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2022-04-05-accounts

The Beatrice Laing Trust - A Registered Charity

Report and Financial Statements

5 April 2022

The Beatrice Laing Trust - A Registered Charity

CONTENTS

Page
TRUSTEES' REPORT 1-8
REPORT OF THE AUDITOR 9-10
STATEMENT OF FINANCIAL ACTIVITIES 11
BALANCE SHEET 12
STATEMENT OF CASHFLOWS TS
NOTESTOTHEFINANCIALSTATEMENTS 14-27

The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

The Trustees present their financial statements and annual report for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed dated 29 September 1952, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) and update Bulletins 1 & 2.

Reference and Administration Details of the Charity, its Trustees and Advisors

Settlors John William Laing -deceased
Beatrice Laing - deceased
Date ofDeed 29 September 1952
Trustees SirJohn Martin Kirby Laing
David Eric Laing
Christopher Maurice Laing
Paula Joan Stephanie Blacker
Charles William David Laing
Alexandra Catherine BeatriceJane Gregory
Registered Address c/o Laing FamilyTrusts
33 Bunns Lane
Mill Hill
London NW7 2DX
Nature of Trust Registered Charity No. 211884
Website www.laingfamilytrusts.org.uk
Bankers National Westminster Bank Plc
Edgware (B) Branch
317 Hale Lane
Edgware
Middlesex HA8 7AX
Accountants TMF Global Services (UK) Ltd
960 Capability Green
Luton
Bedfordshire LU1 3PE
Auditors Mercer& Hole LLP
72 London Road
St Albans
Hertfordshire AL1 1NS
Investment Advisors Vermeer Partners
130 Jermyn Street
London SW1Y4UR
Director Miss EA Harley
33 Bunns Lane
Mill Hill
LondonNW72DX

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

Trust Objectives

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(a) Income
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(b) Expendable endowment
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To charitable purposes.

To be retained by the Trustees, or at their discretion, applied as for income.

Investment Powers

Results

Structure, Governance and Management

Unrestricted.

The gross income of the charity in the year to5 April 2022 was £2,865,986 (2021 £2,337 889). Charitable grants from unrestricted funds of £2,026,987 were made in the year to S April 2022 (2021 £2,546,612). Also, from Restricted Funds, grants of £104,500 were made in the year to 5 April 2022 (2021 £181,250). The Beatrice Laing Trust was established in 1952 by Sir John Laing and his wife, Beatrice. The Trust Deed makes provision for a minimum of 5 trustees and a maximum of 7. At present there are six Trustees, all of whom are members of the Laing family and therefore uniquely placed to carry forward Sir John’s principles of Christian philanthropy, a legacy which was marked later in 2022 when the J W Laing Trust, the first of the charitable trusts which he set up, now administered by the Stewards Company, celebrated its centenary with a special service at All Souls Church, Langham Place. The power to appoint new trustees is vested in the continuing trustees; the Trust Deed makes provision for appointments to be made from nominations submitted in rotation by the descendants of Sir John and Lady Beatrice Laing, the Stewards Company Ltd, IFES, and the Crusaders’ Union (now known as Urban Saints). Policies and procedures for the induction of new Trustees are in place. The Trustees are currently in the process of reviewing the Trust Deed with a view to making amendments that will ensure that they have a modern, comprehensive governing document to take the Trust into the future.

The Trust is administered alongside the Maurice & Hilda Laing Charitable Trust, Kirby Laing Foundation and Martin Laing Foundation, and shares its administrative staff and office space (which is owned by the Reculver Trust) with them; collectively they are known as the Laing Family Trusts. A Memorandum of Understanding sets out the basis upon which administrative costs are shared. An application to any one of the Laing Family Trusts is treated as an application to all, although after initial review applications considered suitable for further consideration by the Beatrice Laing Trust follow the Trust’s own administrative procedures and decision-making processes. Application is by letter and the grant application process, guidance on which appears on the Laing Family Trusts’ website, is designed to be as simple as possible while drawing out the key information required for a decision. The day-to-day administration of grants and the processing of applications prior to consideration by the Trustees, including meetings with applicants and project visits where larger grants are contemplated, have been delegated to the Trust Director, supported by her small team of staff. The Trustees have also delegated the power to make grants of £10,000 and below to the Trust Director; these grants are made on a monthly basis and ratified by the Trustees at the following meeting. The Trustees meet three or four times a year to approve the distribution of grants, reflect upon their grant-making strategy, consider the performance of their investment portfolio and review policies on reserves and risk assessment.

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

Objectives, Activities and Public Benefit

The Trust’s objects, as set out in the Trust Deed, are the advancement of the evangelical Christian faith, both at home and abroad, and the relief of poverty; these are achieved through the Trust’s grant-making programme, which remains its only charitable activity. The Trustees continue to support a wide range of charities working to relieve poverty in its broadest sense, both throughout the UK and overseas. In doing so, they confirm that they have referred to the Charity Commission’s general guidance on public benefit. Grant recipients include organisations working with disadvantaged children and young people, the elderly, the homeless and those with physical, mental health or learning difficulties, whatever their religion, ethnicity or background. These groups were among those disproportionately affected by the Covid-19 pandemic and measures necessary to combat it. The same is likely to be true of the cost-of-living crisis and the Trustees will therefore continue to explore ways of supporting those charities and churches experiencing an increased need for their services as a result. Evidence suggests that churches madea significant contribution to social welfare provision during the Covid-19 pandemic and the Trustees believe that there is a continuing, and potentially increasingly significant role for churches, both as places of worship and as a hub from which support is provided to the local community, with churches at the forefront of the Warmer Places Initiative. With this in mind, the Trustees continue to support projects of new church building, extension or redevelopment, focusing on churches which can demonstrate active outreach to the local community, both in communicating the Christian message and helping to relieve poverty by meeting social need. Many of these projects were previously supported from funds made available to the Trustees by the J W Laing Trust; this agreement came to an end during the year under review but support for the advancement of the evangelical faith through church building and social action programmes will be maintained.

