REGisfERED CHAArrY NLK41BEK' 526881 ReEM￿ of iheTT.U5tee5.and Unautlited Flnanclai Statements for the Year Ended 31 2024 The Jarvi5 Educat￿[￿1 FO￿datI)n Thjme V￿gery ACCeun￿¢Y Lid Chortered Accountants 2 Wyevale Business Park Klr45 Ac Hereferd Hereford5hire friR4 7BS The Jath5 EducatlDnal F0￿datk)n Contents of the Financlal Ststements for the Year Ended 31 De(ember2024 RerK)rt of the Trustee5 1 to 3 Indep￿dent Examlnefs Report state￿nt tsf Financlal Actlvltles Notes to the Flnanc?al 5taiements 7 to 14 Detalled Sutementof Flnandal Acknyllles 15 to 16 RetKJrt ol the Trustees ber2024 The trustees wesen¢ thelr repDrt %￿th the financtal slatements of the thèrlty for the year ended 31 December 2024. The trustees have adopted the prowslons of A(c￿nting and Reporting by C￿￿[￿5. stsretnent of Recommended Practlce pplkabie to charliles preparfng their accounts In accordance vAth the Financlal RepJrtirfj star￿ard appltcable Sn the UK and Repthlic of Ireland IFRS 1021 leflectlve l January 20191. The Ed￿￿1￿1)11 Foundatlon Charlty has e¥olved from a charfty flr5t set up ￿￿n8 the MLW left by Geor8e JatVi5 117W17931 to he￿) the F£•)r of B[edward1￿. Staunton.on-Wye and Letton. The chanty w48 started Sn 1803 W0￿dIn9 hEIp durln8 Illness, and f￿. heatlngj clothe5 and educatlon for the poor of the parishes. In 1852 the Charity Act allowed the Governors to wrchase land for the ￿liding of elementary schools In three village$ and a￿0 a boar(lin8 school in staunton-ort-wye. well as rhe 5chorAs, two bioths of almthou5es were bullt In 185819 on land acqulred when plannlr4 thE Ixjlidlng ol rh¢ boardin8 xhool, 1904 the chartty was spllt into the Jarvls Educatlonal Foundatlon Charfty and the Ja￿S Elewmsynary Chadty. The Ja￿5 Educ•tlonal FOU¥￿411￿ Charfty covered runnin8 all the SCI￿15 owned by the charfty and provlthng for the educatlon needs of the children In the v1114Et5 Includln8 apprentlceshfp5 and help wlth further educatlon. The local ￿t￿tY tfy)k over the dty.to-day runnin8 of the SC￿1$ in 1920. In the 194trs the schwls ¢han8ed from elementary schoob to ￿fjmary schools In accordance to t1￿ 8eneral ¢hanRe of ¥htsoi struciure In the ¢wntry. The Staunton prlmary scltrjol was relocated to a new slte In the ￿lIage and the old school w•$ 501d In 2015. When the schwts In Bredwardlne and In Letton were deemed by the i¢¢•l authorfty as no ion8er needed these were Id by the Chadtyand the rnoney Invested for the endo%fftent of the cha￿ty. 0￿ECTIVEs AND ACTNir Objertlves Ind alms The obltctlve of tharlty ts to promote the educatl¢n of pers￿$ ur¥Jer the w of Z5 years are resldents In the Ctyjrsty of Hérefordshlre and who ar• In nted of flrtanclal a$8lstance IprefernrK• 8l¥en to penons vkno are resld•nt In the aréa of the parishe5 of Stauntcn.on-Wye, Bredwardlrte and Lettonl. The current a¢iirfty Is to 5UPPOrt the prfmary 5chcol in the vlllaBe of staUnt￿.0n.￿￿ and to proylde irants to ywn8 people IA Fleref¢xdshfre wlth preferenre bdn8 glvln8 10 those In staUnrCffj￿Tr.Wy*. 8redwwdlne and Letton to further Ihelr ¢d￿at1￿. Funthni ¢n new school The thar*ty has trmrrfbuted the surn of E731,000 towird5 the cost of th* new school. Tr cosi rf the r*w xMol Con b* seen In the ta￿fjbie flxed a55et ￿te. A further £60,(MJl was dcfflated ID the s¢lthl In 2020 toward5 the b￿ldIn8 01 the new P￿lIC beneflt drnftlw thls rew(, the Governors have complled wlth the duty In Sectkn 4 of the Charttses kt zcu, to have d regard to wbllc kne￿It guldwKe wbtlshed by the Chèrfty ComWcffl. ACHIEVEIIENT AND PERF¢JRMANCE The qovemors are commltted to malntalnlnq and sUPWtkn8 the SCI￿1 at staimt4n.0n.l￿*. rin4 the year educath)Th support8rants have PaTd to 5 suc￿$S1U1 applicants Iz02J: 5 Irantsl. PINMCIAL REVIEW Flnantlal F￿10Th The results for the year show net expendlture. t*fore Wns11055es on InvesDneThts, of £19,￿1 12023: E29,1691. Nei a58ets amI￿nted to £1,875.814 12013.. £1.817,6191. DI￿dend income Increased and the market valu¢ of Investments IrKrnased by 8.81%12023.. Increased 1.09%1. 