THE LACES TRUST
FllYANCIAL STATEMEIYTS
Year Ended 5 APRIL 2024
Charity No: 289239

THE LACES TRUST
Report and Finaneial Statements for the year ended 5 April 2024
Contents
Page:
Adininislralive infonnation
Report of tlie trustees
Independent exainiiier's report
Sialemenl or rinancial activities
Balance sheet
Notes fom)ing part ofthe financial stateiiienls
Trustees
P F B Beesley
B M Mackenzi¢
H J Dellar
Principal Office
l The Sanctuary
Westminsier
London SWI P 3JT
Independcnt Exaininer
N¢lson Colaw FCA

THE LACES TRUST
Report of ¢he trustees for the year ended 5 Aprll 2024
The Truslce5 present their rep)rt along with the financial ststements of th¢ Charity for
the year ended 5 April 2024. The financial statemenls have been prepared in
accordance with the accounting policies set out on pa8¢ 8 and comply with the
charity's Trust Deed and applicable law.
Principal objectives of the Charlty
Th¢ principal objectives of the Laces Trusi are the 8dvancement of education and th¢
relief of sickness by promoting or providing for the benefit of the public study. research
and instruction in ethics and other philosophical disciplines as a part of or as related to
medicine and any subject ancillary thereto.
To fulfil these objectives the Trust has provided for the fiN Chair in Philosophy and
Psychiatry outside Europe at the University of Pretoria, Medical Sch(x)I which has now
been Successfully established. The Trusi also provided for a DPhil Scholarship in th¢
Faculty of Philosophy al the University of Oxford which has been successfully completed
having been held by a number of excelleni scholars. The Trustees have endowed jointly
with the University of Oxford a Fellowship in Philosophy of Mind. Psychiatry and
Neuroscience at St Catherine's Colle8e io be held jointly with a University Lecturer ship
in Philosophy of Mind. The Trusiees have also funded for two years 8 Post-Doctoral
Fellowship ai Si Catherine's College. Ihe Fellow working under ihe University Lecturer
in Philosophy of Mind. The Trustees have provided a grani io support ihe esthblishment
of a Collaborniing Centre for Values - based Practice in Health and Social Care at Si
C41herine's College. The Trustees hav¢ recently renewed and ext¢rtded this grani io
include a part-time Dire¢tor with administrative support and a small dis¢retion&ry fund
for the Director to use for open access publicaiions.
The Trusiees have continued to assisL by way of granL the International Network of
Philosophy and Psychiatry, the development of which ihe Trustees regard as very
imwrtanl for ethics and other philosophical disciplines.
OryanI￿l10n of the Char5ty
The Trust is governed by a Trnsl Deed of the 2nd April 1984 and is re8lStered with the
Charity Commission under number 289239.
Durirtg the year the following persons served on the Board of Trustees:
P F B Beesley
B M Mackenzie
H.J Dellar
Adviserg to the Charlty
Solicitor5
Ltt Bolton Monier- Williams
l The Sanctuary
Westminsier
London SWIP 3JT

THE LACES TRUST
Report of the trustees for the year ended S April 2024 {continued)
Accountants TC BSG Valentine Limited
Lynton House
7-12 Tavistock Square
London WCIH 9BQ
Financial Revie
Suiiiiiiayy ofil￿Oi11e and expendilEirc
The income and distribution account for the year shows a net surplus for the year of
£11,254 {2023'. £13,083). This brin85 the Mecumulated surplus carried fonvard to
£829.223 (2023.. £817.969).
Risk Management
The Trustees have examined the major strategic, busines5 and orkrational risks which th¢ charity faces
and confirn) that systems have been established lo ¢nable regular r¢ports to be produced so that such
risks are not continuously monitored and that appropriate steps can be tak¢n to lessen these risks.
Reserves poli
The Trustees. policy is to maintain their continuing level of support makin8 donations that they have
agreed. If income resources are insufficient to cover the donations then re¢ourse is made to the other
funds of the Trust. The Truste¢s do not consider that any minimum level of resources is required.
Plans for the future
The Trustees intend to continue making donations in a similar way to the receni past but retaining
flexibility as to the timing and scale of donations.
Trustees, responsibilities in relation to the financial 5tAtement$
The Trustees are responsible for preparing the Annual Report and the financial statements in
accordance with applicable law and United Kin8dom Generdlly Accepted A￿O￿ntIng Practice
(United Kingdom Accounting Standards).
Th¢ law applicable to charities in England and Wale5 requires th¢ Truslees to prepare financial
stat¢m¢nts for each finaiicial year which giv¢ a Irue and fair view of the state of affairs of the charity
and of the incoming resour¢es and application of resources of Ilie charity For that period. In preparing
these financial Stslemenls, lh¢ Tnjstees are required to..
select suitable accounting polici¢s and then apply them consistenily.
obsetve the methods and principles in the Charities SORP.
make judgments and eslimal¢s that are reasonable and prudent.
stat¢ wheiher applicable accounting standards have been followed. subject to any material
departures disclosed and explained in the financial stsl¢m¢nts' and

