Charity No: 525753 THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024
THE THOIIIAS HOWELL'S EDUCATION FUND FOR NORTH WALES CONTENTS Page Report of the TtlLStee Independent auditors. report 7-10 Statement of financial activities Balance sheet 12 Notes to the financial statements 13-20 Appendlx A Reference & Adminislralive inforniation Apptndly B Mewnbers ofThe Drapers, Company Court of Assistants and Standing Committees Appendlx C Charities Administered by The Drdpers, Company Appendix F Members of the Grant-making Panel of Thomas Howell's Education Fund for North Wales
THE THOlldAS HOWELL'S EDUCATION FUND FOR NORTH WALES REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 The Trustee presents its Report togcther with the Financial statem15 of The Thoma5 Howell's Edu¢ation Fund for North Wales ('Ihe Charity") for the ycar cnded 31 July 20?4. The Financial Stalemenls have been prepared in accordance with the accounting poli¢i¢s set out in Note I to the Financial Slalements and comply with the Charilics Act 201 l. Accounting and Reporting by Charities.. Statem¢ni of Rewmmcndcd Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland, and the documents goveming ihe constitution of the Charity. Reference and kdmlnlstratlve information The legal and administrative details set out in App¢ndi¢es A to C and F forni part of this Report. Strncturey governance management Ori¥in The Charity is governed by a Charity Commission Scheme dated I l AUgt 2000. The Charity has its origins in th¢ Will of Thomas Howell who died around 1539. The original bequesi providcd for orphan girls. Over the year5 this was extended to eneL)mpass th¢ esiablishmenl, rnainlenance and benefit of girls, SLhools in Wales including Howell's School, Denbigh. In 1975, The Foundaiion of Howell's School, Denbigh, was established as a separate charity (o govem the School. Following the sale of the School in 1997 10 14owell's 2000 Limited, both the name and objects of the Charity were updated to their currcni form by the Scheme issued on I l August 2000. Following thc closure of Howell's School. Denbi8h in 2013, four restricted funds {How¢ll's School Prize rund Trusi, Howell's School Special Grdnts Fund, Mary Br¢arley Miisic fund and Ranjit Singh Trav¢lling Scholarship Fund) whose bcneficiaries were pupils at the school were, with the approval of the Charity Commission, wound up and their assets transferred ta bc used for the chaTlty's general purposes. GoFYrnone* (4ndmtsnaxemen¢ The Charity uses The Drapers, Company for ihe pruvision of administration servi¢es. which are provided on shared basis wilh other charities und¢r Common tTUStccship ot the Company. Additional administrative serviLes ar¢ provided to thc granl-making panel by a part-time Administrator who is based in North Wales. The Charity is a participani in l-he Drapers, Charities Pooling Schem¢ and receive5 income from Thomas Howell's Trust boih of which are administered by The Drapers, Compony. The DTapers' Company is the Charity's Trustee and acts through its Court of Assistants {"the Court"), which meets at leasl six times a year, agrees overall strategy and takes all policy decisions. These poli¢ies are developed and refined by three Standing Committees which uversee grant allocation. fin¥4nce and investment% respectively, and once decisions have been taken and raiified they are implemented by thc CoTnpany's OfficeTS. The operation of the Committees is reviewcd annually by the Court for effe¢tiv¢n¢ss against the overdll aims and objective5 of thc Company and its Charities. Th¢ Court takes decisions on th¢ award of grdnts above £50.000. The TNstee dclegates authority for the award of gran15 UP to £50,000 and the implementation of the agreed grant-making policy io the Charities Committee. The Committee membership is drawn from the Coiirt and oiher memb¢rs of the Company. Composition of Ihe Committee is reviewed and confirnied each year. The Committee, which tneets fJv¢ time5 a year. has clearly defined tenns of reference. Page I
THE THOMAS HOWELL'S EDUCATION FUND FOR INORTH WALES REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Governortee and man47gement (continued) Each year the Court nomially elects al least one new member from the Company membership who is given specific training on trustee duties and obligations by the Cornpany's Officers and external provider5 before taking up their position. In addition, all members of the Court receive regular and ongoing trustec training in relevant areas. To enable cffe¢tiv¢ and efficient grant-making in support of education in North Wales, the Trustee establishe a STnall Grant-making Panel of local people willi relevant expertise and experience. chaired by a member of the Court. The Panel mccls three times a year to review and assess grdnt applications on behalf of the TNsl¢e, reponing to the Charities Committee. The Panel may approve individual awards up to a mlMUM value of £20,000. Grants in ex¢¢ss of this sum are 5ubje¢t io the approval of the Chariti¢s Committee or the Court depeT)deni upon the size of the grant. Key monagementpersonnel remunertslion The Trustee Considers the members of the Court tmstee and iogeiher with the members of the Charities Committee and Grant-Makin8 Panel, who have limited and clearly defined terms of reference, comprise the key management personnel of the Chariry in charge of dIr¢rtin and controlling the Charity and overseeing the running and operating of the Charity on a day-to-day basis. The members of the Court, in their ¢8CIty as Tntte, give iheir time fr¢¢ly and no trustee remun¢ration wa5 paid in th¢ year. Tw51ce5 are required to disclose all relevant interests alld register them with the Director of Philanlhrupy & GovernanLe and in accordance with the Charily's policy withdraw Irorn decisions where a contli¢t of interest arises. Neith¢r Ihc Charity nor any of the members of the Court, as Trustee, have inlcre5t5 wilh beneliciary charities, but any such interests would be disclosed. Risk mdmagttmenl The principal risks faced by the Charity Loncem the performance of its investments and the ¢apACity of the Trust to make approprial¢ and effectivc grants. Th¢ Tmstee mili¥ate5 the investment risk through the regular review of invesiment strategy and portfolio perfomiance by the Investment Committee and professional advisors. The Common Investment Fund (The Drapcr5' Charities Pooling ScheJn¢) in which the Chl's assets are invested also assists in spreading the risk. The capacity of the Charity lo make appropriate and effective grants is enhanced by the Grant-making Panel which include5 memb¢rs directly involved in primary, secondary and higher education provisiotl in the area of benefit. In addition. the skills and experience of the Charities Committee, lo whom the Grant-making pae] reports, and the Court together with well-defined terms of r¢ference reduces the risk of ineftective grant-rnaking. Sialement ol¢ru.Ttee re5pDnsibililies The Trusle¢ is responsible for preparing the Trustee's Report and the financial slaiemcnts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 2
