COWLEWS ENDOWED SCHOOLS FOUNDATION CHARITY COMM18810N REGISTERED NO. 627291 FINANCIAL 8TATEMENT8 for the year end•d 31 March 2023
COWLEYS ENDOWED SCHOOLS FOUNDATION Annual R•port far the y•ar ended 31 March 2023 INDEX L•gal #nd Admlnlthth Infomiatlon 21è4 Th11tl. Annu•l Report Indyid8nt Ex8min•rS Rewl SEaiemenl ol FlnarKlal AcUvlle8 Bglwc• Sh••t 1013 Notes to tho Fin•rKl•l Stat•m•n 14 Sehedule to th• Fin8n¢i81 Statem$
COWLEY'S ENDOWED SCHOOLS FOUNDATION Logal qnd Admlnlstratlvg Infomiatlon for th8 y•ar •ndod 31 March 2023 Cowlevs Endow•d School Foundatlon- Ragl8t•r•d Charfty No. 527291 R•pres•ntativ Donlnpton P•rfsh ¢oun¢ll Mr. J.R. Wrgy. The Northings.. Northorpe Road. Donlnglon. Spaldlng, PE114XY. {Cha6r} Mr. S.P. Lovell, Beck Fam. Donlnglon Northorpe, Donin9ton, Spelding. PE114XY Mr. R. MarshatL 88r& Ho(Èse Fam. Quadring Bank. Qusdring. Spalding. PE114RD Mi$. E. Wray, Northorpe Farn. Donlwon, PE114XY Lln¢olnshlr• County Coun¢ll Mrs. J. King, 15 High Slreel, Doninglon, s119, PE114SN. IAppolnl8d May 20211 Mr. J. Pearson, 90 Bl¢ker Road. Donlngton. Spaldlng. PE114XR. IRellred Decèmb&r 20211 rs. S. Thwold, 18 Northorpe Road, Donington. Spalthng, PE114XU. (Retired Dmber 2021) Cowoplatfv• Mr. M. RolSln$on. 9 Blek•r Road, Doninglon. PE114XP. Ne•-Ch•lr> fvlr8. J.C. Stanley, 45 Towndam Lane. Donlnglon, Spalthng, PE114TR Mr. J. P••rson, 90 Blckar Road. DOn910. Spalding. PE114XR. IAppoint•*J Nov&mb•r 20211 Mr& S. Thorokl, la Northorp& RIMd, Donlnglon. Spalding, PE114XU. (Aponted Novemb•i 20211 Ex Ofll¢lo Govwnor The Revd G P Robertson. Th• Rectt)ry. Churrh Lane. Swlne$heod. Boston. PE20 3HY. (Vic8T ol Doniruton) MT. P.C. Slalgr. 12 Ma5In98 Lan•. Donlngion, SpaldiNJ, PE114XA. (Hlgh S¢hooil. (Appolnled July 2021) Mr. R. Col•, 46 Quadflng Road, Donknglon, Spakling, PE114TD. (Prlmw Schoofj. IAppolnl&d July 2021) Cl•rk to tho 9ov•mor• Mr. P. Sk•118, Dembt&by House. 12 Broad St[ Spelthng, Llrrs. PE111ES. B•nk•r• Lloyds Bank Pl¢.. Hall Pl8ce, Spldhg, Uncs PE11 ISP. 8ollcltor• Ch•tt•rton$, D•mbteby Hou6•, 12 Btoad str1, Spjldlng, Lln¢s, PE111ES. Ind•p•nd•nt •MInor Mr. KJ. M•ggs, BA., F.C.A. Ho•km•n Way, Spddiry. PE113HE. Inv•stm•nt manag•rn Money Minder Finandal S•Nlc•$ (UK) Umltod, The At• H8&, 41810n Rood, Stealord. NG34 7ER Inv•stm•nt Sub-eomrnlttsg Mr. R. Marshall Mr. J.R. Wray Mr. M. Rolllnson Grant• Subtheommltt•• Mr. J. Peafson Mrs. S. Thorold Mrs. J. C. Stanley
