DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
Registered number.. 00454793
Charity number.. 1092221
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
CONTENTS
Page
Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers
Trustees. report
Independent examlner's report
ststement of financial activitlOS
Balance sheet
10
Notes to the financial ststomgnts

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2023
Trustees
Mr P Hill, FCMA, CGMA, CPFA, Chairman
Mr M Masters Iold Royall
Mr G Greenhough, BA, M.Litl. MA
Company registered
number
00454793
Charity registered
number
1092221
Registered office
The Royal Wolverhampton School Foundation
Penn Road
Wolverhampton
West Midlands
WV3 OEG
Accountants
Cooper Parry Group Limited
Cubo Bimingham
Office 401, 3rd Floor
Two Chamber18in Square
Birmingh8m
83 3AX
Page 1

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees present their Annual Report together with the financial statements of the Company for the year
ending 31 August 2023. The Annual Report serves the purposes of both a Trustees, report and a directors.
report under company law. The Trustees confirm that the Annual Report and financial statements of the
charitable company comply with the current statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended Practice ISORPI
applicable to charities preparing their awounts In accordance with the Financial Reporting Stsndard applicable
In the UK and Republic of Ireland IFRS1021 leffective 1 January 20191.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors.
Report) Regulations 2013 has been omitted.
Reference and Administration Infomiation
The Royal Wolverhampton School Foundation IRWSFI is conslituled as a charitable company. The company
Itself is r￿IStered under Charity Number 1092221, and as a company limited by guarantee (under Company
Number 004547931 and is regulated by its Memorandum and Articles of Association dated 15 March 2002,
subsequently amended in June 2004, January 2005, August 2011 and August 2016.
Charities administered
A Charity Commission Scheme dated 16 June 2016 was created to permit the Royal Wolverhampton School
IRWSI in effect to convert to an independent Free School. The Royal School Wolverhampton I'RSW, or 'the
School'l, on 1 September 2016. AIL RWS assets and specified liabilities were transferred to the Free School
except for the Leaving Exhibition Fund which remained, as mandated by the Charity Commission.
Consequently, the Foundation continues to administer the following unincorporated charities and their obiecls..
The Royal Wolverhampton School Endowment Charity15290071
a. The advancement of education of persons of school age, in particular pupils who have, or are, attending
the School.
2. The Charles Hayward Scholarship Fund
a. The advancement of education by the award of bursaries, scholarships or other assistance to pupils at
the School.
3. The Orphan Scholarship Fund
a. The advancement of education by the award of financial assistance lo pupils al the School who are
without one or both parents or who are no longer resident with one or both parents or who are otherwise
in financial need.
4. The Leaving Exhibition Fund
a. The advancement of education by the award of grants (which may be known as Leaving Exhibitions) lo
beneficiaries to enable them to attend any pla￿ of higher or further education or an equivalent course
of study lincluding an apprenliTrshipl. 'Beneficiaries' means persons under the age of 25 years who
have been registered pupils al the School for at least two years.
Page 2

