IIEGisfERED CHARITY NUMBEFi. 527594
Flnanclal 8tat•m•nts forth¢ Y•ar Endod 31stAuqu•t 202S
l)J•on Eliz¥bbth l Foundatlon
The Sandy PartnersNp
Thomdoe Hou9a
25 B8thum? R
Wrrnter
Worr*t¢rshhg
WR11RU

Que•n Eknboth l Found•tl¢)n
Contsnlj of Financial Statemonts
forth• Y•ar End•d 31•tAugust2025
Report otlh•TnMts
1 to 4
Independerrf Ex*nln•f$ R•port
St*•m•nt of Flnanclal Acdvtt106
Balanc¢ Shegt
Nutes toth• Fln•Kl•l St*t•m•nts
B to 15

••n Ellzab*th l Foundation
R8port ofth• Trust
for th• Y••r Endod 318¢ Augu•t 2025
Tha trustq85 Iye￿t thek roport wilh the ffinancial $tste￿*nts of the cknarity for Ihe ye8r ended 31st AugLLSt 2025. The
Iwst88$ havo adc*)ted th8 of Aecojnlng and Rep)rting ty Charities.. Stgiemnt of Rgwrnmendad Pradce
app￿Cabb 19 Char￿e$ pyeparfng ther acwunts in aecord8ne£ wth the Firt8n¢b81 RekKsrbThJ Standard 8prAle8bla In thg
UK Republlcof Irda1￿ IFRS 102) leffo¢tNe 1 January 20191.
OWECTIVES AND ACTMTIES
Obl•ctlv•$ and aims
Thg tharlty 0￿rat0$ wrthln an '8r88 of banafft. I￿n8d as thp 'an¢*nl parth of Hardeburf. Thi¥ area * SI￿hty larger
than lh8 ciYfBnL post-1974 Haruthry Parish adminlstrallve 8rea and indudgs PWt8 01St￿[port-Orf9vem.
Thg tharity has kn key
to pro%￿de ffinandal ￿$t￿nCe ￿ grants to Stojiwt Hlgh Sch(Kg1 * any clhBr scknool wfthln or substantidly
seMn9 Ihg area ol tenefft. These grants are lo provide such 8p￿￿8¥ benefft$ 95 are not wovldad by
th8 kjcal aUt￿rf￿- IM. $Ghoo14wel granls.. and
to'promcts thg edu￿ lincludlng soThal and physie81 lrrinlngl of under the age cl 25 yearn who a
res&4enl in the area of Lweffit and VA)0 are in need of financial asslstanc6'. 1.9. Indmdual grants.
Th? tru$t888 havè ijentlfied the folwng schools as qual￿￿9 for 5r1￿H0¥01 granis by virtu8 of th•ir I￿tIon wthin
Ihe area of b•nefft or tecause a 8ubstanltd propoth ofthelr 5tud¢nWuF¥15 live wllhkn the area ofbon•ffl.'
stwrport Hlgh Schc
Burfi8h Parf( Primary Schod
H?￿gbUry Prfrr*ry Sckn
st￿￿Ort Prim8ry Sch(￿1
Ilden Primary Schwl
P￿110 b•n•fflt
The Trustees c(¥ffirm that ttrw have had due Teg8rn1 to tlw Charfty Commtsslon% guid8nL* on publk benefft in dèddng
whal advknes Ihe tharityShou￿ undortake.
ACHIEVEME1￿8 AND PERFORIAANCE
Charitablg activWe$
Th last 12 monlhs have 58èn a poricKI of d￿n98 Bnd dèvelopment for the FcvndaDon. wlth departures and 8Thivds of
INstee4 changgs In Ch￿r and th6 ret*ement of wr Clgrk. Aongsyje th1$ the Foundation has re-l￿sed upon meelThJ
s kéy (*aiiiabl8 aim$ and has to deNDte Imo lo rts resp0nslbl1M￿ as a k¥L¥)•rty-0￿1er ￿d18ndlord.
Foundation'8 kngstandlng Chalr, John Sluart4mrfh optad to stand dowi and from thg Winnlng of 2024 was
rep￿(￿d by JIM QFpr. Unf¢)rtunatdy Jim Cupper w8a unat4e to conllnue the rokp and John Stuart-srnlth resurngd as
Chwr tempcthty. In Jim$ 8Xtond8d ab6erKe th8 board asked Poter Hc4den to b8 Int•rfm Chair from M8r¢h 2025.
Tharnafter Jim those nrrt ts re-•sgJme the Chair rgsponslbillltos 8nd In Cktober 1hS5 ygar thè bo¥d ¢>)nfiw￿ Pgt8r
H￿d￿ 8stheJrpTe8entCh•r.
Earty in 2ff25 the b)ard's ClarK Tary Morgan gave noticè of hls to r8Ure from hi¥ rote ar￿ the Foundauon ¢nloT•d
proc•ss of recTr￿tmonl intgrvi*ving candldates kn Jung 2025 and appolnung a new Clèrk. chrts￿ne Starfing tts slart
w.•.f. 1st Juty.
Is Imp)rtant to F4acg the FoundaUcffl* p￿ti￿jde to Tery f￿ hls remarkablp 58rvic• over suth 8 numbèr of
s.. servke bythètrustees at hisfinal meeting In August thls year.
Ms Slarfing* awriv81 In pogt offers tho FoundalAon c•port￿th$ to revbgw fts and proc￿Se$ and 8 F4JricrfI of
Frthemisiry and updokng 15 in progress.
Akjnpide Ihl8 kYOC*SS Ihg has rnlr￿nt of another long-¥•Nlng tsusiee, MrJ ¢arDlin•
BOught￿ThOmaS lin Juty thi5 ￿al). Cwrjlne has bp8n a 5￿Un￿ and acfve truste¥ ovw many year8 8TrJ. Agsln, It 16
n¥)st lrnpc¥tantto retrjrd hara thè boath gratilud¢ to her.
cu￿[ne& as one ofthe tsvo no￿￿n98$ ofth& Hathbury Padsh Cixjnol. B MTS Hèlen T81tr*)t (from Jutyl.
Chrf6W8r Rcg8fd. lh• noNMnee of the County Cwnul, lost h1$ seat as 8 counci￿r In May 2025 hxal 818dt)ns; hls
sUcces￿r as rnmlné& Is a t￿ndlor, lan Cresw811.
Pag• 1

