Charity number: 1151698 THE MONIMOUTH SCHOOLS, CHARIT ABLE TRUST TRUSTEES, REPORT. FILNANCIAL STATEMENTS AND IYI DEPENDENT ELLMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020 THE MONMOUTH SCHOOLS, CHAiUTABLE TRUST COIYTEIYTS FOR THE YEAR EINDED 31 AUGUST Z020 P4%e Trusi¢c& otyicers and advisors Trusie¢s' repon Iiidependenl Exaininerfs report Statement of Financial Aclivitieg Balance Slieel Notes to the Finan¢ial Siaienienis THE Mof44MOUTH SCHOOLS, CHARITABLE TRusr TRUSTEE& OFFICERS AND ADVISORS FOR THE YE.IR DED 31 AUGUST 2020 Chairmlln Mr Dai'id HIICh￿￿k Trustces Mr ￿lartIn Anderson Mr Richard Booili. QC Mr Edw'ard Builer Prof RiLI)ard Canwardine Mr Audley T￿.15￿on-Dd￿i Sir Frank Da¥'ies CBE.0s￿ Iresi¥ned l. l ? ?01 Mr Warreii Ei& sl CBE Mr INoel Imanns Mrs Bnd¥ei B3rker Ms Charlotte Hume Ms Claire Martiiiseii lappoinied 7.10.191 Ms Abi¥ail Llei¥ellyn-IV3tery lappoinied 7.10.191 Mr Julian Sie¥ens Se¢retary Tessa Norgrove Registered Office Montnouih School Almshouse Street Monniouih NP75 3XP ChAriry Numhcr B*nkers Lloyds Bank plc 18 mon110￿, Street Moniiiouth InvE5tment r*l#rtl8ers Sarasiii & Partners LLP ju.xon Hvuse 11111 Si Paul'£ Churchy3rd Londo EC4MI 8BU NP2) 3XH Indepemdeni E¥&mlnor Guy Biy¥in FCCA Crow¢ U.K. LLP Carnck House Lypiaii Road Solicitors Veale Wasborough Vizards Na￿01￿. Quay Bristol 8SI 4QA Gloucesietshire GL5n ?oJ THE MOiYMOUTFI SCHOOLS, CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGDST 2020 Stoiemeni Ib(Trustees' Responslhlllrles The Trustees are responsible for preparing the TTU5fees' Annual Rewrt and the financial stalenieiils Iii accordance iviih applicable law and United Kingdom Genernlly Accepied Accounting Prn¢ii¢e Iulliied Kingdom Accounting 51andaTdsl. Tbe la￿ appliLable 10 charilits in Ertyland and Wales requires the Trnsiees to prepare finaiicial siateiiieiiis for each fin3ncial ytdr ￿TrI1£h yiye a truc #nd fair ￿1¢￿V of Il)¢ siiit of affair5 of the Charity 3nd of the incomiiig resources and application of reSOUFce5 of Ilie Charity for thai ptriod. In preparing IhL%e fTnan¢ial siaiemenis. theTrusie￿ are required to.. select suitable Kcounling policies and then apply theiii wiisisienily.. obserne the nietliods and principles in the Chariiies SORP-. niHkc Judby￿entS and ￿tIMatC5 Ilial arc reasoiiable and prudent., state whether appli¢able accounting s13tMdards haNe been follow¢d. subj¢ci 10 any maierial departur￿ disclosed and eKplained in the financ1al stalemenls., prepare the fiiiaiicial statements oil lh¢ going ¢on¢¢m basis unless il is inappropriate 10 presunie thai the Charity will ¢oiitiiiue in business. The Trustees art responsible for keeping adequate accouniin¥ records that are sufficient ko sliow and explain the Charity's Iransaciions, disclose with reasonable accuracy ai any iiiti¢ Ilie finanLial posilion of the Charity dnd endble them to ensure thai Ilie finan¢ial siaieinenis They are alw respoiisible for saf¢guardillg lh¢ a5s¢is of Ilie Chaniy and hence for iakiiig reasonablt steps for Ilie preveniion and dete¢iion or fraud and other Irre¥ulanlie5. Structure. CoverThancc M2nAgement The ￿(onMo￿th SchiTh)15' Chgntable Trusi was esiablished on 6th February ?Vl 3 by a Deelaraiion ofTrus1. as an un1ncory￿r￿¢ed