REGISTERED CHARITY NUMBER: 1087756 Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 for ROY WOOOWARD EDUCATIONAL FOUNDATION TAG Accountants Group Limited Unit 8, Pendeford Place Pendeford Business Park Wobaslon Road Wolverhampton WV9 5HD
ROY WOODWARD EDUCATIONAL FOUNDATION Contonts of the Financial Statomont8 for the Year Ended 31 March 2025 Page Report of the Trustees Indopendont Examlnor's Report Statement of Financial Activities Balance Sheel Notes to the Flnanclal Statements 6 to 10 Detalled Statement of Flnanclal Actlvltles
ROY WOODWARD EDUCATIONAL FOUNDATION
Report of Ihe Trustees
for the Year Ended 31 Mah 2025
The trustees present thelr report 1h thè financial statem8nls of the d)arlty fcK the yèar ended 31 March 2025. The trusle8s have
arknpted the provIsnS of ACCInts.ng and Reporting by Charities.. Stalenwit of Recommended Pracllce aPpIAble lo chant
preparing their accounts In acCdanCe wrth the Financial Reporting SlarKJard applicable in Ihe UK and Republic ol Ireland IFRS
102> (effectNe 1 January 20191.
OBJECTIVES AND ACTMTIES
Oblectlves and alms
The objects of the Fwndalion are the provision of charitable benafrts f. first. King Charles I Schcol. and then its 8xistiTVJ aTrJ
fom)er students. Th8 Trustees Cx)nts'nue to wot closely with th8 School in (Kder lo find the best ways lo satisty thes8 obpcts. There
ts regular communicalK)n wlh the Head of the Schcxjl, who attends Trustees. meetin9s in an advisory capacrty and provides updates
on devebpffEnls in both the School and The Four Slones Mulli-Academy Trust. of whbGh the SchrKA is a part. One of the Trustees is
a Govemor of the Sthool's Local Academy Body. There is also chjse liaison with the Old Carolian Association. an association of
fom18r students of the S((M)I, of whith some of the Trusle88 are themselves membern.
AJI tharltsblg a(wb93 fws on thg objects and are urKJertaken to lurther charitsblg purpose5 for ihe public benefft,
ACHIEVEMENT AND PERFORMANCE
Charttable actlvltbes
In addition lo their nomial grant making actsvrts. the Trustees. b.ng very mlndful ol the current cost of living cris45. cuts In public
funding and olher budgetary pressures on families. have b8en in discussions with the Head of the School to sel up 8 Hardship Fund
lo assisl pupils whose educational chances are Presently hampered by these issu8s. They are working closely with the Head aTh
with senior memb8r5 of his staff, to ostablish protocols and procèdures lo admini518r this to ensure those puplls have th8lr
educatial chances enhanced. £6,000 has been sel aside as an initsal reserye Into this Fund.
FINANCIAL REVIEW
Inv•8tm•nt policy and oblectlves
The Foundalbon's Funds are invested 1th COIF. Irbvestswil perf0mnCe is reew by the Twstees 8t thelr quartety meetings
followirvJ recp1 ol the COIF Quarterly ReFts. Annually the Truste8s meet wth representatives ol COIF to revlew th6 inv8slm8nt
PO8rtK)n, to consider incom8 requirements and to agree invesbi)8nl obj'ectives for the forthcoming year.
