Christopher Laing Foundation A Registered Charity Report and Financial Statements 5 April 2022
Christopher Laing Foundation - A Registered Charity CONTENTS Pag• THUSfEES' REPORT AUDtroR'S REPQRT STATEMENT OF FINANCIALACTIVITIE5 BAiANCESHEET srATEMENT OF CASHFLOWS io NOTES TOTHE FINANCIALSTATEMENTS 11-18
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 April 2022 The Trustees present thelr financial statements ?nd ann1 report for the ypar ered 5 Aprll 2022. The financial Statements have been prepared In acct)rdants wlth th¢ acwunting poll¢ies Set out in note I to the affounts and comply with the charilvs trust deed dated 9 July 1979. the Charitles Act 2011 and Accounting and Reportlng by Charities.. Statement ol Recommended Practlce IFRS 1021 and update Bulletln5 1 and 2. Releren¢e and Adminstratk>n Oetailsotthe Charfty. ItsTrustee$ 8Thd Advkers. Settlor hristopher Maurire LalnR Date of De 9 July 1979 Trustees Chrlstopher Maurlce Lalng Diana Chri5tin3 Laing John Ernest Keeble Mlchael Richard Warwick Laing Richard Walter Minton Haine5 Carfa Lois Patricla Seale RegL%tered Address c/0 TMF Global sevvic IUKI Ltd 960 Capability Green Lutan Bedlord5hlre LLII 3PE Registered Charity Number 278460 Website ain oun ion.com Banktts C Hoare & Co 37 Fleetstreet London EC4P 4DQ Accountants TMF Global Services IUKI Ltd 960 Capability Green Luton 8edtordshlre LUI 3PE AlltOrS Mercer & Hole LLP 72 London Road 5tAlban5 Hertfordshirp ALI IN5 Investment Advisors JMFlnn&Co 25 Copthall Avenue London EC2R STA Vermeer Partner5 130 Jemiyn Street Lot)don SWIY 4UR
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 April 2022 De5tinationof Funds Incorne To charitable purp05e5 only. (The Trustees had the power to accumulate until g July 21)JO when the èccumulation period ended). To be retained by the Trtsstee5 or, at thÈir discretiarb. applied as for Fncorne. Expendable Endowment Inve5tmert Power5 UnTestrfctEd, Structure, fy)vefnance & Mznagement The Foundatlon is constituted under a trust deed dated 9 July 1979 and isa rew5tered charity, number 2784GO. The Trust wa5 established by a gift from th& Sewor, Christopher Maurire Laing. The Trustte5 are appolnted bythe 5ettlordurlng hls Iwetime. The InduGUoTh process for any newly appointed Trusiee comprises an inftial meetlng with Christopher Lalng and hi5 co-Tru5tees to COVÈT investment policy. the grant maklng process and the powers and responslbilitiesoFtheTru5tee board. AfterapwintmenL newTrustees will be provided wlth copie5 of arcounts, annual retums 4nd Investment reports. TMF Glokl Services IUKI Ltd Is responsible for the adminlsttstion and accountingfunctlons of the Fayndation and actsascorrespoDdent for appllcations for giants. Applicatlons received by TMF are the first instance sent to Christopher and Diana Laing for conslderation and if approprSate, they are ton5idered by all Trustees. thrge donations are gènerally considered and approvpd it Trust¢e5' wneetings Bre held bi-annually. Small donations are consIded as aTrd when they arise. The Foundation does not actlvely fundraise and seeks te continue to support charitsble projerts from careful stewardship ol its Investment portfolio. The Tru5tee5 h4ve examlned the major strateg[£ and operatiDnal ri5 that thp Foundatlon lare5 and confirm that appropriate measures are In p14ce to protect the Foundation from them as far as possible. At the Trurtees, meetill8S. the Tru5teps agree thei¥ objectives ar aieas of artivity for the Foundation. irycludlng consideration Df grant maklng, investrftent, resee$ Hnd rtsk man4gement policies and performance. Oblectwes and Activlties The Fourtdztion derive5 Ils incomefrom Investments. It istheTru5tees' inve5trnent polity to attept inve5tmenl 4dvlce Irom fund managers under a dlsrretionary arranBemeTrt in order to athieve a ieasenable balante between capital growth and income yield. The investrnertt managers have bÈen InstrLKted not to rfirectly Invest in gambllng or tobacce stor. A large number of requests for donaonS are reoived and unfortunatdy omty a small proportio# of these requests can be fulfilled.
