REGISTERED CHARITY NUMBER: 528161
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
CARTERS EDUCATIONAL FOUNDATION
Lemans
Statutory Auditor
29 Arboretum Street
Nottingham
Nottinghamshtre
NGI 4JA

CARTERS EDUCATIONAL FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Report of th¢ Trustees
Report of the Independent Auditors
Statement of Flnan¢lal A¢tlvltles
12
BalAnee Sheet
13 10 14
Notes to the F5naneial Slatements
15 ID 26

CARTERS EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 21123
The trustees present their report with the f￿anCIal statements of the charity for lh¢ year cndcd 31 December 2023. The
Iru5t¢¢5 hav¢ adoptEd the provisions of Accounting and Reporting by Clwities.. Statement of Recommcnd¢d PratEi¢e
appli¢able to chartties preparing their accounts in ac¢ordat2te with the Financial Reporting Standard applicable in th¢ UK
and Republic of Ireland (FRS 102) (effective l January 2019).
The financial statements have been prepared in accordan¢e with the accounting poli¢i¢$ Set out in notes to the accounts aTJd
comply with the chariry's governing document, the Charities Act 2011 and A¢counting and Reporting by Charities..
St&tem¢Dt of Recommended Practice applicable to ¢lMrities preparing their accounts in accordance with the Finan¢ial
Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
OBJECTIVES AND ACTIVITIES
Objeets
The Scheme of the Foundation requires th¢ Truste¢s, having first discharged their obligations with regard to the upkeep and
conservation of its properry and any expenses of the adrnini5tration of the Foundation, to support and assist the S¢hool
Governors lo meet iheir obligations Linder tbe Education Acts and to provide. a5 the Trustees see fiL any extr&s not provided
by the Lo¢al Education Authority
The Trustees may also award ￿ants to beneficiaries who live within the Ancient Parish of Wilford and are under the age of
25. These Grdn¢s ore of ttvo types..
l. Individual Educational Grdnts awarded once a year, in July, for th¢ ¢n5uing academic year.
Opportunity Grants to enable others to take advantage of particulor development or trdining opEN)rtunities thToughoul the
year.
The Trustees may also award grants to voluntary groups which ￿tel within the Ancient Parish and provide oppominitTes for
education, recreation and developlnent for young people.
Volunteers
All ofthe trustees provide their time and expertise unremunerated, without which the Charity would not be able to function.
There are no oth¢T volunte¢r5.
Page I

CARTERS EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIF.VEMENT AND PERFORMANCE
CharitAbl¢ activities
South WiWord School Grant
£65k w&8 awarded io South Wilford School as an Annual Grant thi5 year. This has bccn made-up of five role requests
including provision for SEN children and those most Yujnerable. detailed itL the breakdown below..
£19k TA .' I.'I child- to be in the same classroom
£13k Sports and Wellbeing- 3 days a week
£18k Coun5elling service- bought in
£5k High Level SEN- TA
£IOk Music Enrichment
Grants
The subcommittee met during the year and Annual Educational Grants toralling £21,975 were awarded to 33 young people
and l Group. 14 of the Applicants were over 18 years old, and 19 of the Applicants were under 18 years old.
'Cour2geou5 Advocacy Award, of £100 was also granted again thi5 year lo be award¢d to a pupil at South Wilford School.
The Charity supported the following group..
- Th¢ Hoods Basketball Club- £1,000 was granted to purchas¢ new basketballs and towards Staff training.
WYCS was awarded £1 5,000 towards supporting their work with young children, to be paid in quarterly instalments of
£3,750. And & fvrther 2 Opporft]nity Grnnts were also awarded in March and April, totallillg £950, iowards a gradU￿10n and
a Brownie Pack trip.
Page 2

CARTERS EDUCATIONAL FOUNDA TION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 21123
ACIIIEVEMENT AND PERFORMANCE
Investment perforrnanee
London Properties
The London propErties are diTrided into otTice spaces and are let to a variety of tenants. Savoy Stewart deal with day-to-day
atter5 Gonc¢rning the properties, giving their prof¢ssional advi¢¢ to th¢ Trust¢¢s when n¢o¢ssary. They deal with insurance
on the buildings, which is paid by the Foundation to ensure proper cover and is then recouped from the tenant5.
My Beautiful City have signed a Full Repairing and InsuTing Lease, depicting My Beautiful City UTJdertaking the roof repair,
to the cost of circa £400k. MBC will now start their major works in March 2024 providing that St. Gile5 Church rele&%es the
r¢quired lieense.
Three units in No 6 have remained void since the pandemic, leaving Gulbenkian and DCL as the only remaining paying
tenanrs. the rn￿et following the pandcmic 15 siill very flat. No 8 has seen receni movement in occupancy but is now fully
tenanted.
Consolidated Developments Ltd are continuing to develop the area close to the properties.
South Wilford School
South Wilford School, is doing well after the recent ofsTED in De¢¢TnbEr 2022, where the School achieved an overall
Good rating with a number of outstanding areas highlighted. The staff &re young and enthusiastic and the School has just
taken on 420 pupils into the September 2023 intake, which is at full capacity. This figure is up from this current year of 370
pupils. The Head Tea¢h¢r, Natalie Aldridge, thanked The Carter's Educational Foundation for the recent Annual Grant it
had given the School, and for the proposed new grant of £65k for th¢ 23124 Achd¢mie Year. She is particularly exciied
about the great relationship with the University for their integrated music learning project. Mrs Aldridge was 21so keen io
welwm¢ any Tru51¢es in to V15lt th¢ Srhool.
Mrs Madeleine Cox has indicated 10 the School that she would like to step doivn from her School Governor role next ￿ar,
with a possible replacement of Neil Johnson.
Natalie Aldridge, Head Teacher sent a survey to parents regarding Before and After School, after a company had
approached ihe School otfering to supply th¢se services. It is unknown how this will impact WYCS, the current provider
who CarteEs support The Old School. There have also been tall(s at School regarding the introthi¢tion of a nursery ai the
school.
The C&rter House
Flat IIOA
Hey Baby's lease ended De¢ember 2), and they have expressed how happy they are and have renewed their lease. A r¢que5t
for 4 parking spaces has been r¢¢eivtd at £400 ea¢h, and Can¢Vs have been able to offer 3 infomially.
Flat IIOB
Tenant, Ellie Marshall. on a £850 a month ¢ontrad has decided not to renew her It￿¢ and has now vacated the properry.,
Rex Gooding are continuing to market the property- The property r¢quire5 a roof iDsp¢ction 2nd possible d£￿p is5ue5 wiihin
thc building #hould bc investigated.
WYCS and The Old School
Mr Lddie Mason Confirmed that although finances were tight, things were ok. The Costs of running WYCS are high and with
16 local people employed. salaries for Staffing ar¢ considerable. Eddie confThed that they had responded to ihe
Consultation Document on 24th Septeinber, regardI￿g South Wilford School looking io embark on introducing a new
nursery along-sid¢ their newly esiablish¢d After School Club. cutTently rur] by an ext¢Tnal provider, Rattle & Roll.
Page 3

