REGfsTERED CHARITY NUMBER: 528161 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENIS FOR THE YEAR EI¥DED 31 DECEMBER 2024 CARTERS EDUCATIONAL FOUNDA TION Lemans Statutory Auditor 29 Arboretum Street Nottingh Nottinghamshire NGI 4JA
TERS DUC TION FOUNDATION ONTENfs OF THE FINANC STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Pge Report of the Trustees Report of the Irtdend¢Dt Auditors Statem¢At of Finaneial Actlvities 9 to 11 12 13 to 14 Balanee Sheet Notrs to the FinDeig1 StatemeDts 15 to 25
CARTERS EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDF.D 31 DECEMBER 2024 Th¢ trustee5 pr¢sent their report with the fitwicial statements of the charity for the year ended 31 1kmber 2024. Th¢ trnstees have adopied the provisions of Accounting and Re]ning by Charities.. Statement of Recommended Practice applitable to eharities preparing their accounts in accordance witb the Financial Reporttng Standard applicable in tbe UK and Republic of Ireland (FRS 102) (effective l January 2019). The fmancial statem¢nt5 have been prepared lli ac¢ordan¢e with ihe a¢¢outhing p)li¢ies set out iti noies to the aOunt$ and comp]y with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Chari¢i¢s.' Statement of Recommended Practice applicable to charities preparing their accounts in aecordanee with the Financial Reporting SiaDdard applicable in th¢ UK and Republic of Irelw]d publishd in October 2019. OBJECTIVES AND ACTIVITIES ObJts The Scherne of the Foundation requires the Tt¢¢5, having f]r5t d]sdrged their obligations with regard to the upkeep and CODseryation of its proFW and any expenses of the athninistration of the Foundatio to support and assi51 th¢ Sch1 Governors to meet their obligations under the Education Acts and to provide. as the Trustees see fit. any extras not provided by the Local EdUClon Authority The TTUStees may also award grnnts to beneficiaries who live within the Ancieni Parish of Wilford and are under the age of 25. These Grants are of two typ¢5.' l. thdividual Educational Grants awarded once a year, in July, for the ensuing academic year. . Opportunity Grants to enable others to take advantage of parttcular development or training opportunitie5 throughout the year. The Trustees may also award ants to Yoluntsry llp9 which meet within the Anci¢ni Parish and provide opportunities for educatio recreation and development for young people. Volunlttrs All of the mistees provide their time and expertise unremunerated. without which the Charity would not be able to fimctiOD. Thcre arc no othcr voluntcers. ACHIEI VEMENfs AND PERFORMANCE Charitable aetivitie5 South wilford Sehool Grnnt £70k was awarded to South Wrlford School as an Annual Grant this y¢ar. Grants The subcommittee met during the year and Annual Educational Grants totalling £23,153.10 were awarded to 32 young people and 2 Groups. 10 of the Applicants were over 18 years old, and 2? of the Applicat were under 18 years old. The Charity supported the following groups: - The Hoods IJask¢tball Club- £1,000 was granted to pChaSe new baskdballs and towards trainlng. - St Wilfri(ts Churth- £940 WYCS was awarded £15,000 towards supporting their wot* with young children, to be paid in quarterly insta]ments of £3,750. A further 4 Opportunity Grants were also prOVed in 2025, totalling £3889 for.. - An individual's ballet performance- £540 - South Wilfrid Ctsvh- £2499 for a Sound Sy5tern for School ChuTcb Kids, the after-school club on a Wednesday nighL - Our Lady of Lourdes School - £700 - Brownies- £150 Pag¢ I
CARTERS EDUCATIONAL FOUL¥DATION REPORT OF THE TRUSTFFS FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE Investment performaDce Lomdou PToperti The London properties are divided into office SPaS and are let to a variety of l¢nants. Savoy Stewart deal with day-tothy malters concerning the propenies* giving their professional advi to the Ttee5 when n¢c¢5sary. Try d¢al with insuyance on the buildings. whEth is paid by the Foundation to ensure proper cover and is then Tecouped from the lenants. Property MaDag¢ment Toward$ th¢ end of the y¢ar, Savoy St¢wart aw)ounc¢d that their propety Portfolio will be disbanded., fortunat¢ty, our Account Manager, Rich8Jd Viold will be moving to Graham & Sibbald and taking a section of his portfolio with hi]n including Carterfs. Graham & Sibbald has offices in London, Glasgow, Birniingham and Man¢h¢ster. Th¢ fee strJctLre r¢maills the Same. No 1-5- The Paint Shop My Beautiful Cty COTnmenc¢d th¢ signifi¢¥nt renovation works. Th¢ roof h&8 1)een stripped off and fiY reglazed in id-August. MBC have paid for the re-glazing of the main roof and Cartcr'8 hayc aCed tt> pay for the re-slating of the side Toof. Th¢ new glass roof has l)uilt-in teclmologies to open the windows as the roof heats up. Rotary fans will be fitted, suspended from the ceiling wjd the new op¢n space will be used as a gallery. The brickwork has been ¢leancd up in the eav¢s and looks beauti1. The intention is that all the lintels will be Teplarxd and wrr¢ntly th¢ Stone has been sent off for ana]ysis. io ensure a g(x)d match is made with these beams that are 120 yeaTS or moTe oliL It is Clear that this has been a mammoth task and very well executed. 14Then the roof ]% fmished, MBC will focus on the internal dOrationS inclllding window reptiir, wainting the external brickwork. 