The Clitheroe Royal Grammar School Foundation
Charitable Incorporated Organisation
Annual Report and Financial Statements
Year ended 31 August 2025
Charlty Reglstration Number: 1174177

Clithero• Royal Grammar School Foundatlon
Contents
Referen￿ and Administrative Detsils
Trustees, Report
1. Structure, GovemancE and Management
1.1 ConstituticrÈ
1.2 Tru5tee8
1.3 Govemance
1.4 Connected ctrg8nisation
2. Publ￿ Ben8fft
3, Finartial review
3.1 Nature of lh8 Foundation's Assets
3.2 Investm6nt Polioy & Perfom)anc8
3.3 Reserves Policy
3.4 Identification of Major Risks
4. Objectiv85 and Aclivitses
5. Achievements and Perforniance
5.1 Paymgnts to Clitheroe Royal Grammar School
5.2 Payments to Sludents and Parents
6. Future Plans
7. Trustees ResFonsbi ililies In fftlation to the Finance Statements
8. Accx)unts
Independent Examiners, Report
Slatement of Fina￿la1 Activib85
Balarte Sheet
Notes to the Financial Statement. incorporating..
stst￿nt of Accounting Polic
Other Notes to ￿ Financial Statements
10-18

Refgroncg and Adrnlnlstratlve Dotails
Trustees
Dr A D Clayton- Chaimian {Wnled Tn￿lee}
Mr J Evans IA0p￿DIed Truste&)
Mrs J S Hart (ADPthrt&Y fnJst8è-rov￿d 25 S8pleftlw2024)
Mr A Hawkins {CRGSP&r8nl Goyerrhxs Tnth)
Mr S G IShe￿00d IWfr7ted TrusÈeeJ
Ms R Lane {App￿thed Tmslee J
Mr O Nowell (Appc¥rled Tru&ee)
Mr A Rogers I￿￿1 Trust88J
Mr J S Sutton IAppcNnÉ8d Trustee)
Mrs H Whitehead (￿nt￿ rn4sts&-8pp(wn16d24 Sept2024
Address for CorreS￿ndent6
Clitheroe Royal Grammar School Foundation
York Street
Clitheroe
Lancashire
BB7 2DJ
Charity Number
1174177
I￿ndent Examiner
Mrs A M Smith
Bennètt Kirkhope Smith Ltd
Suit88 5 & 6 The Printsvorks
Hey Road
Clithero&
Lan¢ashire
BB7 9WB
Bankers
Handelsbanken PLC
3 Thomas More Square
London
E1W 1WY
Investment Advisers
JMFlnn&Co
4 Coleman Street
London
EC2R STA
Solicitors
.Forb68
Rutherford House
4 Wellington Street (St John's)
Blackbum
BB18DD
Page 1

Trustees. Report
The Trustees present their annual report together with the financial ststements and examiners, report
of the Clitheroe Royal Grammar School Foundation (the'Foundation') for the year ended 31 August
2025.
1. Structure Governanu and mana￿ment
1.1. Constitutlon..
The Clitheroe Royal Grammar Sthool Foundation is a Charitable In¢ory)orated Organisation.
regislered charity: No. 1174177 (England and Wales)
The Foundation is govemed by:
The Constitution of lh8 Clitheroe Royal Grammar School Foundation, approved by the
Charity Commission on 8 August 2017
1.2. Trusteos:
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 b& nominated by the Parent Govemors of Clilheroe Royal Grammar School
(CRGS) arKI Ihe other by the Ribble Valley Borough Council (RVBC).
As of the date of this report, the Board of Trustees is made up of eight Appointed Trustees
and one Nominated Trustee. Currently the position of tha Nominated Trustee by RVBC is
vacant. This is because RVBC have infonned the Trustees, that as a result of a change in
policy. they are no longer nominaling trustees for types of organisations like the Foundation.
The Trustaes are currently considering how lo address Ihis matter.
Details of the Trustees of the Foundation who served throughout the year and up to the date
of this reFMJrt. except as rtoted. are induded in the Refer8n¢e and Administrative Details on
Page 1.
None of the Trustees listed on Page 1 received remuneration or any axpenses for the time
S￿nt on affairs of the Foundation.
1.3. Governance:
The Trustees have resolved to meet at least three time8 each year. The purpose of these
mèetings is to receive reports; to oversee. recommend and approve th8 payment of grants.
to monttor the Foundation's investrnent performance in light of appropriate professional
advice". and, to réceive and approve the Foundation's aGcounts and reports detailing th8
Current financial position of the Foundats'on.
During the year under review the Trustees met on 25 September 2024, 20 November 2024.
28 February 2025 and 14 May 2025.
1.4. Connectod Organisation and Rèlated Party Relatlonships:
The School of the Charity is Clithèroe Royal Grammar School {the °School"). a selective 11
10 16 grammar school ('Main School.) with an open access sixih form {"Sixlh Fom.).
Clitheroe Royal Grammar School has academy status and. 88 such. is a Company limited
by guarantee (No. 07461173) and an exempt charity. The principal activity of Clitheroe Royal
Page 2

