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← Newcomen Collett Educational Foundation

2025-08-31-accounts

Newcomen Collett Educational Foundation Charity No. 312804

Financial Statements

for the year ended 31[st] August 2025

Newcomen Collett Educational Foundation

Index

Page

Governors, Officers and Advisers ................................................................................................................ 1 Report of the Governors ...................................................................................................................... 2 to 7 Report of the Independent Examiner ........................................................................................................... 8 Statement of Financial Activities ......................................................................................................... 9 to 10 Balance Sheet ........................................................................................................................................... 11 Statement of Cashflows ............................................................................................................................. 12 Notes to the Accounts ....................................................................................................................... 13 to 20 Analysis of Major Grants ............................................................................................................................ 20

1

Newcomen Collett Educational Foundation

Governors, Officers and Advisers

GOVERNORS (are appointed by resolution of the remaining governors for a term of 4 years)

FIRST APPOINTED
a Alderman Tim McNally 14.12.17
E Wingfield Esq (resigned 12/06/25) 10.03.22
a b c R Lovell Esq (Chair) 15.03.99
a b R V Ashdown Esq 22.09.05
A Leiffheidt Esq 11.12.08
Mrs J Goodland (resigned
11/12/25) 13.12.13
P MacFarlane Esq (resigned
18/9/25) 26.09.14
c Canon M Rawson (Vice Chair) 10.03.16
Mrs Neha Jain (resigned 18/9/25) 09.03.17
Ms Janet Simpson 13.12.18
Ms Rachel Thompson (appointed
12/6/25) 12.06.25
a
Member of the Investment Committee
b
Member of the Audit Committee
c
Member of the Governor Selection Committee

All governors are also trustees of St Mary Newington Educational Foundation, charity number 312317.

OFFICERS Ms C M de Cintra BA ACA Clerk to the Governors Ms A Lamont Field Officer

PRINCIPAL OFFICE

Marshall House 66 Newcomen Street London SE1 1YT

Tel : 020 7407 2967 e-mail: clerk@newcomencollett.org.uk

BANKERS Unity Trust Bank plc Nine Brindley Place Birmingham B1 2HB

Charity Bank Ltd Fosse House, 182 High Street Tonbridge TN9 1BE

SOLICITORS Cripps LLP 22 Mount Ephraim Tunbridge Wells TN4 8AS

INDEPENDENT EXAMINER

Mrs C Williams FCCA Verdant Accountants 20-22 Wenlock Road London N1 7GU

INVESTMENT MANAGERS CCLA 85 Queen Victoria Street London ECV4 4ET

2

Newcomen Collett Educational Foundation

Report of the Governors for 2025

1. OBJECTIVES AND ACTIVITIES

Purposes of the Foundation

The Foundation was formed by the merger in 1988 of two much older charities. The Elizabeth Newcomen Educational Foundation was formed in 1685 and John Collett Educational Foundation in 1711. Both charities had been set up for the benefit of young people in and around Southwark.

The charitable purposes of the Newcomen Collett Educational Foundation are:

On 31[st] January 2022 all the Governors of Newcomen Collett Foundation became Trustees of St Mary Newington Educational Foundation. St. Mary Newington Educational Foundation is constituted by a Charity Commission Scheme. The object of the Charity is to provide financial assistance to children in need in the former parish of St. Mary Newington.

In 2024 the name of the charity was changed from Newcomen Collett Foundation to Newcomen Collett Educational Foundation, to make its area of activity clearer.

Public Benefit

The objects and purposes of the Foundation are set out in the first paragraphs of this Report. The Governors confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant-making policy for the year.

Activities

The principal area of activity is awarding grants using funds generated from investment assets. This is explained in more detail below.

For many years, the Foundation has shared the offices and costs with Marshall’s Charity, another grant-making charity. We will deal with this relationship further under the section on governance below.

A) Investment Management

As an Endowed Foundation one of the primary tasks of the Governors is to manage the investment assets. The Governors have adopted a policy of prudent diversification in relation to the investments and as such hold the investments in both property and equity assets.

The Investment Committee advises the Governors on investment policy for the Foundation. The aim is to balance the needs of current and future beneficiaries. The specific financial objectives of the Foundation are:

The Governors have invested all securities in accumulation units in order to grow the endowment fund for future beneficiaries. Grants to current beneficiaries are made from unrestricted funds.

Securities held by St Mary Newington Educational Foundation are invested in income units.

