COMPANY REGISTRATION NUMBER: 02222950 CHARITY REGISTRATION NUMBER: 802711 The Whitlingham Charitable Trust Company Limited by Guarantee Report and Audited Financial Statements Year ended 31 March 2025 AEHIL80R 1611212025 COMPANIES HOUSE A20
The Whitlingham charitabl.e Trust Company Limited by Guarantse Report and Audited Financial Statements Year ended 31 March 2025 Pago Trustees, annual report (incorporating the direclorfs report) Audit report to the members statement of financial activities 13 Statement of financial position 14 Statement of cash Ilow 15 Notes to the financial slatements 16
The Whitlingham Charitable Trust .Company Limited by Guarantee Report and Audited Financial Statements Year ended 31 March 2025 Rèferenc• and admlnl8tratlve d•tall8 Registered charity name The Whitlingham Charitable Trust Charity registration number 802711 Company fegistration number 02222950 Prlnclpal offlce and reglstered CIO Adepta Limited office Hill Farm Kirby Road Klrby Bedon NoThiich NR14 7DU England The Trustees Mr J R Colman Mr M Falcon Mr C Penn Mr R D Hutton Mr N R Savory Mr M Bradbury Mrs T 8rown Mr D Diggens Company 8e¢rgtary Jacquellne Raywood Audltor Lovewell Blake LLP Chartered A¢countant5 & Statutory Auditor First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
The Whitlingham Charitable Trust Company Limlted by Guarantee Trustses. Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of cornpany18w, present their report and the financial statements of the charity for the year ended 31 March 2025. Structure, 9ov•rnance and management Company •tatus The Trust is a charitsble company, limited by guarantee. Every member of the company is a guarantor and undertakes to contribute to the assels of the company in the event of it being wound up with a deficit of funds, such amounts as may be required up to the limit of their guarantee. Each guarantor's liability is limited to £1. Al 31 March 2025, there were four such members". James Colman, Jake Colman, Chrislopher Penn and the Broads Aulhority. The Whitlingham ChaFilable TTUSt holds 1001 of the issued Share capital of Whillingham Trading Company Limited, a company registered in England and Wales incorporated on 14 February 2022. The principal aclivily of Whillingham Trading Company Llmited is that of operaling a café in the Flint Barn. Trust••8 The Trustees of the charitabte company durlng the year, who are dlrectors of the company for the purposes of the Companies Act 2006, were: Mr J R Colman Mr M Falcon Mr C Penn Mr R D Hutton Mr N R Savory Mr M Bfadbury Mrs T Brown Mrs A Crotty Mr O Dig9ens (resigned 4 October 2024> None of the trustees except Mf J R Colman and Mr C Penn are members of the charitsble company. The Broads Authority, as the nominating body, may appoint a number of members to the charitable company and may appoint up to four trustees. Othei Trustees are appointed by the members in a general meeting. The number of Trustees shall not be less than five bul shall not exed nine. Trustees meet regularly and are responsible for making decisions. Trustee appointments are made on the basis of nominations by members in association with the Memorandurn and Artleles of Association.
The Whitlingham Charitable Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the DIrecto8 Report) (contlnu•d) Year ended 31 March 2025 Objectlves and activitles The charitable company I'the Trust,), a registered charity and company limited by guarantee, was created to manage and maintain for the public benefit Whitlingham Country Park. near Norwich, Norfolk. The Trust was established under a Memorandum of Association and is governed by its Articles of Associats'on. The Trust was established in 1988 under the terms of an agreement between Norfolk County Council and the Arminghall Seillement (landowners) for the extraction of gravel from the site. This agreement requires the restoration and management ofthe site. post-extraction, to provide an open Place where the public can enjoy quiet, peaceful pursuits in a rural environment. The restoration of the site was the responsibility of the landowners and mineral operators. Following restoration, the land was leased to the Trust under a long-tem lease. The ori9inal Park infrastructure was specified and funded in accordance wilh planning agreements between Norfolk County Councll and the landowners. The Trust.is now responsible for the maintenance and managernent of the area as a Country Park. The Trust commenced operation in 1992 wth the handover of Trowse Wood and Meadow. The acquisition of Vvhitlingham Wood and V4lhitlingham Lle Broad followed in 1994 and 1996, respedively. Whitlingham Little Broad was opened to the public in August 1997 with Whillingham Great Broad following in 2004. Minera5 extraction and subsequent restoration have been completed on the area of land and water which fomis Imiitlingham Country Park. The Trust has developed 'the Country Park in line with successive business plans. A 24-hour mooring on the River Yare was established in 2005. The Flint 8am Visitor Centre was compleled in 2006. The Flint Barn is a focal point for visitors to the Country Part( and the Trust leased part of th6 ground floor to a Catering company lo provide café services to visitors. On the 1 April 2022 the Trust look this in house and it now operates the cafè through ils wholly owned subsidiary rAimpany the Imiitlingham Trading Company limited. Whitlingham Adventure, an outdoor educalion centre, on the edge of Whitlingham Great Broad began operatin9 in 2005, it is owned and managed by Norfolk County Council on land leased from the Trust. By a management agreement, they are also responsible for managing the water space of the tsvo Broads in the Country Park. This outdoor education complex delivers a comprehensive range of sport and adventurous activities, especially¥for young people-. Land has been leased io Vthitlingham Boathouses Foundats'on for the Conslruction by thern of a purpose-built facility for rowing and canoeing close to the river Yare. The Whitlingham Boathouses project was completed in Augusl 2015. It has provided an outstanding community facility for both rowing and CanIng and has attracted visitors to the Park. During the year under review, the Trust continued to manage the Country Park in close co-operation with ils partners, including Norfolk County Council. There is a range of access opportunities for visitors across the Country Park area with ongoing improvements to the infrastructure both underway and planned in the future. Large numbers of people contlnue to visit Whitlingh8m Caunty Park to enjoy the peaceful surroundings, with visitors having the opportunity to enjoy outside relaxation and exercise.
