Charlty roglstratlon number 293312 THE W G EDWARDS CHARITABLE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024
THE W G EDWARDS CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust8 Prolessor WD Sa¥e Mr WJ Mackne Charity numb•r 293312 Prlnclpal addres$ Fer00d House Femwood Road NeM¢aslle Up Tyne Tyne and ¥hr EngUqThJ NE2 1TJ Auditor Rob5( LavJler A¢¢ountants Limited House JeSmol Newcasde upon Ty Tyr* EarKI NE2 1TJ Bankers CAF Bank Limited 25 'rS Fh"Il Av¢rn King5 Hill t Mailing Kenl ME19 4JQ Sollcltorn Hay & Kilner Merchant House 30 Cloth Market Newcastle UFX)n Tyne NE1 1EE
THE W G EDWARDS CHARITABLE FOUNDATION CONTENTS Page TTUStees' rewt Independent authtor's ret Statement of fIrn¢t81 aclivth.es 10 Balance sheet 11 Notes to the finla1 stsiements 12-19
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5APRIL 2024 The trustees present they annLtal rep(xt arKI fincial statements for the year ended 5 Apnl 2024. The linancral slalemenls have teen prepared rdance Mth the accoun"n9 policies set out in note 1 to the flr¥ancKg1 slatements and c¢ynply with the charity's govemin9 documenl. the Chanties Act 2011 and "Accounts'ng and Reporting by Charils." gatement of Recommended Practice apph'c8ble lo charilies prepanng Ihw'r accounts in accordance with the Finanaab Rep)thg StsrNtsd applKaL4e In the UK aThJ RepublK ol IrelaThJ IFRS 1021 leffective 1 jUary 20191. Oblectlves and activitles Although the Trust Deed does specify any partKular nefiCIan&S. the TnBtees have ageed lo adopt tho following grant making polKy stslement In order lo relbect dosety the wishes of thè late Mr W G Eards, and have $ied a Statement of she$ lo t.5 effect"_ o assist hwth the FYOViS)n ol care fcK older t10g e$tiTrJ chantie5, vCallY capital projects bul also other Innovative schemas for trKJOiNJ care. The Trustees will not assist in the rehef ol indNidua15. It is the presenl intenty.on of the Trustees to make grants and donalbons from income.- In Addition. Ihe awns of Ihe Foundalion we'.- il lo support as many projects as posgt4e, e¥w rf this mfrw$ smaller individual grarits. lil lo donate to rèfurb1thmenlnIbl1ng pyoiects neariry completN)n rather than Ise in the plannirKJ $taye. tl lo supwrt all kinds of groups of okler FeL". iv) 10 sW)n individual nam&J ilwns of exp¢nth"lure lather Ihan ()nale mlo a Fool or Lmrestricted fund", and vl lo ensure Ihat any fundiryJ Is Fwrty spent knse SFeufic rtems spJnsor•J. Thè o'eclNe$ for the year are shaped by Ihese ams aThJ ¥pl1¢at fof grants are invited trom a vanety of sources. Llh new projects and those suped in previous years. As a matter of good practice. all potential beneliciaiies a asked lo provK1e budgelWlorecast$ for the intended woject l(yJelhef wrth a copy of their latèst rep¢rt and accounts. Benefficiaries mL¢sI established registered d)anknes that a$1 %wth the cao of c4der Individuals cannot be beneficiaries The Trustees conder th8t an older person Is generalty assumed lo be ovei 65 yeafs of age, bul they will also look al Pfq'ect5 fof over 50$. Thé TnJsls have also agreed lo restrict tefiarleS gejrapha1Iy. ie. charities 1¢h benefit oÈder pe(¥>le restdirvj withn the United .dOrn. In 2016. rt was decpJeJJ that charitses which bwefil ¢Jder peO$e rewdry in Clown DepeTh3.eS may appty. Publlc bènefft Thè Trustees are mindful of the legal requKemenl that all charities must h•4e charitatA8 wrposes whh are for the public bellefil and are satisfied that the FOundatn lu1fi15 tt)is cnterk4 by being concerned th Ihe relief of the effects ol old age In the general public in the United Kingdcmn. By offering fman(j assistance to registered charities that assist with Ihe care ol older Fe08, the Trustees are relievtrrfJ the financial bjrden on the welfare state to pay for their care and are also helping to provYe an imFyoved quality of life for th15 secloi of the community through V8riely of wqects. There is M membership ol the Foundation. rK) charge for serwces and f-one weives privat8 benefits from the Foundation. Trustees do not aclNety seek gianl-makiThJ wportunib.es and therèfore lY respond lo funding request$ preSentj to them FoLndation ts fepresented m the maJ(x grant4n4knr¥J Iru51s yearbook8 and online services suth as the D1ctory of Swal Charoe.