5¢¢urity IProve¢ts iDcluding lighting and video cameras to the external facade. The Trustee5 are delighted that after many years of uncertainty. th¢ Paini Shop is now ]ng tUre-prOOfed with integrity a[ sensitivity, to the high end level that this heritage building deserves. Huge congratulations lo all our TTUStEe5 involve oyer the years, for the support of this projeet, and with wial thanks to Chainnan Rob Baxter for his d¢t¢nnlT¢lfj dir¢ciAon and lea(lership, io make this happen. No No 6 Ground and Basement are still void, although Graham & Sibbald have decided io put the5¢ wilts on the maA(et as they are, 10 See if they are leasable in their current stste, wlth any interested customer requestityd the fit they requir¢(L All of the remaining lenants in No 6 are content. Gu]benkil'S office is full, and SineSS is busy. No8 lan Johnson from IJM Publication4 is doing well. Badwolfs break clause came up in June, ixrt instead of in)plementillg it at this at thi5 Stag¢, they have llegotiate41 to extend their break clause by another year. New leases haye been drawi up. Pixelate continue to stWl¢ with ongoing damp issues in the unli, with water sewing up under the concrete plinth into the brickwork, creating high bumidiry levels. Up to now a rnobile de-humidifieT has been r¢nted fimded by Carterfs. but after a recent Da]np consultan SuTYey, it seems the damp issues are significantly worse than imitially thoughi. A drain investigation ha5 receNtly been authorised, and a pernianent dehumidifier is being considered. Consolidaied Developments Ltd ue continuing to develop the area close to the properties. Page 2
CARTERS EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE Soutb Wilford School The ffrst Govem¢)rs Meeting was held in October. Neil Johnson tk over the Governor role. in place of Madeleine Cox, who r¢$ign¢d it] tht Sutnffter T¢ri after many y¢ar$ of dilig¢nt 8¢rvi¢¢. Many thanks to M&d¢leine. Neil has taket) on the Pupil Premiun] L¢ad, which has & focus of the distribution of Gov¢rnm¢nt mon¢y to support disadvantaged children. The role ts a link to ensure that the 8overJunents grants are directed towards th¢ right places and that these fi]nds have the impact that 1$ b¢nefi¢ial. There ar¢ a sizeable proportion of non-en8lish speaking children. who would benefii. The Chwr of the Governors, will be 5tandin8 down this year. Th¢ School introduced a new Fl Kindergarten. in Septernber 24. with 26 places available. There will be & Government Grant for each child. To date 17 ¢hildr¢n have already been recruited. The S¢hool have met with the Play Group to discu&s how this may impact them and their numbErs. The Church Play Group has a capa¢ity of 30 toddlers, free on a Wedn¢sday moming. A fvrther meeting has been Scheduled with the architect and HeAd Teacher to di5GUS5 the placn¢t of the new proposed electric ga¢e. Th¢ Carter Hous¢ Flat IlflA Hey Baby have renew¢d their leas& It was noted that RexGooding had beert invoicing HeyBaby for a lower rental amount than agreed in their Lease. RexGooding have agree41 to organise for this lo be amended going fonvard, ond the £6k rent shortfall will b¢ rewuped from HeyBaby over the next few months. Fl8t IIOB I IOB Top Flat has been empty for som¢ time. the main problem being the damp issues. An extern fix has now been GOll]pleted together with the inslallation of two new glazed roof panels. This Unit has now been leL WYCS and The Old School The introduclion of South Wilford School's new nursery along side their newly established After School Club. in S¢ptetnber, 15 Continuing to bE monitored by CEF, to assess any possible itnpact to WYCS and the Playgroup and their use of the Old S¢hool. FDIANCIAL REVIEW IDvestmenl policy objeetiv¢s Th6 Trustee5 Intend that the rrdl valu¢ of their r¢s¢rvcs IK ProttEd and tnhanKd by investrncnt in some or all of suitsbl¢ equiti¢s, fixed InMe stkS, d¢po#it ac¢ount$ and fixed terms savings bond5. seekitig professional advice as and when appropriate. Page 3
CARTERS EDU ATIONAL FOUNDATIOIY RT OF THE TRUSTEES R THE YEARENDED31 D CEMBER 2024 FINANCIAL REVIEW R*serves poliry The bulk of our income Comes from r¢nt on the LoThdon building5. When fully let, the buildings yield a gross income of soJn¢ £330,IX>O. However, any of OUT t¢nants can Cease to trade or choos¢ not lo ren¢w a lease and this reduce our InMe by up to £IOO,000 p.a. Although our inwmE stream often looks secure, it is susceptible to large and unpredi¢table downward fluGtu8tions. Our Ttgular anllual expendilure falls broadly ut)der the four headings of Managem¢nt of the Charity (Clerkin& aget)Is etc £30,000) support for the Endowed School, the m&iD object of th¢ Charity (£70,000) regular grants to individuals and groups within Wilford (£40,000) and maintenance and improVemet to the London and Wilford buildings (typica]ly £200,000). The school Currently sndS our grant to IY extra s¢affJng and it is e55ential for employm¢nt s¢curity that they know well in advaTLC¢ the level of supw)rt which they can expECt. To Gontinue to gen¢rnt¢ Income from our buildings, it is necessary when¢ver opwrtunity arises, to modcrnis¢ and improve their ambience, os well a5 ensurin8 that they ¢omply with ¢utTeth legislation in all aspects of safety. Such work often ha5 to be done at short Otice at the Gonvertience of t¢Dants or bdween tenancies. With the recent change$ in the funding of university stu(kt)ts. It is our hop¢ that we shall be able to give much greater support to such Students, but in tllls case we may need to give 8 3 or 4 year Commitment. Based on th¢ infomiation abov¢, which indi¢atE5 that we should always be abl¢ to guarantee School 5UPPOrt at least 4 year in advance, be able to inktiate significant developm¢nl work in the London buildin8s as and wh¢n needed and to Gontinue our supportof individu21s at groups within the Anciem Parish, we should retain a reserve of £200,000. This policy will Ix revi¢w¢d annllaily. The total amount of unr¢stricted fu$ held at 31 D¢¢ember 2024 is £327.620, d¢sigtLated funds of £226,201, reided funds of £2,882.357 and elldowment rtds of £8,728,716. Tettant&' Deposits SEpirate bank ac¢oyAts have beeD opened to transfer T¢rtants' rental depDsits previously held by Nelsons. Page 4
