Charity number.. 237250 THE ELAINE & ANGUS LLOYD CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST CONTENTS Pa9e Reference and administratlve detalls of the charity, its trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the flnancial statements 8-14
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 Trustees A S Lloyd Sir Michael Craig-cooper CBE TD DL FCIArb J S Gordon MBE CRHLloyd Mrs V E Best J S Lloyd Mrs P J Salchwell - Smith Rev R G Lloyd, Chairman Charity registered number 237250 Principal office 45 Pall Mall, London, SW1Y 5JG Accountants Hillier Hopkins LLP, 45 Pall Mall. London, SW1Y 5JG Bankers Royal Bank of Scotland, 49 Bishopsgate, London. EC2N 3AS Sollcltors Cripps Pemberton Greenlsh. 45 Cadogan Gardens, London, SW3 2AQ Investment brokors Raymond James Investment Services Ltd, Broadwalk House, 5 Appold Street, London, EC2A 2AG Page 1
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 The Trustees present their annual report together with the financial statements of the charity for the 6 April 2021 to 5 April 2022. a. ACTIVITIES FOR ACHIEVING OBJECTIVES The Trust Deed empowers the Trustees to invest in assets as they shall in their absolute discretion think lil and lo apply resources for such charitable purposes as they may in their discretion determine. . REVIEW OF ACTIVITIES The grants expended for the year lotaled £103,790 enabling a total of 57 different institutions and individuals to benefit from the TTUStees dislribulions. b. INVESTMENT POLICY AND PERFORMANCE The Trustees shall have the same full and unrestricted powers of investing as if they were beneficially entitled. The investments are managed by Raymond James Invslmenl Services Limited.. stockbrokers, and comply with the provisions of the Declaration of Trust. Investments sold in the year resulted in a profiU{lossl of £126,430 (2021.. £15,538). The Stock Ex¢hange performance increaselldecreasedl the value of the porllolio during the year by £194,561 (2021.. £834.101}. At the end of the year the Investments had a value of £3,938,815 (2021.. £3.582,4251 The Trustees consider this is sufficient to continue giving the quality of support to futLJre recipients, as had been recognised from the trust's inception Hillier Hopkins have produced the reports and financial statements made up to 5 April 2021. They show nel resources incomellexpendedl of £12,228 (2021.'£{14.95811 before investment gains and losses which are shown on page 6. a. GOING CONCERN After making appropriate enquiries, the trLJStees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. . ORGANISATIONAL STRUCTURE AND DECISION MAKING The Elaine and Angus Lloyd Charitable Trust was founded by Deed of Trust dated 9 June 1964 and amended on 19 October 1992 with the present name being adopted fiom 6 April 1993. The Trust is a registered charity number 237250, al 45 Pall Mall, London. SW1Y 5JG. The Trustees meg1 on a regular basis lo discuss how best in their opinion the av8i18ble resour$ should be applied. Al trustee meetings, the Irusleos agree the board strategy and areas of activity foT the Charity, including consideration of donations. investment, reserves and risk management policies and performan¢e. Grants in practice are made lo those charities or for such charitable purposes known lo one or more of the Trustees. b. RISK MANAGEMENT Page 2
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST TRUSTEES, REPORT Icontlnuedl FOR THE YEAR ENDED 5 APRIL 2022 The charity Trustees have consSdered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees consider the variability of investment returns on the investments to constitute the charity's major risk and continue to keep the investment portfolio under review. a. FUTURE DEVELOPMENTS It is the Intention of the Trustees to continue lo distribute the major part of ils income. TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees, repoil and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pr2Cticel. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the iiicoming resources and application of resources of the charity for that period. In preparing these financial statèments, the Trustees are required lo.. select SLJitable accounting policies and then apply them consistenlly., observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sullicienl lo show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial slalemenls comply with the Charities Aol 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust degd. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detèction of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charify and financial informatlon included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slalemenls may drffer from legislation in other jurisdictions. This report was approved by the Trustees, on fjo November 2022 and signed on their behalf by.. LJ ev R G Lloyd Page 3
