ST WILFRID'S TRUST
ACCOUNTS
YEAR ENDED 31 AUGUST 2023
R8g•stered Charlty Number 246989

ST WILFRID'S TRUST
YEAR ENDED 31 AUGUST 2023
CONTENTS
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Noles forming part of the Financial Statements

ST WILFRID'S TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 31 AUGUST 2023
Charity Number
246989
Bankers
Santander, 301 St Vincent Street. Glasgow
Independent Examiner
Bush & Co Limited. 2 Barnfield Crescent, Exeter
Investment Advl¥or$
CCLA Investment Management. 80 Choapside. London
Valuers And Estato Ag•nl$
Whitton & Laing. 20 Queen Street. Exeter
Alder King. Endeavour House, Pynes Hill. Exeter
Clerk & Prlnclpal Addre$$ Of Tru•t
Mrs F Evans, 39 Sylvan Road. Exeter, EX4 6EY
The Trustees have pleasure in presenting their report and the financial statement$ for the y88r
ended 31 August 2023. This report is prepared in accordance with the Trust Deed and the
recommendations of ihe Statement of Recommended Praclice - Accounting and Reporting by
Charities and complies with applicable law.
The Trustees who acted during the year were:
Ex-offlelo Trustees
Bishop of Credilon
Dioeesan Director of Education in the Diocese of Exeier
Co-opted Trusloe$
Rev Preb D James
Mrs M Gilpin
Ms L Glanvillo
H Vollers
R Walford
E White
Rev Preb N Guthrie
(Chairman)
(Appointed 23 May 20231
IResigned 6 December 20221
(Resigned 14 August 20231
The chairman would like to acknowledge and thank the Trustees for their assistance in the work
of the Trust during the last twelve months.
The Trustees have received and acted upon professional advice in the examination, review and
updating of their invested funds.

ST WILFRID'S TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 31 AUGUST 2023
OBJECTS OF THE CHARITY
The charity exist$ wilh the purposes of:
Furthering the education, according to the doctrines of the Church of England, of children
and young persons by the provision of a school or otherwise.
21
Promoting religious and other ¢haritable work of the Church of England, whether in
England or elsewhgre.
ORGANISATIONAL STRUCTURE
The original Governing Document and Oeelaration of Trust wa$ daied 30 March 1875 and was
varied by the scheme of 19 May 1992.
co.opted Trustee$ are appointed as required by a resolution of the Trustees passed at a special
meeiing. Appoinlments 8re for a term of five years whereupon the Trustee may be reappointed.
A Truslee may indicate their decision to retire at any time.
Th8 Trustees meet to review thè Trust activities and financial position. Oecisions are m8de with
the agreemeni and approval of each of ihe Trustees. Currently there are seven Trustees belng
comprised of two Ex-officio trusle8s and five Co-opted trustees. The minimum requirement for
the co-opted trustees 1$ four and the maximum number is ten. A minimum of three trustees are
required to form a quorum for each meeting.
REVIEW OF ACTIVITIÉS
In setting out our objectives and p18nning our activities we have ¢ongidered the Charily
Commission general guidance on public benefit, and in particular the supplementary guidance
on the advaneement of education for the public benefit. Thus, we have paid du8 regard to
section 17151 of the Chariiies Act 2011 concerning public benefit.
The Trust conlinues to support both Exeter Cathedr81 School and St Wilfrid's School with awards
for pupil bursaries. It is the school's decision as to which pupil receives a bursary each term.
The total ineome in thg year was £122.189 12022-. £52,107) and total expenditure was £62,773
12022.. £53,659). There was a net surplus of £38.468 12022.. Deficii £59.7301 after unrealised loss
on investments of £20.94812022.. loss £58.1781. The income increase was due to the higher rent
receivable of £51,000 as against £11.500 before. The higher expenditure was dug to cost
associated with the lease re-negotlaiion.
Rent and investment income generated by the Charity's freehold property and investments has
been used to support the main activity of the Charity in providing bursaries to students at St
Wilfrid's and Exeter Cathedral Schools. Grants have been on hold for this accounting year.
RESERVES POLICY
The Trustees have a reserves policy whereby the income from Trust assets supports the Trusl
activities. Trust assets invested in non tangible assets account for the majority of the total assets
ol the Trust arnd it is therefore considered that, should there be a fall in income. the capital f rom
these assets could be used to support the Trust activilies. At the yearend there were total
reserves of £1.553,793. of which £288.81)O was held as a property in mixed motive investment. This
leaves £1.264.993 of free reserves at the year end.

