PETER LATHOM'S CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Charfty Reglstratlon Number: 228828
Advance Chartered Certlfied Accountants
71173 Hoghton Street
Southport
PR9 OPR

PEtER LATHOM'S CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
9- 11
Notes to the Financial Statements
12
Local Trustees. Accounts & Distrlbutions

PETER LATHOM'S CHARITY
TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATION DEfAILS
CHARITY NUMBER
228828
ADDRESS
The Clerk to the Trustee5
clo 71173 Hoghton Street
Southport
PR9 OPR
TRUSTEES
As detalled on pages 4 & 5
CLERK
Mrs K R Thompson
INDEPENDENT EXAMINER
J Tobin FCCA
Advance Chartered Certified Accountants
71173 Hoghton Street
Southport
Merseyside
PR9 OPR
BANKERS
CAF Bank Ltd
25 Kings Hill Avenue
Kings HTII
West Malling
Kent
ME19 4JQ
STOCKBROKERSIINVESTIAENT
MANAGERS
Rathbones Investment Management Ltd
Port of Liverpool Buildings
Pier Head
Liverpool
L3 1NW
INVESTMENTS IiANAGERS
CCLI Investment Management Ltd
80 Cheapside
London
EC2V 6DZ
Page 1

PETER LATHOM'S CHARITY
TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
Peter Lathom s Charity is a registered charity, number 228828. It was established by a Trust Deed
dated 9 May 1902. The provisions of the scheme of the charity were last amended at a full meeting
of all trustees on 20th September 2024 to be effective from 1 It January 2025.
APPOINTMENT OF TRUSTEES
The Trustees are as detailed on pages 4 and 5. Central Representative Trustees appointed for four
year terms, one from each of the twelve local bodies of trLtStees, one from Lancashire County Council
& one from Manchester University. Central Co-optative Trustees appointed for five year temis by
resolution of the Central Trustees passed in special meeting, and a150 Serve a5 Local Ex-officio
Trustees. one for each of the twelve districts. Local Representative Trustees app07nted for four year
terms by the appropriate Parish Council or equivalent bo(ty. Local Co.optative Trustees appointed
for five year terms by resolution of the Local Trustees concerned passed in special meeting.
ORGANISATION
The full body of Central Trustee5 meet annually. Management of the charit¥s affairs delegated to
two committee5 - The Farm & Finance Committee and the Education Committee, al￿ known as the
Exhlbitions Committee. The composition and terms of reference of these comfflittees is ratified
annually by the Central Trustees, body. During the year under review the Farms & Finance Committee
met four times & the Education Committee met twice.
There are twelve local trustee bodies representing separate dlstricts in the area of benefit. These
local trustees each meet annually to determine the distribution of the funds appropriated to them
under the scheme.
OBJECTS AND ACTIVITIES
The key objectives of the Charity are to provide financial a5SlStance for the education and tralnlng
of persons under the age of 25 years resident in the districts formTng the area of benefit of the
Charity, and in the application of income for the relief of persons in need, hardship or distress
similarly resident wthin the said quallfylng dlstricts.
The scheme lays down forniulae for distrlbution of the Income between the above objective5 resultTng
in various restricted income fund5.
The Charitys capital is permanently endowed.
Page 2

