The Record Charitable Trust

Quick Stats

• Annual Giving: £250,644 (year ending April 2024)
• Success Rate: Not publicly disclosed (nomination-based system)
• Decision Time: Annually (schools notified in time for placement offers)
• Grant Range: Full school fees (approximately £15,000 - £25,000+ per year per student)
• Geographic Focus: England and Wales (16 partner schools across northern, southern, eastern and western England)

Contact Details

• Website: https://www.recordst.co.uk/
• Email: trustadminliverpool@rathbones.com
• Phone: 0151 236 6666
• Trust Administrator: Rathbones Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool

Overview

The Record Charitable Trust (Charity Number 1197459) was established on 21 October 2021 by Neil Record, founder of Record Currency Management and former Chairman of the Institute of Economic Affairs. The Trust's mission is to advance the education of young people throughout England and Wales by making grants, awards, scholarships and bursaries to secondary school students in full-time education.

The Trust operates the Record Scholarship Trust, which provides full-fee scholarships to academically gifted children from lower-income families to attend leading independent schools. Neil Record was inspired by his own experience: after his father died when he was seven, both he and his brother received funded places at Magdalen College School, Oxford, which transformed their lives. The first Record Scholars started at their new schools in September 2023.

The Trust currently has £250,644 in annual expenditure and is funded entirely by a single donor (Neil Record). It can sponsor approximately seven full scholarships (or equivalent) per year across 16 carefully selected partner schools.

Funding Priorities

Grant Programs

• Full-Fee Scholarships: Cover complete school fees from entry through Year 13 (typically £15,000-£25,000+ per year)
• Partial Scholarships: Schools and the Trust may share support costs for partial awards
• Entry Points: Age 11 (Year 7) is typical, though entry at 13, 16, or other points is possible

Priority Areas

• Academically gifted children from lower-income families
• Students seeking places at one of the 16 partner independent schools
• Secondary school education (senior school level)
• Social mobility and access to high-quality education

What They Don't Fund

• Direct applications from families (must be nominated through partner schools)
• Schools outside the partner network
• Primary education
• Students outside England and Wales

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Governance and Leadership

Trustees

| Name | Role | Appointed |

|------|------|-----------|

| Neil Peter Record | Chair | 21 October 2021 |

| Katy Alison Wealthall Carver | Trustee | 21 October 2021 |

| Robert William Record | Trustee | 21 October 2021 |

No trustees receive remuneration, payments, or benefits from the charity.

Key Personnel

Neil Record (Founder & Chair): Born 26 June 1953 in Oxford, Neil founded Record Currency Management in 1983 and served as Chairman until retiring in 2023 after 40 years. His company floated on the LSE in 2007. He was Chairman of the Institute of Economic Affairs from 2015-2023 and is now Life Vice-President. His personal experience of receiving a scholarship after his father's death motivated him to establish this Trust.

Andrew Halls OBE (Director): Former Head Master of King's College School, Wimbledon (over 13 years) and previously Master of Magdalen College School, Oxford (10 years). He received an OBE for services to education in 2020. Currently Honorary Principal of King's College School, Bangkok, and an educational consultant focusing on school improvement.

Advisory Committee

• Sue Woodroofe: Former principal of The Grammar School at Leeds; 2025 TES Independent Headteacher of the Year
• Alex Frazer: Head of Bancroft's School; committed to bursary initiatives

Founder's Philosophy

"The Record Charitable Trust's scholarship programme is an attempt, in a very small way, to provide additional social mobility at a time when, for far too many children, the wealth of their family predetermines their own success in life." - Record Scholarship Trust website

Application Process and Timeline

How to Apply

This funder does not have a public application process for families.

The Record Charitable Trust operates through a nomination-based system:

1. Only the 16 partner schools can nominate candidates for consideration
2. Families cannot apply directly to the Trust
3. Partner schools identify suitable candidates through their admissions process
4. Financial needs are validated by the partner schools
5. The Trust then selects award recipients from the nominated candidates

Partner Schools (16 Total)

• Bedford School
• Birkenhead School
• Bristol Grammar School
• Emanuel School (London)
• Exeter School
• King's College School, Wimbledon
• The Grammar School at Leeds
• Leicester Grammar School
• Magdalen College School, Oxford
• Norwich School
• Nottingham High School
• RGS Newcastle
• St Dunstan's (London)
• Whitgift School (London)
• Withington Girls' School
• Wolverhampton Grammar School

Getting on Their Radar

For Schools: The Trust has deliberately selected partner schools from across England to achieve geographical diversity. Schools wishing to become partners would need to demonstrate commitment to supporting bright children from a range of backgrounds.

For Families: The primary route is through the admissions process at one of the 16 partner schools:

1. Apply to one of the partner schools through their standard admissions process
2. Indicate interest in bursary support during the application
3. Demonstrate strong academic ability through school assessments
4. The school will assess financial need and consider nomination

Decision Timeline

• Schools nominate candidates during their admissions cycle
• The Trust selects recipients and notifies schools in time for placement offers
• Awards are made annually with capacity for approximately 7 full scholarships (or equivalent)

Scholarship Terms

• Awards cover fees throughout the child's school career through Year 13
• Scholarships terminate if the student leaves before completing Year 13
• Subject to terms and conditions of the contract between the Trust and the awarding school

Application Success Factors

What Makes a Strong Candidate

Based on the Trust's documented priorities:

• Academic excellence: Must demonstrate strong academic ability through the school's admissions assessments
• Financial need: Family circumstances must be validated by the partner school
• Alignment with mission: The Trust prioritises “bright children whose families would like them to study at outstanding independent schools” but cannot afford fees

Selection Criteria

The Advisory Committee, led by Director Andrew Halls, oversees the awards process. Given Andrew Halls' extensive experience leading Magdalen College School (where founder Neil Record attended) and King's College School, Wimbledon, the selection process draws on deep expertise in identifying academic potential.

Partner School Selection

Schools are chosen based on:

• Commitment to supporting bright children from diverse backgrounds
• Geographic location (ensuring coverage across north, south, east and west of England)
• Academic reputation as “outstanding independent schools”

Key Takeaways for Grant Writers

1. Nomination-only system: Families and organisations cannot apply directly; contact must be through one of the 16 partner schools
2. Focus on social mobility: The Trust specifically targets academically gifted children from lower-income families who would otherwise not access independent education
3. Limited capacity: Only approximately 7 full scholarships available annually due to single-donor funding
4. Full commitment: Scholarships cover the entire secondary education through Year 13
5. Geographic diversity: Partner schools span England to ensure regional access
6. Schools as gatekeepers: The partner schools validate financial need and identify suitable candidates
7. Personal mission: Founded by someone who directly benefited from similar support, giving the Trust an authentic commitment to its cause

References

• Charity Commission Register of Charities - The Record Charitable Trust (Charity No. 1197459): https://register-of-charities.charitycommission.gov.uk/charity-search/-/charity-details/5187759
• Record Scholarship Trust official website: https://www.recordst.co.uk/
• Wikipedia - Neil Record: https://en.wikipedia.org/wiki/Neil_Record
• Leicester Grammar School news article on Neil Record's scholarship pledge: https://www.lgs-senior.org.uk/news/?pid=21&nid=4&storyid=299
• Accessed: December 2024