REGISTERED (..01PAN1' NUMBER: 02448785 (Englan(l ai)d Il'ales) REGISTERED CHARITI, NIINIBER: 802188 Report of the Trustees and Fi114?llciiil .Siatenienls for the Year Tr:nded 315t fvlgrch 2024 (or The Loddoi) Foiiii(lalion Ltd
The Loddon Foundation Ltd Contents of the Fiiiaiicial Slalenients (or the I'eA)r Ln<le(13 Isl N.IArch 2024 Pa¥e Report of the Triistees Report of tlie IJ)clei)endent Au(litors Stiiteiiieiit of Fin#nei#l Activities 16 Baliinct Sheet C#$h Flow Stiilenient 18 Notes to the C.'Msl) Tr"loiv %tatemeiit Notes lo tho fi in#ni iiil St#teJnents 20 10 31 Detyiled .Stulenieiit of *"inAncial Actii'ities 32 to 33
The Lo(Idon Foui)d.qlion Ltd Reporl of the Ti-ustees for the Year Ended 31st Nlareh 2024 I'he Tru.qte¢s ol- The Luddon Fouiidation l.td prLscnt tlieir aiiiiiial reporl <ind 11udilcd a¢¢oiinls lor thc ye41r ei)ded 31 MarLII 2024 ¢ind uonl Irm tl)al they coinply witli tlie rciiiiireinenis ol- the Cl)ariliLs Act 201 I, as 11 11)endLd by the C.oinpaiiies Aul 2006: th¢ Memoi'andum ancl Articles ol. ASSOCiiltioii an(1 ihc (-hcirities Staleilleiil of KL'¥omtnL'iided Pr(ILlici' (SORP) (FRS102) 2019. Striicture, Governance Managemenl Governing Document The l.oddoii Fulindcltion is a comp<illy liniile(I by giiarll iiiee ¢ll)d governLd by its fvleinorandiiin i( lid Articles of Associiilion dated 4 1)eceinber 1989, as anicnded on 8 Jiine 2013. It is regislercd 415 a Charity willi tlie Ch¢irily Coininissioners. -Ihe niciiibers have agi'eed to coiili'ibllte a m1< XIIIILin) of £ 100 each iii the eveiil of Ihc Coinpaiiy wiiidii)g lip. Tl)e Iiiiniber of meinbers is Liiiliinilod. l-1)e Compclliy Directors ai'c 4ilso Ti'uslc¢'s of the c.harity and Govei'iiors uf Ilic scliool. Appointment of I'rustees li lias <ilwa)'s beeii Ilie pulicy that ¢111 ni¢n)bei's are 'l-riislees, Directoi's aiid Goveriiors ot the sclio()l -I'l)ere lire iiu oilier Direcl()rs, TrLislees 01- Governors . All Ilie Dii'eLlors, -l-I'uslees <in(I goveriic)rs l)eiiLclortl) <1re I'elerred i(1 1( s Ti'iislee%i 415 delaile(I oil Ilie refcreiice 4Triid admiiiislralive delai15, sei'ved IhroiiglioLiI Ilie yC1< r unless oili¢rwisc staled. Tlie Board l)as pO.C1. lo appoii)l addili()Il<il TriisieLS it il Loi)siders fil lo do so. NLIV Triisle¢'s 1<1'e sclccted based on their spevialist kno¥vlLdge e.g. leachiiig, Lai'e. financial, legal, IT, iiiedical ¢xpenisi,¥XPLrieiice willi childreii and 41(liilis iviih sev¢rL challL'I)ging beliavioiir iin(I IL¢1rning dirri¢iiliiLS. Ti'L151e¢s ar¢ rLLriiiled Il)I'OLibh lielivoi'kinbi of ¢iirr¢iil 'l'i'iislecs %lnd thL' 1iiler41¢1ioiis the Chill'ily h11 s with Il)¢ Ioccil ¢omiMiiiiily. 'fivo Iriisl¥es h4ive I'e5ignL'(I t'roni Ilie Lh<irily Iliis yecif? Iiiid ivL have ¥¥'elcoincd thri¢ mvrL. Trustee liidiiction An(1 I'raining Prospeciivc 'l-r1151ees £irc ii)vil¢d lo visit the Siliool, wl)ere IIILY can meet kcy eillpli)yees, IhL cliildi'cii 1¢ lid oilier I'1'Lisi¢es. )1'()5pcclive Trustees are providL.d ¥%'iil) inl()1'1111¢ lii)111<1)(>LiI Ilie pliilosDphy ol. IhL C.l)arily alviigj ¥%'ith delc)i15 aboiil Il)e clLCI'eililcd Ir<iiliili&l il)<il is delivered iialioiiiilly lind pi'on)Olc'5 Ilie i)liilc)sopliy iiiid iipproaLhLs of IliL ('.l)i¢ rily. Tl)c 'l'riistecs l)ave c)ii-uioiiibi Irilillil)g', aiid reeeivc adclilioiiiil iiilvrn)alii)ii ivhi¢h 15 cirL'iilillcd 475 IlViiilc?ble fi'uin Il)c ('.liaril}' ("oiniiiissioii. TrLisices ari. iiiviled i() alleiid Irainii)& deliv¢red by Loddi)i) Trainiiig IIIL exlLri)al Ir<iiiiiiig divisioii ol. Il)e c1)rIty. T1i05¢ i¥'ho do allcild lii)d Ilicse sessions Inc)sl Li8efLII. TriislL¢s Ineei Laili year Nviil) the %vhole senior ieain lo enga&FQ in Il)L annual StralLgyjc l)laniiiiig proLess. Orgiinis#tion 'I'he Boai'd of Ti'ii8te15. Ivhicli i))IlSl coiiiprise Df 47 mininiiiiii of .1 i)i¢inbci's, &l(ImiiiisiLrs IhL. Ch4iril}' InLcl cil li. ye411'. Tl)i 'l'riistees fliifil Ilie rolc of IliL. I)I'opi'ielori1¢ l Bncly lor IhL' Scliool ic n<1 (Il'c SLibjccl lo reg7islrcilioii b), Ofsled, Tlie B()11 rd of Tru.slees li¢ive l)(Id it) pliice foiir siibci)miiiilt¢es lo facililclte their oiigoiiibj 01'L. These siibconiijiitlees, aloiig 'ith tl)Lir k-ey respoiisibililics <1re'. innnee, H R, Esti?tes An(1 IT F.iisiirL II)iTrl bLidgetS 1( re dLvcloped ciiid Inoniloreil: .Qpprove iiivesli))ei)I propiisc11s; Nloiiilor Ilie t£iLililies probFI'(11))S £iiid He41111141iid Salely: Li)siire tli<11 Ilie ('l)aril)' Lllectivel). 1111¢ 1)agLS £ll)d reii¢1rds slcill.: ¢lnd .4dvi5L on develoiiing tli¢ 11. siriilegj for tlie SLI)ool. Philosopliyi Eiliicatioi), C.'Are And Tj-ainiiig F.nsiire Ihal IhL Q.haritV iiilaii)s ils foLii.s 01) tlie iinclLI'l)'ing philosoph! of i)osilivL' approciilii's; Nlonitor the ciii'i'iciila iisiil witl)in the L hdi'itj to ensiii'e Ih4it IheN' al'e Ic ligFnLd to IIIL pliilosopli>' <iiicI api)roaches of PROACT.SCllJr-IIK@': I lid L-I)SLirii)g ihe Schoiil kLCPS the .8tiiilenls ii-iihiii 115 ¢Lire S¢ife 1< lid coiiiplies iviih Il)¢ l-Llcvai)t Scltegii<irdiiig Le¥)isl¢l1ioii
The Lo(Idon Foundation Ltd Rei>ort of the Triistees for the YeAr Ended 3 Ist1¥l%rch 2024 Loildon"I'raining (LT) l Traiiiing OutreAcl) ProN'ide Strategic direclioi) lo Loddoii Tr¥1il)ing sucli that the Pliilusophi¢s of the 5cliool, Ilie PLLllSS @ LLirri¢iiluiT) and praLtical l< pplicic tioii of PRO,4C'T-S(.'IPr-lJK@ is spread as ividely IliroiighoLlt IliL IJK aq possiblL,' ar)d C)vei'see th¢ riinninb ol. IIIL OLilr¢'ii¢l) progr<lmm¢ ivhicl) is siippoi.ls l¢a¢liei'.£ 11 lid schools ivhu speci<ilise in 5P¢Cii¢ I e(Iiicalion nL¢ds in th¢. UK. Governnnee #nd Qiiiilit). lanagement Ricrllltinenl, tric iiiing aiid nioiiiloring uf 'l-rii.8tees' Rewiem, oft- governRnce dociiinenls lo eiisiire ihclt they are lip to dale,. Review of tli¢ 5cliools' Qii<ilil}' Maiiageineiit System <1nd ensur¢ compliaiice iviih ISO 9001. aiid laiiilaii) the Trlislees Risk Ilc'gi51er. "riii -1 riistccs ivork closely iviili Il)e Chill'ily Lc41dersl)ip I'L'¢ini, via Ihe SLibcoinniitl¢es. to en.siire Il)at th¢ ¢iiliiS aild objectiv¢ ot. Ilie ('harilyi s agreed by ilie TrLlStccs, are inipleineiilecl thiougli Ihe orgaiiisalion. Tlic Cli1¢ rily Leadership Teilln Ilirreiiily coinprises Il)e LL)ddoii Scl)i)ol Pi'iii¥ipal, Ilie Direclnr ol. Loddi)ii Tr£iiiiiiig, ViLe PI'iiiLlI)al (Registered Carc Managjer), He4ld ol- Finance ai)d C.'OllllJl< iiy Sccrelary aiid Ili¢ Dir¢¥tor of FILiiiian Resoiirces. The I'einaii)ii)g siall. are eii)plL)yed in Il)e S¢l)ool lo provide Lar¢, ediicalion. Ii'ainii)&. support or as Ii'aiiiers toi. Lodduii Trainiiig. 'I'he Loddoi) Fo(Iiiddti¢)ii is ii()I dLPLiideiii iipon Ihe scrvice ol. 111)paid voliinlLLrs. Tlie C.l)¢irity l.eiidersliip 'Teiini form¢ill)' rcport lo Ihe l-l'iisiees al the regyiil¢ll' Ti-lislees, meelii)gs bill ¢ilso meet i¥'iih sin(Illei' gr()LIP5 of'i'i'iisiecs lo disciiss Oli-gJDjI)gJ niiltl¢r5 <iiid lo sh1< I'e iiilorinic lioii, lis iieeded. Tl)e I'1'iist¢C5 Jllend e.e5)I.5 diiriiig Ilie ye¢ll' 111 Ni'liich childi'en aiid P£ireiils Ii'()i)i ihe School l¢ikc i)i)rty illl(1 visit Ilie SLI)cTrol beliveeii i)ILcliiigis. 'I'lie}' ulleiid soiii¢ i)l-Ihe Ir<iil)iiigi e¥'Liils prL5ciiled by l.,i)diti)i) -l-iiiiiiiigi Éiloiigi Iviili the ¢ll)11(l<il c()iifcr¢iice. Reiiiuiierxtion of Key 111ellienI Personiiel i)iark¢l and Il)0.8e eiiipli))'L'(l iii SpeLi<il Silioi)Is, Resp()i)sibil ily l()r ren)LIIICI'211ioii elscii'liei'e in the Llijc I'lly is Ilele&?alecl i() Ilie ('.liarily IcadLI'sI)ip leaiii ivl)() £ipply Ilie .qai))I i)riiiLiples. Illl <ll)Iioii)IIiiLI)l.% aiid pa), IllLrLases for Iliose Lari)iiigi oi'cr £35,oon per aiiniiii) are appr()¥'td by tli¢ l.'iiian¢e arid 1111 LomiT)illc¥ on l)el)all'of Ihe IrLI.%lees. Relate(I Pnrty RelAlioiishii)$ Thl cli?< rity cover.8 iill the costs ¢lS.%OCl¥ilid with the Ircldeiii¢1rking? Ic l)d 1r.5 M C.oi'i)i¢k MBE ILf¥lV¢S 110 P¢l)'iiieiil foi. Ih¢' IISL Dr (hc li ¢ideiiic11'k. I'hL boai'd i)f -I'i'iiqiecs hic v¥ re,1¢15'¢d this iifi'¢iiigeiiiciil 7¢ nd (ire coiilideiil Ilial iliis coiiliiiiiLs lo be iii th¢ best iiilei'L'sls of the chai'il),. PRO,4C"I'_S('I PI'_UK@ ig the re8lStered Iriiileiiiiirk of fvlrs Nl C,uriiick lBE. Tlie C.l)¢irily iise.s rliis 11.11 IIciiic)rk Lll)dei' Iic¥iicL'. I'lie CIIiL I'itv cover4 all the LOS15 ¢15S()ciated ii'iil) Il)e traileiiiiirkilil jll)d IrS N I Coi'iiiLk lF. reLLIVeS IlQ P47)'nieiil foi. the u.%e i)I' Ihe li iidciii¢irk. 'I'IIL' Boi£ rd ot 'l'rLlStees have revie¥vcd Il)i.q rriiiig?eiiieiil 11 lid Are coiifideiil that this ¢onliiiiiL's 1() be iii Ilie bcsl ii)terests of Ilie Cli¢1rity. Qudlif}'ing Third PA rty Inileniiiil), Prnvisions ol. ils l-I'iislLLs duriiigJ ihL pei'iod. 'Fli¢se iiio¥'isioi)s I'en)clll) iii forLe £lt tlie repoi'iingy date.
