REGISTERED CHARITY NUMBER: 103633
Report of the Trustees &nd
Financial Statements
FOR THE YEAR ENDED
29 September 2024
for
THE WALTER WATSON CHARITABLE TRUST
M.B.Mc Grady & Co
Chartered Accountants
Statutory Audttors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. DOWD
BT30 6DS

THE WALTER WATSON CHARITABLE TRUST
Contents of the Financial Statements
FOR THE YEAR ENDED 29 SEPTEMBER 2024
Page
Report of the Trustees
I to 4
Report of the Independent Auditors
5 to 8
SÉ2t¢ment of Fin#nci21 Activities
Balanee Sheet
io
Cash Floiv Statement
Notes to the Cash Flow Statenkent
12
Notes to the Flnandal Statements
13 to 19
Detailed SÉatement of Financial Actlvltles
20

THE WALTER WATSON CHAIUTABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
The trustees Present their Teport with the financial staternents of the chaTÈty for the year ended 29 Sepletnber 2024. 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 ACTKVITIES
Objectives and aims
The Tnjst exists to advance the Christian religion in any part of the Worl￿ and to help in the prevention and relief of
poverty, and the provision of healthcare and literncy, ￿T￿ the relief of those in need by reason of youth, age, ill_health,
disability or other disadvantage.
The Trust is presentIy governed by a trust deed dated 29th September 1989. The TDJSt is established for exclusively
¢haTittble purpose5 and is a registered charity with the ChaTity ComEnission for Northern Ireland, NIC103633.
Significant activities
The core activities undertaken by the trust are distribution of monies to partnering organisations of similar objectives
and aims or to missionaries in the field direct. Cornmullication methods c2n be througb literattre or verbal teaching
through missionaries. Over the past year we have continued to achieve many good things in tern]s of ￿lfilling our
charithble aims.
The TnL8t supports retief organisations operating throughout the world and responds to urgent situations r¢quiTiDg
medical and practical aid. The Trust￿$ are satisfied that the distribution of fll]ancial grants in 2024 has been in
accordance with the Tnjsvs PUTposes. The Trustees are satisfied that the financial position is strong. Administrative
expendimre is minimal 2nd as the distriblltion of financial grants in the year is detemitned by the level of donation
received in the same year, the Trust does not need to hold any significant amount in cash T¢5eryes. The trustees have
taken instruction on both the ch￿ltieS Act 2(M)8. They have considered in particular the obligattons imposed under the
publi¢ benefits test of the Charities Act 2008 and can confErni that the charity meets the critsria set down therein.
Walter Walson Charitable TrLst became registered with The Charity Commission for Northern Ireland on 18 September
2015.
Public benefit
One of the 12 charitable purposes in the Charities Act (Northern Treland) 2008 is the advancement of ￿lIgIon for the
public benefit.The public benefit that flows from our purpose is Christ-centered Bible based Education. throu21)
discipleship proclairning the Gospel.The ultimate beneficiaries are people in the UK and throughout the world ￿ grants
are provided to UK registered charities and charities operating in the developing world. Through the promotion of the
Cliristian Gospel, lives are transfornied and there 15 a public benefit to society as individuals live in accordan¢e with
biblieal values.
We seek to ensure the financial resources are making a difference by asking for regular feedback from our participants
acro55 t]ie various countries. Thi5 global partnering with charities enables the advan¢ern¢nl of the Christian religion
more efficiently and effectively.
The benefits cannot be physically measT]red, but can be demonstrated throlluh a greater llnderstanding of the Christian
religion. and thus a sense of hope in life. improved beh&viour and contribution ￿ the mental health and wellbeing to
d105e beneficiaries. who we reach with God's word.

