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2020-12-31-accounts

Page
TRUSTEES' REPORT 1-7
AUDITOR'S
REPORT		 859
STATEMENT OF FINANCIAL ACTIVITIES 10
BALANCE SHEET
STATEMENT OF CASHFLOWS 12
NOTES TO THE FINANCIAL STATEMENTS 13-2S

Settlor Sir (William)
Kirby Laing		 Sir (William)
Kirby Laing		 - deceased - deceased 12April 2009
Date ofSettlement 14June 1972
Trustees Simon Webley
David Eric Laing
Charles Edward Burch
Frederick Terence Wyndham Wailer Lewis
The power ofappointing Trustees isvested in the existing Trustees.
Registered Address 33Bunns Lane
Mill H ill
London
NW7 2DX
Registered Charity Number 264299
Bankers Bank ofScotland
33Old Broad Street
London
BX21LB
Solicitors Linklatera
One Silk Street
London
EC2Y 8HQ
Accountants TMF Global Services (UK) Ltd
960Capability Green
Luton
Bedfordshire
LU13PE
Auditors Mercer & Hole
72 London Road
StAlbans
Hertfordshire
AL1 1NS

Achievements and Performance Additional
details of all grants		 off25,000 off25,000 off25,000 and above are provided above are provided above are provided below:
-continued
Culture
Arts &the Environment
At Bristol Science Centre
Redevelopment
of Curious City		 Science Centre, Project What lf 25,000
Birmingham
Royal Ballet
Home from Home
—last of2grants		 25,000
Museum ofScience &Industry
Creation ofSpecial Exhibitions Gallery 25,000
National Space Centre
Project Marble: More Space, Greater Impact Centre Redevelopment 100,000
National Youth Theatre ofGreat Britain
A Production
House For Young		 People - Building Redevelopment Project 1,200,000
Opera North
Music Works - Building Project 100,000
Royal Albert Hall Trust
Exterior Restoration / Covid-19 Emergency Funding 650,000
Royal Botanic Gardens
Kew
Millennium
Seed Bank Partnership		 - last of5grants 25,000
Royal Horticultural
Society
Addressing
Borriereto Accessibility		 at RHS Garden Wisley 50,000
Education
&Youth Develo
ment
Emmanuel
College, Cambridge
Emma Enables - Accessible Study Bedroom 165,000
Rock UK
Loan - Working
Capital		 200,000
Health &Medical Research
Age UK
Disconnected
Mind- Phase 4(made		 up of2grants off75000) 150,000
BRACE
Dementia
Research PhD Project (Epigeneticsj		 University ofExeter - last 3
grants 30,000
Royal Brompton
National
Heart &		 Lung Hospital
CFFuture Care 25,000
StJohn Ambulance
CO I/ID-19 Emergency Appeal 25,000
StJohns Hospice
Upgrade ofBedrooms &Bathrooms 42,330
The Stroke Association
Senior Lectureship
Programme		 -3rd of5gronts 40,000
~Reli ion
Bath Abbey Trust
Footprint Project 25,000
Bible Reading Fellowship
Covid-19 Opportunities
& Challenges		 28,500
Centre for the 5tudy ofChristianity &Culture
Explore Project - last of2grants 25,000
Coventry Cathedral
Development		 Trust
Making Spacefor Hope 2021 250,000

Total
Unrestricted Funds Unrestricted
Expendable Total Funds
Endowment Income 2020 7019
Note E E E F.
INCOME AND ENDOWMENT5
Investments 2,085,516 2,085,516 2,412,667
TOTAL INCOME 2,085,516 2,085,516 2,412,667
EXPENDITURE
Cost ofraising funds 3 119,878 119,878 131,562
Charitable
activities		 4 4,473,602 4,473,602 1,854,091
TOTAL EXPENDITURE 119,878 4,473,602 4,593,480 1,985,653
NET INCOME/(EXPENDITURE) BEFOREGAINS AND
LOSSESON INVESTMENTS (119,878) (2r388,086) (2,507,964) 427,014
Nat gains/(losses)
on investments		 10 (1,468,737) (1,468,737) 3,260,406
NET INCOME/(EXPENDITURE) AFTER GAINS AND
LOSSESON INVESTMENTS (1,588,615) (2,388,086) (3,976,701) 3,687,420
TRANSFER BETWEEN FUNDS (1,829,510) 1,829,510
NET MOVEMENT IN FUNDS (3,418,125) (558,576) (3376,701) 3,687,420
FUND BALANCES BROUGHT FORWARD 63,015,183 558,576 63,573,759 59,886,339
FUND BALANCES CARRIED FORWARD 59,597,058 59,597,058 63,573,759

