Christopher Laing Foundation - A Registered Charity Report and Financial Statements 5 April 2024
Christopher Laing Foundation A Registered Charity CONTENTS Page TRUSTEES, REPORT AUDITOR'S REPORT STATEMENT OF FINANCIAL ACTIVITrES ALANCE SHEET STATEMÉNf OF CA5HFLOWS io NOTESTO THE FINANCIAL STATEME5 11-18
Christopher Laing Foundation A Registered Charity TRUSTEES, REPORT at 5 April 2024 The Trustees present their financial statements and ann?1 report for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policie5 Set out in note I to the occounts and comply with the charity's trust deed dated 9 July 1979. the Charitie5 Act 2011 and Accounting and Reporting bv Charities.. Statement of Recommended Practice IFRS 1021 and update Bulletlns l and 2. Reference and Admlnlstratiott Detalls of the Charlty, Its Trustees and Advls¢rs. settlor Chrlstopher Maurice Lain8 Date of Deed 9 July 1979 Trustees Christopher Maurice Laing Diana Christina Laing John Ernesr Keeble (retired 16 October 20231 Michael Richard Warwick Laing Richard Walter Minton Halnes Carla Ltsis Patricia Laing Registered Addre55 clo TMF Global Services IUKI Ltd 13th Floor, l Angel Court London EC2R 7HJ Re81Stered ChaThty Number 278460 Website to oundation.com 8ankers C Hoare & Co 37 Fleet Street London EC4P 4DQ Accountants TMF GIDb31 Service5 IUKI Ltd 13th Floor. l Angel Court London EC2R 7HJ Auditors Mercer & Hole LLP 72 London Road 5t Albans Hertfordshire ALI INS Investment Advisors JMFinn&Co 25 Copthall Avenue London EC2R STA Vermeer Partners 130Jerrnyn Street L(Indon 5WIY 4VR
Christopher Laing Foundation A Registered Charity TRUSTEES, REPORT at 5 April 2024 Destination of Fund5 Income To charitable purposes only. (The Trustees had the p¢)wer to atturnulate until 9 July 21)00 when the accumulation period ended), Expendable Endowment Tc be retained by the Trustees or, at their discretion. applied as lor income. Investment Powers Unrestricted. 5trutture, Governante & Management The Foundation is constituted under a trust deed dated 9 July 1979 and is a registered charity, nurnber 278450. TheTrustwas established by a gift from the Settlor, Christopher Maurice Laing. The Tru5tee5 zre appointed by the Settlor during his lifetime. ThÈ Induction process for any newly appointed Trustee comprlses an initial meeting with Christopher Laing and hi5 ctrTrustee5 to cover investment policy, the grant making proces5 and the powers and responsibilities of the Trustee board. After appointment, newTru5tees will be provided with copies of accounts. annual returns and invÈstmeAt PortS. TMF Global Services IUKI Ltd is responsible for the administration )nd accounting functions of the Foundation and acts a5 corre5pcndent for applications for Brants. Applications received by TMF are in the first instance sent to Chftstopher and Oiana Laing for consideration and if appropriatÈ. they are tonsiderÈd by all Tnjstees. Large donations arÈ ÈpnÈrally ¢onsiderÈd and approved at Trustees, meetings which are held bi-4nnu4lly. Srnall donation5 are considerÈd as and when they arise. The Foundation does not actively fundraise and Seeks to continue to support charitable projerts frorn careful stewardship of its investment portfolio. Risk The Trustees have examined the major Strategic ènd operational risk5 that the Foundation faces and confirm that appropriare measures are in place to protect the Foundation from them as far as possible. Objectives and Actiwties At the Trustees. meetin8S, thE Trustees agree their objectives and areas of artivaty for the Foundation, including consideration of grant makin& Inve5tmenty re5erve5 and risk m3nagetnent policle5 and performance. The FDundation derives its Income from investrnents. It istheTru5tee5' Inve5trnent policy to accept investrnent advlce from fund rnana8ers under a discretionary arrangement in order to a£hieve a reasonable balance between capital grovrth 3Thd income yield. The investment managers have been instru¢ted not to directly invest in gambling or tobacco stocks. A large nurnber of requests for donations are received and unfcrtunately only a small proportion of these requests czn be
