Charity No.. 241187 The Lady Forester Trust TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Derefflber 2020 WR Partners
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The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2020 Tvust¢¢s The At. Hon. CheriThe. Lth Forester DL Chiel Executive and Chairman The Hon. MtsA.$ 510ker MSKDIPI Mrs M.E. Collinson. R.G.N Mr H. Carpentef, Vlce Chalrm•n The Rl. Hon. Lord Foresier The Forester MRICS Mrs J. Stewart MaN)r C.J. Whk•ker Charlty r•ib5tratlon numb 241187 Prfn¢lp•l •lA¢¢ The lstate Olliet Willev Broseley Shropshire TF12 SJN Wfl PartThe¥s th•rtered A((ounionis & 514luiOry Audiors ShrewSry 8v5ine55 Park Shrewsbjry Shropshire SY2 6LG Lknyds Bank 8 H¥dh Strett BrwtKJfih Shrop5hire EFG Harris Allday 33 Great Charlesslrett Irmin&ham B3 3JN Sarasin & Partners LLP Jijxon Hous i(1) St. pa.5 Churthyard London EC4M 8&V
The Lady Forester Trust Trustees. Report For the Year Ended 31 December 2020 The Trustees subrnit their annual repon and the financial statements of The L•(ty Fore5tw Trnst (the £h8rityl fof the year ended 31 December 2020. TheTrustee5 confirm that the annual rerwr and financial staternerbt5 of the charfty comply with current statutory requirements and ihe requlrements of the chariV$ 8overningdocumeni. Structure. govern(e and management Cohstltutlo The Lath ForesterTrust15 C0Th5tituretl undera tntst deed dated 9th January 1979 15 1 roistered chartty Ino.. 2411871. Method of appointment or •le(¢ion oltruste The manjgernent ol the charitv IS Ihe responsibility of thtTrustees who8 elected and (Npted under the term5 01 the Trust deed. The Trustees are appointed by the board ol Trustees and serve lor fl¥eVe afterwhith period they mty put themsdves forward lor re-èppointmeni. The body of irustee5 shall consist. when cornplete, ol th1 cornpeient person5 and there shall be ¥ quorum when three Tw5tees are at a meeliTr8. The TrLbSte¢s meet quartedyto asse55 8r4n¢ applications and t¢ hear the repDrt and Investment recommendationsfrom the Investment m•n•8ef. Rlth manapmefit The Trustees h•ve assessed the major r45ks towhith the tharlty & expwed. in parularthose relatéd to the operations ond finances of the charitvi and are S•¢i5fled that systems are in ple to rnafwfje their exposure to the m•ior fisks. Obl•rtl¥•s and actlvltl•s P¢ll¢le •nd obhedè4es The objectives of the charity are io allevi•te thesuFlerin6 orasslst the of persons are slck, con¥4lesctnt, di5•bled, handicapped or Infirm where help 15 not readity availableto them from other sources: fbrstly tothe inhabit•nts of the ancient Borou8h ol Wenlock and then tothe inhabirants of the Qwntyof Shropshlre. Gr•nt maklni pollcles The Charity invite5 applic•tlons from indNidua15 and other irbStitulioThs. These afflicat5 are TleWed and discussed at the frustees, rneetin8s on a Quarterly basis. wheregrarbts are appred OT refused. Applications ère received Irom individuals and are usually on the rKommendation of GP'S and s(Kial wcKkers. Charitatle in51itutions also approach the thtyrity for 8rènrs èlthou8h ihe Trustee5 will corbsidef makir48ranis to other chariiable institurion5 who do not (ontact them drertly. The Trustees have given due regard to the Charity Crrfnmis5iOn'5 re75ed8uKlarb£e in respett of befiefit and have continued io carry out the appropriate irani makn.fig poly.