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES REPORT OF THE TRUSTEE FOR THF. YEAR ENDED JI JULY 2024 Statement oflrxYl¢e responsibilities (continued) The law applicable to charities in England & Wale5 rcquires the Truslee to prepare financial statem¢nts for each linancial y¢ar which give a tNe and fair view of Ihe slate of affairs of the Charity and of the incoming rcsources and appli¢ation of resources of the Charity for that period. In preparing these financial slatements. the Trustee is required to.. select suitable accounting poli¢i¢s and then apply them consisiently. obSee the methods and principles in the Charities SORP ff RS 102) make judgements and cstimates that are rwonable 2nd prudent. state whether applicable accounting standards have been followed. subject to any material departures disclosed Bnd cxplained in the financial statements,. prepare the financial Statements on the going ¢on¢em basis unless it is inappropriate to presume that the Charity will continue in business. The TnJsi¢c is resptsnsible for keeping accounting record5 which disclose with r¢asonabl¢ accuracy at any time the financial position of the Charity and ¢nabl¢ il lo ensure that the financial statements comply with rhe Charities Act 201 I, the Charity (ALcount5 and Reports) Regulalions 2008 and the provisions of the tNst deed. The TIu5tee is a150 responsible for safeguarding (he assets of the Charity and hence for taking reasonable steps for the prevention and detection of frnud and other irregularitie5. In the opinion of the Trustee the Charity is adequately resourced to continue to benefit those in need of assistance, in accordance with its objects. Th¢ financial statements have been prepared on a going concern ba515. Objective5 and #¢livili£s for the public beneflt Tlie object of The Thomas Howell'5 Education Fund for North Wales is to promote the education of young people under the a£e of25 who are resident in or und¢rgoing edu¢aiion in the area of benefit in such ways as the Trustee decides. l-he area of benefit is Norrh Wales which the Trusiee detines as being fornied by the six Districts of Anglesey, Conwy, Denbigh5hire. Flintshire, GYncdd and Witxharn. The Chariry aims 10 5UPPOrt a broad ranBe of ¢du¢alional inilialives within the area of benefit by the award of grants to institution5 and organisations. It strives to inLrease 5tudcnt inclusiveness across primary. secondary, rther and higher education, particularly in arcas of Iiigh deprivation. The obje¢tives for the year are shaped by these aiTnS With a view to dislributing available income in an efficient and effective way in order to m8ximise the educational benefit to young people. rhe Trustee has complied with th¢ Charities Act 2011, having due regard for the Charily Commission's guidance on public benefit when reviewing the Charily's aims and objectives. s¢ttinE the gran¢-making pulicy and in awarding grants. Grunl-makingpuliLy Thc Thomas Howell's Education Fund for North Wales invites applications for ndIng frorn institutions in the most marginaliscd areas oif North Wales by using th¢ knowledge and expertise of Panel menibers to target those most in need. li welcome5 unsolicited appeals from organi5ations and institutions whose projects or initiatives meet the policy guidelincs. Grants awarded are either one-off paym¢nts or recurring grants for up to three years subject lo specific perforn)ancc conditions. Furth¢r appeals from organisations will not nOrr]Y be considered for three y¢ar5 from the date of the linal grdnt award. Regular contact is maintained with recipients of grants, itlcluding an arUal evaluation report, for monitoring purposes. Details of the poli¢y guidelines and th¢ application procedure are available on the Company's website. Page 3
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Grnmtamakingpolicy (continued) The following policy guidelincs are set by the Trustec for the award of grdnts: Grants will nonnally be made to schi)ols. instilutions and organi5ation4 not to individuals. Grants will usually be directed towards the public sector of education. although particularly dcscrvin8 ases within the private sector miy also be supported. Small capital projects that enhance education or enrich the leaming experience of pupils and students are supported. Funding will be provide for projects that m&ke th¢ most of the outslanding North Wales countryside, build leadership and personal qualitie5 and raise environmental awareness. Grdnts can be used to fill gaps in educational provision or resources that are noi eligible for funding by the Local Education Authorily or other public body. Grants can be used to enrich the leaming experience of pupils who need encouragement. Grants can be used io SUPFOrt initiatives that broaden pcrspectivc on subjects taught at secondary school. Grnnts are provided lo impruve literacy and numeracy al primary School. Grants Can be used to broaden the horizons of young people within their local communities. 10 Initiatives to improve school 8ov¢manLe may be supported. Achlevements *nd performance Grants totalling £320,437 were distributed from unr¢stricted funds lo 52 organisations and institionS during the year frorn The Tliom&s Howell's Edu¢ation Fund for North Wales. Of the 52 rantS awarded. 