1<201 IAffjA I
0￿[c
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
(Incorporating The lan Macdonald Memorlal Fund)
UNAUDITED ACCOUNTS
for the year ènded
31st MARCH, 2024
E, Forrester Boyd
¢IIAttfERED ACCOUNT ANTS

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EOUCATIONAL CHARITY AT LOUTH
{Incorporating The lan Macdonald Momorlal Fund)
UNAUDITED ACCOUNTS
for th• y•ar end•d
31¥t MARCH. 2024
INOEX
Pag•
•r•nc• and •dmlnl•tr•Wv• d•t•ll•
knnu•l R•port
34
Ind•p•nd•nl Ey•mln•¢• R•port
Ac¢ount•nt•' R•port
B•l•nc• Shwt
8al•nc• Sh•Bt •nalyB•d ￿tw••n Fund•
Stat•m•nt of Fln•nclal AC￿¥111?•
10-11
Not•• to th• Accounts
12.20

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorpgratln9 Th• lan MD¢donald M•morlal Fund)
REFERENCE AND ADMINISTRATIVE DETAILS
for th• onded
31•t MARCH. 2024
Reglstration numb•r- 220158
l•rk
Mrg. S. Ne8dham
Addr•*•:
MaTh)r Fami, G¥yton-le-Wold. Louth, Llno)Inshlre. LN11 ORA
Ex4>tllclo G¢Mrnor•
Hlgh Staw8rd Repres¢ntatSve
Mr8. S. Oenn15
Choirm8n, Klng Eoknrd Vl Grammar School Govemor8
Mr. R. M8ltman
Nomlnatlv• Gov•rnorn
LlnEoln•hlr• County Councll
Rèmoved 24th June, 2019 and replaced by a Co-optatlve Govomor.
Louth Ttxyn Councll
(4 yè#rs from 13th August, 2018
Mr. A. Leonard
14 ya8r8 frorn 13th Augu6t, 20211
Mr. D, Hobson
14 years from 20th Marth. 20241
Mr5. J. Makin8on&unders

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
(incorporating The lan Macdonold M•morfal Fund)
REFERENCE AND ADMINIsTRATr￿ DETAILS
for the year onded
31st MARCH. 2024
Continued.....
C(FOpta￿¥• Governors
Mrs. E. Ballard (Warden)
15 years from 28th June. 20211
Mrs. S. E. Locklng IDopLrty W8rdenl
15 year3 from 28th March, 20221
Mr. J. Walk8r
15 years frorn 17th February, 20231
Mr8. J. B8rton
IS years from 26th Jun6. 20231
Mrs. S. H8wson
15 years from 18t September, 20231
Mr. l. Trow8dale
15 yeor9 from 25th Morch, 20241
The Scheme w05 approved and saaled by thè Charilles Cornmis6k)n on 7th August, 1986. and omended
181tt AuEu8t, 2008, 2￿$ Aprti, 2014, 26th Septernb8r. 2018 Jnd as 8men(Jed by r•solulion doted 24th June. 2019.
The enclosed Accounts have been preparnd under the provl8lon$ of thal Schem•.
Prof•••lonal Advl•or•
8•nkern:
TS8
Henry Duncan Housè,
120 G8orge Street.
Edlnburgh
EH42 4LH
Independent Ex•mln•r'.
Forrester Boyd
Ch8rt8￿d Accountants
139 Ea8tgat8,
Louth,
Lincolnshire.
LN11 9QQ

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatlng The l•n Mocdonold M•morlal Fund)
ANNUAL REPORT FOR THE YEAR ENDED 31*t MARCH, 2024
The Govemors pr￿nt thdr r8port and the finanual slalemenls forthe ye8f endad 31st March. 2024
obhgctl￿l and Actlvltlgs
The tsbl8ctlve8 ol the Gharily are..
Mthln charlty
to provide acLornmod8tlon for th& benefit of the naoded In the Louth ?rtsa In thg Alff6hou$85 of the Charlty.
io prtsvlde rellef elther generally or Indivldually for per30ng rasldent in tho P8ri8h of North Somercnt88
who are In condllions of need, hordship or distrèss by maklng gr8nts of money or providing or paying lor
Iterns, 8ervlc8s or lacilities talculated lo r￿UC• the neod, hbrrjshlp or dlslre85 01 suth pèrsons.
10 provlde Ihe SGhool b8nefits ol any kind nol nomially provided by the loc81 education authority 85 may
from tlmo lo tlme be agreed by the Govemors ané the s¢hool Governors after consullalion wth the local
•uthority,
lo promote in such ways 85 tha GovemorB thlnk fil the 8duc8tlorn ol children attendlng the school wh) are
￿8￿ ol fln8nGlal 8S616tanc•.
to promote by lh8 8xhlbitlons or seholarBhips at Inst￿UtIOnS ol hiqheror further educallon and In such other
Vrny8 as th• Governors think Ilt the educallon of P8fson6 undor the 898 of 25 Y￿r4 who ttave otlended ttte
school and who 8re In need of Ilnancial 88818tance.
Th• lan Macdonald Momorl•l Fund
to promote Iln 8uch w8ys as Ihè Twslees Ihink lit) the educatlon of p?r80ns undar tho 09è of 22 years
who aro rssit1ent Sn Louth and Dlslrict.
to 8S51St sirnll8r per8on8 vkno Bre preparlng lor, or engwjad In any prolessth or trade. by provldlng them
with ouffits, or by paylng fees, trwalliro or rnaintenbnce expenses, or other dlsryetlonary benef￿.
lo provid8 support ol forilitles for recraatlon and olh8r lelBure tlme oc¢up8tions for simllar
young persons.
to make grants lo any volunlary Charitable organisation in Louth and Di5trfct, the objects of which
include the prornouon of the 8ducation of persons under the agè of 22, are In need ol finan￿81
assist8nc8, or the provision In lh8 interests of facilities for recreation and other1gi5ure lime occupations
lor such person8.
Wlthin the latter objectlv86. social welfare Inter05ts and the potential irnprovemanl of th8 cundltions
of life for young p8r50ns will be (xjnslderab'ons tD whith ¢he Trustees rnu5t attath scme importance.
In shaping our oblectSves for the year and planning our 8ctivStles, lh$ &)vernor5' have Ix)nsidered the
Charity Commlssion's guidance on public ben8frt.
rontinued

