The Good Luck Charitable Trust Reglslered Charlty number 803744 Annual Report and Financial Statements for the year ended 5 April 2023
THE GOOD LUCK CHARITABLE TRUST Contents Year endèd S Aprfl 2023 Page Rewrt of the Trustees Independent Examinw's Report Statement of FinatKial Activities 8alan¢e Sheet Notes to the Accounts 9-16
THE GOOD LUCK CHARITABLETRUST Report of the Trustees for th• al to 5 Aprll 2023 Dats 4rf settl¢rnent: 20 Mwch 199) Also known as: Mrs M E J Webber Chlable Setlknienl Charlty number. 803744 Settlor: Mrs Mard Elzabeth Jane WetrA)er foloY4iry amounls have been ded lo the settkment.. 23 September 1997 £50,000 11 t)ecember 1997 £14,935 12 April 2C(rfJ £776 Lent Tech In¢ shares 2 April 2002 £80.000 7 May 2015 (Mrs E A Br(xhn> £10,000 9 Juno 2015 £150.000 10 June 2015 19,000 The European Inv Tr Ord 25p 29 March 2017 2,WO E18Ctra Private Equity 25p Ord 29 March 2017 6.(K)O Diageo 28 1011108p Ord 29 March 2017 43,000 Fidelity Special Valu&s 5p Ord 5 Aprl 2017 (Mrs M E J Webberl £160.0(YJ 5 AprA 2017 (Mrs M E J Webber) £322,488 2.[ sh¥es in Electra Prive Equty Ord 25p shares. 6.0ty) shares in Oiageo Ord 28p 1011108p shares and 43,DCQ shares in Fidel Values 5p shares 28 August 2018 {kth5 M E J INebIr) £400.233 28August 2018 (Mrs M E J Webberl £115.174 3 January 2019 (Mrs M E J Webber} £30.000 2 October 2020 (Mrs M E J Webber) 6,561.68 shargs in Billie Gifford Overseas Gr¢yMh Fund Class B Ameran Fund Income Units 22 March 20221Mts M E J Wetthrl 12,419 871 shares in Bilh'e Gifford Overseas Grovrth Fund Class B AJneriean Fund Income Units and 232.89 shares in SchrcJers Investment Management {Luxembourgl SA 27 Jufy 2022 (Mrs M E J Webbgrl 12,218.449 shares in Baillie Gifford & Co Ltd Posiive Change B Incomo 27 Juty 2022 Imrs M E J Webberl 31r2.11 shares in Schroders Investment Management {Luxemly)ufg} S.A Asian Total Retum Fund C Unrts Gov•rning Docum•nt: Trust De& Objects: The Trustees hale the to apply all the and all or part of the capital for any chariable purpose the Truslees to provkle signfficant brfrt. The I&1 of retums on Ihe chty investment portfolio is considered a key pertoffliance indtstor for the trust. Obtaining retums from the p0110 wll ble ts TiLtste8s lo continu8 lo provhJ8 charilabl8 grants.
THE GOOD LUCK CHARITABLE TRUST Report of the Trustees for the year to 5 Aprll 2023 (continued) Activltles and A¢hlevenwnts: The charty attatyd total in%esknent irKcne of £69.962 in 2023 12022 - £53.1111 The charity recepRd £247.704 in donati)ns in 2023 (2022 - £318,750). Total grants to instrtultins wi the year totaied £55.00012022 . £50,000). During Ihg year a Jrfher£776.784 wq$i¥•sted h)to th• cha1Y'S investment FQrtfcJ. The chth alne proceeds of £541,260 from the sale of invesknettts thin th& portfol 2023. Overall Ihe chwiW8 In¢m Decreased in value by £23.163 in 2023 12022- £375.1821 The erKnIfvJs atthe VidTt£2.S24.4o6[2022-£2,547,s6. Publlc Benefit Statement: The trustees cMi Ilw have Teferred to the guidance in the Charity Commrs5ion'$ genwal guanCe on pyt benefit when revEwing the chaiity objectiNes and Xtivities arxl In nn11¥j future actMtte$ It 1$ the judgement of the trustee5 that acts¥ils in pursuit of the overall objectives fully meet thé public befil test they have kept In mind in ¢)peronal planrNng. Trnsttès: Mrs M E J Webber Mr J A W Webber MrMDRShap Prln¢ipal Addro¥9: 1 King's kn$ Lond. EC2R 7AF Tru510•5 Selectlon Method: Existsng Twstees have pw to app1 new trust88S. Appointfflent and tralning of Trustees: There are no pkn to further Tntstees. No fomal trainiThJ is given to rewTwstees t#rt tsy we briefed IlM>rwY as to the chwity's actlvllles. All expendibjre is fully apprched by the t4)ard of Trusteos b8fore being Investmont Advlsors: Akler InNeSts Manajwnent L¥nte(I 1 lfjng's Arn Yard London, EC2R 7AF Accountants: 1 lfjng's Alms Yard London. EC2R 7AF Independent Examlners: PIKe By LLP 24 Old Bond Street London W1S4AP
