THE ELIZABETH COLLEGE UK FOUNDATION ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 ## **THE ELIZABETH COLLEGE UK FOUNDATION** ## **CONTENTS** |**CONTENTS**|| |---|---| ||Page| |Trustees and advisors|1| |Trustees' report|2| |Independent examiner's report|3| |Receipts and payments account|4| |Statement of assets and liabilities|5| |Notes to the Accounts|6| ## **THE ELIZABETH COLLEGE UK FOUNDATION** ## **TRUSTEES AND ADVISORS** |**TRUSTEES AND ADVISORS**|**TRUSTEES AND ADVISORS**|||| |---|---|---|---|---| |**FOR THE YEAR FROM**||**01-Sep-21**|**TO**|**31-Aug-22**| |||**From**|**To**|**Notes**| |**Trustees**|B R W Parker|04-May-07|ongoing|Chairman| ||M Martel|04-May-07|28-Jan-23|sadly passed away 28Jan23| ||N Mace|10-Dec-12|ongoing|| ||D A Carruthers|10-Dec-12|ongoing|Also Foundation Director| |||||(employed by Elizabeth| |||||College until 28Feb23)| |**Bankers**||Lloyds TSB Bank PLC||| |||High Street||| |||Andover||| |**Independent Examiner**||Mr J F Wilkes-Green||| |||Thornhill||| |||Rue Cotelle||| |||St Martin's||| |||Guernsey||| |||GY4 6QH||| |**Registered Charity Number**||1120954||| |**Charity's Principal Address**||Mr B R W Parker||| |||Bridge Cottage||| |||Appleshaw||| |||Hampshire||| |||SP11 9BH||| - 1 - ## **THE ELIZABETH COLLEGE UK FOUNDATION TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR FROM 01 SEPTEMBER 2021 TO 31 AUGUST 2022** The Trustees present their report for the year ended 31 August 2021. The Elizabeth College Foundation (the "Trust") was created by a Declaration of Trust on 4 May 2007 with initial settled funds of £100. ## **Structure, Governance and Management** The Trustees have the power to appoint new or additional Trustees of the Trust. No Trustee shall be entitled to receive remuneration in respect of his or her activities as a Trustee of the Trust. The Trustees have appointed a Foundation Director to manage the day to day administration of the Trust. The Foundation Director is also a Trustee of the Elizabeth College UK Foundation. The Trust is associated with The Elizabeth College Foundation which operates in Guernsey. ## **Statement of Trustees' Responsibilities** The Trustees are responsible for preparing accounts in accordance with the Trust Deed and the obligations of the Charities Act 2022. They have opted to prepare a receipts and payments account under the provisions of section 133 of the Charities Act 2022. The Trustees are responsible for keeping proper books and records which disclose with reasonable accuracy the financial position of the Trust. The Trustees are responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Independent Examination** The Trustees consider that an audit is not required for this year (under Section 144 of the Charities Act 2022 (the Charities Act)) but have appointed an Honorary Examiner, Jeff Wilkes Green, to undertake an independent examination of these accounts on their behalf under Section 145 of the Charities Act. ## **Objects and Aims of the Trust** The Trust was reated to hold capital and income upon trust and distribute it for the objects of the Trust, namely: the advancement of the education of the pupils of the educational establishment known as Elizabeth College, Guernsey, Elizabeth College Junior School, and Elizabeth College Pre-School, ('the Schools') by providing or assisting in the provision, maintenance and improvement of buildings, resources, equipment and facilities for the benefit of pupils of the schools, including sporting and recreational facilities: and the provision of grants, bursaries and scholarships to present and former pupils of the Schools to assist in the advancement of their education. ## **Grant Making Policy** The Trustees work closely with the Trustees of the Elizabeth College Foundation in Guernsey and work in support of that body. Policy on Reserves The Trustees treat any donations or bequests with special conditions in accordance with the terms of the donor. To date there have been no donations or grants with any such special conditions. ## **Achievements and Performance** The Trust was launched in May 2007 and, in conjunction with the Guernsey based Elizabeth College Foundation, has run three fundraising appeals: in 2007, 2012 {450th Anniversary Appeal) and the Chance of a Lifetime Appeal launched in 2019. The Appeals have raised funds through direct fund raising for a programme of developments which have been recommended by the Board of Directors of the Schools. The 2007 Appeal raised sufficient funds from donations received to complete all of the planned development projects, including the refurbishment of the Sixth Form Centre (2007), a new all-weather play area at Beechwood (2007), a library/music room at Acorn House (2008) and the Robin Roussel Pavilion at the Memorial Field (2009). Funds generated by donations to the 450th Anniversary Appeal, plus residuary funds from the 2007 Appeal, have paid for: the FG Manchester Refectory (2013), the Performing Arts Studio (2013), a new