The Alan Robert Laken Charitable Trust A Charitable Incorporated Organisation Registered Charity Number: 1207968 Report of the Trustees and Financial Statements Year Ended 5 April 2025 Higgs LLP 3 Waterfront Business Park Brierley Hill West Mldlands DY5 ILX
The Alan Robert Laken Charitable Trust Index to the Financial Statements Year Ended 5 April 2025 Page Contents Reference and Administrative Informatlon Trustees, Annual Report statement of Flnanclal Artivities Balance Sheet 10-12 Notes to the Accounts
The Alan Robert Laken Charltable Trust Reference and Administrative Information Year ended 5 April 2025 Governing Document The Charoty is governed by the CIO Foundation Constitution dated 23 April 2024. The Charity's reglstered charity number Is 1207968. Trustees Judith Kay Laken Robert Hugh Laken Philip Oaten 23-Apr-24 23-Apr-24 23-Apr-24 Secretary Ms Klrsty McEwen Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ Solicltors Higgs LLP 3 Waterfront Business Park Brierley Hlll West Midlands DY5 ILX Znvestment Managers Evelyn Partners 103 Colmore Row Birmingham B3 3AG
The Alan Robert Laken Charitable Trust Trustees. Annual Report Year ended 5 April 2025 The Trustees present thelr annual report and flnancial statements of the Charity for the year ended 5 April 2025. The flnanclal statements have been prepared In accordance wlth the accounting policies set out in note I to the accounts and comply with the Charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice applicable to the charities preparing their accounts wlth the Flnancial Reportlng Standard applicable on I January 2019. structure, Governance and Management The Charlty was registered wlth the Charity Commission on 23 April 2024 under registered charity number 1207968, and Is constituted under the CIO Foundation Constitution dated 23 April 2024 ("the Governing Document"). The Charity does not artively fundraise and seeks to contlnue charltable work through the careftsl stewardship of it5 existing resources. The Governing Document provides for a minimum of three Trustees and a maxlmum of six Trustees. Trustees must hold at least one meeting each year, either in person or by sultable electronic means. The quorum at any meeting is at least one third of the total number of Trustees at the time, or two, whichever is the greater. At the Trustee5' meetings, the Trustees agree the broad strategy and areas of activities for the Charity, including consideration of grant making, investment, reserves and risk management policies and perforrnan. The day to day administration of grants and the processlng and handling of applicatlons prior to consideration by the Trustees is delegated to the Secretary. The Trustees would take account of the recommendations of the ICSA best prattl guide 'Recruitment, Appointment and Induction of Charity Trustees, should the need to recruit new Trustees arise. The Trustees would look to recrLJIt in light of an appropriate skills audit of the current Board and taking into account the experience, expertise and diversity of the current Board, as well as their knowledge of the Charity's area of benefit and beneficial class. New Trustees may be sought by open advertisement or through a dialogue with major grant reclplents and local communlty groups respecting the ethos of the Charity to continue the charitable work intended by the settlors, the Trustees actively seek those with a knowledge of the local area when conslderlng any prospective candidate. The ultimate decision on selection is a matter for the Trustees. On appointment new Trustees sign a Trustee Declaration and Undertaking committing them to the giving of thelr time and expertise. It also confirms their ability to act in the role of Trustees. The inductlon process has been changed to follow the ICSA good practlce guide with a formal Indurtion programme for any newly appointed trustee belng led by the Secretary, to include initial training in the grant making process, the duties and responsSbllltles of the Trustees and the role of any sub committees. The welcome pack includes. amongst other Information and guidance, a brief history of the Trust, copy of recent Trustee (and sub committee) minutes, è copy of the last three years of annual reports and accounts, a copy of the Governing Document and a copy of the Charlty Commission's guidance 'The Essential Trustee.. What You Need to Know, and 'Charities and Public 8enefit'. The Trustees intend in the upcomlng year, wlth the support of the Secretary, to developing a code of conduct for Trustees including formal statements of roles and responsibilities and to undertake work on the Charity Governance Code.