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 Aprll 2022 Grant Making Policy The Trust DÈÈd stat25 that tht Trt funds are to be used e¥dusively for charltable purposes at the T¥ustee5' discretion. The Foundation therefore makes donations to a wide and varied number of charitle5. The TTUStees' priority ya$ of giving arefocussed on Plertfordshire and OxfordshirÈand cover.. Recorb5tructlon ol comrnunltles following the Cowd-19 pandemlc Youth & Education Homelessness Environmental and con5ervalion work The Truste m8ke regular payments to a number of tharltable Drganisations who are invlted to applyon an annual basi5. Achievements, Public Benefrt and Performance During the ye3rto 5 April 2022, the Foundation made donatSon5 lolalling £324,25012021 £620.OWI. This Include5 £44.000 deposited with the Charities Aid Founthtion 12021 £60.OLX)l. The Trustep5 conflrrn that they have referred to the guldance contained in the Charity Commlssion's genÈral guidance on public benefitwhen settlng th@Ir grant rnakinE poliry for the year. in line wlth the chaiity's alms and objettive5. The Trustees are satlsfied that all Erants Tnade duringthe year are for the beneflt of the public and that the benefft of each and every grant is clearly identifiable. A list of grants tan be seen In note 7 to the accounts. Major donatlon5 nde during the year were: Duke of Edlnburth'$Aw8rd £52,750 The Trustees continue tD provide core support to thi5 charity. which provides young people with life Clnlg OPPOrtunlties. Brftlsh Red Cr05S £50.Q The Trustees agreed to Make a one-off sperial donation to this charity with a rostrictlon to use thè fvnds only in relat)n to the Ukrainiarb Humanitsrian crtsis. Flelds In frust £40000 The Trustees continu¢ to provide Cofe 5UPPOrt to this charity. whlch protectS8reen spate5 natbnwide, whichwereso importifjtduringthe Covrd pandemir.
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 April 2022 Finandal Review The Finat)tial Statements have been prepared in ac¢ordance with the accounting pDliclÈ$ Set out Dn pages 11 and 12 and CDmply with the Charity's Trust Deed and applicable law. Incoming restyJrces for the year from investments and £3sh tDtalled £454.50812021 £394.6771. There were ¥aouS acqulsitions and disposals of investments during the year. The net gain on revaluatlon and disposa15 of investment assets amounted tD É1,503.52712021 giin £1,724.4551. The markEt value of investments at 5 April 2022 was £13,330,075 12021 £12.155.8621. As stated in the Trotes to the accounts. the Coronavirus ICovid-191 pandemic has impacted the charity.The Trustees have considered the flnanci31 health of thech2rityand thÈTrustees believe that the charity, èt the date of signlng, will continue as a goin8 eoncern for the foreseeèble future. At 5 Aprll 2022 ieserves of £107,076 werÈ cathed fo*ward in accordance with the Trustees, PDlicy on reserves. whlch is te e¥pend Income to the fullest imount each year with any reserves to be used In the following year. Plan5 for F¢rture Perlods The Trustees are satlsfied wlth their Brant rnaklng prloritlÈs and It Is their Interbtion to cgntinue to support a wide and varied number of charities in accordance with thelr prioritSes.
Christopher Laing Foundatior) - A Registered Charity TRUSTEES, REPORT at 5 April 2022 Stat•ngrtolthÈTntees' re5pon51bllltlesln respettgltheflnandal st414ments The Trustees are reSnSIb for preparln8the Report of the Trustees and the financlal statements in accordarbce apleaNe law and UTrited KIOM GeneraJtyACPted Accounting Practlee. The law appficable to£harlties in Enland and Wale5, the Charities AL1 2011. CharltylActount5and Report51 Regulations 2(X)8 a the provis5 of the Trust Déed require5 the Truaeèsto prepare ftnandal statetnenis for oath Ilnarncial year whlch wve è trw and fail eW of the state of affai¥s of the charity and of the inconn£ resour5 and appll¢arion of SOVe$, Ineludlngthe inwrne and expÈndJrure, of the charityforthat perlod. In preparing¢h05efinantialsratetnents. the Tru5teesare requiredto: select suitable accountkn8 politres and then apY1heM conslstently, observe the methodsand prlnciples In thE CharkIeSRP.' makeludgemÈn15 and estimate5 that are rea50nabl2 and prlent,. state Wheth applicable accouftting standards have been lollowed subieLt to any material departures d&cknsed and eXn in the fina(la1 5tatement$,' prepare the financial srateTnent5 on the 8oing concwn basis Ure$S tt15 inapwopriate to presume that the Foundation wl11 contlnue in operation. TnJstee5 are responsiblE for keeplrng proper actountlng recefds th3t disdDse with reasonable accuracy at anytirne the fininci81 p051tion of the Foundation and enable theTn to ensure that the n•ntial 5tatemenÉs comply whh the arfitie5Act 2011, the Iharlty IAcEounts and Repornsl Regvlations 2Lk18 and the pTovisions of the trv5t deed. They are also responsible for safe8uardingihe a55etsof the Foundation ahd hence fortskingrea50nablÈ steps forthe prevenibn and detection offraudondother irregularities. Approved bytheTrustÈeson.' /?.)CThC. 22 and 51gned on their behèjf by.. Trustee
