The Wrekin College Foundation
Annual report
for the year ended 31 July 2025
Registered number: 1103684
Trustees and Advisers
Name of Trustees
Dr Haydn Griffiths, Chair Mr David William Prentice Brown (Resigned 1[st] January 2025) Mr Ben Longstaff Mr Richard John Pearson Mr Toby Spence Mr Neil Griffiths (Elected May 2024) Mrs Emma Crawford (Elected November 2024) Mr Richard Bruckshaw (Elected May 2025)
Secretary to the Trustees
Mr David William Prentice Brown (Resigned 1[st] January 2025) Mrs Gillian Dippenaar (Appointed 1[st] January 2025)
Independent Examiner
Cara Turtington FCA DChA Saffery LLP 71 Queen Victoria Street London EC4V 4BE
Bankers
Barclays Bank PLC PO Box 858 Wytham Court 11 West Way Oxford, OX2 0JB
Investment Managers
Evelyn Partners 103 Colmore Row Birmingham, B3 3AG
Solicitors
MFG Solicitors Edgbaston House Walker Street Wellington Shropshire, TF1 1HF
Address for enquiries
The Bursar Wrekin College Wellington Shropshire, TF1 3BH
THE WREKIN COLLEGE FOUNDATION 1
Trustees’ report (continued)
Registration No 1103684
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Trustees’ report
The Trustees present their annual report for the year ended 31 July 2025:
Structure, Governance and Management
Governing Document and Body
This Trust was created by deed dated 18 June 2003. The parties to this deed (the Original Trustees) were the Chairman of the Governors, an additional Governor and the Headmaster of Wrekin College, as ex-officio Trustees.
A maximum of nine Trustees were permitted by the original Trust Deed, but a resolution was passed on 8[th] October 2018 increasing the maximum number to 15. This has been filed and accepted by the Charity Commission.
The Trust achieved charitable status under reference number 1103684 and commenced activities on 11 May 2004. These statements are prepared to cover the year ended 31 July 2025.
New Trustees are selected to enhance the spread of skills and experience represented on the board. The process of induction includes meetings with the Chairman, Headmaster and Bursar of Wrekin College, together with an information pack containing details of Wrekin College and duties required from Trustees, and the opportunity to attend external trustee briefing sessions.
Organisational Management
The Trustees meet at least twice a year to determine the general policy of the charity and review its overall management and control, for which they are legally responsible. The day-to-day running of the charity is delegated to the Wrekin College Development Office, and the school Bursar, who is also a Trustee.
Risk Management
The Trustees are responsible for the management of the risks faced by the Foundation and will review annually the major risks and measures for mitigation.
They are satisfied that the mitigation of currently identified major risks has been or will be addressed.
Objects and Principal Activities
Principal Objects
The Trustees have wide powers and can apply the capital and income both for the provision of educational resources and facilities at Wrekin College and for scholarships and bursaries, as well as the provision of any other financial support to Wrekin College as the Trustees decide.
Principal Activity
The Trust’s principal activity is to establish a network of relationships with potential donors drawn from past pupils, staff and parents from Wrekin College, and any other potential sources, in order to raise funds to be applied in fulfilling the Principal Object.
Review of the Year
Regional lunches took place in Bristol during May 2025. Chester in February 2024, London in both October 2024 and April 2025 and Manchester in October 2025. These meetings are important to the Foundation as they help reunite alumni and for some, reignite their interest in the school and, at the same time, build awareness of its work and thus help generate donations and legacies for the charity. They were all attended by the Chair of the Foundation.
In addition to these social events the annual informal Foundation Lunch was held during the MCC cricket match at the school in June. At this lunch, potential donors were addressed by the Chair of the Foundation. The annual Old Wrekinian Association Dinner was held at The Army and Navy Club (the’Rag’) in November 2024 and was very well attended by
THE WREKIN COLLEGE FOUNDATION 2
Trustees’ report (continued)
alumni. The gathering was addressed by the Chair of the Foundation, in the absence of the Headmaster.. The ever popular Hoylake Dinner at The Royal Liverpool Club was held in October 2024
The Giving Wall, funded by the Old Wrekinian Association, continues to attract interest. Donors are celebrated with a named plaque on the wall in recognition of their support for the Foundation. This is a long-term project which over time will raise funds for the Foundation and become an attractive focal point outside the Chapel.
