Registered number.. 05774260 Charity number= 1117330 THE LAUREL TRUST (A company limlted by guarantee) VNAUDITED TRUSTEES. REPOR T AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
THE LAUREL TRUST IA company limTled by guarantetl CONTENTS Page Ralarance and administr*i¥• d•talls ol tt Charlty. tts Trnstees and adv15eis TfU$tèos' r•port 3-10 Indtpenilent eXane5 rnport 11 Statem?nt of flnAnclal actlvltles 12 Balance sh•et 13-14 Notes to th• financlal 8tatements 15.27
THE LAUREL TRUST IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENttED 31 JULY202Z Yrnstees W Gothjard, Chai R Durban. Trustee Dame P collarbe. Trustee R Greenhah, Tnjsiee M Stancoff. Trustee Abone, Truslee P Bull. Trusiee D Jhamal. Trustee Dr D MePhal. Trust•• (ap&19 13 July 2022) A Mohan. Twstee lappointed 13 July X1221 T Thurogood-Hyde Trustee18r4)ointed 13 July 20221 Tiplin, Trustee iaFpoin18d 13 July 20221 Company reglstgred numb•r 057740 Ch8rtty reglstered number 1117330 RÈgl8t•r•d offlc¢ CL St¢Th lfjrKJ Btyjndary Pbuse 91 ChartothoL159 Street London ECIM 6HR Company s•¢r•tary SIcffj81(mg LLP I$19ne(1l3 Seplember 20211 Ind•p•nd•nt Ex•mln•r CKJnun C¢xhrn•-Dy•t 8Se 8FP Ff MHA Victoria Court 17-21 Ashford Road Mai¢Jsto Kent ME1450A Bankerg Charrties AKI Fourxlation Bank 25 Kir¥Js 1411 A¥e¢ 'rS Hill Wesl Maifing Keni ME19 4JQ Sollcitors stw Trfj"ng LLP BMdary H¢xtse 91 Ch8rterhoLLse Street London EC1M 6HR Consultaftt d*r•ctor MRog Page I
THE LAUREL TRUST IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARtTY, ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2022 Investment managèrs Evelyn Partners 45 Gresham Stre8t Lt)ndon EC2V 7BG Page 2
THE LAUREL TRUST {A company limited by guarantse) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2022 The Trustees present their annual report Ic¢3ether with the financpl statements of The Lau¥¥l Trust for the 1 August 202110 31 Juty 2022. The annual report s&Nes the purposes of boih a Tfusteos, report and a Directots, report under cc¥npany law. The Trustees confirm that the AnnLtal report 8nd fjnancial statements of the charitable company cnpty vhth the current stalulory requirents. the requiremelts of the charrtable Company's governing do¢urnent and the prowstons of the Slalemenl of Re¢(xnmended Practi ISORPI applicable lo char+ties preparing their accounts in accordance with Finala1 Rewrts'ng Standard applirabte in the UK and Rèpublic of Ireland IFRS10?I Ipfft¥JNe 1 Janiiary 20191. Since the Charty qvalifK•S #s small under 8ttthJn 382 of the Compan$ Act 20C6, th• Stratogk report requir•d ol medium and large tpaThies under the Cw)•nEs Act 20( Istrategic Report and Directors. Report) RegUlatS 2013 has been omitte4J. AS a resutt of the ending ol government gran1$ for regional and nalh)nal provhets lo train teachers for leader$hip in education the trustees made the Strateg d¢¢i$ion in July 2016 that to continue to take fOard the charitable purpose of the advancement ol edu¢ation rt was necessary to ¢hang0 the operational melhodology and the n8me of th• ¢harity. 11 was decided 10 8dopt the name the Laurel Tryst and Ihis was fomally ena¢ted on 3 October 2016 when the change of name was registered vthh Ctynpanies House and the Chorily Commission. Th• ep•rational methodob9y wo9 thongod from tr8inin9 Pro$1n for thlership in education tg Gharitsble grant making. This new strategy was $eEecled on the basis of the need in sc1ls and other ucatiOnal provid8rs to BUPPOrt practical xtion research in ord8f to promole school improvem¢nt and educalKJnal achi8ment in multiply deprNed ¢tynmunilies through partnerships in eduCatn for children up lo 11 years okl, includlnq proviBion forthe earty yEarg and sp101 educational ne&Js and di8abiltty ISENDI. Oblectlveg and actlvltl•s •. P¢N¢l•s and obl•ctJv88 Th8 charitable objects of Ihe Trust a 'the a0arement of edu¢ation, in particular IwrthoLrt prejudice lo the genorolityl by promoting, improwng an<1 developirvJ educational leadeTrhip in schools, bcal education authorities and other Organisations supporting or proV1ng •dUcal rtyionalty, nat)nal and intgm9lTh)a1 lextracl from thtr objects in the Articl•$ olA55cKiation 20161. In Setting oectNes and pfannlrrfJ for xtiwlies, the Truste•$ have gNen due consideration to 9on¥ral guidance published by the Charily CommissKJn relatiro to Publ nefit, Ind1ng the guKlanc• 'Publi¢ benefrt.. running ¢h¥rity {PB21'. b. Strnt•gl•J lor ehl•vlng obl•cl(v The Twstees have adopted strategy of grant making totaiirvj up lo £250.1XIO p8r 8nnum to support action research projects to improve Schools and raise aChIeMent. To ensure scale and wide appli¢ation the research projects are carrred out by collaborative partnerships of schools and other educational providers semng children up lo 71 years ok4. notsbty those Imng in mU"pty deprived comm(tnitie$. L(xal match fvnding including professional $laff time increases the resouwn9 of research projects •bkn9 *ryder disseminth'on of outcomes and ènhanced impact on educatb)n for the public benefft. Pe3
THE LAUREL TRUST IA company Ilmlted by guarante•) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2022 Obl•¢tlv•$ and a¢tfvItI Icontinu•dl c. Activlties undertaken to achigvg obJectfv•s The year 2021-22 was an extremely ¢omplèx one. The Trust awarded £84,500 in grants to supwrt research and innovation. In the pericwj fdlowing thd, xhools wer IxiThJ continuing and signifant stsff aTvJ pupil absence and a rnullitud8 of inteinal pioblem5 whKIi L4)fT1p111 t1 wiiyletion of theii feseatGh. A Gon5Klrablts number of s¢h¢ol$ a¢rtsss the country We forced lo hall their re5ear¢h during and in this period. As a resull. schools were al different s¢ages of their resèarth to those inlended. The diswptKffi and challenging condrtion5 Continued through 2021-22 and still exist in the many arèas, especially those in poverty wh•re the recruitsnent and retention of t&achers is problematic. The Trustee5 