**REGISTERED CHARITY NUMBER: 1040923**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 August 2021**
## **for**
## **Boteler Educational Trust**
**Boteler Educational Trust**
**Contents of the Financial Statements for the Year Ended 31 August 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Notes to the Financial Statements**|9|to|14|
|**Detailed Statement of Financial Activities**||15||
**Boteler Educational Trust**
## **Report of the Trustees for the Year Ended 31 August 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are:
The provision of items, services and facilities for the Sir Thomas Boteler Church of England High School (the School), including making payments to the governors of the School to be used by them in discharging their obligations under the Education Acts with respect to the maintenance of the School.
The promotion of the education of persons who are in need of financial assistance in the following order of priority.: (i) persons who are attending the School: and
(ii) persons who have at any time attended the School.
If, and in so far as, the income cannot be applied in any one year towards the above-mentioned objects, it shall be applied in the provision of items, services and facilities for any other school in the Borough of Warrington or, in otherwise promoting the education, including social and physical training, of persons under the age of 25 years who are or who have a parent or parents residing in the borough of Warrington and are in need of financial assistance.
Within the limits prescribed by this scheme, the trustees shall have full power to make rules for the award of exhibitions, bursaries or maintenance allowances or other benefits, including rules as to the value and period of tenure of the awards, and the qualifications and method of ascertainment and selection of persons to benefit.
## **Significant activities**
The Trust financially supports a number of educational projects at the School as well as providing grants, where appropriate, to individual pupils who require financial assistance.
## **Public benefit**
In setting our objectives and planning our activities, our trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
## **Grantmaking**
The trust will provide financial assistance to pupils, where appropriate, following an application to and approval by the board of trustees.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Following discussion with the Headteacher, a number of projects at the school were funded during the year:
Educational visits and Rewards trips, Extra- curricular activities in sports and the arts, Emotional Wellbeing Worker's salary costs, Transition (Y6 to Y7) staffing and summer school, 'Boteler Elite' programme (able and gifted pupils) and School Council, Contribution to capital work, and Leasing mobile classrooms.
There was also a grant to the school of £200,000 which was a contribution to revenue.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The Trustees, after taking professional advice, have invested the Trust's free reserves in a mixture of unit trusts and deposit funds held with COIF Charities Investment Fund. The market value of such investments amounted to £1,613,955 at the year end.
Page 1
**Boteler Educational Trust**
## **Report of the Trustees for the Year Ended 31 August 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
The charity's income is from investments held. As the charity gifts its income to Sir Thomas Boteler Church of England High School, the charity does not hold any significant cash reserves. Any reserves held reflects the value of the investments.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The scheme, which is the governing document, combining the Boteler Educational Trust and The Religious Instruction Fund and known as Boteler Educational Trust, was set up in 1994, being amended on 3 August 2003. There is also an amendment concurring a resolution by the trustees to spend £900,000 of capital, dated 1 March 2016, and, and the final instalment of this grant was made in 2018, followed by a grant of £400,000 approved by the Charity Commission on 27 August 2019, the final instalment was paid in 2020/2021.
## **Charity constitution**
The constitution of the charity is the scheme ordered by the Charity Commission dated 1st August 2003.
## **A brief history of the charity**
The will of Sir Thomas Boteler, Lord of the Manor of Warrington, made provision for the purchase of land and property to support a free grammar school (founded 1526) "which shall endure forever".
The governors were the trustees until 1932 when the school lost its independent status and the local authority - Warrington, then Cheshire (in 1974) - acted in that capacity but continued to make grants to the grammar school.
When the school was reorganised as a comprehensive in 1979 the funds were frozen. In 1983, the Sir Thomas Boteler High School was amalgamated with the Richard Fairclough High School to form Victoria Park County High School. The name of the school was changed to Sir Thomas Boteler High School in 1988.
After several attempts, a scheme to allow the trust funds to be applied for the benefit of the Boteler School was agreed with the Charity Commission in 1994. Trustees were appointed and the funds (£1.3M) re-invested.
