THE MARY SLATER CHARITY
Registered Charity Number- 215036
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Dains Audit Ltd
Chartered Accountants
St Johns Court
Wiltell Road
Lichfield
Staffordshire
WS14 gDS

THE MARY SLATER CHARITY
INOEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGE
14
Annual Report
Independent Examiners Report
Slalement of Financial Activities
Balance Sheet
Notes lo the Accounts
8-10

THE MARY SLATER CHARITY
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Reference and administrative information
Trustees:
The Charity Iruslees who served during the year are..
Dr R W Henshaw
Chairman
Co-opted
The Lord Bishop of Lichfield
Ex officio
Mr A J Burns-mace Terminated 15 May 2024
Ex officio
Dr D Brown
Co-opted
AArs L Fleming
Mrs A L Hughes
rCKey
Dr C M Lockwood
Mr T J Roach
Mr S Schafer
Ms L J Simms
Ms C Wood
Appointed 3 Juty 2024
Terrminaled 15 May 2024 Ex officio
Appointed 3 July 2024
Co-opted
Resigned 3 July 2024
Co-opted
Appointed 3 July 2024
Co-opted
Appointed 15 May 2024
Ex officio
Appointed 3 July 2024
Co-opted
Appointed 15 May 2024
Ex officio
Principal Address:
Mr S R James
The Clerk lo the Trustees
Bank House Farm
Woodhouses
Yoxall
Staffs
DE13 8NR
Registered Charity Number:
215036
Website:
laler.or
Principal Bankers:
National Westminster Bank plc
Market Street
Lichfiel
Staffs
WS136LE
Independent Examingr..
M Gurney FCCA, DChA
of Dains Audit Ltd
Chartered Accountants
Sl Johns Court
Willell Road
Lichfield
Staffs
WS14 gDS
Investment Advisers:
RBC Brewin Dolphin
6th Foor, The Chatwin Building
81 Colmore Row
Birmingham
B3 2BA
Page 1

THE MARY SLATER CHARITY
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024(CoDtinued)
Report of the Trustee$ for the year ended 31 December 2024
The Irustces present their report along with the Financial Statements of the Charity for the
year ended 31 December 2024. The Financial Stalemenls have been prepared in accordance
with the accounting policies set out on page 8 and comply with the Charity Commissioners,
Schemes, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wilh ihe
Financial Reporting Standard applicable in the UK and Republic of Ireland effective I
January 2019.
History ind Objectives and Act]￿tieS for the Public Benefit
The Mary Slaler Charity was founded in 1898 and is now governed by Charity
Commissioners, Schemes dated the 16 November 1954 and the 17 Septembcr 1957. In
addition by virtue of a scheme of the Charity Commissioners, dated 2 December 1955, the
Irustecs are also the trustees of the Charity known as Lichfield Victoria Sick Poor Fund whose
assets are incorporated in tl)c funds detailed in the Accounts and whose income is available to
meet the same obj¢¢ls a5 the Nqary Slalei Charity. Tlie Cliarity does not actively fundraise
and seeks to continue ils philanthropic work through the Careful stewardship of 115 existing
resources.
The Charity provides assistance to sick ￿)0r pcr50ns resident RA the City of Lichfield or
within two miles from Lichfield Cathedral.
Assistancc may be given in all or any ol the following ways or in such other ways that the
I￿Stee$ think f2t'.
a) the supply of special foods and medicines, medical comforts, extra bedding, fucl and
medical surgical appliances,.
b) the provisioTr of domestic help,.
c) grants to dcfray the expenses of convalescence.
d) the relief of suffcring, disability or infinnity.
The trustees may apply the income of the Charity tn supplementing relief or assistance
providcd out of public funds but income of the Charity shall in no case be applied in relief of
public funds or so that any person may become entitled to a periodical or r¢¢urrent benefit
from th¢ Charity.
Management and Governance
During 2023 a resolution was passed to increase the number of co-optative tnjslees. The
Scheme now pr(>vides for the appointment of ninc trustees, three ex-officio and six co-
optative. The cx-officio trustees arc the Lord Bishop of Lichfield, the Mayor of Lichfield and
the Sheriff of Lichfield. New co-optative trustees are identified from people within the local
Community who havc the necessary skills and interest and are appointed by the remaining
trustees. Co-oplativc trustees are appointed for a tern) of five years.
Page 2