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 charItab a¢llvltlgs Donations In 202k2024 were gNen to a WKJe range of charrtS benefft the elderly. A Thjmbèr of charities received funding for equipment and furniture incluthj Ginock Medical AKI Society In Scouand, Sl John'5 Hospice. Lanca$leT. and Sl Barnabas House in lthsl Sussex A number of charitses receiv1 fvn(th"r¥J tr gar(kning wcpcts. allotrnents or gardening equiwnent such as Abbèyfield Society in Southampton. 1¥0 in Bn'std and cnden Care in Coventy. A rarKJe of applicalions wer8 me in connection with health and fitness proie¢t$. Bengfioaries of SLKh grants Iruded Hedthy Generalsons in London and HAOCA in Yoikshire. Charits requested funth.ng lof inTr)vatsve arts Pfcpcts TItre companies runnlr¥J Wo1 tr Ihe over 65s whlch were awarded lunding include The Bubble Theatre Company in London. Music projects which were given donations induded thos8 rnn by Dementia T(98lher Wfral. Rosebèry Centre in Scolland and Indepèndent Arts in the South Wlsl. FC410lng the numbering of the addibonal ams listed ab(Ne.' il Donations male during the year frx Charitab Plffposes anwnted to £129.3 Mth an average grant size of £1,293. In 2021-22 the average grant size was £1.647 and in 2022-2023 the average grant 5fLe was £1.45D. A totsl of 100 organisalions were SCeSSful in obtaining grants from the FouTrJation lor t[ projects The majority of unsuccessful apPIallonS were lor revenue costs, transwrt N fcrf charities ¥thich do not speafically benefit older ppIe. ill Six grant applKalKns foi refurt4shmenl projects were Sup¥ed this year. iiil Specific groups of peop have been assisted by the Foundation this year, These include those with dementia who were supported. Iof exaTnple, by a Nature COnnect)n5 programme tun by the Kingswood Trust The Forget Me W Ch(yus in Wales delivered music Sess5 In care homes. &med al people wjth demenb'a. The Afghanistan and Central Aan A8soeiah"on in Ltsndc received a ganl for ex6rcise dasses and the IMdows Empowemient Trust Manchester was given a dOnatn for a befn'ending service Charrties which 8UPWrt bknJ and visualy impairj V•re helped by the Foundation. These include Sit f Surrey which receNed a grant lo he fund equipm&rt leS and so Wawckshre Viwon Supp)rt. l All grants made were for nanw items of exen¢Jre. No donalk)ns were made into unrestricted or pooled funds. vl Each charty Is asked Icf feeLiJack on how fun(hry spent arml trKphT Pfojecls p¥ogfess. Trustees receive an onnual feedback report in regard lo prqe¢tS SUPFQrtgJ (ring the year. Trustees are keen lo supwt w(iecls which ¥Jill tenefft dder peoFAe regardless of Ihwr locatson thin thg UK. appfoximale fundiw percentage split by geographKal area is as Idlows Tr frAlowing table shows how amounts and lo¢ab"ons differ from year lo ye*.
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Achieyements and performance hical 202212023 202312024 Amount No. of Grants Amount No. of Grants London House CoLW)tses EastAnglia South East South Wesi W8les mlandS North Vvesl North Easv Yorkshire Scotland Northern Ireland Nationwidè 26.496 3.200 S.760 18.580 13,198 17 19.466 7.024 3,500 8,796 22.160 2.800 16.526 12.777 11.198 11.912 6.890 6,347 15% 5% 3% 2% 4% 14% 10% 1% 16% 13 17% 2% 13% 15 20,996 9.213 6.358 15.550 6.194 3.51)0 13 11 5% 12% 3% 5% 130.545 lo 129.396 100% 100 Induding the ¢S)n81ions made duiing the yew. this brir the total of dat$ mad8 by tre Foundation since its ieptI¢M lo £4,828.090 There has been a 011,303 dOnatnS. split as fc4lows.' 202212023 202312024 Total to date Nev4 Buildin Refvrbishment Buildin Purchases Furnilurel EqpInent Recreational Oulreachl Care Pro ITPr ecls Homeless Research 1.491,814 841,083 45,000 779.876 538,647 837.519 151.983 26.358 115.810 19,7 7,640 33.750 28.889 42,378 5,740 40 522 37.539 30.982 12.713 130,545 129,396 4,828,090 Numbpr of donatlons 11)0 1.303
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Flnanclal revlew Financial position The Foundation is lIarrt C the irKome fr(Th its irNestments and has wlkn.rrtd lo maintain the majority of ils investment in bonds. equities and cash during the year. The contsrrtjing aim of th8 Trustees to manlain rèserves al ttteir current level and lo pay grants ¢yJt of irxome and fealised surpluses. Investment pollcy and oblectlves The Inve$lmenl objective is lo protect ts real Value of CO15nd piomde a swfi&J Incijne target in excess of £120.000, The income re¢xiv&Y over the ye¥ 2023-24 was £154.157. On 5 April 2024 the Founoalbon's portfolio market Value was £3. 