BROIISGROI'L SCIIOOL FOlI%D.4TIO REPORT AND FINAICI.4L STATEIIE%J5 FOR THE I'EAR ENDED 31 AI'GI'ST 2•20 C hglii) Regisirdtion Nurnber: 111 $435 Compan)" RegIs￿alloti Ni umbu.. 06084879 Ha)sma¢tntyTC LLP Ch•rtercd .4¢counlanlS Regisiertd .4udirvrs LorKlon BROIISGROI'E SCHOOL FOUI%D.4TIO) REPORT A.1 D AICIAL 5fATE%IEliTS 'EAR ENDED JI AUGLIST 2•20 CONI"ENTS Page Referenc¢ 4nd admini51raiivt details Truslees. rewi Ind¢pendenl atHlitors" report Staiement of finan¢ioJ 8Ctiviti¢5 B•larKe sheet i)ks to the financial 5tst¢men 9-10 BROIISCJROI'L SC'HOOI. FOIIID.4TIO REfrERLNCE AID ADIIINISTIi4TII'L DETAIIS I'EAR EI%DFD JI AI"GLST 2020 TRLSTEES ,%IF 11 Taylor Ir Pllesi Ir P St l Bomen tr Il l Escolme Judge R J S Foster Ir I. 11 Ilorton Digb) Lord Jones of Birmin8ham Irs J IAThlge Ir S Tow¢CBE Ir Nl L￿kMan Chairnian Chairnjan of ihe SclMxII Goi'crnor5 COIIPANI. SEC RETARI" Ir Jam¢5 Sommer%ille Il'"ebsite: .bmms ADI'ISERS B*nk¢rs Llo)'ds TSB Bank PIC 112 High Sireei Bromsgroi'e Illoriestcrshire Audiiors Il•i¥mxinryTe LLP 10 (￿en Sirttt Place ix>ndon EC4R IAG B618FI Soll¢itor5 Vcale Il"asEorou¢h (kchard Cowl Orchard Lane Bristol BSI 51I'S Raihlxin¢ Brothers plc Tempic Poini l Trwnple R¢)w Birnilngham B2 SLG losurxnte BrtskeTS larsh Lid 4 illilion Road Ha}Mards Ilcaih l ¢st Su55e¥ RH16 IAH STATI'S..IP*DADIIIIIS'TR4TIO Bromsgro%"e SchLM)l Foundation i& a compth). limi*d b) 8uarnnlee. noi hai'in8 a share capitsl is goierned ￿, il5 memorandum and 8rti¢le5 of asS￿l8110￿. Compan> R¢8i4rn1ion numb¢r: kegi51ered C'haril) number: Regi5t¢r¢d oifice.. 06084879 1118435 Brom58roie S¢FMxil. ￿'0￿CeSter Road. Bromswi'e. Il'orcesiershire, B617DL BRO%ISCRON'E SCHOOL FOIINDATIO TRIISTEES, REPORT I'EAR ENDED JI ALGLST 202 The F￿j￿d01LOn'S Trus¢¢¢s pre8eN iheir rtW)rt (or ihe >'tar ended 31 Augusi 20ty undei Ik Conipanies Aci 2006 together thith ihe audiied fiThancikl stsi¢menls for ihe )eaT and ¢onfim that the fi￿nCIal $￿ements tomply ￿lIh ihc requi￿rnerbts Of the Acl. Ihe charity's governing •nd the 5￿c￿¢￿t of Recornmrnded P￿lICe. Aceouniing and Reportin8 by Ckoriiies {SORP 20151. REFERENCE AND AD.IIINISTIL4TII'E INFOIiIIATIOY Bromsgroir Scknl FouDd8tion was incorwAxted as • coMp￿Y limi1¢d b). guM8ntee (regi5t¢red tompan) ￿rnber 060848791 on 6 Febrn￿ 2(M)7. aThd as a ¢hwi¢> In81S￿rtd chgrity number I I l8435}on 20 Ilarch 2007. stRLICTURE. GO%'ERNAICE A￿D.%1.4￿.4GE%yE￿T Coi'orning Dotumtn¢ The Charity is go*"emed by Lis Ilemorandum knicles of Associa¢M)n arising fwm incorporation in 2007. Dlreetfjrs amd PrnfwioDal Adi'istrs A lisi of Trusitts and PTofr5sionol odvisers app￿5 on page l. The TrusRe5 are also ihe Directors of ihe ¢haritabl¢ company. Rryruifment *wd Trtlolng of Trnstees The Charity's Tn￿1¢¢$ are apwinied * a meeting of the BoaTd of Tru5trts. follokniThs 4 selection Pr￿esS %%hich takes into consideration eli8ibility. personal wmp¢tenct. 