Charity number: 1198066
THE LAUDERDALE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022

THE LAUDERDALE TRUST
CONTENTS
R•f•r•ne• and Admini•trntlv• D4tsil• of th• Ch*ty. Its Tru•t••• Advlso
Trusts•8' Roport
Independent Auditorn, Report on th• Financithl 8tat•m•nt•
StateM￿t ol FIn￿cIal Actlvltl•s
10
Stat¢m•nl of Cash Flow•
Note• to the Financial Statem￿t>
12-20

THE LAUDERDALE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 30 JUNE 2022
TNst••s
J Kinton, Chalr (appointed 8 June 2021)
A P L Cornes, Trustee (appointed 9 June 2021)
G J N Farrant. Trustee (appointed 8 June 2021, reslgned 16 September 2022)
J R Harrison, Trustee (appointed 9 June 20211
M C ￿ntOn, Trustee (appointed 9 June 2021)
A Komashie, Trustee (appointed 9 June 2021)
Charity registered
number
1195066
Principal
12 Grange Road
Cambridge
Cambridgeshire
CB3 90U
lTrdepondent auditors
Ashcroft Partnership LLP
Chartered accountants & sLthtory auditors
Trumpington High Street
Cambridge
CB2 9SU
Bankers
Lloyd8 8ank
25 Gresham Street
London
EC2V 7MN
Inveslment Manager5
Chartes Stsnley & Co Ltd
55 &'shopsgate
London
EC2N JAS
CCLA Investment Management Ltd
One Angd Lane
London
EC4R 3AB
Page 1

THE LAUDERDALE TRUST
TRUSTEES. REPORT
FOR THE PERIOD ENDED 30 JUNE 2022
The Trustees of the Lauderdale Trust (The Trusn, a n￿Y registsred charity, presenl their annual report and
financlal statements for the perlod ended 30 June 2022.
The financial statements have been prepared in accordance wlth the ac¢ounting policies sel out in note 1 to the
financial slatements and comply v￿th the charitys trust deed, the Charities Act 2011 and "Accounting and
Reporting by Ch8rrties'. Statemènt of Recommènded Practice applicable to charities preparing their accounts in
occordan¢e the Financial Repo￿n9 Stsndard applicable in the UK and Republic of Ireland IFRS 102)
effecllve l January 2019..
stNclure
The Lauderdale Trust is an unincorporated ¢haritsble trust govemed by the TfUStee$ in a¢cordan¢e with the
DeGlaiation of Trust ("Deedl registered wth the Charity Commission of England gnd Wale8. Truste￿ are
appointed by election in accordance the Trusfs artides of assocAation.
Objectives and activities for the public ben•fft
The objects of the Trust are. for the public benefft. the advancement ol the Christian faith in the Unrted Kingdom
and acTOSS the world. The main activity through whi¢h this is achieved is the provision of grants and financial
support to individuals and organi5ations to enable Ihe trainlng and development of teachers, preachers, and
Chrislian disciples, and to support and promote the wider church mission.
The Truslees ensure that any strategic focus falls within the objects of the Trust.. the current fo¢u$ ￿ on making
grants to other UK registered charities for a maximum of three yeats. followina a detailed application and
as5e5sment process, and ￿th slx-monthly monltorlng and revlews built into the agreement. The grant-making
policy is regulady reviewed by the Trustses to ensure Ihat it continues to meet the objeGts of Ihe Trust and
thereby advances the public benefit.
In settirEg their grant-making policy and vthen ￿vIe%￿ng the Trust's aims and objectives. the Trustees confimi
that they have given due consideration to general guidance published by the Charity Commission relating to the
public benefit. induding the guldance 'Public benefflt: runnlng a charity (PB21'.
Achiovemonts and perfornianco
The establishment of a TIu8tee board, induding work on govemancg arrangements, gtrategic focus and
the management slructure itwired to best enable th¢ Tfust to meet its aims and objectives.
The use of consuftancy resources and Trustee involvemenl to create the necessary administralfve
intrastrucbjre, communication mechanisms, processes and resources. and reporting Structures to deliver good
goveTnance, a&3ess grant applications and enable the disbursement of fvnds.
Following a tendering process, V•ith independent professional advice, the appointment of CCLA as
invesknenl managers, the Trustees being Satisfied that CCLA were best placed to meet the Charity's investment
requirements. This appointmenl has allowed the Trustees to Gommence the transfer of Ihe gifted threct-listed
investments across to managed fijnds in a diversified portfolio CCLA.
Wlthin this first year of operation, the receipt of 38 fvll applications and the subsequent seleclion of 24
chafilies {660h of applications received) whith are aligned with the Trusvs aims and objectives, leading to the
disbursement of fvnds for specified projects. £561,651 was disbursed during the year, with a further £1,460,209
committed for futtl￿ years {vthi¢h 1$ shown within the accounts as £1,380.498 dlse to di$countiDg to present
value). 62% of the funds disbursed related to projects thin the UK, ￿￿th the remainder being overseas proje¢ts,
wtth a varitty of causes supported including church growth, mission oi outreach work and projects related to
tralnlng and education.
Page 2