COWLEYS ENDOWED SCHOOLS FOUNDATION Tru8té•s' Annual R4port for th• y•ar •ndèd 31 Mar¢h 2023 The trustees wewil the charrfys accounts aNI report for tho )ded 31 Marth 2023. Prlnclpal addr• Tha wnclp•l addrn58 of the diArity Is Oembleby Hcw89. 12 Broad Streot, Spol¢ny. LirK8, PE11 1ES. Govwnlnq docum•nt tharity 1$ govemed by a $chome made by the Minlgler of Educatlon under tha Charitsble Trusts Aci 1853 10 1925 soaled on 15 Augysl 1957. V4rl•a by 8 stheme $e¢d 22 I)rll 1968, furthor varied ty a 8chem• of 10 M8y 1971, and amended on 14 Nmmber 2019. Go¥•rnlng body The btsdy ol govemor¥ of Ihe fOdatiOn h•ll. wth•n comFloto. conslst of nct18•8 than or mor• than fowt••n persons mad• up JJ IlOW5, Ono ex offlrAo Govemgr, tdng the Vlcar of Donlnglon, No less than el8V8n or more than thlrt••n Representatlve Govemors. beln9 by tho Parlsh Councll of Donlngl(Jn. by South HOand DS$ld¢l Council. one by knncolnshife CThJnty Councll. one ty thg Gov•rnors of the ThDma• Cfft Hgh School. one byltte Gov•rMr6 of Iho Doningt(N) Ctyley EndvNed Prlmary School, No th thr•• nor moY• than fivo caPtaI1¥• Gov•mors to b• appjnted by r•8Oluu of th• gov•rnor•. County Councll w4•morn ghall b¢ •ppolnt•d for a term of offui. whllit oth•r r•Pr•8•ntaI gov•mo •hAM b& 8ppolnt¢d for a tern? DI thr•• ya•r8. •nd th• C¢)vOPtalfiw Govwnorn for 8 t•rm of flv• •18, 9ovemors shall hold ordlnary tt Slatsd meeOng8 ai1&491 In ye•r. Thgrg shall qUOfUffl when flve Govemors af& prenI every matler Shall be delermlned by t ma5orlly ol the Govèmom tyesent aryj volkng on th• qu•sticffi. Hè•d Mastern Tenur• And Offiaal R•ldenco Th? H08dmasler of Covleys SgGondary Sthool. Donlngton, shall thvell In the regidèncè. rfany. asslgngj for him. The wcupalion and ofthe residfjnce and of any ather proF4rty of thg Foundati occupled by hlm as Headma81er sh•ll b• had by respect of hls official character and dulies. not a$ t•nant, •nd. rf ho Is remov•d from his offKe, he shall rellnqulsh 811 cwm to th• M4$tw$hp and bts fulur emolLmènts, and $WI deliver poJs088irm of lh• rg$tdonc• and othor propgrty lo Ihe Govwrnr8. or ai they direcl. He 8hall nol. cept Mlh the pemil894on of th Gov•mor•, p•mil any pers( not Ing member of hi$ fjmity lo occupy th• M5id8nc• of •ny part Ih•r•ol. Nomlnees atterwj a IruAté•J moellng vthere Ihey are gIn 8n Inslghl Into how the ¢h•rfty operale8. Prlor to nomlnalth, 811 candidates ore mado Awar• of the obE8¢1s ollhe charlly. Tru8t••• Durfng tho y•ar Mr P Slaior and Mr R Colè V•W• appointgj •$ naw and Mr J pears and Mrj S Thorold were iew*wii•d as CA)-OPtadvo Trustees 1clIng Ihe explry of their temis of appolnlmenl by fKdn¥he County Coun¢il. Thè f1 det3as afthe ¢harWts truste95 throthutthe year are ¥hovm on page 1.