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
{Incorporatlno The l•n Macdon8ld Mernryl*l Fund)
ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH, 2024
cOn￿nued.....
R•sults
The net movamant in funds for the y88r amounted to £70,62312023.. £1 $6,017). £42,763 of this
relatgd to restrf¢t8d fund5, £8,000 lo permanent endowment188vlng E19,860 attrfbutable to general reS￿e$,
%thich now stsnd al £110,565.
Futur• •trJtsgy
The chsrtty plans lo wntlnue Ihg a￿vItIeS as oullined above in th8 lorthcoming year8 yublèct to $8tlslactory
fundlng arrangernent.
The balance of funds av&llabl8 15 £31.164.38 for thè schcol to ut1118e In Ihe future ￿th the Gov8mors approv81.
Outlln8 planning pomiis81on Is being sought for Crowtree House wlh the Inlentlon to Incwase the as8•t for
potenti818ale. Fee$ lo d8t& ore £6,540 (reports, 8ppllc4llon Bnd arn￿ded plan81.
R•••Th••llnw•tm•nt Pollcy
Th• Governors h8V• astabllshed a pollcy to rnalntoln o level of fr8• roserves li8. Unr￿trICted fund5 not committad
or invest8d in tenglblg fixed assetBI 8uch that when th• liquld 83set5 01 the Chgrity ar8 invègted In wall 86tabllBh8d
low rfsk fundB they wlll genera18 8uffScSenl incoma to enable the Charhty lo meet Ils obiecllvg8.
Aftor tAking profes5ion81 advice Irom F8 Wealth Management Lid the charlty opened In August, 2020 an account
with DynBmic ¢86h m8n8gemènt. unlortunatdy th18 ￿rnPany ended investments in Seplembtr 2021 and
recommend*1 FIAgslone Investrnents. Balances from Clo8 8r05 and Buckingham BS We￿ tr8n3leffed to th8 charitr
An account was opened with Flagstone 8nd totBlled In¥e81od Is £525,7￿ The investment continues to perfomi wel
Tha lan MaeOon4ld Momorlal Fund
Thère wa8 one benaflclary during this perlod.
Oorothy Klng Ch•rftsbh Fund
This15 a fund adrninl5t8￿ by tho Charity under Ihe toms ol th8 will of Ihg late Mlss tk¥mthy ￿￿9. The appliCat￿n
process for grants was est8blished and ten wem aw8rded in acLordance wlth the wndltions of wshe$.
Chrlatln• Vlllkln8on
The charity has agr8ed to 8drnini5ter a bwueBt undor the ￿MiS of the will of the18t8 Mrg Christine Wllkin50n
(died 231011221.
£155.000 was deposited with the ¢hartty In the ye8r 8nt18d 31st March, 2023, £50,000 in April, 2023 and
balance of £8,744.20 was depo8118d wth tho charity in March 2024.
Rlsk revl•w
The Governors have conducted tr8ir reviow ol the rnajor rSsks to thich th8 charty is exposed and 5ySterns
have been estsblished to mity'gate those ri8ks.
..conts"nu8d

