Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Registered Charity Number: Xl9241
THE WALTER BIGG FOUNDATION
FOR WALLINGFORD SCHOOL
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
The Walter Bigg Foundationfor Wallingford School
INDEX
Trustees, Report
Reference and Administrative Details
Objects and Activities
Achievements and Performance
Financial Review
Future Plans
Structure, Governance and Management
Statement of the Trustees, Responsibilities
io
Independent Examinerfs Report
li
Statement of Financial Activities
12
Balance Sheet
13
Accounting Policies
14
Notes to the Financial Statements
16

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS
The Charity Name:
The Walter Bigg Foundation for Wallingford School
Registered Charity Number.
309241 (registered with the Charity Commission for
England & Wales)
Legal structure of the Charity:
Established by a Scheme dated 25 November 1998,
amended via a resolution dated 30 September 2015
and its goi'erning document is a Scheme Document.
Charity Address:
Merchant Ta},lors' Hall
30 Threadneedle Street
London, EC2R 8JB
The Trustees in office during the year and Mr N Carberry (appoiiited 23 SLVteinber 2024)
at the approval of the accounts:
Mr J Cuthbert
Cllr C Holford
Cllr N Hughes
Mr C O'callaghan (appointed Chairmfin 13 Iuly 2023)
Mr J Peel
Dr J Sichel
Bankers:
C. Hoare and Co.
37 Fleet Street
London. EC4P 4DQ
Investment Advisors:
Rathbone Investment Management Ltd
8 Finsbury Circus
London. EC2M 7AZ
Independent Examiner:
Cara Turtington, FCA
Saffery LLP
71 Queen Victoria Street
London. EC4V 4BE
Solicitors:
Winckworth Sherwood
6 Beaumont Street
Oxford, OX2 2LZ

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their Report and Financial Statements for the year ended 31 March 2025.
The Financial Statements comply with FRS102 SORP (Statement of Recommended Prartice for Accounting and
Reporting by Charities) (Second edition) applicable to charities preparing their accounts in the UK and Republic
of Ireland and in accordance with the Charities Act 2011.
OBJECTS AND ACTIVITIES
ChaTitable Ob'ects
The principal Object of the Charity is to invest in property to be used as part of a secondary school in
Wallingford. Under the Activities and Achievements below, we report that currently no suitable asset has
been identified. Income arising from the Charitys investments is, as a first priority, applied to providing items,
services and facilities for Wallingford School and. as a second priority, to promoting education (including
instruction in the doctrines of the Church of England and social and physical training) for young persons aged
11-25 residing in Wallingford.
The Charity operate5 three separate funds:
1 } Walter Bigg Fund - Wallingford School: income from investments in this fund and the Walter Bigg
Foundation Propety Fund is used:
To provide items, services and facilities for Wallingford Sch(x)l.
b. Otherwise to promote the education of children and young persons (aged between 11 and 25)
resident in Wallingford,
in the above order of priority,"
2} Hedges Chemical Science Fund - Wallingford School: provides income to award prizes in natural
sciences to pupils attending Wallingford School.
3} Walter Bigg Foundation Property Fund. in which the proceeds from the sale of property formerly owned
by the Trust on the upper school site are held. Trustees have adopted total return for this fund.
Activities
The Trustees have reviewed their activities throughout the year and are satisfied that they have acted in
accordance with the Charitws Objects and have met their aims and objectives.
The Charity aims to have a demonstrable positive impact on Wallingford School and its students. The Charity's
objectives for the year were to continue to pursue the stated aims as faithfully as possible, whilst maximising
income from investments. The Trustees considered all options for the best use of ￿ndS in advancement of the
Charity's Objects. Trustees worked closely with Wallingford School and also assessed requests for funding in
connection with young people residing in Wallingford.
The Charity owns 100 % of the Title ON238572, which makes up 55 % of a playing field in Wallingford, sltuated
west of St Georges Road. During the year, the charity continued to work with the Oxfordshire County Council
(OCC) and Wallingford School to make the best use of the combined estate in order to satisfy the request by the
OCC to accommodate further children at the school. It is anticipated that the School will continue to grow in
the coming years, bringing the total pupil numbers up to around 1,600 by 2024125. The above-mentioned

