REGISTERED CHAIUTY NUMBER: 211415
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
MAGDALEN AND LASHER CHARITY GENEIL4L FUND
A¢uity Professio￿1 PartDership LLP
Unit 2.Q2
High Wea]d H￿5¢
Glov¢rs End
B¢xhill
Ea$¢ Suss¢x
TN39 SES

MAGDALEN AND LASHER CHARITY GENERAL FUND
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31 MARCH 21124
Rd¢ren¢e artd Adyninistrativt Detalls
Report of the Trustees
Report of the Indepellden¢ Audlto
Statsment of FIDAnc5#1 A¢thltl
Ststement •fFIDancial Posillon
S¢•tement of C¥Jk FIoTFi
10
Nolts to the St*ttment of CA$h Flows
Nole$ to the Flnandal Statements
12 to 19
De¢illed Statement of FlnADtia] Aetivltl¢s
20 to 21

MAGDALEN AND LASHER CHARITY GEf4ERAL FUND
REFERENCE AND ADMINESTIL4TIVE DETAILS
FOR THE YEAR ETrIDED 3J MARCH 2024
TRusfEES
MrK S Donaldson
Mr G BeTJdon
Mi l M Steel
Mr M F05teT
Mr C Galbraith Chairm
Mrs S Philli￿$
Mrs A Wing
Cltr J Ba¢on
Dr P Lock
Mr J Bi15by
Mrs J Cubison (r¢siglltd 301412023)
Mr M Bole5
Rev M Phipps (appoutsd 111912023)
PRINCIPAL ADDRESS
Old Hasttngs House
132 High Street
Hastings
East Sws¢x
TN34 3ET
REGISTERED CHARITY
N[￿ER
211415
AUDITORS
Acuity Professional P8rtn¢rship LLP
Unit 2.02
High Weald Hvuse
Gloverts End
Bexhill
Easl Sussex
TN39 SES
TRUSTEES EMERITUS
A Sla¢k
G R D Kellie
The TnTrstees were appoilltcd pUts￿an1 to thc 5chcme of the ch￿ltY C4)TOmiS8ioner$ dated 28 Deccmber 1951. The Board
of Trustees is auihori5ed to appoint new Trnsl¢¢s to fill vacanci¢5 among the Cfpoptative TTUStees. Up to three Trt￿l￿$
are nominatEd by H2stings Borliugh Cwncil. The Re¢lor (Pri¢5t-InLbar8e) a￿j the ¢hurchwardens for the time being of
the P￿Ish of St ClemeDt & All Saints ate appointed ex-officiti Tn]stc¢%.
Page I

MAGDALEN AND LASHER CHARrrY GENERAL FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 3) MARCH 2024
The Iru5tee5 Present their repTrrt with the finall¢ial siatem¢nlS of the ¢harity for the year ended 31 March 2024. The
trusi¢es bav¢ adopted th¢ PTovisions uf Accounting Reporling by Chariti&4.' Stsi¢ment of Recommended Praclice
applicable to charities preporin8 their a¢¢ounts in a¢tordallee wilh th¢ FiDan¢ial Rewtin8 Standard applicabl¢ in lh¢ UK
and Republi¢ of IrelaDd (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Obje¢tive$ Attivities:
Thc ChariW$ has one objec¢ namely.. To provide forthe relief of need ofresldents of Hastings.
Public beDefit
Giving grAllts 10 relievc povty. paying peosions to the elderly p)or, employing all outreach worker inter aiia to raise
previously unclairned benefits for disabled and elderly peopl¢ are self EvÈdently public benefJt5. Espe¢ia]ly given that th¢
only qualifi¢8tions for the Tecipients hre ¢hJi th¢y are and ￿5]dent in Hastings and (where appropriaic) over 65 ycars
Implement8tion (ht<tsme
Th¢ Trustecs carried their a¢tivitie5 ulld¢r the committ¢¢ 8trucbJre described in the Annua] Reports for the years
¢ndinE 31 March 2008 and 2009. These administrative XTrdng¢menis bav¢ enablfd the Charity io maintain a con8fftStent
level of ¢haritsble giving.
The Pensions and Outteach Committee continued to provid¢ for pensiorKr5. Pcnston piyments thjring the Y￿ tota]le
£81200 (this io¢ludes a Chrislmab paJin¢Dt made to all pensioncT%).
The eontrdcls with the Hastin88 Advice aTMI Repr¢$¢nt&tion Cthtre (HARC) were renewed for 2 fvrther year (£57,939) to
provid¢ l) an outreach worker to s¢rY¢ a5 the Charity's Visitor and to act as an expert benefits, adviser to th¢ elderly poor
of Hasting5. and 2) an adviser to guide applicants thTOU8h the UTLiversa] Credit syslcrn.
Th¢ Grarjts Commitlce met frequently to ¢onsider JwmerO￿ wpli¢atiork8 for 8rant5 from individuals and organisaiions
for a wide variety of pwposes consisteDI with the obj¢cts of the Charity. Those approved totallcd £211,521 (2023
£657,168).
FINANCIAL REVIEW
Investment policy
Other than propetty ind cash at bank, all th¢ assets of the Charity are invest¢d with tbe Chariti¢s Official Investment
Fund (COIF). All 8ale5 and pw¢hase$ are made with thE approval of the Board of Tnjstees or tbe Fin￿￿¢. Property and
G¢n¢ral Putpos¢$ Comrnittee in a¢eordanee with the Ckwitys Schem¢ of Delegations.
Rental incom¢ deliv¢r¢d a gros5 r￿rn of 4.4Q/• {nei rcturn of 2.050/fjl on the portfolio's mathet value. Th¢ c.haritys
investment protErty portfolio has & value of £5.699,761 (validatcd ID 2019, som¢ Priyrry w&% revajued in 23-24 bui 4
11 revaluation is planned for 25-26).
The COIF $hare invcstmcnt5 provided o dÈvidend rcturn of 2.70/• whilst their capital value d¢¢reased by 8.020/0 The
TnKst¢es continuc to ¢onsid¢r that their ￿lItY to use COIF is 8]Tr￿g thE Charity both a satisfactory and stability itt
the market.
Page 2