asso¢iaiion and registered as a cliarity with the Clianty Comini55ion und¢r rewsirniion number 1151698. The Board of Trusrees lias beeii sele¢i¢d froni Ilie breadili ofavailablc lalcnl in the currcni parcni and aluiiini Lyiiiniuniiy. Tlie Trusieeb are largely Inade up of fornier pupils and liBve been c8refvlly chosen 10 pmvide a depth of exp¢nenc¢ In 131%. business. academia and prior experience of fundraisinL. The Trustees comprise three '¢x officio INsiees who sliall be Ilie Chainman of Ili¢ 80grd of GoNernors of the Haberdashers, Monniouih sc11￿15, tlie clia1rn￿￿ of the Mollmoutli Sch(K)I for Boys Conimittee and the Cliainnan of ihe Moiinioutli Scliwl for Girls Conimillee. Co-opted Trustees shall be appointed for such terms of office Iiioi exceediny ihree yearsl as the Tru51ees shall re501ve. The Trust 15 adiiiillistered on a day-to-day basis by Ili¢ Bursar. Ihe Dei-elopmeni Director Eind other siafrofwionniouth School for Boys. The Trustees car and iitrL' used ID trI￿e addiiinnal leL SUPFK)rt 10 faniilies i1.hosc incotne or abiliiy 10 WO￿ liad been &eveTely itnpacted. Futuro PlThns The i%ork of the Trust this year has been inipacled both n¢gaiiv¢ly and posilivcly by the COVID-19 paiideinic. Most events have bL*n postponed and the learn has had to explore dilTerelli ivays of enggging With Ilieir meniber base iNhich they ivill con11nue lo dekelop Dvtr the coniiny vear. ReBular eLoninis are now bein¥? stnl iyiih recent aiid updates on how ihe schools IlTe operating differently during Ihc pand¢iiiiL. Fl¢¥ibl¢ ivays of 8iviiig have been s¢t up on Ilit i¥ebsile 10 eiiable botli r¢gular direci debilg artd one-off paymenis. The second ieltplione camp*i¥n ￿,hICh hcid beeii planiied for Julie ?11?U liiid to be postponed but is ntsiv resLheduled for June ?1. Work Is also progressing 10 dcv¢lop a Compuier ScietK¢ Cenire ai Mi onniouih School for Boys aiid a subsianiial Amount of the le¥acy income iii Ilie vear has been sei asid¢ for this project. Mr Jaiiies Murph>- O'connor Joined tlie ScliLwIs ln Sepidrbtr ?1119 as Principal. overseeiiig tlie loninoutli group of Sihools. Under his direcrion the f￿￿5 of Ilie Tru51 i¥ill be grouTri*ide. ¢o¥ering Dirls and boys. Hi i¥111 lead a group alled Moninouili Pairons and all T￿SteeS of tlie fvloniiiouih SLhools Ch3ri13ble Trust will autoiiiatically become members of Ehis patron group. Risk Tlic lolloi¥ing r(Kik place durin¥ the vear 311nual reilJV of nsks faLed by the Trust.. esiablishmeni and re￿ie1￿ of gysiems and procedures io iiiiiioai¢ Ihose risks.. and establisliiii¢ni and reiiew ofprocedures to 1111niniise the poteniial Iiiipacr oli tlie Trusi should any ofihos¢ risks maierialisc. The main risks Identified by Ihe Trustees cite Iniestment risks aNI ppropnaie applicaiion of re5tncted funds whicli are toih subject lo ¢Otnpreliensive niana¥erneiii procedures. THE MONMOUTH SCHOOLS, CHARITABLE TRUST TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 202D Ini'e5tment Polie Und¢r the terms ofihe Trust Deed. Ilie Trusttts have general poivers of invesimeiii subjeci lo rhe proi'isions of Ihe Trusiee Invesimeni Aei. The owerall policv of the Trustees 15 to Tnainrain balanced portfolio which includes Fixed Interest Bonds. Gills