APEfHORPE EDUCATIONAL TRusr ACCOUNTS FOR THE YEAR ENDED th FEBRUARY 2025 Cobley Desborough Chartered Certified Accountants Chartered Tax Advisers Artisans, House 7 Queensbridge Northampton NN4 7BF Tel: 01604 823560
APETHORPE EDUCATIONAL TRUST TRUSTEES, ANNUAL REPORT For the ear ended 28th Februa 2025 TRUSTEES: Mrs. I. Whlte Mrs. F. Furman Mrs. P. White Mrs. C. Kltchen Rev. Canon Dr. B Killeen REGISTERED OFFICE 25 Acre Lane Kingsthorpe Northampton NN2 8BN CHARITY REGISTRATION NO. 1058504 ACCOUNTANTS Cobley Desborough Certified Chartered Accountsnts Chartered Tax Advisers Artisans, House 7 Queensbridge Northampton NN4 7BF LEGAL ADVISERS Pothecary Wltham Weld, 70 St. George's Square London SWI 3RD BANKERS Lloyds Bank 2 George Row Northampton NNI IDJ INVESTMENT MANAGERS J.M. Finn & Co. 4 Coleman Street London EC2R
TheA ucational Trus INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE APETHORPE EDUCATION TRUST I report on the accounts of the Trust for the year ended 28th February 2025 which are set out on pages l and 2. Respectlve responsibilities of trustees and examlner The charity's trustees are responslble for the preparation of the accounts. The charity's trustees conslder that an audit is not required for this year under sectlon 144 of the Charltles Act 2011 crhe Charities Act) and that an independent examination Is needed. It Is my responsibility to: examine the accounts under Section 145 of the Charities Act, to follow the procedures lald down in the general Directions given by the Charlty CommSsslon (under Section 145(5)(b) of the Charltles Act), and to stste whether particular matters have come to my attentlon. Basis of independent examlner's report My examlnatlon was carried out in accordan with the General Dlrectlons given by the Charity Commission. An examlnatlon includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual Items or disclosures in the accounts, and seeklng explanations from the trustees Conrning any such matters. The procedures undertaken do not provlde all the eVIden that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ue and fair" view and the report Is Ilmlted to those matters set out in the statement below. Independent examiner's statement In connection with my examlnatlon, no matter has come to my attention: whlch glves us reasonable cause to believe that In any materlal respect the requlrements to keep accounting records in accordantr wlth sectlon 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requlrements of the Charities Act. have not been met. or to whlch, In my opinion, attention should be drawn In order to enable a proper understanding of the accounts to be reached. L¢Q)L Tim Cobley F.C.C.A. C.T.A. A.T.T. Cobley Desborough Chartered Certified Accountants Chartered Tax Adv15ers Artisans, House 7 Queensbridge Northampton Northamptonshire NN4 7BF 20 October 2025
e Educatl Charit No.105 ANNUAL REPORT 2025 Thls report details the activltles undertaken by The Apethorpe Trust for the duration of the year between 1st March 2024 and 28th February 2025. The Trust contlnues to support charitable or voluntary organlsatlons within the County of Northamptonshire whose objectives include the education and tralning of any chlld or young persons in need. The fund Is for any group, school or organlsatlon that works with children under the age of 18 e.g. schools, guldes, children's charities. The focus is providlng 'enrlchmenY activities or supporting project Inltlatives - Forest School activities, technological reSoUrs, marching bands, chlckens, playground equipment, vegetable gardens, keyboards, ukulele bands etc are all examples of prevlously allocated funding bids. Any interested schools or organisations are sent a copy of the grant criterla and a grant proforma for completion which detalls the project they wlsh to resour or fund. It Is not the policy of the Trust to provide grants that prlmarily meet the cost of premlses, buildings, or employees. The provision of grant funds towards the costs of speciallsed equipment or services, andlor aC$S to approprlate facilities which enable an organlsation to further the education and support of chlldren and young people wlll be considered. Meetin s held en 01.03.2024 and 28.02.2025 We entsred into the new 24125 yearly cycle with the same trustees in appointment as the previous year. Our first meeting of the Apethorpe Trust, for the 24125 year cycle was held on 14th October 2024. As is usual for our first meeting of the year, Freddie Woodhead from the Investment company, JM Finn gave a report on the investment portfolio, and Tim Cobley of Cobley Desborough presented the yearly accounts for the Charity. Freddie Woodhead from investment company JM Finn presented the Investsnent portfollo. A copy was shared with all trustees. Freddle began with a summary of where the figures are to date in relation to the Portfolio. The Investment amount is approximately 3.5 million, which was progress Sin the dlp In the investment amount declared at the prevlous meetlng. The amount Is now up 10.5 % which is pleaslng. Freddie reported a mixed market. Thlngs had broadened out since the summer with a big rise in us tech. The trust has a diverse wrtfolio. We draw down IOK In funds per quarter and can increase or decrease the amount, as necessary. There are changes to the rlsk profile of Investment funds. The majorlty of the portfolio is held in the US wlth our top holdings being the Downing Fund and the Gold Wisdom Tr. Both are doing well during and despite geopolitical tenslons. Inflation has started to ease. Movement from the Chinese govemment. Property is invested in Segro. Aslan Hospital business- healthcare is growing slgnlficantly, blg growth area.- Parkway Llfe. The top 10 and bottom ten perfomlng Investments were discussed.
