Charity registration number 311703
TEWKESBURY EDUCATION TRUST FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

TEWKESBURY EDUCATION TRUST FUND
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
K Thompson
C Folkes
P Strlngfellow
J Quinn
S Hawkins
Charity number
311703
Indepéndent examlner
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Chellenham
Gloucestershire
GL519TX
8anker8
HSBC
2 The Promenade
Chellenham
Gloijceslershire
GL50 1LR
Sollcltors
Willans LLP
34 Imperial Square
Chellenham
Gloucestershire
GL50 1QZ
Investment advlsors
8ruton Knowles
Olympus House
Olympus Park
Quedgel8y
Glouceslar
GL2 4NF

TEWKESBURY EDUCATION TRUST FUND
CONTENTS
Page
Trustee report
Independent examinerfs report
Statemenl of financial activities
Statement of financial poslllon
Noles to Ihe flnancial statemènts
8-14

TEWKESBURY EDUCATION TRUST FUND
TRUSTEE REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Tru$lees present Iheir annu81 report and financial slalements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to Ihe
financial stalements and comply with the Trusvs deed. the Charities Act 2011 and 'A￿ount1ng and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January
20191.
Objectives and actlvltl8S
The Trustees manage Ihe assets bélonglng to the Trust. Subjecl to payrnent of expens8S. the annual income from
the assets Is used ta provide benefils lo Tewkesbury School and for educational support for und8r 25's In the
defined area in and around Tewkesbury who may benefit from support.
The Trusle6s shall not apply more than one third of the annual income to proiride benefits for Tewkesbury School
not nomally funded by the D8partmenl for Educalton l Educallon Funding & Skills Agency. Further income Is
dlstribuled to promote educalion and glve financial 6ducalional assistance lo young people in need under Ihe
age of 25 years in the town of Tewkesbury and defined surrounding parlshes. The amounl available depends on
thé level of investment Incom8 earned dufing the year. The amount of money expended on these grants fa118
short of the avallable funds and th8 Trustees conllnue to explore ways of expanding the dislrfbution base.
In selling objectives and planning for aclivilies, the Trustees have given due consideration lo general guldan¢e
publishad by th8 Charity Commisslon relatlng to public benefit, induding the guidance 'Publi¢ benefil.. running a
chadty (PB2>'.
Achlevements and performance
Reviow of actlvitle8
During the year a lolal grant of £5,063 wa5 made lo Tewkesbury School. Thls granl was made up of 8 £2,800
grant lo sludents going to university of £100 each. A grant of £2,263 was also made lo the school lo support
student reading, dlverslly and Incluslon whi¢h went beyond th8 standard curriculum to expand the awareness and
under81anding of sludenls.
Flnancial review
Going concern
After making approprlate enquiries, the TFusle6s have a reasonable expectation Ihal Ihe ChaTIty has adequate
resources lo conlinue in operational existence for the foreseeable future. For this reason, they ￿nIInue to adopt
the going concem basis in preparing the financlal sla16menls.
R8S8IV8s policy
The inveslm6nl strategy is one of low risk and safe investments. Endowmenl funds of £1,022,724 are held for
investment purposes and the gain in the year is in line wllh the maTkel valuation. Restrictad reserves of £85,159
are held and assessed al the year end and distributed according lo Charity needs.

