t)ocu&gn En ID.. AL17cls2304OlEg$ButKj1fv2B4g2D Chrity r•gislrntion numb•r 1175245 Cony•Thy r•gltsatlon numb•r 10780620 (England and Wal} LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) LEGAL AND ADMINISTRATIVE INFORMATION Chris Maybury Lofd LaKlaw of Roth Sr Damd Cart Dame Louise RiLthson Ja Doy (Appointed 13 January 2022) Charfty numIr 1175245 CompAny n¢mib•r 10780520 6 Slardey Street Greatgr n¢ter M3 5GS Audltor A20tsAudit Sw¥i T11M 1 g's Inch Plac Ronfw R•nfr¢wslir• Unrted lfjngdcD PA48
DO90n Er4¢F¢ ID.. l7c6F1C-23O1E9wc2tKI7A2B4v1 LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) CONTEKrs P•g• Trustses. reF(fft Statsment ofTN8t¢•$' fespon%knrt 12 IndepoThJ*nt auditorf8 report 13-15 Stat•ment of fandal xtiVI•s 16 Balan¢0 8he¢l 17 Stalgmgnl of cath fl(5 18 Notes to the financial $tataments 19-28
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2022 Th• Tru8t¢•s pr•sent Ihwr nY•1 rermxl arxl fuwnaal Statem )r the r éndod 31 JY 2021 The finaN4al sttenwnt$ havo be prnp•rnd kn n¢& with th• •cuMmlirMJ pol$ W cArt in not• 1 to th0 financial statements and eompty with the ckntt8ble Mon14ndum and AdeS of A8sodatbn. the Companlos Ad 20C6 aThJ 'ACCnting RewliThJ by ChBritss'. stateMw of R•c£ffim¢TrJed PTrdic8 4pplicable to thaithes preparing thr accounts In acwrdancè wlth the ReFrfJtrg Standard appllcable in the UK WKI RewblK of IrglwKI (FRS 102>. Obl•ctJvM •rMI •ctlvlll•• Incorporoted on 19th May 2017. the obj'ed of the FoundaU¢)n ts thè advancement of èduta¢)ft, esp8Ci81ty the educallon of deprive(l young peoF48, Yi parti18r by means of grants and other lonns of financlal 86sislan¢e lo In81ilutions wht¢h aro wg•d In th• pmwskjn ol •du¢alKffial pwt of the wivhj. During this ffinandal year the Foundation's actfvities wefo the pro¥i$K)n of fvndlng kn 1hreè maln areas.. Lgidl8w Schools Trust. Laidlaw Undergraduate s¥T$hips •nd lthmèn4n-Busines$ S¢holarnhI. Across tho three programrnes Ihe Foundalh)n invests In edu¢atlon ol the undwthtd and undere30nféd In ordér lo break tho oydo of pov¢rty. feduce ingquakty and develop • 9errtt of olhi¢al1oadorts. LAIDLAW SCHOOLS TRUST ILST) (company number 057350931- AFvoved ty The Department lor Edwion 4$ 8 MU0¢0emY $Fon$or. the mkq8ion of this trust 18 lo work in partMr8hlp wllh ¢hlldf•n. th•lr families and the wlder ¢ommunlty. by providing a sofg and nurturirvJ emlronmenl for each child, irre5peclive of abllty or bac*giound. Its 8im is to •mpow•r chddr•n to bdl•ve In Ihemselves and lo embrace the fvtura as 8Cti, re8pectlul and reBponslble ribz¢n$. Th• Tru$l is based in Ihe North Easl of England. 8erying childr•n gnd f8mili•$ in the wesl of Newca8lle, In Pennywg11 and South Ftykn in Sunderfand, and in Sedgefield in County Durham. The Trust's vlslon is lo transform the IN•$ of childr•n and ¢>)mmunit8 in tha North of England through In8plrnUonal •ducallon'. LAIOLAW SCHOLARS- The Found•tion pgrfn•r8 wilh1•8ding unr4ffsrbes around tho workl to run a L•gderJhip and R8s•af¢h Schdar8 Programme lor thelr mosl outstsnding und8rgraduat8s. The PLwpose 68 to proe fvnding to the Univernilie$ lo recrurt and de¥eb)p stLthnts MTrth Ihg PQtgntl81 to t)ecome Igaders In Ihew d)o$en occupatlons. There are ffi¥e ccfe ements to tho programm•'. a ro8¢arth proJe¢l, 198d•rship training and development, a Ioadtrshipwfvaction expèrie6, #n eth1 leadership mAstgfdass and 8 gk)b81 vlrtual nètrMrk. By working wth an acadernic supeN60r OT a sklle(l and èxpèri•nc•d rasèarch loam {?nd in some cases bolhl, scholars develop tholr abllltl88 In analysls. pToblem sc4vi19 dats mana9emenl. Leadersh trainkng and development coveTs core leadership skils, attnbutes and vahJe$. The leadershlpkn-a¢av)n ImmersNe expern¢ ¥nsur8s (hat Scholar8 know the praCce as wel a5 the theory of lèadorship. It 1$ $0 dosigntsd lo tAte their yndtsrsianding of diverse and developing communths. makir¥J them better global crtFzen8 8nd building the moral musde. A custom masterdass delpmed by the Lonth)n BusTh8s S¢lKd on ethical leadeTsh¥> lurth dèvelops their Int89rity and r8sitsenea. WOMEN'S BUSINESS ECrfJCATIONAL SCHOLARSHIPS - Tre programm&'s aim 1$ lo encourage more women to graduate with an M&4, ramoving one of Ihe ob5tades to women athiewng pay party and battar representation in •xerJJtNe l•adershsp mles. The prograrn Spon women from SOa0)nOMicallY dlsadvantsged backgrounds to &arn their MBAS from London Business School and Oxlord's Sgld Bu$ine85 Schoc4, giving 1htm accass both to an unparalekd bune$S oducatKffl and wovld dass nefvrks. London Bu$ine8s School ha8 c8mpuse$ In LoNlon and Dubai. and a presence in three addthonal intemats)nal C.¢8- New York, Hong KoThJ and Shanghai. rt is consist8nty ranked among the best bjsiness schools globaly and is widety acknovle(Iged as 8 onlre far OLrtstsnding Ms•arch. The School has more than 44,000 alumni working in over 155 countries. Oxlord's SaTd Buslness S(1, emwdgd in the old85t unwersty in the EThJllsh-yaking worfd, 15 a young and innovalive bus¢$5 schod that se¢ks to d10p the nexi generation of busness leaders and entrepreneurs. Oxford SaTd offers 8 broad range of bwness-rdated tsgree programme$ and execulve edu¢ation taught course6. The sch(xil uses its a¢ademi¢ strèiigth$ and global n8trwork lo addres$ long-tem transf0mlatnS suth as dwnate thange and Ihe impKI of t¢chr0Y. The Foundation prèviously provided s¢hol8rship at Columbia Business School also but has not rend tts qfft agr8qnwnL
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 Nw• •¢d¥llkn• •tart•d In th• y In th• yw •r#ling 31 Juty 2022, nw gft •af•w tAw• &•t•d wlh thrw ¢ol•$ al the Lkthr•ity of Cambridge, Georgetown Univwsty the Swi8J Federnlion Instilute of Lausann• IEPFL> to run Undèrgra(knle L68dw8hlp and Rarth SctyJlars prowmes commencty In the academoc yaar 22r23. The glft 8grt•mènl was rentrwèd for arth thrèè yo¥s at Urnr8dy OfTOnt0. Tha awrag8 glft agre•M kn th• Uraduate SdKAws progrwnm• Is E277k 8Mualty forllve• An agwmenl wa8 al80 $tyn•d on 21 S•Fthkn 2021 wrfh Trnty Coll898 lIAn to fund P•tlw•ys for IAlim In Bu83$. ThL8 a prtyr¥mry thlch •lms lo h•lp Ihe rTh)st dlsodv8Wd. exrmIed. Ind dlsempoHw8d wc#nen130) kn Ihotr erwjagement wlih adufakxo to bulld and wrtr8pr•neurfal car•m. Tho Tw8t•08 pald ro98rd lo Wn¢181 ty th• Ch¥y Commltsh)n kn d8ddlng ¥b4181 adfvftt•8 th• Foundatim undwo. L•ldl•w 3¢hoo1• Tnwt IL8n Th• FOdatiOn sponsorn LST. * kYiyMng mutianY tru81 In the North E88t of England that dl8a¢fvantaged commLmtti08. In FY2022 thero 1? 