2023-06-30-accounts

MRS F B LAURENCE'S CHARITABLE TRUST ANNUAL REPORT AND ACCOUNTS 30 JUNE2023 PA YNE HICKS BEACH LLP Solicilors 10 New Square Linooln's Inn London WC2A 3QG

MRS F B LAURENCE'S CHARITABLE TRUST CONTENTS Adrninistrative Informallon about th8 charity, it5 trustees and advisers Trustees, R8POrt Independent Examlner's Report 10 Statement of Financlal A¢tiviti8S Comparativ8 Slalemenl of Financial Activities 12 Balanc6 Sheet 13-16 Prlnclpal Accounting Policies 17-23 Notes to the Accounts endix 24 Grants payable

Pa MRS F B LALIRENCE CHARITABLE TRUST ADMINISTRATIVE INFORMATION ABOUT THE CHARITY ITS TRUSTEES AND ADVISERS TRUSTEES Caroline Esther Mary Fry Payne Hicks Beach Trust Corporation Limited William George Harnilton PRINCIPAL ADDRESS 10 New Square Lincoln's Inn London WC2A 3QG EMAIL ADD TheMrsF8Laur8nceChaiil hb.co.u CHARITY REGISTRATION NO 296548 INDEPENDENT EXAMINER Paul Davis FCA Bright Grahame Murray Emperorfs Gate 114a Cromwell Road Kensinglon London SW7 4AG NVE TMENT MANAGERS Rufler LLP 80 Viclorla street London SW1E 5JL JM Finn 25 Copthall Avenue London EC2R 7AH ANKERS CAF Bank Lirniled 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ SOLICITORS AN TRATORS Payne Hicks Beach LLP 10 New Square Lincoln's Inn London WC2A 3QG

MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES, REPORT. 30 JUNE 2023 The trustees present their slalutory report together with the account ol th8 Mrs F B Laurenc8 Charitable Twst lor the year ended 30 Julle 2023. The accounts have been prepared in accordan￿ with the acwunting policies set out on pages 13 to 16 01 the allached account5 and comply with the charity's trust deed, applicable law5. applicable United Kingdom accounting slandards (United Kingdom Generally Aceepted Accounting Praoticel, and Accounting and Reporting by Charities.. Stalement of Recotnrnended Practice applicable to charities prgp8ring their accounts in accordance with the Financial Reportillg Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021. second edition IOctob8r 20191. GOVERNANCE, STRUCTURE AND MANAGEMENT Gov8rnance The Mrs F 8 Laurence's Charitable Trust is governed by a tIU5t deed dated 24th February 1976. The unincorporated charity Is reo15tered under the Charities Act 2011, Charily Reg15tralion Number 2g6548. The statutory power ol appointment of new trustees lies with the trust88S thernselves. Th8 naTnes ol the trustees who setved during the year are set out as part ol the adminislrativg information on pag8 1 of this Annual Report and Accounts. Brief biographical details ol those in office al 30 June 2023 are given below.. Carollna Esther Mary Fry Caroline Fry, daughter of Michael Tooth lone of the previous tru$tee51, helped her father with the administration ol the Mrs. F.B. Laurence Charitable Trust lor 15 years before taking over Irorn hirn as a Iruslee in 2008. Payne Hicks Beach Trust Corporation Limitod Payne Hicks Beach Corporation Lirnited I PHBTCL I was appointed on the 28 November 2014. PHBTCL is a trust corporation within the meaning ol the Trustee Act 1925. All Directors of the Irusl corporatioll ar8 practising solicitors and partners of Payne Hicks Beach LLP. A full list ol the company's directors are available from ils registered ollice. Iwllllaml George Hamilton George qualified as a solicitor in 1988 and then worked for Lazard Brothers for twelve ye8rs. He left in 2000 to work for an investment fund before joining a fund of hedge fullds In 2005. Since 2008 he has invested In private equity and r881 estate. primarily in South East Asia. He is a director ol two US based hedge funds. Cannell Capital and SM Investors. He is also a director of a UK based charity which funds education projects in Myanmar. On agreeing to their appointment, the trustees are thoroughly briefed by thelr co-trustees on the history of the trust, the day-io-day management, the re5ponsibililies ol the truslees, the current objectives and future plans.