TEWKESBURY EDUCATION TRUST FUND
TRUSTEE REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Matorial investments policy
The Trustées revlewad th8 Inveslmenl portfolio and cL)nduded that the currènl COIF Inv8Stm8nts continu8 to
perform favorably with available alternatives. Investment decisions made in prewous years continue lo remain as
low risk as possible lo prolecl the tharilies assels. whilst also returning a reasonable yield lo service the charities
objectives. The COIF funds are not for a specified period of lime which means the Trustees are not lied into a
fixed investment Period, meaning the inveslm8nl is still fairly liquid.
The current investment portfollo for the 2023-2024 financlal year has produced the following income..
Wayleave income from the Gaslon Fields of £108
and
Income from the COIF Charity Funds
COIF Charity Funds Total annual dividends paid £27,913 for two holdings.
Valuatlons as at 31st Marcth 2024:
A- Valué of investment £173,770 (2023 - £615,602) (32,895.84 incom8 units)
B - Value of investment £16,60812023- £15,211) (812.84 income units)
D -value of inveslmenl £672,14812023- £183,216)1170,512.99 Property units)
Bank account balance £94.319 (2023- £69,916)
Final?￿al risk manag8ment obiec¢ives andpollcl8S
The Trustees have a duly lo identify and review the risks lo which the charity is exposed and to ensure
appropriate controls are in place lo provide reasonable assurance against fraud and error. The Trust Fund was
sel up when the old Grammar School handed over the management of the Trust Fund lo the Govarnors of
Tewkesbury School in 1972. The Tewkesbury School Trust Fund is regulated by a scheme made on 19th June
1975 and amended by schemes made on 4th May 1978 and 3rd February 2020, and further modified lo comply
with Ihe Sex Discrimination Act 1975 under the Tewkesbury School Fund Scheme (Modificallonl Order 1981
(dated 15th January 1981).
Fund accounting
General funds are unrestricted funds which are available for use al the discretion of Ihe Trustees In furtherance of
the general objectives of the Charity and which have not been designated for other purposes.
Designated funds compdse unreslri¢led funds that have been sel aside by the Trustees for partlcular purposès.
The aim and use of eaGh designated fund is sel out In the notes to the financial slalements.
Structure, governance and management
Tewkesbury Edu¢alion Trust Fund Is a reglslered charlty, number 311703, and Is consliluted under a Trust deed.
The Truslees who served during the year and up to the date of signature of the financial slalemenls were:
K Thompson
C Folkes
P Stringfellow
J Quinn
S Hawkins
Mrs Sarah Co18
Mr Richard Machray
Mr Nigel Cottell
Mr Ed Fair
(Resigned I September 2023)
(Resigned 30 June 2023)
(Resigned 31 July 2023)
(Resigned 31 July 2023)
The Trustees meet a minimum of three times per year and adminisler the Charity as set out in the terms of
reference.

TEWKESBURY EDUCATION TRUST FUND
TRUSTEE REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Recruilmenl and appointment of trusl8es
The management of the Charity is the responsibilily of the TTUStees who are elected co-opted under the lemis
of the Trust deed.
On the 21st November 2019 the Chaiily Commission agreed to a change lo the Trustee clause of the Trust
Deed, which allowed governors who dld not want to support th8 Trust lo opt out. They also allowed the Trust to
recruil Iwo non-goveinor trustees each with special skills.
The persons who from time to lime are a minimum of four Govemors for the lime being of Tewkesbury School
acting in accordancè with thair usual procedure shall be the Trustees of Ihe Charity. These should not include the
Headteacher or the Chalr of Govemots of the School. The trustees may elect up lo iwo non Gov8rnor trustees
each wilh re16vanl sklll.
Governors are recruited by Tewkesbury School which has a rigorous recruitmenl policy. The non- goveinor trustees
will be recruited by the Trust body basad on thélr speclfic skills and experience.
In July 2023 Tewkesbury Academy joined the Cabot Learning Federalion (CLF) a Mulli Academy Trust (MAT).
Tewkesbury Academy Trustees changed lo become members of Tewkesbury Councll a new body with a modified
remll. As a result of this CLF requir8d TETF lo becom8 more independenl from the school in terms of
administration, 8ccounling, clerk support, meetlng hosting and th8 make-up of Ils Trustee board. Up until this point
Tewkesbury Academy, as a regular ben&fiaary from the TETF Granl Fund, compleled all adminislralion, banking,
accounts and provided financial support and Insurance cover, as well as hosting meelings and providing clerk
support. These seryices were all provided free of charge and undertaken by an employee of Tewkesbury A¢8demy.
CLF agreed to continue lo providé adminlstratlon and banking support unlil the end of the financial year i.8.31sl
March 2024. From 1 sl April 2024 TETF became independent and responsibl8 for managlng all support servtces on
Ils own behalf. To achieve this TETF recruited and Sppolnled Ils own part lime Treasurar to manage the
adminislralion, book-k88plng and bank account. A delalled $8ledion proc88s was complatad to appolnt new
accounlanls and legal advisers. A new Insur6r was appointed.
The Trustee base reduced from 10 to 5 because ofchanges in the Tewkesbury Ac8demy Trustee membership {now
Council Members), from where TETF Truste8s ar6 Iradilionally drawn. CLF indicated a prefeTence for fewer
Trustees lo be appoinled from Ihe Academy bul recognised that il is speclfically referenced In the Trust Deed Ihal
Trustees would be appolnled from the school. The Deed also allows for bNo 'non-Govemor' Trustees to be
appointed. Currently these appointments have not been filled.
The financial year beginning Apr412024 wlll be the first year the TETF Is operatlng und8r this n8w structure and
processes.
Related party relationships
In the year ended 31 March 2024, 2 grant amounting to £2,263 (2023.. £4,000) was paid to Tewkesbury School
which has common Trustees with Tewkesbury Education Ttust Fund.
The Trustee report Was approved by the Board of Ttusle8S.
P Slringfellow
Trustee
3 October 2024

