**CHARITY NO: 1159943**
**READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
# **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 MARCH 2025**
**PRINCIPAL OFFICE** Reading Blue Coat School Holme Park Sonning Lane Sonning Reading RG4 6SU **TRUSTEES** P Bertram C Hubbard (resigned 15 May 2025) Rev. Chris Jones (appointed 15 May 2024) E Quinton (appointed 15 May 2024, resigned 15 January 2025) M Swan T Tabrah (resigned 30 April 2024) P Thomas M Walker A West (appointed 30 April 2024) H Williams **CLERK TO THE TRUSTEES** C Walsh (resigned 10 November 2025) G Cadwell (appointed 10 November 2025) **TREASURER TO THE TRUSTEES** S Whitty (resigned 10 November 2025) G Cadwell (appointed 10 November 2025) **CHARITY REGISTRATION NUMBER** 1159943 **INDEPENDENT EXAMINERS** Crowe U.K. LLP R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ **BANKERS** Lloyds Bank PLC 1-2 Market Place Reading RG1 2EQ **SOLICITORS** Boyes Turner LLP Abbots House Abbey Street Reading RG1 3BD **INVESTMENT ADVISORS** Quilter Cheviot Senator House 85 Queen Victoria Street London EC4V 4AB
Page 1
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report for the year ended 31 March 2025 under the Charities Act 2011, together with the financial statements for that period and confirm that the latter comply with the requirements of the Act, the Constitution and the Charities SORP FRS 102.
## **Structure, Objects and governance.**
The Reading Blue Coat and Archbishop Laud Charitable Trust was registered on 14 January 2015 as a Charitable Incorporated Organisation (CIO). On 31 March 2015, all the assets and undertaking of the Reading Blue Coat School Foundation (Charity Registration Number 309024) were transferred to the CIO together with those of the Archbishop Laud Non-Educational Charity (Number 307987). Historically, Trustees of the Reading Municipal Church Charities were appointed to be the Trustees of a number of Church related charities, the largest of which by far was the Reading Blue Coat School Foundation. By 2015, the Reading Blue Coat School Foundation and the Archbishop Laud Charitable Trust were the only two remaining church related charities, so the decision was made to merge the two together, and form a new CIO.
The former Reading Blue Coat School 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 created by the Secretary of State for Education and Science under the Charities Act 1960 dated 30 April 1964, which consolidated all the underlying gifts, and subsequent amendments.
The two Objects of the CIO, reflecting the Objects of the former Reading Blue Coat School Foundation and the Archbishop Laud Non-Educational Charity, are:
1. The first object of the CIO, reflecting the object of the Reading Blue Coat School Foundation, is to advance the education of children and young people under the age of 25 years by:
- a. the provision of a day and/or boarding school in or near Reading in which religious instruction in accordance with the doctrines of the Church of England shall be given.
