LAWSON BECKMAN CHARITABLE TRUST
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
LAWSON BECKMAN CHARITABLE TRUST
INDEX TO THE TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Index | Page | Page | |
|---|---|---|---|
| Trustees' Annual Report | 1 | - | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Accounts | 7 | - | 11 |
LAWSON BECKMAN CHARITABLE TRUST
1
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and accounts for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Reference and administrative information
Charity Number: 261378.
Principal Office
2nd Floor, 25 Old Burlington Street, London W1S 3AN
Trustees
Melvin Anthony Lawson Francis Colin Katz Lynton Robert Stock
Independent Examiner
Rachel Chim of
UHY Hacker Young, Quadrant House, 4 Thomas More Square, London E1W 1YW
Bankers
Barclays Bank Plc, London Corporate Banking, 54 Lombard Street, London EC3V 9EX
Investment Managers
Barclays Bank Plc, 1 Churchill Place, Canary Wharf, London E14 5HP
Structure, Governance and Management
The trust is an unincorporated body, constituted under a trust deed dated 30 May 1970 and is a registered charity (numbered 261378). The trust was established by an initial gift from Maurice Lawson (deceased) and Alan David Beckman (deceased). The trust does not actively fundraise and maintains a careful stewardship of its existing resources.
The trust deed provides for a minimum of two trustees. The power of appointing new or additional trustees is exercisable by the trustees. The trustees meet at such intervals as they consider appropriate.
The charity has no full time or part time employees or volunteers to assist in the running of the charity; the daily administration being carried out by the trustees themselves.
Risk Management
The trustees have reviewed the major risks that impact on the work of the trust. The systems that have been established enable the trustees to review and take necessary steps to lessen these risks.
LAWSON BECKMAN CHARITABLE TRUST
2
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)
Objectives and Activities
The object of the trust is to apply the capital and income of the trust fund for the advancement of health and social welfare, education, religious activities, and other general charitable purposes as the trustees in their absolute discretion think fit. The policies adopted by the trustees in achieving these aims are to award grants to suitable organisations that are themselves charitable in nature.
Public Benefit
The trustees have complied with section 17(5) of the 2011 Charities Act, having due regard for the Charity Commission's guidance on public benefit when reviewing the trust's aims and objectives, when setting their grant making policy and in making awards.
Grant Making Policy
The trustees consider all grant applications on an individual basis and will make donations to approved applications, when funds are available.
Achievement and Performance
During the year 24 grants totalling £114,500 were awarded to charitable organisations compared with 17 grants totalling £115,700 awarded during the previous the previous year. The trustees consider that these represent an appropriate exercise of their discretionary powers.
Financial Review
The trust utilises its income to provide funds to cover grants, administration costs and to increase reserves.
Investment Policy and Performance
The trustees continue to be satisfied that their current investment portfolio provides the charity with sustainable income from which it is able to make donations to other charities and good causes and expect that their investment income will continue to grow going forward. This investment strategy accords with the Trustees' long term aim of achieving underlying income growth for the charity into the future.
Reserves Policy
The trustees' policy is to consider a part-retention of any of the charity's net incoming resources on an annual basis. The trustees consider this prudent as they wish to build on the charity's free reserves thereby enabling an increase of grant funding towards important projects in furtherance of the charity's objectives and to diversify the charity's investment portfolio. The level of free reserves at 31 March 2024 amounted to £4,789,374 (2023: £5,341,598).
Plans for the Future
The trustees have no immediate plans to modify or significantly change any of the objects, activities or policies described above.
