Charity number: 516954
THE GEORGE WARD CHARITABLE TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

THE GEORGE WARD CHARITABLE TRUST
CONTENTS
Page
Reference and Adminlstrative Details of the Charity, its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
9-16
The following pages do not form part of the statutory financial statements.
Schedule of investments
17-23

THE GEORGE WARD CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees
S D Major
l Daniels
Charity registered number
516954
Principal office
Century House, The Lakes, Northampton, NN4 7HD
Independent Examiner
J E Cashmore, Chartered Accountant, The Hayloft, Cropwell Road, Radcliffe-on-Trent, Nottingham, NG12 2JJ
Accountants
MHA, Century House, The Lakes, Northampton, NN4 7HD
Bankers
HSBC Plc, 10 Market Place, Hinckley, Leicestershire, LE10 1 NU
Investment Management
Brewin Dolphin Securities Ltd, 12 Smithfield Street, London, EC1A 9BD
Page 1

THE GEORGE WARD CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present their annual report together with the financial ststements for the 6 April 2023 to 5 April
2Q24.
a. OBJECTS
The objects of the Charity are:_
(a) to relieve povety amongst persons in need of assistsnce who were employed by George Ward Holdings
Limited {formerly called George Ward {Barwell) Limited) and Ward White UK Fo0￿ear Limited (originally called
George Geary Limited) for a period of at least 3 consecutive months be￿een 1 November 1941 and 31 January
1984 or persons who are wives, widows, husbands, widowers, children or other dependants of such employees.
(b) to provide for such other charitable purposes as the Trustees may determine.
Achievements and performance
a. REVIEW OF ACTIVITIES
During the year ended 5 April 2024, no distributions were made to ex*mployees. This compares with £nil
distributed to ex-employees in the previous year.
Donations totalling £31,950 to 23 organisations were made in 202312024 ft)r charitable purposes in the Hinckley
and Bosworth Borough Council area. This compares with donations of £23,800 to 21 organisations in the
previous year.
Investment income for the year amounted to £40,589 (2023 - £39,827).
During the year ended 5 April 2024. investment losses of £4,609 were realised. Unrealised gains amounted to
£100,144 and these are included in the increase in the market value of the investments held at 5 April 2024
compared with their market value at 5 April 2023.
The balance of unrestricted funds at 5 April 2024 amounted to £1,467,783 with increase of £85,248 on the
previous year.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and
and setting the grant making policy for the year.
New Trustees are appointed in accordance with the trust deed based on the skills and knowledge required.
b. INVESTMENT POLICY AND PERFORMANCE
The Trustees apply the capital and income of the Trust Fund in such shares and proportions as they think fit
consistent with and for the purposes of carrying out the objects of the Charity. These unrestricted funds comprise
investments derived solely from an expendable endowment and the Trust is therefore dependent on the growth
of the fund and the investment income generated to fund its continuing activities. The Trustees have continued
to obtain regular advice from a fi'rm of stockbrokers with regard to investment strategy. The Trustees consult with
Committee members at regular intervals and consider their recommendations.
Page 2

THE GEORGE WARD CHARITABLE TRUST
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 5 APRIL 2024
Financial review
a. GOING CONCERN
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
con￿rn basis can be found in the Accounting Policies.
b. RISK MANAGEMENT OBJECTIVES AND POLICIES
The Trustees have assessed the major risks to which the charity may be exposed, in particular those related to
the operations and finances of the Trust, and are satisfied that systems are in place to mitigate exposure to the
major risks.
c. RESERVES POLICY
The Trustees consider any balance remaining out of realised investment income each year to be available for
distribution but do not, as a matter of policy, treat the expendable endowment as distributable.
The Trustees regularly review the manner in which the balance of the income fund may be applied in accordance
with the objects of the Charity.
Structure, governance and management
a. CONSTITUTION
The charity is constituted as a Charitable Trust by a deed dated 7 October 1985.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Charity is administered by a Committee, presently comprising'.-
Chairman
l Daniels
Twstees
l Daniels, S D Major
other Members
C Orton, R Clark, M Faulks, L Davey, A D Herbert,
P Gohil, M Goodwin, M Pickering
The Secretary to the Charity is S E Hiom.
Page 3

THE GEORGE WARD CHARITABLE TRUST
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 5 APRIL 2024
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements 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 reSoUr￿S of the charity for that period. In preparing these financial statements, the
Trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent",
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 proper 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 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.
This report was approved by the Trustees, on 31 January 2025 and signed on their behalf by:
Sarah Major
Trustee
Page 4

