Charity number: 309085
ST BARTHOLOMEW'S SCHOOL FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ST BARTHOLOMEW'S SCHOOL FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 - 2 |
| Trustees' Report | 3 - 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 - 23 |
ST BARTHOLOMEW'S SCHOOL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Appointed by Newbury Town Council: Councillor S Dibas Councillor N Foot Appointed by West Berkshire Council: Councillor B Drummond Councillor E Pattenden Councillor P Clark
Appointed by Newbury Almshouse Trust: Mr M Hart Community Trustees: Mr T Emberlin, Chair Mrs P Ray, Vice Chair Mr L Pummell, Treasurer Mr R Mead Mr D Seward (appointed 10 September 2024) Ms L Lewis (appointed 10 September 2024)
Officers: Mr T Emberlin, Chair Mrs P Ray, Vice Chair Mr L Pummell, Treasurer Mrs H Sutherland, Clerk
Charity registered number
309085
Principal office
St Bartholomew's School Andover Road Newbury Berkshire RG14 6JP
Independent Examiner
James Cowper Kreston Chartered Accountants Greenham Business Park 2 Communications Road Newbury Berkshire RG19 6AB
Page 1
ST BARTHOLOMEW'S SCHOOL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Bankers
Lloyds Bank plc 5 Bridge Street Newbury Berkshire RG14 5BQ
Solicitors
Knights Rivergate House London Road Newbury Berkshire RG14 2PZ
Investment Advisers
Black Rock Investment Managers 33 King William Street London EC4R 9AS
Page 2
ST BARTHOLOMEW'S SCHOOL FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements for the year ended 31 March 2025. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities, preparing their accounts in accordance with the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, governance and management
a. Governing document
The St Bartholomew's School Foundation was formed as a charitable foundation (Charity No. 309085) under a trust deed dated 10 February 1910, as modified by subsequent orders. This scheme was replaced by a new scheme dated 18 October 2007.
There have been no changes in the objectives since the last annual report.
b. Governing Body and organisational management
The Charity is managed by a Board of Trustees whose details are listed under the reference and administration details section. The Trustees meet at least three times each year and receive agendas, minutes and papers prepared by the Clerk. Decisions are taken by majority voting where necessary, usually by show of hands. Meetings are chaired by the elected Chair or Vice Chairman and minutes are taken by the Clerk. In between Trustees' meetings urgent decisions can be taken by the Chair, Mr T Emberlin, Vice Chair, Mrs P Ray and Treasurer, Mr L Pummell.
The day to day administration of the Charity is delegated to the Clerk to the Trustees, Mrs H Sutherland.
Two Trustees are appointed by Newbury Town Council, three by West Berkshire Council and one by the Newbury Almshouse Trust. These are known as Representative Trustees. The remaining six trustees are designated Community Trustees.
c. Recruitment and training of trustees
Representative Trustees are appointed after their respective organisation's internal nomination processes are complete.
Community Trustees are recruited in a variety of ways, including informal discussions with the School's Governors and an open recruitment process when required. All Community Trustees are chosen for their personal attributes and experience, necessary to maintain an appropriate balance of skills and professionalism on the Trustee Board.
Trustees are inducted by the Chair, Vice Chair and the Clerk following recruitment and are encouraged to maintain their knowledge of general charity law and regulatory matters via the Charity Commission website and educational initiatives.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management (continued)
d. Risk management
The Trustees are responsible for the identification of risks inherent within the Charity, their potential impact on its operations and the implementation and maintenance of a system of control in order to mitigate those risks.
The Trustees periodically review risk and the key controls maintained by the Charity which include:
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formal agendas for all meetings
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well established organisational structure and reporting lines
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clear authorisation and delegated responsibilities
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regular review and reporting of financial position
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use of external professionals for advice where the necessary expertise is not available from within the body of Trustees. Legal, financial, commercial and investment advisers have been used during the year.
The Trustees are satisfied that any major risks have been identified and mitigated where necessary through their risk management processes.