MAGDALEN AIYD LASHER CHARITY GENERAL FUTrID
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Reserves polS¢y
Th¢ free Te%eTVC& which sre those unrestrirted ￿ndS t]￿ invested in fjxed a55ets or propertie5 held for ittvesttnenL
deSi￿ated for sp¢¢ific purws¢s or oth¢rwise ¢ommiti¢d, are r¢pr¢scntcd by nei Current asscts and fvDds held on deposit
with CCLA. Tr￿sury mana8ement of the Charity'5 ¢ash rescrve5 15 delegated to th¢ Finance, Pro￿rtY and General
F￿rPOseS Committ¢¢. The Trustees forn￿1]Y con8id¢r th¢ Charity'5 cash T¢serv¢s at each of their n]eetings.
At 31 March 2024 the frce reserv¢s totallcd £257,815 (2023 - £221,955). Trustees view th¢ piesent level of reserves a5
appropriate, having regard io the Charitys Current activiues. Trustees MDain conscious of the need to hold suffici¢nt
reserves lo managc risks. The Chariry ha5 not a¢quir¢d or disposed of any ptopety in the year 2023.24 . Thc tNstecs
continue to improvc the prop¢ty portfolio.
STRUCTURE, GOVERNAf4CE AND MANAGEMENT
Coverning dotumtn¢
The Charity is Tun by a Board of Trustecs which delegates some of its futsctiotts to the committ¢¢s namely Financt
Pru￿rtY and Genthil P￿￿Ose5, Grants Pensions 2nd o￿tr￿Ch.The Chairnian of the Chariry is Clive Galbiiilih. The
variou8 mana8¢m¢nt conunitt¢¢s and the Administrator of the Charity, who is Mrs MaTcia Woolf, assist￿{ by Mrs Joanna
Thomas, the day-today operations.
The Charily originated prior to 21 March 1294 bui is now governed by 3 $¢h¢me of the Chatity Commissioi]¢T% mad¢ on
12 Febrnary 1951, as an*nded in 1965. 19811989, 2013 alld2014.
Related p*rtl¢s
Th¢ CTrari￿s Tru8t¢es are also TTusie¢s (Trl the Magdalen & Lasher Eduutional Troundation and MagdaleD & Lasher
Charity- Old HastiDgs House. Cb8ritable Inconmted Or8anisation.
Rlsk mHnagement
The Ch8ri1￿S Trustee5 have tonsidtted the major risks io which thc Charity is exposed and hav¢ ¢stablish¢d syst¢Tll5 aJJd
pro¢¢dures to ]nanage those risk%. The Trusiees k¢¢p rhcir ri8k policy under regular r¢vi¢w aThd act as nLtCSsary (sec also
Res¢TYes Policy above}.
P4blitieal Contribulions
The Chariry made no poliu¢al ¢ontributiott
The Charity's funding sourtes are exclusively from investments andpropBrty rents.
Pag¢ 3

MAGDALEN AND LASHER CHARITY CENERAL FUND
REPORT OF THE TRUSTEES
FOR THE YEAR EP4DED 31 MARCH 2024
STATEMENT OF TRUSTEES, RESPONSJBILITIES
The T￿St¢t$ are r¢quired under th¢ constiiulion of the Charity to prcparc fill￿¢181 statements for each f]nall¢ial year,
whi¢h give a true arKI f3ii view of the state of affairs of the Ch￿lty and of its results for that period. ID preparing those
fllwjcial statenjtnts the Trnstees are requircd to follow FK5t pro¢iK¢ aNI..
l) select suitsble ￿COUntIng policies and apply them Co￿1￿(ently..
2) make judgemen15 and eslÉmai¢s thai are reasonabl¢ and pwdenl;
3) state whether applicable accounting siandards have been follow¢d, wbjttt tsi any matuial depwtures dis¢losed and
¢xpl&ined in the fJnaDcial 5ts1em¢ni$' and
4) prepare thc fJnan¢ial statetnents on a 80ing concern ba515 unle&% it is inaNYopriate to presume that th¢ Charity
conlinue in operation.
The Trustces are Tesponsiblc for m8illtainiJJg proper accounling re¢ords which dis¢los¢ with reasonable accurnGy al any
time the financial position of the Charity and enabl¢ th¢m to e]k8ure that the fmancial staiements comply with the
Charitie5 A¢1 2011. They are alsu T¢sponsibl¢ for safeguarding the assct5 of the Charity and hencc tsking reawnible
51eps for th¢ detection a￿1 prev¢Mion of fraud a￿] ￿h¢[ itte8ularilie5.
The Tntsiees of Ihe Chawity rnijst, in deiemining ]K>W amounts are prcsented within item5 in the stsiem¢nt of financial
activities and balantc shcet have Tegard to the substance of the report￿ traDsaclioD5 or ar[a￿8¢m¢￿1 in accordance wilh
the geTThlly ac¢¢pted a¢o)untittg￿￿c1P￿S and pra¢ti¢¢.
Approved by ord¢T of the Ix)•rd of trustees on..........
. and signed on its behalf br.
Mr C Galbraith- T￿￿ee
Page 4

