iuol /AMI EM IGMG
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorpovatlng Thg lan MaGdonald Memorial Fund)
UNAUDITED ACCOUNTS
for the year ended
31st MARCH, 2025
L, Forrester Boyd
CIIAR TERED ACCOiI¥TANTS

KING EDWARD V] ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorpor•tSng The lan Macdonald Memorial Fund)
UNAUDITED ACCOUNTS
for th¢ year ended
31•t ￿R¢H, 2025
INDEX
P•9•
R•for•n¢• and •dmlNl•trntfv• d•l•l
Annual Report
Ind•p•nd•nt Eumlnerf• R•port
A¢count•nts' R•port
B•l•nca Shmt
Balanc• Sho•t •naly•ed b•ts¥•en Fund•
8tatem•nt of Flnanclal Actr¥ltl8
10.11
Notgs to the Ac¢ounts
1&20

KING EDWARD VI ALMSHOUSE, ScH(￿L
AND EDUCATIONAL CHARITY AT LOUTH
Iln¢orporatlng Tho lan MaEdoMld Memorial Fundl
REFERENCE AND ADMINISTRATIVE D￿AlL8
for the yo•r ellded
31st MARCH, 2025
Rtglfytr¥tlon number. 220158
Cl•rk
Mrs. S. Nèedham
AddM••:
Manor F8m, Gaylon•la-Wold, Louth, Lincolnshire. LN11 ORA
EX￿ffICI￿ Gov•morn
High Steward R6pros6ntativè
Chalrman. Kinq Edward Vl Grammir School Governors
Mr, R. Maltm8n
Nomlnatlv• Governorn
Llncoln•hlr• County Cotsncll
Romoved 241h June. 2019 and replaced by 8 CtNoptalfvg G¢verngr.
Louth Town councll
14 year5 from 13th Augu$l, 20221
Mr, A. Leonard
14 year8 from 13th August. 20211
Mr. O. Hobson
14 Yea￿ from 20th March. 20241
IArs. J. Makin8on-Saunder8

KING ÉDWARO VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARifY AT LOUTH
(Incorpora￿ng The l•n macdor￿ld Memorial Fundl
REFERENCE AND AOMINISTRATIVE DETAILS
forthe y•ar ended
318t MARCH, 1025
Continued...
Corf*ptstlv8 Gov•rnor8
Mrs. E. BalL4rd Iwardenl
15 year8 from 28th June. 20211
Mrs. S. E. Locking (Deputy W8rdonl
15 years from 28th March, 20221
Mr. J. Walkèr
16 years from 17th F8bru•ry, 20231
hATS. J. Barton
IS y8ar5 from 261h Jun•. 20231
Mrs. S. Hawson
15 yaar8 from 1st Sepièmb•r, 20231
Mr. l. Trowsda
IS yearu trom 318t March. 202SI
The Schame was approv8d and Sealèd by the Charill88 Commission on 7th August, 1986. gnd amanded
161h Av9U81. 2008, 2nd April. 2014, 26th Septémber. 2016 and a8 amended by resolution dalod 24th June, 2019.
Th• endo8ed Accounts hava baen prepared under the prèvislgn$ of that Schernè.
Prolfr••lonal Advl•orn
B#nkor#'.
TSB
Henry Duncan Hous8,
120 George Str88t,
Edinburgh
EH42 4LH
Ind•pendent Examlner:
Forre51er Boyd
Charterod Accountants
139 Easlgate,
Loulh,
Lincolnshire.
LN11 9QQ

KING EDWARD VI ALPASHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatlng Th• lan Macdonald Memorial Fund)
ANNUAL REPORT FOR THE YEAR ENDED 31•t MARCH, 2026
Th• Governor8 present thelr report and th8 financial slaternents for the year 8nded 31st March, 2025.
Objectives and Activitle•
The objectives ol Ihe charity 8re'.
Main ¢harlty
to provid4 accomm￿atIon for Ihe benafbt of the n88d8d Sn the Loulh aroa in the Almshou$8s of the Charity.
lo provlde rel￿f either generally or indlvldu811y for pèrson$ r08id8nt In Ihg Parish ol North Somer¢ole8
who are In condllSon5 of need. hard5hlp or di51re$s by making grants of monay or Providing or paying lor
items, ¥8ivKe$ or facililiès calculated lo reduce tha need, hardship or distress of such persons.
lo providè the $ch¢ol b8neflts ol any klnd not nomally prevlded by the local vJduc8tion 8vlhorily a5 may
from tim• lo time be agr¢¢d by tho Governors and th• $¢hool Governors aftèr ¢on8ullation with the local
•uthority.
to promote in Juch ways as the Governor8 Ihink fSt the a￿￿￿tiOn of chlldren attending tha school who ar•
in n88d ol1Sn8ncial as¥lstance.
to promola by the &xhibitions er Scholarships at Inst￿U￿Oni of hloher or lurther gducailon and in iuth other
ways 8$ the Governors think fit the educallon of parsons und¢r tha oge of 25 y•ar8 who have allendod the
school and who ora In n8ed ol fi'nancial a$8islanc•.
The l#n Ma¢donald Memorfj•l Fund
10 promote (ln suth way8 a$ the Trustaes think frt) the education of persons und8r the age of 22 y&ar8
who arè reBldenl in Louth and Di$lri¢l.
lo assist similar per80ns who are Prepa￿ng for, or engaged in any prole6$ion or trade, by proYK1ing thèm
wlth ouifils, or by pawng foes. travelling or moinlenance tyn&es, or olhar dis¢rFJtlonary banoflts.
to provida support of facllllie8 lor recreation and other leisur8 lime occupation$ for similar
young persons.
to mak& grants to any voluntary charitable organisalion Sn Louth and District, the object8 of which
In¢lvrJe the promob'on of the education of persons under the age of 22. who are in need ol lin¥n¢ial
88SlStance, or the provnion In the int8rtst$ of facilities lor recreation and other leisure kn'm8 occupallon$
for suth persons.
Within the latter two objectives. 5¢xlal we￿ar0 Interests and the potential improvernent of the conditions
of life for youno per80ns will be consid8raDoD$ to which th8 TruE18e5 must attach some importanc8.
In shaping our obj8Ctwes for the yaar and planning our aclivits'e5, the Governors, have c4)nsider¢d the
Charity Commission's guidance on public benefit.
..conts"nued