3

Newcomen Collett Educational Foundation

Report of the Governors for 2025

Property

Approximately 60% of the endowment is currently invested directly in property. The portfolio is diversified by size, location and class.

The Investment Committee continues to explore the development potential of all the properties in the portfolio. The Governors are also identifying which properties should continue to be held in the portfolio and are devising a strategy for selling properties identified for disposal.

The Foundation’s property portfolio is actively managed by the Surveyor to Marshall’s Charity.

Securities

Approximately 40% of the current endowment is invested in securities.

The investment policy recommends diversification of risk. The Foundation and St Mary Newington Educational Foundation both hold their funds in the CCLA COIF Charities Investment Fund, a Common Investment Fund which gives the necessary diversification.

The Fund Manager issues quarterly reports showing the performance of the Funds. The Governors continue to monitor performance and also to keep under review the level of securities held in relation to property investments.

B) Grant-Making

The objects of the Foundation, which are set out in section 1, provide for four types of grant.

In practice most of the grant-making activities fall within the fourth object. In relation to the first three objects:

The grants made under the fourth object fall into three categories: school uniform grants, grants to individuals and grants to organisations.

School Uniform Grants

In the autumn every primary school in Southwark was invited to receive a grant to be used where pupils need emergency school uniform, to be used at the school’s discretion. 34 school said yes and each received £500 for this purpose.

Grants to Individuals

Individuals who are under the age of 25 and have been resident in Southwark for at least two years are eligible to apply for a grant towards the cost of their education. The majority of grants are awarded towards the costs of those attending tertiary or higher education. Priority is given to natives of Southwark, and to those embarking on their first post-school qualification. Grants to individuals under the age of 16 are usually only awarded in cases of exceptional talent or need. Individuals are eligible to apply once in any twelve-month period. The Governors do not make multi-year awards but will usually consider repeat applications from students for as long as they continue their studies.

Grants to Organisations

Organisations who work with young people in Southwark are eligible to apply for grants. Support is given towards a breadth of activities including residential trips, music productions and equipment, sports resources, arts projects, after school clubs and holiday clubs. Priority is given to organisations which are based in Southwark.

St Mary Newington Educational Foundation allocates between 40% and 50% of net income for the purpose of enabling the Governors or Managers of Church Schools within the boundary of the Ancient Parish of St Mary Newington to comply with their obligations with respect to the maintenance of such schools under the Educations Act, 1944 to 1953. The Trustees apply the balance of net income to be available for grants to organisations situated within the boundary of the Ancient Parish of St Mary Newington.

4

Newcomen Collett Educational Foundation

Report of the Governors for 2025

2. ACHIEVEMENTS AND PERFORMANCE

Achievements

The year ended 31[st] August 2025 was a busy and successful year for the Foundation. There were no Income returns from securities as all securities were in accumulation funds. However rental income from properties and the rundown of accumulated reserves enabled the Foundation to award grants of over £144k to 132 individuals and organisations (2024: £113k to 176 individuals and organisations).

The various achievements are explored in more detail below.

A) Investment Management

Property

The capital values of the properties increased by 6.6% over the year (2024: 3.5). Rental income for the year showed a return of 6.7% (2024: 6.9%). There were no bad or doubtful debts. Two residential properties have been vacated in order that they can be sold.

Securities

The value of securities decreased by 0.57% (2024: increase of 4.85%) over the year. There were no sales or purchases during the year.

The investment managers provide regular reports on the performance of the fund, and the Governors review the performance of their investments on a regular basis. The Foundation compares performance to the individual fund's own benchmarks.

St Mary Newington Educational Foundation holds all its investments in the CCLA COIF Charities Investment Fund.

B) Grant-making

The Foundation has continued to see greater demand for its grants than it has funds available. Consequently, the Governors, with the assistance of the Field Officer, follow the grant-making priorities of the Foundation. It is hoped that this will enable the Foundation’s limited funds to be directed to those organisations and individuals who will benefit most from a grant.

The number of grants awarded during the year are set out below:

School Uniform Grants

£17,000 was divided equally amongst 34 primary schools for the purchase of school uniforms at the schools’ discretion. In 2024 82 individual grants were awarded for the purchase of school uniforms.

Grants to Individuals

21 (2024 – 18) grants were awarded to individuals over the year and these were generally towards the living costs of those pursuing post-16 educational opportunities.

Grants to Organisations

77 (2024 – 76) grants were awarded to organisations for a range of projects covering the arts, drama, sports, school trips and holiday clubs.

