Wycliffe College Foundation
Report and Financial Statements
Year Ended
31 August 2024
Registered charity number: 1078286

Wycliffe College Foundation
Report and financial statements
for the year ended 31 August 2024
Contents
Page
Trustees and advisers
Report of the Trustees
Independent auditor's report
8-10
Statement of financial activities
Balance sheet
12
Notes to the financial statements
13-20

Wycliffe College Foundation
Trustees and advisors
for the year ended 31 August 2024
TRUSTEES
The trustees who served during the year were..
Chairman:
Mr S F M Lloyd Bsc (Hons} Est Man, MRICS
Trustees..
Brigadier (Retd} R J Bacon, MBA, Chartered FCIPD, FCMI, CMILT
Mrs C J Duckworth MA (Hons)
Mr C A San José
M L B Godley
Secretary..
Mr A R Taylor MA (Cantabl (retired 21 August 2024)
Mr L Godley {appointment 21 August 2024)
Principal address-
Finance Department
Regent street
Stonehouse
Gloucestershire
GL10 2AD
Registered Charity Number.. 1078286
ADVISERS
Bankers
Lloyds Bank Commercial
Barnwood 1
Barnett Way
Gloucester
GL4 3RL
Solicitors
Harrison Clark Rickerbys
Ellenborough House
Wellington Street
Cheltenham
Gloucestershire
GL50 1YD
Auditors
Hazlewoods
Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 OUX
Investment managers
Paradigm Norton Financial Planning Ltd
Paradigm House
Macrae Road, Ham Green
Bristol
BS20 ODD

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024
The Trustees present their report with the financial statements of the charity for the year ended 31st August
2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1st January 2019).
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charitable Objects
The Charity's Objects, as set out in its Trust Deed, are to promote and advance the education of pupils of
Wycliffe College in particular by the following means..
a) making and granting scholarships, exhibitions, bursaries, maintenance allowances, grants, awards.
prizes and other benefactions tenable at the College.,
bl furthering or improving the education afforded by the College-
c) improving, modernising or maintaining the buildings and grounds of the College., and
d) by such other charitable means as the trustees determine from time to time.
In the furtherance of these aims, the Trustees have complied with the duty in Section 17 of the Charities Act
2011 to have due regard to the Charity Commission's published general and relevant sub-sector guidance
concerning the operation of the Public Benefit requirement under the Act.
Strategic Aim and Intended Impact
Within these Objects, Wycliffe College Foundation's aim is to support the aims of Wycliffe College by the
granting of scholarships and bursaries to existing and prospective pupils and through donations for the
improvement, modernisation and maintenance of the College and its properly.
Objectives for the Year
The focus continued to be further widening ofaccess to the education provided by Wycliffe College through the
granting of scholarships and bursaries.
strategies to Achieve the Year's Objectives
To derive sufficient income and capital growth from the investment portfolio to enable up to £147k (2023.. £127k)
to be awarded in scholarships and bursaries.
Principal activities of the year
The Charity has continued to support Wycliffe College through awards to pupils and donations for capital
projects.
Grant-making policy
The Charity has continued to make awards from unrestricted funds by way of scholarships and means tested
bursaries. Such awards are made either to enable pupils whose parents would otherwise have not been able
to afford full fees to benefit from an independent education at Wycliffe College, or to enable pupils to remain at
Wycliffe where financial circumstances have changed to the extent that such a pupil's education would
othe￿iSe be at risk. Awards made from restricted funds are made in accordance with the wishes of the original
donor. In addition, grants are made for various educational projects or other purposes from funds generated
by the Foundation Office. The objects of all funds {restricted and unrestricted) are listed on page 3.

