Charlty reglstratlon number 306386
OLIVER WHITBY EDUCATIONAL FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

OLIVER WHITBY EDUCATIONAL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Govemors
Nigel Hanbury
Mrs Emma Goad
Janet Beveridge
Anne Sciduna
Bemard Adkins
Deborah Alun-Jones
Clerklsecretary
David Mccahearty
Charity number
Princlpal address
11 Brigham Place
Felpham
West Sussex
BCMJr￿r Regis
P022 7NW
Indep•ndont examiner
Claire Norwood Bsc FCA ATII
Carpenler Box
Piper House
4 Dukes Court
Chichester
P019 8FX
Bankern
Barclays Bank plc
97 High Street
Selsey
West Sussex
P020 OQN
Investment advlsorn
Investec Bank (UK) Limited
2 Gresham Street
London
EC2V 7QP

OLIVER WHITBY EDUCATIONAL FOUNDATION
CONTENTS
Page
Govemors. report
Independent examinefs report
ststement of financial activities
Balance sheet
Notes to the financial statements
6-15

OLIVER WHITBY EDUCATIONAL FOUNDATION
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Govemors present their annual rep(xl arKJ financial ststements ftx the year ended 31 August 2024.
The finan￿81 statements have been prepared in ac¢xJrdanc8 with the accounting polic4es set out in note 1 to the
finanaal statements and compty with the Foundation's Trust Deed sealed 17 October 1951. the Charities Act 2011
and 'Accounting and ReportirvJ by Charities: Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland
{FRS 102) (effective 1 January 2019)".
Objectlvos and actlvltles
Three students were sponsored during the year.
Achiovement• and perforniance
Thr88 Stud8nls were sponsored during the year a totsl of £70.508 (2023 £65,510) being given in grants. The
Foundation has continued to reinvest its remaining income in order to allow the pursuance of stated objectives as
future suitsble candidates become available.
Flnanclal revlew
The Foundation's resep48 policy is that all funds which have not been designatedlrestricted for a specific use (the
are presently no such funds) should be maintained at a level equivalent to at least one yearfs expenditure. The
governors consider that reserves at Ihis level will ensure that. in the event of a significant drop in funding. they will
b8 able to continue the charity's current activilies while consideration is given to ways In which additional fijnds may
be raised.
The reserves held at the balance sheet date are £2.237.774 (2023 - £2,076,669).
The Foundation's investrnent policy is lo provide a balanced retum b8lween capital and income with a minimum risk
profile.
The Govemors have assessed the Major risks lo which the FOunda1￿Tr is ex[￿d. and are sats'sfied that systems
are in place to mitigate exposure therelo.
Struclurn, gov•rnanc• and managoment
The Oliver Whitby Educational Foundatton is a registered charity (charity number 306386). The object of the Charity
is to grant scholarships or awarrls for the benefit of qualified students, whose parents are members of the Church of
England. are in need of financial assistanc8 and who are or have l)een for not less than two years bona fide
residents of Chichester or Midhur5t (preference being given to students resKJent in the Cty of Chichester or in the
parishes of Harting or West Wlttering}. to assisl in their education or training at Chrisfs Hospital, or any other school
where ￿ligIouS instruction is given according to th8 doctrines of the Church of England, or at any university or other
place of leaming, or to enable them to p￿pare for. or assist their enty into, some profession. trade or calling, and
for that purpose may provide them with ouffits, dothing. tools. instruments or books.
The Governors who served during the year and up to the date of signature of th8 finandal statements were:
Nigel Hanbury
Mrs Emma Goad
Janet Beveridge
Anne Scicluna
Bemard Adkins
Deborah Aiun-Jones

OLIVER WHITBY EDUCATIONAL FOUNDATION
GOVERNORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The Goveming Body of the Foundation shall consist of eight persons. that is to say:
FIVE Foundation Governors. who shall be member5 of the Church of England. to be appointed by resolution of the
Govemors; and
THREE Repr8sontative Govemor5.who shall be member5 of the Churth of England. to be appointed:
One by the Chichester Diocesan Education Committee.
One by the West Sussex County Council. and
On8 by the Chichester City Council
The Gov8rnors meet formally at leasl Iwice in each year. In addition, Sub Committ88s of the Govemors m88t to
consider specffic matters or ad hoc tasks as they may arise.
Th8 trustees havè paid due regard to the guidance issued by the Charity Commission in deciding what activities th8
charity should undertake.
There are no Charities related to the Foundalion.
The Govemors. report was approved by the Board of Governors.
Nigel Hanbury
Gov•rnor
Date..
3024•

