The Beatrice Laing Trust A Registered Charity Report and Financial Statements 5 April 2024 The Beatrice Laing Trust- A Registered Charity CONTENTS Page TRUSTEES, REPORT REPORT OF THE AUDITOR STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET io STATEMENT OF CASHFLOWS li NOTES TO THE FINANCIAL STATEMENTS 12-24 The Beatrice Laing Trust - A Registered Charity TRUSTEES, REPORT for the year ended S April 2024 The Trustees present thpir financial Statements and annual report for the ye?r ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charlty'5 trust deed dated 29 September 1952, the Charities Act 2011 ènd Actounting and Reportin8 by Charities.. Statement trf Recommended Practice IFRS 1021 and update Bulletlns l & 2. Reference and Adrninistration Details of the Charity, itsTrustees and Athisors Settlors John Wllliam LaSnE- dece8sed Beatrice Laing- deceased Date of Deed 29 September 1952 Trustees Sir John Martin Kirby Laing (died 27 December 20231 David Eric Laing (died 3 March 20241 ChristoplEr Maurice Laing Paula Joan Stephanie Blacker Charles William Oavid Laing Alexandra Catherine Beatrice Jane Gregory RegistÈrÈd Addres5 clo Laing Farnlly Trusts 33 Bunn5 Lane London NW7 2DX Nature of Trust Registered Charity No. 211884 Website wwiv.laln Bankers National We5ttninster Bank PIC Edgware IBI Branch 317 Hèle Lane Edgware Middlesex HA8 7AX Accountants TMF Global Services IUKI Ltd 131h Floor One Angel Court london EC2R 7HJ Auditor5 Mercer & Hole LLP 72 London Road St Albans Hertfordshire ALI INS Inve5tmentAdvisors Vermeer Partners 130Jermyn Street London SWIY 4UR Direttor Miss E A Harley 33 Bunns Lane London NW7 2DX The Beatrice Laing Trust - A Registered Charity TRUSTEES, REPORT for the year ended 5 April 2024 Trust Oblectives lal Income To charitsble purposes. Ibl Expendable endowrnent To be retained by the Trustees. or at their digcretion. applied a5 for income. Investment Powers Unrestricted. The gro55 income of the charity in the yÈ2r to 5 April 2024 was £3,037,14112023 £2,855,0431 Charitable grants from unrestricted funds 0* £1,952,320 were made in the year to 5 April 202412023 £2,113,330]. Also, from Bestricted Funds, no grants were m4de in the year to 5 April 202412023 nonel- 5trutture. Governance and Management The Beatrice Laing Trust was established in 1952 by SirJDhn Lain8 and hi5 wife, Beatrice. ThE Trustees, all of whom are family members, were deeply saddened by the105s of twoof thpir number in the lastfew months of thellnancial year. Martin Lain8 died on 27th December 2023. He was closely involved ¥vith charities In Norfolk. including those providing services to the more disadvantaged in Society, encouraging them to work together wherever possible to take advantage of economies of scale. and, in later years, with charitable or8anis8tions in Malta. As Chair of the Sove rhe VollettGSkyline Appegl, he led thecampaignto rai5efund5forthe restoration of the tower and 5plre of St Paul'5 Angllcan Pro-cathpdral in Valletta. a project which wa5 (Dmpleted just before his death. GeoEraphical considerations ap8rt, heencouraged 5UPPOrtforcharities reflectinghis interests in conservatSon and the environment, sustainable development and empowering young people to fulfil their potential. David Laing died 8t the beginning of March 2024. He wa5 actively involved with numerou5 local Ifirst in Hertfordshire, then in Norrhampionshirel and n8tion31 charities, His charitable interests reflected hi5 kepn interest in literature, muslc, the wider arts Ind sport, along with his passion for historic buildin￿ and encouraging the preservation of heritage crafts and skills.- and his Christian faith. The wisdom, kindne55and generosityof bothwill continueto be sorely missed. The Trust Deed makes provision for a minimum of S trustees and a m3ximum of 7. At present there are four Trustees, all of whom are members of the Laing family. While they are therefore uniquely placed to carry forward Sir John's principles of Christian philanthropy.. the Board is wèreof the need to ensurethatthey continue to haveaccessto the right Cotnbination of skills and experience, whether from wlthin or outslde the farnily. They will therefore be delaying the appointment of any new Trustees until they have undertaken a Strategic review of the Trust'5 80vernance, 8rant-makSng prloritles and operational procedures, which they intend to do in the first few months of 2025 with