THE 1989 WILLAN CHARITABLE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 30TH SEPTEMBER 2020
CHARITY NO. 802749

THE 1989 WILLAN CHARITABLE TRUST
TRUSTEES, REPORT. Y•ar End2d 30th Soplember 2020
LEGALhND ￿DMINIsTRATIvE DETAIL5
Trustees wbmil their ￿pOrt and fingnc181 stalemenls of The 1989 Willan Charil8bk Ttusl Ilhe "Charity") for the year
Ènded 301h September 2020 The financial $181omenis hav8 been prepared In accordance with the a¢couniing p(>licies 591
I In note 1 COm￿Y Wlh the Irusl deed. the Charlliss Aci 20t1 and the Slalemenl of Recowmemle¢ Pr8ctice.
AccouniiNJ and Reportin9 by Charitiès 2015 IFRS 1021.
L89al Staius
The 1989 Willan Charita￿e Twsl is g reg1ster￿ G*wrily Ireglslared
number 8027491
Govqrnlng D4xumont
Trust Deed dated 8th August 1989
Tfustèes
A Chapman
A Ohlsson
Wlllan TNsie8 Limited
IDir8cic*s- M Bird. A Ch8pr8n, A Ohlsson.
S Winfield and C Se¢Com￿l
Key Manjgement Personnel
The charity do8s noi tmploy any $ia(f and therefore the board
remain responsibl& for lh& day-itrd8y wr81ion of lh& ch8nly.
Administrators and Prlnclpol Office
Cafilon Mana9emenl Serw¢&$ Limited
PO Box 525, 41h FIcN)r
45 Esplanade
Sl HelEr
Jersey
JE4 OWZ
Gfant Ad¥l$ors
Th$ Cotnmunty Foundation
Philanlhfopy House
Woodbine Road
Goslorth
me￿$119 up)n Tyna
NE3 1D
Inve$tmont Man898r$
Brewin Dolphin Ltd
Time CeniTal
32 Gallowgale
Newcasiie Upon Tyne
NE14SR
Baillie Gifford
Calton Souarè
1 Greenside Row
Edinburgh
EH13AN
UBS Weallh Management
2 Sl James. Gale
Newcaslle Upon Tyne
NE4 7JH
Bankers
Santander Private 8anknng
PO Box 545
Sl HelEr
Jerssy
JE4 8XG
Sollcltor¥
Mutkle LLP
Time Central
32 Gallowgaie
NeYKa511e Upon Tyne
NE148F
Wardhadaway
Sandgale Hou50
102 Quayside
Newcastle Uwn Tyne
NE1 3DX
AudltOVS
MHA Tail Walker
Bulman House
Regent Centre
Gosforth
NeVKas1￿ uwn Tyn8
NE3 3LS

THE 1989 WILLAN CHARITABLE TRUST
TRUSTee$' REPORT. Year End8d 30th September 2020
MS ANO OWECTIVES
The Charity was esiablisheLI by an Inltial gift Irom lh8 Willaft family out of fuTrds originaling from a shipping tMi*r*ss based in
the North East of England. Ov8r the years th8 Willsn family have sellled furthÈr funds on thè Chafity.
The Charity's injsi deed 91￿$ tho Irusie¢s ¥*ide powwy lo dislribule the income ol the trust and 5tKh of ils capital a5 they
dèem appropnale lo orfor such charitable Institutions or cfvaritsbl& purposes ès the t￿$1•8$ in Ihelr absolu18 discreiion Ihlnk
rrt. However, within Ihis bro￿ 18mil, tha iiusiees rer*ognise thal the Fesou{￿S of Ihe Trus1 are finite and Ihal il is IherÈfore
necessary lo funds more selectively lo areas where the funds used most etslwely and can make ihe m05t
difference
In racognilion ol th8 origlns of the Tlust rund and Iha economic Impa￿ troi thè decline of the ship buildin9 industry has had
on Ihe region, Ihe Iruslee8 l￿d to conc8niraié thèir support towards causes which are activè in Tyn& and Wéar and its
Immediate surrounds. Th& Irusiees favour G3uses which airrTr lo ease swal deprivalion aiKI l or enriGh Ihe labriG of the k)cal
community and the quality of life ol in¢iviLIu815 Ithlhin Ihal communily They may also support educaih)n wh8r8 Ihal is aime
at improvlng lfve ewnorny in areas of deprivaiion. As well as direct supwrt for such causes in th& fonn ofgi8nts, Iha trusiees
may 31so provide Indireci support. USln9 the TtU51'6 ¢atyiai 10 make rèsourcÈs (typically w8mls8$1 availab￿ to other
deseNin9 Charilabltr oryanisaiion5.
The Irusl8es aim 10 disiribuie £SO0.0￿ lo £6W.000 per annum based on a real relwn 014% upon Ihe ITUSI a5set5. Wilhin
Ihis Iimil, the Iru5tees have n911her a Th8ximum nor minimum applIc8￿On figure Ilhough awards made lo dale have typcally
been in the range of £1,000_ £10.0001. The trustees wish the Cha￿tY 10 b8 a r&source lor all seciK)ns of the communily and
Iherefore do not ￿$h lo discouwe applicanis b8cau88 Ihtii reouirements are 100 small or IhtriraÈplral￿ns too 9reai.
In considering whiGh bcal causes lo support and th& Itvel of support given, thè Itusietrs ￿￿14 also haya regard lo a
applicant's 8bilily lo raise funds elsewber&. Conseouenlly. the Iruslees lend lo ￿￿h1 their SUPPDrf l(Mards lrtal charitable
inslilulions rather Ih8n naiion81 or iniemaibnal ones ￿ IhÈ basis Ihal the lar9er inslilulions eniDy nigher prDfiles and wll
typically ha¥e Wider ￿¢￿sS 10 ftsnds.
In cases ol great noed such as m8ff)r natural disaslet5. Confi￿15 or accidents. cau5e5 May be 5UPPOrted outside ihe tiuslees,
normal parameters st818d above.
PUBUC 8ENEFIT STATEhlENT
Tho Iluslees have r8f8rred 10 guidanc& Contain￿ in the Ch8nty Cornmi5510n' general gUittan￿ on publi¢ benefit when
viewng the aims and obi8cli¥es and in planning future activitie5. The chanlab* obpolives are aLs0 set in orderto provide a
clearand (kmonslrated publi ￿n￿rIt.
The Charity's acliwilies Ihrou9tK)ul th8 were consislent with Ils 8INs and 0￿￿lIveS 85 Staled above. Wl suGh a¢livil￿$
are undertaken lo lurlher ourcharilable purposes for the puNic benefit
STRUCTURE. GOVERNANCE AND MIAAGEMENT
Th? Charily is an urTincotwraled Irusl consllluled under a Irusi daed dated 8th Auyugl 1989 and Is a r8gslered Chaniy
lnumbe1￿ 8027491. The trust provides thai Ihefe be a minimum ol thre& Irusi6es. The irtts18e$ are appoin18d by
mèmt*ts of Ihp Willan family and s8rve for an ind&finil& 1am. The Itusiees who served the Char￿Y dufing the y&ar ware as
foiiows..
A Chapman
A Ohlsson
Wiiian Trustee Lim*ed
The Charity Oogs ￿1 acllvdy fundraise and saek$10 ¢onlinuo its suwort to gppropriale charit9￿$ c8u505 through tho ¢gfyful
stewardship ol Ils exisiing rèsourctrs. The management of the Charitatle fund 15 diwLÈd into Iwo prI￿1paI areas. asset
management and grant making
R&sp)nsibilily for Iha 3$5el managemenl function Is delegated ID exiernal invesiment managers. Brawln Dolphin Securit￿$
Ltd, UBS Wealth Management and Baillia Gthrd mana9e invesimèni portfol￿$ for th& Charity und&r discretionary
inveslTnenl managernent ag￿eMentS. Th& IrLslees monilDr the performarKe Df the w>rtfoli0s on a quarterty basi% Ègainst
relevant benchmsrk8.
The Iru51ees are graiaful to th8 Communily FoundaliDll Se￿ing Tyne & Wear and Northumbedand Ilhe 'Cornmunlty
Foundadon'l. Ap￿icationS are prctessad, co1131ed and shortlisted by the Community Foundalon w a quartgrly basis A
subcommiliee of the board of Willan TNsiee Limited meet each qu8rter lo vel the 5hortlisi. The shortlisl Is then rirculaloj lo
each ol the trustsas forGonsider8lKin and approval.
Carflon Managtmenl Services Limilett, a Iicenced lrysl company regulated by the J8fS8y Flnancial sary￿e$ Commission.
provid8S admin￿tralivè and attounting 5eMces io the Chanly.

