REGISTERED CHARITY NUMBER: 31)6969
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
Acuity Professional Partnership LLP
Unil 2.02
High Wea]d House
Glovers End
Bexhill
East Sussex
TN39 SES

MAGDALEN AND LASHER EDUCATIONAL
FOUM)ATION
CONTENTS OF TRE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Relerenee and Administratlvt Det#ils
Report of the Trustees
Report of the Independent Auditors
Statement of Financia] A¢tAvities
Statement of FlnanciAI Positlon
10
Notes lo the Flllanel￿ Statement8
11 to 17
Detailed Staternent of Actiirytie$
18 to 19

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
REFERENCE AND ADMIIYJSTRATtVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES
Mr K S Donaldson
Mr G Bendon
Mr l M Steel
Mr M Foster
Mr C Galbraith Chairn)an
Mrs S Phillips
Mrs A Wing
Cllr J Bacon
Dr P Lock
Mr J Bilsby
Mrs J Cubison (resigned 301412023)
Mr M Boles
Rev M Phipps (appointed 111912023)
PRINCIPAL ADDRESS
Old Hastings House
132 High Street
Hastings
East Sussex
TN34 3ET
REGISTERED CHARITY
NUMBER
306969
AUDITORS
Acuity Prufessional Partncrship LLP
Unit 2.02
High Wcald House
Glovers End
Bexhill
E&st Sussex
TN39 SES
TRUSTEES EMERrrus
A Slack
G R D Kellie
Page I

MAGDALEN AIYD LASHER EDUCATIONAL
FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial stalemenls of the charity for the year ended 31 March 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities: Ststement of Recommended Practice
appltcable to charities preparing their accounts in ac¢ordanc£ with the Financial Reporting Standard applicable in tbe UK
and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTJVES AND ACTIVITIES
Objectives and Adivities
The charity has the following objects, namely:
For the benefit of persons in need of financial assistan¢¢ who are residents of the Borough of Hastings or who have
attended schools in the Borough for Tnote than 2 years to..
a) award to bencficiaries scholarships, bursaTiCS or maintenancc lenable at any school, univcrsity or other place of
learning approved by the Trnstees"
b) provide financial assistance (inGluding assistsnce in kind) to help beneficiaries l¢aving ￿h0O1, university or other
places of Icarning to prq)are for or en*r employment;
c) award scholarships or maintenan¢¢ 10 enable benefi¢iaTies to PUT5U¢ their educalion"
d) provide assistsnce for the Provision of facilities not CU￿entlY provided by the Local Education AuthoritylAcademy
sponsor foT re¢reation and for social and physical training including sports coaching. and
e) provide financial assistance to enable beneficiaries to study music and the arts and otherwise to promote education.
The Board of Trustees has delegated day-tfrday managemenl of the Foundation's activities to its Education Committee
(EC), comprising four Trustees and chaired by Jobn Bilsby. The EC'S delegation Includ￿ the powcr lo thke all decisions
up to a value limit of £5.000, provided that the decision is consistent with the policies approved by the Board. All matters
which derogJied from the approved policies or which excceded £5,000 aTC lef¢￿ed to the Board for dccision. Thc EC
submitted a stewardship report to each quarterly meeting of the BodTd delailing its decisions in the preceding quarter.
Working to a budget. the EC met four times during the year and confetred frequently by e-mail, thus ¢nabling grant
applications to bc delernlined promptly. They awaTded'.
3) University buTsaries and grants-in-aid to individuals ttbtalling £33,025
b) Major and miJ)or grants to schools and other institutions lotslling £160,676
Two generous bequests from Miss Norn]a Batl¢y at)d Mr Der¢k Hibberl with the object of promoting musical education
in Haslings. are being administered by the ChaTity as th¢ Batley-Hibbert Fund. Included in the fJgur¢s above, in the year
ending 31 March 2024, grants amounting to £10,335 were nlade from the Batley-Hibb¢rt Fund. Also included were
pa>￿entS made totalling £41,546 from the William Parker Foundation (IVPF) Fund.
The total value of granls ¢tc. awarded in th¢ year ended 31 March 2024 was £193,701 {2023 £195.937).
Page 2

