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2024-04-05-accounts

Charity no. 275372

THE LEIGH TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

THE LEIGH TRUST

CONTENTS

Legal and administrative information 1
Trustees' report 2 - 3
Independent examiners' report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7-19

THE LEIGH TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number 275372
Date of trust 29 March 1976
Trustees The Hon. D. S. Bernstein
Caroline Moorehead
Mr Jonathon Bond
Registered office 9 Bonhill Street
London
EC2A 4DJ
Bankers Hoare & Co
37 Fleet Street
London
E4CP 4DQ
Solicitors Charles Russell Speechlys
6 New Square
London
EC4A 3LX
Auditors Begbies Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
Investment managers Julius Baer International Ltd
1 St Martin's Le Grand
London
EC1A 1HQ

Page 1

THE LEIGH TRUST

ANNUAL REPORT FOR THE TRUSTEES

FOR THE YEAR ENDED 5TH APRIL 2024

The trustees present their report and accounts for the year ended 5th April 2024.

Structure, governance and management

The trust was created by a deed dated 29 March 1976 as a trust exclusively for charitable purposes, 'charitable' meaning charitable according to English law. The trust was registered with the Charity Commission on 7 April 1978 (charity registration no. 275372). Trustees are appointed in accordance with the deed.

Risk management

The trustees minimise investment risk through the use of professional investment advisors and the maintenance of a diverse portfolio. General operating risk is minimised through the regular review of the trust's activities and procedures.

Objectives and activities

The trustees review the trust's areas of interest on a regular basis. Currently the trust provides support to organisations working in the field of drug and alcohol rehabilitation, criminal justice, asylum seekers and youth at risk.

Organisations applying for grants must provide their most recent audited accounts, a registered charity number and most importantly: a cash flow statement for the next twelve months. Similarly all organisations to whom conditional commitments have been made must submit their annual report and accounts each year until these commitments have been fulfilled. The policy of the trustees is to support those organisations which they believe to be in greatest need. The trustees can only respond favourably to very few applicants.

Achievements and performance

121 grants were made during the year and these are listed in note 12.

Financial review and reserves policy

Investment income for the year increased to £73k (2023: £70k), while the market value of the investments held by the trust decreased from £2,883k to £2,805k due to sales of investments exceeding new purchases. Profits on sale and revaluation of £186k were credited to the Statement of Financial Activities (2023 losses: £149k). The investment profits are consistent with the overall performance of the market. The trustees are satisfied with the current investment policy and confirm that sufficient reserves are available for future grants.

Page 2

THE LEIGH TRUST ANNUAL REPORT FOR THE TRUSTEES FOR THE YEAR ENDED 5Th APRIL 2024 Statement of trustees. responslbllltles Law applicable to charities In England and Wale5 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the trust's financial activities during the year and of it'5 financial position at the end of the year. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentlyp rnake judgements and estirnates that are reasonable and prudent,. state whether applicable accounting standard5 and starements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements., PTepare the financial statements on the going concern basis unless it is inappropriate to assume that the trust will continue In operation. The trustees are responsible for keeping accour5ting records which disclose with reasonable auuracy at any time the financial position of the rrust and enable them to ensure that the financlal statements comply with the Charitie5 Act 2011. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable step5 lor the prevention and detection of fraud and other The trustees confirm that they have Complied with their duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The report was approved by the trustees on..... ehalf by and signed on their The Hon O. ernstein P¥e3

THE LEIGH TRUST

ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024

INDEPENDENT EXAMINER REPORT

I report on the accounts of The Leigh Trust for the year ended 5th April 2024, which are set out on pages 5 to 16.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Brooker FCA Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ

Signed 20th January 2025

Page 4

THE LEIGH TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5TH APRIL 2024

Notes Unrestricted Unrestricted Unrestricted Unrestricted
Fund Fund
2024 2023
£ £
Income from:
Investments 3 73,171 69,442
Interest 198 126
Total Income 73,369 69,568
Expenditure on:
Raising funds
Investment manager's fees 17,315 18,386
Charitable activities
Grants payable 4 328,000 355,526
Other expenditure
Audit and accountancy fees 6,900 6,480
Miscellaneous expenses 704 695
Currency exchange (gains)/ losses 345 (18,990)
Total expenditure 353,264 362,097
Gains / (losses) on investments 187,899 (149,291)
Net income/ expenditure (91,996) (441,820)
Total funds brought forwards 2,889,977 3,331,795
Total funds carried forwards 2,797,981 2,889,977

All amounts derive from continuing activities.

