# QUEEN ELIZABETH’S EDUCATION FOUNDATION Chairman’ s Annual Report
## 31[st] March 2025
## **The AGM in October 24 re-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 record distributions to QE pupils this financial year, despite a drop off in performance of our long term investments . As recorded , previously , we continue to monitor the relative performances of all investments regularly , and will adjust portfolio’s as necessary.
The accounts do feature a refund from the school for a combination of several years of unclaimed balances from previous awards , which now allows us to re-allocate those funds to current projects, and adjusts the formula to be self regulating in itemising approved projects which might not go ahead for one reason or another .
We continue to support financially all students who are moving on to higher education , through bursaries , and apprenticeship contributions , as well as a multitude of diverse department initiatives for extra curricular activities . These cover Music, Maths , English, Drama , Law , SEND , amongst others, and are also happy to see new departmental applications as well.
We are very happy to maintain our support for regular activities , such as 6[th] form presentation evenings, and the Ten Tors event .
Finally, my thanks go to all the Trustees for their commitment and support.
Peter Bryan - Chairman 31[st] March 2025
## **QUEEN ELIZABETH'S EDUCATIONAL FOUNDATION**
Registered Charity No 1059656
## **ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
|INCOME
Sportsfield Rent
Crediton Church Corporation
Bequethments
Cashback
Regular IncomeTotal
Interest Virgin Deposit Account
Investment Charles Stanley
Investment COIF Deposit account
Investment COIF Investment account
Total income
EXPENDITURE
Bursaries University and apprenticeships
Staff and student requests
Miscellaneous
Sportsfield costs
Bank Charges
Accountant's Fees (bi annual)
Clerk's Salary
Office expenses
Insurance Premium
Total Expenditure
Surplus/Deficit for the year
Gain/loss on Investment Accounts
Profit/Loss on Disposal of Fixed Assets
Total Surplus/deficit for the year|**£**
2,400.00
-
0.08
-|**£**
2,400.08
34.25
16,774.29
11,406.91
10,807.32
**2024/25**|**£**
41,422.85
5,170.85
36,252.00
-27,990.27
8,261.73|**£**
2,400.00
5,320.03
6.58|**£**
7,726.61
14,183.18
19,716.48
6,846.10
**2023/24**|**£**
48,472.37
45,199.77|
|---|---|---|---|---|---|---|
||3,600.00
3,706.38
-
522.95
180.00
3,815.20
34.95
724.13|||1,700.00
38,463.30
-
1,277.15
-
2,921.27
130.47
707.58|||
|||41,422.85|||48,472.37||
|||5,170.85|||45,199.77||
||||||||
||||||||
|||||||3,272.60|
|||||||49,631.51|
|||||||52,904.11|
|**QEEF Balance Sheet**
**Portfolio held with Charles Stanley**
Opening valuation
Funds added / withdrawn
Increase/(decrease) in investments
Closing valuation
**Portfolio held with COIFDeposit Acc**
Opening valuation
Funds added / withdrawn
Increase/(decrease) in investments
Closing valuation
**Portfolio held with COIF Investment AC**
Opening valuation
Funds added / withdrawn
Increase/(decrease) in investments
Closing valuation
**Cash Book Virgin Bank**
Opening cash book position
Cash movement
Closing cash book position
**Cash Book Virgin Bank D/A**
Opening cash book position
Cash movement
Closing cash book position
**Fixed Assets**
Exhibition Road Playing Field
Opening Balance
Additions/disposals
Closing Balance
(purchase value)
**Balance bought forward**
Surplus/deficit for the year
**Total assets**|**2024/25**
**£**
508,599.00
4,810.00
-
503,789.00
400,000.00
250,000.00
-
150,000.00
270,349.04
250,000.00
23,180.27
-
497,168.77
30,274.08
13,782.25
-
16,491.83
-
50,034.25
50,034.25
1,173.34
1,173.34
**1,210,395.46**
8,261.73
**1,218,657.19**|**2023/24**
**£**
431,765.00
50,000.00
26,834.00|
|---|---|---|