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Public benefit
All educational grants to individuals are means tested and help to impiove educational opporiuDities for le55 well off
s￿dents. All grants to institutions facilitsle enhancernents lo educational provision which might not othenvise happen.
Major GraDls involvc leverage and may encouragc long-terni innovation through secd-corn funding.
The Trustces are required under the conslilution of the ChaTity to preparc fu￿]Cial slatements for each financial year,
which give a true and fair view of the slate of atyairs of the Charity and of its results for that period. In prepaTing those
financial statements the Trustees arc required to follow bestpractice and..
a} select suitable accounting policies and apply them consistently-
b) make judgem¢nts and estimates that are reasonable and prndent.
c) state wh¢thcr applicable a¢counting standards have been followed, subject to any material departures disclosed and
explained in the financial statements- and
d) prq)are the fmancial statements on a going concern basis unless it is inappropriat¢ to presume that the Charity will
ontinue in operation.
Th¢ Tn￿tee$ ale responsible for maintaining proper accounting records which disclose with reasonable accuracy at any
lime the financial position of the Charity and enable them to ensure that the fmancial statements comply with the
Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence taking re￿$nable
steps for the detection and prevention of fraud and other irregularities.
The Tn￿tee8 of the Charity Must, in detennining how amounts are presented within items in the statement of financial
activities and balance sheet, have regard to the substance of the reported transactions OT arrangement, in accordance with
the generally ac¢epted accounting principles and practice.
The Use of Volunteers
The charity makcs no use of volunteers.
FINANCIAL REVIEW
Investment policy
Other than property and cash at bank. the bulk of assets of the Charity are invested with the Charities Official Inve&lment
Fund (C.OIF). The cbarity also has an investment in thc M&G Inve.8tments' Clwifund. All sales and purchases uf capital
assets are made with the approval of the Board of TTUStees OT the Finance and General Purposes Committee F&GPC, in
accordancc with the Charity's Scheme of Delegations.
Rental income reprcsents a 3.2 % gr08s (1.42 /0 net) Teturn on the inv¢stment piuperty portfolio's mark¢t value of Marcb
2024 of £2.340,000.
The COIF and M&G share investments have provided a dividend return of 2.7 /0 whilst their capital va]ue has increased
by 8.6/0 over the year.
The F&GPC, reporting to th¢ Board of Trustees, contiuues to review investments r¢gularly consultiT)g its investmellt
advisers when required. The market continues to be relatively turbulent and the committee considers as appropriale its
policy of keeping the bulk of ils investments in COIF. COIF continues io provide a comparatively reasonable rettm) in
secure manner. The smaller investment in M&G gAv¢s some variety to the portfolio and it also has produced a reason&ble
return and growth in a s&fe place in the Gurrent maTket.
Page 3

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 ￿(ARCH 2024
FINANCJAL REVIEW
Reserves polley
Thc free r&serves, which are those unrestricted funds not inveslcd in fixed assets OT propcrties held for investment,
designated for specific purposes QT otherwise committed. are represented by net CUTrenl assets and ￿ndS held on deposit
with CCLA. Treasury managcmcnl of the ChaTity's cash reseTves is delegalcd to th¢ F&GPC. The TTuslees forn)ally
consider the Charity's cash reserve5 at each of Iheir meetings.
At 31 March 2024 the free reserves lotalled £322,168 (2023: £296,504). Trustees are risk averse and view the present
level of rescrves as appropriate and pn]dcnt, having regard ￿ the Charity's current actsvities. They wTrll aim to relain
r¢setYes of these levels as a minimum for the foreseeable fUtt￿. Trustees remain conscious of the need to hold sulTicient
reserves to manage risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is run by a Board of TTUStces which delegates some of its ￿nCtIonS to committees. Th¢ Chairnian is Clive
Galbraith. The various management committees and the Admintstralor of the Charity, who is Mrs Marcia Woolf, Tun the
day-to4ay operdtions.
Th¢ charity originated prior 10 21 March 1294 bul is now governed by a sclLeme of the Charity Commissioners made on
12 Febnwy 1951, as amended in 1965, 1981, 1989 and 2020.
Related parties
The Cllarity's Trustees are TTUStees of the Magdalen & Lasher LTharity General Fund and Magdalen & Lasher Old
Hastings House CTO.
Risk management
The Charity's Tn￿le¢S have considered the major risks to which the Charity is exposed and have established systems and
procedurcs lo manage those risks. The Trustees keep their risk policy under regular review and act as necessary.
Polltlcal CoDtributions
The Charity madc no political contributions.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The ITUStees are rc5ponsible for prcparing the Report of the TTUStces and the fiDaucial staternents in accordance with
applicable law alld United Kingdom Arcounling StandaTds (Uniled Kingdom Generally Accepted Accounting Practice)
including Financial Reporting Standard 102 "The Fin8nctal Rcporting Standard applicablc in the UK and Republic of
Ireland"
The law applicabl¢ to charities in England and Wales. thc Charities Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the wovisions of the trust deed requires the ttuslees lo prepare financial slatemenls for each
fU￿nClaI year which gtve a true and fair vi¢w of the state of affairs of the charity and of the incoming iesoutces and
appliution of resources, including th¢ income and expelld1￿re, of the charity for that period. In preparing those financial
statements, tlie ttmstecs ar¢ Tequired to
select suitable 3c¢ounting policies and then apply th¢m consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and pNdent'
prepare the financial statements on the going concern basis unless il is inappropriate to presume ihat the charity will
¢ontinue in business.
Page 4

