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 %'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