KING EDWARD 111 ALMSHOUSE. SCHOOL
AND EDUCAThONAL CHARITY AT LOUTH
(Incorporatlng The l•n MB¢don•ld Memorlal Fund)
ANNUAL REPORT FOR THE YEAR ENDED 31*t MARCH. 2024
Conlinued.....
M8nao•m•nt and Govgfflan￿ Arrangom•nt•
The Tru* Deed providès lor a minimum of Ex-officio Govemor8. thr88 Nomin8tSve Governors
and six Co-OPtativ& Govemors. Where the￿ is a requirernent for new Governors, th8se would bg
identified and appointed by the remaining Govarnors. The rernaining Governors are Tespon8iblg for
th& induction of any Governorwhich involves awareness of a Govemorfs rasponsibllttleg, the govarning
document. administr8tlve proceduras, the history and ph1kjsophic818ppro￿h of the Charity.
Achl•vem•nts and Performanc
During thè y8ar the Charlly ha6 b88n able lo meet Its objecllv•9 and has Con￿nUed..-
¢0 provldg Its 8upport for the school,
to provlde 8ccommod8tlon for the b8n81il tsl the needy in the Louth area. and follef ggnerally In
ihe Parish of North Somercoles who are In hardship or d18tr86s.
- to Pfovldg support in the education of persons under the oge of 25 who 8re r8sldent In Louth
Oislrlct.
3t•t•m•nt of G0￿mor•. r•JJpon•lbllltl••
The Governors are responsSble for preparing the Govemors. Annu81 Report and th8 finand815tbtem8nts
in accordance wth 8ppllcable1ow and Unlted Klnodtsm Accounting Standord6 Iunlled Klngdom Generally
Accepted AcLountlng Pr8etlcel.
Th8 law appllc8ble to Ch8rltleg in England & W8188 réqulres th• Governor8 to prepara financl81 statoments
lor eoch fin8nelal year which glve a true and lalr view of the st8te o18ffair8 of the charlty for that p•riod. In
pr8padng th•se lln8ncl81 statements, the tnJstee8 Are required to..
$elect Bultable accounting pollcles and then 8ppW thèm cong1st8ntly',
obB8rve th6 method5 and principles in the Charitias SORP IFRS1021
make ludgem8ntB and •stima189 Ihal are reasonable and prudent..
State whether applicable accounting standards have been followed. Subject ￿ any
material departures disclosed and explainod in the financial 518tements,'
prepare lh6 financi81 slaternents on the going concern b89ig unless it is inapproprlate to
presume that the Charlty wll continue in operation.
The Govemors aro responsible for keeping proper 8ccounling records that discloB8 with re8sonable accuracy
at any time the financial p051tion ol tho Charity and to enablt them to ensure that ltte Ilnanclal statements
fnply wth the Chorltios Act 2011 and Ac(x)unilng and R8w)rting by Charili95'. Sta18m8nt ol Rewrnmended
Practice applicable to th8rSties preparing thdr accounts in accordonce wth the Financlal Reporting Stsndartl
appllcable in the UK and Republic of I￿land published in October 2019 and the provision5 ts1 the trust deed.
They are also responsible Iof safeguarding the assets ol the Charity, and henc8 for taking reasonabl& steps lor
the pwention and detection of fraud and other irregularities.
Approved by the Govemors on ...
and signed on thelr behalf by".
Mrs. E. Ballar

INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
lin¢orpornting The l*n Macdonald Mgmorlal Fund}
ON THE UNAUDITED ACCOUNTS
for tha ygar ￿dad
31st MARCH, 2024
I report tts the ¢h8rWs govemors on rny examination ol the acrA)unts of the chadty for the year ended
31st March. 2024, whkh 8ra sot out on page$ 8 to 20.
R•8ponslbllltle* •nd basls ol report
As the charity's govèmors, you are ￿ponsIble for th• preparthlon of Ihe acc¥Junts in accor(5ance wth
the requiremants ol the Charlt1e8 Act 2011 Ithe Act).
I report In respeet ol my exarnination of the charity's aGcounts carrled out under s8EUon 145 of Ihe
Act and In carylng out my ex8mlnalion I have followed 811 the applicable Olrectlons glven by th
Charfty Commission under $gdion 14515llbl of Ihe Acl.
Indep•nd•nt •xamln•r'• •tatern•nt
I have complel8d my examinalSon. l ￿nflrrn that no materfBI motter8 have corne to my 8ttenllon In
connedion with the 8xBrninBtion glvlng me c8USe to belleve that in any material respect..
• OCLountirG r8e4rds were not kept In respect of thè eharfly 88 required by gedlon 130 of thè Act,. or
the accounts do rnt Accord ￿th those records.. or
the accounts do not corrply vAth the applicable requirnm8nts ￿ncernIng th& forrn and
L¥)nlent of aC￿unt6 801 Out In the Ch&ritles IAceoun16 8nd Raportsl Rogul8tlon$ 2008 othèr
Ihan any wuir•menl th•1 Itt8 accounts glve a'tN8 ond fair view whlch18 not a motter
con$ld•r•d as part 01 on Independènl eKBrnlnatlon.
I hovo no o)ncems and have com8 acro88 no other rnatterB vlth the examinallon lo which ?ttantion
sksuld be drawn In thig Wport In ordèr to enablg a proper undarBt8néing of th8 accounts to be reached.
A. Mlllson ACA
Forre5ter Boyd
Chartered Accountants
139 E8Stgate
Loulh
Lincolnshsr8
LN11 9QQ
DATE." 11 fvJL)J<*fv4SoL ?￿L

