Coiw)any rvgistration nui]kner: 04475523
Charity registration nuiitrr: 1096487
The West Buckland School Foundation
IA LOIIViliiy liJi]iied by gwanieel
Annual Rep)rt and Fiimllcial StareI1￿ll
for the year ejlded 31 July 2021
WEST BUCKLAND SCHOOL
FOUNDATION

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
CONTENTS
ReterenLe Athilinistrative tktails
Trustees, Rewrt
2to7
Ststei]rnt of Trustees. Re%yin%ibilities
I11d￿ndent Exdn]iner's RvtK)rt
Stsiei]rnt of Financul ALtivilivs
BdlanLe Sheet
Iotoll
Noies to the Financial Statell￿n(s
12to29

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
REFERENCE AND ADNItNISTIL4TITrT DETAILS
Chariti" Regi5tralion Number 1096487
Compan!" Regi51ralion Number IM4755?3
The LhaTiry is illLnrp()raied lli Engla￿1 and Wales.
Wesi BULKI￿ld
We51 Buckl￿)d
BARNSTAPLE
Iki'un
EX3? OSX
Registered orfiee
Accountants
Gloi'vr Siaiibury Chartered ALLoulltants
30 Bear Street
BARNSTAPLE
EX3? 7DD
Solicito
Wollei]s
Avery. House
Lit￿n) Rwd
Ruuiids'H'ell Business Park
BARNSTAPLE
tkvon
EX313TL
Bank'ers
Virgin Mi)ne5'
40 Si VinLeiii PlaLe
GLASGOW
GI 2HL
Page I

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
Tlie trustevs, wlio are direciors t'or Ilie purp()%e% ot L()tnp4lliJ' law. pre%enl Ilie ailliual rvp()rt l()gether
witli the tllfdncial staleiilents tor Ihe Llwitable Li)iiydn) tor ilie elided 31 Julj 2021.
Trustees and officers
The trustevs Jnd oftiLers serving during the and since the end MTere as follows:
Trustees:
Mrs L Wakefield (Chair
MrWHGeen
The Counle55 of Arrdn MBE DL
Mr M Wi¥hth¥m
Dr T Bigge
Mr M J Hallnatord
Mr H OrLlwd-Li51e
Mr S Sn)ith
Mrs B Ddly
Mrs A D Webb
Mr K R Unde￿v￿XI
Mr J E CIM)￿[ laPtx)inled l J￿UarY ?0211
Mr D J SedgwiLk Idpwinled l Augu%1 ?0211
Statement of Trustees RestK>n5ibilities
Tlie Irustevs (wh() are also the direLiors ot Tlie West BuLkId￿J k.li(K)l Founddtioii for the purp(i%es
of Liiiiwdnj l<il4'1 are restK)n%ible tur preparing the tru5tees' ￿MUdI rvp(irt dnd ihe fiiiaiiLMI
ytdteii￿I]lS in dLLurdaiiLe H'ith the United KingTdi)ni ALL1)until￿ Sunddrds Iuiiited KiiigTd()m
Generiilly ALLepted ALLiiuntin¥ PrdLliLei and dppIiLdble laii, and regulÉi1i()￿$.
CiTrnwiiny law requires the truslees to prep4ll¥ staten*iits for eaLh fil1￿c￿l ￿ear. Uiider
LIIIIIPdJlJ' Idll. the truslees inu5t not appri)ve the tiiunLial stdtel1￿I]ts unless they are Sdiisfied ihal
Iliey gFive a true tdir Vi¥￿. ot ihe State ot Jtiaipi Ot Ihe Lluritable L()IllP<iny dnd ot its. IllLOlllltLg'
Te50ufLes dnd iippIiLaiiiin of TesourLe& inLluding lis ulLuI1￿ and expenditure. for ihdl ￿rI{KI. Iii
preparlng these fu￿nCIal staten￿￿K the trustees are required t(Y.
seleLt suitable acL()untin¥ p()liLiv% and dppl )' thvni L(?IL%i%tenily'
L)bs'erve the i]rtliuds pr]nLipl￿ in the Clurilies SORP;
INke judgenrnis estuiutes that are re￿nable prud¢llt'
sl&ite wheiher appliL<ible LTK ALL(iuntin¥T Siaiidards. hdve been t(Illi)wed. subjvLI Io iiuleridl
departure% disLlused aiid expldined iii Ihe t-llunLial statenriits. and
prep<ire Ihe t-￿IllIa1 Slalei￿nIS on Ihe going coiicern bdsis Lbnless it is ￿ppr()pT1ate to pre%uii
thdi tIIv Lliarildble c()[np￿). H'ill Lunlinue in business.
Page 2

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
Tlie trustevs are Tesp()n%ible tor keeping adequdle dLLiTrUnIll￿ recor(ts IlLlI are sutticieni to slioM'. aiid
explain tlie chariiable LI)[np￿S s Tr￿15ac110lls aiid disclose ii'.iili re&sonable dLLufdLS' ai ÉUIS, iiiiie ilie
t￿a1]ll￿1 p(Trsilii)n ot the Lluritsble LI)nip￿75. and eiidble Iheiii lo eILSUTe Ilidt tlie t-￿Illia1 ststeIi]eiitS
Lllii]ply' H'iih the Ci)iiwanie% ALt ?(M)6. The). also re%[MI￿SIble for S£lfvgTU4￿d1li￿ ihe dSSets ot ihe
Ch￿1Vable LIIIIIPdnJ' Jnd henLY tor L￿l￿g re￿nable steps tor the preventi(￿ deteLtIOn Df fraud
diid otlier i￿¥¥uL￿1[1e$.
Structure, governance and management
Nalure olgoverniNg docuinenl
Tlie Wesr BuLkI￿ld SL'liwl Founddtion is a L(lnIp￿1￿. liiillied b), ¥UdT4llilee and it is gTI)I'erned by its.
Meiiiurdiiduni AlliLles (Ft AsSLKUtion. The L()li]Pdny was inLI)rtX)Tdted 2 Jllly 2(K12 and
Tegi%tervd as a Lhdrilj. troni 12 MdfLh ?(K)3.
Organisaftonal 51Tucfure
Tlie We4r BuCkI￿)d k11￿)1 Foundatio￿ the Fnundation. v.as set up tor Ihe benetit ot tlie Wesr
BuLkI￿ld SL'liuol I Ilie SL'h(M)I I, d LhdTilJ" Ihdl pri)I'ide% eduLdlion tor pupil% dgTed 3 to 18. Tl)e ￿,￿rk
ot tliv Fuunddlion IS Ldrried out by d tull tlI]￿ Fuunddtion & Aluiimi DireLtor. dSSiSted by £1
Founddtion & AiuIi]ni OffiLer dnd a Pdrt-lin* FiiwLe O￿ller.
The iwrd of trustvvs. who nEet qudrterly. are re%[X)￿¥1b1e for ultinule strategiL decisions haviiig
LU o) J TegTiird to ddi'iLe troni the Fuunddlion & Alu11￿7 DireLtor and uilier adi'isors. Tliere 15 DO stdtut()ry
> z u Tequiren*nt to hold an dmiudl gvnerdl nEeting. Ivhere I'aLdiiLie5 dfi5e the trustees will Éipixiinl
O <( < Tepl<iLen*nt trustevs truni w'iiliin Ihe w'ider k.liwl Li)IiiniuviiiJ" UT 11,ho have speLifiL skills diid
experleilce that it Is telt would be usefvl on the B￿d. Tru51ees Ii'ill. unless ihey reslgii or are
Teiiiuved bj. a vote ot the other direLiors serve tor a terni ot 3 A trustee slull not serve for
iik)re ihdii 3 LonbeLuiive ￿[1]15 uDles5 it is otherw'ise dgTLYd b), the uiher direLtors.
Major risks and Munagemeni of those risks
The Irustevs have tr￿ed the principal tUllLtion of the Foundation Loiisider thai ihe w)59ible
risks tu wlllch die Fouiidaiion is ex￿￿￿ed are n]illili]ised subjvLI i)nly to noriilll invesiiiEiit risk.
Tliese risks are to be reviewed 4illnudily.
Objectives and actiiities
Objects and aims
Tlie i)bjeLts ot Ihe Fi)UVKldtii)n. as Set uut in the Meinoranduni and ArtlLles of A%s(KiÉilioii. are to
pri)iiiiite tliv Lharitrable purp()%e% ot tlie Wv5t BuLkldiid k.liwl. Bdrn%uple. tkvoii dnd L)Ilierwise to
pri)iiiote any other charitsble puttx)¢t LonlleLled wilh or 01henvi￿ asS￿￿led with ihe SLbwl.
Page 3

