REGISTERED CHARITY NUMBER: 527837
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
The Dixie Educational Foundation
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
The Dixie Educational Foundation
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Dixie Educational Foundation
Report of the Trustees for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
527837
Principal address
Cool Hill Farm Sibson Road Sheepy Parva Atherstone Warwickshire CV9 3RE
Trustees
B Sutton Mrs C Dixie Mrs J Glennon Mrs M Brooke M Cook M Cartwright K Morrell B Crook Mrs M Nelson M Reed Mrs G Tallis Mrs J Mackey
Independent Examiner
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
Approved by order of the board of trustees on 19 May 2025 and signed on its behalf by:
M Reed - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Dixie Educational Foundation
Independent examiner's report to the trustees of The Dixie Educational Foundation
I report to the charity trustees on my examination of the accounts of The Dixie Educational Foundation (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Preston FCCA
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
19 May 2025
Page 2
The Dixie Educational Foundation
Statement of Financial Activities for the Year Ended 31 March 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Grants Other Total NET INCOME Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.25 Unrestricted fund £ 1 200,626 200,627 9,391 73,405 8,725 91,521 109,106 1,357,932 1,467,038 2,138,579 3,605,617 |
31.3.24 Total funds £ - |
|---|---|---|
| 141,801 | ||
| 141,801 | ||
| 1,376 | ||
| 105,986 | ||
| 4,885 | ||
| 112,247 | ||
| 29,554 1,380,653 1,410,207 |
||
| 728,372 | ||
| 2,138,579 |
The notes form part of these financial statements
Page 3
The Dixie Educational Foundation
Balance Sheet 31 March 2025
| Notes FIXED ASSETS Tangible assets 6 Investments Investments 7 Social investments 8 CURRENT ASSETS Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
31.3.25 Unrestricted fund £ 1,325,000 2,021,971 20,000 3,366,971 238,646 238,646 3,605,617 3,605,617 3,605,617 3,605,617 |
31.3.24 Total funds £ 87,685 1,901,354 20,000 |
|---|---|---|
| 2,009,039 | ||
| 129,540 129,540 2,138,579 |
||
| 2,138,579 | ||
| 2,138,579 2,138,579 |
The financial statements were approved by the Board of Trustees and authorised for issue on 19 May 2025 and were signed on its behalf by:
M Reed - Trustee
The notes form part of these financial statements
Page 4
The Dixie Educational Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 5
continued...
The Dixie Educational Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. INVESTMENT INCOME
| Rents received Deposit account interest Dividends received |
31.3.25 £ 142,207 747 57,672 200,626 |
31.3.24 |
|---|---|---|
| £ | ||
| 84,596 | ||
| 664 56,541 |
||
| 141,801 |
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Property repairs | 8,224 | 262 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 141,801 |
| EXPENDITURE ON | |
| Raising funds | 1,376 |
| Charitable activities | |
| Grants | 105,986 |
| Other | 4,885 |
| Total | 112,247 |
| NET INCOME | 29,554 |
| Other recognised gains/(losses) | |
| Gains on revaluation of fixed assets | 1,380,653 |
| Net movement in funds | 1,410,207 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 728,372 |
Page 6
continued...
The Dixie Educational Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|---|---|
| TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS COST OR VALUATION At 1 April 2024 Revaluations At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Cost or valuation at 31 March 2025 is represented by: Valuation in 2025 Cost |
Unrestricted fund £ 2,138,579 Freehold property £ 87,685 1,237,315 1,325,000 1,325,000 |
| 87,685 | |
| Freehold property £ 1,237,315 87,685 1,325,000 |
Previously the Bank Building was shown at cost value, following the revaluation all School buildings have been included.
7. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 April 2024 Revaluations At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Listed investments £ 1,901,354 120,617 2,021,971 2,021,971 |
|---|---|
| 1,901,354 |
continued...
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The Dixie Educational Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
7. FIXED ASSET INVESTMENTS - continued
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
| Valuation in 2024 Valuation in 2025 Cost |
Listed investments £ 1,380,653 120,617 520,701 2,021,971 |
|---|---|
8. SOCIAL INVESTMENTS
| MARKET VALUE At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Other investments £ 20,000 20,000 |
|---|---|
| 20,000 |
Cost or valuation at 31 March 2025 is represented by:
| Cost MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
At 1.4.24 £ 2,138,579 2,138,579 |
Net movement in funds £ 1,467,038 1,467,038 |
Other investments £ 20,000 At 31.3.25 £ 3,605,617 3,605,617 |
|---|---|---|---|
9. MOVEMENT IN FUNDS
continued...
Page 8
The Dixie Educational Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 200,627 200,627 |
Resources expended £ (91,521) (91,521) |
Gains and losses £ 1,357,932 1,357,932 |
Movement in funds £ 1,467,038 1,467,038 |
|---|---|---|---|---|
Comparatives for movement in funds
| Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 728,372 1,410,207 TOTAL FUNDS 728,372 1,410,207 Comparative net movement in funds, included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General fund 141,801 (112,247) 1,380,653 TOTAL FUNDS 141,801 (112,247) 1,380,653 A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 728,372 2,877,245 TOTAL FUNDS 728,372 2,877,245 |
At 31.3.24 £ 2,138,579 2,138,579 Movement in funds £ 1,410,207 1,410,207 At 31.3.25 £ 3,605,617 3,605,617 |
|---|---|
continued...
Page 9
The Dixie Educational Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 342,428 342,428 |
Resources expended £ (203,768) (203,768) |
Gains and losses £ 2,738,585 2,738,585 |
Movement in funds £ 2,877,245 2,877,245 |
|---|---|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 10
The Dixie Educational Foundation
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| 31.3.25 | 31.3.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | - |
| Investment income | ||
| Rents received | 142,207 | 84,596 |
| Deposit account interest | 747 | 664 |
| Dividends received | 57,672 | 56,541 |
| 200,626 | 141,801 | |
| Total incoming resources | 200,627 | 141,801 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Insurance | 1,167 | 1,114 |
| Investment management costs | ||
| Property repairs | 8,224 | 262 |
| Charitable activities | ||
| Grants to institutions | 61,345 | 83,485 |
| Grants to individuals | 12,060 | 10,180 |
| 73,405 | 93,665 | |
| Other | ||
| Wages | 4,060 | 4,885 |
| Support costs | ||
| Management | ||
| Room Hire | 65 | 25 |
| Finance | ||
| Bank charges | 84 | 81 |
| Governance costs | ||
| Professional Fees | 3,916 | 11,615 |
| Accountancy and legal fees | 600 | 600 |
| 4,516 | 12,215 | |
| Total resources expended | 91,521 | 112,247 |
| Net income | 109,106 | 29,554 |
This page does not form part of the statutory financial statements
Page 11