TIIE fv7AtsNUS EDUCATIONAL FOUNDATION
TRUSTEES, RIPORT AND ACCOUNTS
FOR TFIE YEAR ENDED
5 APRIL 2025
Charlty No 528253

THE MAGNUS EDUCATIONAL FOUNDATION
YEAR ENOED 5 APRIL 2025
tONTENTS
Pige
Chavlty RefèTea)ce and Adt))ID15tratlve Detalls
Trusteès. Report
2*05
stptemenl of Fln?n¢lal Attlvltles
BalaiKe Sheet
Unrestrlcted Fiinds
Restrlcted Funds
Endowment Funds
io
Notés to tho Accounts
iito21
Independent Examlt)eVs Report

THE MAGNIJS EDUCATIONAL FOUNDATION
IIARITY REFERENCE AND ADMINISTRATIVE DETAILS
YEAR ENDED 5 APRIL 2025
Chailty No,
528253
TRUSTEE5 SEAVING IN YEAA TO S APRIL 2025 AT DATÉ OF APPROVALOF TRusfEES' REPORT UNLESS OTHERWISE
INDICATED
Ex Offltlo Truste05
The Mayor of Newark- Cl1* P Ball-Appolnted 14 May 2023,
ReslBned 30 Aprll 2024
The Mayor ol Newèrk- ellr O Ledger Appolnted 15 May 2024,
Aeslgned 11 May 2025
Thè Mayor of Npwark- Cllr B Corrlgan- Appolfited 11 May 2025
The Rector ol Newa¥k- Reverend C Llon- Rtsl¥ned 21 July 2025
Nottlnglianishlre Couiity CoiEn¢ll Trustee5
Cllrs SEnlth
NewdTk Town Counrll Trusiees
ctlr D Moore
Cllr E Cropper
Dlslilct Cliuych Councll Trusteès
J Howlett
Co-optèti¥* TIu5tees
M D Ueaumont CBE
A J Fearn Ichalrmanl
J l Derry (Vice ChcTrlrmanl
G S Carlledge CBE
M Furnes5 KC
ft L W?tklnson
N Wlkl- ¢ieslgned 30 Ap¥ll 2024
I lohnsort- Appo5nted l November 2024
Clerk io the Tlustoos
tvlrs A Alllson
AdmlD15t¥ator
Diifi¢an & Toplls
NG14 ITW
14 Lor¥don RoBd, Newark. 14ottliigh8insh5re,
aiaiity Olflcos
Olymplc House, DoddlnÈton Road, Lln£olh LN6 35E
Independent Examlner
Adr5an Halgli, Stephensoll Nuttall & Co., Chartered Accovfttants,
618 C8Stle Gate, Newark, Nottlnghamshire NG24 IAX
Uankb¥s
Notlonal Wostmlnster B?nk Pl¢
Property AgÈnt5
Brown & Co., The old Bakery, 3 Norm8n Way, Melton Mowbray,
LE13 IIE
Investment Advlsars
BrewlTr OolphiTr SecLiritSes Ltd.
Ofyrnplc House, Doddln8ton Rokd, Ilntolii, LN6 3SE

THE MAGNVS EDUCATIONAL FOUNDATIQN
REPORT OF THE TRUSTEES
YEAR ENDID 5 APRIL 2025
7he frustees present thelr anaual report end nnancial statements lor the year ended 5 Aprll 2025. Thé Fifianclal
Statements liave been PTeF)ared In a￿ordance wlth the Accounilng Policies. set out In nott I to the accouiits a*d In
8ccoYdance wllli the provlslons ol the Statement ol Recoinmended Pr?ctiEe ISORPI 'AccountSfi8 and AeportÉng by
Charltle5" IFRS 1021.
Oblectlvè$ aiid A¢tivStles fai the Publle Benetii
Subject lo payments to the Charity £alled M3grkUS Charily number 222545 Irelerred lo a5 Wofj-Edu¢atlon A¢coDht IA the
Flnantlal StatÉmenlsl the Inoin ohlects of the Charfty are broadly as follgws'.-
To provlde lor the Magnus Church ol England SchDDI such speclal benellts not normally provlded by the local
edu¢atloii auihorlty.
Promotlng the odutatloTr of such puplls and former pup115 under the age of 25 in need of Iln?nclal ass15*ance.
Promoting muslcal educallon of pup115 8ttendlng the school and ol young chor15térs ol the ParL%h church,
The obletts of tl)e Magnus Chality number 222545 Bre to apply tliree elghts ol the clear yearly Income ol The ￿a#nu5
Educational Foundatlon as lollows..
As to twts-ninlhs thprÈof In paylng slx Choristers and six low Boys or Asslstant Chori5ler5 111 the Pa¥lsh Chyr¢h ol
the F.ccle5ia5tlcal Parlsh of St Mary Magdalene, Newark upon frent, In such proportlons 8S the Vlcar and
Churchwardens t>f tlie said e£cleslastlcal yarlsh thlnk flt.
A5 to a lurthei two-nliiihs thereof In maklng payments l) such propoitlons as the sald vicar chvrchwaFden5
think flt to thp Parlsl) Clerk, Sexton Vergers of ihe s?Id e¢(losl85tlcal p3rlsh, or Il there be no parlsh clerk
thers to thE person or persoiis lor the tinie belng performln8 the dutles Iii the said parlsh tustomarlly perForrned
by the parish cleik.
A5 to H further two-nlnths tliereof In rep2ihng and mali)talnlnE the $131d paflsh church and Ihe fuinlture and
Iiitings thereln.
A5 to the Temalnlni thre¢-Dlftths thereof in paylng the same to the Ntstttnaham and Dlstrlct Hosp51al
anauemenl Q)InmltteÈ or It5 lawful sut¢es%or IOT appllcatlon in provldlng lacillEle5 .for the bei)eflt of tlie
p3tient5 in Newark hospltal for whlch prov15ion is not made out of publlc funds.
The Trustees conflrm that ihÈy have referred to the guldènce contalned In the Charlty Cxjmmlsslon's 8eftero18uidan£e
on pijbllc L)eneflt when ievlewlng tlie Trust'5 aims and objectives anrl In plannlt)g future hctlvltles and settlng the grant
makin8 policy for the year.
Gratht Maklng Pollty
The Tiustees conslder spe¢lllc"appllcatl¢ns, relevant to the tharitabEe oble¢dves of the Foundallon, from theSon8 School,
the thurcli, arsd tliè Magnu5 Church of England School. Thc Trustees encouraBÈ the recIpI￿TrtS of speclal gr4nts lo provlde
ieporis ol thelr subsequent achlevements.
The Magiius Charity 8¥a¢it paymenis afe made 4noualfy to the approprlate reclpient5 pres¢ribed by the schemÈ. Thes8
p8ymenls are made In thelr entlrety normally Iii November Inlluwirtg the year end 015 ApTII.
A¢hlevemei)ts Performance
The Trtsstoes conslder that the perloriMan£e of thÈ Charlly this Ye￿ h35 been satlsfactory.
The lollowln8 grants were chargèd to the EdurdtloTh Account:.
121
141
The Magnus Chvrch of Ingland School..
Seneral Gfiint
MiislcTultlon Grant
Church..
NewarkTeam PCC- Cho¥al Scholarshlps
8,400
30,000
Pupils ol thp. Magiius Church of En8land Srhool:
Grant5 to Pupils 11 x £250

