Sir William Turner Foundation
Flnancial Ststements
for the Year Ended 5 April 2024
ANDERSON BARROWCLIFF LIMITED
Chartered Accountant5

Wllllam T
rn
ntents
Charity Information
Report of the Trustees
Independent Examinerfs Report
statement of Financial Actlvities
Balance Sheet
Notes to the accounts
7-10

Ir Wllll
r Foundatlon
arlt Inf
Trustees
Mr Peter Sotheran Ichalr} (resigned 01110120241
Mr Colin Geoffreyvaux
Mr Bernard Coyne (chair}
Mr Denni5 Michael Weller {secretary)
Mrsjudith Anne Vickers
Mr Peterjames McGuigan Itreasurerl
Mrs Lesley Kettlewell
Mrjason Faulkner (reslgned 0110412024)
Miss Helen Mahoney {appolnted 01104/2024)
Mrs Kelly Coupland {appointed 01104120241
Prlnclpal Address
Low Pastures
Great Ayton
Middlesbrough
TS9 6HZ
Charlty Number
1075225
Accountants
Anderson Barrowcliff Limited
3 Kingf15her Court
Bowesfield Park
Stockton on Tees
TS18 3EX
Investment Advisors
Trtan Private Wealth Ltd
2 Greengate
Cardale Park
Harrogate
HG31GY
Page 1

The Trustees of Sir William Turner Foundatlon
ru5tees for the Year Ended 5 A rll 2024
The Trustees are pleased to present their report together with the financial statements of the charity for the year
ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out
in note 1 to the accounts and comply with the charitys trust deed, the Charities Att 2011 and Accounting and
Reporting by Charities.. Statement of Recommended Prattice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October
2019.
overnance an
Man
em
The Sir William Tumer Foundation is a registered Charitable Trust. It is managed by a group Df nine Trustees who
make all decisions on behalf of theTrust. The Trust is soverned bya scheme dated 19 October 1998 as amended by
special resolution dated 9 November 1999 and further amended by a scheme by the Charity Commission dated 10
March 2006 and 16January 2020.
Trustee Induc
lon
All Trustees receive a full induction pack, which outlines their duties and responsibilities. This includes information
about the Charity Commission rules and regulations, Trust policies and procedures, and good practice in
governance.
Prlnc
alob
ectlves Ac
hl
e Publlc Beneflt
The principal objects of the charity IS to advance the education of students at the Redcar campu5 of the Education
Tralning Collective by promoting the education, including social and physical training of students and former
students of the Redcar campus of the Education Training Collective in any way that the tru5tee5 may at any time
declde.
In so far as the incorne of the charlty Is not applied towards the objects specified above the trustees may apply it
in such ways as they think fit to advance the education of students in educational in5titution5 established in
Redcar.
The Trustees have had due regard to guidance publlshed by the Charlty Commisslon on publlc benefit.
Achie
ents In the Year
Net grants totalling £40,177 were awarded In the year In Ilne wlth the objectives of the charlty.
Fln
The TrusY5 work is entirely reliant on income and investment returns from Its endowrnents. The Trust recelved
£37,235 from interest and dividends. In the year the Trust made an unrealised gain of £362,381 12023: £48,248
10551 and a1055 on sale on investments of £82,57012023'. £7,071-profit). These movements led to an increase In the
total reserves to £5,997,77612023.' £5,737,702).
Reserves Pollc
The trustees aim to maintain free reserves at a level that will enable them to meet their objectives as set out above
andcurrentlythe unre5tritted fund balance i5£241,814ofwhich free reservesare £38,735. Unrestrictod fixed assets
are £203,079.
Page 2

ort of the Trustees for the Year
nded5A n720
"blliti In relatlon
The chartytrustees are responsible for preparlng a tnjsteeg annual report and finandal statements In accordan
with applicable law and United Kingdom Accounflng Standards (United Kingdom Generally Accepted Accountlng
Prac[1￿
The law appllcable to charltles in England and Wales requires the charlty and Iru5tees to prepare financlal
staiements for each year which give a true and fair view c>f the state of affairs of the charity and of the incoming
resources and applicdtion of resource's of the tharity for that perlod. In preparing the financlal rdrements, the
trustee5 are required t&..
selettsuitsble acc¢Juntin8 pollcles arld thon apply them consistenttr,
observe the methods and prlnciples in the Charities SORP 2019 IFRS 1021.,
makeludgements and eS￿mateSthatare reasonable and pruden
state whether appllcable accounting standards have been foll0v￿d. subjecr to any material departures
dlsclosed and explalned In the financial statements:
prepare the flnanclal statements on the golng concem basls unless It Is appropriate to presume that the
Charity will continue in operation.
The Trustees are responsible for maintaining proper accountlng records which disd05e wlth reasonable accuracyat
any time the financial position of the Charty and to enable thom to onsure that the financial statements comply
with the Charrties Att 201 l. the applicable Charities(Accounts and Reportsi Regulations 2008. The Tru5Lee5 are a150
responsible for safeguarding Ihe assets of the Charityand henco fortaklng reasonable steps forthe preventlon and
detection of fraud and other irregularitie&
The trustee5 are responsible for the malntenance and Integrity of the charity and financlal Informatlon Included on
the chartys webslre. Leglslation In the Unlted Kingdom governlng the preparation and disseminatlon of financlal
stscements may dlffer from leglslarlon in other jurlsdlcLion5.
MrPJMc
Trurtee
Mr5J Avlckers
Trust••
Date:
Page 3

