MARGARET WESTWOOD MEMORIAL CHARITY (Registered Charity Number: 500125) TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENT YEAR ENDED 5 APRIL 2024 HIGGS LLP SOLICITORS 3 Waterfront Business Park Brierley Hil I West Midlands DY5 ILX Margaret Westwood Memorial Charity Index to the Financial Statements Year Ended 5 April 2024 Page Reference and Administrative Information 3-12 Trustees, Annual Report 13 Accountants, Report 14 statement of Financial Activities 15 Balance Sheet 16-23 Notes to the Accounts Margaret Westwood Memorial Charity Page I Reference and Administrative Information Year Ended 5 April 2024 Governing Documents The Charity is governed by a Charity Commission Scheme dated 22 March 1988 and an Order of 26 October 2005 as amended by a resolution dated 17 February 2009, a resolution of the Trustees under settion 280 of the Charities Act 2011 dated 19 January 2022 and a resolution of the Trustees under section 282 of the Charities Act 2011 dated 22 August 2023. The Charity is ￿gIStered with the Charity Commission under registered charity number 500125. Trustees Colin Robert Beardwood OBE Peter Allen (retired 14 June 2023) June Annette Hylda Longmuir Peter Michael McDonald Frances Ma ry Oborski Sean Patrick Shannon Peter Edward Sugg (Chalr) John William Roland Thomas Elizabeth Boyns Tucker Blll Gavan (appointed 14 June 2023) Secretary to the Trustees Ms K McEwen, Higgs LLP Treasurer Mr N Smith, Folkes Worton Principal Office Higgs LLP 3 Waterfront Business Park Brierley Hill West Midlands DY5 ILX Accountants Headley Meredith 13 Church Street Stourbridge West Midlands DY8 ILT Independent Examlners Folkes Worton 15-17 Church Street Stourbridge West Midlands DY8 ILU Bankers CAF Bank 25 Kings Hill Avenue, Kings Hill, West Malling Kent, ME19 4JQ Margaret Westwood Memorial Charity Page 2 Reference and Administrative Information Year Ended 5 April 2024 Solicitors Higgs LLP 3 Waterfront Business Park Brierley Hil I West Midlands DY5 ILX Discretionary Investment EFG Harrls Allday Manager 33 Great Charles Street Birmingham West Midlands B3 3JN Margaret Westwood Memorlal Charity Page 3 Trustees Annual Report Year Ended 5 April 2024 The Trustees present their annual report and financial statements of the Charity for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in accounts and comply with the Charity's Governing Documents, the Charities Act 2011 and the Statement of Recommended Practice applicable to the charities preparing their accounts with the Financial Reporting Standard applicable on l January 2019. structure Governance and Management The Charity was registered wlth the Charity Commission on I September 1970 under registered charity number 500125. The Charity is constituted under the will of William Westwood Skldmore Westwood {'the Testator,) of the 19 August 1946, as amended by a Scheme of the Charlty Commission of 18 January 1972, a Scheme of the Charity Commission dated 22 March 1988 and an Order of the Commission of 26 October 2005, a resolution of the Trustees dated 17 February 2009, a resolution of the Trustees dated 19 January 2022 and a resolution of the Trustees dated 22 August 2023 ("the Governing Documents,?. The Charity does not actively fundraise and seeks to contlnue the charitable work deslred by the Testator through the careful stewardshlp of its existing resources. Nominative Trustees: Nominative Trustees are appointed under clause 5 of the Trustees Resolution dated 19 January 2022 for a term of office of four years. Nominative Trustees are appointed by Worcestershire County Council, Dudley Metropolitan Borough Council and Sandwell Metmpolitan Borough Council in such numbers as the Trustees determine from time to time. There must be a minimum of two and a maximum of four Nominative Trustees. The Nominative Trustees for each Council are as follows: Worcestershire County Council Peter Michael McDonald Frances Mary Oborskl Sandwell Metropolitan Borough Council Blll Gavan Margaret Westwood Memorial Charity Page 4 Trustees Annual Report Year Ended 5 April 2024 Co-optative Trustees Co-optative Trustees are appointed under clause 8 of the Scheme of the Charity Commission dated 22 March 1988 for a term of office of five years, by virtue of their speclal knowledge of the area of benefit, through residence, employment or otherwise. The Trustees Resolution of 19 January 2022 provides for the appointment of a minimum four