THE GRUNDY EDUCATIONAL TRUST Trusto•s' Report and Flnanclal Statements Yèar ènded: 30 September 2022 Charlty no: 1002803
THE GRUNDY EDUCATIONAL TRUST Year ended: 30 Se mber 2022 Contents Page Legal and administr4tlv• Informatlon Report of th¢ Trwt• Rep(Mt ot the Indyndont Examln•r stst•ment of Fln•nclal Actl¥lU 8•1*0 Sh••t Notes fornilng Part of th• ftnanclal stat•mon¢•
THE GRUNDY EDUCATIONAL TRUST Page I al and administrntive inforniallon Status eharlty. No. 1(KJ2403. The trust wgs fomied under a Deed of settle Tl¢h establlshed the oble¢ts and powers of the Tru5tee3 •nd Is governed unthr thtr tem1$ of tho Setuement Do vailed from tlme to tlme by dged In accordance wlth Clau 14 of th• S•ttl1 D•0 Thfr power ol •ppolnllng new tnwto•J l• wst•d In the Settlorn. Trustees Mr M S Hayden A H Hardy Mr¥ S C•rt•r Mr 8 Buckl• Mrs T l[lmI Mr P Annlng 1$0¢rntsry) Reglstered Offlc Jefford Cottg• 3 ParkBlde L•n• Ropley Hamp8hirn S024 OBB Indowndent Examlner Mr R 8 Pnt•r Glenmolr* Gascolgne Lan• Ropl•y Namp•hlr• S024 08T Bankers Lloyds Bank plc PO Box 1000 Hlgh Str••t Wlnche¥t•r BX1 1LT
THE GRUNDY EDUCATIONAL TRUST Page 2 Report of the Trustees for ear ended 30 Se tember 2022 The Trustoes present thelr report and th• unaudlted financial statements for th8 y8ar ended 30 S8Ptèmbèr 2022. Activities The objects for which the Charoty Is establlshed are to advance edueatlon In particular by providing or as515ting in the provision of graduate and po¥t graduats grants and l or loans on such terrns as the Trustees shall decide to students for research and higher leaming at institulion¥ in the United "ngdoM and elsewhere. Results Income from Investments. donatlons and Interest for thè yoor #mount•d to £27,527 12021= t 25.5991 and expendlture amounted to £ 26,67512021- £ 24,8931 Includlng award8 paid ol £ 26.30012021: £ 24,3001. An accounlaney fee of £ 52512021.. £ 0251 hos beèn accrued. The surplus of £ 85212021.. £ 7061 ha8 Increased thè Unr•strleted Income Funds balan¢• to £ 11,50112021 £ 10.6491. At the end of the year there was a Mt depreclatlon of £ 73,041 12021- not appreclatlon of £ 83.0791 In thè value ot the Trt'S Investments. The finanelal statements on pageJ 4 to 6 glv8 detalls of the re8ource8 arfslng In the year and thelr dlsposltlon. Responsibilities of the Trustees Law appllcable to charltle¥ In England and Wales rnqulres thg Trustees to prnpar• flnanclal statements lor each flnanclal year whlch glve a true and falr view of th8 charlty's flnartclal actlvltles durlng th• year and of Its flnanclal posltlon at the ènd ol thg yg•r. In prepang those flnanclal $tat•m•nts. the Trustees are requlred to= - Select sultsblo •¢coUnn9 pollcl•¥ and th•n apply them con8Sst•ntly: - make judgements and èstlmates that are Trasonable •nd prud•nl: and - $tate whother appllcable ac¢ounilng standards and statements of recommended practlc• have been followed 8ubjg¢t to any departures dlsclosed and gxplalnèd In thè flnanclal statements,. and - prepare th• flnanclal 8talemonts on a golng ¢on¢em basls unless 11 Is Inapproprlate to pmumè that the trust wlll contlnue on that bas18. The Trustèes are responslble for kegplng propgr accountSng records whlch dl$¢los• with reasonable accuracy at any tlrne the finanelal poslUon of the charlty and to enabl• them to ensure that the flnancial statements eomply wlth tho Charltles Act 1993. They are also responslble for safeguar(Ilng the 36s•ts ot tho charfty and hence for tsklng reasonablg ¥tsps for the preventlon and dets¢tlon of Iraud and other rregularltles. Approvad by the Trustees and Blgned on thèlr bohalf by: Chairman Date- I >2S