The Whitlingham Charitable Trust Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directorfs Report) (c¢)nrfftued) Year ended 31 March 2025 Achievements arbd performance In decKling what aclivities the charity should undertake the Trustees have kept in mind the Charity Commission's guidance on public benefit. The National Cycle Roule 1 folk)ws Vthitlingham Lane through the Pa. Also. The Imerryman's Way traverses close to the southem boundary of the Park. connecting NoMich to Great Yamoulh over a distance of 35 miles. The water areas of the Great and Little Broads provide space for re¢atIOn and education. The Park operates a Visitor Safety Policy which has been endorsed by all partner organisations within the Park. As part of ensuring safety in the Park, signage ttas been updated and is regularly checked. As noted in last yearfs Annual Report 2023124 was one ol the wettest years on record. This together with a blocka9e in a key pipe that drains the Great Broad together contributed to very high-waler levels across the tsvo Broads. Whilst immediate remedial Work has been Carried out, a lon9er-term solulion is needed. The trustees are pleased that funding has been found to enable this work to begin in 2025126. The Park provides a popular venue for events and education drawing attendances from Norwich and the wider legion. The Trustees were delighted that the Pafk was 8warded the Green F9 in July 2024 from Keep Britain Tidy. The Park hosted the East of England Open Waler Swim Championshlps. the Nop4vich Triathlon and Paint Out. The grass afeas close to the Fllnl Barn are mown to a short sward for amenity purposes, conducted fortnightty over summer monlhs. In certain sections of the Park, conservalion objectives take precedence, and public access is discouraged for the benefrt of wildlife and habitats The Picnic Meadow is mown to a conserVatn schedule and has a more natural appearance. Tree works withln the Park aTe conducled by trained staff supplemented by contractors as scale and type of work dictates in line with the adopted tree policy. Roadside tree work and essentbal thinnin9 were carried out in Whitlingham and Trowse Woods as part of the long-term managernent plan. A tree survey has Identified felling and maintenance operations in order ol priority taking into consideration health and safety problems, wildlife habitats,. historic Importance and landscape value The trustees are delighted that they were able to bring the services of our excellent management team of Graeme Hewitt and Polly King in house, with Graeme becoming our Chief Executive. This is a major step forward in fomalising the management structure and reporting lines within the Park. The Trust, through its wholly owned subsidlary company the Whitlingham Trading Company Limlted, operate the Flint Barn Café. Improvèments to both the café and to management have greatly improved the visitor experience. V¥TC's staff provide our visitors with a warm welcome and excellent food and drinks Visitor numbers have been assisted by exlIent Spring weather and the café's turnover increased to £664,000 from (2024.. £536,000) and rt contributed £40.000 in renl plus Gift Aided piofts of £60,798 to the Trust post year end. The Park's volunteers continue to make a hugely valuable contribution to the Country Park. The volunteers conts'nue to use their Irainln9 in mowing, brush cutting, tractor driving and wood chipping to assist Ihem to help maintaln the Park, independently and alongside the thanagement company. Our regular Park Volunteers gave 3,985 hours to the Park in 2024r25 and have assisted with site checks.. vegetation management., furniture repaiTS', invasive species control; litter picking, engaging with the
The Whitlingham Charitable Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 public and day to day maintenan. 1977 additional volunteer hours were provided by Corporate Volunteering. The Truslees woukl like to record Iheir appreclation of thè input made to the Park by both tts staff and its volunteers which helps lo make the park such beautiful place to visit. Under the agreement between the18ndowners and the Trust, the Trust has been endowed with a capital sum of £553,000 received by instalments, the final being received in 1999. The Trust has invested thi5 to assist in funding annual maintenance and administer the Park. Funding is required to finance the development and maintenance of new amenities and facilrties to cope with the increased number of people visiting the park The Trust relies on grants and the generation of Income from car parking for this purpose. Last year the Trust signed a new 5-year agreement with RCP Car parks and following several changes and better weather income increased to £278.000 from £239,000 in 2023124 The trustees would also like to record their appreclation of ttte following chariiles and partners who have provided funding to enable the Trust to make further progress during the year as described above.- Aviva RC Snelling Trust Reserves policy It is the intention of the Trustees that the freely available reserves of the Trusl should be buift up to. and maintained at, a level which is sufficient to ensure the continuation of the Trust's aclivities. Freely available reserves are unrestricted fvnds which are not committed to or invested in tangible fixed assets. In delermining an appropriate level of reserves Ihe Trustees have regard to a number of matters which include.. 1. Forecasts of expenditure on the basis of planned activity. In fvture years it is anticipated Ihal management and maintenance ol the Country Park is likely to increase due to age and intensity of use. 2. The requirement for day lo day worklng capltal. 3. Income risk which would include the diversity of sources of income, the reliability of income sources. prospects for developing new souices of income and an assessment on the evidence available of the likelihood of each of these varying and the potential impact on the Trust of not being able to deal with such fluctualions. 4. Analysis of future risks and contingencies which would unlikely to be met out of regular income. 5. Funds which will be required to replace fixed assets. After consideration of the above the Trustees have decided that an appropriate level of free reserves is at least iwelve mnths, normal expenditure to grow In line with planned expenditure. At 31 March 2025, group unrestricted free reserves were £696,041 which exceeds twelve months of annual unreslricted expenditure. The Fixed Asset fund of £84,179.has been designed to cover Ihe purchases and installation costs of the toilet block, tractor mower and first phase of thè signage replacement. The reserves for future capital spend sils at £27.087. This period assumes the
The Whitlingham Charitable Trust Company Limited by Guarantse Trustees, Annual Report (Incorporating the Directorfs Report) (¢ontlnued) Year ended 31 March 2025 ContInuan of granls and donations for restricted purposes expenditure whieh, if such income were to decrease, Gould result in Ihe period being muGh shorter. Inve8tm•nt Powerni pollcy & perfornianc• The charltable company's articles of association, which gives wide powers of Investment, govern the Trustees, tnvestrnent powers. The Trustees, policy Is, after receiving sultsble advice, to Invest in listed securities on the Landon Stock Exchange and since July 2016 has restricted its investment into tobacco companies and those companies that may potentially damage Ihe local areas to the Country Park as well a5 diversifying its portfolio to include investment in blue chip global equilies. The investment objectives are to maintain income at a reasonable level. whilst preserving the real value of endowed funds, and to maximise income on temporarily invested unrestricted and restricted funds. The charity's investments have continued to be managed in conformity with our policy. The income return on the average cost of investments for the year was approxlmately 4.49Qkn {2024.'4.240/0), which the Trustees consider io be sabsfactory. Flnanclal r•vi•w The balance ofthe group.endowed capital fund on 31 March 2025 of £1,066,532 represents the Capital inst21ments received of £553,000, plus the cumulative increase in the market value of the underlying investrnents of £513,532. Flnancial markets have been adversely affected by the USA'S policy to implement world-wide tariffs on imports into the USA, faltering economic data in the UK and continuing war in Ukraine and Palestine. The nel change in the market value of investments for the year was a decrease of £75,193. The Trustees, having undertaken a review in the year. now operate an ethically geared policy on its investmenls. The investment portfolio will continue to be managed lo provide long term grovAh and to maximise income wlhout undue risk. Income arising from inveslments is credited to Unrestncted Funds and arnounled £ 43,194 (2024., £39,699) The Trust is enrolled with ENTRUST as an environmental body under the Landfill Tax regulalions. The Trust has previously received grant funding which resulted in the opening ol the Flint Barn. ENTRUST regulations require its interest to.be registered, and on 31 March 2025 the restricted lunds balance was £702,398. Group unrestricted income to the general fund for the year of £1,011.889 represents invèstment income, car park income. calé income and unrestricted grants and donations for application to the general running and administration costs of the Trust. Unrestricted expenditure in the year of £888,125 on maintenance and management of the Park and general administration has been charged against this income. The balance of the unrestricted funds carried forward of £816,249 will be required to meet increaslng future rnaintenance and management costs. Rlsk Management The Trustees undertake a periodic review of major strategic, business and operational risks facing the charity- This is effectuated throu9h a Risk Register by which the Trustees can identify and assess each category of risk which could potentially jeopardise the business, the Trust's key objectives and the way it operates. Risks are identified and measured on their probability and irnpact or severity using a scale OY 1 to 3 to aseertain a risk tolerance level. The aim is to manage all risks to as low a tolerance level as reasonably
The Whitlingham Charitsble Trust Company Llmited by Guarantee Tru8tses' Annual Report (Incorporating the Diréetor's Report) (conllrtued) Year ended 31 March 2025 practicable by the introduction of mitlgation measures which are reviewed to ensure that the systems in place to manage the risk are robust and reasonable. At the time of the last review, the Trust has identified and considered several rlsks to be above the acceptable tolerance level. These are outlined and mitigated as follows.. The non-availabilitylloss of the V¥hltlingham Chair, members, Difectors and Company Secretary. In this event the Articles of Association govefns the procedures to be put in place for nominating new members Loss of key management Significant loss of income a5 a result of a reduction in the return on investments, lower car parking revenue and income from operating the Flint Barn café. The Trustees meel Barrait & Cooke, the Trust's investment managers. annually in addition lo receiving regular reports in order to review the Trust's investrnents. A discretionary SeiCe is in place with the Trust's investment managers allowing them to trade securities in the portfolio accordingly. The Trustees have entered a contract with RCP Parking Lirnited for the management of the car parks and an arrangement is in place to accept cashless payments. The management and Operation of the Flint 8am Café has been taken in house and is now operated by through the Whitlingham Trading Company Limited. Ineffective engagement with key partnerslstskeholders which could breakdown key relations on issues affecting the Park and result in the failure to deliver objectives, loss of income and opportunities. The Trust endeavours to maintain an open and transparent relationship with key partnerslstakeholders. Key partners such as staff from Whitllngham Advenlure allend Trust meetings in order to keep abast of ongoing issues. The death or serious injury to volunteers and contractors which could lead to loss of expertise, loss of credibility wilh the publiclstakeholders and potential legal aclion against the Trust. Health and safety procedures and policies are already in place to counter and prevent such risks from arisin9. Regular risk assessments are carried out lo ensure the safety of surroundings as well as individuals and where required hearth and safety training Is provided too. Continuous safety audits and ongoing maintenance programmes for tools and equipment also ensure minimising potential hazards. The death or serious injury to a member of the public which could result in civil or crirninal action against the Trust, potential closure of the Park, legal costs and fines, loss of redibilitylreputation with the public and also higher insurance premium5. Rigorous policies and plans are in place lo cover h*ards presented for both land and water through a Visitor Safety management plan which is also published. Furthermore, regular slte inspections of furnilure, facilities and annual tree surveys in addition to the audit and review of signage and public rescue equipment are conducted as part of the site safety system in place for the Park. Golng Concern The Trustees acknowledge uncertainty surrounding the national economy and the Trust's activities. They will continue to monitor the impact on the Trust and its financial arrangements. The Trust has been monitoring its cash flow monthky to ensure that It has sufficlent cash resources to continue to operate on a day to day basis. The Trust has prepared a budget for the year ending 31 March 2025 and has considered its medium tem financial plan for the period al least 12 Jnonths from the dale of signing the financial statements.