Christopher Laing Foundation A Registered Charity TRUSTEES, REPORT at 5 April 2024 Grant Making Pollcv The Trust Deed states that the Trust funds are to be used exclusively for charitable purposes at the Trustees, discretlon. The Foundztion therefore makes donations to a wide and varied number of ch3rities. The Trustees, priority area5 of Eiving are focussed on Hertfordshire and oxfordshi and cover.. Re£onstiu¢tion of cornmunitie5 following the Covid-19 pandernic Youth & Education Hornelessness Environmental and conservation work The Trustees make resular payments to a number of charitable organlsatlons who afe inwted to apply on an annual ba515. Achlevements, Public Benefit and Performance During the year to S Apri5 2024. the Foundatlon made donattons totalling £522.$0012023 É432,0961. This includes £35.000 deposited with the Charlties Aid Foundation 12023 £70.0001. The Trustees confirm that they have referred to the guidance ¢ontained in the Charity Q)mmi$5ion'5 general 8uidance on public benefit when setting their 8rant rn)king policy for the year, in line with the charity's 3ims aThd objectives. The Trustees are satisfied that all grants made durin8 the year are for the benefit of the public and that the benefit of each and every grant is clearly idenrifiable. A list of grants can be seen in note 7 to the accounts. Major donations made durlng the year We.. Oxfr*rdshlre Communlty Foundatlon £200,0) The Tru5tee5 continue to provide core 5UPPOrt to this charity. which provide5 grass roots support to orBani5ations in the comrnunity. The Trustees a8reed a further donation of £50,000 each year from October 2024 with £2S,(MJO of that going to the Thriving Nature carnpaiEll. London Air Ambulance £60,000 The Trustees agreed to provide support to this charity in the purchase of new helicopters, training pilots and maintenance. Duke of Édlnburgh's Award £50,000 The Trustees continue to provide core support to thls charity, which provides young people with1Sfe changlng opportunitles. Fletds In Trust The Trustees continue to provlde core support to this charity, which proterts green spaces nationwlde. £50,000 Oxfordshlre Homeless Mo¥ÈmÈnt £2S,000 The Trustees agreed to provide £25.0(10 to this charity forthe support of helplng those who are horneless Oxfordshlre.
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 April 2024 Financial Review The Flnancial 5t6ternent5 have been prepared in accordante with the accountinE policies set out on pages 11 and 12 and comply with the CharitV5 Trust Deed and applicable law. Incoming resource5 for the year from inve5tment5 and cash totalled £478,33612023 £504,413). There were varlous acquisltions and disposals of Investments during the year. ThÈ net loss tsn revaluation and disposals of investment assets amounted to £78,438120231055 £145,6511. The market value of Inve5trnents at 5 April 2024 was £13.287.40712023 £13,353,669). The Trustees have considered the financial health of the charity and the Trustees believe that the ¢haritY* at the date of slgnln& will continue as a golng concern ftirthe foreseeable future. Resenfes At 5 April 2024 unrestritted serveS of E71,361 were carried forward in accordance with theTru5tees' policy on reserve5, which isto expend income to the fullest amount each year with any re5erve5 to be used in the followinB year. Plans for Future Periods The Trustees are sat15fied with their grant makin8 prioritie5 and it is their intention to continue to support a wide and varled number of charities in zccordance wlth their priorities.
