Charity number: 1151698
THE MONMOUTH SCHOOLS, CHARJTABLE TRUST
TRUSTEES, REPORT, FINANCIAL STATEMENTS AND INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2022

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
CONTENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Pige
Tru5*r4 offi¢ers and advisors
Tru5tees' repokrt
Ind¢pendent 8xamin¢trs report
SLltement of Financi￿ ActivitlC5
Balance Sheet
Nr>t¢s to the Financi￿ Stattrn¢Jts
16

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
TRUSTEES, OFFICERS AND ADVISORS
FOR THE YEAR ENDED 31 AUGUST 2022
Trustee5 und Directors
'rhc Mtsnmouih Schools, Charitable Trust has a sole GOTFKiratt truMee'. Mscf Truslce Limii¢d. Company number
11371492. aproinied on 14 May 2022.
Directors of Mscf Trustee Limii¢d
ChairmAn
Mr David Hiichc4)ck
Dire¢tors
Mr Martin AndeT50n
Mr RiCh￿d Booih.
Mr fdiiL rd Buil¢r
PToI'Ri¢linrd C8rw3tdIne CMG
Mr Audlcy Tii'islon-Davi¢5
Mr WRrren ￿￿1 CBE
MrNoel Manns
Mry Bridgd Bark"er
Ms Lh&Yloiit Hurnc
Ms Claire Martinsc
Ms Abigail L1¢wcll￿-w￿ters
MrJulian Si¢v¢ns
Ms Sorfjh M¢lvin
[dece￿¢d 15.09.221
(Tesi￿ed 07.02 221
Iresi8n¢d 07.02.221
18ppoinied 20.06.221
Secretary
.1r.￿ TL%%a Nor8rove
Principal Offite$
Monmouth Sehools, Chftrit*blE Trust a￿d MSCT Trustee LimÉttd Montnouth School feT Boy$
Almshouse S￿'¢t
MoninLlUth
NP25 3XP
Registered Ch#rliy Number
1151698
Hankers
Lloyds Bank pl
18 Monnow Sircet
MonTnouih
NP25 3x14
Invtsttnent ManHgers
Sara5in & PAruJers LLP
Juxon 14ousc
100 Si P&ul'$ ChuTch}'aTd
London
EC4M 8BU
Independent Examithtr
Guy BI￿1￿ FCCA, ACA
Cro%vc U.K. l.LP
4th Floor
St James l.louse
51 Jamcs Square
ChLltenham
GL50 3PR
Solicitors
V¢ale WasburDugh Vizards
Narrow Quay House
Narroiv Quay
BSI 4QA

