REGISTERED CHARITY NUMBER: 205043 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR ST LAUREIYCE RELIEF ILY NEED TRUST
ST LAURENCE RELIEF IN NEED TRUST CONTENTS OF THE FINANCIAL STATEMELYrs FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Aetivilies Balanee Sheet Notes to the Financial Statements 8 to 14
ST LAURENCE RELIEF IN NEED TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 DcL¢mb¢r 2023. Th¢ trust¢¢s havc adopt¢d th¢ provisions of ALcountiii¥ and R¢portin¥ by Charitics.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinanLial R¢porting Staiidard applicabl¢ in th¢ UK and R¢publiL of Ir¢land (FRS 102) {cff¢Ltivc l January 2019). OWECTIVES AND ACTIVITIES objtil,e$ and aims The priinary objeCti.e of the charity is to apply the annual income after management expenses for financial assislan¢e, eiilier gen¢rally or individually, to thos¢ people residiiig in the Ancient Parish of St. Laurence, Reading, who face conditions of need, hardship or distress. Where the net annual incoine is not required for the primar! objective, the Trustees may apply it in a similar manner to those people residing in the County Boroug]i of Rcading. The charity invites applications for financial a5SlStance frotn 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 Cotninissioner's and are satisfied that the charitable objectives of the charity and its related charities satisfy criteria for public benefit. ACHIEVEMENT ALYD PERFORMAIYCE Charitable activities During the year the charity made donations and grant awards of £66,295 {2022 - £38,498) in total tor the benefit of 44 organisations. Investment perforniance The end0,Ment fund fixed assets comprise a modest portfolio of listed inN'estments. The return on listed investtnents was in line with expectation for the investment strategy and risk profile of the charity. FINANCL4L REVIEW Investment poliey objeetives Th¢rc ar¢ no r¢strictions un th¢ truste¢s' p0'¢r to invcst the assets the charity. Listed invcstillcnts arc low risk and held in managed investment tunds with a bias towards providing income. Principal funding sources and resern'es policy Tlie principal tunding source is from related charity, Church Lands and John Johnson's Estate Charities (charity no. 205043). Annual iiicome mav vary depeiiding on the investment perfomiance of the related charity's endowment fund. The trustees maintain unrestricted cash reserves at a level equivalent to one yeavs expenditure to ensure sufficient cash is available to fund ¢haritabl¢ distributions arising in the firsl quarter of th¢ n¢xt finan¢ial year. Page I
ST LAURENCE RELIEF IN NEED TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND LIIANAGEMENT Governing document and trusteeship The St. Laurence Relief in Need Trust is an unincorporated charity governed by a deed of rrusl dated I January 1942. The body of the trustees comprise three ex-officio trustees, two representative trustees and up to four ¢o-opted Irusl¢es. Tlie vicar and church,8rdens for rh¢ tinie being of St. Laurence Church. Reading ar¢ th¢ ex-officio trustees and representative trustees are appointed by Reading Borough Council. Recruitment, appointment and indlletion of new trustees Trustees are carefully selected for their knoM,ledge and experience of charitable organisations. New trustees ar¢ ¢l¢¢t¢d at the Annual G¢n¢ral Meeting. Newly appointed trust¢¢s ar¢ indu¢t¢d t() the ivork of th¢ 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 Charilies Act 2011. A trustee may retire voluntarily. Organisation#l structure The Chaim]an. Rev C R Jones, has overall responsibility for the charity and is assisted in this role by the Clerk. T'h¢ -freasurer is responsible for the financial management of th¢ charity. The charity engages a fimi 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 Iruste¢s acknowledge their resw)nsibility to id¢niifs' and r¢vi¢w th¢ risks lo which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTIi4TIVE DETAILS Registered Charity number 205043 Principal address Victoria House ?6 Queen Victoria Street Readiiig Berkshire RGI ITG Trustees Mrs P Thomas Mrs R P Williains MrN C Burrows Mrs R E Pearse Rev C R Jones (Chaim]an) Dr N A Brown (rcsign¢d ? 8.23) Mr L R Smith Page 2
