QUEEN ANNE'S SCHOOL GEliERAL CHARITABLE TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 Charity Registration Number: 296618 QVEEf+J ANNE'S SCHOOL GENERAL CHAKITABLE TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 CONTENTS Page Reference and admini5tTative details Tru5tees' report Independent auditor's report Statement offinancial activities Balance sheet Notes to the accounts QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST REFERENCE AliD ADMJNISTRA TJVE DETAILS FOR THE YEAR ENDED 30 JUTrIE 2025 Trustees R F Penfold D ChaTle5 J Ivey Seeretary R Patton Principal address Queen Anne'5 School Henley Road Caversham Readinb RG4 6DX Charity re%istrAtion number 296618 Independent Audltor Haysmac LLP 10 Queei) Street Place Ltsndon EC4R I AG Principal banker Barclays Bank plc Leicester LE87 2BB Investment managers CC.LA Invc%tmcnt Managcmcnt Limitcd Onc Angcl Lane London EC4R 3AB Schroders Investsnents Litnited l London Wall Place London EC2Y SAU Sarasin Investment Funds Liinited Juxvn Hvuse 100 St p￿u1'S ChurLhyard Lundon EC4M 8BU QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUTr4E 2025 The Trustees present their statutory report with the accounts of Queen Anne's School General Charitable Trust I'the Trust"} for the year ended 30 June 2025. The aLcounts- liave been prepared in accordance with the aL¢OUllting ptsliLie5 Set out page5 9 to 10 of the attached aLcounts and cojnply with thc charity's tni%t dccd. thc Charitics Act 2011 and Accounting and Rcporting by Charitics.. Statcmcnt of Recommended Practice applicable to Charities preparing their a¢¢ounts in a¢cordan¢e with the Financial Reporting Standard applicable in the UK and RepubliL of Ireland (FRS 102 - SeLond Edition). effective for aLLounting years commencing oil I January 2019 or later. GOVERNANCE, STRUCTURE AND MANAGEMENT Status The Trust is a registered charity, number 296618, governed by a deed dated 22 Febrnary 1983, as amended in June 2019. Charitable objective The Trust's objective is the furtherance of any charitable purpose connected with Queen Anne's School I'the School"). This object is being fulfilled by the provision of bursaries for pupils attending rhe SchoLII and by the provision of financial suppon for various fundraising events and othei items. In niakinb decisions about the way in wliich the rtust fulfi15 It5 object, the Trllstees have had due regard to the Charity Conimission's public benefjt guidance when exercising any powers or duties to ,hich the guidan¢e is relevant. Organisatio The Trust is Ihe responsibility of ihe Board of Trustees. The following served as Trustees since l July 2024.. R F Penfold D Charle5 J Ivcy There are no employees of the Trusi. Risk management Thc kcy risk% facing thc Trnst arc a$sc.￿￿Cd and discu88cd at pcriodic Tru8tcc%' mcctings. Tru8tCC8 ci)nsidcr thc 8tability af income yield on their investments the largest threat to the Trust's ability to meet the funding commitred to the srudents of the School. By regulai InonitOFing of the inve5tinents, tlie Ttustees airn to mitigate this Ii5k. Related charitie5 The Trust ha5 close litd(s with the School and with the United Westminster and GTey Coat Foiindation, a charity registered in England and Wal¢s. rcgistration numbcr 1181012. Transactions with 2nd amounts du¢ from thc SchoL)l ar¢ discloscd in not¢s 4, 6. 7 and l O to the accounts. lThvestment Policy Except for the £5 pennanent endowment. the Red Cloak Fund, the White Fund ￿]d the Dr CeLiI Jone5 Fund and where appeals are launched to suppoff specific items, the Trustees ha￿e the discretion to manage the assets of ihe Trust as appropriate to meet the Trust'b objeLt. The Trustees Teview the investment puliLy and holdings annually. QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST TRUSTEES, REPORT (Contlnued) FOR THE YEAR ENDED 30 JUNE 2025 REVIEW OF PERFO￿L￿NcE FOR THE YEAR ALYD FUTURE PLANS f)uring ihe year the Trust funded bursaries and pri7.es to pupils ai ihe School amounting to a total of £1 10,00012024.. £65,088). to a5S15t in tlie furtherance of theii education. The appeal to provide fund5 for the ¥Feneial beiiefit of tlie School continued. The R¢d Cloak Fund appcal