Objectives and activities
a. Objectives and activities for public benefit
The principal objective of the Foundation is to provide educational benefits to the students of St Bartholomew's School. The Trustees are aware of the Charity Commission's general guidance on public benefit which has been considered when reviewing policy and objectives.
The Foundation is responsible for administering permanent endowment funds and assets which are held in a portfolio of cash, managed investments, land and property. The Foundation owns the large majority of the land and buildings of the School, including playing fields, all of which have been leased to the School. The buildings have been removed from the Balance Sheet of the Foundation as disclosed in note 18 to the accounts. The Foundation owns some allotment land called Parsons Green in the town, which is let to the Newbury Town Council. There is also a property at No. 4 Buckingham Road, Newbury.
The Foundation is the custodian of many prize funds, some restricted in purpose, but all intended to reward good work, effort or achievement on the part of pupils at the School. These prize funds have been consolidated under a new charity scheme dated 18 October 2007 known as the St Bartholomew's School Foundation Consolidated Prize Fund.
The Foundation is supported by one part time clerk.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
a. Achievements and performance
The Trustees take a keen interest in the development of the school and greatly value the regular updates from the headteacher and invitations to school events. It is their objective to balance risk and reward and optimise the total return on the Foundation's investments in order to provide funds for those activities which cannot be met from other sources. The Trustees are mindful of their obligation to future generations of students in their execution of the management of the charity's permanent endowment and other assets. This year, Trustees were particularly delighted to finance “Awards Evenings” that recognise the achievement and attainment of students. Trustees also took steps to maintain good stewardship of The Foundation’s assets, for example by commissioning a comprehensive land valuation exercise, continuing to maintain its rental property and agreeing to changes to the school estate to reflect changing needs of the school community.
b. Investment policy
The Trustees have appointed Black Rock Investment Managers to manage the Foundation's investments. The Fund Managers issue quarterly statements and detailed valuations and portfolio reports each year. The Trustees review the performance of the Foundation's investments on a periodic basis.
In general terms, the Foundation seeks a mixture of capital growth and income generation from the performance of its investments.
Financial review
a. Financial review
The accounts for the year ended 31 March 2025 show income of £56,022 (2024: £52,553) as detailed on page 9 of the accounts. Investment income continued to be generated from monies held on deposit, from dividends and from letting investment property. Dividend income is fairly consistent compared to the prior year at £31,176 (2024: £30,138).
The Foundation's investment property at 4 Buckingham Road continues to produce useful rental income and long term capital growth for the charity. The estimated market value of the property as at 31 March 2025 was £750,000 (2024: £750,000).
Land owned by the Foundation and used as allotments (Parsons Green) is rented to the Newbury Town Council at £850 (2024: £850) per annum.
Charitable expenditure predominantly comprised donations to support the awarding of school prizes.
The Endowment funds stood at £1,845,605 at 31 March 2025 compared with £1,806,732 at 31 March 2024.
The Permanent Endowment of the Foundation includes funds held in Funds managed by Black Rock Investment Managers. The value of the investments increased by £31,625 during the year compared with an increase of £22,838 in the previous year.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
b. Significant developments during the year
There were no significant developments during the year.
c. Reserves policy
The Trustees do not have a formal policy for determining the level of cash reserves. However their practice has been to maintain sufficient liquid assets in an interest bearing deposit account to enable the Foundation to meet unexpected expenditure, such as uninsured losses or urgent repairs to the school buildings that could not be met by the School or the Department for Education. Currently these cash reserves stand at £197,973 (2024: £190,684).
The Prize Funds which were consolidated under a new scheme dated 18 October 2007 continue to accumulate income. Each year the Trustees pay for a range of prizes awarded to students at the School and meet the costs of school community events from general income. Specific unrestricted fund income (e.g. the Repair and Improvement Fund) is being used for special projects undertaken by the School.
The level of reserves is considered to be appropriate and at a prudent level.