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
IlnGorporallng Th•12n Macdonzld Mernorial Fund)
ANNUAL REPORT FOR THE YeAR ENDED 31at MARCH, 2026
Continued.......-.
The nel movement in funds for the year amounted lo £114,337112023". £70,623). £123,396) of thls
related to re61rKied lund8, £8,000 to pemianent endowment leaving £1.059 ottributsble to 9on8ral reserv88,
which now 8tand al £113,842.
Futur& str8t8gy
The charily plan$ lo continue the aclivlles as oulllned above in the forthcoming y8arn 8ubject te 8ati818Ctory
funding 8rrang$menl.
Th8 balance of fund6 available Ss £31,164.38 for the school 10 Utili￿ in the future wbth the Govgmors approval.
Oulllne plannlng permi8$ion is being Sought for Crowtrea Hou88 with th? inlenllon lo increa8e the a5$et for
potsniial Sale. Faas to date are £6,340 (reports, applicallon and amended plansl,
Re¥•NesllThv8blm•nt Poll¢y
The Governors have 8913b115h8d a poI￿Y lo rnalntgin 8 lev•1 of liee re5arves lie. unreslrided fund5 not comrnitted
or Inve$led in langiblo fixad asselsl such Ihal when the liquid assets of the CharSly are inve&t8d in well e$tab116h•d
low risk lund$ they will generate suNia8nl income lo $nable the Charity to m881 ils objectNes.
Aftèr lakln9 pfDf858ional advice from F8 Weath Management Ltd the Charity opened in August, 2020 an account
with Dynamic cash management. unfortunately thi8 wmpany anded Investments in September 2021 and
commendod F5sgslone Investm8nl8. Balances from Clos Bros and Bu¢kingham BS wer8 Iiansferred lo the ehari15
An account was eponod wlth Flagstone and lotalltrd irtvest8d is £547,813. The inveètrn•nt continues lo perfom woll
The lan Macoonald M•morl•l Fund
Ther8 was on& beneficiary during this period.
Dorothy Klng Ch8ritabl• Fund
This is a fund admini81ered by the Charity under the terms of th¢ wlll of Ihe late Miss Oorothy King. The applicabon
proce55 lor grant¥ wa5 establi5h8d gnd twelve have been 10 date awarded in accordanc8 vrilh the conditions
of wish$$.
ChrfstlDe Wlkln80Th
The Charily recoived a ￿gacY under the term8 of thè will of thè late Mr8 Chri$tine Wilkinson {d￿d 231011202213nd
agreed to admini51er Ihl$18gacy in èc¢ordanc& wth the wish*s of Mrs Wikinson. Th8 legacy amouniod to
£213.744.20 and the monies dlstribuled so far under the terms ol the will had amounted lo £S.044.21
by 315t March 2025.
Risk review
The Governors hav8 conducted théir review cf the major nsks lo which the charity 1$ exp059d and systems
.conlinued

