Charfty rogl•trntk*n numbor S27597 (England aml Wales) THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trust•O8 Mr D J BurTOW$ MrJKHodl Mr R P Monlson Mr J B Wilding Mr R Colllgan Clerk to lh• Foundatlon Tru8t•os Mr D J V Morgan Ch•rlty htsmber 527597 Princip•l address Lower HSgh Street stourbridge West Midlands DY8 1TD Audltor CK Audlt No 4 Caslle Court 2 Castlegale Way Dudley Wesl Midlands DY14RH Bankers HSBC Bank PIC- Slourbridge 114 Hlgh Street Stourbvidg• Wesl Midlands DY8 1DZ Solicitors Hlggs LLP 3 Watefftonl Buslness Park Briert8y Hill West Midlands DY5 1LX
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY CONTENTS Pago Tiusteos, r•port Statement of trusts85' responslbiliti8S IndeperKJent 8uditorfs r•wrt Statement of finan¢K818Ctivith85 Balance sheet Notes to the financial statements 9-19
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Tnjstees present Ihelr annual report ar•J finawal stalemenl$ for tho year ended 31 August 2025. The financial statements have been prepared in accordance wrilh Ihe accounting policlos sel out in nole 1 to Ihe financlal statsments 8nd comply wlth the Chaws goveming document. the Charities Act 2011 and 'Accounting and Reporting by Charities: Slatemenl of Recommended Pr8dce aprdicable to chanlies preparing their acfX)unts aCrd#e Ihe FinancAal Repthng Stsndard aFvltc&bie in Ihe UK and Repu1¢ of IrelJThl IFRS 1tY2)" (effectivè 1 January 20191. ObJ•ctlv•8 and aetlvltl•8 The pr6ndpal objects of the Charity are to supwt the College vthlch Is 8 further 8nd hlgher edu¢8th)n institution $kdalisTrng In the provL81on of slx1h fomi gducatlon to young people from Stwrmdge and $urroundlrwJ arèa$. T courses are provided on a non lee paylng basi6. In particular Ihe Trustees.. - prowde supplement thg Coll899 campus and The Green Fièlds to be used for the purpos08 of the Cole and Govemors - maintain and enhan¢8 th8 financAal T•soufcè5 of th• Chadty for the benefit of the Comege rècelve requests from the Goveming Body for financlal asslstance for tho support and development of aspects of tho CoMeg8 whlch are not funded by thè approprlatè edu¢2lonal fundlNJ body - remain responsible for the security and rnanagernent of tho FoUrKjati('8 hi$lorical archlv• - remain re5ponstsle for the Prize and Scholarship Funds The Tvustees have pald due regard to guldance Issued by the Charity Commission in dldIng what Bctivltles Chadty stK)uld undortake. Achievements and performance Signthanl activities and •ChvementS againsl objectlves The Foation TTuslees hove continugd to serve the ChorOty'$ obiaclives by pres6Ning, enhancing and prclecllThJ Its funds so that Ihgy $UPPQrt Ihfr Governors n tholr cwlrol ofthe managpment of the College. The Trustees continued their supwt of the College's enrichnent offer and the provlslon of Student Awattls for cAmUnIty engagement. Flnan¢lal rovlow The movement of for the year was £170,303 {2024 - Ththethnt of fvnds of £204,684) as delalled In the Statement of Financial Acliwlies on page 7 of the accounts. The w)sitwe movement of funds In 2025 •Kluded a revaluali)n of Investments of £17,37812024- movement of £121,104). The Trustees maintain 8uffKienl resèNes, being the bal8nce on unrestricted funds. to provide sufficient funds to enable the Charlty to continue to carry out Ils charftable oblects. The Trusleos review Ihe Chorivs redS for reserves on a reguLgT basis in line with the guidance issued by the Charfty COMMI$On. It b Ihe pollcy of the Charlty that unrestrlcled fijnds have not been designated for a spec6fic use should be malnlalned at a level equlvalent to btheen three and slx rnth'S expenditure. The Trustees consider that resetves at this levd wlll ?nsur& that, In th& gvent of a $lgnifi¢ant drop in funding. they wll be able lo continue the Charity's currenl activilios while considgralion is gwen to ways in which additional funds may be ralsed. Thls level of resery8S has bggn malntsined throughout the year. AIW rfsk$ RS$ks The Trustees aro aware of th8 ne8d lo assess th8 risks to which the Charity is expos•d and to sallsfy thon1¥8$ that systems are in Pla to expose 1he map)r risk5. A necttsary rlsk assessmènt has been carrled out durlng the
