RATCLIFF EDUCATIONAL FOUNDATION
Report for the year ended 31[st] December 2024
Charity Registration Number: 312340
Trustees: Rev Trevor Critchlow Ms Alberta Matin Mr Tim Miller Mr Julian Cass Ms Elizabeth Venables
Clerk: Nicholas Charrington From 2026 Hannah Charrington will take over as Clerk.
Purpose: An Educational Charity.
Capital Fund: The Foundation has no power to spend capital monies. Income from the capital fund is transferred to the General Fund to offset expenditure.
General Fund: The Foundation has powers to spend capital monies as well as income from investments.
Investment portfolio: The Foundation has a diversified portfolio of investments.
Investment transactions: There were no investment transactions during this period.
Property: The Whitehorse Workshops is occupied by the Tower Project on a full repairing lease. The Tower Project has spent in excess of £100,000 on building work on the property and major additional work is planned. No depreciation has been charged in this year’s accounts. No formal valuation of the property has been carried out and the property is shown in the accounts at a 1937 valuation. The Trustees have no plans to sell the property. During 2017 a new lease was negotiated with the Tower Project for a 20 year period, commencing 28[th] Feb 2017. The initial rent is £50,000 per annum.
Grants:
During 2025 the following grants were made: Stepney Greencoat School £13,650 towards play therapy Stepney Greencoat School £4,482 towards LDBS maintenance fund The Tower Project £20,000 towards core funding Stepney City Farm £25,000 towards educational work Rich Mix Film Education £5,000 towards Schools programme Flip the Script
Reserves: The Trustees retain the Foundation’s reserves at current levels (subject to market fluctuations) in order to generate the income required to continue grant making. The Trustees review the policy on an annual basis.
Risk Assessment: The major risks to which the charity is exposed, as identified by the Trustees and their advisers, have been reviewed. Systems have been established to mitigate these risks.
RATCLIFF EDUCATIONAL FOUNDATION
Risk Assessment
Governance
The Trustees are governed by an original scheme of 1862, varied by schemes of 1884, 1907, and a new regulated scheme of 1995. Trustees have different skills to contribute, and between them offer knowledge of
a) The educational needs of the Tower Hamlets area, in particular of Stepney Greencoat School.
b) The management of property
c) Financial awareness
Thus far it has not proven difficult to find Trustees of the right calibre. There are no employees of the Foundation
Operational
The Trustees determine what grants to make, and administration is undertaken by the Clerk. The management of the Foundation’s property known as the Whitehorse Workshops is almost entirely subcontracted to the tenants The Tower Project. (see below)
Finance
a) Investment management
The management of the Trustees portfolio of investments is subcontracted to
i) CCLA Investment Management Limited is the Fund Manager of the COIF Charity Funds. ii) Black Rock Fund Managers Limited is the Fund Manager of the Charinco Common Investment Fund and the Charishare Common Investment Fund.
The Funds in which the Foundation has shares have a wide spread of investments.
b) Reserves
Adequate reserves and property are maintained for the needs of the Foundation.
c) Accounts
The accounts are prepared annually and independently audited. The risk of fraud is unlikely due to the comparatively small figures involved and the knowledge of the figures by the Trustees.
d) Banking
The Trustees have a Treasurer Account with HSBC. In 2006 a Business Money Master account was opened, which pays a small rate of interest. Monies may only be transferred in and out of this account via the Treasurer account. All cheques require two signatures – either two Trustees, or the Clerk and one Trustee.
Reputation
Through knowledge of the Trustees the Foundation aims to ensure that the grants it makes are to trustworthy and reputable organisations. The Tower Project is highly respected as is Stepney Greencoat School. Appropriate background information such as annual reports and/or accounts are sought before giving grants to organisations about which the Trustees have limited knowledge.