The discussS the Foundatic'S ¢(0¥mOr5 to explore the developmenl opbons in respect of lhe land at Hoo Fam have
continued dunng Ihe year. The l)sItIOn is complex, bul much progress has been made. If the ulbmate
ROY WOODWARD EDUCATIONAL FOUNDATION Report of the Trustees for the Year Ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087756 Principal address Adam House Birmingham Road Kidderminster WOrStershIre DY10 2SH Trustees Mrs L Glencaim-campbell MrAJ Neal MrSJWyer Mr J A Douglas Mr T Gulliver Miss L R Heath (appointed 15.4.24) Mr A J Neal passed away on 19 August 2024. The Trustees wish lo acknowledge his considerable seNice. The Clerk lo the Trustees is Miss Rachel Summers. Independent Examlner Mr Anthony Lee Morris FCCA TAG Accountants Group Limited Unil 8, Pendeford Place Pendeford Business Park Wobaslon Road Wolverhampton WV9 SHD SollcStors Mfg Solicitors LLP Adam House Birmingham Road Kidderminster Worcestershire DY10 2SH Bankers National Westminster Bank PIC 24 High Street Kidderminster WOrStershIre DY10 2DL Approved by order of the board of trustees on 30 July 2025 and signed on its behalf by.. Mr S J Wyer- Trustee Page 2
Independent Examiner's Report to the Trustees of ROY WOODWARD EDUCATIONAL FOUNDATION Independent examinerfs report to the trustees of ROY WOODWARD EDUCATIONAL FOUNDATION I report to the charity trustees on my examination of the accounts of ROY VVOODWARD EDUCATIONAL FOUNDATION (the Trust) for the year ended 31 March 2025. Responsibilities and basis of roport As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'lhe AcV}. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed 811 applicable Directions given by the Charity Commission under Section 145{5)Ib) of the Act. Indopendent examSnorfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view whiGh is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whlch attenllon should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. A.4Q.. ¢rrp> Mr Anthony Lee Morris FCCA TAG Accountants Group Limited Unil 8, Pendeford Place Pendeford Business Park Wobaslon Road Wolverhampton VVV9 5HD 30 July 2025 Page 3
ROY WOODWARD EDUCATIONAL FOUNDATION Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Endowment funds Notes INCOME AND ENDOWMENTS FROM Investment income 64,323 64,323 63,411 EXPENDITURE ON Charltsble actlvltles Educational support 52.291 52.291 102.293 Nel gainsl{lossesl on investments {80,1851 180,1851 135,659 NET INCOMEI{EXPENDITUREI 12,032 180,1851 168,1531 96,777 RECONCILIATION OF FUNDS Total funds brought forward 47,696 2.128,687 2.176,383 2.079,606 TOTAL FUNDS CARRIED FORWARD 59,728 2,048,502 2,108,230 2,176,383 The notes fomi part of these financial statements Pag8 4
ROY WOODWARD EDUCATIONAL FOUNDATION Balance Sheet 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Endowment funds Notes FIXED ASSETS Investments 2,048,502 2,048,502 2,128,687 CURRENT ASSETS Debtors Cash at bank 1.572 63,557 1,572 63,557 950 51,972 65.129 65.129 52,922 CREDITORS Amounts falling due within one year (5.4011 {5,4011 (5,226) NET CURRENT ASSETS 59,728 59,728 47,696 TOTAL ASSETS LESS CURRENT LIABILITIES 59,728 2,048,502 2,108,230 2,176,383 NET ASSETS 59,728 2,048,502 2,108,230 2,176,383 FUNDS Unrestricted funds.. General Fund School's Swimming Pool Fund Hardship Fund 10 43,728 10,000 6,000 34,196 7,500 6,000 59,728 47,696 Endowment funds: Endowment Funds- Al Cost Investment Revaluation Reserve 971,933 1,076,569 971,933 1,156,754 2,048,502 2,128,687 TOTAL FUNDS 2,108,230 2,176,383 Thè financial stat8ménts ware approved by the Board of Trusteès and aulhorised for issuè on 30 July 2025 and were signed on its behalf by.. Mr S J Wy8r- Trustee Mr J A Douglas - Trustee The notes fomi part of these financial statements Pag8 5
ROY WOODWARD EDUCATIONAL FOUNDATION Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of prèparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepare(i in accordance with the Charities SORP IFRS 102} 'Accounting and Reporting by Charities-. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 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 included at market value. as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entiuement to the funds, il is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to actsvities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met al the year end da18 are not8d as a commitm8nt but not accrued as exwnditure. Taxatlon The charity is exempt from lax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are amounts whith have been set aside al the discretion of the Trustees for a specific. but not legally binding, purpose. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specifièd by th8 donor or when funds ar6 raised for particular reslncted purposès. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Investments Fixed assets inveslmenls are staled at market value at the balance sheet date. All gains and losses are taken to the stal8menl of financial activities as Ih8y aris8. Realisable gains and losses arè calculated as the difference belween the market value al the year end and opening market value. The value of shares can decrease as well as increase., hence the amount disclosed in the balan sheet may not represent that which may be received on any subsequenl disposal. INVESTMENT INCOME 31.3.25 31.3.24 Rents received Income from listed investments Interest receivable 667 62.388 1,268 503 61.168 1,740 64,323 63,411 Page 6
ROY WOODWARD EDUCATIONAL FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 March 2025 CHARITABLE ACTIVITIES COSTS Granl funding of activities {see note Support costs (see note 51 41 Totals Educational support 40,875 11,416 52,291 GRANTS PAYABLE 31.3.25 31.3.24 Educational support 40,875 92.750 The total grants paid lo Institutions dudng the year was as follows.. 31.3.25 31.3.24 King Chades 1 School 32,375 86,000 During th8 year grants wer8 awarded lo 24 individuals. SUPPORT COSTS Govemance costs Educational support 11.416 Support costs, included in the above, are a5 follows: Governanco costs 31.3.25 Educational support 31.3.24 Total activities Accountancy Clerks fees and disbursem8nls Trustee indemnity insurance Other legal fees and managing agents 3,120 6,003 1,294 999 2,556 4.803 1,235 949 11,416 9,543 TRUSTEES. REMUNERATION AND BENEFITS There were no trust&s' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 7
ROY WOODWARD EDUCATIONAL FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 March 2025 TRUSTEES, REMUNERATION AND BENEFITS- ¢ontlnued Trustèos. expenses Trustee indemnity insurance paid by the Foundation in the year totalled £1.29412024.' £1,235). FIXED ASSET INVESTMENTS COIF Property Fund Units COIF Charities Investment Fund Land at Hoo Fami Totsls MARKET VALUE At 1 Apnl 2024 87,500 245,782 3,467 1,795,405 {83,652) 2,128,687 {80,185} Revaluations At 31 March 2025 87,500 249,249 1,711,753 2,048,502 NET BOOK VALUE At 31 March 2025 87,500 249,249 1,711,753 2,048,502 At 31 March 2024 87.500 245,782 1,795,405 2,128,687 The analysis of investment assets is detailed below. Cost or valuation al 31 March 2025 is represented by.. COIF Property Fund Units COIF Chanlies Investment Fund Land at Hoo Farm Totals Valuation in 2025 Valuation in 2024 Valuation in 2023 Valuation in 2022 Valuation in 2021 Valuation in 2020 Valuation in 2019 Valuation in 2018 Valuation in 2017 Valuation in 2016 Cost 3,467 113,368} 148,867} 40,010 16,055} 17,384} 3,466 3,733 14,049} 15,012 263,284 (83,652} 149,027 164,425} 135,041 267,970 142,404} 97,945 21,760 176,838 357,714 695,939 {80,185} 135,659 1113,2921 175,051 261,915 {49.788} 101,411 100,283 172,789 372,726 971,933 74,790 12,710 87,500 249,249 1,711,753 2.048,502 Historical cost.. At 31 March 2025 At 31 March 2024 Land at Hoo Farm COIF Propety Fund Units COIF Investment Fund Units 12,710 263,284 695,939 12,710 263,284 695,939 Total 971,933 971,933 The freehold land at Hoo Farm, Kidderminsler represenls a one third share in 35.19 acres al probale valuation 19 August 1970. The larsd has been valued by the trustees at 31 March 2025 at a value of £87,500. The portfolio of COIF investments is split as below, all of which are readily realisable. Page 8
ROY WOODWARD EDUCATIONAL FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 March 2025 FIXED ASSET INVESTMENTS - contlnued Capital al 31 March 2025 UK Equities Overseas Equities Property l Other assets Cash Fixed Interest 8.14 56.73 18.35 6.85 9.93 100.0 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Other debtors 1,572 950 CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Other creditors 5,401 5,226 10. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds Al 31.3.25 Al 1.4.24 Unrestrlcted funds General Fund School's Swimming Pool Fund Hardship Fund 34,196 7,500 6,000 12,032 12,500} 2,500 43,728 10,000 6,000 47,696 12,032 59,728 Endowment funds Endowment Funds- Al Cost Investment Revaluation ReseN8 971,933 1,156.754 971,933 1,076,569 180,185} 2,128,687 180,185} 2,048,502 TOTAL FUNDS 2,176,383 {68,153} 2,108,230 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gain5 and losses Movement in funds Unrestricted funds General Fund 64,323 (52,291 } 12,032 Endowment funds Investment Revaluation Reserve {80.185} (80.185} TOTAL FUNDS 64,323 (52.291 } (80,185) {68,153} Page 9