ST LAURENCE RELIEF IN NEED TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner GraLinL Hobbs FC.CA Hobbs Granger Roitt LLP 8g Millars Brook Molly Millars Lane WoLinghatn Berkshire RG412AD Chairman Rev C R Jones Treasurer J Pyke FCA Clerk W Sanders Bankers The Royal Bank of Scotland pl¢ Liverpool CSC Si¢phenson Way Wavertree Liverpool L13 IHE Investment Managers Redtnayne-Beiitley LLP Market Place House 43 Market Placc Henley-on-Thames RG9 2AA Solicitors Blaiidy & Blandy l Friar Street Reading Berkshire RGI IDA Chartered Surveyors Simmons & Sons 12 Wote Street Basingstoke Haiiipshire RG217NW Page 3
ST LAURENCE RELIEF IN NEED TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Approved by order of the board of trustees on ..05]09].2024 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 exatlliner's report to the trustees of St Laurence Relief in Need Trust I report to the charity trustees on my examination ot the accounts of St Laurence Relief in Need Trust (the Trust) for th¢ y¢ar Cndcd 31 D¢cciiib¢r •023. Responsibilities and basis of report As the ¢haril}' trustees of the Trust you are responsible for the preparation of the accounts in a¢¢ordance 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 hai'e followed all applicable Directic)ns given by the Charit}, Cominission under Section 145(5)(b) of the Act. Independent examiner'$ statement I have completed my examination. I confirtn that no material tnatters 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 Trust as required by Section 130 of the Act. or the account5 do not accord with those records; or the accounts do not compl}, with the applicable requirements concerning the forn) and content of accounts set out in the Charities (Accounts and Rcports) Rcgulations 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 cotne across no other tllatters 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. Mgbb Graeme Hobbs FC.CA Hobbs Granger Roitt LLP 8g Millars Brook Molly Millars Lane Wokinghaiii Berkshire RG412AD Date.. 091.0912024 Page S
ST LAURENCE RELIEF IN NEED TRUST STATEMENT OF F1Tr4ANCL4L ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total fullds 31.12.22 Total funds Unrestricted Endowment fund fund Notes IIYCOLVIE AND ENDOWMENTS FROM Donations and Icgacies 63,485 63,485 65,716 Investment income 1,083 1,083 1,074 Total 6468 6468 66,790 EXPENDITURE ON Raising tunds 50 50 40 Charitable activiti Grants lo institutions Support ¢osts 66295 5,499 66295 5,499 38.498 5,350 Total 71,844 71,844 43,888 Net gainsl(losses) on investments (445) (445) (1.116) NET INCOMEI(EXPETr4DrruRE) (7276) (445) (7,721) 21,786 RECONCILIATION OF FUNDS Total funds brought fonvard 87,798 18,925 106,723 TOTAL FUNDS CARRIED FORWARD 80522 18,480 99,002 106,723 The notcs fortn part of these financial statements Pagc 6
ST LAURENCE RELIEF IN NEED TRUST BALALYCE SHEET 31 DECEMBER 2023 31.12.23 Total fullds 31.12.22 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Invcstsnents 690 18,48 19,170 19,273 CURRENT ASSETS Debtors c.ash at bank 26J90 54J22 26,390 54J22 82,904 5,386 80,712 80,712 CREDITORS Amounts falling due within one year 10 (880) (880) (840) NET CURRENT ASSETS 79,832 79,832 87,450 TOTAL ASSETS LESS CURREIYT LIABILITIES 80522 18,48 99,002 106,723 NET ASSETS 8022 18,480 99,002 106,723 FUTr4DS Unrcstrictcd funds Endoivincnt funds 80,522 18,480 87,798 TOTAL FUNDS 99,002 106,793 The financial statements were approv¢d by the Board of Trustees and authorised for issue on 05J09J2024 . and were signed on its behalf by.. Rcv C R Joncs - Trustce The notcs fortn part of these financial statements Pagc 7