PEfER LATHOM'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
The charity made the followng distributions in accordance wth the scheme:_
The Exhibitions committee met twice during the year. Seven payments totalling £3,800 were agreed
to be made to local students together with grants to schools at the autumn meeting totallTng 110,998.
All the local trustee districts managed to meet during the year, most were on zoom. The local
trustees. bodies distributed £27.334 to institutions and E4.215 to qualifying individuals in the aiea of
benefit.
F114ANCIAL REVIEW
The Charity's net outgoing resources on the restrirted Income funds were £340 after distributions of
£46,347. The endowed funds showed a net increase of £58,84012023: Increase of £94,491 I a 2.97%
increa5e12023: increase of 4.77%) on the previous year's value.
RESERVES
Grants/awards are made in the following year, at a series of meet?ngs of the Central & L¢xal Tru5tees'
bodies. The charity endeavours to spend all of its net income from the previous year on its objects,
therefore the reserves at any year end generally represent the net income due for distribution in the
followin4 year.
INVESTMEKf POLICY
There are no restriction5 on the charity's power to invest. The investment strategy is set by the
trustees, taking into account the 7ncome requirements of the charity> to pay current beneficiaries
and to obtain capital growth for the benefit of future generations of beneficiaries. The trustees use
CCLA and Rathbones Investment Management Ltd a5 investment advisors to the charity.
The Charity's Investments held with CCLA showed an increase of 2.14% 12023.. increase of 8.01 %) in
capital value over the year with an income yield of 2.96% 12023: 3.15%). The funds held with
Rathbones demonstrated an increase of 4.51 %12023= increase of 1.20%) and an income yield of 3.01%
12023: 3.04%). By way of comparison the FfsE 250 index increased by 3.79% over the same period.
Page 3

PEfER LATHOM'S CHARITY
TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinued)
CENTRAL CO-OPTATNE TRUSTEES
(also Served as Local Ex-officio Trustees for the district indicated)
Mrs H Rosbotham
Bicker5taffe
Cllr G Green
Bispham & Mawde51ey
Cllr D Hardi5ty
Bur5cough
Mrs K Almond
Croston
Mrs S E Braithwaite
Dalton & Parbold
Cllr E Pope
Newburgh & Lathom
Mr D Snape Ivice Chairman)
Ormskirk (passed away during the yearl
Mrs K Cummings
Rufford
Mr l Tinsley
Scarisbrick
Mr C J Byron (Chairman)
Skelmersdale
Mrs E Doran
Ulnes Walton & Eccleston
Mr A Whittaker
Welch Whittle, Heskin & Wrightington
CENTRAL REPRESENTATIVE TRUSTEES
(also served as Local Trustee5 for the district indicated)
Cllr l Rigby
Blckerstaffe
Mrs J Clayton
Blspham ft Mawdesley
Cllr B Bailey
Burscough
Mr5 K Beatty
Croston
Cllr M Blake
Dalton & Parbold
Mrs J Peggs
Newburgh & Lathom
Mr A Owens
Ormskirk
Miss M Skinley
Rufford
Cllr J Marshall
Scarisbrick
Mr P Cotterill
Skelmer5dale
Cllr M Miller
Ulne5 Walton & Eccleston
Mr5 R Critchley
Wrightington
Cllr R Bailey
Lancashlre County Council Appointee
Ms L Molyneux
Manchester UniYe151ty Appointee
Page 4

PETER LATHOM'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)
LOCAL REPRESENTATIVEICO-OPTATIVE TRUSTEES
Bickerstaffe
Cllr A Draper
Blspham & Mawdesley
Ms G Woods
Burscough
Mrs S Lamb
Cllr D Mo55
Croston
Cllr G Stubbs
Mrs C Procter
Dalton & Parbold
Cllr G Rainford
M5 S Carruthers
Cllr A Coren (resigned in yearl
Cllr D Howard
Newburgh & Lathom
Cllr P Atty
Ms F Casey
Ormskirk
Cllr A Yates
Rufford
Miss A Croft
Mrs J Caunce
Scarisbrick
Mr W J Cropper
Cllr S Brake
Skelmersdale
Mr P Mcconnell
Ms A Fennell
Ulnes Walton & Eccleston
Mrs P Sloan
Cllr D Bonney Iresigned in yearl
Cllr D Graham
Welch Whlttle, Heskin & Wrlghtington
MrJLHill
Cllr F John50n
Signed on behalf of the Trustees
y C Byron (Chalrman of Trustees
4 March 2025
Page 5