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
Objective5, 51n1te￿eS and activities
Duringy the year. the Founddtion office was staffed by the Foundation & Alui]mi DireLtor diid ibe
Foundation & Aluii]ni Otiicer. The Foulldaiioih otlice conilliued 10 Irdve Ilie services ot Ilie Scliool's
Fli)￿iCe Assist￿1[ tor dppr()xiiiutels' one da). a ￿'eek ivlio ii.'orked oil accouiits tor botli ilie
Fouiiddtioii diid Ilie Old West BuLkI￿d A551Kution IOV¥ BA i. Tlie Fuuiidatioii aiid Aluiillii Director
Tepiirtvd to Ihe Chair of Tru51ees dnd the Prv5idviit of the OWBA and I]￿t weekly witli il)e SLliool's
DireLlur ot FiiidnLe aiid 0￿1￿[1{)￿% ti)tllliyiil)' u.iih the k.liwl's Heathiuster. Tl)e Fouiiddtioii
ottice inet Te¥ularlJ NN'ith the M¢wketiiig alld Athi]issiolls' depdrni*nL% alld worked Lli)sel)' willi ilie
ArLliivist.
Wesl BuLkI￿ld SL'IiLK)l Founddliun iuntuiues to Lwrd1￿le fundrdiNiiig lliilidll￿es oil [￿lIa]f of ihe
SL'I)uol. Tliese tuiids e￿ble ihe k.liwl to ini'e5t in sei.eral pic)ieLts. Ull j.e¢￿. wIiiLli ei]liaiiLe
diid enriLh the eduLdlio￿l experlence tur our students. During ?020121 there was iio iiiajor LÉlPltal
fundraising caiiu)aigm.
Soi]r of the s￿lI￿r pri)jeci% tunded troni dO￿tiONS include new video equipn*iii for tlie Drai
Dvpartiirnt. a p()rtiible kv)'b(UTd tur the MusiL Ikpami*iif. an el¥LtriL kit car for Iksign dnd
TeLlini)l()g)'. new Snurt Tvs tur the tmwding houses and a tivld shelier for outdLN)r leaniiiig
dLlii'ilies.
Fi)Illi￿,]ng7 Oil troiii Ilie previous s'edr. Ilhe Fouiidaiioih [￿￿]￿1￿7ed Ilie West Bucklaiid School Covid-19
> z u EiiieTgevLJ' Fuiid. The Fund Wds Set up to ￿51st P<irenls ot WBS pupil% M'lio had t￿ell iiu)s1 %ei'ei'ely
O <( < dfteLted by Ihe Lrisis. Iii the ?O?O/?O?I t-llunLial )'WdT. the MTesi BuLk]aThJ SL'liool Covid-19
El1]eTge￿Y Fund Pdid out £87.1ffl towards. sLhwl tees. supp1)rtil￿ 42 pupils.
The Founddliun's Bur￿ Fund of £2Jiii Lonlillues to pmvide inco11￿ to help %upp()rt ihe
Founddtion's Bur%dry' Pr()gT<ill1ii￿ dnd in the last touneen pupil% thr(IUgTh()ui il)e SLli()ol
TeLeii'ed IOOIA burwies NUPtM)rted ji)indJ' b). the Founddlion dnd ilie SL'liool. These
Irdnsforiiuiio￿I bursdries are tor entry. into ye￿ 7 uiitil the eiid of ilie Sixtli Forin. The
deteriiui)dliuii ot Bur￿£￿￿. studenis to ￿hleve their tM)lentidl li) ever), wa). the), L4111. dnd take
advdntsgie of every. tspp)rtuniiS' Ihes. tiiid. p)Nilii'.el)' in)pacL4 on eN'¢ry' pari ot our SLIILKII
Liiiillnuiiily. £36,53i lus been priii'ided iii ?O?01?O?l II) tiirdiicial .%upp()rt troiii Ilie Fouiidatioii to
eirdble Iliese Bur%£4TS swdeiiis to a￿e1)d Ihe Scli(N)l. To help Ilie Scli(K)I during Ilie P<indeniiL. scliLNIl
tees ti)r tlie Fuunddlioii's burs<1ry' swdents ￿'ere Pdid in ad1'd￿e and the Founddtioii sup￿)rted ihe
SL'huol with the exird Losls of Cuvid.
Over £2in hds t￿ell pledged tu the Founddtion In legaLie%.
A kvy Pilrt of the Founddtion's w'ork is to NUPtx)rt the Old West BuLkId￿J A55￿]dtI￿n IOWBAI and
its aLlii'ities. inclLLdingi reunions publicati()tLk Togiethei IlTe LoiilliiuiiiLate the &spiiatii)n8 L)f ihe
LliiNIl ti) 3luiiini, p￿entI, tnni]er pdrenl% aiid nilier n*iiihers (Trt Ilie We%[ Buckl3iid L()IilliiunitS 211d
urgTdIiise evviils to iiivoli'e ei'erJ'i)ne iii the lite ot Wesi BuLklatbJ ￿.11(￿)1. Uiit()miiiÉilelJ. Iiuiiy
OWBA evvnts hdd tu be LdnLelled ur p(liltx)ned due to Covid rvsifiLtions. howeN'er ihe OWBA
TedLhvd out and LotnnwniLdled TegUl¢￿1Y with aluiimi Ibe ￿'Ider sLII(MA L(Iiiunuiiity.
At tlie AGM in July 2021. LULY Wakefield Chair of Trustees dnd Hug() OrLhard-Lisle
beLdlif VLLe Chair. MiLhael Doth￿￿.￿rd reiired as a Trustee and Ddvid SvdgwiLk was dPPI)iV)ted as
a Trustee. Jereijiy C{K)￿r has I￿ell on a ￿bba1]L￿1.
PdgTe 4

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
Public beneJ
The Fuundalion provides on-going supwrt tur the sLIiiM)l tht()ugh burwies whiLh brwdeii access
aiid tiiriliers tbe puryxisv% ot tlie LhaTilJ' tor Ilie wider publiL benetii. Tbe Foundaiioii also raises
Iii)nvJ' tor Cdpitsl pr(yjects ￿]d general sch￿] equipnrni. These also ￿llet1[ Ihe wider Li)inniunity
as exter￿1 gTilUP% access the tdLililies ot Wvst BuLkI￿d SLknwl.
Tlie trustVVS Lonfirn] thdt the). hdve c()n]plied with the requiren￿￿Ls of 5VLtion 4 of ihe Chdrities ALI
?011 to due r¥gaTd to the publiL l￿Defit guiddnce publi%hed by ihe Cluriry Coi]lli]ission for
Eli¥1￿]d ￿]d W'dles.
Achiei'ements alld perforn￿nce
Tlie results tor die J'e<ir ￿]d the clwil) S t-llLincial tK)%ili()n at Ihe eiid ot Ihe year are sliowii iii tlie
dttaLlied tllldllLuI blatell￿nIs.
Despite tlie IdLk of a iiujor fiJndrdL%illgT CdliwaiL￿l. and the need fur d Covid-19 Eli￿rgve1]LS'. Fuiid,
tujids ot £83,435 Luiitinued to coll￿ iii troIii reg7u1￿ gii.'er& th ddditioii. tliere There legTdLies
InMiuntingT to £123,612.
C( Z As at 31 Julj. ?021 the Fuunddlion Bursary Funds. under illvesti]rnt rnÉli]dgvntni were Vdlued <lt
LU o) J £2.3￿.](￿. Other ￿￿e15 i inLludingi nx)nes' r1ng-fe￿ed fur capit21 projvLtS dnd bur4driesl lotslled
> z u £154,300. Ikspile Covid-19. all tuiids are perti)niiing ii'ell. aiid Ilie Trustees are hdppy willi ilie
O <( < tlliaiiLuI p(TrNilii)n ot the Fouihdaiioii and its dbilii) to sUPtx)rt Ilhe k"li(M)l.
Ini.-esiiI￿il1 mli￿￿e[s Siiiiih & Willmiibon Loiiiiiiue lo re%tMTrtKI tM)%itikvlJ' to the Trusiees. reque%1 to
preserve L<ipitsI w'hile pri)i'idingT iIILO1I￿ tor bur5dfitri and Ilieir pert()rnunLe is N'iewed d5 g7(x￿ by
tliv Truslees. The pert(Trrn￿e ot tlie bur%41ry' ￿1]d is L()n%i%teiitlJ' iiwniiured. and ilie liii'estii*iii
MdniigTer% Tewrt tu the Board at least tw'iLe a j.el￿. Should deL'isions need to be tskeii out of
1110se li￿11￿￿7%, this is Larried out by the nuil￿ted Trusiees for eaLh aLLnuiif. PTesided over by ibe
Cluiriiuii.
Well BuLkI￿d k.liwl Luntribuled £79.?72 tow￿dS. staff and adIi]iiiiNtrdtioii Lusts. inLurred b), Ihe
Fouiidaiioii. As iii preN'ii)us )'edrK not all work undertdken b). the FoundJtiuii cali be dir¢Ldy
attributable to tundTaisingT as Fouihdaiioih statt coiiiiihued io NUPtM)rt Wvsl Buckl￿￿ School iii Iiuiiy
areas, iii PiITtILuli￿ N'ith Ilie BurNdry' Pr()¥rdviin*. Ihe En*rgenL)' Fuiid aiid Ilie Old Wesl Bucklalld
As'suLMtion IOWBAI. This is esiinuted to be appri)XiillÉltel)' 40% ot dll work.
The Founddliun Lontinues to ()￿rdle in Éi diffiLult eLODVIMiL Lliiiute but will strive to lllLredse its.
bur%dry.' tuiid by increaslng rebTu14￿ dunJiion& eiicouraging onv-oft doiidtions dnd ￿",(￿rkIng Iuwdrds
eiicouragTriiig legaLJ' plvdge%. The ddtsbase is eiubliJ]g the Fuundaiiun to LoiilliwiiiLdte iiK)re
efteLliN'vly' w'itli as w'ide a LIIIL%tituetLJ' as tM)%%ible.
Tlie Peniuneni Ei]du￿.1]￿li1 FuIid 1st MiLhael's aiid ,41dn Cait). Fulldl is invested on a total
returii basis ￿]d details ot this Lan ￿ toulld ai Ihe elld ot ttoie L6.
Page 5

