Company registratlon number: 09978248 Charlty registration number. 1168392 St Peter's Formby Educational Trust 2015 (A company limited by guarantee) Annual Report and Financial Ststements forthe Year Ended 31 December 2024 HUGHE5 HARTERED ACCOUNTANTS
St Peter's Formby Educational Trust 2015 Contents Reference and Administrattve Details Trustees, Report 2to5 Independent Examiner's Report ststement of Financial Actlvitles Balance Sheet Notes to the Financial Ststements 9t018
St Peter's Formby Educational Trust 2015 Reference and Administrative Details .Trustees Reverend Anne Taylor Mrs Sarah Ellzabeth Howard Gorman Mrs Glllian Mary Holroyd Mrs Wendy Thorp@ Secretsry Treasurer Mrs Shirley Potter Reg]stered Offlce St Petels Vlcarage cricket Path Formby Llverpool Merseyside L37 7DP The charity is incorporated In England and Wales. Company RegTstratlon Number 09978248 Charlty ReOstratlon Number 1168392 Sollcltors Brabners Horton House Exchange Flags Llverpool L2 3YL Independent Examlner Mr john Martln Hughes Bsc FCA Herlot Hughes Chartered Accountsnts 42 Crosby Road North Crosby Mersey5ide L22, 4QQ Page I
St Peter's Formby Educational Trust 2015 Trustees, Report The trustees, who are dirertors for the purposes of company law. present the annual report together with the financial statements of the charltable company for the year ended 31 December 2024. Objectives and actlvltles Publlc beneflt The objectlves of the charlty which are undertaken for public benefft are: L To advance education by the provlslon of items, seNlces and faclllties for Trinity St Petevs Church of England {Aided) primary School, (the school). 2. To advance education by the provision of items, services and facllities for any school substantlally servlng Formby. 3. To advance the educatlon of persons in Formby who are in need of financlal asslstance and who are: l. persons who are attendlng Trlnlty St Peter's Church of England (Alded) Prfmary School, or 11. persons who have at anytlme attended the School or; iii. persons under the age of 25 4. The provlslon of facllltles In the Interest of social welfare for the recreation for persons under the age of 25 resldent in Formby who have need of such facilities by reason of thelr age wlth the object of Improvlng thelr conditions of Ilfe. The trustee5 conflrm that they have complled with the requirements of section 17 of the Charitles Act 2011 to have due regard to the public benefrt guidance publlshed by the Charity Commlsslon for England and Wales. Grant maklng pollcies Each year the trustees Invlte schools and other eiiglble groups In Formby to apply for grant asslstsnce to support any speclal projects that would otherwlse not be met from the Local Educatlon Authorlty. The trustees meet to consider the merits of each application 8nd make grants to such applicants as fulfll the trustees, crlterfa. Achievements and perfomiance The charfty was able to asslst Trlnlty St Peterfs and Woodlands Primary School In Formby, the Formby Scout Group and a local football team. Grants were also made to indlviduals golngto uganda with the team from St Peter's which ha5 Ilnks to St Peter's church and school in Kalule. Financial review The charlty's Income for the year amounted to £50,730 12023: £49,110) and expenditure amount to £27,525 {2023: £30,834). This increased the unrestricted fund by £23,205 {2023: £18,276). The balance on the unrestricted funds at the balance sheet date amounted to £164,28112023: £141,076}. The balance on the endowment fund at the balance sheet date amounted to £1,275,063 {2023' £L256,937). Page 2
St Peter's Formby Educational Trust 2015 Trustees, Report Pollcy on reserves The charity has reviewed its pollcy on reserves. The reserves pollcy is to ensure that the charty has sufficient funds in reserve to manage its operations smoothly during periods of unexpected fluctuations In income or increased expenditure. These reseNes wlll provide a buffer to enable the Charity to continue to meet Its charitable objectives wlthout compromising its finanGial stablllty. The charlty alms to maintsin re5eNes of between 3 to 6 months, worth of operating costs. Investment pollcy and objectlves The trustees have contlnued to malntsln the policy 8dopted in the old trust of 5nvestment In CBF Church of England Investment Fund. Thls fund Is speciflcally designed to generate long term capital and Income growth and Is Invested mainly In equltles with a wide diversificatlon of good quality holdlngs in both the UK and overseas. Funds are also invested In a Deposit Fund designed to provlde easy access If required for trust purposes. Structure, governance and management Nature of govemlng document The charlty Is a company Ilmlted by guarantee incorporated on 31 January 2016 and registered 88 8 charlty on 22 July 2016. The company was establlshed under a Memorandum of Association whlch estsblished the objects and powers of the charity and Is governed under Its Articles of Assoclatlon. The trustees, who are also the dlrectors for the purpose of the company law, and who served durlng the year end up to the date of signature of the flnanclal statements were: Rev Anne Taylor Mrs Sarah Ellzabeth Howard Gorman Mrs Gllllan Mary Holroyd M8Jor rlsks and management of those rlsks The trustees have accessed the major rlsks to whlch the charty is exposed, and are satlsfled that systems are in place to mltigate exposure to the major rlsks. Page 3