OLIVER WHITBY EDUCATIONAL FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE GOVERNORS OF OLIVER WHITBY EDUCATIONAL FOUNDATION
I report to the Govemors on my examination of the financial statements of Oliver Whitby Educational Foundation
(the Foundation) for the year ended 31 August 2024.
Respon$lblllt5es and b￿18 of rnport
As the Governors of the Foundation you are ￿spOnSible for the preparation of the financial ststements in
accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I r8POrt in resp8Ct of my examination of th8 Foundation's financial stslem8nts carTied out under section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) of the 2011 Act.
Independent examinerfs statwnent
I have completed my examination. l (xjnfirm that no matters have come to my attention in connection with th8
examination giving me cause to believe that in any material respect:
accounting records were rK)t kept in respect of the Foundation as required by section 130 of the 2011 Act., or
the financial statements do not accord with those re￿)rdS.,
the financial statements do not comply with the applicable requirements concerning the fonn and content of
accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a tnje and fair view which is nol a matter c4)nsidered as part of an independenl examination.
I have no ￿ncernS and have
should be dra
in this re
no other matters in connection with the examination to which attention
enal)le a proper understanding of Ihe financial statements to be reached.
order
Clalra Norwood Bsc FCA ATII
Carpenter Box
Piper House
4 Dukes Court
Chlchester
P019 8FX
Dated..

OLIVER WHITBY EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestrlcted Unrestrlcted
fvnds
funds
2024
2023
Income from:
Donations and legacies
Investments
30.000
47.731
51,786
Total Incom•
51.786
77,731
Expenditurn on:
Raising funds
Charitable activities
17.401
77.604
17,152
72,438
Total expenditure
95.005
89,590
Net gainsl{losses) on investrnents
11
204,324
{22,153)
Net Incomol(oxp•nditure) and rnovement In funds
161.105
(34,012)
Reconciliatlon of fundB:
Fund balanc85 at 1 September 2023
2.076.669
2,110.681
Fund balanc08 at 31 Augu•t 2024
2,237.774
2,076,669
The ststement of financial activities inthdes all gains and losses recognised in the year. All in(x)me and expendrture
derive from continuing activities.
LJ 2F"
¥y

OLIVER WHITBY EDUCATIONAL FOUNDATION
BALANCE SHEET
ASAT 31 AUGUST 2024
2023
Flxed assèts
Inv8Stments
13
2.222.729
2,064.153
Current assets
Debtors
Cash at bank and in hand
15
73
12,518
15,120
15.120
12.591
Crodltor8: amounts falllng duo wlthln
ono year
16
75
75
Net current assets
15,045
12,516
Total a880ts le•s current liabllttl•$
2.237,774
2.076,669
Th• funds of the Foundatlon
Unrestricted funds
2.237.774
2,076,669
2,237.774
2.076,669
The financial statements were approved by the Governors on ....
Nig81 Hanbury
Trustee

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policles
Charlty Inforniatlon
Oliver Whitby EducAtlonal Foundalion ts an unincorporated chanty registered in England and Wales (number
306386).
1.1 Accountlng convention
The financial statements have b8en wepared in a(xxJrdance ￿ the Foundalion's goveming document, the
Charities Act 2011 and "Accounting arKI Reporting by Charities." Slatement of Recommended Practice
applicable to chartlies preparing their accounts in accordance with the Financial Reporting Standard
applicab18 in the UK and Repullic of Ireland (FRS 102) {effedive 1 January 2019).. The Foundation is a
Public Benefit Entity as defined by FRS 102.
The Foundation has tsken advantag8 of the provisions in the SORP for thariti88 applying FRS 102 Update
Bulletln 1 not to prepare a Statement of Cash Flows.
The financial ststements have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Pracb'ce for charities applying FRS 102 rather than the version of the Statement of
R8commend8d Practice which Is ￿ferred lo in the Regulations but which has since been withdrawn.
The financial statements are prepared In sterling, whlch is the functional currency of the Foundation. Monetsry
amounts in these financial statements are rounded to the nearest £.
The financial ststements have been prepared under the historical (xjst convention. [modified to include the
revaluation of freehold properties and to indude investrnent properties and c*rtain financial instruments at falr
value]. The principal accounting policies adopted are set out below.
1.2 Golng concern
At the time of approving the finanaal ststements. the Governors have a reasonable expectation that the
Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the
Govemors continue to adopt the going concem basis of accounting in preparing the financial ststements.
1.3 Charbtabh funds
Unrestricted funds are available for use at the discretion of th8 Govemors in furtheranc8 of their charitable
objectives.
1.4 Incomo
Investment income (including asso(ialed tax credits) is uedited to the Ststement of Financial Activities when
receivable. The amounts relating to funds held for restiided puwposes are subsequently transferred to these
funds, although no such funds arose in the year.
Cash donations are recognised on re￿ipt. Other donations a￿ recognised once the Foundation has been
notified of the donation. unless performan￿ conditions require deferral of the amount. Income tsx recoverable
in relation to donations rKetved under GiftAid or deeds of covenant is reecMJnised at the time of the donation.
Legacies are recognised on receipt or otherwise rf the Foundation has been notified of an impending
distribution. the amount is known, and receipt is expected. If Ihe amount is not known. the legaw is treated as
a contingent asseL
1.5 Expenditure
Grants payablo are debited to expendilure within the Statement of Financial Adivities in the period to whith
they ￿late or when there is an obligation by the charity to pay the gtanL