7 aCl•M1&y wthn LST.. al through 6¢hool8, OM Jwondary sthool and four pfflry sclM>ols. Th¢ 8cthool• 110• the nationd av•rng• for ev•ry Ma•r of dl8thantag8d corTwnunlU88.' Fr90 SdbooJ$ Mod8. Pupm Pr8mhJn. Sp8d81 Education81 N•eils, Englroh on Addth'onal Language and molty. The Foundab'M gfft$ addOn01 to th• Tru$l Sn ord•r lo pay for hdf of the cenlral tgam $1¥ and to T$9 fv kn¥el d(Und per pupl lo the Iwol a8 that of 8 LoTrJon boriKyh Sn ord•r lo give ¢hildf•n b•tt•r lif• Chan. Th• of th• fvYogf•nYn• is ¢0 h•lp break Ihg Cydv of pov9rty and g•ner•tlM41 un•ftWoym•nt kn trxth E4•t EngthThJ. The Tru51ee8 have due reg8ffjd to guidanr IBswd by the Chity CoffwniMv)n in d•ddlw ¥that xtl%thi th• chat11a Company sh(k1 uThlertakn. A¢N•v•m•nlB and p•rfornMn By funding the central team, the Foundation ensures that.. . SGhools arg asked tr a $maN8r lop 8lw' of thglr fvnds lo ntral a)sl& LST deMS pay 2.5% of th•ir irhxm• comparo(I to th• natK)nal KIAT nomi crf S+%. . IT and pmp•ty mThg•mwrt CQ8ts fAn b• Iytlol•d r•dudry th• twol¥l• and Intarilblè co811 for schools. . HR for 811 the sthods 18 oul8ourced to ¥ tr¥fd party who wothe8 re¢rtrnent. dk. le9 and r061ru¢tudng Support 1¢ thè gchoots, alknthi ec8 to opt#ni8e thèir Staff and 1g•m Flnance and admlnl8tratknn18 manag•d centraltry. en8urfNJ that Mage thr bat$ efik•, maintain apprcsjriale ffinanu reser. and avoNJ the financial stresyes tlweats that many $LtrJob fKe. . Estste5 planning is prudenty financed and quality contrThled. . Best practKe teaching and methodolcgies ¥ffjthJ d•1 rINM8 ar• d8*d for and •mb8dd•d al evory school. . EdToth and dlgltal lgambng Is IY 8n8tthl thmughout Ihe Aradonth. that LST wpll8 ax•¥s•d and •ngag•d with R¢mot• L•omir¥J.
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORD ICONTINUED) FOR THE YEAR ENDED 31 JULY2022 attendanc8. behQUr. wfarg. h8th w0lbgw.' (Igilal 81rnt•. ipxl •dallon ntièds; irrtemational ngw s1 R8adlne8s Induded: A programme wilh 8 feeder nurnery S¢4 to wjo free day for tWYOar okjs. The program moasur8s prograss in sevon core areas.. P•rnonal. sodal aThl omct)nol 2. Phy¢al doxlerity 3. Communk•ticffi •nd u•g• skils 4. Llt8racy 5. Malh?mats'¢s 6. Understanding oftr Tworfd 7. Expre6Bl¥e art ind c4)th1rf1•8 Sm•l8r Cl•s• Slz•8 thd.. . Addthnal 1gach8rs In kay r8POrtwvJ years . Addthn•l t•ach8rs targ•lkng sp8dW weak L¥ H&her IMI To8thing A8$1slarf$ lo WPF4MI int•Mntion gro . Toach Flrst candldales lo reduc• da8$ sk•$ 'gr¢)Af wr Mi, t••N Attendèr. BehaoUr, KWlar• Heath and Ihwbelng Pro$th In(aJod: Building and dev•loping weltsr• sw wilhin schools . lIar0 famlty WFQrt worker Counsdlng and emotional support . Pgr8onaM8ed cwem ad¥ice for slud . Altemolive prw51 ad¢knd Dlqlld Slr•tegy Indu.. . New Chrorn¢book$ •0 Ihjt all thilthfjn w acixss rvAntsto Iwn . su0P to an A.1. baled EdTeth plalfrym. C•nlixy T•th Intemational N8wArrivals YKhJd•d". . spe0d1 16achirvJ 8nd int•MJnYon$ in ordw to lfforoY4 w(¥bulwy fof Int•gratlon malnstream Ioachlng . Home language leachiNJ k enwre pmgre$8 aThl lewrdThJ In ciY• The 8ddltKJn81 leacharn suppwb'ng kny r•poiting h•W boo•1 hlerary. and 8odal 19 w6th1n the academi. In Key Stay• 2 SAT$. the primwi•s. Soulh Hylton Thomag VlIng. ¢ypWfO national averages In reading. wrtllng and malh8. At Westgalg Hlll, ather primvy acadomy, addtsonal bjlorn and merrtors for identrfied thli dr helped kYproa 0ComeS for those m05t in need. Thfr 3dNl IeNl an Olsted judgement of Outstsnding. Thank8 In large pwl to Laidl•w fundkng the nd from a plou$ judgem•rrt of Spo1 Moasur06 to Outstanding S yews. The 'althrough" 6dCl. Academy 360 aC10d a In Sts Olsted knsFdon. Th ig thg ffir81 Ilme In thg hlstory oflhe communty that a sdth has ed su¢h a strMg judgement. Sedg•fi8kl Commurmty Collo9•. th• Trust'$ secondary sth)ol. retained Mg of Outstsnding. Under 2(fA of xookn ludged Outstandlng retaingd their ralkng., the ¥dI110n81 by the Foundation pla1 8 slgnifiwit part #i •n$uring the SlOr5 continued The Regional S¢hoob COMMIOn ha5 c4>mmended the F(wd4thon its SPLVClshlp of the kndemy Tru81 {MAD and nrw desLves Laidéw sd1$ TN8t as one oltr* I¥•2 MAT¥ in Ihe North Ea8t. Delaled reports arg availaLle per Bd.
Errtky ID.. AD7C8F1&23oHD1E-89c2[X)IN2Blwl LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 L•idlaw S¢holarn- Und•rgrndu•t• L•ad•r4hip •nd R•Mar¢h Progr•mm• The FoundatK)n provides scholarnhips for up to 26 sbjdenls at eath of the Foundalion's partn8r rirsit1és. The8e stholarships afe ained al developThw a new geneTation of dTSe leaders wh) embrace dat+ba$ed decision maknng, beli8v8 in the moral imperalr¥e of ethical leadership and are adN8 global otizgns. It Is c10ar, looking at todays politicd and sInesS leadus, that there is an urgenl need to deveknp leaders with the sklls and wlll to add$5 tho worfrfs mosl intra¢tobk problems. This progr8mmo Is designgd lo do that. The Scholarships continue to grow Sn popularity arwj irryd. Th• Inaugural cthorts at partn•r hlgher Instilutlons, B8m8rd College. G•orgeliywn University and LondM School E¢onomK wew al slr¢ywJ. The latter in particular had an excellent Start wlth 7% 01 Its sludont bth 4ppfying forth? coveted 25 pLgce8 on offer. Prc¥ramme grants to tho UnfversWe8 cthffjr thecl payTronts to tho students as wel as the costs of adrniniBtérfng the scholarship progr¥mm• •l•ments. In frnnci y•¥ 2022. on averny 56% of tK IrKI wa8 on 51ipgnd$ for thè students thtm8éfvè8. Average spend 10 • Sbpend S614 T¢4¥11•xl sab (tJSIs 15
0ow&gn EnbThJpe ID.. AD7C6F1c-23OHD1E4992C1A284S2D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORD (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 LeadErthip training using the a¢"on leadership n1¢1 lo Ver dY1. lewn ond Situational leadership to al schoth to de¥¢k)p lh¢ altrMos.' Selkknuwledge and awareness Creallng and crtlcal thIrrj . Colaboration and tèam wkkng Swal and VraI Intelligen and 8warn)088 Indu$ion and div•rsty •mpNernient ReInce and determThbon lo . R186arc and project management . Globgl connection$, Intdigenc• knspkation thwh its blrtual communKy'. tha Lamlaw holars Netrmork . Lèadershlp4d1OTh •xpwt•n(s ) Kir SrtK4arn In twr 8e¢ond 8Me1 of thè programme {with tho exc•plion ol London Sthool of EcorK)mK Who SdKlaTS do their LUA in Ihglr first summer). Stholgrs Cld (oose behveen.. Infield implomèntaOon ol Ihelr year on• research Ichowi by 48 whol•r8) 2. DgsigrNng a bespoke LL4 proJ8Ct devehjpad on th[ M or through a pner wg8nrLation lthosen by 127 sthdars} 3. Parlicipaling in a Foundalon 8PMW8d LIA opportunlty {¢1#)8en by 131 x)olw8}. These piogram)es arfr egned to: . Prowd• an lrnmeTsi¥e 6 week o¥er8ea8 eyrience for ¥bJder In a new and thalenging •nMronmenl {woIng txrtsth of wmfort 2¢¢, *8ming aboLrt cultures and COMM1118•1 Working with ¢ommuniti•s in naad . Chvnng a wojed wilh a dear ofyerarm and set gods whith tllthv Ih•m lo dstrate 8nd dovelop th8k leadershlp capaillthey Iperyonal, team and 5ttuatbonal) . Doing somethlng that makes the wtyhj a t•tter plm.
