Chorlty number.. 208394 Th• Lord AvMin Tru Trustees. Report ¢YKI Flnonclgl Sioiements For the Ye¢r Ended 51 Mor(h 2024 IDAINS > ALIDIT Th• Lord Austkn Trust Q4nlents Poge Ref•r•n¢• tXKI Admlrknatlv• Det¢J4s ol the Tnut. 11$ Try￿••$ tMdAd¥ts• Trust￿, Report Trv•t••< A••ponslbllltits Siat•m•nt Ind•p•nd•nt Examln•fi R•wi Stat•m•nt of Flnat)thl Actlvltfi•s Jqlanc• Sh••t Not•s to th• Flnandal Stot•m•nts 10-18 The Lord Austkn Trust R•f•r•nce Admlnlstraiive OetdL* of tr* Trust. Its Tr&￿e*S ond Ad¥knrs For the Year Ended 31 Miych 2024 Tru$t¢¢s A N, Andrews. Chairman Ft S Keiiel {Ftetireé 16 November 2023) K M Dudley Idecwsed 15 Cciober 2024) HJHvni SEWood Charlty reglster•d number 20B594 Prlnolpal offlc• Shokespeoie Mortirbeo No I Colm0￿ SqLKI 81miinghom Prlndpol The EStts￿ (yfice Wharf Cortage 8ro¢ynbonk Tenbvry Wel Worcesrershl WR15 8NY Accountants Dow Aucjrf Limtted 2 Chjmberloin Sqwre Poro¢ise Circus BifmingNam B3 ank• S8c eonk Fic po eox e8 150 New Sir¢et 8lrmingham B2 4JU Sokltorl S￿keSPe0Te Martineau No I Colmore Sq￿￿re Birminghom Invwtm•nt Att4￿• Rothbone Invp5tmerrt Monogemeni Limmed 1 Curzon StreeT London J5F8 Poge 1 Th• Lard Au511n Trust Trv5tM¥ R•port For lh• Year End•d 31 Marttl 2024 The Trustees present iheir (Jnnvol repon 109ether wilh ihe fi.nanc￿1 stotemenis of the Trvst for the yeor l April 2023 to 51 March 2024 Oble¢¢iv•s ond octlths Polldes and ab￿￿•$ The Chorily provldes finonclal osslstonce for 5trKrly chodt(knle Pltrposes wfvh the ¢Jeslre 1hat preference should be glven to.. a) Hospiiols orKI Clinic b) Insiiiutlons whose oblecls ore.. Medtol and/or surglcol reseorch ond Slmilor and/or ollled obie¢ts. The care. rnolnlenonce. educ￿10￿ ond vpbringirrt) ol poor children. In r4Jrt*cvlor the Testotor ée51red ihot ihe Trustees should consider 8ornordo's on¢J Slmllor Insittut￿nS The care of destitute iJd p￿￿e. Projeds thot the Trustees consbder wwld benelft the locol ¢ommvnity. Yhe Chcrliy hos the generol alm of contribv11r￿ to the Iwolhy ol lif• ol people. There have been no ¢htsrKJes in the obl•etlves ond olrns slnce the lost onnyol rekKrt. Trusteès tnsvre thoi ihe Chorrty's inv•stmert pmlolks generotes Income to provlde Ivnds lor rhem io rnoke grants to a wlde range ol causes to fulfil lis obiectives. In settlng objectlv¢5 ond plan￿n9 for othvities. the Trustees h*M given thJè C￿￿der￿[lOn to generol 9uld0￿e publlshtd by ihe Chority CommLsslon reloting to wblic benèftt. Including ihe guldonce'Publlc benefii.. rvnning a chorlty (P821' b. Grani.moklng p￿1¢1 The Trusiees normollu meth bbnnwlty to cc¥isi¢Jtr grgnis ttr￿Y wlll oword In Ilne vAth the preferences Ilsted obove, ond to review ony feedback they hove received. Poge 2 Th• Lord Avstin Trust Trvstws, R•port (coffllnii•d) For the Year Énded Jl Mtych 2024 Achlev•m•nt• and p•rfwnon¢• . R•¥1￿ of actlvitkns The Trust's flnondol st¢xefftents are sw out on p)ges 8 to 18. The testator wve the Truslees obsollrte dIScr￿￿)n In ihe apw"nimenl of ihe Income ond capltal ovoilable omongst such instY(utlons os they rnay deterM￿e frorn twne io Imè. The Chorny recefved Investment w7c4yne the yeor of ll37,633 (2023 £157.646). The Tru51ees made donorbns gmounring to £123.500 (2023 . £116.700) 10 o wide rorot ol couses. The nei de¢reose in resources for ihe year omounled to £2.965 {2023- nei Increose ol E5.084) before iokin9 inlo occovnt net goins on Investments for the yeor of £231.004 (2023 - nei 105ses of £336.886) Totol funds have tncreased from £4.044.073 1¢ £4.272,712 (2023 - decreosed frorn £4,377.875 to £4.044.073). The volue of thè Trust's Investments stoThJ or £4.161206 ￿ ihe yeor end (2023 - £3.930.202}. The Trustees ore of the opinw thoi boh]nce sl*ei disd05e5 fvnas adequote tor ihe purpose ot lulfllllng the obllgoiion5 01 the Trust. Flnand¢l r•vb•w After moking opprgWlQte enqulries. Ihe Trvsiees hove a reosonoble èxpeaotlon that ihe Trust hos odeqvote resourc*s io coniinue in operoiionol existence for ihe loreseeoble f￿vre. For this reason. Ihey continue to odopr the 9Olng concern bosls In preporlng the Iinonciol sieterneni& Further deioiis Te9ordln9 ihe odoption ot the g¢Jng concern b(Jsls con be found In the o¢¢ovnllng pollc*& b. R•Mrv•s pvlk¥ The free reserves of rhe Chorilu 05 Ot 31 Morch 2024 were £4.272.112 12023". £4 044.073) as represented by unrestrlcie¢J funds The Charny ￿11 oim io hold sUtfic￿l reserves f¥e held io en5ore ihot Ihe Chorlty ton continue groni moking ocrivities In ihe future c. Inv•strnent pomcy The Chority's Investmen15 ore monoged by ft￿hbOne InvesTment Mor*ogement Umtied. The Investmeni mtsTh)ger provide5 qUQlrterly repofls ond meeis wlh ihe Trustees Iwce o yeor to review tt)e Chorily5 investrnents. The invesrment obleciives ore io seek to produce optlmum iotol return in order io mointoin ihe copitol volue of the pl)rtfol￿ In line with Inflotion and produce on onnvol income of ￿ leost £120.000. The Trustees wish ro o¢Jopl o medlum risk invesiment sirotegy. which shoukJ be och￿ed thr￿gh o dwersrfled pOrrfol￿ of morkelable invesimeni& The Twst Deed does not Imp95e ony specrft re$tTrct￿$ on the woy the Chofity con operate. 11 is ihe pollcy of rhe Trustees thai ossets ore Invested In the w*dest roTrJe of investmerns os permitted by ihe fruslee Act 2000. Poge 3 The Lord A￿S￿D Tnisi Truste¢¥ R¢port (continu For th• Y•ar End•d 51 March 2024 Structur*. gov•rrbance ryKI Inongg ConstltutlDn The Lord Austin Trust 1$ o regislered (￿rrty. nUm￿*T 208394. ond governed and constituted by Ihe Will ond C￿1ClI of the knie Fllght Honouroble Herbert Bgron Austsn ol Longbfidge K8E oncl vo¢*d in on order of ihe Hlgh Couri of Jusiice (Choncery Dwision) ts￿e¢ 22 Febrvory 1962 on¢J o scheme doted 6 Mofch 2007 ond s rÈgiste￿d wilh the ChrJriiy COmmsS￿￿. lèthods of appokntrneni or ef¢ctkn of T￿t￿l The mcnagement of the TnJ5t ts the re5pon&b11 iiu of the Trustees 4Yho 0￿ e￿Cted ond co-opted Under the rerms of the Trust Deed. The Trustees who served durkng the year w*r•.' A N Andrews R 5 KettEI (re5KJned 16 November 2023) M Duttley (cleceased 15 Ociober 2024) Fl J Hunt SEWood Or4(￿t￿l￿71 itnKiw• d•Clknft￿k￿q Cfveroll responsiblllly lor the ChOrtt￿s act￿11￿ ￿ vesied in rhe IruSle•& who ore appoinied under the ierms ol the Trust Deed. All motters of policy ané rTvJnogernent are oins Audbl Llrbth•d Blrminghom Poge 7 Th• L*)rd Austln Try￿t St¢Jtem•nt of finryKlal For th• Yeor End•d Jl 14arch 2024 Unr•#rkt•d Totol funds 2024 Total funds 2023 2024 tr4ot• Incom• from: Investments 157.653 157.635 137.646 Totul bn¢om• 137.633 137.633 157.646 Exp•nditur• on: Roising funds Chgrttoble octivnies 7.987 152.611 7.987 8.017 152.611 126,545 Tot￿ •xp•ndhw• 440.