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcl•s
(Contlnued)
1.6 Flxed asset Snvestrnonts
Fixed asset investments are initialty measured at tranSa(al¢￿ price excluding transaction cL)sts, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction cx)sts are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-tenn liquid
investments with original maiurities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.8 Financial instruments
The Foundatlon has elected to apply Ihe provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party
to the contractual provisions of the inslnjment.
Flnancial assets and li8bilitles are offset, with the net amounts presented In the financlal staternents. when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and setue the liabilty simultaneously.
Basic Ilnanclal assets
Basic flnanclal assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
int8rest method unless the arrangement constitutes a financing transaction. where the transaction is
measured al the present value of the future receipts discounted at a mafket rate of inlerest. Financial assets
dassified as rec*ivable within one year are not amortised.
Baslc financlal liabllltles
Basic financial liabilities. including cr8ditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future receipts discounted at a market rate of interest. Financial liabilities classtfied as payable
within one year are not amortised.
Debt instruments are subsequentty carried at amortised cos( using the effective interest rate method.
1.9 Fund Accounting
The Foundation's reserves rxjnsist of unrestricled funds which may be used for any purpose at ivs discretion.
Critlcal accounting estimates and Judgements
In the application of the Foundation's accounting policbes. the Govemors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experi8nc8 and other
factors that are considered to be rel8vanL Actual results may differ from these 8Stimates.
The estimates and underlying assumptions are ￿vieWed ￿ an (￿gOIng basis. Revisions to accounting
estimates are recognised in the period in which the estimate is ￿Vised where the revision affects only that
period, or in the period of the revision and future peri(yJs Whe￿ the revision affects both current and future
periods.

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Incomè from donations and legacles
Unrestrlctsd Unrestricted
funds
funds
2024
2023
Donations and gifts
30,000
Income from Investments
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Incom8 from listed investrnents
Interest receivable
50,537
1.249
46,645
1.086
51,786
47,731
Expendllure on ralslng funds
unrnstrIct￿ Unrostrlctod
funds
funds
2024
2023
Investment management
17.401
17,152
Charltable actlvltles
Educatlonal Educatlonal
scholarships $cholarshlps
2024
2023
Clerk's salary
Clerk's travel
Typing
Postsge and stationery
4.000
200
160
300
200
160
4,660
Grant funding of activrties {see nole 7)
Share of govemance costs (see note 8)
70.508
2.436
65.510
2,268
77,604
72.438

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Grants payable
Educatlonal Educational
scholarshlps scholarships
2024
2023
Grants to individuals
70,508
65,510
70,508
65.510
Support costs
Support Governance
2024Support costs Govemance
costs
2023
Independent 8xarnination
fees
2.436
2,436
2,268
2.268
2,436
2.436
2.268
2.268
Analysed between
Charitable activities
2.436
2.436
2.268
2,268
Governors
None of the Governors (or any persons connected wilh thern) received any remuneration or benefits from the
Foundats'on during the year.
10 Employ￿8
The average monthty number of employees during the year was:
2024
Number
2023
Number
Totsl
There were no employees whose annual remuneration was more Ihan £60.IXK).