and ConsUant Director therefore put in pla¢¢ a programme of $lru¢tur•d in¢luding addItnal w15, ZooJT(feaffjs meettn9s and a telephone helpline. Dunng this period 16 collaborelions of schcd5 w¢re $upported repfesentsn9 122 $¢hools. The schools extended acr065 Ihroe Intakes. Support was inclusive to their partner organisattrjns. Chiel among thèse wer& the NHS (Speech and Language Therapists, Occupational Therapists. Educational Psychologists, and Local Aulhoriti?sl. The visits and prowsion lof schools ranged from Northurnberfand lo O¢von but the majorty We in the mlandS region and yo$h$re. In this way lh¢ Trusl gave coherent sUPPOrt to ovèr 50 senior Staff In our Lead Schools and their t•ach•rE and Indiroctly to th• •ducation and w•ll.b8ing of hundr•ds ol ehildr•n. Tha Board ol Tru$lees requir( All Schools to embed their Teseafch, moving rt from ihe Search slagtr Into improved practKe. This ensures long8r-temi impact and conlinuty. In addrtv)n. they require The Lead School and ils partners to disseminate the research and resultant practKe as wKlely as possiN• so that it benefts the maximum number of school5. Dissémination actmties often incIeS suppth guidan IourceS for schools ithin9 to Introduc8 similar prtsgfammes. The 8ch¢xJL% in whh the Trv31 has worked in 2021-22 all in areas of $o¢i¢)-ecot)omic deprfvalion 8nd educational challenge where condrtions havè consi(Jerably worsened since Covid. We ar• witnessing schoo15 having to 8stablish food and clothing nkS #s w¢ll •$ d•aling wth a18gary of loss In educ8tw)nal 8tt8inment and pupils, m¥ntal heatth and welbj. A5 a resutt of the muKiple drffi¢uttie$ fa¢•d by schc** the Truslees hav& ¥dopl•d a d•gm of flexibility around ccqnptelion dales. Twdve of the collaborations that were schedukd lo finish in 2022 have now completed their research aThJ five are scheduled lo finish In July 2023. (One group ol schools In G05POrt were forced to wtthdraw becaus• of the loss ol the hthitheacher and Severe staffing drfficuttiesl. A small further recrurtmenl in NOvb¥1 2021 of 3 colaborath)ns represenb'ng 20 schcds are amongst those COMpting in July 2023. These werè award•d £84,500 in addition lo Ihe Q41.620 awarded earfier to Cohort 4 schools in 20221 and earfy 2021-22. Of Ihe Coh¢)rt 4 grants £29.500 of the funding has yel lo be requested bul wll be daime(I b¥ $¢hools shortly. of the thw sd)ocls in the most recent group of $¢hool$ (Cohort 5 - 2021-20231 have ¢laimed 100% of their grant lunding and onè has claimed So. with the rernaining £12,750 to be paid in the surrffier tem 2023 when thty ar8 in the latter stages oftheir fgswch period. Currently the Twstees are in the prsS of invrting Khtrjls to appty for a round of funding of vthich £250.000 will be allocated to support schods. Wh"Isl the recruitsnent is a national one. we are also tar9èting area5 01 severe need where fr SdlS have applied. These in¢hNled." lh• North-west, Yorkshire 8nd Humber, East Anglia and the SryJth-We$t. Whilst the Trust has coverage across the o)untry, schools in these areas arg Under-pr¢Senlod. Page 4
THE LAUREL TRUST IA company limited by guardnteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 ObJectiv•s and actlvltl•s Imntlnued) d. Maln •dl¥iti95 undertaken to furth•r th• Charlty'$ purp05e5 torthe publlc ben•fft The year 2021-22 contsnued to be an extrenty dthculi one for the 8ehoo15 8WOrt&J by The Laur81 Tru81. Natwal and Regh)nal disruption and prokgnged pupil and staff ab$erS hindered their re$earth. Howevor, the Tru¥teeg confimi that to the bst tsl th¢ir abilty they Gontinued to support schooL8 desprtè thè sevtre Gon3traints. They have exercised their duties and have therefore complied ¥th thwr duty to hav& duè regard lo the 'Achievement of Education for Pubk Ben&fft' published by the Charity Commission. Th•ir maln activities We promoting and supporting s¢lKd knprovement in a vade range of schools natronal and supporting school improv¢mènl and pupl proaress, achievement, and wdfoeing in 122 Pfimary and special schools and settings at)d in ¢arfy yeais, provi5Jn. The resurts of th• r•s8ar¢h ¢onlinutr lo be shared with local neknrks and comaborations. In drtiOn, they wll be disseminated both re9ionalty and nalion8lly 80 that th• maximum number ol schools and 1xa1.8$ b&nefft. In thi$ way th& Trust contr1tleS lo Sch1 wnprOvennI and perfom8n¢e to polenlialty reaching and 9iwng Orrt to SCO,0 ¢hikJren and teachers. Aohlovoments •nd porfomi•n . Maln •ehl•v•m•nts of th? CharSty In January 2022 lh furthw ¢ollabornlK>ns of 8choc48 in Devon, Stalford and Sund•rtand w•r• wuStod and have made a positNo start supported by #n alted Trustee and the Consuttont DirOr. Their research focuses on Some key i$sue$ today.. school readiness, high leIS ol abs•nteèism and th• development of language and ¢ommuni¢8tbn Sk1 in young chiklren. In 2021-22 hKJh qualty support wa5 given lo the sChIS by 1 Tw$tees and Iho Consuttanl Director enabled 940k of $ch¢ds lo continue their research to a hJh stsn¢Jard In spite of the eXtrety challenging background n4tiori4lly iii w1111 Iliey C(Md urKI Ils I#yilCy In¢lvding 5chuol ckjsures, contlnulng hlgh levels of staff antl pupil absence and financial con$trgint$. menl¥l heafth and anxiety. partiDJktly so in Ihe areas of pov•rty irt which The Laurel Trust works. Of those s¢hool$ 63% fintshed their searCh prc46Cts and èmbgddgd th¢ practice into leaching and leaming. The remaining schcols are scheduled to finish in t summèr. The Tru$1 supports 811 Iheir couabgrations of s¢hools In sustsining and disseminating their prq'•¢ts to •nsure their bngevty. reach and tha engagemerbt of other schools. The Tnjsvs aim is for the iesear¢h and the fesultanl improved pract lo benefit the maximum number of schooFs, children and thè4r famils. To th end the research has also bean publishod in number of jwmals includirYJ that of thè Brilish Edu¢atK)nat Research Joumal IBERAI. The continued