All gains and losses recognised in the year are included in the Statement of Financial Activities.

Page 5

THE LEIGH TRUST BALANCE SHEET AS AT 5TH APRIL 2024 2024 2023 Note5 Fixed Assets Investments Cash held lor investment purposes 2,804,863 12,8491 2,802,014 2,882,797 25,806 2,908,604 Current assets Cash at bank 16,288 11,691 Current liabilitie5 9 120.3201 120.3201 Net current assets 14,0321 1,371 Non current liabilitie5 io iio.0001 Net assets 1797.981 2.899.975 Funds Unrestricted funds 2,797,981 2,889,975 he financial statements were approved by the trustee5 On..... The Hon. D. S. Bern Twstee Page 6

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

1. Accounting policies

1.1 Accounting convention

The accounts have been prepared in accordance with applicable accounting standards under the historical cost convention, modified to include the revaluation of listed investments to fair value. In preparing the accounts the charity has followed best practice as set out in the Accounting and Reporting by Charities: Statement of Recommended Practice Applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard for applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis as the trustees believe the charity's substantial reserves means that no material uncertainties exist regarding the charity's ability to continue as a going concern.

The financial statements are prepared in sterling and rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS 102.

Cash Flow

The Fund qualifies as a small charity under the terms of the Charities Act 2011. As a consequence, it is exempt from the requirement to publish a cash flow statement.

1.2

Income

Income from listed investments is accounted for by reference to the date on which distributions are receivable. Interest is accounted for on an accruals basis.

1.3

Expenditure

Expenditure is accounted for on an accruals basis. Grants are accounted for when the trustees have agreed to pay the grant without condition or any conditions attached to the grant are not in control of the trustees.

1.4

Investments

Investments are included in the accounts at market value at the end of the financial year less a provision for any permanent diminution in value. Realised and unrealised gains and losses are credited or debited to the statement of financial activities in the year in which they arise.

1.5 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the SOFA.

Page 7

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

1.6 Financial instruments

Aside from the accounting policy in respect of listed investments (see 1.4 above), the only financial instruments typically held by the charity are cash at bank or other basic financial instruments such as debtors and creditors receivable or payable in less than one year, which are carried at transaction price subject to provision for impairment.

2 Taxation
The trust is a registered charity under the Charities Act 2011 and is not subject to taxation.
3 Investment income 2024 2023
Equities 73,171 69,442
Interest 198 126
73,369 69,568
4 Grants Payable
2024 2023
Number £ Number £
Drug and Alcohol Rehab 14 55,000 13 55,000
Asylum Seekers & Refugees 22 51,500 23 50,000
Criminal Justice / Youth at risk 69 167,500 70 155,626
Other 16 59,000 15 94,400
121 333,000 121 355,026

Details of grants paid to institutions are listed in note 13.

5 Trustees' remuneration

No trustee received any remuneration or was reimbursed any expenditure in respect of his or her duties during the year (2023 - nil).

Page 8

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

6 Investments

Market value at 6th April 2023
Additions at cost
Disposals at carrying value
Net gain/(loss) on revaluation at 5th April 2024
Market value at 5th April 2024
Historic cost at 5th April 2024
2024
£
2,882,798
754,953
(978,315)
145,427
2,804,863
2,560,124
2023
£
3,068,508
712,996
(798,894)
(99,812)
2,882,798
2,788,216

All of the above investments are listed investments carried at fair value and held on a recognised stock exchange. The composition of listed investments is as follows

Cash and short term investments
Bonds and similar positions
Equities and similar positions
Other alternative
2024
£
202,916
942,627
1,596,287
63,033
2,804,863
2023
£
101,474
920,689
1,615,199
245,435
2,882,798

The following investments represented more than 5% of the portfolio at market value at 5th April 2023 or 5th April 2024

