WILUAM ARTHUR RUDD MEMORIAL TRUST
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Hunters Law LLP
9 New Squar8
LincoSn's Inn
London
WC2A 3QN
LAW.PAC.4302rk1

LLIAM ARTHUR RUDD MEMORIAL TrUST
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
CONTENTS
Pago
Statement of Ihe Trustses, Responsibilities
Trustees, Report
Independent Examiner's Report
Statsment of FinanGial Activities
Balance Sheet
Notes to the Accounts
9-14

IMLLIAM ARTHUR RUDD MEMORIAL TRUST
STATEMENT OF TRUSTEES. RESPONSIBLITIES IN RESPECT OF THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees are responsible for pr8paring the Trustees. report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards. The law applicable to charilies in
England and Wales requires the trustee(sl to prepare financial statements for each financial year which
give a true and fair view of the slale of affairs of the charity and of the incoming resources 8nd 8ppliGation
of resource5 of the charity for that period. In preparing these financial statements, the Irustees are
required to-
• select suitsble accounting policies and apply them consistently.,
obseNe the methods 8nd principles of the Charitie5 SORP.,
make judgements and accounting estimates that are reasonable and prudent..
state whether applicable a￿OUntIng standards have been followe(I, subject to any departures disclose(J
and explained in the financial statements. and
prepare the financial statements on the going concem basis unles8 It is inappropriate to presume that
the charity will continue in business.
The trustees are regponsible for keeping accounting records which disclose with reasonable accuracy the
financial position of the charity and enable them to ensure that the financial statements comply wth the
Charities Act 2011. the Charity (Accounts and Reports) Regu18tions 2008 and the provisions of the trust
deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Referenco and Administrative Dots11s
Charity registration numb•r
326495
Principal addrfrss
9 New Square
Lincoln's Inn
London WC2A 3QN
Trustees
Alexandra Ahavni Sarf(is
David Hamilton Smyih
Robert George Maples
Independonl Examiners
S Rose
Dixon Wilson
22 Chancery Lane
London
WC2A 1 LS
Solicitors
Hunters Law LLP
g New Square
Lincoln's Inn
London WC2A 3QN
Bankefs
Child & Co
1 Fleet Street
London EC4Y 1BD
Investment managers
Investec Wealth & Investment
30 Gresham st￿et
London
EC2V 7QN

WILLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Structur6 Govemance and Mana
ement
Govorning documonl
The William Arthur Rudd Mgmorial Trust was created by the lale Mrs Mary Templeton Rudd, the Settlor,
by a trust d88d dated 31st December 1983 in memory of her late husband, William Arthur Rudd.
Method of appolnlment of new trustees
The power of appointing new trustees is vested in the Trustees.
Organisational structuro of tho charlty
The Trustees manage the Charity- They meet on an annual basis and liaise regularly to take all necessary
decisions jointly ￿th regard to the Charitys activities and achievement of it5 objectives. Certain day-to-day
administrative tasks are delegated to the ¢haTitys legal and investment advisers.
Voluntsors
The Charity receives no assigtsnce from volunteers.
Wlder Network
The Charity acts independently and Is not part of a wider ne￿rk.
Donatlons
The Charity is not involved In fund-raising or publicity and h88 never received donations.
Related Parties
The Charity has no subsidiaries and Is not connected with any other Foundation.
Risk policy
The Trustees have assessed the major risks to which the Charity is exposed. in particular those ￿lated to
the safeguarding of financial assets of the Charity, and are satisfied that systems are in place to mitigate
their exposure to these risks.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Ob ectives and Activities for the Public Benefit
Objocls and slgnificant activities
The Charity is a grant making charity and the trust deed provides that income is to be applied in making
such donations to charitable organisations and bodies and such other charitable applications or charitable
purposes as the Trustees in their discretion think fit. In exercising their discretion the Truslees may have
regard to wshes previously expressed by the Settlor. The Trustees normally make their choices annually.
lowards the 8nd of the financial year.
As the objects of the Charity are not linked to any specific areas of charitable activity. the Trustees receive
a large number of applicalions for donations. They review the applications received during the year at their
annual meeting and any wshes previously expressed by the Settlor and make their awards. Due to the
high number of applications received. the Trustees are unable to reply or return printed materlal supplied.
During the year under review they made donations lotalling £88.000 to registered charities in the United
Kingdom. There have been no material changes in the policies of the Charity since 31st December 2021.
Mr* Mary Rudd. vtho set up th'e charity in memory of her late husband, died on 4th January 2019 and in
her Will left her residuary estate outside Spain to the Charity.
Public Benefil Statement
The Trustees consider that the Charity's activities. as set out in its Objectives and Activities detailed
above. are for the public benefil, and confimi ihat they have complied with their duty under s1715) of the
Charities Act 2011 to have due regard to Ihe guidance on public benefit published by the Charity
Commission for England and Wales.
Achievoments and Performance
Charitable activities
During the year to 31 st December 2022 ihe Charity ￿ceiVed income from its investments of £125,439
(£29.953 in 2021), the sum of£7,010,222 from the estsle of Mrs Mary Rudd and made charilable
donations totalling £88,0001£43,000 in 2021 }. The largest donation was £24.000 and the smallest was
£2,000.
Investment Performance
The Twst has professional investment advisers who manage the Charity's investments on a discretionary
basis. subject to the regular review of the Trustees. The Trust received 8 further endowment of cash an(1
shares in specie from the estate of the Settlor. After accounting for all investments sold and purchased
during the year, and the aforementioned endowment, the value of the Charitys net assets increased
during the year by £6.525,815 to £7,555,361.
The market value of the Charity's investments increased from £924,148 to £7,370,338 during the year
predominantly as a result of the endowment re￿Ived, whilst the total net return of the wrtfolio decreased
by 4.28°/u in the year.
Calculation of Realised gains and Losses
The average Gost method has been used to calculate realised gains or losses on investment sales.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Financlal Rovlow
R•servo8 pollcy
It Is the policy of the Trustees to maintain adequat8 reserves to enable the Charity to maintsin the amount
given as charitable grants each year and to presetve the inGome generating capital base.
Princlpal fundlng sources
The Charity's income is derived from its investment portfolio. All investment income 15 accounted for when
received.
Investment policy and obJe¢tlves
The Trustees have the authority to invest the funds of the Charity in a wide range of investments ft)r the
furiherance of the objects of the Charity. and their policy and objectives are reviewed annually by th8
Trustee$ and their professional investsment managers.
Fu
ure develo
ments
The Trustees hope lo be able to cnntinue at approximately the same level of activity in 2023 as in 2022.
The Charity will continue lo operate solely as a grant-making charity.
We declare that in our capacity as the Trusvs Trustees
we have approved the ￿port above.
Alexandra Ahavni Sarkis
David
ami
on
Robert George Maples

FMLLIAM ARTHUR RUDD MEMORIAL TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLIAM ARTHUR RUDD
MEMORIAL TRUST
I ￿pOrt on the accounts of the charity for the y8ar ended 31 December 2022. which 8re sel out ￿ pages 7 10 14.
Responsibilltles and basis of report
As the charity's Truslees, you are responsible for the preparation of the accounts in a￿)rdance with the
requiremonls of the Charities Act 2011 {'Ihe Aci'l. You are satisfied that an audit is not required for this year under
charity law and that an independent examination is need￿.
I report In respeol of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in
Carrying out my examination I have followed all the applicable Directions given by the Charity Commission under
section 145(SXbl of the Act.
An independent examlnation does not involve gathering all the evidence that would be required in an audit and
consequentty does not cover all the matters than an auditor consbders In giving their opinion on the accounts.
The planning and conduct of an audil goes beyond Ihe limited assurance that an independent examination ¢8n
provide. Con5equenUy, l express no opinion as lo whether the accounts P￿sent a 'true and fail, view and my
report is limited lo those Spe￿fiC matters sel out in the independent examinerfs statement.
Independ8nt oxamSnerfs statoment
l arn qualified lo undertake the examination by being a qu8lifi8d member ofthe ln5b.lule of Chartered Accountants
In Eno18nd and Wales.
I have completed my examination. I confirrn that no matsrial matters have ￿me to my attention in connection
with the examinab'on glving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as requlred by secthon 130 01 the Act,. or
2. the accounts do not a￿ord with those records- or
3. the accounts do not comply with the applicable requiremen15 concernlng the fomi and content of
accounts sel out in the Charities (Accounts and Reports} Regulations 2008 other than any Tequirement
that the accounts give a 'true and lair view, which is not a matter considered as part of an independent
examination., or
4. the accounts have not been prepared in aG￿rdance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charib.es applicable lo charities preparing thèir
accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021.
I have no concems and have come across rKJ matters in connection with the examination towhich attention should
be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
AC
Dixon Wilson
22 Chancery Lane
London WC2A 1 LS
31 Octobor
2023