KING EDWIARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARrrY AT LOUTH
Ilncorporating The larb Macdonald Memt>rial Fund)
ANNUAL REPORT FOR THE YEAR ENDED 31$t MARCH, 2025
Conlinued.....-....
Mana9•m4nt and Oovernanca Arrangem•nts
The Trust Deed provides for a minlmum of Iwo Ex-offi¢io Gov•rnors, three Nominative GovernorJ
and six Colloplaliv8 Governor$. Wh8r8 there is a r8qulremÉnl for new Gov8rnors. these would be
Identified and appointed by the famaining Go¥ernor8. The remaining Gevernors are responsible for
the Induction of any Governor whiGh involves awarene88 of a Governo¢s r65ponsibilit￿5, tha govarnlng
decumon( adminlstrativ& procedur88, the history and philosophical appro8ch of tha Charity.
Achl•vements and P•rfomian¢•
During lh6 year the Charity has been abls lo meet its objéc￿¥08 ond haB conlinu8d'.-
lo prov￿• 115 SUPPOrt for the School.
lo provide ac¢omrnodation for the benefit of the needy In tho Louth srta. and rèllay genarally in
the Par15h ol North Som8rcotes who ar8 in haidship or distre$s.
to provide $upporl in the educ8tlon of p8r8ons under the a9e of 25 whcl are reBident In Louth
statement of Govornor•' re•pon6lbllrtk•
The Gov?rnars are re8pon8ible for preparing iha Governors, Annu81 Report and the finoncial slalemen18
in accordance wllh applicable law and Unit4d Kingdom AGcounling Slandèr4$ Iunittsd Kingdom Generally
Accepted Accounting Practic81.
The law applicable to Charities in England & Wal08 requires the Governors to Preparè finan¢ial slalemenls
for each financi81 year whlch 9iv8 a trua and falr view ol the stale of ¥lfalr$ of the charity for that period. In
preparing thesa fin8ncl81 $lalemen18, the Iru61e88 aro required le,.
sel8d suitable 8ccounting polici88 and then apply them con51slenlly,'
observe the rnethods and principles in tha Charities SORP IFRS1021
make judgernenls and e81imaie$ that are reasonable and prudent.,
&tat8 whether applicabk accounting $land8r4s have bean followed. $ubj8cI lo any
alerial departures di$clo8ed and explained In th8 financlal slalements..
prèpare the financial slatemanls on the going con¢8rn basiu urtl888 il is Inappropriale to
p￿SuMe that Iha Charity will continue in operation.
The Gov8rnor5 ar8 responsSble for k8aping proper ac¢ounting record$ th81 dlsdose with reasonable accuracy
al any tim¢ Ihe financlal position Df the Charity and lo enoble them to ensurg that the finaTh￿al statements
comply with the Charikn'e5 Ad 2011 and Accounting and Raporting by Ch8rthes.' Slalement of R6comm8nded
Pra¢ti¢e applicabl6 lo chari118$ preparing their accounts in accordance with the Financial Reporknng SlandaTd
applicable in Ihg UK and Republic Of Ireland published in Odober 2019 and the provisions of the trust deéd.
They aro also Tespon5ib1e for safeguarding the a$Éet8 of the Charity, and hence for taking reasonable 8teps for
the prevention and d&tection ol fraud and other irregularities.
Approved by the Governor5 on 29th September, 2025 and svJned on their behalf by."
Mr5. E. Balla

INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCAnONAL CHARITY AT LOUTH
Ilncorporalng The ian Macdonald Memorlal Fundl
ON THE UNAUDITED ACCOUNTS
for the year ended
316t MARCH. 2025
I report lo the ¢harily's governors on my examinallon of the accounts of the charity for the year ended
31st March, 2025, which are Bot out on pa9es 8 10 20.
R8•pon8lbllltles and ba818 of r¢port
A$ tha tharity's govemers. you 8re responsible for the Pfepaiatson of the a¢counts in a¢cordsncA with
the requir6ments of th& Charities Act 2011 (the Acll.
I report in r86pe¢l of my exarnlnotion of thè ¢harity's aCGounls carrled out under Section 145 of thé
Act and In carrying out my 8xaminalion I h8v• followad all the applicable Diractbns given by the
Charity Commission under section 145lSllbl of the Aci.
Indop•nd•#t ex•mlnor's •tatgm8nt
I have ¢omplet8d my axaminalion. I confirm that no mater￿1 rngtters h8va comg lo my att6ntion In
connecllon with the 8X8mlnalion 9iving me ¢3use lo believe that in any material respect..
accountin9 records wer¢ not kept in re8P8cI ol Iha charity required by section 130 01 th8 Act.. or
the gccouni$ do not accord with th058 re¢oids.' or
th8 accounts do not comply with the 8pplic8bl6 requireménli concomlng the form and
Gonlenl of accounts sel out in th• Ch8rlliè8 IAc¢ounls and Reports) Regul8li¢n8 2008 other
than any reqviramenl that Ihe account& giv4 &'twe and fair whlch 1$ noi a mattér
onildered as part ol an indap6ndent exzminalion.
I hav6 no concern5 and h8ve come 8croJ$ n¢ othor matt8r$ with thè ex3minatbn lo which attentlon
¥hould be drawn in this repert In order lo en4ble A propèr understanding of the a¢￿untI to b8 reach8d.
A. Millson ACA
Forrester 8oyd
Chartered Accountants
135 Ea8tg8te
Louth
Lincolnshir$
LN11 9QQ
DATE.. 7th October. 2025