produclion of o nv•V5ktter. UFKJate. hBs betti vahjed by sLIMMJf¥ rbd othw Partrn ¥uch as the NHS and L¢¢al Authorrties. tt keeps us in reguFar contact with schools aThJ their partners. Uate has usÈlul fun¢tion in disseminating the research of our schtsjls. rtInhI arttckn arKI SearCh ol national or gionol interest. We continue lo offer a t•lephon• hh'no for s¢htr)ls needing advth and guhlance. The Board ol Trustees Tegularty review thèir pleS prrfedures to ensu rLJmpliarKe with their legal duties and the Trustees undertook a lom[ interim eW of ts purpose and Strateg priorities in 2022. Thè rK>minated Safeguarding Lead regulaTty sends NSPCC and related updates on Matte rèlating to ¢hitdien'$ safety, Security 8nd well-being lo all Trustee5 and il i8 a staThJin9 item on the 09enda. 1 Trustees undertake the NSPCC training for Trustees ann1jal. The risk wister is a150 •xamsned at ea¢h Tfustee5' Meeting and signffKant time is spent in reporting and assessing financial mattw5 and ensuring finanual probrty and value for money. Page 5
THE LAUREL TrUST IA company limited by guarants•) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2022 Achlevements and perfomunc• {contlnuedl . W p•rfom•n¢e Indkatorn In the year 2021-22 the TNstee$ alkxated £84,SlJO to suppm C¢+rt S s¢tls. In total it continued to support 16 Lead schools lo conduct and ccffiplete their research. With their partnar Khods th8 iotal number of schcds supwted was 230. Many of the collaboration also had partners including L¢¢al Authtsritis SliSt r¥I¢l$, NHS, unN•rsiti&s. Family Support Workers and range of tstr r•l¥¢ed professvJnals su¢h as Sptre¢h and Language Therapi$t$. Each research proj'ed is required lo have an Extemal Eva1. These have induded.. university professors or researchers, experk?nced &x-hèadtèach8fs and nat¥)nal figurès in education. All Extemal Evaluators have judged the r&$èar¢h to have Mnpa¢t. be vam and tnJsh¥orthy. translerable to oih•r contexts and of value lo pra¢tilKiners. During 2021-22 toial reseNes reduced by £293,441 from £2.780.377 to Q.466,936 12020.21 redu¢ed by È60.159 from £2,840,S36 to £2,780,37n vAth £192.728 12021%21 £299,382> •xp?nded on charitable 8elivili•s and incoma of £S6.34712020-21 £65.6501 mad• up from income fr¢)m investmenls and Inte$t paKI on deposll •¢¢ounts. c. R•vl•w ol a¢tlvltl• All school$ éngayd In resew¢h or thoae rwnaining from wli•r projects raceived tern7 reYNlmonItorln9 vlsits from the Tntstee$ and Corn$utt8nt Dire¢t¢y. The Trusl••s also r8cewd a temily report from each school showing Ihtr actsvrties and impact for that lerm. Tho r¢se¥r¢h projects all demon$lraled po$itNe impact which was linked lo School Developmenvlmprovemenl Plans and reflected Ihe s¢hotsl and often the regional pritsrilies. Ewdence suggestod that Complètion ol tha current projects result in improved progress, achievement. and well-being for thé children. rhe propets inertasin9ly shLWrtd benafii for thtir communities refiecting the gr¢oter InvolMnt ol pants1¢81¢fs. Ihe authtrtitrs and spwl agències such as th• NHS. All these partnership ond s¢hrx)18Ctiwlies have shvwn posrtive. ond Sometimes. tStandIng re¥uhs. Thi$ yèar 8 focus has been on enabling 8nd faulitation research projects which help chikYn catch up, make accelerated progress. and support their well-being and mental health lollM'ng prolonged pe¥icJs ol Covid and the adverse effects on the education sector. Positive outcomes have also been seen In the profess)nal development of teachers and leaderB with increas8d knowwge, skills. ¢onfbJen¢e. and ¢apabilty. Thts has been parti¢ularfy so where they have increased their kntMled9è and skils base by working wrth 8gen¢ie$ like thè NHS. Family Support Workers. Speech and L8nguage Therapists and Educational Ps0k)gi$ls. This will enabk sustainabilty and d155ernination a¢tiMti•s nd bngowty both within and boyond the particyating athools bringing wider engagement ond Improvement. I sctk)ol$ and providers who worked on e•rtw proje¢l$ ho¥e r¢¢eNed posrtNé Extemal Evaluations from unwer$rts, HEIS or National Research Schrx)Is. These evaluation reFA)rts have ¢ited the support, engagement and partnership with the Trustees and Consultant Director and have shown that their oTrg¢yng support and viwble commrtmenl to the schools is hh valued. The schools now hold empirical evKlen¢e on school improvement and ¢hiklren's ieaming. This edence has been used to improve the Trust's pre and the TnJstees 8r¢ ¢ommitted ¢0 a detsiled annual revie and to NtInu$ improvoment. In 2021-22 the schools were stdl &xperitincThJ a post4 and the acute difficutties inditea oarlior In the port. Exampl0$ would hwh Wl$ of PLpiI absenteeism and of staff ab$eTr. This ha5 meant that the Board r)f Tni4tgps 0pted a siJrspnrtFve and fvs.yihlg È)r4JrrJ*g) whp¢e thwÈ havÈ sionrfiranl problems such as long-tèmi absence of the research lead. The Consultant DÈrectorworks dosety with the Chair ol Trustees and provides regular repNts to the full Board on the schools, circum5tance5 and pwress. If barriers and hindrancè$ have occurred these are discussed vthh the Board and solutions or ways of ameliorating the difficultie5 explored. The Trustees continue to alopt a solub'on4)ased approach cc¥Jpled wth Ihe necessary rigour. Temily monilonng visits are conducted by the attsched Trv51ee and Consultant Director. Schools receive at least 3 meetings a Pagè 6
