Charity registration number 307319 WILLIAM PRICE CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 WILLIAM PRICE CHARITABLE TRUST CONTENTS Page Trustees, report Annex A- References and administrative detsi15 01 the charity Annex B- Grants made Independent 8xaminels report Statement of financial activrties 10 Balance sheel 11 Notes lo the financial slalemenls 12-18 The Trust¢¢s present the annual reEx)rt together with the financial slat¢ments and auditors. report of the clwity for the year ended 31 Mar¢h 2025 B•e nd of Ihe Ch* William Price. a timber merchant of drew up a will ID 1721 which. after bis dea￿ fouDded a blue coat 8¢1K￿l in his town h(M￿. Price's charity forn)ed to swrt tbe school whi¢h went through wariow phase5, including relocatio￿ before being closed in 1984. The Charity was refornied in 1989 as a grant making educational trust and in 1994 the sclM)ol site in Fayeham was sold to provide the pernianeni endov4Thent of the new charity. In 2(thS. the pernianent endowment Wds further enhanced when the pro¢e¢ds of sak of a fornjer Elementary SchooL also in Farebam. were transferred to the charity to adMIn￿er. Ob ect of the CbA The object of the Tn￿ is the pmotion of Christian education of persons under the age of 25 years who live in the area of benefiL defined as tbe three ecclesiastical parishes of St Peter & St Paul, Holy Trinity with St Columba and St Jolm the EvaDgclisL all of Far¢hallL These three pansba8 bave the same area as the ori8inal Fareham town Fwish, (k) rM)t cover the wlK•le area of the Fareham Borough. tnic re and rnan The GoverniD8 Docum¢nl of th¢ William Price Charitable TnL8t is the 1993 Charity ConJmi$sion Scheme wbich app)ints the William Price Tn￿ Company as its tnistee. Other than assets held in trust, the TNst Company h(Ads D) and with no financial tra￿￿tionS in its own righl its xcowits are dornwit. Reference and thinistrntive dctails of thc Company members who ar¢ also the cbarity tr￿Stee$. and their PTofessionaJ 2¢fv48ers art shown at Annex A, The Company's Articles of Association register 19 Company members. of whom three are tncumbents of the Far¢ham town parishe8. I1￿e¢ aTe nominaled by those parish councils and four others are nominated by appoiDtiti8 bodies - the Bishop of Portsmouth ( l). Farebam Borough Council (2). and Hampshire Counry Council (l ). A furtlKr nine members are c(W and tbese as far as placticable, through reside￿¢. employment or otherwise have wial k￿>wkdge of the area or are, or have twheys ID that are& Potential membefs are invited by Trustees to submit A curriculum vitac for consideration by them. If found aLYeptsblc. they are then iDVited by the Clerk to attend the first General M¢¢ting of th¢ Trust. Before ait¢ndin8 this first meeting. they are required to sign and declare their willingn¢ss to act as a charity trustee and to act in the In￿( of the Governing Document. On appoinlment members are sent full infOnn￿ on th¢ clwity and given copies of th¢ Governing D￿ument and Memorandum & Articks orAssoci￿10 Mao Day.t041ay management is delegated to the Company Director and Company Secretary, who are Chairn)an and cle￿ respethively of the Charitable TnLsL The members of the Company (the Charity Trustees) have ￿tablished three committees to advise separatety on policy. finance and grants and of these. the Finance and Grknts comnuttees report every six months to a General Meeting of the Company. The COmw￿lti0Q of the ¢ommittees is sl)own at Annex A. The Chairrnan of the Trust is elected at the Annual GeDeral Meeting of the Tn￿t Company by majority of th¢ Tntst￿ prcsenL Similarly. thc chair of each of th¢ committees is elected at the first mcetillg ftlllowing the AGM by a majority of the conllnittee member5 thue presenL The rcDiuaeration of the Clerk is de£idcd by the Finance C￿'ed Total Retur Total RetsrB A A total return approach to invesm)ents w&8 adopted from l 8t April 2(K12 with a decla￿1 pernianent endowment of £3.113,126, in¢T¢asing to £4,638,226 with thc transfer of the FaTeham Educational Trust funds. Due to the re¢oupment