Co-optative Trustees and a maximum of eight Co-optative Trustees. The Co-optative Trustees are as follows: Colin Robert Beardwood OBE June Annette Hylda Longmuir Sean Patrick Shannon Peter Edward Sugg John William Roland Thomas Elizabeth Boyns Tucker Nomlnative Trustees are appointed by their respective appolnting Councils for a term of four years at a meetlng convened and held according to the ordinary practice of the appointing Council. The Chair of the meetlng of the appointing Councll is required to provide to the Trustees and the Secretary the name and details of the person appointed. That person need not be a member of the appointing Council. Co-optative Trustees are appointed for a term of office of five years by a resolution of the Trustees passed at a special meeting, of which not less than 21 days, notice has been given. A Co-optative Trustee may be appointed not more than one month before the term of an existing Co-optative Trustee expires, to take effect from the date of expiry, but so that the existing Co-optative Trustee shall not then vote on the matter. Co-optative Trustees must, through residence, occupation or employment, or otherwise, have special knowledge of the area of benefit. The Governlng Documents provlde that there shall be no more than four Nominative Trustees and no more than eight Co-optative Trustees. At the Trustees, meetings, the Trustees agree the broad strategy and areas of activities for the Charltyt including consideration of grant making, investment, reserves and rlsk management policies and performance. Margaret Westwood Memorial Charity Page 5 Trustees Annual Report Year Ended 5 Aprll 2024 The Trustees meet three times per year. The quorum at any meeting Is when four Trustees are present. The day to day administration of grants and the processing and handling of appllcations prior to conslderation by Trustees Is delegated to the Secretary. The Secretary will consider the monitoring informatlon concerning the performance of grants to date and make recommendations to the Trustees concerning the extension, cessatlon or suspension of existlng grant approvals. The Trustees will take account of the recommendations of the ICSA best practice guide 'Recruitment, Appointment and Inductlon of Charity Trustees, should the need to recruit new Co-optative Trustees arise. The Trustees would look to recruit in light of an appropriate skills audit of the current Board and taking into account the experience, expertise and diverslty of the current Board, as well as their knowledge of the Charity's area of benefit and beneficial class. New Trustees may be sought by open advertisement or through a dialogue wlth local communlty groups respecting the ethos of the Charity. To continue the charltable work Intended by the Testator, the Trustees actively seek those with a knowledge of the local area when considerlng any prospective candidate. The ultimate decision on selection is a matter for the Trustees. On appolntment new Trustees sign a Trustee Declaration and Undertaking committing them to the givlng of their time and expertise. It also conflrms their ability to act in the role of Trustees. The indurtion process has been changed to follow the ICSA good practice guide with a formal Inductlon programme for any newly appointed trustee being led by the Clerk, to include initial tralning in the grant making process, the duties and responsibilities of the Trustees and the role of any sub committees. The welcome pack includes, amongst other information and guidance, a brief hlstory of the Trust, copy of recent Trustee (and sub committee) minutes, a copy of the last three years of annual reports and accounts, a copy of the Governing Document and a copy of the Charity Commission's guldance 'The Essential Trustee: What You Need to Know, and 'Charities and Publlc Benefit,. The Trustees intend in the upcomlng year, with the support of the Clerk, to continue developing a code of conduct for Trustees including formal statements of roles and responsibilities and to undertake work on the Charity Governance Code. All Trustees give of their time freely and no Trustee remuneration was paid In the year. Trustees are entitled to claim reasonable out of pocket expenses and where they do those are noted in the accounts. Margaret Westwood Memorial Charity Page 6 Trustees Annual Report Year Ended 5 April 2024 Trustees are required to disclose