The Alan Robert Laken Charitable Trust Trustees. Annual Report Year ended 5 Aprll 2025 All Trustees glve of their time freely and no TrLJStee remuneration was paid in the year. Trustees are entitled to claim reasonable out of pocket expenses and where they do those are noted in the accounts. Trustees are required to disclose annually (and as they arise) any potentlal Interests whlch might conflitt and register them with the seCtary and in accordance with the Charity's written conflicts of Interest pollcy. Rlsk Management The Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and est8blished systems and procedure5 to manage those risks. The major financial risk 15 the variability of investment returns on the portfolio and its impact on income levels and capltal growth. The Trustees have actively sought to manage this risk by appointing Evelyn Partners as Discretionary Managers of the investment portfollo. Thelr role Is to monitor the performance of the portfolio, to take appropriate action to mitigate any loss to the portfolio, and to ensure that the objettives as detailed in the Investment Policy Statement are following and reviewed annually. The major operatlonal risk is the extent to which grants awarded to individuals and charitable or not for proflt organisations advances the objects of the Charity and demonstrate sufficient public benefit. The Charity has managed its rlsk by retalning Trustees of sufficient expertise and experience, and through the quallty of the institutbons and the people who they support. In addition, the Trustees rely on the Secretary to undertake appropriate and proportionate due dlligence on appllcatlons and ensure all grant giving retains a focus on the public benefit. The major regulatory impart of the Common Reporting Standard I'the CRS'}, on the operation of the Charlty. CRS is being an international tax transparency regime aimed at preventing tax evasion. CRS came into force from l January 2016 and the Charity Is now required to provide information about their beneficiaries. tax residency status to HMRC, who will then Share this information with the appropriate tax authority in other jurisdictlons. The Charity is subject to this regime because it relies on investments for more than 50 % of its income and those investrnents are professionally rnanaged by a financi31 institution under discretionary mandate. Thls means the Trustees are requlred to carry out due diligence to establish a tax residency status of all beneficiaries, keep records of efforts to comply with the reglme, register with HMRC as a flnanclal institution {"Financial Institution") if they have reporting requirements and report to HMRC if required. The grant application process is reviewed annually and the grant application form expanded to collect the necessary due diligence information that is required in order to establish tax residency status of all grant recipients, both individuals and charity and not for profit organisatlons. This Includes additlonal Information including tax resident jurisdirtion, tax identification number (for individuals} and entity status (for organlsations). The Trustees will keep thls under revlew. ObSects and Actlvltles for the Public Benefit The objects of the Charity are to advance such charitable purposes {according to the law of England and Wales) as the Trustees see fit from time to time. The Trustees confirm that they have referred to the gUIdan contalned in the Charéty Commlssion's general guldance on public benefit when reviewing the Charity's objects and purpose5 and in planning future activities and settlng the grant making pollcy for the year.
The Alan Robert Laken Charitable Trust Trustees, Annual Report Year ended 5 April 2025 The Trustees have set a Grant Making Policy and review this on an annual basis. This Is available on request. The Trustees have a wide discretion to make grants to charities and for charitable purposes. y focusing on these areas, the Charity achleves its strategic priority of maintaining a stable grant making programme, with balancing support to individuals and to charities and voluntary organisations (for exclusively charitable purposes). Grant Maklng Pollcy The Charity has established its grant making policy to achieve its objects for the public benefit, to improve the Ilves of Indlviduals wlthin the area of benefit. The Trustees review the grant maklng policy annually to ensure it reflects the Charity's objects and thereby adVanS publlc benefit. The Trustees have power to spend or retain both capital and Sncome. Thus both Income and capital is expendable without dlsb'nctlon in furtheran of the objects. The Charity's beneficiarie5 are charitsble organisotions and voluntary organisations (for exclusively charitable purposes). All organisations must demonstrate that the artivitles they undertake advances the public benefit. The general pollcy of the Trustees is not to glve retrospective grants and the Trustees will only consider one application from any applicant. Grant Making Procedure Appllcatlons can only be considered If they are on the Charity's standard application form. The application form must be completed and returned (together wlth a copy of any supportlng information relevant to the application) to the Secretary at least four weeks before the meeting at which the application is to be considered. The Trustees meet once a year to consider applications. It is the policy of the Trustees to consider grants on an equal opportunltles basls, regardless of gender, religion and ethnic background. Public Benefit The Tnjstees conflrm that they have referred to the Information contained in the Charity Commission's general guidance on public benefit when revlewlng the Charlty's objects and activities, their grant making policy and plans for future period. The objerts and activities of the Charity are largely determined by the provisions of the Governing Document, and from there the Trustees exercise a discretion in considering how best to meet the public benefit test and ensure that as many Indlvlduals and charltable and not for profit organisations wlth particular needs wlll gain advantage. Monltorlng and Achlevement The Trustees have continued with an asplratlon to seek a reasonable return over the long term. It is Intended that the portfollo will show a welcomed recovery and that the long tem objectives to meet income needs and grow the capital are obtainable.
