s&w The Langton Trust Unaudited Annual report and accounts for the year end 5 April 2024 R8gl8tered Charlty No: 801386 Pa THE LANGTON TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 CONTENTS Pages Legal and Administrative Information Report of the trustees Independent Examiner's report Rec8iPts and payments account Statement of assets and liabilities Note8 Accounting policies Investment income Taxation Grants paid Expenditure Fixed assets - Quoted Investments Fixed Assets - Investment Property Employee information Related party transactions io 10 10 THE LANGTON TRUST ANNUAL REPORT AND ACCOUNTS LEGAL AND ADMINISTRATIVE INFORMATION Name and r•glst•red number of charlty The charity is known as The Langton Trust and its registration number is 801386 Statu8 The charity was established by a Charitable Trust Deed dated 28 March 1989, Its objects are described in the Managing Trustees. Report on page 3 and 4. Prlnclpal addre88 clo S&W Partners LLP Onslow House Onslow Street Guildford, Surrey GU14TL Tru$t609 Michael Wates C8roline Wat8S James Garwood Michael Wates Accountant8 S&W Partners LLP Onslow House Onslow Street, Guildford, Surrey GU14TL Independent Examln•r Susan Kumar ACA Holden Granat LLP Springfield House, 23 Oatlands Drive Weybridge Surrey KT13 9LZ Investment Manager8 Evelyn Partners Investment Management Onslow House Onslow Street Guildford Surrey GUI 4TL Sollcltors Boodle Hatfield 6 Worcester Street Oxford OXI 2BX Pa THE LANGTON TRUST ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 TRUSTEES, REPORT The Managing Trustees present their report along with the accounts for the year ended 5 April 2024. Object$ The Trust's objectives are the relief of poverty, the provision of education, and assistance to religious. medical and other charitable organisations. Grants are only made to registered charities, Governance The Langton Trust (charity number 8013861 was established by Mr M E Wates on 28 March 1989 and was registered as a charity under Section 4 of the Charities Act 1960. The power to appoint new. or additional trustees, vests in the settlor during his lifetime. The Trustees who served during the year were: Michael Wates Caroline Wates James Garwood Michael Wates Prlnclpal addre88 Onslow House, Onslow Street, Guildford, Surrey GU14TL ObJectlv88 and Actlvltl88 The Trust g8ner8tes funds through income from its investment property, its investment portfolio and cash held. Donations were made during the year from an account with Charities Aid Foundation funded by the Trust in earlier years. Rlsk Management The Trustee5 consider that they hold adequate funds to meet current liabilities. The Trustees have identified and examined the major risks to which the charity is exposed and have established procedures for taking all reasonable steps to lessen or mitigate them. The Trustees review these risk management procedures annually. R•8•rves Pollcy The Trustees have determined that the large gifts made by Mr M E Wates to the Trust. including taxation recovery, totalling £1.069.781 should be retained as a permanent endowment. The unexpended net income generated from these funds is available for future donations. The permanent endowment fund balance at year end was £1.403.536, including unrealised gains on investments. The Trustees consider that it is appropriate to carry unrestricted reserves equal to one year's expenditure. Investment8 The Trustees have taken the advice of their Investment Managers regarding the investment of funds. Investment policies and performances are reviewed at Trustees, meetings. Publlc Beneflt Requlrement The Trustees have given due consideration to Charity Commission's published guidance on the operation of the public benefit requirement. Flnanclal revlew Donations and investment income generated incoming resources of £38,26512023: £25,999). At 5 April 2024 the Endowment Fund amounted to £1.403,536 {2023., £1.294,0361 which included realised and unrealised gains on listed investments of £109.500 during the year (2023: losses of £105,214). Unrestricted funds of £19,407 (2023: £114.9041 are available to fund future trust expenditure and donations. Tru8toas' Rgsponslbllltlo8 Statement The trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable regulations). In preparing these accounts, the trustees are required to.. select suitable accounting policies and then apply them consistently., make judgements and accounting estimates that are reasonable and prudent,. and state whether applicable accounting standards have been followed. subject to any material departures disclosed and exp18ined in the accounts: The trustees are responsible for keeping adequate accounting records which are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Trustees of The Langton Trust on 26 February 2026 and signed on its behalf by Michael Wates, Trustee. THE LANGTON TRUST INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OFTHE LANGTON TRUST I report on the accounts of The Langton Trust for the year ended 5 April 2024. which comprise the Statement of Assets and Liabilities. Receipts and Payments account. and the related notes1 to 9. Respectlve responslbllltles of trustees and examlner As the charity's trustees you are responsible for the preparation of the accounts. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act. follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act. and state whether particular matters have come to my attention. Basls of Independent examlner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and, consequently, no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those rnatters set out in the statement below. Independent examlner'8 statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met,, or 12) to which. in my opinion, attention should be drawn In order to enable a proper understanding of the accounts to be reached. Susan Kumar ACA Holden Granat LLP Springfield House 23 Oatlands Drive Weybridge Surrey KT13 9LZ Date: 26 February 2026 Pa THE LANGTON TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Notes Endowment fund Unrestrlcted funds Total 2024 Total 2023 Recelpts Investment income Investment transactions Inetl Total Recelpts 3,574 114.411 117.985 34,691 38,265 25,999 79.674 34,691 152.676 105.673 Paymants Grants paid Investment management costs LEI Fee Charitable expenditure 120,000 120,000 8,117 72 5,574 133,76 iio,000 9,273 8,117 72 5.574 13,76 6,162 125.43 120,0 Net r6celpt81(payments) for the year 104,222 (85.309) 18.913 119.762) Bank account balance8 at 5 Aprll 2023 Bank account balance8 at 5 Aprll 2024 (30,9931 40,246 9,253 29,015 73,229 {45,0631 28,166 9,253 THE LANGTON TRUST STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2024 Notes Endowment Unrestrlcted fund funds Total 2024 Total 2023 Investment Assets Investments Investment property 1.194.777 200,000 1,194,777 200.000 1,199.687 200,000 1,394.777 1,394.777 1,399.687 Monetary A88et$ Cash and bank balances Evelyn Partners - Dividend Account Evelyn Partners- Deposit Account 1,266 146,329) 1,266 26,900 1.182 8,071 73.229 73,229 145,0631 28,166 9,253 TOTAL ASSETS 1,468.006 (45,0631 1.422,943 1,408,940 Current Ilabllltles Independent examiner Accountancy Investment management fees 1960) 14,7201 12,0941 7,7741 (960) 14,7201 12.0941 (7,774 1960) 14,2901 {2,1261 {7.376 Approved by the Board of Trustees and signed on its behalf by Michael Wates, as Trustee. The notes on pages 8 to10 form part of these accounts. Pa THE LANGTON TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 l. A¢countlng Pollcle8 Basls of Accountlng The accounts have been prepared on a receipts and payments basis and in accordance with applicable accounting standards. Incomlng re8ourco3 Income is accounted for on a cash received basis in these accounts. Any associated income tax recovery is recognised as income when received. Re80uree8 oxpendod Grant Payments are recognised in the year of payment. Costs have been allocated based on actual fees incurred. No apportionment between charitable activity is required. Funds The Trust has a permanent endowment fund arising from donations made by Mr M E Wates. The unexpended net inv8Stment income on this fund is available to cover unrestricted expenditure. Unrestricted funds comprise those funds which the trustees are free to use for any purpose in f urtherance of the charitable objects. Investments Listed investments have been valued at market value as at the year end. All movements are shown in note 6. Tanglble flxod a880t$ Tangible fixed assets represent an investment property donated to the Trust by the settlor in March 2009. The property is included in the accounts at open market value at 5 April 2012. Depreciation is not provided on investment properties. Irrecoverable VAT Irrecoverable VAT is charged against the category of expenditure for which it was incurred. Pa THE LANGTON TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 2. Investment Income Total 2024 Total 2023 Investment Dividends Investment Interest Deposit interest Rental profit 17,124 6.788 336 14,017 38.265 13,457 4.424 258 7,860 25,999 3. Taxatlon As a charity, the Trust is exempt from tax on income and gains falling within sectlon 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. 4. Grant8 pald Total 2024 Total 2023 Charities Aid Foundation 120,000 120,000 110,000 110,000 5. Expendlture Total 2024 Total 2023 Charitable expenditure., Accountancy Independent examiner 4.290 1.284 4,050 2,112 6,612 5.574 6. Flxed assets - Quoted Investments 2024 2023 Investments: At 6 April 2023 Additions Disposals Realised gainslllossesl Unrealised gainslllosses) At 5 April 2024 1,199,687 1,384,573 278,915 433,861 1393,325) {513.5331 22,534 112,345 217 559 1.194,777 1,199.687 e10 THE LANGTON TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 7. Flxed assets - Investment Property 7 Cobham Road. 8landford Forum DT117YB Valuation as at 6 April 2023 200,000 Revaluation in the year Valuation as at 5 April 2024 200.000 The investment property is held at the trustees, estimate of open market value as at 5 April 2012. The property h8s not been revalued at 5 April 2024. The historic cost of the investment property was £184,500, being the transfer value at date of gift in March 2009. 8. Employoe Informatlon There were no employees of the Charity in the year ended 5 April 202412023., £nil}. 9. Related party tran8actlon$ and Tru8tees' remuneratlon No expenses were reimbursed to any of the Trustees during the year ended 5 April 202412023: £nill. None of the Trustees received any remuneration during the year ended 5 April 2024 (2023: £nill.