THE 1989 WILLAN CHARITABLE TRVST
TRUSTEES. REPORT. Year Eaded 30th Septernber 2020 ICont4nued)
The trust￿5 aim lo meet al lfya51 once a year lo rewew Ihg Charily's financi41 stalemwts f¢K the prwllng y&ar, Ihe
P9rfotm3nTr of its a5sels its grant mgkiry aGlivrties lo cwsider %thelher chan￿9 are required in Charitls
rM)Iicies and overall slralegy
RECRUITMENT OF TRUSTEES
Any Irusiee vaGancies which arise are filled by search wilh due iegard to maintaining a proper balance of skills and
expprience ¥wlhin the 803id Rgprfysenlalion felevanl lo the service user group Is 8 key f8clor gi¥en the Charity's fflisS￿n
l appcinimenls ar8 subject lo Ihe appFDval by mgmbers al a genera1 meeting. Wilh the notice of 5uth mgeling metnbers
are provldÉd witn a profile of prospeclwe new Iruslees- and equivalent Infomialion for any Iru51ee offering Ihemsdves for r
eleclion. Additi￿31￿ a lull aiiendance record is pThide(I 10 membets to infomi th&1 deci*ons.
TRUSTEE INLIUCMON AND TRANING
Ne4Y Iruslees are provided ￿th a proper Induction prct8ss and a checkli&l 8nsui8s ihey rewve all r818wanl papers and
guMJance lo prop8rty fu￿11 Ihelr responsibili1￿$. Bri8flng p8p8rs arKI famdiarisaiion training is affected for all Imsl8w6 a$
deemed ￿CeSSary.
RISK MANAGENJENT
Th& ITu51ee5 have c￿sidered the major risks lo which the Charity Is exposed and have eslatlished syslems and pr￿￿ureS
manage ￿OSe rL%ks.
RESERVES POLICY
Tha resul1$ lor the year leave Thè 1989 WilLgn char￿b￿ Trust with an Unre51ncled Revenue Reserve of £21,165.198. It ¢8n
b8 s8en thai of th15 Sutn £152.551 is hekl In Nel Curreni As5e15. Ihal Is. represented by cash. nel Llebtors therefore
readily expendable by the Iruslees
The Irusies$ aim 10 disiribule £SOO,000 lo E600.(h)O ppr annurn baserf Dn a real ￿1￿￿ of 4Vty upon Ihe trust assets 11 is the
policy of Ihe cTharily 10 Tnaintain a Iree cash balance ol approximately ￿onths. vnreslricw gxpendilurg This provides
sJHici8ni fuNJs 10 cov6r management. ajminislialion Suppr￿ cosis and lo ￿Spond lo appiicalions lor grwt5 which arise
Imm lim& 10 lime.
The lryslees have rev￿wed ad1vill￿ and pr￿red a risk assessment lo enable Ihetn lo consKler the financiyl position of the
organisalion In IvJhl of the on90ing ￿tuation in relation lo the Covid-19 vi￿5 On conclusion of this the Iru51ee$, having
consi(tered trt)Ih tho si9nificanl lev4 of cash and investments held by Ihp charity consider Ih31 Ihere are no maierial
uncertainties regardln9 the Gharily's 3txlily lo continue as 8 going concem for next 12 months.
FINANCIAL REVIEYI
As al 30 September 2020 Ihe albcaiion siood as follows.. 29.6% LJBS discrèboThary portfolio, 29.9% BrevAn Oolphin
discretionary portfolio. and 40.5% Bail1* Grfford Managed B Acc. UK equities delI￿red a lolal relurn of -18.IYts Ovtr Ine
penod 7-10 year gills dalivered a lotal return of +2 5Y0 3fi(J the $0..50 composite index fell_7 2P/o Iquarterfy re4>alancedl The
compogle relum of lh& Willan 4M)rtfolio was 5.940/0.
Global equity marke15 declined .?3.￿ on Covid-19 conc8m8 belor8 staging a rapid recovery SUPfN)rt8d by Jnprecedenied
I￿ulditY from rknlral banks and emergency govemmeni Stimulus mèasures. For ihÈ full year 9lobal èouitieg dalivered a loial
turn of +8.5%. global govemm8ni bonds17-tfyrl re￿rned *3 4%. yold rose 428.1Yts. and copper rose 417.1QA. In contrast,
UK equities fell-16 1.kn and gills rose jus1 +2.5¥o weig*ed down by d disprop0￿On3teIY negative COVKI impaGI. slalling Brexit
negoliallons and the FTSE'S ovevweighl skew lo cydicallvalue 5eclors. Oil fell .31 fj% as global travel effeclively ceased.
enwgy siocks lell -46.4Y* and financial St(￿kS fell -18.4Y, lihe two sectors account for 28Vo ol the FTSE 100 Indexl. US
Stocks 1+16.1%) Hnd parbcularfy technology stocks I*42.￿) conllnued lo 18ad lh8 marfL8is r8infordng Ihdr status as
winners regardless of the economL climate.
Performance of irte Ihlee inv8simÈni porttolios varied con5iderabty. The LJBS ￿rtfolIO fell .8.2% underperfotminy the
comp)slle benchmark which fell -7 2¥* Tho Brwtyin Dolphin portfolio also declined. falling 41.6% wttilsl Ihe 8aillie Gifford
Portfdio rose +26.5%. Sterling fell-2.?/ry vs Ihfr Euro and rose *5.1Yo vs. the US d￿lar Impacting the portfolios InlemalioDally
domiciled allrtaiions. Gills which make up 50/. of the composi18 benchmark siron9ly oulp&rfomed UK equiiios during the
year ¢￿aling a hea(Mind for all 3 portfolios which are significantly 0VeN￿1ght equilie5 As the LJBS p(KEfolio is predominantly
In￿sted in UK as$81s Ils performance fflosl cleady rellgcls this negalwe allocation deci51on. UBS and also have
exposure lo REITS whi¢n n8ga14V￿Y ImpaGled performance. Brewin and Baillie Giffortt benefilled considerably froxn th￿r
18maiKJnal éxrK)surè ano lo a ks5er deg￿e from Ihelr ov8rwei9hl allocaiion ID inflauon linked and corporate bonds vs
govefflmenl ￿ndS Ba￿ll1e Gfftord delh¢r8d a s￿9gering pÈrftrrm8n¢e. oulpèrfomiing the Other portfolios bolh dJrfn9 th8
arkel decline and also during Ihe recovery. BailliÈ Gifford holds a $ignifi¢aTrl prOport￿n of asseis in Ihe US and has a high
gxrrf)5Jre 10 sm911 cap. gfovrth and US tech sloGks (ILS singk 1grges1 Industry allwalion Is Inlwnel stocks.. 16.4% NAVI whtGh
perform￿ iTrcredibty well dudThJ ll)8 year Ils laryest holding was Te51a Ylhich rose 79OV*
Total intsi8$1 and divKlend income E467.833 equal io a yleld of apwoximaiely 2.3'k. Thls 5$ consk8ienl wlh tolh hislort
Itrve1s, and Ihe ItUSlees' expectations. Tha ovetsll valu& of inveslm8nis rostr 2.7% Ina of fees and di$idbuih)nsl lo
0,764,263.

