# 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¢r￿m) In In¥￿trnOnts
CID•lng v•lu•ti¢Jn
oco,oco,
(100,OC¢).CO)
eoo.000.cM)
P￿rf￿0 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 pOs￿10n
27,001.48
18,785.94
30 274.08
27 001.48
Flxod Assets
Exhlblkn Road Playing Field
Openlng Balan
Addition81di•po•als
c1￿1n9 Balan
(purchase valu•)
586.66
Tolal *•s•l•
1210 395.46
1157491.35
Bal•n¢• Brought Forward
1,157,491.35
381,153.72
SU￿U￿(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 C￿￿tIon..
Rwr Tot•1
7,720.61
8.497.00
lftw•trn•rt Ch•rfM Sl•n
COIF D•poitt account
ln¥••trr￿ COIF Inw•tff*nl •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
AectyJnt*nVs 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
Ir￿rnne• 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 In￿StMent Ac£ounts
ProflUILos•l on Dlspos•l ol Flxed A•Mts
49.831.51
(31.291.25)
799.413.34
Tot•1 surplu￿{dOr*il) 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
Inde￿ndant
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