716.109 and on S Apn'l 2023 rt was £3.527,161. The Trustees meet ai least annually wrth the invesknenl manager to discu55 the perfomiance of investmen15 arKI to view the p10 allocation 8iYJ targets. Plan5 for futurg pertods The Trustees wll tInUe lo.. 81 adhere to the current polw slatemenl.. bl re¢(JnFse the iThlividual rights of the dder [Wsc arKI offer fin•1 aid lo wojects put Icard by registered charities that aim to imyove the lives of older tw>. These may Include buildirs projects in homes fof the &erlY or day cenlres. bul also projects focusing on mental physical health: Person safety. elder abuse, providing practical help. recreational tIvItieS elc". cl suppKrt researGh projects wll directty benefft objer people,. dl allocate as much Income as possible lo such proie¢ls. %witFthcAding a minimum $(xn lo ¢oveT amual expenses". el consider each applicab"¢)n on it8 own meit, t1 gmng preferee lo propds wtuch direclly benefft dder people rather than groups may conlain some ohler people eg. disabled. h8rd of hearing elc.. fi obtain feedback Irom Scessful applunts to e115ure that lunding Is spent on the resource frx whKh it v485 inlended and ascertain the su¢¢ess of the pro1t wherever pyJSYte as a guide lo future granlmaking". gl ensure that inveslmenls made on fv Foun¢Jaiwi'$ t¢haff afe both prudent swally responsible whilst rnaximising income potential and captal grovrth." and hl maintain reserves al the Cufrenl level. pawng yants from ncome WKI reali8ed surK4uses. StTU¢ture. goyemance and man•gew•nt The chanty is controlled by Its goverrung a dèed of trust. constitutes an unlnc0rpoted charity. The trustee5 who seryed durirg ye and to the date of signahwe of the finanoal statemt5 were". Profess VVD Savage MTWJ Mackie Ms L Pe41ing Ms SS Seymwr.SawJe IResigrd 8 July 20241 (Re$yd 6 Awl 20241 Charity constitution The W G EardS CharitaNe Foundation is constituted under a trust deed. which was executed on 28th Septembor 1985 fdlowing the death ol Wil&'am George Ethrds on 271h November 1984 and eststiShed by his will. The trust deed lays down that the Injsl fun<J. Icoelher with fftC(ne therefrom. shall be used for thè b&nefil of such eharitable purposes or adivibes as the Trusiees shall th"recl. Inibly Ihe FOundatn.5 assets were shares in Mr Edwards. propety company but these were sold In 2CQ1 and the woceet1s invested by fund managers to provide an annual income lch ¢d be used in chantae donations by the FoundatK)n. as well as provide capit81 grovrth. The FouTrJation d8 not undertake ary fuTrJrai$ng xty'vilies.
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Recrultment and 4ppolntsnonl of new tnmtees Trustees are appointed by election by the Boaiij of Trustees The dlry)erSOn is el8Cted annually The Trustees have discretion lo appoint new Tru$te¢s whenever Ihey led it approprle aThJ se may be diawn frcm family members OT professionals vnth specific krhwAed98 Ot Ihe needs of older people. Decision maklng The Trustees consider yant apphcabons quarterty and investmw)Is, wlicies. teseNes and risk rnana9ement annulY Day lo day adminisfratron. a(fvJrt¥M to the syocesr8 arn1 hwMJliThJ of app&catsMS plr io consideration by the Truslees, Is carrd out by Ihe Secret lo the Trustees. Induetlon and tralnlng of n•w trustees New Trustees are provided with a brief hislt)ry of the FouThJatpJll. a clyy ol the trust dee(l. copy Minutes, Report and Accounts lor the previous three years tLwJether 7Aith a copy of the Charrty C¢ynmission'8 Tr Eswtsal Trustee., Wial You Need to Know. Rlsk management The Trustees have examined the prinapal areas of the chanty's op8rab.ons and identified tt rnajor risks to which Ihe Foundation is exwsed The TrLFslees haye established systems lo milale these risks and review these regularly - both formally al the AGM arKI InfoTmaly during the year. The Trustees con$i¢Jer that Ihe major nsk lo the charity is toss of income from investments aThJ CL"Ve lo moThiry this closely with the ld maAgers. Statsment of trustees. rwpon$lbllltles The trustees are responsible for prepanng the Trustees. Repx)rt and the finanoal ststements aecordarxe wilh Bpplicable law and Urmled n9¢)M Accounlw StwNJards {Unrted lfj"ng(k)m Gemrally Accepted Accounting Practice). The law appluble to ch¥thes England 8fKI lAlaS requires Ihe trustees lo prepare financKql 81atements for each financial year which give a true and lair view of Ihe stale of aff&r5 of the tarity and of the wlcomity resources and application of resources ofthe charity lor that year. In Pparing these fina181 slatwnents. trustees are rewred tt).. . select suitatrA8 accountsng poticies th apKty them consistenly., - observe the methods in the Charities SORP," - make judgements and estimaies 11)at are reas(Thble and pwdènt.. - slate whether aFpWble accrAmting Standards have been foth7wed. subjecl lo any matwial departures dksclosed and explained in the financial slalemenls.. - prepare the finarKial stslements on the wing concem l)asffj urless it is Inappr.a1e lo presum? that the charrty 11 continue in Lyra1¥. The trustees are responsiNe lor keeping sl"ent acCnting recd5 that disclose wth rea%able urY al any lime the financial positr)n of the charty and enab trM lo ensure that the finarKial statements cOMY with the chat1t$ Act 2011. the Charity (Accounls aThJ Reports) Regulab.S 2008 8nd the provisons of the Irusl deed_ Th8y ale also $pSIe for safeguardiTrJ assets of the charity •KI hence for tan9 feaSeable steps for the prevention and detection of Iraud and other irrewlaribes.
