The Lawrence Charitable Trust Charity's principal address: Suite 18 Charter House, 11 Courtlands Road, Eastbourne, BN22 8UY Charity Commission Registration Number 1174242
Trustees’ Annual Report For the year ended 5 April 2024
Names of the charity trustees who managed the charity throughout the year:
Trustee name
Margaret Downey
Office
Chair
Crispin Freeman
Andrew Leaper Gemma Mantell lan Turnbull
Structure, governance and management
The Charity was founded by the Will of the late Michael Piper who died on 26 February 2017. The Trust was constituted by deed on 23 June 2017 and registered as a charity by the Charity Commission on 14 August 2017.
There were no changes to the trustees during the year. The trustees review the skills and competencies required for the board of trustees, and where a requirement is identified they initiate a recruitment process. New trustees receive training from the existing trustees. There is no formal training programme.
The charity holds its bank account with Barclays Bank Pic, and has appointed stockbrokers J M Finn & Co. Limited to manage its investment portfolio on the discretionary management basis.
Regular trustee meetings are held, and the trustees met twice formally during the year. The trustees also had frequent informal communication on operational matters throughout the year.
Objectives and activities
The objectives of the charity are to advance educational charitable purposes and such other charitable purposes generally as the trustees may from time to time determine for charities operational in the East Sussex area.
The trustees must apply the income, and at their discretion all or part of the capital endowment, of the charity in furthering its objectives.
During the period the year the trust continued to own two residential properties for letting to generate income. The balance of the endowment fund is largely invested in a portfolio of listed investments managed by the stockbrokers J M Finn & Co. Limited
When planning and carrying out their activities, the charity trustees have complied with the duty in section 4 of the 2011 Charities Act, to have due regard to Public Benefit guidance published by the Charity Commission.
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The Lawrence Charitable Trust
Charity Number 1174242 Trustees' Annual Report (continued)
For the year ended 5 April 2024
Achievements and performance
A website has been maintained to inform interested applicants of the objectives of the charity and to invite applications for grants - www.thelawrencecharitabletrust.org.
Grants totalling £27,500 were paid during the year to the following organisations: Gildredge House School £10,500 Purchase of 30 laptops Rattan School £5,000 For purchase of tablets for a class for music tuition St Catherine's College £12,000 For building an accessible WC in their new sports hall.
Financial review
Unrestricted income exceeded expenditure during the year by £3,932. The surplus was added to the unrestricted fund brought forward of £4,811, leaving the unrestricted fund carried forward at 5 April 2024 £8,743.
The charity's reserve policy has been set at £5,000 being approximately two months' rent from the let properties to cover sudden and unforeseen expenses on them, such as storm damage, and to enable continuity of grant giving in the event of fluctuations of income.
The endowment fund carried forward at 5 April 2024 was £1,305,511, comprising the portfolio at cost £762,147 and the two rental properties at cost £544,623, less cash owed to the unrestricted fund £1,259 for expenses for the endowment fund management paid for by the unrestricted fund.
The trustees consider the charity has sufficient resources to continue its activities for the foreseeable future.
Declaration
The trustees declare that they have approved the trustees' report above.
Signed on behalf of the charity's trustees
Signature M S Downey Full name Margaret Susan Downey Position Chair Date t 6- t 0-[2.] 0 2..4-,
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The Lawrence Charitable Trust
Charity Number 1174242
Receipts and payments account
For Year Ended 5 April 2024
Receipts and payments
| Unrestricted | Unrestricted | Endowment | Totalfunds | Lastyear | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Receipts | |||||
| Rental Income | 25,900 | 0 | 25,900 | 25,866 | |
| Portfolio Income | 16,587 | 0 | 16,587 | 16,639 | |
| Refund ofEndowment | 0 | 0 | 0 | 1,488 | |
| Fund management | |||||
| charges paid by the | |||||
| Unrestricted Fund | |||||
| Grossincome | «ggasy—i(tw”=“‘sésN#CO#O###;;*éA2#B7?~‘<‘(i‘<‘<‘é‘ézai«éDS | ||||
| Asset sales | 0 | 0 | 0 | 0 | |
| Portfolio Investments | 0 | 0 | 0 | 0 | |
