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2025-03-31-accounts

STRODE’S FOUNDATION REGISTERED CHARITY 312026

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS

FOR YEAR ENDED 31 MARCH 2025

STRODE’S FOUNDATION

INDEX

FOR THE YEAR ENDED 31 MARCH 2025

Page
Trustees’ Annual Report and Accounts 1
Statement of Financial Activities 5
Balance Sheet 7
Notes to the Accounts 8
Independent Examiner’s Report 14

STRODE’S FOUNDATION

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES

The following acted as Trustees during the year under review as below (their dates for possible re-appointment are included in brackets):

Mr V M Bairstow MBE Nominated Trustee of the Coopers’ Company (Chairman from 21 February 2019) (1 July 2026) Mrs V Cresswell (2 March 2030) Mr C I H Cross Nominated Trustee of the Coopers’ Company (1 July 2029) Mr F G Curry (30 October 2027) Mr S I Hatherall (2 November 2026) Mr N D Jamison (30 October 2027) Cllr C Mann Nominated Trustee of Runnymede Borough Council ( 20 June 2028) (Appointed 20 June 2024) Prof R Mock Nominated Trustee of Royal Holloway and Bedford New College (10 October 2027) Cllr S C Williams Nominated Trustee of Runnymede Borough Council - (Resigned 7 May 2024 )

The body of Trustees at the year-end consisted of eight persons of whom two were nominated by The Worshipful Company of Coopers and one by The Council of Royal Holloway and Bedford New College.

All Trustees are obliged to be appointed and nominated, in accordance with Charity Commission guidance.

All the Trustees act on a voluntary basis. The Foundation has entered into a contract with Sunningdales, Chartered Surveyors, the professional firm of a Trustee, Mr Cross, regarding all property matters affecting Strode’s College, the Boathouse and the Land at Staines. In addition, there is a contract with Three Kings Accounting Limited, a company of which Mrs Cresswell is director and majority shareholder, for the Foundation’s accounting. Both of the above contracts were approved by Trustees on 13 June 2019.

In addition, the Foundation has continued to employ a firm of solicitors on an ad hoc basis, being Horne Engall & Freeman LLP, the professional firm of a Trustee, Mr Jamison.

The addresses of the Officers during the year were:

Clerk: Mr F G Curry Treasurer: Mrs V Cresswell 11 St. Mary’s Gardens c/o Three Kings Accounting Limited Bagshot Suite 3, Dukes House Surrey GU19 5JA 4-6 High Street Windsor Berkshire SL4 1LD

The place of business of the Foundation is c/o Horne, Engall & Freeman LLP, 47a High Street, Egham, Surrey, TW20 9ES.

1

STRODE’S FOUNDATION

TRUSTEES’ ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Strode’s Foundation arose from the will of Henry Strode who, in 1704, left £6,000 inter alia to provide and maintain a school for poor children of Egham in Surrey. A number of variations to the original will, by way of Schemes, have been applied over the years under various Charity and Education Acts. Strode’s Foundation is a registered charity (No 312026).

On 28 April 2017, a new Scheme was sealed by the Charity Commission which recognised the takeover by East Berkshire College, later The Windsor Forest Colleges Group (‘TWFCG’), of the business of Strode’s College Corporation, which latter was dissolved on 3 May 2017. This Scheme changed the object of the Foundation as below.

In addition to recognising the provisions of the new Scheme, Trustees have been aware of the continual need to be conversant with charity practice and governance, and all Trustees have been encouraged to attend relevant seminars.

OBJECT AND ACTIVITIES

The object of the above Scheme is to advance the education of students of the former Strode’s Sixth Form College property in Egham, Surrey, referred to herein as Strode’s campus, and also, of young persons resident in the area of the former Egham Urban District by such means as the Trustees think fit.

In carrying out their activities, the Trustees have regard to the Charity Commission guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

The Foundation concluded a 25 year lease dated 3 May 2017 for the use of the Strode’s campus with TWFCG with effect from 9 May 2017.

At the same time, an Operating Agreement dated 3 May 2017 was entered into between the Foundation and TWFCG which set a modus operandi as between the Foundation and TWFCG and various goals inter alia for the academic development by TWFCG of the Strode’s campus which continues to be monitored for compliance by Trustees.

The Trustees have agreed to sell the other investment property comprising the Land at Staines, not forming part of the Foundation's Endowment, with income arising from sale proceeds being available to be spent on the Foundation's charitable object (subject to legal clarification). Sale completion has taken place following the year-end and prior to the date of this report.

