The Lady Cynthia Charity (charity number 312800-3) (the “Charity”) is one of four charities that are linked for charity registration and accounting purposes and share The Walcot & Hayle’s Trustee as their corporate trustee, which are known collectively as The Walcot Foundation. The three other charities have charitable objects that overlap with those of the Charity.
The Charity is much smaller than the three other charities. The capital value of the Charity at 31 March 2023 was £1.496 million and the income that was generated by the Fund in the same financial year was £29,000. The assets of the Charity comprise permanent endowment, meaning that the capital must be preserved and only the income can be spent. The Governors propose to pass a resolution using a power under section 282 of the Charities Act 2011 to enable the capital of the Charity to be expended as well as the income. This is for a number of reasons, including:
The Governors are required to consult with relevant stakeholders on the proposed change in order to meet Charity Commission requirements. If you have any comments or queries on the proposal, please send them to Marcia Asare by email at [email protected], or by post to 127 Kennington Road, London SE11 6SF, to be received by 5pm on 15th July 2024.
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