THE W G EDWARDS CHARITABLE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 The tru5tees' reFrt was apwoved by the Bowd of TTUStee5. PIDfessor WD Sava Chalr ol Trustees Date: '17/it
THE W G EDWARDS CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE W G EDWARDS CHARITABLE FOUNDATION Opinion We have aLKlited the finanual statements of The W G E(trwards Chtable FoundalK)n (the 'charty'l for the year ended 5 April 2024 which compiise the statement ol finwal actilIeS. the balance sheèt ano notes lo the financial stalemenls, inclLx8ing significant acc(yJnting p(Aioes. The finanual pY)Ing framework that has beèn arplied in their prepaTation is applicabk law an(J United Kingth)m Ac¢wnling Slandwds, including Financial Reporting Standard 102 rhe Frnan¢ial Reporting Sl8rKJal appl? w I1 UK aiid Repul)IK of Ireland (Unrted Kingdom Generally Ac¢epled AccoLSnbtig Pracbc81. In our opinion, the financial statements". give a true and fwr view of the stsle of Ihe chanty's affairs as * 5 April 2024 afKI of ils inconing resrGe5 and appli¢aiion of resoijrces. frjr ihe ye thén ended", have been property wepared in aCCce wrth Unrted Gwwalty Accepted Acwits"ng Praclic8,' and have been prepared in accordatKe wth the reqreMents of the Charities Act 2011. Basls for opinion We conducted our audit in aCCordare wth InIematnaI Standards on Audrting IUKI (ISAS IUKII and appli¢atrAe law. Our respon%bilities under t1$¢ standards are further descnl)ed in the Auclrtorfs fP5ponsibMrties for the atKYit ol Ilie fin81?cial slalefflents section of w rewrt We are Ir¥Jependenl of the chanly in accordance wlh the elhicai requiremenls that ale televanl to our audit the fina1 slalements in the UK, including the FRC'S Ethical Standaid and we have lulfilled our ot[ ethul responsit¥"lilies in ¥cordance wth these requirements believe Ihal the ajdit evidence we have c+Jtained ts sulTbrient and lo provtrje a basis fof opThon. Conclustons r•latlng to golng concern In auditing the financ¢al statements, we have conduded that the trustees. use of Ihe gcing concem basi5 of accouniing in the $yeparatir of the finartial slalemenls is apprcpnate. Based on the work we have performed. we have Fdentffied mateyia VaIntIeS rel81ing lo enIS or ¢onditr'ons Ihal. Indivi(knally ¢ollNely. may o3St sgntficant (loubl on the charity's abilily lo eontv)ue as a going concefft for a penod of at a81 twefve months Ircm when the fnwiai stalaments are a"Sed for 1sSiIe. Our responsibililies and the fesFKMsitrJ"lities of the Iruslee5 Wrth respect lo g(xng concem are desued ifj the rèlevant sections of this reF>Ort. Other Information The other information compn.ses the informalK>n incIled in the annua report other than the finartial 5tatement& and our auditor's report Ihefeon. The Iruslees are responsible for clher Informabon contained wlhin the annual report Our opinion on the financial 51atements es not cover Ihe othef information and not express any form of assurance conclusw Ihefeon Our re5ponybilrty Is lo read the other inft)rma1rt and, in doing so. consider whether the other infomialion 1$ malerialty Inc(lS1enI wth the finanaal slatemenls or our kthedge obtained in the ¢OUTse of the audit. theSe appears EO be materially misstated If we haenlify such malenal inconsistencies Dr apparent material misslalements, we are rewred lo determine whether this 9ives rise lo a matefial misslatemenl in the financia statements themselves. tl, based on the work have perform&l, we ccffldude that there LS a material misstatement of ths other in1cima1, we are required lo rewrt thal fact We have nothiro to reFort In this regard. Matters on whl¢h wo are required to report by oxcgptlon We have nolhifjg lo rewrt in respect oi rhe followrrg matters in relati lo Nthich lh8 Charits (Aceounts and Reports) Regulat1¢$ 2CQ8 require us lo report to you if. in wr orAnion'. the inloTmatson given in the financrdl stslements is inconsistent material respect wilh the Injstees. report". OT Sufficient accounting records not been kept". or the financ1 ststements are Th)1 in •Jteemenl with the accounb.ng records. or W8 have r¥)1 received all Ihe and explanat¥Jns we rewre for audrt.
