2021-04-05-accounts - The Will Charitable Trust

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			Page
Trustees'	Annual Report - Reference and Administrative	Information
Trustees'	Annual Report		2-6
Auditors'	Report		7-9
Statement	ofFinancial Activities		10
Balance Sheet
Statement	ofCash Flows
Notes to the Financial Statements			13-20

Charity	Name	Name		The Will Charitable	The Will Charitable	The Will Charitable	Trust	Trust
				Registered Charity			No:	801682
Governing		Instrument		Deed of trust dated			20	March	1989
Trustees				Mr AJ McDonald
				Mrs VA Reburn
				Mr R Luff
				Ms J E BDyson
				Mr R Boddington		(appointed			14 December 2021)
Principal		ONce	ofthe Charity	10Queen Street Place
				London
				EC4R 1AG
Appeals	for grants are dealt with by the Grants Office,					Bridge House, 11Creek Road, East
Molesey	KT8 9BE.
Administration			&Accountancy	Haysmacintyre	LLP
				10Queen Street Place
				London
				EC4R 1AG
Auditor				Leonard Jones	&	Co
				1 Printing House Yard
				London
				E2 7PR
Solicitor				Farrer & Co
				66 Lincoln's Inn	Fields
				London
				WC2A 3LH
Banker				C. Hoare &Co.
				37 Fleet Street
				London
				EC4P 4DQ
Investment		Manager		Sarasin & Partners		LLP
				Juxon House
				100St Paul's Churchyard
				London
				EC4M 8BU
Website				www. willcharitabletrust.				org.uk

		Note		2021			2020
			Unrestricted	Designated	Expendable
			Funds f	Funds f	Endowment f	Totalf	Totalf
INCOME
Income from investments Job Retention Scheme			554,120 5,010			554,120 5,010	668,896
Total Income			559,130			559,130	668,896
EXPENDITURE ON
Raising funds - investment	management	fees
Charitable Activities:		8a			(2,819)	(2,819)	462
Grants made		10	906,000	15,000		921,000	697,800
Support costs		7&8	134,918			134,918	136,270
Total Expenditure			1,040,918	15,000	(2,819)	1,053,099	834,532
Net (expenditure)/income	before		(481,788)	(15,000)	2,819	(493,969)	(165,636)
gains and losses on investments
Other recognised gains/(losses):
Net gains/(losses) on investments		2			3,569,815	3,569,815	(2,264,735)
NET (EXPENDITURE)/INCOME			(481,788)	(15,000)	3,572,634	3,075,846	(2,430,371)
Transfer between funds			117,615		(117,615)
NET NIOYEMENTIN FUNDS			(364,173)	(15,000)	3,455,019	3,075,846	(2,430,371)
TOTAL FUNDS BROUGHT FORWARD			364,173	241,600	17,476,237	18,082,010	20,512,381
TOTAL FUNDS CARRIED	FORWARD			226,600	20,931,256	21,157,856	18,082,010

		Note	2021		2020
FIXEDASSETS
Investments				20,452,278		17,381,696
Fixtures, Fittings 8 Equipment				4,956		966
				20,457,234		17,382,662
CURRENT ASSETS
Cash at Bank and on	Deposit		784,707		725,634
Debtors			2,094
			786,801		725,634
Creditors: amounts	falling due within one year
Creditors		4	86,179		26,286
			86,179		26,286
NET CURRENT ASSETS				700,622		699,348
TOTAL NET ASSETS				21,157,856		18,082,010
THE FUNDS QF THE CHARITY
Unrestricted Funds		5				364,173
Designated Funds		5, 9		226,600		241,600
Expendable Endowment		5		20,931,256		17,476,237
				21,157,856		18,082,010

					2021	2020
				Note
Cash	used in operating activities				(434,931)	(225,662)
Capital expenditure &financial		investment:
Purchase of investments Proceeds from sale of investments					(3,580,632) 3,963,361	(2,648,479) 2,455,831
Decrease in investment portfolio		cash			116,504	193,833
Purchase oftangable fixed assets					(5,229)
					494,004	1,185
increasel(decrease) in cash at bank and on deposit					59,073	(224,477)
Cash	at bank and on deposit at	beginning		ofyear	725,634	950,111
Cash	at bank and on deposit carried forward				784,707	725,634
Note	to Statement ofCash Flows
					2021	2020
a	Reconciliation of net expenditure		to
	net cash outflow from operating		activities
	Net expenditure				(493,969)	(165,636)
	Depreciation				1,239	242
	Increase/(decrease) in creditors				59,893	(60,268)
	(Increase) in debtors				(2,094)
					(434,931)	(225,662)