Christopher Laing Foundation - A Registered Charity TRUSTEES, REPORT at 5 April 2024 statement of the Trustees, resp¢Asibslities In Te5pert tsf the Itnandal statements The TTU5tee5 are re5POn5ible for preparing the Report of the Trustees and the flnanclal ststements in accordance with applicable13w and Unlted Kingdom Generally Accepted Accounting Practice. The law appllcable to tritIeS in EnBland and Wales, the Charities Act 2011. Charity (Accounts and Reports) Regulatitsn5 2008 and the provision5 of the Trust Deed requires the Trustees to Ppare flnancial statements for each financial year which give a true and fair view of the state Of affairs of the eharity 3nd of the Incorning resource5 and application of resources. including the income and expenditure, of the charity forthat period. In preparing th05efinancial statements. the Twstees are required to- select 5ultable accounting policies and then apply them conststently observethe methcds and PTlnctple5 in the Charlties SORP.. makelud8ement5 and e5tirnales that are reasonable znd prudenL' state whether applicable accounting standards have been followed, 5ubjert to any material departure5 disclosed and explained in the finantial ststements,. prepare the financlal statements on the goin8 concem basis unle55 It 15 inapproprlate to presume that the Foundatlon will Continue in operation. The Trustee5 are responsible for keeping proper accountlng records that disrlose with #$8b¢e a¢¢uracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulation5 2008 and the prDV15ioll5 of the trust deed. They are also responsible for safeguard¢ng the assets of the Foundatitsn and hence fortaking reasonable step5 forthe prevention and detertion of fraud and other irregularitie5. Approved by the Trustees or= Date and slEned on their behalf by.. Trustee
INDEPENDENT AUDITOR'S REPORT to theTrusteesof the Christopher Lalng Foundation-A Reglstered Charfjiv Opinion We have audited the financial statements of Christopher Laing Found2tion Ith*'charit¢l forthe year ended 5 Aprll 2024 which comprise Statement of Financial Activities. the gelance Sheet and note5 to the financial 5taternents, including significènt ac<ountin8 policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. Includlng Financial ReportinE Standard 102 rhe Financial Reportlng Stondord opplicoble in the UK and Republic of IrelLTnd Iunited KinEdom Generally Accepted Accounting Pracricel. In our oplnion the financial statements.. give a true and fair view of the state of the charit(5 3ffèirs as at S April 2024. and of Its incoming resources and application of re50urce5. including Its Income and Èxpenditure, for the yearthen ended.. have been properfy prep2red in a¢cordance with United Kingdom Generally Accepted Accounting Prattice.. and have beefi prepared In accordance with the requirernents of the Charitles Act 2011. Basls for oplnlon WÈ conducted our audit in accordance wlth International St¥ndards on Auditing IUKI IISAS IUKII and applicable 13w. Our re5ponstbilities underthose StandrdSarefurtherdeScrlbed in theAuditorfs responsibilities fortheauditof thefinancial Statements Section of our report. We are independent of the charity in accordance with the ethical requirements that are relev8nt to our audit of the financial statements in the UK, including the FAC'S Ethical Standard, and we have fulfilled our other ethit81 rÈsponsibilities in accordance wlth these requirernents. We believe that the audit evidence we have obt3ined is sufficient and appropriate io prowde a basis lor our opinion. Conclu51ons relating to golng concern In auditing the financial statements, we have ¢oncluded that the trustees. use of the 8olng concern basis of accounting in the prep3r3tion of the financial statements 15 appropriate. Based on the work we have perforrned, we have not 1dentifled any materi¥l uncertainties relètiTr8 to events or conditions that, individually or collectively, may cast significant doubt on the ¢hèriW5 ability to continue 35 a goinE concern for a period of at least twelvÈ months from when the financial statements are authori5ed lor issue. Our re5ponsibilitie5 and the responsibilities of the tru5tee5 Wlth respect to going concern are descrlbed in the relevant sections of thi5 report. Other infomiatlon The other informBtion ¢owprise5 the information included In the trustee5 annual report, other than the fi'n3ncTal 5titement5 artd our auditorfs report thereon. The trustees are responsible for the othÈr inforrnation contained within the Ènnual ieport. Our oplnion pn the fin3ncial 5taternents does not cover the Dther inlorrnation and, except to the extent otherwise explicitly stated in our report. we do not expre55 anyforrn of assurance concluslon thereon. Our re5pon5ibility is to read the other information and, in doing so, consider whether the other inforrnation 15 material in¢onslStent with the fin3ncial statement5 or our knowledge obtained in the course of the audit or otherwise appears to be materially rnisstated. If we identify such material incon51Stencies or èpparent material misstaternents. we are required to determine whether this gives rise to a material mi5Stoternent in the financial statements themselves. If, based on the workwe have performed, we conclude that there Is a material mi55taternent of this other information, we are required to report that fact. We have nothing to report in this regard. Matter5 on whlth we are required to report by exception We have nothing to report in respect ol the following matters in relatlon towhich the Charitie5 (Attounts and Reports) Regulatlons 2008 requlre us to report to you If, in our opinlon.. the ¢nformati(Fn given in the financial Statements is InconsSsrent In any matEri?I respert with the tru5tees' report., or the charity has not kept adequate accounting records.. or the financial statements are not in a8reement with the èccounting records and returns,. or we have not received 211 the information and e¥planations we require for our audlt. Responsibilities of trustee$ A5 explained more fully in the trustees, responsibilities statement. set out on page 5. the trustees are responsible for the preparation of the financial staternents 3nd for being satlsfied that they give a true and fairview, and for su¢h internal control as the trustees determine is ne(e554ry to enable the preparation of financial statements that are free from material mlsstatemenL whether due to fraud or error. In preparlng thÈ financial statements. the trustees are responsible for asse55ing the charitfs 3bilityto continue as a 80in8 concern, dls¢losing, as applicable. rnètters related to going concern and using the going concern basis of accounting unless the trustees elthEr intend to liquidate the charity or to cease opeotion5, or have no realistic alternative but to do so.
