THE OLD ELTHAMIANS, CHARITABLE TRUST
IA Company Llmft•d by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
Charlty No:
1149911
Company No: 08305478

THE OLD ELTHAMIANS, CHARrrABLE TRUST
{A company Llmlt•d by Guarantee)
CONTENTS
Laga and Administrntive Infixm
Report of the Directors
IndepeNlent Audltofs Report
Statement of Flnanclal Activit
BalarK8 Sheel
10

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Umlted by Guarantee)
LEGAL AND ADMINISTRATIVE INFORMATION
DIRECTORS
R Dellar
T Haden-scott
M Holcombe
N Houlden
CHARITY REGISTRATION NUMBER
1149911
COMPANY REGISTRATION NUMBER
08305478
REGISTERED OFFICE
4 Tower Place
Warflngham
Surrey
CR6 9PW
INDEPENDEKf AUDrroRS
Azets Audit Ser¥ic8S
First Floor
River House
1 Maidslone Road
Sidcup
Kent
OA14 SRH
BANKERS
National Westrnlnstér Bank
143 High Str88t
Bromley
Kent
BR1 1JH

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlted by Guarantee)
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Directors pr8sent their Annual Report and the Audit8d Finanaal Statements for the year ended 31 August 2024.
The Directors have adopted the provisions of the Statement of Recommended Practice ISORP) 'Accounting and
ReportiTr3 by Charities, (FRS1 102) in preparing the annual report and financial statemènts of charitable company.
The financial statements have been prèpared in accordance wilh Accounting and Reporting by Charities: Statement
of Recommended Practice applicable lo charities preparing their acLounts in aC￿rdance 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 (FRS 102), the Chanties Act 2011. the Companies Act 2006
and UK Generally Accepted Accounts'ng Practi￿.
OBJECTIVES AND ACTI￿nEs
The Obl￿ts of Ihe charity are restrrcted to the following:
to advance th8 education of persons anywhere in the world. with a preference for. but not h'mited to the pupils
and f0m￿r pupils of Eltham College (the Sch￿1 for Ihe Sons of Miswnaiies). andlor to or th8 said sclmjol.
or for any of its underlakings. wherever they may be situated" and
{a} To promote fA)mfflunily participation in healthy recreation in such ways as the Directors think fit, and in
particular by the provision and Maintenan￿ of factlities for the advancement of amateur sport.
STATEMENT OF PUBLIC BENEF
The oty'eclNes and aclivities, and achievemenl and perf0m￿nCe sections of this ￿port clearly sel out the actNities
which the charity undertakes for the public benefjt. The Directors confimi that they have complied with Ihe duty in
section 4 of the Chariknes Act 2006 to have due regard to public benefit guidance published by the Commission in
determining the activits'es undertaken by the charity.
STRATEGIC REPORT
Review of Activitses Achievement and Perforniance
Continuing its policy of provKJing annual Bursaries at Eltham College Senior School l°School-) to parents of an
applicant to Ihe Sch(x)I who ha5 reached the required academic standard but who. on a Tigorous means test, would
otherwise be unable to supp(￿1 the appltcant, the Charity supported in the year seven pupils. The total cost to the
Charity the year lo 31 August 2024 of these Bursaries was £80.855 {2023'. £63.090).
Financial revlew
During the year ended 31 August 2024 the Gharitys gross income was £84.735 (2023.. £72.652} made up of
donations. rent. investment Ir￿ome and interest ￿ceivable. Tolal expendi￿re was £87,416 (2023: £79.6581. This
resulled in a loss of £2,681 before gains on inveslments (2023: loss £7,¢XI6).
The increase in expendibjrè this year was mainty due to provision of the extra bursary for a seventh student. and a
Dne-off donation of £5,000 to fund renovation of the war memorial at the ￿h0O1. Detai15 of incC￿e and expenditure
are as set out in the financial statements.
The valuation of investment funds retumed a loss on revaluats'on of £4.077 (2023.. bss £48,852).

