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|Contents|||||||
|---|---|---|---|---|---|---|
|Reference||and Administrative<br>Details|||||
|Trustees'|Report||||||
|1.||Structure,<br>Governance<br>and Management|||||
|||1.1 Constitution|||||
|||1.2 Trustees|||||
|||1.3Governance|||||
|||1.4 Connected<br>Organisation||||2-3|
|2.||Public Benefit|||||
|3.||Financial review|||||
|||3.1 Nature ofthe Foundation's||Assets|||
|||3.2 Investment<br>Policy 8 Performance|||||
|||3.3Reserves Policy|||||
|||3.4 Identification<br>of Major|Risks||||
|4.||Objectives and Activities|||||
|5.||Achievements<br>and Performance|||||
|||5.1 Payments<br>to Clitheroe|Royal Grammar||School||
|||5.2 Payments<br>to Students|and|Parents|||
|6.||Future Plans|||||
|7.||Trustees Responsibilities|in relation to the||Finance Statements||
|8.||Accounts|||||
|Independent||Examiners'<br>Report|||||
|Statement of Financial Activities|||||||
|Balance Sheet|||||||
|Notes to the Financial Statement,||||incorporating:||10-18|
|||Statement<br>ofAccounting|Policies||||
|||Other Notes to the Financial Statements|||||





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|Trustees||Or A O Clayton|- Chairman|- Chairman|- Chairman|- Chairman||(Appointed|(Appointed|(Appointed|Trustee)|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||MrJ EVanS (Appointed|||Trustee|||w.e.f||23February 2021)||
|||Mrs JS Hart (Appointed||||Trustee)||||||
|||Mr W D Honeywell||(Appointed|||||Trustee-||Resigned 31March 2022)|
|||MrS6 Isher wood||(Appointed||||Trustee)||||
|||Mr A Rogers (Appointed||||Trustee|||w.e.f 23February. 2021)|||
|||MrJSSutton|(Appointed|||Trustee)||||||
|||Mr<br>I Ali (CRGS|Parent Governors||||||Nom. Trustee- Resigned 11May 2022)|||
|||Coun SFarmer - (RVBCNominated||||||||Tiustee- w.e.f 1June 2021)||
|Address for|correspondence|Clitheroe Royal Grammar|||||School|||Foundation||
|||York Street||||||||||
|||Clitheroe||||||||||
|||Lancashire||||||||||
|||BB72DJ||||||||||
|Charity Number||1174177||||||||||
|Independent|Examiner|Mrs A M Smith||||||||||
|||Bennett Kirkhope Smith Ltd||||||||||
|||Suites 58 6The Printworks||||||||||
|||Hey Road||||||||||
|||Barrow||||||||||
|||Clitheroe||||||||||
|||Lancashire||||||||||
|||BB79WB||||||||||
|Bankers||Santander<br>UK|pic|||||||||
|||Business Banking||||||||||
|||Bridle Road||||||||||
|||Booth||||||||||
|||L304GB||||||||||
|Investment|Advisers|JMFinn8 Co||||||||||
|||4 Coleman<br>Street||||||||||
|||London||||||||||
|||EC2R 5TA||||||||||
|Solicitors||Forbes||||||||||
|||Rutherford<br>House||||||||||
|||4 Wellington<br>Street (St||||John' s)||||||
|||Blackbum||||||||||
|||BB18DD||||||||||





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|||||||31.8.21|31.8.20|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Total|Total|
|||||fund,|fund|funds|funds|
||||Notes|E|f.|||
|INCOME AND ENDOWMENTS||FROM||||||
|Donations<br>and legacies||||4,971||4,971|3,845|
|Investment<br>income||||157,660||157,660|165,163|
|Other income||||215||215|253|
|Total||||162,846||162,846|169,261|
|EXPENDITURE ON||||||||
|Raising funds||||33,535|17,869|51,404|46,326|
|Charitable<br>activities||||||||
|Grant Making||||330,077||330,077|189,753|
|Other||||1,445||1,445|932|
|Total||||365,057|17,869|382,926|237,011|
|Net gains/(losses)|on investments|||50,102|720,709|770,811|~208,121)|
|NET INCOME/(EXPENDITURE)||||(152,109)|702,840|550,731|(275,871)|
|Transfers<br>between|funds||10|~20,855)|20,855|||
|Net movement<br>in|funds|||(172,964)|723,695|550,731|(275,871)|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought<br>forward||||750,773|5,165,703|5,916,476|6,192,347|
|TOTAL FUNDS CARRIED FORWARD||||577,809|5,889,398|6,467,207|5,916,476|