THE LAUDERDALE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
Financial review
The principal 8OUT¢e of fvnd5 has been the githng of dire¢t4isted investments, valued at £30m at the time of
gilbng. During the year, the Trustees have appointed an investmenl manager to receive the funds from the
phased disposal of the direct-listed inveslments.
The Trustees have the power to spend or retsln both capltal and income and so the fiJnds of the Trust are
classed as expendable endowment. The Tnjst does not actively lundraise and seeks to meet the objects of
the Trust through inwme on investments and a gradual utilisation of the capital.
Despite the prevailing market conditions and the impact this has had on the invèstsnent performance of both the
dI￿¢t-11$ted investments and the managed fvnds, th8 Trust is satisfied that the move towards a diversified
portfolio and the oppointment of an investment manager enoble$ the Trust to remain confident that liquidty can
be managed %thilst still having a long-term investment horizon.
In that Contèxt, the Trust policy is to hold zt least 12 months of fvnds in cash zeeouftts lor èasy aecess to make
9Farrt payments and cover operational costs.. this is currenty set at £2m and is reviewed annually.
The principal risks faced by the Trust are therefore..
Further reducb.on in the value of the direcl-listed investments andlor poor performance of the managed
fund5. Mthgation - direct-listed investments to be disposed ol and invested wthin the diversified portlolio of the
investment manager wilh clear guidance on investment policy and risk profile.
Misu$• of funds ty charities who are provlded ￿ a grant. Miti'gation - rigorous assessment belore Ihe
selection of projects to support. followed by six-monthly reviews built into the grant agreement ahèad of release
of fiJnds, the ability to v¢ithhold ffiJnd5 at 8ny point or to seek repayment.
StNthrey governanGe and management
The Trust was established by a charitsble trust deed on 8 June 2021, I￿1h 6 TnJ$tees, and was f¢￿stered with
the Charity Commission C¢n 6 July 2021 (registration number 11950661.
The management of the Charity is the re$pon81bilty of the Trustees who are elected and co-opted under the
terms of the Tru$1 deed.
The founder inv4ted the inthal trustee8 lo #Èrve on thé board. Those 8gr?¢ing to 8erve w¢r¢ required to ￿nfir
their eligibility, non-disqualification and any Gonflict of interest through formal declaration. Future trustees ￿￿11 be
invited to serve by agreement of the board of truslees and will be required to make the same dedaration. The
Trust deed states that the number of Trustees shall be at least 5 and nol more than 12, and that they shall be
followe[5 of the Christian faith in ?￿ordance wth the statement ol belief set out in the Aposles, Creed. M J
Kinton and M C ￿nIOn were appointed Trustees for lif•', all r)ther TDJ8tee$ are appointed tor temis of 3 years.
Trustaa$ receive a briefjng and guidelines ouuining all aspects of the Tnjsfs putpose, processes and activnles.
Those new to a trustee role also ieceive independent tN$tee training and documents ouvining Tru8tees' dutie8.
During this first year of operation, Trustee involvement and Ihe use of eonsultancy resources have both been
instrumental in beginning lo create the ne¢e888ry administrative infrastructure, communlcation meehanlsms and
reporting slruclures to deltver good governance, a¥8e8s grant applications and enable the dlsbursement of
funds. The Trustees are espeaally thankfrjl for all that John Greaves ha$ contributed in ellabling the
establishment of the Trust, the launch of the application and 8sse$6ment process, and the e81ablishment ol
relationships Projects and other key stakeholders. This has in tum hèlped the Trustees to delermine what
organisational 8truclure wll be needed for the yeaTS ahead.
Page 3