LAWSON BECI<MAN CtIARrrABLE TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR EI¥DED 31 MARCH 2024 (contintsed} Statement of trnstees. responsibilities The trustees ar¢ responsible for preparing the Tn¢¢5, Retmlrt and the accounts in accordance with applicable law and UDit¢d Kingdom Accounting Standard5 (Uniid Kingdom Gener211y Aecepted Accounung PrdCti¢e). The law applicable to charities in England and Wales requires the trn5tees to prep8r¢ accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and the application of r¢sourGes of the charity for that year. 5n preparing these accounts, the trustees are required to: select suitsble accounting policies and then appty thern consistently: observe the methods and principles in the applicable Ch8rities SORP; make judgements and estimates that are reasonable and prudent" state whether applicable aC¢OUlliing standards have been followed. subject to any material departures disclosed and explained in the accounts" and prepare ihe accounts on the goin8 concern ba515 unless it is inappropriats to presume that the charity will continu¢ in operdtion. The tnte¢S are reswJnsibl¢ for keeping sufFici¢ni accounting records that disclose with reasonable accurdcy at any time the fmancial EK)Sition of the charity. and enable them to ensure that the accounts comply with the Chariti¢s Act 2011, the Charity (Ac¢ounts and Rewrts) Regulation5 2008 and the provisions of the trust deed. They arc also reswnsibl¢ for 5af¢guarding the assets of the cbarity and hence for takillg reasonable steps for the prevention ond detection of frdud and other irregulartties. Approved by the tnee$ and signed on their behalf by.. Melv wson- Trnstee 28 January 2025
</UHY UHY Hackeryount LLP Quadrant House 4ThornB5 More Squar• london Elw IYW LAWSON BECKMAN CHARITABI.E TRUST INDEPENDEiYT EXAMINER'S RF.PORT TO THE TRLSTEES OF LAW. BEcKlA% CHARITABI.E TRL'ST FOR THE YEAR ENDED 31 MARCH 2024 I report io the InL8iees Y examination of the aCCnts of ithwson BcckrnaD ChaTitsble Tn for the year ended 31 March 2024. whidt are sei out pag¢s 5 I l. This rewrt made 501ely 10 Ihe charitys tnisre¢& LI a FKxty. in acwrdan¢e wilh Secti 145 of the Ch¥iiies Act ?01 l. My examination ha% bccn undenakcn so thai I might 5ts1c 10 ihe ch&riry's ITUSlee% those matters l am required iu iiaie 10 them in an indep¢ndeni examinevs rerM)rt and for tm) Other purwie. To th¢ full¢&t ¢xi¢rti rwmJit¢d by law. I do #LLcpl ur ussum¢ T¢&puDsibiliiy lo anyone than the irvte$ &$ a I)y. for my examiviiw. lor this r¢[ OT for the opinioii% I have formed. Respon•lbllltle$ •nd bil¥ of report As th¢ Charity Iru%¢ees of the Trust. yiju gre re5ixxisÉbl¢ for Ihe weprnion of th¢ in g¢¢ordance with (he requirements of lh¢ Chariiies A¢1 2011 I'the A¢t'). I rep()rt ITL T¢sp¢c¢ of my examination of the TfUSiees' accounts carried oui under 145 of the 2011 A¢1 ond i Caing uui my exJtmin&iion I have follow¢iJ all The appli¢8bl¢ Dir¢¢iion% 8ivcn by thc ChaTiTy Commi55ion undcT seciion 14515llbl ol'thc 2011 Act. Ind¢p¢nd¢nt exmlner'J sitemeni I hav¢ ¢umpl¢¢¢d my cxarninBiion. l Lonfinn Ihal nu maierial matters have C my attention in conne¢iion wilh Ihe exarnin#iton givin¥ m¢ idu lo b¢li¢vr thal in any mai¢ri81 res1¢1.. 111 artountin¥ records were keN in respect of T%1 8$ required bysethion 130 of Ihe Aei. or 121 Ihe aLLoullL8 iio a¢¢ofd with ih05¢ r&. 131 lh¢ a¢cLnIS do fiot Comply wilh the applicable requirements concernin8 ihe fonn and coni¢ni of 4ccounis sei out in the Charitie% IAecounts and R¢txmsl RegulatiS 21M)8 oih¢r qUirtmen¢ Ihai the accounts give a'true fairf vicw which 15 a maller C¢sidered as part of an independeni examinaiion. I hBve no ¢¢m¢erns and hgve ¢ome no rther m&tters in connection wilh Ihe exarnifiEtiL to which attention should be draw in Ihis report in order to enable ¥ prvptt un(kr51aThding of the arcounts lo be Teard. Raehel C him UHY Hackcr Youn8 LLP Quadranl 4 Thoma5 Mtsr¢ Squa London Elw IYW 2cLr
LAWSON BECKMAN CHARITABLE TRUST
5
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
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2024 2023
Unrestricted Unrestricted
funds funds
Note £ £
Income and Endowments from:
Investment income 3 179,400 125,666
Donations 2 62,647 -
Total income 242,047 125,666
Expenditure on:
Raising funds (Investment management fees) (5,425) (5,966)
Charitable activities 4 (119,017) (119,999)
Total expenditure (124,442) (125,965)
Net income / (expenditure) before
gains and losses on investments 117,605 (299)
Net (losses)/gains on investments 9 (669,829) 367,474
Net movement in funds (552,224) 367,175
Reconciliation of funds
Total funds brought forward 5,341,598 4,974,423
Total funds carried forward £4,789,374 £5,341,598
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LAWSON BECKMAN CHARrrABLE TRUST BALANCE SHEET AS AT 31 MARCH 2024 21124 2023 Note Fixed assets Investtnents 3.861.101 4,285.303 Current Assets Cash at bank 10 947.771 1.060,579 947.771 1,060.579 Current liabilities Crediiors falling due within one year I I (19,498) (4,284) Nel current ets 928.273 1,056.295 Nel ets £4.789,374 £5.341.598 The funds ofthe charity Unr¢stricted funds £4.789.374 £5,341,598 Approved by the trustees and si8n¢d on their hr by- Melvi nt ony Lawson- Truslee 28 January 2025 Date
LAWSON BECKMAN CHARITABLE TRUST
7
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
a) Basis of preparation
These accounts have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
b) Funds structure
All funds are unrestricted. Both the capital and income of the charity can therefore be applied at the discretion of the trustees in the furtherance of the objects of the trust.
