**A Charitable Company Limited by Guarantee** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** Charity Registration Number 1167976 Company Number 10056045 **THE FITZWYGRAM FOUNDATION** ## **CONTENTS** _____________________________________________________________________ ||**Page**| |---|---| |Legal and Administrative Information|1| |Report of the Trustees|2-4| |Auditor’s Report|5-7| |Statement of Financial Activities|8| |Balance Sheet|9| |Statement of Cash Flows|10| |Notes to the Financial Statements|11-13| **THE FITZWYGRAM FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **___________________________________________________________________________________________** |**Trustees**|P Baker *| |---|---| ||N R G Basannavar| ||D L Coates *| ||S Crossley| ||S J Ellis| ||R Ghai| ||A R Gibbons *| ||J J Hamilton| ||J G Hedger| ||A E D Patterson| ||E T Watson| ||* Member of the Investment, Finance and Risk Committee| |**Company Secretary**|M A King| |**Registered Office**|Hampton School| ||Hanworth Road| ||Hampton| ||Middlesex| ||TW12 3HD| |**Website**|https://hamptonschool.org.uk/about/the-fitzwygram-foundation**/**| |**Registered Charity Number**|1167976| |**Registered Company Number**|10056045| |**Auditor**|HaysMac LLP| ||10 Queen Street Place| ||London| ||EC4R 1AG| |**Solicitors**|Farrer & Co| ||66 Lincoln’s Inn Fields| ||London| ||WC2A 3LH| |**Bankers**|Lloyds Bank| ||City Office, PO Box 72| ||Bailey Drive| ||Gillingham Business Park| ||Kent| ||ME8 0LS| |**Investment Advisers**|CCLA| ||Senator House| ||85 Queen Victoria Street| ||London| ||EC4V 4ET| 1 **THE FITZWYGRAM FOUNDATION** **REPORT OF THE TRUSTEES** **___________________________________________________________________________________________** We are very grateful to our many benefactors and supporters who are making support to Hampton School possible. Particular thanks go to our Founding Patrons and we hope that many more will follow. The Fitzwygram Foundation Office is staffed by a team seconded by Hampton School to the Fitzwygram Foundation. The Trustees are most grateful for their hard work, enthusiasm and commitment. Currently the only costs incurred are bank charges (see Note 4). The Trustees of the Fitzwygram Foundation present their annual report and the audited financial statements for the year ended 31 August 2025. ## **Constitution** The Fitzwygram Foundation is a Charitable Company Limited by Guarantee. Its governing document is the Memorandum and Articles of Association incorporated on 10 March 2016 as amended on 24 March 2022. ## **Governance** Hampton School Trust is the sole Member of the Fitzwygram Foundation. The Articles of Association requires that Trustees of the Foundation cannot also be on the Board of Governors of Hampton School. New Trustees are appointed by the Board of Trustees and induction is given when they join the Board. ## **Objects and Activities** The Foundation’s purpose is to advance education by providing funding to Hampton School. ## **Achievements, Performance and Financial Review** The net income for the year, including investment gains and losses, was £680,618 (2024: £11,120). Donations and legacies received amounted to £693,884 (2024: £177,078). ## **Principal Risks and Uncertainties** The Fitzwygram Foundation has adopted risk management and reserves policies in line with Charity Commission guidance and charged the Investment, Finance and Risk Committee with oversight of these matters. A substantial proportion of the Fitzwygram Foundation’s funds have been invested and this exposes it to investment performance risk. The Trustees consider that the use of independent investment advisers, who provide monthly portfolio reviews and attend the Investment, Finance and Risk Committee once a year, will mitigate this risk. The performance of the investment advisers is kept under review. The Trustees carry out an annual risk assessment and no other significant risks or uncertainties have been identified. ## **Public Benefit** The Trustees confirm that they have given due consideration to the Charity Commission's general guidance on public benefit. ## **Employees** The Fitzwygram Foundation currently has no employees. 2 **THE FITZWYGRAM FOUNDATION** **REPORT OF THE TRUSTEES (continued)** **___________________________________________________________________________________________** ## **Investment Policy and Performance** The current investment advisers are CCLA. The Fitzwygram Foundation aims to retain sufficient cash to meet short term commitments with the remaining assets being available for longer term investment. The current investment objective is for income from donations, fund raising and investments to provide sufficient income to support Hampton School. The long-term target is to achieve investment returns better than CPI. Ethical guidelines have been put in place to exclude or limit investment in certain industries. During the year the portfolio yielded £96,601 (2024: £92,339) in income. ## **Reserves Policy** The aim of the Fitzwygram Foundation is to raise funds to support Hampton School. The level of reserves at 31 August 2025 was £4,256,716 (2024: £3,221,447). The increase in reserves reflects the Foundation’s decision to take a more conservative approach and build its reserves in the short-term in light of recent sectoral changes affecting private education. ## **Fundraising Strategy** The Fitzwygram Foundation's current fundraising focus is on the Hampton