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES- ¢ontinued
The trnstees are responsible for keeping proper a¢counting records which disclose with reasonable accuracy at any time
the financial position of the charity and to enable them to ensure that the fmancial statements comply with the Charities
Aci 2011, the Charity (Accoujts and Reports) Regulations 2008 and the provisions of the tmsl deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention und
detection of fraud and other itregularities.
2 •//."
Apptoved by order of the board of Iruste¢s on ...........
. and signed on its behalf by..
Mr C Galbraith - T￿￿tee
Page 5

REPORT OF THE INDEPENDEiYf AUDITORS TO THE TRUSTEES OF
MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
Opinion
We have audiied the fmancial ￿a1¢M¢llts of Magdalen And L&sher Educational Foundation (the 'charity'} for the year
ended 31 March 2024 whi¢b comprise the Siaternent of Financial Activities, the Statement of Financial Posiiion and
notes to the fJnan¢ial statements, including a surnmary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'Tbe Financial
Reportitig Standard applicable in Ihe UK and Republic of Ireland,.
In our opinion Ihe financial ststements:
give a true and fair view of Ihe stale of the charity's affairs as al 31 March 2024 and of its incorning resources and
application of resources, for the year then ended.
have been properly prepared in ac¢ordance with United Kingdoin Generally Accepted Accounling PrdCti¢e, including
Financial Reporting Standard 102 'Th¢ Financial Reporting Stsndard applicable in the UK and Republic of Ireland,.
and
have been Prepared in accordance with the requirements of the Charities Act 2011.
Basis for oplnion
We conduct¢d our audit in accordance with International Slandards on Auditing IUK) (ISAS (UK)) and applicable law.
Our responsibililies under tbos¢ standards are thrther described in the Auditors, responsibilities for the audit of the
financial ststements se¢tion of our report. We are independent of the charity in accordan¢e with the ethical requirem¢nis
that are relevant to our audi¢ of the financial slatements in the UK, including the FRC'S Ethical Standard, and we hav¢
fiilfill¢d our other ethical responsibilities in accordance witb these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going eoneern
In auditing the finaneial statements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Bas¢d on the work we have perforn)ed, we have not Adejitified any material uncertainties relating to events or conditions
thaL individually or collectivelyj may cast significant doubt on the charitys ability to continue as a going conc¢Tn for a
period of at least twelv¢ months from when the finan¢ial statements are authorised for issue.
Our responsibilities and the responsibilities of the trnstees with respect lo going conceTn are described in Ihe relevant
sections of this report.
Other informgtion
The trustees are responsible for the other inforniation. The other infomiation comprises the infonnation included in the
Annual Report, other tban the fmancial statements and our Report of the Independent Auditors thereon.
OUT opinion on the financial sts*ments doe5 not cover tbe other infornialion except to the extent oihenvise
explicitly stated in our report, we do not express any forni of assurance conclusion thereon.
In connection with our audit of thc financial statements, our responsibility is to read the otheT infornlation and, in doing
$0, consider whetber th¢ other infonnalion is materially in¢onsislent with the fmancial statements or our knowledge
obiained in the audit or otberwise appears lo be materially misstated. If we identify such rnalerial in¢onsistencies or
apparent material misstatements. we ar¢ required to d¢tern)iDe wheiher this gives rise lo a material misstatement in the
financial slatments themselves, If, based on the work we have perfonn¢d, we conclude that there is & material
misstatement of this other infom?ation, we are required to report that fact. We have nothing lo report in this regard.
Matters on which we are required to report by ex¢¢ptlon
We have nothing to report in respecl of the following matters where th¢ Charities (A¢¢ounls and Reports) Regulations
2008 requires us to report lo you if, in our opinion:
the infom]alion given in the Report of the Ttustees is inconsislent in any material respect with Ihe financial statements.
or
sufficient accounting records have not be¢n kept. or
the fmancial statements are nol in a￿eement with the accounling records and relum$,' or
we have not received all the infonnation and explanations we require for our audit.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
MAGDALEN AND LASHER EDUCATIONAL