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
Poliey oil reserves
Reserves are tu be held at a su￿ILl¥￿t level wheieby funds" can be doiuled to ilie Wesl BuLklatKI
SLliool tu help Th'ith Ldpildl pr()jeLl% bursaries. Surplus tuiids ot Ilie Fouiidaiioii are iiivesied
llSlI)g liii'esliiienr Fund MdnÉigTeN 1io￿-.eVer. sutticieihi cash reseTh.'es are neLes%drils' 11]ainoiiied to
P£i)' Founddliuii burs<1ry' pupil%' tees edLh sLbiM)I teriii. The￿ are P<iid troiii BuTSdr)' Fulld divideiids
iii ddditioii to de%1¥ndled dO￿tIons.
Tlie incon)e and pr()penS' Ot the charily shall ￿ applied si)lely iowards Ihe pmin()ti()n ot ilie Ob￿C[S
aiid iio Part shall be paid or I[￿￿terred. direLilJ" or indireLilJ". bj, waj. ot dii'ideiid, tMliiUS or
utlierwise by way (Ft pri)tit. to ineiithrs ot the Chariry.
EaLli regi%tvred 5hdreholder of the charity undvrtdkes lo Luiitribule ￿nounts. Ibui not exLeediiig £10)
luwdrds the bettle11￿￿t of the ch￿7[) s debis lubiliiies if it Is ￿..Ou￿j up. If there are futlds
reiiuiiiiiig dfter bettlenlent of all debts atKI lubiliiivs. this will be trat]sferred to dnoiher Lluri(y
hdi'ing biiilllar i)bjeLt
li1vest￿en1poIicY aiid objectives
Tlie trustvvs are pertnitted tu ini'e5t IiK)iiies not I￿￿￿dIale1), required for its. purp(i%e% iii or
UP()11 SULh inve%in*nt. seLuril)' or pl()￿rts. of 2n5. nature and ii) ￿1￿. part of the world diid wliether
jiiiw()Iving' liabiliiies or pr(KIuLing' iIicoii* or not as Ihe Lhdrii). slrdll ii) lis discreiioii Illli￿ til to ilie
LU o) J extent Ilui tlie Ll]driry shall have tlie SaI1￿ tMiiiier% in all re%￿lL$ as it 11 IlTere Ilie absolute owner aiid
> z u benetlLidlly entitled.
(J (n ￿ Financial instruments
Objectives aiidpolicies
The LhdTily'S dLlivities eX￿1)e it to a nui]trr of risks- inLluding Lredil ri%k, c￿h flow risk
diid liquidilj. TiSk. The use ot t-￿￿Lia1 derii'aiii'es is gI)Ver￿ b). the LlidritJ"'s p)IiLie% Éippr(Iked by
tliv iK)ard ot Iruslees, w'hiLh pri)i.'iik wrillen prinLiple% OI) Ilie use ot flluiILial derivatii'es to Ii]iiiliige
Iliebe Tisks. The LI￿rit). d￿5 not use derii'dlive t11￿la1 insiruIl￿nts fur speLul31ive puqxTr%e8.
CashfloH' risk
Tlie LhdTltJ s inVes1n￿￿t JLtiiJilivs ￿Y eX￿1)e il to the t-ll]anciai risks. ot Lhaiiges in ti)reign
LufTenLy exLhdngTe Tatvs and interest rate
Credil risk
Tlie LhÉirily s prinLipal fu￿nCIal ￿Sets are ballk bal￿ L<i%h. trade oiher rvLeivdbles. dnd
iiivestii￿ll1s.
Tlie Lredil ribk on liquid funds. derii'dtive fiiunLial inslruI]￿lIts is liinited ￿'auSe ibe
Ll)unterpffiie% are ballks Th'iih high Lredit-Tdiin&% dsNigDed b). inierllaiional Lredit-raiin¥ agencies.
Tlie LhÉirilJ' hds nu Signiticant LOnLentrdtion ot Lredit risk, with eX￿)￿u[e %PTead over a large
iiuiilber ot Ll)unlerpdrtie%.
Page 6

THE IVEsf BUCKL.4ND scH￿L FOLtNDATION
TRusfEES' REPORT
LIqu￿lty risk
lil urder to i]uintain liquidity. to ensure that sutfiLieDt funds- are avdiidble for ongoillg iip¢ratii)n8 and
tuture dvve1l)pn￿n1￿, tlie LILwil)' uses a iiiixture ot li)ng-terni aiid short-ienii debi tiifdiice. Furilier
details re¥ardin¥ Iiquidiry risk can be tound in Ihe ALLI)unling Policies iii Ihe t-lllaiicial stateiiiellts.
Small comtwiies provision statement
Tliis rep()rt hds been prepared In ￿l￿rdance wilh the sn]all coiiwanles reg111￿ ullder ihe Cniry)iinies
ALI ?006.
Tlie rewrt was iwpr()ved by the trus1ees of the Lharit), on ?2 April 2022 dnd %igned on its.
behdlt bj:
Mrs L Waketield (Chairl
Trustee
Page 7