THE LALIREL TRUST {A company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY2022 Achlevements and perfomiance {¢ontlnuedl year. The$9 yovide 8 balg)ce of support 8rJ to ensure thal a ligh qudily is maintained Schools repcwt that they value thèse lacè lo face meeti¢vJs. AM current p¥oje(ts show hh levels ol comrnilmenl to improve Outcomes lor children and Ihar larylllies d. Investment policy and p•rforman¢¢ Noting the mc¥J•st inteSt of under £3K paid from the Scottish WlOW5 Ey$l A¢¢ounl In 2017-18 and the sale of the Sitlingboume prcperty. also 2017.18. a¢SJing ovei £1.251A to th• cash r8SeP$. the Trustees remitted the company secretary tts altwnÈve Investrnents, IncludirvJ equi¢Kps 8n(J bonds whith could b& manég6<1 by an "lftv•slment Experf Iim? in line witr) the powors tn the Articjes of AS$•110n and ¢h8ri1y law. This revi8w was to be £ornpleted by the Autumn 2018 when It)e sècratary was remitted to make rewmmendalions lo the Trustees on the fvture Investrnent POIy. In May 2019, £2.ZM was invested wilh Tilnèy wlth inslructtons lo invest in 8 ptrollO apprwnate for an investor with a fwe-year lime horizon 01 more. who Ss cornfortable with rnortèrat9 volats.lity of retums and h3wing typcalty up to 60% ot Ihelr portfolio In equities. and who is aNe 10 lobrat8 8 loss ol up to 15% 01 the value ol Iheir pcrfUc410 In any one year. This percentsge loss Is Das80 on whai one mighl reasonaDiy expect In any one year 95% of the Me. LY 19 oul uf 20, oiid bu Ili¥i may be occasions when the r¢ents9e fall 1$ greater Ihan Ihe 15% 10$$ $t8l&J Al 31 July 2022. the lrnvtstmenl pjrtfolio was valued ¥1 £2,574.029 {2021'. £3.002.401). Fln•nelal •W . Golng concem After making appropriate ewuides. the Trustees have 8 rÈ8Son8O •wi8tlon Ihal th8 Cl)arity h8$ 8d8quat re$our¢es to c(11nUe In oporatsonal exister for the foreseeable futurè. For this reason. they continue to adopt Ihe going concem basls in preparing Ihe finty01 $latemenl8. Further details regdiThJ the adoption of the golng concern basis can be Icrtjnd In the ac£ounbrYJ wicle5. b. Reserves pollcy Throughout the finanoal ar kne ffustses reg(Aarty rèwthve<l Ihe healthy nel assèt$ totaling £2.48e,936 on 31 July 2(r22 1£2,780.377 C 31 July 20211. They resdved to Coniinue with the lon9-temi serveS policy of combining hioh lavels of reserves with cautious apIcall to rthv ant Making developments trUdled at up to £250.000 per annum In order to safeguard charrtatAe assets and maintsin fina181 stability dunng the ongoin9 rfo(J of govemmeni wlicy In educats¢m ausienty ts. c. Flnanclal rlsk mamgement oblectfves and pollcles During the past year th8 Trustee$ ¢cnlirxJl to r3refulty mCl 8sscoated financ ftsks un¢Jer their duty ol prUdee mainlained tsr ¢aJJ$ resems FL4Icy Sbjbj'ect its th& abovg rewe of the resetvès investment policy. Pa7
THE LAUREL TRUST IA company Ilmlted by guarantee) TRUSTEES, REPORTICONTINUEDI FOR THE YEAR ENDED 31 JULY 2022 d. Prin¢ipal fvnding Ih the ending of govemment ants frcffj the tkparment Education in 2016 the Trust relles Lpon investrnenl Irbc£ffle to tnainlain aSonat8 rsèNes. In ye8ts e wll te a p055ibilily of approaching other Charita• trusts supporting research in ethtsknon once the Trust has produced publications ancl disseminated research project finthrJs nalioTpwide and has a track record for qu4ity high impact r&s¢arch In primary edUCaon Structuro. govemance and managèment •. Constitutlon Constilution811y Ihe Laurel Tru51 Ipremously SELT! is a regist•d chty number 1117330 and cornp8ny lirnited by guarantee nurnber 05774260 to advance educatiu) bgse¢ on Artides of Asgo¢iatlon first fegistered n 2006 and iasi amended with Ihe change of nntt in 2016 b. M•thods of hppnlnlmnt tsr electlon of Trustees TM Trust Is gov8rned by a mli-Skiled aThJ diverse 8oarf ol Tnislees aTh1 w Trustees are rocruii8d through commission1 Trustee$ Unlimited as a spea¥ist truste& recruitmeni 89ency. Trustee5 aro as¥oinled and co- opted on a voluntary bass. All new Trustees are Inducted w their legal dubes and r8spcnsibilities ol Trusteeship Using Charity Commission Guidan¢• art l¢lerature puNsshed by the Trust's solicitors Slont KINJ LLP. In dition Ihe Board has InirodLKed the NCVO Besi Bohaviour C¢)Je, which has been ad¢pied by the Board and all Trustees a requireil lo sgn the code and complet8 Ihg dèclarabon of interèsts. which Is upcl8ièd annually. Tha Trust's srJicitor$ ensure that the Trusie6s act In a¢¢ordance with their legal obligakn"ons. Corporate goveniment principles and guidance Ir¢)m the Lhanty Commission and oilier or9anisaiions In lh8 Charity secioi. including NCVO. OSC and ACEVO In 2022 four now Trusie8s wèrè appoifttea lo the Board of Trusle8s afi•r a riwous recruilment and selecOn procedure They have &JditK)nal experts& aTrJ greaierdivèrsily. e. Organlsatlonal slructurè and declgion4naklng pollci¢$ The management ol the charity is the f¥$ty)n&b"lity of thè Tnjstees who are appthnted and w4)pied under the terms of the Articles of As4ocialion. Support for and ev8lu81tM of the rese8rch prtrje¢ts is undertaken by Trustees on a vduntary ba&s in assoriab.on with C5tlS Ibeluwl and in lulU years independanl evaluation exeTcAses and r¢p)rts will b8 k•n d. R¥l•t8d party rnl#tion*hlps The Iru5tees h8vè taken kgal on fh¢"s ar forthe irturp Ih¢ trusi has adopted will consisiently apply bespoke managemeni policy written by the speaa115l d)anty Wartrneni ai BWB In 81 Stone Kingl which eompaSseS the duty to avoby Confli of Irdere5t. lull dedaralions and Whe np£Es5ary provision5 for the propeF manègemenl of all inodences ol ttsnfit of Interest a)d loyalty lo ensurè that board 08cisions are reasonable, lxudenl, indeFendent and objècVe. indudiTrJ thOSO for Ihe allwaiion of grants. Page 8