THE MAGNU5 EDUCATIONAL FOUNOATION
AEPORT OF THE TRUSTEES- ¢ontlniied
YEAR ENDE[) 5 APRIL 2025
In addition, the Educatlon Account provlded f￿ndS fvjr the expenses ol the sO￿a School of £3O.854, and Song School
Master Graiir of £33,550. The EducatFon A<eount also provlded a grant of ÉJO,50D lor rowlng tultlon tts thÈ fvlègnus
Church of England Academy,
Tl)e followlng gf4nts were charged to the Non-Educètlon Account Scholarshlp Fund, for which an adva￿Ce ol
£36.000 wa5 p8ld duilng the year leavlng £13,227 to be yald 3lter the year end to the prescribed reclplent5 of
the MèEnus Charlty..
111 Chorlster5 Low Boys
121 Parlsli Clerk. Sext¢n bnd Ve¥gers
131 Repalrs to Porlsh Church
141 Newark Hospltal
10,939
10,939
10,939
Flnanclal Revlew
Revlew of Ilnanclal performanee
The Statement of FiiianGial Actlvitles Indlcates Total Income ol £246,20812024 £263,341) and Total Expendlture ol
£297,99612024- E283,1441. Total ExpenditUTe Includes cliaritable Ac1￿ltIeS 01 £206,68112024- E195,3091. TheTrustee5
are 8blo to tfAnsfÉr IA2,046 to the Idu¢Jtlonal Account aDd £49,227 to the Non-EdticbtiDnal Account for the year, ds
shown on page 8.
Investment Pollcy and Performantè
Yhe Charlty is rellant on the Income from Investmenis. The Investmeht income Is broadly recelved from stock exchah8e
Investment5 and securltles, bank Interest and rental Income.
Tlie Trustees have appolnted quolSfied professlonal advisors as dEtalled on p4ge I to thp investn)ent5. 8rown &
Co manage the 8gficultur31 and commerclal propeily In accordanw wlth theli tender for th[5 work. Brewln DDlphin
Securities Ltd maha8e the se¢urlty Investnients on ihe terms ol the Inve5ÈmEnt Pollcy Ststement Subn￿tted to tliein by
the Trustees in atcordance wlth the Trustee Act 2000. TlieTrustees Intend that the real valve olthelr asseis be Maintained
and enhèhced over the long term by InvesEmÈnt comprising equllles, ljxed Intomp Stock, agricultural and coinmErclal
property.
The curient stock market portlollo oble¢tlve is lor 3 balance between in£ome and (*plt31 growth wlth 8 medlum d3k
preference. Tlie stockbroker5 continued to aclively man3Be the portlollo and durlfig the course ol the year the
investEhents sliowed a ttdln on revaluoilon and oft Inveslment Dsset dlspos31s of £52,050, as shown on pa8e 6. Tlie net
gain5 oh révaluatlon and on Inveslment asset dl$p05a15 of £52,(150 were É6,964 crÈditod to Uiire?trltted Fund5 Bnd
E45,086 credSled to Endowtheht Fund5.
TherÈ wasadecrease Sn total imvestmentlncomeol £17,133 compareil to theyrevlous year. The 1nvestment1ncomere￿1Ved
fortheyear amounted to £246,208 coillpared wlth £263,341 In the pyevlous year.There was on Increase kn dlvldehd Income
01 £1,42E. 62nk Interest recelved decreased by E679. Rental IncoFne decreased by £17,882.
Rlsk MaNaEpMÉnt
The Trvstees have ex3mlned ihe major strate8lc buslness and operallonal rlsks whl¢h tho Charlty laces and conllrm that
systems liave ￿en establlshed to enable ie8ulzr repoTts tobe producedso thBI the necessarysteps can bE token to lessen
Ihese risk5. The future remalns somewhat uncertaln, and ihe ch3rlty's alms afid oblecllves may be1Smlled Ilnan¢lally Ih
the sho¥t lerft), butthe resources of the Foundatlon aresullltlently dlverse to enable the Flnan<lal Fgrecast for2025-2026
to be forMulatEd a piudent basls whllsl sllll meelln£ the bas1¢ annual commitnienls,

