Queen Elizabeth’s Foundation Registered Charity Number 526600 

Financial Statements 

31[st] December 2022 



Queen Elizabeths Foundation Index to Financial Statements 31[st] December 2022 

Trustees Annual Report Accountants Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 

Page 1 



Independent Accountants Report to the Trustees of Queen Elizabeths Trust for the Year Ended 31[st] December 2022. 

The Trustees are of the opinion that the charity is exempt from an Audit and our work has been undertaken so we might compile the Financial Statements we have been engaged to compile and report to the Trustees accordingly.  To the fullest extent permitted by law we do not accept or assume responsibility to anyone other than the Trustees, for our work or for this report. 

We have not been instructed to carry out an audit of the Financial Statements.  For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not express any opinion on the Financial Statements. 

Crossleys Accountants 27[th] September 2023 



Statement of Financial Activities for the Year ended 31[st] December 2022 

||Note|2022|2021|
|---|---|---|---|
|Income||||
|Brazenose College||5|5|
|Investment Income|2|43292|44858|
|Profit on Sale of||||
|Investment||-|-|
|||43297|44882|
|Expenditure||||
|Accountants Fee||1800|1774|
|Grants to Individuals||37565|36500|
|Grants to schools||-|700|
|General Expenses||597|507|
|Expenditure for the Year||39962|39481|
|Net Income (Expenditure)||3335|5401|
|Total funds brought forward||852220|846819|
|Total funds carried forward||855555|852220|



Page 2 



Queen Elizabeths Foundation 

Registered Charity Number 526600 

|Balance Sheet as at 31st|December 2022|||
|---|---|---|---|
|||2022|2021|
|Fixed Assets|Note 3|841740|841740|
|Current Assets||||
|Short Term Deposits||60|60|
|Bank||8808|12290|
|Current Liabilities||||
|Accruals||1870|1870|
|Net Current Assets||6998|10480|
|Net Assets||848738|852220|
|Capital Funds Permanent Endowment||200000|108426|
|Income Funds Unrestricted Funds||648738|734794|
|||848738|852220|



Approved by the Trustees and signed on their behalf by………………………………………..Trustee The notes on pages 4 to 6 form part of these accounts. 

Page 3 



Queen Elizabeths Foundation 

Notes forming part of the Financial Statements for the Year Ended 31[st] December 2022 

Note 1 Accounting Policies.  The Financial Statements have been prepared under the historical cost convention and in accordance with the Accounting and Reporting by Charities Statement of Recommended Practice (SORP 2005) and the Charities Act 1993. 

## Change in basis 

There has been no change in basis of Accounting from that adopted in 2021. 

## Income Resources 

Donations, Legacies and similar Incoming Resources 

These are included in the Statement of Financial Activities (SOFA) when: 

The Charity becomes entitled to the donation, legacy or similar income and any conditions for receipt are met. 

The Trustees are reasonably certain they will receive it and 

The Trustees are reasonably certain the value can be reliably measured. 

## Investment Income 

This and associated tax credits if any are included in the accounts when receivable 

## Liability Recognition 

Generally liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. 

Page 4 



## Queen Elizabeths Foundation 

Notes forming part of the Financial Statements for the year Ended 31[st] December 2022 (continued) 

## Note 2 

||2022|2021|
|---|---|---|
|Investment Income|||
|Income from COIF Charities Fund|34234|35554|
|Income from COIF Charities property fund|8993|9009|
|Miscellaneous Income|70|295|
||43297|44858|
|Note 3|||
|Fixed Asset Investment|||
|160591 Income Units in COIF|||
|Charities Property Fund|200000|200000|
|Income Units in COIF|||
|Charities Investment Fund|641740|641740|
|Historical Cost 31stDecember|841740|841740|
|Market Value 31stDecember<br>|1295486|1158196|



Note 4  A piece of land held by RMBC including access to allotments will be transferred to the trust for the benefit of its allotment users. 

Page 5 



## Queen Elizabeths Foundation 

Notes forming part of the Financial Statements for the Year Ended 31[st] December 2022. 

Note 6 

Creditors 

There were none owing over one year (2019 none) 

Note 7 

There were no related party transactions 

Note 8 

The Trustees make the following declarations: 

Change in the year end 

Note 9 

The Trustees have not changed the year end date nor the length of the Charity’s Financial Year 

Designated Funds 

## Note 10 

The Charity does not have any designated funds 

Discontinued, continuing and acquired operations 

All of the charity’s operations are continuing operations and there were no operations discontinued or acquired during the year. 

Subsidiaries 

The Charity has no subsidiary companies 

Note 11 

Valuations 

The market value of the Fixed assets has been shown in Note 3 of the Financial Statements, while uncapitalised fixed assets have been covered in Note 4 of the Financial Statements, these uncapitalised assets may have a material value. 

Page 6