and seeks to continue Its work through cafUl stewardship of existing resources. The Trustees are appointed by the Board and serve for three years after which period, they may pul themselves forward for re-appointment. The Trust Deed does not state a limit to the number of Truslees. At the six monthly trustees, meetings the trustees agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment. reserves and risk management policies and p8rformance. The day to day administration of grants and the proSSIng and handling of applications is overse8n by the Trustees. New appointed trustees undergo an orientation session to brief them of their legal obligalions under charity law, the content of the Trust Deed, and the decision making processes, the role of th8 Administrator and recent financial perfomiance. Prior to taking up the post trustees meet the key pet8ons associated with the wnning of the Trust. Rlsk management The Trust8es have assessed the major risks to which the charity is exposed. in particular those relating to the spectfic operational areas of the charity and its financès. Tha Trustees believè that by monttoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity. they have established effective systems to mitv3ats thosé risks. Objectlves and actlvltles The objects of the Trust are twofold.. General: The Trust aims. Ihrough the music of William Walton. t)oth to encourage education projects in $¢hool$ and to develop the potential in young professional musicians at the start of Iheir careers. Speclfic.. 1. To promote and establish excellence in the perfoThning arts {music, theatre, dance) within the United Kingdom and abroad, with special reference to the music of William Walton.
THE WILLIAM WALTON TRUST REPORT OF THE TRUSTEES (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 ObJe¢tlvos and activities (¢ontinu•d) 2. To introduce the arts to the wldest posslble audience embracing all ages and abilities. 3. To aid educational projects encompassing British music particularly for speThal needs and inner city schools. where funding is restricted. 4. To develop a wide range of master classe5 covering all aspects of the arts under the guidance of leading professional artists. In certain instances these will culminate in public perfomance. The objecls are accomplished through ccpoperating with org8nisations, promoting and SF¥)nsoring MUsal events in the UK, and Master classes in It8ty, and acting as a source of infomiation., specificalty.. 1. To continue the development of the youth orchestra music festival at La Mortella held during June and July, widening its scope to include ballel and staged or semi-staged OP8ra. To this end. to forge contads with dancelopera association8 and local (mainland) festivals to develop shared Inillallves. In addlllon, to enqulre about the necessary structures and facilities for these kind of performances. 2. To explore the possibility of hosting master classes in ¢onjun¢tion with United Kingdom and American institutions andlor key organizations that could develop a long-tem agreement wtth us. 3. To continue to improve the Trust's webstte, especially the news and events secllons, developing a strategy to ¢onslantly update the available infomiation and make il into a worldwide $Oue for Walton scholars. 4. To develop projects in s8lected areas of the wodd where music is cultivated not only as an artistic expression bul also as a mean to improve the quality of life and the social awarer)ess of young people in marginal or troubled areas. S. To continue lo host and organise chamber music concerts at La Mortella invofving students from vari)us schools of music throughout the world. 6. To improve the facilitie5 of the Archive to make them meet demands from researchers and scholars and explore possible dev6lopm8nt of tha facility. The objectives for the year 2024 were: To reopen William WaKon Mustc Rrx)m lo the publSc. organizlng a dlsplay of Archlve material and of Lady Walton's obj'ects. To start working on the merger been the William Watton Trust and the William Walton La Mortella trust. To continue the organization of concerts and music festivals at La Mortella. In reviewing our activities for the year and our plans for the future, we have had regard to the Charity Commission's general guidance on publi¢ benefft. Grant maklng pollcy Grants are made to those bodies who request support in putting on productions of William Walton's musi¢. Such productions are supported and monitored by the Trustees. Those who benefit from the charity's work include young professional and amateur musicians, young composers, aLKliences who attend concerts supported by thè Trust and stud6nts who study the life and work of William Wallon.
