The Calne Foundation Trust (a company limited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 August 2023 RegiSledCpThy Nurnbcr. 08149(M6 R¢g¢steTEd CJJHrity Nwmber.. 1147327
The Calne Foundation Trust REPORTS AND FtNANCIAL STATEMENrs for the year ended 31 Au ust 2023 CONfENTS PAGE Trust¢¢4 officers and advisers Annual Report of the TtUses Independent All0S Report Stslement of financial activities (inc]udirtg income expenditure account} Balant£ sheet io Stamentof ea5h flows Notes to the finaacial si*emenrs 12-20
The Calne Foundation Trust TRUSTEES, OFFICERS AND ADVISERS for the ear ended 31 Au ust 2023 TRUSTEES AND DIRECTORS The tnemb¢rs of the Board of TTUSt¢¢s listed below are, for th¢ purposes of company IN, directors of the Foundation and. for the putpos¢$ of charity law, trtse$ of the Foundatron. AII TNstees. unless otherwis¢ stated, servcd thToughout th¢ year and. at the date of Signing this report ar¢.. Mrs Cate Bell (Chairp¢rson) Ms Joanne Avery {resi8ned 21 M8r¢h 20231 Mr Andrew Aylwin Mr Michael Bucher {appoint¢d 21 March 2023) Mrs Candidade Silva (appointed 2 December20221 Mrs D¢borah Wakeham Ms Nicolo Jam¢s Mr5 Wi¢trJria Wilson Trus*¢ MeetEn are also att¢nded by the Foundation's Patron, Lady L9nsdowne, ?ThJ by the followiThg Sthol s¢oior 51aff.. Dr F M Kirk- Headmistress. St M8ry'$ Caine {reS]ed 31 August 2023) Mrs D Harrison. A¢tsng Head, St Mary's Cakne {appoÉntcd I September 20231 fr L Bromwi¢h-Hc3dmaster, St Margarct'5 Pr¢paratory School Mr D J Bosw¢ll- Bursar and Cl¢rk io the Governors IT¢sigDed 31 MaT¢h 2023) Mr E Hellings- Interim Bursar and Cl¢rk lo the Governor5 lappDtnted l April 2023) SECRETARY AND CHIEF EXECUTIVE OF THE FOUNDATION Mrs C M Depla RECISTERED OFFICE 63 Cunoo St CaJn¢ Wiltshirc SNI I ODF ADVISERS: AUDJTOR RSM UK Audit LLP Davidson House Forbury Square Reading Berkshire RGI 3EU BANKERS HSBC ajippenham Commercial Centre 2 Market Place Chippenham Wiltshire SN15 3HE SOLiaTOIIS V¢ale Wasbrou8h Vizards LLP Narrow Quay Hous¢ Norrow Quay Bristol BSI 4QA XNVESTMENf ADVISERS James Hwnbm & ParttL¢rs LLP Ryder Court, 14 Ryder Str¢ London SWIY 6QB Re8i#ered CoMpY Nwnber. 08049046 RegiSt¢r¢dCh1ty Numt¢r 1147327
The Calne Foundation Trust AKNUAL REPORT OF THE TRUSTEES for the ear ended 31 Au ust 2023 The Trusteesof the C8ln¢ Foundation Trust presentth¢iT report atld audited finan¢ial sthtem¢nts for the year¢nd¢d 3L August2023 and eonfimTr thatthey comply wiill the Tequirements ofthe Charities Act2011, the Charitie5 SORP IFRS 1021, Ihc Companies Act 2006 and the Memorw)dum and Articles of Asso¢iation of the FoundatLOn. BACKGROUND AND CONsfiTirrioN The Calfte Foundation Trust (CFTI is a charitable twst that exists to support present artd future 8eneration5 of pupils at St Mary's Calne and Si Margaret's Preparatory S¢hool. Itwas ¢stablished in 2012 by Governor4 w¢nts and leadittg membcrs of the Caln¢ Girls. Association ISI Mary's alumnHe, known as the CQA). Th¢ CFT was incorporated on 27tti April 2012 a5 8 charttable ¢omporty r¢gistered with th¢ Charity Commission (Registration Number 1147327). It is governed by its Memorandum and Afticles Of Asso¢iation which wtre Igst pdated on l DEcemb¢r 2017. AIMS AND OBJECTIVES The CFT exists lo ensure continuing investment in the s¢hools' facilities and to provide vital funding for Scholarships. Bursaries and other educational progr3rnme5 beThefiting th¢ pupils of the No sctlcols. The CFT helps th¢ school to realrse their ambitions and make a real difference for 8enerotaons to come. All fvnd5 raiscd are ring ferlccd and k¢pt separate from tnain school fLnaThce and the CFT as a vehi¢l¢ for collectÈng. holdinglinve5tin8, attd dispen$tng sums donated for the benefit of both schools. Trustees eonfimi Ehat th¢y hav¢ had due r¢gftrd to the guidance pvblislL¢d by the Charity Commission in caryinu out the requirement tts provide public benefit and in disclwging their respoThsibiliiies AS TNstees. ORCANISATION AND MANACEMEP4T Th¢Te is an independentbodyof Trusteescompri$ingGovernoTS.old girls of Stmary's andparcnts of both sGhwls. The TnJst¢E5 atc as detailed above they rtleet at least 3 times per year, St Mary's School (C21nel ha5 been delegated responsibility for the operations of The Calne Foundation Trust by the Tw5¢5 but tl)i5 work is not remunerated by the Foundation. Tpjstres are recruited on the b&515 of qualifications, experience and recommendations frtsm IvitlLitL th¢ school community. RISK MANAGEMENT Tru51e¢s are aware of their responsibility to mana8¢ risk. Strategies used to ameliorate And miThimise risk pie: Provision of a cl¢af investment 5trale8y. App)intent of inveslrnent advisor. ConsidentioH of an investmt port ai eh m¢¢ting and m¢¢ting personally with Ihe adviser at least once a year. Proper authorisation of expendityre. Monthly rcp)rts on the managetnentof invested nds, funds held iTh the bank and cash. ANoual audit. ArnvrriES AND FINANCIAL REVIEW The Calne FoundatÉoTh Tn]sth8s had another 5ucttssfvI year. In additioTh lo the rrLor¢ substsntial gifts ond pledges we received, we hove ¢ontinued to irlcrease the number of people who support the work of the Foundation by attending events or making smaller, regular dottations to ourfunds. The Shaping the Future programme contillu¢s to benefjt from the resourc¢s our community contributC5 to the 5choo15 whether in time, ¢onnectiotLS or fuThd5. Two Wellbeing PraGtLtioncrs jotncd the staff of St Mary's School in September 2022 fvnded by a philanthropic donaiion of £77,000 over2 years, which was pledged to coverthe cost andthe flrsl instalmenl of£38.500 has been received. Th¢ Wdlbeing PTrBtitioners offer proactÉve and pre-emptive support lo pupils, including workshop drop-in se55ion5 and 8roup discussions to exptore a r8nge of issues and d¢v¢lop skills. Th¢ Oak Pavilion in ihe Lime Kiln GardeTh. getLerou51y sponsored by a philanthropist, was completed in the Autumn Term of 2022. The pavilion has be¢n in r¢guiAr use this year for events including Samba workshops. Entrance Days aThd Glen Parties. In December, we hosted a sp¢ciJl concert at St Mary Abbots Churth in KeTh5inEton to raise money for ttle CFT and Glass Door l& London-based homeles5 charity). Si Mary's Chamb¢r Choir, and the newly-fornied St Mary's Alumtlae Choir prrforined Benjamin Britten's A Ceremony of Carol& as well &8 fesuv¢ earols, rriusic. and readings. £4JOIJ ratsed. Rc8i51ered Company Number 08049046 Registered Charity Number. 1147327