CARTERS EDUCA TIONAL FOUNDATIOL¥
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEI¥IBER 2023
ACHIEVEMBNT AND PERFORMANCE
We will eontinue to nLonitor how this affects WYCS and the Playgroup and their use of the Old School.
FINANCIAL REVIEW
Inve5ttNent policy and objectives
The Trustees intend that the real value of their reserves be protected and enhanced by investment in son)¢ or all of suitable
equities, fLxed in¢ome stocks, deposit accournts and r￿ed ternis savings bonds, seeking professional advice as and wh¢n
appropri8*.
Reserves polley
The bu]k of our income comes from rent on the London buildings. When fully let, the buildings yield a gross incorne of some
£330,000. However. any of our tenants can cease to trade or choose not to renew a lease and this can reduce our income by
up to £IOO,000 p.&. Although our income stream often looks secure, It is susceptible io large and unpredictable downward
fluciuations.
Our regular at)nual expenditure falls broadly under the four headings of Management of the Charity {Clcrkin& agents ac
£30,000) 5UPPOrt for the Endowed School, the maiD objerl of th¢ Ch2rity1£76,000) regular grants to individuals and groups
within Wilford1£40,000) and maintenance and improvement5 to the London and Wilford buildings (typ&caIly £200,000).
The school eurrently spends our grant to buy extra Staffing and it is essential ftsr employment security that they know well in
advance the level of suppon which they can expect.
To wntinue ¢0 gen¢rat¢ inwm¢ from oiir buildings, it 15 Tier¢s5ary wh¢n¢v¢r oppgrtunity arise5, to modernise and improve
their ambience, as well as ensuring that they COTnply with ¢urreDt legislation in all asp¢¢t5 Of 5afrty. Such wo]* often hzs to
be done at short notice at the convenience of tenant5 or behveen tenancies.
With the reeeni changes in ihe funding of universiry studenis, it is our hope that we shall be able to give much greater
support to Such students, but in this case we may nced to give a 3 or 4 y¢ar ¢o]nmitment.
Based on the inforniativn abov¢, whi¢h indicaies that we should always be able to guarantee School support at least 2 year in
advan¢¢. be able to initiat¢ SI￿lficant dev¢loptnent work in the London buildings as and wh¢D needed and to continue our
5UPPOrt of indiyiduals and groups within ihe Ancient Parish, we should retain a reserve of £200,0(M).
Our Reserve5 Policy has be¢n updated arcordingly to incorporate a decision to put aside £50,000 a year as a reserve towards
any eventuality wilh the windows and the glass roof of The Pwni Shop. Due to financial pressure arising from the Covid-19
pandemic and frorn the need to repair the Lanterrt roof at No 6 Flitcroft Street the decision mad¢ not to add io reserves
this year.
This policy and th¢ progress towards establishing OUT reserves will be reviewed annualIy.
The total amount of unrestricted funds held at 31 December 2023 15 £289,765, designated funds of £302,496, r¢siricted
fLmds of £2,832,357 and endowment funds of £8.728.716.
Tenants, Deposlts
Separdie bank accounts have been opened tt) ttansfer Tenanis, rental deposits previously held by Nelson5.
Page 4

CARTERS EDUCA TIONAL FOUNDATION
REPORT OF THE TRUSTEES
FOR THF YF.AR V,NDF.D 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Reverend Benjamin Carter, Rector of Wilford, sigrned the original Deed in 1727, setting up a TnJsL whereby a schoolmaster
could be employed to teach boys and gil'ls in Wilford, Nottillgham, to read and writ. His satary 2nd the purchase of books
were to be paid out of in¢ome from pi'opertle5 near Charing Cross Road, London. Also from this income £5 a year was to be
given to (he poor of Wilford and £1 O a year to the Charity Girls SchcKJl in Bloomsbury. London. Rev. Carter died in 1732
leaving the propertie5 to the Charity, together with a 5urn of ￿onEY lo build a SLhoolhou5e and an extra sum to augment the
Charitys income.
In 1909, the three parts of Cartevs Charity were divided into three separate chariiies.'- Cartevs Educational Foundation,
CarteT'S Charity for the Poor of Wilford and Carter's Bloornsbury Edu¢atianal Foundation. Each was given some property
and soroe investment fvnds.
As is shown in the Ac¢ount5, thi5 Foundation owns three London propenies, nvo of whi¢h ar¢ listed Grade Il. Rentals from
these properties Still provide the funds needed to administer the aims of the Foundation.
The Fout)dation also owns the principal object of the Scheme, South Wilford Endowed Church of England Primary School
and the Su￿Ound1￿g ￿oundS. The School no longer uses the Old School House and a Victorian Building. These have been
renamed The Carter House 2nd The Old SthcM)I respectively and both produce a small income for the Trust.
The Foundation is administered by 9 Trustees - 2 Representative Trustees and 7 Ctroptative Trustees. The Representative
Trustees are appointed by Wilford PCC, the Govemors of Nottingham Iligh School and Nottingham City Council (LEA) and
serve for 5 years after which period they may put thems¢lve5 for re•appointm¢nt.
The Co-optative Trustees are appointed by the Representative Trustees and serve for 8 years. At the quarterly Trustee
meetings, the Trnstees agree the strategy of the Foundation. including consideration of ￿ant n)aking. investment, res¢rv¢s
and risk managemcnt poli¢ies. The day to day adminigtration is delegated to the Clerk.
Trustees are inducted and trained in accordance with The'Good Governance Guide,.
On 23rd January 2019 the Trustees resolved unanimou51y to adopt a n¢w Administrative Do¢uEnent, and that the Poundation
is t)ow administered in accordance with the tern)s of the Foundation Deeds as arnend¢d by this Docurnent. The new
Document replaces wording from the 19th Century with wording which is more relevant today. Few substantiv¢ changes are
included, but th¢ new Document increases the pool of Trustees to 4 Representative Trustees and 5 Co-optative Tn￿te¢S plvs
5 local Rectors. The School is llow known as South Wilford Chw¢h of Englond Endowed Primary School.
Risk Management
The trnstees have a duty to ideniify and review the risks to which the charity is exposed and to ensure appropriat¢ ¢ontroLs
are in plac¢ to provide r¢asoJvdble assurance against fraud and ettor.
Having reviewed the situation, the Trustees believe that the major risk which ¢ould face the charity is a lack of rental income
from ihe London properties. In this event. the Trustees. obligations could be met initially by the ￿ndS in the Trusts
Res¢rve$ which hav¢ been ¢al¢ulaied to cover one yeavs expenditure.
REFERENCE AND ADMINISTRA TIVE DETAILS
Regi51ered Ch8rity Dulnber
528161
Prinelpal #ddress
Pennine House
Stanford Street
Nottintsm
Nottinghamshir¢
NGI 7BQ
Page 5