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
INDEPENDENT EL4I¥IINER'S REPORT TO THE TRIISTEES OF THE M:EST
BUCKLAND SCHOOL FOUNDATION {'THE COIIIPANY")
I TetM)rt to Ilie Lhdritj. t￿SleeS on ni). exaii]inaiioll ot Ihe accouiits ot Ihe Ci)nwdliy tor the year
elided 31 JLLI) ?O?l.
RespKbllsibililies and of rep)rt
As tlie LhaTiry's trustees ot Ihe Ci)IllPdny la￿] also its direciors tor Ilie purtK)%es ot Ll)IllPÉiny lawl
yl)U &ire Te%tM)n%ible tor the prep￿all1)ll Ot the ￿lOunt5 in &LurddiiLe with ihe requiren*nt% Dt. Ibe
CiTrnwanie% ALt 2(m)61't￿ 2(K)6 ALt').
Having ￿tIStI¥d lliyself thdt the aLLOUDts of The West BuLklaiid ￿.1]￿1 Founddtion are not Tequired
to be dudiled uiider Parr 16 ot the ?(M)6 ALt and are eligible fur inde￿ndent ￿￿]11￿all1)i1. I rvp()rT iii
TespeLt ot in!.. exdiiii￿tlull ot j'iiur Lli<tTiI! s aLLounts as Ldrried out uiider selli￿] 145 ot ihe
Clurilies ALI ?oii I'ihe ?011 ALI.). In carri-iilg out nij. e.￿li]Inall01) I follo￿,ed il)e DireLliuns
given by the ChaTltJ CuiThi]ission under 5VLiion 14515Mbi of the ?01 I ALL
In(k￿ndent examiner's statement
SlllLe The West BuLkI￿d k.liwl Founddtion's gri)%5 ll)coiI]e exceeded £250.(KM) yi)UT exaiilliier
iiiu%t be a liri1￿r of a tKKts.' listed in seLtion 145 ot the ?011 ALt. l Loiifinii Ilidl l aiii qudlified to
uiidertdke Ihe exaiiii￿1Iull beL'Ju* I ￿17 a i1￿11￿r of Ilie Insiiiule ot Chartered ALLouiitanis lll
EiigTlillid Wdles IICAEWI. whiLh is one of the listed tKNJies.
I hdvv L()n)plered my exall￿tion. l LoiifiTni that no ￿tter5 hdve Con￿ to iiiy dttentioii iii
LU o) J LOlllieLtiuii w'illi the exaiillnation gii-.ing Ii)e cause to believe:
l. acci)Ulllingi reLords' Th'ere nut kept iii res￿[ of The Wesl BuLkldiid ￿.11(￿)1 Foundation as
required b5 beLtion 386 ot Ihe ?(M)6 ALI. or
2. the dLLounls du not dLLord with those reLord&' UT
3. the dLLounls du nut ci)tnpl)' with the aLL()unting require1]￿nL$ of 5VLtion 396 of ihe 2006 ALI
L)ther than TeqU1ren￿￿t that the aLLounts give a 'irue ￿]d fair vie￿... whiLh is not a Iiuller
Lonsidervd as part (Ff an inde￿ndent exdmindri()n' or
4. ttie dLLuunls lui'e not been prep<ired iii aLcord￿￿e I￿1111 Ilie ii*ihoMts aiid prinLiple% ot ilie
Staieiiieiii ot Recoillll￿IIded Praciice t'or dLLiTruJilllig aiid rvtK)rtiiig b). clharities lÉippIiLÉible to
Llidrities prepdriiig, their aLLuunts in aLcord￿￿.e with ilie FlluiILial RvtM)rting Stdnddrd
iypIiLdble in the UK RepubliL of Ire1d￿j IFRS 10211.
I ILqve no coihcerns and have Con￿ across no oiher i1]a￿erS in CO￿]eCTIo11 widi Ihe exaiiiiilatioii to
wliicli atteiitlon sliould be drawn in this retx)rt it) order to enable a pr(Iper undvr4ldiidlll¥ Ot ilie
dLLounls tu be TeJLhed.
K Tonts BSL FCA
Ilisti￿te of Chartered ALLounlanls in Englalld and Wales IICAEW
31) Bear ,Street
BARNSTAPLE
EX32 7DD
22 April 2022
Pdge 8

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
ST ATENIENT OF FINANCI,4L .4CTII"ITIES FOR THE YEAR ENDED 31 JULY 2021
{INCLI,TDING INCOLIIE .4ND EXPENDITURE ACCOUNT AND STATENIENT OF TOTAL
RECOGNISED GAINS .4ND LOSSES)
Total
2021
Total
2020
Unrestricted Restricted Elldoiiinent
Note
Incolne and Endoiiments from:
tkiiidlioi)s diid legTaLie%
Other Iiadingi dLIji' j[ jes
InveslIi*nr incoi
121.869
?89
69
197.498
319.367
?89
.785
148.726
7.394
65.002
58.468
2.?48
Toidl Incoii
i?? ??7
?55.966
2.?48
380.441
?21.122
Eipenditure on:
RJislligT tuiids.
Cluriuble dLlivities
Other ex￿ndI￿re
Toldl Expendiftire
Gainsllosses on investhlent
dssets
1618)
{11.4771
145.A31 Ill3.9￿)
180.3631
(6391
{12,7341
(19,3851
1159,4931 1315,3451
180.3631
171.1461
{1?6. j241 (1?5.4?7
16391 I252.5￿)> (405,876)
2?3.638
21323
245.461
1104.0351
LU o) J Net lex￿ndi￿re1Iin¢0n
Net n1)ven￿￿t In Mnds
14.2971
3M.177
?3.432
373.312
1288.789
14.297
354.177
23.432
373.312
1288,789)
Reconciliation of funds
Toldl thiids bri)ught
furwdrd
86.173 1.975.392
109J?7 2.171.(y)2 2.459.881
Toldl thiids Larried
fOrw￿d
16
81.876 2.3?9.569
137.959 2.544.404 2.171.092
All of the cluriry's JLtivilies derive troniconiinuing I￿[all(l￿8 during the alx)ve IWO ￿li(KL%.
The tunds bredkdomffi tor ?O?O is show'n in tlole 16.
Page 9

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
{REGISTIL4TION NU￿llBER: IW7ii23)
BALANCE SHEET AS AT 31 JULY 2021
2021
2020
Note
Fixed assets
Ini'esriI￿l]rS
13
2.5￿.1{￿ 2.0?0,492
Current assets
SiLKks
Debiors
C￿h at bank in hdnd
i.o?0
5.838
154.252
1.020
13.159
I43.￿9
14
161.110
157.728
Creditors: Amounts falling due Mithin one l'ear
Net current assets
15
16.8101
17,128
154.31M)
150.(
Net assets
2,544.404 2,171,092
Funits of the charil).:
Endoiimenl fullds
132.959
109.527
LU o) J Restricted income funds
> z u Restricted tullds
Unrestricted inco]ne funds
Uiwestricted tuiids
2.329.569 1.975.392
81.876
86,173
Total lullits
16
2.544.404 2.171.092
Page 10

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
{REGISTIL4TION NU￿llBER: IW7ii23)
BALANCE SHEET AS AT 31 JULY 2021
For tlie fi￿nC￿l year endin¥ 31 Jul). ?021 the LhaTiI)' was entitled to exen]pti()n froiii dudil illlder
5eLtioii 477 ot the C()mpdnie% ALt ?(M)6 rvl<iiing to siiEIll coiiwai)ie&
DireLlors' TesyTr￿￿lbI11tie￿
The ii]eiiibers hdve not TequiTed the Lharily to ubtain an audil of its. dLLouiits' for ibe ye￿￿ iii
qUe41iiTrn in dLcordance with section 47&
Tlie direLtors dckn1)￿'led¥e Ilheir res[M)￿￿1bIIliie￿ tor Li)n]plviiig ii'.itli Ihe requireiitnts ot ilie Act
'iili TespeLt to dLLI)unling TeLords' the prepiWatii)n ot aLLOUlIts.
These dLLuunls hdve been prepared lll aLcorddtL'e wilh the proi'i£ions appliLable to coiwailies
ubjeLt to tlie biiull coii)panies regi11￿.
Tliese tllLiiicial slaleiirnls luve been prepared ii) accord￿]Ce ii'.iili Ilhe .speLidl provisioils relÉiling to
coii]paiiie$ 4ubieLt to The sii]all coli]panies regll)k withill Pdrt 15 ot Ilie fj)n]panie% Aci 2006.
The fi￿c￿l sl<ilen￿￿1s on Pd¥V% 9 to 29 were appri)ved b), the trustee5. autborised for issue on
22 April 2022 signed on their t￿l￿1f b)-
O <( < Mrs L Waketield (Chair)
Trustee
Page 11

