New Barnet Parochial Schools Trust Year Ended 31 December 2024 Trustees, Annual Report and Review of Financial Activities Background Orlglnal Deed of Trust 1869 The Trust was initially established in 1869 through the provision of land "for a school for the education of children and adults or children only of the labouring manufacturing and other poorer classes in the district aforesaid and for no other purpose" to be held on trust by the vicar and chapelwardens of Holy Trinity Lyonsdown for ever hereafter. The New Barnet Parochial Schools originally consisted of infant and Junior {mixed} departments, although the Infants and girls schools moved to new premises in 1900, leaving the boys at Margaret Road. The schools were administered by the East Barnet Schools Board from 1894 until it was abolished by the Education Act 1902. In 1905 the vicar and chapelwardens leased the newly constituted Margaret Road Council School to the Local Education Authority for 81 years at a peppercorn rent. The vlcar, who had prevlously chalred the managers and the Schools Board, contlnued as chairman of the board of governors. Provislon was made In the 1905 lease for the church Sunday School to contlnue to meet on the school premises, which it did until the church hall was built in 1921. The vScar and churchwardens (successors to the original vicar and chapelwardensl redlscovered their responslbillties as Trustees only in 2006 when the Councll sought an extenslon to the 1905 lease. Havlng agreed that a reverter had not occurred under the 1841 Act, slnce the premlses had remained a school, the Trustees revlewed the provisions of the 1869 Deed. They consldered that not all of the provlslons of the 1869 scheme were then fulfllled, so the purposes of the trust would have to be fulfilled by charging the Councll a market rent whlch could In turn be applled to charitable purposes. The original objects were varied by a Charity Commission Scheme of 2008 to provide for income from the new lease which was completed in 2010 and arrears of rent (from November 2007) were received on 9th Aprll 2010. Alms and Purposes Charlty Commlsslon Scheme 2008 The object of the New Barnet Parochlal Schools Trust (referred to as.the Trust" In thls report) Is, for the publlc beneflt, to advance the educatlon of chlldren and adults resldent In the parlshes of New Barnet, East Barnet or Lyonsdown, who are in need of financlal asslstance ("beneficlarles"I through: {11 the provision of a site for a School In accordance with the exlsting trusts; and (2) the provision of items, services and facilitles for the Nursery School; (3) making grants or loans to beneficiarles for any or all of the following purposes: lal to assist them to pursue a course of study at any school, university, college of educatlon, or other institution of further education approved for the purpose by the trustees,, {b) to enable them to participate in extra-curricular activlties, educational trips or travel abroad to pursue their educatlon; (cl to assist their entry into a profession, trade or calling; (dl assisting in the provision of a Sunday School. The Trustees have had regard to the Charity Commission guidance on public benefit. Objectlves and Activitles The Trust's role is to manage the rental Income from the Councll and apply it for charitable purposes In accordance with the 2(hJ8 Scheme.
Achlevements and Performance Rental income of £63,500 was received during 2024 and 7 grants were awarded, totalling £53,459, These grants assist in educational purposes in many ways such as funding a church youth worker, funding English classes for adults and assisting with educational costs such as school uniform and adult education support for those in hardship. 2 of the grants shown in 2024 figures were in the 2. year of a 3 year grant cycle• previously approved In 2023. Flnanclal Revlew and Flnanclal Pollcles Over the year there wa5 a net operating surplus of £9,021 before unrealised losses of £5,232. Therefore, total reserves increased by £3,789. Reserves Pollcy "Reseprfes" describe that part of the funds that is freely available for general purposes at the discretion of the Trustees, but whlch Is not yet spent, commltted or designated, i.e. surplus liquid assets excludin8 endowments, restricted funds, designated funds and fixed assets held for the purposes of the Trust. The Reserves Policy sets the level of financlal resen4es, In Ilne with the guldance issued by the Charity Commission, in order to maxlmlse the resources avallable for the work of the Trust. The level at whlch these reserves is set should be adequate to cover the following elements: • normal worklng capital1£2,000); slx months, operating expenses of the Trust (£30,000), or flve years, overheads of managlng the school (£300,000) should the Council withdraw, whichever is the larger; any other contingencles or rlsks, assessed on the best evidence reasonably avallable, the Ilkellhood of each of those needs arlsSng, the posslblllty of support from elsewhere, and the potentlal consequences of the Trust not being able to meet those needs. The target reserves flgure for 2024, calculated on the basls of the above pollcy, 15 £302,000. There was £368,829 held in reserve on 31st December 2024, being the general funds of the Trust1£365,040 on 31st December 20231.
