REGISTERED CHARITY NUMBER: 1040923 Report of the Trustee8 and Unaudlted Flnancl&l Stgtements for the Year Ended 31 August 2024 for Boteler Educatlonal Trust
Boteler Educational Trust Contents of the Flnanclal Statements for the Year Ended 31 August 2024 Page Report of the Trustees I to 5 Independent Eilminerls Report Statem¢Dt of FIDan¢lal A¢tlvltles B4lan¢e Sheet Notes to the Finanelal Statements 9 to 15 DetAlled Statement of FIDADcIvdl Actlvltle8 16
Boteler Educational Trust Report of the Trustees for the Year Ended 31 August 2024 The trustees present their report with the f]nancial statements of the charity for the year ended 31 August 2024. The trust¢¢s 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 l January 2019). OBJECTIVES AND A[VITIEs Objeetlves and alms Tbe objects of thc clwity arc: The provision of items, services and facilities for the Sir Tbomas Boteler Church of England High School (the School), including making payments to the governors of the School to be used by them in diScharn8 their oblAgations under the Education Acts with respect to the maintenance of the School. The promotion of the education of persons who ar¢ in need of fllW]cial assistance in the following order of priority.: (i) persons who are attending the School: and (li) persons who have at any time attended the School. If. and in so far as, the income camjot be applied in any one year towards the above-mentioned objects. it Shall be applied in thc provision of itcms, services and facilitics for any other school in the Borough of Warrington or, in otherwis¢ promoting the education, including social and physical training, of persons under the age of 25 years wbo are or who have a parent or parents residin8 in Ihe borough of Warrington and are in need of financial assistance. Within the limils prescribed by tbis scheme. the Injstees shall have full power to make rnles for Ihe award of exhibitions, bursaries or maintenance allowances or other benefiis, including rules a8 to the value and period of tenure of the awards, and thc qu411ifications and mothod of asccrtainmcnt and sclcction of pcrsons to bcncfit. Slgnlficant actlvldes The Tn¢ financially supports a number of educational projects at the School as wcll as providing grants, where appropriate, to individual pupils who require financial assistance. Publie benefit In 8¢ttin8 our objcctives and planning our activiti¢s, our trustccs have giv¢n careful considcration to thc Charity Commission's general 8uidan¢e on publi¢ benefit. GrantmaklDg The tSt will provide financial assistance to pupils, where appropriate, following an application to and approval by the board of trustees. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles Following discussion with the Headteacher, a number of projects at the school were funded during the year: Extra- cu1CUlar activitie8 in sports and the arts, Minibus costs Leasing mobile classrooms. FINANCIAL REVIEW Investment poliry and objectives The Trustees. after taking profcssional advicc. 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 £1,579,909 at the year end. Page I
Boteler Educational Thist Report of tbe Trustees for the Year Ended 31 August 2024 FINANCIAL REVIEW Reserve$ policy The charitys incorne is from investments held. As the Charity gifts its income to Sir Thomas Boteler chUb 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 Tbe Gharity is controlled by its governing docurnenL a deed of tnjst and constitutes an unincorporated charity. The charity is controlled by it8 governing document, a deed of trust and constitutes an unincorporated charity. The scheme, wbich is the governing document, combtning the Boteler Educational Trl and The Religious Instruction Fund and known as Boteler Educational Trust, was set up in 1994, being amended on 3 August 2003. There 18 al80 an Amendment concurring a resolution by the tDJstees to spend £900,000 of capital, dated l Mch 2016, and, and the fmal instalment of this grant was made in 2018, followed by a of £400,000 approved by the Charity Commission on 27 August 2019, the final instalment was paid in 202012021. Charlty constltution The constitution of the charity is the s¢herne ordered by the Charity Commission dated 1st August 2003. A brlef hlstory of the eharlty The will of Sir Thomas Boteler, Lord of tbc Manor of Warrington, made provision for the purchase of land and propety to support a free gTammar school (founded 1526) "which shall endurc 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 bul Continued to make grants to the grammar school. When the school was reorganised as a comprchensive in 1979 the funds were frozen. In 1983, the Sir Thomas Boteler High School was amalgamated with the Richard Fairclough High School to forni Victoria Park County High School, Th¢ name of the school was changed to Sir Thomas Boteler High School in 1988. After several att¢mpts, a scheme to allow th¢ trnst fiwds lo be applied for the b¢n¢fJt of the Boteler S¢hool was ated with the Charity Commission in 1994. Trnstee5 wer¢ 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 bc used solely for the benefit of the SAr Thomas Boteler Higb School. Page 2