THE 1589 WILLAN CWITABLE TRUST
TRUSTEES. REPORT-Year Ended 30th September 2020 Icontlnuedl
REVIEW OF GRANT MAKING ACTIVITIES
TtE Charity awarded 75 grants lolallin9 £504.320 in Ihe financial year compared lo the 87 grants tolalling £509.443 madt in
2019. The yeTr8ral mak8 up of Ihe granls awarded is compaiable vAlh Pre¥￿￿S years and the increase in Ihe averag8 9rant
(from £5,855 10 £6.7241 is rèllpclNe of any change in wliay on the part of the Iruslees.
With effect from September 2020, the Charity has eniared into a Philanthropy Agreèmeni wlh Tha Communlly
Foun(lalion. who wlll b8 responsible lor payfflenls ol grants lunder the new a9reem8nll and sMII administer these from Ihg
funds h8ld. Any monies paid lo TtE C(xninunily Foundat￿Tr uThJer ￿e rEw 8greemenl will become an irrevocable grft. In
September 2020, £125.(N)O was d(K￿led to The Communily Found¥lion. lo b8 di$lribuled In accordance with Ir
Philanthropy Agreement.
In addition lo the grant rnakiry activity ovllined above. Charity glfied an addnlonal £73.500 in low lo the unlversilies of
SunderL4nd. Teesside. Newcastle and Northumbria. in ordèr to providtr support 10 graduates seeklng 10 fund viab￿.
sust¥in8bP8 n8w bu81n888 ventu￿8.12019.. £63.5001.
AS detailed In Iht accountin9 poliBy.' gifts in kind, the charily also rnade effective don*ron$ totrllinu £37.18512019- £39.8001
in re5PeGt of lease atrangpments made ￿th other charilable organisaltons to provkle a¢￿$5 to accoMrnc￿at10n al a b2lc>w
matkel value rental.
The trustees believe the Se￿￿e5 of the Communlly Foundaibn are dellverlng raal value Sn helpSng If* Iruste8s to ident
¢auses consislenl with the slated aims and objeGtives of the Charity. In addition. th8 Irustet$ f8cognise th81 the
8dminislralion lees paid by the Charity lo Ihe C(xnmurwly Foundation indirecly support the charitable purposes ol the
C￿MunitY Foundation itself which are wholty consi5tsnl vAlh those of the Chgrily.
FuNDR￿sING DISCLOSURES
The Charity is required lo reporf how 11 deals wllh tundraisln9 frcNr the publK. The Charity does noi actively fundraise aryj
seeks lo continue ils support to appropriait charitable Gauses through the careful 51e¥vardship of ts existing funds. rectriv
from the Willan family.
PLANS FOR FUTURE YEARS
The Iruslees do not anlicipale significant chang8S to Ihe siruciure. res(￿r¢•$ and op$raih)ns of lh8 Chadly In lh8 fore$eeab18
rulure. However. lo the extent that suii¥bL* ¢haniablè projects may be idènlifvad, tho INslees may ¢onslder 8lloc8ling a
portion ol the Charily's grani making capa￿ty lo providing svJnifiGanl support lo a limi18d number of SPBGific charilab
projects
STATEMENT OF TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENT$
The Charilyb lYuslee¥ are mponsible for preparing the Irustees, annual rewrt al￿ the financial statements in accordanc8
with the Uniled Kingdom A¢¢ounling Standards Iuniled Kinglom Generally Ac￿pIed Accounting Practice) and aP￿iCab
18w¥nd raguL￿tron5.
The law applicable to charthes in ETrgL4nd and Wales requires Ihe Iruslees lo prep8re financial st¥lements for each financial
year. Under Ihal law the Iruslees have ele¢ied lo prepare th& financk81 $1818m&nls in 8c¢ordance with Flnancial Reporting
Standard applicable In IIE United Kingdom IFRS 1021. The Iruslees tnusl not approv8 th8 financial slalem8nl$ unless they
are 5a115fied that they give ¥ Irue and fair wesy of the stale of affairs of the Charity and Ihe incomg and exp8TrJilure of th
Charity lor ihal p8rlod. In pr8parin9 these financial statements, Ihe trustees are required lo.
- Se￿Ct suitable accounting p)licies and then ￿p￿Y Ihetn consislenlty.,
- observe Ihe methods and principles in the CharilEs SORP,.
mak8 judgements and eslimales Ihal are raasonablo and prudeni..
late whelher applkabl8 acGounting ￿t￿￿9rd$ hgve bew folbwed. subject to any maleri?I depgrtures discbsed aThl
explained in the financial staletnents.,
prepare the fin￿CIal slatem8nls on tha wing concern basis ￿n￿sS it is inappropriate lo presume that thè chadly WII
continue In operaik)n.
The twslees are resp)nsSbl8 lor k8eping proppr accounting reGords that discJ05e with reasonable 8cwraGy at any tim8 the
rinanckql posilh)n of Ihe charity and enable them to ensure that Ihe financial slalemenls comply *ilh ihe Charibe5 Act 2011.
the appliGabie Charities (Accounts ar￿ Reports) R8gulallons, and the prowsions of the consiiiuiion. The Iruslees are also
r•spDnsible lor safeguarding Ihe a$s81s of Iha charity and htnB8 lor lakin9 reasonat￿8 sleps for the p￿￿￿on and delecllon
oltraud ar￿ other Irregubrilies.
AUDITOR
A resolution to ro-appoinl MHA Tail Walker as aU￿￿OrfOr the ensurlng yearvAII b& proposad at th? Annual Genaral ￿￿etIng.
￿pro￿ by Trnsiees un
21 2011
and Signed en their behalf by..
Twslge
A Ohlsson
Elre¢lor