Qu8•n Ellzaljeth l Fo￿d￿tk)n
Roport olth• Tfi￿t••$
forth• Y•ar End•d 31Stp￿9￿8tZU1s
The bDard had b88n awarn of • ts¥wnd+h8lf y•ar p•rSod lfrThn the bewning of 20231 during vthich the Lhlversty of
BimilrrfJham had Mt nomlnated someone to be A trustoe. More ￿Used liaison b8th8n Chalr and the ￿￿er$ty thls
8ummwh85 led k* the w4com8 appoinlmènlof PrufAndrew Quhn. wthose slart is antiipatod S￿rty.
During thi8 year trThrd has piv¢n lthe lo athJM$lng tha extent it16 meeting it8 key aMnÈ- maklng
grants to ￿h0O18 and to Indivldual¥.
Atccrthgty the Fwidakn now ha8 trU8t￿ gNen thg tssk of I￿reC￿ li•i%ffj wilh tt* five be￿n9 Khc<48;
Ic¢alng Iho tsyo a target budget for grant•making. truslO98 14v• mèt th Headteathets at SL*ool and
hav• ￿ta)I￿*hed qualty relatjws wbth all fi¥e.
l am i*os¢d to Yep)rt thls ha8 led to Snc¥eased wtamakjng to ts 8thrds In the knt year. vJMh a totsl Lrf £29,971 of
fijnds gcing t￿rd imptstsnt and d•arfy b8n•ffidal Sryrovemerts at all the fv9 8chools. alcwvJ *ilh a futh•r £IS.e69
8wardad.
An erthur8glng offshoot of this Increased 118lson has beon tho 1¥oatkJn of a partner3hip grant 8chTh vrith th• Stourport
SClTh tgather tralnlng progr8rnmg. BuJsarf85 aFB now avaiLqbJe to qualifying IndMdu81s who appty to the SCtFt and tha
Foundation is pbased this ParIn￿Ship help relain talènt￿ Ic￿1 profess¢onals k+ beco￿ te8th8rs in our ojmmuwmty.
The Fcwndabon ￿ 8180 been pbas8d to rn8k8 a nUrn￿r of gr8nl8 to ind￿ldUd$ thL8 year, these total￿ £2,646. Wo
aro, nonethel￿$, aware of the low nurnb8r of indi￿tha1 applicants, and tsvo trustees havg iakw up
F4)nstMIty for athjrtS￿nll this. It is intend•d tlw ￿11 U)6 profile of the Foundalon In local media. on 80dal
medla and In the five sthools. *ilh thg aim of rg8¢hui9 on irKTrasad Mny and number of potenud applicants.
The FLwnd8thon is elgrt to it8 respJns*Jility to ensurn arwj den*ffistr8te good govemence thr￿j￿ pr(per yo¢•duM
polioos for finarKial contrc4, safgguardlng. etc. ￿*44n￿ *Ld updating thos8 koy planks of gov•manco 18 a prime SJOJS
forthe ujming ye8r.
The Fwnd8tlon rewns b key r8swnsbllSty 85 Ihe owr*r c4 thè Quaan Ellz8t*th Gramrnar s￿￿01 Iwldlngs In thg
centre of Harlle￿ry wllage. This year o)r6sKlerabb tnJstè8 timè has b8•n tsken ￿ a range of matters aii6irvJ from
mal)tsnancg and caro of histoJic buldiro$, thwr wrrounds and adjrAning packots of land. Tha board Ls, 8￿[￿￿,
Ma￿ng klan6 to 8ddres6 ts obligai'ons, as a landkyd, to meet ontr¥l gov8rnment EPC taigots.
Liai50n aTrJ re￿￿0￿$ our tenants. Camtl8n Elltsbèlhan $thC￿l Ccarolgth Ltrfl. are good. At thg
ljme of writsng the Foundation has trwn approathed by the tenants to COn￿der Ihelr Flan to expand schcd pu￿1
numbws. This will ental co￿quentI￿ rl8n$ to make ch8ngts and add to ￿$tIng bulldings ykn an applicatM?n for
Flenning pernii8s￿n. This wll have a bearing on Ihg fvI￿ irfth8 aThJ it8 bJilding8, 80 ￿11 ￿ a FW(*sB of careful
conslderation fortrustees durin9 thg ￿nIn9 ygar.
l am pthed lo report that ￿ FoUndat￿n rernains ￿ good fAwIL¥tiI heath and ts In a Ime of exdbTrJ Ch￿tr and
dgvekfjment, workkng to ensur8 It m88ts ot4igBtlons and Its chafftablo aims, d•lN•rin9 tary118
to kjcal younger peot4e and
FINANCIAL REVIEW
Flnanclal pts•lllon
Unr•JtFiCtod Funds
Unresfri(*ed Inu)rnln9 resouw for the year £M￿nted to £119,320 (2024: £113,109). UNeslricled cutwing re8OUfCeS
amountsd to £80.731 IW24: £54,3851. A rn8de in￿6￿&￿t$ of£19,06612024: 9dn of £38.￿)51 In •thJIU￿.
transfers of £nil12024.. £32,106) wtra madè.
A3 8 rwtt. A unrestridBd surF4us WAS of£19.5ZJ12024 net￿￿￿8 ￿£96.7291.
Endt)wm•nt Funds
The b8Lqnce or EThJoMnènt lunds at 31st AL*JUSt 2025 siood at £1,140,432 12024.. £1,178.508I. A toss WAS made
on Inv85tsll8nt8 of£38.07412024: gan of£86.1201.
Tho bthn¢g 1$ uMealiWl&, as F4nnanent endowm8rt rrthey frryn (knorB nrxmBIty canrnt b8 span¢ tho
thvid¥r*Js and IntereSt*t*￿￿ from suth f￿d& may be used In accordance the typg of endowTn8nt.
Ov•rall Pojldon
Th• overall d8fidt has ¢J8(¥eased the (*arlU88 lotal rewves fJ.103,294 to £3.084,743. Of thls amourt
£1,944.31112024'. £1.924,7881 represents unrestthcted fvnds. tho rornainlng £1.140.432 12024.. £1.178,￿) hdd in
Ihe Endobrntfiind.
Free reoer¥es 8rn detalled In the Ye6erves fv below.
Full lnfCThiaUc￿ fe9aTdlTrJ fvnd movements and r98tr1thns ¥¢ dgtdlad in not8 16 to tho aLxoJnls.
Pago 2

