THE KEI%DRICK FOL'h'DA TIOI
CHARITI, REGISTRA TIOIY LYO: 309072
THE KEYI DRICK FOUIYDA'fioN
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE KELYDRICK 14'OL'Il'DATIOI%'
CHAIUTI, REGISTRA TIONI LN'O: 309072
ANI¥4UAL REPORT AND FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CONTEW'rs
Page
Report of the Trustee
Independent Examiner. s Report
Statement of Financial Activities
Balance Sheet
CRsh Flow Statement
Notes to the Financial Statements
8-11

THE KEi%DIUCK FOL',%'DA TIOA
CHARITY REGlS'fRA TIOII L%0: 309072
TRUSTEE:
The Kendrick Trust whose appotnted tmslees are :_
Mityliael Page (Cliaii-niwi)
Karen Bossom
Marsha Carey - Elms
Claire Connell
Virginia Cullura (resigned 25.5.2024)
Samantha Kumra
Jean Elliott
Roger Garrick (Secretary)
Michael Wall
Keith Miller
Charles Ramsden
PRINCIPAL ADDRESS:
Kendrick School, London Road. Reading. Berkshire, RGI 5BN
INDEPENDENT EXAMINER:
Holy Brook .4ssociateg1 Curious Lodye, I, Floor PinnBcle Building. Tudor Road. R¢4din¥,
Berkshire. RGI INH
SECRETARY..
Roger Garrick, Company Secretary, The Kendrick Trust Ltd.
BANKERS:
Lloyds TSB. Market Place Branch, l Market Place. Readin& Berkshire, RGI 2EQ
SOLICITORS:
clark5je￿I, One Forbury Squar4 The Forbury, Readin% Berkshire, RGI 3EB
INVESTMENT ADVISORS:
CCLA, One Angel Lane, London EC4R 3AB

A'vui*DA
L¢ll VLV illARknu &v&4•
Trust Deed
The Kendrick Foundation was fornied by a Scheme approved by The Charity Commissioners for England and
Wales dated 9 March 1998 as mi)dified by subsequent orders dated 23 January 2002, 7 March 2003, 30 March
?n(M ￿nA ?nth tlprppi.h*r ?n17
Registration
The Foundation was re8iStered with the Charity Commissioners for England and Wales on 9 March 1998 and
ven th¢ re8istration number 309072.
T4.￿5{re
The tnjstee of the Kendrick Foundation is the Kendrick Trust, a company limited by guarantee. The directors
of the Kendrick Tnjsl during the year under review w¢re'.
F*fichael Pa8e (Chairnian)
R fT!ITrii.k I4￿.T￿t￿.T
Karen B0550m
Marsha Carey-Elms
Claire Connell
Vir8inia Cullura (resigned 25. 5.2024)
Samantha Kimra
Jean Elliott
Michael Wall
Keith Miller
Charles Ramsden
The number of directors within the Kendrick Trusl shall not be more than I l and so long as there shall be less
than 2 directors, none of the power or di￿retIOnS veAted in the directors Shall be exercisable except for the
purpose ot. appointing a new director or directors.
None of the directors noted above receive remuneration for the time speni on the atyairs of the Foundation.
Roger Garrick was reimbursed £13 for expenses incurred in filing the annual return for ihe Kendrick Trust
with Companies House. No other out of pocket expenses were paid to. or in respect of, the directors for the
year ended 31 March 2024.
LJIA￿lvl i¢bi Uit¢u Wiirii i r4uii ru iiuiii 4iLii?il¥ yrOyLf IVILii ali Jiiiri rii iii k¢iiuii¥k s￿J1￿)i)i, IlVlljLiiaiiviii
may be s￿ght from the Kendrick Parents, Society (KPS) or the Kendrick Old Girls, Association (KOGA)
Induction and trainin8 is by means of infornial mentorin8 by the chairn)an and other trustees.
The charity has no employees.
The directors meel as required, generally once or tivice per annum, to receive reports. to oversee and
recommend payment of grants, to review the Foundation, 5 investment perfornjance in the light of appropriate
professional advice and to approve the Foundation's annual accounts and trustee's report. There are two
committees of directors. The Grants committee considers and detern)ines applications for granls within the
charits s qrant-rnakln￿ Dolicv and the Finance Committee reoularlv reviews investrnent performance with the
Investment Mana8ers. Only very minor decisions are taken without reference to the directors.
Page I

