Christopher Laing Foundation - A Registered Charity
Report and Financial Statements
5 April 2025
Christopher Laing Foundation - A Registered Charity
CONTENTS
| Page | |
|---|---|
| TRUSTEES' REPORT | 1 - 5 |
| AUDITOR S REPORT |
6 - 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| BALANCE SHEET | 9 |
| STATEMENT OF CASHFLOWS | 10 |
| NOTES TO THE FINANCIAL STATEMENTS | 11 - 18 |
Christopher Laing Foundation - A Registered Charity
TRUSTEES' REPORT
at 5 April 2025
The Trustees present their financial statements and annual report for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed dated 9 July 1979, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) and update Bulletins 1 and 2.
Reference and Administration Details of the Charity, its Trustees and Advisers.
| Settlor Date of Deed Trustees Registered Address Registered Charity Number Website Bankers Accountants Auditors Investment Advisors |
Christopher Maurice Laing 9 July 1979 Christopher Maurice Laing Diana Christina Laing Michael Richard Warwick Laing Richard Walter Minton Haines Carla Lois Patricia Laing c/o TMF Global Services (UK) Ltd 13thFloor, 1 Angel Court London EC2R 7HJ 278460 www.christopherlaingfoundation.com |
|---|---|
| C Hoare & Co 37 Fleet Street London EC4P 4DQ TMF Global Services (UK) Ltd 13thFloor, 1 Angel Court London EC2R 7HJ Mercer & Hole LLP 72 London Road St Albans Hertfordshire AL1 1NS J M Finn & Co 25 Copthall Avenue London EC2R 5TA Vermeer Partners 130 Jermyn Street London SW1Y 4UR |
1
Christopher Laing Foundation - A Registered Charity
TRUSTEES' REPORT
at 5 April 2025
Destination of Funds (a) Income To charitable purposes only. (The Trustees had the power to accumulate until 9 July 2000 when the accumulation period ended). (b) Expendable Endowment To be retained by the Trustees or, at their discretion, applied as for income.
Investment Powers Unrestricted.
Structure, Governance & Management The Foundation is constituted under a trust deed dated 9 July 1979 and is a registered charity, number 278460. The Trust was established by a gift from the Settlor, Christopher Maurice Laing.
The Trustees are appointed by the Settlor during his lifetime.
The induction process for any newly appointed Trustee comprises an initial meeting with Christopher Laing and his co-Trustees to cover investment policy, the grant making process and the powers and responsibilities of the Trustee board. After appointment, new Trustees will be provided with copies of accounts, annual returns and investment reports.
TMF Global Services (UK) Ltd is responsible for the administration and accounting functions of the Foundation and acts as correspondent for applications for grants. Applications received by TMF are in the first instance sent to Christopher and Diana Laing for consideration and if appropriate, they are considered by all Trustees. Large donations are generally considered and approved at Trustees' meetings which are held bi-annually. Small donations are considered as and when they arise. The Foundation does not actively fundraise and seeks to continue to support charitable projects from careful stewardship of its investment portfolio.
Risk The Trustees have examined the major strategic and operational risks that the Foundation faces and confirm that appropriate measures are in place to protect the Foundation from them as far as possible. Objectives and Activities At the Trustees' meetings, the Trustees agree their objectives and areas of activity for the Foundation, including consideration of grant making, investment, reserves and risk management policies and performance.
The Foundation derives its income from investments. It is the Trustees' investment policy to accept investment advice from fund managers under a discretionary arrangement in order to achieve a reasonable balance between capital growth and income yield. The investment managers have been instructed not to directly invest in gambling or tobacco stocks.
A large number of requests for donations are received and unfortunately only a small proportion of these requests can be fulfilled.
