Charity No: 241187 The Lady Forester Trust TRUSTEE'S REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENOEO 31 Detember 2021 WR Partners The Lady Forester Trust Contcnts Referenceafid Admlnlstratton Trustms, Mport Ind•p•nd•rt •x•mWwrs r•port Re¢elptsaThl paym•ntsarcount sfaf•m•rtol•M•ts Ind l￿bIlItI•l NoteJtoth• fln•nd*l tht•mqnts The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2021 Tn￿e&S The Rt. Hon. Catherine, Lady Forester DL Chief ExecutNe and Chairn)a The Hon. Mr$￿$ Stoker MSIIDIP) Mrs H.E. Collinson. R.G.N Mr Ft. Carpenter. Vl¢e Chalmian The Rt. Hon. Lord Forester The Lady Forester MRICS Mrs J. Stewart Major CJ. Whitaker Chirlty T•￿stratI1)n nurnb•r 241187 Prlnclpal oifke The Estate Offi Willev eroselev Shropshl TF12 SJN Atcountants WR Partners Chartered Accountsl￿ & StatutoryAudlors Shrewsbury Buslness Park Shrewsbury ShropshiFe 5Y2 6LG Bankers Uoyds Bank 8 Hilh Street erid8north Shropshire Investment Mana8w5 EFG HarrfsAllday 33 Great Charlesstreet Binningham 83 3JN Sarasin & partne￿ LLP JuxoTh HoL4e IC(15t. Paul'schurchyard London EC4M 8BV The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2021 The Trustees submitthelr annual report and the fiTrandal statements of The Lady ForesterTrusi lthe tharftyl fort￿ year ended 31 December 2021. The Trustee5 confimi that the annual ￿port and flnancial statements of the charity comply wSlh current 5tatulOry reqlilfeff￿ntS and the requirementsof the tharlty'sgovernl￿ do¢umenL Structure, 6￿emarICe and managèmènt Constltutlon The Lady ForesterTrust Is consthuted under a trust deed dated 9th JaTh￿ry 1979 •nd Is a registered tharfty Ino.. 2411871. Method of ippoln¢m¢nt orelectlon of trustees The managementof the charity is the responsibility of the Trntsiees twho are elected and cotyed underthe terms of the Trust deed. ThtTru5tees are •pptslnted by the board of Trustee5 aryj sef¥e forfve yearsafter wknith period they may put themselves forward for rtrappoiniment. The body of trustees shall con5iSt, when ¢omplete. of elght ¢omp¢t¢nt persons and there 5holl be a quorurn when three Trustees are at a meeting. The Trustees ffjeet quarterty ioassess 8rant appllc•¢ions and to hear the report and investment recommtndètions from the investment manager. Alsk mana8ement The Tru5tee$ have assessed the mèlor risks to whKh the charity is exposed, in particular those ￿lated to the operatlgns nd finances of the charity. and are satisfied that systems are in place to manage their exposure to the major risks. ObSertl¥es and artlvltles Pollctes and oblertlves The objectlves of the charityare to allevrate the Su￿riNg orassist the recoveryof persons who are slci convalescent. dl%abl•d. h3ndlcappgd or infirm Trwh•r• hdp is •ot r*¥01￿ av¥il¥bl* io th•m frorn other %OUfC•S.' firstty tr> th* inhabit¥Thts ofthe andent Borough ofwenlock and then to the inhabltsnts ol the C￿Trty ol Shrop5hire. Grant makln8 poll£E•s The Charty iTrviies appllcadons from 5ndividua15 and other institutions. These aPpI￿allonS are ¥eviewed and dlscu$5ed at the Trustees, rneetifi￿ on a 4u3rterty basis. vknere yanis are approved or refused. ApplKation5 are received from indiwduals and are usually on the recommendation ofGWs and social workers. charitab￿ Institut￿￿5 a150 approach the charity for grants altlw)ugh the Trnsteeswill consider makinK8rantsto othertharitable instttulions who do not contatt thern dirertly. TheTrustees have given due re8ard tothe CharityCommissKJn's revisedguldance In respect of public benefitand have continued to carry out the appropriate grant makiTr8 policy. The