CARTERS EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 3J DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMEiYr Reverend Benjarnin Carter, Rector of Wilford. signed the tiriginal Deed in 1727, setting up a Tl wl)¢reby a %hoolm2ster could be employed to teach boys and girls in Wilford, Nottingharn, to read and Hyite. Hi5 salary and the pur¢hase of books were to be paid out of income from properties near Charllg Cross lioad, London. Also from this income £5 a year was io be given to the poor of Wilford and £10 a year to the Charity Girls School in Bloomsbury. Inndon. Rev. Carter died in 1732 leaving the properties to the Charity. together with a sum of money to build a schoolhou$¢ and an exkn suD] to augment the Charitys income. In 1909, th¢ three parts of Carterfs Charity W¢T¢ divided into three separate charities:. Carterfs Educational Foundatio Cartees Charity for th¢ Poor of Wilford 8nd Carter's Bloomsbury Educational Foundation. Each wa5 given some pror and some investment funds. As is shown in th¢ Accow)ts, this Foundation oThTJs tlJr¢e London properties, two of which are listed Grdde 11. Rentals from these properties still provide the fimds needed to administer the aiml of the Foundation. TILe Foundation also owns the principal Obje of the S¢h¢m¢, South Wilford Endowed Church of England Primary S¢hool and the surrounding grounds. The School no longer use5 the Old Sch(KJl House and a Victorian Building. These have been renajned The Carter House and The Old School respectively and both produc¢ a small income for the Tn1. The Foundation is admiDi5tercd by 9 Thi¢e$ - 2 RepreseDtatiY¢ Trngtees and 7 Covoptstive Trustees. The Representstiye Trustces are appointed by Wilford PCC, the GovernoT5 (TrfNottingham High School and Nottingham City Couneil {LEA) and sffve for 5 year8 after which period they may put themselves for r¢-appointment. The Cowoptative Tn]stees are appoint¢d by the Representative Truste¢s and Serve for 8 years. At the quart¢rly Trustee meetings. the Trustees awe the strat¢gy of the Foundation, including consid¢ration of grant makin& investmejjt, reserves and rigk management policies. The day to (tsy administratiojj is d¢legated to the Clerk. Tjustees are indueied and trained in accordance with The'Good Govemance Guide,. On 23rd January 2019 the TTUStees resolved uDanimously to adopt a new Administrative DocumenL and that the Foundation is now admiDlStEred An accordance with the tern]s of the Foundation Ik¢d5 ils amended by this Document. The new Document replaces wording from th¢ 19th Ceiitury with wording which is more r¢l¢vanl today. Few substhntive changes are included, but ihe new Dooutnent inueases the pool of T)wtees to 4 Representative Trust¢¢s 5 Co-optative Trnstees plus 5 local Reetors. The Sch(M)l is now known as sOth Wilford Church of England Endowed Prinry School. Risk MaThagtment The trn5tee5 hav¢ a duty to identify and review th¢ risks to which the charity is exposed and to ensure appropriat¢ controls are in place to provide reasonable ag%llT8nce against fraud and error. Having reviewed the situation, the Trustees believe ih&i the major risk which could face the ch8Tity is a Lack of rental income from the London properties. In this evenL the TTUStees' obligatiojjs could be met initially by the funds in the TntS ReswYe5 which have been calculated to Ver one yeavs expendiwre. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity nUber 528161 PrInci1 gddress Pennine House 8 Stanford Str¢ Nottingham Nottinghamshire NGI 7BQ Page 5
CARTERS EDUCATIONAL FOUNDA TION KEfoRT OF TIIE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr R W Stanley Wilford P0¢la1 Church Council Mrs M Cox Co-opted Mr R Baxter (Chair) COpted Mr R Steel Co-opted Mrs E Sporton Co-opted Mrs S Heining co.opted Mrs S Read Co-opted Mr M Dillon Co-opted Mr N Johnson Wilford Parochial Church Council Cl¢rk to the Trnstees Mr5 J MaTshall Carter's E6CatIOnal Foundation Pennine House 8 Stanford Street Noltlngham NGI 7BQ Audltors Lemans Stathtory Auditor 29 Arboretttm Street NIA¢ingham NOttinghnshir¢ NGI 4JA Page 6
CARTERS EDUCATIONAL FOUNDATIO REPORT OF THE TRUSTEES FOR THE YEAR ETrIDED 3 DECEMBER 202 RERENCE AND ADMINISTRATIVE DETAILS Solieitors Nelsons Pennine House 8 Stanford Street Nottingham NGI 7BQ BnkeTS Lloyds TSB Old Market Squar¢ Nottingham NGI 6FD indOn Property Managernent Graham + Sibbald 72-75 Marylebone High Street London WIU5JW Nottingham Property Agent R¢x Gooding 4 Alb¢rt Road West Brid8ford Nottingharn NG2 5GQ T¢Dants' Deposlts Held with: Skipton Building Society Principal Office The Bailey Skipton North Yot5hire BD23 IDN tnvestments with: United Trust Bank 80 Hayrnarket LoTrJon SWIY4TE Virgin St James Street Nottingham NGI 6FB Man$fi¢ld Building Society Regent Streei Mansfjeld NG18 ISS Page 7
CARTERS EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEfi S FOR THE YEAR ENDED 31 DECEMBER 2024 PUBJ.IC BFNFFIT The Trustees have had due regard to the guidan¢e publish¢d by th¢ Charity Con)mission OD public benefit WI reviewing the Clwity's ain]s and objectives. The object of the charity and details of who and IM)w the cbarity has helped can be found on pages l and 2. STATEMENT OF TRUSTEES, RESPONSIBILrriES The trustees are responsibl¢ for preparing the TttEs, Annual Report and the financial statements in aecordance wilh applicable law and United Kingdom Accounting Standards Wniled Kingdom G¢nrdlly Accepted Accounting Practi¢¢). The law applicable to charilies in England & Wale8 require8 the tn2Stees to prepare f]nancial 5¢at¢m¢nts for f]nallcial y¢ar which give a tn and fair view of the state of affairs of the ehariry and of the incoming resources and application of resources of the cbarity for thai p¢riod. In preparing these flliancial statements, th£ tn]stees are required to.. seleu suitable accounting policie6 and then apply them consi5tently- - observe the methods and Frfinciples in the Charities SORP 2019 (TrKS 102)" - tnake