PERKINS'S EDUCATIONAL FOUNDATION Registered Charity No. 528678 Trustees Report and Accounts For the Year ended 31sr December 2024 PERKINYS EDUCATIONAL FOUNDATION Reglstered Charity No. 528678 Contents Pa8e Charity Information Trustees, Report Independent Examiners, Report Statement of Financial Activities Balance 5heeT Arr.niJntin8 Pnlirip Notes to the Financial Activities 10-14 PERKINS'S EDUCATIONAL FOUNDATION Registered Charity No. 528678 Charity It)formation as at 311t December 2024 Trurtèes Dr stp.phpn Roberts IChAirl Katie Kawanagh IDeputy Chairl Michael Davies Frederick Hiscocks Susan Walker john Langley Susan Robinson lame5 Hibbard Tom Genders Tereza Cullum Charity Number 528678 Clerk Mrs Helen Smith Independent Emamlner 8ur815 & Bullock 8 Elm Court Strarford-upon-Avon Warwickshire CV37 6PA Bankers HSBC 13 Chapel Street Stratford-upon-Avon Warwickshire CV37 6ET Investment Managers EFG Harris Alldav 33 Great Charles Street Birmingham B3 3JN corresponden￿ Address c/0 Lodders Solicitors LLP 10 Elm Court Arden Street StTatford-upon-Avon Warwickshire CV37 6PA PERKINS'S EDUCATIONAL FOUNDATION Registered Charlty No. 528678 Trurtees, Report For the Year ended 31 December 2024 The Trustees named on page I have served throughout the year. Appointrnent of Trustees is governed by the constitLJtion of the Charity. In accordance with the Charity Commission Scheme governing the Charity, the Board of Trustees is authorised to approach named external bodies Èo nominate persons to fill vacancies arising through resignation or death of an existin8 Trustee,. and there are two co-opted Trustees whose places may be filled by nominees of the Trustees themselves when vacancies arise. ManaBement Committee The Trustees comprise the manasement committee of Perkin's Educational Foundation. The Chair and Deputy Chair are elected by the Trustees at the Annual General Meeting. They Met as a full committee on three occasions during the year. One meeting was preceded by the Annual General Meeting. ChÉirily'> ObjEitive5 The Charitvs objects and principal activities are the provision of assistance by means of scholarship bursaries, or maintenance allowances, or other financial help far studying c.niJrsp< nf hiehpr education,. and to enable beneficiaries to prepare for, orto enter, a profession trade or calling,. and the provision, or assistance towards the provisions of facilities of any kind not normally provided by the local education authority.. all for the benefit of inhabitants under 25 years of age in the parishes of Salford Prior5 and 8idford-on-Avon in the County of Warwickshire. and the parishes of Harvington and Cleeve Prior in the County of Worcestè￿hirè. The Trustees have pald due regard to the guidance issued by the Charity Commission for England and Wales in respert of public benefit in deciding the activities undertaken by the Charity. Gov•rnin8 Docum•nt The Foundation is constituted by Trust Deed dated 6th May 1964. Actlvltles durlng the year The Charity continued to distribute grants and awards for residents under the age of 25 in the parishes of Salford Prior5 and Bidford-on-A¥on iii tl)e Couiiiy vl WdrwiLksliiTE, dwid Lhe Pdfi5he5 uf Harvington and Cleeve Prior in the County of Worcestershire. Achievements and Perfomian During the year the charity generated a surplus of £7,945 12023 £7,0451 after distributing £38,44612023 £38,698) in grant5 and award5. The principal actlvlty durlng the year was to distribute grants to students. Reserves held at the year end were £1,719,20212023- £1,713,7841. The Trustees consider this sufficient to continue the activities of the Charity. PERKINS'S EDUCATIONAL FOUNOATION fteglste￿d Charlty No. 528678 Tru5tees' Report Convd For the Year ended 31 De¢ember 2024 Investmenls The Trustees have invested funds with EFG Harris Allday, in cash deposits and investment properties with the mandate to generate income of approximately £6,000 per annum whilst protecting the underlying value of the fund5 irs real term5. Risk The Trustees have considered the rnajor risks to which the Charity is exposed and have established system5 and procedures to mitigate those