Auditorfs re5ponsibllltlesfor the audil of the financial statements We have been appointed a5 auditor under section 144 of the Charities Act 2011 and report In accordan¢e with regulations made under seaion 154 of that Act. Our objectives are to obtain reason3ble a55urance about whether the financial statements as a whole are free from material misstatement whÈther due to fraud or error, and to issue an auditor's report that includes our opinlon. Reasonable 355urance is a high level of assuran¢e but is not a guarantee that an audit conducted in accordance with ISAS IUKI w¥ll alway5 detect a m)teTial mis5tatementwhen st exists. Misstarements £an arise from fraud or error and are considered materi31 rf, individually or in the aggregate, they could reasonably be expected to influence the economic deci5ion5 of users taken on the basis of these financial statements. Irregularltles, includinEfraud, are Instances of non-compliance with laws and regulètlons. We design procedures in line with our responsibilities, outlined above, to detectmateri31 mi5Statements in respect of irre8ularitie5, includingfraud. Theextent towhich our procedures are capable of detetting IrgularItieS, including fraud. Is detalled below. Explanatlon as to what ertent the audit was consldered capable ol detert5ng Irregularitle5, Includln8 fraud We gained an understanding of the legal and rEgulatory framework applicable to the charity and the environment in which it operates and considered the risk of acts bythe charity that were contrary to appllcable law5 and regulations, including fraud. We evaluated management's In¢entive5 and opportunities for fraudulent manipulation of the financial statement5 and the financial report lintSuding the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries includinE iournals to overstate revenue or understate expenditure and management bia5 in accounting estimates. Audit procedures performed by the engagernent team included-. discussions with management, includingccn5iderations of known orsuspettÈd instancesof non-cornpliancewith law5 ar regulations and fraud.. Eaining an understanding of rnanagement's contro15 designed to prevenr and dete¢t irre8ularities,' and identifying and testingloumal entries. Because of the inherent IlmitatlOn5 of an audit, there Is a risk that we will not detect all irregularities, includiTrg those leadin8 to material misstatement in the finantial statements or non-compliance with regulation. This risk increases rhe more that compliance with a law or regulatlcn 15 rernoved from the events and tran5aCtion5 reflected inthe financial statements, a5 wewill be less likely to become aw2rÈ of instances of non-compliance. The risk is also greater re8ardin8 irregularities occurrinE due to fraud rather than error. a5 fraud involves intentional concealment, lorBery collusion, ornission or misrepresentation. A further description cf our responsibilities Is available on the Financial Reporting Council's web51te at.. htt standards-code5- udit-a5 urance-andthics auditor5-res e-audi Thls des¢rlptlon forms part Df curauditorfs report. Use of our repprt Thi5 report 15 made solely to the chaiity's trvstees, a5 a body. in accordance with Part 4 of the Charities IA¢¢ount5 and Reportsl Regulations 2008. Our audit work has been undErtaken SQ that we might stzte to the charitvs trtsstees those rnatters we are required to State to them in an auditorfs report and for no other purpose. To the fvlle5t extent permitted by law. we do not accept or assume responsibilityto anyone other than the chzrity and the chariws trustees as a body, for ourauditwork, forthis report, orfor the opinions we have formed. Steve Robinson, Senior StatutoryAuditor Mercer & Hole LLP Chartered Accountants 72 London Rd, 5t Albans ALI INS Dote.. 24 January 2024 Mer¢er& Hole LLPis eligible to octus on audittjrin termsof5ection 1212 of the ComponlesAcr 2006.