Reception classroom at Acorn House (2013), an extension to and full reconfiguration of the Mathematics block (2014), redevelopment of the Hard Court Recreational Area (2015). internal refurbishment of the historic College Field Pavilion (2015), the provision of new Fencing scoring equipment in the Sports Hall (2015) and the digitisation of the College's archives thanks to a legacy from OE Roy Honey (2017). The Elizabeth College Foundation and conjunction with the Elizabeth College UK Foundation also funded a 4 year project (2016-2019) to refurbish the College science laboratories. The Chance of a Lifetime Appeal was initiated in 2018 and formally launched in early 2019 with the twin objectives of: the purchase and initial conversion of the building adjacent to the College formerly occupied by the Royal Bank of Canada and now renamed Perrot Court. the establishment of an investment fund to support the Foundation Bursary Scheme, to maintain the College's diversity of intake following the demise of the Special Place Holder scheme which was ended by the States of Guernsey in 2018. The Elizabeth College Foundation is the residuary beneficiary of a very substantial Legacy left by the Late Roger Perrot who died 3 March 2019. The success of the Chance of a Lifetime Appeal combined with the Perrot legacy has meant that the Foundation was able to grant the funds to enable the College to purchase of the former RBC building which was renamed Perrot Court on 8 October 2020. Work commenced converting the building to educational use in summer 2021. The UK Foundation made a grant of £69,202 in respect of initial refurbishment works at Perrot Court. This was supplemented by a grant from the Elizabeth College Foundation of £655,798 giving a total grant of £725,000. In addition funds raised have enabled the Foundation to establish the Foundation Bursary Scheme. This offers up to 5 x 100% means tested bursaries a year at entry into Year 7, plus an additional up to 3 x 100% bursaries for Sixth Form students. The first 8 Foundation Bursary students started at Elizabeth College in September 2021 and the scheme currently supports 16 students. ## **The Trustees declare that they have approved the Trustees' Report above** ## **Signed by one or two trustees on behalf of all the trustees** **----- Start of picture text -----**
Print Name Approval Date
BR W Parker
D A Carruthers
**----- End of picture text -----**
**-2 -** CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of On accounts for tho year ènded THE ELIZABETH COLLEGE UK FOUNDATION Charlly no 1120954 3110812022 Respectlve The charity's irustees are responsible lor the preparation ol the accounts in rg$ponsibilities of accordance with the requlremenls ol the Charities Act 2022 I'the Act l. Iru$teg$ and gxamlnor The charity's Iruslees conslder that an audit is not roquired lor this year under section 144 01 th8 Act and that an Independent 8xarninalign is nggded. It is my responsibility to.. examine the accounts und9r section 145 01 the Charities Act, lo follow the applicable Directions given by the Charity Commlsslon lundgr 8eclion 14515llbl ol the Act. and lo state whether particular matters have come lo my attention Baslg of Indepèndent My examination w05 C8rried out In accordance with general Dlrectlons given by the ex*mlnor's 8talemont Charity Cornmission. An examination includes a review ol the accounllng records kept by the charity and a cornparison ol the accounts presented with those records. 11 also includes consideration ol any unusual itoms or di5closure5 in the aceounts, and sèeking explanations from the Iruslees concerning any such mallers. The pro¢edure$ undertaken do not provide all the evbdence that would be required in an audit, and consequently no opinion is given as lo whethgr the accounts present 8 'true and lair, view and the r&port is Ilmited lo those rratters sel out in the slalemenl below. Independent examln•r'$ In Connection with my examination, no materlal matters have come lo my allgnlion stal•m•nt which giv¢$ me ¢au$e 10 bell&ve that in, any materlal respect.. accounting records werg not kgpl in a¢¢ordan¢g with section 130 01 the Charities Act or the accounts do not accord with the accounilng records I have no concerns and have come acro88 no other matters Sn connectlon wllh tho examination to which attention should bè drawn in order to enable a proper understanding ol the accounts to be reached. Please delete the words in Ihe brackels il th8y do noi 8ppIy. Slgngd: Dale.. /g2 &zl Namè: Jeff Wilkes Green Relevant profegslonal qualificalionlsl or body: Fccfl ￿ I i- Addro$$: Thornhill, ue otelle. t Martin's. uern5ey Section B Disclosure Only complete il the examiner needs to highlight matters ol concern Isee CC32, Independent exatninalion ol charity a¢¢ounts.' directions and guidance lor examiners). Glve he￿ brlef detalls ol ony Items thot the examlner wl$he$ to dl$¢lo$e. CC18a IER May 2018 |**CC16a**|**THE ELIZABETH COLLEGE UK FOUNDATION**