REPORT OFTHE IYDEPENDEKf AUDITORS TO THE TRUSTEES OF
MAGDALEN AND LASHER CHARITY GENERAL FUND
OplDIDn
We have audited the financial siatements of Magdalen And Lasher C￿ity General Fund {the'chariry) for the year ended
31 Ma￿h 2024 whirh Comprise th¢ Stsiement of Financi81 A¢iiYities, the stsiemeDI ol FinAllcial Positaon, the Staiem¢nt
of C&%h Flow5 and notes to the r]nan¢ial statemenis, in¢ludtng a SUMM￿ of sigthifJ¢Jnt accounting poli¢ie$. The financial
rq)orting framework (hai h&s been applie(l in theiT pwar81ioo is applitablc law, and United Kingdom Accoun(ing
Standards (UDiied Kingdon] Generally Accept¢d Accounting Practice), including Financial Reporting Srandard 102 The
Financial R¢Kvrting Sthndard applicable sn tht UK and Republi¢ of IrclatHI'.
In out opinion the financial ststement5=
give a true and fair vicw of The State of th¢ charitys affair8 as ai 3 I Marcb 2024 and of its incornirtg reSou￿eS and
aTvlication of resources, for the yearthen ¢nded:
have been PToperly prepared I￿ a¢¢ordance with Unit¢d Kingdom Generally Accepted Accounting Prartice, Includin8
Financial ReportiThg Stsndard 102 The Fi3)an¢ial Reporting StaDdard applitablc in the UK and Rcpublic of Irelalld,;
and
hAve been PT¢pared in a¢o)TdaDce with the requirements of thc ajarities Act 201 I.
B¥si5 for oplnlon
We ¢ondu¢ted our audit ITh accordance with Intemaiional Standards on Auditin8 (IJK} (ISAS IUK}) and applicable law.
Our T￿￿￿n5]b]Illies undeT thos¢ standards ar¢ funhcr desGribed in the Auth"iors' r¢sponsibililie5 for the audit of ¢h¢
fiDan¢ial statement5 $e¢iK)n of (Mjr repotl. We arc indep¢nd¢nt of the ¢haTity in accoTdan¢e with the ethical rcquirem¢nls
that are T¢lcvattt to our audit of the finaD¢ial siatsments in the UK, Including the FRC'S Ethiral Stalldard, and we have
fulfilled ow other ethic81 Tespon5ibiliii¢s in accordance with these rcquir¢ments. We believe that the audit evideD¢¢ w¢
have obtsirted is sufficient and appropriate to provide a basi5 for our opinion.
C&DcIu5lOns rel•ting to g•lng concern
In auditing the r]naDcial slatemenls, we have concluded th¢ trustees, use of th¢ going ¢oncem basis of accourtiillg in
th¢ prepaTatiotL of the financial slaiemenL8 is approprial¢.
Based on Ihe work we have PLYforn)a, we hav¢ not identified any malerial uncertainties relatiDg to ¢v¢nt8 w condition5
that. individllally or ¢oll¢ctively. Tnay ¢asi sigDifi¢ani doubl on th¢ chariry's ability to continue as a 80ing concern lor a
peri4)d of at I￿$( Nelve month5 ftom when the financial slateincnts are authorised lor isw¢.
Our respo￿]bIlitIeS and the responsibilitie5 of the tnjstees with rupect to going collcern aTe des¢rib¢d in the relevhnt
sections of t￿'S report.
Othty IMformfitloD
The Injslees are responsible for th¢ other infonnalion. The othet infornution comprises the Inforn￿tIon included in thc
Annual RepoTt, other than th¢ financial srolem¢nts and ourReport of the Independent Auditors thereon.
Our opinion on the fman¢ial 5tatemenis does not rover tbe other inforniation and, except to the extent othenvis¢
explicitly ststed i)) our rewrt. w¢ do not expr￿$ any forni of assurance conclusiots ih¢reon.
In ¢onnection with our audit of th¢ fmancial statcments, our r¢wnsibility is to read the oth¢i informauon and, in doins
so, consid¢r whetheT the other inforniation is maienally incoDsistent with the finan¢ial slatement5 or our knowledge
obiained ITh the audit OT othejwise appears io he mataially misstated. If we id¢ntify such matrrial inconsistencies or
app3t¢nl material misstatements, w¢ are required to d¢t¢nnine wh¢lher thi5 givts ri5C to 2 mal¢rial misstaiement Jn the
fthancial statcments themselves. If. bas￿ on th¢ WOTk we bave p¢rfoTtned, we conclude thai thcre is a matttial
misstst¢rnent of this oiher iDfonllation, we are required to report that fact. We have nothing to Teport iti this Tegard.
M*tt¢rs on whleh w¢ aTe requirtd to report by exteptian
W¢ have noihing to repotl in r¢spect of the followu¥ matters whcrc the Charities (Accoullls. and Report5) Re8ulalions
2008 require5 U5 lo rep)rt to you if. iu our opiniott..
the iThfornalion giver) in the Rep￿￿ of thc Trn5tce5 is in¢on$istenÈ in any material resr*d the financial stst¢rn¢nt5:
or
sufficicnt awounting r¢cords have nor been kept. OF
the financial stsiemenis are t￿t ID agreemeni with the accounting r¢coTds and returns,. or
we have not received 211 the informalion and explan&lions we requiTC for our audit.
Pagc 5