The Trust’s grant-making programme is financed by income derived from the Trust’s investment portfolio, which is managed by Vermeer on an advisory basis and in line with the guidance of the Church of England’s Ethical Advisory Group. Their performance is reviewed, and measured against published indices, on a regular basis. The objective continues to be to seek to maximise dividend income from the existing capital. Options for the investment of some of the Trust’s reserves of unexpended income in social investment models are being explored and in May 2022 the Trustees completed the purchase of a three-bedroom house in Bury St Edmunds which will be leased to the charity Hope Into Action for a minimum period of five years, during which time it will be used to house a family at risk of homelessness, supported by Selig Suffolk (Hope Into Action Ipswich) and volunteers from St Edmundsbury Cathedral. The property is currently undergoing refurbishment.

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

Achievements and Performance

Excluding the final grants made from J W Laing Trust funds (49 grants totalling £104,500), 235 grants were awarded during the year under review. They totalled £2,026,987, a reduction of £525,752 (26%) on the previous year, A list of all 235 grants is provided in note 8, from which it will be evident that the greater number of grants continue to be for amounts up to £5,000, representing either modest grants towards the core costs of organisations working nationally within the Trust’s priority areas of giving or small capital grants to local organisations working to relieve poverty in their local communities. Charities offering support to the most vulnerable and disadvantaged in society, including the homeless, elderly, former Servicemen and women, ex-offenders and people with disabilities and their families, all continued to receive support. An increasing number of these were Christian organisations seeking to express Christian faith through practical action to help those in need. Recognizing the difficulty that some such organisations, despite the diversity of their client group and inclusive nature of their operations, can experience in securing funds from certain sources, the Trustees joined with fellow members of the Christian Funders Forum as matched-funding ‘champions’ for the Together Fund, which supported 31 Christian charities making a positive impact in their communities to participate in The Big Give Christmas Challenge match funding campaign. A total of £501,143 was raised for these charities, a 5.0 multiplier on the Champion funding utilized in the campaign. This is a collaborative working initiative which the Trustees are pleased to confirm will be further extended for the 2022.Christmas Campaign.

Further details of all grants of £25,000 and above, broken down by category, are provided below:

Children &Youth £
Treloar Trust
OutdoorLearning Centre 30,000
Moor House School & College
Therapy& Specialist TeachingHub 30,000
Health & Medicine
The JPK Sussex Project
Supportedaccommodationforyoungpeople with learning
disabilities in Sussex 25,000
Stroud CourtCommunityTrust
SycamoreHouse DevelopmentProject 25,000
The Fifth Trust
Redevelopment ofSkills Centre 25,000
Oakfield (Easton Maudit) Ltd
Easton MauditRenovation Project 25,000
Overseas Aid
Sand Dams Worldwide
SandDam Programme- Ethiopia 25,000
Ripple Effect
EnterprisingMigori,WesternKenya 25,000

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

ieeete Achievements and Performance Religion £ - continued Diocese In Europe St Paul's Pro-Cathedral, Valletta - Restoration Appeal 75,000 National Churches Trust Repair Grants Programme 25,000 The St Michael and St George Fulwell Mission Initiative Redevelopment of St Michael's Church, Fulwell 30,000 Ringlestone Community Centre Development Group St Faith's Centre 30,000 St Mary's Church, Ely Building Transformation Project 30,000 The Gate Rebuild Project 25,000 Coventry Cathedral Development Trust Diamond Jubilee Endowment Fund 250,000 Social Welfare Housing Justice Faith in Affordable Housing - Catalyst Worker 30,000 Emmaus Brighton & Hove Electrical Rewiring 30,000 Off The Fence Trust Refurbishment of Premises for women’s Gateway Project 25,000 One YMCA Charter House Project, Watford 50,000 Included among these grants is an exceptional contribution of £250,000 towards a joint grant of £1.5million from the Kirby Laing Foundation, the Maurice & Hilda Laing Charitable Trust and the Beatrice Laing Trust to Coventry Cathedral towards the establishment of a permanent Diamond Jubilee Endowment Fund, the interest from which will be used on an annual basis to sustain the work of the Cathedral, whether through its ministry of reconciliation, musical traditions or maintenance of the buildings. This grant marked the Laing family’s close association with the Cathedral since John Laing Construction were commissioned to build the new Coventry Cathedral following the Second World War over sixty years ago and a number of the Trustees were pleased to attend the Cathedral’s Diamond Jubilee Thanksgiving Service in May. In order to assess the effectiveness of their grant-making programme, the Trustees ask all recipients of grants of £5,000 and above for a report 12 months after the grant has been paid, describing briefly how the grant has been spent and commenting as appropriate on what has been achieved. Most of the larger grants are only paid following the fulfilment of certain conditions, and some grants are paid in instalments, usually over 3 years. The second and subsequent instalments of such grants are not released until a review of progress has been satisfactorily completed and the Trustees reserve the right not to make payment should progress be deemed unsatisfactory. In general grants to overseas projects are made through UK registered charities which are tasked with monitoring and evaluating the use of funds on behalf of the Trustees. eeeee i