COWLEYS ENDOWED SCHOOLS FOUNDATION Trust••s' Annual Report (¢ontinu•d) lor thè yèar •ndod 31 March 2023 ObJ•cts and publ1¢ bonefft The prlncipal tibiecls of the charity is to wovide eddana1 lund$ fy educatlcnjl purposes beyond those nomially provided by the LoGal Eduralicn AulF¥Jrity- The benefi15 Bre distributed 85 ihe truslees 9ee fft Ni the Parfsh of Donirglon and the gurrounding ale8, in accord8nc¢ th lh8 sch•m9 of the Charity. This enablo3 the Partsh S1ety to benefit In boih th• $hort and long t•rm from the b¢•1 ¢hll¢Sren reGeivlng a mora roundftd oduGatlon. R•vlgw ol th• a¢tlvlll•• Tha trustetr8 are satlsfled wilh the progr4ss ofthe chadty •nd bdlevo that it Mntlnues to me8t Its obl4cts. The f¢Bull$ ol Ihe char5ty forthe ar• shown on page 6. The eharSty18 luryded by InStment incomè. Durfng y•ar, thg ch8rfty dlslributed £64,340 In dir chartiablÈ expenditrjre and other dibUt40& The chartty SB ewcted to continug wovldlng suth a88lstance lor th8 foreseèable future. Durlrw the cuTh&nt yt•r. Ihg fwr valu• of th• vBrfou5 nlmentS hekl to ynerale Ihg •bovè funds h•s de¢Ra¥ed by £105,591 to glve a v•lLr• of £2.031,938 8131 M4r¢h 2023. Grant m•klng pollcy Beneficiaries wt Inwted lo Apply for gran18 and As long as they compfy lo ihe Scheme of the charity. will b• ACC8plad. The lemi b&14dar5 appl lo persons of elther gx who have not altsinod Ihe age of 25 years. who are In Ihe cplnlon ol the Governors. In need of financlal assistan. who are TgSldent or havg rIded for Portod ol noi less Ih8n ye8r¥ In the P8rl$h of Donkn9lon or In ol lh• neighbourhg p911sh, ond who •r• about lo alt4nd. aT• attending. or have not fof le88 than rI years attendgd, one or other ol the Sth¢ol$ of thg Foundaljon. IfN•vtm•nt re¥law and poll¢y The Fuundallon's Investment portlollo ha8 maintained Its Value In Ilne ludu8llons In thg stock marK¢l generally. The TrLsslee8 remaln In regular contJGI Vhth their financial a¢Jvl8or, Mon8ymlnder Fin•nGi81 Servlcos IUKI LIO. for on any Wvdlble chJnge8 lo the invellmenls In 0er lo pr8s•rva the capital •nd malnt41n tha in¢om• vthkh lund8 grant mlklng. Li81•d inves The Governors mget vhth Money Mlndertwlce yeorty to raeW the pertorrn8rtu tx the inve8trn•nt managers •nd •n6ur• Investrn•nt# ar• In m•dium to low r16k funds 4$ shovm In the •ch•dulè 4)n p•y 15. Ca The Portfollo is managod by Money MinJ¢r (UK) Lnlt•d, and admlnLslèr•d by GNC CapKal Markets, Ind ¥how8 8n avwaga revenuè ylèld o13.05%12022- 2.02%) b88¢d on falr value and 3.08%12022- 4.14%) bosed un the Investment CQgL Thè overall fall In the fund in lh8 yw Is 4.34% (2022- growth 8.51%) but the overall gIh18 2.88% on ¢osL The portfollo 1$ also rnanag•d by Money Mlnder (UK) Limlled, and adminisl•red by Slandard Life, and Shows an average revenue weld of 3.45%12022- 3.45%1 based on fair val. refiecled a IncaSe in valu• of 6.80%12022- 6.80%) based OD the Snvestmenl cost. The overall incrna in value from initial inv&slmenl Cost 1.14%12023 - 1.14%). RF¥k as$o$$mgnt The Iru5tees have assessed the rtsk8 fadng the tharity. b¢liwe rlsk$ are Minim In that majoT income is receivèd from charity based unil trus1$ snd Ihe Investments providè a balan¢e ol incorne and Ca1 grow¢h. Dug to the negllglble naturg oflhg risks. no fvrther actK¥n¥ are wldered nece35ary.