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
The funds held in the fir51 three of these charities were fully applied in the Commercial Transfer Agreement
enacted on 31 August 2016 enabling, inter alia, the Free School to become operative from 1 September 2016.
Consequentially they contain no funds. The Royal W0￿erhampton School Endowment Charity continues in the
Charity Commission register although Il currently has no funds. The other two funds are considered as
effectively closed. However, the objects of the Endowment Charity fil within the remit of the Foundation itself as
in practice 'School' refers to the Royal School Wolverhampton and it is focused on financial support for
individual pupils.
The Leaving Exhibition Fund contains those funds held on 31 August 2016, which due to low interest rates have
basically remained conslanL
Objectives and activities
Charitable Objects
The Foundation's objects, as set out In the Memorandum of Association, are the advancement of education of
persons of school age. Given that the Leaver's Exhibition Fund, required lo continue under the scheme agreed
with the Charity Commission, Is specifically aimed at supporting eligible former RWS and RSW pupils who have
left school and are under the age of 25 years, the Trustees consider the objects lo include them.
Aims
The Foundation only has The Leaving Exhibition Fund transferred on the setting up of the Free School, plus any
later donations, legacies and bequests received, less any donations made by the Foundation. These received
donations, legacies and bequests may have conditions attached to them restricting the purposes to which they
may be applied. Those may, for example, be to fund boarding at the School or to finance Infrastructure
projects.
Priority Is generally given to supporting Individual pupils whose needs cannot be financed by the School andlor
Social ServiTrs and whose funding request is made by the School Principal - typically lo urgently fund a period
of Boarding In the School. Other similar Foundations and funding bodies may be approached by the School lo
help share those costs.
The School now accommodates more than three times the number of pupils Il had when it applied to become a
Free School. 11 continues lo be heavily oversubscribed and DfE slates it continues to be the hardest-lo-get-inlo
Stale-funded school in the country. The building and renovation project al the School stsrted in 2016, was due
lo be completed in 2019, and has suffered significant delays and reconfiguralions. Despite having many
temporary classrooms, lack of Spa￿ meant boarding capacity had to be reduTrd from 100 to 80 pupils though
this will be reversed when boarding accommodation is Increased in the next 2 years. In this financial year there
were no requests to fund a period of Boarding for pupils in need in the School.
There are facilities In the School which are not funded by the DfE or the ESFA. Costs lo ensure regulatory
compliance and costs of operating these facilities must however be carried by the School. An example is the
School Chapel, which is used for Daily Assemblies by Primary and Senior School pupils and is intrinsic lo the
operation of the school and the well-being of those pupils. The Foundation may be asked lo donate lo support
such facilities. It is hoped an appeal for the renovation and enhancement of the Chapel and adjacent Lodge will
be launched in 2024.
The Foundation is registered as a charity for tax purposes. As such Il is able to claim Gift Aid on appropriate
donations meaning any donation from an eligible UK tax-payer can be increased by 25'/o al no cost to the donor.
11 is the preferred roule for donations lo benefit the School and its pupils. Donations and bequests made for a
specific purpose, such as those for a project, are ring-fenced from others - in effect like an endowment, lo be
used only for that purpose.
For example, a large bequest was made for the renovation for the fountsin in front of the Senior School in
Page 3

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
Objectives and activities {continuedl
memory of an Old Royal, Frank Nelson, and his wife Gwen. In that case the work was managed by the School
using donated funds passed on by the Foundation.
The Foundation's aims are therefore to manage these funds and make such disbursements as decided by the
Trustees of The Foundation. 11 is expected that such disbursements will be mainly for the benefit of pupils at the
Royal School Wolverhampton during their education al the School.
In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity IPB21'. Donations have been made in previous years which directly benefit the general public.
Donations, legacies and bequests are used to further the Foundations aims.
Policies and objectives
The objects of the Foundation are relatively simple and are staled above.
Policies cover key aspects of the Foundation's work. They include those related lo the recruitment, registration
and operating policies of Trustees, financial delegation, processing donations and applications for funding from
RSW. Policies are in place to cover instanTrs of perceived or real conflicts of interest.
Trustees
The Foundation is relatively small and managed by three trustees, who know the school well and who have
experience in running charities. Two of the current three trustees have been Govemors of the School and Iwo
were former pupils.
Achievements and performance
Main achievements of the Charity
Donations received
During the year income of £44,648 was received In donations and bequests. The Foundation Is very grateful for
the generosity of those who have contributed. Most are from former pupils of the School - Old Royals and Old
Rowans- many who have donated regularly.
Two subslanlial legacies were received in the year. The first was from Mrs Ward née Jean Phelps who
attended the school be￿een 1934 and 1942. She was a Foundalioner lalmosl all were orphans) and said she
was always very grateful for her lime at The Royal. A member of the Old Rowans, she joined the Old Royals
Association IORAI when the Old Rowans Association was disbanded. She last visited the School in 2018 along
with several other Old Rowans and had a tour of the buildings bringing back many memories. The Foundation
Is very grateful to Jean for her generosity. Her bequest will be applied to requests for donations from the school
lo support those pupils directly in need of financial support. Typically, this would be by helping to fund a period
as a boarder.
The second was from Sylvia Rosemary Bell. Sylvia was an Old Rowan and left RWS in 1951. She was keen
on furthering lies with the ORA and was delighted when it incorporated the Old Rowans, becoming one of the
first lo take out a full membership of the ORA. Sylvia was a stalwart member who, while she was able, still
attended Founders Days and ORA AGMS along with several of her contemporaries al RWS.
A substsntial donation was made by a former pupil, who wishes to remain anonymous, towards the
conservation of the chapel together with a further donation lo support pupils in need.
Page 4