The Whitlingham Charitable Trust Company Llmited by Guarantee Trustee8' Annual Report (Incorporating the Director's Report) (¢ontlnwl) Year ended 31 March 2025 The Trustees view at the date of signing the financial statements is that the Trust remains viable and remains a going concern. Plans for Future Perlods The Trust remains commrtted to delivering its core purpose of providing a place of quiet enjoyment for its visitors. Over the next few years, the Trust and the landownef are looking to improve facililies within the Country Park. Key projecls being worked on are to improve the management of the water levels wilhin the park and to build a wetland. They also include the inslallalion of an array of solar panels lo provide green energy for the Trust's own use as w811 as providing visitors lo Ihe park with car electric charging points. The Trustees are all looking forward to the future with enthusiasm. Tru8t•?s' rosponslbllltles statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, pOrt and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financlal statemenls for each year which glve a true and fair view of the state of affairs of the charitable company and the Incoming resources and appllcation ol resources. inGluding the income and expenditure, for that period. In preparing Ihese financial statements. the tru$lees are iequired to: select sult8ble accounling policies and then app them consistently,. observe the melhods and principles in the applicable Chartties SORP; make judgments and accountlng estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity wlll continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain Ihe charity's transathons and disclose wtth reasonable accuracy at any lime the financial position of the charity and enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charity and hence for taking feasDnable steps for the prevention and detection of fraud and other irregularities. The trustees, annual report and the strategic report were approved on flliilzs and signed on behalf of the board Mr N Savory Trustee
The Whitlingham Charitsble Trust Company Limited by Guarantee Audit Report to the Trustees of The Whitlingham Charitable Trust Year ended 31 March 2025 Oplnlon We have audrted the financial statements of Vthitlingham Charrtable Trust (the 'parent charitable company,) and its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent company Balance Sheets, the Consolidated Statement of Cash Flows, and notes lo the financial statements. including a summary of significant accounting policies. The financial reporting framework Ihat has been applied in thelr preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally AccEpted Accounting Practice). In our opinion the financial statements.. give a true and fair. view of the state of the group's and parent charitable company's affairs as at 31 March 2025, and of the group's incoming resources and application of resources. including Its income and expenditure, for the year then ended. have been property prepared in accordan with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2008. Bas18 for opinlon We conducted our audit in accordance with Internatlon81 Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements seclion of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibililies in aeLordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audiling the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financ1 statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the group and parent charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other infomiation The other infomiation comprises the information included in the trustees, annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial slatemenls does not cover the other information and, except lo the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the
The Whitlingham Charitable Trust Company Limited by Guarantee Audit Report to the Trustses of The Whitlingham Charitable Trust Year ended 31 March 2025 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken In the course ol the audit.. the infomiatlon given in the trustees, report which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial ststements are prepared is consislent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and parent charitable company and ils environment obtained in the course of the audit, we have nol identified material misstatements in the directors. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visrted by us; or the parent charitable company's financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneratlon speclfled by18w are not made,. or we have not received all the information and explanations we require for our audil; or the trustees were not entitled to prepare the financial statements in accordance with the small cofnpanies, regime and take advantage of the small companies, exemptions in preparing the dlrectors. report and from the requirement to prepare a strategic report. Responslbllltles ol trust••s As explained more fvlly in the trustees, responsibilities slatement {set out on page 8), the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of financial statements and for belng satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the prepar8tion of financpl stalements that are free from material misstatemenL whether due to fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the group's and parent charitable company's ability to continue a5 a going concern, disclosing, as applicable, matters related to going concRm and using the going concem basis of accounting unless the trustees erther intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alterfiative but to do so. Auditor responsibilities for the audit of the financial slatements Our objectives a to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whelher due to fraud or error, and to issue an auditorfs reFQrt that 10