THE GOOD LUCK CHARITABLE TRUST Report of the Trustees for the year to S April 2023 (contlnued) Reserves Pollcy. The Trustees di5tn.bute thé mwty of th6 investment income during the year. On occasions the tru51ees will reduce the overall fund once the income has been exhausted forthe year forfurther dtrIbUlKInS. At 5 April 2023 total resetves £2,613.799 {2022 £2.705.1701. Going Concèrn: Th8 trustees have rev7th¥ the current firbancial headroom as ell as expect&J future IltrK and believe the charity can continue for at188St 12 m(h$ fr(n the date of suning of these financial slatemenls. No further di¥thsures rdaling to the trusts ability to contsnue as a gK)#ig cOer need lo be male in the finan1 sta&mts. Grant Making Policy: Trustees ioinl d8cisKffl. Inve8tmènts Sdecli¢)n Pollw: A balwwl retum fr<Mn i1Ce and caFXtal growth. Risk management: The TNstees have examined the winci)al areas of the tharitys operati¢)ns and considered the mw r&%ks faced in each of th)se areas. In the OPIn)n of the Trustees the ¢harty has established the iesources and revi $emS whith. under nomial circumstances. should all¢)w these risks lo be mittsjaled lo an tab level in ts day to day operations. Key rlsks: The wincipal r¢sks faced bythe charity ar8 financial risks conceming the loss of irthme due lo a fal in nkartels wiping OLrt Ihe YabJe of investment5. The Trustees we conlenl that these risks are managed as Ihg charity has invested in a wJried and di¥ersifd 01. Plans for the fvre: The Twstees plans for the future are to continue to apply all of the investment income and vthat donalKJn irKome is needed for any charrtable purpose. Irwestment portfolio pgrformancg is a kay fac¢or in the extent of grants ItrAt the charty wll dkstriLxrte to beneficileS in luture years. Accounts: The Trustees are Sp(sle fix prepamg the TTUStees' Rep and Ihe finanual statts in acwrdan¢e wlh applicab law and United InAOM ArxwnlvJ StaTrJards (Unrted lfj'ngdom Generally Acce Accowiling PixtKe).
THE GOOD LUCK CHARITABLE TRUST Report of the Trustses for the year to S April 2023 (contlnued) The law applKablg to chaths in England & Wales rewires the truslees to prepare financial statements for each financial year whh 9ave a Irt and f&r view (Athe slale of affai of the charity and of the incoming resources of the charty for Ihal peric41. In prepariThJ these fmanei81 statements. the Truslee8 are lo.. Seled suitabl8 accountwy and then consistent. ObseThe the metlMxls and principles in the Charrties SORP FRS102120191.' Make ju¢SJements and estimates that are reasonabl8 and prudent." stste whether applicable UK Accounting StaThJwds have be fdlcphpd. subj8Ct to any material departures disclosed and explained the financial statements. Prepare the financial stslements on th8 goFng cOrn basis unless it is inapprow to presume that the charity will continue in opw•)n. The Trustees r8sp)nsible for keeFrfV Xc0'rVj re¢S that dwk)se wAh reasonk accuracy at any time the finCial p05ion of the chanty and enat4e them to ensure that the fiwcial $latements comply with Ihe Charrties kt 2011. the Ch*rty (Aceounts Reports) regul8ti(ms 2008 and Irusl d88d. They are also resp¢)nsib for safeguardir4J the asse15 of the charity and hence tsking r8sp)nsibk steps for the preventpJn and detectKo) of fraud and (ther irregulanties. This report aFproEd by the Trustees aNI is syned behalf of them ty. MrMDRSh pley