THE WILUAM WALTON TRUST REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trust seeks lo ¢reate partnerships with other organisations that will develop opwrtunities for its beneficiarie8. These projects may vary in content and duration. The Trust works hard to embrace all realist or4)ortunities. The Trusl aims to develop a wide range of master classes covering all aspects of the arts under the guidance of leading professional artists. The Trust wll Continue to develop La Mortella as a performing arts and study centre for gifted young musicians under the guidan of the world'8 leading teachers. Achiovomonts and porforman¢• The garden La Mortella In Ischla opened to the public on March 30th with the inauguration, within the Museum, of Sir William Walton's recently restored 'music room,. which houses part of the Walton archive. The dlsplay cases were organlzed to dlsplay some of the archlve's significant Tlems: photographs, manuscripts, and memorabilia. Also in the musi¢ room. we opened the pemianent exhibition dedicated to Lady Wallon, featuring her evening gowns, accessories, jewellery designed by Andrew Logan, and her Ladyship's famous hat collectlon, many of whh were designed by Philip Treacy, the Royal Family's favourite milliner. In 2024, La Mortella hosted 52 concerts. including a notable opening by pianist Giulio Biddau, paying homage to William Walton. The season featured diverse chamber music. including rare -piano perfornances by intemational duos, and solo piano Goncerts from top Italian and intemational academies, highlighling young talents such as Pero Lin, Francesco Navelli, and Magdalena Ho. Ensembles like Quartetto Acero and Trio Hemies perforned alongside soloists like cellist Paolo Tedesco. The Greek Theatre concerts showcased local bands like Ischia's Aurora Band. and prestigious orchestras including the Alfredo Casella Conservatory, Cambridge University Jazz Orchestra. and the Youth Orchestra of Puglia, with notable perfomiances of Strauss and Brahms. The fall season opened with Spanish violinist Jacobo Christensen and British pianist Kyle Hulchings, Continuing La Mort8118's tradition of premier classi¢al and contemporary perfomiances. Through a serSes of meetings, email exchanges. and telephone calls, the Trustees consistentty evaluated the potential merger ol the William W8llon Trusl with the William Walton and L8 Mortella Trusl (WWLMT). This ongolng dellberatlon was prompted by the Identical composition of the goveming bodies and the substantial alignment of their respective missions, values, objectives, and public reputations. As this discussion had been under continuous review for several years, the WWLMT formally retained legal consuttanls al the end of 2023. These consultants were tasked with providing fornal advice on the compatibility of the Gharilable objects befv4een the kn entities and recommending the necessary steps lo proceed. Following th8s8 initial considerations, a ¢omprehensNe due diligence exercise was undertaken. This detailed investigation subsequently detemined that the proposed merger is in the organization's b6St int6r&sts. Consequently, it was decided that a formal appllcation be submitted to the Charity Commission se8king a Section 105 consent. This authorization is necessary to pemitt the to transfer its assets and the WWLMT to grant an indemnity to Ihe outgoing wwr trustees within the asset transfer agreement. Given that the boards o* both Ihe WWT and WWLMT consist of the same individuals, the Section 105 consent is required lo authorize the resulting ¢onflicts of interest inherent in the transaction. Section 105 consent Was granted on 24 July 2024.
THE WILLL4MWALTOM fRUST RepoKf OF THE TRUSTEES I¢ONTlWa)) y¢ £28,444 12023: £72,351) irJdObd. frfyY¢ lfan V4•lion & i £nli12tr23.. ty).CWI ar•J In¥eAtrn¥rt vKcme 01£28 162 (2023. £21.IXI) g I11£3,2I8.IQ1(2023,. £3,193.484).Th• TrUe1ml gwJkB Th• otrdi¥o l• kn maxmlWfumty In k d•kgtylW. polbw b lo IMw•fflrwdalr••our to kfvl•yth lo bèmJ• fft In• with filure • PL1 tr 2025 To fjwLz• of tho Kllrffj Tnwl fhh th• bMIkn? W•kn wrtl 14 114lell4 Tn Jthn F da Luz Camthi Mnclguorrn C&folm John F O• c0¢) Apprnv•d ty th• TnMI••ts Oh
