CHARITY NUMBER: 1006630
THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024

THE TEMPLETON EDUCATION AND CHARITY TRUST
CONTENTS
FOR THE YEAR ENDED 31 JULY 2024
Page
Legal and adminislralive informatlon
Report of Ihe Trustees
Auditor's raporl
statement of financlal acllvltl8s
Balance sheet
10
Notes to Ihe financial statements

THE TEMPLETON EDUCATION AND CHARITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 JULY 2024
Charlty number
1006630
Reglslered office
Green Ternpleton College
Woodstock Road
Oxford
OX2 6HG
Trustees
Mr. John W Scholt MD
Mr. John Webster
Mr. Robert Hughes-Penney
Mrs. Heather Templeton Dill
Or. Rory Knight
(appointed 18 August 2023)
(appolnled 18 August 2023)
Secretary to the Truste8S
Dr TIM Clayden OBE
Solicitors
Dechart
160 Queen Victoria Street
London
EC4V 4QQ
Inveslment Managers
Llndsell Train Llmiled
66 Bucklngham Gata
London
SWIE 6AU
Balllie Gifford & Co
Calton Square
1 Greenside Row
Edinburgh
EH13AN
Audllor
Wenn Townsend
30 St Giles
Oxford
OX13LE
Page 1

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their report and the audlted financlal statements of the charlly for the year ended
31 July 2024. The trustees have adopted the provisions of the Statement of Recommended Practic
(SORP) "Accounting and Reporllng by Charities" In preparing the annual report and financlal
statemenls of the charily,
Objectives and activities
The objective of the Trust is to pay or apply income and capital lo or for the charllles for such charitable
purposes in such proportions and in such manner in all respects as the Trustees may in thelr absolute
discretion think fil. In particular, the Trust seel<s to advance education in business management and
to advance religion.
In furtherancé of the above objectives the Trust supports Green Tampleton College (GTC). wllhin the
context of the College's Charter which specifies "further study, learning, educatlon and research wlthln
the Unlversity and to be a College whereln men and women may carry out advanced study and
research particularly in management studies, medical and life solences, 80Gial sciences and a range
of other subject areas approved by Ils Governing Body"
The Trust provldes flnance (the TECT programme) for -
scholarships for doctoral students in management and business
research activities of graduate students of the College
support grants for professional laught graduate students (students engaged on the MBA,
Execulive MBA, and Masters In Financlal Economics al the Said Business School)
academlc inltl8tives (recently funded initiatives have included a workshop on entrepreneurship
and Iralnlng for medical sludents and others working in the health syslem on Management In
Medicine)
hostlng and supporling academic visitors to lh8 College
Green Templeton College follows principles that fil with the Trust's values, particularly relating to the
furtherance of human wèlfare, equity and transparency, in raspe¢t of decislon maklng.
How has thè Trust trled to further the publlc beneflt alms7
The achievement of publlc beneflt lies in the academiG quality of th8 research of students and vlsitors
as well as the efflcacy with which Ihelr findlngs Inform the public debate. Publlc benefll also accruas
from the educallon of the graduate students, most of whom go on lo contrlbute slgniflcantly lo soclaty
in the UK and overseas.
The Trustees conflrm that they have complled with the duly in Secllon 17 of th8 Charities Act 2011
and have taken due regard of the Charity Commlsslon's general guidance on public benefll.
Implementation and Governance of the TEGT programme by Green Templeton College
The Chalr of the College's TECT committee is Dr Rlchard Cuthberlson {GTC Governing Body Fellow,
former member of Templeton College and senlor member of Ihe Sal'd Business School).
Olher members are Professorsue Dopson {S8id Business School and formerseniorm&mber ofTemplelon
College), Dr. Fellx Reed-Tsochas {Chalr of the GTC Academic Committee, member of Said Business
School and former member of Templeton College). And Dr Abrar Chaudhury (Research Fellow of Green
Templeton Collage and Said Buslness School)
Internally, the Committee raporls to the College's AcademlG Committee. The Prlnclpal of the College
has the responsibility for th6 dellvery of the programmè.
An annual I'eport Is submllted to the Trustees contalning the detalls of the use of the funds over the
previous twelve months and suggestlng how this might be adjusted in the forthcomlng perlod.
Page 2

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
strateglc framework
The Trusl's decisions are made withln a strategic framework agreed by the Truslees annually. Funds
are allocated on the basls of the agreed formula for their disbursement determined by the TECT
Trustees. The 2013 report to the Trustees specified that the dislributlon of funds should alm very
approximately for the following allocation:
student support
Academic Initiatives
Visitor programme
70°/0
22¥0
8¥.
All commitments must be funded out of the exlstlng cash b81ance held by th6 College, whlch benefits
from an annual income from the fund. A notional contribution of £250k per annum from the Trust has
boen used for indicatlv8 planning purposes, but It Is the actual cash balanca less existing
commltments that determin8S the funds avallable at any given tlme.
In Acknowledgement
The College remalns extremely grateful to TECT and to the Templeton famlly for thelr generous
support.
Plans for the future
The Truslees plan for Templeton Education and Charity Trust to conllnue, for the foreseeable future,
to support Green Templeton College, Oxford, in line wlth Its charitable objeclives.
structurep governanco and management
Organlsation
The Present membership of the Board of Trustees 18 set out on page 1.
The numb8r of Trustees shall not ba more than nln@ or lessthan thra6. The Trust allows for automatlc
reappointment of Trustees for a term of three years.
The dayto day running of the Trustls carried out for the Reglsterad Office and Is delegated through
the Trustees to the Secretary, Dr. TIM Clayden OBE,
Trustees, recruitment and trainlng
The appointer (a Committee of the eldest sul lurls bloodlln8 descendants of the Founder) screens
proposals received from existing Trustees and members of the Governing Body of Green Templeton
College and has the power to appolnl new Trustees. New Truslees are selected based on their
knowledge and exparience in the charity sector, investment managemenl and business community.
The appointer seeks to ensure a mix of experience and knowledge is maintained within the Board of
Trustees.
On recruitment, new Trustees receive an Information paclc detailing Ihe background of both Green
Templeton College and th8 Trust. On-going training is provided through th8 disseminallon of
information identifled by the Sècrolary to tha Trustees, typlcally through the fact sheets provlded by
the Charily Commission.
Page 3