THE GOOD LUCK CHARITABLE TRUST Independent Examlner's Report I report to the charity Trustees on my eXWninl0n ofthe accourts ofthe thaity for the ended S April 2023 which are set out on pages 7 to 16. Responslbilili•s and basss of r•port As the ¢hariVs TrLths you are [esponble for tlp prepation of the aCcnts in accordance wilh the requirements ofthe Chariliès Act 2011 ('the Arfl. Having satisfied Myse Ihal Ihe of the CpanY e not required to be audiled under Part 16 of the 20[ Act and are eligible for independent examinatKJn. I rep)rt in respect of my examination of your compan5 accounts as carried oul under sec11 145 of the Charities kt 2011 {'Ihe 2011 ACV). In Carrying oul my examination I have fo11¢y•d the DirKtions given by the Chary Commisstin under seclh)n 145(5llb) of the 2011 Act. Since the companys 05$ li¢0 exceeded £250.000 exankner mL&81 be a member of a body fisted in sedion 14S of the 2011 Act. I confim that l qualfied to undertake the examinatTon b&ause l am a memb8r ofThe Institute of Chartered AcCnI)ts in Engnd and Waks. one of the listed bcJies I have compl818d my examination. I conkn that Th) material mteTS have come to my attentn in connection with the examinalK)n grving me use to beheve that in any m8teityl SPeCt.. 1. Accounting rId9 V•we not respect d the charty as required by section 130 of the Act." or 2. The a¢counts do not aeccd those reccfds: or 3. The accounts do not comply with the applicable requirwnents ccrfKeming the fom) and ¢ontent of accounts Sel oul in the Charils {Actounts and Reports) Regulations 2008 crth8r than any reryirement that the acCts give a and far vv¥ is not a matter considered as part of an independent ex8minaliYb. I have no concems * have a¢ross no other mters in connectK)n Vlilh th8 examination to vthKh attentn should be dravffl in reF¥)rt in ordw to enable a Fffer underntandirKJ of the aecounls to be reached. Michael Coop8r-Daws FCCA ACA For and on behalf of Price Balley LLP Ch8rter8d Accountants 24 Old Bond Sire London W1S4AP Date.. 5 February 2024
THE GOOD LUCK CHARrrABLE TRUST Statement of Flnanclal Pd5v5tles Year end•d 5 Aprll 2023 Unrestrktsd Endowmenl Funds 2023 Ti)¢al 2022 Total Incomo: Investments 69.W2 159, 69, 159,9 $3.111 318.750 Donations and legacies Total Incomo 229.031 229.031 371.861 Expendlturn- Charitable actNili 55,0 2.553 4.163 55.0 2.553 4.163 50.000 2,513 Support C051s Raising funds 3.857 Total expendlturn 61,716 61.716 56.370 Nel income 167.315 167.315 315,491 Net (10gsesygain$ on Inv&stments (258.687) 1258,687} 115.749 Transfers 1235.525) 235.525 Not movement in funds q08.210) {2&1621 {91.372} 431.240 Reconcillation of lunds: Total funds brought forward 10 157.603 2,547. 2.705,171 2.273.931 Total funds carried lorward 89.393 2.524M06 1613.799 2.705.171 All income and expenditure derNe fr(wn continuing acti¥itiBs. Transfw5 reviewed lo ensure wdtr•ment fUj continues to invest. The statemwrt of f¢la1 a¢tivits inc1e8 al gains and I¢se5 reeogni8ed during the year. notes pag8s 9 to 16 lomi part ofthese cOUnts
