REGISTERED CHARtrY NUMBER: 526881 RepNt of the Trnstees and Unaudlted Fananclal Staternents for the Year Ended 31 Decemkr 2023 The rv15 Edu tional Fou ati Thorre Widgery Acc(MJntancy Ltd Chartered Acc(*Jntants 2 Vtyevale P*Jslness Parf Kfng5 Acre Hereford Herefordshire HR4 7BS The JaT¥iS Educational Foundation ontents of the Financial SLatements forlhp.year EnO￿lD￿ceMber 2Q13 P4e Report of the Trustees 1 to 3 In(*erKlent Examinerfs Re[￿rt Statement of FI￿nCIal ActIvit￿$ BaiarKe Sheet Note5 trj the FiDawal Statements 7 to 13 Detalled Statement of Financial Activities 14 The Jar¥is Educatk•Thal F¢xmdation Re[￿rt of the Trustees for the Year Ended 31 Detern￿r 2023 The trustees present thelr rew)rt wlth the flnandal statements of the eharity for the year ended 31 Decernber 2023. ThÈ trustees have adopted the prowslons of kcountlng and Reportinf by Charitie5: State[r￿t of Recornrnended Practice applicatrAe to charities preparing their accounts in accordaKe with the FlnarKial Reprtlng Sta applicable In the UK and RepublK of Ireland IFRS 1021 (effective 1 January 20191. The Educational Foundat*)Th Charlty has evolved from a charity flrst set up uslng the morw left by George JaTh(s 11704-17931 to help the poor of Bredwardtne, Staunlon-on-vfye and LettoTh. The chamty was started In 1803 provfjdlng help durin4 Ill￿S, and food. heating, clothes and edLKation for the poor of the parfshes. In 1852 the Jatvfs Charity Aci allowed the Governors to purchase land for the building of elementary schools in tl* three wllage5 and also a iK)ardir¢ schwl in Staunton-on-wye. As well as the 5chy)Is, blocks of almshtyjses were buflt In 185819 on land acquired when planning the tmjlldlng of the boardlng schxl. In 1904 the charfty was ¥)Ifl into the Jams Ed￿atioftal Fwndatb)n Charlty and the Jarvis EleeMO5￿ary Charlty. The JaNs Ed￿atIonal Foundatlon Charity coverel running all the schoo15 owned by the charity and prowding for the educatlon need5 of ihe chlldren On the ￿lIageS Includlng apprenticeshi￿ and help ￿th further education. The I￿al authortty took over the day-to-day runnlng of the SCI￿15 fTh 1920. In 194(Ys the schools changed frorn elernentary schools to primary xhools in accordance to the general change of school 5lrurture in the cwntry. The Staunton primary sch￿( was relocated to a new site In the ￿lIage and the old school was sold in 2015. When the schcols In Breoknrthne and In Lettr￿ were deemed by thè [￿al auththty as beiTh8 no longer needed these were sold by the Cha￿tY and the n￿eY Invested for the e￿￿)y￿￿￿t of the charity. O&JECTIVES AND ACTivmES ObJectl¥e5 and alms The objective of the chamty ts to promote the educatlon of persons under the age of 25 yeaT5 who are resldents In the County of Herefordshire and are in need of finarKial assistance Ipreference beln8 85ven to pers(¥is who are resident in the area of the parishes of Staunton-on-wye, Bredwardine and Lettonl. The cuireni acLMty is to support the prirnary School in the village of Staunton-on-wye and to provlde grants io young people iTh Herefordshire with preference ￿7n9 givln8 to th¢)se In Staunion-on-wye, Bredwardine and Letton to further thelr education. Fundlng on new sch￿1 The Ch￿lty has contributed the sum of £731,¢XIO towards the cost of the new schx•l. The cosl of the new xhool can be seen in the tangible fixed asset note. A further t60,(#XI was donated to the 5chcd in 2020 towards the trwilding of the annex. Public bonefit In drnfting ihi5 report, the Governors have corrfjlied with the (krty fn Sectlon 4 of the Charitie5 Act 2(￿, to have due TeEard to publtt benefit guidaKe published by the Charity Commlssknn. ACHIEVEAIENT AND PERFORIAANCE The governors are committed to malntalnlrtrd and suppNUng the School at staunton￿1-wYe. LhJrfTrg the year educatfon 5uprxJrt grants have been pald to 5 s￿(eSsfuL appltCants12022: 8 grants). FINANCIAL REVIP Financlal poslti¢)n The results for the year Show net