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← Peter Lang Children's Trust

2024-12-31-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 2024

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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		 Mr R Balbernie
Mrs A Bruce-Smith
Mr S Hawkins
Mr J Holland, Treasurer
Mrs B Osicki
Mrs P Sweet
(Resigned December 2024)
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 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12 - 13
Notes to the financial statements 14 - 24

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".

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.

2024 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 2024

Furthermore:

ACHIEVEMENTS AND PERFORMANCE

Sources and Utilisation of Funding

The approved philanthropic budget for 2024 was £378,125 (the approved budget for 2023 was £393,503). Actual funds released in 2024 were £378,125 (2023 - £393,503). The approved budget for the Ann Perrins award was £5,000, with actual funds of £2,343 released in 2024. The 2024 Awards Event was scheduled to be held on 29th January 2025, with funds of £2,000 due to be released in January 2025 for the 4 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 29th January 2025 to be held at The University of Gloucestershire. Peter Lang Star Awards were to be awarded to 4 young people who had secured a place at university.

EXISTING GRANT RECIPIENTS

The Churn Project (£39,983) (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.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Cirencester Opportunity Project (£40,000) (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 (£34,000) (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.

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 (£40,000) (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.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

HomeStart Cotswolds (£18,800) (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 Stroud District (£40,000) (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) (£37,600) (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 (£56,400) (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.

Monkscroft Pastoral Care Project (£39,958) (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.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Recipients of the Ann Perrins Award for Service Development

This initiative was launched in March 2024, in memory of Trustee, Ann Perrins. This grant of up to £5,000 was awarded to any project currently support by the Trust and must be used to train relevant staff to gain a recognised accreditation that would be used to set up and deliver a new programme. The training must be in an intervention that is evidenced-based and can be evaluated using recognised measures.

The Churn Project (£858) (APAWARD24-CHURN)

This grant was awarded to train a member of staff to become a PEEP LTP facilitator and to also attend the one-day antenatal training course. This would increase the number of staff qualified to deliver the PEEP antenatal programme.

GL11 Community Hub (£1,485) (APAWARD24-GL11)

This grant was awarded to train three members of staff in Mellow Bumps. This would enable antenatal support to families in the form of the Mellow Bump programme.

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 £2,368,253 at the 31st December 2024 (2023 - 2,509,441), made up of market value of investments £2,150,603 (2023 - £2,302,275) and time deposits of £217,650 (2023 - £207,166). We anticipate that the investment income generated for the year will be £52,789.

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 2024 amounted to £1,709 (2023 - £25,051).

The approved budget for philanthropy was £378,125 (2023 - £393,503). Actual funds released were £378,125 (2023 - £393,503).

The Trust’s reserves at 31st December 2024 amounted to £2,368,422 (2023 - £2,623,669)

Reserves policy

At the balance sheet date the charity had retained unrestricted funds totalling £2,368,422 (2023 - £2,623,669).

The charity is spending out leading to a reduction in the reserves. It is the policy of the Trustees to maintain reserves at a level so that sufficient investment income may be derived in order to finance the committed grant awards, whilst maintaining a hedge against possible future decreases in the market value of investments.

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PETER LANG CHILDREN'S TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Plans for future periods

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

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 2024

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 Philippa Sweet holds the portfolio for Philanthropy and is also responsible for the line management of the Trust Manager (resigned in December 2024).

Mrs Arabella Bruce-Smith holds the portfolio for Philanthropy and will take over responsibility for the line management of the Trust Manager in 2025.

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 2024

Risk management

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

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 2024

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

30 July 2025

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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 2024.

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.

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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: 30 July 2025

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PETER LANG CHILDREN'S TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
funds
Notes
£
Income from:
Investments
3
67,396
Total income
67,396
Expenditure on:
Raising funds
4
16,398
Charitable activities
5
425,559
Total expenditure
441,957
Net gains/(losses) on investments
10
119,314
Net expenditure for the year/
Net movement in funds
(255,247)
Fund balances at 1 January 2024
2,623,669
Fund balances at 31 December 2024
2,368,422		 Total
2024
£
67,396
67,396
16,398
425,559
441,957
119,314
(255,247)
2,623,669
2,368,422		 Total
2023
£
81,327
81,327
18,366
433,368
451,734
51,606
(318,801)
2,942,470
2,623,669

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 14 to 24 form part of these financial statements.

