Charity Registration No. 1138332
Company Registration No. 07293540 (England and Wales)
THE JOHN BADLEY FOUNDATION
(A company limited by guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE JOHN BADLEY FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | R D L Lushington | |
|---|---|---|
| C J Campbell | ||
| A V Land | ||
| E A H Allman | ||
| W Goldsmith | ||
| J C Moore | ||
| A Boheim | (Appointed 2 September 2024) | |
| R B Lewis | (Appointed 5 December 2024) | |
| Secretary & Treasurer | R D L Lushington | |
| Charity number | 1138332 | |
| Company number | 07293540 | |
| Registered office | Bedales School | |
| Church Road | ||
| Steep | ||
| Petersfield | ||
| Hampshire | ||
| United Kingdom | ||
| GU32 2DG | ||
| Auditor | Azets Audit Services Limited | |
| Ashcombe Court | ||
| Woolsack Way | ||
| Godalming | ||
| Surrey | ||
| United Kingdom | ||
| GU7 1LQ | ||
| Bankers | National Westminster Bank | |
| 77 High Street | ||
| Godalming | ||
| Surrey | ||
| GU7 1AR | ||
| Solicitors | Veale Wasborough Vizards | |
| Orchard Court | ||
| Orchard Lane | ||
| Bristol | ||
| BS1 4WS | ||
| Investment managers | Rathbones | |
| 30 Gresham Street | ||
| London | ||
| EC2V 7QN |
THE JOHN BADLEY FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent auditor's report | 4 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 16 |
THE JOHN BADLEY FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025
The trustees (who are directors for the purposes of company law), present their report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Structure, governance and management
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
R D L Lushington C J Campbell A V Land E A H Allman J M Hanson (Resigned 5 December 2024) W Goldsmith J C Moore A Boheim (Appointed 2 September 2024) R B Lewis (Appointed 5 December 2024)
Recruitment and appointment of trustees
Existing trustees identify new trustees and one to one induction takes place with the Chair or Secretary. Selective reading material is provided to all trustees as required.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Objectives and activities
The objects of the charity as stated in its Articles of Association are, for the public benefit, to advance the education of the pupils at Bedales School ("the School") through all lawful means including (but not limited to):
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providing and assisting in the provision of facilities for the School and enabling access to, and use of, those facilities by the local community;
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providing a fund which will support existing pupils at the School who are in financial need;
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enabling children to attend the School who would not otherwise have been so able through the provision of scholarships, exhibitions, bursaries, maintenance allowances or other grants; and
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such other purposes as are incidental to, and other activities in connection with, the objects set out above.
In previous years the focus was primarily on raising funds to enable grants to the School towards the cost of Bursaries. At their meeting in December 2024, the Trustees agreed to focus on all elements of the objects such that funds would be raised to enable grants to the School for capital projects and towards the bursary funds of the School.
Fundraising activity is strong and developing, but is concentrated on: major donors, legacies, regular giving,
trusts, awareness raising and targeted campaigns.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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THE JOHN BADLEY FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Achievements and performance
Since launching in 2010, the John Badley Foundation (JBF) has helped the School to transform the lives of many individuals who have joined it from difficult home or school situations in both the UK and from countries abroad, including those escaping from armed conflict. With thanks to the supporters of JBF, the funds raised have either been invested, as set out in this report, or granted directly to the School so that it may provide bursary awards, build and improve facilities or to assist it with certain salary and other costs.
The trustees are proud that through their financial stewardship, grants have been made to the School to help enable seventeen students to have fully funded places. Of these, five are children of Ukrainian families displaced by the war.
Beneficiaries of fully funded places at Bedales are currently studying at the Universities of Oxford, Reading, UCL and Durham and others have graduated and are working in the arts and software engineering. One of the former beneficiaries is now a JBF trustee.
During the year, the JBF made a grant of £324,507 towards the cost of bursaries provided by the School. In addition the JBF made a grant to the School of £300,000 towards the refurbishment of the Sports Hall; a project that would not have been possible without the help of the JBF. Further, the trustees agreed to support a grant of £150,000 towards the cost of the development of the new recording studio, a project due to be completed by the end of March 2026. Lastly, the JBF has granted funds on an ongoing basis to the School to further fundraising activity each year with the aim of raising more income to support its objects.
Financial Review
Incoming resources for the year were £487,090 (2024: £2,528,038). Resources expended were £691,762 (2024: £327,302) and included donations to Bedales School of £624,507 (2024: £301,436). Total gains on investment revaluations and foreign currency were £172,683 (2024: 138,473).