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RATCLIFF EDUCATIONAL FOUNDATION
| Balance Sheet as at 31st December | 2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| FIXED ASSETS | ae ge ee ee Ss eee ae Ea eSaay a GeySa RY ed |
|||||||||
| Freehold Properties | ||||||||||
| Greencoat School as valued for the Trustees in 1937 | 1,500 | 1,500 | ||||||||
| New School building contribution (less | ||||||||||
| amounts written off) | 3,301 | 4,801 | 3,301 | 4.801 | ||||||
| INVESTMENTS AT MARKET VALUE | ||||||||||
| Special Range | ||||||||||
| Charinco Income Shares | 7124.530 | 10,256 | 10,117 | |||||||
| Chanties Official Investment Fund Units | 2000.000 | 38,644 | 40,586 | |||||||
| Chanshare Income Units | 12760.063 | 107,632 | 156,532 | 95,573 | 146,276 | |||||
| Wider Range | ||||||||||
| Charishare Income Shares | 11270.478 | 95,067 | 84,416 | |||||||
| ChanshareIncomeShares | 6067.778 | 51,182 | 45,448 | |||||||
| Charinco Income Shares | 6708.050 | 9,657 | 9,525 | |||||||
| Charities Official Investment Fund Units | 1000.000 | 19,322 | 175,228 | 331,760 | 20,293 | 159,682 | 305,958 | |||
| CURRENT ASSETS | ||||||||||
| Bank Balance HSBC Community Account | 46,597 | 51,983 | ||||||||
| Bank Balance HSBC MoneyManagerAccount | 7,502 | 54,099 | 7,380 | 59,364 | ||||||
| DebtorsTower Project | 50,000 | $0,000 | ||||||||
| Debtors Blackstock Undistributed Income | 50,000 | 50,000 | ||||||||
| 104,099 | 109,364 | |||||||||
| CURRENT LIABILITIES | ||||||||||
| Administration | (1,750) | -1,400 | ||||||||
| Creditors | (28,078) | -24,601 | ||||||||
| (29,828) | (26,001) | |||||||||
| 74,271 | 83,363 | |||||||||
| 410,832 | 394,122 | |||||||||
| Represented by | ||||||||||
| CAPITAL FUND | ||||||||||
| Balance at IstJanuary | 151,078 | 148,014 | ||||||||
| Unrealised gain (loss)on revaluationofinvestments | 10,256 | 3,064 | ||||||||
| 161,334 | 151,078 | |||||||||
| GENERAL FUND | ||||||||||
| Balance at IstJanuary | 243,044 | 242,322 | ||||||||
| Realised gain on disposal ofinvestments | ||||||||||
| Unrealised gain (loss)on revaluation ofinvestments | 15,546 | 3,583 | ||||||||
| Netincoming/(outgoing) resources foryear | (9,092) | 249,498 | (2,861) | 243,044 | ||||||
| Signed , : WAN l Auditor's Certificate ; |
haveexaminedtheaccountsoftx€ RatcliffEducational[— Incommonwithother organisations responsibilityforthesoooandexpenditurerestswithoneperson.Theenquines examination leadme toconclude thatcomplete records have been maintained. Subject |
other organisationsofasumilarsize,the enquines |
havemadeduringtheindependent to the foregoingcomments, inmyOpinion the |
|||||||
| accounts give a fairview ofthe state ofaffairs of the Trust as at 31st | December 2025. | |||||||||
| NigelThompstone |
| | :
RATCLIFF EDUCATIONAL FOUNDATION
Financial Statement for the year ended 31st December 2025
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| 2024 | 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| INCOME AND EXPENDITURE | t | |||||||
| INCOMING RESOURCES | ||||||||
| Investment Income | 10,264 | 10,117 | ||||||
| Whitehorse Workshop Rent | 50,000 | 50,000 | ||||||
| Bank Interest Receivable | 122 | 142 | ||||||
| TOTALINCOMING RESOURCES | 60,386 ae. | 2 | er | gong | ||||
| RESOURCES EXPENDED | ||||||||
| Whitehorse Workshop Grant | 20,000 | 20,000 | ||||||
| Rich Mix Film Education - ‘Flip the Script’ | 5,000 | 5,000 | ||||||
| London Diocease Schools - maintenance scheme | 4,482 | 4,509 | ||||||
| Stepney Greencoat School - Play Therapist/Playground | 13,650 | 13,650 | ||||||
| Stepney Farm | 25,000 | 15,000 | ||||||
| Paradigm | 3,000 | |||||||
| 68,132 | 61,159 | |||||||
| Expenditure: | ||||||||
| Birketts Solicitors & Land Registry Search/Fee |
957 | 1,523 | ||||||
| Administration Costs | 350 | 350 | ||||||