THE GOOD LUCK CHARITABLE TRUST Balance Sheet At 5 April 2023 2023 2022 Note Flxod Assets Investments 2.524.405 2.547.S88 Current Assets Cash at bank Deblofs 102,230 73.189 98.25Q Current Llabilities Creditors 112,836) (11.8361 14et CuKr•nt Assels 89.394 157,603 Nel Assets 2.613.799 2.705.171 Funds of the Charlty Unrestricted funds End¢y*4Thent funds 10 89,393 2.524,4L 157,603 2.547,$68 2,613.799 2.705.171 The financial statements were approved WKI sh3d by thg Trustees on f- 1-2014 and sign their behal by.. MT M D R Sh¥SY The Th)tes on pages 9 10 16 forn pwt of Ihese accounts
THE GOOD LUCK CHARITABLE TRUST Notes to the Accounts Year endèd 5 Aprll 2023 1. A¢¢ounting Polkl•s Genéral Infonnatlon and bas08 of accountlng The Good Lk Charitable Trust is a charity for benefft regtslered under th8 Charily Commission in England and Wales. The adthess ofthe princpd a(kkessis l Kty1g'sAM Yard. Lwdon, EC2R 7AF. The tharity conslrtutes a publ¢ benefft enlty as defirEd by FRS 102. The finaKial stalements haN been prepared in ardance with Accountsng aThJ ReportiTrJ by ChaitEs.' Statement of Recommended Practice wplrable to charities ppar•i9 Iheir accounts in accorttan¢e with the Fmancial ReportirMJ Standard 4)plKable in the UK and Republ of Ireland (FRS 102) issued on 16 July 2014. the Financial Reporting SlarbJ8rd apph'cable in Ihe United Kwdcffi and Republ of Ireland (FRS 102), the Charities Act 2011, the SORP 2019 and UK Generalty Accepted Practice. The financial statements have been wepared lo we a 1we fairf VIÈW and have departed from the ChtIeS (Accounts and Report¥l Regulalion$ 2008 onfy to the extent requlred to w0ve a 'true and fak vieW. This depwtsKe has in¥ofved f¢lowng P£¢tyJnlwig and Reporting by Chanlie5 preparing their account5 in xcordance wrth the Financial ReporfiTrJ SWd¥d appkable in the UK and Republic of Ireland {FRS 1021 issued on 16 July 2014 rather than the Accounting arKI Reporting by Charth"e5.' stalemenl d Reccfftnended Prxlice efftiVe Ircrfn 1 fv4>ri12(M)5 whrh has ste been wthdrawn. The financial stalanenls e4e under the historul c05t Conventrt. nN)drfied lo ilUde certain items al fair value. The finan¢ia stat1)ents are prepared In slerling whih is the funcb'onal currency of the Charity. The Snl¢an1 accounting policies applied in the preparat of these financkql slalemenls are set oul beknv. These pothcEs havebeen consistentyappkd toal years wesented unless otherwse stated. The fmanual sL2temenls have rrNJnd8d to the neawest pwnd. b. Golng nC•M The Trusl8es have at the time of approviry ts fala1 statne1. a reasonable expeclaj'on that tha charity bas adequate resources lo ¢ctinue in ¢Vatial ex7Stere forthe foreseeable future. COVID- 19 will have minima effects on the charity duelo there being no 51aff costs and the charity tlY swnds what they earn through investments and trustee th)nions. Thus they continue to 0pt the going eoncem basis of acCnI9 in prepINj the firK•a1 Statemts. No malenal uncethnlEs exist. ¢. kncome Income from inbestments is rec by reference to the de on whh the charity is entiibj to ieceipt. Bank inleresl is recorded on an xcruals basis. Inccrfne ernl on endryTnent funds is unrestricted income. Donations are iecognised receivable. In the event that a donion is Subject lo conditions that require a level ol perfom)ancg befe the chwrty 15 entrt to lurnj. the income is deferred and not recognised until either those conditDns are fulty mei. or the fuffillment of those conditions is wholly within the Control of the charity and * is that tIe d*lon$ w1 be fu111ed the repotts.ng perh)d.