COWLpfs ENDOWED SCHOOLS FOUNDATION Trustees, Annual Rèport {cOntind) lor th• yoar •nd•d 31 March 2023 Rwor¥•$ Poll The Iru8lees maint81n a r88er¥ fvnd lo cover th¢ eo8t of tree m•intén8wi TAtyk ty¢ the Found•llon'8 aileJ ¥ftd currently d•p0811 £1.000 pèr annum Into ftmd. Gokng Conc•rn The Trustees have contlnued io miewlhe impact of Covld 19 on Ihtr opeTaUon of thè Foundation. Thè granl meking arlt¥itks of th• Fourthtion do not involve any dIrt Gontact wilh membars of the pl1¢ 80 the aro no safeguarding Issue8. Thg Foundation's Inv•8lmenl portlolto hgs larg8ly rocov•r•d th• IrAse8 m•d• In March 2020 In lin 8to¢k mJrk•t at Ihe start ol Ihe pandemic bul thè ongolng impa¢t d the Wotld Economy and the slluaticffl In Ukralne contSnues to Impact on fund vlau. The Trustets8 r•m8in In regular contact with their finandal advisor, Mon8yThlnfl8r Fln8ncial S•rvitss {UKI Lld Icr advlce on any possible chg•S to th• kibwlm•nl$ in ord•r to pre8•Né th• capttal and m8int8ln th¢ InM• which fiAKl8 want rnn9. Playlng fl•ld¥ A reque81 waL4 r•c•tv•d from th• yo¥ l)on¥ Footbill Club to be gr•ited A I? or Itc•nce to ¢1mi Ihoir ght to use me football pltcheJ al thé réal of the Prlmary School. Thgy requlre $Lr¢h formal confirmatton lo 8UPPOrt applicèlw$ for lundlng to develop thèir fKllits•8. Thg Trugt•g5 •9ro•d to thls reque In wlnclple and are Ilaldnu wilh all Interested partTe¥ to try •JKS co-ordinole the us• ol th? p'n9 liold M•ur$ Long8laff$. 8wv•yor•, were instruGt•d lo C¢51d•r th• b•sl way forward to market tha tenn1$ court 911e lojloww confirmatlon fr* th• South Llncs Aca¢J•my that il no long•r to us• the cryJrt$. TPNg m8tt•r 1$ ongovw. Thoma8 Cowlty Hlyh School Thè ThomBs CovhyAcad•myTruyl merge vith thè Soulh Llncoln$hife Academy Tru4t In Septb•r 2022. SL4T ha8 Ild$ed vAlh the Found•llon ¢er the dwelopmenl of the Academy. ned on b4hdfofth• Irw10 I IJYI J. R. Wrny (Chalmi8n} 2023
Indépendent Examlnerf6 Report to th• Trustees of COWLEfs ENDOWED SCHOOLS FOUNDATION l ieport lo the charitytruslees on my ex8mlrwMon ol Ihe acGounts of the carity for the r4ar onded 31 March 2023. which are sel out on pages 6 19 14 R•¥pon$lbllltl• and ba81¥ of r•port A8 the ¢h#rlV$ truste85 you are responsi* for th• preporatlon of th• aceounls in accordanGe th the reqrement ol thé Charttles Act 2011 (Ih6 A¢t). I report In raspect of myexamkn8tlon of the charW$ accoun carrier out under 54JCtlon 145 of the aG¢ and In ¢INj OLtrt my gxamlnaii¢)n I have folkywed 811 the applica8 Dlrection5 gwen by Charity Commlssion under 88Ction 145(Sllbl o11he Act. Ind•p•nd•nt •xamln•f$ •tatom•nt I have completed my examlnotlon. I conffmi that M m•leri81 matt•rs have coma to my aitefttion ¢¢th•¢tion the ex8mln4ts.on gl%Ang m8 Ca8? to bdiévè Ih&t In any maleilal respe.. accounllng re)rdS wore not kept In r•8FeCt of Ihe ch4rfty Tequlred by 130 of th¢ Art. or 2. thé accounts do not a¢cord th th080 reccYd•. 