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORn ICONTINUED) FOR THE YEAR ENDED 31 JULY2022 Prol¢¢t planerts around the gkts Vlith the 1dkvr#j pathr org1$tIOnS.' anllation ink Pac4fic, Fiji ommunty and YrAth Volunts ecl Ink PacifiG. Fi ink P8i¥fic, Fi tyronm•nt Susts11itY ink Paufic ONLINE HK al PrWt8 M¥keSense, Mexlco Umatg ro Change akeSens6 ONLINE HK Umale ch90 olumbla GLIA, han8 gr Sanrtolh)n Wn9 the SDG olumt4a GLIA. mbio tr S•nit&lw)n 8UPFQt'ng th• S olumN8 GLIA. en er Sgnhalk)n the SDG SmNh Boston rnpro¥ing to thn etsyo asiisl Profvca. anda age Health Trn TrainirrfJ asllsl Prothe ando n8emts.on Eduth Peer Le•Jers aslisl Prolèd nda vdopmenl of Prqed FaM as an cotOLrri$I Site ortolse Medlo. ondon ommunty Netsvc¥*8 engagem•nl ndèx nsbon Ethlcs Masterd• Scholars parridpated In a ¢xwlom d8ggned gthi(s cuThi¢xlum cnated and run by London Busirwss School. Two onffine ethKs maslèrdass•s tLrtor8d by the leading acadern Professor Dani81 Effron w•re followed by Inryperson debriefing sessions. The ¢urriwlum is designed lo help Scholars build Ihoir moral resilience prepare them to l¢ad ethi•.
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 Lldtsw Scholarn, Wom•n In Bwln• Th6 mn,8 MBA Programm is design lo he¥ propel more wornen inio kadership posilKJns and tackle one of the barriers to women brèakn"Nd thfough the gla$$ th'n9. It sponsors outslandir4J women who woukl not OtheThSe b8 able to afford an MBA from 8 fitst4lass school to attend London Businass Sthool (LBS) and Oxford's SaTd Busine65 Schod ISBSI. Both London Busbness Sthoofs arHI Sayrfs ffirst Lhort$ of S&I31s adUated in summer of 2022. Th S¢hol8rs have exceled at their academic 5tudie5 as wel as beng athe members ol their o)mmunty. L8ldLqw Scholars lead numwous LBS dubs wrfh Scholars as the tsPresident of the FLII (First Gèneration, L(M or Intemiedialè Income)., the CPreSident of Black in Busrness Club Bnd the Co-PreshJenl ol Women In Bu886 Club. At SBS S¢hc48r8 won th• Oxtsd Enlrepreneurship Innovation Com[n and thè IESI Bu8lness School Impact Investin9 ComptitKn. CuThenl ar alumnl Women In Buslness Laidlaw Sthdars now surpass 45 nation•litl #nd 8 broad rang8 of professional barOund$ ¥rKI imp8¢1 0mbih. O¥er 65% of LBS L8kll8w Stholars are the IIT81 gorwalkn) in their family lo hav• attènded un6versrty. Post graduation. Lahalaw Sdlolws 8r¢ fwnding tr•ir own bunesS•S, sorJJlng D•ctor. VP and C-&Jrto posrtions and joinirKJ loading fm8 8uth a8 EY, McKrfw. BCG. Mityosoft and Bb)ombwg. SOS Chlldrnn VIIW• Follcming iho OLrtbreak of war In Ukr8ino crf 24th Ftrbrry. the FQurdatk deaded to mak• an extrnordinory donalbn. OLrtsid¢ of its 0) progr4wffling. lo supwt Ukr4lnkgn chldren Impacted by the war. Tho gwt was lo ensur• tholr conllnugd gducation. After a carefijl searth for NGOS alre•dy M th• ground in th• region wlh a proven track r•¢ord in wovmling effeCtr care and educ4tk)n lo ¢hlbJren and young pewè In n8•d, SOS Childrèn's Vlllages wa$ 8el8¢18d lo rgulve 0 £2SOk grant. The grfi frcrfn the Fwidali¢)n •nablod'. Rèhjcatlon and accommod10 in new hom•s In Bu88 Immediate, short-lem het• lor families". beficiar79s re¢eNed b8$K focJ support. dothing. gnd porsonfjl hygiene ftgms such 85 Soap, monthty hygiene pads, hand sanitlz•rs. masks etc. P$y(hological support.. group counselliryJ seSon$ wer• hdd. #nd wid1al$ ra1d psy¢hothorapy, wlth focus on 0rn1Th3 war trauma. AJI taT9eted thihjren parerts look pwt kn tho gro ctrjnselllng 868skns. . Hearth.. Al thldién wwe modalY checkod and ¥isit•d a d6nti8t Ilw ath¥ed kn Bulgaria and som thlhjren received medl¢81 tre8lm8nl. Education.. children wer¥ enroll•d in school or kindargarten. They re11 slalionary productB. laptQP8, and lablels according lo Ihew needB, •3 well as a¢¢ss to Intemet. Recreational actNrtie6.' thildren had lo Idsure ar*Mtr8s suth 95 SF¥Jts, music, painlirrfj, Ihey partlgp8tod in exr$I3 lo the countyside #r¥J In c4lturnl adr4Thti88 toyth8r with the local
LAIDLAW FOUNDATION (FORMERLYTHE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Flnan¢l•l r•vl•w The Trustees take serfousty Iheir rosponsibMI•8 to Thplèm•nt 4)PToprf•t• l]nan1 ¢ontrd8 to en$urg the Foundation is managed lo a high 6tandwd. Dvring this financi81 y••r •ndad 31 2022, total •xp¢ndituT• of £7,784.328 {2tr21- £16.278,853> wa¥ coverod by lotol Charitab income of £8.085.230 12021 £10.249,163). The gr8rrts payat4e commrtted lo by the Foundation al the year end of £6.774,68012021- £8.158,5ts)), sh¢Avn Y*ilhMI 9r•il ¢rndiloTS, wll be fundgd by tho Foundats'on's sole sponsor. Lord Lai01aw of Rcthlemay, aj they fal d. Th• tharty8 Income18 dofw from tts 3019 #ponr. Lryd Laidl•w of Rothiemay. Totsl cha181• expendttwe the flnan1 pwlod, aUnIg to £8.483.646 noto 4, Grants Pay#ble) waB Bs follow8.. . Laidlow ScholorB Rea[Ch & D8¥•lrwth Pwramrne. £3.807.865 I21- £7.640.4(Y2) - Tho Laldlgw S¢hool8 Tm81- £1,922,084 IrI1- £3.144,8181 - fjn in Buness- £375205 (2021- £2242,938} - 8ulldkngs- £328.69212021- £2.418.7441 - Oth•r- £250,Cth12021- £250.C
En%thpelD: A07ceF1C-fJ0¥4D1E-89gW2C(11h2B492D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 Flnantl•l v•vl•w (¢ontlnu•d) ere unctsnditlona grants are offer¥d, the dwrity r80)grwses the total gft expense, fv the duration of the gift Teemenl. at the Foint a grarrt is committsd to {se¢ note 1.51 and a c¥edbtor for the grant payable 15 rgnISed within tho finandal 5taloments. As paY1rnts are made to ben8fKMMs thmughout the duration of th8 gift •Jr8em8nt this is Tdeased from the grant ¢>edrtor rewnisod. The tst40 bdow shows the op&ning gr8nt8 payabl$, th& ngw Gommhmgnl$ In the year wh have l)een ranIs in tho Stst¢m•nl of Firndl AclivSos and tht wft YM•nIS m1• in the year. knthE atsl Jdy LO1 s18[5 Resoarth & 6A1285cfi 3KA)7.665 3,65L¥ao 1?21 1.922 375205 L714.760 32&692 328,692 250Am (211) 1585( 6MaM6 7A67A66 6,T14MI Th•yt flgur08 have b•en furth•r belv 4gr••m•nts 80w•d thring th• y•ar rnl trxiitirvj gift agreemnts.. 5,984.235 The Laldlaw SdK>o15 Tnt Women In 8u51 Bultdi 2J30JXK) Labylaw Scholars Researth & 3J)76.7 575,170 195L740 3XB1495 Thè Laldlaw Schools Trust WotYM kn Buslne55 34,760 Bulld 328m2 Total 7JA17SJ6 859J30 3MIL740 3.371910 The Tw$lfjfj$ Lyjntinualy reeW thè f•SWWJ lev816 01 the FOd4110n a1 8n$ure th8t Irwme mgtches onqolng commitments. The FcHJndats'on holds mlma1 reserves a¥ •1 its furbying is deriv•d fmm its sdt or, Lord Laidlaw of Rothiemay, and this bs proled as th6 FIndaon'3 prtragreed c¥>mmitmenls arise. The FourHlation mgy not Synd mor• than 30% of its caJmle aysely during its eStenCe on grants to build edltca1lal andlor medical buildng$. In the ovent that thg Foundation mak88 8 grant (or equvalènl} or promdes financiai assistsnce lor equN¥lenl) that lund$ MO than 33% of the purthase {or equrrfaknt) or 33% (rf the ¢)JnstruGtion of a building that buiklir& must indude'L8iW in its name.
