The Maurice and Hilda Laing Charitable Trust


To charitable purposes only but principally for the following purposes: the advancement of the Christian religion in any part of the world; the advancement of religious education in accordance with the doctrines and principles of the Christian faith by such means as the Trustees think fit; the relief ofpoverty throughout the world; and the protection and preservation of health and the relief of sickness and mental and physical disability. Until 18 August 2017, the Trustees have power to accumulate all or any part of the income of the Trust Fund.

Professional Advisers

Auditors Mercer & Hole
Legal Advisers Linklaters


Mr Peter Joseph Harper, Mr Robert MacFarlane Harley, Sir Ewan William Harper, Mr Stephen John Haines Ludlow, Ms Andrea Currie, Mr Charles William David Laing


Ms Elizabeth Ann Harley (Director)

Investment Policy

The grant-making programme is financed by income derived from the Foundation's investment portfolio, which is managed on an advisory basis by the Foundation's stockbrokers, Savoy Investment Management; their performance is reviewed, and measured against published indices, on a regular basis. In the past the objective has been to invest for a combination of capital and income growth on a long-term basis, but this is being revised to allow for a steady liquidation of the Trust's portfolio as the decision to spend out is implemented. In accordance with the Trust's ethical investment policy, no investments are made in companies engaged in producing material of a pornographic nature or whose core business is gambling or the production or distribution of alcoholic products.

Grant Policy

The Trustees' grant-making priorities are reviewed on an annual basis but they have not as yet seen any need to change the broad terms of reference within which they have operated since the formation of the Trust; they therefore continue to support charitable projects the primary purpose of which is to advance the Christian religion or to relieve poverty, both in the UK and overseas. In doing so, they confirm that they have referred to the Charity Commission's general guidance on public benefit. Grants largely fall into three main priority areas which are listed below, together with details of grants of 20,000 and above made within these categories: (i) grants to organisations seeking to promote Christian faith and values through evangelistic, educational and media activities at home and overseas; (ii) grants to organisations seeking to express Christian faith through practical action to relieve poverty and help those in need in the UK: those with disabilities, the homeless, the sick, families and young people, prisoners and ex-offenders; (iii) grants to organisations working to relieve poverty overseas, with a particular emphasis on helping children who are vulnerable or at risk. In order to assess the effectiveness of the grant-making programme all recipients of grants above 5,000 are asked to provide a report twelve months after the grant has been made, describing briefly how the grant has been spent and commenting as appropriate on what has been achieved. For larger and multi-year grants more detailed reports may be required. Most of the larger grants are only paid following the fulfilment of certain conditions, and some grants are paid in instalments, usually over three years. Where a grant is paid in instalments it is the trustees' usual practice not to release payment of the second and subsequent instalments until a review of progress has been satisfactorily completed. As the grant-making process is largely reactive rather than proactive it should be noted that any fluctuation in the level of grants funded across these areas of interest is a reflection of the applications received rather than a change in the Trustees' priorities, and this is also true of the geographical spread of grants made. However, as indicated last year, the Trustees are now in the process of devising a strategy for 'spending out' the endowment by the end of 2020.


The Trustees meet four times a year to consider recommendations for, and make decisions on, the award of grants over 10,000. The Trustees have delegated power to make grants of 10,000 and below to the Trust Director up to a maximum of 100,000 in any one quarter; these grants are made on an ongoing basis and ratified by the Trustees at their quarterly meetings. The day to day administration of grants and the processing of applications prior to consideration by the Trustees, including meetings with applicants and project visits where larger grants are contemplated, have also been delegated to the Trust Director, who is supported by a small team of staff.

General Review

The Maurice & Hilda Laing Charitable Trust was established in 1996 by Sir Maurice Laing with funds made available from the Maurice Laing Foundation. The Trust's objectives, as set out in the Trust Deed, are the advancement of the Christian religion in any part of the world, the advancement of religious education in accordance with the principles and doctrines of the Christian faith, the relief of poverty throughout the world and the protection and preservation of health and relief of sickness and mental and physical disabilities. These are achieved through the Trust's grant-making programme, which is its only charitable activity.

33 Bunns Lane
Mill Hill

Tel: 020 8238 8890
Fax: 020 8238 8897

CC number: 1058109

Performance Guide Rankings

investment assets 328 / 1000
investment income 252 / 995
return on investments 226 / 995
investment management costs 271 / 743
inv mgmt costs as % of inv assets 403 / 743

inv mgmt costs as % of inv income 498 / 743
investment property - / 361
income from investment property - / 325
inv property inc as % of investment property - / 225

income from listed investments - / 661
income from short-term investments 652 / 726
listed investment inc as % of inv income - / 661
short-term investment assets 457 / 988

legacy income - / 226
grants received - / 88
total voluntary income 189 / 628

grants made 115 / 668
charitable expenditure - / 638
charitable expenditure as % of total expenditure - / 335
support costs 136 / 230
management & administration fees 576 / 970
audit fee per £m of income 896 / 949

total incoming resources 372 / 1000
total resources expended 418 / 1000
total assets 400 / 1000
period ending 2010 2011
legacies - -
grants - -
other voluntary income 0.00 3.84
total voluntary income 0.00 3.84
activities, furtherance of charities objects - -
activities for generating funds - -
trading subsidiaries - -
sales and fees from operating activities - -
investment property - -
dividends - -
total listed investments - -
income from subsidiaries - -
interest on cash & short term inv 0.00 0.00
total investment income 1.55 1.43

fundraising costs - -
investment management costs 0.09 0.09
Investment costs 0.09 0.09
cost of generating funds 0.09 0.09
grants paid 2.50 3.36
support costs - HR and finance 0.07 0.08
management and admin 0.03 0.03
total charitable expenditure 2.61 3.48

ASSETS £m £m
intangible assets - -
tangible fixed - -
equities - -
bonds - -
investment assets 33.10 34.41
other fixed assets - -
total fixed assets 33.10 34.41
stock - -
debtors 0.02 0.00
cash 0.96 2.00
current assets 0.98 2.00
bank loans & overdrafts - -
trade & other creditors, accruals 0.04 0.04
creditors falling due within one year 0.04 0.04
net current assets 0.94 1.96
loans - -
future long-term grant commitments - -
trade creditors - -
subsidiary & associated undertakings - -
creditors falling due after one year - -
provisions for liabilities and charges - -
TOTAL ASSETS 34.04 36.37

ASSETS £m £m
income funds - -
endowment funds 34.04 36.37
restricted funds - -
TOTAL FUNDS 34.04 36.37