FOUNDATIOIY
Responslbllities of trustees
As explained more fully iti the Statement of Twslees, Responsibilities, the trustees are responsible for the preparation of
the financial statements which give a true and fair view, and for such internal control as the trustees deterniine is
necessary to enable ihe pr¢paralion of financial statements that are free from material misstatement, wbether due to fraud
or etror.
In preparing the financial statements, the th￿ee$ are responsible for assessing the charity's ability to continue as a going
con¢¢rn, disclosing, &$ applicable, matters related to going con¢ern and using the going concern basis of accounting
unless the trustees either intend to liquidate the charity or to cease operations, or have no re￿IStiC alternpltive but to do so.
Our responslblllties for the xudlt of the IlnaD¢lal statements
W¢ hav¢ been appointed as auditors under Section 144 of the Charities Acl 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the fu￿nCIal statemenls as a whole are free from
material rnisstalement, whetheT due to fraud or error, and lo issue a Report of the Independent Auditors that includes our
opinion. Re8sonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misststement when il exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate. they could reasonably be expected to infiuence the
economic decisions of users tsken on the basis of ihese financial statements.
Th¢ extent to which our procedures are capable of detecting i￿¢su}anties, including fraud is detailed below..
We were engaged to audit th¢ financial stalements for curr¢ht year figures. However, the comparative figures for the year
ended 31st March 2023 were not audited. As such, we do not express an opinion on those comparative amounts."
We have assessed the susceptibility of the entity's fuwicial statements to materia] misstatement, including how fraud
might occur, as low by way of enquiry, prior knowledge and current year analirtical review and testing
W¢ have enquired with management and those charged with goveTfLance to obtain an understanding of the legal and
regulatory framework applicable to the entity an￿ through our audit testing. our findings have conf1rn￿d that the entlty is
omplying with the relevant frameworks
We have enquired with management and those charged with governance to obtain an understanding of the entity's
policies and procedures relating lo compliance with laws and regulations. Through our testing, we bave reviewed all
relevant do¢umentslion and confmn that there have been no instances of n(m- compliance
Through enquiry, anals¢ical review Imd substsntive testing w¢ have obtained an understanding of the entitys policies and
procedures on fraud risks, including knowledge of any actual. siispected or alleged fraud.
We have confirni¢d that the engagement team colle¢lively had ihe appropriale Competence and Capabilities lo identify or
recognise non-comph'an¢e with laws and regulations and fraud
Lisled above is the extent of PToc¢duTes we have iaken to detecl material misstatements in respect of Irregul￿111¢S.
including fra￿￿ to which we have found no inSL￿Ces.
Because of the inherent limitations of an audit, tbere is a Tisk thal we will not detect all irregularities, including those
leading lo a material misst8l¢menl in the financial slalements or non-complian¢e with regulation. This risk increases the
more that C4)mplian¢e with a law or regulation is removed fTom Ihe events and transactions reflected in the financial
statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding
irr¢gulariti¢s occurring du¢ to fraud rather than emr, as fraud involves inl¢ntional concealm¢Dt, forgery, collusion,
omission or misrepresentation.
A fijrther description of our Tesponsibilities for the audit of the financial statements ks located on the FinaDcial Reporting
Council's website al www.fr¢.org.uklaudiloTsT¢swynsibilities. This description fonns part of our Rep)rt of the
Independent Auditors.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
Use of our report
Thi5 report is made solely to the charity's trustees: as a body, in accordance with Part 4 of the Charities (Accounts and
Rcports) Regulations 2008. Our audit WOTk has been iindertakcn so that we might state to thc clthrity's trustees th05C
matters we ￿¢ required to state lo them in atk auditors, report and for no other purpose. To the fullest extent pertnitted by
IRW. we do not accept or assumg responsibility to anyone other than the chaTity and the charity's trustees as a b(Kly, for
our audil work, for this r¢port, or for the opinions we have forn]ed.
Acuity Professional Partnership LLP
UDit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 SES
Date: ...
27.01.2025
Page 8