THE MAGNUS EDUCATIONAI FOUNJ)ATION,
IIEPORT OF TPtE TRUSTÉES- contlnued
YEAR ENDED Jf APRIL2025
Rè5ErvÉs Pollcy
nl
The sum of £6,361.82312024.. £6.326,4671 Is held In Permanent Endowment for the provlsion of Income for the Charity.
lTrveslment5 representing tlie fund may lie chanBed from tlme to Ilme btst cannot be dlstflbutod to benelklarles.
edl
The Non Educatlonal Account transfer from gtheF31 actountof £49,227 1¢$$ £36,O¢XI pald in the year,15 payable at S Apfll
2025 ènd Is Included wlthln (redltors (see pote 111. As a result, there Is a nll balance at S Aprll 2025. The amount payable Is
dlstflbuted In Its entlrety norn)all¥ in November lollowlngthe AprllyearenrS.
Unr
st¥lcted In
omo Fund- E
The Charlly has an Estate Malnteiiaiice Fund for the Ptsfpose of providlng lortlte *halntenance. repalr and iinprovernentof
ts prop¢rlylexclu6lnRthe SongSEhool land and b(IlldlnEsI. Some of the bulldlnus thecharltyowns areold and theTrustees
considerlt necessary to provlde lor theii fÉpalr and maittrtenancg.
Unrestrleted Inco
e Fund- EdL*Cètion Account
TheTrustees are awafethat they need lo Improve aiid malntain the Song School whlth Is è Grade11 LLsted BulldlnE and falls
withln NewarkTown Centre Conservatlon Area. l arsè. amounts of moftey1i3v8 beÉn spent In the past on Ihe Song School.
TheTrustees expect to provide coi)Untsln8suppoit to the Song School.
Addltlonallyi theTrusteeswlsh tostjpportthe Maunu$Churchof EnBlattdSchoolwith sperlalbenellts nolnormally provlded
b¥ the rÈlevant erlu¢atlon a¥thoclLy aiid In the past have devoted Conslderable. resources to thls end. Projects wlll requiro
Trusteesapproval and theTiustetsmayattach coiiditl¢Trn5whefetheydeem il)emaypropriate.TlieTiustees havesvpported
thÈ engdgement of the Mastei ol the Song Schoul at5t Mary Magdalene Church, Newaik aiid madegrants to ch¢rlsters for
their mvslca5 educationwhen appropr131e.
The Trustees wish to contln¥c to hold sufficient funds In hand to ensure ihat they can tontinue to meet thelr long.ter
obll8atlons In these respecls.
Plat)sfot*lie Future
ThcTrustees hove hlstorlcallycomrnitled conslderableresou¥cestO supportthe Ma8nusChuith of England school and wlsh
to Contlnue thls tr8dltlon.
TheTcusteescontinuallyrevlewand Illlancethe Improvement of the ScngS¢hool whlch15 a Grade11 listed bulldlngand falls
wlthin NewarkTowii Centre Con5efwatlon Area.
Stiii¢ture. fjovernince and Manogemettt
The origlnal endowineftt ol land and property wa5 provlded by Thon)a5 Magnus, Archdeacon ol the E3st IlldlnE tn the
Metropolltan Church ol York ¢lrca 1530 and h35 beet) the subject ol numerous chatit3ble schemes over the years.
The MaEfiUS Edu¢ation41 Foui)datlon is prEsently ton8iltulp.d by Cliarlty Commis5ton Scheme n￿rnber S28253 sealed
26 luiie 1985 9$ varled by5chemes dated 24 June 1996 arsd 15 Aprll 1998. The scheme sealed on 26June 1985 iefers to
pay5nents lo the Ch8rlty called the Magn￿$ Charlly which is constituted by Ch)rlty Comm1s51on scheme number 222545
sealed on 19 Noven)ber 1973 which In turn contains provlslons iÉlatlng to payments by Iliat Cliarlly. The payments by
th2 Magnus Charily afe includEd in tlie flnantlal statemeiits and noies and dlstlngulshed seK*arately a5 appropriate.
The Magnus Educ8tton21 Foundatlon doe5 not actlvely fundr?15e an(5 seeks to contlnue the philafithroplc work through
carefvl stewardghlp ol Its Éxistlng resources.
Appoli)tment DI Trustees Is Boveined by the Charlty Scherne as lollows'.-
2 Ex Officlo Trustees (The Mayor ol Newark and ihe Rector tjl Néw2rkl
4 Nom4natlve Trustees ITWO appointed by Newafk Town Council, one by thè Dlstrfct Church Council and one by
Nottin8hamslilre County Counclll
7 Co-optatfve Trlistees (Persons who through reslden¢e, o£cupatlon or employtnent of otherwise have speclal knowledge
ol the town of Newarkl

THE MAGNUS EDUCATIONAL FOUNDATION
REPORT OPTHE TRUSTEES- contlnuéd
YEAR ENDED 5 APRIL 2025
Strurturo, Gov¢rnance and Man?gement. contlnued
Each Nomlnative Tiustee appolnted by the County Councll shall hold offlce for a temi endlng the day of the appointment
of his or her suttessor. Every othei Nomlnatlve Trustee shall hold office for a term of four year5. Co￿ptatIVe Trustees
shall bè appolnted for a temi of five years.
Ordinary geneyal meetings are usually held In June and Ntsvember each year at whlch the Tltistees agree the brtsad
srrate8y and areas of arttvlty for the Charity, in¢luding grant makin& investment, reserves, Tisk management policies and
performance.
The day to day adminlstratÈon ol grants and the processlng and handllng of application5 piior to consideratioft by the
Trustees is delegaied to the Clerk to the Trustees.
The Trustees keep the skill requlrements for the Trustee 8ody under revlew. In the event of a Co-optatkveTmstee vacancy,
thÈ Boaid Èndeavours to recruit a successor with approprlate speclal knowledge.
The inductjon pro￿$$ for any newly appointed Trustee Include5 an inltlal meetin8 wlth the Board of Trustees, a hlstory
of the Trust. coples of the latest Trustees, Report and Financlal Statements and Charlty Commission scheme. Normally.
In every second year the Trustees as a body physlcally inspect the land and Property Invesbnents of thè Charltv.
The Charity ha5 appointed property agents and Inve5trnent advlsors to asslst Sn the management of the investments.
Key Managemefit Personnel and remuneratlon
The Trustees consider the Board of Trustees and the CleFk to the Trustees as compTtsin8 the key management personnel of
the Charlty in charge of directlng and controllin8 the CharSty and running and opeiatlngthe Charlty on a day to day basis.
All Trustee5 give of thelr tim& freÈly and no Twstee remuneratlun was pald In the year. In accordance wlth the ChaTIty'S
8overnlng document the Trustees may pay the Clerk to the Trustees such a salary as may be approved by the Charity
Commissioners. Detai15 of Trustee eKpen5e5 and related parly transacilons are disclosed ID note 13 to the accounts.
Trustees are required to dlsdose all relevant Interests and register them wlth the Clerk to the Trustees and in accordance
with the Charlty's polity wlthdraw from decislons where a confliet of Inte￿1 arlses.
fiustees, respon$lbllltlesln rèlatlon to the flnanclal statements
The law appllcableto charltles in En8land and Wales requiresthe Trusteesto prepareftnaneiglstatementsfareach flnanclal
vear whlch give a trL*e And fair VIÈW of the state of affairs of the Charity and of the Incomin6 resour¢es and appllcatlon of
resources of th¢ Charity for that peri¢d. In preparlng these flnanclal statements. the Trustees should follow bést practlce
and:
Select suitable accounting policies and appSy them consistently-
Observe the Methods and prlncSples of the Charlties SORP 2019 IFRS 1021.,
Makeludgements and EStlmate5 that are rÈasonèble and prudent,.
State whether applltable accountin8 Standards have been followed, subject to any materkal departures di5dosed
and explalned In the fSnancÉèl statements, and
Preparethellnanci31 statements on a going Concern basls unles5 It Is Inappropriate w presume that the Char5ty wlll
continue in operatlon.
The Trustees are responslblefor keeping woper actount6ng records that distlosewith reasonableac¢uracyat any tsme the
flnanclal position of the Charlty and enablèthem to ensurethat the financlalst3tementstomplywlth the CharitiesAct 2011,
the charlties IAccounts and Reports) Regulatlons 2008 and the prov151gll5 of the Charltycommlsslon Scheme. They are also
responslble for safe8uardin8 the 45sets of the Charity and hence for taking reasonable sleps lor the preventlon and
detecti(Trn of fraud and other irregularitles,
lel
Approval
This report was approved by theTrustees on 18 November 2025 arbd signed on their behalf.
Andrew Fearn- T
ee
THE MAGNUS EDUCATIONAL FOUNDATION

