Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 5 APRIL 2025 

FREESTONE & CO Chartered Accountants 1 The Centre High Street Gillingham Dorset SP8 4AB 

Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION CONTENTS 

||Page|
|---|---|
|TRUSTEES’ ANNUAL REPORT|2-5|
|INDEPENDENT EXAMINERS REPORT|6|
|RECEIPTS AND PAYMENTSACCOUNT|7|
|STATEMENT OF ASSETS AND LIABILITIES|8|
|NOTESTOTHEFINANCIALSTATEMENTS|9-10|



I 

Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 

## Reference and administration details 

Charity’s principal address: Gillingham School, Hardings Lane, Gillingham, Dorset. SP8 4PQ 

The trustees of the charity are ex officio the governors of Gillingham School. The number of trustees (currently 15) and their appointment or election is organised according to the most recent Instrument of Government of the School. All trustees have equal responsibility to fulfil the objects of the charity and manage its assets. 

## Charity trustees 

Office (if any) | Dates acted if not for whole year Foundation Governors— appointed by the Foundation Governors in office 

Mr G Lowton, SP7 8HL Chair 

Mr A Jenkins, BA9 8LZ 

Mr T Sharp, DT10 INR Mrs J Rees, BA12 6DY 

Local Authority Governor — appointed by the Local Authority 

Mr R Hopton, SP8 SNH 

Parent Governors — elected by parents of pupils at Gillingham School 


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Mrs J Cox, SP8 4SG from 1 May 2024 to 23 September 2024<br>Mrs L Warren, DT10 1LE from | May 2024<br>Mr D Denham, SP7 8BX from 18 March 2025<br>Mr M Pitts, SP8 SDT from 18 March 2025<br>**----- End of picture text -----**<br>


Staff Governor — elected by the staff at Gillingham School Ms E Callender, SP7 8PG 


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Co-Opted Governors — appointed by the board of Governors<br>**----- End of picture text -----**<br>


Mr P Andrews, SP8 4EP 

Mr N Borrill, SP8 4EP 

Mr I Day, SP8 4PG Vice Chair Mr R Harvey, DT10 1NP Mr M Lake, SP3 6AD Mr S Uden, SP7 8LX 

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Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 (Continued) 

## Reference and administration details (continued) 

## Names and addresses of advisers 

|Accountants|Freestone & Co|1 The centre, High Street, Gillingham, Dorset|
|---|---|---|
|Solicitors|Farnfield& Nicholls|The Square, Gillingham, Dorset|
|Bankers|Lloyds TSB ple|High Street, Gillingham, Dorset|
|Investment advisors and nominees|St James’s Place Wealth|1 Tetbury Road, CirencesterGL7 1FP|
||Management||
||Aegon Investment|Edinburgh Park, Edinburgh EH12 9SE|
||SolutionsLtd||



## Structure, governance and management 

## Description of the charity’s trusts 

Type of governing document: The foundation of Gillingham School was created in 1516 by the gifts of lands and tenements so ‘that out of the issues and profits thereof there might be perpetually maintained within the said town a schoolmaster for the instruction of youth in good literature for the better discharge of their duty to God, the King and Commonwealth’. In 1965 a scheme was made by the Secretary of State for Education and Science under Section 18 of the Charities Act 1960, as amended by the scheme dated 15 January 2003, which sets out the rules and regulations for the 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 2025 (Continued) 

## Objectives and activities 

eaeSummary a mreof the feobjects governingof the ie school of the Foundation shall be a day or boarding school for boys or document: Br The principle object of the Foundation is to use the income of the fund for providing special benefits for the School and its scholars not normally provided by the Local Education Authority. 

Summary of the main activities in The main activities include; relation to these objects: 

e Providing or assisting the provision of special benefits e Making grants to individuals, including loans e Making grants to organisations, including schools and charities e Awarding scholarships, bursaries or maintenance allowances e Promoting the education (including social and physical training) of beneficiaries. 

The trustees who manage the charity meet at least four times a year. 

## Achievements and performance 

SAMA of'she mate ‘ During the period the Foundation continued to provide assistance for special achievements of the charity a . . ‘ benefits, field trips, exchanges, prizes and awards. during the year 

4 

Charity No. 306212 

# GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 (Continued) 

Brief statement of the charity’s The capital of the various endowments and profits made thereon are restricted policy on reserves so that only the income generated can be spent on meeting the Foundations objectives. 