Pa MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES. REPORT- 30 JUNE 2023 GOVERNANCE, STRUCTURE AND MANAGEMENT (Continued Trustee8' r85ponsibilitias statement The Iru5tee5 are responsible lor preparing the Irustee5' report and accounts in accordance with applicable law and United K￿ngdoM Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charily law in England and Wales requires the truste8s lo prepare accounts lor each financial year which give a true and lair view of the State of affairs of the ch8rily at the year end and ol its incorne and expenditu￿ during the year. In preparing accounts, giving a true and fair view, the trustees are required to.. S818Ct suitable aecounling policies and then apply them consistently.. Observe the methods and principles in Accounting and Rgporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS 1021.. Make judgetnents and estimates that are reasonable and prudont., state whether applicable United Kingdom Accounting Slandaid5 have been lollowgd, subject to any rnalerial departu￿$ dis¢los8d 8nd explained in the accounts., and Prepar8 the accounts on the going concern basis unless it is inappropriate lo presum8 that the charity will continue to operate. The trustees are responsible lor keeping proper accounting records which disclose with reasonable accuracy at any tirne the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011. applicable Charity (Accounts and Reports) Regulations and the provisions ol the Iru5t deed. They are also responsible lor salegLtarding the assets of the charity and hence lor taking reasonable steps for the prevention and detection ol fraud and other irregLJlarities. structure and management reporting The Iruslees aro ullirnalely responsible lor the policies, activities and assets ol the charity. They ffleet twice a year to review the developments with regard to the charity, its grant giving activities and rnake any important decisions. When ne￿SSarY, the trustees seek advice and support from the ¢haritls professional advisors including investment managers, solicitors and ac¢ountants. The trustees deal directly with the process ol grant applications and Payne Hicks Beach LLP adrninislers payrnents and keeps the books and records of the charity. Al their m8etings the trustees review the inveslmenl performance, and separate meetings are held with the investment managers to update the trustees in detail on the portfolio. The trustees r8view the proposals for grants to be made and approve Such grants as Ihgy collsider approprial8.

Pa MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES. REPORT-30 JUNE 2023 GOVERNANCE. STRUCTURE AND MANAGEMENT Icontlnuedl Risk Management In line with the reouiremenl lor charity trustees lo undertake a risk assessment exercise an¢J report on the same in their annual report, the trustees havo looked at the risks the Mrs. F.B. Laurence Charitable Trust currently face5 and have ￿vieWed the measuros in place, 01 needing io be put in place. to deal wilh them. The trustees have identified three main are88 where risks may occur.. - Governance Operatiorial Financial Governance look5 al the conlinuity ol trusteeship. the ski115 and background ol the trustees and the policies of regular meetings of the Iruslees to revigw their aims and aclivilies. Operational looks al the risk inherent in th8 delegation ol statutory and legal roquirernents ol the chafily, ils asset managernent and Se¢￿taria1 lun¢lions and deleg81ion ol certain of those function5. and its grant giving 8¢1ivities. Flnancial risks includ8 those inherent in delegation of inve5tfflent managernent and custody to an independent investment rnanager, the financial record keeping ol the charity, its investment policy, audit and review procedures. Having ass&ssed the major risks to which the charity is exposed, in particular those relating to its investments and its finances, the trustees believg that by ensuring controls exist over key financial systems incorporating the systems and controls implermented by the inves1rn8nt managers and Payne Hicks Beach LLP. and by delegating the investtnent management function to investment Tnanagers, subject to regular monitoring, including periodic ￿vIewS ol perlorrnance against benchmarks. they have established ellective systerns lo rnitigate those risks. The key iisks laced by the charity, as identified by Ihe Iruslees, ar8 described below together with the principal ways in which they are mitioated. The charity's principal a85et COTnprises listed inveslrn8nts, the value of which is dependent on movements in UK and World stock markets. Th8 investments are managed by reputable investment managers who adher8 to a policy ag￿ed by the trustees. The trustees meet al least once a year with the investment managers and the manager's p8rtorrnance and that ol the portfolio are monitored. The inveslmenl strategy is asse55ed regularly to ensure il retnains appropriate to the charity's neods- both now and in the luturo. The charity carries out ils objectives by providing grants to in51itutions that arg also UK registered charities, the objects of which are consistent wilh the charity's criteria. In s81ecting r8cipienls lor grants, therefore, the charity assesses either th8 object5 of the recipient charity or parti¢ular project5 being undertaken, or intended lo be undertaken, by the recipient charity. In making this selection, the trustees consider the benefit to the public of the recipient's objects or ol the particular project to be funded. Genorally, howevei, the charity d08s not make the lullilrnent ol particular projects a condition ol a grant. Accordingly, there is a risk that. in case5 where a grant is provided by the charity for a particular project, it may in fact be expended by the recipignt Ljpon a project or purposes lor the public benefit ol which the trustees have not assessed.

MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES, REPORT- 30 JUNE 2023 GOVERNANCE, STRUCTURE AND MANAGEMENT (Continued) Whllsl the Iruslees are mindful that is their own obligation to ensure that the charity benefits the public genèrally, they lake assuranc8 that, in such cases as may occur where a recipient doe5 not spend its grant on a project which has been considered by the trusl88S, the grant recipients Ihemselve5 (being registered chariliesl are regulated lo ensure that they operate for the benefit of th8 public. The risk a55essment is kept under ￿gUlar review and is fully reassessed 8v8ry three years. ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Activit18s and speciflc oblectlves The staled obje¢l of the charily in its trust document is lo provide for the benefit ol the Royal National Lifeboat Institution. King George'5 Fund lor Sailors (now known as Seafarers UK), Stock Exchange Benevolent Fund, Royal Air Force Benevolent Fund and such other charitabl8 obj8Ct or institution as the trustees in their ab501ute discretion think lil. The Iruslees operate a grant giving pollcy. providing funds for such charitable obj8¢1 or institution as the Iruslees think fit. The trustees, preferen￿ is lo make grants for the care and Improvements of conditions experienced by disadvalllaged members ol society both within the United Kingdom and overseas for whom the United Kingdom owes a duly of care. The trustees are willing to support srnall tsrganisations and those that, by the nature of their work, find il difficult to attract funding. Applications lo the eharily lor donations will only be considered if received in wriling from Charity Commission or Office of the Scollish Charity Regulator IOSCRI recognised UK Charities, 8ccornpanied by a set ol the latest report and aceounts. The trustees do not make donations lo individuals. Applications should be e-mailed to.. TheMrsF8LaurenceCharit hb.co.uk The trustees aim to make grants ol al least £80.000 per annum in accordance wilh the guidelines set out in th8 grant givlng policy above. Objectives and activitles for the public benefit The tru$1888 confirm that they have relerrod to the guidance contain8d in the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning lulure activitie5 and setting the grant making policy for the year. The charity cariie5 out these objectives by provlding grants to instilutiOn5 that are also UK registered charities, whose objects cornply with the charity's criteri8. Whi15t the trustees are mindful ol their own obligation to ensure that Ihg charity benefits the publi¢ generally, they take some assurance from the fact that recipients ol grants are themselves regulated to ensure that they operate for the public benefit.

MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES, REPORT. 30 JUNE 2023 ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Icontlnuedl Potenti81 recipients ol grants are Identified by the Iruste8s individually in areas where il is perceived that public benefit will be achieved. The opportunity to benefit 15 not re5tiicled In ariy way except that grants are restri¢led to bodies registered in the UK, not I88St to facilitate the Iiustees being able lo follow up on the efficacy ol the grants made. In all other respects grants are nol lirnited in any way except that the recipients should have a charitable need. The trustees therefore consider that the Trust's activities are for the benefit ol the public generally, Kgy mafiagèmant The Iruslees comprise the key management personnel of the charity in charge ol directing and controlling, running and operating the charity on a day to day basis. All trustees give of their tirTre I￿tlY and no Iruslee receiv¢d any remuneralion in the year. 08lails ol Iruslees, expenses and remuneration and any related party tr8nsactions are disclosed in note 4 to the accounts. As noted above. the day lo day managemenl of the charily's aclivilies. and the irnplementalion ol policies, is delegated to the Private Client Department ol Payne Hicks B8a¢h LLP. Invèstment pollcy The charity h35 a porilolio ol inveslrnents wth a market value as at 30 JLJlle 2023 of £2,848,282 12022- £2,841,535). There are no reslriclions on the Charitls power to invest. The investTnent strategy is agreed between the trustees and the investment manager5. and is regularly reviewed. This is the subject of a policy statement which has been completed by the Iruslees and forms integral part ol the agreement with th8 investment tnanager to provide investment management serwces. The over811 investment policy is lo m8xirMise return by investment in a balanced portfolio comprised of equities, fixed interest, and poo18d fund5 and which should be invested within a rnedium risk profile. The performance will be revlewed by reference to the bespoke benchmarks, which are as follows.. JM Finn MSCI PIMFA Balanced Rulfer LLP CPI + 3Ya over the long terrn. The investment managers altend tnost lomal meetings of the trustees lo provid8 8 report on the performance ol the portrolio, comparison ag8lnSt the benchmark and genoral rrlarket issues. ACHIEVEMENTS AND PERFORMANCE Review of actlvltles Total inveslrrenl income received in the y88r arnounts to £67,511. which equates to a yield ol 2.4°k (based on the Tnarket valuation ol the investments assets al the year endl. The trustees awarded grants lolalling £65.500 during the year12022- £68.5001 in accorllance with the charity's grant giving policy sel out above. A detailed list ol all grants made in the year is included in the Appendix on page 24.

Pa MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEE ' REPORT- 30 JUNE 2023 ACHIEVEMENTS AND PERFORMANCE Icontinugdl The trustees feel that their objectives have been adequately mgt this year. However. the trustees are awar8 that there are external factors, which could affect the achievements of their objectlVO$ 88 a significant part ol the charitys assets ar8 made up of investments and cash. the result ol which are dependent on the general performance of the UK and overseas stock rnarkets. As noted above under risk rnanagement, in order to minimise this, the Iruslees have set prudent investment policies and place r8li8n¢e on the investment managers lo monitor and advise on tho necess8ry inve5ttnenl changes and suitable asset allocation. Investment performance During the year the charily's investment assets were allecled by the ongoing volatility in financial markets. The result of this wa5 an income yield of 2.4Yo Ib8sed on the valuation ol investment assets at the year endl and a capital increase of 0.53%. In view of the current vo5atility in financial markets, the trustees are satisfied with the performance of the investments and remain satisfi8d that their investment objectives will be rnet over the ediurn term. FINANCIAL REVIEW Resulls for the year A summary of the year's results can be found on page 10 of this report and accounts. During the year ended 30 June 2023. total income amounted to £67,511 12022- £44,395), being income arising from the charills inveslments and cash detx)sils, The trustees agreed grants tolalling £65,50012022- £68,500). After aceounting for a £264 adjustment to the brought loNard creditors, inve5tfflenl management costs of £12,926 12022 £14,219), grant administration costs of £29,29312022- 238,0651 and govemance costs of £4,21612022- £9,614), this broughl total expenditure to £111.67112022 £130.3981. There were net investment g8ins during the year of £15,00112022 - losses and currency Ioss88 01 £76,403). This results in a net decrease in funds during the year of £29,15912022 decrease- E162,4061. ReseTV8S pollcy and financial p051tion Reserves policy The trustees, policy is lo operate tsn the basis of being able to continue to generate sufficient incorne to use towards meeting their charitable objects and lo accord with their principal aims. The trustees are ol the opinion that the Designated Fund remains sufficient to enable them lo continue this ongoing objective.