THE MAGNUS EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED S APRIL2025
Unr0stTIc￿d
Fund5
Pa8e 8
Rostilcted
Funds
Page 9
EndDWl#èt)t
Fvnds
Page 10
Total
FuMIls
2025
Total
Funds
20Z4
Iiwonie aiid enilDwmonts
Investnienl Income
246 20
24
208
263 341
Totsl Income and endowments
246 208
263 341
endltUTe
Costs of ralslnB funds
Charitable actfvitlÈs
81,585
9,730
91,315
206 681
87,835
Yotal expÈiidliure
otliel reco
nlsed al
osses
Galns/llosspsl on revaluatlon and on
inveslmeaÉ asset (Iisp05als
Galnsll1053es1 gn reyaluatlon #nd on
Investment property dlsposEIs
Total otlier iecogntsed galnslllos5es1
6,964
45,086
52,050
116.769
Nèt Iiicomellexpendllurel
14.133
149,2271
35,356
262
3.7fj3
Trnn$lers hetween lund5
227
Not moyemÈt)t ltt lunds
135,0941
35,356
262
3,763
econclllailon ol f nds
ToEal Funds brought forward
460 987
6 326 467
6 786 854
783 091
Total fuiirfs cariled fr•￿ard
29_

THE MAfjNUS EDUCATIONALFOUNDATIOhl
BALANCE SHEET
AS AT S APRIL 2025
Unrestrlcted
Funds
Page 8
Restrlrted
Fund5
Pale 9
Endowment
Funds
PaBe 10
Total
funds
2025
Total
Funds
Note
FIXED ASSETS
Tangible assets
Investments
550,000
5 942 317
550,000
5 942 317
55OX)00
907 455
TOTAL FIXED ASSETS
6092317
6A92,J17
6rt57055
CURRENT A55EfS
Debtors and prepayments
Investments
Cash at bank. transit and in hand 10
61,499
147.195
341434
61A99
147,195
224 167
66,542
141,808
228 567
227
TOTALCURRENT ASSETS
550,128
13,227
1130,4941
432,861
436,917
LIABIIITIES
Credltor.s'.
Amounts fallSnB due wlthin one year 11
13
107 S18
NET CURREPIT ASSEtSI1L¥ABIt￿1E$)
425,293
11300941
294,799
3ZY,399
YOTAL NET ASSETS
THE FUND5 OF TFtE CHARITY
Endowment funds
Restricted Income funds
Unrestrlcted Intome fund5
12
12
12
6,361,823
6,361,823
6,326,467
46
TOTAL CHARITY FUNDS
Approved by the Board of Trustees on 18 November 2025 and signed on Its behalf
And￿W FearnJEU&tte

THE MAGNU5 EDUCAYIONAt FOUNDATION
UNRESTRICTEf) FUNDS
FOR THE YEAII ENDED 5 APRIL 2025
General
Accoiini
Estate
Educatlon
Maliilenance Ac£oiint
TOTAL
2025
TOTAL
2024
Note
IhtomÈ anil 8ndowmfr
Donatlons
InyÈslniei)t Income
Dlvldends
1ftte￿st
Rents
Total Income
50,4B2
8,731
186 995
246 208
50,482
8,731
186
246 208
49,054
9,410
263 341
endlturè
Cost ol ralslng fvntls:
InsurontL
Commlsslon lettings and expenses
Malntenan£o and estate Inspection
Dank cliarges ènd sundry expenses
Dralnage rates and countil tax
Ilglit and hoai
Legal fees
7,3S1
14,760
29,822
289
17,768
4,184
411
7,351
14,760
29,822
289
17,768
4,184
li
585
6,773
20.133
19.170
281
7,366
9,464
Son8 school expenses
Benellts
Muslc&l edutètio
Salary ai)d diybursements
Clerk to the Trustee%
ACCO￿￿tancY and compltanc2
Indeper¥dent exdMln3tlon
30,854
49,2CQ
44,050
30,854
49,200
44,050
14,095
48,650
41,ou)
18,000
13,440
20,083
15,653
13,440
io
157
54
T4)tal expondltiirg
935
239
222 939
Ollier re
Isod alhs
losses
ftealised gains/l105sesl on investmenl d15posals
Revtiluatlon re¢ognlsed in prevlous years
realised In curfent year
Revalubtion Èalnslllossesl lor the year
Total otlier recoRTh15eKI gain511105sosI
3.338
12,5231
815
12,7671
579
5,335
72
964
2L15
Net Income/lÈxpehdltu¥ol
131,273
181 1117,1321
14,133
54,217
Transfer to Educallon Account
182,0461
82,046
Tran$fer to Resiil¢ted FYMIS
54
Nèt movement In f￿￿￿$
laS,Q06)
135.0941
169
Reconclllatlon of
nd$,'
Futtd5 brought forward
455.614
46
387
460 218
Fvnd5 cariled forward

THE MAGNUS EDUCAYIONAI FOUNDATION
RESTRICTIO FUhtDS
FOR THE YEAR ENDED 5 APRIL 2025
No#.Educatlort
Account
Scholarslilp Fund
TOTAL
2025
TOTA
2024
Nole
Income and endowmettt
Transfer fiom general Bccount
Total Iiieome
endlture
Charltable Actlvltlès
Grants payable
Total eKpendltiire
49
Nét movèment$ In funds
RecoM¢lllatlon ol flihds:
Funds brou8hi forward
Funds tarrled forward

THE MAGhlLIS EDUCATIONAL FOUNDATION
ENDOWMENT FiJNDS
FOA THE YEAR ENDED 5 ApfiiL 2025
Investment
properiles
iovaliiatlot)s
TOTAL
2025
TOTAL
2ll24
Nott PÈ¥M8#eiit
In£omo and ondowments
Inlerest receSvÈd
Total Income
endl
Costs ol r31slng Iiinds..
Investixent nianagement costs
9,730
9,730
6,157
Total expeiidlture
730
other reco
Mlsed hlns
IDsses
fte311sod gaSns on Investment dIspos￿$
Revaliiation reco8nised In previous years
reallsed Ill current year
Hevaluation gainslllossésl f¢rcurrentyear
Properly rev3luotion losses foryear
Total other feco8nlsed ga1nslllo￿esI
12,051
12,051
11,915
16,0951
39,130
16,0951
39,130
116,9921
108,031
86
Net Iiicomellempendiiurél
Transfer to Vnrestrlcted Fund5
35,356
35.356
3,594
Net niovemenl It) Ivllds
35,356
35,356
3,594
to
tlllatlon ol funds:
Funds brouBht forward
6 326 467
Fuiids carrled fo￿ard
io