Ishares GBP Corp Bond UCITS ETF
Blackrock STERLING Liquidity
2024
£
152,695
202,916
355,611
2023
£
158,082
158,082

Page 9

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

7 Gains / (losses) on investments

7 Gains / (losses) on investments
2024 2023
£ £ £ £
Disposal proceeds 1,020,787 749,415
Original purchase cost 984,888 702,248
Unrealised gain/(losses) to date (6,573) 96,646
(978,315) (798,894)
Realised gains/(losses) for year 42,472 (49,479)
Unrealised gains/(losses) for year 145,427 (99,812)
187,899 (149,291)
8 Reconciliation in movements in unrealised gains / (losses)
2024 2023
£ £
Unrealised gains at 6th April 2023 94,582 291,041
Unrealised (gains)/losses crystallised on disposals 6,573 (96,646)
Net gains on revaluation at 5th April 2024 145,427 (99,812)
246,582 94,583
9 Creditors: amounts falling due within one year
2024 2023
£ £
Committed grants 10,000 10,000
Accrued accountancy and audit 10,320 10,320
20,320 20,320
10 Creditors: amounts falling due after one year
2024 2023
£ £
Committed grants 0 10,000
0 10,000
11 Grant Commitments
2024 2023
£ £
At 6th April 2023 20,000 -
Charged to SOFA in year 30,000
Grants paid in year (10,000) (10,000)
At 5th April 2024 10,000 20,000
Page 10

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

12 Related party transactions

During the year the trustees made grants totalling £4,000 (2023: £4,000) to the Helen Bamber Foundation. Caroline Moorehead is a trustee of this charity. During the year the trustees made a grant of £0 (2023: £12,000) to La Nuova Musica. The Hon David Bernstein is a trustee of this charity.

Page 11

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

13 Grants agreed during the year Charity no 2024 2023
£ £ £ £
Drug and Alcoholic Rehab
Adapt 1182087 5,000 -
Expectations UK 1152491 - 2,000
Faithwork Wessex 1108714 3,000 2,000
Fortalice Ltd 1124031 - 5,000
Hebron Trust 1020095 5,000 5,000
Hope + Vision Communities 1191323 5,000 15,000
Nehemiah Project 1058536 3,000 3,000
New Note Orchestra (Project) 1161284 2,500 2,500
Outside Edge Theatre 1080948 5,000 -
Pathways For All People 1146161 3,000 -
Spitalfields Crypt Trust 1075947 - 5,000
Steps To Active Recovery 1191725 - 2,000
Surrey Drug and Alcohol Care 1151494 2,000 2,000
The Amber Foundation 1051388 5,000 5,000
The Icarus Trust 1148228 - 2,500
The Keys Project 1154263 4,000 3,000
The Living Room 1080634 2,500 -
The Nelson Trust 1056672 - 2,500
Tower Hamlets Mission 1154842 5,000 5,000
Treasures Foundation 1131292 5,000 -
55,000 55,000

Page 12

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

13 Grants agreed during the year (cont.) Charity no 2024 2023
£ £ £ £
Asylum Seekers & Refugees
Abigail Housing 1120729 1,500 -
Asylum Welcome 1056672 4,000 2,500
Bristol Refugee Rights 1126646 1,500 -
Boaz Trust 1110344 3,000 1,500
Cardinal Hume Centre 1090836 2,000 2,000
Charis Refugees 1169400 - 2,500
Children and Families Across Borders 1085541 2,000 -
Doctors of the World 1067406 2,000 2,000
English For Action London 1133268 2,000 -
Entraide UK 1142919 - 1,500
Growing Well 1182018 - 1,500
Hackney Migrant Centre 1122363 - 2,500
Haringey Migrant Support Centre 1152227 - 1,000
Hear Me Out Music 1119049 3,000 -
Helen Bamber Foundation 1149652 4,000 4,000
Home Start UK 1108837 2,500 2,000
Islington Centre for Refugees & Migrants 1135205 2,000 2,000
Migrants Organise 1077116 3,000 -
Migrateful 1180110 - 2,000
Plymouth Music Zone 1100878 2,000 2,000
Rainbow Haven 1131060 - 2,000
Rainbow Migration 1158228 3,000 -
Refugee & Migrant Centre 1104779 2,000 -
Refugee Support Devon 1143884 - 1,500
Refugee Survival Trust SC024328 - 4,000
Refugee Youth LTD 1094296 - 1,500
Seperated Child Foundation 1120669 2,000 2,000
South Sudanese East Bank Community
Association 1086644 - 1,500
St Mungo's 1149085 3,000 4,000
START 1108113 2,500