Pa MRS F B LAURENCE'S CHARITABLE TRUST TRUSTEES. REPORT- 30 JUNE 2023 FINANCIAL REVIEW Iconlinuedl Financial position The balance sheel shows total fund5 01 £2,819,56112022- £2,848,720). The unrestricted funds cotnprise amounts which ultimately are free reserves but which are held by the Iruslees lor investrrenl so as lo ensure the continued generation of income in lulure periods, thereby helping lo safeguard the long t8rm existence ol the charity and the achievetnent ol ils objectives. The size ol the unreslricled funds sustains and supports the levels ol donations which the trustees wish to maintain and enhance over lime. Future plans The trustees do not anticipate any Significant changes lo the charity or activities over the next two to five years. It is their intention to meet the following objectives.. To ensuie the investment performance achieves the criteria set by th8m so that thew are sufficient fund5 to meet their gr8nt giving policies. To continue lo make grants. Sign8d on behalf ol the Iruslees-. Trustee Trustee Trustee Approved by the trustees on.. 30 April .2024

Page 9

MRS F B LAURENCE'S CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT 30 JUNE 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

MRS F B LAURENCE'S CHARITABLE TRUST

I report in respect of my examination of the accounts of The Mrs F B Laurence Charitable Trust ('the Charity') for the year ended 30 June 2023.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (’the 2011 Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with General Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving my cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the trust as required by Section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and I understand that this has been done in order for financial statements to provide a true and fair view in accordance with General Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have no concerns and have come across no other matters in connection with[the] examination[to][ which] attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Paul Davis FCA Independent Examiner Bright Grahame Murray Emperor's Gate 114a Cromwell Road Kensington London SW7 4AG

Dated: 30 April 2024

e10 MRS F B LAURENCE'S CHARITABLE TRUST ST ENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023 Unrestrlcled Fund¥ General Deslgnalqd Fund Fund Total Totsl INCOME FROM.. 44,382 13 Invesimenl Income Bank Inlprfjsl Book Cost Adluslmenl lo Quoled Invesifflenls 67.D84 327 67.084 327 100 44.3 TOTAL INCOME 67,411 1LN) 67,511 EXPENDITURE ON.. R815Sng lunds InvesltDofil m¥nagemenl c0515 Adlusimenl lo br￿gh1 forward credllor 14,219 12.926 12.926 12641 12641 Promoting and @nhanclng charilabl8 WDtk 116.179 99.009 99,009 120.298 TOTAL EXPEMDITURE 111,935 12641 NET EXPENDITURE BEFORE INVESTMENT GAINS 186,0031 144,5241 364 144,1601 Inveslmenls gains.. Realise UDre81ised Cuirency h)ss 9,129 185,4031 7,501 7,500 7,501 7.500 176,4031 NBI galn$lllossesl on inveslmenls 15,001 15,￿1 1162,4061 NET INCOME IEXPENDITUREI 144,5241 15,365 129.1591 Transfer between funds 10 50,996 150,9g61 1162,4061 NET MOVEMENT IN FUNDS 6,472 135,6311 129.1591 RECONCILIATION OF FUNDS Toia funds brought lorwaTd ai 1 July 2022 3.011,126 2.853.871 2.848.720 Total funds Ca￿led 10Th￿r al 30 ju[￿ 2023 2.848.720 1.321 2.818.240 2,819,561 All recognised gains and losstrs are Included In the above slalemenl of fin8ncial aclIv￿les. All of Ihe ¢harily¥ activit￿5 dedved from conllnuing 0￿ratiOnS durlrKJ 8bov8 fin3n¢L81 y8ars. A full Comparalive 518lernent of financkl actlvilieg is shown on page 11.

e 11 MRS F B LAURENCE'S CHARITABLE TRUS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022 Unrestrlct8d Funds General Destignat8d FuJYd Fund Total 2022 Notes INCOME FROM.. Investments Inweslmenl income Interest receivabl& 44,382 73 44,382 13 TOTAL INCOME 44,395 44,395 EXPENDITURE ON.. Raising funds Inve8lmenl m8nagement costs 14.219 14.219 Charilable 8Glivilies Promoting and 8nhanGiJJg charitable work 11&179 t16.179 TOTAL EXPENDITURE 130,398 t30,398 NET EXPENDITURE 8EFORE INVESTMENT GAINS (86,003) (86,003) Investmenls losses.. Realised Unrealised Currency loss 9, 129 (85,403) (Y29) 9,729 (85,4Q3J (129) NET (EXPENDITURE) (86,003) (76.403) (162,406? Transler belween fvnds io 56,358 (56,358) NET MOVEMENT IN FUNDS (29,645) (132, 761) (162,406) RECONCILIA TION OF FUNDS Total funcls broughl fonw8rd at 1 July 2021 24,494 2.986.632 3,011, 126 Total funds carried forward al 30 June 2022 (5, 151) 2,853,871 2,848, T20 All recognised gains and Ioss85 8r& Included in th8 above statement dfinancial aclivilies. All ollhe charilys acliwli8s dsrived from continuing oporalions during the above fin8nelal year.