Christopher Laing Foundation - A Registered Charity STATEMENTOF FINANCIAL ACTIVITIES for the year erded 5 April 2024 Total UnrÈstrlded Expendable Endowment Total Funds Income 2024 2023 Note INCOME AND ENDOWMEMrs Investments 478.336 478.336 504,413 TOTAL INCOME 478.336 478,336 504.413 PÉNDITURE C05t cf r3i5ing funds Charrtable activities 49.461 49.461 554.596 49,530 554,596 458,868 TOTAL EXPENDITURE 49,461 554.596 604.OS7 508,398 INCOMEIIEXPENDITUREI BEFORE GAINS AND LOSSES ON INVESTMENTS 149.4611 176,2601 1125.7211 13,9851 Gainslllossesl on revaluatlon of investment assets 8 178.4381 178.4381 1145,6511 INCOMEIIEXPENDITUREI AFfERGAINS AND LOSSES ON INVESTMENTS 1127.8991 176.Z601 1204.IS91 1149,6361 TRANSFER BETWEEN FUNDS NET MOVEMENT IN FUNDS 1127.8991 176.2601 1204,1591 1149,6361 FUND BALANCES BROUGHT FORWARD 13.334.711 147.621 13,482,332 13,631.968 FUND BALANCES CARRIED FORWARD 13.206.812 71.361 13,278,173 13,4B2.332 The Statement of Financial ActMt¢e5 includes all 83in5 and1055es reco8nlsed in the year.
Christopher Laing Foundation - A Registered Charity BALANCE SHEET as at 5 April 2024 2024 2023 Note FIXED ASSETS Investments 13.332.489 13,460,151 13,332.489 13.460,151 CURRENT A5SEts Oebtor Cash at bank 10,380 122.817 7.297 70.192 133.197 187.5131 77,489 155,3081 LIABILITIES: amounts talling due wlthln one year io NCuRRENT ASSETS 45,684 21181 Provision for118bilities and charges li iioo.0001 154,3161 22.181 NET ASSETS 13.278.173 13.482,332 RepTesenting'. UNRESTRICTED FUNDS Expendable endowment 12 13,206,812 13,334.711 Undi5tributed income 12 71,361 147,621 TOTAL CHARITY FUNDS 13,278.173 13,482.332 Approved by thETrustee5 on- Date and Signed on their beh31f bv.. Trustee
Christopher Laing Foundation A Registered Charity STATEMENT OF CASHFLOWS for thè year ended 5 April 2024 2024 2023 Note Cash flows from operating activities: Net cash provlded by (used In) operatlng actlvltles 14 1474.9351 1597,9791 Cash flows from Investln8 artivltles.. Investment income Proceeds frarn sale of Tnve5tment5 478.336 1,497.052 11.509,2281 504.413 1,057.268 11,226.5131 Purch35e of investments Net cash provlded by (used Inl Investln8 tctlvltles 466.160 335.168 Change In ta$h and cash equi¥alents in the year Cash and cash equivalents at the beginning of the year 18.7751 176.674 1262,8111 439,485 Cash and cash equlvalents atthe ertd of the yÈar 167.899 176,674 Represented by.. Czsh held within the investment portfolio Cash at bank 45.082 122,817 106,482 70,192 167,899 176.674 As the trust has no borrowinEs, rFo analysi5 of net debt is included in these financial ststernents.