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
Achievements and performance lcontinuedl
As Trustees of the Foundation, we wish lo record our grateful thanks to them both and will apply these funds
appropriately.
In 2019 the Foundation made a donation to help fund the renewal of the all-weather Astroturf pitch next lo the
School swimming pool complex. 11 has a covenant with the School's trading company, RWS Enterprises Ltd.,
under which a sum equal to the cumulative annual profits from RWSE, if any, will be remilled by way of donation
of profits to the Foundation. A repayment of £12,561, from 2021122 trading was made lo the Foundation in
2023.
At the end of the reporting year, the Foundation held restricted funds of £66,800 (Organ fund and Fountsin
renovation) and £78,564 of leaver's endowment funding. There was an unrestricted balance of £141,798 which
Included £52,737 earmarked for the chapel appeal (see below) and considered as committed. They total
£287,162.
Donations made
The Foundation may be conla¢led by the School to help support pupils in need who are attending the school.
These are generally vulnerable pupils whose home circumstances are such that they require a period in the
School as Boarders.
In the period under review, the Foundation was not called on by the School to make any donations. This was
mainly because the boarding capacity is currently reduced from 100 to around 80 places by the delayed building
and renovation programme, as mentioned above. Consequentially, there have been no boarding pla￿S which
required external funding.
At the lime of writing this report, il Is still anticipated the Foundation will make a significant contribution to a
Chapel preservation and enhancement project lo enable work to begin on the design, planning, gaining of
needed permissions and project management necessary lo gel the physical work started. This work would
encompass the nearby lodge, to be used for toilets and catering, as well as the chapel. The aim is to preserve
the chapel In its current role a5 a place of essentially Christian-based worship and also enable Il to be used
more flexibly for many activities by the school and local community. We envisage an appeal to other
fundraisers will be essential lo meet the cost of preserving the chapel and enhancing it so it becomes an
attractive venue for a range of activities, including weddings, some of which will bring needed revenue lo
continue its ongoing maintenance. The Foundation has eamiarked, but not committed, £52,737 to gel the work
started.
Foundation Website
The Foundation website llheroyalschool.foundationl contains much Infomialion about the Foundation, Ils aims
and objectives, what it does, Its history and current news. It explains how everyone can help make a difference
lo the lives of current and recently-left pupils at the school by donating lo the Foundation. The website is set up
lo receive donations and claim Gift Aid. Donating electronically can be by lexl, online banking, using the
website's online%iving page, and using the Schoolcomms App which is used by parents to pay for school
meals etc. 11 also facilitates payments using paper forms. It is hoped the website will be the main way for
parents, friends Old Royals, etc., to donate, and the Foundation can then claim Gift Aid on suitsble donations.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
Page 5

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
resources lo continue in operational existen￿ for the foreseeable future. For this rea50n, they continue to adopt
the going concern basis in preparing the financial slalements. Further detsils regarding the adoption of the
going concern basis can be found In the accounting policies.
Reserves policy
The Foundation does not possess large endowment reserves to generate income to assist in the financing of
the charity. The Trustees are of the view that it is appropriate to retain sufficient funds to protect The
Foundation against uninsurable risks and future uncertainties.
Structure, Governance and Management
The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this
report are collectively referred lo as the Trustees.
The Trustees are also members of the company for the purpose of company law. The Trustees who served
during the year are named on page 1.
Recruitment and Training of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co opted under the
terms of the Memorandum of Association. The Foundation has three Iruslees- the minimum as permilled by a
change in the Articles on August 2016.
The Trustees are mindful that the Board should contain members drawn from a broad range of backgrounds.
Prospective Trustees are encouraged lo visit RSVV, meet the staff and pupils and have an introduction to the
way In which the School works and how the Foundation might assist pupils and former pupils especially those
who are vulnerable and in need of support.
Trustees are elected al a Trustees meeting after a diligent recruitment process. They are interviewed by the
Chair of Trustees of the Foundation prior lo any decision by the Trustees. Trustees are appointed for a term of
5 years and for a maximum uninterrupted period of 15 years.
On appointment Trustees are given the opportunity to participate in an induction course. Existing Trustees are
encouraged to attend training courses on an ad hoc or on demand basi5. Trustees may also receive
presentations in advance of Trustee meetings about aspects of the School's or Foundation's activities or topics
of importance that may impact on the Foundation's decisions. Trustees may be given specific training in areas
such as child protection and lo maintain awareness of developments in the education and charitable sectors.
Plans for future periods
The charitable company will continue lo operate in accordan￿ with the aims of The Foundation as sel out
above.
Page 6

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2023
ststement of Trustees. responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company lawl 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).
Company law requires the Trustees to prepare financial stslemenls for each financial year. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the slate of affairs of the Charity and of Ils incoming resources and application of resources, including Its
income and expenditure, for that period. In preparing these financial stslemenls, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any
material departures disclosed and explained in the financial statements,
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 al any lime the financial position of the Charity
and enable them to ensure that the financial statements comply with the Companies Act 2006. 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 order of the members of the board of Trustees and signed on their behalf by..
DocuS*Mdty.
42681B819A42435_.
Mr P Hill
Chair of Trustees
Dale. 09 May 2024
Page 7

