REGISTERED CTrL4RITY.YU.MBER: 296368 Repon of the Trusiees and Unaudil¢d Financial Sfaiements foi the Year Ended 31si August 7024 for Sir Joseph Willionwn's chanble TnLSI Bcak Kcmmenoe Cbarl¢r¢d Acroununts 1-3 Manor Road Chatham Kent ME4 6AE
Sir Joseph Williatnson's Cbariuble TnLSt Contents of the Financial Sts1ellnts for ihe Year Ended 31st August 2024 Page Reference and AdmiThistrdiive Detatls Report ofthe TTuslees Staten*nt of Trustees. Rtsponsibililies Independent Examin&s Report Siaiemeni of Financial A¢iiviiies Balaw¢ Sh¢¢t Notes to the Financial Stalclncnts 9 to 17
Sir Joseph Willia]nson's Ctwitable Tn1 R¢l¢ren¢¢ and Admim"Styaiie D¢tails for the Year Ended 31si AugusT 2024 TRUSTEES R J Race Chairnrt l M¢Leod ic¢ Chairnpn MWDodd The Very Ei•'erend P Hesk¢th D¢aTh of Rochester Caiherdral S Brivio S Gurteen G Halls (Jppointed l 3.5.20741 P Hamilion lappoinied 3.7.20?41 PRINCIPAL ADDRESS l Ma)mard Place Chatham K¢ni ME5 7HD REGISTERED CHARITI. YLNIBER 296368 II%DEPLYDE.%T E111*ER Beak Kcmmenoe Chanered A¥countsms 1-3 Manvr Road Chatharn Kent SOLICITORS DGB Solicitors LLP The Captaln's House Central A%enue Pembrok¢ Chatham Maritime Kent ME4 4UF I'EsT}IENT ADN'ISERS Ravenscroft The Singing Men's Chanthrs 19 Min51er Prerincts Peterborough PEI IXX Page I
Sir Joseph Willianwn's Charitable Tru RerM)rt of the TnLeeS for the Tr"ear Ended 3 1st All8 2024 The Irusiees present their rqx)rt 'Ith the finan¢ial statements of the charity for the year ended 3151 August 2024. The ¢Nsiees have adopted the PrOlS1On5 of Accounnng and Reporting by Chariiies." Stam¢ni of Recommend¢d Pracrice applicable io charities PTeparing their accowiis in a¢cordan¢e wqih rhe Financial Reponing Standaid applicable In ¢he UK and Republic of Ireland {FRS 1021 leffeciive l January 20191. OBJECTII'ES AND ACTIVITIES Policie5 and objectilies The i)bJ1$ ot'ihc Charitv are, for the benefit ofthe public.. to advance education Ihrou¥h ibe provision of a site in Rochesier for ihe school: and ¢0 advan¢e ¢dcatIon through rthering ihe cducaiion of beneficianes attending ihe School conducted on th¢ Charity'% property by ihe award of pri2es lor oiher suitsble rewyrdi: and to advan¢e educaiion Ihrou8h 8ii'in8 BTants. bursarie4 or oiber paymwni$ 10 beneficiaries who are in need of rinanLial a1¢an&¢ lor io ediLcaiional insiiiuiiorLS aiiended by such bcnefiLiariesl". and in providing financial or other assisianLe lo such benefiiiaries ¢0 a$5is¢ their eniry inio a profession. trad¢ or ¢allin8 or to enable them to ¢ravel Jbroad 10 pursu¢ ih¢ir ¢ducalion: a1 to provide and support ¢duLaiivnal. re¢reaiional or ancillary fxiliiies and service5 for the benefil of the beDeficiari¢s and the inhabiianis of the area of benefil. In s¢iiin¥ obj¢ciives and plarLnin8 fvr a¢tivitie¥ ihe Tnsi¥Ls ha%'e giv¢D du¢ ¢onsideraiiun to 8eneTal guidance published by Ihl Chanij Commission relating 10 public bencfii. inLludLll& the 8uidarhce'Publii b¢n¢fii.' running a charity Ip1121'. Iletlvlils undertik¢n to g¢hi¢v¢ objtclives Th¢ TrusiL¥S hae ioniinuLd iu suppurt the a¥liViiieS of the Sir Joseph Williauwn's Mathnttaiical School. RoLh¢sier I'th¢ School") durin8 the year. This suppon inLluded contributions of £290.