School community, which includes alumni, current and former parents and current and former staff. We are most grateful to all those who have donated so far. The Fitzwygram Foundation is registered with the Fundraising Regulator and has complied with its regulations during the year. Trustees are aware of guidance provided by the Institute of Fundraisers and of their obligations with respect to vulnerable donors. No complaints have been received about the Fitzwygram Foundation 's fundraising activity. The Fitzwygram Foundation does not use a third party to raise funds on its behalf. The Fitzwygram Foundation Trustees meet regularly and consider all aspects of fundraising activity. Donations received in the year amounted to £693,884 (2024: £177,078). ## **Future Plans** Our future plans are to increase Fitzwygram Foundation funds to enable it to support Hampton School Trust going forward. 3 ## **THE FITZWYGRAM FOUNDATION** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE FITZWYGRAM FOUNDATION** _________________________________________________________________________________________________ ## **Opinion** We have audited the financial statements of The Fitzwygram Foundation for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 August 2025 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The Trustees are responsible for the other information. The other information comprises the information included in the Chair’s Report and Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees’ Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements. 5 **THE FITZWYGRAM FOUNDATION** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE FITZWYGRAM FOUNDATION (continued)** _________________________________________________________________________________________________ ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the directors’ report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the charitable company; or - the charitable company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. - The Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report. ## **Responsibilities of Trustees for the financial statements** As explained more fully in the Trustees’ responsibilities statement set out on page 4 **,** the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to taxation and Company and Charity law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011 and the Charities’ SORP. 6 ## ## **THE FITZWYGRAM FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 AUGUST 2025** _________________________________________________________________________________________________ |**Notes**
**INCOME FROM:**
Donations and legacies
2
Investments
3
**Total Income**
**EXPENDITURE ON:**
Charitable activities
**Total Expenditure**
4
**Net income/(expenditure) before investment (losses)/gains**
**Investment (losses)/gains:**
Unrealised (losses)/gains
7
**NET INCOME FOR THE YEAR**
Funds balance at 1 September
**FUNDS BALANCE AT 31 August**|**Year Ended**
**31 August**
**2025**
**£**
693,884
108,930
802,814
(352,745)
(352,745)
1,155,559
(120,290)
1,035,269
3,221,447
4,256,716|**Year Ended**
**31 August**
**2024**
**£**
177,078
104,820| |---|---|---| |||281,898| |||527,810| |||527,810| |||(245,912)
257,032| |||11,120
3,210,327| |||3,221,447| There were no recognised gains and losses other than those included in the Statement of Financial Activities. The accompanying notes on pages 11 to 13 form part of these financial statements. 8 ## ## |**Notes**
**FIXEDASSETS**
Investments
7
**CURRENTASSETS**
Debtors
8
Cashat bankandinhand
**CREDITORS:Amounts falling due within one year**
9
**NETCURRENTASSETS/(LIABILITIES)**
**TOTALASSETS**
**FUNDS**
Unrestricted funds
10|**2025**
£
£
3,261,099
70,622
924,995
995,617
995,617
4,256,716
4,256,716
4,256,716|**2024**
£
£
3,381,389
18,293
361,983
380,276
(540,218)
(159,942)
3,221,447
3,221,447
3,221,447|**2024**
£
£
3,381,389
18,293
361,983
380,276
(540,218)
(159,942)
3,221,447
3,221,447
3,221,447| |---|---|---|---| ||995,617|380,276
(540,218)|| ||||| ||||3,221,447| ||||3,221,447| ||||3,221,447| **THE FITZWYGRAM FOUNDATION** ## **STATEMENT OF CASH FLOWS** ## **FOR THE YEAR ENDED 31 AUGUST 2025** _________________________________________________________________________________________________ |**Notes**
**Net cash inflow/(outflow) from operating activities**
**A**
**Cash flows from investing activities**
Interest received
Investment income received
Payments to acquire investments
**Change in cash and cash equivalents in the period**
**Cash and cash equivalents at 1 September**
**Cash and cash equivalents at 31 August**
**B**
**NOTES TO THE STATEMENT OF CASH FLOWS**
**A**
**Reconciliation of net income to net cash flow**
**from operating activities**
Net income/(expenditure) before investment gains
Interest and investment income received
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash inflow/(outflow) from operating activities
**B**
**Analysis of cash and cash equivalents**
Cash at bank and in hand|**Year Ended**
**31 August**
**2025**
**£**
454,082
12,329
96,601
-
563,012
361,983
924,995
1,155,559
(108,930)
(52,329)
(540,218)
454,082
924,995
924,995|**Year Ended**
**31 August**
**2024**
**£**
(292,411)
12,481
92,339
(250,000)| |---|---|---| |||(437,591)
799,574| |||361,983| |||(245,912)
(104,820)
22,969