$98 140.591 134,562 N•t (•¥p•ndltw•)/h*om• b•for• n•t 9QSnJ/0￿Iw) on v•stm•ntA 12.965) 2SLI)04 (2.965) 251.004 3,084 Net goins/llossos) on InveStff￿nfS (336.886) N•t Incom•/(•xp•ndltvr•) 22&059 228.039 (355.802) mov•m•nt In funds 12 228.039 228.039 (333,802) R•con¢lllatlon of fundj: Totol lunds brought forword Net movement In fvnds 4.(IH.073 4,044.on 224.039 4.377.875 220.039 (533.802) Totol funds cthd f*)rword 12 4.272.112 4.272.112 4.044,073 The Staternenl of Flnanoal Atttyrties Include5 0119(Jins ond losses recognised In tht yecx. The noiès on poges 10 to IB form port of these fir￿nc￿j1 stthement& Page 8 2023 1930,202 35JW 51049 86272 119,321 (4.712) 15.49)) 113A71 271112 4DM,073 4.271112 4.044 071 4P44.073 4.2n.n2 4.044 071 Tmstee Pag• g The Lord Avmin Tntst Not•s to th• Flntyth St(rt•m•nts For the Y•ar Ended 31 March 2024 G•n•ral InfOrm￿lan The Lord Austln Trust Ls o ckw)r￿￿bIt Trvsr reglsiered wnh ihe Chorlty Commls&on for England and Woles. The od(Jress of the prinapol oflice 15 gNen In the reference ond odministrotlon sectron. The noture of the charitoble Trusys o£tJvll*s ore detalled Jn Truste￿. report Accoun¢iTrJ pollths 2.1 8￿1$ of pr•porotlon •f flThJnclal ¥tth•m•nts The financiol stoternents hove been prepored m (￿cOrdanCe the Charlties SORP (FRS 102>. Accountlng ond Resxjrting by Choritles". St¢Xemeni ol Recommended ProCl￿e oppllcoble to choriries prepartng Their accounts In occordonce wlh Ihe Finonciol ReportirKJ Sionolord opplicoble in the UK ond Republlc of Irelund (FAS 1021 (elfeetive l Jonuory 2019). Ihe Finonciol Reporting 510ndord oppllcoble In the UK ¢nd Flepubllc of Irelond ￿Ps 102) ond ihe Choriltes Aa 2011 The linonclol stotemems huve been preptytd lo gwe g Jrve (￿d lairf V￿4 ond hpve deported fr¢yn thè Choritles (Acco¢Jnts ond Reports) Ae9vloiions 2008 only to ihe exieni rèquired fo provide o 'true and folr, vièw. Thls deporture h¢$ Involved followno Ihe Charrt￿S SOAP {FRS 102) published In Oci<*er 2019 rather thon the Ac¢ountln9 ond Reporting ￿ Chorltie& slotem￿l 01 Recommen¢Yed Proclice eftecllve from 1 Aprll 2¢)05 whl¢h has stsKe been withdrown. The LorLI Austln Trust rne￿S thé defIn￿lI)rt of o pubjlc benefit eniiiy under FRS 102 Assets and Iiabllllles ore inllKilly re¢ognlsed 01 hi￿011¢￿1 cost e* tr(WXthon vohje unless Otherwlse sttsted in the relevtsni occounting policy. 