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← Peter Lang Children's Trust

2023-12-31-accounts

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Charity registration number 1121344

Company registration number 06037671 (England and Wales)

PETER LANG CHILDREN'S TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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PETER LANG CHILDREN'S TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees
Charity number
Company number
Registered office
Principal address
Independent examiner
Bankers
Investment Manager
Solicitors
Trust Manager
Website		 P A Perrins
(Deceased 23/5/2023)
O B Osicki
J E Holland
(Treasurer)
S Hawkins
R Balbernie
P J Sweet
(Appointed 30/8/2023)
A B Smith
(Appointed 30/8/2023)
1121344
06037671
Thatcher House
12 Mount Ephraim
Turnbridge wells
Kent
TN4 8AS
Units 4-5, City Works
Alfred Street
Gloucestershire
GL1 4DF
Samir Shah FCA, ATII
Ramon Lee Ltd
Chartered Accountants
93 Tabernacle Street
London
EC2A 4BA
Lloyds Bank
PO Box 1000
Andover
BX1 1LT
Rathbones
159 New Bond Street
London
W1S 2UD
Bates Wells & Braithwaite
2-6 Cannon Street
London
EC4M 6YH
Ms D Mautterer
https://plct.org.uk

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PETER LANG CHILDREN'S TRUST

CONTENTS

Page
Trustees' report 1 - 11
Independent examiner's report 12
Statement of financial activities 13
Balance sheet 14 - 15
Notes to the financial statements 16 - 25

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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

Mission Statement

"The aim of the PLCT is to increase the number of babies and toddlers (conception to 3 years of age) in Gloucestershire who experience loving, nurturing and harm-free childhoods."

The Trust's strategic plan, with a specific focus on Early Intervention, was launched in October 2012.

The Trust's conviction is that this will help provide children with a secure social and emotional foundation for the rest of their lives and will reduce the likelihood of those later aggressive, harmful and self-destructive behaviours that result from damaging experiences in infancy.

2023 saw the continued implementation and refinement of a robust quarterly monitoring and evaluation process for all grant recipients. This process requires all grant recipients to specify their intended outputs and outcomes for each quarter of delivery and for the proposed programme of work as a whole. Grants are disbursed on a quarterly basis and the release of funds is dependent on the successful completion of quarterly monitoring returns for the preceding quarter. Applicants for funding are required to explain how they will help the Trust fulfil its mission, and how they will demonstrate that their programme has had an impact upon its targeted beneficiaries. The Trust expects projects to apply evidenced based methods when evaluating their outcomes.

It is anticipated that applications will meet 8 out of the following 10 specific short-term outcomes.

Grantmaking

Grants are primarily made to registered charities operating and based within Gloucestershire. There is a preference to fund small to medium sized organisations (i.e. income between £10,000 - £1m pa), but the principal criteria is the selection of organisations that will enable the Trust to fulfil its mission and targeted outcomes.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Furthermore:

Achievements and performance

Sources and Utilisation of Funding

The approved philanthropic budget for 2023 was £393,503 (the approved budget for 2022 was £389,047). Actual funds released in 2023 were £393,503. The 2023 Awards Event was scheduled to be held on 31st January 2024, with funds of £5,500 due to be released in January 2024 for the 11 Peter Lang Star Awards (£500 each).

Funding is normally generated by an internal source and no external fundraising activities are currently conducted. This source being:

Available funding is used to identify, evaluate and support existing organisations, which address elements of the Peter Lang Children's Trust's mission and targeted outcomes as identified in its 2012 Strategic Plan (Early Intervention). The Trust itself does not deliver programmes or activities.

Achievement Awards Evening

The Achievement Awards Evening for Looked After Children, organised by the Virtual School, was scheduled for 31st January 2024 to be held at The University of Gloucestershire. Peter Lang Star Awards were to be awarded to 11 young people who had secured a place at university. The Trustees had made the decision during 2023 to stop contributing to the cost of the event, however it was agreed to continue to fund the Peter Lang Star Awards.

New Grant Recipients

A grant round was held in 2023, with 9 applications being approved for funding to begin in January 2024. Their first quarter payment was made in advance in December 2023.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The Churn Project (£9,995.75)

(CHURN-2024-03)

The Churn Project works with the people and communities of Cirencester, particularly the wards of Beeches, Watermoor and Chesterton. They provide support and services for local people especially those who are isolated, socially excluded or in hardship, with a focus on older people, unemployed people and young families, finding practical solutions to meet their needs.

