The Clitheroe Royal Grammar School Foundation Charftable Incorporated Organlsatlon Annual Report and Flnanclal Statements Year ended 31 August 2020 Charity Rrystrknon Prnber. 1174177
Cllth•roa Royal Grammar School Foundatlon Refrtt and Admlnknallve DetslL8 Tr, RepTht 1. Struthire, GoveThpnce WKI 1.1 CongtitLrtK)n 1.2 Tntstees 1.4 Conn8(ed Ckg8nwat¥J) 2. Publk 8enefft 3. Fkn8nd81 revl 3.1 Nature of ts Found8tion'8 A88ets 3.2 Inve8trnent Polw & Perfom 3.3 Re8er4s Polky 3.4 Id8nttfKbn of ma)r Rtsks 5. AchiBYements Performan 5.1 PayThS to CNthero8 R1 Grrnar Sct#I 5.2 PaylyS to stlents &KJ Parents 6. Future P18n8 7. Truslee8 ResFxThlblltw kn relatKJn to the FInan Ststts Independent EnineTr, Report Statsment of Fknanryal BalarKe Sheet 10 11-16 Detailed Slatsm8nt ol FinancAI Pdivils 17-18
Reference and Administrative Details
| Trustees | Dr A D Clayton* - Chairman(Appointed Trustee) |
|---|---|
| Mr J Evans*(Appointed Trustee w.e.f 23.02.2021) | |
| Mrs J S Hart*(Appointed Trustee) | |
| Mr W D Honeywell* – Chairman of Finance(Appointed Trustee) | |
| Mr S G Isherwood*(Appointed Trustee) | |
| Mr A Rogers*(Appointed Trustee w.e.f 23.02.2021) | |
| Mr J S Sutton*(Appointed Trustee) | |
| Mr I Ali_(CRGS Parent Governors Nominated Trustee)_ | |
| Coun S Atkinson -(RVBC Nominated Trustee – Term ended 07.08.2020) | |
| (*Members of Finance Committee) | |
| Address for correspondence | Clitheroe Royal Grammar School Foundation |
| York Street | |
| Clitheroe | |
| Lancashire | |
| BB7 2DJ | |
| Charity Number | 1174177 |
| Independent Examiner | Mrs A M Smith |
| Bennett Kirkhope Smith Ltd | |
| Suites 5 & 6 The Printworks | |
| Hey Road | |
| Barrow | |
| Clitheroe | |
| Lancashire | |
| BB7 9WB | |
| Bankers | Santander UK plc |
| Business Banking | |
| Bridle Road | |
| Bootle | |
| L30 4GB | |
| Investment Advisers | J M Finn & Co |
| 4 Coleman Street | |
| London | |
| EC2R 5TA | |
| Solicitors | Forbes |
| Rutherford House | |
| 4 Wellington Street (St John’s) | |
| Blackburn | |
| BB1 8DD |
Page 1
Trustse8' Report The Trustees wesent their annual report together with the financial statements and examins' rew)rt of the Foundation for the y8ar ended 31 Augusl 2020. 1. Structur• Gov•mance and Managam•nt 1.1. ConstllutlX: The c11tr0e Royal Granmar School Foundat IS 8 Charitable Incorporated 0rgna1san. registered chafity. No. 1174177 IEr#Jland and Wales) The Found8tr>n is govemed by. The Constttthn of tho Clitheroe Royal Grammar sd01 Foundatlon. approved by the Charity Commisslon on 8 August 2017 12. Trust•. The Foundatlon's Constitutk)n ststes that there 8h8R b8 fK) I88S than five and no more than ekjhl Appointed Trustees tO3ether wth two Nomlnated Twstees. One of the Nominated Trustee8 IS to be nominateit by th8 Parent Govemors of Clllheroe Royal Grammar School and the other by the Rlbble Valley Borough COU1. As of the date of this rewrt. Board of Trustees is made up of Seven App)Inled Trustees arKJ one Nominated TnJslee8. Detsils of the Trustées of the FourKlatbn serrfed throughout the year and up to the date of this report. except a8 notod. are included in the Reference and Admlnb8lratlve Detalls on Page 1. None of the Tru8tee8 Ilsted on Page 1 recew remuneratK)n ol any 8xpens88 for th8 tlme $pent on 8f181rs of the Fovndatlon. 