REGISTERED CHARITY NUMBER: 103633
REPORT OF THE TRUSTEES AND
UP4AUDITED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 29 SEPTEMBER 2023
FOR
THE WALTER WATSON CHAIUTABLE TRUST
M.B.McGrady & Co
Chartered Accountallls
Raihmore House
52 Si Patricks Avenue
Downpalrick
Co. Down
BT30 6DS

THE WALTER WATSON CHARITABLE TRUST
Contents of the Financial Statements
FOR THE YEAR ENDED 29 SEPTEMBER 2023
Page
Report of the Trustees
Report of the Independent Auditors
Statement of Financial Activities
Balance Sheet
io
Cash Flow Statement
Notes to the Cash Flow Statement
12
Notes to the Financial Statements
3 to 18
Detailed Statement of Financial Activities
19

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2023
The tTUStees present their report with the financial statements of the charity for the year ended 29 September 2023. The
trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust exists to advance the Christian religion in any part of the world, and to help in the prevention and relief of
poverty, and the provision of healthcare and literacy* and the relief of ihose in need by reason of youth, age, ill-h¢alth,
disability or other disadvantage.
The Trust is presently governed by a trust deed dated 29th September 1989. The Trust is established for exclusively
charitable purposes and is a registered charity Wlth the Charity Commission for Northern Ireland, NICI 03633.
Significant activitie5
The core activities undertaken by the trust are distribution of monies to partnering organisations of similar objectives &
aims or to rnlS5ionaries in the field direct. Communication methods can be through literature or verbal teaching through
missionaries. Over the past year we have continu¢d to achieve many good things in terms of fulfilling our charitable
aims.
The Trust supports relief organisations operating throughout the world and responds to urgent situations requiring
medical and practical aid. The Trustees are satisfied that the distribution of fmancial ￿antS in 2022 has been in
accordance with the Trust's pU￿oses. The Trustees are satisfied that the fmancial position is strong. Administrative
expenditure is minimal and as the distribution of fmancial grants in th¢ year is deterniined by the level of donation
received in the same year, the Trust does not need to hold any significant amount in cash reserves. The trustees have
taken instruction on both the Charities Act 2008. They have considered in particular the obligations imposed under the
public benefits test of the Charities Act 2008 and can confm that the charity meets the criteria set down therein.
Walter Watson Charitable Trust became registered with The Charity Commission for Northern Ireland on 18 September
2015.
Publie benefit
One of the 12 charilable purposes in the Charities Act (Northern Ireland) 2008 is the advancement of religion for the
public benefit.The public benefit that flows from our purpose is Christ-centered Bible based Education, through
discipleship proclaiming the Gospel.The ultimate beneficiaries are people in the UK and throughout the world as grants
are provided to UK registered charities and charities operating in the developing world. Through the promotion of th¢
Christian Gospel, lives are transfonned and there is a public benefit to society as individuals live in accordaThce with
biblical values.
We seek to ensure the fmancial resources are making a difference by asking for regular feedback from our participants
across the various countries. This global partnering with charities enables the advancement of the Chrlstian religion
more efficiently & effectively.
The benefits cannot be physically measured. but can be demonstrated through a greater understanding of the Christian
religion, and thus a sense of hope in life, improved behaviour and contribution to the mental health and wellbeing to
those beneficiaries, who we reach with God's word.