The Whitlingham Charitable Trust Company Limited by Guarantee Audit Report to the Trnstees of The Whitlingham Charitable Trust Year ended 31 March 2025 includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstaterrent when exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial statements. lffegularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oullined above, to detect material misstatements in respect irregularrties, including fraud. The extenl to which our procedures are capable of detecting irregularities, including fraud is detailed below: Enquiry of management and those charged with governance to confirm there are no instsnces of fraud or nonacompliance with laws and regulations. Review of disclosures wilhin the financial statements and vouching these to supportlng documentation to ensure compliance with applicable laws and regulations, Review of key accounting eslimates, to ensure reasonable and no signs of management bias. Performing audit work over the risk of management override of controls, including testing of joumal entries and other adjustments for approprialeness, evaluating the rationale of significant transactions outside the nomal course of activities and reviewing accounts eskn'mates for bias.. Because of the Inherenl limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and Iransactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding Irregularities occurring due to fraud rather than error, as fraud involves intentional conce81ment, forgery, collusion, omission or mlsrepresentatlon. A furthef description of our responsibilities is available on the Financial Reporting Council's website at.. htl .Ilwww.frc.or .uklOur-WorklAudiUAudil-and-assuran tandards-and- uid ncelst ndards- uidanc orau rslAuditors-r nsibilities-for-audiVDescri f-audi -re onsi x. This description forms part of our auditorfs report. for-a 11
The Whitlingham Charitable Trust Company Limited by Guarantee Audit Report to the Trustees of The Whitlingham Charitable Trust Year ended 31 March 2026 Use ol our report This report is made solely lo Ihe charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members and its trustees those matters we are required to slate to them in an auditors report and for no other purpose. To the fullest extent perrned by law, we do not accept or assume responsibillty to anyone other than ihe charitable company and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. Mark Proctor FCA DChA (Senior Statutory Auditor) For and on behall of Lovewell Blake LLP Chartered AccounLqnts &'slatutory auditor Pankside 300 Peachrnan Way Broadland Business Park Norwich NR7 OL8 1211212025 12
The Whitlingham Charitable Trust Company Limitsd by Guarantse Consolidated statement of Financial Activities Year ended 31 March 2025 UDmtri¢t•a R••trf¢i•d FuAd• Endtrm•m F¥n¢• ¥•ao'r•thi 2P24 To tntomè •ndty•m•nts ir•rn Dmaiions ar Charftst46 rths (Jhqr Ir09 Inv•stmoh sUbdIary tr•d (Mhtr 20,4&) 16. 278,4>2 4J,114 77.3B7 t7,125 16. 2n,492 43.1 39, 538.217 9.436 io T•thi In¢offl• 130Cp) 1.024.eag 918.932 È¥p•ndiiuf• RSIng luTr#5'. Cos16 of OUT a¢UvMI88 lTh¥esimwA m•n4m•ni $t$ Fthdir¥J COLIdnOr 11•.W8 97.084 ij 16.774 10.774 13,123 GlIble acih411•6 15 20p.riai 563.106 230,347 583,1C6 207.eeA) Totyi •xp•ndblUrn 58.2 946.355 n9.615 123,704 145.220 T•.$34 129.7 168.539 176,1931 52303 145,2>)> I.539) ri,311 181.SlO TrnTrsl•r8 N•t mov•m•niinfvn¢J• 111.991 IJV,5391 3,341 181,5 To41 fvnd6 tswjhl 699250 741, 1,135,071 2,4W.290 T•¢•1 lund• forwird 702 The notss on pages 14 to 28 forn) part of these financlal 6tstements. 13
The Whitlingham charitab.le Trust Company Limited by Guarantse Con801idated statement of Financial Position Year ended 31 March 2025 2011 Chirlty 1010 GfO¥P 2024 Ch•1 2024 Grnup Tj0 Ilx•S•i••ii 31 163.127 877287 903.197 919.911 22 1,169.139 1.16#,16B 2.IM6.l25 1.245.#2 1.248,271 2.165.212 2,032.288 2.148.469 23 24 41.981 46.OWI $1.1## 166.750 kn¥•>lmBnll 26 7,1 2JO.997 266.750 1e6.750 C•¥h •1 b¥j kn h•TrY 352,397 3.177 309.IK 539.728 470.gJ5 S37.82 Cv•dltorn'. •Mnl•Io ou•vh[n rm• >r 117,8331 {1.423) 167,3881 1121.013) 492.095 535.754 40J.597 410.0 N•1 2.524 381 2,5BS.179 .2.552 1)66 1,066,S32 702.398 I,.592 702.398 1,13S.071 747,509 1.135,071 Reatt•d 747.509 835,24J 120,208 937,997 807,789 120.208 iJi,4Bg T•iiluhrnltrbti•d lund• 75S.4S1 818,249 8eg,4aB 699,2J• T•thi ¢h•rftylund• 2.524.381 ThIM flnwlW iw•m•ni• h•wb••n pr•0 acewd•nc• lh• proW•b)n• •pplk•bkn lty MThl ro th• •nwllMmp•nl•* ThÈg• iwem•n¢• ra •wovtd ty bo1 orwwie•¢•nd •thh0rfs•dfor11gon 19 I Ill •1• of•• bo•rd by. The notss on pages 14 to 28 forni part of these finan¢lal statements. 14
The Whitlingham Charitable Trust Company Llmited by Guarantee Consolidated statement of Cash Flows Year ended 31 March 2025 2025 2024 C••h tIow8 IrtyTh op•Trtlng ¢tlvlll•s N•t thcom• 3.341 181.540 A¢"ustmenls lor." Depreci4tlon DI l¥ngibl• flx•d oi$•t8 L8 on dlsposals ol Investments t911¥ed lo$sesllgalnsl on di$posal$ Inl•rest and dfvldend$ fe¢eivable 51,222 4,526 70,667 143,1941 54.885 771 (48,7801 {39,699} Cono•# In,. Trade and olher debtfK8 Trad* and olhtr ¢reditofs e.s36 13,410 176.483 170,1751 N•1 ¢ash from op•r•tlnl 4¢tlvllb•s 108,508 254.825 C••h.Ilffi Irorn Inv•'•tlAg aCtlvltl•• Purcha ol t¥nglbl• 088•lB S•kn of Investments 18,5481 194292 1193,3721 1100,0001 42,327 1252,9941 180,968 1161.2061 Purd)ase ol investments InvestyTr•nt In COIF depo¥ll¥ lThl•r•81 and dlvld•n¢Js r•c•lv•d 41.127 cagh {u8e(l ) Invesllng 8CtNIti?s 6S.301 212,10S Il•t mov•m•nt In ¢••h Ind ¥h •qulv•l•nt• ¢••h •nd ¢••h •qylv•loTr11 •1 th• Wlnnlng •1 th• y••r 43.207 309,190 42.720 286.470 C••h •nd •4ulv•l•nt• at th• •nd of th• ymr 3S2 397 The notes on es 14to 28 fom art of these financial statements. 15