A. VVIIVA A AVII
LAAAIU A I7V* JV7V I
Aims and Objectives
The aims and objectives of the Kendrick Foundation are to advance the education of the beneficiaries. namely
the pupils and forn]er pupils of Kendrick Girls. School in Reading.
i) makin8 grants to the school and to current and recent students. The trust nornia]ly makes available up to
900/0 of the previous year's unrestricted income for distribution in the current year.
ii) maintainin8 the value of its assets for the benefit of future generations of Kendrick pupils and. in
particular, to rebuild the capital value previously represented by the playing field sold in 2004.
R¢w of a¥kii¢¥eilAriiÉa lib¥" iiir yr#i
Incom¢ was £S8,024. £1.970 more than the previous year. The increase was in interest received due to the
ontinuing rise in interest rates experienced in 2023. Dividend income was at the same level as 2022123.
Donations of £85,OIK) were made to Kendrick school for the maintenance and decoration of the Cedars building
1447 qnni thp rssn!f4rpm*bnt ii!Fi r￿ If ?q nnn! thv ni!rr.hSb4￿ nf ￿ mnnjtr)r!!!
i)ri)hp flir thp 4iAiimminc> ni)nl
(£6,IiOO), the funding for student awards (£2,000) and a £500 grant to enable the Students to experience a poet
for aday.
AS agreed in the previous year l(Y/o of the annual income (£5.802) was allocated to the student disbursement
Fund. One 8rant of £220 was paid direct to a current pupil towards their travel costs to the World Scoul
Jamboree in South Korea and £4.705 (thc amount allocatcd to thc disburscment fund in ?0?21•3} was paid to
the school for distribution to students in accordance with the rules of the fund. As at 31" March 2024 no student
grants had been made from this fund.
Investment Policy and Performvdnce during the year
C.CLA were appointed the Foundation's investment manager ai the AGM in June 2015. They manage the
Foundation's funds. on a discretionary basis, closely monttored by the trustee.
The investmeni policy is to achieve a reasonable rate of return within an acceptable level of risk. The value of
investments increased durin8 the year by £310,619 reflecting the economic circumstances durin8 the year.
The Charity Commission require the Foundation to recoup, over 60 years, the 2004 donation to Kendrick
O￿liVUj vi &L.8Iii ivi iirw >VVkii iakniLILJfi. J Ilf UJI¥LlldJ LJVV,VVV IUI LILLJ VuIVv￿ IL411 biVWtJ LV
£1,817,834. at 3151 March 2024, £947.076 (1090/0) above the amount of £870,788 needed to achieve the tar8et.
The value of the rwnainin8 pernlanent endowmenL which provides the expendable income, is £1,434,815.
Public benefit
Ll
rvtliiUiltAVi& wijiyiiru wjiij iii¥ uuiy j)fL Vui 111 )r￿lIvI1 * Ul Ljlf UllÉll ILlfJ &V I l j LV iidwr uur
regard to public benefit guidance published by the Commission. It exists to support the work of Kendrick
School by makin8 grants for activities not covered by standard funding The Foundation gives annual tr8vel
8rants to senior students. to encourage them to widen their experience and become more rounded individuals
by contributing to a different culture and sharing their skills for the benefit of others.
Thp FThinA*tinn 4nlA l?nA in ?nn4 tn thp vnnoinintinn fittlnts niii nf g orlnrto h￿11 at th*
This f￿lIlty is available to the general public in outaof-school hours, at weekends and in school holidays.
Page 2

