Charity numbor: 1094S37 BURNHAM GRAMMAR SCHOOL FUND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
BURNHAM GRAMMAR SCHOOL FUND CONTENTS Page Reloronce and administrative detally of the eharlty, Its trustees and advlsors Trust•es' report Independent examlner's report ststwnent of flnancial a¢tlviti Balan¢8 $hogt Notes to the financial statoments 7-14
BURNHAM GRAMMAR SCHOOL FUND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Trusteè$ Dr A J Gillespie Mr A Frith Dr S Foster Mr J Calhcart Mrc Burrows MrA Trehy Mr P Bainbridge Mr D Fealherslone Charity reglster•d number 1094537 Prlnclpal offlce Hogfair Lane. BLtrnham, Slough, Berkshire, SL17HB Accountants Landau Baker Limited. Mounlclrff House, 154 Brent Street, London, NW4 2DR Bankèrs Natwesl Bank Plc, Bumham Bucks Branch, 63 High Street, Bumham, Berkshire. SL17JU Page 1
BURNHAM GRAMMAR SCHOOL FUND TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The TNstees present their annual report together with the financial slalemenls of the charity for the 1 September 2020 10 31 August 2021. ObJodlv¢s and Actlvltigs . Oblectlves and Actlvltles for the Publk Benefrt In setting our objectives and planning our actiwties. we have given careful consideration lo the Chaitty Commissions, general guidanee on public benelil. b. Oblgcts The objective of tho charity is the advancement of the education of pupils at Bumham Grammar School by providing funds. Items, services and facilities that is not the obligation of any slalutory aLrthofity lo provide. In addition, the furtheranee of such other general charitable purposes as the Trustees may from time lo lime to decide, through the provision of grants. c. Alm$ of tho charity The aims of the charity are to raise funds and receive contributions in order to provide serwces and facilf(ies lo the students of Burnham Grammar School with the aim of advancement of edUtiOn. Achièvèments and perfomianc• 11 is school procedure to review the Impact of services and lacilities provKled through this fund, both financial and against the curriculum. This is minuled al meeting of the Trustees. Flnancial revlow . RESERVES POUCY 11 is the Trustees, view that r¢ is prudent to ensure that there are sufficient free reseNes to provide financial flexibility through the year. Structure. governance and management a. CONSTITUTION The Trust was consituted under a Trust Deed dated 10 July 2012. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES There should be al least four Trustees. Each Tru9tee will be appointed fof a lemi of three year¥ or a period of their office by a resolution of the Trustees. In selecting person to be appointed as Trustees, the Trustees shall take into account the benefits of appointing a pefson who is able by virtue of hi$ or her personal or professional qualfficalions lo make a contribution to the pursuf( of the objects or the management of the Charity. In 2008, the Trustees decided at their meeting. that the number of Trustees would irscrease to seven and the Page 2
BURNHAM GRAMMAR SCH¢X>L FUND TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 31 AUGUST 2021 Senior Assistant Headteacherwould be invited to fill the new position. . POLICIES ADOPTED FOR THE INDUCTION ANO TRAINING OF TRUSTEES The charity adminislr8tor infomis the Tru51ees of their responsibilrties. As Trustees aré rrUIted on the ba51$ of their po$rtion in the school, very lrttle training 1$ required. d. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Trustees shall hold at teasl two ordinary meeb.ngs in each year. Subsequent meetings shall be airanged by Trustees al their meetings or may be called al any time by the chairman OT any Trustees upon not less than len day's notice being given lo the other Trustees. Every matter shall be delerminod by a majority votes of the Trustee$ present and voting on the question. The Chaiman of the meeting shall have a casting vol8. The Trust shall keep minutes for this purpose of the proceedings al their meetings. Any bank aceounl in whh any part of the Trust is deposited shall be operated by the Trustees and sch¢)ol staff aad shall be held in the name of the charity- All cheques and ordefs for the payment of money Irom such accoLtnl shall be signed by at least TTUStses unless dèlegaled by them to other members of 8taff through an official bank mandate. Thi$ report was appioved by the Trustees, on L 6lv4 Iii and signed on their behalf by. Dr A J Gillespie Trustee Page 3
