REGISTERED CHARITY NUMBER: 1169320 TRUSTEES, REPORT AND AUDITED FINAN ATEMENTS THE YEAR ENDED 31 LAW FAMILY EDUCATIONAL TR Shaw Gibbs (Audi() Limi(ed Chartered Certifi¢d Accountants Statutory Auditor 25 St Thomas Street Winchester Hampshire S023 9HJ
LAW FAMILY EDUCATIONAL TRUST CONTENT HE OTr THK FINANCIAL STATEMENT 20 Page Referenee #nd Admini51rMtive Details Tn•stees' Reporl 2 to 3 S¢a¢ement of Trustees, Responslbllltles Report of the Ind¢ptnden¢ Audlto Statement of Fln4nclal Aetlvllles Statement of Financlal Posltlon St4¢¢ment of CAsh Flowi 10 Not¢s to the St&¢ement of Cish Flows Nolt8 to the Financlil Statements 12 to 16 Det*iled Statement of Flnanclal Actlvltl
LAW FAMILY EDUCA TIONAL TRUST REFERENCE AND ADMINISTRATIVE DETAIiS FOR THE YEA 31 AUCU T 2024 TRUSTEES P Moss P Mould AELaw PRINCIPAL ADDRESS 20 Carlton House Terrace 2nd Floor Lorldon SWIY5AN REGISTERED CHARITY NUMBER 1169320 AUDITORS Shaw Gibbs (Audit) Limiied Chartered Certified Accouni&nts Slalutory Audilor 25 St Thomas Sire¢t Winchesler Hampshire S023 9HJ Page I
LAW FAMILY EDUCATIONAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31ST AU UST The trustees preseni iheir report wilh the financial stalemenls of ihe ¢harity f¢y the year ended 3 1st August 2024. The trustees have adopted the provisions of Accountin8 and Reportin8 by Charities: Sialemenl of Recommended Praeiiee applicable to charities preparing their accounts in accordance with ihe Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effeciive l January 2019). The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required io provide a Irue 2nd faif view. This departure has involved following Accounling and Reporting by Charilies preparing their accounts in accoTdance wilh the rinoncial Reportin8 Slandard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 rather than the Accounting and Rep)rting by Charities,, Statement of Recommended practice effeclive from Isl April 2005 which has sin¢e been withdrawn. OWECTIVES AND AcfiviTIES Objectives and Aims The objcclive of the Trust is to advathee education and training in the United Kingdom by sponsorin8 and funding schools, hi8her educalional enlilies, edu¢ational programmes* projects and facilities and lo advance amateur sports to those in education. Publlc benelli Th¢ Truslees ¢onfinn Ihal they have taken a¢Unt of the Charity Commission's general 8uidance on public benefit. The Law Family Edu¢ational TTU$t provides funding and supp)rt to schools and higher educational entities, educational pro8rammes, projects and facilities. ACHIEVEMENT AND PERFORMANCE ChAritAble aetivities Thc Laurus TNst is Ihe principal beneficiary of the Charity. This Is a Multi A¢ademy Trust headquartered in Che&dle Hulme near Manchester. It en¢ompa55es the 4-18 a8e ran8e in primary, secondary and sixth fomi conlexls across Greater Manchesler. It has an ambitious program of growth.. three brand new free schools opened in September 2018, further Iwo schools in Seplember 2019 and a further primary fre¢ school opened in September 2022. With the addition of this school the Trust has supported 16 schools in the 2023-24 Academic Year. Grants lotallin8 £2.805.330 were made in Ihe year of which £2,618,430 were mad¢ to The Laurus Trust, Multi-Academy Trust that runs academies in Stockport and surroundin8 area. Grants made supported a) capital developments across ihe Trust ond b) support programs ihat enrich and extended pupils, experienee at $¢hool. Th¢s¢ in¢lud¢: Culture, Creaiivity and Rhetoric; - Spoken Languag¢lOra¢y; Sportin8 Excellence. A grant of £63,900 was awarded to the Edu¢altonal Policy Instilute for the research project "Degree Apprenli¢¢ships: Supply & Demand". FINANCIAL REVIEW Finintial position Ai 31 st August 2024 ihe charity had nel a deficit in funds of £2,959,898. A Law (Irusttt) continues to support the charity by makin8 donations from the Law Family Chariiable Foundalion to ensure funds are suffi¢ient to cover all ¢ommittcd and future ¢xpendilure. Prineipal funding sources The charity is wholly funded by ¢he Law Family Charitable Foundation. Pa8e 2