The Calne Foundation Trust ANNUAL REPORT OF THE TRUSTEES for the ear ended 31 Au ust 2023 LTr January 2023, St Mary's ushwed in a year of 150th aThniv¢rsary celebrntion5. following the foundin6 of the School by Canon John Duncan. Elinor Gabriel and Penelopc Murray in 1873. ce1ebrdtoryyearrnMeced with The Anniv¢tS4ry Ball atthe LandmarkHotel inLondon wherethechrysalis Campaign forttwJ8fonnational bursaTi¢$ was fonnally launched. The event raised ov¢r £108.000. Other events celebrated over tIL¢ anniversary year includcd an AT¢hive Exhibition at ColÈJe Heritag¢ Centr4 th¢ White Hoe Sculpture Exhibiiion, Handel'5 Messiah perfomied atuniversity ChuKh, Oxford, The Head's Lthnch at St Mary's in May, a whole-sch[l picni¢ and walk at Bowood House and many K8ional drinks parties. Cel¢br4tions will Cotrtinue llniil the end of th¢ 2023 calendar year. with a notyble hi8hitght b¢iDg the Service of ThatLksgivin8 and Celebration hcld op i l October at Sa]isbury Cath¢dral. Guests at our Isolh y¢w celebratory events have been encourdged to join the ISO So¢iery, make a lego¢y gift or eat¢ a nartled scholarship. The 150 Sociwoffers differenttiCTsof rnembershipto those suppDrtingth¢ Chryj5 Campaign and w¢ will recogni5e th¢ir generosity in a vaTiery of ways including invitations to evenLs, recognitio th Calne Found&tiotL Trust publicatiotLS amd on 150 BenefactorBo*rd& Th¢ CFf has cOntind to award Enrichment Schol?Tships to Sixth Forn girls for academi¢ or g8p year Putposes. Two pupils on signifi¢ant bursaries were awar(Ird Ef4nts for the OGiob¢r 2023 Scien¢¢ Trip lo Madaga5gr one pupil was aworded a grant to und¢rtAke voluntary work in Kenya. The CFT aims to create a ¢ulture of charity ond philanthropy in siudents from an eaTly age athd a coRditioTh of th¢ Enrichment S¢holatship8 is for re¢ipi¢Dts to rctum and share their experience and inspire otheTS. The CFT Cup wa5 aw&rd¢d by Lady Lansdovmc, our Patrotl, at St Margore¢'$ Prizegiving in July. Thls provided the opportUDity to hkghli8ht thc work of the CFf and the fa¢ili¢i¢s it h&d 5POrtsor¢d which b¢tL¢fii the daily liv¢s of St Margaret's pllpils. Children who had ¢ommitted to &charitable cause were nomirtated and th¢ $tOTiesoftheir Voluntary work and furtdraisin8 were shar¢d with the community. The CFT again provid¢d a laptop fora pup21 on asi8nificant bursary. The Trustees hav¢ 28teed a policy to Sllr4rt pupil$ without * IBPtop who ore in Year 9 IUIV) or above and on 90% or more mcan5-terted bursarie5. Th¢ cFr 2nvestm¢nt prop¢rty (purchased in July 2022 for £302,313) ¢ontinues to be Niied to a sthool teacher. The investment 5its a5 a rcstri¢ted asset withtn the Bursary Fund arld rentsl income i5 ¢lassified a5 inv¢skn¢llt ittcome. Th¢ Trust¢¢s have purchasedas¢cond investrnent property in Calne, which completed on 29th September 2023. During the yedr donations and gift income was £229,415 (2022: £390,342) and tNal incomc was £261,128 (2022.. £405,668). Income frottl investments and bank interest totalled £31,713 (2022.. £I5.326) and investment gains totalled £5,3 1012022.. Ios5e5 of £88 J99). During the year the Foundation made awards. burSleS, scholarships and c4pstal investments amountittg to £138,OL1312022.. £495,576). Net ItOrne Eor the ye2r w05 £128,435 P022.' n¢1 income of £1 11.4771. The exFnses of the Foundatiort are m¢t by the School PLANS FOR THE FUTUR The s¢hools have a ten y¢aT development plth that reqiiw signifi¢ant investment. Th¢ FouthdatÈon plans to rnise funds to support th¢ developmetlt plau and to provid¢ transformational bursaries to enable tlll¢nt¢d children from less advantaged backwiurtds to benefit fiM a Cathe educatiort. RELATED PARTY TRANSAcfLoNS AND CONNECTKD ENTITIES Refer NOte 13. All FollttdatioTh 5a14rics and operati¢)nal wsts were funded by St Mary'5 Srhool (Calnel. RESERVES Ttle purpose of the Foundation is to supportthe two sctlools by r8i$in8 funds forcapitsl projects and buTsari¢s. A5 noted abDV¢, its 0perntion wsts are met by St Mary's School. In addition to the general dis¢r¢tionary fund, various sub funds have beetl se¢up for$pecifLC projerts, foreKJmple. th¢ Amied Forces Fund. the Capitsl Ptoj¢crs Fund and the Bursary Fund. Itl this way the Trust5 can make sure that donations ore applicd for the purpose for which th¢y were given. RewthtedC¢rnpany Number. 081149046 R¢gi51ued CharityNumbcr 1147327