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
I CHARITY STATUS
Tlie Lli<iTltJ is a Lhdri15.' liniited bj guarantee and cnnsequev]tlJ' not have share Lapital. Each of
tliv tru%tvvs is lidble tu Luiitribule an aiiK)unt not exLeedllig £10 i0￿,￿d5- the assets ot ihe Lhdril} ill
tliv event of liquiddlinn.
Tlie prinLipdl plaLe ot'busilless i&
Wesl BuLkldiid SL'h(Mil
Wesl BuLkldiid
BARNSTAPLE
Devon
EX32 OSX
These fill￿￿1 slalenrnts. were duthorised fur issue by the trustee5 on ?2 April 2022.
2 ACCOUNTING POLICIES
Summan" of Significant accounling wblifies and k-ei accountinge5timates
Tlie prinLiPdl ilLLI)unling' p(iliLie% applied in the prepdratii)n ot Ihese till￿)Lial Staten￿lI￿. dre Set out
below. These p()lieie% have I￿#ll c()IL%L%tenilJ' applied io dll the years PTe%enled. unless uilierwise
51dled.
Statement of compliance
Tlie t-￿a1]ll￿1 slaleiirnls hdi'e been prepared iii ￿L￿rdanCe witli ALC()unting and Re￿)rtIng by
(J (n ￿ Clurilies: Suleil￿11[ ot ReLOnlli￿nded Praclice IdppIiLdble lo Llurities preparii)g iheir dLLUUlIts iii
dLLorddiice with the F￿l￿1 Rep()rtill¥, Sunddrd 2ppliLable II) the LTK dnd RepubliL Ot Ireldiid
IFRS 10?11 il%%uvd in (ki0￿r 2019
Iclidrities SORP IFRS 10211. Ilie Fin￿1claI Re￿)rtI1]g
Staiidard dppIiLiible lli the UK RepubliL Ot Irelalld IFRS 1021 alld Ilie Ci)ii]P4inie% Aci 2006.
Basis of preparalion
Tlie Wesl BULkI￿ld SL'hwl FoundJtion tneets the defmition of a public ￿li￿ri1 enriry, under FRS
10? Asbeis ￿]d liabililivs are inilidllJ' rthi)giiiNed at historiLal Lust or IrdllSdLtiOll N'dlue ui)less
utlierwise slaled in the Televant aLLI)unting p)liL J. note
The Lhdrilies functio￿1 dnd pre%entati()n Curre￿), is the £ stvrlin
Going coneern
The Irustevs Lonsider that there are no i]uteridl unLVrtdillties aix)ui ihe Ll]iiTify's dbiliry to Lolltinue
as a goii)g concern nor ￿Y signiticant areas of unLertainry thdt affeLI the carryiivg Vdlue of <issets'
lield by the Lharilj..
Eiemption from preparing a cash floil" stalenjent
Tlie Llidritj. i)pled to e￿1 J ad()pt Bulleiitl I publi%lied un 2 February 2016 dnd have iheretore not
ii1Lluded a Lds11 tluii. blaleil￿11[ iii Ihese t-llunLial suieii*nts.
Page 12

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Judgements
Tliere are no judgen*nl% which Ihe trustees have iikide in Ihe PT(Ke%s ot applying Ihe ¢lCL()Ulltllig
p()licie%.
K￿. source5 of estimation uncertain
Tliere are iio kei.. sources (Ft trillliulion unLVrtdiilt)' that bave a signifiL41nl risk of causiiig a iiuleridl
djusiiiriii to dssels dnd Imbiliiies to be diSLlosed.
Incolne and endoiiments
All lllLO11￿ IS TeL()giiiied OllLe the charilS' hJ5 enti1lvn￿llt to Ilie iIlLoine. it is PTnbable ihai ibe
iIILuiiie M.'ill be received Jiid the ￿]￿U￿t ot the inLOil￿ reLeii'able LaIi be i1￿￿ured rvlidbl)".
Donations and legacies
tkiiidlions are TeL()gniied ￿'hell the charits. has ￿en notified in ￿Ti￿ng of [￿}th the anu)uiit dnd
sellle1i￿￿t date. In the evvnt thdt a dO￿lI0n is subieLt lo Loiidilions that require a level of
perti)rtn£￿cv by the LhaTlt) t￿tore Ihe LhaTilJ' is eDliiled to the tunds-. the iiicoine is deferred dnd nut
TeL(IgTiii%ed uiiiil eiilier those Lundiiiuns are tullj" li￿t. or the tulfdii*iii of those Loiidiiioiis is wh(Illy
wiiliiii ilie Loiiirul ot Ihe Llwi15' ￿]d it is priTrbdbl¢ tkui Ihese Lundi(iutLS H"ill be fUIt-￿ed iii ibe
Te￿}rti1]g, peri(xl.
LegTaLy gitis are TeL()¥ni%ed a Ld5e bs. L￿￿ basi5 tolli)wing the gr￿lt of pri)bate when ihe
LU o) J ddiilllli5tratorlex¥Luior tur the estate has LOlilliiulliLdled iii 11.Titing tmltli the aiiK)uiii and seitleiiienl
date. lil the event thdt the gift 15 in the turni of ￿ ￿Set uiher than OT d flllaiicial dsset Irdded on
a TeL(IgTiiiied blLKk exLhange, reLiigTnili()n is NubieLt lo Ihe i'alue of the g7ifi t￿Ing rvliÉibls" iiied%urdble
(J (n ￿ willi a degree ot Te￿o￿ble dLLuf¢KJ' and Ihe lille lo Ihe dsset lul'li￿ ￿ell trdiisferred io ihe Llidrily.
Grants receivable
Graiiis &ire TeLI)gnisvd wheii Ihe ch￿7[5. hds an ell1iileIi￿lI[ to the tuiids- diid ¢lli)' LoI)dilions liiiked to
tliv gTdnls hdve beeii iiiet. Wliere perti}rn￿e Loiidiiions are alldLlied to the gTraiit diid are yel lo be
Inet. Ihe income is TeL()gniNed as a lidbilil). inLluded OI) the baldiiLe slieei as deferred ii)coiiie to
be Teledsed.
Doiiated services alldfacilities
Wliere services or t￿l11t1#S are pri)vided io the Lharit), as a dO￿tiOn ihai would n()Tnully be
PulLI￿Sed fruiii our %upplierK this t￿llerit is inLluded in the fllunciai ststen￿llts. at it's fdir Vdlue
uiiless it's tair i'aIue Lannot be Telidblj. nrasured. Ihen at Ilie Losl lo Ilie doiior or tlie resale value ot
TIK)ds dial are to be sold.
Eipenditure
All e.1￿ndItUre is Tee()¥ni*d once there is a legal or lo￿￿tructive i)bligati()n to ihal ex￿ndInIre, it
is pr()bdble settle1i￿lIt IS Tequired the atwunt call be i1￿￿ured relidbls,. All Losts. are all￿￿ted
to the iwpli<ible eX￿ndI￿re hedding that aggrvg4ile sin]]1￿ Losts lo that Lateg()ry.
Raisiiigfuiids
Tliese are Lusls incurred in attraLting v(pluntJry income. Ilie tllanagvntnl ot llivestti]eiits alld iliose
iiicurred in trdding 2ciivities that raise ti]nds.
Page 13

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Charitable aclivi¢ies
Chdriuble ex￿ndin￿¢ conwrises those Losts incurred by the clwiry in ihe delivery of its &tiiiities
aiid services tor its beiieticiaries. Ir inLludes tK>th L05ts Ihai cali be alliKated direLdy io sucli
aciiviiies ￿]d tthose costs ot an illdireci nalure neL￿Nd￿, to suptx)rt Iheiii.
Granlprovisions
Provisions tor gtanis are i]ude w'hen the intellTlOVI to IiEike a &y[￿lt hds iyen LoiiuiiuniLated to ihe
Tecipient bui diere is unLertdinl)' atM)ui eiiher the titning ot Ilie gr1￿1 or Ihe diwunt ot gTrdlli Pilydble.
Supwrt costs
Suppi)n Lo%ts inLlude Leiiirdl funLtions and knie all(Kated to dLtii'ii)" Lost LdtVgTiirie% where
LUSIS are %￿Lif1c￿lIS. illLurrvd. N1)n-%￿Lif]L Losts hdve not been ail(Kdted dgi11￿%1 dLtii'iles. whiLII is
LOllSiStent H.'iih previous )'edtS.
GoT¥ernance costs
Tliese inLlude ihe Losts. attribuiable to the Lhdrit) S Ll)iiu>lidllLe with Lollstiftltional dnd %tatut()ry
Tequiren*nl%. inLluding audil. StrategiL ￿gen￿￿t and trus1ees's n]vetingT% ￿]d reiiiibursed
expenses.
c( z Taxation
Tlie LhdTitS.' is LUi15idered tu pas% the tVSts svt out II) Pl￿dgrdph I k.Iiedule 6 ot the FiiuiiLe ALI ?010
> z u diid iherefore it ineets tlie de1-￿Ill￿ll ot a Llidriuble Li)IllP¢inj" tur UK LI)TtM)fdll()n tax purp(i%es.
O <( < ALLI)rdingl)'. Ihe Lhatil). is p()ieniialls' exeii)pt troiii ts￿[10n ii) res￿LI ot ll]COii￿ or Lapltdl gains
received Th'ithin Cdlegi)rie% covered bj. Clidpier 3 Pdrt 11 ot Ihe Ci)rtM)T<ili()n Tdx Aci 2010 or
Sectioii 256 ot tlie Taxation ot ChdfgTedble Gaills Aci 1992. to Ilie exteni Ilui sucli llicoine or gains
dre dpplied exLlu%ivels tu Lliariidble purp()*%.
Tangible fixed assets
Iiidiwidudl tixed assels are initially reLor(kd at ci)M. less 2ny subsequ¢ni dLLunwldted depr¢¢iation
aiid lubsequent acLuAiiulated itry)4iirtnent losse&
Deprecialion and amortisation
DepreLi<iti()n is priTri'ided on I￿￿TIble t-Lxed ￿￿¥t5 bo ds Io WTite off Ilie Losl OT Vdludtii)ii, less Éiny
estiiiuted Te51d￿l fvdlue, over their ext￿L¢ed useful econoinjc life as follows:
Asset clL&s
Furnitiire equipn*nt
Deprecialion method and rnle
IIK)% ot nei IMM)k Vdlue
Page 14

