Lady Lumley's Educational Foundation
Trustees, Report and Unaudited Financial Statements
For the Year Ended 31 March 2025
Charity Number 529625

LADY LUMLEY'S EDUCATIONAL FOUNDATION
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Officers and Professional Advisors
Trustees, Report
Independent Examiner's Report
Statem¢nt of Financial Activities
Balance Sheet
Notes to the Accounts

Lady Lumley's Educational Foundation
Officers and Professional Advisors
For the Year ended 31 March 2025
Independent Examiners
Hallgarth Accountants Ltd
2 Hallgarth
Pickering
N Yorkshire
Bankers
National W¢strninster Bank PIC
27 Yorkersgate
Malton
N Yorkshire
Stockbrokers
M¢ssrs Br¢win Dolphin
th
4 Floor, Wellington Place
Leeds
LSI 4AN
Surveyor / Valuer
MessTS Cundalls
15 Market Place
Malton
N Yorkshirc
Solicitors
Messrs Hague and Dixon
12 Smiddy Hill
Pickering
N Yorkshir¢

LADY LUMLEY'S EDUCATIONAL FOUNDATION
ANNUAL REPORT
YEAR ENDED 31ST MARCH 2025
Lady Lurnley's Educational Foundation was constittited by Deed Poll by Viscounfrss
th
Elizabeth Lumley in 1657. It is governed by a Charitable Sch¢m¢ dat¢d 20 October
1959 as amended by a Scheme dated 6 September 1990. The Trustees are incorporated
as a body under the name "The Governors of Lady Lumley's Educational Foundation"
The Foundation is a rcgistered charity, No.529625, and its address is c/0 Clerk to the
Governors, Roxby Hill, Pick¢ring Road, Thornton Dale, Pickering, North Yorkshire,
Y018 7LH.
Governors
The Governors during the Year to 31" March 2025 were:
Mr. C.M. Cooper - (Chair) Co-opted
Mr. G. Acomb (Vice-chair) - Appointed by Thornton Dale Parish Council
Cllr. J. Andrews - Appointed by North Yorkshire Council
Dr. J.S. Coppack- Co-opted
Ms. E. Daplyn (fornierly known as Ms. E. Steadman) - Appointed by
Pickering Town Council
,Mrs. C. Eade
Appointed by the Local Governing Body of Lady
Lumley's School
Ms. C. Foden - Appointed by the Local Governing Body of Lady
Lumley's School
Mrs. A. Nightingale
Appointed by Sinnington Parish Council
(Disqualified November 2024)
Mr. A. Ross - Appointed by the Local Governing Body of Lady Lumley's
School (Resigned July 2024)
Mrs. H.G. Yeabsley - Appointed by the Local Governing Body of Lady
Lumley's School (Appointed March 2025
One Vacancy
Governors are appointed for a terni of five years in accordance with the Charitabl¢
Scheme of the charity. Governors are nominated by those bodies whose names appear
alongside their name above. The nominated Governors appoint Co-opted Governors.
The Clerk to the Governors is D.C. FitzGcrald, Esq., B.Sc., of Roxby Hill, Pickering
Road, Thornton Dale. Pickering, North Yorkshire YO 18 7LH.
The Assistant Clerk to the Governors is Ms. M. Curtis BA of Cliff Cottage, Wrelto
Pickering. North Yorkshire YOI 8 8PJ
The Independent Examiners are Hallgarth Accountants Ltd of 2 Hallgarth, Pickering.
North Yorkshire
The Bankers are National Westminster Bank pl¢ of Yorkersgate. Malton, North
Yorkshire.
The Stockbrokers are Messrs. Brewin Dolphin of 10 Wellington Place, Leeds, West
Yorkshire.