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Struclur•y governance and manag•ment The history of the Foundation has Its orfgln$ In May 1430 when tsvo I81 benefactcws, Rlchard aTrJ Joan Hayley, donated land and the chapel on the stte lo tsvgnty-two tfuslees lo provld• a $0 called 'chapel of ease, lor the parish thUh ol Oldswlnford and a grammar school for Ihe leachlng of grammar li8 Lalln) lo sons of poor men of the parlsh. The dFssolution of the monasteries In the 8lxloenlh century led to tha next phase in the life of thg 5¢hod. On th8 17th June 1552 Klng Edward Vl granted a chartor to the School lo eslabli$h a boys, grammar school, The lrnportance of the charter was that it came certain endowments of lands belng fom)er monastic propety although most of this endowment was expended on developlng th8 Schwl In th6 Nlneteenth and Twentloth Centuylgs. In 1989, In responso to the Govemors, request, tho Charity CommlssioneTS made a new Scheme under which the FOUndaon Trustees of th8 Charity b&came a body separate from tho College Govemors wlth the sole alm of sup)rting the anclent foundation of th8 Free Grammar School which hed by then become 9 Edward Vl College. Fc4lowlng amendments to the schem8 in 2022. thère are now soven Tfustees comprising: One ex-offlGlo Trusteo, being the Chair of the Local GoverniThJ Boty of the College OM Th)minated Truste8, being a person nominated by the Loeal Govemlng Body of the Collega Up to f4ve ccKiptèd Trustses Thp Tru$leg$ who seNed during the ar and up to the dale of signature of the financial statements were: Mr D J Burrows MrJKHodt Mr R P MoNison MrBRPrfce Mr J B Wilding Mr R Colligan Ms V J Smith (R?tir•d 2 February 2026} {Resignod 10 June 2025) Recmitmont and apw'nlmont oftrnstees Trustoes are apnted for their skills set which is considered an asset lo the furtherance of the objectives of the charity. On appointsnenl trustees read the guidance issued by the Charity Commission for new trustees. The trust88s' report was approved by the Board of Trustee8. Mr D J Bufrows Chalr of Trust•es 11 February 2026
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees are respDnsible for prepallllg the Trustees, Rew)rt and the accy)unts in accordance wllh awlicable law an(1 United Kingdom Accounting Stsndards (Unite(l Kingdom GenernllyAccepled Accounting Pra¢tica}. The law awAlcable to ch8rftles in England Wales requ lh8 Trustees to wepare accounts for each ffinanaal yw which give a true and fair view of the state ol affairs of the Charity aTrJ of th8 inc¢YnirvJ resourvts arKI applICaOn of restyJrces of tho Chailty for Ihat year. In preparing these a¢unts. Ihe Trustees are required io: - select suitabf8 antIng poIleS then apply them consi5tenlly" - ot¢eJve the method$ and prlndples In th6 Charftlès SORP 2015 (FRS 102): - make judgomonts and Bstimstss that aro rsasonablè and prudent" - stsle wheth&r appllcable accounllng standards have been folk)wed, subject to any materfal departures dl$dosed and explained in the ac(ounts,' and - prepare tho accounts on tho going InCoM basis LW)less it is inappropriate to presLFme that Ihe charity wdl contlnue in op8ration. Th8 Trust88s aro r8sponslbl8 for k88plng sufflclont accounting T0rdS that disdose vlth rèasonable accuracy at any time the financial positn of the Charity and enable Ih8m to ensure that the accounts comply Trmth th8 Ctk9rfU8s Act 2011. Ihe Charty (Accounts and Reports} Regulation8 2006 arKI the provisions of Ihe trust d8ed. Thgy are also responslble for safeguardiThJ Ihe assets of the Charlty and henc* for taking reasonable 8tep8 for the preventk)n aTrJ detection of fraud and other ivregularibes. The law applicable to charilias in England arKI Wales requires the Trustees to prepare financial Stalemonts for eath financial year whtch give a true and fair vmv of the state of affairs of the Charrty and of the incoming resowces and application of resources of the Charity for that year. In proparfThJ thesg financial stalem¢nts. the Trustges are rgquired to.. - seloct suilable accounting policies and then apply th8m ConsistenY' - obseNe the methods and principles in the ChitIeS SORP: - make judgements and estimate5 that are reasonable and prudentr. - stste whether applicable 8ccounllng standards have been lollowed, subkcl to any matertal departures dls¢losgd and explained in the financial ststements,. and - prepare the financial slalements on tho golkvj con¢8m basis unless It Is Inappropriate to prosume th8t Ihe charity 11 continue in operaOn. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuiacy al any time the finanaal sItion of the Charity and enable them lo ensure that ihe financial statements comply 1h the Charlties Act 2011, the Charty {Accounts and Reports) Regulations 2008 8rn1 the provisions of trusl deed. They are also responsible for safeguarding th8 assets of the Charity and hen for laking reasonable slep$ for the preventK)n and delecuon of fraud and other Irregulariles.