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Fixed asset inTr'estments
Fixed assvt iiivesiiiEnis, oiher IlLin pri)granM￿ related uiveslliEiits. are llicluded at iiwkei value <lt
tlie balaiice slieet date. Realised gli￿g and losses QI) ini-.esiil￿l1[S are calculaied as ilie ditiereiice
belweeii bales priKeed% aiid Iheir iiurkei I'dlue at the Start ut Ihe )"edT. or Ilieir sub%equeni LllSt. dlld
are chdrgvd or Lrediled tu Ihe Statenlent ot Financial ALiii.'iiies in the ￿[liK1 of di%p(1Sdi.
ul￿edI15¥d galns and Iossvs Tepre%ent the tnol,en￿nt fn ￿Tket vdlues during ihe yeaT dnd are
Lredited or Lhdr¥ed tu the Suieii*iit ot Fli￿L￿] ALIiI'iIiVi b￿¥d oIi the Iiurkei N'dlue dl il)e ￿edr
eiid.
Stock
StuLk is vdlued at the lower (Ff L￿it dnd estil￿ted svlling price Ivis Losts to Ll)n]plete and sell. after
due TegTdrd for L)bs'olete Jnd sluw n￿vIng st(Kks'. Cust ts delern]illed uslng the first-itL firsl-oui
IFIFOI.
Trade debtors
Trd& debiurs are Jnwunts due troni LU5tomers fur nyrLhalldI￿ sold or senTices ￿rf(1rn￿ in ibe
iirdiiwy. course ot business.
Trade debiors are TeL()gniNed iniridlls. at Ilie [r￿￿CTIo11 price. The). are 4ub%equeiitl)' iiieasured at
di11)rt￿ed LOSt usingF the etteLiive iniere5t li￿th{MI less prui.'isioii tor iiiWdini]eiil. A provisioii tL)r
LU o) J tliv inip<iiTllftit of trade debiors 15 eSidblished when Ihere is <)bjeLlive evideiiLe ihai il)e Lhdriry will
> z u nut be dble to LolleLt all ￿m)U￿r5 due aLLI)rding to the i)riginal tern￿ of ihe rvLeivdbles.
(J (n ￿ Cash and cash equii"alents
c￿1] dnd L￿h equiidleni% coIi]prise ￿5h on hdlld ull dep￿IL5. and oiher short-ierin hi¥hly
liquid liiveslii￿llis thdt are reddil). Lonvertible lo a kwwn ￿lI}Unt of L￿h and are 4ubjeLt to an
iJLsignitlLdnt T￿k ot Lhdnge in i'alue.
Trade creditors
Trdde Lredilors are iTrbli¥ati()n% to Pdy fur g(MKl% or services that hdve been acquired in ihe i)rdindry
course ot business troiii %upplierK ALLounls pdl'dble are Llassified as lu[re￿ liabilities if ihe LliÉirify
dues not hdve an unLondiiio￿l right. at the end of the rvtK)rting ￿[1(MI. to defer svttleiiriii L)t ihe
L Teditur fur at le￿t twelve iiwiiihs Jfter the retK)rtin¥ dale. If there is an unLondiiiuiul riglil to defer
5elllei1￿￿t tur at Thi"'elve iij)iiihs Jtier Ihe re￿)[11￿￿, dale. the). are preNei)ied as noii-Lurreiit
liabilities.
Trd& Lredilors are TeLI)¥nL%ed iniiullj. at the traI￿aCtIOn PTiLe dnd subsequeiitly nEasured at
di11)rt￿ed Lost USlVlgF the etteLlive interest i￿th{MJ.
Page 15

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Fund structure
Uiwestricted inconr tunds are generdl tuimts thai are available t'or use at Ihe trustees discrelloii iii
turilierance ot tlie (TrbieLtii:e% ot Ihe LhdTiry.
Restricted incoii* tunds are i110se do￿ted for use In a pdrtiLular area or for %￿lfiL purtK)*s, Ibe
use ot w'liiLII is TestriLted tu thdl area or purp(lie.
Periiuieiii endOwn￿￿t tunds are Iliose dLquired IOT which Ilie tnistees hdve no tMlW'er Io Lonvert ihe
L<iPital intu inLonr and inLuIir is to be Used tor a speLifiL PUryM)se. Ihe use of wliiLIi is
TestriLled to Ihdt PUTtxiNe. The ternts ot the dLqUL%itii)n required the ¢id()ptii)n ot ihe loLIl Teturn
Ippr()ilLh tu invesft1]eiit Ihai the Ldpitdl should be pre￿ri.ed in relatioii lo intlatioii.
Financial instruments
Classificatio
FIn￿l￿1 assets Jnd ti￿nL￿1 liabilities are reLI)gnised when the Ll]iility b¥L'oli￿5 a Pdrty to ibe
LuiilraLtUdl proN'isloiis of tlie in5mJnient.
Fin￿L￿1 liabiliiies Jnd equits. instrUn￿nts are LlJ5sified aLL(ITding to ilie 5ubs'tsiiLe of ihe
LoiitraLtUdl entered into. An equitj. instru11￿1]t is an), LontrdLi ihal evidences a residudl
iiitere5t in the d55els of the chaTlt)' after deduLting all of ils liabilities.
c( z Recognition aiid measuremenl
LU o) J Ail fU￿1]cIal d55ets' Imbilities are iniliall). Iwasured at trdnklLliOn price linLludingi irdllsdLtion
> z u Liis1% I, exLept tor Iliose tilL￿cial ￿5¥t5 classitied as dt tair value thri)ugh pri)til or loss, wliicli are
O <( < initl<illy' iiEasured at tair i'alue IwhiLh is ni)TnullJ' Ilie [ra1￿CtIo11 price exLludiiig Iraiisactloll Lll%ts1,
(J (n ￿ uiiless tlie iIrrdn¥ren￿nt LO1￿litU[es d tiiunLing [ran￿LtI017. It dn drrang7en￿n[ Loi]51ituies a tIll￿)lIng
Irdlls<LeiiiTrn. the t-￿￿lIa1 asset ur tuwiLial li4ibiliiJ' is I￿asured at ilie prv*enl Vdlue of ihe fijture
Pilyiitnl% disLounted at a nwket rate of interest tor d Sllnildr debi in5tniii￿￿t.
Fil￿]Cial assets and liabiliiies are I)1￿5. otisei in the Stalen￿lit ot fil￿]Cial p)sAiii)ii wheii. aiid iiilly
wlieii ihere exists a legTdil) enforLedble right to svt uff the reLii¥iii%ed ainouiits diid il)e Lli<iri(y
iiitends eidier tu bet(le on a net b&s'i& or to reaiise the ￿Set diid seule ilie lilibility %lliiulL￿e()U￿Iy.
FIn￿l￿1 ￿set5 are d￿r￿1>￿T￿lIed when and i)niy when a) the LoiitrdLtual righL% lo ilie Lasli flows
froiii ihe fiiidiiLuI dsset expwe or are seTtled. bi Ihe Llurir). transfers to dnotlier part), %ub%Vdl)lially
all ot tlhe rlsks ￿ld rewards ot (DI￿)ershIP ot Ihe tiiLincial &%sei. or L I Ibe LI￿rit￿,. despile haiiiiig
retsllied soiiie, bui iiot all, Ni¥nitlLdnt risks and reii'ards ot l)WllVT%hip. I￿S Iraiisterred coiitrol ot ilie
Isset to dnoiher party.
FI￿c￿l liabilities dereci)gni*d ()nlJ' when the <)bligdtii)n speLified in ihe LuiitrdLt is
disLhdrgTvd, LdllLelled or expire&
Page 16

