REGISTERED CHARITY NUMBER: 201486
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
SIR THOMAS WHITE'S NORTHAMPTON CHARITY
SIR THOMAS WHITE'S NORTHAMPTON CHARITY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Report of the Independent Auditors statement of Financial Activities Balance Sheet Notes lo the Financial Statements Detailed Statement of Financial Activities 19 10 20
SIR THOMAS WHITE'S NORTHAMPTON CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
In making educational Grants to young men and women over the age of 16 and under the age of 25 years residing in Northampton.
Income: £350,000 to £400,000 (excluding loan repayments)
Public benefit
The Trustees have had regard to the Charity Commission guidance on public benefit. As per the charities activities above, the Trustees believe the public benefit in the charity's activities is clear.
Grantmaking policy
Subject to the constraints of the Scheme, the Trustees make grants to assist the education of young men and women in need of financial assistance.
In 2011 the Trustees agreed to make a grant to University of Northampton (UofN) of £100,000, which the University match-funded with £50,000. This has meant that each year a new scholar is nominated and receives £1,500 per year for a three year course. The first student was nominated in 2013, and further students have been nominated in subsequent years. In 2024, the Trustees interviewed 6 students to be considered for the UofN scholarship. In addition to the nominated UofN STW Scholar, the other 5 attendees were awarded grants of £750 funded by the Trustees - all the above were subject to the UofN confirming the students had commenced their courses.
During 2024 the trustees made grants totalling £30,000 to Moulton College and a grant of £15,000 to University of Northampton. During the year, the Trustees agreed that the scheme with UofN for them to make grants to students aged 24 to 34 was not working, and requested the balance of unspent funds be returned - £12,755. This sum remains due to the Trustees at 31 December 2024.
During the course of 2024, the Trustees made grants totalling £332,495.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Trustees remain committed to making grants to individuals and organisations where their funds will make a difference, and are pleased to have made grants totalling £332,495 throughout the year.
Loan Debtors
As at 31st December 2024, the balance of the sum due from borrowers paying their loans by way of instalments was £18,810.
FINANCIAL REVIEW
Financial position
The Distribution Meeting was held in 2024 at Coombe Abbey, and a cheque for £318,271 (an increase of 6% from 2023) was received from the main Coventry Charity.
At the year end unrestricted reserves totalled £3,004,394 (2023: £3,008,735).
Loans given in 2024
There were no new loans made in 2024. The trustees are considering removing loans from their objectives and activities.
Page 1
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Investment policy and objectives The Trustees rely on their financial consultants for advice in relation to the selection ol Investments MHA Caves Wealth conliTrued lo be the Truslee5' financial advis¢rs and produced quarteily slalemenls ol Income and valuations which were circulated lo the Trustees and discusséd al their meetings. The Investment policy was reviewed In 2019. It was aged that the Trustees would seek to achieve capital and Income growth with an emphasis on an overall rale ol relLJrn. This was achieved by a quarterly review of the portfolio by the financial advisers and the adoption ol a low lo medium iisk investment policy The financial advisors also attend one meeting a year lo review the annual projiéss of the Charity's Investments. Al the meeting of the Trustees held or) 16th June 2008 11 was agieed that MHA Caves Wealth should be given discrelion lo manage the Trustees. portfolio. Reserves policy Reserves are Invested through the charity's Financial Consullanls The Trustees aim to maintain these reseNes in re21 terms In order to generate Income to make giants to beneliciaries Loans repaid during the yèar will be invested in order to increase lulure Income Resewes may be drawn down on to make new loans which are not able lo be mel from current cash balances This policy will be reviewed annLJally by the Finance Sub-committeè STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The charrty Is controlled by 115 governing document, a deed of trust and con51ilules an unincoiporated charity. The Tiuslees with the consellt ol the Charity Comtnission. agreed lo change the name ol the chaiity to 'Sir Thomas While's Northampton Charity" and the Scheme 0117 May 2010 relefs Governing Instrument Main Scheme (Jated 30 July 1915 Indenture dated 26 July, 1552 and schemes of the Commissioners dated 21 May 1901, 30 July 1915, 20 July 1972, 16July 2002, 17 May 2010and 4 May2016 Beneficial Area Northampton The Trustees with the consent ol the Charity Commission, agreed lo amend the Scheme to refer lo 'Northampton rather than the Borough ol North3mpton" lo widen the area of benefit. Special Resolution dated 20th July 2020. Page 2