The Loddon FounclAtion Lt(I
Report of the Trusttes
for the l'ear Ended 31st fvIArch 2024
SI"RATEGIC: REPORT
Objeclives and Aetivities
Our Ainis
The objects ol- Ihc C.liarity 41re the edLILatioii, Irealmeni and Lar¢ of persons wilh learning di5<1bililies. Iii liddilioii. the C.'hai'ily
lias a l'ange ol- powers ivliiLh inLliid¢ dis.qeiyiinalion vl- good IiracliLL and lo provid¢ Iraiiiing. leciiirLs and ioi)ferenLeS bath
nationally ai)d inlLrndlivn
The Loddon Foundation Lt(I
Report of the Trustees
for the l'ear En<led 3 Isi Nl#i'eh 2024
Our Objectives
Acliievemeiits 4in(I PerforiiiAnLe
Diii'ii)g Ilie year IhL fvlluwiiiL pro&Jress ivas iiiade against the objeLtives sel in Ic1sI y¢ar's aniiiial repor1=
Objertives Set Last I'eol.
Ai hievements
Fiiriher develop oiir oiiti'each Nvork. ofl¢'ring professional Loddon Traii)ing is providing fornial piofessiondl advice
ailvice 4ind siipport
'eclr. F(Ill()INiiig £1 Str<LgJic rLVILlV the ti'iistees li4lve <lPPI'oved plicise 2 of 11 I'ebiiildirig i)rtsgJi-aiii ivl)ich is fiill J. flindeil b). the biiildiiig fiiii(l esl¢1blisliecl in last yLiifs clLcoiin15 <ind thi.% }'ecJrs siii'p1115. '1'hi4 ivill biiild 3 new lioiises i. 'klciple Gr()VL'. 'I'hi5 projccl coiniiiei)ced iii ()clc)ber 2024 l)d is (llie tc) bc conii)leled JanucllTr 2025. The I I'iislccs I'evic¥¥'ed tlie Viiibilit), of keepii)g F. ield Hoiise Bcll'l) as traiiiiiig Centre ii()N¥' th&il M'e iii) loii¥)er hcl¥'e <1 teii&i111 lo sh£lre tlie Losls. li Ma5 deciileLI thic I Il)e best oplii)11 is lo sell <iiid reloclc le Lodd(11) -fr1¢ iiiiiig iii Ic iiiore IPPIOPI'lclte 5ize(I facility. ¢1¥¢ 4
The Lo(Idon Foun(lation Lt(I
Report of the Trustees
roi- the I'egr Ended 3 Ist1I1grclh 2024
The Seliuol
The Scliool is iiispeLled as <1 Clii IdrLii's Home once cl ycar and as (1 Scl)ool every (Iiree years. Tlic School ivas reLoBnised as
'oiitsl<iiiding" foi. its provision in social Larc and Outstr111dinby in L'duLalion diirin¥ tho 1<251 ()fsleil inspe¢lions. There w¢r¥
Inany achievements in the SLhool dLlI'inu? Ihe year whiLh inclLid¥d..
The 8cliool has been M'orking iiiih our project m41nagers Iv coiltiniie lo ph1¢5e 2 of the biiililiiig project Ni'iih the
developmeiil of Wlaple GrOL, Ihrce iiew bLiiigalow5 cind cl village greet) this is diie lo be Lomplcled iii Jaiiiiary 2025.
Acliieved (iold whole scliool ivell-bcing aivard.
Oiic of oiir yoiing perqoiis aw'arded 411) acliievenieiil award Ironi lh¢ Mayor of Basiiig.8toke.
A siiLcessliil Iraiisilioii of 41 youiig pei'soii relui'i)ii)g lioiiie lo Ilie Fkilkland Islands ii'ith 2 mcinbei's of c)Lir S¢liool leaiii
lo Iraiii Ille care stall. Ilial ivill Loi)lii)ue lo look iifier Iiiii) inlo iidulil)c)od.
I'e have eslabli8hed regiil411' Greeii Kl'cck Therapy tLlli d<iyS lor our yoiiiig people ¢ind lo siippori sl<lft iindei'slai)ding
by Inod¢llii)g Sli'al¢b)ies and resoiii'ces.
V¢ liav¢ r¢crLiiled a fiill Tl)ci'apy tean) ii)clLI(linbF Iwo higl)ly skilled ai)d ¢xp¢i'ienc¢d Ihei'apisl, a speech and li( ngiiage
thei'q¢ pisl ai)Il OCCLIPiilioiial Ih¥i%lpisI ivho hils taken on C.lii)i¢l$1 l.ea
The Loddoii Foun(l&tion Ltd Report of the Trustees for Ilie l'ear Ended 3 1st I'cli 2024 The deiiiand tor consiiliancy work Loiiliiiiies to increase ivith the addilioii of requesls to i)rovide support for pareiils aiid rainily carcrs in order tv eiiabl¥ thL p¢rson lo ren)aii) in either the tan)ily honie or IhLir ¢xisting pla¢enienl and acliieve a beiier qucility of life. Oiitreach AdN'ic¢ and siipport is pi'oi'ided 'f<qce to face, to a wider aiidienLe io incliidc paronts 1¢ nd t(2inilies en<1blin¥ tl)c persoii lo maintain a beller qLialily of lif¢. Social fvledia is used as a niechai)isii) for disseii)inaliiig inforn)¢11ion and raisiiig the profile. liiternationxl Work 'e coiiliiilie lo siipp()rt Zaiiibiil tl)roiigh donalioi)s and provide access lu i)iiliiic I'es()urces so 1114?( tliey Ill'c cible lo opeii Il)eir oi%'i) scl)ool tol. Lliildren iviih SPL¢ic11 edLicalioi)al needs. Piibllc Beiiefit -l-l)L 'l-riistLLS Lonfirn) that they hav¢ regard lo Ilie C.lii¢ rily ('.01))n)i8sioi)'s giiidanic on publiL benefil and Iliis is sliown in the r¢'poi'lii)bi of Ilie L'harily's ()bje¢livLs lind 1¢ Lhievein¢iiis. 'I'l)¢s¢ ai'L siiinmi¢ I'iseil bilDw'. I'hL School provides fiill). I'esi(ILiili(I1 plcices for LIP lo 30 ¢liil(IrLn who neL'd L(ILicaiioi) ¢1nd siippot1 lind 4111 slr¢ fiilly fiinded b). local i< IiilioritiLs, with no privulL plÉicL'iiiei)ls. .()dd()i) .1 riiining, provides Iraiiiiiig, l<) scI)ools, resid¢nli¢11, duy scrviLes 11 1111 511ppoiliiig lii'iiibj selliiibjs fruin tl)¢ slaliitory, Pl'iviile oi. volui)li£ ry s¢¢lcir5. '1'lie Ir¢llllil)g is in)portsinl <iiid is in grciil denilc Iiil lind bciiefils cliildreii and clults Nviih 41 widl. rilll&?L ol. iieed.s ¢liid diificLiliies. 'I'lic C.l)arily pl1)'1dcS SLlI)pc)rl l() Pill'LiIIs 4iiid i)rolessiiiiials iieediiib? ¢idvice and siipporl. Loddoi) Tr¢iiniiib pr()vidcs siibsiiliqe(I COLII'SLS lor pareiils ciiid taiiiily carcrs. Siiiff LoiilribiiiL fi'ecly to Iliilioiilll coiilcr¢ii¢es aiid c(111siiliiK lions. The 8Llii)c)l invi1¢s IliL lolal Loiiiiiiuiiily l() sl)are in eveiiÉS 411id observe Ihc ivork. l-l)c C.hai'ily pii)¥'ides eii)plc)yi))ei)l ii l)d ti'aiiiiiig leadiiig Ii) nalioi)al qLialifi¢<l1ioii4. Tli¢ ('liarilJ' sl)ari's ils ¢idvai)Led ki)oivled&yL of aulisin, l¢ariiiiig disabililiL's aiid cliallLiigFii)g bL'havioiiT iviili oll)er proles8ioni115 L.&?. IIIL SI IIP PB% nelivork gri'oiip cll)d oiher online l()riiiiis. 1'h¢ L"hai'ily sh(Iris ils Lxperti%e iviili l()Liil LIis<il)iliiy Ioriiins. aii(l oiliei. Ll)arilies. 1.hc C-h11 l'ily siippoI'IS P%ll'eiilS aii(I fainiliLS and other cliariliL'S Ivilh traiiiing,. Financi¢il Revieiv 'he Lhiiritj. li&lb gCI)cf<ilcd ¢ln iiicre<15e iii ils uiir¢sti'i¢led I.eserc5 of £184,913. Tlie siii'pliis 5 111lc iiil}' geiier(11c'd b}, Ilic ii)N'estn)eiils £319,27() ciiid l.oddoii Traiiiiiig £177,405 iiiifoi'lLllll¢ tel). a deliiil in scho(71 operic tioi)5 01. (£319,47.1) iihicli is dlie Tlie siirplLIS lur Ilie )'car pliis dLprL'cialioii lliive beeii tri& l)sfei'i'¢(I to cl IILSlg)Ililted biiililiiig fiii)d ivliicli tlie Triislees l)1l¥e 1111) lo ¥oiiiplete iii Ihe iiexl leiv )'Lclrs. ,,IIIL'f Lilreliil Loii8ideric li()11 Ilie IriislLLS cipproved ¥<1pil¢il spLI)diiiLI ()f .£.15,ODQ lo ins11c11 solai. panLls 01) tlie siviiiiiiiiiig, puol ivliich lias Li paybabk of. C) years. 'hL principic I SOLifLe of iiieoine tl)is !'eil1' is inveslmeiils, Ihe 1114lj(>l'ii}' of NvhiLh is froiii iiitei'e.%t I'¢Leived. Ive tirL' i)ot IlL'pLnilcnt on donalioi)s whicl) is IL'SS Ili<il I'/'O of oiir totlc l incoi))e for ihe }'ear. ThL' SLhool lee inLoinL hcls l)eeii 4ipplie(I lo piovi(le residential cai'¢ and ediic¢11ion foi. Ihe piipils in Il)e SLliool. We iiicre2c Sed s¢hool tees b}. 5..520i0 loi. exisliii¥ sl(Ideiils pliis a 8 % iiicrelL se on i)eiv stlideiils. Iliei'eli)I'C £111 iiicreci%e iii oiir sclioc)I lee iiicoiiie, oN'crcill Iiiii- iiicc)InL hcls m<ll'L)jl)1c Ily iiicreL2secl by 20 o K¥hich IS Li resiili ol- a rcdLlCtioi) ii) sliideiil iiiinibers Ironi ?9.8 iii 2022-?3 10 29 iii 2023-24.