BURNHAM GIIAMMAR SCHOOL FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BURNHAM GRAMMAR SCHOOL FUND {the 'charity'} l port lo the charty Trustees on my examination ol the accounts of the charity for the year ended 31 August 2021. This report is rnade soEely lo the chartys Trustees, as a body. in accordance w((h Part 4 of the CharitlOS (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the charitvs Trustee$ those matters l am required lo slate lo them in an Independent examinerfs report and for no other purpose. To the fullest extent pefmilled by law, I do not accept or assume responsibility lo anyone other than the harily and the charity's Trustees as a body, for my work or for this report. RESPONSIBIUTIES AND BASIS OF REPORT As the Trustees of the ehartty you ale responsible for the preparalHJn of the aceounts in accordance wrth the requirements of the Charities Act 2011 (the 2011 Acl'}. I report in respect of my examination of the charity's accounts car¥ied out tsnder sedion 145 of the 2011 Act and in carrwng out my exarninalion I have foltowed all the applicable Directions given by the Charty Commission under section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn to the fact that the charsty has prepared tho accounts in accordance with Accounting and Reporting by Charrties." Statement of Recommended Practice applicable to charities preparing their accounts accordance wrth the Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Slalement of Recommended Practice Issued on 1 April 2005 which is rerred lo in the extant regulations but has been withdrawn. l understsnd that this has been done in order for the accounts to provide a true and fair view in accordance wth the Generally Accepted Accounting Practice effective for porting periods beginning on or after 1 January 2015. I have completed my examination. I can confim that no matters have come to my attention in connection with the oxaminalion giving me caLtse lo believe that in any material respect.. accounting records were not kept in respect of the charty as required by Section 130 of the 2011 Act." or the accounts do not occord with those records,. or the accounts do not comply wrth the applicable requirements concerning the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the aCCQL¢nts give a and fail 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 lo which attention should be drawn in this report in order lo enable a proper understanding of the accounls lo be reached. Si9ned.. Dated.. 0810412022 Landau Baker Ltd Chartered Accountants Mounlcliff House, 154 Brerit Street, London NW4 2DR Pa9e 4
BURNHAM GRAMMAR SCHOOL FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021 Unrostrlctèd Restrl¢ted funds funds 2021 2021 Total funds 2021 TotBI runds 2020 Note INCOME FROM: Donations and legacies Char*table activ(iies Investments 26.466 25,466 6,959 TOTAL INCOME 25,467 25,467 6.959 EXPENDITURE ON: Raising funds Charitable 8Ctivi(ie5 10.000 1,312 10.000 1.312 TOTAL EXPENDITURE 11.312 11.312 NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS 14155 14,155 14.156 14.155 5,959 5,959 RECONCILIATION OF FUNDS: Total funds brought foNard 126.013 134,454 260,467 254,508 TOTAL FUNDS CARRIED FORWARD 126.013 148,609 274,622 260,467 The notes on pages 710 14 fomi part of these financial statements. Page 5
BURNHAM GRAMMAR SCHOOL FUND BALANCE SHEET AS AT 31 AUGUST 2021 2021 2020 Note CURRENT ASSETS Debtors Cash al bank and in hand 10 2,227 259,240 276,622 276.622 261,467 CREDITORS: amounts falling due within one year 11 12,0001 (1,OOOJ NET CURRENT ASSETS 274.622 260,467 NET ASSETS 274,622 260,467 CHARITY FUNDS R&stricted funds Unr8sliicted funds 12 148,609 126,013 134,454 126,013 12 TOTAL FUNDS 274,822 260,467 The finan¢ial slaleme approved by the Trustees on oil 04.1 Z 'L and signed on their behalf, by.. Dr A J Glllgsple The notes on pages 7 10 14 form part of these financial slatemenls. Page 6
