Martin Laing Foundation A Registered Charity Report and Financial Statements 5 April 2023 Martin Laing Foundation A Registered Charity CONTENTS Page TRUSTEES, REPORT AUDITOR5, REPORT STATEMENTOF FINANCIAL ACTIVITIES BALANCE SHEET STATEMENT OF CASHFLOWS io NOTESTOTHE FINANCIAL STATEMENTS 11-19 Martin Laing Foundation A Registered Charity TRUSTEES. REPORT 815 Aprll 2023 The Trusiees preseni their finantial statements and annual report for the year ended 5 April 2023. The financial statemenis have been prepared in accordance with the ètcountinE polities set out in note I to the accounts and comply with the harity's IfU51 deed dated 2 july 1979, Ihe Charities Act 2011 and Accountin8 and Rewrting by Charitie5'. Statement of Re¢ommended Practice IFRS 1021 and update Bulletins l & 2. Refèrontè and Admlnlstratfon Detallsof the Charfty,1¢5 TIu5tee5 and Adv150r5 &rJphn Maftin Kirby Laing Date of Oeed 2 july 1979 Trustees Sir John Martin Kirby Laing Edward Charle5 Kirby Laing Ni¢holasJohn Gregory Lady Stephanie siearn Laing Colin Howard Fletcher- retired 5 April 2023 AleXa￿[a Catherine Beatrice lane Gregory Charlotte Elizabeth LaingGregory-appoinled S April 2023 Registered Addres5 33 Bunns Lane Lond¢n NW7 2DX Registered Charity Number 278461 Website banker5 HSBC bank plc 23 New ionduit Street Norfolk PE30 IDE Accountant5 TMFGlobal 5ervice5 IUKI Ltd OneAD8el Court London EC2R 7HJ Auditor5 Mercer& Hole LLP 72 London Road St Alban5 Herrfordshlre ALI INS Investment Advi50ts 8arratt & Cooke 516 Opie Street Norwich NRI 3DW Pothecary With3m Wek4 84 Ec(leSt￿ Square Londo swiv ipx Martin Laing Foundation A Registered Charity TRUSTEES, REPORT at 5 April 2023 Trust Objecrive5 IncorDe ExpÈnd3ble endowment exclusively for ¢h?rtt8ble purposes. To be retained byihe Trusteesor. attheirdixretlon. 3pplitrd asfor in¢¢me. Strutture, Governance and Managernent The Martin Laing Foundatitsn I'the Foundation'l Isan unincorporated trust chariry, numèer 278461. The Trust wa5 established by a gift from the Settlor, Sirjohn Martin Kirby Lain8. Followin8 the appointment of two new Trustees. Charlotte Gregory and Robert GirdlestOnE. the Iztter appointed after the year end, and the resignation ol Cglin FSetcher.there areturrÈntlyseven TruStees.The power making such appointments he takes account of the range of skills and experlente necessary for the efficient 8overnance of the Foundation. Pfocedures forthe indurtioll of newTtusteesinvolve an initiil meetlng with &r Martin. his co-Trustees and the Trust Oirect¢r to discuss investments, the 8r3nt-makinB process and the powers and responslbilifies of the Tru5tee5, and the prowsion Of a pack of information iTh¢luding most recent occoynts innu81 return. investment ￿ptsrts, a topy of the Trust DÈÈd and minutès of thè last Trusteès. meètln8. Whlle welcomlng the new Trustee5, the remaining Tru5tee5 would liketo pl3¢e ort record theirthanks to Colin Fleicher for the wealth of knowledge wise advice he brought to the Foundation over 16 year5. TheTru5tee5 meet three tirnes a yèar to tonsidw thè performènce of their investment portfolio, èpprovethe éiStributSon of grants and revlew policie5 on reserves and risk assessment. The day-to-day administration of grants are carried out by a small staff team, who are employed bythe Kirby Laing Trust. Kirby Lain4 Foundaiion and MauricÈ & Hllda ￿Irt8 Charitable Trust, known collectively as the Laing Famlly Trusts-, employment costs and costs assDCiated With the shared office space, which is owned by the Reculver Trust, are divided between the Trusts. TheTru5ts also have a joint website IvdWW.laingfamilytrusts.or8.ukl which provides guidance on the