annually (and as they arise) any potential Interests which mlght conflitt and register them with the Clerk and in accordance with the Charity's written conflicts of Inte￿St policy. Risk Management The Trustees have considered the major risks to which the Charity is exposed and have reviewed those rlsks and established systems and procedures to manage those rlsks. The major financial risk is the varlability of investment returns on the portfolio and its impact on income levels and capital growth. The Trustees have actively sought to manage this rlsk by appointing Charles Phlpps of EFG Harris Allday as Discretionary Manager of the investment portfolio. His role is to monitor the performance of the portfolio, to take appropriate action to mltigate any loss to the portfolio, and to ensure that the objectives as detailed in the Investment Policy Statement are following and revlewed annually. The major operational risk is the extent to which grants awarded to individuals and charitable or not for profit organisations advances the objects of the Charlty and demonstrate sufflclent public benefit. The Charity has managed its risk by retaining Trustees of sufflclent expertise and experience, and through the quality of the Instltutions and the people who they support. In addition, the Trustees rely on the Clerk to undertake approprlate and proportionate due diligence on applicatlons and ensure all grant giving retains a focus on the publlc benefit. The major regulatory impact of the Common Reportlng Standard ('the CRS,), on the operation of the Charity. CRS is being an international tax transparency regime almed at preventing tax evasion. CRS came into force from l January 2016 and the Charlty is now required to provlde information about their beneficiaries, tax residency status to HMRC, who will then share this Information with the appropriate tax authority in other jurisdictions. The Charity is subject to this regime because it relies on investments for more than 50 % of its income and those investments are professionally managed by a financial institution under dlscretionary mandate. This means the Trustees are required to carry out due dillgence to establish a tax residency status of all beneficiaries, keep records of efforts to comply with the regime, register with HMRC as a financial institution ("Financial Institutlon,? if they have reportlng requirements and report to HMRC if required. Margaret Westwood Memorial Charity Page 7 Trustees Annual Report Year Ended 5 April 2024 The grant application process is reviewed annually and the grant application form expanded to collect the necessary due diligence information that is required in order to establish tax residency status of all grant recipients, both individuals and charity and not for profit organisations. This includes additional information including tax resident jurisdiction, tax identification number (for individuals) and entity status (for organisations). The Trustees will keep this under review. Objects and Activities for the Public Benefit The objects of the Charity are to make grants "for charitable purposes devoted to the physical, educational or moral welfare and benefit of children or young persons in the area of benefit-. The area of benefit is defined as the former County of Worcestershire as constituted on the 19 August 1946" ('the Area of Benefit,). The Trustees confirm that they have referred to the Charlty Commission's guidance on public benefit when revlewing the Charity's objects and In planning future activities and setting the grant making policy for the year. The Charity carrles out its objects by providlng grants to individuals (for exclusively charitable purposes) and to charitable or not for profit organisatlons within the area of benefit (for exclusively charitable purposes) within the Area of Benefit. By focusing on these areas of grant activity, the Charity achleves its strategic priorlty of malntaining an extenslve structured grant making programme, balancing support to both individuals and institutions. Grant Making Policy The Trustees have power to spend the income, with the capital being retained as permanent endowment and not expendable. The income is expended on an annual basis in furtherance of the objects. The Charity has adopted a written grant making policy, which details how the Trustees intend to meet the objects for the public benefit, and improve the Ilves