2024-04-05-accounts - The Edgar E Lawley Foundation

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REGISTERED CHARITY NUMBER: 201589

Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2024 for EDGAR E LAWLEY FOUNDATION

EDGAR E LAWLEY FOUNDATION

Contents of the Financial Statements for the year ended 5 April 2024

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	6
Report of the Independent Examiner		7
Statement of Financial Activities		8
Balance Sheet		9
Notes to the Financial Statements	10	to	12
Detailed Statement of Financial Activities		13

EDGAR E LAWLEY FOUNDATION

Reference and Administrative Details for the year ended 5 April 2024

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 2024

The trustees present their report and accounts for the year ended 5 April 2024.

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 £2,000 per successful applicant..

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 2024

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
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 during the period August to October inclusive each year.

The Foundation's grants are normally wholly unrestricted to allow grantees maximum flexibility. Grants of £2,000 each amounting to £200,000 were made, during the year, to the following 100 organisations selected from in excess of 1,200 applications:

1	ABC to read
2	Action on Pre-eclampsia
3	AGE UK Solihull
4	Al's Pals
5	Axis Educational Trust
6	Being The Cure
7	Bipolar UK
8	Birmingham City Mission
9	Black artists on the move
10	Bliss
11	Bolton Lads & Girls Club
12	Brain Tumour Support
13	Build on Belief
14	Cancerwise
15	Careplus
16	Chasdei Sholom
17	Chesed Car Transport
18	Child Brain Injury Trust
19	Circle Community
20	ClearVision Project
21	Core Clapton
22	Creating Community Space
23	Crohns & Colitis Relief
24	Deaflinks Staffordshire
25	Derbyshire Community Health Service
26	Dogs for Good
27	East Anglia's Children's Hospices
28	Eastbourne Eco Action Network
29	Elizabeth House Cookham
30	Fire Ministries International Church
31	Gilgal Birmingham
32	Give. Help. Share.
33	Headway Birmingham & Solihull
34	Headway Sussex
35	Healthbus Trust
36	Home Start Birmingham North
37	Hospice in the Weald

EDGAR E LAWLEY FOUNDATION

Report of the Trustees (continued) for the year ended 5 April 2024

38	Human Rights Solidarity
39	Improving Lives Notts
40	Independent Arts
41	Insight Counselling, Coaching Services
42	InterActive Whitby and District
43	Isse
44	Kingstanding Regeneration Trust
45	Learning Partnership West
46	Lewis-Manning Hospice Care
47	Life and Soul Youth Work
48	Lifeskills Learning for Living
49	Made for More NI
50	Maidenhead Festival
51	Making a Difference to Maidstone
52	Mental Health Independent Support Team
53	Mind and Soul Community Choir
54	Motus
55	My Time Young Carers
56	NHS Pensioners Trust
57	Noah's Ark Children's Venture
58	North-West Pre-hospital Critical Care Charity
59	Northern Ireland Hospice
60	Omega, The Nat. Assoc. for End-of-Life Care
61	Open House (Christian Outreach) Trust
62	Outfit Moray
63	Pets in Need Herts
64	Prodigal Bikes
65	Quest for Learning
66	Rainbow Trust Children's Charity
67	Redditch & Bromsgrove Talking Newspaper
68	Sanctuary Scotland
69	Revive FM
70	Riding for the Disabled Association
71	Rising Stars Young People Services
72	Roald Dahl's Marvellous Children's Charity
73	Roam
74	Scope
75	Seachange Devon
76	Sexpression:UK
77	Shape
78	Side by Side (Children)
79	Spectra
80	St Peter & St James Hospice
81	St Richard's Hospice
82	Tarka Child Contact Centre
83	The Alice Cross Centre
84	The Home at School Association
85	The Jericho Foundation
86	The Old Mill Foundation
87	The Shack Food project
88	The Shakespeare Hospice
89	The Winchester Project
90	Totally Local Lancaster
91	Tube Station
92	Veterans' Growth
93	Walsall Society for the Blind
94	Warwickshire Young Carers
95	Wellbeing of Women
96	Wingate Special Children's Trust
97	Woodgate Valley Urban Farm
98	Yorkshire Dance
99	Young Lives vs Cancer
100	Young People First
		4

EDGAR E LAWLEY FOUNDATION

Report of the Trustees (continued) for the year ended 5 April 2024

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 2024 (including cash held for investment) totalled £4,170,667 compared with a total value of £4,461,880 at 5 April 2023.

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 broadly 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 £200,000 (2022/23) - £229,500).

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 2024

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 26[th] July 2024. and signed on its behalf by:

....................................................................

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 2024 set out on pages 8 to 12.

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.

