YARDLEY EDUCATIONAL FOtrNDATION REPORT OF THE TRUSTEES AND UNAUDrrED FNANCtAL STATEMEKrs YEAR ENDED 31 MARCH 2025 CHAIUTY NUMBER 528918 JwHinKS
YARDLEY EDUCATtONAL FoifNDATION Report of the Trnstees Ito3 Independent Examiners Report to the Tn Statement of Finon¢ial Activitie5 Balan Sheet Notes to th¢ Financial Statem¢nts 7tolO
YARDLEY EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES - YEAR ENDED 31 fylARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS REGISTERED CHARfrY NUMBER 528918 TRUSTEES Mr S O'Donnell Mrs E Hayes Councillor P Tilsl¢y Mrs P Wagg Mr R Jones Ms L O'shea (Chairniall) (Deputy Chair) PRINCIPAL ADDRESS PO Box 18605 Birmingham B37 9ES PRINCIPAL OFFICER Clerk to the Trustees., Mr5. K. Gri BANKERS l.loyds Bank plc New Strect Bimiingham PROPERTY MANAGEILS John Shepherd Estate Agents 6 The Grand 33 Colmor¢ Row Bimiingham INDEPENDENT EXAMINER Mrs. K. Jackson FCCA FCA JW Hink5 LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Ed8baslon Bitiningham tNVESTMENT ADVISORS Brewin Dolphin Limited 9 Colmore Row Bimiingham (continued)
YARDLEY EDUCATIONAL FOUNDATION REPORT OF THE TRUSTEES (continued) YEAR ENDED 31 MARCH 2025 The Trustees present their report along with the financial statements of the Charity for the year ended 31 Mareh 2025. The financial stalements have bef;n prepared in &¢cordAnce with the Si8tement of Recommended Practice '. Accounting and Reporting by Charities preparing their accoLinls in accordance with th¢ Finan¢ial Reporting Standard applicable in the UK and Rcpublic of Ireland (FRS 102) issued on 16 July 2014 and the Firwicial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) and The Charities Act 2011. STRUCTURE, GOVERNANCE AND MANAGEMENT Th¢ Charity is constituted under a trust deed and is a registered charity. The Gov¢rning Body is made up of twelve Trustees and at the year end th¢re were six appointed. The Trustees who served durin8 the year are set oul on pa8e one. The Trustees are appointed by th¢ Board of Trustees, Biminghani City Council, Govcmor5 of King Edward Vl School and the University of Binningham. Following appoiiltment, new Trustees are inlroduc¢d to their new roles and given copies of the TrLksI Deed and a guide to policies and procedures adopted by th¢ Charity. The Foundation appreciates the contributions made by individual Trusiees whose support is manifested by their regular &tt¢ndance at meetings and whose concern for the w¢lfare of so m&ny young people with different educational needs is so important. OBJECTIVES AND ACTIvrriES The object of the Foundalion is to help individual children between the ages of eleven and sixteen and young adults goin8 into further ¢ducalion betwe¢n sixteen and nincl¢en. llie r¢¢ipienls of th¢ grant5 should l)av¢ resid¢d in Il)e Anci¢ni Parisl) gf Yardley for not le5S than two years and be of low incoine. The Clerk tu the Trustees h&$ ¢lose liaison with the Secondary Schools throughout the Ancient Parisl) and is in Gonslant louch with them to asc¢rtain Ih¢ir needs. When planning activitics for th¢ year, the Trustees hAve consid¢r¢d the Charity Commissions guidance on public bertefit. RISK POLICY The Trustees are consciov5 of the risks of fraud in administering the grants to deserving needy in the Ancient Parish of Yardley. Close liaison with the h0O[$ whose 5tud¢nls receive grants lias proved advantageous in this respect and cases of fallacious Claims have been exposed. Continuing vigilance in this connection is essential. In addition, contact with the retail suppliers is essential in order to monitor the account5 received for payment. ACHIEVEMENTS, PERFORMANCE AIYD FINANCIAL REVIEW The total funds of the Charity now amount to £5,363.026. Investments had urtreali5ed losses on revaluation for th¢ year amounting to £41.613. Property income has slightly incr¢ased thi5 y¢ar £67,170 was received. Income from quoted investments was £132.782, this b¢ing up on the pr¢vious year by £4,188. (continued)