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointmènt of new trustees Al the meeting ol the Trustee5 held on 20th March 2024 Mr T J Hadland was appointed Chairman and Mr U Gravesande was appointed Deputy Chairman lor the ensuing year This was in accordance with the 1915 Scheme ol the Northampton Municipal Ger)eial Charities which had stated that the appointment of the Chaimian and Deputy should lake place at the first meeting ol the year. The following changes in trustees occurred during the yeai". Phil Ager's death was noted al the meeting of 9th October 2024. Jean Bulteel resigned as trustee al the meeting on 9th Oecember 2024 dLie to hei relocating. Danielle Stone resigned as tiustee al the meeting on 9th December 2024 due lo wort( comrMItMenls Susan James attended the meeting on 13th November 2024 and was appointed as Iiuslee to take effect 9th December 2024. taking on the commrtments that were pieviously undertaken by Jean Bulteel. Following Completion of the Special Resolution dated 20th July 2020 the Trustees agreed that they would appoint Trustees themselves so that Trustee5 Wlth the skills needed by the Charily can be appointed by them rather than Northampton Borough Council. Pr10r lo their first meeting, Trustees are sent papers which include a history of the charity. copy Gharily Scheme, accounls and vaiious notes and copy forms that ale used by the clerks. No fomal training Is given. Administration of the Charity The day lo day adminislolion of the charity has been delegated to HCR Hewitsons. All financial decisions are agreed by the Tmstees al Iheii meetings, and all cheques are signed by two Trustees The chanty slso makes payments by BACS tiansfei which are overseen by one trustee al HCR Hewitsons premises Risk management The trustees have a duty lo identify and review the risks lo which the charity is exposed and lo ensure appropriate controls arè in place to provide reasonable assurance against fraud and error As the Charity is a loan making body, the Trustees consider the main arèa of risk relates lo the repayment ol the loans. Accordingly, the Trustees. In addition lo requiring three 5urelies to guarantee the loan also require th81 ea¢h boirower take out a life endowment policy and assign this to the Trustees as additional security for the repayment ol the loan The Trustees also identified that the lack of nolilicalion ol the change ol address by the borrowers ol himself and his suielie5 as an additional risk To lessen the risk they have de¢ided to send out mail shots periodically requinng the confirmation of addresses of 311 parties by the boriowers. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 201486 Principal address alo Mrs Angela Moon, HCR Hewitsons Lancaster House Nunn Mills Road Northampton Northamptonshire NN15GE Page 3
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustèès T J Hadland U Giavesande FHWire W A Howes J Nightingal P L Agcr Idcceased 27191241 J K M Bulleel Iresigned 91121241 T Vthenham M Wilkinson Cllr S Beardsworth Cllr D Stone Iiesigned 91121241 A Perry S James (appointed 91121241 Auditors Shaw Gibbs (Audill Limited. Slalulory Auditor Eagle HoLJse 28 Billing Road Northampton Northamplonshire NN1 5AJ Financial Consultants: MHA Caves Vlealth Lockgales House Rushmills Bedford Road Northampton NN4 7Y8 Clerks to the Trustees.. HCR Hewilsons Solicitors Lancaster House. Nunn Mi115 Road, Northampton NN1 5GE Bankers.. CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ National Westminster Bank Pl¢ 41 The Drapery Northamplon HM Revenue & Customs Number X8076 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iiuslees ale responsible for prepdring the Report of the Trustees and the financial slatemenls in accordance with appli¢able law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pr8cti¢el Page 4
