ROBINSONS EDUCATIONAL FOUNDATION ANNUAL REPORT YEAR ENDED 5TH APRIL 2024 Stables Thompson & Briseoe Chartered Accountants ROBINSONS EDUCATIONAL FOUI¥DATION TRUSTEES ANNUAL REPORT YEAR ENDED APRIL 2024 Referenee and Admlnlstradve Detalls Registered Number: 529897 Operating Name: Howgill Endowed School Foundation Date Established: 30th October 1963 Contact Details: Mr A G Macki¢ Low Wilkinson Howgill Kendal Cumbria LA8 OBT Trustees: A A Capstick G E Capstick A G Mackie D Blenkinsop G Marshall R P Farragh Solicitors: Milne Moser 100 Highgate Kendal Cumbria LA9 4HE Independent Examiners: Stables Thompson & Briscoe Lx)wther House Lo￿her Street Kendal Cumbria LA9 4DX strnetUr￿ Governance 2nd Management The charity is governed by a scheme of the Charity Commission dated 30th October 1963, as amended by a ￿herne of 3 1st July 1981. The body of trustees shouliL when complete. consist of six people appointed as follows: Two Representative Trustees to Ix appointed by Sedbergh Parish Council and the County Council of the West Riding of York as Local Education Authority; and Four Co-optative Trustee4 appointed by resolution of the Trustees. ROBINSONS EDUCATIONAL FOUNDATION TRUSTEES ANNUAL REPORT The Representativ¢ Thislees serve for a terni of three years and the Ctroptstiv¢ Trustees for a temi of five years. Objectlves aod ActlvJlle8 This S¢hem¢ was originally s¢¢ up mainly for the support of Howgill Endowed School, bjt following its ¢I08L￿¢ benefits may te provided for any school in the Parish of Sed Cum￿ja. The trustees confinn tbat they bAve referred to the guidance ¢ontained in the Charity Commission's general guidanrx on pub]È¢ benefit when reviewing the Organ15ation's aims and objfxtiyes and in planning ￿tUre a¢tivities. The emphasis of the Charlty is now on the provision of financial assistance to young people under the age of 25 resident in the Parish of sedberg￿ preferably Howgill, to further their education. to study music and arL for travel re¢reation and sporting pursuits and rela¢d benefits of a kind not nornially provided by the Lo¢AI EducitioDaJ Authority. Acblevements and Performance The Charity made 24 {2023- 0) grants to young peopk in the year. ReTlew The Charity had issues in the previou5 year due to AML and KYC Teviews by the bank freezing the bank accounts for most of the period. The accounts were unlocked on 4 March 2￿13. As a result the grants made this year included those that would have beea made la year had the charity had full bank aceess. The charity had income of £27,970 in the year and paid out £28.190 in wts. Oth¢r expenditure was £3.882 r¢suJting in a deficit of £A.102. Resem8 Polley The ch8rity invests surplus fund5 in COIF Investment Funds to ensure the future income of the charlty. As at 5 April 2(Y24 the marker va]ue of these investmenrs was £590.496. This generdtes enough income to cover grants in the year and 8llow a smau sutplus for uneX￿ted expeDse5. Tr trust￿ do not conslder the level of ttserves held to be exLWSiVe. Approved by the trusl¢es on>November 2024 and signed on their behalf by: ROBINSONS EDUCATIONAL FOUNDATION INDEPENDEwf EK4MKNER'S REPORT YEAR ENDED APR￿ 2024 IDdepeDden¢ ExamlDer•¥ Report to the Trustees of RobIn￿￿*S EdueAtloDal Foundatlon I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on the following three pages. being the Receipts and Payments accounL Statement of Assets and Liabilities and Notes to the accounts. Responsibilities and basis of report As the charity's tTh￿eeS you are responsiblc for the preparation of the accounts in accordance with the requirements of the Chatities Act 2011 ('the Act,). I report in respect of my examination of the charity's ac￿Unts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examlDer's statement I have completed my examination. I confirni that no material matters have come to my attention in connection with the e￿qminatIon giving me cause to believe that in any material respect: . aC£￿tIng rffords not W in respect of th¢ Charity &$ rnluired by ￿tIOn 130 of the