HARTERED ACCOUNTANTS, REPORT TO THE GOVERNORS OF
KING EDWARD VI ALMSHOUSE, SCHOOL
AND EOUGATIONAL CHARITY AT LOUTH
lincorpor¥tlng Th8 ian Macdonald Memoyial Fund)
ON THE UNAUDITED ACCOUNTS
fof the year 8nd•d
316t MARGH, 201$
In accordance with the ongagement lettèr dotsd 9th Augubt, 2023 wo have cornplied tha financial infomialion of
Kin9 Edward Vl Am8hous8, S¢hool and Educ)li¢n81 Charity at Louth IrLXf the accounting records and
¢nfom8lion and oxplanali¢n$ you have given to us.
Th18 wporl18 made to you, in accordance with the term8 of our engagement. Our work h9$ been undortakan
No Ihatwe might ￿MplIe the accounts that wa hav8 been engaged lo ¢ompiie. Mporl to you that we have
done $0, and stste tho$e mallers that W8 havè agreed lo slate lo you in IhSs reFK>rt and for no other purp088.
To the fulk$l extenl ptsrmilted by law, we do not 8¢cepl or a88ume re8ponsibllity ie anyone other than you.
ror ourwork. or lor this repert.
We havg carried out thi8 0ng3gem?nl in accordance with technic41 guldance IS&U8d by th? Ins1Slute of
Chartored A¢counlant5 in England & Walas and have Gomplied with the ethic81 guidance laid
down by the Institute.
You have approved the account8 for thè year ended 31$1 March, 2025 and h?vè acknowledged your
respon$ibilily for them, Igr th8 appropri21enes6 el th8 8¢¢ounling basis and lor Pfoviding all Inforrnalion
and explanallon$ nac865ary for lis compilslion.
Wa have not v8rifi8d th& accuracy or compl8len•s8 of the aceounling racords or inform8Wtsn and explanalions
you have givan to U8 and we do not, therefore. éxpress any opinion on Ihe flnanclal infomialion.
¥LSJ
Forr85tar Boyd
Chartered Accountsnts
139 East9ale
Louth
Lincolnshire
LN119ao
DATE." 7th OctDb&r. 2025

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Iln¢orporatln9 Th• lan Macdonald MornorlAI Fund)
BALANCE SHEET
ASAT
31•t WIRGH. 202S
Nots
2026
2024
FIXED AS8ETS
Freehold property
Property. plant and equlprnent
Invè6tmen¢s
2b
523,370
603,918
1.127,288
523,370
569,951
1.093.321
CURRENT ASSETS
Debtors
Cgsh at bank
144
$89,794
218
803.s67
589,938
604.185
CURRENT LIABILITIES
Creditor8
14.0221
13,9321
NET CURRENT A5SET8
585,916
800,253
NET ASSETS
1,713.204
1.693.574
PERMANENTLY ENDOVRD FUNDS
1,229,646
164,0001
1,208,884
172,0001
Recoupments due
1,165,846
1.134.884
INCOME FUNDS
RèBtri¢t¢d funds
Unreslricted funds
Othor charilabla funds
433,716
448.125
10
113,842
110,SS5
547,558
558.ego
1.713,204
1,693.574
The balanee Sheet is analysgd over the various funds on tha lolkjwing page.
Thè financial 5tstem8nts have been prepared in accordance wth the Fina
eporting Standard 102 and
were approved by the Govemors on 29th S8Ptember, 2025 and $
on thair behalf by..
Mr5. E. Ballard
Mr. J. W8lker
Govemor
Governor

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Iln¢orpc+fdtlng Tho lan Macdonald Memovial Fund)
BAL4NCE SHEET
ASAT
31$t MARCH, 2025
ANALYSED 8ETWEEN FUNDS
Analy•l$ of n•t Bsset8 bolwe•n fund•
P•m￿n0nt
Unr•8trfcted
Dg•ign4tod
Othèr
202S
Totsl
Endowmont
Rostrlct•d
INote 81
(Note 91
INot• 101
INot• 101
Flxad a56•ts Inolo 21
Inve81menls Inole 31
Debtor5 Inole 41
Cash at bbnk Inole 51
Cr•ditor6 Inote 81
523,370
486.573
523,370
603,918
144
60.184
57.181
155,703
373,552
60.539
14,0221
589.794
14,0221
1,165,646
433,716
113.842
1,713,204
Fund
P•rnianont
Unr••trkl•d
2026
Endowmont
(Noto 81
R•otrlctsd
(Not• 91
Dofjlgnated
INotè 101
Othèr
INote 101
Totsl
Goulding. Johnson and
Tennyson Scholarship fund
Allison Coverdale 8cholar8hlp fund
PrK86 fund
Mlss. W. G. Howall'$
bequest fund
Extraordinary repairftjnd
General tharfty fund
Miss. Dorothy King Ch3rntab￿ Trust
Mrs. Christine Wilkinson bequest
The lan Macdonald Memorial Fund
38,443
41.136
36,225
17.626
21,308
14,4991
56,069
62,444
31,726
8,750
30,240
8,750
30.240
1.120.776
115,185
220,751
67.283
1,006,934
113,842
115.18S
220,751
24,355
42.908
1,165,646
433.716
113.842
1,713.204