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued The law applicable lo charities In England and Wales. the Charities Act 2011, Charity (Accounts and Reportsl Regulations 2008 and the piovisions of the trust deed requires the trustees to prepare financial statements for each financial year which give 3 tiue and lair view of thè state ol affairs of the chaiily and of the incoming resources and application ol resources. including the Income and expenditure, ol the charity for that period. In piepaiing those financial stalemenls, the trustees are required to select suitable accounting policies and then apply Ihetn consistently., observe the methods and principles In the Charity SORP, make judgèments and estimates Ih3t are reasonable and prudent. prepare Ihe financial statements on the going concerr) basis unless It 15 inappropriate to presurne that the charity will continue In business. The trustees are responsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time the financial position ol the charity and to enable theni to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts ar)d Reports) Regulations 2008 and the provisions of the twsl deed. They ale also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities d by order of the board ol trustees on z? ILol£tyL) and signèd on iLS behalf by.. T J Hadland - Trustee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARITY OplnSon We have audited the financial slalemenls ol Sir Thomas While's Northampton Chaiity Ithe 'chaiity'l for the year ended 31 December 2024 which compiise the Slalern&nt of Financial Activities, the B31ance Sheet and notes to the financial slalemenls, Including 3 summary ol significant accounting policies The financial reporting framework that has been applied In their preparation Is applicable law and Uniled Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial 51alement5- give a true and lair view ol the slate ol the charity's affairs as at 31 December 2024 and of Its Inmming resources and application of resources. for the year then ended, have been properly prepared In accDrdance with United Kingdom Generally Accepted Accounling Practice. and have been prepared in accoidance with the requirements ol the Chanlies Act 2011 Basis for opinion We cor)ducted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described In the Audrtors, responsibilities for the audit of the financial statemen15 section ol our report We are independenl ol the charity In accordance with the ethical rÈquiiemenls that are relevant to our audit of the financial slal&rnents in the UK. Including the FRC'S Ethical Slandard. and wè have fulfilled our other ethical responsibilities in accorcjance ivrth these requirements. We believè th2t the audit evidence we have obtained Is sufficient and appropriate lo provide a basis lor our opinion. Conclusions relating to going concern In aLJdiling the financial statements. we have concluded that the trustees, use ol the going concern basis ol accounting In the preparation ol the financial statements Is appropnate Based on Ihe work we have performed, we have not identified any material uncertainties relating lo events 01 condilsons that, individually or collectively may cast significant doubt on the charity's ability lo continue as a going Cornrn for a period ol at Seasl twelve months from when the financial statements are authoiised lor Issue Our responsibilities and the ie5ponsibililies ol the Iru5tees with respect to going concern are described In the relevant sections ol this rèport Other information The Iruslees are responsible lor the other information. The other Information comprises the information inclLJded in the Annual Report. other than the financial statements and our Report ol the Independent Auditors Ihereon Our opinion on the financial statements does not cover the other information and. except to the extent olherrfrfisc ¢xpli¢itly staled In our report, wc do not ¢xprc$3 any form of $33uranc¢ con¢lJ3ion thtreon. In conne¢lic)n with our audit ol the financial stalemenls, our responsibility is to read the other Information and, in doing so. consider whether the other inlorrnalion is materially Inconsistent with the financial statements or our knowledge obtained In Ihe audit or otherwise appeals to be rmalerially misslaled. If we Identify such malenal Inconsistencies or appaienl material misstatements, we are required to delemiine whether this gives rise lo a malerial misslatemenl in the financial slalemenls themselves 11, based