The Calne Foundation Trust ANNUAL REPORT OF THE TRUSTEES for the ear ended 31 Au ust 2023 Aithe year end the endowment furtd is £7.677 (2022.. £7,874), tricted funds are £2,525.Y)4 (2022.. £2,406.348) and unrestricted tunds are £26.111 (2022.. £16,925). INVESTMENf POWERS, POLICY AND PERFORMANCE The Calne Foutldation Trust funds are invesd wilh Jatnes Hambro and Partners. The Investmeni horizorl is long- term artd ttle slratgy is one of capital 8rowth. The risk tolerance 15 medium ¢0 high. Trllstees meet with the Fund Manager annualty 10 review strategy atld perftsrmance. srATEM8NT OF TRUSTEES RESPONSIBILITIFS The Trusiees (who are also directo[5 of the Calne Foundatts)n Trust for the p4Jrposes of company lawl are responsible for preparing the Trllstee's Annual Report arld the financi statements in actordance with applicable law and United Kingdom A¢counting Standards (United Kin8dom Generdlly Accepted Accounting Pra1(). Company law require5 the TNstees lo prepare fjnancial stat¢Jn¢nts for each financial year and give a true and fair view of the state of affairs of the charitable company and of the incoming resouTCeS and application of resources. Including the income and expetlditure. of the charitable company for that year. In preparing these rJnClal Statemenrs. the TrsIteS are teqijired to- s¢leci suitable ac¢ounting poli¢ies aTLd then apply thcm consist¢ntly observe the methods and principles in the Chriti¢s SORP., snake judgements ad estitnatr5 that are reasonable and prttdent,. sta whetherapplicable accounLingstandaTds beeThfollowed, subjectio any material dep8ttures dis¢tosed agjd explained in the financial statements., and prepare the financi8] state5nertts on the goiftg ¢on¢ern basis unless it LS jllappTopriate to prestme that the charitsble cotnpany will continue in busine5S. The TTU5tees are SpOnSIble for keeping proper accounting records that dis¢lose with reasonable accuracy at any time the financial position of the charita61c compally and enable them lo ertstsie that the financial statements comply with the Companies A¢t 2006. They ore also responsible for safegllarding the assets of Ibe charitsble Cotnpany arld henc¢ fortaking r¢gsoThable steps for the prevention of fraud and other ]egUlar1tie$. So far as the Ttustees are aware. at the time thi$ rewrt is approv¢d- There is no relevant audit inforniation of whi¢h the cortLpatLy'5 auditor is unawore, and The Tru5t¢¢s have taken all steps thatthey ought to have token to makethem5elves aware of the relevHnt oudit inforniation and w establish that ihe audiLOT IS twaTe of that infonnation. AUDITOR RSM UK Audit LLP has indicated its willingnes5 to continue in o)Tice. A Tesolution to reappoitit KSM ir(( Audit LLP as the Found¥50n'$ auditor will be tnade at the Atlnual General Meeting. This report has been prepared in accordartee with the provisions awlicable to companies entitled to the small ompanies, exemption. Approved by the Board of Trustee5 On .. . II.Ioz3 - artd sigtled OD theirbehalf by: MRS C BELL Chairperson ofTrn$tccs Registered CompAThy NumLci.' 08049046 Registered Charity NutnbEr. 1147327
The Calne Foundation Trust tNDEPENDENT AUDITOR'S REPORT for the ear ended 31 Au t 2023 Opinlon We have audited the financial statement5 of The Calne Fouttda¢ioD Trust {th¢ 'charilable MpanY') for theyear 31 Au8U5t 2023 which ¢ornprise the Statsment of Financial Activities. the BalADce Sheet. and now to th¢ financial sthtetnents, including significant acwunting poli¢ies. The financial reportitlg framework thllt hHs b¢¢n applied in theirpreparati(Fn is applicable lawand United Kingdom Ac¢ountirbg Stsndards. includittg FRS 102Yhe Financial RepDrting Standard applicable in ttle UK and R¢publi¢ oflreland"{United Kingdotn Generally Acttpted A¢cwntrDE Practi¢o}. In ouropinion th¢ financial statemetLts'. give o true and fair view of th¢ state of the chitable compBny's affaits as at 31 August 2023 andof its in¢omtll8 resource5 and applicatÈon of resour¢¢s, includin8 tts itleome and ¢xpendtture, for th¢ yEarthen hove been ptrjperly prepared in with United Kingdom G¢n¢r3lly AccEPted A¢C[ting Practice: aJ]d h8v¢ been Preped in a¢cord8n¢¢ with th¢ r¢qviremeThts of the Compani¢s Act 2006. BA515 for opinton We Conduct ouraudit in accordance with Intern?tional Stsodards on Auditing (UK) USAS (UK)) and appiicobl¢ law. Our re5pon5ibiliti¢5 under tho5C Startdards are further de5criW in Èhe Auditor's responsibilities forthtaudit ofthe financi statements section ofourreport. W¢ we independentofth¢ chariiable conJpany in a¢¢OTdan¢ewith the dhiGal r¢quirements that are relevant to our audit o(the fjnancial stskm¢nts in the UK, including thc FRC'S EttLical Statthrd and w¢ have fulfilled ourotherethical responsibilities in accordCe with these requirement& W¢ believe that the audit evidence we have obthined is sutTicient and appropriate to provide & basi$ for ouropinion. Coneluslons relatlRg to going coneern In auditing th¢ financial ststements. we have concluded that the t51¢5, use of the going wn¢¢m b4$is of ccounting in the preparation of the financial 5tat¢m¢nts i8 appropriate. B8s¢d on the work we h&ve p#foTM¢d, we have not identified afty mattri uncertainties r¢latin8 to even15 or condition$ thaL individually or coll¢¢tiv¢ly, may ¢L%t signifLCaTht doubr on the charitable company's ability to ontinueasagoingconc¢Tn foraperiodof ar leutiwelvemonihs from when thefLnanGial sTht¢mentsare auihorised for issue. Our respon5ibiliti¢s and the respJllsibilÈtie5 of th¢ trus¢ees with rupect to gtsirtg ¢oncem are described in the relev1 sections of thi5 r¢potL Oth¢r informAtion The other infom)ation comprises the infornlation included in the Tru5tre5' R¢port other thlln the fth8n¢ial statements and ourauditor's reportthereon. The tr115tees 8re resw>nsible forth¢ other infomiation cotttsin¢dwithin the Tnjstees. Report. Our opinion on the financial statem¢nts does rtoi cover the other itLforJnation and, except to th¢ extentothenvise ¢xplicitly 5tatcd in our reporL we do tt exPrS any form of assurnnce conclusion th¢Mn. Our re5ponslblllty ts to r1 the other infonDation art¢ in doin8 so. consider wh¢th¢r the other infornmtkin 15 materially inconsistent with thc fJn8n¢io1 stslcmertts or our knowledge obtoits¢d in the Course of the Audit or <ithenYisc appear5 to b¢ materially mi5Stated. If we identify such material in¢onsistsNcies or apparent material misstatementy we are required to det¢rmine whether Ihis gives rise to a maicrial mi551atem¢nt in thc f1claI ststements ih¢mselv¢s. If, b&sed on the workwchave perfornied, we conclude thatthe is amaterial misstatement of this other Informatio we ar¢ ffquired to report that fa¢t. We have noihing to ryort in this r*. Registeredcompany NumbBr 08fr49046 Re8iSt¢ted ChDrity Numbu.. 1147327