5pe¢ixlis1 skills and I￿al atyailability. Yew Trusiees arc inOu¢t¢d into Ihe wDrk"ings of the SCI￿1 Foundation. in¢ludinB the wvtston of key infijrmation co¥erin8 ￿licY. Scknl ethos d financiab infomiation. Rlsk rn1•nA￿me0I The FOl￿dItIon Trustees conduu annuall) i fonnal reTriew ofthe major risks to which ihe Foundaiion is exposed. Thes¢ risks are reviewed on 4 rolling basis a￿1 m•tiga1￿)ft and control w￿￿ur¢S put in pSa¢e as necessary. OBJF.CT& %'ISION. oBJEctI￿Es AYD A￿11.1T1Es Charitable ObJett$ The Charity's objects ¥ set out in the Klemorandum of AsKKialioo af¢.. to prornoie and advance any charl￿ble connected *ith BTomsgTobr Sch(M)l (-Ihe S¢hcol"l.' and to promote other edwational ¢1￿1ry Pul￿se5 Iwh¢iher or Th)1 conneckd with Bromsgrove School) for ih¢ btnefii of ihe loral commurtiry. Vision To provide a fi￿t Class educ*ion to all desm'ing pupils iii¢spective oftheir parents. abilil) to pay ftts. ObJetili"e To raise suffi¢ient fimds uliirnately ettable ihe Sch(d ￿ provide place5 to all de5eryinB pupils on a nteds Nind basis. This 15 a long, pTrssibly ¥eo' long4tm ambiiion which ivill be affcci¢d b). ini'c5tm¢nt returns and Ic¥els of e¢oJKJmic Confidence, as iiell as other f•¢iors Mhich cannoi a￿￿raitIY b¢ for¢5ten ai art). one time. Ffom lim¢ ￿ time. TN51¢¢5 a8rtt wilh the SchLX)l iol¢rirn milesione5 ￿bIrdS ihe ultimate ambiiion. BRO,%ISGROI"E SCHOOL FOLI%D.4TIO%I TRI.'STEES' RLPORT (toniinued) )-EAR ENDEDJI AI'GIST 2020 OBJEcfs. I'isioN. OBJEC711'ES AI'D ACTII'ITIES le•Ntlnue4 Aeiivitie5 To me¢1 ihe above obj¢ciii.es, il is iniended ihai ¥ptals Will be made to all ¢lx)5e iviih a conntction to Brom5grove Sch￿1 i.e. alumni. partnts and friends, Ihrou8h a fvndrnising programme consis1inK of major gifts. r¢gylar giTring and le8a¢ics. This is supp)fted b)" a pr4)gwwnrne of non-fundrais*n8 e*ents designed 10 eKourage inler¢si and inioli'emenl wilh th¢ School and to raise the pn)file of Ihe &ovndation. In No¥ember 2019. Ihe Foundaliott hDSled a special eoncert *ith Old Brom5grovian John Illsley perfoming and a Q&A di5CU55iorn led b) fellom. Old Broms8ro%ian. Nicholas Ei.ans. This allracled a sc11￿ut audi¢nce of 31)0 on knih nighis. iih Ihe income from tick¢i salc5 beTrng a￿ard¢d to Ihe Foundation. In addition to ihis. a numb¢r of 5n?all¢r frielld raising and 'thank )ou' ei'enls iber¢ held in ihe period wiw w the COI.'ID-19 kKkdown. The Foundatio￿ held ihe fir5r Speak'e￿, Lunch ￿1Th Old Bromsgrovian John Ila55e) and again all ti¢l'd sales ￿ere I￿arded *) the