2
Christopher Laing Foundation - A Registered Charity
TRUSTEES' REPORT
at 5 April 2025
Grant Making Policy
The Trust Deed states that the Trust funds are to be used exclusively for charitable purposes at the Trustees' discretion. The Foundation therefore makes donations to a wide and varied number of charities. Oxfordshire and cover:
Reconstruction of communities following the Covid-19 pandemic Youth & Education Homelessness Disabilities Environmental and conservation work
The Trustees make regular payments to a number of charitable organisations who are invited to apply on an annual basis.
Achievements, Public Benefit and Performance
During the year to 5 April 2025, the Foundation made donations totalling £484,500 (2024 £522,500). This includes £60,000 deposited with the Charities Aid Foundation (2024 £35,000). The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when setting their grant making policy for the year, in line with the charity's aims and objectives.
The Trustees are satisfied that all grants made during the year are for the benefit of the public and that the benefit of each and every grant is clearly identifiable. A list of grants can be seen in note 7 to the accounts.
Major donations made during the year were:
National Emergencies Trust
£30,000
The Trustees agreed to provide support to this charity who are an independent charity, dedicated to responding to UK disasters.
RNLI £30,000 The Trustees agreed to provide support to this charity that is dedicated to saving lives at sea.
The Trustees continue to provide core support to this charity, which provides young people with life changing opportunities.
Fields in Trust
£50,000
The Trustees continue to provide core support to this charity, which protects green spaces nationwide.
Greenhouse Sports
Greenhouse Sports £60,000 The Trustees agreed to continue support to this charity whose mission is to transform the lives of the children with Special educational needs.
3
Christopher Laing Foundation - A Registered Charity
TRUSTEES' REPORT
at 5 April 2025
Financial Review The Financial Statements have been prepared in accordance with the accounting policies set out on pages 11 and 12 and comply with the Charity's Trust Deed and applicable law.
Incoming resources for the year from investments and cash totalled £673,669 (2024 £478,336). In June 2024, the charity received 642,241 Eskmuir Properties Limited shares from the Kirby Laing Foundation at a value of £7,411,461.
There were various acquisitions and disposals of investments during the year. The net loss on revaluation and disposals of investment assets amounted to £800,817 (2024 loss £78,438). The market value of investments at 5 April 2025 was £19,819,184 (2024 £13,287,407).
The Trustees have considered the financial health of the charity and the Trustees believe that the charity, at the date of signing, will continue as a going concern for the foreseeable future.
Reserves At 5 April 2025 unrestricted reserves of £231,839 were carried forward in accordance with the Trustees' policy on reserves, which is to expend income to the fullest amount each year with any reserves to be used in the following year. Plans for Future Periods The Trustees are satisfied with their grant making priorities and it is their intention to continue to support a wide and varied number of charities in accordance with their priorities.
4
Christopher Laing Foundation - A Registered Charity
TRUSTEES' REPORT
at 5 April 2025
Statement of the Trustees' responsibilities in respect of the financial statements
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy 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) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on:
Date
and signed on their behalf by:
Trustee
5
INDEPENDENT AUDITOR'S REPORT
to the Trustees of the Christopher Laing Foundation - A Registered Charity
Opinion
We have audited the financial statements of Christopher for the year ended 5 April 2025 which comprise Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
5 April 2025, and of its incoming resources and application
of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit ibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
e
preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustees annual report, other than the financial statements and opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
the charity has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
, set out on page 5, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
g concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
6
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Explanation as to what extent the audit was considered capable of detecting irregularities, including 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 by the charity that were contrary to applicable laws and regulations, including fraud.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
discussions with management, including considerations of known or suspected instances of non- compliance with laws and regulations and fraud;
gaining an understanding of management's controls designed to prevent and detect irregularities; and identifying and testing journal entries.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit/. This
Use of our report
orts) re r this report, or for the opinions we have formed.
