AMS FOUNDATION WE
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGusf 2024
tered Chari
Nutnber". 528403

ADA
S FOUNDATION WEM TRiI
TRUST INF
RMATION
ATqNUAL REPORT 2024
CHARTfY NUMBER
528403
CHAIRMAN
Jane Mather (appointed on 18th March 2024)
Mr Robert Lumley (resigned on 26th February 2024)
VICE CHAIRMAN
Mr Andrew Cross
OTSIER TRUSTEES
r Gareih J¢nkins
MTS Paulirte Dee
Mr Mark Cooper
Mr Robert Hatts
ADDRESS OF C
The Thomas Adams School
Lom'¢ Hill Road
Wem
Shrewsbury
SY4 SUB
INDKPKNDENf E
Jonathan Rimrner
James, Holyoxk & ParkerLtd
l KJ]ights Court
Ar¢hers Way
Battlefield Enterprise Park
Shrewsbury
Shropshir¢
SYI 3GA

ATtON WEM TRUST
FINAN
TEMEFrrs
FOR THE YEAR
NDED31 AUGU
T 2024
NT
Page
Trust Inforn)atioTh
Tntstees Report
Independent Examiners Repo
Statement of FinartOi81 Aetivi
es
B410n¢e Sheel
Note$
8-14

AMSF
UNDA
ION WEM TRusr
srE
POR
FOR THE Y
EN
AU
ST 2024
The Tru5t¢e5 pr¢s¢nt th¢ir annual report together with
31 August 2024.
he financiai statements of the charity forthe year ended
OBJEcfivES Af4D ACTIVITIES
a. POLICKES AND OBJECTIVES
The prin¢ipd activitses of the TTh￿t are the prnvÈgion
promotion of education by awarding prizes to the pupi
education of persons who are in need of fman¢ial &8Si
faeilities for the Thonjas A<lams Sdkool tosed￿r with the
s. Any balance of income may b¢ applied in promoting the
c¢.
The charity will continue these activities and has no pl
the time-being. The trustees have given due considerat
benefit.
s for expansion or alteration tt> its current activities for
on to the Charity Commissions revised guidanee on public
ACHIEVEMENT3 AND PERFORMANCE
g. REVIEW OF ACTivrriES
The Trust¢es have Teceived assufdnce from the Sbhool
there is a Continued progrdmme of repairs and Tnainten
at the boardittg facility remains a goittg concern and that
ce.
The EckeJ%ley FL￿d grants have been awarded for the
availiable currently stands at £55,283 {2023 - £49
scholarship programtne into the ￿tyre.
urr¢ttt year. as recommended by the Sehool. The
435) which, with its investment income, should secure the
b. INVESTMENT POLICY AND PERDORMAN
The Trustees, policy for illvesttllents continues to be on
gen¢Talion, to help raise ￿ttdS lor awarding bursaries
genera]ly during the year has led to a small de¢reEse in
additional invesl2n¢ni has been entered into during the
of low risk, with an emphasis being placed on income
d scholarship5. This year however, a fall in market PTices
e portfolio value to £104,231 (2023- £96,469). No
ear {2023 - £501).
FINANCIAL REVIEW
. COING CONCERN
After Jnakin8 appropriate enquirie5. the tru5tee5 have
resources to continue in operationa] existence for thc fo
the going concem basss ill prep￿ing the financial stst
onable ¢xpectation that the charity has 8dequate
seeable future. For this reastslk they continue to adopt
ents.
b. RESERVES POLICY
The level of free reserv¢5 Cumtly stands at & surplus
more than enougji to cover th¢ annual cash cxpendÉtur
£23,39912023 - £22,887). The Tnjstees considerthis
of the charity.