the help of an external facilitator. The Trustees expect to be able to report back on this in next yearfs annual revlew. The Trust 15 administered alongside the Maurice & Hilda Laing Charitable Trust, Kirby Lain8 Foundation and Martin Lèin8 Foundatlon, and shares Its administrative staff and oftitr space (which is owned by the Reculver Trust) with them. collettivelytheyare known as the Lalng Famlly Trusts. A Memorandum of Under5tandin8 sets out the basis upon which administrative costs are Shared. An 8pplication to any one of the Laing Fami￿ Trusts Is treated as an application to all, although after initial review application5 considered Suitable for further consideration by the Beatrice Laing Trust followthe Trust's own administratNe procedure5 and declsion-making processes. The Beatrice Laing Trust - A Registered Charity TRUSTEES, REPORT for the year ended 5 April 2024 Structure, Governance and Management continued Application is by letter and the grant application pro￿55, guidance on which appears on the Laing Farnity Trusts. website, is designed to be as simple as possible while drawing out the key information required for decision. The day-to-dèy administr8tion of Erants and the processing of appli¢3tions prior to ctsnsideration by the Trustees, Includin8 meetin85 with applicants and pruject Visits where18rger Èrants are contemp13ted. have been delegated to the Trust Director, 5UPPOrted by her stnall team of staff. The Trustees have also dele8ated the power to make grants o £10,000 and below to the Trust Director,. these grant5 are made on monthly basls and ratified by the Trustees at the following meeting. The Trustee5 meet three or four time5 a year to approve thp distribution of gronts, reflect upon their grant-making strategy, consider the performance of their investment portfolio and review policies on reserve5 and risk a5se55rnent. Objectives and Activicies The Trust'5 objects, a5 set out in the Trust Deed, are the advancement of the evangelical Christ18n faith. both at home 3nd abroad, and the relief of poverty,'these areachieved throughthe Trust'sgrènt-maklng pro8ramme, which remain5 Its only charitable activity. The Tru5tee5 Continue tc 5UPPOrta wide range of charitie5 working to relieve poverty In Its broadest Se￿e. both throughout the UK and oversea5. In doing SQ, they confirrn that they have referred to the Charlty Commisslon's general guidance on public benefit. GrHnt recipient5 include organisations working with disadvantaged children and young people, the elderly, the homele55 and those with physical, tnental health or 5earnin8 diffiiulties, wh3tever their religion, ethnicity or backgrourid. An increasing number of these are Christian or8anisations seekin8 to express Chrlstlan faith through pr8ctScal action to help those in need. The Tru5tee5 believe that, having made significant contribution to social welfare provision during the Covid-19 pandemic and c05t-of-Iivin8 crisis, there is a continuing, and potentially incre3singly signific3nt role for churche5, both as places of worship and a5 a hub from which 5UPPOrt Is provided to the local community With this in mlnd, they contlnue to support projects of new church buildin& extension or redevelopment, focusing churche5 which can demonstrate active OLFtre8ch to the Socal community, both in communicating the Christian me55age and helping to relieve poverty by meeting social nÈed. The Trusvs grant-making programrne is financed by incorne derived from the Trusvs investment portfolio. which is managed by Vermeer on an èdvisory basis and in line with the guidance of the Church of England's Ethical Advisory Group. Their performance is reviewed, and measured agaI￿St pvbli5hed iTrdices. on a re8ul3r basis. The objectlve continues to be to seek to maximise dividend income from the existin8 capital. The Tru5tee5 have also used some of the Trust's reserves of unexpended incorne to purchase two housÈs in Bury St Edmunds and Ipswich. These have been leased to the charity Hope Into Action for a minimum period ol five years and are now providing settled horne5 for a family at risk of homelessness and sin8le men on Ilcence a8reemenfs seekinE to rehabilitate their lives, 5UPPOrted by Selig suffolk IHope Into Acticn Ipswich) aNJ volunteers from local churches. As part of their strategic review, the Trustees will be exploring the wtential for investing a larger percentage of their