Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 FREESTOIYE & CO Chartcred Accountants l The Centre High Str¢et CJftllin2ham Dorset SP8 4AB
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION CONTENTS Page TRUSTEES, ANNUAL REPORT INDEPENDENT EXAMINERS REPORT RECEIPTS AND PAYMENTS ACCOUNT STATEMENT OF ASSETS AIND LIABILITIES NOTES TO THE FINANCIAL STATEMENTS 9-10
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 Reference and administrdltion det4iili• Charity's principal address: Gilliiigham School, Hardings Laiie, Gillingham, Dorsct. SP8 4PQ The trustees of thc cliarily are ex officic) thc governors of Gilliiigham School. The numbcr of trustees (Lurrciitly 16) aiid their appointmciil or clcctioii is organiscd according to thc most rLceiit Inslrumcnt of Govcrninent ot'tlic School. All trustccs havc equal responsibility to t"uifil thc objccts of the cliarity and manage its assets. Charity trustees Name lee (il. any) Dates acted if not for whole year Foundation Governors- appointed by thi, Foundation trustees in office MT G Lowton, SP7 8HL Chair Mr A Jcnkins. BA9 8LZ Mi. T Sharp, DTIO INR .Mrs J Rees, BA12 (IDY Authority Governor- appointed by the Local Authority Mr S Uden. SP7 8LX Parent Governors- elected by parents of pupils at Gillingham School Mr4 P Davidson. SP8 4GX Mr Richard Hopton, SP8 5NH Mrs Simmonc Shearii. SP8 4GT end of temi 17 July 2023 resigned 27 February 2024 Staff Governor- elected by the staff at Gillingham School Ms E Vallciidcr. SP7 8PG Co-opted Governors- appointed by the board of Governors Mr R Harvcy, DTIO INP Vice Chair resigned qr l Day, SP8 4PG Vice Chair Ir M Lake. £P3 C?AD Mr P Andrcws, SP8 4EP Mr N Borrill, SP8 4EP Rita Hoddinott, BA9 9LS rcsigncd 19 September 2023
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (Continued) Reference gdnd administration details continued Names and addresses of advisers Type of advisor Name Address Accountants Freestone & Co l The centre, High Strcet, Gillingham, Dorset Solicitors Farnficld & Nicholls The Square, Gillingham, Dorset Bankers Lloyds TSB plc High Street, Gillingham, Dorset Investment advisors and nominees St Jame%'8 Place Wealth Managcmcnt l Tetbury Road, Circncester GL7 1 FP Striicture, Governance and mana ement Description of the charity's trusts Type of governing document: The foundation of Gillingjhain School was crcatcd in 1516 by ihc gitls of lands and ienements so 'that out of the issues and profits thereof tberc might be perpetuallv maintained within the Said town a schoolmaster for the instruction of youth in good literature for the betler dischargc of thcir duty to God, thc King and Commonwcalth,. In 1965 a scheme was madc by thc Secrctary of Statc for Education and Scicncc uJ)der Section 18 of tlie Charitics Act 1960, as amended by thc scheme datcd 15 January 2003, which sets out the rules and rcgulations for thc activities of the Foundation. How the charity is constituted: Foundation Trust
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (Continued) Ob'ective8 and activities Summary of the objects of the charity set out in its governing document: The sLhool of the Foundation shall be a day or boarding school foi. boys or girls. The principle object of thc Foundation is to usc thc income of the fuiid for providing special bcncfits for ihc School and its scholars not nomally provided by thc Local Education Autliority. Summary of the main activities in The main activitics include. relation to these objects: Providing or <issisliiigy the provision of spccial bencfils Making grants to individuals. includiiig loans Making grants to organisations, including schools and charitics Awarding SLholiirships, burs4ifiLS or maiiitciiancL allowancLS Promoliiig ihc cducation (including %ocial and physical traiiiiiig) of bLtILficiariLs. Thc trustLes who managL thc charity mect at Ic(Isi four timcs a ycar. Achievements and pertormance Summary of the main achievements of the eharity during the year Duriiig ihe period thc Foundation continucd to provide assislancc for spccial bciicfils, ficld trips. Lxchaiigcs, prizcs and awards.