REPORT OF THE JNDEPENDENT AUDITORS TO TIIE TRusfEES OF
MAGDALEN AI¥D LASHER CHAIUTY GENERAL FUND
Responsibllilies ol trustees
As explain￿ more fijlly ID the Statement of Trnstees, Respons1Thilitie5, the ttuste¢s are responsible for the preparation of
thr financial stst¢menis which give a tnLC and fair view, and for Swh internal control as the ttustecs delcrmin¢ is
Jiece55ary to etsable the preparation of financial statements are free from ma¢¢rial mi5ststeJDeni, whetlw due to frdud
or effor.
In preparing the finan¢ial statemelll¥. the trustees ate responsible for &£5CSSttig the charity's ability to continue as a going
¢onccrn, dis¢losing. a5 &ppli¢abl¢, matters reloi¢d to going concern and using the going con¢em basi5 of accounting
utt1￿ th¢ ttwtccs eith¢r intend to liq￿l(late the tharity tr to cuse operation4 OT hsve no realistic alternative but kn th) so.
Our ruponslbilities for the Audit of thÈ fiDaneial sl*te)Mnls
We knave been appointed a5 auditDrs ut)der S¢¢tion 144 of the Charities Act 2011 aDd r¢port in accordance with thc Ac¢
and rel¢vani re8ulations made or ￿8￿ng effect thercu]￿JCr.
Our ohjettjvcs are io d)tain rcasonable assurdDCC abour whether the financial ststements ￿ a whole are free from
material misstat¢menL wbeiber due to fraud or em)r, and to i55ue a Report of ihe Indq)cndent A￿di￿r% that itKlude5
opiniot). Reaso￿ab]e assurdnce is a high level of assuran¢¢, but is not a guar&t)tee that an alldit conducted in a¢¢ordallce
with ISAS (UK) will always deixt a mateTLal misslaiement when it exists. Misstatements can aris¢ from fraud or ¢Tror
and are considered mat¢rial if. individually or in thc aggre8ate, they ¢oukl rcasonably b¢ expect¢(J to infiu¢n¢¢ the
economic decisions of us¢15 ¢ak¢n the basts of th¢s¢ f]nan¢iai ststernents.
Th¢ extenl to whith our procedvres are capabl¢ of dekcting irregulariti￿ including fraud is detsiled b¢low'.
We have a5s4ssed the sus¢eptibiltty of tk tniity's financial statem¢nts to material misstatement, Includiti8 how fra￿1
rnigljt o¢¢w, &s low by way of en4uiry, pnor knowledge and cU￿¢￿t analytical review and ￿ting
We hov¢ &)qllml with managemellt and those cbargd with governance lo obtain an Understa￿dIng of th¢ legal and
reglllatory fram¢work applicable io the entity and, through our audit le5ting. our findings have confirn)ed that the eBtity is
complying with th¢ relevant frameworks
We hav¢ ¢nquired with rnanagem¢Jbt and those chargcd with 8overnon¢¢ to obtain an understsnding of th¢ entity's
rM>licie5 aTJd procdures Te121in8 lo compliaDC¢ Wtth laws and re8ulation5. Through our Icsting> we have reviewed all
relevant docum¢ntstiOn aDd confim] that there have been llo ill5tanc¢s of non- compliaAC¢
Throll8h enquiry. analytical r¢view and substJniiv¢ t¢sting we have obtained an undcrsrarKlin8 of the ￿tityS policies alld
proc¢duies ots fraud risks, iwluding knvwl¢dge of any aclual, suspected or allcgcd fraud.
We have ¢onfinned thai th¢ engagen]ent l¢am collectively had the appropriate cornpeten¢e and capabilities ¢0 identify or
rrfognise non40nwliance wilh laws and regulahons ond fraud
Listed above is tb¢ extcnt of wo¢¢duT¢S we hav¢ tsken to dewt mat¢rhal misslaiem¢nts in respect ori￿eS￿l8Tilie8,
incl￿11￿8 fraud, to whi¢h we have found no iDslan¢es.
Becau$¢ of tbe Inh¢￿ttl limitations of an audiL there is a risk that we will detect all irrcgulariiie5. in¢ludit)g those
l¢&ding to a material misstatement ID the finatjcial s￿ementS or non-compljante with regulatio￿. This risk Ancreases the
more that compliane¢ witb a law or r¢gulation Ès t¢n]oved from the ev¢nls and transactio￿S reflected in th¢ finantial
statemeDlS, &$ we will be Iws ]￿elY to beconhe aware of Jn5tsnces of nott-compliance. The risk is also grea￿ regarth.ug
irregularilies v¢¢uryin8 due to frAud rtyiher than ¢mir, ￿ fraud involves inlcntional ¢on¢e4]menL forgery, collusion,
om155ion or misrepie5elltaiion.
A fL￿be[ description of our responsibililies for the audit of the fllon¢iai slaternents is l(Katsd on tlje Financial Reponing
Council'5 wcbstte at www.fr¢.or8.uklauditorsr¢sponsibilities. This dcsuiplion forrns part of our Report of the
Ind¢￿TrI￿1 Auditors.
Pag¢ 6

REPORT OF THE INDEPEli"DENT AUDITORS TO THE TRUSTEES OF
MACDALEF4 AND LASHER CHARITY GENERAL FUND
Use re￿rt
'S 15 made 801ely to the ¢iwitl$ tNste¢8, 8s a body, in a¢wdance with Pon 4 of thc Cbarities (Accounts and
Repo￿} Regulalions 21M18. Our audit ha5 bcen und¢rtaken 50 tIMt we might state to the charitys tTus1¢¢5 Ihose
matter8 we are requiT¢d to state to them in auditors. report and for no other pU￿Ose. To thc fullest extent pemiitted by
law. w¢ do not accept OT I￿$UMe r￿pOnsibility to atlyone other thaTh the chariry and the charity's trnstee5 as a body. for
our •uditwork, for this r¢por4 or for the opinioD$ we have fomitd.
fA¥c-sLf Llif
Acuity Professional Partnasbip LLP
Unil 2.Q2
Higb Weald Hous¢
Olovers End
B¢xhJ]I
Ea51 Sussex
TN39 SES
Page 7