EnlOpe ID.. ND7CeF1&2&J4D1E?32c¥)1A2B492D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 At 31 July 2022 the Foundatif had negati¥8 re8er4w of £4,680.746 12021 £5,087,335) due lo future commitm8nls made prior to lh¢ yfjar and. Th8s8 comnytments bè met by donations rècéNed from t Foundation's sc46 8ponsoi. Lofd of Rthway. Th• Trustws haila assesstd Ihè malor rl8k8 to whkh th• Climpany is exposed. and arft $•tisW Ih•l 8y81em8 are In to fflitigate expo8ur8 to th8 m8iN rks. Futur• plM tt Ihe Intent of the Trusltts to sel up a $8 F¢wndalM in 2023. The trad8 and assets of LaKIIow Foundation wlll be tranofenpd lo th¢ n•w Foundotiffi in 2023 al ll time thls tharty wll b8 wound up and 8tru¢k off. Struclur•. g¢)v•m•n¢• •nd m•n•g•Thbt Th• FdatIon 18 a cornpy I'mit•d by guar4ntee wrflwut shar• c•prf•l and was ifKryrat•d on 19 May 2017. Thé Foundauon 18 gov•med by artkJe$ of associab'on on IrKowatK)n and amend•d ty srrial rasolutions rtyslered at Companw trtrJuse on 10 1)Gtober 2017, 16 Odobtrr 2017, 20 Juno 2018 #nd 5 JLt 2019. Tho Tru$l•e$, who are al80 the dir8Cttxs lor tho pu)80 OlcomnY IMT. •nd ¥&¥) w4•d d(trfng th• y••r and up to the dale of snalO of the financao18tatem•nts wert.. Chris Maybury Lord Laidlaw of Rothiemay Slèffèn DKl Slr Dawld C8rt?r Dam• Loui8e Rkh•rdion L¢nda Doyle (R8ned 13 Janu 2022) {Appokrted 13 J•rwJary 2022) Tru$l¢tss of the charlty art nomlnated by Lord L•dl8w of Rothlemay. the mèln $pon80T of Ihe chArfly. Th• 8ub8Crtbern lo the M•morandum (being tho first Membernl arg a180 the fir¥1 Trusteos. Subsgqugnt Tw$leg8 Org appowrt8d by nolk8 by the Founder to the FoundalK)n thilst h• is alrv• and th•rnaftar by M•mbern by ordinary rgsolulion. A Tru8tee's term ol offKè autom81 o)m•s lo gn end on the tenth gnnfversary of hi8 inrlial appolnlmgnl. Thé tralnlng and In¢¢1Kln yo¥ided for ngw TrusleeB 7MII thpend on thèir $tIng exwlen. 810 nece88ary, induction wil prowde traiiiNJ on diwlty, l and lknan¢xal mattu5. Duiing the year, th8 Foundation made a ch8ritsW to th8 Lamllknv Sthools Tntst. of %thich Lord Laidlaw of Rothiemay 15 a rnember. totaling £1.922.084 (2021- £3,144.818). The person$ r•spon*t4e for t day lo day runniNJ ofthe thartty ar• Susanna Kemp. Matt WaLuh. GTah•m Robertson. Auditor In accordan wilh the Company's artKJes. a resolknon Nopn9 bWAzetsAudlt S•pl5 b• reappolnted 08 auditor olthe Lx)mp8ny wll be put at a Genwal MeetwvJ. Dlxlosurt of Infomi•llon to audltor Eath of the Truste•s has confirn that there is no infonythn ofwtrath they a aware whlth Is rethnt lo the audit. but of vthlch the audllor is unawa. They have further Confir that they t&ken appropriate stops to idontify suth rdevant iifom)atTh and to establish that the alIor is 84We of suth irfrym8b"on. -10-
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (coKfiNUED) FOR THE YEAR ENDED 31 JULY 2022 Th• TrSleeS. raport was appro ty the B¢wd olTrnotets. L*ldl•w ol Rothlwn•y T181 4/612023 11
DooJSW ID.. K•7CAF1C-23014D1E•gW2CQ1AZB4
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW
FOUNDATION)
STATEMENT OF TRUSTEES, RESPONSI8ILrriES
FOR THE YEAR ENDED 31 JULY2022
The Tru$tse$. who aro also the directc¥s of Laidlaw Fc4Jndation (fornth The Imie Laidknv Foundation) for tho
purpos8 of comparw law. are respJnst4e preparing the Tw51ees' Report arKI the financAal statèmènts in
ac¢ordanc4 with aPFlicab l•¥ and UnAed ldorn Accounting Stsndards IUnit•d lQngdom GerbernI Accpted
A¢Unn9 Praclk•l.
Company Law réqulr•s thè Tru8tse8 to kKepwè ncIal statornnt8 for ch financlal y••r which Ovè 8 In and
fair wew of the 81ate of affair8 of tharrtable company and ot th• irtorring r•scJr¢a8 and aFfAiration of
re8ource$. Indudlng the Income expendrture, olthe charitable corTwny for that year.