YARDLEY EDUCATtONAL FOUNDATION REPORT OF TKE TRUSTEES (continued) - YEAR ENDED 31 MARCH 2025 There have been no changes in the objectiv¢s. organisation or polieies sitice th¢ last report. The financial statements comply with current StalOry requirements and the Charity's gov¢rning documents. During the year 1.799 applications for grants were received. Total grants for Education paid amountd to £93,786 for clothing. sports equipm¢nt, book vouchers and school trips. The Trustees consider that all activities undertaken by the Charity in the year provides benefit FK)th lo thos¢ who directly benefit from each activity and the wid¢r Community of Yardley. INVESTMENTS Portfolio Purpose 4nd Inve8tmen¢ Policy The investTnent portfolio represent5 long tern) &ssets, the purpose of which is to generate in¢ome And capital growth lo fijnd charitable activities and to maintain the real value. The Trustees employ professional investment managers. Brewin Dolphin, to manAge the portfolio subject to restrictions and risk ¢onlrols contained in the Investment Policy Statem¢nt. Brewin Dolphin report to Trustses regularly and ih¢ Investment Policy Siat¢ment is reviewed on a periodic basis. The Trustees wish io Msure that they invest in a responsibl¢ way and so the Investment Policy Ststement contains an ethical investment policy. This policy Seeks to exclude those investments which are contrary to the value and ethos of the organisation such as Arniaments, Tobacco, Online Gamin8 and Irr¢sponsible L¢nding. The Trustees also expect Brewin Dolphin lo consider ESG (Environmental. Swial and Governance) fACtors in their management olthe portfolio. RESERVES POLICY The level of r¢serves held is in line with the Trustees policy of building funds sufficient to improve, add to &nd increas¢ the facilities held for ch4ritable putposes And to generate sufficienl iftcome to be able lo make grants available. FIXED ASSETS Movements in fixed assets are disclosed in notes 5 and 6 of th¢ a¢counts. tNDEPENDENT EXAMll¥ER JW Hinks LLP have expressed their willingness to continue in office as Indepcndent Examin¢r and a resolution to r¢-Appoint thern will b¢ proposed at the forthcomin8 Annual General M¢¢¢ing. Si8ned on behalf of the Trustees MrSO' ChAirma 16 Octokr 2025
YAIiDLEY EDUCATIONAL FOUNDATION INDEPENDEN[ EXAMfNER'S REPORT TO ThE TRUSTEES I report to th¢ charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are s¢t out on pages S to 10. Responsibilitles 2nd basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charitits Act 2011 ('the Aot,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act &nd in carrying out my examination I have followed all the applicabl¢ directions giv¢n by the Charity Commission under section 145{5Xb} of the Act. Independent examlner'8 ytatemeDt I have completed my examination. I confitTn that no material matters have cotne to my attention in connection with the examination giving me cause to beli¢v¢ that in any m&terial respect.. accounting records w¢re not kept in respect of the charity as required by section 130 of thc tho accounts do not comply with th¢ &pplic&ble requirements Concerning the form and content of accounts set out in the Charities (Account8 and Reports) Regulations 2008 other than any requirement that th¢ accounts give a 'true &nd fair view, which is not A matter consider¢d as part of an independent examination. I hav¢ no concerns And have com¢ across DO other mafters in connection with the examination to which attention should b¢ drawn in this report in order to ¢n&ble a proper understanding of the accounts to b¢ reachd. K JAckgon FCCA FCA JW Hink5 LLP Chart¢red Accountants and Statutory Auditors 19 Hi8hfield Road FAlgbaston Birningham B15 3BH 16 October 2025
YARDLEY EDUCATtONAL FOUNDATION STATEMEKf OF FINANCIAL ACTtVITIES - YEAR ENDED 31 MARCH 2025 Total Unrestricted Restricta fvnds nds funds 2025 Total funds 2024 INCOMING RESOURCES Investment incom¢'. Rent receivable Dividends and interesl Bequest Notes 67.170 132,782 67.170 132.782 65,439 l28.594 5,000 TOTAL INCOllNG RESOURCES 199,952 199.952 199,033 RESOURCES EXPENDED Cost of generating ndS 28,889 28,889 28,431 Charitable Activities: School scholarship5, grants for clothingj book vouchers and donations Apprentic¢ships 93,786 93.786 199,692 4,701 93,786 93,786 204.393 Direct and Support Cosls.. Administrative and general expenses 34,469 34,469 29,022 TOTAL RESOURCES EXPEfADED 157,144 157,144 261.846 NET INCOMtNGI{OUTGOING) RESOURCES Before other reGo8nised gains and 105ses 42,808 42,808 (62,813) GAINS ON INVESTfffttF.NTS Realised gains on investm¢nts Unrealised (lossygains on investments Realised gain on investment prOrtieS 13,789 13,789 (41.613) (41,613) 390,00 390,000 2,238 186,437 70,000 NET MOVEMENT IN FUNDS 42,808 362,176 404,984 195,862 BALANCES BROUGHT FORWARD 20,628 4.937.414 4,958,042 4.762,180 BALANCES CARRIED FORWARD 63,436 .5,299,590 5.363,026 4,958,042 All of the above results are derived from continuing activities. All gains and losses r¢cognised in the year are included above. The not¢s on pag¢s 7 to l O fomi part of thes¢ financial stAtemeThts.
