THE GRUNDY EDUCATIONAL TRUST Trusteès. Rèport and Financial Statements YeaT 8nded: 30 Sèptamb•r 2020 Charlty no: 1002803
THE GRUNDY EDUCATIONAL TRUST Year onded: 30 September 2020 Conlants Page Legal and admlnlstrative irrformation Report ot the Truste85 Report ol the Independent Examiner Statement of Flnancial ktiviii•s Balanco Shett Notss fr>rnilng part ol thè finandal statem•nts
THE GRUNDY EDUCATIONAL TRUST Page 1 Legal and admlnlslrative infomiation Status The Grundy Educatfjonal Trust Is constiw by Dg8d of TTrt and is a registered charity, No. 1002803. The trust was fomied under a Deed <rf sttMent which established the obletts And powers of the Trn8tees and is governed under the terms ot the Settl&ment Deed, as varied from tfime to time by deed in aeconlance with clause 14 01 thÈ Settlement Oegd. power of appointlng new trn81 1$ bsted in th• Seltlors. Trustees Mr M S Hayd•n A H Hardy MT5 S Cart•r Mr B Buckle MYS T William3 Mr P Anning (Chairman) (Secretary) (Appoint¢d 14th March 20201 Reglstered Offlce Joff¢Yd Cottag• 3 Parksid• Lan• Ropley Hampshlr• S024 088 Independenl Examlner Mrs J A Forrtt$t Stavordalè Station Hill RoplÈy Hampshirn S024 OBL Bankers Lloy(ts Bank PO Box 1000 High Street Imnchester BXI ILT
THE GRUNDY EDUGATJQNAL I Kub I Page 2 Report of the Tntstees for r 2020 The objects forwhich th8 Charity is e$lr& arvto l¥ance education in ticular ty providing or assistiThJ in the provision of graduate and post gradt gmts and l or <)n t•rffts a5 Trttstees shall dècide to stsmknts for Results 12019: £ 30,546) and eXpendire comprpsiNJ awards of£ 23.8cK) {2019.. £ 24.C¥)Oj have bn pald. An a¢¢ountancy fee of £ S2512Q19: £ 525) has tse8n a¢¢ru• The Sufplus of£ 483412019: surplus of £ 45611 has Increasod the Unrestrlcted Income Funts balance to £ 9.943. Attr end otthe yeartlwe VAS a net thwBciion of£109.473 {2019: net apprnclatl¢)n of£ 10.176) in thevalu8 of th• Trwts Im8S the yand thelr dlsposttlon. Rosponslbllltles of the TnBte Law applfi¢able to ¢hiti0s in ErnrnI and Wales requires the Trustees to prepare financial stat•ments for financial y•arwhh ge a and fair vlgw of the Glwity's financlal actsths dwirva th? year and of Its finan¢lal position at the end of practlce beefi follo1 subject to any depathrns dis¢los•d and •xplainod In th9 fmw¢lal slat9m. arwj The Trustees are responsible for keeping proper acc¢)unting reconts whlch disclose with reasonable accuracy at any time the finE101 posilion ofthe charty and to enable th8m to ensure that the fln3ncial stat• comply with thtr Chan"ties Act 1993. They arg also wOrtsib forsafeguardirty the assets of the chwity and hencofor laking reasonablesteps forthe prcventfion artd dètectlon of fraud and othèr Ine9antles. Approv by the Trustees and slgngd on thrIall lyf. Chairman
Page 3 INDEPENDETrTh EXAMINER'S REPORT ON THE FINANCIAL sfATEMEMfs TO THE TRusfEES OF THE GRUNDY EDUCATIONAL TRUST I have examined the financial statements on pages 4 to 6 which have been prepared in accordance with the accounting policies set out on page 6. Respective responslbllltles of the Trustee5 and Independent E¥amlner As described on page 2. the Trustees are responsible for the preparation of the financial statements of the Trust. The Trustees consider that an audit is not required for this year under sertion 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. It is my responsibility to: examine thefinancial ststements under5ection 145 of the 2011 Act; follow thè procedure5 laid down in the General Directions given by the Charity Commission (under section 14515llbl of the 2011 Artl,. and state whether particular rnatters have come to my attention. Basls of the Independent Examlnees Statement My examlnation was conducted in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or distlosures in the financial statements and seekin8 explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that vlould be required in an