DocusbJn Etwelope ID." 2C22E991-C37WB4A1-83E7-70CEC4C56AS8
THE MAGNUS EDLICATIONAL FOUNDATION
TRUSTEES. REPORT AND ACCOUNTS
FOR THE YEAR ENDED
5 APRIL 2026
Charlty No 528253

Dot￿0￿ Envelope ID.. 2C22E09fj￿?9-84A1.8J￿7-7oCFc4C5G￿6
THE MAGNUS EDUCATIONAL FOUNDATION
YEAR ENDED 5 APRIL 2026
CONTENTS
Page
Charlty Refeien¢è and Adminlstrative Detsils
Tru5tees' Report
2to5
Statementof Financlal Activlties
Balaneè Shèet
Unrestrlcted Funds
Rèstrittèd Funds
Endowment Fund5
io
Notes to the Atttsunt5
llto21
Independent Examlnerfs Report
22

Docuslgn Envelope ID_. 2C2?￿￿l£37U-84Al43E7-7OCEC4¢58As6
THE MAGNUS EDUCATIONAL FOUNDATION
CHARITY REFERENCE AND ADMINISTRATIVE DETAILS
YEAR ENDED S APRIL 2026
Charlty No.
528253
TRUSTEES SERVING IN YEAR TO 5 APRIL 2026 AT DATE OF APPROVAL OF TRUSTEES. REPORT UNLESS OTHERWISE
INDICATED
Ex Officio Trustees
The Mayor of Newark- Cllr D Ledger- Appointed 15 May 2024,
Resigned 11 May 2025
The Mayor of Newark- air B Corrigan- Appointed 11 May 2025,
Resign&d 10 May 2026
The Mayor of Newark- Cllr L Roulstone-Appointed 10 May 2026
The Re¢tOT of Newark- Rèverènd C Llon - Appointed 18 October
2021 ResÉgned 21 July 2025
The Rector of Newark
Reverend D Marshall Appointed 6
September 2026
Nottln8hamshlre County Councll Trustees
Cllrl Barlow
Newark Town Councll Trustees
air D Moore
Cllr l Geaiy
D55tYl¢t Chur¢h Coun¢il Trustees
I Plowlett
Co-optatlve Trustees
M D Beavmont CBE
AJ FÈ2rn Ichalrmanl
I l Derry (Vice Chairman)
G S Cartledge CBE
M Furness KC
R L Watklnson
J John50n- Resigned 14 May 2026
Clerk to the Trustees
Mrs A Allison
Admlnistrator
Dunczn & Topli5
NG14 ITW
14 tondoll Rodd, Newark, Nottinghamshire,
Charity Offices
Olympic House, DoddinBton Road. Lincoln LN6 3SE
Independent Examlner
Adrlan Halgh, Stephenson Nuttall & Co. Chartered Accountants,
618 Castle Gate. Newark. Nottinghamshire NG24 IAX
Bankers
National Westmlnster Bank PIC
Property Agents
Brown & Co., The Old Bakery. 3 Norman Way. Melton Mowbrav,
LE13 IJE
InvestmentAdv150rs
Brewin Dolphin SecuritlE5 Ltd.
Ojymplc House, Doddlngton Road, Llncoln, LN6 3SE

Dow5iqn Envelope ID." 2C22E991.C379.84A1.83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES
YEAR ENDED S APRIL 2026
The Trustees present their annual report and financial statÈmÈnts for the year ended S April 2026. The Flnancial
Statements have been prepared in accordance with the At¢ountln8 Pollcies set out in note I to the aceount5 and in
accordan￿ with the provisions of the Statement ol Recommended Pr2cticÈ ISORPI "Accounting and Reporting by
Charities" IFRS 1021.
Oblectlves and Actlvltles for the Pub￿¢ Benefit
Subject to payments to the Charity called Magnus Charlty number 222545 (referred to as Non-Education Account In the
Financial Statements) the maln objects of the Charity are t)roadly as follows'.-
To provide for the Magnus (hurth of England School such special benefits not normalty provided by the local
education author%ty.
Promotlng the education of such pupils and former pupils under the age of 25 in need of financSal assistance.
Promoting musical education of puplls attending the school and of young choristÈrs of the P2rlsh church.
The objects of the Magnus Charity number 222545 are to apply three ei8ht5 Of the clear yearly Income ol The Magnus
Educational Found3tlon as follows..
lal
Ibl
As to two-ninths thereof in paying six Choristers and six Low Boys or Asslstant Chortsters in the Parish Church of
the Etcleslastlcal Parlsh of St Mary Magdalene, Newark upon Trent, In such proportions as the Vicaf and
Churthwardens of the said e¢clÈsiastical parish think fit.
As to a further two-ninths thereof in maklng payments in such proporti¢Trns as the said vicar and churchwarden5
think fit to the Parish Clerk, Sexton and Vergers of the said eccleslastlcal parlsh, or il there be no parish clerk
then to thÈ person or persons for the time beln8 performlng the dutles in the said parish customarily performed
by the paylsh clerk.
As to a further two-ninths thereof in repairing and malntaining the sald parlsh church and the furniture and
fittings thereln.
to the remaSning three-ninths thereof in paying the same to the Nottingham and Distrirt Hospital
Management Committee or its lawful successor for application In providing facilities lor the benefit of the
patients in Newark hospital for which provision is not made out of public funds.
The Trustees confirm that they havo referred to thp gUSdan￿ contalned In the Charlty Commlsslon's gener318uldan
gn publlc beneflt when revlewln8 thè Trust's alms and oblpctive5 and in planning future attlvltiÈs and settlng the 8r•nt
maklng pollcy for the year.
141
Grant Makin8 Poll£y
The Truste25 consider 5pedfic applleations. relevant to the charitable objectives of the Founijatlon, from the Song School.
thE Church. and the Magnus Church of England School. The Trustees encourage the recipSents of speclal grants to provlde
reports of their subsequent achievements.
The Magnus Chaiity grant payments are made annually to the appropriate recipient5 prescribed by the 5ch2me. These
payments are rnade in their entirety normally in November following the year end of 5 April.
Achievements and Performance
The Tr¢Jstees tonsider that the perforrnance of the Charlty thls year has been satisfactory.
The following grants were charged to the Edutation Account.. -
Instltutlon-
The Ma8nus Church of England School:
General Grant
Music Tuitlon Grant
European Tour
Church-
Newark Team PCC- Choral Scholarships
8,400
30,000
3,000
Indlvlduals-
Pupils of the Magnus Church of England School..
Grants to Pupils 18 x £250