risks. The Tfustees consider the variability of investment returns to constitute the charitVs major risk. They have therefore ensured their investment portfolio is well diversified and designed to protett the capital value over the long term and produce a steady income return to fund grants. Recrultment. appolntment. Indurtlon and tralnlng of Trustees ReLiuiLITi¥iIL, dFJyviriLITieiiL dlltl iiiduLliuii puliiiEJ will be reviEwed by IliE TiuJLEE> ilig iiv¥tJ arises a5 per clause 8 of the Charity Commission Scheme119641. Training is undertaken a5 and when required. The power to appoint new Trustees is vested mainly in extert)al bodies.. the four parish councils in the district covered by the Charity and Warwickshire County Council. The Trustee5 may themselves co-opt two Trustees. PERKINS'S EDUCATIONAL FOUNDATION Reglstered Charlty No. 528678 Trustees, Report Convd For the Year ended 31" DeGember 2024 Statement of Trusteos, Responsibllities The Trustees are required under the constitution of the Foundation to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of it5 results for that period. In preparing those accounts the Trustees are required to... select suitable accounting ptsltcies and apply thèm consistèntly: bl make judgements and estimates that are reasonable and apply them cons1Stently: prepare the flnancial statements on a going concern basis, unless it is inappropriate to assumè that th• Foundation will continue in business. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable ac¢uracy at any time the financial position of the Foundatlon. They are responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approval Thi5 report was approved by the Trustees on and Signed on theor behalf. Dr. Stephen Robert5 Trustee and Chalrnian INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF PERKINS'S EDUCATIONAL FOUNDATION Reglstered Charlty No. 528678 I report to the Charity trustees on my examination of the accounts of the Foundation for the year ended 31" December 2024 which are set out on pages 6 to 14. Responslbllltles and basls of report As the Charitvs tru5tee5 you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the ACYI. I report in ￿spert of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable direction$ given by the Charity Commissbon under section 14515llbl of the Act. Independent emamlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any rnaterial respect.. accounting recortls were not kept in respett of the Charity as required by section 130 of the Act,. or the accounts do not accord with those records- or the accounts do not comply with the applicable requSrements concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulation$ 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other rnatters in connection with the examination to which attention should be drawn In this repon in order to enable a proper understanding of the accounts to be reached. W A Hubbard FCCA Burgis & Bullock 8 Elm Court Stratford-upon-Avon Warwi¢kshire CV37 6PA 29th September 2025 PERKINS'S EDUCAnoNAL FOUNOATION Registered Charlty No. 528678 Statement of Finan¢ial Activilies Year Ended 31" December 2024 Unrestricted Funds Total Notés 2024 2023 Income and endowments from: Investment income Total Expenditure Flaising funds Charitable activities- grants Other Total 3.982 38,446 3,483 38,698 Surplus on ktivitles 7,945 7,045 Net gains1llossesl on investments Net incoming resources 5,418 12,9661 Reconciliation of funds: TrJtAI fiJnrtE hrnii8ht fO￿ard at 1st Janu4ry 1 713 784 1 716 750 Total funds ¢arrled forward at 31, December Thc statcmcnt of financial artivities includes 8118ains and losses recognised in the year. All income and expenditure derive from continuing activitie5. PERKINS'S EDUCATIONAL FOUNDATION Registered Charity No. 528678 Balance Sheet Year Ended 31 December 2024 2024 2023 Notes Flxed Assets Investment properties Investments at Market Value 1,440,275 1,440,275 1 $38 629 1537 268 cUr￿nt Assets Bank and cash equivalents 210 158 210,158 214 501 214,501 Creditors: Amounts falling due within one year 29 5A5 Net Current Assets Net Assets 180 573 176 516 Funds Unrestricted Funds The financial statements on page5 6 to 14 were approved by the trustees on ZqJ¥1 . 