1.3. Gov•manc•: The Twstees have resofved to meet al least three Ilmes each yèar. The purpose of these meetiros is to recerve reFKJrts'. to oversee. recommend and approve the payment of grants.. and also, to receive and approve the FourKI8tM)n's accounts and reports detailing the current financwl FK>silion of the Foundation. It Is the reswnsiLMIty of the FoundatKJn's finance committee, meeting as and Ython rgquired arKI reportlng to the Tnjstges. to review in detsil the Foundation'$ ir)ve5tment p8rfcffiiavKe in the light of appropriate professional advice. During th8 year Ihe Trustees met on 23 September 2019. 19 November 2019, 25 February 2020. 12 May 2020 and 26 June 2020. 1.4. Connfjct OrganI&On and Rolatsd Party R•lallonshlps: The School of Chaiity is Clltheroe Royal Grammar School, a selectlve 11 to 16 grdrrffiar schwl with an open access sixth fomi. Clitheroe Royal Grammar School has academy status and. as such. is a company limited by glrantee (No. 07461173) and an exempt charty. The principal acllvlty of Clitheroe Royal Grammar School is to provide a quallty. free educatK>n for yourvJ peopl6, aged 1110 19. vtho Irve in the area local to the sch1. Page 2
The trustees of the Clitheroe Royal Grammar S¢JKx>I Foundatlon hold on trust funds and tnv8Stments that represent the rrent value of donations and endov•Ynents that have twn made over the years sinc8 th6 foundiTrJ of the Sthool. and in partlcular Ils oTkJlnal end¢)bwnenl, whKh vras granted on 29 August 1554 by Letters Patent of Queen Mary. These funds Kfre hekl on trust under the tenns of a Board of EdL10n Scheme of 1906 until the eceSS0r of the Thent CIO, an unin(XfP)rated trusi of the sarne nam8. came Into being in 1966, While the School 8nd its Foundation both exist to further the education of the students at Clitheroe Royal Grammar, the separate tharities do this In dlstlndly differènt ways. Importanty, the Govemcffs Clitheroe Royal Grammar School have influ8nc8 whatsoever in the deciskms made by tho Trustees of the Clitheroe Royal Grammar School Foundation. Equally the Trustees of the Foundation have no influerKe in tha op8ration of the School itseff, and in particular over tho cufficulum taught. Under the Articles of Associakn'on of Clitheroe Royal Grammar Schwl. th8 trustees of the Clitheroe Royal Grammar School FOundan have the rvaht to appolnt up to fve F¢)undation Govemors to the GovemirvJ Body of the School. 2. Publlc B•n•fft". Th8 Found8tlon h8s cmled with the duty (Set out In $tn 4 of the Charlt18s Act 2011) to have due regard to public benefft guidance published by the Charity Commlsslon. Th9 Foundation 8StS to 8UPPQrt the educalional )rk of Clilheroe Royal Gr8rnmar School by lulfflling the following obiacts: 1. Provlding for the School such spedal beneflts of ary klnd not nomialty provkjed by govemmental or other fvnds Of kyovidod as part of the nomal runnlng cosls of the School as may from time to time be agreed between th8 School'8 Govemiig Body and the charity trustees 2. OtheDhlse promoting the 8ducatk)n {includlng sla1 and physkal training) of persons o are pupils of the School, or former puplls under the age of 25 y08r8, who are In need of finandal assistance. In the event that the Scl¥y)l is discontinued, and Ihg atve can therefore no longer b8 achieved. then the obj'ect of the charity shall be to promote the eduCatn of person3 uler the age of 25 yeats who are re8klent in the Ribble Valley Borough Coundl dlstrlct arMI In need of flnanclal assistsncé. 