2023-07-31-accounts - The Oundle School Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Oundle School Foundation Illllll 11 ' GRANT . GTr Annual Report and Financial Statements for the year ended 31 July 2023 Charity number.. 1075698

TRUSTEES, OFFICERS, BANKERS AND ADVISERS FOR THE YEAR
ENDED 31JULY 2023.....~....
TRUSTEES' REPORT FOR THE YEAR ENDED 31JULY 2023..	............4-9
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OFTHE OUNDLE
SCHOOL FOUNDATION.	..10-13
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31JULY 2023..........14
BALANCE SHEET AS AT 31JULY 2023.
NOTES TO THE FINANCIAL STATEMENTS FORTHE YEARENDED 31JULY 2023....16-27

					Total	Return	%	Return Objective
Oundle	School	Foundation	Endowment	Fund		0.9%		13% (RPI +4%)
Oundle	School	Foundation	Expendable	Fund		0.8%		9% (RPI)

						Total	Total
						Foundation	Foundation
						Funds	Funds
			Unrestricted	Restricted	Endowment	Year ended	Year ended
			income funds	income funds	funds	31July 2023	31July 2022
			f'000	f'000	f'000	E'000	f'000
		Note					(Note 18)
INCOME AND ENDOWMENTS
FROM:
Donations and legacies			303	625	1,665	2,593	1,102
Investme nts			10	547		557	599
Total income and endowments				1,172	1,665	3,150	1,701
EXPENDITURE ON:
Raising funds
Raising donations and legacies			(270)			(270)	(299)
Investment management	costs				(128)	(128)	(131)
Charitable activities				(1,529)		(1,529)	(757)
Other expenditure
Total expenditure			(281)	(1,529)	(128)	(1,938)	(1,198)
Net (expenditure)/income	and
net movement in funds before				(357)	1,535	1,210	503
gains and losses on investments
Net losses on investments				(9)	(205)	(215)	(53)
Net income/(expenditure)				(366)	1,330	995	450
NET MOVEMENT IN FUNDS
Fund balances brought forward at 1August			119	2,060	17,626	19,805	19,355
FUND BALANCES CARRIED FORWARD AT31July			150	1,694	18,956	20,800	19,805

					2023	2022
				Note	f'000	f'000
Fixed assets
Investments					17,944	17,861
Current assets
Debtors					857	210
Cash at bank	and	in	hand		2,019	1,768
Total current	assets				2,876	1,978
Creditors: amounts			falling due within one year	10	(20)	(34)
Net current	assets				2,856	1,944
Net assets					20,800	19,805
The funds ofthe		Foundation:
Endowment	funds			12	18,956	17,626
Restricted income		funds		13	1,694	2,060
Unrestricted	income		funds	14	150	119
Total Foundation		funds			20,800	19,805

During the y	ear t	he Foundatio	n made donations to Oundle	School in respect ofthe following:
				Year ended	Year ended
				31July 2023	31July 2022
				f'000	f'000
Bursaries				815	548
Scholarships				281	196
New buildings	and	equipment		412
Other				21
Total expenditure		on charitable	activities	1,529	757

		2023	2022
		f'000	f'000
Audit	fee in respect ofcurrent year
VAT	on audit fees
Audit	fee in respect of prior year
Total	other expenditure

					2023	2022
					f'000	f'000
Valuation	at beginning	ofyear			17,861	17,471
Additions	at cost				428	574
Disposals	at market value ofinvestments
Decrease	in market value of investments		after management	costs	(345)	(184)
Total					17,944	17,861
Cash
Net book	value at 31July				17,944	17+61

t th	e year end investments comprised:
		2023	2022
		f'000	f'000
Multi	Asset Funds	17,944	17,861
Net	book value at 31July	17,944	17,861

