Annual Review 2012/13
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A new charity based on long tradition.
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Click here to download (pdf/3.12mb)Overview
A new charity
Lloyd's Register Foundation is a new charity, set up In 2012. We fund the advancement of engineering-related education and support work that enhances safety of life at sea, on land and in the air. We are funded by the profits of our trading arm, Lloyd's Register Group Limited, a professional services organisation working mainly In the transportation and energy sectors, which also delivers part of our charitable objects.
A public benefit history
The history of our name dates back to 1760 through our trading group, with its long tradition of public benefit.
Safety has been at the heart of Lloyd's Register's work since 1760. In that year, 11 men met in Edward Lloyd's coffee house to talk about publishing a list of ships, a register to define their quality and safeguard life and property carried on them. In the years since then, Lloyd's Register has applied its expertise across the energy and transportation sectors, helping to make the world a safer place.
Lloyd's Register's constitution required it to enhance the safety of life and property at sea, on land and in the air. Further, it required the organisation to support public education within the transportation industries, engineering and technological disciplines. For many years, it made funds available for this purpose. In 2004, to bring a sharper focus and greater professionalism to its charitable work, it set up the Lloyd's Register Educational Trust (LRET) to fund advances in transportation, science, engineering and technology education, training, and research worldwide for the benefit of all. During an eight-year period the LRET received over £55 million from Lloyd's Register.
In 2012, Lloyd's Register recognised a change in structure was needed to meet the evolving law around public benefit. It decided to create a new parent foundation while converting itself from an industrial and provident society to a company limited by shares called Lloyd's Register Group Limited, with all shares owned by the Lloyd's Register Foundation. This change in status was duly effected on 2 July 2012, with the help and support of the Charity Commission, Companies House, the Financial Services Authority and HM Revenue & Customs. With the change in structure of Lloyd's Register, and its ownership by a registered charity, the trustees of the LRET also resolved to transfer its assets and liabilities to the Lloyd's Register Foundation with effect from 1 March 2013, as the best way of furthering the LRET's objects.
Importantly, the objectives and mission of the Foundation remain the same as those of Lloyd's Register previously, to protect life and property and to advance transport and engineering education and research...because life matters.
Contents
Chairman’s Statement
Overview of the Foundation’s first year, its formation, and focus on future societal challenges - from Thomas Thune Andersen.
New Charity Based on Long Tradition
Details the organisation's historical roots and its transformation into a modern charity focused on engineering safety.
Managing Director’s Review
Highlights the Foundation’s progress in strategy, governance, and grant making activities to address global safety issues.
Structured for Best Practice
Explains the Foundation's governance framework and how its trustees ensure alignment with charitable objectives.
Objectives and Strategy
Outlines our mission to enhance public safety and education through four research and thematic areas.
Impact and Excellence
Summarises the Foundation’s key achievements in advancing critical infrastructure safety through research and education.
Research
Focuses on the funding of research consortia, centres of excellence, and the long-term benefits for society.
Inspiring the Next Generation
Describes the Foundation’s efforts to engage young people with science and engineering through educational outreach programs.
Nurturing Exceptional Scholars
Details the scholarships and bursaries provided to exceptional students in engineering and science.
Helping Those in Work to Enhance Their Knowledge and Skills
Highlights the Foundation’s support for vocational training and professional development in engineering and technology fields.
Life Matters
Focuses on programs that enhance safety in transportation and engineering, especially in high-risk environments.
Enhancing Public Understanding in Marine and Engineering Science and History
Describes the Foundation’s commitment to maintaining the Lloyd’s Register Library and promoting marine and engineering history.
Citation
Example Citation in Harvard Style:
Lloyd's Register Foundation (2014) Lloyd's Register Foundation Annual Review 2012-13. Lloyd's Register Foundation.
Download the Annual Review
Annual Review 2012/13
The first Annual Review from the Lloyd's Register Foundation. (PDF, 3.12MB)