THE W G EDWARDS CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE W G EDWARDS CHARITABLE FOUNDATION Responsibilities of trustees As explained mofe lully In th8 slalemenl of Iruslees, respKYwtslrts. truslees are resPsIble for the preparation of the financial statemenis and for bein9 salisfieij that they give a In and fair view. atKI for such inlemal control as the Ifuslees determine is necessary lo enae ihe preparthn of financial stslements that are free from material misstslemenl. whelhef due lo fraud cw error. In preparing the ffinanci slalemenls, the tnjslees are responsible for assessing the charty's ability io continue as a wng concem. disdogng. as apl¢3b1e. mattèrs related to going ¢onc&rn and using the going coftcwn basis of accounting unless the trustees eilher Intend lo cease cyralions. or have no realistic alternative but to do so. Audltor's r•sponslbilitieg for the audit of th• flnancl•l $t¥twngnts We have been apnted as auditor under section 144 of the Charrti'es Act 2011 and rewi in aceorthnce with the Act and relevant regulations mJe or hawng effecl thereuntsr Oui objeth.ves are to obtain reasonats aSSUrae aboul whether the finanual stslements as a Who are free from material misslatemenl. whether ¢Jue lo fr•Jd N errc. aThJ to Issue an aLMJilotrs rewrt that CludeS our opinion. Reasonable assurance is a hvJh levd of assur¥rKe t&1 Is not a gu3ranlee that an aut1il conducted in accordance Ih ISAS IUKI wll abNays detecl a material misstalement it exists. MisStatement5 can anse from fraud or error and are considered malefial if. iTrJividuJly OT in the aggregate they could reasonably be expected to influence the ecor#)mic sJecisK)ns of usern taken cffl Ihe ol tsse fin81 slatemenls. The extent lo wh¢h wr pro¢&Jurt$ We ¢•pable ol detecb"rrfJ wregLAarilies. Ind1 frau¢J. ts ¢Jetsiled below. The risk of matérial nwsstalement due to ertc rx fra has bBen assess8d in conjuncb.on wilh hryw Inlamal controls may miligale any such risk. These controls are ieviewed as part of the audit by perfomiing systems walklhroughs to ensure ihey are operatirE effectivdy Analyt1 feview and subslanlive leslThJ 1$ also perfornEd on all material balance5 ar theiefore any Inslances of rK)n<ompliance SIKld be Identified or considered as insignificant In enlifying and assessing risks ol material mtsststement in resp1 of irregularits, ¢'n9 frajd. the audit engagement team.. oblamed an understanth'ng of the nature of the WKlusty and seGtc. irdudrng Ihe legal and regulatLIry framework. in whictt the chanty operates and Ihe charty compl5 wlh that legal and wulalDry framework inquired wlh managent and tb)se th¥ged p¥¢m•n¢e about Ihwr oth) idents"fication and assessment of nsks ol IrregularitS. Iludir0 any know actual. suspected or alleged Insiantss ol traud <Jis¢ussed th management and those chargeo govemance any non-compliance with laws and gulations and how fr8LKI mKJhl ¢xcur inclijding assessments ol trk)w and where Ihe finanual statements may be susceptitle lo fraud. risk of man?ment overrKle of conlroL8 was also con&dered an area of wlential misslatemenl due lo fraud. Auch't procedures perforrnèd included tests'ng of manual 1mat rIeS and other adjustments and evaluatiw Ihe business ratk)nale in relaon lo Signif1. unusual tranS'OnS and transxlms enteied Into ou151de the normal course of business. A further descriw'on of responsOilthe$ is availab on ts Finaal Rewrting Council'5 website at". https.'Il w,frc.org.ukJaudilorsrespon%bdilies This de8uiplion foms part ol ow 8udrt¢$ report. Other matters Your attention is drawn lo the f*t that the chanty has Pfepwed financial statements In accordan wilh "Accounting and Reporting by Chantie5" Statement of Recomrnended PradKe appIable to charibes pieparing thwr accounts in a¢¢ofdancè with the Firwcial Repryting Standard applicatle in the UK and Republic of ITeL8nL1 IFRS 1021" las amended) in preference lo the AccouthrKJ aThJ Rewting by Charits"es. Statement of Recommended PractLe Issued on 1 April 2005 which is referred to in the extant regulabons but has n(yw been wrthdrown. Th's has teen done li c¢<ler for the fina)oal statements lo provide a true arxy fair view in XCLYdance with CUTrent Gerwally Accepted Accounkn'ng Pracknce.