Docusign Envetope ID.. 2C22E991-C379-84A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES- ¢ontÈnued
YEAR ENDED 5 APRIL 2026
In additlon. the Edurdtion Account provided funds for the Expenses of the Song School of £12,987, and Song School
Master Grant of £36.905. The Education Account also provldÈd a grant fjf £12,(YJO for rowlng tultlon to the Magnus
Church of England Academy.
The followin8 grants were charged to the Non-Educ8tion Account Scholarship Fund, for which an advance of
£36,000 was pald durlng the yèar leaving £6,442 to be paid alter the year end to the prescribed reciplents ol the
Ma8nus Charitv..
111 Choristers and Low Boys
121 Parlsh ClerK Sexton and Vergers
131 Repairs to Parlsh Church
141 Newark Hospital
9,432
9.432
9.431
Hnan¢lal Revlew
Review of financlal performance
The Statement Financial Activities Indicates Total Income of £234.07312025 £246.2081 and Total ExpÈndityre ol
£284,22112025- £297,99GI. Total Expenditure includes Charitable Activities of £187.42912025- £206,681). The Trustees
are able to transfer £70,738 to the Educational Account and £42,442 to the Non-EdUCa￿0ndl Account for the year. as
shown pa8e 8.
Investment Pollcy and Performance
The Charity is rollant on the inwme from Énvestments. The investment income is broadly received from stock exchange
investments and securities, bank interest and rental income.
The Trn*stees have apptiint&d qualified professional advtrsors as detsiled on page I to manage the investments. Brown &
Co manage the agricultural and commeTclal property in accordance wlth their tender for this work. Brewin DoSphln
Securitie5 Lttl manage the security investments on the terms of the Invostment Policy Staianent submitted to them by
Ihe Trustees in accordance wilh theTrustee Act 2000. ThoTrustees intend that the real value of thelr assets be maintained
and enhanced over the lon8 temi by investmenl comprlslng equsties, fixed income stock, agricultural and Commercial
property.
The current Stock market portfollo oblettive is for a balance between income and capital growth with a medSum rlsk
preference. The stockbrokers continued to attive￿ manage the portfolio and durln8 the course of the year the
investments showed a gain on revaluation and on investment asset disposals of £145,964, as shown on page 6. The net
gains on revaluation Ond on Investrrent asset dlsposals of £145,964 were £21,296 credlted to Unrestrirted Funds
and £124,668 credited to Endtswment Fund5.
There was a decrease in total investment income of E12,135 compared tothe previousyear.The investment income received
forthe year amounted to £234,073 compared with E246.208 In the previousyear. There was an increase in dlvldend Intome
of £1,919. Bank interest receSvÈd decreased by £4,009. Rental Income decreased by £10,045.
Rlsk Management
The Trustees have examined the rnajor strate8lc business and operational risks whSch the Charity faces and ¢onfirm that
systems have been established to enable re8ulof reports to be produced $0 that the neces5arysteps can be taken to lessen
these risks. The future remalns somewhat uncertain, and the charity's aims and objÈttlvÈs may be limited financially In
the shortterm. but the resources ol the Foundation are sufficiently diverse to enable the Finanoal Forecastfor 2026-2027
to be formulated on a prudent basis whilst still meeting the basic annual commitments.