THE KING EDWARD VI COLLEGE. STOURBRIDGE CHARrrY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY Opinion We have audMe(I thg financial ststements of The Kir#J Edward Vl College. Slourbrldge Charity Ithe 'Charfty'} for thè yoor ended 31 August 2025 which comprise the statement of finan81 adlvilies, the balance sheal and the r1$ to th8 financial sts18ments. including a summary of significant accounling policies. The fin8ncial roportiro framèwork that has been applled Sn their preparallon is applkable law and UnStsd Kingdom Accounting Standards. including Finan(xal Reporting Standard 102 The Finandal Rgpothng Standard applicable in the UK and Republlc of Ireland (United Kingdom G&neraJlyA¢cepted Accounling Practic•). In our opinion, the finan¢i81 statements: give a true and fair vlew of Ihe state of the charity's affairs as al 31 August 2025 arKI of Its Incoming resources and applicallon of r8swrcAs. for Ihe year Ih8n ended,. have ba8n rKopgrly prepared in aCrdanCe with United Kingdom Generally Actopted Accounting Practice: and have been prepared in acc(Kdance with the Charittes Act 2011. Bas1$ fgr oplnlon We CnduCted our audit in accordance wtth Inlemalional Stsndards on Auditing IUKI {ISAs {UK}l and applicable lew. Our responsibilttses under those standards are further described in th8 Audtiorfs responwbilifies for the audit ol the financial slalements $edion of our pOrt. We are independenl of the Chority in accordance with the ethical requirements that are relevant lo our audit of the financial 8tstements in the UK, including the FRC'S Ethlcal StBndard, and we have fulfilled our other elhical responsibilities in accordanco with these requirements. We believe thot the audit evidence we have obtained is sufficient ond appropriate to provide a basis for our opinM)n. Concluslons r•latlng to going ¢onum In auditing the financial slatements. we have concluded that the trustees. use of the going ccKem b8318 of accounllng in Ihe preparation of the finanrAal statements 1$ apwbpriale. Based on Ihe work we have performed. we have not identified any material uncertainties relaling lo events or condillons that. individu811y or Co1CtIve1y, may cast signlficant doubl on the Charity's ability to continue as a golng concom for a poriod of at least tsvelve months from when thg financial statements are aLthorised for Issue. Our resFon$ibilthes and the responsibilltlès af the Twstees w5th rèspect to going concorn 8ribed in tho relevant sections of thls report. other Infomiatlon The other Infomiatlon comprises the Infomiallon Induded in the annual report othor than the financial statements and our aud5torfs report thereon. Th8 Trustees aro responsible for the other infomiatlon contained within the annual report. Our Dpinlon on the finanal ststem8nls does not COV8r the other inform8tlon and we do not express any fonn of assurance condusion Ihgreon. Our respon51billty Is lo the other informatlon and. doing so, cnnsider whether the other information is materially irmnsislenl wlh the financial statem8nls or our knowledge obiained in the COUFye of the audlt. or otherwL%e appears to be matèrially rnisslated. If we identify such malerral inujnsislencies or apparent material misslalements, we are required to delerniine whether this gives rise lo a material misslalemenl n the financial statements Ihemselv8s. 11. based on the work we have ptrrfom8d. we conclude that Ihgfy is material misslalomenl of this otsr infomiation. we are required to report that fact. We hav8 nothlng lo report in thk8 rg9ard. Mattèrs on vthlch we •r• T•quired lo report by •xceptlon We have nothing lo report in respect of the follovlng matters in rèlalSon to which the Charities (Accounts and Reportsl Regulations 2008 requires us lo rert to you if. in our opinion: the information given in the finawal stalements is inconslstenl in any material respect wrfh the tru$t¢e$' report- or sufficient a¢counting rèccds have not been kept,. or the financial stslements ar8 not in agreement with the accounllng records; or we have not recelved all the infom)allon and gxplanations we requir& for our audit.
THE KING EDWARD VI COLLEGE. STOURBRIDGE CHARITY INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARrrY Rg$pon$lbllltl•s of TfUSt••s explained more fulty in the s&ement of tees. rBsp)nsknilitie5. the Twstees arg resF0n5iQ for the preparation of the financial stalemerrts and for being satisfied that they give a two and fair view. and for such Intemal control as the Trnstees delemilne Is necessary lo enable the preparation of finantial stslements Ihat arè free from material mis3lat6ment. wheth6r duè to fraud or èrror. In preparing the finan¢Sal ststemenls. th8 Trustèes are responsible for assessing Charity's ability to continue as a gclng concam, dlsdosln9, as applioble, mattèrs related to 90ing con¢em an¢J using the going concom basis of accounting unless the Tnte85 8ilhtir inlond to coa$0 opprallon8, or have no roallstlc attomatlve but to do so. Audltof8 r•sponslbllltl•8 for th• audlt of th• flnanclal gl•twn•nt$ We have been appointsd as audllor under 145 of the Chartti88 Act 2011 8rHI rert In accordance wllh the Act and rel8vant regUlaonS mado or havlng effect thereunder. Cr obleclivos are to obtsin reason8bl8 assumn¢o al)out whoth6r the financial staleThnts a$ a whole are fret from malerfal mlsslat&ment. whethor due to fraud or error, and