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Investment powers and restrictions
The TrLfStees have the power, in accordance wilh Ihe Trust deed, to Invest in such stocks, shares and
Inveslmenls as, In their absolute dlscretion. they think fil. The Trustees appoint an Investment advlser
on a yearly basis whose duly it is lo review the Inv8Stmenl porlfolio of the Trust and to report thereon
and make recommendations al the annual Trustees, meeting.
The following investment policy, which is unchangad from the previous year, Is as follows:
To invest prlmarily to generate Income and thereafter maximise total return wlth a target of
Improvlng on, or at leasl over a reasonable perlod, matching a benchmark of RPI +3 %
To bear In mind the need for prudent dlverslfication of Investment risk.
There have been no changes lo the investment managemont arrangements during the year.
Achievements and performance
Investment performance
At 31 July 2024 a total of £5,553,788 (2023.. £5,343,083) was held wlth Investment managers, which
represents an increase in valu8 of £183.971 (2023.. Increase £365, 123) in the investments value over
the year.
No monies were held as cash awaiting investment.
Financlal Performanc8
In agreement with the Trustees and Green Templeton College, no gr8nls were made from the fund to
Coll6g8 in Ihe year. Instead the College drew on the funds it holds on balance from previous years.
Of this £126,000 Is already committed to ongoing DPhll student support and research grants.
Fundlng
The Trustees are satisflod that the Trust's assets attributable to each of its individual funds are
avallable and adequate to fulfil its obligations in relatlon to those funds.
Page 4

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Risk assessment
Therislisto which theTrustisexposed havebeen identlfied bytheTrusteesandthe processof review
is carried out annually. The Trustees ensure that steps are talcen to mitigate the major risks
idenlified. It is recognised that implementation of controls and appointment of professional advisers
can onlyprovide reasonable assurance that major risks have been adequately m8naged.
Re5enies
The Trust aim8 to spend 811 its fre8 (non-endowment) funds evéry period in support of its direct
charilable expenditure. The endowment funds are expendable and can therafore be used to provide,
as in pravlous years, for the excess of the Trust's expendlture overinGome.
Whllst the Trustees wish to contlnue Ihe Trust's activltl8s at curr8nt level, they are mlndful that any
decrease In the endowment will lead to a futur8 decrease In the income generated by the endowmenl.
Therefore, the Trustees will continue to try and fund the expenditure of the Trust from the income
generated and only draw on the endowment when necessary to meet the Trust's deslre to suppori its
current. sole beneficiary.
Statement of Trustees, Responsibilities
The Trustees are responsible for preparlng the Trustees, Report and Ihe accounls in accordance wilh
applicable law and Unlled Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Charlty law requlr8S tha Trustees to prepare accounts for each financlal period which glvea tru6 and
fair vi8w of th6 stale of affairs of the Trust and of the surplus or deflclt of the Trust for that perlod. In
preparing thos8 accounts, the Trustees are required to-
selecl sultable accounting policies 8nd apply Ihem conslstently;
obs6rve th8 methods and prinGSples in the Charities SORP 2019 (FRS 102);
makejudgements and estimates that are reasonable and prudent.,
stale whelher applicable accounting standards and statements of recommended practice have
been followed. subject to any deparlures disclosed and explained in the financial statements; and
prepare Ihe accounts on the going-concern basis unless it is Inappropriata to presume Ihat the
Trust will Continue in operatlonal existence.
The Trustees are responsible for keeping proper 8ccounting records that disclose wllh reasonable
accuracy at any lime the financial position of the charily and enable them to ensure that the accounts
comply with th8 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe
provisions of the Scherne which governs the Charlty. They are also responsible for safeguarding the
assets of the Charity and hence for taking reasonable steps for Ihe prevention and deteclion of fraud
and other irregularltles.
Thls report was approved by the Trustees on 161h December 2024 and slgned on Its behalf by:
Mr. John Webster
Trustee
Page 5

INDEPENDENT AUDITOR'S REPORTTO
THE TEMPLETON EDUCATION AND CHARITY TRUST
We have audlled the financial slalements of The Templeton Education and Charity Trust {'Ihe charlly'l for Ihe
year ended 31 July 2024 which comprise the Slalement of Financial Activities. Balance Sheet and notes lo the
financlal slalement8, including significant a¢counllng policies. The financial reporting framework that has been
applled in Ihelr preparation is applicable law and United Klngdom Accounting Standards, Including Financial
Reporting Standard 102 The Financlal Reportlng Standard applicable In the UK and Republlc of Ireland {Uniled
Klngdom Generally Accepted Accounting Practice).
In our oplnlon the financlal statements:
giv6 a true and fair viow of the slatg of the charlty's affalrs as at 31 July 2024 and of Ils Income and
expondlture, for the year then ended;
have been properly preparad in accordance with United Kingdom Generally Accepted Accounting Practice:
and
have been prepared In accordance with the requirements of the Charitles Act 2011.
Basis for oplnion
We conducted our audit in accordance wllh Internallon81 Standards on Auditing (UK) {ISAs {UKI) and applicable
law. Our responsibilities under Ihose slandards are further described in the Auditor's responsibilities for the audil
of the financial stalements sectlon of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of Ihe financi81 statements in the UK, includlng the FRC'S Ethlcal
Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We
believe that Ihe audit evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the flnancial statements, we have concluded that the trustaas use of the going concern basls of
accounting In the preparatlon of the financial statements IS 8pproprlat6.
Based on tha work we have performed, we havo not identlfied any material uncertalnli8s relating to events or
conditions that, individually or collectively, may cast signlflcant doubt on the charlty's ablllty lo contlnue as a
golng conc8rn for a perlod of al188St twelve months from when the financial stalemonls are authorlsed for issua.
Our r6sponsibllilies and the responsibllllles of the Irus1688 Wlth respect to golng concern are descrlbed in th8
relevant seGlions of this report.
other Informatlon
Thè trustees are responslble for the other informatlon contaln8d wilhln the annual raport. The other Informallon
comprlses the informatlon Included In the annual report, other than the financial statements and our audllor's
report Ihereon. Our oplnion on the flnancial statements does not cover the other Informatlon and, except to the
exlenl othe￿1$6 explicitly slated In our reporl, we do not express any form of assurance concluslon thereon.
Our r6sponsibility Is lo read tho other informatlon and, In dolng so, Consider whether the other Information Is
materially inconsislenl with the financial slalemenls or our knowledge oblalned in the audit or otherwise appears
to be materially misstated. If we Idenllfy such material inconslstencies or apparent material mlsslalements, we
are required to delermlno whether this gives rise lo a material misstalemenl in the financial slalemenls
themselves. If, based on the work we have performed, we conclude that there is a Material misstatemenl of this
olher information, we are required to roporl that fact,
We have nolhlng to report in Ihls regard.
Page 6