THE LAUDERDALE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
Statsment of Truste￿. responslblllli
The TTuslees aTe responsible for PTepaTing Ihe Twstees. Report and the financial statements in accoTdance
applicable law and United lQngdom Accounting Standards {United Kingdom Generalty Accepted Accounting
Practice).
The law applicable to charibes in England & Wates requires the Trustee$ Io Pfèparè financial statÈment8 for
each finandal year vthich gtve a true and frdir view of the state of affairs of the Charty and of tis incc¢ming
resources and application of resources, induding its income and expendiknre, for that period. In preparing these
finan&al statements, the Trustees are required to..
Select suitable a¢counting policies and then apply them consistenty..
observe the methods and principles ofthe Charities SORP {FRS 1021.,
make judgments and accounting estimates that are reasonable and pyudent..
state vthether applicable UK Aceounfjng Standards (FRS 102) have been followed, Subject to any material
departures disclrgsed and Èxplainèd in the financial st8lements',
prepare the ffinancial statements on the going concern basis unle$s f£ i8 inappropriate to presume that the
Charity ￿11 conbnue in business.
The Trustees are responsible for keeping adequate accountlng recor(Is that are sufficient lo show and explain
the Chaiivs transactions and disclose with reasonable accuracy al any time the ffinancial posibon of the Charity
and enable them to ensure that the financial ststements compty the Charities Acl 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of Ihe Trust deed. They are also responsible for
safeguardlng the assets of the Charfty and hence for ta￿n9 reasonable steps for the prevenuon and detecllon of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
J R Harrison
TNstee
Datg.. It?
Izl
Z3
Page 4

THE LAUDERDALE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE LAVDERDALE TRUST
Opinion
We have audited the financial statemerts of The Laudeidale Trust (the 'charity'l for the period ended 30 June
2022 Nthich comprise the Ststement of Fln8ncial Activfoes, the Balance Sheet, the Ststement of Cash FIoY+E and
the related notes. including a summary of significant accourbting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingik)m Accounting St8ndards, including
Financial Reporlino Standard 102 'The Financial Reportinu Standard applicable in the UK and RÈpublic of
Ireland, {United Kingdom Generally Accepted Accounting Practice).
The ffnancial ststements have been prepared in accordance with Accounting and Reporfing by Charities
prepayéng the4r accounts in accordance v¢ith the Financial Repotting Standard$ applicable in the UK and Republic
of Ireland IFRS 102) in preference to the Accounting and Reporling by Charities.. Ststement of Recommended
Practice issued on 1 April 2005 Nthich is referred to in the extsnt regulations bLrt has been withdrawn.
This has been done in order for the accounts to provide a true and fair vièw in accordance v￿th the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our oplnion the ffinancial statements..
give a true and fair view of the stsle of the charivs affairs a$ at 30 June 2022 and of incoming
resources and applicab.on ol resources for the period then ended.,
have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting
Practice: and
have been prepared in a¢cordan¢e vlth the requlrements of the Charities Act 2011.
Basis for opinion
We conducted our 8uI*t in accordance wilh Intemationol Standards on Auditing {UKI (ISAS IUKII and appllcable
law. Our responsibilitses under those standards are fvrther described in the Auditors, responsibilib'es for the audit
of the finanual statement5 section of our report. We are independent of the tharity in accordance wlh the elhical
requirements that are relevant to our aud(t of the financial ststements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and wa have fulfilled our other ethical respon$ibililies in
accordance th these reqLFirements. We belleve that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
onciuslons relaitng to going concern
In audlting the fjnancial statements, we have concluded that the Trustees, use Of the going concern basis of
accounting in the Preparation ofthe financial Statements 18 appropriatè.
Based on the work we have perfomied. we have not identifièd any materlal uncertaintie8 relating to events or
conditions that, individualty or colleGtively. may cast significarrt doubt on Ihe chantys ability to continue as a going
¢oncem for a period of at least ￿1ve months from vthen the finan(ial Statements are authorised for issue.
Our responsibilities and the rewon8ibililies of the TN8tees ￿1th respect to going cMcem are described in the
relevant sections ofthis report.
Page 5

