## **L G HARRIS TRUST Report for Year Ending 5 April 2021** 

The L G Harris Trust was endowed by a gift of shares in L G Harris & Co Ltd from a shareholder, Mr L G Harris, in 1964. As the company has not declared a dividend the trust had no income, but on 31 August 2016 the sale of the company to Orkla Housewares Division was completed, and the trustees received a substantial payment for its shares. Acting on advice, the funds, which were approaching £5,000,000, were invested with the COIF funds managed by CCLA, which specialises in investing for charities. In addition, a legacy of £78,597 was received under the will of Mr Harris’s widow Mary who died in 2018. Of this amount, a donation  of £10,000 was made to the Avoncroft Museum of Buildings, of which Mr Harris was the first chairman, and the remaining £68,597 was invested in the CCLA managed funds. 

The end of the previous period’s accounts coincided with a very poor period on stock markets, but since then markets have improved considerably adding over £1m to the trust’s investments, and the total assets stood at a little over £6.5m at the year end. 

The CCLA managed funds pay a quarterly income to the trustees, and a total of £201,935 was received during the year, plus £200 in interest. This is a little less than the previous year, reflecting the cuts in dividends made by very many companies. The trustees, who are the children of L G Harris, have agreed a policy for making grants from the income, and during the year grants of £226,111 were made. During the whole period of the accounts restrictions were in place which badly affected many museums, theatres, concert halls, and educational establishments, and during the year the trustees made grants to the Holst Museum in Cheltenham, Avoncroft Museum (of which L G Harris was first chairman), the English Touring Opera, the Bromsgrove International Musicians Competition and the City of Birmingham Symphony Orchestra. In addition the trustees wish to help the restoration of local historic churches and other buildings, and have continued to support the restoration work being done to Stoke Prior Church, Worcester Cathedral and Evesham Abbey, and have also given a grant to support work being done to the stained glass in Ombersley and Munslow churches. 

Due to the pandemic restrictions the trustees held a distance meeting using Zoom in September, at which various matters were discussed, including a proposal to ask CCLA to pay the quarterly dividend directly into the trust’s bank account, rather than the CCLA deposit account, as interest rates had fallen to almost zero, which was agreed. 

Other than investment management charges and a fee paid to the person who examined the accounts, the trust operates on a purely voluntary basis, and all the income can be used for charitable donations. 

Andrew Harris, Trustee May 2021 



L G HARRIS TRUST
Statamant of Flnanclal Actlvlties
for the year ended 5 Aprll 2021
2021
2020
Incomo
Sale of shares
Donation Received
Additional amount from Sale of Shares
Income from COIF Investment Funds
Interest on deposits
18,597.16
60,000
201,934.66
200.76
206,927
760
220,732.58
267,687
endlture
Grants
Sundry
Examiners, fe•
226,111.16
176.817
260.00
250
226,361.16
177,067
Net Incom• ov•r expendlture before
other recognl$ed galns and108808
-5,628.58
90,620
Reallsed and unreallsod galn8 on
Investment assets
1.072,253.26
-339,015
Net movement In Funds
1,066,624.68
-248,395
Andrew Harr18, Trustse

Inde endent
xamine￿6 ro
the trusto8s of L.G.Harris Trust
I report to the trustees on my examination of the aco)unts of the L.G.Harris (the Trust) for the year ended 5
April 2021.
nsibiliti08 and ba
As the charity truslees of the Tnjst you are responsible for the prepara￿n of the accounts in xcordance with
the requirements of Ihe Charities Act 2011 {'the Act'l.
I report in respect of my examination of the Trusys a￿ount5 carried out under section 145 of the 2011 A
and in carrying out my examination I have followed all the applicable DI￿tionS gNen by the Charity
commission under se¢tion 145(5)Ib) of the Act.
Inde
nden
xaMine￿8 s
mènt
I have completed my examinalion. I confim that no material matters have come to my attenlion in
connection with the examinalton giving me cause to believe that in any material ￿speCt..
1. accounbng records were not kept in respect of the Trust as required by secti¢)n 130 of the Act,. or
2. the accounts do not accord with those records,. or
3. the accounts do not compty wth the applicable requirements Gon￿Ming the form and content of accounts
set out in the Charities {Accounts and Rewrts) Regulations 2008 other Ihan any requirement that the
accounts gNe a 'true and fair view which is not a matter considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a prop8r understsnding of the a￿oUnts to be
reached.
Signed..
Name.. David Lawrence Cooper
ACMA
Address.. 1 Falrttght Drive, 81milngham, B45 8TB
Oate. L41 I1￿11