The Clitheroe Royal Grammar School Foundation
Charitable Incorporated Organisation
Annual Report and Financial Statements
Year ended 31 August 2024
Charity Registration Number: 1174177

Clitheroe Royal Grammar School Foundation
Contents
Reference and Administrative Details
Trustees, Report
1. Structure, Govemance and Management
1.1 Constitution
1.2 Trustees
1.3 Goveman
1.4 Connected Organisation
2. Public Benefft
3. Financial review
3.1 Nature of the Foundation's Assets
3.2 Investment Policy & Perfo￿nanCe
3.3 Reserves Policy
3.4 Identification of Major Risks
4. Objectrves and Activities
5. Achievements and Performance
5.1 Payments to C11ther￿ Royal Grammar School
5.2 Payments to Students and Parents
6. FLrture Plans
7. Trustees Responsibilities in relation to the Finan￿ Statements
8. Accounts
Independent Examiners, Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statement. incorporating:
ststement of Accounting Policies
Other Notes to the Financial Statements
10-18

Reference and Administratlv6 Detalls
Trustees
Dr A D cla￿On - Chainnan IAppThnted Tnistee)
Mr J Evans {App￿nted Trustee)
Mrs J S Hart (App￿nted Truste8- resigned 25 September 2024)
Mr A Hawkins (CRGS Parent Govemots Nom. Tn￿lee)
Mr S G Isherwood (App￿nted Trustee)
Mr O Nowell (App￿nted Truste8)
Mr A Rogers (Apwnted Trustee)
Mr J S Sutton IApwnl8d Truslee)
Ms R Lane (App￿nted Trustee- 15 November 2023)
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 Smilh Ltd
Suites 5 & 6 The Prin￿OrkS
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9wB
Bankers
Santander UK plc
Business Banking
Bridle Road
Bootle
L30 4GB
Handelsbanken PLC
3 Thomas More Square
London
E1W 1WY
Investment Advisers
JMFinn&Co
4 Coleman Street
London
EC2R STA
Solicitors
Forbes
Rutherford House
4 Wellington Street {St John's)
BLackburn
BB18DD
Pa9e 1

Trustees, Report
The Trustees present their annual report together with the financial statements and examiners, report
of the Clitheroe Royal Grammar School Foundation (the'Foundation") for the year ended 31 August
2024.
l. Structure Governance and Management
1.1. Constitution:
The Clitheroe Royal Grammar School Foundation is a Charitable Incorporated Organisation,
registered charity; No. 1174177 (England and Wales)
The Foundation is govemed by:
The Constitution of the Clitheroe Royal Grammar School Foundation. approved by the
Charity Commission on 8 August 2017
1.2. Trustees:
The Foundation's Constitution states that there shall be no less than five and no more than
eight Appointed Trustees together with two Nominated Trustees. One of the Nominated
Trustees is to be nominated by the Parent Governors of Clitheroe Royal Grammar School
(CRGS) and the other by the Ribble Valley Borough Council (RVBC}.
As of the date of this report, the Board of Trustees is made up of seven Appointed Trustees
and one Nominated Trustee. cU￿entlY the position of the Nominated Trustee by RVBC is
vacant. This is because RVBC have informed the Trustees, that as a result of a change in
policy. they are no longer nominating trustees fortypes of organisations like the Foundation.
The Trustees are currently considering how to address this matter.
Details of the Trustees of the Foundation who served throughout the year and up to the date
of this report. except as noted, are included in the Reference and Administrative Details on
Page1.
None of the Trustees listed on Page 1 received remuneration or any expenses for the time
spent on affairs of the Foundation.
1.3. Governance:
The Trustees have resolved to meet at least three times each year. The pU￿oSe of these
meetings is to receive reports; to oversee. recommend and approve the payment of grants;
to monitor the Foundation's investment performance in light of appropriate professional
advice; and. to receive and approve the Foundation's accounts and reports detailing the
current financial position of the Foundation.
During the year under review the Trustees met on 27 September 2023. 15 November 2023,
21 February 2024 and 15 May 2024.
1.4. Connected Organisation and Related Party Relationships:
The School of the Charity is Clitheroe Royal Grammar School (the 'School"}, a selective 11
to 16 grammar school {'Main School") with an open access sixth form ("Sixth Form").
Clitheroe Royal Grammar School has academy status and, as such, is a company limited
by guarantee (No. 07461173) and an exempt charity. The principal activty of Clitheroe Royal
Page 2