Steve Robinson, Senior Statutory Auditor Mercer & Hole LLP Chartered Accountants 72 London Rd, St Albans AL1 1NS
Date: 2 February 2026
Mercer & Hole LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
7
Christopher Laing Foundation - A Registered Charity
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 5 April 2025
| Note INCOME AND ENDOWMENTS Investments 2a Donations 2b TOTAL INCOME EXPENDITURE Cost of raising funds 3 Charitable activities 4 TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) BEFORE GAINS AND LOSSES ON INVESTMENTS Gains/(losses) on revaluation of investment assets 8 NET INCOME/(EXPENDITURE) AFTER GAINS AND LOSSES ON INVESTMENTS TRANSFER BETWEEN FUNDS NET MOVEMENT IN FUNDS FUND BALANCES BROUGHT FORWARD FUND BALANCES CARRIED FORWARD |
Expendable Endowment £ - 7,411,461 7,411,461 50,074 - 50,074 7,361,387 (800,817) 6,560,570 - 6,560,570 13,206,812 19,767,382 |
Income £ 673,669 - |
Total 2025 £ 673,669 7,411,461 8,085,130 50,074 513,131 563,205 7,521,925 (800,817) 6,721,108 - 6,721,108 13,278,173 19,999,281 |
Total Unrestricted Funds 2024 £ 478,336 - |
|
|---|---|---|---|---|---|
| 673,669 | 478,336 | ||||
| - 513,131 |
49,461 554,596 |
||||
| 513,131 | 604,057 | ||||
| 160,538 - |
(125,721) (78,438) |
||||
| 160,538 - |
(204,159) - |
||||
| 160,538 71,361 |
(204,159) 13,482,332 |
||||
| 231,899 | 13,278,173 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
8
Christopher Laing Foundation - A Registered Charity
BALANCE SHEET
as at 5 April 2025
| Note FIXED ASSETS Investments 8 CURRENT ASSETS Debtor 9 Cash at bank 9 LIABILITIES: amounts falling due within one year 10 NET CURRENT ASSETS Provision for liabilities and charges 11 NET ASSETS Representing: UNRESTRICTED FUNDS Expendable endowment 12 Undistributed income 12 TOTAL CHARITY FUNDS |
2025 £ 19,892,758 19,892,758 12,940 230,494 243,434 (86,911) 156,523 (50,000) 106,523 19,999,281 19,767,382 231,899 19,999,281 |
2024 £ 13,332,489 |
|---|---|---|
| 13,332,489 | ||
| 10,380 122,817 |
||
| 133,197 (87,513) |
||
| 45,684 (100,000) |
||
| (54,316) | ||
| 13,278,173 | ||
| 13,206,812 71,361 |
||
| 13,278,173 |
Approved by the Trustees on:
Date
and signed on their behalf by:
Trustee
9
Christopher Laing Foundation - A Registered Charity
STATEMENT OF CASHFLOWS
for the year ended 5 April 2025
| Cash flows from operating activities: Note Net cash provided by (used in) operating activities 14 Cash flows from investing activities: Investment income Proceeds from sale of investments Purchase of investments Net cash provided by (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Represented by: Cash held within the investment portfolio 8 Cash at bank 9 |
2025 £ (616,367) 673,669 1,980,249 (1,901,382) 752,536 136,169 167,899 304,068 73,574 230,494 304,068 |
2024 £ (474,935) |
|---|---|---|
| 478,336 1,497,052 (1,509,228) |
||
| 466,160 | ||
| (8,775) 176,674 |
||
| 167,899 | ||
| 45,082 122,817 |
||
| 167,899 |
As the trust has no borrowings, no analysis of net debt is included in these financial statements.
10
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
1. ACCOUNTING POLICIES
The principal accounting policies adopted are as follows:
a) Basis of preparation and assessment of going concern
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) and update Bulletins 1 and 2, and the Charities Act 2011 and applicable regulations.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of fixed asset investments. The charity constitutes a public benefit entity as defined by FRS 102.
The Trustees have considered the financial health of the charity and the Trustees believe that the charity, at the date of signing, will continue as a going concern for the foreseeable future.
b) Fund structure
The expendable endowment represents the funds settled originally by the Settlor and funds added from the Estate of the Settlor's father and the Trustees are permitted to apply the endowment as though it were income. Income is to be used for charitable purposes only.
c) Income recognition
All income is recognised once the charity 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 reliably.