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024 (continued)
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES - continued
OBJECT OF FUNDS
General Endowment Fund
For the improvement, modernisation and maintenance of Wycliffe College and its property and for the
furtherance and improvement ofthe education afforded by Wycliffe and for scholarships and bursaries to enable
boys and girls to benefit from an education at Wycliffe, in the expectation that such will endow the fund
subsequently and another generation may receive similar advantage.
The Lewis Bequest
There is a non-binding wish of the donor that the bequest be used for the purpose of enabling children to be
educated at Wycliffe.
The Loosley Endowment Fund Scholarship
To be awarded to a child or grandchild of a Wycliffian for entry into the Sixth Form - particularly one with talent
in either Music or Mathematics.
The Pearson Bursary
To enable a child to be educated at Wycliffe whose parents are unable to fund full fees.
The Wards Scholarship
To be awarded to a Wycliffian at st John's College, Cambridge or to assist one at another university.
The J H Edwards Bequest
To enable a child to remain at Vvycliffe who might for financial reasons leave.
The Sibly Scholarship
To be awarded to a vegetarian with qualities of character, promise of leadership and keenness in sport.
The Wilson Scholarship
To be awarded to a pupil talented in and studying Art or Music at age 13+
The Lloyd Robinson Award
To be awarded to a pupil talented at Sports, with preference given to cricket and rugby.
The Healey Bursary
To be awarded to children of Old Wycliffians who without such assistance would not be able to either enter the
College or continue their education at the College.
The Margaret Pendrill Scholarship
To be awarded to a Sixth Form pupil for Science.
The Selwyn Bursary
To be awarded to a girl living within twelve miles of Gloucester Cathedral and who attends Wycliffe College.
The Burnet Ward Bursary
To be awarded to a promising young person who, for financial reasons, would otheNise have not been able to
benefit from a Wycliffe education.
Keith Paget Fund
To be awarded to a pupil talented at Sports, with a preference given to squash.
Nowak Family Fund
This was a donation from a family whose child attended the College to fund a transformational bursary for a
pupil

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024 (continued)
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES - continued
Prep School Sports Pavilion
This was a fund-raising campaign (in 201512016) for a new sports pavilion for the cricket pitch at the Prep
School
Appeal Funds
These represent current gifts, donations, legacies etc. generated by the work of the Foundation Office since
May 2011. Expenditure is restricted to the specific purpose of each fund with the exception of the Trustees
Discretionary Fund.
ACHIEVEMENTS AND PERFORMANCE
Operational Performance
The Charity is pleased to have awarded a total of £147,000 (2023.. £126,780) to 6 pupils (2023.. 12 pupils) to
relieve hardship where a pupil's or potential pupil's education and future prospects would othewise have been
at risk.
Fundraising Performance
The Foundation Office has generated gifts and donations totalling £2,290 (2023.. £4,061). The Trustees are
most grateful for the continuing generosity and support of all the many donors.
Investment Performance
Throughout the year the portfolio continued to be managed, in accordance with the agreed investment strategy,
by Paradigm Norton Financial Planning Ltd. The value of the portfolio showed a decrease of 2.13 % over the
course of the year after taking into account cash inflows and outflows, compared to 12.7 % increase in FTSE
All-share Index.
FINANCIAL REVIEW
The rset movement in funds for the year was a profit of £92,541 (2023.. loss of £122,294), after crediting
£202,639 (2023.. debiting £20,578) of unrealised gains less realised gains of £9,383 (2023: £1,212) on
investment assets. The Trustees made awards and grants totalling £147,000 (2023 £126,780).
Reserves Policy
The Charity's total reserves of £1.9 million at 31st August 2024 (2023.. £1.81 million) included £1.3 million
restricted funds12023.' £1.2 million) leaving free reserves of £0.6 million {2023'. £0.6 million}.
The Charity's reserves policy is to maintain sufficient unrestricted reserves to enable it to meet its financial
obligations on a fund by fund basis. These obligations are reviewed annually. The Trustees consider that the
investments held by the Charity, as set out in the notes to the financial statements, together with other readily
realisable assets as stated in the Balance Sheet, meet this requirement.
Investment policy and objectives
The Trustees, policy is to maintain and to increase the purchasing power of the Charity's investment portfolio,
over the medium to long-term, after withdrawing each year such sums as may be specified from time to time.
Withdrawals may be met from income or from capital except from permanent endowed funds.