Grammar School is to provide a qualty, free education for young people, aged 11 to 19,
who live in the area local to the School.
The trustees of the Clitheroe Royal Grammar School Foundation hold on trust funds and
investments that represent the current value of donations and endowments that have been
made over the years since the founding of the School, and in particular its original
endowment, which was granted on 29 August 1554 by Letters Patent of Queen Mary. These
funds were held on trust under the terms of a Board of Education Scheme of 1906 until the
predecessor of the current CIO. an unincorporated trust of the same name, came into being
in 1966.
While the School and its Foundation both exist to further the education of the students at
Clitheroe Royal Grammar School, the two separate charities do this in distinctly different
ways.
Importantly, the Governors of Clitheroe Royal Grammar School have no influence in the
decisions made by the Trustees of the Clitheroe Royal Grammar School Foundation.
Under the Articles of Association of Clitheroe Royal Grammar School. the trustees of the
Clitheroe Royal Grammar School Foundation have the right to appoint up to five Foundation
Governors of the School.
2. Public Benefit:
The Foundation has complied with the duty (set out in section 4 of the Charities Act 2011) to
have due regard to public benefit guidance published by the Charity Commission. The
Foundation exists to support the educational work of Clitheroe Royal Grammar School by fulfilling
the following objects:
1. Providing for the School such special benefrts of any kind not normally provided by
governmental or other public funds or provided as part of the normal running costs of the
School as may from time to time be agreed between the School's Governors and the
charity trustees
2. Otherwise promoting the education (including social and physical training) of persons
who are pupils of the School, or fomier such pupils under the age of 25 years, who are
in need of financial assistance.
In the event that the School is discontinued. and the above objects can therefore no longer be
achieved, then the object of the charity shall be to promote the education of persons under the
age of 25 years who are resident in the Ribble Valley Borough Council district and in need of
financial assistance.
3. Financial Review:
3.1. Nature of the Foundation's Assets
The greater majority (currently approximately 90%) of the invested assets make up the
Pemianent Endowment of Clitheroe Royal Grammar School. These assets are held on trust by
the Foundation The nature of this endowment. which was originally set up in 1554 'Yo be and to
last forever" means that the current Trustees. in common with their predecessors over the past
nturies. have no powers to spend any of these fvnds without an Order of the Charity
Commission. Disposal of any permanent endowment assets can only be done to increase the
value of the endowment through the subsequent re-investment of the funds raised.
Page 3