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
expansion of the School could only be undertaken if there was a car parking solution. As a consequence the
Charity has leased its ownership of the field to Wallingford School. On the field there is a car park- principally
for the benefit of the School.
The aforementioned Title also includes the Charitys ownership of a one-meter-wide ransom strip between
Walter Bigg Way and Ayres Yard in Wallingford. tknring the year the Trustees continued to explore Options of
how the ransom strip should be managed in the future.
Strate
The strategy for the year has been to continue to consider favourable applications that matched the Charitf s
Objects. The Trustees endeavoured to make the best use of monies available from the funds of the Charity.
Public benefit
The Trustees have paid due regard to the Charity Commission's guidance on public benefit in managing the
activities of the Charity. The Charit! is e5tabli5hed for purposes which benefit Wallingford School and the wider
public in Wallingford's immediate enl'irons.
The Charitf s public benefit is enshrined in its Charitable Objects. The Trustees reserve the right not to disclose
reasons why a particular application may have been approi'ed or rejected, so as not to impugn their discretion,
but will not discriminate on the grounds of any characteristic protected by the EqualityAct or any other relevant
legislation.
GTant-makin
olicies
Grants are awarded in accordance to the funds, purposes as outlined in the Charitys Objects. Due regard is
paid to the requirement to balance the needs of current and future beneficiaries.
ACHIEVEMENTS AND PERFORMANCE
Following the itnpasse in negotiations with the OCC to invest the Charitrfs capital in the Wallingford School
site, as TepoTted previously, the Charity Commission directed the Trustees, in April 2005, to invest the proceeds
from the sale of part of Wallingford School upper site and to apply the income arising in accordance with clause
26 of the Trust scheme.
The Charity Commission directed that the Trustees should regularly review this position and acquire further
property for the purposes of a school, when a suitable opportunity should arise. At each meetin& the Trustees
have considered whether a suitable property may be acquired for the purposes of the school; no such property
was identified in this year.
During the year the Trustees paid grants of £295,105 to Wallingford School, of which £124,255 had been accrued
in the previous year. Most of the grants paid out were for projects that made a genuine difference for specific
school groups, including the following:

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
STARS PTogramme
This project aims to celebrate every student at some point in their school
career, through departmental nominations and prizes. It is unusual for a
school to give every student the chance of an event outside of school for
doing well, but without particularly standing out. These students are the
ones that shape the culture of the school. but could easily feel they are not
reco
ised.
This is a high-impact event and crucial in a year in which so much change
took place. Staff from Merchant Tavlors, Oxfordshire Academy Trust
attended again, and the conference proi'ided the opportunity for all staff
to spend time reflecting, learnin& discovering and MTOTking together.
Following the conference, the school had a 'risk week, where staff were
encouraged to select ideas, strategies and initiatii'es showcased at the
conference that the
had not used before.
The Scholars, Programme is an essential element of the school's provision
and particularly so under the new Inspertion Framework. The school has
grown the staffing for the programme and started some in-class delivery.
This event reinforce5 the Sense that SEN children are a 'cool' group in
themselves. It Is a trip the students look fornrard to and other children are
am'are of. It sa
s much about the school that this event is run.
This event is crucial to preparation for A-Level examinations. The
students spend a week revising for 7.5 hours a day, with staff on hand to
be able to take small
rou
s for tar
eted revision sessions.
Staff Conference
Scholars,
Programme
SEN Residential
Year 13 Residential
Revision Trip
Perforniance a
ainst strate
The Trustees, at each meeting, reviem, property opportunities as mandated and then consider applications for
funding that fall within the scope of the Charity. Those funding requests will come both from interactions with
the full Governing Body of Wallingford School and those in the required location (Wallingford} and age range
(11-25). Awards are made with an attempt to reach as large a number as possible (the School, a year group or a
particular initiative) or those whose individual circumstances (less fortunate than others) which could be
materially changed by something that they would not usually experience. The Trustees are satisfied that they
have performed well against their strategy and made a difference to the beneficiaries of the Charity.
The Charity benefits the wider society by enhancing facilities at Wallingford School and opportunities for its
students and staff. In addition, grants are awarded to enable Wallingford students to undertake community
work and volunteering opportunities abroad.
Investment
erforniance
The market value of the investments at year end was ts,647,818 (2024: £5.760,315). The investment income was
similar to the prior year with income of £128,977 (2024- £114,721) from listed investments with Rathbone
Investment Management Ltd as well as holdings with CCLA-COIF and Schroders. The Charity's Trustees are
pleased to note that the value of the investments has recovered since year end, but will be rei'iewing the
situation regularly in light of the likely long terni impact on the global economy of the Covid-19 pandemic and
otheT factors.