on the work we have performed, we conclude that there is a material misslalemenl tsf this other inltsfmalion. we are reqLJired to report that lacl We have nothing to report in this regard Mattèrs on which we arè rèquired to rèport by excèption VJe have nothing lo report in respect ol the following mattels where the Charities (Accounts and Reports) Regulations 2008 requires us lo report lo you Il In our opinion the Infoimalion giv&n In the Report ol the Trustees 15 Incons15tenl in any material respect with the financial slalemenls", or sufficient accounting records have not been kept., or the financial statemer)Is are not In agreement with the accounting records and relurns. or we have not received all the Information and explanations we require lor our audit. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARITY Responsibilities of trustees As explained more fully In the Slatement ol Trustees, Responsibilities, the Iruslees are spOnsIble lor the preparation of the financial statements which give a true and lair view and for such Internal control as the Iruslees determine is necessary lo enable the preparation ol financial statements that are Iiee from material misstatement, whèther due lo fraud or error. In preparing thè financial slalements, the Iruslees are iesponsible lor assessing the charity's ability to continue as a going concern, disclosing, as appli¢able, matters related lo going concern and using the going concern basis of accounting unless the trustees erther Intend lo Iiquidale the charity or lo cease operations, or have no realistic alternative but lo do so Our responsibilities for the audit of the financial staternents Vle have been appointed as audrtois under Section 144 of the Charities Act 2011 and Teport in accordance with the Act and ielevanl regulations made or having effect thereLJnder. Our objectives are to obtain reasonable assurancè about whether the financial slalements as a whole ale free from material misslalement, whether due to fraud or error, and lo issue a Report of the Independent Auditors that Includes our opinion. Reasonable assuran¢e is a high level of assurance. bul Is not a guaranlee that an aLJdit conducted In accordance with ISAS IUKI will alw8ys detect a material mis51alemenl when it exists. Misstatements can arise from fraud or erior and ale considered material il, individually or in the aggregate, they could Feasonably be expected to Influence the economic decisions of users taken on the basis ol these financial slalèments. The extent lo which our procedures are capable of detecting irregLJlarities. inclLJding fraud is detailed below. Because of the inherent limitations ol an audit, there is a risk that we will not detect all irregularities. Including those leading to a materi21 misslatemenl in the financial statements or noTr-compliance with regulation. This risk Increases the more that compliance with a law or regulation is removèd from the events and transactions reflected in the financial statements. as we will be less likely to become 3ware ol instances of non-compliance The iisk Is also greatèr regarding irgLIlarI1ieS occurring due to fraud ralher than error. as fraud Involves Intentional concealment, forgery. collusion, omiSsn or misrepresentation. We eonsidered the opportunities and incentives that may exist within the organis3lion for fraud and Identrfied the greatest potential lor fraud In Ihe following areas timing and recognition of Investment Income. posting of any unusual journals along with complex transactions and manipLJlating the Gharilies, key performance indicators such as grants paid. lo meet targets. We discussed these risks with the finance management and de51gnéd audit procedurès to test the timing ol Investment revenue & tested a sample ol grants paid out lo confirm they weie appropriate and reviewed areas ol judgemént for Indicalois Of management bias Ic> address these risks A further description ol our responsibilities for the audil of the financial statements is located on the Financial Reporting Council's website al www.fic.org uklaudiloisrèsponsibilities. This description forms part of our Report ol the Independent Audilors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARITY Use of our report This report is made solely lo the charily's Iruslees. as a body. in accordance Wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the Charity's IrLJSlees those mallers we ale required to slate lo them an auditors, report and lor no other purpose To the fullest &xtenl permitted by law we do not accept or assume respon5ibilily lo anyone other than the charity and the charity's Iruslees as a body, loi our audit work. lor this report. 01 for the opinions we have formèd Shaw Gibbs (Audill Limrted. Slalultsry Auditor Eaglè House 28 Billing Road Northatllplon North3mplonshire NN1 SAJ Dale. 28 October 2025 Page 8