THE MAGNU5 EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS
FOIt THE YEAn ENDED 5 APRIL 2025
PFIINCIPALACCOUNIING POIICI£S
1,1 B8slsol Prèparatlon
The linan¢131 statemeots are pfepare¢l onagoing concÈm basls linder the hlstorlc81 costconventlon a5modllled by the
Incluslon ol tanglble fixed asscts and lThvestments at marketvaluc anrl include the result5 of tlie Chadly's operatlons
whlcli are described In theTiuste85' Reportand all olwhlch are contlnuing. Ir¥ preparln8 Ihe Itn8n¢131 sl8ternents the
Chailty lollovls best practice a5 lèid dow&1 in Aicounlln8 411d fteportiiig by Chafitles.. Sl8tÈment of AecoMmÈnded
Practlce appllcable to tharltles prepar5ng thelr accounts In 3£cordattce wlih thÈ Fini& nual ReportlnEStandard ap￿IC￿lIe In
thelJ%and ftepubllcoflielandlssved InOctober2019, the linancial ReportlnBSlandardapplkatylÈln the Unlted Klngdomand
ftepublicof Irelènd (FR5 102kthe tharitlesA¢t2011 artd UKGertera1￿Accepted Accwntlngpraclice.
The f￿￿ClaI slaternents have been prepwed togwe a'tfue 3nd18irf vlew and have departed Irom the Chai5ties IA£counts
ènd Reportsl Re8ulations 2(IM only to the ext¢nt required to provldÈ a'true and fall vlew. Ihls departure has invdved
following the Accouiitlng and Reportlii8 by Charttles., Statementof Recommended Practi￿ dpplkable lo tharities prep3rin8.
Ihelraecounts In accordènce. with the F5n8ndal AeportlnEStandard in the UK and RÈpublkof Ireland Issuod kn Oclober2019
ratherthantheAccouTrtingand RÈportlngbyCliarIt￿5..Sta1ementQIRec0mMÈnded PraCti￿effectIveffO￿ I￿Vr11?￿swhk1)
has slncèheenwlllidrawn.
The Charltyton$tltutesa pvbllc bp.#ellt entlly as deflned by Ffts IQ2.
1.2 Funds Striicture
Unregtrlctod lunds ale avallable for use at the dl£crÈtlon ol the Trvst2es in lurthe[all￿ of the geneial oblectlves of
the charityafid whlch have not beei) desl8natÈd lor oiher purposes.
Oe51gn£ted funds fomprlséunreslricted Ivnd5 that l)ave been set aslde by the Trustees lor parllcular purposes, Yhe
alm and use of each desIgnat￿*und Is set out In thè notes to the Ilnat)¢lalstatemehts.
Restrlcted ltsnds are funds whlch are to be used In accord8nce wlth 5peciftc reslrlctlon5 Imp￿ed bydonors orwhl£h
have beon raised by the Charlly for parll¢ular purposes. Tlie costol raislng 311d admlnlsterliigsu¢h lundsare diar8ed
agalnst the speclllclufid. The alm afid use ol each restrlcted fund Is set out In the notes to theflnanclalstatethents.
Endowment lunés represeiit lhose assets wlilcl) must bÈ held yermanently by the Cliaflty. Income ari5111B on the
endowment luiids can lje used Iii accordance¥vlth the objects cf thÈ £harlty and Is Intluded as unreslrlcted In£omE.
Any capital gains or losses arlslng cn tlie Investments lorrn part of the fund. In¥estthènt man3gem2nt charges and
legal 8dvlce relatln8 to thefynd are tharges aÈalnst the lund.
1,3 lTh£ome re¢o8nltSon
All Inctsme Is Included lft the Stateniént ol Flnanclal Actlvltle5 when the Charityls leg¥lly enlltleLI to the Income 8fter
ai)y performance condlllonshave been met, theamount can be Meas￿re￿re1l3bl¥, and It is probable th3tthe Income
wlll be recelved.
Investment Inc¢xne is earnedthroveh holdlngassets lor Inve5tmenlpurposessUth asshares and property. It includes
dividpnds, InteresL and lent. Interesl incon)e, dlvldend and rent In¢oine Is recoEnlsed as the Charlty% rf8ht to recefve
pèyment Is estsb115hÈd.
1,4 Expèrjdlture ie¢og¢)Itlt)n
All expendlture Is accountEd lor on an Kcrvalsliasls. Expendlture Is re¢ogn15ed whF.re there Is 8 legal orconstrucllve
obligallon to make payments to tlilrd pa¥lles, It Is probable that tliÈ settlement wlll be require￿, and the amokl*lt ol
the obllgatlon tan be meosured rellably. It is categorlsed urÈder the lollowlng headings..
Investmtnt man3Bel￿enti0StS Include portlollo man&gemenl, rent colle¢Llon, investn)ent properly costs,
Expendlture on diaritable a¢lfvltles In£lude$ grants niade and governance costs wlii¢li includes all tOsl5 Involviag
the publlc arcountablllly ol the Cliafity and Its compliance wltli co￿St1tvti0naI and statutory reKulatlons and sodd
pr3ctlce.
Grai)ts payable to thii'd partles are within the ¢barltabl8 oblectlve5. Where untondltlonal 8rants a￿ 151fered, Ihls
Is actrued a5 soon as Ihe reclplent is notified ol the grant, as.this give5 rlse to a reasonable expectallorl that the
retlplent will recelve the granls. Where grants are condiilonal ￿latIng lo perlorrnajie then the 8ranl 15 Only
ac¢rued when any condlllons are lullllled.
li

