(HARIIY COMMISSION Trustees, Annual Report for the period Section A Reference and administration details charity name OLS bcwo¢irtDJ Other narnes the charity is known by Ob Registered charity number {il anv) Chaiity's principal addfess E CaLL£G E FFI Poslcode Names ol the charity Iruslees who manage Ihe charity Name of person (Of body) enlitled to appolnt trustee (If any) Irustee Name olfice (If any) Dales acled if noi foi whole yeaf SiMCLhi< ."J L)Ll 10 12 13 14 15 16 17 18 19 20 Name5 01 the tFUStees lor ihe chaiily. il any (lor example. any custodian Iruslees) Name Oates a Full name(s) Position (eg Se(relary. chalr, ett) Dale TAIt IAarch 2012 Old Dovorian Trust Report and Financial Statements Year Ended: 5 April 2024 Charity No.: 281072 Page 1110 Old Dovorian Trust Reference and adminlstrative information Trustees Rlchard Roblnson John Slnclalr Rlchard Foxwell Roger Ka8an Jullan Wood Prlnclpal Address Dover College. Dover. KenL cr17 9RH Charlty Number: 281072 Bankers Natwest Bank, Market Square. Dover. Kent. cr16 ING Metrobank. 10 Week StreeL Maldstone, ME14 IRN Investment Managers Phoenlx Wealth Management. 5 Meadow Court, Hl8h Street, Wltney, Oxfordshlre, OX28 6ER M&G Charltles, PO Box 9038, Chelmsford. CM99 2XF Page 2110 Report of the Trustees for the year ended 5 April 2024 The trustees present their annual report and financial statements for the tharlty for the year ended 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out in note l of the accounts and comply wlth the charitrfs trust deed, the Charities Act 1993 and the Ststement of Recommended Practke: Accountlng and Reporting by Charities published in 2005. Strurture, Governance and Management The trust is a registered d)arity, number 281072, and is constituted under a trust deed dated 20 May 1980. The Trust was set up by three Old Dovorians. Over the years Ihe Trust has been the beneficiary of a number of grants and donations from Old Dovorians for the benefft of Dover College. The Trust does not artively fundralse and seeks to contlnue the charitable work desired by the donors through the careful stewardship of its current resources. New trustees are appointed by existing tru#ees and Serve until they chose to retire. There needs to be a minimum of two trustees serving at any one point. All trustees give their time freely and no remuneration has been paid to any of the trustees durin8 the year. The trustees meet a minimum of once a year fomally. There are more regular informal meetings and discussions by email and phone to discuss matters arlslng. Slnce all four trustees are in regular contart with Dover College. we do frequently look for areas that need asslstance, and liaise with the Headmaster as to how such funds can usefully be applied. In relatlon to our investments, we have tsken Steps to dIVer￿fy our rlsk by ensurlng our funds a￿ managed by two reputable finance houses as well as retaining a property for investment income that was left to the Tntst by way of legacy. All strategic financial declsSons are taken by a minimum of 2 trustees, whlle fund switches as recommended by brokers, can be agreed by one trustee. Objectives and Actlvities The Trust receives and invests donations made from Indmduals connected to Dover College and the Old Dovorian aub. The Trust makes disbursements for the advancement of education, and in particular, the advancement of educatlon at Dover College, althou8h funds may be used for any educational purpose. In recent years the Trust has assisted the restoration of the refectory, the replacement chapel organ and sponsored the prizes at Prize Day. Page 3110 The trustees continue to refer to the guidance contained in the Charlty Commission's general guidance on public benefft. Performance and Achlevements The Trust works closely wlth Dover College In order to assist with events that also benefft the surroundin8 area. During the year, £12500 TIRS disbursed to Dover College. of this £2,500 was used to fund the prlzes for the annual prize day event. The remaining £IO,I)00 was Used for bursarie5. The OD Trust has committed to funding bursaries at the level of £10,000 per year for the next 5 years untll 2028. with the scope to increase at the dtscretlon of the Trnstees. The Trust has a webslte which encourage5 donations, as well as offering for sale Dover College memorabllla In order to ralse additional funds. Financial Review The Trusvs work is entirely rellant on interest and investment returns on its endowments. Donatlons for the year amounted to £54. The trustees made disbursements totallin8 £31,126 during the year and the only expenses incurred were in relatlon to the running and maintaining the investments of the Trust. Investment Policy and Performance Our advisors are instructed to invest to maximise the return oft permanent funds withln the constralnts of a medium to lowqlsk Investment portfolio. With specific reference to the bulk of the Investments managed by Phoeni￿ the funds