REGISTERED CHARITY NUMBER: 201589
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2023 for EDGAR E LAWLEY FOUNDATION
EDGAR E LAWLEY FOUNDATION
Contents of the Financial Statements for the year ended 5 April 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 7 |
| Report of the Independent Examiner | 8 | ||
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Notes to the Financial Statements | 11 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
EDGAR E LAWLEY FOUNDATION
Reference and Administrative Details for the year ended 5 April 2023
| Trustees | J H Cooke (Chairman) |
|---|---|
| F S Jackson OBE | |
| P J Cooke | |
| L L Cooke | |
| K A Coates | |
| Principal address | PO Box 456 |
| Esher | |
| Surrey | |
| KT10 1DP | |
| Registered charity number | 201589 |
| Independent Examiner | Miriam Hickson CTA FCA |
| Jacob Cavenagh & Skeet | |
| 5 Robin Hood Lane | |
| Sutton | |
| Surrey | |
| SM1 2SW |
EDGAR E LAWLEY FOUNDATION
Report of the Trustees for the year ended 5 April 2023
The trustees present their report and accounts for the year ended 5 April 2023.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), effective 1 January 2019.
Objectives and activities Objectives and aims
The primary objects of the Foundation as set out in the trust deed are:
a) the advancement of medicine and surgery including the promotion of medical education and research and the provision of medical treatment and aid and comforts and facilities for the sick.
b) the relief and assistance of the aged and poor and
c) educational purposes.
but subject thereto, the trustees are empowered to hold the Trust Fund and the income thereof upon trust to pay or apply such income to or for such charitable purposes as they may in their absolute discretion think fit and it is the present aim of the trustees to assist smaller charities engaged in the kinds of activities mentioned below under the heading Grantmaking.
The aims of The Edgar E. Lawley Foundation are for general charitable purposes with reference to medicine, to necessitous elderly persons, and to educational purposes with reference to the arts, commerce, and industry.
Its area of benefit is undefined within the United Kingdom and grant applications are welcome, in accordance with the Foundation’s published grant application procedure, from any Registered Charity or Not for Profit organisations within the United Kingdom. The Foundation will not consider applications for grants from and on behalf of private individuals.
The Foundation maintains a preference for awarding unrestricted grants to smaller charities and in an attempt to assist as many organisations as financially practicable has in recent years tended to award grants of a set amount to each successful applicant. The current amount of grant is £1,500.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The trustees believe that in providing grants to the organisations listed below, help is ultimately being provided to a significant proportion of the general population.
EDGAR E LAWLEY FOUNDATION
Report of the Trustees (continued) for the year ended 5 April 2023
Objectives and activities Grantmaking
The Foundation receives more applications than it can fund and uses six broad areas to ensure balance in its grant giving programme.
Those areas are -:
-
Hospices
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Children and Young People
-
Elderly
-
Community
5. Disabled
- Medical, Research and other Miscellaneous projects
The trustees require applications to be made via the Foundation's Online Grant Application Form available on its website https://www.edgarelawleyfoundation.org.uk
The Foundation's grants are normally wholly unrestricted to allow grantees maximum flexibility. Grants of £1,500 each amounting to £229,500 were made, during the year, to the following 153 organisations:
1 The Mary Stevens Hospice
2 Royal Trinity Hospice
- 3 St. Giles Hospice
4 South Bucks Hospice
5 Katherine House Hospice
- 6 Wessex Children’s Hospice
7 Ty Hafan Children’s Hospice
8 Acorns Children’s Hospice
9 Compton Care
10 Happy Days Children’s Charity 11 RicNic 12 Home-Start High Peak 13 Norfolk Family Carers 14 The Gap (Sutton Coldfield) 15 Sandwell Asian Development Association
16 Teenage Cancer Trust 17 Life Chance Trust 18 Kids UK 19 Go Beyond 20 Safeline 21 Clothing Coventry 22 Home-Start Hampshire 23 Home-Start West Berkshire 24 Young Carers Development Trust 25 Kids Come First 26 The Playhouse (Birmingham) 27 Birmingham Royal Ballet 28 Papatango Theatre Company 29 Bentley Beginnings 30 Kids Cancer Charity 31 Social Square (UK) 32 Rainbow Youth Centre 33 Youth Space 34 Young Epilepsy 35 Treloar Trust 36 Ruddi’s Retreat 37 Citywise Mentoring 38 Young & Inspired