THE WILUAM WALTON TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM WALTON TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 I report lo the trustees on my examination of the aUnts of The William Walton Trust (the TNstl for the year ended 31 December 2024. Rosponslblllllos and basls of report As the charity trustses of the Trusl you are responsible for the preparation of the accounts in accordance with Ihe requlrements of the Charities Act 2011 (Ihe Act,). I report in respect of my examination of the Trusfs accounts carried out under s.145 of the 2011 Act and in carrying oul my examinalion I have followed 811 the applicable Directions given by the Charty Commission und8r s.145{5)Ib) of the Act. Indendent examlneVs ststement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material r8SP8Ct.' {1) a¢utIng records were not kept in respect of the Trust as required by section 130 of Ihe Act. or {2) the accounts do not acrd wilh those records" or {3) Ihe accounts do nol compty wlth the applicable requirements concerning the form and content of acLounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view which is not a matter considered as part of an independent examination. I have no concems and have Gome across no olher matters in connection with the examination to which attention should b8 drawn in this report in order to enable a proper understanding of the accounts to be reached. Ph Ip Clark FCCA 6th Floor King's House 9-10 HayTharkel London SW1Y 4BP
THE WILLIAM WALTON TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unr•strlcted Funds 2023 Unrestrlcted Funds Notes Income and endowrnonts from: Donations and legacies Inveslments Other 150 26,162 132 50,000 21.120 1.231 Total income and endowmonts 26,444 72,351 ndlture on: Raising funds Charitable activities {9.032) (50.387) (9,000) (69,047) Total oxpenditure 159.419) 178,047) Galns and lossos on Invoslmenls: Unreallsed galnsl{lossesl on revaluation of Investments Realised gains on sa18 of investments 31,921 25,679 18,396 23,461 Nèt galnsl(lossès) on Investments 57.600 41.857 Not in¢om?Il•xpgnditure) and Nol movgmenl In funds 24,625 36,161 Reconclllatlon of funds: Balances brought forward At 1 January 2024 3,193,484 3,157,323 BalanG95 carried forward At 31 December 2024 3,218.109 3,193,484 l income and expenditure relate to th8 general fund. which is unrestricted. The statement of financial aclivities includes all gains and losses recognised in the year.
Y•lLLIAM WALTON TRUST STATEIIENT OF FIKANCL4L POTKIN AS Af3f DECEIIBER 2024 10 2.1CIl.ICV) 1.076.045 2.142.858 1.OD3.&29 IrvesDnttts 3.184,145 8.146.e87 Debll>T8 wllhln )•r 12 43.oJg Crndilov•'. Arrtwnt• tsllw du• thln an• yw 13 10,7J2> (9,732) 46,797 Toial •8ut• bo# thwMnlll•blllll¥ 3.?18.1CW4 3,1•3,4B4 F4brt&" rn••p••• Unreglrtho 3.218.101 3,193.414 Tts $nts w•r• •r•YO¥ by tha 1SOL¢*Jor 2ts2S wgd on Ihw l>eh•Y d•Lu Cthia¢ho
THE WILLIAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounllng pollcles Charity Infonnatlon The William Walton Trust is a Charity registered in England and Wales. The reglstered address is 89 Judd Street London WC1 H 9NE. Accountlng convontlon The accounts have been prepared In accordance with the Charity's trust deed. the Charities Act 2011 and 'Ac¢ounting and Reporting by Ch8rilies: Statement of Recommended Practice applicable to charities preparlng thelr accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of IreLgnd (FRS102)" (8ffective 1 January 20191. The accounts are prepared in steding, which is the functional Gurrency of the Charlty. Monetary amounts in these financial statements are rounded to the néarest £. The accounts have been prepared under the historical cost convention. The principal aco)unting policies adopt8d are set out below. Golng concèm At the time of approving the accounts. the Trustees have a re8sonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going ¢oncem basis of accounting in preparing the accounts. Charltable funds Unrestricted funds are available for use at the dISctIOn of the Trustees in furthèrancè of their charitable objectives unless the funds have been designated for othèr purposes. Incom? Incomlng resources are recognised in the period in which the charty is entitled to receipt and Ihe amounl can be measured with reasonable certainty. Wtlh the exception of voluntsry income arising from donations. all income is credited to the statemenl of financial activities on an acGrual$ basis. Donations are credited to the Statement of financial aotivities in the perfod In whlch they are received. Expenditure Expenditure is included In the ststement of financlal actlvltles when Snujrred and includes attributable VAT which cannol be recovered.