e12 MRS F B LAURENCE'S CHARITABLE TRUST BALANCE SHEET AS AT30 JUNE 2023 2022 Not85 2023 FIXED ASSETS 2,841,535 Li5t8d Inv8Stments 2,848,282 CURRENT ASSETS 178 50.912 Debtors Cash at bank and in hand 22,555 51,090 Total currgnt assets 22.562 LIABILITIES. Cr8ditor5'. Amounts lalllng due within ong year 143,9051 151,2831 7.185 NET CURRENT ASSETS 128,7211 2,848.720 NET ASSETS 2,819,561 TOTAL FUNDS OF THE CHARITY 15,1511 G8neral Fund 1,321 2.853,871 Deslgnated Fund 10 2,818,240 2,848,720 TOTAL 2,819,561 Approved by the trustges.. lee Trustee Trustee Dat& of Approval-. 30 April . 2024

P8 913 MRS F B LAURENCE'S CHARITABLE TRUST PRINCIPAL ACCOUNTING POLICIES- 30 JUNE 2023 Charity Informatlon Mrs F B Laurence's Charitable Trust is an unincorporated charity registared in England and Wales Icharily number 2965481. The charity is govèrned by a Trust Deed dated 24 February 1976. The registered officfy is 10 New Square. Lincoln's Inn, London. WC2A 3QG. The principal accounting policies adopted, judgements and key sources of eslimalion un¢ertainty in the preparation of the accounts ar8 laid out below. Basls of preparation These accounts have baèn prepared lor the year lo 30 June 2023 with comparallvg information presented in respect to the year lo 30 June 2022. The accounts have b6&n prepared under the hislori¢al cosl convention with it8ms recognised al osl or transaction value unless Othe￿Se staled in the relevant 8ccounling policies below or the notes of these accounts. The 8¢¢ounts have been prepared in accordance with Accounting and Reporting by Charitlès.. Stalement of Recommgnded Reporting Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandaid applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 1021 second edition (October 20191, th8 Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 anLI the ch8riliÉs Act 2011. The ¢harily conslilules a public benefit enlily as defined by FRS 102. The accounts are presenled in sterling and are rounded lo the neargst pound. Criti¢al accountlng estimates and ar&as of judgement Estimates used in the accounts are subj8¢1 lo a degree of uncertainty and volalilily. As set out in these accounting policies under'going concern. the Iruslees ¢onsider it is appropriatg for the charity lo continue to prepare ils accounts on the going concern basis. Preparation ol the a¢coLJnts requires the trust6aS to make significant judgements and estimates. The items in the occotjnls where these judggmenls and eslimales h8ve been made include.. eslimating the liability for multi-year grant commitmtrnts. eslimaling future income and expenditure flows for the purpos8 of assessing going concern (see belowl. Assessment of going ¢on¢•rn The Irusleos have assessed whether thè Ljse ol the going concern assurllplion is appropriate in preparing these accounts. The trustees have m8de this assessment in respect to a period of one year from the date of approval Of these accounts.

Pa e14 MRS F B LAURENCE'S CHARITABLE TRUST PRINCIPAL ACCOUNTING POLICIES. 30 JUNE 2023 Charity Informatlon Assessment of going concern Icontinuedl Tho truslees of the charity have conclLJded that there are no material uncertainties relatèd to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are ol the opinion that the charity will have 5ulli¢lent resources lo meet its liabilities as they fall due and therefore, there are no concerns regarding the the charity's abllity to continue as a going concern. The most signilicanl areas ol judgement that allect items in the account are detailed above. With regards lo the next accounting period, the year ending 30 June 2024, the most significant areas that affecl ihe carrwng value of the assels held by the charity arè the level of investment return and the performance ol the investment markets (see the inveslmenl policy and the iisk managernenl sections of the Iruslees, report lor more informalionl. In¢ome recognition Income is recognis6d in the period in which the charity has entitlement lo the income. the amount ol income can bg measured reliably and il is probable that the income will be re¢&ived. Income cotllpri5es donations, inveslmant income from invgslments and interest from deposits. Donations are recognised when the ¢harily has confirmation of tx)Ih the amount and s8ltlemenl dale and include related Gift Aid tax reclaims. Dividends ara recognised once the diMd8nd has been decla￿d and nolilication has been recglved of the dividend dua. Interest on funds hèld on deposit is included when receivable and the amount can be measured reliably by the charity.. this is nomially upon notification of the interest paid or payablo by the bank. Expondlture recognition Liabilities are recognised as expendilurg as soon as IheT8 is a legal or constructive obligation cornmitting the charity lo make a payment lo a third party, il Is piobable that a Iransler of economic bènefits will be required in settlement and the amount ol th8 obligations can be measured reliably. All expgnditure is accounted for on an accruals basis. Expendituro ¢omprises direct costs and support costs. All expenses, including support 00515, are allocated or appc>rtioned lo tho applicable exp8ndilure headings. The ¢iassification belwgen the activities is as follows. lal Expenditure on raising funds inclLJdes all expenditure associated with raising funds lor th& charity. This includes the fees paid lo the investment manager in connection with the tnanagement of the charity's listed investments. Ibl Expenditure on charitable aclivilies includos all costs associated with furthering the charilablfy purposes ol the charity through the provision of ils charitable activities. Such costs include charitable grants payab5e in promoting and enhancing charitable work arried out by other charitable organisalions, and related suppoil costs including Ihe cost ol administering the activities of the charity and governance costs.

