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
P*ge
Report of the Trustees
Report of the Irtde￿nd¢Dt Auditors
Statem¢At of Finaneial Actlvities
9 to 11
12
13 to 14
Balanee Sheet
Notrs to the Fin*Deig1 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 1k￿mber 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 a￿Ount$ 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
ObJ￿ts
The Scherne of the Foundation requires the T￿t¢¢5, having f]r5t d]sd￿rged 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¢ Sch￿1
Governors to meet their obligations under the Education Acts and to provide. as the Trustees see fit. any extras not provided
by the Local EdUC￿lon 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 p￿ChaSe 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 Ctsv￿h- £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 SPa￿S 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 T￿￿tee5 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 fi￿Y reglazed in
id-August. MBC have paid for the re-glazing of the main roof and Cartcr'8 hayc a￿Ced 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 beauti￿1. 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 d￿OrationS inclllding window reptiir, wainting the external
brickwork. 5¢¢urity I￿Prove￿¢￿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]benki￿l'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 stW￿l¢ 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 t￿k 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 plac￿n¢￿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 Prot￿tEd and tnhanKd by investrncnt in some or all of suitsbl¢
equiti¢s, fixed In￿Me st￿kS, 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
In￿Me 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 s￿ndS our grant to I￿Y 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, re￿ided
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 T￿￿l 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 Char￿llg 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$¢ and an exkn suD] to augment the
Charitys income.
In 1909, th¢ three parts of Carterfs Charity W¢T¢ divided into three separate charities:. Carterfs Educational Foundatio
Cartees Charity for th¢ Poor of Wilford 8nd Carter's Bloomsbury Educational Foundation. Each wa5 given some pror
and some investment funds.
As is shown in th¢ Accow)ts, this Foundation oThTJs tlJr¢e London properties, two of which are listed Grdde 11. Rentals from
these properties still provide the fimds needed to administer the aiml of the Foundation.
TILe Foundation also owns the principal Obje￿ of the S¢h¢m¢, South Wilford Endowed Church of England Primary S¢hool
and the surrounding grounds. The School no longer use5 the Old Sch(KJl House and a Victorian Building. These have been
renajned The Carter House and The Old School respectively and both produc¢ a small income for the Tn￿1.
The Foundation is admiDi5tercd by 9 Thi￿¢e$ - 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 sO￿th Wilford Church of England Endowed Prin￿ry 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 Tn￿tS
ReswYe5 which have been calculated to ￿Ver one yeavs expendiwre.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity nU￿ber
528161
PrInci￿1 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 P￿0¢￿la1 Church Council
Mrs M Cox Co-opted
Mr R Baxter (Chair) C￿Opted
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 E6￿CatIOnal Foundation
Pennine House
8 Stanford Street
Noltlngham
NGI 7BQ
Audltors
Lemans
Stathtory Auditor
29 Arboretttm Street
NIA¢ingham
NOttingh￿nshir¢
NGI 4JA
Page 6

CARTERS EDUCATIONAL FOUNDATIO
REPORT OF THE TRUSTEES
FOR THE YEAR ETrIDED 3
DECEMBER 202
RE￿RENCE AND ADMINISTRATIVE DETAILS
Solieitors
Nelsons
Pennine House
8 Stanford Street
Nottingham
NGI 7BQ
B*nkeTS
Lloyds TSB
Old Market Squar¢
Nottingham
NGI 6FD
i￿ndOn 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 Yot*5hire
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 T￿￿ttEs, 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 trU￿e¢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 fit￿￿La1 ￿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 infom￿tIon 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 Inforn￿lI9n 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 ￿l￿tated. 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 infOrn￿tIon given in the riD￿l¢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 m￿trIal misstal¢ment, whether due to fraud or error.
In preparlng the fllwieial statement5, the tNstees are resp￿5]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 Inde￿ident Auditors that includes our opinion.
Reasonable assuTanGe is a hi¥h level of assurdnce, I￿t 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 apprOpri￿e 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 CircWnsta￿e5, 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 g0Ven￿Ce 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 i￿egUlaTities, 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 fit￿l¢la] staternents, as w¢
will be less likely to become aware of insian¢¢s of non-¢ompliance. The risk is also greater regarding irregularities
or￿Tring 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 {A￿Oll￿ts 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
I￿VestMents
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
p￿parIng 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 f￿an¢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 c￿rrencY
of th¢ rharity and rO￿nded to the nearest pound.
The trustee5 consider that th￿￿ ar¢ no material uncertainties about th¢ Foundation's ability to continue as a going
The Si￿lfiCant 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 r￿ed 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 rel￿ed 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¢SoU￿e
Grants are payable to individuals and insÈitution$ within th¢ Ancient parish of Wilford.
Expenditure relatitkg to investment properties is accountrd for on an aCcn￿lS 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.
Ta￿gible 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 estin￿ted 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 prO1￿rtieS 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 fi￿d 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 inVestn￿nI 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 deSi￿ated 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 aCCo￿nt 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 lI￿dS 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 D￿ernber 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 reCeI￿d emoluments in eXc￿S 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 0￿upIed foT the pU￿oSeS 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 contrib￿10￿ 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 co￿1ng £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 I*ase
115 Fliteroft Street
My B￿Ul1￿1 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
Lau￿1$ 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:
Valu*ion 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 TEMETr￿S- 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 I￿nthS ¢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
S￿rtitig 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￿ T￿c]Ved from The Wilford Lions been ear￿arked for SI￿1￿8 activities
The restricted fijnd ielates to the new school and represents the Th￿te¢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