INDEPENDENT AUDITOR'S REPORT TO
THE TEMPLETON EDUCATION AND CHARITY TRUST
Matters on which wa are required to report by exceptlon
We have nothlng to report In respect of Iha followlng matters In relation to whlch the Charlties (Accounts and
Reports) Regulations 2008 requlr6S US to report to you If, In our opinlon:
(he information glven in the flnancial statements is Inconslslenl In any malerlal respect wllh Ihe trustees,
report. or
8ufficienl and proper accountlng records have not been kept by the charity, or
the financlal slat8ments are not In agreement with the accounting records and returns., or
wè have not recelved all tha information and explanations we requlre for our audil.
Responsiblllties of trustees
As explained more fully in the trustees, responslbilities statement sel out on page 5, Ihe Irustees are responsible
foi- Ihe preparation of Ihe financial statements and for being satisfied that they give a true and fair view, and for
such intern81 control as the trustees determine Is necessary to enable the preparation of financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, Ihe truste8s are responsible for assessing the charily's ability lo conllnue
as a golng concern, disclosing, as applicable, matters related to going concern and uslng Ihe golng concern
basis of accounting unless Ihe Irustees either intend to liquidate the charity or lo cease operalions, or have no
realistic alternalive but to do so.
Auditor's responsibllitles for the audlt of the financial statements
We have been appolnted as audltor under section 145 of Ihe Charlties Act 2011, and report In accord8nGe wllh
Ihe Acts and relevant regulations made or having effect Ihereunder,
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatament, whether due to fraud or 8rror, and to issue an auditor's report that includes our
opinion. Reasonable assurance is 8 high level of assurance, but is not a guarantee Ihat an audlt conducted in
accordance wlth ISAS (UK) wlll always detect a materlal misstatement when It exists. Mlsslatements can arlse
from fraud or error and are considered material If, indlvidually or In the aggregate, they could reasonably be
expected to Influence thè economlc d8cislon8 of users taken on the basls of these Itnancial stat8ments.
Detalls of th6 extent to whlch the audlt was consldered capable of d6tècling Irregularllles, Includlng fraud and
non-compliance wlth laws and regulatlons are set out below.
A further descrlptlon of our responslbllltles for the audit of the financlal statements Is located on the Financial
Reporting Council's webslte al: ww.frc.or
.uklauditorsres
onsibililies, Thls descrlpllon forms part of our
auditor's report.
Extent to whlch Ihe audit was considered capable of detectlng irregularlties, includlng fraud
Irregularlties, includlng fraud, are instances of non-compliance wlth laws and regulatlons. We Idenllfied and
assessed the rlsks of materlal mlsstatemenl of the flnancial statements from Irregularillas, whether duo to fraud
or error, and discussed these belween our audit team members. We then deslgned and performed audit
procedures responsive to those risks, including obtaining audil evidence sufficient and appropriate to provlde a
basls for our opinion.
We oblalned an understanding of the legal and regulatory frameworks wlthln which the charity operates.
focusing on those laws and regulations that have a dlrecl effect on the de18rmination of material amounls and
disclosures in the financial slatemenls. The laws and regulallons we consldered in this context were the
Charities Act 2011 together with the Charllles SORP IFRS 102). We assessed the required compliance with
Ihes8 laws and regulallons as part of our audit procedures on the related financial stalemenl items.
In addition, we considered provislons of other laws and regulations th81 do not have a direct effect on the
financlal slalements but compliance with which might be fundamental to the charlty's ability lo operate or to
avold a material penalty. We also consldered the opporlunllles and Incentlves that may exlsl within Ihe charity
for fraud. The laws and regulations we consldered In thls context for its operations were General Data Protection
Regulation and Taxallon legislalion.
Page 7

INDEPENDENT AUDITOR'S REPORT TO
THE TEMPLETON EDUCATION AND CHARITY TRUST
Audlllng standards limlt the requlred audlt procedures to Identify non-compllance wllh these laws and regulallons
to enqulry of the Trustees and other management and inspectlon of regul8tory and legal correspondence, if any.
We Identified the greatest risk of material impact on the financlal stataments from irregularltles, Includlng fraud,
lo be withln the recognition of income and the overrlde of conlrols by management. Our audlt procedures to
respond lo Iheso risks included enqulries of management about their own idenlificallon and assessrnenl of the
risks of Irregularllies, sample testing on the posllng of Journals, ravlewing accounting eslimales for blases,
sample testing of income Iransactlons to supporting documentation and reading Minutes of moetlngs of those
charged with governance.
Owlng lo the Inherent limitations of ali audit, there is an unavoldable rlsk Ihat we may not have detected some
material misslatemenls in the flnancial slatemenls, even though we have properly planned and performed our
audit In accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations {Irregularities) is from the events and transactions reflected in the flnancial slalemenls, the less likely
the inherently limited procedures required by auditing standards would idenllfy it. In addition, as with any audll,
there remalned a higher risk of non-deteclion of irregularllies, as these may involve collusion, forgery, intentlonal
omisslon8, misrepresentations, or the ov8rride of Snlernal controls. We are not responsible for prevenling non-
compllance and cannot be expected lo delecl non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance wlth Part 4 of the Charlties
(Accounts and Reports) Regulations 2008. Our audlt worl( has been undertaken so that we mlghl state to the
charlty's trustees those matters we are required to state lo them in an auditor's report and for no other purpose.
To the fullast extent permltted by law, we do not accept or assume rosponsibilily to anyona other than the charity
and the charity's trustees as a body, for our audit work, for this roport, or for the opinions we have formed.
Wenn Towiisend
statutory Audllor
Oxford
171D2/zog<
Wenn Townsend is eliglble for appoinlrnenl 8s auditor ol Ihe charfly by vlrtuts of Ils ellglbillly lor appolntmenl as audllor of a conipany
under seclion 1212 01 tlie Compani8s Act 2006.
Page 8

THE TEMPLETON EDUCATION AND CHARITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2024
Notes
Unrestrlcted Endowment
Funds
Funds
31 July
31 July
2024
2024
Total
Funds
31 July
2024
Tofal
Funds
31 July
2023
Income from:
Gifts in kind
Investment income
276
Total Incomè
276
Expenditure on:
Charitable activlties
Total expendlture
Not galnsl(loss6s) on
inv8slmenls
183 971
365 123
182 070
365,123
Net incomel(expenditure)
Transfers between funds
2,177
2Q8,528
210,705
Net movement in funds
2,177
208,528
210,705
365,123
Reconclliation of funds:
Tot81 funds brought fonmard
Total funds carried forward
28
All of tho above results are derived from continulng activltles. All galns and losses recognlsed in the
period are included above.
Page 9