SIR THOMAS WHITE'S NORTHAMPTON CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unreslricled fLJnd 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Charitable activities Loans and grants lo individuals and 318,271 299.408 Investment income 139,531 124.697 Total 457,802 424.105 EXPENDITURE ON Raising funds 9,522 9,573 Charitable activities Loans and giants lo Individua15 and inslilulions 419,473 410,596 Total 428,995 420, 169 Nel gainslllossesl on investments 133,1481 111,2951 NET INCOMEIIEXPENDITUREI 14.3411 17,3591 RECONCILIATION OF FUNDS Total funds brought fopNard 3,008,735 3,016.094 TOTAL FUNDS CARRIED FORWARD 3,004 394 3,008.735 The notes form part of these f1nancial statements Page 9
SIR THOMAS WHITE'S NORTHAMPTON CHARITY BALANCE SHEET 31 OECEMBER 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Investments 12 2.742,135 2,705,457 CURRENT ASSETS Debtors Cash al bank 31 565 237 384 44 048 280 920 268 949 324 968 CREDITORS Amounts falling dLJe within one year 14 16.6901 121.6901 NET CURRENT ASSETS 262,259 303 278 TOTAL ASSETS LESS CURRENT LIABILITIES 3.004,394 3,008.735 NET ASSETS 3,Q04,394 3,008.735 FUNDS Unr&stricled funds 3.004 394 3,008,735 TOTAL FUNDS 3,004 394 3.008.735 The financial slal&men15 were approved by the Board of Tiuslees and aulhorised for Issue on and weie signed on ils beh211 by.. dland- Trustee nrlg. - rustee The notes form part ol these financi21 statements Page10
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefil entity under FRS 102, have been prepared In accordance with the Charrties SORP IFRS 1021 'Accounting and Reporting by Charities Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standaid applicable in the UK and Republic of Ireland, and the Chanlies Act 2011. The financial statements have been preparèd under the historical cost convention with the exception ol investr¥)ents which are included al market value, as modified by the revaluation of certain assets. The present8lion currency loi the financial stal&ments is Pound Sterling (£1. Going Concern The financial slalemenls have been prepared as a going concern The Trustees have taken into account a period of 12 months post the approval of the financia1 statements date and confirmed their assessment that the charity Is a going concern. Significant Judgements & Estimates Thè PparatIOn ol financial slalements requires the use of certain critical accounting estimates 11 also requires management to exercise ils judgement in the process ol applying the company accounting policies The areas involving a higher degree ol judgement or complexity. or areas where agsumplions and estimates are significant lo the financial statements are disclosed within the individual accounting policies below Income All income is recognised In the Statement of Financial Activitiès once the charity has enlitlemenl lo the funds, it is probable that the income will be réceived and the amount can be measLJred reliably. Expenditure Liabilities are recognised as expenditure as soon as there Is a legal or consliuclive obligation mmitting the charity lo that expenditure It is probable that a transfer of economi¢ benefits will be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is accounted for on an a¢crLia1s basis and has been classified undei headings that aggregate all cost ielaled lo the category Where c0515 cannot be directly altribuled lo particular headings they have been allocated to aclivilie5 on 2 basis consislenl with the use ol resources. Grants offered subject to conditions which have not been mel al the year end date are noted as a commitment but not accrued as expenditure Taxalion The charity is exempl from lax on 115 charitable aclivilies. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discrètion of the trustees Restricted funds can only be used for particular restricted purposes within the objects of the charity Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes Financial instruments Cash and cash equivalents in the balance sheet Comprise cash al banks and in hand and short term dep051ts with an original malurrty dale of three months or less. Page11 continued.