St Peter's Formby Educational Trust 2015 Trustees, Report Financial instruments Objeotlves and pollcles The charity's activities expose it to a number of financlal risks including credit risk, cash flow rSsk and liquidity rlsk. The use of financial derivatives is governed by the charlty's policies approved by the board of trustees, which provide written prlnclples on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Credit rfsk The charity's principal financial assets are bank balances, cash, and investments. The charlty has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Llquidity risk In order to maintsin liquidity to ensure that SLrfficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debtfinance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial ststements. Statement of Tntstees, Responsibilities The trustees (who are also the directors of St Peter's Formby Educational Trust 2015 for the purposes of company lawl are responsible for preparing the trustees, report and the financi81 statements in accordance with the Unrted Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a tnje and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparingthese financial statements. the trustees are required to: select suttable accounting policies and apply them consistently,. observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent" state whether applicable UK Accounting standards have been followed, subject to any materfal departures disclosed and explained in the financial statements. and prepare the financial st2tements on the going concern basis unless it is Inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial posttion of the charfcable company and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the preventlon and detection of fraud and other irregularities. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Page 4
St Peter's Formby Educational Trust 2015 Trustees, Report The annu81 report was approved bythe trustees of the charlty on 16 May 2025 and signed on its behalf by: Reve ndA Trustee Taylor Page 5
St Peter's Formby Educational Trust 2015 Independent Examiner's Report to the trustees of St Peter's Formby Educational Trust 2015 ('he Company") I report to the charity trustees on my examinatlon of the accounts of the Company for the year ended 31 December 2024. Responslbllltles and basis of report As the charity's trustees of the Company land also Its dlrectors for the purposes of company lawl you are responsible for the preparatlon of the accounts in accordance with the requirements of the Companles Act 20061'the 2006 Act,). Having satisfied Tnyself that the accounts of St Peter's Formby Educatlonal Trust 2015 are not requlred to be audlted under Part 16 of the 2006 Act and are eligible for Independent examlnatlon, I report In respect of my examSnatlon of your charity's accounts as carried out under section 145 of the Charltles Act 2011 I'the 2011 Act,). In carrylng out my examination I have followed the Directions given by the Chartty Commisslon under section 14515llb} of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attentlon In connection with the examlnatlon giving me causè to believe.. l. accountlng records were not kept in respect of St Peter's Formby Educational Trust 2015 as required by sectlon 386 of the 2006 Act; or 2. the accounts do not accord wlth those records,. or 3. the accounts do not comply wlth the accounting requirements of sectlon 396 of the 2006 Act other than any requirement that the 8ccounts give a 'true and falr vlew, whlch Is not 8 matter consldered as part of an Independent examination; or 4. the accounts have not been prepared In accordance with the methods and prlnclples of the Statement of Recommended Practice for accounting and reportlng by charitles lapplicable to charltles preparlng thelr accounts In accordance with the Flnanclal Reporting standard applicable In the UK and Republic of Ireland {FRS 10211. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn In this report In order to enable a proper understanding of the accounts to be reached. Mrjohn Hughg88 Heriot Hughes Chartered Accountants 42 Crosby Road North Crosby Merseyside L22 4QQ 16 May 2025 Page 6