Page 13

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2023

13 Grants agreed during the year (cont.) Charity no 2024 2023
£ £ £ £
Asylum Seekers & Refugees (continued)
Streatham Drop in Centre 1156824 - 2,000
The Haven Wolverhampton 1065427 1,500 3,000
The Mustard Tree 1135192 2,500 -
Together Now 1183639 - 2,500
Upbeat Communities 1162856 1,500 -
Waterloo Comm Counselling 1045444 1,000 1,500
Welcome Churches 1177344 1,500 -
Young Roots 1139685 2,000 -
51,500 50,500

Page 14

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

13 Grants agreed during the year Charity no 2024 2023
£ £ £ £
Criminal justice / Young offenders and Youth at Risk
2MakeIT 1157740 2,500
A Spark In the Dark 1199465 1,000
All Saints Youth Projects 1136158 1,500 1,500
Alternatives to Violence Project Britain 1085709 1,193
Aspire Oxfordshire 1117726 2,000
Bang Edutainment 1086541 2,000
Barnabus Manchester 1174410 2,000
Bede House Association 303199 2,500 -
Bentley Beginnings 1081484 1,500 1,250
Bethany Christian Trust 1171231 5,000 3,000
Boys and Girls Clubs 1157690 1,000
Bristol Children's Help Society 1092921 1,500
Carney's Community 1150650 3,500
CHESS Homeless 1093901 1,000 1,500
Chapter 2 1177011 2,000
Children Ahead 1138140 2,000 3,000
Clement James Centre 1009253 2,000
Clapton Common Boys 802717 2,000 1,000
Communigrow 1159534 1,000 1,000
Coventry Boys and Girls Club 1062220 2,000
Create Arts LTD 1099733 3,500 -
Criminon UK 1098120 4,250
Cruse Bereavement Support 208078 2,000 -
Curiosity Collective SC043974 1,000 1,000
Dean & Cauvin Young People’s Trust SC013890 1,000
Depaul 802384 2,000
Ditch The Label 1156329 1,250
Eastside Community Trust 1081691 1,500 1,000
Eating Matters 1003974 1,500 1,000
Emerge UK 1152146 1,000
Ezer Leyoldos Limited 1132971 1,000 -
FACET CIO 1195254 2,000
Families Outside SC025366 2,000 2,000

Page 15

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

14 Grants agreed during the year (cont.) Charity no 2024 2023
£ £ £ £
Criminal justice / Young offenders and Youth at Risk (continued)
Fet-Lor Youth Club SC013866 1,000 -
Fife Young Carers SC047519 1,000 1,000
Finding Rhythms 1151872 1,500 -
Framlingham Area Youth Action 1200241 1,000 -
Partnership
Get Set Girls 1089566 1,500 -
Give a Book 1149664 5,000 15,000
Grove Adventure Playground 1124802 - 1,250
Halow Birmingham 1150445 - 1,250
Healthy Livings Project 1087256 2,000 1,500
Home Link Family Support SC001360 1,000 1,000
Hope, Housing, Training 1133284 - 1,000
& Support -
Hope For The Young 1127017 5,000 2,500
Hull and East Yorkshire Children's 1124329 2,000 -
University
Kairos Women Working Together 1136695 - 3,000
Key4Life 1152426 - 4,000
Kids N Action 1096182 - 3,500
Kids Space 1175338 - 3,000
Kingswood Trust 1147599 - 2,498
Kits UK (Kids in the Spotlight) 1181577 - 1,250
Kol Boniach 1147599 - 1,500
Lending Hope 1179132 - 3,000
Life Cycle UK 1077575 - 2,000
Life Education Wessex and Thames Valley 1071094 2,000 1,000
Light Up Learning SC045701 1,000 1,000
Live Unlimited 1176418 - 2,500
Lung Productions CIO 1187346 2,250 -
Margaret Carey Foundation 1136858 2,000 2,000
Maths On Toast 1151486 2,000 -

