THE EDUCATIONAL & GENERAL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EDUCATIONAL & GENERAL CHARITABLE TRUST I repjrt to the Trustees on my examination of the financial statements of The Educational & Gener81 Charitable Tmst (the charity) for the year ended 5 Aprtl 2024. Responsibilities and basls of report As the TTUStees of the charity you are rasponsible for the preparation of the financial stalements in accordance with the requirements of the Charities Act 2011 (the 2011 Acll. I report in respect of my examination of Ihe charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the 2011 Acl. Independent examiner's ststement I have completed my examination. I confimi that no matters have come lo my attention in connection wilh the examination giving me cause to believe that in any material respect: accountlng records were not kept in respect of the charity as required by section 130 of the 2011 Act., or Ihe financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set oul in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a tfue and fair view which is not a matter considered a5 part of an independent examination. I have no concems and have comè across no other matters in connection with the examination to which attention should be drawn in this report in orderto enable a proper underslanding of the financial statements to be reached. Susan Drummond For and on behalf of Rouse Partners LLP 55 Station Road Beaconsfield Buckinghamshire HP9 1QL Dated: 30-Sept-2024
Educational and General Charitable Trust- Charity No. 313117 th Annual Report from the trustees for the year ended 5 April 2024 The trustees present their annual report and financial statements for the charity for the year th ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts. Objectives and artivities for the public benefit The purpose of the trust is to use its funds for charitable activities associated with the advancement of education. It does this by making grants to other UK registered charities who in turn support charitable projects throughout the world. The trustees confirm that they have referred to the Charities Commission's guidance on public benefit when reviewing the Trust's aims and objective5, in planning future activities and establishing a policy for the year. The Trust furthers its charitable purposes for the public benefit through its grant policy which aims at: Funding innovative projects in the field of children's education. Funding projects in the field of protecting the environment and mitigating the impact of global warming. Funding projects in the field of overseas development and the relief of poverty. Grant policy The trust predominantly supports UK registered Charities who have an annual income of between £50,000 and £2m. Grants can be used for core, capital or project costs. The charity tries to support its chosen bodies over a number of years, but no commitment is made by the charity to this effect. A total of 22 grants were made totalling £114,000. The geographical spread by value of the grants made was as follows: UK & Europe Africa Asia Latin America 19Yo 47% 30% 4Yo Financial Review During the period grants were paid totalling £114,000. The expenditure exceeded the income by £10,414.
Investment policy and performance The trustees continue to pursue a largely ethical investment policy to ensure that there are no conflicts between the policy of the trust in making grants and its investments. It continues to move its investment strategy towards 'ethical' collective investments. The policy also th includes investing approx. IO% of the portfolio in fixed interest securities. As of 5 April, about 46Yo of the portfolio by value was invested in ethical holdings and we continue to work towards improving this percentage. Risk Management The principal riskfaced by theTrust lies in the performance of its investments and operational risk in effective grant making. The financial risk in the variability of investment returns is mitigated by retaining professional investment managers and having a well-diversified investment portfolio. Reserve Policy The trust currently has a negative accumulated income reserve of £13,349. Historically the trust had a policy to retain some income each year to maintain the real value of the Capital Fund in periods of high inflation. However, the current trustees have adopted a more aggressive policy of using all income to make grants and using some capital each year to boost grant donations. Structurei governance and management. The trust is a registered UK charity {no. 313117} and is constituted under a trust deed dated 20th June 1961. It was established by an initial gift from Lord John Diamond, followed by further gifts from him and his wife. The trust does not fundraise and seeks to continue the charitable work desired by the donor through careful stewardship of its existing resources. New trustees are appointed by the existing trustees and serve for an indefinite period. The trust deed provides for a minimum of three trustees and a maximum of five. The trustees hold an annual meeting where the trustees wi15 agree the broad strategy and areas of activity for the trust including deciding on grants, investment policy, reserves and risk management. The day-to-day administration and processing of potential future grants is delegated to Andrew Diamond (trusteel. No staff are employed, the management personnel of the trust are the board of trustees all who give their time freely. No trustee remuneration was paid. All trustees are required to disclose any relevant interests.
Reference and administrative information Trustees On 31 March 2022 Martin Diamond and Laura Diamond resigned as trustees. The Charity would like to thank them for their many years of contribution and efforts in building the trust to the position it now finds itself. Current Trustees: Andrew Diamond, Linda Mabley, Joan Diamond Principal Address: Stonesfield, Burtons Lane, Chalfont St Giles, Bucks HP8 4BL. Independent Examiner: Rouse Partner5 LLP, 55 Station Road, Beaconsfield, Bucks HP9 IQL Investment Manager: JM Finn, 25 Copthall Avenue, London EC2R 7AH Contact the Charity: go to www.educationalandgeneral.org Trustees, responsibilities In relation to the financial statements The Trustees are responsible for preparing the annual trustees report and financial statements in accordance with applicable law under UK accounting standards. The law requires the charity trustees provide a true and fair view of the state of affairs of the charity and of the income resources and application of those resources for that period. In preparing the financial Statement, the trustees are required to Select suitable accounting policies and then apply them consistently. Observe the methods and principals in the applicable Charities SORP. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, with any material departures disclosed and explained in the financial statements. Prepare financial statements on the going concern basis, The trustees are responsible for keeping accurate accounting records to enable them to ensure that the financial statements comply with the Charities Act 2011, and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detettion of fraud and other irregularities. Approved by the trustees
EDUCATIONAL AND GENEREAL CHARITABLE TRUST (CHARITY NO. 313117) srATEMENT of FINANCIAL AFFAIRS for the year ending 5th April 2024 signed by Andrew Diamond (Trusteel Note 2023-24 2022-23 INCOME Investment Income Dividends equities Interest - Fixed interest securities Interest on Cash 108,726 4,156 3,122 104,303 2,860 776 Donations - Est. Barbara Diamond 340 116,004 108.279 EXPENDITURE Investment managements fees IJM Finn) Accountancy Fees (Rouse Partners} Bank Charges Administation costs Grants made to Charities 10,618 1,800 11,067 1,800 120 141,000 114,000 126,418 153,987 Net Income / Expenditure -10,414 45,708 BALANCE SHEET as at 5th APRIL 2024 Fixed Assets Investments at JM Finn (market value} 3,698,881 3,628,142 Current Assets Cash held atJM Finn Deposit at Shared Interest {Account closed 2/11241 Cash at Co-operative Bank Cash at Natwest Bank- Current Cash at Natwest Bank - Busines5 Res. 60,014 115,099 10,517 17,610 2,420 15,065 160,711 12,610 7,154 15,657 95,435 Liabilities Net Current Assets 95,435 160,711 Net Assets 3,794.316 3,788,853 The Funds of the Charity Capital Fund Historical accumulated income 3,807,665 3,791,798 -13,349 -2,945 3.794,316 3,788,853
Notes to the Financial Statement for the year ended 5th April 2024 l. Accounting policies Going Concern - The financial statements are drawn up on the going concern basis which assumes that the Charitable Trust will continue in existence for the forseeable future. Basis of accounting- The financial statements have been prepared under the historical cost convention, except for investments which are included at market value, and in accordance with applicable UK accounting standards and with the requirements of the Statement of Recommended Practice ISORP 2005) and with the Charities Act 2011. Incoming Resources - All incoming resources are included in the Statement of financial activities on a received basis. Resources Expended - Expenditure is included on a accruals basis, inclusive of VAT, which 15 not recoverable. 2. Governance Costs There are no governance costs in the year 2023-24 as the trustees claimed no expenses. 3. Employees The trust has no employees.