Que•n Ellzab•th l Founthtion
Reportdth• TnMtM•
torthe Y•ar Ended 31stAugu$t2025
FINANCIAL REVIEW
Reserves polloy
The ttustees have vJn¥xlgred I pwdont to havg substantial rnserves urV￿ its r8s8rye p)licy tt> ￿de fcf
malnienance, reyair8. I￿ur8n¢* And otherujtgolngs should th8r8 ￿ a bss oftsnanl any rea￿n.
Free re$￿e$ {generol fvnds 19ss flxad 898ets and fvnds dgsignat8d other pup?Bg$1 Bt 31 A￿)USt 2¢r25 aM￿Nt￿d
to £206.043 {2024.. £167.454I, whith bAsÉd on ujrrent eX￿d￿jrÉ leveb of £80.731 I2024: £S4.3881 ewaie to
approx'matety 2.5 years12024'. 3 yearsl of wnning CL*ts.
srRUCTURI GOVERNANCE AND MANAGEMEKr
Governlng docum•nt
The ehartty Ls controllgj by b ￿vernIng doDAnenL Sthgmg of22 ￿1 1987, aTrJ ￿n8tth ￿ unSnrxxwJr*4d tharlty.
R•cNltyn•nt and #ppoknbm•nt ol n•wtru•tO•8
New trustèès are Th)minated (six posts) by a nominating trA)dy Istourpcrt TO￿ Cwndl. Ha￿8￿ Pa￿ c￿n¢fi.
Worostètshirè County CounrAI, Univ8rsty d Blm)Ingharn. H•rlletyJry c￿ Elkabethan'$ Assool and Ilour
Isl byth* t4)ard of thiJstee3. GSvin9 B total of ten tJusloo5.
Custodlan of fre•hold proporty
Tha froehc41 prowty ofthe Is vested in th8 Offic&g1 Custc*Jkgn ofCh8rf1*.
REFERENCE AND ADMINISTRATIVE DEfAILS
R•gl•t•rgd Cha￿ty numbor
527&J4
Prfn¢lpal addrn
Sun(Irift
v￿On8 Ro&J
D¢df¢xd
8619BZ
Trust••s
PHdden
A D Quinn1¥pp￿￿ted 14.10.251
H Tolt￿ lappolnted 13.8251
l R Crgsswell lapwjlnted 21.5251
J Cupp8r {appolnted 1.10.241
R lQrby
Jssrn￿
GPTh¢xp
C Bw9hton-ThJnas {r•si￿9d 5.8.251
C Rc#38￿ Irg5ignad 11.6.25)
M Cress•AI
lftd•pendent Examlnor
The Wc*aTd5 SandyPaTtheT8hlp
25 Barb￿m• Road
Worc4stgr
Wortsstershlre
R11RU
Inv8stmnt Manage
CCLA Investment Mgnagemgnt Limit8d
Orte Am9al Lane.
Lond¢)n,
EC4R 8AB
Pa￿3