ST WILFRID'S TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 31 AUGUST2023
INVESTMENT POUCY
The Trust's fixed assets Currently amount to £1.513.931. Approximately 80.9 % of this sum is
invested in a managed investment fund on a balanced investment objective and medium risk
basis.
RISK POUCY
The Trustees have considered the potential risks to the Trust and have ensured that there are
procedures in place to mitigate the risks. and they will conlinue to review these procedure5 as
required.
STATEMENT OF TRUSTEES, RESPONSIBIUTIES
Charity law requi res the Trustees to prepare financial staiemenls for each financial year which
give a true and fair view of the slate of affairs of the charity and of its financi818ctivities for thal
period together with its assets and liabilities ai the end of Ihe period. and adequately distirnguish
any material special trust or other restricted fund of the charity. In pr8paring those financial
statements, the Trustees are required io:
Select suitable accounting pollcies and then apply them conslstently.
bl
Make judgements and estimates that are reason8ble and prudent.
Stale whether the policies adopted are in accordance with the appropriate SORP on
Aecounling by Charities and the A¢eounting Regulations and wilh applicable ac¢ounting
standards, subject to any materi81 departures disclosed and explained in the financial
statements.
dl
Prepare the financial statements on the going eoncern basis unless it is inappropriate to
presume that the charity will conlinue its activities.
The Trustees are responsible for keeping proper accounting records which dlsclose wlth
reasonable accuracy at any time, the financial position of the charity and enable them to ensure
that the financial staiements comply with applicable Accounting Standards and Statement of
Recommended Practice and the regulations of the Charities A¢t 2011. They are also responsible
for safeguarding ihe assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees..
Chairman of the Trustees
Date:
25. o¥. 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF
ST WILFRID'S TRUST
YEAR ENDED 31 AUGUST 2023
I report on the accounts of the Charity for the year ended 31 August 2023. which are set out on
pages 5t0 9.
Respectlve Responsibilities of Trustees and Exambner
As the Charily's truslees you are responsible for the preparation of the accounts. You consider
that an audit is not required for this year under Section 144121 of the Charities Acl 2011 lihe 2011
Act) and that an independent examination is needed.
It is my responsibility 10:
examine the accounts under section 145 of the 201 l Act:
Ibl to follow the procedures laid down in the General Directions given by the Charity
Commissioners under section 14515llbl of the 201 l Act; and
Icl
to state whether particular matters have come io my attention.
Ba$ls of Independont Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity
Commissioners. An examination includes a review of the accounting records kept by the charity
and a comparison of the accounts presented with those records. It also includes consideration of
any unusual iiems or disclosures in the accounts. and ihe seeking of explanations from you as
trustees concerning any such matters. The procedures undertaken do not provide all Ihe evidence
thal would be required in an audil and consequently no opinion is given as to whether the
accounts present a 'true and fair view. and the report is limited to those matters sel out in the
statements below.
Independent Examln•rf$ Statément
In connection with my examination. no matter has come to my attention:
11 which gives mè reasonable Cause to believe that, in any material respect, the requirements..
to keep accounting record$ in accordance with 130 of the 2011 Act.. and
lo prep8re accounts which accord with the accounting records 8nd to comply with the
accounting requirements of ihe 2011 Act
have not been met; or
21 to which, in my opinion, attention should be drawn in order to enable a proper understanding
of the accounts to be reached.
Mrs S Truran FCCA FCA
Bush & Co Limited
Chartered Accountants
2 Barnfield Crescent
Exeter
EXI 1aT
Date: l 0l4-

ST WILFRID'S TRUST
STATEMENT OF FINANCIAL ACTivmES
YEAR ENDED 31 AUGUST 2023
2023
2022
Total Fund$
Total Funds
IAII Unrestricted) IAII Unrestricted)
Nirtes
INCOME AND ENDOWMENTS FROM:
Dividend incorne
Bank interest
Rent and insurance: St Wilfrid's School
Donations
34.141
33.402
13
18.192
500
87,894
TOTAL INCOME
122,189
52.107
EXPENDITURE
Charitable Acti¥iti0g
Bursaries for pupils at Exeter Cathedral School and
St Wilfrid's School IExeterl Ltd
Other Grants
24,000
17,3481
24000
3,897
Legal and profèssional
Depreciation.. Property
Insurance of Si Willrid's School
Trustees, insurance
26.574
3,800
8,117
559
8,123
3,800
7,192
559
Management and administration of the Charity
7.131
6,088
TOTAL EXPENDITURE
62,773
53.659
ILossllGains investments
120.9481
158,1781
NET MOVEMENT IN FUNDS
38,468
159.7301
Fund balances broughi forward
1.515,325
1.575.055
Fund balance$ earrfed forward
1,553.793
1.515,325