The PLCT grant was awarded for continued work with vulnerable families in and around Cirencester, supporting struggling families with children from pregnancy to age 3, with: Antenatal RSB groups; Mummy and baby groups; Mini-toddler groups; 121 support - parents of under 3s.

This grant was approved for 4 years, starting January 2024.

Cirencester Opportunity Project (£10,500)

(COG-2024-01)

Cirencester Opportunity Group is an independent Early Years Centre, which offers care and education to children aged between 2 and 5 who live in Cirencester and the surrounding villages. Support is also given to parents through outreach work and a range of family sessions, which cater for families with children from birth up to the age of three.

The PLCT grant was awarded to support the Early-Intervention (EI) service-provision, providing a programme of needs-led sessions and outreach services for parents and children from birth to age three.

This grant was approved for 4 years, starting January 2024.

Family Haven (£8,500)

(FH-2024-06)

Situated in Gloucester, The Family Haven's mission is to help and support vulnerable families with pre-school children in Gloucestershire, particularly the hard-to-reach and those living in unsuitable accommodation.

The PLCT grant was awarded to support disadvantaged families and to improve educational opportunities for young children and encourage the development of new skills for parents and carers.

This grant was approved for 4 years, starting January 2024.

GL11 Community Hub (£10,000)

(GL11-2024-07)

GL11 is a well-established community project based in Cam and Dursley. GL11 works with people of all ages including Children &Young People, adults and older people. Support is particularly targeted at those who are disadvantaged and vulnerable with complex or multiple needs.

The PLCT grant was awarded to provide universal and targeted parenting support through the children and families services, delivering the HENRY and PEEP Learning Together Program courses to families.

This grant was approved for 4 years, starting January 2024.

HomeStart Cotswolds (£4,700)

(HSCONSORT-2024-08)

HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.

This is a joint funding bid between HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire. The project will support families with children aged 0-3 where there are significant risk factors to the child-parent relationship.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

This grant was approved for 4 years, starting January 2024.

HomeStart Stroud District (£10,000)

(HSSDGROUPS-2024-02)

The PLCT grant was awarded to continue the delivery of the 'Group-Start' programmes, including 'Best Start' postnatal groups and 'Bump-Start' antenatal to families across the district of Stroud, Quedgeley and Gloucester City.

This grant was approved for 4 years, starting January 2024.

HomeStart Stroud District (Stroud and Gloucester) (£9,400)

(HSCONSORT-2024-08)

HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.

This is a joint funding bid between HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire. The project will support families with children aged 0-3 where there are significant risk factors to the child-parent relationship.

This grant was approved for 4 years, starting January 2024.

HomeStart N & W Gloucestershire (£14,100)

(HSCONSORT-2024-08)

HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.

This is a joint funding bid between HomeStart Cotswolds, HomeStart Stroud District and HomeStart N & W Gloucestershire. The project will support families with children aged 0-3 where there are significant risk factors to the child-parent relationship.

This grant was approved for 4 years, starting January 2024.

Monkscroft Pastoral Care Project (£10,348)

(MPCP-2024-10)

Monkscroft Pastoral Care Project's main aim is to improve the lives of children living in the Hester's Way and St Mark's areas of Cheltenham. They specifically work on improving the emotional and social development outcomes of children from prenatal/birth onwards.

The PLCT grant was awarded to provide Family Support for parents from pre-birth to early infancy.

This grant was approved for 4 years, starting January 2024.

Existing Grant Recipients

The Churn Project (£41,808)

(2020-02-CHURN)

The Churn Project works with the people and communities of Cirencester, particularly the wards of Beeches, Watermoor and Chesterton. They provide support and services for local people especially those who are isolated, socially excluded or in hardship, with a focus on older people, unemployed people and young families, finding practical solutions to meet their needs.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The PLCT grant was awarded for the introduction of antenatal education and the provision of on-going support for parents in the Cirencester area, to give their children the best start in life.

This grant was approved for 4 years, starting January 2020.

Cirencester Opportunity Group (£42,500)

(2020-10-COG)

Cirencester Opportunity Group is an independent Early Years Centre, which offers care and education to children aged between 2 and 5 who live in Cirencester and the surrounding villages. Support is also given to parents through outreach work and a range of family sessions, which cater for families with children from birth up to the age of 3.