Interest on funds held is included upon notification of the interest paid or payable. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Credit is taken in the accounts for income tax deducted from investment income which has or will be reclaimed from H M Revenue & Customs up to 5 April 2025.
Income from donations and legacies is recognised as it is received by the Trustees.
d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attached to the grant is outside the control of the charity.
e) Allocation of governance and support costs
Support costs have been allocated between charitable activities and governance. Support costs relating to charitable activities have been apportioned based on the estimated time spent by the professional advisers employed in the administration of donations. The allocation of support costs is analysed in note 5.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the audit of the financial statements and accountancy charges together with an apportionment of support costs.
f) Cost of raising funds
The cost of generating funds comprises the investment managers' charges.
11
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
1. ACCOUNTING POLICIES - continued
g) Charitable activities
Costs of charitable activities include grants made in the year and an apportionment of governance and support costs as shown in note 4.
h) Fixed asset investments
Listed investments are valued in the Balance Sheet at market value. Unlisted investments are included at the Trustees' estimate of market value. The net gain/(loss) on revaluation and disposal of investments is shown in the Statement of Financial Activities.
i) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired on or subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
j) Foreign exchange
Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at yearend rates and translation differences are taken to the Statement of Financial Activities.
k) Currency
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
l) Cash and cash equivalents
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Recognition of Debtors and Liabilities
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2. INCOME AND ENDOWMENTS
| INCOME AND ENDOWMENTS | ||||
|---|---|---|---|---|
| a) Investment income Investment income from assets - in the UK - outside the UK Less non-recoverable tax credits Deposit interest |
Unlisted Listed £ £ 359,195 198,833 - 130,134 - (19,724) 359,195 309,243 |
2025 Total £ 558,028 130,134 (19,724) 668,438 5,231 673,669 |
2024 Total £ 364,351 126,580 (18,023) 472,908 5,428 478,336 |
|
b) Donations
In June 2024, the charity received 642,241 Eskmuir Properties Limited shares from the Kirby Laing Foundation at a value of £7,411,461.
12
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
3. COST OF RAISING FUNDS
2025 2024 £ £ charges 50,074 49,461
4. ANALYSIS OF CHARITABLE ACTIVITIES
The charity undertakes its charitable activities through grant making and awarded grants to a number of institutions in furtherance of its charitable objectives.
| in furtherance of its charitable objectives. | ||
|---|---|---|
| Grant funded activity Support costs - charitable activities (note 5) - governance costs (note 6) |
2025 £ 484,500 5,974 22,657 513,131 |
2024 £ 522,500 6,910 25,186 |
| 554,596 |
A detailed analysis of grants awarded during the year is given in note 7.
5. ALLOCATION OF SUPPORT COSTS
Support costs were allocated between charitable activities and governance as shown below:
| Total | Charitable | |||
|---|---|---|---|---|
| Cost Type | Allocated | Activities | Governance | Basis of Apportionment |
| £ | £ | £ | ||
| General trust administration | 14,934 | 5,974 | 8,960 | Time of professional advisers |
6. GOVERNANCE COSTS
| GOVERNANCE COSTS | ||||
|---|---|---|---|---|
| Expendable | Total | Total | ||
| Endowment | Income | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Auditors' remuneration | - | 4,440 | 4,440 | 4,260 |
| General trust administration | - | 8,960 | 8,960 | 10,364 |
| Accountancy services | - | 8,400 | 8,400 | 9,717 |
| Bank charges | - | 420 | 420 | 420 |
| Website Fees | - | 390 | 390 | 390 |
| Sundry expenses | - | 47 | 47 | 35 |
| - | 22,657 | 22,657 | 25,186 |
The Trustees received no remuneration or expenses in respect of their services (2024 - £Nil).