CHARTEREO ACCOUNTANTS, REPORT TO THE GOVERNORS OF
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
lincorpornting The lan Macdonald M¢morlal Fund)
ON THE UNAUDITED ACCOUNTS
tor tha y••r endod
31*t MARCH, 2024
In actordance wth the engagement letter dated 9th August. 2023 we havè compliad the financial informatK)n of
Kiro Edw8rd Vl Almshou88, School and Educallonal Charity at Louth from the ￿Coun1lng re(x)rd8 and
information an¢J expl8n8tions you have giv8n to us.
Thls report is m8d• lo you. In accordanc8 ￿th the18rms of our eng8u*nent. Our work has been undartaken
80 that we might compile the accounts that We have been 8ng8ged to compilè, report lo you thal we hav•
¢k)n8 so, ond stale those mallers th81 we have agreed to 8tale lo you in thls raport 8nd for no other purpose.
To Ihg lullesl extent permilled by law, we do not a￿ePt or assume wsponslbllity to anyone other than you,
for our work, or for Ihl8 rèport.
We have carried out this engagement In accordonce ￿t￿ tgchnlc81 guidance18SU8d by the In8titute Of
Ch8rtered Accounlants in Eng18nd & Wales and have complled wlh ethlcal guidanee laid
down by the Institute.
You have approved tho accoun¢8 for th8 yaar ended 31st Mard). 2024 and h8vo acknowl8dged your
reBpon3ib11ity for them. for Ihe appropriateness of the accounting bAsls and lor provldlng 811 inlorrnatlon
8nd explanatlonB necessary for Its compllation.
We h8ve not v8rilietJ the accur8cy or eomplelenesB ol the accounllng r8c¥)rds or inforrnollon and explanallon
you h8v• given to US and w8 do not, therefore, exprass any opinkjn on the financial Information.
Forr85ter Boyd
Chartered Ac(£Juntant
139 Easlgate
Loulh
Lincolnshlre
LN11 9QQ

KING EDWARD W ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatln9 Th• lan Ma¢donald M•morlal Fund)
8ALANCE SHEET
ASAT
31st MARCH, 2024
2024
2023
FIXED ASSETS
Freehold property
Property, plant and equlprnent
Inv8Stments
2b
523,370
569,951
1,093,321
522,698
539,404
1.062,102
CUPREMT ASSETS
Debtor8
Cash at bank
218
1,206
$32,g95
So3,￿7
604,185
534,201
CURRENT LIA81LITIES
Cfedltors
13,932)
13,8991
NET CURRENT ASSETS
600,253
530,302
NET ASSETS
1,693,574
1.592,404
PERMANENTLY ENDOWED FUN08
Capllal
RecDupmenl8 du$
1,2C6,884
172,0001
1,185,674
180,0001
1,134,884
1,105,674
INCOME FUNDS
Re51r+cted funds
Unrestrieled funds
448.125
397,732
10
Other charllable funds
110,565
$58,690
486,730
1,693,574
1,592,404
The balance sh￿t IS 8n8lysed ov8r thè vodouB funds on the follwng page.
Thtr financial stat8rn8rit5 have bean pre
wer8 approve(I by the Govemors on ..
ared In accordance ￿th th¢ FTnanclal Reporting Standard 102 and
8nd sign8(l on their behalf by..
Mrs. E. 88ll8rd
Mr. J. Walker
Governor
Govemor

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporating The lan Macdonald M•mortal Fund)
8ALANCE SHEET
ASAT
31•t MARCH. 2024
ANALYSED BETWEEN FUNDS
Anal￿1¥ of n•t b•lw••n fund•
P•rmon•nt
Endowm•nt
Unr•8trlct•d
Daslgn•t•d
Oth•r
2024
Total
(Not• 81
(Not• 91
(Not• 10)
INot• 101
Flxed asset8 (notè 21
Investrnents Inoto 31
Debtor6 Inole 41
Cash at bank Inote 51
Credllors Inole 61
523,370
463,811
523.370
569,951
218
52,987
53.153
218
61,126
13,9321
147,703
395.138
603,967
13,9321
1,134,884
448,125
110,565
1,693,574
Fund•
P•rnMn•nt
End*)wm•nt Ro•trlct•d
{Not• 81
INol• 91
Unr••trlet•d
Oth•r
{N¢)t• 101
20Z4
D••lgnat•d
(Not• 101
Total
Gouldlng, Johnson and
Tenny8Dn scholarship fund
lison Coveryla18 scholarship fund
Prlz8s fund
Miss W. G. Howell'¥
bequest fund
Extraordinary rgpair fund
Gener81 charity fund
Miss. Dorothy King Charitable Tw8t
Mrs. Christine Wilkinson b8qUÈSt
Th8 lan Macdonald Morn0ri81 Fund
37,687
40.327
35.513
16,975
20,519
12.8781
54,662
60.846
32,635
8,427
28.240
8,427
28.240
1.089,858
133,545
218,399
86,962
979,293
110,565
133,545
218.399
24.898
42,064
1,134.884
448.125
110.565
1,693,574

