Charity No.. 241187 The Lady Forester Trust TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOA YNE YeAR E14DEO JI Dember2023 WR Partners
The Lady Forester Trust Contents P4e Reference and Admln151ratlon Tru$t••$' rnport Independetht examlneys report Recelpts and payme1 account Statement olass•ts •nd I1•bl11•S Notes ¢0 th¢ ftnanclal statements
The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2023 Trustees The Rl. Hon. Catherine. Lath Forester OL Chief feclVe an Chairman The Hon. MfsAS Sioker MSIIDIPI Mrs H.E. Collinson. R.G.N Mr H. Carpenter, Vice Chairman The Rt. Hon. Lord Foter The L¥0* Forester MRICS Mrs J. Stewart Major C.J. Whiiaker Charlty iezbstratlon number 241187 Pdn¢lpal offi The Estateollke Wlllty BleY Shropshlre TF12 5JN A£countants WR Partners Chartered Accountanis & StaiuiwAudlors ShreW$Iry 8uslAe$5 Park Shrewsbury 5hropshi SY2 6LG Bankers Uoyts Bènk 8 HKih Street Brbd8nDrth Shropshire Investment Mana8ers EFG Harris Allday 33 Great Charfes Street Bimiingham B3 3JN Sarasin & Partners LLP Juxon House i(X) St. Paul's Churchyard London EC4M 88V
The Lady Forester Trust Trustees. Report For the Year Ended 31 December 2023 The Trustee5 submit their annual report and ihe nnancial siatements of The Lth ForesierTru5t Ithe charity) for the year ended 31 December 2023. The Trustees confirm that the annual rekx)rt and financial statements of the charity comply with current statutory requirements and the requiremenis of thecharty's8o¥ernin8 document. Structure, governan and management Con$¢ltutlon The La* ForesterTrust Is const5tuted under a trust deed d•ted 9th J•llry 1979 and is a reaisiered ¢harity Ino.. 2411871. Method ol •ppolntm¢nt or electlon ol irustee5 The management of the charitv 15 the re5pon5ibility of the Trustees who •re elected and ¢tropted under the temis of the Tru$t deed. The Trustees are appolnted by the board of Trustees and serve forfweyeJts after whith period thry may put thernselves forward lor re-appointmeni. The body OF trLtstees shall consisL when cornpe. of eight competent persons and ihere shall be a quorurn when three Tru5tee5 ère 0¢ a rneeting. TheTrustees meet quartedyto ¥ssess grant applications and to hear the report and investment recommeTrdation5 Irorn the investment mana¥er. Rlsk mana8¢ment The Trustees have assessed the major r15ks towhlch rhecharlty Is exrtyxed. In partlcularth05e related to the operatlons nd flnances of the charity, ond ore 5¥t15fied that systems are in pla¢e to man88e their exKx)sure it) the major risks. Oblectlves and artlvltles Poll£les and oblectlves The oblertives of the charlty are to alle¥iate the sufferin8 or assist the recovery ol persons who are sicl convalescent, disabled, hondicapped or infirm where help is not readity available tothem from othersources.. firstly to rhe Inhabltants of the anclent eorou8h of Wenlock and then to the inh•bit•nts tsf the Courtty of Shropshi. Grant makirt8 poll¢les The Charity invites applications from individuals andother institutlons. These applKailons are reviewed and discussed at rhe Trusrees, meeilngs on a Quarterly bas15, where Erant5 are approved or refu5e¢J. Applscaiions are recelved frorn iDdividual$ and are usuaify on the recommendation of GP'S and social workers. Charitable insiitution5 also approach the charity for 8rants although theTrustee5 w¢ll consider ffltykinggrants to other<h8ritèble institutions who do not tontad them dirertly. The Trustees have given due regard to the Chariiy CommissK•n's reld guidJn(e in respect of public benefit and have continued to carry out the appropriate 8fant making W)1Y.
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2023 Achbevements and performance Goln8 Concern After making appropriate enquiries. the trusiees have a reasonable expectation that thecharity has adequate resource5 to Continue In operètlonal exlstènce for the foreseeable Ivre. F¢y ihis re•$on thty¢ontinue io adopt the going concern basi5 in preparing the financial st3ternents. Revlew ol •rtlvllles The Trustees received opplication5 lorgrant5 from indNiduals, relevant medical prolesslonal bodie5, Other or8ani5ations and chariièble trusts. A total of E227.71412022-. £246.1231 was ld durir48 the year. Investment pollcy and performance The investrnent5 are held lor the purposes of furtherlnB theobjethesof the charity. ITwestment5 are held between two investrnent management companles- EFG Harris Allday and Sarasin. EFG Harr1$ Allday$ The charity ha5 an inve5trnent policy that no more than S%ol the investment should be in any equity, excludin8 Government stocks and collettive investments. The invesiment manager reports to the Trustees quarterly and Ihe inve5trnents are rnana8ed by EFG Harris Allday on a discretionary basi5 Wlth his recommendations on investrnent. He 1$ also in correspendence wlth the Chai¥man between meetings. In addition. consultations may be held between the Chairrnan or Vice Chairman, on behallof the Trustee5, and theTnbStee5 are rtif*d accord$n8. Sarasln The charity seeks to balance the needs of current ènd future beneficiaiies. providing a reasonable level of current Income whilst maintainin8 the value of the capital and income in real terms lofter inflationl. To achieve this, the Trustee5 invest In a balanced multi-asset portfolio. Equities form the core of thestrate8y to pThde longterm real growth whilsr bonds. property and alternative a55et5 provide diver5ification and retums which are uncorrelated to eqvitie5. The Trustees implemenr the 51raie8y by investing in the Alpha Common Investment Fund for Endowments whi£h is managed bv Sarasin & Partners LLP.