Lady Forester Trust Tru5tee5' Report For the Year Ended 31 December 2021 AcPAe¥ementsand perfrnn¢¢ Goln¢ ¢onc¢m After mèking appropriate enqulries. thetrustee5 ha¥e a reasonable exwctailon ihat ihe has adequate resources to continue in operational existence for the foreseea￿e future. For thls reason they contlnue to adopt thegdng concem basls in preporint the financial statements. Revlew of actlvltle5 The Trustees recelved applleatSons for gr•nts from indNiduals. relevant medical profe55•)nal bodie5, Other organi5a￿0nS èno charitable trusts. A total of £165,49512020.. É164,0451 was paidout duringthe year. Iwestm•rf poll¢y and perforniifi The Investments are held for the purposes ol I￿rther1￿6 tht objertNts of thetharfty. Investments are hekl between two Investment management companies- EFG Harris Allday and Sarasin. EFG HarrfsAlldays The charlty has an investment policy that no m¢Me than 5% of the Investment should bE In any equlty, excl￿1￿nI Government stock5 and collective snvestments. The Investment rnana8tr iep(*ts to theTru5tees quarterly and the Investments ère managed by EFG Harr1$ Alldoy • dls¢retionary basis with his recornmendation5 on investment. He15 also In correspondent¢ with Chairnian between meetln8s. In additloTr, coThsultstSons mav be held between the Chalrman ￿ Vlce Chalmian. on behalf ot the Trustees, and the TNAees are noElfied ac(ordlwty. S•r•sln The Charity SEek5 to balance the need5 of current and future benefidarie5. providinga reasonable level ol current incomp whllst mainiaining the value of the capital and income in real terms (after inflation). To a£hie¥e this. the Trustees invest In a balJne¢d rnultl 0SSCt portlolio. Equities form the core of the strate8y to proYide1on8 temi re418rowth whilst bonds, pfopèrty and alternative a55ets provide dNer5ification and retums which are uncorrelated to equitle5. The Trustee5 implement the strare8y by in¥estlr*g In the Alpha Common Investment Fund for Endowments which is Managed by Sarasin & Partners LLP. The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2021 Flnanclal revlew R•seThe$ pollcy In accordance with the term$ of ihe trustdeed. the IT￿orne generated has been allocated 10 the IAtome fvnd which stands at £166,519, whilst inve5tmeAts and thÈlr movemeThts ha¥e been allocated to the capital fund whlch stands at £6,960,714. Whllst both funds are unre5trirted ond Can be utlllsed for the obtrettiyes ol the tharity, the Trustees only distribute income and the atcumulated income fund 15 left to a¢¢umulate. The accumulated incorne fund has historically beert held for emergencyfundin8 of major projetts. Capital rnovements are left to enhance the capital value of the Investments and hence to ensure that the tharitywill h•¥e income todistribuie in future yeats. There Is a surplus In Iree r•s*rv¢s LtThfestrkted Income lunds, as defined In ihe Resetrves Pollcyl of E166.S19 12020.. £126,2651. The Trustees. reserves poll¢y 6$ to malntalTr free reseryesat a I￿1 equivalent to nlne mnths expendlture. Blsls of attountl The accoufiis of ihe Charlty have been pre￿￿ on a Ae¢elpts and P3yment5 basis in accordance wlth chartty regulatlons. Thls report was approved by the Trustee5 on 21 Zo2Land s18ned on thelr behalfby.. The At. Hon. C*th¢rtne, lady FO￿sterDL thl¢f Ex¢twl¥e and Chaliman The Lady Forester Trust Independent Exarniner5 fteport For the Year Ended 31 Decembef 20ZI I report tothe charity trustees on my exarnin3t￿ of the ￿COUnts of theTrust for the year ended 31 December 2021 whlch are set out on page$ 6 to 8. This ￿ptsrt is