Goln8 concern As the trust has significant reserves, the rental income is reasonably steady and any dips in income can be dealt with by reducing the grants given that year the trustees believe the trust is a going concern. Therefore there are no material uncertainties about the charity's ability to continue. Grant-Makln8 Pollcy The Trustees make grants from time to time as permitted in the 2008 Scheme, The beneficiaries are determined at the discretion of the Trustees and are periodically reviewed to ensure funds were used appropriately. Investment Pollcy and Performance It is the responsibility of the Trustees to review the performance of all Investments from tlme to tlme, No funds were added to or removed from the Ruffer LLP investment portfolio in 2023 or 2024. The portfolio unfortunately lost £5,232 during 2024 {loss of £19,656 was reported in 20231. Fund-Ralsln8 Fund-raislng Is not seen as necessary at present, as the requlred resources are provided by rental Income. Rlsk Assessment It Is the responsibility of the Trustees to identify, assess and mitigate any major risks to which It is exposed. Such rlsks include: The Councll withdrawln8 from the school lease at one of the two-yearly break polnts, havlng glven 6 months, notice. The Trust being associated wlth any inappropriate teaching, abuse or other unsatisfactory behaviours within actlvltles funded through grants. Investment portfolio continuing to lose value due to global economic changes, Plans for the Future The Trustees plan to contlnue maklng grants In accordance wlth the 2008 Scheme as and when funds allow, and subject to the new policies referred to, in order to ensure the support of Christian or secular education within the 3 parlshes. Structure. Governance and Management Governln8 Documents The Trust was formed by Deeds of Conveyance executed on 3rd July 1869 (described above) and 5th November 1891 (endowing an additlonal piece of land for use as a playground) and varied by Schemes sealed on 16th February 1905 {allowin8 the premises to be leased to the Council at a peppercorn) and Ilth November 2008 (see above). It was registered by the Charity Commission as Charity Number 1135862 on 10th May 2010. Board of Trustees The Trustees at the start of the year were the Revd Canon Laura Hewitt Ichairmanl, Robert Bayman and Stephen Craggs, being the Priest-in-charge and churchwardens of Holy Trinity Church, Lyonsdown and appointed as ex-officio trustees. Archdeacon Janet Mackenzie became a trustee on 1810112024 due to her position as Archdeacon of Hertford. On 09/0712024 Robert Baymen & Stephen Craggs ceased to be churchwardens of Holly Trinlty Church and therefore automatically ceased to be trustees of this Trust. Sonla Lucas became churchwarden and therefore became a trustee. Trustees are not recruited but become Trustees as a condition of their role within the Church. A committee has been set up to recommend to the trustees which grant applications to accept. The committee currently consists of a church warden from each of the three parishes the trust covers (New Barnet, East Barnet and
Lyonsdownl, The Lay Vice Chair of the Deanery Synod, St Mary's School's Chair of Governors and the Archdeacon of Hertford. The trustees then vote on the recommendations of the committee but no trustee would vote on an appllcatlon relatlng to a church they were connected to. The Trustees meet at least twice a year, two Trustees forming a quorum. Alternatively, decisions may be taken by means of a resolution in writin8, signed by all the Trustees. The inductlon and trainlng of new trustees15 based on the comprehensive information available from the Charity Commisslon website. Assoclated Charltles Most of the Trustees of this Trust are also Trustees of Holy Trlnlty Lyonsdown Parochial Church Council {known as the PCCI. This was the intention of the founder. The Trustees have reviewed the process of allocating funds to apply robust precautions against any conflict of interest and will apply thls In future years. Admlnlstratlve Informatlon The Trust Is based at 18 Lyonsdown Road, New Barnet, Hertfordshlre ENS IJE and the secretary was Robert Baym3n until 0910712024 clo the same address. From 09107/2024 onwards the secretary became Jennifer Robinson Beswick c/0 the same addre55. A bank account in the name of New Barnet Parochial Schools Trust is held with CAF Bank Ltd., PO Box 289, West Mallln8, Kent ME19 4TA. Annual Report approved by the trustees on 10 July 2025 and s18ned on thelr behalf by: Luke Cowles- Trustee Sl8nature