are managed on a total return basis. Thi5 mean5 that we have no preference for whether the return generated is through capital gain or income. The advantage of such an appn)ath is that ft allows our fund managers to balance the portfollos. Page 4110 Trustees, responslbility in relation to financial statements The trustees are responslble for preparing the Trustees Report and the financial statements in accordance with Applicable Law and Unlted fingdom Accounting Standards Iuniteil Kingdorn Generally Accepted Accounting Practke). The Liw applicable to Charities in England and Wales requlres the trustees to prepare financial ststements for ead) financlal year that 8lve a true and fair vlew of the state of affairs of the charlty and of the incoming resources and application of resources for that period. In p￿paring these financial statements, the trustees are required to: Select suitable Accounting Policie5 and ensure they are applied conslstentl Observe methods and principals of Charitles SORP: Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any departures bein8 disclosed and explained in the financlal statements; and: Prepare the financial statements on a Eoing concern basis unless it is inappropriate to presume the charity will continue in business. The trustees are responsible for keeping accountlng records which disclose wlth reasonable accuracy the position of the charity and enable them to ascertain to ensure that the financial statements comply wlth the Charities A¢ 2011. the Charfty (Report and Accounts} Regulations 2008 and the provisions of the Trust Deeds. They are also responslble for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are ￿SPOnsible for the maintenance and integrity of the charity and the financial infomiation. Approved by the trustees on 23 August 2024 and signed on their behalf by. Richard Roblnson (Trustee) Page 5110 Old Dovorian Trust Statement of Flnanclal Activities For the year ended 5 Aprfl 2024 Old Doyorian Ihmt StstsmeDt of Financtsl ACtI￿eS ffi)r the year eDded ¢ April 2024 Fund$ In¢omln8 Resour¢es Voluntary income: Donations and gifts 41 Activitiesfvrgenemtingfvnd&' Memorabilia Sales Income Investment income Property Rental 155 .051 10.575 25.781 8,271 9,825 ,096 Total Incomlng resources 25.835 18,137 Cost oAgenerotingfvnds.' Memornbilia Sales Expenses Investment managernent fee5 Property Costs 11533 6,963 18,626 11.159 4.275 .434 Charitable actNities Total resources expended 12,IX 31.126 N•t Inc¢Miln8 resourths I Iresaurtos expended) (5.292) L261 {9,2981 13.334 Reallsed gainslllosses) on investmentassets Net Incomlng resources I (resources expendedl induding re•llsed Eains on Inbwtments Unreali5ed gainslllossesl on investment a55ets Gains on the revaluation of prope Nèt mo¥em•nt in fvnd5 Fund balances brouEht for4vard at 6th April 2023 Fund balances carried for￿rd at 5th April 2024 (6552) IOL939 I￿.631) 126.4041 80.000 40,965 1,321,268 1362 233 95,387 1.362,233 1.457,620 Page 6110 Old Dovorian Trust Balance Sheet as at 5 Aprfl 2024 Unrestrlrted Funds 2024 Unrestrlcted Funds 2023 Notes Flxed assets Tangible assets (revalued) Investments 240,000 1,178 619 1,418,619 240,(100 1,076,680 1,316,680 Current assets Stocks Cash atbank and In hand ' Other Debtors 3,615 42,513 3,747 39,497 9,240 52.483 46.129 Credltors: amounts falllng due wlthin one ￿ar Net current assets Net assets Funds: Unrestrlcted funds General funds Revaluation Resen Total funds 1,377,620 1,282,233 80,000 1,362,233 1.457.620 The notes on pages 8 to 10 form part of these finandal statements, Approved by the Trustees on 23 August 2024 and slgned on their behalf by: Rkhard Roblnson Page 7110 Old Dovorian Trust Notes to the Flnanclal Statements For the year ended 5 Aprll 2024 Basls of Preparatlon 1.1. Basls of Accountlng These accounts have been p￿pa￿d on the basls of hlstorlc cost (except that Investments are shown at market value) In accordance wlth: Accountlng and Reportln8 by CharStles- Statement of Recommended Prnctlce ISORP 20051 And the Flnanclal Reportln8 Standard for Smaller Companles and the Companles Act 2006. 1.2. Change In Basls of Ac¢ountln8 The Investment property has been revalued to Market Value for the flrst tlme thls year and there have been no other changes to the accountln8 pollcles Ivaluatlon rules and methods of accountln81 slnce last year. 1.3. Change to Prevlous Accounts No changes have been made to accounts of prevklus years. 