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatin9 The lan Macdonald Mernorlal Fund)
STATEMENT OF FINANCIAL ACTIVITIES
for the ye8r •nded
31st MARCH, 2024
2024
2023
R•8trl¢tsd Unrestrlc¢•d P•miangnt
fund$
fund8
Endowm•nts
(Noto 111 (Not• 12)
Total
Total
Inoi• 81
INCOMING RESOURCES
Donations and grfts
Inveslmonl In￿me
58,744
5,054
59,024
20,243
39,692
155,280
8,202
36,578
15.189
39,692
Rents 8nd eontrlbullons rec¥ivad
Total Incomlng mourco8
63.798
55,161
118.959
200,060
RESOURCES EXPENDED
Chwltsbl•
Grant• p•y•bl• In furthgr*nc• ol tho ¢harlty• obl•cil¥••
B8dtshou88 residents
250
250
250
Priz85
Gfont8 to SndlvldualB
2,595
1B,914
2,595
18,914
24,165
21,509
250
21,759
24.415
Co•t• of •etl¥ltl•• In furtheranu of th• charfty• Ob￿CtIV0•
Prop￿tY malnton8n¢•
G¥rage repaiTS 8nd no 27
Property management lees
Insurance
9,621
1,235
420
9,621
1.235
420
5,621
276
2,623
973
1571
2,623
973
1571
1,642
Water rates
LvJht and heal
506
14,815
14,815
9,782
Totsl costg In furth•ranc• of th•
ch#rill￿ obJ•ctlv•o
21.509
15,C65
36,574
34.197
..contlnued
-11

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
(Incorpora￿n9 Tho lan Pllacdonald Momori•l Fund)
STATEMENT OF FINANCIAL ACTIVITIES
for the yoar end•d
31st MARCH, 2024
2024
2023
Re•trlcted Unre8trlct•d P•m)an•nt
fvnds
fund•
Endowm•nts
{Noto 111 INote 121 {noto 81
T¢*Jl
Toial
Contlnu8d..
Oth•r •xp•ndltur•
Gov•rnanc• cos
Clerks Balary
Sub$ulption8
Posta￿, stalionery and advertising
Sundries
6,000
343
6,000
8,OLY)
12
46
56
50
Accountancy
Legal and profe8s1onal f
M8nagernenl fee
3,C4)0
2,096
265
3,000
2,098
265
3.090
454
Total 90￿MIne• ¢o•ts
11,762
11,762
9,846
TOTAL RESOURCE8 EXPENDEO
21,509
26,827
48,338
44.043
NET INCOMINGIIEXPENOED} RESOURCES
42,289
28,334
70,623
156,017
Tran•f•rn
474
18.4741
8,000
NET MOVEMENT IN FUNOS
42,763
19,860
8.000
70,623
156,017
Oaln•lllo¥g••1 on fixed a#￿t¥
Unreall8ed gaSng on Snve51mènts
7,630
1,707
21.21D
30,547
17,1651
50,393
21,567
29.210
101.170
148.852
Fund balances brought forymrd
397.732
88,998
1.105.674
1,592,404 1.443,552
Fund balance• carrfed fprw•rd
448.125
110,565
1.134,884
1,693.574 1,592.404
-11-

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Iln¢orporntlng Th• lan Mocdonald Mamortal Fund)
NOTES TO THE ACCOUNTS
for th• year end•d
31•l MARCH, 2024
Aecountlng pollclos
Accountlng convention
The charity Gonstilute8 a public benelit entlly as defined by FRS 102. The Ilnanrial statements have
been prepared in accordance wlh Ac<x>unling 8nd Reportlng by Charlli8s". Stst8rn8nl ol Recommended
Practice applicable to charities prèpadng their 8crA)unts in accord8nca wth the Financial R8POrting
Standafd gpplicab5e In the UK and Republic ol Irdand i$5ued in October 2019. the Fin8nci81 Rèporting
Si8ndprd applicable In tha United Kinodorn and Republic ol Ireland IFRS 1021, the Ch8rilies Act 2011.
nd UK Generally Accapled Acwunting Practs¢e.
The fin8nrial stotements do not Ind￿je a slatemènt ol cashflows on the grounds that It is a Small charity.
The finanri81 statèments 8re pro8ented in sterling which Is the functlonal Currency of the Charity
and rounded to the near851 pouft(J.
The fin8ndal st8t8rnenlg cover the individual charity King Edword Vl Alm$house, School and
Educ8tion81 Chority al Louth.
Ineomlng R•aoure••
All incoming resour￿ are Includod In lull In the Statement of Fin8nao1 Actr'vilies vthen rec4iv8ble.
T•ngiblo fbx•d 4•••t•
The ch8rltiès gov8mlng docurn8nt cKJntdln8 no power of $8le in respect of 8ny ol the fr8ehold propertlgs.
The propertles11sted In note. 2a are inalianable and ills not CLJn8idered necessary for them to bg capitalls8d
In the 8co)unts. No delallB of historfcal co81 or dalè of acquisition Bre avall8ble and the cost involved In
obtsinlng such information bKJuld be onerous cA)mpared to any benofit derfved from any user ol tho accounts.
Land is hald at cost and Is not d8precl8ted.
D•partur• from th• r•qulr•m•nt• ol lh• SORP{FRS1021
Property, plant and equipment 8Te 818ted Sn the 3tatern8nt of fln8nci81 p081tk)n 81 cost. No depreclation ha
been charged on the Frèèhold Property 8$ they are m8lntained to such a standard Ihat their fesidual value is
not le68 than thglr cL)$t. The ￿$t of tanglble 888818 Includes dlrg¢tly attributsble incromenlal costs Incurred In
their acquisillon and Installation.
R8Boure•• •xpend•d
Charilable 8xpendltur8 is applied in direct pursuit ol tho d)arity's objectives.
Other direct and management 8xpenditur8 all arises from the day to day operation of the ¢harfty.
Fund•
Restrlcted funds ar8 to be used for 5peclfic purp088S &8 laid down by the donor. Expenditure
which meets these crileria ¢5 charged to the fund.
Un￿lncl&d funds are donalion5 and other incoming re5ourc￿ re(%ivoble or generated
for the objects of the charity wthout further sp8cifiad purpose and are available as
general purposes.
D85ignated fvnd3 are unrestricted funds earmarked by the G)vernor5 for partlcular purposes.
Perman8nt endowment funds 8re wholly maint8ined on trust lo be retained for the benefit of the
Cha￿tY as a capital fund.
Invostments
Inveslrvents a￿ included at market value Èt the Balan{￿ Sheei date and Ihe gain or k>ss
taken lo the Statement of Financial Aclivitl85.
-12-