The Trustees do, however, have a statutory duty to apply the net income derived from the
permanent endowment solely in accordance with the objects of the charity as defined in Section
2 above.
3.2. Investment Policy and Performance:
The majority of the Foundation's funds are invested in a portfolio of quoted securities managed
on a discretionary basis by the Foundation's investment advisers. J M Finn & Co. and monitored
by the Trustees.
The investment policy is to achieve a reasonable rate of return in the context of an acceptable
risk from a diverse portfolio, whilst maintaining or increasing the value of the invested funds in
real terms.
The value of the portfolio as at 31 August 2024 was £5,553,055. This represents an increase in
the capital of 9.01 % compared to the value the year before of £5,093,304. During this period. the
equity market as measured by the FTSE All Share Index gained 12.740/0 whilst fixed interest
securities as measured by the FTSE UK All Gilts index recovered 3.84%. Overall. the
performance was slightly behind the composite benchmark with 9.67 % . This was due to stock
selection amongst the UK equities. The income from the portfolio rose 10.61 % to £173,789, a
yield of 3.13%.
Inflation, which a year ago was rising at a rate of 6.70 % . has fallen significantly, down to 2.20 % .
This was partly a result of the higher interest rates imposed by global central banks but mainly
due to falls in the prices of gas and wheat that spiked following the invasion of Ukraine. Since
last October, the financial markets have been rallying in anticipation of lower interest rates both
here and abroad. The Europeans moved first in June. the Bank of England followed in July and
the US Federal Reserve finally joined the throng in September.
Investments in three companies, Prudential, Diageo and Reckitt Benckiser were responsible for
holding back the returns from the UK equities. In each case they are being retained for their
recovery potential. At the other extreme, we enjoyed excellent gains from the holdings of
Experian, Greggs and especially CRH which has moved its primary listing to New York.
Steady economic growth together with falling inflation and lower interest rates are all conducive
to gains for the financial markets but the portfolio is relatively defensively positioned in case of a
surprise recession in 2025.
Additional income is received from the letting of various land and property. In the year ended 31
August 2024 the gross income received amounted to £21.254 compared to £16.850 in the
previous year.
3.3. Reserves Policy:
The Trustees recognise that a significant amount of their expenditure takes place in the first
couple of months of the Foundation's financial year (i.e. the academic year). To account for this
it is the policy of the Trustees to maintain year-end total balances in the Foundation's bank
accounts at a level that is be￿een half and one year's annual expenditure taken as an average
of the previous three years. It is considered that this provides sufficient funds to cover
management. administrative and support costs as well as being able to respond to applications
for grants as and when they arise.
Page 4

3.4. Identification of Major Risks:
The Trustees consider the variability of investment retums on the Foundation's funds to
constitute the charity's major risk. The Trustees have responded to this perceived risk by taking
appropriate professional advice and by diversrfying the Foundation's investments in accordance
with such advice.
4. Objectlves and Activities:
The aims and objectives of the Clitheroe Royal Grammar School Foundation are to advance the
education of its beneficiaries. namely the students and former students of Clitheroe Royal
Grammar School.
The charity seeks to meet its objectives by making grants to the School. and to cu￿ent and recent
students.
In the longer term the charity aims to fulfill its obligations to its beneficiaries by maintaining and
increasing the value of the Foundation's endowment. as far as possible, for the benefrt of future
generations of Clitheroe Royal Grammar School students.
5. Achiovoments and Performance:
5.1. Payments to Clitheroe Royal Grammar School
During the year the Trustees made payments to the School of £45.975 to fund items such
as additional equipment and support for activities of the students.
5.2. Payments to Students and Parents
During the year Foundation Grants totaling £16.755 were awarded to the parents of students
at Main School to assist with the necessary expenses associated with these students,
education during the academic year. These grants were subject to a means test set by the
Trustees.
During the year donations were received in respect of the Sanderson Bursary, the Thomas
and Myra Ryan Science Awards and the Emerson Holmes award. During the year the
Foundation made grants to former Sixth Form Year 13 students totaling £4,255 in respect
of these.
Also during the year the Trustees awarded scholarships, totaling £12,000 to former Sixth
Form Year 13 students in recognition of their outstanding success in their A Level
examinations. In addition payments totaling £8.105 were made in respect of various other
bursaries and prizes.
6. Future Plans:
During the year, the Trustees have continued to work with a local firm of planning consultants
and commercial propety agents (specialising in residential land) to obtain planning consent and
subsequently market 13 acres of land at Highmoor Farm. Clitheroe. This area of land was
included in the Ribble Valley Borough Council's (RVBC) list of preferred sites for new housing
development in July 2018. a listing subsequently confirmed by the Government's Planning
Inspectorate early in 2019. A planning application was submitted in early 2021 and on 8 February
Page 5