The Trustees
Illlam Turner Foun
atlon
Inde
endent Examlne
rner F
I report to the trustee5 on my examination of the accounts of Sir William Turner Foundation (the Foundation) for
the year ended 5 April 2024which are set out on pages 5 to 10.
Responsibilities and ba515 of report
As the charitytrustee5 of the Foundation you are responsible forthe preparation of the accounts in accordance with
the requirements of the Charities Act 2011 (the Actrl.
I report in respett of my examination of the Foundation's accounts carried out under section 145 of the 2011 Act
and in carrying out rny examination I have followed all the applicable Dlrectlons glven by the Charity Commission
under section 14515}Ib) of the Act.
Independent examlner'5 Statement
I have completed my examinatlon. I confirm that no material matters have come to my attention in connettion with
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Foundatlon a5 required by 5ettion 130 of the Act; or
the accounts do not accord wlth those records; or
the accounts do not comply with the applicable requlrement5 concerning the form and content of accounts
set out in the Charities (Account5 and Reports) Regulations 2008 other than any requirement that the
accounts give a'true and fairfview which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connettion with the examination to which attention
Should be drawn in this report in order to enable a proper understandlng of the accounts to be reached.
James Dale FCCA
Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX
Date: ....,
Page 4

l ￿llIaM T
atlo
Statem
tles for the Ye
Endowment Unrestrlrted
Funds
Funds
Total Funds
2024
Totsl Funds
2023
Income and endowments
Investment Income:
Dividends & taxed interest
Bank deposit interest
Donations
37.Z35
1.057
150
37.235
1.057
150
42,078
321
Total Income
38.442
38.442
42,399
Expendlture
Costs of ralslng funds:
Investment management costs
13.355
1189
15,544
14,581
Expendlture on charltable activities:
College grants
Support costs
GovernL7nce costs..
Accountancy
40,177
298
40.177
28,817
274
2.160
2.160
1,980
Total expendlture
13.355
44.824
$8,179
45,652
Net incomel(expenditure) before
othergalnslllossesl on investments
(13.355)
(6,382)
(19.737)
13,253)
Galns & Losses on Investment assets
Profiullossl on sale of investments
Unreallsed galnllloss) on investments
(81.557)
339.947
(1.013)
21434
{82.570)
362.381
7,071
148,2481
Net movement In funds
245,035
15,039
260.074
{44,4301
Reconciliotion offunds
Total funds brought forward
5.510.927
226,775
5.737.702
5,782,132
Total funds carried forward
5.755.962
Z41.814
5,997,776
5,737,702
Page 5

Balancè S
eet as at S A rll 2024
2024
2023
FIXED ASSET5
Investment in College Buildlngs
Investments
3.422.497
2.427.711
1421497
1180A92
TOTAL FIXED ASSETS
5.850.208
5.603,389
CURftE￿f ASSErs
Cash held investments
Cash at bank
114263
85.026
97,921
73,1)40
199.289
170.961
CREDITORS
Amounts falling due wlthln one year
51.721
3&468
NEf CURREKf ASSETS
147.568
134,313
TOTAL ASSErs
5.997.T16
5.737.702
FUNDS OF THE CHARirY
Unrestrlcted fvnd5
Endowment ftjnds
241.814
5,755.962
226.775
5.510,927
S.997.Th
5.737.702
Dedaration
The accounts set out on the attached pages for the financial year ended 5April 2024, and the balance sheet at that
date set out above are as approved by the trustees.
Tru>t¢¢ authori#￿ to sl8n on behalf of all truste•i
MrP J McGu5ga
Date:
Page 6