object￿e5 and Activitie5 The Foundatlon's only charktsble actlvlty lslts 8r3nt-makln8 programme. In at¢¢rdince with the Trust Deeo, whlch states thatthe trust funds areto be Tru5tee5 Seek, through this prOg￿rn[nE, to 5UPPOrt charitable projects In environmental and conservation work proje￿5 benefitlng disadvantaged young people or the eldedyrinfirm In Norfolk. Essex or Hertfordshire supported primarily through sm311 social welfare and cultural projects ID Malta and Thail3nd Annu31 grant5 are rnade to z fiumber of charities with which the Trustees have3 close affinityand veryfew un501icitedapplicatvJn5 tothe Foundation are 5ucce55ful. Grants made to overseas prolects, predominantly in Malta but a150 In Th8i18nd, are made at the invitation of the founderonly. The Trustee5 have a presence in1hesetr￿0cOUntrie5, which enable5them to obtain a thorough workln8 knowledgeof iheor8aDisationsiheysupport.Thi515 Particularfy so Martin Laing Foundation A Registered Charity TRUSTEES, REPORT at S April 2023 Of St Paul's Anglitan Pro-cathedral im Valletta to which fvrther Instalments Df the grant of £￿,000, pledged toward5 the Re5toratiDn Appeal in the pyevlous year, weie released through the Chvrth of England's Diocese in Europe. Work oll the restoration of the C3thÈdral's Iconic tower and spire, iogetherwith thea550Clated w¢ik re4uiied lorimprovedaccessibilitytothe Cathedral Parvi5, has progrÈssed well and the Trustees have pledged 3 further grant of up t¢ £440.(M)D since the yeai end in order to 5UPP¢rt Its hève been drawn from ihe Found3rion'5 re5erve5 of unèxpended income, allowrbg thÈ normal £rèni-making programme to contiTrue unaffetted. The Trusteès also contlnued their 5upportforthe Richmond Foundation. whose work to ralse mental health awareness and gupport people experiencin8 mental health problems in Malla. both we and p05t pandemic, hès drawn The Foundation'5 grant-making programme is finarKed by income derived solelyfromthe Foundatlon'slnvestment portfolioand it5 holdingin E5kmulr Properties. The portfolk) is managed solely bythe Foundation's investment mana8er oll 4 di5crelionary basis-, performance is reviewed. and measured agalnst published indice5, on a regulaf basi5. Thtr objÈctive continues to be to achieve 3 bèlarbce beiween capital growth and in(omE yield by Investlng nd pr05pect5 forfuiure 8rowth. Achievements, Pertormance and Public Benefit During thè yèar to 5th Aprll 2013 the Foundation made charitablÉ 8rants totalling £566,76912022.- £548,8371, a small inirease on the prÈviOUS year were ￿leased. There was also significant investment in proletts In Norfolk. Grants were made towards the purchase and restorititsn of Sweet Briar Nlarshes In Norwich. creatin8 an urb4n naturÈ reseNe In the heart ol ihe city, and the pre5eryalion of the tounty's churches through the Norfolk Wildlife Trust aDd Norfolk Churches Trust, to Macmillan Cancer Care and the E•51 AnglianAirAmbulance tosupport health 5eTvice5 acr055 cttunty tbd. in pirti¢ular, to support the Norfolkcommunity Foundation and some of lis partners inthecreation ofa co.ordinatEd approath tothecostof living trlsis and food poverty In the county through thÈ Noulishing Norfolk initiative. The network of food hubsacrossthe County ofler people who are household items at reduced cost and the opportunlty to access other support 5eTvice5 to help address any Issues which have contributed to the $4tuation in whith they find themselves. All grants are listed, by category, in noto 7 to the accounts, With further detalls of the twelve 8rants of £10,000 and above provlded below. Cultural & Envlronmental SweetBriorAlarshE5.'A WildeTNonvychfo