In proparlng these finanLI81 stglements. th8 Tru•teas required lo:
. telect surta• accounlkng pdb•s •nd ap th•m c
DJc4JSgn Erm?kn1o.. AD7FI&23o4DlE491A2Bl LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) Oplnlon We ha al11d thg )Inanaal stalemenis ol L•rfMaw Fcdat {lonn8rfy The lrnfjne Laid FOd911¢nI Ith• 'charitatrAe ¢ompanYI for the year ended 31 July 2022 whic ¢fJmprise the Btal8m8nt of financial a¢tivlUeg, the balanc8 sh8et, the Statement of cash IIM and ihe notes to the financ4al statements, induding significant accounting pofioes. Thg financial r8wb.ng framework that has bgen in their preparalhjn Is appllGable law 8nd United Kbngdom Ac(unting Standards. induding Fin8nd81 Repn9 StaThJord 102 Thg Financial Rgportmw St8ndard 8Cable in the UK and Republlc ollr•land (United lQngdom G•n•rak¥ Accépted Accounting Practical. In our OF4nkin. Ihtr finandal stslèmant8'. gi a tru8 and lalr eW of th8 stat• of tr• thaiitablg corrvns 8ff8lr8 as at 31 JU 2022 8nd of kn Inc¢mlng rosour¢o8 and application of resources, for th• year th8n ended: havo boon prowly wepar•d in 0¢fce with Unit8d Klngdcrtn Gemraly Ac<•pt•d Aw•Lmlir4J Pr&GI,. and h•vo beon prèpar1 In a¢40rdan ith the qreMInts of th• Companlg¥ Act 2008. 8••1• for oplnlon We oonducled our audll In accordanco vAlh Int8m8tlonal Standards on Audllng (UK) (ISAS (UK)) and oppllcabl8 law. Our responsibl1it undor those stsnd•rd$ are further described in the A(4thtofs f9spo9IIbOs for the audit of the finan¢i8lsl8lements 8¢dn of our rwt. ore Ind8pendenl of Ihe ch•rrtabl• C¥)mpany In 0cWd¥n wlth the •lhi¢al ruIreMentS Ihat are relovanl to ¢yJr audit of the ffinancial statements in the UK. induding th• FRC'S Ethi1 Standard. and wé have fuffill8d our othèr èthlcal respon$ibihtr'es in aco)rdance with these requirements. We b8110 that th¢ audft eence we have cthined is suffic4.1 aTrJ approwlote lo prowde a basi5 for our opiniorL Emphasls of m•tt•r- fln4n¢l•l stst•m•nl• pr•parnd on • bA•l oth•r th•n golng ¢I¢•M We draw attention lo th• going eoncem aco)unting polky Indud•d within note 1.2 of the ffinandal 8tAimnts. whkh explains that thè Trustees, inl0ntK 1$ to wind up the Foundation th 2023 and thereforo th& Trustees do not consKler to be appropri¥te lo adopt thg go4ng CAJncem baw5 of accountThJ in praparing th8 flnandal 8tstem8ntB. Aceordingty, the fin8ndal 8t¥temants have toen prepared on a ba81s than going enCern as d8suibad in note 1.2. Our oplnion 18 not mOdffi In fe8F•Gt ofthis mott•r. Oth•r Informallon Tho other information comwI Iho 1nloThna1 In(Jded th• onrwl rewt other th) th• flnand418latém•rs and our audAorfs report theffjon. The Twstees are reSP[tI& for the other infomialion contained within tho annual report. our opinKJn on the fina1 sts18merrts does not cy)ver tho otlw Infomiatlon ond, ex¢¢pl lo the oxtwrt othervlsg gxplicrty stated in our report. W8 do not axpress any form of a$suraneo condusion thereon. Our re$pon%bilty is to road the otheT inf(Km8tsn and, in dory so, consider whether the other inforniatlon Is materlalty InnsIstenI wlth the financAal sl8tements or our knowledgfj obtained in Ihe g)urse of the audit. or olheMisg 8ppè8rs lo be molwially mlsstat8d. 11 we idenlrfy suth m¥terial inconsislenc4es or apparent material mis$tstemenl¥. we are requlred lo detemine whether this gives rtse lo a m8lwlal misststwnenl in tha fylancial statements themselves. If. b#6ed on th• work wg hov9 pgrformed, conrJde thal thor9 Is a rnaterial m1s5tat0nnI of tho other infmaliM, we are required to r•port that fact Wg have nothing to report wi this rgwd. Oplnlon on oth•r mtt•rn pm¢rfb•d by th• Compan1•• Act 2006 In our oplnkn, based on the work undertaken n Ihe cowsè of our audit". the wrformgtion given in the TN8tees' report for the financaal year for vA)ith tho finalKl 8tatoments are preparèd. whith indude$ th• directors. report prepared for the purwses of (•mpany Lw, 1$ r$161ent with the finanryal ststem•nts' and the dIrect, report ir¥AudedwrthM) thtr Trus¢8os' rwt has been prered In (lar* wth aPFIIc8bkn I•y81 reqUIrnents. 13-
D)(JJg4gn En1¢¢ ID.. AD7¢1&2304DIE4g9&c2DQlA2B4g2D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) Matl•r• on whlch w• •r• r•qulr•d to r•port by •x¢•pO¢)n In the light of the kntrwledge and understsndkn9 of Ihg tharitatlo cyJmp8ny and it8 enbirorwnent obt4inod in the cour88 of th8 audrt, we have not identffied m•tsrial missiaterrnts in the direclors, report induded within thè Tru¥tees' reporL In the ltrahl of the knowled9e and LKJerstandllw of the company and it8 VIrOnMe t)bt8iied in the e4urse of th• audlt, we have not identsfigd malen91 mitateMents in the Trustths, Taport. have nothlng lo rewl In rosp&ct ol the folk)wing matt&rs in rdatK>n to whith tha Companies Act 2( requires u5 tts rwrt to you rf, in our opinion.. adaquale accounllThJ records have not be•n kepL or r•tums ¥d•quat• for our au¢l ha not b••n r?Ned frcmn br8n¢h•s not Msitad by us., or th8 finandal statem&ntS are not in agreement with th• x¢ounting I)rdS and relumi,. or c•rtain disckjsures of Iruslètrts, rUrall0rt $p•dfi8d by baw 8re not mgde.. or we have not rfved all the Informalkn and explgnalths we requ for our 8udlt', or the Trusl¢e$ were not ¢nlrtl8d lo prepa the ffinanrial Ststernts In accordance wllh tho Sm1 comp8nlo8 regime and a¢Jvantage of thg small comp&ns. e¥ernptions in wtpwing tré Tru$lee$' rtport and from th• r¢qulremènt lo pr•par• a str•l•gi¢ r¢porL R••pon•lbMlts• of TnMt•• As eXained n0 lulty In the stalemgnl ol Tru$lges' r•SpOnlI118O, th• Trv$tae$, who •re al$0 thè diradors of th& l8rtt9b company fof the purpos¢ of o)mpany IyAt, ar• re5ponslt4è lor the preparat6on of thè flnandal 8latemèn18 and for belng $ib8fied that 9lve a In ar#J folr thew. and for sh inlemal control a5 thè Trustees dete10 k8 necgs$ary to enable tho preparation of financial statement$ that 8re free from materi81 misslal8Thnt, wheth8T du to fraj or error. In preparing the finarKial statements. th• Trusiaes are resptsn51e for assessing the tharftablè mpany'$ ability to continue as a going con¢•m. diK408kng, os 9pplib18. matters relgted to gn9 ClGeM and uslng Ihg golng ¢on¢em ba3 of accounting