MAGDALEN AND LASILER CHARrrY CENERAL FUND
STATEMENT OF FINANCL4L ACTTVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrtslrlrted
fund
21123
Totsl
fwids
Notes
INCOME AND ET¥DOWMENTS FROM
DoJJations And legacie5
i.o(MJ
Jnvestmcnt In￿Me
540JIO
528.922
Totsl
541,810
528,922
EXPEf4DITURE or4
ChAYitable #ftlvlti
Grallts in Aid
Pe￿ion¢￿$ Christmas Bonus
HARC4lutr¢acb worker
GovcrnaDc¢ Cosrs
Support Costs
Pensions
111,52]
9,450
57,939
3,216
28982
71,750
657.168
57.295
2,952
33,414
72.580
Investtnent property cost
132031
107.691
Totsl
515,689
937,040
Net gaiThslOosses) on inveskncll15
889.543
(393,777)
NET INCOMEIIEXPENDfruRE)
915.664
(801,895)
RECONCILIATION OF FUIYDS
Totsl fil￿1$ brought fonvard
1S670,73J
16,472,628
TOTAL FUl+lDS CARRIED FORWARD
16J86J97
15,670,733
Th¢ notes fomi part of these finartial gtaleD)ents
Pag¢ 8

MAGDALEN AND LASHER CHARITY GENERAL FUND
STATEMENT OF FtNA]¥CIAL POSITIODI
31 MARCH 2024
2024
Total
f￿ndS
2023
Tot#1
funds
Notes
FIXED ASSETS
Investments
InVe51M￿lS
Invesimeni property
10,62&821
5.699,761
9,839,278
5.609.500
J6,32&582
15,448,778
CURRENT ASSETS
DebtOTS". amounts falling due within onc ycar
Cash atbat)k
io
5&774
209971
12,658
216,560
268.745
229218
CREDITORS
Amounts falling due within one year
(10,930)
17263)
ET CURREKf ASSETS
257,815
221,955
TOTAL ASSETS J,ESS CURRENT
LIABILITIES
16,586,397
15,670,733
NET ASSVTS
16,586.397
15.670,733
12
Unr¢slli¢ted funds:
G¢neral fund
16.586J97
15,670,733
TOTAL FUNDS
J6,586J97
15,670.733
Tr r]na￿la1 statements were approved by the Board of Trnslees and authori5cd for issu¢ on .. ...
and were signed on its behalf by..
MT C Galbraith- Trusttt
The notes form part o*these financial staiem¢ttts
P￿¢9

MAGDALEN AND LASHER CHARITY GENERAL FUND
STATXMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH ZI124
21124
2023
Notei
CA5h Ilows from operating #dlwltles
Cash generated from op¢rations
(307,675)
(700,430)
c&th used in op¢ralin8 activiti¢s
(307.075)
(700,430)
Ca$h nows from Inve5tittg aetlvities
Purchase of inv¢sDnent prop¢rty
Stle of r￿ed asset investments
"vidends r￿1Ved
(911.261)
IDo,000
291.147
426,468
292.363
Nd cash provided by investing activities
301,1186
718,831
Cbange in tash •Nd ¢gah equlvalents In
the reportfing period
CA$h Ind ¢Ash equlYalent$ at the
begSnDing of the reportlDg period
{W9)
18,401
216J60
198,159
Cash #nd ¢Ash equtY#lent$ at Ibe end of
the reporting perlod
21J9971
216,560
The notes fonn part of these financial stai¢ments
Page 10

MAGDALEN AND LASHER CHARITY GENERAL FUND
NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR EIYDED 31 MARCH 2024
RECONCILIATION OF NET INCOMEIIEXPENDITURE) TO NET CASH FU)W FROM
OPERATING AcfivITIES
2024
2023
Nel In¢omtl{expenditure) for the reportlng perlod (*$ p*r the
StxtemeMt of Fln*n¢l•l Actlvldes)
Adjustments for.
{GaiTr1110ss¢5 on invesunents
Divid¢uds received
Ilncreaselldecrease in dei*or$
In¢reasel{d¢crea5e) in Creditors
915.664
{801,895}
(889543)
(291 J47)
(46,116)
J,667
393,777
1292,363)
3.553
(3,502}
Nel elsh Ms¢d in oper#tions
1307,675)
{700,430)
ANALYSIS OF CHANGES IN NET FiJNDS
At IA.23
Cash now
A¢ 31.3.24
Net C*5h
Cash aibaDk
21(560
(6.589)
211Y,971
2Jfj560
{6,589)
209,971
Totsl
21A560
{6.589)
209,971
The no￿ fomi part of these r]Dancial s*atem¢nts
Pagell