Slr Wllllam Turn
Notes to the A
ed5A r1120
ACCOUNTING POLICIES
(al
Statutory Informatlon
Sir William Tumer Foundation is an unincorporated registered charity in England & Wales. The
principal address is given in the charity infonnation on page 1 . The nature of the charity is to
provide support to educational establishment5 in Redcar.
The financial statements are presented in sterling which 15 the funrtional currency of the charitable
company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless othenNise
stated.
The charityconstitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities,, Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 1021 Issued In
October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021, the Charitles Act 2011 and UK Generally Accepted Practlce.
Ibl
Funds structure
The charity ha5 permanent endowments which are invested in college buildings, investment5 and
cash at bank. Any recognised gains and interest received from these endowments are used for the
general purpose of the Trust.
Unrestricted funds comprise those funds which the trustees are free to use for any purpose in
furtherance of the charitable objetts.
(cl
Income recognltlon
All income is recognised oncethe charity has entitlement to the income, there is sufficient certainty
or receipt and so it is probable that the income will be received, and the amount of income
receivable can be measured reliabty.
Interest on funds held on deposlt Is InclLAded upon notification of the Interest paid or payable by
the Bank. Dividends are recognised once the dividend has been declared and notification has been
recelved of the dividend due. Income received from endowments Is unrestricted income.
(dl
Expendlture recognltlon
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charityto that expenditure.
All expenditure is accounted for on an accrual's basis. Irrecoverable VAT is charged to the SOFA as
incurred. All expenses, including support costs and goverriance costs, are allocated to the
applicable expenditure headings in the statement of financial actlvities.
Grants payable are included Expenditure once the Trust ha5 made an unconditional commitment
to paythe grant and this is communicated to the beneficiaryorthe grant has been paid, whichever
is the earlier. The Trust has not made anygrant commitments of more than one year.
Page 7

urner Foundation
Accounts
for the Ye
rEn
ACCOUNTI NG POLICIES (contlnued)
lel
Cost of ralslng funds
The costs of generating funds consist of investment management,
(fl
Flxed asset investments
Investments are initially recognised at their transaction value and subsequently measured at their
market valueas atthe balance sheet date usingthe quoted market price.The statementof financial
attivities includes the net gains and losses arising on revaluation and disposals throughout the
year,
The Trust does not acquire or use put option5, derlvatSves or other complex financlal In5trument5.
Igl
Investment In college bulldlngs
Investment in college buildings is recognised at their historic c05t. The investment is asse55ed for
Impairment by the trustees each year.
Ihl
Cash at bank and In hand
Cash at bank and in hand Includes cash and short tem hlghly Ilquld Investments wlth a short
maturity of one year or less from the date of acquisition or opening of the deposit or similar
account.
Reallsed galn5 and1055es
All galns and losses are taken to the statement of fSnanclal actlvlties as they arlse. Realised galns
and losses on investments are calculated as the difference between sales proceeds and their
opening carrying value or their purchase value if acqulred subsequent to the first day of the
financial year. Unrealised gains and losses are calculated as the difference between the fair value
at the year end and their carryingvalue.
(i)
Debtors and credltors recelvablelpayable wlthln one year
Debtors and creditor5 Vwith no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
TAXATION
The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where
they are applied for charitable purposes.
Page 8

Sir William Turner Foundation
Notes to the A
coun
ar Ended 5 A
ril 20
SCHEDULE OF INVESTMENTS
Movement In flxed asset Ilsted
Investments
Unrestrlcted Endowment
2024
2023
Market value brought forward at
6 April 2023
Additions to investments at cost
Dlsposals at carryingvalue
Net gain /11055) on revaluation
181773
113,413
(114.528)
21.421
1.998.119
506.601
(538.478)
258,390
2.180,892
2,301.928
620.014
1,026,104
(653.006) 11,105,963)
279.811
{41,177)
Market value a5 at 5 April 2024
203,079
2.224,632
2A27.711
2,180,892
Investment at falr value
Comprised:
2024
2023
Investments held within the investment portfolio
1427.711
2.180.892
Total
1427.711
2,180.892
All investments are carried at their fair value. Investment in equities and fixed interest securities are all
traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment
funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for
quoted investments 15 equivalent to the market value, using the bid price. Asset sales and purchases are
recognised at the date of trade at cost (that is their transaction value).
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Accruals
Grant provision
1100
49.621
1,980
34,668
51,721
36,648
UNRESTRICTED FUNDS
2024
2023
Unrestricted
Fund balance as at 6 April 2023
Net surpluslldeficit) in year
226.775
15,039
225,526
1,249
Fund balance at 5 April 2024
241,814
226,775
Page 9

Willla
ndatlo
Notes to the Accounts
rEn
24
ENDOWMENT FUNDS
2024
2023
Fund balance as at 6 April 2023
Investment management COStS
Profit on sale of Investments during the year
Increase/ldecrease} in value of investments during the
year
5.510.927
(13.3551
(81.557)
5,556,606
112,4231
5,079
339.947
138,335)
Fund balance as at 5 April 2024
5,755.962
5,510,927
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted Fund Endowment Fund
Total
Tangible fixed assets
Other net current assets
203.079
38.735
5,647,129
108,833
5,850,208
147,568
241.814
5.755.962
5.997,776
TRUSTEE REMUNERATION
No remuneration was paid to any of the trustees.
No expenses were paid to any of the trustees.
GRANTS AWARDED
Grants made in the year were awarded to individuals associated with Rodcar and Cleveland College and
other educational establishments approved by the Foundation. Grants awarded in the year amounted to
£40,17712023: £28,817). Grants paid totalled £25,224 in the year12023: £24,645).
10
RELATED PARTY DISCLOSURES
There were no related paty transactions that requlre dlsclosure forthe year ended 5 April 2024.
Page 10