2020 2019
Note E
Cash flows from operating activities:
Net cash provided
by (used in) operating		 activities 16 (4,586,825) (1,975,319)
Cash flows from investing
activities:
Investment
income		 2,085,516 2,412,667
Proceeds from sale ofinvestments 6,238,020 2,603,395
Purchase ofinvestments (2,881,360) (2,797,890)
Net cash provided
by (used in) investing		 activities 5,442,176 2,218,172
Change in cash and cash equivalents in the year 855,351 242,853
Cash and cash equivalents
atthe beginning		 ofthe year 2,493,952 2,251,099
Cash and cash equivalents
at the end		 ofthe year 3,349,303 2,493,952
Represented
by:
Cash held within the investment
portfolio		 10 403,954 618,893
Cash at bank 12 2,945,349 1,875,059
3,349,303 2,493,952

Unquoted Quoted Total
E E 6
2020
Investment income from assets in the UK 1,243,051 635,476 1,878,527
Investment income from assets outside the UK 228,594 228,594
1,243,051 864,070 2,107,121
Less: non-recoverable tax credits and foreign taxation (22,720) (22,720)
1,243,051 841,350 2,084,401
Deposit interest 1,115
2,085,516

Unquoted Quoted Total
E E E
2019
Investment income from assets in the UK 1,248,096 920,134 2,168,230
Investment income from assets outside the UK 264,549 264,549
1,248,096 1,184,683 2,432,779
Less. non-recoverable tax credits and foreign taxation (21,851) (21,851)
1,248,096 1,162,832 2,410,928
Deposit interest 1,739
2,412,667
3. COST OF RAISING FUNDS
2020 2019
E 6
Investment managers' charges 119,878 131,562
4. ANALYSIS OF CHARITABLE ACTIVITIES
Total Total
2020 2019
F.
Grant funded activity (see note 7) 4,361,113 1,737,388
Support and governance costs -charitable activities (see note 5) 77,819 81,198
-governance (see note 5) 34,670 35,505
4,473,602 1,854,091

ALLOCATION
OF OVER		 HEAD AND SUPPORT COST5
Unrestricted Funds
Expendable Total Total
Endowment Income 2020 2019
Property maintenance costs 2,564 2,564 3,213
Auditors'
remuneration		 3,480 3,480 3,660
Accountancy
services		 22,135 22,135 22,564
Office expenses 5,337 5,337 9,000
Trustee expenses 2,393
Computer
support costs		 4,662 4,662 4,149
Staff costs 73,902 73902 71312
Bank charges 409 409 260
Staff training
and travel		 expenses 152
112,489 112,489 116,703
The Foundation
received
contributio
Staff costs comprise the following:		 ns
from the aforementioned
L		 aing Family Trusts towards
the c		 ost of staff.
2020 2019
6 E
Gross salaries 174,658 158,928
Benefits in kind 6,910 10,536
Employer's
National
Insurance costs		 20,980 19,541
Employer's
pension
contributions		 30,702 28,077
Recruitment
and payroll costs		 498 5,768
233,748 222,850
Less contributions
from other Laing		 Family Trusts:
The Maurice & Hilda Laing Charitable Trust (75,222) (71,312)
The Beatrice Laing Trust (75,222) (71,312)
The IVlartin Laing Foundation (9,402) (8,914)
Total staff costs borne by Foundation 73,902 71,312

Overhead
and support		 costs were allocated betwee n
governance
and charitable
activitie		 s as detailed
below		 :
2020 Charitable
Governance Activities Total
E E
UNRESTRICTED INCOME FUND
Property
maintenance		 costs 256 2,308 2,564
Auditors'
remuneration		 3,480 3,480
Accountancy fees 22,135 22,135
Office expenses 534 4,803 5,337
Computer
support costs		 466 4,196 4,662
Staff costs 7,390 66,512 73,902
Bank charges 409 409
34,670 77,819 112,489
2019 Charitable
Governance Activities Total
E 6
UNRESTRICTED INCOME FUND
Property
maintenance		 costs 321 2,892 3,213
Auditors'
remuneration		 3,660 3,660
Accountancy
fees		 22,564 22,564
Office expenses 900 8,100 9,000
Computer
support costs		 415 3,734 4,149
Staff costs 7,131 64,181 71,312
Bank charges 260 260
Trustees expenses 239 2,154 2,393
Staff training
and travel		 costs 15 137 152
35,505 81,198 116,703