THE GEORGE WARD CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GEORGE WARD CHARITABLE
TRUST (the 'eharity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the charity'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(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and
Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in
preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April
2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can 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 kept in respect of the charity as required by section 130 of the 2011 Act; or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 31 January 2025
J E Cashmore Chartered Accountant
The Hayloft, Cropwell Road, Radcliffe-on-Trent
Nottingham, NG12 2JJ
Page 5

THE GEORGE WARD CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporatrng Income and Expenditure Account
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
INCOME FROM:
Investments
40,589
40,589
39,827
TOTAL INCOME
40.589
40,589
39,827
EXPENDITURE ON:
Investment management costs
Charitable activities
3,S79
47.297
3,579
47.297
6,045
37,963
TOTAL EXPENDITURE
50,876
50,876
44,008
NET EXPENDITURE BEFORE INVESTMENT LOSSES
Net losses on investments
(10.287)
{4,609)
{10,287}
(4,609)
(4,181)
(5,274)
NET EXPENDITURE BEFORE OTHER RECOGNISED
GAINS AND LOSSES
(14,896)
100.144
(14,896)
100,144
(9,455)
(98,918)
Gainsl{losses) on revaluations of fixed assets
NET MOVEMENT IN FUNDS
85,248
85,248
(108,373)
RECONCILIATION OF FUNDS:
Total funds brought forward
1,400,127
1,400,127
1,508,500
1,485,375
1,485,375
TOTAL FUNDS CARRIED FORWARD
1,400,127
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 6

THE GEORGE WARD CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Note
FIXED ASSETS
Investments
1,467,783
1,333,560
CURRENT ASSETS
Cash at bank and in hand
21,792
73,007
CREDITORS: amounts falling due within
one year
(4,200)
{6,440)
NET CURRENT ASSETS
17,592
66,567
NET ASSETS
1,485,375
1,400,127
CHARITY FUNDS
Unrestricted funds
1,485.375
1,400,127
TOTAL FUNDS
1,485,375
1,400,127
The financial statements were approved by the Trustees on 31 January 2025 and signed on their behalf, by..
Sarah Major
Trustee
The notes on pages 9 to 16 form part of these financial statements.
Page 7

THE GEORGE WARD CHARITABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 5 APRIL 2024
2024
2023
Note
Cash flows from operating activities
Net cash used in operating activities
(53,116)
(43,628)
Cash flows from Investing activities:
Dividends and interest from investments
Proceeds from sale of investments
Purchase of investments
40,589
154.394
(193.082)
39,827
153,800
(106,694)
Net cash provided by investing activities
1,901
86,933
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
(51,215)
73.007
43,305
29,702
Cash and cash equivalents carried forward
12
21,792
73,007
The notes on pages g to 16 fonm part of these financial statements.
Page 8

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities:
Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charits'es Act 2011.
Under FRS 102 the assets and liabilties are initially recognised at historical cost or transaction value
unless otherwise stated in the relevant accounting policy.
The George Ward Charitable Trust constitutes a public benefit entity as defined by FRS 102.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
1.3 Income
All income is recognised On￿ the charity has entitlement to the income, it is probable that the
income will be re￿iVed and the amount of income receivable can be measured reliably.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure 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 each activity. Direct costs attributable to a single
activity are allocated directly to that activity- Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned befween those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise funds.
Charitable activities and Govemance costs are costs incurred on the charity's educational
operations, including support costs and costs relating to the governance of the charity apportioned to
charitable activities.
All expenditure is inclusive of irrecoverable VAT.
Page 9

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
ACCOUNTING POLICIES (CONTINUED)
1.5 Golng concern
The financial statements have been prepared on a going con￿rn basis. The Trustees have
considered relevant information, including the annual budget, forecast future cash flows.
The Trustees have not identified any further material uncertainties that may cast significant doubt
about the ability of the Charity to continue as a going concern. The charity's business activities,
together with the factors likely to affect its future development, performance and position, its cash
flows and liquidity position have been assessed. The charity has sufficient financial resources.
Based on these assessments and having regard to the resources available to the charity, the
Trustees have concluded that there is no material uncertainty and that they can continue to adopt the
going concern basis in preparing the annual report and accounts.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction value and subsequently measured at their fair value as at the Balance Sheet date using
the closing quoted market pri￿. The Statement of financial activities includes the net gains and
losses arising on revaluation and disposals throughout the year.
1.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount Can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank.
1.8 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the
charity anticipates it will pay to settle the debt or the amount it has received as advanced payments
for the goods or services it must provide. Provisions are measured at the best estimate of the
amounts required to settle the obligation. Where the effect of the time value of money is material,
the provision is based on the present value of those amounts, discounted at the pre-tax discount
rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within
interest payable and similar charges.
Page 10