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Financial
osition at
ear end
The financial position of the Charity at 31 March 2025 and comparatives for the prior period, as more fully
detailed in the accounts, Can be summarised as follows-
Financial review of position at the end of the reporting period
2025
2024
Net (expenditure) / income after
accounting for reali5ed and unrealised
gains on investment a55ets
(24,040}
288,295
Unrestricted Revenue Funds available for
the general purposes of the Charity
102,890
21,032
Restricted Revenue Funds
3,951
3,951
Endowment Funds
5,560,601
5,666,499
Total Funds
5,667,442
5,691,482
The TTUStees consider the financial performance by the Charity during the year to have been satisfactory.
Specific changes in fixed assets are detailed in the notes to the accounts.
The board of Trustees is satisfied that the Charity's assets in each fund are available and adequate to ￿lfIl its
obligations in respect of each fund.
Reserves
olicies
The high level of accumulated revenue, from the capital arising from the sale of Charity land, is being spent in
accordance with the Charity s Objects. The aim of the Trustees has been that expenditure should exceed income
for a short period so that the revenue balance is reduced oi'er time but at a rate that ensures donations from the
Charity benefit pupils of several generations in Wallingford School. The revenue balance is itself generating
further income. The Trustees have in the past expected to hold at least £300,000 in free unrestricted reserves
and this expectation compares with the actual free reserves of £102.890 (2024: £21,032) - a recovery on the
previous year. The reserves policy is subject to ongoing review.

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Investment oli
ob'ectives
The Trustees adopted a resolution to invest the charitys permanent endowment on a total return basis on 8
December 2020 with effect from l April 2021. Trnstees agreed an original value of the endoMFment of £2,995,158
and unapplied total return of £2,513,414. through review of historic accounts and based on being the value of
the endowed investment as at 31 March 2010. It was agreed to transfer £228,977 to income in 2024125.
The Trustees, agreement, in the 2020121 year, to adopt a policy of Total Return on the Charity's investments
took effect in the 2021122 year. The change, driven by low dividend paynients and interest rate yields, is
designed to allow the Charity to be further able to Use funds that will a5SlSt its beneficiaries.
The Trustees have drawn up an investment policy covering the investment of the capital held in the Walter Bigg
Foundation Property Fund. The main perfonnance aims are that the capital value and income should grow at
least in line with growth in the UK RPI, with a minimum overall income target of 3.25010 per annum, net of any
tax. Benchmarks are agreed with the Investment Manager to apply to each individual investment. Quarterly
reports are made to the Trustees by the Investment Manager.
Recognising the inherent volatility of investtnent markets, the Trustees are looking for sound performance of
individual investments against their benchmarks and achievements of the overall growth target against RPI on
a Tunning five-year time scale.
Risk mana
ement
The Trustees regularly review their Risk Register, which details the present status of those operational risks
which might diminish the Charitys effectiveness. and the measures in place to mitigate them.
The most significant risk to which the Charity is exposed is the value of, and yield from, its investments.
Investments in financial instruments are monitored c105ely, with regular scrutiny of the Investment Managers,
performance taking place.
The Trnstees militate against financial fraud through funds being awarded by the collective decision of the
Trustees. At least two Trustees have to approve payments before being administered by the Merchant Taylors,
Company. A further two authorised signatories are required for payments to be sent electronically or via cheque.
FirruRE PLANS
The Charity is continuing to support the development of a 'biodiversity area, at the school, set up in memory
of a former Trustee of the Charity. School pupils and l(Kal charities have been involved in the design and
planning stages, and it is intended that the garden will ultimately be open to members of both the school and
local community.
In recognition of the Chariws commitment to supporting the education of all young people aged 11 to 25
Tesident in Wallingford the Trustees are bringing focus to various expansion opportunities at both Brightwell
School and Wallingford School under a broad umbrella narrative called Think Bigg.
Finally, the Charity is cognisant of the continuing impact of the Covid-19 pandemic on the schools, operations
and will continue to support emerging priorities where possible.