**Charity Name**|**THE ELIZABETH COLLEGE UK FOUNDATION**
**Charity Name**|**THE ELIZABETH COLLEGE UK FOUNDATION**
**Charity Name**|**No (if any)**
**1120954**| |---|---|---|---|---| ||**Receipts andpayments accounts**|||| ||**For the period from**|Period start date
**01-Sep-21**|**To**|Period end date
**31-Aug-22**| ## **Section A Receipts and payments** **Restricted Endowment Unrestricted Total funds Last year funds funds** ## **funds** **to the nearest to the nearest £ to the nearest £ to the nearest £ to the nearest £ £** ## **A1 Receipts** |Donations 2019 Appeal|**32,629**|**32,629**|**32,629**|**32,629**|**32,629**|**32,629**|**32,629**|**32,629**|**32,721**| |---|---|---|---|---|---|---|---|---|---| |Legacy|**-**||||||||**-**| |Gift Aid recoveryfrom HMRC|**8,103**||||||||**6,872**| |**_Sub total_**|**40,732**||||||||**39,593**| |**A2 Asset and investment sales,**
**etc.**
**_Total receipts_**
**A3 Payments**|||||||||| ||**-**||**-**||**-**||**-**||**-**| ||**40,732**
**69,202**
**16,366**
**85,568**||**-**
**-**
**-**
**-**||**-**
**-**
**-**
**-**||**40,732**
**69,202**
**-**
**16,366**
**85,568**
**-**
**85,568**
**(44,836)**||| ||||||||||**39,593**| ||||||||||| |Charitable Expenditure (Note 2)|**69,202**||||||||**-**| |Other expenses|||||||||**148**| |Transfer to Elizabeth College Foundation
Bursary Fund|**16,366**||||||||**32,632**| |**_Sub total_**|**85,568**||||||||**32,780**| |**A4 Asset and investment**
**purchases, etc.**
**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||**-**||**-**||**-**||**-**||**-**| ||**85,568**
**(44,836)**
**-**
**49,423**
**4,587**||**-**
**-**
**-**
**-**||**-**
**-**
**-**
**-**
**-**||||| ||||||||||**32,780**| ||||||||||| ||**(44,836)**||**-**||**-**||**(44,836)**||**6,813**| ||**-**||**-**||**-**||**-**|
|**-**| ||**49,423**||||**-**||**49,423**||**42,610**| ||**4,587**||**-**||**-**||**4,587**||**49,423**| - 4 - CHARITY COMMISSION FOR ENGLAND AND WALES I i..v Tr4ani THE ELIZABETH COLLEGE UK FOUNDATION 1120954 Receipts and ments accounts (cont CC16a For the eriod from 01-Sep-21 To 31-Aug-22 Section B Statemenl of assets and liabilities at the end of the period Unr¢strl¢ted Restricted tunds tunds tts ne8re$t £ to nearesl £ Endowmoni funds to nearest £ Total this year io ngarest £ Total last year lo nearest £ CategorSes Detolls 81 Cash tunds Lloyd5 Bank 4.587 4,587 6,045 HS8C IGuernseyl 43.378 Total c89h lunds 4,587 4,587 49,423 180ree balan￿$ wllh rK•lWi p4ymllfilE arycunll811 UnroStrl¢tèd Restricted Endowmont Total th18 lund$ lund8 tunds year to n•ar•#i £ to nearogt £ to noarost £ Total last ygar to near8¥t t Detalls lo n¢ar8st £ B2 Other monetary assets io whlch •$•et b&lon Curr•nt valu• Detalls Colt loptlon•ll Total thls yvllr Totol l•$1 ￿•r B3 Investrnent a$$et8 Fund io whl¢h ••Mt b•lon Curr•ni v#lu• tlonal Dot811s C081 loptlon•ll Tolal th18 yo•r Toill l••1 y•or 84 Assets retalned tor the charlty'g own Use Fund to whlch relale8 Amount due When due Details Totsl th18 ￿r Totll la•1 y••r 85 Llabllltles Signed by one or two trustee5 on behalf of all the trustees nature Print Name roval Dale R W Parker D A Carruthers ## **THE ELIZABETH COLLEGE UK FOUNDATION** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR FROM 01-Sep-21 TO 31-Aug-22** ## **1. Accounting policies** ## **1.1 Accounting Convention** The accounts have been prepared on a receipts and payments basis in accordance with the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities" (issued January 2015) as they apply to smaller Charities. ## **1.2 Gift Aid** A number of donations have been received under gift aid. Gift aid refunds are accounted for on receipt. ## **2. Donations** £16,366 was received as donations towards the Chance of a Lifetime Appeal and designated for the purpose of the Bursary Fund only. ## **3. Transfer to Bursary Fund** The £16,366 of donations designated for the purpose of the Bursary Fund funds have been transferred to the Elizabeth College Foundation to be included within the Bursary Fund Investment Portfolio. ## **4. Charitable Payments** All charitable payments are made to Elizabeth College, Guernsey in compliance with the Trust Deed. |Deed.||| |---|---|---| |**Name of institution**|**Purpose**|**Grant £**| |Elizabeth College|Refurbishment of Perrot Court|69,202| |||| |**Totalgrants**||**69,202**
| ## **Note** The success of the Chance of a Lifetime Appeal combined with the Perrot legacy has meant that the Foundation was able to grant the funds to enable the College to purchase of the former RBC building which was renamed Perrot Court on 8 October 2020. Work commenced converting the building to educational use in summer 2021. The UK Foundation made a grant of £69,202 in respect of initial refurbishment works at Perrot Court. This was supplemented by a grant from the Elizabeth College Foundation of £655,798 giving a total grant of £725,000. ## **5. Governance and office costs** Governance and office costs have been met by Elizabeth College in the period. - 6 -