porrfolio for socièl impact. The Beatrice Laing Trust - A Registered Charity TRUSTEE5' REPORT for the year ended 5 Aprfl 2024 Achievernent5 and Performance 254 grants were awarded during the year under review. They totalled £1.961,820. a small increase on the previou5 year. A list Df all the grants 15 provided in note 7. from which it will be evident that the greater number of Erants continue to be for amount5 UP to £5,000, representin8 either modest grants toward5 the core c05t5 of organisatlOn5 working nationally within the Trust's priorSty areas of giving or small capital Érants to local organi5atlOnS WDrking to relievp poverty in their local comrnunities. Ch3ritie5 offering support to the m05t vulnerable and disadvantaged in society, Includlng the homeless, elderly, former Servicemen and women, ex-offenders and peoplp with disabilities and their fatnilies, all continued to receive support. Once again, the Trustees also joined with other members of the ChrSstSan Funders Forum to provide matched fundin8 through the Together Fund to enable Christian charities to participate The 8ig Give Chri5tma5 Challenge. Many of these charitie5 ere involved in social attion projects in their local communities, and participation in the Christrnas Challenge provided them with an opportunity to raise valuable fund5 and make contact with a wider donor bèse. Further detsi15 of all grant5 of £25.000 and above, broken down bv category. are provided below.. EducatiDn & Trainin Carnphill Rudoll Steiner Schools Ltd ewResidential Floysefor Young People with Disrsbilities & Additionol Needs Derwen College TheAgnes Hunt Villctoe Project Prlor'5 Court Foundatlo Let Me5hine Perfvrmino Arts Centre The Deaf Academy NewAdult Leornino & Residentlol Centre 50,LNJO 50,CM)O 25,LN)O 30,000 Overseas Develo Ripple Eflect Eftterpri5ing Migori, Western Kenyo (Iustof 3 gront5J Sand Dams Worldwide Sond Dttm Progrtsmme-5outh OmtrZoneEthiopio (Iustof 4 grontsl rnent 25.000 30.0 Rel All Salnts Church, Weston Church Refurbishment & Modernisotion Ballymena Methodist Church The Livino Rooms Projert Cardiff Methodist CiTCUIt TheSanctuorvforAII Project Cathedral Isle of Man Reorderino Project Church of the Good Shepherd, Poole New Church Btsildyno StThomas Church, Newport Revituli5e Newport Minster The BIE Glve Chrlstmos Chollenge Big Give (Together Fund) Match Fundin9 The Gtiod Faith Foundation Worm Welcome Church Fund2023 The Lighthouse Support Centre Building ForA BrighterFU￿re 30,000 50,WO 30,000 25,000 30,000 25.000 26.2SO 55,0(NJ 30,0(Y) The Beatrice Laing Trust- A Registered Charity TRUSTEES, REPORT for the year ended 5 Aprll 2024 Achievements and Performance- continued Emmaus Dover Buildino o 8etter Ftsture Project- Phose One Emmaus Hertfordshire The Hill End Redevelopment Projert Housing Justice Foith in Affordable Housing- Cotulyst WDrker12nd of two grontsl John Trotter Trust Open Door Centre- Phose 2 Oakfield IEaston Mauditl Ltd E05ton Maudit RenovL¥tion PrDjettPhL15e3 The Branch Yru5t Renovation of ForrnerBank Prefflises a5 Comfftunity Hub Unity MK Creotion of Wolverton CommunitySupportHub 2S,OCKI 25,450 30,000 50,000 40,000 loo,000 30,000 In orderto assess the effectiveness of theirgr3nt-makin8 prograrnme, the Trustees ask all recipients of grants of £5.000 and above for a report 12 months after the Érant has been paid. describing briefly how the grant ha5 been spent and commentin8 as appropriate on whèt has been achieved. Most of the larger grant5 are only paid followin8 the fulfilment of certain conditions, and some grants are paid in Instalments. Usually over 3 year5. The second and subsequent instalments of such 8rants are not released until a review of progress has been satisfactorily completed ind the Tru5tee5 reserve the right to make payment should progress be deemed unsatisfactory. In general grants to overseas projects are made through UK registered charities which are tasked with rnonitoring and evaluating the use of funds on behalf of the Trustees Iri addition to grarit expenditure. a further £227,440 was spent on investment manège¢s fees and £135.806 on 5UPPOrt and governance costs, re5ultin8 in an over311 excess of income over expenditure of £717,266. Reserves of unexpended income from previous years increased to £8,963,074. The level of these reserves will vary according to the investment returns belng achleved and the level of Erant expenditure. but it