2É525 and signed on their behalf by:_ Dr. Stephen Roberts Trustee PERKINS'S EDUCATIONAL FOUNDATION Registered Charlty No. 528678 Notes to the Flnanclal Ststements Year Ended 315t December 2024 countin8 Policies Charlty Informatlon Perkin's Educational Fotjndation is an unincorporated charity and was registered with the Charity commission in England and Wales as a Charlty on 1st September 1964 (No. 5286781. The Charity was established under Trust Deed 6 May 1964. The registered office is No 10 Elm Court, Arden Street, Stratford upon Avon, W3rwi¢kshire, CV37 6PA. Accounting Conventlon The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the 2019 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS10212Thd edition. The financial Statements are prepared under the historical cost convention. as modified by the revaluation of investments to market value. The financial statements are prepared in sterling which is the funttional currency of the Charlty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities IA¢count5 and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in rrord3ncp with the Financial Reportin8 StandJrd applicable in the UK and R•public of Irg13nd IFRS 1021 issued on 16 july 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2(K)5 which has since been withdrawn. Going Concern At the timt of approvin8 the financial 5taternents, the Trustee3 have a reasonable expectatioTr that the Charity has adequate resources to continue in operational existence forthe foreseeable future. Thus, the Trustees continue to adopt the going con¢em basis of accounting in preparing the financial statements. Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. PERKINS'S EDUCATIONAL FOUNDATION Re8lstsred Charlty No. 528678 Notes to the Flnancial Ststements Year Énded 315t December 2024 Accounting Pollcles contlnued Investments Investments are included at closing Market value at the balance sheet date. All realised and unrealised gains are taken to the statement of flnancial activlties. Incoming Resources Incomin8 resources are included in the statement of financial activilies when the Charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracv. Dividend incorne is recoAnised when the Trust is entitled to the dividend and interest receivable is recognised on an accruals basis. Donations in kind represent the cost of donated services received during the year valued at the price which the Charity would pay in the open market, where this can be reasonably quantified. Resources eMpend@d Expenditure on grants is recorded once the Trust has made an unconditional commitment to pay the grant and this is Communicatèd to the beneficiary or the grant has been paid, whichever is the earlier. Other expenditure is included on an accruals ba51S. Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Flnanclal Ihstruments The Charity ha5 elected to apply the provislons of section 11 of rRS 102 'E3asic financial Instruments, to all of its financial instrurnents. Financial instruments are recognised in the Charitvs balan￿ sheet when the Charity becomes party to the contractual provisions of the instrument. Bosicfint7ncial assets Basic financial assets include fixed asset investments. debtors. cash and bank balances. Fixed asset investments are measured as stated above. Debtors. cash and bank balances are measured at transaction price including transaction c05t5. 8osicfinonciol liobilities Basic financial liabilities. are creditors and atcru31s whith are mèagurèd at transartion price (cash or expected settlement amount). PERKINS'S EDUCATIONAL FOUNDATION Reglstered Charity No. 528678 Notes to the Financial Ststements Year ended 31 Decembèr 2024 2024 2023 Investment Income Rents receivable Consent to Use of car park Dividend5 and interest from listed investments Bank interest 39,507 6,573 4,624 39,448 5,691 Raising funds Investment management fees Re￿tal mana8einent cl)arse Insurance Le%al and Professional charges 1,125 1,050 1,807 1,211 524 1,748 Charitable artlvltles Grants to young individuals to provide