Charity No.. 241187 The Lady Forester Trust TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Decefflber 2022 WR Partners
The Lady Forester Trust Contents Page Reference and Administr4tbDn Trustees, reporl Independent examine15 report Receipts •md paymÈnts atcourit Statement ol assets and Ilabllr¢les Notesto the financial statements
The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2022 Trustees The Rt Hon. Catherine. Lath Foresier DL, Chief Fmecurive and Chairman The Hon. Mrs A.S Stoker MSIIDIPI Mrs H.E. Collinson, R.G. Mr H. Carpenler, Vile chairman The Rf. Hon. Lord Forester The Lady Forester MRICS M15 J. Stewarl Major C.J. Whilakcr Charity re4istration number 241187 Pr4r>cipal Dffi¢ The Estole Office Willey 8ioselty Shrop5hire TF12 SIN Accountants WR Partner5 Chartered A<counianis & starutory Audiors Shrewsbury Business Park Shrewsbur¥ Shropshire SY2 6LG Bènke Lh)yds Bank 8 High Streei 8ridgnorth Shrop5hire Investmnt Manacers EFG Harris Alldav 33 Greèr Charle5 Streer Birrningham B3 3JN 5ara51n & Partners LLP Juxon House 100 Sl. Paul's Churchvard Londo EC4M 8BU
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2022 The Tru51ee5 submit rheir annual repon and the fin)ncial stateTnen15 of The Lady Forester Trusi (the charityl for the year ended 31 December 2022. The Tiusiees c<)nfirm thai the annual report dnd Iinancial 5tatement5 01 thÈ chèrily comply with current statutory requirements and the requirernÈnrs of thp charrty's governin8 documeni. Strutture, governance and managemenl The Lady Fargstgr Trust is constituted under a trust deed daied 9th January 1979 and is 3 registered chariry Ino.. 2411871- Method of appointment or ÈlÈetlon ol tfusiees The mapa8crnenl of ilie chariiy is the responsibiliiy of ihe Trustecs who are elecred and co-opted under the terms of rhe Tru51 deed. The Trvsiee5 are appoiDted by the bpard of Tru¥i¢es and serve for live years after which period they may pul ih*msvlv•.g forward lor ro. appoinimenr The. body of iru5tee5 shall ron515t, when cornp1ele, ol ei8hl compeieni persotis and there sliall be 4 quorum wheri three Trusiees are at a meetin8 The Trustee5 meet quarterly ro assess 8ranl 4pplication5 to hear ihe report anLI inve5tmeni ie¢omrnendalK)ns from the Investment manager. Rlsk management The Trustees hève assessed the mèior risks to which the charity is exposed, in parli£ulèr those related 10 Ilie operiltiQ>n5 arid fiiiances of Ihe rh)rily, and arÈ satlsfled rhai SYSTems are in place to mana8e rhelr exposure to rhe major rlsks. Oblectlve5 and activitles Policbes and objeclive5 Tlie obie¢tivey of ilie chariiy •re 10 alleviaie Ihe svlferin8 or a55isI Ihe reco¥ery of persons Vdha are sick, convalesceni. disabled, handiEappEd Of Infirm where help 15 not fEadily available lo ihem Irorti vilier syurces,- firstly to ihe IDhdbitaiitS of ihÈ antiÈnr rioroueh of Wenlotk ènd ihen to thè Inhabitanrs of County of Shropshire. Grant makin8 policie5 The Charity Invites applicationg from Individuals oiher illslilulions. These applicaiions are reviewed and discu55ed ai the Tru5tee5' meeting5 a 9uarterly basi5. where 6rant5 are approved or refused. Appliiatlons are received trom individua15 and are usu3lly Dn the recommendation of GP'S and social worker5. ch.aritable instiiutions also approach the cho,'ii¥ lor graors alrhovgh the Trusiees will consider making 8ianis to oiher charitable inslltulions who do not coTrtacr The Trustees have given due regard to the Charity Comrnission'5 revised ¥uidance In respect of pblIC benefit and have conliiiued io cdrry ovl Ihe appropriaie grhnt making policy.
