ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST) FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH2025
Registered Charity Number 306751
Trustees Report Page 1 Statement of Financial Activities Page 2 Balance Sheet Page 3 Notes to the accounts Pages 4-8 Independent examiners report Page 9
Trustees
Appointing body
I M Whitehead, Chairman School Governors R Hodges, Treasurer Parochial Church Council Mrs P Frost Uplyme Parish Council Mrs C Hales School Governors Mr B Impey MAT Board Link Mrs G McMenemy Diocesan Board of Education J Pennington Parochial Church Council Mrs J Perham Co-opted
Bankers
Lloyds TSB Axminster Triodos Bank
Solicitors
Michelmores Solicitors Woodwater House Pynes Hill Exeter EX2 5WR
Independent examiner
The Jeffery Partnership, Chartered Accountants Highdown, Lime Kiln Lane Uplyme DT7 3XG
Page 1
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Activities and achievements
1.Summary of activities
During the year, the Trustees have continued to plan for the development of the site for the new school and in January 2024 we were successful in obtaining funding which will enable work to commence on the construction of the car park and Multi Use Games Area (MUGA). Various further planning issues arose in respect of the MUGA, car park and flood management. These are being resolved but full planning approval is unlikely before June 2025. Landscaping of part of the site was scheduled to begin in late autumn 2024 but was postponed pending resolution of the planning issues. Work on the car park and MUGA will commence as soon as planning conditions have been satisfied .On completion the car park and MUGA will provide very greatly needed facilities for the school by improving safety at drop off and pick up times and providing the school with a sports pitch for the first time in its history.
The school continues to use the site for imaginative outdoor activities including Forest School.
2. Financial Review
Income for the year was £27,773 (2024 £24,303) and expenditure was £2,234 (2024 £23,208).
Total assets amount to £1,188,816 (2024 £1,160,824) of which £629,509 were in cash funds (2024 £610,618).
3. Risk assessment
The main emphasis of the Trust is to secure the development of the new school. This will require funding in the region of £6m. Funding from central government in the foreseeable future is unlikely and so the development of the school buildings will be dependant on fundraising and borrowing. In the short term the site will be developed in ways to overcome current parking problems at pick up and drop off times and to provide greatly needed sports facilities.
4. Organisation
There are eight Trustees all with very close links to the School, Village and Parish. Trustees held three meetings during the year.
5. Reserves Policy
The Trustees believe that, following the development of the new school, reserves of £100,000 would enable the charity to meet its charitable objectives in supporting the school.
6. Payments to trustees
The only payments made to trustees in the year were to reimburse expenses incurred on behalf of the charity.
…………………………………………………………………………………. I M Whitehead, Chairman
Page 2
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST) Statement of Financial Activities
For the year ended 31 March 2025
| INCOMING RESOURCES | Unrestricted funds |
Restricted income funds |
Total Funds 2025 |
Total Funds 2024 |
|
|---|---|---|---|---|---|
| £ | £ | £ | |||
| Donations and legacies | 835 | 835 | 324 | ||
| Investments | 8,796 | 18,142 | 26,938 | 23,979 | |
| Separate material item of income |
- | ||||
| Total | 9,631 | 18,142 | 27,773 | 24,303 | |
| RESOURCES EXPENDED | |||||
| Charitable activities | 2,234 | - | 2,234 | 23,208 | |
| Total | 2,234 | - | 2,234 | 23,208 | |
| Net income before investment **gains/(losses) ** |