I'he Loddon Foundation Lt(I Rtport of the Ti'iistees for tlie Year Ended 3 1st Nlareh 2024 Staff ivages aiid salaries 1£ ¥LOUI)I lor 75.10 of the Costs ot. rlinning Ihe foiindalioi). Il'ages diid S<11aries l)ave inLreased Iroi)) last year bj £ 1.0 l Ok hoivLvLf I1&Jeiicy ¢osls111< S £11so dcLrcas¢d by £689k. Tliis is a result of tlie cai"e V<l¢aii¢i¢s rediiiii)g by 500/0 from 2022-2.3. Oiir .£latl- beneliled froiii a 5°/0 PLI}'rise for eiiiplo}'ees earning IL55 Ili4in £32K lind .3010 for einplovees ¢ariiiiig over £32k. Thi5 aVLf4igi.d out (is 40/0 pay inire1c se OVLrall. 'l-hc iliarity h<iS been Ilclltely aivl¢ I'e ol- Ihc prcsslire lo illLrease Sdl¢1ry lo I'imain Lompelitive aiid rediice or care i'acancy (l¢ficil wl)ich has proved siiccessfiil iii 202.1-24. Diirii)g the J'ear the Charity has spei)t £33.770k on C&ipildl invcslinenl. The capiL?l expendillires ii)cliid¢d.. ("isco Switches {£5,854) Ride on lOWe1. (£3.477) Lxlrilctcir l.an (£2,51)6) Indiiclion oven (£4,80?) Kiiclien oveii {£6,672) Sui)kcn -] rampoline (£8,-308) Reserves and Finai)ciAI FleÉ)Itli 1.11¢ 'fi'iislees rL'gyLi11< rly revieiv the lii)aiic¢s. biidgels and spcnd agilll)sl bii(Igel as part of Ilie LlleLlive gioveri)Jii¢¢ of Ilie chai'ity. The Chai'ity bii(l&yL%15 to ¢nsLir¢ 11)e S¢liool is SLlf fiiiide(I bill il Is SLlPPOrted by Ihc rLtiirn on ils inv¢siiiienls and Ilie siirpliis geiiLI'atL by Loddon 'l'i'Éiining lo I'epliice &ind r¢'iiew the f¢lcilitiLs the ch¢ll'ily reqiiiri's lo piirslie ils cl)iii'ilalile 7¢ illls. 1.lie lei'el of SLlILiol fccs arL' I'evieiied ai)IlLiiilly b}, Ihe I'rii8iees in liaison willi Ihe Chiirily l.e4111ersliip 'feain. I".c¢ iiii'Ol¢eS I)re raised qiiui'lerly it) advcl1)¥¢ Ii'liicl) coiilribules t(} licaliliy C<isI) biilanLes ¢11 11)¢ begiiiiiiiig ol. Lacli qllilrtir. Iii Ilie ii£)I'iiial L()U15e of evei)l% Iherelure IhL 'I'rLislces do iiol foresee difliciiliies in tl)e C.liarily's cash tlc)w posilion. 1.he 'l-riislees Lonsider Ilie grci< lesl fiiiaiicilil ri.qk to IhL' ¢harilJ' is IhL. luLal liuilioriiy aLislerity Pl'O¥l'l< Illlllc w'l)icli lia5 I'csiilied iii CC)Liiicils dclaying i)aynienls iiiid iuiilcsliiigT Iiill¢ilioiiury ii)Lreases iii lees. 'I'l)c 'l'i'iislees coiisider il priicleiit lo Iic1I'C Ic siirplii8 1(> eiiable the SLlio()I and l.'I'(.' lo ioiiliiiiic 01)eraiii)&, diii'iiig ti pci'ic)d ol. rL.duLed iiicoine or iiicreasLd LxpLiidiliii'e. A I'eserve LqiliV<ilciil lo al least IlirLL nioiiilis aver<lLFL cxpeiidiliirL is hLId. I'hL Triislel's ¥vill Lonlii)LIL ¥viII) Ili¢ bLiildiii¥ i?i()jLcl Ihal li¢lS been LS1i£ blishLIl 7¢ nd ivill onLe again Ii'£111slei' thc s111-pILIS Ill£id¢ held in the hiiililinb proji¢l I'¢serves as a conlribiilioii loivurcls IIIL i¢'stoi'iiliOI) aiid rc.fiii.bishinL'I)l (If the iiiiiiii lioiisi, in prep%1fcllion ol. thi% becoiiiii)¥ ()Itices lor s(Ipp()n services I1nd Ir14 Illil)¥ once lh¢ stiiilcnls111& ve Itioved iiilo N141ple Glove. 'fhis piojecl is sel lo c()Ininei)Le iii the ne,xi leiv )'e1c I'S. 2023-24 2022-23 Tot<41 Fun(Is £14,819,556 £14.()34,628 Iiivested iii lixed as5e15 £9,335,121 £8.82.3,03.3 £5,484,43S £5.811,595 £5.484.4.3! £1.909.723 £0 £5.811,595 £1.984,595 £0 Re.q¢i'i'es ol'.1 nioi)Ilis De8ig>iic1ted hoi1i¥LIIIiii'1¢ I liind Desig?nc1ted biiildin&F fLlI)II £.3,1124 787 £44 j.C??£ £41.000 £3.800,0011 £0 £?7,000 C¢lPlt¢11 expeiidiliii-e riii)ds 41N'¢iilable t.or cli<irilable piirpi)ses LO £0 Pa¥Tr¢ 7
-rhe Loddon Foun(Jation Ltd
Report of the Trustees
for the l'ear Ended 3 1st rch 2024
The Triiste¢s will continiie lo revieiv ils reser.¢5 poli¥> in tl)e light of Ilie e¢oiioiiii¢ clii)iate lo enslire they ¥(Ir)liiiue to be sel ai
a realisliL level.
Inves¢inent Policy and Performance
Tlie Triislees, haviiig reg>ard to Ihe IiciLiidily rcquireinent ol. operating the Loddoii l.VLin(latlOl) ¢ind to the reserNes policy, havL
formdlly operaled a policy uf kecpiiig ti%'o Ihirds ol- Ilie fiii)ds iii Deposit ?( ccouiils and one Iliird iii Eqliilies aii(l Boiids. Ill the
ycar end th¢ ¢h41rily h41d casli depnsils ol- £6,006,657 41nd £1,588,781 invesled iii Ilie C.aLenovc ¢li<irily ii)ulii-as5el I'iii)d. The
£6111 held iii cash represeiils.. £.3.2in hL.Id lo fiiiid pliase 2 0l.ihe sch(Mil biiilding projecl ¢iiid £2m held 2¢ S kl .3 nioi)Ih cosl rescrvc
'itli Ilie balaiice repre5eii(ingT lh¢ s¢liool fees P1& id iii advdnLL by Ilie local <?Iiiliorilie%. Wlii Isl CLirrenil J IiiorL is IILld in dcpo.£ils
Iliaii the policy slates, it lias beeii left 4lS eiisl) rcscrvcs as il Ni'ill be spent in Ilic coining yecir on Ilic ne¥v scliool biiildings
The iiiveslinciits ii) the ('.azeii()ve Lharity iiiiilii-assel fiiiid l)a8 increased l)y £153,220. Tlie triislccs 1¢1ke ¢1 loiig-lerni view, Ic)
iiivesti))eiil ¥iiid lire pleased Il)e iiiilial ii)vcslii)ciil of £ I.QOO,000 i))ade ii) J
The Loildon Foun(l#tion Ltd Report of the Triistees foi. the Year Eilded 3 1st fvlarch 2024 The Trustees have a risk inaiimgeiiieiit slr¢ileg)' ai)d a Risk register ivliivli has bceii devLloped iii P2i rlnership iviil) the C.l)arity -eadersliip Te¥11n. Tl)is is revieived annually to l)igliliglil= ("urr¢nl (ind fiilure risks thal ihe L.harily m?£ )' fic ce. The eslablishnient Df syslertls lind pror¢diir¢s lo limil those risks (ind mitigate any losses siiifLfLd. 