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2022 Achlevements and perlovmarthce Goin4 Con¢ern Alrer traking appropriate enquiries. the trustee% have a reawnable expectaiion thai ihe chariiy has adequaie resource5 to continue In operational existence for the foreseeable furure. For thi5 re450n they continue to adopt Ihe 6oing concern Revlew of artlvities The Trustees received application5 for granis from Individua15, relevanl medical prolessional bodies. Olher organisations and charitable trusts. A lutèl of £246,12312021.. £165.4951 was paid oui durin8 the yeJr. Investment policy and perforrnanre The Investments are held lor the purposes ol lurtherin8 the objective5 01 the chority. Inveslrnents èfe held between two inveslrTieni managomenl companies- FFG Harrls Allday and Sarasin. EFG Htyrrls Alldays The charity has an invegrmcnr policy that no rDore ihan 5% of rhe invesimeni should be In any &ouity, éxcluding Government stocks and collective Snvesimenrs. The invesirneni manager reports io the Trustees quarterly 3nd thp inve5tnieiits are rnanJBed by EFG Hariis Allday on è éiscretionèry bè51s wih his recommendaiions on investment. He is also In corrcspondence with rhe Chairman between meeiill85. In addition. consul¢ations may be held between ihe h8irman or Vice Chairman, on bebèlf ol the Trustee¥ and the Tru51ees arc notified accordin81y. Sarèsin The charily seeks lo bèlènte the nepds of turrent and fulurÈ bÈneficiaries, providing a reasonable levèl of current Income whllst rnaintaining the value ol the capital and income in real rerrns lafter Inflation). To achieve this. rhe Trustees invest in J bJlanLed mulll-assel oorilolio. Equilie5 form Ihe core of Ihe stialegy io priJ¥ide. long ierrn real growih whi151 bonds, property and alternative assets provide diversification ond returns which are uncorrelated to equitlC5. The Trustees implement ihÈ strategy by investine in thÈ Alpha Common Investment Fund for Fndowment5 whiih Is managed by Sèrasin & PirtnÈts LLP.
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2022 Financial review Reserves policy In dccordanLe Wilh the term5 of the iru5t ijeed. the inrt>me generaied has been alloc3red to the income fund which Sldnds at E129.479. whilst Inv@simenis and fheir movements have been alloc3¢ed 10 Ihe Lbpltal lund which %tAnds at £6.009,703. Whilli both fund5 are vnre51ricled and ian be ulilised lof Ihe obiecrives of the charity. Ihe Trustee5 only disiribuie Incorre and the èttumiilaipd Income fund 15 left to aciumulate. The actumulaied inr.ome tJnd h35 hisrorically been held lor emergency luDdiiig ol majtsr pcojecis. Capital movemenrs are left to enh4nre Itie capital vèlue of rbe Inwe5tmenis and honc& to ensure rhat the chaiity will hève Income to distribute In future years. There 15 a surplus ID frttr rostrves Ibè.Ing unrestricted Income fbnds. as éefined in the Ae5eive5 Policy) Jff129,479 12021.. £168,519). The Tru5tee5' reserves policy is to mainiain free reserwes 01 a level equivalent to nine rnonth5 expenditure. Basls of accounting The accounis ol the Charity have been prepared OD è Re<e*pts and Payments basis in accordance. with charity re8ulation5. This report was approved by the Tiustee5 On Zo fttr&13oZS nd signed on their behalf by-. The Rt. Hot). Catherine. Lady Forester DL Chlef Executlve and Chairman