THE LAUREL TRUST (A company lknlted by yrnntse} TRUSTEES. REPORT IcoiifiNUEDI FOR fME YEAR ENDED 31 JULY 2022 the edU¢ab0n18th1I 0Ur¢e and Wo Drks part-tiw. The Icffi)tr Company Secretary rc tD overwe fv gOV•mC8 finare ol the Trt left in 2019. These fitsThonS are carried t by Stone Xin9 Sokctttya •upported by the ¢lkr of th)Udt4r Tru$t•e methgs prowdes cnpng l•gal adwc. Plan• forfirtw• wlod• Th¢ TN8tee5 pkn to Ihe ol reseat¢h of 811 eurnnl resewth projest8- those sllu rrtg from b&ng hll by co and Ihe ones recthd p)5t<o¥Jd. Fw many thihJreTr there las * ¥1grdfK•nt IoB5 Dt fDnfid8fice and a hwJe knparl their learrrfng and eyclod pro9r065. Th8w par8nt$. c•rern, teachgrn ytnd th•ir r.arnnMInit h•vg ijntlw Imrn8n8e St. This 1$ pattiuAarfy In Ar888 of hardship. Th• Laurel Trust b¢ll8¥es fftat tho conbmeé grant fu"ng eTrab sd)oc4s to enga9e In creali¥e PToiect$ to ¢o¢Jnieract som• of lhe dmcultw. It hai already Seen ewdence Ihrough its pr4e¢ts, of gw6 in childron. r•athng. mental heatth and tAtry. Th? L•twel Tru$t Is tere deepty crrfnmthd 10 the comet10n of this k i¢h cukninakn in a 0nd Yrne put"¢1. d. rf ¢On w, a fApleintory conference. A rthw r¢und of rncruifvnt IB laknrvJ F4a¢• in Sprtnp2023. The Laur Trust IM¥e P11) to Unfverty ¢c41rye LLYth Inltui• of EdUC•U lo us• 3 htghly 8uBc4s¥fvI L•urel Trust rÈsearch case 8twJl81 ift1he N•Ooftal IalIfiCatD5 for L••d•r• •t 81 lev•ls kn ordar to Illustrate geod pracuce In AuJsm. Famty nks, and lewning theing. Fulher di%us$ionA are urKl8r way to extend thls potenJal in sharfng CS wactre thrwh xpowrg kn Ihese natM progrimme$. Thg tvt• of Educal)n most hpjhly red pr(Nider of ed?"0 Ihe wc¥1d 8nd ts p•rt of Uni¥erslty London, whith Y& Trt•d as <a•ss. O¥erBII n$ n•t0 indJ• th• (lind enhartwrnnt aftha b9tte •r¥J 0thorr•Jndutt• for kd, natk)ng1 and r49ignal dlwrnlrnatic so Ihal the maxinwn nurnber of seboc4s. ¢hth1M. famth'e8 and coMmutieS benefit from our research 1h schcds. The Laurd Trnst to have the eSt PO851Ne reh and 8ngag8ment r¥urg from Its rJrk and lo orgagP hkJhest posthle wrnber of 8spèd#lty In Page 9
THE LAUREL TRUST IA ¢ompany limited by giiaiani••l TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENOED 31 JLILY 2022 Th& Trusle88 l¥tho are alxa the dlreclu5 Ot Ihe Chhy for the Fxffjiose5 of coryany W aro Tespon&ible for ering Ihe Trustees, report and ststements m wrdarKe ap.¢11& Lw •d United Kkn¥l()m Artjiunlino StAnd3rd¥ Okniled lfjr4Jdorn GeraACce0led Ae¢oLmtiw Prarknl. Coryany rwwhs tho Tw5tg¢5 to prepare stal•rts for financ4al y•ar. Undèr company kw, Ihe Tntstees mu8t Dol appro¥¢ slatenxnts unless ihey we sab"sfied Ihai ty gw? a true and ew of the $tale al affw'rs ofth Ct4rty of rf¥ Incomfftg reaS and 8ppbcalti?n of r8source&. CludIng Ils and expondrture. trlhat pqrnd. lft ie Ilwdaj Jthtement8. fv Twjteu are f•wSred to.. 5dect 5Urtabkn ac¢otsnting Frltyes and tlwi apth ihem consist•nty". ob9efft melbods aT¥J pDn¢ip5 01 Iho SORP IFRS 1021: makejudgements and ¥x4wrting •stimaM V1 are reawblg 8nd wthyenl., state whether appli¢ob uKACC1vj Standards IFRS 1021 have be•n loMowd. Subject to iy matsrial deyrture¥ dlsdosed and explained the fmand81 itstonwnts. prepare the financkgl $1ot8mértis on the emcem ur418$ (i Is thwroprtAe 10 yesume Ihat Ihè Cknarityw cfjnbr kn IyAifi•M. T8 TNsi•es are Te¥onsiO kwplng ade thai ar• wffi¢bnt to 8hLSW explaln the Chartty8 tran8athon$ aTrJ thsdose ilh re¥#onJbl¢ accur8ty al any bme Ihe finan¢kg1 po$ilion of tho Charfty and anable Ihern io ÈnsJre thal lye Ir4anciai stsiomènt8 compty Ihe Cornpani05 Ael 2006. Th8y arè alga re$ponsible for SBfeguwdir*J the ats of Ihe and Iwc¢ taking reanats1e steps for prevention and deiectvjn offrd and olhar IrrWn. der cl Iho m•nb•rn ofthe IMrd ofTruBt••s slarj on thr b•h41ty'. W Goddard PagE 10
THE LAUREL TRUST IA company Ilmtted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDEO 31 JULY 2022 Independt examinerfs report to the Trustees of The Laurel Trust fthe Charit I report to the charity Trustees on my exanwnalion cl the COUrt5 of Ihe Charity lor Ihe year ende(131 July 2022. Responslbllltles and basls of report AS the Trustees ol fv Chadty 18na rts direcaors for wrFty)ses of company Iwl you ara r8sponsibl& for the preparation ol the xcounls In ac£CYthre wrth the wirements ol Ihg CnpanIeS A¢t 261'th? 20C6 A¢i'i Having satisfied myself thai the 8C¢¢xmts of Il Chanty arè not reqLired io be audited under Part 16 of the 2006 A¢1 aThy ar¥ eligible for indeperKlent exominaiff)n. I report In re¥Jeci ol my exarninaiion of the Chaniw5 accounts car11ed out under s8clion 145 01 the Charities Aci 2011 Cthe 2011 Act'l. In carrying out my examination I havg I18 the Dir8Ction5 given by Ihe Chaniy CL¥nmSI0n undw SeCtn 14SlSlltIl of Itje 2011 Act. Independent examlnerfs staternent I have ¢ompleted my oxamination I confimi Ihal matter5 have ¢ome to my atlenbon in ConCli0n with the examinabon 9ivir4 mo ¢aus& to tslieve.. a¢countlryJ records werg nol k8pI in re8peet oft1 98 rgqur8d by section 386 of th• 20Ce A¢t', or thè 8¢counls &) not a¢cofd with those records. or the a¢UnIS do not compty wlh the acctrJntsng requiremenis of $g¢tion 398 of tho X¢6 Act olher than any T1raMl that the accounts give 8 knJ• ond IAif vle 13 8 rnatter con&'dorgd a$ part of an Independenl examination.. or Ihe accounts have not been ptsped in 8ccordw wilh the rnelhods and pnnriples of thg S181èm8ni of Recornmended Practu for antrn9 r8p)rts"ng by ch81ities lapplieAtylg to chanb.es preparing their account? In occordan¢e th¢ Firwncial Roporl+ng Stor¥Jsrd opIe0t40 In lh8 UK and R8publib of Ireland IFRS 10211. I have no concerns and have Come ¥ross no olher malters in o)nnection wilh he exam¢nalion lo which ettents should bs drawn in this fgwt in ordor lo en*• a prcp8r tsiderstaTrJing of the a¢¢rNJnls to bè ra8ched. This report is made soldy 10 the Charflys Trustee5, as 8 t¥)ly, in accrxdance with Part 4 01 tha Charities IA¢cotn(s and Reports) Regulaticfts 2(M)8. My work has been undertak8n $0 Ihgt I might slate to the Charity's Trusiees those matters l am required 10 $18te to them in an I[endent examiners report and for rK) olhèr purpose. To Ime fullest extent permilted by kn¥. I do not 9pt or ass¢Jme SpsibIlitY 10 anyone other tlian the Charityand th& Charivs Trustees a5 a tK)dy. fc¥ my work orfor ttis TekK Dated.. 06 June 2023 ncAn chrne-t BS¢ BFP FCA MHA Maidsione Unittrd Kirodom Psge 11