EDGAR E LAWLEY FOUNDATION
Report of the Trustees (continued) for the year ended 5 April 2023
Objectives and activities
39 Blueprint Youth UK 40 Helpful Hounds Assistance Dogs 41 Cyclists Fighting Cancer 42 Royal Scottish National Orchestra 43 Noah’s Ark Children’s Venture 44 Harmony Youth Project 45 St. Margaret’s House 46 Sunshine Wishes Children’s Charity 47 Little Green Pig 48 Mimbre 49 Icon Theatre 50 Storyhouse 51 You Can Flourish 52 My Big Career 53 Wilton Baptist Church 54 Children with Cystic Fibrosis Dream Holidays 55 Portsmouth Sail Training Trust 56 Warwickshire Young Carers 57 The Social Mobility Foundation 58 Teapot Trust 59 Kingswood Trust 60 Castle Point Social Car Scheme 61 Without Walls Christian Fellowship 62 Motor Neurone Disease Association 63 Equal Arts 64 Sandwell Citizen Advocacy 65 NODA (Nobody Dies Alone in Ayrshire) 66 NHS Pensioners Trust 67 Home from Hospital Care 68 Birmingham Settlement 69 Cuppa Squad 70 Age UK Birmingham 71 Ezra Umarpeh 72 St. Andrew’s Church Lunch Club 73 Age UK Solihull 74 Community Lives Matter 75 Ryders Green Methodist Day Centre 76 The Giving Hands Mission 77 Community Centre for Refugees 78 Brighter Together 79 4Sight Vision 80 Age UK Bexley 81 Dudley Crossroads 82 St. Mark’s Community Hub 83 Five Lamps 84 Birmingham Open Spaces Forum 85 Heart of Tamworth Community Project 86 LawWorks 87 Refugee Survival Trust 88 St. Anne’s Hostel 89 Oakleaf Enterprise 90 Humanity Gives 91 Supporting Lives 92 Friends of Cotteridge Park 93 Gilgal Birmingham 94 Migrateful 95 The Old Vic Theatre Trust 2000 96 Becoming Families 97 Friends of Bournville Park 98 Pan Together 99 Selsey Community Forum 100 Random Opera Company
EDGAR E LAWLEY FOUNDATION
Report of the Trustees (continued) for the year ended 5 April 2023
Objectives and activities
101 Bournemouth Foodbank 102 Zinthiya Trust 103 Erasmus Darwin Foundation 104 Windmill Community Church 105 Community Money Advice South Wiltshire 106 Mother to Mother 107 The Cracked Slipper Company 108 CHEXS 109 Birmingham Opera Company 110 Samaritans Brierley Hill 111 Veterans Outdoors 112 Simple Norfolk 113 Newbiggin Community Trust 114 Headway Birmingham & Solihull 115 Haworth Riding for the Disabled Group 116 Air Ambulance Charity Kent, Surrey & Sussex 117 The Meath Epilepsy Charity 118 Walsall Society for the Blind 119 The Brainwave Centre 120 Second Chance Stroke Club 121 The Myriad Centre 122 Warwickshire Wheelchair Basketball Academy 123 Community at Linden Lodge 124 Steps Conductive Education Centre 125 Devon in Sight 126 Dogs for Good 127 The Royal National College for the Blind 128 Muscular Dystrophy Support Centre 129 Parkinson’s UK 130 Crohn’s & Colitis UK 131 Asperger’s East Anglia 132 North East Dementia Care 133 Douglas Bader Foundation 134 Pain Concern 135 The Garwood Foundation 136 The Wingate Children’s Trust 137 Listening Books 138 East Liverpool Riding for the Disabled 139 Royal Hospital for Neuro-Disability 140 Dog Assistance in Disability 141 PostAbility 142 Staffordshire Sight Loss 143 Diabetes UK 144 Macular Society 145 Twins Trust 146 Kidney Care UK 147 Wellbeing in Women 148 Care for Carers 149 Prostate Cancer Research 150 The Mulberry Centre 151 Prostate Cancer UK 152 The Brain Tumour Charity 153 Retina UK
EDGAR E LAWLEY FOUNDATION
Report of the Trustees (continued) for the year ended 5 April 2023
Achievement and performance
Investment performance
The Foundation's investments comprise quoted stocks most of which are within the FTSE 100 & 250 indices. The investment policy of the trustees is to achieve a balanced portfolio with the aim of securing a reasonable level of income and a degree of capital appreciation. The investments are managed on a discretionary basis by EFG Harris Allday.
The market value of quoted stocks held at 5 April 2023 (including cash held for investment) totalled £4,461,880 compared with a total value of £5,122,832 at 5 April 2022.
Financial review
Principal funding sources
The Foundation's principal funding source is income from its portfolio of investments.
Reserves policy
The capital settled on the Foundation by the Founder, adjusted by net gains on investments, is treated as restricted from which only the income arising therefrom can be spent. The unrestricted funds available to the Foundation have arisen solely from previous years undistributed income. The trustees aim to maintain a consistent level of grant distribution each year and having regard to variable factors such as fluctuating investment returns have used their unrestricted funds, as a reserve, to achieve that consistency. The trustees will, at a future date, reconsider their current decision not to adopt a Total Return approach to their investment management.