(l2023 . £61.5301 during the yeor. Maln a¢tlvltleg und¢rt8k¢D to further tbe Chlrltv's purptsks for ihe publlc bentflt Th¢ rnain purpose of the Charity is the ad¥onLcm¢ni of eduiaiion. In panicular ihc Chariry provide5 special bcncfils for th¢ SL'h(x)I, whi¥h ar¢ kn addition 10 a[ beyond Ihc firtartcial suppon r¢¢eiied by th¢ k.hool frum eentral ¥ov¢rnmLnt. The School is o boy5 grammar school based in Ro¢hesier. Keni. In 2019 the S¢hool joined Thc Lei8h Acidemie5 Trust la Multi Acodemy Trusil. The School is 8c¢essible Iwithout paytmni of fees) ¢0 any boy Miihin ihe Medm'ay Towns who passes the I I plus exatTunation und for Sixth fomi $tudie$ 10 any Y or sirl wryihin the edm'ay who a¢hieve$ a Sulb)e level of a¢hi¢vemeni ai (tCSE. The tacililie5 of the S¢hool Imat)y of w"hi¢h hav¢ been fiulded or partl). funded bv rhe C'harity). $u¢h a5 It5 hall. sports hall. swimming pool. PalliOn and 5yntheiic hockey pii¢h are made ai.oilabl¢ by the School for hirt by the w'ider local community. The School has ¢ommuniiy1irths w'ith other sch[5 in the arc&. The Chariry makes an annual donalion to R¢)¢h¢tr Grammar sch1. ACHIEI'E%IEiT.4%D PERFOR%IAYCE Review of the actLVitie5 The r¢su]Is for the year are set out OTh pa8e 7. The Charity's unrc5tri¢ted fund5 have a balance of £687.363 12023 - £773,960). The ChariW5 erthwTnent fuT$ have a balan¢e of £7.522,15712023 £7.224.4241. Total 8rant5 payable in the year ended 31 Augurt 2074 amoLmied to £290.?). compared to £61.750 in year ended 31 Au8usI 2023. Page 2
Sir Joseph Williart%on's Chan"tsble Tnt RepDrt of th¢ TtU51tts for the Year Etmled 3 Isi Au1 2024 FIYAINCIAL REVIETh' Going ¢oncern After making appropriate enquirie5. the Trusttts hai'¢ a reasonable exFttlation ihat rhe Charity has &dequare resources 10 coniinu¢ in operational exisi¢nce for th¢ for¢se¢obl¢ funlre. For this aSon. the) cot)iinue to adopt ihe going concern ba515 Ln preparing the financial 51aleTnents. Reserves poliev Endowment fund The cndowTrLnl fund con$i5ts of the capital accouni aTKI represents the pernwleni endowneni of the foundation. Unrestricted funds Th¢ unresirictLd fund consists of ihe iome aJMI ¢xp¢nditure a¢¢owii, thI¢h reprwnts (h¢ amounts available for general purposes ai ihe discretion of the Tnjsttts. Surplus unrestricted fiJnds are irhvested achieve a remrn while addiiional opporn]niiies io funhcr th¢ Ch8ri¢Y$ obje¢iii'¢s arc considered. R¢vrve fund policy ThL re%eTrLS of IhL Charity are the resources thai are ivailable 10 Spend on the Charitys objectives once all commiimL'nis have bL'n mei and planned expendÈiure co%ered. They do TKsi in¢lud¢ the endowTn¢ni funds a$ ihes¢ have its bc rciainld In iheir entirely 10 ¥cniraie fulure incom¢ now$. Th¢ Chariiy's primary obj¢¢iÈv¢ is 10 provid¢ special b¢n¢fits for the klh)ol ihai are rKTrt Th)rn¥1ly provided by Leniral government. As a r¢suli. Ih¢re is nL)I nonnally any reqiremen1 for the TTusiee% 10 3ccumulaie reserves and IhL TTUSIL'L5' puliLy Ihai Ihey should noi fall loW £?O,O(N). This WLII allow th¢ Charity 10 provide ¢onsisi¢ni fijnding for Ihe School whilL allowing for variaiion in lh¢ Chariiys oih¢r inLome and exp¢ndiiure. STRUCTL1RF.. GOVF.R.NANCE AND %1A.NAGE%lET Goi'ernlng do¢umtnt Sir Joscph William50n'5 Charildble Trust is ¥overned by a Sche of thc Iloard of Education dalLd 3 frebruary 191n as am¢ndLd by SL'hLm¢$ of 26 Jun¢ 1912. 8 May 1915. 25 January 19?1. 5 No%emb¢r 1921. 10 Febry 1932 and 19 Trlbrudry 1998 4$ amcnded by Spe¢ial Resoluiions dated 14 November 2W5. 