MAGDALEN AND LASHER CHAIUTY GENERAL FUND
NOTES TO THE FINAfiCIAL STATEMENTS
FOR THE YEAR ENDED JI MARCH 21124
ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial stattmtnts of the ¢hariry, which ts * publi¢ benefit entity ￿der FRS 102, have b¢en pr¢par¢d in
attordance with th¢ c.harities SORP (FRS 102} 'Accoullting and Re￿rtillg by Charities.. Statemetst of
Reio]Jmiended Practice applicable to ¢haTities preparing their accounts itt a¢coTdan¢e with th¢ Financial
Reporting Standard appli¢abl¢ in thc UK and Republic of Ireland (FRS 102) leffeclive l January 2019y.
Financial Rcporring Standard 102 The Financial Reponing StaDdard applicable in the UK and Republic of
]relattd' and the Charities Ad 2011. The financial slatements have been prepared llnder thc historiesl cost
Convention. with the ¢x¢¢ption of investments which intludcd ai market value, as m(Kiified by the revalvation
of certain ass¢is.
The adthess of the principal pla¢¢ of operation is given in the ¢haTJ"ty Infom￿¢10￿ ap￿￿ed ￿ these financial
51a¢ements. The natur¢ of the charitys opcrdtioJJs and principle 8divities are sboww in the rq>ort of the tn15ttts.
The financial statements are prq>ared on a going coDcern basis wider th¢ histori¢al eost conyention. Tnodificd
in¢h]de certain it￿S al fair value The fuLan¢ial statements arc PTes¢nted 51crling which ts th¢ fi]nctiona]
currency of the Cbarity at)d Toundcd to the n¢arest £1.
Th¢ signtficant a¢rounting policies #pplt¢d in the prep￿11(￿ of these finatKial Btsternents are sel out below.
Th¢5e poli¢i¢s have bcen consist¢nily applicd to all years presented unless ot1K￿lS¢ st*ed.
IYCOMING RESOURCES
All incoming rcsources 4)r¢ included in the St8t¢m¢nt of Fithan¢ial Activilics {SoFA) whcn the rharity 2s legally
entiiled to the income after any performance Condiiions have been tnet, the arno￿t can b¢ measured reliably and
Ét 15 probable that tbe illcom¢ will be received.
FOT don8ti¢)os to ￿ r¢roBmisa the ¢h•n"ty Mll have been notified of the amounts al￿ the 5ettlemellt dale ill
writing. If thwe art conditions attached to th¢ donaiion ll[￿ this T¢quires a level of perfonnan¢e befor¢
enti¢leTneni ¢an be tsbtained then the in¢om¢ is deft￿¢d until thos¢ conditions are fully Met or fiilfilm¢nt o
those conditions is within Ihc Control of thc charity and li ts probable thai ih¢y will be fulfill¢d.
For Icgacies, ¢ntiilemenl is the ¢arli¢r of the charily being notifi¢J of In impeThJing disthblllion or thc legacy
beitig ￿e1Ved. At this point income i5 ￿0g￿$th. On occa%ion Ic8acies will be nOtif￿d to the cbarity how¢v¢r it
is t)ol p05$ible to measur¢ the aT)M)uttl expected io bc distributed. On these occasions, th¢ kgaey is treated as a
conting¢nl a&8el and disclosed.
Investhlent irKomc is e8n)ed through h)Idn)g &85ets for invesknent ws¢s such a5 5haTe5 and propery. It
includes divid¢JKl$. inierest and rent. Where it is praclieable lo identify invcslment management costs incuwred
witbiti a scheTne with r¢as(m?ble ac¢ura¢y the inve5tsnent it)come is reptsrted net of th￿t costs. it is includ
when tIK amouni Qan be measured reliably. Interest income 18 r¢¢0gnised using the effc¢iiv¢ intere8t Meth￿ aThJ
dividend al￿ reni in¢om¢ is r¢co8nised a$ the charity'5 righi to r¢viYe p8yrneni is estsbli5hed.
EXPENDITURE RECOGNITION
All ¢xpendi¢ure is accounted for on an accruals basis alld has bern ¢lassified under headings thal a¥gTe8ate all
costs related lo iht ¢at¢gory Expendiftire Is recogn15ed where there is a leg31 ot constructive obligation to make
paymcnts ￿ third partie5. il 1$ probable that the setd¢ment will be 1¢4Uited and the amount of thc obligation c&
be meawred reliably. Li is ￿tegOrised under th¢ followingl]eadings,'
Costs of raising fund5 in¢l￿teS expeDs¢s direcily related to fimd raising such as advertising a fundraising evenl
expendilwe on charitabl¢ aclivilics includts ¢xw)ses involvcd in th¢ rnnnillg of rhuriiable projecls, such a5 ¥thff
salaries and other expthditure represents those itents not falling into the c￿egoTi¢$ above.
INVESTMENT PROPERTY
Investments are slated at mark¢t value al Ihe balatKe sheet dal¢. The realised and unT¢alis¢d gain$ and lo&%es are
i￿]uded in the Sts*ment of FiTkngn¢iai A¢tivities.
Pige 12
¢4)ntinued...

MAGDALEN AND LASHER CHAIUTY CENRRAL Fuf4D
NOTES TO THE FINANCIAL STATEMENTS- ¢OL4tiE)lle41
FOR THE YEAR Ef4DED 31 MARCH 2024
ACCOUNTING POLICIES- contillued
TAXATION
The Company 15 a iegislcred charity and no liaknlity IO tax 2riS¢S.
FUND ACCOULYTJNG
Unttstricied fr￿dS aTe available for ￿se at the discretion of the trustees iti fiwtherance of the g¢neral objectives of
the ¢haTity alld which have noi bcen de5ignat¢d for other purposes.
Designating funds Lompris¢ unrestricted fimds that havc been s¢1 8sule by the m￿ee8 for particular purposefj.
The aim and use of ¢￿h des1￿￿¢¢d rw￿ is Set out in the retth of trnstees..
Restricted fi]nds are fund5 which are to be used in a¢cord8nce with specifi¢ r¢strictiolls Impos￿ by the dollor5 or
which have been rais￿ by th¢ ¢harity for particular puryoses, The cost of raisLLg and administering such fimds
are charged againsi th¢ speGifi¢ fimd The al￿ attd use of ¢ach sp¢¢ifi¢ ￿lld is set out in the notes io the fmancial
51atemcnts.
DEBTORS
Debior8 are re¢ogllised at the setllement amount due.
CREDITORS
CFeditOT5 are recogni5ed where the charify has a PT¢s¢nt obligation r¢sultin8 fro￿ a past event thai will probably
result En the transfer of fimiLs to a third party and the amount du¢ io settle ih¢ obligulioD can b¢ measurcd or
estimated r¢liably.
GOING CONCERN
The financial 8tsteDKnts hav¢ been ]x¢pared on a goiEJg ¢on¢ern basis a5 the INsi¢es believe that no m&ierial
uncertaiT)ties ¢xi$i. The tnjstees have considered the levcl of funds held )rÈd thc cxpccieil l¢vel of incomc and
expendiiur¢ for 12 months from authorisinB thcsc fmancial Ststsments. Thc budgetrd incorne gnd exp¢nd1tt￿¢ is
Sufficient with the level of reserY¢s for the charty to b¢ able to continue as 8 80ing C￿¢¢￿.
FIXED ASSETS INVESTMENT
Fixed assct invc5tTnents Ar¢ Inltially me&sur¢d at ¢ra]m¢iion txcluding traDsaclion and ar¢
subSeqU￿tIY meawred at fair valu¢ at each reponiJ)g date. Changes iti fair value are reCo￿ls¢d iD net
in¢omel(¢xptnthture) forth¢ year. TTan5a¢atioD ¢osts are exp￿$¢￿ Ls incurred.
DONATIONS AND LEGACIES
21124
2023
Donation$
Pag¢ 13
continued...

