Charity regi5tiation nurllber 281763
IoiF
Bishop Fox's Educational Foundation
Unaudited Annual Report and Financial Slalemenls
for the Year Ended 31 March 2025
ocm

Bishop Fox's Educational Foundation
Contents
Reference and Adminislralive Details
Trustees, Report
2108
Independent Examinerfs Report
Slalement of Financi81 Activiti05
Balance Sheet
Notes to the Financial Slalements
101016

Bishop Fox's Educatlonal Foundatlon
Reference and Adminlstratlve Detalls
Chalr
Mrs J E Barrie
Truste8S
Mrs J E Barrie
Mr D Smart
Mr¥ E M Waymoulh
Mrs H Mac Connell
Mrs S Naylor
Mr T Hollingsworth
Mr S Summerill
Prof H E Kempson
Tr8asuMr and Foundatlon
Administrator
Somerset Communily Foundation
Charity Registration Number
281763
Principal Office
ejts Somerset Community Foundation
Yeoman House
Sheplon Mallet
Somer5et
BA4 6QN
Indepèndent ExamSner
Sarah Twist FCA DChA
A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA12PX
Bankèrs
Nalional Westminster Bank PIC
26-27 Fore Street
Taunton
Somersel
TAI 1JQ
Page 1

Bishop Fox's Educational Foundation
Trustees. Report
The trustees present the annual report together with the financial statements of the charity lor the year ended 31
March 2025.
The Bishop Fox'5 Educational Foundation is a Charity registered with the Ch8rity Comtnissioners for England
and Wales (charity number 2817631.
Objectives and activities
Alms
The principal aim ol the Foundation is to Promote the education of young people in Ihe fomier Borough ol
Taunton Deane by the provision of appropriate financial assislanoe.
History and Constitution
The FoLJndation's history is linked lo that of Bishop Fox'8 School, which ¢8n be traced back to 1522 and Richard
Fox. Bishop of Winchester. When in 1940 a new Bishop Fox's School was built by the Local Education AuthoTIty.
the propgrty which comprised th8 former school remained with the Charity.
In 1991 the Charily Commissioners approved a new Scheme lo re-establish the Charily as the Bishop Fo¢s
Educational Foundation with widened aims to enable ils a¢¢umulated income to be used for the educational
benefit of young people in the ar8a of Taunton, Somersel.
The Chaiity is unincorporated and is governed by a trust deed which was approved by the Charity Commission
as a scheme on 7th March 1991 as amended by resolution on 14th May 2012, 21st September 2015 and 26th
June 2017.
Objectives of the Foundation
The objective ol the Foundation is lo promote the education linduding social and physical training) of young
people in the Borough of Taunton Deane who 819 in need of financial assistance by the aw8rdillg of grants and
scholarships for educational purposes. The Foundation rnay also fund special benefits ol a kind not normally
provided by the Edu¢alion Authority for any rnaintained secondary school in the Borough of Taunton Deane.
On 1st April 2019 Taunton Deane Borough Counal 8nd West Somerset Council merged lo foirn Somerset West
and Taunton Council, thereby abolishing the Borough of TauNlon Deane. Subsequently Someisel West &
Taunton Council has become part of Somersel Council. The Tiustees have adopted the policy that references to
the Borough of Taunton Deane in the Foundation's ¢on81ilution Should Continue to be interpreted as relating to
the same geographical arga as would have been the case prior to the abolition of Ihe Borough of Taunton Deane.
Generation of Funds
The Foundation holds permanent endowment funds fiotn which income is gener8led and ulilised lor dI￿¢t
cha[￿table or other expelldilure. At the time of the Scheme in 1991, the main assets of the Foundation were two
investment properties which produced rental income. Those properties have sinTr been sold and the proceeds
reinvested. The mairi assets ol the Found81ion now comprise diversified investment funds managed on behalf of
the Trustees by CCLA. including the COIF Ch8rities Investment Fund and the CCLA Deposit Fund foi Charities.
Full details ol the Foundation's COIF investments are shown in Note 7 to the accounts.
The Charity does not undertake any fundraising.
Page 2