THE MARY SLATR CHARITY
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)
Thc induction process for any newly appointed t￿stee comprises an initial meeting with the
Board of Trustees, at which a pack is provided. This includes a copy of the governing
documcnt, a copy of the mosl recent annual report and accounts, copy minutes of previous
trustees, meetings and a copy of the Charity Commission guidance 'Thc Essential Trustee,
and 'Charities and Publi¢ Benefit,.
The trustees nornially meet four times a year to consider grant applications and as and when
appropriate the broad slrategy and area of activity for the Charily, including investments,
reserve5 and risk management policies and perfonnance. The day to day a(hninistration of
grants and ihe processing of appli¢alions piior to consideration by the trustees are delegated lo
the Clerk.
Risk Review
The trustees have examined the major internal and external risks which the Charity faces and
confirnj that systems have been establishcd to minimise these risks.
Grant Making Policy and Procedure$
The Charity is well-known in Lichfield and invites applications from both organisations and
individuals. Each application is considered on its own merits.
Grant application fonns are available for download from the website {maryslater.org.uk) or
from the Clerk, whose address is shown on page l. Once an application is received it is
considered at the nex( meeting of the trustees. however special arrangements are made if the
application is considered urgent.
Achievements Ind Performance
During the year grants totalling £45,951 wer¢ tnadc. This compares with lolal grants of
£5,485 in the previous year.
Financial Review
Total funds al 31 December 2024 amounted lo £2,084,174. which comprised the endowment
fund £1,786,101 and unrestricted funds £298,073. Free r¢s¢rvcs at 31 December 2023 tolalled
£283,929. The reserves policy is to maintain reserves equivalent to appmximately 12 months
expenditure in order lo provide a buffer against additional expciiditure and stock market
fluctuations. Reserves al 31 Deccmbcr 2024 exceeded this level. The Irustee5 are continuing
their endeavours to raise the profile of the Charity.
The investment portfolio is managed by external fund managers on a discretionary basis 10
achieve a balanced return from income and capital growth by accepting a tnoderate level of
risk. Thc portfolio is subject lo ethical restrictions. Over the year the investment portfolio
generated a total return of 9.60/0 afier fees. This cotnpares with a return of 13.1 % ITL the RBC
Brewin Dolphin Risk Category 6 index and 8.2/0 III the Asset Risk Consultsnts Steady
Giowth index over the same period. The perfomance of the portfolio is monitored on
quarterly basis by ihe trustees.
Pa8e 3

