ChArfty No. 1199922 (Englxnd and Wales)
SKINNERS, EDUCATION FOUNDATION
TRUSTEES. REPORT AND ACCOUNrs
FOR THE YEAR ENDED 30 JUNE 2025

SKtNNERS' EDUCATION FOUNDATION
CONTENTS
Page
Report of the ThL81ees
Independ¢nt auditor's report
Statement of financial activities
Balance sheet
io
Statement of Cash flows
li
Notes to ihe ￿counts
12-19

SKtNNERS' EDUCATION FOUNDATION
REPORT OF TRusfEES
FOR THE YEAR TO 30 JUIYE 2025
llltrThluction
The Trustees present their along with the fuwicial statements of the Charity for the year ￿ded 30 June
2025. The financial statements have been pr¢pared in a¢¢ordan¢e with the accounting policies set out on pages
12 and 13 to th¢ accounts and Comply with the Charity's constitution, the Charities A¢t 2011 amd the s¢cond
edition ofthe Ststement of Recommended Practice applicable to charities preparingtheiT accounts in a¢¢ordance
with the Financial Reporting Standard applicable in the UK and Republic of Irelatxl (FRS 102).
Hiitory
Skinners, Education Foulldation is regtstered as a charitable incorp)rated Org￿nSatIOn undernumber 1199922. It
was established on 2 AugLLSt 2022 by constitution; its inittal funding being a donation from Skinners. Malmesbury
Foundation.
The Foundation rdlects the Skinners. COMI￿ny'S ￿lIanthroP1¢ aims in Education. It 15 s11p￿rting Company
sch¢Jols towards ourstrategi¢ aim of becoming-beaconsof exc¢ll¢nce" in the field ofeducation. Withinour famity,
we believe every skillne￿. 5¢hool should give its sthdents the very best education pssible. equipping th￿ll to be
SU￿¢5SfUl in life. across the farllily we provide that education to students from every ￿kgrouThd. We value the
diversty of provision across our dIffer￿t ￿h(K)Is. Beyond our schools, we also hope to have a stronger px)sitive
impact on the wider edu¢ation lanthape.
Alms *nd obJe¢llves
The objectives of the Charity are to apply income and. if the TDJstees think f¢ the witsi (where p￿tSIble) in or
towards the advanc￿ent of education. in p￿Icular.
The provision of itan& services and facilities at any sclKN)I forniing part ofthe Skintffi. famtly of school5.
The advancem¢nt of education of pupils at schools forniing part of the SkiDners' family of 5choots by any
means as the TnLStKs shall deterniine.
The address of the Charity i8 Skinners, H8iL 8 Dowgate HilL Londofy EC4R2SP.
Con8iltution The Cjwity is a clwitableincorporatedoTganisationre8ulated bythe cO￿$titUtiOndated 2.82022.
MrA Boggis
Mr W Fell
Ms Lucy Lee
Mr C Dearie (from 05.11.25)
Trn8¢¢eJ
Mr H Asltton {ChairnMn)
Mr J Clark
Mr T Haynes
Ms E DaYi¢s (fr(m 21.11.24)
Clerk to the Trost¢eJ
Mr A C P Kennett
Prinelp•l Office
Skinners. HalL 8 Dowgate HilL London EC4R 2SP
Ch*rlty Number
1199922
Org8nisational Jtructure
Day lo day operations are delegated to the Clerk by the Tr￿tee$. The Skinners. Educalion Foundation Board of
Trustees oversees the management of the Charity. It reports to the Court of the Skinners. Company wh￿C
necessary to inforni them of their work.
Pag¢ I

SKINNERS, EDUCATIOF4 FOUNDATION
REPORT OF THE TRusfEES (Continued)
FOR THE YEAR TO 30 JUNE 2025
Recruitment of trustee
Skinner TnLStee memkn are usually approached in the first instance by the Clerk who, with the Chaimia
keeps membership underreview. Final decisions on membership rest with the Board of Truste￿. In the case of
non-skinner, Independent Tntstee4 re¢ruitment conventionally follows a skills analysis to identify key areas
for r¢crnitment.
The induction pr{￿e&S begins with a welcome pack. This includes the Charity's constitution, key strategic
do¢um¢no and other relevant papers such as minutes and accounis. Support and guidance is provided by the
ChairnIa￿ fellow TTWtees and the Charity's Staff.
Key management personDel and r¢mullerxlion
The Trustees Considerthe ClerL Director of Finance. and the Foundations Manager of the Skinners, Company
as ¢omprising the key management Frsonnel of the Charity. in ¢harg¢ of directing and controlling the Charity
and operdting it on a day to day basis. The Trustees give their tim¢ freely and ￿ TnL%tees' remuneration was
paid in th¢ y¢ar. Ettails of Trustees. expense& rfany* are disclosed in note 3.
The Ch4rlty's q￿ratiOnS
During this period of Operatio￿ the Charity is focussing on development and pbilanthTOPy in order lo generate
capitsl and income for the furtherance of its op¢ratiODS. blitial fimding h&$ Come mainly by transfer of assets
from existii)g Skinners, Charities.
Page 2