Grants made by St Mary Newington Educational Foundation

1 (2024 – 1) grant was made to a school for maintenance purposes, 7 (2024 - 7) grants were made to organisations and 1 (2024 – 1) grant was made to an individual to promote education.

3. FINANCIAL REVIEW

Review of Finances

The Newcomen Collett Educational Foundation incurred a deficit of £39,521 (2024: £18,020) on its activities during the year, excluding gains on investments. The Governors had agreed a deficit budget for the period of £30,697 to reduce unrestricted reserves. St Mary Newington Educational Foundation incurred a deficit of £7,784 (2024: £3,897) on its activities during the year, before losses on investments. Thus, the consolidated results for the period showed a deficit of £47,305 (2024:

5

Newcomen Collett Educational Foundation

Report of the Governors for 2025

The freehold investment properties are revalued annually by the Surveyor to Marshall’s Charity. This year, in his view, there has been an increase in the value of the portfolio.

Reserves Policy

The Governors have adopted a policy regarding free reserves which seeks to ensure that

Free reserves exclude restricted funds and designated funds. They also exclude any unrestricted funds held in fixed assets. At 31[st] August 2025 the target level of free reserves was £90,000. However, the actual level was £245,140. The governors have agreed to reduce the free reserves over a number of years by increasing the amount of grants awarded and hence setting budgets with a deficit. The budgeted deficit for the year ending 31[st] August 2026 is £42,667.

Going Concern

Having reviewed the financial performance for the year, the budget for the year ended 31[st] August 2026 and plans for future years, the Governors confirm that the financial statements for the year to 31[st] August 2025 can be prepared on the going concern basis.

Investment Policy

The Governors updated the Investment Policy in September 2025. Currently the Governors do not wish to impose any specific ethical investment policy; however potential investments are assessed to ensure congruence with the aims and ethos of the Foundation.

Plans for the Future

The Foundation has a long-term strategy to build up its asset base in order to provide more income for the important grant needs of the community it serves. It is currently working to merge with St Mary Newington Educational Foundation.

Risk

The Risk Register is considered in detail at each Governors meeting and appropriate actions are being taken to mitigate any risks identified.

As at 31[st] August 2025 there were no major risks facing the Foundation.

4. STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Documents & Governors

The Foundation was set up under a Scheme of the Charity Commissioners dated 16 September 1988.

The Foundation is controlled by a body of Governors, who are the trustees of the Foundation, all of whom are members of the General Meeting of Governors. Governors are elected to serve for a four-year period and may be re-elected for subsequent four-year periods. There is a maximum of fourteen Governors, none of whom receives any remuneration or benefit from the Foundation.

One Governor may be appointed as a Representative Governor by the Governors of the Cathedral School and Janet Simpson is currently that Governor. One other Governor may be appointed as a Representative Governor by the Guy’s & St Thomas’ Charitable Trust and Tim McNally is currently that Governor.

The Governors are pleased that Canon Michael Rawson is currently a Governor. He is Sub Dean and Canon Pastor at Southwark Cathedral. The Foundation has had a long relationship with Southwark Cathedral and the Governors are delighted that the relationship continues, and that Michael is able to represent the concerns of the local community.

St Mary Newington Educational Foundation is a registered charity (number 312317) which is governed by two schemes, the 1916 Scheme made by the Board of Education and the 1955 Scheme made by the Minister of Education, as amended by a Scheme of the Charity Commission dated 10th December 1965 and a resolution dated 26 September 2010.

Governor Selection & Training

The Governor Selection Committee meets as necessary to consider new appointments of Governors. There are currently six vacancies for Governors on the Board.

6

Newcomen Collett Educational Foundation

Report of the Governors for 2025

The Foundation is fortunate to have many highly qualified and experienced Governors who are also active in other charities. In keeping with the need to maintain the highest levels of governance. The Foundation encourages all Governors to participate in training that is relevant and which will assist them in their roles. Through our membership of the Charity Finance Group and the Association of Charitable Foundations and also from professional advisers, various courses are available in many of the specialist areas that affect the Foundation.

The management of the Foundation and its assets is largely undertaken by two experienced professional staff in the persons of the Clerk and the Surveyor of Marshall’s Charity, and the Foundation ensures that both of them undertake appropriate continuing professional education relevant to its needs. Both of them ensure that the relevant knowledge gained in this training is forwarded to the Governors.