THE MARY SLATER CHAIUTY
ANNUAL REPORT
FOR THE YEAR ETr4DED 31 DECEMBER 2024 (Continued)
Public Benefit
The Trusiees confinn that they have referred to the guidance contained in the Charity
Commission's generdl guidance on public benefit when reviewing the Charity's aims and
objectives and in planning and setting their grant making policy for the year and have
complied with iheir duties under the Charities Act 2011.
Trustees, Responsibilities in Relation to tbe Financial Statemellts
Thc charity trustees are responsible for preparing a tnstees, annual report and financial
statements in accordance witli applicable law and United Kingdom Accounting Standards
(Unitcd Kingdom Generally Accepted Accounting Practice).
IAW applicable to charities in England and Wales requires the Trustees to prepare financial
stalcmenls for each financial ycar which give a true and fair view of the Charity's financial
activities during the year and of its financial position at the end of the year. In preparing
those financial statements, the T￿sleeS are required to..
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP (FRSI 02).
make Judgements alld eslimales that are reasonablc and prudent,.
state whether appliLable accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements,.
and
prepare the financial slalements on the going concern basis unless it is inappropriatc
to presume that the Charity will continue in business.
The Trustees are responsible for keeping aLcouniing records which disclosc with reasonable
accuracy at any titne the financial position of the Charity and to enable them to ensui¢ that the
financial statements comply with the Charilics A¢1 2011, the applicablc Charities (Accounts
and Reports) Regulations, and the provisions of the governing document. They are also
responsiblc for safeguarding the assets of the Charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularitics.
Approved by the Trustees on 15 April 2025 and signed on thcir behalf by..
R W Henshaw
Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE MARY SLATER CHARITY
I report lo the charity trustees on my examination of the accounts of the charity for the year
ended 31 December 2024 which are set out on pages 6-10.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 I'the Act,).
I report in respect of my examination of the charity's accounts carried out under section 145 of
the Act and in carrying out my examination I have followed all the applicable Directions given by
Ihe Charity Commission under section 14515llb) of the Act.
Indepèndent examiner's statement
I have completed my examination. I confirm that no material matters have come lo my attention
in connection with the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the
Act., or
2. the accounts do not accord with those records,- or
3. the accounts do not comply wth the accounting requirements concerning the form and
conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirernent that the accounts give a 'true and fair view, which is not a maller
considered as part of an independent examination.
I have no concerns and have come 8cross no other mallers in Connection with the examination
lo which attention should be drawn in this report in order lo enable a proper understanding of the
accounts lo be reached.
M Gurney FCCA, DChA
of Dains Audit Ltd
Sl John's Court
Wiltell Road
Lichfield
Slaffordshire
WS149DS
April 16, 2025
Page 5

THE MARY SLATER CHARir
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
Unrèstricted Endowment
Income Funds
Fund
Total
2024
Total
2023
Notes
Income and endowments from:
Investments
Income from listed investments
Deposit interest and similar income
Donations
59.868
2,603
59,868
2,603
58,903
2,351
300
Total income
62.471
62,471
61,554
Expenditure on..
Charitable activities
Clerk's salary
Independent examiner's fee
Investment management charge5
Sundry expenses
Total
45,951
6,220
1,140
1,102
529
54,942
45,gS1
6,220
1,140
10,813
529
64,653
5,485
5,950
1,110
10,246
610
23.401
9,711
9.711
Nel gainslllossesl on inveslrnenls
6,615
122,661
129,276
96.813
Not Income19xpendlturo
14,144
112,950
127,094
134.966
Ngt movement in funds
14,144
112,950
127.094
134,966
Raconciliation of funds..
Total funds brought forward
283,929
1,673,151
1,957,080 1,822,114
Total funds carried formard
298,073
1,786.101 2,084,174 1.957.080
Page 6

THE MARY SLATER CHARITY
BALANCE SHEET
31 DECEMBER 2024
Unrestricted Endowment
Income Funds
Fund
Total
2024
Total
2023
Notes
Fixed Assets
Listed Investments
199,472
1,784,307 1,983,779
1,840,102
Currgnt Assets
Debtors
Balances al Bank..
Deposit
Current
Total Current Assets
6,795
6,795
5,050
48,192
56,113
111,100
4,287
52,479
56,113
115,387
52,479
62,810
120,339
4,287
LSablllties.'
Creditors falling due within one year
Net Current Assgts
12,499
98,601
2,493
1,794
14,992
100,395
3,361
116,978
Net Assets
298,073
1.786,101 2,084,174
1.957,080
The funds of the chartty:
Permanent endowmeTrl
Unreslricled income funds
Total charity funds
1,786,101 1,786,101
298,073
1.786,101 2,084,174
1,673,151
283,929
1.957,080
298,073
298,073
These financial slalemenls were approved by the Board of Trustees on 16 April 2025 and signed
on their behalf by..
R W Henshaw
T J Roach
Page 7