36 grdnts totalling £203,367 were to primary, secondary or sp¢Lidl sChIS to support pupils in disadvaniaged cornmunilies. Th¢se award5 included 19 grants tolalling £106,612. mainly to primary schools. to create or develop existing outdoor l¢arning areas, to enhanr¢ facilities for outdoor learnin¥ opponunilies, to Provide a range of outdoor play cquipment or for the development of forest 5choDI provision, n8tur¢ gardens or other Ereen areas within schiM)I grounds. Granls werc also provided towards small capital projects and to support curriculum extension programmes and oth¢r education initiativ¢s which presented pupils with opportunities io take part in activili¢s which would normally be beyond the m¢ans of the schi)ol and contributed to the personal d¢v¢lupment of pupils or enriched their Icamin£ exp¢rience. These included grdnts to three secondary schools in Denbighshire. Conwy and Gwyncdd to create an achiev¢Thent ¢¢ntre for disengag¢d pupils, a wellbeing room, and towards the provision of science and technology ¢quipment. Grdnts were also provided to eight primary schools to provide LEGO Spike kits and other resources to develop pupils, programming skills. Two grants to primary schools supported the purchase of b(K)ks and other resources to iwnpiove the literacy of pupils. A grant of £IO.000 was provided to the Brilliant Club towards its Scholars Programme in North Wales state schoo15 to inspire and support students to access the most competitive universities. Dangerpoint, which teaches ¢hildren to spot dang¢r inside and outside the home, received the final of three annual grants of £IO,(K)O to deliver safety education visits to local children. Grants werc also provided towards woodworking equipment to develop pupils, practica] Skills, to support a bilingual Storytelling project at primary schools across North Wales and to promote the leaming of STEM subjects. Page 4
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 A¢hievements and performanee (eontd) A block grant of £30,01)O was awarded to Wrexham University which was used to make small grnnts to individual students in th¢ir first year of study mainly for Course equipment and trdvel ¢osts. This provcd to be the most efficient and effective means of providing financial assistance to a large number of students experiencing financial hardship. Opportuniiies for young people. particularly those from disadvantaged backgrounds, to dcvclop their musical or artistic education and ialeni were supwrted by a number ol- grants. Sisiema Codi'r To was awarded £10,000 to support music lessons and rcsident musicians for pupils ai two PTimary schools in Caemarfon and Bangor. The Aloud Charity received a granl of £1 0.000 towards Ihe Only Boy5 Aloud choirs across North Wales. The Benedetti Foundation received £5,000 towards a five-day music rcsidency with young people from Flintshire to inspire young musicians. OPRA Cyrmu Cyf, a We15h medium opera company, was awarded £5,150 towards lis workshops with local schools. Ty Pawb, a community resour¢e in Wr¢xham which provides a creative space for ¢Tnerging and established artists from all backgrounds, received £7.320 for it5 project to enable local young people to cr¢ale an original work of art with a world leading artist. Grants were also provided to charities delivering youth work. particularly to local young people who are not in ¢du¢alion, employment or trdining or lo organisations or which build leadership and personal qlialiti of young people IhTough oU00r education aciivities. Two grants totalling £3,295 were returned during the y¢Èr as ihe CL)nditions under which rhe gran15 were awarded could no longer be met. Financial Review Total inroniin8 resources increased sliEhtly from £346,226 to £351,714. Govemance costs were £6,713 (2022123: £5,924). Expenditure on charirable aciivities decreased from £397,272 to £342,689 reflecting a reduction in the level of grants awarded from unresiricted funds from £374,347 to £317.142. Nel incoming resources trom unr¢stri¢ted funds of £9,025 r¢suli¢d in a year end balance on unrestri¢t¢d fund5 increasing to £291,403. Inwestment Pnlicy undPerformonee There are no restrictions un the C]rity,5 power to invest. The investment objective of the Trustee is lo combine income and capital growth in a conservative mann¢r. In keeping with thi5 aim, the Trusiee regularly reviews the allocation of investment assets of those ch&rities for which it has responsibility. The Charity's investments a¢ 31 July 2024 consist of holdings in The DraTKrs' Charities Pooling Schem¢ (Registered Charity Number 1061675). The Trustce does not take any specific social, environmentsl or ethical ¢onsiderdtior whcn carrying out ihe invcstm¢nt objective. Reserves The Trustee r¢views the reserve5 policy on Bn annua] basis. Trustee h&8 considered the level of general free reserves which are appropriate for the Charity and will hold the minimum unrestricted reserve nccessary to fund working capital requirements. This is noi expected to exceed l O°/u of the Charity's unrestricied income. Unrestricted reserves at ihe year end were £291,403 and theretore in excess ()I' thi5 policy. Thi5 Charity will expend surplus unrestricted reserves over the medsum t¢rm until the minimum level is rea¢hed. Pl)Ins for future periods The grdnt-making policy remain5 a5 Set oul in this Report. The Trustee, through the Grant-making Panel, will onlinue to carefully Moni¢or and evaluate grants awarded io ensure effective support for a wide range of educational institutions and organisations in th¢ area of benefit. Page S
THE THOMAS HOWELL'S EDUCATION FUIW FOR NORTH WALES REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Signed for and on behalf of The Drapers, Company as Trustee M&8ter ChaiTman, Finan¢¢ and General Purp05e5 Committee Clerk 12 December 2024 Page 6
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES INDEPENDENT AUDITORS. REPORT TO THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Opinio We have audited the finaticial statements of Thomas Howell's Education Fund for North Wales for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet. and ihe notcs lo the financial statements. including significant accounting policies. The financial reporting framework that has been applied th¢iT preparation is applicable law and Unit¢d Kingdom Accounting Standards, including Financial Reporting Standard 101 the Financial Reporting Standard applicable in the UK and Republic of Ircland (United Kingdom Generally A¢cepied Accounting Practice). In our opinion the financial statements.. givc a true and fair view ol. the stat¢ of the ¢haTity's affairs as at 31 July 2024 and of its incoming resources and application of resources for the yeai. then ended; have been properly prepared in Accordance with United Kingdom Generally A¢pIed Accounting Pra¢lice', and have bccn prcpared in accordance with the requirements of the Charities Act 2011. BAS18 for opini We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fijrther d&8¢ribed in the Auditor's responsibilities for the audit of the financial statements section of our Teport. We are independent ot. the charity in accordance wilh the ethical requirements ihat w'e relevant lo our audit of the financial statements in the UK, including the FRC's Ethical Standai'd. and we hav¢ fvlfill¢d our other ethical responsibilities in accordance with thes¢ requirements. Wc believe that the audil evidcnc¢ we have obtained is sufficient and appropriare lo provide a basis for our opinion. Con<lusion8 relxtlng lo %oln% concern In auditing? the financial statements, wc have concluded that the trustee's use of the Boing concem basis of accounting in the preparation of the financial statements is appropriate. Bascd on the work we have perfomied, we have not identified any material uncenainiies relating lo cvenls or conditions that. individually or collectively, may cast significant doubt on th¢ ¢hariry'S ahility lo continue as a going concem for a period of at least twclve months from when the financial staletncnts are authori5ed for issue. Our responsibilities 8nd th¢ responsibilities of the trustee with respect to going concern are described in th¢ relevant sections of this report. Other informallon The tste¢ is responsible foT the other infomiation. The other information comprises the infomiation in¢lud¢d in the annual report, oth¢r than the financial statements and our auditor'5 report thereon. Our opinion on (he financial statements docs not cover the other infomiation and, exc¢pt to the extent otlierwise explicitly slated in our r¢port, we do not express any fomi of assurance ron¢lusion thereon. Oui" responsibility is to read the other information and, in doing so, consider whether the other infonnation is malerially in¢onsislent with the financial statements or our knowl¢dge obtained in the course of the audif or otherwise appears to be materially migslated. l( wc identify such material inconsistencies or apparent material misstatements, we are required to detemiine whethet this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfornied, we conclude that there is a material misstatement of this oiher information. we are required io report that fact. We hav¢ nothing lo rcport in thi5 regard. Page 7
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Matters on whieh we art requlred io report by exceptlon We have nothing to Tq)Ort in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 21KJ8 require us to report to you if, in our opinion- the informaiion given in the Report of the Trustce is inconsistent in any material respect with the financial slaiements. or thc charity h&s not kept sufficient accounting records. or the financial statements are not in agreement with the accounting records and retums. or we have nol received all the infomiation and explanations we require for our audit. Re5ponslbillties of trnstees As explained more fully in the Trustee's Responsibilities Siatement sel out on pages 2-3. the trustee is responsible for the preparation of the financial statements and for being satisfied thal they give a true and fair view, and for such internal Gontrol &s the trustee det¢rniines Is necessary to enable the prepAralion of financial statcrnenls that are free from maierial misstateTn¢nl, whether due to (raud or eJTOr. In preparing thc financial statemenis, the tnjstee 15 responsible for assessing ihe charity's ability to continue as a goin¥ ¢on¢ern. disclosin& a5 applicable, mattcrs related to going concern and using ihe guing? concern basis of accounting unless the trustee either intcnd5 10 liquidate the charity or to ce&se operalions, or has no realistic alternative but to do so. Audltur8' responslbilitles for th¢ Wudit of the fin4n¢ixl statement5 We have been appointed a5 auditors under Ihe Charities Act 201 l and report in accordance with r¢Bulation5 made under that Act. Our objeclives are lo obtain reasonabl¢ assurance aboui wheth¢i' the financial statements as a whole are free from matei'ial misststcment, whethei. due to fraud or eTTor, and to issue an audiiors, report that includes our opinion. Reasonable assurancc is a high level of a5suran¢e, but is noi a guarantee that an audit conducted in accurdance with ISAS (UK) will always detc¢i a material misslatemeiit when li exists. Misstatements Can arise from frnud or eTTor and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tak¢n on th¢ basis of thes¢ financial 5t&t¢ments. Irregularities, includirlg fraud, are instances of non-compliance with laws and regulations. We design pi'oredur¢s in line with our responsibilities, outlined above, ro detect material misstatement5 iii respect of irregularities. including frdud. The spccific procedures for this engagement and the extent to which those are capable of d¢le¢ting irregularities, including fraud #re detailed below. Identifying and assessing risks related lo irregularities: We a5ses5ed the susceptibility of the charity's financial statements lo material misstatement and how fraud might occur, including through discu5sion5 with representalives of the trustee, di5¢ussions Within our audit team planning meeting, updating our record of internil controls and ensuring these controls operated as intended. W¢ evaluated p055ible incentives and opportunities for fraudulent manipulation of the financial statements. We identili¢d laws and regulations that are of significance in the context of the ¢harily by discussions with repr¢s¢ntatives of th¢ Iru5tec and updating our understanding of the sector in whi¢h the charity operates. Page 8
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES INDEPENDEP4T AUDITORS, REPORT TO THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Laws and regulations of dire¢l significance in the conlext of the charity include the Charities Act 201 I, the ChariLies (Accounts and Reports) Regulations 2008 and guidance issued by the Chartty Commission for England and Wales. Audit response to risks identified.. We consid¢red the ext¢nl of Lompliance with these laws and regulations as part of our audit procedures on the related financial statcmcnt items including a review of financial slaiewnent disclosures. We review¢d the charily's rttords of brcaches of laws and regulation5, minutes of medings and correspondence with relevant authorities to identify potential materia] misstat¢ments arising. We discussed the ¢hariry'5 policies and procedures for compliance with laws and regulations wilh members of mana¥¢ment responsible for compliance. During the plartning meeting with the audit t¢am, the engagement partner drew attention to ihc key areas whirh might involve noii-¢ompliance with laws and regulation5 or fraud. We enquired of management whether they were aware of any instance5 of non.compliance wilh laws and regulations or knowledge of any actual, susp¢¢ted or alleged fraud. We addressed the risk of fraud through management override of contro15 by testing the approprial¢n¢5S Ot journal entries and identifying any significant transactions that were unSUal or