2022-08-31-accounts - Queen Elizabeth's Grammar School Blackburn Limited

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Reference and Adminish'ative Details	Reference and Adminish'ative Details
Trustees' Report		2to 4
Statement ofTrustees'	Responsibilities
Independent Examiner's	Report
Statement ofFinancial	Activities
Balance Sheet
Notes to the Financial	Statements	9to 23

				Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative	Details
Trustccs				Mr G Turner
				Mr DA Peat
				Mr MJ Gorick
				Mr IDH Hamilton
				Mrs LCrabtree
				Mr ROmar
Principal	OBIce			Queen Elizabetlps		Grannnar		School
				West Park Road
				Blackbum
				Lancashire
				BB26DP
				The charity is	incorporated			in England	and Wales.
Company	Registration		Number	02967199
Charity Registration			Number	1041220
Independent		Examiner		Mark Bradley	BA	FCA
				Beever and Struthers
				Suite 9B
				The Beehive
				Lions Drive
				Blackburn
				BBISQS
Bankers				Lloyds TSBBank		pic
				Church Street
				Blackburn
				BB21JE
Investment		Advisors		Brewin Dolphin
				1 The Avenue
				Springfiettts Square
				Manchester
				M3 3AP
Insurance	Brokers			AJ Gagagher	Insurance		Brokers Ltd
				StGeorge's House
				Drakehouse Crescent
				Sheffield
				S207HT

					2022 2021	2020
Invesuuents					2,148,5862,316,318	1,701,499
Investment	income (including	intermt	in surplus	cash deposits)	66,918 43,445	56,761
Realised and unreal ised gain I(loss)					(212,556) 348,754	(38,433)

			Uorestricted	Restricted	Endowment	Total	Total
		Note	funds f	funds	funds	2022 f,	2021f
Income and Kndownients		from:
Donations and legacies		3	2,597			2,597	2,600
Chaiitable activities		4	199,531			199,531	538,594
Investment income		5	20,186	46,732		66,918	43,445
Total income			222,314	46,732		269,046	584,639
Kxpenditm'e ou:
Raising funds		6	(4,618)	(1,220)		(5,838)	(12,395)
Charitable activities			~(632,3			~(632,»	~(604,214
Total expenditure Gains/losses on investment assets			(636,950) ~(92,662	(1,220) ~0)	~7.8	(638,170) ~912,l56	(616,609) 4, 4
Net (expenditme)/income Transfers between funds			(507,298) ~48,579	(66,581) 8,291	(7,801) 40,288	(581,680)	316,784
Net movement in funds			(555,877)	(58,290)	32,487	(581,680)	316,784
Reconciliation offunds
Total funds brought
fotwa(d			1,833,914	987,079	133,330	2,954,323	2,637,539
Total funds ciuried	forward	19	1,278,037	928,789	165,817	2,372,643	2,954,323

		Balan	ce Sheet as at	31August 20	22
					2022	2021
				Note	f.
Fixed assets
Tangible assets				14	156,792	511,534
investruents					,14 86	2,316,319
					2,305,378	2,827,853
Current assets
Debtors				16	4,054	13,372
Cash at bank	and in hand			17	70,604	121,583
Creditors: Atuounts		falling due within	one year	18	74,658 ~7, 9	134,955 8,485
Net curn cut	assets				67,265	126,470
Net assets					2,372,643	2,954,323
Funds ofthe	charity:
Kndowmentfunds					165,817	133,330
Restricted income funds
Restricted funds				19	928,789	987,079
Uurestricted	income	funds
Unrestricted	funds				1,278,037	1,833,914
Total funds				19	2,372,643	2,954,323

3 income	fi'o	m donat	ions and legacies
				Unresh'icted
				funds	Total
				General	2022
Donations	and	legacies;
Unrestricted		donations		2,597	2,597
				2,597	2,597
				Unresudcted
				funds	Total
				General	2021
					f.
Donations	and	legacies,	'
Unrestricted		donations		2,600	2,600
				2,600	2,600

	Nursety	School
	Nursery	School
5	Investmcut income

Unrestricted
funds	Total
General	2022
199,531	199,531
Unrestricted
funds	Total
General	2021
538,594	538,594

5 Inve	stmcut income
		Unrestricted
		funds	Restricted	Total
		General	fuuds	2022
			8
Income	from listed investments	20,186	46,732	66,918
		20,186	46,73	6 978
		Unrestricted
		funds	Restricted	Total
		General	funds	2021
		f.
Income	fiom listed investments	22,141	21,304	43,445
		22,141	21,304	43,445

a) Investment	a) Investment	management	management	costs	costs	costs
								Unrestricted
								funds	Restricted	Total
								General	funds	2022
							Note	f.
Other investtuent		management			costs;
Other	portfolio	management			costs			4,618	1,220	5,838
								4,618	1,220	5,838
								Unrestricted
								funds	Restricted	Total
							Note	General	fuads	2021f
Other investment		management			costs;
Other	portfolio	managenrent			costs			5,498	6,897	12,395
								5,498	6,897	12,395
7 Expenditure		on charitable			activities
									Uurestdcted
									funds	Total
									General	funds
								Note	8
Nursery	School								195,405	195,405
Depreciation of		fixed	assets,	impairment			charge written
back									(4,253)	(4,253)
hnpairment provision			on granting			lease			358,995	358,995
Charity	support	costs							33,169	33,169
Governance costs									49,016	49,016
Total for 2022									632,332	632,332
Total for 2021									604,214	604,214
								Activity
								undertaken	Governance
								directly	costs	2021
Nursety	School							586,943	17,271	604,214