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
ACHIEVEMENT AND PERFOIiTrLINCE
Achievements
In fmanclal terms. the Tn￿tee'S key objective is to fimd the adwJncement of the C]]ristian religion in any part of the
world. During the year under review. the Trnst awaTded 117 grants totalling £634.000 to oroanisations reco￿lSed for
their work and ¢xperi¢nce in the areas specified. Beneficiaries are assessed and decisions are made based on our
understanding of their ability to use gtaDts wi5¢1y in fulfilling their objectiv¢s, aligned to the Trust's objectives.
Restrictions on WI￿ can benefit
Given the broad range of organisations that receive grants from the Tn]sL there are no restrictions on who can ultinjately
benefiE from the Trust's activities in financially supporting tI￿se organisations who are providin¢r services and
opportuoities for the improvetnent of all.
In relation to the promotion of the Christian Gospel, whilst people are invited to embrace the ChrÉstian faith, any
iespollse is entirely voluntary. Most of the Cbristian organisations supported by the Tnst are long established and have
good reputations in promoting the Christian message, without pres5UTe beinu exerted on anyone to accept it. It is
considered that the public benefits outweigh the potential harnL
Private benefit
Most grants are pald direct to registered charities and as such there should be no private benefit. Modest grants to
smaller local charities are considered incidental. Any private benefit that may arise is considered incidental to the public
benefit.
FINANCIAL REVIEW
Financial position
In the year to 29 September 2024 the charity had Det incoD]ing iesoutces in telation to UDrestriGted fimds of £729,766
wÉth a net outgoing of unrestricted funds of £673.279 including a net loss on revaluation of investment property of
(£13.926). resulting in a net SUTplus movement of £56.487 for the year.This is compared to a surplus of £54.497 in the
year ended 29 September 2023.
The charity does not hold restricted funds as at 29 September 2024.
Principal funding sources
The principal funding source of the charity during the year was that of rentrdl income.
The charity received grants and donations tolalling £118,782 during the year. (2023: £104.790).
Investment policy and obJeeÉlves
Under the Trust Deed. the charity has ihe power to invest in any way the I￿￿teeS wlsh. however tn fonnulating an
investment policy, the charity has recognised that u,hilst it rnay have sllrplus fi￿dS to invesL these are likely to be called
upoii in the short terni. Tlie policy 15 to maintain high levels of capital security by minimising interest rate risk.
maximising returns and liquidity and maintaining low transaction costs.
Reserves policy
The trnslees have taken adviee 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, ￿ndIng s0￿CeS, future
needs, opportunities. economic conditiotLS, and conlingencie5. A policy has ¢sÉabli51ied whereby unreslric¢ed funds have
been designated to an investment fund which will allow The Walter Watson Charitable Trust to acliieve its charitable
objectives and provide fi]rther deVelOp￿nt of latKI and property.
Total funds are £8,263,290 less amount already spent on fixed assets of £l1.361.822. These reserves have been
designated by the tnjstees towards the development of land and property and the strategy is to continue to build reserves
not merely to meet the cliarttys obligations but also to build Surpluses which can be re-invesled in developing further
services.

THE WALTER WATSON CHAIUTABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
FINIlNCL4L REVIEW
Going concern
The Trustees bave reviewed their busine&8 plan, forecasts and the level of reSen￿S held by the kn]st After making
enquiries, thc Trust¢¢s Iiave & reasonable expeclation that the trust bas adequate resources to continue in operational
existence for the foreseeable future. Accordingly, they continue to adopt thc goillg concern basis in preparing the annual
r¢port and fllJan¢ial statements.
FUTURE PLANS
The Trnstees, main objective is to secure the lonaer_term f]DaKial viability of the Organisatio￿ by derivinG a tTreater
return on its existing core activities and investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The chaTity is Controlled by its governing docutDenL a deed of ttvst and CO￿titUteS an unincorpornted charity.
Rfisk nJan2oement
The trustees have a duty to identify and review the risks to wbich the charity is exposed and to ensure appmpriate
controls are In place to provide reasoDable assurance agaiost fraud and e￿Or.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
103633
Princip212ddress
135 Ballylough Road
Castlewellall
Co. Dow
BT3 I9JQ
Trustees
Mr I W Watsoa
Mr R Trinthle (deceased l913r2024)
Mrs S M Watson
Mr D J Watson
MrDWBarr
Auditors
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patrick5 Avenue
Downpatrick
Co. Down
BT30 6DS
Solicitors
Michael F CuTfdn
29 The Promenade
Newcastle
BT33 OAA