'l-l)e impl¢'iiiL'iil¢ltion of procediires designeil lo minitnise 1¢ 1)y potential impdLt on th¥ chai'ily .shoiild Ihose ri.sk.s ml< lerialise. A key arccl Ihc1t Ilie l-riistees review each year is tli¢ inipacl of possible cviifli¢15 of iiiteresl wiiliin the Bv1c rd, especiall}, in relalioi) lo l.i<iise l.oddon Ltd. I'h¢ 13o¢ird feel th1< I tliis arei? is w'cll iiiidei'stood k)i)d managed ¢speci(111y iioiv the iiiinib¢r ot Clirrint 'frLlStees lii)S iIILfcilSCd. Ai Il)e opei'alioi)(Il level Ilie Key I'isks faciiig Ilie charity are.. RepLltalii)nal risk. 1¢ I'lSiI)& fr(1111 11 salcgii£irdiiig) ji)cideiil. Tlie scliool 11¢15 exlei)sive S<ilegii¢irdiiig policies M,liich iliLliicle 5¢1f¢ I'¢iriiilii)¢111 <11 tlie liine ot. appoiiilii)eni. exl¢i)sivc ii)diiLlioi) Iril11)iiig ivliiLli is regiularl), re-eiilorLed cliid ilieLk pi'ocedures wl)ich are ii))i)lei)ieiil¢d ai Ilic fii'sl siiggTre8lioii of 41ny issiie arising. l.ocal aiiihority fLin(lin¥i f'i'om Ceiilral goN'ci'i)meiil is b¢ing ¢LII ba¢k and this may evenliii111y I'e(IiicL' Ilie ¥villiiig>iiess of tlIL l()¢al iiiiil)<)riliLS lo pay for the I1 of car¢ piovidcd b). Ihe sLliool. The s¢liL)ol holds th¥ ¢qiiivaleiil (?f tl)I'Le nioiiihs ol. charily riinnii)&p Costs back iii rcservcs. I'he SchoL)I niLibl eiislire il cdii coi)liniie t() iiiLel Ilic cliai)giiig 51diidJrds r¢ciuiicd by l)fsled. .1 o do Iliis il eiiiployees a S¢li(iol inipi'oven)eiil coiisiiliil lil aiid Iraiiis ils slafl- al iiidiictic)n lind r¢-oiifoi'ces iiiin111c Ily tl)¢ii' safegii¢ll'diiig oblig>alioiis. I'hc rcci'Liiliiib> ot. a full le¢ilii vf Larc $14111'1i¢)s beeii di fliLiili dLiriiig Ihl. last l()ur yL<ifs ¢ind ihL' risk li<iS bLcn niilig)Ic lid by Iiii'iii&) 1¢ g)eiicy 51alT'. Tl)e dilli¥iiliy the SLlio()I lius iii rcLriiiiii)gi care Sldft.. 'I'he suli()(Il is now. applyiiig lo ilic gyi)I'erni))eiil li) rcLrLiII 5171 n. I'RlI(.'"fiiiiF., GOVTr;RNIlNCE IIND lANAG,lENT CJOV¢I'ning dtsciinieiit 'I'hL Lli<ll'il)' is coiili'ollL'(I by ils gTovLriiing do¢iiiiienl. cl de¢(1 of Iriisl, aiid consiiliiles li liiniled coiiipan),, liinilLd bv gJil¢ll'ant¥e. s defin¢cl by thi C.onip1s nies A¢1 20n6. Key maiiagem¢i)I remuneration 'riie to11c I rei))Liiiei'cl1iOlI l)l- Ilie ei)IploJ'ees, i¥lio al'e Lc)11sidirLd io be Ilie k¢). Illl¢ Il&igeiiient persoiiiiel of Ilie ('l)cll'lty, M'as £.193,1 $2 (2023.. £373,074) iiicluding L'iiiplc)ycr's iialioi)al insiii'i111C¢ Qt £38,802 {2023.. £14,926). RF,fF.RF.NC'.E AND ADNIINIS'I'RFI-I'IN'E D&.T.AILS Registered l.".oiiipaiiy iiuniber 02448785 (Eiiglaii(l £iliLI W'kilcsl Registerecl C'liui'itv iiunibL'I' 8112188 Rcgistere(l olee 'I'l)L Loddon %Llioi)I Ivildnioor l.aiie Shei'lield-()n-l.o(Idoii H<linpshii'e RC"?7 OJD
The Loddon Foundation Ltcl Report of the Trustees for the Year F.nded 3 1st illarch 2024 Trustees S J Corbelt Senior Pbs C.'liniciaii S Flissey RetirLd Comp<lliy DireLlor R E Jones Retired School Assislanl PrinLipal (i'¢si¥ned 16.10.23) M R L4ikin Ri.tirLd R W Lycett Retired J A WakL Retired Regislere(I Car¢ Mciniiger C I We115 R¢lircd Cl)¢inci'o(l Ac¢otintaiil {resigned 7.2.24) R Avis lappoinled 1.11.2.3) G Day Retired (appointed 4.8.23} S A Sivai)soii Retired {appoiiiled 4.8.23) Aiiditors Sheeii Siicklaiid Cl)artered Accoiint<11lts Si<ilulc)ry Auditors 2 Oriel Coui'l On)ega Park AIIL)n Hun)psliii'e GU.34 2YT Investment Aclvisers and lAtIgerS Sclii'odcr & C.i). l.iinil¢d l Loiidoii Wal I P121CC .oiidoii I.:C'2Y SAU S'l"èl.l'EI Tr:N"I' OF 'I'RIIS"I'Tr: Tr:S' R Tr.SPON%I BII.ITI b's 'l-he Iruslees l¥1,110 4ire <11.qo Ilie dii'eLI()I's ol. Tlie l.od<lc)11 l-oiiiidci1ic)n l.ld lur Ilic piirp()8e% ()I' ci)IllPiin)' Ikll%') re rtspoI)sible f()r prepiÉ ring Ilic Rcporl c)f Ilic .1 r1151ees lid Ilie fiiiaiiciiL l %l<ilciiieiils iii aci()rd<lllLL Ilitli ilPI)IiLi< ble l<iiV aiid Lliiilcd Kiiigdoii) ALLouiiliii&T Siaiid<irds {Iliiilcd kiiigdoni (iei)erally ALLL'Pt¢d A¢¢()Iiiiliiig Pra¥licc). Coini)any law I'cqiiirls IIiL IriislLLS lo prcpai'e 11i)anLial sl&lLinLnts lor eauh liniin¥ial ycai. Ivhicl) gtrjl'e a IruL aiid fair vi¢iv ol. Ilic Slciie of il Iliiirs of lh¥ ¢11411'iliibl¢' ¢onip41ny iiiid ol. Ihi, iii¢oiiiingJ I'LSDllI'ces ai)Il ÉippliLiiliDI) ol. I'¢soiir¥¥s, inLI(i(ling) Ihe inLc)11)L' and expeiidiliii'e, of Ilie chi& I'iliible company for th1 PL'I'iod. In preparin¥ Iliosi financi¢l1 slatLmenls, Il)e Iriislees al'e r¢qiiir¢.d lo seleLI siiilable i)ccc)111)iing policies <ll)d Iliei) (lpply Iheiii coi)sisieiiily; ob5¢1'VQ tlie iiiethods Iiiid prii)ciplcs in the C1147rity SORP. 11)¢)ke jiidgciiicnls <iiid c'sliin¢11Ls Ih(Il are I'LilSC)ll<lble and prLicleiil' 51£lte il'lieiher l)i)Iiciible Ilccoiiiiling standi£ I'ds hcive beeii loll()wcd. SLibjccl to IL iiy n)l£ teri<il depai'liires disLlosc(l ai)d prep1( I'e the fiiii£ l)Cliil slateineiit$ 011 the goiiigi coi)cerii b¢iSiS iinless il is iiiapi)ropriaie to presiiiiie tl)al Ilie cli<irilÉil)le COIIIP¢iliy ivill continue in bLISiIICS5. Tlie Ii'u51ees are responsible lor keepiiig prc)per aL¥oiiiilii)g rcLoi'ds ii'liich di8cliise willi reasoi)iiblL aLLLifii Ly al an!, tiii)e ili¢ C'omp1c iiies Aul ?006. They 1( re ¢1150 responsible lor S411egiLiardii)g Il)L i s.%elg ol- tlie Lhariial)le coiiipaii}' lind lienLL loi. t<1k'in reclSOllclt)le steps foi. the p1'eentiO1l <iiid dLtCLtii)n of fr<lLid aiid otlier irregii11< rilies. In so f£if cls the trLISlees ¢?re <llViire'. tliere is iii) relek,iiit Iliidit iiiloriii<1tioi) ol-ii'liich the clii2riti1ble coinpii s iiiidiloi'5 re iii11¢ Il'¢11'e' 4ind th< IrustCL5 h11 ve l<)keii c)11 sleps Ihal Iliey oii(Flil to l)11 ve lakcii to Incikc IliciMsclN'es c1Mcirc of illi). rLlevaiit ciudit iiiloi'i))I11ioii £iiid to establish Il)21 Ilie <111ditors are 1< i%'are of tli<lt inlor1i11¢ li(Iii.
The Loddon Foundation Lt(I Report of the Triistees for the Year Ended 3 1st l%Cli 2024 AIIDITORS The Aiiditors, She¢n Siicklai)d ivill be proposed lur rL-appoiiitinent al tlie forihcoiiiii)g Aiinlial General Meeting. Rl'poit of th¢ Iriisl¢es, incorpoi7lingi a sli'¢11egiL I'epurt, approved by order ol. the board ol- IrLisI¥¥sJ 1¢ s Ihe comp¢iliy dii'eLtors, dnd 5ign¥il on tlie board's behalf by.. G Dily - 1'riJsl¢L Page I I
Rtport of the Iiidependent Aiiditors to the leMberS of The Loddon Foundation Li(1 Opiiiioii WL hcive aiidiled (he tinancial slaten)eiits ot" The Loddon Folli)di tii)n l.td (Ilie 'cliai'iIlb1e voiy)P1¢ 1)y'} lor the vear ended 31 sl NlarLh 2024 wl)iLli coii)prise Ilie Si41tei)iei)l of Fiiiancial AL¢iN'ities. the BalaiiLe Slieet, the C'.¢isI) Flow Siateinenl Iiiid nL)Ics lo the liiianii<il stcltemei)ts. ii)LILidingT a siiinn11< ry Ot sigiii fiLanl accouiitinL' policies. I'hc linanci111 reportiiig fr1( l))ewurk th1< t 11£1S bLcn applied in Ilicir prLpardtion is applicable laNv and Unitcd IKiiigdoni ALLOLinlinu %landards (lJnited KinLTdoni (Jenerally ALLepted ALuoiinlinb PracliLe). In oiir opinion the finiincial stc1tenienls'.