sIaNNERS' EDUCATION FOUNDATION
REPORT OF THE TRusfEES (Continued)
FOR THE YEAR TO 30 JUI¥E 2025
FIDancial review
The fimds under the Trustees, Control c<Jnsist of:
Undesignated fund4, being the available to the TnJste¢ for the general purp)s¢s of the Charity.
P¢rnianent Endowmem Fund. Funds held for capital purFK)ses in perythity originally donated by
Desmortd Simkin.
Expendable Endownent Fund. With the intention of building up a capital swn to provide a continuing
income for the Charity, the Trustees will place all donations received into this fjJnd except:
where the donor has asked for their donationto be used &s inci)me, in which ¢a8e it Iwill be athl¢d
to the Und¢si￿d fimds
where the donor &sked for their donation to be used &s w)itaL in Ivhich c&5e it will be passed
to the Re5tri¢ted FUt￿- Capital
Restri¢ted Fund- Capital. As explained this fimd hol(Ls donations expr¢ssol a5 being for capital
The Statement of Financial Activities of the Charity can be summorised follows:
2025
2024
DIX￿10￿ neiv￿.
Skinners Charity Foundation
SirAndrew Juthl Fowthtion
Otk¢r donations
JnY¢sLTnent inc(￿e
1,685,178
315,000
201.678
376,362
2.578.218
(705,494)
(2,253)
1,870.471
5.613,702
380,896
5.994.598
(84,090)
(1,132)
5,909.376
GTants and ch8ritsble activities
JttTrtstment managattent costs
in¢oming resouwes 8aitL8 ￿1￿&￿eS
The awity l)as an expendable endowmenL and it is therefore the policy of the TnLStees nottomaintsin significant
reserves on undesign*¢d funds. Free res¢rves at the year end omounted to £8,774.715
tnvutmen¢ poll¢y and perforniaD¢¢
The Charity'5 investment objective is to maximise total return whtle providing in¢ome. Management of the
Chority's main investmentportfolio is held with Cazenove Capital. CCLA and Sardsin & Partners. and propety
unit trusts.
Ri&k mAD•g¢inent
The Charity maintains a ri8k register and reviews risk arnually. This ensures the TnL8tee5 are in the best Position
to identify the major iisks to which the Charity is exposed and establish systems to ensure that these risks are
rev1¢W￿ and minimised as far as FK)ssible.
The principal risks faced by the charity are thai investment returns may not be sufficient to meet its obje¢tiv¢s
and grants may exceed income Teducingthe ex￿ndable endowmentover time. These are mitigated by retaining
expert investment managers and having a diversified portFolio. A head of philanthropy and development h
been ￿pOInted to the siaff to drive the fLmdraising towards an ethos of regular giving.
Page 3

SKINNERS, EDUCATIOIY FOUNDATION
REPORT OF THE TRu￿EEs (ContitLued)
FOR THE YEAR TO 30 JUNE 2025
Fundraising
The Tn￿teeS take their responsibility w)derthe Clwities (l¥otection and Social Investhient) Ad 2016 seriollsly
and have considered the implicaiions on Ih¢ activities of the Charity. The ¢harity is seeking to increase both its
Tegulmr incom¢ and. over the longer tem). the endowmenl, through new fundraising ¢ffotts. This will include
seeking corporate sponsors, such &% law and banks, to fund tangible projects at our schools &% well as
support from individuals and trusts and foundations. The Trusiees are not aware of any complaints made in
respecl of fundraising during the period.
Future plall$
In the year. the Tn￿eS a￿d to fund a proposed budget in Supr￿ of th¢ xtivities of the Skinners Company
Education oifice as their prirn￿ eX￿ndItUTe. This focussed on key areas of work including good gov¢mance,
developing teachers. and s￿pOrting students. This will con1itu￿ inlo the yearfs) ab&￿- and the Trustees hop¢ to
expand tbis further based on su¢¢¢ssful fimdraising efforts.
Publle ben¢fjt
The Tnjstees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to all
gullda￿e published by the Charity commi￿10n.
Tn￿le¢S, responslbilitieb
The Tntstees are resp¢)nsible forprepaTing the T￿￿te¢s. Report and the flnancial ststements in accordance with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepled Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustee5 to prepare f]nan¢ial statements for
¢a¢h financial year which give a true and fair view of the slate of affairs of the charity and of the incoming
res0w￿S and application of resources of the charity forthat period. In pr¢paTing these fmancial statements, the
Tn￿teeS are r¢quired to..
select suitable accounting ￿liCI¢S and then apply them consistellily.
observe the methods and principles in the Charities SORP.
make judgem¢nts and estimates that are rwonable and prudent.
state wheih¢r applicable ac¢ountiDg standards have been followel subject to any matsrial departures
disclosed and explained in the fmallcial ￿ateMents.
prepare the financial statetnents on the going COD¢ern basis unless it is inappropriate to presume that the
charity will continu¢ in b￿sIn￿.
Pa8e 4