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POUCIES 1.1 Basls of preparatlon of financial statements The financial slalemonl$ have been prepared lo give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fairf v. This departure has invofved following the Chanties SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by ChaTilies.' Statement of Recommended Practice effective from 1 April 2005 which has since been wlhdrawn. The financial statements have been prepared under the historical c081 wnvenlion with items recognised 81 cost tsr transaction value unless olherwse slated in the relevant noles lo these accounts. The finaneial slalements have been prepared in accordance wrth the Ststement of Recommended Practice.. Accounting and Reporting by Charitie$ preparing their accounts in accordance wrf(h the Financk81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. Burnham Grammar School Fund conslilutes a public bgnefil enlity as defined by FRS 102. 1.2 Income All income is reGognised once the charity has entitlement to the income, it is probable that the income will bg received and the amount of income receivable can be measured reliabty. For legacies, enlrtlement is taken as the eartier of the dale on which either.. the ¢harty is are that probate has been granted, the eslale has been finalised and nol*fication has been made by the executorlsl lo the Trust that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy. in whole or in part, is only considered probable when the amount can be measurgd roliably and the charity ha5 been notified of the execulof's intention lo make a dislribulion. Where legacies have been nolrfied lo the charkty, or the chari(y is aware of the granting of probate, and the crrteria for income recognition have not been met, then the legaw is Irealed as a conlingenl asset ar disclosed if material. Page 7
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POUCIES l¢ontlnuedl 1.3 Expendlture Expendrture ig recognised once there is a bgal or constructive obligation to transfer economic benefit lo a third party, il is probable th a transfer of economic benefits will be requiTed in settlement and the amount of the obligation can be measured reliably. Expenditure is ¢lassified by activity. The costs of aach activty are made up of the total of direct costs and shafed costs, including support ¢osls involved in undertaking each activty. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one aclivTty and support costs which are not attributable lo a single activtty are apportioned bgNveen those activities on a basis consistent with the use of $01¢e$. Central 5tsff costs are allo¢aled on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs a those incurred in seeking voluntary contributions and do not include the costs of disseminating infomat¢on in support of the charitable activities. Costs of generating funds are costs incurred in attracting voluntary income. and those incLTred in trading activities that raise funds. Charitable activities and Govem8nce costs are costs ineurred on the charitys educational operations, including support costs and costs relating to the governance of the charity apportioned lo charitable activities. 1.4 Inter8st recolvable Interest on funds held on deposit is included when receivable and the amount can be measuied reliably by the charty,. this is nomially upon nolrficalion of the interest paid or payable by the Bank. 1.5 Debtors Trade and other debtor5 are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.6 Cash at Bank and It) hand Cash at bank and ifi hand includes cash and short term hwhty liquid investments wf(h a short matLtrty of three month5 or le55 from the d819 of acquisition or opening ol the deposit or similar account. 1.7 LlabllStles and provlslons Liabili(ies are recognised when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic beneff( will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount th81 the charity anlicipales rt will pay to settle the debt or Ihe amount il h8s roceived as advanced payments for the goods or services (( musl Pfovide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value ol money is material, the provision is based on the present value of those amounts, discounted 81 the pre-tax discount rale that reflects the risks specifL lo the liability. The unwinding of the discount is recognised within interest payable and similar charges. Page 8