Miriam Hickson CTA FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW

Date:

EDGAR E LAWLEY FOUNDATION

for the year ended 5 April 2024

Statement of Financial Activities

Unrestricted Fund £ Income and endowments from Investment income 4 195,382 Expenditure Raising funds Charitable activities 5 (1,158) (212,697) Net gains/(losses) on investments (13,584) NET INCOME/(EXPENDITURE) AND NET MOVEMENT ON FUNDS (32,057) Reconciliation of funds Total funds brought forward 254,581 Total funds carried forward 222,524 __	Restricted Fund £ 2024 Total funds £ Unrestricted Fund £ - 195,382 214,451 (19,340) - (20,498) (212,697) (858) (241,622) (226,846) (240,430) (31,420) (246,186) (278,243) (59,449) 4,209,581 4,464,162 314,030 3,963,395 ___ 4,185,919 ____ *254,581* ____	Restricted Fund £ 2023 Total Funds £ - 214,451 (15,906) - (16,764) (241,622) (582,245) (613,665)) (598,151) (657,600) 4,807,732 5,121,762 *4,209,581* _____ *4,464,162* _____

EDGAR E LAWLEY FOUNDATION

Balance Sheet as at 5 April 2024

Fixed assets Investments 7 Current assets Cash at bank Creditors Amounts falling due within one year 8 Net current assets/(liabilities) Total assets plus/minus current assets/liabilities NET ASSETS Funds Unrestricted funds Restricted funds Total funds	Unrestricted Fund £ 207,272 17,002 (1,750) _ 15,252 _ 222,524 __ £222,524	Restricted Fund £ 3,963,395 - - _ - _ 3,963,395 __ £3,963,395	2024 Total funds £ Unrestricted Fund £ 4,170,667 252,299 17,002 3,482 (1,750) (1,200) _ _ 15,252 2,282 __ _ 4,185,919 254,581 __ __ £4,185,919 254,581 222,524 3,963,395 ____ £4,185,919	Restricted Fund £ 4,209,581 - - _ - _ 4,209,581 ___ 4,209,581	2023 Total Funds £ 4,461,880 3,482 (1,200) _ 2,282 _ 4,464,162 ______ 4,464,162
					254,581 4,209,581 __ 4,464,162

The financial statements were approved by the Board of Trustees and authorised for issue on the 26[th] July 2024 and were signed on its behalf by:

----------------------------------------------- 9

J.H. COOKE - TRUSTEE

EDGAR E LAWLEY FOUNDATION

Notes to the Financial Statements for the year ended 5 April 2024

1. Charity information

Edgar E Lawley Foundation is an unincorporated charity (Registration number: 201589) operating throughout the United Kingdom. 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 2024

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	2024 £ 194,811 571 195,382 2024 £ 27,452 200 ,000 227,452 3,993 1,750 233 ,195	2023 £ 214,243 208 214,451 2023 £ 24,045 229 ,500 253,545 3,641 1 ,200 258 ,386	2023 £ 214,243 208 214,451 2023 £ 24,045 229 ,500 253,545 3,641 1 ,200 258 ,386
			253,545 3,641 1 ,200 258 ,386

5. Expenditure

EDGAR E LAWLEY FOUNDATION

Notes to the Financial Statements - continued for the year ended 5 April 2024

6. Related party transactions

Mr F S Jackson OBE FCCA, a trustee, received fees during the year amounting to £9,000 (2023: £9,000) in respect of professional work for the Foundation, not related to his duties as a trustee. The payment of fees to a trustee in those circumstances is permitted by the Foundation`s trust deed.

During the year, expenses amounting to £1,208 (2023: £1,275) 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 2023	4,461,880
Additions at market value	289,249
Disposals at market value	(302,471)
Losses on revaluation	(239,238)
Changes in cash funds	(38,753)
At 5 April 2024	4,170,667
Net book value
At 5 April 2024	4,170,667
At 5 April 2023	4,461,880

Notes: There were no investment assets held outside the UK. The above investments have at 5 April 2024 a book (historical) value of £4,073,088 . All equity investments are measured at fair value through statement of financial activities.

8. Creditors: amounts falling due within one year

8. Creditors: amounts falling due within one year
	2024	2023
	£	£
Other creditors and accruals	1,750	1,200

EDGAR E LAWLEY FOUNDATION

Detailed Statement of Financial Activities for the year ended 5 April 2024

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 £ 194,811 571 _ 195,382 _ 195,382 1,158 6,954 200,000 _ 208,112 3,993 1,750 _ 213,855 _ (18,473) (67) (13,517) (32,057)	Restricted Fund £ __ - ___ - 19,340 - 19,340 - - _ 19,340 ------------ (19,340) (1,125) (225,721) (246,186)	2024 Total funds £ 194,811 571 _ 195,382 _ 195,382 20,498 6,954 200,000 _ 227,452 3 ,993 1,750 ___ 233,195 _ (37,813) (1,192) (239,238) (278,243)	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_ _ 214,541 16,764 7,401 229,500 _ 253,665_ 3,521 1,200 _ _258,386 _ (43,935) (168,972) (444,693)
						(657,600)

This page does not form part of the statutory financial statements.