unl•s$ fv Trusl80s intand to Ilquidale Iha tharltsbl8 company or to c84 oper8Yorrf. ha¥9 no r8all%lk aR•malO¥ but to do . Audltorf• mpon•tblllUM fov th• •udlt ofth• Ilmncknl •1thm•nts Our obJedlv•s are lo obtaln Tea¥on8• a55urnnce ab¢yJt whether finanual statemwts 98 8 whol• •r• fr•• from material misslalemenl, whetr due to fraud or •mr. and lo issu¢ w auditorfs raport that indJe$ our opinion. Reasona1• 888ur8n¢o 1$ a hKJh level of assurance but Is not ¥ guarantee that an audll ndUCted In a¢xordan( th ISAS {UK) will akyays d•t8et a materf81 mlsst8tement wh8n it •xi61s. Missl8l¢monts can arlsts from fraud c roi and are consid•rgd material rf, indiwidually or in the aggfegats, Ilwy c¢ukl re•SonaY be expeclotl lo Influ&nc• eccffiomic d•c4s•)n8 01 u8w$ t8ken on It• b8118 of these fin4nc4al ststem•Yts. A further deSCp110n of Ouf responsibilities 18 a111* on th• Financial Rewtry CourKI's webBite It.. htty)s.'Il www.fr¢.org.UkJ8uditorsresponsiblrt. Trys dOPIlOn fornis part of our auditorfs report. 14-
ttyXuSn Enope ID: A07c6F1C-23WD1E-8W21A2B4 LAIDLAW FOUNDATION (FORMERLYTHE IRVINE LAIDLAW FOUNDATION) INDEPENDENT AUDITOR'S REPORT (coMfiNUED) TO THE TRUSTEES OF LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) Extent to thl¢h th• audltwas coMid•rnd capabl• of d•t•cllng irv•gul•rlti•s. Including frud Irregularib&s. induding fraud, are instance$ of noroMF11a1Ice with laws and regulations. dèsign procedure8 line with our respongbilrts. oudinetj at4)Vg and on the Fknan(¥al Reporting Coun(¥l's wgbBite, lo d91¢ matgrlal m15slal8ments respect of irr¢gularits•s. indL4ing fraud. Wg obialn and update ow understanding of t entrty, its athb8s, Its control %ronMant. and lik•ty futur• developments, including in r8lation lo Ihe legal and regulat1 framewoth apFAicabl& and how the ¢nlty 13 cornplylng wlth th81 fr8rrWr Based on this understanding. we idenllfy and assoss tho rf$ks of Matal mlsstslemènl of tho financial stateMt$, wh8th8r due to fraud or error, de9n al perfoThn •udit pffj¢odures rosp)nve lo those risk8. and obtain audit •nCe that is suffti8nt and appropiiale lo proNid& a ba3 lor our oplnhy). This includes consideTallon ol the ol ath by the entlty Ihat were contrary to apph'cable laws and regulalions. induding fr8ud. In responsè to th8 risk of Irregulath"e8 aThl norfrc¥)mpllarK• wrfh Iw$ and r•gul&tion8. indwling fraud. wo digned prdur•S whith induded.. . Erwjulry of mgnagemerrt t1¥0 dTg8d with •clual and pot•nllal I9&{n and clalm$ a$ well a$ actual, suspected and al8d fraud.. . Rwiwn9 minLrte$ ol meetings of those charged wtth goNwnwth'. Asse881ng the extent of mplianCe wilh the Liws and regulalb)nG c4nsid¥td to have a diroct rntsrfil ehc4 on the finwual stst•ments or the op8r8tion8 of Ihe entty thmugh enquiry and inspedlon.. RaewIng finanrid 8t•t¢menl dis¢h)sur•8 and tostiry to supF¥Nting 0mentatiOn to a8Bes8 c•mpll•rKg with apph'cthe laws and rggulallon8', Pertonning audit work ¢)v•r th& risk of mwwg•Thnl bias of controls. Iding ttkn9 of jownal entrie5 4nd olh8r adlu8tments for apWcwiot0ss. ovaluating the bu$ingss rationale of $SonIfi¢t Iransaclions outw'de the nornal wjrse of busines$ and retsknng auntIng g$tr"M8t for Ind110r$ of pol•nUal bla#. Becou80 of the knbeI lrnttollons of on audit, th•re is • risk IW we nol det•¢t 811 Irregularhlts, induding Ihoje leadlng to a malerfol mi$8taiern8nl in the flnlncial sts16mènts or norParth wtth regulallon. Thls sk increa6 Ihe more that coMnce wilh a law or regUlatn is removed from the events #nd transactions reflected In the finanal ¥ts1ents, ¥$ we wll kn88 likoty to b8com8 aw8Te of $tant•S of nonllcompllanc•. Tho r15k of not delecung a malertal mi96talwnent rnSUn9 from fraud is hvJher lh for ono rèBulting from error, as fraud may invdve collusion. forgery, 1rtent10n omlsslcns, ml$reprewttoOryM. LY lh• 0rride of Int•mg1 control. U•• of ouv r•port Thi$ rePt is made solety lo tho ¢haritabl8 ¢<mparf8 mombws. a8 a bxly. in •c¢orf•nc• wllh Chapter 3 of Part 16 of the Companle$ Acl 26. Our audit work has been undert8k¢n 80 that wg might stslo to tho th8Tit8ble ¢ompany's ffltmbers, 4$ 8 boty, th0 matters we are r8wired lo state lo them in •n audilors, report and for no olher purpo8e. To the fvlle51 extent perrrult*d by law, we not accept or assume Tesrthslblllty to anyone other than the charit8bltr company and tho chan10 o)mpony'¥ mgmboTS os a tyjdy. lor Ouf wofK for this report, or for Ihe oynionB w8 have formed. IL J•nnlftrAleMnder (Senlor St•tsrtory Audltor) for and on beh•lf olAz¢ts AlIt S•Thlc 6 Aw"120ZJ Chart•r•d Accountants Stahrtory Audltor Ttsnium 1 lcmg's Inth Placo Renfrew Renfrgwshlr8 UThted lfjngdom PA4 8F -15-
Doafjgn ErhW ID.. AD7CeF1C-Z3OHD1E-899PX2tK)1A LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDrfuRE ACCOUNT FOR THE YEAR ENDED 31 JULY2022 Unvntrlcl•d Unv••tslet•d fund funds 2022 2021 Not•• Donalons and legades 8.085.230 10,249,183 Ch•rrtable 7.764,326 16.278,853 Net Incomoll•xp•ndltyrnl for th• y••rf N•t In¢omlnglloutyolng1 rn•ourc•• 320.904 (8.029,690) Oth•r 99n1•d g•ln¥ athd Io•M• Oth8r 9ain8 Qr iossos 78,885 178.9191 N•t mov•m•nt In lund• 397,S89 18.108.809> Fur¥J balan1 at 1 August 2021 (5.078.335) 1,030,274 Fund baln¢M •131 Juty 2022 (4,680.746) IS.078.3351 The Stolemgnt olffinancial aLbIl inchJd8s 01 gn$ and rwnlsed In th• ye•r. Tho slatement of flnancL41 0180 wnplw wlth Ihè requlrements for On Ino)m• eXpendUrO a0Unt und&r Ihe CompaniosAd 2006. -16-
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) BALANCE SHEET ASAT31 JULY2022 2021 Flx•d a•••l¥ Inwstrnents CuTh•nt ats•ts Doblus Cath at baThk In hmd 74,n6 2,017.843 3,034.702 2.092. 3.103.270 Cr•dltorn: amouDts f•lkng du• Tlthl on• y••r 10 I4.1{.14n 14.822.358) (2.013.578) {1.719.0801 Totsl •M•ts l•M ¢uvv•nt (2.013.5 {1.719.0851 Cr•dltorn: •mounl• l•llng du• •fvr mor• Ihan on• y 11 (2,e67,1691 {3,3S9,2501 N•t Ilablllll•• (4.680.746) 15,078,335) Incom• lund Unre8trft#ed fvnd• {4.680.748) 15.078.335) {4.880.748) 15.078.335) 41612023 Th• Ilngnd•l $lat•n*th w¢rn apw0d by tho Tw#fjos on............. ... Lwd LaKllaw of Rothiemay Comp•ny R•gl•hfjon No. 1078OS20 17-
