Eton Parish Educational Trust Registered Charity Number 292751 Trustees, Annual Report and Financial Statements for the year ended 31 August 2025 Eton Parish Educational Trust Registered Charity Number 292751 Contents of Financial Statements For the ear ended 31 Au ust 2025 l. Trustee's report forthe year ended 31 August 2025 (pages 3-5} 2. Independent Examinerfs report forthe year ended 31 August 2025 (page 61 3. Statement of Financial Activities Ipage 71 4. Balance Sheet Ipage 81 5. Notes to the accounts Ipage 9-111 Eton Parish Educational Trust Registered Charity Number 292751 Trustees, re ort for the ear ended 31 Au ust 2025 The trustees present their report and the unaudited financial statements for the year ended 31 August 2025. Structure & Governance Eton Parish Educational Trust ("the chariv) is constituted as a charitable trust and its governing document is the Charity Commission Scheme dated 17 December 2010 1"the Scheme"). The trustees are responsible for the administration and decisions of Eton Parish Educational Trust in accordance with the Scheme. There aretwo ex-officio trustees and up to a further three trustees may be co-opted to the charity. Administrative details of the charity. its trustees and advisors: Trustees Peter McKee IChair} Revd Stephen Gray Andrew Saunders Kirsty Young (resigned I September 20251 Amanda Ferrier (appointed l January 20261 Annalisa Serra lappointed l January 2026) Two of the trustees serve ex officio their other appointments namely Peter McKee, the Vice Provost of Eton College and Revd Stephen Gray, the Condurt of Eton College. Other trustees are co-opted in accordance with the Scheme and on the basis of skills required by the trustee board. Principal address= The Bursary, Eton College, Eton, Windsor, Berkshire, SL4 6DL. Charity Registration number- 292751 Bankers: Barclays Bank PIC Independent Examiner- Catherine Taylor Ob-ectives and artivities The charitvs objects are to advance the education for the public benefit in accordance with the principles of the Church of England. through the provision of= lal A site for a school. Ibl Item5, services or facilities at the school provided by the charity. Icl Grants, or other forms of assistance to beneficiaries in the Ancient Parish of Eton and, at the trustees,. discretion. and adjoining Parish. Eton Parish Educational Trust Registered Charity Number 292751 The charitvs principal asset is the land (registered under title number BK466855 and BK3951381 which forms the substantial part of the site of the Eton Pomy Church of England First School. The property is held by the Office Custodian for Charities on behalf of the trustees. The charity is required by its governing document to use its property to provide a site for a school and since the school is permitted to use the site under the terms of a Church Supplemental Agreement, no value is attributed to the site in the financial statements. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitvs aims and objectives and in planning future activities. Grants Poli The trustees have a policy to apply annual income for the charit￿5 objects. Applications from the Eton Porny and from other educational institutions or beneficiaries for benefit of relatively significant educational projects are considered. The trustees prefer making donations in the order of £1,000 to £5.￿0 that will have a greater educational impact than smaller sums to individuals. Grants should be applied directly for educational purposes. Achievements and erformance In the year to 31 August 2025, grants amounting to £27.007 {2024: £31,186) in total were made to Eton Pre-school, Eton Pomy School. Eton Wick COE School. Windsor Learning Partnership. Eton Information Centre, St Edward5 Royal Free and Eton Action. Financial Rev¢ew Investment income for the year was £26,54412024= £29.0151. Grants were £27,00712024- £31,186). The investment managerfs fee was £2.01412024 £1,9021. Net expenditure was £2,47812024.. £4.0741 before gains on investments. Net Income totals £39,56912024'. net income of £66,199) after investment gains. The value of investments, cash and deposits at 31 August 2025 was £815,854 12024.. £776,285) with realised gains of £2,000 (2024: £1,908) and an unrealised gain of £40.046 12024: gain of £68.3651. The endowment fund on 31 August 2025 was £600,000 {2024: 600,0001. Unrestricted income was £215.85412024'. £176,285). Goin Concern No material uncertainties that cast significant doubt about the ability of the charity to continue on a going concern have been identified by the trustees. Reserve olic The charity will normally award grants equal to its total annual income after expenses. Restricted funds are available should the trustees wish to award grants in any year which are Eton Parish Educational Trust Registered Charity Number 292751 in excess of the net annual income. It is also available to meet any abnormal expense. The trustees consider that either revenue reserve is adequate for these purposes. Risk Assessment The major risks to which the charity is exposed. as identified by the trustees. have been reviewed and systems and controls have been established to mitigate these. Trustees, Res onsibilities Statement The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view to the state of affairs of the Charity and of the incoming resources and application of resource5 of the Charity for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and apply them consistently; Observe the methods and principles in the Charities SORP; Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed,. and Prepare the financial statements on the going concern basis unless it is not appropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document deed. They are also responsible for safeguarding the a55ets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other