and Equiiies. Invrflment Inay be direct InEO individual share5 or %'ia apprLynaie collecliNe5 orolhei relevant in51rumtnis. Tht Trusiets do not intend io Iiivest directlv in liiBh risk deri¥aiives. The Truste￿ h8ie transferred sunis identified for ￿tUre iapiial dek¢lopnieiit to Sarasin & Partners LLP alld have a￿eed Ilial Ili¢ funds under Iheir managemtni should be dei'oied 10 equiiies ￿tkIng 10 max1niis¢ growih and Income. During Ili¢ year an addit101131 £55.IM)O that been earmarked for the redeNelopinent of cornpuier science facililies ikas Iransf¢rr¢d inio Ilie rund. At 31 August 2070 Ilie Mark￿ value ofthe fijiids iv3s EI12:81412019..£ii.17213nd Ilie unrr&li5cd ¥ain on the investni¢nis during Ilie A fund balance of £ I l ? X14 r¢main5 under the mangg¢ineni of Sara5in & Pgrtllers LLP ai 31 August 207U which is sei aside for thiure capiial dev¢lopment costs incurred by Montnouth Sch￿1 for Boys. Reserves Pollcy R￿erVeS held as restriCEed funds are for specific purposes as requegted by donors. The Trustees atKI GoNemittg Body of Ihe Haberdashers, Moiiiiiouili Scliools liave Jointly a¥reed that for the foreseeable future 311 tlie costs of raising futM45 5hEiII be bDme by fvloniiiouill Silinol. Tl)¢ Trvsiees do noi Iherelore coiisider Iliai there is a nttd to ll131ntaiii any fixed level reserve5 as the Charily ha5 no cominilinenis for expenses. The secunties Inieslment5 held at 31 Augusi ?11?0 are lield in respect of fviure capiial projeci dek¢lopmeni costs for which there no cominilmenls at 31 Au¥ust ?0?0. £5.3131?019-. £5.3131 ofunt&litLled futtds ii.ere held at (he %ear ￿d. inllncilll Rcvieiy The finaNcial slalenien15 on page5 7 10 15 ha%'e been prepared for Ilie year ended 31 Au￿￿$1 ?Q21). In¢om¢ for tlie year lo J I AUBUSI 20?11 aniounled lo £?10..I118 1?1119.. £135.7131. Costs of raisirt¥ fvnds were El l ? 613 1?019. £R6.7611 These costs haN'e been by a coutribution from Haberd&shers' Monmouih Sch￿1$. fhl Trustees and th¢ Goveming Body of Haberdashers, fvlonmouih sch￿1￿ ha￿e jointly abreed thai Ihis y¢araDd for the fortst¢ablt fviur¢ all th¢ cosis of raising fund5 shall be bome by the Schools. Charitable expenditure was £134.¢)2X I?111g.. £111.j.?841 . The exp￿dI1￿re In ?019.?(J represeiited grdnls to Monrnouih Schwl for Boys, Monmouth School for Girls and Moninouili Pre-Prep and NU￿try io be used for educaiioiial fee suppotE. IAvesimeni IranagL'iiieni in lh¢ vtrar aiiiouni¢J to £63112019.. £6101. Relltionship with ConDected Pllrtie$ Th¢ Trust lias no relationships with connected parties with the exception of ihose transactions disclosed in noi¢ 5. Going Cvnccrn The Trustees and nianabTwieiit have b¢eii nioiiitoriiig the poteiitial iinpact of COVID.19 on its acti%iiies. and income projeeiions liave beeii prepared. Tlit casli positioii Is also beiii8 nionitored oil a iiiore regular basis. As a result, 31 ihe date of signinB, these finanLial siaieincnts The Trusiees ¢onsidLr thai Ihe Trusi is ¥k¢ll placed 10 coniinLie meeting tis karious edu¢aiional objects and Ehe current range of aciiviiies is expecied 10 remain in place for the foresevablt future. For and on bchalf of the Trusites D Hitchcock Cbalrman Date 10 Ma￿h ?0? I THE ￿l01￿moUTH SCHOOLS, CEL4RtT