The Clitheroe Royal Grammar School Foundation
Charftable Incorporated Organlsatlon
Annual Report and Flnanclal Statements
Year ended 31 August 2020
Charity Rrystrknon P￿rnber. 1174177

Cllth•roa Royal Grammar School Foundatlon
Ref￿rtt 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 Re8er4*s Polky
3.4 Id8nttfK*bn of ma￿)r Rtsks
5. AchiBYements Performan
5.1 PayTh￿S to CNthero8 R￿1 Gr￿rnar Sct#￿I
5.2 Payly￿S to st￿lents &KJ Parents
6. Future P18n8
7. Truslee8 ResFxThlblltw kn relatKJn to the FInan￿ Stst￿￿ts
Independent E￿nineTr, Report
Statsment of Fknanryal
BalarKe Sheet
10
11-16
Detailed Slatsm8nt ol FinancAI Pdivil*s
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 examin*s'
rew)rt of the Foundation for the y8ar ended 31 Augusl 2020.
1. Structur• Gov•mance and Managam•nt
1.1. Constllutl*X:
The c11t￿r0e Royal Granmar School Foundat￿ IS 8 Charitable Incorporated
0rgna1sa￿n. registered chafity. No. 1174177 IEr#Jland and Wales)
The Found8tr>n is govemed by.
The Constttthn of tho Clitheroe Royal Grammar sd￿01 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 COU￿1.
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 gl￿rantee (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
sch￿1.
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 EdL￿￿10n 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 FOunda￿n 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 c￿m￿led with the duty (Set out In $￿t￿n 4 of the Charlt18s Act 2011) to
have due regard to public benefft guidance published by the Charity Commlsslon. Th9
Foundation 8￿StS 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 s￿la1 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 at￿ve can therefore no longer b8
achieved. then the obj'ect of the charity shall be to promote the eduCat￿n of person3 u￿ler 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(
wh￿h was originalty set up in 1554 lo be aTrJ to last foreverf, means that the current Trustèes.
in common with tP*ir predecessoTr over the past 466 years, have no powers to sFend any of
these fvnds withC￿t 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, hov￿Ver, 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 aL￿re.
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 investr*nt 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 reW￿r 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 Ik*n8e 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 b81**en 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 0￿￿ts¥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 Chati￿rn Road. and a further £32,072 was ￿nated to cover the
architect's and ongin*s fees etc. for the 88cond phase of this wo
5.2. Paym•nts lo Stud•nts and Par¢nts
FOundat￿n 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 ex￿ndituTe 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 I￿￿1r 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 aStrothys￿l8t. 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. ho￿ver, 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 I￿al fimi of plannirvJ
consullants and commerclal PrO￿rtY 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 Val￿Y 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 nego￿at￿n 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

7. 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 postl￿n at the end of the year. In prepthJ these
financial ststements, the Trustees have been a￿dre of thelr obligats'ons to:
Select suttable a￿Unti￿ 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 t￿SIness.
and have ￿mplIed with them.
Page 6

## 



Ind•pendent Exthninefs R•port to th• TnMt••s of
Th• Clith•ro• Royal Grammar S¢hool Found*ion
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
Fc￿ndaIon (the Trust) fcf the ended 31 August 2￿￿0.
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 fOll￿d 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 ott￿lI0n In
¢onneLtion ￿th tha 6xamlnatK>n gNir¥J me c8we to believe that in any materlal res
aC(X￿ntIng rncords Mere not kept ￿ rospect of the Tw51 as rOquW￿ by section 130 of the Act,. or
the accounts do not •c¢>)rd Y￿th reoyds.. LY
thg xcounts do rbot comply V•ilh Ihe applicable reqw¢m￿lS con¢wnlng th8 fom and ccrtènt of
8ccounts sel out in Ih8 Cha￿deS (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 co￿emS come w)ss no othw maltern kn wirnclw)n *ith examSnatK)n to
attenllon shoukl bo (kswn in th18 rep)rt in ￿d￿r ￿ ￿•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 AU￿ffjt 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**|**596**863|
|||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 5L*emgnts of the charity. is a b￿fft an￿ty 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 charit￿5 preparing their accwnts in accordance
th the Financial Reporting Standard appliCa￿e 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 a￿1 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[r￿d by the reva￿atron 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 am0￿1 can be m68sur¢d reliably.
Exp•ndltw•
Llabilili8s are recognlsed as exFwrfllbJra a6 8(K*n a8 thtro 1$ 8 btrgl or ry)nstrucllve ob1W￿On
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 c￿ligat￿￿ 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 part￿ar 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 b￿n 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 de￿1 arf8lng from
eh•ng8s in fair v8lue is recowised in the Stslemenl of Fina￿181 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 speCif￿d by the dor￿ or knthen fvnds gre rais&l for parlicular restricted
rp)s8s.
Further explanabon ol the n8￿rg arKI of fvnd Is Ir￿uded 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 er￿d 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 Er￿0￿Ment
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
P￿e 12
conllnued...

Th Clhh•rn• Royal (knmw SCI￿11 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 In￿Stments
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 Aug￿￿1 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 MOV￿an1 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
Contin￿1...

Th• Clithero• Royal Grammar School Found•llon
Notes to th• Flnanclal S¢at•mgnts- con11n￿d
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 I￿￿1*
Endowrnent
4.501.302
8e6,867
8.820
5.376,989
TOTAL FUNDS
Comparative nal mov*n￿l in fimds. in￿ded in tho ab￿￿8 are as follovA:
I￿)mIng RI)s￿re•S G8ir* •rwJ mov￿￿OnI
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 combi*d r*)sition IB as foNovB:
Trar￿fer5
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. mO￿EMENT IN FUNDS- conlinued
A current y88r 12 months and prnr >Tar 12 monlh6 ￿ni￿n￿j ngl M0￿ment in fvnds. I￿￿ded Sn the
aL￿Ve are as folkn￿.
IT￿orn¥¥j
Resources Gains and Movement
resources experKl•J kns8eS
in funds
Llnr•strl¢t•d fund•
General fl￿1
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 A￿Ust 2020.
Pa9e 16

Th• Clrlhorn• Ro￿1 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 ch￿e
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 stateM￿ts
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 gay￿1{10588S} on in¥•*Stments
N•t (èxp•ndStur•Vlncom•
275 871
Thi8 page does rb)t fc¥m p•101 the stsbjtory financial stat*nw*ts
18