0001752724-25-166750.txt : 20250714 0001752724-25-166750.hdr.sgml : 20250714 20250714112923 ACCESSION NUMBER: 0001752724-25-166750 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20250430 FILED AS OF DATE: 20250714 DATE AS OF CHANGE: 20250714 EFFECTIVENESS DATE: 20250714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: World Funds Trust CENTRAL INDEX KEY: 0001396092 ORGANIZATION NAME: EIN: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-22172 FILM NUMBER: 251120545 BUSINESS ADDRESS: STREET 1: 8730 STONY POINT PARKWAY STREET 2: SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 BUSINESS PHONE: 804-267-7400 MAIL ADDRESS: STREET 1: 8730 STONY POINT PARKWAY STREET 2: SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 FORMER COMPANY: FORMER CONFORMED NAME: Abacus World Funds Trust DATE OF NAME CHANGE: 20070410 0001396092 S000049058 Applied Finance Dividend Fund C000154687 Investor Class AFALX C000154688 Institutional Class AFAZX 0001396092 S000049148 Applied Finance Explorer Fund C000154944 Investor Class AFDVX C000154945 Institutional Class AFDZX 0001396092 S000054258 Applied Finance Select Fund C000170411 Investor Class AFVLX C000170412 Institutional Class AFVZX N-CEN 1 primary_doc.xml X0505 N-CEN LIVE 0001396092 XXXXXXXX 811-22172 false false N-1A S000054258 true S000049148 true S000049058 true World Funds Trust 811-22172 0001396092 5493007BOSPYEMKSSY03 8730 Stony Point Parkway Suite 205 Richmond 23235 US-VA US 800-673-0550 Commonwealth Fund Services, Inc. 8730 Stony Point Parkway Suite 205 Richmond 23235 804-267-7400 Records as administrator and transfer agent Applied Finance Advisors, LLC 17806 IH 10 Suite 300 San Antonio 78257 800-673-0550 Records as advisor Fifth Third Bank 38 Fountain Square Plaza Cincinnati 45263 513-534-6721 Records as custodian N N N N-1A 23 Y David Urban N/A N Mary Lou Ivey N/A N Laura Morrison N/A N Julian Winters N/A 3993 Sunset Avenue Suite 201 Rocky Mount 27804 XXXXXX N N N N N N Foreside Fund Services LLC 8-51293 000046106 N/A N N Tait Weller and Baker LLP 445 N/A N N N N N N N Applied Finance Select Fund S000054258 549300CT708IAZ038H34 N 2 0 0 N/A N N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N Applied Finance Advisors, LLC 801-66461 000140054 254900X6NUJVF219P595 N Commonwealth Fund Services, Inc. 084-01553 N/A N N N ICE Data Pricing & Reference Data LLC 5493000NQ9LYLDBCTL34 N Bloomberg 5493001KJTIIGC8Y1R12 N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N MISCHLER FINANCIAL GROUP, INC. 8-48067 000037818 N/A 13796.6 VIRTU AMERICAS LLC 8-68193 000149823 N/A 30144.28 43940.88 0.00000000 N 563035700.42 N N N N Applied Finance Explorer Fund S000049148 549300JZELJIII4L7K33 N 2 0 0 N/A N N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N Applied Finance Advisors, LLC 801-66461 000140054 254900X6NUJVF219P595 N Commonwealth Fund Services, Inc. 084-01553 N/A N N N ICE Data Pricing & Reference Data LLC 5493000NQ9LYLDBCTL34 N Bloomberg 5493001KJTIIGC8Y1R12 N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N MISCHLER FINANCIAL GROUP, INC. 8-48067 000037818 N/A 123599.53 VIRTU AMERICAS LLC 8-68193 000149823 N/A 101584.34 225183.87 0.00000000 N 766108563.89 N N N N Applied Finance Dividend Fund S000049058 549300BP1C7XPT7DFG44 N 2 0 0 N/A N N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N Applied Finance Advisors, LLC 801-66461 000140054 254900X6NUJVF219P595 N Commonwealth Fund Services, Inc. 084-01553 N/A N N N Bloomberg 5493001KJTIIGC8Y1R12 N ICE Data Pricing & Reference Data LLC 5493000NQ9LYLDBCTL34 N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N Commonwealth Fund Services, Inc. 084-01553 SEC File Number N N N MISCHLER FINANCIAL GROUP, INC. 8-48067 000037818 N/A 703.12 VIRTU AMERICAS LLC 8-68193 000149823 N/A 995.07 1698.19 0.00000000 N 27435053.63 N N N N true INTERNAL CONTROL RPT 2 0001396092.htm CFS_0001396092_20250430_20250709145846769.pdf

taitweller.com

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Shareholders and Board of Trustees

The World Funds Trust

Richmond, Virginia

In planning and performing our audits of the financial statements of Applied Finance Dividend Fund, Applied Finance Explorer Fund and Applied Finance Select Fund, each a series of The World Funds Trust, as of and for the year ended April 30, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered their internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of The World Funds Trust internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and Trustees of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing its assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Shareholders and Board of Trustees

The World Funds Trust

Page Two

Our consideration of The World Funds Trust internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in The World Funds Trust internal control over financial reporting and its operation, including controls for safeguarding securities, which we consider to be material weaknesses, as defined above, as of April 30, 2025.

This report is intended solely for the information and use of management, Shareholders and Board of Trustees of The World Funds Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania

June 23, 2025