AVII 41V. JVYV I
Identification of Major Risks
The tTUStee considers the variability of investment returns on the pennanent endowment to constitute the
charity's major risk. The trustee responds by taking appropriate professional advice and diversifying its
iniipqtmgntq bn Jcvnrdanne ivlth qiirh ￿All1v9
Trustee's Responjibilitieg in relalion to tht financial statements
Law applicable to Charities in England and Wales requires the trustee lo prepare financial statements for each
financial year which give a true and fair view of the charity's financia] activities during the year and of its
financial position at thc end of thc year. In preparift4 those financial statements, the trustee is required to..
Select suitable accounting policies and then apply them consistently.
Make judgements and estimates that are reasonable and prudent.
Slate whether applicable accounting standard5 and statements of recommended practice have been
followed subjert to any departures disclosed and explained in the financial statements, and
Prepare the financial statements on the 40ino ¢oncern basis unless it is inat)DfoDriate to Dresume that the
charity will continue in business.
io.
Reserves Policy
Following the sale of originally endowed land and subsequent donation of £2. 8m to the Kendrick School and
in accordance with a c.harities C,ommission Order dated 30 March 2004 the Irustee initially invested £SOO,000
in A separate rewupment fund and its policy is to increase the value of this tund, including the reinvestment of
income from 72,60/0 of the units held, 50 that it reaches a value of £2.8m over 60 years. The trustee's poli￿ in
respect of the balance of the endowment fund is to produce an income that is transferred to an unrestricted
fund out of which the grants and other proper expenditure of the Foundation can be paid for the foreseeable
future The trustee, s norn)al policy for the unrestricted income fund is that the amount of grants made, in
accordance with the Foundation's objectives, shall not exceed 9(P/o of the income in the previous year, Any
AIK)> VI Ill￿vIlLE Vvfl bj dlltb JLldUf dLIU dULJIILiI￿1tsd￿L￿1i ￿Vi[S VAJU IJ i iru ivII*Èuu iv ÈLIiILiLf iiir FuuLIU411iiAi.
in exceptional circumstances. to provide grants exceeding Its normal policy.
12.
Accounts
The trustee confirnis th&t the accounts comply with..
the governing document
the statement of recommended practice "Accounting and Reporting by Charities" issued in 2005.
The trustee is responsible for keepin8 accounting records which disclose with reasonable accuracy at any time the
financial position of t
e charity and enable tt to ensure that the financia] statements comply with the Charities Act
?ni i Tt 14 Ml4'1) r
prevention and
Th￿thI￿ fiif iyr{liniy thv ¢if thv i.hMritv #ntl hvnt'Ab flir tmkinii fi)r th
on of fraud and other irregularities.
e trustee on l Qckw 2024 and signed on its behalf by..
Approved by
MICHAEL PAGE
Chairnian of The Kendrick Trust
Page 3