The Surveyorlvaluer is Messrs. Cundalls, 15 Market Place, Malton. North Yorkshire.
The Solicitors are Messrs. Hague and Dixon of 12 Smiddy Hill, Pickering, North
Yorkshire YOI 8 7AN.
Objects, Organisation and Activities
The Foundation's activities are restricted to the town of Pickering and the parishes
of Sinnington and Thornton le Dale in North Yorkshire. All of its property and
investments, except Designated Funds, are pernjanent endowment, Apart from a
sum of £410, the income from which is used for the Daniel Warin Memorial
Prize, all the Foundation's funds are unrestricted.
The Foundation was established to provide financial assistance to Lady Lumley's
School, Pickering and to beneficiaries residing in the area of its activities. Out of
the annual income certain payments, tenned Stattltory Payments in th¢ Accounts,
are made to almshouses foundations in Thornton Dale, Aldgate and Bishopgate
(London) and to NACRO as successor to York Debtors, Prison. The amount of
these payments is fixed by the Charitsble Scheme. A further payment is made to
Sinnington School Charity. This amount is fixed by the Governors and is
currently £500 per annum.
The Charitable Scheme provides that the net income of the Foundation be applied
in any one or more of the following ways.'_
(i) in providing special benefits of any kind not nornially provided by the LEA for
Lady Lumley's School.
(li) in awarding to beneficiaries Scholarships, Bursaries or Maintenance
Allowances tenable at any School, University or other place of l¢arning'
(iii) in providing financial assistance, outfits, clothing, tools, instruments or books
to enable beneficiaries on leaving school, university or other educational
establishment to prepare for, or to assist their entry into, a profession, trade or
calling.
(iv) in awarding Scholarships or Maintenance Allowances to enable beneficiaries
to travel abroad to pursue their education;
(v) in providing, or assisting the provision of, facilities, of any kind not nornially
provided by the LEA, for recreation and social and physical training, including
coaching in athletics, sports and games, for beneficiaries who are receiving
primary, secondary or fi￿h¢r education. and
(vi) in providing financial assistance to enable beneficiaries to study music or
other arts.
"Beneficiaries" are defined as peTsons who have not attained the age of twenty-
five years who, or whose parents. are resident in the Urban District of Pickering or
in either of the Parishes of Thornton le Dale and Sinnington, or who are attending
or have att¢nd¢d as pupils at Lady Lumley's School, and who, in the opinion of
the Governors, are in need of financial assistance.
The Foundation is run by the Governors who meet at least three times a year
assisted by the part-time Clerk. At their meetings the Governors make decisions
on the management of the Foundation's property and investments and resolve on
applications for grant aid.

By a separate charltable scheme, known as "The Sinnington School Charity" the
Governors of the Foundation are also the Trustees of this charity and when
appropriate resolve on business relating to it.
Review of Progress, Achievements and Financial Activities
Governors learnt during the past year that The Coast and Vale Learning Trust that
the school had recently joined, was in negotiations with Delta Trnst, a large multi-
academy trust based in Knottingly, West Yorkshire. The Trust operdtes 57
acadcrny schools in West, East and South Yorkshire, Lincolnshire and
Nottinghamshir¢. A fonnal transfer of undertakings has started and is expected to
be concluded by the start of Scptember this year. The School has been well
supported through Delta enabling it to value the School's traditions but take
advantage of the support and resources of a systems led trust.
There is still no news about when or even if the School's bid to the DtE School's
Re-building Progranllne will be finalised.
During the year Governors awarded 42 grants to individual beneficiaries totalling
£11,483.50, compared with 32 grants awarded last year to a total of£9,733.
The grants applied for covered many different ar¢as.' books and equipment for
higher and further education courses. travel grants to further beneficiaries,
education. tools for those students entering apprenticeships. assistance with the
cost of Duke of Edinburgh expeditions and residential courses; and educational
trips organised through the school.
The Foundation provides three minibuses for the use of tbe school and assists
with the running costs - road fund licence. insurance. MOT tests. etc.
In anticipation of the Clerk's retirement at the end of July 2025, the post of
Assistant Clerk was advertised and Ms. Megan Curtis was appointed from the I,
July 2024 to work alongside th¢ Clerk with a view to taking over upon his
retirement.
Public Benefit
The objects of the Foundation are the promotion of education and assisting young
people into work. The area of benefit is d¢fined in the Charitable Scheme which
governs the Foundation. The Trustees have reterred to th¢ Charity Commission
guidance on public benefit when reviewing the aims and objectives of the charity
and when awarding grants to beneficiaries.
Risk Management
The Governors actively Teview the major risks that may affect the Foundation on
a regular basis and believe that maintaining reserves at current levels, combined
with an annual review of financial controls, will provide sufficient resources in
the event of adverse condilions.
The Governors have a duty to identify and review the risks to which the charity is
exposed and to ensure appropriate Controls are in place to provide reasonable
assurance against fraud and error.