- b. the award of scholarships, bursaries or maintenance allowances to beneficiaries tenable at the School or at any university or other place of learning; provided that the charity trustees shall maintain in the School six scholarships, comprising total or partial remission of tuition or boarding fees, to beneficiaries found fit for admission to the School who reside within a ten mile radius of the School;
- c. the provision of grants, outfits, clothing, tools, instruments or books to help beneficiaries on leaving the School, a university or any other educational establishment, to prepare for, or enter, a profession, trade or calling;
- d. the award of scholarships or maintenance allowances to enable beneficiaries to travel abroad to pursue their education;
- e. the provision, or assistance towards the provision, of facilities for recreation and social and physical training, including the provision of coaching in athletics, sports and games, for beneficiaries;
- f. the provision of grants to enable beneficiaries to study music or other arts; and
- g. the provision of grants, items, services and facilities at the following schools in Reading:
- i. All Saints Church of England Infants School, Brownlow Road;
- ii. St John’s Church of England Primary School;
- iii. St Mary’s and All Saints Church of England Primary School; and
- iv. Any other school within a forty mile radius of the School at the CIO’s discretion
2. The second object of the CIO, reflecting the object of the Archbishop Laud Non Educational Charity, is the provision of financial assistance to young men and women between the age of 8 to 30 years inclusive, educated in, residing in or from the vicinity of Reading, to support them in training for a trade or vocation through the making of grants as follows:
Page 2
**READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
- a. Young men and women between the age of 16 – 30 inclusive may be awarded training grants of up to £1000 per individual, per annum, towards the cost course fees, equipment, learning resources, travel expenses or uniform required for the course, where the trustees are satisfied that the applicant has entered into a course of training and has need of financial assistance. Applicants undertaking a multi-year course are eligible for up to three grants; and
- b. Girls and boys between the age of 8 – 15 inclusive may be awarded training grants of up to £300 per individual, per annum, towards the cost of course fees, equipment, learning resources, travel expenses or uniform required for the course, where the trustees are satisfied that the applicant is in education and has need of financial assistance
The governance and management of the CIO is carried out in accordance with its constitution. There are four ex-officio trustees who have the power to co-opt not less than five and not more than ten additional trustees. The ex-officio trustees are: the vicar of the ecclesiastical parish of St Mary, Reading; the vicar of the ecclesiastical parish of St Laurence, Reading; the Head of Reading Blue Coat School; and the Bursar of Reading Blue Coat School.
## **Decision-Making**
The Trustees retain responsibility for all strategic decisions, including setting the Charity’s objectives, approving budgets, and determining reserves and investment policies. Operational decisions, such as dayto-day administration and implementation of approved strategies, are delegated to the clerk and treasurer under clear authority frameworks. Regular reporting ensures Trustees maintain oversight of delegated activities.
## **Trustee Induction and Training**
New Trustees receive a comprehensive induction pack outlining the Charity’s governing documents, policies, and statutory duties. Induction includes meetings with senior staff and existing Trustees, as well as access to relevant training on charity governance and compliance. Ongoing development is supported through periodic briefings and external training opportunities when required.
## **Pay and Remuneration**
The remuneration of key management personnel is reviewed annually by the Trustees. Pay is set using sector benchmarks and considers the Charity’s size, complexity, and financial position. The Trustees aim to ensure remuneration is fair, competitive, and aligned with the Charity’s objectives, while maintaining transparency and accountability.
## **Relationships with Related Parties**
The Charity maintains close relationships with Reading Blue Coat School. This partnership enables collaboration on bursary provision and educational initiatives. All related-party transactions are conducted on an arm’s-length basis and disclosed in accordance with statutory requirements
## **Grant making policy**
The Charity has three principal grant making objectives:
- (i) The Charity grants money to the Reading Blue Coat School for its Foundation Scholarships which are means-tested bursaries covering full fees and additional supplementary costs. At least one Trustee sits on the School’s Bursary Committee, alongside Officers of the School, which determines successful applicants following an assessment of educational potential, merit and the financial means of applicants.
- (ii) The Charity makes grants to the three schools known as the National Schools of Reading, and / or any other school within a 40-mile radius of Reading Blue Coat School, as determined by the Trustees on an annual basis.
- (iii) The Charity also makes grants ranging from £300 up to £1,000 to individuals who meet the criteria within the second object of the Trust.
Page 3
**READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **Investment policy**
The Trust's funds are invested to produce an attractive financial return with an acceptable level of risk over the long term. The primary investment objective is to generate a high and sustainable annual income (net of investment management fees) to support the grant making objects, whilst striking a balance between generating long-term income and capital returns. With the rental income from the School providing more than 30% of the normal annual income expended, the Trustees are able to accept a medium to higher level of risk with regard to long term investments in order to grow the real capital value of the funds over time. The Trust's constitution provides for the lease to the School of the freehold land, in meeting its first objectives, but otherwise does not place any restriction 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 investment subcommittee of Trustees sets the investment objectives and risk profile for the 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 to meet unforeseen bursarial requirements. Whilst the Trustees have chosen not to invest directly into tobacco stocks there are no ethical restrictions on investments.
