THE MAGNUS EDUCATIONAL FOUNDATION
Latest income
£298k
Latest spending
£298k
Registered
1963
Accounts read
FY2023
Financial health, per its FY2023 accounts
The accounts state that total expenditure of £293,793 exceeded total income of £228,927, resulting in a net expenditure for the year. The charity holds unrestricted reserves of £460,218 and endowment funds of £6,322,873, which the trustees consider sufficient to continue as a going concern.
What the accounts disclose
Related-party transaction: R L Watkinson is a Trustee and a partner in Richard Watkinson & Partners... This firm rent two car parking spaces from the Charity at a current commercial annual rent of £990
“R L Watkinson is a Trustee and a partner in Richard Watkinson & Partners, Surveyors, Valuers, Auctioneers and Estate Agents. This firm rent two car parking spaces from the Charity at a current commercial annual rent of £990 (2022 - £990) excluding Value Added Tax.” — page 20
“The Clerk to the Trustees, A Allison is a partner of Knights Solicitors, previously Langleys Solicitors. During the year, Knights Solicitors charged the Charity an amount of £15,000 (2022 - £14,000) for the Clerk’s services and £17,486 (2022 - £6,420) for legal fees.” — page 20
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: The Clerk to the Trustees, A Allison is a partner of Knights Solicitors... charged the Charity an amount of £15,000 for the Clerk’s services and £17,486 for legal fees.
“R L Watkinson is a Trustee and a partner in Richard Watkinson & Partners, Surveyors, Valuers, Auctioneers and Estate Agents. This firm rent two car parking spaces from the Charity at a current commercial annual rent of £990 (2022 - £990) excluding Value Added Tax.” — page 20
“The Clerk to the Trustees, A Allison is a partner of Knights Solicitors, previously Langleys Solicitors. During the year, Knights Solicitors charged the Charity an amount of £15,000 (2022 - £14,000) for the Clerk’s services and £17,486 (2022 - £6,420) for legal fees.” — page 20
Per its FY2023 accounts as filed with the Charity Commission.
Trustees
- Andrew Jonathan Fearnchair
- David Moore
- Esther Ruth Cropper
- GRAHAM CARTLEDGE
- JAMES DERRY
- JAMES HOWLETT
- Judith Johnson
- MICHAEL DAY BEAUMONT CBE
- MICHAEL FURNESS KC
- RICHARD WATKINSON
- Sam Smith
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 05/04/2025 | £298k | £298k |
| 05/04/2024 | £263k | £283k |
| 05/04/2023 | £229k | £294k |
| 05/04/2022 | £232k | £238k |
| 05/04/2021 | £227k | £241k |
Common questions
Is THE MAGNUS EDUCATIONAL FOUNDATION financially healthy?
The accounts state that total expenditure of £293,793 exceeded total income of £228,927, resulting in a net expenditure for the year. The charity holds unrestricted reserves of £460,218 and endowment funds of £6,322,873, which the trustees consider sufficient to continue as a going concern. Its FY2023 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| HABERDASHERS' ASKE'S CHARITY | 1 | £500k |