REGISTERED CHARITY NUMBER: 205V43 REPORT OF THE TRUSTEES AND UIYAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR ST LAURENCE RELIEF IN NEED TRUST ST LAURENCE RELIEF IN NEED TRLST CONTENTS OF THE FINAIYCIAL STATEMEIYTS FOR THF. YEAR F.NDF.D 31 DF.CF.MBF.R 2024 Page Report nf the Trustees Independent Examiner'5 Report Statement of Finaneial Aetivities Balanee Sheet Notes to tbe Finan¢ial Statements 8 to 15 ST LAURENCE RELIEF IN NEED TRLST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report w'ith the financial statements of the charity for the year 31 December 2024. Tlie trustees have adopted the provisions of Accounting aiid Reporting by Statement of RecomThcnded Practice applicable to charities preparingF tlieir accounts in accordance with Financial Reporting Standard appli¢abl¢ in th¢ UK and R¢public of Ir¢land (FRS 102) (¢ff¢¢tiv¢ l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Th¢ priinary obj¢ctivc of tli¢ charity is to apply the annual incom¢ aft¢r Inanagcm¢nt cxp¢ns¢s for financial assistance, cith¢r gcii¢rally OT individually, to thos¢ p¢oplc residing iii th¢ Anci¢iit Parish of St. l.aur¢ncc, Reading, wlio fac¢ conditions of need, hardship or distr¢8s. Whcr¢ th¢ nct annual incoin¢ is not rcquircd for thc PTiinary objective, th¢ Trustc¢s iiia>' appl>. it in a siiiiilai. iiianiicr to tlios¢ p¢opl¢ r¢siding in tli¢ c.ounty Borough of R¢ading. The charity invites applications for financial assistance froin people residing in either the Parish of St. Laurenc¢ 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 bv the Charity Commissioner's and are satisfied that the charitable objectives of the charity and its related charities satisty criteria tor public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities During the year ihe charity. made donations and grant ￿￿'ardS of £71,503 (2023 - £66,295) in total for the benefit of 35 organisations. Ini'estment performan¢e The endow'ment fund fixed assets coinprise a modest porifolio of listed invegtments. The returi) on listed investments was in line with expectation for the investment strategy and risk profile of the charit5'. FINANCIAL REVIEW Ini'estment policy and objeetives Th¢r¢ ar¢ iio r¢strictions on th¢ trust¢¢s' power io invest thc asscts the charity. List¢d inv¢slments are low risk and Iield in managed investment funds ￿..ith a bias lowards providing incotne. Principal funding sources #nd reserves policy Tl)e priiicipal fundiiig source is froni related chaTity. c.hurch Lands and Jolin Jolinsoii's Estate Cliarities Icl)arily no. ?05043). Annual income Inay vary dcp¢nding on tli¢ inv¢stsncnt pcrforillancc of ih¢ relatcd charity's ¢ndowrnent fund. The trnstees maintain unrestricted cash reserves at a level equivalent to one year's expenditure to ensure sufficient cash is available to fund charitable distriblltions arising in the first quarter of tlie next financial j'ear. Page I ST LAURENCE RELIEF IN NEED TRLST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE Af4D MANAGEMENT Governing document and trusteeship Thc Sl. Laurcncc R¢li¢f in TTUSt is an unin¢orporat¢d charity govcrncd by a d¢¢d of trust datcd l January 1942. The body of the trustees comprise three ex-oificio trustees. two represenLqtive trustees and up to four c041Pted 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. Reeruitment, appointment and induction of new trustees Trustees are carefully selected for their knowledge and experience of charitable organisations. Nei¥ trustees are elected ard of trustees on . 