## ## ## |Truste6|MrDJWalker| |---|---| ||MrsSFPeck| ||DrPJRoberts| ||Ms ABoardman| ||MrsHTrott| ||DrWPonsonby| ||MrJScott| ||MrT Keough| ||RevCHope| ||MrSHarwood| ||MrDHammond| |Charltynumber|5268/7| |Prlnclpaladdr€ss|C/O Keswick School| ||VicarageHill| ||Keswick| ||Cumbria| ||CA12 5QB| |lndependerlt examinel|Darren LittleFCA| ||Saint &CoChartered Accountants| ||TheOldPoliceStation| ||ChurchStreet| ||Ambleside| ||Cumbria| ||LA22OBT| |Bankers|HSBCBankPlc| ||29 EnglishStreet| ||Carlisle| ||Cumbria| ||cA38JX| |Sollchors|BrowneJacobson| ||14th Floor| ||IHardman Square| ||Spinningfields| ||Manchester| ||Lancashire| ||M33EB| |lnrr6tmentmanagels|James Brearley&Sons| ||WalpoleHouse| ||Unit2BurtonRoad| ||Blackpool| ||Lancashire| ||FY44NW| ## ## ||Page| |---|---| |Trustees'report|1-3| |Statement of trustees' responsibllities|4| |lndependent examiner'sreport|5| |Statement of financial activities|6-7| |Balancesheet|8| |Notestothe financial statements|9-77| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||r{o
P||F
11|l'-
0-|Bll|e-1
o10|sllBll|sllBll||||ool
(h
j|o
@o
F|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||E€='{
E5R||||.\
d|Iil
.1ll
."ll|@
O!
l'.|-ll|Ell||(\l
ao
a{|ui|@o
@
(tr|(h
o'
@|| ||||o!tE|||||||||||||| ||||E€S*
.|aEct|||o
or|o
orll|aoo
60
oo|3ll3ll||ioN||ID
ul|@'|a{N
(o
@
<,t|| ||||{,
c,||||tl|||||||||| ||||!.t2ts||F||F.|o|||||(|6|F|| ||||+?ao||ui||./i|F.|3ll||<||@|(h
r.l_|OEFlrl
J
ao|vt
EIE
F(,|ros
qq|o
P
E€*,..
E5R|||.\
oro
or||nll
o|<@
6(h
a{o
6_|Ell=ll
5ll-ll||or
|.\
@|@
.o|o)
o
@|(o
@'o
F
(h
ao|(h
o'
(o
(o
f\|| |E
OE
E
(J
ootlr)
ahYI
3
1r,
lrJ|Jg
Iz
z
l!
ltoFzlrl
=
ut
:<
Ftl|E
o
tarae
l{
E
T
l{rIqo\|o
!a
?€R'{
P l:Ct
L t6r
.,
c,
-.Erd
ta ccr
a,
cf||o|io'|3ll
-ll|.i.ri
ro
01
o|*ll
Bll|-ll|(h
o
ro
o
o)|6@
(h|dr
o
@||.\
@'
(h
|.\
(h|l.-ci
6(\l
or
N|(o| |||||oz|||||||||aa|||| ||||||.9
_9
..!E!!
EEE
:o:||g
E
q,
Eio
!lco
!
{!o
Eo
.E
P|..E
E>
o-fr
qrEii
iEor
.l:.i;
EPE|ca!!c
A
i
P|E
o
;o
o)
-9
'6
z|g
!E
o.
tu
Eo
E
!,z|1'
o
tt);
-cl
F|!,E
=c
c
a,
E
0,
9E
z|o
E=sa
t6
og
!6
EE
o!
ar5|cl
t
-
a,t!
-o
!E3|| ## ## ## |||2025||2024|| |---|---|---|---|---|---| ||Notes|E|f|2|E| |Flxed asseG|||||| |Tangibleassets|13||274,362||274,362| |lnvestments|t4||7,414,O20||t,478,677| ||||\624342||r,692,973| |Curentass€ts|||||| |Cashatbankand inhand||24,569||L7,242|| |creditoG:amountsfallingduewlthinoneyear15||{2,030)||(1,9ss)|| |,{etcurentassets|||22,539||$,247| |Total asse8lesscurtentliablllties|||1,650,921||\704,260| |Thefunds ofthetrun|||||| |Endowment funds|16||r,427,657||1,/l80,491| |Restrictedincome funds|tl||200,731||798,672| |Unrestricted funds|18||22,s39||29,O97| ||||r,650,921||1Joa,260| # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Unr6tricted|Unrestristed| |---|---|---| ||funds|funds| ||2025|2024| ||E|f| |Donationsandgifts|50|5,147| ||Restricted|Endowment|Total|Restricted|Endowment|Total| |---|---|---|---|---|---|---| ||funds|funds||funds|firnds|| ||2025|2025|2025|2024|2024|2024| ||t|E|E|t|E|f| |Dividendsand intereston
listed investments|6,433|37,553|43,986|il1|36,777|41,o47| ## ## ## ## ||Restrlcted|Endourment|Total|Re6tdcted|Endowmerlt|Toral| |---|---|---|---|---|---|---| ||funds|funds||funds|funds|| ||2025|2025|zo2s|2024|2024|2024| ||€|e|E|C|e|E| |lnvestment management
costs|1,115|8,774|j,'*|1,088|7,945|9,O73| ## ||TrustacttultlesTrun|activitiB| |---|---|---| ||2025|2024| ||e0.