SKINNEILS, EDUCATION FOTJfqDATION
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR TO 30 JUNE 2025
The Trust￿ are responsible for keeping proper accounting records that dis¢lose with rea50n&ble ￿CUraCY at
any time the financial position of the charity and enable it to ensure that the fitydncial statements comply with
the Charities Act 2011, the Charity (A¢¢ounts and Reports) Regulations 2008 and the provisions of the trLL8t
deed. They ar¢ also responsible for safeguarding the assets of the chaTity and hence for taking reasonable steps
for the wevention and detection of fra￿1 and other Irregularities.
BAnken ald profes8foll￿ •dvi4ers
Ballkers
Royal Bank of Scotland PLC
62163 Threadneedle Street
London EC2R 8LA
Soli¢itors
tee Bolton Monier-WilligD
l The S8n¢tiiary
London SWIP 3JT
Investment nMnagers
Cazenove Capital
l London Wall Place
London EC2Y SAU
CCLA
85 Queen Street
London EC4V 4ET
SaTasin & Partners
100 Si Paul's Churchyard
London EC4M 8BU
Independent Auditors
Saffery LLP
71 Queen Victoria Street
London EC4V 4BE
Insur*n¢e Brokera
Marsh Brokers Limited
1-5 Perrymount Road
Haywards Heath
Wes¢ S￿SSeX RH16 3SY
Approv￿ by th¢ Trustees on 5 November 2025
and signed on ￿half of the Trust￿$ by
Mr H Ashton
Chair of the TnL8tses
Page 5

SKINNERS, EDUCATION FOUNDATION
INDEPEIYDEI¥T AUDITORS. REPORT TO THE TRUSTEES
FOR THE YEAR TO 30 JUNE 2025
Opinio
W¢ have audited the financial statements of Skitmer5' Edu¢ation Foundation frff the year ended 30 June 2025
which comprise the St&tem¢nt of Financial Activities. the Ba14nc¢ Sh¢et, the C&sh Flow Statement and the notes
to the financial Statemen￿ including significant accounting policies. The financial reporting framework that
has been applied in their prep￿lon is applicabl¢ law and United Kingdom Acwunting Siandards. including
Financial Reporting StaDdard 102. the Financial Reporting Standard applicable in the UK and Republic of
Ireland (Unlted Kingdom Generally Accepted A￿OUntIng Practice}.
In our opinion the finaDciai statements:
give a tru¢ Und fair view of the state of the charity's affairs &8 at 30 June 2025 and of its incoming
resources alld application of r¢sources for ihe period then ended.
hav¢ been properly prepar¢d in accordance with United Kingdon) Gen¢raity Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the ChaTities Act 2011.
Basi8 for opllllon
We cOnd￿ted our audit in accordance with Internation￿ Standards on Auditing (UK) OSAS (UK)) and
appIl￿ble law. Our responsibilities under those standards are fiwther d¢s¢ribed in the Audiior's responsibilities
for the audit of the financial statements section of our report. We are independ¢nt of the charity in &cordance
with the ¢thi￿1 requirements that are relevant to our audit of the fllwicial slat¢m¢nts in the UK including the
FRC'S Eihicai Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit ¢viden¢e we have obtained is sufficient and appropriate to provide a
basis for our opinion.
ConclusioDS rel*tillg lo golng eoneerm
In auditing the financial statements, we have concluded that the trustees. us¢ of the going concern b￿lS of
accounting ID the PTeparation of the financial statements is appropriate.
Based on th¢ work we have perforniel we have not identified ony material unCe￿intleS relating to events or
¢onditioAs thaL individually or ¢oll¢dively. may cast significant doubt on the charity's ability to continue as a
going ¢on¢¢rn for a period of at least twelv¢ months from when the financial s¢atements are authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect io going concern are described iti the
relevant sections of this report.
Other illfonn¥llon
Th¢ trustees areresponsible forthe other inforniation. Tr otherinforniatiim compris¢sthe inforniation included
in ihe llnnu￿ repor4 other than the financial statetnenls and our auditor's report thereon. Our opinion on the
financial statements does not cov¢r the other information and. except to th¢ extent otherwise explicitly statsd in
our r¢port. we do not express any forni of assurance conclusion thereon.
Our respx)nsibility is lo read the other inforniatioD and, in doing so, ¢onsider whether the ijther information is
materially inconsistent with the financial stat¢m¢nts, or our knowledge obtaitied in the course of the audit or
otherwise appears to b¢ materially rnisstated. If w¢ identify such material inconsisien¢ie$ or appar¢nt material
misstaiements, we are required to determine wheth¢r this gives rise to a Materi￿ misstatement in the f]nancial
stslements themselves. If, based on the work we have perfornied, we conclude that there is a material
missts*m¢nt of thi5 other 1nforn1ati￿ we are required to report that facL We have nothing to report in this
rewd.
Page 6