3011012025 and signed on its behalf by.. Rev C R Jones- Trustee Page 4 INDEPEf+lDF.NT F.XAM1Tr4F.R'S RF.PORT TO THF. TRUSTEES OF ST L.4URENCE RELIEF IF4 NEED TRUST Indcpcndcnt eiamincr's report to the truslces of St Laurence Rclicf in Nccd 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 20?4. 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 aiid in ¢arryin¥ out iny ¢xainination I havc follow¢d all applicable Directions ¥iv¢n by thc Charity Commission und¢r SeLtion 145(5){b) uf th¢ ALt. JndepeThdeTht examiner's st*tement I have complctcd ii)y examination. I confirm that no iiiaterial iiiatters hai'e conie to niy attention in connectioll with tli¢ ¢xaiiiination giving In¢ caus¢ to b¢li¢ve that in any mateTial rcspcct.. a¢¢ounting r¢¢ords w¢r¢ not k¢pl iii r¢sp¢¢t of th¢ Trust as r¢ciuir¢d by S¢¢tion 130 of th¢ Act; or the accounts do not accord i¥ith thoge records; or the accounts do not comply with the applicable requirements concerning the forn) 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 parl of an independent examination. have no concerns and have come across no other matters ill connection with the examination to which attention sliould b¢ drawn in this r¢port in ()rd¢r to ¢nablc a prup¢r und¢rslandin¥ ()f th¢ a¢¢ounts t() b¢ r¢a¢li¢d. Gracme Hobbs FCCA I lobbs Graiig¢r Roilt LLP I l Eastli¢ath Av¢t)u¢ Wokingham Berkshire RG412PP Date.. 3011012025 Page 5 ST LAURENCE RELIEF IN NEED TRLST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMETr4TS FROM Donatioiis and legacies 60,525 60,525 63,485 Investment income 1,813 1,813 1,083 Total 62,338 62J38 64,568 EXPENDITURE ON Raising tunds 25 25 50 Charitablc activities Grants to instiiutions Support costs 71,￿13 5,574 71503 5,574 66,295 5,499 Total 77,102 77,102 71,844 N¢t gyainsl(loss¢s) on inv¢stm¢nts 482 482 (445) NET INCOMEI(EXPENDITURE) (14,764) 482 (14,282) (7,721) RECONCILIATION OF FUNDS Total funds brought torward 18.480 99,002 106,723 TOTAL FUNDS CARRIED FORWARD 6S,7S8 18,962 84,720 99,002 The notes form part of these financial statements Page 6 ST LAURENCE RELIEF IN NEED TRLST BALANCE SHEET 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Investments 117 18,962 19,079 19,170 CURREIYT ASSETS Debtors Cash at bank 37,321 29,310 37,321 29,310 54,322 66,631 66,631 80,712 CREDITORS Amounts falling due within one year 10 (990) (990) (880) NET CURRENT ASSETS 6),641 65,641 79,832 TOTAL ASSETS LESS CURRENT LIABILJTIES 65,758 18,962 84,720 99,002 NET ASSETS 65,758 18,962 84,720 FUNDS Unrestricted funds Endowment fundg 65,758 18,962 80,522 18,480 TOTAL FUNDS 84,720 99.002 The financial statements were approved by the Board of Trustees and authorised for issue on 3011012025 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 TRLST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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. ACCOUNTING POLICIES Basis of preparing the finaneial 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) 'Accouniing and Reporting by Charities.. Statement ot Recoiiiiiiended Practice applicable to charities preparing tlieir accounts in accordance witli tlie Financial Reporting Stsiidard applicable iii the UK and Republic of Ireland (FRS 102) (etyective I Januar). 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ircland, a]id th¢ Charit1¢5 Act 2011. T]i¢ fiiiancial statciii¢nts have b¢¢n pr¢par¢d under th¢ historical cost conv¢ntion, with th¢ ¢xc¢ption of inv¢slm¢nls whicli are includ¢d at iiiaTk¢t valu¢. Incoming resources All iii¢oming r¢sour¢¢s ar¢ in¢lud¢d on th¢ Stai¢m¢nl of Financial A¢livili¢s when th¢ charity is l¢gally entitled to the income and the amount can be quantified with reasonable accuraey. Resources expended Exp¢nditur¢ ig a¢eount¢d for on ai) a¢¢ruals basis artd has been ¢lassified linder h¢adirtgg tl)at aggr¢gat¢ all