The Trustees continue to explore a disposal of the Boathouse, as TWFCG on behalf of Strode's campus has confirmed its decision not to provide rowing as part of the curriculum (as documented by a Deed Of Variation entered into by TWFCG and the Foundation). A sale would be subject to the Foundation fulfilling the detailed requirements set out in the CC28 Guidance Note (last updated 7 March 2024) with the proceeds of sale being added to the endowment and the income therefrom available to be spent on the Foundation's charitable object.

Property management costs are higher in the current year as a result of increased activity described in the two paragraphs above.

Grants

In accordance with the above scheme objectives, the Foundation has made grants in the year out of available net income to TWFCG in respect of Strode’s campus and also to The Magna Carta School. In addition, several smaller grants were paid during as detailed below in furtherance of the Foundation’s object.

2

STRODE’S FOUNDATION

TRUSTEES’ ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Strode's Foundation - grants to schools etc.

St. Ann's Heath junior school
Hythe Community Primary School
St. Jude's, C of E Junior School
Thorpe Cof E Primary School
Manorcroft Primary School
St. Cuthbert's catholic primary school
Egham Band - Youth Project
The Egham Museum Trust
Surrey History Centre		 2025
£

6,852
2,598
5,000
1,408
7,012

22,870		 2024
£
6,941
2,311
2,000
2,000
13,252

The Trustees would be very grateful to receive charitable gifts so as to enhance the work of the Foundation.

Financial Review

The Foundation received income of £114,857 (2024; £103,079) from its investments during the year and made grants and disbursements totalling £85,817 (2024; £120,824). Investment management costs were £44,758 (2024; £5,663). Other costs amounted to £14,813 (2024; £23,106). Realised and unrealised gains and losses on investments amounted to net gains of £355,154 (2024; £131,232 gain). The result of the above is a net decrease during the year of £24,494 in Unrestricted General Funds (2024; net decrease of £46,716) and a net increase in Endowments and Bequests etc. of £349,117 (2024; net increase of £131,434).

At the year end, the Foundation held Unrestricted Funds of £175,465 (2024; £199,959) and Endowments and Bequests etc. of £2,211,471 (2024; £1,862,354), held mainly in the investment portfolio of £1,606,339 (2024; £1,613,305).

On 24 July 1996, the Trustees obtained a guidance report on market values of properties from Frazers Professional Services (Chartered Surveyors). The values reported have been included in the accounts at 31 March 2025, both for property used for direct charitable purposes and investment property. The Trustees consider that there is no merit at this stage in commissioning a formal revaluation of the Foundation’s residual properties in view of the considerable costs involved. The Trustees continue to review any possibility for the development of the Foundation's land at the Boathouse, but following the year end, marketing of the Wheatsheaf Lane, Staines land commenced after legal advice from the Foundation's solicitors, including updating the Land Registry title and the preparation of a title pack to assist the marketing. Sale completion took place on 29 August 2025 for a consideration of £375,000.

RESERVES POLICY

The Trustees’ policy is to hold liquid reserves of at least 50% of annual income, so as to be able to meet anticipated shortterm expenditure needs.

Blackrock manages the Fixed Interest holding through the BlackRock Charities UK Bond Fund (formerly The Charinco Fund). This Fund aims to produce a relatively high income yield, whilst providing a degree of capital security.

TRUSTEES’ RESPONSIBILITES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice.)

The laws applicable to charities in England & Wales require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that period. In preparing these financial statements, the Trustees are required to:

3

STRODE’S FOUNDATION

TRUSTEES’ ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Foundation Scheme. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RELEVANT ORGANISATIONS

Accountants: Three Kings Accounting Limited, Suite 3 Dukes House, 4-6 High Street, Windsor, Berkshire SL4 1LD Bankers: Barclays Bank plc, Staines Group, 71 High Street, Staines, Middlesex, TW18 4PS Independent Examiner: Andrew Beet FCA, Kirk Rice LLP, The Court Yard, High Street, Ascot, Berkshire SL5 7HP Investment Managers: Brewin Dolphin Limited, 12 Smithfield Street, London, EC1A 9BD BlackRock Fund Managers Limited, PO Box 9036, Chelmsford, Essex, CM99 2XD CCLA COIF, Senator House, 85 Queen Victoria Street, London EC4V 4ET Solicitors: Horne Engall & Freeman LLP, 47a High Street, Egham, Surrey, TW20 9ES Winckworth Sherwood LLP, Minerva House, 5 Montague Close, London, SE1 9BB Surveyors: Sunningdales, 83 Gainsborough Drive, Ascot, Berkshire, SL5 8TA Kempton Carr Croft, Chatsworth House, 29 Broadway, Maidenhead, Berksire SL6 1LY Treasurer: Mrs V Cresswell, Three Kings Accounting Limited, Suite 3 Dukes House, 4-6 High Street, Windsor, Berkshire SL4 1LD Signed:

V.M. Bairstow

~~…………………………………~~ V.M. Bairstow (Jan 15, 2026 15:03:54 GMT) …… V M Bairstow Chairman of Trustees

15 January 2026

4

STRODE’S FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Restricted
Unrestricted Restricted Funds – Total Unrestricted Restricted Restricted Funds Total
General Funds Funds - Bequests etc Endowments 2025 General Funds Funds - Bequests etc – Endowments 2024
£ £ £ £ £ £ £ £
INCOME
Investments:-
Investment income 62,596 227 - 62,823 34,799 91 - 34,890
Deposit interest 6,018 - - 6,018 18,049 - - 18,049
Rentals from property 46,016 - - 46,016 46,140 - - 46,140
Donations and sundry asset sales - - - - - 4,000 - 4,000
-------------------- ------------------------- ------------------------------------------------ ------------------------------------------------- ------------------------------------------------ -------------------- ------------------------- ------------------------------------------------ ------------------------------------------------- ------------------------------------------------
TOTAL 114,630 227 - 114,857 98,988 4,091 - 103,079
===================== ============ ===================== ============ ===================== ============ ===================== ============ ===================== ============ ===================== ============ ===================== ============ ===================== ============
EXPENDITURE
Cost of Generating funds:-
Property management costs 38,721 - - 38,721 1,865 - - 1,865
Brewin Dolphin Portfolio Management fees - - 6,037 6,037 - - 3,798 3,798
------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------
38,721 - 6,037 44,758 1,865 - 3,798 5,663
==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ====================================
Direct charitable expenditure:-
Grants made:-
Grant to Strode’s College 27,720 - - 27,720 42,170 - - 42,170
Grants to The Magna Carta School 35,000 - - 35,000 65,311 - - 65,311
Local school & youth group grants etc. 22,870 - - 22,870 13,252 - - 13,252
Disbursements (prizes) - 227 - 227 - 91 - 91
------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------
85,590
227		 - 85,817 120,733 91 - 120,824
==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ====================================
Support and Governance costs:-
Independent Examination and accounts preparation 3,600 - - 3,600 4,200 - - 4,200
Legal and Professional 8,965 - - 8,965 17,897 - - 17,897
Other 2,248 - - 2,248 1,009 - - 1,009
------------------------------------------------ ----------------------------------------------- ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ----------------------------------------------- ------------------------------------------------ ------------------------------------------------
14,813 - - 14,813 23,106 - - 23,106
==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ====================================
TOTAL
139,124 227 6,037 145,388 145,704 91 3,798 149,593
==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ====================================
NET INCOMING/OUTGOING RESOURCES BEFORE TRANSFERS
(CARRIED FORWARD) (24,494) - (6,037) (30,531) (46,716) 4,000 (3,798) (46,514)

5

STRODE’S FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Restricted
Unrestricted Restricted Restricted Funds – Total Unrestricted Restricted Funds – Total
General Fund Funds -Bequests etc Endowments 2025
 General Funds Funds -Bequests etc Endowments 2024
£ £ £ £ £ £ £ £
NET INCOMING/OUTGOING RESOURCES BEFORE
TRANSFERS (BROUGHT FORWARD) (24,494) - (6,037) (30,531) (46,716) 4,000 (3,798) (46,514)
------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------
NET INCOMING RESOURCES BEFORE OTHER
RECOGNISED GAINS AND LOSSES (24,494) - (6,037) (30,531) (46,716) 4,000 (3,798) (46,514)
Realised gain on sale of investment property - - - - - - 707 707
Unrealised gains on sale of investments ( Note 3a & b) - (49) 355,203 355,154 - (34) 130,599 130,525
------------------------------------------------ ------------------------------------------------ ----------------------------------------- ------- ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ----------------------------------------- ------- ------------------------------------------------
NET MOVEMENT IN FUNDS
NET MOVEMENT IN FUNDS (24,494) (49) 349,166 324,623 (46,716) 3,966 127,468 84,718
Total funds brought forward 199,959 6,221 1,856,133 2,062,313 246,675 2,255 1,728,665 1,977,595
------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------
TOTAL FUNDS CARRIED FORWARD 175,465 6,172 2,205,299 2,386,936 199,959 6,221 1,856,133 2,062,313
==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ==================================== ====================================