Foundalion. Il'e ￿"¢re noi ablc to hold Ihe annual .4ppf¢4iaiion Luich in li la> 20?0 due lo COI'ID-19 r¢swiciion5. The Foundition. *hich Partne￿ wilh th¢ SchoDI and lh¢ ijroms8roi.ian Office to host el'tnls, ha5 coniinu¢d Mith the OR d¢¢41dc reunion& and in Sepieniber 2019. the 1990-1999 ltai.ers ewcnl took place. The Foundaiion arml BrOnisgT￿,l￿￿ Office Jlso work's wilh ihE Bromsgrowe Futures dtpanmtnt lo ensure ih* Old Bromsgmltans continue ofter help a￿j support to curreni pupils. and these are rew8nised as gift5 in kind. The of fvndraisir*8 activit> in ihe )ear has been ￿%￿1￿. In the >'¢?r. No Irsacie5 Mere recei%'ed ￿tallIng El 16.208. Due io the pandemic. did rKJi ask for d¢wisii donaiions from Lpper s]￿h puenis ihis )'ear. ￿N¢￿'¢r. we did receiv¢ h4.0 un501iciied donaiiorb5 from parents FANANCIAL REI'IEII.. AND RESIILTS FOR THE I-EAR During the }'¢ar. donations and le8acies have been r¢¢¢ived of £1 83,964 12019: £71,578). In addition. there ha%'e be¢n a numbtrofaddiltonal future pkd8ts and legacies. In%¢stmeM incom¢ of £33.8•612019.. £33.2371 aly) earned. The Foundation 7'rn51¢¢5 lTa￿Sf¢rr¢d £46,935 to ihe se1￿1 in ihe )ear lo assisi in ihe ￿￿rfing of burwies. The de¥ision on the amounl lo be tyansferrtd io the Schwl for use in buvsaries and scknlarships remains at ihe sole di5cTelion of the Foundaiion Trustees. "Ihe School. how¢%¢r. relain5 Ihe exclu5ib'e righ¢ 10 aprAirtion Ihe nionej io an) but5aw)' or 5ckolarship it so Chi￿se$ unless the original dor￿N)n had specific terms allachcd io it. or Ihe Foundaiion TNsiees dirtct Ihe rnone} 10 indi%idual Kholarships. Ini'estmeni P•ll¢)' and P¢rform4nct During the retM)ning )ear io I I Augu￿ rn?O. ii"e hai¢ e.xpericrtced 5igniflLanl ccommic. p)litical and Soiial uphcai"ol. iosi of ￿hiCh has been dri%¢n bj the ouibreak of lh¢ COI'ID-19 %irus. Because of ihe supp)n pro¥'idcd and I0￿"er inierest rai¢ ¢xpc mark.ets narn)M the di5couni ih¢}' rurrenTl> siand on in compari50n to oiher dt%efro￿d iiorld rnark.e￿. Ini"esimenl mark.ets oier ihe %ear ahead ￿0￿Id benefil froni a srniw)th US eleciion r¢5uli artd an cnd 10 the COI.'ID.19 pand¢mi¢. all of *hi¢h lie will be n￿nI￿)rIng closely. The Foundoti(Trn ¢Oniinucs to urgei a minimum irthm¢ >i¢ld of 3fN**7 from ihe inl'esmieni w)rtfolio. In Ihe )ear. a ) ield of 3.5•JO ￿a5 a£hi¢icd. BROIISGROI'F. SCHOOL FOUND,ITIO TRiISTEES' REPORT (tOD¢inued) 'EAR ENDED JI ALGLST 1021 PublEc BeDefit The Tru51ee5 ¢onfirni ihat they Im'e complied with the dyry in srtiion 17 of th¢ ChaT•ties 2011 ￿ hale due regard to Ihe public bertefii guidance published by ihe Ch¥ity commiss￿ its de*rnining the ￿•*111¢5 ￿ndert&k'¢rt by the Chttri￿. R¢sern"es P•Nc)' At JI Au8usI 