LAW FAMILY EDUCATIONAL TRUST TEES, REPORT R THE YEAR ENDED 31 24 FINANCIAL REVIEW Reserves policy It is the policy of the Trust to maintain the free r¢s¢rves of the Trust a¢ a level to provide sufficient fund5 lo cover management, administralion and support costs. FUTURE PLANS The Charity will continue to support the Laurus Trust by ensurin8 pupils in all ils gchools can benefit from (he existing program5 described above. Trustees will nSider making additional charitable donations to Ihe Laurns Trust as appropriate. These may include the development of a Music Excellence program and scholarships Io sUPPOrt graduates from the Laurus TTust lo access Higher Education opportunilies. STRUCTURE, GOVERNANCE AND MANAGEMENT Governin% document The ¢harity is a charilable incorporal¢d organisation and its powers are set out in ils Constitution. Reeruitment and Appolntment ol new trustees The Trusiees of the charity are listed on the infonnation pag¢. New Trustees may be appointed by the settlor or exisling Trustees. In appointing new Trustees the settlor or Trnstees will lake into account the benefits of appointing a PeOn who is able by virtue of his or h¢r personal or professional qualifications to make a coniribulion lo the pursuit of the objects or management of the Ch&rity. The Constitution provide5 for a minimum of three and maximum of 12 Iruslecs. The Trusl¢¢s meel al least three limes a year io receive reports from its beneficiaries and discuss and implement policy. Decisions are madc by a 5impl¢ majori¢y of votes cast al a me¢tin8. Risk rnanagement The Trustees havc carried out a view of ihe Charity's activities and the ri$k$ io which it is exposed and confirni thal controls are in plaee to mitl8ate those risks. 29th June 2025 Approved by order of the board of trnslees on ... .......................,...,.,.....,...,. and signed on its behalf by: A Law - Twste¢ Pagc 3
LAW FAMILY EDUCATIONAL TRusr STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR EN AU The trustees are responsible for preparing ihe Trustees, Report and the financial staiements in accordance with applicable law and United Kingdom Accountin8 Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charilies in England Y4nd Wales, the Charities Act 2011, Charity (Accounts 2nd Rep)rts) Regulations 2008 and the provisions of the trust deed requires ihe tNstees lo prepare financial slalements for each finan¢ial year which give a true and fair view of th¢ stale of affairs of the charity and of the incoming resources and applicalion of resources, including the income and expenditure, of the charity for that period. In preparing those financial Statements, the trustees are required to select 511itable accovnling policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgements and estimates thal arc reasonable and prudent, slate wheiher applicable accounlin8 slandards have been followed, subject to any mat¥Yi&l departures disclos¢d and explained in the financial slatements; prepare the financial statemenis on the going Concern basis unless it is inappropriate to presume thftt the charity will continue in business. The Irusiees are responsible for keeping proper accountin8 records which disclose with reasonable ac¢ura¢y al any lime Ihe financial position of ihe charity and io enable them to ensure ihal th¢ financial slatements comply wilh ihe Charities Act 2011, the Charity (Accounts and Reports) Re8ulalions 2008 and ihe provisions of the trust deed. They are also r¢sponsibl¢ for saf¢guarding the 8ss¢ts of ihe charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularilies. PaB¢ 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LAW Y EDUCATIONAL TRUST Opinion We hav¢ audiled the flnancial statements of Law Family Educalional Trust (the 'charity') for ihe year ended 3 Isl August 2024 which comprise the Siat¢m¢nt of Financial Activities. the Stalement of Financial Posilion, the St21ement of Cash Flows and notes to the financial statements, in¢luding a summary of significant a¢UntIng policies, The financial reportin8 framework ihat has been applied in their preparation is applicable law and United Kingdom Accoun¢ing Siandards {Unit¢d Kingdom Generally Accepted Accounting Practice). n our opinion th¢ financial slatements.. 