judgements and estimatcs that are reagonable and prudenL stste wfiether applicable accounting standards have been followe¢ subje¢t to any material departures di5c105¢d explained in the f]nanrial ststem¢nts; - prepare the financial slatejnents on ¢h¢ going concern basis unless it is inappropriate to presume tha¢ the Charity will ¢oMinu¢ in operation. The trUe¢S are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial posiiion of the charity and enable them tQ ¢llsure that th¢ fjnanrial 5taiements comply with the Chariti¢s Att 20) I, the Charities {AceouMs and Reports) Regulations 2008 and the provisions of the trust deed. They a also responsible for safeguarding the as5els of the rhprity and henee for tsking re&sonable step5 for the pr¢ventlOD and d¢t¢rtion of fraud and i)ther i]Tegulariiies. Approved by order of th¢ board of trust¢¢s on 15 October 2025 and signed on its behalf by.. Mr R Baxter- Trust¢¢ Page 8
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF CARTERS EDUCATIONAL FOUNDATIOLY Opinion We have audited the fl[c]Ell stat¢rncnts of Carters Educational Foundation (Ihe 'charity? for the year ended 3 1 Dec¢nd)er 2n24 which ciTrmwAse the Stst¢rnent of Financial Aclivities, thc Balance Sh¢¢t and notes to the fmancial stratements, including a summary of significant accounting policies. The financial reporting framewtst* that ha5 been applied in their preparation is appli¢abl¢ law and United KiDgdom Accounting Standards (Unit¢d Kingthm Generally Attepted Accountitig Practice). In our opinion the fitLa1 ateMentS.. give a true and fair view of the %tate of the ¢harAty's affairs as at 31 December 2024 and of its incoming r¢source5 and apwlication of resources. for the year then ended., have been properly preparcd in accordance with United Kingdom Generally Accepted Acwunting Prdrtice; and have been prepared in a¢cordan¢e with the requirements of the Charities Act 2011. Basis for OPiniOD We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and appli¢abl¢ law. Our responsibilities und¢r those standards are further described in the Auditors. Te5pong11)ilities for the audit of the finallcial statem¢nts section of our report. We are indq)endent of the charity in accordanc¢ with thc ethical wirements that are relevant to our audit of the financial staten)ents in the UK, including the FRCS Ethical Standard, and we have fi]Ifilled our other ¢thical responsibilities ID accordanc¢ with these requirements. We believe that the audit eviden¢¢ we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusiorts relating th going concern In auditing the financial statements, we have concluded that ihe tnjstees. use of the soing concern b&sis Df awounting in the prepardlioll of the financial staternents 1$ appropriale. Based on the work we have perfornied. we have not identifia any material uncertainties relating to events or ¢onditlOnS tha¢ individually or rollectively, may cast significant doubt on the charitys ability to continue 28 a going concern for a period of at least twelve months from when the f]nancial ststements are authoriged for issu¢. Our res[SibilitieS and the reswngibilities of ihe tsustee$ with respect to going conrern ar¢ described the relevant sections of this r¢porL Other informatio The trustees are responsibl¢ for the other iDfom)atiort. The other inforniation ¢omprises the infomtIon included in the Annual Report, other than the finanei21 ststements and our Report of th¢ Independent Auditors th£reon. Our opinii)n on the financial ststements does not Cov the oth¢r infornMtion and, except lo the extEnt otherwise explicitly stsied in our report, we do not express any forni of assurance conclusion ¢hereoD. In )nnectIOn with our avdit of the fina[la1 statements, our responsibility is to read the other InfornlI9n and, in thing so, consider whether the other Énfomhation 15 materially inconsisteJ)t with tbe finanrial statements or our knowledge obtained in the audit or otherwis¢ appears to be materially ltated. If we identify such material inconsistencies or apparent material misstsiement%, we aTe required to detemiine whether this gives rise to a material misstatement in the fjnancial stst¢m¢nts themselves. If, based on th¢ work we have perforni¢d. we coft¢lude that there is a material misstatement of this other inforniation. we ar¢ required to r¢wJrt that fAct. We hav¢ nothing to r¢port in tbis regard. Matters om whifh we are required to r¢port by exeeptioll We have nothing to r¢port in respect of the following matt¢rs in latiOn to whi¢h the Charities (Accounts and R¢pons) Regulaiions 2008 requir¢ US to report to you if, our opinion: - the infOrntIon given in the riDl¢la1 statements is in¢onsistent irt any material respect with the trustees, report: or - sufficient accounting records have not t¢ert kept. or - the fmancial statements are not in agreement with the accounting Tecords,. or . w¢ have not r¢1yed all the inforniation and explanations we require for our audiL Page 9
