REGISTERED CHARITY NUMBER: 1091493
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2025 for The K P Ladd Charitable Trust
Munday Long & Co Limited Chartered Certified Accountants Alton House 66-68 High Street Northwood Middlesex HAG 1BL
The K P Ladd Charitable Trust
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Contents of the Financial Statements for the Year Ended 30 April 2025
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| Page | |||
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| ReportoftheTrustees Independent Examiner's Report StatementofFinancial Activities |
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| BalanceSheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| DetailedStatementofFinancialActivities | 12 |
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The K P Ladd Charitable Trust
Report of the Trustees for the Year Ended 30 April 2025
The trustees present their report with the financial statements of the charity for the year ended 3 0 April 2025. 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 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
It is the trustees' intention that the trust fund will be principally applied to support Christian charities and other charitable organisations involved in religious activities. This will be done by supporting churches, missionary work and other organisations both in the United Kingdom and overseas.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and planning future activities and they recognise their responsibilities towards public benefit under the requirements of the Charities Act 2011.
The trustees believe that their grant making activity is for the public benefit and that the benefit is clear and identifiable.
The public benefit of grants made is monitored by reference to feedback received from the recipient organisations.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year under review the trust made major grants to The London Institute for Contemporary Christianity. The trust has also made grants to thirty-five other charitable organisations of particular interest to the trustees.
FINANCIAL REVIEW
Reserves policy
It is the trustees' policy to maintain enough reserves to produce income in order to meet any commitments that they have made and in order to support appropriate causes when they come to the attention of the trustees. The trustees will keep this policy under review.
Results for the year
During the year unrestricted income of £220,301 (2024 - £4,822,812) was received. Charitable grants of £ 200,000 (2024 - £145,000) were made during the year.
At 30 April 2025 unrestricted funds of £8,757,780 were held. The trustees have continued to broaden the scope of the investments that are held by the trust. It is the trustees' intention to keep this matter under review, in conjunction with the trust's investment advisors, in order that the investments can be used to produce income that can be applied to fulfil the objects of the trust.
Having regard to the above the trustees believe that the financial position of the trust is satisfactory and that the trust will have sufficient reserves to meet its obligations in the future.
FUTURE PLANS
It is the trustees' present intention to continue to distribute the income received by the trust, having regard to the same principles as they have applied during the year under review.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a declaration of trust dated 26 March 2002 and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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The K P Ladd Charitable Trust
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Report of the Trustees for the Year Ended 30 April 2025
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REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1091493
Principal address 34 St Mary's Avenue Northwood Middlesex HA6 3AZ
Trustees B P Ladd - Chief Executive I D Creswick RA Ladd
Independent Examiner Munday Long & Co Limited Chartered Certified Accountants Alton House 66-68 High Street Northwood Middlesex HAG 1iBL Solicitors MacFarlanes 20 Cursitor Street London EC4A iLT
Investment advisors Sarasin Investment Management Limited Juxon House 100 St Paul's Churchyard London EC4M 8BU
JM Finn 25 Copthall Avenue London EC2R 7AH
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Approved by order of the board of trustees on 5 September 2025 and signed on its behalf by:
B P Ladd - Trustee
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Independent Examiner's Report to the Trustees of The K P Ladd Charitable Trust
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Independent examiner's report to the trustees of The K P Ladd Charitable Trust I report to the charity trustees on my examination of the accounts of The K P Ladd Charitable Trust (the Trust) for the year ended 30 April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’),
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1, accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached,
