Trustees’ Annual Report for the period
From 01/01/2024 Period start date To 31/12/2024 Period end date
Charity name: William Davis’s Educational Foundation
Charity registration number: 312314
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | (A) A Sunday school or classes for religious instruction in accordance with the doctrines of the Church of England; (B) Evening or other classes for instruction is secular subjects or lectures of and educational character; (C) Physical instruction; (D) The advancement of education by means of a library or reading room; (E) Otherwise promoting the education of children; candidates for the benefits mentioned above to be poor children resident in the beneficial area of the Diocese of London |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Grant giving and fund-raising for projects to support extra-curricula activities in schools in the benefit area. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | Trustees are guided to the information published by the Charity Commission, and understand the objectives of this Charity. All applications are discussed, and decisions arrived at jointly. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | Grants may be offered to Schools proposed by and operating within the ambit of the London Diocesan Board for Schools (LDBS). Projects that require additional fund-raising may be adopted and supported. |
| Policy on social investment including program related investment |
Para 1.38 | Not applicable |
| Contribution made by volunteers |
Para 1.38 | Not applicable |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Grants have been made to support three projects for which there has been additional fund-raising activity. Trustees were pleased to note that their support directly resulted in the successful raising of the outstanding funds required to deliver the whole project. Schools report that the projects are enhancing delivery of the National Curriculum to a wide base of students and give them opportunity to express ideas and tell stories in new ways. The services of a professional Fundraiser have been retained. The area of benefit has been formally extended to the entire area of the Diocese of London giving access for many more schools. |
Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set |
Para 1.41 |
|
|---|---|---|
| Performance of fundraising activities against objectives |
Para 1.41 |
| set | ||
|---|---|---|
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the end of the period the charity held a cash balance of £15,508 and the value of the investments showed an increase of just over 9% over a five year average. Trustees have agreed to review the investment strategy in line with the policy of optimising income and ensuring long-term capital growth |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Trustees aim to disburse all funds available after costs to beneficiaries annually. If insufficient eligible applications are received a proportion of available funds may be reinvested, the remainder held as cash or in a deposit account. Funds may be held as cash or in a deposit account to cover unforeseen costs or other need for funds; fund short-term deficits in a cash budget; support projects that require the charity to provide matched funding. |
| Amount of reserves held | Para 1.22 | £15,508 |
| Reasons for holding zero reserves |
Para 1.22 | Not applicable |
| Details of fund materially in deficit |
Para 1.24 | Not applicable |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | Not applicable |
Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
The principal source of funds is an investment fund which is managed to generate income that is used directly for the activities of the Charity. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
A description of the principal Para 1.46 risks facing the charity Other
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust deed |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Foundation CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Election to post |
Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works The Charity works closely with the London Relationship with any Para 1.51 Diocesan Board for Schools (LDBS) related parties Other
Reference and Administrative details
Charity name William Davis’s Educational Foundation Other name the charity uses Davis Trust Registered charity number 312314 Charity’s principal address
Coglan House Old Monmouth Road LONGHOPE Gloucestershire GL17 0NZ
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| John Davis | Chair | |||
