REGISTERED CHARITY NUMBER: 274042
Report of the Trust8e$ and
Unaudlt8d Financial Statements
for the Year End¢d S April 2024
RICHARD LAWES FOUNDATION
Withers Steele Chartered Accountants
6 Oaklands Court
TIVERTON
Devon
EX16 6TG

RICHARD LAWES FOUNDATION
Contents of the Financial Statements
FOR THE YEAR ENDED S APRIL 2024
Page
Report of the Trustoes
Independenl Examlnerfs Roport
Statement of Flnanclal A¢tlvltSes
Balance Sheet
Notes to the Financial Statements
7 10 11
Dgtalled Statement of Fin•n¢lal Actlvltlgs
12

RICHARD LAWES FOUNDATION
Rèport of the Trustees
FOR THE YEAR ENDED S APRIL 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024.
The trustees have adopted the provisions of 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 IFRS 1021 (effective 1 January 2019).
OBJECTIVES ANO ACTIVITIES
Objectives and activities
The Richard Lawe5 Foundation was established in 1977.
The Trust Deed directs the Trustees lo pay or apply the whole of th8 income of the Trust Fund and gives the
Trustees the power to distribute all or part of the capital.
Trustees meet annually lo discuss and agree a di51ribulion budget. Preference is given to registered charities.
Where proposed recipients are not registered charities the Iruslees undertake a thorough examination of the
organi5alion to ensure that the purpose of the grant is properly conSide￿d lo be charitable, for publi¢ benefit,
and that there are means of ensuring, so far as reasonably practicable, that any grant made to Ihe
organisalion shall be property applied to such a chartlable purpose or repaid to the Trustees. Advice will be
sought, as necessary, from the Foundation's lawyers as to the eligibility of a beneficiary of the Foundation or
such proposed recipient.
The Trustees avoid supporting organisatDns of an overtly political nature, including those quasi-polilical
secular organisab'ons established for the promotion of a subjectNe opinion. They recommend appeals and
organisations where it is felt that donations will have a real and immediate impact. Foi the most part, grants
11 be lo smaller charitable organisalions where ongoing help can assist longer term deeision making by the
beneficiaries.
In determining its grant making programme for the year, the twslees have considered the Charity
Commission guidelines on charities and publi¢ benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charitsble grants made in the 2023f24 year amounted to £369,000 12022123.. £385,000). Charitable
grants made in the year were made to support areas such as medical research, bereavements support,
mental health, youth educakn'on, homelessness, palliab.ve care, emergency disaster relief and agricultural
research.
Investment perfonnance
In the year ended 5 April 2024 the rnarkel value of the investment portfolio held at the year end was
£8,256,147 12022123.. £8,056,349). The historic cost of the investments was £5,743,629 12022123..
£5,963.6391. Cash at bank was £237.578 at the year end12022123.' £148,070).
Page 1

RICHARD LAWES FOUNDATION
Report of the Trustees
FOR THE YEAR ENDED S APRIL 2024
FINANCIAL REVIEW
Investment policy
The Trust Deed gNes the Trustee$ the following investment powers..
- power to leave the Trust Fund in the state of investment in whi¢h il may be from time to time,.
power lo tran5PQ5e or convert any investments or propety wf(hin any investments authorised by the Trust
Oeed.,
power lo invest the Trust Fund in the names or under the control of the Trustees in or upon any investments
aulhorised by the Trust Deed with power to vary or transp05e investments for or into others of any nature
aulhorised by the Trust Deed.. and
power lo invest the Trust Fund in any mode for the lime being aulhori5ed by law or in the purchase or upon
the seeurity of such shares, stocks, securities or other investments or propety of whatever nature and in any
part of the world and whether involving the liability or not and whether producing income or not as the
Trustees shall in their dis¢relion think fit lo the intent that the Trustees shall be empowered lo invest and
transpose the investments of trust monies in the same unrestricted manner as if they We￿ beneficial owners
of such monies.
These powers supplement the general power of investment contsined in Section 3 of the Trustee Act 2000.
which enlifes the Trustees lo make any kind of investment they could rnake as if they were absolutely entitled
to the assets of the Trust Fund.
The Trust Deed confers upon the Trustees the power lo accept any freehold or leasehold propety as an
addition or a¢¢relion to the Trust Fund but otherwise does not confer any powers on the Trustee5 to invest in
freehold or leasehold propety. Power lo do so is eonferred by Section 8 of the Trustee Act 2000 (but this
section does not permit trustees lo invest in beneficial interests in the land or in land outside the United
Kingdom).
Section 4 of the Trustee Act 2000 requires trustees from time to b'me lo ￿VIeW the investments of Ihe trust
and consider whether they should be varied, having regard lo the suitability to the trust of investments of the
kind proposed or retained and of that particular investment as an investment of that kind. Trustees musl also
have regard to the need for diversification of investments of the trust, insofar as it 15 appropriate to the
Circumstances of the trust.
Investment management is handled by Brewin Dolphin, 12 Smilhfield Street, London. EC1A 980, who
operate on same Investsnent risk profile as previous years..
Reserves policy and revlew of financlal pollcle8
The Trustees have established Richard Lawes Foundation's Reserves Policy with reference to Charity
Commission guidan￿ ICC191 and accounting standards ISORP FRS 102). Cashflow is carefulty monitored
on a continuing ba$1$ to meet this objective.
The Trustees do not intend to build up reserves for unspecrfied purposes, bul rather to apply all income to
direct charitsble purposes. This intention is estsbli5hed annual￿ when the Trustees agree the budget for the
forthcoming year. If, however, the applications do not warrant grants equal to the income any unspent income
will be carried forward lo the next period.
Trustees have agreed lo ¢ontinue the modest capital draw down policy as our investment performance has
demonstrated that we can do this without losing long lemi asset value.
Page 2

