REGISTERED CHARITY NUMBER: 309766
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Report of the Independent Auditors | 6 to 8 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Notes to the Financial Statements | 11 to 17 |
| Detailed Statement of Financial Activities | 18 |
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report with financial statements for the year ended 31 December 2024.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main income of the Foundation is derived from the Investment Assets. The income from the Investment Assets is applied by the Trustees in accordance with Section 32 of the 1986 Scheme, namely:
a) Subject to payment of expenses of management and any superannuation payments in making payments to the Governors for the time being of All Saints CEVA Primary School to be applied by them in discharging their obligations under the Education Acts with respect to the maintenance of the school.
b) Subject thereto in any or all of the following ways:
i. Payments to the Governors of any voluntary Church of England School substantially serving the former Borough of Northampton to be applied in discharging their obligations under the Education Acts with respect to the maintenance of the School concerned.
ii. The provision of such special benefits of any kind not normally provided by the local education authority for All Saints CEVA Primary School or any other voluntary Church of England School substantially serving the former Borough of Northampton as may from time to time be agreed between the Foundation Trustees and the Governors of the School concerned after consultation with the authority.
iii. Promoting the education (including social and physical training) of persons under the age of 25 years who are in need of financial assistance and who are attending All Saints CEVA Primary School or have attended that School for not less than two years or who are resident in the former Borough and subject thereto, persons under the age of 25 years who are in need of financial assistance and who are attending schools or full time courses of education, to include Northampton University, within the former Borough of Northampton. In addition, the Trustees are able to award grants for further education and university courses beyond the former Borough of Northampton where appropriate for locally resident students, subject to the full provisions of the 1986 scheme.
Public benefit
The Governors confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Scheme's aims and objectives and in setting the grant making policy for the year.
Page 1
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Review of developments and achievements
The Governors continue to build up a property repairs reserve to cover the future cost of repairs and maintenance and to finance should any further refurbishment projects that become feasible from within the B & S portfolio.
The property portfolio was fully let and income producing during the year. Grants of £35,756 were paid out during the year. An additional grant of £25,000 was made to the Lowdown in 2025, the tenants of the Old School Building in Kingswell Street, to assist them fund some costs overrun on the building refurbishment after the year end, which have now been successfully completed. The refurbishment works have substantially improved the building, which can now cater for the increased demand from young people for consultations and meetings, as well as making the building far more suitable as a work environment.
The rental income from the residential element of the property portfolio continues to increase further, whilst the commercial rents generally remain static. The proposed changes to legislation relating to rental properties is being reviewed and action will be taken during 2025 to minimise any resultant risks.
The policy of maintaining those properties in good order for which the Governors are responsible, predominantly the residential units, continues with repairs and maintenance totalling £49,399 undertaken during the year.
Messrs Eddisons continue to manage the commercial property within the portfolio, with Greener Rentals continuing to manage the residential properties.
The Governors have continued to use the services of Messrs HCR Hewitsons, Solicitors, for our legal and administration services and are grateful to them for all the work they undertake on the Governors' behalf.
The Governors continue to take their responsibilities for this distinguished Foundation seriously, founded nearly 300 years ago, and believe that their actions over the past year have further enhanced Becketts & Sargeants' reputation for sound governance within the former Borough of Northampton, which it serves.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to hold the property and CAF Gold account to generate (taking one year with another) sufficient income to continue current levels of grant making in real terms. A balance is held in liquid funds to cover management expenditure as and when it arises.
At the 31 December 2024, the amount of the liquid reserves in the unrestricted fund amounted to £245,118 (2023: £148,295). Total expenses for the year were £182,638 and so the amount held is more than adequate to meet the needs of the charity.
The results for the year are set out within the SOFA.
General unrestricted reserves amounted to £3,885,506 at 31 December 2024 (2023: £3,784,182).
Page 2
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Objects, organisation, policies and changes
Following the passing of the Governors' resolutions of 23 March 2023, the Charity Commission informed the Governors that it had decided to record the governing document of the Foundation on the Register of Charities as: "the Scheme dated 27 November 1986, as amended (by an Order) on 6 September 2004, as amended (by a Scheme) on 6 July 2011, as amended (by a Scheme) on 15 February 2023, and as amended (by Resolutions) on 23 March 2023".
The body of Trustees consists of one ex-officio Trustee, three Nominative Trustees and eight Co-optative Trustees, as listed on page 4 of this report.
The terms of appointment, as laid out in the Charity's scheme, are as follows:
Ex officio Trustee - shall be the Rector for the time being of the Ecclesiastical Parish of All Saints together with St. Katherine and St. Peter, Northampton.
Nominative Trustees - two appointed by West Northants Council, as local education authority and one by the Peterborough Diocesan Board of Education. Those appointed by the West Northants Council hold office for a term ending on the date of appointment of their successors, whilst those appointed by the Peterborough Diocesan Board of Education are appointed for a term of four years.
Co-optative Trustees - appointed for a term of five years by resolution of the Trustees passed at a special meeting.