The PLCT grant supports the Early Intervention (EI) Outreach services. This includes a weekly timetable of sessions for children aged 0-3 and their parents, with a common aim of supporting disadvantaged children to give them the best possible start in life. Also provided are a range of Outreach services to better support parents with young children who are faced with obstacles arising from their social circumstances which impact on their ability to raise their children well and which they cannot overcome without help and support.

This grant was approved for 4 years, starting January 2020.

Family Haven (£39,959)

(2020-03-FH)

Situated in Gloucester, The Family Haven's mission is to help and support vulnerable families with pre-school children in Gloucestershire, particularly the hard-to-reach and those living in unsuitable accommodation.

Funding from the PLCT supports the provision of opportunities for the most vulnerable and isolated children, by providing early intervention and help to improve school readiness. This includes encouragement in social development and promoting independence along with providing the additional educational support some children require.

This grant was approved for 4 years, starting January 2020.

Family Space (£11,384)

(2022-01-FS)

Family Space is based in Hester's Way within West Cheltenham. Their aims are to encourage family relationships, especially between parents and children; develop people's appreciation of themselves and their families, giving a sense of hope; ensure the welfare of the whole family by encouraging them to nurture and develop loving, healthy relationships; provide opportunities for parents and children to enjoy time together and on their own in a safe environment.

PLCT funding supports the delivery of Stay and Play sessions, including weekly sessions of Stay and Play for parents and their preschool children; weekly session of a referred into baby group for parents and their prenatal babies until transition into Stay and Play; on-going support specifically for parents and their preschool children; a monthly Dad's and children's group and a weekly specific interactive activity for Dad's and their 0-3's at the Cheltenham Child Contact Centre to encourage interaction and form positive father/ child relationship. The sessions focus on the Positive Parenting Programme for Parents 'The Early Years'.

This grant was approved for 4 years, starting January 2022.

GL11 Community Hub (£35,398)

(2020-08-GL11)

GL11 is a well-established community project based in Cam and Dursley. GL11 works with people of all ages including Children &Young People, adults and older people. Support is particularly targeted at those who are disadvantaged and vulnerable with complex or multiple needs.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

PLCT funding is supporting the Parenting through Play Programme, which provides universal family support, a playful parenting programme with a focus on the outdoors, delivery of HENRY parenting courses and targeted support for vulnerable families.

This grant was approved for 4 years, starting January 2020.

HomeStart Cotswolds (£20,000)

(2020-17-HSCONSORT-HSC)

HomeStart Cotswolds and HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them. The PLCT grant is being used to fund the '0-3 Early Intervention Project'.

This is a joint funding bid between HomeStart Cotswolds and HomeStart Stroud District. The project will support families with children aged 0-3, across Stroud and Cotswold District Council areas, where there are significant risk factors to the child-parent relationship.

This grant was approved for 4 years, starting January 2020.

HomeStart Stroud District (£40,000)

(2020-17-HSSDGROUPS)

PLCT funds the delivery of the 'Group-Start' programmes, including 'Best Start' post-natal groups and 'Bump-Start' antenatal groups in the outlying areas of the Stroud District including the Vale of Berkeley, Cam and Dursley.

This grant was approved for 4 years, starting January 2020.

Homestart Stroud District (Stroud and Gloucester) (£40,000) (2020-17- HSCONSORT-HSSD)

HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.

The PLCT grant is being used to fund an expansion of the current Homestart Stroud services into a new geographical area of Kingsway and Quedgeley.

This grant was approved for 4 years, starting January 2020.

Homestart N&W Gloucestershire (£60,000)

(2020-17- HSCONSORT-HSNWG)

HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.

The PLCT grant is being used to fund an expansion of the current Homestart services into a new geographical area of Cheltenham, Forest of Dean and Tewkesbury.

This grant was approved for 4 years, starting January 2020.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Monkscroft Pastoral Care Project (£42,454)

(2020-13-MPCP)

Monkscroft Pastoral Care Project's main aim is to improve the lives of children living in the Hester's Way and St Mark's areas of Cheltenham. They specifically work on improving the emotional and social development outcomes of children from prenatal/birth onwards.

