2023-03-31-accounts

CHARITY NO: 1159943 READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 MARCH 2023 PRINCIPAL OFFICE Reading Blue Coat School Holme Park Sonning Lane Sonning Reading RG4 6SU TRUSTEES C Hubbard H Williams P Thompson (resigned 10 May 20231 P Bertram A Gray M Walker lappoinled 9 November 20221 M Swan P Gillibrand (resigned 31 October 20221 T Tabrah P Thomas CLERK TO THE TRUSTEES P Hughes (resigned 14 July 20221 A Snow lappoinled 5 September 2022. resigned 27 February 20231 C Walsh lappoinled 27 February 20231 TREASURER TO THE TRUSTEES T van der Meijden (resigned 21 July 20221 K Nicholson (appointed S September 2022. resigned 16 December 20221 S Whilty lappoinled 27 March 20231 CHARITY REGISTRATION NUMBER 1159943 INDEPENDENT EXAMINERS Crowe U.K. LLP Aquis House 49- 51 Blagrave Street Reading Berkshire RG1 1PL BANKERS Lloyds Bank PLC 1-2 Market Place Reading RG12EQ SOLICITORS Slade Legal 5 Ock Street Abingdon Oxon OX14 SAL INVESTMENT ADVISORS QUi￿er Cheviol Senator House 85 Queen Victoria Street London EC4V4AB Page 1

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES, REPORT The Trustees present their annual report for the year ended 31 March 2023 under the Charities Act 2011, together with the financial slalemenls for that period and confirm that the laller comply with the reqLJiremenls of thè Act, the Trust Deed and the Charities SORP FRS 102. structure, Objects and governance. The Trust was registered on 14 January 2015 as a Charitable Incorporated Organisalion. On 31 March 2015. all the assets and undertaking of the Reading Blue Coal School Foundation (Charity Registration Number 3090241 were transferred lo the Trust together with those of the Archbishop Laud Non-Educalional Charity (Number 3079871 The former Foundation comprised a number of Gifts made over an extended period, of which the earliest and most important were by Richard Aldworth in 1646, Sir Thomas Rich in 1666 and William Malthus in 1700. The Foundation operated under a scheme made by the Secretary of Stale for Education and Science under the Charilies Act 1960 dated 30 April 1964, which Consolidated all the underlying gills, and subsequent amendments. The first Objects of the Trust, reflecting the Objects of the former Foundation, are.. to provide premises for Ihe Reading Blu8 Coal School being a day school near Reading in which religious instruction in accordance with the doctrines of the Church of England shall be given. the award of scholarships, bursaries or maintenance allowances lo beneficiaries tenable at the School or al any University or other pla￿ of learning who may reside within a ten mile radius of the School. the provision of items, services or facilities al three specified Infants or Primary Schools in Reading known as the National Schools of Reading, as well as any other school within a len mile radius of the School al the CIO'S discretion. The former Foundation also contained a funLf known as the Malheson Scholarship fund which is governed by the Will of the late David M Malheson, This provides for the income of the fund lo be first applied to the education of children of Clergy in the Church of England al the Reading BILJe Coal SchoDI, bul in the event of there being no suitable applicants the Trustees have discretion lo ulilise the income in accordan￿ with the above objects. The Trustees have discretion lo ulilise the capital of the fund should the income be insufficient to provide the benefits. Whilst the Trustees would resist any such application of capital, the fund is technically under the category of Exp8ndabSe Endowment. The second Object of the Trust reflec15 the objects of the former Archbishop Laud Non-Edu¢alional Charity which was consliluted by a Deed of Gift dated 26 March 1640. This separate fund is lo provjde fin8n¢ial assistance lo young people between the ages of 810 30 inclusive, educated in, residing in, orfrom the vicinity of Reading. lo support them in training for a trade or vocation through the making of grants. The governance and management of the Trust is carried out in accordance with its conslilulion. There are four ex-officio Iruslees who have the power lo co-opt not less than live and not more than len additional Iruslees. The ex-offi¢io trustees are.. the Vicar of the ecclesiastical parish of St Mary, Reading., the Vicar of the ecclesiastical parish of Sl Laurence, Reading., the Head oflhe Reading Blue Coat School.. and the Bursar of Reading Blue Coal School. Unfortunately. due lo other commilmenls, neither vicar was able lo lake up these posts during the year. Co-opted trustees serve for a period of five years. During the year the Trustees conducted a review of the grant making prO￿sS of the Archbishop Laud Foundation in order lo widen the scope of eligible beneficiaries and improve the effectiveness of the grant giving process. The original intentions of the Foundatton have been retained. Page 2