Docusvjn Envelope ID." 2C22E991-C379-84A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION.
REPORT OF THE TRU5TEES- CDntlnued
YEAR ENDÉD 5 APRIL 2026
Reserves Policy
Endowment Funds
The sum of £6,476.49212025.. £6,36L8231 is held In Permanenl Endowment lor the prowls1on ot income for the Charlty.
Inve5trnentsrepreseJ)tingthe fund may be changed from time to time but cannot be dlstributed to beneflciaries.
Restricted Income Funds
The Non - Educational Account transfer from general atcount of £42,442 less £36,￿0 paid In the year, is payable at 5 April
2026 and is induded within creilitors (see note 111. As a resul¢ there is a nil balan￿ at 5 Aprll 2026. The amount payable is
dlstrlbuted Its entirety normally in Novemberfollowing the AprÉl year end.
Unrestricled Income Fund - Estate Malntenan
The Charity has an Estate maintenan￿ Fund for the purpose of providlngfor the ma￿￿tenan￿, repair and improvement of
its propertylex£luding the Songschool land and bulldlngsl. Some of the buildings the Charity owns are old and theTrustees
conslder it necessaryto provldo lor their repair and rnaintenance.
nrestricted Income Fund- Education Accotsnt
Tre Trusteps are aw3re that they nèed to improve and maintain the Song School which 15 a Grade11 Listed Building énd falls
within NewarkTown Centre Conservation Area. Latge amounts of money have been spent in the past on the Song School.
TheTrustoÈs expoctto provide contittuingsupporito the Song School.
Additionally, theTrustees wish to supportthe Magnus Church of Englandschool with special benefit5 not normally provided
by the relevant edutatlDn authorlty and In the past have devoted tonslderable resources to thi5 end. Project5 wfill requlre
TrustÈÉsapprovaland theTrustees may attach tofiditionswherethey deemthemappropriate.TheTrustees havesupported
the engagement ofthe Masterofthe Song School at St Mary Magdalene Church, Newark and made grantsto choristers for
thelr musical education when appropriate.
The Trustees wtsh to continue to hold sufficient lunds In hand to ensure that they Can ¢ofi￿nUe to meet their long-term
obligations in these respects.
Plans for the Future
TheTrustees have historically committed Considerable resourcesto supportthe Magnus Churth of England School and wlsh
to contlnue thSs tradltlon.
The Trustees contlnually ￿VIeW and finance the improvementof the Song School whlch is a Grade11 listed buildingand falls
wlthin NewarkTown Centre Conservation Area.
Structure, Governance and Management
The orlglnal endowment ol land and property was provided by Thomas Magnus, Archdeacon of thp East Riding in the
Metropolitan Church of York circa 1530 and has been the subleet of numerous charitable schemes over the years.
Thé Magfius Edueatioxal Foundation is presently constltuted by Charity Commission Scheme numbeT 528253 sealed on
26 June 1985 as varled by schemes dated 24 June 1996 and 15 April 1998. The scheme sealed on 26 June 1985 refers to
payments to the Charity called the Magnus Charity which i5 constituted by Charity Commission scheme number 222545
Sealed on 19 November 1973 which in turn cont3ins provisions rÈlatlng to payments by th3t Charity. The payments by
the Magnus Charity are included in the financial statements and notes and distinguished Separately as appropriatÈ.
The Magnus Educational FoundatSon does not actlvely fundralse and seeks to continue the philanthropic work through
careful stewardship of Its existing resources.
Appointment uf Trustees is governed by the Charfty Scheme as follows'.-
2 Ex Offlcio Tfustees (rh2 Mayor of Newark and the Rector of Newark)
4 Nominatwe TTUStees ITWO appointed by Newark Town Councll, one by the Distrirt Church Council and one bv
Nottln8hamshlre County Counclll
7 Co-optatlve Trustees (Persons who through residence, occupatton or employment or otherwise have speclal knowledge
of the town of Newark)

Docuslgn Envelope ID.. 2C22Eg91-C379-84A1-B3E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOLINDATION
REPORT OF TNE TRU5TEES- contlnued
YEAR ENDED 5 APRIL 1026
StTUCture, Governancè and Management- continued
Each Nomlnative Trustee appointed by the County Counal shall hold office for a term ending the day of the appointment
of hls or her successor. Ewery other Nomlnatlve Trustee shall hold office for a term of four years. Co￿ptative Trustees
shall be appointed for a term of five years.
Ordinary general meetings are usually held in June and November each year at whlch the Trustees a8ree the broad
strategy and areas of attivity for the Charity, includFng grant rnakln& Investment, ￿Serves, risk manègement policies and
performance.
The day to day administration of grants and the processing and handling of applications prior to considèration by the
Trustees is deleg8ted to the aerk to the Trustees.
TheTrustees keep the skill requiretments fortheTru5tee Body under review. In the event of a Co-optativeTrustee vacancy,
the Board Èndeavour5 to recruit a successor with appropriate special kt70wled8e.
The induction process for any newly appolnted Trustee includes an initlal meeting with the Board of Trustees. a history
of the T¥ust, coples of the latESt Twstees, Report and Financlal Statements attd Charity Commi55ion Scheme. Norrnally,
In 2very second year the Trustees as a body physlcally i¥bspect the land and property Investments of the Chartty.
The Charlty has appointed property 3gents and investrnent advlsors to assist in the management of the snvestments.
Key Management Personnel and remuneratlon
Th2Trustees considerthe Board of Trustees and the Clerk to the Trustcos as comprising the key management personnd of
the Charity in charge ot dlrectlng and controlling the Charity and runnlng and operating the Charily on d day to day basis.
All Trustees give of their time freely and no TrustÈe rernuneration was pald In the year. In ac(ordance with the Charity's
governing document the Truslee5 m3y pay the Clerk to the Trustees such 3 salary as may be approved by the Charity
Commissitsners. Details of Trustee expenses and related party tran5actlOll5 are disdos2d in note 13 to the arcounts.
Tru5tee5 are required to disclose all relevamt Sntérests and register them wlth the Clerk to the Trustees and in accordance
wlth the Charity's policy withdraw from decisions whÉr¥ a confl%ct of interest arises.
Trustee5' responsSbllltiès In relatlon to the flnatt¢lal statements
The lawapplicableto charities In England and Wales requirestheTrustees to preparefinancial statementsforeach flnanclal
year which 8tve a true and falr vlew ol the State of affalrs of thE Charlty 3nd of the ¢ncomin8 resour￿$ and appllcation of
resources of the Charity for that period. In preparln8 these financial statements, the TrusteE5 should follow best practice
and:
lal
Ibl
Select suitable accounting policles and apply th&m consls¢ently,'
Observe the methods and principles of the Charitles SORP 2L119 IFRS 1021;
Make judgemènts and estimates that a￿ reasonable and prudent,.
State whether applicable accounting standards have been followed, subject to any material departures disclosed
and explalned in the financial statements, and
Prepare the financial statementson a going concern basis unless it Is inappropriate to pre5urne that the tharity will
continue in operation.
Idl
le
The Trustees are responsSble for keeping proper accounting reconls that disclose with reasonable accuracy at any time the
flnancial positionof the Charityand enablethem to ensurethattheflnancièl statementstomplywith the CharitiesAct 2011.
the U)èrities (Accounts and Reports) Re8ulations 2008 and the provisionsof the Charlty Commi55ionScheme. They are a150
responsible for safeguardir¢g the assets ol the Charity and hence for takln8 rea50nable steps for the pwention and
detertion of fraud and other Ir￿Su1aritie5.
Approval
This report wa5 approved by the Trustees on
and signed on their behalf.
26-Aug-26101.'41 PDT
D¢tDSlgnEdb¥.'
TJWD2CG918tI.,............
Andrew Fearn- Trustee
THE MAGNUS EDLICATIONAL FOUNDATION