Is the Trustees. intention that they should not generally exceed twelve onth5 expenditure. The level of reserves is tur￿￿tlY well above this which will enable the Trustees to continue to increase the level of their Brant expenditure in the short to medium term and to continue to explore 5acial investment Tnode15. Taking into account a gain on investments of £1.969.465. In addition to investment managers, charges, the value of the Foundation's expendable endowment atthe year-end rose by £1,742,025 12.5%) to £68,899,757. Risk A55essrnent TheTrustÈes annually reviewthe malor rlsks towhich they feel the charity is exposed. These fall into three main area5.' protection of asset5 and income, IntegrSty of the grant-making process and employment and retention of staff. Having carried out their annual review of these risks they rem8in confident that they have in place systems and procedure5 which mitigate the risks asfar a5 possible. The Beatrice Laing Trust - A Registered Charity TRUSTEES, REPORT for the year ended 5 April 2024 Statement of the Tru5tee5' responsibilities in respett of the fit)antlal 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 Prattice. The law applicable to charities in England and Wales, the Charltles Act 2011, Charity (Accounts and Report%) Regulations 2(K)8 and the provisions of the Trust Deed require5 the Trustee5 to prepare financial statement5 for each financial year which give a true and fair view of the state of affair5 of the chèrity and of the Incoming resource5 and application of resources, including the income 3nd expenditure, of the charlty for that period. In prÈparing those financial 5tatement5, the Trustees are required to.. select suitable accounting policie5 and then apply them CDll5I5tently', observe the mpthod5 and principles in the Ch3rity SORP; make judgement5 Ind estimates th8t are reasonable and prudent., state whether applicable accounting standards ￿ve been followed, subject to any material departure5 disclosed aNJ explained in the financial 5tatements.' and prepare the firta￿l31 statements on the 8oln8 concern basis unless it 15 inapprcpriate to presume that the Charity will continue. The Trustees are responsible for kÈepin8 proper accounting records which disclose with re8sonable accuracy at any tlme 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) Re8ulation5 2008 and the provisions of the trust deed. They 3re also responsible for safeguarding the a$5et5 of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustep5 on IDL Date and signed on their behalf by Trustee INDEPENDENT AUDITOR'S REPORT to theTrustee5 of The Beatrlce Lalng Trust- A RegisteTed Charlty Opinion We have 4udited the financial Statements of The Beatrice Laing Foundètlon (the 'chariVI for the year ended 5 April 2024 which cornpri5e Statement of Financial Activitie5,the Bèlance5heet and notes tothÈfinancial staternents, including 5ignificèntaccoJnting poIicip5. The financlal reportine framework that has bèen applied in their preparation is applicable 18w and United Klngdom Accounting Standard5, including Financièl Reporting Standard 102 The Finoncial Reporting Stondcrd opplicoble in the UK ond Republic of IrelL¥nd (United Kingdom Generally Accepted Accounting Pracritrl. In Duropinion the financial staternents.. give a true and fairview uf the state of the charivs affair5 a5 at 5 April 2024, and of r($ incomlng rÉsource5 and application of resources, Including its income and expÈnditure, for the ye3r then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirernent5 of thÈ Charities Act 2011. Basi5 for opinion We conducted our audit In accordance with International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities undorthose standardsarefurther described in the Audltor's re5ponsibilitiesfortheatsdit ofthe 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 financi31 statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wrth these requirernent5. We believe thèt the audit evidence we have obtained is sufficient and appropriate to provide a basi5 for our opinion. Conclusiens relating to g(Hng concern In auditing the financi31 staterllents, we have concluded that the trustee5' Use of the goinE concern ba515 of accounting in the prep3ration of the financial statements is appropriate. Based on the work we have performed. we have not identified any materi31 uncertaintie5 relating to events or conditions thaL