Plans for the future
d. Future developments
The Foundation has been part of the St Bartholomew’s community for more than a century, in which time the school has gone from strength to strength. It is proud to work in partnership with the Headteacher and school governors for the benefit of the school community and looks forward to continuing to fulfil its mission in the future. In the near term, it will contribute financially to the school’s goal to use technology to enhance learning, in the mid-term, explore how it can work with the school to develop a fund-raising programme and in the long term, it stands ready to support the school in whatever way it can, as it has since 1910.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Mr T Emberlin Chair Date: 29 January 2026
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
Independent Examiner's Report to the Trustees of St Bartholomew's School Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the Year ended 31 March 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 30/01/2026
Fiona Hawkins MSc FCA
James Cowper Kreston 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB
Page 8
ST BARTHOLOMEW'S SCHOOL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Note Income and endowments from: Investments 2 Total income and endowments Expenditure on: Raising funds 3 Charitable activities: Direct costs Governance Total expenditure Net income before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Endowment funds 2025 £ 7,474 7,474 - - - - 7,474 31,399 38,873 1,806,732 38,873 1,845,605 |
Unrestricted funds 2025 £ 48,548 48,548 3,577 32,765 5,781 42,123 6,425 226 6,651 213,640 6,651 220,291 |
Total funds 2025 £ 56,022 56,022 3,577 32,765 5,781 42,123 13,899 31,625 45,524 2,020,372 45,524 2,065,896 |
Total funds 2024 £ 52,553 52,553 3,047 37,561 7,300 47,908 4,645 22,838 27,483 1,992,889 27,483 2,020,372 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the Year.
The notes on pages 12 to 23 form part of these financial statements.
Page 9
ST BARTHOLOMEW'S SCHOOL FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 8 | 194,204 | 194,204 | ||
| Investments | 10 | 928,149 | 889,050 | ||
| Investment property | 9 | 750,000 | 750,000 | ||
| 1,872,353 | 1,833,254 | ||||
| Current assets | |||||
| Debtors | 11 | - | 213 | ||
| Cash at bank and in hand | 197,973 | 190,684 | |||
| 197,973 | 190,897 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within one | |||||
| year | 12 | (4,430) | (3,779) | ||
| Net current assets | 193,543 | 187,118 | |||
| Total net assets | 2,065,896 | 2,020,372 | |||
| Charity funds | |||||
| Endowment funds | 13 | 1,845,605 | 1,806,732 | ||
| Unrestricted funds | 13 | 220,291 | 213,640 | ||
| Total funds | 2,065,896 | 2,020,372 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Mr T Emberlin Chair
Date: 29 January 2026
The notes on pages 12 to 23 form part of these financial statements.
Page 10
ST BARTHOLOMEW'S SCHOOL FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
| Cash flows from operating activities Note Net cash used in operating activities 15 Cash flows from investing activities Dividends, interests and rents from investments Net cash provided by investing activities Change in cash and cash equivalents in the Year Cash and cash equivalents at the beginning of the Year Cash and cash equivalents at the end of the Year 16 |
2025 £ (41,259) 48,548 48,548 7,289 190,684 197,973 |
2024 £ (51,102) 45,318 45,318 (5,784) 196,468 190,684 |
|---|---|---|
The notes on pages 12 to 23 form part of these financial statements
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
St Bartholomew's School Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Tangible fixed assets and depreciation
The land held for use by the charity as at 1 April 1996 has been shown on the Balance Sheet at its valuation on 1 April 1996. The value of this land is £174,145. In accordance with section 17 of FRS102 this valuation has not been updated. Additions to land subsequent to this have also been included at cost. The land is not depreciated.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies (continued)
1.5 Investment property
Investment properties are initially recognised at their transaction cost and subsequently measured at fair value. Gains are recognised in the Statement of Financial Activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains/(losses) on investments' in the Statement of Financial Activities.