S FOUN
TION WEM TRUST
TRUSTEES. REPORT
FOR T
EYEARE
ED 31 AUCU
T 2024
STRUCTURE, COVERNATrICE AND MA
GEMEf+rr
a. CONSTIfuTION
The Ch3rity is ¢ortstituted under & Charity Co
?002 and 27 Febnory 2007. The Charity is reg
J5siott Scheme dated 7 October 1998 as amended on 4 March
ttrrd undEr nutnber 528403.
Ther¢ have been changes in the obje¢tivies
ince tbe last annu￿ reporL
b. Vi ETHOD OF APPOINTMENT OR EL
crioN OF TRUSTEES
There should be on¢ ex officio tru5te¢, viho wil
should be tt¥o nominatcd tru5tcc4 one appoint
by the Old Wemians As50Giation. Thert shoul
ho are voted in by the trustees at a Speci￿ me
b¢ the Headmaster of Thomas Adams School, W¢nL Th¢r¢
by Draper5' Company of th¢ City of London, and one appointed
be not l¢ss than two and not more thsn five co-opted trustees,
in8. Each appointment is for a period of four years.
c. POLICIES ADowfED FOR THE INDU
TION AND TRAINIIYG OF TRUSTEES
New ttustrcs arr w¢lroEned with a pack eontsi
from the Charity Commission and a letter from
ing t copy of the Schem¢ and its amendTnents. a Welconie leaflet
e Secretary of th¢ Trust detsilin8 th¢ ¢urrent board of Tn]stees.
d. ORGATr41SATIONAL STRucfuRE AN
DECISION IVIAKING
The organisatiot] stntcture and decision makin
pncess is as laid down in the Schem¢ of the Charity.
RISK MANAGEMENr
The Tnjstses have Lgsessed the major risks to
operations and fillances ofthe Chatity. and are
major Tisks.
hich the Ch2rity is exposed, in particular thost r¢lat¢d to the
atisfied that systetn5 are in place to mitigate our exposure to the

ADAMS F
UNDATI
WEM TR
po
RTHEY
EN
ED3
uGu￿r 2024
TRusfEES' RESPONSIBiufiES sfATEME
The Trustees are responsible for prewdring the Truste
applicable law 8nd United Kingdom A¢￿UtJt1ng Stsn
Practitel.
The law applicable tts Gbarities in England & Wajes
financid year which give a true alld fair view ofthe st
xnd appltcation of resourc¢s of the cfftkrity for that pe
are required to..
5, report and the fillanci41 stst¢ments in accordance with
ards (United Kingdom Generally Accepted Aecounting
uires the Trt]stees to prepare fir*ancial 5tat¢ment$ for ¢aGh
te of affairs of the charity and of the incoming resources
d. In preparin8 these financial statementy the Trnstees
select suitable accounting policies and then appl
obsejve the methods and principle5 laid out in th
]n&k¢ judgements and accouJitin¥ estimAtes that a
prepare the finaneial statements on the going con
Charity will cootinue In operaiion.
them con5iStendy-
Charities SORP.
reasonable and pwdent.
ern b￿lS unless it is inappropriate to presume that the
The Trustees are responsible for keeping proper accou
¢haritys transaction5 and disclose wtth reasonable ac¢
enable them to ensure that the financial Statements co
and Repottsl R¢gulations 2008 and the prowisions of t
the assets of the charity and hence for taking r¢asonabl
irregularities.
t(ng records that are sUffi¢le￿tQ show at)d explain the
racy at any tiD)e the finallcial posÉtion of the charity and
y with the Charities Act 2011, the Charity (Accounts
trust d¢¢d. They are also responsible for s8fcguarding
steps for the prevention and detection of fraud and other
This repDrt was approved by the Trustees on L7th Mar
2025 and signed on their behalf by-
Mr5 Jan¢ Mather, Chair
MrAudrew Cro$& Vice Chair