3. Flnan¢lal R•vl•w: 3.1. Nature of the Foundatlon's As•¢ts The greater majortty (rrerrt1Y 94.2%) of the Foundalion's in¥ested assets make up th8 Permanenl En¢)wment of Clitheroe Royal Grammar School. The nature of this endowmen( whh was originalty set up in 1554 lo be aTrJ to last foreverf, means that the current Trustèes. in common with tPir predecessoTr over the past 466 years, have no powers to sFend any of these fvnds withCt an Order of the Charity Commission. DistKJsal of any pemianent endowment assets can only be done in order to increase the value of the endowment through the 8ubwuent rtrlnvestment of the funds raised. The Truslees do, hovVer, have a statutory duty to apply the net inrAJme derlved from th8 pemianent endowment solely in accordance wtth the otleds of the charity: as defined in Secbon 2 aLre. Page 3
3.2. Invoslmont Pollcy and PerfornMnc•: The majorfty of the F4wndation'$ funds 15 investthl in a p)rift)lio of quoted securities manwJed on a discretionary basis by the FouThJation's investment advisers, J M Finn & Co.. and monitored by th6 members of the Foundation's Finance Committee. The investment policy Is lo achieve a r8asonabl8 rate of retum in the context of an acceptable sk from a diverse portlolio. whilst maintainiry or Increasing the value of the invested funds in real temis. The CovMI-19 p3nd8mic Lffifortunatsty had a slgnifThnt negative effect uwn the v81ue of the Foundation's investrnt portfolio. The value of this rKfyrtfolio. at 31 August 2020 wa8. £4.886M. This represents an 4.4% decrease in value as compar8d to that at 31 August 2019 {£5.112M). It Is hoped that as Ihe TId retums l018vels of econorn activity approaching pre-pandemlc levels th8 value of the Investment portfolio ¥ill reWr also. Income recelved from the Inveslmerrt portfolx) In the year endod 31 August 2020 was £147,396. compared to £153,212 for the prevlous year. a d9cr8a88 of 3.9%. Th8 gr088 Income from the farm bu8in8S8 tenancy and grnlng Ikn8e for pasture L8nd at Highmoor Fami. amounted to £7.215 In Ihe yeer ended 31 August 2020. Net r8nlal from 2 Highmoor Park was £3,957. 3.3. R•s•r• Poll¢y. The Trustees recognlse that a slgnwlcant amount of thelr expendtture takes place in the flr8t couple of months of the Foundation's financial year (i.e. the academic yearl To account for this It is the pollcy of the Trustees to maintain year-end totsl balances in the Foundation's bank accounts at a level that is b81en hair and one yearfs annual expenditure taken as an 8verage of the previous three years. It is constsjered that this provldes sufflcient funds to cover management. 8dministr8tive and 8UPPOrt CO8ts a8 WBII 88 belng able to respond to applications for grants a8 and when they arfs8. AS 0131 August 2020. some funds in excess of this {approx. £180k> Ere b8ing held in a 88parate dep)sit account. The Trustees ware asked by the Govemors of the School to hold this money as designated fuTrJs towards 8 wolect to w)vide essential extra dining arKI 80cial 8pac8 at the Maln School 8lle In Chatbum Road. Thi8 woiect started in August 2020 and Is expected to be completed in the Lqte spring of 2021. Following whth It Is expected that the88 funds will be transferyed lo the School. 3.4. Id•ntlfl¢•tlon of Major Rlsks: The Trustees consider the variabilty of Investment returns on the Foundation's funds to constitute the charty'8 major rtsk. The Trustees have re6Frf)nded to thls perceived risk by tski appropriate professional ad¥ice and by diveT8ifying th8 Foundation's investments in accordance with such a(fvice. 4. ObJ•ctlv•s and Actlvltkns: The aims arKI otty'ectives of the Clith8ro8 Royal Grammar School Foundat are to advance the education of its benefi¢iaries. nan the siud8nts and fomer stLhlents of Clltheroe Royal Grammar Sthool. The charty seeks to meet its 0ts¥e$ by m8kiTrJ grants lo the School (th8 academy trust) and to current arKI recent students. Page 4
