##
|Contents||||||||
|---|---|---|---|---|---|---|---|
|Reference|and Administrative
Details|||||||
|Trustees'|Report|||||||
|1.||Structure,
Governance
and||Management||||
|||1.1 Constitution||||||
|||1.2Trustees||||||
|||1.3Governance||||||
|||1.4Connected
Organisation|||||2-3|
|2.||Public Benefit||||||
|3.||Financial
review||||||
|||3.1 Nature ofthe Foundation's|||Assets|||
|||3.2 Investment
Policy &Performance||||||
|||3.3Reserves Policy||||||
|||3.4 Identification
ofMajor|Risks|||||
|4.||Objectives and Activities||||||
|5.||Achievements
and Performance||||||
|||5.1 Payments
to Clitheroe|Royal Grammar|||School||
|||5.2 Payments
to Students|and||Parents|||
|6.||Future Plans||||||
|7.||Trustees Responsibilities|in|relation to the||Finance Statements||
|8.||Accounts||||||
|Independent||Examiners'
Report||||||
|Statement||of Financial Activities||||||
|Balance Sheet||||||||
##
|Reference|and Administrative
|Details|Details|Details||||
|---|---|---|---|---|---|---|---|
|Trustees||DrA D Clayton - Chairman|||(Appointed||Trustee)|
|||MrJ EVanS (Appointed|Trustee)|||||
|||Mre JSHart (Appointed||Trustee)||||
|||Mr W D Honeywell
(Appointed||||Ttuslee-|Resigned 31March 2022)|
|||MrSG Isherwood
(Appointed||||Trustee)||
|||Mr A Rcgere (Appointed
MrJSSutton (Appointed||Trustee)
Trustee)||||
|||Mr I Ali (CRGS Parent Governors||||Nom. Trustee —Resigned 11Msy 2022)||
|||Caun SFarmer - (RVBCNom. Trustee- Resigned 10Mey 2022)
Mr0Nowell
(Appointed Trustee-16 November 2022)
MrA Hawklns
(CRGSPamnt Governors
Nom. Trustee -1January 2023)||||||
|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 586The Printworks||||||
|||Hey Road||||||
|||Barrow||||||
|||Clitheroe||||||
|||Lancashire||||||
|||BB7gWB||||||
|Bankers||Santander
UK pic||||||
|||Business Banking||||||
|||Bridle Road||||||
|||Bootle||||||
|||L304GB||||||
|Investment|Advisers|J M Finn &Co||||||
|||4 Coleman Street||||||
|||London||||||
|||EC2R 5TA||||||
|Solicitors||Forbes||||||
|||Rutherford
House||||||
|||4 Wellington
Street (St John'||||s)||
|||Blackbum||||||
|||BB18DD||||||
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|||||||31.8.22|31.8.21|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Total|Total|
|||||fund|fund|funds|funds|
||||Notes||6|6|6|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies||||3,635||3,635|4,971|
|Investment
income|||2|171,604||171,604|157,660|
|Other income||||230||230|215|
|Total||||175,469||175,469|162,846|
|EXPENDITURE ON||||||||
|Raising funds|||3|31,198|18,400|49,598|51,404|
|Charitable
activities||||||||
|Grant Making||||113,536||113,536|330,077|
|Other||||2,475||2,475|1,445|
|Total||||147.209|18 4DD|165609|382,926|
|Net gains/(losses)|on investments|||~300)7)|~43).785)|~46),802)|1111811,|
|NET INCOME/(EXPENDITURE)||||(1,757)|(450,185)|(451,942)|550,731|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||577,809|5,889,398|6,467,207|5,916,476|
|TOTAL FUNDS CARRIED FORWARD||||576,052|5,439,213|6,015,265|6,467,207|
##
|||||31.8.22|31.8.21|
|---|---|---|---|---|---|
|||Unrestricted|Endowment|Total|Total|
|||fund|fund|funds|funds|
||Notes|||F|F|
|FIXEDASSETS||||||
|Investments||||||
|Investments|6|335,184|4,821,475|5,156,659|5,638,140|
|Investment
property|7|-|617,738|617,738|617,738|
|||335,184|5,439,213|5,774,397|6,255,878|