The capital of the Foundation includes various Freehold Properties. These properties comprise Investment Properties, together with the following Freehold Properties which are fixed assets for the purposes of these financial statements:
The Old School Building, Kingswell Street, Northampton All Saints CEVA Primary School, Kingsthorpe, Northampton
Induction and training of new trustees
The Governors seek advice from their professional advisers relevant to their functions.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
309766
Principal address
c/o Mrs Angela Moon, HCR Hewitsons Lancaster House Nunn Mills Road Northampton Northamptonshire NN1 5GE
Page 3
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Co-optative Trustees (appointed for a term of five years) David Smith (Chairman) - appointed 12 December 2010, re-elected 10 December 2020 Hilary Spenceley - appointed 13 April 2008, re-elected 5 October 2023 Andrew Cowling - appointed 9 June 2011, re-elected 13 June 2016, re-elected 24 June 2021 Richard Ormston (Archdeacon) - appointed 2 October 2014, re-elected 18 June 2020 David Lett - appointed 8 October 2015, re-elected 01 October 2020 Jane Birch - appointed 9 December 2017, re-elected December 2021 Ian James - appointed 9 December 2019, re-elected December 2021 John Morris - appointed 7 October 2021
Nominative Trustees Susan Lamb - appointed 21 March 2019, reappointed 22 January 2023 Brian Sargeant - appointed 9 December 2021, resigned May 2025 Janice Duffy - appointed 23 June 2022, resigned May 2025 Ex-officio Trustee Oliver Coss - appointed 7 September 2016 Members of the Grants sub-committee Richard Ormston Susan Lamb Janice Duffy John Morris Members of the Schools sub-committee Oliver Coss Jane Birch Brian Sargeant Members of the Finance & Property sub-committee Andrew Cowling David Lett Ian James Hilary Spenceley John Morris
Auditors
Shaw Gibbs (Audit) Limited, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
Solicitors
HCR Hewitsons LLP Lancaster House Nunn Mills Road Northampton NN1 5GE
Page 4
BECKETT'S & SARGEANfs EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Property Advisers Eddisons, incorporating Budworth Hardcastle 4 Waterside Way The Lakes Northampton NN4 7XD Residential Property Managers Greener Rentals & Property Management 9 Westleigh Office Park Moulton Park Northampton NN3 68W Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including Ihe income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., obsetve the methods and principles in the Charity SORP; make judgements and eslimates Ihal are reasonable and prudent., 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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial ststements 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 prevenlion and detection of fraud and olher irregularities. Approved by order of the board of trustees on and signed on its behalf by: JS David Smith (Chairman) - Trustee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
Opinion
We have audited the financial statements of Beckett's & Sargeant's Educational Foundation (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, United Kingdom Generally Accepted Accounting Practice and relevant Taxation legislation.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the understatement of income. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing meeting minutes, regulatory correspondence and professional fees, and detailed substantive testing on the completeness of income.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
Use of our report
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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Shaw Gibbs (Audit) Limited, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
Date: 15 October 2025
Page 8
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 Other income Total EXPENDITURE ON Raising funds 3 Charitable activities 4 Grants paid to individuals Grants paid to institutions Management costs Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted funds £ 283,962 - 283,962 120,968 34,100 1,656 25,914 182,638 101,324 3,784,182 3,885,506 |
2023 Total funds £ 267,869 120 267,989 100,008 38,000 6,944 32,163 177,115 90,874 3,693,308 3,784,182 |
|---|---|---|
The notes form part of these financial statements
Page 9
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 Unrestricted funds 2023 Total funds Notes FIXED ASSETS Tangible assets Investment property 182,919 3,505,272 190,830 3,505,272 10 3,688,191 3,696,102 CURRENT ASSETS Debtors Cash at bank 11 3,728 245,118 4,324 148,295 248,846 152,619 CREDITORS Amounts falling due within one year 12 (51,531) (64,5391 NET CURRENT ASSETS 197,315 88,080 TOTAL ASSETS LESS CURRENT LIABILITIES 3,885,506 3,784,182 NET ASSETS 3,885,506 3,784,182 FUNDS Unrestricted funds: General fund 13 3,885,506 3,784,182 TOTAL FUNDS 3,885,506 3,784,182 The financial st tements were approved by the Board of Trustees and authorised for issue on s- and were signed on its behalf by: David Smtth (Chairmanj - Trustee A Cowling - Trustee The notes form part of these financial ststements Page 10
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Beckett's and Sargeant's Educational Foundation is an unincorporated charity, registered in England and Wales. The charity's number and registered office address can be found on the Company Information page.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants are charged in the financial statements when paid. Some grants are awarded for disbursement of the funds in a subsequent accounting period.
Raising funds
Costs of generating funds comprises those costs directly attributable to managing the investment portfolio and raising investment income.
Charitable expenditure
Charitable expenditure represents the direct costs, grants and depreciation incurred for the furtherance of the charity's objectives as stated in the annual report. Expenditure is shown gross, inclusive of unrecoverable VAT.
