THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
The trustees present their report with the financial statell￿nts of the ¢haTity for the year ended 29 September 2024. The
stees have adopted the prO￿s10￿S of Accounting and Reporting by Charities: Statement of Reconunended Pwtice
applicable to charities prcpaTiDU their accounts in accordance wtth the Financial Reporting StaDdard applicable in the
UK and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectlves and aims
The Trust exists to advance tlie Chtistian religion in any part of the world, and to help in the prevention and Teli¢f of
poverty, and the provision of healthcare and literacy. and the relief of those in lleed by reason of youth, age, ill-health,
disability OT other disadvantage.
The Trust is presently governed by a trust deed dated 29th September 1989. The Trust is established for exclusively
charitable purp05cs and is a registered charity witb the Charity Commission for Northern Ireland, NIC103633.
Significsnt activities
The core activities undertaken by the trnsl are distribution of monies to partnerlng organisations of similar objectives
and aims or to missionaries in the field direcL Communication methods can be througlj li*rature or verbal leaching
through missionaries. Over the past year we have continued to achieve many good things in ternis of fvlfilling our
¢IMritsble aims.
The Trust supports relief organisalions opeTating throughout the world and responds to urgent situations requiring
medical and practical aid. The T￿￿tr¢s are satisfied that the distribution of financial grants in 2024 has been in
accordance wtth the Trnst's purposes. The Tn￿tee$ are satisfied that the financial position is strong, Administrative
expenditure is minimal and as Ihc distribution of financial grants in the year is delernlined by the level of donation
received in the same year, the Trust does not need lo hold any significant amount in cash reserves. The trustees have
laken instruction on both the Charilies Act 2008. They have considered in particular the obligations imposed under the
public benefits test of the Charities Act 2008 and can ¢onfirn) that the charity meets the criteria set down therein.
Walter Walson Charitable Trust became registered with The Charity Commission for Northern Ireland on 18 September
2015.
Public benetit
One of the 12 chariiable 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 Edueati()n. througli
discipleship proclaiming thc CJospel.The ultimate beneficiaries are people in the UK and tl)roughout Ilie world as grants
are provided to UK registered cl)arities and charities operating in the developing world. Througll the promotion of the
Christian Gospel, lives are transfomied and there is a public benefit to society as individuals live in accordance wilh
biblical values.
We seek lo ensure Il]e financial resources are making a difference by asking for regular feedback from our participants
across the various countries. Tliis global partnering with charities enables the advancement of tli¢ Cliristian religion
more efficiently and effectively.
The benefits earlnot 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 contribulton to the mental health and wellbeing to
those beneficiaries, who we reach with God's wor(L

THE WALTER WATSON CHARrrABLE TRUST
Report of the Trusteos
FOR THE YEAR ENDED 29 SEPTEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Achievements
In financial tern]s, the TTUStee's key objective is to fL￿d the advancement of the Christian religion in any part of the
world. During the year uThder ￿VIeW. the Tn]st awarded 117 grants totalling £634,000 to organisations recognised for
their work and experience in the areas sp¢cifJcd. Beneficiarie5 are assessed and decisions are made based on our
understanding of their ability to use grants wisely in fjjlfilling their objectives. aliglled to the Trust's objectives.
Restrictions OTh who can benefjt
Given the bioad range of organisations that receive grants from the Tn￿( there are no restrictions on who can ultimately
benefit from the TrJst's activities in financially supporting those organtsations wbo are providing seTViCCS and
opportunilies for the improvement of all.
In relation to the promotion of the Cbristian Gospel, whilst people are invited to embrace the Christian faith, any
respoitse is entirely voluntary. Most of the ChTislian orgdnisations supported by the Trust are long established aDd have
good reputations in promoting the ChTislian nxssage, without pressure being exerted on anyone to accept it. It is
considered that the public benefits outweigh the potential ham
Private benefit
Most granls are paid direct to registered charities and as such there should be no private benefit. Modest gTanls 10
smaller local charities are considercd incidental. Any private benefit that may arise is considered incidental to the public
benefit.
FINANCIAL REVIEW
Flnanclal posltlon
In the year lo 29 Seplernber 2024 the charity had net incoming resources in relation to unrestricted funds of £729.766
with a net outgoing of unrestricted fimds of £673,279 including a net loss on revaluation of invesltnent propety of
(£13,926), resulting in a net surplus 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 rcslricted fiinds as at 29 September 2024.
Prlnclp21 fundlng sourees
The principal fvnding source of the charity during the year was that of rental income.
The charity received grants and donations lotalling £118,782 during the year. (2023: £104,790).
Investment pollcy and objectives
Under the "frust Deed. the charity has the power to invest in any way the ttustees wish, however in foi'mulating an
investrnenl policy, the charity has reco8nised that whilst it may have surplus funds to inv¢st, these are likely to be called
upon iii the short temi. The policy is to maintain high levels of capitsl security by rninirnising interest rate risk.
maximising returns and liquidity and maintaining low transaction costs.
Reserves policy
The truslees have taken advice from professional advisors in respect of the level of reserves necessary lo n)eet legal and
fiscal obligations. In developin£ this policy factors wliich have been taken into account included, funding sowces. ￿tUre
needs, opportunitle5, economic conditions, and contingencies. A policy l)as eslablisl)¢d whereby unrestricted funds l)ave
been designated to an investment fjjnd wliich will allow The Waltr Watson Cliari&ble Trust to achieve its charitable
objectives and provide further development of land and PToperty.
Total ￿ndS are £8,263,290 less amount already spent on fixed assets of £11,361,822. These reserves have been
designated by th¢ trustees towards the development of land and PTopety and the strategy is to continue lo build reserves
not merely to meet the charitys obligations but also to build surpluses which caTh be re-invested in developing fiwLh¢r
services.