In the longer tenn th8 thrtty aims to fuMlI rts oblKJalKms to its b8neficiaries by maintsining and increasing the value of the Schoofs endowment. as far a8 possible, for the ten8ffl of future generations of Clltheroe Royal Grammar s()01 students. 5. Achl•v•mont3 and Porft>rnianc•: 5.1. Paymonts to Clitheroe Royal Grammar Sehc The Trustees made dc¥tM)ns to the School in the 201912020 academlc year of £35,800. In resped of IT equipment. Commemoration Day. Sctrthl Prize5, J M Windsor SkK)rts Bursary and the Foundation MUS Bursary. An additional £91,071 vtss donated to complete the first phase of a proje(a to essenllal exlra dining and social space at the Main School site in Chatirn Road. and a further £32,072 was nated to cover the architect's and ongins fees etc. for the 88cond phase of this wo 5.2. Paym•nts lo Stud•nts and Par¢nts FOundatn Grants were awarded to the parents of 11 maln 8chool students to assist with the necessary expenses associated wrth thwse students. education during the 201912020 ac8dern year. A further 18 Foundation Grants were awarded in restect of thè 202012021 ac4demK y8ar. All of these grants were subj'ect to a means test sel by the Trustees. Total grant éxpendlture from 1 September 2019 to 31 Augu8t 2020 was £16.150. The Trusl8es awarded sGhdarshlps to 37 fomer Year 13 sludents In récognition of tholr outstanding success In their A Level examinatlons. Total exndituTe on the8• 8cholarshlps in the year ended 31 August 2020 byas £10,150. Three temily paym8nt8 of £500 ere made in respect of the Sanderson Bursary in the 201912020 academic year to current reclpK?nt,' a fomer CRGS student vtho took up unlversity place ¥12018. In September 2019 further Thomas and Myra Ryan Scaence Awards (total value: £3,0001 were made to thTee former Year 13 students in recognition of I1r succ8ss In the physical sciences whllsl at Clllheroe Royal Grammar School. These avrdrds were Set up in 2017 by yra Ryan. th8 wodow of a NASA aStrothysl8t. to be gfven to students from Clltheroe Royal Grammar Schwl 0. Have a passion l(¥ th8 physical sclences, the 8bilty to succeed in this and have the "ryht 8ttitude-. Fleld o)urse 8gslstsrte. fonnerfy provided by the predecessor Foundalk)n. Is currently being provided by School using Trsidual Sixth Fonn bursary luNJs where possible. The Trustees have. hover, resofvgd to underwrite the annual cost of provlding field course assistance in the eventuality that the School's bursary funding proves lo be inadequate. In the year ended 31 August 2020 the School did t negj to call upon this underwritlng funding from ts Foundatlon. Futurn Plans: During the 201912020 academlc year, thè Trustees thed a Ial fimi of plannirvJ consullants and commerclal PrOrtY agents {sp8cialisiTrg In residential land) to obtain plannlng consent and subsequentty m8rkel 13 acres of the land at Highmoor Fann. This area of land was included in the Ribble ValY Borough Councls (RVBC) list of preferrwj sties for new housing develowient in Jufy 2018. a li811rg subsequenty confirmed by Government's Planning Inspectorata eady in 2019. Followlng negoatn arKI subsequent 4reemenl *tylh th8 RVBC over ac¢e55 to the proposed development srte. tt is expected that the planning application vA)ukl be submitted earty in 2021. Page 5