3. the occounts do Aol ¢omth tha appll¢able requlremenls conctrnlng thè fom) ¥nd conl•nt of accounts s•1 out in the Charities (Acc¢unl$ and Reports) Ro9ulations 2008 othgr than any rnqulrement that Ihe accounts glv• a and fair vlw/ %%thich i¥ not a mattorconslderod 8$ part of an hd8péndt •xamln8lion. I havo no concems and have come aeross no other matters In Gonn•ctton wlh th? examlnallon to whlch allenllon #hould b$ drawn in this report h order to enabl• # proper undertslandlng of the account$ to b• rna(h. Moorè Thornpson Chartored Accountants Spaldin9 ..2923
COWLEY? ENDoweD SCHOOLS FOUNDATION stat8nnt of Flnanclal Adlvltl•s the year endod 31 March 2023 2023 P•mMn•nt Endowm•nt 2022 G•n•r•l Fund Nol•• Total Trtal Incom• from: 74.830 74,830 71.621 Totsl Incom• 74.830 74,830 71.821 Exp•ndltur• on: Raiskng funds Charitablo 15,704 71.107 15,704 71,107 18,1)26 70.885 Totsl •xp•ndltUf• 88.811 88.811 86,911 ILVS} I gains CY Inv•8tmwl 886el$ 6 a 7 (105.8911 (105,591) 133.448 N•¢ mov•m•ni In lunth (11.981) {105.5911 {117.5721 118,158 R¢111•11n$ ol fundj: Brought for*Mrd {18.333) 9.154,639 9.136,3rxi 9,018,148 Cairf•d forward {30,314) 9.049.048 9,018,734 9,136,308
COWLEYS ENDOWED SCHOOLS FOUNDATION Balan¢0 Shoet at 31 March 2023 Not•s 2023 2022 Flx•d a•¥•ts. P•rnianèn¢ Endowm•nt Land and propety Inv¢8lM•nls Wrap Investments 6.948.182 1.080,891 951.247 8.948,182 1,142,523 1.006,797 9.097.502 8,980.120 Curr•nt ••$•t• Uoyd8 ¢urreni account Uoyds buslnéss Instant acces8 Gash held by invesimenl rn8n•ggr$ 20.308 5,839 13.559 28.137 5,828 9.179 39,564 39,944 Cr•dttorg: Amount• falllng du• wKhln on4 y• 1960) (1,140) N•t current as#•ts 38.614 38,804 Totrl ••••t l•¥¥ curr•nt Ilabllhl 9,018,734 9.136,3Q6 A¢¢ymul•i•d fund• P•rm8nenl Èrthvrnenl Un119d fund6 12 9.049,048 {30.314) 9.1S4.839 118.3331 11 9,018.734 9.136,306 We approve Ihege flnenc181 stalemenls and conllrm that we have made av8118ble ¥ll rd•v8nt records and Inlom)alton for IheiT weparation. ON BEHALF OF COWLEY'S ENDOWED SCHOOL FOUNDATION J. R.Wray (chrMan) Mr. M. RollSnson Chairman} ..2023 Dai. . 2023
CObVLEV8 ENDOWED SCHOOLS FOUNDATION Notss to th• Flnancld Slat•m•nt8 forth• year frnd 31 March 2023 l. Aecountkng polic1• ch8rity is an unln¢orporated charty fegistored in England and Wales wth th• ChaTIty Commission, re9istratlon rber 527291. The tharills regi$ter8d address Is Dembl•by House. 