Clubs & Societies
profession. Assistance is almost always given in the form of an interest-free loan, to be repaid when the beneficiary’s financial situation allows, often in instalments; but help may exceptionally be given as an outright grant. The trustees may also transfer up to 5% of the Fund’s assets annually to The Master’s Fund for disbursement to current pupils in connection with one-off co-curricular activities. Trustees The Fund is administered by six trustees, who in 2014 were: Ivor Warburton (57-65; Chairman); Marcus Graham (90-98; Hon Secretary), Nick Rundle (69-76; Hon Treasurer), Trevor Llewelyn (72-79; Geography master), Tom Woudhuysen (97-04; History master); and Peter Petyt (75-81). The Master is invited to attend trustee meetings. Having served for the maximum seven consecutive years allowed by the trust deed, Trevor Llewelyn stepped down as trustee in December 2014. The remaining trustees would like to reiterate their warm thanks for Trevor’s good humour and dedication during his trusteeship.
The remaining trustees will maintain a full complement in 2015 through the welcome arrival of James Rosslyn- Smith (97-04; Mathematics master). David Johns (52-60) was Independent Examiner of the Fund’s accounts, for which the trustees are very grateful. Activity in 2014 The trustees are pleased to report a busy 2014, during which there were 18 Old Alleynian beneficiaries (2013: 14) who had been advanced funds by the OAEF, two of whom completed repayments in full during the year. Loans totalling £27,700 (2013: £18,200) were advanced to seven young OAs (2013: six) during the year. In addition a grant of £5,000 (2013: £5,000) was made to The Master’s Fund that enabled a number of pupils at the College to receive cash contributions towards the cost of educational trips. Donations During the year the Fund received a generous donation from The Alleyn Club. The trustees are very grateful for this donation and extend their very sincere thanks.
Accounts The main features of the accounts for the last three years are shown below:
Year ending 31 December (£)
2012 Independently Examined
2013 Independently Examined
2014 Draft
Investment income
4,785 4,040 9,500
4,663 5,625 2,375
3,695 3,050 1,000 7,745
Loans repaid
Bequests and donations
18,325
12,663
Total income
Loans made
5,700 5,000
18,200
27,700
Grants made
5,000
5,000
167
99
-
Administration costs
10,867
23,299
32,700
Total outgoings
Net income/(outgoings)
7,458 6,226
(10,636)
(24,955)
Change in value of investments
14,296
6,082
Funds at start of year Funds at end of year
104,329 118,013
118,013 121,673
121,673 102,799
Outstanding loans to beneficiaries (see text)
24,885
37,360
62,110
*Outstanding loans are not included as an asset in a formal balance sheet but are referred to in a note to the accounts. The Fund has not suffered any bad debts for many years. Of the year-end funds (which excludes loans advanced to beneficiaries) investments at market value accounted for £83,480 (2013: £96,398) and cash and deposits accounted for £19,319 (2013: £25,275).
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