THE WALTER WATSON CHARtTABLE TRUST
Report ol the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
TRUSTE£SW RESPONSIBILITY STATEMEINT
The lrnstees are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable law and United Kingdom AccountintT Stsndards (United Kinlrdom Genera]ly Accepted Accounting Practice)
including FiTWLcial Reporting Standard 102 "The Flnancial Reporting Standard applicable in the UK and Republic of
Ireland"
The law app]icable to cbarities in Northern Ireland is the Clwities Act (Northern Ireland) 2008 and tbe provisions of the
trust deed reqlliTes the trustees to prepare financial staternents for each fiDancial year which give a true and faiT view of
the state of affairs of the chaTity alld of the incoming resources and application of resources. including the income and
expenditure, of the charity for that period. In prep2rAnts those financial statements. the tn￿leeS are required to
- s¢lcct suitable accounting policies and then apply th¢m wnsi5t¢Dtiy,
- observe the methods and priThciples in the Cllarity SORP,.
- make judgements and esliniales tbal are reasonable and prudenL
- state whether applicable accowiting standards have been followed. subject to any material departures disclosed and
expl&ined in the financiat statements:
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
ntinue in business.
The trustees are r&sponsibl¢ for keeping proper accounting records which disclose with reasonable aecuracy at any linie
the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities
Act (Norihern Ireland) 2008, the Charity Commission 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 prevenlion and
detection of fraud aThd other irregulariti&s.
Approved by order of the board of tnjstees on 5 December 2024 and signed on its behalf by:
Mr J W Watson- TTUStee

Report of the Independent Auditors to the Trustees of
The Walter Wxtson Charitable Trust
Opinion
We have audited the financial staten]ents of The Walter Watson Clwitsble Tn]st (the 'charity) for the year ended
29 September 2024 which cornprise the Statement of Financial Activities, the Balance Shee( the Cash Flow Statement
and notes to the financial statemellts, including a sumtnary of significant accoullting policies, The finallcial reportiThg
framework that has been applied An their p￿paratiOn is applicable law atKI UniÉed Kingdom Accounting Stalldards
(United Kingdom Generally Accepted Accounting Practice), including FiDancial Reportinu Standard 102 The Financial
Reporting St2nd2Td 2pplieable in the UK and Republic of Ireland.
In our opinion the financial statements:
give a true and faiT view of the stste of the charitys affairs ￿ at 29 September 2024 and of its incoming resources and
application of resources, for the year then ended.
bave been properly prepared in a¢cordaDce with United Kingdom GeTherdlly Accepted Accounting Practice, including
Financial Reporting StandaTd 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland
have been prepared in accordance with the Tequiremenls of
Basis for opinioD
We conducted our audit in accordance with International Standards OD Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are firtheT descrtbed in the Auditors, Tesponsibilities for the audit of the
financial statements section of our report. We are independent of the tharity in accordance with the ethical requirenients
that are relevant to our audit of the financial statements in the UL including the FRC'S Ethical Standard, and we have
Ifilled our other ethical responsibilities in a¢￿Tdance with these requirements. We believe that the audit evidence we
have obtained i5 sufficient and appropriate to provide a basis for our opinion.
Material uneertalnty relating to going concern
In auditing the financial ststements. we have concluded thal the truste&%' use of the goino concern basis of accounting in
the preparation of the financial stafrments is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions
tbat. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the respotisibilities of the trustees with respect to going concern are described in the relevant
sections of this reporL
Other information
The trustees are responsible for the other inforniation. The other infonnation comprises the infomiation included in the
Annual Report, other than the financial staiements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements doe5 not cover the other inforniation and. except to the extent otlierwise
explicitly stated in our report, we do not expr￿ any fomi of assurance conclusion thereon.
In connection with our audit of the financial Staternen￿ our Tesponsibility is to read the other information and, in doing
so, consider i¥hether the other infommtion is materially inconsistent wi￿) the financial slatemeThts or our knowledge
obtained in Ilie audit or othetWi5e appears to be materially MISSta￿(L If we identsfy such material inconsistenci¢5 or
apparent material misstatements, we are required to detemiine wliether this gives rise to a material misstatement in tlie
financial statements thenLselves. If. based on the work we have performed. we conclude that there is a Material
misstatement of this other infomjation. we are required to report that facL We have nodiing to report in this regard.
Matters on whieh we are required to report by exception
We have nothiELg to report in respect of the following matters where the Charities Commission for Nortliern Treland
requires Ds to Teport to you if. in our opinion:
- tlie infomwiion given in the Report of the Trustees is inconsistent in any matrial respect with the financial statements.
or
sufficient accounting records have not been kept- or
- the financial statements are not in agreen]ent with the accountTng records and returns. or
- we have not received all the infonnation and explanations we require for our audit.