12 Broad Street. Spalding. PE11 1E& Tho prlnctP418CCOLmlkn9 adwled th tho pr•paratbon ol ltte firncIal 8talements are Set out b•low (a) 8asi$ of pryradon ol lknancid statements. Th• 3c¢ovnt8 have been Pfapared undèr the h18tOfk co81 eonvonlion vhth It•m$ roc4gn15ed al cost or Iransaclon value un8 othe11• Staled in the relev8nl notes lo IWe accounts. Th• fingnclal 8lat8ments have b8gn pr•pared in accordanco wtih Statement ol Recommended PractiGo' Accounting 8nd Reportlng ty Charilles preparro thr a¢cwS in 8¢0)T(Iwte wilh the Firw R8portln9 St4ndard appcab in the UK and RépLFblK of 5r8land IFRS1021 rs5[d in October 2019 and the CharfUeJ Act 2011. {b) Incomlng resources All In¢ome18 recognlsod In the 8t8t8m•nt d finonelal octfvrtle• when the con¢tioni for r•c•ipt h4ve b••n mol artd thef• Is r¢a$onable a88uranc• of rnceipt. Wher• A claim for r7¢nt of In¢om• tsx ha8 or 11 b• mad8, 8uch ineorne Is grosmd for tha t4x r•coverAbla Inv•slment Incon• Is r•¢tyrfBed In th¢ K¢QLml8 In tho pertod In vthlch Ihe ch•rty li ttlOd to Income In rèyct of any d881gnat•d lund8 l• allocal8d lo tm rèlevant fund on •n actual e#m•d b#sts. Income Irem wr8Ung lea8e818 bwht into the St•t4meni of Flnanclal A1.11•1 • Ilne b•1 o¥er th• lerni of th¢1o0M. Icl Resourcés expended ExpendSture is Indudvd in th• Slatemenl of Financial Acii¥iti08 on an awuol8 basls and hal bo •lk¢aled a8 detallèd bdow. Costs of g•nèr8ting funds Includes th• ¢0518 ol the •ctr¥S d•fm•d tyth• ¢h4ftl aM)s for Iho bfjno111 stated In the ¢harity8 obJe¢t8. Support C08t8 aro alkn¢at•d on a b•8108Imat• ot tlm• spent on th• porll¢ul8r 4eUvtti Govwnance costs Olude the costs whlch relate to th& 9on•r•l runnlng of the charity •$ opmd 10 th• dlr8ct manaymgnl fvnCti Inh•r•nt in g8nernJng lund$ and program as wclect works. Grts payat)l• re¢ogthd In the Statement ol FInCl A¢tty18j %then ttw h8 bTr •pprov•d bylhe tru6tett ccmthl.ons for payment h• tsn 8aYsfted. 14J> LarKS and prowrty The land KI property w a pemianlnl endcffi)eni •nd h• been Includ•d tn t accounts at Its fwr value. lel Inwstrngnt5 Quoled Inv•$lmoMs ar• v•bAd atth• mtd mJTket prt• al th• do8e ol al tha y•ar If) FurKI accourrts The Pemianent Endo¥wnwrt lund rgpr•s¢nl$ Iho#¢ aJ¥•ts which mu bts fdd pemianenyy by t charlty. Income ari5wig from the end(ywmenl finds, pn"marily the land and prffjerty al Doninglon can be used In accordan¢e vilh thé objects ol the Charityand is induded as unrestrlcted llme. Any caF4fd gain5 or10s899 orising on the propetyfomi part ef the frmd. Ggneral fund are unrestrrted funds which are avaIlab for use al the d(10n of the truees #i the furtheTJnce of Ihe general objects of the charity and have nol be8n (tejignatsd for ¢)ther wrpose¥ Daslgnfjd funds comprffje wwgstrKted fvnds that have teen $•1 ashle bytr* tru8tè•s for p8rttcar purposes.