TEWKESBURY EDUCATION TRUST FUND
STATEMENT OF TRUSTEE RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The Trustées ar6 responsible for preparing the Trustee Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting
Practice).
The law applicable lo ch8rilies in England and Wales requires the Trustees to prepare financial slatemenls for each
rinancial year which give a true and fair view of the state of affairs of the Trusl and of the incoming resources and
application of resources of the Trust for that year.
In preparing these financi81 slalemenls, the Trustees are required lo..
select suilabl6 accounting polides and then apply them consislenlly.,
- observe the melht)ds and principles in the Charitles SORP;
make judgements and eslimale5 that arg reasonable and prudent.
slate wh81her applicabSe accountlng standards have been followed, subject to any materlal departures disdosed
and explained In the financial slatemenls: and
prepare the financlal slatemanls on th8 going concern basis unless111s Inappropriate to presume that the charity
will ¢onlinue in operation.
The Trustees are r6sponsible for keeplng sufficlent accounting records that dlsclose wlth reasonable accuracy at
any lime the financial poslllon of the Trust and enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulallons 2008 and the provisions of the Irusl deed. Th8y
are also responsible for safeguafding the assels of the Trust and hence for taking reasonable steps for the
prevention and deteclDn of fraud and other irregularities.

TEWKESBURY EDUCATION TRUST FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TEWKESBURY EDUCATION TRUST FUND
I report lo the Truste8s on my examination of the financial slalements of Tewkesbury Education Trust Fund (the
Trusl) for the year ended 31 March 2024.
Responslbllities and basis of report
As the Tru51ees of the Trust you are responslble for the preparation of the finanGlal statements In accordance with
the requireménts of the Charities Acl 2011 (the 2011 Act).
I report in respect of my examination of the Tnjst's financial statements carried out under secllon 145 of the 2011
Acl. In carrying oul my examination I have followed 811 the applicable Directions given by the Charity Commission
under section 145(5)(b) of tha 2011 Act.
ndepend8nt examlnerfs statsment
Your atlenlion Is drawn lo the fact th81 Ihe charity has prepared financial slalemenls in accordance with AcGounling
and Reportlng by Charities preparing their accounls in accordance with the Financial Reporting Slandard applicable
In the UK and Republic of Ireland IFRS 102) in preference to the Accounling and Reporting by Charities.. Slalement
of Recommended Practi¢8 Issued on 1 April 2005 whlch is referred to In the exianl regulatlons bul has now been
withdrawn.
l understand that this has been done in order for financial slalemenls lo provlde a Irue and falr vlew Sn accordance
wilh Generally Accepted Accounllng Pracllce effectlve for reportlng perlods beginning on or after l January 2015.
I have completed my examinalion. I confirm that no matters have come lo my allenlion in connecllon wllh the
examinalion glvlng me cause to belleve that in any material respect:
accounling récords were not kept in respect of the Trust as required by section 130 of the 2011 Act,. or
the financial slalements do not accord with those reGords; or
Ihe financial slalements do not comply with the applicable requirements concemlng the fomi and content of
accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any requirement that lh6
aocounls give a Iru8 and fair view which is not a maller considered as part of an independent examination.
I have no Con￿rnS and have come across no other mallers In connectlon with tha examlnallon lo which allenllon
should be draw
s report in order to enable a proper understanding of the financial slalemenls to be reached.
Clnzla Hensley
Association of Chartered Certified A￿OuntantS
BK Plus Limited
6 Manor Park Business Cenlre
Mackenzle Way
Cheltenham
Gloucestershire
GL519TX
Daled: 3 Oclober 2024