13
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
7. ANALYSIS OF CHARITABLE EXPENDITURE
The charity awarded grants to a number of institutions in furtherance of its charitable activities which are summarised as follows:
| summarised as follows: | ||
|---|---|---|
| 2025 No Child and Youth 4 Cultural and Environmental 1 Other 19 Charities Aid Foundation - |
£ 2024 No 77,000 2 50,000 1 297,500 11 60,000 - 484,500 |
£ 55,000 50,000 382,500 35,000 |
| 522,500 |
Details of the institutions are as follows:
| DONATIONS TO REGISTERED CHARITIES Child and Youth Caldicott School Lambrook School Stowe School Cultural and Environmental Fields in Trust (National Playing Fields Association) (2) Other Action for ME Age UK The Bradfield Foundation The Chiltern Centre Greenhouse Sports (2) Henley Festival Trust John Laing Charitable Trust Kids for Kids Little Green Pig London Air Ambulance (2) The London Construction Academy Lords Taverners (2) Merseyside Community Foundation National Emergencies Trust Oxfordshire Homeless Movement The Paviors Charity SOFEA RNLI Sue Ryder TOTAL DONATIONS TO REGISTERED CHARITIES CHARITIES AID FOUNDATION TOTAL DONATIONS FOR THE YEAR |
£ 10,000 60,000 5,000 2,000 |
|---|---|
| 77,000 | |
| 50,000 | |
| 50,000 | |
| 20,000 20,000 2,500 25,000 60,000 5,000 5,000 5,000 5,000 10,000 5,000 15,000 2,500 30,000 25,000 2,500 10,000 30,000 20,000 |
|
| 297,500 | |
| 60,000 | |
| 484,500 |
14
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
7. ANALYSIS OF CHARITABLE EXPENDITURE - continued
CHARITIES AID FOUNDATION
| CHARITIES AID FOUNDATION Balance held as at 6 April 2024 Payments to Charities Aid Foundation CAF Administration Charge (including VAT) Grants paid Balance as at 5 April 2025 A sample of grants to institutions of £1,000 and over is given below: Child and Youth Quest for Learning NSPCC (2) Wycombe Youth Action Young Lives v Cancer (2) Medical Research ASPIRE (2) Muscular Dystrophy (2) Social Welfare Action on Hearing Loss Action for ME DSACHIEVE Hearing Dogs for the Deaf Home Start Southern Oxfordshire Hospice of St Francis (Berkhamsted) Ltd Longridge on the Thames Macular Society (2) Opera Prelude Oxfordshire Community Churches Response Organisation Riverside Counselling Service Swings & Smiles |
£ 6,573 60,000 (2,700) (55,150) |
| 8,723 | |
| £ 1,000 3,000 1,000 1,500 1,250 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 |
|
| 22,750 |
Related Party Transactions
The trustees made a one-off donation of £25,000 to The Chiltern Centre, a registered charity. Christopher Laing is a patron of The Chiltern Centre. The trustees also made a one-off donation of £5,000 to the John Laing Charitable Trust, a registered charity. The trustees of the John Laing Charitable Trust include Christopher Laing.
15
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
| 8. FIXED ASSET INVESTMENTS Unquoted Investments Trustees' Names £ Market value at 5 April 2024 4,353,751 Disposal proceeds - Add: acquisitions at cost - Transferred in from KLF 7,411,461 Investment gains/(losses) (61,065) Movements in cash - Market value at 5 April 2025 11,704,147 Historical cost at 5 April 2025 9,230,734 Historical cost at 5 April 2024 1,819,272 Unquoted Investments Trustees' Names £ Investment assets in the UK 11,704,147 Investment assets outside the UK - 11,704,147 |
Quoted Investments £ 8,933,656 (1,980,249) 1,901,382 (739,752) - 8,115,037 7,032,971 7,130,455 Quoted Investments £ 3,589,404 4,525,633 8,115,037 |
Cash held within the Investment Portfolio £ 45,082 - - - 28,492 73,574 - - Cash held within the Investment Portfolio £ 73,574 - 73,574 |
Cash held within the Investment Portfolio £ 45,082 - - - 28,492 |
Total 2025 £ 13,332,489 (1,980,249) 1,901,382 7,411,461 (800,817) 28,492 19,892,758 16,263,705 8,949,727 Total 2025 £ 15,367,125 4,525,633 19,892,758 |
Total 2025 £ 13,332,489 (1,980,249) 1,901,382 7,411,461 (800,817) 28,492 |
|---|---|---|---|---|---|
| 73,574 | 19,892,758 | ||||
| - | 16,263,705 | ||||
| 8,949,727 |
The J M Finn & Co portfolio includes an investment made in M&G Investment Management Limited made on behalf of the Trustees during the year ended 5 April 2010, on a non-discretionary basis.