CARTERS EDUCATIONAL FOUNDATION
RLPORT OF THE TRUSTEES
FOR THE YEAR ENDKD 31 DKCEMBER 2023
Trustees
Mr R W Sianley Wilford Parochial Church Council
Mrs M Cox Cothopted
Mr R Baxter (Chair) Co-opted
Mr R St¢cl Coknopted
Mrs E Sporton Co-optEd
Mr5 S Heining Co-opted
Mrs S Read Co-opied
Mr M Dillon Co-opted {appointed 13.12.23)
Mr N Johnson Wilford Parochial Chiii"¢h Council (appoillted 13.12.23}
Clerk to tb¢ Trustees
Mrs J Marshall
Cart¢rfs Edu¢ational Foundation
PenHin¢ House
8 Stanford Street
Nottingham
NGI 7BQ
Audltors
Lemans
Siatutory AuditOT
29 Arboretllm Street
Nottingharn
Nottinghamshire
NGI 4JA
Page 6

CARTERS EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
REFEREI NCE AND ADTrttNtSTRATtVE DETAILS
Solicitor5
Nelsons
Pennirte House
Stanford Street
Nottingha
NOI 7BQ
BaDker5
Lloyds TSB
Old Mark¢1 Squ8re
Nottingham
NGI 6FD
LondoTh Property M8DagetNent
Savoy Stewart
Atlaniic House
351 Oxford Street
London
WIC2JF
Nottingham Property Agent
Rex Gooding
4 Albert Road
West Bridgford
Nottingham
NG2 5GQ
Tenants, Deposits Held with..
Skipton Building Society
Principal Office
The Bailey
Skipton
North Yorkshire
BD23 IDN
Investments wlth:
United TNst Bank
80 Haymarket
IA)ndon
SWIY4TE
Virgin
St J￿neS Street
Nottingham
NGI 6FB
Mansfield Building Society
Regent Street
Mansfield
NG18 ISS
Page 7

chRyE￿ EDUCATIONAL fiOUNDATION
EEPORT OF'fHETRUSTC, CS
.IBER 2023
PUBLTC BCNEnT
Th¢ TniSt￿ liad du¢ r¢￿rd to Ilie suid&iiEe publisliEd by Ilie Charity Cojninission oi) Public bEnefil iyheti révitsivbig
th¢ ¢li*iil5 Thiiiis obj¢aive5. Tlie objecl of Ihe charity detsils of ivlio and Ewiv Ihe cliwily ]￿lPed cath be fouiid
on pa8¢5 1 aiid 2.
$TATFfvTr.￿ OF TRUSTEES, RESPONStBILITtES
The tr1151e¢s gr¢ r¢spoii$ibl¢ for pr¢pJ¥ing the Th51ees' Annlial Rq)ort arnd Ilie ftiijncial sltd¢mfflils w 8ccordArtce ivllli
ftppli¢tibie Iniv8nd Ujiiied Kitwdoin AccouThliiw Staiithids (unit￿ Kiiigdoiii Ge￿￿tty Acr¢pid Ath)Unt￿l8 PrA¢tit¢l.
Tlit IMV fipplicabje ¢0 chatilie% iii & IVa1¢5 requitts Ili¢ In￿(¢¢$ 10 pwpore finThiicial sl&ieiiieiJts for each fi￿anCIN1
yettr ivbich give H liiit alld ftslr vieiv of Ili¢ stale of •fr￿T% of t1￿ chariiy llrjd of Ilie iiicoliiing ¥esoiirces ajid hpplkaikni of
resoiLr¢es of Ilie cjwity forilial periDd. In prepi1rinK Iliese fllilltriciol slileiiieiils.llke Inislees ar¢ reqiurcd to..
scled $iiilabl¢ Aceoiirtting policies rfieti apply Iliein coiisisleiiilyi
- ob5wve Ihc ni¢fvds•nd prh￿lpleS iii the cli￿￿rIticS SORP 2019 IFRS 1021-
1118k¢ jiidg¢rnMls aiid esliniat¢s Ilial ￿re re￿o]Iable and Pmdejitr
51aie iyhdlier ttpplicnbl¢ aceoiiiiiing sthiMla￿S liaye lolloivcd, subi¢cl ID Any m2ieiial depnifiirt% distlosed
Yplomied iii Ilje finallcial st&l¢inwils-
prepare Ilie finan¢lRI st•i¢meiits oil Ih¢ goiiig coThteni basis utde$s il is itiappropriale to presuine tht¢l the cliarity 11411
cot)liiiii¢ I￿ op¢iThlign.
Tr trngiees t(re res￿l)Stb1¢ for kcei)iftE prop¢r ￿￿￿￿ting r¢¢ords Ilial di5¢105¢ iviih ￿￿s￿li￿bIe I￿¢1114¢Y at xiiy till￿ the
rirtiiiidxl posltlojj of tlie ¢lJThrily *iid til￿ble ill￿￿ ￿ e#siire Ih•t Ilie stntellieiils toitjply ii,Iili Ilie Cliarilies Act 21111,
Ie lchariiles (Accoiiiils and Reyoils) Re8ulllli0115 2a08 Riid Ilic p￿visio11$ ofilie thist deed. 7li¢y are Aso rcsp)i)gibl¢ for
5afwiai'din8 111¢ •55¢15 of Ih¢ ¢liirlty and lic￿e for taking r¢*sonable sieps for 112e prevenlion dE*rtion or r￿d Ind
L#IiET brr¢giil•ril¢w.
Approv¢d byoTderofth¢ I￿rd of Iriisltts 16(ktober2014 ￿ld51g11tdOI7 115 behalf by-
Mr R Bo%ler. Trustee
Page 8