THE KENDRICK FOUNDATION
CHARTfY REGISTRATION NO: 309072
Independent Examin•￿¥ Reportto th• Trustse of The Kèndrick Found•tion
I report to the trustees on my examination of thé accounts of th8 Kendrick Foundation for the year ended 31 March 2024
ich arè sét out on pages 5 - 11.
R•3pectlv• Responslbllhles of tru8ts08 and examln•r
The charity trustees are r8sponsiblé for the preparalion of the accounts. The charity's trustees considér that an audit is not
required for this y8ar under section 144 of the Charities Act 2011 (tho Chariti88 Ad) and that on independent examination
is needed.
It is my responsibility to..
8X8mine the accounts under setxion 145 of tho Charities Act
to follow the procedures laid dovm in the gènéral directions given by the Charity Commission (under section 145
{5)Ibl of the Charities Act, and
to state whether particular matters hav8 come to my attention
Bas1• of Ind•p•nd•nt •X4mln•rf• •tAt•m•nt
My examination wa$ carried out in accordance with general Directions given by the Charity Commission. An examination
indudes a review of the a¢xounting r8cords kept by the ¢harity and a companson of the accounts presented with those
records. It also indudes consideration of any unusual items or disclosur8$ in the accounts and seeking explanations from
tho trustees concorning any Such matters. The proceduros undertaken do not providè all the evidence that would b•
required in an audit, and consequently no opinion 1$ given 8$ to whether the arxounts presonl a ￿rue and fAi¢' view and
the report 1$ limit8d to those matlers sel out in the $tatem8nt b81ow.
Ind•p•nd•nt Examln•rf• •tat•m•nt
I have complétèd my examination. I confimi that no material matters have como to my attention in connection vith the
examlnation which givès me c8use to believe Ihat, in any material respect..
the accounting fecords vmre not kept in accordance with section 130 of the Charitie$ Act; or
the attounts did not accord with the a￿ounting records; or
the accounts did not comply wrth the ap'plic3ble requirements concerning the fcrrn. and cop.tep.• of accounts set
out in Ihe Charities (Accounts and Reports) R8gulalion$ 2008 other than any requirement that the accounts
give a Irue And fairf view which is not a matter considered as part of an indèp8nd8nt examination
I have no concems and have Come across no other matters in connection with the examination to whith attention should
be drawn in this report in order to enablé a proper underslanding of the accounts to be reached.
Sabina Reed
Association of Accounting TechnKians
Hoty Brook Associates
Curious Lounge
1 It Floor Pinnade Building
Tudor Road
Reading
RG1 INH
Date...30.08.2024.............
Page 4

THE KENDRICK FOUNDATION
CHARrrY REGISTRATION NO: 309072
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unreslricted Disbursement Permanent
Income
Fund Endowment
Total
Tot
Yegr Ended Year Ended
313 2024
313 2023
Notej
Income from:.
Bank and deposit interest
Dividend income
Disbursemeni Fund Transfer
3,003
55,021
(5,802)
1.032
55.022
55.021
5.802
Total incoming resources
52.222
5.802
58,024
56.054
Eipenditure on:.
Cost of charitable activities
Administration Costs
85.000
408
4,925
89.925
408
34,900
408
Total resources expended
85.408
4,925
90.333
35,308
Other Recognised Gvdins and Losses
Gains/(losses) on investment assels.-
Realised
Ilnrealiqed
Iln,619
.3in.619
(112,249)
Net Income l (Expenditure)
(33,186)
877
310.619
278,310
(111,503)
Fund balances at l April
68,889
4,705
2.942,060
3.015.654
3.127,157
Fund Balances at 31 March
35,703
5,582
3,252,679
3,293,964
3,015,654

THE KEi%DIULK FOUINDAI'IV
LHAIUTY REGlliTRATIOIY Il'u: J09072
BALAI%'LL SHLLI. AS AT JI MARCH 2024
Notej
31 March 2024
31 MAreh 2023
Fixed Asset5
Investments
J.252.67Y
2.942.Ll60
3.252,679
2.942.060
Current Assels
Cash held by Investment Manager
Cash at Lloyds bank
37,714
3,944
72,190
1,777
41.658
73.967
Creditor5: falling due within one yeAr
10
(373)
(373)
Nei Currenl Assetj
41,285
73.594
Total Assets less Current Liabilities
3,293.964
3.015,654
Represented by:
Unrestricted income fund
Diqhiirsement Fiind
Pennanent endowment fund
35,703
5 5512
3,253.679
68,889
4 7(1$
2,942,060
3,293,964
3,015,654
Appioved by the Twslee on I c)th LJ 2024 and siwied on its beh￿1. by.
(sigiied) MICHAEL PAtiE
Vage 6