Christopher Laing Foundation A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at S April 2024 ACCOUNTING POLICIES The princip21 a¢couThtinE policies adopted are as follows.. al Bas15 of preparation and assessment of golrtg ¢onrern The financial statements have been prepared in accordance with Accountlngand ReportlnE by Charitles.. Statement of Recommended Practice IFRS 1021 and update 8ulletins l and 2, and the Charities Art 2011 and applicable regulations. The finantial 5taternents have been prepared under the historical Cost convention, modified to include the revaluation ol fi'xed asset investments. The charity constitutes a publlc benefit eatity a5 defined by FR5 102. The Trustees have considered the financial health of thÈ tharsty and the Trustees believe that the f harity, at the date of signin& will wntinue as a going concern for the foreseeable future. bl Fund strurture The expendable endowment represent5 the funds settled originally by the seOr and funds added from the Estate of the Settlor's farher and the Trustees are permitted to apply the endowment as though It were income. Income is to be used for charitsble purposes onlv. I Income reco8nltlon All income is recogni5ed once the chartty has entitlement to the income. there Is sufficient certainty of receipt and so It is probable that the income will be received, and the amount of income receivable can be measured Interest on funds held is included upon notification of the interesr paid or payable. Dividends are recoEnised once the dividend has been declared and notification has been received of the dividend due. Credlt is taken i the accounts for Income tsx deducted from investment Income which has or will be reclaimed from H M Revenue & Customs up to 5 Aprll 2024. Income from donatlon5 and legacie5 is recognised as it Is ie¢eived by the Trustees. dl Expenditure recognltlon Llabilities are reco8nised as expendltvre as Soon as there is a legal or constructrve obli84tion committing the charity to the expenditure, Is probable that settlement will be required and the arnount cf the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been ¢la$sified under headings that 388regate all costs related to the category. Single or multl-year grants are accounted for when either the recipient has a reasonable expettation that they will recenie a grant and the Trustees have agreed to pay the grant without conditlon. or the ¥ecipient has a reason2ble expectation that they wlll receive a grant and any condition attached to the grant 15 Outside the control of thE charity. el Allocation ofgoveman¢e and support Costs Support costs have been allocared between charitable activ5tles and governance. Support cost5 relating to £haritable activities have been apportioned b4sed on the estimated time spent by the prcfe5sional advisers ernployed in the adminlstration of donations. The allocation of support Costs is analy5ed in note 5. Governance costs comprise all costs involving the public actountability of the charity and its compliance with reBulation and good practice. These costs include costs rÈlated to the audit of the financial statements and zccountancy charges togetherwith an apportionment of support ¢05ts. fj Cost of ralslnE funds The cost of generatlnc funds cornprises the Investment manager5, charges.
Christopher Laing Foundation A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 April 2024 ACCOUNTING POLICIE5- ¢ont¥nued gl Charltable adivffitlÈs Costs 01 charitable activities include Eronts made in the year and an apportionment of governance and support costs as shown in note 4. hl Flxed asset Investments Listed inve5trnents are valued in the Balance Sheet at market value. Unlisted invÈ5tments are Included at the Trustee5' estimate of market vèlue. The net 8ainll10551 on revaluation and disposal of inve5tment5 is shown In the Statement Df Flnancial Attivlties. 11 Reallsed gains and losses All gains and losses are taken to the Statement of Financial Activitles a5 they arise. Re31ised sain5 and losses on invÈsttnent5 are calculated as the diffEfence between sales procped5 and their opening carrying value or their pur£ha5e value if acquired on or subsequent ta the first day of the financial year. Unrealised gains and losses ire calculated as the difference between the fairvalue at the year end 3nd their carrying vHlue. Realised and unre3lised investment gains and losses ère combined in the Statement of Financial Activitie5. Il Foreign exchange Transactions denominated in foreign £UTrencies ère recorded at the rate of exchange ruling at the date of the transactions. Mon@tary assÈts and liabilities denominated In foreign currencies are translèted into 5terlin8 atyeJr- end rates and translation difference5 are t3ken to the Statement of Fin3ncial Artivitios. kl Currency The financial st4ternents are prÈpared in sterlin& whith is the funttional ¢urrency of the charity. Monetary amounts in these fin3nci31 statements are rounded to the nearest £. 