ABLE TRUST INDEPENDENT EXAl*llNER'S REPORT TO THE TRUSTEE5 OF THE ￿]0￿￿1 OUTH SCHOOLS, CTrIARITABLE TRusr I report io the Irusiees on niy examination Dr the a¢courtis of The Monrnouth School$. Charitable Trus1 Iihe Trust) for the year ended 31 Augtssi ?010. i¥hiili ar¢ sti oui in pages 7 10 15. This report is made sol¢ly 10 IhL Cliarriiy's Irusiees. as a body. in accordance ikiih section 154 of tlie ClianiiL% Act ?Ul l. My indepetdenl txamin¢ls ￿ork has been undertakeii so that I tniglii slate to the cliar1ty's Irusttts those Inatters 1 3tn required 10 stai¢ 10 Ilitm in ali Inde￿nde17t exalliiiier's repon aiid for no ollier purpose. To the fullesi extent pelliiiiied by la1￿, I do noi aLLePI or a>suille responsibility io aiiyone oiher Ihiln Ilie chariry. Ilie cliarily's InenibeTS JS a bodv aiid tlie cliariiy's irus1￿5 a5 a body for niy Indepei)d¢iit ¢xa111111er'5 ￿0￿1. for this report. or for the opinions I haie loniied. RespoDslbilltios gud b2sis of roport As rlie ih£lnty trusiees of the Trust you are respollsible for the preparBtion of tlie accounis in accordance with the requiwnenis of Ihe I report in respeLI of my e.xaminaiion of the Trust's accounts carried out under section 145 of Ilie ?01 l .Act and in c3rryin8 out niy IndepoDdent ox&miDor'5 StAtemeTht m¢ cause 10 beli¢¥¢ Iliai In aiiy n13terial r¢5pe¢i.' accouiitiTrg records were not kept In respeci of the TTUSI as iequired by section 1311 of Ehe Act., or 2. Ilie accounts do not accord WiEli ihose records.. or 3. the accounis do not comply wirh tlie applicable r¢quirein¢iiis coii¢¢miiig Ihe forni and conient of ihe accounls sei oul in the Charities (Accounts and Reports) Regulations ?008 other Ilian any requiretlleni that ihe accounts gii'e a'irue and faiff ￿l¢W which is a matter on5idered as Pdrt of an independeiil e.Kamindiion. report ln ord¢r 10 enable a proper Und¢￿tandIn0 of the accaunts to be rea¥hed. Guy Biggin FCCA Croii'e L.K. LLP Camck House Lypiaii Road GIouLeslershire GL50 ?QJ Dai¢ 18 March 2021 THE MONIMOUTH SCHOOLS, CHARtTABLE TRUST STATE￿IENT OF FIbNANCIAL ACTJVITIES FOR THE YEAR ENDED 31 AUGUST 2020 Unre$tri¢iEd Designatrd REStritted Fllnd5 Furtd$ Futtds To¢41 2020 Toial 2019 Note Incomo from.. Donaiions Investnients 90.9711 ?13.001 Total ltheome 116.308 E¥pondituro on.. Raising funds Fundraisingl &. Dewelopiiient Less.. Confribuiion from Monmouth 5ch(K Cbaritable Activities Granrs gnd bu￿arleS 134.9?8 134.9?8 TotAI cip¢nditur¢ ioJ.x Net 8ain4{losstsl on inwesinienis 1,045 Net illcomellexpollditurol 3i.R64 Nct moiement fund5 80,775 33.864 RL*onclllidon of funds Total fvnds broughi forward I September ?ni 9 Totol futhd% ¢¥rried foriward JI August Z020 17.453 ?9!.766 18E.901 ??.7h6 The note5 on pages 9 10 15 form pan of these finaiicial statements. THE MONMOUTH SCHOOLS, CHARITABLE TRUST BALANCE SHEET AS AT31 AUCUST 2019 Note 2020 2019 Filed ￿5￿ets Current *5seÉ5 Debiors.. aihounls due ￿1th1n oli¢ year Cash at baiik aiid in hand ?9.6011 161.1kn7 jO?.6B3 190.7?7 Crediiors.. aiiiouiiis fallirtg due within one year 145 ?(N)I Net current asseig 190.7?7 167.i94 Totlll Tret &sscts 303.541 ??? 