THE W G EDWARDS CHARITABLE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE W G EDWARDS CHARITABLE FOUNDATION Use of our report This report is made solely lo the chanty's trustees, as a body. in accordarte wlh part 4 of the Charitie5 IAccounl$ and Reports) Regulations 2LX)8 Our atlit work has been <ThJertaken so that we might slate lo the tharills trustees those rnatters we are required to state to them in an aLxIrtOf'S report and ft)r no other purpose To the fvuesl èxtent permitted by law. we do mt accept or assume sponS[tlY to anyone other than the chwity and tha charity's ttuslees as a W. for OUF aL5drt work, for this re¢<¥1. Ihe 0p'nic5 we have formed. Nlcholas Cunningham FCCA (Senlof Statutory Auditor) for and on b•half ot Robson Laidler Accounl•nts Llmlt Statutory Auditor FeM0d H(yJse Femwood Road Jesmmd Newcasue upon Tyne Tyne and Wear En9land NE2 1TJ Robson Laidler ACc(ntaftts ts"mrted is ehgible for app)inlment as of the chaTtty by vwtue of its eligits'lity for appoinknenl as audiior of a company ur*Jer secknn 1212 of the Companies Aet 2006.
THE W G EDWARDS CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Unre8trl¢t•d funds funds 2024 2023 Not•s In¥eslments 154.454 150.631 Ex Rai*ng IJ$ 8,563 8.623 ChaTilatrAe acb'vit 143,323 142.861 Total expenditure 151.886 151.484 Net gainslllossesl investments 182.106 (180.5421 Nel movem•nt In fund8 184.674 l181.3951 Fund balartes al 6 April 2023 3.604,559 3.785.954 Fund balances at S Aprll 2024 3.789.233 3.804.559 The statement ol fiwryal th"e5 IILKIeS al gains losses reccwised in the year. The statement ol financial activities irKlw18s al gains and losses racognised in Ihe year. AJI irthme aTrJ expenditure derive from continuing a1lieS. 10.
THE W G EDWARDS CHARITABLE FOUNDATION BALANCE SHEEr ASAT5APRIL 2024 2024 2023 Not Flxed assets Tangible assets Investments 10 11 88 3,582,820 3.736. 3.736.610 3.S62,908 Current assets Cash al bank and in hd 80.038 Credltor¥'. amounts falling due wtthin one year 12 17.415) 14,9151 Net currenl a88el8 52,823 41,651 Total assets 19s8 curr•nt Ilabllltles 3,789.233 3.604,559 Income lunds Unresth'cled lunds 3.789.233 3.604,559 3.789.233 3,604.559 //27 The financial statemen15 were aFproved by Trustees on .......... Professor WD avage Chalr of Trustses
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Charity infommtlon The W G Edwards CharrtatAe FoUftdatK an 1rated charty (tharrty rKThber.' 2933121. 1.1 Accounting convention The financial statements have been wepared in accordance wrth Ihe chty's wveming documènt, the Charitie5 Act 2011, FRS 102 "The Financial RepK)rtirMJ Standard OpIcable in the UK and Republic ot Ireland. I"FRS 102.1 and the CharrtEs SORP "Acc(yfflbng arKI Reportiw by Charilres." Statement ol Recommervjed PraclKe applKabk to tharib.es yepanng their ¥counts in %eord8nce wim the Financial Repon9 Standard applicable in the UK Reput4ie of IrdaNI IFRS 102}. leffecti¥e 1 January 20191. The charity Is a Public Benefit Ents"ty as defined by FRS 102. The chanly has taken advanta9e of FrfQ¥Bb)ns in ts SORP for charities r#)t to prepare a Stalanenl of Cash Flows The financial statements are prepared in sterfirKJ. vthich is thè rJJrr8rty of tr charity. netary amounts in these financial statements are roLmded lo the nearest £. The financial statements have been prepared under the historical c051 convention, m¢xlified lo include the fevalualion ol fixed asset investnt5 al lair valL The pnrKip81 accounting wlicies adoptéd afe sel out below. 1.2 Golng ¢on¢om Al the th'me ol approwng the finanoal statements. the Injslees have a rea$ab$? expect81ion Ihal the charity has adequate Tesources lo continue In 0rational exisience the foreseeable hjture. Thus the trlee5 continue to adopt ltte gc¥ro concem baws ol Trn9 in wepanng the financial stalemenls. 1.3 Charltable funds Unreslncled fijnds are available for use at the trustees in fijrtherance of thw"r charitable Jjeth'v88. Restn"cled fvnds 5ubJoct to Spea. cortlS by (k)nors or grantors as lo how they may be used. The purwses and uses of Ihe restr>Xed lund5 are Sel out in the notes to the financial 5talemenl8. 1.4 Incom• Income Is recognised when the chanty is legally enlilkd lo it after any perfomance coThJilKJns have been met, the amounts can be measured rdiabty. and il 15 probable Ihat Income ¥wll be received 1.6 Expgnditure Expenditure is recognised ce there ts a leg or ¢onslruclive otyallOn to transfèr econom bwefft to a third party, il 1$ probable that a Iransler of economic nefIts ¥MII be required in settsemenl. the amoLrnl of obligats'on can be measured reliabty. Expendilure is clasgfied by acbvty The costs of each tsvrty are made up ol the lolal of di1 costs and shaied costs. including swport involved in undertaking activity Direct cosls attributatrAe to a single aclimty are all¢xaled directly lo that activty Shared costs which contnbute lo more than one activity and support ¢osls which are not attritrxrtable to a single aciiwty ar8 aPpOrted tetsveen those activitS on a basi5 consistent wtth the use of resources. Deprwalion charges are allocated on the portion of the asset's use. 12-