2020. Ihe total urffj¢strTcied fiumls of Founthiion aTh)unted 10 £1.179.651. The Trustees are saiisfied th the% reserve5 aTe suffEcieTrl to mttl the Foundalion's ¢urreTht commitment to th¢ Scjwl ITr aiiardin8 funds for bursaries. Th¢ Trus1¢￿ have a mcdtum ierm targei of Tri5ing urwesiriaed funds to 8round £3m in order ihai future a￿ardS for life chan8ing bursarits Can b¢ made. AI 31 Augu￿ 2020. the ￿lTi£led funds of the Foundaiiom anK￿TriCd io £10.251. N4ote5 6 8]wJ 7 of the fin￿la1 slatemenis selsolrt an anily515 ofthe aunl)￿lIbk to these futhls a￿1 the purp)se of the funds. STATEIIFliT OF TRI,'STEES' RESPOSSIBILITIES The trusiees (who ar¢ a150 directs￿ of BToms8TQbE Sch(*A FoUNj￿￿On for the kwx>ses of company la￿) aF¢ responsible for preparing ihe I'Nsie¢5' RcFQrt and ihe fivaKi815tstcm¢nts in accordarKe wilh appllcabk law and Unikd Kingdom A¢couThlin8 Siandards (Lniied Kin8dom G¢D¢rdll) A¢¢tpled Acco￿￿11￿8 Pra¢ii¢e). CompAny18w requirts ih¢ tru51ees to prepare financial sia¢¢ments fof exh finaD¢i•l >'¢ar whi¢h gil'e 8 tThe and fair yiew of ihe Stale of affair5 of the clwiiable ccAnpany and of the incomin8 rcstyJT¢¢S and applitalion of r¢sourtt% includin8 Ihe income and ¢xp¢ndiiure. of the ch¥iiabl¢ comp2ny ffi)r Peri￿5. lth weparin8 these fllLaAciol sut¢fflenlS. Ihe trystecs Seleci suiiable ¥c￿jnI1Thg policies and then apply ihem consistendy- I￿Se￿.¢ ihe Mciknds and PTincipl¢s in (ht Chariiits SORP.. Nlake judg¢ments and esiimaies ihai ¥re reasonable and prude•i' stste *heih¢r applic•ble UK ArcounTiTrg stsI￿ardS hait been follo￿¢& subjeci to any malerial depart￿[¢5 disc105ed and explained in the fJnarKial yalemertls; Prepare ihc financial Sthicments on the going LI￿reM b&sis unless li is inappropriaie ￿ presume thai ¢he charit•ble c(Hwpany will wntinue in Imtsirtess The Irustees are fesponsible kttpiT¥ pmp¢r *tOU*iing rttords ihat disclose wilh ￿*S0n￿ble accurn¢y ai any time the rinaneial ￿1110￿ of ihe ¢haTitsbl¢ ¢ompaThy •nd enable ¢hem ￿ ensure that ihe finarKial stai¢meMts comply with ih¢ Companies Ad 2006. Th¢> are also restK)Thsible for 5afe8wdins the as%ts of ihe ch8r1￿ble ¢ompany and hence for lak.ing r¢&50nable steps Sjr the pr¢%elliion a￿4 deiedion of fraud and ¢y￿r iTrtgul8riii¢ So for ts ea¢hof the DiJMees 15 I￿*1¢ at the lime the rewrt 15 apwi%vJ: ther¢ 15 ￿ relevant audit inf0mal￿Tr ofmhich iht d1w1￿ble cow>"'s 4￿J7101$ are unaiiarr. the trustees hale tsken all steps ih¥ ihej. tyjghi to h&tre to moke lhemsel¥￿ of an> rtlew•nt a￿11 infornuiion aThd &7 estsblish ihat ihc iudikys a￿11¢ of th* inforntht¥Jn. AIIDITOILS Hayyna¢inl>T¢ LLP ￿711 bt Pro￿ for re-4wiNmert as audiior5 in rK¢ord8Ke Stciion 485 ofthe Conipanies Aci 