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT for the year ended 5 April 2022

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Investments

Risk Assessment

The worldwide post-Covid stockmarket rally continued, producing capital gains of £5,620,334 (8,1%) and an increase in dividend income, following the cuts of the previous year, of £608,296 (28.3%), After allowing for grant-related support costs of £87,949 and governance costs totalling £23,650, income exceeded expenditure by £620,849, increasing reserves of unexpended income from previous years to £7,396,149. The level of these reserves will vary according to the investment returns being achieved and the level of grant expenditure, but it is the Trustees’ intention that they should not generally exceed twelve months expenditure. The level of reserves is currently well above this which will enable the Trustees to continue to increase the level of their grant expenditure in the short to medium term.

The Trustees annually review the major risks to which they feel the charity is exposed. These fall into three main areas: protection of assets and income, integrity of the grant-making process and employment and retention of staff. Having carried out their annual review of these risks, including the impact of Covid-19 in each of these areas, they remain confident that they have in place systems and procedures which mitigate the risks as far as possible.

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The Beatrice Laing Trust - A Registered Charity

TRUSTEES' REPORT

for the year ended 5 April 2022

Statement of the Trustees’ responsibilities in respect of the financial statements

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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INDEPENDENT AUDITOR'S REPORT

to the Trustees of The Beatrice Laing Trust - A Registered Charity

Opinion

We have audited the financial statements of The Beatrice Laing Foundation (the ‘charity’) for the year ended 5 April 2022 which comprise Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

° give a true and fair view of the state of the charity's affairs as at 5 April 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; ° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ° have been prepared in accordance with the requirements of the Charities Act 2011, Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

° the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or ° the charity has not kept adequate accounting records; or ° the financial statements are not in agreement with the accounting records and returns; or ° we have not received all the information and explanations we require for our audit. Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement [set out on page 8], the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Auditor

The charity's auditor, Mercer & Hole, incorporated on 1 October 2022 to become Mercer & Hole LLP. The trustees have consented to treating the incorporation of Mercer & Hole LLP as a continuation of the existing audit arrangement.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charitles Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted In accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, Individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are Instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, Is detailed below.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

We gained an understanding of the legal and regulatory framework applicable to the charity and the environment in which it operates and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report {including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.

Audit procedures performed by the engagement team included;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities accurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentatian.

A further description of our responsibilities is available on the Financlal Reporting Council’s website at: https://www.fre.org,uk/OurWork/Audit/Audit-andassurance/Standards-and-guldance/Standards-and-guidance-for-auditors/Auditors-responsibilities-foraudit/Description-of-auditors-responsibilities-foraudit.aspx, This description forms part of our auditor’s report,

Use of our report

This report is made salely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity‘s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report,

Steve Robinson, Statutory Auditor

Mercer & Hole LLP Chartered Accountants Date: 5 January 2023

Mercer & Hole LLP is eligible to act as an auditor in terms ofsection 1212 of the Companies Act 2006.

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The Beatrice Laing Trust - A Registered Charity

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 5 April 2022

aee

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |-erame=|Unrestricted|Funds|------|Total| |Restricted|Expendable|Total|Funds| |Fund|Endowment|Income|2022|2021| |Note|£|£|£|£|£| |INCOME AND|ENDOWMENTS| |investments|2a|-|-|2,759,435|2,759,435|2,151,139| |Donations and|legacies|2b|106,551|-|-|106,551|186,750| |TOTAL INCOME|106,551|-|2,759,435|2,865,986|2,337,889| |EXPENDITURE| |Cost of ralsing funds|3|-|231,342|-|231,342|201,225| |Charitable|activities|4|104,500|-|2,138,586|2,243,086|2,830,391| |TOTAL EXPENDITURE|104,500|231,342|2,138,586|2,474,428|3,031,616| |NET INCOME/(EXPENDITURE)|BEFORE| |GAINS AND|LOSSES ON INVESTMENTS|2,051|(231,342)|620,849|391,558|(693,727)| |OTHER|RECOGNISED|GAINS AND|LOSSES| |Net|gains/{losses)|on|investments|11|-|5,620,334|-|5,620,334|11,658,625| |NET INCOME/(EXPENDITURE) AFTER| |GAINS AND LOSSES ON|INVESTMENTS|2,051|5,388,992|620,849|6,011,892|10,964,898| |NET MOVEMENT IN FUNDS|2,051|5,388,992|620,849|6,011,892|10,964,898| |FUND BALANCES BROUGHT FORWARD|5,500|62,584,167|6,775,300|69,364,967|58,400,069| |FUND BALANCES CARRIED|FORWARD|7,551|67,973,159|7,396,149|75,376,859|69,364,967|

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The Beatrice Laing Trust - A Registered Charity

BALANCE SHEET

as at 5 April 2022

2022 2021
Note £ £
FIXED ASSETS
Investments 11 73,963,027 68,552,704
73,963,027 68,552,704
CURRENT ASSETS
Debtors 12 35,663 -
Cash at bank 13 1,449,646 880,212
1,485,309 880,212
LIABILITIES: amountsfallingduewithin oneyear 14 (71,477) (67,949)
NETCURRENTASSETS 1,413,832 812,263
TOTALASSETS LESSCURRENT LIABILITIES 75,376,859 69,364,967
Representing:
UNRESTRICTED FUNDS
Expendableendowment 15 67,973,159 62,584,167
Income Account 15 7,396,149 6,775,300
RESTRICTED FUND 15 7,551 5,500
75,376,859 69,364,967