INDEPENDENT AUDITOR'S REPORT tothe TrLlSteesof the Chrfstophèr Lalng Foundation-A Reglstered Ctharfty Opink¢n We have audited the financial statement5 of Chrlstopher Laing Fouwdation Ithe'charft¢l for the year ended 5 April 2022 which cornprisestatementol FinanclalAttivities.the Balancesheetand notestothefinancial statements. includingsignlfitantaccounting policies. The financial reporting framework that has been applied In their preparatlon is opplicable law and United Klngdom Attountlng Stsndartls, including Financial Reportin8 Stsndard 102 The Finonciol Reporting 5ttsndard applicoble It) the UK and Republlcof IreknndlUnltÈd Kingdom GenerallyA(cepted Attounting Pratticel. In our oplniDnthe financial slatèrnerts: give a true and fairview of thp 5t2te olthe charibt5 affairs as at 5 April 2022, and of Its incomln8 resources and applitation of resources. includlng its income and expenditure, for the ye2rthen ended,. have been properly prepared in accordance with UNted Xfngdom Generally Accepted Accounting Practlce.. and havè been prepared in aordanCe wrth the requirements of the CharrLl¢sAct 2011. 8aslsfor oplnion We conducted our audit in accordance with International Standards on Auditlng IUKI I1 IUKII and applicable law. Our re5ponsibllltiè5vnderth¢sestandardsarefvrtherde5cribed inthÈAuditerfs respon5ibilitiesforthe auditofthefinancial Statements sectiefi of our report. WE are independent of the charily In accordance wlth the ethical requiremÈntsthat are relevant to our audit uf the financièl 5tdternent5 In the UK. including the FRCS Ethical Standard, and we have fulfilled our otheT ethical respDnsibilities in accordante with these requirernents. We belleve that the atsdFt evidence we hive obtained Is sufficleni and apprapriate to provide a basis forour opinlon. Conclu$k+Jk% relatln8 togolngconcem In auditing the finaniial statements, we have concluded thit the trustee use of the golng concern b2sis of accountSng in the preparation of the financial stEtements is appropriate. Based on the wgrk we have performed, we ve nDt identified afiy rnaterial uncertaintle5 relatln8 to events or condition5 thaL IndldU*11vorCol1?(tIVeIy. may 5t $18nlfieant doubt on the tharity's 8billty tv continue as a 8Ding concern for a period of at least twefve monthsfrgm when the financlal statemenrs are 3Uthorised for Issue. Our reSpObIlItieS and thE respDnsibilMies of the trustees wlth respectto going concern are described in the rElent sections of thls rÈpt)rL Othei Intoimatlot) Thp Other inform?tion comprises thè information included in the trustees annual report, other than the financial statemÈnt5 3nd our auditols report ihereon. The trustees are responsible for the other Inforrnation contained within the annual report. Our oplnion on the fin3nri41 statements doe5 not cover the other information and, except to the extent otherwiSE eypficr(Iy stated in our report. we do not express anyform of assurance conclusion therèon. Our responslbility 15 to read the other infomiatiDn and, in doing so. ronslder whether the other inform4tion is materially inconsistent with the linantlal stitements or ovr knowled8e obtained in the course of the audit or otherwlst appears to be materially rnis5tated. If wp identify suth rTraterlal incon51stencie5 or appaient rnaterial misstatements. we are required to dÈterminewhetherthisEivesrise to a materlal mF55tatement inthe financial staiement5therrselves. If, based onthe workwe have perlormed. we conclude thatthere is a material misstatement of this other information, we are required to report that fÈct. We have nothingto report in th1$ regard. Matters on whlch we are requlred to report byexception We have nothin8 to reportln rÈspertofthe followingmatters in rel8tionto which the Chariti IAccountsand Reports) Regulations 2LXI8 require us to reportta you If. In ouroplnlon.. the Infomiation given In the fi'na131 ststèments is Incon515tent In any mater[41 re5PeCt th the trustee5' report- or the charity has nor kept adpquate accounting records,. or the financiol ststement5 ?re not in a8reement with the a¢countln8 records and returns.. or we have received all the Inforrnation and explanatlons we requlre for our audrt. Responslbilhie5 of trustse5 As Èxplained more fully in the trusteèg responsibilitie5 Statement Iset out on page 51, thÈ trustees are iesponsible for the preparatlon of the financi21 statements and fDr being satisfied ihol they give a true and f3iTview, and for such Inrernal corttrol as the trustees determine is necessary to enable th8 preparatlon of financial staterDents that are free from material mi55tatement. whether due to fr4ud orerror. In preparingthe financial statements. thetru5tee5 are respDnslble forassesslng the charitws abllityto continue a5 a going contrm. dlsclosin& as applicable, mattcrs rel?ted to gcin8 conrem and uslng the golng concern tKSi5 of accounting unless the trustee5 e¢therlntend to liquldate the charity orte cease operations. or have no reallstlc alternative but to do so.