made solely to the tharivs Twstees, as a bth. in 3CCOfdancewith section 145 of the Charities Att 2011 and re8ulètiens made under sectlon 154 of that Acl. Mywork has been undertaken so that l rni8ht state to the charit¢5 Trustees those matter51 •m required to State to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law. I do not accept ora55ume responslbllty ioanyone other ih?Th the thadty ind the charlty'5 Trustees as a bod¥. for my work in this report. Re$perf￿• r•sp0n$lbll￿18S of tru5tee5 •fKI examlner As rhe ¢harltVs trustees you are re5p)n51ble forthe prepar*lon of the¥cwunts In a¢¢ordaficewith the requirernent5 of the Charities Act 20111.the Actrl. I report In respe¢1 of mye¥èmination ol the charity5 accounts Carried under sertlon 145 of theAct and in ¢arryln6 eut my examination I have followed all the applicable Direttion$ given bythe Charity Comrnission undersection 14515llbl of the Act. lfidependenl examlner's st•tem¢rt I have completed my examination. I conlim that no material matters ha¥eume to myattention in conne£tlor5 vAth the examlnaiion gwina me cause to believe that in any materi31 respe£t'. accountlng records were not kept In vespertof the charityas requlred by sec¢lon 13001 the Ad.. or the accounts do accord with those re¢ords. I have no concerns and have ¢ome •uoss ntsiAher matters In connettion wilh the examlnation to which attentlor* should be drawn in this report in order toenable a proper understanding of the acttyjnts to be reached. T Lunt WR Partners Chartered Accountants Shrewsbury 8uslness Pa SY2 6LG Date.. 1810512022 DA FCCA MIRPM The Lady Forester Trust Receipts and Paymcnts Account For the Year Ended 31 December 2021 Unresulrted ftestrkt•d 2021 2020 R•c•lpl* Dtsnatlons Investment income Bank Interest Bank compensatlon Tax refund 125 229,274 125 229,274 45 208.146 33 402 Tot41 A•c•lpts 229A03 229,403 208.626 Paym•nts Gianis payable to indlylduals 78,495 87,C 1.488 3$ 78.495 87,000 55,358 108,687 Ac¢ountancy lees Legal and prolessional I￿$ Travell1r￿ expenses Tru51ee's liability insuian¢e Penslon contributlons LSght, heat, water, cleanin& telephone siatK)nery. postage and sundries Olflce equipment. IT support and reThtal Liaison officers, lees and expenses Secretary's salary Tax free bonus 35 35 1,023 1,4 28$ 2.929 1,023 1,490 28S 2,929 1.463 200 1.777 1,144 2,052 11,260 13.804 13,804 Total Payments 189.149 189,149 185.392 Net (Paymentsll Receipts- unresir5tted fuTrd5 Cash and Bank BaLBnces brought forward 40,254 126.265 40.254 126,265 23,234 103.031 C•sh and oiherAssets Ftyw• 1fj6.519 186,519 124265 The Lady Forester Trust Statement of A55ets and Llabllltles For ihe Year Ended 31 December 2021 UM¢51Flrted le51rfcted 20Zi 2020 Bank and Cash B•lan¢ Imiestment account Current account 155.469 11,050 166,519 155.469 11.050 166.519 123,816 2,449 126,265 Imiestmtnt a5setS EFG Harrls Alkdav 5•r•sin EFG Harrls Alldav Sarasin 3,68&857 3.262.709 9.148 3.688.857 3.262.71YJ 9,148 3,466,127 3.045.027 6.625 Cash settlerneTht- 6.%0.714 6,960,714 6.517.779 Tffjil ass•ts 7,127,231 6.644,044 7,127,233 6.644,044 The 4¢¢ounts were approved by theTiustees i)rt nd slgned on their behalf, bv.. Th¢ Rt. Hon. Call￿￿*. Lady For•st•r Chlef Executt¥e and Chalmi The Lady Forester Trust Notes to the Financial statements Trustees remuneratlon afid related party trakisartlons Durln8 the year, no Trustees received any remuneration12020.. NIII Durlng the year. noTnJsiees received any bènefits in klnd12020.. Nill Durin¥ the year. no Trustees recelved reimbursement of expenses12020'. 5 Trustees. £6871