The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2023 Flnantlal revlew Reserves poIIcy In accordance with theterm5 of the trust deed. Ihe income8enerated ha$ been ¥lk>cated to the income lund whKh stand5 at £128,997, whilst invesiments and their movernent5 have been allocated to the capiial fund which stands at £6,072.8(1s. Whi15t both funds are unre51rKted ond can be utilised lor the objectives of the charity. the Trustee5 only distribute Income and the accumulated income fund is left to ac¢umul¥te. The accumulated income fund has historicalNf been held for emergency furiding of major projects. Capital rnovements are left to enhance thecapi1O1 value of the investments aThd hence ro ensure rhat the charity will have income to diStribe in futureye¥r5. There is a 5urplu5 in Iree reserves (being unresirlcted IrKome funds. as defirted ifi the Reserve5 Policyl of £128,997 12022.. £129,479). The Trustees. reserve5 pollcy Is to maSntaln free reserves at a level egul¥•lentto fiine months expenditure. Bas15 of accountlnl The account5 01 the Charlty have l)een prepared on a Recelpts and Payment5 basis In accordance th ch•rity ieiul¥tions. This report wès approved by the Trusteeson 27.7.24. and signed ty) their behalF by-. ierL The Rt. Hon. Catherlne, Lady Forester DL Chiet Ext¢ytfve arbd Chalrman
The Lady Forester Trust Independent Examiners Report For the Year Ended 31 December 2023 I report to the charity trustees on my examination ol the accovntsof the Trust fortheyear ended 31 December 2023 which 0 set (Mjt on pages 6t0 a. Thi$ report is mède solely to the charity's Trustees, as a boty, in accordance with section 145 of the Charities Art 2011 and regulation5 made under section 154 of that Att. My work has been vniknaken so that I might state to the chèritvs Trustees ihose matters l am require(I ro state to them in an Independent Examinee5 Report and for no other purpose. To the fullest extent permltted by law. I do not Cept or assume SPOnsi111¥ to atwoneother than the charity and the charity's Trustees a5 a bodyi for my work in thi5 report. Respectlve respvnslbllltb•s of •nd x•mln•i A5 the ¢haritrf$ trustees you I responslblefor ihe preparat4on of the4cTrts In aOrnCe wlih the qUIreMentS of the Charitle5 Act 20111.the ACVI. I report in respect of my examination of the charitys ac(ounis carried out under section 145 01 the Act and in tarrying out rny examinaison I have followed all the appllcable Dirertions 8lven by the Chadty Commls5ion under Section 14515llbl ol the Act. Independent examlner's statement I hève completed my examination. I confirm that no material matiers havecome to my attentlon ITh connection with the examination 8ivin8 me cause to believe that in any materi& respect.. accountlng records were kept In respett of the charity as requlred bysection 130of the Act; the att¢Funts do hot accord with those re£¢ds. I h8ve no concems and have come across other matters In connectlon th ihe examlnation io which attention should be drawn in this repDrt In order to enable a proper understandifiiof the attounts to be reached. T Lunt WR Partner5 Chartered Accountants Shrew5bury Business Park SY2 6LG Date.. 1510412024 BA FCCA MIRPM
The Lady Forester Trust Receipts and Payments Account For the Year Ended 31 December 2023 Unre51rfcted Restrkted 2023 2022 Rgcglpts DonatSons 37,202 211.094 736 37.202 211.094 736 Investrnent income Bank interest 227,353 48 Total Rerelpt5 249,032 249.032 227,406 Paymgnt• Grants payable 186.614 41,100 2.040 1,285 693 1.113 277 3.102 10 2.289 10,531 289 171 186,614 41.100 2.040 1.285 693 1,113 277 3,102 10 2.289 10.531 289 171 140,229 105,894 2,232 35 Accountancy fee5 Legal and professional lee$ Trustee5 travelling expen5ts 1.081 277 2,581 238 1,906 9.632 2S3 88 Light, heal, water, cleanin& relephone Statloneryi POSta8e and sundries Offlce equlpment, IT support and rental Liaison officers, lees and expen5e5 5ecretèry's salary Pension Contributions M Revenue & Customs INI) Total Payments 249.514 249.514 264,446 Net IPayment511 Receipts unrestricted funds Cash and Bank Balance5 brought forward 14821 129.479 14821 129.479 137,0401 166,519 Cash and Other Assets Carrled Foan1 128 997 128,997 129.479
The Lady Forester Trust Statement of Assets and Liabilities For the Year Ended 31 December 2023 Urrntrltted Restrkted 2023 2022 8ank and Cash Balances Investment account Current account Fixed terrn Deposit A¢¢ount 77.827 1.170 50.IXJ) 128.997 77,827 1,170 SO.¢)0 128.997 12&870 129,479 Investment assets EFG Harrls ld¥V Sarasin EFG Harris Alldov Sarasln 3.046.292 3,019,725 6.755 34 6.072.806 3.046,292 3,019.725 6,755 34 6,072,806 3,146,232 2.857.315 &132 24 ALI)9,703 Cash $ettlernent- Total assets 6,201,803 6,139.182 6.201,803 6,139,182 The accounts were approved by the Trnstees on 27.7.24. and 5i8ned on their behalf. bv.. The Rt. Hon. Catherlne, Lady Forester D Chlef Ex*¢utlve and Chalrman
The Lady Forester Trust Notes to the Financial Statement5 Trustees remuneratlon and related partytransacllons Dur5ng the year, 4 Trustees recelved any remuneratlon12022.. Nil) Durlng the year, no Trustees receivèd any beneffts in kind12022= Nil) During the year, four Trustees recelved Telmbursement of expenses totalllng £693 12022.. £NII I