THE LACES TRUST
Report of the trustees for the year ended 5 April 2024 (continued)
prepare the financial statements on ihe going concern basis unle5S it is inappropriate to presume
that the charity will continue in business.
The Trustees are responsible for keeping adequate accouniing records that are sufficient to show and
explain th¢ charity's transactions. disclose iviih reasonable accuracy ai any time the financial posilion
of th¢ charity and enable them 10 ensure ihai ihe financial siaiements comply wilh th¢ Charities A¢t
2011. Ihe Charities {Account5 and Reports) Regulaiions 2008 and ihe provisions of lh¢ charity's
constitution. They are a150 responsible for safeguardinB ihe assets of the charity and hence for taking
reasonable steps for the prcvcntion and d¢te¢iion of fraud and oiher irregularilies.
Approved by th¢ Trusiees and signed on their behalf by:
LJaJ
H J DELLAR- TRUSTEE
Dale..
2¥. 1
2024

THE LACES TRUST
Independent Examiner's report year ended S A
ril 2024
Independent Examiner's report lo ihe trustees THE LACES TRUST
I report io il)c trustees on In), exai))ination of Ihe a¢coiiiils of ihe The IAc¢s Trust (Ihc TrLIS1) for the
}"'ear elided 5 Ai)ril ?024.
Responsibilities And basis of report
As the cliai'ii}I Iruslccs of Ihc TrLlSt you arc rcspoiisiblc for th¢ prcptsrAlion ofilic occouiils ill
HccordanLe i%'iil) Ilie ￿41111¥i17eIiIN ()r iliL (.'li(Irilie.i A('i 10 I l ('Ilie Acl,).
I report in rc8pc¢l of 111%. eyaminalinn oftlic Tnist"8 ILCI)untS Ciirried 0111 undei. s. 145 01. Ilic 2011 Act
aiid in cllrryii)g oui m}. ex￿)Illia1101l I hai'L. folloi¥eil all Il)c nppli¢able l)ii'eLIii)118 giv¢'i) b). Ilie C lilli'ili,
Cominis5ion under s. 14515)(bl ol'ihc Act.
Independent exAminers' $t*temonl
I have ci)iiii)leied my exaniinalii)ii. I c()nlirm Ihai no In411erio1 niatlers huve cui))e ti) iiiy ulleiilion in
¢oiiiiectlOi1 ivill) Ilic cxaminalion 8iviiig ii)e caiise to bclici'c Ilial in piiy ni4i¢riul rcsi)CLI:
I I ) AL¢ouiitiii¥ reLi)rd% iiere n<)1 kepi in respw*t of tlie Trusl a% required b)tr secti()11 1311 c)I'ihe Acl; or
{?) T]Ic hccounls do iiol ttecord with ihosc rccords or
(3) The accoiiiils do not coinply iviili il* applicable requi￿ Ineiils coiicerning ilie fonn aiid conleiil or
aLcouiits sel ()ui iii the ChJrilies (ALLOUIII.% and Repons) RL'bulJli()iis ?008 other iliaii 41ny requirement
Il)ai tlic aLLounis BIVC a 'lni¢ Al)d fAir i'icii, ii,liich is iioi a maiicr considcrcd r¢$ Ptsrt ofnii irtdepeiidcnl
I Iial'e no coiiccri)S iiiid l)ai'e cnine across iio oilier mall¢rs in coiineclion iviil) tlic ciil1111111711011 10
Ivliicli #iieniioi) sliould be drAii'n in iliis rcpon in ord¢r lu enÉiblL' a i)roper underslKindiii&J uf Llie
aecoiiiils lo bL reaclied.
Nelson Colg£o F.C.A
TC BSG Valentine Ltd
Lynton House
7-12 Tavislock Square
London WCI FI 9BQ
Date-.
18.10.
2024

