2021-12-31-accounts - The Kirby Laing Foundation

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		Page
TRUSTEES' REPORT		1-7
AUDITOR'S REPORT		8&9
STATEMENT OF FINANCIAL	ACTIVITIES	10
BALANCE SHEET
STATEMENT OF CASHFLOWS		12
NOTES TO THE FINANCIAL	STATEMENTS	13-25

The Trustees present	The Trustees present	The Trustees present	their financial statements and annual	their financial statements and annual	their financial statements and annual	report forthe	report forthe	report forthe	year	ended 31December 2021. The financial statements	ended 31December 2021. The financial statements	ended 31December 2021. The financial statements	ended 31December 2021. The financial statements	ended 31December 2021. The financial statements
have been	prepared		in accordance with	the accounting	policies set out in				note	1to	the accounts and comply with the charity's trust
deed dated	14June		1972,the Charities	Act 2011and Accounting			and	Reporting		by	Charities:	Statement	ofRecommended	Practice
(FRS102)and update			Bulletins 1and 2.
Settlor				Sir (William) Kirby Laing -			deceased 12			April	20D9
Date ofSettlement				14June 1972
Trustees				Simon Webley
				David Eric Laing
				Charles Edward	Burch
				Frederick Terence Wyndham				Wailer Lewis
				The power ofappointing Trustees					is vested		in the existing Trustees.
Registered	Address			33Bunns Lane
				Mig Hig
				London
				NW7 2DX
Registered	Charity	Number		264299
Bankers				Bank ofScotland
				33 Old Broad Street
				l.ondon
				BX21LB
Solicitors				Linklaters
				One Silk Street
				London
				EC2YBHCL
Accountants				TMF Global Services		(UK)	Ltd
				960Capability	Green
				Luton
				Bedfordshire
				LU1 3PE
Auditors				Mercer & Hole
				72 London Road
				StAlbans
				Hertfordshire
				AL1 1NS

All grants ofE5,000 and above are listed by category	note 7 to the accounts;	note 7 to the accounts;	note 7 to the accounts;	note 7 to the accounts;	note 7 to the accounts;	a further five
grants ofbetween E500and 63,000, totalling 612,625, were distributed			through			the Charities
Aid Foundation. Taken together the Trustees are confident that the grants demonstrate a high
degree of public benefit to a number'of different sections ofsaciety, including					vulnerable and
disadvantaged people whatever their age, background,	ability	or additional		needs. Additional
details of ag grants of625,000 and above are provided	below:
						6
Children &Youth
Cranfield University
Nationol Flying Laboratory Centre -FitOutof New Plane						25,000
Princes Trust
Get Into Health Care Programme (1stof3grants)						50,000
Silverstone Heritage Ltd
New Models ofEngagement for Learning for Schools Local to Silverstone						25,000
The Duke of Edinburgh's Award
Inspiring Futures/Living I.egacy Fund						100,000
Northamptonshire Association ofYouth Clubs
Diamond Jubilee Anniversary Appeal						50,000
Cultural &Environmental
English Heritage
Farness Abbey Development Project						78,000
National Youth Theatre ofGreat Britain
A production House for Young people —Building Redevelopment		project	(last
instalment of4)						400,000
Art Fund
Respond & Reimagine Grants Programme						50,000
Birmingham Royal Ballet
Refurbishment of The Nutcracker production						25,000
Health &ggedicine
The Stroke Association
Senior Lectureship Programme (4th of5grants)						40,000
Cicely Saunders International
Endowment ofa Chair In Palliative Care						1,750,000
Restoration ofAppearance and Function Trust
Breast Reconstruction project (3rd of4 grants/						50,000
Age UK
Disconnected Mind Clinical Research Phase 4(last of3grants)						75,000
Overseas Aid
The Leprosy Mission
FOUND Project, Nepal(lstyearof 3)						236,802
EMMS International
Sunita Project ('Every Girl Matters' ), Nepal						50,000