REPORT OF THE INDEPEIYDENT AUDITORS TO THE TRUSTEES OF CARTERS EDUCATIONAL FOUNDATION Responsibililies of tT115tees As ¢xplained MO fully in the Statement of Tn]stees' Responsibilities, the trustees are responsible for the preparation of tbe [ancIal stat¢mtDts which give a tjue and faiT view, and for such internal cthjtrol as the trustees detern)ine is JJe¢¢5sary to enable the preparation of finaDcial ststem¢nts that are free from mtrIal misstal¢ment, whether due to fraud or error. In preparlng the fllwieial statement5, the tNstees are resp5]b]e for 455¢5sing the dwity's abllity to continuc ag A going concern. disclosing, as applieable, matters related io going concern and using the goiDg concem basis of accounting wiles$ the trustees either intend to liquidate the charity or to ee&se operations. or have no realistic aliernative but to do so. Our responsiblliti¢$ for the audit ofthe finaneial statements We have been appointed as auditors under Sectiou 144 of the Cbarities Act 2011 and in accordance with the Act and relevant regulations having effect thereunder. Our obje¢tives are to obtsin reasonable asyurance about whet]Kr the fjnancial statements as 4 whole ar¢ free from material misstat¢tD¢nl. whether due to fraud OT erroT. and to issue a Rep(rt of the Indeident Auditors that includes our opinion. Reasonable assuTanGe is a hi¥h level of assurdnce, It is not a guaranttt that an audit conducted in accordance with ISA5 (UK) will always detect a material misstatem¢nt when it exists. Misstatements can arise from fraud or ermr ajvl are considered material if, individually or in th¢ aggregat¢, Ih¢y could reasonably be expected to inthlence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedure5 are capable of d¢tceting irregularities, including fraud is detailed below: IrregulaTities including frau(L are inslanoes of non-compliance WAth laws and regulations. We desi procedures in line with our responsibilities, outlined above. d¢t¢ct material misstatements in respect of irregularities, ineluding fraud. The specific procedures for this engagement and the extent to which th¢s¢ are rapable of delecting Ajregularities, including fraud is detailed below: - Exercise profe&sional judwent aJ]d maiDtain professional seepticism throughout tbe planning and perfornmnre of the audit. Idenlify and ass¢s6 th¢ risk& ofmaterial misstatement of the financial Statements. whether due to fraud or ern>r, design and perforn) audit procedures re5POT15lV¢ to those risks. and obtsin audil evidence that is suificient and apprOprie to provide a basis for our opinion. Obtain an understanding of the internal control relevant to the audit in order to design audit procedures that are appropriate in the CircWnstae5, but not foT the purpose of expressing an opinion on the effediv¢n¢ss of IbE charily's inlernal control,. Evaluaie the appropriateness of acwwiting wjlicies used and the reasonableness of accounting estimatss and related disclosures made by management. Make enquiri¢$ of mallagement aryl those charged with g0VenCe of any instances of non-con]pliance with laws and regul&tions and of any actual and pot¢nlial litigation and claims: Revi¢w finaneial ststement disclosures to supporting documentation to assess compliance with applicable laws and regulations Because of the i]therent limitatioTrs of al) audiL th¢r¢ is a Tisk that we will not detect all iegUlaTities, including tknos¢ leading to a mateTial mis$tatem¢nt in the fmancial statements or llOD-compliance with regulation. This risk increases the tnore thgt compliance with a law OT regularion is removed from the events and transactions r¢fl¢cted in the fitl¢la] staternents, as w¢ will be less likely to become aware of insian¢¢s of non-¢ompliance. The risk is also greater regarding irregularities orTring due to ud r&ther than ern)r, as fraud involves intentional ¢on¢¢almenL forgery, Collusio omisgion or misrepresentalioD. A further description of our responsibilities for the audit of the f¢]21 statements is located on the Financial R¢poriing Council's website at m.fr¢.org.Vklaudlt0rsreswll91b1Ilt1e5. This des¢riptlOD foms of ow Report of the Ind¢pend¢nt Auditors. Pag¢ 10
REPORT OF THE INDEPEPIDENT AUDITORS TO THE TRUSTEES OF CARTERS EDUCATIONAL FoufiDATION Use of our report This report is made solely to the charity's tNste¢s, &$ a body, in accordance with Part 4 of the Chariti¢s {AOllts and R¢portg) Regulation5 2008. Our audil work has been undertakert so that we might state 10 the charitys tN5te¢5 t]se matte] we are required to state to them in an auditors, report and for no othcr purpose. To the fullest ¢xtent pemiitted by law, we do not accept or &84ume responsibiliry to anyone oth¢r than the charity and the ¢liariWs twsrees as a Ix)dy. for our audit work. for this report. or for the opinions we have foTmtd. Lemans Statutory Auditor 29 Arboretum Street Nottingh8th Nottinghamshir¢ NGI 4JA 15 October 2025 Pag¢ll
CARTERS EDUCATIONAL FOUf4DATION STATEMENT OF FINANCIAL ACTIVITIES YE ENDED 31.12.24 Total fimds 31.12.23 Total funth Unrestricted fjmds Restricted ds Endowment fvnd Notes INCOME Af4D ENDOWMENTS FROM D0Thatio and l¢garies 1201 50,000 51,201 Investhient income 405,703 405,703 371,941 Totsl 406.904 50.000 456.904 371.941 EXPENDITURE ON Raising 334.180 334,180 202.843 Charitable Aetivities Edlleaiional granrs Extra staff ¢osts Other grants 21,753 40,000 20,289 21,753 40,000 20.289 21,475 76,000 16.552 29.122 29,122 25.540 Total 445.344 445,344 342,410 Net gains on itiv¢stsnent8 954.000 NET INCOME/{EXPENDITURE) (38,440) 50,0(M> 11,560 983,531 RECONCtLJATION OF FUNDS Total fu brought fonvard 592,261 2.832,357 8,728.716 12,153,334 11.169.803 TOTAL FUNDS CARRIED FORWARD 553.821 2.882.357 8.728.716 12,164.894 l2.153.334 The notes forni part of these financial statements Pag¢ 12
CARTERS EDUCATIONAL FOUNDAT10Tr4 BALANCE SHF.ET 31 DECEMBER 2024 31.1224 Total funds 31.12.23 Toial fundy Unr¢stricied funds Restricted fiu)ds En(b)wment fund Notes FIXED ASSETS Tangible assets IVestMents Investment5 Envestment prop¢rty 225,000 2.882,357 3,107.357 3,057.357 55,071 8.720,(M)O 8,720,000 8,720,0(M) 225.000 2.882,357 8.720.000 11.827.357 11,832.428 CURRENT ASSETS Debtors Investments Cdsh at bank 10 150,294 263,236 53,009 6,786 157,080 271,952 132,356 70,916 212,105 237.173 8,716 79,347 466,539 86,133 8.716 561,388 520,194 CREDITORS Amounts falling due within one aT 12 (137,718) (86.133) {223,851) {199,288) NET CURRENT ASSF.TS 328,821 8,716 337,537 320,906 TOTAL ASSF.TS LESS CURREfqT LIABJLITIES 553.821 2.882,357 8.728,716 12,164,894 12,153,334 NET ASSETS 553,821 2.882,357 8,728,716 12.164,894 12,153,334 The notes forn) part of the5¢ r]nancial statements Page 13 continued...