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PETER LANG CHILDREN'S TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current (liabilities)/assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2024
£
£
655
2,368,253
2,368,908
6,084
1,709
7,793
(8,279)
(486)
2,368,422
2,368,422
2,368,422		 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		 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
2,510,314
113,355
2,623,669
2,623,669
2,623,669

The notes on pages 14 to 24 form part of these financial statements.

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PETER LANG CHILDREN'S TRUST

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

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 2024.

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 30 July 2025 and were signed on its behalf by:

Signed by:
[FainDallerwic		 Signed by:
FanHolland
R Balbernie
[FainDallerwic
7A5AB126CB1948C...		 J E Holland
Fan Holland
A99BA31934F 1413...
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 2024

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 £255,247 (2023 - £318,801) for the period and free reserves of £2,368,422 (2023 - £2,623,669). 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 or grantors 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.

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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.

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Investments

Unrestricted
funds
£
Dividend
38,195
Interest receivable
29,201
67,396
For the year ended 31 December 2023
81,327
Raising funds
Unrestricted
funds
£
Investment management fees
16,398
16,398
For the year ended 31 December 2023
Fundraising and publicity
18,366
18,366		 Total
2024
£
38,195
29,201
67,396
Total
2024
£
16,398
16,398		 Total
2023
£
53,460
27,867
81,327
81,327
Total
2023
£
18,366
18,366
18,366
18,366

4 Raising funds

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PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5 Charitable activities

Charitable
activities
£
Grants
387,968
Other direct costs
-
387,968
Share of support costs (see note 7)
32,611
Share of governance costs (see note 7)
4,980
425,559
Analysis by fund
Unrestricted funds
425,559
425,559
For the year ended 31 December 2023
Unrestricted funds
433,368
433,368		 Total
2024
£
387,968
-
387,968
32,611
4,980
425,559
425,559
425,559		 Total
2023
£
399,928
715
400,643
27,985
4,740
433,368
433,368
433,368
433,368
433,368

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Grants Payable

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

Grants to Institutions
2024
£
Payee name
HomeStart Stroud District
40,000
Homestart Stroud District (Stroud and Gloucester)
37,600
HomeStart Cotswolds
18,800
Homestart N&W Gloucestershire
56,400
Cirencester Opportunity Group
40,000
Monkscroft Pastoral Care Project
39,958
The Churn Project
39,983
Family Haven
34,000
GL11 Community Hub
40,000
Stroud Beresford Group
20,000
YMCA CHELTENHAM
11,384
Ann Perrins Award for Service Development
Peep Learning Ltd
858
Mellow Parenting - HSSD
1,485
380,468
The total grants awarded to individuals during the year was as follows:
Awards to Individuals
Payee name
Peter Lang Awards
7,500
Year 11 Achiever's Awards
-
7,500		 2023
£
40,000
40,000
20,000
60,000
42,500
42,454
41,808
39,959
35,398
20,000
11,384
-
-
393,503
3,500
2,925
6,425

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7
Support costs
Support Governance
costs
costs
£
£
Staff costs
21,724
-
Depreciation
218
-
Legal and professional fees
1,308
-
Premises costs
4,781
-
Communication and IT costs
1,556
-
Insurance
440
-
Travelling and subsistence
303
-
Miscellaneous expenses
2,191
-
Bank charges
90
-
Independent Examiner's Fees
-
4,980
32,611
4,980
Analysed between
Charitable activities
32,611
4,980
32,611
4,980
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		 Total
2024
£
21,724
218
1,308
4,781
1,556
440
303
2,191
90
4,980
37,591
37,591
37,591
2024
£
4,598
218
4,980		 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

The average monthly number of employees during the year was:

2024 2023
Number Number
Direct charitable work 1 1
Total 1 1

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9
Employees
Employment costs
Wages and salaries
Other pension costs		 (Continued)
2024
2023
£
£
21,048
18,561
676
802
21,724
19,363		 (Continued)
2024
2023
£
£
21,048
18,561
676
802
21,724
19,363
19,363

Total number of staff employed by the charity during the year was 1 (2023 – 1).

