RISLEY EDUCATIONAL FOUNDATION ANNUAL REPORT AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 ARI 7027211
RISLEY EDUCATIONAL FOUNDATION TRU TEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Managing Ctsmmitte¢ pre5¢nt their report and financial statements for the year ended 31 March 2024. The financial statements have beell prepared in a¢¢ordance with the accounting policies set out in note I to the accounts and Comply with the Charity'5 trust deed. the Charities Act 201 l and Accounting and Reporting by Charities.. Statement of Recominended Practice applicable to charities preparing their accounts in a¢cordan¢e with the Fiiiancial Reporting StandgTd applicable in Ihe UK and Republic of Ireland effective 151 January 2019. Tlie Foundation administers two Charities. They operate s£hem¢s set out in the do¢ument N54 (Sl, Sealed on 3 March 1981. The number of the scheme is L4 627,703 PT. 111 Cliarlt No. l Ob eetives ani58tio nd Activitie The Cl)arity is regulated by a Scheme made by the Board of Education on 15 May 1914. 11 is called the Risley Educational Foundaiion and its objectives are to administer the PToperties owned by the Trust, and to administer the funds of the Trust., to make grants io individual young people. to make grants to schools for educational purposes noi provided by the Lo¢al Education Authority and to make grants to Church of England Sunday Schools in the area of benefit of the Trust. Th¢ Charity's main objectives are... Promoting instruction in Church of England doctrines. Provision of special benefits foi. schools within the area of benefit. Provisioii of graiits for further educaiion. assisiance in purcliase of books or equipment, assi5tante with educational travel. help in study of music and other arts and promoting social and physi¢al trainin8 Within the pari5he5 of Breaston, Cliurch Wilne, and Dale Abbey. There i5 one employee employed as a clerk to the Charity, Mrs E Warren who Currently receive5 an annual stipend of £3,000 per annuin, The Trustee5 meel at least every quarter and at such other time5 that their business requires it. They consider individual applications for grdll15 and ensure that the requiTements of the Charily Coinmis5ion as S¢t out in tlie scheme are fully met. They inspeei the properties and land owned by the Trust and aim to maintain them in good order. New Trusiees undergo an induction to eiisure they have a good background knowledge of the cliarity and of the day to day procedure and that their responsibilities are clearly understood. Chari No. 2 is also regulated by the Scheme. 11 requires the payment of o fIx¢d suin, £15J.85 to &uginent the stipend of the liicumbent of tlie Parish of Ri51ey. The payment of this sum 15 thc responsibility of the Trustees of Charity No. l. Publie Benefit The trustces confimi thai the Charity's activities are widespread in the community and confirm ihey have complied with their duties under section 4 of the 2006 Charity Act with regard to public benefit. Review ofAchicvements and Performance During the past year the Trustees have made grants to ihe six schools in the area of benefit for the instruction of their pupils in music totalling £21.019 (The grant to Friesland School totalled £11.352. the grdnt to Firfield School totalled £3,608. the grant to Cloudside Academy totalled £2.379 and the other three grants were less than £2,000 each). They have Inade five gt2nts to Sunday Schools in the area of benefit totalling £4.201 and they have made eighty-one individual grants io young people undei. the age of 25 totalling £64,800. Thi5 year the grant to individuals was £800 each grant application. They maintain a progTamme of repairs on the houses they own and through th¢ir propeity ag¢nts, Northwood Nottingham have increased the rejit on tliese prop¢rtie5 Wlth a Tolling in¢Tea5¢ to be made on l January each year. They have also employed tlie services of a land agent, Miller and Miller, to 35sesS the btsundaries and value of the agricultural land that they own and rent. They liave also employed il)e services of a firn) of solicitOTS. Freeths LLP to update the charity scheme. They will contlDue actively to inciease the number of grants they Inake to individuals as well as to review the grants made to local schools. Page I