ive a triie aiid fi¢ ir vieiv of lh¢ stcil¢ ot" 11)e ch1< rilable compaii) 5 Jff£iifs c1S dl 3151 larCh 2024 aiid of 115 iiicoining I'esoliQs aiid c1ppIic1¢ lion of resoiirces, iiiclLidiiig ils iiicome <111d expeiiditiire, foi. the year Iliei) en(ted' have beeii properly prepared li) accoi'dhi)L¢ ii'ith Uiiiled Kiiigdoni Geiiei'ally Accepted Aceuui)ting Practice. aiid hav¢ beeii pr¢pilr¢d in a¢cordan¢e wilh the reqiiireinents vt tlic Companies Acl 2006. Basis for opinion We condiiclcd otir (?Iidil iii accordaiice willi Iiileriidtioiial S11( Iidards on ALidiliiig {UK)11 SAS {UKI) aiid iipplicable law. Oiir respoi)sibi l ille.8 Lll)der Iliose siaiidilrds li'e fiirihcr describe(l iii Ilie Atidilors. resi)oiisibililies foi. IIIC <iiidil i)t' Ilie linai)oial stJlciiiLnls s¢¥lioi) of our r¢port. W'e are ii)depeiideiil Of the ¢liai'ilI1ble ci)i))Piiliy iii aLLordii l)ue iviili Ilie eihiL<il I'eqiiii'eiiiei)Is 111<11 al'e relev1< 1)1 to Olir aiidil of Il)e liiiaiiLial slÉileii)eiits in Ilie IJK. iiicliidiiig tlie FR("s F':IliiL£il Siaiidxrd, aiid ive liave lullilled our otlier eil)i¢al respoi)sibililies iii IlCLordaiice iviili Iliese I'equirei)ieiils. We believe Ilial Ilie aiidil evidei)¢e Ive h¢lVC obiaii)ed is sutliciciil and api)ropi'iale lo pi'ovide a b<lSiS foi. oiir opinion. Concliision.% rolatiii¥ t going con¢ei'n In aiidiling IhL firiancikil stalLnienls, NVL l)avL' ¢oi)¢lLide<l Ih¢il lh¢ Iriislees, Lise of the g¥oing COliC¥l'n bllsis ()r ¢iccoiinling in the prepai'illi()n ol. tlie fii)£ll)cial sliii¢n)¢n15 is appropi'i¢ilc. Biised 01) tlie i¥'ork w'e liiive p¢i'foriii¢d, Iiave i)()l idenlificil aiiy IM41icfidl Lii)c¢rtaiiilics r¢111 liiig lo evciils or c()i)ditii)iis Il111t, individii(Illy i)I' ciillcclii'cly, Ill¢ly Ldst sigJniliLiiiii d()Iibl ()ii Ilie Lh(2riliiblL cc)ii)pai)y'.% llbilily lo conliiiLI¢ Ils 11 gioingi conceri) f()r a pei'io(l ol. al le<l91 Im-elve iii()Iiih.% froiii iilici) IhL fiiiaiiciul slÉilcinLnls lire aliiliiiriscd lor i5SUL'. ()Lll' re.qpoi)sil)il ilies lid Ilie re.%poiisibililics ()I' Ilie Irlislces iiiili rcspecl to LYVjITr&? ¢L)Ii¢Lril &ir¢ described iii Ilic I'eleviiiil 5ccIi()118 ol. Iliis rep()rl. C)ther inforinillion Ai)nLidl RL'port. otliL'I' tlian Ili¢ finan¢i
iiig scTr, coiisider wliether the other iiifoi'in(Itioii is m(IILrii(11)' iiic0115islciil willi tlie 111l¢iiicial 51¢ilenieiils ()r oiir ki)Dii'leclbi¢ obiaiiied iii Ilie <111dil c)I' ()Il)ernvisL appe¢ilS 1(} bc 1111¢ leril¢ Ily iiiissl¢)led. If Ni'e idei)ti l}, siiLI) iiialL'ri?I l iiicoiisislencies (li. appurLiII Inalerial Ih¢niselve.s. It.: b¢1.sed oli Ilie i%'ork ii'c lic)VC i)ci'f()I'niLd. Ive coiicllidc tliill IIIci'L IS 1¢ llliilLfi¢11 1))issliileiiieiil ul. Ihis oil)ei' inloi'i)lilliOli. Ive (ire I'eqiiired lo I'eporl I11<1t fiicl. We Iiave noiliing lu rei)oi'l ii) Ilii.% regard. Oi)iiiioiis on other matters i)resei'ibed b). tlie L.'oiiii?aiiies Act 2006 Ilie iiifuriiici1ioi) giifv'Ln iii Il)e Report of ili¢ Ti'ii.sl¢es toi. Ilie tlllc1n¢i<11 }'L" the RL'port of tlie Triistees h(1% h¢¢n prep¢11'¢11 iii iL Loord<1nce iviih dppliLÉiblc IL(J{Il I'eqliireinenls. ci¥e 12
Report of the Inilepen(lent Au(litors to ihe leMberS of The Loddon Foundation Lid IVIAtters on whicli we lire required to I'ei)orl by eyceptioii Iii iliL' li&lit ol. tlie kiioii'ledge and iinder51<indiiiLI ot. Ilie cli¢1rilable comp<iny and its eiivironinenl obtaiiled in the coiirse i)f tlTre iidil, M'c hi< N'e not idelllilied liiiltcrial misslaleiiieiits li) the l£eporl uf- the Trlislees. We liave noiliing to report ii) respect ol. IhL folloiving iiiatters wliere th¢ C'ompanies Act 200() reqliires LIS to report tv you it", in our opinion.. adeqiiate accoiiiiling records have not bo¢n kept or reliiri)s adeqlialc foi. viir aiidil have not been received fium bi dn¢hes not visil¥d by us- or the Iiiiancicll slaleineiils ¢lre riot in gree1]ient iviih the ¥lCCOllI)lii)g reLords and rctiirns., or ¥crtdiii disclosLires ol IrLislee5' rciniiiicralioii .speci fied by l¢lN¥ ,IfL nol mcide. or ¥e hc1VC Ilot rcccived ¢111 Ihe iiiformatioii aiid expl<illiilioiis rcqiiire for oiir alidit. Responsibilities of trusloes As explaii)ed Inore lill l}, ii) the Siatenlenl ol-TrLlgtees' Rcsi)onsibililies. Ilie truste¢s (]7 121.1 a150 the directors of the cliaril<iblL' conip4111S for tl)e piirp(Ises uf QoliiPl¢ iiy laii) are respoi)sible lor tli¢ prcparatioii of Ilie fiii<iiicial slcil¢n)ciils aiid lor beii)g Sl¢ li.8lied th¢11 ihcy give a Ii'iiL 1< lid l?¢ ir vieiv, ai)d Ic)r SLILII iiilLrnl¢ I coiili'i)l as Ilie Iriislees IleiLrniin¢ is i)ece8sary lo eiiable tlie prepdl'£ilioii ol- tlllli IILl<il s(4llei)ieiils Iliat ai'c free Iron) i)ialeriÉil Inissl<iieiiiii)I, Ivlieiher dLie to fraud ui. ei'ror. li) i)repariiig Il)e fiiiai)Clil1 slaleiiieiils, the trLislcL's ari rc%pon8ible lor 41ss¢sging Ihc u111¢ i-lliible Loiiipai)y's &bilily lu coi)liniie ic s a g()illLJ COllLLrn. disLlI).8iiig, as appliiablc. i))allers I'eliilcd to LToing coii¥Lri) ai)d iisiiig (lie going ¢(Jn¢¢'i'ii basis ol. aLLoLiiiling Linllss the IriislL'¢s Liili¢i' iii(¥'nd 10 li4tiid4llL thu Lhi( ril4ible comp4iliy or Io L¢aSL OP¥l'iltioiis, or havL' 110 r¢silisiiL aliLrn4llivL' bill lo do so.
Report o( lhe Inilependei)t Au(lilors to the N'lembers of
The Loddon FoundAtion Lt<l
Our respoJisil)ilities (or the Au(lit uf tlie fiiiaiicigl statemeiits
IrreL)IIIIL Yilies, IIILILidiiig Ir<lLid, are iiist4iiices ol- noii-LonipliaiiLe ivith laN%'s aiid regiilalions. We desigi) procediires in line w'illi
Olir resi)oii.sibililies, outlined ¢lboN'e. ti) de(ecl malLri<il Inisst£lleiiieiiÉs iii respect of irreb7ularities. IllLliidii)g Iraiid.
We enslirod Ih<il th¢ ¥ngageiiienl lean) c()Ileclivel}' had ilic Ilppropriate ¢oiiipel¢iiLe, Cdpabililies ¢111d skills lo idei)lily or
reco¥nise nun-Lomplian¢¢ with appli¥abl¢141IVS aiid regiilations.
Tlie laivs and regiilalions applicable lo ihc Lh¢irity iY¢i'e i(lentifie(I through disciissions ivith the IrLislees aiid oth¢r nianagemeiit.
,Ilso frun) oiir cuinnierLiiil kiiuNI'l¢ilge ciiid ¢xperience of the incorpor£2led cl)arily. Ul'ihese l<lWS l& nd rcgLilJli011s, ¥%'e fociised on
those tliat we c(Insidered may h¢1ve a direcl Inalerial Lffcct on Ilie tii)aiicicil slaleiiients or the operiqlioiis of ihe eOliiP¢ll)y,
iiicliidiiiu bill ilot limited lo Tlie Companics Acl 2006, taxation legislation. data pioleclioi), aiili-liribery,
,iiili-n)oncy-laiiiiderii)g, eniploymeiil, enviroiinienlal dnd helllili 1¢ nd $41fcty l¢gisl<ltion.
The extent ol coinpli1c nc¢ i¥itli tlicsc la%.S and regiilalions ideiitified above ivas assessed Ihruiigli ni<lking) enqiiiries ol.
iiiaii<1genienl and iiispecling le&ial expendiliire ai)d cori'espoi)(lei)ee. I'hc idLnlificd l£llVS (ind rcgii11c lioi).q M'ere comiiiLlllILatcd
iiliin Ilie aLidil teal)), Ilie leani I'eiiiaii)ed Ici'l to iiistai)ces of noii-coi))pliii lice IhroLigli(iul tlie audit.
We assessed Ilie susLeplibilily of the LlIArity's finaiiLial stcileiT)ei)Is to 11)l< lerial misslalei))eiit. ii)clLidii)g obiaiiiing ali
Liiidei'slciiidingi of liow Irillid n)ighi ucLiir by:
iiiaking enqiiirie% ol. IndiiagiLIi)Liil ¢lS lo wliere Iliey ¢oiisid¢i'Ld Ihcre ivas 5115Leplibility lo fraLI(l. Il)ei)) ki)oivled&y¢ ot
i¥liial. sUSP¢¢ti(l
Report of the In(lepen(lent Aiiditors to the '[eMberS of The Loddoi) Fouiidation Lt<l Use of our report This rLporl is made solely lo tlie Lharilc?ble cc)n)pai)y's Ineinbers, as a body, in accordaiice ii'iil) Cl)¥lpler 3 of P¢1rl 16 of tlle C.oiiip?L llies Aci 2006. OLir aiidii ivork l1<1S beeii uiiderlakeii so Ili<il we Inighi stale lo tl)e Lharilablc coiknpaiiy's Inen)bers Ih(Ise i))alters we are required lo state to tli¢m ii) ali auditors, reporl ar)d for no other purpose. To the liillest e.xtei)t permitled by law, we do nut aLcepl or assLim¢ responsibility lo anyoi)e other Ilian the Lhariluble Lunipaiiy 4ind Ilie uharitable conip¢iny's meinbers as a body. toi. oiir audit work, for Ihis r¢port, or for the opii)ions w¢ have formed. David Sanders FCA (Sinior Sialulory Aiidilor) fvr aiid on belialf of Sheen Siicklaiid Ch<lrt¢red Accoliiilanls Sialuli)rJ' ALidilors 2 Oricl Courl Omegkl Park Alion Hainpshire GU34 2YT Diile..
