The Foundation
Castle Square
Ludlow
of Ludlow College
Shropshire
SYS IGD
01584 872846
Ballards LLP
Chartered Accountants
Kingswood Road
Hampton Lovett
Droilwich
Worcestershire
WR9 OQH
29 May 2024
D&ar Sirs
The following representations are made on the basi5 of enquiries of management and staff with ￿levant
knowledge and experience such as we consider necessary in conneth'on with your report on the charity's
financial statements for the year ended 31 March 2024. These enquiries have included inspection of
supporting documentation where appropriate. All representations are made lo the best of our knowledge and
belief.
GENERAL
We acknowledge that the work performed by you is sub5tsntially less in scope than an audit performed in
accordance with Inlemalional Standards on Auditing {UK and Ireland) and that you do not express an
audit oplnion.
We confimi thal the charity wa5 entitled to exemption under section 144 of the Charities Act 2011 the
requirement lo have its financial statements for the financial year ended 31 March 2024 audited. We also
confim that the members have not required the company lo obtain an audit of its financial ststements for
the financial year in accordance with section 476 of the Companies Act 2006.
We have fulfilled our responsibilities as trustees as set out in the temis of your engagement letter under the
Charities Act 2011, for preparing financial statements in accordance with applicable law and United
Kingdom Accounting Standards (UK Generalty Acceptefl Accounting Practice), for being satisfied that
they give a true and fair vi￿.
All the transactions undertaken by the charity have been property reflected and recorded in the accounting
cords.
All the accounting records and related financial infomiation, induding minutes of all management and trustee
meetings and co￿espOndence with The Ch8rf1y Commission have been made available to you for the
purpose of your work.
ASSETS AND LIABILrriES
The charity has satisfactory tille to all assets and there are no liens or encumbrances on the charity'5 assets,
except for those that are disckjsed as applicable in the nirtes lo the finanryal ststemenls.
All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or
dlsclosed as applicable.
We have no plans or inlenlions that m8y mgtedalty alter the carying value and where relevant the fair value
measurements or classification of assets and liabilities reflected in the financial slalements.
Regtstered Charity 528401

The Foundation
Casde Square
Ludlow
of Ludlow College
Shropsbire
SY8 IGD
01584 872846
LOANS AND ARRANGEMENTS
The charity has not granted any advances or credits to, or made guarantees on behalf of, any ttuslees other
than those disdosed in the financial stalemenls.
LEGAL CLAIMS
We have disdosed lo you all daims in connection with litigation that have been. or are expected to be.
received and such matters, as appropriate, have been propedy accounted for 8nd disclosed as
applicable in the financial statements.
LAWS AND REGULATIONS
We have disclosed to you all known instances of non-compliance or suspected non-compliance wlh laws
and regulations whose effects should be considered when preparing the financial slalements.
RELATED PARTIES
Related paty relationships and transactions have been appropriatety accounted for and disclosed as
applicable in the financial statements. We have disclosed lo you all relevant infomiation conceming
such relationships and transactions and are nol awaTe of any other matters which require disclosure in
order lo comply with the requirements of company 2nd charity law or ac¢ountlng standards.
SUBSEQUENT EVENTS
All events subsequent to the date of the financial statements ￿leh require adjustment or disclosu￿ have
been propedy accounted for and discjosed as applicable.
GOING CONCERN
We believe that the thaiity's financial statements should be pr8pared on a going concem basis on the
grounds that cu￿ent and fvlure sources of funding or support will be more than adequate for the
charity's needs. We have considered a period of twelve months from the date of approval of the
financial slatemenls. We believe that no further disclosures relating to the charity's ability lo continue
as a going concern need lo me made in the financial statements.
GRANTS AND DONATIONS
All grants. donations and other income. the receipt of which is subject to speafic lenns or conditions, have
been notified to you. There have been no breaches of terms or conditions in the appliGalion of such
income.
Yours fait
Dale..
Signed on behalf of the board of Iruslees
Registered Charity 528401

REGISTERED CHARITY NU￿1B￿R. 528401
REPORT OF TH
TRUSTEES AND
UNAUDJTED FINANCIAL STATE
ENTS FQR THE YEAR ETriDED 31 MARCH.21124
FOR
FOUNDATJON OF. LUDLOW COLLEGE
MA Skellum FCA
Ballards LLP
I Ic KIng5￿,00d Road
Hamplon Lovett
Droitwich
WorLesicrshire
WR9 OQH