2 Accountln8 Pollcles INCOMING RESOURCES Reco￿lt10Th ol Incoml re￿UleIS These are Included In the Ststement of Flnanclal Actlvltles ISOFAI when: the charlty becomes entltled to the resources: the trustees are vlrtually certaln they wlll recelve the resources; and the monetsry value can be measured wlth sufflclent rellablllty. Incomlng rnsourc•s wlth rnlat•d Where Incomlng resources have related expendlture las expend1￿r? wSth fundralslnB or contrart Income) the Incomln8 resour￿5 and related expendlture are reported gross In the SOFA. Oonatlons are only Included In the SOFA when the charlty has uncondltlonal entltlernent to the resources. Donatlons Gffts In klnd Glfts In klnd are accounted for at a reasonable estlmate of their value to the charlty or the amount actual realised. Glfts in klnd for use by the charlty are Included In the SOFA as Incomlng resources when ￿ceIvable. The value of any voluntary help recebved Is not Included In the accounts but Is described In the trustees, annual report. Thls Is Included in the accounts when re￿1¥able. Volunte•r help Investment In¢om8 Investment galns and losses This includes any galn or loss on the sale of investments and any 8aln or loss resultlng from revalulng investments to market value at the end of the year. EXPENDITURE AND UABILITIES Llablllty re¢o8nftlon Uabllltles are ￿COgnISed as soon as there Is a legal or construrtlve obllgatlon commlttlng the chaflty to pav out resources. ASSETS Tanglble Flxed Assets No depreclatlon Is provlded on leasehold property. ITr the Trustees, oplnron the value of the property was slgnlflcantly understated and has therefore been revalued to Market Value. Dep￿cIatIon Is provlded at the followlng annual rates In order to wrfte off each asset over Its estSmated useful Ilfe. Leasehold property Improvements 20% on cost Other tan8lble fixed assets for use by the Charlty 20% on ost Investrnents quoted on a reco8nlsed stock exchan8e are valued at market value at the year end. Other Investment assets are Included at trustees, best estlrnate of market value. These are valued at the lower of cost or market value. Inveslm¢nts Sto¢ks and work In 3 Investment Income 202 3,183 11,868 Inte￿$t Recelvable Dlvidends receivable from Investments and unlt trusts 4,174 4,097 27 4 Trustee< Remuneratlon and Beneffts There were no trustees, remuneratlon. benefit or expenses for the year. nor the year ended 5th Aprll 2024. 5 Tanglble Flxed Assets Balance a5 at 6 April 2023 Additions Revaluation of Prope to Market Value Depreciation cha e for the Balance as at 5 Aprll 2024 240,000 ar The Leasehold property is held as an investment property. 6 Fixed Asset Investments 2024 1,076,680 202 1,103,08S Carrying (market) value at beglnnlng of year ald: additions to investments at cost 67.342 233.995 Less: disposals at Car￿n8 ￿[￿e 1673421 {233,9961 Add/ldedurt): net gainl(10$51 on revaluation 101.939 126,4041 Carrying (market) value at end of year Investments listed on a reco8nised stod( exchange or held in common investment funds, open ended investment companies, unit trusts or other collective irvlestment schemes. The historical c05t at 5th April 2024 wa5 £1,019.7781S" April 2023 £952.4361. 7 Revaluatlon of Property The tru5tee5 revalued the Investment Property to Market Value of E240,000 as at the end of the 2023 financlal year. 8 Credltors Amounts due within one year. Other Creditors and Accruals 9 Analysls of Charitable Funds Ana Is of Fund Movements: Balance Fwd Incomin Resources Resources Gains and sses FUD Fwd Unrestricted Funds 10 Related Parties No tranSaCt￿n$ ti)ok place durln8 the yearwith Dfftr Colle8e lyear ended 5th WII 2023- nlll. Page 10110 Docu$lgn Envelope ID.. 9DCD8AC￿S52948l2-a3Eg-A5D8SEFEA1E5 CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Old Dovorian Trust On accounts for the year ended 5 April 2024 Charity no {If any) 281072 Set out on pages 1 to10 I report to th8 trustees on my examination of the accounts of the above charity I'the Trust.) for the year ended OS10412024. Responslbllltles and bagls of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts ¢arried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ibl of th8 Act. Independent Thé charity's gross income exceeded £25,000 and l am qualified to examlner's statement undertake the examination by being a qLtalrfied member of th8 South African Institute of Chartered Accountants.. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination which gives me cause to believe that in. ar¢y material respect.. th6 accounting records were not kept in accordance with section 130 of the Charities Acl., or the a¢counls did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement Ihat thegccounts give a 'true and fair, view which is n•1 a matter considered as part of an independent examination. I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in Ihis report in order lo enable a propèr understanding of the a¢¢ounts to be reached. Slgned: Date: 1010912024 TFOFI Name: Basil Zafiropoulos 11ER Oct 2018 Oo¢u$vJn Envelope ID.. gD¢DBAc￿552946l2-83E9-A5BBsEFEAlE5 Relevant professlonal Member of the South African Institute of Chartered Accountants qualificationls) or body Membership nurnber.. 20041595 (If any): Address: 35 Rulhin Road London SE3 7SJ Se¢tlon 8 Disclosure Only complete if the examiner needs to highlight material matters of con￿rn {see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Glve here brlef detalls of any Stems that the examiner wishe5 to dlsclose. NIA 21ER Oct 2018