|CURRENT ASSETS||||||
|Debtors|8|11,006||11,006|10,255|
|Cash at bank||241,051||241,051|212,922|
|||252,057||252,057|223,177|
|CREDITORS||||||
|Amounts
falling due within one year|9|(11,189)||(11,189)|(11,848)|
|NET CURRENT ASSETS||240,868||240,868|211,329|
|TOTAL ASSETS LESSCURRENT||||||
|LIABILITIES||576,052|5,439,213|6,015,265|6,467,207|
|NET ASSETS||576,052|5,439,213|6,015,265|6,467,207|
|FUNDS|10|||||
|Unrestricted
funds||||576,052|577,809|
|Endowment
funds||||5,439,213|5,889,398|
|TOTAL FUNDS||||6,615,265|6,467267|
##
##
##
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##
##
##
|||||31.8.22|31.8.21|
|---|---|---|---|---|---|
|||||f||
|Rents received||||16,550|15,088|
|Investment|income|||154,989|142,540|
|Deposit account interest||||65|32|
|||||171,604|157,660|
|RAISING FUNDS||||||
|Investment|management||costs|||
|||||31.8.22|31.8.21|
|||||8||
|Portfolio management||fees||19,679|19,111|
|Property repairs||||1,577|1,895|
|Legal and|professional|fees||2,368|1,815|
|Rates and|water|||1,751|1,847|
|Insurance||||1,689|1,578|
|Light and heat||||121|114|
|Security||||22,413|25,044|
|||||49,598|51,404|
##
##
##
##
|||Unre stdcted|Endowment|Total|
|---|---|---|---|---|
|||fund|fund|funds|
|||E|6||
|INCOME AND ENDOWMENTS|FROM||||
|Donations
and legacies||4,971||4,971|
|Investment
income||157,660||157,660|
|Other income||215||215|
|Total||162,846||162,846|
|EXPENDITURE ON|||||
|Raising funds||33,535|17,869|51,404|
|Charitable
activities|||||
|Grant Making||330,077||330,077|
|Other||1,445||1,445|
##
||COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued||
|---|---|---|---|---|---|
||||Unrestricted|Endowment|Total|
||||fund|fund|funds|
||||F|||
||Total||365057|17,869|382,926|
||Nst gains on investments||50,102|720.700|770 811|
||NET INCOME/(EXPENDITURE)
Transfers
between funds||(152,109)
~20.855|702,840
20,855|550,731|
||Net movement
in funds||(172,964)|723,695|550,731|
||RECONCILIATION|OF FUNDS||||
||Total funds brought|forward|750,773|5,165,703|5,916,476|
||TOTAL FUNDS CARRIED FORWARD||577,308|5,889,398|6,467,207|
|6.|FIXEDASSET INVESTMENTS|||||
||||||Listed|
||||||investments|
||MARKET VALUE|||||
||At 1 September 2021
Revaluations||||5,638,140
~481.481 7|
||At 31August 2022||||5,156,659|
||NET BOOK VALUE|||||
||At 31 August 2022||||5,156,659|
||At 31 August 2021||||5638.140|
##
||31.8.22|31.8.21|
|---|---|---|
||Market|Market|
|ASSETTYPE|Value|Value|
||5||
|Fixed Interest|||
|UK Bonds|1,153,321|1,365,553|
|Overseas Bonds||50,656|
|Equities 8 Funds|||
|UK|1,783,301|1,917,906|
|North America|179,490|181,341|
|Europe|388,603|423,822|
|Asia ExJapan|315,016|354,154|
|Global|500,250|514,750|
|Global Themed|223,760|330,400|
|Emerging
Markets|33,150|33,150|
|Alternatives|267,380|213,638|
|Cash|309,783|247,866|
|Accrued Interest|2,602|4,904|
|Total|6.166.666|5,638,140|
##
##
|INVESTMENT PROPERTY||
|---|---|
|FAIR VALUE||
|At 1 September 2021||
|and 31 August 2022|617,738|
|NET BOOK VALUE||
|At 31August 2022|617,738|
|At 31August 2021|617,738|
##
##
##
||||||31.8.22
f|31.8.21|
|---|---|---|---|---|---|---|
|Trade debtors|||||9,724|8,408|
|VAT|||||546|1.111|
|Prepayments|||||736|736|
||||||11,006|10255|
|CREDITORS: AMOUNTS||FALLING DUE|WITHIN ONE YEAR||||
||||||31.8.22|31.8.21|
|Trade creditors|||||196|1,685|