Bishop Fox's Educational Foundatlon
Trustees. Report {¢ontinuedl
Who i¥ Eligible?
Beneficiaries rnu51 be young persons underthe age of 25 who are is financial need and
Either are resident in the former Borough of Taunton Deane geographical area
Or are pupils 01 former pupils of maintained secondary schools in the former Borough ol Taunton Deane
geographical ar8a.
The maintained secondary schools and FE colleges in the area ot benefit are..
Bishop Fox's School, Taunton
The Castle School, Taunton
Court Fields School, Wellinglon
Monklon Wood Academy, Monkton Heathfield
Kingsmead School, Wiveliscomb&
Selworthy Special School, Taunton
Pyrtand School. Taunton
. Bridgwater & Taunton College (faunton Campus only)
Richard Huish College, Taunton
There is a preference for pupils or former pupils ol Bishop Fo￿$ School, Taunton.
What assistance can be given7
The assistance which may be given indude8 the award ol seholarships, exhibitions, bursaries, maintenan
allowances or grants tenable at any school, university, college of education 01 other institution ol further
(including professional and lechnicall education approved foi the purpose by the Trustees.
11 also includes provision of financial assistance, outfits, clothing, tools, instruments or books lo as8isI
benefioiaiies to pursue their education (including the study of music and other arts) or to prepare for or enter a
profession, tiade or occupation or Servi￿ on leaving school, university or other educational establishment.
The Foundation is not permilled to provide funds foi the relief of taxes or other public funds. Ongoing funding for
projects lasting more than one year will not be granted, although new applications may be made for second and
subsequent years in which case each application will be considered on its merits. Grants will not usually be
considered for funding beyond a 10181 of 3 years.
Achievements and performance
During the past financial year, the Trustees have awarded or pledged £194.427 in total to young people and
schools for a variety or projects. These grants will be administered by Somerset Community Foundation and
comprise of the followin9'.
Total Value
Category
Educational Grants
Individuals
No. of grdnts
32
15,856
108.724
Sporting Grants
Individuals
School Uniform Grants
Individuals
Musical and Othèr Arts Grant8
Individuals
Institutions
13
7.515
325
28.805
18
15.527
20.000
400
194,427
Page 3

Bishop Fox's Educational Foundation
Trustees. Report l¢ontinuedl
Examples of giant5 awarded during the year Include".
1. Music and Performing Arts Bursary Fund
2. Duke of Edinburgh Scheme Bursary Fund
3. Mental Health Support in Schools
4. School based community arts project
5. Pupil Enrichment Activities
6. IT Equipment
7. Fees for studying Music and The Arts
8. Travel including trips and excursions
9. Books
10.Sports Equipment
11.Training and compelilion fees
12.Uniform grants
The Foundation provides grants for the funding of school unilorms lor individuals eligible lor Pupil Premiurn, Free
School Meals and Univo1s81 Ciedit. The amount of the rnaximum grant was £110 per child during the year.
Financial review
Total income lor the year was £178,547, a decrease on the previou8 year's income of £748. Total expenditure
decreased from £230,276 10 £222,046.
Income and Expenditure for the last five years has been as follows..
Income
Expendlture
Year Ended..
31 March 2025
31 March 2024
31 March 2023
31 March 2022
31 March 2021
31 March 2020
178,547
179,295
173,978
168,004
162,453
167,755
222,046
230,276
277,160
160,945
163,403
91,569
Policy on reservgs
The Reserves of the Foundation consist of the Permanent Endowrnent Reserve and the Accumulated Income
Reserve. The Trustees are required to relain the Perrnanenl Endowment Reserve which is invested in order lo
generate income for distribution to beneficiaries. The Perrnanenl Endowment Reserve stood al £5,009,222 as al
31 March 202512024.. £5,234,299).
The Accumulated Income ReseNe represents income received in excess ol grants awarded and governan￿ and
adminislralion costs over 8 period time. As the Tiu8le&s do not award recurring grants. the only financi81
commilments of the Foundation ale ongoing governance and administialion ctssts, the reserves policy is lo relain
£10,000 in the Accumulated Income Reserve lo cover approximately 6 months of governan￿ and adrninislr8tion
costs. 11 is Ihe Tiustees, policy to encourage grant applications which conform with the Foundation's granl-making
criteria in order that the remainder of the Aocvmulaled Incotne Re5etve in excess ol the policy. currently
amounting lo £698.954 12024.. £761,181), may be distributed at the earliest opportunity ar¢d to avoid the holding
of excessive funds in the Accumulated Income Res8tve so fai as possible.
Unrealised losses on investments amounted to £243,805 12024.. unrealised gain$ £447,013) ie5ulting in a net
decrease in total funds of £287,30412D24.' increase £396,032). The Foundation hold5 unre5tiicted reseNes of
£698,95412024". £761,181) in the Accurrulated Income Fund to be awarded for future gr8nts. Of this £570,389
12024.. £589,117) is held as fixed asset investments leaving free reserves of £128,565 {2024.. £172,064).
The Foundation holds cash assets in a deposit account with the Chaiitle5 Official Investment Fund ICOIFI - this
is Considered a secure fund as it has an PAAN1 credit rating by Fitch Ratings.
The FoUndat￿n rec8ivas investment income from COIF Investments which are detailed in note 7 to the accounts.
The Trustees only distribute the income that Is 8vailable to them and recognise there is also a sub$lanlial sum ol
accumulated inoorne that could be available for 9ranl making so see no problem for the foreseeable future in their
grant making.
Page 4