21J06. In prtparing ihis rerA)rt the TnIs￿5 habe tsken of the small wmtAThes exernpiions ptoi'idcd b) seciion 415A of the Companies Aci 2006. This ret B5 appro%￿ by the TNsle¢50n 10 tkctmber 20*0 and si8￿d w iisbehalf by= Ir 11 T&)"lor Chaimian IYDEPE%DEI%T AI'.DITOR'S REPORT TO THE %IEItBERS OF BRO.IISGROI'£ SCIIOOL frOIINDATIO. Opinion I'e ha%,¢ audited ihe fit)ancial statemellis of Broms8ro%e Sch￿] FoundaiM)n for the }eor ¢nd¢d 31 August 20?0 ￿h1¢h ¢ompris¢ ihe Stsiemeni of Fifiancial Athi%ilie& ihe BalarKe Sheei and noies ts) ihe fir￿￿¢111 siatements. in¢ludrng a summary of signifiiani 8c¢oufilins policies. Thc flnancial re[K￿lTh8 framem.ork ihat has bttn applied in iheir prtparaiion 15 applicablc la￿ and Llnitcd Kingdom Accouniin8 Standards. including F inancial Reponing Siamdard 10! Ilkv } jfvwiR'j b¢ ekpe¢led io influ¢nc¢ ih¢ ¢¢onomi decision5 of users iakefi on the basis of ihesc f￿at￿l81 siaiements. A further de5criwion ofour re¥KJnsibiliiies for ¢he audii of ihe firwicial siaiemenis is I￿ated on ihe Finfineial Rcportin8 CourKil's ￿ebSiTe al-. 14I%*.Ir¥.or .Iik audiiotsr¢s nsibilili¢s. This dtscriplion forms part of our •udilor's ieporl. Ctsnclu51ons r¢l*ting to golng r•nc¢rn e ha%"e [￿thIn$ 10 rerK)rt in res￿1 of the follo￿1￿8 matters in relation io *hi¢h the ISAS ILTkl r¢quir¢ ￿ to rewrt to >ou wherc.. Ihe Iwslees. use of ihe going concern besis of IA ihe pr¢paraiÉoth of the finan¢ial siatements Is nol approprillie: or the Iru51ees ha%e not di￿105¢￿ in ihe finarKial stsiemeNs an). idenitfied mmerial uncertainiies Ihai ma> ca51 signifirdni doubi Ihe ch¥iiable ¢ompan)' s abilil). lo ronlinuc to adopt ihe going roncern b3515 of a¢¢ouniing for a petM)d of at leasl ¢1%cl4e rnonihs from the dale ￿heTr the financial St￿£￿¢1)ts are auikvi5¢d for issue. Ii%DEPEliDENT AI:DITOR'S REPORTTO THE IIEIIBERSOF 8RO%ISGROI'E SCHOOL FOLINI D..ITIONL (tonllnutd) Oth¢r inform•tioii The tn15tees ore resp￿i￿¢ for the othtt Inforni￿1On. The (rfher Infonn￿lOfi comprises hnfornalion included in ihe Trugiees. Report. Our opinion on the financial slalemenls does w%¢r ihe oiher infornialion and. except to the extent oiherwise expliciily siaT¢d in ow r¢w)n. M¢ n(A expre55 an) fonn of assunnce Co￿1￿510￿ Ih¢f¢on. In connection with our iudil of the financial stai¢m¢nls ovr ￿5￿nSIbIlity is to read ¢he ￿h¢f infornMiion and. in doing sq ¢oDsider Whether ihe oihtr informaiion is mattria]l> inconsistent i%iih the finaniial siaiemertis or our Kno￿ledge obtained ID the audii or oihtrnise appears to be maierially missthied. If *'e identify such material inconsisicn¢Tres or apparefti mai¢rial n1isyatemen￿ are ￿qUIred ￿ dctemine ￿h¢¥her ihere is a maierial mis51alemenl