KING EOWARD M ALMSHOUSE. SCHOOL
AND eDUCATIONAL CHARITY AT LOUTH
Iln¢orporating The lan Macdonald M¢morfal Fund)
STATEMENT OF FINANCLAL ACTIVITIES
for the yoai ended
3191 MARCH, 2025
2025
2024
R••¢ri¢t8d Unrt•trl¢tod PemMnent
fundi
lunds
Endowments
Total
Total
INots 111
INot• 121
Inot? 81
INGOMING REsouftces
Donations and gitt8
Inve$lmenl income
280
24,884
39,379
280
33,835
39.379
59,024
20,243
39,692
8.951
Ronts and contributions recèlved
Totsl Incomlng r••our¢o•
8,951
64.543
73,494
118,959
RESOURCES EXPENDED
Charltsbl•
Grant• payable In furthorine• of tha ¢h*rlty'* objè¢tlv••
BedehOu￿ r¢Jidénl8
250
250
250
Pr￿e8
Donailon to KEVIS Irepairsl
Grants lo indlvidua18
1.500
8.044
24.993
1,500
6,044
24,993
2,595
18,914
32,537
250
32.787
21.75
Costs of a¢t5vltl•• Sn lurth•ranc• of th• ¢h•rbty's obi•¢tbv••
Property malnknanr
Garage repalr& and no 27
Property management fee8
Insurance
Water rale$
5,171
37,551
5,171
37,SSI
9,821
1,235
420
2,215
1841
383
2,215
1841
383
2.623
972
Llghl and heat
1571
45.236
45.236
14.815
Totsl costs In lutthoran¢o of th•
charltl85 tsblo¢tlves
32.537
45,486
78.023
36,574
..¢onlinu8d
.1(

KINC EDWARD VI ALMSHOUSE. SCHOOL
AND EOUCATIONAL CHARITY AT LOUTH
(Inco￿Orating Th• lan Maedonald M8mrf41 Fundl
STATEMENT OF FINANCIAL ACTMTIES
for tho year ended
31$t MARCH, 2025
202S
2024
R8¥trl¢t•d Unr•strl¢ted Pennan•nt
lund8
Éndowm8nts
(Nots 111 (Note 121
Total
Continued..........
other •xp•ndltur¢
Govoinan¢• co•ts
Clèrks salary
sub8criplion$
Pootsg¢. 8latlonèry and advertlsing
Sundries
6,000
353
6,OCQ
353
,oDo
343
12
138
138
46
AccounlAncy
Legal and proféssional feel
Manag8mént1888
3,090
3,090
3,000
2,096
265
22e
220
Tot•1 gov8rnan¢• ¢o•ts
9,808
9,806
11.762
TOTAL RESOURCES EXPENDED
32.537
55,294
87.831
48,336
NET INCOMINGIIEXPENDEDI RESOURCES
123.5861
9,249
114.3371
70,823
Transf•r•
190
18.1901
8,000
NeT MOVEMENT Ihl FUNOS
123,3981
1,059
8,000
114,3371
70,623
G•ln•lllo58eo1 on fl¥¢d a•8Vt•
Unro8lls8d gains on invo$trnent8
8,987
2.218
22,762
33,987
30,547
114.4091
3,277
30.762
19.630
191.170
Fund balances brought ffo￿ard
448,125
110,565
1,134.884 1.893.574
1,592,404
Fund balan¢¢s carrlod 1¢*￿ard
433,716
113.842
1.165.646
1,713,204 1,693,574

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporating The lan Mo¢donatd Momtsdal Fund)
NOTÉS TO THE ACCOUNTS
lor the y•ar ended
31st MARCH, 2025
Accountlng polScie8
A¢counting conventlon
Thts charfty conslitule5 a publlc b8n8fil entSty as d6fined by FRS 102. The finandal staiemenls have
b8en pr8pared in ac¢ordance with Accounting and Reporting by Charlli85. Ststemanl of Recommended
Pra¢li¢è applicable le charities preparing their account$ in accordanc& with the Financial Reporting
Slandard applieab5e in the UK and Republt of Ireland issued in Oclob8r 2019. the Financial Reporting
Standard appli¢able in the United Kingdom and Republic of Ireland IFRS 1021. the Chadtle$ Ad 2011.
and UK Gen8r811y Accèpted Accounting Practic8.
The financial slalemants dc not in¢lude a slalemenl of cashllows on the ground8 that it is a small Gharity.
The linanei81 slalBments are presont8d in Jlerling whl¢h is the funcllonal currency of the Charity
and rounded to the nearest povnd.
The financial 51alemÈnls cover Ihe Individual charity King Edward Vl Almshouse, School and
Educational Charily al Louth.
Incomlng R88ourc•s
I Incoming 18souic*s ara in¢ludèd in full in the St81emenl of FlnAncio1 Acllvllitr5 Kvh¢n recalvable.
T•nglblg flxed ai••ts
The Charities gevernin9 document eontsln$ no power 018818 In rgspect of any el th¢ freehold propertias.
The prop6￿&& Il&t8d in note. 2a ar8 Inalianabb and 11 15 not ¢onsider8d nèc8888ry for th?m lo be capilaliséd
in tho accounts. No d8lall8 of historical ¢ost or dale DI acquhibon *r• availabb and the Gout Invefvod in
obtaining such infom8tion would b8 onèrous compared to any b¢nelbt derived Irom ony user of the aceounls.
Land Is held al cost and Is not depreTh8tsd.
Departur• Irom tha requlr•m•nt• of th• SORPIFR51021
Properly. plonl and equipment 8r8 518ted in th6 slat8menl of financial position at eosl. No depreciation has
been ehargod on the Freehcld Properly as they Bre maintained to such a standard that their residual value is
noi l&$$ thon their c05t. Tha c031 of tongityle a5sols Includes directly ottribulable increrneDtal cosls Incurred in
Ih$ir acquisition and in8tallatien.
R•#ource8 8xp•nded
Charilable 6xpendilure is applied in direct pursull of the charity'6 obltsctive8.
Olherdir8Ct and manag8rnenl oxpgndilur£ all arises frorn the day to day Dperalon of thè charity.
Funds
Restricted funds are lo bo used for 8P8￿f￿ purpo8es as lald down by the donor. Expenditure
whkh meals Ihase criteria is chawed to the fund.
Unreslri¢led fund5 are donations and other incoming resources r8ceivable or generated
for the obi&cts of Ihe charity wlhoul fvrlh8r specified purpose at)d are available as
general purposos.
Designaled funds are unrestricted fund$ earmathed by the Governors for particular purposes.
Permanent endowment funds a￿ wholly maintained on trust lo be retsined for th& benefit of the
charity as a capital fund.
Investments
Inv8sbTeni$ are included at market value 8t the 8alanc8 Sheet dats and the gain or108S
taken lo the Slalement of Financial Activities.
-12-