SKINNERS, EDUCATION FOiINDATION
INDEPEI¥DENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR TO 30 JUNE 2025
Matters on Ivhleh we Are requlred to report by uception
We hav¢ nothing to report in re4Rrt of the following maff¢r3 in relation to which the Charitie5 (Accounts and
Reports) Regulations 21)08 require us to report to you if. in our opinion..
the infiyrmation given in the Report of the Trust¢e is inconslstent in any material resp¢ct with the
fmancial statements. or
the charity h&s not kept sufficient accounting records. or
the financial statements are not in agreement with the accounting re¢ord8 and returns. or
we have not r¢ceived all the inforn]ation and explanations we require for our audit.
Responslbllltle8 of trustee
As explained more fidly in the Tn￿tees. Responsibilities Statsment set out i)n page 4. the tr￿tee5 are
responsible for the preparation of the fllwicial statements and for being satisfied that they give a true and fair
view. and for such internal control &$ the tn￿tee$ detemiines is necessary to enable the preparati4)n of financial
statemerts that aTe free fr￿ll material misslatemenL whether due to fraud ￿ error.
In preparin8 the financial 5taiements. the tr￿SteeS are responsible for assessing th¢ ¢harity's ability to conttnue
as agoing disc105in& as applicable, matters related to going concern and usingthe going concern basis
of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic
alternative but to do 50,
Auditors, reJpon8lbilities for the alldlt of Ibe fiD*Rctsl $tsɢmeDts
We have been appointed as auditors under the Charities Act 2011 and reN)rt in ac¢ordance with regulations
made wider that Act.
Our objectives ar¢ to obtain reasonable assurance about whether the financial statetnents &$ a whole ore free
from material misstatemen¢ whether du¢ to fraud or error. and to issue auditors, report that includes our
opinion. Reasonable assurance is a high level of ￿￿rance b￿ is not a guarantee that an audit ci)nducted in
a¢cordance with ISAS (UK) will always detect a Jnaterial misststement when it exists. Misstatements can arise
from fraud or error and are ¢onsid¢red material if. individually or in the awegate. they could reasonably be
expected to infiuence the economic decision8 of users taken on the bASiS of these fmancial statements.
tTregularAties. in¢ludingfrau& are instances ofnonrycompliance with laws And regul&tiotk8. We design procedures
in line with our responsibilities, ouilined abov4 to dete¢¢ material misstatements in resFct of irregularities,
including frnud. The specific pr(Keduras for this engagetnent and the extent to which these are capable of
detecting irregularities. including fraud ar¢ detsiled IKIOW.
Identifying and assessing risks related to irregularities..
We &ssessed the susceptibllity of the charity's financial statements to material misstatem¢nt and how fraud
might occur. including through discu88ions with representatives ofthe truste¢. discu55ions within our audit team
planning meetin& updating ourT¢cord of internal controls and ensurtngthese controls operated as intended. We
evaluated possible incentiv¢s and opportunilies for fraudulent m¥J)ipuiation of the fllw)¢ial stthments. We
identified laws and regulations that are of signifi¢&nce in the context of th¢ charity by dis¢ussions with
represeniatives of the truste¢ and upjating our understanding of the sector in which the charity operates.
Page 7

SKtNNERS' EDUCATION FOUNDATION
INDEPENDENT AiJDITORS' REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2025
Laws aThl regulations of direct si￿LficanCe in the ¢ontext of the clwity in¢lud¢ the Clwities Act 2011. the
Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for
England and Wales.
Audit response to risks identified:
We considered the extent of compliance with th¢s¢ laws and regulatioDs &8 part of our audit procedures on the
related financial ststement Ilen￿ including a review of finanoial statement disclosures. We reviewed the
charity's re¢ords of breaches of laws and regulations, minutes of meetings and Co￿eSpi)nde￿CC with relevant
authorities to identify potential matrrial misstst¢ments arising. We discu&s¢d the charity's policies and
Procedures for ¢ompliance with laws regulatio￿9 with members ofmanagem¢ntr¢sponsible for complian¢¢.
During the planlling meeting with the audit team. the eDgagement partrher drew attention to the key areas which
might involve non-complian¢¢ with laws and regulations or fraud. We enquired of management wkLether they
were aware of Any instances ofnonacomplian¢e with laws and regulations orknowledge of any aduaL suspected
or alleged fraud. We addressed the risk of fraud through management ovettide of controls by testing the
appropriatene&8 of journal entries 8nd identifying any signifi¢ant transactions that were unus￿1 or outside the
nornial course of business. We awssed wh￿her judgetnents made in making accounting estimotes gave rise to
apossible indication ofmanagemeni bias. At th¢ ¢ompletioll stsge of the audit. the engagement parlner's r¢vi¢w
included ensuring that the teatu had apprO￿h¢d their WO￿ with appropriate prof¢ssional scepticism and thus
the capacity to Id￿tify non-compliance with laws and regulations and fraud.
There are iDherent limilations in the audit procedwes described above and the fither removed non-Cl)mpliance
with laws atid regulations is from the events ond transactlons r¢fi¢cted in the financial statsments. the le&8 likely
we would become aware of it. Also. the risk of not detecting a mat¢rial misstatement due to fraud is higher than
the risk of not detecting one resulting from ernir, as fraud may involve deliberats concealment by. for example,
forgery or intentional misrepresentstions. or through col]￿lon.
A further description of ow responsibilities is available on the Fitwicial Rep￿g Council's website at..
www.frc.or uklauditi)rsre5
nsibilitics. This description forn￿ pth of our auditor's report.
U8¢ of our report
Thi5 rekK)rt 1$ made solelyto the ¢harity's t￿￿te¢, as a body, in accordance with Part 4 of the Clwities (A￿ounts
and Rewrts) Regulation5 2008. Our audit work has been undertaken so that we might state to th¢ tr￿st¢¢ those
matters w¢ are required to state to them in an audit(r's report and for no other purpose. To the fijllest extent
pemiitted by law, we do not accept or &ssume responsibaity to anyone other than the chty and the trwte¢ &$
a body, for our audit work, for this reporL or for the opinions we have fornled.
*4 LLP
Saffery LLP
71 Queen Vith)ria Street
London
EC4V 4BE
Dat¢.1( 2okS
Saffery LLP is eligibl¢ to act as an auditor in t¢rnis of sethion 1212 of th¢ Comp8nies AGt 21x16
Page 8