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
11 Gains and losses on inveslm•nts
Unrestricted Unrestrlcted
funds
funds
2024
2023
Gainsl(losses) arising on:
Revaluation of investments
Sale of investrnents
181,041
23,283
(28,068}
5,915
204,324
(22,153)
12 Taxatlon
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent Ihat these are applwd to its charitable objects.
13 Flx•d assot Invostments
Ll8t•d
Cash at
Invoslmonts InV￿tment
manag•rs
Total
Cost or valuatlon
At 1 September 2023
Additions
Valuation changes
Decrease in portfolio cash
Disposals
2.023.274
401.272
181.041
40.879
2,064,153
401,272
181,041
{9,516)
(414,221)
(9.516)
{414.221)
At 31 August 2024
2.191.366
31,363
2.222.729
Carrylng amount
Al 31 August 2024
2.191.366
31.363
2,222,729
At 31 August 2023
2.023.274
40,879
2.064,153
Flxod assot Investments revalued
Fixed asset investrnents are managed by Inveslec Weath & Investrnent. The historic costs of these
investments are as follows: Listed inv8strne￿ £1.703.097 (2023: £1,649,037) & Cash at investment
managers £31.363 (2023: £40.879).
10-

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
14 Flnancial instruments
2024
2023
Carrylng amount of financlal assets
Instruments measured at fair value through profft or loss
2.191,366
2,023,274
15 Debtors
2024
2023
Amounts falllng du• within on• y•ar.
Prepayments and accrued income
73
16 Credltorn: amounts falllng due vAthln ono yur
2024
2023
Other creditors
75
75
11

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
17 Schedule of Inv•stment Inwrn
2024
Aberdeen Std Fd Mg ASI Gbl Infftlkd Bd Insll S
Aberdeen Std Fd Mg ASI Sht Dur Gbl Infltlkd Bd
Anglo American USDO.54945
Assura PIC Ordinary Shares
AXA Investment Man Framlington UK Mid Cap
Blackrock European Dynamic
Bunzl Ord GBPO.32142857
Compass Group Ord GBPO.1105
Croda Intl Ord GBPO.10609756
Derwent London Ord GBPO.05
Diageo Ordinary Shares
Experian Ord USDO.10
Fundsmith LLP Equty I Inc Nav
Greencoat UK Wind Ord GBPO.01
Halma Ordinary 10p
Hemies Investment Global Emerging Markets J G Sett
HSBC Holdings PLC US $0.50 Ordinary Shares
INT Public Partner Ord GBPO.0001
Invesco European Invesc4) EURP Eq Inc UK
Ishares Core S&P 500
JP Morgan Liquidty GBP
Jupiter UT Mngrs UK Spec Situations l GBP (now X GBP)
Lazard Inveslment Fds Emerging Markets
Lvmh Moet Hennessy
London Stock Exchange
Man Fd Mgmt Uk Ltd GLG Under¥alAst Prof D
Polar Capital Fund Global Insuran￿ E G8P Dis
Prudantial GBPO.05
Relx PIC GBPO.1444
Rio Tinto PLC 1 Op Registered Ordinary Shares
Royal London Utm Sterf Credt Instl Inc Z GBP
Sag8 Group GBPO.01051948
Schroders PIC Ord GBPO.20
Schroder Inv Mgmt Asian Total Re￿rn C Inc Nav
Scot Mort Inv Tst Ord GBPO.05
Shell Pl¢ Ord EURO.07
SSE PIC GBPO.50
Threadneedle (Lux) Gbl Corp Bd
Tritax Big Box Rei
UK Commercial Prop Ord GBP 0.25
UK (Govt ofj 0.5°kn Bds 31101129 GBP1000
UK (Govt OQ 0.25% Bds 31107131 GBP1000
UK (Govt OQ 0.625% Bds 31107135 GBP10(X)
UK (Govt ofj IdxlLkd Snr 22103134 GBP
UK (Govt oo 0.125°h Snr 30101126 GBP10(X)
UK (Govt ofj 1.125% Snr 31101139 GBP1000
UK {Govt ofj 3.5% Bds 22110125 GBPO.01
Unilever PLC .031111 Ordinary Sha￿s
Vanguard Fund PIC ￿SE Japan Equity Ucits GBP
Vanguard Funds PIC S&P 500 USD
2,212
1,872
403
2.819
729
364
574
373
157
505
573
237
292
2,711
153
391
2.069
1,958
879
1,206
1,220
802
155
268
322
1,943
806
349
476
1.946
5,938
415
759
1.101
213
1,817
1,070
5,030
571
1,197
91
136
189
85
51
102
243
585
836
1.094
12-

OLIVER WHITBY EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
17 Schedule of Investment Income
(Contlnuod)
Worldwide Healthcare Ord GBPO.25
250
50.537
13-