2022-03-31-accounts

HENLEY EDUCATIONAL TRUST ANNUAL REPORT and EXAMINED but UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Charlty Number 309237

HENLEY EDUCATIONAL TRUST ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 INDEX Pago Trustee8 Annual Report Independent Examlnerfs Report Statement of Finan¢ial Activities Balanr* Sheet Notes to the Accounts

HENLEY EDUCATIONAL TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Referenee and Administratlon Informatlon Trustees.. Covopted Mrs A H6alh (Chairl Mrs E Hodgkln Mrs l Morrow Mrs M Smith Mts D Wermann Mrs S Bishop The Re¢toi of Henley- Revd J C Tayler The Mayor of Henley- Cllr Mr K Arf8tt lunlil 13105121) The Mayor of Henley- Cllr Mrs S Miller lfrom 13105121} Nomlnatlve Mr T Amlson Cllr Ml88 K Hlnton Cllr Mrs M Thomas Ex-offlcio Clerk-. Mr8 C Gosby Règi8tered Offlce.. 1A Coldharbour C108e, Henley-on-Thame8, RG9 1QF Bank-. Bwdays Bank PLC. 10 Hart Street, Henley-on-Thames RG9 2AX SOl￿rtOr. Mercers, SO New Street. Henley-on-Thames. RGg 2BX Investment Manager. Mr N McGregor MCSI Redmayne Benuey LLP, 43 Market Place, Henley-on-Thames RG9 2AA Property Ad￿Ser.. Mro Qulnn Simmons & Sons, 32 Bell Street, H•nlw-on-Thames, RG9 2BH Independent Ex8mSner: Mr J C R Lawrence-knher FCA Brulon Charles, The Coach House. Greys Green 8u$ines8 Centffj. Henley-on-Th8me8, RG9 9 4QG Charfly Number.. 309237

HENLEY EDUCATIONAL TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 WIRCH 2022 Thé Trustees present their Annual Report and Financial Statements of the Trust for the year ended 31 March 2022. The Financial Stalements have been prepared in accordance with the accounting policies sel out in Note 110 the accounts and comply with the Charity's Trust Deed, thè Charitiès Act 2011 and Accounting and Reporting for Charit￿s.. Sl*ement gf Recommended Practice applicable lo charities preparing their 8tcounls in aceordanee the Finarrial Reporting Stand8rd appllcable in the UK and Republic of Ireland published in October 2019. Structure, Governance and Managèment The Trust is regulated by a Scheme approved by the Secretsry of State for EducatiC￿ and Science dated 10 November 1 %9, and amended by further Deeds dated 20 February 1981 and 23 June 1983. By resolLrtion dated 28 March 2011 the name Vfds changed to Henley Educational Trust. The Henley EdU￿tiOnal Trust has existed in one form or another since 1604 from various endowments, lo provlde educational support for deserving families in Henley, the provision of special benefits to local schools and generally promoting Ihg edu¢alion ofyoung per$ons resident in Henley. The Trust does nota¢tivety fund raise and seeks lo contonue the educational based donations through careful stewardship of ils existing re80urce8. As such the Trustees believe they comply with the guidance published by the Charfty Commission wth regard lo Public Benefit. The Trust is based in Henley on Thames. The body of trustees when complete shall consist of eleven members, of whom six are c￿0P1￿d, tsvo are ex-officio and three are nomlnaled.. those ex-offi¢io are the Rector and Mayor of Henley on Thame$, whllst the nomlnaled arè two by Henley Town Council and one by Oxlordshire County Council. The nominated trustees are appointed for a term of four years. and the co-opted trustees for a period of five years, after which they may PLrt themselves forward tor re-appointment. Detsils of the arrangomenls concemlng the appointment of trustees are given in the Deed dated 20 February 1981. In appolntlng newcowopted trustees. the existing Iru¥tee board consider5 the make up ofthe board and the skills required and Seeks lo appoint persons for the experience, diversty, empathy and knO￿edge that they can conlrfbute. The Induction process for any newty appointed Trustee compr18e8 meetings with the ChaSr of Trustees concefning the Trust purposes, investments, the grant making process and powers and responsibilities of the trustee board. The Wel￿Me pack in¢ludg$ a brief history of the Trust and the provision of access lo minutes of trusteè meetings, Trust annual reports and accounts, the goveming Trust deed. Trust policie5 and procedures and a copy of the Charfty Commi8sion' guidance'The Essential Trustee.. What ypu need tg know, what you need to do,. The Trustees met eight time8 1ri the year, and at these meetings they agreed the broad strategy and areas of activity of thè Trust. includin9 considerallon of grant making, investment, risk management. policie5 and performance. All Iru$lee$ give of their time freely and no Iru$l¢e remuneration was paid in the year. Trustees are ￿qUIred lo discl¢)se all relevant interests and withdraw from decislons where conflict of intere81 arises. The day lo day admln18tration of the Trust Ss delegated to the Clerk. who 18 paid by the Trust. and Is aided as appropriate by Trustoes. ObJectlv•s and Activities for th8 Public Benefit and Grant Making Policies The objecllves of the Trust are the promoloon of educational benefit for those under 25 wrthin the town of Henley on Thames and the parishes ol Blx, Remenham and Rothertleld Greys. The Trust carries out these objectiVo5 in line wth the requirements of ils Trust Deed.. according to the prlnclples of the Church of EnglarKI and Its income, after payment of adminislr8lion and management costs, is applied as follows". al Section 2812llbl Not more than one third in tho provision of Special benefits e.g. teaching aids not nomially provided by a local education authority to schco15 under lhelrjuri5d￿tyon and that are within the area of benefft b} Section 2813) Up to one third In 88si$llng children and persons under the age of 25 who are in noed of flnancial assistance Sn regard to their education and who meet rgsidential or school attendance