Pa e15 MRS F B LAURENCE'S CHARITABLE TRUST PRINCIPAL ACCOUNTING POLICIES- 30 JUNE 2023 Charity InfoTmatÉon Expendlture recognition Icontinu8dl Grants payable are included in the slalemenl of financial activities when approvod and when the intended re¢ipi8nl has either received the funds or b&&n informed of the decision lo make the donation and has satisfied all related ¢onditions. Grants approved but not paid al the end of the financial ygar are accrued for. Grants where thè beneficiary has not be8n infoTmed or has to meet certain conditions before the grant is released are not accrued lor bul are noltsd a financial commitments in the notes lo the accounls. All expenditure is staled inclusive ol irrecoverable VAT. Allocation of support and governance costs Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary lo provide support in Ihe form of administration services. Governance costs comprise the costs involving the public accounlabilily of the charity lincluding audit coslsl and eosts in respect of ils compliance wilh regulation and good practice. Support cosls and governance costs are apportioned directly lo th8 one charltable activity. Fix&d asset investments Fixed asset investments are included on the balance sheet at their rn8rket value at the end of the financial period. Rèalised and unrealised gains lor losses) are credited lor debited). to the statement of financial activities in the year in which they arisè. Listed investments are a form ol basic financial instrument and are initially recognised al their transaction value and subsequently measured al their fair value as al the balancè sheet date using the closing quoted market price. The charity does not acquire pul options, derivatives or other ¢omplgx financial inslrurnonts, though Ihe appointed investment managers may do so as part of their risk managemenl responsibilities. As noted abovg the main lomi of financial risk faced by the charity is that a volatility in equity markets and investment markèts due to wider economic eonditions, the allilude of investors lo investm&nt risk, and changes in sgntimenl concerning equitias and within particular seclors or sub sectors. Roalised gains lor losses) on invèstment assets are calculated as the difference between disposal procesds and their opening carrying value or their purch8$8 value is acquired subsequent lo the first day ol the financial year. Unrealised gains and losses are calculated as thè difference between the lair v81ue at the year end and their carrying value at that date. Realised and unrealised investment gains lor lossesl are creditod lor debited) lo the 51atemenl of financial activities in the year in which they 8TIS9. Debtor5 Debtors are recognised at their setllemenl amount, less any provision lor non-recoverabilily. They have been discounted lo the present value of the future cash receipt where such discounting is material.

Pa e16 MRS F B LAURENCE'S CHARITABLE TRUST PRINCIPAL ACCOUNTING POLICIES- 30 JUNE 2023 Charlty Information Cash in bank and In hand Cash at bank and in hand represents such accoun15 and instruments that ar8 available on demand or have a malurity of less than three months from the dale of acquisition. Creditors and provisions Creditors and provisions are recognised when ihere is an obligatlon at the balance sheet dale as a rasLJIt ol a past event, il is probable that a transfer ol economic benefit will be required in seltlemenl, and the amount of the set116ment can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay lo set119 the debt. They have been discounted to the present value of the fijlure cash payment where such discounting is material. Fund a¢countlng Th8 general fund represents funds available for the general charitable purposes of the charity which may be applied al the discretion of the Iru5tgeS. The designated fund ￿preSentS assets sèt aside by the trustees for specific purposes. Cash flow The accounts do not include 8 cash flow slalement because the ¢harily is exempt from Ihe requirement lo prepare such a slalemenl under the Charities SORP IFRS 1021.

Pa e17 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS- 30 JUNE 2023 1 INVESTMENT INCOME Investment income arises from ihe following investments.. 2022 2023 27,266 1,076 2,442 676 12,261 661 UK equities and unil trusts dividends UK unil trust interest UK Gov6rnmenl and fixed interest securitles REITS Overseas equities Overseas fixed interest 51,931 2.167 143 11.695 1,148 44,382 67,084 2 PROMOTING AND ENHANCING CHARITABLE WORK 2022 2023 68.500 38.065 9,614 Grants paid or commilled lo charitias Grant administration costs Governance costs Inolg 31 65,500 29,293 4,216 116,179 99,009 A detailed list of the granis paid lo chartlies is givan in the appendix lo theso accounts. A reconoiliation of the grants payable and grant commilmenis figures shown in these accounts is as follows.. 2022 2023 Grant commitmenls al 1 July 2022 Adjustment lo prior year oustanding commitm8nis Grants payable lo charities 6,500 3.000 65,500 68,500 68,500 162.0001 Grants payable Grants paid during the year 75,000 163,5001 6,500 Grant commilmenls al 30 Jun8 2023 11,500 The grants payable to institutions are delai18d in the Appendix Ipage 24) to these accounts.