ST WILFRID'S TRUST
BALANCE SHEET
YEAR ENDED 31 AUGUST 2023
Note
2022
FIXED ASSETS
Mixed motive investment
Investments
288,8(Kl
1,225,131
292,600
1,196.079
1,513.931
1,488,679
CURRENT ASSETS
Other debtors
Sanlander bank account
771
40,537
48,594
48,594
41,308
UABILITIES.. AMOUNTS
FALLING DUE wrrHIN ONE YEAR
Accruals
Grant commitments
Rent received in advance
3.267
1.653
3.812
4.589
9.251
822
8,732
14,662
NET CURRENT ASSETS
39,862
26.646
NET ASSETS
1,553,793
1,615,325
REPRESENTED BY:
UNRESTRICTED FUNDS
General Purpose Fund
1,553.793
1.515,325
Approved by the Board of Trustees on
and signed on its behalf by
Chairman
Date:

ST WILFRID'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
ACCOUNTING POUCIES
General
These accounts have been prepared under the historical cost convention las
modified by ihe revalualion of certain fixed assets) and in accordance with ihe
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011,
The trust constitutes a public benefit enlity as defined by FRS 102.
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Investments
Investments are slated at market valuo.
Flxed Assets
Tangible fixed assets are r8¢orded at historical cost and depreci8ted.
Depreciation is provided on the property on a straight-line basls over 100 ye8r5
being based on the estimated useful life of the asset and ils anticipated residual
value.
dl
Income Rewur
Incoming resources are included in the accounts when they are receivable. Rent
received in advance Is included in deferred income.
Re$our¢es Expend•d
Expenditure is included on an accruals basls. Costs are allocated directly to the
category to which they rèlate or apportioned on a reasonable, justifiable and
consistent b8SiS.
Value Added Tax
The Trust is not registgrod for Value Added Tax IVATI. Expenditure in these
financi81 statements therefore include8 VAT paid where appropriatè.
BURSARIES
The following bursaries were payable during the year for pupils attending..
2023
2022
Exeter Caihedral School
St Wilfrid's School IExeterl Limited
12,000
12.000
12,000
12,000
24.000
24,000
Each school received three approximately equal termly instalments of the above total
amounts.

ST WILFRID'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
OTHER GRANTS AND AWARDS
During the year no grants were made to other schools to assist them in promoting
Christian education12002 . 41.
2023
2022
Grants to schools
OJM Gibbons
Organ project
Grant Commitments broughi forward written off
2,897
250
1.000
17,5981
17.3481
3,897
MANAGEMENT AND ADMINISTRATION OF THE CHARITY
2023
2022
Independent Examiner's remuner81ion
Clerk's Salary and associated costs
1,636
5,495
1.488
4,600
7.131
6,088
TRUSTEES REMUNERATION AND RELATED PARTIES
No remuneration directly or indirectly was paid or is p8yable out of tho funds of the
¢harity for the year to any trustee or to any person known to be conneeted to them.
Total expenses of £nil 12022- £nill have been reimbursed io £nil 12022.. non81 of the
trustees during the year.

ST WILFRID'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
MIXED MOTIVE INVESTMENT
The charily holds a mixed motive investment. which is the Freehold property of St
Wilfrid's School. It is held to provide a building for St Wilfrid's School (which is in line
with the principal objects of the Trust), but also to generate a return. Given it is not
practical to apportion the asset between investments and tangible fixed assets. the whole
of the asset is held as a tangible fixed asset.
Freehold Pioperty
Cost
At 1 September 2022 and 31 Augusi 2023
380.000
Depreclatlon
As at 1 September 2022
Charge for year
87.400
3,800
At 31 August 2023
91.200
Net Book Valuo at 31 August2023
288,800
Net Book Value at 31 August 2022
292,600
INVESTMENTS
Investments are included in the balan¢e sheet ai market value and are 811 held in the
United Kingdom.
Investment Reconciliation
Market valu6 8t I September 2022
Additions
Loss on revaluation to market value
1,196.Q79
50.000
120,9481
Markot Value at 31 August 2023
1,225,131