TUE KLIN'DIULK Tr'L)UNDA TIUIY
CHAIUTI R£GISTRA TION IYL>: 309072
LASU STATEIllEIYT FOR I EAR L'LYDLD JI MARCH 2024
Note
31 March 2024
31 March 2023
Cash generAted for Operaling Activities
Net cash (used in) Operating Activities
14
(90,333)
(35.308)
Ca9h flows from Investing Activities
Dividends, interest and rents from investments
Purchase of propety, plant & equipment
Ytl ¢H)li pi'ovided (iistd iii) iiivt$liu8 a¢.Ibvilit$
58,024
56,054
Cash flows from Fin4n¢ing Activities
Repayments of borrowing
et cash provided (ustd in) financing aclivities
ChATr£e on cRsh And ¢Agh eqiiivalents in the yev4r
Cash al bank and in hAnd al start ofyevdr
CAsh At bank and in hand al end of yeAr
73,967
41,658
53,221
73,967
Va8e 7

THE KELNDRILK FUUNDATIOI
CHARITY IlLtsI￿4TRA TION NO.. 309072
r*UTES TO 'I'HL * III'A)i 'LIAL STA TEhlENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting Policies
The financial statements are prepared under the historical c05t convention wtth items recognised al cost
or transaction value unless otherwise stated in the relevant notes to these accounts. The financial
slalLiiieiils ha¥¢ beeij pity￿ Ld iIi aicoidaiiie will) klie Sialeiii¢iil of RLLV111131LJidid Pi"aclii¢ . Accouiiliii¥
and Reporting by Charities preparing thetr accounts in accordance with the Financiat Reporting Siandard
applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting
Standard applicable in the United Kin8dom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Kendrick Foundation constitutes a public benefit entity as defined by FRS 102 .
All iii*¢Jthiièiils ai¢ stated &¢ ti)Id-tiiai k'ei Wdlu¢ dl Ilie bal￿}￿e ilTreet dale. 'l-lie tiiovetiieiit In Ilie Sthieiiienl
of Financial Activities comprise5 both realised and unrealised gains and10sse5.
Bank interest is accounted for on an a¢¢ruals basis.
Investment income is accounte4J for when received.
Reknovety ot" t&i deduLled oil iiileresl i eceived As a￿oUnted li)i when i¢Leiv
Donations are recognised and applied to the Trust Fund when received.
Grants and donations are accounted for when approved. Administrative expenditure is a￿OUnted for on
an accruals basis.
Liabililies ￿ e iecowiis¢d on an a￿[UalS basis.
Permvdnenl Endowment Fund
The permanent endowment fund relate5 to the va]ue of the land and assets origtnally donated to the
Foundation. The land wa5 disposed of during the year 2004-05. The Charity Commissioners direthed by
order on 30 March 2004 that £500,000 of the pro￿¢d3 be invested with the purpose of ac¢umulatin8
ruiid vf £? 8111 Ov¢1 60 y¥diS 10 i'iiuup IIIV LU)I vf dviiaLiuiis Iv k¥iidi lik SLliuvl iii l Lsp¥iI ()[ a>>i>liiig iii
construction of new sports facilities. The balance of the pern)anent endowment fund is applied in
accordance with the objects of the Foundation
Income Fund (Unrestricted)
The Income Fund represents funds to be used for the payment of grants, donations and administrative
expenses of the Foundation.
Donations and Girls
No donations were received during the year.
Bank and Deposit Interest
Year to
31 MArch 2024
Year to
31 Mfirch 2023
Received by Unrestricted Funds
3.003
1.032

THE KEIYDRILK FOL'h'DA'I'IUI)
LHARITI, REGISTRA'I'IOI%' IYO. 3090 12
U I"Eb 'l'O I'HE Tr'IIIALIAL SITATELIIENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment Income
Year lo
31 ￿la￿ch 2024
Year lo
31 Illarcb 2023
CCLA
Ethical Investment Fund
Property Fund
48,561
6.460
48,561
6,461
.o?I
Investment Income received for
Unrestricted Funds
55.021
55.022
C,08t of Charilgble Activities
DuiiIib ihe yew ilie Foundation tiiade (lotiatsoiis to KendriLk Sch(xil ol. 185,iJw toi woik oil tlie Led￿'S
buildin& replacement of Firedoors. a monitorig probe for the swimming pool. a contributson to student
awards and to enable the students to experience a poet for a day. A £220 granl was paid direct to a student
and £4,705 paid to the school to establish a disbursement fund to enable the sch(x)I to make ￿antS lo
students in in accordance with the agreed criteria.
All i11￿.1￿bIt ¥.%p¥i)dilui'¢ ix) 2024 ￿)d 202i was fi'uii) uill'esli'i¥l¢d fuiids.
Adminiitration Costs
Year to 31 March 2024
Income Fund
Endowment Fund
Year to
31J.2023
Totydl
Independeiit E'xaniiner's iemunerauon
Sundry expenses
Data Protection Olyice Fee
13
35
13
35
13
35
408
408
408
.4diiiiiiisii'alioi) Losls yle 31.J.202J
408
No remuneration was paid to the trustee during the current period or previous years.
There were no employees during the year.
408
408
Vage 9