policy. the permanent endowment was increased to £4,725.126 in 2016 and will incre&se annually by £29,IXX) &s alM)i"e. The value of the Pemwient Endowment &8 of the 31. March 2025 was fA.986.125. Any sum ID the C•PAtsI fi￿d over Wal AS being treated unapplied totsl return on iDvestmats and the trustees are rxrnlitt￿ to &ide knw mucb of tbis is trallSferr￿ to the income fund for use in mccting the objects of the clwity. The In￿te¢S rernain aware that the amount transferr￿ must be ¢ompatible with the requiremeni io be even handed in their treatment of present and futiire ben¢ficiaries and to meet the R￿0upMent Policy as noted above. The amount traDsfened to the Income or Genual Fu￿1 ID the year to meet grants w&8 £211.5(Kl. Reserves Po The trustees are also aware that if the value of the capits] fund should fall below the declared value of thc pCrnw￿t endowmcnt no transfffs to the income fund will b¢ pKnnittcd until thc situation improves. The siluation with the stock market has shown that such a fall in value could occur, hopefully only on a temporary basi& a￿1 that in this eve￿ a reserve ID the Inwme Fund would be established a Reserves Policy to pern)it tsansfer of sutTi¢ient Unallocated Relurn to the Incom¢ Fund to build up to one yeafs inc4)me in reserve ￿ the end of the finaDciAI year. The policy has been revicwcd during th¢ y¢ar and will be maintain¢d for as long as is considered De¢￿. Wknd Following the closure of Wykebam Howe Scbool aod the (tisposal of its its Tn￿teeS decided that the surplus funds {£156.789.60) slM)uld be given to this charity kn &8SiSt in fimhering its aims. The funds bave been invested in a separat¢ accouni as r¢quest¢d by the liquidators. An in￿lM reconllnothon to invest 98Yo of the Wykelmn Hous¢ casb made and fimd pur¢h&qes completed in June 2018. The objective was to provide a 3V• annual inLX)me yield to fimd a butyary and grow the eAPital over the longer terni. The p￿rollO md th¢ brief and cth is ivailable to distribute. As of the 31" Marrh 2025 the avtiilabk C￿ w&% £27.827. nated In the short time that the Fareham Educational Tn￿t was in exist¢n¢e there were four establi81rnents named as beneficiaries of that charity, Fareham College and three schools, althougb Done were due to rec¢ive any benefit until tk Wiekham Road school site had been sold and the proceeth investe(L These four establishments are also beneficiaries of tbis cbarity aDd &s s￿h h•ve received many grants to date. However Dow that the c1wit1￿ Iwve eDsure that the ¢stablisbm¢nts would Dot be at a disadvantsge compared with two separnt¢ charities. thc trustee8 have a￿eed to desi8uate part of the income fund speeificAlly for thenL Further funding has be￿ desi8nated and payments from this fund have b¢¢n m8de. Conelu$lon. Overall the William Price Cbarithble Tnw is in &8 8￿1 a sh4Je a8 the cwrent M￿¢t Conditions allow. The capital from the sales of the fvo scknl site8 is invested in a divetsity of assets and in the longer tenn this is expeclcd to provide the growth ne¢e&sary for the charity to survive into the foreseeable future. as well as seekin8 to mainlain grants to current beneficiaries. This income is being used to a88iSt the education of the you08 wbo live in the Fareham ￿Wll pari8lRs. close to the original wishes of the benefxtor. William Price. Mr Derek Marlow (CkalrnLqn) WILLIAM PRICE CHARITABLE TRUST Annex A - Reference and Administrative Details of the Charity Charity Name Registered No. Registered office William Price Charitable Trust 307319 8 Earl Godwin Close Fareham Hampshire P016 ODW Trustse Registered No. Registered office illiam Price Trust Company 2775695 8 Eart Godwin Close Fareham Hampshire P016 ODW Goveming Document Charity Commission Scheme of 31 De￿rnber 1993 (Amended 1910111999 and 2411112005) Charity Commssion Orders Investment Manager - Total Relum Approach 14 Marth 1994 11 January 2002 Administration of the propety of Fareham Educational Trust Charty Commission Scheme of 8 August 2006 (for Charity no.3963656) Director and Chairman of the Trust Company Sec & Clerk oflhe Trust