MAGDALEN AND LASHER CHARJTY GENERAL FUND
NOTES TO THE FINAIYCJAL STATEMEf4TS- Conti￿lled
FOR THE YEAR ENDED JI MARCH 2024
INVESTMENT INCOME
2024
2023
Rent$ received
Divid¢t)ds
249,463
291.347
236,559
292,363
5411,810
528,922
CHAIUTABLE ACTIVITIL8 COSTS
Support
eosts (lee
ote S)
Direct
Costs
T•ta]s
Grants in Aid
P¢nsioner's Christtllxs Bon
HARC-Ouireach workeT
Govemance Costs
Support Costs
P•)stons
211,521
9,45
57.939
211021
9,4511
57?39
3,216
28,982
71,750
3,216
28,982
71.750
350,660
32,198
382,858
SUPPORT cosrs
Other
support
eosts
Govern*tt¢e
cost$
Fin•Dce
Tot8ly
Governance Costs
Suppon Costs
3,216
3.216
28982
28.296
28.296
3,216
32,198
TRUSTEES, REMUNERATION AND BENEFITS
Th¢Te were no Iriist¢¢5' re]nunC￿ll0n or othcr b¢n¢fil$ for the year ¢nded 31 March 2024 nor foT the year ¢thJed
31 March 2023.
TRUSTEES. EXPENSES
During the year no Trust¢c has bccn reiTnburs¢d for expenses totalling £nil12023- £nil).
Page 14
C4)ntiDucd...

MAGDALEN AND LASHER CHAIUTY GENERAL FUND
NOTES TO THE FIIYAf*CIAL STATEMENTS- ¢ontiDued
FOR THE YEAR EMPED 31 ￿L4RCH 2024
COMPARATIVES FOR THE ￿ATEMENT OF FINANCIAL AcfiviTIES
U￿restrIcted
INCOME AND ENDOWMEhTS FROM
InveS￿ent incoTnc
528,922
EXPENDITURE ON
Chkrltlble ￿tti￿tieS
Grants in Aid
PeDsionerfs Christmas Bonus
HARC-Outreach worker
Governallr¢ G)stS
Supwt Costs
Pension5
657,168
S,940
57295
2,952
33.414
72,580
Investtneiitpropeny eost
107,691
Totsl
937,040
Net gainsl{losses) ort invc$tmeTEts
{393,777)
NET INCOMEI(EXPENDITURE)
{801,895)
RECONCILIATION OF FUNDS
Total fund5 broygbt forward
16,472,628
TOTAL FUNDS CARIUED FORWARD
15.670.733
FIXFD ASSET INVESTMENTS
Listed
iDvestmtnts
M*rkel valu¢
At l April 2021
Disposa]s
Revo)llations
9J139.27
{1￿,000}
889J43
At 31 March 2024
10th28.821
et book value
At 31 Marcb 2024
10.628.821
At 31 Marcb2023
9,839,278
There were no inv¢stmcnt assets outside the U
Pag¢ 15
conlinued...

MAGDALEN AND LASHER CHARITY GENERAL FUND
NOTES TO THE FINANCIAL STATEMENTS- Co￿tInu¢d
FOR THE YEAR ENDED 31 MARCH 2024
FIXED ASSET INVESTMENTS- continued
Coslor valuation Ml 31 March 2024 is repres¢nted by..
Listed
investments
Valuation in 2022
Valuatiotj in 21Y23
Valuatioth in 2024
10,114,606
(375J28)
889.543
ID,62&821
INVESTMENT PROPERTY
Falr value
AT l April 2023
AdditlODS
5ffj09,5011
90,261
Ai 31 March 2024
5,699.761
Net book value
At 31 March 2024
S,699,761
At 31 MaT¢h 2023
5.609,50(
Th¢ aknv¢ inve5tm¢nts are IKld pn'm8rily for rentsl ineorne as part of cbaritsble activitiu but also provide a
return on investments in the ¢veDt of a sale.
The investment properties lapan from 103 Bohemia Road) were valued by Sman Property Solutions as at 17th
Sepiember 2019. In January 2021 Smart Properly Solutioas mcrged with Oakficld Esiate Agents, who are now
th¢ Charit￿$ r¢Dtsi a8ents. have no other ¢tsnn¢ction to the Tnthee5.
The Trust¢es awcd the wd]uation for 103 Bohemia Road.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Otherd¢btors
Reni arreaTS
54,696
4,078
8,580
4,078
¥774
11658
Page 16
continued...

MAGDALEN AND LASHER CHARJTY GENERAL FUND
NOTES TO THE FINANCIAL STATEMENTS- eontlDued
FOR THE YEAR Ef4DED 31 MARCH 2024
ii.
CREDITORS: AMOUNTS FALLINC DUE ITrITHtN ONE YEAR
2014
2023
Other cr¢th'tor5
Unpaid Lryants
Accruals deferred income
1.000
3.467
2,796
11930
7,263
12.
MOVTr.MENT IN FUNDS
Net
movement
In fund$
A¢
31.3.24
At IA.23
Unre5trirted fund
General
IS67O,733
915,664
IA586J97
TOTAL Fuf4DS
15,670,733
915.064
1&586J97
Net movemeni in funds, included in the abo￿ as follows..
IDeomSng
resourc¥s
Resourtt5
expended
GaiN$
10$ges
Movernettt
in
Unrestrfcted funds
GeTLeral fund
541JlO
{515h89}
889&13
915,664
TOTAL FUNDS
541,8111
(515,6119)
889y3
915,664
Comp8r¥tivea for movtment ID fund5
Net
movcmellt
funds
At
31J.23
At 1.4.22
VDrestrl¢ted fllndi
G¢t)erdl fvnd
16,472,628
{801.895}
15,670,733
TOTAL FUNDS
16,472,628
(801,895)
15.670.733
Page 17
continued...