THE LAUDERDALE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE LAVDERDALE TRUST ICONTINUED)
Other information
The other infomiation comprises the infornialion included in the Annual Report other than the fin8ncial
statements and our Auditors, Report Ihereon. The Trustees ore responsible for the other information contsined
thin the Annual Report. Ouf opinion on the finan¢i81 statements does nol cover th8 other information and.
exGept to the extent otherwse eXpliu￿Y ststed in our report, we do not ¢xpres5 any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consldtrr wh&ther the othef
inf0rn18tion 18 materially inconsistent wth the ffinancial statements or our knt)vAedge obtained in the wurse of the
audit, or othermse appears to be materially misstated. If we idenlify such material inconsistenaes 01 apparent
materfal misststements, we are required to determine wfiether this gives iise to a material misststement in the
financial statements themselves. If. based on the work w￿ have performed, we condude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to rep￿ in this regard.
matte￿ on which we required to v•port by •xc•ption
We have nothing to report in respect of the followng matters where the Charities (Accounts and Repots)
Regulations 2008 requires us to report to you If, in our opinion-.
the information gven in the Trustees, Report is inconslstent in any material resped with the ilnanGial
statements., or
sufficient accounting records have not been kept., or
the ffinencial statements are not in agreement wth the accounting I￿0rd* and retums,. or
we have not received all the information and explanations we require for our audit.
Responslbllltle$ of trn$tee$
explained more fvlly in the Trustees, Responsibilities Statement, the Trustees are responsible for the
preparation of the finoncial ¥tatoments ￿1¢h give a true and fair view, and for such intemal control as the
Trustees determine 1$ necegsary lo enable the preparation of financAal statements that are free from material
mtsststemEnt, whether due to fraud or error.
In preparing the financial statements. Ihe Trustees are iesponsible for assessing the charity's abilty to Continue
as a going conGern, thsclosing. as applicable, matters related lo going concem and using the going concem
basls of accounlng unless the Trustees ether intend to liquidate the charity or to cease operations, or have no
realistic alleinative but to do so.
Page 6