ST LAURENCE RELIEF IN NEED TRUST P40TES TO THE FILYANCIAL STATEMELYTS FOR THE YEAR ENDED 31 DECEMBER 2023 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 StreeL Readiiig. Berkshire. The charity operates in Reading. Berkshire. ACCOUNTING POLICIES Basis of preparing the finallcial statements The financial statements of the charity, hICh is a piiblic benefit entitv under FRS 102, have been prepared in accordance with ihe Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of R¢coinm¢nded Pra¢ti¢¢ appli¢able to ¢hariti¢s pr¢paring Ih¢ir a¢counls in a¢¢ord&n¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10?) (effective l January ?019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in thc UK aiid Rcpublic of Ireland, and thc Chariti¢s Act 2011. The finaiicial statcmciits have been prepared under the historical cost convention, with the exception of investments which are includcd at market valuc. Incoming resources All incoming resources are includcd on the Statciiient of Financial Activiti¢s when the charity is legally entitled to the income and the amount can be quantified witli reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregale all cost related lo tlie ¢ategory. Where costs cannot be direcily 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 tnanaging the investtllent portfolio and raising investment income. Charitable activities expenditure comprises the donations and grants to charitable organisations and indiiwiduals. Support C05t5 comprise management and administration costs for the running of the charity itself as an organisation. Governance costs include those in the governance of its asset5 and are primarily associated w'ith 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 Thc charity IS Cxctnpt from tax on its charitablc activitics. Fund aecounting G¢iieral funds are unrestri¢t¢d funds which are availabl¢ for use in a¢cordance wilh th¢ ¢haritabl¢ objective. Endoivment funds represent those assets which must be held permanently by the charity. principally inveslmenis. Income arising on the endolme111 funds ¢an be us¢d in a¢cordan¢¢ with the objects of the charity and is included as unrestricted income. Any capitsl gains or losses arising on the inveslmenis fomi part of the fund. The ¢osts of adminisiering and managing the general and endowment funds are charged against the general fund. Investtnent incotne and gains are allocated to the appropriate fund. Page 8 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - continued Fixed #sset investments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arisiiig iii rei'aliialions and disposals throughout the year. Going Concer The trustees consider that Ih¢r¢ ar¢ no material un¢ertainties about the Trust's ability lo conlinue as a going concern. INVESTMENT INCOME 31.12.23 31.12.22 Investment income Deposit account interest 741 342 1,069 1,083 1,074 RAISING FUNDS Investmenl management ¢osts 31.12.23 31.12.22 Stockbroker service charges 50 40 GRANTS PAYABLE 31.12.23 31.19.22 Grants payable for th¢ furih¢ran¢¢ of the ¢harity's obj¢¢liv¢s'. Doiiatii)ns aiid grant awards ro 44 orgaiiisalions (2092 - 34) Donations and grant awards to O individuals (2022- 0) 66,295 57,180 38,498 Donations and grant awards lo organisalions '¢re made during lh¢ year lo the following.. Reading Association for the Blind Reading Dcaf Ccntrc Macmillan Cancer Relief Bcrk5hirc MS Ccntrc The Samaritans of Reading Lcaguc of Fricnd5 Rcading Hospita15 Reading Talking Newspaper for the Blind Crusc Thamcs Vallcv Bcrk5hirc Berkshire Vision Rcadibus Reading Cygnets Swimming Club 1,000 1.000 1,000 1,000 1,000 1.000 1,000 1.000 1,000 1,000 1,000 Page 9 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 G114NTS PAYABLE- continued Duchess of Kent House Trust Reading YMCA Activity Club for Childreri with Special Needs Home Start Reading Dingley Family & Specialist Early Years CIRDIC Christian Community Action Coiiimunicare Trust (Reading) Ltd Tilehurst Junior Youth Club ABC to Read Readipop Mustard Tree Foundation St Laurence PC.C 103rd Reading S¢out Group Reading Mencap Chapter 2 Daisy's