Pa e18 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS- 30 JUNE 2023 3 GOVERNANCE COSTS 2022 2023 Independent examiner's fge Slalutory audit lee Slalulory aLJdit lees underprovisionlladjuslmenll Trustees. expenses 3,300 8.400 264 950 1841 1.000 9,614 4,216 4 STAFF COSTS. TRUSTEES. REMUNERATION AND RELATED PARTY TRANSACTIONS Th& Charity employed no staff during the ye8r12022- Nonel. No trustee reGeiv8d any remuneration in respect ol their services during the year12022 £nill. Payne Hicks Beach Trust Corporation Limited I PHBTCL") is a trustee of the eharity and a Irust corporation within the meaning of the Trustee Act 1925. All directors ol PHBTCL are praclising solicitors and partners ol Payne Hicks Beach LLP, the firm DI solicitors which administers payments and kgBps Ihe books and records of Ihg charity. The lees charged by Payne Hicks Bèach LLP for Ihg year (excluding VAT and disbLJrsemenlsl were £24,00012022 £31.2651. The outstanding fee as at 30 June 2023 (excluding VAT and disbursemenlsl is £12,00012022- £10,000). All balances outstanding are Ljnsecured, intèr8st-free and lo be sellled in cash. Two Iruslees wère reimbursed a lotal of £1.000 for èxpenditure incijrred in the performance of thèir duties during the year12022 - £9501. The key management personnel ol the charity in charge of dirgcting and controlling the charity comprise the Iruslees. The total remuneration (including laxabl& benefits bul excluding employer's pension contributions) of the key managernenl personnel for the year was £nil12022- £nill. There wei8 no olher relal8d party Iransaclions during the period of report12022 - none). 5 TAXATION The Mrs. F.B. Laurence Charltabl2 Trust is a règistered charity and, therefore, Is not liable lo income tax or corporation tax on incom8 or gains derivod from its charitable activilies as they f811 within the exemptions available to registered charities.

819 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS . 30 JUNE 2023 6 INVESTMENTS 2022 2023 LISTED INVESTMENTS Movements in listed investments dLJring the year were as follows.. 2,986,151 Market value at 1 July 2022 2.841,535 2,793,116 Additions al cost 202,621 Disposals at book value Iproceèds.. £210.875,' gains £7,501) 12,852,329) 1203,3741 185.4031 Nel unrealised gainslllosses} in year 7,500 2,841,535 Market value al 30 June 2023 2,848,282 2,763,628 Cost of listed invesltnent5 30 June 2023 2,756.151 All investments wer& dèalt in on a recognised 5to¢k exchange.. 2022 2023 Listed inveslmellls held at 30 June 2023 comprisè the following investment all listed on a UK stock exchange.. 2,124,101 105,091 UK equities and unil trusts UK government and fixed interest securities 1,952.400 85.941 2,229,192 2.038,341 Overseas investments Overseas equities FiKod Interest 516,489 95,854 749.272 60.669 809,941 2.841,535 2.848,282 At 30 June 2023 the following individual holdings h8d a material valu8 in the context of the entire portfolio: %of Portfolio Value TM Ruller Portfolio C GBP Dis 50% 1,422,431

Pa e20 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS. 30 JUNE 2023 7 DEBTORS 2022 2023 Othèr debtors Accrued Interest 178 8 CASH AT BANK AND IN HAND 2022 2023 44,351 6,561 JM Finn CAF PHB 14331 22,487 501 50,912 22,555

e21 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS. 30 JUNE 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2023 Accruals and deferred Income Independent examinerf5 lee Accruals for grants payoble.. Maggie's Centre lyear lo 30 June 20211 Alzheimerfs Sociely lyear to 30 June 20211 Friends of Sl Nicholas School Iy88r to 30 June 20￿} Rose Paterson Trust (year to 30 June 20221 Ty Hafan ly&ar lo 30 June 20221 Mont8V8rdi Choir (year to 3D June 20221 World Horse Welfare Iy8ar lo 30 June 20231 Driffiel(f & Dislrlcl Skate & BMX Park lyear to 30 June 20231 Sickle Cell SocSely (year lo 30 Jvne 20231 JackTh8Lad FoundalK)n (year to 30 June 20231 Other credltors Grant adminislralion Costs Investmenl manager's feg Stalulory audit fee 2017 und&rprovision 2018 2019 2020 2021 2022 3,300 1,000 2,000 2,000 2.000 2,000 2,000 500 2,000 500 500 1.500 2.000 12,216 3,265 14,643 84 3,288 3,288 3,384 3.480 8,400 3.288 3.288 3.384 3.480 8.400 21,840 43.905 51,283 10 DESIGNATED FUND B81ance at Investment 1 Jul 2022 Gainsl Losses Balance at 30 June 2023 Transfers Deslgnaled fund 2,853,871 15,365 150,9961 2,818.240 B818ncè at lJul 20 Investment Galnsl L055es Balatr)¢e 8t 30 June 2022 Transfers Designated fund 2,986,632 (76,403) (56,358) 2,853,811 The designated fund r8pre8enl8 funds sel aslde by tha trustees for Ihe purpose of providing a continuing source of income. Certain adminislralive cost5 are met by a transfer from the fund each year.

