Chaffty registration numbpr 103LMXIZ HAWKSHEAD GRAMMAR SCHOOL FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION LEGAL AND ADMINisfRATIVE INFORMATION Trustees J Myer5 Revj Dixon C SalbUry R Brown M Sandys A Stt)ker l Moulton R Bonham G whOrth (Appointed 21 June 20231 Charlty number 103COJ2 Prfncipal address Scutcheon House Fam Far Sawr Ambleside Cumbriz LA22 OLQ Independewrt examiner Ian Thompson FCA Saint & Co Chartered Accountants The Old Police Station Church Street Ambleside Cumbria LA22 08T
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION Trustees. rep)rt Independent examiner's rep Statement of finanoal activikn Balance Sheet Notes to the financial swments 7-18
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 The trustees present their annual report and financial statements forthe year ended 31 (ktober 2023. The financial statements have been prepared in Co(danCe with the accounting policies set out in rnote i to the financial Statements and comply wth the charTty's Igoverning documentl. the Charities Art 2011 and -Accounting and Reportin8 by Charitie5'. Statement of Recommended Practice applicable to charit4e5 preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepublK of Ireland IFRS 1021" (effective l January 20191. Oblectlve5 and actl¥ftles Hawhead Grammar School Foundation was set up in 158S by Edwin Sandys, then Archbishop of York. under Letters Patent from aueen Elizabeth l. for the purpose of running a boys. grammar school. It did so for over 3(KJ years until the school closed in 1909. The Foundation now runs the school as a museum and continues to provide education31 and vocationèl grants (known a5 Sandys Exhibitionsl to young people from the Ancient Parish of Hawkshead. Ir also owns and lets various endowed properbes in the village. These rents. income from its investments. and ffluseum entrance fees. provide the main sources ol income. In 202¥23, applications for educatyonal and WOCional grants were invited for submis%on 3t the start of the academic year in September, so that all appli(ations could be considered together, and fair and equitable allocations made within the grant budget. Grdnts are made to younR people between the ages of 1&25 studwng at a recognised university, colle8e, apprenticeship or similar ellatiOnal facility- They must reapply for each year of their course, and in second and Subseque years rnust provide evidence of satisfactory attendance and Ults frorn their previous year. In 202W3. in recognition of the fact that there is limit assstanie WEth the cost of transportation to schTh)l or 6th tom) colleges for 16-18 year olds. and all young people must travel outside the parish to attend a xhool or 6th forrn college. the Trustees a8reed to continue the smaller grants for a55i5tance wirh transportration which were started in 2019. This enables the grant programme to benefft a greater proportion of the young people in the parish. Efforts made to broaden publicity for the grant5 continue to encourage a variety of applicions and in 202¥23 the following grants were awarded.. eleven for the uni¥ersity/colle8elapprentiC£5hip grant and seven for the transportation assistance grènt. Total disbursement was £12.767. The Trustees are satisfied that the 8rnnt5 are now reaching most ol the eligible young people in the parish. Public beneftt The trustees have paid due rrd to guidance ssued by the Charty Commission in detiding what actNities the charity should undertake.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION TRU5fEES' REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Achlevemefvts and performance Slgnificant QttAVities ond ochievements ogoinrtobRcfrts Improvements at the museum continued in 2023. 14ew temporary e¥hibttiOll5 were installed, more family-friendty activities were introduced, and shop merchandise was expanded. Openin8 day5 were increased to include daily opening during school holidays to reflect visitor demand. lrtemational tour vists L)UndE¥J strongly and althou8h not quite back to pre-pandemic leve15, V15itor numbers from tours increased by 40% over 2022. cerall. visitor numbers In(ased by 13% over 2022 and were higher than 2019. Diffent approache5 trj raising the museum profile and attrlln8 new visitors continue to be explored. Museum management and development continues to be overseen by the Direttor. The Irbrary cataloguin8 and repair projert continues thth a small team of volijnteers. About 30% of the books have been catalogued and volunteers are thined to do a range of minor repairs. Enquiries from academics and historians about the school and library continue to grow. Future phases of the projert will consider devdoping grant prow)sa15 to fund the costs of