**REGISTERED CHARITY NUMBER: 205043**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FOR**
**ST LAURENCE RELIEF IN NEED TRUST**
**ST LAURENCE RELIEF IN NEED TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 to 14|
## **ST LAURENCE RELIEF IN NEED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The primary objective of the charity is to apply the annual income after management expenses for financial assistance, either generally or individually, to those people residing in the Ancient Parish of St. Laurence, Reading, who face conditions of need, hardship or distress. Where the net annual income is not required for the primary objective, the Trustees may apply it in a similar manner to those people residing in the County Borough of Reading.
The charity invites applications for financial assistance from people residing in either the Parish of St. Laurence or County Borough of Reading and from charitable or other organisations for the benefit of such people.
The trustees have referred to guidance set out by the Charity Commissioner's and are satisfied that the charitable objectives of the charity and its related charities satisfy criteria for public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year the charity made donations and grant awards of £58,383 (2020 - £69,024) in total for the benefit of 40 organisations and 3 individuals.
## **Investment performance**
The endowment fund fixed assets comprise a modest portfolio of listed investments. The return on listed investments was in line with expectation for the investment strategy and risk profile of the charity.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
There are no restrictions on the trustees' power to invest the assets the charity. Listed investments are low risk and held in managed investment funds with a bias towards providing income.
## **Principal funding sources and reserves policy**
The principal funding source is from related charity, Church Lands and John Johnson's Estate Charities (charity no. 205043). Annual income may vary depending on the investment performance of the related charity's endowment fund.
The trustees maintain unrestricted cash reserves at a level equivalent to one year's expenditure to ensure sufficient cash is available to fund charitable distributions arising in the first quarter of the next financial year.
Page 1
## **ST LAURENCE RELIEF IN NEED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document and trusteeship**
The St. Laurence Relief in Need Trust is an unincorporated charity governed by a deed of trust dated 1 January 1942.
The body of the trustees comprise three ex-officio trustees, two representative trustees and up to four co-opted trustees. The vicar and churchwardens for the time being of St. Laurence Church, Reading are the ex-officio trustees and representative trustees are appointed by Reading Borough Council.
## **Recruitment, appointment and induction of new trustees**
Trustees are carefully selected for their knowledge and experience of charitable organisations. New trustees are elected at the Annual General Meeting. Newly appointed trustees are inducted to the work of the charity by the chairman and provided with all information required to fulfil their role as trustees in accordance with the deed of trust and the Charities Act 2011. A trustee may retire voluntarily.
## **Organisational structure**
The Chairman, Rev C R Jones, has overall responsibility for the charity and is assisted in this role by the Clerk. The Treasurer is responsible for the financial management of the charity. The charity engages a firm of chartered surveyors to manage property investments, stockbrokers to manage listed investments and lawyers to advise on legal matters.
## **Trustee meetings**
Trustee meetings are held twice a year, one of which is the Annual General Meeting.
## **Risk management**
The trustees acknowledge their responsibility to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
205043
## **Principal address**
Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
## **Trustees**
Mrs P Thomas Mrs R P Williams Mr N C Burrows Dr R A L Macleod (resigned 18.5.21) Mrs R E Pearse Rev C R Jones Dr N A Brown Mr L R Smith (appointed 4.7.21)
Page 2
**ST LAURENCE RELIEF IN NEED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Graeme Hobbs FCCA Chartered Certified Accountant Hobbs Granger Roitt LLP 8f Millars Brook Molly Millars Lane Wokingham Berkshire RG41 2AD
## **Chairman**
C R Jones
## **Treasurer**
J Pyke FCA
## **Clerk**
C Hubbard
## **Bankers**
The Royal Bank of Scotland plc 17/27 Station Road Reading Berkshire RG1 1LG
## **Investment Managers**
Redmayne-Bentley LLP Market Place House 43 Market Place Henley-on-Thames RG9 2AA
## **Solicitors**
Blandy & Blandy 1 Friar Street Reading Berkshire RG1 1DA
## **Chartered Surveyors**
Dunster and Morton 6 Southern Court South Street Reading Berkshire RG1 4QS
Page 3
**ST LAURENCE RELIEF IN NEED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
Approved by order of the board of trustees on 12 September 2022 and signed on its behalf by:
Rev C R Jones - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST LAURENCE RELIEF IN NEED TRUST**
## **Independent examiner's report to the trustees of St Laurence Relief in Need Trust**
I report to the charity trustees on my examination of the accounts of St Laurence Relief in Need Trust (the Trust) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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.