THE 1989 WILL￿￿ CHARITABLE TRUST
IWDEPENDENT AUDITORS. REPORT YO THE TRVSTEES Year Enrf*d 30th $ept•rnber 2020
Oplnlon
We have audited th$ fin)n¢ial $1)lemenls of The 1989 W1118n Tw$1 Ilhe 'charily'l for the year ended 30 SeplOmt*r 2020,
whr¢h comprise the Slalemenl of Financial A¢liVilies, Balance Sheet, Statement ol Cash Flows 8nd Notes lo the FinanGial
Stalemenis, including a summ8ry of significani accourning wlicifrs. The financ181 reporting fr8meL¥ork Ihal has been 3pplied
In Iheir preparation is Uni18d Kingdom Accounting Stsndatds. compri5iny Charilies SORP - FRS 102 The Financial
RepDrtsng Stsndarf appiicatAe In UK and R¢publi¢ of Ir4and' and applioble law iunil¢U KINgdom G￿e[allY Acc8Pléd
Accounting pract￿e)
In our Opin￿ the finamal slaiernenls.
gwe a true lair vw¥ of the 51ale of lh8 ch8rily's affairs as 81 30 Seplsmt*r 2020 and of Ils incomiThJ resources and
appllcaiion of resources. indudng lis income and ?xp8ndilui8. for the yearthen 8nd8d,.
have been propety prepared in accllrdan￿ wllh United Kmgdom Ger￿rallY A¢￿pIed Accounting Practice, arKI
have been prepared In accordance Wllh Ihè requlFements of ChariUe8 Aci 2011.
Baslsfor opinian
We conduGled our gu¢il in 8ccordanTr with International Siandards on Auditing IUKI IISAS IUKII and applKable law Our
re5wnsibililies under Ihose sl¥ndards are further dascAbsd in the Auditor's responsibililies for t1￿ avdil of the financial
s￿￿MentS seclioll of our report. We are indèp8nLÈni ol the ¢harily in accordance sviLh the eihi¢* wuiremenls Ihal are
rel8vani 10 our audit ol lh8 financial st*tmÈnis In the UK. Induding the FRC'S Ethical stsndard, and wè have fulfilled our
Olhw elh￿81 reswnsibilibe5 in ￿cordanCe wlh Ihese requirernenls. We telieve Ihal the audit evidence we have Db￿ne¢$ is
sufficient and approprK3le io provKJe a ba51s for our opinion.
Concluslon5 relatlng to 8olng concern
We have nolhing lo report in respect ol Ihe f01h)￿n9 mattets in rdation to wb¢h Ihs ISAS IUKI require us lo report lo you
where
Ihe Irustee5 use of the going wncern basis of accounting In Ihe preparation of the financial stat￿ents is not appropriate..
or
the I￿SteeS have not disdosed In Ihe financkql si818ments any idenlffiied maierkgl unc8rt8inlie5 Ih81 may cast significant
doubl about the charivs ability lo continue lo adopt Ihe going concern ba￿8 of aCC￿nIl￿g lor a pbyiod of al Wt twefve
months from th& dale when the financial slaiemen15 are aJlhorised for issue
o¢her Informatlon
Tha IriFSlees are resW)n5lb￿ for th8 other Informall￿. The other InfOr￿allOn comprises the information Includ￿ In the
annual oport. other than me financi81 siaiements and our auditor's report Ih&r8on. Our opinion on ihe finan￿al 51alemenls
does not cover the olher Inform81iM and. excapt to th& trxleni Othe￿1$8 explicitly sia16d in our ffport. we do not express any
ror¥n of assurance conclusion Ihereon
In connection ￿1th our audit of the financiql stat￿ents. our re¥N)nsibility is lo read the olhw Inlormalion and, In doing 50,
consider whether the other Inlomiallon is mateiially intonsi8teni with the financial slaiemenl$ or our knowledge obiained in
the audit or olherwjse appears ￿ be ma￿rially missisied. If we ideniily $u¢fv maieriai incons19ten￿es or apparenl m¥i$rlal
misslalefflgnls. ￿ are required 10 determine whe1￿[ iherÈ i% a material missiaLÈmeni in the finarLial Sialem￿lS or a
maleriBI misslalemeni of the other Inform81i(x). If. based on th8 work w8 have ptrform8d. con¢luda thai Ihere Is a
material mi8s1818meni of this other illfotmalion. we are required to rerrf)rt Ihal knl.
We have noihirKJ 10 rewrt in ihis rÈ9èrd.
Matters on whlch we are regulred to report byexceptton
In lighl ol our knowledge un(krsl8nding of Ihe chanly anLI ils enwronmenl oblaMe¢ In the cwrse of tho audit.
h8v8 not id8ntifiett maienal misslalernenls In IfE Trwlees. Annual Report.
We have nolNng to report kn resp8￿ of the follow4ry rnattets wthere ihe Charibe5 Act 2011 wuirès us 10 f8POrt io you rf, in
curokxnion.
. suifio$nl 8ccounllng records have kept.. (K retutns ad4uate fur audit have nDI betrn ￿ved from brarrth8s
noi ¥isiled by us, or
. the finanual 513lements are not in agreemenlwilh Ih? ac¢ouMiny records and reium$'. or
. certain disdosures of trustees remuneratiDn 5perAfied.
we have not recewed all Ihe inlDrrnalon and explanatio￿ we requrg for our audit.

THE 1989 WILLAN CHARITABLE TRLIST
INDepeMDeNT AUDITORS. REPORT TO THE TRUSTEES Year Ended 30th Sopt•mb8r 2020 l¢ontlnuedl
ststernent of trustees, r￿ponSIbIlItIeS
As explwned more fully in the Slaleffleni of TFustetrs' Rospon9ibililles in rèlaiion lo the flnancial 513lernenls Isel out on page
41, Ihe Iruslees are respr￿Si￿1e forthe preparation ol the financjal sta18mtrnig and for being Satisfi￿ ihal Ihey give a Irue and
fair and lor such internal control as the Iruslees deleimine is nece55ary 10 en8bl8 Ihe ￿epara1￿On of finanGial
siaiemenis thal are free from maienal missla￿￿ent, whether du8 lo fraud or etror
In ￿epar￿ng Ihe financial slaiemanls. th8 trJslees are reswnsible lor asses5iw Ihe Gharilys ability lo eonllnue as a going
con￿[n. disd0sing. as appliGablB, matt8rs related 10 goir¥J concem and using going conG9fn ba￿$ of accounting unless
Ihetruslees either intend 10 liquidate IhÈ charily or 10 tease operations. or have no r8alisbc alter￿￿ve bul io do $0.
Audltor's responslbllltlEsfor the audlt of the flnèr*lal 5tsternents
Our obFcli¥es are lo obtain reasonatye assurance about whether thè financial s￿lements as a whole are free fro￿ maierial
misslalomenl. whether du? lo fr￿1 or e￿or, and lo issue ao auditor's repDrt thai includes our opinion. Re3s￿abEe
assurance a hvJh level of assurance, bJl Is not a guarantee Ihal an audil conducted in ￿C0[￿anCe ISAS IUKI will
aNvay5 del￿1 a mal8riBI misstalem8nt when il exists Mi551aletnents Can arise fr￿￿ fraud or error and are considered
malenal rf. indiirydually or In Ihe aggregate. Ihey could reas(wbly b0 exp8ci*110 influ&￿e Ihe economiG deGislons of users
laken on Ihe basis ol these finarcial stalemen15
As part of an audil in a¢cordanc8 ISA8 IUKI. w& 8xèrcl$& prof8s8Lonal judgement and Ththntsln professional scepticism
Ihroughoul the aLKlil We also.
Identify and assess Ihtr risks ol material misstaiemeni of th8 financlal slalemenls. WhetI￿r due to fraud or eiror, design and
perform audit pr￿edureS re5FX)nsive lo I￿se risks. and obtain auttsl Èvidence Ihai is sufficlenl and apwopriate lo provide a
basis for our opnion The rrsk of ng14elecling g tnalgri41 mis51aiement resulidng from fraud is higher Ihan lor one rtsulling
from eiror. as fraud may Invofve Gollugon, forgery. Intentional offtis$ion$. misr8pr88enlalions, or the overnde ol internal
Control.
Obtain an understanding of iniemal coninls re￿Y8Tht 10 thè audil in order to desNJn audit prwedures th91 arè approkYiai8 In
the cirGurnslances. bul not forth2 purp(>se of expressing an ￿￿niOn the eff6¢livenes$ ot Ihe charity'5 internal control.
Evaluate Ihe approprialeness of accowtsng polKies us9d and the ￿SOnabiènfrSS ol accounts.ng 8Sllmale5 and related
disclosures rn￿1e by the iruslees.
Conclude on the approprialertess of the Irvsiees use of Ihe 90ing concern basis of aGcounling aNI, based on the audii
id8nce obiained, whether a material uncertsiniy exisis waied 10 events or condlions that may CBSI signific8ni doubt ry? the
charity's ability to Gonlinut as a going ¢oncem. If we ¢trrL1ud8 thai a maieiial uncertainly exists. we are required to draw
allenlion in our audilorfs rewrt lo the rela1￿j disclosures in financkgl s￿leMentS or. il such disclosures are inadewai*. 10
odify our opin￿￿ Our conclusions are based on the audit evidenc8 obiained up lo the dale of our audil(*s rewrt.
However. lulijre evenis QT condiiions may cause the charily lo cease io CDnlinua as & going concern.
Evaluatè the ovwall presentation. siructurÈ and content ol the financial sialemenls. Including the disclosures. and whether
Ihe financial statements represent the urvJefly4ng transactions and events In a manner that achieves fair p￿Sental10n.
ob￿1n suffjcieni appropriate audit evidénce regarding Ihe financial Infofmation of tho eniilles or busin8ss activity95 within
the charity lo expross an opinion ￿ Ihe financial siaiemenls. We are reswnS1b￿ for the dir8ciion. sur6rvLgron and
performance of ItrE charity audit. We ￿MaIn s(Aely restK>DSible for ouraudil opinh)n.
We communicate Wilh those charged wiu) gov8mance r8g8rding. among other Inatters. Ihe planned Scope and liming of
audit and si9nificani audit findings, including any ￿grtrf1CanI defici8n¢i&s in intern81 control that identify during oui audS1.
iJ5e OF the report
ThL5 retx>rt is made solely lo the chanly Iruslees, as a body, in artordanc8 Trmlh S8Cllon 144 01 the Charit￿$ kn12011 and
regtsl8lions ma(fe urTrder section 154 of Ihal Act Our work has been undertaken so that we might slate lo Ihe Iwslees IhosÈ
mailers we are raquired 10 slate 10 Irusie* in an audilUS' report and for no other purpose. To the full&st exlenl permilled by
law. sye do noi ac¢Èpi or assume re5PDnsitslily lo anyone Other than lh8 ch￿tY and rts Irusiefys 9s g body, for our aLK1il work.
f Ine opinions we have form
Simw Brown BA. ACA. DChA ISe(wor Slalulory Aullilorl
Forand on ￿half of MHA Tail Walker, S181ulory Audiior
Bulman HOUSÈ
Regent Centre
Gosforth
Newtèsde upon Tyne
NE33
Dale"...
VRI.
MHA Tait Walker is a tryading name tsf Tait Walker LLP

