QUEEN ELIZABETH’S EDUCATION FOUNDATION Chairman’ s Annual Report
31[st] March 2024
The AGM in October 23 elected officers as follows:
Peter Bryan - Chairman
George Mortimer - Vice Chairman;
Finance Committee - (Peter Bryan,Sue Lavery,Paul Cleave,Mike Langhorne)Treasurer duties
The foundation is happy to report the proceeds of the sale of 1/3 of the lower field has started to produce the levels of return planned, and hence the availability of grant funds to QE .
In line with the investment policy , we have split the funds into 2 relatively low risk long term options, whilst still producing a sensible income for distribution
The markets have moved from negative into positive growth , on top of the income generated this year , so we are happy to see an underlying growth to counter inflationary pressures.
This year ,continued to approve grants to the school at an unpredecented level , the available funds rising four fold on the previous year. . They cover the usual wide variety of extra curricular activities for many age groups, and abilities, and include:
The setting up of a Chess Club
Multiple Music lessons across many instruments
English and Drama initiatives , including Guided reading , Poetry , year wide school productions, and SEND initiatives.
Ten Tors entry fees
6[th] form prize giving , and Diploma evening
Finally, my thanks go to all the Trustees for their commitment and support.
Peter Bryan - Chairman 31[st] March 2024
ACC4XIKrn FOR TME YEAR eMDeD 31 IAARCM 2024 3IftJ%2024 3IM%2023 431,765.00 50,000.C 380,807.78 1Crf),OCII.00 Fund• •J•d l thdr• 431785.00 Oponhy valu•ibn Fund8 •dd•d I wrthdravffl Inm•{dO¢rm) In In¥trnOnts CID•lng v•lu•ti¢Jn oco,oco, (100,OC¢).CO) eoo.000.cM) Prf0 wllh COIF Inv•8tm•nt AC Op•nlrKJ valuatlon Fund• •dd•d I wlthdrawn lnGrn•wlldocrea> in Investments Clo•kng valuitlon 197.551.53 50,(Y)O.cM) 22 797.51 270 349.04 200,000.CII 197 551.53 C•8h Book Vlrqln 8ank Ownlng calh book poiitlon surplU(derKiI) for the year Clo8lng calh book pOs10n 27,001.48 18,785.94 30 274.08 27 001.48 Flxod Assets Exhlblkn Road Playing Field Openlng Balan Addition81di•po•als c11n9 Balan (purchase valu•) 586.66 Tolal •s•l• 1210 395.46 1157491.35 Bal•n¢• Brought Forward 1,157,491.35 381,153.72 SUU(DOficrt) for the ar 52,904.11 776,337.63 1210 395.46 1157491.35
ACCCAIMTr POR THE YEAR ENDED 31 IAARCH 2024 202Jra4 2022Rg 2,400.CKI 5.320.03 3,000.1)O 6.495.33 Cr•dllon Chunth CtIon.. Rwr Tot•1 7,720.61 8.497.00 lftw•trn•rt Ch•rfM Sl•n COIF D•poitt account ln¥••trr COIF Inw•tffnl •ccounl 14,183.18 19,716.48 9,378.44 40.745,78 13214.79 Total In¢>)m• 4O.472.37 21.711.79 Burn•nM Unlv•rnliy •nd •ppr•nt•shlps Sl•ff •NI ¥lud•nt fWU• 1,700.00 38,463.30 5,300.00 5,086.74 Mi•c•ll•noo Sport•fknld lts B•nk Ch•ry AectyJntnVs Fou (bi annu•l) CbBrk's Salary 10.00 26.48 1,277.15 2.921.27 130.47 707.58 2,140.35 201.75 730.93 Irrnne• Prnmlum 45,199.n 13.496.25 Total Eyp•ndlturn 45,199.77 13,498.25 C•shbook Sufplujlldekit) for tho 3 272.60 215.54 G•irLI{Loss) on InStMent Ac£ounts ProflUILos•l on Dlspos•l ol Flxed A•Mts 49.831.51 (31.291.25) 799.413.34 Tot•1 surplu{dOril) forfv s•ar 52 904.11 776 337.63 Pwl
ectioi) B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glvo horn brlef detalls of any It•m• that the •xamin•r wl•h•s to disclo••. IER OGtob•r 2018
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examlnorf8 report on th8 accounts Section A Independeiit Examiner's Report R•port to th• tru•ts• m•mb•r• of QUEEN ELIZABETH'S EDUCATIONAL FOUNDATION On accounts for the year •nd•d 31 MARCH 2024 Charlty no 1059658 S•t out on pag•• 1and2 Iron)eixbryr to I','GliJfJè th* paoe i)¢Jrr.bèri ¢11 xd¢Thir,rtal vtypW31 I report to the tru8tee• on my •xamlnatlon of the accounts ol above charity ('the Trust.) for the year ended 3110312024. R•8ponslbllltl•8 and As the charity trustee8 of the Trust, you are responsible lor the preparatian bas1• of rnport of the accounts In accordance with the requirement8 of the Charities Act 2011 ("th8 Act.). I report in respect of my examination of the Trust'8 accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed the applicable Directions given by the Charity Commi85ion under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention ( -) in conrsection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Indendant examinerfs ststement I have no concerns and have come across no other matters in connection with Ihe examination to which attention should be drawn in order to enable a proper unde nding of ccounts lo be reached. Please del ethew s in the brackets if they do not apply. Signed: Date: 0811012024 Name: MARTI JAMES RICE Rèlevanl professlonal qualification($) or body (if any): F.C.C.A. Address: STAPLETONS 4 MARKET STREET CREDITON EX17 2AJ IER Octob•r 2018