cataloguing. conservation, and preservation. Income frorn property rental has increased slightly due to a full year tenanty at the School House Barn and rent increases following 3 yearly rent reviews at Old khool House B&B and School House Cotta8e B&B. It is Trustees, intent to allocate porbon of funds each year to rernedial mainfenance attwity. In 202123 this included treework across all properties to address OUtstsndin8 rernedial worl and repairlreplacefflent ofthe downpipes and guttering at the Museum Cottages. Investments have 8150 recovered in line wtth the recovery of the stock market and investment income 15 close to pre-pandemic levels. Interest income has recovered in line wrth bank interest rates. The Foundation Sbll ha5 considerable cash reserves. sufficient to cover Several years of operating expenditure. The Trustees regular review the risks opportunttTre5 by the Foundation and make plans accordingly. The Foundation's reserves policy designaes a portion of reserves for property rnaintenance. a portion Of reserves for future conservaiion and ifflprovements to the library. and a further portN)n of reserves for future property developmenr. The policv also places a limit on the proportion of unrestricted reserves held in investments and pre5cribe5 a minimum operating reserve proportional to fixed operating costs. Financial PTocedureswere a150 reviewed and appVed by Trustees. Flnartclal revlew Income from all sources has increasEd compared to 2022. and together conrributed £69.37912022.. £62,485). This was largely due to a 14% increase in museum admissws and shop sales I£L7351. a 9% incTease in rentsl income1£3.6601, and the resumption of inter1 incowne1£3.7431. Expenditure was sli8htly higher than the pre0v$ financial year at £76.612 12022- E76.3021. Museum operatin8 costs and educational grarnt expenditure remained broalty similar. Totsl annual expenditu wll continue to fluctuate based on the timing and needs of the maintenance programme. Expenditure 15 experted to Ma[H close to this level due to necessary property maintenance. the development of the library con5ervion projett and the Trustees. commitrnent to to ensure the educational grants support as many y¢)ung people in the parish as possible. Investrnents regittered a loss of £2.16412022: £15.6291. (knrall. the charty ran 8 105$ of £9,397 in the year ended 31 Cttober 2023, versus a loss of £29.446 in the year ended 31 Lktober 2022. At the reporting date reserves had decased to £323,318,310 from £327.707 at the previous reporting date. Reserves policy It ts the poliry of ihe chartty that unrestricted funds whKh have not been desenated for a specific use should be maintained at a level equNalent to between three and six month's expenditure. The trustee5 consider that reserves at this level will ensure that. in the event of a Significant drop in fundin& they will be able to (ontinue the charty's current attivities while consideration is w.ven to ways in which additional fvnds may be raised. This level of reserves ha5 been maintained throughout the year.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 ocn?BER 2023 Plans for future periods The Foundation continues to operate in good financial heatth. Visitor tootfall to the museum in 2023 increased 13% over 2022 aKdill5t 3 more challenging outlook for the wsitor economy. New rotating exhibition5 have been instslled in 2024 and the Head'5 Study has been opened to wsitors th a permanent Wordworth display. increasing exhibition space. Admi55ion5 price5 have been increased in 2024 to reflert the rise of increased fixed operating costs. however to offset this, a discounted Family Pass has been introduced as parr of the focus on attracting a broader range of wsitors. The staff continue to explore ways of ra15ing awareness of the rnuseum and library both localfy and further ar. strucle. governan and manaeement The Foundation has 6 representative Trusiees apw)inted by various local authorities and one by the Carlisle Diocese of the Church of England, and up to three co-optative Trustees appointed by the governing body. Appointrnent5 are for five years and are renewable. The Trustee5 normalty meer at least a year (usually Lktober and April, and on other occasions as requiredl to consider grant applEcations and to manage the affairs of the Foundation. including management and maintenance of the endowed properties. Decisions are tllade to ensure that lunds a available to maintain the efficient running of the Foundation, with the goal of continuwl provision of educational grants and 5UStainable operntions atthe rnuseum. Recruitment ond oppointmentoftrustees The trustee5' report was approved bythe Board ofTwstees. M Sandys Tw5tee Date..