iriegularitie5. By order of the Trustees Peter McKee Chairman Date: 202 20/,1 Eton Parish Educational Trust Registered Charity Number 292751 Inde endent Examiners Re ort for the ear ended 31 Au ust 2025 I report to the trustees on my examination of the accounts of the above charity 1.the Trust") for the year ended 31 August 2025. Res onsibilities and basis of re ort As the charitls trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the Act). I report in respect of my examination of the Trusts accounts carried 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 sertion 145(5llb} of the Act. Inde endent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below) which gives me cause to believe that in, any material respect: The accounting record5 were not kept in accordan￿ with section 130 of the Charities Act- or The accounts 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 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no matters in connettion 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. Catherine Taylor FCA Date= aé,1￿/1026 Eton Parish Educational Trust Registered Charity Number 292751 Statement of Financial Artivities ear ended 31 Au ust 2025 Note Year ended 31.08.25 Year ended 31.08.24 INCOME FROM Deposits & investments 26,544 29,015 Total income 26,544 29,015 EXPENDITURE Grants Awarded Investment Managerfs fees 127,007} {2,0141 131,1861 11,9021 Total expenditure (29,021} {33,088) NET EXPENDITURE 12,477) 14,074} Realised Gains on Investments Sold 2,(X)O 1,908 Unrealised Gain on value of investments held 40,046 68,365 NET MOVEMENT IN FUNDS 39.569 66,199 Reconciliation of Funds: Total funds brought forward 776,285 710,086 Total funds carried forward 815,854 776,285 Eton Parish Educational Trust Registered Charity Number 292751 Balance Sheet as of 31 Au ust 2025 Notes 31.08.25 31.08.24 FIXED ASSETS Land and Buildings CURRENT ASs￿s Cash at bank (Barclays & Schroders/Cazenovel 62.126 62,603 National Savings Bond at Cost 40,0(K) 40,¢J)O Investments at mid-market value 713,728 673,682 Total current assets 815.854 776,285 Accrued expenses Total Net Assets 815,854 776,285 REPRESENTED BY: Endowment Fund Unrestricted Income 600,000 215.854 600,000 176,285 Total funds 815,854 776,285 Eton Parish Educational Trust Registered Charity Number 292751 Notes to the Accounts ear ended 31 Au ust 2025 I. ACCOUNTING POLICIES Chari Information Eton Parish Educational Trust is constituted as a charitable trust and its governing document is the Charity Commission Scheme dated 17 December 2010. Basls of Accountin The financial statements have been prepared in accordance with the Charities SORP IFRS1021 applicable to charities preparing their accounts in accordance with the Finance Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and the UK Generally Accepted Practice. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2CKI8 only to the extent required to provide a 'true and fair, view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS1021 Issued on 16 July 2014 rather than the Accounting and Reporting by Charities- Statement of Recommended Practice effertive from l April 2005which has since been withdrawn. Eton Parish Education Trust meets the definition of a public benefit entity under FRS 102. Tan ible fixed assets Land and buildings owned by the Eton Paris Educational Trust are those presently occupied by Eton Porny School which are in use by the institution free of rent. The charity is required by its governing document to use its property to provide a site for a school and since the school is permitted to use the site under the terms of a Church Supplemental Agreement, no value 15 attributed to the site in the financial statements. Goin Concern The trustee5 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the approval of the financial statements. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trustees. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. Eton Parish Educational Trust Registered Charity Number 292751 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured easily. enditure All expenditure is accounted for in the Statement of Financial Activities in the period to which the cost relates and is apportioned to cost categories based on the nature of the cost incurred. Grants are accounted for in the period in which they are made or communicated to the third party. The grant making policy is discussed further in the Trustees. Report. Investments Investments are stated at market value as at the balance sheet date, and any gains or losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities. 2. ENDOWMENT FUND The Endowment Fund is derived from the 53le price of the buildings on the Eton Porny site plus the appreciation in the investments. The charity has opted to follow the standard rules for the investment of permanent endowment with investment managerfs fees being charged against income. 3. MOVEMENT IN RESERVES Opening balance Movement Closing balance 2023124 Permanent Endowment Unrestricted Income 600,(K)O 100,086 710.086 600,000 176,285 776,285 66,199 66,199 2024125 Permaner)t Endowment Unrestricted Income 600.000 176,285 776,283 600,000 215,854 815,854 39,569 39,569 io Eton Parish Educational Trust Registered Charity Number 292751 4. RELATED PARTY TRANSAcfioNS Andrew Saunders is a parent and a Governor of St.Edwards Royal Free Ecumenical School. St.Edwards Royal Free Ecumenical School received grants totalling £5.200 during the year. Eton Information Centre is a college owned property provided rent free. Eton Information Centre received grants totalling £5,000 during the year. Eton Porny occupies land and buildings owned by the Eton Paris Educational Trust which are in use by the institution free of rent. Eton Porny received grants totalling £4,509 during the year. li