Charity No. 310815 CHELMSFORD EDUCATIONAL FOUNDATION TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 SPENCER FELLOWS & CO Chartered Accountants 169 New London Road Chelmsford CM2 OAE
CHELMSFORD EDUCATIONAL FOUNDATION TRUSTEES, REPORT YEAR ENDED 31 December 2024 The Chelmsford Educats"onal Foundation Icharity Re8iStration No 3108151 was oriBlnally fun(led from the proedS of the Sale of the 8ritish School (latterly the Frlars, School) and 15 governed by a scheme established by the Char5ty Commlssioners in 1968 as slnce amended, most recently in 1995 (the scheme). The Foundation's officlal addiess is 19 Rushleydale, Chelmsford, Essex. CMI 6JX. The Secretary of the Foundation Is Mr R Emsden. The Foundatlon's objects are detsiled in the scheme and may be summarlsed as being to apply the net yearly income of the Foundatton in the promotion of education withln the 8eographical area prescrlbed by the scheme,. Including particularly to provide at any sch¢xil beneflt which Is not provided from publlc monles; to promote by means of grants the education of persons resldent In or who have been pupils at a school or sixlh form college In the said area who In the Tru5tees' oplnlon are in need of financial assistance,. and to make giants to chaiit3ble 018anlsations In the said area, the objects of whl¢h include promotion of education of persons In need of hnancial assistance. The area of beneflt Is the formér Chelmsford Munlclpal 8orough and Chelmsford Ruial Distrirt ènd the civll parishes of Ingatestone, Fryernlng and Mountnessin8. The Trustees, capital Is an endowment to be Invested to produce fre income, thereby allowln8 payments of 8rant to be malntained ift al terms In future years. The accounts also Sdèntify aecumulated Income which Is requlred toen5ure an adequate cashflow to fund Brant payments and 8eneral expendlture pending receipt of further income from the endowmert CEF hold5 sufficient reservestocover the budgefrd paymentsthroughout the forthcomin8year. Thè8fants bud8etfortheyear Is made wlth reference to the reserves held and anticipated investment Income. Investment income is recelved quarterly and as such reserves are revtewed to ensure there are always sufficient funds to cover payments. The reserves are revlewed annualty and at 31 December 2024 the charlty had £66,116 In unrestrScted funds and £1,096,979 In Its endowment fund. The Trustees achieve the oblects of the Foundation by meeting three times in the year, to rèvlew pollcles. In¢ludin8 the re¢rultment and tralnlng of new tru5tee5, and to consider appllcations tor and to authorise Èrants in one or more of the said cate8orles. The trustees consider the guidance on publlc benefit issued by the Charlty Commission when agieein8 or decllnin8 each grant during tru5tees' meetln8s. DurlnB the year grants totallin8 £20,500 were awarded to 14 personal appllcants. Pursuant to the Statement of Recommended Practice.. Accountln8 and Reportlng by Charitie5. publlshed in March 2005, the Foundatlon has elected to prepare only a recelpts and payments account and a statement of assets and liabllitie5. Names of Trustees,, Mrs Jackle Arnot Mrs janet Chaplin Mr Paul Church Mr5 Pamela Fltch Cllr Mlke MackTOry (Essex County Counclll from 23105124 Cllr Julla FTa5cona (Chelmsford Clty Countill Mr Peter Vicary to 24106124 Mr John Burrow MrsGwen Hudson Mr Peter S jackson Cllr Sue Young (Chelmsford aty Counclll Mr Graham Seelev Mrs Liz Ahmed Signed Peter Jackson (Chairman) Date.. 28 April 2025