DocU￿9n Envelope ID.. 2C22&991-C37&84A1.83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIALACTIVITIES
VEAR ENDED 5 APRIL 2026
Un¥estrlcted
Funds
Page 8
Restricted
Funds
Pa8e 9
Endowment
Funds
Page 10
Total
Funds
2026
Total
Funds
2025
Inc
me and endowments
Investment In¢or¥te
234 073
234 073
Totsl Income and endowments
234 073
Z4
enditure
Costs of raising funds
Charitable actlvitles
86.793
9,999
96,792
91.315
206 681
Totsl expendlture
297 996
Other reco
nlsed alns
losse
Gainslllossesl on revaluatlon and on
investment asset dlsposals
Galns/llossesl on revaluation and oh
Investment property disposals
21,296
153,345
174,641
52,050
77
Total other recognlsed ga5nslllosses1
145
050
Net Incomellexpendlturel
23.589
142.4421
114,669
95￿16
262
Transfers between funds
Net movement In funds
114.669
95A16
262
ontlllatlon of funds
Total Funds broughtforward
425 293
636182
6 787 116
Total Funds carrle(t forward

Docuslgn Envdop& ID.. 2C22E991-C379-84A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
BALANCESHEET
AS AT 5 APRIL 2026
Unrestrlcted
Funds
Page 8
Restricted
Funds
Pagè 9
Endowmènt
Funds
Pagé 10
Total
Funds
2026
Total
Funds
2025
Note
FIXED ASSETS
Tanglble assets
Investments
S50,0(XJ
6 085 368
550.000
6 085 368
550.000
5 942 317
TOTAL FIXED ASSETS
6￿35,36$
6.635368
6A92,317
CURRENT ASSETS
Debtors and prepayments
Investments
Cash at bank, in translt and In hand 10
69.715
90,693
307 342
69.715
90,693
61,499
147,195
224 167
158 876
TOTAL CURRENT ASSETS
467.750
I9￿69
158,8761
328.543
432,861
LIABILITIES
Creditors..
Amounts falling due withln one yeaf 11
128 062
NET CURRENT ASSETSIILIABIUTIESI
406.4dlO
1158,8761
247.564
294,799
TOTAL NET ASSETS
THE FUNDS OF THE CHARITY
Endowment fvnds
Restricted income funds
Unrestricted income funds
12
12
12
6,476,492
6,476,492
6,361,823
406 440
425 293
TOTAL CHARttY FUNDS
Approved bythe Board of Trustee5 on
and signed on its behalf
2S-ALkg-26101..41 PDT
Andrew Fearn- Trustee

DOCU￿￿) Envelop8 ID.. 2C22E991-C379-84AI-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
UNRESTRICTED FUNDS
FOR THE YEAR ENDED S APRIL 2026
General
Account
Estate
Eduotion
MaSntenance Account
TOTAL
2026
TOTAL
2025
Note
Income and endowments
Donations
Investment Income
Dividends
Interest
Rents
Total income
52,401
4.722
176 950
234
73
52,401
4,722
176 950
50,482
8.731
186 995
endlture
Cost ol ralsln8 funds..
Insurance
Commissitsn lettln8s and expenses
Malntenance and estate inspecti¢
Bank charges and sundry expenses
Draina£e rates and council tsx
Light and heat
Legal tees
8,624
16,522
26,531
8.624
16.522
26,531
289
17,027
10,304
7,351
14,760
29,822
289
17,768
4,184
17,027
10.304
Charltable 8CtivittÈ$
Song school expenses
Benefits
Musical education
Salary and dlsbursements
Clerk to the Trustees
Accountancy and compliance
Independent examination
12,987
48,995
48,905
12,987
48.995
48.￿5
30,854
49,2(Kl
44,050
18,000
14,100
18.000
14,100
18.000
13.440
87
Total expendlture
120
110 887
239 039
Other reco
nised Ins
losses
Re21ised gainslllossesl on investment disposals
Revaluatlon recognlsed In prevlous years
realised in current year
Revaluatlon galns/llossesl for the year
Total other recognised gainslllossesl
182
19.060
19,242
815
11341
110,5841
63
IlQ,7181
2,568
Net Incomel(expendltyrel
113.180
5A57
195.0481
23.589
14.133
Transfer to Education Account
170.7381
70,738
Transfer to Restrlctod Funds
Net movement In fuNIs
5N57
124,3101
118.8531
I35￿94)
econcillatlon of funds:
Funds brought forward
420 528
425 293
Funds carrled forward

Docuslgn Envelope ID.. 2C22Eg91-C379-84A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIOI4AL FOUNDATION
RESTRICTED FUNDS
FOR THE YEAR ENDED 5 APRIL 2026
Non-Educatlon
A¢¢ount
Scholarshlp Fund
TOTAL
2026
TOTAL
2025
Note
Income and endowmenis
Transfer from general account
Total Income
endit
re
Charitable Activities
Grants payable
Total èxpènditure
Net movèmènts In funds
Reconcillation of funds..
Funds brought forward
Funds tarried forward