THE 1989 WILLAA CHARIYAALE TRUST
STATEMENT OF FINANCIAL ACTIVITIES. Year Ended 30th September 2020
Year anded
30 Sep 2020
Year eThJed
30 Sop 2019
Noies
INCOME
Ihcome from thjrltsble actl¥ltl8S
37,185
39,￿0
Other In￿rnIng resource5'.
Diwdends and Fixed Inieresi INell
466.92
527,613
Depo￿1 Inieresl Recwved
907
TOTAL INCOME
505,018
568,340
EXPENDITURE
cost of ral$lng funds..
Inve51meni Portfdio Manag8mèni Fees
42.864
37,539
Expfyndlttjre on charltable actlvltles..
Gifl in Kind
ost of Qranl Making
37.185
737.308
39,800
595,135
TOTAL EXPENDITURE
817.357
672,474
ReValuat￿n of Inveslmenl Property
ovemenl w Investments includiw Gains & Ltssses
728,465
416.370
NET MOVEMENT IN TRLIST FUND
416,126
300.624
Totsi fund5 brought forward
20.749,072
20.448,448
Totsl funds ￿rr68￿ lornard
21.16S,198
20.749,072

THE IM• WILLIN CIWtIT￿L£ TriI$T
LVICE SHEET.At 30th S•pt•rnb•i 1020
Xl8•p20a X** 2019
￿sEy8
248.384
2D311.241
¢UIIRE14T A88En
io
I￿.071
1S8.
CURRENT U*JlLIIIE¥
¢JM Y•w
IieTCVRRENT AS8ETS
TOTAL A8SET8 LESS CUIIREWY LIAaiuTIEg
.74•.0
NET A88ETS
TfdJST FIIIIO
IPW i)
21.18&19•
20.T4I.012

THE t9￿ WILLAN CKARITABLE TRUST
STATEMENT OF CASH FLOWS. At 30th September 2020
30 Sep 2020
30 Sep 2019
OPER4TING ACTIVITIES..
Nel Movement in Trust Fund
Adlu51ed for
MovemeThi on Inveslments inGludirrfJ Ggins Losses
Revalualiw of Investment Properly
Detrease I lincrea5el in Deblors
Increase in CreQilors
N&t Cash Oublow from Owratlny Activitiès
416,126
300.624
1728.4651
1418.3701
11,612
11.9091
60
1105.9831
1,909
120
1310.3101
INVESTING ACTIVlnES'.
Dividends afid Fixed Intere51
IDveslmgnl Managemenl Fees
Transfèrs from Portfoii05
ProGeeds from the sale ol Investmenl prO￿Y
1487.4221
42,884
600,000
80,000
1528.4721
37,539
745,000
Net Cash Inflow trom Inves￿￿9 A¢t1¥It￿8
255,44Z
254,067
IDECREASEI I INCREASE IN CASH CASH EQUIVALENTS
154.8681
148,084
CASH AND CASH EQUIVALENTS AT I OCTOBER
212,939
64.855
CASH CASH EQUIVALENTS Af 30 SEPTEMBER
158,071
212.939