The Calne Foundation Trust INDEPENDENT AUDITOR'S REPORT for the ear ended 31 Au ust 2023 Optnions on other matters prescrlb¢d by ihe Companies Att 2006 In our opinion, based on the work und¢rtakctL in the cours¢ of the audiL the infonnaiion 8Lven in the Trustees, Report, which includes th¢ DirectOTS' Report prepared for the purposes of company law. for the financial year for which the rtnancial $la(ements are prepared is consistent wilh th¢ finOll¢Lal statements- and the Dtre¢iors' Report included within the Trnstees, Report h&$ been pr¢pared in accordance wtth appli¢able legal requirements. Matters on wlLid) we Are required to port by cePtIon In the light of the knowledge and und¢r51anding of the charitable company atvj its etLvirorLtn¢tLt obthined io the course of Ihe audit. we have not identified material mi%si8tements in the DIrecrS. Report included within the Trust¢e5' Repc>rL We have [thIng to report in respect of the following matters where the Companies A¢t 2006 requires LL¥ to report to you if, in our opinion: adcquate ac¢ourLling T¢cords have not been kep4 orr¢¢ums adequate forour audit have not been ¢1Ved from branches not vlted by lls: or the financial statements are not in agreement with th¢ accounting records and rebjrns. or cert3in disclosures of trustees. remuneration specified by law ar¢ not made.. or w¢ have Trot received all the inform&tion and explanations we require for our audit: or theTrustees were not entitled to preparethe finencial stateTnents in accordknce wth the small comp8nies' regime and take advantagE of the sm811 companie5 exemptiort frojn th¢ requirement to prepare o Strategic Report OT Ln Preparing th¢ Tru5t¢¢5' Report. Re$poDsibilitre5 of trustees As explained more fully in the Stat¢m¢niof Tru5tees' responsibilities sd out on page 4, the trusiee5 (who also the directorsof the charitable company for the putpr>se5 of wmpany law) are reswnsible for the preparation of the financial statements and for being satL5fied that they give a true and fait vi¢w, and for5u¢h inttmal ¢ontrol as the trustees detemiine is necessary to enable ihe weparation of financial stsiements that are free from matla1 mi%statemenl whe¢h¢r due to fraud or ¢rror. In PTepaTng the financial statements. the trnstees ar¢ resportsible for assessin8 the charitable Lxynpany'5 ability to continue as agoiThg concern.disclosing, as opplic&ble. matttr5 related to gotn8 concern 8ttd llsitJ8 the goingeoncern basis of accounting unle55 the trustces eiihcT intend 10 liquidate the charitable company or to cease operations. or have rto r¢alistic ternatIVe butto th) so. Aditor'S re5ptsnsibilitie5 for the audit of the financial statements Ourobjectiwe5 are to obt&izJ re&son8ble assuran¢¢ aix)ut whether the financial $taternents as a whole are free frorn material mis5tatem¢ni, whether due to fraud or error, and to issue 2rt auditor's pDrt that in¢ludes ollr opinion. Re&sonable assurance is a high level of assutxnce, bu¢ is [t a guarantee that an audii conducted in accordan¢e with ISAS IUKI will always detect a mat¢rial misstatement when it exists. Missiatemcnts can #Tise from fraud or crroratld aretyJnsideredmaterial tf, individuallyortn theaggregate, theycould re&%onibly beexpected to influenee th¢ economic d]sionS of usets ttk¢n on the basisof these fJnanci81 stal¢m¢nts. The exten¢ to whith th¢ Audit WAS Considered pable ofdetectimg irregulitities, InddIng fraud ITregulsritlCs are instance5 of tLon-compli¥mce with laws and regulaÉions. Theobjective5 of our &udit ar¢ toobtain suffi¢ietkt appmpriate audit evidence reg2rding complian¢¢ with laws and rc8ulations that have & direct effect ort the dewmination of material amount5 and disclosures in the finan¢ial stst¢ments. to perfL¥m audit procedures to help identify irLStances of non-compliance with other laws and regulations that may have a maierÉal effect on the rinan¢ial statemcnts, and to respond appropriately to identified 01 suspected non-cofflpliance with laws aDd reguiat(ons identified during the audit. RweredConpanyNumb¢r.' 08049046 Regis*d Charity NumbBr 1147327
The Calne Foundation Trust tNDEPENDENT AUDITOR'S IiEPORT ftir the ear ended 31 Au ust 2023 In rciation ftaud, the objective5 of our audit are to identify and assess the risk of material misstatementof the financial ststcments du¢ to fraud. to obtain suffi¢i¢nt appropriate audit evidente re8arding the assessed ri5k5 of material misstatement due to fraud ihTOlJ8h desigThio8 and irnplemenfing appropriatc r¢sponse3 and kn r¢spond appropriately to fravd or suspected fraud identificd duritlg the audÈt. However. it is lh¢ primary resP]81b1]lty of manag¢m¢ot. with the Drsightof those Gharged with 8overnaw to ensure that the entity's oprrdtions ale conducted in accordance with the PTQViSiOTTrS of laws and regulationsond for the prevention and d¢iection of fraud. In id¢ntifyin8 and a55essing risks of materi&l mi55tatement in re5PXt of itregularitie5. indudiTrg fraud, the audit en8a8emetkt turn.. obtsined 4rt understsoding of the Thar¢ of ihe sector, includirjg the le8al and gulary framework that the charitable cornpaThy op¢rates in and bow the ¢hatitable company 15 ¢omplyin8 