The Mount School York Foundation
Trustees’ report
Period ending 31 August2023
The Trustees present their report and financial statements for the year ending 31stAugust 2023. 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 £4,721during the accounting period, both for general funds and for Bursaries (the Lucy Harrison Fund).This included donations of £2,980 towards the school’s Ukrainian students.
Trustees approved grants of £3,813 from the Lydia Rous and Lucy Harrison Funds towards prizes and bursaries for the 2022 and 2023 academic years. A further £27,000 was paid for bursaries for Ukrainian students who have been taken on by the school having been displaced by Russia’s invasion of Ukraine in February 2022.Trustees have committed to paying a similar sum next year. In addition, £1,000 was paid to two old scholars of the school to support them in pursuing further education opportunities. A grant of £25,000 has been paid towards the costs of the Foundation office, utilising funds from Lady Isabel Barnett’s generous legacy received in 2022. The Foundation has committed to a further 2 years of funding from this legacy. A further grant of £3,018 was made for the running costs of MOSAFriends, the 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 £162,979 at the year-end (a net loss of £3,709 on the previous year end) and produced an income of £4,332 during the year. Trustees have been in discussion with investment managers Brewin Dolphin about recent performance, and have been reviewing the investment mandate and strategy.
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.
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 Lady Isabel Barnett legacy which the Trustees have designated for funding of the Foundation office, this has increased to £4,607 in the year, getting closer to the Reserves policy desired level of £5000.
In the year, the Foundation received a donation from the Reckitt Trust of £25,000. This regular annual donation normally is sent directly to the school, and the Trustees approved that it should be granted to the School.
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.
Both Nicola Spence and Jacqueline Taylor stepped down as Trustees in October 2022 and were replaced by Era Gjurgjeala and Claire Phillips. Joan Concannon stepped down on 23 May 2023 and was replaced by Catherine Birch. Vanessa Charters was appointed a Trustee in October 2022 and sadly left her position at the school in December 2023 when she also resigned as Trustee.
We would like to thank Vanessa, Joan, Nicola and Jacqueline for their contributions as Trustees to the Foundation.
In 2023, our income was above £25,000 and, in accordance with Charity Commission guidance, the Trustees reappointed Michael Sturge FCA as Independent Examiner. 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 principle address c/o The Mount School, Dalton Terrace, York YO24 4DD
Trustees
| Trustees | |
|---|---|
| Margaret Bryan | Ex-ofcio appointee |
| Catherine Olivia Birch | Appointed by MSA (wef 23/5/23) |
| Vanessa Charters | Ex ofcio appointee (wef 11/10/22 and resigned 15/12/23) |
| Joan Concannon | Appointed by MSA (resigned 23/5/23) |
| David Elwyn Grifths | Ex ofcio appointee |
| Era Gjurgjeala | Appointed by old scholars (wef 11/10/22) |
| Aileen McLeish | Appointed by Foundation Trustees |
| Claire Phillips | Appointed by old scholars (wef 11/10/22) |
| 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 2024
(HAITY (OMMISSIO IbALE Rècei ts and payments accounts CC16a To 01 31.?) Sectson A Receipts and payments Totsl fi¥K tOlal(Grtw for ARJ 31791 •4 &011 s¢0 10 t•lA• 28.810 51, A6 TrnrAler¥ betwn furKIs ,025 114J70 $1 CCXX R1 W£nl&s)
Se¢lion B Ststement of assets and liabilities at the end of the period Unrnstdet•d fund• RMtri¢t¢d lunds EThJowmtrt fvnds rwlÉ 51mJ 11010 Sl.090 12.010 cws) lund• fund• Detail• Oet•ll8 84 A•••ts r•taln•d for th• ch•rfty'• own Detai15 B6 Uthltth• b01 all thÈtrwi•p Pml N• CCXX P2arKthbnts ISSI 11.lJm4
Independent examiner's report to the trustees of The Mount School York Foundatlon Icharity No. 11711161 I report on the accoLJnls of The. Mount School York Foundation for the year ended 31 August 2023, which are sel out oli pages 110 2. Responsibilities and basis of report As the charity's Iruslees, you are responsible for the preparation of the 2ccounts in accordance with the requirements of the Charities Act 2011 (the 2011 Acll. I report iii respect of my examination of the Trust's accounts Carried out under section 145 of the 2011 Act and in carrying OLIt my ex2mination, I have followed the applicable Directions giveii by the Charity Commission under section 145(5llbl of the Act. Independent examiner's statement I have complvted my examination. I confirm that no material matters have come lo my attention in connection with the examination which gives me cause to believe that, in any material respect.. The accounting records were not kept in accordance with section 130 of the Charities Act., or The accounts did not accord with the accounting records". or The accounts did not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Chaiities (Accounts and Reports) Regulations 2008 other than any reqLiiremenl that the accounts give a'true and fairf view which Is not a matter considered as part of an independent examination. I have no concerns and have come across no matters in connection with the exaniinab'on lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be re.ac,hed. 20 Febrkn'ary 2024 Michae5 W Slurge FCA 23 Llicombe Way, York Y032 4DS