expenditure, before gafjnsllosses on Investments, of £29,169 12022.. £16,563). Net a￿ts amounied to £1,817.619 12022= £1,829,180). Dividend income Increased and the market Val￿ of investrrents increased by 1.09%12(Y22.' detrea5ed 11.78%), after adjustin8 for addltlons and dlsposais. Prfndpal fundlnR 51)urces FU￿lIng is sourced Ir(￿ one rental rxoperty owned ty the Charlly, and dfj￿dend incorre re￿7Ve￿ on investments. Investment pollcy and objethvès In the long temi the aim is to hold the permanent en$tr￿ent entirely in a broad rangÈ of inve51merts in order to pursue the Foundatlon'5 orlglnal aim of dispensing educatlonal and tyalnlng grants and 5UPFtyJrt?ng Staunt(￿-0Th-wye Primary School. Page 1 The Jarvi5 Educational Foundatic Rep)rt of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVEW Re5erve5 poIIcy At the balance sheet date "free reserve5- were £96,195 12022.. £11X),0021. The chartty geherally alm5 to hold suffldert "free r￿r¥e5- to enable it to meet expected expenditure and grant commitmeTrts over the foreseeable futurc. Ilaterlal Investment I￿ring the year share dlspjsals resulted in txoceed5 of £160.536 12022: £130,845) and new Investment purchases arrrfjunted to £150,03212022'. £1LK).2481. Investment p•rformanc• The rnarket value of investments Increased 1.09%12022: decreased 11.78%) durfng the year. FUTURE PLANS The charfty ￿11 continuè to supm Staunton ￿￿rnary school and Indlwduals in need of finan￿al sutwt by way of educational grants. STRi￿URE. GOVERNANCE AND ht4NAGEAIENT Gtsveming docurnent eguLatlon schèrne djted 21 September 1976, as amended by Scheme dated 27 Septernber 2002. Recruitment and •ppolntment of new truste•s The board consists of up to 10 Trustees: 3 Norninative Trustees . 1 appolnted by the Wye51de Parish Coundl, 1 app)inted by Stauntu)-on-V4t Parlsh Counthl. 1 appointed by Kinnersley and Distmct Parfsh Council 6 Co-opted Trustees, each appointed for a terrn of 5 year5. 1 local Cler￿ as ex-officlo Thember- the Rector of the Parishes of Staunt(#)-on-Wye and Let¢(￿. 14otes'. Co￿pted Trustees are people w￿) thrwgh residence, occupation or employThent, have spedal knth¥led8e of the area In vlhlch the pailshes lie. At the end of the year there were 7 trustee5. Trustees are p￿￿ded a copy of the SchewE 1constllutl￿IG0Vernlng ¢Sxumeni: dated 21 September 1976, as arnended by scheme dated 27 September 2￿}11, together with a map of the properties held. aFfJroprfate, t are taken to Visit the woperty housing ihe 5ch¢yJl. Tr￿tee5 are encwraged to attend approprlate ctyjrses. Orqanlsatlonal structure Four quarterly meetlngs are held each year. At the first ordinary meetlTh8 In each year the Trusm elett a Chalrn)an for the year. The Chalrman Is always eligible for re.eLeclion. If at ary rneeting the Chairman is not present vrtthln 10 minutes of the apwjinted tit￿ the Tru5tee5 present ch005e one of their number to ￿ Chairn)an for the meeting. special meetlng can be summoned at any tlrne by the Chaiman or any Trustee5 With not less than 4 days. notlce beln8 given to the other Trustees of the rnatters teing discussed. The special meetin8 rnay take place ImmedIa￿lY after an ordinary meetir¥J. Four Trustees Constitu￿ a qwrvm. Every matter Is detern￿ne￿ by the majority of the votes of the Trustees present and votlng on the q￿tIOn. Each Tnkn has one vote, and the Chaiman ha5 a casting vote. Related partle$ The Jarwts EleermtyNry Chartty is a related charity. tletalls of transactlons can be fwnd in the note to the aCC￿Trts. The Jams Educational Charfty can appoint up to 7 govemors of Staunton.on.Wye prirnary schwt and considers the school to be a related party. REFERENCE AND ADhlJNISTPAThIE D￿AlL5 Reglstered Charfty number 526881 Pase 2 The Jarvls Educational Fwndation Re rt of the Trustees for the Year Ended 31 December 2023 Principal address Fiint5ham Court Tftley Kington Herefordshlre HR5 3RG Trustees R J Skynne D Klng Ire5igned 16.1.231 M