THE LAUDERDALE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE LAUDERDALE TRUST {CONTINUED)
Auditors. rnsponsibilitigs lor tho audit of the financial Ststements
We have been appointed a$ audilor under $e¢tton 144 of the Charilies Act 2011 and report In accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about ￿ether the ffinancial statements as a ￿ole are free
from material mi¥$tstement. wknether due to fraud or error, and to i8Jue an ALbditors' Report that include8 our
opinion. Reasonable assurance is a high levd of assurance. but is not a guarantee that an audit wnducted in
accordance wth ISAS (UK) wll aKYays dètect a material misststement when it exists. Misstatements can arise
from fraud or error and are considered mgterial if, individually or in the aggregate, they could re8$onably be
expected to influen¢e the economic deasions of users taken on the ba8is of these finanual statements.
I￿egUlaritieS, induding fraud, are instances of non-compliance with laws and regulations. We deslgn procedures
in line wth Ouf responsibilities, oullined above, to detect material misstatements in respect of irregularitie5.
including fraud. The extent tts vthich our procedures are capable of detecting irregularities, indudino fraud is
detailed below..
1) Enquiring of management around actual and potential litigation and claims.,
2) Reviewing minutes of meetings of those charged y￿1h govemance.,
3} Reviewing financial Ststement disclosures and testing to supporting documentation to 8s8e88 compliance with
applic8ble laws and regulations.,
4) Performing audit work ovèr the risks of management overrlde of control$, including testing of journal entrles
for appropriateness and revlewing accounting estimates for bias.
Because of the inherent limitalions of an aLEdit, there is a risk that we will not detect all iffegulartties, including
those leading to a material mrsstatement in the financial statements or non-complianGe W￿th regulation. This risk
increases the more that compliance wth a law or regulation is removed from the events and transactions
reflected in the finanryal ststements, as we be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irTegularities occurring due lo fraud rather than èrror, as froud involves
intentional concealmènt, forgery, collusion, omi$sion or misrepresentation.
A fvrther deS￿IptiOn of our responsibilibes for the audit of the ffinancial statements 1$ located on the Financial
Reporting Council's website at:
dtto
Audllots, Report.
This description form5 part of our
Usg of our veport
Thi8 report i• made sol¢ty to the charity8 truJtees, a8 a bofty, in arxordance bvith Part 4 of the Charities
{Accounts and Reports) Regulations 2008. Our audit work ha$ been undertaken so that we might state to the
chariVs trustees those matters we are required to slate to them in an Auditor3, Report and for no other purpose.
To the fijllest extent permitted by law, we do not accept or as$ume responsibility to anyone other than the charity
and its trnstee8, as a body, for our audit work, for this report. or for the opinions we have formed.
Page 7

THE LAUDERDALE TRUST
INDEPENDENT AUDITORS. REPORT TO TtrIE MEMBERS OF THE LAUDERDALE TRUST (CONTINUED)
kc+
Askroft Partnerahlp LLP
Chartered acctyjntsnts & ststutory authto
Twmpington HI￿ Strtel
Cambridoe
CB2 9SU
Date.. l 3 |o&lao£S
Ash¢roft Partnership LLP ar¢ ellgjble to aet a8 audltors in term5 of sedion 1212 of thè Companies Act 2c￿.
P¥g¢ 8

THE LAUDERDALE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENOED 30 JUNE 2022
Unrestricted
funds
2022
Total
funds
2022
Income from:
Donations and leg8cies
Investments
29,797.946
76,861
29,797.946
76,851
Total incomè
29.874,797
29.874.797
Expenditure on:
Raising fvnds
Charitable aGtivilie$
40,184
2,032,676
40,184
2,032,676
Total expenditure
2,072,860
2,072060
Net inry>me before net losses on investments
Net losses on investments
27,801,937
27,801,937
15.254.90n 15254.907)
Net rnovernenl in funds
22,647,030
22,647,030
Reconciliation of funds..
Nèt movèment in fiJnd$
22,547,030
22,647,030
Total ￿Thd$ carried forward
22,547,030
22,547,030
Th• Ststsment of Fin8nfAal Actlvilies iidudes all galn8 and108ses re¢ogni8ed in the period
The notes on pages 12 to 20 form part of these financial statements.
Page 9