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION INDEPENDEMf EXAMINER'S REPORT TO THE TRusfEES OF HAWKSHEAD GRAMMAR SCHOOL FOUNDATION I report to the trustee5 on my examtnation of the financial statements of Hawksheal Grammar School Foundation (the charity) forthe year ended 31 (ktober 2023. Responslbllltles ènd basi5 of report As the trustee5 of the charity you are r£snSIble for the preparation of the financial statements in accordance with the requirements of ihe Charr(ie5Act 2011 lthe 2011 P£tl. I report in respett of my examination of the charitVs financial ststew*nts carried ovi under section 145 of the 2011 Art. In carrying out my exaMinatn I have lollowed all the applicable Oirection5 given by the Charity Comrnis5ion under sectlon 14515llbl of the 2011 Att. Independtrrt examiWs statement Your attention is drawn to the tact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charitses preparing their accounts in accordance wr(h the Finanaal RerKJrting Standard applicable in the UK and Republic of Ireland IF$ 1021 in preference to the kcouniing and Reporting by Charities.. Ststement of Recommended Prattice issued on l April 2W5 which is referred to in the extant regulatn5 but has now been thdraVrn. l understsnd that this ha5 been done in order for financial statements to provide a true and fair view ITh accordance with Generally ACpted Accounting Practice effettr¥e for reFK)rting pernds b"nnIng on orafter l January 2015. I have completed my examination. I confimi that no matte15 have come to my attention in connection wth the examination giving me cause to believe th3t in any material respec accounting records were not kept in respett of the charity a5 QuIred by seLtion 130 ofthe 2011 Att: or the financial ststements do not (Ord with those record5." or the financial Statements do not Comp with the applicable requirements conceming the form and content of accounts set out in the Charities IAccounts and Reporrsl Regulation5 2)8 other than any requirement that the accounts give a true and fair view which is not a matter (x)nsidered as part of an independent examination. I have no concwns and have come rosS no other matters in connection the examination to which attention Should be drawn in this report in order to enable a proper understanding of the ffinancial ststements to be reached. laTrThrKnpson FCA Saint & Co Chartered Accountants The Old Police Station Church Street Amble5idE Cumbria LA22 OBT Dated..
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION STATEMENT OF FINANCIAL AcnvmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 Tt)tal funds 2023 funds 2023 fund5 2022 funds 2022 2023 2022 Notes Income from: Doniofts and legacies Charitable activiues Othec trading activr(ies InVtMents 394 12,741 1,508 54,736 394 3,082 11,497 1,017 46,889 3.082 11,497 1,017 46,889 12.741 1.508 54,736 Totsl income 69,379 69.379 62.485 Expendfture on: Raising funds Charitable activ¢tyes Other expenditure 87S 875 542 542 68.177 7,583 65.688 10.049 68.177 7.583 14 10.049 Totsl expenditure 76,612 76.612 76,302 76.302 Net 8ain51llossesl on inve5tmÈnts Is 12.1641 12.1641 115.6291 115,6291 Net xpendlture and mo%*ment in funds 19.3971 19,3971 129,4461 129.4461 Recondllatlon of funds: Fund balances at l November 2022 270,271 57.436 327.707 299.717 57,436 357,153 Fund b•lances at 31 Lktober 2023 2EII.874 57.436 318,310 270.271 57.436 327,707 The staternent of financial activitses includes all 8ains and recognised in the year. income and expendff(ure derive from continuing attrvtknes.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION BALANCE SHEEr ASAT31 OCTOBER 2023 21n3 2022 Fixed assets Tangible assets Investments 17 57.436 147,626 57.436 149.790 205.C62 207,226 Current assets Stocks Debtors Cash at bank and in hand 19 1.744 5.378 124.868 1,020 6,405 124.513 I31.1 118,7421 131.938 111,4571 Creditors: amounts falling due wlthln one ar 21 Net cuTherrt a55ets 113,248 120.481 Totsl assets re Cunt liabilitles 318.310 327.707 Net assets exduding pen51on Ilablllty 318,310 327.707 The funds of the charlty Endowment fund5 Unre5trirted funds 57,436 260,874 57,436 270,271 318.310 327.707 The financial ststements were approved by the tru5tee5 On......................... M Sandys Trustee l Moulton