t)0C95 En¥ekpe ID.. AD7C6F1C-2WD1E49gwafKJ1h2B4W2D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY2022 2022 2021 Ca¥h flo from op•ratlng xtlvltl•s Cash Ibsothd by Operan$ 14 {1,016.8S9) (2,4622361 Il•t h u•d kn Invmtlng acthTItI•• N•t c••h u••d kn flnwKlng a¢tl¥ltkn• N•t d•cv•a•• In ¢a•h and ¢uh •qulvaknnts 11,016,859) 12,4622361 Cash and ca8h 9qtl¢nts al InnIng ofy•4r 3.034.702 5.496.938 C••h and $h •qul¥*l•nts 4t •nd Y••r 2.017.843 3.034.702 18-
Docuslw En¥Tk)pe ID.. ID71&280¥4OlE9s¢2cI)lA2B4 LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Ac¢owrttng pollcl•• Chartty Informallon Laidlaw Found¥bcx) The lThlne L•d•w FO) is • prpole tharit4b ¢ornp8ny limited by guaranlot IncoTPOTat6d In England and IN>I88. Thè reg18ternl offi¢0 h 2 New Ballèy, 6 Stanlèy Streèt. Sth, Greater Manthestei. M3 SGS. Vdth èff•d from 21 August 2020. Ihe name of the tharilabla (xirnpany wa8 tharyd from Th• IMn• LaSdl F¢wndatiM lo L8id8w Foundation. 1.1 Atcountlng Mnv•ntlon The finan ilalem•nts have b••n pr•p¥r•d in •c¢ordm with th• tha111a9 tr)mpanY$ Memorandum and Art3 of A88tti8lbn. th• C¢)mpanle8 Ad 2006 "Acf)>Jn15ThJ and Reporn9 by Charities.. Statement ol R8commended Practice applKat4e to tharities prepariThJ thèir a¢c¥)unts in accordance with the FlnanGlg1 R•porting Standard applublo in Iho UK and Rowc ol Ireland IFRS 102). Tha charita& mpOY r Publi¢ 8¥r Entty a8 defin•d by FRS 102. Th• lknawal stst•ments arn prnp•r•d in stwlir¥J. tthlth is fvnthnal of th• (hrttabkn rx)nyany. Monetary amount8 in the80 finond81 stalemw)t8 are rounded to n•ar•sl £. The flnandal 8tatsment8 have been drawn lor the r erthd 31 JU 2022. Th• Comparat p8MI 1$ drawn up for lh• y1 •nd•d 31 July 2021. Tho flnarthl fjl¥1gm8nls ha b•gn pY0pal histotsl ¢$t 1.2 Golng ¢on¢•m It Is th& Inlenlbn ol the Tw$lee8 10 8¢t up a Swiss Found8tlon in 2023. Th• lJad8 and 88se18 of L8Kllaw Foundation wll b• tran$f•rr•d lo th• Foundation in 2023 al whth thi$ charty 11 be wound up aTra 8truck off. The charable company has suffiuent funds avalAe to nIlI¥J tr¥dlw unill tt i wound up and to moet all of Its Ibablllues as théy fall du•. The financlal ststamonts havo thu8 bagn prnpw•J on 8 bath Otherth going c£•m. 1.3 Ch•rttabl• ld¥ Unreslridwj lund8 ar• a¥ItIo for u8• at tho d8¢xelh)n of the Trustees In fvrth8rnnc6 of their thitatIo obJeclive3. 1A Incom• Inrome is rwnis•d wh•n th• charlabb• conwny is entillod to * aftw any rfoan¢4 c¢ndlUon$ hav8 been met. Ihe amounts ¢an bg m•o$wed r•Ugbty. and it is wobatl& ihat inuJm• wll be recefved. C8$h dMatk)n$ ar• r•eognis•d on Ip1. Othw (k)nthns aro r•cognis•d onc8 th• charitable ¢cthpany hai been nolifigd of the don8tion, unle$$ perforni8nc cTrI1110nS requirn doforral of thg 9mount. Income tax recoverable In relalon lo donallons TKefved under GiftAid or d8ods of covenant Is re¢ognlsod at the Ilme of the dOnaon. 19-
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS {coKfiNUEDI FOR THE YEAR ENDED 31 JULY 2022 Ac¢ounllng pollcle• IContJnu•dl Exp•ndlknr• Eypendrture is rtcognised once there 18 9 legal or ¢¥tti obh'gob'on to tr8nsfrr economic benefft to Ihird party, il is prcèoble that a transfer of ec¢nomk beMfjt$ wiu rwthrad in salll8mrt ar the amount of the olAigation can be mtasuftd relably. Exp•nditure rd class1f by actlvlty. Tho (x>8ts of eath a(thity arB mad• up of tho totsl of COBts and Shored ¢o$t$. indudin9 $UPPOrt costs invofved in undertaking a¢aMty. 316 attribulat4e lo a sir4Jl8 tY are alocalfjd dlrecty to that athlty. Shar8d costs which clmtribute to more than on9 0¢vlty and lupport ¢08ts which ¥e ntsl attributablg to a single acliwty are apporb'oned tween those acttrwties on a ba$ig consiglènl wlth lh6 use ol re80urce8. Centr818t8ff cosls are 010¢gl¢d on bays of lime went. and dopredalion charges are alocatod on the PO ofth• u8•. Al èxponL¥tuw18 account•d for an a(xmls ba81s aThl ha$ t• dpssffi•d undgr h•gding8 that agw•Jate 11 costs related lo the (xlegory. Expendrturtr is r•cognis•d whoro th•rg 1$ a logal ty con$lwcti¥ obligatn lo make payrMn18 to Ihlrd parties, it i8 wobat4e that th¢ setllem•nl WO b8 requ and the amount of the oblvJo1ion can b• ffle88ured reI8tJly. 1rrnc0rabI¢ VAT 1$ 88 an •xp•M• agaktst Ihè adfvlty lorfik exp6Mbtw• ar08è. Grants Payab lo thyd parts 8r• wilhln th• dwllth oblecaThw Wther• u011 grgnls grg ¢)fforod, thls 18 accruvd a8 soon as the f•opwnt * notiw of the 9ranl. as this gives rise to a reasonable expectalon that the ret3pnI rtcèive tm grants. W)ere grants are wnditKThl r818ling to P8rfomionce the gr8nt 1$ only acuued when any unfvtrised e4Mdthn$ are oulshJ8 of lh• c4Nrtrd oftho thartty. 1.8 Flx•d a•••t knv••lm•nts Fixed 8$s•t inv8stmènts initialty measured at tranSacn pri¢ •xdudlng transaction c15, and arn 8ubwuenty mea8ure(l ai tslr va• 8t •8( rowting date. ChawwJe8 in fail vAJe are recognised In net InMell0xpondl1Urfj1 for the y•ar. Twsxthon eosts are expansod a5 hcjjwred. A jubsfdlary h an enJty ntro ty I ¢h•rflAbl• company. Control 18 the pmr lo wvem th¢ finond81 fjnd optsrating poIKies of the efttty so 88 lo obtain b8noffts froffl lls actMlle#. 1.7 Flnan¢l•l In•lnmwnl• The Foundation has elected lo aFs)ly thè pslon$ of Se¢Uon 11 'B•s FIng In8lruments' and Sedon 12 'Oih8r FinancAal InBtrurnenls l$sue5' of FRS 102 10 #ll of its fin•t)cial instrumonts. FSnan¢S01 inslwments are rwni5od in Ihe FoundatKJn's balanc sh•èt when the FOundatn b8comè8 Party to the ¢ontradual pro$10n$ ol the in$lwment. Financld ass•ts and labilth are offsrt wlh the net amounts presented in the finaal $taloment$, whon there is ¥ leg81ty enfor¢eabk right to s•t off th• recognised amounts and the is an Intention to satll8 on a not ba8 to rea$0 the asset and sotlle the babih'ty simultaneousty. 8a8k ffn•nctsl •ss•ts Basic fin¥wal 888ols, tthkh dabtors and cash and bk bAl&ns. are inibaly rn6asured al tran&iction price induding transa¢tK)n v)sts and are subsequenty camed at amortised cost using the effectiva inlerest ffth0d unless thè arrarwnent nSItIu1•S a finar transaction. where the transxtion 1$ measured at the present value of the future receipts diso)unt8d at a markgt rate of int8r&sL Finawal as$81$ dassrfiod as r•coivabb8 witth ono year It amartswd.