The school became a Voluntary Aided Church of England High School in 2002 and the 2003 scheme reflects that change. The trustees agreed to also become the trustees of the church school. The school is now part of the Challenge Academy Trust (2017) but the Trust funds continue to be used solely for the benefit of the Sir Thomas Boteler High School.
Page 2
**Boteler Educational Trust**
## **Report of the Trustees for the Year Ended 31 August 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
There should be 4 nominated trustees and 3 co-opted trustees.
The nominated trustees must be appointed as follows:
- 2 by Warrington Borough Council,
- 1 by The Diocese of Chester, and
- 1 by the Diocese of Liverpool.
Any appointment must be made at a meeting held according to the ordinary practice of the appointing body. Each appointment must be made for:
- (a) 4 Years; or
(b) if the appointment is being made to fill a casual vacancy, the unexpired term of the appointee's predecessor. The appointment will be effective from the later of:
(a) the date of the vacancy; and
(b) the date on which the trustees or their secretary or clerk are informed of the appointment.
The person appointed need not be a member of the relevant appointing body.
The appointment of a co-opted trustee must be made by the trustees at a special meeting called under clause 17 of the Scheme.
An appointment may, but need not, be made before the date on which the term of office of an existing co-opted trustee comes to an end, to take effect on that date. In these circumstances:
(a) the appointment may not be made more than 3 months before the date on which the existing co-opted trustee's term of office is due to end; and
(b) any co-opted trustee whose term of office is about to come to an end must not vote in favour of their own re-appointment.
Each appointment must be for a term of 4 years.
The trustees must give each new trustee, on their first appointment:
- a copy of this scheme and any amendments made to it;
- a copy of the charity's latest report and statement of accounts
## **Induction and training of new trustees**
New trustees undergo an induction session to brief them on their legal obligations under charity law and the content the governing document. New trustees are also briefed on the committee structure, future plans and decision making processes, along with a review of recent financial performance of the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1040923
## **Principal address**
Sir Thomas Boteler CE High School Grammer School Road Warrington Cheshire WA4 1JL
## **Trustees**
Councillor P Walker Co-opted C R Penn Diocese of Chester J Taylor Chair Mrs A Taylor Co-opted Councillor S P Wright Warrington Borough Council Councillor H Mundry Warrington Borough Council Rev W Matthews
Page 3
**Boteler Educational Trust**
## **Report of the Trustees for the Year Ended 31 August 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WA1 1JW
## **Solicitors**
FDR Law 21 Bold Street Warrington WA1 1DG
**Advisers Chartered Surveyors** Jolliffe Daking LLP 37 Broadway Peterborough Cambridgeshire PE1 1SQ
Morgan Williams 720 Mandarin Court Centre Park Warrington WA1 1GG
## **CCLA Fund Managers Limited**
Senator House 85 Queen Victoria Street London EC4V 4ET
## **Bankers**
Lloyds Bank Horsemarket Street Warrington WA1 1TP
## **Clerk to the Trustees**
C Kressel
## **Treasurer**
B Timmis
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 4
**Boteler Educational Trust**
## **Report of the Trustees for the Year Ended 31 August 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 30 March 2022 and signed on its behalf by:
J Taylor - Trustee
Page 5
## **Independent Examiner's Report to the Trustees of Boteler Educational Trust**
## **Independent examiner's report to the trustees of Boteler Educational Trust**
I report to the charity trustees on my examination of the accounts of Boteler Educational Trust (the Trust) for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
L M Warburton FCA Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WA1 1JW
30 March 2022
Page 6
## **Boteler Educational Trust**
## **Statement of Financial Activities for the Year Ended 31 August 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Sir Thomas Boteler High School - school
projects
Property costs
Sir Thomas Boteler High School - revenue
support
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
120
15,476
15,596
3,900
2,345
927
-
-
7,172
-
8,424
2,863
11,287|Endowment
fund
£
-
59,648
59,648
-
70,000
-
200,000
-