TEWKESBURY EDUCATION TRUST FUND
STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Restricted Endowm
funds
funds
2024
2024
Total
Restrlcted Endowm't
funds
funds
2023
2023
Totsl
2024
2023
Notes
Income from:
Charitable actlvilles
28,021
28,021
28,021
28,021
Tolal In¢ome
28,021
28,021
28.021
28,021
Expendltvre on:
Charitable activities
8,536
8,536
11,277
11,277
Total oxpenditure
8,536
8,536
11,277
11,277
Net galns1(losses) on
investments
58,695
58,695
(59,113)
{59,113>
Not In¢omel(expendlture) and
movemont in funds
19,485
58,695
78,180
16,744
(59,113)
{42,369)
Reconclllatlon of funds:
Fund balances al 1 April 2023
65,674
964.029 1,029,703
48,930 1,023,142 1,072,072
Fund balances at 31 March
2024
85,159 1,022,724
1,107,883
85,674
964,029 1,029,703
The slalemenl of financial activities includès all gains and losses iecognised in the year. All income and expenditure
derive from conlinulng activllies.

TEWKESBURY EDUCATION TRUST FUND
STATEMENT OF FINANCIAL POSITION
AS AT31 MARCH 2024
2024
2023
Notes
Flxed assets
Investment property
Invostmenls
160,200
862,525
150,000
814,030
10
1,022,725
964,030
Current assets
Cash al bank and in hand
94,319
69,918
Credltors: amounts falllng dua wlthln
one year
11
{9.161)
(4,243)
Nat current a889ts
85,158
65,673
Total assats le88 current Iloblllt]e8
1.107.883
1,029,703
Net a886ts excluding penslon Ilablllty
1,107,883
1,029,703
The funds of the Trust
Endowment funds
Restricled income funds
12
13
1,022,724
85,159
984.029
85,674
1,107,883
1,029,703
The financlal statemenls were approv8d by the Trustèes on 3 October 2024
P Stringfellow
Tru9teé

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles
1.1 Accounting convention
The financial statements have been prepared In accordance with the Trusvs deed, the Charities Act 2011,
FRS 102 'The Financial Reporting Standard appllcable In the UK and Republic of Irèland. ("FRS 102.) and
the Charilies SORP "Accounting and Reporling by Chaiilies.. 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 1021" (effective 1 January 2019). The Trust is a Public Benefit Entily as defined
by FRS 102,
The Trust has tsken advantage of the provisions in th6 SORP for charities not lo prepare a Slalement of Cash
Flows.
The financtal stalements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo
Ihe exlenl required to provide a true and fair view. Thls departure has involved following the Slalemenl of
Recommend8d Pr8clice for charities applying FRS 102 ralher than tho verslon of the Slalament of
Recommended Practice which is referred lo in the Regulations bul which has since been wlthdrawn,
The financial stalemenls are prepared in sterling, which is the fundional Currency of the Trust. Monelary
amounts in these financial statements are rounded lo the nearest £.
The financial statemènts have been prepared under the historical cost convention, Imodified to include the
revaluation of freehold properties and lo include investment properties and certain finanual instruments al falr
valu81. The principal accolbnling policies adopted are set out below.
1.2 ChaTltsbl8 funds
Rèslricled funds are funds whlch are used in accordance with specific restrictions impos8d by donors or which
have be8n raised by the Charily for particular purposes. The costs of ralsing and admlnlslering such funds are
charged againsl the speciflo fund. The aim and use of each resliicled fund is set out in the notes to the
financial statements,
1.3 Income
Income is recognised when the Trust Is legally entllled to it after any perfomiance conditions hav6 been mel,
the amounts can be measured reliably, and il is probable that income will ba re￿ived.