RISLEY EDUCATIONAL FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024-CONTINUED Financial Review Tl)e Trust is reliallt on the incom¢ from its investments, the income of whi¢h was £101,061 Thi5 facilitated a continued level of charitable activity, with £87,041 spent on charitable activitie5 in th¢ form of grant fi]nding to academic schools. Sunday schools and individual scholarships in accoidance with the Constitution. in The atta¢hed financial statements show the state of finances which the Twstees consider to be sound. r8lltmakin Polic In accordanc¢ with th¢ Trust Scheme the Trusrees can make grants to a maximum of 50/0 of incojne to Sunday Schools in the area of ben¢fit, 25010 of Income to schools in the area of benefit and the balan¢¢ to individuals who satisfy the criteria of the 5cheTne, in the area of benefit. Grants have been awarded as described above. Reservt5 Polic The trust aiins to hold an adequate level of reserve5 to enable l) A prograinme of planned maintenance on the properties il owns. 2) Make necessary improveEnents to the propertie5. 3) Protect agai115t declines or interruption5 to incotne. 4) Provide for fluctuations in income or expenditure. At present the level of reserves held are adequate for the pury>oses detailed. Investment Polic The land and buildings owned by p¢rman¢nt endowinent are the Charity's major investment. The buildings are maintained to a high standard to rnaximise the total retum on these assets. Medium tern) funds are held with COEF and Charifund. These are reviewed regularly. The objectives ofthe investment policy are to ensure that as5¢ts are 5Ultably invested to sustain good returns in tile cuiiEnt m?Tket 51tuation. This year's perforniance reflected mart(et ¢onditlOll5 orjd was considered to be sat15factory by the trustees. REFERENCE AND ADMINISTRATIVE INFORMATION Struttllr Gov¢rn8nce and Mana ement The mernbers of the Managing Committee duj'ing the year and their appointing bodies, where appropriate, were.'- Ex-officio Trustee5 ermanent a ointments Rev P Selby Rector of Stanton by Dale with Dale Abbey and Risley Rev C STnedley Rector of Wilne- Draycoti with Breasion. Rev O Trelenberg Rector of Sandiacre Page 2
RISLEY EDUCA TIONAL FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024- CONTINUED Nominative Tru5tee5 ointed for four egrs Due for re-a ointrnent Mr M O'Neill Ri51ey P C March 2025 Mrs V Clare Draycott & Church Wilne P C MaTch 2025 Mr P Harvey Stanton by Dale March 2023 Mr W MAjor Sandiacre P C March 2027 Mrs P Ancliff Risley P C Mar¢h 2027 Co-o tativt Trustces oirtted for five ear5 Mr R Jones-chairperson March 2024 Secreta Mrs E Warren Responsible for day to day running of the charity The Chairman is elected annually by the Trustees from their nltmber at the Annual General Meeting,. The Charity's address is 5 Manor Court, Breaston, Derbyshire, DE7 3AW The Charity's Custodian Trust¢¢ is the Charity C(Trrnmi5sion. Banker5 NatWe5t Bank PLC, 51 Market Plate, Long Eaton. NottinghaTH. Inde endent Examiner Alexander Butterfield ACA, Hain¢5 Watt5 Chart¢red Awoyntants, Cliff¢ Hill House, 22-26 Nottingham Road, Stapleford, Nottinoham NG9 8AA. Governln Doeuments The Chariry is gov¢rned by its Trust D¢¢d, which was established on 3 MaTch 1981 and amended on 6 May 1984. The charitable objects are'.- Promoting instructions in the Church of England Doctrines. Promotion of special benefits for schools within the ale2 of benefit. Prov2sion of grants foi. further educ2tion. ass15tance in the purchase of books or equipment. assistance with ¢ducational travel, help in swdy of Inusic and oiher arts. and promoting social and physical training, in the pari5h¢5 of Brea5ton, Cliurch Wilne, Dale Abbey. Draycot¢ Hopwell, Risley, Sandiaci'e and Stanton by Dal¢. Linked Charlt Charity of the Incumbent {702720-1) whose objectives are to augment the stipend of the in¢umbent for the lime being of the e¢cl¢siastical parish of All SaiTtt5, Risley. Page 3