THE MONMOUTH SCHOOLS, cHA￿TABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
StAt¢mtnt of Trustees, Responslbillties
The Tru51e£s are rsponsible for preparing the Tru￿￿￿. Aiiiiual Repi)rl and tlic finartcial 51alciiients in accordaDc¢ with applicablc law 8nd
United Kingdom G¢n¢iaily Accepied Accounting Pr&ctLCt Iunitrd Kingdom Actountin8 StttndJrdsl.
lThe Igw applicablc to charities in Lngland and Walcs requircs the-I'ru5*¢s to prcpare tingnciul sta*tnents lor ¢ach tinancial y¢8r which
give H true and fair view of the siatc ofaffairs of the Ch&¥'ity and of the incotning ￿SOUrc(S and 4iplirntion of r¢50urccs of the Charity for
thai peiiod. In prtptying ih¢se finanGial %tatem¢n15, the TrL)s￿e5 tr¢ reqvi￿d to."
seleth suitable a¢¢ounting poli¢i¢5 and then Apply them consi%*nily'
ob5ervc the mcthod5 and principles in the Ch8ritie5 SOiiP;
iiwk¥ jud¥¥iiiiJJL> ¥5llTII￿Lfs Iliul ujr i¥dwiiubl¥ diiJ piuJ¥iiL'
stat¢ wh¢th¢T applicable accounting standards liave Ixxll lollowed. 5ubje¢i to any material d¥partur¢$ dis¢los¢d and explainrd in
Ihe t5nancial siatcrnents,.
prepa￿ the financial ststemeDt$ on the Boing concem basis unless it is inappropriate to presume ihat the Charity will rontinur in
bu51ne$5.
Thc Tiust¢es are r¢5ponsible for ke£ping ad¢qu8te accounting records thgt are 5UtYicieni 10 show and explain the Chariiy's transaciion&
disclose wilh re￿Ollable accuracy ai any lime the financial posititsn of the Charity and enable them to ensure Ihat th¢ finaDtial $iaternent5
Cotnply with the Charitics Act 2011, the Charlties (Accounts and Reports} Regulations 2008 and ￿ provisions of thc Charity's Canslirution.
They are olso Ic5ponsiblc for safegu8rding th¢ assets of the Charity and hence for taking reasonable steps lor the prcveniion and detection of
fraud and othcr irregularities.
Strvcture, GovernHnre arkd Man*gement
The Charlty and Corporate Trustee
Th¢ MoTrmoulh schools, Ch4Lriiable Tiust w&% esiablislied utt 61h l Lbruary. 2013 by a DLLIIiTation uf TTUSL as uniiicorporated ￿50¢)￿tIOn
and rcgisttTrd a5 a charity with the Chariiy Commissioii undLI' rcgisiralioii number 1151698. On 14 May 2022 the trustees of the Charity
pLssed o resolution and appoinled a new compan). ￿MSCT Trusiec Limiied. 10 act as sole Irustec ofthe Charity.
Mscf Trustee Limited
MSCT Trustx Limitrd i8 a company litnited by guarantee which is the 501e trustcc of TIIC Imonrnouth Schools, Charttable Tntst. The
Cotnpany's responsibililies , as Truste& arc under￿k¢ll by its DiTe¢tors, who were previously trustces of the Charity. and its &CllVlties are
m2ntged on a dtty-to d&y ha.qig hy the PrincipAI. Ihe Fniifrdxrittft Rilt.%Xr. Ihc fJr.vplnpme.nt nIr￿t￿r nthpr 5t9ff of Habprdasher
Monmouth School5.
Thc Dircctoys are selc¢ted from the breadth of availablc talent in the current parent and alumni communiiy. The Dirrctors arc largely m&de
up of fornier pupil$ 8nd have been carefully chosen to provide a depth of expcricnc¢ in law. busincs& academiA snd prior experience or
fundraising. Neither ihe Trustce nor yny of Ihc Dir¢cloF% rcceivc any remuiieraiion for SLrvitcs p¢rfom)ed in their ¢apacity as TTUStee or
Dir¢ciors.
The Trugtee #nd the Governin8 Ilody of the Haberdagherg, Naonmr>uth School$ have jointly 88red tknt for th¢ forese¢able futur¢ all th
COS15 of generating funds shall be borne by l.labBrdast]er8' Monmouth Schools.
Aim, Objetts and Attivitle5
Trust's is to enhance 8nd subsi&ntially support m¢bos-￿sted Pla￿ arKI capital improv¢ment5 ai thc H&berdashers' Schoo15 in
.Monmouth over and obov¢ the income received from the endowmEnt allocèicd fTOtn Ihc William Jon¢5'5 Schools Foundation.
The Chariiable Trttst was IoTrned to cover all the Schools in the Monmouth group. Initial fundr&i$ing etTorts focused on Monmouth School
for Boys. Fundraising activities have $ubscqucntly bvcn widencd 10 Seek 5UPPOrt for ￿1 of the schools in ihc Eroup. Wilh the t¥¢ation of thc
Monmouth SEhool'5 Charit2blc Trusi the Schools hpLve esthblished & fundraising vchicle that Is Kparale from Ihe William Jonegs Schoo15
Foundation and which is admini5t¢rcd by those willi a clL4U' Utlilialion lo Monmouth.
The Trusi¢es confinn that they havc ￿rt[rCd tD Ihc Lliarity (.'oniinission's gcneral guidaiice on public bcncfit under th¢ Charilics Act 2011
when reviewing thc Trusi's aim5 and objcctive$ and in planning future acliviiies and setting grant making policy. The tnain Charitable
activtlics undertakett 10 furthcr ihe charity's purposc for the public ben¢fit air scl out in thi5 r¢port.
The charit&bl¢ Obj￿tiVeS for the Tn]51 adopi¢d DD 6th PcbTuary 2013. a5 follow5..
To advanff ih¢ education ofpupi15 tt the S¢h(K>l5.
To protnote any other charitable purwsE or purposes conn¢cled with or othcrwis¢ associated with the Schools.
To providc grant funding to the Schools for the provisioo of stholar5hLP5 and bursarics an<Vor direci financial ￿$1s13￿C¢ to pupils and
prospective pupils oftlie Schools.
To provide grant ￿nding for thc provision of lacilitle5 8nd ¢qvipmtnt 10 5UPPOrt the education of pupil% al the Schools.
lo provide oth¢r forms of8roni futtdin8 to thc Schoolj.