Graeme Hobbs FCCA Chartered Certified Accountant Hobbs Granger Roitt LLP 8f Millars Brook Molly Millars Lane Wokingham Berkshire RG41 2AD
13 September 2022
Page 5
## **ST LAURENCE RELIEF IN NEED TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Unrestricted
Endowment
fund
fund
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**56,880**
**-**
Investment income
3
**955**
**-**
**Total**
**57,835**
**-**
**EXPENDITURE ON**
**Charitable activities**
Grants to institutions
**57,180**
**-**
Grants to individuals
**1,203**
**-**
Support costs
**5,114**
**-**
**Total**
**63,497**
**-**
Net gains/(losses) on investments
**-**
**2,364**
**NET INCOME/(EXPENDITURE)**
**(5,662)**
**2,364**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**70,558**
**17,677**
**TOTAL FUNDS CARRIED FORWARD**
**64,896**
**20,041**|**31.12.21**
**Total**
**funds**
**£**
**56,880**
**955**
**57,835**
**57,180**
**1,203**
**5,114**
**63,497**
**2,364**
**(3,298)**
**88,235**
**84,937**|31.12.20
Total
funds
£
64,969
912
65,881
67,000
2,024
5,078
74,102
(3,710)
(11,931)
100,166
88,235|
|---|---|---|
The notes form part of these financial statements
Page 6
## **ST LAURENCE RELIEF IN NEED TRUST**
## **BALANCE SHEET 31 DECEMBER 2021**
|Unrestricted
Endowment
fund
fund
Notes
£
£
**FIXED ASSETS**
Investments
7
**-**
**20,041**
**CURRENT ASSETS**
Debtors
8
**18,752**
**-**
Cash at bank
**46,936**
**-**
**65,688**
**-**
**CREDITORS**
Amounts falling due within one year
9
**(792)**
**-**
**NET CURRENT ASSETS**
**64,896**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**64,896**
**20,041**
**NET ASSETS**
**64,896**
**20,041**
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|**31.12.21**
**Total**
**funds**
**£**
**20,041**
**18,752**
**46,936**
**65,688**
**(792)**
**64,896**
**84,937**
**84,937**
**64,896**
**20,041**
**84,937**|31.12.20
Total
funds
£
17,677
18,873
52,417
71,290
(732)
70,558
88,235
88,235
70,558
17,677
88,235|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 September 2022 and were signed on its behalf by:
Rev C R Jones - Trustee
The notes form part of these financial statements
Page 7
**ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. STATUTORY INFORMATION**
The St Laurence Relief in Need Trust is registered with The Charity Commission (registration number 205043). The principal address is Victoria House, 26 Queen Victoria Street, Reading, Berkshire. The charity operates in Reading, Berkshire.
## **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 (FRS 102) (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 convention, with the exception of investments which are included at market value.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
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.
Cost of generating funds comprises those costs directly attributable to managing the investment portfolio and raising investment income. Charitable activities expenditure comprises the donations and grants to charitable organisations and individuals. Support costs comprise management and administration costs for the running of the charity itself as an organisation. Governance costs include those in the governance of its assets and are primarily associated with constitutional and statutory requirements.
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.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
General funds are unrestricted funds which are available for use in accordance with the charitable objective.
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
The costs of administering and managing the general and endowment funds are charged against the general fund. Investment income and gains are allocated to the appropriate fund.
continued...
Page 8
**ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Fixed asset investments**
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising in revaluations and disposals throughout the year.
## **Going Concern**
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
## **3. INVESTMENT INCOME**
**----- Start of picture text -----**
31.12.21 31.12.20
£ £
Investment income 953 863
Deposit account interest 2 49
955 912
GRANTS PAYABLE
31.12.21 31.12.20
£ £
Grants payable for the furtherance of the charity's objectives:
Donations and grant awards to 40 organisations (2020 - 43) 57,180 67,000
Donations and grant awards to 3 individuals (2020 - 4) 1,203 2,024
58,383 69,024
**----- End of picture text -----**
## **4. GRANTS PAYABLE**
Donations and grant awards to organisations were made during the year to the following:
|Reading Association for the Blind
Berkshire PHAB|**1,000**
**1,000**|
|---|---|
|Macmillan Cancer Relief|**1,000**|
|Berkshire MS Centre|**1,000**|
|The Samaritans of Reading|**1,000**|
|League of Friends Reading Hospitals|**1,000**|
|Reading Talking Newspaper for the Blind|**1,000**|
|Cruse Thames Valley Berkshire|**1,000**|
|Berkshire Vision|**1,000**|
|Readibus|**1,000**|
|Reading Cygnets Swimming Club|**1,000**|
|Duchess of Kent House Trust|**1,000**|
|Reading YMCA|**1,000**|
|Activity Club for Children with Special Needs|**1,000**|
|Home Start Reading|**1,000**|
|CIRDIC|**1,000**|
|Christian Community Action|**7,000**|
|Communicare Trust (Reading) Ltd|**1,000**|
|Tilehurst Junior Youth Club|**1,000**|
continued...