6

STRODE’S FOUNDATION

BALANCE SHEET

AT 31 MARCH 2025

Note 2025 2024
£ £
FIXED ASSETS
Property in use 2 42,470 42,470
Investment property 3a 375,000 20,000
Investments 3b 1,606,339 1,613,305
------------------------------------------------ ------------------------------------------------
2,023,809 1,675,775
==================================== ====================================
CURRENT ASSETS
Debtors 4 5,120 2,950
Short term deposits 352,894 382,185
Cash at bank and in hand 10,882 7,983
------------------------------------------------ ------------------------------------------------
368,896 393,118
CURRENT LIABILITIES
Creditors and accruals 5 5,769 6,580
------------------------------------------------ ------------------------------------------------
NET CURRENT ASSETS 363,127 386,538
==================================== ====================================
NET ASSETS 6 2,386,936 2,062,313
==================================== ====================================
FUNDS
Unrestricted income funds:
Unrestricted General Funds 175,456 199,959
------------------------------------------------ ------------------------------------------------
175,465 199,959
==================================== ====================================
Restricted Funds:
Endowments 6&7 2,205,299 1,856,133
Bequests etc. 6&7 6,172 6,221
------------------------------------------------ ------------------------------------------------
2,211,471 1,862,354
==================================== ====================================
TOTAL FUNDS 2,386,936 2,062,313
==================================== ====================================

Approved by the Trustees and signed on their behalf by:

V.M. Bairstow ~~…………………………………~~ V.M. Bairstow (Jan 15, 2026 15:03:54 GMT) ……… V M Bairstow Chairman of Trustees

15 January 2026

7

STRODE’S FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Strode’s Foundation is an unincorporated charity regulated by a Scheme approved by the Charity Commission and is registered in England and Wales. Details of its principal activities and place of business are set out in the Trustees’ Annual Report on pages 1, 2, 3 and 4.

General

The financial statements 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Strode’s Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The accounts are presented in £ Sterling (GBP) and are rounded to the nearest £.

Fund accounting

Unrestricted General Funds are available for use at the discretion of the Trustees in furtherance of the object of the charity.

Designated Funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted Funds – Bequests and other similar types of income are subject to restrictions on their expenditure specified by the donors or through the terms of any fundraising initiative.

Endowments are funds given to be retained and invested to provide income for the Foundation.

Property in use

Property in use is recognized at cost, which includes the purchase price and any costs directly attributable to bringing the asset to its present location and condition for its intended use. Subsequent to initial recognition, property in use is carried at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is charged on a systematic basis over the asset’s estimated useful life to reflect the pattern in which the asset’s future economic benefits are expected to be consumed. The residual value, useful lives, and depreciation methods are reviewed at each reporting date and adjusted if appropriate.

Gains or losses arising from the disposal or retirement of property in use are determined as the difference between the proceeds and the carrying amount of the asset, and are recognized in profit or loss.

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Foundation is entitled to the income and the amount can be quantified with reasonable accuracy. The following policies are applied to specific categories of income:

8

STRODE’S FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

ACCOUNTING POLICIES (CONTINUED)

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannot be recovered and is reported as part of the expenditure to which it relates. The following policies are applied to specific categories of expenditure:

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Property in use

Property in use is capitalised and valued based on a guidance report on martket values dated 24 July 1996.

Depreciation

Depreciation is provided where relevant to write off the cost of an asset less its estimated residual value over the useful economic life of the asset.

Going Concern

The Foundation has significant assets both in its General Fund and in Endowments. In the opinion of the Trustees, the Foundation is a going concern for at least twelve months from the date of approval of these financial statements and for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

Judgements and Estimates

In the opinion of the Trustees, there are no significant judgements or estimates used in the preparation of these financial statements.