TOTAL ASSETS LESS CURRENT LIABILITIES

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The Beatrice Laing Trust - A Registered Charity

STATEMENT OF CASHFLOWS

for the year ended 5 April 2022

2022 2021
Note £ £
Cash flows from operating activities:
Net cash provided by (used in) operating activities 17 (2,400,012) (2,828,006)
Cash flows from investing activities:
Investment income 2,759,435 2,151,139
Proceeds from sale of investments 5,300,754 10,689,864
Purchase ofinvestments (3,953,384) (14,432,749)
Net cash provided by (used in) investing activities 4,106,805 (1,591,746)
Change in cash and cash equivalents intheyear 1,706,793 (4,419,752)
Cash and cash equivalents at the beginning ofthe year 1,130,688 5,550,440
Cash and cash equivalents atthe end ofthe year 2,837,481 1,130,688
Represented by:
Cash held within the investment portfolio 11 1,387,835 250,476
Cash at bank 13 1,449,646 880,212
2,837,481 1,130,688

As the trust has no borrowings, no analysis of net debt is included in these financial statements.

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The Beatrice Laing Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2022 SaSs 5Sg

  1. ACCOUNTING POLICIES

The principal accounting policies adopted are as follows:

a) Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) and update Bulletins 1 and 2, and the Charities Act 2011 and applicable regulations.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of fixed asset investments. The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. They have reached this conclusion based on unrestricted reserves and free cash being available to continue making grants and donations and paying administrative costs for a period of at least 12 months from the date of signing the accounts. In addition there are significant expendable reserves that mean that the charity will not face financial challenges for the foreseeable future that cannot be managed by prudent changes to grant making policies if required.

b) Fund structure

The expendable endowment represents the funds settled originally by the Settlor and the Trustees are permitted to apply the endowment as if it were income.

The restricted fund represents gifts given with an explicit instruction from the donor.

c) Income recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Interest on funds held is included upon notification of the interest paid or payable. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Credit is taken in the accounts for income tax deducted from investment income which has or will be reclaimed from H M Revenue & Customs up to 5 April 2022.

Income from donations and legacies is recognised as it is received by the Trustees.

d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Provision is made for grants when the Trustees have madea binding commitment and this has been communicated to the applicant.

e) Allocation of governance and other support costs

Governance and support costs have been allocated between charitable activities and governance. Governance and support costs relating to charitable activities have been apportioned based on the estimated time spent by staff at the office of the Laing Family Trusts in the administration of donations and assessment of projects. The allocation of governance and support costs is analysed in note 5.

Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include the accountancy and audit costs relating to these financial statements together with an apportionment of overhead and support costs.

f) Cost of raising funds

The cost of generating funds comprises the investment management charges.

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at 5 April 2022

The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

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1. ACCOUNTING POLICIES - continued

g) Charitable activities

The expenditure on charitable activities comprises grants made in the year and governance and support costs. An analysis of the grant expenditure for the year is shown in notes 7 and 8.

h) Fixed asset investments Listed investments are valued in the Balance Sheet at market value. Unlisted investments are included at the Trustees' estimate of market value. The net gain/(loss) on revaluation and disposal of investments is shown in the Statement of Financial Activities.

i) Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

j) Foreign exchange

Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at year-end rates and translation differences are taken to the Statement of Financial Activities.

k) Currency

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 2. INCOME AND ENDOWMENTS

a) InvestmentIncome Unquoted
Investment
Trustees' Quoted Total Total
Names Investments 2022 2021
£ £ £ £
UK investments 378,507 1,497,934 1,876,441 1,421,447
Overseas investments - 973,752 973,752 820,761
378,507 2,471,686 2,850,193 2,242,208
Less: non-recoverable and overseastax - (90,906) (90,906) (93,668)
378,507 2,380,780 2,759,287 2,148,540
Interest on cash deposit 148 2,599
2,759,435 2,151,139

b) Donations and legacies

During the year £106,551 (2021 £186,750) was received from the Trustees of theJ W Laing Trust. These donations are for the Trustees of The Beatrice Laing Trust to use to support the advancement of the evangelical Christian faith.

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS at 5 April 2022 aeS

  1. COST OF RAISING FUNDS

Investment management charges

2022 2021
£ £
231,342 201,225
  1. ANALYSIS OF CHARITABLE ACTIVITIES

The Charity undertakes its charitable activities through grant making and awarded grants to a number of institutions and individuals in furtherance of its charitable objectives.

Total Total
2022 2021
£ £
Grantfunded activity - Out of restricted funds 104,500 181,250
- Out ofincome funds 2,026,987 2,546,612
Support and governance costs - Charitable Activities 87,949 79,840
- Governance costs 23,650 22,689
2,243,086 2,830,391

A detailed analysis of grants awarded during the year is given in notes 7 and 8.