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2022
Th¢ key areas of ￿tIVItIeS in th¢ ycllr are summllrised below..
FUND 400
The Trusi¢es hav¢ remaitkd mindful of Ihe corc b¢li¢Fth&t the Schools should continu¢ 10 support those from thc lo￿1 are4 from low-
income household4 ÈS it ha5 always donc and as Williarn Joncs intended. Tn 2014, to c¢lebr&le 400 years of MonmDUth Schrfvl for Boys
FUND 400, an assisicd pla¢c5 and txjrsary fund. launched. This was Ihe tir$i lime sintt thc cnd of Dir¢¢t Grant Ihat the School had
appealed fo¢ money to dire¢tly help boys of ibilily to aitend the school. During the year, trusttts decided to ¢ombill¢ the FUND 400 and
the William JorKs fund due w Ihc align¢d purpose of each fund.
The Wllllthm Jone& Fund
Following the su¢ce55 of ¢he FtTND 400 eampai8n ¢hc focus for fvndralslng Concentr￿ed on the longer term alm to build a r￿W Williftm
Jones IBursRry Bnd Scholarships Fund) to provide kn educaiion to as many pupils of abslity frorn th¢ lo¢al are& os P055ible. Th¢ n¢w fi4nd
will help with fe¢s for puplls who show potcnlial, not just acad¢mi¢ally, but also in musi¢ or 5porL A t¢lwhone ¢ompaign was carri¢d out
in July 2018 which successfully laU￿bed this key fundraislng vehi¢l¢ and a sccond v¢ry successful lelephoK ¢ampaigrL which had been
stponcd duc to pandemic re51TiCtions was carried out in June 21.
Donaii¢Jns arr given as reslri¢tcd gills wilh Ihe donor d¢¢iding whcihcr th¢ donation should be ¢bannelled toward5 Monmouth SGhool for
Boys or Monmouth S¢hool for Girls. DurinE th¢ yeAr, the Williatn Joncs Fuiid cornbined with FLfND 400 ￿ both fisnds had the sam¢
rpose and aims. During the year, th¢ combin¢d William Jones Fund had £148,206 ofdonations12021.. £156.1601 in¢lus5Ye of aid.
Bursaries gnd Le8acIts
Buildin8 on th¢ Suc￿SS of the two iargeted c8mpaign5 detailed abo￿ the a8reed fondraising strategy has specifically targct¢d pupil fee
support in its widest forms. We were extrernely plea5cd to receiv¢ in the year a dondiion of £20.000 in the fomi of the Birker 6th forni
Seholar5hip lo add to the UO.QOO alr• received in the previous year. This is lh¢ first major donation 51DC¢ th¢ Cmation OF the
Development offjce that has ixen reeeiv¢d ¢xprcssly lo Supp￿ of Monmouth School for Girl&
Hardship Fund
Th¢ COVID-19 pandemic producrd eKlr¢m¢ly challenging ¢ondilions Ihat111¢ ve had ¢normous ¢¢onomie impact on many p¢oplds
livelihood5. The.Schools wish (o suppori those p&rcnts whose financial circtsmsiwiLCS have ¢harsged dramdtleally at this lim4 2nd xi up a
Hardship Fund tys oa¢ orth¢ measyrFs th￿ ho￿ will hclp. Parent donatlons and a sub51anii&l donsrion ftom the Reliihon Trust in Z(>2ts-21
was used ID give additional fee 5UPPOrt io families wh05¢ incom¢ or ability io work contin￿ 10 bc SCVeTely inpacted.
Fulure Plan5
On 27 june 2022 the Chalrnjan ofGovcmor5 of HabErd&sh¢rg Monmth Schools announud the proposed merger of Monmouth School for
Boys and Monmouth SGhool for Girls with the aim of d¢liverin8 a clear and Com￿]11n8 ¢Oryedu¢a¢ion&l offer 10 pwts 8nd pupils for this
and fiJtur¢ gen¢ration& Fundraising a¢tiviti¢s will bc lar8et¢d to support this 8mbitjOU5. wide-ran8ing, and trEn5fonnalional review of the
school& Thc tkvelopment Tcam will work closely with its major donors to support sustkinability in planJJe41 esidies Enhanccrncnts and will
rtiinuc iQitiAlives to provide bursary support for m￿t dcservin8 boys and 8Éri&
Risk Mgnag¢ment
The following tLN)k place during thc ycar
annual review ofri5ks faeed by th¢ Tru5t-
estttblishrncnt and review of systems Aftd prrKedures to miliRate those Tisks. and
es(ablishm¢nt and review of pr￿edureS to minimisc the potential irnp8ct 00 the T￿￿t should any ofth05c risk5 rnatcrialise.
The main risks identificd by the Truste¢s are in￿lment risks and approprlate application of restricted OJnd5 whi¢h are b)th subjeet
compr¢hen5ive mttn8g¢ment procedures.

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
TRUSTEES, REPORT (Continued)
FOR THE YEAR ENDED 31 AUGUST 2022
Investment Polity
Under the term5 of the Trusi Deed. the Trusi¢es have gener21 powers of Tnves(ment subject to IhB provisions of the Trustee Inv¢51mcnt Aei.
The overall wlicy of thr Truste￿ is ¢0 mairttain & balanced portfolio which include5 Fixed Inieresi Bond$, Gills and Equilies. Invc51ment
may ix direct inio individual sh￿S or via appropria1¢ collecliv¢s or oih¢r r¢levant insirumenis. The Truste¢5 do not intend to inv¢si di¥e¢¢ly
in high rL5k derivalive5. The Tru5tccs havc Iransf¢rred 8un15 Ill￿ arc unlikely 10 be 10 bc uscd in Icss thon 12 monih5 to Sara5in & Partners
LLP and hove agreed that thc funds tsndeT their m3na8emciii sliould bc devoled to equilics serking 10 maximi5e 8r01￿h ond incomE.
Nts additianal Funds ivere trylnqfeffcd into the invcstsnenl furtd durine the yc8r {2021.. £171.328 invesiedl hrsw¢ver. dividend income or
£8,59512021'. £3.6721 was reinvcsied into the portfolio. At 31 Au8U5t 2022 thc market valu¢ of the funds after c051S and dividends was
£255.22412021.. £294,797) the unrealistd loss on the inveslrnents during th¢ F¢TÉod Wds £48.1691202I.. £&145 gain).
A fund bal8nce of £255,224 remains under the management of Sarasin & Partners LLP 8131 Au8u5t 2022 which is sei asid¢ for future fee
5UPPOrt and c2piiaJ developm¢nt costs incurred by Monm¢Juth School for Boy5.
Re5erve$ Poliey
R¢seryes held 15 restricted funds are for Specific purtM)Nis fcquEsi¢d by donors, The TrusiLLs and Govcrning Body of the HabErdashcrs'
Monmouth Schools have joinily a8reed Ihat for foreseeable future all the w$ts of raisin8 fund8 shall be borne by Monrnouih School. Thc
rTusiee5 do not therefore consider th&( there is a need to malntsin any fix¢d level reserYc5 a5 the Charity no commiinwnis for expenses.
The se¢urities Inves￿ents held at 31 Augusi 2022 ar¢ h¢ld in respect of future capital project development cost5 and bwsaries for whieh
there sre no commitments at 31 Augus¢ 2022. £5,3 13 {2019.. £5.3131 of unrestricted hjnds were held at the year cnd.
Flnartcifil Ravlew
The financial stttternents on pages 7 ¢0 16 have been preFQTed for th¢ year ended 31 Au8USt 2022. Incorn¢ for th¢ year Iv 31 August 2022
amounted to £221,95512021.. £286,512). Costs of raising funds w¢re £84,656 (2021.. £84.4751. These ¢osis have been m¢1 by a ¢ontribuiian
from Haberdash¢rs' Mwmourh Schtyjls. The Trusi¢¢$ and Ihc Govemin8 Body of Habttrd￿her$' Monrnouih Schools have jointly oBreed
that this year and for the fores¢¢abl¢ future 811 the cost5 01.rJi5ing fiinds shall be borne by the SLhooL5.
Charitable expenditure WLS £83.37512021.' £155,193). The ￿pendIture in 2021-22 r¢pres¢n¢¢d grants to MoThmouih School for Boys and
Monmouth School for Girls to be used for edut&lional fee suppjrt.
Investnwt management fees in ttle yellr &mounted to £2.073 (2021.. £1.263).
R¢lAtionshlp wlth Coonected Partits
The Trust h&$ no relationships with connected pani¢s with the exception of those transd¢tions disclosed in noie S.
Going Con¢¢rn
The Trus*es and mattAgement have ¢onitnued to monitor ihc irailing imp8¢L ot'COVID-19 ￿ it¥ acLivsti4 and in¢om¢ projections have
¢¢n prepared. The cash position is 2130 being monitored ort a more regular b￿1$. As a r¢sul4 al the dalc oF5iWLin& th¢sc financial
st*ments indic2te that the Ttwst will be able to continue to operate as & 8Otng corsc¢rn.
The Truste¢5 ¢on$thdu that thc Trust 15 WCII placed to eorttinue meeting its V8TiOU5 educ&tional objects and the tu￿eTht r￿￿ ofa¢tivlt?es is
expected to remain in place for the forcseeable futsre.
For And otl bchalf of the Trusttes
D Hit¢h¢o¢k
ChBirman
Date 13 Abruar 2023