Statement of Financial Activities 2024 total unrestricte(I 2023 total unrestricted note INCOME Income from charftsble actlvltles Rent from St Margaret's School Investment Income Bank interest Total INCOME 63,500 63,500 1.934 65.434 472 63.972 EXPENDITURE Expondllure on charltsblo actlvltl•s Grant fundlng Bank fees Other costs Total EXPENDITURE 53,459 26,352 45 Ic 2,894 56,413 26,397 NET INCOME I (EXPENDITURE) 9,021 37.575 Unreall8ed- Inve$lment8 4b 15,232) 119,656) NET MOVEMENT IN FUNDS 3.789 17,919 BALANCES BROUGHT FORWARD 365,040 347,121 BALANCES CARRIED FORWARD 368.829 365.040
Balance sheet ASSETS 2024 2023 note Flxed Assets Investments - Ruffer LLP Totals 4b 270,175 270,175 275,407 275,407 Cuttent Assets Cash al bank rotals 98,654 98,654 89,633 89,633 NET ASSETS 368.829 365,040 FUNDS 2024 2023 nole Unrestricted funds General funds 368,829 365,040 FUNDS TOTALS 368,829 365,040 Approved by the trustees on 10 July 2025 and slgned on thelr behalf bv: Luke Cowles- Trustee Slgnature
Notes to the Accounts l Accountlng Pollcles The financial statements have been prepared in accordance wlth the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 amended to February 2016 (Update Bulletin l),. the Financial Reportlng Standard applicable In the UK and Republic of Ireland IFRS 1021 amended to July 2015,. and the Charities Act 2011. The Trust constitutes a public benefit entity as deflned by FRS 102. The financial statements have been prepared under the historical cost convention. la Funds General funds represent the funds of the Trust that are not subject to any restrictions regarding their use and 3re available for application on the general purp05e5 of the Trust. The financlal statements Include all transactions, assets and liabilities for which the Trustees are responsible in law. Ib Income Income and endowments are included in the Statement of Financial Activities when the Trust becomes legally entStled to the use of the resources,. Inflow of economic beneflt is probable,, and the monetary value can be measured wlth 5ufflclent reliabllity. Rental Income Is recognlsed when the rental Is due. Amounts owing to the Trust on 31 December In respect of rents or other Income are shown as debtors, less provision for any amounts that may prove uncollectable. 1¢ Expendlture and Llabllltles Llabllltles are fecognSsed as soon as there Is a legal or constructlve obllgatlon and settlement Is probable and quantlflable. Grant funding is recorded when paid over, or when awarded If that award creates a constructlve obligation on the Trustees. Irrecoverable VAT Is charged as a cost a8ainst the activity for whlch the expendlture was Incurred. Id Flxed Assets Tangible fixed a55et5 for use by the charity are capltallsed If they can be used for more than one year, and cost at least £1,000. They are valued at Cost or else, for 8lfts- in-kind, at a reasonable estlmate of thelr open market value on recelpt. For land and bulldings, see Note 4. Depreclatlon Is calculated to wrlte off the capltallzed cost of flxed assets less thelr currently antlclpated resldual falr value over thelr estlmated useful Ilves, Soclal Investments are shown at hlstorlc cost wlth accrued Interest added. le Statement of cash flows The flnanclal statements do not Include a statement of cash flows as the charity con5tltutes a small charlty under the SORP as amended by Update Bulletln l. If Support costs Support costs represent expendlture that does not dlrectly relate to a speciflc actlvity. All sUPPOrt costs have been allocated to charltable actlvltles because any allocatSon between speclflc actlvltles would be Immaterlal. 18 Cash at bank Cash at bank represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisitlon. Deposlts for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year Is disclosed as a fSxed asset Investment. Ih Investments Investments are Included In the flnanclal statements at market value at the balance sheet date. Realised and unrealised gains and 105ses on revaluation and dlspos31s occurring In the year are reported on the Statement of Financial Activities.