SKtNNERS? EDUCATION FOUNDATION
STATEMENf OF FINANCIAL ACTlVtTIES
FOR THE YEAR ENDED 30 JUNE 2025
Uthresirleted
Fpndj
Eipendable ReBtrlcted fund
EndowineTht
Arnie
PenDaDeDt
Endowment
Total
202S
2024
Income from:
Donations
Inveslments
Bank interest
315,000
288,667
21959
1,836,676
50.180
2.201.856
353,403
21959
5.613,702
380281
615
64,736
Tot*1 Intome
626.626
1,836,676
50.180
64.736
1578218
5.994,598
Eip¢nditur¢ on:
GrarLts and charitable activiti¢5
Investment management costs
655.314
so,Igo
705.494
2,253
707.747
84.090
1.132
85,222
570
570
655,314
1,683
50.180
Realised gains on investments
Unrealised (Ios8esygains on investtnents
66,882
31,769
98,651
(102J74)
662
163,358
Net Ineomel(expendl¢ure)
(28.688)
44.000
1.81A401
79,035
{44,000)
1,866,748
6,073J96
Net movement in funds for the p¢rfiod
15J12
1.816,401
35.035
1,866,748
6,073 J96
Balances brought fotward
293.165
6,958J14
1.949.599
9,201,078
3,127,682
Balaneej ¢arried fornard at 30 Julle 202S
308,477
,774,715
1,984,634
11.067,826
9,201,078
The Statement of Financial Activities contains all 8gin5 and losses durin8 tk year. which all relate to Continuing operations.
Page 9

SKINIYERS, EDUCATION FoufiDATION
BALANCE SHEET
AS AT 30 JUNE 2025
Note8
Fixed a55ets
Investhi¢nts
Expendabl¢ endowment
P¢rnignent endowment
2025
2024
7,832.820
1.783,944
9,616,764
8.231.497
2,039.173
10270,670
Cllrrellt a&gets
Debtors ond pr¢payments
Cash at bank
io
156.732
1.357,793
95.843
551.116
1,514,525
646.959
Current liabilities
Amounts falling due within one
year
li
{63.463)
(31 J73)
Net ellrrenl a&sets
1.451.062
615.586
Creditors due aftff more than one
y¢ar
li
(1,685.178)
Net *syets
12
11.067.826
9201,078
Fund
Expendable endowm¢nt fund
Permanent endowment fund
Unrestricted fund
8.774.715
1,984,634
308.477
6,958.314
1,949,599
293.165
11.067.826
9201,078
Approved by the T￿￿$ on 5 November 2025 and signed on beha]f of thc T￿￿teeS by
Mr H Ashton
Chair the TrLL8tees
Page 10

SKINNERS, EDUCATION FOiINDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
Note
2025
2024
CA8h Ilows from operating a¢tivities
Net cash provided by (used in) operating activities
Cash floivs from illvesting #dlvfitie
Dividends, interest and rents from investrients
Proceeds from the sale of wop¢rty
Purcha%e of Fyopety plant and equipment
Proceeds from sal¢ of investtnents
Purchase of investments
Net c&8h provided by investing adivities
Change in tgsb and cash equiv4bnts in the reportlng period
Cash and &qsh equivalents atihe beginning of the reporting period
Cash and ¢quivalents at the end of the reprtSng perlod
15
(196.909)
7,149,424
353.403
380,281
943,681
293 498
10,000
6 988 5891
6.598
551,110
80fj677
551 116
Pagell