Docuslgn Envelope ID.. 2C22E991-C379-84AI-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
ENDOWMENT FUNDS
FOR THE YEAR ENDED S APRIL 2026
Investment
properties
TevaSuattun5
TOTAL
2026
TOTAL
2015
Note
Permanent
Income and endowments
Interest received
Total income
EM
endlture
Costs of ralsln8 funds:
Investment management cost5
9,999
9,999
9,730
Total expendlture
Other reco
nised
ains
losses
Realised %ain5 on listed investment
di5posa15
Revaluatson ￿cOgnised in prevlous years
reallsed in current year
Revalu2Uon gain5111055esl on listed
Investments for current year
Revaluatlon gainslllossesl on investment
properties for current year
Totsl other recognlsed galnslllossesl
69.611
69,611
12,051
144,0001
144.0001
16.0951
127,734
127,734
39,130
153
45
Nèt income/lexpendlturel
143,346
128,6771
114.669
35356
Transfer to Unrestrlcted Funds
Net movement In lunds
143,346
128,6771
114,669
35356
Reconclllatlon of funds:
Funds brought fotward
3 309 659
3 OS2 164
6 361 823
6 326 467
Funds carrled fonvard
io

D(￿Usign Envelope ID." 2C22E991.C37&84A1.83E7_7DCEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE Accoumrs
FOR THE Y&4R ENDED 5 APRIL 2026
PRINCIPALACCOUNTING POLICIES
1.1 Basls of Preparatlon
Thelinancial statements are prepared on a goingconcem b35￿ underthe historical c05t convention as modllied by the
incluslon of tan8ible fixed assets and investments at market value and Include the results of the Charity's operatlorts
whlch are déstribed in the Tru5tÈes' Report and all of whl¢h are contlnulng. In prepar¢ng thetinancial statement5 the
Char(ty follows best prattice as laid down In Accountlttg and Reporting by Charities.. Statement of Recommended
Practice applicable to charities prepartng their accounts In accordance with the Financlal Reporting Starkd3rd appticable in
the UKand Republicof Irdand issued in O¢tober2019. theFinancrdl Reportingstandard applicableitFthe United Klngdom 2nd
Republicof Ireland IFRS 1021, the CharitiesAct2011 and UKGenernlW Accepted AccountirEpractice.
The fTnanaal sratements have been prepared to £we a'true and lairf vlew and have departed from the Charitses IA£counts
and Reportsl Regulatic￿5 2(K)8 only to the extent required to pmmde ? 'true and fairf view. This departure has invdved
foSlowing the Accounting and Reporflng by Charities.. Statement of Recommended PraLtice applicable to diarities preparlng
their accounts in accLYdance wf(h the Financial Reporti￿ Standard in the UK and Rewblic of Ireland Issued in October 2019
rdtherthan theAccounti$18ènd ReportingbyCharities.'stat￿lefttof Recommended Practi￿effectivefrorn IAwil 2￿5WhiCh
has since been wtthdr3wn.
The Charily constitutes a public benefit entity as dèfined by FRS 102.
12 Fund5Structure
un￿strIcted lunds are avallable for use at the dlscretlon of the Trustees in furtherance of the general obj￿tiveS of
the charity and which have not been designated for other purptsses.
Designated funds comprise unrestricted funds that have been set aside by the Trustee5 for particular purposes. The
alm and use of each deslgnated fund Is set out In the notes to the financlal statements.
Restricted funds are funds whith are to be used in accordance with specific restrictions imposed by donor5 or which
have been raised by the Charlty for particular purposes.The cost of raising and admlnlsterlnEsu¢h funds are charged
ag8inst the speclflc lund. The alm and use of each restrlcted fund Is set out In the notes to the tTnanclal statements.
Endowtnent funds represent those assets which must be held permarsently by the Charity. Incgme arising on the
erhdowmentfunds can be used in accordance with the obsects ol the charity and is included as unrestricted Income.
Any capital gains or losses arislng on tho investments form part of tho fund. Investmont management charge5 and
1É8al advice rÈlatlng to the fund are ¢harge5 against the fund.
1.3 Income recognltlon
All IncomÈ Is included in the Statement of Financial Activitie5 when the Charitv 15 legally entitled to the income after
any performance conditlons have been tneL the amount can be rnea5ured reliably* and it 15 probable thatthe Income
will be received.
Investment Income Is earned through holdÈngassetsfor inveslment purposes such as shares and property. It iticludes
dividend5. I￿teres¢ and Tent. Interest income, dividend and rent income is recognised as the Charity's right to receive
payment is established.
IA Eypendlturerecognltlon
All expenditure is aecotsnted for on an accruals basis. Expend¢ture is recognised where there is a legal or constructive
obli6ation to make payments to third parties, It 15 probable that the settlement wlll be requlred, and the amount of
the obligation caTI be measured rellably. It is categorised underthe following headings:
Investment managementcosts include portfolio management. rent collection, Investment propertycost5.
Expenditure on charitable activltles Includes grants made and governance costs whlch Includes all costs Involvlng
the publlc accourttability of the Charlty and Its compllanee wlth constitution31 and statEttory re8ulations and 8ood
practi￿.
Grant5 payable to third parties are withln the charitable objÈttives. Where unconditional grants aye offered, this
Ss acuued as soon as the reclplent is notified of the grant. 3S this gives rlse to 8 reasonable empectstlon Ihat the
recipient will recetv& the 8rants. Where grants are conditional relating to perforrnance then the grant is only
accrued when any conditions are fulfilled.
li

