WILLIAM ARTHUR RUDD MEMORIAL TRUST
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Hunters Law LLP
9 New Square
Lincoln's Inn
London
WC2A 3QN
LAW.PAC.43020-1

WILLIAM ARTHUR RUDD MEMORIAL TRUST
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Page
Statement of the Trustees, Responsibilities
Trustees, Report
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
9-14

WILLIAM ARTHUR RUDD MEMORIAL TRUST
STATEMENT OF TRUSTEES. RESPONSIBLrriES IN RESPECT OF THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are responsible for preparing the Trustees, report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England
and Wales requires the trustee(s) to prepare financial ststements for each financial year which give a true
and fair view of the state of affairs of the charity and of the incoming resources and application of resources
of the charity for that period. In preparing these financial statements, the trustees are required to-.
select suitable accounting policies and apply them consistently;
observe the methods and princlples of the Charities SORP:
• make judgements and accounting estimates that are reasonable and prudent.,
state vthether applicable accounting standards have been followed, subject to any departures disclosed
and explained in the financial statements. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the
financial position of the charity and enable them to ensure that Ihe financial staternents comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 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.

LLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Reference and Administrative Detalls
Charlty reglstratlon number
326495
Princlpal address
9 New Square
Lincoln's Inn
London WC2A 3QN
Trustees
Alexandra Ahavni Sarkis
David Hamilton Smyth
Robert George Maples
Independent Examln8r8
S Rose
Dixon Wllson
22 Chancery Lane
London
WC2A 1LS
Sollcitors
Hunters Law LLP
9 New Square
Lincoln's Inn
London WC2A 3QN
Bankers
Child & Co
1 Fleet Street
London EC4Y 18D
Investment managers
Investec Wealth & Investment
30 Gresham Street
London
EC2V 7QN

WILLIAM ARTHUR RUDD MEMORIAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure Governance and Manaqement
Governing document
The William Arthur Rudd Memorial Trust was created by the late Mrs Mary Templeton Rudd, the Settlor, by
trust deed dated 31st December 1983 in memory of her late husband. William Arthur Rudd.
Method of appointment of new trustees
The power of appointing new trustees is vested in the Trustees.
Organlsatlonal structure of the charlty
The Trustees manage the Charity. They meet on an annual basis and liaise regularly to lake all necessary
decisions jointly with regard to the Charitys activities and achievement of its objectives. Certain day-to-day
administrative tasks are delegated to the charity's legal and investment advisers.
Volunteers
The Charity recelves no assistance from volunteers.
Wider Network
The Charity acts independently and is not part of a wider network.
Donatlons
The Charity is not involved in fund-raising or publiclty and has never received donations.
Related Partle8
The Charity has no subsidiaries and is not connected wlth any other Foundation.
Risk policy
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to
the safeguarding of financial assets of Ihe 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 2023
Ob
ectives and Activttles for the Public Benefit
Objects and slgnificant activlties
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 Truste8s in their discretion think fit. In exercising their discretion the Trustees may have
regard to wishes previously expressed by the Setuor. The Trustees normally make their choices annually.
towards the end 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 application5 for donations. They review the applications received during the year at their
annual meeting and any wishes 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 material supplied.
During the year under review they made donations totalling £133,000 to registered charities in the United
Kingdom. There have been no material changes in the policies of the Charity since 31 st December 2021.
Mrs Mary Rudd, who set up the 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 Benefit statement
The Trustees consider that the Charity's activities. as set out in its Objectives and Activities detailed above,
are for the public benefit, and confirm that they have complied with their duty under 517(5) of the Charities
Act 2011 to have due regard to the guidance on public benefit published by the Charity Commission for
England and Wales,
Achievements and Performance
Charltable activltles
During the year to 31st December 2023 the Charity received income from its investments of £223,154
{£125,439 in 20221 and made charitable donations totalling £133.000 {£88,000 in 2022). The largest
donation was £48,000 and the smallest was £3,000.
Investment Performance
The Trust has professional investment advisers who manage the Charity's investments on a discretionary
basis, subject to the regular review of the Trustees. After accounting for all investments sold and
purchased during the year, the value of the Charitls net assets increased during the year by £242.272 to
£7,803,643.
The market value of the Charity's investments increased from £7,370,338 to £7,870,211 during the year.
Calculation of Reali5ed gains and Losses
The average cost 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 2023
Financlal Review
Reserves policy
It is the policy of the Trustees to maintain adequate reserves to enable the Charity to maintain the amount
given as charitable grants each year and to preserve the income generating capital base.
Prlncipal fundlng sources
The Charitls income 15 derived from its investrnent portfolio. All investment income is accounted for when
received.
Invostment pollcy and objectlves
The Trustees have the authority to invest the funds of the Charity in a wide range of investments for the
furtherance of the objects of the Charity, and their policy and objectives are reviewed annually by the
Trustees and their professional investment managers.
Future develo
ments
The Trustees hope to be able to continue at approximately the Same level of activity in 2024 as in 2023.
The Charity will continue to operate solely as a grant-making charity.
We declare that in our capacity as the Trust's Trustees
we have approved the report above.
Alexandra Ahavni Sarkis
David Ham
on
Robert George Maples