cost relaied to the category. Where costs cannot be directly attribllted to particular headings the! have been allocated to activities on a basis consistent ivith the use of resources. Cost of generating funds coinprises those costs directl), attributable to managing the investment portfolio ai)d raising investment income. Charitable activities expenditure comprises the donations and grants to charitable orgaiiisations aiid indiN'iduals. Support costs comprise InanageThent aiid admillistration costs for th¢ runniiig of the chaTlty its¢lf as an organisation. Gov¢rnaiicc costs iiicludc those in th¢ govcrnancc of its ass¢ts and arc primai'ily &ssocialed witli coiistitutional and statutory reqiiir¢m¢nts. Grllnls 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 Th¢ ¢harily is ex¢mpi froin tax on its ¢haritabl¢ activities. Futhd accounting Gei)eral funds are unrestricted fuiids which are available for use in aecordanee with the charit2ble objective. Endowment funds represent those assets which must be held perinanently by the charity, principally investinents. Income arising on the endowment funds can be used in accordance with the objects ot. the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Page 8 continued... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- ¢ontinll¢d Fund accounting The ¢o%ts of administ¢riiig and maiiaging th¢ g¢n¢ral and ¢ndowm¢iit funds ar¢ ¢harg¢d against th¢ general fund. Invesimeni income and gains are allocated (o the appropriate fund. 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 Coneern The trugtees Lonsider that there are no materi81 unctrtainties alM)ut the TTUgt's ability to continue as a going LonLern. INVESTMENT INCOME 31.12.24 31.12.23 Investment inconie Deposit accouiit interest 1,520 293 741 342 1,813 1,083 RAISING FUNDS Investment management costs 31.12.24 31.12.23 Stockbroker service charges 25 50 GRANTS PAYABLE 31.12.24 31.12.23 Grants payable for the furtherance of the charity's objectives.. Donations and grant awards to 35 organisations (2023 44) Donations and graiit awards to O individuals (2023 0) 71,503 66,295 71,503 66,295 Donations and grant awards to organisations were made during the year to the following: R¢ading Asso¢iation for the Blind Reading Deaf Centre Macmillan Cancer Relief 1,000 1,000 I,￿0 Page 9 continiied... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PA YABLE - continued B¢rkshirc MS Ccntrc The Samaritsns of Reading League of Friends Reading Hospitals Reading Talking Newspaper for the Bliiid Crusc Tharn¢s Vallcy B¢rkshir¢ Berkshire Vision Readibus Rcading Cygnets SwimTning Club Duchess of Kent House Trust Reading YMCA A¢tivity Club for Childr¢n with Sp¢¢ial N¢¢ds Home Siart Reading Dingley Family & Specialist Early Years CIRDIC Christian Community Action Communicare Trust (Reading) Ltd Tilehurst Junior Youth Club ABC to Read Readipop Mugtard Tree Foundation St Laurence PCC 103rd Reading Scout Group Reading Mencap Cliapter 2 Dais) s Dream Cowshed Faith Cliristian Group Re Inspired Reading Welfare Rights No 5 Young P¢opl¢ The Raft Club Citizens Advice Reading Ki￿lath Triist Reading Sea Cadets I,(H)o 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 3,000 7,1)00 1,000 1,0110 1,000 1,000 I,(K)O 16,752 1,000 1,000 1,000 1,000 I,(H)O 8,000 5,1)00 1,000 1,940 1,311 2,500 1,000 1,000 Grants written back Activity Club for Children with Special Needs Reading Agsoc for the Blind (2,1100) (I,(H)O) 71,503 Page 10 continued... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS 31.12.24 31.12.23 Cl¢rk's salary Tre2surer'g f¢es Accountancy fees Bank charges 1,685 2,706 1,100 83 1,736 2,706 940 117 5,574 5,499 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December ?023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor tor ihe year ended 31 December 2023. FIXED ASSET INVESTMENTS 31.12.24 31.12.23 Listed investments Stockbroking cash accounts 18,962 117 18,480 690 19,079 19,170 Listed ini'estments MARKET VALUE Ai l January 2024 Market movement 18,480 482 At 31 December 2024 18,962 NET BOOK VALUE At 31 Deceinber 2024 18,962 At 31 December 2023 18,480 Th¢ list¢d inv¢stm¢nts comprise UK invcstmcnt trust and unit trust funds. Pagell continued... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSET INVESTMENTS- ¢ontinued The historical cost of listed investments is £5.753 {2023 £5,753}. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Other debtors Pr¢paym¢nts and a¢cru¢d in¢om¢ 36,915 406 26,390 37,321 26,390 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 her creditors 990 880 11. MOVEMENT IN FUNDS Net Tllovernent in funds At 31.12.24 Atl.1.24 Unrestricted funds Cjeneral fund (14,764) 65,758 Endowment funds Endowment funds 18,480 482 18,962 TOTAL FUNDS 99,002 (14,282) 84,720 Page 12 continued... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ii. MOVEMENT ITr1 FUTr4DS- ¢ontinlled Net movement in funds, included in the above are as follows.. Incoming r¢sour¢¢s Resources ¢xpcnd¢d Gains and losscs Movemeiit in funds Unrestricted funds General fund 62J38 (77,102) (14,764) Endowment funds Endowment funds 482 482 TOTAL FUNDS 62J38 (77,102) 482 (14,282) Comparatives for movement in funds Net Inovement in fiinds At 31.12.23 At 1.1.23 Unrestricted funds Gcncral fund 87,798 (7,276) 80,522 Endoi*ment funds Eiidowment tunds 18,925 (445) 18.480 TOTAL FUNDS 106,723 (7,721) 99,002 coinparat1￿e net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted General fund 64,568 (71,844} (7,276) Endowment fund8 Endowment funds (445) (445) TOTAL FUNDS 64,568 (71,844} (445) (7,721) Page 13 continued... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ii. MOVEMENT ITr1 FUTr4DS- ¢ontinlled A current year 12 months and prior year 12 months combined position is as follows.. Net Tnovcm¢nt in funds At At 1.1.23 Unrestricted funds General tund 87,798 122,040) 65,758 Endowmeni funds Endowment funds 18.925 37 18,962 TOTAL FUNDS 106,7?3 {?2,003) 84.720 A current year l ? months and prior year 12 months combined net nioveinenl in tunds. included in the abovc arc as tollows.. Incoming resoiirces R¢4our¢¢s expended Gain4 and losses Movein¢nt in funds Unrestricted funds GcncTal fund 1 ?6,906 (148,946) (?2,040) Endowment funds Endowiiicnt fund5 37 37 TOTAL FUNDS 126,906 1148.946) 37 (22,0031 Th¢ gcn¢ral fund r¢pr¢s¢nts th¢ unr¢strict¢d funds availabl¢ for distribution in a¢Lordanc¢ wilh thc charitahle ohjective nf prnviding relief fDr those in iieed. The endowmeiit fund represents the non distribvtable investment of the charity. Pag¢ 14 ¢ontinii¢d... ST LAURENCE RELIEF IN NEED TRLST NOTES TO THE FINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. OTHER FINANCIAL COMMITMENTS As at 31 December 2024 the in]st had authorised grants of £? 500 to be paid in the next financial period. 13. RELATED PARTY DISCLOSURES Chur¢h La￿d$ gnd .John Johnson's Estate Chariti¢$ The charity is under the coinmon trusteesliip and a beneficiary of aiinual income from c.hurch Laiids and John Johnson's Estate Charities. During the yeai. the charit), received an annual income distribution of £60,525 (2023.. £63,485) and was ow¢d £J6,Y15 from this r¢lat¢d party (20?3.. L26,31)0). Vale & West The treasurer. Mr Pyke is a partner with Vale & West Chartered Accountants. During the year the charity paid Vale & Wegt £2,706 (2023: £2,706) for accountancy gervices. Page 15