eontinucd to providc fi]nding for tran%formational bursaric% for ￿[UrC pupils at th¢ School. Jn addition to school fees it ivill cover, if needed, extras such as unifomi and school trips. The long-terni aim is to continue to appeal tor support for thi5 substantial Fuiid from fotmer pupils. parents and others with EL Lonnectiun to the School, and for the provibion of bursaries to be expanded as Jnuch as possible. The fjrst recipient of a Red Cloak Award joilled the School in September 2019 and continu¢s to makc v¢ry good progrcss. A sc¢ond R¢d Cloak Award was madc in 8¢pt¢mb¢r 2021 and a furthcr A￿ard was Inade in Septeinbei 2022. The current student receiviiig Red Cloak bursary lui)ding will complete their education in suminer 2027. The Trustees plan to continue rhe existing activities of the Trust for the foreseeable furure. During the year. the Trust paid a grani of £72,500 to the School for the White Pavillion Project. As noled in the accounls, the Trusi holds certain funds ab agent on behalf of the Seh(H)I, principally conbisting of the School's developinent appeal monie5. Specific iteTns requiring support in the future will be kept undei reyiew. Trustee5 Colltinue to claim Gift Aid on donations where pos%iblc. FINANCIAL REVIEW Results for the year A Suminary of the results for the year can be found on page 7. Totsl income H'as £97,78912024'. £297,-336). Expenditure was £185,10512024.. £91,201). Tiiis iiicluded butsai.ies to the School of £1 l O,(X)012024-. £65:088), grants direct to indii'iduals of £2,500 (2024.. £1,000), a capital grant to thc School of £72,500 (2024.. nil) and admini%trativc cxpcnsc% of £105 (2024.. £25,113). Net losses on investments were £60,89312024.' gains of £224,851 l. Overall, funds decreased by £148.20912024'. increased by £430.986}. Reserves policy Reserves in tlie general ￿nd are lield to COVeT fu￿re expenditure and to maintain sustainable bursary grants to tlie School for the foreseeable furure. The Trust's investment holdings generate incorne which is used to fund the Trusr's activities. PinanciAI position At 30 June 2025. unreslricled general fundb were £2.092,941, restricted funds were £l,113.685 and permanent endowmenl funds were £5- see note S for inore details. Tl)e Tiustees coitsiderthat tl)is level orrree reserves provides the Tiust with suflicient nds to enable it to meet its obligations OVeT the next 12 months at]d to meet the policy objectives outlined above. StAtement of Tru$te¢$' responsibilities The Trustees are responsible for preparing the annual report and accounts in accordance with applicable law and United Kingdom ALcountin¥ Standard5 {United Kingdom Generally AcLepted ALLoullting Prdcticel. QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST TRUSTEES. REPORT (Contlnued) FOR THE YEAR ENDED 3DJUNE 2025 Statement of Trystees, responsibilities (continued) The law applicable to charitie5 in England and Wales requires the Tnjstees to PTepare account5 for each financial year which giv¢ a t￿¢ and fair vicw of th¢ state of affairs of Ihc Trust and of th¢ in¢omc and ¢xp¢nditUT¢ of thc Trust for that ycar. In preparing these accounts, the Trustees are requiied to.. • Select suitable accounting ptslicieb and then apply them consistently,. Observe the rnethods and principle5 in AcctsuntinbT and Reportinb by Charitie5'. Staternent Of Recommended Practice applicable to charities preparing their accoiints in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). • Make judgements and estimates that are reasonable and prudent., • State whether applicable United Kingdom Accounting Standards have been tollowed, subject to any material departures disclosed and explained in the accounts,. at]d • Prcparc th¢ accounts on th¢ going conc¢rn basis unlcss it is inappropriatc to pr¢sum¢ that th¢ Trust will ¢ontinuc in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accurdcy ai any time (he financial position of the Tn]5t and enable them to ensure that the account5 comply with the Charities Act 2011. applicable Charity (Accounts and Rcport%) Rcgulations and thc provi8ions of thc charity'% tTU%t dccd. Thcy arc al%0 rc%pon%iblc for sateguarding the assets of ihe Trust and