outside the nomial course of business. We &ssessed whether judgements made in rnaking accoLinting estimai¢s gave rise to a possible indicalion of management bias. At the c4)mplction stage of the audii, the engagement partner's review inLluded ensuring that the Icam had approached their work with appropriate profe55ional scepticism and thu5 th¢ capacity to id¢nlify iion-compliance with laws and regulations and fraud. Ther¢ ar¢ inherent limitations in the audit procedures described above and th¢ fijrther removed non- compliance with law5 and regulations is from the events and Iransactions reflecled in the financial slaieTncnt5, (he less likely we wuuld become aware of IL Also, the risk of not delccling a material misstatement due to frnud is higher th ihe risk of not detecting one resulting fTOrn eOr, fraud may involve deliberat¢ concealment by, for exampl< forgery or intentional misrepr¢s¢ntalions, or through ¢ollusion. A further de5cripiion of our responsibilities is available on the Financial Reporting Cuuncil's webs'ite al.. wwii., li 'kiLL'>'. This description form5 part of our au(Litor's report. Use of our report This report is made solely lo the charity's Iruslee in accordance with Part 4 of ihe Charities (Account$ 8nd Reports) RegulE4tions 2008. Our audit work has been undertaken so that wc might stat¢ to the trustee those matters we are required to state to them IT) an auditor's report and for no uther purpose. To the fulles( extent perniirted by Saw, we do not accept or a55umc responsibility to anyone other ihan the charity and the tn[eeS as a body, for our audit work, for this report, or for the opinions w¢ have lormed. Page 9
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES INDEPENDENT AUDITORS? REPORT TO THE TRUSTEE FOR THE YEAR ENDED 31 JULY 2024 Ilb LLP Saffery LLP 71 Queen Victoria Stre¢l London EC4V 4BE Statutory Auditors Date.. 10.bw 20L5 Saff¢ry LLP is eligible lo as an auditor in lernis of section 1212 of the Compani¢5 Act 2006 Page 10
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALLS STATEMENT OF FINACIAL ACTivrriES FOR THE YEAR ENDED 31 JULY 2024 Unre8tritted Fund EndowThen¢ Fund Total 2023124 Totrtl 202Y25 Nott Ihcome ind endowmtnts from.. r)onalions and legacies nvcyltncnls 325.583 325.583 320,914 25,312 546,220 Total 351,714 351,714 ExpeThdilur¢ On: Ch8ri1abJe #elivitics 342.689 342.689 342,6¥9 342.689 397.272 397,272 Totll N¢1 invcsttnenl gains I Ilossc51 Jo 57.174 57.174 (21.425) N¢1 movtmtnl ITh fundx 9,025 57,174 66,199 {72,471) Bal8n¢cs at l Au8U81 282.37¥ 894.1(X) .176,478 1.248,949 Blllincei it 31 July 291.4QJ 951,274 ,242,677 1. 170.478 All of the above results derive from contiiiuing activities There are no other gains and losses other than those noted above. The noles on page 13 to 20 form p&rt of these financial stat¢m¢nts. Page 11
THE THOMAS HOWEIL'S EDUCATION FUND FOR NORTH WALES BALANCE SHEET AS AT 31 JULY 2024 31.07.24 31.07.23 Note Vixed assets Investments 951,274 894.100 Current assets Debtors Cash ai bank 103,583 210,976 101,913 182,058 314.559 283, 971 LIAblli¢les CTeditors.' amounts falling du¢ wirhin one year (23.156) (J,593) (23,156) (1,593)) Net current Assets 291,403 282,378 Total net asjets 10 ,242,677 1,176,478 Represented by: Capltal tunds Endowmvnt fwid ID 951,274 894.100 Income Funds Unrestricted Fund 10 291,403 282,378 1,242,677 1, 176,478 Approved by the Trustee on 12 December 2024 Signed for and on beh<' of The Drapers, Company as Trustee. Ma3teT Chairman, Finaiice General PurposC5 Committee Clerk The notes on pages 13 to 20 form part of these finan¢iai stateTnents. Page 12
THE THOMAS HOWELL'S EDUCATION FUIYD FOR NORTH WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Aceounting Poli¢1 Basis of preparntion The accounls have been prepattd under ihe historical cost convention, as Tnodified by the revaluition of certain fixed assel investments, and applicable accounting standards in the Unitcd Kingdom. The financial slalements have been prepared in a¢¢ordance with the Second ediiion of ihe SL71ement of Recommended Practice.. Accounting and Reportin¥ by Charities applicable in ihe UK and Republic of Ireland (FRS 1021 and the Financial Reporting Standard applicable in ihe United Kingdolli and Republic of Jreland {FRS 102) and the Charities Act 2011. The Charity constitutes a publi¢ benefit entity as defined by FRS 102. The financial 5tatement5 have been prepared lo give & 'ttue and fair. view and have departed from the Charities {Account5 and R¢ports) Regulations 2008 only io the extent required to provide a 'true and fair. view. This departure has involved followin& A¢¢ounting and Reporting by Charities preparing their accounts in accordance wilh The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) effective l January 2019 raiher than the Accounting and Reporting by Charities.. Statement of Eiecommended Prdctice eff¢¢tiv¢ from l April 2005 which has now been wiihdrawn. Golng concern The 'frustee considers that there are no material uncertainties atx)ut the C.harity's Abiliry 10 continue Bs a going Lon¢¢m. l-he most significant areas of adjustment and key assumptions that off¢¢r iiems in the accounls are to do with estimating the final quarter's dividen¢J income from the Charity's equity holdings in The Drapers, Charities Pooling Schemc. With respect to ih¢ nexi reporting period, 202 25, the most significant areas of uncertainty Ihar arrect the carrying value of assets hcld by ihe Charity are the level of invcstment retum and the p¢rlorrnan¢e of investment markets {s¢e the investment policy and performancc and risk management sections ul- the Trusiee's anni] r¢port for more infomulioii). Income All inLome is recu¥nis¢d once ihe Charity has entitlement to the incomc, il is probable that the income will be Teceived dnd the amount of in¢ome receivable can be measured reliably. VoluntAry Income Donations are recogiiised when the Charity has been notitied in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfom18n¢e before thc Charity is entitled io tlie fund5. the income 15 deferred and nol re¢ogni5ed until eitlier those conditions are fully met. or the fulfilment of those ¢onditions is wholly within the control of the Charity and it is probable that those conditions will be fuifill¢d in the reporting period. Investment income Interest on lunds held on deposit is includ¢d when receivable and the amount can be measured reliably by the Charity; this 15 nornially uwjn noiification of the interest paid or payable by the bank. Divid¢nds &re recogni5ed once the dividend has been declared and nolilicition has been received of the dividend due. This is nomially upon notification by our investment advisor of the dividend yield ofthe investment px)rtfolio. F.xpenditur¢ Liabililies are recognised as expenditu &8 soon a5 ihere 15 a legal or constru¢tive obligation committing the charity to that expenditure, it is probabl¢ that seiilement will be required and rhe amount of the obligation can be measured reliably. Page 13