Rl LEY ED ATI NAL FO NDATI TRUSTEES. REPORT FOR THE YEAR ENDED31 MARCH 2024- CONTINUED Trustee A ointment 8nd Tr9inin The trustees have 5Erved for 8 considerable period of time not only wsth this Charity but are also involved with other Charities as diTettors and trustee5 and arc familiar with the practical work of thi5 charity and their responsibilities a5 rrustees. Risk Mfina ement The Trustees have assessed the Inajor risk5 to which the CliarÈty is exposed, in particular those related to th¢ operations and finances of the Trust, and are satisfied that systeTnS are in place to mitigate their exposure to the major risks. PIAIIS for the Year 2024125 Continue to keep properties and land in good OTder at Latin House, School House, Latin Cottage and School. Continue io advertise the grants available to students. Working with their solicitors, the TTUStees are to esthblish the current whereabouts of th¢ property deeds and land borders. To rewrit¢ thc 1981 Charity Cli2rt¢r. To appoint a hew agricultUTal tenant to land recently vat21ed due io the death of its existing tenani. To consider the removal of a re5tri¢ted covenant on land for sale. STA TEMENT OF TRUSTEES, RESPOJYSIBILITIES The Trustees are responsible for preparing the Report of the Trustees and the financial statement5 in a¢¢ordance with applicable law and United Kiiigdoni Generally Accepted Accounting Practice. The law applicable to charities in England and Wales, thc ChaTlti¢s Act 2011, Charity {Accounts and Reports) R¢gulaiions and the provision of the Trust Deed requii'e the Trustees to prepare financial siatemenrs for each financial ycar which give a true and fair view of the state of affairs of the Char2ty and of the incoming resources and application of r¢50urces, includit3g the in¢om¢ and expenditur¢ of th¢ Charity for the financial year. In preparIg those financial statements, the Trustees are required to.. Select suitable accounting polici¢s and apply ih¢En consistently. Observe the m¢thod and priiiciples in the Charities SORP; Make judgements and estimates that are reasonabSe and prudent. Prepare ihe financial statements on the going concern basis unles5 it Is inappropriate to presume that the Charity will continue in operation. and Prepare the financial statements in accordance with applicable law and UK G¢nerally Accepted Accounting Practice. The Trustees are responsible for maintaining the proper accounting rKgrds which disclose with reasonable accuracy at ally tiine the financial position of the Cliarity and to enable th¢m to ensure that the financial statements comply with the Charities Act 201 l. They are also responsible for 5afeguardiiig the assets of the Charity and hence for taking reasonable Steps for di¢ prevention and detection of fTaud and otheT in'eguliirlties. Page 4
RISLEY EDUCATIONAL FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024- ONTINUED This report has been prepared in accordance with the Statement of Recomtnended Praeiice,. Accounting and Repoiling by Charities. On behalf of the Trustees Dale Page 5
INDEPENDENT EXAMINER, REP RTT THE TR TEE RISLEY EDUCATIONAL FOUNDATION I report to the Trustees on my examination of the accounts of the Risley Education Foundation (The Trust) for the year ended 31 March 2024. Responsibilities and BASIS of Report As the Charity Trustees of the Trust you are responsible for the preparatEon of the accounts in &ccordance with the requirements gf the Charities Act 2011 I'the Acr,). I report ill respect of my examination of the Trust's accounts carried out under section 145 of the 201 l Act and in tarryirtg ollt my examination I havc followed all the applicable directions given by the Chariry Commission under section 145(5)Ib) of ihc A¢t. Independent Examiner'5 StAtement I have compleied Lny examination. I confirm that no mateTial matters have come to my attention ITr connection with the examinaiion giving me cause to b¢li¢v¢ that in any material r¢spe¢t'.- l) Accounting records were not kept in i'esp¢ci of the Trust as required by section 130 of the Act. or 2) The accounts do not accord with those records,. or 3) The accounts do not fOEnply with th¢ appli¢8ble requirements ¢oncerning the form and content of accounts Set out in the Chai'ities (Accounis and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair vaew, wliich i5 not a inatt¢i' considered as part oran independent examination. I hav¢ no conceiiis and have coine across no other matter5 iiJ COnnli0n with the ¢xaniination to which attention should be drawn in Iliis report in Order io enable a proper understanding of tli¢ accoui)ts to be reached. Alexander Butterfield ACA Haines Watts Chartered Acctsuntants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA Daied .yJ..o F/ JoL<fr.... ... Page 6