of individuals and support charitable and not for profit organisations (for exclusively charitable purposes) within the geographical Area of Benefit which the Trustees have established and which they review on an annual basis. The Trustees revlew the grant making policy annually to ensure it reflects the Charlty's objects and contlnues to advance public benefit. The Charity's beneficiaries are individuals under the age of 25 who live in the Area of Benefit and charitable or not for profit organisations (for exclusively charitable purposes) within the same. Margaret Westwood Memorial Charlty Page 8 Trustees Annual Report Year Ended 5 Aprll 2024 Grants are awarded to individuals who can demonstrate a charitable need to support the costs of educational visits or expeditions, the cost of books and other resources, but not towards the normal costs of education such as course fees or residential costs. Grants are awarded to charitable or not for profit organisatlons (for exclusively charitable purposes) for capital projects wlthin the area of benefit. The Trustees will not generally meet core administration costs such as staff costs or property costs etc. The general policy of the Trustees is not to award retrospettive grants and the Trustees retaln a discretion to only conslder an applicatlon from an individual or a charitable or not for profit organisation (for exclusively charitable purposes) once in any two year period. Grant Making Procedure Applications can only be considered if they are on the Charity's Standard application form. The applicatlon form must be completed and returned (together with a copy of any supportlng information relevant to the application) to the Secretary at least four weeks before the meeting at which the application is to be consldered. The Trustees meet three tlmes a year to consider applications. It is the policy of the Trustees to conslder grants on an equal opportunities basis, regardless of gender, religion and ethnlc background. Public Benefit The Trustees confirm that they have referred to the information contalned in the Charity Commission's general guldance on public benefit when reviewing the Charity's objects and attivities, their grant making policy and plans for future period. The objects and artivities of the Charity are largely determined by the provisions of the Governing Documents, and from there the Trustees exercise a discretion in considering how best to meet the public benefit test and ensure that as many indivlduals and charitable and not for profit organisations {for exclusively charitable purposes) with particular needs will gain advantage. Further details of the grants made are set out in the schedule to the accounts at pages 22 and 23. Monitoring and Achlevement The Trustees have continued with an aspiration to seek a reasonable return over a long term. In recent years the return has shown a welcomed recovery and It Is considered that our long term objertives remain obtainable. Margaret Westwood Memorial Charity Page 9 Trustees Annual Report Year Ended 5 April 2024 During the year the performance of the princlpal investment portfolio was managed by EFG Harris Allday and was positive with all agreed benchmarks being met. During the year the number of grant applications considered was 58. Grants were made to 7 charltable and not for profit organisations (for exclusively charitable purposes) and 51 individuals. The grants made to charitable and not for profit organisations (for exclusively charitable purposes) amounted to £18,750 and the grants to individuals amounted to £13,350. Financial Revlew The Charity's work is entirely rellant on income generated on the investment portfolio held wlth EFG Harris Allday. The total gross income for the year on the investment income fund was £43,438 (c/f 2023 £57,709). Details of the changes to the investments made by the Trustees are shown in the accounts. Investment Policy and Performance The Investment powers of the Trustees are as contained In the Trustee Act 2000. This includes the general power of investment under sections 3 7. The Trustees have an absolute discretion and are treated as the absolute owners beneficially entitled. The investment powers of the Trustees are wide and allow the Trustees to invest funds in any manner (after taking such advice as they consider necessary) and having regard to the suitability of investments and need for