7&6 The Futtds of th¢ Chkrity 205.939 tksignaicd income Fuiids Unrestricted Funds 303,541 ???.766 The financial 51ateTnenis liave been approYEd by tlie Trust¢¢s on 10 March ?0? l and signed on tlieir behalf by.. Sjgneil hehAlf of the D Hitchcock T Yi or%ro*e Bur$thr Chairman The notes on pa¥Tes 9 10 15 form part of ihese financial siaiemtni5. THE MONIMOUTH SCHOOLS, CHARITABLE TRUST NOI'ES'ro'rHE FINI ANCIAL STATE￿IEY1 TS FOR THE YEIiR ENDED 31 AUCUST 2020 Actounting Polleies al Lo¥al Stxtus of tht Chadty Thc Monniouih S¥liili)Is' C113rit3ble Trusi ivas re¥isiercd ikiih Ilie Chariiy Comnii%sion for Eiiglaiid alld Wales 011 6 February Trni 3 Ir¢gJsitred number 115169x1. li'q registered addre% and pniicipl¢ offi¢¢ is Moiiniouth S¢hool for Bovs. Alllishouse Slteet, Mi Olitnouth NP?53XP. bl B2515 01 Prepii ratio The financial siaiemenis have been preparthl in aecotdance with Accounting and Reportin¥ by ChiE riiies.. Siaieineni of Re¢ommeiided Republic of Irelgnd IFRS 11121 and Ilie Financial Reporting Standard applicable In the U111ted Kiiigdoni at]d Republic of Ireli£ lid IFRS 1021 and the Charitie5 Act 2011. The fin3nLi*l siaiemenis liave been prepared under the historical cost convention with the exception of invesimenis which are included al niark-cl ￿alUe. The Moninouih Schools, Chatiiable Trust Ineets the definiiion of a public benefil eniily under FRS 10? ¢1 Going CoTrccrn Policy Tlits¢ fiiiaiiiial staienients hav¢ been prepared on a going ¢on¢em basis. The Trust¢¢s have re¥'iewed this positioii in light of th¢ 5ubsegueni COVID- lfj pandemic and remain oFih¢opinion Ihai Ihtre art no mai¢rial unceriain1l￿ about the Trust's ability lo Coiiiinue. Additional scrutiiiy will be pui In pla¢¢ 10 ¢nsur¢ thai grants aivarded ar¢ susiainabl¢ from fvt￿$ in place. dl Fund Accountin The folloiving typ￿ of fund are mainiainal,. Re5tricied Fund5 hold income recei￿ed for purposes specified by donors or by the lemis of an appeal. D¢signated Funds hold income earniarked by the Trustees for capital project5 at Monmouth Sch￿1 foi Boys. Unre51ricied Funds re¢eive Income which is expEndable al the discretion of the Trustees in furtheran¢t of Ihe objects of Ihe Trusr. e) Income All incom¢ 1s recognised ln the Staternent of Financial Aciiviiies ¥vlien Ih¢r¢ Is entiilenient. probability of receipt and the ainount can be M¢￿ured witli sufficient reliability. Donations and all oih¢r receipis from fvtxlraising gre reported gross and any fundraising costs are reported In other expendirure. Tax recO￿erable relating to donations Is accounted for In the sanie pe￿0d as the related incoine. f) Lc¥x¢ies Legacies are recowised as receivable once probaie lias been granted and nolilication lias bee￿ rtteived itr sullicieni Inlomiation FeLarding ihe ￿alUe is proi-ided. Enliiletnenl io legacie5 Inay be Included in the year of noiifi¢aiion subject 10 the fvnds bting re¢¢ivL Inonil)s afttr the ytdr-ertd. g) Costs o( Ra15iDR Fund$ Cosis Incurrad in fundrni5iTrgT for donations ale shown as a separaie line of e.Kpenditure 111 Ilie Siaiemeni of FinEinci&l Acii¥iiies. These inilude salari*a and Lh1E r￿eS for speLifiL staff In￿OlVed direcily in fundrdising aLli￿ll1e5. The Truslees arid Ilit GokeniiTlb Biyjy of loninouili Scliool ffor Boys lia￿e joiiiilv Eiyreed Ihai for ihe foreseeable tulure all Ilie c0515 