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 preparI￿g 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 COnn￿li0n 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