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 1 ¢on•rnl Snfomwllon The ¢harfty is a publ¢ È•nefilentty and • yrw81ts company limited ty 9iiar•nlee, registwed In England W•les •nd a r•gt5tered charfty in Erigland and Wgkns. The •ddrn68 01 lh reoi$lw¢d tsffice16 CK) Ad•Ma Llmhed. HW F•rrn, Klrty Rd, Kltby eeth, Norw¢h, NR14 70U, England, 2 St•l•rn•nQ d¢tynpll•n These fin8JaI Sblements h8v• ba•n prep•red in ts)mp16ance lth FRS 102, The Fimndal R•p)ttiro Sndard ap¥ble In the UK and the RepU1C of Ireland,. tho Staleminl of Re¢0Mm•nO Pl1¢+ )splIty1e 10 ¢harftles prep8rln9 Iheir aGcounls in 8curd•n¢• Ilh the Fina91 Reporbng Standard apIcable in the UK and Republ pl IreL4nd IFRS 1021 (chari$ SORP IFRS 10211 and Ihe C¢mp4nt•8 2. J AGe•wtlng pollcl•• B•$l• ot pr•paMilon Thefflronci81 statemnts ho been pr8p8rgd un¢J¢r lh histotsl ro$1 Mnv•ntknn, modified to InclLxle Inveslmgnts. IfvAltlnllharn Tradlng Company Limll•d was Irwpy8ted M 14 February 2022 Mth The Trust a$ t sote 5hArtrhDldet. Thls tr8dlr Jmpony h•5 been set up in 10 I¥>PFal• Fllni 8om a6 ¢afè 8nd began lo trade on l April 2022. Th tr8dino company wlll Mnts'nuo lo pay rni to The Trusl al the same ra 86 pr•vlous tgnants but Int•noi to the donate profits to The Tn1 on on onnvol basls. Groyi accounts Tho nanoI slat9nnl$ ¢ono0lid•te Ihe re$yfts of Ihe ch•rlty and Its wholly 8ubsldlJry Whitl'nohom Trudlno Comp•nyLlrnii•d on a line by line basis. A seporn1• siemonl of FtMrK4al Activltes lor ts Glty h98 not be¢n present. Golng eonG•m Th• Tnt81•05 ackrNtedw'th• slgnlfirAnl uncertalnty •urroundlng the n•lbn•l ¢¢onomy and tlw TN¥t'¥ ¥clIvlt. Tlw w511 c£t+e to monftLY Ihe +mpact on th8 Trust and financlal arrnngemenis. The Tru61 h86 boen monitoring Its flow monthly to •n$urg Ihw It has $uthcl•nl #h resoms 10 contlnuv lo oper•t• on aday 1¢ day b¥sfjB. The Ynjst has w•paied a bLel for the or •ndlng 31 March 2026 and h•1 ¢onsrd•r•d Its ndlum lern fin•131 plan for the poriod #i least 12 mmihs Irtyn Ihe dale of $¢9nino the fin•ndal slalemenls. The Trustees vie1 81 Ihe do1• ol slgnlw the finanaal statemenls 1$ Ihat the Ttysl minG vl•blè and remains a going Mnctm. Fundlftg accountlng Unr•suict•d fvnds •valable lor at * dlwtlon offl TN811•$ io luthr any ol th• carttys purrA)S•$. Dulgnalad fvnds arn unrestrkl•¢ lun¢h e•mwrk•d by the Trn8leM for parfcular lutur• proJKI or comrnltrnent, The Endowmenl fund rapr•sttnls In8l•lmenls r•cefv•d to kvovlde th• p8manenl Ca181 ol lh• ch•rlty And lh• cumu1thte In¢re8St in martel value of tha undÈrtying investmen13. eamed Irorn ihe In¥ostrTr8nt of ihese fvnds is to tr u3ed to finan thtr dBy to day rynnirffj aThJ cKJntinu¢d developmpnl of the chority. All Such In¢ome Is crediled to tho unre$irict•d gener41 lund on Re61rKied lund$ a ereoted when grants, Inrome and donalons 4 recthd (ora P¥iular puw, the ofwhlth is reslrKled b) th•1 pvrpDse. Th• #lm and us• of•ath T•8trtcled luTha frB $81 out In rtoto 27 to fin•¥1 81A•m•nts". Restricaed funts are wbiecle(I lo r•slrfc*"ons on thalr•xp•nditur• docl•ffjd ty fv donor orlhmugh Ihe t•Frns olan ¥pptsl. and lall Into on& ol hvo suklasses.. Mtrlcled Inccfft funds or oThJowment lurK18. 16
The Whitlingham Charitable Trust Company Llmlted by Guarantee Notes to the Flnanclal Ststements (¢onllnu•d) Year ended 31 March 2025 Incom All income is kn¢luded In the st8tern¢nt Of frmIal aclivlties when entllem¢M passed io Iho charlty. tt is probgbte Ihal thg econryntc ben•fflls 8uoci8led lsllh lh• trbniacb'on ¥wll flow lo chadty and the amounl can te ieliably mèasured. Th8 lolknwhg speafiB policie5 0rv applied b pathlar ¢4teoDiies of rtome.. Don8ik)ns 8re recthd by of gronls, don•tlons and gifts and Ls IncludJ In fuFI In Ihe Stoternentol Financlal Acb¥ttle5 when recNabla. Grants, fiero enOO¥meM Is noi ¢onditi¢nal on the delivèry ol a 8pe¢ift perfOnTra by the ¢arfty. we rwfii when lh• ¢h•rlty t•comes Unc0TrJon1lIY •nlMlod to th• gr¥nl. IncAme Irom ¢h•rfWWe activtoes, don•Jon6 or giants •ro rwnjsod whon there evidon¢• ol entJUpm•ni to Ih•gfft, ieKelpt IJ prthblfj #nd its amount raTr b• m•asvred rellobly. In¢om• from donolod goods h mlrI¢ •1 th• f•li V•lu• ol th• D¢>xl$ unl•81 thls h lrnpr•clleAI mwur• r•llaWy, In ¥¥hi¢h ce lh• value 4$ den"¥ed Irom lh• lo the donor th8 e5timaleO resale value. Donaled lacllilies and sorv¢e8s Are recoonised In the awinls when received if the value c•n bg relably me¥sured. No amounts ar• InCrt•d fty the conlthib.on ol otn•fal ¥oSunte•rn. Inv•$trn•nl $1 olher Incom¢ IM Inthd8d tAh¢fe r¢¢ivaN•. Income from trIng •¢lfvitle8 IB a¢e4unled foran earned. Exp•ndlture E¥F¢ndh¥re is recognised on on •wu8lJ bjsls a liablllty is Inc4Jrrnd. EwendI1 InGluth ny VAT unnX be r•cMod, and 1$ ¢LqsBiffj under headirws ol the s18lemenl ol fin8n¢ial aclivilies lo thbIl reL91$.' Eyndrture on ra4$6ng fund8 includes tho ¢t$ assodaled vlth 9rnnl appli¢ailon5. m•rwglng Inv8slmanls and 9onergling donotions and any other rel8ted e<J$ts. Exp•ndtturo on ¢h8rft•ble advttles Ilud•s all rmls nrTed by a ¢horty In undertaking •clvill•s thal IeT tts chHril8Nè Almi for Ihe ben•flt ol h$ beneffi¢l8rfs. IncludirvJ th088 8llPPOrt CO8t• 8nd ¢osls r&lkng lo the govemonct of tho ch¥rity one0 Io ch&Miable acbvbUo$. Support costs arg •11(ut•d ¥??n lh• •xp•ndllur• ¢•legorle8 ot lh• Sl•tem8nt of Fln•n¢l•l Acii¥ltl•8 on • d•sign•d to propylon (x)$ts thIll each hegdlrtg. Op•rntlng 1•4••1 Leèse paymerts are r•CognI as'an expew over tr18ase lemi on • $tr31ght.ttn• $15. Th •ggro0•1g b•nofit of lease Inc11& 1$ r•wnlied •b • re(Iuciion to •xpen¥e ovw lh• l•as• term, on a $ir•lghl-line basli. L•ase 18 reccqnlsad in Inrri cf exwndiknr• on • 61r813hl line bwii ov•f lh• le¥w lonn. Tho 909rogate cost ol leo88 iftcentivts arè rtCO9nraed ai a redlrt to irtome over Ihe le•$e term on • Btral9ht.Iln¥ b•sl$. Costi, Indlfig dyecJatkn, Incurred In eaming Ihe lease income a recognts8d as an expense. Any Inlyal dlrecl cJ)516 Incutyed in negotiatlng and ¥rr8rvJing the opeTrbng le8str am ad(18d to lh• e4ryfvg lmoum Of ie¥8e and r•wnlsed as an eyn8• over IM I•Aae temi on Ihg basil •6 th1è480 In¢4rn0. T•nglbl• •••• Tan9le assety are 5nltsally roctyded at CO51. 8n(J sutrequenlly slattd èt ¢4St Ips$ any acKumuIwl dewttiatlon and impgirme¥Jl losses. Any larylble assis al revalued 4mDunls are corded ¥t the lair value al the dale ol revalvation1•5s any subsequent o¢curnul818d degrecjglion •nd 4ub5equent attumulad Impaimanl lo45M. 17