WILLIAM ARTHUR RUDD MEMORIAL TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLIAM ARTHUR RUDD
MEMORIAL TRUST
I report on the accounts ofthe charity for the year ended 31 December 2023, which are set out on pages 7 to 14.
Responslbllltles and basis cf report
As the charity's Trustees, yau are responslble for the preparatlon of the accounts in accordance with the
requirements of the Charities Act 20111.the Act,). You are satisfied Ihat an audit is not required for this year under
charity18w and that an independent examination is needed.
I report in respect of my examlnation of the Trust's accounts carrled out under section 145 of the 2011 Act and In
carrying out my examination I have followed all the applicable Direction5 given by the Charity Commission under
sèction 14515llbl of the Act.
An Independent examlnation does not involve gathering all th8 èvidence that would be required in an audlt and
consequently does not cover all the matters than an auditor consider5 In giving their opinion on the accounts.
Th8 planning and conduct of an audit goes beyond the limited assurance that an independent examination can
provide. Consequently, l express no opinion as to whether the accounts prBsenl a 'tnJe and falr. view and my
report is limited to Ih05e specific m8tters sel out in the independent exarnineff s statement.
Independent •xamlner's statement
l am qualified to undertak8 the examination by being a qualified rnember of the Institute of Chartere(J Accountants
in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause lo believe that in any m81erial respect-
accounting records were not kept in respect of the Trust as requlred by section 130 of the Act., or
2. the accounts do not accord with those records- or
3. the 8ccounts do not comply with the applicable requirements concerning the fom and content of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent
examination., or
4. the accounts have not been prepared in accordance wlth the methods and prlnciples of Ihe Statement of
Recommended Practice for accounting and reporting by charities applicable lo charities preparing their
accounts in accordence with the Financial Reportlng Stsnd8rd applicable in the UK and Republic of
Ireland (FRS 1021.
I have no concern5 and have ceme across no matters In connection with the examination to which attention should
be drawn in thi5 r
ort in order to enable a proper understanding of the accounts to b8 reaGhed.
Rose
CA
Dixon Wilson
22 Chancery Lane
London WC2A 1LS
2024
15 November

WILLIAM ARTHUR RUDD MEMORIAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Expendable
Income
Endowment
Fund
Fund
2023
Total
2022
Total
Notes
Income and endowments from:
Investments
223,154
223,154
125,439
Estate of Mrs M T Rudd
7,010,222
Total Incoming resources
223,154
223.154
7, 135,661
Expendlture on:
Raising funds
Charitabl8 activities
40,543
40.543
39,427
193,880
193,880
118,198
Other
26
26
Total oxpendlture
193,906
40,543
234.449
157,625
Net galnsl (losses) on investments
Net movement In funds
253,568
253,568
(452,2211
6,525,815
29,248
213,025
242,272
Reconciliatlon of funds
Total funds brought foNard at 1 January
7,241
7,548,120
7,555,361
1,029,546
Total funds carried forward at 31 Oecember
36,489
,761,145
7,797,63
,555,361