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
INDEPENDEl*T EXAMIliER'S REPORT TO THE TRUSTEES OF TIIE MOi¥iMOLpTH SCHOOLS, CHARITABLE TRUST
I rerrf)rt 10 th¢ tru51ees on my examinaiion of ihe accounts of The Monmotsth Schools, Charitable Tnjst (the Tr￿tI for the year endrd 31
August 2022, which are set out in pageq 7 10 16.
Thi5 rcport is made 501¢ly tu ih¢ charity's irustees. as a body, in awordance with section 154 of thc Chzrities Aet 2011. My indepcndcnt
exarnin¢rfs work ha5 been undertaken so that I might staic to the charity's trusitts ihose matters l am requit¢d tQ Slal¢ To them in aft
independent examinels i¢p)rt and for no othcr purwse. To the lullest ¢xicnt tKrmittcd by law. I do not x¢c¢pl or assume re$pDnsib¥lily lo
anyone othet than thc charil>, Ihc charity's members a5 & body and the cliarity's Irusitt¥ a5 a body lor niy indcpendLnl ¢xarniner'5 work. for
thi5 rcport. or lor ihe opinions I have forrned.
Re5ponsiblliti¢$ and basis of riport
As the charity Irusiecs of IFK Tru￿ you are tt$pJnsible for the prcparaiion of th¢ tt¢¢ount5 in accord8nC¢ With the requirements of Ihe
Chariiies Art 2011 I'lhe Aci'i.
report in resp¢Et of my examination of Ihe I rust'5 accounts Carried out under sectton 145 tsf the 2011 Aci and in Garrying out rny
cxamination I hav¢ follow¢d #ll IhE applicable Direction5 given by the Chariry, Commission undcr scction 14515llbl of ihe Act.
IndependeRt txarniner's ststemeut
I have complekd my exarninalion. l ¢onfinn thai no tnat¢rial matters have ¢om¢ to m}, attctsiion in wnn¢clion with ihc cxaminlliion giving
me tau5r to klieve that in any maiwial rc%pecl'.
accvunling records W¢￿ noi kepi in rcip¢¢l ofihe Tru%1 ii.s requircd by %L*liOlI 130 tsf the Aci; OT
2. the accounts do not accord w'ilh IhDS¢ ￿0rd5-.. or
the accounts do not comply with Ihe applicable rtquirem¢nt5 concemin8 ihe rom and conlenl of the accounts scr out in the Charities
IAccount5 and Keports) Regulations 2008 other than anv regul￿men1 ihai the accounts give a'lrue and fairf view iihich is not a maiitr
considered as part o18n indcptnd¢ni eyaminalion.
I have no concerns and have come a¢T05$ no other maiiLrs in ¢onneciion ¥vith th¢ Ekaminaiion 10 which al*nlion should k drawn irt this
rew)rt in order lo enable a proper undcrsianding ol"Ihe auounis tv be reached.
UELUD.
Guy Biggin FCCA, ACA
Crowe U.K. LLP
4ih floor
Si J8rnes Hou5¢
St James Squarc
Cheltenh
GL50 3PR
Date 21 Febrllary 2023

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2022
Uiir¢51J'ictéd De51gn*¢ed Rtsirl¢ted
Funds
Funds
Funds
Total
2022
Total
2021
Note
Income from:
l)onaiions and L¢gacie5
Investment5
14,241
,297
197.021
9,371
211,262
10.668
280.739
5,773
T(btg1 income
15.538
206.392
121.9JO
286.512
Expenditure on:
Raiying funds
Fundr8lStng & Dev¢lopment
Inve51tnent monag¢ment
Le55.' Cgnlribution frorn Montnouih Sch
84,656
84,656
2,073
84,6561
2.073
84,475
1.263
84,475
,263
252
415
84.656
252
ChArit2ble attivitlts
Grants and burs8rie5
83,375
83,375
155,193
Total expenditure
252
85,196
85.448
156,456
Net Ilosse51 J gain5 on investmenis
15.8601
142.3091
148.1691
6.145
Not Intomd(expenditur¢l
9,426
78,887
88,313
136.201
Net movemtÈht in fund$
9,426
78B87
88J13
136,201
RtconciliAtffion of futtd$
Told fiLnd5 brought forward
I S¢ptetnb¢r 2021
Totgl funds carried forwxrd
31 August 2022
5.313
21,620
412.809
439.742
303.541
5,313
31,046
491.096
$28.O55
439,742
The notcs on pages 9 to 16 form part of Ihc5c financial stsiemenis.