TME 1989 WILLAN CHARITABLE TRUST
NOTES TO THE FINANCINL STATEMENTS. Yoar Endèd 30th S*ptomber 202
I. ACCOUNTING POLICIES
- ACCOUn￿ng Conventitsn.
Th8 f4nancial siaiÈmen15 have been prepared in accord8nce v￿th Accountin9 and Reporting by Charrfies. Sl8lemenl of
Recomrnended PiacliGe applicaljie lo charities prepanng their aGcounis in accordance ￿11￿ Financial Reportin9 siand8fd
applicable Ill th8 Uoiied lQngdom IFRS 1021- Icharllies SORP IFRS 10211. the FinancLHI Rewrting Slandard applicable in
the Unilèfj Kingth)m IFRS 1021 arKI lh9 Charilies Act 2011.
Thé 198P Willan Charita￿e Trusl me61s definption of a putAiG benefil enlily under FRS 102. Assets and li8bi&lies ale
initially recorded al historical cosi or Iransaction value unless olhetwise staled in Ihe rdevant accounling pD1￿Y noies. Th9
nancial stsieThents are wapared in $iertiry. whlGh 15 the lufjclional currency of the entity.
. Inve$tm•nt Propety-
Property is shown 81 ils faif valuè. which is taken lo egual its martel value. as eslimaled by Ihe IfU5tees. Any gain or b55 on
valualiw Is iaken to Ihe Sl8iemenl of Financial Activities Property is behj for the benfyfil ol UK R￿l￿tered Charilies and
the Iruslees ¢0 not r￿•Ve cc*nm8rclal rent bul account lor the value of comrnercial rent a5 rentsl Income and as
ch8rllabl& donaiion. As property is held for long term capital g8in and does not coniribule to Ihe n81 Income of The 1989
Willan Charitsble Trust. the Iru51ees belEve thai il is Ih8refor8 appropriate lo chargtrdtrpre¢ial￿n.
- In¥estm8nts-
Inve51menls are slated 81 Iheir fair value, which is taken lo equal the c105illg mid-markel value as al 30th September 2020.
Any gain or loss on Maluaiion is taken lo the Sklefflenl of Financral Activities.
- Prourommè Rèlated Investments-
PRI are separaiety held froffl the chanly's olh$r invesim8nls 8nd are ai net recoverable co81. The PRI represenl loans
ana equity Inveslmenls made by Ihe charily Into new $iart-up compani8$ y￿1￿ Iht potential 10 increasa ewnomic *tsvily arKJ
&mpk)ymenl in the North Easl ol England. Al each y&8r ènd. the ItU51eÈs assess th8 likelih(y)d of r8cDvery and provide
against Ihese invesln7enls, rgducing Iha value 01 inveslmen15. Where PRI are impaired al the year end, thè chariiy
charges 'charil8ble activilEs' ￿￿1h1n reswrces exptrrKJed. Where a gain is made uw)n dispDSal of a PRI, I￿n thè gain is
rewrted under Olh8r incoming ￿SoU￿$,.
- Dtrbtors-
Trade and other debl(Ks are rec(ynised al the sellL9m￿)I amount due aftw any trade dlscounl offered. Prepayment3 are
valued ai the amount propaid nel of any trade discounis du8.
. Cash at bank arbd In hand-
Cash al bank and in hand Inclu¢es cash and short iemi highly liquid inv8$1m6nis ¥￿th a s￿rt maiuriiy of thre8 months or
less from the dale ol acqui￿110￿ oror6ning of Ihe depo511 or %milar account.
- Credltor8 and provl$lons-
Creditors and provisions are recognised where the chanly has a pr85eni obligalion resulling from a pasi event Ihal wlll
probably resull in Ihe liansf￿ of fvnQs lo a third party and Ihfr amount due to seiii8 the obli9aiion can be measured or
esiimaled reliably Creditors and prow1510ns are nomally r8coynised 81 their selllèment am￿nI aftér all￿￿ts9 for any Ir8d8
discounts due.
Taxatltsft.
The chariiy 1$ exempt fr(xn lax on Irtclfe 8nd 98ins falling wlhin seBtion SD5 of the Taxes Acl 1988 or S&lits) 252 ef thè
T8Xal￿n of Chttrgèable Gains Act 199210 the e￿ent thai these are applrdd 1¢ lis charitable obj￿1$.
Income Is recognised when tha charity has entillemenl lo Ihe Iijnds. any perforrnance condibons all¥hed lo Ihe ilEm or
ncome ha￿ been m￿, il is probatAe Ihal the incomewll be recewed and the 8mouni can be maasured reuably.
Irrcome from govèmmenl and other grants. whoihei c8piial' g￿nts or'revtrnue, grants, is recognised byhen lh& charity has
eniillemenl lo Ihe fund5. any porformance condillons aliach8d to the granis have beÈn MÈI. il is probable thai Ihe income wll
B receivEd and the amount can b8 mwa5ured reliably and b not deferred.
Inlwasl reCe￿ab￿ is ￿tOgnIsed on a receivablg ba&s. vth8n the arn￿￿1 can b8 m8asur8d rdiably- Ihls is n¢Thally upon
Th)IIflc81ion of interest pat(1 or payabl8 by the bank.
. Investrnonts Income-
Inv8simeni In￿M￿ is tsccounled for in the period In which the Charity Is entil￿d 10 rec•pt.
10

THE 1989 WILLM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS. Yoai Endèd 30th swOm￿r 2020
1. ACCOUMTING POLICIES I￿ntInued)
- Gwt In Ifjn
Incorne fr(Kn ctynmerclal tradin9 a¢livilies is reco9nised as earned Ias r81818d 9othYs and servKes ai? proV￿e￿I and as
Ihe fenlal and Servi￿ charge falls due Inwrne regard9¢ as "Renial Income frorn PrOpe￿eS. is included as a gift in kind
based on the mart81 reTht￿ value of each property. This is due 10 the chariiy entsrin9 into l&ase arran9emenls wllh charitablè
organisalion5 to provKle accornmodalion lo ihostr or9anisalions al balow mark81 ranlal and often for £Nil consideration.
Th& Itu$iÈ&s recoynise Ihal in doing so, these lype ol Irw5acliws continue lo furlher Ihwr charity's (l>jecliv* aNI ar8 simllar
10 the charity providing donati￿$ lo these other Chan18b￿ organisalions. As a resull the Iruslee5 have recorded Ihe marf(el
value of the prcoerty rentsl as"IKome from Charitable Activit￿$ - Rentsi Incom& from Propertle8" and an Identical charye
Included 83 a "Gift in Kind" as part ol Resources Eyknded in Ihe SOFA. This has a £Nil imp8cI on the reFQrted re5uII for
Ihe year. bul retrty)nisÈs bt>ln ihe incoffle that would be olhwwise reTr￿￿ and th? effEclive donaiion m*Je. This trealm￿L
does irnpacl upon the basis for hdding these properth?s. for their c8pits1 gain polenlial ralher than Ih&r social puiposè.
. Expendltstr•
ExpendilUf8 Is rncr*Jnised on¢0 Ih¢ffj is a legal or conslwcb¥e obliggtion 10 make g paymeni 10 a Ihird party. il is probab
thai settlernert will bp rewired and the amounl of the oblvJ81iw can be me8sured reliabty Expenditure is cL4S￿rIed under
Ihefoltokwng ¥ciiviiy headin9S.
Costs of raising funds aE those costs of investments managemeni fees, logelherwlh Iheirassoualed support Costs
Expgndllure on ¢harii8ble 8cllvll￿S indudes th& ￿S15 aSXtiaièJ with the prov￿10￿ of grant making and include both I
direci C¢￿1$ and supwrt costs rèlating 10 tho athvrties of the Ghanly.
Other txpèndilwe represenis Ih05e item5 nol falling into any olhef headiny.
jrrac0ve￿bk VAT is ¢bai9ed as a cost against Ihe ￿tlY41y for which ihe exppndlture Wd5 In¢￿rred.
- Donawons to the Communlty Foundatlon-
With elfeci from Sep18mb&r 2020. Ihe Charily has énierad into a new Philanihropy Agreement Wilh The communily
Foundation. WAII b6 r68ponsible payments of gran￿ lurKJer the new agreèmenii ar￿ wll admlnisier these ffom I
funds held. Any mcnies p81d lo The Community Foth4aiiM und8r th& rw a9lt8menl wlll becom8 an Irrevocable gfft.
Donations lo The Communily Foundat￿n a￿ ￿tOgnIsed wilhin ttssi of 9rani makin9 in Ihe SOFA.
- Fund Accountlng"
Th& trustèès have adopted an absolule return approach lo Investment. aimiro lo gererale la￿ dislribulel a real rtr￿m on
thè Chaiily's assels averaging per annum over the econ(Knr ¢ycle. The Tru51 Deed make5 no material dislinclion
betw￿￿ Ihe dislrityuilon ol capital ana lh8 dlslrfbullon of Income henc8 the balanc8 of Ihe Trusi Fun(1 is nol segregated
between Iheffl.
- Golnu Conctm-
The Iruslees have revEwed aciivilies and prepa￿d a iisk assessrnenl lo enable them lo consider the IinanGial posi110n ol the
organisalion In light of the ongoing siluaiion In rd81ion lo th8 Covld-19 wirus On Co￿lUsIOn of this work Ihe Iruslees. hawng
Wn5idered boih Ihe significant I&v81 of Cash and invesiments he￿ by lh8 charity consider Ih81 Ihere 8r8 no materi
uncertainlie$ regardin9 th& charilys atslily to Gonlinue as a going concern lor IhB nexl 12 ￿Onih$.
2. INCOME FROM CHARITABLE ACTIVITIES
30 Sép 2020
30 Sep 2019
Rental Inceme from properties
37.185
39.800
3. INVESThIENT INCOME
30 sep 2020
30 Sep 2019
UK Equi158S
UK Fixed InteFesl
UK Unil Tru51s
Non UK Equllies
Non UK Unil Trusts
Non UK Flxed Inleresi
Aiiemaiive Investments
275,133
15,792
53,140
4S,811
67,373
3,660
fj,017
339.036
23.941
23.392
76,749
52,493
7.259
4.743
466.926
527,613
4. TRUSTEES. REMUNERAMON
No solaries or w8ges have b88n pawl 10 employees, including Ihtr m8mbèrs of the ccmmiliè& duiing the ye8r12019-Nonel