diversification. The principal Investment holdings of the Charity comprise funds and portfolios of quoted securities. As at 5 April 2024, the value represented 100 % of the Charity's investments. The management of the portfollo is undertaken on a dlscretionary management basis by EFG Harris Allday and the written investment policy is reviewed on at least an annual basls by the Secretary in conjunction with the investment managers and ultimately approved by the Trustees. Margaret Westwood Memorial Charlty Page 10 Trustees Annual Report Year Ended 5 April 2024 The value of the capital account fund as at 5 Aprll 2024 was £987,506 (c/f 2023 £1,014,996). As at 5 Aprll 2024 the Trustees held cash with EFG Harris Allday (earnlngs account) of £21,455 and cash in the bank with CAF of £30,490. The Trustees adopted an investment policy statement on 30 October 2019 which is reviewed on an annual basis. Reserves Policy The whole of the Charity'5 capltal is expendable and this distinction between capital and income is not relevant. The trustees appreciate that the general principles of charity law requlre trustees to spend their income within a reasonable period of receipt. The Trustees have set and agreed a policy whlch broadly Identlfies the framework wlthin whlch the Charity wlll operate its reserves. The intention is that the Charity will retaln an appropriate and reasonable level of reserves whilst concurrently ensuring that it uses the income in a manner that is within the objects at the best Interests of the Charity and its beneficiarles. Since the Charity receives all of its Income from the investment portfolio, the Trustees are mindful that the source of income can be volatile and subjert to sudden changes in the market. They are concerned that in any year there is a risk that they cannot meet their ongoing administration and professional expense commitments as and when they .arise, due to any fluctuations in the market which may prevent or significantly reduce income. The Trustees have therefore considered, in conjunction with the professional advisers, the level of reserves to retain from surplus unrestricted funds. They have decided to build up a pot of reserves equivalent to one yearfs administrative and professional expenses but excludlng grant commitments. This will ensure that should there be any fluctuations in the market which reduce the income available for distrlbution, the Charlty can use its reserves to continue to meet its obligations and Ilabilities as and when they fall due. io Margaret Westwood Memorial Charity Page 11 Trustees Annual Report Year Ended 5 Aprll 2024 Plan for Future Periods The Trustees believe their grants have translated into significant public benefit. The Charity is a lasting testimony to the generosity and charitable concerns of the Testator. In cementing the arrangements already in pla￿, and continuing with its current activities as set out in this report, so that the many and varied charitable and not for profit organisations, and individuals may continue to benefit in real terms from its financial support, the Charity aims to provide a longer term commitment and thereby encourage and support individuals and charitable and not for profit organisations Within the area of benefit. The intention is to continue a programme of grant glvlng which will translate into significant publlc benefit. The Trustees will focus on those individuals and organisations who would benefit in real terms (impact) from its financial support, thus providing and ensuring a longer-term commitment to support. Trustees. Responsibilities in Relation to the Financlal Statements The Trustees are responsible for preparing the Trustees, Report and the flnanclal statements in accordance with applicable law and regulations and United Kingdom Accountlng Standards. The law applicable to charities in England and Wales required the Trustees to give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, includlng income and expendlture of the Charity for that period. In preparing these flnancial statements, the Trustees are required to: select suitable accountlng policies and then apply them consistently. obseNe the methods and principles of the Charities SORP. make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any material 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 operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Governing Documents. li Margaret Westwood Memorial Charity Page 12 Trustees Annual Report Year Ended 5 April 2024 They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud any other Irregularities. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Register of Charities. Approved by the Trustees and signed on their behalf by,. Peter Edward Sugg Chair to the Trustees 12 TRUSTEES OF THE MARCARET WFSTWOOD MEMORIAL CHARITY ACCOUNTANTS REPORT FOR THE YEAR ENDED 5 APRIL 1024 We repx)rt on the accounis foi. the year ended 5 April 2024 sel oul on pages 2 to 7. Respeetive responsibilities of trustees #nd A¢eountants As the charity's Iruslees you I'esponsiblc loi. the prepw'ation of the financial statements. you consider that the audil iEquiremenl5 of section 43 (2) of the Chai'ilies Act 2011 (the Acl) does not apply. It is our rc5ponsibilily to 51atfy on the basis of pi'ocedures specified in Ihe General D1￿ctIonS given by the Ch&'ity Commissioners undeT se¢lion 43 (7) (b) of the Act, whethei. particular Mall￿.5 have come 10 our allenlion. Basls of Omr i*poi'¢ Oui. examination was cai'ried out in ac¢onlance with the General Directions given by Ihe Chdrily Commissioner& An axamination includes a review of Ihe accouniing records kept by the charity and a compari50n of the accounts Presented wilh those ie¢ords. li also includes consid¢ralion of any unusual item5 01. disclosui'es in the a¢￿￿nIs. and seeking explanation5 fi'om you &8 Iruslees concerning such Matt￿S. The pi'ocedures undeitaken do not provide all ihe evidence that would Ee requiied in an audit. and consequently we do not &xpitss an audit opinion on Ihc view given by the accounts. Reportlng ￿￿O￿￿tantS, stfitement In connection with oui. exarninalion, no mattej. has come to our attention: (l) which gives us reasonable cause to believc that in any material irspecl the rcquii'emen15 - to kecp accounting recoiyls in accordance with section 41 ofthe Act. - io prepare acwunts in accoi'd with ihe 8uounting I'ecords and lo ¢omply with the accounting requIr￿￿ents of the Acl have not been met. oi. (2) in which, in our opinion, attention shoLbld be di'awn in order to enable pi'oper understanding of Ihe a¢countsto be ￿ached. rioll(ES Worton LLP ChArtered Accountants 15 & 17 Church Sti'eel Stourbi'idge Wesi Midlands DY8 ILU 16th O¢lober 2024 13 TEES OF TH L CHARITY ESTW STATE , FINANCIALA THE YEAR ENDED S APRIL2024 R TrHEfftERIQD E. Tot*1 funds 2024 TotAI Ineome Account CApI(AI Funds 2023 GROSS INCOME Investment income Property inconje Donation received Bank interest Transfer of in¢ome from capital lund Profil on dlswjsal of inYe5tm¢nts 6,438 1,355 31.653 3,663 38,091 5,018 41,542 5,488 329 35,316 329 (35J16) 10,675 S7,709 43,438 4J,438 LESS.. Grnnts aw8nd¢d L055 on disposal of Investments {32,1(JO) (32.100) (20.185) 38 20.789 LESS: EXPENDITURE Se¢retary's expenses Treasuw's expens¢s 14arris Allday fres Profe5sion81 fees Bank charges Sundiy expenses {11,782) (3.585) (11.7¥1) 13.585) {6,701) (4,920) (105) {14,164) 13,682) 15.624) (6,701) (4,920} (105) (6.701 Excess of in¢om¢ ovei. expeudl¢ur¢ for the yeRf (9,054) (27.490) (36,544) (966) Aceumul*ted Ineome and IKrnan¢iit end(tywmeni brought fDnvaYd 55288 ,014,996 1,070,284 1.071,250 Ac¢umulite2￿ Qg.757.CO) 1&SlQl8) .116. .1￿¢D 247&9.$8 i?.yJoty) 2UDI 1.00 3&?￿ 4J25.(¢ ¢ty (iiJ¥ 2￿WID￿ . - JIJOIOI '.. iiij.jsi J&JN.64 J&71& iiq'.¥Ji25 15é1.gw Q5JV511025 3V.72t.10 TRUSTEES OF THE MARGARET WESTWOOD ME ORIAL CHARITY NOTES TO THF, FINANCIAL ￿ATEmENTs FOR.THE YEAR ENDED S APRI FOR THE PERIOD ENDED 5 APRIL 2024 051114n024 0510412023 2. CREDITORS Secretary's expenses Ti'easurels exp¢n5es 2,550 1,855 1,604 2.552 4,405 4,156 3. FUNDS At OS104n023 Movemenl in year At 0510412024 Capital arcount Income account ,014,996 55,288 (27.490) (4,134) 987.506 51.154 1,070,284 (31,624) 1,038.660 4. TRUSTEE REMUNERATION No remuneration was paid to the ts'ustees during the period. 