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUCATIONAL CHARITY AT LOWH
Iln¢orporatlng The lan M¥¢dDnald Memorial Fund)
NOTES TO THE ACCOUNTS
for tho ye*r ended
31st MARCH, 2025
Freehokl property
The following property is owntsd by the chanty but is net shown in Ihe Accounts:_
1. Th& Lodge and S¢hool, Edward Str8eVCrowtre8 Lane. Louth
2. School and pramisos, E85t Slde. Schoolhous8 Lane, Louth
3. 8 acres p18ying flelds, in and n8ar erowtre8 L8ne, Louth lol which 1 acrn is l&a$ehok
axplring 11th Aprll, 23721
4. The B8d8 heu50$. G08pelgale, Louth
5. 27 Go8polgat8, Louth
6. GarageB and store$, G05pelgate, Louth
7. Foundation House (The Qld Louth and Oislriet H¢8pitoll, Clo￿ree Lane, Loulh
Properties included und8r 1 to 3 and 7 above are usad by King Edward M Gr8mrnar School al
Louth aB scheel premi$a8 in furiheiance of a primary objective of the Charity. Properlie$
Included und8r item 4. above are occupied by the needy in furtherance ol a primary objective
ol the charlty. In the opinion ol the truJt88s Ill th?58 prop&rt￿&S rnay be proporty cen8idered
lo be inJli8nabl8.
11 would bo difflcult and costly lo allribute 8 CO81 or valu• lo the Iru81'i prop8rtiOS. Thasa 8siel•
havo been excluded from lh8 Balance Shèét as..
re118bl8 cost inlormalon and dalo of acquiiltlon IJ not available. Th• approximAle dat• ol
acquisition ol the freehold proporty18 1986, and
$*nllicant costs would b& involved which woukl ￿ enerou8 ¢ompar8d with any additional benelit
derived by the users ol the accounts In a$$esslng the trustees, Stewardship of the a$$èls.
The replacement ¢081 valuès used in re6pg¢1 of the above 8s$•ls for insurance purpose8 aré as follows..
King E￿ard Vl School and building8
Alm8heuB88 and 27 Gosp&lgate, Louth
Garages and Storeroom, Go$p81gat8, Loulh
9,043.900
1.800.000
463.235
£11,307,135
2b
Prop¢rty> plant equipment
Op•nlng
COAt
CIo8lng
Add￿0￿8
Improvemen15, 27 Gosp&lgate. Louth
Crowtree House, 38 Crcwlree Lana, Louth
Planning r8ports and application
64,496
452,334
6.540
523.370
64.496
452.334
6,540
523,370
Parman8nt endowments
523.370
523.370
-13-

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCATIONAL CHARITY AT LOUTH
Ilncorporatlng Tha lan ￿£donald Mtrnorlal Fund)
NOTES TO THE ACCOUNTS
for tho yo¥r ended
31st MARCH. 2025
Inve8tsnent¥
Surplusl
(Dellcitl o
dlspo8all 31¥1 March,
Transfers rnv¥luation
2026
Valuo at
1st Aprfl. Additlon$l
2024
Dl•po8al8
VBlue at
NomlnBI
Maln ¢h•rtty
Charltle$ ofElcial invéstment fundi
Accumulallon $harg8
$66,840
145.715
61,865
273,527
74,144
12,8941
4,699
29,396
3,168
142,821
Charlly UK Equity A 8ccumulation aecount
Charilund accumul81ion unrts
2,396.933
890.040
302,923
77,312
Chadfund income units
Natlonal AS$0¢kn8￿On of
Alm5hou$88 Comrnon
Investment fund. Incorna units
COIF Investment Fund
5,082.000
287.000
243
248
In¢orné Sharès
COIF Fixed Inter881 Fund
Incorna Sharèi
527.S40
10.779
15021
10,277
2,991.250
3,678
95
3,773
589.951
33,967
603.918
Pomian8nt •ndDwments
Restrict•d lund$
Unr4$lricted fund$'.
Designated funds
Other charitsble funds
483.811
52,987
22.762
8,987
486,573
60.1e4
53,153
1.810
2,218
57,181
589.951
33.967
603,918
-14-