Powell N SÈliar A John50n S Williams Rev P Harvey Mrs A Andrvths Independent Examlner Thorre Widgery Accountancy Ltd Chartered Accountants 2 Wyevale Business Park Kings Acre Hereford Herefordshire HR4 78S Approved by order of the board of trustees on ............................................. and sI￿d on Its behalf by.. J sk￿rne . Tntstee Page 3 Inde￿_dellt Examinerf5 Report to the Tr￿tee5 of The Jarvis Educational Foundati¢)n Independont •xamly￿rfs r•port to th* trustees of The Jams Educatlonal Foundatlon I rewrt to the charity ta￿tee5 on my exam5nalfon of the xcounts of The Jaryis Edwtifmal Foundation Ithe Tr￿tI for the year ended 31 December 2023. Respor￿bI1ft1es and basls of report the charity trustees of the Trv5t you are re5pon5ible for the pKeparation of the accouThts in accordance with t reqLrirerrtht5 of the Charities Act 2011 Ilhe Ac¥1. I report In respect of my examiThation of the T￿￿t'S a(c￿nts carried out under Sertion 145 of the Art and In carrying ¢￿t my examlnaiion I have followed all appllcable ￿rectIonS glven by the Charfty Commlssf(#) under Sectfjon 14515llbl of the Act. Independent exarnlnerfs statement I have completed my examina￿0￿. I conflmi ihat no materSal matters have c(¥ne ￿ my attentfjon In C(￿neCtICffj wlth the examlnatlon SI￿n8 me cawe to belleve that In any rnatertal respect: att¢yJntlng recorjIf7eé by the revaluatlon of certaiTh assets. Golng Concern The trustees assess whether the use of going concern is appropriate i.e. whether there are any matetlal uicèrtaintles related to events or conditlons that may cast slgnlficènt doubt on the ability of the cC￿panY to Cort1Th￿ as a golng COn￿M. The tru5tee5 rnake thls as5e55rnent in respect of a period of at least one year fri)m the date of authorfsatlon lor Issue ol the financial staterrents and have ￿￿cluded that the company has adequate resour￿ to ccfitinue in operational existence for the foreseeatrAe fulure arKI there are rK) material uncertalntles ab(yJt the charitys ability to continue as a going concem. thu5 they contiThue to adopt the going concern basls of accountlng Tn preparing the financial statements. In¢ome Ail income is recogn?5ed in the State[r￿t of Firwcial Artlvlties once the charfty ha5 eTltitlement to the funds, it is probable that the Income ￿11 LE received and the amount can be meastjred ￿lably. Expendlture Liabilities are recognlsed as expEnthiure as soon as there is a legal or constrwtfve obllgation tommilting the tharity to that expenditure. It 15 probable that a transfer of economK benefits will be req￿red in settlement and amount of the ¢)bligation can t* measured reliably. Expenditure is accounted for on an accruals basis and has been cla55ified under headings that aggregate all cosi relaied to the category. Where costs cannot be ¢threctly attributed to partitylar headings have been all￿ated to actI￿tieS on a basls conslstent the LTr5e of re50urce5. The cost of repair5 rnalntenance Is charges agaSnsi the Income and expen(liture acwJTht as incurred. Giants offered subject to conditlons ¥vhich have not been met at Ihe year end date are noted as a commttment Mt as expenditure. Flxed a￿ts Depreciation is smlded at thè folLrpMn8 annual rates In order to wfite off each assèt over its estlrnated useful life. S￿￿tOn￿Tr-￿e Pmmary Sch*)I Straifht li￿ over 50 years In accordance Mth relevant accounting legislatlon, the investment propertie5 which comwse laThJ aThJ t￿7[ding5 ovmed by the tharity are not wbject to any depreclation charge and are shown at the govemors rnarket valuation In the accounts. Investment property Investment pr¢¥trttes are valued every 5 year5 based C￿ their fair value. Taxatlon The charity 15 exempt from tsx on Its charitable aclivitie5. Fund accountlng The unrestrtted fund Is malntalned for the day-to-day rw7nfjng of the charfty. The restricted fund is held for the PWFrf)5È of funding major repair The eThJowment f￿d ¢ty)slsts of Staurton