HENLEY EDUCATIONAL TRIIST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 ObJ8ctlves, Actlvltlo8 and Grant hl•klng PollGles Icontlnuodl uiremenl, The grants are for outFrts. fees, travelling expenses et¢ as required in their advancement of Ilfe. c) Section 28141 The Iruslees shall appty the remainder of the annual income in promoting the education of Ghildren and young people in the area as they think fft. The area of benefit is restricted lo the parishes of Henley, Bix, Remenham and Rolherfield Greys or the applicants musl ¢urrenlty attend or have attended for a minimum of tsvo y&ars Ihe nominated schools thin the above areas. Individual applicants musl be under 25 years of age. Full detsils for the applicallon for grants can be found on Ihe Trust's website al www.henle educalionaltrust com. The trustees confim that they have regard to the Charrty Commiss1 n guidance on public benefit when onsidering how gran15 should bo mado. The trustee$ have adopted a Grant Giving Policy and procedures for managino grant applications to ensure grants meet Trust objectives and that each grant application 18 considered in a consi¥lent manner. Trusl¢es' R•$pon8lblllti•s in R•lation to tho Flnanclal Stat•mgnts The charity trustees a￿ responsible for preparing a Irustee8' annual report and financ181 statèments in 8￿rdance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted A￿OuntIng Practice). The law applicable to Charit￿s In England arKI Wales requires th• charity trustees to prepare financial stslemenls for each year which give a true and fair view of the state of affairs of the charity and ol the incoming resources and application of resources of the charity for the period. In preparing the financial statements, the trii8loe$ are required to.. Select Suitable accounting policies and then apply them con8i$tendy', Observe the methods and princlples in the applicable Charities SORP; Make judgments and estimates that are reasonable and prudent., Slate whether applicable accounting slandaids have been followed, subjettl lo any material departures that must be disclosed and explained in the financial Statements; Prepare the financial statements on the golng concern basis unle¥s it is inappropriate to presume that the eharily will continug in business. The tru$t¢e5 are responsible for keeping proper accounting record8 that di8cIo8e wth reasonable accuracy at any lime the financial posillon of the charity and to enable them lo ensure that the financial statements comply with the Charity Act 2011, the appllcable Charities (Accounts and Reports) Regulations, and the prowsion¥ oflhe trust deed. They are also responsible for safeguarding the assets of the charSty and lak(ng reasonable steps for the prevention and detection of fraud and other irregularib'e$. The trustees are responsiblg for the maintenance and inlegnty of the charity and financial Infermation included on the charty's website in accordance ￿th legislation in the United Kingdom governlng the preparation and dissemination of fin8nrAal slatemenls. Revlew ol thè Year. Progrèas and A¢hlevements In compliance with Ils objectives. the Twst awarded £16,81212021'. £17.8801 to six ellgible s¢hools in the provision of special i.e. non-petsonal, benefrts. For one hundred and one deserving individuals there were grants tolalling £40,39112021.' £15,856>. Further promotion of the education of ¢hildr8n and young people was aided by the grantin9 of £80,608 12021.. £81,460) for the fundlng of such mattgrs as faeililaling a counselling servlces across the schools, special acl'vilies of local youth groups, and in support of tsvo l¢xal schools which have been reclassified as they now receive fvnding from central government rather than the local authorfty. All applications meeting appllcation crtteria ond being in line whh the Trn8t's Grant GMng Poll¢y were