RICHARD LAWES FOUNDATION
Report of the Trustees
FOR THE YEAR ENDED 5 APRIL 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT
Govemlng document
The Trust Deed dated 22 March 1977 established Richard Lawes Foundation, and the charity 1$ governed by
this Deed. The Charity is an unincorporated association.
New trustees are appointed by the current Iruslees. It would be the responsibility of Ihe senior trustee lo
induct any new trustee and explain their responsibilities and duties. New trustees are appointed by Deed and
provided with copies of the Trust instrument and past accounts and guidance booklets provided by the Chanty
Commission and ar8 encouraged to attend relevant courses.
REFERENCE AND ADMINISTRATIVE DETAILS
Registgrgd Charfty number
274042
Prlnclpal addre88
Longhayes
Lowerdown
Bovey Tracey
Devon
TQ13 9LF
Trustees
W R Lawes
DrDEPLawes
D S Northcroft
Mr5 J E Withers
Indopondent Examlner
Withers Steele Chartered Accountants
6 Oaklands Court
TIVERTON
Devon
EX16 6TG
Solicitors
Bircham Dyson Bell
50 8roaoWay
London
SW1H OBL
Investmont Managers
Brewin Dolphin
12 Smilhfield Street
London
EC1A 98D
OTHER EXPENDITURE
Indirect expenditure relating to the administration of the Trust amounted to £2,471 {2022123'. £2,220>. The
cost of generating funds was £27.69712022123.' £36,902).
161.:,.IZ t..:
Approved by order of the board of trustees on .......... ....
and signed on its behalf by..
Mrs J E Withers - Trustee
Page 3

Indgpendent ExamIne￿5 Report to the Trustees of
Richard Lawes Foundation
Independent examlnerfs report to the trustogs of Richard Lawos Foundatlon
I report lo the charity trustees on my examination of the accounts of Richard Lawes Foundation (the Trust) for
the year ended S April 2024.
Responsibilities •nd basls of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in a¢cordance with
the requ￿reMentS of the Charities Act 2011 {'the Acl'l.
I report in ￿Spect of my examination of the TTUSts accounts carried out under Section 145 of the Act and in
carrying out my examination I have followed all applicable Directions given by the Charity Commission under
Section 14515){b) of the Act.
Independent examlnerfs ststement
sin￿ your charity's gross income exceeded £250,000 your examiner musl be a member of a listed body. I
¢8n confirm that l am qualified to undertake the examination because l am a member of the Institute of
Chartered Accounlanls in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come lo my attenlion in connection
wth the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as required by Se¢lion 130 of the Act,. or
the accounts do not accord Wllh those records,. or
the accounts do not comply with the applicable requirements Goncerning the form and content of
accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a true and fair view which is not a matter considered as part of an independent
examination.
I have no concem$ and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the accounts to be
reached.
Mr P Lewis-Bending ACA
The Institute of Chartered Accountants in England and Wales
wrthers Steele Chartered Accountants
Dale..
Page 4