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Achievements
In fmancial temis, the Trustee's key objective is to fund the advancement of the Christian religion in any part of the
world. During the year under review, the Trust awarded 151 grants totalling £603,755 to organisations recognised for
their work and experience in the areas specified. B¢nefi¢iaries are assessed and decisions are made based on our
understanding of their ability to use grants wisely in fulfilling their objectives, all￿ed to the Trust's objectives.
Restrictions on who can benefit
Given the broad range of organisations that receive grants fron) the Trust, there are no restrictions on who can ultimately
benefit from the Trust's activities in financially supporting those organisations who are providing services and
opportunities for the improvement of all.
Hami
In relation to the promotion of the Christian Gospel, whilst people are invited to embrace the Christian faith, any
response is entirely voluntary. Most of the Christian organisations supported by the Trust are long established and have
good reputations in promoting the Christian message, without pressure being exerted on anyone to accept it. It is
considered that the public benefits outweigh the potential hann,
Private benefit
Most grants are paid direct to registered charities and as such there should be no private benefit. Modest grants to
smaller local charities are considered incidental. Any private b¢nefit that may arise is considered incidental to the public
benefit.
FINANCIAL REVIEW
Financial position
In the year to 29 September 2023 the charity had net incoming resources in relation to unrestricted funds of £667,120,
with a ne¢ outgoing of unrestricted ￿lld$ of £612,623, resulting in a net surplus movement of £54,497 for the year.This
is compared to a deficit of {£33,126) in the year ended 29 Septembei 2022.
The charity does not hold restricted ￿ndS a5 at 29 September 2023.
Principal funding sources
The principal funding source of the charity during the year was that of renlal income.
The charity received grants and donations totalling £104,790 during the year. (2022.. £11,362).
Inveslment policy and objectives
Under the Trust Deed, the charity has the power to invest in any way the trustees wish, however in fonnulating an
investment policy, the charity has iecognised that whilst it may have surplus fAU)ds to invest, these are likely to be called
upon in the short term. The policy is to maintain high levels of capital security by minimising interest rate risk,
maximising returns and liquidity and maintaining low transaction costs.
Reserves policy
The trustees have taken advice from professional advisors in respect of the level of reserves necessary to meet legal and
fiscal obligations. In developing this policy factors which have been taken into account included, funding sources, future
needs, opportunities, economic conditions. and contingencies. A policy has established whereby unrestricted ￿ndS have
been designated to an investment ￿lld which will allow The Walter Watson Charitable Trust to achieve its charitable
objectives and provid¢ further development of land and property.
The charity holds free reserves of £593,275 (Total funds £8,206,803 less amount already spent on fixed assels of
£7,613,528). These reserves have been designated by the trustees towards the development of land and property and the
strategy is to continue to build reserves not merely to meet the charity's obligations but also to build surpluses which can
be re-invested in developing further services.

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2023
FINANCIAL REVIEW
Going concern
The Trustees have reviewed their business plan, forecasts and the level of reserves held by the trust. After making
enquiTies, the Trustees have a reasonable expectation that the trust has adequate resources to continue in operational
existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparkng the annual
report and fmancial statements.
FUTURE PLANS
The Trustees, main objective is to secure the longer-term fmancial viability of the organisation, by deriving a greater
return on its existing core activities & investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and Constitules an unincorporated charity.
Risk management
The trustees have a duty to identify and review the Tisks to which the charity is exposed and io ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
103633
Principal address
135 Ballylough Road
Castlewellan
Co. Down
BT319JQ
Trustees
Mr J W Watson
Mr R Trimble
rfvlrs S M Watson
Mr D J Watson
MrDWBarr
Auditors
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Dow
BT30 6DS
Solicitors
Michael F Curran
29 The Promenade
Newcastle
BT33 OAA

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2023
TRUSTEES, RESPONSIBILITY STATEMENT
The trustees are responsible for preparing the Report of the Trustees and the fmancial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland"
The law applicable to charities in Northern Ireland is the Charities Act (Northern Ireland) 2008 and the provisions of the
trust deed requires the trustees to prepare fmancial statements for each fmancial year which give a true and fair view of
the state of affairs of the charity and of the incoming r¢sources and application of resources, including the income and
expenditure, of the charity for that period. In preparing those fmancial statements, the trustees are required to
select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charity SORP.
- make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject lo any material departures disclosed and
explained in the fll)ancial statements.
prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the charity will
continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the fmancial position of the charity and to enable them to ensure that the fmancial statements comply with the Charities
Act (Northern Ireland) 2008, the CharÈty Convnission for Northern Ireland and the provisions of the trust deed. They are
also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and othei irregularities.
Approved by order of the board of trustee5 on 13 December 2023 and signed on its behalf by:
Mr J W Watson - Trustee