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
Independent Examlner's Report to the Trustees of The Royal Wolverhampton School
Foundatlon {'the Charlty'l
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August
2023.
Responsibilltles and Basls of Report
As the Trustees of the Charity {and ils directors for the purposes of company lawl you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l.
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006
Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts
carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carying out my examination I have
followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act.
Independent Examlner's Statement
I have completed my examination. I confirm that no matters have come to my attents'on in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or
the accounts do not accord with those records", or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practi￿ for accounting and reporting by charities applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021.
I have no concems and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required lo stste to them in an Independent examinerfs report and for no other
purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Glen Bott FCA
Dated.. 16 May 2024
Cooper Parry Group Llmlted
Cubo Birmingham
Office 401, 3rd Floor
Two Chamberlain Square
Birmingham
B3 3AX
Page 8

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2023
Unrestricted
funds
2023
Restricted Endowment
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Income and
endowments from:
Donations and
legacies
Total income and
endowments
44.648
55,211
44.648
55,211
Expendlture on:
Charit8ble activities
3,507
3,507
7,156
Total expenditure
3.507
3.507
7,156
Net movement in
funds
41,141
41,141
48,055
Reconclllatlon of
funds:
Total funds brought
forward
100,657
66,800
78,564
246,021
197,966
Net movement in
funds
Total funds carried
forward
41.141
41.141
48,055
141.798
66.800
78.564
287.162
246,021
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 17 form part of these financial statements.
Page 9

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
REGISTERED NUMBER: 00454793
BALANCE SHEET
AS AT 31 AUGUST 2023
2023
2022
Note
Current assets
Debtors
Cash al bank and in hand
8.716
281.086
36,136
212,585
289.802
248,721
Creditors.. amounts falling due within one
year
{2.6401
12,7001
Net current assets
287,162
246,021
Total not assets
287,162
246,021
Charity funds
Endowment funds
Reslricled funds
Unrestricted funds
10
10
10
78.564
66.800
141,798
78,564
66,800
100,657
Total funds
287,162
246,021
The Charity was entided lo exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year In question in accordance with
section 476 of Companies Act 2DO6.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject lo
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
ty00u8￿n•dty.
426ts7È81$A42￿..
Mr P Hill
Chair of Trustees
Dale: 09 May 2024
The notes on pages 11 to 17 form part of these financial statements.
Page 10

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
General Informatlon
The Royal Wolverhampton School Foundation is a private company limited by guarantee Iregislered
number 004547931, which is incorporated and registered in England and Wales. Its charity registration
number is 1092221. The registered office and principal place of business is Penn Road, Wolverhampton,
West Midlands, WV3 OEG.
It's principal activity is to support the provision of education at The Royal School Wolverhampton.
The members of the company are the Trustees named on page 1. In the event of the company being
wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Accountlng pollcles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Royal Wolverhampton School Foundation meets the definition of a public benefit entity under
FRS 102. Assets and liabilities are Inilialty recognised al historical cost or transaction value unless
otherwise slated in the relevant accounting policy.
2.2 Going concern
After making appropriate enquiries, the Iruslees have a reasonable expectation that the company
has adequate reSoUr￿S lo continue in existence for the foreseeable future. For this reason they
continue lo adopt the going con￿rn basis In preparing the financial slalements.
2.3 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Restricted fvjnds are funds which are lo be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund Is set out in the notes lo the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally
The Leaving Exhibition Fund.
Page11

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accountlng pollcles Icontlnuedl
2.4 Income
All income is recognised once the Charity has entillemenl lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
re￿Ipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement lo a legacy exists when the Charity has suffi'cient evidence that a gift has been left lo
them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that il will be received and the fair value
of the amount re￿1Vable, which will generally be the expected cash amount lo be distributed to the
Charity, can be reliably measured.
Donations received for the general purpose of the Foundation are credited to unrestricted funds,
where the donor or appeal has imposed trust law restrictions, voluntsry income is credited lo the
relevant restricted fund and incoming endowments are accounted for as permanent trust capital or
expendable trust capital, according to whether the donor intends retention is to be permanent or not.
Gifts in kind are valued al estimated open market value at the date of the gift, in the case of assets
for retention or consumption, or al the value lo the Foundation in the case of donated services or
facilities.
2.5 Expendlture
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefi'ts will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Flnanclal Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments.
2.7 Debtors & Credltors
Short temi debtors are measured al transaction price, less any impairment.
Short temi creditors are measured al transaction price.
Page 12

