BOSBURY EDUCATIONAL FOUNDATION Charity NO: 527140 Income and Expenditure for year ending 31 December 2023
INCOME
| Rent | £ 27,000.00 |
|---|---|
| Old Boys school Hire | £ 110.00 |
| Land Rent | £ 50.00 |
| Bank Interest | £ 1,412.35 |
| Dividends | £ 2,872.93 |
| Bank adjustment/returned cheque | £ 1,150.00 |
| Total Income | £ 32,595.28 |
EXPENDITURE
| Insurance | £ 3,549.67 |
|---|---|
| Water/Electricity Old Boys School | £ 648.57 |
| Property upkeep | £ 1,160.00 |
| Student Grants | £ 3,000.00 |
| Clerks salary & expenses | £ 760.00 |
| Caretakers salary | £ 350.00 |
| Bank Adjustment/Returned Cheque | £ 1,150.00 |
| Old Boys School Conversion Planning | £ 2,115.00 |
| Total Expenditure | £ 12,733.24 |
Bus Bank Account balance at 31/12/2023 £ 168,615.16
Treasurers Account balance at 31/12/2023 £ 9,225.42
Statement of Investments
| COIF Income Shares (units) 4709.35 value | £ 93,457.05 |
|---|---|
| COIF Acc interest (units) 564.05 value | £ 11,193.57 |
| Total | £ 104,650.62 |
| COIF Deposit Fund | |
| Balance from 2022 | £ 8,069.98 |
| Interest | £ 353.69 |
| Total | £ 8,423.67 |
Declardllons Slgnod on behall of the Slgnatur•ls Full rwnels rQQS Chalr.
REPORT SMALL CHARITY
TRUSTEES ANNUAL REPORT JAN-DEC 2023
Bosbury Educational Foundation
Charity No – 527140
Trustees
Mr Peter Thomas (chair)
Mr Sven Bosley
Mrs Shirley Eyles
Mr Harold Powles
Secretary – Mrs Nicola Ruddick
The purpose of the charity is to provide grants to young people going into further education. To qualify for a grant the applicant must have lived in the parish of Bosbury for at least 3 years and be undertaking further education or completing a vocational course. The amount of the grant awarded is decided by the trustees each year.
Grants are advertised through the local parish magazine and social media.
Trustees were pleased to see the number of applicants had increased this year.
Trustees are recruited from within the parish, recommended by current trustees and come from a cross-section of the community (currently a farmer, care worker, builder and a retired chartered surveyor).
Trusts achievements and objectives in 2023.
The Foundations activities are restricted by the original trust deed.
In 2023 the foundation generated income from the rental of residential and commercial properties it owns, comprising of 4 cottages, the former village school and a small area of farmland.
The income generated was used to provide grants to 6 local students towards the costs of their further education at university or college vocational courses. Some of the income was also used to maintain and update the trusts properties.
This year the trustees are exploring the idea of redeveloping the Old Boys School. Use of the hall is low and development into two houses for rental, would further increase the Foundations annual income.
Financial Review 2023
The Bosbury Educational Foundations annual accounts confirm the sound financial footing of the charity. Reserves are invested in funds recommended by the Charity Commission. The Foundation has no debts.
The Foundations accounts were independently examined on 27.07.2024.