DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Company Registration No. 07493784 (England and Wales) Charlty Reglstratlon No. 1142320 Report of the Trustees and Financial Statements forthe year ended 31 January 2022 for Old Warwickian Trust (A Company Limited by Guarantee)
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Contents of the Financial Statements Forthe year ended 31 January 2022 Report ofthe Trustees Page 2 Independent Examiner's Reportto the Trustees Page 7 Statement of Fi nancial Activities Page 8 Balance Sheet Page 9 Notes to the Financial Statements Page 11
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Reportof the Trustees Fortheyearended 31 January 2022 The trustees who are also directors of the charity, presenttheir report with the financial statements of the charity for the year ended 31 January 2022 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the CharitiesAct2011 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 published in October 2019. REFERENCEANDADMINISTRATIVE DETAILS Registered Company number 07493784 (England and Wales) Registered Charity number 1142320 Principal Address and Registered Office Edmund House Rugby Road Leamington Spa Warwickshire CV32 6EL Trustees MrJ S Barker Mr J S Button (Resigned 6th September 20211 MrSWHain Mrc R N Heaton Mr J C Meredith (Resigned 6"September 20211 MrN J Robinson Mr D B Stevens Mr R H Thornton (Resigned 6, September 20211 Mrc Pwillford MrA F Keeling (Appointed on 6" September 20211 Mr K P Mitchell (Appointed on 6" September 20211 Mrs M C Tubb IAppointed on 6" September20211 Solicitors Blythe Liggins Edmund House Rugby Road Leamington Spa Warwickshire CV32 6EL
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Report of the Trustees Icontinuedl Fortheyearended 31 January2022 Independent Examiners Charlotte Toemaes Bsc FCA Ellacotts LLP Chartered Accountants & StatutoryAuditors 23 West Bar Street Banbury Oxfordshire OX16 9SA Bankers Lloyds Bank plc, 73 The Parade Leamington Spa CV32 4BB stockbrokers and investment advisors EFG Harris Allday, 33 Great Charles Street, Birmingham B33JN
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Report of the Trustees Icontinuedl Forthe yearended 31 January2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a charitable company limited by guarantee, incorporated on 14 January 2011 and registered as a charity on 8 June 2011. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. Appointment of new trustees New trustees are elected to the board by majority vote of existing trustees. Trustee induction and training Potential new trustees meet other trustees prior to appointment. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Organisational structure The board of trustees administers the charity. The board meets a minimum of every twelve months and in the interim is managed by sub-committees comprising trustees. Risk management The trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. OBJECTIVES AND ACTIVITIES The objectives of the charity are.. The advancement of education by the provision of grants for capital projects at Warwick School. To provide scholarships and bursaries to pupils and potential pupils of Warwick School so that more pupils benefit from education at Wanmick School irrespective of their families, ability to pay fees. The main objectives and activities for the year were to focus upon the above. To assist the charity to meet these objectives. the management of investments is placed in the hands of a professional advisor to maximise a mixture of growth and return. ACHIEVEMENT AND PERFORMANCE Provision of bursaries During the year under review the charity granted bursaries of £55,199. The trustees are mindful of the income generated by the trust now and projected and have agreed additional bursaries in the medium term. The Trust investment5 showed an increase in value during the year. but the trustee5 are mindful that investment values fluctuate, and accept regular advice from the investment advisors to protect the value and income as far as is possible.
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Report of the Trustees {continued) Fortheyearended 31 January2022 FINANCIAL REVIEW Reserves policy The trustees have examined the charity's requirements for resetves in the light of the main risks to the organisation. In theirview the company has adequate but not excessive reserves to meet its obligations as they fall due. The level of reserves held at the end of the year was £1,534,162 and full details are included in note 9 to the financial statements. Principal funding sources The large majority of funding during the year arose from rents receivable and dividends on investments. Investment policy The policy is for growth and an income return with moderate risk to maximise that growth and income. PUBLIC BENEFIT STATEMENT This report sets out the objectives of the charity and which are considered for the future. The award of bursaries is to enable boys to attend Warwick School without restriction to people from whatever means. In preparing the report, the trustees confirm that they have referred to the Charity Commission guidance on public benefit. PLANS FOR FUTURE PERIODS The charity will continue as present and take full advantage of income from investments and rent to achieve its objectives in granting bursaries. OVERVIEW OFTHE PERIOD For the year 2021122 the Trustees are satisfied that the objects of the charity have been achieved with a commitment to funding bursaries within the criteria with additional amounts being considered for 2022123. STATEMENT OFTRUSTEES, RESPONSIBILITIES The trustees Iwho are also directors of Old Warwickian Trust for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires thetrusteesto prepare financial statements foreach financial year. Undercompany law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, includingthe income and expenditure. ofthe charitable company forthat period. In preparingthese financial statements, the trustees are required to..
