## **The Mount School York Foundation** ## **Trustees’ report** ## **Period ending 31 August 2022** The Trustees present their report and financial statements for the year ending 31st August 2022. The Trustees confirm that the report and the statement of receipts and payments of the charity comply with the current statutory requirements and the requirements of the charity’s governing document. ## **Objectives and Activities** The Foundation was registered with the Charity Commission on 13 January 2017. Its object is to advance education in accordance with the Religious Society of Friends (Quakers) in such ways as the charity Trustees think fit and in particular to advance the education of past, present and future pupils of The Mount School York (the school) The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit. ## **Achievements and Performance** The Trustees were grateful to receive donations totalling £90,499 during the accounting period, both for general funds and for Bursaries (the Lucy Harrison Fund). The biggest donation was £72,543, a generous legacy from the estate of Lady Isobel Barnett which the Trustees have agreed to use to help fund the first three years of the new Foundation office at the school. Trustees paid grants of £3,860 from the Lydia Rous and Lucy Harrison Fund towards prizes and bursaries for the 2021 and 2022 academic year. In addition £1,500 was paid to three old scholars of the school to support them in pursuing further education opportunities. A grant of £5,000 has been paid towards the new adventure playground at the school and a further grant of £4,896 for the set up and first year running costs of _MOSAFriends_ a new Customer Relationship Management (CRM) website which supports engagement with the school’s old scholar community. ## **Financial Review** The total invested with Brewin Dolphin was valued at £166,688 at the year-end (a net loss of £22,700 on the previous year end) and produced an income of £3,542 during the year. This year‘s grants include a settlement of previous years’ pledges and have been funded by reserves, donations and investment income. Other costs were bank charges and the registration fee with the Information Commissioner’s Office. The only other costs being regularly incurred are the charges from the Investment Manager which are deducted from the investments. The Trustees agreed to underwrite £54k for bursaries for three Ukrainian refugees who started in school in September 2022. In the meantime an appeal has been made within the school community for donations and £5,750 was received by the end of August 2022. The Foundation’s contribution, if required, will come from restricted funds set aside for bursaries. A reserve of unrestricted funds is being developed supported by donations, which in the Trustees’ view should be adequate to meet one off costs. Excluding the £75,000 which the Trustees have designated for funding of the new Foundation office, this has reduced to £3,445 which will need to be rebuilt in future years to reach the policy level of £5000. ## **Structure Governance and Management** The Foundation is a Community Interest Organisation Trustees are a combination of ex officio appointees from The Mount School York, being the Principal, the Chief Financial Officer or equivalent, the Clerk and the Deputy Clerk of School Committee, two Trustees nominated by old scholars of the school, and one Trustee who is nominated by the Mount School Association (MSA). The Trustees of the Foundation can nominate additional Trustees who bring complementary skills for the benefit of the Foundation. Aileen McLeish was reappointed by Trustees for a second term with effect from December 2021. Adrienne Richmond stepped down as Trustee in December 2021 when she retired as Principal of the school. Her successor as Principal, David Griffiths, was appointed as a Trustee in January 2022. Nick Higgins also retired from the school and stepped