Blshop Fox's Educational Foundation
Trustees. Report Icontinuedl
Public benefit
The Trustees confirm that they have refeired to Ihe guidance conlain8d in the Charity Commission's general
guidan￿ on public benefit when reviewing the charity's aims and objectives and in planning future aclivilies.
Rlsk Management
The Foundation is a grant making charity. No organisalions or individuals are reliant on gr8nts made by Ihe
¢haiily. The highest risk is lo the investment assets held by the Foundation. The Trustees have appointed
suitably qualified and regulated investment managers in order to mitigate that iisk. Through CCLA, the
investment managers, the Foundation's inveslmenls 8r8 widely diversified to avoid the ii8k of exposure to any
one inveslmenl asset cla53.
The Tru8le95 have carried out an annual assessment of the Tisks ￿1th which the charity could be ￿nfrOnted and
have s81isfied themselves that all appropriate procedures lo limit such risks are in place.
Invèstment policy and objectives
The Trustees, investment objective is lo balance income generation and capital growth within an acceptable level
of risk. The Trustees receive investment advice from CCLA and al one meeting each year performance and
income requirements are discussed with an adviser.
Governance and Management
The Trustees meet fouT times each year and grant awards are rnade al ea¢h meeting. All grants musl be
approved by a majority of the Trustees. Finance reports are presented al every rneeting. Policies are reviewed
and updated throughout the year in accordan￿ with the policy review schedule. There are no employees tsr
premises for which the charity is responsible.
No Trustees received any remuneration or expenses payments. Trustee vacancies are advertised lo secondary
Schools and colleges within the Taunton Deane area and also by word ol mouth lo candidates deemed &uilable
for the role. A panel of TIu5tees then consider5 all applications. selects candidates for interview and makes
recornrnendations for appointment to the Board of Trustees.
Page 5