Auditor The charivs auditor. Mercei & Hole, incorporated l Ortobev 2022 to become Mercer & Hole LLP. The trustee5 have consented tTrtreatin8the incorporatlon of Mercer & Hole ILP a5 a continuation of the exlsiing audit arrangement. AUdvrf$ respDnsibllftles for the audltof the hnancialstatemÈnts WÈ have been 3ppolntÈd as auditor undersettion 144of the Charltle5 Act 2011 and report In actordante wlth regulation5 made under sertion 154 of ttrt Act. r objettwes are to obtain reE50nable assurance about whether the fin8nclal statements as a whole are flee from material mfssiatement, whether dvE to fraud or error, and ta Issue an auditor's rÈport that includes our opinion. Re350nable assurance 15 a high levpl of assurance but is not a gu3rantee that 8n audit conducted in aOrdanCe wlth ISAS IUKI will always detect a material rnlsststement when itexlsts. Mlsstatement5 can arise fraud or errorand ar2 considered m4terfal If, indfvldually or in the aggreg2te, they could reasonably be expected to influence thE economic decisions of users taken on the basfs of these rinonclal statements. 1rregulèrIes. includin8 fraud, a Instancesef nDn<ompliance wkh laws and regul4tions. We design procedures in ne with our respon51bilities, outllned abtsve, tDdetectmatpri31 misststements in respect of IrreBulariknEs. includinefraud.The exteTrttowhich our procedures are capable of detecttng irre8ularitie5, including fraud. is detailed below. Explan?tlon as towhatextent the audlt wa5 ¢onslderd capable of detectlnK iThegularltle5, indudlngfraud We galned an understandinÈ of thÈ legal and regulatory framework applicable to the chartty and thÈ environment in which it operltes ond considered the risk of £cts bythe charitythat weie contr8ry to appllcable laws and regulatlons. including fraud. We elUated managernent's Incentwes and opportunities for fraudulent manipulatlon of the financial statements and the ftnanrial report lincludins the risk of overrlde of controls). ?nd detcrmined that the principal risks weTe related to Posting inappropriate entrfes includinglournals to overstate revenue or under5tste expenditure and mana¢ement blas In accountlng estlmatP5. Audil prOdureS perforrned bythe enKagemeTht team included.. discus5ion5Wlth managemEnl. includingconsideratlons of known QTsuspected instances of non- compliancewith lawsand regulations and fraud,. Bainine Jn under5tsnding ol management's controls de&gned to prevent Ind detert irregularities,. and identifying and te5tin8journal entries. Because of the inherent limitatlon5 of an &udlL there 15 3 rlskthat we will not delect 311 irre8ul3rities. Intluding those leadingtri 2 material mltstatement In the financial statements or non-tornplianie with regulation. Thi5 rfsk increèse5 the rnorÈ that compliante with a kw or regulatian is removèd from thp events and tran5actionsrÈflected in the financlal ststements. aswe wlll be less likelyto become awa of in5tancÈs of non-tompliance. The risk is 3150 greater regardlng irrÈ8ularities occurring due to fraud rather than error, as fraud invulves intentional concealmert, forgery. colluslon, omlssion or misrepresentatlon. A further description of our rèsponsibllStles is av811able on the Fi¢51[ Reportln8 Countll's web51te it: www.frc.or Our-wor Audi udit-andassurance St ndards-4nd- uidanc 5tandards-a auditors Avditors-res uldènre-for- Descrl tion-af-auditors-res ourauditorfs report. . Thls descrlption forms partof Use of our weport Thls report Is made solelyto the charit¢s trustees, as a body. in accordan with Part 4 of the Charities (Accounts and Repottsl Regulations 2008. Our audlt wfjrk has beert undertaken 50 that we mlght state to the charty's trustees those rnattprs we are required to ststE to them In an audltorfs report and for no other purpose. To the fullest extent permitted by law, we do not atcept or assume respDn5ibility to anyone other than the charity and the charit*s trustees a5 a bodyi foreur audlt work, forthis report or fgrthe opinionswe have formed. stevè Robinson, Statutory Audftor erter & Hole LLP Charterèd kcounrar Dote.. 5 January 2023 Mercer& Hole LLPisellgible to tirtGs an ouditorin tem7sof sertion 1212 of the CoMpuniesAtt26.