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Accounti policiÈ5 Charlty Inlrym•tion Hawk5head Grdmmar School Foundation is a a public benefft entity and a registered charity in England and Wales. The address of the principal office is 5cutcheon House Farm. Far Sawrey. Ambleside, Cumbria LA22 OLQ. The Hawk5head Grarnmar School museum at)d library is Situated at Main Street. Hawkshead. Cumbria L422 ONT. 1.1 Accountlng con¥entlon The financial statements have been prepared in actordance with the char.5 Igoveming documentl. the Charities Act 2011, 102 -The Financial Reporting Standard applicable tn the UK and Republic of Ire13nd° I"FRS 102-1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Prattice applieable to charities preparin8 their accounts in accordarKe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" lefFective ljanuary 20191. The charity is a PublK Benefit Entity as defined by FRS 102. The charity has tsken aYvant3Re of the provisions in the SORP forcharities not to prepare a Ststement of Cash Flows. Tre financial statements are ppared in 5terlin& which the furKtional currency of the charty. Monetary amount5 in these financial statements are rounded to the nearest £. The financial statetnents have been prepared under the historical cost convention. The principal accounttng policies adopted are set out bek)w. 1.2 Golng concern At the time of approving the financial gatements, the trustee5 have a 0$Onable expectation that the charity has equate resources to continue in operational existence for the foreseeab futu. Thus the trustees continue to adopt the going concern basis of accountin8 in preparin8 the finanual statements. 1.3 Charltsble fvnd5 Unrestricted funds are available for use at the discfetion of the trustees in furtherance of their charitable objectives. Restrirted fund5 are subject to specific conditions by donors or grantors as to how they may be L. The purposes and uses of ihe re5trirted funds afe set out in the Th)tes to the financial statements. Endowment funds are wbject to specFfic conditK>ns by that the capital must be maintained by the charity. Endowment funds, representing freehold land and properties stated at C05t, are held for the benefit of the charity as capital funds. The lettings income and associated expenditure is unrestricted. IA Income Income is recognised when the charity is legal entitled to it after any perlDrmance CondOn5 have been meL the amounts can be measured reliabty. and li is probable that income wll be reteived.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Accourtlni polldes IContinuEdl 1.5 Expendituwe Expenditure is recognised once there is a legal or tonstructNe obligation to tTrnsfer economic benefir to a third party. it is probable that a rransfer of economii benefits will be required tn settlemenL and the amount of the obligation can be Measur lIablY. Expenditure 15 Clsled by xrNity. The costs of eh activtty are made up of the total of direct costs and shad costs. including supwrt Costs inVoed in undertaking exh actwity. Direcr costs atributable to a sinJe attNity are all(xated direttly to that lty. Shared costs which contribute to more than one aCtIty and support costs which are not attributableto a *ngle actNity ère apportioned between those activrfties on a basis con5i5tentwith the use of resources. Costs that are shared by the Museum and the Ubrary a aPptsrned on an estimated arealconsumption basi5 01 87.5% and 12.5% to the Museum and knbrary activities reSpectr¥e. Governance costs are primarily associated with the charity's constitutional and statutory obligaknons. 1.6 Tan8lble fixed assets Tangible fixed assets are initially measur1 at C05t arbd sub5equentyy measured at cost or valuation. net of depreciation and any impairment losses. Items under £750 are not capitsli5ed and are wrrllen off to expendtture in the Statement of financial attivities when the asset 1$ 3cquired. DeptIatIon i5 recognised so as to vrrite off the cost or valuatM)n of assets less thar residual values over their useful lives on the following bases.. Freehold land and buildin&% No depreciation The gain or loss arising on the disposal of an a is deremin as the difference btheen the sale proceed5 and the carrylng value of the a$5et. and is reroKnised in the ststementof financial acbvities. No depr&iation is charged on the freehold land and properbe5 because they are