INDEPENDENT EXAMINEWS REPORT TO THE TRUSTEES OF CHELMSFORD EDUCATIONAL FOUNDATION I report on the accounts of the charity (registered number 310815) forthe year ended 31 December 2024 which are Set out on pages 3 to 5. Res ective res onsibilities of trustees and examiner The charlty's trustees are responsible for the preparatlon of the accounts. The charity'5 trustees conslder that an audit is not required for this year under section 14412) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the Beneral directions given by the Charity Commission under sertlon 14515llbl of the 2011 Act,. and state whether partl¢ular matter5 have come to my attentlon. Is of Snde end nt examlner's r ort My examination was carried out in accordance with the general dlrections 8lven by the Charlty Commlsslon. An examlnation Includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideratlon of any unusual items or disclosures in the accounts, and seekin8 explanations from you as trustees concernin8 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no oplnion is glven as to whether the accounts present a "true and fair vlevf and the report is limited to those m4tters set out in the statement below. endent ex mlner's temen In connectlon with my examlnation. no matter has come to my attention.. which 8ives me reasonable cause to believe that. in any materlal respert. the requlrements: to keep accounting record5 In accordance with section 130 of the 2011 Act,, and to prepare accounts which accord with the accounting record5 and comply with the accounting requirements of the 2011 Act have not been met; or reached. to which, in my opinion, attention should be drawn in order to enable a proper understandin8 of the accounts to be R.J. Harman FCA For and on behall of Spencer Fellows & Co Chartered Accountants 169 New London Road Chelmsford Essex CM2 OAE Date.. 29 April 2025
CHELMSFORD EDUCATIONAL FOUNDATION RECEIPTS AND PAYMENTS Accoumf FOR THE YEAR ENDED 31" DECEMBER 2024 Unrestrirted Restricted Endowment fund fund fund TOTAL 2024 2023 ReIPtS Investment i ncome I nterest received 29.840 ' 2.612 150 29.840 29,406 1.963 2,612 Other income 150 Total reipts 32.602 32,602 31,369 Payments Grants 20.500 3,310 300 22,140 3,012 300 Secretary's fee Accounta ncy fee Secretsry'5 expense5 a nd ststionery Secreta ry office a Ilowance Use of premises I nsurance 3.310 300 49, 49 39 240 240 240 560 560 520 244 244 195 Bank charges . Dats protectlon fee 'Other expenses 60 60 38 35 35 35 162 Total payments 25,298 25,298 26,681 . Net of recelpts/(paymentsl 7,304 7,304 4,688 Cash funds at 1st Januarv 58,812 58,812 54,124 ',Cash funds at 31st December 66,116 66,116 58,812
CHELMSFORD EDUCATIONAL FOUNDATION STATEMETrtr OF ASSETS AND LIABIUTIES AS AT 31" DECEMBER 2024 Note 2024 20231 Cash funds Nat West plc Current account Nat West plc Deposit account CAF Bank Current account CAF Bank Deposit account COIF Depositaccount 500 735 1,323 1,007 64,374 1 52,534 Total cash balances 66,116 58,812 Investment assets Investments at market value 1,096,979 1,072,674 Total assets 1,163,095 1,131,486 Funds Accumulated Income fund Endowment fund 66,116 1.096,979 58,812 1,072,674 Total funds 1.163.095 1.131.486 Approved by the trustees on 28 April 2025 and si8ned on their behalf by: Trustee IChalrman} Peter Jackson Trustee Paul Church
CHELMSFORD EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31" DECEMBER 2024 NOTE l- Investments and income Holdlng at 01.01.24 Cost Holdingat 31.12.Z4 Income Unlts Market Value Cost Cost Mark•t Value Total Unlt Total Unlt Total Unlt Total Unlt 2024 2023 COIF Charlty Funds Investment fvnd Short duratlon bond fund• 633,844 1,233 1.063,594 1,985 633.844 1.233 1,087,621 2.029 29.606 29.199 53,595.06 10,000 131 9,080 122 10,000 131 9,358 126 234 208 7,423.35 Total 643,844 1,072.674 643.844 1,096.979 29.840 29,407 * formerly Fixed Interestfund NOTE 2- Grant5 pald in the year ended 31 December 2024 A total of 14 8rants were made totalling £20,500, an average of £1,464. Individual grant5 awarded were between £700 and £2,500. One cheque valued at £1,000 for a grant awarded last year was cancelled. NOTE 3 - Analysis of net assets between fund5 Unrestrlrted Restrirted Endowment funds fund5 funds Total. .Cash balances 66,116 66,116 1,096,979 ' Investments 1,096,979 'Total 66,116 1,096,979 1,163,095