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
BALANCE SHEET
AS AT 31 AUGUST 2022
Note
2022
Z021
Flxtd issets
Inv<stmcDIs
255,223
294,797
Current asset$
Debtor5.' arnoun15 due within gne year
CASh at bartk ttnd in hond
11.226
261.J51
23.938
172.890
273 077
196.828
Currtnt Il•bilities
Creditors.. antounts falling due within one y¢aT
245
51,883
Net turrent iss¢ts
272,832
144.945
Total nel assets
528 055
439.742
The Funds of the Chirlty
Restricted in¢ome Funds
Designated inwrnc Fuftds
UnTesrrictcd Funds
491.696
31.046
5.313
528.055
412,809
21.620
439.742
The fin&nci&l statements have been approved by the Trus￿¢$ tsn
13Wts
gnd si8ned otl their beh&lf by:
S5gned on behgllof the TrustetS
D Hltehto¢k
Chairman
T Norgrove
Biir5llr
Th¢ notcs on p88es 9 to 16 form part of th¢se financial slatem¢nts.

THE MONMOUTH SCHOOL5. CHAIUTABLE TRUST
NOTES I'0'fHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
l A¢¢ounting Policles
a} Legal St•tu$ ofthÈ ChArity
The Monmouth Schoo15' Charitable Trust wos re8isiered wilh the Chority Commission for Enelllnd And Walcs on 6 Febyuary 2013
Ir¢gisiered number 1151698). Its regis*red Addre55 princi￿ ofFice is Monmouth School for Boys. Almshouse Street, MDnmouth
NP25 3XP.
bl BRsis Df Prepiratlon
The fiDan¢ial statements have been prep8rtd in accordance wtth AccouniinE and Rcporting by Charit1¢5.' Siatcment ofR¢commended
Practice appltC8bl¢ 10 charities preparlng their aecounis in ￿OrdanCe wilh the Financial Reporting Siand8rd applicable in rhe UK and
Republic of Ireland {FRS 1021 attd the Financiol Reporting Siandard applicable in the Urrited Kingdom and R¢public of [￿land {FRS
1021 and the Charities Act 2011.
The fLnanciol Sla*ments hav¢ be¢n preparcd under the historical c051 wnvenLIOD with exceptron of rTrve51mcnts whieh ert Incl￿ed
at market value.
Th¢ Monmouth S¢hoo15' Charitabl¢ Tru5¢ meets th¢ definition of a public benef5¢ ¢ntity under FRS 102.
cl Goinl Con¢ern Pollcy
These financial statements hLve been prepared on a goirtg ¢on¢¢rn b#sls. The Trusi¢es hove r¢vi¢wed this wsition in light of the
trailing irnplieaiion5 of the COVID.19 p2ndemi¢ and remain of the opinion that ¢h¢re 4t¢ no m￿erIal un¢ertain¢ies about th¢ Trust's
ability ￿ continue. Additional scrutiny will b¢ put in place to ensure that grants &ward¢d sustatn8ble from fvnd$ in plac&
dl Fund A¢¢ourtting
The followin8 types of fvnd art maintalned:
Rc51rici¢d Funds hold incomt tt¢eived for purposes spetifJ¢d by donors or by th¢ terms of an appeal.
Desi￿al¢d Funds h(tld inGoffl¢ &4tnJarkd by th¢ T￿u51¢£& foi rapiral proj¢cts al MonLnouili for Boy5.
Unrestrieted Fun&4 r¢ceive incomc which IJ cxpen4JublL Ul Ihc dLSLrelion of(he Trusices In furtlier4Lnce of the objects of thcTru5L
el Imcomt
All ithwmc L5 reCo￿ls¢d in Iht Statetnent of Finzncial ActLVLtie5 when there is entitlemen¢ probability of rr¢eipt and the amount can
b2 m¢a5urcd with su￿1¢1¢Tht reliability. Donations and ill other receipts from fundrELiSin8 are reported gross and any fundrai5in8 costs
are report¢d in oltler expendi¢ure. Tox recoverable relating to donations is accounted for in the same period as th¢ Klated inwme.
Legacles
L¢8acie3 are re¢ogrtised as Te¢¢ivabl¢ once proba￿ kas been grant¢d 8nd notifi¢ation has been r¢¢¢ived if sufficient inforrnstion
regardiag the value is provided. Entitl¢m¢ni to l¢gari¢s may be included in the yw of notific&iion subjeci w ihe fund5 being Tcceivcd
diirinp th81 finAneig1 ve8T nr within 2 Tr¥inth% afver Ili¢'. ¥￿.111￿.nrf.
8) Costs of Rgl$lng Funds
Costs incurred in fundraising for donations are shown ￿ 8 5epHrate line of expenditure in the Sthiemenl of Financial Activities. Th¢s¢
includ¢ salarie5 and charges for $￿cIfiC staff tnvolved directly in SJndrai5in8 activities. The Trustees and the GoverninE Body of
HobBrdash¢rs' Monmouth S¢hools have jointly agreed that for the foresecable ￿tUre all the ￿Sts of raising funds sholl be borne by
Habcrd&%hers' Monmouth S¢hools. The Charity is noi reglstered for VAT artd iTrecover￿le VAT is in¢lud¢d wiib ihe item of expense
to which it relates.
h) Charlt#ble Expendffitur¢
Charitable expenditure includes sll ¢xpendiiure dirccLlI' rel￿ed to Ihe objects of the Trust And is ￿corded on an accwals bosis {non-
grant cxpenditurel or. for gr8nis. re￿￿15¢d according lo Ihe dat¢ on which r&ch award 15 4uihoris¢d by Ihc Tmstee 10 ttL¢ eKtent that
ihe beneficiary may re&%on8bly ¢XF¢a w r¢¢eiv¢ IL wh¢th¢r in a ¢urrent year or in a tsjiure year.