5. ALLOCATION OF GOVERNANCE AND SUPPORT COSTS

ALLOCATION OF GOVERNANCE AND SUPPORT COSTSOF GOVERNANCE AND SUPPORT COSTSGOVERNANCE AND SUPPORT COSTSAND SUPPORT COSTSSUPPORT COSTS ALLOCATION OF GOVERNANCE AND SUPPORT COSTSOF GOVERNANCE AND SUPPORT COSTSGOVERNANCE AND SUPPORT COSTSAND SUPPORT COSTSSUPPORT COSTSCOSTS
2022		 ALLOCATION OF GOVERNANCE AND SUPPORT COSTSOF GOVERNANCE AND SUPPORT COSTSGOVERNANCE AND SUPPORT COSTSAND SUPPORT COSTSSUPPORT COSTSCOSTS
2022		 2021 2021
Charitable Charitable
Activities Governance Activities Governance
£ £ £ £
Audit fee - 4,140 - 4,080
Accountancy fees - 9,715 - 9,715
Maintenance costs 2,453 273 2,151 239
Employment costs 74,165 8,240 68,631 7,626
Administration and computer costs 11,331 1,282 9,058 1,029
87,949 23,650 79,840 22,689

All costs are apportioned on the basis of staff time.

The Beatrice Laing Trust is administered alongside The Maurice & Hilda Laing Charitable Trust, the Kirby Laing Foundation and the Martin Laing Foundation with which it shares its three full-time members of staff and office space. Mr D E Laing, a Trustee, is also a Trustee of the Kirby Laing Foundation, SirJM K Laing and Mrs A C B Gregory, Trustees, are also Trustees of the Martin Laing Foundation and Mr C WD Laing, a Trustee, is also a Trustee of the Maurice & Hilda Laing Charitable Trust. The Beatrice Laing Trust, The Maurice & Hilda Laing Charitable Trust and the Martin Laing Foundation make contributions to the Kirby Laing Foundation towards employment costs. The Beatrice Laing Trust contributed £82,405 during the year towards these costs (2021 £76,257). The Beatrice Laing Trust also made contributions of £2,726 to The Reculver Trust, the landlord of the office, in respect of maintenance costs for the office.

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

at 5 April 2022

ataee

6. TRUSTEES EXPENSES AND REMUNERATION

The Trustees received no remuneration or expenses during the year (2021 nil).

7. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF RESTRICTED FUNDS

All grants made were for the benefit of Christian work in the UK or overseas. Details of individual donations made in the year ended 5 April 2022 are as follows:

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |£| |All|Saints|Church,|Okehampton|2,000| |Arlington|Baptist|Church|2,500| |Billesdon|Baptist Church|2,000| |Buckland|Chapel Trust|1,000| |Christ|Church,|Bexleyheath|2,500| |Dennistoun|Baptist|Church|2,500| |Edale|Methodist|Chapel|2,000| |Grace|Church|Bolton|2,000| |Grace Church|Chichester|2,000| |Hemsworth|Methodist|Chapel|2,500| |High|Street|Baptist|Church,|Tring|1,000| |Holy Ascension|Church,|Bloxwich|2,000| |Holy Trinity|Church,|Hurstpierpoint|2,000| |Immanuel|Church,|Highters|Heath|2,000| |Kidderminster|Baptist Church|2,000| |Kings|People's|Church|2,000| |London|Colney|Baptist|Church|2,500| |New|Life|Church,|Coalville|3,000| |South Hams|Christian|Fellowship|3,000| |St Andrew's|Church,|Langford|2,500| |St Catherine's|Church,|Sacombe|2,000| |St|Chad's|Church,|Sutton|Coldfield|2,000| |St Cross Church,|Knutsford|2,000| |St John the|Evangelist Church,|Goole|2,500| |St John's|Church,|Bilborough|/ St|Martin's|Church|4,000| |St|Kea|Church, Truro|2,000| |St|Leonard's|Church,|Streatham|2,000| |St|Luke's|Methodist Church,|Hebburn|1,000| |St|Mark's|Church,|Marske-by-the-Sea|2,000| |St Mary Magdalene|Church,|Castle|Ashby|2,000| |St Mary Magdelene|Church,|Alfrick|2,000| |St|Mary's|Church,|Eaton Socon|2,500| |St|Mary's Church,|South|Elmsall|2,000| |St|Michael|&|All|Angels with St|Mark, Ashton|2,500| |St|Michael &|All|the Angels,|Claverdon|2,500| |St|Michael|the Archangel|Church,|Llanyblodwel|2,000|

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS at 5 April 2022 i

7. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF RESTRICTED FUNDS- continued

£
St Nathanael's Church, Walton 2,000
St Oswalds Church, Netherton 1,000
St Paul's Parish Church, Compstall 2,000
St Peter's Church, Halliwell 4,000
St Peter's Church, Shipley 3,000
Tabernacle Welsh Baptist Church 2,000
The Church on Rise Park 2,000
Uleywith Owlpen & Nympsfield PCC 2,500
UnityChurch, Orpington 500
Unlimited Church 2,000
West Bridgford Baptist Church 1,000
West Bromwich BaptistChurch 2,500
Winton United Church 2,000
104,500