THE LAUREL TRUST IA e¢>rnpany Ibmiied by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY ZOZZ Unrestrfcted lunds 2022 Total funds 2022 To181 ftjnds 2021 Note InGome from.. InvestmlS 66,347 54347 65, Total Income 66,347 54347 65,650 Expenditu on: Raising funds Chai'ilabl6 aclivilies 19,879 192,728 19.879 192.728 20.531 Total expendlture 212.607 211607 319,913 Net expendl¢ure beforn net I10s8e$Vgalns o Investrnents Nel11055esllgains ty) in¥estm•iis 1156,2601 1137,1811 1156,2601 1137.1811 1254.2631 194.104 Net movemtrtt In funds 1293,441} 1293,4411 160 1591 Reconclllatlon of fvnds: Total fLinds brought fopward Nei movement in funds 2.780.377 1293,4411 2.780,377 1293,4411 2.840.536 160.1591 Total funda earrt•d lopNard 2.4DO,93a 2,488,936 2.700.J77 Thè St*emenl ol financial IU(l0$ al 9ain5 losses recogNs&l in th9 year. Tho ThJie$ gn pages IS to 27 form Fk8rt oflhese fy[31 $weM¢S. Page 12
THE LAUREL TRUST IA company Ilmited by guarantee) REGISTERED NUMBER: 057T4260 BALANCE SHEET AS AT 31 JULY 2022 2022 2021 Note Flxed assets Investments 11 1574,029 3,002.401 1574.029 3,002.401 Current a$sot¥ Dtrbtors Cash al bank and in harKI 12 2.71 3 125.944 247 49.1&8 128,667 49.403 Creditor8', amwnts falling ¢Jue wilh'n one year 13 1215,7501 1271,4271 Net current Ilabllltles 187,0931 1222.0241 Total assets less currtnt Il•bllltl•s 2.486,936 2, 180.371 Net aB5ets excludlng penslon asset 2,486.936 2,780,377 Total nèt aets 2,488,936 2,780.377 Charlty funds Re31ncted funds Unrestricted fuThJs 15 15 1486,936 2,780,377 Total fundB 1486,936 2,780.377 Page 13
THE LAUREL TRUST IA cofflpany limrted by guarantee) REGISTERED NUMBER.. 05774260 BALANCE SHEET ICONTINVEDI AS AT 31 JULY 2022 Thé Chanty wa5 enlitièd exempb'on from uThJer section 477 01 the Cornpanies Act 20c. The members have wt raquired the company to obt&n 8n audit lor Ihtr year in qu8stson in a(xordance with Section 476 of cPaNeS Aet 201%. The Trustees aCne(S3 ththr re9PMDitrs wm tne fequIr¢rnlS uf Ilw AGI with re5peGI 10 accounknng rerdS and preparatw oflinanad StatentS. Th8 *'nCIal 5talemènls have teen pr8par&J in ar£dce wth Iha pro¥ision5 lble lo enliles subpct 10 the ymall CfKnpanS regime. ial staiements were approved ancl aults'S¢d for issue by Trustees and n0 on their tyèharf by.. The fi WGoddard R Dvrban Dalo.. Tts notes on pag8$ 15 to 27 fom part ol these finanaal 5ts10monts. Page 14
THE LAUREL TRUST IA ¢ompany limited by guarantee) hlOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 General Infommtion The Charity is a private compay limited by guarantee The membws ol the company a the Trustees named on page 1. In event of the Chanly ting wourvj up. the Iiab41ity in m$ptct of tM gu8ranlae Is Itmiied to £1 per member ol the Chwily. The 8diJress of the registered office is clo Stone King. goundary House. 81 Charterhwse Street. London. EC1M 6HR The finanaal statements are presenled in sterling which is tho fvn¢tiona ¢urrerw of Iha charity and a rrthded k) the nearest pound. The nature of the chanty's operah.ons 8ryJ W[4paI acbwts.es afe -the advanrnent of education, in partirAJlai Iwilhout prejuth'ce to the 9graityI by prornoling. IrnFYoving and devdopinj educational 18gdarship In Set$. local 8(Jcati¢M aut)n8$ an(J other organisabth)s supporting or providing education regionally, naballY and IntematKtnally' lextract frorn the 0edS in the Articles of A$SclatiOn 20161. Accounllng pollcle$ 2.1 of propartloA of Ilnnclal •lat•mnts The finanaal $181ements ha¥e tegn prepared in a¢¢tydanc8 wilh the CharitS SORP IFRS 1021- Accounting and ReFthno ty Charities.. St8temont of R0crnended Practice appli¢abJ8 to ¢haritl6s pr8parirrtJ IMr accwnls In eIdance wth lh8 FinawAal Rewtiry Standard spiCab58 in th8 UK and Reput1¢ of Ile1j IFRS 1021 {effeCtI 1 January 20191. the Financial Repjruro Standard app+1¢•b in lh• UK And of Irèland IFRS 1021 and tho ¢orrp8rw•s Ael 2Ci)8. The Laurel Trusl rne81S the definition of a put4ie ber( enlty under FRS 102. Assets and liabililkgs 8re initially re¢Tr$e al hi$lorical cost crf tr¥rwction Vall unless otheNvi80 ststed in Ihg rglgvant accounting p¢Sicy. 12 Golng ¢on¢¢m There ara t) mgltsyid LWK8rtainlies affgdiThJ th8 Chanti$ &>ility lo conUnu• and the Tru$iee8 h8V& e reasonable ewectation that th8 Charity has a(1gquale rescyjrces to coniirnje in 0ratIonal existence for tt)tr for$able future. For tkns rÈ8SlKI they ccntinue its adoix Ihe goiThJ Ccern basis in pwaring ttr finanaal siaiements. 2.3 In¢omt All income is recowi68d oneg th• Chanty h45 Onli@t to the inccrfnp it is IhAt the $rorne will be rBceived thB amnI ol in¢ome rec&vable ¢8n te mèasLKed rlay. Income lax recoveratrAe In rdation to In¥esiment 1$ reo)Jnised at the bmè tha investment irrne is revable. Page 15
THE LAUREL TRUST IA ¢tsmpany limltèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Account9 policles Icontinuèdl 2.4 Expenditu Expenditure is rÈcognised once Ihere is a legal or con3tructive lgaOn to transfer economic benefit In g third PArty. il ig prt)bahle Ihal a transfer ol economic b8nefils 11 be requId In settlement and the amount of the obligalion can measurecl rellay. Expendiiure Is dassified by aciivlly. The costs 0¢ 9ach actsvity 8re made up of tts iot of airecl c0515 and grHred costs. JnclLJin9 $UPPOrt cost5 inV¥•d in und8rt8king each acliwty. Direct costs 8ttr1bLrtab lo a single acltwty are sKoted ¢reclly 10 that acliwly. Shared costs whch Con1nle lo more Inan one and support costs which are rKt allnbutable 10 a single actiwty ale appOrtiCe¢ tseeen Ihos6 acti¥itses cyt 8 basis consisienl wilh the use ol r8sour¢es. Central staff ¢ost$ are allorated c¥7 lh& basis ol lime 5p6nl. and Oeyecialion th8rgès albcaled on thè of the asset's Usg. Expendilure on rai$ing fLtnd5 Cl[leS all eXpenthtU imjrred by the dharity to raise funds lor ils ¢harilat4e wrposes and IdeS 1$ of all ndrels1r@ acii¥Alies events arKJ non-chariiable tr8ding. ExwiiUilui¥ un cjiari1ae acbvilS Is irKurred on diroclly uNdrytakin9 Ih) actswtl86 wh ILlrthw th• Charitys obi"8Ctives, as well as any asswated SUFPOrt u>st$ Grnnts p8yaNe ar• charged In ts YearW tr offèr is made exwt in Itse cases wher• the offer is coocjilional. SLKh sY8nts