FOUNDATIO￿ OF LUDLOW COLLEGE
cor4TENTS OF THE FINANCIAL STATEf*lENTS
FOR TIIEY
R ENDED 31 2024
Page
Reporl of the Tru$l¢es
lodependent Ex#mintr's Reporl
Statemenl of Fin4nei21 Attivitie$
Balance Sheet
Notes to the Fin¥n¢l*l Statement5
6 10 12
]kt4lled Statemeni of FIDAncl%l Actiiryties
13

FOUNDATIOIY OF LUDLOW COLLEGE
REPORT OF THE TRUSTEES
FOR THF YEA_R F.NDF._D_-31 MARCH 2024
The tnJstee5 Prescnt their rewn with ihc financial $iatcni¢Jis of Ihc charity for thc year cnded 31 Mar¢h 2024. The
m15te¢s have advpled Ihe provision8 of Accuunling and Reporting by Chariiic5.' Staiemenl of Re¢ummcnd¢d Practicc
applicable io charilies prcparitt8 Ihcir accounts in accordance wilh the Fbnancial R¢]x)rtit)g Siandard applicablc it) thc
UK and R¢public of Ireland {FRS 102) leffeclive l January 2U191.
UBJEcfivES AND ACTIVITIES
Objectii'es #nd 9ims
The main objc£tives of the Lharity th¢ provision of items, services and facilities for Ludlow Colleg¢ i)r any Higher or
Funhcr Education College condu¢ied in Ludlow on the property of the charity. and Ihc education of its studcnls.
SlgnificAnt *¢t1￿tIes
Th¢ charity pursues its objetlivcs by providing fa¢ililies for Ludlow College.
Public btn¢fit
The tnJst¢es have complied wilh iheir duty to ￿ve due regard io public bencfÈt guidatKe published by the c.harity
CotnDii.%sii)n. The IrustC¢5 ¢1)nsÉdeT ihai thc charity Inects Lhe public benefil requirements of ihc Chariiics Act 2011 by
¢arryin8 Out ils nonnal aciivities.
ACHIEVEMENT AND PERFORMANCE
Ch#rit#hle aetivltSes
The Foundjiion Scholarship scheme ceased during ihe periud with the fjnal existing eommitmenis having teen honoured
and the awarding of new s¢holaTships $uspend¢d.
A grant of £36.42612023.. £12.060} was made io the eoll¢ge itswards the refurbishment of the refeciory.
As at 3 Isl March 2024 no amounts were L)UtslandiN¥ in re5pe¢i of rentsl rcccivable for the main buildings. The rentsl, of
£36,300 ihis ycar, Is paid back to the colleg¢ without passing through ihe bank a¢couni. Thc collegc confiTms ihat this
moncy has becn 5peni on students, education.
FtNANCIAL REVIEW
Fi￿1n¢1*1 po$itlo
The trnsiees eonsider the perftsmiance of th¢ chariry during ihe year under revi¢w has been satisfa¢tory.
As graniing of new scholarship5 has bcen suspended, Ihcre aTe no ne￿, liabilitses in this area. As well as ihe grant
meniioned above. bursarics to siudenls of a ioial of £803 12023.. £1.095) wcrc made.
The total markcl valuc of the financial inveslments at .1 l $1 MaTLh 2024 ￿aS £1.251,034 12023.. £1,2O6,045}. cu￿Al
assets wcre £120.040 12023.. £78,551). Thesc show an Èmprovcment since lasl ycar and should ct)able thc ch8riry to
¢onlinue to me¢1 its objecliV¢S for the foreseeable future.
Reserve5 poIi¢y
Reserv¢s are cuFr¢nily standing at a salisfacrory l¢vcl aDJ dre g¢D¢ralin8 3 ¢onsistenl level of income io fund donaiions,
activities foi ¢haritable objcctiveb and to Tn¢ei the gyeneral adminisiration costs ofihc chaTity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is Controlled by ils ￿0verning do¢ument, a deed of Injst and constitutes an unincoJporal¢d charity.
The charity is controlled by lis 8overnitJg document5. a Sclieme da1￿ 19ffj7Q002 as amendcd by a Scheme da*d
1910312004 #nd as ameDded by J Scheme daia 0511212013.
Reerultment and appointment of new trustees
The appointment of ITusl¢es i.s govemed by the Scheme governing the Found81ion.
Risk managemeni
Thc Inlstces havc a duty io identify and review thc risks to which the charity is exwscd and lo th)sure appropriate
¢ontrols are in place ro PTovide reasonable assurance agatnst fraud and error.
Pa8e I