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||||||31.8.21|31.8.20|
|---|---|---|---|---|---|---|
|||Unrestricted||Endowment|Total|Total|
|||fund|.|fund|funds|funds|
||Notes||||||
|FIXEDASSETS|||||||
|Investments|||||||
|Investments||366,480||5,271,660|5,638,140|4,886,440|
|Investment<br>property||||617,738|617,738|617,738|
|||366,480||5,889,398|6,255,878|5,504,178|
|CURRENT ASSETS|||||||
|Debtors||10,255|||10,255|6,135|
|Cash at bank||212,922|||212,922|425,949|
|||223,177|||223,177|432,084|
|CREDITORS|||||||
|Amounts<br>falling due within one year|9|(11,848)|||(11,848)|(19,786)|
|NET CURRENT ASSETS||211,329|||211,329|412,298|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||577,809||5,889,398|6,467,207|5,916,476|
|NET ASSETS||577,809||5,889,398|6,467,207|5,916,476|
|FUNDS|10||||||
|Unrestricted<br>funds|||||577,809|750,773|
|Endowment<br>funds|||||5,889,398|5,165,703|
|TOTAL FUNDS|||||6,467,207|5,916,476|





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|||Unrestricted|Endowment|Total|
|---|---|---|---|---|
|||fund|fund|funds|
|INCOME AND ENDOWMENTS|FROM||||
|Donations<br>and legacies||3,845||3,845|
|Investment<br>income||165,163||165,163|
|Other income||253||253|
|Total||169,261||169,261|
|EXPENDITURE ON|||||
|Raising funds||29,633|16,693|46,326|
|Charitable<br>activities|||||
|Grant Making||189,753||189,753|
|Other||932||932|





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|5.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES|- continued||
|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Total|
|||||fund|fund|funds|
|||||E|E||
||Total|||220,318|16,693|237,011|
||Net gains/(losses)|on|investments|~13528)|~194,593)|~208,121)|
||NET INCOME/(EXPENDITURE)|||(64,585)|(211,286)|(275,871)|
||RECONCILIATION|OF FUNDS|||||
||Total funds brought||forward|815,358|5,376,989|6,192,347|
||TOTAL FUNDS CARRIED FORWARD|||750,773|5,165,703|5,916,476|
|6.|FIXEDASSET INVESTMENTS||||||
|||||||Listed|
|||||||investments|
||MARKET VAI UE||||||
||At 1 September 2020|||||4,886,440|
||Revaluations<br>Management<br>fees|||||770,811<br>~19,111)|
||At 31 August 2021|||||5,638,140|
||NET BOOK VALUE||||||
||At 31 August 2021|||||5,838,140|
||At 31 August 2020|||||4,886,440|





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||31.08.21|31.08.20|
|---|---|---|
||Market|Market|
|ASSETTYPE|Value|Value|
|Fixed Interest|||
|UK Bonds|1,365,553|1,613,218|
|Overseas Bonds|50,656|53,049|
|Equities &Funds|||
|UK|1,917,906|1,561,094|
|North America|181,341|140,745|
|Europe|423,822|352,045|
|Asia ExJapan|354,154|284,579|
|Global|514,750|601,456|
|Global Themed|330,400||
|Emerging<br>Markets|33,150|26,625|
|Alternatives|213,638|36,443|
|Cash|247,866|210,285|
|Accrued Interest|4,904|6,901|
|Total|5,638,140|4,886,440|