down as a Trustee in July 2022. Both Nicola Spence and Jacqueline Taylor stepped down as Trustees in October 2022 and were replaced by Era Gjurgjeala and Claire Phillips We would like to thank Adrienne, Nick, Nicola and Jacqueline for their contributions as Trustees to the Foundation. In 2022, our income was above £25,000 and, in accordance with Charity Commission guidance, the Trustees appointed a new Independent Examiner Michael Sturge FCA. The Trustees are grateful to Michael for volunteering to do this role. Day to day accounting is handled by the school and the Trustees take responsibility for the Annual Report and Accounts. The Trustees would like to thank The Mount School York for providing administrative services and support to the Foundation. ## **Reference and Administrative details** The Mount School York Foundation Registered Charity Number: 1171116 Charity’s Principal address c/o The Mount School, Dalton Terrace, York YO24 4DD ## **Trustees** |**Trustees**|| |---|---| |Margaret Bryan|Ex-ofcio appointee| |Vanessa Charters|Ex ofcio appointee (wef 11/10/22)| |Joan Concannon|Appointed by MSA| |David Elwyn Grifths|Ex ofcio appointee (wef 1/1/22)| |Era Gjurgjeala|Appointed by old scholars (wef 11/10/22)| |Nick Higgins|Ex ofcio appointee (until 31/7/22)| |Aileen McLeish|Appointed by Foundation Trustees| |Claire Phillips|Appointed by old scholars (wef 11/10/22)| |Adrienne Richmond|Ex-ofcio appointee (until 31/12/21)| |Nicola Spence|Appointed by old scholars (until 11/10/22)| |Jacqueline Kenmir Taylor|Appointed by old scholars (until 11/10/22)| ## **Other** Bank: HSBC Bank Plc, 13 Parliament Street, York YO1 8XS Legal Advisor: Bircham Dyson Bell, 50 Broadway, London SW1H 0BL Investment Manager: Brewin Dolphin Ltd, 10 Wellington Place, Leeds LS1 4AN ## Trustees May 2023 CHARITY COMMISSION FOR ENGLAND AND WALES The Mount School York Foundation 1171116 Receipts and payments accounts CC16a For thÈ period from 01-S& -21 31Au9-22 Section A Receipts and payments Unrostricted funds toth8 nearest Restricted fund$ Endowm6nt fvnds Total funds Last year tothè nearest E to thp nearest£ lo thè ngarest£ to the t)eèrest£ A1 Receipt$ Dtsn3lions Iilyeslmenl Incomfj GIrt￿d receipls 73.143 17,356 3.542 90,499 2,142 3,4116 303 30B 308 Sub total(Gross income for AR) 73.451 20,E98 94,349 5,851 A2 Asset and investment sales, lsee table). Sub total Total receipts 73,451 20,898 94,349 5.851 A3Pa ments Grants lo Th& Mount SchoDIYork for busaiie5 and Awards Furthèr Edwaiion Fund granis GTrnt 10 ￿￿￿t Sthool Yotk lor CRM system Other Grani lo Mounl Scmol Yod(lornew Acfveniure Pl3yground 3,96D 1,SllO 3.96 1,500 1.238 4,896 4,B96 89 40 S,WD s,ooD Sub totsl 89 1S,35B 15.445 1.276 A4 Asset and Investment urchases. 15ee tablel Brewln Dolphln dlscretlonary mandate- Income and capltsl growth Sub total Totalpaymonts 69 15,356 15.445 1,276 Net of rè¢eipts/{payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end 73,362 5,542 78,904 4,575 5.083 78,445 30,483 36,025 35,566 114.470 30,991 35,566 CCXX R18ccounts Issi 1610512023 Section B Statement of assets and liabilities at the end of the period Unre5tri¢ted funds to n•arg$1 £ 78.445 Restricted funds to nearo¥t£ Endowment fund$ to nearoYt£ CatogoTi95 Details 81 Cash funds Cash al B?nk 36,025 Total cash funds 78,445 36,025 Iw•vblance5vrilh receiptsar￿ peswLs 4¢wntlsll Unrestrlcted fund5 to Degr8s1 £ RestriGted funds to n8?r*St£ Endowment funds Details to neart5t£ Fund to whlch assot Rfj5trlcled Funds CuTr8nt valu• Cost lopuonall 162,779 Details |Dve&knenl 186,688 Fund to whith ulo Current value tloftal C05t lonal B4 Assets rètalned for the charity's own use Fund to whlch ovnt due Ilona 54,000 When dug lonal 2022-2024 Details eursaD@a approved Fu￿1￿9 of FoundabDn Otfice 4pproved BS Liablllties UnrostrKted lunds 75,0 2D22-20Z5 Signed by ona or t¥￿ iru51egs on behalf of all the trustee5 Slgnature Print Name Date of roval zs/ 161Q512023 CCXX R2 accounts ISSI ## ## ##