Boteler Educational Trust Report of the Trustees for the YeAr Ended 31 August Z024 STRUCTURE, GOVERNANCE AND MANAGEMEiYr Recruitment and appointment of new trustees RecTUitnient and appointment of new trust¢¢s There should b¢ 4 nominated trustees and 3 cfropted tsustees. The nominated trustees must be appointed as follows: - 2 by Warringlon Borough Council, I by The Diocese of Chester. and I by the Diocese of Liverpool. Any appoinÉrnent must be made at a meeting held according to the ordinary practice of the appointing body. Eacb appointment must be made for: (a) 4 Years. or (b) if the appointment is being made to fill a casual vacancy, the unexpired temi of th¢ 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 arc infornied of the appointment. The pcrson appointed necd not be a m¢mb¢r of the relevant appoinlin8 body. The appointment of a co-opt¢d ffiislee must be made by the trjstccs at a special meeting called under claus¢ 17 of the Scheme. An appointment may, but need not, be made before the date on which the lenn of office of an existing co-opted trustee comes to an end, to lake effect on that date. In thesc circumstance5: (a) thc appotntmenl may not be made morc than 3 Month8 before the date on which thc cxisting co-opled trustee's terni of office is duc to cnd. and (b) any co-opted trustee wbose term of office is about to come to an end must not votc in favour of their own re-appointment. Each appointment must be for a terni of 4 years, The trustecs must give each new trustee, on their first appointment: a copy of this scheme and any amendments made to it; - a copy of the charitys latest report and ststement of accounts Indu¢tlon Y4nd tralnlng of new trusteeg New trustees undergo an induction session to brief thcm on Ihcir l¢gal obligations under charity law and the content the governing document. New tru5tecs arc also briefed on ihe committcc structurc, future plans and decision making processes, along with a review of recent financial perforn]ance of the cbarity. REFERENCE AND ADMINISTRATIVE DETAILS Reglstercd Charlty number 1040923 Principal address Sir Tbomas Botelcr CE Higb School Grammer School Road WarringLon Cheshirc WA4 IJL Page 3
Boteler Edu¢atlong1 Trust Report of the Trustees for the Year Ended 31 AuEU8t 2024 Trustees Coun¢illor P Walker Co-opted C R Penn Diocese of Chester J Taylor Chair Co-opted Mrs A Taylor Co-opted Councillor S P Wright Warrington Borough Council CounGilloT H Mundry WaIngton Borough Council Rev W Matthews Diocese of Chester Independent Examlner Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WAI IJW Sollcltors FDR Law 21 Bold Street Warrington WAI IDG Page 4
Boteler Edu¢atlonal Trust Report of the Trustees for the Year Ended 31 Augu$t 2024 REFERENCE AND ADMINISTRATIVE DETAILS Advisers Chartered Surveyors Jolliffe Daking LLP 37 Bioadway Peterborough Cambridgeshire PEI ISQ Morgan Williams 720 Mandarin Court Centre Park Warrington WAI IGG CCLA Fund Managers Lln)Ited Senator House 85 Queen Victoria Street London EC4V 4ET Bankers Lloyds Bank Horsemarket Street Warrington WAI ITP Clerk to the Trustees C Kressel Treasurer B Timmis Approved by order of the board of trusle¢s on 12 November 2024 and signed on its behalf by.. J Taylor - Trustee Page 5
IDd¢p¢ndent ExAmlner's Report to the Trustses of Boteler Educatlonal Trust Independent exthmlner's report to tbe trustees of Boteler EducotlonAI Trust I report to the charity truste¢s on my examination of the accounts of Boteler Educational Trust (the Trust) for the year end 31 August 2024. Responsibilities and bas15 of report As the charity trustees of the Trust you are responsible for the picparation of the acUllts in accordanrc with the requirements of the Charities Act 2011 ethe Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Commission under Scction 145(5)(b) of the Act. IndepeDdeDt examlner's stgtemeDt I have ¢ompleted my examination. I confinn that no material matters have come to my attention in connection with the cxamination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the TTht as required by Section 130 of th¢ Act. or the accounts do not accord with those records; or the accounts do nol comply with the applicable requirem¢nts concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the ac¢ounts 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 wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Janine Boyo Voisey & Co LLP Chartercd Accountants 8 Winmarlgigh Street Warrington Cheshire WAI IJW 12 November 2024 Page 6