The Alan Robert Laken Charitable Trust Trustees. Annual Report Year ended 5 April 2025 Financial Review The Charity's work is entirely lIant on income and investment turnS from its capital. As at 5 April 2025, the value of the capital fund stood at £0. During the year the Incorne of the Charlty was £0. Investment Policy and Performance The investment powers of the Trustees are wide and allow the Trustees to invest funds in any matter (after taking such advice as they consider necessary) and having regard to the suitability of Investments and need for dlversification. The principal investment holdings of the Charity comprise funds and portfolios of quoted securSties. As at 5 April 2025, it Is intended the value will represent IOOO/o of the Charity's investments. The rnanagement of the portfolio Is undertaken on a (Jiscretionary management basls by Evelyn Partners and the wrltten investment policy Is reviewed on at least an annual basis by the Secretary in conjunttion with the investment managers and ultimately approved by the Trustees. The discretionary managers are instructed to maximise the inc0e on the portfolio whilst preserving the capltal, wlthln the constralnts of a medlum rlsk Investment portfollo. Following investment advlce, the Trustees agreed to retaln cash on deposlt with Evelyn Partners for the capbtal account of £0 and for the broker account of £0. Cash in bank with CAF Bank Ltd of £0. Reserv Pollcy The whole of the Charity's capital is exper)dable and this distinction between capital and income is not relevant. The Trustees appreclate that the general prlnclples of charlty law require Trustees to spend their income within a reasonable period of receipt. The Trustees have set and agreed a policy whlch broadly Sdentlfies the framework withln whlch the Charity wlll operate Its reserves. The Intention Is that the Charlty wlll retain an appropriate and reasonable level of reserves whllst concurrently ensuring that It uses the income in a manner that IS Wlthin the objects at the best interests of the Charity and its beneficiarie5, Slnce the Charity receives all of its income from the investment portfolio, the Trustees are mindful that the source of income can be volatlle and subjert to sudden changes in the market, They are concerned that in any year there Is a risk that they cannot meet their ongoing administration and professional expense commltments as and when they arlse, due to any fluctuatlons In the market whlch may prevent or significantly reduce Income. The Trustees have therefore considered, in conjunction with the professional advisers, the level of reserves to retain from surplu5 ur)restricted funds. They have decided to build up a pot of reserves equivalent to one year's adminlstratlve and professlonal expenses but excludlng grant commitmerbts. This will ensure that should there be any fluctuations in the rnarket which reduce the income available for Lfjistribution, the Charity can use Its reserves to continue to meet its obligations and liabilities as and when they fall due. Plan for Future Periods The Trustees believe their grants will translate into significant public benefit. In cementing the arrangements already i n place, and beginning with its activities as set out in this report, so that the many and varled charitable and not for profit organisations, and Indivlduals may continue to benefit in real terms from its financial support, the Charity aims to provide a long tem) commltment and thereby encourage and support individuals and charitable and not for profit organisations.
The Alan Robert Laken Charitable Trust Trustees. Annual Report Year ended S April 2025 The Intention is to establish a programme of grant giving which will translate into slgnificant public benefit. The Trustees will focus on those individuals and organisations who would benefit in real terms (impact) from its flnancial support, thus providing and ensuring a longer- term commitment to 5UPPOrt. Tru$tees' Responsibilities in Relation to the Financlal Statements The Trustees are responsible for preparing the Trustees, Report and the financial statements In accordance with applicable law and regulations and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requlred the Trustees to glve a true and fair view of the state of affairs of the Charity and of the incoming resource5 and application of resources, including income and expenditure of the Charity for that period. In preparlng these flnancial statements, the Trustees are required to.. •Éèlert suitable accounting policies and then apply them consistently; •6bserve the methods and principle5 of the Charities SORP; •ake judgements and estimates that are reasonable and prudent- •Étate whether appllcable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and .epare the financial statements on the golng concern basis unless It Is Inapproprlate to presume that the Charity wlll contlnue in operation. The Trustees are responsible for keeping adequate accountlng records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financlal position of the Charlty and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports} Regulatlons 2008 and the Governing Document. They are also responsible for safeguarding the asset5 of the Charity and hence for taklng reasonable steps for the prevention and detertlon of fraud any other irregularitie5. The Trustees are responsible for the maintenance and Integty of the Charlty and financial information Included on the Register of Charitie5. Approved by the Trustees and signed on their behalf by: Mlss J K Laken Chair