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ELAINE & ANGUS LLOYD CHARITABLE TRUST Ithe 'charity') I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2022. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the charity's Trustees those mallers l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Act'i. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Comtnission under section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn lo the fact that the charity has prepared the accounts in accordan with Accounting and Reporting by Charities.- Statement of Recommended Pmctice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in prefeience lo the Accounting and Reporting by Charities". Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair vlew in a¢¢ordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. l ¢8n confirm that no mallers have come to my attention in connection with the examination giving me cause to believe that in any material respe¢L' accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.. or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a maller considered as parl of an independent examination. Page 4
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT {continued) FOR THE YEAR ENDED 5 APRIL 2022 I have no concerns and have come across no other mallers in connection with the examination to which attention shoLJld be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Signed.. Ross 8adger Dated.. 10 November 2022 HILLIER HOPKINS LLP Gharlered Accountants 45 Pall Mall London SW1Y 5JG Page 5
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 Unrestricted funds 2022 Total funds 2022 Total fvnds 2021 Note INCOME FROM.. Investments 138,342 138,342 111,280 TOTAL INCOME 138,342 138.342 111,280 EXPENDITURE ON: Investment management fees Charitable activities 11,884 114,230 11,8B4 114,230 13, 163 113,075 3&5 TOTAL EXPENDITURE 126,114 126,114 126,238 NET INCOME I IEXPENDITUREI BEFORE INVESTMENT GAINS 12,228 320,991 12,228 320,991 (f 4.958) 849,641 Nel gains on investments NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES 333,219 333,219 834,683 NET MOVEMENT IN FUNDS 333,219 333,219 834,683 RECONCILIATION OF FUNDS: Total funds brought forward 3,769,021 3,769,021 2.934,338 TOTAL FUNDS CARRIED FORWARD 4,102,240 4,102,240 3, 769, Q21 The notes on pages 8 10 14 form parl of these financial statements. Page 6
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2022 2022 2021 Note FIXED ASSETS Investments 3,938.815 3,582,425 CURRENT ASSETS Investments Funds Cash al bank and in h2nd 167,918 t42,920 49,676 167,925 192,596 CREDITORS: amounts falling due within one year 14,500) (6.000) NET CURRENT ASSETS 163,425 186,596 NET ASSETS 4,102.240 3, 769,021 CHARITY FUNDS Unrestricted funds 4,102,240 3,769,021 TOTAL FUNDS 4,102,240 3, 769.021 The financial statements were approved by the Trustees on 10 November 2022 Rev R G Lloyd oyd J S Gordon The notes on pages 8 10 14 form part of these financial statements. Page 7
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The tinancial 51atemenls have been prepared lo give a 'lrue and fair, view and have departed from the Charities (Accounts and Reporisl Regulations 2008 only lo the exlenl required lo provide a 'true and faiv view. This departure has involved following the Charities SORP IFRS 1021 publish on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effe¢live from 1 April 2005 which has since been withdrawn. The financial statements have been prepared under the historical cost convention wlh Items recognised at cost or transaction value unless otherwise staled in the relevant notes lo these aocounls. The financial statements have been prepared in accordance with the Slalemenl of Recommended Practice., Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102} and Charities Acl 2011. The Elaine & Angus Lloyd Charitable Trust conslilules a public benefit entity as defined by FRS 102. 1.2 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 1.3 Expenditure Expenditure is recognised once there is a legal or Conslruclive oblioalion to transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by acts'vity. The costs of each aclivlty are made up of the tol81 of direct costs anol shared costs, including support costs involved In Ljnderlaking each activity. Direct costs allribulable to a single acb'vily are allocated directly to that activity. Shared c051s which contribute lo more than one activity and support costs which are not allribulable to a single activity are apportioned between those aclivilie5 on a basis consislenl with the use of resources. Central staff costs are 211ocalÈd on the basis of lime spent, and depTecialion charges 8llo¢aled on the portion of the asset's use. Governance costs are those incurred in connection with administration of the charity and compliance with conslitulional and st8lulory requ1MentS. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable aotivilies and Governan costs are costs incurred on the charity's educational operations, including support Gosts and costs relating lo the governance of the charity apportioned to charitable activities. Grants payable are chaTged in the year when the offer Is made except in those cases where the offer is Conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as a commitment, bul not accrued as expenditure. Page 8