nLLIAM ARTHUR RUDD MEMORIAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unr￿tricted
Income
Fund
Expendable
Endowment
Fund
2022
Total
2021
Total
R•stat
Notes
Income and endowments from:
Investments
125,439
125,439
7,010,222
29,953
127,000
156,953
Estate of Mrs M T Rudd
7.010,222
Total Incomlng resourcos
125.439
7.010,222
7,135,861
Expenditurn on:
Raising funds
Charitsbl& activities
39,427
39,427
8, 706
63,670
14.400
118.198
118,198
Other
Total •xp•nditure
118.198
39.427
157,625
86, 776
Net galnsl (lossosl on investments
Not movem•nt in fund$
1452,2211
6.518,575
1452.2211
6.525,815
72. 186
7,241
142,363
Reconciliation of funds
Total funds brought forward a11 January
1.029.546
1,029,546
887, 183
Totsl funds carried forward at 31 December
7.241
7,548,120
7,555,361
1,029,546

WILLIAM ARTHUR RUDD MEMORIAL TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Restatod
Notès
Flxod assets
Investments
7,370,338
924, 148
Total fixed assels
7,370,338
924,148
Current assets
Cash at bank
Debtors
281,853
1.290
159,282
2,466
Tolal Gurrent assels
283,143
161,748
Crnditors: amounts falling due within one y?ar
98,120
56,350
Net current assetsl (liabilities)
185,023
105.398
Net assets
The funds of the charity:
Unrestricted income fund
IPage 71
Expendable endowment funds {Page 71
7,241
7,548,120
1,029,546
Total charity funds

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Bas1$ of preparation
Basis of accountin
The accounts (financial statements) have been prepared under the historical cost convention with
Ftems recognised at cost or transaction value unless othe￿iSe stated in the relevant notels) to
these accounts. The financial statements have been p￿pa￿d In accordance V￿th Accounting
and Reporting by Charities Statement of Recommended Practice.. preparing their accounts in
accordance the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland
(FRS 102) effective 1 January 2019 and the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Chan
e in basis of accountin
There has been no change to the 8ccounting policies Sin￿ last year.
Chan
eto
revious accounts
The 2021 compardtive Tigures have been amended to show the split be￿en the unrestricted
income fund ar)d the expendable endowment fund.
Accounting pollclos
Incoming resoU￿e$ are included in the Statement of Financial Activities (SOFA) when:
- the charty becomes entided to the resources;
- the trustees are virtually certain they will receive the resources- and
- the monetary value can be measured with sufficient ￿lIability
Where incoming resOUr￿S have related expenditure, the incoming resources and related
expenditure are reported gross in the SOFA.
Grants and donations are only included in the SOFA when the charity has unconditional
entitlement to Ihe resources.
Incoming resources from tax reclaims are included in the SOFA at the same time 8$ the
the in¢xJme to which they relate.
Investment Income Is included in the accounts when receivable.
Investment gains and losses include any gain or105s on the sale of investments and any
gain or loss resulting from revaluing the investments to markel value at the end of the year.
Liabilities are recognised as soon as there is a legal or ¢onstNctive obligation committing
the charity to pay out resources.
Govemance GOSIS inGlude the cost of the prepardtion and examinalion of statutory accounts,
the cost of trustee meetings and the cost of any legal advice to the trustees on governance or
onstitutional matters.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Grants payable are payments made to third parties in the furtherance of the charitable
objectives of the trust. The grant8 are accounted for where either the trustees have agreed
to pay the grant ¥Mthout condition and the recipient ha5 a reasonable expectation Ihal they
will receive the grant, or any condilion attaching to the grant is outside the control of the trust.
2.10
Investments quoted on a recognised stock exchange are valued at matket value at the year end.
2.11
The Charity has an expendable endowmenl fund created by a gift. The income of this trust is
unrestricted. The tenns of the endowment allow the capital of the fund to be spent if the
Trustees so determine.
Unrestricted income funds comprise those funds which the Trustees are free to use for any
purpose in furtherance of the charilable objects. Unrestricted funds include designaled funds
where the Trustees. at their discretion, have created a fund for a speclfic purpose.
Investment assets
2022
2021
Quoted investments
Market value brought forward
Additions
Disposals
Nel realised1un￿8lI$9d investment gainsl (losses)
924.148
8,797,794
11.899.383)
(452,2211
887,915
112,090
(148,043)
72,186
Market valuo at 31st D•¢•mber 2022
.338
9Z4, 748
Investments at market value consists of:
2022
2021
Equities
Fixed interest securitles
5,993.057
1,377,281
690,638
233,510
7,37
,14
All investments are c8rried at their fair value. Investment In equitie8 and fixed interest securities
are all traded in quoted public markets, prim8rfly the London Stock Exchange. Holdings in
Gommon investment fvnds, unit trusts and open-ended investment companies are 8t the bid price.
The basis of fair value for quoted investments is equivalent to the market value. using the bid
price. Asset sales and purchases are recognised at the date of trade at cost (that is their
trans8clion v8luel.
10-