						2023	2022
						f'000	f'000
Gift Aid refund						2
Accrued income						853	156
Due from The Corporation			ofOundle	School		2
Total debtors						857	210
10.Credit	ors:	amounts		falling due within	one year
						2023	2022
						f'000	f'000
Other creditors						10	10
Due to The Corporation		of	Oundle School			10	24
Total creditors	falling	due	within one	year		20

1.Net	assets by fun	d
			Current	Current	2023 Fund
		Investments	Assets	Liabilities	Balance
		E'000	f'000	f'000	f'000
Unrestricted	income funds	41	120	(11)	150
Restricted income funds		462	1,241	(9)	1,694
Endowment	funds	17,441	1,515		18,956
Total		17,944	2,876	(20)	20,800

				Current	Current	2022 Fund
			Investments	Assets	Liabilities	Balance
			f'000	f'000	f'000	E'000
Unrestricted		income funds	28	110	(19)	119
Restricted	income funds		485	1,590	(15)	2,060
Endowment		funds	17,347	279		17,626
Total			17,860	1,979	(34)	19,805

		Balance		Net		Balance
		1August		(losses)/gains		31July
		2022	Income	on	investments	2023
		E'000	f'000		E'000	f'000
Bursaries 5Scholarships		11,747	344	(226)		11,865
General Endowment		1,690	2		(33)	1,659
De Angeli		869	1		(17)	853
James Bursary		766	1		(15)	752
Thommy Purbrook		733	3		(1S)	721
Manners Wood		667	1		(13)	655
Sheila Mary Rideout			600			600
Brian Booth			504		5	509
Dudley Heesom		199	208		(2)	405
Frank Spragg		384			(8)	376
Anthony Solomons		205			(4)	201
John Matthews		152			(3)	149
Reilly Scholarship		139			(3)	136
Other endowments		75			(1)	75
Total endowment	funds	17,626	1,665	(335)		18,956

or comparison,	last year's endo	wment fund movement	s were as fo	llows:
		Balance		Net (losses) on	Balance
		1August		investments	31July
		2021	Income	f'000	2022
		f'000	f'000		f'000
Bursaries &Scholarships		11,586	279	(118)	11,747
General Endowment		1,705		(17)	1,690
De Ange li		877		(9)	869
James Bursary		773		(8)	766
Thommy Purbrook		737		(7)	733
Manners Wood		673		(7)	667
Frank Spragg		388		(4)	384
Anthony Solomons		207		(2)	205
Dudley Heesom		201		(2)	199
John Matthews		153		(2)	152
Reilly Scholarship		140		(1)	139
Other endowments		76		(1)	75
Total endowment	funds	17,516	288	(178)	17,626

description ofthe main	description ofthe main	endowed funds, with a value over f100,000 at 31July	endowed funds, with a value over f100,000 at 31July	endowed funds, with a value over f100,000 at 31July	2023, is given below:
Bursaries	g Scholarships:	Income	to be used for the provision	of bursaries	and scholarships at
		Oundle	School.
General	Endowment:	Income	to be used for the provision	of bursaries	and scholarships at
		Oundle	School, but without precluding the use		ofincome for other
		purposes.
De Angeli:		Income	and capital to be used for the provision		of bursaries at Oundle
		School,	primarily for pupils at School	House.
James Bursary:		Income	and capital to be used forthe provision		of bursaries at Oundle
		School.
Thommy	Purbrook:	Income	to be used for the provision	ofgeneral	scholarships at Oundle
		School.
Manners	Wood:	Income	to be used for the provision	ofbursaries	at Oundle School.
Frank Spragg:		Income	to be used to support Annual	Scholarships at Oundle School.
Anthony	Solomons:	Income	to be used for the provision	ofArt Scholarships at Oundle School.
Dudley Heesom:		Income	to be used for the provision	ofSixth Form history scholarships		at
		Oundle	School.
John Matthews:		Income	to be used to fund a general	scholarship	for a pupil to enter
		Oundle	School in the Third Form.
Reilly Scholarship:		Income	to be used to provide a scholarship for		an academically able good
		all round	pupil of Laxton.