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The Beatrice Laing Trust - A Registered Charity

at 5 April 2022

  1. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS

NOTES TO THE FINANCIAL STATEMENTS

Si

ee,

2022 2021
No £ No £
Cultural & Environmental . - a 5,000
ChildWelfare&Youth Development 26 145,000 36 326,500
Health& Medicine 28 188,000 37 351,500
Overseas Development 34 282,150 34 323,650
Religion& Church Building Projects 93 1,017,237 88 767,072
Social Welfare 55 394,600 80 775,890
235 —«-2,026,987 276 ~—-2,549,612
Grantwritten back - - - (3,000)
235 2,026,987 276 2,546,612
Details of individual donations made in the vear ended 5 April 2022 are as follows:
£
Child Welfare & Youth Development
Anchorage Association 2,500
Become 3,000
BerkshireYouth Ltd 5,000
BrentAdolescent Centre 2,500
Cann Bridge School 2,000
Fiveways School, Yeovil 2,500
Friends ofCastledon School 2,000
Friends ofColnbrook 2,000
Grief Encounter 2,500
GrowingTogether Northampton 2,000
Home-Start Guildford 6,000
JustAround The Corner (JAC) Ltd 5,000
Kids onTrack 2,000
Kingswood Trust 2,500
LivingHope - Belfast 1,500
Moor House School & College 30,000
Morecambe Road SEN School Charity 5,000
Rathbone 2,500
Red Balloon Learner Centre Group 5,000
Ruby's Fund 5,000
Schoolreaders 10,000
The Friends of Bardwell School 2,000
The Shallowford Trust 5,000
Transitions UK 5,000
Treloar Trust 7,500
___30,000_
145,000

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |8.|ANALYSIS OF|CHARITABLE|EXPENDITURE|OUT OF INCOME|FUNDS — continued| |£| |Health&|Medicine| |Berkshire Vision|2,500| |BeyondAutism|2,000| |Blyth|Star|Enterprises|10,000| |Bolton|Deaf Society|2,500| |Centre|404|5,000| |Cherry Trees|2,500| |Circle|of Support for Autism|Families|2,500| |Cruse|Bereavement Care|6,000| |Favell|House|Day Services|2,500| |Harrow|Carers|2,000| |Headway Birmingham &|Solihull|2,500| |Headway Essex|2,000| |Independence|at Home|5,000| |InFocus|2,000| |Macintyre Care|5,000| |MIND|in|Enfield &|Barnet|5,000| |Oakfield|(Easton|Maudit)|Ltd|25,000| |PHAB|Ltd|3,000| |Pursuing Independent Paths|2,500| |St Joseph's|Pastoral|Centre|2,500| |Stroud Court Community Trust|25,000| |Style Acre|2,000| |Sydenham Garden|2,000| |The|Fifth Trust|25,000| |The JPK Sussex|Project|25,000| |The Kepplewray Trust|5,000| |The lowdown|10,000| |Walsall|Society for the|Blind|Limited|2,000| |188,000| |Overseas|Development| |Adami|Project|2,000| |Bridge2Aid|7,500| |British|Red|Cross|UK/International|15,000| |Build|IT|International|4,650| |DeafReach|2,500| |Disability|Africa|5,000| |Disability Africa|5,000| |FARM|Africa|20,000| |Fields|of|Life Trust|5,000| |Five|Talents|5,000| |Five|Talents|15,000| |Friends of Hope|for Africa|Missions|10,000| |Himalayan|Trust UK|6,000| |Himalayan Trust UK|20,000|

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at 5 April 2022

The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

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8. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS - continued

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Overseas|Development|-|continued|£| |Inter Care|5,000| |International|Centre|for|Eye|Health|10,000| |Motivation|5,000| |ORBIS|5,000| |Play Action|International|5,000| |Ripple|Effect|25,000| |Sand|Dams Worldwide|25,000| |Save the Children|10,000| |Save the Children|10,000| |Sense|International|5,500| |The|Busoga|Trust|4,600| |The|Huge|Partnership|5,000| |The|Kaniki Trust|3,000| |The Virtual|Doctors|10,000| |Tools|For Self Reliance|3,000| |Transform Trade|7,500| |Village Water|Ltd|5,000| |Vision Aid Overseas|7,500| |World|Child|Cancer UK|4,400| |Zambia|Orphans Aid|UK|4,000| |282,150| |Religion &|Church|Building|Projects| |Aigburth Community Church|5,000| |Ainon|Baptist|Church, Tongwynlais|5,000| |All|Saints|Church,|Brightlingsea|5,000| |All|Saints|Church,|Castle Cary|5,000| |All|Saints Church, Mendham|5,000| |All|Saints Church,|Pitsford|2,000| |Banbury Community Church|2,500| |Bloomfield|Presbyterian|Church,|Belfast|5,000| |Bognor|Regis|Baptist|Church|3,000| |Bradford|Cathedral|5,000| |Bryn|Iwan Chapel|1,000| |Caring|Hands|in the Vale|5,000| |Chellington|Centre|10,000| |Christ Church|Fulwood|20,000| |Church|of the Good Shepherd, The Sands|2,500| |Cornerstone|Community Church|2,500| |Coventry Cathedral|Development|Trust|250,000| |«|Diocese|In|Europe|75,000| |Diocese|In|Europe|20,000| |Doncaster Minster|5,000| |Emmanuel|Church,|Leftwich|10,000| |Gateway Church,|Basingstoke|6,000| |Gilgal|Baptist|Church,|Porthcawl|5,000| |Gold|Hill|Baptist Church|10,000| |Gosport|Waterfront|Baptist Church|5,000| |Holy Trinity Church,|Hazlemere|20,000| |Holy Trinity Church,|Idle|5,000| |Holy Trinity Church,|Rayleigh|5,000|

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NOTES TO THE FINANCIAL STATEMENTS