to 15suts an audil0rf3 report that include3 our oplnlon. Reasonable agsuran¢e18 a hlgh 16vel of assurance but Is not a guardntee that an audit conducted In ac(#)rdan¢ wlth ISAS IUKI wlll always dotect a mal&rfal mlsststemenl when it exists. Mi55tatements can arise from fwaud oi error and ar8 IxJnsidèr8d material rf, indNidually or in the aggregate, tt)ey coul(J reasonably be expected to influen( the economic decisions of users taken on the basis of these fin8nci81 stamnts. The extent to whlch our PrlureS are capable of dotedlng Srrwjularittes, indudlng fraud, is detsiled bolow. Extent lo whkh the audlt Was ¢OMld•red capable ot d•toetkng Irrngularltlv, Indudlng fraud Wg identifd and assessed tho risks of material misslalement of the financial statements. in respect of irregularities wheth8r dug to fraud or grror, or non compliance wilh laws and regulaliL)ns and then designed and prfonned audit proc&dures responsive lo those risks, Including 0tAainW audit evidence that is suff19n1 and approprlate to provide a basis for our opinion. In Ident119 and aSseSr¥a dsks of materlal mlsstatement In respect of Irregularfties. Includlng fraud and non- compli8nce with laws and regulations, our prcwjures induded the following.. We obtalned an understanding of the legal and regulatory frameWOS that are applrcabk to the Charity by di$ssIOn and enquiry with the Tnjslees and the Clerk 8nd our general knowledge arKI experien of the Charity. W• frKu$•d on sp8ufic laws and regulatnS which wo considered may havo a dired malerral affect on th8 finanaal statements or the ¢peryatnS of the clxnpany. includng Ihe Charities Act 2011. dal8 protection. employmen( and health arKI safety lègislalion; We assessed the extent of compliance with the laws and regulolDn$ idonlffied through mak¥ig enquiries, rewewng COFrespondence wlth relevant regulat. Audlt rosponse to rfsks Idgntlfied We assessed the susceptibility of the ChariWs fMarial ststements lo m91erial misst8tement. IrKILKlkng how fraud might occur. Audit procedures perf(led induded but were Tr)i limited to.. Discussions wilh trustees as to where IW nSIdered there was SusCepbI1lty lo fraud. Ihelr knledge of actual. suspected and alleggd fraud" Perfomilng an81Cl proeedLtres to identify any unusual or unoxF*dod r&latlon$hlp$; Challenging assumplons and judgements made by the Trusteès in ac£ountirvJ for investment Ffoperty: Rtiviewing unusual or unèxpectèd transactions,. and AgreeirY the financial statement disclosures to underlyiro supportw d(lments110n.
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARrrY Owing lo the inherent limitations of an audiL there is an unavoidable risk that we may not hove detected some materlal mlsslatemenls in the financial statements. even though we have propetly planned And pèrfomied our oudit in accordance with auditing standards. The more removed that laws and regulations are from financial transactions. the less likely il is Ihat we would become aware of non-compliartce. Auditing standards olso Imlt the audil pr0edu$ requir to identrfy non-compliance with laws and fegulations lo enquiry of the Iru$lees and other management and Ihe inspedon of regulatory ond legal corrospondgnce. if any. Material misstatements Ih8t aris8 du& to fraud can be hard8T lo dotect than those that arise from error a$ they may Involvfr do1)er8 con(alment or collus10n. A furlhèr descrlption of our respon51blllll8s 1$ available on the FMn¢10l Reportlng Councll's websll8 at. https'.11 www.frc.org.ukJauditoTsresponsibilities. Thls description fornis part of our audmorfs report. U¥• of our rewt This report 1$ mode solely to the charty's tru$tees. as a body, In accordanee wlth part 4 of Ihg Charilles (Accounts and Repts) Regulations 2008. Our audll work has been undertaken so that we mlghl state lo Iha ch$ trustees those mattefs we a required lo slate to them In an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charlty the chadtys trustees as a body, for our audit work, for this report, or for the oplntons we have fcKmod. CLI Pdd/rf CK Audil {Senior Statutory Auditor) For and on behalf of CK AudiL Stslulory Auditor Chartered Accountsnts No 4 Castle Court 2 Castlogate Way Dudley West Midlands DY1 4RH 11 February 2026 CKAudit is ellgible lor appolnlment as auditor of the Charity by virtu8 of its tligibilmy for appointment as auditor of company under s8ction 1212 of the Companies Act 2006.
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 UnmlJlcl•d R•strtctsd Endowmont nds nds 2025 2025 Total Totsl 2025 2025 2024 Incom• frorr Donations 8nd lego¢ies Incornè from tharitstle #ctiwties Investments 170 205.956 51,775 170 205.956 67,107 161.922 66,0 15,332 Totsl In¢om¢ 257.901 15,332 273.233 227.922 Ex dlture on: Raising fvnds 4.442 4.442 4.421 Charltable aclivities 115.866 115.866 139.921 Total r•$ourc•s •wnd•d 115.866 4A42 120,308 144,342 Net gainslUosse$l on in$ents 13 1976) 18,354 17,378 121,104 N•t mov•m•nt In funds 141,059 15,332 13,912 170,303 204,684 Fund balan al 1 September 2024 901,099 105,706 3.652,975 4,659,780 4,455.096 Fund balanc•s at 31 August 2025 1,042,158 121.038 3.666,887 4.830,083 4.659,780 The statsment of finon¢io1 actiwties indudes all gains arKI losses Tecognised in the year. The statement of finandal aCtitieS indudes all gains 8nd losses recognised in Ihe yeot. AJI incotr* and expeThJiture dellvg from Continuing adivili8s.