in ihc fin&ncial stalcmenis Of a mai¢riAI missiai¢m¢Thi of th¢ other infonnalK)ffl. If. based on ihe iiork Me babe p¢rfornied. we conclude Ihat there is th malcrial missthiemem of Ihis oiher onf¢)rmaiiQ￿ w¢ are reqUI￿d to t¢wrt fa¢1. Il'¢ hai"¢ noihing repon in ihis resard. OplnloAs •n other m*tters preseribed b) Ihe C•mp•Ale5 Art 2￿6 In ouropinion. based on the Mr*￿. undenak'en in the course of Ihe audil= th¢ inf0m￿li0n 8l%tn in the Trus1ttS' Rew>n (which in¢orporales the dirtttors. r£ix￿) for the fift￿￿107 year for hich the financial statements are P￿par¢d 15 consisteni wilh the financial M*emenis: and the dirtctors. retrf)rt *fji¢h is irKI￿led in the TThst¢¢s' Rep(rt h35 been Frtpared in Accordanc¢ ￿1th applicable le8BI requiremtnts. latters on which w'e Ire required to report b) tx¢epllo In ih¢ light of the k"rM)wledgc and uNdc￿la￿di￿g of Ihe Chari￿bIe wmpany and t15 en*iTOrtment obthined in ik ¢our5¢ 01 the audii, w.e have Nyt idenlified rnaler?al misslattmtm$ io the Tntstees. Report {whi¢lh incowp)rdies the dire¢lors' report). Ive hawe nothin8 to rtrA)ri in respe¢1 of the folks￿7￿@ mth¢rs in rtkntion to Mthi¢h the Comp8rtie5 Aci 2006 requir¢s u5 to report ￿ )'ou if. tn our opinion.. Adequoie ac¢ouniin8 rthxTrrd5 hab'e nor been kept b) thc rI￿liable compAn)"- or Ihe charitable company financial S￿leMen¢$ are in 8gr¢¢ment with Ihe accounting rrcords and retums- or ¢erfain di5¢1osuT¢$ of iN51¢¢s' r¢mun¢ration specified by law or e ha*¢ not received all ihc inforjnjtion •rtd ¢KplanaiioAS *e require for our audil: or the I¥LJsl¢e$ Meie N)1 eThtiil¢d tl) Pfepare ihe financial slalemcnts in 8¢¢onlan¢¢ Miih ih¢ small ¢ompAnies' reKime and take udvantage of th¢ small companiu. exemptions in preparing ihe tntyt¢es' report and from the r¢quiremcnt lo prtpare a straiegi¢ ie [Ise of our report This ieport is made solely w ihe charl￿ble cOrnpan￿5 rntmbers as a t￿y. in KcordaKe M'iih Ch4pt¢r 3 of P¥rt 16 of the Companies Ad 2006. Our audit has been und¢naken 50 ihai i%e msghi slate to the charitsble compan)'s m¢mb¢rs those mailers we aT¢ r¢qUi￿d ￿ State to them in an A￿1110¢$ rtp)rt and for no other pul￿5¢. To ihe fvlle51 e%itni pe¥mi¢¢ed by law, M¢ do acctpt or re5N)nsibility to Bn)"on¢ other than ihe charitable ¢ompanJ and ihe chariiable "'s members Os a P￿>.. for our audit work. for this re￿r[ or S)r the opinions ha%e fonntd. Tra¢¢). I'oung (Stnior Si#tutori .4uditor) for OD behaifof H#j5mi¢lnl)'r¢ LLP. &*lMlory Audilor 10 Queen Sireet PIA¢e London EC4R IAG 02 F8brLJary 2021 BROIISGROI'E SCHOOL FOIINDATIO. srATEIIEi%'foF FIN.4NCI..IL ACTII'ITIES FOR THE I-EAR ENDED31 AI.'GiIST 21120 INCOIIF. A￿D E.IPE%I DITI',RE I'Trre5trirt Fund Restrict¢d