~Reli ion
University ofGloucestershire
Postgraduate Scholarships (4th of5grants)							30,000
SAT-7 Trust Ltd
Women's Programming (4th of5grants)							100,000
StAlbans Cathedral Trust
Cathedral Precinct- landscaping							150,000
Oriel College
Centre for the Study ofthe Biblein the	Humanities						25,000
Urban Saints
Planting ofGroupsin North London							50,000
Exeter Cathedral
Chapter House Project							105,000
Langham Partnership
Development ofwarehouse /office complex		in Carlisle					25,000
Igrby Laing Centre for Public Theology	in Cambridge
Director sSalary							65,000
Soaal Welfare
project Equinox
Ileterons and Medical Students Accommodation			Project				45,000
Miscellaneous
The Reculver Trust
Office Refurbishment							40,000
In addition to grant expenditure, a further 6128,688was spent				on investment		manager's fees
and f121,734 on support and governance		costs. Income generated			from the Foundation's
investments remained stable atf2,099,751.Despite the excess gain off9016813on the value ofthe Foundation's investments				ofexpenditure over income, a led to an increase in the value
ofthe Foundation's expendable endowment		ofover f6.8million		(11.514).

						Total
			Unrestricted	Funds		Unrestricted
			Expendable		Total	Funds
			Endowment	Income	2021	2020
		Note	6	6	F.	E
INCOME AND ENDOWMENTS
Investments				2,099,751	2,099,751	2,085,516
TOTAL INCOME				2,099,751	2,099,751	2,085,516
EXPENDITURE
cost of raising funds		3	128,688		128,688	119,878
Charitable activities		4		4,286,736	4,286,736	4,473,602
TOTAL EXPENDITURE			128,688	4,286,736	4,415,424	4,593,480
NET INCOME/(EXPENDITURE)	BEFORE GAINS AND
LOSSESON INVESTMENTS			(128,688)	(2,186,985)	(2,315,673)	(2,507,964)
Net gains/(losses) on investments		10	9,145,501		9,145,501	(1,468,737)
NET INCOME/(EXPENDITURE)	AFTER GAINS AND
LOSSES ON INVESTMENTS			9,016,813	(2,186,985)	6,829,828	(3,976,701)
TRANSFER BETWEEN FUNDS			(2,186,985)	2,186,985
NET MOVEMENT IN FUNDS			6,829,828		6,829,828	(3,976,701)
FUND BALANCES BROUGHT FORWARD			59,597,058		59,597,058	63,573,759
FUND BALANCES CARRIED FORWARD			66,426,886		66,426,886	59,597,058

				2021	2020
			Note
FIXED ASSETS
Investments			10	64,608,861	56,668,950
				64,608,861	56,668,950
CURRENT ASSETS
Debtors			11	48,696	40,792
Cash at bank			12	1,829,743	2,945,349
				1,878,439	2,986,141
LIABILITIES:amounts		falling due within one year	13	(60,414)	(58,033)
NET CURRENT ASSETS				1,818,025	2,928,108
TOTAL ASSETS LESS		CURRENT LIABILITIES		66,426,886	59,597,058
Representing:
UNRESTRICTED FUNDS			14	66,426,886	59,597,058
Registered Charity	No: 264299
Approved by the Trustees on:
...Q.fa./C3..e.!2.2.......
Date
and i n d on their	behalf by:
Trustee

							2021	2020
						Note	6
Cash flows from operating	activities:
Net cash provided by (used in) operating					activities	16	(4,420,947)	(4,586,825)
Cash flows from investing	activities:
Investment income							2,099,751	2,085,516
Proceeds from sale ofinvestments							4,923,180	6,238,020
Purchase ofinvestments							(3,764,130)	(2,881,360)
Net cash provided by (used in) investing				activities			3,258,801	5,442,176
Change in cash and cash equivalents			ln the year				(1,162,146)	855,351
Cash and cash equivalents	at the	beginning			ofthe year		3,349,303	2,493,952
Cash and cash equivalents	at the	end	of	the year			2,187,157	3,349,303
Represented by:
Cash held within the investment		portfolio				10	357,414	403,954
Cash at bank						12	1,829,743	2,945,349
							2,187,157	3,349,303

			Unquoted	Quoted	Total
				6	6
2021
Investment	income from assets in the UK		1,298,890	590,360	1,889,250
Investment	income from assets outside the UK			232,631	232,631
			1,298,890	822,991	2,121,881
Less: non-recoverable		tax credits and foreign taxation		(22,130)	(22,130)
			1,298,890	800,861	2,099,751
Deposit interest
					2,099,751