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----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |8.|ANALYSIS|OF|CHARITABLE|EXPENDITURE|OUT|OF|INCOME|FUNDS-|continued| |£| |Religion|&|Church|Building|Projects|- continued| |Holy Trinity|Parish|Church,|Parr Mount|5,000| |Hope|Methodist|Church,|Higham|Ferrers|3,000| |lpplepen|Methodist|Church|5,000| |Kidlington|Methodist|Church|5,000| |King's|Church|Marshes Trust|5,000| |Kings|Cross|Church|10,000| |National|Churches|Trust|25,000| |Newquay|Evangelical|Church|5,000| |North|Springfield|Baptist|Church|2,500| |Oldfield|Park|Baptist|Church,|Bath|2,000| |Poppleton|Methodist Church|6,000| |Ringlestone|Community|Centre|Development|Group|30,000| |Mrs|P|Roberts|1,000| |Rookhow|1,000| |Shepherd|Drive|Baptist|Church,|Ipswich|5,000| |South|Eastern|Baptist|Association|5,000| |St Augustine's|Church,|Ipswich|5,000| |St|Bartholomew's|Church,|Maresfield|2,500| |St|Cuthbert's|Church,|Great Salkeld|3,000| |St|Edward|the|Confessor,|Mottingham|5,000| |St|Helen's|Baptist|Church|5,000| |St James’|Church,|Bix|5,000| |St James|in|the|City,|Liverpool|10,000| |St John|the|Baptist|Church,|Bentham|5,000| |St John|the|Baptist|Church,|Broadstone|10,000| |St John the|Baptist|Church,|Royston|5,000| |St John's|Church,|Waterloo|20,000| |St|Laurence|Church,|East|Harptree|5,000| |St|Margaret|the Queen|Church,|Streatham|2,500| |St|Margaret's|Church,|Paston|2,500| |St|Mark's|Church,|Ninebanks|2,000| |St Mary|the Virgin|Church,|Farnham|2,500| |St|Mary|the|Virgin,|Great|Dunmow|2,000| |St Mary the Virgin,|Longcot with|Fernham|5,000| |St|Mary's|Church|with|St|Nicholas,|Lavant|5,000| |St|Mary's Church,|Ely|30,000| |St|Mary's Church,|Great Wymondley|5,000| |St|Mary's Church,|Olveston|5,000| |St|Mary's Church,|Walthamstow|20,000| |St|Mary's|Church,|Wycliffe|2,500| |St|Matthew's|Church,|Bethnal|Green|4,000| |St|Patrick's|Church, Wallington|20,000| |St|Peter's|Church,|Heswall|10,000| |St|Peter's|Church,|Ropley|20,000| |St|Peter &|St|Paul|Church,|Bishops|Hull|5,000| |St|Philip &|St James Church,|Ilfracombe|2,200| |St|Philip &|St James|Church,|Whittington|2,500| |St Stephen's|Comely|Bank Church|5,000| |St|Sylvester's|Church,|Chivelstone|5,000| |St Teilo's|Church,|Merthyr Mawr|2,500|

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

at 5 April 2022

8. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS - continued

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |£| |Religion|& Church|Building|Projects|-|continued| |St Thomas'|Church,|Holtspur|2,500| |St Thomas|Church,|Lancaster|5,000| |St|Winfrid's|Church,|Totton|20,000| |Sutton|in|the|Elms|Baptist|Church|10,000| |The|Big|Give|24,537| |The|Brook Community Church &|Centre|5,000| |The|Gate|25,000| |The|Parish|of Porthkerry,|Rhoose|&|Penmark|7,500| |The|St|Michael|and|St George|Fulwell|Mission|Initiative|30,000| |The|Zink|Project|ClO|5,000| |Today's Community|Church,|Wigan|10,000| |United|Emmanuel|Church,|Tunbridge|Wells|2,500| |Wall|Heath|Evangelical|Free|Church|10,000| |Walsingham|Methodist|Church|2,000| |YKids|2,500| |1,017,237| |Social|Welfare| |Abbeyfield|Ballachulish|Society|5,000| |Asylum Welcome|6,000| |Barking|Churches|Unite|2,500| |Cambridge|Cyrenians|Ltd|5,000| |Caring|in|Bristol|Ltd|5,000| |Church|Homeless|Trust|10,000| |Crossroads|Care|NI|2,000| |Daventry|Contact Voluntary|Group|3,500| |Developmentplus|5,000| |East|Northants|Faith Group|5,000| |Emmanuel|House|2,500| |Emmaus|Bolton|5,000| |Emmaus|Brighton|&|Hove|30,000| |Emmaus|St Albans|10,000| |Emmaus South|Manchester|6,000| |Faithworks|Wessex|5,000| |Garvald|Edinburgh|5,000| |Genesis Trust|Bath|5,000| |Glass|Door|Homeless|Charity|5,000| |HALOW|(Birmingham)|5,000| |Hope|Housing,|Training|& Support|5,000| |Hope|into Action|15,000| |Housing|Justice|30,000| |inHope|(Bristol)|Limited|7,500| |Launchpad|Reading|5,000| |Lighthouse|Homes|5,000| |Making|a|Difference|to|Maidstone|4,000| |Michael|Roberts|Charitable|Trust|3,000| |Off The|Fence|Trust|25,000| |One YMCA|50,000|