|Other creditors|||||10,993|10,163|
||||||11,189|11,848|
|MOVEMENT|IN FUNDS||||||
||||||Net||
||||||movement|At|
||||At|1.9.21|in funds|31.8.22|
|||||6|||
|Unrestricted|funds||||||
|General
fund|||577,809||(1,757)|576,052|
|Endowment|funds||||||
|Endowment|||5,889,398||(450,185)|5,439,213|
|TOTAL FUNDS|||||||
##
|Nei movement|in funds,
inc|lude|d
in t|he above|are as follow|s:|||
|---|---|---|---|---|---|---|---|---|
||||||Incoming|Resources|Gains and|Movement|
||||||resources|expended|losses|in funds|
||||||6|8|6||
|Unrestricted|funds||||||||
|General
fund|||||175,469|(147,209)|(30,017)|(1,757)|
|Endowment|funds||||||||
|Endowment||||||(18,400)|(431,785)|(450,185)|
|TOTAL FUNDS|||||175,469|(165,609)|(461,802)|~451,942)|
|Comparatives|for movement||in funds||||||
|||||||Nel|Transfers||
|||||||movement|between|At|
||||||At 1.9.20|in funds|funds|31.8.21|
||||||6|E|F|8|
|Unrestricted|funds||||||||
|General
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||6 667,267|
|Comparative|nel movement|in|funds,|included|in the above|are as follows:|||
||||||Incoming|Resources|Gains and|Movement|
||||||resources|expended|losses|in funds|
|||||||||6|
|Unrestricted|funds||||||||
|General
fund|||||162,846|(365,057)|50,102|(152,109)|
|Endowment|funds||||||||
|Endowment||||||(17,869)|720,709|702,840|
|TOTAL FUNDS|||||162,846|(382,992266)|770,811|550,731|
##
|A curren|t yea|r 12months and pr|ior year 12months
combin|ed
position is|as follows:||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.9.20|in funds|funds|31.8.22|
|||||6|6|F|
|Unrestricted||funds|||||
|General|fund||750,773|(153,866)|(20,855)|576,052|
|Endowment||funds|||||
|Endowment|||5,165,703|252,655|20,855|5,439,213|
|TOTAL|FUNDS||5.916476|98.7811||6,915,265|
|above are as|follows:|||||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources
f|expended
6|losses
6|in funds|
|Unrestricted|funds|||||
|General
fund||338,315|(512,266)|20,085|(153,866)|
|Endowment|funds|||||
|Endowment|||(36,269)|288,924|252,655|
|TOTAL FUNDS||||||
##
##
||||31.8.22|31.8.21|
|---|---|---|---|---|
|INCOME AND ENDOWNIENTS|||||
|Donations
and legacies|||||
|Donations|||3,635|4,971|
|Investment
income|||||
|Rents received|||16,550|15,088|
|Investment
income|||154,989|142,540|
|Deposit account interest|||65|32|
||||171,604|157,660|
|Other income|||||
|Wayleave|||230|215|
|Total incoming resources|||175,469|162,846|
|EXPENDITURE|||||
|investment
management||costs|||
|Portfolio management|fees||19,679|19,111|
|Property repairs|||1,577|1,895|
|Legal and professional|fees||2,368|1,815|
|Rates and water|||1,751|1,847|
|Insurance|||1,689|1,578|
|Light and heat|||121|114|
|Security|||22,413|25,044|
||||49,598|51,404|
|Charitable
activities|||||
|Grants to institutions|||76,824|292,772|
|Grants to individuals|||36,702|37,305|
||||113,526|330,077|
|Support costs|||||
|Management|||||
|Sundries|||10|41|
|Governance costs|||||
|Independent
examiners||fee|1,540|1,404|
|Insurance|||935||
||||2,475|1,404|
|Total resources expended|||165,609|382,926|
|Net income/(expenditure)||before gains|||
|and losses|||9,860|(220,080)|
|||31.8.22|31.8.21|
|---|---|---|---|
|||8||
|Realised recognised|gains and losses|||
|Realised gains/(losses)|on investments|(461,802)|770,811|
|Net (expenditure)/income||~451,942)|550,731|