Reserves Policy
It is the policy of the Foundation to maintain unrestricted funds at a level which
equates to approximately 12 months unrestricted expenditure. This provides
sufficient ￿ndS to cover management and administration and grant costs.
Unrestricted funds are maintained at least to this level throughout the year.
Data Protection
Governors considered the implications of the new data protection Tegulations
(GDPR) and ensured thal the Foundation was compliant with these.
Statement of Governors, Responsibilities
The law applicable to charities in England and Wales requires the Governors to
prepare financial statements for each financial year which give a true and fair
view of the Foundation's financial activities during the year and of its financial
position at the end of the year. In preparing those financial stalements, the
Governors are required to:
a) select suitsble accounting policies and apply them consistently.
b) observe the methods and principles in the Charities SORP
c) make judgements and estimates that are reasonable and prudent;
d) state whether applicable accounting standards and statements of recommended
practice have been followed, subject to any departures disclosed and explained in
the financial statements.
e) prepare the financial statements on a going concern basis unless it is inappropriate
to presume that the Foundation will continue in operation.
The Governors are responsible for maintsining proper accounting records which
disclose with reasonable accuracy at any time the financial position of the Foundation
and enable them to ensure that the fmancial statements comply with the Charities Act
2011. They are also responsible for safeguarding the assets of the Foundation and
hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities. The Governors have complied with the duty in section 4 of Ihe 2011
Charities Act to have due regard to guidance published by the Charity Commission,
including public benefjt guidance.
Approval
This report was approved by the Governors on the 5 November 2025 and signed on
their behalf.
C M Coop¢r
Chair of Governors

LADY LUMLEY'S EDUCATIONAL FOUNDATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LADY LUMLKY'S EDUCATIONAL FOUNDATION
We report to the trustees on our examination of the accounts of Lady Lumley's
Educational Foundation for the year ended 31" March 2025, which are set out on pages 7
to 13.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
We report in respect of our examination of the Trustses, accounts carried out under
section 145 of the 2011 Act arAd in carrying out our examination we have followed all of
the applicable Dir¢ctions given by the Charity Commission under section 145(5)(b) of the
2011 Act.
Independent examiner's statement
We have completed our examination. We can confIrn] that no material matters have come
to our attention in connection with thc cxamination giving us cause to believe that in any
material respect.
accounting records w¢r¢ not kept in respect of the Charity as required by section
130 of thc Act. or
the accounts do not accord with those records.
We have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Mrs H Raine ACA
Hallgarth Accountants Ltd
Chartered Accountants
2 Hallgarth
Pickering
N Yorkshire
YOI 8 7AW

LADY LUMLEY'S EDUCATIONAL FOUNDATION
STATEMENT OF FINANCJAL ACTIVITIES
FOR THE YEAR ENDED 31" I¥L4RCH 202S
Notes
Restricted
Funds
Endowed
Funds
Total
2025
Total
2024
INCOME
Investment Income
tncome from Property
Investment In¢om¢ and
Interest
9,751
9,751
10,683
20
Total Jneome
20
91.435
EXPENDJTURE
Charitable Expenditure
Educational Benefits
Statutory Payments
Other Expenditure
Management &
Administrdtion
20
52,519
750
52,539
750
51,756
750
Total Expenditure
20
Net Income and net
movement in fund5
before gains and losses on
investments
17,860
17,860
15,535
N¢t (loss¢s)/ gains on
inv¢5tmcnts
230 008
Netimovement in Funds
Reconeillation of Funds:
Total fijnds brought
forward
12
410
4 002 772
4 003 182 3 757639
Total funds carried forward
12
410
There are DO Tecognised gains or losses for 2024 and 2025 other than those included in the
Statement of Financial Activities. The notes on pages I I to 15 forni a part of thes¢ accounts.