THE WALTER WATSON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
FINANCIAL REVIEW
Golng concern
The Trustees bave reviewed their business plan, forecasts and the level of reserves held by the trust. After rnaking
enquiries. the Trustees have a reasonable expectation tbat the tn]st bas adequate resources to continue in operational
existence for the foreseeable future. AccoTdingly. they continue to adopt the going concern basis in prepaTing the annual
report and financial statements.
FUTURE PLANS
The Trustees, main objective is to secure the longer-teTrn fmancial viability of the organisation, by deriving a greater
reÉurn on its existing eorc activities and investmen
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing docurnent
Th¢ charity is controlled by its goveming do¢umenL a deed of ttust and constimtes an unincorporated charity.
Rtsk mBnagement
The trustees have a duty to identify and review the risks to which the charity is exposed and to g￿llre appropriat¢
controls are in place to provide reasonable assuraoce against fraud ar￿ error.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Charlty number
103633
Prlncipal address
135 Ballylough Road
Castlewellan
Co. Down
BT319JQ
Trustees
Mi. J W Watson
Mi R Trimble (deceased 191312024)
Mi's S M Watson
.DJWatson
Mi. D W Barr
Auditors
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Raihmore House
52 St Patricks Avenue
Downpatriek
Co. Down
BT30 6DS
Solicitors
Michael F CuTrdn
29 The Promenade
Newcastle
BT33 OAA

THE WALTER WATSON cHA￿TABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 29 SEPTEMBER 2024
TRUSTEES, RISPoNS￿lLITy STATEMENT
The trnslees are responsible for preparing the Report of the Trustee5 and the finaDcial ststements in accordance with
applicable law and United Kingdotn A¢¢ountin- Standards (United Kin-dom Generally Accepted Accounting Practice)
includino Financial ReportiDU Stalld￿d 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 th¢ provisions of the
trnst deed requires the trustees to prepare financial statements for each financial year which give a and fair view of
the slate of affatTS of the charity and of the incomii)g resources and application of resowces. including the income and
expenditur4 of the cbarity for that period. In preparing those financial statements, the trnslees are required to
- select suitable accountiDg policies and then apply them cousist¢ntly'
- observe the methods and principles in the Charity SORP.
- make judgements and estirnates that are rcasonable and prudent.
slate whether applicable accounting standards have been followrf subject to any material departures disclosed and
explained in the financial statements.
- pi'epare the financial statements on the going concern basis Unl￿ it is inappropriate to presunx that the ch￿lty will
continue in business.
The tnjstees are responsible for keeping proper a¢counting records whtch disclose wtlh reasonable accuracy at any tinie
the financial position of the charity and to enable them to ensure that Ihe financial statements comply with the Charities
Act (Northern Ireland} 2008, the Charity Commission for Northern Jreland and the provisions of the trust deed. They are
also responsible for safeguardTng the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
Approved by order of the board of in]stees on 5 December 2024 and signed on its behalf by:
Mr J W Watson - Trustee