THE WILUAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Resources expendwj mprISe the followlng: a. Charitable activities Include grant Payments, which are Included In the statemenl of rinancial aclivities when approved and when the inlende¢J wipient has either CeIVed the funds or been informed of the decision to make the grant and has salisfied all related conditions. Grants where the beneficiary has not been infomied or has to meet certain conditions before the grant is released are not 8ccrued for but are noted 88 financial commitments in the notes to the accounts. b. Support costs relate to amounts paid to those involved in the office and administration of the tharty. Governance costs relate to accountancy f86s and other 8xp8nsès incurréd in the management of the charity's assets, organisational procedures and the necessary legal procedure5 for compliance with statutory requirements. Cash flow The accounts do not include a cash flow statement because the charity, as 8 small réporting entty, is exempt from the requirement to prepar8 such a statement under Financial Reporting Standard 1 "Cash Ilow statements.. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimatBd residual value of each asset over its expected useful life, as follows- Land and buildings- 2% straight line The trustees consider that no depreciation 18 charged on the land as it has an unlimited life. Flxed asset Investments Investments are ststed at market V81ue. The ststement of financial activities include the net gains and losses arising on revaluation and disposals throughout the year. Reallsed galns and lossos All gains and losses are tsken to the statement of financial 8Ctivilles as they 8rise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value lor value at purchase date rf later). Unrealised gain5 and Ioss8s are calculated as the differenGe belween the rnatket value at the year end and opening market value lor value at purchase date rf later}. Foreign curr•ncy translation Monetary assets and liabililies denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All dIfferereS are taken to the profrt and loss account. 10
THE WILUAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Impairrnenl of flxgd assets At each reporting end date, the Gharity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient los$ (rf any). Recoverable amount is the higher of falr value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted lo their presenl value using 8 pre- tax discount rate that reflects current market assessments of the time value of money and the risks specrfic to the asset for which the estlmales offthure cash flows have not been adjusted. If the rverable amount of an asset is estimated to be less than its carrying amounl. the carying amount of the asset is reduced to its recoverdble amount. An impairment loss Is recognised immediately as incomel(expenditure) for the year. unless the relevant asset is carried at a revalued amount. in which case the impairment loss is treated as a revaluation decrease. Recognised impairmenl kjsses are reversed rf, and only rf, the reasons for the impairment loss have ceased to apply. Where an impaimient loss subsequently reverses. the carying amount of the asset Is Increased to the revised estimate of its recoverable amount. bul so Ihat the increased carying aTTh)unt does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impaimient loss is recognised immediately, unless the relevant 8ss8t is carried in al a revalued amount, in which case the reversal of the impaimient loss is treated as a revaluation increase. Cash and cash equivalents. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- lemi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdr8ft8 are shown within borrowings in current liabilities. Flnan¢lal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments.. Financial instrumenls are recognised in the Statement of Financial Position when the charity becomès part to the ¢ontra¢tual provisions of th8 instrument. Financial assets and liabilities are offset, wilh the net amounts presented in the financial statements, when there is a legally enforceable right to set off th8 recognised amounts and Ihere is an intention to settle on a net basis or to reallse the asset and settle the liabilty slmultaneously. Basic flnanclal assets Basic financial assets, which include d8btors and cash and bank balan¢es, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslitutes financial transaction, where the transaction is measured at the preserrt value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable withln one year are not amortised. 11
THE WILLIAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ba$1¢ financial liabilities Bas ffinancial liabilities. including creditors and bank loans are inttially recognised at transaction price unless the arrangemerbt constitutes a financing Iransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of inlerest. Financial liabilities classified as payable within one year are not amortised. Debt instrument5 are subsequently carried at amortised cost, using thè eff8ctive interest rate method. Trade creditors are ObligaOn lo pay for goods or serve$ that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are classified as CUent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognis8d initially at transaction price and subsequendy measured at amortised cosl using the effective interest method. Derecognlllon of financlal Ilabllltles Flnanclal li8bilrties are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 12