| Bank charges | 39 | 89 | ||||||
| TOTALRESOURCESEXPENDED | 69,478; |
63,121] | ||||||
| NETINCOMING / (OUTGOING) RESOURCES | a) eee ee) |
|||||||
| Other recognized gains: | ||||||||
| Capital Fund | ||||||||
| Realised gains on disposal ofinvestments | - | - | ||||||
| Unrealised gains on revaluation ofinvestments | 10,256 | 3,065 | ||||||
| General Fund | ||||||||
| Realised gains on disposal ofinvestments | . | - | ||||||
| Unrealised gains on revaluation ofinvestments | 15,546 | 3,583 | ||||||
| FundMovement | ae ivi 25 O02) ax Bess | ee | ||||||
| NETMOVEMENT IN FUNDSFORYEAR | 96.710:1oe. | 3,786 | ||||||
| FundsatIstJanuary | 394,122a | 390,336 | ||||||
| FUNDSAT31STDECEMBER | 410,832See | ee | So) | |||||
| Statement ofSources and Application | ofFunds | |||||||
| Movements in working capital | ||||||||
| (Increase) / Reduction in Debtors | - | 31,484 | ||||||
| Increase / (Reduction) in Creditors | 3,827 | (44,132) | ||||||
| ikae | 12,648 | |||||||
| SurplusofIncoming/(Outgoing) Resources Total netSource& Applications |
foryear | year | (9,092)re |
) (5,265) = | ] | |||
| MOVEMENT IN BANK BALANCES | ||||||||
| Increase / (Decrease) in Current& Deposit Account | (5,265) | (15,510) | ||||||
| Signed Auditor's Certificate |
W | (0) | ||||||
| ; | ||||||||
| have examined the accounts ofthe Ratgfiff Education | uNdation. Incommon with other organisations ofa similar size, the | |||||||
| responsibility for the accounting of infome and expenditure rests with one person. The enquiries |
have made during the independent | |||||||
| examination lead me to conclude tat complete records have been maintained. Subject to | the foregoing comments, in my opinion the | |||||||
| accounts give a fair view of the state ofaffairs of the Trust | as at 31st December 2025 | |||||||
| NigelThompstone |
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RATCLIFF EDUCATIONAL FOUNDATION
Investment Income 2025
toe Spee he nie | Rete | (2028 2° Pe 2028 27
March
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
June
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
August
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
November
COIF Income share (bid) 2,000.00 0.1455 291.00
COIF Income share (bid) 1,000.00 0.1455 145.50 436.50
January 20th
BLK Charities UK Equity Fund A 11,270.48 0.0620 698.77
BLK Charities UK Equity Fund A 6,067.78 0.0620 376.20
BLK Chanties UK Bond Fund A 6,708.05 0.0087 58.09
BLK Charities UK Equity Fund A 12,760.063 0.0620 791.12
BLK Charities UK Bond Fund A 7,124.53 0.0087 61.69 1,985.87
April 2oth
BLK Chanties UK Equity Fund A 11,270.48 0.0590 664.96
BLK Charities UK Equity Fund A 6,067.78 0.0590 358.00
BLK Chanties UK Bond Fund A 6,708.05 0.0150 100.62
| BLK Charities UK Equity Fund A 12,760.063 0.0590 752.85
BLK Charities UK Bond Fund A 7,124.53 0.0150 106.87 1,983.29
July 22
BLK Charities UK Equity Fund A 11,270.48 0.0720 811.47
| BLK Charities UK Equity Fund A 6,067.78 0.0720 436.88
BLK Charities UK Bond Fund A 6,708.05 0.0200 134.16
BLK Charities UK Equity Fund A 12,760.063 0.0720 918.72
BLK Charities UK Bond Fund A 7,124.53 0.0200 142.49 2,443.73
October 20th
BLK Charities UK Equity Fund A 11,270.48 0.0645 726.95
BLK Charities UK Equity Fund A 6,067.78 0.0645 391.37
BLK Charities UK Bond Fund A 6,708.05 0.0150 100.62
BLK Charities UK Equity Fund A 12,760.063 0.0645 823.02
BLK Charities UK Bond Fund A 7,124.53 0.0150 106.87 2,148.83
SubTotal 0 648. ia aC eae i | sn 6363 | 10,263.68 |
Income by Fund for year to 31 December 2025
Blackrock Charities UK Bond Fund 13,832.58 811.41 811.41
Blackrock Charities UK Equity Fund 30,098.32 7,750.32 7,750.32
COIF 3,000.00 1,701.90 1,701.90
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10,263.63 10,263.63