with the W attd regulatory frdmewoTk. inqutred of man2g¢m¢n4 and those charged wilh govemanee, about their owrl ideThtific2tion and 8SS¢ssment of the ri5k5 of ingularities, including any known actual. susp¢Gt¢d or allegcd ikston¢¢s of dIu5$ed matter5 aEK)Ut thon-compliance with laws and regulations and how fraud mighi occur induding a55es5ment of how and where tILt fiTthn¢ial statements may be suwtible to frauiL As a result of thes¢ proG¢dures we con5idcrth¢ most sientficant law5 Wtd r¢8lllation5 that hav¢ a direct imP8cI on the fin3ttcial statements FRS 102, Charitie5 SORP IFRS 1021, Compani¢s Act 2Q06, Charities Act 2011. the charitable company'5 goveming do¢ument, tax legislation and Charitie8 (PTOte¢tion and Social Inv¢5nnenil Act 2016. We p¢rforni¢d audit procedure5 to de*¢t non-complilnces which may have 8 nwterial impact on Ihe financtal statements which included reviewing th¢ flnincial statement5 including the Trust¢¢s' Report. remaining alert new or unusual trarlsactions which may not be in accordance wtth the governing duMents, irpEcting cOeSrIdenfj¢ with local t&Y authoritres 80d evaluating advi¢¢ rec¢ived from intern?Vexternal advisoTS. The audit engagement team identifled tk risk of managemmt override of controls and incDme recognition the aTea where the finan¢i¥l statements were most$us¢eptibleto material misststement due to fraud. Auditproccdurts performed included but wcre Dot limited to testing m3Du81 joumal entries and other adjustme[, evalu81ing the busine55 rationkle rrt relation to significant, unusual transadions attd tr8nsactions ¢nt¢red ittto outside the normal Coutseof business, challenging judgments and estimates and p¢rforning substantiv¢t¢stof details oyerasarnpling of dorLQtions. A fljrther description of our reswsnsibilitie5 for the audit of the fJnanGial stat¢ments is locat on th¢ Finan¢ial R¢porning Coun¢il's webstte at h .-Ihv .uklauditor ibilities. ThLS des¢ription form5 Pwrtof our auditor's repotL Re8isteted Comp¥nyNumber. 08Q49046 Registsted Charity Numitr. 1147327
The Calne Foundation Trust rNDEPENDENT AUDITOR'S REPORT for the ear ended 31 Au ust 2023 U$¢ olour report This report is made sol¢ly to the charitable company's members, as a body* in accordance with Cljaptcr 3 of Part 16 of the Companie5 Act 2006. Our audii work ha5 been undertaken so that we rnight State to the charitable ¢ompany's mernbers those rrtatters we are required to Sta to them in ttn auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not ac¢¢pt or assume responsibility 10 anyone other than the charitable comp&TLy and the charitable comparty's trlembers as 4 body. for our audit work, for this report, or for the opitlions we have formed. KERRY GALLAGHER IS¢nior Statutory Auditor) For and on ixhalf of RSM UK AUDIT LLP, Statutory Auditor Charter¢d Accountsnts D&vidsDn House Forbury sq)re ReIThg Berkshire RGI 3EU Date.. 14 December 2023 Regist¢r¢d Company Number. 08049046 R¢gisiued Charity Number. 1147327
The Calne Foundation Trust STATEMENT OF FINANCIAL ACTtVlTIES (tNCLUDtNG INCOME AND EXPENDITURE ACCOLfNT) for the year ended 31 August 2023 Unrestricted Re5tric¢¢d Endowment runds Funds Fuods Notes 2023 2022 INCOME: Donations Investmelli income 7,538 5.153 221,877 26,560 229,415 31.713 390,342 15326 TOTAL INCOME 12.691 248.437 261,128 405,668 EXPENDITURE ON: Charitable Activiti¢s 3.505 134,498 138.003 2Q5.792 TOTAL EXPENDITURE 3,505 134.498 138.003 215,792 NET INCOME BEFORE LOSSES ON INVESTMKNTS 9,186 113,939 123,125 199,876 Gainsl(t055es on investments) 5.507 {1971 5310 {81,399) NET INCOME AND NET MOVEMENT IN FUNDS 9.186 119,446 11971 128,435 111,477 Fund balance5 at start of year 16,925 2.406J48 7.874 2,43E.147 1319fj70 Fund balanc¢5 at¢5 ofyear 2.525,794 7.677 2.559,582 2.431,147 The notes on pa8es 12 to 20 form part of these fJnanria] $t8tements. Registered CornpBny N¥mber. 08049046 Rc8i*red Charity Number 1147327
The Calne Foundation Trust BALANCE SHEET as at 31 August 2023 2023 2022 Notes FIXED ASSETS Lnvestment properties Investments 302,313 1.194,486 302,313 1.184.678 1,496,799 1,486.991 CURJiENT ASSETS Debtors Cuh at bank and in hand 302.651 830,340 357,953 586,203 1,132,991 944.156 cREDoRs.. AMOUNTS FALLING DUE WITHIN ONE YEAR {70,208} NET CURRwf ASSETS 1,062,783 944.156 NET ASSETS 2,559,582 2.431.147 THE FUNDS OF THE FOUNDATION Endowmeni TrdS Restricted funds U[trICted funds 7,677 2,525,794 7,874 2,406,348 16,925 TOTAL FOUNDATION FUNDS 2,559,582 2.431,147 These fjnan¢ial stai¢m¢nts have been prepared in accordance with th¢ provi510ns applicable to companie5 Subject to the small companie5, regime. The finao¢id stèttLenfs were apprnved and authorised for isstte by the Board on........ bEhalf by.. d Signed on its MRS C BELL Chairperson of Trustee5 The tte5 on pages 12 to 20 form partof chese finoft¢ial stakrnents. io Re8ikred Cotnpany Number 08049046 Re8iSkred ChaTityNumber 1147327
The Calne Foundation Trust STATEMENT OF CASH FLOWS for the year ended 31 August 2023 2023 2022 Note5 Cash flow from oper#ting Activities: Cash g¢nerAt¢d by operatioiis 15 354.925 398,021 Net ¢4¥h from oper#th)g aetfvltles 354.925 398.021 C¥sh flow5 frorn investing activities.. Env&stm¢ni income received Cash donated to St Mary'5 School Investment fijnd manag¢ment fee$ 15.549 15J26 1126.3371 (193.6631 (12.1291 Purchase of investment Properties Net loss on inveslments {3023131 {1,768) Net ea5h used AnvesiinE activlti 1110,788) {494J471 Movement cash 244.137 (96J261 Cash cath ¢quiv¥l¢ttts Itt the beginning of the reporting period 586.203 682,729 C4$b and cA5h equivglellts At the end of tbe reporting period 830.340 586,203 AD8lysls of cash xnd tA5h eqUivalets.. Cash 81 b8t)k and in hand 830J40 586203 Th¢ notes on pages 12 to 20 forni partof these fitLan¢ig1 Statements R¢¥isLucd Comwny Nwnb¢r. 08049046 Regl*ed Charity Numkr. 1147327