7,397 | 18,142 | 25,539 | 1,095 | |
| Net (losses)/gains on investments |
2,453 | - | 2,453 | 14,629 | |
| Net movement in funds | 9,850 | 18,142 | 27,992 | 15,724 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 540,402 | 620,422 | 1,160,824 | 1,145,100 | |
| Total funds carried forward | 550,252 | 638,564 | 1,188,816 | 1,160,824 |
Detailed analysis of the Statement of Financial Activities is given on page 5 and 6
Page 3
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST)
Balance Sheet
31 March 2025
| 31 March 2025 | ||||
|---|---|---|---|---|
| Unrestricted funds |
Restricted income funds |
Total 2025 | Total 2024 | |
| £ | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets | 229,793 | 37,451 | 267,244 | 260,596 |
| Investments | 292,063 | - | 292,063 | 289,610 |
| Total fixed assets | 521,856 | 37,451 | 559,307 | 550,206 |
| Current assets | ||||
| Debtors | 1,509 | - | 1,509 | 2,070 |
| Cash at bank and in hand | 28,047 | 601,113 | 629,160 | 611,723 |
| Total current assets | 29,556 | 601,113 | 630,669 | 613,793 |
| Creditors due within Iyear | 1,160 | - | 1,160 | 3,175 |
| Net current assets | 28,396 | 601,113 | 629,509 | 610,618 |
| Total asset less current liabilities |
550,252 | 638,564 | 1,188,816 | 1,160,824 |
| Creditors due after 1year | - | - | - | - |
| Total net assets | 550,252 | 638,564 | 1,188,816 | 1,160,824 |
| FUNDS OF THE CHARITY | ||||
| Restricted income funds | - | 638,564 | 638,564 | 617,247 |
| Unrestricted funds | 550,252 | - | 550,252 | 543,577 |
| Total funds | 550,252 | 638,564 | 1,188,816 | 1,160,824 |
Detailed analysis of the balance sheet is given on page 6
Signed on behalf of the trustees
………………………………………………………… Date ………………………………………………….
I M Whitehead, Chairman
Page 4
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST)
Notes to the accounts for the year ended 31[st] March 2025
1. Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014, and with the Charities Act 2011.
The detailed disclosure required is given on pages 5 to 8.
2. Grants received in the year
No grants were received during the year.
3. Grants paid in the year
No grants were paid during the year.
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST)
Notes to the accounts for the year ended 31[st] March 2025
| Page 5 | |||
|---|---|---|---|
| 4. DETAILED STATEMENT OF FINANCIAL ACTIVITIES | |||
| Year to 31.3.2025 | Year to | 31.3.2024 | |
| £ | £ | ||
| Incoming resources | |||
| Income from investments | 26,938 | 23,979 | |
| Donations | 835 | 324 | |
| Grant received | - | - | |
| ---------- | ------------ | ||
| Total incoming resources | 27,773 | 24,303 |
Page 6
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST)
Notes to the accounts for the year ended 31[st] March 2025
| Resources expended Grant to Mrs Ethelston’s Primary School Expenses, travel etc Site maintenance Insurance Legal fees Total expenditure Excess of incoming resources over resources expended Bank balances as at 1 April 2024 Less expenditure on new school site Bank balances and COIF deposit as at 31st March 2025 DETAILED BALANCE SHEET AT 31st MARCH 2025 607 COIF Charity Fund Accumulation Units 85 COIF Charity Fund Income Units 9,054 M & G Charifund Income Units Cash funds Term Deposit Funds COIF Deposit Fund Lloyds Bank balances - Current Account - Cheque Account - Online Account Triodos Bank Online Account Triodos bank Savings Accounts Cash balance Accrued income M&G Accrued income / (expense) Other assets New school site development costs (analysis on page 6) Total assets Reserves Accumulated general funds at 31st March 2024 (Decrease)/Increase in value of investments during the period Surplus/Deficit for the year |
- 21,772 104 176 1,085 760 700 500 345 |
|---|---|
| 2,234 23,208 |
|
| 25,539 1,095 610,618 640,327 |
|