Details of any funds materially in None. deficit 

The trustees declare that they have approved the trustees’ report above. 

Signed on behalf of the charity’s trustees 


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fo |<br>Signature tae vel Apo oo R...A..<br>Full name Mr G Lowton Mr I Day<br>Position Chair Vice Chair<br>Dae AON ANN 2A cece eee DRAWN 2O2 Geer<br>**----- End of picture text -----**<br>


Position Chair 

Dae AON ANN 2A cece 

Charity No. 306212 

# GILLINGHAM SCHOOL FOUNDATION INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS 

TO THE BOARD OF GOVERNERS OF GILLINGHAM SCHOOL, AS TRUSTEES OF GILLINGHAM SCHOOL FOUNDATION FOR THE YEAR ENDED 5 APRIL 2025 AS SET OUT ON PAGES 7 TO 10 Respective The charity’s trustees consider that an audit is not required for this year (under section responsibilities of 145(1) of the Charities Act 2011 (the Act)). The trustees have requested that an trustees and examiner independent examination be carried out. It is my responsibility to: ® examine the accounts (under section 145 of the Act), e to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145 (5) of the Act), and e to state whether particular matters have come to my attention. Basis of independent My examination was carried out in accordance with General Directions given by the examiner’s statement Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. 

Independent examiner’s _ In the course of my examination, no matter has come to my attention statement 

1. which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: e proper accounting records are kept (in accordance with section 130 of the Act); and 

e accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: fe Date: 2\\ © Name: Mr R Freestone . ) Relevant professional FCA, FCCA qualifications: Address: One The Centre High Street Gillingham Dorset SP8 4AB 

6 

Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 


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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Endowment|Total|Last|
|Funds|funds|funds|funds|Year|
|£|£|£|£|£|
|Receipts|
|Income|from|Investments|9,992|0|0|9,992|10,061|
|Rents,|wayleaves|and|keep|1,804|0|0|1,804|1,706|
|Bank|and|investment|interest|20,254|0|0|20,254|19,420|
|Donations|and|Gift|Aid|50,000|0|0|50,000|25,035|
|82,050|0|0|82,050|56,222|
|Investment|sales|0|0|253,859|253,859|3,688|
|Total|receipts|82,050|0|253,859|335,909|59,910|
|Payments|
|Clerks|salary|1,450|0|0|1,450|1,200|
|Administration|18,576|0|3,907|22,483|5,357|
|Chant|awards|6,250|0|0|6,250|5,000|
|Speech|Day,|Founders|Day|and|
|Meeting|expenses|3,825|0|0|3,825|1,675|
|Grants|to|scholars|10,898|0|0|10,898|14,193|
|Grants|to|school|62,531|0|0|62,531|19,097|
|Fletcher|awards|2,000|0|0|2,000|500|
|Headteacher’s|reserve|1,211|0|0|1,211|3,304|
|Independent|examiners|report|0|0|0|0|918|
|Sports|Award|0|0|0|0|1,029|
|106,741|0|3,907|110,648|52,273|
|Investment|purchases|0|0|225,721|229;/21|0|
|Total|payments|106,741|0|229,628|336,369|52,273|
|Net|receipts|/(payments)|(24,689)|0|24,229|(460)|7,637|
|Transfers|between|funds|20,000|0|(20,000)|0|0|
|Cash|funds|last year end|65,434|0|332|65,766|58,129|
|Cash funds this year end|60,745|~—St=<“‘<«‘ *é‘ a‘SO!#C*«wS~«30G#~*~*«S«TOG|
|pecansalt tines|as|

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Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2025 

||Note<br>Unrestricted|Note<br>Unrestricted|Restricted|Restricted|Endowment|Totalthis|Total last|Total last|
|---|---|---|---|---|---|---|---|---|
|||funds|income|funds|funds|year||Year|
|||£|£||£|£|£||
|Cash funds|||||||||
|Cash - Lloyds Bank||60,745||0|0|60,745|65,434||
|Cash - Investments||0||0|4,561|4,561||332|
|||60,745||0|4,561|65,306|65,766||
|Investment assets|||||||||
|Land and investments|1.|0||513|762,501|763,014|780,175||
|Other assets|||||||||
|Rents due||0||0|0|0||0|
|Liabilities|||||||||
|Creditors and||1,848||0|0|1,848||918|
|accruals|||||||||
|Net assets|2.|||||826,472|845,023||
|Signedonbehalfofalltrustees<br>Signature|trustees<br>(=a|ee|||\<br>i<br>naaceeceaey<br>s weeNaeeG Se We o neyghisin||eleltane|eae|
|Full name|Mr G Lowton||||Mr I Day||||
|Position|Chair||||Vice Chair||||
|Date||oe ee|||Pe ee||||
|||||8|||||



Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 

## 1. LAND AND INVESTMENTS 

||Holdings|Cost<br>b/fwd|Additions|(Disposals)<br>/reinvest-<br>ments|Gains /<br>(losses)|Cost<br>c/fwd|Market<br>value|Est. net<br>income<br>foryear|
|---|---|---|---|---|---|---|---|---|
|St James Place||£|£|£|£|£|£|£|
|Diversified Bond|112,448|155,933||(48,475)|(10,072)|107,458|83,121|7,741|
|Corporate Bond|72,560|116,893||(36,308)|(5,019)|80,585|67,778|5,232|
|Global High Yield Bond|84,148|116,827||(36,367)|(6,271)|80,460|63,633|6,241|
|UK Equity Income Unit Trust|41,019|77,959||(24,204)|3,424|53,755|57,181|3,119|
|Global Value Income|27,555|63,941||(19,905)|18,093|44,036|74,895|1,564|
|Worldwide Income|54,581|78,112||(24,343)|10,117|53,769|69,536|2,176|
|UK Class UT Inc|9,875|156,200||(48,507)|(354)|107,693|96,273|2,990|
|Global Equity UT|3,998|14,310||(4,471)|1,078|9,839|10,362|133|
|Cash||332||(332)|0|0|0||
|||780,507|O|(242,912)|10,996|537,595|522,779|29,196|
|Aegon|||||||||
|Artemis Corporate Bond|25,090||23,000|(16)||22,984|22,614|0|
|Baillie Gifford Gb] Inc Gth B|1,025||11,500|(56)||11,444|10,609|0|
|FTF MrtCurUKRsgDiv|12,703||17,320|||17,320|16,273|0|
|HSBC American Index C Inc|2,128||23,000|||23,000|19,086|0|
|HSBC FtSE All World Index|8,231||23,000|(31)||22,969|19,755|0|
|iShares UKGItAIStInd|15,652||18,405|||18,405|18,361|0|
|M&G CorporateBond | Inc|65,223||23,000|(8)||22,992|22,672|0|
|M&G GblStnPrAlg|315||11,500|(94)|(20)|11,406|10,078|0|
|Royal London UK Equity|1,865||17,379|||17,379|15,659|0|
|Schroder Sterling Corp Bd|10,306||11,500|(1)||11,479|11,409|0|
|Vanguard FTSEUK|269||34,617|||34,617|31,981|0|
|Vanguard Gbl Corp Bd|122||11,500|(76)||11,424|11,388|0|
|Cash|||4,561|||4,561|0||
|||0|230,282|(302)|(20)|_229,980|209,885|0|
|2025 Totals||780,507|230,282|(243,214)|10,976|767,575|732,664|29,196|
|2024 Comparatives||784,0853,578)|||(220)|780,507|773,080|28,892|



## LAND 

In addition to the above investments the Foundation holds investments in land, which have not been valued. These include the site of the school and four parcels of agricultural land in Gillingham. 

9 

Charity No. 306212 

## GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 


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|||||||||
|---|---|---|---|---|---|---|---|
|2.|ACCUMULATED|AND|OTHER|FUNDS|
|Balance|Gain/(loss)|on|Movements|Balance|
|b/fwd|investments|in|year|c/fwd|
|ENDOWMENT|FUNDS|£|£|£|£|
|Capital|Fund|769,920|10,976|(23,414)|757,482|
|Other|Funds|
|-|Sports|Challenge|Award|6,410|0|0|6,410|
|-|Freame|Prize|29|0|0|29|
|-|Megson|Memorial|500|0|0|500|
|-|Fletcher|Award|484|0|(484)|0|
|-|Elphick|Prize|87|0|(10)|77|
|-|G|Jones|Memorial|2,564|0|0|2,564|
|-|Megson|Income|Fund|513|0|0|513|
|10,587|0|(494)|10,093|
|UNRESTRICTED|FUNDS|
|Income|Fund|64,516|0|(5,619)|58,897|
|64,516|0|5,619|58,897|
|TOTAL FUNDS|845,023|10,976|(29,527)|826,472|

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