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 An5 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 p￿blIC 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