30 Marth 2011, 5 Now¢mbcr 2012 and 10 January 2023. ,Method5 of appoinimeni or elettlon of Truslets Lpon th¢ o¢iurr¥n¥i of a tralay, th¢ Trusi¢¢s shall ¢ause a no thereof io be eniered in their minute book ai their nexi tne¢tin¥ and in Ihe case of a Nacancy in the olTILe of %onunated Tru51ce shall cause notice thereof to bc 8iveTh as soon as pos$ibl¢ to th¢ prop¢r app)iniing Ix)dy. ADY ¢ump¢t¢ni Twsie¢ may be re-appointed. OrgAnlsgtloDal structure and der151oD-m3klng pollcl¢s The bod) of TruslLe5 shall fOttSL51 of S¢ell iomsxicnl p¢rsorts. Th¢ Trustees shall ask ¢a¢h of the folloMin8 bodies to notrunatL one person (w'ho May be but doe5 nol have 10 be a rncttthr of the &p)inting body). to be a Tru$tLe of ihe Chariry.. The Dean and Lhapler of Rochester Caihedral. in the County of Kem: The Trustees for the time oftbe Richard Waits CtrÈan"ry,' The Wardens atMI Assist3nts of the R(Khe5ter Brid8e. in the County of Kent.. Medway Coun¢il.' aNt The Old Williatwnian Club. Co-opi¢d Tnle¢s.. Not rnor¢ than three at the di5cr¢tion of the Tru5tc¢s. The names of ihe Trusie¢s. who s¢ryed during ihe financial year. are shoMTr on page l. A TTUStee5' Co1ttce has been formed which makes recommendaiions to the main body of TnL51ees and all decision5 are rattfied at 1{ meetings of the Trustees_ Page 3
Sii. Joseph 11-illkimioll i Chariiable Truil Rewrt ol-the Truiiee tor the l'ear End¢d i151 .4u.OUst 7074 s'rRLiC'TlIRF., GOI'F.RN'4NCF..AND 11.4j.4GF_IIE)iT PDIiLSC$ gdopt¢d (or thc indLSetion And ¢r¥inino of Trusici All Ttu*lLLi arc cncouragcd li) aLILrtd Irainirtg tnurses and icmin2r% i)n a rksulai basis. Ni14. ari 8iNcn full dildili of Ihe Charity and ari ¥ftLourigL ro aN¢Thd EKTrard ETKLiings re¥ularly ro w'id¥n t.1T undif5randing of thi wurk ol L]ie Charity. Rlsk mAnagemtnt The Tiusiets hai"¢ assesS¢d Ihe nmjor >trdt¢gi¢, buiin¢si and operaihonal risks whiih the Charity mav faLe and reN'iew risks on a reiwlar basis. The TrUeeS confirm tht s>"srtms have been established ro enable Tegular reports to be produ¢ed o that neiesiary sr¢ps Lan be Idken lo mitl¥alv Ih¢s¢ ris.. Pl#n$ for future perlod$ Th¢ Chariiy ill Loniinu¢ lo pursu¢ its rnain aLIiSLlies as ouilbn¢d in pa¥e 2. Apprui'ed by ord¢r ol'the board of (n]biees on............-......-........ . &nd sigmed on its. behalf by.. RJRace-Tru tce Pa¥e 4
Sir Joseph WillianLson's Charitable Trst Stsiennf ofTruMees' Re5POn5ibilities for ihe Y¢ar Ended 3 1st Aug( 2024 The trStee5 are resw>nsible for preparing the Repon of ihe Tt$ and the finan¢ial Ststents in a¢¢ordance with applicable law and Dnited Kingdom Accounting SLqndards IbnÈEed Kingdom Generdlly Accq)¢ed Accounting PTacii¢el. The law applicable ro charities in EnglaTKI atKI Wale5. the Charitie$ Act 2011. Chariry (Accounts and Reponsl Regulations 2(H)8 and rhe proi'i5iOTLS of the trusi deed requiTes the trusiees io prepar¢ financial statemcnis for each rinancial year which giv¢ a inLL' and fair Vie of the stsie of affairs of the charity and of the in¢tsming Tesour¢es and applicalion of resource& including the income and ¢xp¢ndiLur¢. of ihe chariry for thai period. In preparin8 those rinan¢ial siai¢m¢nis. the Irusiees are required to select siiiiable accountin¥ policies and ihen apply ¢hem ¢onsisn¢ly,' ub%erv¢ Ih¥ mLThthods and ptlPleS in the Chariiy SORP.. make judyeTnenlb ar e%iimaie$ ihai are f¢asonabl¢ and prvdeni.. prepare ih¢ financial stalennts on the 8OLn8 corKem basis unless it is inappropriaie io presume thai the Charity will cuntinu¢ in business. The