More of the school’s archives have been digitised and are available on the OWA’s ‘Wrekin Connect’ portal and these resources are generating extra interest from OWs.
All of the Old Wrekinian Association events, arranged in conjunction with the office, were attended and used to promote the Foundation. The OWA, Foundation, and School continue to work closely together for the benefit of the pupils, which the Foundation supports and will support in the future.
Financial Review of the Year
Income for the year was £562,827 (£217,479 in 2024) and expenditure was £128,460 (£249,282 in 2024). Overall unrealised investment gains amounted to £95,897.
This resulted in net ingoing resources of £530,263 in the year ended 31 July 2025 (net ingoing resources of £102,221 in 2024). Overhead and expenses costs are met by the Foundation, whilst Wrekin College funds the staffing and premises costs.
Evelyn Partners continues to manage the Foundations investments.
In total £111,969 was awarded to fund prizes and bursaries to assist pupils who would not otherwise have been able to attend the school (£233,703 in 2024).
Investment Policy
The Trust Deed governs the Trustees’ investment powers. This permits full and unrestricted powers of investing at the absolute discretion of the Trustees.
The Trustees have responsibility for monitoring day-to-day management of the implementation of investment policy and investment performance. Following a tendering process in 2019, the Trustees have delegated the day-to-day management of the Trust’s investments to Evelyn Partners (formally known as Smith & Williamson). The Trustees will regularly review performance and the bursar received quarterly reports as well as a year-end valuation. Regular business updates are issued by Evelyn Partners.
The Trustees’ policy is to balance capital growth with the production of sufficient income to meet the annual expenditure requirements of the Foundation whilst ensuring as far as possible the protection of the underlying value of the Foundation’s Fund.
Cash balances are held in a range of deposit accounts with yields at the upper end of available market rates for charities.
Reserves Policy
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Trustees’ report (continued)
The Foundation aims to have sufficient liquid reserves in order to meet one year’s regular bursary award commitments. The unrestricted funds are mainly held on deposit as they may be required within the next 5 years.
Future Plans
Many of the Foundation’s projects are ongoing, The potential donor database is continually being developed and expanded. Major donors will continue to be identified and their particular areas of interest in the School ascertained.
It is planned to have a further Giving Day.
The Wrekin Music department continues to support the Foundation with an annual charity concert.
Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Contingent Assets
During the year the Foundation a substantial legacy was received following the death of an Old Wrekinian. Property left to the School some years ago, but not available until the demise of the co-owner, has been put on the market in January 2026. Also, another legacy, worth potentially more than £600,000, is awaiting probate.
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Trustees’ report (continued)
Public benefit
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning the future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set.
The Trustees consider the current fundraising activities resulting in donations to Wrekin College deliver public benefit. Details of the objects which form the basis of these activities, and a review of the activities undertaken in the year are given elsewhere in this report.
Approved by the board of Trustees on 29th May 2026 and signed on its behalf by:
Dr Haydn Griffiths Trustee
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Independent examiner’s report to the trustees of The Wrekin College Foundation For the year ended 31 July 2025
I report to the trustees on my examination of the accounts of The Wrekin College Foundation (the Foundation) for the year ended 31 July 2025.
Respective Responsibilities of trustees and examiner
As the charity trustees of the Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Foundation’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
Since the Foundation’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Foundation as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form 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’ which 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 which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Cara Turtington FCA DChA Saffery LLP 71 Queen Victoria Street London, EC4V 4BE
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Statement of financial activities
For the year ended 31 July 2025
| Notes Income Donations Gift aid Covenants Bequests Investment income Events Bank interest Total income Expenditure Management & administration Cost of raising funds Events Grants, bursaries & prizes Total expenditure Realised gains/(losses) on investments Unrealised gains/(losses) on investments 3 Net income/(expenditure) Transfers between funds Net movement in funds Funds brought forward Funds carried forward |
Unrestricted funds Restricted funds Expendable endowment fund Total Funds 2025 Total Funds 2024 £ £ £ £ £ 60,504 60,504 141,012 19,376 19,376 - 6,052 6,052 6,272 421,417 421,417 11,000 44,171 10,527 54,698 58,720 250 250 475 530 530 |
|---|---|
| 552,300 10,527 562,827 217,479 1,214 289 700 2,203 2,778 7,830 1,866 4,517 14,213 12,411 75 75 390 - 111,969 - 111,969 233,703 |
|
| 9,119 114,124 5,218 128,460 249,282 - - 55,632 13,259 27,006 95,897 134,024 |
|
| 598,813 (90,338) 21,788 530,263 102,221 598,813 (90,338) 21,788 530,264 102,221 1,117,187 266,263 644,548 2,027,997 1,925,776 |
|
| 1,716,000 175,925 666,337 2,558,261 2,027,997 |
No operations were discontinued in the period under review.