SKINNERS, EDUCATION FOUNDATION
NOTES TO THE FINANCIAL STATEMEIYTS
FOR THE YEAR EI¥DED 30 JUNE 2025
A¢coulltillg polidej
Basis of aCCOUDtiog
The accounts Are prepared under the historical cost ¢onv¢ntAon as modified by the revaluation of
investments (including property held for investment purposes), and in accordance with ihe second
edition of the Statement of Recomm¢nded Practice: Accounting and Reporting by Charities prewing
their accounts in accordance with th¢ Financial Rep)rting Standard applicable in the UK and Republic
of Ireland (FRS 102) published in Ortober 2019 and the Flnancial R¢p)rting Stanilard applicable in the
United Kingdom and Republic of Ireland (FRS 102) and the Chwities Act 2011. Th¢ accrnals basis is
followed throughouL
The a¢coutts (fmanciai statements) have been pr¢pared to give a'true and fair. view and have departed
from the Clwities (A¢¢ounts and Reports) Regulations 2008 only to the extent required to provide a
'true and fair view,. This departure has involved following A¢counting and Reporting by Chariti¢s
preparing their acCo￿lts in a¢CQTdance with the Financial Reporting Standard applicable in the UK and
Republic of Lreland (FRS 102) issued on 16 July 2014 rather than the A¢¢ounting and Reporting by
Charities: Ststem¢nt of Re¢omm¢nded Practice effe￿1ve from l April 2005 which has since been
withdrawn.
The Charity constitutes a public benefit entity &8 defmed by FRS 102.
The fll]an¢iai statements prepar¢d in sterlin& which is the fim¢tion81 curren¢y of the Charity.
Monetary amounts in these fmancial statements a￿ rounded to the nearest £.
Going eollcern
Investment markets are enduring a period of u￿ertaInty and instability. However, investments held
for the long temi valuations are ¢wct¢d to recover over the long terni. After reviewing the
Charity's forecasrs and projections, the Tn￿te¢S hav¢ a reasonable expectation that the Charlty h&s
adequate resources lo continue in operational existence for the foreseeable fulure. The Charity th¢refore
contlhues to adopt the going concern b&sis in preparing its accounts.
1.3.1 Investments
Inv¢sttnetits are stated at M￿et valu¢. Surpluses (r deficits on revaluation are taken to restricted or
endowment fillmts &% appropri￿e. Inv¢stment income arising on restrided investtllents is credited to the
rffsp)nding restricted fi￿d. Investtn¢nt inc4)me arising on endowment inv¢stm¢nts is credited to
unrestricted fjjnds or aTestri¢ted fund dyndent on the ternts ofthe endowment.
Profit and loss on dispos81s is ￿lCUlated as the difference betw¢¢n the sales proceeds and the m8rk¢t
value atthe beginning of th¢ year (purchase d￿e if latrr).
Ineome
Donations And legacies are accounted for as and when entitlement arises, the amount can be reliably
qu￿tified and the economic benefit to tbe charity is consider¢d probable.
Propetty rentals and interest on short terni deposits are recognised when they orise. Dividends attd
interest on investments ar¢ r¢cognised when they become due and payable.
Pa8e l2

SKINNERS, EDUCATION FOtJNDATIOI¥4
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR Ef¥DED 30 JUNE 2025
Expenditure
Expenditure is ￿lUed as soon as a liability is considered probable.
Grants
Gr8nt expenditure ts recorded once the Ch8rity h&s made unconditional commitin¢nt to pay the grant
and this is cunmunicated to the recipient or the grant h&% been paid, ￿thiCheVer is earlier.
Chsrltable aetivides
Costs of charitable activities comprises dire¢t Costs attributable to activity which include grants
made lo third parties directly attributable overhead and supwrt costs, including governance costs.
&5 shown in Note 3.
Cash #nd ¢￿h equivalents
Cash and cash equivalents include cash in hand, deposits at call wlth banks aTrJ bat& overdrafts.
Fln8neial illstrum¢llts
The Charitable Fund only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic fuwicial instnllnents are initially recognised at tratLsaction value and
subsequently measured at their settlement value with the exception of bank loans which ar¢
subsequently measured at amortised c05t using the effective interest method. The Charity has selected
to apply the provisions of Section I I 'Basic Financial InstNments' and Section 12 '0ther FinaDcial
Instruments Issues, of Flis 102 to all of its finoncial ]￿t￿Mien￿.
1.10 UDde8lgnated are the finds available to the Tn￿eeS for the general putpose5 of the Charity.
Expendable Endovrnient Fund. Donations art added to thxs fund if expressly requested by the Donor
or if the Trustees d￿lde the intention of the Donor was to add to this fund.
1.12 Permanent Endovrni¢nt Fund. Donations from the Desmond Simkin Fund of the fonner Skinners.
Malmesbury Foundation is pem]anent ¢ndowmeTht. In May 2024 the TTUStees passed a resolution under
s104(B) of the Charities Act 2011 and resolved to adopt a total r¢turn policy for the pernianent
endoivmentmanaged portfolio. having calculated the unapplied total return on that portfolio at that date
of £ntl. All retums (both capital and income) on these inveslments subsequent to the resolution are
credited to the P¢mwient Endowment Fund. The Trusfre4 in consultstion with the Investment
Comtnittee. has de¢id¢d to tromfer 2.75Yo of the &sset value (as at March each year prior to th¢ budget
s¢tting) to unrestricted fynds for applicatio￿ and this will k reviewed annually.
Ineome
U•r*tridtd
E￿¢￿dAble
R¢¥¢rktcd
Fuwl
Perm*Dut
Endowm¢D¢
Tot
2•25
28&667
22,959
64.736
353,403
22,959
Bank inter¢s1
Skinners Charity Found4thtt
SIT Andrew Judd Foundation
ILB.H. Arm¢s
IDcIu5ive kngetherdon*iotLS
1.685,178
1,685.178
315.(KJO
50.180
18.000
133.498
2 578,218
31J.iXIO
JO,180
18.0(M)
133.498
1836.676
62
626
50,180
64.738
The Armes donation was restricted to the Skinners. School Foundationand was fully spentin theyear.
Page 13