Iru51ees are responsible for keeping proper a¢couniing re¢ords whi¢h disclose Mith reasonablc accuracy at any lime lh¢ finanLial position of Ihe charity and ILI enable ihL'm Iv ¢nsure Ihai ih¢. flnancial stai¢mL'nis ¥oniply lh¢ Charities ALI 2011. lh¥ Charity IA¢¢ounis and Rew>rtsl Regulations 2008 and the pro%'i5ions of the Ift¢ dL¥d. They ar¥ also responsible for safe8uari5in¥ the &$seis of lh¢ ¢harily and heNe for iakn'ng reasonabl¢ sieps for the prevention and dei¢¢iion of froud and oth¢r irregularitie5. Page 5
Independent Examinerfs Repon io rhe Trlee$ of Sir Joseph Williamson's Charitsble Trnst Ind¢pend¢nt examiner's rert to ihe trusttts ofsir Joseph Willi8rn50n'5 Charitable Trust I repon io the charity tru51ees on e.¥aminaiion of the accounts of Sir Joseph Williamson's Charitable Trusi (the Trust) for the >'ear ended 315t August ?0?4. Responsibilities #nd baSR5 of report As the charl. trust¢e5 of ihe Trusi j'ou are responsible for the prepamion of the account5 in accordance with the requirement5 of the Charities Act 2011 ('Ih¢ A¢t'l. I repon in respect of my ¢KlinaTIon of the Tnjsi's accounts carried oui under Section 145 of the Acl and in carrying out my examinatLOrt I have followed all applicable DI¢110n5 given by the Charity CommL$5ion under Section 14515Mbl of the Act. Independent ¢xarniner'$ 5tatemenl I hav¢ completed m). examination. l ¢onfinn th no mawial matters have ¢ome to my atteniion in conn¢¢tion with the examination giving me callse to believe thai in any Meal respe¢¢= accounting records were not kept in resr¢ct of the Tn as required by S¢¢iion 130 of the Aci.. or Ihe accounis do noi accord with ¢hos¢ records.. or the accounts do not compl). wilh ihe applicable requirements concerning ihe forni and conient of accounts set out in the Chariiies (Accounls and Reponsl Re¥ulations 2008 oiher Ihan any requirement that the accounts give a true and fair view which is not a matter considered as pan of an independent examination. I have no concerns and have Come across no oiher mallers in ¢onne¢tion wilh ihe examinaiion io which atteniion should be drawn in this report in order lo enable a proper understanding of the accounts be reach¢d. Natalie Harrison FCA FCCA CTA TEP Beak Kemrnenoe Chartered Accountants 1.3 Manor Road Chatham Kent ME46AE I Ith November 2024 Page 6
Sir Joseph WilliatLwn's Charithble Tr1 Statement of FinatKial Activities for I1 Year Ended 31st August 2024 20?4 Toial fiJnd5 2023 Total fijrtds Uwesuicied fund Resin¢ted fid EndowThent Notes IYCONIE AN'D ED0%1,lETs FROM Donaiions and ILgacics Investmetlt income 208.489 208.489 223.277 Tolsl 208,489 ?08,489 228.277 EXPENDITURE ON Raising lund 3.892 25.634 29.526 29.497 Chxritable activitie5 321.042 83,031 Totil 3?4.934 25.634 350.568 112,5?8 Nei ¥ain¥lllossesl on inveslmenis 29,848 3!3.367 353.215 1279.3061 NF.T II%COM&IIF.XPF.YDITL KF.) {86,5971 297.733 1163.5571 RF.CONCILIATIOP4 OF Toial funds broughi forivard 773.960 7.224.424 7,998,384 8,161,941 TOTAI. FLIYDS CARRIFD FORWARD 687.363 7.522.157 8,209.520 7,998,-184 The noies forTll part of these finatKial 5[arenTr Page 7
