REGISTERED CHARrrY NUMBER: 0533 TrusteeB' Report and Unaudltod Flnanelal Stst8m8nts for the Year Ended 5 ApTS12023 LIONEL WIGRAM MEMORIAL TRUST Cooper Parry New Derwent House 69-73 Tkeobalds Road Lon(kJn WC1X 8TA
LIONELWIGRAM MEMORIAL TRUST Contènts of th¢ Financlal Ststements for the year ended S April 2023 Page Tru$t•¢8' Report 1 to 2 Independent Examlnofs Rgport Statement of Flnanclal AetlvW•$ Balan She Notes to the Flnanclal Stat•m•nts 8 to 10 Detail•tl Staternent of Financial Actlvltle8 11
UONEL WIGRAM MEhK)RIAL TRUST Trustees. Report forthe year •nd•d 5 April 2023 The trustees present their report wlh the financkil statements of the Charity I( the year ended 5 ri12023. The trustees have adopted the provisions ol the Statement ol Recommgnded Practice ISORPI 'Acc¥)unb'ng Reportin9 by Chantie5' issued in Oolober 2019. Oblectlves. actlvltl•s and publ1¢ bon¢filB The Lionel Wigram Memorial Trust Is an uninwrporaled regISted charrty (registration nurnber 8005331 constituted under a trust deed dated 11 November 1988 In 1988 the charity reiVed a permanent endowment wn$i$ling primari of freehold property. The prircipal objecl ol the charity is to apply the Income of the trust fund lo such charities for such charitable purp05e5 as the trustees from time to lime in their ab501ute discretion determine, but the trustees have parti¢ul8r regard to woiects which wll commemorate the life ol Major Lionel Wigram Wr was killed in action in Italy in The trustees confitm that they have complied wth the duty In seecion 17151 ol the Charities Act 2011 to have due regard lo public benefit guidance published by the Charity Commission when reviewng the charty's aim$ and objectives and in planning fijture activrties and setting the grant making policy for the yèar Grant making pollcles The charity achieves its objethvès by rnaking grants. The trustees review aFvli¢ab"ons received for funding and use tkeir discretion to determine which Charities wll benefit from the income generated by the Trust The tru51ees especially support chairtie5 In the coping with illness and disa"lleS ssdor, and they also provide funds to supp)rt a wde range ol community projelts lor the benefit of the dlsadvanlaged. How our grant programme dellvered puLrflc bèn•flt: a rèvièw of achievements The Investment property generated rental Income of £88.01712022.. £74.3661 which is US principal to fund grants lo various deserving charitable bodies 8nd to cover the support and governance costs of the charty. During the year the charity made 13 grants to charitable instilution512022.' 12 grantsl totalliNJ £1,716 12022". £2161 representing 1.95% 12022.. 0.3/ts1 ol rental intxrne re1ved. The charities benefrting fiorn the Trust'5 grants are set oui in detail in note 4 to the financi81 statement& Materlal Investments polley The piincipal source of revenue in the year was from thè iftvestrnent in student accornrnodaiion in Newcastle1£76,1051. Some income was also tsrived fr(xn the Investment in Mayfair Caprtal 1£11,9121, Is a prortY investfflenl (Y>rnp8ny exdugvely available to chantses and as such enjoys a favourable tax status. ResÈrvè$ policy Unrestricted respJve5 at 5 April 2023 stood at £117.101 in surplus 12022.. £82.*71. The trustees will endeavour to (x)ntinue achieving a surplus on unreslrided lundB during the year ending 5 Apn'l 2024. Rlsk management The trustees of the charity have assessèd the major risks to wh'th the charity is exposed. in pa"cUlar those inherent in the erShiP of treehold prrtY and 8re satisfi'ed that systems are in place to mrtigate the exposure to th)5e risks. The charity p18ns to wntinue to make grants to deserving causes during the forthccyning year. Structure, governane• marNqgement The trustees who seNed during the year and Sin the year end are set wt on page 2. The power of appointing and removing trustees is vested in the settlor of the Trust. Mr A F Wigram, btho is also a truste&. Nèw trustees are to be appointed by resolution and a memorandurn of appointment signed by two other persons. The tru5tee5 are a¥Vdre of their responsibilities in 13w an(J keep abreast ol legal and regulatory changes The tiustee5 meet at leasl owe a year with one ol meetings dtrvoted to reviewiro giant applications. The day to day administratKJn of ¢h8rty * ddegated to R Rushton. Neither the trustees nor R Rushton receive any rernuneration. Reference and admlnistrative detsil Reglsterad Ch•rfty number 800533 Page 1