Mr D Martow Mr C Newcombe Members of the Trust Company and Charlty Trustees: Mrs Donna INing Nominee. Bishop of Portsmouth Mrs Pamela Bryant Nominee. Fareham Brough Council Mrs Tina Ellis Nominee. Fareham Brough Council Mrs Margaret Chappell Nominee. PCC St Peter & St Paul Mrs Eleanor Coutts Nominee, PCC St John the Evangelist G Mrs Lucy Docherty Nominee. PCC Holy Trinity Mr Peter Latham Nominee. Hampshire County Council G Mrs Anne Butcher c￿0p1ed Mr Phillip Reynolds Cowopted Mr Derek Marlow Ctropled Mr Tim Geoghegan C￿0P1ed Mrs Sara Heaysman c￿0p1ed Mr Neale Fray Cowopted Mr David Luckett Cfropled Mr Nick Groves c￿0p1ed Mr David Foot Cothopted Mrs Louise CILJbley Cothopted Rev Dr Sam Cullen (Appointed 2 September Ctropted 20241 Committse Member8hlp FIGIP FIGIP FIP GIP G - Grnnts Commlttee. P- Policy Committee, F = Finance Commiltee WILLIAM PRICE CHARITABLE TRUST Annex A - Reference and Administrative Details of the Charity Independent examiner Jordan Abbott Bsc ACA Carpenter Box Piper House 4 Dukes Court Bognor Road Chichesler West Sussex P019 8FX Bankers Transad 29 Clement's Lane London EC4N 7AE CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment advisors Howard Weatth Management Ltd Fareham Innovation Centre Office 18, Merlin House 4 Meteor Way Lee-On-The-Solent P013 9FU Website: wvM.pricetrust.org WILLIAM PRICE CHARITABLE TRUST Annex B - Grants Made CaL School I College Projects Supported by Grants Grants 2025 2025 2024 Orchard Lee Infant Library refurbishment & woothyork & art facilitEs Orchard Lee Hub Laptops & Library refurbishment Ranvilles Infant Bike store & playground prefects Ranvilles Junior Outdoor learning facility & music tuition Sl Francis Music therapy & oily cart performances Healhfield Fire pit cover & basket swing Wallisdean Infant Sensory garden Wallisdean Junior Replacement dimbing frame Sl Columba CofE Outdoor play equipment & Thrive practicioner Primary Academy 10 Redlands Primary Sensory room & outdoor play equipment 11 Sl Jude's Primary No applications 12 Wicor Primary Hall projector, circtsit machine. smart xreens. phonic books & greenhouse 13 8oundary Oak No applications 14 Henry Cort College MFL books. IT equipment & iPads 15 Fareham Academy Laser cutter & drama studio refurbishment 16 Cams Hill Forest school development, 3D printers, SLCN screening & musical instruments 17 Harrison Primary Outdoor play area & sensory room 18 Uplands Pnmary Outside reading faolty & forest school 19 Fareham College AppliGalion lo be fesubmitted 4.850 7.405 5.700 7.675 3.635 4,500 2,500 3,000 9.900 8,200 11.916 19,648 14,500 21,905 1,156 14.500 140,990 129,520 Churches 21 St John Evangelist Promoting Chnstian education amongst persons under the age of 25 years who live within the panshes 2.000 2.500 2,500 850 22 Holy Trinty 23 Sl Columba 24 Sl Peter & St Paul 7,850 13,847 7,210 7,096 25 Individual Assistance Grants 13,847 26 Other granls for individuals College l University fees l Bursaries (11 persons) 8,500 8,500 1 S,450 Fareham Welfare Trust 13,000 13,000 13,000 Total grants forthe financial year 184,187 172,276 WILLIAM PRICE CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLIAM PRICE CHARITABLE TRUST I report to the trustees on my examinats'on of the financial statements of William Price Charttable Trust (the Gharty} for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charrty you are responsible for the preparation of the finanaal statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the tharity's financial statements carried out under section 145 of the 2011 Act. In carryin9 out my examinalion l have followed all the applicable Directions given by the Charity Commission under section 14515>{b) of the 2011 Act. Independent examinerfs statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accountin9 and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} in preference lo the A¢¢ounling and Reporting by Chanties.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in Ihe extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Pradice effective for reporting periods beginning on or after 1 January 2015. I have completed my examinab'on. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kepl in respect of the charity as required by section 130 of the 2011 Act,. or the financial slalements do not accord with those records,. or the financial slatemenls do not comply with the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view whth is not a matter Considered as part of an independent examination. I have no concerns and have come across no other matters in connection wsth the examination to which attention should be drawn in this report in order lo enable a proper understanding of the finanual statements to be reached. Jordan Abbott BS¢ ACA Carpenter Box Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX Dated.. WILLIAM PRICE CHARITABLE TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Endo￿nent funds funds 2025 2025 Totsl Unrestricted Endowment funds funds 2024 2024 Total 2025 2024 Notes Income from: Investments 9.540 223,379 232,919 9.038 212,383 221,421 Expenditure on: Charitable 3clivrties 251,982 251,982 236.429 236,429 Net gains on investments 3.720 301,676 305.396 10.515 62,687 73,202 Net incomellexpendlturel {238.722) 525.055 286.333 (216,876) 275.070 58,194 Transfers belween funds 211.SOO (211.500) 192.000 (192.000) Net movement In funds (27.222> 313.555 286,333 (24.876) 83,070 58,194 R•conciliatlon of lunds: Fund balances al 1 April 2024 148,438 7.594,506 7.742.944 173,314 7.511,436 7,684,750 Fund balances at 31 March 2025 121,216 7,9)8.061 8.029,277 148,438 7.594,506 7.742.944 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive frorn continuing activities. 10- WILLIAM PRICE CHARITABLE TRUST BALANCE SHEET AS AT 31 AIARCH 2025 Flx•d aM•l• Investments 11 7.317,779 7.039.494 Cash at bank and in h•NI 715.048 707.000 Cr•dltorn: •mouAts f•lllng du• vAthln on• ymr 12 711.498 703.450 8.029.277 7.742.944 Th• lund• of lh• charfty Endowm•nt funds Unrestrk#ed fvnds 13 7.g)8.(ffj1 121216 7.594.506 148.438 8,Ir29277 7,742.944 fin￿1 ststements m apwo¥*d ty tr* tru8*0s ￿ .0.1 171. 1•1¥ Mr D Marltr Thist•• WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢counting policles Charity inforn)ation William Price Charitable Trust is an unincorporated charity, registered with the Charity Commission number 307319. The registered address is 8 Earl Godwin Close. Fareham, Hampshire, P016 ODW. 1.1 Accounting convention The financial statements have been prepared in ac£ordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland. ('FRS 102.) and the Charities SORP -Accounling and Reporting by Charities.. Statement of Recommended Practi￿ applicable to charities preparing their a￿￿nIS in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effedive 1 January 2019}. The charity is a Public Benefrt Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the fijnctional currency of the charity. Monetary amounts in these finanual statements are rounded to the nearesl £. The financial statements have been prepared under the historical cL)st convention. modified lo certain financial instruments at fair value. The principal accounling policies adopted are sel out below. 1.2 Golng concern Al the time of approving the financial slatemenls, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable fulure. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial stalemenls. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objeclives. Endowment funds are subject lo spe¢ifi¢ conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity 15 legally entitled lo it after any performance conditions have been mel, the amounts can be measured reliably. and il is probable that income will be received. Investment income comprises income from dividends which is recognised once the dividend has been declared and notice has been received that the dividend In￿Me is due. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer e￿nOMiC benefit lo a third party, it is probable that a transfer of economic benefits will be required in settlement. and Ihe amount of the obligalion can be measured reliably. Expendilure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking eath activity. Direct costs attnbutable lo a single activity are allocated direclly to that activity. Shared costs which contribute to more Ihan one activity and support costs which are not attributable to a single aclivity are apportioned between those aclivities on a basis consistent with the use of resources. Cenlral staff costs are allocaled on the basis of time spenl. and depreualion charges are allocated on the portion of the a55el's use. Grants payable are recognised in full once a constructive obligalion to make a payment has been created by the charity, unless the conditions attached lo the grant are such that the tnjstees retain discretion in whether to make payment. 12- WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Contlnued) 1.6 Fixed asset investrnents Fixed asset investments are initially measured at transadion price exduding Iransaction costs, and are subsequenlty measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks. other short-term liquid investments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wilhin borrowings in current liabililies. 1.8 Financial instruments 8aslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially mèasured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest meth¢)d unless the arrangement constitutes a financin9 transaclion, where the transaction is measured at the present value of the future re￿IP1S discounted at a market rate of interest. Financial assels classified as receivable wilhin one year are not amortised. Basi¢ financial liabilities Basic financial liabilities, including credilors and bank loans are initially recognised at transaction price unless the arrangement conslitutes a financing transaction, where the debt inslrument is measured al the present value of the future payments discounted al a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations lo pay for goods or servicÉs that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilrties if payment is due within one year or less. If not, they are presented as non4urrenl liabilrties. Trade creditors are recognised initially al transaction pnce and subsequentty measured at amortised Cost using the effective interest method. Derecognltlon of financial liabilitie$ Financial liabilities are dere￿gnised when the charity's contraclual obligations expire or are discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed lo terminate the employment of an employee or to provide temiination beneffts. Critical accounting estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgements. estimates and assumptions aboul the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associaled assumptions are based on historical experience and other factors that are considered to be relev2nt. Actual results may diffef from these estimates. The estimates and undedying assumptions are rewewed on an ongoing basi5. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the perii)d of the revision and future periods where the ievision affeds both current and future periods. 13- WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investh*nts Unrestricted Endowment funds funds 2025 2025 Total Unrestricted Endowment funds funds 2024 2024 Totsl 2025 2024 Income from listed investments Interest receivable 8.426 1.114 191.195 32.184 199,621 33,298 8,291 747 196,248 16,135 204.539 16.882 9,540 223.379 232.919 9,038 212,383 221,421 Expendlture on charltable actlvlties Charitable activities 2025 Charltable activitie$ 2024 Dlrect costs Grant funding of activities (see note 5) 184,187 172,276 Share of support and governance costs (see note 61 Support Governance 62,513 5,282 59,395 4,758 251.982 236,429 Analysls by fund Unrestricted funds 251.982 236,429 Grants payable Charitable activities Charitablo activlties 202S 2025 Grants payable - insts'tutions 161,840 149,730 Grants to indmduals 22,347 22,548 14- WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities 2025 2024 Staff costs Portfolio management costs Insurance