ofraisinb furds sliall b¢ bvnie by fvloninDuih gcli(Kil for BDYS. The Cliariiy is noi re¥isiered for VAI. and Irrec0￿e[lG ble VAT 15 in¢ludtd wilh the iieni of ¢¥pens¢ to ￿,171¢11 11 relaies. lil C-haritnblc Expenditure Chariiable expenditur¢ Includes all eypendiiure direeily relai¢d 10 Ilie objecis of Ihe Trusi and is recorded on an aCC￿al5 bas1s Inon- rani eypeiidiiurel or. for ¥Trants. rew¥Jiiised aLLordinbi 10 Iht dait on whi¢li ¢3¢11 award is auilionsed by ilie Trusiee to the extelli tliai Iht b¢n¢fi¢iary Inay ￿e￿onabLY expeci 10 r¢¢eive it, wl*iher in a current ytaror in a future y¢ar. i) Tax4tioD The Trusi is a re¥1$1ered Cliariiy. aivj such is eniiiled 10 ia.%aiion eiempiions on all ini0￿ properly applied for lis ch3niabl¢ putposes. THE MONMOUTH SCHOOLS, CHARtTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2010 (continued) jl Cish Ind ¢1sh cquiialcnt5 Cash is rePr￿ented bv cash in h9nd arKI dtposils with financial ins11ruiions. Cash eouii'alenls and currenl inve51men15 are higlily liquid and Inaiure in no more than three nionth5. kl Debtors Oilier d¢btors and aniounis due from Moiiniouth SCI￿01 for Boys are recognised at ihe seitleinent ainouni. 11 Croditor5 Creditors dre rett)snised where the Chariiy lias a present obligation resuliing from a pasi ei'eni thai will probably re￿11 in Ilie transfer of fund$ 10 a third party 3nd ihe aniouni due 10 settle the obligation cali be illeasured or esiimaied reliably. ml Iove5tments Incoiiie froiii ini'estmenis is included in Ilie Siaienient of Financial Activities only if received. or dLrlared and recei￿￿ble. Gains or losse5 arising from Ilie r¢i'aluaiion Dr Inv￿1￿¢n1s are dtrdlt willi in Ilie Siaiemeni of Financial Activitie5. Inveslnienfs 3re stated ai market ¥alue ai the balance slieei dele. l Finoncial Instruments The Chariiy only lia5 fiiiancial assets and financial liabilities of 3 kind that qualify as bgsic financial 1nstryni¢nis. Ihese bein 31ue and subsequeiirly In¢&sured ai their seiiiemenl value. FinaiKig1 ass¢ts include in%'esimenl& ca511 ai bank and in hand and other debtors. ol Crltitll accounting judgement5 ￿nd key sources of esti￿￿tIOn llDcertlllnt)' Preparaiion of Ilie finanLial siaiemenis requires tllanagemeni 10 consider making aTry si￿11r1Canl judg¢m¢nis and esiimaies where li￿esSary. There ar¢ no iiems in the fin3ll£131 staienieiits ivhtte si¥nificani judBemenis and estiinatiolls liaie been made. 10 THE MOINMOUTH SCHOOLS, CHAIUTABLE TRUST NOTES TO THE FILNANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued) Att4ly81s of Don2rtODS gDd Le%Jeles 2020 2019 Doiiaiions Legiicie5 ?13.(161 Flyed Asset Invosttnonts 2020 2019 Investment Incomo Dividends 7.5U I Securitics Invc5tThcllts 2020 2019 Alpha CIF for Iiicome and Reserves Income shares Cash I lQ,658 5?.5t)4 ?.668 2019 MtFkei Value as ai 151 Sepiember ?019 Pu￿1￿￿e8 Disp05a15 Cash Mo￿ement In￿￿¢men1 managemeni costs Realised and unrecl1i5ed Ilossesll¥ains M&rkei value as al 3 Isi August ?020 Historical Cosi 107.?97 49.16 THE ￿[ON￿lOUT￿l SCHOOLS, CHARIT ABLE TRusr NO'fES TO THE FINANCIAL STATEMENI TS FOR THE YEAR ENDED 31 AUGUST 2020 leontinuedl Analy515 Df expethdliure Sillff Cos15 Othor Cost5 1020 Total 2019 Total Note Costs 0( RthislJ(p F￿ndS Fundraising & developtnenl 46,198 47,95? 