Report of the Independent Auditor5 to the Trustees of
The Walter Watson Charitable Trnst
Responslbllities of trustees
As explained more fully in the Tn￿ees, RLspoDsibilities Statemenl the trustees are responsible for the prepardtion of Ibe
financial statements which give a ttue and fair view. and for such internal control as the trustees detern]ine is necessary
to enable the preparation of financial statements that are fTee from material misststenKn¢ whether due to fraud or error.
In prep￿in- the fjnancial statements, the trustees are responsible for assessing the charity's ability to continue as a going
Conce￿ disclosing, as applicable, n￿tter$ ￿lated to goillg coDc¢tn aud usillts the going concern basis of accounting
unless the trustee5 either intend to liquidate the clwity 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 and report in accordance with the Act and relevant regulations n)ade or
having effect theTeutkder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
tllaterial misststemeTht, wheth¢T due to fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable aSSUTance is a high level of assurance. but is not a guarantee that all audit conducted in accordance
with ISAS (UK) wilL always detect a material misstatement when it exAsts. Misstatements can arise from fraud OT error
and are considered material i( individually or in the aggregate. they could r￿onablY be expected to infiuence the
economic decisions of users taken on the basis of these financial statements.
The extent to whith our procedures are capable of detecting irregularities. including fraud is detailed below:
Our approach to identsfying and assessing the risk% of material misstatement in respect of irregularities. including fraud
and non-compliance with laws and regulations. was &8 follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities
and skÉlls to identify OT reCO￿lse non-cornpliance widl applicable laws and regulations;
we identified the laws and regulations applicable to the chartty through discussions with directors and other
mana(remenL and frorn our cornn￿rcIal knowledge and experience of the computer component manufacturing and
supply sector.
we focused on specifi¢ laws and regulations which we considered rnay have a direct material effect on the financial
statements or the operations of the charity, including Charities Act (Northern Ireland) 2008, taxation legislation and data
protection, anti-bribery, employmenL environmental and health and safety legislation"
we assessed the extent of compliance with the laws and regulation5 identified above through making enquiries of
management and inspecting legal correspondence" ar
identified laws atld reEulations were communicated within the audit team Tegularly and the team remained alert to
instances of non-compliance throughout the audiL
We assessed the susceptibility of the charitys financial statements to material mi&8tatement, including obtaining an
understanding of how fraud might occur. by:
making enquiries of maFJagement as to where they considered there was susceptibility to frdud, their knowledge of
actual, suspected and alleged fraud; and
- considering tlie internal controls in place to mitigate risks of fraud and nonThcompliance with laws and regulations.
To address the risk of fraud through management bias and override of controls. we:
- perfornied analytical procedures to identify any unusual or unexpected relationships.
- tested journal entries to identify unusual transactions"
- assessed whether judgetnents and ￿uMptiOnS made in detemiining the accounting estimates set out in the notes were
indicative of potential bias. and
- investigated the rationale behind significant or unusu21 tra￿aCtiOnS.
In response to the risk of irregularities and non-compliance witli laws and regulations we designed procedures whicli
Include￿ but were not limited io=
- agreeing financial statement disclosures to underlying supporting documentation.
- reading tlie tninutes of JneetiThgs of those charged widi governance"
enquirirkg of nianagemeTht as to actual and potential litigation and claims- and
- reviewirkg correspondence witli HMRC.
TIle￿ are inherent limitations Tn our audil procedures described above. The more removed that laws aTJd regulations are
from financial transactions, the less likely it is that we would become aware of non-compliance. Audiling standards also
limit the audit procedures required to identify non￿MplIance with laws and regulations to enquiry of the directors and
otber managemenÈ and the inspection of regulatory and legal corresp)ndence, if any.