|| |Direct cosB||| |KeswickAcademy|87,839|11,4O8| |Prizegiving Fund|3,500|3,000| ||91,339|14,408| |ShareofsupportandgoremancecosG(seenote 7)||| |Support|t,437|4,522| |Governance|1,320|1,200| ||94,096|20,130| |Analysisbytund||| |Unrestricted funds|90,596|17,130| |Restrictedfunds|3,s00|3,000| ||94,096|20,130| ## ## ## ## |7|Supportcostsallocatedto activhies||| |---|---|---|---| |||2025|2024| |||f|E| ||lnsurance|1,165|1,103| ||Staffretirements|L25|7,728| ||Bank charges|60|62| ||Legalfees||7,507| ||Prizegiving expenses|66|66| ||Watercharges|2t|56| ||Governance costs|7,320|1,200| |||2,757|5,722| ||Analysed b€txreen:||| ||Trustactivities|2,757|5,722| |8|Netmorremerinfunds|zo2s|2024| |||E|€| ||Thenet movementinfundsisstated after charging/(crediting):||| ||Feespayablefortheindependent examinationofthe charity'sfinancial statements|ry|1,200| ## ## |The averagemonthlynumber of employees during|theyear was|| |---|---|---| ||2025|2024| ||Number|l{umber| |Total||| ## ## ## ## ||Restricted|Endowment|Total|Restricd|Endowmert|Total| |---|---|---|---|---|---|---| ||frrnds|firnds||funds|funds|| ||2025|2025|2025|2024|2U24|2024| |Gains/(losses) arising on|€|e.|C|€|f|E| |Revaluationof investments|241|7,769|2,O70|11,684|85,683|97,367| ## ## |Tangiblefixed asscts|| |---|---| ||Freeholdhnd| ||andbuildln&| ||I| |Con|| |AtlApril2024|214,362| |At31March2025|274,362| |Carryintamouilt|| |At31March2025|214,362| |At31March 2024|274,362| ## ## ## ## |Firedassetinvestments||| |---|---|---| |||tisd| |||investments| |||f| |Costorveluation||| |AtlApril2024||7,478,677| |Additions||206,952| |Valuationchanges||(26e)| |Cashheld inportfoliomovement||11,709| |Disposals||(282,983)| |At31March2025||7,4L4,O20| |Carryingamourt||| |At31March2025||7,474,O20| |At31March2024||7,474,677| |Cr€ditoB:amouds lallingduewithinoneYear||| ||2025|2021| ||E|e| |Tradecreditors|770|755| |Accruals anddeferred income|7,260|1,200| ||2,030|1,955| ## ## |orlossesarising on|theassetsformpartof|thefund.|||||| |---|---|---|---|---|---|---|---| ||At1April2024|lncoming
resources|Resoutces
expended|Tr"nstc6Galnsandlosses|||At31March
2025| ||Ef||e||E|t|C| |Petmanentendowments|||||||| |Freehold land|||||||| |andproperty
lnvestment|2L4,362
7,266,129|37,5s3|18,7741||(83,988)|7,769|274,362
1,273,289| ||1,/180,491|37,553|(8,174)||(83,988)|7,769|7,42?,657| ## ## ## |16|Endowmentfunds||||||(Corltlnued)| |---|---|---|---|---|---|---|---| ||Prwiousyear:|At1Aptil2023|lncomlng|Resource6|TransbrsGainsandlosses||At31March| ||||resources|expended|||2024| |||E|E|E|C|e|€| ||Permamntendowmes||||||| ||Freeholdland||||||| ||andproperty
lnvestment|274,362
LlaO,M6|36,r17|(7,98s)|
(28,1321|85,583|274,362
7,256,129| |||1,394,808|36,777|(7,98s)|
|.28,t321|8s,683|t,480,497| ## |specificconditionsbydonorsas|tohow theymay be used|.|||| |---|---|---|---|---|---| ||AtlApril2024|lncomlng
resources|ResourE6calnsandlosses
exPended||At31March
2025| ||EEEEE||||| |Prizeand scholarship funds|r94,672|6,433|(4,61s)|247|200,731| |Pr€riousyeal:|At1April2023|lncoming
resources|R6ourcesGainsandlosses
expended||At31March
2021| ||e.|t|€€||C| |Prizeand Schola6hip funds|185,146|4,930|(4,088)|11,584|79a,672| ## |been set asideoutofunr|estricted funds|b|ythetrustees|for specific purpose|s'||| |---|---|---|---|---|---|---|---| ||At|1|April2024|lncoming
resources|R6ources
expended|Transfets|At31March
2025| ||||e|ff||E|L| |Generalfunds|||29,O97|50|(90,595)|83,988|22,539| ## ## ## |lE|Unrestctedfunds||||||(Continued)| |---|---|---|---|---|---|---|---| ||Prevlousyear:|At|1Aprll2023|
lncoming|Resourc€s|Transrers|At31March| |||||1es0urces|expended||2024| ||||f|E|e|€|f.| ||Generalfunds||12,944|5,747|(17,r30)|28,732|29,O97| |19|Anatysiso,netassetsb€tween|funds|||||| ||||Unrestricted||Restrlcted|Endowment|Total| |||||funds|funds|funds|| |||||2025|2025|2025|2025| |||||f|E|t|e| ||At3lMarch 2025:||||||| ||TanSibleassets|||||214,362|274,362| ||lnvestments||||200,737|7,273,249|7,474,O20| ||Current assets/(liabilities)|||22,539|||22,539| |||||22,539|2@,737|7,427,657|L,650,92L| |||||Unrestricted|Restricted|Endowment|Total| |||||funds|funds|funds|| |||||2024|2024|2024|2024| |||||f|E|€|f| ||At31March2024:||||||| ||Tangible assets|||||274,362|214,362| ||lnvestments|||13,810|L94,672|7,266,129|7,478,671| ||Currentassets/(liabilities)|||75,247|||7s,287| |||||_:-|r98,672|1,48O491|L,704,260| ##