RICHARD LAWES FOUNDATION
Statement of Financlal Actlvltles
FOR THE YEAR ENDED 5 APRIL 2024
5.4.24
Total
funds
5.4.23
Total
fvnds
Unrestrided Endowrnent
funds
fund
Notes
INCOME AND ENDOWMENTS FROM
Investment income
268,666
268,666
243.867
EXPENDITURE ON
Raising funds
27,697
27,697
36,902
Charltable •ctlvftl¢s
Grants payable
369,000
369,000
385,000
Other
2,471
2,471
2,220
Total
399,168
399,168
424,122
Net gainslllossesl on investments
419.808
419,808
(922,4901
NET INCOMEI{EXPENDITUREI
Transfers between funds
1130.502)
220,010
419,808
{220,010)
289,306
11,102,745)
Net movement In funds
89,508
199,798
289,306
11,102,745)
RECONCILIATION OF FUNDS
Total funds brought forward
148,070
8,056,349
8,204,419
9,307.164
TOTAL FUNDS CARRIED FORWARD
237,578
8,256,147
8,493,725
8,204,419
The notes fom part of these financial statements
Page 5

RICHARD LAWES FOUNDATION
Balance Sheel
5 APRIL 2024
5.4.24
Totsl
funds
5.4.23
Total
funds
Unrestricted Endowment
funds
fund
Notes
FIXED ASSETS
Investments
8,256,147
8,256,147
8,056.349
CURRENT ASSETS
Cash at bank
237,578
237,578
148,070
NET CURRENT ASSETS
237,578
237,578
148,070
TOTAL ASSETS LESS CURRENT
LIABILITIES
237,578
8,256,147
8,493.725
8,204,419
NET ASSETS
237,578
8,256.147
8,493.725
8,204,419
FUNDS
Unreslri¢ted funds
Endowment funds
237,578
8,256,147
148,070
8,056,349
TOTAL FUNDS
8,493,725
8,204,419
The financial sl tements were approved by the Board of Trustees and authoris&J for issue on
and were signed on its behalf by..
W R Lawes- Tru$lee
The notes form part of these financial statements
Page 6

RICHARD LAWES FOUNDATION
Notès to the Financlal Statements
FOR THE YEAR ENDED 5 APRIL 2024
ACCOUNTING POLICIES
Basls of prgparlng th8 financlal statements
The financial Statements of the charity, which Is a public benefit entity under FRS 102, have been
prepared in accordance wth the Charities SORP IFRS 1021 'Accounling and Reporting by Charib'es..
Statement of Recommended Practi￿ applicable to ¢harilies preparing their accounts in a¢cordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
(effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have
been prepared under the historical cost convention, with the exception of inveslrnents which are
included al market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the Charity has enlidemenl to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilib'es are recognised as expersdilure as soon as there 15 a legal or constructNe obligation
Committing the Charity lo that expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs connot be direcuy attributed to particular headings they have been
allocated lo activib'es on a basis consislenl with the use of resources.
Grants offered subject to conditions which have not been met al the year 8nd dale a￿ noted as
¢ommilrnent but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable actNiti8S.
Fund accountlng
Unrestricted funds can be used in accordance with the charitable objectives at the discrebon of
thetruslees.
Restricted fvnds can only be used for particular restricted purposes within the objects of the Trust.
Reslridion5 arise when 5P8cified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the natu￿ and purpose of each fund is included in the notes lo the financial
statements.
INVESTMENT INCOME
5.4.24
5.4.23
Dividends
Deposit account Inte￿$1
218,337
50,329
229,668
14,199
268,666
243.867
Page 7
continued...

RICHARD LAWES FOUNDATION
Notes to tho Financial Statements - continued
FOR THE YEAR ENDED 5 APRIL 2024
RAISING FUNDS
Investment management costs
5.4.24
5.4.23
Fund managementcharges
27,697
36,902
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, ￿mUneratiOn or other benefits for the year ended 5 April 2024 nor for the year
ended 5 April 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Endowment
funds
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Investment income
243,867
243,867
EXPENDITURE ON
Raising fundg
36,902
,902
Charitablo a¢tlvltle3
Grants payable
385,000
385,000
Other
2,220
2,220
Total
424,122
424,122
Net gainsl(lossesl on investments
1922,490)
1922,4901
NET INCOMEI{EXPENDITURE)
Transfers between funds
{180,2551
79,974
1922,490) 11,102,745)
179,9741
Net movement In funds
1100,2811 (1,002,464) 11,102,745}
RECONCILIATION OF FUNDS
Total funds brought fofftrd
248,351
9,058,813
9,307,164
TOTAL FUNDS CARRIED FORWARD
148,070
8,056,349
8,204,419
Page 8
continued...