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcies
IContinued}
The recognition of income from legacies is dependenl on establlshlng enllllemenl, the probabllity of receipt
and the ability lo eslimale wlh sufficienl accuracy the amounl receivable. Evidence of enlitlemenl to a legacy
exists when the Charity has sufficient evidence th81 a gift has been left lo Ihem {Ihrough knowledge of the
8xislenae of a valid will and the death of the benefaclor) and thè executor is satisfied that the property in
question will not be requlred lo satisfy daims In the estate. Receipt of a legacy musl be recognised when il is
probable that il will be recLived and the fair value of the amount receivable. which will generally be the
expected cash amount to be distributed lo Ihe Charity, can be reliably measured.
Where the donated good is a fixed asset. il is measured at fair value. unless it 18 impractical lo measure thi8
rellably, in whlch cas8 the cost of the item lo Ihe donor should be used. The gain is recognised as income
from donations and a coffesponding amount is Included in the appropriale fixed asset dass and depreciated
over the useful economic life in accordance with the Charity's accounting policies.
On receipl, donalad professional seTvices and facllllles are recognised on the basls of the value of the glft to
the Charity which is Ihe amount il would have been willing lo pay lo obtain ServI￿S or facilities of equivalenl
economic benefit on the open market., a correspondlng amount is then recognlsed in expandilure in the period
of receipt.
Income tax recA3verable in relation lo donations received und8r Gift Ald or deeds of covénanl is re¢￿gnised al
the time of the donation.
Income tax Is recoverable in relallon to investment income is recognised at the tlma the Investment income is
receivable.
1.4 Exp8ndltur6
Expendilurè Is r8cogni58d once Ihere Is a legal or constructive obligation lo transfer economic banefil to a
third party, il is piobable that a Iransfer of economlc benefits will be required in selllemenl, and the amount of
the obligation can be measured reliably.
Expendllur& Is classified by acti￿ty. The cosls of each acllvily are made up of lh8 total ol dlrect costs and
shared costs, including support costs Involved in undertaking each aclivily. Direct cosls allributable lo a single
acllvily are allocated directly lo Ihal aelivity. Shared costs which conlribule lo more than one activity and
support costs which are not allribulable to a slngle activily are apportioned betW88n those activities on a basls
consistenl with Ihe use of resources. Central staff cosls are allocated on the basis of time spent, and
depreciation charges are alloc8led on the portion of the asset's use.
Expendllure on charitabl8 activities is Incurred on directly undertaking thè activilies which further the Charily's
obj8cliv68, as well as any 8s$ocvated support costs.
Grants payable are charged in the year when Ihe offer is made except In those cases where the offer is
conditional, Such grants being recognised as expenditure when Ihe conditions attaching are fulfilled. Grant8
offered subject lo conditions which have nol been met in the year end are noted as a commitment, bul not
accrued as expendllure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Investment property
In line with FRS 102, the Gastons fields are held for the purposes of capjlal appreciation and therefore are
classified as investment property. During the year, a revalualion was undertaken in March 2023, on an open
market value.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transacllon price oxcluding transaction costs, and are
subsequently measured al fair value al each reporting date. Changes in fair value are recognised in net
incomel(expendilure) for the year. Transaction costs are expensed as incu￿ed.

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A¢¢ounting policies
(Continued)
1.7 cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-temi Ilquid
investments wllh orlginal maluriti8s of three months or less, and bank overdr8fis. Bank overdrafts are shown
within borrowings in ourrent liabililies.
1.8 Interest rèc8Svabl6
Interest on funds héld on deposlt is included when rece5vable and the amount can be measured reliably by the
Charity, this is normally upon notificalion of the Interest pald or payable by the instllullon with whom the funds
are deposlled.
1.9 Llabllities and provision8
Liabilities are recognised when there Is an obligatlon at the Balance Sheet dale as a result of a pasl event, 11
Is probable that a transfer of economlc benefil will be required in selllemenl, and the amount of the sett16ment
can be estimated reliably.
Liabilities are recognised 8t the amount that the Charlty anticipates il will pay lo sallle the debt or the amounl
It has received as advan¢ad payments for Ihg goods or seNlces It musl provlde.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. whe￿ the
effect of the time value of money is material, the provision is based on the present value of those amounts,
dlscounted al the prÉ-tax dlscount rale Ihal reflects tha rlsks specific lo the liabilily. The unwlnding of the
discounl is recognised in the Slatemenl of Financial Activities as a finance cost.
1.10 Investment propertle8
In line with FRS102, the Gastons 1181ds are held for th8 purposes of capital appreciatlon and therefo￿ are
classified as investment property. During the year, a revaluation was undertaken on the land, on an open
markot value.
Income from charltsble activities
Restrlcted
funds
2024
R8Strlcted
funds
2023
Restrlcted funds
Incom8 from Inveslmenls
28.021
28.021
10-