YARDLEY BDUCATIONAL FOUNDATION BALANCE SHEET - 31 MARCH 2025 2025 2024 Not¢ FIXED ASSETS Tangibl¢ assets.. Inv¢stment properties Investments 1,665.000 3.482.930 l.275,000 3,512.178 5,147,930 4.787.178 CURRENT ASSETS Debtors Cash at bank and in Iwid 34.449 191.147 38,811 146,655 225,596 185,466 CREDITORS: AM0s FALLllYG DUE WITHIN ONE YEAR 10,500 14,602 NET CURRENT ASSETS TOTAL ASSF,TS LESS CURRENT LIABILITILS 215,096 170,864 £5,363.026 £4,958,042 RESERVES 5,299.590 63.436 4,937,414 20,628 Restricted funds Unrestricted fiinds £5.363.026 £4.958.042 The not¢s on pages 7 to 10 form part of these financial st8tem¢nts. Thes¢ financial statements were &pproved by the Trust¢¢s and signed on their behalf by: onnell CbAirmaD Mr$ E H*yey Trustee 16 Cktober 2025
Y ARDLEY EDUCATIONAL FOUNDATION NOTES TO THE FfNANCIAL STATEMENTS _ YEAR ENDED 31 N(ARCH 2025 PRINC]PAL ACCOUNTING POLICIES The following accounting policies hav¢ been applied Qonsistently in dealing with itcms which are considered matgrial in relation to the Charity's financial statements. (a) Basis of preparing the finADcial statements The financial 5tatement5 have been prepared under the historical ¢osl conve¥Jlion with items reco8nis¢d at cost or transaction value unless otherwise ststed in the relevant note(s) to these aecounls. The financial statements hav¢ b¢en prepar¢d in accordance with the Statement of Recommended Practice Accouiilins and Reporting by Charities preparing their accounts in accordance with tlie Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicabl¢ in the United Kingdom 8nd Republic of Ireland (FRS 102) and th¢ Chariti¢s Aot 2011. (b) Accumulated funds represent the following: Restricted funds.. Funds subject io specific condition5 that musl be complied with. These funds originate from Ilie initial endowment policy. Funds ihat are available for any charitable use in e0rdance with the Scheme rnles, Unr¢stricted fvnds.. (e) Incomlng resources All incoming resources are includ¢d in the Staletnent of Financial Activities (SOFA) when the Charity is legally ¢ntitl¢d to th¢ in¢om¢ And the Amount can be quantilied with reasoi)able accuracy. Both Rental 8nd Investtnent incom¢ ar¢ account¢d for in th¢ period in which th¢ Charity is entitl¢d to receipt. (d) Resources expended Expenditure is accounted for on an accruals basis and has be¢n classified under h¢&dings that aggregate all costs relating to the category. Costs of generating funds comprise those cost5 directly attribut&ble to mana8in8 the property and invcstmcnt portfolio and raising inv¢stm¢nt income. Grants payable are charged in the year wh¢n the offer is ¢onveyed to the recipient. Direct and support costs ar¢ accounted for on an accnjals basi5. The cost of irrecoverable Value Added is included within the items of expense to which it relates. (e) Investment propertles Investment properties are included in the B&l8nc¢ Sheet at their open market value. Depreciation is provided on these investment properties which are leasehold and where the un¢xpir¢d l¢asc term is les5 than 20 y¢ars. Any gains or loss on revaluation is taken to th¢ Statement of Financial Activitie5. (D Inve5tment5 in quoted securiti Fixed asset investsnents in th¢ forni of marketabl¢ 5e¢urifies Are staled at closing mid-market value at the Balance Sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities. (continued)