COWLEYS ENDOWED SCHOOLS FOUNDATION J• Nota5 to the Flnanclal Statgm•nts (contlnued) for tho y90r •nd¢d 31 March 2023 2. Inv•8tments 2023 2022 Bank Interest Dlvldend$ Wrap InGome 2.005 42.479 30,311 35 1,769 33.098 36.719 35 74,830 71.621 $. Rl•lng Fund• 2Q23 2022 Wrap inv•Stml M4n8g•t charges Investment man•g•r• fggs Clwk's f•tr& 11.909 320 3.475 12,407 144 3.47S 15,704 16,026 2023 2022 CharS1obl• ac16vitiu.' Grnl$ lo former pvpls vIr & ¢huhWardtn8 Chwlty Gr8nls lo Gulde$. 8rowni•$ and RaInb 7,2SO 90 3.000 1.500 20 3,000 School grants.. Donlnglon Sewidary Donlngton Primary R•palr gnd M•INance. Tre¢ fund 25.000 25.000 40,000 20.000 64.340 84.820 Support co•t$' Stollonery, postage, In$urance and 8undri•8 Clark's ts18ry Leg81 and profosstonal fves 128 3.540 3.540 4,432 3,540 Governance c0818. Indepgndgnt examiners f•8$ Cleik's lee8 950 1.385 1,140 1,385 2,335 2,525 71.107 70.885 IÉ
COWLEYS ENDOWED SCHOOLS FOUNDAnON Nots8 to the Flnanclal Stat•m•nts leontinu> for th• year ended 31 March 2023 ro ow a) 1 and 2 Viryinia Cottages The ortginal cosl ofthe88 Is kTrJwn. Thoycrynpnse a palr of $eml.dolaclwd hoLW. bulll ovw 100 year# ago. which •r In g¢)od 8lruciural and decorgttve repalr. Th school took ovar lh• KGup4ncy ol th? cottaw, der o lomal lea8è ayr••d In Nov•ml)w 2013, lo ullllse as •dmlni81ratlve farilllle8. Thè xhool pay rk)mlnal rent bul Ick u4•r rdated ¢08ts ol runnlng and maintslnlng the cottagès. b) Lond of 1.895 oGro8 (approxlmatoly) land h at Iho of Co¥Aey Hou88 and waa form¥ty uoed a8 a garden for Ihe 8thor sthcd. 1118 still u8ed In part 0$ tenraa cowts. } Land al L8no Th18 58 $Me olts prknary 1. d) Pt•yng fhtd Thi8 IAnd14 bLwnded by S¢h¢xl Ltrn. 8•Jg•t• •n¢ QLAdrfNJ Road •) Mn Socondary S¢hool Slla fj Y¢kn Club Premlws Thèse Ff4m18es, in ScPthl Lan•, t>oninglon w•r8 let to th• Trust••s of th• Donknglon Youlh Club bul th18 le& wa$ 8tsrr•nderod on 21 July 2010 •nd tha School occupi•• and M•irrtaI th• bulldlrbg. g) Headm8Sterf8 Houae On slle prémme. All Ih818nd and propety Above wore at 1st April 2010 In aGGordwK• the r•qulr•menls of th8 Royal InsUlulion of Charteod Surveyors Appro1$81 and V•luation Standards, 5th •dition. Thg valuation conduct•d by R. A. BuY&r MRICS of Mouthel BUne$S S•r¥ic•s Limlt•d amounlfjd to £6,948,182. Th? truste•• arg of that lh• costs of obtalnlng • wole88lon•l valuallM ?XCthd$ Y bengfil •¥ rbo di6pogal woukl b• •xp9cl4d. Tho Iw•l••$ ar• ofthe opkilon thal Ihwe li no m•lwl•l dlff•renca In th• current lalr value 2023 2022 Fair value al 1 Apnl 2022 Additlons at (Los$l I gain r•v4uoti F&lr ¥u* at 31 March 2023 1.142.523 1.047,2fj1 eo 95,182 {81,9291 1.080.691 1.142,523 See th• scheduk• on pag• 14 for a brnakdgwm ofthe Inve$tmenl• h•ld at 31 M¥rch 2023. 10