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
INVESTMENT INCOME
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment income - listed investments
40,589
40,589
39,827
Total 2023
39,827
39,827
DIRECT COSTS
Donations to organisations for charitable purposes within the Hinkley & Bosworth Borough Council area
made under Clause 4 (b) of the Trust Deed.
2024
2023
Accept Mature Trees
Barwell Bloomers
Bamell Indoor Bowling Club
Barwell Methodist Church
Bloodwise Hinckley
British Dyslexics
DLRAA
Earl Shilton in Bloom
Free Church Market Bosworth
George Ward Bamell Table Tennis Club
Hinckley & District Mencap Society
Hinckley & District Museum Limited
Holy Trinity Hinckley
LOROS
Mayflower Court Residence Association - Comforts Fund
Meadow Road Community Centre, Barwell
Parkinsons Disease Society - Hinckley & District Branch
ProstAid
Rainbows Children Hospice
RNIB Talking Book Service
st Marys Church Barwell
stoke Golding Garden Show
The George Ward Centre
The Royal British Legion, Barwell
The Salvation Army, Hinckley Branch
Tiny Tim's Childrens Centre
Tom Eatough Court Trust - Comforts Fund
VISTA - Social group
1,000
400
3,250
1,000
(750)
1,500
2,000
400
1,250
1,100
2,200
1,000
3,500
1,100
1,500
1,000
2,000
1,000
750
1,000
2,000
2,000
1,100
2,200
500
1,500
1,000
2,000
500
1,000
750
1,000
2,000
1,000
750
750
1,000
1,000
1,000
2,000
1,000
750
1,500
750
500
Total
31,950
23,800
Page11

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
SUPPORT COSTS
Unrestrlcted
funds
Total
2024
Total
2023
Committee members expenses
Independent examiners fee
Accountancy and general administration fees
Data protection register fee
Bank charges
2,475
650
12,107
40
75
2.475
650
12,107
40
75
2.475
650
10,960
78
Support costs total 2024
15,347
15,347
14,163
Support costs total 2023
14,163
14,163
INDEPENDENT EXAMINATION
The Independent Examiner's remuneration amounts to £650 (2023 - £650.)
Page 12

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
FIXED ASSET INVESTMENTS
Llsted
securities
Market value
At 6 April 2023
Additions
Disposals
Net investment gain in the year
1,333,560
193,082
{154,394}
95,535
At 5 April 2024
1.467,783
CREDITORS.. Amounts falling due within one year
2024
2023
Accruals and deferred income
4.200
6,440
TAXATION
The Trust is exempt from Income and Capital Gains Tax due to its charitable status.
Page 13

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
6 April 2023
Gainsl Balance at
(Losses) 5 April 2024
Income Expenditure
Unrestricted funds
General Funds - all funds
1,400,127
40,589
(50,876
95,535
1,485.375
STATEMENT OF FUNDS- PRIOR YEAR
Balance at
6 April 2022
Gainsl Balance at 5
(Losses)
April 2023
Income Expenditure
General Funds - all funds
1,508,500
39,827
(44,008) (104,192) 1,400,127
Total of funds
1,508,500
39,827
(44,008) (104,192} 1,400,127
SUMMARY OF FUNDS- CURRENT YEAR
Balance at
6 April 2023
Gainsl Balance at
(Losses) 5 April 2024
Income Expenditure
General funds
1AOO,127
40,589
(50,876)
95,535
1,485,375
SUMMARY OF FUNDS- PRIOR YEAR
Balance at
6 April 2022
Gainsl Balance at 5
(Losses) April 2023
Income Expenditure
General funds
1,508,500
39,827
(44,008) (104,192) 1,400,127
Page 14

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
Current assets
Creditors due within one year
1,467,783
21,792
(4,200)
1.467,783
21,792
(4,200)
1,485,375
1,485,375
ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
1,333,560
73,007
(6,440)
1,333,560
73,007
(6,440)
1,400,127
1,400,127
11. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net expenditure for the year (as per Statement of Financial Activities)
(14,896)
(9,455)
Adjustment for:
Dividends and interest from investments
Gains on the sale of investments
(Decrease)lincrease in creditors
{40,589)
4,609
{2,240)
(39,827)
5,274
380
Net cash used in operatlng activlties
(53,116)
{43,628)
12. ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash in hand
21,792
73,007
Total
21,792
73,007
Page 15

THE GEORGE WARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
13. TRANSACTIONS WITH TRUSTEES
During the year Mr l Daniels a Trustee was re-imbursed expenses of £275 from the Trust. (2023: £275).
Page 16