rkn EHubgth l Fwnd4Uon
Reprytofthe Tru8tees
forthg Yoar End¢d 31¥tAugUStX125
owd ty order oft
lo
.. spJn8d ￿a￿trI..
P Fk•JÉn. TruGt

d•p•nd•nt Ex•mlnrf¥ R•port to th• Trttste￿ of
Qumn Ellzahth l Foundatlon
Ind•P￿d•n1 report to th? trustè•s of Qu••n ElIzab￿h l Foundallon
I report to tho tharity trust•es on my eXa￿￿8110n of the acmjnts of Que￿ Ellzabelh l FoundatKffi (the Tmst) fi)r
year 8nd8d 31stAugust 2025.
R•spoMlbllltles and ts￿1$ of report
As the thanty MJ*•e$ of th¢ Trust YOU are ras￿n￿ble for the weparalon of Ihe ¥c(X>Lffits h act¥Jréanc8 wfth tho
roqulrements ofthg Ch￿Ibel Art2011 C¢h8 Artl.
I report In respe(l of my exarrination Of￿ Trusf$ ac£ounts carrlad out under SectKJn 145 of the Ad and in can￿n9 o
my ex9mh￿￿on I have al appkabkn DlreL*on¥ gN•n by thè Charfty Ccmmissbn under So(*on 1495Mb) gr
the Act.
IndO￿ndent wimln•V• •tatsm•nt
I have conylet8d my èxamination. I c¥)nfiM that no matewlal maltw¥ have com8 to my alt•ntTr)n li conn￿on wlth the
examhauon g￿kng LXUSg to b81i8v8 that in any material r8SFecl.'
acuJunVfVJ rec¢￿j￿￿￿TO ngt kgpl in I•sp8rt of the TnJ51 as rewlred by Sectlon 130 ofthe Art
the accounts do not a￿ord w￿th thosg r9¢￿ts., or
Ihe acrA)unts do not cnrnpty thè appTrcabl• r•qulr8mnts conc8ming the and C￿ttsnt of aeecrtjrts set
oui In the CharfJg$ lAC￿Unts and Retthsl R8gulations 2008 other Ihan any requlrernent that thg give
a true and fairvw whKh 18 nrrt 8 m8tt8r conshlered Ès part of on IndependeTrtexamiTration.
I hÈve no wncams and havg wrne auoss no other mattgr8 in o]nn8c￿In wilh th• exarnlnalon to wthlch attwrticrfb 8h)Lld
be drdwn in Ihi5 rwvt ord8rto *nab￿ a proper understsnding ofthts acttsunts to ba rèad)￿.
Thg FOthard5 Sandy ￿rtn91$hlP
ThtxnékiÈ Housè
25 Barboum8 Road
Worr*stgr
Worce8ter8hwe
14lR11RU

Qu••n Ellz•beth l Foundallon
st4tqm•nt of Hn•nclaSActMtIès
lorlhè Y•ar End•d 31stAugu¥t 2025
202S
Totsl
fvndl
2024
Unr•strECted End¢)￿nent
fund
Jnd
funds
•s restated
INCOME AND ENDOVIMENTS FROM
Charitabl• a¢tivi¢io5
Supw*t &lue4ttonal Cppo￿nfQ$#
67.671
67.676
6fj.733
Inve8tffl$nt inc£ffiè
51.644
S1.644
46.376
119.320
119.320
113.109
EXPENDrruRE ON
Charitsbl• ￿tivItIeS
s￿)F(x1 edWe￿nal
80.731
.731
9wn¥llk)sses) on Irwestrngnts
119.0661
1340741
157.140)
124,125
NET INGOMEIIEXPENorruREI
19,523
1¥0741
118.S511
182,849
RECONCILIATIOM OF FUNDS
Total fvnd$ broughtfoNaril
I,V24.768
1,178,50fj
3.103.294
2,920,445
TOTAL FUNDS CARRED FORIVARD
1,914,311
1,140A32
3.M743
3,103.294
Thè notss fomi pgrtdlh88e fffjandal statsmgnts
9¢6