S FOUNDATION WEM TRUST
FO
E YEAR ENDED 31 AUGUST 2024
I report on die accounts of Adam5 Foundation
on p2ge5 6 to 14.
em Trust for th¢ year ended 31 August 2024 which ar¢ set oui
Ye Re5
On5ibiliti￿ of Tru5tee5 and
xaminer
The Charity's tr￿e5 are responsible for th¢ p
not required for this year under section 144(2)
examination is needed.
pardtion of the accounts.Th¢ Trllstees consider that an audit is
f the Charities Act 2011 {the Act) and that an independent
It is my respoTksibility to..
examine the acwut)ts (under se¢tin 145 0
follow the procedures laid down in the
s¢ction 14515}(b) of the A¢t)' and
' stste whetherparticular matters have GD
theA¢t);
eneral Direction5 given by the Charity Commission (￿der
lo my attention.
of Inde
ndent Examiner's Stateme
My examination was caTri¢d out in aGcDrdanG¢
An examsnation includes a review of the accou
accowits presented with those records. It also i
accounts, and 5¢eking explanation5 from you
ndertak¢n do not PTovide all the eviilenc¢ that
an opt￿lOn as to whether ttle fin30¢ial STalemetJ
D]atters Set out in the 5tat¢ment b¢low.
'th the General Directions given by th¢ Charity Commissioners.
ting re¢otds kept by the Cb2rity 2nd a comparison of the
¢lude5 consideration of any unusual iterns or disclosures in the
trustees concerning any such matters. The procedures
uld be required in an audit, and cons4uently I do not &yJress
pr¢sent a true and fair view" aTLd this report is limited to those
dent Examiner'$ Stateme
In the course of my ex2minatio￿ no matter has
come to my attention..
which gives me reasonable Cause to belie
requirements to ensure that..
e that, in any material respecl the fTUSt has not met the
• the at¢tswit$ dia not accord with the acco
ting records,. or
the accounts d￿d not comply wilh the appl
set out in the Charities (Accounts and Re
a￿Ounts give a'twe and fail view which
cable requirements concerning th¢ forni and content of accounts
rts) Regulations 2008 other than any requirement that the
s not a matter considered as part of an independent examination.
to vknich, in my opinion, attention should
accoutrt5 to be reached.
draw] in orderto enablr a prop¢r und¢rstandin8 of the
Jon8Ehon Rimmer
Jame5 Holyo8k & P8rk¢r Limited
l Knights Court
Archers WÈY,
Battleficld Enterprise Park
Shrewsbury. SYI 3GA
Dale
21stMar¢h 2025

SFO
DATI
14 WEM TRUST
EM£f4T
F FINAN
LAcr
IES
R THEYE
ENDED 31 AUG
2024
Pertn4neDt
'cted Rutritttd EDdvThment
d$
FU￿d$
Fund
Uttre
2024
Totil
Total
Note
Into￿e and Endowments
Incoming Resourees from generattd funds
ChaTitable activities
Investment inGoin¢
500
214
20.500
4.850
10.000
4,673
2,636
Tot%1 Income
714
2,636
25,350
14.673
ExpeDdRture
Charitable activitie5
22
856
11,676
34,532
23.952
Total Expendlthre
22
856
11,676
34,532
23.952
Net Éncoming restsurc&s1(resourees
expended)before investment gaiR5
142)
2,636
(11ffj7K)
(9,182) (9J79}
Net gainsl(losse5) on investments
14
87
2,878
3,898
7.763
(1,901
Net incomel (expenditure) before transfe
5514
(7,778)
(1,419) (11,180)
Increase in tiivestments
14
501
Transfer between fvnds
17
00
(8QOI
Net intomel {expenditure) before
Other recognised and loss&s
46
4,714
(7,778)
11,419) (10,679)
Net m0ven￿llt fund5
46
4.714
(7,778)
(1,419) (10,679)
Total funds brought forward
23.
49J20
357,578
429,899
440￿79
Total hDds carried foTward
24.
46
54.033
349,800
428,479
429,899
All activiiies relate to ¢ontinuin8 operations.
The I￿1c5 on p8ges 8 to 14 fornl part of th¢s¢ flneneial s
tements.

AD
S FOUND
Tl
NWEMTR
BALA
CE SHE
T 31 AUGusf 2024
2024
2023
Fixed Assets
Tangible assets
Investments
13
14
307.145
104231
411J76
318,820
96.469
415289
Current Assets
Debtor5
Cash at BaDk 4Dd in hand
15
206
20.247
206
17,555
20,453
17,761
Current LiybilitÉes
Creditors: amounts falling due
within one year
16
3.350
3,152
3,350
3,152
Net curTeDt assets
17,103
14,609
Total a$5ets less current assetslOi&bilities)
428,479
429,899
CreditOTS.' amounts falling du¢
after ot)e year
Net ￿rrent Assets
428.479
429,899
Capital aDd Re5erv&s
Pernianetit Endowment Funds
R¢5tricted Funds
Unre5trirted Funds
349.800
54,033
24,646
357,578
49.320
23,001
42¥.479
429.899
n2nciai ststem¢nts on pages 6 to 14
appToved bythe truste
on 17th Mar¢b 2025 and Signed on sts behalf by:
Mrs lane Mather. Chair
Mr Andrew Cross. Vice Chair
The notes on pages S ￿ 14 forni part of these
Inancial 5tatrmcnts.