There are no recognised gains or losses in the period other than the result for the year.
The accompanying notes are an integral part of this profit and loss account.
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Balance sheet 31 July 2025
| Notes Investments 3 Current Assets Debtors 4 Cash at bank _ Creditors: Amounts falling due within 1 year 5 Net current assets _ Total assets less current liabilities Net assets Accumulated funds Expendable Endowment Restricted Funds Unrestricted Funds ___ 7 |
2025 2024 £ £ 1,972,232 1,890,548 - - 587,529 151,684 _ __ 587,529 151,684 (1,500) (14,235) _ 586,029 137,449 _ __ 2,558,261 2,027,997 _ 2,558,261 2,027,997 ___ ___ 666 644,548 175 266,263 1 1,117,187 _ _____ 2 2,027,997 __ ___ |
|
|---|---|---|
| _ |
The financial statements on pages 7 to 13 were approved by the Trustees on 29th May 2026 and signed on their behalf by:
Dr Haydn Griffiths
Trustee
The notes on pages 9 to 13 form a part of these accounts.
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Notes to the financial statements (continued)
1 Accounting policies
Accounting convention
The financial statements have been prepared under the historic cost convention as modified by the revaluation of investments. The financial statements have been prepared in accordance with the Statement of Recommended Practice (“SORP (FRS102)”), Financial Reporting Standard 102, and the Charities Act 2011.
Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash flow statement under SORP (FRS 102).
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
Charitable donations and covenant income
Charitable donations and receipts under deed of covenant are recognised when received.
Expenditure
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 settlement will be required and the amount of the obligation can be measured reliably.
Taxation
The Trust is a registered charity and is exempt from taxation on its income and capital gains provided that its activities are deemed to be of a charitable nature. Taxation deducted at source from investment income is recovered from the Inland Revenue. Taxation deducted but not recovered at the year-end is included in debtors.
Investments
Investments will be shown in the balance sheet at market value. Management of the investments is delegated to Evelyn Partners (formerly known as Smith & Williamson)
Funds
Unrestricted funds are donations and other income receivable or generated for the objects of the charity without specified purpose.
Restricted funds are for the respective specific stated purposes – Provision of bursaries and prizes, support and other specific fund raising targets.
2 Trustees’ remuneration
No remuneration has been paid to the Trustees in their capacity as Trustees. The Trustees are considered to be the key management personnel.
No expenses were paid to Trustees.
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Notes to the financial statements (continued)
3 Investments
| 3 Investments |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Market value at 1 August 2024 | 1,890,548 | 1,756,525 |
| Additions at cost | 319,563 | 256,792 |
| Disposals at proceeds | (346,969) | (234,825) |
| Net unrealised investment increase/(decrease) | 95,897 | 134,023 |
| Increase in cash held by investment manager | 13,193 | (21,966) |
| Market value at 31 July 2025 | 1,972,232 | 1,890,548 |
| ___ | ___ | |
| Cost at 31 July 2025 | 1,655,745 | 1,691,754 |
| ___ | ___ | |
| Investments comprise: | £ | £ |
| Fixed Interest and Index-linked Bonds | 410,932 | 377,630 |
| Private Equity/Property Funds | 287,769 | 233,376 |
| UK Equities | 376,598 | 446,944 |
| Global Equities | 865,101 | 813,960 |
| Other holdings of less than 10% and cash | 31,832 | 18,638 |
| ___ | ___ | |
| 1,972,232 ___ |
1,890,548 ___ |
Direct fund management costs have been split out in the Statement of Financial Activities and shown as cost of raising funds.