Bishop Fox's Educational Foundation
Trustees. Report (contlnuedl
Statement of Trustees. Responsibllities
The Irustees are responsible lor preparing the Iruslees, report and Ihe financlal slatements in accordance with
applicable law and United Kingdom Accounting Standards including Finoncial Reporting Standard 102." The
Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Genoially Accepted
Accounting Praclicel.
The law applicable lo charities in England & Wales requires the Iiustees to prepare financial slalemenls lor each
financial year which give a true and lair view ol the slate of affairs ol the chaiily and of the income and
expendituie of the charily foi that period. In pieparing these financial statements. the tIU5tees are required lo..
select suilabie accounting policies and then apply them consislenlly.,
observe the methods and piinciples in the Chaiilie5 SORP.,
make judgements and estimates that ale reasonable and prudent.,
state whether applicable accounting standards have been followed, subjeel to any material departures
disclosed and explained in the financial stalemenls.. and
prepare the financial statements on the going con￿rn basis unless it is inappropriate lo presume that the
charily will continue in business.
The Iiustees are responsible lor keeping proper accounting iecords that disclose with reasonable 8¢cuiacy at
any lime the financial position ol the charity and enable them lo ensure Ihal the financial statements comply wth
the Chaiities Act 2011, the Charities (A￿OUnt$ and Report51 Regulations 2008, and the provisions ol the
conslilution. The Iruslees ale also respon5ib1e lor safeguarding the assets of th8 charity and hence lor taking
reasonable steps for the prevention and detection ol fraud and other irregularities.
The Iru5tees are responsible for the maintenan￿ and integrity of the corporate and financial information included
on the charitable company'5 website. Legislation in the United Kingdom governlng the preparation and
dissemination of financial Statements rnay differ from legi$181ion in other jurisdi¢lion5.
The annual report Was approved by the trustees of the ¢h8rity on ......
d signed on 118 behalf by..
Mrs J E Barrie
Chair
Page 6

Bishop Fox's Educational Foundation
Independent Examinerfs Report to the trustees of Blshop Fox's Educational Foundation
I report to the Iru5tees on my examination of the accounts of Bishop Fo*s Educational Foundation for the year
ended 31 March 2025. which are sel out on pages 8 IcTr 16.
Responsibilities and basis of report
As the charity trustees of Bishop Fox's Educational Foundation you are responsible for the preparation of the
awounls in accordallTr with the requirements ol the Charities Act 2011 I'lhe Act'i.
I report in respect of my examination of the Bishop Fox's Educational Foundation's accounts carried out under
section 145 01 the 2011 Act and in carrying out my examination I have followed all the applicable Directions given
by the Charity Commission under section 14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come lo my ottenlion in connection
with Ihe examination giving me cause lo believe that in any rnalerial r8spettt'.
accounting records were not k8Pt in resped ol Bishop Fox's Educational Foundation as required by section
130 of the Aet". or
2. the accounts do not accoid with those records., or
3. the accounts do not comply with the 8¢counling requirement$ concerning the fomi and conlenl of accounts
set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the
accounts glV8 a'lrue and fair vievl which is not a matter considered 88 Part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo which attention
should be drawn in this report in order to enable a proper understanding ol the accoun1$ lo be reached.
Sarah Tw5t FCA DChA
A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somersel
TA12PX
Dale..
Page 7

Bishop Fox's Educatlonal Foundation
statement of Flnancial Actlvltles for the Year Ended 31 March 2025
Permanent
Endowment
fund
A¢cumulatgd
income fund
Total
2025
Note
Income
Investment incorne
178,547
178.547
Total income
178,547
178,547
Expenditure
Charitable activities
222,046
222,046
Total expendilure
1222,0461
1222.0461
Gainslllossesl on investment assets
225,07
18,728
243,805
Net lexpendilure}
225,07
62,227
287.304
Nel movement in funds
1225,0771
162,22n
1287.3041
Reconciliation of funds
Total funds brought forward
5.234,299
761.181
5,995,480
Total funds carried forward
5.009,222
698,954
5,708,176
Permanent
Endowment
funds
Accumulated
Income funds
Total
2024
Note
In¢gm8
Investment income
179,295
179,295
Tol31 iNcom8
179,295
179,295
Expenditure on=
Chaiitable activities
230,276
230,276
Total expenditure
Gainslllossesl on investment a85ets
{230,278}
32,006
{230,2761
447,013
415,007
Nel inoom8llexpenditurel
415,007
18,975
396,032
Nel movemerkl in funds
415,007
118.975}
398,032
Reconciliation of funds
Total funds brought forward
4.819,292
780,156
5,599,448
Total funds carried fO￿ard
5,234,299
761,181
5,995,480
The notes on pages 10 10 16 form part of these financial slatemenls.
Page 8