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ACCOUNTING POLICIES lcontlnuodl 1.8 Financial instruments The charity only has financial assets and finaneial liabilities of a kind that qualfy as basic financial instruments. Basic financ¢al instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exeeplion of bank loans whh are subsequenlty measured at amortised cost using the effective interest method. 1.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in ftjrtherance of the general objectives of the charity and which have not been designated for Dlher purposes. Reslrieled funds are funds which are lo be used in accordance wiÉh 5pecFfic reslriclions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the not8$ lo the financial statements. INCOME FROM DONATIONS AND LEGACIES unrestriad Restricted funds fund$ 2021 2021 Total funds 2021 Total funds 2020 Don81ions 25A65 25.465 INCOME FROM CHARITABLE ACTIVITIES Unrestrictod Rgstrf¢tod funds funds 2021 2021 Totsl funds 2021 Total funds 2020 Fundraising project 6,959 Tot812020 6,959 6,959 INVESTMENT INCOME Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Tol81 funds 2020 Deposit account interest Page 9
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CHARITABLE ACTNITIES COSTS Total 2021 Total 2020 Direct costs Interest payable Insurance 118 194 118 194 312 312 GOVERNANCE COSTS Unrostrlctsd Restrlcted fund$ funds 2021 2021 Total funds 2021 Total fvnds 2020 Governan Auditors, remuneration 1.000 1.000 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Other costs 2021 Total 2021 Total 2020 Expendire on fundraising trading 10,IK)O 10.01)0 Costs ol ralslng funds 10,000 10.000 Activity 7 Expenditure on governance 312 1.000 312 1,000 11.312 11,312 Total 2020 NET INCOMEIIEXPENDITURE} This is slated aftei charging.. 2021 2020 Auditors, remuneration - audf( 1.000 During the year, no Trustees rec$iv¢d ar*y remuneration12020- £NILI. During the year, no Trustees received any benefits in kind12020- £NILI. During the year, no Trustees receiveLI any reimbursement of expenses {2020- £NILI. Page 10
8URNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 AUDITORS. REMUNERATION The Independent Examinerfs remuneration amounts lo an Independent Examination fee of £1,DOO12020.' £1,000). Page 11
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 10. DEBTORS 2021 2020 Prepayments and accrued income 2,227 11. CREDfTORS: Amount5 falling due within one year 2021 2020 Accruals and deferred income 2,000 12. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balanc• at Balance at 31 August 2021 September 2020 Income Expendlturg Unrestricted funds Goneral fund 126.013 126.013 Rgstrictod funds Restricted Funds- all funds 134.4S4 25,467 {11,312) 148.609 Total of fijnds 260.467 25,467 111,3121 274.622 STATEMENT OF FUNDS - PRIOR YEAR Balance al I Seplembgr 2019 Balance at 31 August 2020 Incon Expenditu General fund 126,013 126,073 Restrfcted funds Restrscled Funds - all funds 728,495 6,959 (i.(X)OJ 134,454 Total of funds 254,508 6, 959 (I,(XK)J 260,467 Page 12
8URNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 SUMMARY OF FUNDS - CURRENT YEAR Balance at Balanco at 31 August 2021 Septomber 2020 Income Expendituro General funds Reslrt¢ted funds 126.013 134.454 126,013 148,609 25.467 {11.3121 260,467 25,467 111.3121 274,622 SUMMARY OF FUNDS. PRIOR YEAR Balance at I September 2019 Balance at 31 Augusl 2020 Income Expendrture General funds Rostricted funds 126.013 128,495 126,013 134,454 6,959 (I,oco) 254,8 6,959 (1,OOOJ 260,467 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestrlcttd Rostrlcted funds nds 2021 2021 Total funds 2021 Current assets Creditors due wilhin one year 126.013 150,609 (2,000} 276.622 12,0001 126,013 148.609 274,622 Page 13
BURNHAM GRAMMAR SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2021 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS lcontinuedl ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR UnresÈriGled runds 2020 Restricted funds 2020 Tot funds 2020 Current assets Creditors due wthin one year 127,013 (i.oooJ 134,454 261,467 11,000) 126,013 134,454 260,467 1& RELATED PARTY TRANSACTIONS Burnham Grammar School, an academy, is a related patty of the Trust. DuTing the year, the Trust reimbuT5ed the academy for £Nil12019." £42,813) of expenditure incurred on 11$ behalf. Included In the creditors is £1.00012019.. £2,000) which is ¢)wing to the academy. During the year, ltte Trust received £Nil12019'.£Nill fron7 the academy for income reiVed on its behaw. Page 14