## **Reserves policy**
The Trustees consider it essential to maintain adequate reserves to ensure the long-term fulfilment of the Charity’s primary objective: supporting bursaries for qualifying pupils. To achieve this, the Trustees have agreed that at the time of signing the accounts, the Charity should hold a reserve of approximately £5.1 million. This figure is not fixed and will fluctuate over time, particularly in response to market movements and changes in financial commitments.
Of the £5.1 million, £1.2 million represents the freehold land, with the remaining £3.9 million held in investment portfolios expected to yield approximately 3.6%. This level of yield is considered sufficient to meet anticipated bursary commitments while providing resilience against economic volatility through dividend income and realised gains. However, the value of invested reserves will inevitably vary with market performance and may rise or fall accordingly.
In setting this figure, the Trustees have taken into account:
- The School’s variable capacity to contribute to bursaries, which may be affected by economic conditions and facility investment.
- The need for the Trust to cover any shortfall to ensure that qualifying pupils are not denied support.
- The importance of maintaining an investment portfolio capable of generating consistent annual income to fund bursary grants.
Currently, **43 pupils** are in receipt of bursarial support. The reserves figure will be reviewed annually to reflect changes in commitments, market conditions, and investment performance
## **Review of the Year**
In considering its activities for the year the Trustees have had regard to the public benefit guidance 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 at year-end was £3,669,930 _(2024: £3,685,387)_ The Matheson Fund value at year-end was £390,129 _(2024: £391,504)_ The Archbishop Laud Fund value at year-end was £32,928 _(2024: £33,044)_
The property assets held by the Charity, namely the freehold land occupied by the School, were professionally re-valued at year-end in 2020 at £1,200,000. The prior year valuation has been carried forward for this year. The rental income from Reading Blue Coat School remains at £60,000 _(2024: £60,000)_ .
Page 4
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025**
In addition to the above funds held with the Investment Manager, the Charity also maintained cash balances at the year-end to the value of £241,523. 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 at £4,248,478 _(2024: £4,264,091)_ , the Matheson fund £252,084 _(2024: £252,974)_ and the Archbishop Laud Fund £25,928 _(2024: £26,044)._ These endowed funds will continue to be invested to produce income to meet the Charity’s objects.
## **Achievements, financial review and future plans**
In considering its activities for the year the Trustees have had regard to the public benefit guidance issued by the Charity Commission.
## Bursaries and Grants
In recent years, the Trustees have entered into an informal arrangement whereby the Charity makes an agreed contribution to the overall cost of bursaries with the School providing the balance. This has enabled 43 _(2024: 41)_ bursaries to be paid to successful applicants in this period. Awards from the General Fund were given at £135,000 _(2024: £135,000)_ to the Reading Blue Coat Bursary Scheme. The Matheson Fund awarded £nil _(2024: £14,000)_ to support children of Clergy at the School. Grants of £9,000 were made to primary schools in Reading during the year.
## Incoming Resources
The Trustees report incoming resources, net of investment management fees and governance costs, of £165,548 _(2024: £161,372)._
## Transfers to Reserves
Restricted Fund Reserves of £149,204 _(2024: £137,743)_ were held in relation to the Matheson Fund.
Any annual surplus funds available are held as a School Scholarship Fund. At year-end the Scholarship Fund held an undistributed balance of £810,181 _(2024: £788,127)._
## Future Plans
The charity has no changes planned with regard to its activities.