THE TEMPLETON EDUCATION AND CHARITY TRUST
BALANCE SHEET
(CHARITY NUMBER: 1006630)
AS AT 31 JULY 2024
Notes
2024
2023
Fixed assets
Investments
5,553,788
5,343.083
Credltors: amounts falllng
due within one year
Net current
assetsl(liabilitles)
Total net assets
11
yi
Funds
Endowment funds
Unrestricted funds
5,496,378
5,28T,850
Total funds
The financial stalamenls were approved and 8ulhoriz&d for Issue by tha Board of Trustees on
161h December 2024 and signad on thelr behalf by..
Mf. John Webster
Trustee
The Templelon Education and Charity Trust
The notos on pages 1110 14 form an integral part of these financi81 statements
Page 10

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ACCOUNTING POLICIES
1.1 General informatlon and basls of preparation
The Templeton Education and Charity Trust is a Gharitable Irust in England I Wales. The
address of the principal office and the nalure of the charlly's operalions and principal activilies
are included in the Truslees Report earlier In this documenl.
The charlty constllutes a public benefit entlty as defined by FRS 102. The financlal
statements have been prepared in accordance with Accountlng and Reporting by Charllles..
statement of Recommended Practlce applicable to charltles pr8pa¥lng their accounts in
accordance wilh the Financial Reporting Standard applicable in the UK and Republic of
Ireland issued in October 2019, the Financial Reporting Standard appllcable in the United
Kingdom and Republic of Ireland {FRS 102), Ihe Charlties Act 2011, and UK Generally
Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the hislorlcal cost
Convention, modified to include certain ilems al fair value. The flnancial statements are
presented in sterling which Is the functional currency of Ihe charity. The signiflcant accounting
policies applied in the preparation of these financial slatements are sel out below. These
policies have been conslslently applied lo all years presented unless otherwlse stated.
1.2 Golng concern
The Irustees have considered the funding requirements for the charlty and belleve there ar8
no material uncertalnties over the charlly's ability to continua in operallon for the foreseeabla
futur8.
1.3 Income recognltlon
All Incomlng resources are included on the Statem8nt of Financlal Actlvltles when tha charlty
is legally entitled to the incom8 and the amount can be quantified with reasonable accuracy.
1.4 Expenditure recognitlon
Costs are accounted for on an accruals basis and are included under the appropriate
category.
Grants are recognlsed in expendlture when a commilment has been made and Ihls has been
communicated and agreed wilh the beneficiary.
1.5 Investments assèts
Assets held for investment purposes are valued at market value at the Balance Sheet date.
Net gairbs and losses arlsing on revaluation and disposals during the pèrlod are Included in
Ihe Statement of Financial Actlvilies.
1.6 Liabilltles
Llabllilies are recognlsed as soon as there is a legal or conslru¢llve obllgallon to commllllng the
Trust lo the expenditur&
Page11

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ACCOUNTING POLICIES (cont.)
1.7 Fund accountlng
Expendablo endowm6nt fund
The endowment fund represanls those assets whlch the Trustees are requlred lo hold as
capital. The terms of the present endowment are that It Is an expendabla endowment and
therefore In cerlaln clrcumstances the endowed fund may be spent at the dlscretion of the
Trustees.
The expendable endowment fund Is held to support Green Templeton College through the
mal(ing of annual and other granls. On each fifth anniversary of the grant date (last date
being 31 December 2022), the value of the expandable endowment fund is averaged. If 50
of the value so taken exceeds the amount actually paid lo the College over the previous five
years, the surplus will be transferred lo a deslgnaled fund. The designated fund is then
avallable, at the Trustees, discretion, for emergencies or for the costs of developing new
programmes at Green Templeton College, The trustees reserve the right to not formally
transfer funds into thls deslgnated fund, followlng a quinquennial review.
Unrestricted funds
Unreslrlcted funds represent Income recalved or generated for expendlture on the general
obleclives of th8 Trust.
Deslgnatad funds are unrestrlcted funds which have been designated for speclfic purposes
by the Trustees.
2. TOTAL EXPENDITURE
2024
2023
Charltable actlvltles
Grants payable to Green Templeton College, Oxford
INVESTMENTS
2024
2023
Market value at 1 Augusl
Purchases
Nel (loss)Igain on revaluations
5,343,083
26,734
183 971
4,977,960
365 123
Valu8 al 31 July
FUNDS
Tha unreslrlcled funds are funds available to the Trustees to apply for the gen&ral purposes of the
Trust as set out In Its governlng document. Income generated from the assets In the fund is unreslricled
Income.
Page 12

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at 31 July 2024 are represented by:
Unrestrlcted Endowment
funds
Funds
Total
Funds
2024
,Inveslments
Current liabllilies
57,410
11
5,496,378
5,553,788
11
Total net assets
2023 Comparatives
Unreslrlcted
funds
Endowment
Funds
Total
Funds
2023
Investménts
Current liabllltl8S
55,233
11
5,287.850
5,343,083
Tot81 net ass8t8
TRUSTEE REMUNERATION
None of the Trustees recelved remuneration or were reimbursed for expenses durlng Ihe period (2023..
£nil).
RELATED PARTY TRANSACTIONS
Mr. John Websler is a Iruslee of Gre8n Templelon Collegp as well as thls charity. Consequenlly,
Green Templeton College is a related party. There is an £11 Cf8dilor with th8 College as at 31 July
2024 (2023: £11),
In addltlon, the cost of professlonal fees for thls charity were borne by Green Temploton College. Total
costs relaling lo the year end under review were approxlmalely £5,400. of whlch £2,400 (including
Irrecovèrable VATI related lo the preparation of the accounting records and preparation of Ihe Statutory
accounts, and £3,000 (Including irrecoverable VAT) for the audit of the statutory accounts (2023..
£11,700 in total).
There were no other related party transaGllons in Ihe period,
Page 13

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
CONTINGENT LIABILITIES
There were no conllngent Ilabilllles as al 31 July 2024 (2023: £nll)
CAPITAL COMMITMENTS
There were no capltal Commitments as at 31 July 2024 (2023.. £nlll
10. CHARITY INFORMATION
The charlty is unlncorporated. The reglslered offlce of the charity Is Green Templeton College, 43
Woodstock Road, Oxford, OX2 6HG.
Page 14

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
I I. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 July 2023
Notes
Unrestricted Endowment
Funds
Funds
31 July
31 July
2023
2023
Total
Funds
31 July
2023
Income from:
Gifts in Kind
Total return allocated to Income
Total Income
Expendlture on:
Charilablo activities
Total expendlture
Net galnsl{losses) on
inveslments
361 349
365 123
Net Incomel{expendlture)
3,774
361,349
365,123
Transfers botween funds
Nel movement in funds
3,774
361,349
365,123
Reoonclllation of funds:
Total funds brought fO￿ard
4 926 501
4 977 949
Total funds carried forward
Page 15