Governance costs
Governance costs represent the costs of the Clerk's time attributable to Trustees' meetings and the cost of accountancy services.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Assets costing more than £1,000 are capitalised.
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.
Page 11
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
Listed investments
Listed investments are valued at fair value at the year end. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of financial activities.
Investment Property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of financial activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
General funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are those which have been set aside out of unrestricted funds by the Trustees for specific purposes.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities.
Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.
2. INVESTMENT INCOME
| Rents received Water, electricity and insurance income Interest receivable |
2024 £ 256,871 23,205 3,886 283,962 |
2023 £ 244,154 22,769 946 267,869 |
|---|---|---|
Page 12
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| Clerk's fees Professional fees re properties Rent collection fees Property repairs Rates, water and insurance Bad debts Depreciation |
2024 £ 1,798 28,659 16,840 49,399 16,361 - 7,911 120,968 |
2023 £ 1,733 23,091 14,562 7,771 33,701 11,239 7,911 |
| 100,008 |
4. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities Support (see note costs (see 5) note 6) £ £ Grants paid to individuals 34,100 - Grants paid to institutions 1,656 - Management costs - 25,914 35,756 25,914 5. GRANTS PAYABLE 2024 £ Grants paid to individuals 34,100 Grants paid to institutions 1,656 35,756 The total grants paid to institutions during the year was as follows: 2024 £ All Saints CEVA Primary School 1,656 St Luke's CEVA Primary School - 1,656 |
Totals £ 34,100 1,656 25,914 |
Totals £ 34,100 1,656 25,914 |
|---|---|---|
| 61,670 | ||
| 2023 £ 38,000 6,944 |
||
| 44,944 | ||
| 2023 £ 4,944 2,000 |
||
| 6,944 |
All grants paid to institutions were for educational purposes and accord with the Charity's Scheme
The total grants paid to individuals during the year was as follows:
| Grants for educational purposes | 2024 £ 34,100 |
2023 £ 38,000 |
|---|---|---|
The total number of grants awarded to individuals during the year was 77 (2023: 99) All grants made were for educational purposes and accord with the Charity's Scheme.
Page 13
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. SUPPORT COSTS
| Management £ Management costs 8,988 Support costs, included in the above, are as follows: Clerk's administration fees Sundries Clerk's governance fees Auditors' remuneration Interest payable and similar charges |
Governance Other costs £ £ 314 16,612 2024 Management costs £ 8,988 314 7,190 9,270 152 25,914 |
Totals £ 25,914 2023 Total activities £ 8,667 - 14,309 9,000 187 32,163 |
|---|---|---|
Support costs, included in the above, are as follows:
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
All funds in 2023 relate to unrestricted funds.
9. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 and 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Freehold property £ 395,535 204,705 7,911 212,616 182,919 190,830 |
|---|---|
Page 14
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 Fair value at 31 December 2024 is represented by: Valuation in 2011 Valuation in 2017 Valuation in 2022 Cost |
£ 3,505,272 3,505,272 3,505,272 £ 1,431,866 549,548 (113,460) 1,637,318 3,505,272 |
|---|---|
Investment properties were professionally valued as at 31 December 2021 by Eddisons Property Consultants. The Trustees consider that the fair value of the properties has not changed since this valuation, except for the improvement works, and is materially correct as at the year end.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Rental income owing Prepayments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income |
2024 £ - 3,728 3,728 2024 £ 1,289 50,242 51,531 |
2023 £ 1,130 3,194 4,324 2023 £ 6,236 58,303 64,539 |
|---|---|---|
Deferred income at the year end of £39,744 (2023: £37,227) relates to rental income received in advance for the first quarter of the next financial year. All income deferred at the end of the previous financial year was released in the current year.
Page 15
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. MOVEMENT IN FUNDS
| At 1/1/24 £ Unrestricted funds General fund 3,784,182 TOTAL FUNDS 3,784,182 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 283,962 TOTAL FUNDS 283,962 Comparatives for movement in funds At 1/1/23 £ Unrestricted funds General fund 3,693,308 TOTAL FUNDS 3,693,308 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 267,989 TOTAL FUNDS 267,989 |
Net movement in funds £ 101,324 101,324 Resources expended £ (182,638) (182,638) Net movement in funds £ 90,874 90,874 Resources expended £ (177,115) (177,115) |
At 31/12/24 £ 3,885,506 3,885,506 Movement in funds £ 101,324 101,324 At 31/12/23 £ 3,784,182 3,784,182 Movement in funds £ 90,874 90,874 |
|
|---|---|---|---|
Page 16
continued...
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024 or for the year ended 31 December 2023.
15. OPERATING LEASES - LESSOR
Minimum lease receipts under non-cancellable operating leases fall due as follows:
| Within one year Between on and five years In more than five years |
2024 £ 148,639 260,815 - 409,454 |
2023 £ 178,324 367,137 8,000 553,461 |
|---|---|---|
Page 17