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
STATEMEIYT OF FINANCJAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrestricled
funds
2023
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,114
230
Investment inLome
272.872
276,441
Tolal
273986
276,671
EXPENDITURE ON
Cbarltable activities
Major & Minor Grants
Cllznts in Aid and BursaTies
Governance costs
160,676
33.025
8,777
139,430
56.507
7.976
Rental Propety Expenses
40,593
21,826
Total
243,071
225,739
Nel gainsl(Ios5es) on investments
789,580
{296,877)
NET INCOME/(£XPEM)rruRE)
820,495
{245,945)
RECONCILIATION OF FUNDS
Total funds brought forward
9,265,516
9,511,461
TOTAL FUNDS CARRIED FORWARD
10,086,011
9,265,516
The notes forni part of these financial statements
Page 9

MAGDALEN AP4D LASHER EDUCATIONAL
FOUNDATION
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024
Unrestrlcted
funds
2023
Total
funds
Notes
FIXED ASSETS
Investmemts
Inveslmenls
Jnvestment property
7,423,843
2J40,000
6,839,012
2,130.000
9,763,843
8,969,012
CURRENT ASSETS
Debtors: amounts falling due within one year
Cash al bank
1,061
344,872
1.061
313,935
345,933
314,996
CREDfToRS
Amounts falling du¢ within one yeaT
(23,765)
(18,492)
NET CURRENT ASSETS
322,168
296,504
TOTAL ASSETS LESS CURREI¥T
LiABILITIES
10,086,011
9,265,516
NET ASSETS
10,08fi,011
9.265,516
FUNDS
io
UnTestTiCted funds..
GencTal Fund
Batley-Hibbcrt
William Parker Designated Fund
6.990,792
596,005
2,499,214
6,369,560
544,269
2,351,687
10,086,1111
9,265,516
TOTAL FUNDS
10,086,011
9265,516
The finaD¢ial slatemcnts were approved by the Board of T￿￿teeS and authorised for issue on
and were signed on ils b¢half by..
//--
Mr C Galbraith - Trustee
The no*s forni part of these f)Dancial statements
Page 10