The Calne Foundation Trust NOTES TO THE FtNANCIAL STATEMENTS for the year ended 31 August 2023 ACCOUNTfNG POLICIES Foundation information Thc Calne Fourldation Trust 5s a private ¢ompany limited by guarantee and incorporated in England and Wales. The registered office i8 Curzon Street. Calne, Wiltshire. SNI I ODF. Th¢ Cakne Foundation Trust Meet5 the defmitton of a public benefit entity under sectton 34 of FRS 102. The piitlcipal objective5 of the Fouttdation are detailed in thc Trustees rewn found ort page 2 of these rinancial statements. The financi21 statem¢Trts are prepared in steTiing. whtch is Ihe function currency of the Foundaiion. Monetary amounts in thes¢ finan¢ial statements are tDullded to the ne2re5t £. Accounting ¢ouY¢ntion The fu)ancial $t)tements have been prepared Under hisÉortcal ¢05t conveniion, modified by the revaluouon of investments. The financial siètemeThts have been Prtphrcd in accordance with Ac¢ounling and Reporting by Chariries." Statfftent of Recommended Prdrtice applicable to ch8rities preparing their accounts tn accordao¢e with the Financial Reporting Standard appliGable in th¢ UK and RepubliG of Ir¢land (FRS 102} (effective l January 20191- (Charities SORP IFRS 10211, the Financial iieportllJ8 Standard applic2ble in the UK and Republic of Ireland {FRS 102}. the Compatlies Act 2006 and th¢ Charititt Act 2011. The a¢counting poli¢i¢s disclosed have been applied consistenily ¢hrough¢)ut the current and rrfecedingyear. Goitsg contern The Foundation has net cUent assets of £1.062.783 12022.. £944.156} aod intome of £261,128 (2022: £405,668). The Fwndation's ruDDing costs are llY covered by its Par¢nt Cornpany- St Mary's School Icalnel. Any Teduction tn the overall valueof donations to the FoundatioTr would impact the arnount that ts donated to the sch41 foi specific cause5. All income is recogthised once the chaTrty has entitlement to th¢ income. it is probable that the income will be received and the amount of incotne receivable can be m¢asured reliably Donations are Tecogntsed when the Trust has been notified in writing of both the amount and settleEnent date. Irt the ev¢nt that a donaiion is 5ubjec¢ to conditions that require a level ofperfoThance before the charity is entitled to the fjJt)ds, the in¢ozn¢ is deferred and not recogni5ed Exp¢ndithre Liabilities 2re recognised as resources expended as soon &% there is a legal constructtve obligation committingthe charity to the expendtiur¢. All expendibjre is accounted foron an awrual basis ondh8s been classified under headirtgs that aggregate all costs related to the cat¢Tgory. Charitable A¢tivities The mattt component of charitable actlVLtie5 cons2sts of donations pdtd to St Mory's School (Colne), IQVE5tment management fees ortd itlvestment research costs. Taxation The foundation isexempt from taxon irt¢ome and gains falling withEn s¢¢tion 466 to 493 of theCorp)ration Tax A¢t 2010. to the extent that these are 4)p11 to charitable obj<¢ts. Th¢ Foundation is not regis*r¢d for VAT. and such all expenditure i8 shown )clUSiV¢ of IO¥erable VAT. 12 Re8{ered C0tnpY Number 08049046 Registertd Charity Nllmt¢r. 1147327
The Calne Foundation Trust NOTES TO THE FTNANCIAL STATEMENTS for the year ended 31 Au ust 2023 ACCOUNTfNG POLICJES {¢onltmted) Fun Etthwment funds are irtv¢st¢d in shares in the iThv¢stm¢nt fund, the income of which is takEn to restricted funds and used as acontributton towards award5 to pupils of St Mary's School {C8ln¢). RcstriGt¢d fvnd$ comprise ithcom¢ funds subje¢tto $pecÉfiG Irusts arisin8 either frotn the d¢)nor's wi5h¢s or the t¢Tms of a Particul fund tai8ing initiative. UleStrictsd fimds ¢ompri8e the Foundl0.$ fynds. whi¢h areexpend#bleat the di5cretiL)Th of theTrvst¢r$. Investmertts Investmertts are a form of basic financial inslnunent and are initially rtto8nised at their irartsaclionvalue and subsequently measured at tlLeir fair valu¢ as at the b3Jance 5hcct dat¢ USIDE the clositsg quoted mark¢t price. The Statement of Financial Activities includes the net gains and 105ses aTL5ing on revajuatiun and dtsposals throughout the yur. All gains and losses 8re taken to the Siatsmetjt of Financial Ac¢ivi¢ie5 as they arise. Realised gains and losses on investments ar¢ ca5¢ul3tsd u the differ¢rLre between sales pro¢eed$ and their opening carrying valu¢ or their purchase YaluE if xquired subsequ¢nt to the first day of the finonctal year. UnTe#li$ed Bain5 and Ios5Csa ¢glcu12ted the drffer¢n¢e b¢nve¢n the fair vAlu¢ at the year end Wld iheir ca18 value. Re81ised and Unal]sed inve$lment gaitLS atld loss¢s are combined in th¢ Statement of Financial AclivitLCS. Inves¢in¢iit properties lttvestment properti¢s lincbjding propertl¢s held uttderan Ol[B le&se) are LtLitiAlly measured atrx&and svbsequentjy measured at fair value. Change5 in fair value are recognised ID PTofLtor1085. Financial iwtrnments Th¢ Foundation has elcct¢d to apply the provisions of S#iion I I 'Ba5iG Financial In5trumcnts' of FRS 102 to all of its financial instruments. Fin#n¢ial instrvments are re¢ogtti$ed when the ctsmpony become5 party the cOntraCal provisioDsof the instrllrneftt. Finan¢ial assets and liabilitL¢5 are offset, with th¢ net athouttts presented in the financial 51a¢aneDts, whe there rs a Itgally ¢nfor¢eable right to setoff the recognised #mouttts and ther¢ is 4n intention to settle on a n¢t basis or to realise the asset and settle the li4biliry sÈmult2neotssly. 13 Regist¢ted Cornw Number. 118049046 R¢gi51cred Charity Numb¢r. 1147327