5. GRANTS PAID Number Grants to individuals Grants to instimlions 51 13.300 18,750 32,050 TRUSTEES OF THE MARGARET WESTWOOD MEMORIAL CHARITY SCHEDULE OF INVESTMENT INCOME FOR THE YEAR ENDED S APRIL 2024 FOR THE PERIOD ENDED 5 APRIL a024.' Holdln nvestment income Dwle Dividend Pern￿nent EndoMnent Fund 5000 5000 311nfrastruthiE pl 31 Infi'asliu¢bJre plc 1110112024 1110112024 15.00 282.50 75000 75000 Aberdeen Woi'ld Eqty Income FD Inc Aberdeen World Eqty fncoine FD Inc 28104r2023 2810412023 376.13 123.23 15000 15000 BBGI Global Infrasts'ucture S.A BBGI Global Infi'astNcture S.A 1911 or2023 05104r2024 594.75 892.L3 30000 Digital 9 Infrastructure PIC 30106r2023 450.00 16000 16000 16000 1600 Dunedin Inc Grwth Inv Tst Dunedin Inc Grwih Inv Tst Dunedfftn Inc GThYth Inv Tst Dunedin Inc Grwth Jnv Tst 3010512023 25108r2023 2411112023 29102r2024 656.00 512.00 512.00 512.00 40000 40000 40000 40000 GCP Infrastructuir Inv Ltd GCP Infi?structure Inv Ltd GCP Infrastructuiy Inv Ltd GCP Infra$tructuir Inv Ltd 14106t2023 13109r2023 0511212023 08103r2024 700.00 700.00 700.00 700,00 i 0000 Greencoat UK 29102r2024 343.00 iooo iooo 1000 2000 GSK PLC GSK PLC GSK PLC GSK PLC 13104r2023 1310712023 12110r2023 I i1oir2024 137.50 140.00 140.00 280.00 11250 11250 HICL Infrasti'uctUlE PIC HICL lllfi'astructure PIC 29112r2023 2911212023 129.78 101.97 20000 20000 InteiTrational Public Ptns International Public Ptns 07106r2023 1711112023 774.00 812.00 20000 20000 20000 20000 Middl¢field Canadian Income Middlefield Canadian Income Middlefield Canadian Income Middlefield Canadian Income 28104Q023 31107r2023 31110r2023 3110112024 260,00 260,00 260.00 265.00 2500 2500 Murray Inc TTUSI pl¢ Murray Inc Trust pl¢ 14112r2023 1410312024 237.50 237,50 18 TRUSTEES OF THE MARGARCT WESTWOOD MEMORIAL CHARITY SCHEDULE OF INVLSTMENT INCOME CONT'D FOR THE YEAR ENDED S APRIL 2024 FOR THE PERIOD EliDLli 5 A2RI:, 20&4 Holdiii lfftvestment income Date Dividend 30000 30000 30000 30000 30000 30000 Octopus Renewables Infra Trust Pl¢ Octopus Renewables Infra Tft￿t PIC Octopus Renewabl￿ Infra Tn￿t PIC Ootopus Renewables Infra Trust PIC Octopus Renewables Infra Trust PIC Octopus Renewables Infra Trust PIC 05106r2023 0510612023 01109r2023 01109t2023 0111212023 01112r2023 251.86 180.14 190.10 244.91 247.08 187.92 15000 15000 SDCL Energy Efficiency Inc Trust SDCL Energy EfficienGy Inc Trust 2211212023 2810312024 234.00 468.00 40000 40000 40000 40000 Tayloi. Maritime Investments Ltd Tayloi. Mai'itime Investments Ltd Taylor Marilime Investments Ltd Taylor Maritim¢ Investsnents Ltd 3110512023 3010812023 2411112023 2910212024 642.61 630.38 635.08 628.99 24000 TB Guinness GBL Eq Inc Fa Y Inc 1110912023 67.73 25000 25000 25000 25000 50000 50000 50000 50000 25000 Tritax Eurobox Pl Tritax Eurobox PIC Tritax Eurobox PIC Ti'itax EU￿>bOX PIC Tritax Eurobox Pl¢ Tritax Eurobox PIC Trit&x Eurobox PIC Trilax Eurobox PIC Ti"itax Eurobox PIC 2310612023 23106r2023 0810912023 0810912023 1210112024 1210112024 1510312024 1510312024 0210412024 107.80 161.70 119.07 146.71 352.72 184.96 355,03 179.66 512.50 32500 52500 Ti'oy Trojan Income O Inc Troy TIDjan Income O Inc 2910912023 2810312024 614.90 1.688.19 35000 35000 62500 62500 Twentyrour Income Fund Red Twentyfoui. Income Fund Red Twentyfour Income Fund Red Twentyfour Income Fund Red 0310512023 0410812023 0311 Ir2023 02102r2024 1,561.00 700.00 1,250,00 1,250.00 37500 70000 60000 UK Treasury UK Tirasury 4.2511/ty UK Treasury 4.251/J o 07109r2023 0711212023 07103r2024 937.50 1,487.50 1.500.00 27500 27500 27500 27500 27500 27500 VH Gbl Sust8in2ble Energy Opp VH Gbl Suslatnable Energy Opp VH Gbl Sustainable Enei"gy Opp VH Gbl Sustainable Energy Opp VH Gbl Suslalfiable Eiiei-8y Opp VH Gbl Sustainable En¢i'gy Opp 3010612023 14109r2023 0811212023 0811212023 2810312024 2810312024 379.50 379.50 96.25 283.25 134.75 255.75 19 TRUSTEES OF THE MARGARET WESTWOOD MEMORIAL CHARITY SCHEDULE VESTMENT INCOME CONVD vo THE YEAR ENDED S APRIL 2024 FOR THE PLRIOb Dl.:b 5 AI.RIL 2024 Holdin Investmenf Income Da(e Dividend 24000 24000 WS Guinness GBL Eq Inc Fd Y Inc WS Guinness GBL Eq Inc Fd Y Inc 3011 Ir2023 2910212024 163.23 139.48 Tolal permanent ¢ndowm¢Mt fund 31,653.74 Accumulated Income Fund 5000 31 Infrastructure plc 10107n023 278.75 20000 20000 Aberdeen World Eqty Income FD Inc Abel'deen World Eqty Income FD Inc 28104r2023 2810412023 100.30 32.86 32000 Digital 9 Infrastru¢ture PIC 30106r2023 480,00 11250 11250 11250 11250 HICL Infrasiructure PIC HICL Infrastructure PIC HICL InfrastN¢ture PIC HICL Infitsliucture PIC 30106r2023 30106r2023 2910912023 29/09r2023 158.36 74.52 227.12 12835 12835 Invesco Select Tn￿1 Inv¢sco Select Trust 16105r2023 1510812023 327.29 205.36 2500 2500 mU￿Y Inc Trust plc Murray Inc Trust pl¢ 15106Q023 1410912023 206,25 318.75 15000 15000 SDCL Energy Efficiency Inc Trnst SDCL Energy Elliciency In¢ Trust 30106r2023 2910912023 225.00 234.00 25000 25000 25000 25000 Ti'itax Eurobox Plc