RISLEY EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 202 Yearlo 31 March 2024 Yearto 31 Mxreh 2023 Permanent Unrestricted EndowEnent PermAnent Unrestrleted Endown]ent Totll Total INCOME INVESTMENT IN OME Investments on UK Stock Exchange COIF Income Shares Cl)arifund 6.843 6,843 6.843 6,843 Other UK Investments Natwest - Deposit Account National Savings Bank Charities Deposit Fund 1.026 1,026 431 38 INCOME FROM CHARITABLE ACTIVITIES Rents Recerved from UK Inve5trnent Properli¢5 Ockbrook Land Sandiacie Land Ockbrook Land Long Claiv50n Land Long Claw50n Land School House & Land Latin Cotlage Latin House Schoolroom Paddock 1,000 740 196 15.454 2,600 27,000 12,600 17,100 1,000 740 196 15.454 2,600 27,000 12,600 17,100 1,000 370 196 15,454 2.600 24.600 10.155 14,550 1,000 370 196 15,454 2.600 24,600 10,155 14.550 600 600 420 69,i45 420 Other Inci)rne Ex Willoughby Charity Wayleaves 2,084 79 229 2,084 79 229 6,313 153 229 6,313 153 229 TOTAL INCOME 101061 92.571 Page 7
RI LEY ATI NA NDATI STATEMENT OF FIP4ANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Year to 31 M#rcli 2024 Year to JI March 2023 Permanent Unrestricted Endowment Permanent Unrestricted Endowment Total Total TOTAL INCOME BALANCE BIF 9.781 91,280 101,061 9,444 83,127 92,571 EXPENDITURE Charitable Actlvities- General Expenditure Grants and Donations 21,112 Sunday Schools 4.202 Risl¢y Lower Grammar School ScholarshÈps and Grant Charity for the Incumbent 4,490 3,631 4.490 3,631 4,202 61,648 79 61,648 79 87,041 04,447 154 64,447 154 Charit&ble Aetivitie5- Property ExpendItre Insurance 20,651 Electriciiy/WaterICleanin Gas 309 Repairs- Houses and Cottage 14,257 Legal and Estate Agents Letttng Fces 20.651 309 14.257 19,892 261 3,448 19,892 261 3,448 5,550 29.151 40.524 Support C05t$ Clerk's Stipend Telepl)one, Postage aiid Stationery Ac¢ountanLy Leoal Fees Mistellaneous 3,000 754 1,440 12.677 3,000 754 1,440 12,677 3,000 394 1,440 5,197 2,087 3.000 1.440 5.197 2.087 TOTAL RESOURCES EXPENDED 149.043 {139.262) 149 043 91.280 {47,9821 113 991 (104,547} 113 991 83,127 {21,420) Deduetl(Add) (Lossesyunrealised Gains on Investment Assets 22,186 17.377 P4ET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR {139,262) 113,466 125,796} {104,547) 65,750 (38,797) GROSS TRANSFERS BETWEEN FUNDS 83,127 NET MOVEMENT IN FUNDS (47,9821 22,186 125.796) (21,420) (17,377) (38,797) RECONCILIATION OF FUNDS Fund Balance5 brought fonvard at l April 2023 280 559 601682 882241 301979 619059 921038 FUND BALANCES CARRIED FORWARD AT 31 MARCH 2024 232 577 623 868 856 445 280 559 601,682 882241 Page 8
RISLEY DU ATIONAL FOUNDATION BALAN ET AS AT 31 MARCH 2024 2024 2023 Perrnanent Ed0ment Notes Unrestricted Total Total INVESTMENTS: Fre¢hold LAnd and Buildin Land at Long Clawson Land at Hose Land at Sandiacre Land at Ockbrook Latin House Latin Cottau¢ School House 28,000 68,000 12,500 7,500 43.250 26,000 28,000 68,000 12,500 7.500 43,250 26.000 35,000 220.250 28,000 68,000 12,500 7.500 43.250 26.000 35.000 220 250 220 250 OTHER INVESTMCI NTS (At 31 March 202i Valuation) COIF Income Shares COIF Accumulation Shares charlnd 12,56102 101.00 8,310.00 256.654 25.964 121000 403618 256,654 25,964 121,000 403618 235,063 2),118 123,251 381432 CURREINT ASSETS Bank Curr¢nt Account Bank Business Reserve Accounts National Saving5 Accounts Chariiy Deposit Account Dcbtors and Prepayments Cash in Hand 200 49,467 40,552 137,244 7,727 50 235 240 200 49.467 40,552 137,244 7,727 50 235240 200 96,025 40.552 130.881 15,454 50 283 162 LIABILITIES.. Amount5 fxllin due withiii one Creditor5 and Accrkjals ear NET CURRENT ASSETS 232.577 232 577 280 559 TOTAL NET ASSETS 232 577 623 868 £ 856 445 £ 882 241 UNDS OF THE CHARITY Permanent Endowment Funds Uiirestricted Income Funds TAL HAR TY FUNDS 623,868 623,868 601,682 232 577 280,559 856,445 £ 882,241 232 577 232 577 623 868 £ Chairp rson - Mr R Jones For and on behalf of the Managing Committee Dated Page 9