CARTERS EDUCATIOLYAL FOUNDATION BALANCE SHEET- coDtiDued 31 DECEMBER 21124 FUF4DS Unrestricted funds: General fund New School 1-5 Flit¢roft Street d¢v¢loptneni Sporting activities 13 327.620 225.000 289,765 225.000 77,496 1.201 553.821 592261 Restricted fvnd5". New School Endowmeni fimdg.. London Properties, Old School and Buildings 2,882,357 2,832,357 8,728,716 8,728,716 TOTAL FUNDS 12,164.894 12.153,334 The fllwicial statements were approved by the Board of Trustees and authori%d foT issue on 15 October 2025 8nd were sigiiEd on its behalf by-. Mr R Baxter- Tntstee Mr R W Stanley- Trustee The notes forni part of these fjnancial statements Page 14
CARTERS EDUCATIONAL FOUNDATION NOTF.S TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing tht fjnancial statements ¥nd asselsment of going eoncern The financial statements of the charity, which is a public benefit entity under FRS 102, hbve been pr¢pared in accordance with Accounting and Reporting by Charilies.. Statemcni of Recomended Pra¢tice applicable to charities pparIng their accounts Én accordanrK with the Financial Reporting Standard applitable in the UK and Republic of Ireland issued in October 2019, the FinanLial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 201 land UK G¢nernlly Accepted Accounting Practice. The ffftancial statements have been pr¢p2red to give a 'true and fai view and have departed from the Charlties (Accounts Report%) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Accounting ¥nd Reporting by Charitie5'. Statement of Recommended Practice applicabl¢ to charities prcparing their accounts in aoci)Tdan¢¢ with the Trinancial Rcporting Standard applicable in the UK and Republic of Ireland isgued in October 2019 T41tber than the Accounting and Reporting by Charities.. Statement of Reeornmended Praciic¢ effective from l April 2005 which has since been withdrawn. The fan¢18] ststements are prepared on a going conrKrn basis under the historical cost ¢onvention, modified to include certain items at faiT value. Th¢ financial statements are prepared in sterling which is th¢ functional crrencY of th¢ rharity and rOnded to the nearest pound. The trustee5 consider that th ar¢ no material uncertainties about th¢ Foundation's ability to continue as a going The SilfiCant accouJ)ting policies applied in the preparation of these fmancial statements art set out below. Th¢5e polici¢5 have been consistently applied w all years presented unless otherwise state(L Income All income is recognised in the Staten)¢nt of Finan¢ial Activities once the charity has entitlement to the fvnds. il is prubablt thai the in¢oMe will be received aThd the amount can be measured r¢liably. Don*ions ar¢ accounted for using the ¢ost incurTed in providing ille red agset. Rental and service Charge income is accounted for in the period to whi¢h it relate%. ExpenditllT¢ Liabilities aTe reoognised as expenditure as soon a$ ihere is a legal or constructive obligation committing th¢ charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and ihe amount of ihe obligation Can be measured reliably. Expenditur¢ 1$ a¢eounted for on an acfflialg basis and has been ¢lassifi¢d und¢r headings that aggregats all ¢ost reled to the category. Where ¢osts cannot b¢ directly attributed to particular headings they have been allocaled to activities on a basis consist¢TJ¢ with th¢ llse of r¢SoUe Grants are payable to individuals and insÈitution$ within th¢ Ancient parish of Wilford. Expenditure relatitkg to investment properties is accountrd for on an aCcnlS b&sis. Grants offered subject to wnditions whiclj have not been met at the year end date are noted as a eommit]nent but not accrued as expenditure. Tagible fJxed a59ets The land and buildings ¢Upied for th¢ purpose4 of the Foundation, the Wilford New School and Building& have en capitalised and valued at the date of the gift. In 2003 the Foundation paid a contribution of £150,000 towards th¢ cosL the remainder was fvnded by the Department for Education under the maTwgement of The Southw¢ll Diocesan Board of Education. Additional classrooms subsequ¢nily built have been capitalised tnd valued based on the c05t incu]red by the Council. In 2019. an exten510n to the school hall was built, the Foundation paid a ontribution of £75,000. Page 15 tlnued...
CARTERS EDUCATIONAL FOUNDATION L¥OTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- continued Tangible fjxed assets Fixed assets are not depreciated as the amount of any deprrfiation provision would be inunaterkal as a ttsult of the length of the estimated remaining useful life of the assets and the estinted residual value5 of the ag5et$ notbeing materially different from the book value. Tb¢ fix¢d 355¢ts ar¢ reviewed for impairment at the end of each accouryting period. Investment properties Invegtment prO1rtieS are included in the financial statements at trnstees, valuation and are tneaSur al fair Yalu¢. TAxalloll The ¢harity is exempt from tax on its charitable activities. Fund aeeountlng The general fund c(ynsists of the ?ccuTnu12tion of surpluses less deficits of income over revenue expenditlwe and can be used in accordance with the objects of the chaTity at the discretion of the trnstees. The designated fiJnd$ r¢lat¢ to: the Foundation's ¢ontriburion io ihe wst of th¢ new s¢hool and 1-5 Flitcroft Street developrnent The restricted fid T¢lat¢s lo the n¢w schtM)l a]Jd represents the Trnstees valuation excluding the amount paid by the Foundation. The endowment relates w th¢ IA)ndot] Propertie& Old School and Buildings and certain investments. The ust of the income from these invesknents is unTe5tri¢ted. Pension costs aDd other p05t-Tetir¢meDi benefits The charity operate5 a defmed contribution pension Sche¢. Contributions payable to the charltys pension scheme are charged to the Ststement of Financial Activities in the period to which they Telate. Current asset investments The rharity holds cash on dewjsit for inVestnnI purpose& in order to obtsin a better nte of renjrn, therety increasltig th¢iT ill¢ ¢nabling ¢h¢m to m¢et their objects. Cash at bank The charity holds sufficient funds in order to meet its short term cash commitsnent5 as they fall due. TenaDts' D¢posit The charty hold5 a tertants, deposit in a sepame deSiated account with Skipton Building Society. Debtors and f reditOT5 receivable I payable wlthln one year Debtors and creditors with no stated interest rate and reeeivable or yab]e with in one year are TecoTded at the transaction price. Page 16 continued...