| 636,157 641,422 6,648 30,804 |
|
| £629,509 £610,618 |
|
31.3.2025 31.3.2024 £ £ £152,940 £156,040 £1,656 £1,737 £137,467 £131,833 |
|
£292,063 £289,610 £577,478 £559,335 £990 £897 £47,854 £34,570 £501 £501 £512 £506 £1,705 £50 £70 £15,795 £50 £70 £1,509 £1,478 £(1,160) £(2,584) |
|
| £629,509 £610,618 £267,244 £260,596 |
|
| £1,188,816 £1,160,824 |
|
| £1,160,824 £1,145,100 £2,453 £14,629 £25,539 £1,095 |
|
| £1,188,816 £1,160,824 |
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST) Notes to the accounts for the year ended 31 March 2025
| Page 7 | ||
|---|---|---|
| 5. New School site costs | ||
| Outline PP | ||
| Consultants | 41219 | |
| Planning fees | 2980 | |
| Architect | 5760 | |
| Miscellaneous | 1326 | |
| 51285 | ||
| Legal fees | ||
| Guinness Trust | 1200 | |
| Village Hall | 1260 | |
| Masters | 3650 | |
| Searches | 220 | |
| Contract | 8435 | |
| Land Registry/ Charity Commission | 1290 | |
| Valuation | 500 | |
| 16555 | ||
| Land | 95000 | |
| Fencing | 319 | |
| Vat reclaimed | -6748 | |
| 156411 | ||
| Planning renewal | ||
| Planning fees | 3080 | |
| Consultants updates | 1980 | |
| Devon Wildlife | 672 | |
| 5732 | ||
| Reserved Matters Application | ||
| 2019-2022 | ||
| Flood risk consultancy Pre-app (AWP) | 1000 | |
| Design consultation & preparation of planning drawings (Net Zero Buildings) | 6500 | |
| Management & delivery of Reserved Matters Application (Net Zero Buildings) | 5000 | |
| Flood risk and drainage technical consultancy,swept path analysis and external | ||
| materials (AWP) | 5500 | |
| Landscaping design (Gyles Morris) | 1248 | |
| Environment Agency Pre-app fee | 700 | |
| Pre-app flood risk consultancy (AWP) | 2000 | |
| Survey update (Benchmark) | 280 | |
| Flood modelling consultancy (JBA) | 6550 | |
| New topographic survey (Benchmark) | 1010 | |
| Reserved Matters Application & planning fees (Net Zero Buildings) | 2837 | |
| Post application transport & highways work for alternative access (AWP) | 1850 | |
| Environment Agency flood modelling review | 550 | |
| Further landscaping development (Barker) | 3800 | |
| Planting schemes (Jenny Short) | 1090 | |
| Environment Agency final review | 200 | |
| Additional design work to incorporate new topographic survey results (AWP) | 8500 | |
| Highways consultation (AWP) | 850 | |
| Retaining wall Masters Close technical drawings | 600 | |
| Non material amendment application (JBA) | 459 | |
| Landscape consultation and design (JBA) | 1600 | |
| CIF | 12000 | |
| Reports on school building etc | 3525 | |
| 67,649 |
Page 8
| Updated reports, fees and planning application and amendments year to 31 | |
|---|---|
| March 2024 in respect of MUGA and car park | |
| EDDC fees | |
| 9,304 | |
| Devon Wildlife Updated report and Bat survey | |
| 1,740 | |
| Relocation of Outdoor Classroom | |
| 5,000 | |
| Benchmark Surveys | |
| 600 | |
| Grid 2 –EV charging points and building design work | |
| 1,500 | |
| JBA – updated flood modelling and attenuation report | |
| 1,080 | |
| Carney Sweeney planning consultants | |
| 3,430 | |
| AWP - flood risk & drainage updated reports | |
| 8,150 | |
| 30,804 | |
| Total at 31st March 2024 | £260,596 |
| Updated reports and negotiations year to 31 March 2025 | |
| JBA further flood modelling | 1,920 |
| AWP Drainage update and flood risk management | 3,050 |
| Carney Sweeney planning negotiations and consultations | 1,678 |
| -------------------- | |
| 6,648 | |
| Total costs to 31st March 2025 | £ 267,244 |
ETHELSTON AND BESTIC SCHOOL FOUNDATION (THE BESTIC TRUST) Page 9
INDEPENDENT EXAMINERS REPORT
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2025.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
………………………………………………………………………….. The Jeffery Partnership Ltd. Chartered Accountants
Date……………………………………………………………………..