THE KEADRILK FOUNDA I IUI
CHA￿ ry KLtsiSi"RATIOIY Il'u: 309072
,YOl'L&4"IU TI1£ F'INANCIAL STATEhlEIlTS
FOR THE YEAR ENDED 31 MARCH 2024
Investments at Market Value
Year to
31 March 2024
Year to
31 March 2023
CCLA - COIF Ethical Investment Fund
CCLA - COIF Propety Fund
3,313,269
119.410
2,816,155
125,905
3.252,679
2,942,060
At 31 Marcli 2024 the pui chase knost ot. tlie Iiivesuiieiits held was as tollows.
Cost of investments
,849,191
1.849,191
Market value of investments at start of year
2,942,060
3,074,309
Redlised 8wns l (losses)
Unrealis¢d gains l (losses)
310.619
(132,249)
Market value of investments at end of year
3,252,679
2.942,060
As'bel All￿&LL011 of Iiiv¥>lii)ei)ts li¢ld
Overseas Equities
UK Equittes
Property
Infrastructure & Operatin8 Assets
Contractual & Other Income
Private Equity & Other
Fixed interest
Cash
62.0
59.6
ioo.o
i(K).o
io.
credito￿. t'Allin8 due Within ofte year
Accruals
373
373
373
373
Vage 10

THE KENDRtCK FOUNDATION
CHARrrY REGISTRATION NO: 309072
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
AnAlysii of Fund Balances
Permanent
Disbursemeiit Eiidowiiielll
Fund
Fund
Ilico￿e
Fund
ToÉal
Funds
Investments
Cash held by Investment Manager
Cash at Lloyds bank
Creditors
3.252.679 3.252,679
37.714
3.944
(373)
32.132
3.944
(373)
5,582
35.703
5.582 3.252,679 3.293,964
The Pernianeni Endowment Fund ¢onsi$i$ ot the t"ollowin8
Recoupment fund
Amount on￿nallY invested in 2004
Income and Bains in years 2004- 2023
Unreali5ed investsnent gains l (losses) in year 2024
500.000
1,118,425
199,439
Re¢oupment Fund al 31 March 2024
Balance of Endowment Fund at 31 March 2024
1,811,8b4
,434,815
Total Pernianent Endowment Funds
3,252.679
Post Bal&n¢e Sheet F.vents
There were no post balance sheet events
13.
RelAted Party Transactions and Ultimate Controlling Party
The trustee of the Kendrick Foundation is the Kendrick Trust. a ¢ompany in¢orporated by guarantee.
(Company number 3517162) The directors ot- the Kendnck Trust, a$ noted on page I, are responsible
for the management of the Foundation. There were no related party transactions.
14.
Reconciliation of nel movement in funds to net e4yh flow from operating activities
31.3,2024
31.3.2023
Net income l (expenditure ) as per the SOFA
Adjuslments for:.
Depreciation char8es
Dividends, interesl and rents from investments
(Gains) I t￿8$eS on investments
(iiiLie(Ise) I deLieas¢ it2 d¢btUfb
Increase l{decrease) in creditors
278,310
(111,503)
(58.024)
(310.619)
(56,054)
132,249
Y4et tash (ujed in) operating VdCtivitie8
Pagell