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEARENDED 31 JULY 2024 Eypenditure (continued) All expenditure is accounted for on an accruals basis. All expenses including support costs and govemance costs are allocated or apportioned to the applicablc headings. The provision for a multi-year grant is recognised al its present Yaluc where settlement is due over more Ihart one year frorn the dale of the award, ther¢ are no unfulfilled perfomiancc conditions under the cotltrol of the Chariry that would pem)il ihc Charity to avoid making the payment(s), settleinent is prob2ble and the effect of discounting is Tnalerial. The discount rate used is the average r&te of investtnent yield in the year in which grant award is made. This discount rdte is regaTded by the Trustee as providing the most curreni available e5timat¢ of ihe opportunity Cost of money refl¢¢ting the lime value of money to the Charity. Investments Investment5 are a form of basic financial instrumenl rcpresenting shares in The Drapers, Charities Pooling Scheme and are iniiially recogni5ed at their trdnsaction value and subsequenily Ineasured at their fair value as at the balance sheet using lh¢ proportionate amount of net asset value of the Scheme pool as at 31 July 2024. The statement of financial activitics in¢ludes the net gains and losses arising on revaluaiion and disposals througlmlut the year. Th¢ Charity does not acquire put options. derivatives or other ¢omplex financial instruments. The Tn&in form of financial risk faced by the Charity 15 that of volalility in equity markets and investm¢nt markets due to wider economic conditions, the attitude of investors to invesunent risk, and changes in sentiment conreming equities and within particular sectors or sub-sectors. Funds The Charity mainlain5 Iwo types ol. fijnd.. Pemianent Endowment Fund where the capital is held in perpetuity to generate income for furtherance of the Charity's objects. Thi5 inLome and its applicatiL)n are accounted for in the Charity's unrestrlcted fund as there are no restriction on its use. Unrestricted Fund- where the fund is not restricted as to use, within the Chariiy's objects. Contingent liabllltles A conlingent liabiliry is identified and disrlus¢d for those grnnts resulting from.. possible obligation which will only be confimied by the occurrenre of one or rnor¢ uncertain future events not wholly within the Trusiee's control,. or pre5cnt Obligation following a grant offer wh¢re settlement is either not considered probable. or the amount has not been communicated in the grant offer and that amount cannot bc estimated reliably Crltical accovntlng Judgements and key sources of e3timatlon uncertainty In the application of the charity's accounting policies, the truslees are required to make judgements, estimates and assurnplions about the carrying amount of asseis and liabilities that are not readily apparent from other sources. The e51imates and a55oriated assumptions are based on historic&1 experience and other factors that ae considered to be relevant. Actual results may differ from these estimates. Page 14
THE THOMAS HOWELL'S EDUCATIOPI FUI¥D FOR NORTH WALKS NOTES TO THE FINANCIAL ST ATKMENTS FOR THE YEAR ENDED 31 JULY 2024 Critical 4CCOUhtingjudgements' andkey Sourc of*$iimalion uneerlainty (coniinued) The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are re¢ogni5ed in the period in which the estimate is revised whcTC the revision affects only that period, or in the period of the r¢vi$ion and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty Unlisted investments- based on the Share of the net &8sets of the Pooling Scheme. Donations Total 2023124 Tolal 2022/23 Income allocation from Thomas Howell's Trust Donation from The Drapers, Company 303,583 22,000 301.914 19.000 325,583 320,9J4 Investment income Tot41 2023124 Tohil 2022123 Dividends receivable trom.. The Dr8p¢rs' Charities Pooling Scheme Inleresl r¢¢¢ivable 25,312 819 25,312 26,131 25,312 All investment income is unrestricted. Page 15
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR KNDED 31 JULY 2024 Charitable activities: Ctsgl of grnnts awarded 2023n4 2022n3 Gr•Thts gwarded from Unrestrtcted Funds: Wrexham University Ysgol Dinas Bran St Mary's Primary School, Brymbo Ysgol Gynradd Rhosneigr Chloe's and Sophie's Special E8rs Fund Dangerpoint Codi'r To S¢ Mary's Primary School. Nercwys The Aloud Charity The Brilliant Club The Venture Ysgol Llanfawr Borr&8 Park Primary School Wrexham Sounds Ysgol Eitionydd Ysgol y Par¢ Infant School Ty Pawb Ysgol y Tywyn Panathlo Royal Welsh Fusiliers Museut Ysgol Foel Gron Ysgol Gynradd Amlwch OPRA Cymru Conwy Arts Trust The Benedetti Foundation The Rofft School The Welsh National Opera Ysgol Pen Barras Sandycroft Primary School Ysgol Ardudwy Y5gol Cacrgybi Ysgol JDhn Bright Alexandra Primary S¢h(K)I Ysgol Cystennin Ysgol Pen y Bryn Acton Park Primary School Ysgol Edem Ffederasiwn Talaerau Ysgol Trefnant Plas Denven Brynteg Primary School Gweisyllt Primary School St Mary'5 Primary S¢hool Ysgol Hcnblas Ysgol Gynradd E5ceifiog Total cfwd 30,000 1,170 10,330 10,325 10.000 10.000 10,000 10,000 10,000 10,000 10,0 10,000 9,990 9.700 8.800 .500 7.320 6,800 6,5QO 6,000 5.250 5,200 5,150 5,000 5,000 s,000 5,000 5.000 4,800 4,500 4,500 4.420 4,0 4.IM)O 4.(X>O 3.800 3,760 3,560 3.500 3,365 3,330 3,000 2,800 2,590 Jo,000 8.985 Jo.0(10 9,520 JO,300 5,000 4,500 6.400 308,437 84, 705 P8g¢ 16