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Not08 Flx•d ass•ts Tangible a$$gts Investment propety Investments 15 16 17 140,000 2.310,001 1,222.248 140.0(X) 2,280.001 1,241.163 3.672,249 3.661,164 Currnnt ass•ts Debtors Cash al bank and in ha1 19 33,787 1.160.727 15,397 1.077.951 1,194,514 1,093,348 Credltors: amounts falllng due wlthln one y•ar 20 {36.680} (94,7321 Net current assets 1.157,834 998.616 Total assots less cuThent IlabNItI 4,830,083 4,659.780 Th• funds of the Charlty Endowment funds Rèstricted income funds Unrestrictsd fvnd$ 21 22 23 3.666.887 121,038 1.042,158 3.652.975 105.706 901,099 4,830.083 4.659.780 The finanrAal slatem8nls were approved by th9 Tmstees on 11 February 026 Mr D J Burr¢)WS Chalr of Tru$t•es Mr R Colligan VICL LrtAI
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ountlng pollcles Charity informatlon The Charity called King Eard the Sixth Grammar School, Stouthidge regulated by a Scheme made by the Board of Educalon on 16 November 19 (as affected by ArtScles of Government mode by Ihe Minister of Education on 26 Octobor 1950) was supersgded by a new Scheme of 21 Juty 1989. Consequentty the Charity which had previousty beon roprgsgntgd by the Govemors, Accounts is now kn¢)wn as The King Edward Vl College, Stourbridge. Charity bein9 administered by Tru$tee$ of that Charity. No attempt was made to sgparate the funds at 21 July 1989. These accounts also indude the Prize and Scholarship accounts. 1.1 AcGountlng Gonv•TrtloD The finar)cial stalernents have been prepared in accordance with the Charli3 govemlng document, th8 Charltles Act 2011. FRS 102 Yhe Financial Reporting Standard appIable in the UK and Republic of Irel8nir rFRS 102.) and the chare$ SORP 'Accountlng and Reportlng by Charftles: Statement of Recommended Practice applicable to charflies preparing thelr accounts In accordance with the Flnanciol Reporting Standa appllcable In the UK and Republ1¢ of Ir&land IFRS 1021.1offeLlI 1 January 2019). Thg Charfty is a Pule Beneffll Entty as defined by FRS 102. The Charfty has taken athiantagg of Ihg provislcTh In SORP for charitses nol to proparg a Statgmgnl of Cash Flows. The financial 8t8t8ments arn prepared in sterflno, whl¢h is ts lunctk)nal CUfr8ncy of the Chfthty. Monetsry amounts In theso financial statements are iounded lo ihe nearest £. Tho fln8ncial ststsments have boen prepared under th$ hlstorlcal cost convgnllon, modified to Indudg Inveslm8nt prop8rties and cataln flnan¢lal Instrumnts at falr value. Tho prSnclpal ac¢ounlirvJ policS adopted e sel t below. 1.2 Golng nCern Al the time of appron9 the finandal statements, the Trustees havo a reasonable expectation Ihol the Charity has adequate resources to ntinUe in operatK)nal 8Xk8lenc8 for the foreseoable future. Thus the Trustees contlnue lo adopt Ihg goiw concom ba$1$ of a¢Untn9 In proparing the financial staloments. 1.3 Charitabl• funds Unrestricted funds are available for use al the disuetion of the Tru8tee5 in furtherance of their chartlablg oblectlves unless the funds have been deslgnated for other purposes. Reslrlcled funds are subject lo specific conditions by donors as to how they may be used. The purposes and uses of the rgslricted fvnds are sel out in thg notes to Ihe financial slatemenls. Endowment bjnds are subied to $peufi¢ condition5 by th)noTS that the ¢aF4tal musl te maintained by the Charty. 1A Income Income Is recognlsed when the Charlly Is legalty enlilbd to 11 after any porformance ¢ondrtions havo been m&t. the amounts can b8 measured raliabty, and il is probable that incom8 will bè r8caived.
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ountlng poll ICoThtlnu•dl 1.5 Expenditure Expenditure is recognised once there Is a logal or con$lrudve obligation to transfer economic bgnefft lo a Ihd party, it is probable Ihal a transfer of economlc bomfits will b• mquir8d in s&ttl•monl, and the amount of the obligation can be measured reliably. Expènditure 18 classlfied by actNIty. The costs of each actlvlty are made up of the total of dlr8Ct costs and shared cosis, including support costs involved in undert8king each activity. Direct costs 8ttribulable lo a singl& activity are allocated directfy lo that activity. Shared costs whl¢h Contribute lo more than on8 actiwty and support Costs which are not attributable to 8 single activity are apportioned bètsveen those activities on a basls con51Stent with the use of resources. Central stsff costs are allocated on the basis of time 8pent, and daprecialion char$ are aHocated on the portion of the 8ssel's use. All expènditure is accounted for on an a¢cfual8 basls and has been classlfied under headings that aggregate all costs rèlated to the category. 