LADY LUMLEY'S EDUCATIONAL FOUNDATION
BALANCE SHEET
AS AT 31" ￿L￿RCH 2025
Notes
Total
2025
Total
2025
Total
2024
Total
2024
FIXED ASSET INVESTMENTS
Inv¢stmcnt Properties
Investments
926,860
2 732 455
3,659,315
926,860
2 813 162
3,740,022
CURRENT ASSETS
Cash in Bank & In Hand
Debtors
295,823
268,374
350
.268 724
io
CREDITORS
Amounts falling du¢ wid]in
l y¢ar.
Net Current Assets
289 961
263 160
Total Assets Less
Current Liabilities
FUNDS
Restricted Funds
12
410
410
Endowed Fund5
12
3 948 866
4 002 772
Approved by the Trustees and signed on their behalf:
C M Coopcr
Dated: 0511112025

LADY LUMLEY'S EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 311¢ MARCH 2025
ACCOUNTING POLICIES
Basis of Preparatioll and Assessment of Going Concern
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unl¢ss otherwise stated in the relevant not¢(s) to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Practice.. Ac¢ounting and Reporting by Charities preparing their accounts in
accordance with th¢ Financial R¢porting Stsndard applicable in the UK and Republic of Ir¢land
(FRS102) with FRS102 and with the requircm¢nts of the Charities Act 2011.
The trustc¢s consider that there are no material uncertainties about the Charity's ability to
¢ontinu¢ as a going concern. There are no material uncertainties affecting the current year's
accounts.
Income Recognition
All income is recognised once ih¢ charity has ¢ntitlement to the income.
Interest on funds held on deposit is included whcn receivable and the amount can be measured
reliably by th¢ Charity. this is nornially upon notification of the interest paid or payabl¢ by the
bank.
Dividends are reCO￿lsed once the dividend has been declared and notificatlOD has been
received of the dividend due.
Expenditure Recognition
Liabilities are recognised as expenditu￿ as soon as there is a legal or ¢onstrucliv¢ obligation
committing th¢ charity to that ￿penditUTe,
All expenditure is accounted for on an accruals basis.
Grants payable are payments made to third parties in the furtb¢ran¢e of the charitable objects of
the Trust. Provisions for grants are made when the intention to make a grant has been
communicated to the recipient.
Fixed Asset Investments
Investments are included at closing market value using the bid price at the balance sheet date.
Gains and losses on disposal and revaluation of investments are Charged or crcdited to the
SOFA.
Investment Property and Income
Investment property is shown at tb¢ most re¢¢nt valuation. Any aggregate surplus or deficit
arising from the changes in market value is tranSfe￿¢d to the endowment fund.
Inv¢stm¢nt Incom¢ is accounted for in the period in which the charity is entitled to receipt.
Value Added Tax
Value Added Tax is not recoverable by the charity, and &$ such, is included in the relevant Costs
in the Stalement of Financial Activities.

LADY LUMLEY'S EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31" MARCH 2025
INCOME FROM PROPERTY
2025
2024
Rents and Wayl¢aves
INVESTIVIENT INCOME
2025
2024
Income from Listed Inv¢stm¢nts
Interest Receivable on Cash Deposits
77,442
72,946
EDUCATIONAL BENEFITS
2025
2024
Lady Lumley's School:
Departmental Requests
Minibus Tax, InsuTanc¢ & Maintenance
School Prizcs & Prize-giving Expenses
Grants - Courses for Senior Pupils
Year 8 Outdoor Education
Sixth Forni Interview Expenses
Building Costs
Grants to Individual Beneficiaries
20,895
6,000
6,060
2,000
6,000
15,668
12,000
6,060
2,000
6,000
61
STATUTORY PAYMENTS
2025
2024
Sinnington School Annual Payment
Lady Lumley's Almshouses Charity
Bishopgate Foundation & Aldgate Freedom Foundation
NACRO
500
160
75
15
500
160
75
15
io