PETER LATHOM'S CHARIT
Independent examiner's report to the Trustees of Peter Lathom's Charity
Independent examlner's report to the trustees of Peter Lathom's Charlty
I report to the charity trustees on my examination of the accounts of Peter Lathom's Charity for
the year ended 31 December 2024.
Responslbilities and basis of report
As the charity trustee5 you are responsible for the preparation of the account5 in accordance with
the requirements of the Charities Act 2011 1.the Act'l.
I report in respect of my examination of the accounts carried out under section 145 of the Act and
in carrying out ffly examination I have followed all applicable Directions given by the Charity
Commission under section 14515llbl of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accounting record5 were not kept in respect of the charity as required by section 130 of the
Act; or
the accounts do not accord with those records. or
the accounts do not comply with the applicable requirements concemlng the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2CK)8 other
than any requirement that the accounts glye a true and fair view which is not a matter
considered a5 part of an independent exafflirbation.
I confimi that there are no other matters to which your attention should be drawn to enable a
proper understanding of the accounts to be reached.
J Tobin FCCA
Advance Chartered Certified Accountant5
71173 Hoghion Street
Southport
PR9 OPR
4th March 2025
Page 6

PETER LATHOM'S CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
Restrirted Permanent
Income
Endowment
Funds
Funds
(Note 21
Total
Funds
2024
Total
Funds
2023
Notes
Incoming resources
Incomlng resources from Senerated funds
Investment income
COIF
Rathbone5
Bank interest
Farm land rent
34,177
22,755
2,055
34,177
22,755
2,055
33,705
22,696
1,449
1,OCK)
Total lrtcomiftg re50urces
59,987
59,987
58,850
Resources expended
Costs of generatlng fund5
Investment management ¢￿t$
Insurance
642
642
500
6,202
Investment managers fees
6,511
6,511
642
6,511
7,153
6,702
Charltable actTYities
Local trustees. distributions
Central trustees. grants & donations
Welfare distrtbutlons to Institutions
Grant5 to I￿aL schw15
Other approved Education grant5
31,549
31,549
31,621
10,998
3,800
10,998
3,800
11,874
1,750
46,347
46,347
45,745
Governance costs
Clerks, fees lincl dlsbursementsl
Accountancy EL independent examination
Sundries lincl Trustees. meetings)
9,264
3,240
834
9,264
3,240
834
10,258
3,240
747
13,338
13,338
14,245
Total resources expended
60,327
6,511
66,838
66,692
Net inc4yningl(outsoins) resources before other
re¢ognised galns & losses
Other recognlsed galns & losses
Realised110551 I galn on Investments
Unrealised11055)18ain on revaluation of Investments
3401
16,5111
16,8511
17,8421
13,1051
68,456
13,1051
68,456
13231
101,016
Net movement in fund5
13401
58,840
58,500
92,851
Reconcillation of funds
Total funds brought forward
66,162
1,980,256
2,046,418
1,953,567
Total funds carried forward
65,822
2,039,096
2,104,918
2,046,418
Page 7

PEfER LATHOM'S CHARITY
BALANCE SHEET
AS AT 31 DECEMBER 2024
Note5
2024
2023
Fixed Assets
Investments
Freehold land
Other investments
73,625
1,969,294
73,625
1,910,452
Total fixÈd assets
2.042,919
1.984,077
Current Assets
Cash at bank
65,723
66,345
Totsl current assets
65,723
66,345
Llabilitles
Creditors: Amounts falling due
within one year
13,724}
4,¢))41
Net current assets
61,999
62,341
Net assets
2,104.918
2.046,418
The Funds of the charlty
Endowment fund
Restricted income funds:
Estate of mixed account Ilncl. local
Trustees, funds}
Welfare fund
Lathom educational foundation
2,039,096
1,980,256
44,145
7.686
13,991
5,386
14,330
65,822
66,162
2,104,918
2,046,418
The trustees approved the financial statements on 4th MArch Z025
Signed on behalf of the tmstees by:
C Byron
Chalrman of Trustees
The accounting policies and note5 on pages 9 to 12 fomi an integral part of these financlal
statement5.
Page 8