Governance

As with the corporate world, the charity sector has recognised that good governance and transparency are key responsibilities in their relationship with the community they serve. The Newcomen Collett Educational Foundation seeks to ensure that it meets the highest standards in these areas consistent with the size of its operations and funds. To this end, the Foundation seeks to ensure compliance with the Charity Governance Code.

There are currently three committees: an Investment Committee, an Audit Committee and a Governor Selection Committee. All committees have formal terms of reference and no committee has delegated powers to act without the authority of the General Meeting of Governors. The Governors rely greatly on the careful and thoughtful work undertaken by these committees which allows the General Meeting to deal more effectively with the many issues which are its concern.

The Foundation has a working agreement with Marshall’s Charity, together with a license to occupy the premises at Newcomen Street, which sets out the terms for sharing staff between the two charities.

In order to allow potential beneficiaries to find out more easily about the work of the Foundation and their ability to qualify for grants, the Foundation has its own website, www.newcomencollett.org.uk. As well as providing information about the Foundation, a link on this website allows applications to be processed online.

Audit Committee

The full board of trustees currently oversees the production of annual statutory accounts, rather than the audit committee. The independent examiner is offered the opportunity to report to the Governors in confidence on any issues that might have arisen during the independent examination.

Management

The day-to-day management of the affairs of the Foundation is delegated to the Clerk and the Field Officer. The Governors believe that the operation of a Foundation with assets and income of this scale requires management by professionally trained staff with its necessary costs. They are immensely grateful to both the Clerk and the Field Officer for their dedication to the work of the Foundation, as well as the support given by Jim Keegan as Surveyor to Marshall’s Charity, who reports regularly to the Governors on matters related to the property portfolio of the Foundation.

Remuneration Committee

The pay arrangements for Foundation staff employed by Marshall’s Charity are dealt with by the Remuneration Committee of Marshall’s Charity. In view of the close working relationship between the charities, the Committee invites the Newcomen Collett Educational Foundation to nominate representatives to join them for its meetings. At its annual meeting the Committee receives a report from the Clerk on staff issues and performance and then considers sector and national pay rates and conditions, and levels of inflation, before preparing its recommendations. The Chair advises the Governors on salary reviews for its own members of staff.

Remuneration Policy

The Governors are grateful for the commitment and enthusiasm of the Foundation’s staff. The Governors take the view that it is essential to attract and retain staff with the appropriate skills and capabilities and reward them fairly for delivering the Foundation’s important work. In order to do this the Foundation reviews its salaries on a regular basis and this is done in conjunction with Marshall’s Charity Remuneration Committee.

7

Newcomen Collett Educational Foundation

Report of the Governors for 2025

Statement of Governors’ Responsibilities

The Governors are responsible for preparing the Report of the Governors and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Governors 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 its incoming resources and application of resources of the Foundation for that period.

In preparing these financial statements the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation’s transactions and 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 Charity (Accounts and Report) Regulations 2008 and the provisions of its Constitutional 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.

The Governors are responsible for the maintenance and integrity of the corporate and financial information included on the Foundation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.

Approved by the Governors on 11" December 2025 and signed on their behalf.

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Robin Lovell 4 Michae! Rawson
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8

Newcomen Collett Educational Foundation

Independent Examiner’s Report to the Governors for 2025

I report to the Trustees on my examination of the accounts of Newcomen Collett Educational Foundation for the year ended 31 August 2025 which are set out on pages 9 to 20.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.

I report in respect of my examination of the Trust’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the charity 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.

Chaweevan Williams FCCA Verdant Accountants Ltd 20-22 Wenlock Road London N1 7GU

Date: 12th December 2025

Newcomen Collett Educational Foundation

9

Consolidated Statement of Financial Activities for the year ended 31st August 2025

Notes
INCOME AND ENDOWMENTS FROM:
Investment income
Property rentals
Dividends & other income
4
Total income
EXPENDITURE ON:
Raising funds
15
Charitable activities
15
Total expenditure
Net income/(expenditure) before
gains and losses on investment
Net recognised gains / (losses)
on investment
Property - unrealised
2
Securities - realised & unrealised
3
Net income/(expenditure) after
gains and losses on investment
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Endowment
Group
Group
Funds
Fund
2025
2024
£
£
£
£
193,449
-
193,449
186,432
16,719
-
16,719
15,574
210,168
-
210,168
202,006
59,751
-
59,751
55,351
197,722
-
197,722
168,572
257,473
-
257,473
223,923
(47,305)
-
(47,305)
(21,917)
-
179,000
179,000
91,000
(11,413)
(15,322)
(26,735)
220,044
(58,718)
163,678
104,960
289,127
-
-
-
-
(58,718)
163,678
104,960
289,127
696,961
4,395,410
5,092,371
4,803,244
638,243
4,559,088
5,197,331
5,092,371

All the above amounts relate to continuing activities and include all recognised gains and losses.