1.6 Tangible fixed a$yets Tangible fixed assets are initially measured at (x)st and subsequently measured al cosl or valuation, nel of any IMpaknnI lossès. The land and iwildings comprise Colle premises. The trustees believe them is no longer any value in the Conege buildings and the revaluation reserve has been released in a previou5 year and the balance moved from general end¢)fftnl funds. 1.7 Investment propèity Investment properties are inchjdod in the balarK8 sheel at the Trn8teos' best estlmate of 0ft mafket value having taken profe8sh)nal pAvlce. 1.8 Flx•d ass•t In¥IMnts Flxed asset investments are initially measured 8t trans8dion price exduding transaction costs, ond are subsequently m8asured at falr value al each reportSng éatg. Changes In falr value are reccgnlsed In ng1 1no)mellexpendr@} for Ihe year. TrSaOn costs are expensed as Sncurred. 1.9 Impalrn)ent of flxed a$set• At each reFQrtir4J end dote. tho Charity reviews the carrying amounts of ts tangible assets lo detsrmin¢ whethgr there is any indication that Ihpse assets have. SLthered an impairment loss. If any such indicalH)n exists. the recov&rable amount of the asset is estimated in order to determin& the extent of the impairment loss {if any). 1.10 C•sh and cash equlvalents Cash and cash equivalents Include cash In hand, depostts held at call wllh banks, other short-tom Ilquld Investmonls wth original m8turltles of three months or less, and bank overdrafts. Bank ovordrafts are shown within borrowings in curtenl liabilities. 1.11 Flnanclal Instrumgnts The Charity has elected to apply the Fwvisions of Section 11 'Basic Financial Instruments, and StictK)n 12 'Olher Financial Instruments Issues, of FRS 102 to all of ts financial instruments. Finoncial Inslrum&nts are recognlsed in the Charivs balance sheet when Ihe Charity bee4)mes party to the Itractu8J promsions of the instrument. Financlal assets and liabilities are offsel, with the nel amounts prosented in the financial slatemenls, when there is a legally enforceabl8 right lo set off the reccrfjnised amounts and there Is an inlention to settle on a nel basis or io reallse the asset and settle the liablllty slmultanoously. 10-
THE KING EDWARD VI COLLEGE. STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcl (Contlnu•d) B•sk Iln8n¢lal•M•ts BaC financial assets, which indude dpbtors ar)d cash and bank balances, aro initially measured at transaction pbl¢8 Induding transaclion 1$ and are subsequenly carded al amorlised cost using the offe1Ve interest method usS the arrangement conslitules 8 financing transaction. ere th& transadion IB measured al the present valuo of Ihg future raIpts dlscounled at a markgl Tale ol interest. Financial assgls classlfied as recelvabl• withln ¢m year ar? nol amortisod. Bask Iln•nclalll•bHIUes Basic financial liabilities, inlIj ¢reditoT3 and bank loans are InOIty reLx>gnised al transaciion price unless the arrangement constitutes a financing transaction. %there the debt instrument is measured al the pr&8ent value of the fvture lPt$ di$¢ounted al a market role of inl8re$l. Financial 118bilibes classlfied as payable Ihin one year are not amortised. Trade creditors are obligations to Pay for goods or services that have been acqulrèd In ordinary c18• of operation5 from suppliers. kniounls payable are dassified as current liabilities If paym1 Is due wlihln one year or less. If noL they are presented as nonvcurrenl liabi1S1ies. Trade editOrS are rwnlsed initially at transaction price al $ubsequenUy measured al #Mo8ed cosl ustng the effective interest method. DgrKoqnition of finan¢ial liabilities Finandal liabllilles are derewnised when the Charity's contractU81 obligations expira or are discharged or e4ncelled. Crfllcal accounllng •stlmat•s and judgemwts In the applicalion of the Charity's aountIng policies. the Trustees are requlred to make judgements, estimates and assumptions about the caryin9 amount of assets and liabilitiès th81 are not readily apparent from other sOLceS. The estimates and assodated assumptitins are based on historlcal &xperlene¢ and other fadors Ihat are cons*Jered to be relevant. Actual results may differfrom these estKnales. The e$limates and underfylng assumpllons are revlewed on an ongolng basss. RevSslons to accounting èstimates are recognised in the pe0d In whlch the estlmale is revised where ihe revision affects only that period, or In the perlod of the revlsion and future periods where the revlgion affects bolh QUent and fvlure periods. K•y of estIMlOn uncertalnty Investment property Investmont properties are w1¢1jed in the balance sheet at the TTUSte¢s' best estimate of open market value havlng taken wofessional advice. Profrs$ional valuBtion$ ore canied out at least every five years subject onty lo obtaining advice as to any material movemenls individual ValuatS. In¢om• from donatlons and lega¢le$ Unr•8lrlct•d UnrtrIcI0d funds funds 2025 2024 other 170 11