MAGDALEN AND LASHER CHARITY GENERAL FUND
NOTES TO THE FINAP4CIAL STATEMENTS- eontinued
FOR THE YEAR ENDED 31 MARCH 21J24
12.
M0vEr+￿￿T IN FUI¥DS- toththved
Comparative nei rnovemenl in funds, lncl￿dCd in the above are as follows..
IDeomlDg
r¢sourtes
Rrs(*urees
expended
Galn$ and
1085
MovtmeHt
ID funds
Unrestrtcted funds
GcDerdl fund
528,922
(937,040)
1393,777)
(801.895}
TOTAL Fuf4DS
528,922
(937,04Q)
(393,777)
(801.895)
A current y¢aT 12 mtsnths and wior year 12 mojjths combined position is as follows-.
Net
movtmemt
At
31J.24
At IA.22
UDre5tr1cted fuDd$
General fimd
16,472.628
113,769
16.586.397
TOTAL FIM)S
16,472,628
113,769
16,586.397
A curr¢nl yeat 12 month5 and pnor year 12 months combined Move￿¢ll1 in fimds, included in the above are
as folluws..
Resour¢
expended
GalDS and
I￿$¢5
Movtment
fund$
re$ovrtei
Unrestricted funds
General fund
1,070,732
{1,452,729)
495,766
113,769
TOTAL FUNDS
,070.732
{1,452,729)
495.766
113,769
13.
CAprrAL COMMITMENTS
There were no Lapitsl ¢onunitments at th¢ lirn¢ of.%igning thi5 report.
Pag¢18
ciTrnlinued...

MAGDALEN AND LASHER CHAR]TY GENERAL FUND
NOTES TO THE FJNANCIAL STATEMENTS- Contioued
FOR THE YEAR ENDED 31 MARCH 2024
14.
RELATED PARTY DISCLOSURES
The Trusteei arc also responsible for thc activitie5 of Magdalen and Lath¢r EducalioTJal Foundation and
Magdalen & La$her- Old Hastings Hou54 Charitabl¢ Iworaied Organisation.
DuriJ)g the yearthe clwity had the following related paty tran&qctii)ns.'
Magdalen and Lasber EthicatioDal Foundation
Contribution for insurdnce costs of £xxx {2023- £17151
Magdalen & Lasher- Old H￿ting$ Hous& Chatitable Jncotyorated Organ15ation
Contiibulion lo payroll costs of £xxx {2023 - £20.657) and contribution to offJc¢ costs of £xLx {2023- £11.414).
A gTaDt of (2023- £499.883) wa$ also 8waTded to C4)v¢r the Costs of the ongoin8 builditig extension works.
These rransarti4)rts w¢r¢ respect of charitable purypos&% and in 8ccordan¢e with the charitys obje¢ls.
15.
GAINS I(LOSSES) OF4 IfwESTMENTS
2024
2023
thr￿11$*d
Revaluation on r￿ed asset investmcntS
Reailsed
S5 on disposal of f￿¢d ossei inv¢stnxnts
Totil (LfjsillGaln)
889,543
{375,3281
xxx
(18,449)
16.
GRANTS
Dwing the yeAr grants to instimtion% amounted to £xxx (2023 - £657,168).
The above amount ftll¢lud¢s a grant of £xxx (2023 - £499.883) awarded to Magdalen & Lasher - Old Hasting5
House. Please se¢ the related paTly note for fiJrthcT details.
Page 19

MAGDALEN AND LASHER CHARITY GENERAL FUND
DETAILED STATEMEf4T OF FINANCIAL ACIIVITIES
FOR THE YEAR ENDED 31 MARCH 21J24
2024
2023
INCOME AND ENDOIIIMFP￿S
legacles
Donations
I,fWO
lttYestmeDt Income
Rents received
Dividend$
249,463
291.347
236.559
292.363
54O,¥1
328,922
Totsl Incoming resources
541,810
528.922
EXPETrIDITURE
Ch•rf¢abl¢ 4cdvitffies
HARC. Outrea¢h Worker contributlon
Pensionevs bonus
Pensions
GTants to iDStithllOt
87,93Y
57,295
5.940
72,580
657,168
71.750
211,521
350,660
792,983
Investment property cos¢
Insurance
Expendiwre 4)n properties
Rent collection
Pro￿rtY Twits
Lega] f¢¢s
10,2J4
24,879
32.243
60,7116
4,689
3,673
656
30,889
68,286
4,187
132,831
107,691
Support costs
FiDante
Bank ¢h2rg¢s
613
Other support Costs
Sundries
M&L contribuiion ￿ OHH offLCC
M&L ¢thitribulioJi to OHH paytoll
593
9,5119
18.194
7,639
5.032
20.130
28396
32.801
Govern&D¢e co8ts
Audit fee8
3,216
2,952
Thi5 page dues not f(Trnn part of the statytory f]nancial statements
Page 20

MAGDALEN AND LASHER CHAIUTY GENERAL FUND
DETAILED STATEMEJ¥T OF FINANCIAL ACTIvifJES
FOR THE YEAR ENDED 31 WCH 2024
2024
2023
Total r¢50urces expended
515,689
937.(140
Ntt IheomeJ(¢xpeDd5ture) before galns attd
20,121
{408.118)
Reallied rttognlsed galDS 10s8e$
Realis¢d 8ainsl{losses) orj r￿ed 8$set investments
{18,449)
l%tt ineornel{¢xptnditDre
26,121
(426.567)
This page doe5 Dot form p2rt of the slatulory financial stst¢m¢nls
Page21