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024 (continued)
FUTURE PLANS
For the financial year 202412025, to continue to award scholarships and bursaries, to assist in and widen access
to the independent education provided by Wycliffe College. To continue to work with the Foundation Office of
Wycliffe College in its fundraising efforts.
GOING CONCERN
The Trustees have a reasonable expectation that there are adequate resources to continue in operational
existence for the foreseeable future. They believe that there are no material uncertainties that call into doubt
the charity's ability to continue as a going concern. The accounts have therefore been prepared on the basis
that the charity is a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity was founded in 1957 and is registered with the Charity Commission under charity number 1078286.
The Trustees and principal address ofthe Charity are listed on page 1. Particulars of the Charity's professional
advisers are also given on page 1.
Governing Document
During the year under review the Charity was governed by the Scheme dated 8th October 2009 which replaced
the former trusts of the Charity.
Governance Structure
The governing body consists of five ex-officio Trustees, two Nominated Trustees and ￿0 Co-opted Trustees.
The Ex-officio Trustees serving at 31st August 2023 were as follows..
The President of Wycliffe College Inc.
CMILT
The Chair of the Council of Trustees of Wycliffe College Inc. Mr S F M Lloyd Bsc {Hons) Est Man,
MRICS
The Vice-chair of the Council of Trustees of Wycliffe College Inc. Mrs C J Duckworth MA {Hons)
The Head of Wycliffe College Inc.
Mr C A San José
The Director of Finance & Operations of Wycliffe College Inc.
Brigadier (Retdl R J Bacon, MBA, Charlered FCIPD, FCMI,
Mr L B Godley
The Nominated Trustees are appointed..
One by the Council of Trustees of Wycliffe College Inc.
One by the Ex-officio Trustees - one vacancy
one vacancy
The Co-opted Trustees are appointed:
Two by the Trustees - two vacancies
Recruitment and Training of Trustees
The majority of Trustees are members of the Council of Trustees or Leadership Team of Wycliffe College Inc.
and all Trustees are included in the training provided by Wycliffe College. Trustees were offered a full
programme of briefings on charity law throughout the reporting period. New Trustees are inducted into the
workings of the Charity by the Secretary on appointment.

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024 (continued)
STRUCTURE, GOVERNANCE AND MANAGEMENT - continued
Organisational Management
The Trustees met twice during the year to review investment performance, to approve the annual accounts, to
discuss the granting of scholarships and bursaries, and the general operation of the Charity.
The Trustees are aware of the Charity Code of Governance and its principles, and how they affect the Charity.
Group Structure and Relationships
Wycliffe College (Incorporated) is a separate charity and legal entity with parallel objects and common
administration and trusteeship.
The Charity benefits from the generosity of a thriving neI￿Ork of Old Wycliffians and also parents of pupils at
the school.
Risk Management
The Trustees are responsible for the management of risks faced by the Charity.
Key controls used by the Charity include..
to receive periodic financial reports from the Director of Finance & Operations and to meet on at least two
occasions per annum.,
formal agendas for all Board activity distributed at least 7 days before meetings.,
financial management information presented to Trustees well in advance of meetings.,
established organisational structure and lines of reporting.,
clear authorisation and approval levels.,
use of investment advisers, Paradigm Norton Financial Planning Ltd, to manage the investment portfolio,
in accordance with the Investment Policy Statement drawn up by the Trustees.
Through the risk management processes established for the Charity, the Trustees are satisfied that major risks
identified have been adequately mitigated wherever reasonably practicable.

Wycliffe College Foundation
Report of the Trustees
for the year ended 31st August 2024 (continued)
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Truslees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted
Accounting Practice).
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. The trustees
have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). The Trustees must not approve the
financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
Charity and of the incoming resources and application of resources, including the income and expenditure, of
the Charity for that period.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Statement of Recommended Practice "Accounting and
Reporting by Charities" the SORP applicable to charities preparing their accounts in accordance with
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2019)
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
Approved by the Trustees on
and signed on their behalf by=
MrSFMLloyd
Chair of the Council of Trustees

Wycliffe College Foundation
Independent Auditors, Report to the Members of Wycliffe College Foundation
for the year ended 31 August 2024
Opinion
We have audited the financial statements ofwycliffe College Foundation (Charity) for the year ended 31 August
2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and
the related notes. The financial reporting framework that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the slate of the Charity's affairs as at 31 August 2024, and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of the Charites Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the
audit of the financial statements section of our report. We are independent of the academy trust in accordance
wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe Ihat the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included
in the Reference and Administrative details, Governors, Report and the Governance Statement, other than the
financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover
the other information and, except to the extent otherwise explicitly stated in our report, we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or othemise appears to be materially misstated. Ifwe identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report thal fact.
We have nothing to report in this regard.