Christopher Laing Foundation - A Registered Charity STATEMENTOF FINANCIALACTIVITIES for the year ended 5 Aprll 2022 Total UnrestArtod Expendabl¢ Endowmerrt Total Funds 2022 2021 Note INCOME AND ENDOWMENTS Inve*rnent5 454,508 454,508 394.677 TOTAL INCOME 454,S08 454.508 394,677 EXPENDITURE Cost of ralsin8 fund5 arftable zrtfvltks 51,419 51.419 352,432 45.782 352.432 643,257 TOTAL EXPENDITURE 51,419 352,432 344,851 689,039 NET INCOMEIIEXPENDITVREI 8EFOREGAINS AND LOSSES ON INVEsfMENTS 151,4191 102,076 50.657 1294.3621 G8ln5lllossesl on revaluattun ol Investment aets B 1,507.998 1,507,998 1,724,455 NETINCOMEIIEXPENDITUREIAFTER 6AIN5 AND LOSSESON INVESTMENfs 1,456.579 102.076 1,558,655 1.430,093 TRAN5FEA OETWEEN FUNDS NETMOVEMENT IN FUNDS 1,456,S79 102,076 I,S58.555 1.430.093 FUND BALANCES BROUG1 FORWAPD 12.073,313 12,073,313 10,643.220 FUND BALANCES CARRIED FORWARD 13,529,892 102.076 13,631.968 12,073.313 The 51atempnt of Flnancial AC&11eS includes all goins and losses retognised In the year.
Christopher Laing Foundation - A Registered Charity BALANCE SHEET a5 at 5April 2022 2022 2021 Not• AXEDASSETS Inve5rment5 13,639.733 12,174.316 13.639,733 12,174,316 CURRENT Asst De01 Cèsh at bank 1,963 121801 I2927 134.836 1107,El)11 124.764 1115.7671 LiABlilllES: amountsfallln8duewbthln one year io PIÈT CURRENT A$5ETS 27,235 8,997 Provlslon Ilibi&tles and tharges li (lioAl 17,7651 IIOLCQ31 NEfASSETS 13,631,968 12,073,313 Represèntlng.. uNRRiCfEo FUNDS Expendableendovmient 12 13.529A92 12,073,313 Undi51ribvted Intome 102,076 TOTALCIIARITYFVNDS 13.6ai,968 12.073,313 ppro*d bytheTrustees on.. D3te and sied oNtheir behalf bv.. Trustee
Christopher Laing Foundation - A Registered Charity STATEMENT OF CASHFLOWS for the year ended S April 2022 2022 2021 Note ash from operaiing artivltle5: Net cash pro¥e by lused kn) operatlnK actl¥lties 14 1490,0631 1526.7691 Cash flows from Inve5bnE act115. Investment income Ptoceeds from 5dle of Investments Purtha5eof irwestmehts 454,508 1,251,015 1917,2301 394,677 1,640,257 11,771,6031 Nei tash provhjed bylused InVem athftles 788,292 263,331 Chanze In cash and cash equlvalents in theyear C35h and cash equivalent5 at the bpginning of the year 298,230 141,255 1263.4381 404.693 Cash cash e4uiwalents at the end of the yÈ4r 439.485 141.255 Represented bv.. Cash held within the Énvestment portfolio Cash at Ixnk 309,658 129,827 18.454 122.801 439.485 141,255 Asthe trust has borrowtn85, no anatysls of net debt is included inthese flnantial ststementS. 10
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2022 ACCOUNTING POLICIES The principal accountlng polidÈs Idopted are as follows.. al Basls of prep•rion and ass55Thent of golng concern The finarKial statement5 have been prepared in 3ccordancewfth Ac(ountin8 and Reportln8 by Charit1 Statement of Recornmended Practice IFRS 102) Ind upd2te Bulletins l and 2. and thp Ch3rltie5 Act 2011 and applicaNe regulations. The fin3rKial statements have been prepared under the histerical c05t convention, modified to include the revaluation of fixed asset investments. The tharityconstitutes a public benefitentity as delined by FRS 102. The Coronavirus ICovid-191 pandernic has Impaeted the charity. The TrustÈès have considered the financia1 he31th of the charlty and the Trustee5 bellevethat the charlty, at the date of 51Enin& wlll continue as a going concern for the foreseeable luture. bl Fund Structure The expendable endowrnent rppreseThts the hjnds settled orlglnally by thÈ tor and fvnds added from the Estato of the Settlorf5 father and the Trustees are permitted to apply the enduwment a5 though it were Income. Incorne is toi be used forcharli8ble pwposes ot)ly. ¢1 Income recognftlon All intgme recognised once the charity has eThtitlement to the Income, there Is sufficient certslnty of recelpt and 50 r( is probable that the income vlill be recebved. and the amount of inwme receivable can be rneasured reliably. Interest on funds held Is included upon notification of the interest