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
NOTKS TO THE FINANCIAL STATEMENTS
FOR TFIE YEAR ENDED 31 AUGUST Z022
(¢oJJ¢inuedl
il Tix*tion
The Trust is a Tcgister¢d Clwiry, and 05 such is eniiiled lo t&xation c¥emptions on all incomc Pro￿TlY applied for lis chzriiable
purrM)ses.
jl Cash 4nd cash equlvalents
C￿h is reprV'Scnt￿ by cash in hand and detK)sit5 wilh financial instiiuiions. c.ash ¢quivalents and eurreni inve8ttn¢nt5 are highly liquid
and rnaiure in no More ihan three monihs.
k) Debtors
Other debtors and amount$ due from HAknd&sh￿s, Monmouih Sch(x)Is are recognised at lh¢ scttlttnenl amount.
11 Creditor$
Crediiors are rec4)gnised where thi Chariiy has a p￿Sent obligaiion resulting I'rom a posi cvLnt thai will probably r￿ll]l in th¢ tran$feT
ot. funds lo a third part) and the amount due to s￿lIe the obligaiion can be m¢a5ured or esiiTn8tcd rcliably.
ml InvestmtDts
Incorne frarn inveslmcnis is included in Ihe Slaiemlni uf i.'iiiaiicial ALlii'ili1s oinly if received, or declared 2nd reE¢ivablc. Gains or
105ses arising from the ￿¥3]ual￿On of invc5tmenls arL deali with in Ilie blal¥m¢ni of Financial Aaivitie5. Inv£sim¢ni$ are stalcd at
markei valuc at Ihe balance sh¢ei dale.
n) FinI￿rIal Instruments
'I'hc Chariiy onl!, has finan¢icil assets and financial Isabiliiies ol. a kind thai qualify ￿ bil sic financial insiTUTncnts. Ihcse beillg
inv¢51rn¢nis, Lash at bank, dcbiors and crediiots (see note5 j. k and 11. B355c financial insirutneD15 are inilially recogni5ed at transa￿lOn
value and sub5eqiienily rn¢a5urcd ai their 5Ctil¢tntnl ¥aluc.
Financial ￿se15 held Ji atnortiscd cost comprise Lash ai bank and in hand, oiher debtor5 and accrucd incotnc.
rinancial assets ¥neasured at fair value IhrouEh incomc and txpendilure comprise lisied invc51mcnt5.
ol Criti¢fil A¢COUlItIllE iudgem¢Dts and key 50urtos of estimAtion ulltertoiniy
Preparation of the financial 51alemenis r¢quiTCS managemeni lo ¢onsid¢r making any significant judgcments Bnd c51imales where
necessary, Thcrc are nu iietns in the financial 51aicTnen15 where significant judgtmenis and cstirnalion5 have bcen made.
10

THE MONIMOUTH SCHOOLS, CHARITABLE TRUST
NOTES TO THE FINANCIAL STA TEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
2 Analysis of Donationg and Legatie
2022
2021
Donation5
Legacie5
252.190
28,549
280,739
33,276
211.287
J Fixed Asset Inveytmtnts
2022
2021
Inve$tmtnt Income
Dividend$
10,668
10,668
5,773
5,773
S¢curitie$ lrt¥¢$tmtnts
2022
2021
Alpha CITr for InGotne and Rescr￿5 Income shares
C&h
252,804
2,419
255.223
291,803
2.994
294.797
2022
2021
Market Value as ai 1st Sepiember 2021
Purch￿¢5
Cash movement
Re2lised and u)Jr¢alistd gaihs
Market valu¢ a5 al 315t Augusl 2022
294,797
9.170
1575}
48,169
255,223
175.000
838
6.145
294,797
14isioTic81 Cost
291.467
285.291