henLe for taking reasonable steps for the prevention and detection of fraud and other ItregTularitie5. Signed on behalf of the Board of Twstees Jeff /vey Trubtee 2110512026 Appioved by the Boaid of Ttustee5 Oll.. INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF QUEEN AiYNE'S SCHOOL GEfiERAL CHARJTABLE TRUST Opinion We have audited the f￿ancial %taternent8 of Queen Anne'% School General Charitable Tru%t for the year ended 30 June 2025 which coinprise the Statement of Financial Acti￿l[le.5. Balance Sheet and notes to the financial 8tatements, including a summary of significant accounting policies. Tlie financial reporting framework that has beet] applied in their preparation is applicable law and United KinbTdoin Accounting Stsndarilb, itlLludingF Fin￿)lIal Reporting Standard 102 TheFinanciulRepoi'lingStondard applicuble in lh8 UK ond Republic o[Jreland (United Kin¥doTll Generally Accepted AcLOUllting Practice). In our opinion. the financial statements.. give a true ai)d fail view tsf the state ot the charity's aftairs as at 30 June 2025 and of the charity's net movement in funds tur the year then ended.. have been properly prepared in accordance with United KingFdom Generally Accepted Accounting Practice; and hav¢ bc¢n prcparcd in accordanc¢ with thc rcquir¢mcnts of thc Chariti¢s Act 2011. B3515 for opinion W¢ have bccn appoint¢d as auditi)r undcr sc¢tion 144 of thc Chariti¢s Act 2011 and rcport in accordan¢c with thc Act and ielevant [eg￿lationS Tnade or having effect thereunder. We conducted our audit in accoidance with JnteTnational Standard5 on Auditing IUKI (ISAS IUKII and applicable law. Our responsibilities llndeT those stsndard5 ale furtherdescribed in the Auditor'5 iesponsibilities for the audit of tlie finaiicial statement5 section of our i'eport. We ale independent of the charity in accordaiice with the ethical requirements that are relevant to our audit of the financial statetnents in the UK. including the FRC'S Ethical Standard, and we hai'e fulfilled our othei. ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained 15 511fficieiit and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the f1nancial siatements, we have concluded that the trustees, use of the going concern basis of accounting in rhe preparation of rhe financial siaiements is appropriate. Based on the work we have perfomied, we have not identifjed any material uncert)inties relating to events or conditions that, indii'idually or ¢ollectivel}', may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are auihorised for issue. Our responsibilitie5 and the responsibilities of the trustee5 Wlth respect to going concern are described in the relevant sections of tliis report. Other Informatlon The ttubtees dre i"esponsible for the other infotrniltion. The other infotmation cornprises the infoTmation included in the Trustees. Repvrt. Our opinivn tlie finuncidl stdtements doeb not cover tlie other infvTmation und, except to the extent otherwise explicitly stated in our reporL we du nut express fotm of assur1￿ce COllLlusivn thtreon. In connection with our audit of the financi)I statements, our responsibility is to read the other infom)ation and, in doing so, consider whether the other information is materiallv inconsistent with the financial statements or our knowledge obtained in the alldit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material missiatements. we are required 10 deterniine whether there is a material misstatemeni in the financial statements or a material missiatement of the other infom)aiion. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing io report in this regard. Matter5 M'hich we are required to report by exception We have nothiiig to report in Tespect of the following matters in Telation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, iii OUT opinion.. adequate accounting TecoTds have not been kept by the charity,. or suffJci¢nt accounting r¢cords havc not bccn k¢pt', or the charity finai)cial statemei)ts are not In agreement with the accounting records and returns: or we have iiot received all the infoTmation and explanations we require for our audit. INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF QUEEN AiYNE'S SCHOOL GEfiERAL CHARJTABLE TRUST Responsibilities of tru5tee5 for the financial statements As explained more fully inthe tTl7%tee￿, responsibilities statement, the trnstee% are responsible for the preparation of the financial taternents and for being satisfied that they gil'e a true and fair view, alld for Such internal control a8 the t￿￿tee% determine is necessary to enable the preparation of financial statetnents tliat are free from ]naterial Inisslatenient, whether due to fraud or error. In preparing the financial statenients, the trustees are responbible for assessing the charity's ability to continue as a goii)g concern, disclosing. as applicable, niatters related to going concern and using the going concem basis of accounting unlesb the trustees either intei)d to liquidate the charity or to cease operatitsns. or have no realistic alternative but to do so. Auditor's responsibilities for the Audit of the linancial statements Our Objecti￿e$ arc to obtain reasonablc assurance abolit ￿'hetI7¢r the financial ststements as a whole are free from material misstatcmcnt, wh¢th¢r duc to fraud or ¢rror, and to i&su¢ an auditor's rcport that in¢lud¢s our opinion. Rcasonabl¢ assuranc¢ is a high level of assiirance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will alivays detect matcrial misstatcmcnt wh¢n it ¢xists. Misstst¢m¢nts can aris¢ from fraud or ¢rror and 3r¢ consid¢rcd tnat¢rial if, individuallv or in th¢ aggr¢gat¢, th¢y Could r¢asonably bc ¢xpcct¢d to influcn¢c th¢ ¢conomic dccisions of us¢rs tak¢n on th¢ basis of thcse financial %tatcmcnts. I￿egUlaritIes. including fraud. are instance5 of non-compliance with law5 and regulations. We de5igt] procedures in line with our responsibilitie5. Outlined above, to detect material inis5tatemeiits in respect of i￿e¥VulaTitIes, including fraud. The extent to which our procedures aTe capable of detecting ]￿egUlar1tIeS, including fraud is detailed below.. Based on our understandiiig OF the charity and the environment in which it operates, we identified that tlie principal risks of non-compliance with laws and regulations related to charity law and trust law requiremei)ts over tl)e use of restricted ai)d endowed funds, and we coi)sidered the extent to which noi)-con)pliance might have a material eflect on the financial statements. We also considered rhose laws and regulations that have a direct impact on the preparation of the financial statemenis such as the Charities Aci 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of oi'erride of Controls), and deterniined that the Principal risks were related to posting inappropriate joumal entries to income and management bias in accounting estimates. Audit procedures performed by the engagement team incliided.. Inspecting correspondence with regulators: Discussions wilh management including considerarion of known or suspected instances of non-compliance wilh laws and iegulation and fraud; Evaluating Inaiiagemeiit's controls designed to prevent and detect iTregularities,' Idcntifying and testing joiimal entric.%', and Challenging assumptions and judgements made by management in iheir accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a matcrial misstat¢mcnt in thc finan¢ial stat¢m¢nts or non-¢ompliancc with r¢gulation. This risk in¢rca8cs th¢ Inorc that ¢ompliancc with a laiy or rcgulation 18 r¢mov¢d from tlic cv¢nts and transactions rcflCct￿ in thc fjnancial stat¢incnts, as w will b¢ Icss lik¢ly to bc¢om¢ awarc of instanccs of non-complian¢¢. Th¢ risk is also gr¢at¢r r¢garding irr¢gulariti¢s occurring du¢ to fraud rathcr than ¢rror, as fraud involvcs intcntional con¢¢alm¢nt, forg¢ry, collusion, omission or misrcpr¢s¢ntation. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Coullcil's website at.. www.frc.or .ulJauditorsiEs onsibilities. This description forn]s part of our auditor's report. Use of our report Thib iepuil ib made solely to the Lhaiily's irusiees. ab a body, in acLoidanLe with section 144 ot the Chintieb Act 2011 thd regulations made under section 154 01. that Act. Our audit work has been undertaken so that Tr￿e niight state to the charity's trustees those matters we are required to state to tl)en) in an Auditor's repoit and for no other purpose. To the fullest extent perinitted by laiv, we do not accept or assume iesponsibility to anyoi)e other than the charity's trustees as a body for our audit work, for this report, 01 for the opinions we have formed. HaysMa¢ LLP Statutory Auditor8 Date.. 2910512026 HdySMaL LLP eli¥ible tts aLt ds an auditor in temis of seLtivn 1212 uf the Compdnies Act 2006. s LLF 10 Queen Street Place London EC4R IAG QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST STATEME]%T OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUP4E 2025 Unrestricted Restricted Funds funds Permanent EThdowment Fund Total 2025 Total 2024 Note Ineome from: D()rttilii)ii.I 520 59,153 1,8RO 36,236 2,400 95,389 203,401 92.512 1,423 Oiher Totsl ineomv 59,673 38,116 97.789 297,336 Expenditurc on: Charitable aclivities 1118,267) 166.838) {185,105} {91,201) Total expendlture 1118,267) 166,8.181 {185,105} (91,201) Net (expenditMre)l income before gainsl(losscs) on investments {58.594) (28,7221 (87,316} 206.135 Net {losses)Igains on investments {43,090) 117,803) (60,8931 224,851 Net (expenditure)l income and net movement in funds 1101,684) 146,5251 {148,2091 430,986 Balances brought foTward at l July 2,194,625 1,160,210 3,354,840 2,923,854 Balanees Carried foThard at 30 June 2,092,941 1,113,685 3.206,631 3,354,840 The statement Lif financial activities includes all gains and losses recL)gnised in the year. The notes on pages 9 to 15 fomi part of the accounts. For full comparativc.% for thc Statcmcnt of Financial Activitics scc note I l. QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST BALANCE SHEET AS AT 30 JUNE 2025 2025 2024 Note FIXED ASSETS Jnvt5tnients 3,201,884 2,962.777 CURRENT ASSETS Cash at bank 22.088 457,408 22,088 457,408 CREDITORS.. amounts falling due within one yeaT (17,341) {65,345) NET CURRENT ASSETS 4,747 392,063 TOTAL NET ASSETS 3,206,631 3,354,840 REPRESENTED BY FUNDS AND RESERVES Pcrmancnt cndowmcnt ￿nd Restricted funds Thc Rcd Cloak Fund 1,044.897 32,6(K) 36,188 1,089,969 33,634 36.607 White Fund Dr Ceiil Juneb Fund 13,685 1.160,210 Unrestricted funds General fvnds 2,092,941 2,194,625 3.206,631 3.354,840 The accounts were approved and authorised flir issue by the Trustees on 2110512026 and were signed on their behalf by.. Jeff Ivey Trnstee The notes on pages 9 to 15 form part of the accounts. QUEEN ANNE'S SCHOOL GENERAL CHARITARLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30JUNE 2025 ACCOUNTING POLICIES The principal office of the Trust 15 sli01￿1) on page l of the accounts within Reference and Administrative details. The piincipal accountiiib policies adopted: judgement5 and key souice5 of estiination uncertainty in the preparatioii of the accounts are a5 follows.. Basls of preparatlon The aLcounts. have been pi"epared in aLcordance with AcLounting aiid Reporting by Chatitieb". Statement of Recomrnended Practice applicable to chintieb PTeP￿llg their aLcounts in aLLoid￿Le ivitli the Fitfdncial Reporting Stand￿d appliLable in the UK and Republie of Ireland IFRS 1021 leffeciive l January 2019)- {Charilies SORP IFRS 102- Second Editioiil) and the Financial Reporiing Siandard applicable in Ihe UK and Republic of Ireland {FRS 102). The Trustees have taken the exemption available to small Lharitieb and have not prepared a cabh flow statement. The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stsied in the relevani accouniing policy note(s). Critical accounting estimates and arcas Ot. judgement Prcpardtion of thc accounts may rLquirc thc Tru8tCC8 to makc signifjcant judgcmcnts and cstimat&s. No such judg¢mcnt% or estimates were reqiiired in the year. Assessment of going ¢on£¢rn Thc Trust¢cs havc a&s¢sscd wh¢tlicr th¢ usc of th¢ going ¢onc¢rn assumption is appropriat¢ in pr¢paring th¢s¢ accounts. Thc Trustccs hav¢ mad¢ this ass¢ssm¢nt in rcsp¢¢t a pcriod of on¢ ycar from thc dat¢ of approval of thcsc accounts. Th¢ TTUStee5 of the T￿st have concluded tliat there aTe no mateTial uncertainties related to events OT conditions that may cast sigiiificant doubt on the ability of the Trllst to continue as a goit]g concert]. The