270,000
157,169
(53,183)
10,999,586
10,946,403|Year Ended
31.8.21
Total
funds
£
120
75,124
75,244
3,900
72,345
927
200,000
-
277,172
157,169
(44,759)
11,002,449
10,957,690|Period
1.4.19
to
31.8.20
Total
funds
£
550
113,644
114,194
-
80,000
983
200,000
4,070
285,053
115,727
(55,132)
11,057,581
11,002,449|
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
## **Boteler Educational Trust**
## **Balance Sheet 31 August 2021**
|Notes
**FIXED ASSETS**
Tangible assets
6
**Investments**
Investments
7
Investment property
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
fund
£
-
-
-
-
13,327
(2,040)
11,287
11,287
11,287|Endowment
fund
£
9,149,000
1,613,955
151,000
10,913,955
32,448
-
32,448
10,946,403
10,946,403|31.8.21
Total
funds
£
9,149,000
1,613,955
151,000
10,913,955
45,775
(2,040)
43,735
10,957,690
10,957,690
11,287
10,946,403
10,957,690|31.8.20
Total
funds
£
9,149,000
1,654,441
151,000
10,954,441
50,048
(2,040)
48,008
11,002,449
11,002,449
2,863
10,999,586
11,002,449|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 March 2022 and were signed on its behalf by:
J Taylor - Trustee
The notes form part of these financial statements
Page 8
**Boteler Educational Trust**
## **Notes to the Financial Statements for the Year Ended 31 August 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Governance costs**
Governance costs include external audit fees, legal and professional fees, clerk to the trustees' fees and expenses, and trustees' expenses.
## **Tangible fixed assets**
**School Buildings and Other Buildings in Use** : These are valued in accordance with the valuation carried out by The Challenge Academy Trust in September 2017. Included in the valuations are provisions for the cost of hire of buildings to provide temporary accommodation after damage to or destruction of schools. Surpluses/deficits arising on the revaluation exercise, less any loss on disposals, are shown on the Statement of Financial Activities.
**Depreciation** : In accordance with the terms of trust on which they are held, the school buildings and other buildings have to be maintained in good working order in perpetuity and are therefore considered to have an indefinite useful economic life.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Investment property valuation is based on income and reflects the market value of the property subject to the tenancy agreement.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
**Boteler Educational Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **2. INVESTMENT INCOME**
|Year Ended
31.8.21
£
Rents received
17,821
Income from CIOF investments
57,291
Deposit account interest
12
75,124
**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Year Ended
31.8.21
£
Support costs
3,900
**4.**
**GRANTS PAYABLE**
Year Ended
31.8.21
£
Sir Thomas Boteler High School - school projects
72,345
Sir Thomas Boteler High School - revenue support
200,000
272,345
The total grants paid to institutions during the year was as follows:
Year Ended
31.8.21
£
Sir Thomas Boteler Church of England High School
272,345|Period
1.4.19
to
31.8.20
£
16,677
96,593
374|
|---|---|
||113,644|
||Period
1.4.19
to
31.8.20
£
-
Period
1.4.19
to
31.8.20
£
80,000
200,000|
||280,000|
||Period
1.4.19
to
31.8.20
£
280,000|
continued...
Page 10
**Boteler Educational Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the period ended 31 August 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the period ended 31 August 2020.
## **6. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
|**COST**
At 1 September 2020 and 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|Freehold
property
£
9,149,000|
||9,149,000|
||9,149,000|
Included in cost or valuation of land and buildings is freehold land of £9,149,000 (2020 - £9,149,000) which is not depreciated.
The valuation of the property was performed by Jolliffe Daking, Chartered Surveyors, 37 Broadway, Peterborough, PE1 1SQ on 22 December 2017 on behalf of The Challenger Academy Trust. Sir Thomas Boteler Church of England School is part of that Academy Trust. The land was valued at £805,000 and the buildings at £8,495,000 including the investment property.
This amount has been included in the 2018 accounts as a prior year adjustment as the property had previously been included at £nil.
Following discussions with the Board, a separate valuation has been obtained, in August 2019, for the part of the property which is subject to a 10 year lease from 2 February 2017. A valuation amount of £151,000 has been transferred to investment properties.