WILLIAM ARTHUR RUDD MEMORIAL TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Investments
7,870,211
7,370,338
Total fixed assets
7.870,211
7,370,338
Current assets
Cash at bank
Money due from Investec
99,244
6,628
281,853
1.290
Total current asset5
105,872
283, 143
Credltors: amounts falling due wlthin one year
178,450
98, 120
Net current as8etsl (Ilabllitles)
(72,578)
185,023
Net assets
The funds of the charlty:
Unrestricted income fund
(Page 7)
Expendable endowment funds IP898 7)
36,489
7,761,145
7,241
7,548, 120
Total charlty funds
7,79
33

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Basis of preparation
Basis of accountin
The accounts (financial statements) have been prepared under the historical cost convention with
items recognised al cost or transaction value unless otherwise stated in the relevant note(s) to
these accounts. The financial statements have been prepared in accordance with Accounting
and Reporting by Charities Statement of Recommended Practice: preparing their accounts In
accordance with the Financial Reports'ng Standard applicabl8 in the UK and Republic of Ireland
{FRS 102) effective 1 January 2019 and the Financial Reporting Standard applicable in the Unlted
Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Ch
in basls of accountin
Th8re has been no change to the accountlng pollcles slnce last year.
Accounting pollcles
Incoming resources are included in the Ststement of Financial Activities (SOFA) when..
the charity becornes entitled to the resources.,
the trustees are virtually certain they will receive the resources- and
the monetary value can be measured with sufficient reliability
Where incoming resources 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 the resources.
Incoming resources from tsx reclalms are included In the SOFA at the sam8 time as the
the income to which they relate.
Investment income is included in the accounts when recelvable.
Inveslment gains and losses include any galn or loss on the sale of investments and any
gain or loss resulting from revaluing the investments to market value at the end of the year.
Liabilities are recognised as soon a5 there is a legal or constructive obligation committing
the charity to pay out resources.
Governance costs include the cost of the preparation and examination of ststutory accounts.
the cost of trustee meetings and the cost of any legal advic8 to th8 trust8es on govemance or
constitutional matter5.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Grants payable are payments made to third parties in the furtherance of the charitable
objectives of the trust. The grants are accounted for where either the truste8s have agreed
to pay the grant without condition and the recipient has a reasonable expectation that they
will receive the grant, or any condition attaching to the grant is outside the control of the trust.
2.10
Investments quoted on a recognised stock exchange are valued at market value at the year end.
2.11
The Charity has an expendable endowment fund created by a gift. The income of this trust is
unrestricted. The terms of the endowment allow the capital of the fund to be spent if the
Trustees 50 determin8.
Unrestrfcted Incom8 funds comprise those funds whlch the Trust88s are free to use for any
purpose in furtherance of the charitable objects. Unrestricted funds include designaled funds
whère the Trustees, at th8ir discretion, have cr8ated a fund for a specific purpose.
Investment assets
2023
2022
Quoted investments
Market value brought forward
Additions
Disposals
Net realisedlunrealised investment gainsl (losses)
7,370,338
4,021,018
(3,774,713)
253,568
924,148
8, 797, 794
(1,899,383)
(452,221)
Market value at 31st December 2023
7,370,
Investments at market value conslsts of:
2023
2022
Equities
Fixed interest securities
5,844,999
2,025,212
5,993,057
1,377,281
7,870,211
7,370,338
All inve5trnents are carried at their fair value. Investrnent in equities and fixed Interest securities
are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in
common investment fund5, unil trusts and open-ended investment companies are al 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
transaction valu8).
10