The Calne Foundation Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2023 ACCOUNTtNG POLICIES (cont¢mted) Ble financial assets, whiFh in¢lud¢ trade and other receivabl¢s, amounts owed by group undertaking5 2nd cash and bank balances. are initially measured at tTansaclioTh prÉce including Itansaaion costs and are Subsequently carried at amortised cost Using the eff¢¢tive interest method unless the arrdngemeni constilule5 a fLnancin8 transaction. where the financial asset is measured ai the presertt vve of the future receipts discounted at È market rnt¢ of interest. Clo Iliabililies Financial liabilittes and equity instmments xrE dassifled according to the sub5tantr of the contractual arrangements entered into. ATh cquity instrument is any conlrdGt that evidences a residual intere51 in th¢ assets of the company after deducting all of its liabilities. Busic Inancial liabiltiies B&sic financial li2bilities are initially wogni5cd at Iransacrion price utlless the arrdngement constitut¢s a financirtg transaction, where the debL insirutnerlt is rneasured at the presetlt value tsf the fiLture payments discounted at 4 maTk rate of int¢T¢5t. Critieal atcountihg estlmate$ and greas of judgemen( In the application of the Foundation's oCfOUtLting policies, the Tnjstees Ire required to mak¢ judg¢men¢s. ¢Slimates and assumptions about the carrying amount of assels and liabilities that are not readtly apparent from other source5. The ettimates and associated assumptions ale based on historical eX[lenGe and oiher factors that Are cothsider¢d to be relevant. Actual resulrs may differ from these estimates. The estimas and underlying assumptions are reviewed ott an ongoing basis. Revision5 to accounting estimales are recogtLTsed IR the pcriod in which the ¢stimite 15 revised. The estimates and a55umptions wtlich are considered to have a significant risk are as follows.. lrtve5tment properties The Trustees review the fair value of the investrtlent property on an antLuo1 basi5 with r¢f¢r¢n¢e 10 the morket value of the lo1 area. Judgment5 are mad¢ in respect of this valuation. tNFORMATION REGARDING TRUSTELS AND EMPLOYEES None of the TnJst¢es re¢eived grty emoluments from the FotsrLdBlion during the year or prior y¢ar. During the yeorTrusiee expenses ioiallitig £nil {2022.. £nil) reimEJrsed. DONATIOFIS Unr¢strithd Restricted Endowtnent fijnds funds Funds 2023 2023 2023 Tothl Total 2023 2022 Donaiions 7.538 221,877 229,415 390342 7538 221.877 229,415 3WJ42 In 2022, £3,715 of the donations received reLated to unrestrÉcted funds, £386.627 r¢Jd to restricted futlds It £nil rellltd to endowment nds. 14 Re8i*red Company Number.. 08049046 Regi%te CtRrity Numb¢r'. 1147327
The Calne Foundation Trust NOTES TO THE FINANCIAL STATEMENrs for the year ended 31 Au ust 2023 INVESTMENT GAINS AND fNCOME UhstrIcted funds 2023 Re5trictcd Elldowment funds Furlds 2023 2023 Total Total 2023 2Q22 Dividend5 received Irwestm¢ntgains Interest received Rent2J income 15,160 5.507 15,160 5,310 5.153 I1,400 14J71 (88J991 955 11971 5,153 11.400 5.153 31067 (1971 37,023 3.0731 Fn 2022, £955 of ihe investroent gaiTr5 artd income related to unrestricted fund4 (£71.398) rci8ted to restricted and {£2.Q90) relattd to endowmrrbt fuuds. ANALYSIS OF TOTAL EXPENDIIURE Direct Costs Support Costs 2023 Totsl 2022 Total Charitable A¢tiviti¢s: Donation to St Mary's School (Calne) Inv¢stm¢nt tuttd managertL¢nt fees 126J37 126.337 1.666 193.663 Il129 I 1,666 Totsl for Foundatron 126337 II.666 I38.003 205,792 Of the above expEnditUT¢ £3,505 12022: £8,250) relatts to unrestricted rtrfs and £134,498 (2022: £197.542) r¢lat¢S to restri¢i¢d funds. St M8ry's School (Calne) h&$ agreed to m8k¢ a donation to pay for RovematKe ¢osts including audil fees. legal and professional and consultan¢y costs in retIOn to asststing the Tiustccs pcrforni their roles under Ch8riry law. rNVESTMENT PROPERTY 2023 Valuation at I September 2022 3W2.313 Valuation at 31 August2023 301313 Investment propety Comprises a residential property. The propety was purchased on 26 July 2172Z for £302.313. which in theopinion of the trust¢es is the market value as at 31 August 2023. 15 Re8ifftredCompaDy N¥mi%r'. Q8C49046 Regiskr ChBrity Numtrtr. 1147327
The Calne Foundation Trust NOTES TO THE FtNANCIAL STATEMENTS for the ear ended 31 August 2023 FIXED ASSET tNVESTMENTS rot Itkvestment Funds 2023 Valuation at I S¢pt¢mber 2022 Additions Disposa15 {LossYGairt on investments ,092,174 148.161 (114.233) 5,310 TO1 investment fvnds excluding CAsb .131.412 Cash held in portfolio 63.074 Vttluations * 31 August 2023 ,194,486 The historic cost of th¢ irLV¢StrnerLts at the year-end was £l.051,95212022.. £1.064.089). The Tn1.5 iovestments are managed by James Hambro and Partner5. The inveslmeols are held in a ponfolio designed to meet the Trustees. investment policy to maintain a reasonable balance betweeo COtrLe and capital growth. Thc value of thc iThve5tment tA)rtfolio artalysed by investment holdings is 2$ follows., 2023 2022 Fixed inter¢st UK equities North Ameriun equities Europcan eqtsitie$ Japanese equiiies Asia pacifi¢ ex Jap2nl EM equities Global equities Alternative investments Commodities 177,464 165,489 413,299 71500 19.762 56,001 52,532 107,097 67,268 105,376 139,082 385.233 66,762 20.669 85,399 58.695 165,860 65.098 1,131,412 1,092,174 DEBTORS 2023 2022 Other debtors PpaYments and a¢¢rued incottle 28,620 274,031 5,197 352,756 301651 357,953 A¢Grued income includes £274.03] {2022-. £352,756) pledged donations that meet the ¢riteTia for recognition at thc baiancc sheet da(e but have not yet been received. 16 RegisreredCompanyNumber. 08049046 Regis*ted Charity Number.. 1147327