THE LAUDERDALE TRUST
BALANCE SHEET
AS AT 30 JUNE 2022
2022
Nolo
FIX￿ assets
Investments
21,792,866
21,7920SS
Current assets
Debtors
Cash at bank and in hand
72,7fA
2,079.197
15
2,151,9S1
(734,672)
Creditors.. amounts falling due vthin one year
Nel current assets
1,417379
Total ass•ts Igss current liabilitlo$
23,210,134
1663,104)
Creditors.. amounts falling due after mole than one year
12
T¢)tal net a5￿ts
22,547,030
Charlty funds
Restricted funds
Unrestrirted fvnds
13
13
22,547,030
Totsl (unds
22,547,030
The finan¢lal statements werè approved and authorised for issue by the Trusteès and signed on their behalf by-
J R Harrison
Trustse
Date..
The notes on pages 12 to 20 form part of these finan¢¢al statements.
Page 10

THE LAUDERDALE TRUST
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 JUNE 2022
2022
Cash Ilows from operntlng aclivities
Net cash used in operating activities (see note 141
1676A761
Cash flow& from irtv•$ling activltio#
Dividends and interest from invesknents
Proceeds from sale of investments
5,041
12.505.471
19,735,839)
Pur¢ha$e of investments
Nel cash provided by investing activities
2,754,673
Cash flows from flnanclng a¢tivltlès
Nat cash providgd by financing acllvities
Ghange in Gash anql cash equivalents in the period
2,079.197
Cash and ca$h equivalents at thè end of the peri¢)d
2,079.197
The notes on p8ge$ 12 10 20 form part of thes8 financial statements
Page11

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDeD 30 JUNE 2022
Aceounling polici•s
1.1 Basis of prepar4ts)n of financial statements
The fjnancial statements have been PTepared in a¢¢ordan¢e the Charites SORP IFRS 102) -
Accounting and Reporting by Charrbes.. Statement of Recommended Practice applicable to ¢harilies
preparing Iheir accounts in acGordance the FinanGial Reporling Standard appliGable in the UK
and Republic of Ireland IFRS 102) (effective 1 January 20191, the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf vlew and have departed from
the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provlde a true
and fair. view. This depathre has involved followng the Charities SORP (FRS 1021 published in
Octobér 2019 rathef than the Accounting and Reporting by Ch8rilie8: Statement of Recommended
Practice effective from 1 April 2005 vthich has since been withdrawn.
The Lauderdale Trust meets the definibon of a pub￿¢ beneffit entity under FRS 102. Assèts and
liabilrbes are initially reco￿lSed at hlstorieal cost or transaction value unless othÈMsÈ 8tstèd in thè
relevant accounting policy.
1.2 Going ¢on¢ern
The trustees are confident thal the eharity has adequate Teseryes and resource8 to continue
operations for the foreseeable fu￿re and 1$ well placed lo manage its business risks successfully
de¥Jrte the current uncertain economic ou￿00k. For this reason, they ¢ontnue to adopt the 90ing
concem b881s in preparing the finanual statements.
1.3 Fund accounting
General fvnds are unrestricted funtjs are available for use at the discretion of the Trustees in
fijrtherance of the general obiectives of the Charity and have not been designèted for other
purposes.
The charity does not have restricted ￿ndS
1.4 Income
AJI incoffle 18 reGogn15ed onGe Ihe Gharity has enl"ttement to the income. it is piobable that the
income will be received and the amount of income recebvable can be measured reliably.
Where the donated good is a fixed asset, it is measured at faiF value, unless It is impractical to
measure thi5 reliably, in which case the cost of the item to the donor should be used. The gain is
recognisèd as incomè from donations and a corresponding amount is included in the appropriate
fixed asset clas% and depreciated over the usefrjl economic life in accordance wth the Charitys
accounting poliaes.
Income tax rèeoverable in relation to investment income is recogni8ed at the time the investment
income is receivable.
1.5 Expenditure
Expendltuie is recognised once there is a legal or constructive obligation to transfeT economic benefft
to a third party, h is probable that a transfer of economic benefits wll be required in setdemerrt and
the amount of the obligalion can be measured reliabty.
Page 12