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustee a
ointments
The composition of the board is made up of the following:
A minimum of five to a maximum of seven Trustees in total.
Up to two governors from Wallingford School, appointed by the full governing body, who are eligible
to serve a four-year term at the end of which a reappointment or a new appointment Is made.
Up to two Trustees appointed by the Wallingford Town Council, M,ho are eligible to serve a
four-year terni at the end of which a reappointment or a new appointment is made.
One Director from the Merchant Taylors, Oxfordshire Academy Trust, appointed by the Board of
Directors.
Up to two Co-opted Trustees to be nominated by the existing Trustees.
There should always be one member of the Merchant Taylors, Company serving within the Trustees
of the Walter Bigg Foundation.
The Chair of the Merchant Taylors. Oxfordshire Academy Trust, the Headmaster and the Chairman of
Wallingford School's governing body are in attendance at the meetings.
Induction and trainin
of Trustees
New Trustees are briefed by a fellow Trustee after appointment. Trustees are able to attend annual training at
the Merchant Taylors, Hall, led by legal and accountancy advisers.
Decision and deIe
ation
Decisions relating to the Trust are taken by the Trustees in accordance with the rules in the governing
document. Decisions are made by a simple majority of votes, the Chairman having a casting vote in the event
of a tie. A quorum exists when three Trustees are present.
The Trust does not employ any staff. The Trustees are volunteers and do not receive payment for fees or
expenses. Their involvement is through their close association to Wallingford School, the Merchant Taylors,
Company 3nd/or the environs of Wallingford.
The day to day management of the Charity is delegated to Brade5trete Service5 Ltd, a subsidiary of the
Merchant Taylors, Company.
To the date of signing the Chief Executive Officer is Brigadier Christopher Coles, as Clerk to the Merchant
TayloTS' Company.
The Chari
and its wider network
1 } Wallingford Town Council
2} Governors and Headteacher of Wallingford School
3) Directors of the Merchant Taylors. Oxfordshire Academy Trust
4} The Merchant Taylors'company
There is no official link between these entities; however their field5 of operation are central to the Charity's
considerations.

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF THE TRUSTEES. RESPONSIBILITIES
The Charity's Trustees are responsible for the preparation of the accounts in accordance with the Charities Act
2011 and the Charities (Accounts and Reports) Regulations 2008. Noh%Fithstanding the explicit requirement in
the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial
statements in accordance with the SORP 2005. in view of the fact that the SORP 2005 has been withdrawn, the
Trustees deteTmined to interpret this responsibility as requiring them to follow current best practice and
prepare the accounts according to the FRS102 SORP (Statement of Recommended Practice for Accounting and
Reporting by Charities) (Second edition.)
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for
each financial year which give a trne and fair view of the state of affairs of the Charity and of the incoming
resources and application of resources, of the Charity for that period. In preparing these financial statements,
the Trustees are required to-
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP (FRS102);
make judgements and estitnates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements,"
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 proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations and the provisions of
the Trust Deed. They are also responsible for safeguarding the assets of the Charity and for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
10 October 2025
The Report of the Trustees was approved by the Trustees on ............................ and signed on their behalf.
SwJhÈd by.
br.
Conog'OEAffashan
Trustee
F4414..
Trustee
(If we type or otherwise electronically sign our names. we confirm that we intend to authenticate this
document by so doing.)
io