|||508,599.00|
|||500,000.00
100,000.00
-|
|||400,000.00|
|||197,551.53
50,000.00
22,797.51|
|||270,349.04|
|||27,001.48
3,272.60|
|||30,274.08|
||||
||||
|||1,173.34|
||||
|||1,173.34|
|||**1,157,491.35**
52,904.11|
|||**1,210,395.46**|
QUEEN EUZABETH'S EDUCATIONAL FOUNDATION
R¢gisler•J Charily No 1059856
ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
2024125
2023124
INCOME
Sportsfleld Ront
Crediton Church Corporollon
8equelhmenis
Cashback
2,400.00
2,400.00
5,320.03
0.08
6.58
Regular IneomeTolal
Inleresl Deposll Ac¢ouni
Inv8slmenl Charles Stanley
Investment COIF Deposll a¢counl
Inveslmenl COIF Investment account
2,400.08
34.2S
16,774.29
11,406.91
10.807.32
41,422.85
7,728.61
14,183.18
19,716.48
6 846.10
48.472.37
Ttslal Incom8
41,422.85
48.472.37
PEN
ITU
Bursarles Unlverslly and apprenllctr8hlp$
Slall and student requèsts
3,600.00
3,706.38
1,700,00
38,463.3D
Misctsllaneous
Sporlslield costs
Bank Charges
Accounlanl's Fee$ Ibl annu811
Clork s Salary
Offlce expenses
Insuran¢e Premlum
522.95
1.277.15
180.00
3,815.20
34.95
724.13
2,921.27
130.47
707.58
5.170.86
4S,199.77
Tolal Expendllure
Surplus/O8fkll for the ye8r
5,170.85
36 252.00
45 199.77
3 272.60
Galnllos$ on Inve$lmtsnl Accounts
ProflULoss cn Dlsposal of Flxed A55els
49,631.51
Total SurplusldafSdl for the year
8 261.73
52 904.11
TAMES
.C.C.A
STrrtffftAS
Ac¢•_
Page I
QEEF Balance Shèet
2024125
2023124
Portrollo held wlth Charles Stanley
Opening valuallon
Fund8 added I wllhdrawn
Incre85elldecreasel In inve51menls
Closlng valuallon
508.599.00
431.765.00
50,000.00
26,834.00
508.599.00
4.810.00
503,789.00
Pgrtlollo hold wlth COIFDeposlt ACG
Openlng valuallon
Funds added I wllhdrawn
Incr8aselld?creasel In Investments
Closlng v8luallon
400,000.00
250,000.00
500,000.00
100,000,00
150,000.(KI
400.000.00
Portfollo held wllh COIF Investment AC
Openlng vsluallon
Funds added I wllhdrawn
Increaselldecreaso) In Inveslm8nls
C105Ing valuallon
270,349.04
250,000.00
23,180.27
497,168.77
197,551.53
so.000.00
22 797,51
270,349.04
Ga5h Book Vlrgln Bank
Openlng cash book poslllon
Cash movement
Closlng cash book poslllon
30.274.08
13,782.25
16,491.83
27,001.48
3,272.60
30,274.08
Cash Book Vlrgln Bank DIA
Openlng cash book poslllon
Cash movement
Closlng cash book poslllon
50,034.25
50,034,25
Flxed A$stls
Exhlblllon Road Playlng Fleld
Openlng Balance
Addlllonsldlsposals
Closlno Balance
Ipurcli98e volu81
1,173.34
1,173,34
1,173.34
1,173.34
Balance bought forward
1,210,39S.40
1,157.491.35
Surpluwdeflcll lor the year
8,267.73
62,904.11
Tol81 aBsg18
1 218 657.19
1,210 395.40
Page 2
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
QUEEN ELIZABETH'S EDUCATIONAL FOUNDATION
On accounts for the year
ended
31 MARCH 2025
Charity no
(if any)
1059656
Set out on pages
1 and2
I report to the trustees on my examination of the accounts of the above
charity ("the Trust") for the year ended 3110312025.
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation
basis of report of the accounts in accordance with the requirements of the Charities Act
2011 ("the Act")
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
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 connection 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
Independent
examiner's statement
I have no Goncerns and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper under
tanding of the accounts to be reached.
Please del
te the words
brackets if they do not apply.
Signed:
VAVAVWIWIII
Date:
0711012025
Name:
MARTI
JAMES RICE
Relevant professional
qualification(s) or body
(if any):
F.C.C.A.
Address:
STAPLETONS
4 MARKET STREET
CREDITON EX17 2AJ
IER
October 2018
Section 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).
Give here brief detsils of
any items that the
examiner wishes to
disclose.
IER
October 2018