Printing. postage and stationery Bank charges Governance costs 23,275 37,652 282 1.244 60 5,282 22,521 36,585 157 55 77 4,758 67.795 64,153 Analysed betwaen: Charitable activities 67,795 64,153 2025 2024 Governance costs comprise.. Independent examination fees Legal and professional Sundry 3.936 129 1,217 3.948 108 702 5.282 4,758 Trustees No trustees (or any persons connected with them) received benefits or expenses from the charity during the year. Employees The average monlhly number of employees during Ihe year was: 2025 Number 2024 Number Management Employment Costs 2025 2024 Wages and salaries 23,275 22,521 There were no employees whose annual rernuneralion was more than £60.000. 15 WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2025 Gains and losses on inveslments Unrestrlcted Endowment funds funds 2025 2025 Totsl Unrestricted Endowment funds funds 2024 2024 Total 2025 2024 Gainsl(lossesl arising on: Revaluation of investments 3,720 301.676 305.396 10,515 62,687 73.202 10 Taxation The charity is exempt from taxation on ils acliwts'es because all rts income is applied for charitable purposes. 11 Flxed asset investments Llsted Inv•stmentg Cost or valuation At 1 April 2024 Additions Valuation changes Oisposals 7,039,494 2,010,687 305,396 (2,037,798) At 31 March 2025 7,317,779 Carying amount At 31 March 2025 7,317,779 At 31 March 2024 7,039,494 12 Creditors: amounts falling due wlthln one year 2025 2024 other creditors 3,550 3,550 16- WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Endowment funds Endowment funds represent assets which must be held permanently by the charily. Income arising on the endowment funds be used in aco)rdance with the objects of the charity and is induded as unrestricted income. Any capital gains or losses arising on the assets fomi part of the fund. At 1 April 2024 Incomlng reSou￿e$ Transfers Gains and At 31 March losses 2025 Pemianent endowments 4,957,126 29.000 {3,720) 4.982,406 EX￿ndable endowments Expendable 2.637,380 223.379 (240.500) 305.396 2,925.655 7,594,506 223.379 {211.500> 301.676 7,908,061 Previous year: At 1 April 2023 Incoming rnsources TrdnsferJ Gains and At 31 March losses 2024 Pem)anent endowments 4,928,126 29,000 4,957,126 Expondablo endowments Expendable 2,583.310 212.383 (221,000) 62.687 2,637,380 7.511,436 212.383 (192.000) 62,687 7.594,506 14 Unrestri¢tod funds The unrestricted funds of the tharity comprise the unexpended balances of donations and grants which are not subject to speafic conditions by donors and grantors as lo how they may be used. These include designaled funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources expended Transfers Gains and At 31 March losses 2025 The Wkeham House Designated Fund General funds 185.645 (37.207) 9,511 29 195,156 (73,940} {251,982) 211.500 3,720 148.438 9.540 (251.982) 211.500 3.720 121,216 WILLIAM PRICE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Unrestrictsd funds (Continued) Previous year: At 1 April 2023 Incoming Resources resources expended Transfers Galns and At 31 March losses 2024 The Wkeham House Designaled Fund General funds 166.128 7,186 9.002 10.515 185,645 (37,207) (236,429> 192,000 173,314 9,038 (236,429> 192,000 10,515 148,438 I S Analysis of net assets between funds Unro8trl¢tèd Endowment funds funds 2025 2025 Total 2025 Fund balances at 31 March 2025 are represented by: Investments Current assetsllliabililies) 147,418 10.953 7,170,361 700,545 7,317,779 711,498 158.371 7,870,906 8,029,277 Unrestricted Endowment funds funds 2024 2024 Total 2024 Fund balances at 31 March 2024 are represented by: Investments Currenl assetsllliabililies> 142,807 5.631 6.896,687 697.819 7,039,494 703,450 148,438 7.594.506 7,742,944 16 Related party transactions The children of a Trustee received £0 (2024 - £1,950) in grants in 2025 in accordance with the charities objectives. The grant applications went through the usual Pro￿$$eS and were approved by the board of Trustees at arms length. There were no further disclosable related party transactions during ihe year {2024- none).