Bishop Fox's Educational Foundatlon
(Registration number: 2817631
Balance Sheet as at 31 March 2025
2025
2024
Note
Flxed assets
Investments
5,579,611
5,823,416
Current assets
Debtors
Cash at bank and in hand
44,641
101,464
44,335
222,439
146,105
266,774
Creditors= Amounts falllng due within one year
10
17.540
94.710
Net current a¥B¢ts
128,565
172,064
Net assets
5,708,176
5,995,480
Accumulated Income fund
698,954
761,181
Permanent Endowment fund
5.009,222
5.234,299
Total funds
11
5,708,176
5,995,480
The
Inanci91 31alemenls on page5 8 10 16 were approved by the Iruslees, and aulhorised for issue on
il>. and signed on Iheii behalf by..
M¥5 J E Barrie
Chair and trustee
The notes on pages 10 to 16 form part of these financial statements.
Page 9

Bishop Fox's Educational Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Accounting policie8
General Informatlon
The Foundation is unincorporated and is governed by a trust deed.
Statement of complSan¢e and basi¥ of preparatlon
The financial statements have been prepared under th8 hisloiic81 cost convention with items recognised al cost
or transaction value unless Stated otherwise within the88 notes. The financial statements have been prepared in
accordance with Accounting and Reporting by Gharities.. Statement ol ReEommended Practi￿ applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (issued October 20191- IChaiitie5 SORP IFRS 10211, the Financial Reporting
Standard applicable ill the United Kingdom and Republic of Iieland IFRS1021, and the Charities Act 2011.
Bishop Fox's Educational Foundation meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about Ihg ch8Tily's ability to continue as a going
concern.
Income
All income is recognised when the charity has entillement to the income, il is probable that the income wll be
feceivgd and the amount can be measured with sufficient ￿liabIlIty.
Dividends are ¥ecognised once the dividend has been declared.
Mustical Instrumont Loans
The Foundation p￿ViouslY gave some financi81 assistance in the form of musical instrument loans, Ihou9h no
new loans ar8 now being issued. Re￿ip1S lor instiutnent5 sold to the student on the expiry of the loan ar
accounted for when the sale 15 agreed. Receipts for insliumenls returned to the Foundalion and then sold on
commercial basis are accounted ftsr when the Cash is iec8lV8d.
Musical inslrurnenls with an eslimated value of £2,500 ale owned by the Foundation and have been loaned lo
students. Should the loan agieement be terminated, the instruments wll be sold, but the proceeds ol sale are
impossible to delerwine al this stage and, therefore, the value of th@ instruments is not included in the
Foundation. balance sheet.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation lo that expenditure, il is probable
seltlernenl is required and the amount can be measu￿& reliably.
Charitable expenditure comprisgs Ih05e costs incurred by the charity in the deliv8ry of its activities and service for
ils beneficiaries. It includes both cost5 that can be allocated directly lo such activities and those ctssts of an
indirect nature necessary lo support them including governance costs.
All resour￿$ expended are inclusive ol irrecoverable VAT.
Charitable activities
Charitable expenditure comprises Ih05e costs incurred by the charity in the Ilelivery of ils activitie5 and services
lor its beneficiaries. 11 includes both cosls that can be allocated directly lo such activities and those costs ol an
indirect nature necessary lo support them.
Grant expenditure
Grants payable are included as expenditure in the year in which they are approved by the Iruslees and has been
cornmunicaled to the grant recipient.
Page 10