•n Elizabeth l Foundallon
BaFanc• Shèet
31¥t AUg￿t 2025
2025
Total
2024
Total
nds
as restated
UnrestrKxed
fur
Endowrnent
fund
Notes
FIXED ASSETS
Tangiblè assets
IrNestrnents
12
13
1.280,0
478,268
1,280,(#)o
1,615.300
1,2e￿.L￿))
1.672.440
1,137,032
1,738,268
1.137.032
2.875,3
2,932,440
CURRENT ASSETS
Debtors
C&%h at bank
14
11.195
230,461
11.195
233,861
179,218
241,656
187,172
CREDITORS
Arnounts falling due vathin one ye
15
135.813}
{35,6131
116,3181
NET CURRE1￿ A&%ETS
206,043
170,854
TOTAL ASSEfs LESS CURRW UA8IUnES
1,944311
1.140.432
1084741
3.103.294
ASs￿s
1,944,311
1,140,432
3.084.743
3.103.294
FUNDS
Unrestn(*ed fvrKIs
Endty￿ne￿t ftjnds
16
1,944.311
1,140,432
1.924.788
1,178,X6
TOTAL FUNDS
3,084.7413
3.103.294
The fina￿la1 statemwl8 were approved by Ihe Board of Trustees aTrJ authorised for issuè on
and were signed on its behaff by..
P Hoklen-
stee
The rK)tes f(ym part 0fth￿ fmanual *atements
Page 7

Queen Ellzabth l Fovndatlon
Not•9 toth• Flnandal Staiements
forth• Year End•d 31otAufUSt 2025
ACCOUPMNG POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
Thg finandal ststements of the chaty, whlch L8 a pul*Yc benefft entity undgr FRS 102. hav8 pr8pa￿l In
aetordartt wlth tre cha￿leS SORP IFRS 1021 'Accounting aTrJ Rg•g by Chadtl85.' SlatèN*nt of
Recornm8nded Practi¢• applicab￿ to Cha￿￿•5 ￿Paring their 8Cf*Junts in 8tcord#ncè w￿h thè Flnancial
Réporting Stsndard aFvIc8ble In the UK an(J Republlc of Ireknd IFRS 10211gffe¢tivg 1 January 20191,,
Fin?￿￿￿31 Rèporting Standard 102 Th• Flnanci81 Reporbng Standard apF4icabl8 in the UK Republlc of
oland, and thg Chartti￿ Ad 2011. The financial 5tatgrnorts hav8 b8•n prepared under the hkstorical
convenion, wih ts eX￿POon rf in¥estrnents whld) arè kncludèd at mgthet valuo, as r￿d￿l￿a by the roYalualvJn
ofcertan assets.
INCOME
Inwmg Is rocwn180d In the Statemenl of Finanual on¢e the tharfty has entilwnant to thg fvnds It 18
pycthble that the Income re￿fved and the amount can be rn￿ured relkgbty.
In¢xJmè frcm donatlong, grants and legades aT8 ￿0￿n￿ In lh8 ￿riCAl In whlth d)arfty
is •ntiNed to le￿Ipl and the amount can be measured W￿1h reasonabb rxrtainty. Income Irom gmnts i8
deferr*1 wh8n thg Gharlty has to thJMI o)ndltsons not yet mei before tw?rTth9 gnllued to ¥hr• tho dorLor
ha3 ￿p￿fied thatth8 in(>Jrng iyto be èxwded in • ftrture perfod.
R•ntsl kngjme LI recoJnlEad In Ilna Y411h lh8 P8ri0dB to such In(w￿ rdoles.
Intweet InL*ffl& 1$ r¢cognW for 811 Int¢wd-bgoring knsbumants th8'ellth Interest rate mdhod".
[J￿dends ￿ fvnd dlstrfbuuons are re£4n158d datJ*•d.
LiatMliUes arg re￿nISed as gxpgndliure as SO￿ 88 thoro a lagd (* (£ffjstrucfve Ob￿al(￿ o)rnmilUng Ihg
Charity to that eXP8nditure. r( is probab￿ that a transfer ef econcffi￿ benefits wlll be required in seffiement and
Ihe amcunl of the ob11gau￿ can te measured rellabjy. ExwnditrJg 15 ?ccountad for on an aEcJval$ bas￿ and
has been classrfied undgr headings that aggreg*$ alj cost reLqt8d to th• cat￿ry. Whefe c4)stS be
diredy attrftwled lo headln9$ tsy have baèn alktstsd to É¢￿VIlla$ on a basls wnslstert vath the
Grants offered subject io ¢ondMons Yknlch have not b*n mot at th8 ygar end dal• arn nol8d as a comwatment
but not acwad as gxpendituro.
TANGIBLE FIXED A$S￿s
Freehokl propety Is nol deprer#8ted on the bÈsi$ that rÉshlual vatu8 b èxpect&J to be Th)t less deemed
hlstortcal cost luslng historf￿1 martet a$ degmgd cost).
TAXATION
Th8 (*arity Is exenwt fr(￿ tax cffj tt3 tharftsble a(*vlbeS.
FUND AccouprfiiiG
Unrestrfctsd fijnds can bg in atuYéanco the chait*Ag oLiecbTrrtS atthe dls(¥don ofthe tnJ8te88.
Restrirted fvnds Can onty be u8ed for WtiGular r¢strlrtad ￿thin the ctsjeds ofthe cha￿. Rethcth)n8
atse wfien spgcifjed bythg dornr orwhen fiJnd¥ arg rak%8d fc*pwti¢ular restrf(*ed purposes.
Furthor axpknaliDn of ts nabjre and puFpJsè d•ach thjnd & Induded In the ncles to the fnancid staisments.
FINANCIAL INSTRUMENTS
The Charity has elÈded to 8ppty th8 pm1￿0￿ of Stiction 11. Ba￿¢ Flnancw In5tnwn•nts' and Section 12 '0ther
Fln8Klal kn8trum8ntslssu￿. of FRS 1￿2 to 811 ofils finan081 listruments.
F5n8￿￿?1 $rs rw)gnSsgd ￿en Iha Charty beC￿me5 pty to rAthctsl FKovlthns rf the
instrumgnt
￿8￿￿1 assets ar8 offs< Ihè nat amounts presonted In the acwmts thero thor¢ 1$ 41og41ty •nlmbl
light lo set off Ihe ￿0n￿led #M￿nts and there Is an intenl•)n to 8gtlo on a ngt basi# or to reahe the asset
and 581U8 the Irdiilty sirnultanBOU5ty.
Pap8