The Foundation awarded grants during the year of £229,500 (2021/22) - £231,000).
Future plans
The Foundation intends to continue with its well-established annual grants programme. The Foundation will continue to monitor and adapt its programme of grants to ensure that its funds are used to best effect.
Structure, governance and management
Governing document
The Edgar E. Lawley Foundation is a grant giving Charitable Foundation founded in 1961 by a gift from the late Edgar E Lawley (1889 - 1977) and is controlled by its governing document, a deed of trust. It is an unincorporated charity.
The trustees who served during the year were:
K A Coates J H Cooke - Chairman L L Cooke P J Cooke F S Jackson OBE – Administrative Trustee
Organisational structure
The charity has no staff. The day to day running of the charity is dealt with by the Administrative Trustee. The trustees collectively make all decisions.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the Foundation to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and induction procedures.
Related parties
Details of transactions with trustees and related parties are given in the note 6 to the financial statements.
Risk management
The trustees have assessed the major risks to which the charity is exposed and are satisfied systems are in place to mitigate exposure to the major risks.
EDGAR E LAWLEY FOUNDATION
Report of the Trustees (continued) for the year ended 5 April 2023
Statement of trustees' responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, FRS 102 and the Charities Act 2011 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with FRS 102 and the Charities Act 2011, and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 28[th] July 2023. and signed on its behalf by:
J H Cooke
.................................................................... J H Cooke – Chairman of Trustees
Report of the Independent Examiner to the Trustees of Edgar E Lawley Foundation
Independent examiner’s report to the trustees of Edgar E Lawley Foundation
I report to the charity trustees on my examination of the accounts of the Edgar E Lawley Foundation (the Foundation) for the year ended 5 April 2023 set out on pages 9 to 13.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Foundation’s accounts as carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Foundation as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M. Hickson
Miriam Hickson CTA FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW
Date:
EDGAR E LAWLEY FOUNDATION
Statement of Financial Activities
for the year ended 5 April 2023
| Note Unrestricted Fund £ Income and endowments from Investment income 4 214,451 Expenditure Raising funds Charitable activities 5 (858) (241,622) Net gains/(losses) on investments (31,420) NET INCOME/(EXPENDITURE) AND NET MOVEMENT ON FUNDS (59,449) Reconciliation of funds Total funds brought forward 314,030 Total funds carried forward 254,581 __ |
Restricted Fund £ 2023 Total funds £ Unrestricted Fund £ - 214,451 205,707 (15,906) - (16,764) (241,622) (242,596) (582,245) (613,665) 24,027 (598,151) (657,600) (12,862) 4,807,732 5,121,762 326,892 4,209,581 ___ 4,464,162 ____ 314,030 ____ |
Restricted Fund £ 2022 Total Funds £ - 205,707 - (242,596) 366,668 390,695 366,668 353,806 4,441,064 4,767,956 4,807,732 _____ 5,121,762 _____ |
|---|---|---|
EDGAR E LAWLEY FOUNDATION
Balance Sheet as at 5 April 2023
| Note Fixed assets Investments 7 Current assets Cash at bank Creditors Amounts falling due within one year 8 Net current assets/(liabilities) Total assets less current liabilities NET ASSETS Funds Unrestricted funds Restricted funds Total funds |
Unrestricted Fund £ 252,299 3,482 (1,200) _ 2,282 _ 254,581 __ 254,581 |
Restricted Fund £ 4,209,581 - - _ - _ 4,209,581 __ 4,209,581 |
2023 Total funds £ Unrestricted Fund £ 4,461,880 315,100 3,482 130 (1,200) (1,200) _ _ 2,282 (1,070) __ _ 4,464,162 314,030 __ __ 4,464,162 314,030 254,581 4,209,581 ____ 4,464,162 |
Restricted Fund £ 4,807,732 - - _ - _ 4,807,732 ___ 4,807,732 |
2022 Total Funds £ 5,122,832 130 (1,200) _ (1,070) _ 5,121,762 ______ 5,121,762 |
|---|---|---|---|---|---|
| 314,030 4,807,732 __ 5,121,762 |
The financial statements were approved by the Board of Trustees and authorised for issue on 28[th] July 2023 and were signed on
its behalf by:
J H Cooke
J .H.COOKE - TRUSTEE
EDGAR E LAWLEY FOUNDATION
Notes to the Financial Statements for the year ended 5 April 2023
1. Charity information
Edgar E Lawley Foundation is an unincorporated charity (Registration number: 201589) operating throughout England and Wales. The registered office is PO Box 456, Esher, Surrey, KT10 1DP.
2. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)', Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost as modified by the revaluation of investments.
The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts are rounded to the nearest £.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, and it is probable that the income will be received and the amount can be measured reliably.
Investment income is stated on a receivable basis. Realised gains and losses arising on disposal of investments are separately identified in the Statement of Financial Activities.
Cash and Bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Creditors
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
EDGAR E LAWLEY FOUNDATION
Notes to the Financial Statements (continued) for the year ended 5 April 2023
2. Accounting policies (continued)
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Investments
Investments are stated at fair value at the balance sheet date. All movements in value arising from investment changes or revaluation are included in the statement of financial activities. Gains or losses on investments are calculated as the difference between the disposal proceeds and the carrying value.
Going concern
There are no material uncertainties about the charity’s ability to continue its operations.
3. Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4. Investment income
| Dividends from listed investment Deposit account interest Expenditure Charitable activities Administration expenses Grants to institutions Support costs Governance costs Examiner’s remuneration |
2023 £ 214,243 208 214 ,451 2023 £ 24,045 229 ,500 253,545 3,641 1 ,200 258 ,386 |
2022 £ 205,700 7 205 ,707 2022 £ 6,931 231 ,000 237,931 3,465 1 ,200 242 ,596 |
2022 £ 205,700 7 205 ,707 2022 £ 6,931 231 ,000 237,931 3,465 1 ,200 242 ,596 |
|---|---|---|---|
| 237,931 3,465 1 ,200 242 ,596 |
5. Expenditure
EDGAR E LAWLEY FOUNDATION
Notes to the Financial Statements - continued for the year ended 5 April 2023
6. Related party transactions
Mr F S Jackson OBE FCCA, a trustee, received fees during the year amounting to £9,000 (2022: £9,000) in respect of work for the Foundation, not related to his duties as a trustee. The payment of fees to a trustee is permitted by the Foundation`s trust deed.
During the year, expenses amounting to £1,275 (2022: £1,000) were reimbursed to one trustee wholly in respect of disbursements made for costs incurred wholly on behalf of the Foundation. There are no other related party transactions.
The Trust has no employees.
7. Fixed asset investments
| Fixed asset investments | |
|---|---|
| Listed | |
| investments | |
| Market value | |
| At 6 April 2022 | 5,122,832 |
| Additions at market value | 909,964 |
| Disposals at market value (Proceeds £984,566, realised losses £168,972) | (1,153,538) |
| Unrealised losses | (444,693) |
| Changes in cash funds | 27,315 |
| At 5 April 2023 | 4,461,880 |
| Net book value | |
| At 5 April 2023 | 4,461,880 |
| At 5 April 2022 | 5,122,832 |
Notes: There were no investment assets held outside the UK. The above investments have at 5 April 2023 a book (historical) value of £4,115,983 . All equity investments are measured at fair value through statement of financial activities.
8. Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other creditors and accruals | 1 ,200 |
1 ,200 |
EDGAR E LAWLEY FOUNDATION
Detailed Statement of Financial Activities for the year ended 5 April 2023
| Income and endowments Dividends from listed investments Deposit account interest Total income Expenditure Raising funds Investment management fees Charitable activities Administration costs Grants to institutions Support costs Governance costs Examiner’s remuneration Total expenditure Net (expenditure)/income before gains and losses Recognised gains and losses Realised gains/(losses) on investments Unrealised gains/(losses)on investments NET INCOME/(EXPENDITURE) |
Unrestricted Fund £ 214,243 208 _ 214,451 _ 214,451 858 7,401 229,500 _ 237,759 3,521 1,200 _ 242,480 _ (28,029) (8,651) (22,769) (59,449) |
Restricted Fund £ __ - ___ - 15,906 - 15,906 - - _ 15,906 ------------ (15,906) (160,321) (421,924) (598,151) |
2023 Total funds £ 214,243 208 _ 214,451 _ 214,451 16,764 7,401 229,500 _ 253,665 3 ,521 1,200 ___ 258,386 _ (43,935) (168,972) (444,693) (657,600) |
Unrestricted Fund £ 205,700 7 _ 205,707_ ______ 205,707 - 6,931 231,000 _ 237,931_ 3,465 1,200 __ 242,596 __ (36,889) 2,795 21,233 (12,862) |
Restricted fund £ _ -_ _ - - - _ - - -_ _ -_ ___ - 42,652 324,015 366,668 |
2022 Total Funds £ 205,700 7 _ 205,707_ _ 205,707 - 6,931 231,000 _ 237,931_ 3,465 1,200 _ _242,596 _ (36,889) 45,447 345,248 |
|
|---|---|---|---|---|---|---|---|
| 353,806 |
This page does not form part of the statutory financial statements.