The Calne Foundation Trust NOTES TO THE FtNANCIAL STATEMENTS for the ear end¢d 31 Au U5t 2023 CREDMRS 2023 22 Amounts owcd to group und¢nakings 70,208 70,208 All amounts decl2rcd 05 owed to group undertakiTV #re payable on demand and IElter¢st free. 10 FINANCIAL INSTRUMENTS 2023 2022 Carrying amount of financia] as5rts.. Equity instruments rneD5ured at fair volue 1.194.486 1,184.678 IIECONCILIATION OF MOVEMENT N FUNDS Balance at 3] August 2022 Balance at 31 Augusi 1923 Tothl Total income expenditure Ttansfas and gains Endowment Funds: C Jamcs Music Prize Fund 7.874 (197) 7,677 7,874 (197) 7,677 Restricted fiunds: STEM Centie The Bursary Fund Amied Force5 Fund Capital Projects Fund C Jame5 Mu5LG Priz¢ Furld Othet restricted fund5 Events fvnd 24,570 2.064,866 I,soo 241,026 26,070 5.507 2,286,813 151 139,414 3J91 6334 5,821 (24.586) 209.943 2,886 102.134 1.798 265 1,623 (70,794) (618) {38.5001 4.023 2,406,34B 248.437 1134,498) 5,507 2J25.794 Unrestricted Fund$: GEn¢tal Fund 16,925 12,691 (3.505) 26,111 TOTAIS 2,431.147 261.128 {138.003) 5.310 2J59J82 17 Regi%teTed CompsThy Nurnber. 08049046 R¢Ei5wed Charity NllMr. 1147327
The Calne Foundation Trust NOTES TO THE FNANCIAL STATEMENTS for the year ended 31 August 2023 RECONCILIATION OF MOVEMENT IN FUNDS ICOWTfNuED) 2022 COMPARATIVE FIGURES- MOVEMENT fN FLrbrDS Balance at 31 August 2021 Balance ot 31 August 2022 Tot&1 Total income expenditure Transfe and g£ins Endowtnent Funds., C James Music Prize Fund 9,964 12,090) 7,874 9.964 (2,090) 7,874 Re5tritted Funds: STEM Centre The Bursary Fund Amied Forces Fund Capitsl Proj¢ets Fund C James Music Prize Fund Other stricted funds Events fiJTrd 23.070 2.092.267 1.SQO 92,240 24,570 184,886) 2,064.866 (35,455} 143,986 4.143 25,584 213,508 1.469 77.000 14,581 (147,551} 11,303) 14501 {12,783J 209,943 2,886 102.134 1.798 11,423) 2289,201 4(.998 Unrestricted Funds: General Fund 1197,542) 186J09) 2,406,348 20,50S 4,670 18250) 16.925 TOTALS 2.319.670 405,668 1205,792) 181,399) 143I.L47 arne The C James Music Prize Fund is cash to k invested in shares, the incorae of which will be restricted and used as a contributioth towards the cost of pr(zes awarded. entre fu The STEM C¢ntre Fund relates lo donations r¢¢eived for the purpose of building a new SIEM Cetllre. This is very much in its infancy 2nd expeDdilur¢ rcl&t¢s to desigtt development. The Burs fund The Bursary Furtd relates to donations fors¢xcific bur58ries. Thts year bursaries were paid oui for the Mathews Bursary. Music Burs2ry and Ihe Springboard Bursary. ¢¢5 fur The Amied For¢¢s Fund relate5 to donatioJJs to SIPort the education of childrcn who have a p3rcnt, of any nk, killed or wounded in active service. tal Pro ects fund The Capitsl Projects Fund relate5 to v&rious ongoiog school re12ted capii•l project5. Thc majority of the income this year is in r¢lation to the Lime Kiln Garden and Early Ye•s Courtyard. Donations were also received for the Art Sch(x)l. er te5tricled fvnds Other restricd funds Telate to amounts reeeived to be for specific PUTpose5. Events fund The events fund is used for Evcnts held by cFfaod usually includes ii¢k¢t costs. nreslri Unrestricted fijnds rela to donaiions thd investmeAt tKome whith can be used for the gen¢ral puq)os¢ of the Foundation. 18 Registered Company Number.. 08049046 Regiswed Charity Number 1147327
The Calne Foundation Trust NOTES TO THE FtNANCIAL STATEMENTS for the ear ended 31 Au ust 2023 12 NET ANALYSIS OF ASSETS AND LIABILITIES BEfwEEN FUNDS Fund banCe$ at 31 Augu$t 2023 are represented by.. Fix¢d &sset investhients Cuffent 855cts Cur¥¢nt liabilitirs Ertdowment Funds Re5trict¢d Futhds Unre5trictcd Futlds 7.202 1.489,597 475 1.106.405 26,111 7,677 170208) 1525.794 26,111 1.496.799 1,132,991 {70208) 1559.582 Fvtul balances at 31 August 2022 are represen by: Fixed asset inv¢Stents Current ass¢ts Total Endowmeni Fund$ Resiricted Fund5 Unrestricted Fund5 7,399 1,479.592 475 926.756 16,925 7,874 2,406,348 16,925 1.486.991 944.156 2.431,147 13 RBLATED PARTY TRANSACTIONS etrteat ersonnel All staffwho 8r¢ COTLsidered key manBgement personnel, also hold the position of Trust¢¢s. Transa¢ti with rou und¢rtski During th¢ y¢arthe Foundation made LknnatlOilsof£109.29412022= £144J33) to its parent entity Stmary. Srh<KJI (Calnel and received iDcome of £nil12022.. £nil) from St Mary's SciK)Dl (Cftlnel. At the balance she¢t dat¢ Foundatiotl owed St Mary's School {CalTrel £70.208 {2022.. £nil). Tnnsacti s with related rtL¢ Donation5 and pledges iotallin8 £229.415 {2022.. £390,342) w¢re received in the year. of whi¢h £15J90 (2022.. £52.290} were made to th¢ Foundation by Trustees and thcir spouses. 14 CONTROLLING PARTY The srnaSle$t and lar8estgroup within whichth¢cbarttable(4)mpany 1$ consolidated is headed by Stmary's 8¢hool {Calne). The consolidated aeo)unls QreaTllab1C from its rcgis*r¢d offic4 63 Curmn StreeL Caln Wiltshire. SNI I ODF. 19 Re8iitered Comp3ny Nutobcr. 08049046 Reg2SteredCtwityNumber. 1147327
The Calne Foundation Trust NOTES TO THE FINANCIAL sTATEms for the year ended 31 August 2023 15 RECONCILIATION OF NET EXPENDITURE TO NET CASH fNFLOW FROM OPERATIONS 2023 2022 Net income 128.435 111,477 Adjustments for: Investtneni ineome Investment (gainsvlosses InvesttTLent fvnd rrtanagement fees Don&tsoTh to St Mary's Sdml {31,713) (5,31Q) 11,666 126,337 115.326) 88.399 12,129 193.063 229.415 390,342 Decre45e in debtors Increase irl creditors 55,302 70,208 7,679 Neteash gerternted by operating aclivities 354,925 398,021 There no $trIc(lonS on Ga5h or cash equivalents. ANALYSIS OF CHANGES IN NET FUNDS 16 31 August 2023 September 2022 Cashtlows 586203 244,137 830,340 i5teRd CornpBny NutntEr.' 08049Q46 Rtg2Sttted Cbarity Ntmber. 1147327