RISLEY EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies The financial Statements have been prepared in accordance with the Church Accounting Regulations 2006 together with Statement of Recommended Practice.. Accounting and Reponing by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 effective I, Januaty 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102) and Charities Act 201 l. A55ets and liabilitses are initially recogni5ed at historical c05t or transaction value unless oiheNise stated in the relevant accounting policy note. The charity constitutes a public benefit entiry as defined by FRS102. The Tru5tees' consider that ihere are no material uncertainties about the charity's ability to continue as a going ¢oncern. IncoTne Thi5 15 a¢¢ounted foT on a receivable purpose in the peTiod to wl)ich it relai¢s. b) vestment COIF income and a¢¢umulation shaTes aTe valued at the mid-pri¢e on 31 March 2024 and the Charifund Units at their bid prsre on 31 Mah 2024. Grants Pa a Details of bFran(5 are shown in the Trustees, R¢port. dl Unrealised Gains and L Unrealised gains and losses on revaluation of investinent assets are included in the Statement of Financial Activsties. Interest Rec¢ivabl¢ Interest on funds h¢ld on d¢p05lt is included when receivable and the amount can be received reliably by the charity,. tliis is norinally upoii notifi¢atlgn of the interest paid or payable by the bank. Resources Expended Expenditure is recognised on accrual basis as a liability is Incu¢d. Expcnd2ture include5 any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiariE5. It ineludts both costs that can be allocated directly to such a¢tivities and those costs of an indirect nature nece55ary to 5UPPOrt them. Support cost5 includ¢ thos¢ costs a5$0Clated with meeting the constitutional and statutory requirement5 of tl)e charity and include (he audit fees and costs linked to the strategic management of th¢ ch'ity. All eosis are allocated between th¢ expendilur¢ categories of the SOFT on a basis designed to r¢fl¢ct the use of the resource. Costs relating to a parti¢ular a¢tiV2ty are allocated directly. others are apportiojied on an appropriate basis. Tangible Fixed Assets All fixed assets are capiialised at cost, where considered appropriate to capitali5¢. Those purchased by Specific gifts and grants have been wi'itten off fully in the yedr of gift. Depreciation is provided at the following annual Tate5 in ord¢T to write off ¢ach asset over it5 estimated useful lif¢'. Freehold Land and Building No charge for d¢preriation (included as investment propertses} No depreciation is Gharged on land and buildings as the residual value 15 believed to be higher than historical cost. Page 10
RISLEY EDUCATIONAL FOUNDATION NOTF.S TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024- CONTINUED Debtors Debiors are recognised at the Settlement amount owed to the Charity or prepaid. Creditor5 Creditor5 and provisions are recognised where the Charity has a present obligation resulting from a past eveni that will probably result in th¢ transfer of funds to a third party, and the amount due to settle the obligalion can be measured or estimated reliably. Creditors and provisions are nortnally r¢cognised at their seiilement amount. Flnanclal Instruments The Chariry has financial assets and financial liabilities of a kind that qualify as basic financial in5trutnents. Basic financial instruments are initially iecognised at transaction value and subsequently measured at dieir settleinent value. Investments Listed investments held as current asseis are revalued throughout the y¢ar at mid-jnarket value at the balance slieet date ai?d the gain or loss on revaluation and disposals taken to the Stat¢m¢nt of Financaal Activities. Judgement and Key Sources of Estimation Uncertainty The preparation of accounts using generally accepted accounting prin¢iple5 requsres management to make estimates and assumption5 that affect the reported amounts of assets and liabilities at the date of the accounts and the reptsrted arnounts of revenues and expenses dui'ing the reporting period. Th¢ key estimate$ and 85SUtnptions used in the Financial Statements are detailed in tl?e accounting polieie5. Summary ofNet Asset5 by Funds Original lands and investments endowed to the foundation are pennanently endowed funds, however the incom¢ arising is unrcstricted for the pursuanc¢ of thc Charity'5 objects. Aecountaney Charges Independent Exarninatitsn following accounts preparation £1,50012023.. £1,440). The Charity employs one Clerk who is involved in the management and administi'atlOD of the Charity. Total gross stipend amounted 10 £3,000 {2023'. £i.000). Mileage and expenses reimbursed during the year io ihe Clerk iotalled £nil (2023.. £nil). There are no employees eaming rnore than £60,000. Trustee Expenses ani5 Related Parties Neither Trustees nor any person connected with them has received or 15 due to Teceive any expenses or rernuneraiion for the year either directly or indirectly from the Charity's funds. TheTe are i)0 other related pany disclosures Pag¢ll