maintained in suth a state of repair thattheir estimated residual value is not less than their cost. Some of the endowment land and properbes a held for investment purposes. though there is no intention ever to sell them. The nts1 incorne F5 shown in investment income in the note5 to the accounts. Undei FRS102 investment property should initialty be rr{je at cost and then revalued at fair value at each reportin8 date. However, the trustees Consider that a reliable Measu of fair value is not available for any of the investment land and properties wr(hout undue cost or efforr. iknder FR5102 the invertment land and properties are therefore carried as tangible assets at cost until it is experted that tsirvalue will be reliabty measurable on an onying tSiS. 1.7 Fixed a55et intments Fixed Set investments are initially measured at transl0n pre exduding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value a retogni5ed in net incomellexpenditurel for the vear. Transaction costs are expensed as incurred. Lh)listed equity investments are initially recorded at cost, and subsequentty rneasured at fair value. If frdir value cannot be reliably measured, assets are measured at cost less imparrment. Listed irhvestments are measured * fair value with changes in fair value being recognised in income or expenditure.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 ocfoBER 2023 Accnting prficie5 Icontlnuedl 1.8 Impairment of fixed assets At each repothng end date. the chartty reviews the carrying amounts of its tangible assets to determine whether there 15 any indicatlon that tlM>se assets have Suffered an impaiment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impairynent loss lif any). 1.9 Stocks Stocks are stated at thè lower of cost and esbmated selling price less costs to ojmplete and Sell. 1.10 Cash and czsh equlvalents Cash and cash eqUalert$ include cash in hand. deposits hehj at (all th bank5. other short-term liould investmènts th original maturities of three months or less, and bank overdraft5. Bank overdrafts are shown within borrowings in current liabilities. 1.11 F•nancial in51rurnents The charity has eletted to app the pISionS of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instrurnents Issues. of FRS 102 to all of its financial instruments. Financial instruments are cOgnised in the charity'5 balance Sheet when the charrty becomes party to the contractual provisions of the instrurnent. Financial assets and liabilities are offset, with the net arnounts presented in the financial ststetnents, when there is a le8ally enforceable right to set off the recognised amounts and there is an intention to settle on 3 net basis or to realise the &sÈt and settle the liability simuttaneoU5. Bvsi¢flnon<ltrlossets Basic financial assets. which include debtors and cash and bank balances, a inriialty measured at transaction price including trdn5action costs and are subsequently carried at amortised cost usin8 the effettive interest rnethod unle55 the arrangement constitute5 a financing transaction. where the transattion is measured at rhe present value of the future reipts discountEd at a market rate of interest. Financial assets dassified as receivable within one year are not amorrised. k*tsi¢finunciallwbill Basic financial liabilities, including creditor5 and bank loans are initially recognised at transaction price unles5 the arrangement constitutes a financing tranrtion. where the debt instTument 15 measured at the present value of the future payments discounted at a market Trte of interest. Financial liabrlttie5 classified as payable within one year are not amortised. Debt instruments are subsequentycarried at amortised cosL using the effectrve interest rate method. Trade treditor5 are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilitie5 if payment is due within one year or less. If noL thev are presented as non<urrent liabilities. Trade credttor5 are recognised initially at transOn price and subsequentlv measured at amorbsed tost using the effeaive interest method. DerecognitAin olJlnantiollKYbilit5 Financial liabilsties are derecognised when the chatity's tontraLtual obligations ejpire or are discharged or cancelled. 1.12 Retirement beneffts Payments to defined contribution retirement benefr( scherne5 are charged as an e¥pense as they fall due.