Policy on reserves
At 31 August 2025 the total reserves of the Trust were £3,866,031 (2024: £3,898,020) of which £1,669,267 (2024: £1,605,687) were restricted, mainly being the JBF Bursary fund which the Trustees intend to continue to increase in order to fund more bursaries. Unrestricted funds are being accumulated to support the School's capital development.
Investment policy and objectives
The trustees are empowered to invest any monies as they, in their absolute discretion, think fit. The Trustees are satisfied with the performance of the investments in the year.
Plans for future periods
The long-term aims are twofold. Firstly, to enable the School to have two fully funded students in every year of the School from Block 1 upwards (i.e. 14 students) and for the JBF to grant to the School an increasing proportion of the cost of these students. Further ahead, the School's aim is to raise the number of fully funded pupils to beyond 20 in line with its ten-year plan. The JBF aims to contribute towards this aim. And secondly, to support a programme of capital developments that will benefit the students at the School now and in the future.
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THE JOHN BADLEY FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Statement of trustees' responsibilities
The trustees, who are also the directors of The John Badley Foundation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial 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, including the income and expenditure, of the charity for that year.
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;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 operation.
The trustees are responsible for keeping adequate 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Auditor
In accordance with the company's articles, a resolution proposing that Azets Audit Services Limited be reappointed as auditor of the charity will be put at a General Meeting.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees' report was approved by the Board of Trustees.
..............................
R D L Lushington
Trustee
Dated: 12th March 2026
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THE JOHN BADLEY FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE JOHN BADLEY FOUNDATION
Opinion
We have audited the financial statements of The John Badley Foundation (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
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THE JOHN BADLEY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JOHN BADLEY FOUNDATION
Responsibilities of trustees
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
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Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
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Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
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Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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THE JOHN BADLEY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JOHN BADLEY FOUNDATION
Other matters
The balances corresponding to the previous period are unaudited.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Alex Temlett CA ACA CTA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Limited
17 March 2026
.........................
Chartered Accountants Statutory Auditor
Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ
Azets Audit Services Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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THE JOHN BADLEY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025
| Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 271,686 126,343 Investment income - 89,061 Total income 271,686 215,404 Expenditure on: Raising funds 2 19,704 - Charitable activities 3 347,551 324,507 Total resources expended 367,255 324,507 Net gains/(losses) on investments - 172,683 Net (outgoing)/incoming resources (95,569) 63,580 Other recognised gains and losses Foreign currency losses - - Net movement in funds (95,569) 63,580 Fund balances at 1 September 2024 2,292,333 1,605,687 Fund balances at 31 August 2025 2,196,764 1,669,267 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 398,029 2,233,250 246,275 89,061 - 48,513 487,090 2,233,250 294,788 19,704 - 8,489 672,058 5,010 313,803 691,762 5,010 322,292 172,683 - 145,220 (31,989) 2,228,240 117,716 - - (6,747) (31,989) 2,228,240 110,969 3,898,020 64,093 1,494,718 3,866,031 2,292,333 1,605,687 |
Total 2024 £ 2,479,525 48,513 2,528,038 8,489 318,813 327,302 145,220 2,345,956 (6,747) 2,339,209 1,558,811 3,898,020 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE JOHN BADLEY FOUNDATION
BALANCE SHEET
AS AT 31 AUGUST 2025
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Investments | 8 | 3,412,009 | 1,476,630 | ||||
| Current assets | |||||||
| Debtors | 9 | 10,052 | 8,569 | ||||
| Cash at bank and in hand | 449,802 | 2,418,371 | |||||
| 459,854 | 2,426,940 | ||||||
| Creditors: amounts falling due within | |||||||
| one year | 10 | (5,832) | (5,550) | ||||
| Net current assets | 454,022 | 2,421,390 | |||||
| Total assets less current liabilities | 3,866,031 | 3,898,020 | |||||
| Income funds | |||||||
| Restricted funds | 13 | 1,669,267 | 1,605,687 | ||||
| Unrestricted funds | |||||||
| General | 12 | 2,196,764 | 2,292,333 | ||||
| 2,196,764 | 2,292,333 | ||||||
| 3,866,031 | 3,898,020 |
An audit has been carried out under section 144 of the Charities Act 2011, although the charity is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the charity to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 12th March 2026.
..............................
R D L Lushington Trustee
Company Registration No. 07293540
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
Charity information
The charity is a company limited by guarantee and incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £NiI towards the assets of the charity in the event of liquidation.
The address of its registered office is: Bedales School Church Road Steep Petersfield Hampshire GU32 2DG
1.1 Summary of significant accounting policies and key estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
1.2 Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
1.3 Basis of preparation
The John Badley Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Figures are presented in pounds sterling (GBP £) and rounded to the nearest pound.