			Unquoted	Quoted	Total
			E	E	E
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

							2021	2020
							6	6
nvestment	managers'		charges				128,688	119,878
NALYSIS	OF	CHARITABLE		ACTIVITIES
							Total	Total
							2021	2020
							E
Grant funded		activity	(see note 7)				4,165,002	4,361,113
Support	and	governance		costs	-charitable	activities (see note 5)	85,949	77,819
					-governance	(see note 5)	35,785	34,670
							4,286,736	4,473,602

ALLOCATION OF O	VER	HEAD AND SUPPO	RT COSTS
			Unrestricted	Funds
			Expendable		Total	Total
			Endowment	income	2021	2020
			E	E	E	E
Property maintenance		costs		4,902	4,902	2,564
Auditors' remuneration				3,660	3,660	3,480
Accountancy services				22,135	22,135	22,135
Office expenses				5,000	5,000	5,337
Trustee/meeting	expenses			564	564
Computer support	costs			2,275	2,275	4,662
Staff costs				82,694	82,694	73,902
Bank charges				504	504	409
				121,734	121,734	112,489

Staff costs comprise the follow	ing:
			2021	2020
			f.	E
Gross salaries			188,335	174,658
Benefits in kind			13,060	6,910
Employer's National insurance	costs		22,935	20,980
Employer's pension contributions			30,452	30,702
Recruitment and payroll costs			708	498
			255,490	233,748
Less contributions from other	Laing	Family Trusts:
The Maurice fk Hilda l.aing Charitable		Trust	(81,316)	(75,222)
The Beatrice Laing Trust			(81,316)	(75,222)
The Martin Laing Foundation			(10,164)	(9,402)
Totalstaff costs borne by Foundation			82,694	73,902

2021				Charitable
			Governance	Activities	Total
UNRESTRICTED INCOME FUND
Property maintenance		costs	490	4,412	4,902
Auditors' remuneration			3,660		3,660
Accountancy fees			22,135		22,135
Office expenses			500	4,500	5,000
Trustee/Meeting	expenses			564	564
Computer support	costs		227	2,048	2,275
Staff costs			8,269	74,425	82,694
Bank charges			504		504
			35,785	85,949	121,734
2020				Charitable
			Governance	Activities	Total
					6
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

The charity awarded g summarised as follows:	rants to a n	umber of inst	itutions in	furtheran	ce of its char	itable a	ctivities	which are
				2021			2020
			No		E	No		E
Children, Education &Youth Development			8		275,700			410,200
Culture, Environment &	the Arts		21		734,000	32		2,334,000
Health & Medical Welfare			18		2,057,000	23		561,330
Overseas Development	Projects				341,802			73,000
Religion			16		631,500	24		925,583
Social Welfare					85,000			32,000
Miscellaneous					40,000
Charities Aid Foundation								25,000
					4,165,002			4,361,113
								2021
								E
Children Education &Youth Develo		ment
Cranfield University								25,000
International Students House								10,500
Northamptonshire Association ofYouth Clubs								50,000
Prince's Foundation for	Building Community							8,000
Princes Trust								50,000
Silverstone Heritage Ltd								25,000
Tall Ships Youth Trust								7,200
The Duke of Edinburgh's	Award							100,000
								275,700
Culture Environment &the Arts
Art Fund								50,000
Birmingham Royal Ballet								25,000
Boston Festival								5,000
Creative Oundle								10,000
Dorset Opera								5,000
English Heritage								78,000
Garsington Opera								5,000
Glyndebourne Arts Trust								5,000
Ironbridge Gorge Museum Trust								10,000
National Portrait Gallery								20,000
National Youth Jazz Orchestra								20,000
National Youth Theatre	ofGreat Britain							400,000
Plymouth Marine Laboratory								20,000
Royal Academy ofArts								10,000
Royal Academy of Dramatic Art								5,000