10- THE GOOD LUCK CHARITABLE TRUST Notes lo the Accounts Year endod 5 April 2023 1. AcCntIng Pollcles (¢ontlnu•d) d. Exwnditure Al expendfture is accounted fDr an accruals ba515 aTrJ has been classfd under headings that aggregate all costs related to Ihe ¢eg0ry. Expenditure is recognised where there ts a legal or eonstnjctive ci)lJation to me payYn8nts to third part185. * is probabbe that the Settment will be required and the amount of the obligalic can be measured rdrably.ll is calyrised under the followirrfJ headings.. Costs of raising funds iithdes supr(Kt costs forthe mwement ofthe investrnent portrolio. fvnd- raising and event organisatim: Expendituro on chitableaC1r4Itle5 IKIeS grants made. gO¥wnecosts and aFw11rfEnt of support costs. Grants payable to third parties are ithin the thitable otyec1v. Where LMCondrf(ial grants aro fered, this is accrued as sCn as the recpEnt 15 rrfled of the grnnl, as this gNes rise lo a reasonable expectation that the recipient will reeei the gIts. Where grants are conditional reling to performance, the gwl is only aCCn when any unfuffill&J conditn$ are outside the control of the charly. •. Instm9 Investments are a fomi cl basic financial instrum1 are init• recognised at their cost and subsequenlly measured al theirfairv8lue as at the ball9n sheet dale usin9 the dowg qLh)ted market price. The ststemenl of financial activbties include5 the net gains and bsses arising on revaluation and disposals throughout the year. The charty does nol acqviTe pul opti'ons. derivative$ or other complex financral inslrumenls. The man fom of financial risk fed by th& charty is that of volatility in equity markets and investment markets due to wder economK cornlitKTh. the allitude of investors to invesbment risk. and changes in sentiment conceming equrts. f. Fund •¢¢ountlng General funds are unrestrKled funds we available ts use at the distlOn of the governors Ni furtherance of the general c4&XNes of ch¥ity and hav8 b88n designated for other purposes. Endowment funds r8present those assets which must be held pemianently by Ihe charty, principally investments. Income arising on the endowment funds carb be used in accordance with the obj'ects of the charity and is induded as unrestrithd In. Any capital gains or losses arising on the investments fom part olthe fu1. Inveslmenl in¢crfne, gains and losses are allctated to the appropriate fund. g. Deblors ACcd income is induded at thè besi estimate of the aMots fe¢er¥ab at the balance sheet date. h. Cash and cash èqulvalents Cash at ba incl85 cash h81d in currenl aThJ depOt nts.
THE GOOD LUCK CHARITABLE TRUST Notes to the Accounts Year ended 5 April 2023 1. Ac¢ounllng Polldu (continu•d) l. cred110 and Fyovisions Creditors and provisions are rtognwd vknen theclwty has a kvesent OblallOn resuling from a past event that will probably result in the trsfer d funds to a third rtY and the amount due lo Sett the oblwJa1n can measured ry estsmaled rekabty. Credrtors and provtsThis are normty rwnts•d at their setdement amount after alljwing for trade dCoUnt$ due J. Flnancial Instrnments The tharity only has fincial assets arnl fin1 Ik)ilit of a kwKI that qualfy as bac financol inslruments. 8asic financia in5trumenls a nitially recognised al cost and sthequently measured al their Settlement value. Fixed assets a recLYded at mathet vak&e and all crtherasseis and liabilrties are recorded at cost is thw fair value. k. Kty $ourceg of Judgement and •stimation unc•rtawty No signrficant jLKJgements. accounting asswnpth have been made by management in applying the Chalit$ a¢¢oLmling poli(aes 2. Inc¢)mo from Investmgnts 2023 2022 DNKlend Bank interest 68.486 1,476 S3.084 27 53.111 I relate to unrestrthd funds in b(Xh ye¥s 3. Donallons and Leyclgs 2023 2022 m$e18ry donations {inthdirwJ Gift Aid) 159.069 318.750 159.069 318.750 All rélate to unrestrKled furKls in bcth years