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- continLFed Financial instruments Debtors and creditors with no slated Interest rale and re1vable or payable within one year are iecorded al transaction price Any 1085es arising from impairment are recognised In the slatemer)l ol financial activities. Financial Iiabililses and equity Instruments are classified according lo the substance of the conlraclual arrangements entered Into An equity Instrument Is any contract that eviolence5 a residLJal Interest In the assets ol the entity after deducting all ol its financial liabilities VJhere the contractu21 obligations of financial instruments are equivalent to a similar debt Inslrumenl, those financial inslruments are classed as financial Iiabililies Financial liabilities are presented as such in the balance sheet Finan¢e costs and gains or losses ielaling lo IIDancial liabilities are included in the statement of financial activities Finance costs are calculated so as lo Produ a constant rate ol relurn on Ihe OLJtslanding liability Loans The loans are held 21 present value and are receivable as they fall due lor repayment A provision is made annually lor all loans that are due for repayment prior to thè current year as well as 1°/0 ol all outstanding CLJrient loans. The provision Is recognised In the Statement of Financial Aclivilies. INVESTMENT INCOME 2024 2023 Dividends & Interest received Deposit account Interest 131.588 7.943 122,761 1.936 139.531 124.697 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Loans and grants lo IndividuaSs and Funds received from Coventry 318,271 299,408 Page 12 continued
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 R41SING FUNDS Investment management costs 2024 2023 Portfolio management 9.522 9,573 CHARITABLE ACTIVITIES COSTS Grant funding ol Diiecl Cosls15ee note 61 Support osls Isee note 81 (see note 71 Totals Loans and grants lo individuals and 59.414 332,495 27,564 419,473 DIRECT COSTS OF CHARITA8LE ACTIVITIES 2024 2023 Clerks charges FCA charge Travel Data protection Nel change in provision for loans unlikely to be repaid 57,793 1,351 130 40 100 49 800 1087 140 40 1.686 59.414 52.753 GRANTS PA YABLE 2024 2023 Loans and granls to Individuals and inslilulions 332,495 340.300 The lolal grants paid lo inslilulions during the year was as follows.. 2024 2023 MoultDn College ABF Soldiers Charity Northamplon Academy Grant University ol Northampton University of Northampton Scholarship 30,000 800 15,000 1,200 10000 15,000 2.245 3.000 36.045 45,700 The lolal grants paid lo individuals during the year was as follows". 2024 2023 Granls lo individuals 296,450 294.600 Page 13 continued...
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS Governance costs ManagemÈnl Finance Totals Loans and grants to individuals and 8.510 514 18,540 27.564 Support costs, Included In the above are as follows.. 2024 Loans 2nd grants lo individuals and 2023 Tol81 aclivrties Website costs Bank charges Auditors, remuneration- audiling ol accounts Auditors, remuneration for non audit work Clerks charges 8,510 514 110 543 5,370 5.370 1.320 11,850 1.320 10.200 27.564 17 543 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits lor the year ended 31 December 2024 nor lor the ye3r ended 31 December 2023. Trustèès, expènses During the year no expenses were paid lo trustees, for expenses paid for on behalf of the ¢harily aDd then reimbursed12023. £NIll STAFF COSTS There were no employee5 lor the year ended 31 December 2024 nor the year ended 31 December 2023 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrèstiicted funol INCOME AND ENDOWMENTS FROM Charitable activitiès Loans and grants lo Individuals and 299.408 Investment income 124.697 Total 424 105 EXPENDITURE ON Raising funds 9,573 Page 14 Continued
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continuÈd Unreslricled fund Charitable activities Loans and grants lo Individuals and 410 596 Total 420.169 Nel gainslllosses) on Inveslrnents 111.2951 NET INCOMEIIEXPENDITUREI 17.3591 RECONCILIATION OF FUNDS Total funds brou9hl fopNard 3.016,094 TOTAL FUNDS CARRIED FORWARD 3,008,735 FIXED ASSET INVESTMENTS Listed Investments MARKET VALUE At 1 January 2024 Additions Disposals Revaluations 2.705,457 227.057 1157,2311 133,1481 At 31 December 2024 2.742,135 NET BOOK VALUE Al 31 Decermber 2024 2.742,135 Al 31 December 2023 2,705.457 There were no investment assels outside the UK. Cost or valuation 8131 Oecember 2024 is represented by. Listed investments Valuation in 2024 C05t 144,252 2,597,883 2.742 135 The histoncal cost ol the inve51menls at the year end w¥s £2,597 88312023 £2,573,108) Page15 continued...