LIONEL WIGRAM MEMORIAL TRUST Trust889' R•port for tht year ended 5 April 2023 Prlnclpal addrtss Highfield House 4 WrIfall Street London SW3 4DJ Trustees A Wigram Mrs S A Wigram Iresigned 1&1Y20221 Mrs T PemiTr (resigned 15112120221 R Rushton (appointed 191212022. resnj 04104120241 w19rn lappc>inted 1511Y2022, resigned 041(M12(Y241 C Cordle (appointed 04104120241 L Sangster (appointed 04104120241 Independent Examlner Jonathan Mougmon Cooper Parry New Detwènt Hwse fj73 Thtrobakls Road London WC1X 8TA Sollcltors Ince. Adgate Tower, 2 Leman Street. London. E1 8QN Aeeountants Cooper P8ry Advisory Limrted, New Dorweni Housa, 673 Theobalds Road. London, WC1X 8TA Approved by ¢ydw ofthé bjard oftrustees on. . ....... and sKJned on its behalf ty". A Wgram- Trustee Page 2
Independent Examinerfs Report to theTrustoos of Lionel Wlgram MeMOal Trust IrKlependent examln•V$ report to the trustees of Llonèl Wigram Memorfal Trust I report to the charity trustees on my examination of the aunt$ ol Lionel Wigram me[nla1 Trust (the Trustl for the year ended 5 April 2023. Responslbllltles and ba$ls of report As the charrty trusiee5 of the Trust you are responsible fly the preparation of the aCntS in accordan wth the requirernents of the Charities Acl 20111'lhe Act). I report In resp1 of my examinth.on of the Trust's a¢xounis carried oui under Section 145 of the Act ancj in carrying Olrt my examination I have followed all applicable Directions given by the Charity Cornrnission under Section 1445llbl of the Independent txamine9 statement I havè cornpleled my examination. I firrn that no rnaterial matters h8ve come to my attention in connethon with the examlnation giwng me causeto belpve that in any mal&ial resped ac(x)ullting records were not kept in re5pecl ol the Trust as required by 8tion 130 of the Ac(" or the accounts do not acc(xd with those records". the accounts do not o)mply wth the applicable requirements Conrning the form 8r wntent ol accounts set out in the Charities (Accojnts aThJ Reports) Regulations 2008 other than 8ny requiiernent that the xcounts give 8 true and fair view which is not a rnatter considered as part of an indepencsent examination. I have no cOnrnS and have come across no other matters o)nnection wth the e*aminthon lo which attention should be drawn in thLS fftF)Ort in ryder to enae a proper understanding of the accounts to be reach&Y. Jonath oughlon Cooper Parry New Derw8nt House 69-73 Theobalds Road London WC1X 8TA Date.. Page 3
LM)NEL WIGRAM MEMORIAL TRUST Stat8m•nt of Financial A¢VItIeS for the y•ar ended S Aprll 2023 2023 Total lund$ 2022 T¢)tsl funds Unrestrlettd Endowment fund fund Notes Incom• and endowmentg from Investment income 88,017 88,017 74,366 Expendlturg on Raising funds 52.167 51,167 36,445 Charttable aellviti•s Grants payable 1,716 1.716 216 Total 53 683 36,661 Net gainslllossesl on irwe5trnents ,178 25 791 NET INCOMEIIEXPENDITURE) 34,134 156.1781 122,0441 Reconclllation of funds Total funds br()ught fward 961,818 1.044.785 981,289 Totsl funds carried for4vard 117 101 905.640 1022 741 The notes forrn part ofthese finanoal statements P8ge 4
LIONEL WIGRAM MEMORIAL TRUST Balance Sheet S Aprll 2023 2023 Total funds 2022 Total funds Unr•strlct•d Endobwnent fund fund Flxed assets Tangible assets Investrnenls 8e3.666 221,034 663,$66 221.034 663,666 277.212 884,7(M) 884,700 940.878 Current a8S•ts Debtors Cash al bank 14.403 14,403 127.188 14,761 91.444 20,940 120,651 20,940 141,591 106,205 Credftor$ Amount5 falling due within one year 13.5501 13,55Ql 12,2981 N•t current assets 117 101 20,940 136.041 103,907 Total a¥¥ets les5 current Ilabllltl 117.101 s,e40 1,022,741 1,044,785 NET ASSETS 117 101 1022 741 1044 785 Funds Unrestrided funds Endowment funds 10 117,101 5640 82,967 961,818 Total fund$ 1,022 741 1,044,785 The finanaal statnentS *ere approved by the Board of Trtee5 and athhorised for Issue on . and were signed on ils behalf by.. A Mfigram- Trustee The notes fomi part ol these finan¢ial stalemerts Page 5
