##
##
|||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|
##
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##
##
|||||||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|
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||||||||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)|