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Cash account balances
2023
2022
CAF Bank account
InvesteG capital account
Hunters client account
8,924
90,320
185,453
96,400
Credltors: amounts falling due wlthln one year
2023
2022
Trade creditors
Accruals
Other creditors
34.440
6,010
138,000
15,120
83,000
Transactions wfth Trustees
Robert Maples charged a professional Trustee fee of £1,800 (2022 - £1,680).
The payment was made under the authority given in the Trust Deed under Clause 9a.
No Trustee has been reimbursed for any out-of-pocket expenses12022 - NIL).
Alexandra Sarkis is a Trustee of the Charity and a consullant of Hunters Law LLP. For the
year lo 31st December 2023 Hunters Law LLP charged fees of £52,470 (includlng VAT)
(2022- £22,878) for legal, secretarial and administration servlces.
Analysls of Incornlng resources
Investment income
2023
2022
UK bank interest
UK interest
UK unit trust inleresl
UK gilt interest
UK dividends
UK property income dividends
Unit trust dividends
Overseas dividends
Overseas interest
Interest on bank deposits
30
21,996
6,351
9.709
14.274
4,190
51,070
38,019
75,433
2.083
663
7.017
14,077
5,391
35,534
25.481
35,367
1,909
223,154
25,439
Income from investrnent assets is attributable to the unrestricted fund.

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Endowment funds gifted by the estate of Mrs M T Rudd
7,010.222
Endowment funds gifted by the estate of Mrs M T Rudd are attributsble to the expendable
endowment fund.
Analysls of resources expended
Investment management costs
2023
2022
Investec Wealth & Investment
40,543
39,427
Expenditure on investment management costs is attributable to the expendable endowment
fund,
Charltable activltles
2023
2022
Governanc8 Costs (note 8.3)
Charitsble donations (note 8.4)
60,880
133,000
30,198
88,000
3,880
98
Expenditure on charitable activities is attributable to the unrestricted Income fund,
Governance costs
2023
2022
Accountancy fee
Independent examination fees
Legal. secrBtarial and administration fees
Trustee fee
3,970
2,640
52,470
1.800
3.000
2,640
22,878
1,680
60,880
30,198
12-

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Charltable donatlons
2023
2022
Cystic Fibrosis
DEC Ukraine Appeal
Diocese in Europe
Guidé Dogs for the Blind
Holy Trinity Church Las Palmas
Home-start Westminster
Kids Space
Koestler Art Scholarships
MS Trust
Oxfam
Parkinson's UK
Providenc8 Row
Ripple Effect
Royal Trinity Hospice
Success Life After Cure Ltd
The Respite Association
The Trussell Trust
The Wallace Collection
UKfor UNHCR
UK Hospice
World Vision
3.000
3,000
5,000
5,000
3,000
4,000
5,000
20,000
5,000
48.000
2.000
24,000
3,000
3,000
2,000
5,000
5,000
3,000
2,000
3,000
5,000
5,000
5,000
10,000
10,000
5,000
5,000
10,000
10,000
3, 000
,00
33,000
other
2023
2022
Bank charges
26
other expendlture is attributable to the unrestricted Income fund.
The Trust employed no staff during the year ended 31 December 2023 (2022 - none).
Analysi8 of funds
Analysls of net assets between funds
Unrestricted
Income Fund
Expendable
Endowment
Fund
2023
Total
Investments
Cash and debtor5
Creditors
7,870.211
(109.066)
7,870,211
105,872
(178,450)
7,797,633
214,939
(178,450)
36,489
7,761,14
13-

WILLIAM ARTHUR RUDD MEMORIAL TRUST
NOTES TO TrIE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
alysis of charitable funds
Balance
brought
forward
Balance
Carrled
forward
Incomlng
resources
Re50urGes
Investment
expended Galnsl{Iosses)
Unrestricted income fund
Expendable endowment fund
7,241
7,548,120
223.154
{193,9061
140,5431
36.489
253,568 7,761,145
Prlor ￿ar. analy•ls of net •¥8•ts b•tween fund¥
Unrestrlctfjd
Income Fund
Expendable
Endowrnent
Fund
Total
Inv85tments
Cash and debtor8
Creditors
7.370,338
177,782
7,370,338
283,143
198,1201
105,361
198,1201
1 7,555,361
Pr(or year. analysls of charltable funds
Balanee
brought
forward
Balance
carrled
forward
In¢omln9
resources
Resources
Investm•nt
expended gainslllossgs
Unrestricted Income fund
Expendable endowment fund
125,439
7,010,222
(118,1981
139,4271
7.241
1452,2211 7,548,120
1,029.546
1,029,546
7.135,661
1452.221
11S7.6251 ￿ 7.555,361
14-