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2020 Achbevements perfOrnnCe Concern After makln8 appropriate enquiries, the trustees have a rea$8ble expectaliafi that the charity hès adeouète vesourtes tp continue In operational existence for the foreseeable future. For this reason they corbtinue to adopi the going con£Èrn sis in preparin8 the fit)anciil st•temtnts. Revlew The Trustee5 recelved applkatlons fforgrants Irorn indiwduals. reltyani medic•1 profe55ional bodies. other orgartltIQrts nd charitable trusts. A tot•1 01 £164,04512019.' £126.7141 was paid out durin8 the year. Invtttmèrt pollcyand perfomirt• The in¥e51rnenis are htld for the purpD5e5 01 further1ngtheobjeat50f ihe ¢harity. IestmentS are helo between two in¥estrners¢ m•na8ernent companies- EFG Haffis Allday and Sarasin. EFG Harth Alld• The ch4rity ha5 an invesimefit policy thar no more than 5%of ihe ifive5trneTri shtyjld be in any equity, Iding Government stocks and collectSve Investmen¢s. The ifivestment rnanager rerts to the Trustee5 quorterly and the Investment5 are rnana8ed by EFG H¥rris Alldoy on a discretionary basis with his re(ommen(ations on investmeni. Hels •lso in correspondet)cewith the Chairman between meetlny. lfi addition, consultations may be held between the Chairman or Vke Chaiim•n. on behalf of rhe Trustees, and IheTrustees are norified ac£ordin8ty. Sat•slD The charity Seeks to balance the needs of current and fUle boneficiaries. prwdin8 a reasonae level of current incorne whllst maintai)ing the value of the capital and income in real rerms lafrer inllationl. To achieve Ihi5, the Trustees Invest In a bolanced multi-assw ptslllolio. Equitles form rhe core of the strate¥y to pro¥*de lon8 term rtal 8TQWth whilst bond5, property and alternaii¥e assets provide dfftrsifi¢ètion and returns whlch are uncorrelated to equitle5. The Trustees implement the straregyby invtstin8 ITh the Alpha ComTh)Tr Investment Fund for Endowrnents whkh is managed by SarI5in & Partners LLP.
The Lady Forester Trust Trustees. Report For the Year Ended 31 December 2020 Fknan¢i•l revlew Reserves pomcy In accordance with the terms of thetrvst dee the incthnegenerated ha5 bEen alkncaied to the Income fund whkh siands at £126.265. whilst inYe5trnents and their movements have been alk<ated to the tapital lund whlth stand5 at f6,517,779. Whi15t both funds afe unrestrKied arbd can be utilised for the objÈttives of thecharity, the Trustees ofily distribute income and ihe accurnulared intome fund is left io Kcurnulate. The accumtAaled income fund has historically been held for ernergency funding of major proje¢is. Cawtal are left io enhance ihe cawtal valueof the Investmenrs and hence to ensure that the chariiy 11 have income to (Ibstribute In luture years. There Is 4 surplus In free reseThes Ibeln¢ Unrestre0 income lund5, as defined in the Reserves Polityl of £126,265 12019.. £103,031). The Tru5tees' re5eNes pollcy Is to Ma101n Ir reseThes at a level equIv*t io nlne months expenditure. Basls•1•c¢oI1i The accounts ol the Charity hove been prered on • Rtteipts Ond Pa¥meThts twsis in xcordan¢e with charity re8ulaiion$. Thi5 report was èpproved by the Trusiees on and s18ned on their beh•lf tsy.. ,{ 2011. The Rl. Hon. Catherkne, W Ftyth¢rOL ChlelEK•cl¥e and Chalrman
