THE LEIGH EDUCATIONAL FOUNDATION (CHARITY REGISTRATION NUMBER.. 701462) ANNUAL REPORT AND FINANCIAL STATEMENT 31 DECEMBER 2024
Page 1 THE LEIGH EDUCATIONAL FOUNDATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees presenl Iheir Report and Accounts for the year ended 31 December 2024. Legal and admlnlslratlve detalls Prlnclpal address 3 Barford Woods Barford Road Warwick CV34 6SZ Principal advlsors Independent Examlners 8urgls & Bullock 23-25 Waterloo Place Leamlngton Spa CV32 SLA Bankers Lloyds Bank 73 Parade Leamington Spa CV32 4BB Investment Managèrs EFG Harris Allday 33 Great Charles Streel Bimingham B3 3JN
P¥*2 THE LEIGH EDUCATIONAL FOUNDATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Trusts The Charity of Thomas Lord Leigh The Charity of Thomas Lord Leigh The Charity of the Honourable Ann Leigh Dat8d 24 D8C8mber 1740 Dated 26 October 1710 Dated 12 August 1731 The scheme for the administration and management of the above charities as one charity under Ihe title The Leigh Educational Foundation was approved by the Charity Commlssioners on 13 January 1989. Trustees The Trustees serving during the year comprise the following: One Ex-officio Trustee Loid Leigh Two Nominative Trustees Mrs K Kingston Mr J Astle Four Co-optative Trustees Mr R Coates Mr P Jones Mrs L J Reay {appointed 8 October 2024) Mrs M S Wallis (retired 2 July 2024) Miss S Woolf (Chairman) The cl8rk to the Truslees Is Mr J F Johnson OBE. The ex-officio trustee shall be The Lord Leigh for the time b8ing. The nominative trustee5 shall be appointed by the Parish Councils of Stoneleigh and Ashow and of Leek Wootton and Guy's Cliff8 and shall hold office for a period of four years. The co-optative trustees shall be appointed by the Trustees and shall hold office for a period of five years. The trustees have b88n appointed for a number of years and receive ad hoc training as necessary.
Page 3 THE LEIGH EDUCATIONAL FOUNDATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Obleclives and Actlvltlos Caprtal The Charity Commissioners scheme of 13 January 1989 does not Impose any restrlctlons on the investment or use of capital. Incom• Income to be used for the followlng purposes,. 1) To defray the expenses of the admlnlstration of the Trust. 2) To apply Ihe income in promoting the education of persons und6r the age of 25 years who or whose parents are nomially resident in the area of benefit, being the Civil Parish8s of Stoneleigh, Ashow, Leek Wootlon and Burton Green. Public Benefit The tmsteas have applied the guidance from the Charities Commission relating tc public benefit when assessing grant appllca15ons. Publlc benefit is inherent in the objects of the charity. Pollcles The Trustees invite applications for grants from eligible individuals and institutions and these are onsidered at the meetings of the Trustees. Investment Pollcy The charily has a policy of keeplng any surplus Ilquld funds in short term d8posils which can be accessed readily. Risk Review Th8 trustees consid8rth8ir inv8Stment strategy appropriate to a charity of its size and naluro. Rèserves Policy The charity has a policy that unr8Stricted funds should enab them to cover the previou$ yearfs total outgolng resources to ensure continuity of the operation of the project.
Pag8 4 THE LEIGH EDUCATIONAL FOUNDATION TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevomenls and Futuro Plans The Board wer8 pleased to b6 able to increase the number of grants paid to beneficiaries during the year and hope to see a ccntinuance In this upwards trend. Flnanclal Revlew The income for the year ended 31 December 2024 was £386.398 {2023 £241.058). Management expenses amounted to £5,525 {2023 £5,161) and grants were mad8 amounting to £45,834 (2023 £42,596). Purchases of inveslments reached £412,999 (2023 £134,210). The value of the funds held on 31 December 2024 was £1,071,105 {2023 £1,064.000). Of this a total of £988,316 {2023 £903,251) was investments stated at current market value which are under the management of EFG Harris Allday. For and On Behalf of the Tru ees Dalod: f7 Oc_l 25
Page 5 THE LEIGH EDUCATIONAL FOUNDATION YEAR ENDED 31 DECEMBER 2024 UNRESTRICTED FUND RECEIPTS AND PAYMENTS ACCOUNT 2024 2023 RECEIPTS DR CR DR CR Investmènt Ineoma 50.091 51,926 Sales ol Investments 336.307 189,132 Tolal Rècélpts 386.398 241,058 PAYMENTS Purchasès of Invèstment$ 412,999 134,210 Grants 47,484 11.650) 654 42,S96 Retumed Grants Indepondent Examlner's Fèa Honorarium to Clork Secretary, Trav81 Expenses & Printing 4,220 651 4,375 156 51,359 47,757 Total Paymgnts 464,358 181,967 Excess of Recelpts ovor Paymenls 177,960) 59,091 ¢ash balancg brought forHard on 1 Jan 160,749 101,058 ¢a¥h balanw carried forward on 31 De 82,789 160,749
Page 6 THE LEIGH EDUCATIONAL FOUNDATION STATEMENT OF ASSETS AND LIABIUTIES AS AT 31 DECEMBER 2024 2024 2023 Unre5trlctgd Fund Balance brought forward Excess of rg¢9ipls over payments for the year Realized & unrealized gains on inv8Stments Purchastrs less sale of Investments 1,064,000 (77,960) 15,404 69,661 1,071,105 1,061,969 59,091 4,660 IS1,7201 1,064,000 Represented By: Investments at market value EFG Harris Allday Client Deposit Alc EFG Harri5 Alld¥y Cliont Income Al¢ 988,316 33,911 4,163 903,251 60,1e1 3,506 Current Asset¥ Lloyds Bank Current Account 44,71 S 1,071,10S 97,082 1,064,000 The flnanclal statements on pages 1 to 6 wère approved by the Trustees on qoctga TNstee:............. Trustee: .....
Page 7 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LEIGH EDUCATIONAL FOUNDATION I rewrt ts the charity trustees on my examination of the accounts of the charlty for the year ended 31 Decernber 2024 which are set out on the preceding pages. R8sponsibilitie$ and bagls of report As th8 charity's trustees you are re3pon8ib18 for th8 preparaticn of the accounts in accordanGe with the requiremènts of the Charitl8s Act 2011 ('the Act,). I rewrt In respect of my èxamlnallon ol the charity's accoun18 Carried out under section 145 of the Act and in earrying out my examlnation I have follow8d all the applicable Direction8 given by the Charty Commission under section 145(5)(b) of th8 Act. Independent examlnerfs statèmènt I have Completed my examlnalion. I conflftm that no mal@al matt8rs have come to my attèntion in connection with thg examinatlon givlng me uuse to bellevé that in any Matérlal respect: 1, a¢UntIng records were not kepl In respect of the Charlty as rèqulred by sectlon 130 of the Act; or 2, the acccunts do not aGGord with those records, I have no concerns and have come across no other matters in connection with the gxamination to which 4ttention should be drawn in this report in order to enable a proper understanding of Ihe a¢Vts to be re8Ghed. W8nd8 Ann Hubbard FCCA Burgis & Bullock 23-25 Waterloo Place, Learninglon Spa CV32 SLA Dat•:........................................