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 ACCOUNTING POLICIES Icontinuedl q.4 Donatlons Donations received for the general purposes of the Charitable Trust are treated as llnreslrieted funds. At the balance sheet there are no reslricled funds. 1.5 Cash flow statement The Charitable Trust is entitled to the exemption from the requirement lo prèpafft a cash flow statement on the grounds that il is a small charity within the meaning of the Charities Act 1993 and the Regulations. 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured at fair value al the Balance sheet dale, unless fair value cannot be mèasured reliabily in which case il is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gainsl{lossesl on inveslmenls. in the Slalemenl of financial aclivilies. 1.7 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank. 1.8 Cash at Bank and in hand Cash at bank and in hand includes cash and shorl term highly liquid investments with a short maturily of thiee months or less from the date of acquisition or opening of the dep0511 or similar account. 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be esb'rllaled reliably. Liabilities are recognised at the amount that the charity anticipates Il will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services it must provide. Provisions are measured al the best estimate of the amounts required lo sellle the oblig8lion. Where the effect of the time value of money is rllaterial, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Page 9
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEiVIENTS FOR THE YEAR ENDED S APRIL 2022 INCOMING RESOURCES Unrestricted funds 2022 Total funds 2022 Total funds 2021 Dividends received Interest received 138,336 138,336 111.254 26 138,342 138,342 111,280 Total 2021 111.280 111,280 ANALYSIS OF EXPENDITURE BY ACTIVITIES Grant funding of actlvities 2022 Total 2022 Total 2021 Donation5 103,790 103,790 102, 875 Tolal 2021 102.875 102.875 Page 10
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 GRANTS TO INSTITUTIONS 2022 2021 1st Glasgow The Boys, Brigade AT¢hie Lloyd Charitable Foundation Book Aid International Brighton St Peters Isavehaven Women) CALM Cambodian Children's Fund CAT Zero Charlie Weller Twst Chelsea & Westminster Neonatal Intensive Care Unil Cherry Trees CWR Diabetes UK EHAS Effingham with Little Bookham PCC Hope Garden Medical Centre Hope Gardens (Paddy Field) Hope Gardens Christmas Appeal Linden Lodge Policy Exchange Piligrims Hospices Rhema Bible College Rhema Parlnership Saffron Hall Trust Skillaway Snow Camp Spear Brighton Sl Clemenls Church Sandwich Sl Andrews The Oxsholl Initiatwe Sl Peter's Church Sl Mary's East Molesey charitable Trust The Great Dixter CharitabSe Trust The Grange Centre The Meeting Room Umbrella Centre What on Earth Foundation Wokingham Vineyard Other < £1,000 7,100 1,000 3,440 1,000 2,000 10,000 2, 750 1,000 I,o(10 1,000 1,500 1,000 2,500 3,000 2,000 3,500 4,500 5,000 1,500 1,000 1.500 1.000 2.500 3,000 2,0(A) 8,200 1,500 1,009 4, 600 4.600 1,000 3,500 8,000 4,000 1,000 4,000 1,000 5,000 5.000 500 1.oc 1.2(10 6.3( 2,Ot)O 1,000 8, 750 I,ooo 10,QOO 1,500 10,875 1,000 8,750 1,000 12,000 2,000 9,650 Total 98,440 98,275 Page11
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 GRANTS TO INDIVIDUALS 2022 2021 Linda Thorn Mary Morgam Sophie Van Walwyk Other < £1,000 1,200 1,500 1,000 1,650 1,2(10 1,000 1,000 1,400 Total 5,350 4, 600 GOVERNANCE COSTS Unrestricted funds 2022 Tol81 funds 2021 Audit fee Accountancy 2,400 8,040 2,280 7,920 10,440 10,200 AUDITORS. REMUNERATION The Independent Examinerfs remuneration amounts lo an Independent Examination fee of £2,400 {2021 £2,280>. FIXED ASSET INVESTMENTS Listed securities Market value At 6 April 2021 Addition5 Disposals 3,582,425 616,777 1260,387) At 5 April 2022 3,938,815 Page 12
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 FIXED ASSET INVESTMENTS {contlnuedl Material investments At 5th April 2021 the fund held in the following investments which individually represented at least 50/0 of the total market value of the investments 5 April 2022 5 April 2021 Royal Dutch Shell Ordinary B EO.07 Rio Tinto Ordinary 0.1 Op Bankers Investment Trust 25p JP Morgan Asian IT 25p 220,584 244,800 219.200 191.475 202.400 465,384 613.075 CREDITORS: Amounts falling due withln one year 2022 202Y Accruals and deferred income 4,500 6,000 Page 13
THE ELAINE & ANGUS LLOYD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 ENDOWED FUNDS: MOVEMENT IN THE YEAR STATEMENT OF FUNDS- CURRENT YEAR Balance at 6 April 2019 Gainsl Balance at {Lossesl 5 April 2022 Income Expenditure Unrestrlcted funds General Funds all funds Other General funds 3.950,015 1180,9941 320,991 4,271,006 1168,7661 138,342 1126,1141 3.769,021 138,342 1126,1141 320,991 4,102,240 STATEMENT OF FUNDS- PRIOR YEAR Balance al 6 April 2020 Gain BalanGe at 5 (Losses) April 2021 Income Expgndilure General Funds - all funds 3, 100.376 849,639 3,950,015 Total of funds 3, 100,376 849,639 3,950,015 Page 14