THE LANGTREE TRUST (Charity No. 232924) Trustees Re ort and Financial Statements for the Year Ended 30 Se tember 2024
THE LANGTREE TRUST Contents Legal and Administrative information Report ofthe Trustee5 2-4 Receipts and Payments Account Statement of Assets and Liabllitles Independent Examiner's Report
THE LANGTREE TRUST The Trust Is a registered charity constituted under its Foundation Deed dated 14th December Ih 1963, amended on 25 June 2007 by Re501ution of the Trustees. Charity Registration Number 232924. The Trustees During the year the Trustees were: Ms L Lockwood Mrs K Bertram MrREWay Mr W Conway Mr S Thorpe Ms R Morgan Chair Secretary Treasurer Principal Address Clo Xeinadin South Wales & West Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Independent Examiner Xeinadin South Wales & West Limited 701 Stonehou5e Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Bankers CAF Bank Ltd 25, Klngs Hlll Avenue Kings Hill West Malling Kent ME19 4JQ Investment Managers Schroder & Co. Ltd Tla Cazenove Capital Management 12 Moorgate London EC2R 6DA
THE LANGTREE TRUST Report of the Trustees for the Year ended 30th September 2024 The Trustees are pleased to prcsent their report iogether with the financial statements for the Year ended 30th September 2024. The financial staiements have been prepared in accordance with the applicable accountin8 policies thal comply with the charity's trust deed, the Charities Act 2011 and thestaiement of Recommended Practice on Accounting and Reporting bycharities SORP. The Financial Statemonts comprise a Receipts and Payments Atcounl for the Year and a Statement of Assets and Liabilities as at 30th september 2024. The Trust was esiablished by Mr. and Mrs. A.G.Timpson in 1963 and is governed by a Foundaiion Deed dated 14.. December 1963. amended on 25, June 2007 by Resolution of the Trusiees, The Foundation Deed empowers the Trustees to èpply" .the Trust Funds and the income arisin8 therefrom for such charitèble trusts and suth charitable Pufposes as the Trustees shall in their uncontrolled discretion from time to time determine" The Foundation Deed expressly states that the trust shall be "wholly non-sectarian and non- political... and thai "The Trustees shall not be bound to distinguish between capital and income but may apply either capital or income for such purposes of the Trust as they may think No funds are held on Special trusts and the Trust does not solicit gifts. donations or contributions. Trust Polieies Without restricting their absolute discretion, the broad principles applied by the Trustees in the allocation of charitable giving are as follows- l. Trustees seek to help locally based organi5ètions in the county of Gloucestershire. with priority to those in Stroud District. which provide valuable community support services to disadvantaeed people. 2. Applications for grants related io buildings or the environment will be assessed on their impact for local community benefit. 3. Grants are typically in ihe range of £250 to £750 but can be from as little as £50 and up to £l,QOO. 4. Given the above criteria large national organisations are unlikoly to qualify for funding. The Trustees are aware of the Public Benefit provisions of the Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied thai the object5 of the Charity and the activities of the Charity are within the definitions of Charitable Purposes as set down in the Act.
THE LANGTREE TRUST Report of the Trustees for the Year ended 30th September 2024 Trust Policies- cont The Trustees are not aware of any public detriment caused by the Charity's objects or activities, and nor are they aware of anyone receiving private benefit from the Charity's activities. The Trustees meet four or five times a year to allocate resour5 in accordance with these general principles. They aim to distribute the income of the Trust each year. recognising that this will vary from year to year, depending on the incidence of appeals and the pattern of income receipts. Their intention is that this balance should be attained over a period of years. The Trustees have adopted an investment policy designed to maintain the value of the Fund in real terms over a perlod of years, while, a5 far as possible, increasing its annual income. In pursuing this policy, the Trustees have received regular professional advice from Cazenove Capital Management, a subsidiary of Schroder & Co. Limited, a recognised firm of Stock Exchange Brokers and Fund Managers. Trustees selection methods and tralnlng Current trustees when recruiting new trustees. consider the skills, knowledge and experience required to ensure that the charity is well governed and run effectively. The Charity ensures that all its new and potential trustees have acce55 to the Charity Commission's publication Responsibilities of Charity Trustees ICC31 and that they have read and understood the contents. Trustees understand their obligation to check the eligibility of new trustees they are aware of the legal rules on eligibility to serve as a trustee. There is no current requirement to appoint new or additional trustees until the number is reduced to three. Risk Management The Trustees have assessed the risks to which the Trust is exposed and consider that the major risk faced by the charity is a possible loss in the value of, or income from. its investments. This rlsk is minimised by the use of a professional investment adviser. ReseNes Policy The Trustees pollcy Is to retain the free reserve5 of the Charity (the Income Fundl to meet contingencies. This Fund was accumulated in the year5 to 1997, since then the Trustees have sought to distribute fully the incorne of the Fund, taking the experience of three or four years together.