2. PROPERTY IN USE

PROPERTY IN USE
Strode’s College Boathouse 2025 Total 2024 Total
£ £ £ £
Used for direct charitable purposes
Valuation 1 April 2024 40,000 2,470 42,470 42,470
------------------------------------------------ -------------------------------------------------- -------------------------------------------------- --------------------------------------------------
Valuation 31 March 2025 40,000 2,470 42,470 42,470
==================================== ==================================== ==================================== ====================================
Historic cost 31 March 2025 96,315 6,500 102,815 102,815
==================================== ==================================== ==================================== ====================================

The Trustees consider that the estimated residual value of the assets is substantially in excess of the values shown above and accordingly no depreciation has been provided.

9

NOTES TO THE ACCOUNTS (CONTINUED)

STRODE’S FOUNDATION

FOR THE YEAR ENDED 31 MARCH 2025

3a. INVESTMENT PROPERTY

NVESTMENT PROPERTY
Land at Staines 2025 Total 2024 Total
£ £ £
Valuation 1 April 2024 20,000 20,000 20,000
Revaluation in the year 355,000 355,000 -
------------------------------------------------ ------------------------------------------------- ------------------------------------------------
Valuation 31 March 2025 375,000 375,000 20,000
==================================== ==================================== ====================================
Historic cost at 31 March 2025 NIL NIL NIL
==================================== =================================== ====================================

Subsequent to the year end but before the approval of these financial statement the land at Staines has been sold. Sale proceeds were £375,000 and an equivalent uplift in the carrying value of the land has been included in the year.

3b. INVESTMENTS

2025 2024
£ £
Market value at 1 April 2024 1,613,305 1,305,098
Disposals at opening market value (6,037) (3,797)
Net additions 1,132 175,000
Unrealised investment gains 203 137,004
""""""""""""""""""""""""""""" """"""""""""""""""""""""""""
#$%&'()$*+'$(,-#$%./0102 -34143,,5 -34-,3,12
66666666666666666666666666666666666666 66666666666666666666666666666666666666
Market Value Market Value
31.03.2025 31.03.2024
Investment Holdings £ £
Endowments:
BlackRock Charities UK Bond Fund 107,602 128,054
Brewin Dolphin managed funds 1,492,565 1,483,030
Bequests etc.
BlackRock Charities UK Bond fund 6,172 6,221
------------------------------------------------ ------------------------------------------------
1,606,339 1,613,305
==================================== ====================================
4. DEBTORS
2025
 2024
£
 £
Accrued income 3,913 2,950
Other debtors 1,207 -
------------------------------------------------ ------------------------------------------------
5,120 2,950
==================================== ====================================
5. CREDITORS AND ACCRUALS
2025 2024
£ £
Accruals 5,769
 6,580
------------------------------------------------ ------------------------------------------------
5,769 6,580
==================================== ====================================

10

STRODE’S FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF STRODE’S FOUNDATION

FOR THE YEAR ENDED 31 MARCH 2025

6. SUMMARY OF NET ASSETS BY FUNDS

Summary of net assets by funds - current year

Unrestricted Restricted Restricted
General Funds Funds
General Endowments Bequests etc. 2025 Total
£ £ £ £
Property - 42,470 - 42,470
Investment property - 375,000 - 375,000
Investments - 1,600,167 6,172 1,606,339
Net current assets 175,465 187,662 - 363,127
------------------------------------------------ ----------------------------------------------- ------------------------------------------------ -------------------------------------------------
175,465 2,205,299 6,172 2,386,936
==================================== ==================================== ==================================== =====================================

Summary of net assets by funds - previous year

Unrestricted Restricted Restricted
General Funds Funds
General Endowments Bequests etc. 2024 Total
£ £ £ £
Property - 42,470 - 42,470
Investment property - 20,000 - 20,000
Investments - 1,607,084 6,221 1,613,305
Net current assets 199,959 186,579 - 386,538
------------------------------------------------ ----------------------------------------------- ------------------------------------------------ -------------------------------------------------
199,959 1,856,133 6,221 2,062,313
==================================== ==================================== ==================================== =====================================

7. RESTRICTED FUNDS

These comprise the Endowments and Bequests etc. which includes property and investments and funds arising from property realisations.

2025 2024
£ £
Balance brought forward 1,862,354 1,730,920
Investment management fee (6,037) (3,798)
Additions - 4,000
Net Gains on investments 355,154 130,525
Net gain on sale of property - 707
------------------------------------------------ ------------------------------------------------
Balance carried forward 2,211,471 1,862,354
==================================== ====================================

11

STRODE’S FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF STRODE’S FOUNDATION

FOR THE YEAR ENDED 31 MARCH 2025

8. BEQUEST ETC. FUNDS

There are nine restricted bequest funds all of which are invested in Blackrock Income Shares. Disbursements are made annually from the income to provide prizes for students at the Strode’s campus. Two of these bequests are in the same name and have been aggregated.