FOUNDATIO￿ OTr LUDLOW COLLEG.E
RLPOR T OF THE TRIJ.STEF,f
I MARCH 2Q24
FOR THF. YF.AR F.NDF.D L_
RF.FERENCE AND ADMIP41STRATIVE DETAILS
Regislered Charity number
5284Ql
Principal gddress
Casile Square
Ludlow
Shropshire
SYB IGD
Trusfees
R F. McTL.dith
A Powis
J Forsyth (resigned 21.6.23}
A Salwey
Dr E Carson
V Ainsworth
J F.vans
A Minton-Beddoes
M Hogart
J Caird (Tesigned 21.6.23)
DrDButt
Ei M Swire
C MozTiS (resigned 29.9.23)
W Shuttleworth
A J Layng (appointed l.6.231
Indeptndent Examiner
MA Skcllum FCA
Ballards LLP
I Ic K2ng4wood Road
H%mpion Lovett
Dr()1lwich
WorLe51¢rshir¢
WR9 OQH
Ini'estmeni Brok¢rs
CLA, S¢nator House.
85 Queen Victoria Sireei.
Lond()n EC4V 4ET
M&G Charities, PO Box 903¥
C.heln15ford CM99 2XF
Approved by ordcr of the board ofirus1¢¢s ....
and signed on 115 b¢haifby'.
A Salw'c),. Tru5t¢e
Page 2

INDEPENDF.NT fr.￿4￿lIN,ER,s RF.PORTT() THb TRUSTEES OF
Fl)LSTr*DATIVN ()F I.IIDI.()W C.UI,LEC."E
Independerst Ekanjhner's rtporl to tht fry51t¢s of Troulldailon of I,udlow College
I i¢pon lo the charily Irusi¢es on my ¢xamsnatlOD of ihc accounls of Foundation ot. Ludlow LollegTe Ithe ITUStI foi Ihc
ycar ended 31 March 2024.
RespDn$lbkliil¢s and basis of report
As the Charity tsUSlL¢S of Ihc TTUSt yoii arc resptknsible foi th¢ prcpaTalion i)f the aLcounls in aLcordanLe with the
Tequiiem¢nts o(Ihc Charili¢s Aci 2011 I'th¢ Acl'l
I rcport in rc%pett of my examination of Il)e Trusi's uccounis carried oui under Scciioii 145 of the Acl an4 En Ca￿Ing out
n)y examinatii>n I I￿ve followcd 211 applicable Direcli<)ns given by ilie ('harily Conimissiiin undcr Sec120n 14515Kbl uf
Ibe Aci.
Independcnl txArnlDer'$ $taltmen¢
I have complcied my examinalion. l confim Iliai no material matter.1 liav¢ co#it lo niy 8iienliun IT) connection willi ihe
ciaminaii(hll giving me causc lo believc ihal in any n)alcrial respeei..
a¢counting r¢coTds were tjoi kepl in resp¢cl of the TTr￿% a5 reqLIIT¢é by Scclion 5 30 of the Acf. or
lh¢ 2ccoun15 do not accord with Ihost records. or
Ihc a¢counis do nol comply w'ilh Ihe appli¢a¥ile requirement4 conceming Ihe fomi and conieni of aceounis Sei oui
in the Chariiies {Accovnls and Rel￿s} Regulations 2008 oihcr tlian any requjrcment ihai the a¢¢ounL% 8ive
true and fair wew which is nol a mailer considered a8 part of an independ¢nt examination.
I have no concems and hal'c comc a¢ros5 nu oiher mallers in L(>nne¢iion willi the eKamÈnation lo which anention should
b¢ dramm in this reporf iB order to enable a proper iindersianding of Ihe aC¢OUDls io be teached.
MA Sk¢lluin FLA
Ballard5 LLP
I Ir ￿"n8$wood Road
Droitwich
wort￿lershIrt
WR4 OQII
thte". .....
6 June 2024