Goverusnce		cos	ts
						Unresttdcted
							funds	Total	Total
						General		2022	2021
							f	f.
Iudependent	examiner. fees
Exanunation		ofthe financial			statements		6,390	6,390	3,120
Legal fees							22,738	22,738	14,151
Other governance			costs				19,888	19,888
							49,016	49,016	17,271
9 Net Incoming/outgoing				resources
Net outgoing		resources for the year include:
								2022	2021f
Impairment Depreciation	loss of		on disposal offixed assets held for the charity's fixed assets, impaument charge mitten back				own use	358,995 ~4, 3	1,902

11 Staff costs
The aggregate	payroll costs were as follows:
			2022	2021
				f.
Staff costs dtutng		the year were:
Wages and salaries			111,558	323,104
Social security	costs		3,273	14,168
Pension costs			10,893	12,928
			125,724	350,200

the year expre	ss	ed as fiill tim	e equi	valents was as follows:
						2022		2021
						No		No
Nurseiy staff								24
Non-executive		Trustees						5
							13	29
No employee	received eiuoluments			ofmore than f60,000 during	the year.
12 fndependent		examiner's	remuneration
						2022		2021
Examination	o	fthefinancial	stateiu	ents		6,390		3,120

14 Tangible fixed assets	14 Tangible fixed assets
				Fixtures,
			Freehold Land	fittings	and
			and buildings	equipment		Total
			g	f.
Cost At I Septeiuber 2021 Disposals			10,342,930	5,378 ~75		10,348,308 ~(5,378
At 31 August 2022			10,342,930			10,342,930
Depreciation
At I September 2021			9,831,396		5,378	9,836,774
Charge for the year			1,832			1,832
Impairment charge written back			(6,085)			(6,085)
Elinunated on disposais					(5378)	(5,378)
Impairment provision	on granting	lease	358,995			358,995
At 31August 2022			10,186,138			10,186,138
Net book value
At 31August 2022			156,792			156,792
At 31 August 2021			511,534			511,534

15 Fixed asset investments
	Listed	Cash held svith
	investments	investors	Total
Cost or Valuation
At I Septetuber 2021	2,214,424	101,895	2 316319
Revaluation	(212,557)		(212,557)
Additions	74,291		74,291
Disposals		(29,467)	(29,467)
At 31 August 2022	2,076,158	72,428	2,148,586
Net book value
At 31August 2022 At 31 August 2021	2,076,158 2,214,424	72,428 2,148,586 101,89»16,»9

portfolio aud rep	resen	t 5'/0 ormore ofthe total investment	value at 31August 2021:
				'/0
COIF Accumulation		Shares	355,760	17
COIF Income Shares			246,833
M&G Charifund	Income Shares		144,212	6.71'/0
16 Debtors
Other debtom			2022 2021 f. 4,04»,372
17 Cash and cash equivalents
			2022	2021
				f.
Chbk			70,604	121,583

18 Creditors: amounts	falling du	e within one y	ear
					2022		2021
Other creditors						3	5,364
Accruals						7,390	3,121
						7,393	8,485
19 Funds
		Balance at
		I				Other	Balance at
		September	Incondng	Resources		recognised	31August
		2021	resources	expended	Transfers	gains/(losses)	2022
			f.				g
Unrestdcted funds
General
Free General Reserves		1,322,380	222,314	(282,208)	(48,579)	(92,662)	1,121,245
Designated
School Land and Buildings		511,534		(354,742			156,792
Total unrestricted funds		~1833,914	222,314	~636,950	~48,579	~92,662	1,278,037
Restricted funds
Digital Art Project		292			(292)
Junior School Hall Fund		2,362					2,362
Stained Glass Window	Fund	1,155					1,155
Singleton Travel Award Fund		(1,165)			1,165
Clare Radcliffe Accumulated
Income		4,754					4,754
Zeebrugge Fuad		837					837
Enrichment Fund		102,016					102,016
Prize and Scholatship	Fund	11E,148	6,918		7,675	(4,060)	128,681
Bowland Ttust		257			(257)
John Law Scholarship		651,940	9,837	(4,380)	—	(73,320)	584,077
Blakley Sixth Form Languages Scholarship		106,483	29,977	3,160		~34,713	104,907
Total restricted funds		987,079	46,732	~1,220	E,291	~112,093	928,789
Endowment funds
Permanent
Mrs Clara Radcliffe Trust
Fund: Capital —Permanent
Endowment Fund		1,368					1,368