Funds 202• Toi41 2019 Toial IDcome from: 'olunl4ry inc(¥nt.' Ixinaiions and l¢gacies Inie51mcnts 113.964 33.8?6 183.964 33.8?0 71.578 -13.237 Toial Intome 217.P)o 217.790 104.815 Eiptndiiure Cosi of raising fvnd5: In%¢slmcDt rnanager's fces 6.122 6.122 4.38 I Chariiable acii%ities'. A￿ardS 46.93$ 46.935 Total ExpEnditu 53.057 53.057 61.148 ei lrtcome I￿.733 164.733 43.667 Giins on In%'tStfflenis: Realised L.'nreali5ed 111.8$91 171.6121 111.8591 171.6121 9.1941 25.294 Xl.261 81.262 59.767 Total funds broughf fo￿ard 1.1)98.389 10.!5 1 .108.640 1.048.873 Total fund5 carried fornatd 1.179.651 EIO,!jl £1.189.W) £1.108.640 The ¢haritable compan> had no rttognised gains or1055es oiher ihan ￿se included in ihe abo￿¢ Staicmetti of Financial A¢iivitie5. All of th¢ ¢harilabl¢ compan)" S a¢li¥'ilie5 durin8 Ihe aboi'¢ finhKial }'ears d¢rii¢d from conliniiins acti%'iiies. All of Ihe charitable 'ear relaled lo unr¢siTiCt¢d The accompanyin8 noies form part of ￿ finan¢ial BROIISGROI'E SCHOOL FOI:ND.4TIO BAI.ANCE SHEET AT31 A(G￿ST 1020 202• 2119 ot FIXED ASSETS Inv¢simen15 994,458 1.1184.051 CURRENT.4SSETS Deb￿r$ C&5h at bank 107.948 116.71)0 1.011 56,770 224.618 57.781 CREDITORS: •mounts f*lliog dut *iihin one )'e*r 129.2041 (33.1921 NET CIRRENT ASSFTSI{LIABILITIF.SI 195.444 24,519 TOTAL ASSETS LESSCLIRRENT LIABlI.I'fiFS £1.189.IXI? £1.108,640 FUIL DS Unrestricted fund 1,179.651 10.251 1.098,J89 10.251 Restricied fibnds £l.l89.W! £1,108.640 T*t finan¢ial Sta￿ments wefe appro%ed *)d auth0ri5ed fi)r i5gJe by the Board of Tntsttts on 10 December 2020 and ¢re signed belo*. on lis behalf by.. Ir Il Th>k)r Chainnan The accompan)ing noies form of ih¢5e financial ￿ateMen BRO.IISGROI"E SC"IIOOI. FOI";NDATIO.% ,NOTES TOTHE FIIANCIALSTATEIIENI TS FOR THE )'EAR F.%DEDJI AL"GLIST 202• ACCOIII4TlI%CJ POLICIES The fi￿￿Cial staierrtnts h•'t IK¢n pf¢partd under ¢hr hi5K)rKal co4 c4Jn¥ffiti￿Tr. w wmdified b>, the re%a]uaiÈon of inTr"estmenls. Ihe rtnarKial Sth*menls haie been prepa￿d in ac¥Y)rd￿¢ wtth thc Stsiement of Rtcojnrnendtd Praai¢¢ ISORP 20151 ISeth7ThJ ediiion. effeili%"e l Janw. 20191. Scction IA oc FRSIO? Tlw liwiwial KeportixA 3-Iiinknd cwpli¢-ahle in ilkT I A cin(l R¢wiblic rflayland and ihe Companies Aci ?006. The PTincipal a¢couiiiin8 Fx)liti¢s adopted in the preparniion ofihe fiwKial Stsiements ¥e set ow beloi%-. Inwme Ini¢siJnerf irKome is accounied for on a ret¢iwab]e basis. tknnaiions and legxies are in¢luded on rec¢ipi or being noiified of a d1strib￿1On if earlier. Expeldliure Eip¢Ddilur¢ is all￿al¢d io the particyl* ￿)Vity where the relates di[￿lY ￿ ihal ac11￿lty. Grnnts payable are ¢har8¢d in the )ear when the offer is wn¥e)cd to Ihe recFpient