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2023 Grant maklng policy The Charity has three principal grant making objectives.. The Charity grants money lo the Reading Blue Coal School for ils bursary scheme. Scholarships and Bursaries are awarded lo individual applicants by a Committee of Trustees and Officers of the School who determine the awards of up lo 10Wo of fees following an assessment of educational polenlial. merit and the financial means of applicants. The Charity makes further grants lo the three schools known as the National Schools of Reading as determined by the Trustees on an annual basis. The Charity also makes grants ranging from £300 up lo £1,000 lo individuals who meet the criteria within the second object of the Twsl. Investment policy The Trust's funds are invested lo produce an allraclive financial return with an acceptable level of risk over the long term. The primary investment objective is lo generate a high and sustainable annual income Inel of inveslmenl management feesl lo support the grant making objects, whilst striking a balan￿ between generating long-lerm income and ¢apilal returns. With the rental income from the School providing more than 30Qkn of the normal annual income expended, the Trustees are able lo a¢¢epl a medium lo higher level of risk with regard lo long term investments in order lo grow the real capital value of the funds over lime. The Trust's conslilulion provides for the lease lo the School of the freehold land, in meeting its first objective8, bul othen￿lSe does not place any reslriclion on the investment policy of the Trustees. Portfolio investments are managed on a discretionary basis whereby the investment manager has control over the investments within the formal guidelines of the investment policy of the Trust. An inveslmenl sub- commillee of Trustees sets the investment objectives and risk profile forlhe Trust and monitors performance. The investment funds are invested in a diversified portfolio of equities. mutual funds, bonds with a prudent cash balance held in order lo meet unforeseen bufsarial requirements. Vvhilsl the Trustees have chosen not to invest directly into tobacco stocks there are no ethical reslriclions on inveslmenls. Reserves policy The Trustees consider that il is important lo maintain and add to reseNes when possible. in order lo fulfil the first object of the Charity over the long run. In doing so, the Trustees lake into account the School's ability to rnake ils own conlribulion lo bursaries, which can be affected by many factors including the economy and the need for investment in new or improved facilities. as they have agreed that the Trust should endeavour lo cover, where possible. any shortfall to avoid qualifying pupils being denied SLJPPOrt. Through this process, the Charily helps to provide bursaiial support to a number of pupils al the school. Fifty pupils are currently in receipt ol bursaries. Review of the Year In considering ils aclimties for the year the Trustees have had regard lo the publi¢ benefit guidan￿ issued by the Charity Commission. Investment Performance The three investment funds showed a decrease in value over the course of the year. The General Fund value al year-end was £3.339,99412022.' £3,564, 138) The Malheson Fund value at year-end was £354,72512022.' £387, 7201 The Archbishop Laud Fund value al yoar-end was £29,94012022." £32,822) Page 3

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2023 Investment Performance Icontinuedl The property assets held by the Charity, namely the freehold land occupied by the School, were professionally re-valued al year-end in 2020 al £1,2(KI,000 The piioryear valLialion has been carried forward for this year. The rental income from Reading Blue Coal School increased lo £60,000 (2022.. £56,500). In addition lo the above funds held with the Investment Manager, the Charity also m8inlained cash balances al the yearend lo the value of £191.878. The Trustees have agreed that a minimum sum of £50.000 should be retained on bank deposit to meet any immediate demand on reserves. After movements in the values of land and investments, the endowed funds of the General Fund stood al £3,921.319 12022.. £4, 143,3511, the Malheson fund £229,337 (2022.. £250,395) and the Archbishop Laud Fund £22,940 (2022., £25,822). These endowed funds will continue lo be invested lo produce income lo meet the Charity's objects. Achlevements, financial review and future plans In considering rts activities for the year the Trustees have had regard to the public benefit guidance issued by the Charity Commission. Bursaiies and Grants In re￿nt years, the Trustees have entered into an informal arrangement whereby the Charity makes an agreed contribution lo the overall Cost of bursaries with the School providing the b818n¢e. This has enabled 5012022.. 441 bursaries lo be paid to successful applicants in this period. Awards from the General Fund were maintained al £125,000 (2022.. £125,OOOJ lo the Reading Blue Coal Bursary Scheme. Awards from the Malheson Fund were made at £14,000 12022.. £28,000) for bursarial support of children of Clergy al the school. Grants made lo the National Schools of Reading were maintained al £4,500. Incomin Resources The Trustees report incoming resources, net of investment management fees and governance costs, of £153,82512022.. £179, 125). Transfers lo Reserves Restrided Fund Reserves of £127,507 12022.. £141,934) were held in relation lo the Malheson Fund and £14,87012022.. £14,368) held in lelalion lo the Ar¢hbishop Laud Fund. Any annual surplus funds available are held as a School Scholarship Fund. At year-end the Scholarship Fund held an undistribuled balance of £757,003 f2022.' £733, 145). Page 4