The PLCT grant was awarded to provide core support services for vulnerable pre-birth to 3-year olds in the Hester's Way and St. Marks/Rowanfield area of Cheltenham.

This grant was approved for 4 years, starting January 2020.

Stroud Beresford Group (£20,000)

(2022-05-SBG)

Stroud Beresford Group has been offering help, advice and support to families affected by domestic abuse for over 35 years. They offer a confidential service, run by women, for women and their children. The PLCT grant is being used to provide refuge and outreach services to reduce harm caused by the impact of domestic abuse on young children (aged 0-3).

This grant was approved for 4 years, starting January 2022.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity's activities.

Financial review

The value of funds held by Rathbones on the Trust's behalf in their investment portfolio amounted to £2,509,441 at the 31st December 2023 (2022: £2,918,013), made up of market value of investments £2,302,275 (2022: £2,717,183) and time deposits of £207,166 (2022: £200,830). We anticipate that the investment income generated for the year will be £63,487.

Other minor cash amounts are held with Lloyds Bank for expenses relating to philanthropy and general administration. The value of cash held in this account as at 31st December 2023 amounted to £25,051 (2022: £26,486).

The approved budget for philanthropy was £393,503 (2022: £389,047). Actual funds released were £393,503 (2022: £389,047).

The Trust's reserves at 31st December 2023 amounted to £2,623,669 (2022 : £2,942,470).

Reserves policy

At the balance sheet date the charity had retained unrestricted funds totalling £2,623,669 (2022: £2,942,470).

It is the policy of the Trustees to maintain reserves at their current levels so that sufficient investment income may be derived in order to finance the award of grants. The maintenance of such significant reserves represents the Trustees’ aims of long term operations through the continued receipt of reasonable levels of investment income to finance grant awards, whilst maintaining a hedge against possible future decreases in the market value of investments.

Investment powers and policy

Under its Memorandum and Articles of Association, the Charity has the power to invest in any way the trustees think fit for the investment of charitable funds.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Plans for future periods

The key priorities for the Philanthropic element of the Trust's activities over the next 12 months are:

Change in Presentation of Accounts

The presentation of Notes to Financial Statements have been revised to enhance clarity and ensure more effective compliance with prevailing accounting standards. These changes aim to provide a more transparent and comprehensive view of our financial activities and position. Comparative figures for the previous year have been presented in a more structured and clear manner to reflect the new presentation format, ensuring consistency and enabling meaningful comparison across periods.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Trust is a charitable company under the Companies' Acts 1985 and 1989, limited by guarantee and not having a share capital, incorporated on 28th December 2006 and first registered as a charity on 30th October 1991. The Company was established under a Memorandum of Association, which sets out the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of new trustees

Trustees are recruited for the skills and expertise that are identified as necessary by the Trust to fulfil its mission and targeted outcomes as identified in its Strategic Plan. Potential Trustees are given the opportunity to meet the Trust Board and to discuss what their general and specific portfolio responsibilities could be. New Trustees are appointed by resolution of the Trustees. New Trustees are requested to sign a letter of commitment. There is no set maximum number of Trustees, although between five and eight is considered to be appropriate. The statutory minimum number is three.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Organisational structure

Trustees' meetings are scheduled to take place quarterly with special meetings called, if this is deemed necessary, to discuss particular issues. It is standard practice at each of the meetings for Trustees to discuss their own development needs and review their personal contribution to the Trust.

The Trust employs one member of staff, the Trust Manager, who is responsible for the day-to-day administration of the Trust, and the monitoring and evaluation of the Trust's grant-making programme. The Board of Trustees makes the final decision to award grants. The Board is also responsible for confirming annual grant budget availability.

Mr Robin Balbernie is the Chair of Trustees.

Mrs Bridget Osicki is the Vice Chair and also advises on Human Resource Management.

Mr John Holland is the Treasurer and offers support and expertise on the Business Portfolio.

Mr Stephen Hawkins holds the lead portfolio for Business.

Mrs Patricia Perrins, a long-standing Trustee who held the lead portfolio for Philanthropy very sadly died in May 2023. The Trust will miss her expertise, enthusiasm and energy that went into supporting the Trust Manager and monitoring all of the grant funded projects.

The following two new Trustees were appointed in August 2023.

Mrs Philippa Sweet holds the portfolio for Philanthropy and is also responsible for the line management of the Trust Manager.