Report (bf the Independent Auditors to the Trustees of
The Walter Watson Charit2ble Trust
Material misstatements that arise due to fraud Can be harder to detect than those that arise from aror as they may involve
deliberate concealment or collusion.
A fjjrther description of our Tesponsibilities for the audit of the financial stafrments is located on the Financial RepoTlincr
Council's website at www.frc.org.uklauditorsresponsibilitie& Tbis description forn￿ part of our Report of tILe
Independent Auditors.
Use of our report
This report is made solely to the charitys trustees. as a body. in accordance with Our audit work has been undertaken so
that we might state to the ch￿lty'S ÉrusÉ¢¢s tI￿se n]att¢rs we aT¢ required Éo state to the￿ in an auditors, report and for no
other purpose. To the fullest extellt pennitted by law. we do not accept or aSSUn￿ responsibility to anyone other ti]an the
charity and the charity's tn￿teeS as a body, for our audit worL for this repor¢ or for the opinions we have forn￿d.
M.B.Mc Grady
Chartered Ac
Statutory Aud
Rathmore
se
52StPa
cks Avenue
Downpatrick
Co. Down
BT30 6DS
unl
Is
5 December 2024

THE WALTER WATSON CHAIUTABLE TRUST
StAtement of Fln2n¢i21 Activities
FOR THE YEAR ENDED 29 SEPTEMBER 2024
2919124
Unrestrlcted
fund
2919123
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
118,78Z
104,790
Jnvestment income
610,984
562,330
Tot21
729,766
667,120
EXPENDITURE ON
Raising funds
22,253
2.254
Charitable activities
Charitable &ctivity
637,100
610,369
Total
659JS3
612,623
Net gainsl(losses) on investments
(13,926)
NETTNCOME
56,487
54,497
RECONCILIATION OF FUIYDS
To￿1 funds brought forward
&206,803
8.152J06
TOTAL FUNDS CARRIED FORWARD
8.263,290
8,206,803
The notes fonn part of these financial ststements

THE WALTER WATSONI CHARITABLE TRU
Balance Sheet
29 SEPTEMBER 2024
2919124
Unrestrieted
fund
2919123
Tot81
funds
Notes
FIXED ASSETS
Inveslment property
10
11,361,822
7,613,528
CURJIENT ASSETS
Debtors
Cash at bank
45J99
737,872
703276
783,271
703,276
CREDrroRS
Amounts falling due within one year
12
{631,803)
(i 10,001)
NET CURRENT ASSETS
ISl,468
593,275
TOTAL ASSETS LESS CURRENT
LL4BILTTIES
11,513,290
8,206,803
CREDrroRS
Amounts falling due after more than one y￿[
13
(3,250,000)
NET ASSETS
8263,290
8,206,803
14
Unrestricted funds
8,263,290
8,206,803
TOTAL FUNDS
8,263,290
8,206,803
The financi&l statements were approved by the Board of TnLStee5 and authorised for issue on 5 December 2024 and were
signed on its behalf by..
Mr J W Watson - Trustee
The notes fomi part of these financial statements
10

THE WALTER WATSON CHARITABLE TRUST
Cash Flow Statement
FOR THE YEAR ENDED 29 SEPTEMBER 2024
2919124
2919123
Notes
Cash flows from operating activities
Cash generated frotn operations
Interest paid
3,794,441
(20.662)
154.431
(185)
Net cash Provided by operating activities
3.773,779
154.246
Cash flows from Rnvestino 2etivities
Purcliase of investment property
IJ]lerest received
(3.762,220)
23,037
(53,000)
5,181
Net cash used in investin2 activities
{3.739,183)
(47,819)
Chantse fin cash and cash equivalents in
the reporting period
Cash and eash equivalents at the
beginning of the reporting period
34596
106,427
703,276
596,849
Cash and cash equivalents at the end of
the reporting period
737,872
703.276
The notes form part of these financial statements

THE WALTER WATSON CHARtTABLE TRUST
Notes to the Cash Flow Statement
FOR THE YEAR ENDED 29 SEPTEMBER 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2919124
2919123
Net income for the reporrfng period (8s per the Statement of Financial
Activities)
Adjustments for:
Losses on investments
Intciest received
Inteiest paid
(Increaseydecrease in debtors
InGrease in Creditors
56,487
54,497
13,926
{23,037)
20,662
(45.399)
3,771,802
(5,181)
185
61,234
43,696
Net cash provided by operations
3,794,441
154,431
ANALYSIS OF CHANGLS IN NET FUNDS
At 3019123
Cash floiv
At 2919124
Net cash
Cash at bank
703,276
34,596
737,872
703.276
34596
737,872
Total
703.276
34,596
737,872
The notes fonn part ofthese fjnancial statements
12