Raymond Long FCA FCCA
Munday Long & Co Limited Chartered Certified Accountants Alton House 66-68 High Street Northwood Middlesex HA6 1BL
5 September 2025
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The K P Ladd Charitable Trust
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Statement of Financial Activities for the Year Ended 30 April 2025
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|---|---|---|---|---|---|
|Ure|
|30,4.25|30.4.24|
|Unrestricted|Total|
|fund|funds|
|Notes|E|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|-|4,640,335|
|Investment|income|3|220,301|182,477|
|Total|220,301|4,822,812|
|EXPENDITURE|ON|
|Raising|funds|
|Investment|management|costs|4|23,021|13,851|
|23,021|13,851|
|Charitable|activities|
|Grants|to|institutions|5|200,000|145,000|
|Other|27,861|10,895|
|Total|250,882|169,746|
|Net|gains on|investments|79,040|481,085|
|NET INCOME|48,459|5,134,151|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|8,709,321|3,575,170|
|TOTAL|FUNDS CARRIED FORWARD|8,757,780|_8,709,321|
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The notes form part of these financial statements
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The « P Ladd Charitable Trust
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Balance Sheet
30 April 2025
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|ts|
|30.4,25|30.4.24|
|Unrestricted|Total|
|fund|funds|
|Notes|£|E|
|CURRENT ASSETS|
|Debtors|8|21,835|55,689|
|Investments|9|8,568,602|8,489,751|
|Cash|at|bank|169,323|166,694|
|8,759,760|8,712,134|
|CREDITORS|
|Amounts|falling|due|within|one|year|10|(1,980)|(2,813)|
|NET CURRENT ASSETS|8,757,780|8,709,321|
|TOTAL|ASSETS|LESS|CURRENT|
|LIABILITIES|8,757,780|8,709,321|
|NET ASSETS|8,757,780|8,709,321|
|FUNDS|11|
|Unrestricted|funds|8,757,780|8,709,321|
|TOTAL FUNDS|8,757,780|8,709,321|
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The financial statements were approved by the Board of Trustees and authorised for issue on 5 September 2025 and were signed on its behalf by:
B P Ladd - Trustee
The notes form part of these financial statements I Page 5
The K P Ladd Charitable Trust Notes to the Financial Statements for the Year Ended 30 April 2025
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1. | ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charity, 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 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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 expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic 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.
Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds 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 financial statements. Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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The K P Ladd Charitable Trust
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Notes to the Financial Statements - continued for the Year Ended 30 April 2025
| Notes to the Financial Statements - continued for the Year Ended 30 April 2025 |
Notes to the Financial Statements - continued for the Year Ended 30 April 2025 |
Notes to the Financial Statements - continued for the Year Ended 30 April 2025 |
Notes to the Financial Statements - continued for the Year Ended 30 April 2025 |
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| 2. | DONATIONSANDLEGACIES | 30.4.25 | 30.4.24 |
| £ | £ | ||
| Donations | - | 4,640,335 | |
| 3. | INVESTMENTINCOME | 30.4.25 | 30.4.24 |
| £ | £ | ||
| Investment income Interest receivable |
184,366 35,935 |
148,323 34,154 |
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| 220,301 | 182,477 | ||
| 4. | INVESTMENT MANAGEMENT COSTS | 30.4.25 | 30.4.24 |
| £ | E | ||
| Administrative expenses | 23,021 | 13,851 | |
| 5. | GRANTS PAYABLE | 30.4.25 | 30.4.24 |
| E | £ | ||
| Grantstoinstitutions | _200,000 | 145,000 |
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The K P Ladd Charitable Trust
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Notes to the Financial Statements - continued for the Year Ended 30 April 2025
5. GRANTS PAYABLE - continued
| The following donations were made during theyearended 30 April 2025: | E |
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| London Institute for Contemporary Christianity CARE Northwood Hills Evangelical Church London City Mission Langham Partnership Christians in Politics Salvation Army Wycliffe Bible Translators ChurchArmy Cinnamon Network Truth be Told Bible Society Transforming Lives forGood European Christian Mission Ireland Grace Enterprises Volunteers Outreach Working Trans World Radio OneYMCA (Dignify) Church Urban Fund Mercy Ships (Hope on the Horizon) Livability Emmaus UK Good Faith Partnership St Mellitus College Christians in Sport Hope in Haringey Iglesia Evangelica Interlondres ADF (UK) StChristopher's Hospice LIFE Begin Well Derby City Mission Tyndale House All Souls Serve the City International Justice Mission UK OpenDoors |
