THE GRUNDY EDUCATIONAL TRUST Trustses, Report and Flnanclal Statsments Year ended: 30 September 2024 Charity no: 1002803
THE GRUNDY EDUCATIONAL TRUST Year ended: 30 Se tember 2024 Contents Page Legal and administratlve Infonnatlon Report of the Trustses Report of the Independent Examiner Statement of Flnanclal ActltIeS Balance Sheet Notes fornilng part of the flnanclal statements
THE GRUNDY EDUCATIONAL TRUST Page I Le al and administrative infomiation Status The Grundy Educatlonal Trust is constituted by Deed of Trust and Is a reglstered Charity, No. 1002803. The trust was fom)ed under a Deed of Settlement which establlshed the objects and powers of the Trustees and is governed under the ternis of the Settlement Deed. as varled from time to tIn by deed in accordanc8 wlth clause 14 of the Settlement Deed. The power of appointing new trustees is ted In the Trustees. Trustees Mr M S Hayden Mrs A H Hardy Mr8 S Carter Mr 8 Buckle Mrs T Wllllamg Mr P Annlng {Chalrnian) {Socr8tary) Reglstsred Office Jefford Cottage 3 Parksidè Lane Ropley Hamp3hlrn S024 OBB Independent Examlner Mr R S Pantsr Glenmoira Gascolgne Lane Ropley HamwJhire S024 OBT Bankers Lloyds Bank pl PO Box 1000 High Street Wlnchester BX1 1LT
THE GRUNDY EDUCATIONAL TRUST Page 2 Re ort of the Trustees for ear ended 30 September 2024 The Trustees present tholr report and the unauditod flnanclal statements for the year onded 30 Sèptember 2024. Activitles The objects for whlch the Charity Is established are to advance educatlon In particular by provlding or assistlng In the provision of graduate and post graduate grants and l or loans on such terms as the Trustees shall decide to students for research and hlghgr learning at Institullon8 In the United Klngdom and èlsewhere. Results Income from Investment8, donatlons and Interest for tho year amountsd to £ 30,593 (2023: £ 31.990) and expendlture amounted to £ 25,807 {2023: £ 16,279) Includlng awards pald of £ 24.50012023: £ 15,000). An accountancy fee of £ 525 (2023: £ 625) has been accrued. Tho surplus of £ 4,787 (2023: £ 15,711 > ha8 Increased the Unrestrlcted Inc(Nne Funds balance to £ 31,99912023 . £ 27,2121. At the end of the year there was a nèt appreclation of £ 34,257 12023: net appreelatlon of £ 23,953) In the value of the Trust's Investments. The flnanclal 8tatemont• on pag88 4 to 8 glvo detallg of the rosources arlsing In tho year and thèir dlsposltlon. Responsibilities of the Trustees Law applicable to charlties In England and Wales requlres the Tru8tseg to prepare flnanclal Statements for each financlal yoar whlch glve a true and falr vlèw of the charfty'8 flnanclal actlvitles durlng the year and of Its flnanclal position at tho end of the yèar. In preparlng those flnanclal statements, the Trustoes are requlr8d to: - select 8ultablo accountlng pollcles and then apply them con8lstently - make Judgements and estlmat88 that aro rea80nable and prudent; and - stato whether appllcablo accountlng standards and statsments of recommended practl¢o hav8 been followed subject to any dèparture8 dl8closed and explalned in the flnanclal 8tat8monts; and - prepare the flnanclal statements on a golng concern basis unless It Is Inapproprlate to presume that the trust wlll contlnue on that basls. The Trustees are responsible for keeplng proper accountlng records whlch dlsclose with reasonable accuracy at any tlme the financial posltlon of the charity and to enable them to ensure that the flnanclal ststements comply with the Charltles Act 1993. They are also respori8ible for safeguarding the assets of tho charlty and hence for taklng reasonable steps for thè prevention and dètectlon of fraud and other Irregularitles. Approved by the Trustees and signed on thelr behalf by: mian Date:
Independent Examiner's Report to the Trustees of The Grundy Educational Trust I report on the accounts of the charity for the year ended 30 September 2024 which are set out on pages 2 to 6. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the ternis of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1 ) (d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination is carried out in accordance with Regulation I l of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not pityvide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no matter has come to Iny attention [other than disclosed below ] which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or to which, in my opinion. attention should be drawn in order to enable a proper understanding of tlie accounts to be reached. Name: Relevant Professional qualification/professional b KJTAtlT . Address: f AscoI4AJF LAbl ofL£Il $0 2* 0£1 Date.. * Pleasc delete the words in brackets if they do not apply. If the words do apply set oiit those matters which have come to your attention.
THE GRUNDY EDUCATIONAL TRUST (Registered Charity No. 1002803) Page 4 statement of Financial Activities for the year ended 30 September 2024 2023 2024 Unrestricted Income Funds Income Dlvidends Donations & repayments - ex students Interest Awards - repayable 27,274 4.569 147 28,185 2,204 204 31.990 30,593 Expenditure Awards Other expenses Accountancy 15.000 754 525 24,500 782 525 16,279 26,807 15,711 Surplus for the year 4,787 11,501 Balance brought forward 27,212 27.212 Balance carrled forward 31,999 Capital Funds 546,966 Balance brought forward 570,908 23,953 Investment appreclatlon 34,257 570,908 Balance carried forward 606,165
THE GRUNDY EDUCATIONAL TRUST (Registered Charity No. 1002803) Page 5 Balance Sheet as at 30 September 2024 2023 2024 Note 554.452 Investments (at selllng value) 588,709 4,000 COIF Charltles Deposit Fund 4,000 4,500 14,500) Debtors ". Awards repayable Provision agalnst awards repayable Awards pald In advance 4,500 (4,500) Interest rocelvable 40.192 Bank aGcount 44,979 598,646 637,689 (625) Less: Accrued expendltura 1626) 598.120 637,164 670,908 Capltal funds 805,165 27.212 Unrestrlctsd Income funds 31,999 698,120 637.164
THE GRUNDY EDUCATIONAL TRUST Page 6 Notes fomiin art of the financial statements for the year ended 30 September 2024 1. Accounting policles (a) The financlal statements have been prepared under the historical cost convention and in accordance with the Financial Reportlng Standard for Smaller Entities (effectfve June 2002) and follow the recommendatlons in Accountlng and Reports'ng by Chariues.. Statement of Recommended Practjce issued in October 2000. (b) Income Is Obtslnod through Investments whlch are Included at selllng value at the close of buslness on the balance sheet dats. (c) All Income and expendlturn Is accounted for on an accruals basls, except that awards durlng the accountlng perlod for payment In the succaedlng academlc yèar are accounted for when they become payable. (d) Unrestrlcted funds are the surplus of Investments less all expenditures Incurred to meet the objects of the charlty. These funds are wlthout further specifled purpose and they are available as general funds. 2. Taxatlon The charltable trust 1$ exempt from Corporatlon tax on Its charltable actlvltles. 3. Investments As at 1 October 2023 - (at selllng values) 130,000 COIF Charltles Flxed Intgrest Fund - Income Share8 28,000 M&G Charifund - Income Unlts 153,764 400,688 554.452 change in the value of the investments COIF Charitles Flxed Interest Fund - Income Shares Appreclatlon 9,698 M&G Charlfund - Income Unlts Appreclation 24.569 34.257 As at 30 September 2024 - (at selling values) 130,000 COIF Charities Flxed Interest Fund - Income Shares 28,000 M&G Charlfund - Income Units 163,462 425,247 588,709 4. Accrued expenditure 2024 2023 Accountancy fee (625) {525)