## **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
THE WREKIN COLLEGE FOUNDATION 2
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**
THE WREKIN COLLEGE FOUNDATION 4
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to 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 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.
THE WREKIN COLLEGE FOUNDATION 5
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**
THE WREKIN COLLEGE FOUNDATION 6
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:
1. accounting records were not kept in respect of the Foundation as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
THE WREKIN COLLEGE FOUNDATION 6
## 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.
THE WREKIN COLLEGE FOUNDATION 7
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.
THE WREKIN COLLEGE FOUNDATION 8
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.
THE WREKIN COLLEGE FOUNDATION 10
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.
THE WREKIN COLLEGE FOUNDATION 10
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.
THE WREKIN COLLEGE FOUNDATION 11
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.
THE WREKIN COLLEGE FOUNDATION 12
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**|
THE WREKIN COLLEGE FOUNDATION 13