**The Laura Case Trust**
**Trustees' Report & Financial Statements**
**for the year ended 5 April 2021**
**Registered Charity no: 1119556**
## **The Laura Case Trust**
||**Contents**|
|---|---|
||Page|
|Trustees' Report|1-3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7-9|
||**The Laura Case Trust**|
|---|---|
||**Charity Information**|
|Trustees|Mr D Case|
||Mrs A Case|
||Ms M Case|
||Dr D Moor|
||Ms D Tsatsas|
||Dr N Richmond|
||Mr M Gyles|
||Mrs V Gyles|
||Ms K Sturgeon|
||Ms J Amey|
||Mr Ben Connah|
|Principal Address|The Old Rectory|
||Church Road|
||Brockdish|
||Diss|
||Norfolk|
||IP21 4JJ|
|Investment Advisors|Rathbone Investment Management Limited|
||Port of Liverpool Building|
||Pier Head|
||Liverpool|
||L3 1NW|
|Bank|Barclays Bank plc|
||1 Churchill Place|
||London|
||E14 5HP|
|Independent Examiner|Gilbert Holbourn, FCA, FCCA, DChA|
||1 Upper Bridge Street|
||Wye,|
||Kent|
||TN25 5AF|
Page 1
## **The Laura Case Trust**
## **Report of the Trustees**
The trustees present their report along with the financial statements of the charity for the year ended 5 April 2021.
## **Reference and administration details**
The trustees are appointed by the Board of Trustees.
The trustees who served during the period were:
Mr D Case Mrs A Case Ms M Case Dr D Moor Ms D Tsatsas Dr N Richmond Mr M Gyles Mrs V Gyles Ms K Sturgeon Ms J Amey Me Ben Connah
The trustees meet formally at least once a year to review the affairs of the charity.
## **Structure, governance and management**
The trust is an unincorporated trust, constitued under a trust deed dated 21 March 2007 and is a registered charity, number 1119556.
Page 2
## **The Laura Case Trust Report of the Trustees (continued)**
## **Objectives and activities**
The objects of the trust are:
To advance the education of the public, particularly in the study of medicine and related subjects by such means as the trustees shall consider beneficial including the funding of training and research, the publication of educational material, the provision of training, the award of scholarships and prizes and other financial assistance to schools and colleges or to students of medicine and related subjects, the provision or funding of equipment or facilities at schools, colleges, universities, hospitals or medical research institutions or the making of grants to other charitable bodies carrying out such objects.
To support research into the causes, treatment and relief of disease and disability by providing extra facilities or equipment at schools, colleges, universities, hospitals or research institutions or by making grants to other charitable bodies carrying out such objects or by such other means as the trustees shall consider appropriate.
## **Achievements and performance**
During the period, the trust has made grants to various UK and overseas bodies, helping with the provision of education, medical training and medical supplies.
## **Financial review**
The trustees are satisfied with the level of donations during the year. Operating costs and costs of generating funds are kept to a minimum and are managed effectively by the trustees.
During the year the trust realised a gain of £39,877 and ended the year with reserves of £238,691 which are considered sufficient for the ongoing charitable activities of the trust.
Reserves are held primarily to ensure the trust is able to further its objects as required and for the long term.
## **Trustees responsibilities**
The law applicable to charities in England and Wales requires the trustee(s) to prepare financial statements for each financial year which give a view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
##
Page 4
## **INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 5 APRIL 2021**
I report to the trustees on my examination of the accounts of the above charity for the year ended 5 April 2021.
## **Respective responsibilities and basis of report**
As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the 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 which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or
the accounts did 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.
Gilbert Holbourn FCA, FCCA, DChA 1 Upper Bridge Street Wye Kent TN25 5AF
Date: 4 February 2022
Page 5
## **The Laura Case Trust Statement of Financial Activities Year Ended 5 April 2021**
|**Note**
**Incoming resources**
(Note 3)
Donations
Investment Income
**Total Incoming Resources**
**Expenditure on:**
(Notes 4 & 5)
Charitable activities
Costs of collecting online payments
Other fundraising costs
Investment management fees
Bank charges
Administrative Expenses
**Total Expenditure**
**Net (resources**
**expended)/incoming resources**
**before transfers**
Transfers between funds
**Net Expenditure**
Realised gains/(losses) on disposal
of investment assets
**Net (resources**
**expended)/incoming resources**
**including realised losses on**
**investments**
Unrealised Gains/(Losses) on
investments
**Net movement in funds**
Funds Balances brought forward at
6 April
**Funds Balances carried forward at**
**5 April**|**Total**
**_Total_**
**Year ended**
**_Year ended_**
**5 April 2021**
**_5 April 2020_**
30,173
_14,544_
2,544
_5,254_|
|---|---|
||**32,717**
**_19,798_**|
||25,827
_22,460_
360
_418_
-
_-_
1,958
_2,021_
168
_181_
-
_-_|
||**28,313**
**_25,080_**|
|||
||**4,404**
**_(5,282)_**|
||-
_-_|
||**4,404**
**_(5,282)_**|
||34,593
_(932)_|
||**38,997**
**_(6,214)_**|
||880
_(27,599)_|
||**39,877**
**_(33,813)_**|
||198,814
_232,627_|
||**238,691**
**_198,814_**|
||Nde|Total
Tdol|
|---|---|---|
|||sAplll2m15April2020|
|FixedAssets|||
|ln\restments
Fixed Assets|(Note 6l|227,923763,677
u27,92?763,677|
|CurrentAssets|||
|C:shatbankandinhand||to,77o
31197|
|Cunent Assets||35,797|
|Net Ass€ts||23s,69? lqpu_|
|Fm&oftteChadty||2:18,6917%,814|
Page 7
## **The Laura Case Trust Notes to the accounts Year Ended 5 April 2021**
## **1. Accounting Policies**
## **INCOMING RESOURCES**
## **(a) Recognition of Incoming Resources**
These are included in the Statement of Financial Activies (SOFA) when: (a) The charity becomes entitled to the resources; (b) The trustees are virtually certain they will receive the resources; and (c) the monetary value can be measured with sufficient reliability.