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Debt instruments
Debt insirun￿n1s whiLh n]vet the ti)Ilowing Lollditions are sub8¢qu¢lltly n]easuTed at dnK)rtised Lust
using The ettective interest nEthod=
(al The LontrdLwI Teiurn to the holder is l il a tixed anM)unt' lill a [M￿lI1ve fixed rale or a ￿KS111Ve
varuble rate; or liiil a COn￿l￿[lOll of a p(liirive or a negiltive fixed rdte and a [M￿lI1ve vdriable Tate.
Ibl Tlie LontrJLt Thy pri)iii(k tor Tep3v￿*￿t% ot Ihe prinL W411 or Ehe remrn to rlie holder Ibui not
b(ithi to be liA)ked to a Nin¥le relei'ani obsern'able llide.x ot geiierdl price iiitlaiioii ot Ilie LurreiiLs iii
whiLh the debt instrUn￿￿t is deni)minated. pri)vided SULh lit￿5. not leveraged.
ILI The LunlraLt may pri)vide tur a de1ern￿b1e v￿latIOn of the return to ihe holder during ilie life
of tliv instrun￿￿1, pr()vided thdt lil the new rate ￿li￿tieS Lulldition Idl diid the var￿tio1] Is nut
LiiiilingTenl on tuture ei'enls other Ihdn (l > a Lhdnge of a LontrdLtual N'druble Tate; 12110 pri)teL T ihe
li()Ider d¥dlIL%t Lredit deieriurJiion ot Ihe issuer. 13) Lhdnges in le￿ie5 dpplied bj, a Leiitrdl bdi]k or
arisii)g troiii Lhaii¥es in Televant ￿￿tIon or Idll or i li I the Ile￿.. rdle is a nurkei Tate ot inlere51 djid
lisfivs Londiliun ial.
Idl Tliere is no LontrdLrudl provision thdt Lould. by its teriiis. rvsuli in Ilie holder 108itigy ibe
c( z prinLiPdl ￿￿TrUnt or anj. lliieresi auribuiable to Ihe Lurrvnt ￿[lIK1 or prior pvriiKL%.
> z u lel ColltraLtUdl pruvi5iL)y]s that perniit the issuer lo prepay d debt instru11￿￿1 OT ￿rni11 ilie holder to
O <( < PUI it bJLk to ilie issuer before ￿￿1[11￿. not Li)ntiiigent uIi tu(ure ei.'enls. uiher thdii to pri)teL T ihe
iiolder il¥dlIL%t the Lredit dvteriL)rdtion of the i55uer ur <1 Lhdnge in Lontrol of ihe issuer. OT to priTrteLI
tliv Iiulder or issuer dgT<iitLSt change% In levies applied by a Lentrdl bai]k or arising from Ll)dii¥es 111
Telev￿[ ￿1101] or Idll..
It) CL)ntrdLtUdl prol isions tntl) pernllt the exien5ion of the terIii of the debi in%frUn￿￿t. priii'ided
tlidl ihe Teturn to ihe hulder and ans. oiher LoiitrdLlual proNisioThs dppliLable during ihe exleiided
teriii l<itistJ' the Loiidiiions (Ft para¥TTiwIL% lal to IL I.
Debt ii)struii*iiis tILIt are Lla5Sitied as pa)'¢ible or receii'able ii'.itliiii oIie veaT 011 lllitial reLiigTiiiti()n
aiid wliiLli ii*ei tlie a￿ve Loildilioi￿ are ii*asured ai Ilie undiscoullied aiiK>uiii ot die casli or otlier
LUilSideratioii ex[￿Cted tu be Paid ur reLeii'ed. net ot in]P<lini￿￿l.
With thv exeeption LFf hedgTing Instrun￿￿t5. Uther debi instnin￿￿ts not n*eiing ihese
Luiidiiions are ilfd%ured at tdir vdlue IhTI)u¥h pri)tii or luss.
Coiillllltli￿nis tu iiuke Jiid receii.-e lo￿5 which tneet the LotKlitiotLS n￿lItIoned alx)Ve dre n￿asUred
at Lust IwhiLh iiu5 be llill less in1p￿li￿￿￿I.
Page 17

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
Inveslments
Investntnis in nun-Lonvertible pr¢fer¢nL¢ shares nOll-pu￿bIe i)Idinary or pr¢f¢ren¢¢ SI￿r¥S
(where sliares are publiLI) traded or dieir t'air value is reliabl), tnv41AufÉible l are ii]easured Élt tair
value ihri)ugTh priitit or loss. Where t'air value callnot ￿ li￿asUred reliÉibl)'. llivesttiieiits are
11]edsured at Lost less inipdlrn￿n[.
Fair value measuremenl
Tlie best evidence ot tair value is a qu()ted price tor an ideiiiical asset in an aciive iiurket. Wheii
qUl)i¥d priLes are U￿valIdb1¥. the PTiLe ot d rvLeDt tralL￿Cl1()n tur ￿ ideiitlLal dsset PTI}iiides
evideiiLe ot fair value as liin¥ as Iliere hds not ￿en d %igTnifiLdVIt LI]£inge iii eLoiiuiillL LifLuiiistsI)Les
or a %igTnifiLdnt Idp%e of llll]e billLe the trdnsJLiion twk pldLe. If the nwkei is nol dLlive diid reLeiit
transdLtiO￿% ot an iden(iLal ￿￿et on Iheir 0￿7) are not a giMKI estiiiule of fdir vdlue, Il)e fdir N'dlue is
esliiiuled by using a fvdluation teLhnique.
Page 18

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
3 INCOME FROIII IKINATIONS AND LEGACIES
Unreslricted
funds
General
Restricted
fun(ts
Total
2021
Total
2020
tkindtions dnd legaLie%'
Dondliuns frutn individuals
LegFaLiVS
Giti Jid TeLldiiird
Graiiis. inLludingT L<iPital ￿all1
Grants fruiii other Lharilies
Dundtvd servlces fraLilities
9.519
73186
123.612
83.435
1?3.61?
34.893
7.424
6.￿)5
30.(KK)
79.?72
30.(KM)
79.272
30.0(K
69.51H
1?1.869
197.498
319.367
148.726
4 INCO￿lE FROI¥I OTHER TIL4DING ACTIIITIES
Unn%tricled
funds
General
Total
2021
Total
2020
O <( < Tradingy inconr;
Sdles L)f giM)d% servlces
Events inconr;
Otlier evenls incon
s￿)￿%()[$hIp incon)e
?89
?89
287
5.(t)7
?89
?89
7.394
5 INvEsT￿lENT INCOL¥IE
UDTestricted
fun(Ls
General
Endoiiinenl
funds
Pernwenl
Restricled
funds
Tolal
2021
Total
2020
Inlerest Teceivable dlld simil
liieoiiie.
Iiiterest TeLvivdble on bank
dvp()%il%
Otlier interest Teceii'able
Other inLoii]e t'roiii tiKed ￿Set
Inveslii￿ll1s
43
26
43
26
546
58.468
).716
61.456
69
58.468
(rf).785
65.002
Page 19

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
6 EXPENDITURE ON RAISING FLTNDS
A) COSTS OF GENEILITING tM)NATIONS AND LEGACIES
Unre5trieled
Total
2021
Total
2020
General
Other direLt L05ts ot generating vi)luntary' itiLOtt
618
618
7,435
B) INvEsT￿lENT TrL4NAGENIENT COSIS
Endominenl
Tolal
2021
Total
2020
Restricted Pernwenl
Other investnEnt n￿g￿ll￿nt Lust
Adiillnislrdliuii ot the investi￿￿(5
11.477
639
12.116
11.950
11.477
639
12,116
11,950
O <( < 7 EXPENDITURE ON CHARITABLE ACTIVITIES
Unreslricted
Total
2021
Total
2020
General Restricled
Note
io
Grdnt fundingT ot dLlivities
AIILKdtvd supwrt Losts.
GOVer￿nle Losts
21.100
18.?56
6.187
113.695
?55
134.795
18.511
6,187
293.(H3
16.282
6.020
45.￿3
113.9S)
159.493
315.345
Page 20