CHARITY NUMBER.. 1006630
THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024

THE TEMPLETON EDUCATION AND CHARITY TRUST
CONTENTS
FOR THE YEAR ENDED 31 JULY 2024
Page
Legal and administrative Information
Report of the Trustees
Auditor's report
Statement of financlal acllvllles
Balance sheet
10
Notes to the financial slalements
11- 15

THE TEMPLETON EDUCATION AND CHARITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 JULY 2024
Charlty numbar
1006630
Reglslered office
Green Templeton Colleg8
Woodstock Road
Oxford
OX2 6HG
Trustees
Mr. John W Schotl MD
Mr. John Webster
Mr. Robert Hughes-Penney
Mrs. Heather Templeton Dill
Dr. Rory Knlght
(appointed 18 August 2023)
(appointed 18 August 2023)
Secretary to the Truste8S
DrTlm Clayden OBE
Solicltors
Dechert
160 Queen Victoria Street
London
EC4V 4QQ
Inveslment Managers
Llndsell Train Llmited
66 Bucklngham Gata
London
SWfjE 6AU
Baillie Glfford & Co
Calton Square
1 Greenside Row
Edinburgh
EH13AN
Audltor
Wenn Townsènd
30 St Gllos
Oxford
OX13LE
Page 1

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their report and th8 audited financlal stalem6nls of the charlly for the year ended
31 July 2024. The trustees have adopted the provisions of the Statement of Recommended Practic
(SORP) "Accountlng and Reporling by Charilles" in preparing the annual report and financial
statements of the charily.
Objectives and activitles
The objectlve of the Trust Is to pay or apply income and capital lo or for the charitles for such charitable
purposes in such proportlons and In such manner in all respects as the Trusloes may in their absolule
discretion Ihlnk fit. In particular. the Trust seeks lo advance education in business management and
to advance religlon.
In furtherance of the above oblectives the Trust supports Green Templeton College {GTC), wlthln the
context of the College's Ch8rter whlch specifles "further study, learning, educatlon and research wilhln
the Unlverslty and lo be a College whereln men and women may carry out advancad study and
research particularly in management studies, medical and life sclances, soclal sciences and a range
of other sublecl area8 approved by its Governing Body"
The Trust provldes finance (the TECT programme) for-
scholarships for doctoral students in management and business
research aclivllies of graduale students of the College
support grants for professional taught graduate students {students engaged on the MBA,
Executive MBA, and Masters in Financial Economics at the Said Business School)
academlc initiatives (recently funded initiatives have Included a workshop on entrepreneurship
and Iralnlng for medical sludents and others working In the health syslem on Management In
Medicin8)
hosting and supporting academlc vlsitors to the College
Green Templeton College follows prlnciples Ihat fil with the Trust's values, particularly relallng to the
furtherance of human walfare, equity and transparency, in respect of decision making.
How has the Trust tried to further the publlc benoflt alms7
The achlevement of publlc benefit lies in the academic quality of the research of students and vl8llors
as wéll as the efflcacy wllh whlch th8ir flndlngs inform the publlc debate. Publlc benefit also accrues
from the educatlon of th8 graduate students, most of whom go on to contrlbute slgniflcantly to soclaly
in the UK and overseas.
The Trustees confirm thal they have complied wlth the duty in Section 17 of the Charltles Act 2011
and have taken due regard of the Charity Commlssion's general guidance on publlc b8nefil.
Implementatlon and Governance of the TECT programme by Green Templeton College
The Chair of the College's TECT committee is Dr Richard Culhberlson (GTC Governing Body Fèllow,
former member of Templeton College and senior member of the Said Business School).
Other members 8re Professor Sue Dopson {Said Buslness School and formersenior member ofTemplelon
College), Dr. Felix Reed-Tsochas (Chair of the GTC Academic Committee, memb8r of Sald Buslness
School and former rnember of Templeton College). And Dr Abrar Chaudhury (Research Fellow of Green
T6mplelon College and Said Buslness School)
Internally, the Commlllee I'eporls lo tho College's Academlc Commlllee. The Prln¢lpal of the College
has the responsiblllly for the d8llvery of the programme.
An annual report Is submltted lo the Trustees contalnlng the deta518 of the use of tha funds over the
pr8VlOUS twelve months and suggesting how this might be adjusted in the forthcomlng period.
Page 2

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Strateglc frarnework
The Trust's decislons are made wlthin a slrategic framework agreed by the Truslees annually. Funds
are allocaled on the basis of the agreed formula for their dlsbursement determlned by the TECT
Trustees. The 2013 report to the Trustees specified that the dislributlon of funds should alm very
approximately for the following allocation:
Student support
Academic Initiatives
Visitor programme
All commltments must be funded out of the exlstlng cash balance held by the Collége, whlch beneflts
from an annual Income from the fund. A notlonal contrlbutlon of £250k per annum from th8 Trust has
baen used for Indicatlve planning purposes, bul It Is the actual cash balanco less existing
commitments that determln85 the funds available at any glven tlme.
22°/0
In Acknowledgement
The College remalns extremely grateful to TECT and to the Templeton famlly for thelr generous
supporl.
Plans for the future
The Trust8es plan for Templeton Education and Charity Trust to conlinue, for the foreseeable fulure,
to support Green Templeton College. Oxford, In Ilne with its charitable objectives.
structure, governance and management
Organlsation
The Presenl membership of the Board of Trustees is set out on page 1.
The number of Trustees shall not be mor8lh8n nine or lessthan three. Th8 Trust allows for automatlc
reappointment of Trustees for a term of Ihree years.
Th8 dayto day runnlng of the Trustls carrled out for th8 Registared Office and Is dèlegated through
the Trustees to th8 Secretary. Dr. TIM Clayden OBE.
Trustees. recruitment and training
Th@ appointer (a Gommlltee of the eldest sul jurls bloodline descendants of the Founder) screens
proposals received from existing Trustees and members of the Governing Body of Green Templeton
College and has the power to appolnt new Truste8s. N8w Trustees are selected based on their
knowledge and experienoe in the charily sector. investment management and business communlty.
The. appointer seeks to ensure a mix of experience and knowledge Is malnlained wilhin the Board of
Trustees.
On recruitment, new Trijslees receive an information pack detailing the background of both Green
Templeton College and the Trust. On-going training is provlded through the dissemination of
information identified by the Secretary to th8 Trustees. lyplcally through the fact sheets provided by
lh8 Charity Commisslon,
Page 3