							Net gains
	1August	Donations	Investment	Grant-	Admin	Trans-	on	31July
	2022		Income	making	Expenses	fers	investments	2023
	f'000	f'000	f'000	f'000	f'000	f'000	f'000	f'000
Restricted income from
endowed funds
Bursaries &Scholarships	233		335	(495)				72
General Endowment	92		48	(129)				10
James Bursary	100		25					125
Manners Wood	82		20	(19)				83
De Ange li	63		26	(34)				55
Anthony Solomons	21		6					27
Brian Booth			9					9
Other endowments	163		29	(28)				164
Restricted Funds
General Scholarship	63	215		(228)				55
Sports Master Plan	17							21
Thommy Purbrook	123		23	(25)			(1)	120
General Bursary	187	337	7	(63)			(1)	467
Zimmern Bursary	97		2	(42)			(1)	56
Laxton Junior School	339		1	(327)			(1)	12
Other Restricted	387	68	9	(109)			(2)	353
Other Bursaries &
Scholarships	93		2	(30)				65
Totat	2,060		547	(1429)			(9)	1,694

							Net gains
	1August	Donations	Investment	Grant-	Admin	Trans-	on	31July
	2021		Income	making	Expenses	fers	investments	2022
	E'000	E'000	E'000	f'000	E'000	E'000	E'000	E'000
Restricted income
from endowed funds
Bursaries 5
Scholarships	245		387	(398)				233
General Endowment	36		56					92
James Bursary	73		27					100
Manners Wood	69		23	(10)				82
De Angeli	64		30	(31)				63
Anthony Solomons	22		7	(8)				21
Other endowments	189		12	(37)				163
Restricted Funds
General Scholarship	11	207		(155)				63
Sports Master Plan	11	6						17
Thommy Purbrook	101		27	(4)				123
General Bursary	69	177	1	(59)				187
Zimmern Bursary	135		1	(39)				97
Laxton Junior School	337		3					339
Other Restricted	339	55	10	(16)				387
Other Bursaries 5
Scholarships	77		14
Total	1,778			(757)			(5)	2,060

						Grants to
	1August				Admin	0undle	31July
	2022	Investments	Donations	Designation	Expenses	School	2023
	E'000	E'000	E'000	E'000	E'000	E'000	f'000
Unrestricted
income funds
General funds	119		303			(270)	150
Total	119		303			(270)	150

						Grants to
					Admin	Oundle	31July
	1August 2021	Investments	Donations	Designation	Expenses	School	2022
	E'000	E'000	E'000	E'000	E'000	E'000	E'000
Unrestricted
income funds
General funds	61		367		(10)	(299)	119
Total	61		367		(10)	(299)	119

								Total
								Foundation
								Funds
				Unrestricted	Restricted			Year ended
				income funds	income funds	Endowment	funds	31July 2022
				f'000	f'000		f'000	f'000
			Note
INCOME AND ENDOWMENTS
FROM:
Donations and legacies				367	447		288	1,102
Investme nts				1	598			599
Total income and endowments				368	1,045		288	1,701
EXPENDITURE ON:
Raising funds
Raising donations and legacies				(299)				(299)
Investment management	costs						(131)	(131)
Charitable activities					(757)			(757)
Other expenditure				(10)
Total expenditure				(309)	(758)		(131)	(1,198)
Net income and net movement		in
funds before gains and losses		on		59	287		157	503
investments
Net (losses) on investments					(5)		(47)	(53)
Net income				58	282		110	450
NET MOVEMENT IN FUNDS
Fund balances brought forward at 1August				61	1,778		17,516	19,355
FUND BALANCES CARRIED FORWARD AT31July				119	2,060		17,626	19,805

Illi'okitsy¥ii' www.oundleschool.org.uk