betng recognised as eKpendilure th8 conditions allaching ar• full1ed Granls offered subjeci io conditions which have Th)1 been mat ai the year end arè noted as a commitment. bul not accr0 as 6ypendfftJr¥ l exFenditrJr• Is Indusivè ol irrerab VAT. 2.6 Interest recelvabl• Interèst on fund$ held on dep)Sit is induded w recavatme ana tne amount can ba measureLJ rdiably by thè Charity.. Ihis is norrnally up)n notification ol the int8fest paid or payable ty the in$1ituli with whom the fuThJs are deFK)%ted. 16 Investments FIX asset inv951m8nts arg ¥ fom of n&al instrument 8nd arè lrrftiIY r8cognis•d 91 their transaGbiYi cost and subsequentty measured 8( fair value ai the Balance 5heéi d8ie. unless the value ¢anNA ba rneasured liablY in whid) case It Is me8Sthad at cost kss Impairment Investment gains ano IiJs5ES, whfStliEN tvali)¥NJ or L*ealised. are combined presÈnied os 'GointJlLtsseosl on Investrnents. lh8 Stslement offinanad actimbes. 2.7 Dèbtor8 Trade and other dèbtors are reciNJni5ed at the 5etUemenl arnount after any trade discount oNeTed. Prepayments ar8 vdued at thè 8mcux Prepaid nel of trale di8oounts 18 Cash at bank and In hand Cash ai bank 2nd in hand IrKivJes cash and $hort4erm ttighly IquKI Inv8slments wth a short maturity Gl three months or less from the date of acqui11 ¢y opening of thg depogt or simil8ratcount. Pajè 16
THE LAUREL TRUST IA company Ilm6ted by guarantee) NOTES TO THE FINANCiAL STATEIAENTS FOR THE YEAR ENDEO 31 JULY 2022 Aectsuntlng policiÈ¥ l¢ontlnuedl 19 Llabllltl¢s ind provLslons Li&ililies are recogThsed when is an OljatiOn at the B81on¢e Shesi date a$ a result of a past eveii( It i¥ y¢ub¥bl¥ Iki¢il o liiwibfw vf lU1¥NG b¥(Ydlit will ip¥ ivyuiied iii lI1¥In¥l]l, aiiQ Ili¥ aiiiouiil of Iha selyement ¢an b& èsts"md f8liaLIy Liilitses recognised at It arnojnt that the Chanty al¢1PateSll will pay lo sellle the debt Of arno)1 Il ha$ rxwved as advaerf paents for the w)d$ or s8rwc•s It mu$t provide. Prowsion$ are measurèd at the bost estimate of Ihe amounts required to Settle the ¢)bllgatlon WMer8 the effect of the time value of money is fflatenal. Ihg pr0¥15ion Is based on the present V81ue of thos9 amounts. th'scoLmled at Iht p-taX discfxml rale Ihal r8nects the nsks 4pecihc to the Iiajillty. The unwinding of thè dise4JLnt Is r8cconisÈd In lh& Slalement of fin3rri81 a¢tiwb'es 8s a financ£ cost. 2.10 Flnan¢lal Instruments The Chwiy orY has financial assets and fin8n¢i81 Il#tsliil8s ol a klnd thal quelrfy as basc flnancial InstrunlS. Basic finanoal instnjmenis afe inits¥ly recc>Jnised al tra10n value and subs6quenlly mDasured at thr settlement value Ihe excepti'on of bank loans which are subsaquenuy m6asured al 8rn0rt15ed cosi usin9 the offectwe nterest rnethod 2.11 Fund •ccountlng Genw4 ftnd$ Ltnr8Stn"cted funds afe avafj8 ts usè al thè dscretion of Ihe Truslg9$ in furth8rarKe ol the gra1 c'e¢tyw ol tho Charity and whth havo not fjn designatsd for other purpos85 Designated funds comwss8 Unkn.¢t ftjnds have be8n sel al'de by the Trustees for parts"cular rposes The aim use of eh de$HJnated 1$ sèt OLrt In the noleB to the lsnancial stalements. Investment inccffle. gAins losses are dlocatfrd io the apwcpn'ala lund. Imittstment Income Unrestrlcted funds 2022 Total funds 2022 Income trom lisleil Investments 56.270 77 56,270 77 Bank interest Total 2022 58,347 Page 17
THE LAUREL TRUST IA company16mtted by guarante¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Invèstment income (connUe) UNastricled funds 2021 Total funds 2021 Income trom listed invlmentS 88nk iTrterg 6S.846 65,648 Total 2021 65 650 65,650 Investment management cost Unr8strlcted funds 2022 Total funds 2022 Investrnent management fees Inveslmenl miscellaneous charges 19.807 72 19,807 72 Total 2022 19.879 19,879 Unreslricied funds 2021 Tola lundg 2021 Inve$knl nanagernenl foes Invèstment IYW6c418neoLM clwges 20,459 20,459 72 TO[* 2021 20,531 Analys1$ ol grants Grants to Intitutlons 2022 Total lunds 2022 Grants pay•L4e 98.709 P¥18
THE LAUREL TRUST IA company limited by guaranteel NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Analy515 of grants (Gor¥tlnuedl Grants I Insts'lutions 2021 To181 fuThls 2021 Grants payable 224,720 224,720 Tho Chaftty has mado the malerid lo insh"tic5 dumg the ye¥.. 2022 2021 Nam• ol In¥titutlon Grgflon Primary Sehool Icohort 41 Courthouse Green Primary Sthcul ICoh¢>l 41 The Dales Teathng Schod Alliance IColTh 41 Schod 21 (Cohort 41 Sl Catherine's cathol Pn"mory Sch1 IHallaml Icthort 41 Owler 8rook Primary and Lality In parThwsPu"p bwth th8 NHS PararKI Primary S¢h¢ol r¢ Cy')¥8ry S¢ts)ol$ ATrY Tnjst Caludon C8sUe Icohrxt 41 R¢ywlay (Cohort Sl Lions Icohort 61 Okeharnplon Prirnary Icohort 51 Croyland Nursery Group Iths5emirotiM grant) Pgrkland Primary St*ool {dl$s4mlnats'on granll 33,750 34,0 24.970 25,600 25,000 40,000 19,400 {16.9001 40,000 1 S.900 14.600 19,000 New grants Irded In y•ar Other grants to ingtitulions- rfissemination 93nts 87.709 222,220 1.000 Total Grants 88.709 224.720 Page 19
THE LAUREL TRUST IA company limited by guarantee) NOTES TO THE FINANCWL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Analy51$ of grants Icontinu8dl An addts'wal Cohort 4 grant of Ef9.4GY) was to CuL¥"tl T¢ywn at the start of the year making total grants of £241.620 gwarded coh 4. Hcwev8r. thjring the y$ar the St Johns gr8nt of £15,900 was revoked whan they dropped out ol Ihe 5cJ*me and £291 was not to De fi•eded by Comminitas Education Tusi IMATI. Cohort S grants awwded In Ihe year amounted to £84.500 and 8 furlhar disserninaiion grani £1.OCL) wa awarded yagr. Artaty8ls of exptndlture on ¢haYltable a¢tlvttles Summary by fund type Unro$trScted lunds 2022 Total 2022 Gfanl mthing act1w$ 192,728 192.728 Unrestricted lund$ 2021 T81 2021 Grant m8kirwJ aciivltigs 299.382 299,332 Analysls of expendlture by a1¥11118 Grant funding or actltIeS 2022 Support costs 2022 Total funds 2022 Grant md(ing aCtiS 88.709 104,019 192,728 Gi8ni fmding of tmlies 2021 Support costs 2021 Total funds 2021 Grant makirvJ 8cts"wties 224.720 74.682 299.382 PaJe 20