1.4 Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
The trustees have paid particular attention to possible challenges that might hit the independent school sector in the next few years and remain confident that the charity has sufficient resources to continue as a going concern for the foreseeable future.
1.5 Exemption from preparing a cash flow statement
The charity qualifies as a small charity under the Charities SORP and has therefore not included a cash flow statement in these financial statements.
1.6 Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
(Continued)
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that the conditions will be fulfilled in the reporting period.
Investment income
Dividend income on equity investments and interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon the dividend being declared and notification being received of the dividend due or upon notification of the interest paid or payable by the bank.
1.7 Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
1.8 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
1.9 Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their initial cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
1.10 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
(Continued)
1.11 Fund structure
Unrestricted funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
1.12 Financial instruments
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
1.13 Significant judgements and estimates
No significant judgements or estimates have had any material impact on the amounts recognised in the preparation of these financial statements.
2 Raising funds
| Unrestricted | Restricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Investment management fees | 19,704 | 8,489 |
| 19,704 | 8,489 |
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
3 Charitable activities
| Unrestricted funds Restricted funds Total 2025 Unrestricted funds Restricted funds 2025 2025 2024 2024 £ £ £ £ £ Bursary donations to Bedales School - 324,507 324,507 - 301,436 Capital project donation 300,000 - 300,000 - - Contributions to Bedales School salary costs 41,576 - 41,576 - 11,185 Other 107 - 107 - 1,182 Auditor's remuneration 5,868 - 5,868 5,010 - 347,551 324,507 672,058 5,010 313,803 4 Net movement in funds 2025 £ The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements 5,868 |
Total 2024 £ 301,436 - 11,185 1,182 5,010 |
|---|---|
| 318,813 2024 £ 5,010 |
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
6 Employees
There were no employees during the year (2024: Nil).
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Fixed asset investments
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
| 8 Fixed asset investments Cost or valuation At 1 September 2024 Additions Revaluations Disposals At 31 August 2025 Carrying amount At 31 August 2025 At 31 August 2024 9 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Accruals and deferred income 11 Analysis of net assets between funds Unrestricted funds Restricted funds 2025 2025 £ £ Fund balances at 31 August 2025 are represented by: Investments 1,742,742 1,669,267 Net current assets 454,022 - 2,196,764 1,669,267 |
Total Unrestricted funds 2025 2024 £ £ 3,412,009 - 454,022 2,292,333 3,866,031 2,292,333 |
(Continued) Investments £ 1,476,630 2,310,240 173,412 (548,273) 3,412,009 3,412,009 1,476,630 2025 2024 £ £ - 566 10,052 8,003 10,052 8,569 2025 2024 £ £ 5,832 5,550 Restricted funds Total 2024 2024 £ £ 1,476,630 1,476,630 129,057 2,421,390 1,605,687 3,898,020 |
|---|---|---|
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
12 Unrestricted funds
| Balance at 1 September 2023 £ General 64,093 64,093 |
Movement in funds Incoming resources Resources expended Balance at 1 September 2024 £ £ £ 2,233,250 (5,010) 2,292,333 2,233,250 (5,010) 2,292,333 |
Movement in funds Incoming resources Resources expended £ £ 271,686 (367,255) 271,686 (367,255) |
Balance at 31 August 2025 £ 2,196,764 |
|---|---|---|---|
| 2,196,764 |
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
13 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Balance at 1 September 2023 £ JBF Bursaries 1,492,598 Music School 2,120 1,494,718 |
Movement in funds Incoming resources Resources expended Gains and losses Balance at 1 September 2024 £ £ £ £ 294,788 (322,292) 138,473 1,603,567 - - - 2,120 294,788 (322,292) 138,473 1,605,687 |
Movement in funds Incoming resources Resources expended Gains and losses £ £ £ 215,404 (324,507) 172,683 - - - 215,404 (324,507) 172,683 |
Balance at 31 August 2025 £ 1,667,147 2,120 |
|---|---|---|---|
| 1,669,267 |
The specific purposes for which the funds are to be applied are as follows:
The JBF Bursaries Fund represents donations received towards the funding of Bursaries for students at Bedales School.
The Music School Project Fund represents donations received for improvements to the Music School building.
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THE JOHN BADLEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
14 Related party transactions
The Trust was set up to support and promote the activities of Bedales School, charity number 307332.
During the year the Trust contributed £624,507 (2024: £301,436) towards bursaries and facilities improvements at Bedales School. Additionally, the Trust contributed £41,576 (2024: £11,185) towards salary costs of Bedales School.
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