c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
d) Expenditure recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
e) Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
f) Charitable activities
The expenditure on charitable activities includes grants made and governance costs.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These include costs related to independent examination and legal fees.
g) Investments
Investments are stated at market value as at the balance sheet date. In the case of unquoted investments, their market value is estimated by the trustees.
h) Gains and losses on investments
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
LAWSON BECKMAN CHARITABLE TRUST
8
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)
2 Related party transactions and trustees' remuneration
M A Lawson is a director of Bantent Limited, a private company in which the charity holds shares. The charity received unconoditional donations of £62,647 (2023: £nil.) from Bantent Limited during the year.
No trustee or any person connected with a trustee has received or is due to receive any remuneration for the year directly or indirectly from the charity's funds.
No trustee has been reimbursed for expenses during the year.
| 3 Investment income Dividends - Listed investments Interest on cash deposits 4 Expenditure on charitable activities Grants awarded (ref. note 5) Governance costs (ref. note 6) |
2024 £ 156,701 22,699 £179,400 2024 £ 114,500 4,517 £119,017 |
2023 £ 122,303 3,363 £125,666 2023 £ 115,700 4,299 £119,999 |
|---|---|---|
5 Analysis of grants
The charity undertook no direct charitable activities but awarded grants to a number of institutions in furtherance of its charitable activities.
The provisions of the Charities Act 2011 section 132(4) have been applied to the analysis of grants under this note heading.
| Health and Social Welfare Education Religious Activities Conservation & Animal Welfare General Charitable Purposes Total |
2024 £ 52,500 31,500 29,500 1,000 - £114,500 |
2023 £ 46,000 37,000 20,200 - 12,500 £115,700 |
|---|---|---|
LAWSON BECKMAN CHARITABLE TRUST
10
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued)
| 6 Governance costs Accountancy fees Bank charges |
2024 £ 4,498 19 £4,517 |
2023 £ 4,248 51 £4,299 |
|---|---|---|
7 Staff costs
No staff were employed during the year by the charity, the daily administration of the charity being carried out by the trustees.
8 Accountancy fees
The remuneration constituted an independent examination fee of £857 (2023 £816) and accountancy and other work of £3,641 (2023 £3,468).
| 9 Analysis of fixed assets Quoted Investments Market value at 31 March 2023 Additions to investments at cost Unrealised (loss) / gain on revaluation of investments Market value at 31 March 2024 |
2024 £ 4,135,303 245,627 (594,336) £3,786,594 |
2023 £ 3,687,428 80,401 367,474 £4,135,303 |
|---|---|---|
The book cost of quoted investments as at 31 March 2024 was £1,607,046 (2023: £1,361,419).
| Unquoted Investments Estimated market value brought forward Unrealised (loss) / gain on revaluation of investments Estimated market value at 31 March 2024 * |
2024 £ 150,000 (75,493) £74,507 |
2023 £ 150,000 367,474 £150,000 |
|---|---|---|
The book cost of unquoted investments as at 31 March 2024 was £15,033 (2023: £15,033).
- Unquoted investments represent 33 ordinary £1 shares in Bantent Limited (UK company reg. 00653686). The value of the shares held in Bantent Limited is recorded at estimated market value in these financial statements.
The investment in Bantent Limited represents a one-third stake in that company. This holding has not been accounted for as an associated undertaking.
LAWSON BECKMAN CHARITABLE TRUST
11
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024 (continued)
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10 Analysis of current assets 2024 2023
£ £
Cash at bank
Barclays Bank 385,155 420,555
Barclays Wealth 559,785 403,695
WH Ireland 2,831 236,329
Total current assets £947,771 £1,060,579
11 Analysis of liabilities 2024 2023
£ £
Creditors falling due within one year
Conditional donations on account 15,000 -
Accountancy fees 3,641 3,468
Independent examination fees 857 816
Total £19,498 £4,284
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