fr()liNJ)A TIIIN C)Tr I.IIDI.C)WI CI)I.l.F.C.F
STA TEMEN7' OF FIN'ANC.'!AI_. ACTII'II'IES
-FOB THF. YEAR F.NDE_D 31 MARC!12024
.11.3.24
1.otal
fuDds
31.3.23
LlnrestriLl¢it
funds
R¢%irsLtcd
fund
INco￿lF. AID F,NDOII'.hlFKfS FRONI
l)onalions and legacie
5.049
Inve.4lTiienl inci)mc
79,1189
6.315
S.404
83,879
79.139
88.928
EXPENDITURE ON
Charltable a¢tivilie$
Gran15
Support costs
77.160
2,117
5,940
83,100
2.117
49.983
1,888
Toi
79277
5.940
8$217
N¢1 gain51lloss¢sl on inv¢stmcnis
63,477
22,637
86,114
160,6131
h'ET INCOMEIIEXPENDITURE)
Transfer$ behYe¢n funds
63,339
{7,500)
23.012
7,500
86,351
123.5561
Nei movemenl ift funds
30,512
123,5501
RECONCILIATION OF FllTriDS
TOL71 fi]nd.4 broii¥hi r()nvard
946,222
4.830,08U
8,776.3112
5.799.858
TOTAL FIINDS CARRIED FORW'ARD
1,002,061
4,560,$92
5,862.653
5.776,302
l-hc iioies fonn pan ot-lhesc f177anciul 51atcmi111S
Pabic 4

FOUND&TIOF4 OF LUDLOW COLI.EGE
BALA_NCE SHEET
31 I¥IARCH_2024
313.24
Total
fund$
31.3.23
T()tal
funds
Unre51tiried
fi]nds
Rcstricted
nd
Noies
FIXED ASSETS
Tangible assets
Inwestmenis
4,494.275
359,609
4,494275
1,251,034
4.494.273
1,206,045
891A15
4,853,884
5,745J09
5.700,320
CURRENT ASSETS
Cash at bank
111640
7,4110
120.040
78.551
CREDITORS
Amounis falling due wirhin one year
{2,0041
1692)
(2.696)
{2.569)
NET CVRRENT ASSETS
110,636
6,708
117J44
75.982
TOTAI. ASSETS LE&$ CURRENr
LIABILITIES
1,002,061
4,860,592
5,862,653
5,776.302
NET ASSETS
1,002,061
4,860,$92
5,862,653
5,776.302
FUNDS
Unrestricted funds
R¢stricied funds
,002,061
4,860,591
946,222
4,830,080
TOTAL FUNDS
5,862.653
5.776,302
The fit)ancial
slatem¢nlS
weTe approved by ihe Board of Twstecs and authoris¢d for issue
and were Signed on ils behalf by..
on
A Salwey- Tnjstce
The notes forn) part of Ihese financial stat¢mcnts
Page 5