The notes on pages 13 to 20 form part of these accounts.

Newcomen Collett Educational Foundation

10

Charity Statement of Financial Activities for the year ended 31st August 2025

Notes
INCOME AND ENDOWMENTS FROM:
Investment income
Property rentals
Dividends & other income
4
Total income
EXPENDITURE ON:
Raising funds
15
Charitable activities
15
Total expenditure
Net income/(expenditure) before
gains and losses on investment
Net recognised gains / (losses)
on investment
Property - unrealised
2
Securities - realised & unrealised
3
Net income/(expenditure) after
gains and losses on investment
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Endowment
Total
Total
Funds
Fund
2025
2024
£
£
£
£
193,449
-
193,449
186,432
4,561
-
4,561
5,061
198,010
-
198,010
191,493
59,700
-
59,700
55,276
177,831
-
177,831
154,237
237,531
-
237,531
209,513
(39,521)
-
(39,521)
(18,020)
-
179,000
179,000
91,000
-
(15,322)
(15,322)
187,788
(39,521)
163,678
124,157
260,768
-
-
-
-
(39,521)
163,678
124,157
260,768
284,661
4,395,410
4,680,071
4,419,303
245,140
4,559,088
4,804,228
4,680,071

All the above amounts relate to continuing activities and include all recognised gains and losses.

The notes on pages 13 to 20 form part of these accounts.

11

Newcomen Collett Educational Foundation

Balance

at

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|||||||||| |---|---|---|---|---|---|---|---|---| |Group|Charity|Group|Charity| |2025|2025|2024|2024| |Notes|E|£|s|E| |FIXED ASSETS| |Investments|-|General|Purposes| |2,890,000|2,890,000|2,711,000|2,711,000| |3|2,191,788|1,882,408|2,218,522|1.897.730| |———a| |5,081,788|4,772,408|4,929,522|4,608,730| |CURRENT ASSETS| |207|207|345|345| |Cash|at bank|and|in|hance|217,499|122,236|249,858|182,200| |217,706|122,443|250,203|152,545| |Creditors:|Amounts|falling| |due within|one|year|a|102,163|90,623|87,354|81,204:| |Net current assets|115,543|31,820|162,849|71 341,| |NET ASSETS|§,197,331|4,804,228|5,092,371|4,680,071| |FUNDS| |8|638,243|245,140|696.9617|284.661| |4,559,088|4,559,088|4,395,470|4,395,410| |TOTAL FUNDS|§,197,331|4,804,228|5,092,371|4,680,071|

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Approved by the Governors and authorised for issue on 11th December 2025 and signed on their behalf:

Governor

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Robin Lovell | pt
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Governor

Michael Rawson NVoraenrt( Cos

———e

The notes on pages 13 to 20 form part of these accounts.

Newcomen Collett Educational Foundation

12

Consolidated Statement of Cash Flows for the year ended 31st August 2025

Notes
Cash flows from operating activities:
Net cash provided by (used in) operating activities
16
Cash flows from investing activites:
Dividends, interest and rents from investments
Proceeds from the sale of investments
Purchase of investments
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period		 2025
2024
£
£
(242,527)
(214,781)
210,168
202,006
-
393,467
-
(219,780)
210,168
375,693
(32,359)
160,912
249,858
88,946
217,499
249,858

13

Newcomen Collett Educational Foundation

Notes to the accounts for the year ended 31[st] August 2025

1. Accounting Policies

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. Judgements made by the trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the valuation of properties and are discussed below.

14

Newcomen Collett Educational Foundation

Notes to the accounts for the year ended 31[st] August 2025

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

15

Newcomen Collett Educational Foundation

Notes to the accounts for the year ended 31st August 2025 (continued)

2 Freehold properties

Freehold properties
Opening balance at 1st September 2024
Revaluation of properties at year end
Closing balance at 31st August 2025		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
2,711,000
2,711,000
2,620,000
2,620,000
179,000
179,000
91,000
91,000
2,890,000
2,890,000
2,711,000
2,711,000

The property portfolio has been valued by Mr J Keegan DipBS MCIAT C.BUILD.E MCABE, who is the Surveyor to Marshall's Charity. The valuation is on the basis of open market value.