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements
FOR THE YEAR EIYDED 29 SEPTEMBER 2024
ACCOUNTING POIJCIES
Basis of prepArlng the fmancial statements
The financial Staten￿nts of the charilable tn￿( which is a public benefit entity under FRS 102, have b¢en
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recoll]tlleDded Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standatd applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),.
FinanciaE Reporting Standard 102 The Financial Reporting SÉatLdard applicable in th¢ UK aud RepublTc of
Ireland, and the Charities A¢t INorth¢m Ireland) 2008. The fllw)cial statements have been prepared undeF tb¢
historical cost Convention.
Critical accounting judgements and key sour￿8 of estimatlon uncert25nty
Estimates alld judgments made in the process of preparing the financial statements are continually evaluated and
are based on historical exp¢rieuce and other factors, including expectations of future events that are believed to
be reasonabl¢ UDd¢r the circumstances. The Truste&s do llot collsid¢r that there are any critical judgments made
in applying the Trusvs accounting poIicies or that there are any Critical accounting estimat&8 or assumptions
which n￿Y bave a significant risk of causing a material adjustment to caTryiDg anlounts of assets and liabilities
wÈthin the next financial year.
Income
All income is recognised in the Statement of Financial Activities once the ch￿lty has entitlement to the fimds. it
is probable that the income will be received and the allLQUnt can be measured Teliably.
Eipendfithre
Liabilities are recogntsed as expenditllre as soon as there is a legal or coJ)structive obligation committing the
clwity to that ￿penditure, it is probable that & tronsfer of economic benefits will be required in settlernent and
the arnouot of the obligation call be m¢asured reliably. ExpenditEwe is accounted for on an accruals basis and has
been classified under headill￿ that aggregate all cost related to the category. Where costs caunot be dir￿tlY
attributed to partieu12r 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 dale are noted as a commitment but
not aecmed as expenditure.
Investment property
Investment property is shown at the most recent valuation prepared by Colliers International Property
Consultants Limited on 06 November 2024. Any &ggreg&te surplus or deficit arising from changes in fair value is
recognised in the Statement of Financial Activities.
T2xation
The charity is exempt from tax on its charitable activitie&
Fund accounting
Unrestrtcted ￿ndS can be used in accordance with the charitable objectives at the discretion of the ttustees.
Restricted funds can only be used for partscular restricted purposes within the objects of the charity. RestrÉctions
arise when specified by the donor or when ￿ndS &re raised for particular restricted purposes.
Further explanation of the nature and purpose of each ￿nd is included in the notes to the financial statetnenls.
13
continued...

