Lady Downés Charlty
Annual Report and ft￿lpts and Payments Account
for the year ended 31 March 2024
Charlty number: 286577

Lady Downds Charity
Contents
Page
Legal and èdmlnistratlve Informatlon
Trustees Annual Rep)rt
2to4
Independent Examlnerfs Report
Recelpts and Payments A¢count
Statement of Assets and Liabilitie5
Notes to the Receipts and Payment Atcount

Lady Downe's Charfty
Legal and admlnlstratlve infonnatlon
Trustees and advlsers
Trustees
Appolnted by the Upton St Leonards Parlsh Councll:
MrKHArdron
Until January 20251
Mrs J Cloutlng
{From November 20221
Appolnted by the Parochlal Church Councll of the
Eccleslastlcal Parlsh of Upton St Leonards".
MrGHBuck
(Until June 20231
MrsDSCox
(Untll May 20261
Cwpted:
Mrs R M Ball
DrT G Harbottle
(Until May 20251
(Untll May 20241
Clerktothe trustees
Mr5 K E L Brooks
(From October 20211
tharlty number
286577
Admlnlstratlve offiee
29 Bondend Road
Upton St Leonards
Gloutester
GL4 8DX
Independent examlners
Randall & Payne LLP
Chargrove House
Shurdlngton
Cheltenham, Gloucestershlre
GL514GA
Bankers
Lloyds Bank plc
19 Eastgate Street
Gloucester
GLI INU
Solkltors
Tayntons Solicitors
8-12 Clarence street
Gloucester
GLI IDZ
Pa￿1

Lady Dobvne's Charfty
Trustees Annual Report
For the yèar ended 31 March 2024
structure, Governance and Management
The charlty Is run In accordance wlth the Scheme of 1982 whlch specffied that the body of trustees shall cons15t
of seven competent persons, being one ex officio. four nominative and two co-optative trustees. Appolntlng
bodies are made aware of the terms of office and the duties of their appolntees and co-optative trustees {who
are similarly informed of the above) are selected by the Board a5 the need arlses. Legal and administration
information Is set out on Page l of the Financial Ststements. Pages 24 Include extracts from the goveming
document, policy statements on publicityi grant makin& investments, reserve5 and actountin81 and the
Independent Examlner's Report.
Followlngfeedback from applicants. a separate application form wa5 deslgned 5peclflcally for student
applicants and uploaded onto the webslte. This seems to be worklng well and feedback has been positive.
Rlsk Management Pollcy
The charity maintains awareness of The charlty Governance Code for Smaller Charltles, recognlilng observance
of good risk management by
An acknowledgement of the trustees, responsibilities outlined in the Charity Commission publlcation CC3-
The Essential Trustee.
Maintalning an oveNtew of the rfsk Identlflcatton process.
Confirmation that major rlsks identlfled have been assessed and wlll continue to be reviewed,
Confirmation that control 5yStem5 have been established to manage those risks.
General Data Protecllon Regulations
The charity ha5 in place, and will keep under review, policies for the retentlon and safe destructlon of all
Information Ilncludlng personal datal whlth It holds In paper and elertronic form. The charivs retention
)licy shall confirm the periad for which infonnation lincluding personal datal shall be retained.
Objeetfves and Artlvltles
The charlty's obleciives are prlmarlly to provlde grant aid to residents of the parish of Upton St Leonards who
may find themsehres in conditlons of need, hardship or dlstress, to provlde speclal beneflts for Upton St
Leonards Church of England Primary School. and secondarlly to provlde beneffts to other schools attended by
children resident within the parish; to provide financial a55iStance to advance the education of such chlldren
under the age of 25, and to provide assistance to other charitable organisations withln the parish. The
trustees of the eharlty seek to comply wlth the temis and the splrit of the Trust Deed. In thls connection
current concepts of need and hardship tend to be more liberal than those applicable when the Deed wa5
reated and the trustee5 tske thls into account wh115t a150 havlng regard to advlee 8lven from tlme to tlme
by the Charity Commission In reachlng declslons. The admlnlstratlon of the Charlty, Includlng a degree of
rinancial management, calls for significant skill and effort and it is the policy of the tru5tee5 to pay Bn
approprlate fee to Its Clerk to ensure that the work Is earrled out efflclently. The trustees have referred to the
Charity Commission's 8uidance on the preparation of the flnancial statements and Conflrm that they have
complled with theSr duty In Sectlon 4 of the Charitie5 Act 2011 to have due regard to public benefit guidance
published by the Charity Commission for England & Wales, Relief of poverty and access to educational awards
are available to all irrespective of age, ethnicity, sexual orlentation or rellglon but are subject to geographlcal
requlrements as ststed in the charlvs goveming document.
Athievements and Perfomiance
During the past year, theTrust delivered almost £27,IX(I In 15 awards, down from the previous year1£25.700
in 17 awards in the previous yearl. The Trust was pleased to grant £IO.000 to USL Primary School for addltional
security as well as £4,8CQ to CIK)pers Edge khool to help fund theiryr 6 residential trlp to London.
In addltlon. £1,500 was glven to USL football club5 to help with equipment costs, the junior teams had all
disbanded during Covid and this was to help get them back in plate again. £2,500 was 8lven to hardship
P•ge 3