Wycliffe College Foundation
Independent Auditors, Report to the Members of Wycliffe College Foundation
for the year ended 31 August 2024
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires
us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the trustees,
report., or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explarsations we require for our audit.
Responsibilities of Trustees
As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustees determine is necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the governors either intend to liquidate the charity or to cease operations, or have
no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
regulations made under the Act and relevant regulations made or having effect thereunder. Our responsibility
is to audit and express an opinion on the financial statements in accordance with applicable law and
International Standards of Auditing (UK and Ireland). Those standards require us to comply with the Auditing
Practices Board's Ethical Standards for Auditors.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
We obtained an understanding of the legal and regulatory frameworks applicable to the company
financial statements or that had a fundamental effect on the operations of the company. We determined
that the most significant laws and regulations included UKGAAP, UK Companies Act 2006 and taxation
laws.,
We assessed the susceptibility of the company's financial statements to material misstatement,
including how fraud might occur. Audit procedures performed by the engagement team included
challenging assumptions and judgments made by management in its significant accounting estimates
and identifying and testing journal entries, in particular any journal entries posted with unusual
characteristics.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

Wycliffe College Foundation
Independent Auditors, Report to the Members of Wycliffe College Foundation
for the year ended 31 August 2024
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.org. uklauditorsresponsibilities. This description forms part of our
auditor's report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with the Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
Date
Scott Lawrence FCA DChA {Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor
Staverton
10

Wycliffe College Foundation
Statement of financial activities
for the year ended 31 August 2024
Note
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Income and endowments
from:
Voluntary sources
Donations and
legacies
2,230
60
2,290
4,061
Investments
13,697
26,987
40,684
34,372
Total income and
endowments
15,927
27,047
42,974
38,433
Expenditure on:
Raising funds
Charitable activities
(4,168)
(83,850)
(8,307)
(66,150)
(12,475)
(150,000}
112,431)
(128,5801
Total expenditure
{88,018}
(74,457)
(162,475)
(141,011)
Net Incoming funds from
operations before
investment gains
(72,091)
(47,410}
{119,501)
{102,578)
Net gainsl(losses) on
Investment assets
70,671
141,371
212,042
(19,716)
Net (expenditure)lincome
(1,420)
93,961
92,541
{122,294}
Net movements in funds
(1,4201
93,961
92,541
(122,294)
Reconciliation of funds
Total funds brought fO￿ard
636,001
1,176,187
1,812,188
1,934,482
Total funds carried
forward
634,581
1,270,148
1,904,729
1,812,188
The notes on pages 13 to 20 form part of these financial statements
11

Wycliffe College Foundation
Balance Sheet at 31 August 2024
2024
2023
Notes
FIXED ASSETS
Investments
1,869,669
1,910,332
CURRENT ASSETS
Debtors
Cash at bank and in hand
2,738
35,322
32,120
Creditors: Amounts falling due within one year
10
3,000
130,264
Net current assets
35,060
98,144
Net assets
1,904,729
1,812,188
Funds
Unrestricted funds
Restricted funds
12
12
634,581
1,270,148
636,001
1,176187
1,904,729
1,812,188
Total funds
The financial statements were approved by the board of trustees on
and signed on its behalf by:
MrLB
Trustee
odley
Secretary
The notes on pages 13 to 20 form part of these financial statements
12

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
Legal status of the charity
Wycliffe College Foundation is a charity registered with the Charity Commission in England and Wales,
registration number 1078286 and is governed by the Scheme dated 81h October 2009. The principal
address is Regent Street, Stonehouse, Gloucestershire, GL10 2AD.
Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP 2nd Edition IFRS 102) Accounting and Reporting by
Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102} (effective 1 sl January 20191, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention, with the exception
of investments which are held at market value.
The presentational currency of these financial statements is £ sterling and amounts are rounded to the
nearest £1.
The following accounting policies have been applied..
Going concern
The Trustees have considered whether it is appropriate to prepare accounts on a going concern basis.
They have a reasonable expectation that there are adequate resources to continue in operational
existence for the foreseeable future. They believe that there are no material uncertainties that call into
doubt the charity's ability to continue as a going concern. The accounts have therefore been prepared
on the basis that the charity is a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Income from dividends is included in the Statement of Financial Activities when they are received.
Income from bank interest is included in the Statement of Financial Activities on an accruals basis.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably.
13