DATIOIY WEM TR
NOTES ON
ANCIAL
ATEMENTS
YEAR E
DED 31 AUCUST 2024
l. Atcounting Polleies
Basis of actountiRg
The financial st&tem¢nts have beell prepared in ac
Statem¢nt of Re¢omm¢nded Practice appli¢abl¢
Financial Reporting Standard applicable irt the
2015)- (Charities SORP (FRS 102)), the Finallcia
of [relat￿ (FRS 102) end the Charitie5 Ad 2011
ordanc¢ with Accounting and Reporting by Charities..
charitses preparing their accounts in accordance with the
atjd RepublÈc of Ireland (FRS 102) Icffective l January
Reporting thndard applIcable in the UK and Republi¢
d appli¢abl¢ regulation5.
The Adams Foundation Wem Trust meets the defi
and liabilitie5 2re initially recognised at hi$iorica]
relevant accounting policy noie{s).
'tion of a publi¢ benefit entity under FRS 102. Assets
st or trd￿adIoll vatue unless otherwise stated in the
lllcomirjg resources
Ineom¢ is r￿08￿*S¢d when the charity ha5 ¢ntitl¢
be received and the amount of the income can be
t to the in¢ome aljd it 15 probable that the in¢om¢ will
easured reliably.
IAvffslmeJtt Income
Dividends and inter¢5t are included in the income
d expenditure account when they are Te¢eiY¢d.
Resource$ expended and basis of #llocation of e
Expenditure is includd when incutr¢d. The tmajo
Certatn shared costs are apportioned to activities in
of costs are directly attFibulable to Specific arttvities.
rther8nce of the objects of the charity.
Fixed asscts
The Trust's freehold properties are included at cost
for dep￿lation are based on an estimated usefvl li
forms part of the Pernmnent Endowment Funds (N
ess provisiolls for depreciation. Provisions
of 50 years. Th¢ value of the freehold properties
e 17).
Other fixed &%sets have be¢n ¢apitslis¢d and d¢pre¢
at¢d over the following period..
Freehold property
2Yo sti¥iglLt line
Inve5tmellts xnd iDVUtmeDt gaill5 and Ios5eS
Investments comprise UK equities, other U.K. fjxe
tntsts. They sr¢ All quoted on recognised stock
loss¢s on disposal and revaluation to market Value a
Activiti¢s.
interest stocks, and inCOTne and fixed interest Ullit
anges. No unquoted inve5trnents are held. Profits and
the yegr end are dis¢los¢d th¢ Statement of Fin￿claI
The value of ihc investnients forn)s part of the Penll
ent Endowm¢nt Funds (Note 17}.

ADA
ou
TION
M TRusr
FINAP4CIAL STATKME
FOR
YE
NDED 3
AUGusf 2024
CONTINUED
Fund #ceounting
Funds held by thc clwity are either.
Unrcstricted g¢n¢ral fimd8- these ar¢
discretion of the t￿st¢t$.
that can be uged in a¢eord2nce Mith the charitable objeGts at the
• Restricted fvnds- these &e fullds that c
the ¢lwity. Restriotiolls apply wh¢n sp
restricted purpK>ses.
ottly be used for parti¢ylar restri¢ted purposes withill the object of
ified by the donor or when funds are raised for parti¢ular
Endowmetrt funds- th¢se are made up of
o el¢ments'.
(l} The trU5t's freehold p
charitable activities.
rties ivhich are used for the pvrpose of the Tru5Vs
(2) Investments which are
income is derived to s
eld for the long ierm and provide a r¢source from which
pport the Tru5Ys gencral charitabl¢ activities.
Debtors
Trade and other dcbtors are recx>gnistd
Pr¢paym¢nts are valued atthe amouttf P
the seitl¢nJent amount duc aftcr any trade discount offered.
paid net of anv trade discounts due.
Cash at bank and in
Cash at bank and c&sh in hand includes
of three months or less from the date of
h short iemi hitshly liquid inve5tmcnts Mpith & short Matt￿Lty
¢quisitioii or openino of the deposit or similar a￿oUnt
Credltors and provRsions
Creditor5 alld provisions are re¢ognised
ev¢nt that will probably result in thE
oblsgation can be measured or Cstimated
settIem¢Dt a￿Oll￿t alier &llowirt8 lor an
beTe the ¢haritv has a present obligation resulting from a past
fer of fundg to a third party and the amount duc to settle the
reli&bly. Creditors and provssion5 Ate J)ornially recognised at th¢ir
tr&de discounts due.
Going coneern
The financial statements have been p
material un¢¢rtainti¢s extst. The truste
income 2nd expenditure for 12 months
and ¢xpendiwr¢ is sufficient wsth the
¢on¢em
artd on a goin8 conc¢m basis as the trustees beli¢ve that DO
have considered the level of fvllds held and the expe¢ted level of
fro]n allthorising these financial $tatetnellts. Th¢ budgettd income
evel of reserves for the charity to be abl¢ to continue a5 a going
2. DonatioDS in kind
In additionto the amounts in¢luded in i
volunteer help during th¢ year. The T
withour this 8ra¢¢fidly rec¢iv¢d help.
accounts, the Trust bcnefit¢d from a not inconsiderable aTnount of
st Could not continue to provide its Current lev¢1 of operations