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 OCTOBER 2023 Critical accounti estimates and Iwdgements In the application of the charity's accounting polKie5. the trustees are required to make judgements, estimates and a5sumptyons about the carrying amount of a55ets and liabilities that are not readily apparent from other 50urce5. The estimates and associated assumptions are based on historical experience and other factors that aTe considered to be relevant. Artual results may differ from these estimates. The estimates and undertying asSuMptn5 are revtewed on an ongoing basis. Revis(ons to accounting esdmates are recogni5ed in the period in which the estimate is revised where the revision affects only that perlod, or in the period ol the revision and future periods where the revi5i9n affKts both current and futu period IKonR from donatjws and leiatles Unrestricied funds 2023 ithre$trl¢ted funds 2022 Donations and 8ifts Grants 394 415 2.667 394 3,082 Donatlons and glfts Museum collections 394 415 394 415 Grants receivable for wye arfi¥ibes Coronavirus grant- Council Discretionary Grants 2,667 2.667 Incorne Irom chaiifable acU¥ltles UnrestrKt fvnds 2023 Unrestrkted funds 2022 Museum Museum admi55ion fees 12,741 11,497 10-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Incorne from othtrirn&inK acli¥i Unrestrirtèd Unrestrirted nds fund5 2023 201Z Shop income 1,017 Income from ]nhlents iknrestricted i$trIcted fund5 funds 2023 2022 Rentsl in(ome Income from listed investments Wayleave lrterest receNable 42.859 7,852 39.199 7.408 4.022 279 54,736 46.889 Expendlturt on ralslng fund Unrestri¢ted lthre5tr1cted funds funds 2023 2022 Tradlng costs Operating charity shops 875 542 11
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TOTHE FINANCIAL sfATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 ocfoBER 2023 ExpendItU on charitsble athvltles Lbbwary Ubrary EdKatlonal Totsl project 2023 2023 2023 2023 DSrert costs Staff costs Rates and water ght and heat Repairs and maintenance Insurance New displays and exhibit5 Payroll fee5 Broadband Marketing Museum supplies Museum management Cartrtaking and gardentn8 Project management Professional fees nk charges 14.824 203 1.930 8.170 2.472 745 14,824 209 2.206 9.624 6.444 745 276 1,167 3.972 287 92 201 735 1,609 651 651 4.650 4.650 T36 92 3.428 1,139 3.428 1,139 313 313 37.097 4,854 47.7S7 Grant fundin8 of activities Isee note91 12.767 12,767 Share of 5UPPOrt a1 8o¥emante c05ts1see io) (kniernance 5,164 5.164 42,261 4,854 12.767 65,688 Anal5 by fund Unrestricted funds 42,261 4.854 12,767 65.688 12-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Expendfture on tharitiblè adl¥it5 {Continuedl Pre¥iou5 year. m¥m Library Llbwary EducJtlonal grants Total prgjert 2022 2022 2022 2022 Dirert $ts Staff costs Rates and water 8ht and heat Repairs and maintenance Insurance New display5 and exhibitKJns yroll fees Broadband Marketin8 Mu5eurn supplie5 Museum management Care-taking and gardening pro1 managemert Professional fees Bank tharges 2L103 381 771 21.874 389 2.607 2,993 6,029 547 2.281 2.487 2.252 547 405 475 1,158 449 4.939 326 356 3.777 15 420 543 166 1,324 449 4,939 4.579 L170 4.579 l.S90 165 420 16S 37,624 5.567 5.899 49.090 Grant furbding of artsvities Isee note 91 14,(X)O 14.000 Share of support and governan costs (see note io) Governance 5,087 5,087 42.711 5,567 5.899 14,(M)O 68.177 Analys15 ty fvnd Unrestrrcted funds 42,711 5.567 5,899 14.000 68,177 Grants payable EdratIonal Educatlonal 8rants 2022 2023 Grants to individua 12.767 14,000 13-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 ocfoBER 2023 io Support costs allocated to actl¥l 2023 2022 Govemance costs 5,164 5.087 Analysed between: Museum 5.164 5.087 li Net mo¥ement In funds 2023 2022 The net rnovenent in funds is ststed after chaw"ngllcredttingl: Fees payable for the independent examination of the charity's fina131 ststements L488 1,842 12 Tn None of the trustees lor any persons connected with them) received any MuneratiOn or benefits from the charity during the year. 13 ErnO¥eS The averagè monthly numberof employees duringthe year was: 2023 Number 2012 Number Museum stsff EMplont C05ts 2023 2022 Wages and salaries Other pension costs 14.824 21.706 168 14,824 21.874 There were no efflployees whose annval remunerion more than £60,IXXI. 14-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMEKfs ICONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Other empendltwe Unrestricted Unrestrfrted fvnds funds 2023 2022 Rentsl- repairs and maintenan Rental- insurance Rental- legal fees 7,142 2.667 240 2,243 10.049 7,583 The above costs relate to the endowment land and property rental costs. 