The Alan Robert Laken Charitable Trust statement of Financial Activities Year ended 5 April 2025 Notes Unrestricted Fund$ Total Funds 2025 2024 Income resources: Income resources from generated funds Total Incomlng resources Resources expended: Investment management tosts Charitable actlvitles Cost of grant making Governance costs Total resources expended Net loutgoing)/incoming resources before other recognised gains and losses Realised gainsl{losses) on investment assets Unrealised gains/{losses) on investment assets Net movement In funds Reconciliation of funds Total funds brought forward Total funds carrled forward
The Alan Robert Laken Charitable Trust Balance Sheet Year ended 5 April 2025 Notes Unrestricted Funds Total Funds 2025 2024 Fixed Assets Investrnents Total Fixed Assets Current Assets Cash with bank and investment managers Debtors Total current assets Liabi1Stles Creditors falling due within one year Net current a55ets Total asset5 less current liabilities Creditors falllng due after more than one year N¢t asset$ The funds of the Charity Vnrestrlcted Income funds Total Charity funds The notes on pages 10 to 12 form a part of these accounts. Approved by the Trustees and signed on their behalf by.. Miss J K Laken Chair
The Alan Robert Laken Charitable Trust Notes to the accounts Year ended 5 April 2025 l. Accounting policies {al Basis of preparatlon The ffinancial statements have been prepared under the historic cost convention, with the exception that investments are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended prattl.. Accounting and Reportino by Charities (FRSEE) issued in January 2015 and applicable UK Accounting Standards and the Charities Act 2011. Ib) Funds strncturn The Charity has one fund, an unrestrlcted Income fund. Thls is a fund which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestrirted funds include designated fLsnds where the Tru5tee5, at their discretion, have created a fund for a specific purpose. (c} Incomlng resources All incoming resources are recognised once the Charity has entitlement to the resources, it is rtain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. {d) Expenditure on raising funds Liabilities are recognised as reSoUrS expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants payable are payments made to charitable organisations in the furtherance of the charitable objects of the trust. Single or multi-year grants are accounted for vyhen either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Charity. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of the grant payable. {el Expenditure on generating funds The costs of generating funds consists of investment management fees, legal fees, accountancy fees and other governance and regulatory fees. (f) Charitsble activities The cost of charitable actlvities includes grants made. Ig) Governance costs Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the preparatlon of the accounts, the independent examination fee and legal fees. {h) Fixed asset investment Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gain and losses arising on revaluation and disposals throughout the year. li) Reallsed galns and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gabns and losses on investments are calculated as the dbfference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between and market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities. 12
The Alan Robert Laken Charitable Trust Notes to the accounts Year ended 5 April 2025 (j) Contlngent Ilabllltles and provisions In accordance with the SORP, a contingent liability is disclosed for those grants, which do not represent lièbilities, where the possible obligation, which arises from past events, will only be confirmed by the occurrence of one or more uncertain future events not wholly within the Trustees, control. Provisions are recognised for those grants where there is uncertainty as to the timing or amount, and any uncertainty regarding the amount is more than one of determinin9 a basis for reasonable estimation of the Iiabllity arlsing from that constructive obligation. 2. Related party transactlons and Trustees. remuneration There were no related party transactions or Trustees, remuneration pald for the flnancial year ending 5 April 2025. 3. Investment income 2025 2024 Dividends - UX equitities Dividends - Non-UK equities Interest - UK fixed interest securitie5 Interest on cash deposits Interest - Non-UK fixed interest securities 4. Investment Manager'$ costs 2025 2024 Evelyn Partners LEI Fees 5. Analysis of charitable expenditure The Charity undertakes its charitable activities through grant making and awarded grants to a number of organisations In furtheran of its charitable activities. Grant funded actlvltles: 2025 2024 Total 6. Governance costs 2025 2024 Independent examination fee Bank charyes Legal fees- Administration Accounts preparation VAT
The Alan Robert Laken Charitable Trust Notes to the accounts Year ended 5 April 2025 7. Fixed asset Investments Movement In flxed asset Investments Market value as at 5 April 2024 Additions to investments at cost Disposals at carrying value Net gain/{loss) on revaluation Net movement on cash Market value as at 5 April 2025 Investments at market value comprlsed: 2025 2024 Equities Fixed interest securities Cash held within portfolio Total 8. Analysls of current Ilabllltltes and lon9 terni creditors Creditors under l year Legal fees VAT thereon Independent examlner's fee 12