Bishop Fox's Educatlonal Foundation
Notes to the Finan¢lal Statement$ for the Year Endod 31 March 20251continuedl
Taxation
The charity Is 8 registered charity and is, Iheielore. exempl from liability lo taxation on ils income and capital
gains. lo the extent that they are applied for chaiitable purposes.
Fixed asset investments
Listed investments
Listed investments Esre a form of basic financial instrument and are initially recognised at their transaction value
and subsequently measured at fair value al the balano sheel dale using the c105ing quoted market price. The
Statement ol Financial Activities includes the net gains and losses arising on revaluation and disposals
throughout the peiiod. The Trust does not awuire or use pul options. deiivatives or other complex financial
inslrumenls.
Realised gain5 losses
All gains and losses are taken lo the slaternent of financial 8clivili85 a5 they arise. Realised gains and losses on
inveslrnerils are calculated as the difference between sales proceeds and their opening carrying value or their
purchase value il acquired subsequent lo the fifst day of the financial year. Unrealised gain8 and losses are
calculated as the difference between tho fair value at the period end and their carrying value. Realised and
unrealised investment gains and10s8es are combined in Ihe Slalement ol Financial Activities.
Cash and eash equivalents
Cash and cash equivalents Comprise cash on hand and call deposits, and other short-term highty liquid
investments that are r8adily eonvertible lo a known amount of cash and ar8 subject to an insignificant risk of
change in value.
Flnanclal in$trurnents
Classification
The chaiily only enters into basic financial instruments that result in the recognition ol financial asset8 and
liabililies such as trade and other debtors and creditors log$lherwith loans lo related p8rties.
Debt ill5tiumenls, such as trade debtors and creditors, are initially measured al transaction price and
subsequently tneasured al amortl8ed c05t.
Financial assets are assessed al the end of each reporting period lor objective evidenc8 01 impairment. Sf
objeclive eviden￿ ol impairment is found, an impairment Ioss 18 recognised in the incorne slalement.
CTltical Accounting Estimates and Judgements
The preparation of the financial staternen15 in confomity with FRS 102 requires management to make
judgemenls, eslirnates and assumptions that affecl the application of policies and reported amounts of assets
and liabilities. incorne, and expenses.
Estimates and judgement5 are continually evaluated and are based on historical experience and olhei factors.
including expectations of future events th81 are believed to be reasonable under the circumstances.
The company makes estimates and assumpliorF5 conceming the future. The resulting accounting estimates will.
by definition. seldom equal the related actual results. The Trustee8 consider that there are no ¢iilical accounting
eslimales and judgements Ihal have a significant risk ol causing a material adjustment to the ￿[ryIng amounts of
a3sels and liabilities within the next rinancial year.
Page11

Bishop Fox's Educational Foundation
Notes to the Financlal Statements for tho Year Ended 31 March 2025 Icontinued)
2 Investment Income
Total
2025
Total
2024
Dividends Re￿Ivable
Interest Receivable
173.731
4,816
169,927
9,368
178,547
179.295
Dividends leC61vable relate lo shares held with the Charities Official Investment Fund {COIFI.
Interest re¢eivabte relates lo interest earned on the COIF Deposit Account.
All inveslrnent Income relate5 tts the unrestricted accumulated income fund.
3 Expènditure on charltable activities
Total
2025
Total
2024
Note
Grant funding lo inslitutions
Allocated support CO8ls
193,763
28,283
202,331
27,945
222,046
230,276
All expenditure on the charitabl8 activities relates to the unrestricted aecumulaled incomts fund.
This comprises grants made l01ndividuals as follows..
2025
2024
No. Grants
No. Grant5
Grants- inslilulions- Somersel
Community Foundation
Education Giants- individuals
Sporting Grants- individuals
School Uniftsrm Grants- individuals
Musical & Other Arts Grants-
individuals
194,418
16551
196,939
969
805
218
3,400
193,763
202,331
Page 12

Bishop Fox's Educational Foundatlon
Notes to the Flnanclal Statement$ for the Year Ended 31 March 2025 Icontinuedl
4 Analysis of support ¢osts
Support and Governance Costs
Total
2025
Total
2024
Administration Setvices provided by..
Somersel Community Foundation
Insurance
Independent examination
Bank Charges
25,608
270
2,400
24,671
260
3,000
14
28,283
27,945
Admillistralion and bookkeeping seNiTrs are purchased from Somersel Community FoUndat￿n und&r seTvice
level agieemenls reviewed annually by the Iru5tees. The trustees consider that these services provide the best
Value for money availabl8.
5 Trustees remuneration and expenses
The Foundation considers ils key managemenl personnel lo comprise of the Trustees.
No trustees. nor any persons connected with them, have received any remuneration from the charity during the
year12024- Nil)
No Iruslees have received any ieimbursed expenses from the charity during th8 y88r12024- Nill.
6 Taxation
The charity Is 8 registered charity and is therefore exempl from taxation on ils income and gains, lo the extent
that they are applied to charitable purposes.
Page 13