Mrs Arabella Bruce-Smith holds the portfolio for Philanthropy.

The Trust Manager, Ms Diane Mautterer is responsible for the day-to-day administration of the Trust, supporting the Chairman, Treasurer and other Trustees, communications (internal and external), and core financial functions (e.g. grant payments, payroll, NI/PAYE, etc.). She also administers, monitors and evaluates the projects that are supported by the Trust and liaises with other local agencies, making recommendations and reporting back to the Trustees at Board Meetings.

Trustees’ Induction and Training

The PLCT has a formal induction process. In summary, new Trustees are invited to spend time with the Chairman and other Trustees, during which the aims and objectives of the Trust are outlined and discussed. Meetings are also arranged with individual Trustees, at which their particular roles are explained, for example Philanthropy, Finance and Business, in order to provide an understanding of the Trust's operations and to give an opportunity for questions and clarification.

New Trustees receive a copy of the Governing Documents, previous audited accounts, Minutes of Trust Meetings and of appropriate committee meetings and relevant Charity Commission guidance (CC3) on the roles and responsibilities of Trustees. Trustees are also provided with a copy of the Good Trustee Guide produced by NCVO. Training opportunities are identified for the Trust Board as a whole and for specific individual areas of responsibility, with Trustees supported in accessing said training.

Trustees give their time voluntarily and receive no benefits from the Charity. They are able to claim for out of pocket expenses or agreed expenditure. Any expense reclaimed from the charity is included in the accounts.

Related parties

The charity does not have relationships with related parties and other charities and organisations with which it cooperates in pursuit of its charitable objectives.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Risk management

Where appropriate, systems or procedures have been established to mitigate the risks faced by the Trust.

Financial - Investment strategies are based on advice from Rathbones, which uses a low risk portfolio. Outcomes are regularly reported at Trust Meetings.

Mission delivery - The Trust is not itself a service provider but realises its mission by the identification, financing and monitoring of already established organisations that have the apposite qualifications, staff and processes. Grant applicants undergo a detailed assessment process, including due diligence e.g. governance, accounts, safeguarding procedures, risk management processes, etc. Key risks are identified and considered as part of the grant's assessment process. Grant recipients are monitored on a quarterly basis with regular site visits and ongoing scrutiny of internal documents e.g. a nnual reports and audited accounts.

Operational - Identify risks faced by the PLCT and assigning ratings (likelihood x impact) to those risks. The monitoring of the risk register (i.e. actions, responsibilities, residual risk ratings) is on going.

Health and Safety - Procedures are in place to ensure compliance with the health and safety of staff and visitors to our premises. A mem ber of staff at City Works Resource Centre is the qualified first aid appointed person.

Statement of trustees' responsibilities

The trustees, who are also the directors of Peter Lang Children's Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The trustees' report was approved by the Board of Trustees and signed on its behalf by:

R Balbernie J E Holland Chair Treasurer

11 July 2024

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PETER LANG CHILDREN'S TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PETER LANG CHILDREN'S TRUST

I report to the trustees on my examination of the financial statements of Peter Lang Children's Trust (the charitable company) for the year ended 31 December 2023.

This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Samir Shah FCA, ATII

Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA

Dated: 11 July 2024

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PETER LANG CHILDREN'S TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds
Notes
£
Income from:
Investments
3
81,327
Total income
81,327
Expenditure on:
Raising funds
4
18,366
Charitable activities
5
433,368
Total expenditure
451,734
Net gains/(losses) on investments
10
51,606
Net expenditure for the year/
Net movement in funds
(318,801)
Fund balances at 1 January 2023
2,942,470
Fund balances at 31 December 2023
2,623,669		 Total
2023
£
81,327
81,327
18,366
433,368
451,734
51,606
(318,801)
2,942,470
2,623,669		 Total
2022
£
73,429
73,429
22,256
427,190
449,446
(419,752)
(795,769)
3,738,239
2,942,470

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 16 to 25 form part of these financial statements.

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PETER LANG CHILDREN'S TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2023
£
£
873
2,509,441
2,510,314
93,044
25,051
118,095
(4,740)
113,355
2,623,669
2,623,669
2,623,669		 2022
£
£
720
2,918,013
2,918,733
1,897
26,485
28,382
(4,645)
23,737
2,942,470
2,942,470
2,942,470		 2022
£
£
720
2,918,013
2,918,733
1,897
26,485
28,382
(4,645)
23,737
2,942,470
2,942,470
2,942,470
2,918,733
23,737
2,942,470
2,942,470
2,942,470

The notes on pages 16 to 25 form part of these financial statements.