individually or collectively, may cast significant doubt on the ch3rity's abiltty to continue 8$ a goingconcern for a period of at least twelve tnonthsfrom when the finoncial Statements are 8Uthorised for issue. Our re5PDnsibS1ities and the responsibilities of the trustees with respect to going concern are described in thÈ relevant section5 of this report. Other infomiailon The other information comprises the information included in the trustees annual report, other than the finHncial 5tatement5 and our 3uditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our oplnion on the financial 5tatetnent5 does not cover the other inforrnation and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance Conclu￿on thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infortnation is m8terSèllv incon51Stent with the financial skatements or our knowledge obtained in the course of the audit or otherwise appears to be materially tnisstated. If we identify such rnaterial inconsistencies or apparent material misstatements. we arp required to determine whetherthis Elves rise to a rnaterial tnisst8tement in the financial Statements themselve5. If, based on the workwe have performed, we conclude that there is a material mi5Staternent of this Other information, we are requlred to reportthat fact. We have nothlng to report in this regard. Matter5 on which we are required to report by exceptton We have nothingto report in respect of the following matter5 in re13tion to which the Charities (Accounts and Reports) Regulations 2008 require u5 to report to you if, In our opinion.. the informatiDn given in the financial staternents is inconslstent in any rnatprial respect with the trustee5' report,. Dr the charity has not kept adequate accountin8 records.. or the financial statements are not in agreement with the Hccounting records and returns.. or we have not received all the inforrnation ènd explanations we require for our audit. RÈsponslbllltles of trustee5 As explèined more fully in the tru5t2es' responsibilities statement. set out on page 8, the trustees are responsible for the preparation of the financial statÈments and for being sat15fied that they Èlve a true 3nd fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statetnents that are free froffl rnaterial misstatement, whether due to fraud orerror. In preparlng the financial statements. the trustees are respDn5ible for assesslng the charity'5 3bility to continue as a going concern, disclosin8, as appllcable, rnatter5 related to going concern 3nd using the going concern basis of ¥counting unless the trustees either intend to liqui(5ate the Iharity or to cease oper8tion5, or have no reallstic alternètive but to do so. Auditor's responsibilitles for the audit of the finandal statement5 We have been appointed as 3uditor under section 144 of the Charities Act 2011 and report in accordance with re6ulation5 made under section 154 of that Act. Our obiectfves are to obtain re3sonable assurènce about whether the financial 5taternent5 as a whole are free frorn material tnisstatement. whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a h￿h level of assur8nce but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always deted a material mlsstatement when it exisis. Mlsstatement5 can arise from fraud or error and are cc>n5idered m8terial if, individually or in the aggregate, they could reasonably be expected to influence the econornic decisions of users taken on the b3515 of these financi81 statements. Irregularities, InclJdin8 fraud, are instances of nonn The Bevern Trust The Brarbch Trust The Bread Maker The Good Neighbour Stheme for Mill Hill & Burnt Oak The Hardmèn Trust The Meath Epilepsy Trust The M05e5 Project Together Dementia Support Trinity Winchester Unity MK Vision Support Barrow & District Warming up the Homeless Wintercomfort for the Homele5S Wokin8 CDmmunity Fumiture Project Wornencentre Limited Women's Community Matters Woodwork to Wellness IW2WI YMCA Cornwall YMCA East 5urrey YMCA Milton Keynes 742,700 Miscelleanous David Laing Foundation The Big Give The Cranfleld Trust 20,000 26,250 5.wo 51,250 TOTAL GRANTS BY CATEGORY 1,961,820 21 The Beatrice Laing Trust- A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2024 RELATED PARTY TRANsA￿lDN5 Charles Willlam David Laing isa Trustep of the David Laing Foundatlon whlch recelved 8 donatlon of £20,OODduringthe year. FUTURECOmMrNE￿ The Trustees have made non-bSnding grant commitments payable in 2024125, and 2025126 which are detailed below= 2023IZ4 2024125 2025126 Commitments brought forward at 6 April 2023 Commitments tntdp during the yeai Commitments paid duringthe year CorntnitTnellt5 Outstanding during the year 345.320 91,625 90,000 50,000 1320.3201 125,0001 25.000 Comtntttnent5 carried forward èt S April 2024 206,625 so,ocNJ The Trustees also have made further non-binding grant cornrnitment5 to future projects, the timing of which 15 unknown, totall1￿ £849.060. 