94,150 61,653 Tra¥el Offiie expenses Professional fees TeLI)nology wsts Investiiienl Tnanab*emeni fees Coniribuiion froiii Moninoulli SCI￿01 Total 1.837 807 807 3.10? 10,663 10.663 46.1981 66,4151 610 C-haritible ACti￿ltE￿5 Bursanes and al￿￿1rd5- Haberdasliers. Monmouih S¥hools 134.9?8 134,928 103 ?¥4 Toral Expenditur 135.559 IOJ.894 Ind¢r&wd¢nt eiatnindlion lees ol'£i.116111)019.- t) 98?) dre mei b* HQbtrdJbh¢￿, Moninouih SLli(K)1s 2020 2019 Sli larles and wages Salaries and SoLiJl stiurily COSIS 38.554 3,78 3.855 36,?79 3.RJ5 3.630 4fi.19X De￿eloP￿7entr staff responsible for raising funds are employed by klonmoulh 5cliool. No eTnployees receibed reniuneralion of iiiore than I'nJslLKs rcciIv￿ r¢imburned e.xpens￿ during the Jear o1-£7J l?019.. £Nill. t￿rIng ihe )'ear nu Trusiee reLeii¢d giiy r￿n￿ikTailo17 or other b¢neIl￿ 12019.. £Nili. S Relai¢d party tr&n5&cti0Th5 Th¢ Trustees and tlie Go&eniin¥ Body of the Haberdashers, ￿1 loi)iiiouili Scliools liave Jointly a¥recd thai for Ihe foreseeable tuture all tlie cosis of rdising funds 51iall be bonie b>. Hab¢rdas]ie￿, Monrtinuili S¢liwls. £1 J4.l)?8 ol'burqaric% i%'ere aisarded ti) I lJberdJshLfs' MLTrnmvuih Schoo15 in rh¢ !'¢gr. AI 31 Au¥TUSt ?Q?O amounts owed to Haberdas1￿[5, Imoiirtiouili Scliools withiii l year an￿u￿1￿ 10 EJNil l?111g.. £45.?IHII and amouiiis Dohtors.. aJnouTht5 due iyithin )tar 2020 2019 Other debtors Gitt aid clainiable 7 Credllors.. amount5 falling (lllc within one year 1020 2019 Haberda$hers' M0￿[￿￿Uth Schools 45.)tM) 12 THE MONfvIOUTH SCHOOLS, CIIARITABLE TRUST NOTES TO THE FINAYL CIAL STATEMENrs FOR THE YEAR ENDED 31 AUGUST 2020 {eontinued) 8 Re5trl¢ied Fund$ Fund 400 Tlie Trustees are restricted lo usiiig ilie Funds. iii Ili¢ fomi ofassisied p5a¢es and bursaries. 10 help pro￿ld¢ a Monmouth se￿01 for Boys education 10 cliildren I￿110 would not othenvise be able to atFord io ?It¢nd Ili¢ School. Tbt Phillips Fthmllv Fund Israblished to tiind a meillls lesied bursary at Moninoutli School for Boys for Ihe ben¢fii ora pupil from Ilie Moninouili area. Sixth Form Scholarship Awatded ID exiemal ¢aiididaiL'S who sil the Si.¥lh Form Scholarship e.xainination al Monmollth School for Boys. born ILKally. haN'¢ a¢li1e￿ed BradL% ai GCSE si¥nifiLanilv abo¥-e averaBe and V¥lio are iniendiiig to apply to C3nibndBe or Oxford University. 'rhc Warren and Amaoda Ea$t Fund Don31ions 5peiifiially lo IKlp finaiiLe neiv building projects al Imoiimouth School for Boys. Anottymou5 Bursary Fund To be used lo support a mean5 iesled bJr5ary al Monrnouih School for Boys and Monnwllth Pre-Prep and Nursery. Thc IValli5 Fli mlly Fund Tli¢ Trust¢es are reslri¢ted lo usiiig Ihe fvnds specifically for mtans itsied bursary fur￿1ng ai Mommouih SLhoDI For Boys. OM Burs&rj Fund Specifically ￿ support buryari¢s for pupils Iii fvloninouili Sch(M)I for Boys. The E B Smith Cricket Fund Fund5 receiied speLifiLall) to JW2rd a scholar511ip to a pupil e¥ce111ng at cricket at Monmourh School for Boys. Gwllll&JJa LeRacy Funds recei￿ed specifically io support a pupil at Moiiniolltli Scliool in pur5Ult of e.xcell￿¢¢ iii ru¥by. illiim Jone% F￿nd A bursary and scholarship fvnd 10 provide l￿u¢*I10n 10 boys and girls of ability frDni the local area. Hllrdship Fuh¢J Funds recei￿ed to support parents adNersely affec1& by the COVltk19 pandemic. 