iT Jos¢ph Il's11iamson's Charilable TnLNt Ba1ct Sheei 315t Aul>l 70?4 ?024 Tot31 lund). linrLSITiCted lund Resiriei Endi)IllL.nt rund TOL41 Note.% FIXF.D A%SF.TS TanniblL a5iLts Ini"estfflcnts 12 6.293 6.793 6,293 &H.480 4.iOi.864 4,948.344 3.21 ?.000 4.753,3?6 3.212,0Th) Ini'estineni propcrty 14 644.480 7.522.157 8.166.637 7.971.619 CURRENT ASSETS Debiors Caih ui bdnk 3.594 44.110 3.594 44.110 2.407 30,751 47.704 47.704 33,158 CREDITORS Amount% falling duc wiihin onc year 16 14,8211 {4.8?1 16,3931 rF.T CURRF.iT ASSF.TS 42.883 4?.883 ?6,765 TOTAL.4SSETS LESS CURREYT LIABILITIES 687.363 7.522.157 8.209.520 7,998.384 T.4S8ETS 6x7,363 7,5?! 157 ?09.570 7.998.184 UDreslri¢t¢d fiLnd5 Enduwineni lunds 687,363 7.522,157 773.960 7.2!4,414 TOTAI, FUNDS 8,209,520 7.998.384 The tirtancial staiLments were appn)vcd by thc Board of TTUStccs and authorised for LS5UC . and were 5L8ned on its behaifby.. on RJRa¥¢- Sl¥¢ The noies fonn pan of ihese filyncial SL7temems Pa8c 8
Str Joseph IVilliaTThson's Charirable TnLS1
Noies to the FiDancial Staiemenis
for the Year Ended 31st Allgust 2024
GENEIL4L INFORMATION
Sir Joseph WillranL8on's ChaTilable Trust I'ihe Charity'l is a chariry and is IrOrpOted it) England and Wale5
with the regisirnrton number 296368. Th¢ address of the rcgisiered oifice is showih on page l.
ACCOUNTI.TrG POLICIES
B15is of prep3rin% the fiA8n¢tal $titemtnis
Th¢ firtaniial siaiern¢nt5 of tht iharirv. h1¢h is a public benefir eniiry under FRS 102. have been prepared in
accordance with the Charities SORP IFRS 10?) 'Accouniing and Reportin¥ by Charities.. Siaiem¢ni of
Reeomm¢nded Pracii¢e applicable io charilies preparirkg iheir accounts in accordanc¢ wilh the Fintsncial
R¢piirting Standard applicable in the L'K and Republjc of Ir¢land IFRS 10?) leffeci)N'e l January 20191,.
Financial Reportins Standard 10? Tk Financial R¢poning Stsndard applicable in ihe UK and Republic of
Ir¢land' and the Charities Aci ?01 l. The financial siaiernents hak¢ ¢ PTeparcd under the historical cost
conveThlion. with th¢ ¢x¢eption of invesinKnts which are inclwjed ai maTkei value.
The financial stalemenls have been prepared 10 give a ond fairf view
Crltlc#l 4tcountin8 judgernents and k¢> soyr¢es of estlm•¢lon ¥n
Sir Joseph Williamson's Chan"tsble Trust Notes to the Finwial Sraments- ¢ontinued for the Year Ended 3 Isi AuguM 2024 ACCOUNTl%I C POLICIES- continued Expenditure Expenditure on chantable act1tieS is incurred on directly utKl¢rtaking the aciiviiies which fiuther the Charity's objectives. as well any &wiad suppon costs. Grant5 payable are charged in the year wh¢n the offer is made except in those ¢ase$ where the offer is conditional. such grants b¢ing recognised as expendityjre then the condiiions attdchins are fiLlfill¢d. Cjrants oITeied subJc¢i 10 condition$ which have noi been mei ai ihe year end ar¢ not¢d as a commitment. but noi accrued as expendiDJre. All expenditure is in¢lu5ive of irr¢cov¢Tabl¢ VAT_ Interest rtteivable Iniere¥i on fund% held on deposil 15 included when reeeivable and the anN)uni ¢an b¢ measured reliably by the Chariiy. this is nornally upon notifi¢aLion of th¢ ini¢re$i paid or payabl¢ by the ins¢ilulion wilh whom IhL. fijnds are d¢posiied. FlnAn¢l•l In$truments FiKLd us%el investrn[S are 41 forni or rinancial insinLm¢ni and are injljally r¢Lognised ai ihcir transaction cost and $ub¥¥qu¢nily m¢asur¢d ai fair valu¢ ai the Balance sheel d31e. unle55 ihe valuc cunnol be m¢asuT¢d r¢lia61y in h1¢h Lase li is m¢iisur&d ai cost less irnpairn)ent. Quoied mark¢i pri¢¢ is ¢onsid¢T¥.d fair value. InvcslmLnl 8ains and losyes. w'h¢iheT r¢'ali¥¢d or unrealised. are pres¢nied as 'GainOllossesl on inve51menLS' in the Statement of finan¢ial