8ive a tru¢ and fair view of ihe stale of the charity's affairs as a13 Isl Au8USt 2024 and of ils incoming resources and pplication of resources. for the year Ihen ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Pr&ctice' and have been prepared in a¢cordance with the requirements of the Charities Act 2011, Blsls for op5nlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililie5 under those standards are further described in the Auditors, r¢sponsibilili¢s for the audit of the rinancial st8l¢ments section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of th¢ financial slalements in Ihe UK, including ihe FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilili¢s in a¢¢ordance with these requirements. We believ¢ that the audit evidence we have obtained is sufficient and appropriate io provtde a basis for our opinion. Coneluslon8 relating to going concern In auditing the financial slatem¢nts, we have concluded that the trusttts, use of ihe going concern basis of accounting in Ihe preparation of th¢ financial stalements is appropriate. Bas¢d on Ihe work we have perfomied, w¢ have not identified Any material uncertainlies relating to events or conditions that, individually or ¢olleclively* may cast $18nifinl doubt on the charity's Ability lo conlinue as a 80in8 concern for a period of at least twelve months from when ihe fin4n¢ial slatements are aulhorised for issue. Our respon5ibililies and the responsibilities of the truslees with r¢sp¢¢¢ to going ¢on¢ern are d¢s¢rib¢d in th¢ relevant se¢lions of this report. Other informatlon The trustees are responsible for the other infornialion. The other information comprises ihe inforniation included in the Annual Report, other than the financial siatem¢nts and our Report of the Independenl Auditors Ihereon. Our opinion on the financial slalemenls does not cover ihe other inforniation and, ex¢¢pt to the extent otherwise explicitly slated in our report, we do not express any fornb of assurnnce conclusion thereon. In eonneclion with our audit of the finan¢ial siaiements, our respon5ibilily is to read the other information and, in doing so, wnsid¢r whether the other info(10n is rnaicrially inconsistcnt with thc financial statemcnts or our knowledge obtAined in the audit or oiheTWiSe appears lo be materially misslated. If we identify such material inconsislencies or apparcnl maleriol misstatements, we are required to delerniine whelher Ihis gives rise to a material misstatement in ihe financial slaternenls themselves. If, based on the work we have performed, we conclude thal there is a material missiatemeni of this other infonnalion, we are rwuired io report that facl. We have nolhing to report in this regard. Matters on whieh we ire required to rep)rt by exeeption We have noihing lo report in respeci of ihe followin8 matters wh¢re the Charities {A¢wunts and Reports) Re8ulations 2008 requires us to report to you if. in our opinion: Ihe infomlalion given in Ihc trustees Report is inconsisl¢n¢ in any malerial respect with the financial slal¢m¢nls' or sufficient accountin8 records have noi been kept. or the financial statements are not in a8reement with the accounling records and reiurns: or we have not received all the infornialion and explanations we require for our audit. Page 5
REPORT OF THE INDEPENDE]YT AUDITORS TO THE TRUSTEES OF LAW FA ILY ED Tl LTR Responslbllltles of trustees As explained more fully in ihe Statement of Trustees, Responsibilities, Ihe trustees are r¢sponsibl¢ for th¢ preparalion of Ihe financial slalements which give a tlue and fair view. and for such inlemal control as the trustees detern)ine is necessary lo enable lh¢ pr¢parntion or rinancial stitem¢nl$ ihat are free from rnaterial misslalemenL wheiher due to fraud or error. In preparing lh¢ financial slatements, the truslees are responsible for assessing the ¢harity's ability lo continue as a going concern, disclosin8. as applicable. matters related 10 80in8 concern and usin8 ihe 80in8 concern b&5is of accounting unless the trustees eiihcr intend to liquidate the charity or to cease operations, or have no rcalistic alternative but lo do so. Our responslbllltles for the audlt of the financlal staternents We have been appointed as audiiors under Section 144 of the Charities Act 2011 and report in acwrdance wilh ihe Act and relevant regulations made or having effect thereunder. Our objeclives are lo oblain reasonable assurance about whether the fJnan¢ial statements as a whole are free fTh)m malerial misstatemenl, wh¢lher due to fraud or error, and to issue a Rcport of the Indepcndent Auditor5 that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an oudil conducted in accordance with ISAS (UK) will always deteci a malerial misstatement when it exists. Misstatements can