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
Accounting policies (continued)
Allocation of Income and Expenditure - Scholarship and Bursary Funds
Various Trust funds were merged on 151 January 1994 and since 1s1 September 2001 the apportionment
of income and non-attributable expenditure has been based upon fund balances as at the beginning of
each financial year as adjusted for significant donations during the year. Since 1st September 2008
Governance Costs have all been charged to Unrestricted Funds.
For Funds established since May 2010, the apporlionment of income and non-attributable expenditure
has been based upon fund balances as recalculated at 151 September, 151 January and 1s1 May.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding
transaction costs.
Subsequently, they are measured at fair value with changes recognised in net
gainsl{losses} on investments in the Statement of Financial Activities if the shares are publicly traded
or their fair value can otherwise be measured reliably. Other investments are measured at cost less
impairment.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity ofthree months or less from the date ofacquisition or opening ofthe deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due to settle the obligation can
be measured or estimated reliably. Creditors are normally recognised at their setllement amount.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at amortised cost with the exception of investments which are held at fair value.
Taxation
As a registered charity, Wycliffe College Foundation is not liable to income tax and corporation tax on
income and gains derived from its charitable activities as it falls within the various exemptions available
to registered charities.
Fund accounting
Unrestricted Funds are available to the Trustees to apply for the general purposes of the Trust as set
out in the Trust Deed.
Restricted Funds consist of net incoming resources from Endowed Funds and Appeal Funds.
Endowed Funds consist of scholarship and bursary funds set up by individual donors. Each Fund is
allocated its proportion of investment gains and losses.
14

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
Critical accounting estimates and assumptions
The charity makes estimates and assumptions concerning the future. The resulting accounting
estimates will by definition, seldom equal the actual results. There are no estimates or assumptions
that are deemed to have a significant risk of causing material adjustment to the carrying amounts of
assets and liabilities within the next financial year.
Donations and legacies
Unrestricted
2024
Restricted
2024
Total
2024
Donations
2,230
60
2,290
Unrestricted
2023
Restricted
2023
Total
2023
Donations
3,001
1,060
4,061
Expenditure
Unrestricted
2024
Restricted
2024
Total
2024
Expenditure on raising funds..
Investment management costs
4,168
8,307
12,475
Expenditure on charitable activities..
Scholarships and bursaries
Governance costs
Total charitable expenditure
Total expenditure
80,850
3,000
83,850
88,018
66,150
147,000
3,000
150,000
162,475
66,150
74,457
Unrestricted
2023
Restricted
2023
Total
2023
Expenditure on raising funds..
Investment management costs
4,676
7,755
12,431
Expenditure on charitable activities..
Scholarships and bursaries
Governance costs
51,225
1,800
75,525
126,780
1,800
Total charitable expenditure
Total expenditure
53,055
57,731
75,525
83,280
128,580
141,011
15

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
Expenditure (continued)
Governance costs represent the support costs of the charity and these can be summarised as follows:
2024
2023
Auditor's remuneration for audit services
3,000
1,800
Trustees remuneration and benefits
No Trustee received any remuneration, expenses or other benefits form the Trust during the year (2023 -
£Nill.
Employees
The charity had no employees in the current or previous year.
Listed investments
2024
2023
Market value at 1 September
Additions
Disposals
Realised gainsl(losses) on disposals
Unrealised gainsl(losses) on revaluation
1,870,030
801,437
{1,050,615)
9,383
202,639
1,868,392
63,485
(42,481)
1,212
120,578)
Market value at 31 August
Cash on deposit
1,832,874
36,795
1,870,030
40,302
1,869,669
1,g10,332
9 Debtors
2024
2023
Amounts owed by related party
2,738
2,738
16

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
10 Creditors: amounts due in one year
2024
2023
Amounts owed to related party
Accruals
127.264
3,000
3,000
3,000
130,264
11 Analysis of net assets between funds
Fund
Balances
2024
Current
Assets
Current
Liabilities
Investments
Unreslricted funds
Restricted funds
625,201
1,244,468
12,380
25,680
(3,000)
634,581
1,270,148
1,869,669
38,060
3,000
1,904,729
Fund
Balances
2023
Current
Assets
Current
Liabilities
Investments
Unrestricted funds
Restricted funds
683,723
1,226,609
82,542
{50,422)
(130,264)
636,001
1,176,187
1,910,332
32,120
130,264
1,812,188
17