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundation for Wallingford School
INDEPENDELVF EXAMINTER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT EXAMINER'S REPORT
I report to the trustees on my examination of the accounts of the Walter Bigg Foundation for Wallingford School
(the Charity) for the year ended 31 March 2025.
Respective Responsibilities of Trustees and Examlner
As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with
the Tequirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act.
Basis of independent examinefs report
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination include5 a review of the accounting records kept by the charity and a comparison of the
accounts presented with those records. It also includes consideration of any unusual items or disclosures in the
accounts, and seeking explanations from you as trustees concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is
given as to whether the accounts present a 'true and fair Vie￿ and the report is limited to those matters set out
in the statement below.
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 an), material respert:
l. accounting records were not kept in respect of the Charity 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 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.
Signed (If I type or otherwise electronically sign my name. I confirm that l intend to authenticate this
document by so doing):
Docllsigned by:
14 Ortober 202S
Saffery LLP
71 Queen Victoria Street, London, EC4V 4BE
li

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundationfor Wallingford School
STATEMENT OF FINANCIAL ACTtvrFIES
FOR THE YEAR ENDED31 MARCH 2025
Current Year
Unrestrided
Funds
Current Year
Current Current Year
Prior Year
Restricted
Year
Total Funds Total Funds
Funds Endowmen
t Funds
2025
Note
2025
2025
2025
2024
Income and endowments from:
Donations and legacies
98
Investments income
128,977
128,977
114,721
Interest
483
483
1,003
Total return allocated to income
13
228,977
(228,977)
Total income
229.460
(ioo.000)
129.460
115,822
Expenditure on:
Raising funds
Investment management costs
Expenditure on charitable
activities
Total expenditure
18,472
18,472
147,602
17,794
334,789
147,602
147,602
18,472
166,074
352,?83
Net income
81,858
(118,472)
(36.614)
(236,761)
Net gains on investments
Realised & unrealised gain5 on
investment assets
12,574
12,574
525,056
Net (expenditure) l income and net
movement in funds
81.858
{105,898)
(24,040)
288,295
Fund balances brought forward at
l April 2024
21,032
3,951
5,666.499
5.691,482
5,403,187
Fund balances Ca￿lea forward
31 March 2025
102,890
3,951
5,560,601
5,667,442
5,691,482
All income and the net movement in funds are derived from continuing activities.
The notes on pages 14 to 24 form part of these financial statements.
12

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
Walter Bigg Foundutionfor Wallingford School
BALANCE SHEET
AS AT 31 MARCH 2025
Note
202i
2024
Fixed assets
Tangible assets
Investments
io
li
5,647,818
5,647,823
i,760,31i
5,760,320
Current assets
Cash at bank
29,635
29,635
105,844
105,844
Creditors: amounts falling due
within one year
12
10,016
174,682
Net current liabilities
19,619
(68,838)
Total net assets of the charity
5,667,442
5,691,482
Funds
Restricted funds
Restricted revenue funds
14
3,951
3,951
Unrestricted fund
Unrestricted revenue funds
14
102,890
21,032
Endowment funds
Capital
14
5,560,601
5,666,499
Total Charity Funds
5.667.442
5.691.482
10 October 2025
These financial statements wereapproved by theTrustees on...................................
SkJned by..
Sbjned by..
PLtL
Conor
Trustee
F4414..
Trustee
The notes on pages 14 to 24 forni part of these financial statements.
13