ROY WOODWARD EDUCATIONAL FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. MOVEMENT IN FUNDS- ¢ontlnued Comparativos for movamont in funds Net movement in funds Transfers between funds At 31.3.24 Al 1.4.23 Unrestrlcted funds General Fund Astro Turf Replament Fund School's Swimming Pool Fund Educational Support Fund Hardship Fund 47,078 10,000 5.000 24,500 5,618 {20,000) {18,500} 10,000 2.500 34,196 7.500 (24,500} 6,000 6,000 86,578 138.882} 47,696 Endowment fund8 Endowment Funds- Al Cost Investment Revaluation Resèrve 971,933 1,021,095 971,933 1,156,754 135.659 1,993,028 135,659 2,128,687 TOTAL FUNDS 2,079,606 96,777 2,176,383 Comparative net movement in fvnds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General Fund Astro Turf Replacement Fund Educational Support Fund 63,411 157,793} 120,000} {24,500} 5,618 (20,0001 {24,5001 63,411 1102,293} (38,882} Endowment funds Inveslmenl Revaluation Resetve 135,659 135,659 TOTAL FUNDS 63,411 1102,293} 135,659 96,777 11. RELATED PARTY DISCLOSURES There were no relal6d party transactions for the year ended 31 March 2025. 12. DESIGNATED FUNDS The Trusteès transf8r amounts lo designated funds as deemed appropriate by the Trustèes at Trust88s' me8lings. Page 10
ROY WOODWARD EDUCATIONAL FOUNDATION Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Investment income Rents received Income from listed investments Interest receivable 667 62,388 1,268 503 61,168 1,740 64,323 63,411 Total incoming resources 64,323 63,411 EXPENDITURE Charitable activities Grants to institutions Grants to individuals 32,375 8.500 86,000 6.750 40,875 92,750 Support costs Governance costs Accountancy Clerks fees and disbursements Trustee indemnity insurance Other legal fees and managing agents 3,120 6,003 1,294 2,556 4,803 1,235 949 11,416 9,543 Total resources exp8nd8d 52,291 102,293 Net Sncomellexpendlture) before galns and losses 12,032 {38,882} Reallsed recognlsed galns and losses Realised gainslllossesl on fixed asset investments {80,185} 135,659 Net (oxpendlturelllncome {68,153} 96,777 This page does not fom part of the slalutory financial slatements Page11
nable Issuer TAG Accountants Group Limited Document generated Wed. 30th Jul 2025 8'.15'.32 BST Document fingerprint 78b4f2a7a402c3f33edc29737684b154 Parties involved with this document Document processed Party + Fingerprint Wed, 30th Jul 2025 8:16..39 BST Tony Morris2 - Signer (308f2eb58d0458ec376161 c734d19115) Wed, 30th Jul 2025 17:39.'57 BST Mr Joel Douglas - Signer (Oe5148019cbd3d822da1 bdf695ade3¢0) Wed, 30th Jul 2025 17:46.'39 BST Mr Stephen Wyer - Signer {b78693bc6f8e15f4b18ec172aOa01 ede) Audit history log Date Action Wed, 30th Jul 2025 8'.15.'32 BST Envelope generated with fingerprint cf3509585a6433c41 c627c3bd8bc4cee {35.176.231.177) Wed, 30th Jul 2025 8:15..32 BST Document generated with fingerprint 78b4f2a7a402c3f33edc29737684b154. (35.176.231.177) Wed, 30th Jul 2025 8:15.'32 BST Tony Morris2 has been assigned to this envelope. (35.176.231.177) Wed, 30th Jul 2025 8:15..32 BST Mr Joel Douglas has been assigned to this envelope. (35.176.231.177) Wed, 30th Jul 2025 8:15.'32 BST Mr Stephen Wyer has been assigned to this envelope. {35.176.231.177) Wed, 30th Jul 2025 8:15.'38 BST Envelope generated Wed, 30th Jul 2025 8:15..38 BST Sent the envelope to Tony Morris2 for signing Wed, 30th Jul 2025 8:15.'39 BST Document emailed to paty email Wed, 30th Jul 2025 8:16.'218ST Tony Morris2 viewed the envelope (83.97.18.18) Wed, 30th Jul 2025 8:16.'39 BST Tony Morris2 signed the envelope (83.97.18.18) Wed, 30th Jul 2025 8:16.'39 BST Sent the envelope to Mr Joel Douglas for signing (83.97.18.18) Wed, 30th Jul 2025 8:16.'40 BST Document emailed to party email Wed, 30th Jul 2025 17:37.'59 BST Mr Joel Douglas viewed the envelope (188.29.111.16) Wed, 30th Jul 2025 17:39".57 BST Mr Joel Douglas signed the envelope {188.29.111.16) Wed, 30th Jul 2025 17:39..58 BST Sent the envelope to Mr Stephen Wyer for signing (188.29.111.16) Wed, 30th Jul 2025 17:39.'58 BST Document emailed to party email Wed, 30th Jul 2025 17:45.'55 BST Mr Stephen Wyer viewed the envelope (77.102.234.150) Wed, 30th Jul 2025 17:46..40 BST Mr Stephen Wyer signed the envelope (77.102.234.150) Wed, 30th Jul 2025 17:46.'40 BST This envelope has been signed by all parties (77.102.234.150)