audit and consequently no opinion is given as to whether the financial staternents present a 'true and fairf vlew and the report Is limited to those matter5 set out in the ststement below. Independenl Examlnerfs Statement During the course of my examination, no material matters have come to my attention which gives rne reasonable cause to believe that in any material respert: al proper accounting records were not kept in attordance with Section 130 of the 2011 Act; or bl the financial ststements for the year ended 30 September 2020 did not accord with the accounting records: or c) the financial statements did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAecounts and Reports) Regulations 2(N)8 other than any requirernent that the financial statements give a 'true and fairf view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with rny examination to which attention should be drawn in this report in order to enable a proper understsnding of the financial statements to be reached. J KofCQrt Jayne Forrest Independent Examiner. Stsvordale, Ststion Hill. Ropley. Hampshire. S024 OBL
THE GRUNDY EDUCATIONAL TRUST Page 4 {RegiStered Charity No. 1002803) Statement of Financial Activities for the year ended 30 September 2020 2019 2020 Unrèstricted Income Funds Income Dfvldends Oonatit*ns & rep•ymènts - siudents Interest Awards- repayable 28.592 1,902 52 28,312 1,103 17 30.546 29,432 Expondlture Awards Other expens0$ A¢¢ountancy 24,000 1.460 525 23.800 273 525 25,985 24,598 4.561 Surplusl(Deficit) for the year 4.834 Balance brought forward 5.109 5,109 Balan¢è carrled forward Capltal Funds 636.214 Balance brought fonyard 646.390 10.176 add." Investment appreclatlonl(deprnciation) (109.473) 646.390 Balance carrled forward 536,917
THE GRUNDY EDUCATIONAL TRUST Page 5 {Registered Charity No. 1002803) Balance Sheet as at 30 September 2020 2019 2020 629.934 Inv8stm&nts (at selling value) 520.461 4.000 COIF Charities Oeposit Fund 4.000 4.500 (4,500) Debtors . Awards repayable Provlslon agalnst awanls repayabl& Awards paid in advan¢• (4.5001 Intsresl re1Vable 18.089 Bank account 22.923 6S2.024 547.385 (525 Less: AcGnl expèndlture (5251 651,499 546,860 646,390 Capital funds 536.917 5.109 Unr•strlctad Ineom funds 651,499 $46,860
THE GRUNDY EDUCATIONAL TRUST Page 6 Notes forming part of the financial statements for the ar ended 30 September 2020 1. Accounting policies {a) The financial sements have been prepared undèr the historical cost convention and in accordance with the Flnancial Reporting Standard for Smallèr Entitiès (èffècti ju 212} and follow the recommendations In A¢countlng and Reporting by Charities: Statement of Récommended Practice issued in October 2000. Ib) Income Is obtalned through InvÈstrnents which are induded at selling value al the close of business on the balan¢0 shèèt date. (c) All incom• and èxpènditurè is accounted for on an acclS basls, except that awards during the accounting period for paymènt in the succeeding academic year are accounted for when they become payable. Id) Unrastrfcted funds arè tho surplus of Investments less all expendituw incurred to meet the t)bJe¢ts ol the charity. These funds are wIt1ul fvrthtr specified purpose and thoy are availablè as pneral funds. 2. Taxatlon The charitable t$t IB exempt from corporation tax on It8 charitable acllvltles. 3. Investments As at 1 October 2019 - (al selling values) 130.000 COIF Charities Fixed Interest Fund- Incom• Shares 28,000 M&G Charifund - Income UnSts 185,042 444.892 629,934 Decrease In the value of the inveslments COIF Charities Fixed Interesl Fund - Income Shares Depreciation (1.6251 P•l&G Charlfund - Income Unlts Depreciation 1107,8481 {109.4731 As at 30 September 2020 - (at selling values) 130.000 COIF Charltles Fixed Interest Fund - IrKome Shares 28.000 M&G Chafifund- Income Unlts 183.417 337.044 520.461 4. Accrued expenditure 2020 2019 A¢¢ountancy fee (525) {5251