GRANTS - continued							2021
							E
Culture Environment	&the Arts - continued
Royal College of Music							18,000
Southbank Sinfonia							8,000
StAlbans International		Organ		Festival			10,000
The Common Room							10,000
The Leeds International		Pianoforte			Competition		10,000
Welsh National Opera							10,000
							734,000
Health &Medical Welfare
Age UK							75,000
Arts 4 Dementia							5,000
Association of British Neurologists							10,000
Basingstoke t Alton Cardiac			Rehabilitation			Charity	5,000
BRACE							15,000
British Heart Foundation							10,000
Cicely Saunders International							1,750,000
Coress							5,000
Cure Parkinson's Trust							20,000
Dementia UK							20,000
Fight for Sight							5,000
Muscular Dystrophy UK							5,000
Restoration ofAppearance			and Function			Trust	50,000
Royal Hospital for Neuro-Disability							7,000
The Griffin institute							10,000
The National Society for Epilepsy							20,000
The Research Institute	for the			Care ofOlder People			5,000
The Stroke Association							40,000
							2,057,000
Overseas Develo ment		Pro acts
Dhaka Ahsania Mission		UK					10,000
EMMS International							50,000
Gurkha Welfare Trust							10,000
IMPACT Foundation							15,000
International Nepal Fellowship							5,000
Renewable World							10,000
The Leprosy Mission							236,802
World Vision UK							5,000
							341,802

GRANTS - continued
					2021
					6
~Reli ion
Bradford Cathedral					5,000
Centre forthe Study	of Christianity		&	Culture	20,000
Evangelical Alliance					10,000
Evangelical Seminary	of	Southern	Africa		9,000
Exeter Cathedral					105,000
Kirby Laing Centre for Public Theology				in Cambridge	65,000
Langham Partnership					25,000
Oriel College					25,000
SAT-7 Trust Ltd					100,000
StAlbans Cathedral	Trust				150,000
St Etheldreda's Church,		Hatfield			5,000
Stevenage Pioneer Youth Trust					7,500
The Church ofthe Good		Shepherd,	Tadworth		5,000
The Faraday Institute					20,000
University ofGloucestershire					30,000
Urban Saints					50,000
					631,500
Social Welfare
Dictune Trust (2)					30,000
Project Equinox					45,000
SoundCafe Leicester					5,000
Time to Talk Befriending					5,000
					85,000
Miscellaneous
The Reculver Trust					40,000
					40,000
TOTAL DONATIONS	TO	CHARITIES			4,165,002

The Trustees follows:	have made non-binding grant co	mmitments off5,000 a	nd above paya	ble in the next	four years
		2021	2022	2023	2024
		E	E	6	6
Commitments	brought forward	868,000	140,000	40,000
Commitments	paid during year	(798,000)
Commitments	made during year		596,260	259,590	5,000
Commitments	deferred	(70,000)	70,000
Commitments	at 31December 2021		806,260	299,590	5,000

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11.	DEBTORS
					2021	2020
	Maurice S.Hilda	Laing Charitable		Trust	19,941	18,904
	Beatrice Laing Trust				19,941	18,904
	Martin Laing Foundation				2,493	2,364
	Tax recoverable				1,476
	Dividends due				4,845	620
					48,696	40,792
12.	CASH
	The cash at bank	is made up as follows:			2021	2020
					E	E
	Current account				1,798,401	2,916,923
	Brewin Dolphin income		account		31,342	28,426
					1,829,743	2,945,349
13.	LIABILITIES:AMOUNTS		DUE WITHIN ONE YEAR
					2021	2020
					6	E
	Auditors				3,660	3,600
	Accountants				22,135	22,135
	pension contribution				2,538
	Reculver Trust					583
	Investment managers				32,081	31,715
					60,414	58,033

					Expendable	Income
2021					Endowment	Account	Total
					E	6	E
Unrestricted	funds	comprise	the	following:
Investments					64,608,861		64,608,861
Cash					1,850,106	(20,363)	1,829,743
Debtors						48,696	48,696
Creditors					(32,081)	(28,333)	(60,414)
					66,426,886		66,426,886

					Expendable	Income
2020					Endowment	Account	Total
					E	E	E
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

							2021	2020
							6	E
Net movement in	funds (as per the	Statement		of	Financial	Activities)	6,829,828	(3,976,701)
(Gains)/losses on	investments shown		in investing		activities		(9,145,501)	1,468,737
Deduct investment	income shown	in	investing	activities			(2,099,751)	(2,085,516)
(Increase)/decrease	in debtors						(7,904)	5,620
Increase/(decrease)	in creditors						2,381	1,035
							(4,420,947)	(4,586,825)