THE MONMOUTH SCHOOLS, CHARtTABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31 AUGUST2022
contlDuedl
4 AnAIy$i5 of expenditure
SIRf(
Costs
Other
Costs
202Z
TotAI
2021
Total
Costs of Raising Fund5
Fundraising & (kveluptnent
l.'undrai5in8 events
Travel
51.422
27,372
1,167
3.268
78.793
74,699
608
556
670
7,942
,263
84,475
1,263
3,268
¢X5KnscS
T¢chnoloEY COSI$
InvestmLni managernenl f¢es
Coniribution from Monjnouih School
Total
323
2,073
33.2341
2.073
323
2.073
84,656
2.073
51.4221
Chthritablt Attivitie5
Bursaries and awards- HabeTdashers' Monmouth Schw1$
Capital Grants awarded- Hdberdashers. Monmouth Schools
74,375
9.000
83.375
74,375
9.000
83.375
155,193
155.193
Tot#1 Expenditur¢
85.448
85,448
156,456
IndependeDI cxarnination ft¢5 of £2.60412021.. £3,100) are met by Hakndash¢rs' Mot)nwuth &hwls
2022
2021
Silxries atld wages
Salarics and wag¢s
Social security co.qls
Pension contributions
42,384
4,037
5,001
38,803
3.853
4,Q69
51.422
46.725
DevelopTnenl siarr resp)nsible for r4i5ing funds are etnplDyed b), Montnouth School. No cmployc¢s receiv¢d retnuiKralion of mor¢ Ih&n
£60,000 during eith¢T financial period. An average of 3 mem￿r$ of were cmployed in fiJndraising during thr year.
Tru%tees rcceiv¢d rcimbuT5cd expenses related to travel and subsistence during the year of£Nil12021., £2941. During th¢ y¢aT no
-rrusie¢ reLLived any remuncralion or oih¢r btTrelil$12021.' £Nill.
Relnted party Iransactio#s
The Trustees and the Governing Body of Ilic Ilaberd￿hers, Monmouth Schools hav¢ joioily agreed ihat for the forc5c¢able tuiure all the
costs ofraising funds shall bc tome by Flukrdastkrs, Montnouih Sch(M)l$.
£9,000 ofcapithl dwards tOW8rds a new rowin8 Lx)at and £74.375 of fee support w¢re awardcd to Haberda5h¢rs' Monmouth Schoo15 in
the y¢ar.
Ai 31 Augusi 2022 a[nOu￿lS oi¥td 10 Ilaberdashers, Monmouth Schools within l year atntsunlcd lo £24512021.. £51,883) and atnounts
owed by Ilab¢rdashers' Monmouth Schwls amounied to INil12021.. £Nil).
Debtor5.' amouthts due withÉn Dn¢ year
2022
2021
Oiher debtors- Gift aid claitnablc
Accrued Income
1.226
21.938
2.000
23.938
1,226
7 Creditors: amounts falling due within one yeAr
2022
2021
Haberdashtrs, Monmouth SchoDIs
245
51.883
245
51.883
12

THE MOPIMOUTH SCHOOLS, CHARJTABLE TRUST
NOTES I'O I'HF. filYAryCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Icontinucdl
B Re$trlcted Funds
Futtd 400
Th¢ Trus￿¢$ are rtgtricted io using the fund5, Sn the for5n of a55Tsied places and burwie4 to help PTovid¢ a Monmouth School for Boys
Education to children who would not othcnvisc b¢ abl¢ to affoi'd to attend th¢ School.
During tlie Jear, Fund 400 was combined with the William Jonc5 Fund.
The Barker 6th Form Stholarship
Established ie fund a scholarship for A de5ervin¥ pupil LiilEriDg 6ih Fomi ai Monmouth Scliool for Girls.
anns Sixth V'orm bcholArship
A w81.ded tts extern&l candidatcs who sir thc Sixth form Scholarship exgThination ar Monmouth School for Boys. knrn locally. have
achieyed grades at GCSE significantly abovc averag¢ &nd who are intending 10 apply lo Cainbrtdge Univ¢rsily.
The W#rrert And Amkllda E￿t Fund
Donation5 $￿tif1¢allY to help finance new building projects at M4)ninouth Sch(M)I for Boys.
Artortymous Bursary Fund
To be used 10 suppon a mcan5 t¢sted bursary at Monmouth School for Boy5 and Monmouth Pre-Prep andTr4urscry.
The WAllis FAmily Fund
The Trustces arc restricted to Using th¢ fund5 5petific&lly for mcan5 testcd bursary funding at Monmouih SchrM)I for Boys.
The Quentin Soanes Rowing Fund
Funds received spe£ifically to award a scholarship lu a pupil excelling in rowing at Monmouth School for Boys.
OM Bursary Fund
Specifically to 5UPPOrt bursari¢s for pupils in Monmouth Srhool foi Boys.
Gwilliam Leg4cy
Fund.£ ￿¢¢iV¢d spcrifically to suppon a pupil at Monmouth School in pursuii of excellence in ru8by.
The BucklaDd 6th Form Scholarship
Csiablished ￿ fund a scholarship for a deserving pupil entering 6th Form ai Monmouth S¢hool for Boys.
Drabble Lega¢y
rund5 reccived for the purpose of tdvan¢eincni ol'¢duebtion,
OM BursAry Support
Specifically to support bur$arie5 for pupils in Monmouth School for Boys.
OM Seience Scholar
Fund5 rccctved to oiT¢r a s¢ient¢ Scholarship At Montnouth Schotsl for Boys.
Hardghip
Fund5 reteived 10 support Pdrents adverscly affecied by the COVID-19 pandemic.
Rowing Boat 2022
l."und5 re¢civtd froTn Ihe various donors lo support a long tcrm Towing boAt rcplacemetjt plan. This inclllde$ & dortation reteivcd from
lh¢ Old Monmothian Club in 2022 of £5.000 which fully donaicd in thc same yoar io Monmouth School for Boys towards a new
rowing boai.
William Jones Fund
A buT5ary and scholarship fund to provid¢ cducaiion th boys and girls olability from the local Ar¢& During thc yt&r. the Willi8m Jones
Fund wa5 combincd with Fund 400.
Speech DRY frize Funds
rund￿ reccived to providc annual spe£ch day prizes at Habcrda5hw5' Monmouth School5.