UONELWIGRAM MEMORIAL TRUST Notes to the Flnan¢lal Statements for the y•aT ènded S April 2023 A¢¢ountlng polleleg Basls of preparfng the flnanclal statements Lionel Wigram Memorial Trust Is an unirTrrA>rporated regislered charity in Eng18nd. In the event of the charty belng wound up, the lia"lty in SperA of the guarantee is limited to £1 pei member of the charity. The addres5 of the registered Offi is given In the charity inlom)alion on pag8 2 of these finaroial statements. The nature of the charity's operations and principal activities are to apY ItOrne of the trust fvnd to charih'es for charitable purposes. The ch8rty constitutes a public nefrt entity as defined by FRS 102. Thg fin8nci81 statents have teen prepared in accordan th Ac£oUntng and Reporting by Charilles". S1ent of Recommended Practi applicable to chities prep8ring ttr1r accounts in acctsrdan wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 las updated through Updatg Bulletin 1 published on 2 February 20161, the Financ4al Reporting StaTr3ard applicable In the United .gd(In and RepU¢C of Ireland IFRS 1021. the Charities Act 2011, and UK Generally Aeltsd Accounling PractKe. The tharily has applied UFKJate Bulleb"n 1 as published on 2 February 2016 and (Soes not include a cash flow ststernenl on the grounds that tt Is applying FRS 102 Section 1A. The financial statements we prepared on a going conTrtn b8sis under the historical cost convention. modified to indude cert8in rtern5 at lair value. The fin8nial 5taternents are presented in sterlin9 which Is the fuwlional currercy of the charity and roundèd lo the nearest £1. The significant accounting pOrleS applied in the preparation ol these financial st8tern8nts are set oui below. These policies have been consistentyy applied to all years wesented unless otheTwise stated. Incomlng resourees All income 15 recDgnised On the charity has entitlement to the income, it is wobabl8 that the incCe wll be re¢eived aThY the amount of irume T¢1Vable can be measured reliabty Rents receivable represents incorne generated to support the tharily's activities from property assets ld under opering leases which are recognised in the Statement ol Finanaèl Athvrtie5 on a straight line basis over the lease term. Al itKomirKJ resourS are recognised gross of related expenditure. No incoming resource$ have been deferred. RQur¢ ¥xpended AJI expenditure is accounted lor In the Stement of Financial Activities on all wuals ba95 and has been induded under headings that aggrege al costs relating to that ¢alewry. ReSoUrS include attributabk VAT which cannot be rec()vered. Expenditure on raising funds relates to the costs assoaated wth the rn8nageent of the property and the administration and collecbon of rental income. Cost5 of charitable activities and governan cx)st5 include grants payable which iepre5ents donations to charitable institutional todies and 8re accounted for when paid. This 1$ unless a firyn commrtrnent exists at the year-end to pay grants in future p10d$ in whid) grants payable are acuued in full. Grants offered sut4.ed lo conditions ¥fyhi¢h have not LEen met at the year ènd are noted as a commitment, but not accrued as expendrture. Governance costs Include Ih05e L>)sts associated with m88b.ng the con3titutB)nal and statutw requirements of the charity and include the costs of the extemal 5crutiry of linaroal statements by the irxtÈp8ndenl examiner. I resources expen(Jed are in¢lusivtr of irrecoverable VAT. Grants offered subpct to conditions whith have not kten met at year end date ¥e noted as o c(Thmitrnent but not accrued 35 expendrture. Taxation Thè charity 15 exem0 from tax on ils Charrtab activities. Investment property Investment FYop¢rty carried at cost. Page 6