Lady Oownds Charlty
Trustees Annual Report {contlnuedl
For the year ended 31 March 2024
requests, £6,000 went to students and £500 each to the village show and village brownie pack5 to support their
residential trip in September. The Trustees are graieful to Keith Ardron for supervising and managing The
Trusts investments.
Grants Poli
The trustees seek to distribute as nearly as can be achieved the available annual income,. this, of course, being
dependent on the number and type of applications made. They do not intend, in any foreseeable situation, to
distribute any part of the capital fund. Grants are made after a detailed ex3mination of each applicant's needs
and resourtes. but a degree of uniformity and con51Stency is applied where there are common featu￿$.
Where appropriate, interviews are held or pastoral visits made by the trustees. Strict confidentiality is
maintained and financial reports are in a form which does not breach this rule.
We are always conscious of the need to make the public within our area aware of our objectives. In addition to
contacting medical, professional and village organisations, we use the press and have our own website
www.lad downe.or
through which applications can be mède. From time to time, we distribute a leaflet
outlining the awards we can make to households in our area and we have placed articles about the Trust in USL
Life magazine. In general terms, our scheme requires US to help residents who are in hardship or need in an
appropriate way and it's here where it tan be difficult to make potential recipients aware of the help we may
be able to give and we often have to rely on friends who can encourage people to apply.
A second major requirement of the scheme is to support the village school and others in the area with items
not normally provided by the Local Education Authority. We can give Erants to younB people under the age of
25 to help their education and training with computer equipment, books and travel. In addition. we have the
Lady Downe Award which can be up to £3,000 fur specific educational project5 for young people. Finally, we
can help charitable organisations in the parish that have objectives relevant to OL¢r scheme. It should be noted
that Okjr rules specify applicants must currently live in our area, or have lived within our area in the past for at
least 10 years, before becoming eligible for an award. In thi5 context the area is defined as the village of Upton
St Leonards as it existed in 1966 which includes parts of Abbeydale, Abbeymead and Coopers Edge,. qualifying
streets are listed on our website.
Financial Review
Income from investments has been subdued during much of the year but picked up towards the end of the
period in line with financial markets generally. Investment income for 2024 was £30,73912023 - £30,401) and
total payments were £30,49812023 - £27,069>. The value of the portfolio has increased by £92,80612023-
Increase of £40,2991 increasing the endowrnent fund to £1.087.01512023 - £997,5291 and the unrestricted
fund to £55,95212023 - £52,632).
Investment policv
Towards the end of 2017 the Trustees moved most of Its portfolio to the Charities Official Investment Fund
managed by CCIA, resulting in a small10ss both in capital value and in income at the time, which picked up
subsequently. The twin aims of the Trustee5 are to maintain and if possible, enhance the capital value of the
Trust Fund, whilst achieving, a5 far as is possible, an increased flow of income generated by the portfolio, at
least in line with inflation over the longer term Idefined as over 10 years). The Trustees are aware of the
relaxation of former restrictions on the use of endowment capital but will seek to maintain these funds at a
sufficient level to generate enough income to fund the Charity's objectives.
Page 3

La(ty Downe'5 Charity
Trustees Annual Report (contlnuedl
For the year ended 31 March 2024
The Endowment Fund now stands at £1,087,015, owing to good management of the investment portfollo. It ts
the intention of the trustee5 to retain a major part of these reseNe5 in order to malntèln Income levels. but
they are aware of the Total Return Pollcy under whlch they could, if necessaryi better utllise the income and
capital from some of thls endowment. A significant sym, £55,952 cash funds, has also accrued to the
unrestricted fund- the Trustees wish to retain a worklng balance of approximately this size in order to cover at
least one yearfs total grants and expendlture. The availability of grants Is publlclsed by regular and targeted
advertislng wlthin the area covered by the charlty and through contacts wlth a wlde range of local
organisations whlch Involve almost every facet of communlty life, but it remain5 diffi¢ult to flnd indlvlduals
wlthin the area who would be eliglble for the benefits on offer. New buildlng on a large scale within the
paylsh. including a new school, has resulted in applications from relatlvely new resldents there as wÈll as from
the school Itself. The trustees will contlnue to apply the prlnclples as outllned above In meetlng the challenges
that may be pla￿d before them.
Trustees. Responslbllltles
The trustees are responsible for keeping propef accounting records whSch disclose with reasonable accuracy at
any tlme the financial posltlon of the charity and to enable them to ensure that the flnancial statements
comply with the Charities Act 2011. They are a150 responslble for safeguarding the asset5 of the charlty and
hence for takSn8 reasonable Steps for the p￿￿entIon and detectlon of fraud and other iffegularftles.
Independent Examlners
The Trustees recommend that Randall & Payne LLP remain in Offi￿ until the next Annual General Meeting.
Th15 report was approved by the Trustees on ..I.4¥.,1,￿..,l..￿...... and slgned on theSr behalf by
DrT. G. Harbottle
Chaitinan
K H Ardron
Trustee
Page 4