THE WILLIAM WALTON TRUST NOTES TO THE FINANCIAL STATEMEFrrs {CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2024 2. Donations and logaci 2024 2023 Donations 150 50.000 150 50,000 In 2004, the charity received the first distribuiion from the Will Trust ofthe bte Dr Jean Shanks, which the Irustees choose to take in the form of cash and this amounted to £653,500. A second interim distribution was made 8vailable on 15 Decemtw 2004 to the value of £1,700,000, consisting of shares with a market value of £670,707 and £1,029,293 of cash. The trust88s have invested these funds to generate an ongoing in¢ome to help fvrKI the activities of the charity. A further distribution of £800.000 was made in April 2006. Further di8tn'butb)ns were made in February 2008, February 2Crf)9, February 2010. and October 2010. A final distribution was receNed in June 2021 of £14,050 from the 8slate of Dr Jean Shanks. In January 2009, the charity received the first distribution from the John M Eargle 2003 LNing Trust of $50,000. A second partial distribution of $200,000 was made available in December 2009. A further distribution Was made in March 2011 a1 a final distribution in October 2011. The trustees continue to invest these funds to gener8te an ongolng Income to help fund the activities of the charity. During the year, a donation was made from Wlliam Walton & La Mortella Trust of £nS1 (2023- £50.000). An anonymous donation of £150 was made during the year {2023- £nil). 13
THE WILLIAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 3. InGomo from Investments 2024 2023 Interest receivable Dividends Charities Property Fund distribution8 1,865 21,892 2,405 1.860 15.993 3.267 26,162 21,120 4. Other Incom• 2024 2023 Royalty inwme 132 1,231 5. Ralslng funds 2024 2023 Investment management costs 9,032 6. Charitable activitiés 2024 2023 Grants (see note 7) Support costs (see note 8) 5,750 63.297 50,387 50,387 69,047 7. Grants 2024 2023 Grants to institutions Grants to Indlviduals 3,g87 1.763 5.750 8. Support costs 2024 2023 Sundry Accountancy fees Miscellaneous expenses Exchange Igainyloss Charity repayment clalm Depreciation 586 9,540 4,927 576 603 9,152 7,976 {45) 10,853 34,758 34.758 50,387 63.297 14
THE WILLIAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 9. Taxation The William Walton Twst is a registered charity and Iherefore, is not liable to income tsx or corporation tax on income or gains derived from its charitable activities. as they fall within t various exemptions available to regist6red charrties. 10. Tangible fix•d assets Land at Greek Theatre & 16chla remedlal work Land and building5 Totsl Cost at 1 January 2024 & 31 Dec&mber 2024 717,800 1,737,880 2,455.680 Dopreclatlon At 1 January 2024 Depre¢ialion charge In the year 312.822 34.758 312,822 34,758 At 31 December 2024 347,580 347,580 Net book value At 31 December 2024 717.800 1,390,300 2,108,100 At 31 December 2023 717,800 1,425,058 2,142,858 15
THE WILUAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11. FIX asset investments 2024 2023 Llslod Investment and cash held for re-investment Llsled Investments Market value at 1 January 2024 Additions al cost Disposal Net unrealised investrnent gainl(lossesl 957,747 194,054 (155,5951 31,921 876,010 277,754 {214,4121 18,395 Market value at 31 December 2024 1,028,127 957,747 Cash held by investmenl managers for re-investrnent 47,918 46.082 1,076,045 1,003.829 Cost of Ilsted investment at 31 December 2024 959,971 919,676 All listed investments were dealt on recognised stock exchanges. Listed investments held at 31 DeGernber 2024 comprised the following.. 2024 2023 UK equities Overs8a8 equities Fixed interest Unit trusts Cash for re-investrnenl 207.921 435,911 333,685 50,610 47,918 255,999 304,146 347,267 50,335 46,082 1.076,045 1.003.829 11 Debtors 2024 2023 Duo wlthln on• yoar Accrued inveslmenl income 607 1.403 607 1.403 16
THE WILUAM WALTON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13. Credltors: amounts falling due wilhin one yoar 2024 2023 Accruals- accountancy fee5 9.732 9.732 Truslo•s' romun•ration •xp•nsos and arrangom¢nts No trustees were reimbursed for expenses during thg year (2023.. £nil). No remuneration was received by any of the twstses {2023'. £nil). No trustee had any beneficial interest in any contract with the Charity during the year. 15. Related party disclosures The fourtrustees are also trustees of William Walton & La Mortella Trust (registered chartty number.. 11152631. During the year, the charity received donations tolalling £nil 12023: £50,000} from William Walton & La Mortella Trust. 16. Events after the rèporting datè At a meeting of the Trustees held on 21 March 2025, the proposed merger of The William Walton Trust and William Walton and La Mortella Trust was approved. The Agreem8nt for the tr8nsfer of the activities and assets of The William Walton Trust to William Wallon and La Mortella Trust was also approved on the same date. The William Walton Trust has ceased all activities on 21 March 2025 and will be wound up In due course. The Trustees are still finalising the merger and the proposed date for Completion of the Merger is on or around December 2025. 17