a¥iiVItI¢b. Other Ihan investments, the Ch8riry only has fiMnci#l a55ets and financial liabiliiies of a knnd rhat qualify as basil fjnartiial instrumcrtls. Bas2i flnaniial insrrnrnenis ar¢ initially Te¢ognis¢d 81 trJnsa¢iion value and 5ub&Lquenily measuT¢d at their senl¥meni i'alu¢ with the ¢xrepiion of bank loans which ar¢ subsequenily m¢Jbur¢d 01 omoniscd cosl u51n8 Ihe cffeciiie interc51 meihiyj. Tinglble flxed g$seiJ The L)ri¥inal frc¢hold land and PrOniC5. bein8 the sch1 laTrJ and buildu$, have been included ai a rtominal value of £1. Subs¢qu¢nt addition$ are included at COM. The TnleeS have the opinion thai no deprecianon should be char8ed given the minimttl eawin8 value, the long estirnai¢d use1 life and the large rc51dual value. Dtbiors Trade and other debtors are recogTrised ai the s¢ttlemeni amount after any trade discount offered. PrePanen1$ are valued ai the amount Prepaid of any trade discounls due. C*ih at bgnk And In han Cash at bank and In hand includes cash and short-trnn hL8hly liquid ini'estmenis wth a short mhturity of three monihs or less from th¢ date of a¢quisiiion OT opening of the dep051t OT sinular accounl. Llabilltles and pro%'i$ionJ Liabilities aT¢ r¢¢ogn15ed th¢re is an oblL8ation ai the Balance sheet dale as a resuli of a pasi event, it is probable thal a transfer of economic benefli will be required s¢rtlem¢nt. aThJ the o¢Tr)un¢ of Ihe 5ettlemeni ean be estimated reliabl>'. Liabilities arc reco8ni5ed at the amount thai the Charity anticipates 1¢ will pay io sett]¢ thr debt or the amount it has received as advanc¢d pajments for ihe goods or ser¥'ic¢5 li must Provide. Pa 10 eontinued...
Sir Joseph Williamson's Charitrble Trust Notes to the Financial Statemenrs- eoniinued for the Year Erthd 31si August 2024 ACCOUNTtYG POLICIES- tontinued Liabilitie5 and proiisloni ProN'ision5 are measured at the best t7Mate of the a[unts rcquired lo settle the obligation. Where the ¢ff¢ci of (he time &alu¢ of money is material, th¢ provision is based on the preseni ialue olihose amounis. discounted ai the pre-tax discount rdle that reflcrts the risks specific to the liabillry. The n1ndIng of the discount is reco8Thi5ed in the Starement of firnCIal acti11e5 as a finance cosi. Fund actounting EndobNThenl funds Tepresent the £5.(KK) bequeathed from Sir Joseph I.11118[TLWn in IL1$ lasi wll and lestamcnl in 1701 for buildin8 and carying on and perpetual rnaiThiaining of a trcc sch1 ai Rochesier. These ¢apital funds have be¢n invesied in propeny and listed ini'estments at)d cannni be spent. The gains and losse$ on the sale or rei'aluaiion of these invesiTnents are credid or thar8ed to erMtoWryTTrL funds along wilh the costs of maintaining lh¢ share FM)nfolio. General fi]nds are unresiricied funds which are available for use at the diKr¢iion of Tnjstees in fiJrthttan¢e or th¢ gcneral obJ¢¢iiv¢$ of the Chariiy and which have not brt de$igll4id for other purw)s¢s Thi% includes the invesimenl incotne releived from the endowryneni funds. Accurnulaied unr¢siricied funds hav¢ b¢¢n invested whilL Oppor711&5 fvr furth¢rJng lh¢ Lharii} s ubJilivcs arc LOti5idcr. Inve¥imcnl inLL)mc. ¥3ins and10sSe5 arc alluLated to the approprialc fund. DOYATiofS AND I.EGACIES 2024 2023 Donations 5,000 lTrIVESTlETr4T CO%IE 2024 2023 Reni Income frorn listed inVestnIS Bank in1¢re receivable 46.479 161,329 681 49.R42 17J,154 281 ?08,489 223,277 Pagell coniinued...