arise from fraud or error and &re con5idcred malcrial if, individually or in the aggre8ate, they could reasonably be expected to influence the economic decisions of users taken on Ihe basis of these financial slatemenis. The exlent to which our procedures are ¢apablc of delecling irre8ul&ritie5, includin8 fraud is detailed below.. Becausc of the inherent limitations of an audit, Ihcre 15 a risk that we will not detect all irr¢gularities, in¢luding thos¢ leading to a malerial missiatemeni in Ihe financial siaiements or non-compliance with re8ulation. This risk in¢reases Ihe more thal compliance wilh a law or regulalion is removed from the events and transactions reflected in the financial stat¢m¢nls. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regardin8 irregularities occurring due to fraud rniher than error. as fraud involves intentional ¢oncealment. forgery, collusion, omission or misrepresenialion. We obtsined an undersianding of thc legal and regulatory framework applicable to the Charity via discussions with Ihe tru5tce5 and our previous knowledge of Ihe charity. 'fhis identified that the mosl significani laws and regulations relale lo ihe form and content of ihe financi&l siaiemenls such as ihe Charitie5 Act 2011, (h¢ Charities SORP (FRS 102) and Financial Reporting Standard 102. The charity complies with theie laws and re8ulations by using appropriately qualified professionals lo prepare the financial Matemenls. As part of our planning pro¢ess we assessed susceptibility of the charity's financial slalemenls to material mis51alemenls, including how fraud mighi occur by making an assessment of Ihe key risks. The key risks identified in respccl of The Law Family Educational This( is revenue rewgnition and eligibiliiy of charitable 8iving. The trustees confirmed no aclual, suspected or alleged cases of fraud. Based on this asscssment we designed our audit procedures to address these key risk areas with an emphasis on testin8 Ihe income and charitable donations made. A further description of our responsibilities for the Audit of ihe financial statements is located on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. Thi5 description fo5 part of our R¢kx)rt of lh¢ Indepcndenl Audttors. Pa8e 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRusfEES LAW FAMILY EDUCATIONAL TRUST Use of our report This report is made solely to the charity's trustees, as a body, in accordance wiih Part 4 of the Chartties (Accounls and Reports) Regulalions 2008. Our audil work has been undertaken so ihat we mighi slate to the charity's Iruslees Ihose matters we are required lo state to them in an audilors, report and for no other purpose. To th¢ fullest extent p¢nTrilled by law. we do not accept or assume responsibility to anyone other than the charity and the charity's Iruslees as a l)ody. for our oudil work, for ihis report, or for the opinions we have formed. Ctwj Shaw Gibbs (Audil) Limiled Chartered Certified Accountants Eligible to act as an auditor in ternis of Section 1212 of the Companies Ad 2006 StatUry Audilor 25 St Thomas Street Winchester Hampshire S023 9HJ Page 7
LAW FAMILY ED ATIONAL TRUST srATEMENT OF FINAN IALA TIVITI FOR THE YEAR ENDED 31ST AUGUST 2024 2024 Unrestrieted fund 2023 Total funds as restated Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3J24,87S 1,758,081 Investment in¢om¢ Total 26 1758 081 EXPENDITURE ON Ch4rit*ble ae¢ivitie5 Educalion and training 6 328 236 NET INCOMEI(EXPENDITURE) SIOJ57 (4.570,155) RECONCILIATION OF FUNDS Tot41 funds brou£ht forwArd As previously reported Prior year adj'uslmenl (646) 09 970,700 129000 As restated (3,470,4SS) 1.099,700 TOTAL FUNDS CARRIED FORWARD 98 The notes fonn part of these financial slalements Page 8
LAW FAMILY EDUCATIONAL TRUST STAT OF FINAN 1ST AUGUST 2024 IALP ON 2024 Unres¢ri¢ted fund 2023 Total funds as restaled Notes CURRENT ASSETS Debiors Cash at bank 12 1.082 35,419 3,254 CREDITORS Amounts falling due within one year 13 (2,995J17) (3.473.709) NET CURRENT ASSETSI(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES (2,959098) (3,470,455) NET ASSETSI{LIABILITIES) FUNDS Unrestricted funds 14 TOTAL FUNDS The financial slalements were approved by the Board of TNslees and authorised for issuc on 29th JurKry 2025 . and were signed on its behalf by: A Law- Trustee The notes fomi part of these financial slalements Page 9