THE MARY SLATER CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting Policles
General
The financial statements have been prepared in accordance wlh Statement of Recommended
Practice". Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS1021
effective 1 January 2019 and the Financial Reporting Standard applicable in the UK and the
Republic of Ireland IFRS1021 and the Charities Act 2011.
The charity constilules a public benefit entity as defined by FRS 102.
The financial statements comply with FRS102.
The financial statements have been prepared under the historical cost convention with items
recognised al cost or transaction value unless otherwise staled in the relevant nole{sl lo these
accounts. The financial slalements have been prepared on an accruals basis.
Grants payable are charged in the year when the offer 15 conveyed to the recipient, except
where the offer is conditional, such grants being recognised as expenditure when the conditions
allaching are fulfilled.
The incorne fund comprises those assets which the Iruslees are free lo use in accordance with
the charitable objects.
The endowment fund comprises those assets which musl be held permanently by the charity,
principally investments. Income arising on the endowment fund can be used in accordance with
the objects of the charity and is included as unrestricted income. Any capital gains or losses
arising on the investments form part of that fund.
2 Charitable actlvitles
2024
2023
Grants lo Organisations
Grants lo 612023-31 Individuals
Cost of medical reports
Less Lapsed grants
40,867
4.784
300
5,385
100
45,951
5,485
Grants to organisations are as follows:
Citizen's Advice South East Staffs
Lichfield Talking News and Community Care
Sl Giles Hospice
MHA Communities South Staffs
15,350
1,019
5.000
19,498
40,867
3 Investment Management Charges
In 2023 the expenditure on investment management charges totalled £10,246 of which
£966 was expenditure from unrestricted income funds and £9,280 was expenditure
from the endowment fund.
Page 8

THE MARY SLATER CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Trustees Remuneration and Expenses
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for
the year lo any trustee or to any person or persons known lo be connected with any of them.
No expenses were palé lo any Trustee during the year. {2023- nil}
5 Listed Investments
Income
Fund
Endowment
Fund
Total
2024
Total
2023
Listed Investments
Investment Portfolio Cash
197,476
1,996
199,472
1,784,195
112
1,784,307
1,981,671
2,108
1,983,779
1,834,441
5,661
1,840,102
Investments held al 01.01.24
Additions al cost
Disposals al carrying value
Add nel gainllloss) on revaluation
Investments held al 31.12.24
166,572
25,000
17111
6,615
197,476
1,667,869
117.041
1123,376)
122,661
1,784,195
1,834,441
142,041
1124,0871
129,276
1,981,671
1,746,204
565,012
1573,588}
96,813
1,834,441
All investments are carried al their market value.
All investments are quoted on the London Stock Exchange.
Asset sales and PLJrchases are recognised al the dale of trade al cost Ithal is their transaction value)
6 Debtors
2024
2023
Investment Income
6,795
5,050
In 2023 all debtors relate lo unreslricled income funds.
7 Bank balances
2024
2023
Deposit
Current
52,479
56,113
108,592
52,479
62,810
115,289
Unreslricled income funds
Endowment fund
104,305
4,287
108,592
111,001
4,288
115,289
8 Creditors
2024
2023
Creditors and accrued expenses
Grants aulhorised but not paid
5,243
9,749
14,992
3,361
10,865
Unreslricleé income funds
Endowment fund
12,499
2,493
14,992
1,039
2,322
10,865
Page 9

THE MARY SLATER CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9 Relatgd Party Transactions
There were no related party transactions during the year {2023 - none).
10 Analysis of Net Assets Between Funds
Accumulatod
Income Fund
Endowment
Fund
Total
2023
Fixed Assets
Current Assets
Current Liabilities
Fund Balance
168,917
1,671,185 1,840,102
116,051
4.288
120,339
1,039}
2,322
3,3611
283,929 1,673,151 1,957,080
Page 10