St Peter's Formby Educational Trust 2015 Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income aiid Expenditure Account and Statement of Totsl Recognised Gains and Losses) Total 2024 Total 2023 Unrestrlcted Endowment Note Income and Endowments from. Charltable activities Investment income 13,175 13,175 37,555 13,619 Totsl Income Expenditure on: Charitsble actlvltles 27,525 Tota5 Expenditure Gains/(losses) on Investment assets 127,525) (27,525) (30,834) 18,126 68,644 Net Income Net movement In funds 23,205 18,126 41,331 86,920 Reconclliation of funds Total funds brought forward 141076 1256 937 1398 013 1311093 Total fund5 carried fotward 15 164 281 1,275,063 1439 344 1,398 013 Total 2023 Unrestrfctsd Endowment Note Income and Endowments from: Charftable activitles Investment income 13,619 13,619 35,491 Total Income Expenditure on: Charltable activitles Total Expenditure Galns/(lossesJ on Investment assets (30.834) {30.834) Net income 68,644 Net movement In funds 18,276 68,644 86,920 Reconcillatlon of funds Totsl funds brought forward 122,800 1,188,293 1311093 Total funds carrled fOard 15 141076 1256 937 1398,013 All of the charlvs actlvtties derive from contlnulng operatlons durlng the above two perlods. The funds breakdown for 2024 and 2023 are shown in note 15. The notes on pages 9 to 18 form an integral part of these financial ststements. Page 7
St Peter's Formby Educational Trust 2015 (Registration number: 09978248) Balance Sheet as at 31 D.ecember 2024 2024 2023 Note Fixed assets Investment properties Investments 10 li 465,000 810.063 465,000 791.937 1275,063 1.256.937 Current assets Debtors Cash at bank and in hand 322 170.345 315 145.324 13 170.667 145,639 Creditors: Amounts falling due within one year 14 6,3861 4,563 Net current assets 164.281 141,076 Net assets 1,439.344 1.398.013 Funds of the charity: Endowment 1.275.063 1,256,937 Unrestricted income funds Unrestricted 164.281 141,076 Totsl funds 15 1.439.344 1.398,013 For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relatingto small companies. Directors, responsibilities: The members have not required the charityto obtain an audlt of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying wtth the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 16 May 2025 and signed on their behalf by: Reverend Trustee Taylor The notes on pages 9 to 18 form an integral part of these financial statements. Page 8
St Peter's Formby Educational Trust 2015 Notes to the Flnancial Ststements for the Year Ended 31 December 2024 I Charity status 'The charity is limited by guarantee, Incorporated in England and Wales, and consequently does not have share capitsl. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charlty In the event of liquidation. The address of Its registered office is: St Peter's Vlcarage Cricket Path Formby Llverpool Merseyslde L37 7DP These flnanclal ststements were authorised for Issue by the trustees on 16 May 2025. 2 Accountlng pollcles Summary of signlflcant accounting policles and key accountlng estlmates The prlnclpal accountlng policies applied In the preparatlon of these flnancial ststements are set out below. These pollcSes have been consistently applied to all the years presented, unless otherwise stated. ststement of compliance The financial statements have been prepared In accordance wlth Accountlng and Reportlng by Charltles: ststement of Recommended Practlce (applicable to charities preparing their accounts In accordance with the Financlal Reporting Stsndard appllcable In the UK and Republlc of Ireland IFRS 1021} (issued In October 2019) - Icharltles SORP IFRS 102)}, the Financial Reportlng Stsndard appllcable In the UK and Republlc of Ireland IFRS 102) and the Companies Act 2006. Basls of preparatlon St Peter's Formby Educational Trust 2015 meets the definition of a public benefft entlty under FRS 102. Assets and li8bllltles are Inltlally recognised at hlstorlcal cost or transactlon value unless otherwlse ststed In the relevant accountlng pollcy notes. Going concern The trustees conslder that there are no materlal uncertalntles about the chartty's ability to continue as a golng concern nor any significant areas of uncertalnty that affect the carrying value of assets held by the charlty. Fxemption from preparlng a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Page 9
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 Income and endowments Income is recognised when the charlty Is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably. and It15 probable that income will be received. Donations are recognised on recelpt. Other donations are recognised once the charlty has been notified of the donatSon, unless performan¢e condltlons require deferral of the amount. Income tax recoverable In relatlon to donat5ons received under Gitt Ald or deeds of covenant is recognised at the time of the donatlon. Income from Investments, Includlng Interest recelved, Is Included when recelvable, Income from the endowment Is credlted to the unrestricted fund. Assets given for use bythe charlty are recogn158d when receiwdble as donation& Investment Income Dividends are recognised once the dlvldend has been declared and notlflcatlon has been recelved of the dlvldend due. Charltable funds Unrestrlcted funds are 8vallable for use at the discretion of the trustees In furtherance of thelr charltsble obJectSves unless the funds have been