LAW FAMILY EDUCATIONAL TRUST ATEMENT OF CASH F FORT YE REND D 31ST AUGUST 2024 2024 2023 os restated Notes CAsh flows from operating actlvltles Cash generaied fTom operaiions 1373 428) Net cash provided byl(used in) operating activities 1373 428) CAsh flows from invesilng acilvitles Interesi received Nel cash provided by investing 8¢tivilies ChAnge In cash and cAsh equ&vAlenli In the reporting period Cash And eAsh equlvllents 91 the beginning of the reporting per5od 33,247 (1,373,428) 1375 600 Cash •nd tjih equivalents 41 the end of the reportlng perlod The notes fonn part of these financial stalements Page 10
LAW FAMILY EDUCATIONAL TRUST OTES TO THF STATEMENT OF CASH F YEAR ENDED UGUST 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 as restaied Net incomel(expenditure) for the reportlng perlod (as per the SIAtement of Finan¢lal Activities) Adjustments for: Interest received De¢reasel(increase) in debtors (tkcre&seyincrease in creditors 510W7 (4,570,155) (2,001) 1,082 478 92 (1,082) 3 197809 N¢t ¢gih provided byl(used In) operntions 1373 428) ANALYSIS OFCHANGES IN NET FUNDS Al 1,9.23 Cash flow At 31.8.24 Net cash Cash at bank Tolal Ihe notes form part of these financial statements Pa8e 11
LAW FAMILY EDUCATIONAL TRUST THE FINANCIAL STATEMENTS R THE YEAR E STATUTOR Y INFORMATION The Law Family Education81 Trnst is a charity regislered in England and Wales. The Charity's registered number and registered address can be found in the Trustees. Report. ACCOUNTING POLICIES Accountlng conventlons The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with Ihe Charities SORP (FRS 102) 'Accounting and Reporting by Charili¢s: Stalement of Recommended Practice applicable to chwities preparing their accounts in accordance with th¢ Financigl Reporting Standard applicablc in the UK and Republic of Ireland (FRS 102) (cffective l January 2019),, Financial Reporting Siandard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial slalements have been prepared lo give a 'true and fairf view and have departed from the Charities (Accounts and Report5) Regulalions 2008 only to the extent r¢quir¢d to provide a and fail view, This departure has involved following Accounting and Reporting by Charities preparin8 their accounts in accordance with ihe Financial Rcporting Slandard applicable in the UK and Republic of I19nd (FRS102) issued in October 2019 rather than Ihe Accounting and RertIng by Charities.. si8lem¢n¢ of Recommended practice cffcclive from I st April 2005 which has since been wiihdrawn. Ineome All income is recognised in the Statement of Finan¢ial A¢iivilies once the Charity has enlillement to the funds. it is probable that the income will be received and the amount can be measured reliably.The charity is wlK*IIy funded by ih¢ Law Family Charilable Foundation , a charity in which Andrew Law is a iThstee. Expendlture Liabilities are re¢o8nised as expenditure as soon As there is a legal or constructive obligation committing the charity to that expenditure, it is probable Ihal a transfer of economic benefits will be required in settlement and the amount of the obli8ation can be measured reliably. Expenditure is accounted for ¢)n an accruals basis and has b¢¢n classified under headings that a88regale all cost related to the eategory. Where costs e&nnot be direcily attribuled to parti¢ular headings ihey have been allocaled to activilies on a basis consistenl with the use of resources. Granls offered subject io conditions which have noi b¢¢n met at the year end date are noted as a commitment bul not accrued as expenditure. TaxAtlon Th¢ Charity is exempt from lax on its charll8bl¢ a¢livilies. Fund aeeountlng All funds held by ihe charity awe unrestricted general funds which can be used in accordanee with the charitable ObJI1VeS at the discretion of the Truslees. Going concern The trustees consider thai there are no material uncertainties about the Charity'5 abilDty lo continue as a going concern.The accounts have b¢¢n prepared on a goin8 concem basis. on the understandin8 (hat The Law Family Charitable Foundaiion will conlinue to financially supp)rt the charity for the for¢seeable future. The L4w Family Charitable Foundation and The Law Family Educational Trust are IM)th supported by the Trustee, Andrew Law. Andrew Law has wnfirmed that h¢ will continue Ihis support for the foreseeable futur¢. Page 12 continued...