Independent Examiner's Report to the Trustees of The Grundy Educational Trust report on the accounts of the charity for the year ended 30 September 2022 which atr set out on pages 2 to 6. Respective responsibilities of In and examiner The charity's trust¢es are responsible for the preparntion ofthe accounts in accordance with the ternis of the Charities and Trustee Inveslmenl (Scotland) Aet 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees Consider that the Audit requirement of Regulation l O(] ) (d) ot the 2006 AeeouDts Regulations does not apply. It is my resp)nsibility to examine th¢ accounts as required under section 44(1) (c) of the Act and to Sts whether particular Matte have come to my attention. Basls oflndependent examln¢r'y $tsttment My exAmination is carried out in accordancc with R¢gulation I l of the 2006 Accounts Regulations. An examination in¢lLides a review of the accounting records kept by the charity and a comparison of the accounts presented wilh ihos¢ records. It also includes Consideration of any unusual items or disclosures in the accounts and seeks explanalions from the trustees concerning any such mallers. The prdureS undertaken do not provide all the evidencc that would be required in an audiL and consequently I do not exp an audit opinion on the view given by the accounts. IDdep¢nd¢nl tMIller's Jtstement In the course of my examination. no matter has come to my atiention [other than dixlosed below ] which gives me reasonabl¢ causc to bclieve thai in any material respect the requirements.. lo keep accounling records in accordance with Section 44(1} (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulalions io ppAre Accounts which accord with the accounting records and comply with Re8u18tion 9 of the 2006 Accounts R¢gulations hav¢ not be me¢ or lo which. in my opinion. attention should be drnwn in order to enable 8 proper understandinB accounts to be reached. Name: Relevant Profe$sional q]ifICatiOn/prOfesS1olla1 kndy.. GIc&01r 4ascoig"- Addre.. Date: * Please delete the word in brac ets if they do not apply. If the words do apply set out those matters which have com¢ to your attention.
THE GRUNDY EDUCATIONAL TRUST Page 4 (Registered Charity No. 1002803 Statement of Financial Activities for the year ended 30 September 2022 2021 2022 Unrestricted InGome Funds Incorne Dividend$ Donatlons & repayments - gx students Interest Awards - repayable 24,266 1.331 26.800 709 18 26,699 27,627 Expenditure Awards Other expens¢$ Accountsney 24,300 68 626 25.300 850 625 24.893 26,675 706 Surplus for the year 852 Balance brought forward 10,649 10,649 Balance carried forward 11,501 Capital Funds 636,917 Balance brought forward 619.996 83,079 l•ss.- Investment Idepreclatlonllappreclatlon 173,041} 619.996 Balance carried fOard 646,955
THE GRUNDY EDUCATIONAL TRUST Page 5 (Registered Charity No. 1002803 Balance Sheet as at 30 September 2022 2021 2022 603.640 Investh)ents lat selllng Yaluo) 530.499 4.000 COIF Charltles Dep051t Fund 4000 Debtor5 . Awanls rnpayablg Provlslon agalnst awalds repayabl• Awards pald In ad¥anc• 800 Intsrest recelvablg 23.629 Bank account 23,681 631.170 558.981 (6251 Less: Accrued ewmllture (5251 630.646 658.456 619,996 C•pltsl funds 646.956 10.649 Unrgstrlct&d Incom fvnd8 11.501 630.646 658.456
THE GRUNDY EDUCATIONAL TRUST Page 6 Notes forming part of the financial statements for the year ended 30 SeptembeT 2022 1. Accounting policies The flnanclal statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities leffective June 20021 and follow the recommendations In Accounting and Reportlng by Charltles: Statement of Recommendad Practlco Issued in October 2000. Ibl Income Is obtalned through Investments whlch aro Includod at sglllng valuo at the close of business on the balance sheet date. All Income and expendlture Is accountod for on an accruals basis, except that awards during the accountlng perlod for payment In the succeedlng academlc year are accounted for when they become payable. Idl Unrestrlcted funds are the surplus ol Investments less all expendrtures incurred to meet the objects of the charlty. These funds are wlthout further speclfled purpose and they arg avallablg as g8neral funds. 2. Taxation The charltable trust Is ex¢mpt from corporauon tsx on Its charltablg 8¢tlvltles. 3. Investments As at 1 Octobèr 2021- (at selling values) 130,000 COIF Charltles Flxèd Intèrest Fund Incomè Sharns 28.000 M&G Charlfund - Income Units 173,043 430,497 603,540 decrease in the value of the invèstments COIF Charltles Flxed Interest Fund - Income Sharns Depreciatlon 126.8761 M&G Charlfund - Income Unlts Depreclatlon 146,3651 173,0411 As at 30 September 2022 - (at selling values) 130.000 COIF Charities Fixed Interest Fund - Income Shares 28.000 M&G Charifund - Income Unlts 146.367 384,132 630,499 4. Accrued expendituro 2022 2021 Accountsncy fee 1525) {5251