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Investment powers and restrictlons
The Trustees havo the power, In accordance wllh th8 Trust deed, to invest in such stoclcs, shares and
Investments as, In their absolute discretion. they Ihlnk fil. The Trustees appolnl an Investment adviser
on a yearly basis whose duty il is lo revlew the inveslmenl portfolio of the Trust and to report thereon
and make recommendations al Ihe annual Trustees, meeting.
Th8 following invastmenl policy, which is unchanged from the previous year, Is as follows,.
To invest prlmarily to generat8 Inoome and thereaftèr maxlmlse total return wllh a target of
Improving on, or at leasl ovei. a reasonable period, matchlng a benchmark of RPI +30/0
To bear In mind the need for prudent diverslficalion of Investment rlsk.
There have been no changes to the investment managemenl arrangements during the year.
Achievements and performance
Investment performance
At 31 July 2024 a lotal of £5,553,788 (2023.. £5.343,083J was held with investment managers, which
represents an increase in value of £183,971 (2023.. Increase £365, 123) in thé investments value over
the year.
No monl8s were held as cash awaiting investment.
Flnancial Performanco
In agreement wlth the Trustees and Greon Templeton College, no grants were made from the fund to
College in the year. Instead Ihe College drew on the funds it holds on balance from previous years.
Of this £126,000 Is already commilled lo ongolng DPhll student support and research grants.
Funding
The Trustees are satisfied that the Trusl's assets attrlbulable to each of Ils Individual funds are
available and adequate lo fulfil ils obligations in relalion to those funds.
Page 4

THE TEMPLETON EDUCATION AND CHARITY TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024
Rlsk assessment
Therisksto which the Trustisexposed havebeen identified bytheTrustees andtheprocessof review
is carried out annually. The Trustees ensure that steps are tal<en to mitigate the major risks
Identified. It is recognised that implementation of controls and appointment of professional advisers
Can onlyprovide reasonable assurancethat major rlsks have been adequately managed.
Reservès
The Trust aims to spend 811 its free Inon-endowment) funds évery period in support of ils direct
charitable expenditure. The endowment funds are 8xpendable and can therefore be used to provide,
as In previous y88rs, for th6 excess of the Trusl's expendlture overincome.
Whilst the Trusteos wish to continue the Trust's activltles at current level, they are mindful that any
decrease In the endowment will lead lo a future decrease In lh8 Income generated by the 8ndowmant.
Therefore the Trustees will continue to Iry and fund the expenditure of the Trust from the income
generated and only draw on the endowment when necessary to meel Ihe Trust's desire to support its
current. sole beneficiary.
Statement of Trustees. Responslbilities
The Trustees are responsible for preparing the Trustees, Report and the accounts In accordance wlth
8pplicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Charlty law requlres the Trustees to prepare accounts for 8ach fin8nclal perlod which glve a trua and
fair view of the state of affairs of the Trust and of the surplus or deflclt of thé Trust for that perlod. In
preparing those accounts, the Trustaas are required to..
select sultable accounting pollcies and apply them conslstently.
observ8 the mathods and princlpl6s In the Charities SORP 2019 (FRS 102).,
makejudgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of reoommended practica have
been followed, sublect to any departures disclosed and explalned in the financial statements,. and
prepare the accounts on the going-concern basis unless it Is Inappropriate to presume that Ihe
Trust will continue in operational existence.
The Trustees ar8 responslble for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure Ihat the accounls
Gomply with Ihe Charities AGt 2011, the Charlty (Accounts and Reports) Regulations 2008 and the
provisions of the Scheme which govarns Ihe Charlty. They are also responsible for safeguarding the
assets of the Charity and hence for taking reasonable steps for Ihe prevention and deleclion of fraud
and other irregularitles.
Thls report was approved by the Trustees on 161h December 2024 and signed on Its beh81f by..
Mr. John Webster
Trustee
Page 5

INDEPENDENT AUDITOR'S REPORTTO
THE TEMPLETON EDUCATION AND CHARITY TRUST
We have audlted the financlal statements of The T8mpleton Education and Charity Trust ('the charity,) for the
year ended 31 July 2024 whlch ¢ompris8 the Statement of Flnancl81 Aclivilies, Balance Sheel and notes lo the
financlal s18temants, including signlficant accounling policies. The financial reporting framework that has been
applied in thelr preparatlon is applicable law and United Kingdom Accounting Standards, including Flnancial
Reportlng Standard 102 The Flnanclal Reporting Standard appllc8ble in the UK and Republic of Ireland {Uniled
Klngdom Generally Accepted Accounllng Pracllce}.
In our oplnlon the financial slal@m8nls:
give a true and fair vi8w of the slate of the charity's affairs as at 31 July 2024 and of Its Income and
expendlture, for tha year then ended.
have been properly prepared in accordance with Unlled Kingdom Generally Accepted Accountlng Practlce.
and
have been prepared In accordance with the requirements of the Charilles Act 2011.
Basis for oplnion
We conducted our audit In accordance with International Standards on Auditing {UKI (ISAS {UK)18nd appllcable
law. Our responslbililies under Ihose standards are further descrlbed in the Audltor's responsibilities for the audit
of the financial stalemenls section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements In the UK, includlng the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities In accordance with these requlremenls. We
believe that the audit evidence we have obtalned Is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the flnancial statements, we hav& concludéd that thé trustees use of the golng concern basls of
accounting in the prep8ration of th8 financlal staloments is approprralo.
Bas8d on th8 work we have porformed, we have not Identified any material uncertalnlies relating to 6v8nls or
conditions that, indlvldually or collectively. may cast slgnlficant doubl on the charity's ablllty lo contlnue as a
golng concern for a perlod of at least twelve months from when tha financial statements are authorlsed for Issue.
Our responsibililles and the responslbllltles of the trustees with respect to golng conc6rn are descrlbed In the
relevant sections of this r6port.
othor Informatlon
Thè trustees are responslble for the other informallon contained wilhln the annual raport. The other information
comprlses the information Included In the annual report, other than the financial statements and our audltor'8
report thereon. Our opinion on the financial slalemenls does not cover Ihe other Information and, except to the
exlenl othe￿[Se explicitly staled in our report, we do not express any form of assurance concluslon Ihereon.
Our responsiblllty Is to road the olher Informatlon and, In dolng so, consider whether the other Informallon Is
materially inconsislenl wllh the financial statements or our knowledge obtalned in the audit or olhetwise appears
to be materially misstaled. If we Identify SLfch material inconslstencies or apparent malerial mlsslatemanls, we
are required to deterrnine whether this gives riso to a material misslalemenl in the financial statements
themselves. If, based on the worl( we have performed, we conclude that there is a material rnlsslalement of thls
other Informalion, we are required lo report that facl,
We have nollilng lo report In this regard.
Page 6