HENLEY EDUCATIONAL TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 R•viow of the Year, Progro88 and Achiovements (contlnuodl mel. The number of requests from individuals increased due lo the fact that COVID 19 lockdown strictions, which ￿ad to the temporary dosure of schools and suspension of enrichment aclivilies, were lifted during the year. Flnancial Activitles and Affairs Gross income in the financial year ended 31 March 2022 amounted lo £137,532 12021., £129,464) of which £139.561 12021.. £115,446) was used in charitsble purposes. £14,133 12021.. £17,701) was charged on investment matters, and £6,400 12021.. £6,874) was incurred in governance costs. Pollclos on R￿erveS, Invo8lm•nts and Rlsk R￿eryO$ The trustees establish reserve5 at the end of each year as nece88ary to en8ure that fvnd8 remain available lo meet commitments that they have made but not paisj. Reserves are also set aside lo meet the costs of particular inrtialives. In 2020 the Irusloes were of the opinion that the current amount of the Income Fund was such that it was probabty appropriate to release approxlmalely £100,000 In furtherance of the Trust's appioved acts'vitles over the comlng years. £7,815 was released during ihe year lo support grant-giving at a time of a higher volume of grant requests. Investment Policy The Iruslèes Seek appropriate professional advlce and undertake regular inveglmènt reviews to ensure that a balancè is kept btheen malntalnlng capltsl values and the 8UStainable generation of Income. The Trust's aim is lo be able to meet the claims of future applicants in an equivalent manner to the way rt supports current bèneficiaries. Exposure to Rlsk The trustees have reviewed the risk3 faced by the Trust and consider Ihey have implemented action to mitigate these risks Each year a detailed review of Investment pollcy is undertaken in conjundion wrth independent investment aa￿lser Redmayne Bentley LLP. Con$equenWy, there 1$ a portfollo of equities and fixed interest securities, which is kept under regular review and 1$ subject to appropriate formal reporting lo and consideration by the trustees. Additionally, thère is signrficant investment in 8 single proFerty 4thich 18 leased and from whkh a major source of income is derived. The property is managed In consultation wlh our professional advisèr Simmcfis and Son$. and it 1$ fvlly insured against Structural damage and any consequent loss of rent. Each year the truste08 review the financlal Control procedures. sU￿ldiary •ndovm)•nts The tN$tadminislers separate endowments, belng the Brak8pear Prize Fund, from which an annual grant is made In conlunetlon with the Prindpal, to students at The Henley College, and the Mary Clarke Music Award, which offer8 SUPPOrt for musical activilies. Durlng the year a grant of £50012021.. £2501 was made from the Brakspear Prize Fund, and a grant of £1.250 12021.. Nil) was made from the Mary Clarke Music Fund. These endowments are separately invested and accounted for. Futurn Plan8 The trust plans lo continue the 8Ctlvitles as ouuinod abovo in fvlure years. Approved by the Tru8tees on 16th January 2023 Signed on behalf of the Board of Trustees Mrs A Heath (Chair}

HENLEY EDUCATIONAL TRUST

INDEPENDENT EXAMINERS' REPORT

TO THE TRUSTEES OF THE HENLEY EDUCATIONAL TRUST

I report to the charity trustees pm my examination of the accounts of the Trust for the year ended 31 [s1 ] March 2022, which are set out on pages 8 to 16.

Respective responsibilities of trustees and examiner

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act')

I report in respect of my examination of the Trustees' accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or,

2. the accounts do not accord with those records; or,

3. 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 20078 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK.

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.