Qu•m Ellzabgth l FoundatFon
Not•• to thg Flnancial 8tst•m•nb-cOn￿nuod
forth• Y•ar Ended 318tAumist 21125
ACCOUIrnNG POUCIES- ctxrtlnuod
FINANCIAL INSTRUAIENTS
BBs5c Flnandal Ass•ts
Ba￿C finanry81 as5815. whlch In¢lud8 tr8dÈ and other rtwvabkgs 8nd cash And bank balance4 arè Inltlal
mea6ured at transaLlkx) Indudlng Iransacbon costs and are Subsequent￿ carri8d at amitwl cost uslng
the elleCt￿ interest mèthod urfe$s th8 arraThJement 1xx￿111utQS a finanuThJ tran5acUon, where the transaction i¥
m8¥ured at Ihe presentvalue ofthe fubjre r8ceSpts discourted *a rnath•i rate ofthteresL
Bas1¢ Flnanclal U¥b]Ihl8s
Baw ￿n*￿al 11a￿1￿$. Inc￿￿1n9 Iradè and othor payzljles. aro InMany rwnl6ed at tr￿$￿tion PriLY un￿9
the wrang¢m8nt ¢onsUtutes a finan(4ng transacbon, where the debt Instr￿snt Is measured at the pmsent Wdlug
e Trc8ipts, dIS￿unt￿ at a marw ratè of Inter66t. Debt Instsvrr￿nts are subsequenly carri8d It
am(thed co8L u￿1￿￿ th8 effeth Interest rate method.
Tr8tle peyat4es aro Obliga￿n$ to Pay goods or s8NlrAs that have b8en ao]ulred in tho ordinary course of
th6 Operati(￿$ fr0rn suppli*s. Accounts payable 8r8 d8ssffied as current lialihtw rf paymert is due ono
or less. Ir ￿1. th*y arg pr￿anted as nonw¢Urnt labilitie& Trade payat185 are rec4ywlsed initkglty *
Usted Inveth•nts
List¢d In¥8stsn8nts are Indud8d at fair vabJ8. t•lng their m¥k8t vatut. Re8ltsed gal￿ and Io¥*s cm $8k6 of
Inveth￿ts are caloJL8ted a3 p¥oc8eds ￿$$ market vdug at the siart of the peric4J, or c4)st If
purth858d during tho perfoJ, and ar8 induded kn the Statement cl Nnandd Advlues. Vnre8lwl gains and
Iossgs are iftdud•J kn the Stat¢m*nt of Flnanciql AclvltS0s, whlch tspr•s** Iho movwnent in vAlue
durinq thè ytsr.
C*Jh at bank and In hnd
Cash at bank and in hand Sndudes cash and cash 8qiivalents Ib8ing short temi hvJhty liqu￿ inv•5tmBnts
that are rOad￿Y tsjnverti￿e to kn¢Mn amounls d cash and that are 8ubigcI to an insignrfiwt ￿sk of changas In
vakjel.
INVESTME1￿ INCOME
as restatgd
knc>)mgfrom olhgr *gied In¥estrrents
Bank int¢rest
46.87
4774
43.397
2,979
51.844
46.376
INCOME FR&II CHARrrABLE AThTIES
2025
2024
Rqnts r•celv
P¥cpèrty inSu￿ce
reimbutsad
SupkYWtedL￿8tsOn81 opwrtsJnTbo$
58,MO
57,381
$UpF￿edW￿l0nal oppK)rtunths
9.372
e6.733
Pag¢ 9
¢onlnu8d...