CARTERS KDUCATIONAL FOUNDATION IYOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT INCOME 31.12.24 31.12.23 Rents receivable Other property income Dewsit aCCont interest 338,515 60,582 6,606 309.868 57,855 4,218 405,703 371,941 RAISING FUNDS Investment management co$ts 31.1224 31.12.23 Bad debts Insurance premiums Agents fees Electrieity and gas Rates Cleaning Repairs and maitiienance Professional fees (725) 24.159 36.827 1.286 5,014 8,545 255,818 3.256 6,375 19,007 40.692 3,376 3,189 14.981 100.608 14,615 334.180 202,843 GRANTS PAY ABLE 31.12.24 31.12.23 Educational grdDts Extra staff costs Other gran1$ 21,753 40,000 20,289 21,475 76,000 16,552 82,042 114,027 The total grants payable to instinilions during the year was as follows.. 31.12.24 Number 31.12.23 Number Institulion Nottingharn lIdS BAsketball Club WYCS Wilft>rd Con)munity Group 4th Wilford Browhies South Wilford S¢hotsl- Ukramians Our IAdy of Lourdes School St Wilfrid'8 Church Sound Sysrem St Wilftid's Chur¢h Youth 1,000 1 15,000 150 ,000 1 15,000 450 102 700 2,499 940 6 20,289 4 16,552 Page 17 Continued...
CARTERS EDUCATIOLYAL VOUNDATJON NOTES TO THE FINANCIAL STATEMF.NTS- continued FOR THE YEAR ENDED 3] DECEMBF.R 2024 GRANTS PAYABLE- eoDtinued 31.12.24 Number 33 21,753 31.12.23 NuDtsr 33 21,475 Jndividuals AUDITORS, REMUNERATION 31.12.24 31.12.23 Fees payable to the charitys auditors forthe audil of the charity% financial Statementg 2,155 2,050 Other non-audit services 10,455 9,744 Total fee5 payable 12,610 11,794 TRUSTEES, REMUNERATION AND BENEFITS There were no tNstees' remuneration or other benefits for the year ended 31 De¢ember 2024 nor for lh¢ year ended 31 Dernber 2023. TTUStees' expenses DurAn8 2024 three (2023 - one) trustees w¢re r¢imbur8¢d for trdv¢S and out of porktt tXPEns¢s totalling £995 (2023 £134). STAFF COSTS The average monthly number of employees during the y¢aT was as follow5.' 31.12.24 31.12.23 Number of employees No employees reCeId emoluments in eXcS of £60,000. Page 18 ontinu¢d...
CARTERS EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAI. STATEMENTS- continmed FOR THE YF.AR END£D 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Wfftlford New School & Buildings COST At l January 2024 Additions 3,057,357 50,000 At 31 December 2024 3,107,357 NET BOOK VALUE At 31 December 2024 3,107,357 At 31 December 2023 3,057.357 The land and buildings 0upIed foT the pUoSeS of the FoundatiotL the Wilford New SCI)1 and Buildings. have bKn eapitalised and Yalu¢d at £1.600,000, at the date of the gift. In 2003 the Foundation paid a contrib10 of £150,000 iowards the oost. the remgRnder was fimded by th¢ Department for Education under the management of Th¢ Southwell Diocesan Board of Educalion. In 2009 3 new classrooms W¢Te built at an ¢5timated Cost by the Trustees of £450.348, which w¢re fvnded by a govenllnent grant, the f]nan¢es for which were managed by the Nottingham City Coull¢il. In 2016 3 new classrooms were built Costing £675.521. which was fwided by a government grant, th¢ finances for which wer¢ managed by the Nottingha City Council. In 2019 an extension to the school hall was built co1ng £331,488. The chariry contributed £75,000 to this, th¢ remainder was funded by the school and the LCVAP. In 2024 playgrouDd impmvemeTJts were carried out costing £50,000. A 125 year lease. dated 17 July 2012 for £nil, has been granted to Soth Wilford Church of England Voluniary Aided Primary School. INVESTMENT PROPERTY AIR VALUE At l January 2024 and 31 December 2024 ,720,000 NET BOOK VALUE At 31 tkrember 2024 8,720.000 At 31 December 2023 8,720,000 Page 19 ontinued...
CARTERS EDUCATIONAL FOUNDATION NOTES TO THE FIIYAYI CIAL STATEMENTS- eontlDufd FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMEIYT PROPERTY- Continued ADDUAI Rental Property T¢n411ts Term of Iase 115 Fliteroft Street My BUl11 City Ltd 15 years from 13.12.2023 12,000 6 Flitrroft Strttt Bas¢Tnent and Ground Floor Vacant Isi Floor Glllbenkia Solicitor5 Ltd 5 years from 15.06.2020 38,325 2nd Hoor Lau1$ Agents IAd 4 years from January 2024 15,(K)O 3rd Flijor DCL Consuliing Engineers Ltd Ioyearsfrom 13.05.16 34.)0 8 Fllteroft Street Growld Floor A (Pixelate Imaging Ltd) 23.06.2022 to 23.06.27 16,000 1st Floor Bad Wolf 12.11.2023 to 24.12.2027 65.295 2nd Floor (part) lan Johnson Publicity L¢d 5 ye4rs from 25.12.2022 30.300 2nd FlIN)r (part) Bad Wolf 5 years from 25.12.2022 23,900 3rd and 4th floor5 Bad Wolf 1.02.2023 to 24.12.2027 83,000 IIOA Main Road, Wilford HB4D Ltd Nottingham 3 years from 17.09.2023 8,000 IIOB Maln Road. Wilford, Nottlngh4En Ms Moara l year from 17.12.2024 10,740 The New School TransfoTrn Trust 125 years from 17.07.12 £nil The Old School wycs 9 years from 01.03.16 £4,000 p.a.. increasing to £7,500 from 19.09.16 to 28.09.17 increasing to £15,000 p.a. to 28.09.21 15,0(M) 351,560 Fair value at 31 December 2024 is represented by: Valuion in 2024 8,720,000 Page 20 continlled...