J C R Lawrence-Archer - Chartered Accountant

Firm: Bruton Charles Chartered Accountants The Coach House Greys Green Business Centre Henley-on-Thames Oxfordshire RG94QG

Date: 16[1h ] January 2023

7

HENLEY EDUCA TIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 InGome Endowm•nt Fund Funds Total 2022 Notg 2021 INCOMING RESOURCES Rents Diwdends and Interest Reimbursement of propety insurance 61.000 75,180 765 61,000 75,767 765 56,750 72,098 616 587 Total Incomlng R•sourc•8 136,945 $87 137.S32 129,464 RESOURCES EXPENDED Charitable Aclivilies.. Grants payablo in furtherance of objects 137,811 1,750 139,561 115,446 Cost ol Generatlng Funds.. Investment management Property management Proporty insurance 13,584 13,584 15,795 1,290 616 540 540 549 13,584 .14.133 17,701 Govemance costs 6,400 6.400 6,874 T¢)tal Resources Expendèd 144,760 15.334 160,094 140,021 Net Outyoing Ro$ourcos -7,815 -14.747 .22,562 .10.557 Net gain Ilossl on Sale of investments Net gain Ilossl on revalue of inve$trnenl$ 33,650 86,534 33.650 86,534 15,913 289,569 Net Movoment In Fund8 -7,815 105A37 97,622 294,825 Total fvnds brought forward 240,680 3,715,090 3,955,770 3,660.945 TOTAL FUNDS CARRIED FORWARD 232,865 3,820.527 4,053,392 3,955,770 The notgs on pages 10 to 16 form part of these accounts

HENLEY EDUCATIONAL TRUST BALANCE SHEEr AS AT 31 MARCH 2022 2022 1021 FIXED ASSETS: Investments 3,970,440 3,857,179 CURRENT ASSETS., Debtors National Saving8 Inve8lm•nl Cash al bank & In hand Vouchers 6,893 42.160 38,147 135 11,003 42,156 51,030 90 87.335 104,279 CURRENT LIABILITIES: Creditors-. Amounts falling duo wlhin one year 4,383 5,688 NET CURREMT ASSETS 82,952 98,591 TOTAL ASs￿s LESS CURRENT LIABiunE8 4.053,392 3.955,770 THE FUNDS OF THE CHARITY: Unrestricted Income Fund ErKlowment Funds 232,885 3,820,527 240,680 3,715,090 4,OE3,392 3.9S5,770 Signed on behalf of the Board of Trustees Mrs A Heath (Chair}

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 1. ACCOUNTING POLICIES 8•81s of A¢¢ountlng The accounts lfinancial ststemenlsl have been prepared under the historical cost convention wlh items recognised at cost or tran$8Ction value unless otherwise slated In the relevant nolelsl to these account$. The financial 51atemenl8 have been prepared in accordance with Accountsng and Reporting by Charities.. Statement of Reoommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The Tru8tconstrtutes a public benefit enlily as defined by FRS 102. The Trustees consider that there ar• no material uncertainties about the Tiu$l's ability to continue as a going concem. R•Gonclllatlon wSth previous Generally Accopted Accountlng Practic? In preparin9 thè accounts. the trustees have considered thether in applying the a¢counling policies required by FRS 102 and the Char￿￿$ SORP FRS 102 A restatement of comparative items was needed. No reststemenls wer0 required. In Sccordance with the requlrements FRS 102, a reconcillatlon of opening balances and net incomelexpendilurel for the yèar 18 provided ￿th the net incomel{expenditure} under previous GAAP adjustgd for the presentation of investment gainslllosses} as a component of reportod income. Income recognltlon All income 18 recognised once the T￿$1 ha3 enlilement to the income, it is probable that the income will be received an¢J Iho amount of income recelvaUe can be measured reliably. Donation$ are recognised when the Trust hos been nolffied In writing of both the amount and setdemenl date. In the event that a donation 1$ subject to conditions that require a level of perfomiance before the Trust is enlrtled lo the funds. the income is deferred and not recogni8ed until either those condi(ions are fijlty met. or the fulfilmenl ef thcjse conditions is whdly wllhin the control of the Trust and it Is probable that those conditions will be fulfi'lled in the reporting period. Legacy gifts are recognisèd on a case-by-case basis following the granting of probatè when the adminislralorlexecutor for the e8tate has communicated in writing both the amount and settlèment d8le. In the event that the gift is in the fom of an asset other than ￿$h or a financial asset traded on a recognised stock exchange. recognition is subject to the value of the grft being rellably measurable wth a degree of reasonable accuracy and the trtle to the asset having been transferred to the Trust. Interest on funds held on deposit in included when recewable and the amount can be measured reliably by the Trusl,. this is normally uporb notiflcalion tsf the interest paid or payable by the bank. Dividends are recognised once the dlvKlen(I has been declared and nolificalion has been received of the dividend due. Thls18 nomially upon notfficalion by our investment adviser of the dividend yield of the investment portfolio. Expèndlture rfjcognltlon Liabilities are recognised as res￿ree5 expended as soon as there is a legal or ¢on5truGtive obligation commitling the Trust to the expgnditure. All expenditure 18 accounted for an on accruals basis and has ken classified Lsnder headings that aggregate all costs related to the catsgory. Grant8 payablg are payments made to third partieg in the furtherance of the Charitable Objective of the Trust. Grants are a￿OUnted for when the reciplenl has a reasonable expe¢tstion that they will receive a grant and the trustees have agreed to pay the grant wlhoul condition. Provisions for grants are made when the intent￿￿ lo make the grant has been communkaled to the recipient. io