THE WALTER WATSON CHARITABLE TRusr
Notes to the Financi21 Statement$- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2024
DONATIONS AND LEGACIES
2919124
2919123
Donations
118,782
I04,790
INVESTMENT llYCOME
2919124
2919123
Rents received
Deposit account interest
587,947
23,037
557,149
5.181
610,984
562,330
RAISING FUNDS
Raising donations and legacies
2919124
2919123
Insurance
Light and heat
Support costs
(4,092}
(3)
4,210
(2,276)
115
(2,276)
Investment management Costs
2919124
2919123
Property repairs
Interest payable and simtlar cliartses
1,476
20,662
4,345
185
22,138
4.530
Aggregate amounts
22,253
2,254
14
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the FiDan¢iAI Statements- eontlnued
FOR THE YEAR ENDED 29 SEPTEMBER 2024
CHARITABLE ACTIVITIFS COSTS
Grant
funding of
activities
(see note
Support
costs (see
note D
6)
Tot2ls
ChaTitable activity
634,000
3,100
637,100
GRANTS PAYABLE
2919124
2919n3
Charitable activity
634,000
603,755
SiTrPORT COSTS
Governance
costs
Raising donations and legacie5
Charitable activity
4,210
3,100
7,310
TRUSTEES, REMUNERATION AND BENEFrrs
There were no tn￿tees, remuneration or other benefits for the year ended 29 September 2024 nor for the year
ended 29 September 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 29 September 2024 nor for the year ended
29 September2023.
COl￿PARATIVEs FOR THE STATEMENf OF FINANCIAL ACTIVITIES
Unrestricted
fund
JNCOME AND ENDOWMEl4rfs FROM
Donations and leg2cies
104.790
Investtyjent income
562,330
Tot21
667,120
EXPENDITURE ON
Raising fiTnds
2,254
Charitable activities
Charitsble activity
610,369
Total
612.623
15
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial StatenJents- continued
FOR TBE YEAR ENDED 29 SEPTEMBER 2024
cOmPARAT￿s FOR THE STATEMENT OF FINANCIAL ACfflryTIES . continued
Unrestrlcted
fund
NET JNCOME
54.497
RECONCtLIATION OF FUIIDS
Total fi￿dS brought forward
8,152,306
TOTAL FUNDS CARRIED FORWAIiD
8,206,803
io.
DtV£STMENf PROPERTY
FAIR VALUE
At 30 Septsmber 2023
Additions
Revaluation
7,613,528
3,762,220
(13,926)
At 29 septenth￿ 2024
11,361,822
NET BOOK VALUE
At 29 September 2024
11?61,822
At 29 September 2023
7,613,528
Fair value at 29 September 2024 is representrd b
Valuation in 2021
Valuation ill 2024
Cost
3,573,652
(13,926)
7,802,096
11,361,822
If investnjent Property had not been revalued 2024 would have been included at the following historical ¢ost
2919124
2919123
Cost
11375,748
4,039,876
Investjllent propety was valued on an open market basis on 6 Novejnber 2024 by Colliers Jnteniational
Valuatiou UK LLP.
16
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements- eontinued
FOR THE YEAR ENDED 29 SEPTEMBER 2024
ii.
DEBTORS: AMOUNTS FALLING DUE ￿THIN ONE YEAR
2919124
2919123
Other debtOTS
Prepayments and aecrned income
42,177
3.222
45J99
12.
CREDITORS: AMOiiNTS FALLING DUE wrrEllN ONE YL4R
2919124
2919123
Taxation and social security
Other creditors
40,719
591,084
34,291
75,710
631,803
i io,ooi
13.
CREDITORS: AMOUNTS FALLING DUE AVIER MORE THAN ONE YEAR
2919124
29￿￿3
Other creditors
3,250,000
14.
MOVEMENT IN FtTNDS
Net
movement
in fuDd5
At
3019123
At
2919124
Unrestricted funds
General ￿nd
&206,803
56,487
8,263.290
TOTAL FUNDS
8,206,803
56,487
8,263,290
Net movement in funds. included in the above are as folloms:
Incoming
resources
Resources
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
729,766
(659J53)
(13,926)
56.487
TOTAL FUNDS
729,766
(659J53)
(13,926)
56,487
17
continued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 29 SEPTEMBER 2024
14.
MOVEMENT IN FUNDS- contfinued
Comp2r2tives for M0ven￿￿t in lllnds
Net
movement
in fund5
At
3019122
At
2919123
Unrestricted funds
General fiind
8,152,306
54,497
8,206,803
TOTAL FUNDS
8,152,306
54,497
8,206,803
Comparative net movement in funds, included in the alK)ve are as follows:
Resources
expended
Movement
in funds
resources
Unrestricted funds
General fi￿d
667.120
(612.623)
54.497
TOTAL FUNDS
667,120
(612,623)
54,497
A curreTht year 12 ll￿nths and prior year 12 months combined position is as follows:
Net
movement
in funds
At
3019122
At
2919n4
Unrestricted funds
General fund
8.152J06
110.984
8,263.290
TOTAL FUNDS
S,152,306
110,984
8,263,290
A current yeaT 12 rnontbs and Prior year 12 months combined net movement in fill]ds, included in the above are
as follows:
Incoming
resourc
Resources
espended
Ggins gnd
losses
Movement
in funds
Unrestricted fund5
General fund
lJ96,886
(1,271.976)
(13.926)
110,984
TOTAL FUNDS
1.396.886
(1.271.976)
(13.9261
110.984
18
contsnued...

THE WALTER WATSON CHARITABLE TRUST
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2024
15.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 29 September 2024.
19