Boteler Educational Trust Statement of Financial Activities for the Year Ended 31 August 2024 31.8.24 Total fund5 31.8.23 Total fimds Unr¢stri¢tcd fund Endowmenl fimd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 21 21 59 Investment income 15,707 62,664 78,371 71,588 Total 15,728 62,664 78,392 71,647 EXPENDITURE ON Raislng fullds 6,430 6,430 4,066 Cbarl¢&ble actlvltles Sir Thomas Boteler Iligh School - School PrOjtS Propety costs 40,000 1,130 40,000 1,130 38,000 I,iio Total 47,560 47,560 43,176 Net gainsl(losses) on investments 82,101 82,101 (63,119) NET fNCOMEI(EXPENDrruRE) Transfers be¢weeD fund$ (31,832) 40,000 144,765 (40,000) 112,933 (34,648) 10 N¢t movement In funds 8,168 104,765 112,933 (34,648) RECONCILIATION OF FUNDS Tolal funds brought forward {1,335) 10,913,818 10,912,483 10,947,131 TOTAL FUNDS CARRIED FORWARD 6,833 11,018,583 11,025,416 10,912,483 The notes form part of these finanGial statem¢nts Page 7
Boteler Educational Trust Balance Sheet 31 August 2024 31.8.24 Total funds 31.8.23 Total funds Unrestricted fimd Endowment fund Notes FIXED ASSETS Tangible assets Investments Inveslments Investm¢nt property 9.149,000 9,149,000 9,149,000 1,598.891 151,000 1,598,891 151.000 1.516,790 151,000 10,898,891 10,898,891 10,816,790 CURRENT ASSETS Cash at bank 9.293 119,692 128,985 98,057 CREDITORS Amounts falling due Vllthin one year (2,460) (2.460) (2,364) NET CURRENT ASSETS 6,833 119,692 126,525 95,693 TOTAL ASSETS LESS CURRENT LIABILITIES 6,833 11,018,583 11,025,416 10,912,483 ET ASSETS 6,833 11,018,583 11,025,416 10,912,483 FUNDS Unreslricled funds Endowment funds io 6,833 11,018,583 (1.335) 10,913,818 TOTAL FUNDS 11,025,416 10,912.483 The financial statements were approved by the Board of Trustees and authorised for issue on 12 November 2024 and were Signed on its behalf by.. J Taylor- Trustee The notes fomi part of these financial slaternents Page 8
Boteler Educational Trust Notes to the Financial Statements for the Year Ended 31 August 2024 ACCOUNTING POLICIES Basls of preparlng the finan¢lYdl $t2tements The financial stalements of the clwity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Clwities SORP IFRS 102) 'Ac¢ounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tbe UK and Republic of Ireland (FRS 102) (effective l January 20I9)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The fmancial statements have been prepared under the bislorical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The presentation Gurrency of these financial statements is sterling £. Monetary atnounts in these financial statements shall be rounded to the nearest £. Ineome All income is Tecogmised in the Statement of Financial Aclivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation conunitting thc clwity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the cRte80ry. Where co8t8 cannot be directly attribuled to particular headings thcy have been allocated to activilies on a basis consistent Thith thc usc of resources. Grants offered subject to conditions which have not been mcl at thc ycar cnd datc arc notcd as a commitment but not accrned as expenditure. Governance costs Governance costs in¢ludc cxtcrnal audit fees, legal and professional fees, clerk io the inlslees, fees and ¢xpcnses, and tslee$, expense8. Tanglble ftsed assets School Bulldlngs And Other Bulldlngs In Use: These are valued in accordance with the valuation Caled out by Thc Challenge Academy Trust in September 2017. Included in the valuations are provisions for th¢ cost of hire of buildings to provide temporary accommodation aftcr damagc to or dcstruction of schools. SuTplusedef1Clts arising on the revaluation ex015¢, l¢ss any1058 Qn disposals, arc shoThTr on the Statement of Financial Aclivities. Depreelation.. In accordance with tbe tem]s of tNst on which they are held, thc school buildings and other buildings have lo be maintained in good working order in perpetuity and are therefore considered to have an indefinite useful economic lifc. Investment property Investment propcrty is shown al most rcccnt valuation. Any aggregate Surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Investment propcrty valuation is bascd on income and reflects the market value of the property qubject to the tenancy agreement. Taxation The clwity is exempt from tax on its charitable activities. Page 9 continued...