2	Investment Assets	Investment Assets	Investment Assets					2021	2020
								f	E
	UK listed Overseas Cash held	investments investments as part of		at market value at market value the investment portfolio				11,927,158 8,256,370 268,750	10,849,358 6,147,084 385,254
								20,452,278	17,381,696
								2021	2020
								E	E
	Market value at 5April 2020							17,381,696	19,647,616
	Less:		Proceeds on disposals		of	investments		(3,963,361)	(2,455,831)
	Add:		Acquisitions at cost					3,580,632	2,648,479
			Gains/(losses) on sale		of	investments		435,534	(238,364)
			Net gains/(losses) on		revaluation		at 5April 2020	3,134,281	(2,026,371)
			(Decrease) in investment			portfolio cash		(116,504)	(193,833)
	Market value at 5April 2021							20,452,278	17,381,696
3	Investment		Income					2021	2020
								E	E
	UK listed investments							387,141	456,402
	Overseas	investments						166,226	208,044
	Investment		manager's	interest				404	2,316
	Other income							349	2,134
								554,120	668,896
4	Creditors:		amounts	falling due within		one year		2021	2020
								E
	Accruals							86,179	26,286
								86,179	26,286

Analysis Fund	ofBalance Sheet Net Assets by	ofBalance Sheet Net Assets by	Expendable	Designated	Unrestricted
			Endowment	Funds	Funds	Total
			E	E	E	F
Fixed assets			20,457,234			20,457,234
Current	assets		474,022	226,600	86,179	786,801
Current	liabilities				(86,179)	(86,179)
			20,931,257	226,600		21,157,856
Comparative		2020Analysis ofBalance Sheet
Net Assets by Fund
Fixed assets			17,382,662			17,382,662
Current	assets		93,983	241,600	390,051	725,634
Current	liabilities		(408)		(25,878)	(26,286)
			17,476,237	241,600	364,173	18,082,010

	expected use	ful life	on a 20%reducing balance bas	is.
	Cost
	As at 6 April	2020		6,422
	Additions in year			5,229
				11,651
	Depreciation
	As at 6 April	2020		5,456
	Charge for year			1,239
				6,695
	Net Book Value
	As at 6April	2021		4,956
	As at 5 April	2020		966
7	SupportCosts
				2021	2020
				E	E
	Staff salaries			58,315	56,730
	Employer's National		insurance	2,209	2,209
	Grants o%ce running		costs	19,768	15,058
	Pension costs			6,031	1,087
				86,323	75,084
	Governance	costs (See note 8)		48,595	61,186
				134,918	136,270

Grants made to	institutions	institutions		2021	2020
Care of People with Learning			Disabilities
Accuro				10,000	10,500
Apuldrum					15,000
Autism Wessex					13,000
Awen Cultural Trust					15,000
Bevem Trust				10,000
Bishop Creighton				20,000
Brunswick Organic Nurseries				10,000
Canterbury Oast	Trust			10,000	21,000
Diverse Abilities				10,000
Enhanceable					7,500
FACET				10,000
Father Hudson's	Care				15,000
Foresight				10,000
Henshaws					25,000
Jigsaw				10,000
Live Music Now				6,000
Martha Trust				10,000
Meath Epilespy				10,000
Milestones Trust					5,000
Minstead Trust				25,000
NANSA				10,000
Orcadia					4,000
Phoenix Project					4,000
Reading Mencap				15,000
St Elizabeth's					15,000
Southend Mencap				10,000	7,000
Spadework				20,000	13,000
SpeakUp SelfAdvocacy				10,000	10,000
Stanley Grange Community		Association		10,000
Stockdales					25,000
Style Acre				10,000	3,500
SWALLOW				10,000	8,000
Watford Mencap				10,000
Wirral Mencap					3,500
Yatley industries				20,000	5,000
Grand Total				276,000	225,000
Care ofthe Blind, Prevention			of, or Cure ofBlindness
4Sight Vision Support				10,000
Alington House Community		Association			3,000
Angel Eyes Nl				10,000	10,000
Bardet Biedl Syndrome				10,000
Barrow & Districts	Society	for the Blind		10,000
Bradbury Fields				10,000	14,000
British Blind Sport				10,000
Clear Visiion				10,000	12,500