Sir Joseph willia.5 CharL"tsble Tr81 Notes to the FiTwl31 Statements- continued for the Year Ended 315r Au8usi 2024 IL41SJNC FLryDS Raising donations and k%8ties 2024 2023 Invesimeni managemen¢ fees 29.526 29,497 CHARITABLE ACTIN'ITIES COSTS Grdnl fijnding of a¢tivitie5 (see noi¢ Direct Costs Is¢e ntsie 71 SUp)rt cosls Is¥Y note 91 Totals Charitable activities 21.586 ?90.2(KJ 9.256 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 InsuranL¢ PTOP¢Try repairs PTufLS5ional tCLS Commisbion¥ payabl¢ 3.391 5.036 9.400 3.759 2.R77 1,010 3.120 4.325 21.586 11.332 GRANTS PAYABLE 2024 2023 GTanis paid lo Sir Joseph WilliatfLwn's Mathemaiical School Grants paid 10 Ro¢hester fjTamm8r School 290.000 200 61,550 21>0 290.200 61.750 The grants paid to Sir Joseph Williamson's Maihemaiical School include £21X).IKK) for the Tennis atxi Netball Project wilh the remaining £90.(XK) being the Schth)I's amiual grant. Pa8e 12 continued...
Sir Joseph willialOn'5 Charitable TnLSt Note5 lo the Financial Sthments- contirjued for the Year Etmled 3 Isi August 2024 SUPPORT COSTS 2024 2023 Sundry expenses Clerk's fees Independeni examinels fees 103 5.313 3.840 25 5.250 4,674 9.256 9.949 The indendnI euminews f¥YS represeni the anwts payable for the preparalioTh of the a¢¢ounts and perforning an indepeTLdent eKanunation. 10, TRUSTEES. REILERATIoN AYD BENEFITS Thcr¢ w¢r¢ no tnLslets' remun¢rnlion or oth¢r benefits for the y¢ar ended 3 Isl 2024 nor for the year eThlcd J Isi Augu 2023. Truiiee$' expenses Th¢ri were no uwiee$' expenses paid for th¢ year ended 31si Augu$1 2024 for the year ¢nd¢d 3 1st Au¥ust 2023. co[PlRATIVEs FOR THE STATEIIE%TOF FIN.4%CIAL Acfii'iTIES LnrL¥iri¥ied RL'sirhiicd Endownertt fijnd Total funds IPCOIIE A.YD EYDOM'IIEYTS FROM Donations and legaiies 5,0(KJ lrtvesimertt income 223.277 223,277 Tolil 228277 228,277 ExPE.DITURE O Rai5in8 fund5 3.855 25.642 29,497 Charli4ble *¢dlIeS Charitable a¢iivLIi¢S 83.031 83.031 Total 86.886 25.642 112.528 Net gains (losses} on invesrrn¢ni$ 125,257) (254.049} {279.3061 IET IP4COMI EIIEXPEINDITLREI 116.134 {279,6911 1163,5571 RECONCILL4TION OF FLNDS Total funds broughi foThvard 657.826 7.504.115 8,161.941 Page 13 conisnued...
Sir Joseph Williamson's Chan"thble Tnj Noits ro th¢ Fina1a1 Srat¢m¢nts- coniinued for the Year Ended 3 IM AugLW 2024 COI¥qPARATIVES FOR THE STATEIIENT OF FINAYCIAL Acfi%'iTIES- ¢olltSnued Unresiricied Resrricted EndoMTneni fund Total fwids fvnd TOTAL FL'NDS CARRIED FORW'ARD 773.9fA) 7,224.424 7.998.384 12. TANGIBLE FIXED ASSETS Freehold property Ai l %1 Sepiember 2023 and 3 Isi Aygusi 2024 6,293 I'ET BOOK N'ALUE AI 31 si Au8usI 2024 6.293 Ai 3151 Augu$1 2073 6,?93 The original fr¢ehold properties are Iniluded ai £ l and Ctsmprise ihe school land and buildings. which are held in fvrth¢rani¢ of lh¢ Charity's objeclives. Subsequ¢nl addiiions ar¢ in¥lud¢d at ¢osi. 13. FIXED,tSSET INVESTIIENTS Cash awaiiin investmcni Listed in%"¢stm¢nts To¢als IARKET I'IlLb'E Ai I 51 Scpicmbcr 2023 Addition> Dispu¥al$ Revaluation Wiihdrawn in excess of income 4.660.382 1.205.883 11.371.660) 353.215 92.944 11.205,8831 1.371.660 4,753.326 353.215 1158,1971 1158,1971 At 3 1st August 2024 4.847,820 100.524 4,948,344 NET BOOK I"ALUE Ai 31$1 August 2024 4.847.820 11)0.524 4.948.344 Ai 3 1st August 2023 4.660.382 92.944 4.753,326 Page 14 continued...