35,352| |||(292,411)| |||361,983| |||361,983| 10 **THE FITZWYGRAM FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2025** _________________________________________________________________________________________________ ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **a) Basis of preparation** The financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity 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(s). ## **b) Going concern** The Trustees consider that there are no material uncertainties which would cast doubt on the Fitzwygram Foundation ’s ability to continue as a going concern. Having reviewed the Fitzwygram Foundation ’s future projected cash flows and the cash and investment balances available to it together with the commitments, the Trustees have a reasonable expectation that the Fitzwygram Foundation has adequate resources to continue its activities for the foreseeable future and consider that there are no material uncertainties over its financial viability. ## **c) Functional currency** The functional currency of the Fitzwygram Foundation is Sterling (£). ## **d) Income** All income is included in the statement of financial activities when the charity is entitled to the income, it is probable that income will be received and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: ## **Donations and legacies** Donations and legacies are recognised when received or when the Fitzwygram Foundation becomes legally entitled to them. Receipts of property, investments or other gifts in kind are included at market value. ## **e) Expenditure** Payments made during the year are mainly payments to Hampton School. ## **f) Investments** Investments are stated at market value less any provision for permanent diminution in value. ## **g) Debtors** The balance represents outstanding gift aid claims and donations receivable. ## **h) Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments. ## **i) Areas of critical judgement and estimation** There are no areas of critical judgement and estimation used in preparing these financial statements. ## **j) Unrestricted Funds** Unrestricted funds, including funds paid to Hampton School, comprise those funds which the Trustees are free to use for the furtherance of the charitable objects. 11 **THE FITZWYGRAM FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2025** _________________________________________________________________________________________________ ## **2. DDONATIONS AND LEGACIES** |**2.**|**DDONATIONS AND LEGACIES**||| |---|---|---|---| |||**Year Ended**|**Year Ended**| |||**31 August**|**31 August**| |||**2025**|**2024**| |||**£**|**£**| ||Donations and legacies|693,884|177,078| |||============|============| |**3.**|**INCOME FROM INVESTMENTS**|**Year Ended**|**Year Ended**| |||**31 August**|**31 August**| |||**2025**|**2024**| |||**£**|**£**| ||Interest received|12,329|12,481| ||Investment income|96,601|92,339| |||------------------------|------------------------| |||108,930|104,820| |||============|============| |**4.**|**EXPENDITURE**|**Year Ended**|**Year Ended**| |||**31 August**|**31 August**| |||**2025**|**2024**| |||**£**|**£**| ||Bank charges|1,906|1,107| ||(Provision released)/provision made for funding to Hampton School|(354,651)|526,703| |||------------------------|------------------------| ||Total cost of charitable activities|(352,745)|527,810| |||------------------------|------------------------| ||**TOTAL EXPENDITURE**|(352,745)|527,810| |||============|============| At 31 August 2024, the Foundation made a funding provision to support Hampton School. During the year, £185,567 was paid to Hampton School and the balance of the provision was released. Audit fees (net of VAT), paid by Hampton School, were £2,850 (2024: £2,775). ## **5. EMPLOYEES** There were no staff employed by the Fitzwygram Foundation (2024: none) ## **6. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES** No remuneration or expenses are paid to Trustees (2024: £nil) Donations received during the year from Trustees totalled £30,294 (2024: £2,754) 12 **THE FITZWYGRAM FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2025** _________________________________________________________________________________________________ |**7.**|**INVESTMENTS**|**2025**|**2024**| |---|---|---|---| |||**£**|**£**| ||Market value at 1 September|3,381,389|2,874,357| ||Additions|-|250,000| ||Unrealised investment (losses)/gains|(120,290)|257,032| |||----------------------|----------------------| ||**Market value at 31 August**|3,261,099|3,381,389| |||===========|===========| ||**Historic cost at 31 August**|3,096,931|3,096,931| |||===========|===========| |**8.**|**DEBTORS**|**2025**|**2024**| |||**£**|**£**| ||Accrued income|70,622|18,293| |||===========|===========| |**9.**|**CREDITORS FALLING DUE WITHIN ONE YEAR**|**2025**|**2024**| |||**£**|**£**| ||Provision for funding to Hampton School|-|540,218| |||----------------------|----------------------| |||-|540,218| |||===========|===========| ## **10. FUNDS** ||**Total Funds**| |---|---| |**Unrestricted**|**£**| |1 September 2023|3,210,327| |Net income|11,120| ||----------------------| |31 August 2024|3,221,447| |Net income|1,035,269| ||---------------------| |31 August 2025|4,256,716| ||==========| ## **11. SOLE MEMBER** The company’s sole member and therefore ultimate controlling party is Hampton School, a company limited by guarantee (No: 06264434) and a charity (No: 1120005) registered in England and Wales. Consolidated accounts can be obtained from Hampton School, Hampton Road, Hampton, Middlesex, TW12 3HD. 13