KING EDWARD VI ALMSHOUSE, SCHOOL
AND EDUGATIONAL CHARITY AT LOUTH
Ilncorporatlng Th8 lan Macdonald Memor￿1 Fund)
NOTES TO THE ACCOUNTS
for the y•ar ¢nd8d
31•t MARCH. 2035
4 Debtor•
LJnt•8trlcted
D•Blgnat•d
Other
pl￿nanOnt
2025
2024
Ro•trictsd Endowment
Total
Total
R•nls- Garages
Contribution- eedehou$es
52
92
52
92
52
166
Totsl d•btoM
144
144
218
Ci•h at bank
Unre•trlcted
D••l9t)atod
Oth?r
Pemian•nt
2025
2024
Totsl
R••trlctod Endowment
Total
Cash at bank
80,539
373.552
155.703
S89,794
603,987
6 credltorn
UnM$trlctsd
D••lgnat8d
Othor
Pomian8nt
Re8trlGt•d Endowment
2025
Total
2024
Total
Accountancy
Llghl and hoat
Wal8r rale$
3,090
300
3,000
300
150
150
150
Receipts in advance
other
482
482
482
Totsl crodiiors
4.022
4.022
3,932
-1

KING EDWARD VI ALMSHOUSE. SGHOOL
AND EDUCATIONAL CHARITY AT LOUTH
(Incorpora￿￿9 The lan Macdonald Memorlal Fund)
NOTES TO THE ACCOUNTS
lor the year 4nded
31*t MARCH, 202S
Re¢oupm¢nts
B•dehous0
r•d•v01opn*nt
Total
Original advanc6
200,000
200.OOQ
Roc4Juped to 3151 March, 2024
Recoupm8nl in year
128.000
128.000
8.OlXI
8.000
Raeouped to 31¥t Mareh, 2025
136,000
136,000
Receupment outstsnding at
813181 March, 2025
64,000
64,000
Annual rtscoupment
8,000
8,000
P•man8nt endowment•
The fundts of the chgrity include tha following pemi?n8nl endowmenti:.
Balane•
Funds and
N41 ¢hang•
flxed asset
In valug of Rocoupm•nt• donated to tho
Invo8tment
tran•f•rrod
b•n•flclari••
Inot• 31
{note 71
Balance
a•at
318t March
•$at
1st Aprll
2024
2025
Goulding, Johnson and T8nnyson
Stholarship fund
Allk50n Coverdale Scholarship fund
Prize$ fund
General charity fund
The lan Macdonald Memorial Fund
37.687
40.327
766
38,443
41.136
36,225
1,006,934
42,908
809
35,513
979,293
42.064
712
19.841
8.000
1.134.884
22,762
8.000
1.165.646
-1

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EDUCAnoNAL CHARITY AT LOUTH
1Sn¢orporatlng Th• lan Macdonald Mfrmor181 Fund)
NOTES TO YHE ACCOUNTS
for the y￿r ended
31st MARCH. 2025
RestrlGt$d funds
The Income fund5 of the charity includ8 restricted fund$ comprising th¢ followlng unexpend8d balan¢es
held on trust8 lo be applled for spedfic purposes.
Bolanc
Balance
N•t
N•t Change
mov¢mont In v)lue ol
In funds Inv•stm•nt•
(Nots 111 INote Jl
aspt
31st March
1st Apill
2024
Tran•fer
2025
188. W. G. Howe11'8 Bequest fund
Goulding, John50n & fenny&on Scholar$hlp fund
Alllion Covardal8 Scholarship fund
Prize5 fund
EKlraordin8ry repalr fund
M151 Dorothy Klng Charllable Trust
Mrs. Chrillntr Wilkinson bequest
The lan Macdonald Memorial Fund
8.427
179
1361
8,750
17,626
21,308
14,4991
30,240
115.18S
220.751
24.355
16,975
20.519
12,8781
28,240
123.545
381
363
438
439
1881
11.5601
2,000
120,64ei
11.3881
19701
2.8S8
4.87S
533
15721
19351
218,399
24,898
448,125
21.586
8.987
1,810
433.716
10 Unrestrlcted fund#
The in¢om? funds of the charity include unre5trl¢led funds 8opar818d for adminlsllatlon purposes 8nd
ccrnprlse th? follo%*ing unexpended balance$.'.
88lan¢•
8•lan¢e
088t
1s1 Aptll
2024
Net
Net ch•ng8
movefflent In value ol
In funds Inv•stments
INote 121 INote 31
a6at
318t March
2025
Transler
Deslgnated funds
Other Gh•dtabla funds:
General charity account
110,5S5
751
2,218
1,810
113,842
Such a transfer wa3 made from r8Stri¢ted fund5 10 general tharfty fund5 to represent the charye for adminstrat￿n
and managemant of fund5.
-17-