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PETER LANG CHILDREN'S TRUST

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The trustees acknowledge their responsibilities for:

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 11 July 2024 and were signed on its behalf by:

R Balbernie J E Holland Chair Treasurer

Company registration number 06037671

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Legal status of the Charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The principal accounting policies adopted are set out below.

1.2 Going concern

The charity's accounts show net deficit of £318,801 (2022: £795,769) for the period and free reserves of £2,623,669 (2022: £2,942,470). The Trustees are of the view that these results have secured the immediate future of the charity for the next 12 months and on this basis the charity is a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 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.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance personnel and governance costs which support the Trust’s programmes and activities. These costs have been allocated to expenditure on charitable activities.

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.

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Individual fixed assets costing £500 or more are capitalised at cost.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 10% on cost Fixtures and fittings 25% on reducing balance Computer equipment 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Investments comprise assets held to generate future income and include cash balances. All investments assets are shown on the balance sheet at market value at the balance sheet date. The market value has been determined by the Independent Investment Portfolio Managers. Realised gains and losses arising on the revaluation of investment assets are included in the Statement of Financial Activities.

The Charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.10 Taxation

The charity is exempt from corporation tax on its charitable activities.

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.11 Creditors and Provisions

Creditors and Provisions are recognised when the charitable company has a legal or constructive present obligation as a result of a past event, it is probable that the charitable company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.12 Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

1.13 Cash flow statement

The charitable company qualifies as a small company and advantage has been taken of the exemption provided by SORP (FRS 102), not to prepare a cash flow statement.

1.14 Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

1.15 Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

1.16 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.Prepayments are valued at the amount prepaid net of any trade discounts due.

1.17 Change in Presentation of Accounts

The presentation of Notes to Financial Statements have been revised to enhance clarity and ensure more effective compliance with prevailing accounting standards. These changes aim to provide a more transparent and comprehensive view of our financial activities and position. Comparative figures for the previous year have been presented in a more structured and clear manner to reflect the new presentation format, ensuring consistency and enabling meaningful comparison across periods.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Investments

Unrestricted
funds
£
Dividend
53,460
Interest receivable
27,867
81,327
For the year ended 31 December 2022
73,429
Raising funds
Unrestricted
funds
£
Investment management fees
18,366
18,366
For the year ended 31 December 2022
Fundraising and publicity
22,256
22,256		 Total
2023
£
53,460
27,867
81,327
Total
2023
£
18,366
18,366		 Total
2022
£
66,235
7,194
73,429
73,429
Total
2022
£
22,256
22,256
22,256
22,256

4 Raising funds

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Charitable activities

Charitable
activities
£
Grants to Institutions (see note 6)
399,928
Other direct costs
715
400,643
Share of support costs (see note 7)
27,985
Share of governance costs (see note 7)
4,740
433,368
Analysis by fund
Unrestricted funds
433,368
433,368
For the year ended 31 December 2022
Unrestricted funds
427,190
427,190		 Total
2023
£
399,928
715
400,643
27,985
4,740
433,368
433,368
433,368		 Total
2022
£
396,667
772
397,439
25,239
4,512
427,190
427,190
427,190
427,190
427,190

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Grants Payable

The total grants paid to institutions during the year was as follows:

Grants to Institutions
2023
£
Payee name
HomeStart Stroud District
80,000
HomeStart Cotswolds
20,000
Homestart N&W Gloucestershire
60,000
Cirencester Opportunity Group
42,500
Monkscroft Pastoral Care Project
42,454
The Churn Project
41,808
Family Haven
39,959
GL11 Community Hub
35,398
Stroud Beresford Group
20,000
YMCA CHELTENHAM
11,384
Family Space
-
Mellow Parenting - HSSD
-
393,503
The total grants awarded to individuals during the year was as follows:
Awards to Individuals
Payee name
Peter Lang Awards
3,500
Year 11 Achiever's Awards
2,925
6,425		 2022
£
80,465
20,000
60,000
40,000
39,980
41,808
38,936
34,874
20,000
5,692
5,692
1,600
389,047
5,000
2,620
7,620