Rent Income Income from the London Borou8h of 8arnet is scheduled for payment quarterly. Grant fundln8 Beneflclarles Purpose Educatlon 2024 2023 An individual 2.000 Highview Montessori nursery St Marys Church - Childrens Chapel An individual Equipment 3.036 Renovation 1,350 Education 1,052 2,052 St Jame5 Church- fundlng school unlform Hardshlp fund 1,7CN) 1,71Kl St James Church youth worker St James Church- funding English lessons Salary Community support 24,561 22,OCN) 6C(I East Barnet Baptist Church - part tlme Chlldren & Youth Worker Salary 6,960 ECCR/Just Money Movement- Barnet Actlvitles Prolect Salary 12,200 53,459 26,352 Total Grants glven to St James= £26,861.00 4.Flxed Assets 4a Property The freehold land and bulldlngs comprlse the present St Margaret's Nursery School, Margaret Road, New Barnet. EN4 9NT. The Trustees hold the school In trust under the Schools Sltes Art 1841, by whlch, should It ever cease to be a school wSthin the meanln8 of the Act, the proceeds from the slte would revert to the estate of the orl8lnal donor. A capltal valuatlon of the slto and buildin851s, therefore, not Included In the flnanclal statements. 4b Investments £194,000 was invested in a portfolio with Ruffer LLP in 2021, and a further £75,000 on l June 2022. A netloss of £5,232 took place in 202412023.. net loss of £19.6561 after deductlng fees and charges of £nll. 2024 2023 Brought forward Transfer from cash Into Investments 275,407 295,063 Change In valuation Carrled forward 15,232) (19.656) 270,175 275,407 Related Partles The key management personnel of the charity constitute the trustees. There are no staff members. The trustees received no remuneration or reimbursement of expenses durin8 the year (none in 20231. The Rev Canon Laura Hewltt was a trustee of both New Barnet Parochlal Schools Trust and St James's Church New Barnet in 2024 when total grants were awarded to St James's New Barnet of £26.86112023.. £24.3001. There was also an a8reement in 2023 that a further 2 years of funding for the St Jame5'5 youth worker element would be provlded but the exact amount for the second 2 years was not confirmed at that time. 2024 funding for the Youth Worker element was confirmed at £24,561 and It Is expected that 2025 wlll be slmllar. See table 3 for a full breakdown of grants glven to St James's Church. It should be noted that Rev Canon Laura Hewitt was not land ha5 never been) on the sub-committee who decide which grant appllcations Wuld be accepted. Fund Detalls
All charity funds are currently unrestricted. There were no restricted income funds in 2023 or 2024. Summary of Fund Movements l Jan 2024 Income Expendlture Galns l (105ses) 31 Dec 2024 General funds 365,040 65,434 56,413 {5,2321 368,829 Restricted funds l Jan 2023 Income Expendlture Galns / (losses) 31 De¢ 2023 General funds 347,121 63,972 26,397 {19,6561 365,040 Restricted funds Analysls of Net Assets by Fund120241 Investments £ Other net assets £ Total £ Fixed asset Investments 270,175 270,175 98,654 Cash 98,654 Llabllltles 270,175 98,654 368,829 Analysls of Net Assets by Fund120231 Investments £ Other net assets £ Totsl £ Flxed asset Investments 275,407 275,407 89,633 Cash 89,633 Llabilitles 275.407 89,633 365,040 All of the net assets are unrestrlcted. Independent examlner's fee The fee for the independent examlner for the 2024 accounts Is expected to be £750 plus expenses. Thls has not been accrued into the accounts as it was not considered material. The fee charged in 2023 was £756. Approved by the trustees on 10 July 2025 and slgned on thelr behalf by: Luke Cowles- Trustee Signature
Independent examinei's report to the tNstees of New Bwnet Parochlal Schools Trusl I report to the trustees on my examinalion of the accounts of New Bamet Parochial Schools Trust (the Twst) for the year ended 31 st December 2024. Responsibilities and basis of Tep(xt As the charity truslees of the Trusl you are responsible for the preparation of the accounts wi accordance with the requirements of the Charities Act 2011 ('the Acf). I report in respect of my examinalion of the Trust's aCcOts carried out under seclion 145 of the 2011 Act and in carTrryng out my examination I have followed all the applicable Direclions given by the Chanty Commission under section 145(5Xb) of the Act. Independent examlner'g Slatemenl I have completed my examination. I confimi Ihat no material matters have come to my attentK)n in connection the exanNn*"on giving me cause to believe that in any material respecL' 1. accounting records were r1 kept in respect of the Trust as required by seclion 130 of the Act: 2. th8 accounts do not accord with those records; or 3. the accounts do not compty wilh the applicable requirements conceming the form and conlent of accounts set in the Chaiities (Accounts and Reports) Regulations 2008 other than any requirem8nt that the accounts gNe a 'true and far view. which is not a matter consKlered as part of an independent examinatK)n. I have no concems and have come across no other matters in connection with the examination to which attenn should be drawn in this report in order to enable a proper understarKling of the accounts to be reached. Signed: Ruth Savage. BBA (Hons). MICB PM.Dip Savage Nine Ltd. 52 Ashley Stree( Sible Hediryham. Essex. C09 3EH 11th Juty 2024