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to th• Financial Statements (¢onllnu•d) Year ended 31 March 2025 ¥)epr8datlon w l¢uh0 80 8• to off lh• ¢011 of an la58 It8 mklyal ¥•, over lh• 1 0¢ty1C Ut• ollh•l $14$ L•nd arnl mIdIng5 Tractor rrw)wer FIvI$, fillingB •qulpm•N Pavillon and Galor Buogy Toll•l blxk - 2 to 5% per annum stralgm1 . 25% per annum reduclng bAkwnce - 25% per Anntsm redy¢in9 balance - 25% per 8nnum r•ducing balanc . 2% per •nnum 81rnight lin• Inv•Jlm•nl• L16t•d Invasthl$ •r• rnwr•d Jt f•ir v•lue wth ch•nges ID l•lr 1• belnu mcognlsad In Incom 9T ?¥p•rdlllKe. The Inv•8lmenl li lh• subshJl•ry. WhlOln9ham fi¥diDo C¢vnparw Llrnlt•d Is v•lu•J at the nornknal S• vlue ol £1. Th• oub•HII•ry c•mm•rKed Ir•Jin9 on 1 Awbl 2022. Impilnn•n¢ olllx•d A mvlewlw Indlc•lors of lfflpalmwnl 18 out ai •8th 19rtIng dat•, lIb Ihe raV8b amnI belng e8lOm&led whor• IndIr& tsyisl. Wher Ihè cawrylnp ¥zlue exceeds re¥1b #Intlfil. the aBsel1s impbtred 8¢[dingty. Prtor Impolmwnl8 afe •lw read IOT pxslbb revets81 al tath feporbng dale. Forthe purwses ol ImpaIglStIng. when11 Is rbji posslble tr) ¢'m8te ts recwr•ll• afflount of on Indl¥41u•l ass8L •n eslim•te Is made olth• rKovor¥bJ• amounl of the ca6h-g•nerallng unil lo whlch th• bel08. Th• coth4en•ralln9 unl116 the irn¥ll•ii 6d•nlifiobl• grovp of &ss•ls Iw Indude% the atssel and 9Ontr8ths ush hIs1hl laigely Indndent01 ¢a6h Infows from other sats or 9roup$ of •ssels. Fln•n¢lo1 InginifflÈM• A fin8n¢K•l ass or a fin•KJ•I li•11tyl1 r•cognth•d wh•n lh• ch•rtty b8¢86 • p•ty IC• lh• c4ntr8Glu•l pro¥lilon• ol Ihe IrAtrumgnt. 8•st fin•ncl#l htrum•nli •r• Inltlalty rnc4onld •t th• •mounl r•¢qlvAble e4 pay•ble irKludino rd•led trgnuclifyi C1&. Curr•M aosel$ and cury•nl IIAblmlos arè subi•qu•ntty mu8uj #i th• c4ih or01r con8lderntth ¥xp•cl•d to b• p•id or re¢ •fvJ Th)t diK4unted. D•bt knBiwm•nls •r• $ubsequenlly measuved •1 •ffl0rt18•d e4sl. Whore invMIMII In shar08 arp publldy IradÈd or tMlr lalr ¥8lue can Oth#1 b8 moasurnd wlilbly, lh investment 1$ subs¢quendy me8sure(18t lair v01u• wlth ¢hary5 ,la v8lue lenIsed In incomg and eAxnOllure. All olhET $u¢h Investments bre subsequ•Thlty 88ured •1 fthl le&8 Impginnenl. FIn0481 Ihat4r n¥Jasw¢d ¢osior •morft•d eo¥t •r• r8¥le4wd for obl•the •vhlence ol Impalrrnenl ¥t Ihe •hd ol•Ach feporting daio, If Iheig IB objeGJ¥é gvhlence ol impairmenl. on imp81rment IoJ8 ts r•c4gntsed under Ihe appropri8t8 headlng in slaifymeni DI flThandal acti¥rt*$ whth th? Inlb'd 9wn w)a Irted. For 811 uty insmjmènls regardLgss of Significanco. and olher financl818ssel$ th¥t are IndlvA1ualty slgnlfican( Ihe8e Of• •sses8ed Irrfti¥ldualty for Imp&Srment. Olher finonclal 08$ets ¥r• ehher amessed Indivtyyually or gwuptd on Ihe b18 ol ilmllar uedil rf•k Chal•tr6. Any revernds of impalrmenl are recognised ImmedDtèty. 10 tM •xl•nt thgt th• rthersal dws not result k) g c4Thylng •mouffti ol tr fin•nL¥al 88s•I Ihtht ?xc4éds what tho Garrylng •mt woyl¢J hav• been Tha(1 Ihe impalfryth not prevlou$ty been veMgnised. 18
The Whitlingham Charitable Trust. Company Limited by Guarantee Notes to the Financial.Statements (¢ontInu) Year ended 31 March 2025 Judp•ffl•nts and k•y •our¢•• of Mtlm•llon un¢•rt•lnty The preparatKJn ol thefin¥noal stalÈrrlts reqwtss m#nwJement to rnakelud9erwants, esomaies and 8sswnption8 thal affed I 8mounl$ rtportsd.'The8e estim•les and judoerynt6 are LY)ntlnv81ty mil8d •d gre b•s8d on •xperfenc• •nd other ladors, Includiftp expo¢t•tk)ns of fvluw ev8nls thal are belteyed to be Teasrmablo under the drcum$l8rus. The 18$ hive cnnstdernd Ih•r8 lo b• ho lal ar•as oflud9•lW)t l¢ dIsc wiuiln Ih flnncknl I•ments. 4 Llmltsd ty gu•Mttt•• Th• 1$ b ¢haritsNo Cfty, 11mll by gurartse. Ewry member of Ihe CAimp8Dy is a gwirjnlor and ufvJ•rtakn¥ locontribul• lo th8 asset5 01 Ihe c45rnpany in the event of il being wound up with a deficit ol fUrs, such os may be required up lo Ihe lirnil ol their quardnl00. E8¢h yr•ntorS li8b4rty i& kTrrted lo £1. As &t 31 March 202S, thtt• w•ro lour such momblrs.. J R Colm. J Colmon. C Penn arKI lh8 Brngd3 Avlhority. Av•r•g1 numts•i of •rnployM¥ Average ThMnb8r ol•mployees durtng ts year In Ihe groupwa$ 2312024.. 181. UnmtYl¢t•d RMtrl¢tsd Tol•l Ftsnd• Unr•8lrt¢i•d H•¥trl¢t•d Totsl Itun4• Fund Fund• 2025 Fund• Fund• 2024 Donationty 7 Charftsbl• •cthilts Uni••trl¢t•d R••trl¢¢•d Totsl F¥nd• UnrM¢rf¢thd Rntrkt•d To1 Fund• Fund• Funds 2025 Fund• Funds 2024 Letllftg of woperty 12 • ¢Xher iiadlno actlvlll UnMirfet•d fte•lrkt•d Totsi unl¢t•d R•strt¢tyd Fund• Funth 2026 Fund• Fund• Total Fynd• 24 Car p•rt ch•ro•J 92 19
The Whitlingham Charitable Trust Company Limltsd by Guatantee Notes to the Flnanclal Statements (coftllnuod) Year ended 31 March 2025 • Oth•r tr•dlng •¢tlvttl UnMstrl¢t•d Rotrlet•d Total Funds Uftrestrktgd Rostrfct•d Total Funds Funth Funth 2020 Fund• Fund• 2024 Income frtsm Ilsted iThveslmen18 Income from e45h Inv•8trnenll 32.812 10,382 32,812 10.382 31.585 .114 31.585 8,114 94 10 Sub•ldlAry tr•dlA9 Unrn•lrl¢l•d R•sivl¢t•d Tglal Fund• UTrv•¥trkt•O R•atrfcl•d Totsl Fund$ Fund• 20U Ftsndl Funds 2024 C•fé ul•• 217 11 Olh•r In¢on UDY••trlei•d R•girlEl•d 7Dtsi Fund• klnr••trt£i•d R•strf¢l•d Toljl Funth Fnd1 Fwnth 2010 Fund• Fund8 2024 Olher inc4m8 12 CM¢• of olh•r tr•dlng •etlvltl•• Unr••trf¢t•d R•4trlei•d T•t•l Fund• Unr••trl¢t•d R•$ttht•d Fund• 202$ Fund• Toi•l Fynd• 3024 Support $ts Car part m•Th8gemenl fee 14,832 100,110 14,832 100,118 8225 88,859 .225 88.159 14 13 I•1m•t m•naq•m•rf 914 Vnmtrf¢i•d RHtrl¢i•d T¢t•l Fund• Unrn•til¢t•d RMlrkt•d Toi•l Fund• Fund• Fund• 2026 Funds Fund• 2024 P¢rfolk* m•nag¢menl sup o)$ts 855 125 855 125 4.854 449 4.854 449 3D3