		Balance at
		I					Other	Balance at
		September	Incotuing	Resources			recognised	31August
		2021	resources	expended	Transfers	gains/Bosses)		2022
		f.			f.		g
Expendable Prize and Scholatxhip	Funds	131,962			40,288		~7,801	164,449
		131,962			40,288		~7,801	164,449
Total endowment funds		133,330			40,288		~7,801	165,817
Totalfuads
		Balance						Balance
		at I					Other	at31
		Septentber	Iucondng	Resources			recognised	August
		2020	resources	expended	Transfers		gains/Bosses)	2021
				f.			g
Unrestricted funds
General
Free General Reserves		1,023,992	563,335	(607,810)	140,000		202,863	1,322,380
Desigttated School Land and Buildings		513,436		~1,902				511,534
Total unrestricted funds		1,537,428	563,335	~609,712	140,000		202,863	1~833,914
Reshicted
Digital Art Project		292						292
Junior School Hall Fund		2,362						2,362
Staiued Glass Window Fund		1,155						1,155
Singleton Travel Award Fund		(1,165)						(1,165)
Clare Radcliffe Accumulated
Income		4,754						4,754
Zeebrugge Fund		837						837
Enrichment Fund		102,016						102,016
Prize and Scholarship	Fund	78,987					39,161	118,148
Bowland Trust		257						257
John Law Scholarship		540,915	9,604	(4,812)			106,233	651,940
Blakley Sixth Foun Scholarship	Languages	236,371	11,700	~2,085	~140,000		497	106,483
Total restdcted funds		966,781	21,304	~(6,897	~(140,000		145,891	987,079
Endowment funds
Permanent
Mtx Clara Radcliffe	Trust Fund:
Capital - Permanent Fund	Eudowment	1,368						1,368

Notes	to t	he Finan	cial Stateme	nts for th	e Year Eu	ded 31A	ugust 2022
			Balance					Balance
			at I				Other	at 31
			September	Iucoming	Resources		recognised	August
			2020	resources	expended f	Transfers f	gains/IIosses)	2021
Expenduble
Prize and Scholarship		Funds	131,962					131,962
			131,962					131,962
Total endowment	funds		133,330					133,330
Total funds			2,637,539	584,639	~616,609		348,754	2,954,323
Fund Restrictions

20 Analysis of	net assets b	euveen funds
						Total funds
					Endoivmcnt	at 31
		Unrestricted	funds	Restricted	funds	August
		General	Designated	funds	Expendable	2022
Tangible fixed	assets		156,792			156,792
Fixed asset investments		1,210,506		772,263	165,817	2,148,586
Cmrent assets Ciurent liabilities		(81,868) (77383		156,526		74,658 ~7, 3
Total net assets		1,121,245	156,792	928,789	165,817	2,372,643
						Total funds
					Endoivment	at 31
		Uurestricted	funds	Restricted	funds	August
		General	Designated f	funds	Expendable	2021
Tangible fixed	assets		511,534			511,534
Fixed asset investments		1,180,778		1,002,210	133,330	2,316,318
Curreut assets Creditors over	1 year	10,086 ~(,484		124,869		134,955 ~(,484
Total net assets		1,182,380	511,534	1,127,079	133,330	2,954,323

21 Analysis ofnet funds
	At 1
	September	Financing cash	At 31August
Cash atbank and in hand Net debt	2021 121,583 121,38	flaivs ~0,979) ~0.979	2022f 70,604 70 604
	At 1
	September	Financing cash	At 31August
Cash at bank and in hand	2020 464,219	Bows ~4.63	2021f 121,583
Net debt	4 4 19	~342,6 6	121,583
22 Related party transactions
Certain Trustees of the charity, during the year, were also Trustees of the QEGS Blackbum Academy Trust. During the year thc charity made donations to QEGS Blackbmu Academy Trust amounting to f445,019(2021: f199,0002 At 31 August 2022 the charity owed f4 to QEGS Blackburn Academy Tnist (2021:f5,364 awed to
QEGS Blackbmu Academy Tiust).

23 Prior year Statement	23 Prior year Statement	ofFinancial	Activities
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	2021
		Note
Income and Endowments		from:
Donations and legacies		3	2,600			2,600
Charitable activities		4	538,594			538,594
Invesuuent income		5	22,141	21,304		43,445
Total income			563,335	21,304		584,639
Expenditure on:
Raising funds Chut table activities			(5,498) ~604, 14	(6,897)		(12,395) ~26 4.214
Total expenditure			(609,712)	(6,897)		(616,609)
Gains/losses on investment
assets			202,863	145,891		348,754
Net income Transfers between	funds		156,486 140,000	160,298 ~240,000		316,784
Net movement in funds			296,486	20,298		316,784
Reconciliation offunds
Total funds brought	forward		1,537,428	966,781	133,330	2,637,539
Total funds carried	forward	19	1,833,914	987,079	133,330	2,954,323