LADY LUMLEY'S EDUCATIONAL FOUTrIDATIOI¥4
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31" MARCH 2025
MANAGEMENT & ADMINISTRATION
COSTS
Administration Staff
Independent Examination Fees
Other Administrative Costs
2025
2024
13,075
3,324
8,242
3,114
NET MOVEMENTS IN FUNDS FOR THE
YEAR
2025
2024
The net movement in funds for the year is stated
after ¢h2rging".-
Independent Examination F¢¢s
No r¢muneration was paid to trnstces in th¢ year, nor was any expcns¢s reimburscd to
INVESTMEIYT PROPERTIES
Freehold Land
& Buildings
Valuation
As at 1st April 2024
Disposals
R¢valuation
Net Book Value
As at 31$t March 2025
926,860
26
As at 31" Marcb 2024
The investment properties were valued by professional valu¢T's on 3 1st March 2023. Th¢
Trustees are satisfied that the current open Ma￿et value is not materially different from
the value included within th¢ financial statements.

LADY LUMLEY'S EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2025
ItNVESTMENTS
2025
2024
Market value at 1st April 2024
Acquisitions at cost
Disposals at opening book value
Net Gain / (IA)ss) on revaluation at 31 Mawh 2025
Market Value at 31 March 2025
2,813.161
385,903
(394,843)
2,546,512
257,663
(209,819)
218 805
2 732 455
Investments at Market Value comprise Listed on UK stock
cxchang¢. (Historical C05t £481,431)
Con)mon Investment Funds
1,101,857
1630 598
1,102,877
1710284
All investments are c2rri¢d at their fair value. Invcstmcnts in equities and fixed int¢￿st securities
are all traded in quoted public n￿rkets, primarily the London Stock Exchange. Holdings in commoi
investment funds, unit trnsls and open-ended investment companies are at bid price. The basis of
fair value for quoted investments is equivalent to the market value using th¢ bid price. Assct salcs
and purchases are recogllised at the date of trade at cost.
10.
DEBTORS
2025
21)24
Rents
Other debtors
350
11.
CREDITORS: (Amounts falling due within l year)
2025
2024
Grants to Individual Beneficiaries
Accruals
500
400
12

LADY LUMLEY'S EDUCATIONAL FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31- MARCH 2025
12. STATEMENT OF FUNDS
Endowed Designated Funds
Ceneral
Reserve
Fund
Restricted
Funds
Endoived
Funds
Building
Project
Minibus
Replacement
Total
Balance at 1st April
2024
410
3,344,480
20,000
600,291
38,000
4,003,181
Loss for the year
(53,905)
(53,905)
TranSf￿S betwc¢n
funds
220 000
Balance at 31,
March 2025
Rcprcscntcd by:
Invcstmcnts
3,659,315
3,659,315
Net Current Assets
410
588 740
814291
289 961
Balance at 3 1st
March 2025
410
814 291
The designated building project fund represents amounts put aside by the trustees for new building at Lady
Lumley's school.
The designated general reserves fund represents amounts Put aside by the trustces in cas¢ of a situation
where approved payments exceed income.
The designated minibus replacement fimd represents amounts put aside by the trustees for the replacement
of th¢ minibus at Lady Lumley's School.
The endowment fund represents those assets, which must be held pennanently by the charity, principally
invcstments. Income arising on th¢ endowm¢nt fimd can bc uscd in accordance with the objects of the
charity and is included as unrestricted income. Any capital gains or losscs arising on the investments form
part of th¢ fund. Investmcnt manag¢menl charges and legal advice relating to the fund are ¢harg¢d against
the fund.
The restricted fund represents the amount held to fund th¢ Dani¢l Warin Memorial Prize.
13