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDEO 30 JUNE 2022
Accounting polkies Icontinuadl
1.5 Exponditule {¢ontinuedl
Expendriure on raising funds includes all expenditure incurr8d by the Charty to raise ffiJnd5 for ts
Charitable purposes and ineludog investment management costs.
Grants payable are th8rgèd in the year vthen the offer 18 made except in th08e cases where the offer
18 conditional, such grants being recognised a5 expenditure when the conditions attaching are
fvlfilled. Grants offered subject to conditions whlch have not been met at the year end are noted as a
commitment, but not a¢cTued as expenditure.
l expendilure is In¢￿S1ve of irrecoverable VAT.
1.6 Foreign currencles
Monetary assets and liabifities denominated in foreign ¢urrenue8 are tran$lated into sterling al T•t•s
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated Into steiling at the rate rulng on the date of the
transaction.
Exchange gains and losses are recogn18ed in the Ststement of Financial Actwrties.
1.7 Invoslmonts
Fixed asset investments are a form of finan￿￿1 Instwment and are initially recognised at their
transaetlon cost and sub5equenUy mèasured at fair value at the Balancè Sheet date, unless the value
cannot be measured reliably in vthich case rt 1$ measured at cost less impairment. Investment gains
and losses, wthether realised or unrealised, are combined and presented as 'Gainsl{Losse$l on
investments, in Ihe Ststement of Financial Activiknes.
1.8 Debtors
Tradè and other debt0￿ arè recognised at th• setllement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highty liquid investments Y￿th a short malurity
of three months or le$8 from the (Jale of acqui8iUon or opening of the deposit or Similar account.
Page 13

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
A¢¢ounting polKi•s {¢ontinuedl
1.10 Liabilities and provisrons
Llablllues are recognlsed when there Is an obllgalion at the Balance Sheet date as a resutt of a past
event. it 18 probable that a Iransfer of economic benefrt ￿11 be required irb setuement, and the amount
of the settlement can be estimated reliably. Liabilities are recognised atthe amount that the charty
anticipates it will pay to setUe the debt or the amount il has received as advanced payments for the
goods or 8eThi¢¢$ tt must provld&.
Provisions are measured al the best estimate of the amounts required to settte the obligation.
Grant commitrnents are recognised a5 liabilities in the balan¢e sheel and tharged to the statement of
financial activiknès when the grant agreement is signed. Grants due in more than one year are
discounted to present value. The discount rate used is determined by the trustees after considering
the expected Ime value of money for the charfty.
1.11 Financbal instruments
The Charity only ha$ financial assets and financial liabilitie8 of a kind that qualfy as basie financial
instruments. Basic financial in8truments are iniknally recognised at transaclion value and subsequently
measured at th¥ir $etttement value wth the exception of bank loans which are subsequentty
measured at amortised cost using the effective interest method.
Inc(vne from donati¢)ns and legacie5
Unrestricted
funds
2022
Total
fund5
2022
DonAtions
29,797,946 29,797.946
Investment incomè
Unrestricted
fund$
2022
Totsl
funds
2022
Income from investments
Interest received
76,845
76.846
76.851
76.851
Page 14

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENOED 30 JUNE 2022
Inveslment management Costs
Total
funds
2022
funds
2022
Investsnent management fee8
40,184
40,184
Analysis of axpnditurn by ACtiviti•g
Grant
fundlng ol
activities
8upport
cost$
2022
Total
funds
2022
2022
Direct costs
1,942,149
90,526
2.032.875
Analys1$ of $upport ¢o$ts
Total
funds
2022
Activities
2022
Athertislng and marketing
Admin support and bookkeeping
Postag¢, F￿Ight & Courler
IT softhre and consumables
192
47,042
31
192
47￿42
31
7,220
7320
r li
Legal 8nd professional fees
Printing and slalionery
Bank charges
Subscriptions
Training
Telephone and intemet
Trustee travel expenses
Travel expenses
Audit Fee
24,079
43
15
33
250
978
24,079
15
250
978
256
387
10,000
10,000
90,526
90.526
Page 15