The charity
awarded		 grants grants grants to a number of institutions in furtherance of its charitable of its charitable activities which
are
summarised
as follows:
2020 2019
No E No
Children
&Youth (including		 Education) 9 410,200 113,483
Cultural
& Environmental		 32 2,334,000 31 424,355
Health &Medicine 23 561,330 13 244,000
Overseas
Aid		 7 73,000 10 89,050
Religion 24 925,583 24 726,500
Social Welfare 32,000 120,000
Charities
Aid Foundation		 25,000 25,000
4,361,113 1,742,388
Returned
grant		 (5,000)',
4,361,113 1,737,388
2020
E
CHARITIES AID FOUNDATION 25,000
Children &Youth
includin		 Education
Chance to Shine 5,000
Emmanuel
College, Cambridge		 165,000
Northamptonshire
Association		 ofYouth Clubs 5,000
Prince's Foundation
for		 Building Community 8,000
Queen Elizabeth Scholarship Trust 10,000
Radley Foundation 5,000
Rock UK 200,000
Smallpiece Trust 2,200
Tall Ships Youth Trust 10,000
410,200
Cultural
&Environmental
Aerospace
Bristol		 10,000
Art Fund 10,000
At Bristol Science Centre 25,000
Awards for Young Musicians 7,500
Baroque atthe Edge 5,000
Birmingham
Royal Ballet		 25,000
Bristol Old Vic 5,000
Buxton Festival 5,000
Chicken Shed Theatre Trust 5,000
Glyndebourne
Arts Trust		 10,000
Halle Concerts Society 7,500
Ironbridge
Gorge Museum		 Trust 10,000
London Philharmonic
Orchestra		 5,000
National
Opera Studio		 10,000
National Space Centre 100,000

GRANTS - continued 2020
E
Cultural
&Environmental		 -continued
National
Youth Theatre		 of Great Britain (3grants) 1,200,000
Nevig Holt Opera 10,000
Northamptonshire Music & Performing Arts Trust 5,000
Opera North 100,000
Polka Theatre 10,000
Royal Albert
Hall Trust		 650,000
Royal Botanic Gardens Kew 25,000
Royal Horticultural Society 50,000
Royal Northern
College		 of Music 11,000
Royal Philharmonic Orchestra 5,000
Southbank
Sinfonia		 8,000
Streetwise Opera 5,000
The Watson
Hall		 5,000
Welsh National
Opera		 10,000
2,334,000
Health & Medicine
Age UK(2 grants) 150,000
BRACE (2grants) 45,000
British Heart Foundation 7,000
Dementia
UK		 10,000
Fight for Sight 5,000
Hospice
UK		 20,000
Livability 100,000
Macular Disease Society (2grants) 20,000
Motor Neurone
Disease Association		 5,000
Northamptonshire Carers Association 10,000
Royal Brompton
National		 Heart & Lung Hospital 25,000
Royal Hospital for Neuro-Disability 7,000
Sick Children's
Trust		 5,000
StJohn Ambulance 25,000
StJohn's Hospice 42,330
St Luke's Hospice 10,000
The Griffin Institute 10,000
The Lin Berwick Trust 5,000
The RNOH Charity 20,000
The Stroke Association 40,000
561,330
Overseas
Aid
Gurkha Welfare Trust 10,000
Hamlin
Fistula
UK		 10,000
international
Nepal		 Fellowship 5,000
Lawrence Barham Memorial Trust 8,000
TBAlert 5,000
The Himalayan
Trust UK		 15,000
WaterAid 20,000
73,000

GRANTS - continue d
2019
E
~Reli ion
All Saints Church, Hove 5,000
All Saints Episcopal Church, Gretna 10,000
Bath Abbey Trust 25,000
Bible Reading Fellowship 28,500
Bible Society 5,000
Centre for the Study of Christianity &Culture (2grants) 40,000
Coventry Cathedral Development Trust 250,000
Diocese In Europe 150,000
Evangelical
Alliance		 10,000
IFESTrust 5,000
The IDrby Laing Centre for Public Theology 14,583
London Diocesan Fund 20,000
Oriel College 25,000
SAT-7Trust Ltd 100,000
St Etheldreda's
Church,		 Hatfield 5,000
St Paul's Cathedral Foundation 50,000
Stevenage
Pioneer		 Youth Trust 5,000
The Faraday Institute 20,000
Theos 25,000
University
ofGloucestershire		 30,000
York Minster
Fund		 7,500
Youthscape
(2grants)		 95,000
925,583
Social Welfare
Alexandra
Palace Charitable Trust		 10,000
Dictune Trust 15,000
Fowey Community Bus 2,000
Time to Talk Befriending 5,000
32,000
TOTAL DONATIONS TO CHARITIES 4,361,113