REPORT OF THE INDEPLNDENT AUDITORS TO THE TRUSTEES OF
CARTERS EDUCATIONAL FOUNDATION
Opinion
We have audited the fiE￿Icial statements of Carters Educational Foundation (the 'charity') for the year ended
31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and noteg to the financial
statements, including a summary of gignificant accounting policies. The financial reporting framework that has been applied
in their prepardtion is applicable law wid United Kingdom Accounting StaDdards (United Kingdoni Generally Accepted
Accounting Practi¢c).
In our opinion the finan¢ial 5tat¢ments.'
give a trne and fair view of the state of the charity'g affairs L% at 3 1 December 2023 and of ils incoming resources and
application of resources. for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Ac¢ounting Practice,. and
have been prepared in accordance with tbe requiretnents of the Chariti¢s Art 2011.
Basis for opinion
We conducted our audit in accordance with International Standard5 on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standai'ds al'e ￿rther described in the Auditors, responsibilities for the audit of the financial
statetntnts section of our report. We are independenl of ihe charily in accvi'ijance with the ethical requiremenis that are
relevant to our audit of the financial stiteinents th¢ UK including th¢ FRC'S Eihi¢al Standord, and we hav¢ fvlfilled our
other ethical r¢sponsibiliti¢s in ac¢ordan¢¢ wilh these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
ConelusioD5 relating to golng concern
In auditing the f￿anCIal statements, we have cvncluded that the trnsiees, use of the going conc¢m basis of a¢¢ounting in Ihe
preparation ofthe fJnanGial statements is &ppropriat¢.
Bas¢d on the work w¢ have p¢rfonn¢d, we have not identified any material uncert&inties relating to events or conditions ihat,
individually or collectivelyj may cast significant dou￿ on the charity's ability to CQDtinu¢ as a goillg concern for a period of
at least twelve months from when the financi21 statemellts a￿ allthorised for issue.
Our responsibilities and the responsibilities of the tNsl¢es with respecL io going ¢on¢¢rn ar¢ des¢ribed in the relevant
s¢ctions of this report.
Other irtformAtion
The tnrsttes are responsible for the otl)er inforn]ation. The oiher infonnation comprises the inforn)ation illcluded in the
Annual Repon. other than the fu￿nciaL statements and our Report of the Independent Auditors ih¢r¢on.
Our opinion on th¢ financial statements do¢s not ¢ov¢r the other inforniation and, except to the extent otherwise expliciily
stated in our report, we do not express any form of assurance Conclusion thereon.
In connxtion with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing 50,
consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge obtaiDed in
the audit or oth¢rwise appears to be maierially missiated. If w¢ identify such mai¢ri81 inconsisten¢i¢s or apparent matei'ial
misstatements, w¢ are required to det¢rinin¢ wh¢tber this gives rise io a material rnisStatem¢nt in the finan¢ial statements
th¢m5elve5. Jf, based on the work we have performed, we conclude that there is a material misstatement of thi5 Other
inforniation, we are required to report that fact. We have nothing to report in this regard.
Matters on which w¢ are required to report by exc¢ption
We have nothing w report in respect of the following matters in relation to which the Charities (Accounts and Repots)
Regulations 2008 r¢quir¢ us io report ro you 1£ in our opinion..
th¢ inforniation given in the fmancial statements is inconsistent in any material re5pe¢t with th¢ tru$t¢es' report. or
sufficient accounting record5 hav¢ not been kept,. or
the financial staiements are not in agle￿nent with the accounting records; or
we have not received all the information and exp[at￿tIonS we require for our audit.
Page 9