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Income from donatlons and legacles
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
Leg8cies
28,584
16,064
28,584
16,064
2,341
52,870
Total 2023
44,648
44,648
55,211
Total 2022
55,211
55,211
Anatysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2023
Total
2023
Total
2022
Support costs and governance
3,507
3,507
7,156
Total 2022
7,156
7,156
Support costs include administration costs, bank charges, legal fees and governance costs relating to the
independent examiners fees.
Independent oxaminer's remuneration
2023
2022
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
2,640
2,400
Employees
The average number of employees during the year was Nil12022' Nill.
Page 13

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits12022.' £Nill.
During the year ended 31 August 2023, no Trustee expenses have been incurred12022'. £Nill.
Debtors
2023
2022
Due within one year
The Royal School, Wolverhampton
Prepayments and accrued income
8,716
7,136
29,000
8,716
36,136
Creditors: Amounts falling due within one year
2023
2022
Accruals
2,640
2,700
Page 14

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
10. Statement of funds
Statement of funds - current year
Balance at 1
September
2022
Balance at
31 August
2023
Income Expendlture
Unrestricted funds
Foundation General Funds
100,657
44,648
{3.5071
141,798
Endowment funds
The Leaving Exhibition Fund
78.564
78.564
Restrlcted funds
Organ Fund
Fountain Fund
6.700
60.100
6.700
60.100
66,800
66,800
Totsl offunds
246,021
44,648
13,5071
287,162
Page 15

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
10. Statement of funds (contlnuedl
Statement of funds - prlor year
Balance at
Balance at
31 August
2022
September
2021
Income Expendlture
Unrestricted funds
Foundation General Funds
52,602
55,211
17,1561
100,657
Endowment funds
The Leaving Exhibition Fund
78,564
78,564
Restrlcted funds
Organ Fund
Fountain Fund
6,700
60,100
6,700
60,100
66,800
66,800
Totsl offunds
197,966
55,211
17,1561
246,021
The Leaving Exhibition Fund represents the permanent endowment Capital of a fund to be applied for
the advancement of education by the award of grants Iwhich may be known as Leaving Exhibitions) to
beneficiaries to enable them to attend any place of higher or ftjrther education or an equivalent course of
study (including an apprenliTrshipl.
For the purposes of the Scheme "Beneficiaries" means persons under the age of 25 years who have
been registered pupils al the School for at least years and School" means The Royal
Wolverhampton School and upon its closure the Royal School, W0￿erhaMptOn.
The Organ Fund was created by a legacy intended to cover the renovation and upkeep of the organs of
The Royal School, Wolverhampton.
The Fountsin Fund was created by a donation intended lo cover the restoration of the Fountain of The
Royal School, Wolverhampton. Any unapplied funds on completion of the project may be applied to
further the purposes of the Charity at the Trustees, discretion.
Page 16

DoGuSign Envelope ID". OB2D9223-EF4B42C7.B3DA4CC8DD408778
THE ROYAL WOLVERHAMPTON SCHOOL FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
11. Analysls of net assets between funds
Analysls of net assets between funds - current year
Unrestrlcted Restrlcted Endowment
funds
funds
funds
2023
2023
2023
Total
funds
2023
Current assets
Creditors due within one year
144,438
12,6401
66,800
78,564
289.802
{2,6401
141,798
66,800
78,564
287.162
Analysis of net assets between funds - prior year
Unrestricted Restricted Endowment
funds
funds
funds
2022
2022
2022
Total
funds
2022
Current assets
103,357
12,7001
66,800
78,564
248,721
12,7001
Creditors due within one year
100,657
66.800
78,564
246,021
12. Related party transactions
During the year £12,56112022'. £Nill was received from The Royal Wolverhampton School Enterprises of
which one of the trustees is also a director of. At the year end £nil12022'. £nill} was owed from The Royal
Wolverhampton School Enterprises.
The Royal School Wolverhampton is a related party due to the fact that one of the trustees is a member
of the Royal School Wolverhampton. The Foundation incorrectly received and paid across boarders. fees
of £nil12022.' £4,340). In addition il was incorrectly charyed and has been reimbursed for, bank charges
of £nil12022.' £1,280) on behalf of The Royal School Wolverhampton. The Royal School Wolverhampton
paid Independent Examiner's fees of £2,40012022.' £2,500). Al the year end, The Royal Wolverhampton
School Foundation was owed by The Royal School Wolverhampton £8,71612022'. £7,136).
Page 17