2023 outline planning pemiission was received from RVBC. This permission contained a number
of conditions and discussions are continuing with RVBC in particular regarding access to the
proposed development site. It is hoped these will be finalised in the near future.
7. Trustees. Responslblllties in relation to the Financlal Statements:
Law applicable to charities in England and Wales requires Trustees to prepare financial
statements for each financial year that give a true and fair view of the charity's financial activities
during the year and of its financial position at the end of the year. In preparing these financial
statements, the Trustees have been aware of their obligations to:
Select suitable accounting policies and then apply them consistently-
Make judgments and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice
have been followed subject to any departures disclosed and explained in the financial
statements., and
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume the charity will continue in business.
and have complied with them.
8. Accounts:
The Twstees confimi that the accounts comply with:
Statutory requirements
The governing documents
The statement of recommended practice "Accounting and Reporting by Charities. issued
in 2005
The Trustees are responsible for keeping accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable it to ensure that the financial
statements comply with the Charities Act 1993. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the Trustees of the Foundation on
GFJ>
And signed on its behalf by".
Dr Andrew David Clayton
Chairman
Page 6

Independent Examiner's Report to the Trustees of
The Clitheroe Royal Grammar School
Foundation
Independent examiner's report to the trustees of The Clitheroe Royal Grammar School Foundatlon
I report to the charity trustees on my examination of the accounts of Th8 Clitheroa Royal Grammar School
Foundation (the Trust) for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 {'the Ad,).
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in
carrying out my examination I have followed all applicable Directions given by the Charity Commission under
Section 145{5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as required by Section 130 of the Act., or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts sel out in the Charities (Accounts 8nd Reports) Regulations 2008 other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination.
I have no Concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Mrs A M Smiih
Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The PrIn￿orkS
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9VVB
Date..
Ir
Page 7

The Clitheroe Royal Grammar School
Foundation
Statement of Financial Activities
for the Year Ended 31 August 2024
31.8.24
Total
funds
31.8.23
Totsl
funds
Unrestricted Endowment
fund
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,485
4,485
4,621
Investment income
other income
198,639
208
198,639
208
175,037
1,647
Total
203,332
203,332
181,305
EXPENDITURE ON
Raising funds
23,393
17,984
41,377
54,204
Charitable activities
Grant Making
87,090
87,090
112,943
Other
4,883
4,883
2,335
Total
115,366
17,984
133,350
169,482
Net gainsl(losses) on investments
31,134
447,851
478,985
44,709)
NET INCOMEI(EXPENDITUREI
119.100
429,867
548,967
(32,886)
RECONCILIATION OF FUNDS
Total funds brought forward
602,403
5,379.976
5,982,379
6,015.265
TOTAL FUNDS CARRIED FORWARD
721,503
5,809,843
6,531,346
5,982,379
The notes form part of these financial statements
Page 8

The Clitheroe Royal Grammar School
Foundation
Balance Sheet
31 August 2024
31.8.24
Total
funds
31.8.23
Total
funds
Unrestricted Endowment
fund
fund
Notes
FIXED ASSETS
Investments
Investments
Inveslment property
360,949
5,192,106
617,737
5,553,055
617,737
5,093,304
617,737
360,949
5,809,843
6,170,792
5,711,041
CURRENT ASSETS
Debtors
Cash at bank
7,627
356.936
7.627
356,936
12.500
263,282
364.563
364,563
275,782
CREDITORS
Amounts falling due within one year
(4,009)
(4,009)
(4.444)
NET CURRENT ASSETS
360,554
360,554
271,338
TOTALASSETS LESS CURRENT
LIABILITIES
721,503
5,809,843
6,531,346
5,982,379
NET ASSETS
721,503
5,809,843
6,531,346
5,982,379
FUNDS
Unrestricted funds
Endowment funds
10
721,503
5,809,843
602,403
5,379,976
TOTAL FUNDS
6,531,346
5,982,379
The financial statements were approved by the Board of Trustees and authorised for issue on
Zo&Snd were signed on its behalf by..
A Clayton - Trustee
The notes form part of these financial statements
Page g

The Clitheroe Royal Grammar School
Foundation
Notes to the Financlal Statements
for the Year Ended 31 August 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities:
statement of Recommended Practice applicable to charities preparing their a¢¢ounts in a¢¢ordan¢e
with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements
have been prepared under the historical cost convention, with the exception of investments which are
included at market valu8, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that Ihe income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure. it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at th8 year ènd date are noted as a
commitment but not accrued as expenditure.
Investment property
Investment propety is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in the Statement of Financtal Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Page 10
continued...

The Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - continued
forthe Year Ended 31 August 2024
INVESTMENT INCOME
31.8.24
31.8.23
Rents received
Investment income
Deposit account interest
21,254
173,789
3,596
16,850
157,119
1.068
198,639
175,037
RAISING FUNDS
Investment management costs
31.8.24
31.8.23
Portfolio management fees
Propety repairs
Legal and professional fees
Rates and water
Insurance
Light and heat
Security
19,234
6,950
5,146
1,712
1,293
205
6,837
18,646
9,806
3,793
1,828
1,264
158
18,709
41,3TI
54,204
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration for the year ended 31 August 2024. Two Trustees were taken
for a meal by JM Finn, the company managing the charity's investment portfolio. Although the actual
cost benefit of the meal is not known, each Trustee donated £40 to the charity to negate any personal
gain they may have received from the meal.
There were no trustees, remuneration or benefits for the year ended 31 August 2023.
Trustees. expenses
There were no trustees, expenses paid nor reimbursed for the year ended 31 August 2024.
Out-of-pocket expenses reimbursed to trustees in the year ended 31 August 2023 were as follows.
Repairs and renewable resources
40
Page 11
continued...

The Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - contlnued
forthe Year Ended 31 August 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Endo￿nent
fund
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,621
4,621
Investment income
other income
175,037
1.647
175,037
1,647
Total
181,305
181,305
EXPENDITURE ON
Raising funds
36,770
17,434
54,204
Charltable actlvltles
Grant Making
112,943
112,943
Other
2,335
2,335
Total
152,048
17,434
169,482
Net gainsl{losses) on investments
2,9061
41,803)
44,709)
NET INCOMEI{EXPENDITURE)
26,351
(59,237)
(32,886)
RECONCILIATION OF FUNDS
Total funds brought fO￿ard
576,052
5,439,213
6,015,265
TOTAL FUNDS CARRIED FORWARD
602,403
5,379,976
5,982,379
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1 September 2023
Revaluations
5,093,304
459.751
At 31 August 2024
5,553,055
NET BOOK VALUE
At 31 August 2024
5,553,055
At 31 August 2023
5,093,304
Page 12
continued...

Tho Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
FIXED ASSET INVESTMENTS - contSnued
31.8.23
Market
Value
31.8.23
Market
Value
ASSET TYPE
Fixed Interest
UK Bonds
Overseas Bonds
Equities & Funds
UK
North America
Europe
Asia Ex Japan
Global
Global Themed
Emerging Markets
Alternatives
Cash
Accrued Interest
1,288,191
1,210,282
1,865,098
386,595
516.053
317,339
577,675
165,600
68,700
341.359
20.579
5,866
1,846,584
184,391
460,614
291,599
509,425
137,120
66,562
222.165
159,352
5,210
Total
5,553,055
5,093,304
Page 13
continued...

The Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
INVESTMENT PROPERff
FAIR VALUE
At 1 September 2023
and 31 August 2024
617,737
NET BOOK VALUE
At 31 August 2024
617.737
At 31 August 2023
617,737
Investment property comprises of land and buildings at Highmoor Farm valued by the trustees in
February 2018 on transfer to the charitable incorporated organisation plus improvement expenditure
incurred since totalling £395,855 plus 2 Highmoor Park at cost in March 2019 of £221.882.
The trustees are satisfied that the current fair value is not materially different from the value included
in the accounts.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24
31.8.23
Trade debtors
VAT
Prepayments
7,520
107
11,827
546
127
7,627
12,500
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24
31.8.23
Trade creditors
Other creditors
621
3,388
3TT
4,067
4,009
10.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.8.24
At 1.9.23
Unrestricted funds
General fund
602,403
119,100
721,503
Endowment funds
Endowment
5,379,976
429,867
5,809,843
TOTAL FUNDS
5,982,379
548,967
6,531,346
Page 14
continued...

The Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Incoming
resour¢es
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
203.332
(115,366)
31,134
119,100
Endowment funds
Endowment
(17,984)
447,851
429,867
TOTAL FUNDS
203,332
133,350)
478,985
548,967
Comparatlves for mov•m•nt in funds
Net
movement
in funds
At
31.8.23
At 1.9.22
Unrestricted funds
General fund
576,052
26,351
602,403
Endowment funds
Endowment
5,439,213
(59,237) 5,379.976
TOTAL FUNDS
6.015,265
32,886)
5,982.379
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and Movement
losses
in funds
Unrestricted funds
General fund
181,305
(152,048)
(2.906)
26,351
Endowment funds
Endowment
{17,434}
(41,803)
(59,237)
TOTAL FUNDS
181,305
169,482)
44.709)
32,886)
Page 15
Continued...

The Clitheroe Royal Grammar School
Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.8.24
At 1.9.22
Unrestrlcted funds
General fund
576,052
145,451
721,503
Endowmènt funds
Endowment
5.439,213
370,630
5,809,843
TOTAL FUNDS
6.015,285
518,081
6.531,346
A Current year 12 months and prior year 12 months combined net movement in funds, included in the
above are as follows:
Incoming
resourcés
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fund
384,637
(267,414)
28,228
145,451
Endowment funds
Endowment
(35,418)
406,048
370,630
TOTAL FUNDS
384.637
302,832)
434,276
516,081
11. RELATED PARTY DISCLOSURES
There have been Grant Donation transactions to the related third party Clitheroe Royal Grammar
School for the year ended 31 August 2024. Both Grants to Institutions £45,975 and £3,605 of the
Grants to Individuals were transferred to Clitheroe Royal Grammar School. The reminder, £37,510 of
the Grants to Individuals were made directly to either students or their parents. A further breakdown
of these figurès is provided in paragraph 5.2 of the Trustees Annual Report.
Page 16

The Clitheroe Royal Grammar School
Foundation
Detailed Statement of Financial Activities
for tha Year Ended 31 August 2024
31.8.24
31.8.23
INCOME AND ENDOWMENTS
Donations and legacles
Donations
4,485
4,621
Investment income
Rents received
Investment income
Deposit account interest
21,254
173,789
3,596
16,850
157.119
1,068
198,639
175,037
Other income
Wayleave
Sale of Roof Slates
208
207
1,440
208
1,647
Total incoming resources
203,332
181,305
EXPENDITURE
Investment management costs
Portfolio management fees
Propety repairs
Legal and professional fees
Rates and water
Insurance
Light and heat
Security
19,234
6,950
5,146
1,712
1,293
205
6,837
18.646
9,806
3,793
1,828
1,264
158
18.709
41,377
54.204
Charitable activities
Grants to institLrtions
Grants to indtviduals
45,975
41,115
65,622
47,311
87,090
112.933
Support Costs
Management
Sundries
10
Governance costs
Independent examiners fee
Insurance
Clerk services
1,200
935
2,694
1.400
935
4,829
2,335
This page does not fonn part of the statutory financial statements
Page 17

The Clltheroe Royal Grammar School
Foundation
Detailed Statement of Financial Activities
for the Year Ended 31 August 2024
31.8.24
31.8.23
Totsl resources expended
133,350
169,482
Net income befo￿ galns and losses
69,982
11,823
Reallsed recognised gains and losses
Realised gainsl{losses) on investments
478,985
44,709)
Net incomel(expenditure)
548,967
32,886)
This page does not form part of the statutory financial ststements
Page 18