THE OLD ELTHAMIANS, CHARITABLE TRUST
{A company Llmlted by Guarantee
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
Reserves policy
This remains consistent with its previously dedared policy of reserving sufficient furxls to enable it to continue direct
fundraising activity for one year in the event of an unforeseen drop in income and reserving sufficient funds to enable
the Charity to support all pupils to whom a Bursary had been awarded until the end of their respective attendances
at the School.
The Charity, as at 31 August 2024. hekf total unrestricted reserves amounting to £952.246 (2023.. £959,004). These
reserves included freehotd property to a value of £634.324 {2023: £634.324) and Investmenl funds valued at
£226,362 (2023: £230.439).
Investment policy
Under its Memorandum and Articles of Association the Charity has power to invest funds nol immediately required
for its own purposes in any way the directors see fit. Consistent with that power and its Reserves Policy the Directors
undertook a review of their investment strategy.
Investmenl fvnds are spk't between a Unit Tnjst investing in UK propety (managed by Mayfair Capital) and a Growth
& Income fijnd investing in global equities & ffixed income securities (managed by BNY Mellon). Both vehicles are
availaNe to all charities that qualify for tax exemption, and they pemiit qualrfying investors (of which the Charity is
one) to invest in a tax efficient manner, both as lo capilal and income. For the year ended 31 August 2024 the
investments yielded income of £11.256 (2023.. £11,659).
Plans for the future
The Charity wll continue its poh'cy of pry)viding Bur5arie5 UP to a sensible limit in relalion to rts inC￿ne. In keeping
with the School's Christian Missionary foundations and lis present fX)mmitrnent to supportiThJ the provision of
education for the benefit of deprived children overseas. the Directors have indicated their readiness to consider
making grants in further8￿￿ of that policy for suitable projects. Next academic year the charity will continue provision
of bursaries for 7 pupils, afterwhich the position wll be reviewed On￿ VAT treatmenl of school fees becomes clearer.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constltution
The Charty. registered number 08305478, is also a company limited by guarantee and is 9)vemed by its
Memorandum and Articles of AssLKiation dated 23 November 2012. Charity registration was gaine(l on 26 November
2012. The guarantee of individual members is limited to £1.
Directors
The Directors. who are also Directors for the purposes of the Charities Act 2011, wh) Se￿ed during the year to the
date of this report were: .
R Dellar
T H8denwScott
M Holcombe
N Houlden

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Limlted by Guarantee>
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
Recruitment and Appointment of Directors
The number of Direc*ors shall not be less than three arKI no more than seven. Any person who a former pupd of
Eltham College, who is willing to act as a director, and is pemiitted by law to do so, may ￿ appointed to be a Director..
(i) By Ordinary Resolution, or
(li) By a simple majority of all the Directors ents'tted to attend and vote at any meetirvJ of the Directors.
No app(Mntment of a Director. whether by Ihe Charity in general meets'ng or by the other Directors, may be made
which would cause the number of Director5 to exceed any number fixed as the maximum number of Direct(Jrs. The
fi￿t Directors shall hokl Offi￿ fr)r a maximum of or three years at the end of whKh each shall retire. Any olh8r
Director shall be appointed for a tetrn of Ihree year5 and shall rets're at the fi'rst rneeting of the Directors fotEowing the
third anniversary of their most recent appointment. All Directors shall be ebgible for re-election. No Director shall
serve for a cumulative period of more than three tsrms of office.
Risk management
The Directors are in the prrxess of examining the nwjor risks that the charity faces and ensuring that systems have
been established so that the necessary steps can be taken to manage those risks.
Statsment of Dlrectors. Responslblllt
The charity Directors are responsible for preparing a D1￿ck(￿S. annual ￿port and financial statements in accordance
with apkluble law and United Kirodom Accountmg Siandards (United Kingdom Generally Accepted AcoJunting
Practice).
Company law requires the DirectOTS to prepare financial statements for each financial year, which give a true and fair
view of the slate of affairs of Ihe charitable company and of the incoming Tesources a￿1 application of resources,
including the income and expenditure, of Ihe chatitable cx)mpany for thal peritjl. In rxeparing these financial
staternents. the Directors are required to.
select suitatAe accounting policies and then apply them consistenlty;
observe the meth(Kls and principles in the Charities SORP 2015 (FRS 102).
make judgements and estimates that are reasonable and prudent:
state whether applicable UK Accounting Standards have been followed. subject to any material departures
disdosed and explained in the financial statemenls:
prepare the finan(ial stslements on the going concem basis unless it is inappropriate to assume that the charitable
crmpany wll continue in operation.
The Directors are responsible for keeping proper accounting records which disdose with reasonable ac¢)Jracy at any
lime the financial position of the charitable company and to enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguardirvJ the assets of the company and
hence for takir¥J reasonable steps for the prevention and delecb'on of fraud ot other iwregularilies.
Statement of Disclosure of Information to Audito
So far as the Directors are aware..
there is no relevant audit infomiation of which the charitable Company's auditor is unaware: and
the D1￿ctO￿ have taken all steps that they ought io have taken to make themselves aware of any relevant audil
inf0m￿li0n and to eslatlish that the auditor is aware of Ihat infonnation.
Auditors
Azets Audit Servios will be proposed for reappointment at the Directors, meets'ng.
By Order of the Board of Diredors
-TknL4-
T Haden4cott- Director
N Houlden - Dlrector
Dale .
25 f.JA .2Q25"