Dc(usign En¥eknpe10.' 2c22E991-c37￿4AI￿sE7-7￿EC4Cs6A56
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS - contlnued
FOR THE YEAR ENDED 5 APRIL 2026
1.5 Value Added Tax
The Charity is registered for VAT and treated as partlally Èxempt. Income is shown net after dèduction of output
VAT and expenditure Is shown net of VAT in the instances where it is appropriate to reclalm Input VAT.
1.6 Tanglble Fixed assets for use by the Charlty
Tan6ible Fixed assets are stated at cost lor deemed cost on transltlon to FRS 1021. Freehold propertie5 are
maintained In 3 stste of rep3irsuch that theirestimated resldual value is not lessthan theircarrylngvalue as a result
of which the annual charge for depreciation is nil. The Freehold properties are reviewed by the Trustees at the end
of each reporting period lor any indlotion of Impairment. If such indication extsts. the retoverable amount is
estimated and compared to the carrying arnount. Where the carrylng amount excÈeds the recovelable amount. an
impairment loss is recognised in expenditure through the Statement of Flnanclal Activities.
1.7 Hèrltage assets
Heritage assets are recognised on the balance Sheet and Initially measured at cost when purchasÈd or if donatèd,
theirvaluation. Assets aro SUbseq￿entlY stated at Ctsst lor deemeil tost on transition to FRS 1021 and forthe Teasons
stated on 1.6 above the annual tharge for depreclatlon Is nll. Fair Values for donated 35sets 3re estimated by
refercnce to market prices.
Where informatlon on the cost lor deemod cost on transition to FRS 1021 of heritage assets Is not èvailable or the
cost of providin8 such Information sienificandy outweighs any benefit to the users of the accounts then heritage
assets 3re not recognlsed on the balance sheet.
1.8 Investment propertle$
Investment properties are valued at open market value by the trustees with changes Sn value recognlsed in 'net
gainslllossesl gn investments, in the siatement of Financlal Activities.
1.9 Inve5tment5
Investments in securities are reco8nised initially at fair value which 15 normally the transaction price excludin8
transaction costs. Subscquenlly, they are measured at lair value with changes recognised in'net gains/llossesl on
Investments, in the Statement of Flnanaal A￿VitieS if the shares are publldy traded or thèir fair value can
otherwlse be Me￿ured rellably.
Current assets investments are short term highly Ilquid Investments and are held at fair value.
1.10 Debtors and creditors re￿IV&ble1paYab1e within one year
Debtors and creditors Teceivable or payable within one year are recorded at transaction price.
1,11 Tam
The Charlty Is an exempt CharSty wlthln the meanlng of schedule 3 01 the Charities Act 2011.
1.12 Goln8 Concern
The financlal statements have been prepared on a going concern basis as the trustees believe that no material
uncèrtainties exist. The Trustee5 have con51dered the level of funds held and the expected level of income and
expendlture lor 12 rnonths from authorising these flnanclal Statements. The budgeted income and expendlture is
sufficlent wlth the level of funds for the Charity to be able to eontSnue as a £oing concern.
1.13 External Scrntlnv
Under the Charitles Act Regulations relating to the audlt threshold no audlt is r@qulred for the year to S April 2026
but the linanclal statements for that year requ1￿ an Independent Examlnation.
12

DO(￿$10￿ EnveJope10: 2C22E991-C37u4A143E7-7(￿Ec4cS6A5fj
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCQUNTS - continued
FOR THE YEAR ENDED 5 APRIL 2026
1.14 Financial tnstruments
The charity has chosen to adopt Sertions 11 and 12 of FRS 102 In respect ol financlal Instruments.
Basic financial assets. including trade and other debtors and cash and bank balances are initially recognised at
transactlon price, unless the arrangement constltutes a fin8ncing transactlon, where the transaction is measured
at the present value of the future receipts dlscounted at a market rate of interest.
At the end of each reporting period financial assets measured at amortised Cost are assessed for objective
evidence of impairment. If an asset is irnpaired the impairment loss is the dillerence bÈtweeri the carrying amount
at7d the present value of the estimated tash flows discounled at the asset's original effective Interest rate. The
impalrment loss Is recognised in proflt or lo55.
Other financial assets, includln8 investments in equf(y Instiurnents which are not subsldiaries. associates, or joint
ventures, are initially measured at fair value, which is normally the transattion price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income
ststement, except that investments in equity instruments that are not publicly traded and whose fair val(tes cannot
be measured reliably arc measured at Cost less imp21rment.
Financial assets are derecognised when lal the contracttsa5 rights to the cash flows from the asset expSre or ale
settled. or Ibl substantially all the risks and rewards of the Dwnership of the asset are transferred to another pafty
or It) control of the asset has been transferred to another party who has the practlcal abllily to unllaterally sell
the asset to an unrelated third party wlthout lrnposing addltlonal restrictions.
Basic financial liabilities, including trade and other creditors, bank loans, loans from follow group companies and
preference sharE5 that are classlfled ès debt, are initially recognised at transaction price. unless the arrangement
constitutes a financing transaction, whère the debt instrument is measured at the present value of the future
recelpts discounted at a market rate of Sntere5t.
DÈbt instruments are subsequently carried at amortised cost, Using the effectlve Interest rate rnethod. Trade
creditors are obligations to pay for goods or sorvices that have been atquired In the ordlnary course rjf buslness
from suppller5. Accounts payable are classified as turrent Ilablllt1È5 if payment is due within one year or less. If
noL they are presented as non-current liabilities. Trade ￿edItorS are recognised initially at transaction price and
subsequently measured at amortised cost uslng the effective interest rnethod.
SONG SCHOOL EXPENSES
2026
2025
Water rates
Council tax
Improvements and repair5
Vehicle right of access
Electricity
I,iii
3,624
24,252
IOD
3,793
7.570
13