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Achlevements, financial review and future plans Icontlnued} Future Plans The ¢harity has no changes planned with regard lo ils activities. rde 17r°°r- 2023 Chairman Page 5

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Notes Endowment Funds Restrlcted Funds Unrestrlcted Funds 2023 Total 2022 Total INCOMING RESOURCES Investment income Rental income 11,692 111,653 123,345 752,908 Total incomffng resources 171653 183345 209 408 RESOURCES EXPENDED Costs of raising funds Investment management Charitable activities Scholarships awarded Archbishop Laud Grants National Schools of Reading 12,030 8,020 20,050 22,556 14.182 134,088 485 148,270 4B5 160,527 Total resources expended 147 293 173 505 187 783 Net Incoming resources before investment gains/losses 112,0301 12,490) 24,360 9.840 21,625 Revaluation of fixed assets Investment gains I {losses) 233 43 245 879 248 558 Net movement In funds 1245,9731 114,427) 24.360 1236,0391 270, 183 Fund balances brought forward 4 419 568 141934 747 513 5 309015 5 038 832 Fund balances carrled forward 507297 5 309 015 The notes on pages 8 - 16 form part of these accounts Page 6

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST BALANCE SHEET 31 MARCH 2023 Notes 2023 2022 FIXED ASSETS Tangible fixed assets Investments 1.200,000 3 724 659 1,200,000 3 984 680 4,924,659 5. 184, 680 CURRENT ASSETS Deblois Cash at bank and in hand 24,767 191 878 26,500 165357 216,645 191,857 CREDITORS.. Amounts falling due within one year 67522 NET CURRENT ASSETS 148317 124 335 TOTAL NET ASSETS ENDOWMENT FUNDS Capital General Fund Capital Ar¢hbishop Laud Property Malheson Scholarship RESTRICTED FUNDS Malheson Scholarship UNRESTRICTED FUNDS School Scholarship Archbishop Laud 2.721,319 22,940 1,200.000 229,337 2,943,351 25,822 7.200,000 250.395 127,507 141,934 757.003 733, 145 Approved by the Iruslees on And on ils behalf by 2023 C Hubbard Chairman The notes on pages 8- 16 fomi part of these accounts Page 7

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF ACCOUNTING POLICIES Basis of Accounts Preparation The accounts have been prepared in accordan￿ with the Charities SORP {FRS102} applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities A¢1 2011 and UK Generally Accepted Practice as il appliès from 1 January 2015. The accounts have been prepared lo give a 'lrue and tairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required lo provide a'lrue and fair view.. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportang Standard applicable in the UK and Republic of Ireland IFRS1021 Reading Blue Coat and Archbishop Laud Charitable Trust meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy note. bl Going Concern The charity has cash resources and has no requirement for exiernal funding. The Trustees have a reasonable expectation that the charity has adequate reSoUr￿S lo continue in operational existence for the foreseeable future. Having regard to the above. the Trustees believe il appropriate lo adopt the going concern basis of accounting in preparing the financial slalements. Critical accounting judgements and key sources of estlmatlon uncgrtainty. In the application of the charity's accounting policies, which are desciibed in note 1, trustees are required lo make judgements. estimates and assumptions about the carrying value of assets and liabilities that are nol readily apparent from other SOU￿$. The eslimalion and underlying assumptions are based on historical experience and olherfaclors that are considered lo be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the eslimale is revised il the revision affects only that period, or in the period of revision and future periods if the revision affects the current and future periods. In the view of the trustees. no assumptions concerning the future or estimation uncertainly affecting the assets and liabilities al the balance sheet dale are likely lo result in a material adjuslmenl lo their carrying amounts in the next financial year. dl Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransaclion value and subsequently measured 81 their solllemenl value. Page 8