THE LANGTREE TRUST Report of the Trustees for the Year ended 30th September Z024 Trustees Responsibilitles The Trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of ihe income and expenditure during the yoar. In preparin8 these statement5 the Trustees are required- to selett 5Ultable accounting policies and apply them consi5tenily to make judgements and estirnates that ale reasonable and prudent to follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the linancial statements to prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disc105e with reasonable accuracy ai any time the financial position of the Trust and enable them to ensure that the financial statements comply with the requirements of section 130 Charitiès Att 2011.They are also responsible fDr safeguardin8 the assets of the Trust and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Artl¥itles durln8 the Year. Achlevements and performance n the course of the year the Trustees met formally on four occasions and approved a total of 39 charitable 8ifts totalling £28,125. After gÉfts and expenses and with a net income from investments sales and purchases of £1,055 the excess of payments over receipts for the year was E8212023: excess of payments over receipts £32,314). Value of the Fund The overall value of the Fund at 30th September 2024, including investments valued at market value, was £1,842.305 which compares with £1.656,344 at 30, September 2023. an inciease of £185,961. Investment Changes in the Year £506,556 was received from the sale of holdings and £505,501 was invested in acquisitions of new invesiments. Independent Examiner of the Accounts The Trustees record their appreciation tif the services and assistance they have received from GCSD Accountants Limited who are willing to act a5 Independent Examiners in accordance with section 145 of the Charities Act 2011. Signed for and on behalf of The Trustees on February 2025. Chairman
THE LANGTREE TRUST R•ca ts and Pa onts coUnt lor the Yoar to 30th S• tembvr 2024 2024 2023 Recelpts lrtve51menl IrtDme Receip15 frorTr Sale of Investments 37.226 506.5Jf6 38.929 479.657 Total R8colpt5 913.782 Paym¢nt# CharIlab gi45 Pur£a5e ol lvestrnents Accounlan15 fee5 Adrnin151ratson c0515 Inve51menl anaget lees 28.125 23.245 1.014 773 8.286 720 303 8.126 Total PayTrents Net R¢¢¢lpt> IPaym•nlsl lor Ihe Year B3 132.3141 Casn F¢Jnds lasiyear and 40.268 72.580 Cash Funds Ih15 year en¢J 40.349 4C266 Staiom•nt of Assets and Li4bilrtlP5 as 4t 30th SI embor 2Q24 2024 Inve•tmonts at Market V*ue'. UK Bond funds Global Bonds lunds VK Equily funds Iniemalionol Equity IuttTJs lemalive illVE5tmEnts Liqu,'dity Funds Capital alc cash 179.150 127. 193 270.834 983.040 241.685 16Jf.793 128.394 276.305 763.613 246.228 3 Jf.691 1.264 6.119 1.808.D21 1.617.288 Lash al bank Cash Iloat 34.234 39.006 50 N•t ass•ts 1.842.305 1.656.344 Approved by the frustee5 Dn 3rd Pebwary 202 Signgd
THE LANGTREE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 INDEPENDENT EXAMINERS REPORT TH I report on the financial statements of the charity 1.the Trust'l reBiStered number 232924 for the year ended 30, September 2024, whlch are set out on pages I to 5. Resperttve responslbllltles ot trustees and examlner The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. The charity'5 trustees consider that an audit Is not required for this year LTrnder Section 144 of the Charities Act 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charlties Act, to follow the procedures laid down in the generol Directions given by the Charity Commission (under section 14515llbl of the Charities Att, and • to state whether particular matters have come to my attentlon. Basis of independent examinerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the occountir¢g records kept by the charity and a comparison of the actounts presented with those records. It also includes consideration ol any unusual items or disclosure5 in the accounts, and seekin8 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examlnerfs statement In connertion with my examination, no matter has come to my attention 111 which gives me reasonable cause to believe that in, any materiol respert, the requirements.. to keep accounting records in accordance with section 130 of the Charities Act- to prepare account5 which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met- or 121 to which. in my opinion. attention should be drawn in order to enable a proper understanding of the account5 to be reached. Matthew Ra les FCA Xeinadin South Wales & West Limited 701 Stonehouse Park Sperry Wav Stonehouse, Gloucestershire GLIO 3UT Date.. 25 February 2025