The Whitlingham Charitable Trust Company Llmited by Guarantee Notss to the FinancSal Ststements {contlnu•dJ Year ended 31 March 2025 14 Fundr•l•lng ¢t>onllnotor Unrn•irkt•O R•¥trlct•d Totst Fundj Uni•$tri¢t•d RMlrlGt•d Funds Fund 2025 Fyndy Funds Tot•1 lund• 20 CLXJrdinaior ¥lary 774 774 123 123 16 Exp•ndltur• on charltsbl• actlvltles UnrMtrkt•d Rt8idet•d Totsi Funds Unfe$id¢t4d R•slrl¢tèd Fund• Fun 2025 Fund• FMnd• Totsl Funds 2024 Slle m•n•o•rn•ni Sundry Oepred8tb)n lffocovorablé VAT Supwt ¢oiii 160,492 1.000 16.505 2.501 27.993 333 160,825 I,eoo 48.118 2,501 37,503 121.903 758 21.03Q 9,859 22,632 121.903 756 51,010 9.859 24.132 31.613 29.980 9.510 1,500 209 091 17 207 18 Sub$ldknry tr•dlng Unmtrl¢t•d Rotrl¢t•d Totsj Fund• Unr•birb¢t•d A•11• T)t41 Fund• Fund• Fund• 2026 Fund• Fund• 2024 Slaff eofyts Dlrecl rmts Premis c451$ A(ImSn151r•tion usts Prvf•ssbnal lees Depreciauon Sundry 235,549 211,928 71.265 20,117 20,055 3,104 1.088 235.$49 211.928 71,265 20.117 20,056 3.104 1,088 183,922 170,799 68,510 18,052 18,512 3.675 2.975 183,922 170.799 68.510 16,052 18.jl 3.675 2.975 17 hT•t giln•llo•••• on In¥Mtnwfits . Unr•strlct•d Rotrkt•d Totsl Fund$ Unr•8trF¢t•d ftutrl¢t•d 7ot•l Fuhd• Fund• Fund• 2026 Fund* Fund• 2024 ILo$ses)19alns on'1151ed Inv8¥lnwnts 83 21
The Whitlingham Charitable Trust Company Llmlted by Guarantee Notes to the Financial Statements (¢ondnu Year ended 31 March 2025 18 St•ff Costs The lOt•l si¥ff ¢i)8Sts and empfoyee bentrfrts for thè r¢F¢rts'ng ith)d are anawd a8 WM.. 2026 2024 W•g•s ul4rt•8 Soclal secunty rK¢sIs Empknyor conlrilJuth)ns to penslon plans 306,069 9,127 18S,988 5.011 4,004 322 876 195.003 No ¢mF4oyw f•rAived eryloyetr t*nellts ol moro than £60.OOOdurtrvJ tho ytsr12024." •mpk)yee$l l• Il•t Incom•l(•xp•dltuMI Net inwnell¢xpOIIIUreI IB ststed after ¢horgin9.'_ 25 2024 Dwr•d4tlM oftsnpliblo fixed A8t•t8 0ra9 f•BJ¢ w¢nial$ Ir¥J•pendeni exomlnalton fees Atylil leeB. •¢JtJlt ol ¢harty and g(oup occounts A111 l•tt- ludli of subsldl•ry 51,222 12,470 51,010 12,470 5.400 11.5 4,150 20 TnAtg0• Trmunoratknn No femuneralon or othw benefft6 trom orysloym•nt wmh thg ch•rlty or a rd•ied •nllty wJr• f•c4¥•<l by the Tru81¢01. 21 T•ftglbl• Ilx•d ••¥•ts. ¢IllY PlpnL L•nd and bylkllngs I1Xr•S Totsi 2025 Totsl 2024 Co•t As at l Aprfl Addltions 1,106,810 289.717 8,048 1.396,327 8,018 1.152,772 243,555 A• •1 31 M•r¢b 1 106810 1404.375 I3327 D•pMclatlofv As al l Ayll Charge lor Ihe year 406,338 28,39S 08,794 19.723 493,130 48.118 442,120 51,010 A• •t 31 106517 493 130 Ilrf book value % at 31 Morch 2025 671879 48 83 127 As at 31 Mw¢h 2024 700.274 202 923 710652 22
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 21 T•nglbh Ilx•d ••i•ts- Gmup PthD( m•¢hlnery and flxtur•o L•nd ond bulldlng• Tothi 202S Tol•l 2024 Cout As at 1 Ayll Addttlon& 1,106,610 312,546 8,$48 1.41è,1S6 6,546 1.1e6,162 252.994 As ai 31 r¢h 1 106610 1427,704 1419 156 D•pr•¢l•tlon As 811 Apyll 406.338 28.395 82,879 22,827 499,215 51222 444,530 54,685 A• M 31 M•r¢h 550 437 499 215 Not v•lut s at 31 M•rrh 2026 87187 877 267 s at 31 M•rch 2024 700 74 219867 919.941 721.632 22 Inv•th•Trts Flxod S•1 In¥•61menls 8(¢'helJ at thir folr 2025 Ch•ilty 2025 Group 2024 Ch•rfty 2024 Group ¥ilu• At l Aprll 2024 Add6th?ns D5$p1 R•8lls•d11081•81 UThr•al4ed Ilossesllgalnl 1.228,219 188.471 1194,292 14.526) 170.6671 1,145.205 23.954 1226,219 188.471 1194,2921 14,526) 170,6671 1.14S,205 23,953 1,175,891 161,206 11 J8,8871 17771 48,780 1,228,219 1g,OS3 1,175,891 161,206 1158,8871 17711 48.780 1.226.219 C•sh d•po851$ A4 •131 Mor¢h 2025 19,052 1245 272 1245 271 •È v•lue c•n be 8nJlysed4s follOWS.' UK fixed Inlorgst setIeS UK listed e4uili•s and uftil twsts 190.083 955,141 1,145.204 190,063 955,141 202.4111 ,023.737 1,228,218 202,481 1.023,737 1.226.218 1.145204 Whithnoham Trnding CompBny Llmrted Ca$h d¥roslls 23.954 23.954 19.053 19.053 The thstorl¢41 cost of Inv•srrnenls be •nglysed8¥ floW$.. UK Inl6rest securities UK li¥l•d •quib8s and unlt tNst8 189.661 747,449 189.667 747.449 210,5LI5 706,99S 210,505 706,995 937,110 937.110 917,501 917,501 Whrtlngham Tr•ding Company Llmtted Cash deposits 23,954 23,954 19,053 19,053 555 23
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements (¢oniinuedJ Year ended 31 March 2025 23 Stock 202S Ch•flty 2026 Gmup 2024 Chirfty 2024 GrP 24 D•btOrn 2025 Ch•rfty 2025 Group 2024 Charlty 2024 Grovp Tr•d• dtbtois PrnpayThe#ls •rwJ In¢orn• Clher debtors Amounls du• Irom gro undfrrt•kings 37.774 3.154 38,719 5,481 2,350 32,969 14,025 1,097 47,859 13.620 17.2801 210 41981.00 46 530.00 48,091.00 54 199.00 28 In¥•81m•• 2020 Ch•rfty 2025 Gioup. 2024 Ch•rlty 2024 Gloup COIF ¢Jétwll Ijni 28 Cr•dltorn: amounts l•Mlng du• wlthln on• y1 2Q?I Ch•rfty 2021 Group 2024 Ch•rlty 2024 GfOIIP Tr•de Aravah an¢J def•rrnd IrKcffl Amount6 duo togroup uthrtakhgs Otlr creditors 5,320 19.036 50.415 32,217 51.791 2,339 24,140 5,509 35,4CKI 32.974 42.392 45,647 23.277 121013 27 AMly•l• ol ¢h•rtlBbl• lund• Vnmtrlct•d lyTrd• . group At l Aprfl 2024 Galm •nd At 31 M•r¢h 202 In¢om• Expendfttsr• Trnnslern General fvnds gnal¢o lundk Fiyd As6et fulwe spend DcAbat•d Asuti Woodland manpppmenl Flx¥d Assei 567,769 1.011,745 1876,70P} {6,8541 696,041 27.087 1.512 7,701 95.189 699 258 1011.889 27.087 1,241 7.701 84,179 816 249 12711 144 111.1541 888 125 119
The Whitlingham Charitsble Trust Company Llmited by Guarantee Notes to the Financial Ststements (¢ontlnu•d) Year ended 31 March 2025 Al l Apdl 2023 Galn• •nd 1088e• Al J1 M•r¢h 2024 In¢omo Yran8l•r¥ Genernl fund8 Degnoled tJnd5'. Fixed A6sel futwe sFend t)wled Assets Wcodiand monagvm•nt Flxed Ast 447.385 851.OOJ 1735.372} 4.770 587.789 27,087 1,874 7,701 87,021 27,087 1,512 7.701 95,189 13821 17.446 192781 868 452 745012 Genwal fijnd The General fund represents surpluw$ h•ld In rerye lo •n6uie that th• uJnllnu•d oper•lkn ol lh8 Twusi for t Imm•dLgt• futyf•18 reasonabty assured. Flx•d Asset fund Th• Flx•d Ass•1 lund h•8 Ixon ¢rnat•d to the co¢1 olm010rpkn1 Ilemj Indudlng th? lthl•i block l•&llty •nd th• Iraclw-fflryw•r. lh• balanc• of Is roduced by Ihe annual dlpredatlon th•rge. FIM•d A88•1 lulur• Snd fvnd Th• Flxad Ao futur• $wrwJ lund repr•nIS lh• iurplui dMl9n4t•d kn •ll uptt•l •se•t purdws•J 9olng loThYard wllhln Ihv C<¥Jn Dcn•l•d A8a•t fund Th Doft•l•(l AAi•l fund holdo the lalr ¥•luè ol 1$1•10 don•l•d In Iho ¥Tnd on the b•laneA 1$ by th• ann1 dwxiAtion chary•. Woodl•nd M•n•o•m•ni nd The WooLll¥nd ManBgem•ni iund fpr•senl$ Inc9 rwaived Irom IIKI Jole of Umber 08 • resLrft ol the olwJl•nd wr tho WooLlland M8na9emei)i agreemenl 1¢h be used to furKI fvrther work8 R••trl¢i•d lund• . group At 1 Aprfl 2424 Galns and IQAs•• At 31 March 2023 In¢¢m• Exwndltur• Tr•n•l•rn Moorings Visllor fadlhles d8velopff*nt Orfenteertng course Wilow W7ng Patlhyay DItrAI toilet Fundin9 cL¥)rdlMtor Blrd hide Website Solar proj Cofflw$ter 14.(641 117.9571 119 566,SS8 397 70 108.041 38.478 10,877 4.643 8,50D Y8,801 397 70 101.666 36,485 103 4,S81 1,000 5,627 3,886 16J7SI 11.9931 116,7741 1621 17.5001 11.8731 11.6321 7,500 5,500 58 30 119 25