2.3 G¢kn9 conc•m The Trustees I￿Ve considered ihe goiNJ concern cM¢ept ond ossocored moteriol uncenoinlles, The bosis of ony *g.Yrftant I￿19ements ond the moitèrs io consKler when confirming the preportsibn of the flnancial siotements orb o going concern bosis. ond the Trustees ore comfortable thtsi Ihere orè noi ony adjustments requlred. The Trustees expect ¢he Chtsriiu 10 continue in operoiion for at ￿051 72 months from the dote ol 4gnlng the ftnonthtsl stoiements 1.5 IrKom• I Income is recognised once the Trust hos enithemeni to Ihe Incorne. Il Is oroboble thot Ihe income vAIi be re(elved and the ornovni ot Ir￿0￿e receivoble con be measured reliablu. Interest M fund5 held on deposit IS Inclutyed w￿n rec*vable c￿1 the omount con be meosvred rellobly by the Chorr¢y. [j￿dendS ore recognised once the divldend hos been declared ond noiilicotion hos been received ol the dlvidend dve. Thls is normally vpon notlfcotion by Our snvestrnent odwsoT of the dividend yleld ol ihe Investment portlolmx Poge 10 The L¢rd Austln Trust Notes to th• F1nThK￿ siat•ments For the Y•or End•d 31 2024 A¢¢ountlng polki•s (cOntkN￿d) 2.4 Exp•ndftvr• Expenditure is recognised ¢￿￿e there Is o le901 ¢y constrbcrive obli9ation to tronsler economK beneflt 10 o third party. it Is proboble that ¢J Ironsfei of economie beneilis will be reqvired in 5eiilemenr ond ihe amount of iht obligotion be me05ured relh?bly. Expendrtvre Is clo5￿fied by Oclivity. The costs of each octlvlty ore moae up of Ihe ioioi ol dlreci costs oncl shored cosis. In¢luding svppon cosis Involved In undertoking eoch Ociivity. Dirett costs ottnbutoble io o Sing￿ octlvity Ofe ollocoied directlu lo ihot ortivily Shored cost5 whlch contribute io more i￿)n one octivlly ond 5VPWt costs whrh gre not Ollributoble to o slngle actlvily or* apportioned between those o£riviT*S on o bosis conwtent wilh the use of resourtes. Central slolf costs ore ollocoted on Ihe bos15 of lime sF*M. oThJ d•preck)iion chorges al*ated on the portlon of the os$¢t's use. Supp¢)rt rosts ore Those costs IrKurred threctly In supwt ol eXpend￿vre on the objects of Ihe Trust ond include proleci monogemeni. Governance cosis ore those Incurred in conr*cik)n wth admknistrurion ol the Trvsi ond complbnce wilh constitutlonol ond siotuiory requirements Expenditurt on rolsing funds includes expèndilure InoJrrea bg the Trust to raisè funds fgr Its charltable purposes. Expenditure on choritoble OaNrtie5 IS Incurred on dlreuly vntsenaklw the acrivlt*s whlch Ivrther the Trust's oblecriv¢¥. os well os ossocitiied svpoort cost& Gronts poyoble ore poyments mode to thir(I porties In the ftsrtheronce ol the chorilable obieciives ol the Chority. Single or multi-ueor gionts 0￿ ¢xcounied for when enh*r ihe rè¢lplent hos o reasonoble expecloiion ihot they wll recwve o groni ond the Charrty hos ogrted To poy the gront ¥￿thouT condllltsn. or the re£lF4ent hos o reoSonob￿ expeuotton thot ihey %thll receive g gront and ony condS1ion attaching to the ront ts othside the conlrol of the Chorily. All expendhure Is InClus￿e of Irrecoveroble VAT. 2.5 Inve•tm•nts Fixed o55et Investmerbis ore g form of fin0n￿ instrument ond ore inilially recognised ar iheir ironsocfion cost ond svbseqtsenily meosured ai fair wolve ot the Balonce Sheei ijole. Vnless Ihe volue connot be meosured rel10￿Y irn which cose il is me05ured ot Cost less Impoirmeni Inve5tmeni gain5 ontj Itrsses, whether reallsed ¢y unreolised. ore combned ond we5enieU os '&)Ins/