Dream COShed Faith Christian Group Reading Association for th¢ Blind Reading Welfare Rights No 5 Young People Conncct Rcading Rabble Theatre ChurLh¢s Togcthcr in Earley and East Reading Schools Proj¢ct Parenting Special Children St¢ppiii¥ forward Nei¥ Beginnings Rcading S¢a Cadcts 1,000 1,000 1,000 1,000 1,000 1,000 4,000 1,000 1,000 1,000 1,000 2,000 3.000 1,000 1,000 1,000 1.000 1,000 6,000 995 1,000 4,000 1,000 5,000 5,000 2,500 1,800 3,000 1.000 66,295 Page 10 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS 31.12.23 31.12.22 Clerk's salary Treasurels f¢¢s Accountancy fees Bank charges 1,736 2,706 940 166 1.685 2,706 888 5,548 5,390 TRUSTEES, REIWUNEIL4TION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 20?3 nor for the year ended 31 December 2022. Trustees, expenses There 'ere no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 Deuember ?022. FIXED ASSET INVESTMETr4TS 31.12.23 31.12.22 Listcd ini'cstmcnts Stockbroking cash accounts 18,480 690 18,9•5 348 19.710 19,?73 Listed investments MARKET VALUE At l January 2023 Market iiioveiiient 18,9?5 (445} At 31 Deceniber 9023 18,480 NET BOOK VALUE At 31 December 2023 18,480 At 31 Dcc¢tnbcr 202? The listcd inv¢sttn¢nts comprisc UK investmcllt trust and unit trust funds. The historical cost of listcd invcstmcnts 15 £5,753 (20?2 _ £5,753). Page 11 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other debtors 26,390 82,904 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other creditors 840 11. MOVEMENT IN FUNDS Nct movement in funds At 31.12.23 At 1.1.23 Unrestrieted funds General fund 87,798 (7,276) 80,522 Endowment funds Endowmeiit fund8 18,925 (445) 18,480 TOTAL FUIYDS 1(16,723 (7,721) 99,(Ki2 Nct tnovement in funds, included in the above are as follows- In¢oming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund 64,568 (71,844) (7,276) Endowment funds Endowment funds (445) (445) TOTAL FUNDS 64,568 (71,844) (445) (7,721) Page 12 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 I I. MOVEMENT IN FUNDS- continued Comparatives for movement in fund$ Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds G¢neral fund 64,896 22,902 87,798 Endowment funds Endowment funds 20,041 18,925 TOTAL FUNDS 84,937 21,786 106,723 Coiiiparative net moi'ement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestrieted funds General fui)d 66,790 (43,888) 22.902 Endowment funds Endoivment funds TOTAL FUNDS 66,790 (43,888) (1,116) 21,786 A current year 12 months and prior year 12 months combined position is as follows.. Net niovement in tunds At 31.12.23 At 1.1.22 Unrestrieted fund$ General fuiid 64,896 15,626 80,522 Endowment funds Endowment funds 20.041 (1,561) 18.480 TOTAL FUNDS 84,937 14,065 99,002 Page 13 continued...
ST LAURENCE RELIEF IN NEED TRUST LYOTES TO THE FIIYAIYCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 I I. MOVEMENT IN FUNDS- continued A current year 12 months and prior year l ? above are as follo's. months combined net movement in funds, included in the Incoming resources Resources expended Gains and Movement losses in funds Unrestricted fund$ General fund 131,358 (115,732) 15,626 Endowment funds Endowment funds (1,561) (1.561) TOTAL FUNDS 131,J58 (115,732) (1,561) 14,065 The general tund 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. 12. OTHER FINANCIAL COMMITMENTS As at 31 December 2023 the trust had authorised grants of £29,725 to be paid in the next financial period. 13. RELATED PARTY DISCLOSURES Church Lands John Johnson's Estate Charities Thc Lharity is undcr th¢ Lotllmon tru5t¢¢5hip aiid a bcncficiary of annual incom¢ from Church Lands and John Johnson's Estate Charities. Dliring the year the charity received an annual income distribution uf £63,485 (2022.. £64,152) and was owed £26,390 from this r¢lat¢d party {20?2.' £82,904). Vale & West The treasurer, Mr Pyke is a partner with Vale & West Chartered Accountants. During the year the charity paid Vale & West £2,706 (2022.. £2,706) for accountancy services. Page 14