15 Gakns and1055e5 on In¥tM UnrestrKttd Unrestrlcred funds funds 2023 2022 Gains/llosse51 arising on: Revaluation of investments 12.1641 1ts,6291 16 Taxatio The charity is e¥empt from lax*ion on its attivities because all its income is applied lor charitable purpose 17 Tanglble fixed assets Freehofd latyd and bulldkngs At l November 2022 57.436 At 31 (Xtober 2023 57,436 Canying amount At 31 IMober 2023 57,436 At 31 tober 2022 57.436 15-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR EAIDED 31 OCTOBER 2023 18 Flxed a55et In¥esQments Listed In%*sthients C05t or valua At l November 2022 Valuation change5 149,790 12.1641 At 31 (ktober 2023 147,626 Carrwng amourt At 31 Cttober 2023 147.626 At 31 (ktober 2022 149.790 2023 2022 Investments at fairvalue comprise: COIF Charities Investrreni Fund M&G Charifund 38.895 108,731 39,453 110,337 147,626 149.790 The COIF Charlties Inve5trnent Fund measured at rnid market I net assetvalue and the M&G Charifund is stated at the listed value. Stock5 2023 2022 Finished goods and goods for resale L744 1,020 20 Debtor5 2023 2022 Amounts falling due withln one ar. Trade debiors Other debtors Prepayments and accrued Income 900 5.319 5,378 5.378 6,405 16-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 21 Credltm: amtyJnts frdl11 due within one year 2023 2012 Othei taxation and Social security Other creditors Accruals and deferred income 341 1221 925 16.417 10,554 18.742 11.457 22 Rttiremert benefft 5dMe$ 2023 2022 Dered contrib10 kherne5 Charge to profit or loss in respgxt of defined contributyon xhemes The charity operares a deffined (ontribution pension scheme for all qualifying empk)yee& The assets of the scheme are held Separate from those of the charity in an independently adrninistered tund. 23 Endowmerf fvnds Endowment funds Present 355ets which must be held per[nanenY by the charity. Income arising on the endowment funds can be used in accordance with the objects of the chartty arml is included as unrestrKted income. Any capital gains or losses arising on the assets form part of the fund. At l November At 31 October Z022 2023 Pernianent trtdoynents 57,436 57.436 Pre¥lous year. At l No¥ember At31 (ktober 2021 2012 Permanent endowments Museurn Cottages. Old khool House and Old School Cotta8e Srable Barn. Agricultural Land & Field Museum Building (including brary) 8.826 18.499 30.111 8.826 18,499 30,111 57.436 57.436 17-
HAWKSHEAD GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL 5fATEMENTS ICONTINUED} FOR THE YEAR ENDED 31 OCTOBER 2023 24 UnrkI£d funds The unrEstriLted funds of the charitycompfi5ethe unexpended balances of donations and gtsnts which are not subject to specific conditions by donors and grantors as to howthey may be used. These include designated funds which have been set aside out ol unrestricted funds by the tmstee5 fDr specific purposes. At l No¥ember 2022 Incom•n8 Re$Tre5G31ns and losses At 31 October 2023 General fvnds 270.271 69,379 176,6121 12.1641 260,874 Pre¥k+us year: At l No¥ernber IncomlnB 2021 re%>ur ResourcesGaln5 al105$e$ At 31 October expended 2022 General funds 299.717 62.48S 176.3021 115.6291 270.271 25 Anal)ryis of net a55ets between fuThts Endowment nd5 2023 Total funds 2023 2023 At 31 Ortoljer 2023: Tangible assets Investments Current assetsllllabilitie51 57.436 57.436 147.626 113,248 147.626 113.248 260.874 57,436 318,310 Totsl fvnds 2022 funds 2022 2022 At 31 October 1022: Tangible assets Investments Current a55etsllliabilthÈ%l 57.436 57,436 149.790 120.481 149.790 0,481 270.271 57.436 327,707 26 Related rtY trnnsartlons There were no diKJosable related party tranwtions during the year12022- none). 18-