FOUNDATIO￿ OF LUDLOW COI.I.EGF.
NOTES TO THE FINAYC.IAI. STAT_F.MENrs_
I MARCH 2024
FOR THE YEAR F.NDF_.P_L_
ACCOUNTING POLICIES
BASIS of preparing the finanel*l statemtnts
The financial siatemenlb of the chJTiry, which is a publsc tr*nefit eniiry under FRS 102, have been prepared in
accordance with the Charities SORP IFRS 1021 'Accouniin& and Reporting by Charities.. Statement of
Recommended Practic¢ applicable 10 chaTiiies prcparing their account5 in accordance I￿.1(h the Financial
Reportin¥ Standard applicablc in the IJK and RepubliL of Ircland IFRS 1021 Icff¢cliv¢ l jaTjU(￿ 20191.,
Financial Reporting Standard 102 'The Financial Reporting Siandard applicabl¢ in thc UK and Republic of
Ir¢land' and th¢ Charitie5 Act 2011. The financial statemcnls have been prcparcd under th¢ historical Gosi
convention, with the exception of investments which are included at morket value, as modified by the revaluatio
of ¢ertaÈn assets.
Thc financial 5taiements have been pr¢pJrcd lo give a 'lruc and fail" view and hai'e departed from the Charities
(Accounts and Rcpi)rtsl Regulations 2008 only lo lh¢ extent required io provide a "In]e and fair" vicw. This
departure has involved following Accounting alld Reporting by Charilies prepanng their aciounts in a¢¢ordance
Wjih the Financial R¢portin8 Siandard applicabl¢ sn ihe UK and Republic of Ircland {FRS 1021 issued on 6ih
July 2014 raiher than the Accounting and Reporting by Chariltes.. Stsiemenl of Recommended Practice effe¢iive
from l April 2005 which hAs since been withdra5￿.
Income
All income is recogmiscd in the Sialemenl of Financial Activiiies once the charity has entitlem¢nt to the fvnds. it
i% ptobable thai Ihe income will be Te¢eived and the amouni can be measured T¢liably.
E%pendltsrt
Liabiliiies are recognised as cxpcndiwie as soon as there is a legal or conslruLliWC obligation commining th¢
Ch￿lty to th&1 expendiiure. il is probable thai a transfer of economic b¢nefilS will be requiT¢d in settl¢n]eni and
Ihe amount of the obligatiotj can be measured reliably. Expenditure is accounied for on an accruals basis and has
been classificd under hcading% that a¥gregate all eosl related to the caic80ry. Where ¢osis cannot be directly
aiiribuled io particular headings the) hilvc been allocated 10 aciivitie5 1)n a ba9is consistent wilh th¢ use of
T¢*tsurccs.
Tangible fiK¢d Assets
Deprecialion 5$ provid¢d ai the folltswin8 allnual rates in order 10 write off ¢a¢h asset over lis tgiimaied useful
Freehvld propetty
noi provided
Taxgtion
The chariiy is exempi froin lax on ils Lhariidble activill¢S.
Fund #¢¢fjunt5ng
Unresliicied funds ran be used in a¢cordance with the charitable objecilV¢5 ai the di.4¢Teiion of the hwrees.
ReslritlL'd funds can only be uscd f()T particular tcslricled purposcs within Ihc objects ofihe eharily. ResiriLliuns
ari%e %4'hcn spccificd by thc d()nur or w,h¢n funds 4r¢ raised for particular r¢81ricled puryoses.
Further explanalion of the nawre and pujpose ol'ea¢h fund i* included in the notes io rhe fjnancial slat¢ments.
Page 6
¢onlinued...

FO_u.NDATlO￿ OF LVDLOW COLL_EGE
NOTES TQTHE FINANCIAL STATEMENTS- continued
FOP_ TELF. YEAR F.NDED 31 MARCH 2024
INVESTMENT INCOME
31.3.24
31.3.23
R¢nis received
Investsnent dividends
Deposit a¢¢ount inieresi
Equili¢s invesimeni fund
42JllO
29,111
2.161
IIW2
42.300
30,070
20
11,489
85,404
83,879
TRUSTEES, REMUNERATION AND BENEFITS
There wcrc no ttustees, remuneration w other bcnefils lor the year ended 31 March 2024 nor for Ihc year ended
31 March 2023.
Try$tees' expen5t$
TheTe were no trust¢es' expens¢s paid for the ytai ended 31 March 2024 nor for Ihe year ended 31 March 2023.
COMPARATIVES FOR THE STATEMENT OF FINA￿'cIAL ACTIVITIES
Unre8tri¢ted
funds
Restriried
fi]nd
Total
INCOME AND ENDOWMENTS FROM
Donations ¥nd1¢8acies
5,049
5,049
Investm¢ni incom¢
77,777
6.102
83,879
Total
82,826
6,102
88,928
EXPENDITURE ON
Ch*ritable actiTr'ltlt$
Grat)Is
Suppon cosls
44,383
1.888
5.600
49,983
1,888
Total
46,271
5,600
51,871
Nel ¥ainsll105sesl on investments
{42,2221
118,391}
160,6131
NET INCOMEI(EXPENDITUREI
Transfers between funds
15,667)
17,5001
117,889)
7,500
(23.556)
Net movemeni ID funds
{13,1671
110,3149)
{23,5561
RECONCILIATION OF Fuf+4DS
Tolal fuDds brought forward
959,389
4.840.469
5,799,858
TOTAL FUNDS CARRIED FORWARD
946.222
4,830.080
5,776,302
Page 7
¢ontinued.,.