The Loddon Foui)(lalion Ltd St4qtem¢nt of Financial Activities foi- the l'ear Ended 3 l&t lrch 2024 2024 Total flinds 2023 Total fuiids UnrestriLtLd fiind.8 Reslricled Not¢s INCONIL AND LNDOWfvILN"rs FROM Donations 6,107 34,335 Chai'itable activities Operations of the school -I'r¢iining ¢1nd iN'orkshops 8,146.592 703,847 8,14(),592 70i,847 7,917,128 726,251 Investment incoine Oilier iiicomc 166,056 166,056 1,5()8 79.C)50 2,100 I'otal 9,024,200 9,051,215 8.7ig,664 EXPTr.NDI'I'IIRF. ON Clill I'itlI1e aetii'ities Operaiiun5 Ot IhL' s¢l)ool Tr<1iniii&i and Nvork81)ops 8,466,010 526,442 27.055 8,49.3.065 5?6,442 7,707,374 686.847 8,992,4.52 27,05.5 9,Q19,507 8,.394,221 Net g)aiiisl(108se81011 iii¥'eslinciils 153,220 153,220 IC)4,3741 NF.'I' I N(."01 b:l{Tr:XPb:N l)I-I'II RE) 184,968 (401 184,928 301,11(19 REC:()NC'ILIATI()N I)F FIINI).S -1 olal fiinds brc)Iigylil f()I'W¢ird 14,6.1,1,493 135 14,6.34,628 14,3.33,559 1'01'AI. FIINDS C.4RRlb"D >ORW'ARD 14,819,461 95 14,819,556 14,634,()28 I'lie i)oles foi'in P<ll'l of Ihese fin<incial stc11eiiieiils
'he Loil(loii Foun(I,Itioii l.i(1 Bal¥lt)ce Sheet 31st 1111.(17 2024 211?4 202.3 N(Ites I.XLD,ISSE'I'(> 14 7,74(1.340 1 58¥.781 7..387.47? 1.43$ $61 1),-3.15,121 8.8?.1,0.1.1 C'II RRI,'N"I' kKS.Sb'-I'.S Debi()I's 16 2,214,695 412,110 5,$94,147 1,999,()4.j 505.110.3 5,773,31.S 8,??1,282 8.278.263 ('Rl,-l)I'l'l)RS {2.7.3(Tr,8471 12.4CTr(I,(16111 b.-I' C'il Illil,: N'l. ,i%S>i,"1'4i 5.484,4.35 811.595 ).%) C. I,'Illll,:N'l' 14,¥11),556 14,6.B4.()28 14,81(),%.56 14,()34,(Tr28 TrIINI). 14,81().461 95 14.(?.14,491 '()-I',I I, b"[IN I).4) 14,81().f.S(I 14.6.34,(128 Ci l)clV - 'I'r(i%liL
The Lo(Idon Foun(1gi lion Ltd Cash Flo)v Statement for tlie l'ear Ended 3 1st N.l*rcli 2024 2024 2023 NL)tes C.'asli floivs fi'oni oi>eriiliiig aitivities C1h ¥¥n¥'ralcLI from opei.4l1ioi)s 22(),945 657,1184 Nel cash proviclL'Il by ClPLfdtin¥ dctivilies 229.945 657,084 Cash flows from ijivesting Aetivities Piii'cliase of langjible fixed assels SalL of Ici1i¥iblL fixed i1Ssels Ciii'reiil 1¢ ssel iiivesiiiienl niovenienl Interest I'eceived (620,OC)7} 1,800 1)2,61)3 16.661 {224,17()) {191 22,920 Nel casli Lised iii iiiveslii)g aelivilies (408,9131 (198,978) C.hAiige in eAsh i)n(I ciish eqiiii'mleiils in Ilie rei)Drting i)crio(I Ciish Mild Lash e(iiiii'iilei)Is t the l)eginnin# f the rei)iii'ling iieriod (178,1)681 4$8,106 .S,773,315 5.315,209 Cftsh lliid rnsh e(iliiv1e1)t5 111 tlie eii(l of the rtpoi'tin¥ period -s.5()4,-147 5,77.3.-115 Thi notes foi'iii parl of Ihise fiiianLiI?I slll leinenls
The Loddon Foun(l*tion Ltd Notes to the C:ash Flow St#tement for the l'ear Ended 3 Is¢ Nlarcli 2024 REC"ONCILI,ITION OF NET INC'OfvIE'I"O NET CASII b LOIV FRO1 OPERA'I'ING ACTIVITIF.S 2024 Net income for ihe rei)orting perioil (as Iiel. the Stiitenien¢ of b inanciii I Activities) Adjiistnitnts for: D¢prccialion charg)es {G<Qlll)110sses 01) investm¢nls Profit 01) disposcil of fixed assels Interest received Iiicrease iii debtors Iiicrease iii ¥redilors 184,928 301.069 260 I)()7 {15.3,220} (1,598) {I1(),6CIl) 1214,680) 270,179 262.-539 (2,3001 122,920) (J9,640) 93,962 Net cxsh i)rovided by 01)e1'tIonS 229,()45 657,084 ANALI'SIS OF C.'HANC.b.S IN NE'f Tr'llNDS Al 1.4.23 Cash floiv Ai 31.3.24 Net ciish C'4ish 1411)Ic nk aii(l in liand S,773,315 1178.968) 5,S94,347 5,77.1,315 (178,968) 5,-594,147 Liquid re8(iuree.¥ Dep(Isils ii)Lliidcd iii LasII ('Liriei)i aS8el investiiic'iils 5115,003 {92,6()31 412,-310 .5115,1103 {92.6()31 412,3111 'rotMI (),278,318 1271,(b611 6,0()(1.6S7 -lie not¥s loriii Pcl1'1 of Iliese finic n¢ial slalei)ieiits
The Loddon Foundation Ltd
Notes to the Fin&nciAI StAtenients
for the Year Ended 3 Isi Ilre1) 2024
GENERAL INF()RIlATION
l-h¢ Loddon l-oundatioii Lid il privale company liniiled by guar¢inlee inLOTPOI'aled iii F.nbiland and Ivales. ThL
registered 01¢¢ 41nd pi'inLiple pla¥e ot biisiness is The Lodclon S¢h[, Wildmoor Lan¢.. Sh¥i'fi¥ld-on-l.oddon, Hook,
Flampshir¢, RG27 OJD.
ACC:OUN'I'ING POLICILS
Basis of prepAring the fin#Jicii)I st#tements
The Iiiiaiicial slalenients of Ili¢ charilal)le conipany, wliich is a PLiblic benefit eiilily Liiidei. FRS 102, liav¢ bccii
prepared in RcLordance ivitl) the C.l)arilies SORP (I.'RS 102) 'Accoiiiiliiig (liid Reporting by (.'li(Irilies.' Sialeineill of
RcLomni¢iidcd Pi'a¢ti¢o appliLciblc lo ili¢ll'ili¢s pi'ep<lriiig Il)eir 1¢ ccouiils iii accoi'dai)ce iviih Il)e Fii)ai)Cllc l Reporliiig
Sti< 1)di< I'd <ippIici( ble iii the UK und Republic of Ireland {FRS 1021 (¢ff¢¢live l Janliary 2019)., [-' in¢11)Cicil Repoi'lin
Staiidard 102 'Tlie Fiiiai)cial Repc)riii)g Siai)dard Iipplicciblc iii Ilie UK aiid Rcpublic of Irelaiid, aiid tlie C.onipai)ies Act
2006.
The Iinaiici<11 slateiiiciils11<1VC bccii prcpiired linder the hisli)ricil1 knosl ¢onv¢nlioi), willi Ilie ex¢¢plioii ol. ii)veslinenls
whi¢li al'e iiicliided al market value, as i))odi fied by the r¢vi< lii<ilioi) ol'c¢rlaiii as5els.
Tli¢ fin¢ill¢ial slalL'menls lire prL'sei)ILd in slLI'lii)&y ivhi¢h is the fiiii¥lional CiirrenLy of IhL' Lhai'ily and roLinded lo the
neaiest poiind.
Going concern
Ai Ihe lime of ¢lPPlVVlllS' Ihc fiii¢iiiiial $1411cinciits, the Ii'ii.4tees have a rLIISOll¢iblc cxpcclii lilii) Ilic21 the cl)<irily has
adLqiiatc rcs()Lll'ces lo c(11)liiiiie in oper<ltioiiiil exislLIicL l()r Ilie toi'e.qee£ible liiliire. Thiis Ilic. Ir1151ccs conliniie Io 41(1(Ipl
Ilie goingT COll¢CI'ii ba515 ()f ilCC()IiiiliiigF jii pr¢p¢iriiigF IIIL liiianci1( I slaleiiiL'iils.
iic()Iiie is I'LCOb?niscd iiliLlI Illc LhÉirily 1% Icgcilly eiiiiiled lo il &ill¢r cllly perti)I'ni4?Ii¢c Loiidili()ns h<ive been iiicl. Ihc
amouii15 cai) be iiieasLired reli<1bl)', aiid il is prL)bable Ilii( l ii)conie NVIII bc rcLClV¢d.
SLliool lee8, Irainiiig tiiid ii'()I'k511<)p fccs and oilici. incoiiie are reLogi)ised in tlie Sial¢ii)¢iil ol- Fiiian¢ial ALlivilic5 111
the period iii ¥vl)iLlI the sL'ri'iLL' 1% pi'oviiled. feL's iifL 11)voi¢¢d quaiterly iii advaiiL¢* ¢iiid Ir¢linii)gJ and ivorkshops arL'
invoiLed in adv¢inLc lo IIIL LOLifsL. bcing, i?rovidLd. Iiicoiiic I'eueived it) advaiiLL' IS l¢'LOb?i)is¢d as d¢f¢rred iii¢onie.
Cash doi)alions re reLogJiiised on rLLcipI. IIiLome Iklx I'ecovei'i¢ ble ii) relation to donatioiis I'e¢eivL(l iin(IL'I' Gift Aid or
deeds of coienii ni is I'ecognisecl i ihe liine of ihe don1£ lion.
ExiKnditiire
All expeiidiliire is clCCOllllted lor oli <ill accrii<115 b
The Loddoi) Foundation Ltcl Notes to the Financial Statements - eontinue(I for tlie Year Ended 3 1st Illareli 2024 ACCOUNTINC. POLII'.IES- coihtinuecl Cl141rilable qctii'itie.$ The Cliarity, Iindei'11c kes livo priiiLiple aclivi(ies= a Sehool whiLh provides eduvalion and ¥ar¢ for 30 (2023: 30) cliildreii. The charity Ic Is(} provides Ii'i¢ ining coiirses for a niimber of oi'¥<illiscltions IhroLigh Locldon 'l'raining & Consiiliancy, iiiclliding Oiitreach services wiil)in the UK and internalioiially Ihroii&h Ihe provision of Iraiiiing 41nd siipport lo incliidc a 5niit11 on-¥oing pro¥riimme in Zlc mbi¢l. Tangible fiyed assets Tai)gible Iixed 1¢ ssets 4ire slated at cost les.8 depreciation, which is proi'id¢d iii ¢llLial diii)Il141 iiislcilincii15 ov¢r Ihc C51imatcd LisefLII lives ol- Ilie asseis, aiid any pruvision for iiiipairiiieiil. Individlial assets over a cost of £ I,OQO are capilalised. Asscls ii) Ilie cuiirse of coiislruelioii cost incllicles prolessioiial fees ciiid oillei. directly allribiilable Losls necessary to brii)g the asset iiilo iise. Deprecialioi) coi))i)ieiices Nvl)ei) Ilie assets are I'eady fi)I' Ili¢ir inl¢i)d¢d iisc. Aiiy g1< in oi. 108s on dispos¢il of ali ileiii of fixtiires and Iillii)g7s are delcriiiiiied by Loi)Ipariiig the pro¢¢eds tioii) disposal iviih Ilie ¢<lrryiiig ai))oiii)l of tixllires ai)d fillings, Iliid is r¢Logi)is¢d Nviil)iii oilicr iiicoii)clcxpei)ses ii) protil oi. loss. The rates of deiirecialion tipplild lo assLts are as follows.. Freel)old biiildingrs - ()vcr 50 }'LUI'S Property in)provcin¢iils - oi'lr 7 yeii rs lolor vehicles _ 2.50/0 rcdiiciiig b¢l14lnLL I)1¢ Sis l ixliii'cs, fitlinbJS aiid gei)erc11 eqLiipmenl - I 50/0 stri£ ibyh( line baqi8 I'#xi)tioii Tl)e cl)ai'ily is cxciiipl Ir()Iii corporÉlli()ii l&?X i)11 115 clihriilible llciivilies. Tr uiiil #ecountiiig Unreslri¢led tiii)d8 can b¢. usL'd it) Mcuoi'dai)LL' will) (he Ll)arilable (IbjeLlives al tl)e di.SLft)lioi) ot the Iriislees. RLslriLl¥d liinds Can only be iisld for pMI'li¥iilar r¢sli'ictuil piirpos¢'s within Ili¢ objects vf Ilie chai'ilv. Ri'.slriLIioiis ¢iris¢ Ivhen sp¢'¢ifiLIl by the donor oi. wheii fiiiid5 are riiiscd for piirliiiiliii. rLslriLlI'(I piirpos¢5. FLlrth¢r ¢xpl¢111&11ioii of the n<iliirc &in(I piirposc of C1& ch fiin(l is incliidcd in the notes lo Il)e finiillci1¢ I sllilenienls. Pension c05t5 nncl other post-retireinenl benefits 'IIL cl)411'ilciblL' ¢oinpaiiy oper<iles (i pei'soii<l1 pensiol) scI)ei))e. C,01)Iril)LIIioiis Pilylc ble lo the cl)II l'iliible con)Plc l)V'S conip<llly ii1s0 operates 41 Tei1cliers' Pensioiis Sclieiiie. del£iils C&ili l)e IDLiiid in Iioie 19. En)i)loyee benefits Slic)rl-teriii emi)l()vec bcnclils Losls lire reLo¥nised 115 1< li41bilily 4iiid an expense. Re(liiiid¢lllL)' pa)'iiienls 1& re reiogtriii5eil an eii)pl(i'ee or to pi'ov'idl leri))in<l1ioii Fixed Asset investinentS rixed 4issel iiivesliiients (ire initicillv niLaSLifLd ai iljiir Ii'ai)sailion V1& Ilie ai)d iifL SLibsciiLILlltI!' i))LcisiifLd clt fair ialLIL' at eacl) repoi'ljiiiJ dic tL. RLdlisLcl or iiiirealise<l ¥F&llllS <111d lo.sses on (lisiiosal%, or oil reN<lliic11ioii. 41re I'ecobsnised iii Ihl, Sialenieiil ol- FiiiilllCiL21 Activities. Re4i1i5ed ancl unreAlised gains anil 10$5es onliiiued...