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES NOTES TO THE FJNANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Balance bfwd Grwp Cymunedol Caru Amlwch Ysgol Gynradd Ncfyn Ysgol Gymdd Llanrug Ysgol Llanllyfni Clwyd and Gwynedd ACF Royal Welsh College Ysgol Ein Harglwyddes Other awards Less: grants returned Total from Unreserlcted Funds 308.437 2,400 2,400 2,000 1,800 1,200 1,200 1,000 84. 705 305,891 (10,249) 374,347 (3.295) 317,142 Support CiYJls (Allocated to unrestrlcted funds) ManaEemcnt Costs Administration Office Finance Costs.. AdTninistration OJTice G•v¢rnAnce costs (see Note S) 6,383 3,034 6,383 3,034 5, 921 2,58Q 5, 921 2,579 342,089 397.272 Charltable activltles: Governanee costs 2023124 2022/23 Administration staff Costs Office costs Audit fees 3,194 1.516 2, 962 1,290 1,072 5,924 6,713 The average number of employ¢¢s during the year was 2 (2023.. 2) with ail employee time involved in providing Clther 6UPPOrt lo the governance of the charity or support services to charitable activili¢s. The Charity considers i(s key management personnel ¢omprise the members of the Court of Assistants iogeiher with the members of the Charitics Committee, who have limiied and clearly defined term of reference. The total employment benefils including employer pension contribution5 Qt the key managetnent pcrsonnel were £0 {2023.. £0). No ¢mployees had employee benefits in excess of £60,000 (2023.. none}. Investments TotAI 21Y23124 Trtal 202%23 Market value at l August Acquisitions Net investment gainlI0$s¢S) 894.100 915.525 57,174 (21.425) Market V8lue &t 31 July 951,274 &94.100 Historital cost it 31 July All investment assets are held within the United Kingdotn. 143,148 143.148 Page 17
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y 2024 Debtors 31.07.24 31.07.23 Amount du¢ from Thoma5 Howell's Trust 103 583 IOJ,913 JOI. 913 103,583 Credltors: Amounts falling due withln one y¢ar 31.07.24 31.07.23 Sundry ¢r¢ditors Grants payable 1.836 1,593 23,156 2,593 Analysls of total net assets Unrestrleted FuDd8 Endowment Fund Tol*l 31.07.24 The Drdpers, Chariti¢5 Pooling Scheme Totsl investments 951,274 951,274 951,274 951,274 Nei current assets 291,403 291,403 Tot81 net isyet8 291,403 951,274 1.242,677 Urtricted Endowment Fthnd Fund Totsl 31.07.23 The Drapers, Charities Pooling S¢h¢me Total investments 894,100 894,100 894,100 894,100 Net CUTr¢nt assets 282,378 282.378 Total n¢t assets 282,378 894.10 .176.47 Page 18
THE THOMAS HOWELL?S EDUCATION FUND FOR NORTH WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 io Funds Movement8 of Funds Openlng BlAnce C1081ng Balance 31.07.24 Resourtes expended GAlnl {lo&seJ) 01.0&23 resourt¢s Transfers Etydowm¢nt Fund PeTm4nent Endowtncnl Fund 894,100 894,100 57,174 57.174 951,274 951.274 Unreslrlcltd Fund 282.378 351,714 1342,689) 291,403 Total funds 1,176,478 351.714 13416891 57,174 1,242,677 Movtments ofFund$ Openlng Blnte 01.0&22 Clojlng Jncomln¥ resources Re$our¢e$ expended Galnl Ilu$$e$l Trnsfers 31.07.23 Tr.ndowment Tr'und Pem4ntnt Endowncni Trund 915,525 915,52S {21.4251 {21.4251 1194.1(M) 894.100 Lnrestricttd Fund 333.424 346226 1397.2721 282,378 Total fun 1.241,949 346226 1397.2721 121.4251 1,176,47R Tran3&Ctions with related partie5 During the year, the Trustee of the Chari(y* The Drapers, Company, acted TTUStee for six her charities, d¢l&ils of which are provided in Appendix C to the fruste¢s Report. The Ch&ity is a bei)eficiary of one of these six charities, Thomas Howell's Trust, receiving a prescribed percentage of the available annual income of that Charity. detai15 of which ar¢ shown in Notes 2 and 7. D¢tai15 Qt dividend in1n¢ reccived from The Drap¢r5' Charitie5 Pooling SchEm¢ is shown in Note 3. The Charity also received a donation from the Drap¢rs' Company details are shown in Note 2. 12 Tru51ee remun¢ratloD The members of the Drapers, Company Court of Assi5taT)t& as Trustee, give freely their time and expcrtise without any fomi of remuneration or oiher ba)efii in cash or kind, or the reimburs¢m¢nt of any expEnses by the Charity (2023: £nil). Page 19
THE THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 JULY 2024 13. Prlor ye4r SOFA Unre5tr1eied Fund Endowment Fund Total 2023 Jneome and endoTHments from: Don4rioTL% 4nd l¢gacies Investsnent 320.914 25,312 320,914 25.312 Tot*1 346,226 346.226 EipeNditurt on.. Charitsble adivities 397.272 397,272 Total 397,272 397,272 Nei inveskncnt gAillslllowsl 121,4251 (21,4251 NEt movemrni In 151.0461 121.4251 172.4711 Bal8nces 81 I Au8U51 333.424 915.525 .248.949 Bilinces #t 31 July 282,378 894.11)rJ 176,478 Pag¢ 20
APPENDIX A REFERENCE AND ADMINISTRATXVE INFORMATION Trustee Thc Drapers, Company Priueipal office Drapers, Hall Throgmorton Avenue Londo EC2N 2DQ Court of Assistants Nicholas Ben¢e-Trower David Ch81k William Chamley Jane Mather Philp Ogden Timothy Orchard Thomas Harris Stuarl Shilson Patrick Beddows Philip LaOrd Morng Shiach Timothy Page Richard Horner Luke Savage Andrew Ford Ncil Redcliffe Benedict Dunhill Offl¢ers Richard Winstanley (Clerk) David SumneT (Dir¢Ltor of Finance) Andrew Mellows (Director of Philanihropy)
APPENDIX A REFERENCE AND ADMINISTRATtVE INFORMATION (continued) Almshouse Managers The Trust Partnership Ltd 6 Trull Farm Buildings Tetbury GIL)ucestershir¢ GL8 8SQ Auditors Saffery LLP 71 Queen Victoria Street London EC4V 4BE Bankers Lloyds TSB PIC 70-71 Che&psid¢ London EC2V 6EN Investment Advisors Red]non Floor 6 l Angel Court London EC2R 7HJ Property VAluers Krlight Frank 20 Hanover Square London WIROAH Scrurltlu Custodlan RBC Investor & Treasury Services 71 Queen Victoria Sireet London EC4V 4DE Solicitors BDB Pitma% LLP 50 Broadway Westminsl¢r London SWIHOBL Surveyors Epic Property Asset Managemem Ltd 3 Burlington Gardens Londotl WIS3EP
APPENDIX A REFERENCE AND ADMINISTIL4TIVE INFORMATION (continued) GOVERNANCE Th¢ Drapers, Company is the Trustee and acts through its Court of Assistants ("the Court"), which meets at least six times a year and thkes all policy decision5. Tlwee Standing Committees oversee grani allocation. finance, and investments respectively while the njnning of the Almshouses is overs¢¢n by the Court of Wardens. Further details are given below. Appendix B lists Members of the Court and the Standing Committees. The Court acts as the main Board of Trustees, setting policy guidelines, approving Financial Statements, budgets and major investment decisions. D¢iail¢d work is handlcd by the CoTnpany's Standing Committees and the Court of Wardens. The Investment5 Committee, the Court of Wardens and the Finance and General Purposes Committee usually mcet between five alld ten times 8 year, according to need. whilst the Charities Committee. which is responsible lor thc allocation of grants, meets five times a year. Once decisions have been taken and, if necessary, amended or fdtified by the Court, they are irnpleTncnled by the Company's Officers The operation of the Committees is reviewed annually by the Court for effectivencss against the overall aims and objectives of ihe Company and its Charities. Each year the Court elects al least one TJ¢W member from the Company m¢mtrtrship and they are given specific training on trustee duties and obligalions by ihe Company's OtTi¢ers aiid external providers before taking up their position. In addition, all members of the Court receive regular and ongoing trustee trdining in relevant areas.