FOUNDA TION OF LUDLOW COL.LEGE
NOTES TO THE FI￿,ANCIAL S_TATE￿fENTS- continu¢d
FOR THE YEAR ENDED 31 MARCH 2024
TANGIBLE FIXED ASSETS
FT¢thold
propeny
COST
Al l April 2023 and 31 Mar¢h 2024
4.494275
NET BOOK VALUE
Ai 31 March 2024
4A94275
At 31 March 2023
4,494.275
The Freehold Lat)d and Building8 are legally owned by ihe Foundation, although they are used exclusively by
Hereford and Ludlow c.ollege. Maikd valuc is noi available as ihe Iruilees consideT th¢ CO￿ of canying oul a
profcssional valualioji to b¢ excessive conipdred io Ihe IitDiied additional benefit dcril-ed by the users of ihe
a¢¢ounis.
FJXED ASSET INVESTMENTS
Lisicd
investmeDI$
MARKET VALUE
Ai l April 2023
Additions
Disposal$
R¢valualions
.206,045
7,51MI
148,625}
Al 31 March 2024
1,2SJ,034
NET BOOK N'ALiIE
Al 31 Morch 2024
J,251,034
At 31 March 2023
1.206,045
Ther¢ w¢rc no iT)vestment assets outside the UK.
The fullowing inve51menls subsistcd dunng the ycaT'.
Unr¢stricl
Fund
Restricted
2024
2023
C.OIF Income Units
C.OIF Prvperty Unils
Equittes Investrneni Fund for Charities
Sto¢ks 2nd shar¢s
797,149
253.549
1.(tr50,698
952,421
49,561
204,06.1
94.276
106,060
2(KJ.336
891.425
359,609
1,251,034
1,206,045
Pa8¢ 8
continued...

FOUNDATION O.F.LUD_LOW C_OLLEGE
O THE FINANCJAL STATEMENTS- tontin
NOTES ￿.
FQR THE YF.AR ENDED 3J MARCH 2024
CASH AT BANK
31.3.24
Totsl
funds
31.3.23
Total
fi￿dS
Unrestricied
fund
Restiict¢d
nd
Lloyds currcnl aecounl
COIF deposit accounts
36,879
75,761
6,273
1,127
43,152
76,888
77,449
1,102
Toial
112.640
7,400
120,040
78,551
CREDITORS: AMOUNTS FALLING DUE WITHlkY ONE YL4R
31.3.24
31.3.23
(hh¢r creditors
Scholarships
1,889
680
2,696
2,569
MOVEMENT IN FUNDS
Net
tnovement
n funds
Transf¢TS
beNveen
fund5
At 1.4.23
31.3.24
UDrestTlded funds
Unre$iricted fimd
946322
63 J39
(7.500)
1,001061
Restrl¢ted funds
Re$irict¢d fund
4W,080
23,012
7,500
4,860,592
TOTAL FUNDS
5,776.302
86J51
5,862,653
N'et movcment in fun(Ib', includ¢d in the abvve are as follows".
Incoming
resources
Resources
expend
Gains and
losses
Movement
in funds
Unr¢strict¢d fuDd5
Unre51ri¢ted fund
79.139
(79.277)
63,477
63J39
Restridtd fund$
Restri¢ied fvnd
6JiS
{5,940)
22,637
23,012
TOTAL FUTr¥DS
85,454
{85,2171
8(114
8L151
Page 9
coniiDued...

FOUNDATIOli OF LUDLOW COLLEGE
YOTES TO THE FINANCIAI. sTATE￿IEF￿r$- contknued
FOR THE YEAR E.NDED JI MARC"H 2024
MOVEMENT IN FUNDS- continued
C•mpgrAtivt$ lor movernent fvnds
Nei
movemeni
In fwid
TTansfers
beTh¥een
fijnds
At
31.3.23
Ai 1.4.22
Unre5trirted funds
Unresiricied fijttd
959,389
15.6671
17,51N))
946,222
Restricted funds
Restricted fvnd
4,840,469
117,8891
7.500
4,830.080
TOTAL FUNDS
5,799,858
(23,5561
5,776,302
cOmparat￿ve net movemenl in funds. included in the above ar¢ as follows..
Incoming
resources
Resource8
Cxpendcd
CTzins and
losse8
Movcment
in funds
Unre$trlcted fund$
Unresiri¢ied fimd
82,826
146.2711
{42.2221
15,6671
R¢$trl¢t¢d funds
R¢strict¢d fimd
6,102
15,61)01
118,391)
{17,8891
TOTAL FUNDS
88.928
160.613)
{23,5561
A Cuntnt year 12 monihs and prioryear 12 monihs combined posiiion is as follows..
Net
m()vemeni
in funds
Transfers
bclweLn
fund5
Al
31.3.24
At 1.4.22
Unrestricted fund5
Unresiricied fvnd
959,389
57,672
115,(KK))
i.(X)2.061
Restrieted fllnds
R¢siri¢ied fund
4,840,469
5.123
15.000
4,860.592
TOTAL FUNDS
5,799,858
62,7Y5
5,1162,653
Page 10
continued...