| Totalreceipts | — | -4gasy——(wt”~<“‘i~;;;:C A BT:=CC‘O(‘C(‘(S((C‘#CKS#;” |
|||
| Payments | |||||
| Rental property expenses | 1,558 | 0 | 1,558 | 8,693 | |
| Administration charges | 5,376 | 697 | 6,073 | 5,929 | |
| Office rent | 1,400 | 0 | 1,400 | 1,300 | |
| Officecosts | 354 | 0 | 354 | 491 | |
| Governance costs | 2,367 | 0 | 2,367 | 2,035 | |
| Grantspaid | 27,500 | 0 | 27,500 | 38,318 |
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The Lawrence Charitable Trust
Charity Number 117 4242
Receipts and payments account
For Year Ended 5 April 2024 (continued)
| Un restricted | Endowment | Total funds | Last year | |
|---|---|---|---|---|
| funds | funds | |||
| £ | £ | £ | £ | |
| Asset purchases | ||||
| Portfolio investments | 0 | 0 | 0 | 0 |
| Property Investments | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | |
| Total payments | 38,555 | 697 | 39,252 | 56,766 |
| Net receiptsl(payments) | 3,932 | (697) | 3,235 | (12,773) |
| Transfers between funds | 0 | 0 | 0 | 0 |
| Cash funds at 6 Apr 2023 | 4,811 | (562) | 4,249 | 17,022 |
| _Cash funds_5 Apr 2024 | 8,743 | (1,259) | 7,484 | 4,249 |
| ——— | ———— | ——————— | ——— | |
| Statement of assets and liabilities at 5 April 2024 | Statement of assets and liabilities at 5 April 2024 | Un restricted | Endowment | |
| fund | fund | |||
| £ | £ | |||
| Cash Accounts | Bank account | 8,582 | (1,259) | |
| Petty cash | 83 | |||
| Cash debtor (Note 3) | 78 | |||
| Investments | Portfolio at cost (Note 4) | 762,147 | ||
| Properties at cost (Note 5) | 544,623 | |||
| Total assets | 8,743 | 1,305,511 | ||
| Signed on behalf of all the trustees on | lb- l8- | 2...0 2-4 | ||
| MS Downey | C P Freeman |
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The Lawrence Charitable Trust
Charity Number 1174242
Notes to the financial statements
For the year ended 5 April 2024
1. Accounting policies
The accounts have been prepared on a receipts and payments basis.
2. Trustees
- In accordance with the specific authority in the Declaration of Trust dated 23 June 2017 the trustees may charge their usual professional charges for time spent in the administration of the charitable trust. Note 3 discloses the amounts charged.
3. Related Party transactions
During the year the trust entered into the following transactions with related parties:
Legal and professional services were provided to the charity by Margaret Downey, Solicitor, with payments made in the year £2,875 (2023 £4,544). Accountancy services were provided during the year by Crispin Freeman Chartered Accountant with payments made in the year £4,329 (2023 £4,139). No other trustee received any remuneration or expenses during the year.
An inadvertent overpayment was made to Margaret Downey during the year of £78. This is shown as a cash debtor in the Statement of Assets and Liabilities, and was repaid to the charity upon discovery after the year end.
The charity paid office rent £1,400 (2023 £1,300) to John Jackson Charitable Trust whose trustees are Margaret Downey, Crispin Freeman, and Andrew Leaper.
4. Portfolio summary for the year
| Portfolio summary for the year | |
|---|---|
| Cost ofthe portfolio: | |
| Amount invested into portfolio broughtforward and carried | |
| forward | £762,147 |
| Marketvalue ofthe portfolio: | |
| Market value ofstocks brought forward at 6 April 2023 | 771,446 |
| Stockbroker capital cash broughtforward | 4,376 |
| Total portfolio at marketvalue at 6 April 2023 | 775,822 |
| Stock additions at cost | 89,448 |
| 865.270 | |
| Stock disposals at Market value brought forward plus cost since | (119,170) |
| 746,100 | |
| Movement on revaluation to market value at 5 April 2024 | 4,821 |
| Increase in stockbroker capital cash carried forward | 9,445 |
| Portfolio atmarketvalue 5 April 2024 | £760,366 |
| Comprising | |
| Market value of stocks at at 5 April 2024 | 746,545 |
| Stockbroker capital cash at 5 April 2024 | 13,821 |
| £760,366 |
Stockbroker management charges during the year were £6,772 (2023 £7,078).
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The Lawrence Charitable Trust
Charity Number 1174242
Notes to the financial statements (continued) For the year ended 5 April 2024
5. Investment Properties
| Cost of the investment properties: Cost of the investment properties brought forward and carried forward Market value of the investment properties: Market value of the investment properties at 6 April 2023 Market value of the investment properties 6 April 2024 |
£544,623 |
|---|---|
| £720,000 | |
| £695,000 |
The investment properties were valued by Leaper Stanbrook Ltd as at 5 April 2023 and 5 April 2024. Andrew Leaper is a director of Leaper Stanbrook Ltd.
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