APPENDIX A REFERENCE AND ADMINISTRATIVE INFORMATION (continued) APPLICABLE COMMITTEE AND COURT TERMS OF REFERENCE Court of Warden5 To oversee the day to day management of the almshouse Charities other than any financial or strategic aspects relating io the almshous&s dealt with by the Finance and General Purposes Committee. Investments Committee To determine investment strategy for the Charities and to monitor and oversee the management of inveslments including property, equities. Ix)nds. cash and other cl&8ses of investment. To make recommendations lo the Court as to the alltIon of a55ets among differ¢nt clgsses of investments having regard to risk diversification and where applicable besi practice for charities. To keep the rfOrmance of the Charities, invesknent advisors under review hnd to make recommendations to the Court on their appointment, lenns of reference and fee5, Without detracting from the Tesponsibilitie5 delegated lo the Clerk. To examine the performance of the Charities, inv¢stm¢nts al intervals of not rnore than three months and lo Teport lo the Court. To approve all lettings, PUTchases and 5al¢s of investment property. renl revi¢ws and other properry transactions and to make re¢omrnendation5 to the Couri for approval of all substantial investment property transactions. To keep the condition of the Charities, investment properties under review. To ensure thai the Charities, investment properties are properly and adequately insured. Flnance and General Purpnses Commlttee To be the supervisory FK)dy for the financial str&legy and financial Control and keep the financial arrangemenrs of The Company under review, including the preparation and presentation of accounts and budgetsry control. 10 To prc5ent to the Court not later than iheir December meeting in ea¢h y¢8r ihc final audited Financial Statements and A¢count5 in respect of Charitics for the previous year ended the 31 July duly reviewed by the Chai'ities, Aiiditor5. To review and advise on the Charities. compliance with all legal, audit and regulalory requirements and best practice. 12 To ensure that risk asSessMts for the Charitie5 are duly carried out and that recommenda¢ioThs are implem¢nted. 13 To set the Charities, granl-making budgets in each Company Year, Subject to the approval of the Court and generally to review and advise on all matters relating to the financial strategy and financial arrang¢ments of the Charities.
APPENDIX A REFERENCE AND ADMINISTRATIVE INFORMATION (continued) APPLICABLE COMMirfEE AND COURT TERMS OF REFERENCE (continued) Charltlts Committs¢ 14 To keep the objects of each Charity under review and ensure that they are up to date and rel¢vant. 15 To review grant making policy (including themes for support) and procedure5 at least every three years and to make r¢cornmendation5 to the Court. 16 To review the provision, value and administration of Continuing grants (including block grants) at least every three years. 17 To manage the disbursement of all charitable monies and ensure that effe¢tiv¢ us¢ is mad¢ of charitable income. 18 To consider and approve any gran15 UP to £S0,OIKJ for each Charity and lo recommend to ihe Court any grants exceeding £50,IKH), provided that no grant shall be paid to the relevant beneficiary until the minute5 of the Charities Committee hav¢ been received by tlie Court. 19 To allocate charitable expenditure within the overall grant making budgets approved by the Court. 20 To receive reports on any grnnts mad¢ by the chairman under delegated authority. 21 To evaluate and monitor the effectiveness of all charitsble aclivities. 22 To oversee the work of the Thomas Howell Education Fund for North Wales (THEFNW) and the Govemors of Sir William Boreman Foundation.
APPENDIX B MEMBERSHIP OF STANDING COMtTTEES YEAR ENDED 31 JULY 2024 Court of Assistants Charltie5 Investment F&GP Nicholas Bence•Trower David Chalk William Charnl Jane Mather Phili Timoih Orchard Thomas Harris Sluaft Shilson PatriLk B¥ddows Phili Laord Mora Shiach Timoth P Richard Horner Luke Sava Andrew Ford Neil Redcliffe Benedict Dunhill AddltlonAI Commlltee Mcmbers lan Bickers Bhumbra Kaih¢rine Burns Patricia Gallan Michael Hu hes uentin Marshall Victoria Slia iro Graham Turnnck Andrew Youn er Llve men & Freemen Legend.. Chairman M = Member
APPENDIX C CHAIUTIES ADMINISTERED BY THE DRAPERS, COMPANY YEAR ENDED 31 JULY 2024 General Charltles The DrdFrs' Charitable Fund The DraFKrs' Charitie5 Pooling Scheme Alm$house Charlty The Drape¢s' Almshouse Charity EducAtIoD Ch8rltle$ Francis Bancroft's Trust Thomas Howell's TnLqt The Thom&8 Howell's Education Fund for North Wales Sir William Boreman's Foundation
APPENDIX F MEMBERS OF THE GRANT-MAKING PANEL OF THOMAS HOWELL'S EDUCATION FUND FOR NORTH WALES YEAR ENDED 31 JULY 2024 Philip Lawford * (Chairman) Emma Darke Tom Bonas Carol Tully Jayne Davies M]ne Pittaway Mark Hatch • Members of the Drapers, Company