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Cash account balances
2022
2021
Child & Co deposit account
Child & Co current account
Investec capital account
Huntsrs client account
91,822
3, 744
63,716
185,453
96,400
Creditor5- amounts falling duo wlthln one year
2022
2021
Legal, secretarial and administration fees
Donations
Independent examinalion fees
Accountancy fees
9,480
83,000
2,640
3,000
12,360
43.000
990
Transaction5 With Trustees
Robert Maples charged a profession81 Trustee fee of £1.68012021- £1,440}.
The payment was made under the authority given in the Trusl Oeed under Clause 9a.
No Trustee h8s been reimbursed for any out-of-pocket expenses12021- NIL).
There were no transactions for Trustees or connected persons12021- NIL).
Alexandra Sarkis is a Trustee of the Charity and a consultant of Hunters Law LLP. For the
year to 31 st December 2022 Hunters Law LLP charged fees of £22.878 (including VAT)
for legal, secretarial and administration seNices.
Analysis of In¢omlng resources
In￿stment Income
2022
2021
UK interest
UK unit trust interest
UK dividends
UK property income dividends
Unit trust dividends
Overseas dividends
Overseas interest
Interest on bank deposits
663
7,017
14,077
5,391
35,534
25,481
35,367
1,909
5,239
1.320
13,282
6.229
3,882

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2022
2021
Endowmonl funds giftgd by the estate of Mrs M T Rudd
7,010,222
127,000
Analysis of resources expended
Investment management Gosts
2022
2021
Investec Wealth & Investment
39.427
8, 706
Expenditure on investment management costs is attributable to the expendable endowment fund.
Charitable actlvitios
2022
2021
Governance cost8 (note 8.31
Charitable donations (note 8.4}
30,198
88,000
20.670
43,000
118,19
Govornanco costs
2022
2021
Accountanw fee
Independent examination fees
Legal, se¢retarial and administration fees
Twstee fee
3,000
2,640
22,878
1.680
990
18,240
1,440
12-

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Chayltable donatlons
2022
2021
Cardiac Risk in the Young
Cystic Fibrosis
DEC Ukraine Appeal
Dementia Carers Count
Diocese in Europe
Guide Dogs for the Bllnd
Home-start Westminster
Koesder Art Scholarships
Leap Confronting Conflict
MS Trust
Oxfam
Parkinson's UK
Providence Row
Ripple Effect
Success
Trinity Hospice
The Trussell Trust
The walla￿ Collection
World Wision
Young Enterprise & Young Money
3.000
5,000
1,000
6,000
2,000
5,000
3,000
2,000
24,000
16,000
7,000
3,000
3.000
2,000
5.000
5,000
2,000
3,000
10,000
10,000
3,000
1,000
1,000
2,000
1,000
1,000
6,000
1.000
1,000
Oth•r
2022
2021
Counsel's fees
74,400
The Trust employed no stsff during the year ended 31 December 2022 (2021- none).
Analysls of funds
Analysls of net assets between funds
Unrestricted
Income Fund
Expendable
Endowment
Fund
2022
Total
Investments
Cash and debtors
Creditors
7.370,338
177,782
7,370,338
283,143
(98,120)
105,361
(98,1201
13-

LLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
alysls of charltsblÈ funds
Balance
brought
fornard
Balane•
carried
fornard
Incoming R•sourees
resources
eypended
In￿$t￿ent
Losses
Llnrestricted ino)rne fund
E¥pend8ble end¢)wment fund
125.439
7,010,222
(118,1981
139,4271 (452,2211
7.241
7,548.120
1,029.546
7.555,
Prior year- analysis of nèt assots 1)theen funds las restated)
Unrestricted Expendabl•
Income Fund Endowment
Fund
Total
Inveslmgnts
Cash and debtors
Creditors
W24,148
105.398
924.148
161,748
156.350)
56.350
156,3501
1,029.546
Prior ￿ar- anal￿1* of ¢harStable funds las re6tatsd)
Balance
brought
Ineomlng R•sources
fobward r•8ourc•s
expended
Balanc•
earrigd
forward
Invgstrnent
Gains
Transfers
Unrestrict8d income fund
Expendable endowment fund
29,953
127,000
178,070}
18,7081
48,117
148.117}
887,183
72.186
1.029,546
887,1
15
86,776
72,186
.029.546
14-