LAW FAMILY EDUCATIONAL TRUST NOTE FINANCIAL STA TEMENTS- continued OR THE YEAR ENDED 31ST AUGUST 2 24 DONATIONSAND LEGACIES 2024 2023 as reslaled Donalions Gift aid 3J24,SOO 375 1,757,000 1758 081 INVESTMENT INCOME 2024 2023 as restated Deposit account interest CHARITABLE AcfiviTIES COSTS Grant fundin8 of activities (see note Direct Costs (see note 6) Support Costs (See nole 8) 7) Totals Education and Irainin8 2 618430 186 900 10989 19 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 as reslaled Dontlions to the Laurus Thjsl Provision of other educalional Krvices for ihc Lauru5 TNst 2J83,630 6.233,211 2 618 430 6268011 GRANTS PAYABLE 2024 2023 as restated Education and training 186 900 The total grants payable to institutions in ihe year was as follows: 31.824 31.8.23 Education Poli¢y Instiluie 149 000 Pa8e 13 continued...
LAW FAMILY EDUCATIONAL TRUST NOTES TO THE FINANCIAL sfATEMENTS - eontlnu THE YEAR ENDED 31sr AUGUST 2024 SUPPORTCOSTS Govern8n¢e sts Mana8¢m¢nt Tolals Edu¢aiion and iraining Support costs, in¢luded in the abov¢, as follows: Management 2024 2023 as reslated Education and trainin8 Total activities Adminislralion Governance costs 2024 2023 as reslaled Educalion Total a¢tivl¢ie$ training Auditors, remuneration TRUSTEES? REMUNERATION AND BENEFITS I'here were no Irustees, remuneralion or oiher benefits for the year ended 31 st Au8USt 2024 Dor for Ihe year ¢nded 31si Augusi 2023. Trusttts, expenses There were no Irusiees, expenses paid for the year ended 31st Au8USt 2024 nor for the year ended 3 1st August 2023. io. srAFF cosrs There were no siaff costs for the year ended 31 Au8USt 2024 nor for the year ended 31 August 2023. Page 14 continued...
LAW FAMILY EDUCATIONAL TRUST O THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST A PIUOR YEAR ADJUSTMENT The prior year adjuslmenl relates 10 the 8rants payable to the Laurus Trust. These are payable lo ihe Charity and were nol accounted for in error in the financial stalements for the year ended 3 1st August 2023. The adjustmenl has resulted in an increase in grants payable and a de¢r¢ase in th¢ total funds of £3,469,809. 12. DEBTORS: AMOUNTS FALLIIYG DUE WITHIN ONE YEAR 2024 2023 as restated Other deblors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 as restaled Grants payable A¢¢rued cxp¢nse5 2,989,917 3,469.809 3 473 709 14. MOVEMENT IN FUNDS Unrestricted funds The unrestri¢t¢d funds represents th¢ funds of th¢ Charily and includes amounts which the Trustees have desi8nated for p&rti¢ular purposes. OTHER FINANCIAL COMMITMENTS Al 3 1st August 2024 1h¢ ¢harity had the following commitments: 31.&24 31.823 Educalion Policy Instilute 63,91JO 180,000 The final payment of each 8rAn¢ is conditional upon ihc complelion and publi(lon of the research project report. Page 15 ntinued...
LAW FAMILY EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS - eontinu RTH YE DED 24 16. RELATED PARTY DISCLOSURES The charity is predominately funded by the Law Family Charilable Foundation, a charity in which Mr A Law (Iruslee) is also a Iruslee. The charity was established to sUp)rt The Laurus Trusl (a Multi Academy Trust) in which the Law Family Educational Trnst became a corporate member in November 2016. Details of grants payable to The LauNs Tfusi #re detailed in note 5.The tal donations received from The Law Family Charitable Foundation in the year was £3,320,000 (2023 - £1,750,000). Page 16
LAW FAMILY ED TIONAL TR DETAILED STAT ENT OF FI FOR TH RENDED31 A CIAL ACTIVITIE 2024 2023 a5 restated INCOME AND ENDOWMENTS Donations and legaeies Donations Gift aid 3J24,500 375 1,757,000 3J24,875 1,758,081 Investment Ineome Deposit a¢¢ounl interest Totil incoming resources 3J26,876 1,758,081 EXPENDITURE ChAritAble getlvllles Donations lo the Laurus TNst Provision of oiher educaiional services for th¢ LauNs Trust Grants lo institutions 2.S83,630 6,233,211 34,800 34,800 2JOS330 6,319,011 Support Colts Manigement Administration 4.089 3,825 Governance ¢oJts Auditors, remuneration Tolal resources expended 16 6 328 236 Net ineomel(expenditure) 510 557 4570 155) This page does not fonn part of the statutory financial stat¢menls Page 17