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatlnq The lan Macdonald Memorial Fund}
NOTES TO THE ACCOUNTS
for the y•ar end•d
31st MARCH, 2024
Fre•hold property
The following property is owned by the charty but Is rKJt shom in the AQ￿un￿._
1. The Lodge and Sohool, Edward Slre8tlCrowtre8 Lane. LDUth
2. SchcK)l and pramises, East sidg, Schoolhouse Lone, Louth
3. 8 acr85 playing fi8ld5. in and near Crowiree Lane, Louth lof which 1 Ocre Is leasehold
expidng 11th April, 23721
4. The Bede hou￿. Gospelgate, Loulh
5. 27 Gospelgate, Louth
6. G8rdgas and stor88, Gogpdgate. Louth
7. Foundation House (The Olé Louth and Dlstrfct H05pitsII. Crowtrne L8n&. Louth
Propertl88 Included under 1 10 3 and 7 8bovè a￿ v98d by King Edw8rd Vl Gr8mmar School at
Louth as xhool pr8mi8es In furtherance ol a primary obje¢Uve of the charbty. Propertl88
Included under Item 4. abov8 ara ocLupled by the needy in further8nee of 8 primary obJ8CtSv8
ol the ch8rlty. In th• oplnlon ol the tru$le¢s all IheBe propertW8 may be property consldared
to b• in8llenable,
It would ￿ d+fiicult and c0811y to attribute 8 CO8t or value lo tho In￿1,$ properties. These assèts
have baen excluded frorn th8 Balance Sheet aB'.
rdiable cost Inlomallon and date of acquiBltion18 not ovallable. The approxlmate datts of
acquisition of the freehold property is 1986, ond
S￿nifir8nt c#)sls would be Involved whSch would bo onerous ¢omp8red wlth 8ny 8¢JdltlonÈ1 benefit
derived by the usèrs of the ￿coUnt9 In aB88ssing Ihg irust8es' $18wardship ol the 8BSgts.
The replac8m8nt co&t valueg used in r&8ped of tha above 85581s for insurance purp08es are as folk)ws.'
Kiry Edw8rd Vl School and bulldlngs
Almshouses and 27 Cknpolgalg, Louth
Gar8oes and Storeriy)m, G05pelgate. Louth
9,043.KlQ
1.800,000
463,235
£11,307,135
2b
Prop•rty. plant and •quipm•nt
Op•nlng
co•t
Cloglng
colt
Additions
Improvements, 27 G05pelgale. Louth
CrOwt￿e House, 39 Crowtrèa Lane, Louth
Planning reports and application
64,496
452.334
5,868
522.698
64,496
452,334
6.540
523.370
672
672
Pemanent enth)vm8nt5
522,698
672
523,370
-13-

KING EDWARD VI ALMSHOUSE. SCHI)OL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporating Th• lan Ma¢don4ld Momorfal Fund)
NOTES TO THE ACCOUNTS
for tho year endad
31¥t MARCH, 2024
Inv•stments
8urplu•l
ID•llclt) on Valu• at
Addbtlon•l dl8pog•11 31st March,
Olspo•al8 r•valuatlon
2024
Valu• at
1st Aprll,
2023
Nomlnal
Miln charlty
Ch8dllo8 oificlal InveBlm8nt funds
Accurnul8llon shares
666.840
129,903
15,812
145,715
ChBrtty UK Equtty A awumulallon account
Charffund accumulatK)n units
Charfund Income unlls
National Assoclalion ol
Almshou¥es corn1￿n
Investment fun(J - Incorna unlts
COIF Investmgnt Fund
Income Sh8rn8
COIF Flxed Inlgr&sl Fund
Incom& 5h8Te8
2,396.933
890.040
58,080
262,252
75,523
3,785
11,275
11,3791
61,865
273,527
74,144
5,092.OC4)
267.OLKI
243
527.540
9,884
896
10,779
2,991.250
3,523
155
3,678
539,404
30,547
569,951
PgrrnBnont enilownènts
442,601
21,210
T,630
463.811
52,987
Restricted lund8
UnrestTlcted funds:
Designatad funds
Other charitablè fund8
49,920
1,707
53.153
539,404
30.547
569.951
-14-