Oo¢uS9n ID: AD7C6FI¢-2W01E-899K2tK11A2B4WAJ LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 JULY 2022 Accounling polici IContlnu•d) Flnandal liabllthes and equity InstnThnts are da8sifd aclxrding to the &UtnCe of the eontr8¢tu81 arrangement8 enlered into. An equty instrumeni 18 any (tralI that eNidenc4s a re8idual Into$¢ In the assets of Ihe company after dedu('ng al of its Iwtmlrtw. 1.8 Employ•• b•n•fft• The o)st of any unusad hc4aY enti1knrt is recognis•d in the in vhlch lfrh• •Mpby.$ sepAceB arè T¢rmlnaUon bènefrts art re¢e4Jn1d inynedialely as en wense wfien th• drttae company 1$ demon8lrably commltttd lo lèminate Ihe •mpkJyinenl of an emF)yet txto prtiwde leallOn b•nefrt8. 1.9 R•tlr•m•nt b•n•fits Paym8nt8 to d8fined contrlbulon r811rwnent benefft adMe5 arè chard as an 8>p8nge as Ih•y fall d. 1.10 For•lgn •xchaw• Transactions in curr•na6s 0lh•r Ihan pounds sterlng arn rocrdad at thè rats$ ol fjxthang• pr•vallng at thè dat88 of the Ir8nsadions. At each rgporlkng end date, monet8ry assets and labu9$ Ihat ar• denominated in forfjlgn ¢urr¢no¢$ are retran$lal•d at lh¢ rale6 prwaa'ng C the repoiting eThJ dato. Galn$ and1088e8 arin9 on Iran818tlon are inGludgd in net hicom¥lexpendrturel for1 pwiod. DoMtlon• nd l•g•¢1•• Unrn•tsl¢t•d UThrnJtrletod fund• funds 2022 2021 Donallon8 and 9fft8 ,085,230 10,249,183 Donatlon* and gllts Highfand Group Hcldings Ltd 8,085,230 10,249,183 8,085,230 10.249,163 -21-
Dor9 En¥Jpe ID." IJ)7C6F1&2>)UD1E4D01w2D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2022 Charltsbkn Gtivilie• 21J22 2021 Staff costs Legal and prof•swon•l I$ Prtsgrnmm¢ t>)8ts Consultsw 18•$ Travd costs Webstte running costs Brandlrw arwj event o)6 Bank ¢hargo8 Ggngrgl expenBèB Subscriptions 520.421 1CQ,805 557,496 40.719 34.S47 3.271 411.289 50.125 9,276 56,700 8.957 3.432 9.115 255 6,472 19,870 6.911 4.031 1,273,480 575,471 Grant fundlng of t£1M1 note 41 Shar• ofgov•m8fK• ¢08ts 8,483.646 15.698,902 7.2C(I 7,784.328 18.278.853 GOV•man indud* paymènts to th8 audttors of £7,2(KI (2021.. £6,480) for audit f••i.
0o(xJSbJn EtAby ID.. AD7clc-23OD1E-8891A2Bl920 LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Grnnts p•ybl• 2022 2021 Gran13 10 ins161utioni'. Cjmbia Bu6iness School CcJmbla Unfv¢rnMy Comell Unlv•rsty Laidlaw Schools Trust Leeds UnNer8ity Royal Opera House so Oxftyd Bun&$$ School Ilkn¢n in Loidlaw Teathing and Leaderstiip C•ntr8 {Buildiffj8) Skngapore UnNer8ty Trfnlty Col•98 Dublin IMkn)en In Bus68) Unlverstty ol Durham UnIrsty of Hong KoThJ Univorsity of TNonto Univ•rsity of Tufts London Scthool of E¢>¢M Ukrnnian SOS Fund IOlh•rl Swoss Federal In6litui• of Tethnology In GeorgelfJm Unlvgrnty Nthvharn Colege Bamard Colege 2,242.938 810,769 825.358 1.922,064 3,144.B16 740,(KIO 250,000 1.350.000 328,892 2.418.744 204,3871 731,223 510,000 454,210 1112,1961 8S5,425 810,OLYJ 375.205 918.548 250.000 949.083 931.454 810,000 870,000 8.483,fj4e 15.696,902 Du• lo the now agnIS being in Ihe name of tho FeAJndation tho fum amount d the agreem•nl has boon Snduded In the expenditurè in Iho year. in line with carty amnb.ng requiremfrnts. Se• Nolg 3 and algo th? Finan¢ial R¢vw $ection's tabkn on page 9. Fundlng for the agr¢•m•nts whl contknue to b8 provid•J by the main Sponsor a$ the pgymenl dat¢$ fgu dug. A fwther payinent of £1,371.501 was m¥d• to th• Laidlaw Sthools TnMI after th• y•or •nd In August 2022. None ofthe trustees lor pwson8 ca)nrded wlth them) recthed ary remunef8tson thJrlr4J the year. Ouring the yaar 8)ynses of £nl were reimburned to tn¢tees (2021.. enl). -23-
LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 JULY 2022 Empl¢)y• The average fflonthty number of tmpbyee8 duiThvJ the year was.. 2022 Numbor 2021 Numb•r Staff Employm•ntco•ts 2022 2021 Wages and salarlos Sockg18ecurity co811 Other pension t>)sts 447,966 58,897 13,558 353.)0 47.319 10,950 520.421 411.209 Key Management P•rsMn•l w•re o)mp•ns•tsd £398.429 during the y•¥ •ThJod 31 JJJY 202212021- £388,173). Th• numbar of •mF4w•i annual remunwallon was mDr• than £eo.fy)o Is 48 follow•.' 2022 Numb•r 2021 Numb•r £330,000. £340,C £340,000. £350,C Contrlbulong lolallng £10,01312021.' £9,000) wore made to deffined c0rAribLn panslon SL•m•J on bgh8lf Of ernoyeeS who80 emoluments exceed £80,CXI. Oth•r g•lM IK Io•M• Unmtrictsd Unrestsictod [d frjnds 2022 2021 Foreign exchang8 gains 176.6851 78.919
EN¥d¢Fe ID.. AD7C6F1fr230HOIE-a2J1A2ffj92D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR ThIE YEAR ENDED 31 JULY2022 Flx•d as591 lThv•slmonts Oth•r Inv••tm•nts Co•1 or valuatlon Al 1 AJuSt 2021 & 31 2022 Carrylng amount Al 31 Juty 2022 Al 31 Juty 2021 2022 2021 Olher InvlM•nts comprls•.' Inv•8lm•rrt8 wi 8ubsidlari88 13 O•btor• 2022 2021 Amounts l•llng du• fAthln on• yw. Trade debt¢Jf8 otr debtors 74,728 67,e80 74,726 10 Cr•dltsrn: amounts flllng du• wlthln on• y•ar 2022 2021 Other tualion and 8¢MI seaKiy Trade uedllors Other creditw4 Acuuals and def0rr8d Ino 25.794 2,498 4,097.346 8,303 4,790,280 6,302 4,1C6,147 4.822,356 Induded wilhii Other Creditors •e m•d• wior to th• year emd for ffiJtur• grants payabl• by the FoundatKJn, amoLmVng to £4,097,34812021- £4.790.260). -25-
Docu&w k)Fe ID.. NL17c8F1C-2lEc2lA2Bl92D LAIDLAW FOUNDATION (FORMERLY THE IRVINE LAIDLAW FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 JULY 2022 11 Cr•dStorn: amounts hlllng du• aft•r mor• than y•ar 2022 2021 Other Ixodit(Ys 2,887.189 3.359.250 othor credllors late to wmnments made lo firtufa grnnts payable by th& Foundation pllor to Ihe p¢Ylod end. Thes• grants be fUle by donation8 m•Je by th• Found•tKin'$ sole sponsor, Lord Laldlaw of Roihiamay. 12 R•l•l•d party traM•GtSon During th• y••r th• Foundthn d¢ti5 01 £8.085.230 (2(r21: £10,249.1631 from Highland Group Holdlngs Ltd, a ¢J)mpany wfiolty tyn•d by Tnth L(xd LaJlaw of Rothlomay. At the yeor ond. a balance of £87,8eii (2021.. £67.8801 wo8 lo tho Foundgyon by Spg¢ba¥8gd Trangportalhjn Lld. During the ygar the FOund10n mgde a charltat4& ¢onoti¢)n lo ts Laldlaw Sel$ TMI lotsllkng £1.922,084 12021.. £3.144.818) ofwhich Lord Laldlaw ol Rothtemay is a mernb•r. 13 Suhldlarf•• Thèsè fkn8nd418latem•nl• 8yrat• tharitablo CoMpY Ilnandal 8taterne for the year eThJed 31 July 2022. D•taS18 of tho ¢hgritlo a)mpanY8 $ub8Sdlary at 31 20221$ M folIty.. N•m• of und•rt•klng R•gl•t•nd N•luTr ol buBln• Cl•M of % H•ld •h•rn• h•ld Dlr•¢t Indh•ct ROthmIY Tr¥#Jts)g Lbmtted Englard Dormwrt company Ordinary 1fKI.00 14 C•h g•n•rnt•d from op•rntlon• 2022 1021 Surplusllilglkttl for the y•gr 320,904 16.029.690) Adiuslments for. Foreiw exthar4Jo dlffgrMe¢s 178,9191 Movernents in wtrn0 ca•1. Oncreas61 In debtor8 IDecreasolfincreas6 in ¢yediiO (6,158> {1.408.29)) {908) 3.647.281 C••h #bMrt•ed by t)p•r•tl•n• {1,016,BW 12.462,236) 16 An•fysls of¢hangu in net lun The thartt4bk c¢mp*y had no debt the year.