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
8 OTHER EXPENDITLtRE
Unrestricled
Total
2021
Total
2020
General
Stsff Losls
Wagies dnd ￿1￿leS
'ial %eLuritJ'
Peiisioii Lusts
tkpreLi<itiiTrn, dJiK)lll￿ti0ll other sinlildf Los1s
Other resources ex￿n(￿d
70J15
6.726
3.312
70.315
6.7?6
3.312
62.477
5.687
2.839
83
io
io
80J63
80.363
71.146
No perM)n received eli￿lUn￿li(S ot I1￿re Ihai £(rf).IKK) during Ihe yedr.
The staff are etnployed by West BuLk-land SLhool. The Chariti, does not have employees. The
Losts shown are Ihe value ot. Ihe services donaied by the school.
9 ANAL YSIS OF GOI'ERNANCE cosrs
(J (n ￿ GOVERNANCE COSTS
Unre5trieled
funds
General
Total
2021
Total
2020
I11d￿ndent e￿Ill￿er tees
Ekniiiiiution of the t-ll￿ncIal st4ilvments
6.187
6,187
6.020
6.187
6.187
6.0?0
Page 21

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
10 GRANT-MAKING
Anall'sis of grants
Grants to institutions
2021
20?0
Grants to indiiiduals
2021
2020
Bursdries tor individuals
Additiuiul fundingi tur butS3ry Tecipients
Bursaries tor individuals JdvdllLed
Additioiul funding tur bur%dry TeLipivnts
8.437
9.196
13.066
89.182
5.359
154.325
5.836
Equip1]￿nt fur Wesi BuLkldnd SL'IKN)I
West BuLkldnd SL'h(M)l eli]erge￿Y tut¥J
ii.ioo
87.1(A)
4.531
39.(A6
98.?(A)
44.177
36.535
?48.866
To help the Sc'hool during the CoN'id-19 pandemiL. sLhool tees for the Foundaiion's bursary
studenis were paid in adi'ance, hence the lower hgure in Granis 10 indii'iduals 2021.
11 NET INCOMINGIOUTGOING RE50LTiCES
Net inLI)nung/li)utgT()ingi resources tor the Ye￿ iDLlude:
2021
2020
tkpreLiiitii)n of fLxvd ￿sets.
83
Page 22

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
12 T AXATION
Tlie LhdTiiy is a TegisteTed clJaTiI)' dnd is therefore exenwt fronit&xation on its charitable dLtivities.
13 FIXED A&SET INVESThIENTS
Listed
ini'estments
Total
lark'et ialue
Ai l Augiusi 2020
ReN"dludtion
IiiLoiit diid [r￿SterS in
Mdlld¥eiiieiir Lhdr¥e% transters out
2.0?0.492 2.090.492
245.4(11
?45.4fll
159.328
159.328
135.1761 135.1701
At 31 July 2021
Net book I'alue
2.3￿.104 2.3￿.1(￿
At 31 July 2021
LU o) J At 31 July 2020
O <( < Funher details ot. each invesiment are disclosed in note 21. with ihe restricted tund totalling
£2,257.145 and the endowment tund ioralling £132.9i9 ThhiLh in total is the above figure ot
£2,3￿,104.
2.31X).104 2.31x1,104
2.0?0.492 2.020.492
14 DEBTORS
2021
2020
Trdth dvbiors
PrepdyII*I)I
3.938
11.213
5,838
13,159
15 CREDITORS: ANIOLNTS FALLING DUE II'ITHIN ONE YEAR
2021
2020
Trdth Lreditors
ALLruals
669
6.141
873
6.255
6,810
7,128
Page 23

141
111_ 1. 41

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
16 FUNDS (CONTINLTED)
The permaneni end0￿,ment 1st Michael's and .41an Ca￿) Fund) is inNested on a total return
basis, as Tequired bs, The donor. The donor ￿qUired that the tunds should be n]anaged so that
the Lapital is preserved in relation to intlaiion. The Trusrtts. took advice trom Iheir invesirnent
adi'isors, Srnilh & Williamson, and the reiail priLe index has been used to calculaie ihe inflation
measure. The dale ot Ihe iniiial i'alue ot the Irust tor ini'esimeni and ihe establishrneni date ot
the initial value ot Ihe unapplied ioial return was I l (kiober ?014. In ihe s'ear ended 31 July
2021 an additional £3,162 has been added to the original gift Lon]ponenT to saiisfy ihis
requiremeni.
The inTr'estment fulld alld application of
total return to ￿rn￿ent endoiiment
fun(is:
Endoiiment
Unapplied
total return
Total
ningy vdlue of endoW￿]ent
Giti c()nux)nent LFf perinaneiit endo￿￿￿￿1
plus inflaliun as at l Augu%t ?019
c( z Ul￿pplIed tuldl Telurn
Total:
> Zu Moveinent in unapplied total Teiurn and
end0￿,]]￿1]t in the ye4￿.
(J (n ￿ Ini-.esiiI￿il1 return.. dividends inlervit
Ini'eslIi*nr
return..
Teci)gni*d
82J44
82,344
27.183
27.183
27.183
82J44
109.527
2,?48
2.248
21.823
21.823
InveslIi*nt liill)dgYel]*llf Losts.
Total:
16391
23,432
1639)
23,432
Uiupplied tuldl Teiurn all￿￿ted to incon
Uii<ipplied toLIl rerurn JlliKated to gift
Liiiiw()neiit tor infldliun
Net moTrement in the TetM)rting period
Cli)sing vdlue of ￿rn￿nt
Gift c()nuMTrnent LFf perinanent endo￿￿￿￿1
Ldrried forward
3.162
13.1621
3.162
13.1621
85J)6
85,506
Uiupplied Tuldl Telurn
Total
47.453
47.453
47.453
85.506
132.959
Page 26

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
17 ANAL YSIS OF NET ASSETS BETM"EEN FLTNDS
Total
Endoiiinent funds at
funds
31 Juli
Pern￿llent
2021
Unrestricled
funds
General
Restricled
funds
Fixed asset investtnents
Curreiit dssels
Current l￿bilitIeS
2.257.145
7?.454
1301
132.959 2.3￿.104
161.110
16.8101
88.656
16.7801
Toial ner asseis
81.876 2J?9569
132.959 2.544.404
Total
Endoiiinent funds at
rui)ds
31 Juli
Pernlallelll
2020
Unrestricled
fuDIts
General
Reslricled
fullds
Fixed asset investtnents
Current assets
Current l￿bilitIeS
1.910.965
64.427
109.527 2.0?0.492
157.728
17.1?8
93.301
17.1?8}
> z u Toldl net assels
86.173 1.975.392
109.527 2,171,IW2
18 ANALYSIS OF NETFL￿5
At l Augu51
2020
At 31 Julv
2021
Clsh flom"
Casli at bank ￿]d in ILllld
143549
143549
10.703
154.252
154.?52
Net funds
10.703
At 1 .4ugu51
2019
At .11 Jul),
2020
C&sh flom
C￿h at bank in hdnd
?38J55
195.(M)61
I43.￿9
Net funds
?38.555
195,(K161
143,549
19 TRu￿EEs RENILTNEIL4TION AND EXPENSES
No tru%tev%, nor ￿[s{)IL$ Lollllecied wilh theiii. have received any reii]uiieralloii troiii tlie LIvdTi(y
duriiigT tlie J'edr.
No tfUStees hdve received any Tell]thrsed froni the LluTity during ihe Ye¢￿.
Page 27

THE IVEsf BUCKL.4ND SCHOOL FOLTNDATION
NOTES TO THE FINANCIAL sfATEI¥IENTS FOR THE YEAR ENDED 31 JLILY 2021
20 RELATED PARTY TRANSACTIONS
DuringT ihe Je<ir Ihe Lhdrity i]ude Ihe li)IliTrwing related pary trdnsaLtiot]s:
Il'est BucldaDd School
Iiiiiiiigible itiLoiiiiiig resources ot £79.272 12020 - £69.5(Hi repre%enLS Ihe Losts. Ot Ilie services
doiiated by Wesr BuLkI￿)d k11￿1 aiid tor ii'liicb iio relliiburseil￿IK is rvquired. Ali additiOiLqI
£30.tKK) is pr()vidvd by the k'hwl to the Fuunddlion ds d Lontribution toW￿d5' adiiiiiiislration LOStS.
The Founddliun Lotmilltted during the Ye￿ to nEike granLS of £l?0.050 12020 - £287,684) to ibe
SL'huol. At the baldnLe sheet ddte the anwunt due to West BuLkId￿J SLh(K)I was £8112020- Nil).
Page 28

ryltr-
rritr-Tr4
Cot