The Whitlingham Charitable Trust Company Limitsd by Guarantee Notes to the Financlal Ststernents (Wlllnu•dJ Year ended 31 March 2025 At 1 Apvll 2023 Galns ond At 31 Mareh In¢omg Exp•ndltuw¢ Tr•n•f•rn k407ng8 Vi8ttor dev•l¢)pMf ortenteering CQUfse Wlllow W••vl 14,0641 17.9571 3.945 566.558 397 70 108.041 38.478 16,877 4,613 8,500 $84,$15 397 114,416 16.3751 11.5221 113.1231 1821 11.5001 DisalIty 101181 FundTr¥ cmrdinator 81wd hide Website 40.000 4.205 soo 10,000 741612 44 603 747 509 fvn¢J The Moorin9s lund hokls fur6 rn¢¢lv•d 8F•dfic4lly lor Ihe wrp¢Jso OlwislrllrV1 24 tYh)orOws th8 p#r. The fuMI b¥l•w Is redwd by th¢ annual d•precabon ¢kno8. V15ttw f•dlttle$ devekpmwt fund Tho Vlsilor 18cili¢¥ developmgni lund reprIntI 9rants wl¥ed Iwdfi¢olly lor fv purpos•ol IM )ntrIon olth• viiilOTr Centre. The fvnd b818Ke is ieduc•d by tho anrwl d•predobDn ¢h•ryè. Oriemabng Course Th• OrteDtsllnp Courn• lynd iw•••nts 4 9rnnl r•cel¥•d Ir¢Jffl South Nomwl Councll ltyv81O$ lh• r•-In)I•llon ol orf•ntlng wl8 8nd Inteiwelino slgn$ oround the Covnlry Park. Paltr fvnd Th pothway fund rewesenls a doTrat¥ rec¢l¥ed from Town 00% towBrdsthe fe3sJrfBdry of1 p•lWy •Found th• C•t Brd lo m8f¢e twh$elth8ir user friendty. DIbIlty tcil$l lun Thts dijatylrfy to11 lund leky•Tr a donètkjn rec•fved fv•rds th• In&lall8tkn of• dlsabllmy tdlei 10 m¥ke the p•rk ft)re #ew81ty ft>r •ll to •nfr. Fundin9 ¢>Jordlnalof lund The lundiThJ cotydlnèior lur#S r¢pros•nts h¥0 donatlons rKelved IthvaS the empbym•rt ol a fvndialsSr•J olhcr fty lh• TNSI. Bird hld• fvnd Tho bifd h¥ furKI esert6 th¢ income re¢•4v•d Ifem the In relob'on to the inslalbbcffi olthe Mwtynl h?. b5ii• lurtyj Th• wetsslle lund rew•8•nty tho In¢om• f•c•lv•d from th• In relJtton to th• rrfw b$lt•. Scl#r proj•d lund The 60tsr fvr¥J rewesents Ihe trume 1Ved from th• th¥Oons in rnlBtion to th• instsllaknn ollhè solar pwlswlthln the Cry5ter lund Th• MmpNi•rlund repr•s•nls th• Incom• rece10 from th• don4lton6 in rnlallon to th• puthse of& wasleuJmp)slwllhln 26
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements iconl1nu) Year ended 31 March 2025 Endowmfrnt lunds. group At 1 Aprll 2024 Galn losu• At 31 Maich 202S In¢ort Exp•ndtture TraMhr8 Pwm4nl Endwnent Fund 1 135 071 C46 S32 At 1 Aprfl 202J GNln• and Al 31 M•r¢h 2024 In¢omo Exp•ndlturn Tr•ng1•rn Perynanent Endonen1 Fur 33 71 ¢hvment fund The Endowment fvnd f•pres•nts lh• lon9 Igmi ¢gpllo1 of fv Trust. Inler•st gen•rat•d trom Inv•81m•niJ h•ld In'lhe ErvJom•nl lund uied for the day-l048y ntnnlw $ty ol lh• TN$t. Transfers betr tunds In Ihe rela1¢ lo the rtlease of re8Lr5ction on ol ¥55ets a1 S•¢ of the gats15 and lassos on Iiwe8imen16 hebl behv8en the end¢)wmenl ortd unweslricled fur$. 28 An¥11$ of n•t •u•ts b•te•n fund8- glOUP Vnrnstrl¢t•d R•¥trlct•d Endowm•nl Totsl Fun Fund• Fund¥ Fund• 2026 Tanoible fixad 888•ts Instments Current 8sielS Crnditsr81•81 Ihon 1 y•ar 174.869 104,754 873,177 {134,4231 702.398 877,287 1.16è,158 673.177 1134.4231 1,064,404 N•t Au•ts 818 377 702 398 2585 179 Unre•lrl¢t•d R••trlel•d Endowm•nt Tolal Fund• FuRd¥ Fund• Fund• 2024 T•nolbl• fix•d In¥¢$knent8 GuThent assets Crodllor&1oss Ihan 1 year 172,432 110,200 537,639 1121,013} 747,$09 919,941 1,245,271 537,839 1121,0131 1,135.071 698 258 1 135071 2 581838 27
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements (¢ontknu•dJ Year ended 31 March 2025 2• Op•r•llno Iw• ¢ornmltrn•nts Al le68ee Th• totsl lthur• mlnlffwjm l•Jie paym¢nts und•r nonwC4nc•lbW op•rnllng le••e6 Jr• •• foltcm.. 202$ 2024 Nol laler than l y8F L•lei Ihon 1 y•af and rn¢ lai•r Ihan S yèars L•ler ltsn 5 yeafs 12.470 49,880 723.260 12,470 49,880 735.730 785 810 The of Whrflnqhom ¢cnty Pork IB leased lo Ihtr TNSt ur#lef long-omi 1o#ses annv4 peppowcLJm rant$. Tho Old Rtyinp Club Wldlng leased to tho TNst und•r • ihr•• yur kiag• Annual p•pp•r¢om r•nts A• lfr••or The totsl fure mlnlmum le8se paym•rts undpr non-c•nceltsble Opern9 legses areas follm.. 2025 2•24 Nol Ihan l yts•r Later thon l ye8r and lat•rthan S yaars Lat•r thin S y••rs 15,500 62,000 15,500 62,OC•J $28,8C The operallng lea5eB represènl Ihe 8se ol laryj lor INhlllngham Bothu8e5 FLwn¢laOon Lld (for con51ru¢tltsn and use of a bo&th0) the l•aw 01 tsfid for the Oulthwr Edurallon and Ad6vtty Centre. The lea$es ne901iated ovei a tenn 0178 r5 •n¢J 15 y•o1S IVOWCtfvety. JO Fln•nchl In•trum•nts The folknO &itegories ol fimndol thstruments #o carried In th• bawnco she•l.' 2026 2024 Fln4n¢l•l a•••ts Measured alloir v8lue 1 145 205 1226 219 31 R•l•t•d pArtI•• rrIng Ihe yeAr lh• Trust fenled the Flni Bam from • f8mlly tDJ81 conM¢t¢d Mr J R Coim•n. Thv bulldln9 Is rentha under • tong leTm lease Ioptr81ing leases- note 29) under terns Mootsated on an arn.1h basts. The renl due during I year wa5 E12.470 12024.. £12,470). The amouni rArt6tand¢ng at the year was £nll12024.' £nill. Whitlingham Trading Cornwrry Limiled L8 a TIly owed sUbsl3ry otwhmingharn ChafithtAèTftK%l. At the yeai end Wmiilinglwn Charitsble Tnjii w08 by Whlulngham Trnding company É21012024.. £3,$09 owing). The TNSI hohls the majority ol it8 investments wilh Barratt & Cooke StDckbrokers whith Mr N R Savory is a r4X0¢tiV8 ¢Jir¢ctorof. 32 Volunte•r et)ntrlbullon An a¥eia98 of 30 volunteers dedicated 5.963 Ul5 to Ihe Trus1 (excludin9 évenls, aryj college groups). VOluntseYs have cKJntsnd to ass4sl In the ma5nt•nance and obEr•ll Imwtyements around Ihe Part thrtygh legur ¥&1•11n rnB Trjgomenl, Itttbr pkkirwJ. lumilure repair and repiac•nent, iThvasfve s$ ¢On1r and vlsual site InsF¢ttions. 28