Report of the Independent Auditors to the Trustees of
The Walter Watson Charitable Trust
Opinion
We have audited the fmancial statemenls of The Walter Watson Charitable Trust (the 'charity') for the year ended
29 September 2023 which comprise the Statement of Financtal ActivRties, the Balance Sheet, the Cash Flow Statement
and notes to the fmancial statem¢nls, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the fmancial statements..
give a true and fair view of the state of the charity's affairs as at 29 September 2023 and of its incoming resources and
application of resources, for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practice, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International 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 section of OUT report. We are ind¢pendent of the charity 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 ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty relating to going concern
In auditing the fmancial statements, we have Concluded that the trustees, use of the going concern basis of accounting in
th¢ preparation of the fmancial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast st￿lfiCant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the fmancial statements are authorised for issue.
Our responsibilities and the responsibilities of the t￿SteeS with respect to going concem are descrtbed in the relevant
s¢ctions of this report.
Other information
The trustees are responsible for the oiher inforn]ation. The other infonnation comprises the inforniation included in the
Annual Report, other than the fmancial statements and our Report of the Independent Auditors thereon.
Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent otherwise
explicitly stated in our report. we do not express any form of assurance conclusion thereon.
In connection with our audit of the fmancial statement5, our responsibility is to read the other inforniation and, in doing
so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge
obtained in the audit or othenvise 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 a material misstatement in the
fmancial statements themselves. If, based on the work we have perforn]ed, we conclude that there is a material
misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Commission for Northern Ireland
requires us to report to you if, in our opinion..
the inforniation given in the Report of the Trustees is inconsistent in any material respect with the fmancial statements.
or
sufficient accounting records have not been kept. or
the fmancial statements are not in agreement with the accounting records and reMms' or
we have not received all the infonnation and explanations we require for our audit.

Report of the Independent Auditors to the Trustees of
The Walter Watson Charitable Trust
Responsibilities of Irustees
As explained more fully in the Trustees, Responsibilities Statement, the trustees are responsible for the preparation of the
financial statements which give a true and fair view, and for such internal control as the trustees detennine is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the f￿anCIal statements, the trnstees are responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do
so.

Report of the Independent Auditors to the Trustees of
The Walter Watson Charitable Trust
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 201 l and report in accordance with the Act
and relevant regulation5 made or having effect thereunder.
Our objective5 are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a R¢port of ihe Independent Auditors that 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 misstatement when it 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 of users taken on the basis of these fmancial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, was as follows:
the engagement parÈner ensured that the engagement team collectively had the appropriate competence, capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations.
we identified the laws and regulations applicable to the company ihrough discussions with directors and other
management, and from our commercial knowledge and experience of the computer component manufacturing and
supply sector.
we focused on specific laws and regulations which we considered may have a direct material effect on the fmancial
statements or the operations of the charity, including Charities Act (Northern Ireland) 2008, taxation legislation and data
protection, anti-bribery, employment, environmental and health and safety legislation.
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence- and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's f￿anCIal statements to material misstatement, including obtaining an
understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud. and
considering the int¢rnal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
perfonned analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions.
assessed whether judgements and assumptions made in detem)ining the accounting estimates set out in the notes were
indicative of potential bias. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included, but w¢re not limited to:
agreeing financial statement disclosures to underlying supporting documentation.
- reading the minutes of meetings of those charged with governance.
enquiring of management as to actual and polential litigation and claims. and
- reviewing correspondence with HMRC.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are
from fLnancial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also
limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and
other management and the inspection of regulatory and legal CO￿espOndenCe, if any.

Report of the Independent Auditors to the Tru5tee5 of
The Walter Watson Charitable Trust
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve
deliberate concealment or collusion.
A further description of our responsibilities for the audi¢ of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description fonns part of our Report of the
Independent Auditors.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'5 trustees those
matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pennitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this report, or for the opinions we have fornied.
M.B.Mc Grady
Chartered Acco
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
13 December 2023

THE WALTER WATSON CHARITABLE TRUST
Statement of Financial Activitles
FOR THE YEAR EI NDED 29 SEPTEMBII R 2023
2919123
Unrestricted
fund
2919122
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
104,790
11,362
Investment income
562,330
512,234
Total
667,120
523,596
EXPENDITURE ON
Raising funds
2,254
10,126
Charitable activities
Charitable activity
610,369
546,596
Total
012,623
556.722
NET INCOME/(EXPENDITURE)
54,497
(33,126)
RECONCILIATION OF FUNDS
Total funds brought forward
8,152,306
8,185,432
TOTAL FUNDS CARIUED FORWARD
8,206,803
8,152,306
The notes form part of these fmancial statements