THE 1989 WILLAN CHNRITABLE TRiIST
NOTES TO THE FINANCIAL STATEMENT$- Y•ar Ended 30th 58Pt8mb8r 2020
5. GIFTS IN KINO
30 Sep 2020
30 Sep 2019
Rental donat￿￿$
37,185
39.800
6. COST OF GIUNT MAXING
30 Sep 2020
30 Sep 2019
Granls Awdr(le(I
Donaiions io The commu￿tY Foun(Sah
Donalions lo universib.es
Donaiion 10 purthase fund property
PIKJr Year Dollaligns Return
Adminisiralion fees
Audit al￿ Accountancy fees
Property expens$s
Bank charges
)ar(l exFenses
504,320
125.0(Kl
73.5(
5.0(K)
19.443
63.S)O
15.0001
21.600
5.400
22.450
5.520
1,488
132
737.308
595,135
Amalysls of Grants Awarded:.
By Sect
8uilding our children's fuiure121 grants. 20t9- 23 giants)
Improving health 12g grants. 2019- 31 gfanlsl
Taking part in wtntnunity life121 granis. 2019- 30 grants)
Enjoying later lffe14 granls, 2019- 3 granisl
130.605
200,856
159,359
13,5LKI
119,938
207,619
162,242
19,644
Total175 gr8nts, 2019. 87 gran151
504,320
$09,443
By Roion
Dartinglon12 grants, 2019- 3gr8n151
rham117 grants. 2019- 9 gfanisl
Galeshead11 grani, 2019- 8 9rani$l
Harilep(xl11 granl. 2019- 4 grants)
Middlesbrough15 granis. 2019- 5 granisl
Newcaslle114 giants, 2019- 15 granls)
North Tyneside18 grants, 2019- 3 gr8n151
Northumberland 112 gr¥nls. 2019- 15 9rantsl
s￿1h Tyne81de ie 9ranis, 2019 6 grants)
siocklon12 yranls. 2019- 3 gran151
SunderLqnd16 grants, 2019- 11 yranisl
of Ar&811 grant, 2019- 4 grafjlsl
Redcai10 grants, 2019- 1 granll
10.0(X)
109.598
1,860
4.4
41,369
121,805
57,5C
65,3LN)
39,672
15,0(X)
37.016
I,0(K)
12,MO
57,624
35.195
15,927
39,458
104,e31
17,100
76,￿5
37.170
14.340
79.533
9,000
10.WO
Toial17S gran15. 2019- 87 wants)
504.320
509.443
y Sizè of Grani
£10.001 or ovef119ranl, 2019- 0 granisl
£5,(A)1410.000136 grants. 2019- 40 grants)
£1.(N)1-5.000138 grants, 2019- 42 orani$l
EI.000 or ￿sSIO grants. 2019- 5 gr3nls1
250(
334,81
144,514
351.$02
155.441
2,￿0
Total175 9Fanis, 2019- 87 9ranisl
504,320
509.443
By Type of Recipieni
lo Individuals10 grants. 2019- 4 grants)
P￿d to InslilulKJns175 grants, 2019- 83 grants)
2.000
501.443
504.320
Tolal 175 wgnts. 2019- 87 grants)
504.320
509,443
12

THE 1989 WILLAN CHARITABLE IRUST
NOTES TO THE FINANCI￿ STATEMENTS. Yoar End￿ 30th 9gptsmbgr 2O2Q
6. COST OF GRANT MAKING l¢ontlnuedJ
Analy¥l$ ol Donotfjons to lJnlvarsI￿O8..-
Te&ssKJti Universily
Sunderland Univwslly
Northumbria Univetslly
30.￿0
30.50D
13.(M)D
41,WO
17,500
83,$00
As deiailed in Note 7 th8 Tru51 own5 property wmich 15 lel lo regisiered charities al peppercorn reDlal. The comfflerGial value
ol the rÈntsl forthe ￿riod was approximaldy £37,18512019- £39.8001. TVE8e arn(￿￿1$ have been shown as rental Incom&
and a5 donaliws. A full lisb.rg of grants 8wardèJ is a¥81L8￿e on request from the Community Fouftdalion al Ihe address
IIs18d on pa9& 1.
Hald for
long term
Held for
I￿9 ie
T. INVESTMENT PROPERTY
Held forsale
Held for sa
Summary
C051 or valuation ai beginning of pèriod
thsposais
Transf￿10 ttekl lor Sale
Revaluaiions in y68r
2020
2020
20tg
2019
80.(Th)
180.0001
248.384
339.996
80.(M)O
IBO,OWI
Cost or valualh)n 81 end of perfod
248,384
80,￿0
248.384
Held for
low ￿1rn
Held for
long lelm
Held for sale
Held lor8afe
By property-
2020
2020
2019
2019
19a Li)vAhian RO￿1, Hamlepool TS24 88H
15 Taylor Slreei, Bl>th. Northumberfand NE24 SNA
77 Vine Stre81, South Shields. Tyne & Wear NE33 4RG
15 Chichester Road. South Shields, Tyne & W8ar NE33 4A
96 NorthL￿￿￿e Slfeel, Gateshead. Tyne & Wear NE8 4A
1(NJ Hallside Road, Blyih, Nothumbertand. NE24 SPF
80000
34,666
49,195
50.661
53,420
60,442
34.666
49.195
50.661
53.420
60.442
248,384
80.fy)0
248.384
All ol the above woperties 3re Irgthold apart from 96 Pl)rthb)Ur￿ sireei which is leasehold.
The Iruslees believe the mark61 valut of the properties hdd for the long lerffl, are equal 10 Ih*r hisioric cosi of £248,384
12019 . 248,3841 In April 2020. Imsites completèd thè $2le of 19a Lowulkan Road 10 a rÈ9isbred charity lor a
onsilleraliofj of£80,0(M).
19a Lowlhian Road was puitha5ed du￿￿9 the year ende¢ 2010 and was let lo a regslered Gh8rity for a pep￿[Corn reni. T
commercial valu8 of Ihe rent for 19a Lowlhion Road up lo the dale ol sale was approximately e5.985 12019. £9.81K)I.
15 T8yloi Stre81 was purchased on 17th June 2014 and was let Irom 20th August 2014 lo a regislered charity for a
Pep￿rCoM rent. The commercial volw of rent for 15 Taylor Street Is approximately £5.760 perannum.12019.. £5.5201.
77 Vine sireei. 15 ChiGhesler Road. 8ThY ￿ Northb)ume Slreel were purchased on 11th Seplember 2014. 261h September
2014 and 11th Augus12014 respeclbjely and ar8181 lo a reglsiered charfly for a p8pparcc¥T rent. The commercial value of
the rentlgr these properties Is approximaiely £18,960 per annum.12019-. £18,240).
100 Hallside Roal, purchased on 12th Nov8mbef 2014 and was lei frcm 4th February 2015 10 s re918tered chanly fora
peppprGorn rBnt The commercial valu8 of th8 rent for 100 Hallside Road 1> appr0￿MatelY £6.480 per anftum. 12019.. £6.2401.
The lill? deeds of Ihe properties are currently held In Ihe name ol Willan Propertlos No1 Llmiled. Wi11an Propertie5 No2
Limited and Willan TnJ51ee Limite¢ as the charily is unincorporated and is not able lo hold propeffy ¢ireclly. All three
companies are wnlrolled by Ihe trusiees ol the chafjly IW1118n Trustee Llmiied baSng a tru81ee dlr8ciiyl Iheref¢Ke have
takén ih& view that the properties are beneficially Med by ihe thariiy.
13