The Lo(Idon Found?1 tioii I,t(I
Notes to the Finigncial Stalemenls - continiied
foi. tlit Year Lnded 31st NIAI-ch 2024
ACCOIINTING POLICIES- cuiitiniied
All gains and los.qes ?¢ re Ilik'en to Ilie SidtLIllLnl of binancial Avlivilies as Ilie!. arige. Realised gaiiis aiid Ios5cs un
iiiv¢'slrn¢iitS iifc L¢ilbiilat¢.d (Is lh¥ ditlei'eiice between salLs proiL'¢.ds ai)d OPLning fair valiie IpLir¢h¢ise d¢11e if l(Itei'}.
Uiirealised gjaiiis and losses are valciil¢ilLcI (IS th¢ (lilference beliveen Ihe fair valiie al the year end atkcl UPL'nin¥ fair
vallie (or piii'Lhase date if lalerl. RL'411ised and Iinrealised glInS are not sepai'aiLIl in th¥ St<ltcmcnl of finai)Ci¢il
Activities.
C,a.$h and cash equivalents & ciiri'ent asset iiivestm¢nt5
Casli and cash eqLiivaleiils include C<lsI) iii Ii<iiid, cash 1< t b¢1nk (Ind other sliorl-lei'm liqiii(l iiii'eslii)eii(s M'itl) origiiiiil
IDLltiii'ilics of tlircc IiiL71I1hs or less. Ciiri'ent asset iiiveslinenls repi'e5ciII sl101l-l¢riii iiiveslniei)Is w'illi orig>jii(ol Iiialurities
of Inore (11421) three nionil)s.
Del)loi's
Sliurl lei'iii debloi's lire slited t?t Ilie scltlenieiil aiiiLILiiiI diie ller ai)y Ir
The Lod(loii FoundAtioi) Ltd Notes to the FinqnciAI StAtenients - continue(I for Ilie l'ear Lndecl 3 Isl NIArch 2024 INVESTMF.NT INCONIF. 2024 2023 R¢nls rL'Leived Deposit a¢ioiii)l interest 49,39.f 16,661 56,730 22.920 166,056 79.650 INC.ONIE FROTrI C.FIARITABI.F. AC.'rii'iTIF.. 2Q24 202.3 Incoiiie aiialysed by class of bLisiness'. ('.l)ari(able clivilies ()peraiioiis ol- the SLlii)ol Trniiling) arid Ki'ork'%liop.q 8.146,592 70.1,847 7.917,127 726,251 8,8.$0,4.19 11,643,-378 O"I'II F.R IN(.'()TrIE 2024 ciili oli gale ol- iai)gijl)le Iixed a$8eis 1,598 LFIARI'I'AEILF. AC-. rivi-riF.S C.'.OS1' SLlI)purl Lo&ls {scc n()ie 9} l)ireLI -1 olals UpLI'(Itioiis ofthe school Trfjiiiiin¥ an(1 ¥vorksl)ops 8,282.8.34 507.399 210.231 8,4()1,06f .$26,44? 8,790,?.3 3 229,274 9,019,507
The Loddoii F4)uii(latiots Lt(I Notes to the Financial St4glenients - continiied foi. the l'ear F.nded 31st lre1) 2024 .8IIPPCIRT COSI (ioveri)aii¥e Losls Finance Oihei. Tvla15 OpL'rdlic)ns of thL' SLhDoI Training ¢lnd ¥vorkshops 1.S.-f 64 11.1,023 2,871 81,644 16,172 210.231 1 (),043 15.5()4 115.894 97,816 229,274 10. NF.T INC.OfvIF.I{F.XPF.NDITIIRF.I Nel iiicomellexpciidilLlI'e) is staled 1¢ fier cli1¢ rgii)g)l(crediling)'. 2024 2023 ALiditoi's' reiniiiieraiioii Depi'eLi¢iliL)ii oiviied assels H li'e ol. plaiili (nd Iiia¥hiiiei)' ()thei' operaiiiig lea.8es Siirpliis on disposal of fixed asseis 20,803 260,996 233,3111 19,458 262,531) 227,23<) 12,()27 {2.300) 11,5()Y) Iiicliidcd iii Ilie ALidilc)Is rciniiiicriilioii is L()sls lor c)Ili¢r 5¢rvic¢s,' £3,69U lor Ilie acc(iuiils prcp£iriilioi) {202.3.. £."),5401 ieacliers p¢iision aii<lil £1,21 U12023.. £1 I (lol. 'I'RII,SI'Tr:Tr.S' RE.l[lN:RATI{)N AND IITr.NF:b I'l" 'lic .1 riistecs did iiul I'ccL'ive aii}' I'ClllLllILI'iilioii (ILirii)b) Il)e ye¢ir eiideLI 31.5t N.1ill'¢li 2024 {?02.1.. £Nil i. liill8 ii'ere niiide Ii) i)iie ti'iistee lolal liiigi £111111202.1.. £411). Triistee5' exi)eJiyes ExpLllS¢'S rLlaliiigJ lo Iri¢ VLI and Iil¢Lliiigs l()lallingr *556 wci'L reiinbLir.8ed lo two I'rLisl¥es1202.1.. £316 to livo Trustees). 12. s'rA F'F (".()4)I'. 2Q24 202.3 6,0()3,041 451.379 25(),?62 5,852,49.1 -170,6?4 219,264 Soiial securilv Los15 Other peiisioii costs 6,802.682 6,442,-181 AgeiibN' L0515 o1.£1.343,3021?0?3'. £2:302,411)) i%'ere Iiaid dLiriii¥ IhL year Iliid re iiiiluded in Ilie i%'¢1gves ai)d Sillic ries LO%t slioivi) al)i)i'e. I-IIL aV'L'r&gie iiiuiithl}' iiiiii)bLI' ol. Liiiplos'Les diirii)(. Il)L yeRI' IV1< S ftq lolloiis.. 2024 202.1 SLhuul Tr4111)iiig 1¢ lid ivnrk.%h(Ips 170 l)a¥¢ 24 conliniied..
The Loddon Foun(lii lioii Ltd Notes ¢0 the Financial Stli tements - continued for tlie Year Ended 3 1st 11.¢1) 2024 12. STATr'Tr' COS'I"S - ¢ontiniied The number ol'empluyccs ivho.se eniplu.l¢ benetils (excliiding ei))ployL'r p¢iisiun Costs) exieeded £60,000 was.. 2024 202.3 £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 Peiision conlriblilioiis 01 £38,064 (2023.. £29.816) Ivei'e n)ade in I'especi of Ilie abovc einployees. 13. CONIPARATIVLS IIOR THE STATENIEN'f o*" FINANCIAL ACI'IVI'I'Ib:S lJi)restricied fiiiids Resli'iLlcd fund Total riiiids INCONIE AND ENDO1v1EN7's bRONq Donations 6,280 28,0.55 ChAritablii Iictivities Opei'(Itions ol. Ihe scliool Traii)ing ¢ll)(I Ivoi'kshops 7,<)17.128 726,251 7,917,128 726,251 Inve81ineiii inc(?i))e ()thei' iiicoiiie 79,C)$0 2,-300 79,650 Total 8,7.31.6Q9 28,0.f 5 8,759,664 EXPENDITIIRE ON (.'lifii-it:Il)le activities Operalioi)s ol. Ilie sLliool Traiiiiiigj aiid ivork%liops 7,679.-3 74 686,847 28,000 7,707,374 68(I,R47 Totxl 8,-166,221 28,11011 8,194.221 Net gc1ins,1110sses} oli iiivestnienis 164,-774) (64,174} NE'f iN(.'OME -301,014 55 3n1,069 RF.C.'ONC'II,IATION OTr" Tr [IND. Tot¢il tLlI)ds broLigl)I li)rii'ai'd 14.13.1.471) 80 14,333.559 TOTAL FIINI)S C",IRRILD FI)RIVIlRD 14.1134,493 1.35 14.6.34,(Tr?8 P&i¥e 25
The Loddon Foundalion Ltd Notes to tht Fin#nLiAI St*tenients - conliniied for the l'ear F.n(led 3 1st Nlarcli 2024 14. TANC:IBLE FIXED ASSF.TS Assets in the coiirse ol- Lonstr Fixtures aiid rillings Freehold pi'opLrly Molor veliicles I vtdls Ai Isl April 202.1 Addition5 Disposals 9,824,484 15,946 198,915 575,297 212,203 21,645 200,424 7,179 {18,.155) 10,43C),026 620,067 {18,355) At 3141 fv1¢1rcli 2024 9,840,430 774,212 233,848 189.248 11,037,7J8 DEPRE(.'IIlTION Al Isl Api'il 2023 (.'licirge loi. ycai. Elin)inaled oli dispos<il 2,728,31 l 233,045 180,818 11,572 139,423 16,.179 118,1521 3,048,554 260,996 118,1521 At I I st fvlarvh 2024 2,961,1.58 192,1()O 117,650 3,291,198 NET B()OK I'ALIIE Ai .31 sl M¢ll'Lh 2024 6,879,072 774,212 41,458 51.598 7,746,340 Ai .1 I st [l'Cli 2021 7,111)6,171 198.915 7,387,472 FIXEI) 1lSSE.I' INvTr.s"rlfr.N.I.s Li.8led I ARl%Tr:'I' I'AI,IITr: Ai I sl April 2023 1,4.35,$61 153,220 At 31 si Miir¢l) 2024 ,.588,781 NF.T BOOK VAI.UE Ai 31st fvl¢iiclI 2024 1.588,781 At I I sl [al.¢17 2021 ,4.35,561 There ivere nci iiivesti)ieiil asset5 Iocic led oiilside tlie UK. ( ()si or k'alLialion al .31 st Nlll flh 21124 18 I'epre.seiited b).: .isled 'iiliialion iii 2014 1 $88.781 P<q¥e 26
-rhe Lo(l(lon FouD(liltion Ltil Noles to the FiiiqE)ci#l Stji Senients - continiied for ille l'ear Lnileil 3151 Nl#i-£ h 2024 16. DF.BTOR.S: .4NIOIINTS FALLING DUE IVITHIN ONF. YEAR 2024 2023 Trade debt(115 l)Iher del)lors Prepayments andL i ILriie(l inconie 2,054,5.30 21,9$6 138,131) 1.858,314 20,C).36 120.995 2.214,625 1,999,945 17. C.URRENI' ASSL"I' INVES7.11"% 2024 202.3 Uiilislecl invcslniciils 412,-310 505,003 ('.urrei)l assel iiivesli))ei)Is relAle lo sl)vrl leri)I boiids iviih 11)¢ltLiriiie8 ol. n)ore Il)ai) 6 11101i11)s bill less Il)£111 12. 18. C'REI)ITI)RS: *lNIOIIN'I'S FAI,I.ING DIIE WII'HIN ONE I'F.AR 2024 2023 Ti'1( de cr¢(lilors Oililr Lreclilurs ALci'ii<ils 1( l)d deferred iiiLoine 348,784 69,681 2,318.382 270.612 62,644 2,117,3C)2 2,7.1(1,847 2,46(Tr,()()8 Ai tlie }'ear eiid peil5i(111 L()Iilribulii)i)S Lil'£21),284 (2112.3: £22,517) Ivei'e OLII.%lcin(liiigy 4111<1 iiiclLided iii crcdiiors. 19. LLèlSIN(I AGREEMfr.NTS N.1 inii)iiiiii l¢as¢ P¢iyiii¢iiI.% iiiidcr iion-L¢iii¢¢llablL uperalinb leiises li$11 dlie as loll(Iivs'. 2024 202.1 26,76.3 104.3.38 15,751 20,186 Belwcei) Olle 1L l)(1 five ye<ll'S 20. AN.4LI'SIS OTr" NE'I. ASSE'I'S BL'I'II'EEN Tr'IINDS ?024 Llnrcslricled Re511'icle(I Total 7,746,340 1.588.781 8,221,187 (2:736,847} 7.746,3411 1,588,781 8,221,282 {2,73(),8471 7..187.47? 1,4.35.561 8.27S.2CTr.I 12.466,6681 It)'¢S11)ients (".Lll'rent cls.sets C.Iirrent li(Il)iliiiLS 14.819,461 95 14.819,55() 14,6.34.()?8 ioii(illLl¢d...