	Grants made to Institutions	Grants made to Institutions	(con't)		2021	2020
10	Care ofthe Blind, Prevention		of, or Cure of	Blindness
	(con't)
	Coventry Resource Centre for		the Blind		10,000
	Deafblind Uk				10,000
	Deafblind Scotland				20,000	15,000
	DeafPLUS					15,000
	East Sussex Association	of Blind and Partially		Sighted		4,500
	People
	IMPACT UK				10,000	20,000
	Living Paintings				10,000
	MACS				10,000
	My Sight York					3,800
	New College Worcester				20,000
	Nystagmus Network					5,000
	Retina UK				10,000	15,000
	Royal National College for the		Blind		15,000
	SeeAbility					15,000
	Sight for Surrey				5,000
	Sight Concern Worcestershire					10,000
	Sightsavers					25,000
	Sight Support Derbyshire				10,000
	Southend in Sight				15,000	7,000
	StJohn ofJerusalem				10,000
	Vista				5,000	16,000
	Vision North Somerset					5,000
	Walthew House				10,000
	West of England School	for the Blind (WESC)			10,000	15,000
	Wirral Society of Blind and Partially Sighted				10,000
	Grand Total				260,000	210,800
	Care ofCancer Patients
	Ayrshire Cancer Support				5,000
	Beaumond House Hospice				10,000
	Bloodwise					10,000
	Bowel Cancer UK				10,000
	Breast Cancer Haven				10,000
	Cancer Focus Northern	Ireland			10,000	15,000
	Cancer United				10,000
	Cavendish Cancer Care				5,000
	Cancer United					16,000
	Childhood Cancer Trust				10,000
	Citizens Advice Mid Mercia					19,000
	CLIC Sargent				10,000	10,000
	Comwall Hospice Care					17,500
	Dorothy House Hospice				10,000
	East Cheshire Hospice				15,000
	Ellenor				10,000
	Ellen MacArthur Trust					4,500
	Force Cancer Charity				5,000

Grants made to Institutions
Care ofCancer Patients (con't)
Hannah's Holiday Home Appeal		4,500
Hospiscare	10,000
Hull Churches Home from Hospital Service		15,000
Involve Kent		4,500
Jo's Cervical Cancer Trust	10,000
Lewis Foundation		3,000
Look Good Feel Better		9,500
Longfield	10,000
Momentum	10,000
Mullberry Centre	10,000
Norfolk Hospice	20,000
Orchid Cancer Appeal	10,000
Pancreatic Cancer UK	10,000
Paul's Cancer Support	10,000
Penny Brohn UK	10,000	12,500
Price ofWales Hospice	10,000	12,500
Rennie Grove Hospice Care	10,000
Rotherham Hospice	10,000
Roy Castle Lung Cancer Foundation	10,000	7,000
Royal Trinity Hospice		4,500
Sarcoma UK	10,000
St Giles Hospice	10,000
St Luke's Hospice (Basildon)		15,000
St Luke's Hospice (Brent & Harrow)	10,000
St Oswald's Hospice (Newcastle)	10,000	12,000
St Peter &StJames Hospice	10,000
Target Ovarian Cancer	10,000
Wakefield Hospice	10,000
We Hear You (WHY)	10,000
Wessex Cancer Trust	20,000	4,000
Grand Total	370,000	196,000
Total
	906,000	631,800
Exceptional Grants Fund
Dementia UK		66,000
Jigsaw	15,000
	15,000	66,000
Grand Total	921,000	697,800

Comparative Statement of Financial	Unrestricted	Designated	Expendable	Total
Activities - as restated
	Funds	Funds	Endowment	2019
	f E		E	E
INCOME
Income from investments	668,896			668,896
Total Income	668,896			668,896
EXPENDITURE ON
Raising funds			462	462
Charitable Activities
Grants made	631,800	66,000		697,800
Support costs (including
governance costs)	136,270			136,270
Total Expenditure	768,070	66,000	462	834,532
Net (expenditure) before	(99,174)	(66,000)	(462)	(165,636)
gains and losses on investments
Other recognised gains/(losses):
Net losses on investments			(2,264,735)	(2,264,735)
NE/(EXPENDITURE)RNCOME	(99,174)	(66,000)	(2,265,197)	(2,430,371)
Transfer between funds
NET MOVEMENT IN FUNDS	(99,174)	(66,000)	(2,265,197)	(2,430,371)
TOTAL FUNDS BROUGHT FORWARD	463,347	307,600	19,741,434	20,512,381
TOTAL FUNDS CARRIED FORWARD	364,173	241,600	17,476,237	18,082,010