Boteler Edueatlonal Trust Notes to the Flngnclgl Statements- contlnued for the Year Ended 31 AuEUSt 2024 ACCOUNTtNG POLICIES - contlnued Fund 2¢eountlng Unrestricted fLmds can be used in accordance with the cbaTitable objectives at th¢ discretion of the trustees. Restricted fimd5 can only be used for particular restricted purposes within the objects of the CIlty. Restrictions arise when specified by the donor or when fimds are raised for particular restricted putposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. INVESTMENT INCOME 31.8.24 31.8.23 Rents received Income from COIF invesln]ents Deposit account interest 15,707 56,724 5,940 12,774 56,031 2,783 78,371 71,588 RAISING FUNDS Ralslng doDatlons and legAcles 31.8.24 31.8.23 Support Costs 6,430 4,066 GRANTS PAYABLE 31.8.24 31,8.23 Sir Thomas Boteler High School - school projects 40,000 38,000 The lotal grants paid to institutions dwing th¢ year was a5 follows: 31.8.24 31.8.23 Sir Thomas Boteler Church of England High School 40,000 38.000 Page 10 continued...
Boteler Educydtlonal Trust Notes to the FIDanclal Statements - contlnued for the Year Ended 31 August 2024 TRUSTEES. RKMUNERATION AND BENEFITS There re no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the yoar ended 31 August 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. TANGIBLE FIXED ASSETS Freehold property COST At I S¢pt¢mber 2023 and 3 l August 2024 9,149,000 NET BOOK VALUE At 31 Au8USt 2024 9,149,000 At 31 Au8USt 2023 9,149,000 Included in cost or valuation of land and buildings is freehold land of £9,149,000 (2023 - £9,149,000) which is not depreciated. The valuation of the property was pcrforn)cd by Jolliffe Daking, Chartcred Surveyors, 37 Broadway, Pelerborough, PEI I SQ on 22 December 2017 on behalf ofThe Challenge Acadcmy Tt. Sir Thomas Bolcler Church of Bngland Scbool is part of that Academy Trust. The land was valued at £805,000 and the buildings al £8,495,000 including the investment property. Thts amount has been includ¢d in the 2018 accounts as a prior year adjustment as th¢ property had pr¢viously 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 lo a 10 year lease from 2 February 2017. A valuation amount of £151,000 has been transferred to investment propertics. Fair value bas been calculated using the method of Depre¢ial¢d Replacement Cost. This means that th¢ cost of constrncting the property is calculated, and deprecialcd for factors such as ag¢ and obsolescence. An addition is then made for the value of the land on which the propety AS Situated. The abovc 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. Pagell continued...