CARTERS EDUCATIONAL FOUNDATION NOTF.S TO THE Flh'ANCIAL STATEMENTS- coDtinlled FOR THE YEAR EI¥DED 31 DECEMBER 2024 io. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.l2.23 Trade debtors Other debtors VAT 149,383 3,478 4,219 58,415 12,501 157,080 70,916 ii. CURRENf ASSET INVESTMENTS 31.12.24 31.12.23 Cash held on deposit 271,952 212,105 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trad¢ creditors Social security and other iaxes VAT Other creditor5 Accruals and d¢ferred income 22.784 14,129 114 1,735 89.250 94.060 96,685 104.382 223,851 199.288 13. MOVEMENf IN FUNDS Net movement in funds Ai 31.12.24 At 1.1.24 Unrestricted funds G¢nerai fund New School 1-5 Flitcroft Street developm¢nt Sp)rting acfivities 289.765 225,000 77.496 37,855 327,620 225,000 {77,496) 1,201 ,201 592,261 (38.440) 553.821 Re5trictsd funds New School 2,832,357 50,000 2,882,357 Ettdowment fuDd5 London Propenies. Old School and Buildings 8,728.716 8,728,716 TOTAL FUNDS 12,153J34 11,560 12,164,894 Page21 continued...
CARTERS EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢oDtlnu¢d FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT IN FUNDS- CODtiDued Net movement in funds, included in th¢ aknve are as follows". Incoming resoure¢s Resources expended Movement JD fun(ts Unrestricted General fimd 1-5 Flitcrofi Street development Sportiiig activities 405,703 (367,848) {77.496) 37.855 (77.496) 1201 1.201 406,904 {445.344) (38,440) Restrieted funds New School 50,000 50.0(10 TOTAL FUNDS 456,904 {445.344) 11,560 Comp4rxtlves for movement itt funds Net movement in fvnds At 31.12.23 Atl.1.23 Unrestricted funds General fund New School I-S Flitcroft Street development 260,234 225,000 77,496 29,531 289,765 225,000 77,490 562.730 29.53 1 592.261 Re5trleled funds New khool 2,832.357 1832,357 Endowment funds tKTrndon Properties, Old School and Buildings 7,774.716 954,Otio ,728,716 TOTAL FUNDS 11.169,803 983,531 12,153,334 Page 22 continued...
CARTERS EDUCATIONAL FOUNDA TION NOTES TO THE FIIYANCIAL STA TEMETrS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENf IN FUNDS- continued Con)parative net n)ovement in fimds. included in the above are as follows.. Incoming rewurces Resources expended Gains and losses MoY¢ment in fimds Unrestri¢t¢d funds GEneral fiu)d 371,941 (342,410) 29,531 Endowment futtds London Properties Old School and Buildings 954,0(M> 954,(K)O TOTAL FUNDS 371,941 {342,410) 954,000 983,531 A current year 12 months and prioryear 12 montlkS combined position is as follow&.' Net movement in funds Ai 31.12.24 At 1.1.23 Unrestriited fuThds Gerffdl thnd New School 1-5 Flitcroft Street dev¢lopment Swrtin¥ activities 260,234 225,000 77,496 67.386 327,620 225,000 (77,496) 1,201 1,201 562,730 (8.909) 553,821 Restricted fund5 New School 2,832,357 50.000 2,882,357 End0}v¢t fynds L(>ndon Properties, Old School al Buildings 7.774,716 954.01)0 8,728,716 TOTAL FUNDS 11,169,803 995,091 12,164,894 Page 23 continued...
CARTERS EDUCA TJONAL FOUNDATION NOTES TO THE FINANCIAL STA TEMENTS- ntinUed FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT I1¥ FUNDS- continued A Current year 12 months and prior year 12 InthS ¢ombined net movement in fi]nds. included in the above are as follows.. Incoming resources Resources expended Gain5 and losses Movement in funds Unrestrieted funds General fithd 1-5 Flitcroft Street development Srtitig activities 777,644 {710258) (77,496) 67.386 {77.496) 1,201 1201 778,845 (787,754) {8.909) Restrleted ffunds New School 50,IH)O 50,000 Endowment funds London Propertie$, Old School and Buildings 954.000 954.000 TOTAL FUIYDS 828,845 (787,754) 954,000 995,091 The designated ndS relate to= the Foundation's contribuiion to the cost of the new school and - 1-5 Flil¢roft Str¢¢t dev¢lopment - a do[lI0 Tc]Ved from The Wilford Lions been eararked for SI18 activities The restricted fijnd ielates to the new school and represents the Thte¢S valuation excluding the amount paid by th¢ Foundatio Tenants, deposits received are ring-fenced and repayable to the tenant on vacatiOD of the property or earli¢r. The endominent fund relat¢s lo the London Properties. Old School and Buildings and ¢enain investtnents. The use of the income from these inveslments is unrestricted. 14. EMPLOYEE BENEFIT OBLIGAT1014S The charity operdies a defmed contribution scheme. The assets are managed independently of the clwity aDd contributions are charged to the stsiement of Financial Activities in the perlod they are made. The charge for the year was £233 (2023 - £233). Pag¢ 24 continued...
CARTERS EDUCATIONAL FOUNDATION OTES TO THE FINANCIAL STATEMENTS- contin FOR E YEAR ENDED 3 DECEMBER 2024 15. OTHER FINANCIAL COMMITMENTS The Charity has agreed to provide a grant to the South Wilford Endowed CE Primary School of £70,000 for the 2024125 academic year {2023 £65,000 for 2023124 a¢adtmic year}, £nÉl (2023 £25.0(10) of which has already b¢en paid and is included in these fjttaneial stat¢m¢nts. The Charity is committed to payÉng £70,000 (2023 £40,000) to the Sollth Wilford Endowed CE Primary School. 16. RELATED PARTY DISCLOSURES There were no related paTty transactions for the year ended 31 De¢ernber 2024. 17. CONTROL RELATJONSHIP The charity is controlled by its Trustees. Page 25