- Trustees. Responsibllllles In relatlon to tho FlnanGial Stat•m•nts: Law applicable to charttles in ErvJland 8nd Wales requlres Trustees to prepare financial ststements for each financial year that grve a true and fair view of the charity's financial actNities during the year and of its financlal postln at the end of the year. In prepthJ these financial ststements, the Trustees have been adre of thelr obligats'ons to: Select suttable aUnti polic*s and then apply them Consistentry: Make judgments and est¥nates that are reasonable and prudent: stste whether appllcabb accourting stsndards and statements of recJ)mmended practice have been foll(yAed 8ubJe¢t to any dep&tures dlsdosed and explaingd in th8 flnancial statements.. and Prepare the financial ststements on th8 going concern basis unl988 it Is inappropdale to presume the chwity VAII contlnue in tSIness. and have mplIed with them. Page 6
Ind•pendent Exthninefs R•port to th• TnMt••s of Th• Clith•ro• Royal Grammar S¢hool Foundion Ind•Tra•nI •x•mlnees rnport lo th• InMt••s of Th• Cllthgroo Royal fy•mmar khogl Foundatk I report to the charity trLFStees on my examination of ts a(xc4mts of The ailheroa Royal Grammar Schod FcndaIon (the Trust) fcf the ended 31 August 20. R•¥ponslbllltles and bag1# of r•port As Ihe ch8rity truste of the Trust y)u tre resF#Mslble for tr kyepar0tl ol the a(uunts in accordanc wilh tht requirements of Ctsrith'es Ad 2011 Acfl. I report in respect of my 8xam#iakn of Ihe Trusfs acc4wnts sectbn 145 of the Act and In oul my exominabon I have fOlld all 8pplica)le DkKfjons given by the Charity Commission under secuon 1445Xbl of kt. Ind•p•nd•nt •xamln•rf• 8tat•m•nt I have completed my exominab"on. I confim m8terial mattws (yjme to my ottlI0n In ¢onneLtion th tha 6xamlnatK>n gNir¥J me c8we to believe that in any materlal res aC(XntIng rncords Mere not kept rospect of the Tw51 as rOquW by section 130 of the Act,. or the accounts do not •c¢>)rd Yth reoyds.. LY thg xcounts do rbot comply V•ilh Ihe applicable reqw¢mlS con¢wnlng th8 fom and ccrtènt of 8ccounts sel out in Ih8 ChadeS (Accounts and Repryts) Regulgts'ons 2008 other than any uirement tho1 uuve a In 8fKI lalr vlew is t a matter Mnsidwed 8$ Port of on Independent examhaticffl. I hm no coemS come w)ss no othw maltern kn wirnclw)n ith examSnatK)n to attenllon shoukl bo (kswn in th18 rep)rt in dr •bI# a undergtsndng of th8 accounts to bo reoch•J. MrsA M Smlth FCCA 88nn6tt Klrkhope Smbth Chartefed Certified Accountsnts Suite5 S & 6 The Prinmorks Hey Road Barrow Clittteroo Lancashire 887 gw8 Date.. 29 June 2021
Th• ClSthoroo Royal Grammw SclK•oI Foundatlon Statsmon¢ of FinanGial Activit for th• Y•ar End•d 31 AUffjt 2020 31.8.20 Totsl funds 31.8.19 Total funds UNe5trKaed ETrJo*Thent fuNJ Notes INCOME AND ENDOWPAEpffs FROM Donations and legacie5 3.845 12.416 Investment IrKom8 Other income 165.163 253 165.163 253 159,36S Total 169261 1.261 177,744 EXPENDrruRE ON R8i¥ing fund8 28,473 28.473 19.427 Charltabl• actlvltl•• Grnnt Maky 189,753 189,7S3 Olher 932 Total 219.158 219.158 87,626 Nel goinsl{10sse$l on Inve8lmants 14.688) 11286) 225.974 909.207 NEf INCOMEIIEXPENDITURE) (64.58S) 12112861 (276.8711 999.326 RECONCILIATION OF FUNDS Total fund• brought forw•rd 815.358 5.376.969 6.192.347 5,193.022 TOTAL FUNDS CARRIED FORWARD 5 165 703 5916476 6 192 347 The notes fom pwt d Ihese flnaThial statem8nts