pald or payable. Dfvldends are rÈtogni5ed Dnce thp dMdeDd has been dcclared and notificat5on has bEEn recelvEd of the drvidend due. Credii is tsken In the accounts for tncome tax deducted frorn investmeni Income which has or vllll be rpc13imed from H M Revenue & Customs up to 5 Aprll 2022. Incorne from donations and legacie5 15 re£o8nised a5 Itls recewed by the Trusttes. d) Expendlture retognition Liabilities are rects8nlsed a5 expendlture as soon 35 there Is 3 lÈgal or con5truciive obligatlon tomrnitung the charity to the expenditure, it Is probable that 5eulement will be required ind the amount of the obligation can be me05ured rellablv. All expenditure is accounted for on an accruals 51S and has been classified under he4ding5 that aggregate all cost5 related to the CHtegw. Slngle or multi-ye3r srants are accounted for whÈn er(her the reclplent has 2 reasonable expectatlotb th4t they wlll receive a Erant and the Trustees have agr2ed to pay the grant wrthout condltion, or the reclplent h85 a reasonble expectation that they WIN receive a grant and any condition attached tts the gr3nt Is outside the control of the charlty. el loratIOn of 8o¥emancp and supportcosts Support costs have been allocated between charltable activlties goveranCe. Support costs relating to charit2blc actlvities have been apportioned based on the estlmated time speni by the prOfeSOnal advisers employed in the admlnlstratlort of donations. The allocation DI supportcosts is ènalysed in note 5. Govern2nce CDSts comprlse all ¢osts invoEvlnE the publlc acctsuntsbility of the chaiity and its compliance with tegulation and good practice. These costs Include costs related to the audlt of the financial statements aTh(r accountsncy chargestogether wlth an apportionrnpnt of suwort costs. fj Cort of ratsln8 funds The cost of generating lunds comprlses the investment managers, charge5.
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 Aprll 2022 ACCOLINTING POLiaES- continued ql Charkable artivltles Costs of charltable activities Include grarts made in the year ind an apportfonrnent cf governanre and support Costs a5shown in note 4. hl Flxed asset In¥e5trnents sted Investments are valued in the Balance Shpet at market value. Unlisted investment5 are included at the Tru5tee5' estimte of market value. The net yin/l10551 on revaluhtlon and dispo1 of investmènts Is shown in the Statement of Financial Acti¥Atles. il R¢ali%ed 8aln$ and losse5 All 8aill5 and los£Ès are tikeo to the Statement of Financial ACtltIeS as they arise. Re&li5ed gains and 10s5es on investment5 are lCUlated as the difference beeen sales proceeds gnd thelr opening catrying lue or their purchase value If acquir on or subsequent to the first day of the linancial yÉar. Unre4lised gains and 1055es are calculated asthe difference between the fair value at the year and their carrying value. Re81ised and Urealised investment gain5 2nd losses are comblned in the Statement of Financlal Artivlile5. 11 Forelgn exchange Transactions denominÈted In forèign currencies are recorded at the rate of exchange ruling at the date of the transartions. MgTretsry assets and liabilities denominated in foreign currencies are translated into Sterling at year-end MÈS and translation dlfference5 aretaken tothe StttÈrnent of Financial Attiwtles. kl CUr¢Y ThÈ financlal ststements are wepared In sterlln& which the fuThct(onal currency of the charity. Monetary amour¢ts In these finCIal statements are rounded to the nearest £. 11 Cash and tash equwalents Qsh at bank and cash in hand Include5cash and 5knrtterm highly liquld investfflents with a short maturityofthree months OT les5 fiom tho date of acqls1110ft or opening of the deposit or similaraccount. INCOME AND ENDOWMENTS 2022 Total 2021 Total Uisted Usted Inveslrnent k)¢om8 Investment incornefrom assets in the UK 171,064 205.4a2 90,982 112,9701 376.496 90.9B2 112,9701 328.242 78,612 112,1841 Outside the UK Less non-recoveT4Ne tsxcredlts 171.064 283.444 454,508 394,670 Deposit Interest 454.508 394.677 COST OF RAISING FUNDS 2022 2021 Investment managers, char8es 51,419 45.782 12