By Order of the Board of Trustees on 30 January 2026
## **P Bertram Chairman**
Page 5
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|Notes
**INCOMING RESOURCES**
Investment income
2
Rental income
3
**_Total incoming resources_**
**RESOURCES EXPENDED**
**Costs of raising funds**
Investment management
**Charitable activities**
Scholarships awarded
4
Archbishop Laud Grants
4
National Schools of
Reading
4
**_Total resources expended_**
Investment gains /(losses)
6
**Net incoming resources**
**and movement in funds**
9
Fund balances brought
forward
9
**Fund balances carried**
**forward**
9|**Endowment**
**Funds**
**£**
-
-
-
13,492
-
-
-
13,492
(3,127)
(16,619)
4,543,109
4,526,490|**Restricted**
**Funds**
**£**
12,128
-
12,128
-
182
-
-
182
(485)
11,461
137,743
149,204|**Unrestricted**
**Funds**
**£**
126,970
60,000
186,970
8,994
145,882
5,947
9,000
169,823
-
17,147
802,594
819,741|**2025**
_2024_
**Total**
_Total_
**£**
_£_
**139,098**
_131,900_
**60,000**
_60,000_
**199,098**
_191,900_
**22,486**
_20,497_
**146,064**
_159,031_
**5,947**
_1,355_
**9,000**
_(4,500)_
**183,497**
_176,383_
**(3,612)**
_394,953_
**11,989**
_410,470_
**5,483,446**
_5,072,976_
**5,495,435**
_5,483,446_|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
||||||
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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 2025**
||Notes||**2025**|**2025**|_2024_|
|---|---|---|---|---|---|
|||**£**||**£**|_£_|
|**FIXED ASSETS**||||||
|Tangible fixed assets|5||**1,200,000**|**1,200,000**|_1,200,000_|
|Investments|6||**4,092,987**|**4,092,987**|_4,109,935_|
||||**5,292,987**|**5,292,987**|_5,309,935_|
|**CURRENT ASSETS**||||||
|Debtors|7|**29,431**|||_27,043_|
|Current asset investment – bank deposits||**200,000**|||_150,000_|
|Cash at bank and in hand||**41,523**|||_64,930_|
|||**270,954**|||_241,973_|
|**CREDITORS**: Amounts falling due within||||||
|one year|8|**(68,506)**|**(68,506)**||_(68,462)_|
|**NET CURRENT ASSETS**||||**202,448**|_173,511_|
|**TOTAL NET ASSETS**|||**5,495,435**|**5,495,435**|_5,483,446_|
|**ENDOWMENT FUNDS**||||||
|Capital General Fund|9||**3,048,478**|**3,048,478**|_3,064,091_|
|Capital Archbishop Laud|9|||**25,928**|_26,044_|
|Property|9||**1,200,000**|**1,200,000**|_1,200,000_|
|Matheson Scholarship|9|||**252,084**|_252,974_|
|**RESTRICTED FUNDS**||||||
|Matheson Scholarship|9|||**149,204**|_137,743_|
|**UNRESTRICTED FUNDS**||||||
|School Scholarship|9|||**810,181**|_788,127_|
|Archbishop Laud|9|||**9,560**|_14,467_|
||||**5,495,435**|**5,495,435**|_5,483,446_|
Approved by the trustees on 30 January 2026 And signed on its behalf by
## **P Bertram Chairman**
The notes on pages 8 - 16 form 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 2025**
## **1. STATEMENT OF ACCOUNTING POLICIES**
## **a) Basis of Accounts Preparation**
The accounts have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Reading Blue Coat and Archbishop Laud Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b) Going Concern**
The charity has cash resources and has no requirement for external funding. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
Having regard to the above, the Trustees believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
## **c) Critical accounting judgements and key sources of estimation uncertainty**
In the application of the charity’s accounting policies, which are described in note 1, trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimation and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if 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 uncertainty affecting the assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
## **d) 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 transaction value and subsequently measured at their settlement value.
Page 8
# **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES (continued)**
## **e) Income**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
- Investment income is included when receivable.
- Incoming resources from charitable trading activity are accounted for when earned.
## **f) Expenditure**
Expenditure is recognised on an accrual basis as each liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, for example, governance costs.
Charitable expenditure is reported under the following sub-headings:
- Scholarships awarded
- Archbishop Laud Grants
- National Schools of Reading
## **g) Grants - Scholarships**
Scholarships payable are recognised as expenditure in the year in which a binding commitment to make payments is entered into.