The La(ty Forester Trust Independent Examiners Report For the Year Ended 31 December 2022 I report to rhe charity trustee5 on my exarninaiion of the attounts of rheTrust for the yeèr ended 310ecember 2022 which are set oui on pèges 610 8. This report is madp solely to the charitws Trusiets. ès è body, In èccordance wilh section 145 of Ihe Charities Aci 2011 and regularions made under section 154 of thar Aci. My work ha5 bpen undertaken so rhat I might sièie ro rhp. charity's Trustee5 IhosÈ mailers l am teouirvo to <taie iothem in an Indvppndent Exarninerf5 Peport and for no olher purpose. To the fullest extent permitted by law. l éo not attepi or assume responsibility to anyone other than the charity and the hdrity's Trustees as a body, for my work in this repgrr. RespÈctlvé responslbllltles ol itustees and exaffllner As the e.harity's t¢ustee5 you afe responsiblefor the preparalion ol Ihe accounrs In ac¢ordance with ihe re4uiremonts of I report in re4pect of my Èxamination of the charity's accounts carried out under section 145 of the Act and In cairyins out my exarnination I have lolloweé all Ihe applicèble Direciions 8iven by the Charitycommission under secrion 14515llbl of the. Act. Independeni ex#minet's siattmènt I have complp.ted my e.xamlnatlon. I confirm that no maierial mailers hive corne LO rny aiieniK)n in connection with ¢he examination 8iving me cause to believe ihai ¢n èny mèterial respe£t-. arcounting re¢ord% were kept ity respeti of tbt £harity as required by section 130 01 the Act., or the accounts (to not accord wirh those rEcord5. I have no concerns and have come across rK) Qtho.r matttrs In connection with the exatnin3rion to which attefitlcn .%hould be drawn Iri th15 rÈport In orderto enable a proper understandine of the atcounts to be reached. T Lunt 8A FCCA MIRPM WR Paririers Chartered Actounrènts Shrew5bury Bu5ine55 Park SY2 SLG Dare.. 1710412023
The Lady Forester Trust Receipts and Payments Account For the Year Ended 31 December 2022 Unrestricted Restricted 2022 2021 Recelpts 125 229.274 Investrneni Intome ank interest Bdnk r.ompen53tion Tax refund 227.353 48 227.353 Total Receipts 227,406 227,406 229.403 Paymvnts Grants oayable 140.229 105.894 2,232 140.229 105.894 2.232 35 1,081 277 2.581 238 87,OQO 1,488 35 1,023 285 2,929 Accouniancy lee5 Le8al and profe5510nal fee5 1,081 277 2.581 238 Stationery. postage and 5unéries Off5r.o oouipment, IT support and rental 1.006 13.804 1.490 9.632 2S3 9.632 2S3 88 HM Rè.vpnup % CLJ%roms INI) T8k free bnnus 1.500 Toial Payments 789 149 Net IPayment511 Reieipts- unrestrittÈd funds Cd5h and Bank Balance5 brought forward 137,0401 166.519 137,0401 166,519 40.254 126,265 Cash and Other Assets Carrd Forward 129479 166 519
The Lady Forester Trust Statement of Assets and Liabilities For the Year Ended 31 December 2022 UnreSlflct¢d Re#tted 2022 2U21 Bank and Cash Balances Investmenr hciouni Currenl account 126.870 126,870 2,609 129,11?9 155,469 Jl.050 129.479 Investment asset5 EFG Harri5 Allday Sarasin EFG Harri5 Alldoy Sarasin 3.146.232 2.857.315 6.132 24 6,OD9 703 3.146,232 2.857,315 6.132 24 6,009.703 3,688.857 3.262, 709 9,J48 C05h 5ettlvrnent- 6 960 7J4 Total asstts 6,139,182 7,127,233 6.139,182 7 127 235 The accounts wtre appro¥ed by the Trustecs on and signed on iheir behdll, bv.. et The Rt. Hon. CaihÈrine, Lady Forester DL, Chief Exe<uti¥e and Chairman
The Lady Forester Trust Notes to the Financial Statements Trustee5 remuneratSon and related party transaction5 During the year, no Truste¢s received any remuneration12021.. Nlll During the year. no Trustee5 received any benefits In kind12021.. Nil) During the yoar, no Tru5tee5 received reimbursement of e¥penses12021'. £Nil I