THE MA(yNUS EDUCATIONAL FOUhlDATION
NOTES TO YHE ACCOUNTS - coi)tlnued
FOR THE YÉAR ENDED 5 APRIL 2025
1.5 Vglue Added Tax
Thg Charity Is regigtèred for VAT and tre3ted 35 PartlBlly eKempt. Intome 1$ shown fiet Bfter dedutlion of o(Itput
VAY and expendlture Is shown net of VAT in tlie Instances where il 15 approprlat8 to reclalin Input VAT.
1.6 Tanglblè Flxed assets for uso by the Charlty
T8nglble Flxed assets a￿ stated at t05t lor deeined cost on transltion to FRS 1021. freeliold propÈilies ale
mainlainetl In è state olrepairsuch thattheirestlmated resldualvalue 15 not less Ihan their carrylngvalue 85 a fesult
ol whlch the annual chaige for depre.£18tlon Is nil. The l.reehold propeitles are reviewed by the Trustees at the end
of e8ch reportlng pÈrlod lor any Indicatlon of impaifment. If such ind1c￿tIOn exlsts, the recoverable amovnt Is
estlmated and con)pared to the carrying amount. Whp.rÈ the carrying amount exceeds the retoverable zmount, ah
Impalrment 505s Is reco8iilsed In expendllure through the Statement of Finantlal Actlvltles,
1.7 Herltage a55ets
Heiitage assets are recogn15Ed on tlie baltbnce sheer and Initially mea5urÉd at cost when puichased or11 donated,
Ihelrvalu8tion, Asset5 aresubs¢quentlysiated atcost lordeemed costoh transltlon to FRS 1021 &nd for the reason5
stateil on 1.6 abové thÈ anfiual ¢h8r8e lor depreclatlon Is nll. Fair values lor donated assels are estlMatÉd by
referènce to marketprlces.
WI?e￿ Inlormatlon oli ilie eost lor deemed tost 011 transltlon to FRS 1021 of lierltaBe assetsls not ava118ble or the
tost ol provlding such Inlormatlott 51gnilleantly outweighs any benefit to the users ol tlie accoufits then her*ta8É
sset5 are not recognised on Ihe balance Sheet.
1, 8 Inye&tMont proiiertles
Inve5tmei)t propÈrtlos a¥e valued at opeft market valuÉ by the tTUStees wlth changes In ¥alLie rew8h15ed in 'net
Ealnslllossesl ort Invoslments, In the Statetnent ol Flnantlal Activltles.
1,9 l#ve5tmÈnts
Investments In socuritles aye rEw8nlse¢ InltSally at lalr value whlth Is normally the trèn$3¢llon prlce exclufslng
transact40rs costs. Subsequenllyj thEy are nie3sured at18lrv8lue wilh ch3n8e5 recognlsed In'net Ealn5111ossesl on
Investments, in Ihe Slpteniet)t ol Finan¢l?l Actlvllle5 11 the shares are publlcly t18ded or tliÉS¥ lalr vhlut can
otherwlse be me35uied rellably.
CurrEnt asgets Iiivestmenls are sliort te¥m Iiighly Ilquid Investments and are held ai laSrwalue.
1.10 Debtors and cTcillto¥s Yecelvable/p)yablè wlthln one year
Debtors and credltors recelvable or payable witliin one year are recorded at transactlon pilce.
1.11 Tax
The Charlty Is an exempt Ch3rlty wlthlh the meaftlng o15cliedule 3 01 the Charllles Act 2011.
1.12 Goli)g Coiicern
The ftnanclal statements have been prepared on 8 8olnB toncwn ba51s 3S the trustees belleve. that no mater181
ncpitalnt1È5 exlst. Tlie 7rustee5 118ve t01151dEred the level ol funds Iielil and ihe expecte.d level of I￿rol￿e and
expÈndllure lor 12 months from aulhorisifig these Ilnancl31 statements. The budgeted Incoine and expendlturÈ 15
sulllcieiit wllh ihe levol of funds for ihe Chailty to be able to cantlnue as a golng c¢wicern.
1.13 External Scrutlny
UndÈr the ChBI'ltles Act Regulatlons relatlng to the audlt threshold no audlt Is leouired for Ihe year to 5 Aprll 2025
ut the linanclal statements for that year requlre an Independent Examinatlon.
12

E MAGNUS EDUCATIONAL FOUNDATIO
NOTE5 TO THE ACCOUNTS - contl#ufjd
FOR THE YEAR ENDED 5 APRIL 2025
The charlty1185 chosen to ad¢)pt Sections 11 and 12 01 FRS 102 In rospect of ftnanclal Instiuments.
Basle Iliianclal a$5ets, includlng trade 8nd othÈr deblors ènd cash and bank balancès ère Inatlal￿ reco8nised at
Iransacuon piice, unless tbe arfangement constllutes a flnanclng transaction, where the transact¢on Is measured
at the present value.of the future recelpl5 dlscounted at a market late ol IntÈre5t.
At iho end of each reportlng pÈrlod IliiaTrcl31 as5eÉ5 nieasured at amorllsed cost are a55essed for oblettlve
evldenc8 of impairment, If hn asset is Smpalied Ihe Impalrment lossls the dllleience between tl)e ¢airylng amount
and the present value ol the estlmated casli flows dlstourtted at Ilie asset's orlglnal elte¢tlve Interest rate. The
ImpalrmeTht loss Is recognlse<t In profit or Ios5.
other Iliiandal 85sets, Includlng Inve5¢mÈnts In equlty Instruments whlch are not svbsldlaries, Jssoclales, orlolnt
ventures, are Inltlally measured at falT value, whlch Is normally the transscLion prlce.
5ucli assets a￿ subsequenity cairied at falr v31ue and the changes in lair value are reco8ni5ed In Ihe Incom
5tatEmEnt, except that Inweslments in equlty Irkstrumentg ihat arenot publlcly traded ènd whose lalrvalues canRol
be mea5urÈd reliably Bre megsured at co.41 less Impalrment.
Fln?hdal 8ssets are derecogn15ed when lal thE contrattual rlghts to the tash flows from the assÈt expirè or ale
seltled, or Ibl subslèntl£lly all the rlsks 3nd rèw3rd5 of the ownershlp ol thè asset 3re transferred to a￿￿ther party
or Icl control ol the assét has been transferred to anothÈr party who has tlie practlcal ablllty to unllaterally sell
the assel to an uiirÈlalÈd third party wlLhou¢ imposln8 &ddltlon81 ¥e5trictltsns,
Das1£ Ilnanclal Ilabilltles, Including trpde and other credltors, bank loans, ltsans from fellow @roup comppnles and
preference shares that are classified as debt, are Inltlally retognlsed at Irangattlon prlce, unless the arriingement
¢Dnstilutes a linanElnB Iransactlon, where the debt Instrument Is measyred at the present value of the future
fÈcelpts dlscounted ?t a ma¥ket rate ol Interest.
Debt Instrun)ents are sub5equeDtly rdrried tt <imortlsed cost, uslhg the effective Inlere5t rate method. Trade
£redltors aro obllgatior15 10 pay for goods or sprvlces that hève been acqulred In ordlnary course ol bu51ne5S
from suppllers, Account5 payable aro £lassllled a5 tvrrent Il£blllties If payment Is dve wlthln one year or less. If
noL they are presented as non-current liabllSt5es. Trade Credltors are fecognlsèd initl3lly at t¥allsactlon prlce and
sub5equElltly meèsured 8¢ 8Morlised cost uslng the elle¢tlve interest meihod.
SONG SCHOOL EKPENSES
2025
2024
Water lates
Councll tax
Improvements and rep3Srs
Vehlcle rlght ol access
i.iii
3,624
24.252
loo
1,794
3,447
6,878
loo
13