THE WALTER WATSON CHARITABLE TRUST
Balance Sheet
29 SEPTEMBER 2023
2919123
Unrestri¢t¢d
fund
2919122
Total
funds
Notes
FIXED ASSETS
Investment property
io
7,613,528
7,560,528
CURRENT ASSETS
Debtors
Cash at bank
61,234
596,849
703,276
703,276
658,083
CREDITORS
Amounts falling due within one year
12
(i io,ooi)
(66,305)
NET CURRENT ASSETS
593,275
591,778
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,206,803
8,152,306
NET ASSETS
8,206,803
8,152,306
FUNDS
Unrestricted funds
13
8,206,803
8,152,306
TOTAL FUNDS
8,206,803
8,152,306
The f￿anCIal statements were approved by the Board of Trustees and authorised for issue on 13 December 2023 and
were Si￿ed on its behalf by..
Mr J W Walson - Trustee
The notes forn] part of these fmancial stalements
io

THE WALTER WATSON CHARITABLE TRUST
Cash Flow Statement
FOR THE YEAR ENDED 29 SEPTEMBER 2023
2919123
2919122
Notes
Cash flows from operating activities
Cash generated from operations
Inlerest paid
154,431
(185)
4,625
(185)
Net cash provided by operating activities
154,246
4,440
Cash flows from investing activilies
Purchase of investment property
Interest received
(53,000)
5,181
(95,645)
Net cash used in investing activities
(47,819)
(95,645)
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalent5 at the
beginning of the reporting period
106,427
(91,205)
596,849
688,054
Cash and eash equivalents at the end of
the reporting period
703,276
596,849
The notes fonn part of these fmancial statements

THE WALTER WATSON CHARITABLE TRUST
Notes to the Cash Flow Statement
FOR THE YEAR ENDED 29 SEPTEMBER 2023
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2919123
2919122
Net incomel(expenditure) for the reporting period (as per the
Statement of Financial Aetivities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease in debtors
Increasel(decrease) in creditors
54,497
(33,126)
4.562
(5,181)
185
61,234
43,696
185
38,684
(5,680)
Net Cash provided by operations
154,431
4,625
ANALYSIS OF CHANGES IN NET FUNDS
At 3019122
Cash flow
At 2919123
Net cash
Cash at bank
596,849
106,427
703,276
596,849
106,427
703,276
Total
596,849
106,427
703,276
The notes fomi part of these financial statements
12

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Slatements
FOR THE YEAR ENDED 29 SEPTEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the flnancial statements
The fmancial statements of the charitable trust, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Charities Act (Northern Ireland) 2008. The fmancial statements have been prepared under the
historical cost convention.
Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgments made in the process of preparing the fmancial statemenls ale continually evaluated and
are based on historical experi¢nce and other factors. including expectations of future events that are believed to
be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made
in applying the Trust's accounting policies or that there are any critical accounting estimates or assumptions
which may have a significant risk of causing a material adjustsnent to ¢anying amounts of assets and liabilities
within the next fmancial year.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expendi￿re as soon as there is a legal or constrnctive obligation conunitting the
charity to that expenditure, it is probable that a transfer of economkc benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but
not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in the Statement of Financial Activities.
Taxation
Th¢ charity is exempt from tax on its charilable activities.
Fund aeeounting
Unrestricted fvnds can be used in accordance with the Charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the fmancial statements.
13
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023
DONATIONS AND LEGACIES
2919123
2919122
Donations
104,790
11,362
INVESTMENT INCOME
2919123
2919122
Rents received
Deposit account interest
557,149
5,181
512,234
562,330
512,234
RAISING FUNDS
Raising donations and legacies
2919123
2919122
Insurance
Light and heat
Depreciation
(2,276)
(2,770)
4,793
4,562
(2376)
6,585
Investment management costs
2919123
2919122
Property repairs
Interest payable and similar charges
4,345
185
3,356
185
4,530
3,541
Aggregate amounts
2,254
10,126
14
continued...