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
The Walter Bigg Foundationfor Wallingford School
ACCOUNTING POLICIES
FOR THE PERIOD ENDED 31 MARCH 2025
Accounting poIicies
These finanaal statetnents have been prepared in accordance with 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) (second edition) (Charities SORP (FRS 102)) and applicable accounting standards.
1.1 Accounting convention
The financial statements are prepared in sterlin& which is the functional currency of the Charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statetnents have been prepared on an accruals basis under the historic cost convention,
with the exception of investments which are stated at market value. 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 proi'ide a true and fair view. This departure has involved
following the SORP rather than Accounting and Reporting by Charities: Statement of Recommended
Practice (revised 2005) which has been withdrawn.
Advantage has been taken of the exemption for charities with income less than £500,000 from preparing
a cash flow statement.
The Charity constitutes a public benefit entity as defined by FRSI 02.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the
Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the
trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income and endowments
Income is recognised when the Charity has entitlement to the funds, any performance conditions
attached to the item(s) of income have been met, it is probable that the income will be received and the
amount can be measured reliably. All incoming resources are included in the Statement of Financial
Activities when the Charity is entitled to the income and the amount can be quantified with reasonable
accuracy. The following specific policies are applied to particular categories of income:
Donations and legacies are included in full in the statement of financial activities when receivable.
Income from charitable activities is accounted for when earned.
Donation5 of services and facilities are included in the accounts on the basis of the value of the gift to
the charity.
Income from investments is included when receivable.
14

Docusign Envelope ID.. 245B773A-CA37441 [￿A4￿22B81 D80853C
Walter Bigg Foundutionfor Wallingford School
ACCOUNTING POLICIES
FOR THE PERIOD ENDED 31 MARCH 2025
1.4 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Expenditure on raising fund5 Cotnprises those costs directly attributable to managing the investment
portfolio and raising investment income.
Expenditure on charitable activities includes those costs incurred by the Charity in the delivery of its
objectives. It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support them.
Grants are payments made to third partie5 in the furthera￿￿ of the charitable objects of the Charity. In
the case of an unconditional grant offer this 15 accrued once the recipient has been notified of the grant
award. The notification gives the recipient a reasonable expectation that they will receive the one-year
OT multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are
onl}F accrued when the recipient has been notified of the grant and any remaining Un￿lfilled condition
attaching to that grant is outside of the control of the Charity.
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
1.5 Fixed asset investments
Investments are stated at market value at the balance sheet date. Net gains and losses arising on
revaluation and disposals throughout the year are taken to the Statement of Financial Activities.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-terni liquid
investments with original maknrities of three months or less. and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
1.7 FinanciaI instruments
The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially measured at transaction value and subsequently measured at
their settlement value.
1.8 Taxation
The Charity is a registered Charity and is not liable to United Kingdom income tax or corporation tax
on charitable actii'ities.
1.9 Total return accounting
The Trust is entitled to adopt a 'total return. basis when accounting for the permanent endowment fund.
The Trust can use its discretion to apply any part of the accumulated total return on the investment as
income for spending each year. Until this POMTer is exercised the total retum is accumulated as a
component of the endowment known as the unapplied total return that can either be retained for
investment or released to income at the discretion of the Trustees.
15

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 Income from investments
Cu￿ent Year
Total Funds
Prior Year
Total Funds
2025
2024
Income from listed investments
128,977
114,721
3 Investment gains
Current Year
Total Funds
Prior Year
Total Funds
ReaIised gainsl(losses)
2025
2024
Realised (losses) on Listed Investments
(494)
(41,385)
Total realised gains
(494)
(41,385)
Unrealised gainsl(losses)
Unrealised gains/(losses) on Listed Investments
13,068
566,441
Total unrealised gainsl(losses)
13,068
566,441
Total of realised and unrealised gains/(losses)
12,574
525,056
All realised and unrealised gain and losses relate to endowment funds
4 Remuneration and payments to Trustees and peTsons connected with them
No trustees or persons connected with them received any remuneration or reimbursement of
expenses, from the charity, or related entity (2024: none).
16