The La(ty Forester Trust Independent Examiners Report For the Year Ended 31 December 2020 I report to thecharitytrustees oh my txarNfiatx)fi ¢)f tht •tewntsof tht Trust forthe ytar tNded 31 Oecember 2020 which are set out Oh PW5 6 to This report is made sc4ely to the charirfs Trustees, as a W, in accordancewith section 145 of the ChartieS Aci 2011 and re8ulations made under section 154 of that kt. W work ha5 been undVI4k 5Llthat l rn18ht State to the charitrfs Trustees those malters l arn required rostate to them in an Independent Examinerfs Rewn •nd for no other purpose. To ihe ftsllest extent permitted by law. I do Mt xcew or asswn¢ pOnslI[V io anyone othef than the charity and the charity's Trustees a5 a body. for my %yk in ihi5 report. Respertlvo respon1Q5 of tru5tee5 and ewamlner As ihe charky's trustees you I resFonslFAe forthe preparn of the in accordwce wlth the requirements of the Charitles Att 2011 Ilhe Arfl. I report in respect of rny examination ol the charit(s occount5 rried•U¢ under wtion 145 of the Aci and in carrylng out my examination I have followed all the OPable tsre(tiOD5 wven by the Charit¥ commiss)n under sectio 14515llbl ol the Act. Ind•p•ndent ¢Mamknerfi stst•ment I have completed my exarnlnation. l confirrn rhat material matier5 h0veco to my •iten¢KJn in conneciion wlth ihe examination 8ivin8 me iause io believe that in èny material respfft". ccountin8 records were not kept in respect ol ihe charity as requived ty SeCtn 13001 the Att.. or the •¢¢ouniS dts r1 •¢tord wilh those rtciwds. I hove rK) concerns and have corne xro55 novlher matters in ¢onnrti(m with the examination to which attentk)n should be drawn ¢n this repon in order to eTrab a proper undersrafidiTrg of the 3£¢ouN¢s to be rÈa£hed. FCCA MIRPM WR P¥rter5 Chartered A¢tountants Shrewsbury Bu5ine55 Park SY2 6LG Date.. 0610812021
The Lady Forester Trust Receipts and Payments Account For the Year Ended 31 December 2020 2019 R•c•lpts Oonations Investment Income 8ank Interesi Bank compens•tioTh TaK relund 45 208.146 33 402 405 212,431 31 208.146 402 Tot•1 Ae¢¢lpts 201628 208,828 213,667 P•ym•nts Gr4]n15 payable 55,358 1(.687 58,S75 68,139 1.740 to instiiut10Th5 Actountath¢y fee5 Legal and professional fee5 Trave11ini expenses Trustee's liabiir(y Insuran¢¢ Pension ContblI0S Ll8ht, Heat, Water, Cleanln& Telepkne 51ationery, posta8* and sundries Offite equipment. IT 5UPPOrt and rerbtsl Lla150n officers, lee5 and expenses starv,s salary 108.687 35 35 924 859 1,463 200 1,777 20) 21 2.743 10 2.264 11.123 2.0$2 11.280 2.052 11,280 Toi•l P•ymeAts 185.J92 18S.392 147,923 Net (Paymentsll Receipts- unrestrKted lunds C•sh and 8ank B)lonce5 br+x¥hi I03rd 21234 103.031 23.2J4 103,031 65.744 37.2•7 Cash and Other As•Ats Carritd Fon¥ard 126.265 128.265 103.031
The Lady Forester Trust Statement of Assets and Liabilities For the Year Ended 31 December 2020 Unresiylrted ReStrItt 2020 2019 Inve51ment account Curreni account 123,816 2.449 J26.265 123,816 2,449 126.265 202.031 103,031 Imltttment •u•ts EFG H•rrs Alldav Saras¢n EFG Hairis Alld•v Sarasin 3,466.127 3.045.027 6,625 3.466.127 3,045.027 6,625 3,46J.673 1.871.210 4169 Cjsh settlement- 6.S17.779 6,517,779 6,341,056 6,644.044 6.444,087 6.644.044 &444,087 The aecounts were appred tyth¢ Trustees ¢Jn and sned on thelr behalf, b¥.. 31 2011. Th¢ Rl. Hon. Calherlne. i•dy For•ster D thl•f Exe<utlv• and Chalrnian
The Lady Forester Trust Notes to the Financial Statements Trustees renxbneratlon and related party transactlons During the year, no Trustees rrfefjved any remunefation12019= NIII During the year. no Trustees rKei¥ed any benefrts in kind12019.. Nil) Durlng the year 5 Trustee5 r*c•ved relmbursemeni of expenses amountin8 to £68712019. 6 Trustees. £8741