IHE 19W WILLAN CHhRITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- Year Endad 30th s8p1am￿r 2020
8. INVESTMENTS
30 Sep 2020
30 S8p 2019
ma￿et value al beginning of y8ar
Income
Exptrnses
Wilhdrawals
Pknyemenl on invesifflents inEWing Gains and Loss88
20,211.240
467,422
142,8641
1600.0001
726,465
20.048.937
526.472
137,5391
1745,0001
416.370
hnarkei value Ai year ¢n¢
20,764.263
20.211.240
d as foll￿:.
UK Equllies
UK Fixed Interest
UK UnilTru818
Non UK EquiUe5
Non UK Unil Trusts
All&rnaiive ifft51ments
Investment t)e8ling ACc￿niS
Accrued Management Fees
12,282.$63
2.552.835
330.805
1.811.538
2,748.018
1,254.509
1.194.215
457,378
4,172.921
658.47e
213.640
20.764.263
20,211.240
Hekj by'.-
Portlollo
Turnover 1%)
18.60°
80.54%
NIA
Brewln Dolphin Newcast1e- Dlscrebonary portf￿10
UBS AG NÈweaslle- D￿cre11￿n8ry portlolio
Ball1￿ Gifford- investsneni portlolio
8.203.849
8.143.008
8,417,406
6,549.036
7,010.115
8,652.089
20.764.263
2Q,211.240
Oi5creUonary investment wrtrolbs are mana9èd by BraV￿n Ddphin NÈw¢aslle. UBS AG NeW¢aSll$ and Ball1￿ Grfford. Al
30th SeplemiEr 2￿0, the porttolh)s did not includ8 any indNidual investments whose market Valutr vrds greater than 5% of
the market value ol Ihe I0￿1{2019-1￿1ntrI.
Hislonc Cost
16.688.731
16.685.422
9. PROGRAMME RELATED INVESTMENTS
30 Sep 2020
30 Sep 2019
As ai 1 Octo￿[
Addilion5- Komot￿n Limited
A5 al 30 Seplemb8r
25.L
25.QOO
As ai l Ociober
Impairfflenl- Komouon Limited
A8 ai 30 S8Pternber
125.OtM)I
I25,￿0>
PRI Balan￿5 as al 30 Seplemt*r 2020
PRI 831anGe5 as at 30 SeptemtÉr 2019
In 2018, ihe charity mada an 84uily Invesimeni in Komotion Limilerj, a new sL3rt-up company with the PDlenlial itr incr&ase
economic aGlivlty and employmani in the North Eas1 of Efig￿nd. As al 30 Seplgmber 2018, the Twslges ¥vgre of the opinion
that the inve51menl should be fully Impalr8d given ils Èarty stage develowenl. Hgving rwvmed the PRI posthon at 30
September 2020. the Tmsiees have agree(1 the Inveskneol should remain fulw impaired.
10. DE8TORS
30 Sep 2020
30 Sep 2019
Other debtors
1.00
14

THE 1989 WILLAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- Year Enrted 30th S8Ptember 2020
t1. CREDITORS.. Amounts FalllTh9 Due Wllhln On8 Yeai
30 Sgp 2020
30 Sep 2019
Audil fee
5.520
5.4(
12. TRUST FUND
ThÈ trustee5 have adopted an absolute return appioach lo inveslmenl. aiming to 9oneraia land disiribultrl a real relurn on
the Ch¥nlls assets averaying per annum ovor Ihe econcmk Cyc￿. The Trust Deed makes no ma￿rial disiinction
beiween lh& dislribulion of c8plal and the disiribulion of inc(Mne and ￿￿¢8 Ihg babnGe of the Tru51 Fund is not segregated
bÈiwe9n them.
13. ANALYSIS OF NET ASSETS BEMEEN FUNDS
Tangible
FiKed Assets Inveslmenls
Nel Current
Assets
Unreslrictsd FuThJ$
248.384
20.764,263
152.551
21.185,198
14. RELATED PARTY TrANSACTIONS
Mr A Ohlsson. Iruslee. is 3 direclor of Carfton Managemenl SeFvrces Limited, the Gompany pro¥iding the aCco￿ling and
administrative servlces lo the Charity. There was no charge madg In re$pgcI of such semces and no oulslanding balances
ai Ihe year end
Mr A Ohl550n Mr A Chapman. Irusl8&S, are dlr6Ctors of Somer5ton Ventures Limit￿1. g company also hokl 8 S%
eouity Sh8re In Komolion Limlted.
15. CAPITAL COMMITMENT5
The Charity has no ¢aptsl commilmenls al the yeaf end12019- None).
16. CONTNGENT LIABILITIES
Th? Charity has no conllnganl liqknll1￿S ai the year end1201g- Nonel.
17. POST BALANCE SHEET EVENTS
Sinc8 IhÈ balancp sheel dale. Ihe g1ob31 disruption caused by Covid-19 during 2Q20 is con11nuing Into 2021. The siluaiion Is
rasi changing and the scale ol Ihe impaci on lh8 ylobal economy. on caprtal markets and on individual busine$5e5 remains
uncértain The amounts $18ied in thèse finanaal 51atefflents Tef*Gt condit￿￿ e￿￿tIng as al the bal&nce sheel dale as th?
impact ol Covid-19 is con&dèred a non-adju51ing e￿nI.
The discreb"onary Snv88imeni PLffilolios. hekl by the charity. havo Seen an I￿re¥s8 In Yalue since ihe year 8rwJ. Should Ihe
value f811. the portfolios are highly liqui¢. and the Inveslmenl Mana98rs have thè ability 10 rebalance th8 porttolios
accofdingEy, in response lo chang1ng market condilions. The approach iaken by the Trusiees. as the portfolios have a
medium iem) inveslmenl honzon. Is lo hold Ihtr invesimeni portfoliDS during the markel volalilily caused by Co%ryd-19. The
Ttuslees plan lo conlinw wilh the Grani making acliwlies. dislllbuling tye￿9en £500.000 and £600.LKIO per ¥DnJm.
18. ULTIMATE CONTROLLING PARTY
In the 0￿￿1)n of th? Iruslees thera no uMim818 ¢oniwlling partyolh¥th3n the Iruslees.
15