52,500 10,000 10,000 7,500 7,500 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 4,000 4,000 4,000 4,000 3,000 3,000 3,000 3,000 3,000 2,500 2,500 2,500 2,500 2,000 1,250 1,250 1,000 1,000 |
- TRUSTEES' REMUNERATION AND BENEFITS
Trustee Brian Ladd received a salary of £20,000 (2024: 10,000) and employer pension contributions of £600 (2024: 300) during the year, having been first employed on 1st November 2023. The authority for the employment of Trustees is contained within the Trust Deed, None of the other Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
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The K P Ladd Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
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6. TRUSTEES’ REMUNERATION AND BENEFITS - continued
Trustees’ expenses
| Trustees' expenses were £128 (2024: Nil) for the yearended 30 April 2025. | Trustees' expenses were £128 (2024: Nil) for the yearended 30 April 2025. | ||
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| 7. | STAFFCOSTS | 30.4.25 | 30.4.24 |
| E | £ | ||
| Wages and salaries Social security costs Otherpension costs |
20,000 1,504 600 |
10,000 595 300 |
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| 22,104 | 10,895 |
| The average number ofemployees during the year was 1 (2024: 1). | |||
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| There were no employees whose annual remuneration was £60,000 or more, | |||
| 8. | DEBTORS:AMOUNTS FALLING DUEWITHIN ONEYEAR | 30,4.25 | 30.4.24 |
| £ | E | ||
| Otherdebtors | 21,835 | 55,689 | |
| 9, | CURRENTASSETINVESTMENTS | ||
| 30.4.25 | 30.4.24 | ||
| £ | £ | ||
| Listed investments | 8,568,602 | 8,489,751 | |
| Fair value of listed investments at 30 April 2025 - £8,568,602. | |||
| 10. | CREDITORS:AMOUNTSFALLING DUEWITHINONEYEAR | 30,4.25 | 30.4.24 |
| E | E | ||
| Taxation and social security Other creditors |
- 1,980 a |
2,813 - vo |
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| 1,980 | 2,813 |
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The K P Ladd Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
- MOVEMENT IN FUNDS
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| MOVEMENT IN FUNDS | ||||
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| Net | ||||
| movement | At | |||
| At 1.5.24 | in funds | 30.4.25 | ||
| £ | E | £ | ||
| Unrestricted funds | ||||
| General fund | 8,709,321 | 48,459 | 8,757,780 | |
| TOTAL FUNDS | 8,709,321 | 48,459 | 8,757,780 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| E | E | £ | E | |
| Unrestricted funds | ||||
| General fund | 220,301 | (250,882) | 79,040 | 48,459 |
| TOTALFUNDS | 220,301 | (250,882) | 79,040 | 48,459 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.5.23 | in funds | 30.4,24 | |
| £ | £ | E | |
| Unrestricted funds | |||
| General fund | 3,575,170 | 5,134,151 | 8,709,321 |
| TOTALFUNDS | 3,975,170 | 5,134,151 | 8,709,321 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 4,822,812 | (169,746) | 481,085 | 5,134,151 |
| TOTALFUNDS | 4,822,812 | (169,746) | 481,085 | 5,134,151 |
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The K P Ladd Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
12. RELATED PARTY DISCLOSURES
During the year under review the trust made grants to the London Institute for Contemporary Christianity amounting to £52,500 (2024 - £46,500) an entity in which B P Ladd was employed until 30th June 2024.
During the year a grant of £10,000 (2024: £5,000) was given to CARE, an entity where Peter Ladd, son of Brian and Rosemary-Anne Ladd is employed, and grants totalling £10,000 (2024: £6,000) were made to Northwood Hills Evangelical Church, where Brian Ladd is one of the seven trustees,
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The K P Ladd Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 30 April 2025
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|30.4.25|30.4.24|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Donations|and|legacies|
|Donations|-|4,640,335|
|Investment|income|
|Investment|income|184,366|148,323|
|Interest|receivable|35,935|34,154|
|220,301|182,477|
|Total|incoming|resources|220,301|4,822,812|
|EXPENDITURE|
|Investment|management|costs|
|Administrative|expenses|23,021|13,851|
|Charitable|activities|
|Grants|to|institutions|200,000|145,000|
|Support|costs|
|Management|
|Wages|20,000|10,000|
|Social|security|1,504|595|
|Pensions|600|300|
|Professional|fees|1,488|-|
|Sundries|41|-|
|Office|costs|24|-|
|Travel|395|.|
|Bank charges|29||
|24,081|10,895|
|Governance|costs|
|Independent|examination|3,780|:|
|Total|resources|expended|250,882|169,746|
|Net|(expenditure)|/income|before|
|gains and|losses|(30,581)|4,653,066|
|Realised|recognised|gains|and|losses|
|Gains/losses|on|investments|____ 79,040||[481,085]|
|Net income|48,459|_5,134,151|
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This page does not form part of the statutory financial statements
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