qU￿n EMz•b•th l Foundatlon
NoteA toth• Ftn*¢lal StatÈm•Nt8. ¢ontlnu
fvrth• Y•ar End•d 31st Augu¥t2025
CHiJufABLE ACTivrriES COSTS
Grnnt
funding of
aclvltie8
18eg note
Dlrect
Costs Isee
)te 51
Support
co3ts1588
Tr)te 71
e)
T¢)tsl
SuFyort¢du¢aticvMI opwr1un￿as
28.517
32.616
19.598
80.731
DKIECT COSTS CHARrrABLEACTivrriES
2028
2024
as restatgd
Insuronce
Posla98 and ￿l￿)nary
Rental agencyfo85
Professlonal fees
11.190
10.7S9
3,486
11a41
5.556
24517
16,367
GR￿8 PAYABLE
2025
2024
8$ f8Stated
pp￿ted￿alonal ￿p)rtunI￿*S
32.610
2,￿0
Thg tolal grants paid to institulpJns thTrng th8y8arw05 as folk)vrn.
2024
as ￿tated
slwrport High SrAKK)I
Burflsh Park Pthary Schocl
Hardebjry Primary SC￿￿
WiJd8n Primary Sthool
16,950
4.020
9001
1.71))
29.•71
1,700
Thp totsl grants pgid to indiv•Juab during th8 y8arwag 49ft4￿.
202S
2024
Grants to IndMdu*
1,200
Th• truste89 hav8 AUthorf£8d c8rtaln grants durtng tho period are to thg rgcipFgni fvffiillng cert8ln
cond￿On& Th8 totst Or￿unt of gT8nts to but not acu￿1 as expenditijre al the ￿8T end was £15.669
12024: £15.th)1.
P•3$10
nlnued._

¢>J••n Ellzab•th l Foundation
Not•s to the FIn￿¢1￿ 8t4t•m•nts-¢onllnued
for tho Y•ar Endod 31•t Au9llSt 2025
SUPPORT COSTS
Flnanr
Olh
TLN8
Supporteducdlonal 0ppty1￿rf
18,256
19,$98
Support costs. Induded in th8 8bM. ar8 asfolbxY6:
2024
Suppcttt
educ8Ional
opportunib"8S
Tot
Bank ckng86
SundrT95
Cleittil Asslstan
RepaSr3 and maintqnanee
Costs oftrustee8' meoungs
Ae￿ntanry fees
290
4028
9.794
144
1.260
6.120
23,837
19a
4,891
19.$98
¥118
TRUSTEEW REMUNERATION AND BENEFrrs
Thore VrnTO no trusteeg remunoralion or olh•r benefflts for thts Mdgd 318t AUg￿t 2￿ nor for tha
ended 31stAugust 2024,
TRUSTEES EXPENSES
Therfj were no tru8t88s' pald tr th8 y•¥ ended 316t Auwt 2025 the yoar ¢nd&1
31stAugust2024.
STAFF COSTS
There were no staff c4sts fortho year ended 31stAu9USt 2025 nLYft¢the year ended 31stMAWSt 2￿24.
Pago11
¢crtlinued...

Qu••n Ellzabeth l Foundatlon
to th• Finan¢i41 Stal•m￿ts- ¢ontknu
forth• Year Ended 31•t Au9U¥t 2025
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNITIES
Unre8tiicled Endowment
fijnd
fund
as re8tated
INCOME AND ENDOIITrIENTS FROM
Charltablo aetlvW•$
SLI)P￿t edue4tKM81 opwJrbJnWes
66.733
66,733
Invtstmtnt I￿oMe
46.376
46.376
113.109
111109
EXPENDITURE ON
Charltabk a￿VItI•8
SUr￿rt ethrcalb)nd cprth1￿1leS
54J85
N•t gelns C￿ irfveslments
36.005
86.120
124,1Z5
NET INCOME
96.729
86,120
182,849
RECONCIUATION OF FUNDS
Totol fijnds brryjght forward
1.828.059
1.092.386
1920.445
TOTAL FIJNDS CARRIED FORWARD
1.924.788
1.178.506
1103,294
11.
PRIOR YEAR ADJU8Th1ENT
Th8 COrnPntNes have b8en arneThJ8d to rtcowlse land and bulldlngs donftt￿ to the c*arity when Ultr ¢harlty
was set up at an &stim8ied morkd value. Tanglble ffixed ass8ts a$ at 31 AwgU$t 2024 have been increa88d
by £1,260.OW {2023.. £1,355,279} and unroth.cted rese￿e$ es at 31 August 2024 have been In¢rtr8ssd by
£1,260,000 12023: £1,355,2791 with the on sale of land and buildings in 185t yeaVs acc(wnts of £95.279
now bgiNJ tro8￿ 4$ a dlsF¢)sal of (¥Jst land buildings.
The Ma50n lor this mstAtemrrt ts that %th•n the L*arty adow FRS 102 and SORP 2019 for th8 first
tim&. tha eompai8bv8s of fin8n(¥81 statgments were requlr&J to be restated to Indud¢ all assets Iwd
lit*s} Iwld by thè charity. with ch8rib.es SORP atso requlrfng that dcnatsd assets be measuTed at rnarkot
value * dat• of gri knyth th8 tranS￿onal oplon to troat a marfKot Val￿ at dale ol translth)n as an attemati¥e
valuatith ofd*m#il listorical wsi Tlts nOt￿￿e In Y￿r￿n81￿81 6tatem8nts.
The th8rity ha5 uwj a vafuation of land 8nd bulhjings pwfmed by Ray MRICS. RICS and Row8
Capps MRICS ol Newm)w* Gernld Eve LLP ￿dertaken on 25 Novembgr 2025 as the ba￿3 for thg market value
of lalld and building5 hekl a5 at 31 August 2025. and usSng the net sales pror£ed$ for the d88m8d rnarknt valuè
lor property hdd as at 31 Auwst 3)23 but sold In the year ended 31 ALVJU8t 2024, as W this was th9 dg8Th¥d
m*ket valua at the datè of donalon faF¢)￿n9 the FRS 102 tr￿￿￿one1 exgmpbon lo tr08t f•ir volue at date of
trans*Jon as deemed historfcal L¥)Stl.
The cornpardli￿5 ha¥• also b88n am8nded to show al knvesknent Intome qener8tèd frrNn ￿￿ted inv•slmanis
unreth¢Xed Income Irather than allocate som Invgstment Income lo thg Pgrn7an8nt gndowment fund and than
as a transfw between fvnds for the same wnwnll. Th8 [￿rY08 88 at 31 Au9USt 2024 and 85 at 31 August
2023 have noi bth) elfe¢t8d by thks ¢han9e.
Pagè 12
ntinU￿.-