Bishop Fox's Educational Foundation
Notes to the Flnancial Statements for the Year Ended 31 March 2025 leontlnuedl
7 Flxed asset investments
Total
2025
Total
2024
Cost or Valuatlon
Al 1 April
Revaluation
5,823,416
243,805
5,376,403
447,013
At 31 March
5,579.811
5,823,416
All investments are with the Charities Offi¢ial Investment Fund ICOIFI and are slated al maiket value.
Unrealised losses on investments of £225,077 12024.. unrealised gains of £415,007) relates to the perman8nl
8ndowmenl fund and £18,72812024.' unrealised gains of £32,006) lo the unreslricled accumulated fund.
Market Valuè
2025
Market Valu8
2024
Price per share
Ipencel
Fund
No. of Shares
Permanent Endowment
COIF Property Fund Income Units
COIF Investment Fund Income Units
COIF Global Equity Income Fund
Income Units
440.576
203.154
104.97
1,948.06
462,473
3,957.558
456,040
4,150.961
211,939
278
589,191
627.298
Total Permanent Endowment
Investments
5.009,222
5,234,299
Accumulated Income Fund
COIF Property Fund Income Uni18
COIF Investment Fund Income Units
138,790
21,801
104.97
1,948.06
145,687
424,701
143,661
445,456
Total Accumulated Income Fund
Investments
570,388
589,117
Tol81 Investments
5,579,610
5,823.41S
P8ge 14

Bishop Fox's Educational Foundation
Notes to the Flnanclal Statements for the Year Ended 31 March 2025 leontlnuedl
8 Debtors
2025
2024
Dividends
Interest receivable
44,266
375
43.375
960
44,641
44.335
9 Cash and cash equivalents
The Foundation operates a current account with Natwest Bank and a deposit account with Charities Official
Investment Fund ICOIFI.
10 Creditor$: amount5 fallirhg due wlthin one year
2025
2024
Gr8nls payable
Independent examin81ion
15,140
2,400
91,710
3.000
17,540
94,710
11 Funds
Other
recognised
Expenditure gain$lllossesl
Balance at
31 March
2025
Balance at 1
April 2024
Income
Accumulated Income fund
761.181
176.547
{222.0461
118,728)
fj98,954
Permanent Endowment fund
5,234,299
225,077
5.009,222
Total funds
5,995,480
178.547
222,046
243,805
5.708,176
Other
recognised
Exponditur& galnslllossesl
Balance at
31 March
2024
Balance at I
April 2023
Income
Accumulated Income fund
780,156
179.295
P30,2761
32,006
761,181
Perrnanenl Endowment fund
4,819,292
415,007
5.234,299
Total funds
5,599,448
179.295
230,276
447,013
5,995,480
Page t5

Blshop Fox's Educational Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025 Icontinuedl
12 Analysis of net assets between funds
Permanent
Endowment
funds
Accumulated
Income
funds
Total funds at
31 March
2025
Fixed asset investmen15
Current assets
Current liabililies
5.009,222
570,389
146,105
17,540
5,579.611
146.105
17,540
Total net assets
5,009.222
698,954
5.708,176
Permanent
Endowment
funds
Total funds at
31 March
2024
Accumulated
Income funds
Fixed asset investments
cu[￿nt assets
5,234,299
589.117
266,774
94,710
5,823,416
266,774
94,710
Total nel assets
5,234,299
761,181
5,995.480
The assets in the permanent endowrnenl fund cannot be converted into income and. therefore. provide a se¢uro
inve5trnenl base and source of income lor Ihe oharily.
The income ol the foundation, after deducting the administration and govemance costs of the charity, is applied
in accordance with the objects of the charity. There are no specific restrictions on the use of the charilys income.
13 Related party transa¢tlons
There were no related party transactions in the ye8r12024- Nil).
Page 16