11 C45h cash equivalents Cash at bank and cash in hand includesca5h and Short term hiEhly liquid inve5tment5 Wlth a Short m•turity of three rnonths or less from the date of acqussition or openlng of the deposr( or simllar account. INCOME AND ENDOWMENrs 2024 Total Z023 Total Unlisted Llsted Investment in¢ome Investment income from assets in the UK outside the UK Less non-recoverable tax credits 166,041 198,310 126,580 118,0231 364.351 126,580 118,0231 366,231 151.067 115.1341 166.041 306,867 472,908 502,164 Deposit interest 5,428 2,249 478.336 504.413 COSTOF RAISING FUNDS 2024 2023 Invesrment rnanagers, chèrge$ 49.461 49,530
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 April 2024 ANALYSIS OF CHARITABLE ACTlVtTIE5 Thecharity undertakes its charitable aCttleSthr0Ughzrant rnakingand awarded grantsto a numberof instltutions in furtherance of its charitable objectives. 2024 2023 Grantfunded activity Support costs 522,500 6.910 25.186 432,096 5,696 21.076 charitable actNities (note 51 8overnance costs InotÈ 61 554,596 458.868 A detailed analysis of grant5 3warded durln8 the year is given in note 7. ALLOCATION OF SUPPORYCOST5 Support Costs were allocated between charitable activities and governance as shown below.. Total Allocated Charitable C05tTrpe Artlvitle5 Governance 8a$ls of Apportlonmefit General trust administration 17,274 6.910 10,364 Tin7e of professlonal adw5er5 GOVERNANCE COSTS Expendable Endowment Total 2024 Total 20Z3 Income Auditors, remuneration fjeneral trust administratio Accountancy services Bank charges Web51te Fees Sundry expense5 4.260 10.364 9,717 420 4,260 10.364 9.717 420 4.080 8.543 8,009 409 390 390 35 35 35 25,186 25.186 21,076 The Trustees recelved no remuneration or expenses In SpeCt of their seryices12023- £NIII.
Christopher Laing Foundation A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 Aprll 2024 ANALYSIS OF CHARITABLE EXPÉNDITURE The charity awarded crants to a nLsmber of institutions in furtheTan¢e tsf Its charltable activities which are summarisÈd as follows.. 2024 2023 Child and Youth Cultural and Environmental 55.000 50.000 382.500 35.000 55,WQ 80,000 227,096 70.oao Other li 15 Charities Ald Foundation 522.500 432,096 Detalls of the institutions ère as follows.. DONATIONSTO REGISTERED CHARITIES Child and Youth Duke of Edinburgh's Award Oxftsrdshire Youth S0,OOD 55,000 Cultural and Environmerrtal Fields in Trust INatiana1 Playing Fields Associetionl121 50,000 50.000 Other The Bradfield Foundation 2,500 5.000 25,000 5,000 5.000 The Tirn Henman Foundation121 The Chiltern Centre Henley Festival Trust Lhtle Green Pi6 London Air Ambulance121 National Emereencies frust Oxfordshire Communty Foundation Oxfordshire Homeless Movement 60,000 25,000 200.000 25,000 10,000 20.000 RAW Workshop Sue Ryder 382.500 TOTAL DONATIONSTO REGISTERED CHARlnES CHARITIESAID KIUNDATION 35.000 TOTALDONATIONS FOR THE YEAR 522,500
Christopher Laing Foundation A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2024 ANALYSIS OF CHARITABLE LXPENDtTURE. continued CHARITIESAID FOUNDATION Balance held a5 at 6 April 2023 Payments to Charlties Aid Foundation CAF Admlnistration Charge (including VAn Grants p8ld 20,498 35,000 12,47SI 146,4SOI Balance a5 at 5 April 2024 6,573 A sample of Erants to Institutlons of £l.000 and over Isglven below: Chlld and Youth East Anglia's Children's Hospices121 Quest for Learning121 The Prlnces Trust 1,000 2,000 1,000 Medital REseaTth The Institute Df Cancer Reseaich Soclal Welfare Be Fe Young Carers Ltd 8ritish Wheelchair Sport5 Foundation Ltd Hearing Dogs forthe Deaf Horne Start Southern Oxfordshlre Hospice of St Francis (Berkhamstedl Ltd Isabel Hospice Macmillan Cancer Support121 Maggie's Keswick Jencks Cancer Carlng Cefitre$ Tiust My Name's Doddie Rennie Grove Hospice Care121 Thame5 Hospice 1.000 1,000 1.000 1.000 1,000 1,000 i.soo 1.000 1.250 i.ioo 1.000 16,8SO Related Pa Transartlons The trustees made a one-off donation of £25.000 to The Chiltern Centre. a re8lstered charlty. ChrTrstophEr Lain8 is patron of The Chiltern Centre.