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollelès IContlnu•dl 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subs0qU measured 81 cost or valu*'on. n8101 deprecialson and any Impaimienl losses. Depreciation is recL¥JniJed 80 as lo wrile off the or valuab'(x) of assds less th&r resUal Val ow their useful lives on the folkw"rvJ bases". CoMputS 33% cost The gain or loss ansiro on thè thsposal of an assel detefmined as the orfferen befften the Sa proceeds and the cwrying value of Its asset. and reccgnised in the statement of finarria activities. 1.7 Flxed asset investmeTrts Fixed asset investments are initially measwed at transaction p@ exduthg trans8ctson costs, and are subsequently measured at faif value at reporti.ng date. cheS in fair value are recognised in nel inwnellexpendrture) f Ihe year. T[1cb'On eosts are expensed as incurred. 1.8 Impairnlont of flxed assets Al exh retx)t"ng end date. Ihe ¢harity reviews the carrying amounts ol its iarrfJible assets lo deleTmine whether there is any inth"cab'on Ihat those assets have suffered inpaiffnent Ios5 If any such indicatk)n exists, the recoveiable amounl of Ihe asset is ests"mated m crfdef lo delemiine extelll of the impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash eqimvalenls Indude cash in ha9, deposits hekl at 11 wrth bar4(s. other shDrt-lem liquKI inVestntS wlh oro1nal malurilies of three Mth5 or 5s. bank overdrafts. Bank overdrafts are shown within borrowngs in axrenl li8.tieS 1.10 Taxatbon The d)arity is exempt frcffl tax on rt5 charitable tNi18. Incom• from Investments Unrestrictèd UnrKtrl¢ted lund$ funds 2024 2023 Inco Irom h.sted In¥eslmen Interest reCeiVae 154,157 297 150,575 56 154,454 150.631 13
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Ral$lng fund$ Unrestricted Unrestricted funds funds 2024 2023 Investm8nt managers fees 8,563 8,623 8,563 8,623 Expenditurn on chariiabl• ¢tlvltl•s Grant Maklng 2024 Grant Maklng 2023 Dlrect Costs Depreciation and impairmert Bank charges 327 14 14 58 341 Grant fundiry of activitios r•)te S) 129,396 130,545 Share of support and governance costs (see note 6) Support Governance 11,134 2,735 9,240 2.735 143.323 142,861 Analysis by fund Unrestncled lunds 143.323 142,861 Grants payable Gfanl making Grwl making 2024 2023 Grants to institutions (too grrtsl'. Furniture l Equipmenl IT ITech Outreach Recreation Refurbishment 40,522 12.713 30.982 37.539 7.640 33.7SO 5,740 42.376 28.889 19.790 129.396 130.545 14-
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Support costs allocated to actlyltles 2024 2023 Admir#slratNe expenses Admirmsliation fee8 Governanee costs 1,9C6 9.228 2.735 870 6,370 2,735 13.869 11.975 Analysed betW•on". Grant Making 13.869 11,975 Net rnovemont in funds 2024 2023 The net movement in lund8 18 stsled after (thargin(Credl1ir¥j}." Fees payable for the audit of the tharilvs fnaTrJal statements Oèpreciabon of OW tangible fixed assets 2.735 2.735 327 Trustees Nom of the trustees receNed any MLTaoft or ts8 the chanty dunng year. Taxjtlon The charty is expt from laxabon its l¥le$ becse all ts income * 8Oied ts charitable purposes, 10 Tanglble fixed assets C¢Jmput¢rs Cost At 6 April 2023 1,009 At 5 April 2024 1,009 D8proclatlon and impairnlgnt Al 6 April 2023 Deprecialicffl charged in the year 921 44 Al 5 Apnl 2024 Carrylng amount AI S1 2024 Al 5 +4pnl 2023 88 15-
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5APRIL 2024 11 Flxed asset Investments Listed Inve5tment5 C05t or valuation At 6 Apnl 2023 Valuation changes Disposals 3,562.820 182.106 18.3601 At 5Aw'l 2024 3,736.566 Carrylng anx)unt Al 05 April 2024 3,736.566 At 05ri12023 3,562.820 12 Credltors: amounts falllng dug wlthln yoar 2024 2023 Accruals deferred inccxne 7.415 4,915 13 Related party transactions Transaction5 With related partles DurirKJ the ye¥ the thanty entered into f1(1rttj trSl]G$ wth related parties". During the year fees toialing £9.228 12023.. £8.3701 were paid lo Mrs T Mathie for adminis1ratn services provided. MTS Mackie 15 the %wfe of Mr WJ Mackie a Trustee of ts Chanty The Tnjslees are aware of Ihe necessary guidance on transactions wrth relateij partEs. 14 UnrtstrSetèd lunds Thè unreslricled futs of the charty rprise th8 unexpded balances of donation5 arKI grants which are nol subjèct io specific conditions by donrys and grantors as lo how ihey may be used. These indude designated funds which have been sel aside out ol unresln'cled funds by the trustees for specific purpo$e$. At 6 Aprll 2023 Incomlng Resources oxpènded Galn$ and losses At S Aprll 2024 Gelleral funds 3,604.559 154.454 (151.8861 182.1C6 3.789,233 16-
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 14 Unre8trlct•d fundg (Continued) Prevlous year: At 6 Aprll 2022 Incoming resourc Resources •Xnded Gains and losses At 6 Aprll 2023 Gener81 ndS 3.785,954 150,631 1151.4841 1180,5421 3,604,S59 17.