FOIJNDATION OF. LUDLOW CO
LEGE
OTES TO THE FINA￿cIAL STA_T_EMENTS- contirtyed
FOR THF. YF.AR FJ4DED 31 MARCH 2024
MOVEMENT IN FUNDS- eODtinued
A ¢YJTenl ￿ar 12 months and prior year 12 rnanihs combined net movemeni in funds, included in the above are
as follows..
I￿oMIng
resources
Resources
¢xpendcd
Gain5 and
losses
Movement
in fimds
Unrt5tricted funds
Unreslncted fund
161,965
1125,548)
21,255
57,672
Restricted funds
R¢8lricied fvDd
12,417
111.5401
4,246
5.123
TOTAL FUNDS
174.382
(137,0881
25.501
62,795
Unrcstricted funds can be used in a¢cordan¢¢ with the ¢haritsbl¢ objccts at the discretion of the ttustees.
The following ￿sIn¢l¢d funds w¢ held by the charity..
Harley Bequest
Melsome T￿st
Nash Award
io supplemenl leacher5' $21aries
- to provide annual science and lechnology grants
- io pro￿]de an annual grnnt to a fomier Ludlow College student
studying ai Brsstol Univeiglry
Cutry Prizc
Mcredith Prize
Mills Pri7E
Studeni Prize
l the income from the5¢ funds is now used for the general
I funding of prize5
Transfers beiw¢en funds
The trall5fer of £7.50Q from Ul￿tricted fvnds to restricted funds is thc amount sct aside from the charity's
In￿rne and invested in ￿str1¢t¢d COIF investments as detailed in tJot¢ I l.
io.
C.ONTINGENT LIABILITIES
Significani ¢onthbuli0￿S have been madc by Ihc 8ov¢mment in developing many ot. the buildings and should any
of th¢se assets be sold Ihe charity may bc liable, undcr the tern]s of the f￿all¢la1 memoranduTtJ with the Council.
10 5ufTender a propomion of the proceeds.
Pagell
oniinued...

FOUNDA Tiofi OF LUDLOW_COLLEGE
NOTES TO TH£ FINAIX'CIAL STATETrIENTS- Continued
FOR THF. I'EAR F.NDED 31 MARCH_21124
CAPITAL cO￿lmITMENTs
31.3.24
31.3.23
ConlTa¢*d bui not provtded for in the financial statem¢n15
The Millichope Arts Centre w&% financed ustng £357.000 from the pemianeni endowmenl of the charity. being
thc proceeds of prop¢try sold Èn 2(K>5 and 2006. This was authorised by the Charity C.ommis5ion in an order
daied IS Jun¢ 2006. Under ¢he ￿M]S of the order th¢ ¢hdriiy must r¢place thi5 sum by sctling aside each year for
50 years a 1150th part of ihe gum from the Lharity's income, which musi he invcsted #s pernianeni endowment or
thc chaTity,
RELATED PARTY DISCLOSURES
There ￿ere no related party tran5aclions for ihe yearended 31 March 2024.
Page 12

FOUNDATION_OF L_UDLOW COLLEGS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR F.NDED 31 MARCH 2024
31.3.24
31.3.23
INCOME AND ENDOW.￿gENTs
Donations and legacies
Dcinalii)n*
5.049
Inv¢$tm¢nt In¢om¢
Rents received
Investment dividends
Deposil a¢¢owii Inieresi
Equiiies investment fund
42 JOO
29,111
2,161
11.832
42,300
3Q.070
20
11,489
85,404
83.879
Total iDcomlng resourte$
85,454
88,928
EXPENDITURE
Ch#r5table aetlvltles
Foundaiion scholarships
Foundation bursaTi&prizcs
Pa)Thenis to staff of Ludlow College
Grnnls io ¢olleg¢
Student refeciory
(201
4,454
5,940
36JOO
36,426
16,6801
2,795
5.6(X>
36,300
12,060
83,JOO
50,075
Support Costs
Management
PrOfC￿51onaI chargcs
2,117
1,796
Total resource5 expended
85,217
51,871
Iyet ineome
237
37.057
This pag¢ dueb nol ftsmi part vf the slatutury fJnaT)cial statemenls
Page 13