10. FIXED ASSETS al Share Investments Cash held within the investment portfolio Total 2023 LlstÈd Unlisted Toial Market value at 5 Aprll 2023 Disposal proceeds Add.. acquisitions at cost Investment gains Movetnent of cash 62.503,745 10,445,635 115,150,7551 14.538.669 2,627,304 233,268 73,182,648 115,150,755) 14,538,669 1,969,465 387,643 73,963,027 14,047,025) 5.016,395 1595.1821 11,154.5671 1657,8391 387,643 M4rket vjlue 3t 5 Aprll 2024 64,518,963 9,787,796 620,911 74,927,670 73.182,648 Investrnent assets in the UK 27,480.692 Investrnent assets outside the UK 37,038,271 9,787,796 620.911 37,889,399 37,038,271 42,506,758 30,675,890 64.518,963 9,787,796 620.911 74,927,670 73,182,648 5 April 2024 48.597.911 3,590,925 52,188,836 5 April 2023 46.718,348 3.590.925 50,309,273 22 The Beatrice Laing Trust - A Registered Charity NOTE5 TO THE FINANCIAL STATEMENTS at 5 April 2024 10. FIXED ASSETS- cot)tlnued The following inve5trnents cornpri5e rnore than 5% of the value of the portfolio at 5 April 2024. Market Value 5haTe Investments Holding Eskmuir Properties Ltd The Dwersified Property Fund for Charitie5 508,476 ordinary 5hare5 of £1 2.874.731 units 5,867,813 3,919,983 Chrlstopher LalnE is Chalrman of Eskmuir Properties Ltd The market values of the unlisted investments. Eskmulr Propertles Ltd and The DiverslfSed Property Fund for Charitles, have been calculated usin8 the èstimated market value5 provided to the Trustee5 at 30 September 2023 of £11.54 per share, and at 31 March 2024 of £1.3636 per shore. respectively. bl Property Investment 2024 2023 Value at 5 April 2023 Addition5 during the year 25MI,448 2,930 290,448 Value at 5 April 2024 293,378 290,448 A first free hold property at 32 Hunter Road, Ipswich wès purchased in 2023 for the use of the Charity The property is capitalised in the accounts at cost which includes purchase price, legal fees plus subsequent additions tot property. No provision hès been madÈ for depreciation a5 the Trustees are of the Dpinion that thp recovErable amount of the property is not lower than the carrying value. An annual impairment review will be performed by the Trustees ro ensure that no change to thls oplnlon occurs. 11. CURRENT AssErs al Cash at Bank 2024 2023 Stockbrokers income account Bank account 103,579 2,398,261 58,192 1.748,855 2,501,840 1,807,Q47 bl Debtors 2024 2023 Purchase pr1￿ of property held by sollcitor Rental incorne due 245,0(M) 5.880 250,880 Asecond free hold property at I Stoke Hall Road, Ipswlch was purchased forthe useofthecharity in Aprll 2024. The purchase funds were transferred to the 501icitor on 2 April 2024 and completion took place on 9 April 2024. 23 The Beatrice Laing Trust - A Registered Charity NOTE5 TO THE FINANCIAL STATEMENTS at 5 April 2024 12. LIABIUTIES.. AMOUNTS FALLING DUE WJTHIN ONE YEAR 2024 2023 Investment rnènager5' fees Kirby Laing Foundation Rec￿￿er Trust Accruals- profe55ional fee5 59,541 25,827 972 56,544 24.057 1,136 14,755 17.046 103,286 96,492 13. FUND5 Unrestricted Fund5 Restrirted Expendable Funds Endowment Total 2024 Tot81 2023 Income Comprise the following.. Investments Cash Debtors Creditor5 75.221,048 16.506,7501 245,000 159,5411 75,221.048 2,501,840 250,880 1103,3861 73,473,096 1,807,047 7,551 9.￿1,039 5,880 143,8451 196,4921 7,551 68.899,757 8,963,074 77,870,832 75.183,651 I& VOLUNTEERS Other than the Trustees, the Charity receives no contrlbution from volunteer5. 15. RECONCILIATION OF NEf MOVEMEMfs IN FUNDSTO Ngf CASH FLOW FROM OPERATING ACTIVITIES 2024 2028 Net movement in funds las per the Statement of Fir￿nCIal Activitie5 IGain511105se5 on investments shown in investing activitie5 Deduct investment income shown in investing actiwties Increa5ÈlldÈcreasel in creditors Ilncreasel/decrea5e in debtors 2.686,731 1193,2081 11,969,465) 595,182 13.037,1411 12,855,043) 6,894 25,OL5 1250,8801 35,663 12,563,861] 12.392,3911 24