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATJON
NOTES TO THE FINAI¥CIAL STATEMENTS
FOR THE YEAR EIYDED 31 MARCH 2024
ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
Thc financial statements ot. the chariry, which is a public benefit entity under FRS 102, have been prepared in
accordance with thc ch￿ItieS SORP {FRS 102) 'Accounting and Reporting by Charilies." Ststement of
Recommended Praclice applicable lo charlties preparing their accounts in accordance with the Financial
Reporling Standard applicable in the UK and Rcpublic of Jreland (FRS 102) (effective l January 2019),,
Financial Rcporting Standard 102 'The Financial Reporting Stsndard appllcable in the UK and Republic of
Ireland, and the Charities Act 2011. The financial statemeots have been preparcd under the histOTical co51
convention. with the exception of investments which are included at market value, as rnodificd by ihe revaluation
of certain asscts.
The address of the principal place of operation is given in th¢ charity infonnation appendcd to these fll)ancial
stat¢ments. Th¢ nature of the chaTity'S operalton5 and principle activities are shown in th¢ report of the trnste¢5.
The financial staiements are PTepared on a going concern basis under the historical cost convention. modified to
include ¢ertain items at fair value. Th¢ fjnancial statements are pres¢nted in sterling which is the functional
Currency of the cbarity and rounded to the near¢st £1.
The significant accounting policie5 applied in the preparation of these financial srntemenls are set out below.
These policies have been consistently applied to all years ptescnted unless othmvise stated.
INCOMING RESOURCES
All income resouxes are included m the Statement of Financial Activities (SOFA) when the chariry 18 legally
entitled to the income after any perfornian¢¢ conditions have been met, the amount can be m¢asured reliably and
it is probable thai the income will be received.
For donations to be recognised the charity will have been notified of tbe amounts and the selllement date in
Writing. If there are Conditions attached to the donation and this requires a level of perforniance befoTe entitlement
can be obtained then the income is deferred until those conditions are thlly met OT the fijlfilmenl of those
conditions is within the control of the charity and it is probable ihal they will be fulfilled.
For legacies, cntiilement is thc carlier of the charity being notified of an impending distribution or the legacy
being rcceived. At this point income is recognised. On occasion legacies will be notified to the charity however it
is not possible to measure the amount expccted to be distributed. On these occasions. the Icgacy 15 trealed as a
ontingent as5¢t And disclosed.
Investment income is earned th￿Ugh holding assets for invcstment purposes Such as shares and property. It
includes dividends. interest and r¢nt. Where it is not practicable to idcntify investment management costs Incu￿ed
within a schcme with reasonable accuracy the investment income is reported nel of these costs.
EXPENDITURE RECOGNITION
All expenditUTe is accounted foT on an accruals basis and bas been classified under headings that aggregate all
costs related to the category Expenditure is recognised where there is a legal or consttuctive obligation to make
payments to third parties. it is Probablc that the settlemcnt will be required and the amount of the obligation can
be measured reliably. Tt is calcgorised under the following headings:
Costs of raising ￿ndS includes expenses dir¢¢tly related to fimd raising, such as advertising a fundraising event.
Expenditure on charitable activities includes expenses involved in th¢ running of charitable projects, such as staff
salaries. Other expenditure represents tho% items not falling into the categori¢s above.
Grants offered subject to condilions which have not been met at the year end date are noted as a commitmeni bul
not accN¢d as expenditure.
Pagell
onlinued..

MAGDALEN AND LASllER EDUCATIONAL
FOUNDATIO
NOTES TO THE FINANCIAL STATEMENTS - tontiDued
FOR THE IEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES - ¢ontinued
INVESTMENT PROPERTY
Investments are stated al market value at the balance sheet dale. The realised and ut)realised gains and losses are
included in the Ststement of Financial Activities.
TAXATION
The Q>mpany is a registered chaTity and no liability to tax arises.
FUND ACCOUNTING
UnTe5tricled funds are available for use al the discretion of the trustees in furtherance of the general objeclives of
thc charity and which have not been designated for other pury)os¢s.
Designated funds comp05e unrestricted funds that have been set aside by the tnjstees for panicular PUTposes. The
aim and use of ¢a¢h designated fund is set out in Ihe report of trwlees.
Restricted funds are funds which are to be used in accordan¢¢ with specific restrictions imposed by the donors or
which have been Taised by the charity for PartI￿18r pun)oses. The cost of rasing and administering such fvnds are
charged against the 5pe¢ific fund. The aim and use of ¢a¢h specific fund is sel out in the note5 to the finaD¢ial
slatements.
DEBTORS
Debtors are Tecognised at the settlement amount due.
CREDITORS
Credilors are recognised where the charity has a pres¢nt obligation ￿suItIng from a past event that will probably
result An the transfer of funds lo a third party and the amouni due (o settle the obligation can be measuTed.
GOING CONCERN
The financiaI stalem¢nts have been prepared on a going concern basis as the trnstees believe Ihat no mai¢ri&l
uncertainties exisl. The trustees have considered the level of funds held alld the expected level of income and
e%penditLwe for 12 months from authorising these financial statements. The budgeted income and expenditure is
sufficient with the level of reserves foT the charity lo be able to continu¢ as a going concern.
FIXED ASSET INVESTME]YTS
Fixed as.set investments are initially rn¢asured at transaction pric¢ excluding tran58¢tion costs, and are
subsequently measured at fair value at each reporting date. Changes in faiT value are recognis¢d in net
income/{expenditure) for tbe year. Transaction costs are expensed as Incu￿¢0.
DONATIONS AND LEGACIES
2024
2023
Donations
Sundry income
1,114
230
1,114
230
Page 12
conlinued...