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (Continued) Financial rei'ieii, Brief statement of the charity's policy on reserves The capital of the various eAidowinentS 4U]d profits madc thercon are rcstrictcd so that only the income generated can be spent on meeting the Foundations objcctivcs. Details of any funds materially in deficit None. Dccl4iration The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Signature Full name Mr G Lowton MrlDay Position Chair Vice Chair Date
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS TO THE BOARD OF GOVERNERS OF GILLINGHAM SCHOOL, AS TRUSiTEES OF GILLIINGHAM SCHOOL FOUIYDATIOIY FOR THF. YEAR ENDED 5 APRIL 2024 AS sE'r OUT ON PAGLS 7'ro I Respective responsibilities of trustees and examiner Thc charity's trustees consider that an audit is not required for this year (under section 145(1) of the Charities Act 2011 (the Act)). Thc trustees have requested that an indcpcndcnt cxamination bc carricd out. It is my responsibility to.. examine the accounts (under section 145 of the Act), to follow the proccdurcs laid down in thc Gcncral Directions givcn by the Charity Commission {uiidcr seclioii 145 (5) of the Act). aiid Io 8tatc whcthcr particular Inattcrs have come to my attcntion. Ba.%is of independent examiner's statement My cxaminatton wa8 ca]Ticd out in 1lccordilllCC With Gcncral Dircction% givcn by thc Charity Commissioncrs. An examiiialioii includes a rcvicw of the accounliiigy records kopt by tlic charity and a comparison of thc accounts prcscntcd with tho%L rccords. It also includes consideration of any unusual items or disclosures in the accounts, and sLcking lxplaiiations from thc trustccs LonLLming aiiy such maltcrs. ThL proccdurcs uiidLltakcii do not providc all tlic cvidencc Iliat would be required in an audit, and coiiscqucntly I do not Lxprcss an audit opiiiioii on tlIL' accounts. Independent examiner's Iii the coursc of iny cxaminalioii. no maltcr has come to my attcntioii statement which gyivcs mc rcasonablc cause to bclicve that in. any material rcspcct, the trustcc% liavc Iiot Inct ilic rLquii'LIIILiiI5 to ciisui-c tliat.. proper accounting rccords Iirc kcpt (in accordance with scction 130 of thc Act); and (Iccounts are prcparcd which ¢igrec with thc accouiitiiig rccords and comply with thc accounting rcquircinciilg of thL Acl; or 2. to which. in my opinion, attcntion should be drawn in ordcr to enablc a propcr uiidcrsldiidiiig of thc accounts lo bc rL'achcd. Signed: Date: Name: Mr R. Freestone Relevant professional qualifications: FCA, FCCA Address: Onc ThL. C.cntro High Street Gillingham DorsL't SP8 4AB
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Restricted Endowment fuiids funds Total funds Last Year Receipts liicoinc trom Investments Rcnts, wayleaves and keep Bank and investment intercst Doiiations and Gift Aid 10,061 1,706 19,420 25,035 56,222 10,061 1,706 19,420 25,035 56,222 3,688 9,851 1,707 17,216 25,-300 54,074 3.706 Investment sales 3.688 Total receipts 56.222 3,688 59,910 57.780 Payments Clcrks salary Administration c.hant awards Spcccli Day, Founders Day and MLcling expenses Cjrants to scholars Grants to school Flctchcr awards HLadteaLher's reserve liidcpciidcnt examiners report Spons Award 1.200 2,001 5,000 1,200 3,549 3,356 5,357 5.000 4.176 2.400 1,675 14,193 19.097 500 1,675 14,193 19,097 500 3,304 918 1,029 52,273 126 3.614 116 750 3,304 918 924 814 1.029 48.917 3.356 16,469 Investment purchases Total payments 48,917 3.356 52.273 16.469 Net recèipts /(payments) 7,305 332 7.637 41,311 Transfers between funds Cash funds last year cnd 58,129 58,129 16,818 Cash funds this year end 65,434 332 65,766 58.129
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2024 Note Unrestricted funds Restricted Endowment income funds funds Total this year Total last Year Cash funds Cash - Lloyds Bank Cash - St Jamcs's Place Rc>%'ldled 65,434 65,434 332 65,766 58.129 332 332 65,435 58,129 Investment assets Land and invcstmcnts 513 779,662 780,175 784,085 Other assets Rciits duL' Liabilities Creditors and accruals 918 918 2,041 Net assets 845,1123 840,173 Signed on behalf of all trustees Si%nature Full name Mr G Lowton IDay Position Chair Vice Chair Date
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED S APRIL 2024 LAND AND INVESTMENTS Holdings Cost blfwd Additions IDi5POS8lsl Gains I Ireiniest- {lossesl ments Cost clfwd Market value Est. net income for year Fixed interest Units Diversified Bond Corporatc Bond Global High Yield Bond 163,173 156,716 105,252 117,480 122.182 117,413 {783) {587) (586) (189) 1104) (129) 155,933 116,893 116,827 120,177 99,400 93,615 7,350 5,345 6,135 391.609 11,956) {422) 389,653 313,192 18,830 uitie5 Shal'es UK Equity Incomc Unit Trust Global Value Incorne Worldwide Income UK Class UT Inc Global Equity UT 59,489 78,349 40,011 64,261 79.292 78,503 14,323 156,981 5,814 14.382 (3901 {320) (391) (781) (72) 77,959 63,941 78,112 156,200 14,310 83,284 114.272 105.696 140,338 15.966 3.104 1,512 2,225 3,221 197 120 (113) 392 476 202 390,522 459,556 Cash - St James's Place 332 332 332 2024 Totals 784,085 (3,578) (220) 780,$07 773,080 28,892 2023 Comparatives 765,570 2,473 16,042 784,085 729,624 26,517 LAND In addition to the above invcstmcnts ihe Foundation holds investmcnts in Idnd. which have not bccn valued. Thcsc include the sitc of the school and four parcels of agricultural land in Gillingham.
Charity No. 306212 GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 ACCUMULATED AND OTHER FUNDS Balance b/fwd Gainl(loss) on inve.stments Movements in year Balance clfwd ENDOWMENT FUNDS Reslated 773,498 ital Fuiid 220 3,578 769,920 Otlicr Funds .8p()1'1s Challcngc Award Frcamc Pi'izc Mcgy4011 Mcmoriiil FletcliLr Award ElphiLk Pri7.C G Joncs MLinoricil Mcgsoii IiiLoiiic Fund 6,410 29 500 484 87 2,564 513 10,587 6,410 29 500 484 87 2,564 513 10,5117 UNRESTRICTED FUNDS Incoiiic Fuiid 56,088 8,428 64,516 56,088 8,428 64,516 TOTAL FUNDS 840,173 220 1145,U23 10