THE LAVREL Trusr {A company Ilmlted by guaranteel NOTES TO THE FINANCIAL STATEMÈNTS FOR THE YEAR ENDED 31 JULY2022 Analysls of expendlture by activlties Icontlnuedl Analy81s ol support Costs Gfant making actlvltles 2022 Total funds 2022 Travel and sub515lerte Prlniing. postage and statsonery Qther expenses Training R•nt and rat•s Computer stjpplies arK3 chgr9eS BK charges Legal and prolesglonal Marketing R8cruitm¢nl costs Olhgr accountancy lees 2.074 2,074 35 93 35 93 187 187 50.914 7,494 28.8C<J 10.69S 60,914 7,494 28,800 10,895 104,019 104,019 Ouring the year ended 31 JY 2Q22. th8 Charity inujrrtd Ihg lollth¥iThJ Govemance eosls.. £5.4031221. £4.7201 Included within tab *Jov8 in fespect ol the indeFen(Senl gxarnlnation ol Ch8ri1l$ 4Mual accoLnts. Page 21
THE LAUREL TRUST IA company Ilmlted by guarantetrl NOTES TO THE FINANcL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Analysi$ of xpendlture by actlwtlés Icontlnuedl Analysls of support Gosts (¢ontlnued Grant ma.9 aGtivilies Total funds 2021 2021 Travel $ubs1&e PrinlirNJ, Postage aThJ slaboiwy Other •xpenses Tra1ning Rent and ral8$ Computer supF4ies ¢harggs 8anK cnarges L8oal an¢J prole55iu) Marketing Other attoun10n fees 4S 6.09) 45 6,090 35 23 3.052 201 23 3,052 201 47,082 8,502 11,546 47.082 6.502 11,546 74,662 74.662 Independent examinerf8 remuneratlon 2022 2021 Fees p8yable lo the Charitfs ind9pendent exwntngr for Ihe indepwKlgnt èxamination of the Chty'S annual 8LX(xJnis Feès paYae to Chls Indepar èxaminer in respect of. All other sery1$ rYJt inded 5,403 4,720 6,292 6.826 Paje 22
THE LAUREL TRUST IA company Ilmlted by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Staff eosts Th8 avwage nlber of perSS empkJy8d by the Charity dunr¥J the ye8r was as folkyws.. During th8 y¢ar Ihg Charity had no •iWo>B&s12021." nfm•} The average nLmber ol ernOYees Wort NIL12021". NIL) During the year. wwJ$$ solaries were ZNIL12021.. £NIL} No 8mploy8es received rèmuner&tity) to MO th W.D)O In y8¥. 10. Tru$t•gs' r•mun•ratlon and expenses During Ihfr year. no Tn2st5 r8wved any ramwrats or tstr b8n8ffils13)21 - £NILI During tho yr .?? ? ¥rAN. $ub8iane8 ano tran9 gxpgn8e& lotdlino £1.781 w•re reimburs8d lo S Trustees12021 . £6810 1 frusl881. 11. Flx8d a8S•t In¥estment Oth•r flxed as$et Lted Investments Investment• - Cash Total Cost or valuillon Al 1 August 2021 Addition$ Disp05als Revaluations 4962.$82 279,B97 1585.20SI 1137,1811 39,819 628,996 (289,8791 3,002A01 908,893 1875.0841 1137,1811 132S,0001 1325,0001 Other Iransf9rs Al 31 July 2022 2.520.093 63,936 2,S74,029 Not book valu• At 31 July 2022 1620.093 63,936 2,574,029 Al 31 July 2021 2..582 39.819 3,002.401 Valuatsons are promded by the Investment managers, Evelyn Partr. the listed invèstments are based on the quoted market wce in acbve market Page 23
THE LAUREL TRUST IA company Ilmited by guarantee) NOTE5 TO THE FINANCLIL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 12. Debtors 2022 2021 Ove vAthfin one year Other debtors ppaYmentS erd accrued Incom8 1582 247 2,713 247 11 CredIto. Amouftts folllng dut wlthln one year 2022 2D21 Trade ¢reLlIlCKS Accrugls and delerre¢ IrKom8 Grant$ accrued- inst11ubal 41.456 14,136 160,180 1.098 10.464 259.865 215,750 271.427 14. Flnanclal Inslrum•ntg 2022 2021 Flnanclal assets Finanoal ass8ls meaSUf¥d at lair value through i¢8 atvj èxpenditure 2.520,093 2.962.582 Fin() assets measured al lair thrwgh income and expenditure thmprise fixed &rysel investment$ PwJe 24
THE LAUREL TRUST IA company limited by guaranteel NOTES TO THE FINANCIAL STATFMENTS FOR THE YEAR ENDED 31 JULY 2022 16. Slalement ol lund$ Statement of funds- current ar Balance at 1 Auoust 2021 Galnsl 8alance at (Lossesl 31 Julv 2022 In¢ome Expenditurg Unrestrlcted funds General Funds 1780,Jn 66,347 1212,6071 (137,1811 2,486,938 Statement ol funds- prlor year Balance at 1 August 2020 ExpeNJtu Gainsl 8alan¢o at ILossgs1 31 July 2021 Unre8trfcteLS lullds General Funds 2.840.536 65,850 1319.9131 194.104 2,780.377 Page 25
THE LAUREL TRUST {A company limttÈd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 16. Summary of lund Summary of fvnds- current y¢ar Balanco at 1 August 2021 Galnsl Batance al (Lossetsl 31 July 2022 Income EXpendIr& GenefBI fuThfj$ 1780.3n 56.347 {212.6071 1137.1811 2,486,936 Summary offunds- prfor year 1 Au9JsI 2020 tsalnsl 88ian¢e at ILos$asl 3? July 2021 Income Expwdilw• General fur>Js 2.840 Jgo 05.650 1319,0131 104.104 2.?.371 Pwjè 26
THE LAUREL TRUST IA eornpany limited by guarantee NOTÈS TO THE FINAhlCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY2022 17. Analy51s of nel assets betwpen lunds Analysi$ of net assets betw•8n funds- crrent year Unre5trleted funds 2022 Total funds 2022 Fixed asset invesinnl$ Current assets CTeditor5 due vthhin rrn year 2,574,0 2,574028 128,657 128,657 121 S.7501 1215,7501 Total - 2.486.936 2,4B6,936 Analy818 ol net ag8et¥ betw¢•n fund•- prtor y¢4r Unrestricted 4nds 2021 Total funds 2021 Fixed asset In5¢MOnt$ Current 85se¢s Creditors due wlhin one yg 3.W2,401 3.002.401 49,403 49,403 1271.4271 1271.4271 Total 2,780.377 2,780,377 18. Related party transactlons Irluded in legaf prclessionai fees is £28,SXI {2021.. £20.9251 Invcmced by M A Roger Assoclates Limited, 8 company w*lh a dir8Ctor, M ROr. who is 8150 8 consult¥nt drgclor of Thg Lawel Trust. As at Ine balance sheet aate £4,CW {2021" £2.OC(11 wa5 Ful¥1[1 ii)dude(J In rttdiiors. Also during the par M Rwr was paid tra arvj subSter ymNitS vanwnliro lo £29312021". Enill. Induded in legal atKI professional fees 1$ £24,41312021 £22.1441 1nvThd by Stone Kin9 LLP, which was the r(Ynpany secretary of Lre1 Tru51 from 27 March 2(r20 10 13 9eptember 2021. As at th8 balance sheet dale £2,75312021." £2.2041 was outstanth'ng and tndutsd In credilor5. Page 27