LEY ED ATIONAL FOUNDATION NOTES TO THE A R ENDED 31 MARCH 2024- CONTJNUE Freehold Interest in Land & Buildings The Fi'eehold Land and Buildings shown at the 31 March 1991 valuation of £220,250 constitute a55et5 held by the charity to geiierate rental income. No value l)as ever been placed on land and buildings known a5 tlie English School and a bu)ding known as Latin S¢liool as their use is r¢stricted to educatronal purposes and a minimal rental incoine 15 received. In any event all tl)ese a55ets are lield as pennanently ei]dowed funds. li is the opinion of the TrLSStees that the current value 15 in excess of that figure. The Trustees do not consider the expense of revaluing the Freehold Land and Buildings to be justified given the restrictions on the use. and have therefore used the transitional provision of FRS102 to de¢m the 31 March 1991 value cost. Change in investments during the year are as follows: Permanent Endowmellt 2024 20 Investrnents listed on a reco nised Stock xchan Markct value at beginning of year Add Id¢duct) net gainl(105s) on revaluation Market value at thc ¢nd of the year 381.432 22.186 403618 £ 398,809 381.432 Debtors and Prepayments (unrestricted) 2024 2023 Rents Due 15,454 Liabilities: Amounts falling due within one yesr (unre5trieted) 2024 2023 Creditor5 Included within creditors is a holding account for rental deposits which are held in a separate bank account. At 31 March 2024, this amounted to £667 (2023: £667). io. Funds Unrestricted funds: Comprise those lunds which the tTUSt¢¢5 ue free to use in accordance with the charitable obj¢cts. P¢rrnanent Endowment fund5: Represent th05¢ ass¢ts which rn5t be held pemianently by the charity, principally buildings and investmcnts. Incoine ai'ising on the ¢ndowment fund can be used in accordance with the objects of the charity and is transferred to unrestTiCted incorne. Any capÈtal gains or 1055es arising on the investments fomi part of the fund. Capital Cornmitrnent5 All the property repairs which had been planned and committed to in th¢ y¢ar wer¢ completed at the year end. Page 12
ISLEY EDUCATIONAL FOUNDATION NOTES TO THE A TS FOR THE YEAR Ef4DED 31 MARCH 2024- CONTINUE 12. Charit%hble Activities- General Espenditure And Rental Expenditure During the past year the Trustee5 hav¢ made grants to th¢ six whools in th¢ area of benefit for the instruction of their pupils in music totalling £21.019 {The grant to Frie51and School totalled £1 1,352, the grant to Firfield School totalled £3,608, tl)e grant to Cloudside Academy totalled £2,379 atjd the othei. tliree grants were less than £2,000 each). They liavc made five grants io Sunday Schools in the area of benefit tolalling £4.201 and they have made eighty-one individual grants to young people under the age of 25 totalling £64,800. This year the grant to individuals was £800 each grant application. They maintain a progTamme of repairs on the house5 they own and through their property agents, Nonhwood Nottinoham have increased tlie nt on th¢5¢ properties With a rollFng increase to be Tnade on I lanuary each year. They have also employed the servi¢e5 of a land agent, Miller and MilleT. to 85S¢SS the boundaries and value of the agricultural land that they own and Tent. Th¢y havc also employed the services of a finn of solicitors, FFeoth5 LLP to update the charity scheme. They will continue actively to increase the number of grdnts they make to individua15 as w¢ll as to review the grants made to local schools. 13. TTan5fer between Funds Transfers between funds represent the movement on the peTmanent endowment fund in tlie year being transferred to the unrestricted fund. Page 13