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Warwickian Trust Report of the Trustees Icontinuedl Forthe yearended 31 January 2022 select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 IFRS 1021. makejudgements and estimates that are reasonable and prudent. state whether applicable UK 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 charitable company 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 charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. INDEPENDENT EXAMINER The independent examiner, Charlotte Toemaes Bsc FCA of Ellacotts LLP, will be proposed for re- appointment. ON BEHALF OFTHE BOARD: Dwu51gned by". C R N Heaton-Trustee C P Willford - Trustee 17 October 2022 Date:
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Warwickian Trust Independent Examiners Report to the Trustees Fortheyear ended 31 January2022 I report on the financial statements for the year ended 31 January 2022 set out on pages 8 to 16. Responsibilities and basis of report The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independentexaminer'sstatement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. Accounting records were not kept in respect of the company as required by section 386 of the 2006 2. The accounts do not accord with those records. or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thatthe accounts give a 'true and fair view, which is not a matter considered as part of an independent examination- or 4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities 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 Ljnderstanding of the accounts to be reached. CharlotteToemaes Bsc FCA Ellacotts LLP Chartered Accountants & StatutoryAuditors Countrywide House 23 West Bar Street Banbury Oxfordshire OX16 9SA Date.. 17110122
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust statement of Financial Activities land Income and Expenditure Account) Fortheyear ended 31 January2022 2022 Total funds 2021 Total funds Unrestricted funds Restricted funds Notes INCOMING RESOURCES Incomingresources from generated funds Donations and gifts Investment income Insurance premium recoverable 1,079 71,345 3,789 1,079 71,345 3,789 69,111 3,981 Total incoming resources 76.213 76,213 73,092 RESOURCES EXPENDED Charitable activities 163,8811 163,8811 161,7931 Total resources expended 163,8811 163,8811 161,7931 NET GAINSIILOSSESI ON INVESTMENTS Increasel Idecreasel in value of investments 48,416 48,416 119,5281 NET INCOMING RESOURCESAND NET MOVEMENT IN FUNDS FOR THE PERIOD 60,748 60,748 18,2291 RECONCILIATION OF FUNDS Total funds brought forward 1,473,414 1,473,414 1,481,643 TOTAL FUNDS CARRIED FORWARD 1,534,162 1.534,162 1.473,414
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Balance Sheet At 31 January 2022 2022 Total Funds 2021 Total Funds Unrestricted Restricted funds funds Notes FIXEDASSETS Investments 1,381,030 1,381,030 1,387,750 1,381,030 1,381,030 1,387,750 CURRENT ASSETS Debtors Cash at bank and in hand 47,033 107,864 47,033 107,864 20,648 69,171 154,897 154.897 89,819 CREDITORS Amounts falling due within one year 11,7651 11,7651 14,1551 NET CURRENT ASSETS 153,132 153,132 85,664 TOTAL ASSETS LESS CURRENT LIABILITIES 1,534,162 1,534,162 1,473,414 FUNDS Unrestricted funds Restricted funds 1,534,162 1,473,414 TOTAL FUNDS 1,534,162 1,473,414 For the year ended 31 January 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476,. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies, regime of the Companies Act 2006.