Tnjstees are of the opinion that the Trust will have Sufficient resources to meet it5 liabilities a5 they fall due. Donations Dot]atioiis are re£ognised when the Trust has Conf]rn￿tiOn ofboth the amount and settlement date. In the event of donations pledgFed but not received, the ￿n0￿￿t is aLcrued for where the reLtipt is considered probable. Le2a¢ies LegdLie5 are included in tiie Statement of Fin[￿cial Activities when the TTUSt is entitled tsi the legacy, tlie exeLUtOTb have establibhed that there are bufficient surplus assets. in the estste to pay the legacy and aiiy conditioiis attached to tlie le¥acy are u'ithin the control of the Trust. Entitlement is taken as the earlier of the date on which either.. the Trnst is aware ttmt probate has been granted, the estate has been Iinalised and notification has been made by the executor to the Trust thai a distribution will be made, or when a dislribuiion is received from the esiate. Receiplofa legacy, in whole or in part, is only consideredprobable when the amouni can be Ineasured reliably and the Trusi has been nliiified of the executor's iniention to Inake a disiribution. Where legacies have been notified to the Tn￿t, or the Tjust is aware of the granting of probate, but the criteria for income recognition have nL)t been rnet, then the legacy is treated as a contingent asset and disclosed if material. Expenditure Expenditure is included on an accruals basis, inclusive of irrecoverable VAT. Expenses are attributed to the category of expendiMre to which they relate. Finallcial instruments Thc Trust liolds only financial instruments of a type which qualify as basic financial instruments as defined by FRS 102. Debtors Debtors are recognised at their settlernent amount, les5 any PTOVlSiOn for non-iecoverability. Prepayments are valued at the amount prepaid. They have been di5COUTlted to the present value of the futhre cash receipt where such discounting 15 material. C#5h at bank aDd in hand Cabh (li bank in h￿d iepresents. suLh accounts instruments that are available on duknand or hdvt a matUTity of less than tl)ree months froni the date of acquisition. QUEEN ANNE'S SCHOOL GENERAL CHARITABLE TRUST NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 3DJUNE 2025 ACCOUNTING POLICIES IcontiDlled) Fixed #s5et inVe5ttn¥nts Libted investJnenls 'sis: Unrestrieted fund General lund 2.051,132 41.8(19 2.U92,941 Rcstrietcd funds Red Cloak Fund White Fund 1,0¥0,812 28,827 35,113 (41,915) 3,773 1,075 1,044,897 32,6(Xl 36,188 Dr Ceril Jones Fund Permanent end0￿￿ellt fund 3,201,884 4,747 3,206,631 Fixed Assets Current Assets Net Assets Prior year analys1S: Unrestricteil fund Gencral fund 1,794,223 400,402 2,194,625 Restricted funds Red Cloak Fund White Fund Dr Ceril Jones Fund 1,103,694 29,260 35,600 (13,725} 4,374 1,007 1,089,969 33.634 36.607 Permanent endowment fund 2.962,777 392,063 3,354,840 QUEEN ANNE'S SCHOOL GEP4ERAL CHARITABLE TRUST NOTES TO THE ACCOUNTS (contlnued) POR THE YEAR ENDED 30JUNE 2025 10. RELATED PARTY TRANSACTIONS The United Westminster and Grey Coat Foundatio The charity has close links with the Uiiited Westminstei and Giey Coat Foundation. a iegisteied company (number I14￿504) and charity (numbcr I181012)- It.￿ objcct is thc provision of fivc schools, including thc School. Tran%action% with the School are shown in note 4. At 30 June 2025. the Trust held fi￿d8 as agent for the School as disclosed in note 7 and £17,341 {2U24'. £65.345) was due to the School for outstanding bursary contribuiions, as detailed in Note 6. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Permanent Endowment Fund Unrestricted funds Restricted funds Tot81 2024 ote Income from: 202,376 1,025 36,128 203,401 92,512 1.423 Oiher 1.423 Total Income 260,183 37,153 297,336 Expenditure on: Charitable uclivities 134.9131 156,288) 191.2011 Total expendlture 134,9131 156,2881 191,2011 Net incomel(loss) before gains on investments 225,270 119.135) 206,135 Net gains on investments 137,037 87,814 224,851 Net income and net movement in funds 362,307 68,679 430,986 Balances brought forward at l July 1,832,318 ,091,531 2,923,854 Balances tarried forward at 30 June 2,194,625 1,160.210 3,354,840