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 1 S Grants payable Th8 follo%Mng grants we pa during Ihe finanaal ye AbbeyrId SOcty Alghanislanl Central Asian Assoc Alrican Women 1rnp UK Age Concern Barn8tap Age COrr MRR Age UK Baxley A9e UK Cheshire Age UK Weslminisler Alive Alzheimerfs Supp)rt Arts Depot Asthma Relief 8aillieslon CoMMlIY Care Bènwell Christn Prqecl Brendon Care Car Support UK Catholic Blind Inslitule CDCC Central Baptist cl¢h Certitude Compass Disability Coundon Car Cry51al Palace CommLnty Trust Cyclin9 WithoutAge Dementia Adventure Dementia Together Derry Well Women Elder Voice Elizabeth Hc*Jse Farfeigh Howce Faversham A$starte Centre Forget me not crl&S Good Moming Down Greenctk Medical Souely Guidepost Trust Gwennie's Getaways HADCA Healthy Generat Independent Arts Jackson's LaneArts Centre Kingswood Tru51 Landkey Millenni Trust Lewis - Manning Hostxce Li5butn Downlobyn Centre Listening Books LOROS Memories are Gold Men Behaving Dadly Moorland Star Muscular L)ystrophy Sw)wrt Centre £1.2¢JO £1.645 £1.000 £1.51XI £1,100 £1.500 £1.680 £2.150 £1.1 £1.8 £950 £1,012 £1,080 £850 £1.750 £1,500 £1.350 £1,660 £5 £1,21 £1,036 £1,1CAJ £300 £1,392 £1.150 £750 £1.000 £910 £i.000 £600 £1.800 £2.000 £920 £1.$00 £1.000 £1.(XlO £1.1YXI £1.600 £1,C0 £755 £1.450 £1,698 £1,150 £1,500 £1,500 £1,000 £1,150 £1,0 £1,SC(J 18-
THE W G EDWARDS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 16 Grants payable- contlnued Neuromusculai Cent New Hwghts Wren Fam CommLW)ty Prq Northumberland Community Eterwi'se OPAL Sèrvices Orpingiffi vilge Hall Trust Parkinson's Centre Therapy Peet4es Old Parish Church Prama Lile QME Cwe Reach Family Projeci Rennie Grove Peace HO$Ce Role On Rosebery Centre Rowan's Hospice Chanty Sandhurst Day Cenire Sanell Afn"¢an wc¥nen Ass(Kiali Sight lor Surrey Small Acts ol Kindness South Kent Mind St Barnabas HoLÈse Sl. Andrews HosCe St. Columba'$ Hospte Cwe Sl. John's Hospice St. Margaret'5 Hosp St. Peter's Church Project Strathfoyle Women's Group Thanet Trust The Bublje Thre8t Co. The Charbtte Siraker Pmiecl The Community HL*) The Drop-in Befeavemenl Cwtre The Ethel Trust The Green Team The New Vic Theatre The Rural Coffee Caravan The TO11 Building Trust The Vine Cenlre Timebank Swth West Top Church TTainirvJ TORC Trinity Methodist Church Wakèfiéld Sc£iety lor Deaf Pe(ylo Wallham Forest Blind Assoc. Wdllham Foiesl Race Equality drwckshire Vision Support Wesledand5 Assoc. dows Emp(Iwemienl Trust Ison Ménh)rial Church rk Avenue FLwdati YMCA Total Grants £1.392 £1.] £1.200 £845 £1.500 £1.250 £2.000 £1,0 £1.OC £2.0 £1.074 £1.O¢XJ £10 £1.040 £1.29) £1.645 £1.586 £1.600 £260 £1.000 £3.000 £1.000 £1,116 £1.91JO £1.600 £6[3 £1.51KI £2.0 £1.2LN) £1.764 £1.500 £1.000 £1.2J8 £2.000 £1.500 £1.190 £1.230 £1.590 £700 £1.200 £1,000 £2,000 £1.000 £1,000 £1,500 £1,320 £2,124 £1.OlJO £982 £1.430 £129.396 19