8 De$lgnated Funds The Houlil¥reii%e$ Lega¢y Inconie desiyiaied by the Trustees for the redeNelopnient of compuieT sci¢n¢¢ facilities ai Monmouth Schwl for Bgys. Movemellts for the year are as follows.. At I Stptettther 2019 At 31 A￿gUSt 2020 EipEnditure GHiD5 Lossos Resirleiod Funds Fund 4(N) 15.009 43.058 1!7.51)91 Tlie Imaiins si.xtli Form sC￿larshiP Tlic Warrcn and AiiiaiKla E￿1 Fund A Th)nynious Bursarv Fllnd 43.0) 56.465 1.fy)5 3O.IIIKJ 6.)50 1?3.0?71 75.001 Tlie E B Siiiith Cncket Fund OM Bursary Fund Qwilliani Legacy Hardship Fuiid Wi111ani Joiits Fund- Boys William JoTres Fund- Girls Total Restrieleii I 1.0 14,671 ?11.784 ?0.4611 7.955 ?05.93Y 117.453 Deslgnaie(l Funds 9?.59? Unrt5tricted Funds Total Funds 13 THE MONMOUTH SCHOOLS, CHARITABLE TRUST NOTES TO THE FILYANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 (continued) At 31 .4ugu$t 2020 Total ADalysis ofllct 15get5 behvcen fullds Fixed.4¥set Investments Current A5S¢tS Cllrront Llublllrles Unresiri¢ied Fund5 Desi8iiated Fiiiids Resiricied Funds 56.319 56.4L)5 35,970 14¢),444 ?05.939 Compurativo iDfornEatioD a5 At 31 August 2019 Movements for the yrdr were as follow5.' Al I Stptembtr 2018 Al 31 AuRu$t 2019 lThtonJe Expendltu G4in5 gDd L05SeS Re5trictcd FU￿d5 Fulld 4 17.9071 )o,oth)I 17,234 15.nl 43,058 55.14? 2?,jO4 The Mgnns Sixrli Fonn Scliolarsliip The Warren and Amanda Easi Fund Anoiivmou5 Bursary Fulld Tlit Wallis Family Fund The E B Sniiih Cnckel Fund BoardinbT Appe31 OM Butsarv Fut Perfonning Art5 Centr¢- Monniouih Girls Gwilliani Lryacy Williani Joiies FU￿ Boys William Jones Fund GITIS Tot*l RestrS¢ied FuDds ?.IM5 138,8671 6,250 15.IKJ3 13,0001 1 7.003 I t).050 I I,noo 110.0501 3.099 211.460 ?.663 217.453 183,589 1103.8941 2.045 bnr¢strleted Total Fllnds 188,90? 103,B941 1,04) ??? 76 At 31 August 2019 Total Anlll)515 of not A5set5 betwoon funds Fixed A$5et InvestmeDt5 Currettt A5set5 Current Liabilitie5 Unreslriclal Funds Resir1cied Funds 5.313 2117.4% I 145.?OUI 217.453 ?1? 794 4 j.!noi !11.766 14 THE IWIONMOUTH SCHOOLS, CHARITABLE TRUST NOTES TO THE FINANCIAL STATEfvIENTS FOR THE YEAR ENDED 31 AUCUST 2020 (continued) 9 Sta¢oment of Finllncial Actlvitios f(br ibe }eir endlthg 31 August 2019 Unreytrirted Funds Restricted Fund5 Totnl 2019 Income from.. Donatioiis ?.501 TotAI incomo Eywnditure OD.. Raisin8 fyndg Fundraising & Dthelopin¢nl Infvesimtni managemeni Less.. Contribution from fvloninouth School 6,761 610 Charitllble uctivities BU[￿rI¢s IQ3 ?84 Totll eYpL'ndltMre 103,894 103.X94 Nei losses on invesimenis ?,IMj Nel expenditure 33.R64 Nei movement in fynds J3,864 33,A(A Re¢oTrelllattoll of funds Toial tunds brouglii fO￿vard Totll fun(ls carritd forwird 31 Jtu%ust 2019 10 Post b&lllncc shc¢t eY¢nls Al Ihe Iiiiie of approval. Iht COVID-I(l ¥irus eoniinuts 10 d¢￿elop and ha5 Tro￿ been dc5i¥naled a ¥lobal pandeniic by ihe Wodd H¢31ih Oroaiiisaiion This 15 a iion-adJustin¥ posi balanLe sheet evenl and alihDU,,h both the short and lon¥t iem) effe¢lS oFihe rapidly our Trusiees, Report where ￿e have refleiied Ili¢ iurreiii siiuaiion. 15