At 1 April 2024 Disbursements Unrealsied
At 31
Interest this year Gain/Loss
March 2025
£ £ £ £
E Budgen 206 8 8 (5)
201
J M Gittings 566 21 21 (12)
554
A W Maude 260 9 9 (6)
254
D M Jenkins 260 10 10 (6)
254
P Hicks 472 17 17 (11)
461
F W Stickler 457 17 17 (9)
448
Old Strodians’ Association 2,000 72 72 -
2,000
James Brady 2,000 73 73 -
2,000
------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------ ------------------------------------------------
6,221 227 227 49
6,172
==================================== ==================================== ==================================== ==================================== ====================================

9. RELATED PARTY TRANSACTIONS AND TRUSTEE EXPENSES

During the year the following amounts were charged by businesses in which a Trustee has an interest. All amounts are agreed and invoiced on normal commercial terms.

Trustee Professional Professional Description
Fees 2025 Fees 2024
Mrs V Cresswell £1,200 £1,200 Professional fees accrued for book keeping
and accounting services to Three Kings
Accounting Limited, a company of which
Mrs
Cresswell		 is
the
director
and
shareholder.
Mr N D Jamison £726 £1,800 Legal fees accrued to Horne, Engall &
Freeman LLP. Mr Jamison is the Managing
Partner.

No expenses were reimbursed to trustees during tjeh year ( 2024:nil)

10. FINANCIAL COMMITMENTS

Trustees continued to grant Academic Achievers’ Awards via Strode’s College to relevant students, with a total of £8,000 being outstanding at the year-end to three students (2024; £5,000).

An additional grant of £10,000 has been committed to be paid to TWFCG after the year end to support the Strode’s campus.

At the date of approval of these financial statements the following estimated financial commitments had been made :

12

STRODE’S FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF STRODE’S FOUNDATION

FOR THE YEAR ENDED 31 MARCH 2025

11. LESSORS OPERATING LEASE COMMITMENTS

The Foundation has entered into a number of non-cancellable operating leases as lessor for which the total of future minimum lease payments receivable under non-cancellable operating leases are as follows:

Within one year
Later than one year but within five years
Later than five years
Total		 2025
£
27,943
103,440
272,460
403,843		 2024
£
43,360
155,940
296,320
495,620

Post year-end, a new lease for the Boat House was entered into on 9 October effective from 3 June 2025 at an annual rental of £17,500 for 5 years without review and expiring 2 June 2030.

.

13

STRODE’S FOUNDATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF STRODE’S FOUNDATION

FOR THE YEAR ENDED 31 MARCH 2025

I report to the Trustees on my examination of the accounts of Strode’s Foundation for the year ended 31 March 2025, set out on pages 5 to 13.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity trustees of the Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the Foundation’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.

INDEPENDENT EXAMINER'S STATEMENT

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

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

  1. Accounting records were not kept in respect of the Trust as required by section 130 of the 2011 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.

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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the parent Charity and the Charity's Trustees as a body, for my work or for this report.

Andrew Beet

Andrew Beet (Jan 15, 2026 15:12:00 GMT)

15/01/2026

Andrew Beet FCA Independent Examiner Kirk Rice LLP The Court Yard High Street Ascot Berkshire SL5 7HP

14

SF31.03.25 FINAL

Final Audit Report

2026-01-15

Created: 2026-01-15 By: vanessa cresswell (vanessa@threekingsaccountingltd.co.uk) Status: Signed Transaction ID: CBJCHBCAABAANUjRkaOySbyeV7FtzDUc9Dt3iZHWCrGj

"SF31.03.25 FINAL" History

Document emailed to Vivian Bairstow (lordegham@gmail.com) for signature

2026-01-15 - 1:35:22 PM GMT

2026-01-15 - 3:01:19 PM GMT

Signature Date: 2026-01-15 - 3:03:54 PM GMT - Time Source: server

Document emailed to Andrew Beet (andrew.beet@kirkrice.co.uk) for signature 2026-01-15 - 3:03:56 PM GMT

Agreement completed.

2026-01-15 - 3:12:00 PM GMT