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7
Support costs
Support Governance
costs
costs
£
£
Staff costs
19,363
-
Depreciation
291
-
Legal and professional fees
1,200
-
Premises costs
4,228
-
Communication and IT costs
1,785
-
Insurance
434
-
Travelling and subsistence
494
-
Miscellaneous expenses
106
-
Bank charges
84
-
Independent Examiner's Fees
-
4,740
27,985
4,740
Analysed between
Charitable activities
27,985
4,740
27,985
4,740
8
Net movement in funds
Net movement in funds is stated after charging/(crediting)
Operating lease rent
Depreciation of owned tangible fixed assets
Independent examiner's fees
9
Employees
The average monthly number of employees during the year was:		 7
Support costs
Support Governance
costs
costs
£
£
Staff costs
19,363
-
Depreciation
291
-
Legal and professional fees
1,200
-
Premises costs
4,228
-
Communication and IT costs
1,785
-
Insurance
434
-
Travelling and subsistence
494
-
Miscellaneous expenses
106
-
Bank charges
84
-
Independent Examiner's Fees
-
4,740
27,985
4,740
Analysed between
Charitable activities
27,985
4,740
27,985
4,740
8
Net movement in funds
Net movement in funds is stated after charging/(crediting)
Operating lease rent
Depreciation of owned tangible fixed assets
Independent examiner's fees
9
Employees
The average monthly number of employees during the year was:		 Total
2023
£
19,363
291
1,200
4,228
1,785
434
494
106
84
4,740
32,725
32,725
32,725
2023
£
4,072
291
4,740		 Total
2022
£
17,655
240
1,200
4,220
1,335
422
45
38
84
4,512
29,751
29,751
29,751
2022
£
4,072
240
4,512
2023
2022
Number
Number
Direct charitable work
1
1
Total
1
1
1
2023 2022
Number Number
Direct charitable work 1 1
Total 1 1

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
18,561
17,191
-
(302)
802
766
19,363
17,655

Total number of staff employed by the charity during the year was 1 (2022 – 1).

During the year no trustees received any remuneration or reimbursement of expenses (2022 - £nil).

The key management personnel of the charity comprise the Trust Manager. The total employee benefits of the key management personnel of the charity were £19,363 (2022 - £17,655).

There were no employees whose annual remuneration was more than £60,000.

10 Net gains/(losses) on investments

Realised gains/(losses) on sale of investments
Unrealised gains/(losses) on year end valuation		 Total
Total
2023
2022
£
£
80,742
(98,562)
(29,136)
(321,190)
51,606
(419,752)

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11
Tangible fixed assets
Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
12
Fixed asset investments
Cost or valuation
At 1 January 2023
Additions
Realised gain
Unrealised gains/(losses)
Disposals
Net movement in income and capital account
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
Historic cost		 Plant and
equipment
Fixtures and
fittings
£
£
10,717
51,617
-
444
10,717
52,061
10,717
51,062
-
250
10,717
51,312
-
749
-
555
Investments
£
2,717,183
1,139,821
80,742
(29,136)
(1,517,413)
(88,922)
2,302,275
2,302,275
2,717,183		 Computer
equipment
Total
£
£
4,325
66,659
-
444
4,325
67,103
4,160
65,939
41
291
4,201
66,230
124
873
165
720
Cash in
portfolio
Total
£
200,830
2,918,013
6,336
1,146,157
-
80,742
-
(29,136)
-
(1,517,413)
(88,922)
207,166
2,509,441
207,166
2,509,441
200,830
2,918,013
2,188,692

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13
Debtors
Amounts falling due within one year:
Accrued income
Grants paid in advance
Other debtors
Prepayments		 2023
£
3,139
87,544
1,343
1,018
93,044		 2022
£
-
-
879
1,018
1,897

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Accruals		 2023
£
-
4,740
4,740		 2022
£
133
4,512
4,645

15 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
873
Investments
2,509,441
Current assets/(liabilities)
113,355
2,623,669
Operating lease commitments
Within one year
Between two and five years		 Total
2023
£
873
2,509,441
113,355
2,623,669
2023
£
4,598
5,967
10,565		 Total
2022
£
720
2,918,013
23,737
2,942,470
2022
£
4,072
10,565
14,637

16 Operating lease commitments

17 Share capital

The company is limited by guarantee and does not have a share capital divided by shares.

18 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).