Grammar School is lo provide a quality, free education for young people, aged 11 to 19,
who live in th8 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 endowfflents that hav8 been
made over the years since the founding of the School. and in particular its original
endowment. whith 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 sludents at
Clitheroe Royal Grammar School, the two separale charitie5 do this in distinclly drfferent
ways.
Importantly. the Governors of Clitheroe Royal Grammar School have no influence in the
decisions made by the Trusts8s of the Clltheroe Royal Grammar School Foundation.
Under the Articles of Association of Clitheroe Royal Grammar School, the trustees of the
Clithero8 Royal Grammar School Foundation have the rfght to appoint up to five Foundation
Govemors of the School.
2. Publlc Benofft:
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
th8 following objects:
1. ProvidirKJ for the School such special benefits of any kind not normally provtded by
govemmental or other public funds or provided as part of the nomial running ￿)StS of the
School as may from time to time be agreed between the School's Govemors and the
charity tnjstees
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 a88iStan¢e.
In the event that th8 School 15 discontinued, and the above objects can therefore no k)nger be
achieved, then the obi8Ct of the charity shall be to promote the education of persons under the
age of 25 years who are resldenl in the Ribble Valley Borough Council district and in need of
rinancial assistsnce.
3. Flnan¢ial Revlow:
3.1. Naturo of tho Foundatlon's Assats
The greater majorily (currently approximately goyo) of the invested assets make up the
Permanent Endowment of Clitheroe Royal Grammar School. These assets are held on trust by
the Foundation The nature of this endowmén( which was originally sgt up in 1554 70 be and to
last foreverf. means that the current Trustees, in common with their predecessors over the past
centuries, have no powers to spend any of these funds without an Order of the Charity
Commission. Disposal of any permanent endowment assels can only b8 done to increase the
value of Ihe endowment through the subsequent re-investment of the funds raised.
Page 3

Thè Trustees do. ho￿￿ver. have a statutory duty lo apply the net income derived from the
pemianent endovAnent solely in accordance with the objects of the charity as defined In Seth'on
2 above.
3.2. Investment Pollcy and Perfomiance:
The majority of the Foundation's funds are invested in a portfolio of qwt8d securities managed
on a discretionary basis by the Foundation's investment advisers, J M Finn & Co., and monIt￿d
by the Trustees.
The inveslmenl policy is to achieve a reasonable rate of relum in the context of an acceptable
risk from a diverse portfolio, whilst maintaining or increasing the valu8 Ot the invested funds in
real temis.
The value of the portfolio as at 31 August 2025 ¥￿$ £5,882,238. This represents an increase in
the capital of 5.92% compared to the value Ihe year before of £5,553,055. The Total Retum for
the y8ar, induding income, was 9.28%. For reference, the FfsE All Share Index produced
12.580A whilst the FTSE UK All Gilts index was a negative -1.87%. both on a total retum basis.
Overall. the performance was 1.OOQA ahead of the composite benchmark. This was due to the
allocations lowards UK equities and stock selection amongst the Ov8rs8as funds. Th8 incorne
from the portfolio improved slightly to £174,871, a yield of 2.96D/o.
Inflation, which a year ago was rising at a rate of 2.20%, has picked up again to a rate of 3.800/0.
This has limlted the scope for the Bank of England and other central banks to reduce rates but
despite Ihis, the UK Bank Rate dropp8d from 5.00% to 4.00%. Conversely. the yield on 10 year
Govemment stock increased from 3.970h to 4.70¥0 which meanl the price fell.
In a reversal of fortunes, Greggs was the worst perfomiing investment this year. The company
along with all other retailèrs was impacted by the increase in employers. National Insurance
liabilities and poor trading over tho warm summer. Fixed interest holdings detracted from the
overall return together ￿fjth "bond proxies. companies that act like bond investments such as
SSE and Land Securities together with Phannaceuticals which also had to contend with the
threal of tariffs.
At the other extreme. the largest contribution to r8tums came from the stake in SKittish Mortgage
Investment Trust thanks lo ils und8rling holdings of Space Ex, Amazon.com, Mela Platforms
{Fac*book) and Nvidia arnongst others. Companies With a China connection fared well including
HSBC, StsTrJard Chartered and Pwdential plus the Schroder Asia Pacific Trust. Modest
exposure to the gold price also helped as the m8tal moved from $2,493 to $3,431102.
Stèady economic growth together with lower Interest rates are conducive to gains for the financial
markets but the portfolio is still relatively defensivety positioned in case of an economic slowdown
or a bout of stagflation.
Additional income is reG8ived from the letting of various land and property. In the year ended 31
August 2025 the gross income received amounted to £22.786 compared to £21,254 in the
provious year.
3.3. Reserves Policy:
The Truslees recognise that a Signifi￿nI amount of their expenditure takes Pla￿ in the first
couple of months of the Foundation's financial year {i.e. th6 academic year). To a¢￿Unt for this
it is the pollGy of the Trustees lo maintain year*nd tolal balances in the Foundation's bank
Page 4