The following investments comprise more than 5% of the value of investment portfolio:
| Name | Holding | Market Value |
|---|---|---|
| Eskmuir Properties Ltd | 859,857 ordinary shares of £1 | £9,707,785 |
| The Diversified Property Fund for Charities | 1,351,175 units | £1,996,361 |
Christopher Laing, a Trustee, is Chairman of Eskmuir Properties Ltd. The Diversified Property Fund for Charities is managed by Eskmuir Properties Ltd.
The market value of the unquoted investments, Eskmuir Properties Ltd and The Diversified Property Fund for Charities, have been calculated using the estimated market values provided to the Trustees at 30 September 2024 of £11.29 per share, and at 31 March 2025 of £1.4775 per share, respectively.
16
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
| 9. CURRENT ASSETS Debtors - Income tax recoverable Bank balances - C Hoare & Co - Combined 10. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR Auditors Accountants Investment managers Grants Oxfordshire Community Foundation 2nd of 3 11. PROVISION FOR LIABILITIES AND CHARGES Grants Oxfordshire Community Foundation 3rd of 3 12. UNRESTRICTED FUNDS Unrestricted funds at 5 April 2025 comprise the following: Expendable Endowment £ Investments 19,892,758 Debtors - Cash (116,239) Creditors (9,137) 19,767,382 |
9. CURRENT ASSETS Debtors - Income tax recoverable Bank balances - C Hoare & Co - Combined 10. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR Auditors Accountants Investment managers Grants Oxfordshire Community Foundation 2nd of 3 11. PROVISION FOR LIABILITIES AND CHARGES Grants Oxfordshire Community Foundation 3rd of 3 12. UNRESTRICTED FUNDS Unrestricted funds at 5 April 2025 comprise the following: Expendable Endowment £ Investments 19,892,758 Debtors - Cash (116,239) Creditors (9,137) 19,767,382 |
Undistributed Income £ - 12,940 346,733 (127,774) |
2025 £ 12,940 12,940 211,630 18,864 230,494 2025 £ 4,440 23,334 9,137 50,000 86,911 2025 £ 50,000 50,000 Total 2025 £ 19,892,758 12,940 230,494 (136,911) |
2024 £ 10,380 10,380 103,325 19,492 122,817 2024 £ 5,640 22,436 9,437 50,000 87,513 2024 £ 100,000 100,000 Total 2024 £ 13,332,489 10,380 122,817 (187,513) |
||
|---|---|---|---|---|---|---|
| 19,767,382 | 231,899 | 19,999,281 | 13,278,173 |
17
Christopher Laing Foundation - A Registered Charity
NOTES TO THE FINANCIAL STATEMENTS
at 5 April 2025
13. VOLUNTEERS
Other than the Trustees, the Foundation receives no contribution from volunteers.
14. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net movement in funds (as per the Statement of Financial Activities) (Gains)/losses on investments shown in investing activities Deduct investment income shown in investing activities Deduct donation from Kirby Laing Foundation (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities |
2025 £ 6,721,108 800,817 (673,669) (7,411,461) (2,560) (50,602) (616,367) |
2024 £ (204,159) 78,438 (478,336) - (3,083) 132,205 |
|---|---|---|
| (474,935) |
18