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
5 Grants
Current Year
Total Funds
2025
Prior Year
Total Funds
2024
Grants paid to organisations
130,105
319,000
Total grant making costs
130,10?
319,000
Breakdown of grants paid to organisations
Current Year
Total Funds
2025
Prior Year
Total Funds
2024
Wallingford Girl Guiding
Wallingford Sch(x)I
1,3iO
128,7i5
319,000
Applications for grants are put forward by the Head of Wallingford School for the Trustees, consideration.
Grants awarded are clearly aligned M'ith the objects of the charity. Most grants are made for the purpose
of improving Wallingford School facilities or for educational trips. A smaller proportion of grants are
awarded for the benefit of individual students at the school who may require additional or specialist
assistance. All grants noted here are from unrestricted funds.
A grant carried over from 2024 of £40.74? Mras not ￿llY utilised and was written off in this financial year.
6 Supporting costs for charitable activities
Current Year
Total Funds
Prior Year
Total Funds
2025
2024
Admin support
Professional fees
Insurance
Management fees
Financial costs
Bank charges
Total Support costs
1,050
828
461
8,740
467
9,066
432
436
11,ill
9,969
All support costs are from unrestricted funds.
17

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
7 Other expenditure- Governance costs
Current Year
Total Funds
Prior Year
Total Funds
2025
2024
Independent examiner's fee
i,986
5,820
Independent examiner's fee is from unrestricted funds.
8 Total expenditure on charitable activities
Current Year
Total Funds
Prior Year
Total Funds
2025
2024
Total support costs
Total grants payable
Total governance costs
11,511
130,105
i,986
147,602
9,969
319,000
5,820
334,789
All expenditure was from unrestricted funds.
All grants made were to Wallingford School (see note 5).
9 Expenditure on raising funds and costs of investment management
Current Year
Total Funds
Prior Year
Total Funds
2025
2024
Investment management cost5
18,472
17,794
All the above expenditure was from endowment ￿nds.
18

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10 TangibIe fixed assets
Land and
Buildings
Total
Cost
At l April 2024 and 31 March 2025
21,175
21,175
Depreciation
At l April 2024
Charge for the year
At 31 March 2025
21,170
21,170
21,170
21,170
Net book value
At 31 March 2024
At 31 March 2025
11 Investsnents held as fixed assets
Listed Investments
Carrying value of investments
At l April 2024
Additions
Movement in cash
Revaluation at 31 March 2025
Disposals
5,760,315
1,770,856
(28,977)
12,574
(1,866,950)
At 31 March 2025
,647,818
12 Creditors: amounts falling due within one year
2025
2024
Grants and donations payable
Accrua15
165,000
9,682
10,016
10,016
174,682
19

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13 Statement of investment total return
Original gift
Unapplied
total Teturn
Total
Endowment
Gift component of pernianent endowment
Unapplied total return
2,995,158
2,995,158
2,671,341
2,671,341
Total Endowment at start of period
2,995,158
2,671,341
5,666,499
Investment return: investment income
Investment return: realised and unrealised losses
Less.. investment management costs
128,977
12,574
(18,472)
128,977
12,574
(18,472)
Total return
123,079
123,079
Transfers to income
(228,977)
(228,977)
Gift component of permanent endowment
Unapplied total return
2.995,158
2,995,158
2,565,443
2,565,443
Total Endowment at end of period
2.995,158
2,565,443
5,560,601
The Trnst is entitled to adopt a 'total return. basis M,hen accounting for the permanent endowment fund.
The Trust can use its discretion to apply any part of the accumulated total return on the investment as
income for spending each year.
20

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14 Movement in funds
Balance
l April 2024
Movement
Balance
In Funds 31 March 2025
UnTestricted funds
Unrestricted funds
21,032
81,858
102,890
Restricted funds
The Hedges Chemical Science Fund
3,951
3,951
Endowment Funds
Walter Bigg Trust Property Fund -capital
5.666,499
(IOi,898)
5,560,601
Total Endowment Funds
5.666,499
(IOi,898)
5,560,601
Total Charity Funds
i,691,482
(24,040)
,667,442
See note 20 for split of comparative information.
15 Analysis of movement in funds
Income
Expenditure
Other Gains
& Losses
Movement
in funds
Unrestricted funds
Unrestricted revenue fund
229.460
{147,602)
81,858
Restricted funds
The Hedges Chemical Science Fund
Endowment funds
Walter Bigg Trust Property Fund - Capital
(iOO,(KiO)
129.460
(18,472)
(166,074)
12,574
12,574
(105,898)
(24,040)
See note 20 for split of comparative information.
21