3 Securities - UK Managed Funds

Market value at 1st September 2024
Additions during the year
Disposal during the year
Surplus/(loss) on sale of securities
Net gain on revaluations during the year
Market value at 31st August 2025
Historical cost at 31st August 2025		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
2,218,522
1,897,730
2,172,165
1,809,942
-
-
219,780
-
-
-
(393,467)
(100,000)
-
-
4,218
(3,748)
(26,734)
(15,322)
215,826
191,536
2,191,788
1,882,408
2,218,522
1,897,730
1,652,041
1,569,923
1,652,041
1,569,923

Securities consisted of the following holdings:

Securities consisted of the following holdings:
Market Value Market Value
Group Charity Group Charity
2025 2025 2024 2024
£ £ £ £
CCLA COIF Charities Investment Fund 2,191,788 1,882,408 2,218,522 1,897,730

Newcomen Collett Educational Foundation

16

Notes to the accounts for the year ended 31st August 2025 (continued)

4

Dividends and interest on securities

UK Dividends
Other interest received and other income		 Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
8,847
9,308
-
7,872
4,561
6,266
5,061
16,719
4,561
15,574
5,061

5 Debtors and prepayments

Debtors and prepayments
Other debtors Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
207
207
345
345
207
207
345
345

6 Creditors: amounts falling due within one year

Grants authorised but unpaid
Rent deposits held for tenants
Value Added Tax
Other creditors		 Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
62,571
51,031
46,828
40,678
5,231
5,231
5,098
5,098
5,054
5,054
4,193
4,193
29,307
29,307
31,235
31,235
102,163
90,623
87,354
81,204

7 Endowment Fund

Endowment Fund
Balance brought forward from previous year
Adjustment to market value of properties
Adjustment to market value of securities
(Loss) on sale of securities		 Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
4,395,410
4,395,410
4,116,622
4,116,622
179,000
179,000
91,000
91,000
(15,322)
(15,322)
191,536
191,536
-
-
(3,748)
(3,748)
4,559,088
4,559,088
4,395,410
4,395,410

8 Unrestricted Funds

Unrestricted Funds
Balance brought forward from previous year
Adjustment to market value of securities
Sale of securities
Purchase of securities
Profit/(loss) on sale of securities
Surplus/(deficit) for the year		 Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
696,961
284,661
686,622
302,681
(11,412)
-
24,290
-
-
-
(293,467)
-
-
-
293,467
-
-
-
7,966
-
(47,305)
(39,521)
(21,917)
(18,020)
638,244
245,140
696,961
284,661

17

Newcomen Collett Educational Foundation

Notes to the accounts for the year ended 31st August 2025 (continued)

9 Governors and Related Party Transactions

10 Independent Examiner fees

Fees paid to the Independent Examiner in the year totalled £1,200 (2024 - £1,125) and were all in respect of independent examination services.

11 Analysis of Net Assets between Funds

Restricted Funds
Endowment Fund
Unrestricted Funds
Unallocated Income		 2025
2024
Net
Net
Investments
Current
Investments
Current
General
Assets/
Total
General
Assets/
Total
Purposes
(Liabilities)
Purposes
(Liabilities)
£
£
£
£
£
£
4,559,088
-
4,559,088
4,395,410
-
4,395,410
522,700
115,543
638,243
534,112
162,849
696,961
5,081,788
115,543
5,197,331
4,929,522
162,849
5,092,371

12 Analysis of staff costs and remuneration of key management personnel

Salaries and assessable benefits
Social security costs
Other pension contributions
Average number of staff (including full-time and part-time staff)
Field Officer		 Y/e 31/08/25
Y/e 31/08/24
£
£
16,276
15,420
848
634
2,618
2,522
19,742
18,576
1
1
1
1

In 2025 no employee received remuneration above £60,000 (2024- 0).