4fter 8djustlTr4 for additlons and disp05ais. Prln¢yal sour PurkllD8 Is S￿￿ce4 from one rental pyoperty owned bythe Char5ty, 4JivkletMI income recetvgdon investments. Page 1 The J#M5 Ed￿atIonaL Fwndat Rewjrtof theTru5tees for the Year Ended 31 DeceTts2024 FINANCIAL REVIEW Investfflent ptsllcy arKF obJectlve5 ITh the long term the aim Is to hold the pertnanent endow[r￿t entlrdy In a broad raThde of InTr￿￿*￿ts In order to pursue Fwndations oMgthaL alm of (li5pen5ing ethKaUonai and trainlThg Brants aT*J suppxUr4 StaWtOn*n.￿e Prfm)ry School. At the balance sheet date.free re5eNef Y￿re £92,458 12023.. £96,198). The charity generally &wns to hold 5ufflcieAt Yree re5erYes" to enable it to meet expected expen¢JÈture ar¥J grant commltnients over the foreseeablefuture. Mate￿•[ fNvè5tmeDt [￿rin0 the year (tiswJsa15 re*Ated In woceed5 of £228.037 I￿3.. £160.5361 and 1rwestn￿t wrchases a￿Unted to £210.686I20Z3- (150,0321. The market W41ue of inyestwts I￿re**d 8.81%12Q3: wea¥ed 1.C8%1 ￿rfng theyear. FUTURE PLANS The tharty VAII contiNe to swrKJrt Staunton prfmary and iTrYMduals in need of flnanclal wpport by wty of edI￿at10naI grants. The charity Is aegot(atlng the acquiy•on ol land adjacent to Stsuntdn an Wye prfmary 5Ehool. The (and wEt ￿ used to Improvefathittes at school. R￿u[atTOn scheme dated 21 September 1976. a5 amended ty stlEme dated 27 Septerrthr 2002. The board con51sts of ￿ to 10 Trustees: 3 N(￿lnatiVe ThJstee5 - 1 appjlnted by the Wyestde Par&1 Councll. 1 aptx)irted by stsi1)tth￿.1$tye Path Coundl. f apr￿le￿ by Klnnersiey and ixswct Parfjh Coundl 6 Cowted Twstees, Each apwjinted for a tenn of 5 year5: I tfal Cler￿ as ex.ofliao meynber. thp Recior of ￿ Paris1￿ of Staunton.on-Wye and Letton. Notes.. CO￿pted TTU5tee5 are perple ytho thru4h re5ioknce. (Kciparith gr eMploym￿t, have 5pedal ￿Thied￿C of the area in vthich the parishes ITe. At ￿ end of th? year theye were 7 tru5tee5. Trustees are provlded ￿th a copy of the Scheme Icon5tituttonlfjoverTrln8 (*xumert: dated 21 5epternber 1976. amended by scherne dated 27 SeptembvT 20021. together with a map of propertles held. When appropriate, tly are taken towsrithe property hwsing the so%xl. Tntstee5 are encowaged to atteTrJ apwopriate cwrses. Or8anlsational structure F¢￿r quarterly ttEeknriq5 kre held each year. At ￿ flrst (thary meeyng in each year the Tr￿leeS elect a chaim￿N for the year. The Chalrnwn is always eliglble for re-eiectton. If at any the Chairn*n Is Dot present wfthin 10 mlnute5 of the appolnted tirre the TTU5tees present choose one of their number to be Chahmwi for the methn4. Aspeclal mwng n be siJmmor*d at arw time by the Chairman or any two TTU5tees vAth not ie5S than 4 day¥ notfjce bEing given to V other Trustees of the matters befn4 diSc￿ed. The special meetfng may take piKe irNnethately after an cf(lir meeilng. FoUrTr￿tee5 CODStiiute a qmm. Every matter Is deterni1￿ majtylty of tIEvoies of theTFLthes present and V￿fig on the Eath Trustee has cme ¥rte. and Chairma) has a castiro vote. Page 2 s Ethcatl F￿dati0Th Rej￿￿Of tbe Trustees rEn srRUCfURE. GOVERNANCE AND MANAGEIIENT Related partiès The Jarvls £leen￿$ynary Chartty 15 a