Fair value has been calculated using the method of Depreciated Replacement Cost. This means that the cost of constructing the property is calculated, and depreciated for factors such as age and obsolescence. An addition is then made for the value of the land on which the property is situated.
The above land and all other land and interests in land held by the charity at 26th July 1994 where vested in the Official Custodian for Charities by a Commissioners Scheme of that date.
continued...
Page 11
**Boteler Educational Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **7. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 September 2020
Disposals
Revaluations
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020
There were no investment assets outside the UK.
Cost or valuation at 31 August 2021 is represented by:
Valuation in 0|COIF
Investment
fund
£
1,654,441
(196,969)
156,483
1,613,955
1,613,955
1,654,441
COIF
Investment
fund
£
1,613,955|
|---|---|
On 27th August 2019, the Charity Commission gave permission for the withdrawal of capital from the endowment fund by accepting the Trustees' resolution under section 282 of the Charities Act 2011. The capital has been withdrawn in two tranches, with the last tranche being £200,000 in the current year. The income is included within Net gains/(losses) on investments. The funds were donated to the Sir Thomas Boteler Church of England High School to fund a capital project.
## **8. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 September 2020
and 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020|£
151,000|
|---|---|
||151,000|
||151,000|
The valuation of the property was performed by Morgan Williams, Chartered Surveyors, 720 Mandarin Court, Centre Park, Warrington, WA1 1GG on 21st August 2019 on behalf of The Trustees of Boteler Educational Trust.
The valuation basis is income based as the property is leased to tenants, Cheshire Day Nursery, for a term of 10 years from 14 February 2017, on a full repairing and insuring basis. The expected income is £12,200pa.
continued...
Page 12
**Boteler Educational Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Endowment funds**
Endowment Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Endowment funds**
Endowment Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Endowment funds**
Endowment Fund
**TOTAL FUNDS**|follows:
Incoming
resources
£
15,596
59,648
75,244|At 1.9.20
£
2,863
10,999,586
11,002,449
Resources
expended
£
(7,172)
(270,000)
(277,172)
At 1.4.19
£
689
11,056,892
11,057,581||31.8.21
£
2,040
Net
movement
in funds
£
8,424
(53,183)
(44,759)
Gains and
losses
£
-
157,169
157,169
Net
movement
in funds
£
2,174
(57,306)
(55,132)|31.8.20
£
2,040
At
31.8.21
£
11,287
10,946,403
10,957,690
Movement
in funds
£
8,424
(53,183)
(44,759)
At
31.8.20
£
2,863
10,999,586
11,002,449|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
continued...
Page 13
**Boteler Educational Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Endowment funds**
Endowment Fund
**TOTAL FUNDS**|Incoming
resources
£
17,227
96,967
114,194|Resources
expended
£
(15,053)
(270,000)
(285,053)|Gains and
Movement
losses
in funds
£
£
-
2,174
115,727
(57,306)
115,727
(55,132)|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2021.
Page 14
## **Boteler Educational Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2021**
|||Period|
|---|---|---|
|||1.4.19|
||Year Ended|to|
||31.8.21|31.8.20|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|120|550|
|**Investment income**|||
|Rents received|17,821|16,677|
|Income from CIOF investments|57,291|96,593|
|Deposit account interest|12|374|
||75,124|113,644|
|**Total incoming resources**|75,244|114,194|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance|927|913|
|Secretary's expenses|-|70|
|Grants to institutions|272,345|280,000|
||273,272|280,983|
|**Support costs**|||
|**Governance costs**|||
|Independent examiners fee|2,040|2,040|
|Professional fees|-|930|
|Secretary's fees|1,060|550|
|Treasurer's fees|800|550|
||3,900|4,070|
|Total resources expended|277,172|285,053|
|**Net expenditure before gains and losses**|(201,928)|(170,859)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset investments|157,169|115,727|
|**Net expenditure**|(44,759)|(55,132)|
This page does not form part of the statutory financial statements
Page 15