| 31.8.20 | 31.8.19 | |||||
|---|---|---|---|---|---|---|
| unresincieu | EZi l U U W t i | tCf U | Total | Total | ||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| investments | ||||||
| Investments | 6 | 317,620 | 4,568,820 | 4,886,440 | 5,112,414 | |
| invesimenipropeny | 7 | R Q R nno | 617 736 | 596863 | ||
| 338,475 | 5,165,703 | 5,504,178 | 5,709,297 | |||
| CURRENT ASSETS | ||||||
| Debtors | 8 | 6,135 | 6,135 | |||
| Cast!at bank | 425,949 | 425,949 | 493.396 | |||
| 432,084 | - | 432,084 | 493,396 | |||
| CREDITORS | ||||||
| Amountsfallingduewithinone year | 9 | (19,786) | (19,786) | (10,346) | ||
| NET CURRENT ASSETS | 412,298 | 412,298 | 483,050 | |||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 750,773 | 5,165,703 | 5,916,476 | 6,192,347 | ||
| NET ASSETS | 750,773 | 5,165,703 | 5,916,476 | 6,192,347 | ||
| asm | ||||||
| FUNDS | 10 | |||||
| Unrestricted funds | 750,773 | 815,358 | ||||
| Endowment funds | 5,165.703 | 5,376,989 | ||||
| TOTAL FUNDS | 5,916,476 | 6,192,347 |
Th• Cllth•ro• Roy•l Grammar S¢lKJoI Found•ti N¢l•s to the Flnandal Statements for tho Yoar Endod 31 August 2020 AGGOUNTING POLICIES Bas15 of pr•parlng th financl•l st•m• The financial 5Lemgnts of the charity. is a bfft anty under FRS 102. have been prepared in acccfdance the Charibes SOFLV {FRS 102) 'Ac£ounting and Repryling by Charities: stateme of Recrxnmended Practice a[Wic8b to charit5 preparing their accwnts in accordance th the Financial Reporting Standard appliCae In Ihe UK and RewIj of Ireland {FRS 1021 leffecllve 1 January 20191.. Flnancial ReP)rtW Standarf 102 The Fin8wal Rep¢YtirvJ Standard appllcable In Ihe UK and Republic of Ireknrf a1 the Chariti8s Act 2011. The finandal ststemar have been wepared undef the historvl cost o)nvenlKffl, with the exceptl)n of inv6s1m6nts thich are includgj al market value. as mod[rd by the revaatron ol certain assets. All inccrfne is recoJnr5ed in the Statement of Flnancial Actiw once the ch8rfty has enlidemgnt to the funds. It is Obabl8 that the Income V+ill be receiv&J aThJ the am01 can be m68sur¢d reliably. Exp•ndltw• Llabilili8s are recognlsed as exFwrfllbJra a6 8(Kn a8 thtro 1$ 8 btrgl or ry)nstrucllve ob1WOn cLvnm1tt5ng Ihe charity to that 8xpenditUTè, it ts wobable that a transfer of economlc beneffts wll b8 rewire(l in selllemenl and the amount of Ihe cligat can be mgasured rdlably. Expenditurg is amnted for on an 8rn81s basis and has bogn classified under headmgs th818ggregale all cost rdatsd to the c818gory. Whore costs c8nr•)I be direcuy 8ttrlbuted to partar headings Ihey have boon ollocated to acthAties a basis consistent wth the u58 of resouTC4S. Grants offered sutlecl lo cth16tlon8 thlch ha¥p Th)t bn met at Ihg >ar end dat8 are noted Ss commltment not 8ccfueAI a$ experKlitur•. Inv••tm•nt proporty Investmenl property is Sho at most recent valualK>n. Any aggregate surplus or de1 arf8lng from eh•ng8s in fair v8lue is recowised in the Stslemenl of Fina181 Activltv&s. T•xatlon The charfty Is exempl from tax on its charitablo Fund •ccountlng Unr8strl¢lod fund8 can bg used In accord8rte the char#ablo ot4ectiNE¥ at dlscretlon of th trusta8S. Restricted fvnds C8n only be used for wtcul¥ T05tsIcl purposes *fjthin Ihe oty'ects of the ¢harily. Restslcllons arlse speCifd by the dor or knthen fvnds gre rais&l for parlicular restricted rp)s8s. Further explanabon ol the n8rg arKI of fvnd Is Iruded li the nots$ to the fin8nclal Page11 contknued...