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|8.|DEBTORS:|AMOUNTS<br>F|ALLING DUE WITHIN ONE Y|EAR||||
|---|---|---|---|---|---|---|---|
|||||||31.8.21|31.8,20|
|||||||E||
||Trade debtors|||||8,408||
||VAT|||||1,111|6,135|
||Prepayments|||||736||
|||||||10,255|6,135|
|9.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE|YEAR||||
|||||||31.8.21|31.8.20|
||||||||E|
||Trade creditors|||||1,685|15,048|
||Other creditors|||||10,163|4,738|
|||||||11,848|19,786|
|10.|MOVEMENT|IN FUNDS||||||
||||||Net|Transfers||
|||||movement||between|At|
||||At 1.9.20|in|funds|funds|31.8.21|
|||||||E||
||Unrestricted|funds||||||
||General<br>fund||750,773|(152,109)||(20,855)|577,809|
||Endowment|funds||||||
||Endowment||5,165,703|702,840||20,855|5,889,398|
||TOTAL FUNDS||5,916,476|550,731|||6,467,207|





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|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
||||E|||
|Unrestricted|funds|||||
|General<br>fund||162,846|(365,057)|50,102|(152,109)|
|Endowment|funds|||||
|Endowment|||(17,869)|720,709|702,840|
|TOTAI. FUNDS||162,846|~382,926)|770,811|550,731|



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||||||Net||
|---|---|---|---|---|---|---|
||||||movement|At|
|||||At 1.9.19|in funds|31.8.20|
|Unrestricted|funds||||||
|General<br>fund||||815,358|(64,585)|750,773|
|Endowment|funds||||||
|Endowment||||5,376,989|(211,286)|5,165,703|
|TOTAL FUNDS|||||||
|Comparative|net movement|in funds, included|in the above|are as follows:|||
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|Unrestricted|funds||||||
|General<br>fund|||169,261|(220,318)|(13,528)|(64,585)|
|Endowment|funds||||||
|Endowment||||(16,693)|(194,593)|(211,286)|
|TOTAL FUNDS|||169,261|I237,011)|I208,121)|~275,871)|





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|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 'l.9.19|in funds|funds|31.8.21|
|||||||F|
|Unrestricted||funds|||||
|General|fund||815,358|(216,694)|(20,855)|577,809|
|Endowment||funds|||||
|Endowment|||5,376,989|491,554|20,855|5,889,398|
|TOTAL|FUNDS||6,192,347|274,860||6,467,207|



|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|||||E||
|Unrestricted|funds|||||
|General<br>fund||332,107|(585,375)|36,574|(216,694)|
|Endowment|funds|||||
|Endowment|||(34,562)|526,116|491,554|
|TOTAL FUNDS||332,107|~619,937)|562,690|274,660|



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|||||31.8.21|31.8.20|
|---|---|---|---|---|---|
|INCOME AND ENDOWMENTS||||||
|Donations<br>and|legacies|||||
|Donations||||4,971|3,845|
|Investment<br>income||||||
|Rents received||||15,088|15,192|
|Investment<br>income||||142,540|147,396|
|Deposit account|interest|||32|2,575|
|||||157,660|165,163|
|Other income||||||
|Wayleave||||215|253|
|Total incoming|resources|||162,846|169,261|
|EXPENDITURE||||||
|Investment<br>management|||costs|||
|Portfolio management||fees||19,111|17,853|
|Property repairs||||1,895|5,734|
|Legal and professional||fees||1,815|4,208|
|Rates and water||||1,847|1,170|
|Insurance||||1,578|1,848|
|Light and heat||||114|155|
|Security||||25,044|15,358|
|||||51,404|46,326|
|Charitable<br>activities||||||
|Grants to institutions||||292,772|154,143|
|Grants to individuals||||37,305|35,600|
|||||330,077|189,743|
|Support costs||||||
|Management||||||
|Sundries||||41|10|
|Governance costs||||||
|Independent<br>examiners|||fee|1,404|932|
|Total resources|expended|||382,926|237,011|
|Net expenditure|before||gains and losses|(220,080)|(67,750)|
|Unrealised<br>recognised|||gains and losses|||
|Carried forward||||(221,484)|(68,682)|





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||||31.8.21|31.8.20|
|---|---|---|---|---|
||||E|F|
|Unrealised|recognised|gains and losses|||
|Brought forward|||(221,484)|(68,682)|
|Unrealised|gains/(losses)|on investments|770,811|~208,121)|
|Net income/(expenditure)|||550,731|~275,871)|