## **(b) Incoming resources with related expenditure**
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
## **(c) Grants and donations**
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## **(d) Tax reclaims on donations and gifts**
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## **(e) Investment Income**
This is included in the accounts when receivable.
## **(f) Investment gains and losses**
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluation at the end of the year.
## **EXPENDITURE AND LIABILITIES**
## **(a) Grants payable without performance conditions**
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met related to the grant which remain in the control of the charity.
## **ASSETS**
## **(a) Investments**
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## **2. Related party transactions and trustee's remuneration**
Trustees received no emoluments or expenses for the year or previous year. There are no related parties of the trust.
Page 8
## **The Laura Case Trust**
## **Notes to the accounts (Continued) Year Ended 5 April 2021**
|**3. Analysis of incoming resources**
**Voluntary income**
Voluntary donations
**Investment Income**
Interest Received
UK Dividends
Overseas Dividends
**Total Investment Income**
**4. Analysis of resources expended**
**Costs of generating voluntary income**
Membership fees, bank charges, costs of collecting online
payments, investment management fees, other
**Charitable activities**
Distribution of funds within the purpose of the charity
**Total resources expended**|**2021**
**_2020_**
**£**
**_£_**
30,173
_14,544_
825
_2,327_
1,287
_2,099_
432
_828_|
|---|---|
||**2,544**
**_5,254_**|
||**2021**
**_2020_**
**£**
**_£_**
2,486
_2,620_
25,827
_22,460_|
||**28,313**
**25,080**|
No payments have been made to Trustees for remuneration or expenses during the current or previous year
_Page 9_
## **The Laura Case Trust**
## **Notes to the accounts (Continued) Year Ended 5 April 2021**
|**5. Analysis of charitable expenditure**
**Names of institutions/individuals & Purpose**
**PEAS:**
Promoting Equality in African Schools
**Moses Byomuhangi:**
Bursary at Kampala University - Doctor Training
**The Mvule Trust**
The Mvule Trust is a small, bespoke charity providing scholarships
to young people in their late teens and early 20s. It currently works
in over two dozen of Uganda’s poorest districts, where less than
10% of adolescents complete secondary school.
**ECSACOP**
The East, Central and Southern Africa College of Physicians aims
to improve access to well-trained physicians across the region by
establishing a network of dedicated training centres and
implementing an internationally recognised postgraduate medical
qualifcation.
**Palliative Care Education and Research Consortium**
The Consortium operates a centre of excellence which improves
access to quality, evidence-based palliative care for patients and
families in need through deliverting and integrated clinical service,
carrying out research, advocacy, training and capacity building, in
collaboration with partners.
**Total**
**6. Investments**
Opening Fair Value of Investments held
Acquisitions
Disposals
Realised gains/(losses) on disposals
Unrealised gains/(losses) on disposals
Total gains/(losses) in the year
**Total Investments**|**2021**
**_2020_**
12,091
_11,214_
2,256
_3,686_
1,000
_1,000_
-
_6,560_
10,480
_-_|
|---|---|
||**25,827**
**_22,460_**|
||**2021**
**_2020_**
**£**
**_£_**
163,617
_201,418_
227,012
_12,605_
(198,179)
_(21,875)_
34,593
_(932)_
880
_(27,599)_|
||35,473
_(28,531)_|
||**227,923**
**_163,617_**|
The above investments are all listed or quoted investments.
The charity's investments at the period end are materially entirely held in one diversified, actively managed, equity fund, the Rathbone Greenbank Strategic Growth Portfolio Fund. The details of the fund management, aims and portfolio strategy are publicly available on the Rathbones website. This fund was selected because its balance of return targets and volatility, in the view of the trustees, meet the aims and objectives of the trust.