Docusbw Enveknpe ID.. 2C22E991-C379-84AI.83E7-7DCEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS - contlnued
FOR THE YEAR ENDED S APRIL 2026
BENEFITS
2026
2025
Ma8nus Church of England School.. General Grant
Grants to pupils= 18 x £25012025- 11 x £2501
Muslc Tuitlon Grant
Newark Team PCC- Choral schola￿h1ps
European tour
8,400
4,500
30.￿0
3,095
8,4(X)
2,750
30,O¢J)
8,050
MUSICAL AND SPORT EDUCATION
2026
2025
Song School Master Grant
Rowln8 Grant
36,905
33,550
RESTRicfED FUNDS-GRANYS PAYABLE
2026
2025
Non.Educatlon Atcounts
St Mary Magdalene Church
Choristers and Low Boys12191
Parish aerk, Sexton and Vergers12191
Repairs to Parlsh Church12191
9,432
9,432
10.939
10,939
28,295
32*17
Newark Hospltal
Newark Hospital13191
TANGIJLE FIXED ASSETS
Freehold
Land and
Buildings
Total
Dèemed cost
At 6 April 2025
Additions
At 5 April 2026
550,000
55D,OOD
Net book valve
At S April 2026
At 5 April 2025
550 000
550 000
550 000
The Charlty owns freehold land and buildings occupled by the Mtgftus Church of England School and freehold land
and bulldlngs known as The Song School. Both ol these properties are considered to be heritsge assets. The Trustees
elected to use a valuatlon of Freehold Land and Buildings at 5 April 2016 as fairvalue on transition to FRS 102 end used
that fairvalueasdeemed cost. Adeemed cost of£SS0,OOOha5 been placed onThe Song School representlngthe market
value 3t 5 April 2016, It is not tntended that thi5 asset wlll be subject to revaluation. No deemed cost has been plèted
on Magnu5 Church of England Sdiool as the cost of provldlng sud) information s(gnilicantly outweighs any benefit to
users of the accounts and therefore this heritage asset has not been reco8nlsed on the balance sheet.
14

Docusign Envdope ID." 2C22E991-C379-84A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS . contlnued
FOR THE YEAR ENDED 5 APRIL 2026
FIXED ASSET INVESTMENTS
Permanent Endowment
Llsted
InvèstmÈnts
Note 15
Investment
propertles
Cash
Total
At 6 April 2025
1,512.117
25,200
4,405,000 5,942,317
Additlons
249,162
28.677
277,839
Disposal
1217,8611
1217,8611
Revaluations
127,734
128,677
99,057
Cash Movement
At 5 ApAI 2026
36
Listed investments represent investsments managed by 8￿WIn Dolphln and are shown at S April 2026 marketvalue.
The Investment propertie5 were valued on an open marketvalue basis by theTrugtees on 5 April 2026.TheTru5tee5
ttsnsider these valuations to be reasonable and in Ilne with the m05t ￿￿ent independentvaluation dated IOAugust
2023 by 3 professional va5uer who has re￿￿t expèrlÈn¢e in the location and cla55 of property being valued. The
Trustees do not consider it nece%saryto [￿tain a formal external valuation asvaluations are considered reasonable
and are supported by alternative sources of information.
The historic cost of the listed investments on S April 2026 was £1.412.02212025 £1,336,722).
The historic cost of the tnvestmenr propertles on 5 Apri12026 was £L38L51912025 - £1.352.8261.
CURRENT ASSET INVESTMENTS
Educatlon
Actount-
Accumulatlon
of Income
Note 17
Estate
Malntenance
Note 16
Total
At 6 April 2025
9,654
137.541
147,195
Addltions
40.0
40,000
Disposals
12521
1109,0221
1109.2741
Revaluatlons
36
At 5 Aprll 2026
The hlstorlc ¢ost of the Estate maintenan￿ investments on 5 Ap¥il 2026 was £10,11512025- £10,233).
The histortc cost of the Educatlort Account investments on 5 April 2026 £46,77812025- £105,2161.
15

Envelope ID.. 2C22E991-C378-84A1-83E7-70CEC4C56A66
THE MAGNLJS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS - continued
FOR THE YEAR ENDED 5 APRIL 2026
DEBTORSAND PREPAYMENTS:
AMOUVfS FALLING DUE W5THIN ONE YEAR
2026
2025
Value added tax
Rents held by agents In arrears
Prepayments
Trentside bond
748
44,858
10,518
375
57,348
6.992
10. CASM AY BANK AND IN HAND
2026
2025
Bank deposlt account
8ank current account
COIF Cha￿tieS deposit fund account
Income account
253
78,614
79,475
10,247
27,766
179.475
16
224 167
11. CREDITORS. ACCRUALS AND DEFERRED INCOME-.
AMOUNTS FALUNG DUE WITHIN ONE YEAR
2026
2025
Accruals for
rants
able
Non-Educational Account grants
Educatlonal gr(Ints
19,669
13,227
other creditors
VAT
Professlonal lee5
Rates
Repairs
Rent deposits clue to tenants
2,198
17.282
4,904
774
161
Accrued ex
enses
Investment management fees
Electrl¢ity
Accountancy and complianTr etc.
Independellt examination
Bank charges
2,587
700
6,700
2,000
21
2,425
700
5,090
1.910
25
Deferred income
Rents in advance
979
16