## **h) Fund Accounting**
Unrestricted funds held by the charity are those which can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds are where specific conditions are imposed by the donor which restricts the use of unspent funds. The income is taken directly to the relevant restricted funds.
The endowment fund represents those assets which must 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 attributable to the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
The expendable endowment fund is similar to that of the endowed fund. However, the trustees have the power to apply both capital and income arising on the fund in accordance with the Matheson will. Any capital gains or losses arising on the investments are attributable to the fund. Investment management charges and legal advice relating to 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 2025**
## **1. ACCOUNTING POLICIES (continued)**
## **i) Tangible Fixed Assets**
These are represented by freehold land and are held under the revaluation model. Trustees will review the fair value of all investment properties at each year-end. A RICS-qualified valuer will be engaged periodically (at least every 3–5 years or when market conditions materially change). In years without a professional valuation, trustees will estimate fair value using recent comparable market transactions, local property indices and rental yield analysis
## **i) Investments**
Investments are a form of basic financial instrument and are initially recorded at their transaction value and subsequently valued at closing mid-market value at the Balance Sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
## **k) Cash and cash equivalents**
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Cash deposits with longer maturity dates are accounted for as current asset investments.
## **l) Debtors**
Debtors are recognised at the settlement amount due after any trade discount offered.
## **m) Creditors**
Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
## **2. INVESTMENT INCOME**
|Equity and GILT edged stocks - General Account
Equity and GILT edged stocks - Matheson Bequest
Equity and GILT edged stocks - Archbishop Laud
Deposit interest|**2025**
**£**
**116,662**
**12,128**
**1,040**
**9,268**
**139,098**|_2024_
_£_
_117,700_
_11,276_
_952_
_1,972_
_131,900_|
|---|---|---|
## **3. RENTAL INCOME**
|Reading Blue Coat School|**2025**
**£**
**60,000**|_2024_
_£_
_60,000_|
|---|---|---|
Page 10
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **4a. RESOURCES EXPENDED – CHARITABLE ACTIVITIES**
|**2025**
Scholarships
Matheson Scholarship
Total scholarships
Archbishop Laud Grants
National Schools of Reading
_2024_
_Scholarships_
_Matheson Scholarship_
_Total scholarships_
_Archbishop Laud Grants_
_National Schools of Reading_
Governance costs:
Clerk and Treasurer’s Honorarium
Independent Examiners Fee
Professional fees
Sundry items|**Direct**
**£**
135,000
-
135,000
5,947
9,000
**149,947**
_135,000_
_14,000_
_149,000_
_1,355_
_(4,500)_
_145,855_||**Governance**
**£**
10,882
182
11,064
-
-
**11,064**
_9,849_
_182_
_10,031_
_-_
_-_
_10,031_
**2025**
**£**
**4,095**
**4,428**
**2,375**
**166**
**11,064**|**Governance**
**£**
10,882
182
11,064
-
-
**11,064**
_9,849_
_182_
_10,031_
_-_
_-_
_10,031_
**2025**
**£**
**4,095**
**4,428**
**2,375**
**166**
**11,064**|**Total**
**£**
**145,882**
**182**
**146,064**
**5,947**
**9,000**
**161,011**
_144,849_
_14,182_
_159,031_
_1,355_
_(4,500)_|
|---|---|---|---|---|---|
||||||_155,886_
_2024_
_£_
_3,919_
_4,800_
_1,120_
_192_
_10,031_|
|||||||
Page 11
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5. TANGIBLE FIXED ASSETS**
|At 1 April 2024
Revaluation
**At 31 March 2025**|**Freehold**
**Land**
**£**
1,200,000
-
1,200,000|
|---|---|
The carrying value of tangible fixed assets substantially relate to freehold land on which the school buildings stand.