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from charltsble activities Unrestricted Vnr•strl¢ted fund8 funds 2025 2024 Charltabl• actlvttl•$ Rental incom8 SeNic8 charges 177,092 28.864 161,922 205,956 161,922 Income from Inve*lments Unr•strlct•d R•strlct•d funds funds 2025 2025 Total Unrè8trlct•d Rèstrlctèd funds funds 2024 2024 Totsl 2025 2024 Income from listed invoslments Income from unliste(I Investments Intere81 receivable 18 14,051 14,069 16 13,475 13.491 20,331 31.426 20,331 32.707 20,889 30.353 20.889 31.620 1.281 1.267 51,775 15,332 67,107 51,258 14,742 66,000 Expfrndlturo ralslng lunds Endowm•nt Endowmènt fvnds 2025 2024 Investment manag8m8nt 4.442 4,421 12-
THE KING EDWARD VI COLLEGE. STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ExpendliuTr on charllable actlvhles Property Prlzo Fund R•nlal Activiti8s 2025 2025 Totol PfOP•rty Priz• Fund R•ntal Actlvlth¥ 2024 2024 Totsl 2025 2024 Dlr•ct ¢0gts InSLFfdnce 19.583 19,583 19,567 {1.7691 5.122 4,174 4,174 48.624 3.Y19 5,011 19,567 48.624 Council tsx Repairs {otherl Surveyor and property consultant fves Rent and lease fees EleLlrirAty and gas Bank tharges Letting agont fees Other charitable expenditure 11.769) 5.122 3.919 5,011 2,160 7.662 19,216 447 5.217 2.160 7.662 19,216 447 5.217 12,105 9.578 516 6,219 12.105 9,578 516 6.219 1,885 1.885 51,354 19,567 70,921 49,691 48.624 98.315 Grant fvndlng of activib'e8 (see rth 8) 20, 20.000 20.940 20,940 Share of support and governance costs (see note 91 Gov8manc8 24,945 24,945 20,666 20,666 96,299 19.567 11S,866 91.297 48,624 139,921 Anatysls by fund Unrestricted funds 96,299 19,567 115,866 91297 48,624 139,921 Grants payab During the year a grant$ of £20,000 (2024 - £20,0001 wert paid to Heart of M•r¢18 Multl Academy Twst. Support ¢o¥t8 allocatsd lo a¢tlviti•8 2025 2024 Govemance cts 24,945 20,666 Analysed b•t*•en: Propoty Rontal 24,945 20,666 13-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support Costs allocated to actmtles Icontlnuedl 2025 2024 Governanc• Costs Compriw: Audlt fees Accountancy Legal and professional 4.975 3,965 11,726 4,455 14,901 24.945 10 Not mov•m•nt In funds 2025 2024 The nel moverronl In funds Is ststed aftet chargIn{cred1ng). Fees payable for the *udit of th8 charitys fjnanclal sL3t•mgnts 5,589 4.975 11 Twsts•s None of the Truslee$ lor any persons connected with them) re1v8d any remunerallon. 12 Employ$ There were m employ88s duriw the year. 13 Galn$ and losses on Investments Unr•stricted Endowmont nds fund$ 2025 2025 Total Unrostrfcted Endowmwrt funds funds 2024 2024 Totsl 2025 2024 Gainslllossesl arising on: Revaluadon of knveslments Revaluat4on of investment rwperti¥s 9761 111.6461 {12,622) 2,072 101,104 30,000 30.000 20,OLK) 20,LKIO {976) 18,354 17.378 2.072 119,032 121.104 14 Taxatlon The charity is exempl from tsxalb)n on its activities because all ils income is applled lof charilable purposes. 14-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 15 T•nglbl• Ilx•d •ss•ts Land and Oil Palntlnll bulldlny• T)tsl Cost At 1 SgPtgrrt)gr 2024 21.209,059 140.000 21.349,059 At 31 August 2025 21,209,059 140,000 21,349,059 Dopreclatlon and Impalrm•nl At 1 September 2024 21.209,059 21209.059 Al 31 August 2025 21,209.059 21209.059 Carrylng amount Al 31 August 2025 140.000 140.000 At 31 August 2024 140.000 140,000 King Edward Vl ryl on wc)d painting. orca 1547 attributed to William Scrots Irevalued in June 2022 by FidingS Auction8ers Ltdl The trustees are of the opinion that Ihère Its material change In th8 net book value al yeai end. 16 Inv•stm•nt propo 2025 Falr valu• Al 1 Sgptombgr 2024 Net gains or1035es through fair value adju31rnents 2.280.001 30,000 At 31 August 2025 2.310,001 The investment propeTty was last profe55iDnalty valued in the year erKled 31 August 2023. For the year ended 31 Athausl 2025, the Vae$ have been reviewed by Andrew T8plin and Lee Sh8w Prop8rli&s and 8ubsequentty UkN*ted to reflecl current market condNion8. DurlTr3 tho year ended 31st Augusl 2021 th• trustees were given p•m)issi¢)n from the Charity Commission to grant 8 125 year leas8 a peppero)m rent lo the Heart of Merc18 MAT. The value of the College buildin was therefore impalred to £1 and transferred lo Investment propety. The tfusteos believe there 1$ no longer any value In the Collogfj buil(Jings aTrJ the revalualion reserve cwled in 2018 released. wSth the balanc• b8ing removed from ggneral gndowmenl funds. 