The Trustees
follows:		 have made
non-binding
grant co		 mmitments
of 65,000 a		 nd above payab le
in the next		 four years
2020 2021 2022 2023
6 6 6
Commitments brought forward 791,000 188,000 70,000
Commitments paid during year (706,000j
Commitments made during year 595,000 70,000 40,000
Commitments deferred (85,000( 85,000
Commitments at31December 2020 868,000 140,000 40,000

Unquoted
Quoted Investments Investme
ts		 cash held
Brewln Unit Qugter Trtrstees' In capital 2020 2019
Dolphin Trtlst cheviot ltlames Accounts Total Total
E E E E 6 6
Ma k tvalueat ti nuary2020 17,916,353 BJI66,077 9,283,066 30,424,897 61S,893 61,709,286 58,504,493
Disposal
AddrA		 pr
qulsiti		 ds tcost (1,762,462)
1,726,960		 12,834,595) (1,640,963)
1,154,400		 (6,238,020)
2,881,360		 (2,603,395)
2,797,890
Inv tm ntgaln /(I ses) (472,791) (633,482) 78,960 (443,424) (1JM8,737) 3,260,406
M v m ntin h (214,939) (214,939) (250,108)
M rketv
I eat31De		 mber2020 17,408,060 8,875A63 29,981,473 403,954 56,668,950 61,7D9,286
Hlsto I I oat at310 ember2020 12,536,033 6,103,961 13,606,760 32,246,754
Historic I ostet31D mber2019 12,337,514 2,218,101 6,571,800 13,606,760 34 534 175

Thefogowinginv Thefogowinginv t ntscomprisemor ntscomprisemor ntscomprisemor ntscomprisemor than5Nofth v lu ofthern
tm		 ntporffoEo.
Invastmant Noldlng Marhet Value
E
Esh
ulrPropert		 sltd 19267220rdinary
h		 r sofE1 16,184,464
Diversitied Prop rly Fund for Ch riti s 10,892,949 unrts 13,797,009
Unquoted
euoted Investments Investments
Erewln Unit eullter Trustees 2020 2019
Dolphm
5		 Trust
6		 cheviot
E		 Names
6		 Total
E		 Total
t'
In
stm ntassetsin		 th UK 11,429,463 3,066,007 29,981,473 44,476,943 49,743,237
In e tm ntsssetso t d th UK 5,975,597 5,809,456 11,788,053 11,347,156
Cash held within th Investment portf li s 69,516 334,438 403,954 618,893
17,477,576 9,209,901 29,981,473 56,66S,950 61,709,286

11. DEBTORS
2020 2019
Maurice & Hilda Laing Charitable Trust 18,904 19,431
Beatrice Laing Trust 18,904 19,431
Martin
Laing Foundation		 2,364 2,429
Dividends due 620 5,121
40,792 46,412
12. CASH
The cash at bank is made up as follows: 2020 2019
f f
Current account 2,916,923 1,837,434
Brewin Dolphin income account 28,426 37,625
2,945,349 1,875,059
13. LIABILITIES:AMOUNTS DUE WITHIN ONE YEAR
2020 2019
f f
Auditors 3,600 3,660
Accoun'tents 22,135 22,135
Receiver Trust 583
Investment managers 31,715 31,203
58,033 56,998
14. UNRESTRICTED FUNDS
Expendable Income
2020 Endowment AccouIIt Total
f E f
Unrestricted funds comprise the following;
Investments 56,668,950 56,668,950
Cash 2,959,823 (14,474) 2,945,349
Debtors 40,792 40,792
Creditors (31,715) (26,318) (58,033)
59,597,058 59,597,058

Expendable Income
2019 Endowment Account Total
E E E
Unrestricted funds comprise the following:
Investments 61,709,286 61,709,286
Cash 1,337,100 537,959 1,875,059
Debtors 46,412 46,412
Creditors (31,203) (25,795) (56,998)
63,015,183 558,576 63,573,759

2020 2019
E
Net movement
in		 funds (as per the Statement of Financial Activities) (3,976,701) 3,687,420
(Gains)/losses
on investments
shown		 in investing activities 1,468,737 (3,260,406)
Deduct investment income shown in investing activities (2,085,516) (2,412,667)
(Increase)/decrease in debtors 5,620 (2,512)
Increase/(decrease) in creditors 1,035 12,846
(4,586,825) (1,975,319)