REPORT OF THE INDEPENDENT AL'DITORS TO THE TRUSTEES OF
CARTERS EDUCATIOliAL FOUNDATION
Responsibilitie5 of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustee% are respon%ible for the preparation of the
financial statements which give a truc &nd fair view, and for such internal control 85 the trustees d¢temine is necessary to
¢ttable the preparation of financial statements that are free from material misstatemenL whether due to fraud or error.
In prepartng the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going
concern. disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless
the tn￿let8 either int¢nd to liquidate the charity or to cease operations, or have no realistic altem2tive but to do so,
Our respoMsibilitie5 for the audit of the financial statements
We hav¢ be¢n appointed as audit(Frs Lind¢r Section 144 of the Charities AGt 2011 and rq)ort ID aGrordance with the Act and
r¢levant regulations made or having etyeci thereunder.
Our objeetiV¢5 ar¢ to obtain reasonabl¢ assurance about whether the fEnancial Statements as a whole are free from material
misststemenl. whether due io fraud or ¢rrur. and to issue a Report of the llldep¢ndent Auditvrs thal includes our opinion.
ReasonablE assurance is a high l¢vel of a55ur4nG¢, but TS Dot a guarant¢¢ that audit conduded in accordance with ISAS
(UK) will alivays detect a material misstatement when it exists. Misstaiements can arise from fraud or error and ar¢
onsidered material if, individually or in the aggregate, they could reasonably be expected to influenc¢ the ¢conomi
decisions of users taken on the basis of these financi21 statements.
The exlent to which our procedures are Capable of detecting I￿egUlarltic& including fraud is detailed below..
Irregularllies, in¢luding fraud, are instances of non-¢omplian¢e with laws and regulations. We design pro¢¢dures in line with
our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fr4ud. The
specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud
is detailed below..
- Exercise professional judgment and Inaintain professional scepticism throughout the planning and perfomian¢e of the audit.,
Identify and assess th¢ Tisks of maierial misstatement of the fmancial statements, whether due to fraud or eThor, design and
perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion.
Obtain an und¢rstanding of th¢ internal control relevant to the audit in order to design audit proc¢dures that are appropriate
in the Circumstances. but not for the purpose of expressing an opinion on the effectiveness of the charity's in¢ernal control.
Evaluate the appropriateness of accounting policies us¢d and th¢ reasonableness of a¢counting estimates and related
disclosures mad¢ by matydgement.,
Mok¢ enquiries of management and those charged with governance of any in5tart¢es of non-compliance with Laws and
regulations and of any actual and potential litigation and claims.
Review financial statement disclosures to supporting documentation to assess compliance with applicable laws and
regulations
Because of the inherent limitations of an audiL there is a risk that we not delecl all irregularities, including those leadittg
to a material missratement in the finan¢i81 ststem¢nts or non-¢omplian¢e with regulation. This risk increases the more that
compliance with a law or regulation is I'emoved from the events ond transaction5 r¢fle¢t¢d in ¢h¢ finan¢ial statements. as we
will be less likely to be£ome aware of instances of non-compliance. The risk is also greater regardlng irregularities
occurring dlle to fraud rather than ¢JTor, as frdud involves intentional concealmenL forgery> collusion. omission or
misrepresentation.
A further description of our responsibilities for the audit of the financial stalements is locat¢d on the F￿ancial Reporting
Council's websile at Mvw.fr¢.org.u￿aUditorsreSponSibIj1ties. This description fornis part of our Report of th¢ Independent
Auditors.
Page 10

REPORT OF THE INDEPEINDkNT AUDITORS TO THE TRUSTEES OF
CARTERS EDLCATIONAL FOUNDATION
Use of our report
This report i5 made solety to the charitls trustees. &$ a body. in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been und¢Ttdken so that we might stat¢ to th¢ rhdrily's trustees those matters
we are required to stale to th¢m in an auditors, report and for no other purpose. To the ￿lIest extent permitt¢d by law, we do
not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work,
for ihis report, Dr for the opinions we liave fomied.
Lemans
Sta￿tOry Auditor
29 Arboretum Street
Nottingham
Nottinghamshire
NGI 4JA
Date..
iQ> OcEokJV
Page 11

CARTERS EDUCATIONAL FOUNDATION
STATEMFNT OF FINANCIAL ACTIVITIE
RTHEV
AR ENDED 31 DECEMBER 2023
31.12.23
Total
fvnds
31.12,22
Totsl
Dd5
Unrestricted
fun¢ts
Restricted
funds
Endownent
fund
Nol¢s
INCOME AND
ENDOWIVIErfrs FROM
tnve$tsnent income
371.941
371,941
278,083
EXPENDITURE ON
Raising funds
202,843
202,843
146,232
Charitable activities
Edlleational
Extra stoff costs
Other grants
21.475
76,000
16,552
21.475
76.000
16,552
34,816
74,086
28,117
Other
25,540
25,540
27,526
Totsl
342.410
342,410
310,777
Net gains on investments
954,(H)O
954,000
3,066,000
NET INCOME
29,531
954,000
983,531
3,033,306
RECONCILIATION OF
FUNDS
Total fimds brought forward
562,730
2,832,357
7.774,716
11,169,803
8,136.497
TOTAL FUNDS CARRIED
FORWARD
592.261
2.832,357
8,728,716
12.153,334
11,169,803
Tlie note5 fomi part of these financial statelnents
Page 12

CARTERS EDUCATIONAL FOUNDA TION
BALANCE SHEET
31 DF.CEMBER 2023
31.12.23
Toial
fitnds
31.12.22
Total
funds
Unrestricted
funds
Restricted
£L￿dS
Endowment
Notes
FIXED ASSETS
-1 aDgible assets
Investhients
Invcsthientg
Invc5tsntnt propety
225,000
2,832.357
3,057,357
3,057,357
55,071
55,071
8,720,000
io
8,720,000
7,766,000
280,071
2,832,357
8,720,000
11,832,428
10,823.)57
CURRENT ASSETS
Debtors
Investments
Cash at baDk
70,916
203,389
158.332
70,916
212.105
237.173
113.766
266,Oi2
120,339
12
8.716
78.841
432,637
78,841
8,716
520,194
500,157
CREDITORS
Amoun1$ falling due within one
year
13
(120,447)
(78,841)
(199,288)
(153,711)
NET CURRENT ASSETS
312,190
8,716
320,906
346,446
TOTAL ASSETS LESS
CURREf4T LIABILITIES
592,261
2,832,357
8,728,716
12,153,334
11,169.803
NET ASSETS
592,261
2,832,357
8.728,716
12,153.334
1,169,803
The notes fom part of these finaTLcial statements
Page 13
continued...