related charity. Detai15 of tran5acUon5 can In rLOte tothe acctyjnts. The Jarvis Ed￿allo￿al Charity can apwlnt ip to 7 gOVerr￿ of StawJton-o￿Wye primary schLyA and c￿￿derS the sckn to be a related party. PfftRENCE AWD A￿NI￿lIAT￿E D￿A￿s ReOsLered (￿rIty number 516881 Prln*al address FiiAtsham Court r)tiey Klng Herefordshlre R5 3RG Trustees R J Y(yrrne M Powell Sellar A Johnso S Williatn5 Rev P Harvey PArs AAndrew5 A ihven lappolnted 14.4.251 kndependent Examlner Thorne Widgery Accountaficy Ltd Chartered AcctyJntants 2 Wyevale Bu5ine55 Park King5 Acre Hereford Herefordshtre HR4 7BS Apwoved by order of the board ¢f tnrtee5 on................... . and $Ig[￿d on its behalf by. PaBe 3 In(krtndent Exam1￿￿5 Report. to the Tnjstee5 of The Jarvi5 Educadth)al FwndaticTh In**ndent examlnerf5 report to the truste+s of The JaT¥ls Educatlonal Foundrtlon I repwL trj thE cthty t￿￿ee5 on my examination of the accovnts of The Jams £thJcational Foundati￿ (the TrLLKtI for the year en(￿d 31 Decernber2024. Responslbllltles and 1*sis of rwrt A% the thirtty trustees of the Trust >w are resp￿ for the pwaratton Of the acc￿nts in accordance wlth the req￿r￿ents of tt* (haritie5 Act 2011 fthe hLfl. I repDrt kn resFect of rw exarnlnatkn) tsf the T¥u5t's accounts carried out under Section 145 of the Att and in carrying wt rny examlnatton I have followed all a[￿kable tlrections wven by the Charity CL¥I)mF5sion under Secrton 14515llbl of th dependent exarnTr*rfs statement I have (ampleted my exarnlnatlrm). I conflm that rn matw1al rnatter5 have to my at￿ntIon kn t￿￿170￿ examination 8ivin8 caitse to bEii2ve that ln any ma￿ri)I resr*rt: 4w)unting recerd5 were not kept in res￿{t of Trust as reqthred bysethon 130 of tht kt", or the accwnts dc* not acthrd th)5e records; or the accounts do not ci>rnply with the applicable req￿reMents ctrceming thE fonn and ccffje￿t of arcwnts set the Charitie5 Ikcowtts and Report51 Regulatlons ZCQ8 other than any requirement that gfve a true and fafr wewwhich Is not è rnatter considered ag part of an iWnt examination. I haye Th) and have come acrLSS m other TFwtters In c￿ne¢t1)n the exaMi[￿tion atteThtfon thfxrtd drawn in this repcrt in order to enable a prwundwstanding of the accwnts to be reacw. l•rs Llsa Weaver FCC4 Thome Widgery AccLKmtancy Ltd Chartered AC￿JntaTrts Z Wyeyale B￿nESs Park KlTh4s Acre Hereford HerÈfordshSrè HR4 7B5 5181?:s......-..... Dats:.... The Jarri5 E£kKational Founda￿￿7 StatLThnent of FIna￿laLACtiWl7e5 for the Year Ended 31 tlecember Z024 31.12.24 31.12.23 Totsl fmds Urbrestrictsd Restricted fund Endowmert fuTh fund5 INCOME AND ENDOWMENTS FROM Other tradirq actl¥fjfie5 InveStrf￿t 26,963 27,0 Tothi 27,049 27,083 27,146 iXPENDrruRE ON RaI￿n8 funds 5.198 Charltabie aetfvltlès Ethcation 25.587 23.528 49,115 49.968 To￿1 30,785 25,6 56,385 56,316 Net gain5 on inve5tThents 86.993 87,497 17,609 INC￿E1{EX9END￿TIIREl 13,7361 61,427 58,195 111.5611 RECONaLLATION OF FUNDS Total funds brought forward 131,194 9,918 1.676.507 1,817,619 1.829.180 TOTAL FUNDS CARWED FORWARD 127.45B 10.422 1.737.934 1,875.814 1,817.619 The notes fomi partof thesellnanciai statements Page 5 Thejaths Ed￿tIOnal BaLa￿e Sheet 31 December 2024 31.12.Z4 31.12.23 Notes XED ASSErs Ta￿S￿ble a55ets 606,139 622,261 Inve5ttnents 908.3 35Q.O 822,867 350,(XX) 10 1,864,529 1,795,128 CLIRRENT A55EF5 Debtors Cash at bank and In hand 5.578 9.8 21.129 15,43 26,435 cRED￿ORs AtrKxJnts faUTng due ￿thfjn cfeyear 12 14.1531 13,9441 Cl￿RE￿rASSETS 11,285 22,491 TOTAL ASSETS LESS CURRENT UABILITIES 1,875.814 1,817,619 ASSErs 1,875.814 1,817,619 FUNDS