I'he Loddon Foundatioi) l.td Notes to the FKn#nci#l StAtements - continiied for tlie I'eai. En(led 31 sl Nlareh 2024 21. 101,E1ENT IN FIINDS Net Inoveii)ei)I in funds Translers beliveen tiinds At 31.3.24 At 1.4.23 Unreslricte(I fiiiids CJeiiei'cil fiind Desigiialed fiind - Biiildiiigy developn)ei)I lui)d Dcsign&lied fiind - 1{211] IIoLlSL biiilding project 10.8.14,493 3,800,000 381,061 (190,091) 132.195 1578,120} 11,347,741) 3,U25,787 44.f ,9?5 445,925 14,6.14,493 184.968 14,819,461 RestriLled fiinils 135 {401 95 TOTAI. bllNDS 14,634,628 184.928 14,811),556 NL't movcmcnt in fiiiids, iiiLliidLd in Ihc above al'e ns loll<)Ivs'. Iiicomiii rcsoiirces R¢'soiii'ces exp¢i)de(I Gdins an(1 losses loi'eiiieiil in I'Linds (Inrib%triLted fiiii(Is Gei)criTrl I'lind 9,024,199 (8,796,.1$81 (19(1,11941 153,22U -381,Q(I I {[ ()6,111).i) 9.024,200 18.992,4521 15.3,220 184.()68 Resti'ieteil fiin(l.$ Zc11i1bi¢i I'iii)d 27,015 127,0541 (40) T()Til I, b IIND 9.051,215 (9,019,$071 153,220 184.928 Compar#tii'es (or mvi'ement in funds Nel Inui'eiiiciil Tr&iiislei'5 bLIIvcLII 111 1.4.2? Unrestricte(I fiiii(Is Geiier<11 fiii)d Dcsi¥niiieLI fiiiid - Bliildiiig developiiiei)I luiid I l.0(Tr3,167 3,262.342 7,()70 85.3,117 {i$2.11).31 11,081.7911 1.089.7C) I 17.9701 10.8.14,49_1 3.80n.000 14.333.479 .101,014 14.634.4().3 Restl'iLteil fiiii(Is Zaiiibla fui)d 135 TOTAI, FIIND. 14,3.33,-7.$9 .301.069 14,(}j4,()•S <1¥¢ 28
The Loddon Founiljtioii Ltd
Notes lo the Finiqncial StAtements - ¢ontiiiiied
foi. the l'ear Ended 31st NIAreli 2024
21.
lovEIENT IN FIINDS- continueil
C.oniparative nel ii)oven)ent iii funds, inullided in the &bov¢ are £lS folloivs..
Incoming
r¥5oiirc¢s
R¢'soiirLL5
¢xpenilid
Moveinenl
in fiinds
losses
Vnreytrieted fiiiids
Genei'al fiii)d
Desi&inaled fliiid - Biiildiiig de¥'el()piiieiit fiiiid
8,731.609
17,814,118)
(552,103)
(64.-174)
853,117
{552,10.31
8,7.11,609
(8,166,221 }
(64,.3741
301,014
Reslrieted funcls
Zanibia fund
28,055
(28.nQOI
55
TOTAL FIIND(>
8,759,664
(8,394,221)
(64,-3741
-301,069
A Llirreiil ye
The trfbddon Fouiiclatioi) Lid
Notes to the FinxnciAI StAt¢ments- eonlinued
for the Year Ended 3 1st iIIArcli 2024
21.
MOVF.fvIF.NT IN FIINDS- coiitinued
De.si£nated fiind _ Biiilding Developnient F'iind
The SLI)ool h<iS sel lip a dL5i¥llcltLd fiind to deinoiistrale to Ihircl P<iiliL'S Ilo¢al ?( Uthorilies) Ihe neLd lo gener<ile
siiri)Iiis e(Ich year in order lo modei'nise oiir fdLiliti¢'s.
DL'5i¥nclt¥cl flincl - M41in I1011se Buildiilg Project Fund
Tlie Scliool has sel lip a desigii&?led fiii)d io d¢in(Iiistr¢11e lo third parties IluiJl iiiiihorities) the i)eed to geiier&ile cl
surpliis eiich J'eai. in order lu rL5tvri and refiirbish tlie Inain hoLise on Ilie SLliool site.
r)esigiialed liind - Horliciiliiiral Project I,'und
Tlie Scliuol l)iTrd received a dui)cltioii froii) Dra}Jloii Wlai)oi' whicl) ¢75 iised lor the i)e¥%' oiiidoor classrooni.
Reslricled Fiii)d 7A4in)biil Fliiid
l-IIL' SLliool li<lS I'cieived specific don4ilic)ns for il.% aclivilies in Zaiiibi¢1. Where ILlI)LIs (ll'e di)11¢lled lor a si)ebiliL
pui'pose Il)ey are lleld ii) I'esli'iLled liiiids uiilil Élicy ¢ll'C spei)I tor Ilie piirpo.8e Il)c Joiioi. ii)lended.
22.
F.MPI.OYF.F. BF.NF.FIT OBI,ICIATIONS
ThL ¢harity parti¢ipai¢s in Ilie Teach¢i's' PLnsion Scheme (TPSI for ils leachii)g) slaff.
The I'l)S is Il stci111loi.y. ¢onlribiilorJ, defineil bLI)Lfil sclieine, govei'ned by the Teachers, Pensioii S¢heine RegFiilalj()i)s
2014. McinbLrship is Oli l& 1) opl oiil bilsis tcir l¢'41¢1)crs 111 the chai'ily.
'ri)e 'l'PS is iiii iiiiliiiided n)Lilii-eiiiployei' deliiicd bciictils peiisi0ii .8clieiiic goveriied b}. l-IIL I'e
The Lod(lon Foundation Ltd Notes to the Fin#ineial Statenlents - continiied for the Year F.i)ded 3 1st rcli 2024 22. EMPLOI'EE BENEFIT OBLIGATIONS- continiied 'I'hc Siipcrdiiniialiot) C'onlribiitions Adjiisled for Pclst F.xpei'ienve {SC.APE) discouiil rdlL, sei b!. HMT, is used to determine the notiondl illVL'Stincnt rLlurii. 'I'hL LiirrLnt SL.APL I'aiL is 2.40/0 <1bove the I'al¢ of c'pi, oi) l£1 April 2024 this will Lhange lo 1.7°/0 1< bove Ilie rale of CPI. The assiimed real r1( le of ieliirn 15 2.40/0 in excess o)r priLes arid 20/0 Ill exce55 of oarnin¥s. The i'l< le of real etiri)ings giowth is assiinied lo be 2.20/0. The assiim¢d iiomin¢il ratL' of rLkliirn is The next valiialion $Ll11 is diie tc7 be implemeiiled froni l April 2024. A copy ol. tli¢ Vl¢ liidtioi) reporl ai)d SLlPPC)rtinLJ dociiiilentalioii is available on Ilie Te1( chers, P¢iision ii'cbsitc. 23. CAPITAL CO111TlE.NTs 2024 2023 ('onlraLled biit not provided lor iii Ihe tll)klllCi£i1 slaleit)enls 3,068,787 3,827,000 The Capiliil ¢oininiln)enl is the divclopincnl cost lor Ihc fvlapl¢ Giok'L piop¢i'ly - pl)ase 2 ivorks. solai. panels ai)d Witi acLess poinls. 24. RF.I.,I'I'ED PAR"I'I' Dl.&iC.L()%IIRES As ai 31 sl N.li& I'ch 2024 110 Iiinoiiiils were oived by rcli11cd Piifii¢'s120?.I.. £Nill. Ti)lal (l()iialioiis rcceived Ir(Iiii 'l'i'iislc¢s ainviiiilLd IL7 LNil (202.3.. £29,ooni. Pa&y¢ .31
The Lo(Idon Foun(14tion Ltd
Detailed Statenient of FinaJici&l Activities
for the l'ear Lnded 3 1st Nlai'ch 2024
2024
2023
INC".ONIF4 IIND ENDOWIIIENTS
Dvniitions
Don1¢ lions
Investment income
Rei)Is received
D¥posi( accoiit)t iiiterest
49,395
I l(),()61
56,730
22.920
166,056
7(),650
C.'lixrilable Activities
Opcr
The Loddon FouDdatioi) Lt(I Detxiled Sialement of Finfincinl Activities for Ilie l'ear Ln(led 31 sl Nli)i'cl1 2024 2024 2023 ChariÉ#ble activities Brouglil lonvard Depreci<ilioii of Ireehold property DeprLLialioii of iinprov¢mLnt5 lo property Depreciali()n of- fixliire.s & fittings DLpreci(?lioii of mcilor vehicles DeprLLliilic)ii ot'compul¢i' L(ILliPli)eiit 8,5?9.240 160.078 72,965 2,853 16.379 8,718 7.918,911 161,777 72 1)65 8,1?17 8,790,213 8,201,452 Sui)i)oi'l eo$ts "inknee Oil)er oiiei'lc tiiig) leases 15,564 12,927 Otliei. 7n,826 45,068 45,96? 49,535 Sialy ben¢ fits 11.S,894 95,497 Governance ¢ostS 20,80.1 77,013 .L'g<il fccs 97,816 84,-145 Tiilal rcsolirces cxpeiiLled 9,011).507 8,-394,221 Net incoiiie beforL giiiiis Mii(I losses -31,708 365,443 Reiiliseil rL'tO%lllSL'd gilills ))iiil l<).sse$ RL$11i5ed g¥aiiisill£)%sLs101) lixed <lssII iiivLsliiieiilS 15.3.220 {(14,374 Nei lii¢oiiie 184,928 301,069 'rhis Pic bye Iloes not loi'm part ol-Ili¢ statiitoi'y finaiiii1( l stilteiiienls