assistance in Higher Education Contribution towards local schools and youth organisations 22,037 19,825 Grants to institutions comprise.. Bidford Juniors Football Club Salford Priors School The Guide Association Cleeve Prior Heritage Trust Rainbow P18yschool Harvington CE school Bidford On Avon Primary School I, Salford Priors Guides Cleeve Prior School Dunnington Primary School 900 15,000 143 366 1,990 2,0(K) S,096 16,409 18,873 The £15,000 grant to Salford Priors School was for the purpose of installing an outdoor activity trail at this small school, to complement parents, own fund-raising efforts. io PERKINS'S EOUCATIONAL FOUNDATION Registered Charity No. 528678 Notes to the Flnanclal Statements Year ended 31¥t December 2024 2024 2023 4. Other costs Lodders, retainer Independent Examination- current year IndèpÈnd@nt Examination in relation to prior years Secretarvs salary and expenses Website design and maintenance Bank charges P05tage. telephone and stationery 1,051 1,240 1,051 1,210 1,047 677 79 34 1.150 1,026 82 There were no employees who received totsl employee benefrts of more than £60,000 in the year12023'. nill. li PERKINS'S EDUCATIONAL FOUNDATION Reglstered Charity No. 528678 Notes to the Financlal Statements Year Ended 31 December 2024 5. Net galnsllosses on investments Total Total 2024 2023 Revaluation of investments 17361 110,5051 ILossl/gain on sale of investments 11,7911 494 Revaluation of investment properties 12,5271 iio.oiii Investment properties Fair value At I january 2024 Net gains or losses through fair value adjustments 1,440,275 At 31 December 2024 1,440,275 Investment properties, held at fair value, included in the financial statements consists of seven terraced houses at 24-30 Church Street, laiid at the real of CliuiLlI Slieel vn whiih ¢1 car park Ile5 and properties at 24-25 Sheep Street, all situated in Stratford-upon-Avon. The Church Street properties are subject to a 99-year lease, of which 41 year5 remain, a formal valuation wa5 undertaken on 22 Septernber 2021. The freehold reversion has been valued on an enfranchisement basis, this has been derived from the marrlage value, term of the lease and reversion. The valuers, Midland Valuation5, are an independent experr who specialise in leasehold enfranchisement valuations. Sheep Street properties and the land at the rear of Church Street were also subject to 3 formal valuation on 21 October 2021 by Tim Cox Associates, independent chartered surveyors. The Trustees are happy that both these valLtation5 continue to represent the fair value of properties at th*5 ygAr-gnd 12 PERKINS'S EDUCATIONAL FOUNDATION Reglstered Charlty No. 528678 Notes to the Flnanclal Statements Year Ended 315t December 2024 2024 2023 Fi¥ed Asset Investments Listed investments Market value at I, january 96,993 106.047 Additions at C05t 37,524 37.623 Disposal proteeds 133,6361 136,6661 Net realised and unrealised Ilossesl/gain5 Market value at 31" December Historical cost of listed investments at 31 December 2024 Creditors Rent received in advance Other creditors AecTuals 26,250 34 26,250 7,334 The rent received in advance is made up of quarterly rent of £8,750 and £17,5￿ in Deposits held on behalf of tenants. 9. Financial Instruments Instruments measured at fair value through profit or loss 1538 629 1537 268 13 PERKINS'S EDUCATIONAL FOUNDATION Re8lSteTed Charity No. 528678 Notes to the Financial Statements Year Ended 31, December 2024 10. Reserves A legal review of the Scheme's constitution in 2022 concluded that in the absence of anv contrary historic information there was insufficient cause for any of the Charity'5 investment properties to bè classifièd as endowment funds, hence all the funds of the Charity are classified as being unrestricted and available to the Trustees in the furtherance of the Charity's objectives. 11. Trustee5 and related parties None of the Trustees lor any persons connerted with theml received any remuneration during the year. Travelling and other expenses amounting to ÉNil were reimbursed during the year12023.. £Nill. There were no related party transactions during the ye3r12023'. £Nill. 14