LlnTe5trKted funds Restricted fl￿dS E•thVm￿t f￿d$ 14 127,4 10,422 1,737.934 131.194 9,918 1.676,507 TOTAL FUNDS 1.875.814 1,8t7,619 The flnancial 51atetr￿￿ts were approved by the 8wd of TtU5tee5 and authori%ed fDT iswe .. aThd were SI￿d ￿ its tehalf by: R J skyrTh￿. Tnjstse s fcTh wiof these flwclal 51atements Page 6 TheJaMs E 4l&)rfF¢yJ￿ati0n Notes to the Financial Staternents for the Year Ended 31 tknmber 2024 AccouKnNG POLIC￿S Basls of preparin4 the finèrKlal statements The flnanclal statements of the (harity. thKh Is 8 wbllc knefit entity under FRS 102, have kten prep4reol ID accordance Charfiie5 SORP IFRS 1021'Accwnting and Reporting by Charities: Statement of Recon￿e￿ Practice applfcable to thtriti@5 preparing thefr acc(thts in ac¢ordarKe with the Fitwncial RwJrfrtg Standord appllcable the UK and Repthllc of Ireland IFR5 1021 leffective 1 Jarwjary 20391,. Flnawal Rekx)rtin8 Standard 102 The Financial ReFQrtI*8 Standard 4¥licable in the UK and Rewmlc of IreLarKf 4n¢J the Charities Act 2011. The flk)anthal statements have been prepared under the l)istorical c05t conventicfj. vrith the exceptiun of investments which are included ai markt Value, a5 modified by the revalltatton of ￿rtaIn a$5ets. Gotn8 c￿￿ern The trusteei a5se55 ￿ether the use of golng tontern 15 appr￿riate i.e. whether there ar2 any material ncertaintles related to Èvehts or conditicfth thai may cast si8nifiEant <*)ubl on ability of the company t continue as a concern. The t￿￿te&S make thT5 asse55Tnent in of a of at tea5t year frL¥n the date of authoristiiion iswe of the fi"nandal statsments and have Concl￿ that the company Iw adequate resources to ¢ontinue in operatlonal exlstence for the foreseeaile fvtwe afid there are no material uTKertainties aLout the charitys ability to coDtlnue as a goiw concem. t￿$ they condnue to adopt the going concern basls of accountTng in preparing the financial ststements. Income All irKome 15 reco4nised in Statement of FmarKial AC￿VItIeS the thartty has entitiernent to the fun¢ts. It ts probable tlkitthe sncomewiu be recelved LAd thÈ atllount￿n be measured reliably. ExpeTrdltyre Llabilftles are rKoBni5ed a5 expenditure as SODn as Ihere Is a legal or constructive cbllgatkn comtnlltin¥ the harity to that expenditure. it 15 probable that a transfer of Ècortomlc benefits will be rewired In $￿tLement the amount of the obiigatlon be rneasured rellabty. EXpertdltU￿ is a¢tounted on an basls and ha5 been classified under heaolngs that aqgregate all cost rekted th the category. Where costs cznTrJt be directly attribJted to particular heath"Ts8s they have been èll(Kated to oct5￿tieS cffj a ba￿$ consistent wtth the use of The costof repairs aThJ maintenance is ch4rge5 a8ain5t the i￿¢￿rE and expendliure actujftt 49irKwred. Grants offered wbject to condi￿0￿% thich have teen met at the year end date are rmrted as a carnmltw￿nt bji not accrued as ÈxwKlitwe. Flxed assets DÈprÈcladon is prtivNJed at the frknwtng 3nrK*l rnt¢5 in or(*r to ￿lte off e￿ asset over its estknated usef life. Stauntrffi.on.We Prunary School Stratght Ilne over 50 yeaT5 In accordantr %*ith relevant acCo￿ting legislation, the investrnent Pr￿r￿eS whlch ujmprise land and ￿￿(ding5 owned by the charity are not subleci kn any depreciation charge and are 5ho%*n at the governors marktt VI￿Li¢ In the accthmts. Inve5twLt woperty Investh*nt woperti* ¥*e valued every 5 w based (*) ther fairval￿. TaxatK The tharity 15 exempt from tax fts tharitable artivilie5. Fund accwiting The threstritted fvrKI 15 maintalned fcf the day-toQay rth)nlAg ot the charity. Page 7 coniiwe