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 1. ACCOUNTING POLICIES ¢contlnuod} Irrècoverable VAT Ifrecoverable VAT is charged against the expènditure headlng for which it 1$ incurred. Allocatlon of overhead and 8UPPOrt costs Overhead and support costs have been allocated behveen charhabl• activity and govemance. Overhead and glJPPOrt costs related lo Charitable Activities have teen apportioned based on the number of individual grants made. Govemanco costs Governance costs comprise all costs involving the public accounl8bllily of the Trust and rts compliance with regulation and good ptacti¢e. These costs include costs related lo the independent èxamination and legal fees together with an apportionmerbl of overhead and support costs. Taxation The trust is a registered chanty and accordingly is exempt from laxalion on Its income and grants vknere they are applied for charitable purposes. Flxgd asset inveBtm•nts Investments are a form of bas￿ financial instrument and are Initlally recognised at their transactlon value and subsequentty measured at their lair value at balance 8heel dale using the closed quoted market price. The ststemenl of financial activities includes the nel gains and losses arislng on revaluab'on and disposa15 throughout the year. The Trust dogs not acquire pul options, derivatives or other complex financial Instrument8. The main form of financial risk faced by the Twst 1$ th81 of volatility In equity markets and investment markets dLre lo wider economic conditions. the attitude of investors lo investment risk. and changes in senllment concemlng equities and within particular seGlors or subsgdors. Depreclatlon There are no assets for whlch depr￿lation 1$ pmvided. Reallsed and unr•alised inv•stm•nt gains and I￿Se3 All gains and losses are taken lo the Statement of Financial ActSvities as they arise. Reali8ed gains and losses are calculated as the difference be￿en sale proceeds and opening market valu? or purchase cost if later. Unreallsed gains and losses are calculated as the differenee be￿een the market value at the year end and opening market value. Realised and Un￿alISed gains and1088es ale separated In the stslemenl for financial activille8. Sub$ldlary gndo*Thents The income and expenditure of the Brak¥￿ar Prize Fund and the Mary Clarke Music Award are dealt with in note 9 to the accounts. li

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 2. INVESTMENT INCOME 2022 2021 DivKlends and interest: Dlvidends from UK secudlle8 Interest on fixed interest stock Interest on COIF deposit funds Interest on bank and NS&I deposit8 38,002 37,673 88 45,253 26,289 275 301 75.767 72,098 Apporlioned.. 8rak8pear Prko Fund Mary Clarke Music Award 293 289 289 587 578 Income Fund 75,180 71,520 75,767 72.098 3. DIRECT CHARITABLE EXPENDITURE 2022 2021 Grants.. Sectlon 2812)(bl {see note 101 Section 28131 (see note 10) Sect5￿ 28141 {8ee note 10) 16,812 40,391 80,608 17,880 15,856 81.480 137.811 115,198 Brakspear Prvze Fund l¥ee note 10) Mary Clarke MusiG Award (see nots 101 500 1,250 250 139,561 11S.446 12

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 GOVERNANCE COSTS 2022 2021 Bank charges Independent examiner5 fee Insurance Office supplies Salary Professional lee8- clerk 1.200 578 302 1,200 568 693 1,533 2,880 4,320 6.400 6.874 The Trust ha8 no employees. The Clerk role was carriod out by a self*mployeil $ervKe provider. S. TRUSTEES REMUNERATION AND RELATED PARTY TRANSACTIONS No trustee, nor any person connected with them, ￿colved remuneration for their seNicgs as trustees., any duty authorised expenditure incurred on behalf of the Trust was reimbursed. Additionally. there have bgen no related party transactions in this accounting year or in the previous year. 6. DEBTORS 2022 2021 Investment manager re investment income Intoresl accrued Property insurance paid in advance Insurance paid In advance 2,820 3,494 2.237 8,243 145 378 6,893 11,003 7. CREDITORS 2022 2021 Independent Examiner's fee HMRC Grants.. Se¢tKJn 28131 Propety insurance receNed 1,200 1,302 1,700 180 1.200 1.302 3.041 145 4,383 5,688 13