15-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 17 Flxed as¥et Investments Exp8rbdable P•m)an•nt Endowment Endowment G•n•ral Ll¥t•d C•sh and Funds Invoslmenls Savlng$ Bank Totsl Cost or valu•tlon Al 1 September 2024 Addlb'ons Valuation changes Charg&8 and Int8rost Mov9ment In cash balances Disposals 544,096 200.495 27,422 466,510 125,563 2.640 1241.163 125.563 119,356) (7,133} {9751 13,947 {13,517) {4,442) 14,442} 4,014 4.014 {130.5331 {130,533} At 31 Augusl 2025 524,740 193.362 26,447 475,487 2,212 1.222.248 Carylng amount Al 31 August 2025 524.740 193.362 26.447 475,487 2.212 1,222,248 Al 31 August 2024 544,096 200,495 27.422 466.510 2.640 1,241.163 18 Flnan¢ial Instrnments 2025 2024 Carrylng amount of flnanclal as$•ts Instrum8nts measured al faSr value through profil or loss 1,222,248 1,241,163 19 D•btors 2025 2024 Amounts fallirw du• wrthin on8 y•ar.' Rent & in$urance recharges Other debtors 23.787 10,000 2.397 13,000 33.787 15.397 20 CTedltors: amounts falllng dug wllhln ono y•ar 2025 2024 other credilors 36,680 94,732 16-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 21 Endowm•nt fund• EThYowment funds represent assets whlch must be hehy pemwnently by the Charlty. Income arfslng on the endowment funds can be used in accordanc6 wlth the obAe¢ts of th6 Charity and is induded as unrestricted Income. Any capltsl gains or losses arislng on th8 assets fom part of the fund. ResouTC•S expended Gains and At 31 August ISe$ 2026 September 2024 P•rn)aMnt endowmonts Land and buihlings Invoslmen15 Dewsil acccount Scott EdUtional Found•th?n Dr Roy Bequest Inveslmenl propety 140.000 154,491 12,468 54.178 467,741 2,280,001 140,CKKS 149,409 12,468 52.525 477,744 2,310,CV)1 15,082) {1.653) 14,445 14.442> Exp•nd•bl• •ndowm•nts Inveslmgnts (19.356) 524.740 3,652,975 14,4421 18,354 3,666,887 Pr•vlous y••r: AI 1 R0yre•l S•ptsmber •xp•nd•d 2023 Galns and At 31 August 2024 Pgrnbanont fjndonts Land arKI buildings Inveslments Doposlt acccount stt Educatlon81 Foundation Dr Roy Bequest Irweslmgnt proporty 140.000 142,767 12.468 50,667 429,492 2.260.001 140,000 154,491 12.468 54,178 467,741 2.280.001 11,724 3.511 42,670 20.000 4.4211 Exndabl& ondowm•nts InveslThnts 2.969 41.127 3,538,364 {4,421} 119,032 3,652,975 17-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 R•8trlct•d lund$ The income funds of Ihe CharSty Include reslricled funds ¢ompri$ing thè foll¢)wing unexpended balancos of donations and grants held on trust for specffi¢ purposes: Incomlng At 31 August r••our¢•8 2025 Soplemb•r 2024 Platt Library Fund Scott Educational Foundation Dr Roy 956 10,831 93,919 956 12,112 107,970 1,281 14,051 105,706 15,332 121,038 Prgvlous y•ar. At1 Incomlnq At 31 August S•ptember r•50ur 2024 2023 Platt Library Fund Scott Ecational Foundation Dr Roy 16 1.251 13,47S 956 10,831 93.919 9,580 80.444 90,964 14,742 105,706 Unrestricted The unreslri¢t6d fvnd5 of lh6 charfly Mmwise the unexpended balances cl donatlons and grants whlch are not subJ8ct lo specC conditions by donors and grantor5 as to how they may ba usad. These include designatad funds vthich havo baon set asid8 out of unr8stri¢t8d funds by lh8 Iru$lo9$ sr)eofic purposes. At1 SW•mber 2024 Incomlng Re8our¢•s resour8 oxpendèd Gains and At 31 August 2025 General funds 1,099 257.901 (115,8661 19761 1,042.158 Provious year: Intoming Resources resources expended Gains and At 31 August loss 2024 September 2023 General funds 825,768 213,180 {139,9211 2.072 901.099 18-
THE KING EDWARD VI COLLEGE, STOURBRIDGE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 24 Analy81¥ ol net ass•ts b•twe•n funds Unr•strlct•d R•StrIct Endowmenl funds lund8 funds 2025 2025 2025 Totsl 2025 At 31 August 2025: Tangible assets Investhwnt prop9$ Investments Currènt assetsllllablllles) 140.000 2,310.001 1.196.696 20.190 140,000 2,310,001 1.222,248 1,157,834 25,552 1.016,606 121.038 1.042,158 121.038 3.666.887 4.830,083 Unr•strict•d funds 2024 Restrictod End•)vmi•nt funds fund$ 2024 2024 Total 2024 At 31 August 20X. TgIble assets Invoslment proparties Invgstrnents Current aSseisl{IlatileSI 140.000 2,280,001 1,212,784 20.190 140,000 2,280,001 1.241,163 998,616 27,423 873,676 104.750 901,099 105,706 3,652.975 4.659,780 25 Flnanclal commltm•ntsJ guarantoos and contlng•nt Ilabllltl A grant of £221,657 was made ty Football Foundation to th8 Govemors of tho College in 2014 towards th? ¢osls of a new stM)rts pavilion on land owned by the Charity at The Green Fiek15. Oldswlnford, Stourtmdge. The granl was made subjoct to condlti¢)ns binding on both the Govemors and the Trusts88. During tho perk)d of 21 years from the 3rd Octob9r 2014 any breach of the grant conditions could trigger the ropayment of the grant. Related party tran8actl¢)n• There were rto disclosabl8 related paity transadions durlng tho year (2024 - nong} olhor than th$ grant to tho Heart of Mercia MAT for £20,(1. 19-