T14E MAGNUS EDUCATIOIJAI FOUNDATION
NOTES TO THE ACCOVNTS - contlnuert
FOR THE YEAR ENDED 5 APRIL 2025
EIENEFITS
2025
2024
Magnus Ch￿r¢￿ of EnEland School.. GonerJl Grant
Granls to puplls-. 11 x£25012024,, 15 x £2501
fvluslc Tultion Gfént
ewark Team PCC- Choral scholarshlps
MuskTultion Wages Grant
Clitsrch Cholr Germany Trlp Grant
R￿waking St Mary M?gdolene
Intern Progremme
8,400
2,750
30,000
8,400
3,750
24,000
5,500
17,0201
2,500
10,000
MUSICALAND SPORT EDUCATION
2025
2024
Song School Moster Grant
Rowlng Grant
33.550
30,500
500
RESTRICTED FUNDS- GEIANTS PAYA9LE
2025
2024
Non-E
tatlom Accounts
st Mavy IVlogdHlone Church
Chorlsters and Low Boys12191
Pa¥Ssh ClerL Sextoii anil Vergcrs12191
Repalrs to Parlsh Chur£h12191
10,939
10,939
12.011
12,011
32,817
Newark Hospltal
Newark Hospltal13191
048
TANGIJJIE FIMED ASSETS
Freehold
Land and
Bulldings
Deemed CDSt
At 6 Aprll 2024
Additlons
At S April 2025
550,000
550,OCrf)
50
55
Net b￿k valye
At S Aprll 2025
At S April 2024
550 000
The Charlty owns Ireel)old land Iwildings OCCL*Pitd by the Ma8ftus Church of En8land School and freehold18nd
and bulldlnEs known ès The Song School. goth ofthese properlles are Eonsidered to be herll8ge 8ssell. The Trustees
elected to usea val￿￿tIOn ol Freehold Laiid and Eluildliigs31 S Aprll 2016a$18lrvalue on tran51tlon to FRS 102 and used
that lalivaluefis deemed £ost.Adeemed costof £550,OODh4s beenplacedonTlieSort8 Schoolrepresentlngthe market
value at S April 2016. It Is iiot Intended that thls a$5efwlll be 5ubje¢l lo revaluatlon. No Oeemed cost has beeh plated
on Mggnus Church of EIiE1and School as the cost ol provldinB such Infor1￿8t1thn sl8nlflcai)Ely outwd&hs any benellt to
users of the accoyi)ts and iherefore thls herltgge a55et has not been recognlsed on the b?laftcesbeet.
14

THE MAGThIUS EDUCATIONAL FOUNDATION
NOTES TO TFIE ACCOUNTS - contlnued
FOR THE YCAR ENDED 5 APRIL 2025
FIXED ASSET INVESTMENTS
Permanont Endowment
Ilsted
Investnients
Note IJ
Ihv4stment
propeitle5
Casli
Total
At G April 2024
1,470,430
32.025
4,405,000 5,907,455
Add511ons
253,535
253,535
Dlsposal
1250,9781
12SO.9781
Revaluatlons
39.130
39.130
Cash Movement
825
At S Aprll 2025
4 405 000
tlstÈd Inveslments represent investments malla8ed by 8rew¢n Dolphln and artshowft at 5Aprfl 2025 maiket value.
Tlie InvestmentpYopertle5 werevalued on an open MOrketvalue basls bytheTrustees on 5Aprll 2025.TheTcusteos
con51derthesa valuations tobe re850nablè èiid ITh Ilne wlth Ihè most recentlHdependpotV31u3tlon dated IOAiigu&t
2023 hy a prolesslon81 valuer who has ieGent experience In the lo¢atlon and cl855 01 pcoperty bclng valued. The
Triistees do not coiislder It nece$5ary to obtain a formal È.Ktornal v31uation as¥aluatlons are consldeied reasonable
and are supported by alternatlvts sources ol Inform8tloTr.
The hlstorlt cost of the Ilsted Invesiments on 5 April 2025 wès El,336,72212024 £1,328,072).
The hlstoric c05t of ihe Investmoi)t propertle5 on 5 Aprll 2025 was £1,352,B3612024 EI,352.8361.
CURRENT ASSET INVESTMENTS
Educatloll
Aecount.
Aceiimlilatloft
of Income
Ngte 17
Estate
Mal*)tenance
Note 16
Total
At 6 Aprll 2024
9,713
132,095
141,808
Addltl¢ns
10.233
10,036
20,269
DIsF>os3Is
19,7131
18,7501
{18,4631
Ilevaluation$
581
At 5 Apill 20Z5
137
41
The hlstorittost bf the Estate Maintenance Investments on 5 Aprll 2025 was EIO,23312024- E6,9461.
The hlstorlc cost of the Education Account Inveslments on 5 April 202S was £105,2161202d- É109,2651.
Is

THE MAGNUS EDUCATIONAL FOUNDAfioN
NOTES TO THE ACCOUNTS - cijntlniied
FOR 7HE YEAR ENDED 5 APRIL 2025
DEiITOftSAND PREPAYMENTS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Value addul tax
Rents held by aEÈnts In arrears
Prepayments
Trent51de bond
748
44,B58
10,518
1,383
56,143
3,641
10. CASH AT LIANK AND IN HAND
202Y
2024
ankdeposit account
8ank current •¢¢ovnt
COIFCliaritlesdeposlt fumd a¢count
In£omeacc4)unt
10,247
27.766
179,475
io,ios
31,353
179,475
228
11. CREDITORS, ACCRUAISANO DÈFEJIIIED INCOME..
AMOUhlTS FALLING DVE wifHIN ONE YEA
2025
2024
ccruals I
bl
NO￿-EdUCIltSOn&l Accourit grant5
£ducatlonal gr8rtts
13,227
42,048
Other cfedl
ors
Prolesslon81 tees
Roles
RehtdepDslts due to tettants
17,282
4.904
13,844
L052
cc
edeK
Investnient In31)agement fees
2,425
700
5,090
1,910
25
2,177
700
4,81)0
1,800
21
498
Ar.tountanty and compli#Thce et
Independent examlnatlon
nk charges
OEferfÉd I
Rent5 iii advance
16