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- conlinuèd FOR THE YEAR ENDEO 31 DECEMBER 2024 13. DEBTORS 2024 2023 Amounts falling due within one year. Loans Provision lor loans unlikely lo be rep31d Other debtors A¢¢rued Income 21.180 20,702 121,1801 12.755 120,7021 12.883 12,755 12863 Amounts falling due after more than one yeai. Loans Provision foi loans unlikely to be repaid 19,000 31,500 11901 13151 Aggregate amounts 31.565 44 048 Loans 2023 2023 Sir Thomas White's Loan Due lor repayment 2015 and earlier Ipiovided lor as doubffull 2016 Iprovideol for as doubtfull 2020 2021 2022 2023 2024 2025 2Q27 2Q28 2029 4.395 20 185 6.073 6.806 3.701 12.500 2,500 10.000 4.000 2.500 4,475 20 185 6,073 6831 3,117 12500 2,500 10 000 4000 2500 40,180 121 1801 52 202 121.0171 Less.. Provision for loans unlikely to be repaid 18.810 31,185 Loans that are due lor repayment in 2024 and earlier are shown in Ihe accounts as due in less than on& year and any due after that dale are showr) as more than one year. Page 16 continued
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 6,690 21,690 15. MOVEMENT IN FUNDS Net movement In fLJnds At 31112124 Al 111124 Unrestricted funds General fund 3,008.735 14,3411 3.004,394 TOTAL FUNDS 3,008.735 14,3411 3.004.394 Net movement in fund5, included In the above are as follows. Incoming resources ResoLJrces expended Gains and losses Movement In funds Unrestricted funds Geneial fund 457,802 1428,9951 133,1481 14,3411 TOTAL FUNDS 457,802 1428.9951 133,1481 14,3411 Comparatives for movemènt in funds Net movement in fundB Al 31112123 At 111123 Unrestricted funds General fund 3.016,094 17.3591 3,008,735 TOTAL FUNDS 3.016,094 17,3591 3,008.735 Comparative nel movement In fLJnds. included in the above are as follows Resources expended Incoming resources Gains and losses Movement in funds Unrestricted funds General fund 424.105 1420.1691 111,2951 17,3591 TOTAL FUNDS 424,105 1420,1691 111.2951 17,3591 Page 17 continued
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 16. GRANT COMMITMENTS The following grant commilmenls exist and have bcen agreed at the year end bLJI are contingent on the projects either being fully financed andlor lull detailed reports being received. prior 10 3ny amounts being paid out by the charrty 2024 2023 Moulton College 30,000 30,000 30,000 30.000 17. RELATED PARTY DISCLOSURES Dur1ng the year ABF Soldiers were awarded grants tolalling £800 12023.. £1.2001 for which T Whenham raises funds. There weie no further related party Iran5aclions lor the year ended 31 December 2024, nor the year en(Jed 31 December 2023 18. ULTIMATE CONTROLLING PARTY The charity is under the control ol its Iruslees as Iisled within the Iruslees report Page 18
SIR THOMAS WHITE'S NORTHAMPTON CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Investment incomè Dividènds & Interest received Deposit account Interest 131,588 7,943 122761 1,936 139,531 124.697 Charitable activitiès Funds received from Coventry 318.271 299.408 Total incoming resources 457.802 424,105 EXPENDITURE Investment management costs Portfolio management 9.522 9.573 Charitable activities Clèrks charges FCA ¢harge Travel Data protection Nel change in provision lor loans Ljnlikely lo be repaid Grants lo InslitLJtions Grsnls lo individuals 57.793 1.351 130 40 49,800 1,087 140 40 100 .045 296,450 1.686 45,700 294.600 391,909 393,053 Support costs Management Website costs 8,510 110 Finance Bank charges 514 543 Governance costs Auditors. remuneration auditing DI accounts Audilor5' remuneration for non audit work Clerks chaiges 5,370 1,320 11.850 5,370 1.320 10.200 18.540 16,890 Total resoLJr¢es expended 428.995 420,169 Net income beforè gains and losses 28,807 3.936 This page does not loim part of the statutory financial slalemen15 P8ge19
SIR THOMAS WHITE'S NORTHAMPTON CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Realised and unrealised gains and losses Realised gainslllossesl on fixed asset inveslmenls 133 1481 111,2951 Net expenditure 14 3411 17.3591 This page does not lorrn p8rt 01 the slalutory financial slalemenls Page 20