THE WALTER W ATSON CHARITABLE TRUST
Notes to the Financial Statements - eontinued
FOR THE YEAR ENDED 29 SEPTEMBER 2023
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
Support
costs (see
note 7)
6)
Totals
Charitable activity
603,755
6,614
010?69
GRANTS PAYABLE
2919123
2919122
Charitable activity
603,755
505,246
SUPPORT COSTS
Governance
costs
Charitable activity
6,614
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 29 September 2023 nor for the year
ended 29 September 2022.
Trustees, expenses
There were no trustees, expenses paid for the year ended 29 September 2023 nor for the year ended
29 September 2022.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and legacies
11,362
Investment income
512,234
Total
523,596
EXPENDITURE ON
Raising funds
10,126
Charitable activities
Charitable activity
546,596
Total
556,722
NET INCOMEI(EXPENDITURE)
(33,126)
15
continued...

THE WALTER WATSON CHAIUTABLE TRUST
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - eontinued
Unrestricted
fund
RECONCILIATION OF FUNDS
Total funds brought forward
8,185,432
TOTAL FUNDS CARRIED FORWARD
8,152,306
io.
INVESTMENT PROPERTY
FAIR VALUE
At 30 September 2022
Additions
7,560,528
53,000
At 29 September 2023
7,613,528
NET BOOK VALUE
At 29 September 2023
7,613,528
At 29 September 2022
7,560,528
Fair value at 29 September 2023 is represented by:
Valuation in 2021
Cost
3,573,652
4,039,876
7,613,528
If investment property had not been revalued 2021 would have been included at the following historical cost:
2919123
2919122
Cost
4,039,876
3,986,876
Investment property was valued on an open market basis on 29 September 2021 by Colliers International
Valuation UK LLP.
16
ontinued...

THE WALTER WATSON CHARITABLE TRUST
Notes to th¢ Financial Statements- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023
ii.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2919123
2919122
Other debtors
61,234
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2919123
2919122
Taxation and social security
Other creditors
34,291
75,710
31,428
34,877
iio,ooi
66,305
13.
MOVEMENT IN FUNDS
Net
movement
in funds
At
3019122
At
2919123
Unrestricted funds
General fund
8,152,306
54,497
8,206,803
TOTAL FUNDS
8,152,306
54,497
8,206,803
Net movement in fimds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
667,120
(612,623)
54,497
TOTAL FUNDS
667,120
(612,623)
54,497
Cornparatives for movement in funds
Net
movement
in funds
At
3019121
At
2919122
Unrestricted funds
General fund
8,185,432
(33,126)
,152,306
TOTAL FUNDS
8,185,432
(33,126)
8,152,306
17
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023
13.
MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follow5:
Incoming
resources
Resources
expended
Movement
In funds
Unrestricted funds
General fund
523,596
(556,722)
(33,126)
TOTAL FufqDS
523,596
(556,722)
(33,126)
A cu￿ent year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
3019121
At
2919123
Unrestricted funds
General fvnd
8,185,432
21,371
8,206,803
TOTAL FUNDS
8,185,432
21,371
8,206,803
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows..
Incoming
resourees
Resources
expended
Movement
in funds
Unrestrieted funds
General fund
1,190,716
(1,169,345)
21,371
TOT AL FUNDS
1,190,716
(1,169,345)
21,371
14.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 29 September 2023.
18

THE WALTER WATSON CHARITABLE TRUST
Detailed Statement of Financial Aetivities
FOR THE YEAR ENDED 29 SEPTEMBER 2023
2919123
2919122
INCOME AND ENDOWMENTS
Donations and legacies
Donations
104,790
11,362
Investment income
Rents received
Deposit account interest
557,149
5,181
512,234
562,330
512,234
Total incoming resources
667,120
523,596
EXPENDITURE
Raising donations gnd legaeies
Insurance
Light and heat
Motor vehicles
(2,276)
(2,770)
4,793
4,562
(2,276)
6,585
Inveslment management costs
Property repairs
Bank interest
4?45
185
3,356
185
4,530
3,541
Charilable activities
Grants to individuals
603,755
505,246
Support cost5
Governance eosts
Accountancy and legal fees
6,614
41,350
Total resources expended
612,623
556,722
Iyet incomel(expenditure)
54,497
(33,126)
This page does not forni part of ihe statutory financial statements
19