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Limited by Guarantee)
REPORTOF THE INDEPENDENT AUDITORS TO THE MEMBERS
Opinion
We have audiled the finarKial slalements of The Old Elthamian's Charitable Trust (the 'charilable company,) for the
year ended 31 August 2024 which comprise Statement of Financial Activates, Balance Sheet and mtes to the
finan(aal statements, including a summary of significant aC￿Unting policies. The fi'nancial reporting frarnework that
has been applied in their preparation is applicable law and United Kiwdom Accounting Standards. including Financial
Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practs'ce} and the Charities SORP 2019.
In our opinion, the financial statements=
give a true and fair view of the state of the charitable company's affarrs as at 31 August 2024 and of Its
incoming resources and appli¢￿tiOn of resources. for the year then ended"
have been properfy prepared in accordance with United ￿"ngdoM Generally A￿pted A￿)Unting Practice:
and
have been prepared in accordance wilh the reQui￿rnents of the Companies Act 2006., and.
Have been prepared in 8ccx)rdance with the requirements of the Charilies SORP 2019.
Basis for opinion
We conducted our audit in accordance with Intematl￿aI Stsndards on Auditing (UKI (ISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's reswnsibiliiies for the audit of the
financial statements section of our report. We are independent of the charitat4e company 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 resp¢N7sibilities in a￿OrdanCe with these requirements. We believe
that the audit eviden￿ we have obtained is sufficient and approprtate io provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial statements, we have concluded that the Trustee's use of the going (x)ncern basis of
accounting in the preparation of the financial ststements is appropriate.
Based on the work we have perfom)ed, we have not identified any material uncertaints'es relating to events or
conditions that. indiv￿ua1ty or collectivety. may cast doubt on the charity's ability to continue as a going concem for
a period of at least ￿e1ve months from when the financial statements are authorised for issue.
(￿r responsibilitEs and the responsibdities of the Tnjstees with ￿SpeCt to going cOn￿M a￿ described in the relevant
sections of Ihis report.
Other informalion
The Trustees are res￿nsIble for the other infomiation. The other information comprises the infomiation included in
the annua rerM)rt, other than the financial stalements and our auditor's report thereon. Our opinirjn on the ffinancial
staternents does not cover the other information and, except to the extent otherwise explicitty stated in our report, we
do not express any forni of assurance conclusw)n thereon.
In connection with c)ur audit of the financial ststernents, our responsibility is to read the other infonnation and, in doing
so, c￿sider whether Ihe other infomiation is materialty inconsistent with Ihe financial statements. or our knowledge
obtained in the aLJdit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements. we are required to determine whether there is a material misstatement in the
financial statements or a nHterial misstatement of the other information. If. based on the work we have ￿rformed, we
c¢Mclude that there is a material misstatement of Ihis other irrformalion, we are required to report thal fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the ccurse of the audit:
the informalion given in the trustees. report. whic*t includes the directors. report and strategic rew)rt prepared
for the purposes of company law. for the financial year for which the financaal ststements are prepared is
consistent with the financial statements. and
the strategic report and the directors, report induded wilhin the trustees. report have been prepared in
accordance with applicable legal requirements.