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 Aprll 2024 FIXED A55ET INVESTMENTS Un4UtstÈd Investments Tru5tees' Cash held whhln the Quoted Investment Total Name5 Investments Portfolio Z024 Market value at 5 April 2023 Disposal proceeds Add.. acquisltions at tost Investment galns/llossÈsl Movements in cash 4.635.798 8.717.871 11,497.0531 1,509.228 203,609 106.482 13,460,151 11,497,052> 1,509.128 178.4381 161.4Tr)1 1282,0471 161,4001 Market value at 5 Aprll 2024 4,353,751 8.933.656 45,082 13,332.489 Historical cost at 5 April 2024 1.819,272 7.130.455 8.949.727 Flitttsrical cost at 5 April 2023 1.819,272 7.031.524 8.850,796 Unquoted Investments Cash held wlthin the Trustee5' Qtsot¢d Investment Investment Total Names Portfolio 20Z4 Investment assets in the UK 4.353.751 4,589,703 4,343,953 45.082 8.988.536 Investment assets Outslde the UK 4,343,953 4.353.751 8,933.656 45,082 13.332.489 The J M Finn & Co portfollo iftcludes an Investment made in M&G Investment Managemerft Limlted made on behalf of the Trustees during the year ended 5 April 2010. on a non-discretionary basis. The following itwestments comprlse rn0 than 5% of the value of investment gortFollo'. Name Holding Market Value Eskmulr Properties Itd The Diver5if¢ed Property Fund for Charities 217,616 ordinary 5hare5 of £1 1.351.175 units E2,511,289 El.842,462 Christopher Laing, a Trustee. Is Chairman of Eskmulr Properties Ltd. The Dlversifled Property Fund for Charitie5 15 managed by Eskmuir Propertles Ltd. The market value of the unquoted investments. Eskmuir Properties Ltd and The Dlvelslfled Property Fund for Charities, have been calculated using the estlmated market values provided to the frustees at 30 September 2023 of £11.54 per share, and at 31 March 2024 of £1.3636 per sha, respectivelv.
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at 5 April 2024 CURRENT ASSÈTS 2024 2023 Debtors Income tax recoverable 10.380 7,297 10,380 7.297 Bank balance5 C Hoare & Co Broker5, income accounts Vermeer JM Finn 103.325 49.275 19.237 255 20,918 122.817 70,192 10. UABILITIES- AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Auditors 5,640 22,436 9,437 4.080 17,029 9.199 25,OLKI Accountants Investment managers Grants - St Lawrence College 2nd of 2 Qxford5hire Comrnunity Foundation 1st of 3 SO.OOD 87.513 55,308 11. PROVISION FOR LIABILITIES AND CHARGES 1024 2023 Grants Oxfordshire Community Foundation 2nd & 3rd of 3 IDO,000 ioo,ocK) 12. UNRESTRICTED FUNDS Unrestricted funds at 5 April 2024 comprise the followin8-. Expendable Endowment Undistributed Income Total 2024 Total 2023 Inve5rmeAts Debtors Cash Creditor5 13,332.489 13.332,489 10.380 122,817 1187,5131 13,353.669 7,297 176,674 155,3081 10,380 239,057 1178,0761 1116.2401 19,4371 13,206,812 7L361 13.278.173 13,482.332
Christopher Laing Foundation - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at S April 2024 IS. VOLU14TEERS Otherthan the Trustees, the Foundation retÈives no Contribu0 from volunteers. 14. RECONCILIATION OF MOVEMENTS IN f UNDSTO NETCASH FLOW FROM OPERATING ACTIVITIES Z024 2023 Net movernent in funds las perthe Statement of Financial Attivftiesl (Gainslllosses on investments shown in investing activitie5 Dedutt investment income shown in investing actwltles Ilncreaselldecrease in debtors Increa5e/ldecrea5el in creditor5 1204.IS91 78,438 1478.3361 13,0831 132.205 1149.6361 145.651 1504,4131 12,1881 187.2931 Net cash provided by lused inl oper3tin8 aCtNitie5 1474,9351 1597,9791