Page 16

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

14 Grants agreed during the year (cont.) Charity no 2024 2023
£ £ £ £
Criminal justice / Young offenders and Youth at Risk (continued)
MYCOS SC028306 1,000 -
NACOA 1009143 0 2,500
Narthex Sparkhill 1100358 2,000 1,500
The No Way Trust 1049059 - 2,000
Oarsome Chance 1167787 2,500 2,500
Oasis Project 1065503 - 2,435
One Small Thing 1180782 7,500 -
Open Door Exmouth 1094599 1,500 -
Ormiston Families 1015716 3,000 -
Pallion Action Group 1064481 1,000 -
Police Community Club of GB 1079612 - 1,000
Prevent 2 Protect 1188884 1,000 -
Prison Advice and Care Trust 219278 3,000 3,000
Prison Choir Project 1174202 - 8,000
Prison Fellowship 1102254 - 2,500
Prison Radio Association 1114760 5,000 -
Prisoners Abroad 1093710 5,000 8,000
Prisoners Advice Service 1054495 2,000 2,000
Prisoners Education Trust 1084718 - 3,000
Prodigal Arts 1169287 1,500 -
RAW Workshop 1014416 2,000 1,000
Regenerate 1191234 - 2,000
Resolve Now 1189333 3,000 -
Resolve West 1000641 - 1,000
Safe Families 1150405 1,500 -
Seeds4Success 1193737 5,000 -
Shannon Trust 1117249 5,000 -

Page 17

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

14 Grants agreed during the year (cont.) Charity no 2024 2023
£ £ £ £
Criminal justice / Young offenders and Youth at Risk (continued)
Shift Youth + Community 1183910 - 1,000
Special Educational Needs Families 1055954 - 3,400
Support Group
St Edmunds Society 1157532 1,000 -
St Giles Trust 801355 2,500 -
St Luke's Cares 1097720 - 2,000
Step One Charity 235434 3,000 -
Standout Programme 1177813 5,000 2,500
Success Club CIO 1180864 2,500 2,000
Sudden Productions 1018887 2,500 1,000
Sunbeams London LTD 1158753 1,500 1,500
Sunrise Partnership SC044859 - 1,000
Tall Ships Youth Trust 314229 3,000 3,000
Teen Enterprise 1148955 - 1,500
The Forgiveness Project 1103922 5,000 -
The New Bridge Foundation 1103511 2,750 2,500
The Upper Room 1004354 3,000 3,000
The Wheels Project 1081236 2,500 -
The House On the Corner Community 1107670 1,000 -
Project Limited
Total Insight Theatre 1184076 1,000 -
Venture Trust 285891 2,500 2,500
Volunteering Matters 291222 2,000 2,000
Wellspring Counselling 1042995 1,000 1,000
Women's Health Matters 1048788 1,000 1,000
Wycombe Youth Action 287035 1,000 1,000
Yes Outdoors 1144916 1,000 -
Young People Taking Action 1102645 1,000 -
Youth on the Move 1171778 1,000 -
167,500 169,526

Page 18

THE LEIGH TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024

14 Grants agreed during the year Charity no 2024 2023
£ £ £ £
Other
Arts At The Old Fire Station 1140525 3,000 3,000
Centre for Social Justice 10,000 10,000
Disasters Emergency Committee 1062638 - 10,000
Foundling Museum 1071167 5,000 -
Glyndebourne 243877 - 10,000
IT Schools Africa (ITSA Digital Trust) 1146157 2,000 2,000
La Nuova Musica 1144998 - 12,000
Matthew Barley Arts Foundation 1202012 4,000 -
Medical Aid for Palestinians 1045315 30,000 17,500
Paines Plough Limited 267523 5,000 -
Zambian Gems Foundation 1136811 - 5,000
59,000 69,500
333,000 344,526

Page 19