1.6 Investments
Fixed asset investments are stated at their open market value at the Balance Sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains/(losses) on investments' in the Statement of Financial Activities.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
1.12 Critical accounting estimates and areas of judgement
The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance Sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates. In preparing these accounts the value of the investment property has been determined by the Trustees based on information available.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Investment income
| Lettings income Dividends Interest received Total 2025 Total 2024 |
Endowment funds 2025 £ - 7,474 - 7,474 7,022 |
Unrestricted funds 2025 £ 21,880 23,702 2,966 48,548 45,531 |
Total funds 2025 £ 21,880 31,176 2,966 56,022 52,553 |
Total funds 2024 £ 19,631 30,138 2,784 |
|---|---|---|---|---|
| 52,553 | ||||
3. Expenditure on raising funds
Costs of raising voluntary income
| Investment property costs Total 2025 |
Unrestricted funds 2025 £ 3,577 3,577 |
Total funds 2025 £ 3,577 3,577 |
Total funds 2024 £ 3,047 |
|---|---|---|---|
| 3,047 |
4. Analysis of expenditure by activities
| Education Total 2024 |
Activities undertaken directly 2025 £ 32,765 37,561 |
Support costs 2025 £ 5,781 7,300 |
Total funds 2025 £ 38,546 44,861 |
Total funds 2024 £ 44,861 |
|---|---|---|---|---|
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Donation to St Bartholomew's School Newbury Almshouse Trust Sundry expenses Total 2025 |
Education 2025 £ 32,148 613 4 32,765 |
Total funds 2025 £ 32,148 613 4 32,765 |
Total funds 2024 £ 37,189 368 4 37,561 |
|---|---|---|---|
The donation to St Bartholomew's School comprised of £5,148 for prizes and £27,000 for staffing, website and events to support the school's technology sustainability strategy and hardship funds.
Analysis of support costs
| Governance costs Total 2025 |
Education 2025 £ 5,781 5,781 |
Total funds 2025 £ 5,781 5,781 |
Total funds 2024 £ 7,300 7,300 |
|---|---|---|---|
5. Governance costs
| Accountancy charges Indemnity insurance Clerks fees Legal and professional |
2025 £ 3,931 632 500 718 5,781 |
2024 £ 3,780 614 800 2,106 7,300 |
|---|---|---|
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. Independent examiner's remuneration
| Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of: Accountancy services |
2025 £ 2,185 1,745 3,930 |
2024 £ 2,100 1,680 3,780 |
|---|---|---|
7. Trustees' remuneration and expenses
During the Year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the Year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Tangible fixed assets
| Cost or valuation At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Freehold property £ 194,204 194,204 194,204 194,204 |
|---|---|
Land held at 1 April 1996 has been included at the Trustees' estimate of the value as at that date. Land at York House acquired since that date, and now included within the Main School Site, is included at cost. The interest in the new school building, sports facilities, IT and other equipment and fittings was transferred to St Bartholomew's School during the financial year ended 31 March 2021 (see note 19).
Property retained by the Foundation
Non depreciating assets
| Playing fields at Enborne Road Main School Site Land north of Fifth Road Parsons Green Allotments |
49,145 110,059 25,000 10,000 194,204 |
|---|---|
School Land previously known as 'Land at Fifth Road', 'Land at York House' and 'Land at Luker site' has been amalgamated under the description of 'Main School Site'.
Land previously described as 'Wormestall site' has been renamed 'Land north of Fifth Road'.
Page 17
ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Property donated or leased to St Bartholomew's School in September 2011 (see note 19)
Depreciating assets:
| New school building IT equipment Furniture, fixtures and equipment Multi use games area and synthetic turf pitch Sports equipment Total |
35,101,273 931,680 1,191,695 1,810,551 22,301 39,057,500 |
|---|---|
9. Investment property
| Valuation At 1 April 2024 At 31 March 2025 |
Freehold investment property £ 750,000 750,000 |
|---|---|
The last formal valuation was made by Henwick Properties on 2 February 2022, on an open market value for existing use basis.