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 8. FIXED ASSET INVESTMENTS All Investments were held in Ihe UK and can be analysed as follows.. Cash Investment ro UK Listed Investmen 2022 Total 2021 Total Valuation as 1 April 2021 200,874 875.000 2,781,305 3,857,179 3,592,628 Movement durlng year- Interest Invested Wrthdrawn 9,415 9,415 9.418 334.115 334,115 445.178 -315.052 -316,802 -495,427 15,813 289,569 -1,750 Net gain (loss} on revaluation 86.534 86,534 7,665 105.596 113,261 264.551 Valuation at 31 March 2022 208.539 875.000 2,886.901 3.970,440 3,857,179 Equities Fued interest and Managed Funds 675,107 2.211.794 876.898 1.904.407 2,886,901 2,781,305 The inve8trnent property 15 1 Market Place12 Duke Street, Henley-orFThames, and the value is the market value as provided in a report by Mr T B Dunn MRICS. Simmons & Sons. Chartered Surveyors, 32 Bell Street, Henley-onwThames, Oxon, RG9 18H, dated 101h May 2017. The li$led investment8 Portfolio is oomprised of equities and fixed inlereyt seeurilies as established on the advice of and in consultation wf(h our independent professional advi8er Mr N McGregor, Redmayne Bentley LLP, 43 Market Place, Henley.tsn-Thames, RG9 2AA. The portfolio is kept under review and is subject to annual formal reporting to and consKJeration by the trustees. 14

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 9. MOVEMENTS ON FUNDS 2021 Fund blfwd 2022 Fund clf Incoming Resource Outgoing Transfors Net gain1105sI resourc6 on investments Endowm•nt Funds Periam 3,692,707 Brakspear 11,067 Mary Clarke 11,316 13,584 500 1,250 118.481 3.796,604 851 11,712 851 11,211 293 3,715,090 587 15,334 120,183 3,820,527 Unro8trict•d Funds Income 240,680 136,945 144,760 232,865 3,955,770 137.533 1p￿.0?4 120,183 4,053,392 PRIOR YEAR Endo%•miont Funds Periam 3.390,693 Brakspear 9,344 Mary Clarke 9.343 302,014 3,692,707 1,684 11,067 1,684 11,316 289 289 250 3,409,380 578 250 305,382 3.715,090 Unrgstrictsd Funds Income 251,565 128,886 139,771 240,880 3.660.94S 129,464 140,021 305,382 3,9S5,770 Pwlam This fund ha5 exi$tsd in one form or another since 1604 aiising from various endowments. Tho purpose of the fund 18 to provide income lo.. al prowde Special benefits to local 8chool8 bl prov￿8 needed educational support lo people aged under 25 and restricted to those nomially residgnl in the Henley area, and c) generally promoting the education of chiklren and young persong resident in Ihe Henl¢y area. Brnkspear Thls prfze fund was donated in 1882 by the late Wlliam Henry Brakspear lo be awarded annualty, on the recommendation of the Principal, to students attending Thg Henley College. Mary Clark• This fund was crèated in 2000 by donations in memory of the late Mary Clark&. The purpose of the fund is to provide an annual music award at the disuetion of the Trustees. Income This fund Is unrestr￿ted and is unallo¢ated m¢Xtie$ arlslng from the Periam Fund invgstmonts. 15

HENLEY EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 10. GRANT DETAILS 2022 2021 Section 2812> (bl- special benefit for schools (see Trustees Report) Badgemore Crazies Hill Nettlebed Sacred Heart Trinity Valley Road 2,394 280 496 3.041 6,601 4,000 2,160 257 513 3.935 6,737 4,278 16.812 17.880 Section 28131- individua18 in need 101 individual grants12021.' 39) 40.391 1S.8S6 Section 28 {41- wlder eduCa￿Onal support Gillott8 Academy The Honley College Honloy Crickftt Club Henley Sch¢Jols Partnershlp Icoun8elling service} AFC Henley Henley Youth Feslwal 19.846 8.240 4.000 45,162 600 2,760 18,140 8,170 55,150 80,808 81,460 Sub-Totsl Income fvnd (as above) Brakspear Fund Mary Cl8rk Award 137.811 500 1.250 115,198 250 Totsl Grants and Awards 139,561 115,446 16