Christopher Laing Foundation - A Registered Charity NOTESTOTHE FINANCIALSTATEMENTS at 5 April 2022 ANALYSIS OF CHARITABLE ACTIVITIES Th¢rharltyundertakÈs itschHritab1ea£tl¥tIE5thrDUgh grant MangandaWarded grantstoa nurnbercf Instltutlons in furtherance of its charitable obJecteS. 2022 2021 Grèntfvnded 5upportcosts 329.250 5,017 18,165 620,000 4,830 18,427 charitable 4Ettvitles (note 51 governance co#s (note Gl 3S2.432 643.257 Adetslled analysls of gTrnt5 awarded during the ye4r Is given In note 7. ALLocAON OF SUPPORT cosrs support costs were allocated bptween Charable actwliies and governance as shown below.. Tot•1 All¢xated Charltablt Cost Type Athvttles Go¥Èmafi Bas15 of Appwtlonment General trustadrninlstf8tlon 12.542 5,017 7,525 TiEne of wofesslonal advisers GOVERNANC£ COSTS Expendable Endowment Totsl 1022 TDtal 2021 Incom¢ Auditors, remuveration General trust 6drnlnlstraiion Accountarjcy serrice5 Bankcharges Sundry expenses 3,180 7,525 7.055 370 3,180 7,525 7.055 370 2,940 7.245 6,792 330 35 35 1,120 18.16S 18.165 18.427 TheTrustees recewed noiemtJnÉration or expenses in re5pett of their services12021- £Nill. 13
Christopher Laing Foundation - A Registered Charity NOTESTO THE FINANCIALSTATEMENTS at 5 April 2022 ANALYSIS OF CHARITA8LE EKPENDITURE The charlty awarded 8rant5 to a number of Instvcutions In further£nte of ft5 charitsble actfvitle5 whl£h are SUtnrnaii5ed as follows,, 2022 2021 Chlld and Youth ultural and Environmental Other 69,750 62,500 163.( 135,000 40.000 385,0(NJ 60.000 13 12 Ch3rffjes Aid Foundatlon 329.150 620,QOO Details of the Instttirtions are as follows.. NSTO REGISTERED CHARITIES thlld athd Youth NSPCC 2.000 52,750 io,r 5,000 Duke of Edinburgh's Award Little Green Pi8 The Lord's Taverners 69.750 iural and Environmental Flelds in Trust (Natio1 Playing Pields Assoclationl Groundwork East 40,0(M) 12.500 62.500 Alzheimers SotlÈty British Red Cross 3.0 50,000 io.oc D8vid Laing Foundatlon Frank H4ine5 Memorfal Trust Henley Festival Trust Make a Wish Foundation Médltal Detection Dogs Natlonal EmergenclesTrust Princes Trust 5,UOO 20.C 5,000 io,wo 5.000 20.000 20,000 RAW Workshop RNU The Silver Ltne IAge UK) Je Ryder 163,C4JO TOTAL DONATIONSTO REGISTERED CHARMES CHARITIES AID FOUNDATION 44,000 TOTAL DONATIONS FOR TrIEYEAR 329,500 14
Christopher Laing Foundation - A Registered Charity NOTE5 TO THE FINANCIAL STATEMENTS at 5 April 2022 ANALYSIS OF CHARITABLE EXPENDITVRÉ-<ontlnued IES AIO FOUNDATION Balante held as at 6April 2021 Payment5 to ChatlesAId Foundation CAF Adrninistratlon Charge Ilncludin8VAn Grants paid 17.428 44,IM)) 11.9801 155,7001 Balanee 2S at 5 April 2022 3,748 A sample of grantsto institullon5 of £1OINI and over i58lven below.. Chlld nd yOh Alexander Devine (fvlldrens CancÈYTrust Btshop'55tortford YoLrth Projecr timited The Ch51tern Centre CLIC5argent Cancercarelorchlldren NSPCC121 The Pepper Foundati(2) SMn85 & Smtles Questfor Learnln i.OCM) 1,000 3.5(Kl 1,750 1,0 uttural and Environmentsl Trusts for Oxford5hirE's Environment Ltd Marine Conservatlon Medkal Research ildford Undetected Tumour Screening The Cure Parkinson's Tru5t121 Thp Institute of C8neer Re5earch121 1,0 1.000 Other Abberfield ReadlnE Soclety Ltd Acbon on Hearing L05S British Wheelchair Sports Foundation Ltd The Charfie Wallor Trust Headway-The Braln Injury hsstrci&tion Hearing Dogs for the Deaf Hosplce of St Franck18erkham5tedl Ltd Keech Hospice Macmlllan Cancer Support The Pavlor5' Company LiveryTrust Peace Hospice Care Rennie Grove H95pice Care Thames Hospice I,wo 1,000 1.000 I,ODO I,ODO I,oc 30,250 TransactlOn5 Thetru5tees made a one.off donation of £I0,0t0 the Laln8 Found4tion. a reglstered clwrity. The trustees of the David Lalng Foundatlon include the brother and slster-ln-law of Christopher L4ing. The trustees a150 made a one-ofl donation to the Frank Haines MÈrnorial Trust, a rew5tered chzrlty, of £5,WO. Rè12tlon5 of Richard Haines. a trustee of thistrust, are trustees af the Frank Ha5n* Memorlal Trust. 15