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|
RATCLIFF EDUCATIONAL FOUNDATION
| Balance Sheet as at 31st December | 2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| FIXED ASSETS | ae ge ee ee Ss eee ae Ea eSaay a GeySa RY ed |
|||||||||
| Freehold Properties | ||||||||||
| Greencoat School as valued for the Trustees in 1937 | 1,500 | 1,500 | ||||||||
| New School building contribution (less | ||||||||||
| amounts written off) | 3,301 | 4,801 | 3,301 | 4.801 | ||||||
| INVESTMENTS AT MARKET VALUE | ||||||||||
| Special Range | ||||||||||
| Charinco Income Shares | 7124.530 | 10,256 | 10,117 | |||||||
| Chanties Official Investment Fund Units | 2000.000 | 38,644 | 40,586 | |||||||
| Chanshare Income Units | 12760.063 | 107,632 | 156,532 | 95,573 | 146,276 | |||||
| Wider Range | ||||||||||
| Charishare Income Shares | 11270.478 | 95,067 | 84,416 | |||||||
| ChanshareIncomeShares | 6067.778 | 51,182 | 45,448 | |||||||
| Charinco Income Shares | 6708.050 | 9,657 | 9,525 | |||||||
| Charities Official Investment Fund Units | 1000.000 | 19,322 | 175,228 | 331,760 | 20,293 | 159,682 | 305,958 | |||
| CURRENT ASSETS | ||||||||||
| Bank Balance HSBC Community Account | 46,597 | 51,983 | ||||||||
| Bank Balance HSBC MoneyManagerAccount | 7,502 | 54,099 | 7,380 | 59,364 | ||||||
| DebtorsTower Project | 50,000 | $0,000 | ||||||||
| Debtors Blackstock Undistributed Income | 50,000 | 50,000 | ||||||||
| 104,099 | 109,364 | |||||||||
| CURRENT LIABILITIES | ||||||||||
| Administration | (1,750) | -1,400 | ||||||||
| Creditors | (28,078) | -24,601 | ||||||||
| (29,828) | (26,001) | |||||||||
| 74,271 | 83,363 | |||||||||
| 410,832 | 394,122 | |||||||||
| Represented by | ||||||||||
| CAPITAL FUND | ||||||||||
| Balance at IstJanuary | 151,078 | 148,014 | ||||||||
| Unrealised gain (loss)on revaluationofinvestments | 10,256 | 3,064 | ||||||||
| 161,334 | 151,078 | |||||||||
| GENERAL FUND | ||||||||||
| Balance at IstJanuary | 243,044 | 242,322 | ||||||||
| Realised gain on disposal ofinvestments | ||||||||||
| Unrealised gain (loss)on revaluation ofinvestments | 15,546 | 3,583 | ||||||||
| Netincoming/(outgoing) resources foryear | (9,092) | 249,498 | (2,861) | 243,044 | ||||||
| Signed , : WAN l Auditor's Certificate ; |
haveexaminedtheaccountsoftx€ RatcliffEducational[— Incommonwithother organisations responsibilityforthesoooandexpenditurerestswithoneperson.Theenquines examination leadme toconclude thatcomplete records have been maintained. Subject |
other organisationsofasumilarsize,the enquines |
havemadeduringtheindependent to the foregoingcomments, inmyOpinion the |
|||||||
| accounts give a fairview ofthe state ofaffairs of the Trust as at 31st | December 2025. | |||||||||
| NigelThompstone |
| | :
RATCLIFF EDUCATIONAL FOUNDATION
Financial Statement for the year ended 31st December 2025
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| 2024 | 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| INCOME AND EXPENDITURE | t | |||||||
| INCOMING RESOURCES | ||||||||
| Investment Income | 10,264 | 10,117 | ||||||
| Whitehorse Workshop Rent | 50,000 | 50,000 | ||||||
| Bank Interest Receivable | 122 | 142 | ||||||
| TOTALINCOMING RESOURCES | 60,386 ae. | 2 | er | gong | ||||
| RESOURCES EXPENDED | ||||||||
| Whitehorse Workshop Grant | 20,000 | 20,000 | ||||||
| Rich Mix Film Education - ‘Flip the Script’ | 5,000 | 5,000 | ||||||
| London Diocease Schools - maintenance scheme | 4,482 | 4,509 | ||||||
| Stepney Greencoat School - Play Therapist/Playground | 13,650 | 13,650 | ||||||
| Stepney Farm | 25,000 | 15,000 | ||||||
| Paradigm | 3,000 | |||||||
| 68,132 | 61,159 | |||||||
| Expenditure: | ||||||||
| Birketts Solicitors & Land Registry Search/Fee |
957 | 1,523 | ||||||
| Administration Costs | 350 | 350 | ||||||