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Exp&ndlture on charitable activitles
Restricted
funds
2024
Regtrfct&d
funds
2023
Dlrect costs
Grant funding of aclivities {s8e no18 4)
5,063
8,100
Share of supportand govemanca costs (see note S)
Support
3,473
3,177
8,536
11,277
Analy8ls by fund
Restricted fund8
8,536
11,277
Grants payable
Re8trlctsd
fund8
2024
R08tri¢tsd
funds
2023
Grants lo instllutions..
Tewkesbury Academy
2.263
4,000
Grants lo individuals
2,800
4,100
5,063
8,100
Support CO8ts allocatsd to actlvltl88
2024
2023
Prop8rty & land maintenance
Bank charges
Insurance
Governancè costs
914
63
96
2,400
3,110
67
3,473
3,177
Analysed between:
Support costs
3,473
3,177
Trustees
During the year, no TTuslees received any remuneration or other benefits {2023= £NilJ.
During Ihe year ended 31 March 2024, no Trustee expenses have been incurred (2023.. £Nil).
11

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Gains and losses on Inve8tments
Endowment Endowment
funds
2024
funds
2023
Gainsl(losses) arislng on..
Revaluation of investments
Revaluation of Investment properties
48,495
10,200
(59,113)
58,695
(59,113)
Taxation
The charlly Is exempt from taxatlon on its activities ber2use all ils Income is applied for chaiilable purposes.
Inve8tmant proparty
2024
Falr value
At 1 April 2023
Nel gains or losses through fair value adjustments
150,000
10,200
At 31 March 2024
160,200
10 Flxed asset Investmehts
Unlistsd
Invtt6tments
Cost or valuatlon
At 1 April 2023
Valuation changes
814,030
48.495
Al 31 March 2024
862.525
Carrying amount
Al 31 March 2024
862,525
Al 31 March 2023
814,030
12-

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Credltors: amounts falllng due wlthin one year
2024
2023
Amounls owed to f811ow group undertakings
Accruals and defèrred incom8
2,078
7,083
2,078
2,165
9,161
4,243
12 Endowment funds
Endowment funds r8pres8nl assets whlch mu81 be held permanently by the Trust. Income arising on the
endowment funds can be used In accordance with the obj8Cts of the Trust and is Included as unrestricted
Income. Any capital gains or losses arlslng on the assets form part of the fund.
At 1 Aprll
2023
Galn8 and At 31 March
108se8
2024
P6rmanent endowmont8
4,029
58,695
1,022,724
Pravlous year:
At 1 April
2022
Gains and At 31 March
losses
2023
Pemianent andowments
1.023,142
(59,113)
964,029
13 Restrlcted funds
The restricted funds of the charily comprise Ihe unexpended balances of donations and grants held on trust
subject lo specific conditions by donors as lo how they may be used.
At 1 Aprll
2023
Incomlng
resources
Resources At 31 MarGh
expended
2024
R6strl¢tad funds
65,674
28,021
(8,5361
85,159
Prevlous year:
At 1 Aprll
2022
Incoming
resources
Resources At 31 March
expended
2023
Restricted funds
48,930
28.021
(11,27n
65,674
13-

TEWKESBURY EDUCATION TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Analysis of net assets between funds
Rastrlcted Endowment
funds
funds
2024
2024
Total
2024
At 31 March 2024..
Investment propertie5
Investments
Current asset81(Ilabillties)
160.200
862,525
(1)
160,200
862,525
85,158
85,159
85,159
1,022,724
1,107,883
Restrl¢ted Endowm8nt
fund8
funds
2023
2023
Totsl
2023
At 31 March 2023:
Investment properties
Inveslmenls
Current ass8lsl(liabillliesl
150,000
814,030
150,000
814,030
65,673
65,673
65,673
964,030
1,029,703
14-