Tho Clith•roe Royal Grammtr Scho(A Foundatlon Not to th• Flnanclal Stat•monts- ¢onlinu•d for th• Y•ar End•d 31 August 2020 INVESTMEKf INCOME 31.820 31.8.19 Rents received Investrnent inr4Jme Deposit account interest 15.192 147.396 2.575 3,382 153,212 165.163 RAISING FUNDS 31.8.20 31.8.19 5.734 4.208 1.170 7,177 Lagal professh)nal fees Rates and water lrysuran¢e Ught and heat Securtty Clear4ng 2,259 3.068 155 15.358 2.082 TRUSTEES. REMUNERATION AND BENEFITS Th•r• no truste89' remuneralmm or other for the ar erd 31 Augu 2020 n¢x foT Ihg year ended 31 August 2019. There b%eTe M Irustee6' expen808 for Ihe year erKled 31 August 2020 nor for tha yoar andbd 31 AuiKist 2019. COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTMnES Unrestrcled Er0Ment fund fund Totsl funds INCOME AND ENDOWMEiifs FROM Donatlon8 and legacaes 12,410 In¥Iment Incryne Other incLYne 159,365 159,365 Tolal 172.894 177,744 EXPENDITURE ON Rwsing funds 19.427 19.427 Chorltobl• actl¥ftle• Grant Making Other 1254 Total 87.626 87.626 Pe 12 conllnued...
Th Clhh•rn• Royal (knmw SCI11 FourMIth Not•s to tho Flnanclal Siatgmgnts- contlnuod for th• Y•ar End•d 31 August 2020 COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTMTIES. ¢ontlnu•d Total funds lund Net 98ln¥ on InStments 47.190 9.207 NEf INCOAIE 132.458 806.867 999,325 N•1 mov•m•nt kn funds 123.638 875.887 999,325 RECONCILIATK)N OF FUNDS Total fund• brought frnrd 1,720 4.9)1.302 5.193.022 TOTAL FUNDS CARRIED FORWARD 815358 5 376 989 6 192 347 FIXED ASSET INVESTIAEP Listed Inveslments MARKET VALUE Al 1 September 2019 Revalualons 5,112,414 At 31 August 2020 P4Ef BOOK VALUE At 31 August 2020 4,886,440 Ai 31 Aug1 2019 5 112414 The were investment assets outslde Ihe UK 114VESTMENT PROPERTY FAIR VALUE At 1 Seplanber 2019 Addilions 596,883 20,855 At 31 August 2020 NEf BOOK VALUE At 31 August 2020 617.738 At 31 ALQU5t 2019 596,883 Page 13 continued...
The Clilh•ro• Royal Gr•mmar sch¢1 Foundatlon Not¢s lo Iha Flmncial Statsm•nts- n11Th•d forth• Y•ar End•d 31 August 2020 DEBTORS: Amoupifs FALUNG DUE bMTHIN ONE YEAR 31.820 31.8.19 VAT 6,135 CREDrroRS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 31.8.20 31.8.19 Trade creLfjlor8 Olh8r (xedito 15.048 4.738 10.345 19.786 10. MOVEMENT IN FUNDS Net movement In funds At 31.8.20 Ai 1.9.19 Unr••trld•d lun 815,358 (&4.585) T,773 Endowm•nt fundB Endovrnent 5.376.989 (211,286) 5.165,703 TOTAL FUNDS 275 871 6 192347 5916476 Nel MOVan1 In furKI8, induded in Ihe arn 88 follow8". Irthming Reswrt¢8 Gaiis and Movement n funds Unmtrkt•d lund• Ganeral fvnd 169261 {219,158) {14.6881 <64,5851 Endowm•nt fund• Endowment {211.2861 {211,286) TOTAL FUNDS 169,261 275.8711 Page14 Contin1...