Ac¢ or I have no concerns and have come across no other matters in connection with the examination to which attention should be drnwn in this report in order to enable a proper understanding of the accounts to bc rcached. Signed: Helen Holmes Bsc FCA ICAEW Stables Thompson & Briscoe LO￿er House Lowther Street Kendal LA9 4DX 8 Nov¢mb¢r 2024 ROBINSONS EDUCATIONAL FOUNDATION RECEIPTS & PAYMENTS ACCOUNT FOR THE YEAR ENDED 5TH APIUL 2024 GENERAL FUNDS 2024 2023 RECEIPTS Ineome from Assets Dividends Deposit Account Interest 27.802 168 3.938 64 Total Receipts 27,970 4,002 PAYMENTS Direct Charitable Expenditure Grants for further & musical education 28.190 675 Other Expenditure Legal Fees Accountancy Room Hire 3,600 264 18 Total Payments 32,072 675 Balance at bank brought forward Movement on bank accounts 15.614 (4.102) 12,287 3,327 Balance at bank at S April 2024 11,512 15.614 ROBINSOIYS EDUCATIONAL FOUNDATION STATEMENT OF ASSETS & LIABILITIES AS AT 5TH APRIL 2024 General Funds 2024 2023 MONETARY ASSETS Current Account Capital Re5¢rv¢ Account 1.262 10,250 874 14,740 Balances ￿ bank 11,512 15,614 Dividends re¢eived post year end 11.932 Liabilities Accountancy fees Owed to Alastair for STB fe Grant cheques issued but not cashed: 0611112020 Carol Southern (still not cashed) Legal fees (276) (252) {502) (571) (571) (2280) NON- MONETARY ASSETS- Held for Investment PqTrpose5 locome Units Dite Acquired Cost to Date Curyent Value 2023 17,055.10 COIF Investment Fund 735.gYI COIF Investsnent Fund 3111011992 620.34 COIF Invcstmeni Fund 3111011994 638.13 COIF Investhient Fund 0211111995 543.42 COIF Investhient Fund 2610911996 469.00 COIF Investment Fund 0810911997 493.07 COIF Investment Fund 0811011998 422.76 COIF Inv¢slm¢nt Fund 2810911999 392.50 COIF Investment Fund I6110￿000 464.32 COIF Investment Fund 1411Y2001 574.54 COIF Investment Fund I110912C￿2 414.86 COIF Investment Fund 2510912003 1,420.93 COIF Investment Fund 2411212003 274.41 COIF Inveslmeni Fund 2710112005 390.75 COIF Inv&8tment Fund 2910912005 314.98 COIF Investment Fund 05110121K)6 291.98 COIF Investhient Fund 25110121)07 626.39 COIF Investment Fund 2011012008 459.24 COIF Investmeni Fund 2211012009 496.89 COIF Investment Fund 0411112010 548.76 COIF Investment Fund 0611012011 270.40 COIF Investment Fund 1811012012 432.13 COIF Invcstsncnt Fund 2611112013 779.89 COIF Investment Fund 1310512015 Various Unknown 345.717 14.917 12.575 12,935 11.015 9.507 9,995 8,570 7.956 9.412 11,646 8,409 28.803 5,562 7,921 6,385 5.919 12,697 9309 10,072 11.124 5.481 8.760 15.809 319,555 13,788 11.623 11,956 10.182 &787 9,238 7,921 7.354 8.71)0 10,765 7,773 26.623 5,142 7.321 5,902 5,471 11,736 8,605 9,310 10.282 5,066 8,097 14,612 4.000 4,500 4250 4.500 4,500 4,500 4.500 4.500 4.500 3,500 12.206 2.500 4.000 3.500 3,500 5,000 5,000 5,000 5.000 2.000 5,000 10.ooo 29.130.69 590,496 545,809 The mid-market price of the incorne units (ex dividend) at 3 1st March 2024 w&8 £2,027.06 (2023: £1.873.66) ROBINSONS EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR EIYDED 5TH APRIL 2024 l Accounting policies a) Basis of preparation The financial ststem¢nts have been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities. As a small charity the trustees have prepared the accounts on a Receipts and Payments basis. The fjnancial statements are prepared in sterlin& which is the functional currency of the charity, and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unl￿S otherwise stated. b) Going Concern The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern. 2 Related Party Tran8action8 There were th¢ following related party trangaetions: Claire Whitehead. who is the granddaughter of A CapsticK received £2,473 in grants. Sarah HOggart￿ who is the niece of E CapsticL received £1.025 in wts. Valerie Gornall, who is the granddaughter of A CapsticK received £1.161 in grants. Craig CapsticK who is the grandson of A CapsticK re￿iVed £1,475 in grants. 3 Trustees remuneratlon No trustees Teceived remuneration or expenses in the year.