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

at 5 April 2022 I ar a a a

8. ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS- continued

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |£| |Social|Welfare|-|continued| |Prisoners|Abroad|5,000| |Prisoners'|Advice|Service|5,000| |Prisoners’|Education|Trust|5,000| |Restore|(York)|Limited|2,000| |Retail|Trust|3,600| |Routes|to|Roots|(Poole)|ClO|5,000| |Spencer|Contact|5,000| |Spitalfields|Crypt Trust|7,500| |Step|by Step|5,000| |The|Cranfield|Trust|5,000| |The|Friary|5,000| |The|Good|Loaf|10,000| |The|Manna|Society|3,000| |The|Oasis|Centre,|Gorton|7,500| |The|Shrewsbury|Ark|5,000| |Trinity|Life|Church|5,000| |UKHarvest|2,000| |Valley|Heritage|3,500| |Westfield|Community|Development Association|2,500| |Winter|Night Shelter|Milton|Keynes|5,000| |Wintercomfort|for the|Homeless|5,000| |Workaid|5,000| |YMCA|Bournemouth|5,000| |YMCA|Cornwall|2,000| |YMCA|Milton|Keynes|4,000| |394,600| |TOTAL GRANTS BY CATEGORY|aA2e87|

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at 5 April 2022

The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

ass

9. RELATED PARTY TRANSACTIONS

No donations were made to related parties in the year.

10. FUTURE COMMITMENTS

The Trustees have made non-binding grant commitments payable in 2021/22, 2022/23, 2023/24 and 2024/25 which are detailed below:

2021/22 2022/23 2023/24 2024/25
£ £ £ £
Commitments brought forward at 6April 2021 264,500 78,500 11,000 -
Commitmentsmade made duringthe year - 182,880 120,320 20,625
Commitments paid duringtheyear (234,500) ; - =
Commitments outstanding during the year (30,000) 30,000 - -
Commitments carriedforwardat5April2022 - 291,380 131,320 20,625

The Trustees also have made further non-binding grant commitments to future projects, the timing of which is unknown, totalling £505,000.

11. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Cash held
within the
investment Total
Listed Unlisted portfolio Total 2021
£ £ £ £ £
Market value at5 April 2021 60,268,007 8,034,221 250,476 68,552,704 54,082,536
Disposal proceeds
Add: acquisitions at cost		 (5,300,754)
3,953,384		 =
=		 =
=		 (5,300,754)
3,953,384		 (10,689,864)
14,432,749
Investment gains 4,006,787 1,613,547 5,620,334
Movement ofcash - = 1,137,359 1,137,359 (931,342)
Market value at5 April 2022 62,927,424 9,647,768 1,387,835 73,963,027 68,552,704
Investment assets in the UK 34,646,193 9,647,768 1,387,835 45,681,796 42,073,970
Investment assets outside theUK 28,281,231 - - 28,281,231 26,478,734
62,927,424 9,647,768 1,387,835 73,963,027 68,552,704
Historical cost at
- 5 April 2022 43,223,863 3,590,925 - 46,814,788
-5April2021 43,264,234 3,590,925 - 46,855,159

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The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

at 5 April 2022

11. FIXED ASSET INVESTMENTS- continued

The following investments comprise more than 5% of the value of the portfolio at 5 April 2022.

Market
Investments Holding Value
£
Eskmuir Properties Ltd 508,476 ordinary shares of£1 5,201,709
TheDiversifiedPropertyFundforCharities 2,874,731units 4,446,059

Christopher Laing is Chairman of Eskmuir Properties Ltd. Sir Martin Laing and David Laing are both Directors of Eskmuir Properties Ltd.

The market values of the unlisted investments, Eskmuir Properties Ltd and The Diversified Property Fund for Charities, have been calculated using the estimated market values provided to the Trustees at 30 September 2021 of £10.23 per share, and at 31 March 2022 of £1.5466 per share, respectively.

12. DEBTORS

12. DEBTORS
2022 2021
£ £
Stamp duty 35,663 -
13. CASH AT BANK
2022 2021
£ £
Stockbrokers income account 104,459 63,264
Bank account 1,345,187 816,948
1,449,646 880,212

14. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022 2021
£ £
Investment managers fees 57,622 54,154
Accruals - professional fees 13,855 13,795
71,477 67,949
a

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25

The Beatrice Laing Trust - A Registered Charity

NOTES TO THE FINANCIAL STATEMENTS

at 5 April 2022

aa FNES

FNES
FNES ---- Unrestricted Funds
----
Restricted Expendable Total Total
Funds Endowment Income 2022 2021
£ £ £ £ £
Comprise the following:
- Investments - 73,963,027 = 73,963,027 68,552,704
- Cash
- Creditors		 7,551
:		 (5,967,909)
(57,622)		 7,410,004
(13,855)		 1,449,646
(71,477)		 880,212
(67,949)
- Debtors - 35,663 - 35,663 -
7,551 67,973,159 7,396,149 75,376,859 69,364,967

16. VOLUNTEERS

Other than the Trustees, the Charity receives no contribution from volunteers.

17. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

2022 2021
£ £
Net movement in funds (as pertheStatement ofFinancial Activities) 6,011,892 10,964,898
(Gains)/losseson investmentsshown in investing activities (5,620,334) (11,658,625)
Deduct investment income shown in investing activities (2,759,435) (2,151,139)
Increase/(decrease) in creditors 3,528 11,522
(Increase)/decrease in debtors (35,663) 5,338
(2,400,012) (2,828,006)

26