LIONEL WIGRAM MEMORIAL TRUST Notès to the Finala1 Statements . cOnnUed for the year ended 5 Aprll 2023 A¢eounUng F)ollcles. contSnued Fund accountlng unrestrted ILnds UnrèstriLted fund5 ccynprise general funds lch are available for ustr at the di%retion of the Trustees in furtherance of the general objectives of the Charity and whh have not been designated for other purposes. Endowment luncls The erKlowrnent fund represents those assets %thich 8re hdd Ferrnanenlly ty the Charity. prinapally the Ireehdd inveslrnent property. lrtorne arising the 8ndowTnent fund can be used in accordance wth the objects of the Charity which hav& not been design8ted lor other purposes. Investment Incomè 2023 2022 Rents received 88.017 RalsSn9 fund¥ Ral3lng donatlons and legaele8 2023 2022 Support Costs 8.930 6,059 Invegimènt management coBts 2023 2022 Service charges Ground rent Vvebsite costs Management fees Insurance Counal t8X Commission 25,924 2,999 188 4,471 1,128 7.269 1.258 21,642 5,400 3,158 43.237 30 366 Aggregate arnounts 52,1e7 ,445 Grants payabltr 2023 2022 Grants payab 1.716 216 Community projects and enhancem•nt of •dUCaan Name ol Institution 2023 Number of grants 2023 2022 Numbei of grants 2022 Dalgarno Trust £1,500 Page 7
LIONEL WIGRAM MEMORIAL TRUST Notes to Financial Statements . continued forthè yoar gnded S A wll 2023 Trust$. remuneratlon and nefitS There were no trustèes, r8munerab.on other nefItS for the year ended S April 2023 nor lor the year ended 5 April Z)22 Tru$tees' expense5 There were no trustees, exFen5es paid for the Y ended 5 Awl 2023 nor forlhe ye8r endèd 5 April 2022. Tan9ibJe fsxed #¥get¥ Property Co¥t Investment pyoperty 663.666 Net book value At 5 April 2023 At 5 4Dril 2022 663,666 Flxed asset Investmtrnts Unllsted Imièstment8 Market valuè At 6 April 2022 Revaluation 277,212 At 5 April 2023 221,034 Net book value Al 5 April 2023 221.034 At 5 April 2022 277,212 There were no inv8stm8nt assets wt5i(Je the UK Dgbtor¥.' arnounts falling due wlthln one year 2023 2022 Rent le*Vable 14,403 14.761 CredStor8: amounts falllng du• wllhln ong yr 2023 2022 Other credrtors 2298 Pe8
LIONELWIGRAM MEMORIAL TRUST Notès to the Finan¢ial Statements- contlnuod for the year ended 5 Aprll 2023 10. Movement In fund$ Not movement In funds At w22 At $14123 Unrestrfeted funds General fund 82,967 34,134 117,101 Endowrnent fundB Endowment lu 961.818 1&8.1781 5,640 TOTAL FUNDS 1,044.785 22.044 1,022,741 Net movement in funds, induded in the above are as follows.. Incomlng resources Resoure•s expentsd Galns and IoB8eB Movement In funds Unrestrieted fur¥l¥ Gen81 fund e8,017 153,8831 34,134 Endowrnent funds Endownent fund 156.1781 156,1781 TOTAL FUNDS 88.017 53.8831 56,178 Comparatlvtrs for movemert In funds Net movement in funds At fJ4121 Al Y4122 Unrestrlct•d fundJ Gerra1 fund 45.262 37,705 82,967 Endowmerrt funds Endowrnent fund 936,027 25,791 961,818 TOTAL FUNDS 981,289 63,496 1.044.785 Comparative movement in funds, included in the atx)ve ate 88 follows.. Incomlng re¥oLwces Resourcès expended Galn$ and losses Movement in funds UnrgStTlcted funds General fund 74,366 {38,6811 37.705 End¢)wment funds End<)wrnent fu 25.791 25,791 TOTAL FUNDS 36,861 25 791 63,496 Page 9
UONELWIGIiAM MEMORIAL TRUST Notes to the Financial Statements- contlnu•d for the year ended 5 Aprll 2023 10. Movem•nt In fund8- contlnued A current year 12 months and prior year 12 months combined p0sOn Is as fdlows.. Net movement In funds At W4121 At f44123 Unrestricted funds General fijnd 45.262 71,839 117,101 Endo¥&ment fundB EndLent fund 936.027 130,3871 905,640 TOTALFUNDS 961.289 41.452 1,022,741 A ¢urrent year 12 months and i*ior year 12 months ccfflbined net mov&nert in funds, Included in the above are 5 follows.. Incoming re8ource8 Resources expended Galns and 10$80$ Movement in funds Urirestrlcted lunds General fund 162.383 191.5441 71.839 Endovmi8nt fund¥ Endowment fvnd 130,3871 130,3871 TOTAL FUNDS 162.383 41,452 Page 10
LIONEL WIGRAM MEMORIAL TRUST Detalled Statement ol Flnanclal Actlvltle for the year ended S April 2023 2023 2022 Income and Ènd¢)wments Invejtment Income Rents received 74,366 Total Incomlng resoure•s 88,017 74,3e6 Expendlture Investment managwn•nt ¢¢)sts Service charges Ground rent Website costs Managèmgnl fees Insuran CourKil tax Commission 25,924 2,999 21,642 5,4(K) 186 3,158 4,471 1,128 7.269 43.237 Charitoble activitles Grants to inslrtuts'ons 1.718 218 Support costs Manag8men¢ ALLountancy Legal and txtsfessional fees 6.788 2,142 4,328 1.283 8,930 5,8( Flnan¢• Bank charges 450 Total resources expeNled 53,883 36,661 Net Incc4nè bèfor• gal and lossgs 34,134 37,705 Rgalised recogntsed galns and losses Reali5ed gainslllossesl on fLKed asset investments Net lexpendltumlllne¢)m• 63.4 This page does not form part of the statulcry fInar11 statements Page11