COWLEYS ENDOWED SCHOOLS FOUNDATION Notes to the Flnanclal Statsm•nts (Continuod) for the yaar •nded 31 March 2023 7. Wra Inv ImeTht• - P t Endowmw 2023 2022 Fair •11 April 2022 Addilans at cost Dispos81 procaods (Lossl I galft on revaluation 1,006,797 25.611 137,499) (43.882) 974.130 43,491 {44.442> 33.812 Fair valLX al 31 March 2023 951,247 1.006,797 S•t the h•dle page 14 ILY 8 brukdown of tha inv•itm•ni• held at 31 M•rch 2023. 2023 2022 Independent &MIne1$ lees 950 1,140 tr Th• chartty IB oontrolted by th8 Inislees a$ • body and no IndW•l doe• ry could •x8rt (y)nlrd. 1Q. T No rwiuner81ion dlf8clly or widiroctiy out of the funds of th• wa8 pald or payat40 for lh• J**r lo any INBtee or lo any POon Dr prson8 known to bè ¢OMe¢led wllh any ot tham. No relmburs•m•Nt ol exp•nue8 ha$ been rn•d8 or l¥ dLSe lo be mad• to any olthe In Tespoct of Ihe year. 11
COWLEYS ENDOWED SCHOOLS FOUNDATION Not08 to tho Flnandal Statements Icontlnuod) for th• arended 31 March 2023 2023 B•l•nc• at 31 MOTch 2022 Not movemonl In e•• R•VU0tltsR D•slgnatlon8 Balanc• at durfng the 31 Aqareh 2023 Dgslgnated fund.. Tree lurKI 3,012 (21,3451 {4,ODOI (7,9811 1,000 11,000) 12 (30,326) 118,3321 {11.9811 130,314} 2022 laft¢• At 31 PAar¢h 2021 N•t ffKJv•m•nt In M•our¢•• D•¥l#natlon• 8•lan¢• It durlng th• 3Q MaKh 2022 R•v•lu•tlon Do11gnat•d furvj: Tw lund 1.008 <4,051) 1,000 11,000) 3.012 General fund 116,2941 121.345) (3.043) 115.290) (18,333> DwlrvJ Ihs yw. Iruslee$ decld•d that tho LloydB bu8ln•58 IrAtsnl acc•88 account $fK)uld bè d•8iw8l•d as a Tree Maintenance Fund. Th¢ intènllon is to translor £1.OW p&r annum into the account tn ord•f to up th• re8•rw4. 12
COWLEYS ENDOWED SCHOOLS FOUNDATION Notes lo th• Flnanclal Statements Icontinu•d) for th• y?ar •nded 31 March 2023 nd anal I 2023 G•neral Fund Permanent Efidowm•nt Total Fund* FIMd 4$s•15'. Land gnd pn)porty Invesimtnts Wrop Invesbnent 8.948.182 1.080.691 951,247 6.948,182 1,080.691 951,247 8.980.120 8,980,120 Curr•nl a$t#.. Ca8h 01 bank 39.564 39.564 Crethtor8'. Amounta falwng vitthin on8 y•Ar 11.122) {1,122) 172 1950) 9.018.734 9.019,856 2022 G•n•rnl Fund P•rman•nt Endowment Total Funds Fix•d assets.. Land ond propefty IrN¢stm•nl$ Wr8p Invostm•nt 6,948,182 1.142,S23 1.008,797 6,948.182 1,142,523 1.008,797 9.097,502 9,097.502 Current ¥910. Ca$h at bank 117.211) 57,155 39.944 (17.2111 11,1221 57,155 39.944 Cr•diiors.' Amounts 181Yng du8 wlthln one y•#r 1181 {1.1401 118.3331 9.154,639 9.136.306 und com ayatlv St•t•m•rrt of FIMnel•l kntlvltl•J-2022 G•n•ral Fund P•rm•n•nt Endowm•nt T¢)tal Fund• In¢om• tr¢m: Investrnenl$ 71,621 71.621 Total In¢omo Exptnditur& on: Rai¥ino lund$ Charikble aclNitIgS 18.026 70,885 16,026 70,885 Total •xpendltur• Galns oft In¥e$trnenl 8$8¢18 N•t In¢ome l {•xp•nditur•> 133,448 90 133,448 133,448 118,158 15. 13
COWLEWS ENDOIYED SCHOOLS FOUNDATION Schedule to the Flnanclal Slatsments for th• y•ar •ndad 31 Mar¢h 2023 FSrValu• at 311103122 Co•t HoldlnH at 31103123 Charfues Proporty Fund BNY man Nvth Global 241,904 2LKI.000.QOOO 252.322 273.8È8 2.101 1.985.4080 4,148 Cozenove Chwity EqLity FWKI Ch8rttl•ts Offldd Inve¥lm•nt Fund Incom• Sh#rnJ 123.171 58.105.1400 259.381 288,528 97.921 100.197 14.015.5400 14.752.8510 75259.0900 262,283 276,229 233,052 88.670 M & G Chafifund 219.603 & G Charlljor 97.511 82,740 1.080.691 1,142.523 StMd•rd Lile Wr•p InvKlm•nt 995.214 951,247 1.006.797 2.031.938 2.149,320 14