The property was valued on a fair value basis by Dunster & Morton in March 2020. A carrying amount of £300,000 (2024 £300,000) would have been recognised if the land had been carried under the historic cost model.
## **6. FIXED ASSET INVESTMENTS**
|**Listed investments:**
Market Value at 1 April 2024
Additions
Disposals
Net Investment gain/(loss)
Cash held by Stockbroker
**Market Value at 31 March 2025**
**Historic Cost**
**7.**
**DEBTORS**
Other debtors
**8.**
**CREDITORS**
Other creditors, accruals and deferred income|**2025**
**£**
**4,070,785**
**320,723**
**(385,367)**
**(3,612)**
**4,002,529**
**90,458**
**4,092,987**
**3,537,832**
**2025**
**£**
**29,431**
**2025**
**£**
**68,506**|_2024_
_£_
_3,649,620_
_471,012_
_(444,799)_
_394,953_
_4,070,785_
_39,150_
_4,109,935_
_3,516,225_
_2024_
_£_
_27,043_
_2024_
_£_
_68,462_|
|---|---|---|
Page 12
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **9a. FUNDS**
|**2025**
**ENDOWMENT**
Capital
Archbishop Laud
Property
Matheson
Scholarship
**RESTRICTED**
Matheson
Scholarship
**UNRESTRICTED**
Scholarship
Archbishop Laud
**Total**|_1 April_
_2024_
_£_
_3,064,091_
_26,044_
_1,200,000_
_252,974_
_4,543,109_
_137,743_
_788,127_
_14,467_
_802,594_
_5,483,446_|**Incoming**
**resources**
**£**
**-**
**-**
**-**
**-**
**-**
**12,128**
**185,930**
**1,040**
**186,970**
**199,098**|**Transfers**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Investment**
**losses**
**£**
**(2,121)**
**(116)**
**-**
**(890)**
**(3,127)**
**(485)**
**-**
**-**
**-**
**(3,612)**|**Resources**
**expended**
**£**
**(**1**3,492)**
**-**
**-**
**-**
**(**1**3,492)**
**(182)**
**(163,876)**
**(5,947)**
**(169,823)**
**(183,497)**|**31 March**
**2025**
**£**
**3,048,478**
**25,928**
**1,200,000**
**252,084**
**4,526,490**
**149,204**
**810,181**
**9,560**
**819,741**
**5,495,435**|
|---|---|---|---|---|---|---|
## **TRANSFERS BETWEEN FUNDS**
- a) 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.
Page 13
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **9b. COMPARATIVE FUNDS**
|_2024_
_ENDOWMENT_
_Capital_
_Archbishop Laud_
_Property_
_Matheson_
_Scholarship_
_RESTRICTED_
_Matheson_
_Scholarship_
_UNRESTRICTED_
_Scholarship_
_Archbishop Laud_
_Total_|_1 April_
_2023_
_£_
_2,721,319_
_22,940_
_1,200,000_
_229,337_
_4,173,596_
_127,507_
_757,003_
_14,870_
_771,873_
_5,072,976_|_Incoming_
_resources_
_£_
_-_
_-_
_-_
_-_
_-_
_11,276_
_179,672_
_952_
_180,624_
_191,900_|_Transfers_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Investment_
_gains_
_£_
_355,070_
_3,104_
_-_
_23,637_
_381,811_
_13,142_
_-_
_-_
_-_
_394,953_|_Resources_
_expended_
_£_
_(12,298)_
_-_
_-_
_-_
_(12,298)_
_(14,182)_
_(148,548)_
_(1,355)_
_(149,903)_
_(176,383)_|_31 March_
_2024_
_£_
_3,064,091_
_22,044_
_1,200,000_
_252,974_|
|---|---|---|---|---|---|---|
|||||||_4,543,109_|
|||||||
_137,743_|
|||||||
_788,127_
_14,467_|
|||||||
_802,594_|
|||||||
_5,483,446_|
## **10a. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**2025**
**Endowment**
**Restricted**
**£**
**£**
Tangible fixed assets
1,200,000
-
Investments
3,326,490
149,204
Current assets
-
-
Current liabilities
-
-
4,526,490
149,204
**OMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS**
_2024_
_Endowment_
_Restricted_
_£_
_£_
_Tangible fixed assets_
_1,200,000_
_-_
_Investments_
_3,343,109_
_138,530_
_Current assets_
