OLD ETONIAN TRUST(THE)
Financial health, per its FY2023 accounts
The accounts state that total funds were £16.2 million at 31 December 2023, with £7.2 million classified as unrestricted reserves. The trustees consider this level of reserves to be reasonable given investment performance and current demand for bursaries, aiming to maintain cash balances to cover at least one year of forward commitments. The charity reported a net income for the year of £448,372, driven by investment gains, and confirmed there are no material uncertainties regarding its ability to continue as a going concern.
What the accounts disclose
“Total funds were £16.2 million at 31 December 2023 of which £7.2 million were unrestricted. The Council consider this level to be reasonable given investment performance and the current demand for bursaries. The Council aims to maintain cash balances to cover at least one year of forward bursary commitments.”
“The Charity’s investments are administered by Evelyn Partners (formerly Smith & Williamson), which charged custody fees of £25,278 (2022: £26,712) that are included in the Statement of Financial Activities. A Trustee, Mr PAD Inkin, is a partner of Evelyn Partners.” — page 21
“In addition, the Charity had net withdrawals of student bursaries during the year of £16,561 (2022: net awards of £646,033) payable to Eton College. The balance payable to Eton College at the year end was £1,146,973 (2022: £1,571,948). The Trustees Lord Waldegrave of North Hill and Mr Peter McKee are Provost and Vice-Provost of Eton College.” — page 21
“The Charity’s investments are administered by Evelyn Partners (formerly Smith & Williamson), which charged custody fees of £25,278 (2022: £26,712) that are included in the Statement of Financial Activities. A Trustee, Mr PAD Inkin, is a partner of Evelyn Partners.” — page 21
“In addition, the Charity had net withdrawals of student bursaries during the year of £16,561 (2022: net awards of £646,033) payable to Eton College. The balance payable to Eton College at the year end was £1,146,973 (2022: £1,571,948). The Trustees Lord Waldegrave of North Hill and Mr Peter McKee are Provost and Vice-Provost of Eton College.” — page 21
Trustees
- Alexander Thomas van Hoek
- Ashe George Russell Windham
- Charles James Robarts
- Fergus Philip Paul McNeil Boyd
- Henry Lyttelton Alexander Hood
- Peter John McKee
- Piers Alexander David Inkin
- Rory Daniel Oswald MacLeay
- Sir Nicholas David Coleridge
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £415k | £441k |
| 31/12/2023 | £378k | £47k |
| 31/12/2022 | £371k | £680k |
| 31/12/2021 | £332k | £134k |
| 31/12/2020 | £397k | £844k |
Common questions
Is OLD ETONIAN TRUST(THE) financially healthy?
The accounts state that total funds were £16.2 million at 31 December 2023, with £7.2 million classified as unrestricted reserves. The trustees consider this level of reserves to be reasonable given investment performance and current demand for bursaries, aiming to maintain cash balances to cover at least one year of forward commitments. The charity reported a net income for the year of £448,372, driven by investment gains, and confirmed there are no material uncertainties regarding its ability to continue as a going concern. Its FY2023 accounts were audited by Price Bailey LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE TOMLINSON FAMILY CHARITABLE TRUST | 1 | £225k |
| The Brindle Foundation | 1 | £14k |
| DAVID FORBES-NIXON FAMILY CHARITABLE FOUNDATION | 1 | £9k |