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
12
Funds
Balance
Investment
Galnsl
Ilossesl
Balance
31 August
2024
1 September
2023
Incoming
Resources
Resources
Expended
Unrestricted funds
General Fund
Lewis Bequest
Trustees Discretionary
Fund
130,147
383,775
122,079
4,803
8,265
2,859
(1,467)
{85,175}
(1,376)
14,462
42,644
13,565
147,945
349,509
137.127
Total unrestricted funds
636,001
15,927
{88,0181
70,671
634,581
Restricted funds
General Endowment Fund
Loosley Endowment Fund
Pearson Bursary Fund
Ward's Scholarship Fund
J H Edwards Bequest Fund
Sibly Scholarship Fund
Wilson Scholarship Fund
Selwyn Bursary Fund
Bursaries Fund
Burnet Ward Bursary
Educational Grants fund
Honours Boards
Prep School Sports Pavilion
Miscellaneous Funds
Hardship Fund
Nowak Family Fund
Keith Paget Fund
61,275
276,624
88,454
139,549
51,339
77,791
36,999
69,697
103,684
66,212
1,694
1,060
22,430
3,030
1,470
143,467
31,412
1,406
6,347
2,030
3,202
1,178
1,785
849
1,598
2,379
1,579
39
24
515
69
34
3,292
721
(433)
(1,954)
18,365)
{2,486)
{363)
{549)
(261)
(5,492)
(732}
(4,5931
(12}
{7}
(158)
(21)
{10)
(48,798)
(222)
7,365
33,248
10,632
16,773
6,171
9,350
4,447
8,377
12,462
7,958
204
127
2,696
364
177
17,244
3,776
69,612
314,265
92,751
157,038
58,325
88,377
42,034
74,180
117,793
71,156
1,925
1,204
25,483
3,442
1,671
115,205
35,687
Total restricted funds
1,176,187
27,047
(74,457)
141,371
1,270,148
Total funds
1,812,188
42,974
162,475
212,042
1,904,729

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
12
Funds (continuedl
Balance
Investment
Gainsl
(losses)
Balance
31 August
2023
September
2022
Incoming
Resources
Resources
Expended
Transfers
Unrestricted funds
General Fund
Lewis Bequest
Trustees Discretionary
Fund
134,282
422,219
128,726
3,921
8,244
3,741
(6,640)
(42,046)
(9,045)
(1,417)
(4,642)
(1,343)
130,147
383,775
122,079
Totsl unrestricted funds
685,228
15,906
57,731
7,402
636,001
Restricted funds
General Endowment Fund
Loosley Endowment Fund
Pearson Bursary Fund
Ward's Scholarship Fund
J H Edwards Bequest
Fund
Sibly Scholarship Fund
Wilson Scholarship Fund
Selwyn Bursary Fund
Bursaries Fund
Burnet Ward Bursary
Educational Grants fund
Honours Boards
Prep School
Pavilion
Miscellaneous Funds
Hardship Fund
Nowak Family Fund
Keith Paget Fund
61,266
276,510
95,600
140,410
63,293
145
1,744
71
2,650
702
(52}
(630)
(7,176)
(2,277)
(12,253)
(84)
{1,000)
{41)
(1,234)
1403)
1448)
1286)
(1,638)
(2,200)
(1,579)
(25)
(22)
{476)
(64)
(31)
(1,989}
{794}
61,275
276,624
88,454
139,549
51,339
77,740
36,967
72,010
103,434
70,097
1,191
1,057
22,376
781
498
2,856
3,836
2,814
544
39
{282)
(180)
(3,531)
(1,386)
(5,120)
(16)
(14)
(300)
77,791
36,999
69,697
103,684
66,212
1,694
1,060
22,430
Sports
830
3,022
1,467
188,492
34,322
112
54
3,467
1,384
(40)
120)
(46,503)
(3,500)
3,030
1,470
143,467
31,412
Total restricted funds
1,249,254
22,527
83,280
12,314
1,176,187
Total funds
38,433
141,011
19,716
1,812,188
19

Wycliffe College Foundation
Notes to financial statements
for the year ended 31 August 2024
12 Funds (continued)
Unrestricted Funds are available to the Trustees to apply for the general purposes of the Trust as set out in the
Trust Deed.
Restricted Funds consist of net incoming resources from Appeal Funds.
Each Fund is allocated its proportion of investment income and bears its own expenses.
13 Related parties
As at the balance sheet date, the Foundation was owed £2,737 (2023: owe £127,264 to} by Wycliffe College.
20