Y ARDLEY EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {¢ontinued) - YEAR ENDED 31 MARCH 2025 SALARIES AND EXPENSES The Charity had no cmploy¢es in either year. The Trustees received no remuneration in either year. Re-imbursement of expenses totalling £nil were paid in the year. COST OF GENERATIP4G FUNDS 2025 2024 Mana8lDg Agents fee Portfolio Management fee 9.966 18,923 9,871 l8,560 £28,889 £28.431 ADMINISTRATIVE AND GENERAL EXPENSES Clerk's f¢es. expenses and postage Independent Examiner's fees Property repairs Comput¢r costs Insurance Professional fees Sundries Payments to Y8rdl¢y Charities Eslaies Almshous¢s'. Annual p8ym¢nts under detennination order of S June 1908 18,773 3,840 2,111 683 2,198 6,320 18,843 3,750 3,640 1,955 454 380 380 £34.469 £29,022 TANGIBLE ASSETS INVESTMENT PROPERTIES At vAluation At 31 March 2024 Additions at C05t Revaluation Les5: Disposals 1,275.000 1,205.000 70.000 390,000 At 31 March 2025 £1,665,000 £1,275.000 Some of the Foundation's freehold properties wer¢ valued on 31 March 2024 by an independent valuer. Mr T J Boffcy MRICS from Tim Botfey Chartered Surveyors and Valuers. Valuation was in accordance with th¢ requirements of the RICS Professional Valuation St&ndards. The basis of value adopted is the fair valu¢. There havc been no special assumptions. special r¢s¢rvations. special instructions or departures from the RICS valuation. The valualion of th¢ investment properties was on the basis of their Market Value assuming they would be 501d subject to any lenanci¢s. The Market Values were primarily derived using comprable recent market transactions on ann's length ternis. The Trustees consider the Qu¢t values to be not l¢ss than that Slwn in the accounts. (continued)
Y ARDLEY EDUCATIONAL FOUNDATION NOTES TO THE FtNANCIAL STATEMENTS (Continued) - YEAR ENDED 31 MARCH 2025 INVESTMENrs 2025 2024 Investments £3,482,930 £3.512,178 Quoted inveslments Market valu¢ at 31 March 2024 Add.. Additions at Cost Less: Disposal proceeds Add: 3.512.178 3,474,469 432,200 538,028 (433.624) (688,994) Rcalised gains Unrealised {losses)Ig&ins on revaluation 13,789 (41.613) 2.238 186.437 Mark¢1 value at 31 March 2025 £3,482,930 £3,512.178 Cost at 31 March 2025 £3.152,891 £3.107,206 Unr¢8lised gains included in valuation at 31 Mar¢h 2025 £330,039 £404,972 UK listed investments are represented by.. UK Bonds and other fixed interest securities UK Equities Non-UK Equities and Bonds Overseas Bond5 Cash Product 600.728 551,859 1,938.809 340,036 51,498 577,415 544,50I 1,961,231 373,801 55,230 Totsl £3,482.930 £3,512,178 The market valuation at 31 March 2025 &nd 2024 is based on the Stock Exchange Daily Offici81 List and was v&lu¢d by Brewin Dolphin Limited. Stockbrokers. DEBTORS Amounts falling due within one year: Due from Stockbrokers Due from Managing Agents Debtors and prepayments 19.266 13,114 2,069 23,317 13.425 2.069 £34.449 £38.811 (continued)
YARDLEY EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continued) - YEAR ENDED 31 MARCH 2025 cREDORS. AMOUNTS FALLtNG DUE WITHIN ONE YEAR 2025 2024 Accrued expenses Rental income and insurance recharged in vance 5,720 4.780 9,750 4,852 £10,500 £14.602 AJYALYSIS OF NET ASSETS BETWEEN FUNDS Net cutrcnt assets Investment properties Investments Total Restricted funds.. Capital Fund Unrestricted funds.. Accumulated Income Fund 1,665,000 3,313.186 321,404 5,299,590 169,744 (106,308) 63.436 1,665,000 3,482.930 215.096 5,363.026 io. TAXATION Y&rdl¢y Edu¢ation81 Foundation 15 a registered Charity and is ¢x¢mpl from liability IO taxation on its in¢ome and Capital gains which are us¢d for Charitable purposes. ii. ULTIMATE CONTROLLING PARTY The Charity is controlled by the Board of Trustees as disclosed in the Report of the Trustees. 10-