Newcomen Collett Educational Foundation

18

Notes to the accounts for the year ended 31st August 2025 (continued)

13 Allocation of support costs

The breakdown of support costs and how these were allocated between Governance and other support costs is shown below:

CHARITY

Cost type
Staff costs
Office costs & overheads
Cost type
Staff costs
Office costs & overheads
Cost type
Staff costs
Office costs & overheads
Cost type
Staff costs
Office costs & overheads		 Y/e 31/08/25
Governance
Other
related
support costs
TOTAL
Basis of
Apportionment
£
£
£
2,445
55,012
57,457
1,464
22,996
24,460
3,909
78,008
81,917
Staff time
Staff time
Y/e 31/08/24
Governance
Other
related
support costs
TOTAL
Basis of
Apportionment
£
£
£
2,549
51,670
54,219
1,239
25,040
26,279
3,788
76,710
80,498
Staff time
Staff time
GROUP
Y/e 31/08/25
Governance
Other
related
support costs
TOTAL
Basis of
Apportionment
£
£
£
2,448
55,008
57,457
1,464
23,080
24,544
3,912
78,089
82,001
Staff time
Staff time
Y/e 31/08/24
Governance
Other
related
support costs
TOTAL
Basis of
Apportionment
£
£
£
2,554
51,664
54,218
1,239
25,168
26,407
3,793
76,832
80,625
Staff time
Staff time

All staff support costs have been allocated on the estimated basis of time spent on those categories. All other overheads (except independent examination costs, which have been charged to Governance) have been allocated between the categories on the basis of the total staff costs.

14 Allocation of support costs

Investment Management
Grants		 Group
Charity
Group
Charity
Y/e 31/08/25
Y/e 31/08/25
Y/e 31/08/24
Y/e 31/08/24
£
£
£
£
37,881
37,830
36,722
36,647
44,120
44,087
43,903
43,851
82,001
81,917
80,625
80,498

19

Newcomen Collett Educational Foundation

Notes to the accounts for the year ended 31st August 2025 (continued)

15 Expenditure

CHARITY

Cost of raising funds
Investment Management
Property costs
Charitable activities
Grant costs available
(see note 17)		 Direct
Allocated
Direct
Allocated
costs
support
costs
support
costs
TOTAL
costs
TOTAL
Y/e 31/08/25
Y/e 31/08/24
£
£
£
£
£
£
-
37,830
37,830
-
36,647
36,647
21,870
-
21,870
18,629
-
18,629
21,870
37,830
59,700
18,629
36,647
55,276
133,744
44,087
177,831
110,386
43,851
154,237
155,614
81,917
237,531
129,015
80,498
209,513

GROUP

Cost of raising funds
Investment Management
Property costs
Charitable activities
Grant costs available
(see note 17)		 Direct
Allocated
Direct
Allocated
costs
support
costs
support
costs
TOTAL
costs
TOTAL
Y/e 31/08/25
Y/e 31/08/24
£
£
£
£
£
£
-
37,881
37,881
-
36,722
36,722
21,870
-
21,870
18,629
-
18,629
21,870
37,881
59,751
18,629
36,722
55,351
153,602
44,120
197,722
124,669
43,903
168,572
175,472
82,001
257,473
143,298
80,625
223,923

16 Reconciliation of net movement in funds to net cash from operating activities

Net income for the reporting period (as per
the statement of financial activities)
Losses/(gains) on investments
Dividends, interest and rents from investments
Decrease/(Increase) in debtors
Increase in creditors
Net cash used in operating activities		 Y/e 31/08/24
Y/e 31/08/24
£
£
104,960
289,127
(152,266)
(311,044)
(210,168)
(202,006)
138
(345)
14,809
9,487
(242,527)
(214,781)

20

Notes to the accounts for the year ended 31st August 2025 (continued)