Independent knmlnerfs Report to the Trustees of Lady Downds Chartty
I report to the charlty trustees on my examlnatlon of the accounts of the Charity for the year ended 31 March
2024 which are set out on pages 6 to 8.
Responslbllltles and basls of report
As the charIt￿5 tn15tees you are responslble for the preparation of the accounts In accordance with the
requlrements of the Charltles Act 20111'the ACVI.
I report in respect of my examination of the charity'5 accounts carried out under sectlon 145 of the ALt and in
carrylng out my examlnatlon I have followed all the appllcable Dlrections given by the Charity Commission under
sertlon 14515llbl of the ACL
Independent oxamlnw's statement
I have completed my examination. l confirm that no materlal matters have come to my attentlon In connertlon
wlth the examinatlon 8lvln8 me cause to belleve that in any material respect:
accountlng records were not kept In respect of the charfty as required by section 130 of the Act: or
the accounts do not accord with those records
I have no concerns and have come across no other matter5 in connection wlth the examinatlon to which
attention should be drawn In this report In orderto enable a proper undèrstandingof the Bccountsto be reached.
Ryan Moore CA
For and behalf of Randall & Payne LLP
Chartered Accountants & Independent Examiners
Chargrove House
Shurdlngton Road
Cheltenham
GL514GA
Date:
8 202
Page S

lady Downe's Charfty
Receipts and Payments Account
For the y￿r end¢d 51 Ma￿h 2024
2024
un￿St￿leted
lunds
2023
Unr05tflrted
funds
Note
Recelpts
Investment income
Safe Custody refund
30,739
30,401
Total Recelpts
30,739
30,441
Payments
Grant to Upton St Leonards Church
of England Primarysehool
Other grants
Clerk's fee
Annual offlts allowance and
expenses
Postage. statlonery and admin costs
Website costs
Trustees indemnlty insurance
Attountancy and independent
examlnatlon fees
10,000
16,745
10,000
13,620
I,￿0
1.277
1.402
223
248
144
348
780
Totsl Payments
30A99
27.069
Net reedptsllpaymentsl
240
3,372
Bank and ¢ash balan￿5 at 31 March
202312022
31.138
31.138
Bank balances at 31 March 2024
31A79
31.879
Page 6

Lady Downds Charlty
Statement of Assets and Liabilltles
For the year ended 31 March 2024
Cash funds
Unre5trlcted funds
2024
2023
Current account
31.879
31,138
Totsl cash funds
31￿79
31.138
Other monetary assets
Z024
2023
Investment assets
Unrestrfcted funds
2024
2023
UK equities
COIF Charlty Funds
17,671
38281
17,528
35,11)4
Markd value at 31 Marth 2024
55,952
52,632
Endowmentfunds
2023
UK equlties
COIF Charity Funds
9,959
1.077,056
9,879
987,650
Market value at 31 March 2024
1,087,015
997,529
Unrestrlcted funds
2024
Llabllltles
2023
Accountancy and Independent Èxamlnatlon fees
Website costs
780
173
953
The above Recelpts and Payments Account was approved by the trustees on .Iw.II.rf.24p and slgned on their
behalf by
Dr T Harbottle
Chalrman
K H Ardron
Trustee
Page 7

Lady l)own¥s Charlty
Notes to the Recelpts and Payments A¢count
Forthe year ended 31 March 2024
Other grants
Unre5tr1cted funds
2024
2023
Student award
Student grant5 Ibooks and equipment) - 6 cases (2023 - 9)
Hardship/disabillty grants- 2 cases {2023- 3)
Upton St Leonard's Brownies
Upton 5t Leonard's Childrens Football Teams- funding for
new equipment
Upton St Leonard's Show Children's Classes
Abbeydale Communlty Assoclation- new notlceboard
Coopers Edge School- Year 6 Residential Trlp
6,950
2,070
2,517
1,51X)
500
578
4￿lJ0
500
4.100
16,Z45
13,620
Trt￿tees emoluments and related paitytransactlons
No remuneratlon or expenses was paid or was due to be pald to any trustee durlng the year.
There were no related party transartions in the year.
Endowment fund
There hès been no movemont on the endowment fund ex￿pt for the revaluation of the investment assets.
Pase 8