D￿￿s[g￿ Enve]Dpe ID.. 2C22Eo91-C37￿84A1-83E7-7oCEC4C58As6
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES YO THE ACCOUMtS- contlnued
FOR THE YEAR ENDED 5 APRIL 2026
12. ANALYSIS OF CHARITABLE FUNDS
Fund
alance
Bwought
Fon¥srd
Revaluati￿ Vlevaluatlon
Fund
gaimslllossesl recognised
Balance
Reallsed for curreAt In prevlous
Cayrled
Incomp Expenditure 8ainll10551 year end
vear5
Transfers Forward
Fund Trame
Endowment Funds
Permanent
Investment propertles
Revaluation
3,309.659
19,9991
69.611
127,734
144,(M)01
3,453,005
3 052 164
3 OZ3 487
Re5trlrted Income Funds
Non-Educatlon account
142,4421
42.442
42
42
Uttrestrl¢ted In¢ome Fund5
General Account
Deslgnated-Estate
MalntenarKÈ Ftsnd
Desl8natÈd- Education
Attount
234.073 1120.8931
1113.1801
4.765
182
5.409
11341
10,222
420 528
li
70
396 218
406
6 787 116 234 07
21
6 882 932
Endowment Funds
The purpose of the Endowment Funds Is to generate inctsmè for the Charity. Inve5trnents representln8 the fund may
be changed from tlme to time but cannot be distributed to beneflclaries.
Restrlcted Income Funds
NDn-Educational Account the transfer from general account is distrlbuted In its entirety normally in November
following the April year end. This year an advance 01 £36,000 was pard leaving £6.442 to be distributed In November
2026 and is included wlthln ¢￿dItOrs(see note 111.
Unrestricted Income Fund5
General Account- the'Free funds, after allowin8 for all des16nated funds.
Designated Estate Malntenance Fund - the Charity has an Estste maintenan￿ Fvnd for the purpose of providing
the maintenance, repalr, and improvement of Its property lexduding the Song School land and buildingsl.
Designated Educatlon Account- the purpose ol the Education Account Is to improve and maintsin the Song School,
support the Magnus Church Schctol with spectal beneflt5 not normally provided by the relevant education 3Uthorlty
and support other specific edu¢8tlon31 projects.
Transfers tsut of the General Account comprise the following amounts..
TransfErto Non-Education Acwunt
Transferto Educatlon Account
42,442
113 180
17

Docusign Envdope ID." 2C22EQ91-C379-64A1-83E7-70CEC4C56A56
THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS- contlnued
FOR THE YEAR ENDED 5 APRIL 2026
12.
ANALYSIS OF CHARITABi£ FUNDS- contÈnued
As stated in the object of the Charity. net income on the General Account i¢7 the proportion three eighths is
dlstributed to varlous charltles. Accordlngly, as shown on page 8 thls represents three elghths of £113.180 8lvlng
rise to £42,442 which is to be transferred to the RestrScted Income Fund - Non-Educatton AccO￿nt for subsequent
payment. The remalnlnE balance Is transferred to the Dessgnated Educatlon Account wlthln ￿n￿strIcted funds.
RELATED PARTY TRANSACTION5
R L Waikinson is a Trustee and a partner In Rithard Watkinson & Partners, Syrveyor5, Valuers. Auctloneers and
Estate Agents. This firm rent two Car parkinE spaces from the Charity at a current commercial annual rent of £990
12025- £9761 excluding Value Added Tax. The rent was reviewed by Brown & Co, the property agents acting for the
Charity In 2006107.
The Charitvs governing document states that the Trusteès may pay a Clerk tty the TrnsteÈs a salary as may be
approved by the Charity Commission. The Clerk to the Trustees, A Allisors is a partner of Knights Sollc6tor5. Durln£
the year, Kn*ghts Solicitor5 cha¥6ed the Charity an amount of £18,00012025- £18,000) for the Clerk'5 se¥vices. At 5
Aprll 2026 ENII12025 £16,2171 was due to Knlghts SolScltors.
14. ACKNOWLEDGEMENT TO THE JOSEPH GILSTRAP SCHOLARSHIP
In 1998199 theTrustees of theloseph Gilstrap Scholarship Trwt resolved under theCharitSes Act 1993 S.74 totransfer
the property of that trusttoThe Magnus Educational Foundation and the donalions from that Charity were recorded
In the accounts of The Ma8nus Educatlonal Foundatlon In the year to 5.4.99.

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ij I

Docu4gn Envelope ID.. 2C22Eg91.C379-B4A14JE7.70CEC4C56A56
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES ON THE ACCOUNTS OF
THE MAGNUS EDUCATIONAL FOUNDATION IREGISTERED CHARITV NO. 5282531
FOR THE YEAR £NDED 5 APRIL 2026
Independent Examiner's Report to the Trustees of The Ma8nus Educatlonal Foundatlon
I report to ihe charity trusiees on my examination of the accounts of the charity lor the year ended 5 Aprll 2026 which are
set out on pages 6 to 21.
Responsibilitiès and 8as15 of Report
As the ChariWsTrustees you are ￿spOnSible forthe preparatlon of the accounts In accordan￿ with the requlrements of the
Charities Act 20111'the ACVI.
I report in respect of my examination of the Char¢tWs accounts carried oltt under section 145 of the Act and in carrylng tsut
my examlnatlon I have followed all the applicable Dire¢tion$ glven by the Char5ty Commlssion under sectlon 14515llbl of the
Act.
Independent Examlnerfs Statement
I have coMple￿d my examination. I confirm that fio Material matters have come to my attention In Connectlon with the
examlnation givlng me cause to believe that in ahy materlal respect..
accounting ¥ecords were not kept In respect olthe Charity as requlred by sectlon 130 of the Act,. or
the account5 do not aword with those records,. or
the accounts do not comply with the applicable requirements cOn￿rnIng the form and content of accounts set out
in the Charities (Accounts and Reports) Regulations 2008 otherthan any requirement that the accounts glve a'true
nd faÈr vip.W which 15 not a matter considered as part of an independent examinat¢on.
I have Tho conceins and have come across no other matters in connection with the examination to which attention should be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adrian Haigh FCA
Stephenson Nuttall & Co
Chartered Accountants
618 Castle Gate
Newark
Nottlnghamshire
NG24 IAX
Date=
22