Queen Ellzthth l FoUnd￿lOn
Mat•8 to the Finan¢thl Statemwrt8- contlnu•d
for tho Y•arEnded 31st August 2025
12.
TANGIBLE FIXED
Fre8hLld
property
COST
Al 1st S•pt8rnber2024
31stAugusl 2025
1360,000
NEf BOOKVALUE
At 31stAugu8t 2025
1,2611.000
At 31stAugust 2024
1,260,1XJO
11 FIXED ASSET INVESTIEpirs
LLsted
Investments
At 1st Septgrnb8r2024
Revalu81iDns
1,671440
157.1401
At 31stAJJgu8t 2026
1,614300
NET BOOKVALVE
At 31stAugusl 2025
1,615,300
At 31stAugust 2024
1,672.440
DEBTORS: AMOUNTS FALUNG DUE iyrrHIN OIE YEAR
2024
as restated
Trade d
Prgpaymants
2.711
11.195
1&
CREDrroRS: Amouiifs FALLING DUEV•TtHIN OIIE YEAR
2025
2024
as restated
Olhpr creditors
35,813
16.318
1&
MOVEMENT IN FUNOS
movement
fund6
Al 1.9.24
31,8.25
UnT8striel•d funds
Ger*rBI fund
1.9¥788
19.523
1.944.311
Porn￿￿tt EThlIyM￿nt Fund
1.178.506
(¥0741
1.140A32
TOTAL FUIU8
3.1032
(1&SS11
3.lJ84.743
Page 13
eontknu•J...

Qu••n Elizab•lh l Foundatlon
Notes tolhe Flnancial Stat•mÈnts-¢ontinu•d
lorth• Y•ar Endod 31•tAugu•t 2025
16.
AIOVEMENT IN FUNDS • c¢Jnllnu•d
mov8ment In funds. knduded In the abjve are as fdloM'.
In¢xJml
Rewurces G4rfj and movem￿rt
Its￿r￿ expended
Jnd$
UTrvegtrfcied lun
General fijnd
1113x1
INn1
119.0661
19,523
End￿￿￿OnthJnds
Pormanwt Endo￿nt Fund
1¥0741
138.074}
TOTAL FUNDS
119J20
180.n1)
157,1401
118.551}
CoM￿￿t￿l lor nJMm•nt In lund8
Not
movem8nt
funds
At 1.9.23
31.8.24
G￿1[81 fund
1.828.059
96.729
1.924.788
End0*7Mnt lunds
P•mwnènt Endowm*tt Fund
1.092,386
86.120
I.178,￿16
TOTAL FUNDS
2.920,445
182,849
3.103294
Cry8rnlv• Mt mov•mgnt Inlund& Induded in Ih6 at•)ve as folhm..
Inccxning
rosOu￿
Re80ur
oxpended
G¥in¥ and
10&89¥
MDv•m•nt
in fund5
Unr••trkt•d fvnd•
Gan￿￿r￿j
113.109
154.3851
38,CQ5
96.729
EndoYm)Mt funds
P8rrna￿n1 End￿￿)￿tt Fund
86.120
86.120
TOTAL FUNDS
113.109
154.3851
124,125
181849
Unrnstrlthd General Fund
This repr988nts monios T8￿¥•d wlthoul rosl￿Gthn as to appkAtion. The fvnd5 81• Ldills•J In gen•ral
ruming clthe th•1ty.
P•M)W*￿ Endovmwnt Fund
Tth re￿￿Thts ¢ndo*ed Invgstrn¢nts and cash hdd by th& thartty lo thtr th8rlty A$ per￿￿nant
9nd￿m￿n1[unds ￿ tha ffirst Sat up.
P•J• 14
conlinved...

e•n EftsJb•th l Foundatlon
Notès to FlnAnelal Stataménts. conthued
fortho Y•or Endod 31•tAugUBt 2025
17.
RELATED PARTY DISCLOSURE5
There wwe no rek1￿ party tranwticrn forlhè y•ar•nd8d 31stAugust 2025.
Pago 15