AR'fERSL4 DUC
LIALAN
E SHbE'f- coiitlii
UJirc51ric*d ftind5'.
Cenernl fiiiid
Ne%v S¢hg01
1.5 Flilwfl Sleed dev¢lopineilt
289,765
225.000
77,496
260.234
225.QOO
77.496
592.261
562.730
Restrkied fliiids..
Nthv Sc]iool
Etsdthvnittii fiINds.'
Inn{k￿ Pmperti¢$. Old SKliool Hiid Buildin88
2.832.357
2.831357
8.728,716
7,774,716
TOTAL FUNDS
12,153,334
11,169,803
Tli¢ fiiiall¢illl 5th1¢mern15 iyeie aPpro￿d by Ilio BoRrd ofTrustee5 wid Oiillioiised for lssve 011 16 oc￿ber 2024 and wtr¢
55ghcd oll ils b¢liAifby'.
fr R B￿*r- Thiste¢
/•/Y6k
Mr8 M Cox. Tw5te¢
te I￿1¢% forni of these fjnlnciil $lai¢ni¢nis
Page 14

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STA'fEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the financial 5t8tements asses5Ment of going concern
The fthancial gtatements of the charity, which is a public benefit entity Under FRS 102, have been prepared in
accordance with Accountino and Reporting by Charities.. Statement of Recommended Practic¢ applicable io charities
pr¢p?ring th¢ir arcounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireltnd {FRS 102), the Charities Act 201 land UK G¢n¢rnlly A¢Gepted A¢counlin8 PTactice.
The financial Statements hav¢ b¢en prepared to give a and faiV view and have departed from the Charities
(Accounts and Reports) Regulations 2008 only to the extent requTred to provide a'trne and fair view,. This departure
has involved following th¢ Accounting and Reporting by Charities.. Siaterntnt of Recommended Practice applicable
to charities preparing their accout]t5 ID accordance with the Financial Reporting Standard kpplitAble the UK and
Republic of Ireland issued in October 2019 rather than the ACcou￿ting and R¢portitig by Charitics.. Stat¢m¢ni of
Recommended Practice effective from l April 2005 which iw since been withdrawn,
The financial statements are prepared on a going concem basis under the histtirical cost convenlion, modified to
includ¢ certain items at fair valu¢. The fmancial statements are prepared in sterling which is the functional currency
of the charity and rounded to th¢ T)earest pound.
The trn$t¢es consider that there are no material uncertainties about the Foundation's ability to continue as a going
concern.
Th¢ 5ignificaDt accounting policies applied in the prepardtion of thcsc financial statem¢nts are set out below. These
policies have been consi5Eently appli¢d to all years presented unless otherwise sthted,
Income
All income is rwognised in the Statem¢nt of Financial Activities once the charity has entitleTnent to the funds, it is
probable that the income will be received and thc amount can bc mcAsured reliably. Donations are awoutited for
Using th¢ ¢05t incurred in providing the fixed asset. Rental and service ¢horg¢ income is accounted for in th¢ period
to which it relates.
Expenditllre
Liahilitt¢s are Tecognised 8$ expenditur¢ ¥ soon as there is a legal or constructive obligation commitring the charity
to thai expenditure, it is probable that a transfer of economic benefits will be required in settlement ond The amount
of the obligation can be measiired reliably. ExpendiluT¢ IS a¢¢OUTlted for on an accruals basis and has been classified
und¢r headings that aggregate all cost related to the category. Where ¢osts ¢annoi be dir¢ctly attributed to particular
heading5 they have been allocated to &divit1¢5 on a basis consistent with the use of resour¢e$.
Ormts eye payable to individuals and institutions within th¢ Allcient parish of Wilford.
Expenditwe relating to investinent pro￿rtIeS is a¢¢owiied for on an accmals basis.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not
ac¢n￿d as expenditure.
Tanglble flxed assets
Th¢ land and buildings occupied for the purposes of the Foundation, the Wilford New School and Buildin85, have
been capitalised and valued at the date oc Ihe gift. In 2003 the Foundation paid a contribution of £150.¢M)O towards
the Cost, the r¢maind¢r was funded by the Depariment for Education under the management of The Southwell
Diocesan Board of Education, Additional ¢la5sroom5 subsequently built have been capitalised and valued based on
the cost incurred by the CouNcil. In 2019, an extension to the school hall was built, the Foundation paid a
¢ontribulion of £75,(NJO.
Page 15
continued...

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FIf4ANCIAL STATEMENfs- tnntinued
FnR THF YF.AR V.NDF.D 31 DECEMBER 21)23
ACCOUNTING POLICIES . continued
Tangible fixed v4s5ets
Fixed assets are not depreciated as the amount of any depreciation provision would b¢ immaterial as a result of
th¢ l¢ngth of th¢ e￿IMated rematning use￿] life of the assets and
the estimated residual values of tlie assets not being materially differ¢nt from the book value.
The fixed assets are reviewed for impairmeni at the end of each accounting period.
Investment properties
Inve5thent properties are includ¢d in the fmancial statements at trustees. valuation and are measured at fair value.
Toxgtlon
The charity 15 ¢xempt from tax on its ¢haritsble activities.
Fund accounting
The general fi￿d consists of the accumulation of sury)luses le55 deficits of income over revenue expenditure and can
be used in tt¢¢ordan¢¢ wilh the objecis of the charity at the discretion of the trustees.
The designated funds relate to..
Ihe Follndation's contribution to the cost of the new and
-5 Flitcroft Street development
Th¢ r¢striot¢d fund r¢lat¢s to the new school and represents the Trustees valuation excluding the amount paid by the
Foundation.
The endowment fund relates to the London Properties, Old School and Buildings and certain invesknents. The use
of the incorne from these investments is unrestricted.
Pellsion costs other po$t-retirement benefEts
The rhaTity operates a defin¢d contributioll P¢D5iOn scELeme. Contributions payable to the charity's pension scheme
8Je charged to the Statement of Financial Activities in the pertod to which they relate.
Curr¢nt asset investments
The charity holds cash on deposit for investmenl purposes, in ord¢r to tsbtain a bert¢r rate of return, thEreby
increasing their income enabling them to meet their objects.
Cash at bank
The ch2r2ty holds sufficient fvnds in order to m¢et its shorr term cash commitments as they fall due.
Tenants, Deposit
The charity holds a tenaDt5' deposit in a %par8t¢ dES1￿￿ted account with Skipton Building Society.
Debtors and ertditors rccelvablc I payablc within one year
Debtors and cttditors with no staled interest rate and receivable or payable with one year &re recorded at the
transa¢tion price.
Pag¢ 16
continued...