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
Analysis ol grants
Grantsto
Insti￿*1￿￿$
2022
Total
funds
2022
Grant maklng athvllles
1,942,149
1,942,149
Grants awarded In the year
2022
Granted for projects in United Kingdom
Granted to UK Charities, for projects in othor ¢ountrios
Granted for projects in other Gountries, via a UK intermediary
1,560226
198W7
183,616
Total 9rants awaKded in the year
1,942.149
Auditors. remunerntion
2022
Fees payable to the Charitys authtor for Ihe audit of the Charivs annual accounts
10,000
Trustoes. r•mun•ratl¢)n and exp¢ns•s
During the period. no Trustees recelved any remuneralion or other benefts.
During the period ¢nded 30 June 20f2, expenses totalling f256 were réimbursed or paid directty to 1
Trustee for travel expen8eg. No othèr trustees received any other reimbursement for expènses.
Page 16

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDeD 30 JUNE 2022
Fixed asset inve#tm•nts
DireGt li¥tod
inve51menl$
Managed
funds
Total
Co$1 Of valuation
Addibons
Disposals
Revaluations
30,228.116
112,SQS,4711
<4￿56,6331
9,315,668 39,543,784
{12,505A71)
(389,9251 (5.245.468)
At 30 June 2022
12,867,112
8,926,743 21,792,855
Net book value
At 30 June 2022
12167,112
8,925,743 21,792,855
10. Delrtors
2022
Due within one ygar
Other debtors
Prepayments and acuued income
72,014
740
72,754
Page17

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
11. Cr¢ditors: Amounts tslling dug withln on• year
2022
Trade CTeirrtors
Accruals and deferred income
Grants accrued
4,247
13,030
717,395
734,672
12. Credltors: Amounts falling due after more than one yoar
2022
Gr8nts a¢¢Ned
663,104
Page 18

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOO ENDED 30 JUNE 2022
13. Statemont of funds
statement of funds - CUTrent ￿rIOd
Balance at
30 June
2022
Oainsl
IL05ses)
Incomg Expgnditum
Unrnstrictod funds
General Fund8- all fvnds
30,314,967 {2,513,0301 15254.9071 22.547.030
14.
Reconclllatlon of net m0ven￿l in fvnds to nel cash Ilow from operating activltles
2022
Net income for the peiiod {as per Statemtrnl of Financial Activiues)
22,$47,030
Adjustments for.
Donated share8
{29,787,946)
S,245.458
(76051)
(943)
1,397.776
Los$esllgain$l on invosknents
Dividends and interest from investments
Decreasel(increase) in debtors
Increase in creditors
Net cash provided byl(used inl operating activities
{675,4761
15.
AnAty#is of e*•h and ¢a¢h •quival•nt•
2022
Cash In hand
2,079,197
Total cash and cash equivalents
2,079,197
Page 19

THE LAUDERDALE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
16. Analysis of changes in not dèbt
At 30 June
2022
ash flows
Ca¥h at bank and In hand
2,079,197
2,079,197
2.079.197
2,079,197
17. Oporating lease commitfflents
At 30 June 2022 the Charlty had comwnllments to make fuwre mlnlmum lease paym¢1￿ under non-
cancellable operating leases as follows:
2022
Not later than 1 year
10,360
18. R•lated party tr￿SaCtiOnS
The ¢h8rtty ￿¢eNed 8ggregate uncondition81 don8tion$ from trustee$ of £30.238,116.
Thè Charity provided temporary 8ssistsncé to 8 related ¢harity, The Lewin Trust, of vthich M J Kinton and
C lthnton are trustees. At the period end £203 was owed by The Lewn Trust.
Page 20