During the year no trustees received any remuneration or reimbursement of expenses (2023 - £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 £21,724 (2023 - £19,363).

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
2024
£
28,261
91,053
119,314		 Total
2023
£
80,742
(29,136)
51,606

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

12
Tangible fixed assets
Cost
At 1 January 2024
At 31 December 2024
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
13
Fixed asset investments
Cost or valuation
At 1 January 2024
Additions
Realised gain
Unrealised gains/(losses)
Disposals
Net movement in income and capital account
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
Historic cost
Investment types
Listed Equities
Bonds
Treasury bonds
Treasury Gilts
Treasury Stock
Cash held for Investment		 Plant and
equipment
Fixtures and
fittings
£
£
10,717
52,061
10,717
52,061
10,717
51,312
-
187
10,717
51,499
-
562
-
749
Investments
£
2,302,275
726,994
28,261
91,053
(995,192)
(2,788)
2,150,603
2,150,603
2,302,275		 Computer
equipment
£
4,325
4,325
4,201
31
4,232
93
124
Cash in
portfolio
207,166
10,484
-
-
-
217,650
217,650
207,166		 Total
£
67,103
67,103
66,230
218
66,448
655
873
Total
£
2,509,441
737,478
28,261
91,053
(995,192)
(2,788)
2,368,253
2,368,253
2,509,441
2,024,899
£
1,937,009
24,702
39,909
71,459
37,762
39,762
2,150,603

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

13 Fixed asset investments

(Continued)

All investments are held in the UK and are for long-term capital growth and income generation.

14 Debtors

Amounts falling due within one year:
Accrued income
Grants paid in advance
Other debtors
Prepayments		 2024
£
2,684
2,508
892
-
6,084		 2023
£
3,139
87,544
1,343
1,018
93,044

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Taxation and social security
Other creditors
Accruals		 2024
£
476
2,823
4,980
8,279		 2023
£
-
-
4,740
4,740

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2024
Incoming
resources
Resources
expended
Gains and
losses
At 31 December
2024
£
£
£
£
£
2,623,669
67,396
(441,957)
119,314
2,368,422
2,623,669
67,396
(441,957)
119,314
2,368,422
1 January
2023
Incoming
resources
Resources
expended
Gains and
losses
At 31 December
2023
£
£
£
£
£
2,942,470
81,327
(451,734)
51,606
2,623,669
2,942,470
81,327
(451,734)
51,606
2,623,669		 1 January
2024
Incoming
resources
Resources
expended
Gains and
losses
At 31 December
2024
£
£
£
£
£
2,623,669
67,396
(441,957)
119,314
2,368,422
2,623,669
67,396
(441,957)
119,314
2,368,422
1 January
2023
Incoming
resources
Resources
expended
Gains and
losses
At 31 December
2023
£
£
£
£
£
2,942,470
81,327
(451,734)
51,606
2,623,669
2,942,470
81,327
(451,734)
51,606
2,623,669
2,623,669

Docusign Envelope ID: 32EEE00D-577D-425D-A92E-14FDA8EC1087Docusign Envelope ID: 3D2CF979-33EB-4559-BC63-13C64E3D377A

PETER LANG CHILDREN'S TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

17
Analysis of net assets between funds
Unrestricted
funds
£
Fund balances at 31 December 2024 are
represented by:
Tangible assets
655
Investments
2,368,253
Current assets/(liabilities)
(486)
2,368,422
18
Operating lease commitments
Within one year
Between two and five years		 Total Unrestricted
2024
funds
£
£
655
873
2,368,253
2,509,441
(486)
113,355
2,368,422
2,623,669
2024
£
4,774
1,193
5,967		 Total
2023
£
873
2,509,441
113,355
2,623,669
2023
£
4,598
5,967
10,565

19 Share capital

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

20 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).