Page 9
## **ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **4. GRANTS PAYABLE - continued**
|ABC to Read
Readipop
Mustard Tree Foundation
St Laurence PCC
103rd Reading Scout Group
Reading Mencap
Reading YMCA Football Club
Reading Sea Cadets
Dingley Family & Specialist Early Years
My Cancer My Choices
Daisy's Dream
Stepping Forward
The Cowshed
Mercy Central
Chapter 2
Abbeyfield (Reading) Society Limited
Brainwave
Hearing Dogs for Deaf People
Ridgeline Trust
Sport In Mind
Ufton Court Educational Trust
LESS: Grant payment cancellation
Reading Deaf Centre|**1,000**
**1,000**
**1,000**
**3,000**
**1,000**
**1,000**
**1,000**
**1,000**
**1,000**
**1,000**
**1,000**
**500**
**1,500**
**1,500**
**1,000**
**2,500**
**1,000**
**1,500**
**3,360**
**5,320**
**2,000**
**58,180**
**(1,000)**
**57,180**|
|---|---|
|||
## **5. SUPPORT COSTS**
||**31.12.21**|**31.12.20**|
|---|---|---|
|Clerk's salary
Treasurer's fees
Accountancy fees
Bank charges|**£**
1,605
2,580
852
76
5,113|**£**
1,626
2,580
780
92
5,078|
continued...
Page 10
## **ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **7. FIXED ASSET INVESTMENTS**
|Listed investments
Stockbroking cash accounts
**MARKET VALUE**
At 1 January 2021
Market movement
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|**31.12.21**
**£**
**20,041**
**-**
**20,041**
**Listed**
**investments**
**£**
**17,677**
**2,364**
**20,041**
**20,041**
**17,677**|**31.12.20**
**£**
17,677
-
17,677|
|---|---|---|
The listed investments comprise UK investment trust and unit trust funds.
The historical cost of listed investments is £5,753 (2020 - £5,753).
continued...
Page 11
## **ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
|**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|---|---|---|
||||||**31.12.21**|31.12.20|
||||||**£**|£|
||Other debtors||||**18,752**|18,873|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||
||Other creditors||||**31.12.21**
**£**
**792**|31.12.20
£
732|
|**10.**|**MOVEMENT IN FUNDS**||||||
||**Unrestricted funds**|||At 1.1.21
£|Net
movement
in funds
£|At
31.12.21
£|
||General fund|||**70,558**|**(5,662)**|**64,896**|
||**Endowment funds**||||||
||Endowment funds|||**17,677**|**2,364**|**20,041**|
||**TOTAL FUNDS**|||**88,235**|**(3,298)**|**84,937**|
||Net movement in funds, included in the above are as||follows:||||
||**Unrestricted funds**|Incoming
Resources
resources
expended
£
£|||Gains and
losses
£|Movement
in funds
£|
||General fund|**57,835**||**(63,497)**|**-**|**(5,662)**|
||**Endowment funds**||||||
||Endowment funds||**-**|**-**|**2,364**|**2,364**|
||**TOTAL FUNDS**|**57,835**||**(63,497)**|**2,364**|**(3,298)**|
||||||||
continued...
Page 12
## **ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.20
£
**Unrestricted funds**
General fund
78,779
**Endowment funds**
Endowment funds
21,387
**TOTAL FUNDS**
100,166
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
65,881
(74,102)
**Endowment funds**
Endowment funds
-
-
**TOTAL FUNDS**
65,881
(74,102)|Net
movement
At
in funds
31.12.20
£
£
(8,221)
70,558
(3,710)
17,677
(11,931)
88,235
Gains and
Movement
losses
in funds
£
£
-
(8,221)
(3,710)
(3,710)
(3,710)
(11,931)|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**|At 1.1.20
£|Net
movement
At
in funds
31.12.21
£
£|
|---|---|---|
|General fund|78,779|(13,883)
64,896|
|**Endowment funds**|||
|Endowment funds|21,387|(1,346)
20,041|
|**TOTAL FUNDS**|100,166|(15,229)
84,937|
continued...
Page 13
## **ST LAURENCE RELIEF IN NEED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|123,716|(137,599)|-|(13,883)|
|**Endowment funds**|||||
|Endowment funds|-|-|(1,346)|(1,346)|
|**TOTAL FUNDS**|123,716|(137,599)|(1,346)|(15,229)|
||||||
The general fund represents the unrestricted funds available for distribution in accordance with the charitable objective of providing relief for those in need.
The endowment fund represents the non distributable investment of the charity.
## **11. OTHER FINANCIAL COMMITMENTS**
As at 31 December 2021 the trust had authorised grants of £41,000 to be paid in the next financial period.
## **12. RELATED PARTY DISCLOSURES**
## **Church Lands and John Johnson's Estate Charities**
The charity is under the common trusteeship and a beneficiary of annual income from Church Lands and John Johnson's Estate Charities. During the year the charity received an annual income distribution of £56,880 (2020: £64,969) and was owed £18,752 from this related party (2020: £18,873).
## **Vale & West**
The treasurer, Mr Pyke is a partner with Vale & West Chartered Accountants. During the year the charity paid Vale & West £2,580 (2020: £2,580) for accountancy services.
Page 14