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Warwickian Trust Balance Sheet {continued) At31 January 2022 The financial statements were approved by the Board of Trustees on signed on its behalf by: 17 October 2022 and were DwuS1gned by". tknusrynpd by C R N Heaton -Trustee C P Willford - Trustee Company Registration No. 07493784 io
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Notes to the Financial Statements Forthe yearended 31 January 2022 ACCOUNTING POLICIES Charity Inforniation Old WanNickian Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is given in the reference and administrative details on page 2. Basis of preparation The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The accounts are prepared in sterling, which is the functional currency of the Old Warwickian Trust. Monetary amounts in these financial statements are rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Incoming resources All incoming resources are included on the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Charitable activities Charitable expenditure comprises those costs incurred by the Charity in the performance of its activities. It includes both costs that can be allocated to such activities and those of an indirect nature necessary to supportthem. Company status The charity is a company limited by guarantee. The members of the company are the trustees named in the report of the trustees. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Fixed asset investments Fixed asset investments are held at market value as at the balance sheet date with movements shown in the SOFA. li
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Notes to the Financial Statements {continued) Fortheyear ended 31 January2022 Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Financial instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Taxation The charity is exempt from corporation tax on its charitable activities. DONATIONSAND GIFTS 2022 2021 Gift of cash 1,079 In 2022, the total of £1,07912021- £nill was attributable to unrestricted funds. INVESTMENT INCOME 2022 2021 Dividend5 and interest received Rents 31,345 40,000 39,111 30,000 71,345 69,111 In 2022, the total of £71.34512021.. £69,111) was attributable to unrestricted funds. 12
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Notes to the Financial Statements {continued) Forthe yearended 31 January2022 RESOURCES EXPENDED Unrestricted funds Restricted funds Total 2022 Total 2021 Direct charitable expenditure Bursaries awarded Investment management charges Insurance premium payable (including survey feel Bank charges 55,199 3,254 3,789 55,199 3,254 3,789 53,360 2,778 3,981 15 62,242 62,242 60,134 Governance Costs Independent Examiner's fees 1,639 1,639 1,659 Total resources expended 63,881 63,881 61,793 In 2022, the total resources expended amount of £63.881 12021.. £61,793) wa5 charged to unrestricted funds. TRUSTEES, REMUNERATION AND BENEFITS The trustees neither received nor waived any emoluments during the year12021.. £nill. FIXED ASSET INVESTMENTS 2022 2021 Property Investments 489.397 891,633 1,381,030 489,397 898,353 1,387,750 Freehold properties held to provide a return.. UK Valuation as at 31 January 2022 489,397 Market value as at 31 January 2022 489,397 Investments: Property Valuation brought forward 489.397 489,397 Valuation carried forward Notes tothe Financialstatements {continued) 13
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Forthe yearended 31 January2022 FIXEDASSET INVESTMENTS {Cont'd) 2022 2021 Historical cost of property 52,041 52,041 Investments Valuation brought fonNard Additions Disposals Increase in market value 898.353 80,553 1135,6891 48,416 Valuation carried forward 891,633 7. DEBTORS: AMOUNTS FALLING DUEWITHIN ONEYEAR 2022 2021 Prepayments and accrued income 47,033 47,033 20,648 20,648 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 2022 2021 Trade creditors, accruals and deferred income 1,765 4,155 1,765 4,155 Notes to the Financial Statements {continued) 14
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Fortheyear ended 31 January2022 9. MOVEMENT IN FUNDS At l February Net movement in At 31 January 2021 funds 2022 Unrestricted funds General fund 1,473,414 60,748 1,534,162 TOTAL FUNDS 1,473,414 60,748 1,534,162 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gainsand Ilossesl Movement in funds Unrestricted funds General fund 76,213 163,8811 48,416 60,748 TOTAL FUNDS 76,213 163,8811 48,416 60,748 The General Fund represents the free funds which have not been designated for particular purposes. 10.ULTIMATE CONTROLLING PARTY The Trustees have overall control of the Charitable Company. 11. RELATED PARTYTRANSACTIONS During the year, members of The Old Wanwickian Association gifted £1,079 to Old Warwickian Trust12021.. £nill. Trustees Mr J S Button Iresigned 6, September 20211. and Mr D B Stevens were committee members of The Association. 15
DoGuSvJn Envelope ID." 2958D42fkB0754BE8-85DA-C82B05EFF142 Old Wanvickian Trust Notes to the Financial Statements {continuedl Fortheyearended 31 January2022 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Fund Restricted Fund Total 2022 Fixed asset investments Current assets Current liabilities 1,381.030 154,897 11,7651 1,381,030 154,897 11,7651 TOTAL FUNDS 1,534,162 1,534,162 Unrestricted Fund Restricted Fund Total 2021 Fixed asset investments Current assets Current liabilities 1,387,750 89,819 14,1551 1,387,750 89,819 14,1551 TOTAL FUNDS 1,473,414 1,473,414 The unrestricted funds of the charity may be applied in accordance with the Charity's Memorandum of Association and in furtherance of its charitable objects. 16