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlted by Guarantee)
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Matters on which we are required to report by exception
In the tight of Ihe kr¥)wledge and understanding of the charitabl8 company and its &nvironment obtained in the course
of the audit. V￿ have not identwfied malerial misstatements in Ihe straiegtc report or the directors, report included
within the trustees, report.
We have nothing to report in respect of the following matters in relation io which the Companies Aci 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept, or retums adequate for our audit have not been received
from brdnches not visited by us; or
the finarnal slatements are not in agreement wilh the aLwunb'ng records and retum5". or
rtain disclosures of trustees, remunerats.on specified by law are not made; or
we have not received all the infom)ation and explanations we requiro for our audit., or
the trustees wefo not ent￿ed to prepare the financial statements in aC0)rdan￿ with kne smau companies
regime and take a(Ivantage of the small ￿MpanIeS. exemptions in preparing the tnjslees, report and from
the requiremenl to prepare a strategic report.
Responsibilities of Trustees
As explained tnore fulty in tTUStees' responsibilrties statement. the trustees (who are also the directors of the
charitable company for the pu￿OseS of company law) are responsible for the preparation of the financial statements
and for being satisfi&J that they we a true and fair view. and for such intemal contrcl as the INstees detetmine is
necessary lo enable the preparation of financial statements that are free from material rnisstat8ment. whether due to
fraud ￿ error.
In preparirwJ the financial statements, the Irustees a￿ responsible for assessing the charitsble company's abilty lo
continue as a going concern, disdosing. as applicable, matters related to 90ing concem and usirNJ the going concem
basis of accountirrfJ unless the trustees either intend to liquidate the charitai* ￿l￿panY or to cease operations, or
have no realistic altemative but to (k) so.
Auditor's responsibilities for the audit of the financial staten*nts
Our oty'ecbves are to obtain reasonable assuran￿ about whether Ihe finanoal statements as a Who￿ a￿ free from
matebial mtsststement, whether due to fraud or error, al￿ to issue an auditorfs report that incI￿leS our opinion.
Reasonable assurance is a high level of assuran￿ but is not a guarantee that an audit conducted in accordancE with
ISAS (UK) will always detect a material misstatement when il exists. Misstatements can arise fr(xn fraud or em)r and
are COnSKlered material if, individually or in the aggregate, they cxjuld ￿asOnablY be expected to influence the
econornic decisions of Use￿ taken on the basis of these financialstatements.
Extent to whlch the audlt was consldered capable of detectlng Irregularltles, Including fraud
I￿egUlaTi￿es. induding fraud, are instan(%s of n￿-cOMpliance with laws and regulattons. We design procedures in
line with our resrK)nsibilrties. ouuined above and on Ihe Financial Reporb'ng Crwncil's websiie, to detect material
misslatements in respect of irregularities, induding fraud.
We obtain and update our underslanding of the entity. its activities. its control environmenL and likely future
devekjpments. incknding in relation to the legal and regulatory framework applicable arvj how the entity is complying
with that framework. Based on this understanding, we identrfy and assess the risks of material misstatement of the
financba statements, whether due to fraud or error. deswn and perform audit procedures responsive to those risks.
and obtain audit evidence that is sufficient and appropriate to provide a basts for our opinion. This includes
C￿SIderation of the risk of acts by the entity that were contrary to applicable laws and regLAations, induding fraud.
In reSp￿se to the risk of itregularities and non-compliance with laws and regulations. including fraud, we designed
procedures which included..
Enquiry of management and those charged with governan￿ ar(￿nd actual and potential 1ltb3ati￿ and claims as
well as actual. suspected and alleged fraud,.
Revrewing minutes of n￿*ingS of those tharged with govemance;
Assessing the extenl of compliance with the laws and regulations considered to have a direct material effect on
the fina￿la1 statements or the operations of the charitsble company through enquiry and inspection.,

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Limited by Guarantee>
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Reviewing financial statement disdosures and testing to supporting dctumentation tr) assess cnmpliance with
applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, InC￿ding testing of joumal
entries ar)d other adjustments for appropriateness. evaluakng the business rats"onale of Signifi￿nt transadions
outside the nonnal course of business and reviewng accounting ests'mates for indicators of potenb.al bias.
Because of the inherent limitations of an audit. there is a risk that we will rM)t detect all irregulanb"es, including those
leading to a material misstatement in the financial statements or non-compliance wrth regulation. This risk increases
the more that Complian￿ with a law or regulation is removed from the events and transactions reflected in the financial
stalernents. as we will be less likely to becx)me aware of instances of non-(X)MrAian￿. The risk of not detecting a
material misstatement resulbng from fraLKI is hoher Ihan for one resultirvJ from error. as fraud may invo*rfe collusion.
forgery. intentional omissicms. misrepresentations. or the override of intemal control.
A further d8SCriPtion of our responsibilities for the audit of the financial staternents is located on th8 Finanaal
Reporting Council's website at WV4w.frc.org.ukJauditorsresponsibilities. This descriptNJn fomis part of our audttor's
report.
Use of our report
This report is made solety to Ihe charitsble (x)mpanrfs members, as a bcty, in acts)rdance with Chapter 3 of Part 16
of the Companies Act 2006. Oui audit work has been undertaken so that we might state to the chartlable company's
members those matters we are Tequired to state to them in an auditorfs report and for no other purpose. To the fullesl
extent pem7itied by law. we do not accept or assume responsibih'ty to anyone other than the charitable company and
the charitable company's members as a body, for our audit work, for this report, or for the opinions we have fomied.
Mlchelle Vvllkes FCA (Senior Statutory Audrlor)
for and on behaEf of Azets Audit ServI￿s
Chartered Accountants
ststutory Auditor
First Floor
River House
1 Maidstone Road
Sidcup
Kent
DA14 5RH
Date -