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Icontinuedl èl Income All incoming resources are included in the slalemenl of financial activities when the charity enlilled lo the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied lo particular categories ot income.. Investment income is included when receivable. Incoming resources from charitable trading activity are accounted for when eamed. Expendlture Expenditure is recognised on an accrual basis as each liability is incurred. Charitable expenditure comprises those costs incurred by the Chaiily in the delivery of ils activities and ServI￿S for ils beneficiaries.11 includes both costs that can be allocated directly lo such activities and those ¢osls of an indirect nature necessary lo support them. for example, governance costs. Charf(able expenditure 18 reported under the following sub headings.. Scholarships awarded. Archbishop Laud Grants National Schools of Reading gl Grants - Scholarships Scholarships payable are recognised as expenditure in the year in wh￿h a binding commitment to make payments Is entered into. h) Fund Accounting Unreslricled funds held by the charity are those which can be used in accordance with the charitablè objectives al the discretion of the Trustees. Reslricled funds are where specific conditions are imposed by the donorwhich restricts the use of unspent funds. The income is taken directly lo the relevant restricted funds. The endowment fund represents those assets wh￿h musl be held permanently by the charity, principally quoted investments and freehold properties. Income arising on the endowment fund can be used in accordance with the objects of the charity. Any capital gains or losses arising on the investments are allribulable lo the fund. Investment management charges and legal advice relating to the fund are charged against the fund. The expendable endowment fund is similar lo that of the endowed fund. However. the Iruslees have the power to apply both capital and income arising on the fund in accordance with the Malheson will. Any Capital gains or losses arising on the inveslmenls are allribulable lo the fund. Investment management charges and legal advice relating lo the fund are charged against the fund. Page 9

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Icontinuedl il Tangible Fixed Assèts These are represented by freehold land and are held under the revaluation model. il Investments Investments are a form of basic financial instrument and are initially recorded al Iheirtrans8Ction value and subsequently valued at closing mid-markel value 81 the Balance Sheet dale. Any gain or loss on revaluation is taken lo the Slalemenl of Financial Activities. kl Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions rèpayable wilhoul penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than Ihrett months from the dale of acquisition and that are readily convertible to known amounts ol cash with insignificant risk of change in value 11 Debtors Debtors are recognised al the setllemenl amount due after any trade discount offered. ml Creditors Creditors and provisK)ns are recognised when the charity has a present obligation resultin9 from a past event that will probably result in the transfer of funds to a third party and the amount due lo sellle the obligation can be measured or eslimaled reliably. INVESTMENT INCOME 2023 2022 Equity and GILT edged slo¢ks - General A¢counl Equity and GILT ed9ed stocks - Malheson Bequest Equity and GILT edged stocks - Archbishop Laud Deposit interest 110,242 11.692 987 424 138,609 13,063 1, 159 77 RENTAL INCOME 2023 2022 Reading Blue Coat School Page 10

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 4a. RESOURCES EXPENDED- CHARITABLE ACTIVITIES 2023 Dlrect Governance Total Scholarshlps Malheson Scholarship Total scholarships 125,000 9,088 182 9,270 134,088 139,000 148,270 Archbishop Laud Grants 485 485 National Schools of Reading 200 2022 Scholarships Malheson Scholarship Tolal scholarships 125.000 7,345 182 7.527 132,345 153,000 160,527 Archbishop Laud Grants National Schools of Reading 200 Governance costs.. 2023 2022 Clerk and Treasurer's Honorarium Independent Examiners Fee Professional fees Sundry items 4.300 3.676 1,288 206 3,200 4,346 181 Page11

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 TANGIBLE FIXED ASSETS Freehold Land Al 1 April 2022 Revaluation 1,200,000 At 31 March 2023 The carrying value of tangible fixed assets subslanlially relate lo freehold land on which the school buildings sland. The property was valued on a fair value basis by Dunsler & Morton in March 2020. A carrying amount of £300,00012022 £300,000) would have been recognised if the land had been carried under the historic cost model. FIXED ASSET INVESTMENTS 2023 2022 Listed investments: Market Value al 1 April 2022 Additions Disposals Nel Investment gainlllossl 3,974.663 3,368,307 19,648 2,511,502 198,8121 (2, 153, 704) 245 879 3,649,620 3,974,663 Cash held by Stockbroker Market value at 31 March 2023 Historic Cost DEBTORS 2023 2022 Other debtors CREDITORS 2023 2022 other creditors. a¢cruals and deferred income Page 12