12- THE GOOD LUCK CHARITABLE TRUST Notes to the Accounts Year ended 5 April 2023 4. Charltable Activities 2023 2022 Grants to insl"r(ulions {note 61 SUpt costs . govemance costs 55.0( 2,553 50,000 2,513 57,553 52,513 All r81al8 to unrestricted fund5 both During the year. no Trustee received nor waNwJ any remuneration. benefrts or expenses {2022- nll. There were no employees employed by the charty in the year (2022 - nill. The tharty ¢onsiders that there we no key manwnt P8rsonnel other than the Trust thèmselves. The support costs figures above illleS independent exanw fees 01 £1.836 (2022- £1.836}. 5. Ralslng funds 2023 2022 Investment Manent costs 4,163 3.B57
13- THE GOOD LUCK CHARITABLE TRUST Notes to Ihe Accounts Year ended S Aprll 2023 6. Grants to Inslltutlons 2023 2022 Finchcccks Pathinson's th$ease Socty The Bromley & DistfKt Talking ASS&1)n A12heimels Research Twst Sierra Leone Cancer Charty e41lJl) Embrace the midd East Ev&ryone Matter5 International Libwty AsSlatI)rt Sheller Robes Project Brom Cats Protection League WATCH Iwcfflen and the Church) RNLI AngIan Scti8ty for the Wemare ofAnwnaLs The David Nott FouNJatK)n Four Paws Hogarth CharitiJie TfUSt Biggin Hill Mem181 Museum Trust Bromley C*s ProtectKJn Englsth Folk Dance & Song Society Sierra Leone Car Charty The Robes PrO1t Hogarth Charitable Trust Biggin Hill Memollal Museum Trust 5,IXIO 5,000 3.000 5,000 5,000 5,000 3,000 5,000 1,000 2,000 5,000 5,000 2,000 3,000 3,000 2,0 s.000 5.000 2.000 4.¢)00 1.500 2.000 1.500 4,000 1,500 2,000 1.500 1,C(iO 1.000 3.cilo 5,OC(J 1.0 3.000 1.000 1,OCKI 55.1)00 50.000
14- THE GOOD LUCK CHARITABLE TRUST Notes to the Accounts Year ended 5 April 2023 7. Flxed Assel Investments 2023 2022 At mathet value as al S Aprl 1524,405 2,547,568 Analysi5 of inve5tments'. 2023 2022 Brought foryord Additions at cost Sales proceeds Realed and unreaised {k)ssl on inStMents 2.547.8 776,784 (541.2601 (258.687) 2.172.385 3C6,018 {46.584} 115.749 Carried fornTa 2.524.405 2.547.568 2023 2022 His1cCal cost 2.431.630 2,205.998 8. Deblors 2023 2022 PrepayTherrts ac¢wed Inme 96250 9. Crodltors 2023 2022 Olher Cr&Jitots 12.836 11,836
15- THE GOOD LUCK CHARITABLE TRUST Noles to the Accounts Year ended S Aprll 2023 10. Fund Reconclllatl¢)n Balance at 6 Aprl 2022 Balance at 5 Aprll 2023 Curr9nt Year Galns TransferJ Endowment Fund 2.547.568 {258,6871 235,525 2.524.406 Unre5tricled Fund 157,603 229.031 161.716) {235,5251 89,393 2.705.171 229.031 (61.716) (258.687) 1613,799 Balance at 6 Aprll 2021 Balanc• at S Aprll 2022 Prlor Y•ar Inc4Jme Expenditurn Galns Transfers Endowment Fund 1172.385 115.749 259.434 1547.568 Unrestricted Fund 101.546 371.861 (56.370) 1259.4341 157.603 2,273,931 371.861 156.370) 115.749 1705.171 The transfer tdween lunds was undertn in both lala1 y$ to Shthe en<tr)vwl fund carry forward as the met value of Investments Thwefore the transfer fvjure cc*mprB8$ the acqutsbtion cost, disposal prLKgeds and realis&J gns1105ses.
16- THE GOOD LUCK CHARITABLE TRUST Notes to the Accounts Year énded 5 Aprll 2023 11. Analysls of Net Assets bgtw••n Funds UnrnStrlCt Endowmgnt Funds FuDd$ Total 2023 Investments Debtor5 Credrt¢Jrs Bank 2.$24.405 1524.405 (12,836) 11Y2.230 {12.8361 102,230 Total Net Asspts 89.394 2.524.405 2.613.799 unreStrkl Endowrnent 2022 Investments Debto Cr8ditOlS 2,547.568 2.547,568 96,250 111.8361 73.189 96.250 {11.8361 73,189 Total Net Ass•ts 157.603 2.547.$68 2.705.171 12. Related Parties M E J Webbgr is a Trustee al Good LLM Chaiitable Trusl. In 2023 she m ls)tal ¢ontnbutions lo the charity in the year of £247.704 {2022 - £250,CW). In 2023 the M E J Webber Settknent made ci>ntrbulis of £nil (2022 ~£Trth1} There were clher related party tranSactr* in the year. There 15 a Varian belween the total contritrArti)ns to the chariy above and the tLXal donations per note 3. This is due lo a correctn lo grfi aKI accrua15 during the year whKh t5 reduced donatDns (note 31 by £88,635.