PETER LATHOM'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACc￿nting policies
Basls of accounting
The financial statements of the charityj which Is a publlc beneflt entlty under FRS 102, have
been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 leffective l January 20191,, Financial Reportin£ Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland, and the Charities Att 2011. The financial
statements have been prepared under the historical c05t convention, Mth the exception of
investments which are Tncluded at market value, as modified by the revaluation of certain asset5.
Income & expenditure recrynltlon
Income 15 accounted for in the accounting period in whlch it is recelvable. Llabllltles are
recognised as soon as there is a legal or constructive obligation committing the charity to the
expenditure.
Fixed asset investments
Flxed asset investments are stated at market value, unrealised gains or losse5 arising on the
change in market value during the year are included in the Statement of Financial Activities.
Analys15 of Income Funds
E5tste or
Mixed
Account
Lathom
Educational
Foundation
Welfare
Fund
Total
Income
59,987
59,987
Insurance
(6421
16421
Charitable activities
131,5491
14,7981
101 146,3471
Governance costs
113,3381
113.3381
Net Income
14,458
114,7981
101
13401
Transfers between funds
116,7591
14,459
2.3LX)
Funds blfwd
14,330
5.386
66,162
Funds clfwd
44,145
13,991
7,686
65.822
Distribut10Tr5 are made from the varlous Income funds in the following year.
The Estate or Mixed Account represents the residue of monie5 after transfers to other funds,
in accordance with the charity'5 scheme, and is distributable by the twelve local Ix)dies of
trustees in their respective districts, amongst those who are in need, hardship or di5tre55.
During the year grants were made to individuals totallinq £4,215 and institutions in the areas
of benefit totalling £27.334.
Page 9

PETER LATHOM'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Lathom Educational Foundation represents the income of the charity which under the
scheme is applicable to promoting the education of persons under the age of 25, in need of
assistance and resident in the districts fomiing the area of benefit of the Charity. Distributions
were made by way of payments totalling £3,800 to variou5 individua15 and to 22 schools
totalling £10.998.
The Welfare Fund represents incorne which under the scheme is distributable by the central
trustees amongst those in need hardship or distress in the districts forming the charitys area
of benefit. During the year, no grants were paid, dl￿ to the lack of eligible applications.
No remuneration or re-imbursement of expenses was paid or payable out of the funds of the
Charity to any trustee or any person connected with any of them.
Unreali5ed gain and Ilossèsl
2024
2023
Other Investment5
68,456
101,016
68,456
101,016
Freehold land and bulldlngs
2024
2023
Chartty Farm Land
73.625
73,625
73.625
73,625
The Charity own5 14.73 acres of agricultural land and this has been valued in the Balance Sheet
at £73,625 by the Trustees in 2010. The trustees Still consider this to be a reasonable valuation.
Other Investments
Charities Official
Investment
Fund
Rathbones
Portfolio
Total
Market Vall￿ as at 31 December 2023
Add7tions
Disposal proceeds
Net cash movement
Realised1055
Unrealised gain
1,154,744
755,708
104,072
1127,0781
16.497
13,1051
43,733
1,910,452
104,072
1127,0781
16,497
13,1051
68,456
24,723
Jmarket value as at 31 December 2024
1,179,467
789,827
1,969,294
Cost as at 31 December 2024
144,415
640,060
784,475
The Charities Official Investment Fund Investment comprises Charitie5 Investment Fund
£1, 102,55212023 E1,078,1951 and Charities Property Fund £76,91512023 E76,549I.
Other investments represent share5 and securities listed on recognised UK and foreign stock
exchanges.
Page 10

PETER LATHOM'S CHARI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Creditors: amounts falling due withTn one year
2024
2023
Accruals
3,724
3,724
Analysis of Net A55ets by Fund
Restrlcted
Income
Funds
Permanent
Endowment
Total
Fixed Asset Investment
Net Current Assets
2,042,919
13,8231
2,042,919
61,999
65,822
65,822
2,039,096
2,104,918
Page 11

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