THE OLD ELTHAMIANS. CHARITABLE TRUST
(A company Umlted by Guarant••)
STATEMENT OF FINANCIAL ACTivrriES
FCHi THE YEAR ENDED 31 AUGUST 2024
Ineoffl• and Expndlture Account
UnMstrlct•d
Funds
2024
Unrgstrlcted
Funds
2023
Income from:
31.0(K)
20,000
40.000
12,652
Other irM)Jn
Inveskn8nt
13.735
TOTAL INCOME
84.735
72,652
Expondlturn from:
Chariiable aclvlilies
87.416
79,658
TOTAL EXPENDtruRE
87,416
79,658
NET INCOMEI(EXPENDrniRE) BEFORE GAINS ON
INVESTMEpirs
{2,681)
(7.006)
N¢t (loM•sygalns on Inv•$tmonl assets
{4.077)
(48.852)
NET IKIVEMENT IN FUNDS
(6,758}
(55,8581
Funds brought forward at 1 Septsmber 2023
1.014.862
FUNDS CARRIED FORWARD AT 31 AUGUST 2024
952.246
959.(K14
All tran&iclions a￿ derived from continulng activitles.
All reccyjnised gains and k>sses a￿ included in the Statement of Flnanci81 ActiNities.

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlted by Guarantee)
Company number: 08305478
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
FIXED ASSErs
Investments
860,686
864,763
Cash at bank and in hand
106.(KO
106.057
106.060
106,057
CREDITORS
Amounts falling due within
one year - Ac(xuals
(14,500)
(11,816)
NET CURRENT ASSETS
91,560
94,241
NEf ASSETS
952.246
959.004
FUNDS
Unrestricted funds
952.246
959.004
TOTAL FUNDS
952,246
959.(W)4
Approvad by the Board of Dir8Ctors on
85 FJ 191¥
and &gn8d on their behalf by..
.-fkn.L(tr
T Haden4cott
Dlrector
N Houlden
Dlrector
10

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES
Basis of preparalion of financial statements
The Old Etthamians, Charitable Trust is a company limited by guarantse in the United Kingdom. In th8 8vent
of the charitable company being wound up, the liability in respect to the guarantee is limited to £1 per member
of the charilable rA)mpany. The address of the registered office is given in the chartty Info￿atiOn on page 1 of
these financial stalements. nature of the Ghaiitable c&Mnpany's operations and principal activities are as
sel out on pwJe 2.
The charity c￿n￿tuteS a public benefi't entity as defined by FRS 102. The financial statements have begn
prepared in accordance with Accounting and Reporting by Charities". Statement of Re(x)Tnmended Practice
applicable to chanb.es prepanng their acr￿unts in accordance wtth the Financial Rerx)rting Standard
applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reportiftg Standard
applicable in the United Kingdom and Reputlic of Ireland {FRS 102}, the CharitEs Act 2011. the Conpanies
Act 2c￿6 and UK Generally A￿epted A¢￿untIng Practi￿.
The financial stalements are prepared on a going c￿ncern basis under the historical cost convention, modified
to indude certain items al fair valu8. The financial statements are prepared in sterling which is the functional
cuThency of the charrty.
The significant accountirvJ p*ies aptAied in the p￿paration of these financial statements are set bek)w.
These pdi(>es have been consistently applied to all years presented unbess otherwise stated.
Funds accounting
Unrestricted general fijnds are voluntary income and other income re￿1vable OT generdted for the objects of
the charity WIth￿t further specified purpose and are availaLle as generdl funds. The funds (an b8 used in
accordance wilh the charitable objects at the discrelion of the Directo[5.
Incon
All income is included in the Statement of Financial Activitres (SOFA) when the charity is legally enti#ed to the
income, the receipt ts probable and the amounl can be measured reliably.
Voluntary income is received by way of donations and is included in full in the SOFA in Ihe year in which
they are receivable. where the receipt is probaNe and the amount can be re￿abty measured.
Other income is recognised in full in the SOFA in the year in which it is ￿ceivable, ￿ere r￿lpl is
probable and il can be measured reliably.
Investment income is recognised on a receivable basis.
Expenditure
Expenditure is accounted for on arl accruals basis. and is recognised once there is a legal or constructive
obligation to transfer economic benefi't to a third party, it is probable that the setdement will be required and
the amount of the obligation can be measured reliably. The iThecoveratAe element of VAT is included with the
item of expense to wlich it relates.
Charitable exFendi1U￿ comprises tr#)se costs incurrgj by the chaiity in Ihe delivery of its activities arKI
services for its beneficiaries. It includes both ctsts alk)cated dirth to such acliwties and those (x)sts of an
indirect nature necessary trj support them.
11