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
lincorporoting The lan Macdonald M•morlal Fund)
NOTES TO THE ACCOUNTS
for th• ￿ar endod
31AI MARCH, 2024
4 Dobtor•
Unrnztrlct•d
D••lgnatsd
Oth•r
PornMn•nt
2024
2023
Rè*trlct•d Endowm•nt
Totsl
Totsl
Rent8- Garage
Conlributlon- Bed8hou888
52
166
1,040
166
Tt>tsl d•btor•
218
218
1,206
C••h #t ￿fik
Unr••trlct•d
P•mian•nt
R••trlct•d Endowm•nt
2024
Total
2023
DMlgnat•d
Total
Cash at bank
61.126
395,138
147,703
603,967
532,995
B Cr•dltorn
Unr••trfctod
D••+gnat•d
Oth•r
Parm•n•nt
2024
Tot•1
2023
R•strfctsd Endowment
Totsl
Accxjuntancy
Light and heat
Water rates
3,0(M)
300
3,000
300
2,970
245
150
150
150
52
482
Recelpts in &lvanc
Othor
Total credltorn
3,932
3,932
3,899
-15-

KING EDWARD VI ALMSHOUSE, SCHOOL
ANO EDUCATIONAL CHARITY AT LOUTH
Ilncorporatlnq lan Macdonald M•morlal Fund)
NOTES TO THE ACCOUNTS
for the year ended
31•t MARCH, 2024
Recoupment•
B•dohouts•
Total
r8developm•nt
Origlnal advanc
200,C(N)
200.000
Recouped to 318l March. 2023
RecOuprn￿I In ye8r
120,￿)0
8.OLKI
120.000
8,000
Recouped to 31st March, 2024
128,000
128,OCrfJ
R8coupmenl out8tandlng al
at 31st March, 2024
72.000
72,0
Annual r8couprnent
8.Th)0
8.OC4J
P•rmon•nt ondowm•Tht•
Th8 lund8 ol the charity Indude the follcrtlng pemanent ￿￿O%￿nant8..
841￿c*
Funds ond
Balon¢•
N•t chJry•
flxod •88•t•
In valu¢ of Recouprn•nt• donat•d to th• 31•t March
Inv•stm•nt
trpnsfèrr•d
b•n•ficlarl•
2024
Inoto 31
Inots 71
2023
Gouldlng, Johnson and TennyBon
Scholarship fund
Allison Coverdale Scholarship lund
Proes fund
General chanty fLJnd
The lan Macdon81d Memorfal Fund
36.978
39,566
34,845
953.011
41.272
37.687
40,327
35,513
979.293
42,064
T59
668
18,282
792
1,105,674
21,210
1,134.884
-1

KING EDWARD VI ALMSHOUSE. SCHOOL
ANO EDUCATIONAL CHA￿Ty AT LOiJTH
Ilncorporatihg Tho lan M•¢donqld kl6morl•l Fund)
NOTES TO THE ACCOUNTS
forthe y￿r •fitsd
31•t MARCH. 2024
R•8trlct•d fvnd8
The Income fvnds of the th8rtty Sndude mtrlct8d frJnL18 0)mprfslng the followlng Unexp￿ded bolanc¢8
hdd on tru$ts lo be appli8d for 8p8dfic purposts.
B•linc•
asat
1st Awll
2023
N•t
N•t chango
mov•m•nt In ¥alu• ol
In fund# Invg•tm•nt•
•#at
31•t M4r¢h
2024
(Not• 111 INots Jl
Ml¥&. W. G. HowdV$ 8wuostfund
Gouldlng, John8cn & Tènnyson &*o18r8hlp fvnd
Ilson Co¥erfJle Scholar8hlp fund
Prfzes lund
Extraordln•ry rep8lr fund
Ml&$ Dorothy King Ch8rftable Trust
hArB. chrI8￿n0 Wllklnson btyueBI
The lan MJcdonald Memodol Fund
8,181
10,479
19.921
12731
26,240
147,808
155,000
24,578
188
1331
1871
1821
8,427
16.975
20,519
12,8781
28,240
133,546
218,399
24,898
225
271
338
409
12.5991
2,000
116,4891
80,862
3,032
3,184
06
leo81
16371
397,732
44.289
7.830
1,526
448.125
10 Unr•¥trlct•d fund•
The Inrxmne funds of the charity Indude unr061fieted fund• •¢paratwJ for 8dminiBlr8tion purpJ8e8 and
ec¢npdbe thè follo￿ng uneypended bolance8'.-
a•l*nc•
B•lanc•
N•t
N•t ehanq•
m￿rn•nt In v4lu• ot
In fundi I￿￿#trn0￿t•
1•t *4>rll
2023
31Jt March
2024
Tr•nif•r
(Nots 121 {Nolg 31
D••lgnatsd fund•
oth•r Charl1ab￿ fvnds:
Gonorol chadty See￿nI
88.998
18,334
1,707
1.526
110.565
Such o transfer was rnade fr¢m reslricted funds to Q8neral th8rlty to represent the charge hr admin8tr8ts.on
and managernent of funds.