Sir Joseph WilliatThson's Charitable Tnlst Notts to the Fin3ncial Staiernents- continued for the Year Ended 31st August 2024 INVESTMENT PROPERTY FAIR VALLE Ai I si Sepi¢mb¢r 2023 and 3 1st August 2024 3.212.0(M) ET BOOK I'AI.UE Ai 3 1st Augusi 2024 3.212.000 AI 315t August 2023 3.212.000 The Charitls inv¢sim¢nt propcny ponfolio was revalued as ai 30 June ?0? I by BaK Thomas French Ltd. The Ttte$ have incorpoTaied this valuation inio ihe finarKial staleThnts and b¢li¢v¢ Ihai Ihe values incliidcd continu¢ ro be reasonable. Thc ori¥inal Lost of Ihe freehold in%'estm¢ni prop¢rti¢s was £29.104, with an x¢umulaied revaluation surplus lo 31 August 2024 of £3,182.896. 15. DEBTORS: AMOUNTS FALLING DUE WITHIN O%E YEAR 2024 2023 Trade debiurs Oth¢r d¥bivrs and PT¢payTri¢nis 2,407 1,187 2,407 3,594 2.407 10. CREDITORS.. AIIObNi TS FALLIYG DLE M'ITHIY O%E YEAR 2024 2023 A¢cruals ond deferred income 4,891 6,393 17. MON'ENIENT Ili FUYDS Ncl movement in fund5 At 31.8.24 At 1.9.23 Unrestrleted fuDds General 773.960 186,5971 687.363 Endow'mtnt funds Pernianent endowTnent fun 7224,424 297,733 7,522,157 TOTAL FL Tr4DS 7.998.384 211.136 8.209.520 Pag¢ 15 Continued...
Sir Joseph WillianLS011'S Charr"tsble Trst Note$ 10 the Financial Sthiem¢nts- continued for ihe Year Ended 3 1st August 2024 17. MOI'EMEYT JP FUYDS- ¢otstinued Net tnovenKni in funds. included in the abol'e Are as follows.. Incorning Resow¢e$ expended Ciains and losses Movement in funds Unre5trlcttd funds CJ¢nLral fvnd 208.489 1324.9341 29.848 186.5971 Endomeni fund$ Pirnunenl end0Tnen[ fiMLds 125.6341 323.367 297.733 TOTAL FL TriDS 208.489 1350,5681 353,215 CompAratSve$ for movtmenl In funds Nel nM)vemeni irt funds Ai 31.8.23 At 1.9.22 Unr¢$trl¢ttd fynd5 G¢n¢ral tund 657,826 116.134 773.960 Endo*ment lunds PLnLnt LndowThcnt funds 7J04.115 1279.6911 7,224.424 TOTAL FL Tr4DS 8.161.941 1163.5571 7.998.384 Comparative net nKJ%'emeni in fund& included in the ab)ve are as follo.. Incomin8 resource5 Resources expended Gains and losses Movemeni in funds Unre51rlcted fuDd5 G¢n¢ral fund 228.277 186,8861 {25.257) 16.134 End0ment funds Pem)atten¢ elldowm¢nt 125,6411 1254,(H9) (279,6911 TOTAL FL,NDS 228,277 1112.5281 {279.3061 (163.5571 Page 16 contiThued...
Sir Jokpb Willia[$0n'S Charitable TnLSt Notes io the FiTthncial S¢aretTKnts- continued for the Year Ended 3 Isi August 2024 17. MOVEMENT FUINTIS- ¢oniinutd A ¢UTrent year 12 month$ alld prior yeat 12 months combined positioTh is as follovs.. Net movement in fimds At 31.8.24 At 1.9.22 Lfnrestrlct¢d funds General fund 657.826 29.537 687,363 End0ment fund5 Pemuneni ¢ndowm¢ni thnds 7.504.115 18.047 7.522.157 TOTAL FLTNDS 8.161.941 47.579 8,?09,520 A ¢urrent year l ? months and prior y¢ar l ? rrnnihs Combined nei nKkwemeni in fijnds, included in ihe above are as fullL)WS'. Imoming resources ResouKes expcrwkd Gains and losses Movement in funds Unrestrlcttd fundj G¢n¢r41 fund 436.766 1411.R201 4.591 29,537 EndonKni fund$ Plrrnaninl cnd()W1nini rtd5 (51.2761 69.318 18.042 TOTAL FLIYDS 436.766 1463.0961 73.909 47.579 RELATED PARTI. DISCLOSURES The Charity has not eniered inio any relad pthy tt8nsactson durin8 the y¢ar. nor are there any outstanding balartccs owing ¥¢¢Th lated partie5 and tlK Charity ai 31 August 2024. Page 17