Pa $22 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THE ACCOUNTS- 30 JUNE 2023 11 ANALYSIS OF NET ASSETS Fund balan¢8s al 30 June 2023 are represented by.. General Fund Dosignated Fund Total 2023 Listed Investments Current as5els Creditors.. amounts falling due within one year 2,848,282 21.241 2,848,282 22,562 1,321 151,2831 151,2831 1.321 2,818,240 2,819,561 Unieali5ed gaSns on listed investments 92,130 92,130 Reconcillalion ol movements in unrealised gains on inveslrnenl assets Unr8alis8d gains al 1 July 2022 Adjusted in r8sp8cI of disposals in year 77,W7 6,723 77.907 ,723 84.630 84,630 Add.. Gains arising on revalualSons in year 7,500 Unrealised gains 8130 June 2023 92,130 92.130

Pa e23 MRS F B LAURENCE'S CHARITABLE TRUST NOTES TO THEACCOUNTS- 30 JUNE 2023 11 ANALYSIS OF NET ASSETS Icontlnuedl Fund balances 8130 Jun8 2022 8re represented by.. General Fund Designa¢8d Fund To¢81 2022 Llstedinv8slm8nts ci1r￿n1 assets Creditors.. amounts falling due hin one year 2,841,535 56,241 2,841,535 57,090 (5,151) (43,905J (43,905) (5,151) 2,853,871 2,848,120 Unre81ised gains on lisled Inveslments 77,907 TT,907 Re¢on¢tllatlon ofmovements in u￿r￿liSed gains on investmenl assets Unre81ised gains al l July 2021 Adjuslfjd in respect of dispos815 in year 638,217 (474,907) 638,2t i (474,901J 163,310 163,310 Add.. Gains 8rising on revalu81ions in y88r (85,403) (85,403) Unre81is8dg8ins 8t 30 June 2022 77,907 77,907

Pa MR B LAURENCE'S CHARITABLE TRUST PENDIX. GRANTS PAYABLE GRANTS PAYABLE. Amount Seplernber 2022 Royal Marsden 1,000 O¢lobpr 2022 Warld Hor9e Well£re Hak>w Project Fii&nds ol Sl Nicholas SchoDI Hlyhlond w1￿11[e Res¢UÈ L¢vqChvrch (St Swllhun's Boumemculhl Chlldrens Hosp1181 Py)grn89 Dreams Come Twg SPANA HaslBmerg P9nny H¥'pgnnyTtu$i 500 2.000 2.000 2.000 1.000 500 1,000 1.000 1.000 1.000 500 1,000 500 ReyAI Re9plie Llmlled Noilh Weslwheelchalr Rugby Drlffleld & D151riGI Skate 8 BMX Park Bucklngham Parlsh Church Ethlh Cav811 Fund lor Nurs¥$ ForfuD& ¢&ntTe ol Rldiny Therapy M?rle Curip ontevprdl Cholr NAllorFal Aulisilc Sociely Younp Live5 V5 Cancer (CLIC Sargtrni Can¢&r care lorchlldrenl Fr￿￿￿5 of N9Watk Orfjhsrd Schtsd 1.000 z.000 2.500 1.500 2,000 2.000 2,000 2.000 May2023 Ind HaknwProiect Fr￿ndS of Sl Nlcholas HlgNand Wi￿11[0 Resc P$llfftaii¢ ¢ancerAclknn S Sodely 500 2.000 2.000 2.000 1,000 1.QQO 1.500 2.000 1,500 500 1.500 2.000 2.500 1,000 1,500 1,000 2,000 z.000 2,500 I,soo 1,000 2,500 50D Sl Fiancis dg Salps & Sl Q¥Hwde Chureh Ha5￿m￿r@ P8nny Ha'pBnny Tiusl TIM Stottkdale Foundallon Ilhrough OxtordBhlre Communily Found?twl A¢cfy83 SFth IBrLxloTh BMX} Frlends of Hollswat&r PTA Ich9qU9 to HollywalgrS¢hooll Chlchesler Haibour Trust Collalon Sl Mary Parlsh Room Dorothy House Hosplro. Bath Tho Fartn Saleiy Foundallon Icvi J$¢kTheLad Foundallon Marle CurF£ Rgllw8YChl￿￿en Charity Rowcroft Housg Foundallon Llmii8d Soulh Cadbury Villagg Hall seafo￿￿$ UK 65.500 T¢t41 grants and don8lk)ns mad8 lo Inslllubons 2022 arnouDlod tg £fjLfjQQ