designated for other purposes. Endowment funds exlst where there is a capital fund with no power to convert the capltal Into Income. The. freehold 18nd and bulldlngs included in tangible fixed assets and in Investment propertles are hlstorlc, Inallenable and form part of a permanent.endowment whlch means that they cannot be sold but must be held In perpetulty. Expendlture All expenditure is recognised once there Is a legal or constructlve obligation to that expendlture, It Is probable settlement is required 8nd the amount can be measured reliably. All costs are allocated to.the applicable expendlture headlng that aggregate simllar costs to that category. Where costs cannot be dlrectly attributed to particular headings they have been allocated on a basis conslstent wlth the use of resources, wlth central staff costs allocated on the basls of tlme spent, and depreciation charges allocated on the portlon of the asset's use. Other support costs are allocated based on the spread of staff costs. Taxatlon The charity ts consldered to pass the tests set out in Paragraph I Schedule 6 of the Flnance Act 2010 and therefore It meets the definition of a charitable company for UK corporatlon tax purposes. Accordingly, the charlty is potsntially exempt from taxatlon In respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxatlon of Chargeable Gains Act 1992, to the extent that such Income or gain5 are applied exclusively to charltsble purposes. Page 10
St Peterfs Formby Educational Trust 2015 Notes to the Financial Ststements for the Year Ended 31 December 2024 Investrnent properties Investment property comprlses the School Cottage, 15"Paradlse Lane and St Petevs Parish Hall. The fair value of the investment propety has been arrived at on the basis of a valuatlon carrled out on 28 February 2022 by Ewe Move Sales and Lettlngs and 23 December 2021 by The Wallis Company Chartered Surveyors. The valuation was made on an open market value basi5 for similar. properties. The trustees belleve that thls valuatlon represents the current falr value of the propertles at the balance sheet date. Investment propety donated to the charity has been measured Inltlally at falr value based on a prevlous valuation. Subsequently It Is measured at falr value at the reporting end d8te. The surplus or deficlt on revaluation is recognised in ststement of financial actlvltles. Fixed asset Investments Fixed asset investments, other than programme related investments, are included at market value at the balance Sheet date. Reallsed galns and losses on investments are calculated a5 the dlfference between sales proceeds and their market value atthe start of the year, or their subsequent cost, and are charged or credfied to the Ststement of Flnanclal Actlvltles In the period of dlspos81. Unreallsed galn5 and losses represent the movement In market values durlng the year and 8re credlted or charged to the Ststement of Flnancial Activities based on the market value at the year end. Cash and cash equlvalents Cash'and cash equivalents compr15e cash on hand and call deposlts, and other short-term highly Ilquld Investments that are readlly convertlble to a known amount of cash and are subject to an insignlflcant rlsk of change in value. Flnanc]al Instruments Flnancial assets and financial liabilitles are recognlsed when the charity becomes a party to the contractual provisions of the instrument. Flnancial liablllties and equity instruments are classified accordlng to the substsnce of the contractual arrangements entered Into. An equtty instrument Is any contract that evidences a residual interest in the assets of the charlty after deductlng all of its Ilabllltles. Page 11
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 Baslc flnanclal assets All financlal assets and liabilities are initially measured at transactlon price Ilncluding transaction costs). except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction pri excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financlal asset orfinancial liability Is measured at the present value of the future payments dlscounted at a market rate of interest for a slmllar debt instrument. Flnancial assets and Ilabillties are only offset in the statement of flnanoial p<)sition when, and only when there exlsts a legally enforceable right to set off the recognised amounts and the charity intends elther to settle on a net basls, orto realise the asset and settle the liabillty slmultsneously. Flnanclal assets are derecognised when and only when al the contractual rights to the cash flows from the financial asset explre or are settled. bl the charlty transfers to another party Substantially all of the risks and rewards of ownership of the flnanclal asset. or c) the charity, despite havlng retained some, but not all, significant rlsks and rewards of ownership, has transferred control of the asset to another party. Financial Ilabilities are derecognlsed only when the obiigatlon specified In the contract Is discharged, cancelled