Newcomen Collett Educational Foundation

17 Major grants during the year

Major grants during the year
Recipient
St Peter’s Primary School
Beormund Primary School
Goose Green Primary School
Coin Street Centre Trust
Oliver Goldsmith Primary School
Cathedral School
Downside Fisher Youth Club
PE and School Sports Network
Kazzum Arts Project
Box Clever Theatre Company
Time and Talents Association
Young Enterprise
Odyssey Festival Orchestra
Free to Be Kids
Lyndhurst Primary School
The Grove Nursery School
Family Volunteering Club
acet UK
Salem Academy of Music
Burgess Sports
Children & Family Empowerment
Camberwell Arts
Angel Oak Academy
Spa School Camberwell
Blue Elephant Theatre
Foundation for Young Musicians
National Youth Theatre
Vox Urbane
Longfield Hall Trust
St James' C of E Primary School
John Keats Primary School
John Donne Primary School
Bird in Bush Primary School
MSL
STEMAZINGKids
The Purple Ladies
ASD Community Hub
Inspire New Creative Performing Arts
Spring Community Hub
Magic Lantern
South London Gallery
Sports Fun 4 All
Southwark Music
Cracking Slate
Mountview Academy of Theatre Arts
Camberwell After School Project
Peckham Platform Ltd
John Donne Primary School
Bradfield Youth Club
Football Journeys
Team Up
Draper Together
Inspire Walworth
Pembroke House
Dulwich Village CE Infants' School
XLP
KIDS
Goose Green Primary School
Employment 4 ALL CIC
Pilgrims' Way School
Power2
Bellenden Primary School
Other grants to organisations &
individuals - Group 79, Charity 77
Less: Cancellations
Total net grants		 Group
Charity
Y/e 31/08/25
Y/e 31/08/25
£
£
Recipient
6,040
-
St Peter’s Primary School
2,929
2,929
Create (Arts) Limited
2,149
2,149
Ignite Hubs
2,127
2,127
Mountview Academy of Theatre Arts
2,016
2,016
1st St James Guides
2,000
2,000
Surrey Square Primary School
2,000
2,000
Free to Be Kids
2,000
2,000
Lyndhurst Primary School
2,000
2,000
Siblings Together
2,000
2,000
Camberwell After School Project
2,000
2,000
Cathedral School
2,000
2,000
Daddyless Daughter
2,000
2,000
Southwark African Initiative
2,000
2,000
Spa School Bermondsey
2,000
2,000
Galleywall Primary
2,000
2,000
Heritage Charity London
2,000
2,000
Odyssey Festival Orchestra
2,000
2,000
Bankside Village
2,000
2,000
Tower Bridge Primary School
2,000
-
The Movement Factory
2,000
-
Southwark Playhouse
1,995
1,995
Mint Street Music Festival Team
1,980
1,980
Longfield Hall Trust
1,954
1,954
John Donne Primary School
1,596
1,596
XLP
1,500
1,500
Magic Lantern
1,500
1,500
Third Camberwell Scout Group
1,500
1,500
Blue Elephant Theatre, Camberwell
1,500
1,500
Lyndhurst Primary School
1,500
1,500
LUNG Productions
1,500
1,500
Southwark Legends Basketball Club
1,500
1,500
Guildhall School of Music & Drama
1,500
1,500
Snowsfields
1,500
1,500
John Keats Primary School
1,500
1,500
Goose Green Primary School
1,500
1,500
Rotherhithe Primary School
1,500
1,500
Heber Primary School
1,500
1,500
St James' C of E Primary School
1,500
1,500
John Ruskin Primary School
1,500
1,500
Redriff Primary School
1,500
1,500
Dallaglio RugbyWorks
1,500
1,500
National Youth Theatre
1,500
1,500
Lyndhurst Primary School
1,500
1,500
Retune Charity Limited
1,500
1,500
Glaziers' Foundation
1,500
1,500
Pilot Theatre Ltd
1,500
1,500
Maya Productions
1,500
1,500
Southwark Music
1,500
1,500
Echoes of Hope
1,500
1,500
Goose Green Primary School
1,500
-
Skills Development Training
1,500
-
St Giles Trust
1,500
-
Camelot Primary School
1,500
-
The Rodolfus Foundation
1,400
1,400
Living Bankside
1,350
1,350
Calvary Temple United Church
1,340
1,340
Bizzie Bodies
1,270
1,270
Guardians Worldwide
1,224
1,224
Bradfield Youth Club
1,104
1,104
Dream Believe Achieve
1,008
1,008
Climate Ed
1,008
1,008
Charles Dickens Primary School
Charter School East Dulwich
Charter School North Dulwich
Bede House Association
Spring Community Hub
ONG Africa Association
Crampton Primary School
The Access Project
107,990
91,950
55,791
51,973
Other grants to organisations &
individuals - Group 116, Charity 113
163,781
143,923
(10,179)
(10,179)
Less: Cancellations
153,602
133,744
Total net grants		 Group
Charity
Y/e 31/08/24
Y/e 31/08/24
£
£
5,190
-
3,000
3,000
3,000
3,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
-
1,950
1,950
1,920
1,920
1,800
1,800
1,750
1,750
1,750
1,750
1,750
1,750
1,750
1,750
1,750
1,750
1,725
1,725
1,692
1,692
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,500
1,485
1,485
1,440
1,440
1,440
1,440
1,440
1,440
1,440
1,440
1,332
1,332
1,250
-
1,056
1,056
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
-
1,000
-
1,000
-
101,910
90,470
27,088
23,245
128,998
113,715
(4,329)
(3,329)
124,669
110,386