2023-08-31-accounts - The Clitheroe Royal Grammar School Foundation

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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	ofFinancial Activities
Balance Sheet
Notes to the Financial Statement, incorporating:
Statement ofAccounting Policies
Other Notes to the Financial Statements

Reference	and Administrative	Details
Trustees		Dr A D Clayton - Chairman (Appointed MrJEvans (Appointed Trustee)				Trustee)
		Mra JSHart (Appointed	Trustee)
		MrA Hawkins (CRGSParent Governors Nom. Trustee-1 January 2023) MrSG Isherwood (Appointed Trustee) Mr0 Nowell (Appointed Trustee- 16November 2022)
		Mr A Rogers (Appointed MrJSSutton (Appointed	Trustee) Trustee)
		Ms R Lane (Appointed Trustee-			15November		2023)
Address for correspondence		Clitheroe Royal Grammar School Foundation
		York Street
		Clithe roe
		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 UK pic
		Business Banking
		Bridle Road
		8ootle
		L304GB
		Handelsbanken PLC
		3Thomas More Square
		London
		E1W 1WY
Investment	Advisers	J M Finn &Co
		4Coleman Street
		London
		EC2R 5TA
Solicitors		Forbes
		Rutherford House
		4Wellington Street (St John'		s)
		Blackburn
		BB18DD

				31.8.23	31.8.22
		Unrestricted	Endowment	Total	Total
		fund	fund	funds	funds
	Notes	F	6	E
FIXEDASSETS
Investments
Investments	6	331,065	4,762,239	5,093,304	5,156,659
Investment property	7		617,737	617,737	617,738
		331,065	5,379,976	5,711,041	5,774,397
CURRENT ASSETS
Debtors	8	12,500		12,500	11,006
Cash at bank		263,282		263,282	241,051
		275,782		275,782	252,057
CREDITORS
Amounts falling due within one year	9	(4,444)		(4,444)	(11,189)
NET CURRENT ASSETS		271,338		271,338	240 868
TOTAL ASSETSLESSCURRENT
LIABILITIES		602,403	5,379,976	5,982,379	6,015,265
NET ASSETS		602,403	5,379,976	5,982,379	6,015,265
FUNDS	10
Unrestricted funds				602,403	576,052
Endowment funds				5,379,976	5,439,213
TOTAL FUNDS				5,982,379	6,015,265

Out-of-pocket expenses	were r	eimbursed to trustees in 2022/23 as follows.
				f
Repairs and renewable	resources			46
COMPARATIVES FOR	THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Endowment	Total
		fund	fund	funds
			E	E
INCOME AND ENDOWMENTS		FRONI
Donations and legacies		3,635		3,635
Investment income		171,604		171,604
Other income		230		230
Total		175,469		476 466
EXPENDITURE ON
Raising funds		31,198	18,400	49,598

5.	COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES	- continued
			Unrestricted	Endowment	Total
			fund	fund	funds
					6
	Charitable activities
	Grant Making		113,536		113,536
	Other		2475		2475
	Total		147,209	18,400	165609
	Net gains/(losses)	on investments	~30,077)	~437,785)	~461,802)
	NET INCOME/(EXPENDITURE)		(1,757)	(450,185)	(451,942)
	RECONCILIATION	OF FUNDS
	Total funds brought	forward	577,809	5,889,398	6,467,207
	TOTAL FUNDS CARRIED FORWARD		576052	5430.213	6.016.265
6.	FIXEDASSETINVESTMENTS
					Listed
					investments
	MARKET VALUE
	At 1 September 2022 Revaluations				5,156,659 ~83355
	At 31August 2023				5,093,304
	NET BOOK VALUE
	At 31 August 2023				5,093,304
	At 31 August 2022				5 156650

Comparative	net movement in fu	nds, included in the abov	e are as follows	:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
			5
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)

A current yea	r 12months and prior year	12months combined position i	s as follows:
			Net
			movement	At
		At 1.9.21 f	in funds	31.8.23 6
Unrestricted	funds
General fund		577,809	24,594	602,403
Endowment	funds
Endowment		5,889,398	(509,422)	5,379,976
TOTAL FUNDS		6,467,207	~484.8284	6.982,379

			31.8.23	31.8.22
			E	F
INCOME AND ENDOWMENTS
Donations and legacies
Donations			4,621	3,635
Investment income
Rents received			16,850	16,550
Investment income			157,119	154,989
Deposit account interest			1,068	65
			175,037	171,604
Other income
Wayleave			1,647	230
Total incoming resources			181,305	175,469
EXPENDITURE
Investment management		costs
Poiffolio management	fees		18,646	19,679
Property repairs			9,806	1,577
Legal and professional	fees		3,793	2,368
Rates and water			1,828	1,751
Insurance			1,264	1,689
Light and heat			158	121
Security			18,709	22,413
			54,204	49,598
Charitable activities
Grants to institutions			65,622	76,824
Grants to individuals			47,311	36,702
			112,933	113,526
Support costs
Nlanagement
Sundries			10	10
Governance costs
Independent examiners fee			1,400	1,540
Insurance			935	935
			2,335	2,475
Totalresources expended			169,482	165,609
Net income before gains and losses			11,823	9,860