KING EDWARD W ALM$HOUSI SCHOOL
AND EDUCATIONAL CHARITY AT LQUTH
Iln¢orparatln9 The lan M*¢doMld Al•motr1•1 Fyndl
NOTES TO THE ACCOUNTS
for the yoar •nd•d
31¥t MARCH, 202S
11 AD•lyÉls of SnGom• •nd •xyndlture account b+1w￿l1 r••trlctsd fund
INCOME
Ml¥*.
Gouldlng
Johnson and Amlion
Extraordln•ry T•nny¥on
Cov•rdal•
R¢palr
S¢hol•r¥hlp Schol*rAhlp Prlz•A
ODrothy
Ml$•. W. G.
Kln9
Chrl•tln• Mxdonald
Howell'• Ch•rltabl• Wllklnion M•rrborf•l
B8quoSt
rryst
b•quoit
Fund
Th• lan
2026
2024
Toui
To￿1
COIF d1v1d8￿*
33
55
105
92
artfund InGomÈ
49
eo
24
389
72
1.222
1.096
B8nk inter811
)06
373
1521
153
2,426
3,965
452
7,624
3,886
Log•Gy from Mrn.
¢hr1611r* IMlklnBon
58.744
361
438
60
179
2,847
4,656
530
8,951
e3,798
EXPENOITURE
1,5
1.SOO
24,993
0,044
2,595
18.914
Grant$ lo IndI￿dUllS
Blology room repalrs
23.493
1.500
8,044
1,500
23.493
6.044
1.500
32.537
21,509
WET IMCOMEI
IEXPENDITUREI
361
438
11.5801
179
120.6461
11,3881
19701 123.5861 42,289
rransferfrom Gernral
Chaiity Awounl
2.000
2,DOD
2,000
NET MOVEMENT
IN FUND
2,000
438
{1,660
179
20,6461
1,388
970
121,586
44.289
-18-

KING EOWARD VI ALMSHOUSE, SCHOOL
AND EC*UCATIONAL CHARITY AT LOUTH
Ilncorporatlng The lan Macdonald MemorlaS Fundl
NOTES TO THE ACCOUNTS
ftsr the y8ar ended
318t MARCH, 2025
12 Analys1$ of Income and expendlture aGcount betsyeen vnre$trScl8d lunds
2026
2024
INCOME
General chatlty
Total
Toial
Oonatton- Louth Un118d Charltie8
ank inler8s1
Income from COIF
Income from ch8rifund
Wayleav¢
Bedehou5e ¢onlribution
R8nts- garages and $lor8S
TOTAL INCOME
280
280
280
21,189
293
21,189
293
3.397
11.612
278
3,397
3,294
26,972
12,407
e4,543
28,972
12.407
64.543
25,814
13,876
5S.161
EXPENDITURE
CHARITABLE
Granlo payable In furtheranG• ol the charl1￿* oblo¢¢lv•i
Residenti Xmas fund
2S0
250
250
250
250
250
Costo of actlvltl•s In furth•r¥nc8 ol the Gharlty'• C*blectlv••
88dahouse repalrs
Gorage repairs and no 27
Property managemanl f¢e$
Insurance
S,171
37.551
5.171
37.551
9.621
1.235
420
2,215
2,215
1841
383
2,823
973
Waler r8t98
Llghl ènd he81- Bedahous68
383
45,236
45.486
157
14,815
15.065
45,238
45,486
TOTAL CHARITABLE EXPENDITURE
GOVERNANCE
Cl8rk'5 salary
Po&tage, s1otion8ry and advèrU$lng
Subseriptions
Accounlaney
Legal and profe$$ional f•8$
Management fees
Sundry expens6$
TOTAL MANAGEMENT EXPENDITURE
6.000
8,000
6,000
12
353
3S3
343
3.090
3,090
3,000
2,096
285
220
138
220
138
46
9.808
9.808
11,762
TOTAL EXPENDITURE
55,294
55.294
26,827
NET INCOMÉIIEXPENDITUREI
9.249
9.249
28.334
Tran51ei to Extraordinary Repair Fund
Transfer to Peman8nl Endowment
12.0001
18,0001
12.0001
18.0001
12.0001
18.0001
NET MOVEMENT IN FUND
{7511
17511
18.334
-1

KING EDWARD VI ALMSHOUSE. SCHOOL
AND EOUCATIONAL CHARITY AT LOUTH
Iln¢orpoiatin9 The lan Macdonald Memorfal Fundl
NOTES TO THE ACCOUNTS
for tho y¢ar ended
31st MARCH, 2025
13
Govornors, r•munoratlon
Tha Govemor8 received no remuneratSon12024.. £nlll and wore not relmbursgd for ony of th8lr
exp8ns8s durSn9 th8 ye8r12024.' £nill.
14
Control
Th• charity is controlkd by th¢ Governor•.
-2