Christopher Laing Foundation - A Registered Charity NOTESTO THE FINANCIAL STATEMENTS at 5 April 2022 FIXEDASSET INVESYMENTS Uxquoted In¥e5tment$ Tru5t8es' Cash held wlthltt the quoted Investments JMFlnn verner lfivestment Total Narnes Partners Portlollo 2022 Marketvalue at 5 April 2021 Dlsposal proceeds Add.. acquisitions at cost Investment 8alnslllo55esl Movements in cash 3,596.662 3,025,186 1482,6321 230,241 213.145 5,534.014 1768,3831 686,989 575576 18,454 12.174,316 11,251,0151 917.230 1.507,998 291,204 719,277 291,204 Mzrket value at 5 April 2022 4.315,939 2,585,940 6,028,1 309.658 13.639,733 Historical tost at 5 April 2022 1,819,272 2.280.667 4,268,470 8368,409 Hlstorical cc>st at 5 Aprfl 2Q21 L819.272 2.432.185 4.161,081 8.412,538 Un4UDted Inve¥tments Cash held wlthln the Quvted knvestments JMSlh Truste¢$' Namès Verner Partngrs Investment Portfolio Total 2022 &C• Investment assets in the UK 4.315,939 2.072,434 2.547.644 3.480,552 309.658 9.245,675 Investment assets outsidethe UK 913.506 4.394,058 4,315,939 2,985,940 6.028.196 109,658 13.639,733 The J M Flnn & Co portfollo Intlude5 an Investment made In M&G Investment MEnagement Lirnited made Dn behalf of theTrustees durinB the year ended 5 ApHI 2010. on a non4lstrÈtionary ksls. The following illve5tments comprise more than 5% of the vzlue of investment portFolio- Name Haldinz Market Value Egkmuir Propertie5 Ltd Thp DweTsified Property Fundfor Charities 217,616 ordlnaryshares cf£l 13Sl.175 units £2.226,212 £2.089,727 Christopherlaing, a Trustee, 15 Chalrman of Eskmuir Propele$ Ltd. The Diverslfied Property Fund for Ctharities rnanaged by Eskmvir properti Ltd. The market value of the unquoted investments. Eskmuir Properties Ltd and The Dlversified Pr¢perty Fund for Cl?rities. have been caltulated usln8 the estimated market v4lue5 provided to th2 Trustees at 30 September 2021 of ElQ.23 per share. and at 31 March 2022 of £1.5466 per5hare, respÈttivety. 16
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 April 2022 CURRENT ASSETS 2022 2021 Dèbtors Incorne tax recoverzble 4,351 658 L963 Stamp duty 5.009 1.963 Bank balances C HoÈre & Co Brokers, Income èttounts Vermeer JM Finn 114,32S 116,698 13,293 2?09 6,103 129,827 122,801 10. LIABIUTIES: AMOUNTS FALUMG DUE wrrHIN ONE VEAR 2022 2021 Audltors 3,180 15,067 9,354 30, 50.(YJO 1940 14.337 8.490 40,000 50.000 Arcountsnts Investment managèrs Grants Uvability2nd of 2 Oxford5hire Communlty Foundatlon 3rdof 3 107,601 115,767 11. PROVISION FOR UABiunESAND CHARGES Z022 2021 Grants Oxfordshire Comrnunlty Foundation 2022 3Idof 3 uttle Green Pig 3Td of 3 Livabllity2022 2r of 3 Lni8blltty2023 3rd of 3 50,000 5,000 30.¢XN) 30,fAKI 3ri.oco 35,000 IiO,L IZ. UNRESTRICTED FUNDS Unre5trlctedfundszt 5 April 2a22 comprE5e the following.. Expendable Endov4m•nt Vndlstrfbuted Inttyme Total 2022 Total 2021 Investment5 DebtOTS Cash Creditor5 13,639.733 658 1101.1451 19.3541 13,639.733 12,174,316 1,963 122,801 1115,7671 IIiO,LUII 4,351 230,972 198.2471 135,OCM)I 129,827 IlQ7.6011 13S.0001 13.529,892 102,076 13.631,968 12,073,313 17
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2022 VOLufrrrEERS Otherth3Tr theTru5Eee5. the Foundatlon receives nD cont*ibution from VDlunteers. 14 RECONaLIATION OF NET MOVEMENTS IN PJNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2012 2021 et movement in fund5 las perthe Statement of Financl31 Actfvtties (Gains)o5$eS on invp5tments shown In investing aCtitIeS Dedutt Irsvettment income shown in investing activities IlTrcreasel/detrease in debtors Increaselldecrea5el in ueditors 1,558,655 1,43a.093 11,507,998I 11.724.455) 1454.5081 1394,6771 13,0461 11,2951 183.1661 163.565 Net cash provlded by (used inl operatfjftg activitles 1490.0631 1526.7691 18
Christopher Laing Foundation - A Registered Charity THE FOLLOWING SCHEDULES ARE FOR THE TRUSTEES, INFORMATION ONLY AND DO NOT FORM PART OF THE ANNUAL FINANCIAL STATEMENTS 19