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Notes to the financial statements (continued)
Year ended 31 July 2024
| 4 Debtors Debtors & Prepayments |
2025 £ - ___ - ___ |
2024 £ - |
|---|---|---|
| ___ - ___ |
5 Creditors: Amounts falling due within one year
| Creditors / Accruals | 2025 £ 1,500 ___ 1,500 ___ |
2024 £ 14,235 ___ 14,235 ___ |
|---|---|---|
6 Movement on restricted funds during the year
| Current year Wrekin ASA Scholarship Bursary & Prize Fund Foundation Bursary & Prize Fund Comparatve year Wrekin ASA Scholarship Bursary & Prize Fund Foundation Bursary & Prize Fund |
Brought forward Income Expenditure Realised gains/(losses ) on investments Unrealised gains/(losses ) on investments Carried forward £ £ £ £ £ £ 41,103 41,103 225,160 10,527 (114,124) 13,259 134,822 |
|---|---|
| 266,263 10,527 (114,124) 13,259 175,925 41,103 41,103 411,133 20,125 (237,270) 31,172 225,160 |
|
| 452,236 20,125 (237,270) 31,172 266,263 |
The Wrekin ASA Scholarship Bursary & Prize Fund uses its investments and income to grant scholarships, prizes and means tested bursaries to those in need.
The Foundation Bursary & Prize Fund uses its investments and income to grant scholarships, prizes and means tested bursaries to those in financial need.
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Notes to the financial statements (continued)
Year ended 31 July 2024
7 Analysis of Net Assets
| Investments Debtors and Prepayments Cash at Bank Creditors due within 1 year Creditors due after 1 year Investments Debtors and Prepayments Cash at Bank Creditors due within 1 year Creditors due after 1 year |
Restricted Endowment Income £ £ 650.870 155,363 - - 15,467 20,561 - - 666,337 175,925 - - 666,337 175,925 Restricted Endowment Income £ £ 637,951 257,492 0 - - 6,597 8,770 - - 644,548 266,263 - - 644,548 266,263 |
Unrestricte d £ 1,166,001 - 551,499 (1,500) 1,716,000 - 1,716,000 Unrestricte d £ 996,664 - 142,382 (14,235) 1,117,187 - 1,117,187 |
Total 2025 £ 1,972,232 0 587,529 (1,500) |
|---|---|---|---|
| 2,558,261 0 |
|||
| 2,558,261 | |||
| Total 2024 £ 1,892,107 0 157,750 (14,235) |
|||
| 2,027,997 - |
|||
| 2,027,997 |
8 Related Party Transactions
The Foundation is connected to Wrekin Old Hall Trust Limited (‘Wrekin College’) and during the year made donations totalling £111,969 (2024: £233,703) to Wrekin College. Wrekin College donated £nil to the Foundation in the year (2024: £109,000).
Donations totalling £240 were received from Trustees (2024: £240). All of these donations were unrestricted.
There were no other related party transactions during the year.
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Notes to the financial statements (continued)
Year ended 31 July 2024
9 Comparative Statement of Financial Activities
| Notes Income Donations Gift aid Covenants Bequests Investment income Events Bank interest Total income Expenditure Management & administration Cost of raising funds Events Grants, bursaries & prizes Total expenditure Realised gains/(losses) on investments Unrealised gains/(losses) on investments 3 Net income/(expenditure) Transfers between funds Net movement in funds Funds brought forward Funds carried forward |
Unrestricted funds Restricted funds Expendable endowment fund Total Funds 2024 Total Funds 2023 £ £ £ £ £ 141,012 141,012 173,280 8,141 6,272 6,272 7,036 11,000 11,000 6,00 0 38,595 20,125 58,720 50,523 476 476 2,098 152 |
|---|---|
| 197,355 20,125 217,479 247,230 1,251 652 875 2,778 17,597 5,589 2,915 3,907 12,411 12,331 390 390 2,514 233,703 233,703 172,680 |
|
| 7,230 237,270 4,782 249,282 205,122 59,780 31,172 43,073 134,024 (60,734) |
|
| 249,904 (185,973) 38,291 102,221 (18,626) - - - - - 249,904 (185,973) 38,291 102,221 (18,626) 867,283 452,236 606,257 1,925,776 1,944,402 |
|
| 1,117,187 266,263 644,548 2,027,997 1,925,776 |
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