RICHARD LAWES FOUNDATION
Notgs to the Financial Ststements - contlnued
FOR THE YEAR ENDED 5 APRIL 2024
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 6 April 2023
Additions
Disposals
5,963,639
6,676,887
16,896,89n
At 5 April 2024
5.743,629
PROVISIONS
At 6 April 2023
Revaluation adjustments
(2,092,710)
1419.8081
At 5 April 2024
{2,512,5181
NEf BOOK VALUE
At 5 April 2024
8,256,147
At 5 April 2023
8,056,349
There were no investment assets OUts￿e the UK.
Cost or valuation al 5 April 2024 is represenled by..
Listed
investrnent5
Cost
5,743,629
MOVEMENT IN FUNDS
Nel
movement
in funds
Transfers
belween
funds
At
5.4.24
At 6.4.23
Unrnstrictod funds
General fund
148,070
1130,5021
220,010
237,578
Endowment funds
Expendable endowment fund
8,056,349
419,808
1220.0101
8,256,147
TOTAL FUNDS
8,204,419
289,306
8,493,725
Page 9
continued...

RICHARD LAWES FOUNDATION
Note8 to the Financial Statèments - continued
FOR THE YEAR ENDED 5 APRIL 2024
MOVEMENT IN FUNDS- ¢ontlnued
Net movement in funds, included in th8 above are as follows..
Incoming
resources
Resources
expended
Gains and Movement
losses
in funds
Unrestrlcted funds
General fund
268,666
(399,1681
1130,5021
Endowment funds
Expendable endowment fvnd
419.808
419,808
TOTAL FUNDS
268,666
{399.1681
419,808
289,306
Comparatlves for movement In fund8
N8t
movement
in funds
Transfers
betsveen
funds
At
5.4.23
At 6.4.22
Unrestrlcted funds
General fund
248,351
1180,2551
79,974
148,070
Endowmentfunds
Expendable endowment fund
9,058,813
1922,4901
179,9741
8.056,349
TOTAL FUNDS
9,307,164
{1,102,7451
8,204,419
Comparative nel movement in funds, included in the above are as follows..
Resources
expended
Incoming
resources
Gains and
1055es
Movement
in funds
Unrestrlcted funds
General fund
243,867
1424,1221
1180,2551
Endowment funds
Expendable endowment fund
1922,4901
1922,4901
TOTAL FUNDS
243,867
1424,1221
1922,4901 11,102,745)
Page 10
continued...

RICHARD LAWES FOUNDATION
Notes to the Financial Statemonts - continued
FOR THE YEAR ENDED 5 APRIL 2024
MOVEMENT IN FUNDS- contlnued
A current year 12 months and prior year 12 months combined position is as follows..
Net
movement
in funds
Transfers
be￿een
funds
At
5.4.24
At6.4.22
Unrestricted lund8
General fund
248,351
1310,757)
299.984
237,578
Endowment funds
Expendable endowment fund
9,058,813
1502.682)
{299,9841
8,256,147
TOTAL FUNDS
9.3L17.164
1813,4391
8.493,725
A current year 12 months and prior year 12 months combined net movement in fvnds. included in the
above are as folbws..
Incoming
resources
Resources
expended
Gains and Movement
losses
in funds
UnrestTl¢ted lunds
General fund
512,533
1823.290)
1310.757}
Endowment funds
Expendable endowment fund
1502,682)
(502,6821
TOTAL FUNDS
512,533
1823,2901
1502,682)
1813,4391
RELATED PARTY DISCLOSURES
The accountants lo the charity are Withers Steele Limited. William Wrthers. the falher-in4aw to one of
the Trustees Mrs Janel Withers, is a dire¢tor of Withers Steele Limited. Fees of £2.380 were paid to
the firm for accountancy services.
Page 11

RICHARD LAWES FOUNDATION
Detslled Statement of Financial Activltle6
FOR THE YEAR ENDED 5 APRIL 2024
5.4.24
5.4.23
INCOME AND ENDOWMENTS
Inve$tment income
Dividends
Deposit account Inte￿$t
218,337
50,329
229.668
14,199
268,666
243,867
Total incoming r¢$ources
268,666
243,867
EXPENDITURE
Investment management costs
Fund management charges
27,697
36,902
Charltable activities
Grants lo ins1itulion5
369.000
385,000
Support costs
Financo
Bank charges
91
60
Govemance costs
Accountancy and legal fees
2,380
2,160
Total iesources expended
399,168
424,122
Nel expenditure ￿fOre gains and losses
(130,502)
(180,255)
Reallsed fecognised gains and losses
Realised gains on investments
1,948,393
1,833,680
Ngt income
1,817,891
1,653,425
This page does not forn part of the slalutory financial statements
Page 12