THE MAGNUS EDUCATIONAI FOUNDATION
NOTES TO THE ACCOUNTS. tontlnued
FOR THE YEAR ENDED 5 APRIL 2025
12,
ANALYSIS OF CHARITALILE FUNDS
F￿nd
ilalan¢¢
Brought
Forwavtl
ftevaluotlon ttevaluatlo
F.und
84lnslllossesl rocoEnlsed
Bala#¢e
iteallsed for ¢urrÈrtt Iiiprevlotss
Cwtrled
Income Expendlt¥re galiilllos$1 ye?iend
yeaf5
Tr8nslets Forwa¥d
Fund Mame
Endowmpnt Funds
Péim6nent
Investment propertles
ftewalvdtlort
3,274,303
19.7301
12,051
39,13
16,0951
3,309,659
164
16
12
51
RestTl¢tdd Incrmé Funds
Ilon-Educatlon attount
149,2271
49,227
UnrestilllÈd Intome Fundg
General Atiount
DE5&¥nBteil-Esl•te
Ill&lntenance Fund
DesEgnatÈd-Educ&¢itsn
Accoiinl
246,206 1114.9351
1131.2731
4.773
3,33
15791 12,7671
4,765
35
219
39
815
Bl
8G
246
996
Iz
li
EndowihoNt Fiinds
The purpose of the Efidowft)ent Fuhds Is to ges)erate income for the Cliaiity. Investments represerktln8 thÈ liirtd may
b8 (hanged from tIMe to tlme but tannot be distAbuted to benellclarles.
Restrlcted Income Funds
Non-EdutaÈlonèl Acwunt - tho trJnsler from general account Is dlstributed In Its eThtlrety nort173lly In Nov8mber
follDwlng theApril year ehd.Thisyearaii advaftte of £36,OOOwd5 pald leavlhg E13,227 to be distrlbuted In November
2025 atsd Is Included wlthln £redltors Isee noie 111.
Unrestrltted ID¢ome Futsd$
fjeneral Account- the 'frÈe funds, after allowlng loi 411 desl8n8ted funds.
De5sgnated Èstate Malntenance Fund- the cha￿L¥ has an Estate Malntenance Fiin¢J for thè purpose of provldlftg
the malntÈnance, repali. aftd Improvement of Sis property lexcludlng the SonE School land and bulldlngsl.
Oeslgnbted - Ediitation Acco￿nt- the purpose el the Educatlon Account15 to Ii*prove and maii)taln the Song School,
Support Ihe Magnus Chutfh School wlth spec131 benefits not l)OTm3lly provlded by the relevant eilu¢ation authoritv
and support other speclllc educatlonal projects.
Transfers out Df ihe Gene.ral Account coniprlse the followlng amounts..
Transfer to Noh-Educatlon Account
Traoslèr to Edu¢atlon Acrovnt
49,227
17

THE MAGNUS EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS. contlTi¥ed
FOR THE YEAR ENDED 5 ApniL2025
12. ANALYSIS OF CHARITABLE FUNDS- £ontlnue4
As stated In the object ol the Cliarlly, net Iiicohie on the Geneial Account In thè proportlon three eighths Is
distrlbuted to various charltles. Accordlngly. as shown on yage 8 thls represents three el8hlhs ol E131,273 givln8
rlse to £49,227 whlch Is to be transleried to the Restrlcted Income Fund - NDn-Edu¢atlon Account foi subsequent
payment.7hE tethJinlnE balance Is transferr8d to the Deslgnated Educailon Account wlthln unre5trlcted luiids.
Rf.LATED PARTY TRANSACTIONS
R L Watkln50n is a Trustee and %1 partner in Rlthard Walklnsoh & Partners, SuNeyors, Valuers, AuctlonÈèrs and
Estzte Asents, Thls Ilrm rent two tar parkln8 spa￿$ from the Cliarlty ot a current comrnerclÈl annual rent 01 É976
12024- É9901 eKcludit>g Value Added Tèx. The rent was rev12wed by Brown & Co, Ihe PFoperty a8ents actins for the
Charlty In 2006107.
The Charltls 8overnlng document stales that the Trustees may pay a Clork to the Tru$lees a salary as may be
approved by the Charity Coniinlsslon. The Clerk lo tlie Trustees, A Alllson Is a pèrtnÈr of Knlghts Soliclltsrs. Durlng
the yeaT, Knl8hts Sollcltors chareed the Charlty 8n amovnt ol £IB,OIXJ12024- £18,000) lor tlie ClÉrWs servlces and
£NII12024- £14,518) lor legal fees. At S Aprll 2025 £IG,21712024- £10,844I was due to Knlghts Solldtor5.
14. ACKNOWLIDGEMENT TO THE JOSEPH GILSTRAP SCHOLAIISHIP
In 1998199 theTrustees of theloseph G115trap Scholarshlp Trust restslved undef theChèrlllesAct1993 5.74 to transfer
tlie properly Lif thattrusttoThe Msgniis Educational Foundatlort and thedonatlons from that Charliywere recorded
In the actounts ol The Magnus Educational Foumdètltsn In the yeai to 5.4.99.
18

8 3 8

¥4
g I
k P P 2

INDEPENDENT f XAMINER'S REPORT
70 THE TRU57EES ON THE ACCOUNT5 OF
THE MAGNUS f.DUCATIONAL FOUNDATION InEGISTERED CHAAIT¥ NO. 52825ai
FQR THE YEAR ENDED 5 APRIt2025
Inilependeht Examliief's Rèport to the Trd5tses of The Magfius Edu¢atlonal Foundatlon
I repert to the tharlty tfustees on my examinatlofi of tho accoiints of ¢he ¢harlly lor the ye?r eÈ)ded S Aprll 2025 whlch are
set out on page$ 6 Its 21.
Responslbllltles and ljasls of Report
As the Charlt*s T¢ustee5 you are responsible lor the preparallon olthe a¢counts Inatcoidance with ihe TequlrÈmeTrts ol the
Charitie5 Att 20111'the Ael'l.
l leport in respett ol my examinatloft ol the Charit￿$ accoonts carrled out und?r section 145 ol Ihe Act and ir5 cariyiD8 out
my examlnation I liave ltsllowed all the appllcable Direciions Biveh by the Charfty Commission uttder s2Ctloft 14515llbl ol the
Act.
IiidepÈn<lent Exanilner'sstalerneni
I have completed my examlnation. I conllrm that no Malerlal matters have con)e to my attention In connectlon wlth the
exèffli#atlon giving h)e c?use to belleve that In any materlal iespect..
accountlng records were not kept In respect Of the Charlty as fequlred bysecllon 130 01 the AEL. or
121
the accounts do not aico¥d wllh ih05e recoids: or
131
the accounts do not comply with the appllcable requirÈments concernlng the form and content of accounts Set out
In the Charillés (Atcounts and Reports) Regulations 2008 other thali any requÈremoht that the accounts glve a'true
and f3lr view, which Is not a mattérconsldered 85 part ol an Indepèndent pxamlnallon.
I have no COnCErns and have ¢omo across no other matters In connect5on wlth the examlnatlon'to whlch eltentlon should
be dfawn li) this rÈport In order to enable a proper Iinderstalldlngol ihe account5 to be reached.
Adrian Hai8h FCA
stephenson Nuttall & Co
Chartered Accottniants
618 Ca511e Gate
Newark
Nottlnghamshlre
NG24 IAX
Date:...
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