THE LACES TRUST
Statement of Flnanclal Aetivitie5 for the year ended 5 April 2024
2023
INCOME
11.701
66.952
27J98
Profit on sale of invesknents
Donations (including gift aid)
Dividends and interest rec¢ived
36,515
2S,517
106,251
62,032
79,907
DONATIONS AND GRANTS
(35,398)
ADMif4JsfRATION cosrs
(7,175)
12)
(6,084)
Investment management fees
Bank charges and sundry expenses
Legal and Professional fees
(7,195)
(37)
(8.148)
(93.168)
(50.778)
13.083
EXCESS OF INCOME OVER EXPENDITURE
11.254
804,886
Surplus br(HJght forward
817,969
817,969
SURPLUS CARRIED FORWARD
829,223
All funds are unreslricted.
The notes on page 8 to 9 fomi part of these financial staiements.

THE LACES TRUST
Balance sheel as at S April 2024
2023
CAPITAL FUNDS
10
Capital Sums setiled
10
INCOME ACCOUNT
817,969
Undistributed Income
829,223
817,979
829,233
REPRESENTED BY
FIXED ASSETS.
Quoted inv¢slinents (at ¢os¢} {market value (£1, 113,245)
Brokers bank balances
789,421
11.465
817,162
10,372
800,886
827,534
CURRENT ASSETS
17,093
Bank balances
6,153
17,093
6,155
CURRENT LIABILITIES
Ac¢rued expenses
(4,4561
817,979
829,233
These accounts were approved by ihe Trustee5 On
and signed on their behalf by-"
Date
2024
H J DELLAR
The notes on page 8 to 9 fomi pan of these financial $tAteinenis

THE LACES TRUST
Notes forming part of tbe financial statements for the yeAr ended S April 2024
Principal Wccounting policies
(a)
Ba81s ofpreparntloD of accounts
The accounts have been prepared under the hisiorical cost convention with items recognised at
cost or transaction valu¢ unless otherwise stated in the relevant notes to these accounts. The
rinancial stat¢m¢n15 have b¢en Prepar￿ in accordance with th¢ Statement of Re¢ommend¢d
Practice. Accounling and Reporting by Charities prcparing Ih¢ir accounls in accordance with
the Financial Reporting Siandard applicable in the UK and Republic of Ircland (Charities SORP
{FRS102)) and with the requirements of the Charities Act 2011.
The Foundation constitutes a public benefil entity.
The Trusiees are satisfied thai ihe charity has sufficient commitments from donors lo continue
its acliviti¢s for ihe foreseeable future. Accordingly. the Trustees continue lo adopt the 8oin8
¢on¢ern basis in ihe preparation of ihe financial staiements.
(b)
Don#tio
Donations receivable are accounted for in the period in which the charity is entitled to reeeipt.
(c)
Invejtment ID¢om¢
Investment in¢ome 1$ a¢¢ounied for in the period in which the charity is enlitlcd to receipt.
(d)
Chorlt•ble Actlvltiej
Charitable aetivilies comprise all costs which are directly attributable to the obje¢is of the
charity. Donaiions payable are recognised when a constructive or legal obligation 10 the
recipient has been ¢Tealcd by the ¢harity.
(e)
Governance Costs
Governance costs comprisc the Cosls of staiuiory compliance, which consist of the cost5
associ8ted with the stalulory audit of the Tru51.

THE LACES TRUST
Notes forming part of tbe financial 5tstemellts for the year ¢nded 5 April 2024 {CODtinued)
Trustee Remuneration
No Trustee received any remuneration or was reimbursed for expenses during either year.
Goverllance Costs
2024
2023
Independent Examination fee
3.000
3,000
Creditors due within l y￿r
2024
2023
Accruals
4.456
2.397
Related Party trnnsa¢tioDs
There are no related party trnnsaclion to report for the current or wevious year.