AMSF
UNDATIOh' WEM TRU
NOTES TO
INANCIAL
ATE
NTS
YEAR ENDE
I AUGusf 2024
ED
3. lllcome from Charitable aetivitiej
P¢rmaDtot
ricted Re5triettd EndowttLent
2024
2023
Ch4rity inetsming resourees-
Grant rweived
Donattons received
Mottgage cost Itabilsty and
admin charge
0,000
500
20,000
500
10,000
0,500
20JOO
10.000
4. luvcstm¢nt IDcothe
Perm%nent
trrcted Rutritted Endowjnellt
2024
2023
Rental inrome
InvE5tm¢nt inwme
Bank interest
1,857
357
1,857
2.807
186
1.849
2.771
53
2,450
186
,214
2.636
4.850
4,673
S. An4lysis of r¢soDrces expended by expendltttr
type
Depretiotion
costs
2024
2023
Dire￿ and support costs
Governance {notc 8)
11,676
21,488
1,368
33,164
1.368
22.902
1,050
11,676
22.856
34.532
23,952
6. AD&ly5is of expendi¢ure on ch*rit&ble activities
Unre$
cted Ilestritt¢l Endowment
unds
Fullds
Fwid$
2024
Tot41
2023
Tot*1
Direct and support ¢05ts
.488
11.676
33,164
22,902
488
11.676
33,164
22,902
7. Aknxlysis of resource5 expended by activlties
Acti
ulldc
ties Grant fuudingl
alitrt DonAtiolls
tly
of *ctiviti
Support
eosts
dire
2024
Totat
2023
Totsi
Direct and support Costs
13
044
800
850
14,694
23,952
13
44
800
850
14,694
23,952

UN
TION WEM TRUST
TES
FINANCIAL STATEMEpirs
YEAR
ED 31 AiFGUSTr' 2024
coiYr114UED
8. Coverngnce costs
FermarLtNt
URrestri¢ted Restricted EndoFYmEllt
Funds
Funds
Ftsllds
2024
Tot81
2023
Accountancy
L¢gal & professional fres
1.068
300
1,068
3QO
1,05D
1.368
1,368
1.050
9. Direct eosts
2024
T•t*l
2023
Total
Market study
tnsurdnce
Deprccifttion
19,632
206
11,676
176
11,676
31.514
11.852
10. Gr8nts to individuals #nd DonF4ti0
Grants t
individuals
2024
2023
Totsl
Total
Grants lo individuals
Donation To Thomas Adams
800
800
45Q
10,000
800
80Q
10.450
11. Support Costs
2024
Total
2023
Total
Se¢r¢tary's honorarium
850
600
850
600
12. Net incomiDg resourcesl(rÈsource5 ex
This is ststed after charwg..
ended)
2024
2023
Totsl
Total
DepT￿lation of taijgible fixed ossets
11,676
11,676
11,676
11,676
During the year, no Trust¢es r￿¢1Ved
During the year, no TTUStees re¢eived
Dllring the year, no Trustee5 Te¢eived
y remunerdtion {2023 - £Nil)
y benefits in kind12023 - £Nil)
y reimbursement of expen5es12023- ￿11)