SKINI¥ERS' EDUCATION FOUIYDATION
NOTES TO THE FINANCIAL ￿ATEmEN[S (Continued)
FOR THE YEAR EM)ED 30 JUNE 2025
Comparative figures for iti¢ome for year ended 30 June 2024
Expend*blt
EAdowwellt
21)24
376.640
615
3,641,402
3.641
380.281
615
5.613.702
1,9713(M)
4.01&657
1.9713(rf)
3 Cbarlt•bl¢ gctsvities
2025
2024
GroJ)ts- Simktn
Grant to Skinners Sthool Foundation
General grants
Professional development
Recruilm¢th and retention
Professional membership
School improvement projects
TGA support
Govemor training
Desiinations
Leaving exhibitions
Stsff costs
Office a¢¢ommodation
Meeting Costs 8nd travel
1Th8ufdnce
offi￿ ¢osts incl. bank charges
Other professional fees
Audit
106,000
50,180
31.645
86,318
50.313
9.268
4,200
59,663
16,952
660
160
239,156
17.280
8.910
2,285
1.877
2,531
18.096
705,494
27.784
31,994
3,719
2,154
7.081
11,358
84.090
The Charity bore a proportion of the overall costs of employment of Skinners. Company employees under
paymaster arrangement. These costs appear in note 3 under salari&s and national insurance. The shar¢ of
salary costs recharged ex¢eeds £￿,000 in re￿ct of one individual which fal]s into the range £90,(100 -
£IOO,(M)O. The average head¢ounl of people employed by the Skinners, Company and partially re¢har8¢d to
this charity underthe paymaster arrangement w&$ 10 (2024.. 9).
The key Mal￿gement personnel of the Chkrtty are the Clerk to the Tn￿e¢S and the Director of Finance of
The Skinners, Company. The total ¢ost of key management personnel. &8 recharged by The Skinners,
Company is £27,537.
4 Tr￿SIerS betiY¢eD fun
To the extent that undesi8nated income is not sufficient to cover expenditure of UDdesignated funds. a
transfer is made from expendable endowment.
Page 14

SKINN￿, EDUCATION FOUNDATIO1¥4
NOTES TO THE FII¥AI¥CIAL STATEMEI¥TS (Continued)
FOR THE YEAR ENDED 30 JiJNE 2025
5 Compar4tlve fwes for statement of fillaD¢ial activities for year eDdtd 30 June 2024
Vnrestrleted
Fun
Expendable
Endowment
PEfmaD¢llt
Endowthent
Tot•1
21124
Ineom• from:
3,641,402
1,972.300
3.641
5,613.702
380281
615
Ittvesttn￿ts
376.640
615
Total Infome
377,255
3,641,402
1,975,941
5,gMJ98
Exp¢nditure on:
Grants and ¢harit8ble activities
Jnve5¢ment rnana8ement costs
84.090
84.090
1.132
995
137
Reali5ed gains on investmct
UnTealis¢d 8air]sl{losse5) on investhients
662
6,867
662
163J58
190
25
Net (expettdltureyineome
Trallsfers between funds
293,165
3.830.632
1949,599
6.073J96
Ne¢ movejnent funds for tht ptriod
293,165
3.830.632
1.949,599
6,073J96
Balan¢¢s btought forward
3.127.682
3,127.682
B*l*nees e•rTled forwArd #t 30 Jwit
2024
293,165
6,958.314
1,949.599
9201,078
The stat¢ment of Financial Activities contains all gains and losse5 during the year. which all relate to
continuing operations.
Page 15

SKINNERS, EDUCATION FOUNDATION
NOTES TO THE FINAIYCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 JUNE 2023
6 Realised gaills OA inv¢8tmeDts
2025
2024
Exp¢lld•bl¢ endowmtnt funds
Historica] cost gains realised in year
Loss recognised in prior years
67.282
400
699
37
reeogn14ed Ill ye
66,882
662
Penllanent endoJThent funds
Historical cost gaitl realised in year
Loss recognised in prior years
C*lMI(los8) recogDised ltt year
31.959
190
31.769
Unrealiied gAin8 on Inve8¢meDts
2025
2024
Expelldable end0v￿lellt fund IDV¢Stments
Market value brought forward
Additions and realised gain
Disposals
U￿re￿iSed (lossygain
Markel value carried forwdrd
8,231,497
319.384
{632,588)
3.128,061
4.913248
190,188
7,832,820
,231,497
Pem4Dent eDdoivmen¢ i#vestmeDts
Market value brought forward
Additions and realised gain
Disposals
UDrealised loss
2.039.173
54,836
(293.165)
1066.040
Mark¢t value carried forwant
2 039 173
Page 16