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 FUNDS 2023 1 Apnl 2022 Incoming rasources Investment Rasources losses expènded 31 March 2023 Transfers ENDOWMENT Capital Archbishop Laud Property Malheson Scholarship 2,943.351 25, 822 1,200,000 1210,0021 12,8821 112.0301 2,721.319 22,940 1.200,000 229 337 4419 568 233 942 4 173 596 RESTRICTED Malheson Scholarship 141934 UNRESTRICTED Scholarship Archbishop Laud 733, 145 170.666 987 1146,8081 485 757,003 747 513 171653 147 293 771873 Total TRANSFERS BETWEEN FUNDS al In 2022, the Iruslees took the decision lo reverse the designated fund back into the Scholarship fund and discontinue the annual transfer of 25¢k ol the nel incoming resources. bl The balance on the property fund is aligned with the value of fixed assets held. Any surplus or deficit in any year is transferred to the Capital fund. Page13

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 9b. COMPARATIVE FUNDS 2022 IAp 2021 Incoming rèsources Investmènt gains Resourc85 expended 31 March 2022 Tr8nsf8rs ENDOWMENT Capital Archbishop Laud Property Malheson Scholarship 2, 723,487 25,822 1,200.000 233,398 (13,534J 2,943,351 25,822 f,200,CKIO 241078 4 190 387 242 715 4 419568 RESTRICTED Malheson Scholarship 151210 141934 UNRESTRICTED SclK)larship Design8led Archbishop Laud 72, 776 611,250 195. 186 6f1.2&) (63 1,250) (146,067) 733. 145 697235 196 345 146 67 747513 Total 10a. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 Endowment Restricted Unrestricted Total funds Tangible fixed assets Investments Current assets Current liabilities 1,200,000 2.973.596 1,200,000 3,724,659 216,645 125.388 6,786 625.675 209,859 10b. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 EndoWn￿nI Reslrict8d Unreslncled Total funds Tangible fixed assets Investments Current assgls Current liabilities 1,200,000 3.2t9.568 1,200.CIOO 3,984,680 191,857 137.325 9.275 627. 787 182,582 Page 14

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 11. TRUSTEES BENEFITS AND TRANSACTIONS None of the Iruslees or any persons connected with them, received any remuneration or reimbursed expenditure during the period. The Trustee Mr M Swan is employed by Slade Legal as a senK)r solicitor. Slade Legal have been engaged lo provide legal services lo the Trust. A¢¢rued costs al the year end in relation lo these services were £168. 12. FINANCIAL INSTRUMENTS 2023 2022 Financial assets measured al amortised cost Financial liabilities measured al amortised cost 216,645 63,328 191, 857 62,522 Financial assets measured al amortised cost comprise other debtors and cash equivalents. Financial liabilities measured al amortised cost comprise other crodilors and accruals excluding deferred income. 13. LEASES The Charity earns rental income by leasing ils property to a lenanl under non-cancellable operating leases. Leases in which subslanlially all risks and rewards of ownership are retained by another party, the lessor, are classified as operating leases. Payments, including prepayments, made under operating leases Inel of any incentives received from the lessor) are charged lo the income statement on a slrai9hl-line basis over the period of the lease. Al the balance sheet dale. the Charity had contracted with tenants lo re¢6ive the following future minimum lease payments.. 2023 2022 Not later than one year Later than one year and not later than five years Lalor than five years 60.000 150,000 60,000 210.000 There are no conlingenl rents recognised as income. Page15

READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 14. COMPARATIVE SOFA Endowment Funds Restricted Funds UnreslriGted Funds 2022 Tol81 INCOMING RESOURCES Inveslmenl income Rental income 13,063 139,845 152,908 Total incoiyJNng resourc8S 196 345 209 408 RESOURCES EXPENDED Costs of rdising funds Inveslmenl management Charilable aclivili8S SChola￿hlps awarded Archbishop Laud Grants Nalional Schools of Reading 13.534 9.022 22.556 28, 182 132,345 160,527 Total resources exp8nded 146 067 187 783 Nel incoming resou￿S before investmenl (losses) (13.534) (15, 119) 50.278 21.625 Investment gains 242 715 248 558 Nfjl movement in funds 229, 181 (9,276) 50,278 270,183 Fund balan￿S brought fO￿ard 4 190387 151210 697 235 5 038 832 Fund balanc9s carri8d forward Page 16

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST

I report on the accounts of the Trust for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet and associated notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity's members as a body and the charity's trustees as a body for my independent examiner's work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

AR Lyon Crowe U.K. LLP Chartered Accountants Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1 PL

Date: 1 December 2023

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