Trilax Eurobox PIC Tritax Eurobox PIC Tritax Eurol)ox PIC 2310612023 2310612023 0810912023 08109r2023 107.80 161.70 119.07 146.71 20000 Troy Trojan Income O Inc 29109r2023 378.40 27500 27500 Twenlyfour Income Fund Red Twentyfour Incoine Fund Red 0310512023 0410812023 1226.50 550.00 35000 UK Treasury 07109r2023 875.00 Total Accumulated incom¢ fund 6.438.38 Total investmenl inronie 38,092.12 20 TRUSTEES OF THE MARGARET WESTWOOD MF.MORIAL CHARITY SCHEDULE OF INVII STMENT INCOME CONT'D FOR TIIC YEAR ENDED 5 APRIL 2024 "trOR fHL PEiÉlOD"Et*DED S APRIL 2024 Holdin ert Income ate Divi Pemjanent Elldowment Fund 40000 40000 40000 40000 40000 40000 40000 40000 Primary Health Pi'opeities Primary Health prop￿￿] Primary Health Properties Piimary Health Properties Prirnary Health Properties PriM￿Y Health Properties 1910512023 J9105r2023 1810812023 I W0812023 241I112023 2411112023 2310212024 2310212024 536.00 134.00 536.00 134.00 536.00 134.00 580.00 110.00 15000 15000 25000 Tritax Big Box Reit Pl¢ Tritax Big Box Reil PIC Tritax Big Box Reit PIC 0110612023 3110812023 1711112023 262.50 262,50 437.50 Total permanent endowment fund 3,662.50 Accumulated Income Fund 20000 20000 20000 20000 20000 20000 Primary Health Propei'ties Piimary Health Properties Primary Health PiY)perties Primary Health PiM)perties Primary Health Pi'opeities Imary Health Pl￿PertIeS 19105r2023 1910512023 18108r2023 1810812023 2411112023 2411112023 268.00 67.00 268.00 67.00 268.00 67.00 ioooo i 0000 Tri18x Big Box Reit PIC Tritsx Big Box Reit PIC OJ10612023 31108r2023 175.00 175,00 Total accumulated Ineom¢ fund 1,35S.00 Total property income 5,017.50 21 TRUSTEES OF THE MARGARET WESTWOOD MEMORIAL CHARITY SCHEDULE OF GRANTS AWARDED FOR THE YEAR ENDED 5 APRIL 2024 FOR THE PERIOD ENDEf* S &iPRKL"21,2 li¢alion eci released Amount 2023114 Joseph Humphr¢ys 1010712023 2023115 Gii'lguiding Worcestershire Association 1010712023 2023116 Howley Gi7nge Scouts 1010712023 2023117 Wollescots Hall Bowls Club 1010712023 2023118 Zak Pickford 1010712023 2023119 Finn Pi¢kford 1010712023 2023120 Monty JRmes 1010712023 2023121 Austin Beniiett 1010712023 2023122 Cons¢an¢e Bennett 1010712023 2023123 William Elias Battle-Wel¢h 1010712023 2023r24 Jacob Lee 1010712023 2023125 Chloe Edwards 1010712023 2023r26 Rowan Kas¢h 1010712023 2023127 F12zer Allen 1010712023 2023r29 William thniel 1010712023 2023130 Sebastian St Vincent-Pickard 1010712023 2023131 Benjamin Treston 1010712023 2023132 As1wood Bank Swunts and Guides Assoc. 1010712023 2023133 George Brooks 1010712023 2023134 Archie Kinsey 10107t2023 2023135 Naon)i Finn 10107r2023 2023136 Ellis W Finn 1010712023 2023137 Estelle Stanley 1010712023 2023138 Felirity Stanley 1010712023 2023139 Gabriel Wilks 1010712023 2023140 John Booth 1010712023 2023141 FrallCes￿ Walker 1010712023 2023142 Charlie Adams 2510712023 2023128 The Odell Trusl 2311112023 2023143 Amelia Dallimoit 2311112023 2023144 Katt'ina Woolmer 2311112023 2023145 Rohan Fellowes-Day 2311112023 2023146 Hasnain Ahmed 2311 Ir2023 2023147 Penelop¢ Yell 2311112023 2(J23148 Zoe Yardley 2311112023 2023150 Elliot Bishop 2311112023 2023151 GR¢e Kelly Childhood Cancer Ti'ust 2311 Ir2023 2023152 Aimee Winters 2311112023 2023153 Oliver Walkins 2311 Ir2023 2023154 Jessica Slirling-Hart 2311 If2023 2023155 Kaitlyn Tiffany 2311 If2023 2023156 Robin Lamb 2311112023 2023157 Gethin Walpole 2311112023 2023159 William Jackson 2311112023 2023160 Natasha Lee 2311112023 2023158 Heniy D¢w 2311112023 300.00 1,000.00 5,000.00 400,00 250.00 250.00 250.00 250.00 250.00 250.00 250,00 250.00 250.00 250.00 250.00 250, 250.00 5,000.00 250.00 250.00 250.00 250.00 250.00 250.00 250. 200.00 250.00 250.00 5,000.00 250.00 250.00 250.00 500.00 300,00 250.00 300.00 .350.00 300.00 300.00 300.00 250.00 250.00 250.00 300.00 300.00 250.00 Totsl zraDts issued 28,350.00 22 TRUSTEES OF THE MARGAREI T WLSTWOOD MEMORIAL CHARITY SCHEDULE OF CRANTS AWARDED FOR THE YEAR ENDLD 5 APRIL 2024 FOR THE P£k41Gb E.YL:.ED S ￿[lIL 2024 ate i'eleas¢d A lication Reci lent 2024ffj5 J¢ssi¢a Cox 2024102 Toby Johnson 2024103 Stsphanie Jaye 2024m4 lssabelle Burrows 2024m5 Lucy Rushton 2024106 WorcestershiiE Parent & Carers 2024107 Lewis Morris 2024109 Harry Robinson 2024110 Jack Robiilson 2024111 Milly Robinson 2024112 Georgia Rog¢r5 2024113 Scarlett Pear50n 300.00 250.00 i 00.00 250.00 300.00 1,000.00 250.00 250.00 250.00 250.00 250.00 300.00 Tot#1 grants issiied 32 100.00