SKINNERS, EDUCATION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 JUNE 2025
8 Expelldxble endojrnent fvnd Invejtments
2025
14Tarket
Value
2025
Cost
21J24
Market
Value
2024
Cost
Cazenove Portfolio
Property Unit Trusts
CCLA
Sartsin
3.156.756
1227241
1.737.067
1.711.756
3248,739
1,249,404
1,739,762
1,506,625
2,970,578
1.757,967
1,807.519
1,695,433
3,022,207
1.793,604
1.739,762
1.502,160
7,832,820
7,744,530
8.231,497
8.057,733
Perm*tttnt eDdoYrnJent futtd Investments
2025
2025
Cost
2024
Market
Value
2024
Cost
Market
Value
Cazenove Portfolio
ProFerty Unit Trusts
1,607.944
176.000
1.655,132
172.578
1,608,715
430.458
1.634,967
431,073
1,783,944
1.827,710
2.039,173
2.066.040
9 Totsl return for yeAr ¢nded 30 June 2025
ndolvment
Unapplled
Total
Retsrll
Total
At Start of reporting period 30 JUD¢ 2024
Movements itt Ib¢ reporting period
Add.. Investsnent retums dividends and interest
Investhjent rett￿￿ gains
Investment unrealised gainsl(losw)
Investsnent management cost
Total
Less.. Unapplied totsl return applied
Net movement in reporting period
At end of reportiD8 perlod 30 June 2025
1.949,599
1.949.599
64,736
31.769
(16,900)
570
79,035
64.736
31.769
(16.900)
570
79,035
1949 599
1949 599
1984 634
1984 634
Page 17

SKtNNERS' EDUCATION FOUNDATIOIY
NOTES TO THE FINANCIAL STATEMENfs (Continued)
FOR THE YEAR ENDED 30 JUNE 2025
10 Debtors
2025
2024
Sundry Debtors
Accrued income
68,636
13.714
74,382
156.732
80,499
15.344
C&sh in transit
95,843
I I Cllrrellt li8bilities
Amounts falling due within one year
2025
2024
Audit fee
8.400
22.973
Other crediloTS
63,463
31,373
Creditors due after MO￿ than one year
1.685.178
Creditors due after more than one year in 2024 represents an interest fre¢ loan from ski[￿er5 Charity
Foundation. It W&S given as a donatiim to SkiDners Education Foundation during year ending Julle 2025.
12 Anmtysis of n¢t amets behween fvllds
Investm¢nts
Other
ssets and
Jiabilities
2025
Tot*1
Ex￿ndAble eThlowment fimd
Penttanent endowment fund
7,832.820
941,895
200,690
.774.715
1.984.634
1.783,944
308,477
308.477
UnrestrActrd
TotAI 2025
9.616,764
1,451,062
11.067.826
2024
EXt￿ndable endown¢nt Futkd
Pernianent endowment fund
8,231,497
2,039.173
(1.273,183)
(89,574)
293.165
6,958,314
1.949,599
293,165
9201,078
Unrestricted Funds
Totil 2024
10,270.670
(1,069,592)
Page 18

SKINNERS, EDUCATION FOUNDATION
NOTES TO THE FINANCIAL STATEMEiwfs (Contlnued)
FOR THE YEAR ENDED 30 JUNE 21)25
Rev¥luatioD reserYe8
2025
2024
P¢rnMient endowment- Quoted s¢curities
Expendabl¢ ¢ndowment- Quoted securities
(43,767)
494.213
173,764
13 Ta￿tIOn
Skinners, Education FouThlation is a r¢gi5tered clwity. Its inrA)me is n(rt liable lo dirert t￿tIOn as it is
applied to wholty ¢haritable PUTPLW.
14 RdAted pthy trAll8a¢dons
Transactions in respect of staff o)sts rec1w￿j by a cixnpany wholly owi¢d by the ThLStee are detailal
in note 3.
15 R¢¢oD¢ili*tion of net movemenl Ill tsDds to Det eash flow from operatlllg a¢tivities
2025
2024
Net income for the reporting period (as per SOFA)
Adjustm¢nts for:
Non-cash donatio
Gatnd(losses) on investments
Dividends, interest and rents from invmerts
Increase in deirtot
tncrease in credito
Net c&sh (used in) operating activities
1.866,748
6,073,396
(1.685.178)
3.723
(353.403)
(60.889)
32.090
196,909
(164.020)
(380.281)
(94.380)
1,714,709
7,149,424
Page 19