Th• Clithero• Royal Grammar School Found•llon Notes to th• Flnanclal S¢at•mgnts- con11nd for lh• Year End 31 Augusl 2020 10. PAOVEMENT IN FUNDS - corrtlnued Comparat$ for mov•m•nt In fund• Nel Transfers At 31.8.19 At 1.9.18 funds Unr•StrIct fund• General fund 1.720 132.4&8 18,820) 815,3Sg End¢)wm•nt I1 Endowrnent 4.501.302 8e6,867 8.820 5.376,989 TOTAL FUNDS Comparative nal movnl in fimds. inded in tho ab8 are as follovA: I)mIng RI)sre•S G8ir •rwJ movOnI in fund8 Unr••trlct•d lunds General fund 1r2,894 (87,628) 47.190 132,458 Endowm•nt fvnd• Endovmenl 4.850 862.017 866,887 TOTAL FUNDS 87 626) 909,207 A current year 12 months and prior year 12 months combid r*)sition IB as foNovB: Trarfer5 mcwemgnt in funds At 31.8.20 At 1.9.18 Unrn8trlctod fund• General fund 691,720 67.873 18,8201 7x1.773 Endowm•nt fvfftd• ErKlowm8nt 4.501,2 655.581 8,820 5,165,703 TOTAL FUNDS 5.193.022 723.454 5,916,478 Page 15 ¢yJnt¥iued...
Th• c11thw Roy•l Grammar School Found•th)n Not•s to th• Flnanclal Stat•monts - wrtlnu•d for th• Y•ar End•d 31 August 2020 10. mOEMENT IN FUNDS- conlinued A current y88r 12 months and prnr >Tar 12 monlh6 ninj ngl M0ment in fvnds. Ided Sn the aLVe are as folkn. ITorn¥¥j Resources Gains and Movement resources experKl•J kns8eS in funds Llnr•strl¢t•d fund• General fl1 342.155 1306,784) 32.502 87,873 Endowm•nt lund• Endovmi¢nt 4,8S) 850.731 655.581 TOTAL FUNDS 306.784 11. RELATED PARTY DISCLOSURES re V•rre rn r8laled pwty trnnsactims for Ihe >par ermled 31 AUst 2020. Pa9e 16
Th• Clrlhorn• Ro1 Gr4mmar School Foundallon Dotslled Stat•ffl•nt of Fln4nGlal AGtlvlll•s for th• Year End•d 31 August 2020 31.8.20 31.8.19 COME AND ENDOWMENTS Donatlon• and l•gacl•s DOnati¢S 12,416 Inv•8tm•nt In¢om• Rents received Investsnerrt Income Deposit account intsrest 15,192 147.396 2.575 3.382 153,212 165.183 159,380 Oth•r Incom• Wafvav8 Grass efoo 253 583 5,400 253 Totsl Incomlwd r•*our¢ 189.261 177,744 EXPENDITURE InvMthi•nt m•n•y•m•nt costs Propety repai Legal and professionql fws RalBs and water InsurarKa Light and heat 5.734 4.208 1.170 1,848 155 1S.358 7,177 2,259 2.082 Cleanlng 28.473 19.427 Charttabl• •ctlvltl•• Grants lo irtstitutions Gronts lo irbjividuol 154.143 30.950 35,995 189,743 66.945 Support costs IAanagom•nt Sundries 10 380 ov•rnanc• ¢osts Independent examlners fee CIO che 14 932 Total re8our¢e$ expended 219.158 Net {expondltur•ylncom• befor• galn• and 1088•9 (49.8971 ,118 This page does rK>t forni part of the ststtrtory finwKi81 stateMts Page 17
Th• Clllheroe Royal Grammar Sch¢xA Found•tlon Datsllèd Statsm•nt of Fln4n¢l•l Adl¥ltl•g fr•r th• Y•ar Endèd 31 August 2020 31.8.20 31.8.19 Ra•Jl8•d r•cognis•d gains Reglwj gay1{10588S} on in¥•Stments N•t (èxp•ndStur•Vlncom• 275 871 Thi8 page does rb)t fc¥m p•101 the stsbjtory financial statnw*ts 18