Boteler Edu¢Ydtional Trnst Notes to the Financlal Statements- continued for the Yc8r Ended 31 August 2024 FIXED ASSET IiYVESTMENTS COIF Investment fimd MARKET VALUE At I September 2023 Revaluations 1,516,790 82,101 At 31 August 2024 1,598,891 NET BOOK VALUE At 31 August 2024 1,598,891 At 31 August 2023 1,516,790 There were no investment assets outside the UK. Cost or valuation al 31 August 2024 is represent¢d by: COIF Investment fjjnd Valuation in 2023 V&luation in 2024 1,516,790 82,101 1,598,891 INVESTMENT PROPERTY FAIR VALUE At I September 2023 and 31 August 2024 151,000 NET BOOK VALUE At 31 August 2024 151,000 At 31 August 2023 151,000 The valuation of the property was perfornjed by Morgan Williams, Chartcrcd Surveyors, 720 Mandarin Court, Centre Park, WaTrington, WAI IGG on 21 st August 2019 on behalf of The Trustees of Boteler Educational Tnt. The valuation basis is income based as the property is leased to tenants, Cheshire Day Nursery, for a tem] of10 ycars from 14 February 2017, on a full repairing and insuring basis. The expected in¢ome is £12,200pa. Page 12 continu¢d..-
Boteler EdueatioDal Trust Notes to the Flnydncial Statements- continued for the Year Ended 31 August 2024 CREDITORS: AMouNfs FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Other creditor8 2,460 2,364 io. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.8.24 At 1.9.23 Unrestrfeted funds General fund (1,335) (31,832) 40,000 6,833 Endowment funds EndowrneDI Fund 10,913,818 144,765 (40,000) 11,018,583 TOTAL FUNDS 10,912,483 112,933 11,025,416 Net movcrnent in fimds, included in the abovc are as follows: Incoming resources Resources expcnded Gains and losscs Movement in ndS Unres¢rleted funds General fund 15,728 (47,560) (31,832) Endowment funds Endowment Fund 62,664 82,101 144,765 TOTAL FUNDS 78,392 (47,560) 82,101 112,933 Comparatlves for movement In funds Net movement in fjJnds Transfcrs be¢en fijnds At 31.8.23 At 1.9.22 Unrestricted funds General fund 4.008 (30.343) 25,000 (1.335) Endowment fund8 Endowment Fund 10,943,123 (4,305) (25.000) 10,913.818 TOTAL FUNDS 10.947,131 (34,fv18) 10,912,483 Page 13 continued...
Boteler EducatioDal Trust Notes to the Flnanclal Statements- contlnued for the Yur Ended 31 August 2024 io. MOVEMENT IN FUNDS - contlnued Compardtive n¢t movcrn¢nt ID fill$, included in the above are as follows.. Incoming resour¢e8 Resourccs expended Gains and 105se5 Movement in funds Unrestrlcted funds General fimd 12,833 (43,176) (30,343) EDdowment funds Endowment Fund 58,814 (63,119) (4,305) TOTAL FUNDS 71,647 (43,176) (63,119) (34,648) A current year 12 months and prior year 12 months ¢ombin¢d position is as follows.. Net movement in funds Transfcrs between nds At 31.8.24 At 1.9.22 Unrestricted funds Gcneral fund 4,008 (62,175) 65,000 6,833 Endowment funds Endowment Fund 10,943,123 140,460 (65,000) 11,018,583 TOTAL FUNDS 10,947,131 78,285 11,025,416 A eutrent year 12 months and prior year 12 months cornbined net movement in fimds, included in the above are as follow5: In¢oming resources Rcsources expended Gains and losses Movement in funds Unrestri¢¢ed lunds General fund 28,561 (90,736) (62,175) EDdowment funds Endovmient Fund 121,478 18,982 140,460 TOTAL FUNDS 150,039 (90,736) 18,982 78,285 Page 14 continued...
Botsler Edlleatlon Trust Notes to the Financial Statements- contlnued for the Year Ended 31 August 2024 ii. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Page 15
Boteler EducAtion841 Trust Detalled Statement of Financial Activities for the Year Ended 31 August 2024 31.8.24 31.8.23 INCOME AND EiYDOWMENTS DonatloDS and leg*cle5 Donations 21 59 Investment Income Rents received Income from COIF investments Deposit account interest 15,707 56,724 5,940 12,774 56,031 2,783 78,371 71,588 Total kncomlng resources 78,392 71,647 EXPENDrruRE Cbarltable a¢tlvltles Insurance Grants to institutions 1.130 40,000 I,iio 38,000 41,130 39,110 Support eosls Governanee eosti Independent examiners fee Professional fees Secretary's fees Treasurerfs fees 2,340 2,220 1,070 800 2,466 800 800 6,430 4,066 Total resources expended 47,560 43,176 Net Income before galns and losses 30,832 28,471 Reall8¢d r¢cognlsed galn5 and losses Reali8ed gains/(1058es) on red asset investments 82,101 (63,119) Net Ineomel{expenditure) 112,933 (34,648) This page does not forni part of th¢ statut(Trry finan¢ial statements Page 16