KING Et>WARD VI ALMSHOUSE. SCHOOL
O EDUCAT1014AL CH*An AT LOUTH
OncorporAlngThe lan Mu¢donold MemNl•l Fundl
NOTES TOTHE ￿COuNT8
for tho ￿*r •nded
31Bt PAARCH, 2024
11 An4￿b5 ol Incom• wd oxpendblur• x¢ount betsM•n r•8td¢t•d fvnd•
INCOME
MI￿.
Goukllngl
Dorothy
John•on And Alll•on
Ml•*. W. G.
Klnq
Chrl•tln• Micdon&ld
Extraordln•ry TwnDy•on
Cov•rd•l•
Howell'• Ch•rltsbl• %lllkln8w M•mor141
R•palr
8cholar•hlp 8cholornhlp Prlu• Baqu￿t
Tru•t
b•qu••t
Fund
Th• lan
2024
2023
Total
Tot•1
COIF dI￿d•n￿3
37
92
70
Ch•nfund Inco
49
59
24
436
457
73
1.Oq8
781
Bank Inlefeol
172
20T
85
1,536
1,613
256
3,666
Logacyfrom Mrn.
chr￿ty￿ Wilklnaon
58.744
58,744 155,000
22S
271
2.008
60.802
335
e3.798 158,502
EXPENOITURE
2,59S
2,595
18.914
Gtani8 to IndN4dufjl*
18,49r
417
24,165
2.595
417
21,S09
24.165
NET INCOMEI
IEXPENDITUREI
225
271
12.5991
116,4891
60,852
1821
42,289 132,337
Translor Irorn GO￿￿1
Charbty ACcrA￿l
2,0
2,000
NET MOVEMENT
IW FUND
225
271
2.599
16,489
60,852
82
42.269 134,337
-18-

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CTriARITY AT LOUTH
In¢orporatln9 Th• lan Matdonald Momorfal Fund)
NOTES TOTHE ACGOUNrs
fty tho )*ar •nd•d
31At MARCH, 2024
12 Analy•l• of InMm• and •xp•nditur• aG¢ounl b•twoon unr••tri¢tsd lund¥
2024
Total
2023
INCOME
Ggn•ral cha1￿Y
Totol
Donqtion- Louth Unlied ChBrftb
88nk Interest
Incorne from COIF
lrtome from charilund
W4ylea¥8
8edeheu8e wntrfbuucn
R8nts- gar8g85 and strye$
280
280
280
2,W1
314
11,612
278
11,fj12
278
3,294
3,294
3.480
25,814
13.878
55,161
25,814
13.878
55.161
22,874
13.704
43,558
TOTAL INCOME
EXPENDITURE
CHARrfABLE
Qt•nts p•yabl• In furlhr4nr• olth• ch•rW¥ ob￿¢11￿•
R83ldefit¥ Xm88 fund
250
250
250
250
250
250
oxts ol octlvltlm In furth•rnnc• olth• ch•rf1￿¥ obj•et￿*
88d6hou8e wpalrs
Gwr49o r8p81r8 and no 27
Propety mAnBo8mènt180s
Injurance
9,621
1,235
420
9.821
1,235
420
8,621
278
1,008
1,642
72
2,023
973
57
14.815
2,623
973
571
14,815
15.065
Watsr ral88
Llght •nd heal- 8edoh¢u$08
9.782
TOTAL CHAIUTABLE EXPENDITURE
GOVERNAPXE
Clerk's &al&ry
Post8go. staUDnery and 80v&￿81￿j
Subscriptlons
Accounlancy
Legal 8nd profe88lonol lee
PknnBg8m8nl fee$
Sundry expenses
TOTAL MANAGEMENT EXPENOITURE
6.OOD
o,Doo
12
343
6.000
343
3,000
3,000
2.0
3,090
265
265
454
50
11,762
11.762
9,846
TOTAL EXPENDrruRE
20,827
26,827
19.87e
NET INCQMEIIEXPENDITUREI
28,334
28.334
23.680
Transfer lo Extraordinjry Repair
Transfer tr> F8rn8n8nl EndowThènt
12,000}
18,0001
12.LKJOI
18,OWI
12.0001
IB,0001
NeT MOVEME1￿ IN FUND
18.334
18,334
13,680
-1

KING EDWARD VI ALhlSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
{incorporatlng The IHn Macdonald M•morfal Fund)
NOTES TO THE ACCOUNTS
for th8 y•ar ended
31st MARCH, 2024
13
Govarnorn. romun•ratlon
The Gov8mor6 receivèd no remuneration12023'. £nlll 8nd worè not r8irnbur58d for any ol thalr
expenses during Ihe y&ar12023'. £nill.
14
Control
Th8 chgrfty Is controllad by the Govemorn.
-20-