or explres. Baslo flnanclal Ilabllltles Baslc financial liabilities, includlng credltors and bank loans are initially recognlsed at trans8Ctlon prSce unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments dlscounted at a market rate of InteresL Financl81 Ilabilities classified as payable withln one year are not amortlsed. Debt Instruments are subsequently carried at amortlsed cosL uslng the effective interest rate method. Trade creditors are obligations to pay for goods or servlces that have been acqulred in the ordlnary course of operatlons from suppllers. Amounts payable are classlfled as current Ilabllltles If payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognlsed initlally at transaction price and subsequently measured at amortised cost using the effectlve interest method. De-recognltlon of flnanclal Ilablllties Financial Ilabllltles are dere¢ognised when the charlty's contractual obligations explre or are discharged or cancelled. Page 12
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from charitsble activities Unrestrlcted funds General Total 2024 Church Hall lettlngs and Il¢ence fee 13,175 13,175 Unrestricted funds General Totsl 2023 Church Hall lettings and licence fee 13,619 13,619 4 Investment income Unrestricted funds General Total funds Interest receivable and slmilar income; Interest recelvable on bank deposits Other Income from fixed asset investments Income from rents 3,572 21,983 12,000 3,572 21,983 Totsl for 2024 37,555 37,555 Total for 2023 35,491 5 Expenditure on charltable activltles Unrestrlcted funds General Total funds Premises Costs Grant funding of activities Governance costs 18,019 7,749 18.019 1 7,749 Totsl for 2024 27,525 27,525 Totsl for 2023 30.834 Page 13
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 6 Analysts of governance and support costs Governan costs Unrestricted Total 2024 Total 2023 General Independent examination fees Examinatlon of the flnanclal statements Legal fees Other governance costs 1,270 426 61 1,270 426 61 1,210 72 90 1,757 7 Grant-maklng Analysis of grants Grants to Instltutions 2024 2023 Grants to Individuals 2024 2023 Analysis Woodlands Primary School 9th Formby Scout Group Sefton MBC-TSP Music TSP Music grant St Peter's little fishes group uganda trip Trinity St Peterfs Primary School Indlvldual grants 1st Fomiby Brownies Juniorfootball team 5th Formby Scouts Group 1,900 1,213 900 3.537 4,902 141 120 3,089 1.040 990 700 680 300 300 600 11,983 700 680 8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have recelved any remuneration from the charity during the year. 9 Staff costs There were no employees during the year {2023 . none). Page 14
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 10 Investment property Investment property Total Fair value At lJanuary 2024 465,000 465,000 At 31 December 2024 465.000 465.000 Carrying amount At 31 December 2024 465,000 465,000 At 31 December2023 465,000 465.000 Page 15
St Peter's Formby Educational Trust 2015 Notes to the Financial Ststements for the Year Ended 31 December 2024 11 Fixed asset investments Listed investments Listed investments Total Cost or Valuation At lJanuary 2024 Revaluation of investments 791.937 18.126 791.937 18.126 At 31 December 2024 810.063 810.063 Carrying amount At 31 December 2024 810,063 810,063 At l January 2023 791,937 791,937 12 Debtors 2024 2023 Prepayments 322 315 13 Cash and cash equivalents 2024 2023 Cash at bank 170.345 145.324 14 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals 5,116 4.563 6,386 4,563 Page 16
St Peter's Formby Educational .Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 15 Funds Balance at 31 December 2024 Balance at lJanuary 2024 Other Resources recognised expended galns/(losses) Incomlng resources Unrestrictsd funds General. 141,07_6 50,730 {27,525} 164,281 Endowment funds Permanent 1256 937 1275 063 Totsl funds .1398 013 50 730 18,126 1.439 344 Balance at 31 Decembar 2023 Balance at l January 2023 Other Resources recognlsed expended galns/(losses) Incoming resources Unrestrictsd funds General 122,800 49,110 (30.834} 141.076 Endowment funds Permanent 1188 293 1,256 937 Totsl funds 1,311093 49 110 1,398 013 16 Analysls of net assets between funds Unrestricted funds General Endowment funds Permanent Total funds at 31 December 2024 Herttage assets Flxed asset Investments Current assets Current liabilltles 465,000 810,063 465,000 810,063 170,667 6,386 170,667 Totsl net assets 164,281 1275 063 1439,344 Page 17
St Peter's Formby Educational Trust 2015 Notes to the Financial Statements for the Year Ended 31 December 2024 Unrestricted funds General Endowment funds Permanent Totsl funds at 31 December 2023 Heritage assets Fixed asset investments Current assets Current liabilities 465,000 791,937 465,000 . 791,937 145,639 4,563 145,639 Total net assets 141076 1256 937 1398 013 17 Related party transactlons .There were no related party transactlons In the year. The trustees are also the key management of the charlty. Page 18