NDATION WE
TR
OTES TO T
NA
CIAL sfATE
YEAR END
I AUGUST 2024
cowriNUE
13. Tangible r￿ed assets
Land &
buildings
Total
Cojt
I Septemb¢r 2023
Additions at cost
583,781
583.781
31 August 2024
583,781
583,781
Depretiatio
I September 2023
Charge for the yeo
264.960
11,676
264.960
11,676
31 August 2024
276,636
276.636
Net Book Amount
31 August 2024
307.145
3Q7.145
I September 2023
318,821
318,821
14. Fixed asset investments
COIF CharAty
Funds
MArket valuo
I September 2023
Purchases in year
GaiDJ(L05s} on r¢vaiuation at year eod
31 Au8USt 2024
96,469
7.762
104.231
15. Debtors:
AJnounts f%lllng due within one yeAr
2024
21123
Other debtors
Prepaymettts and accrued inctsrnc
206
206
206
206
16. Creditors:
Amount$ falling due within one yèar
2024
2023
Bank loans and overdrati%
Trade tT¢ditors
Accruals and defe￿ income
700
2,650
700
1650
3,350
3,35Q

12
S FOUNDATION WEM TRiJsr
ADA
N(¥fES
THE FINANCI
TATEMENTS
KD
AUGUST 2024
CONTINUED
l i. Statement of fun
BToughi Incomt lesl
FotTh'ard E%pendl(ure
Trnn$fers
iwlout
CRrried
Forwgrd
(Losses)
Unrestrictsd fund5
Unrestricted fvnds
23,001
(1421
800
987
24.646
Endowment funds
End0%￿¢nI fvnds
3i7,i78
111,6761
3.898
349,800
Restrkted funds
Eckersley fimd
49.i20
{800)
2,878
54,033
49.i20
?.6 j)
(800)
2,878
54.033
Tota] fimds
4?9,899
19.18Jl
7,763
428.479
KndoTved
The end0￿d funds include the land and
iTrvesknents held for th¢ purpose of gen
pN)perty related borrowings and major
£9,675. Thi5 i5 shown as an IntCrA￿ deb
expenditure of £1 1.676 relates to the de
buildin05 oi¥lled b!. the charity, along with cert&in endowed
ating fund5 TO SUPPOrt the restricted fi]nds of the Charity, less the
rk5 funded bi. th= unresrricttd fund in thr Past amounting to
r/(creditorl berni¢en funds in note 18. The endowed fund
reciation of the building.
Rutricted fund
Th¢ E¢kersley fund is a s¢holarshLP 5rlL
iltty. achievtm¢nt or progres5 and are
e whereb%' studeni) are chosen each year for their aGad¢mic
W￿¢d a grant.
Sun￿ary of funds
Brought Income IEs5
Forn'ard ExpÈndkture
TrAn$feYs
ithlclut
Ggin51
{￿53c$}
Carri¢d
Fonvard
General funds
Endowment fi]nd5
Restricted fi￿dS
{1421
{11.6761
2.635
800
987
3,898
2,878
24,646
349.800
54,033
J<7.478
49,)20
(800)
429,899
(9,18Jl
7.763
428,479

ATI
N WEM TRUST
STA
EMEF4T
OR THE YEAR END
D31AU
ST2024
CONTINUE
18. Analys￿ of net 45sets between funds
¢Dt Restricted Uttrestritted
unds
Fullds
Fund5
20Z4
Totxt
2023
Totst
Tangible flxed assets
Fjxed ass¢t inv￿l￿ellts
Curr¢nt 355ets
Creditors due within one year
Creditors due thr more than one yeer
Enternat debtorllcreditor) bettvten fvnds
30
145
330
307,145
318,820
13,254
104,231
96,469
5,067
20.453
17.762
(3,350) {3JSO) {3,152)
38,647
15J86
(9
675
9.675
349
800
54.033
24,1>46
428,479
429,899
19. Reigted party tr4Dsaetlons
The school w&5 charged £Nil {2023= £Nill for mort
age liability ¢osts by the Trnst during th¢ year.
14