Educational Tru No.1 ANNUAL REPORT 2025 (cont.) Coble h Accounts A synopsis of the reported accounts and activities of the Trust was delivered by Tim. This summary was taken from the report given by the Trust as prepared by Penny White, Chair. The statement of the assets was discussed and the recelpts and payment details of the grant blds paid. These all contribute to the reported accounts filed with the Charltles Commission. It was agreed by Trustees to invest in a new chromebook with which to facilitate our admlnlstratlve work. Trustees recognised the need to have documentation in one pla uslng a cloud format as storage, In Ilne wlth GDPR compl[an. Therefore, we purchased a new Asus chromebook13 256GB £279 plus a 3 year Insurance plan £130.50, set up and a computer bag. This came at a cost of £499.25. The second mtIng of the year was held on April 7th 2025. Trustees contemplated a reduction In funds drawn down, however It was agreed that as thls can be done at a moment's noti, we would revlew the decision on an ongoing basls. As this is the second meeting of the cyclical year, and does not contain feedback from the Investsnent Manager or the Accountsnt, the purpose of the meetlng is to primarily discuss the allocatlon of funding for the applications received. Princi l Activit Thls year the Trust has provided financlal grants In support of work with children and young people to the organlsations as stated in the list below. Some hold Charlty status as indicated in the brackets below. March 2024 Canto Learning Limited £6,000 Northampton School for Glrls £3,000 Northampton School for Boys £7,170 Thomas Becket School £1,500 October 2024 Rock UK (Christian Charlty) £1,200 Llberty Drum Corps £3,000 Yoga Pebbles £3,490 Woodford Halse Prlmary School £1,452 Boothvllle Primary School £1,961.81 New Horizons School £840 The amount of funds given to support chlldren and young people across Northamptonshire by the Apethorpe Trust in the 2024-2025 year comes to a totsl of £29,613.81. Mrs P White Trustee 20 October 2025
e Educatio Chari 8504 RECEIPTS AND PAYMENTS ACCOUNTS GEN 28.02.2025 29.02.2024 INCOME RECEIPTS Income from investments Dividends from quoted Investments Interest from quoted Investments Interest reIVed 33,518 6,639 37,243 758 53 Total Income Recelpts 40,157 38,054 PAYMENTS Expenses Accountancy Stockbrokerfs fees Sundry 1,020 26,586 499 28,105 960 18,864 90 19,914 Direct charltable expenditure Grants paid Totsl Payments 46,406 EXCESS OF INCOME RECEIPTS OVER PAYMENTS (17,562) (8,352) INVEsfMENT SALES 673,187 506,156 INVEsfMENT PURCHASES 665,480 471,663 EXCESS OF CAprrAL RECEIPTS OVER PAYMENTS 7,707 34,493 EXCESS OF ALL RECEIPTS OVER PAYMENTS (9,855) 26,141 CASH AT BANK BROUGHT FORWARD 47,048 20,907 CASH AT BANK CARRIED FORWARD 37,193 47,048 Page I
or Educational No.1 STATEMENT OF ASSEfs AND UABILITIES GENERAL FUND For 28.02.2025 29.02.2024 MONETARY ASSETS Uoyds J M Finn Income Account J M Finn Deposit Account 31,910 23,043 12 37,193 47,048 INVEsfMENT ASSErs J M Flnn portfollo 2,224,832 2,035,707 UABILMES Accruals (1,050) (960) 2,260,975 2,081,795 NOTES TO THE ACCOUNTS 2025 INVEsfMENT ASSETS JMFlnn At cost Purchases Sales Gains Cost of investments carrled forward 2,035,707 665,480 (673,187) 196 832 2,224,832 2,065,203 471,663 (506,156) 2,035,707 Market value of Investments carried forward 3,496,484 3,282,431 Page 2