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STA TEMENTS- continued
FOR THE YEAR ENDED 31 DECEIKBER 2023
INVESTMEDrr INCOME
31.12.23
31.12.22
Rents receivable
Other property in¢ome
Deposit account inlerest
309,868
57,855
4,218
251,625
24,745
,713
371.941
278,083
RAISING FUNDS
Invtstment rn*rtagement cost$
31.12.23
31.12.22
Bad d¢bt5
Insurance premiums
Agents fees
Electricity and g
Rat¢S
Cleaning
Repairs and rnaintenallce
Prof¢s5ional f¢¢s
6,375
19,007
40.692
3,376
3,189
14,981
100,608
14.615
(4,790)
15,878
28,435
8,452
2.264
15,320
62,141
18,532
202,843
E46,232
GRANTS PAYABLE
31.12.23
31.12.22
Educationel grants
Extra staff costs
Other grantg
21.475
76,000
16.552
34,816
74.086
28,117
14,027
137,019
The total grants payable to institutions during the year was &$ follows..
31.12.23
Number
31.12.22
Number
lustitstion
Nottingham Hoods Basketball Club
WYCS Wilford Conllnuniry Group
St Wilfred'$ Church Hall
4th Wilford Brtswnies
St Wilfred'q Church Youth
South Wilford School- ukran1￿5
1,000
1 15,000
1,000
1 15,00
7,500
450
4,500
117
102
4 16,552
5 28,117
Page 17
continued,..

CARTERS EDUCATIONAL FOUNDATiof4
IYOTES TO THE FINANCJAL STA TEMENTS- coDtiDued
FOR THE YEAR ENDED 31 DECEMBER 2023
GRANTS PAYABLE- continued
31.12.23
Number
33 21.475
31.12.22
Numb¢r
51 34,816
Individuals
AUDtTORS' REMUNERA TION
31.12.23
31.12.?2
Fees payable to the charity's auditors for the audit of the charities financial
Statements
2,050
2,050
Other non-audit services
9,744
9.380
Total fees payable
11,794
11,430
TRUSTEES, REMUNERATION Af4D BENEFITS
Ther¢ werc no tru$t¢¢s' remuner&tion or other benefits for the year ended 31 D￿eMber 2023 nor for the year ended
31 December 2022.
Tru51ee5' expen$e5
During 2023 one (2022 - two) trusttt was reimbursed for travel and out of pocket expenses lotalliDg £134 (2022
£2.396).
STAFF COSTS
The average monthly number of employee5 during the year was a5 follows..
31.12.23
31.12.22
Numb¢r of employ¢¢s
No employees received emoluments in ex¢es5 of £60,000.
Page 18
continued...

CARTERS EDUCATIONAL FOUNDATJof4
NOTLS TO THE FINANCIAL STATEMENTS- eorttinlled
FOR THE YEAR ENDED 31 DECELVIBER 2023
TANGIBLE FIXED ASSETS
Wilford
New
S¢hool &
Buildings
COST
At l January 2023 and 31 Dec¢mber 2023
3,057,357
r4ET BOOK VALUE
At 31 December 2023
3,057,357
At 31 December 2022
3,057.i57
The land and buildings occupied for the purpose5 of the Foundation, the Wilford New S¢hool and Buildings, have
been c¢￿1￿1]1￿cd and Viilued at £1,600.000, at the dale of the gift. tn 2003 the Foundation ￿ld a contribution of
£150,000 iowards the cost, th¢ reTnaind¢r was fvnded by the Departtnenl for Edu¢atTon under ihe management of Th¢
Southwell Diocesan Board of Education.
tn 2(M)9 3 new classrooms weiE built at an estimated cost by the TrLtstees of £450,348, which were funded by a
goyemment grant, the finances for which were managed by th¢ Nottingham City Council.
tn 2016 3 n¢w ¢la$5n)gms w¢i'¢ built ¢osting £675,521, which wa5 funded by a govemment grant, the fin8n¢¢5 for
which were managed by the Nottingham City Council.
In 2019 an extension to the school hall was built costing £331,488. The charity Contributed £75,0(M) to this, the
reM￿Trder was fimded by the school and the LCVAP.
A 125 year leas¢. dated l? July 2012 for £nil, has been granted to South Wilford Church of England Voluiiiary
Aided Primary School.
FIXED ASSET INVESTMENTS
Cash and
sett]emenls
pffl]ding
MARKET VALUE
Addition5
55,D71
NET BOOK VALUE
At 31 December 2023
55,071
At 31 December 2022
There wer¢ no investment 8sser8 outside the UK.
Page 19
ontinued...

CARTERS EDUCATiof4AL FOUNDATJON
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
io.
INVESTMENT PROPERTY
FAIR VALUE
At l January 2023
Revalll&tiOIk
7.766.000
954.000
At 31 December 2023
8,720,000
NET BOOK VALUE
At 31 December 2023
8,720,000
At 31 December 2022
7,766,000
Pag¢ 20
continu¢d...

CARTERS EDUCATIONAL FOUNDATION
NOTES Tn THF. FINANCIAL STATEMENfs- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
io.
INVESTMENT PROPERTY- contlnued
Annual
Rental
Property
Tenants
Term of Itase
115 Flitcroft Street
My Beautiful City Ltd
15 years from 13.12.2023
12,000
6 Flitcroft Street
Basement and Ground
Floor
Vacant
1st Floor
Gulbenkian Solicitors Ltd
5 years from 15.06.2020
38,325
2nd Floor
Vacant
3rd Floor
DCL Consulting Engineers Ltd
10 years from 13.05.16
34,000
8 Fliteroft Street
Ground Floor
A Bunn (Pixelate Imging Ltd)
28.0.2022 to 23.06.27
16,000
1st Floor
Bad Wolf
12.11.2023 10 24.12.2027
65,295
2nd Floor (partl
lan Johnson Publicity Ltd
5 years frorn 25.12.2022(2
months rent free in 2023)
30,300
2nd Floor (pail)
Bad Wolf
5 years from 25.12.2022
23,900
3rd and 4th floors
Bad Wolf
1.02.2023 10 24.12.2027
83.000
IIOA M4irJ Road, Wilford HB4D Ltd
Not¢lngh&m
3 years from 17.09.2023
8,000
IJOB Main Road,
Wilford, Trlottingham
E Marshall
2 years from 28.06.22(vacated
December 2023)
10,200
The New School
Transforni Trust
125 y¢ars from 17.07.12 £nil
The Old Sehool
wycs
9 years from 01.03.16 £4,000
p.a., increasing to £7.500 from
19.09.16 to 28.09.17
increasing 10 £15,000 p.#. to
28.09.21
15,0(K)
336,020
Page21
ontinued...