| Walter Davis | DeputyChair | |||
| Fiona Saunders- Watson |
Treasurer | |||
| Mark Davis | Trustee | |||
| KayBoag | Trustee | |||
| Charles Gould | Trustee | |||
| Alexandra Gould | Trustee | |||
| Elspeth Mitchell | Trustee | |||
| Lynn Maxwell | Trustee | |||
| Sean Davis | Trustee | |||
| Cecilia Paton | Trustee | |||
| Nicola Daubeny | Clerk | |||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Not applicable
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) N J Daubeny
Full name(s) Nicola Jane Daubeny
Position (eg Secretary, Clerk Chair, etc)
Date
28/08/2025
REGISTERED CHARITY NUMBER: 312314
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Contents of the Financial Statements for the year ended 31 DECEMBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Report of the Trustees for the year ended 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
312314
Principal address
Coglan House Old Monmouth Road Longhope Gloucestershire GL17 0NZ
Trustees
F S Watson Lead Trustee J H W Davis Chair C Gould A Gould E Mitchell S Davis K L Boag N J Daubeny M W Davis L E Maxwell W W Davis
Independent Examiner
Mr Kupesh Patel Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
Approved by order of the board of trustees on 3 June 2025 and signed on its behalf by:
F S Watson - Trustee
Page 1
Independent Examiner's Report to the Trustees of William Davis's Educational Foundation
Independent examiner's report to the trustees of William Davis's Educational Foundation
I report to the charity trustees on my examination of the accounts of William Davis's Educational Foundation (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Mr Kupesh Patel The Association of Chartered Certified Accountants
Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
3 June 2025
Page 2
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Statement of Financial Activities
for the year ended 31 DECEMBER 2024
| Notes 2024 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,500 Investment income 2 31,377 Total 38,878 EXPENDITURE ON Raising funds 3 42,667 Other 1,620 Total 44,287 Net gains/(losses) on investments 18,787 NET INCOME/(EXPENDITURE) 13,378 RECONCILIATION OF FUNDS Total funds brought forward 899,395 TOTAL FUNDS CARRIED FORWARD 912,772 |
2023 Total funds £ 4,102 29,693 33,795 32,191 3,000 35,191 42,509 41,113 858,282 899,395 |
|---|---|
The notes form part of these financial statements
Page 3
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Balance Sheet
31 DECEMBER 2023
| FIXED ASSETS Notes Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 8 TOTAL FUNDS |
2024 Unrestricted fund £ 898,824 15,508 (1,560) 13,948 912,772 912,772 912,772 912,772 |
2023 Total funds £ 880,037 20,857 (1,499) |
|---|---|---|
| 19,358 | ||
| 899,395 | ||
| 899,395 | ||
| 899,395 | ||
| 899,395 |
The financial statements were approved by the Board of Trustees and authorised for issue on 25 May 2025 and were signed on its behalf by:
F S Watson - Trustee
The notes form part of these financial statements
Page 4
WILLIAM DAVIS'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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Intangible assets
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.
2. INVESTMENT INCOME
| Other fixed asset invest - FII Deposit account interest |
2024 £ 31,077 300 31,377 |
2023 £ 29,512 181 |
|---|---|---|
| 29,693 |
Page 5
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
3. RAISING FUNDS
| Raising donations and legacies Fundraising costs Charitable donations Support costs |
2024 £ 6,600 34,775 1,292 42,667 |
2023 £ 5,447 25,000 1,744 |
|---|---|---|
| 32,191 |
4. 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
| Trustees' expenses | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Trustees' expenses | 479 | 189 |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 4,102 | |
| Investment income | 29,693 | |
| Total | 33,795 | |
| EXPENDITURE ON | ||
| Raising funds | 35,191 | |
| Net gains/(losses) on investments | 42,509 | |
| NET INCOME/(EXPENDITURE) | 41,113 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 858,282 | |
| TOTAL FUNDS CARRIED FORWARD | 899,395 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Page 6
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Unlisted | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2024 | 880,037 |
| Additions | - |
| Revaluations | 18,787 |
| At 31 December 2024 | 898,824 |
| NET BOOK VALUE | |
| At 31 December 2024 | 898,824 |
| At 31 December 2023 | 880,037 |
There were no investment assets outside the UK.