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16 Analysis of net assets
UnTestricted
Funds
RestTiCted &
Endowment
Funds
2025
Total
2025
2025
Tangible assets
Investments
Current assets
83,271
19,619
5,564,547
5,647,818
19,619
Total
102,890
5,564,552
5,667,442
2024
2024
2024
Tangible assets
Investments
Current assets
Total
89,870
(68,838)
21,032
5,670,445
5,760,315
(68,838)
5,691,482
5,670,450
17 The PUTposes for which the funds as detailed in notes 14 and 15 are held by the charity are:
Unrestricted funds
Unrestricted revenue fund
These funds are held for the meeting of the objectives of the charity, and to provide reserves for the
future activities, and, subject to charity legislation. are free from all restrictions on their use.
Restricted funds
The Hedges Chemical Science Fund
These funds were originally set up on 29th January 1901 to provide chemical science for the benefit
of Wallingford Grammar School pupils.
Endowment funds
Walter Bigg Trust Property Fund - Capital
The Walter Bigg Trust Propert! Fund is the fund which the proceeds from the sale of the property
on the upper school site, formerly owned by the trust, are held. The capital of this fund cannot be
converted into income under the terms of the trust, but the charity can benefit from the income. The
Trust is entitled to adopt a 'total return, basis when accounting for the permanent endowment fund.
The Trust can use its discretion to apply any part of the accumulated total return on the investment
as income for spending each year. This fund is included within these financial statements.
22

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18 UItimate controlling party
The charity is under the control of its Trustees.
19 ReIated parties
There were no related party transactions in the year.
20 Comparative infonnation
Unrestricted
funds
Restricted Endowment
funds
funds
Total funds
2024
2024
2024
2024
Income and endowments from:
Donations and legacies
Investments income
Interest
Total return allocated to income
Total income
98
98
114,721
1,003
114,721
I,(K)3
221,976
223,OT7
(221,976)
1107,255)
115,822
Expenditure on:
Raising funds
Investment management costs
Expenditure on charitable activities
Total expenditure
17,794
17.794
334,789
352,583
334,789
334,789
17,794
Net income after transfers
(111,712)
(125,049)
(236,761)
Net gains / (losses) on investments
Realised & Unrealised losses on
investments
525,056
525.056
525,056
525,056
Net movement in funds
(111,712)
400,007
288,295
Fund balances brought forward at
l April 2023
132,744
3,951
5,266,492
5,403,187
Fund balances carried foTward
31 March 2024
21,032
3,951
5,666,499
5,691,482
All income and the net movement in funds are derived from continuing artivities.
23

Docusign Envelope ID." 245B773A-CA37441 tkA48&22B81 D80853C
Walter Bigg Foundationfor Wallingford School
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Movement in revenue and capital funds for the year ended 31 Marth 2024
Balance
l April 2023
Movement
in funds
Transfer
between funds
Balance
31 March 2024
Unrestricted funds
Unrestricted revenue fund
132,744
(111,712)
21,032
Restrictive funds
The Hedges Chemical Saence Fund
3,951
3,951
Endowment funds
Walter Bigg Trust Property Fund - Capital
Walter Bigg Trust Property Fund - Income
5.266.492
400.007
5,666,499
Total
5.266.492
400,(K)7
5,666,499
Total Charity funds
5,403,187
288,295
5,691,482
Analysis of movement in funds
Income
Expenditure
Other Gains
& Losses
Movement
in funds
Unrestricted funds
Unrestricted revenue fund
221,976
(334.789)
(112,813)
Restrictive funds
The Hedges Chemical Science Fund
Endowment funds
Walter Bigg Trust Property Fund - Capital
(106.154)
115,822
(17,794)
(352,583)
525,056
i25,Oi6
401,108
288,295
24