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FIP4ANCIAL gr ATEMENTS - cDntinued
FOR THE YEAR ENDED 31 DECEMBER 2023
io.
INVESTMENT PROPERTY- eontinued
Fair value at 31 D%ember 2023 15 repre5¢nted by..
Valuation in 2023
8,720,000
ii.
DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade debtors
Other debtors
VAT
58,415
12,501
108,230
1,144
4,392
70,916
113,766
12.
CURRENT ASSET INVESTIVIENTS
31.12.23
31.12.22
Cash held on deposit
212,105
266,052
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade creditors
Social security and other taxes
VAT
Other creditors
AC¢n￿lS and defetTed income
14,129
15,905
136
,735
89.250
94,060
80,750
56,920
199,288
153,711
Pag¢ 22
Continued...

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STA TEMENTS- eontlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
14.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.23
Atl.1.23
UJErestricted fund5
General fund
New School
1-5 Flit¢roft Stred developmen¢
260,234
225,0(N)
77,496
29,531
289,765
225,000
77,496
562,730
29,531
592,261
Restricted funds
New School
2,832,357
2.832.357
Endowment funds
London Properties, Old S¢hool and
Buildings
7,774,716
954,000
8,728,716
TOTAL FUNDS
11,169,803
983,53 1
12.153,334
Net tnovemenl in bjnds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
105S¢5
Movement
in ￿ndS
Urtre5trieted funds
General fund
371,941
(342,4101
29,531
Endowment fund$
London PToperties, Old School and
Buildin
954,000
954,000
TOTAL FUNDS
371,941
1342,410)
954,000
983,531
Pag¢ 23
¢ontinu¢d...

CARTERS EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
14.
MOVEMENT IN FUNDS- eontirtued
Comparatives for movement in funds
Net
movement
in funds
At
31.12.22
Atl.1.22
Unrestrfieted funds
General fund
New School
1-5 Flitcroft Street development
292,928
225,000
77.496
(32,694)
260,234
225,(M)O
77,496
595,424
(32,694)
562,730
Restrlcted funds
N¢w School
2.832,357
2.832,357
Endowment funds
London Propertie5, Old School and
Building5
4,7C18,716
3,066,000
7.774,716
TOTAL FUNDS
,136.497
3,033,306
11,169,803
Comparative net movement in funds, included Tn the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
278,083
{310,777)
(32,694)
Endowrnent funds
London Propertie5, Old School and
Buildings
3,066,000
3,066,000
TOTAL FUNDS
278,083
(310,777)
3,066,000
3,033.306
Pagc 24
¢onlinued...

CARTERS EDUCATIONAL FOUNDATION
Tr40TES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
14.
MOvEMEr￿ IN FUNDS- continued
A ¢urr¢nl y¢ar 12 months and prior year 12 months ¢ombined position is as follows..
Net
movement
in fiu)ds
At
31.12.2J
At 1.1.22
Unrestrlcted funds
G¢T)eral fvnd
New School
1-5 Flitcroft Street development
292,928
225,000
77,496
(3,163)
289,765
225,OOQ
77,496
595,424
(3,163)
592261
RestTlCted funds
New School
2,832,357
2,832,357
Endowment funds
London Propertie8 Old School alld
BuildiDg5
4,708,716
4,020,000
8,728,716
TOTAL FUNDS
8,136,497
4.016,837
12,153.334
A eurrent year 12 and prior year 12 Jnonths cojnbined net ]novement in funds, included in the above are as
follows..
Incoming
restrurces
Resources
expended
Gains and
losses
Movernent
in funds
Unrestricted funds
General fund
650,024
1653,187)
(3,1631
ndowment fund5
London Properties, Old School and
Buildings
4,020,000
4,020,000
TOTAL FUNDS
650,024
(653,187)
4,020,000
4,016,837
The designated fLmds relate to..
th¢ Foundaiion's ¢ontribution to the cost of ibe new school and
-5 Flitcroft Str¢¢t d¢v¢lop)n¢nt
The restricted fund relates to the new school and Tepresents the Trustees valuation excluding the &tnount paid by the
Fowidation.
Tenants, deposits received are ring-fenced and repayable to the ten3nt on vacation of the property or earlier.
The endowm¢nt fund relates to the Londvii Proptrti¢s, Old Scbocl and Buildings and certaiEL investments. The use
of the income from the5¢ inV¢Stments is unr¢stri¢t¢d.
P&g¢ 25
continued...

CARTERS EDUCATIof4AL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - Continued
FOR THE YEAR ENDED 31 DECEMBER 2023
15.
EMPLOYEE BENEFIT OBLIGATIONS
The ¢harity op¢rat¢s a defmed ¢ontribution s¢heme. The &ssels are managed independently of the charity and
ontributions are charged to the Stat¢rnent of Financial Activilies in the period they are made. The charg¢ for thE
year was £233 (2022- £233).
16.
OTHER FINANCJAL COMMITMENTS
The Charity has agreed to provide a grant to the South Wilford Endowed CE Primary School of £65,000 for the
2023124 academi¢ y¢ar (2022 - £75,080 for 2022Q3 academi¢ year), £25,000 (2022 - £24,086) of which has already
b¢en paid and 15 includ¢d ill these financial statements. The Charity 1$ ¢ommitt¢d to paying £40,000 (2022
£51,0(K)) to the South Wilford Endowed CE Primary School.
17.
RELATED PARTY DISCLOSURES
Th¢r¢ were no related party traiisaction5 for the year ended 31 December 2023.
18.
CONTROL RELATIONSHIP
The d)ariry is controlled by its Trustees.
Page 26