Cost or valuation at 31 December 2024 is represented by:
| Unlisted | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Valuation | in | 2022 | (40,206) |
| Valuation | in | 2023 | 42,509 |
| Valuation | in | 2024 | 18,787 |
| Cost | 877,734 | ||
| 898,824 |
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 899,395 899,395 |
2024 £ 1,560 Net movement in funds £ 13,377 13,378 |
2023 £ 1,499 At 31.12.24 £ 912,772 912,772 |
|---|---|---|---|
8. MOVEMENT IN FUNDS
Page 7
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 38,877 | (44,287) | 18,787 | 13,377 |
| TOTAL FUNDS | 38,877 | (44,287) | 18,787 | 13,377 |
Comparatives for movement in funds
| Unrestricted funds Unrestricted funds General fund 33,795 TOTAL FUNDS 33,795 General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Incoming resources £ |
35,191) (35,191) At 1.1.23 £ 858,282 858,282 Resources expended £ |
(42,509) (41,113) (42,509) (41,113) Net movement At in funds 31.12.23 £ £ 41,113 899,395 41,113 899,395 Gains and Movement losses in funds £ £ |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.24 in funds 31.12.24 £ £ £ 899,395 13,377 912,772 899,395 13,378 912,772 |
|---|---|
Page 8
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 38,877 | (44,287) | 18,787 | 13,377 |
| TOTAL FUNDS | 38,877 | (44,287) | 18,787 | 13,377 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 9
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the year ended 31 DECEMBER 2024 | ||
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 7,500 | 4.102 |
| Investment income | ||
| Other fixed asset invest - FII | 31,077 | 29,512 |
| Deposit account interest | 300 | 181 |
| 31,377 | 29,693 | |
| Total incoming resources | 38,877 | 33,795 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising costs | 6,600 | 5,447 |
| Charitable donations | 34,775 | 25,000 |
| 41,375 | 30,447 | |
| Support costs | ||
| Governance costs | ||
| Trustees' expenses | 479 | 189 |
| Computer costs | 813 | 1,555 |
| Accountancy and legal fees | 1,620 | 3,000 |
| 2,912 | 4,744 | |
| Total resources expended | 44,287 | 35,191 |
| Net (expenditure)/income before gains and | ||
| losses | (5,410) | (1,396) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 18,787 | 42,509 |
| Net income/(expenditure) | 13,377 | 41,113 |
This page does not form part of the statutory financial statements
Page 10
REGISTERED CHARITY NUMBER: 312314
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Contents of the Financial Statements for the year ended 31 DECEMBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Report of the Trustees for the year ended 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
312314
Principal address
Coglan House Old Monmouth Road Longhope Gloucestershire GL17 0NZ
Trustees
F S Watson Lead Trustee J H W Davis Chair C Gould A Gould E Mitchell S Davis K L Boag N J Daubeny M W Davis L E Maxwell W W Davis
Independent Examiner
Mr Kupesh Patel Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
Approved by order of the board of trustees on 3 June 2025 and signed on its behalf by:
F S Watson - Trustee
Page 1
Independent Examiner's Report to the Trustees of William Davis's Educational Foundation
Independent examiner's report to the trustees of William Davis's Educational Foundation
I report to the charity trustees on my examination of the accounts of William Davis's Educational Foundation (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Mr Kupesh Patel The Association of Chartered Certified Accountants
Coopers&Co Ltd Thistledown Barn 204 Holcot Road Sywell Northampton Northamptonshire NN6 0BG
3 June 2025
Page 2
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Statement of Financial Activities
for the year ended 31 DECEMBER 2024
| Notes 2024 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,500 Investment income 2 31,377 Total 38,878 EXPENDITURE ON Raising funds 3 42,667 Other 1,620 Total 44,287 Net gains/(losses) on investments 18,787 NET INCOME/(EXPENDITURE) 13,378 RECONCILIATION OF FUNDS Total funds brought forward 899,395 TOTAL FUNDS CARRIED FORWARD 912,772 |
2023 Total funds £ 4,102 29,693 33,795 32,191 3,000 35,191 42,509 41,113 858,282 899,395 |
|---|---|
The notes form part of these financial statements
Page 3
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Balance Sheet
31 DECEMBER 2023
| FIXED ASSETS Notes Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 8 TOTAL FUNDS |
2024 Unrestricted fund £ 898,824 15,508 (1,560) 13,948 912,772 912,772 912,772 912,772 |
2023 Total funds £ 880,037 20,857 (1,499) |
|---|---|---|
| 19,358 | ||
| 899,395 | ||
| 899,395 | ||
| 899,395 | ||
| 899,395 |
The financial statements were approved by the Board of Trustees and authorised for issue on 25 May 2025 and were signed on its behalf by:
F S Watson - Trustee
The notes form part of these financial statements
Page 4
WILLIAM DAVIS'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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Intangible assets
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.