The 2025 valuations were considered and made by the trustees, on an open market value for existing use basis.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. Fixed asset investments
| Cost or valuation At 1 April 2024 Additions Revaluations At 31 March 2025 |
Listed investments £ 889,050 7,474 31,625 928,149 |
|---|---|
Investments at market value comprise:
| BLK Charities UK Equity Fund BLK Charities UK Bond Fund All the fixed asset investments are held in the UK. |
2025 £ 877,557 50,592 928,149 |
2024 £ 836,566 52,484 889,050 |
|---|---|---|
11. Debtors
| Due within one year Prepayments and accrued income |
2025 £ - - |
2024 £ 213 213 |
|---|---|---|
12. Creditors: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 4,430 | 3,779 |
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. Statement of funds
Statement of funds - current Year
| Unrestricted funds General funds Designated funds Endowment funds Endowment funds Total of funds |
Balance at 1 April 2024 £ 210,653 2,987 213,640 1,806,732 2,020,372 |
Income £ 48,548 - 48,548 7,474 56,022 |
Expenditure £ (42,123) - (42,123) - (42,123) |
Gains/ (Losses) £ 226 - 226 31,399 31,625 |
Balance at 31 March 2025 £ 217,304 2,987 220,291 1,845,605 2,065,896 |
|---|---|---|---|---|---|
The Trustees have designated £2,987 for the improvement and repair of school buildings.
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. Statement of funds (continued)
Statement of funds - prior Year
| Unrestricted funds General funds Designated funds Endowment funds Endowment funds Total of funds |
Balance at 1 April 2023 £ 212,869 2,987 215,856 1,777,033 1,992,889 |
Income £ 45,531 - 45,531 7,022 52,553 |
Expenditure £ (47,908) - (47,908) - (47,908) |
Gains/ (Losses) £ 161 - 161 22,677 22,838 |
Balance at 31 March 2024 £ 210,653 2,987 213,640 1,806,732 2,020,372 |
|---|---|---|---|---|---|
Transfer between funds
Improvements in 2014 and 2015 to the investment property at 4 Buckingham Road which forms part of the endowment funds were financed from unrestricted funds. The Trustees have agreed that if the investment property is sold the cost of these works, which totalled £108,445 over the two years, will be repaid to the unrestricted fund.
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total |
Endowment funds 2025 £ 174,145 921,460 750,000 - - 1,845,605 |
Unrestricted funds 2025 £ 20,059 6,689 - 197,973 (4,430) 220,291 |
Total funds 2025 £ 194,204 928,149 750,000 197,973 (4,430) 2,065,896 |
|---|---|---|---|
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Ttl |
Endowment funds 2024 £ 174,145 882,587 750,000 - - 1,806,732 |
Unrestricted funds 2024 £ 20,059 6,463 - 190,897 (3,779) 213,640 |
Total funds 2024 £ 194,204 889,050 750,000 190,897 (3,779) 2,020,372 |
|---|---|---|---|
Total
15. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Losses on investments Dividends, interests and rents from investments (Decrease)/Increase in creditors Decrease/(Increase) in debtors Net cash used in operating activities |
2025 £ 45,524 (31,625) (56,022) 213 651 (41,259) |
2024 £ 27,483 (22,838) (52,340) (3,194) (213) (51,102) |
|---|---|---|
16. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2025 £ 197,973 197,973 |
2024 £ 190,684 190,684 |
|---|---|---|
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ST BARTHOLOMEW'S SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2024 £ 190,684 190,684 |
Cash flows £ 7,289 7,289 |
At 31 March 2025 £ 197,973 197,973 |
|---|---|---|---|
18. Related party transactions
During the year the Trustees made a donation of £32,148 (2024: £37,189) from unrestricted funds to St Bartholomew's School.
19. Long term lease
On 2 September 2011 the Trustees entered into a 125 year lease at a peppercorn rent with St Bartholomew's School in respect of land and buildings owned by the Foundation and used by the School.
By granting the lease the Trustees have transferred the risks and rewards of ownership of the buildings and other depreciating assets to the School. These buildings and other depreciating assets as listed in note 8 were therefore removed from the Balance Sheet. However, the risks and rewards of ownership of the land remain with the Foundation and therefore the land remains on the Balance Sheet of the Foundation.
20. Controlling party
The charity is controlled by its board of Trustees.
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