THE OLD ELTHAMIA14S' CHARrrABLE TRUST
(A company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1.6 Support costs allocation
Support costs are those that assist the work of Ihe ¢harity but do not directly represent charitable aclivities
and indude office costs and governan￿ costs. They are incurred direcuy in support of expenditure on the
objects of the charity. Where support costs cannol be directy attributed to partiCLAar headin9S they have been
allocated to expenditure on charitable acb'vities on a basis consislent with use of the resources. Thè analysis
of these costs is indudèd in note 5.
1.7 Taxation
The company is a reg￿tered d)arity and is ther8fore 8nts'tl8d to th8 ex8mptsons from corporation tax afforded
by section 505 of the In(Lime and Corporation Taxes Act 1988. Accordingly. there is no corporation tax charge
in these financial statements.
1.8 Investments
Investrnent assets are inC￿d￿j in the financial statements al their market value. Where hekj as an ongoing
investsnent they are included as fixed assets. ff the investment is to be tealised within tsvelve months it is
categorised as a current asset AJI realised and unrealised gains and losse5 are recognised in the Statement
of Financial Activib'es.
Golng concern
The financ￿81 ststements have been prepared on a going concern basis as the Directors bdieve that no
mateiial un(%rtainties exisL The DIrECtO￿ have considered the level of fitnds held and the expected level of
income and expenditure for 12 months from authorising these financial statements. The budgeted income and
expenditure is sufficient with level of reserves for the charity to be able to continue as a going cancem.
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Rent
40,000
40,000
40.000
INVESTMENT INCOME
2024
2023
Bank interest
Propety Investment Trust
Newton Growth and Income Fund for Charities
2,479
9,967
1,289
993
10,348
1.311
13,735
12,652
12

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlt•d by Guarantee)
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF EXPENDrruRE
Dlrect
Costs
Support
Costs
Total
2024
Total
2023
Charltablo actlvltles..
Grants & tKJrsaries payable
85.855
85.855
78,090
Govemance costs
1.561
1.561
1,588
Total expendliurn
78,090
1.561
87,416
79,658
Grants and twrsaries payable were mwje to Ellham College.
Grants and burnar1￿ payalAe
2024
2023
Eltham College- BuTraries
Eltham Col898- Donation
80.855
5.000
63.090
15,000
85,855
78.090
SUPPORT COSTS
2024
2023
Auttht and arA￿nIancY fees
Bank tharges
1.5
1,506
13
49
13
48
1,561
1.568
STAFF COSTS AND DIRECTORS, REIMBURSED EXPENSES
No Directors were reimburs8d for expenses during the period (2023.. None).
The ¢h81ity has no empknyees.
13

THE OLD ELTHAMIANS, CHARITABLE TRUST
(A company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
INVESTMEiirs
Newton Growth &
Incomo Fund for
Charilie•
Property
Investment
Trust
Land &
Buildings
Total
Market Valu•
At 1 September 2023
Unrealised (lossygain in year
54,604
5.578
175,835
(9,655)
634.324
864,763
(4,077>
At 31 August 2024
60.182
166,180
634.324
860.686
Cost
At 31 A￿ust 2024
50.000
200.000
634.324
884,324
At 31 August 2023
50.000
200,000
634.324
884,324
SHARE CAPITAL
Thè ¢onpany is limited by guarant88 and has no share capllal. The liability of ts members Is limited to £1 per
member.
14