_-_
_3,879_
_Current liabilities_
_-_
_(4,667)_
_4,543,109_
_137,742_|**Unrestricted**
**£**
-
617,293
270,954
(68,506)
819,741
_Unrestricted_
_£_
_-_
_628,296_
_238,094_
_(63,795)_
_802,595_|**Total funds**
**£**
**1,200,000**
**4,092,987**
**270,954**
**(68,506)**
**5,495,435**
_Total funds_
_£_
_1,200,000_
_4,109,935_
_241,973_
_(68,462)_
_5,483,446_|
|---|---|---|
## **10b. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Page 14
**READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **11. TRUSTEES BENEFITS AND TRANSACTIONS**
None of the trustees 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 senior solicitor. Slade Legal have been engaged to provide legal services to the Trust. There were no accrued costs at the year-end in relation to these services ( _2024: £nil_ ).
## **12. FINANCIAL INSTRUMENTS**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Financial assets measured at amortised cost|**270,954**|_241,972_|
|Financial liabilities measured at amortised cost|**68,506**|_68,462_|
Financial assets measured at amortised cost comprise other debtors and cash equivalents.
Financial liabilities measured at amortised cost comprise other creditors and accruals excluding deferred income.
## **13. LEASES**
The Charity earns rental income by leasing its property to a tenant under non-cancellable operating leases. Leases in which substantially 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 (net of any incentives received from the lessor) are charged to the income statement on a straight-line basis over the period of the lease.
At the balance sheet date, the Charity had contracted with tenants to receive the following future minimum lease payments:
|Not later than one year
Later than one year and not later than five years
Later than five years|**2024**
**£**
**60,000**
**30,000**
**90,000**|_2024_
_£_
_60,000_
_90,000_
_-_
_150,000_|
|---|---|---|
There are no contingent rents recognised as income.
Page 15
## **READING BLUE COAT AND ARCHBISHOP LAUD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **14. COMPARATIVE SOFA**
|_INCOMING RESOURCES_
_Investment income_
_Rental income_
_Total incoming resources_
_RESOURCES EXPENDED_
_Costs of raising funds_
_Investment management_
_Charitable activities_
_Scholarships awarded_
_Archbishop Laud Grants_
_National Schools of_
_Reading_
_Total resources expended_
_Net incoming resources_
_before investment (losses)_
_Investment gains / (losses)_
_Net movement in funds_
_Fund balances brought_
_forward_
_Fund balances carried_
_forward_|_Endowment_
_Funds_
_£_
_-_
_-_
_-_
_12,298_
_-_
_-_
_-_
_12,298_
_(12,298)_
_381,811_
_369,513_
_4,173,595_
_4,543,109_|_Restricted_
_Funds_
_£_
_11,276_
_-_
_11,276_
_-_
_14,182_
_-_
_-_
_14,182_
_(2,906)_
_13,142_
_10,236_
_127,507_
_137,743_|_Unrestricted_
_Funds_
_£_
_120,624_
_60,000_
_180,624_
_8,199_
_144,849_
_1,355_
_(4,500)_
_149,903_
_30,721_
_-_
_30,721_
_771,873_
_802.594_|_2024_
_Total_
_£_
_131,900_
_60,000_
_191,900_
_20,497_
_159,031_
_1,355_
_(4,500)_
_176,383_
_15,517_
_394,953_
_410,470_
_5,072,976_
_5,483,446_|
|---|---|---|---|---|
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 2025, 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.
A R Lyon Crowe U.K. LLP Chartered Accountants R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ
Date: 30 January 2026
Page 17