2. INVESTMENT INCOME
| Other fixed asset invest - FII Deposit account interest |
2024 £ 31,077 300 31,377 |
2023 £ 29,512 181 |
|---|---|---|
| 29,693 |
Page 5
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
3. RAISING FUNDS
| Raising donations and legacies Fundraising costs Charitable donations Support costs |
2024 £ 6,600 34,775 1,292 42,667 |
2023 £ 5,447 25,000 1,744 |
|---|---|---|
| 32,191 |
4. 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
| Trustees' expenses | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Trustees' expenses | 479 | 189 |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 4,102 | |
| Investment income | 29,693 | |
| Total | 33,795 | |
| EXPENDITURE ON | ||
| Raising funds | 35,191 | |
| Net gains/(losses) on investments | 42,509 | |
| NET INCOME/(EXPENDITURE) | 41,113 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 858,282 | |
| TOTAL FUNDS CARRIED FORWARD | 899,395 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Page 6
continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Unlisted | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2024 | 880,037 |
| Additions | - |
| Revaluations | 18,787 |
| At 31 December 2024 | 898,824 |
| NET BOOK VALUE | |
| At 31 December 2024 | 898,824 |
| At 31 December 2023 | 880,037 |
There were no investment assets outside the UK.
Cost or valuation at 31 December 2024 is represented by:
| Unlisted | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Valuation | in | 2022 | (40,206) |
| Valuation | in | 2023 | 42,509 |
| Valuation | in | 2024 | 18,787 |
| Cost | 877,734 | ||
| 898,824 |
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 899,395 899,395 |
2024 £ 1,560 Net movement in funds £ 13,377 13,378 |
2023 £ 1,499 At 31.12.24 £ 912,772 912,772 |
|---|---|---|---|
8. MOVEMENT IN FUNDS
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continued...
WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 38,877 | (44,287) | 18,787 | 13,377 |
| TOTAL FUNDS | 38,877 | (44,287) | 18,787 | 13,377 |
Comparatives for movement in funds
| Unrestricted funds Unrestricted funds General fund 33,795 TOTAL FUNDS 33,795 General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Incoming resources £ |
35,191) (35,191) At 1.1.23 £ 858,282 858,282 Resources expended £ |
(42,509) (41,113) (42,509) (41,113) Net movement At in funds 31.12.23 £ £ 41,113 899,395 41,113 899,395 Gains and Movement losses in funds £ £ |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.24 in funds 31.12.24 £ £ £ 899,395 13,377 912,772 899,395 13,378 912,772 |
|---|---|
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WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2024
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 38,877 | (44,287) | 18,787 | 13,377 |
| TOTAL FUNDS | 38,877 | (44,287) | 18,787 | 13,377 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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WILLIAM DAVIS'S EDUCATIONAL FOUNDATION
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the year ended 31 DECEMBER 2024 | ||
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 7,500 | 4.102 |
| Investment income | ||
| Other fixed asset invest - FII | 31,077 | 29,512 |
| Deposit account interest | 300 | 181 |
| 31,377 | 29,693 | |
| Total incoming resources | 38,877 | 33,795 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising costs | 6,600 | 5,447 |
| Charitable donations | 34,775 | 25,000 |
| 41,375 | 30,447 | |
| Support costs | ||
| Governance costs | ||
| Trustees' expenses | 479 | 189 |
| Computer costs | 813 | 1,555 |
| Accountancy and legal fees | 1,620 | 3,000 |
| 2,912 | 4,744 | |
| Total resources expended | 44,287 | 35,191 |
| Net (expenditure)/income before gains and | ||
| losses | (5,410) | (1,396) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 18,787 | 42,509 |
| Net income/(expenditure) | 13,377 | 41,113 |
This page does not form part of the statutory financial statements
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