INDEPENDENT AUDITOR'S REPORT TO
THE TEMPLETON EDUCATION AND CHARITY TRUST
Matters on which we are requlred to report by exception
We have nothlng to report In resp8Ct of the followlng matters In relation to whlch the Charitles {Accounts and
Reports) Regulations 2008 requlres us to report to you If, In our opinlon..
the information given in the financial statements is inconsislent in any malerlal respeci with the trustees,
report. or
sufficienl and proper accounting records have not been kept by the charily; or
Ihe financial slatemenls are not in agreement with the accounting records and returns; or
W8 have not received all the information and explanations we requlre for our audlt.
Responsibilities of trustees
As explained more fully In Ihe trustees. rasponslbilities statement set out on page 5, the trustees are responsible
for the preparation of the financial statements and for belng gatislled that Ih8y give a true and fair view, and for
such internal control as the trustees determine Ss necessary to enable the preparation of financial slatemenls
that are free from material misstatement, whelh8r due to fraud or error.
In preparing Ihe financial statements, the trust86s are responsible for assessing Ihe charily's ability lo ¢onlinue
as a going concern, disclosing, as applicable, mallers related to going concern and using the golng concern
basis of accounling unless Ihe Irustees either intend to liquidate Ihe charily or to cease operations, or have no
reallstic alternative bul lo do so.
Audltor's responsibilities for tho audlt of the financlal statements
We have been appolnted as auditor under seclion 145 of Ihe Charities Act 2011, and report In accordance wlth
the Acts and relevant regulations made or having effect thereunder.
Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free
ffom material misstatement, whether due to fraud or error, and to ISSU8 an auditor's report that include8 our
opinion. Reasonable assurance is a high level of assurance, but is not a guarante8 that an audlt conducted in
accordance wlth ISAS (UK) wlll always detacl a material misslalement when It exists. Misstatements can arlse
from fraud or error and are consldered materlal if, Individually or In the aggregate, thèy could reasonably be
exp8Cted to Influence Iha economlc declslons of users taken on the basls of these flnanci81 statements.
Detalls of Iha extent to whloh th8 audlt was consldered capable of detecting Irregularities, Includlng fraud and
non-cornpliance with laws and regulation8 are set out below.
A further descrlpllon of our responsibilili6s for the audit of the flnanclal statements Is located on the Flnanclal
Reporting Council's webslle at- www.frc.or
.uldauditorsres
onsibililies. This descriptlon forms part of our
auditor's report.
Extent to whlch tha audit was consldered capable of detectlng irregularltles, Includlng fraud
Irregularities, Includlng fraud, are Instanc8s of non-compliance with Saws and regulatlons. We Identified and
assessed the rlsks of materlal misstatement of the flnanclal statements from irregularlties, whether due to fraud
or error, and discussed these between our audit team members. We then design8d and performed audit
procedures responsive to those rlsl<s, including oblaining audit evidence sufficient and approprlate lo provide a
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks wllhln which Ihe charily operates,
focusing on those saws and regulations that have a direcl effect on the determlnalion of material amounts and
disclosures in Ihe financial slalements. The laws and regulallons we consldered in this contexl were the
Charities Act 2011 together with the Charllies SORP (FRS 102). We assessed the required compliance with
thesè laws and regulatlons as part of our audil procedures on Ihe related financial staternenl items.
In addition, we consldered provislons of other laws and regulations that do not have a direct effect on the
flnancial statements but compllance with which might be fundamental to the charlty's ability lo operate or to
8void a material penalty. We also considered the opportunities and Incenlives that may exist within Ihe charity
for fraud. The laws and regulatlons we consldered In this context for ils operatlons were General Data Protection
Regulatlon and Taxation legislatlon.
Page 7

INDEPENDENT AUDITOR'S REPORT TO
THE TEMPLETON EDUCATION AND CHARITY TRUST
Audlling standards limlt the required audll procedures to Idenllly non-compllance with these laws and regulallons
lo enqulry of the Trustees and other management and inspection of regu181ory and legal correspondonce, it any.
We Idenliflèd the greatest rlsk of matei'ial impact on the financlal sla16ments from Irregularilles, including fraud,
lo be within the recognition of income and the overrlde of controls by managomenl. Oui. audll procedures lo
respond lo Ih6se risks included enquir185 of management about their own idenlificatlon and assessment of the
risks of Irregularllle8, samplo testing on the posllng of Journals, revlewing accounting 8slimates for blases,
sample testing of income Iransacllons to supportlng documentation and reading minutes of meetings of Ihos&
charged with governance.
Owlng to the inherent limilallons of an audlt, there is an unavoldable rlsk that we may not have detected 80me
malerial misstatements in the financial slalemenls, even though we have properly planned and performed our
audil in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations (irregularities) is from the events and transactions reflecled in the financial slalemenls, the less lil(ely
the inherently Ilmiled procedures required by auditing standards would idenllfy it. In addition, as with any audlt
there remained a highèr risk of non-deleclion of irregularllies, as these May involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-
compllance and cannot be expected lo delecl non-compliance with all laws and regulalions.
Uso of our report
This report Is made solely lo the charlly's trustees, as a body, in accordanc8 with Pari 4 of the Charlties
(Accounts and Reports) Regulallons 2008. Our audlt work has been undertak6n so that we might stale to the
charity's Iruslees those matters we are required to state to Ihem in an auditor's report and for no other purpose.
To th8 full8St exlenl permitted by law, we do not accept or assuma r8sponsibilily to anyone other than the charity
and thé charily's trustees as a body, for our 8udil work, for this report, or for the oplnions we have formed.
W_
Wenn Towi)send
statutory Auditor
Oxford
171DI/8Dg
Wenn Town36nd Is eligible lor appolnlm8nl &8 audllor ol Ihe eharily by vlrtuè ol Ils eliglblllly lor appolnlmenl as auditor of a company
undèr secllon 1212 01 th8 Companles Acl 2006.
Pag8 8

THE TEMPLETON EDUCATION AND CHARITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2024
Notes
Unrestrlcted Endowment
Funds
Funds
31 July
31 July
2024
2024
Total
Funds
31 July
2024
Total
Funds
31 July
2023
Income from:
Gifts in kind
Investment Income
276
Total income
276
Expenditure on:
Charitable activities
Total expèndlturè
Net gainsl(losses) on
inv8slments
182 070
183 971
965 123
Net incomellexpenditure)
2,177
208,528
210,705
365,123
Transfers between funds
Net movement in funds
2,177
208,528
210,705
365, 123
Reconcillatlon of funds..
Total funds brought fO￿ard
22
85
Total funds carried forward
07
All of the above results are derived from continuing activities. All galns and losses recognised in the
pei'iod are included above.
Page 9