except rn Ihosc cws ￿here the offer is condiiional. Such grants rttognised as expenditure the condiiK)n5 *￿"hIng ar¢ fulfillcd. Granis offered subj¢rt lo ¢oNJitions ￿hICh ha¥e w been md }¢ar*nd are ￿￿ed as a commilin¢411. but ￿1 accru¢d &% expenditure. GO￿¢MAnCe (o$is comprise direct co￿$ fLY the go%"ernance eX￿ndit￿re of iht chaxity ￿￿ether Miih an Alk)calion of suppon Cosb. Inies(ments Lisi¢d Inle￿mentS Jre tralued at bid.pice ￿ the balknce sheet da*. Realised UllTeali5ed 8ainsilo¥ses on in%.¢￿￿en1$ inclwjed in ihe St￿¢ment ofFinancial Acti%'iiies. FU￿d5 Unrc5trt¢*d funds comprise a¢cumulat¢d surpluse5 Ind deficits oft general fiuth. The>. are a%'ail8ble for use ai ihe diKretion of Ihe TN5rees in furtheranceof the gencrdl charithble obieds. Rtstri¢ied futyjs ￿ fill￿5 which are ￿ bt used in wilh 5p¢cific rtslriciions irn￿ b). the thmor. FIXED ASSE'f i.Ni'EsfiiENTS Listed in%e$lmeMI$ C*sh Tolal Balonce at I September 2019 I.IYJI.205 82.846 1.084.051 A4Jdilions Di5posa15 at openin8 mark'ei %alue lanag¢menl f¢e5 paid LnTe81ised 8ains 38.985 16.1 !21 111,859) 16,12• {71.61? (71.6121 Balance ai I l A￿8￿￿ 2020 £941.74? £S?716 £994.458 BROIISGROI'E SCIIOOL FOII%D.4TIOY I%OTES TO THE Fl*1 A%CIAL STATEIIEI%TS {efjfftt￿Ued) FOR TIIE I-EAR ENDED31 ALIGL'.ST 2•20 TRI"STEES' RE.IILNERATIOY No Irustee rtteived any ttrnuneraiioD or ffimburs¢mtmi oCexw)sek DEBTORS loi• 1019 her d¢FrtOTS £107,948 £i.011 CREDITORS: Amoun¢$ f811iog dut one )t*r 2020 2019 Amounts payoble to Bn)msgro%* School £29.204 £33,192 31 A¥g¥st 2019 31 Avgus¢ 2020 ExpEnd•furt I￿sSI$ General fwnd 1.098.389 217.790 {53.057) (83,4711 1.179,651 Resiricled funds: John Ni¢h)Ils Fund Ro8er Brazier Fund 5.251 5.251 EI,108.640 £217.? £153.057) £183.471) £I.189.IA12 The John Ni¢ho115 Fund r¢pTtsenls a do￿l0ft *hich is io be used for the Bromsgrole Schojl Lxped ilion Club or if this is rKTrt possible th¢ inltresi sknuld be used ￿ fund 8n annwl io a d¢5eThing S?￿h lo ottend a qualifying WUF5e 8t one of Ihe Great Olrtdow Pursuit CeRtI¢5. The Roger Bwktr Fund ttpr¢sents don￿10￿*10 be used to Supp￿ the leJrn•ngof pupils wilh Dyslexi& Resirleieo Fund5 ANALI'SIS OF FIIIDS I'.Trre5trlded Fuwl Tot#1 2120 994,451 195,444 In￿.¢51￿C￿¢S ei current Assets 994.458 185.193 10.251 £1,179.651 £10.251 £1.189.9)2 2019 Inh'estmenls et cuffert Assds 1.084.051 14.338 1,084.051 10.?51 1.098.389 £10.?51 £1.101,640 IILTIIIATE PARE1￿ I"%DERTAIKING Bromsgro%'e Sch(K)I l.irnited 15 the sole member of BnxTrigfoie Fo￿nd#¢I0￿ and is ihe u111m￿¢ parcnt Lwnipany. The Found81￿￿ made I￿31dS of £46.935 12019.. £56.7671 to Bromsgr()%¢ kh￿1 l.imitcd ioi%ards Ihe funding of I￿￿rieS. Th¢re *ere no oiher related part)" Iian5actions. 10