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