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL.STATEMENTS - eontinued
FOR THE YEAR ENDED 31 MARCH 2024
11¥4VLSTMENf INCOME
2024
2023
Rental income receivable
Dividends
73,725
199,147
73,679
202,762
272,872
276,441
SUPPORT COSTS
Support costs are those that assist the work of the charity but do Dot directly reP￿Sent charitable activities and
include otri¢e costs, governance costs, administrative payroll costs. They are incutt￿ directly in support of
expenditure on the objects of the charity and in¢lude project management carried out ai he8dquart¢ts. Nvhere
support costs cannot be directly altTibuted to particular headings they have been allo￿ted to expenditur¢ on
haritable activities on a b8sis ¢onsistent with use of resources. Premises overh¢ads have been allocated by a
calculation based on the amount of time Ihal an activity uses a facility and the floor area occupied by that activity
and other overheads h8ve been allocated on a staff hours basis.
TRUSTEES. REMUNERATION AIYD BENEFITS
There were no ttustees. r¢muneration or other benefits foT thc year ended 31 March 2024 noT for thc year ended
31 March 2023.
TRUSTEES. EXPENSES
There were no trustees, expenses paid for the year ended 31 March 2024 nor foT the year ended 31 March 2023.
FIXED ASSET INVESTMENTS
Listed
investments
Mark¢¢ value
At l April 2023
Additions
Revaluations
6,839,013
5,250
579580
At 31 March 2024
7,423,843
Net book valut
At 31 March 2024
7,423,843
At 31 March 2023
6.839.013
There were no investment assets outside the UK.
Lis*d Investments - General
Listed inveslments- Batley HiTrybert Designated Fund
Listed investtnent- William Parker Desigmated Fund
4,916260
565,991
1,941,592
4,484,180
519,011
1,835,816
Totsl
7 423 843
6 839 013
Page 13
continued...

MAGDALE]Y AND LASHER EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCiAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMLNT PROPERTY
Fair value
At l April 2023
Revaluation
2,130,000
210,000
At 31 March 2024
2J40,000
Net book value
At 31 March 2024
2J40,11110
At 31 March 2023
2.130,000
Fair value at 31 March 2024 is represented by-
Cost
2J40,000
The investment properties were valued independcnily in September 2019. For all properties, save for two
inherited at th¢ meTger with the William PaTk¢r Foundation (WPF), Oakfield Estate Agents aTe the Charity's
rental agents. They have no other connection with the Trustees. M¢ridian Surveyors continue to manage the two
ex-WPF properties on behalf of the Charity. Mr M Boles is a Trnstee and also a partner at M¢ridian SuTveyors.
DEBTORS: AMouNfs FALLING DUE WITHIN ONE YEAR
2024
2023
Rent arreaT5
1,061
1,061
CREDITORS: AMOUTh FALLING DUE WITHIN ONE YEAR
2024
21123
Other creditors
Grants in aid - Bursaries
AC¢n￿lS and deferred income
5,112
14,800
3,853
14,800
3,692
23,765
18,492
Page 14
)ntinued...

MAGDALEN AND LASHER EDUCATIONAL
FOUIYDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
io.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unre$trReted funds
GeneTal Fund
Bailey-Hibbert
William Pa￿eT Designated Fund
6J69,560
544,269
2JSJ,687
621,232
51,736
147.527
6,990,792
596.IH)5
2,499,214
9265,516
820,495
10,086,011
TOTAL FiIIYDS
9265,516
820,495
10,086,011
Nel movement in funds, included in the above are Aq follows:
Incomlng
resources
Resources
expended
Gyin5 #Thd
losses
Movement
in ￿ndS
Unrestri¢ted funds
General Fund
Bailey-Hibbert
William Parker Designated Fund
185,695
15,091
73,2VO
(183286}
(IOJ35)
(49,450)
618.823
46,980
123,777
621,232
51,736
147,527
273,986
(243,071)
789.580
820,495
TOTAL FUNDS
273,986
(243,071)
789,580
820,495
Comparatives for movement im fund5
Net
movement
funds
At
31.3.23
At 1.4.22
Unrestricted funds
General Fund
Batley-Hibbert
William Parker Designated Fund
6,558256
559,840
2,393.365
(188,696)
(15,571)
(41,678)
6,369,560
544,269
2,351,687
9,511,461
(245,945)
9,265,516
TOTAL FUNDS
9,511,461
(245,945)
9,265,516
Page 15
continued...