| Bank charges | 39 | 89 | ||||||
| TOTALRESOURCESEXPENDED | 69,478; |
63,121] | ||||||
| NETINCOMING / (OUTGOING) RESOURCES | a) eee ee) |
|||||||
| Other recognized gains: | ||||||||
| Capital Fund | ||||||||
| Realised gains on disposal ofinvestments | - | - | ||||||
| Unrealised gains on revaluation ofinvestments | 10,256 | 3,065 | ||||||
| General Fund | ||||||||
| Realised gains on disposal ofinvestments | . | - | ||||||
| Unrealised gains on revaluation ofinvestments | 15,546 | 3,583 | ||||||
| FundMovement | ae ivi 25 O02) ax Bess | ee | ||||||
| NETMOVEMENT IN FUNDSFORYEAR | 96.710:1oe. | 3,786 | ||||||
| FundsatIstJanuary | 394,122a | 390,336 | ||||||
| FUNDSAT31STDECEMBER | 410,832See | ee | So) | |||||
| Statement ofSources and Application | ofFunds | |||||||
| Movements in working capital | ||||||||
| (Increase) / Reduction in Debtors | - | 31,484 | ||||||
| Increase / (Reduction) in Creditors | 3,827 | (44,132) | ||||||
| ikae | 12,648 | |||||||
| SurplusofIncoming/(Outgoing) Resources Total netSource& Applications |
foryear | year | (9,092)re |
) (5,265) = | ] | |||
| MOVEMENT IN BANK BALANCES | ||||||||
| Increase / (Decrease) in Current& Deposit Account | (5,265) | (15,510) | ||||||
| Signed Auditor's Certificate |
W | (0) | ||||||
| ; | ||||||||
| have examined the accounts ofthe Ratgfiff Education | uNdation. Incommon with other organisations ofa similar size, the | |||||||
| responsibility for the accounting of infome and expenditure rests with one person. The enquiries |
have made during the independent | |||||||
| examination lead me to conclude tat complete records have been maintained. Subject to | the foregoing comments, in my opinion the | |||||||
| accounts give a fair view of the state ofaffairs of the Trust | as at 31st December 2025 | |||||||
| NigelThompstone |
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RATCLIFF EDUCATIONAL FOUNDATION
Investment Income 2025
toe Spee he nie | Rete | (2028 2° Pe 2028 27
March
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
June
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
August
COIF Income share (bid) 2,000.00 0.1406 281.20
COIF Income share (bid) 1,000.00 0.1406 140.60 421.80
November
COIF Income share (bid) 2,000.00 0.1455 291.00
COIF Income share (bid) 1,000.00 0.1455 145.50 436.50
January 20th
BLK Charities UK Equity Fund A 11,270.48 0.0620 698.77
BLK Charities UK Equity Fund A 6,067.78 0.0620 376.20
BLK Chanties UK Bond Fund A 6,708.05 0.0087 58.09
BLK Charities UK Equity Fund A 12,760.063 0.0620 791.12
BLK Charities UK Bond Fund A 7,124.53 0.0087 61.69 1,985.87
April 2oth
BLK Chanties UK Equity Fund A 11,270.48 0.0590 664.96
BLK Charities UK Equity Fund A 6,067.78 0.0590 358.00
BLK Chanties UK Bond Fund A 6,708.05 0.0150 100.62
| BLK Charities UK Equity Fund A 12,760.063 0.0590 752.85
BLK Charities UK Bond Fund A 7,124.53 0.0150 106.87 1,983.29
July 22
BLK Charities UK Equity Fund A 11,270.48 0.0720 811.47
| BLK Charities UK Equity Fund A 6,067.78 0.0720 436.88
BLK Charities UK Bond Fund A 6,708.05 0.0200 134.16
BLK Charities UK Equity Fund A 12,760.063 0.0720 918.72
BLK Charities UK Bond Fund A 7,124.53 0.0200 142.49 2,443.73
October 20th
BLK Charities UK Equity Fund A 11,270.48 0.0645 726.95
BLK Charities UK Equity Fund A 6,067.78 0.0645 391.37
BLK Charities UK Bond Fund A 6,708.05 0.0150 100.62
BLK Charities UK Equity Fund A 12,760.063 0.0645 823.02
BLK Charities UK Bond Fund A 7,124.53 0.0150 106.87 2,148.83
SubTotal 0 648. ia aC eae i | sn 6363 | 10,263.68 |
Income by Fund for year to 31 December 2025
Blackrock Charities UK Bond Fund 13,832.58 811.41 811.41
Blackrock Charities UK Equity Fund 30,098.32 7,750.32 7,750.32
COIF 3,000.00 1,701.90 1,701.90
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10,263.63 10,263.63