Designated Funds
Th¢ Houldgreovts Lcg4cy
Income deSi￿are0 by the I'ruslees for future capithl PTOjCCts ai Montnoulh Scliuol for Boy5.
THE MONMOUTH SCHOOLS, CHAIUTABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
8 Resirlcted Funds Icontinuedl
{cohtinuedl
Movements for the year are as fijllows
At
I S¢piomber
2021
At
31 AuEu51
2022
Expendlturo
Transfers
Gwins and
Lo55e5
Restrltted Funds
rund 400
BarkeT 6th Forni Scholarship
'lThc Manns Sixth Form Scholarship
The Warren and Amanda Easi Fund
Anonymou% Jlursary Fund5
'rhc Illallis Family l und
Quentin Soancs Roiving Furtd
OM Bursary Fund
Gwillitm l.tgac>
Buckl£lDd 6ih fortn Scholarship
DrBbblc Leg&¢y
OM Club Burstry Support
OM Club Srience Scholar
Hardship Fund
Roi4'ing Eloai Fund 2022
WTrlliam Jones Fund- Boys
William Jones Fund- Girls
SFr¢ch Day l)riz¢ Funds
TDtal Restricted Funds
19.663
30,000
44,673
58.583
25,104
66.142
,500
8.800
10.794
20.000
1.616
2,120
772
130.4J71
50,(X)O
38.676
50,719
21.817
60.388
3.(X)O
500
4.348
17.2991
19.5721
13.4891
110.8081
15701
14651
,500
18,3001
15.5801
412
467
33.276
51,417
17.334
12.875
12,1041
33,276
44,740
17,334
12751
16,4021
53,428
148.7081
19,0001
15,6991
15,7821
17761
19,786
20.932
18,276
2.000
206J93
15.538
10,786
65.327
15,339
30.457
27.833
2.000
491.696
41Z,809
21,62
5,313
185.196
1251
142JlOI
{51601
Design*ted Trunds
Llnrestrlcitd liunds
31,046
5.313
Totil Funds
14

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 AUCII8T 2022
(continued}
At
31 August
20Z2
Total
Anllysis of not assets betwÈeD funds
Fixed A51et
Invt5tments
Current
As5etJ
Current
Unresiricicd funds
Designaitd bunds
kcstricted Futtds
5.313
31,046
491,696
31,046
224.177
267.764
12451
245
255,223
273,077
528,055
Compirfitive illformition x$ it 31 Augllst 2021
Muvements for the ￿ar wcr¢ a5 follows..
At
I Septtmbtr
2020
At
31 Augyst
2021
ltt¢om¢
Expertdi¢¥re
Gftlns And
L055es
Restricted Funds
Fund 400
Barkcr 6th Fortll Scholarship
Thc Manns Sixth Form Scholarship
The Wsrren and Amanda Ea51 Fund
Anonymou5 Bursary Furtds
The Wallis Family Fund
Quentin Soanes Rowing Fund
OM Bursary Fund
GWilli￿n Lega¢y
Buckland 6th Forni Scholarship
Hardship Fund
lilliatn Joncs Fund- Boys
Willi&m Jones Fund - Girls
TotAI Restricted Fund$
16,235
11,669
30,000
875
18.2411
19.663
30.000
44.673
58.583
25,104
66,142
1,500
8,800
43.058
56.465
13,106
25.001
931
1,222
18.750
40,045
1,500
16.666
204
12,704
81,626
34,894
7,459
257,539
16,7521
(2831
1,379
17,8661
1451
1451
129.9281
12.6861
75
156.363}
11,000
216
216
1.730
12,875
53,428
65,327
15.339
412,809
7.955
205,939
5,694
De$ignAted Funds
92.289
28,973
1100.093}
451
21,620
Unrestricted Fund5
5,313
5,313
TotAI Fundj
303,541
286.512
1156,456
6.145
439,742
At
31 Awgust
2021
Total
Angly515 of net assets btiween fuThds
Fixed AJ5et
Inve5tnLents
Current
A$sttx
Current
Unre5triclcd Funds
Desigrtated Funds
Restricied Funds
5,313
5,313
21,620
412,809
21.620
273,177
151,8831
294,797
196,828
51.883
439.742
15

THE MONMOUTH SCHOOLS, CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUCUST 20Z2
l¢ontin¢iedl
9 Statement of FinHnciAI Attlvlties for tht year eniring 31 Augu51202I
Unrestricted Deslgn8trd
Funds
Fund5
Restricttd
Futhds
Total
2021
Intorne from..
Donaiions
Inyesimenis
28.549
424
252,190
5,349
280.739
5,773
Total income
?8.973
257,539
286,512
Expertditure on:
Ralsing fund5
riindrai51ng & D¢v¢lapment
Invcstmeni manageineni
l.ess.' Contribution Irom Monmouih Srhwl
84.475
84,475
1.263
84,475
1.263
93
84.475
93
ChAri¢able A¢tivit1¢5
Bur5aTies
100.000
55.193
TotAI expenditure
100,093
56,363
156,456
￿1￿ gains on Inve￿MentS
451
5,694
6,145
Net expenditur¢
70.669
206.870
136.201
Net movtmtnt in funds
170,6691
206.870
156.201
Reeon¢ÈllatioN of funds
Toial funds brought foTward
I SLplember 2020
TotAI funds CArritd fonvanl
31 Au2USt 2021
5,313
92,289
205.939
303,541
5.313
21,620
412.809
439.742
16