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 21b24
io.
MOVEMENT IN FUNDS- continued
CompaTative net movement in fi￿d5, in¢luded in the above are as follows:
In¢omlng
resources
Resources
expended
Gains and
losses
Movement
In funds
Unrestricted funds
Genera] Fund
Batley-Hibbert
William Parker Designated Fund
184,781
15,091
76,799
(199.959)
(10,250)
(15,530)
(173,518)
{20,412)
(102,947 }
(188.696)
(15,571)
(41,678)
276,671
(225,739}
(296,877)
{245.945 }
TOTAL FUNDS
276,671
(225,739)
(296,877)
(245,945)
A current year12 months and prior 12 months combined position 15 as follows:
Net
movement
in funds
At
31.3.24
At 1.4.22
Unrestrieted funds
General Fund
Bat1ey-Hi￿beft
William Parker Designated Fund
6,558,256
559,840
2,393,365
432,536
36,165
105,849
6,990,792
596,005
2.499,214
9,511,461
574,550
10,086.011
TOTAL FUNDS
9,511,461
574,550
10,086,011
A cu￿en1 ye8T 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows:
Incoming
esourc¢s
Re$our¢e$
expended
Gains and
losses
Movement
ID fuDd$
Unrestrieted funds
General Fund
Batley-Hibbert
William Parker Designated Fund
370,476
30.182
149.999
{383.24S)
(20,585)
(64,980)
445,305
26,568
20,830
432,536
36,165
105,849
550.657
(468,810)
492,703
574,550
TOTAL FUNDS
550,657
(468,810)
492,703
574,550
Page 16
continued...

MAGDALEN AND LASHER EDUCATIONAL
FOUNDA TJOIY
NOTES TO THE FINANCIAL STATEIIIENTS - contiDu¢d
FOR THE YEAR ENDED 31 IVIARCH 2024
JJ.
RELATED PARTY DISCLOSURES
The charity's trustees are also responstble for the activities of the Magdalen & Lasher Charity General Fund and
Old Haslings House Charitable Inco4xiraled Organisation.
12.
UNREALISED GAINS/(LOSSES) ON INVESTMENTS
2024
2023
COIF Investments
tnvestment propety
579,580
210,000
{290,874}
Total
789J80
(290.874)
13.
INDEPENDENT EXAMINER REMUNERA TION
The charity has inCUr￿d Independeni Examiner fees for the year totalling £1,766 (2023 - £1,620).
Page 17

MAGDALEN AND LASHER EDUCATIONAL
FOUNDA TION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
INCOME AI¥D ENDOWMENTS
Donations and lega¢ies
Donations
Sundry incollj
1,114
230
1,114
230
Investment income
Rental in¢ome receivable
Dividend5
73,725
199,147
73,679
202,762
272,872
276,441
Total 5ncomfing resource5
273,986
276,671
EXPENDITURE
Charitable aellvltl¢$
Major and Minor Grants
Grants in Aid and Bursaries
130,441
63,260
139,427
56,507
193,701
195,934
Rental Property Expenses
Insurance
Expendithre on properties
Comrni5sion to Smart Property Solutions
Commission to Meridian Propert
3,138
27,903
7,617
1,935
3,491
9,432
7,115
1,788
40,593
21,826
Support costs
Governance costs
Contribution to OHH office c05És
Independent examination fees
Bank chaTges
Contribution to OHH payroll costs
2,377
1,766
85
4,549
1,258
1,620
69
5,032
8,777
7,979
Total resources expended
243,071
225,739
Net Incorne before g*lns and losses
30,915
50,932
This page does not forni part of the statutory financial statements
Page 18

MAGDALEN AND LASHER EDUCATIONAL
FOUNDATION
DETAILED STATEMENT OF FllYANCIAL ACTIVITIES
FOR THE YEAR EIYDED 31 MARCH 2024
2024
2023
Realtsed recognised galn$ and losses
Realised gainsl(Ios5es) on fixed asset investments
(6,003)
Iyet income
30915
44,929
This page does not forn) part of ihe statutory financial statements
Page 19