THE TEMPLETON EDUCATION AND CHARITY TRUST
BALANCE SHEET
(CHARITY NUMBER.. 1006630)
AS AT 31 JULY 2024
Notes
2024
2023
Fixed assets
Investments
5,553,788
5,343,083
Credltors: amounts falllng
due within one year
11
11
Net current
assetsl{Ilabilities)
11
Total net assets
Funds
Endowment funds
Unrestricted funds
5,496,378
5,287, 850
Total funds
The financial statements were approved and aulhoriz@d for issue by tha Board of Trustees on
161h December 2024 and signed on thelr behalf by:
Mr. John Webster
Trustee
The Templeton Education and Charily Trust
The notes on pages 1110 14 form an integral part of these financial stalgn7ents
Page 10

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ACCOUNTING POLICIES
1.1 General informatlon and basls of preparation
The Templeton Education and Charity Trust Is a charitable trust in England I Wales. The
address of the princip81 office and the nalure of the charity's operatlons and principal aclivitles
are included in the Trustees Report earlier in this document.
The charity constitutes a public ben6fit entlty as defined by FRS 102. The financlaS
statemants have been prapared In accordance wllh Accounting and Reporting by Charllles:
statement of Recommended Praclice applicable to charllies preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland Issued in October 2019. the Financial Reporting Standard appllcable in the United
Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally
Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the hislorlcal cost
convenllon, modlfled to include certain items at fair value. The financial statements are
presented in sterling which is the functlonal currency of the ch8rlty. The significant accounting
policies applled in the preparation of these financia5 statements are set out below. These
policies have been consistently applled to all years presented un18SS Otherwlse statod.
1.2 Golng concern
The trustees have considered the fundlng requlrements for the charity and believe there are
no malerial uncertaintles over the charity's abillty lo contlnue in operation for the foreseeable
futur8.
1.3 Incomo recognltlon
All incomlng resources are included on the Statement of Flnanclal Activltles when the charlty
is18gally antitled to the income and the amount can be qU8Tltified with reasonable accuracy.
1.4 Expenditure reGognition
Cosls are accounted for on an accruals basis and are included under the appropriate
category.
Grants are recognlsed In expendlture when a commitment has been made and thls has been
communicated and agreed with the beneficiary.
1.5 Investments assets
Assets held for investment purposes are valued al market value at the Balance Sheet data.
Net gains and losses arlsing on revaluation and dlsposals during the perlod are Included in
the Statement of Financial Acllvities.
1.6 Liabllltles
Llabilities are recognlsed as soon as there Is a legal or constructiv8 obligation to commltllng the
Trust to the expenditura
Page11

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ACCOUNTING POLICIES {cont.I
1.7 Fund accountlng
Expendable endowment fund
The endowment fund reprèsents those assets which the Trustees are requlred to hold as
capital. The terms of the present endowment are that It Is an expendable endowment and
therefore In cerlaln clrcumstances the endowed fund may bo spenl at the dlscretion of the
Trustees.
The expendable endowment fund is held to support Green Templeton College through the
mal<ing of annual and other granls. On each fifth anniversary of the granl date (last date
belng 31 December 20221, the value of the expendable endowment fund Is averaged. If 5 %
of the value so taken exceeds the amount actually paid to the College over the previous flve
years, the surplus will be transferred lo a deslgnated fund. The designated fund is then
available, at the Trustees, discretion, for emergencies or for the cosls of developing new
programmes al Green Templelon College. The trustees reserve the righl to not forrn811y
Iransfer funds inlo this deslgnated fund, following a quinquennial review.
Unrestricted funds
Unrestricted funds represent Incoma received or generated for expondlture on the general
obSectlves of the Trust.
Deslgnated funds are unrestricted funds which have be8n designated for speclfic purposes .
by the Trustees.
2. TOTAL EXPENDITURE
2024
2023
Charltable actlvltles
Grants payable to Green Templeton College, Oxford
INVESTMENTS
2024
2023
M8rl<et value 8t 1 August
Purchases
Net (loss)Igain on revaluations
5,343,083
26,734
183 971
4,977,960
365 123
Value at 31 July
08
FUNDS
The unrestricted funds aro funds available to the Trustees to apply for Ihe general purposes of the
Trust as set out In Ils governlng document. Incomo generated from the assets In the fund Is unreslricled
incorne.
Page 12

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at 31 July 2024 are represented by..
Unrestricted Endowment
funds
Fuiids
Total
Funds
2024
Investmonls
Current liabilillas
57,410
11
5,496,378
5,553,788
11
Total net assets
2023 Comp8r8tives
Unrestrlcl6d
funds
Endowment
Funds
Total
Funds
2023
Investmenls
Current liabillt18S
55,233
5,287,850
5,343,083
11
Total net assets
TRUSTEE REMUNERATION
None of the Trustees received remuneration or were relmbursed for expenses durlng the period (2023..
£nll).
RELATED PARTY TRANSACTIONS
Mr. John Webster is a trustee of Green Templelon Colleg8 as well as this charlty. Consequently,
Green Templelon Coll8gÈ is a related party. Thare is an £11 ¢redllor with the College as at 31 July
2024 {2023'. £11).
In addltion, tho cost of professlonal fees for Ihls charity Were borne by Green Templ8lon College. Total
costs relating lo the year end und8r review were approximately £5,400, of which £2,400 (including
Irrecoverable VAT) related to the preparation of the accounting records and preparation of the statutory
accounts, and £3,000 (Including irrecoverable VATI for the audit of the stalutory accounts {2023',
£11,700 in total).
There ware no other related party transactions In the period.
Page 13

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
CONTINGENT LIABILITIES
There were no conllngent Ilabllllles as at 31 July 2024 {2023'. £nll)
CAPITAL COMMITMENTS
There were no capltal commitments as at 31 July 2024 <2023; £nil)
10. CHARITY INFORMATION
The charity is unincorporated. The registered offlce of the charity Is Green Templeton College, 43
Woodstock Road. Oxford, OX2 6HG.
Page 14

THE TEMPLETON EDUCATION AND CHARITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
11. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 July 2023
Notes
Unrestrlcted Endowmont
Funds
Funds
31 July
31 July
2023
2023
Total
Funds
31 July
2023
Income from:
Gifts in Kind
Total relurn allocated to Income
Total Income
Expandlture on:
Charltable activities
Total expendlture
Net gainsl(losses) on
Investments
361349
385 123
Net incomellexpendlture)
3,774
361,349
365,123
Transfers betwe6n funds
Nel movement In funds
3,774
361,349
365,123
Reconclllatlon of funds:
Total funds brought forward
4 926 501
4 977 949
Total funds carried forward
Page 15