accounts al a level that is belween half and one yearfs annual expenditur8 taken as an average
of the previous three years. It is considered that this provides sufficient funds to cover
management, administrative and support o)sls as well as being able to respond to applications
for grants as and when they arise.
3A. Idèntification of Major Risks:
The Trustees consider the variability of investsnent returns on the Foundation's funds to
constitute the charity's major risk. The Trusteès have responded to this perceived risk by taking
appropriate professional advice and by diversifying the Foundation's investments in arxordancè
wtth such advice.
4. Objectives and Actlvltles:
The aims and objeclives of the Clitheroe Royal Grammar School Foundation are to advance the
education of its beneficiaries. namety the students and former students of Clithero8 Royal
Grammar School.
The charity seeks to meet its objectives by making grants to the School, end to Current and recent
students.
In the longer temi Ihe charity aims to fuEfiII its obligations to its bènèficiaries by maintaining and
increasing the value of the Foundab'on's endowment, as far as possible. for the benefit of future
generations of Clitheroe Royal Grammar School students.
5. Achlovom8nts arKI Perfomiance:
5.1. Payments to Clitheroo Royal Grammar School
During the year the Trustees made paymants to the School of £125,474 to fund items such
as additional 8quipment. improvement of kitchen facilities and support for activities of and
counselling for the students.
5.2. Payments to Studonts and Parnnts
During the year Foundation Grants totaling £17,510 ware awarded to the parents of students
at Main School to assist with the necessary expenses associated wrth these students,
edu¢ation during the acadamic year. These gr8nts were subject to a means lest 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 £6.750 in respect
of these.
Also during the year the Trustees awarded scholarships, totaling £9,900 to fomer Sixth
Form Year 13 sludenls in rewgnition of their outstsnding success in their A Level
examinations. In addition payments totsling £22,443 were made in respect of various other
bursaries and prizes including assistance for certain students about to start univérsity
Page 5

6. Futuro Plans:
During the year. the Trustees have continued to work with a k)cal firm of planning consultants
and Commercial property agents (specialising in residential land) to obtain planning consent and
subsequently market 13 acres of land at Highmoor Fami. Clitheroe. This area of land was
included in the Ribble Valley BoroLtgh Council's {RVBC) lisl of preferred sites for new housing
development in July 2018, a listing subsequently confimied by the Govemment's Planning
Inspectorate earty in 2019. A planning applicats'on was submitted in earfy 2021 and on 8 February
2023 outline planning permission was received from RVBC. This permission contained a number
of conditions and discussions are continuing with RVBC in particular regarding access to th6
proposed development site. 11 is hoped Ih8sè will be finalised in the near future.
7. Trust•es' R￿POnSIbl11110s in relation to th• Fin4n¢ial Statsments:
Law applicable to charities in England and Wales requires Trustees to prepare financial
statements for each financial year thal give a true and fair view of the charity's financial a¢tivilie3
during the year and of its financial position at the end of the year. In preparing these financial
statements. the Truste&s have been aware of their obligation5 10..
Select suitable ac¢ounting policies and then apply them consistently:
Mak8 judgments and estimates that are reasonable and prudent.,
Slate whether applicable accounting standards and statements of recommended practice
have been followed subJ8Ct to any departures disclosed and explained in the financial
statements. and
Prepare the financial statements on the going con￿rn basis unless it is inappropriate to
presume the charity will continue in business.
and have complied with them.
8. Accounts:
The Trustees wnfirm that the accounts cc*nply with:
Statutory requirements
The governing documents
The Accounting and R8POrtlng by Charities.. Ststement of Recommended Practice
applicab18 lo charities preparing their accounts in accordan￿ with th8 Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2019).
The Trusl8es are responsible for keeping accountlng records that disclos8 with reasonabl8
accuracy at any time the financial posilion of the charity and enable it to ensu￿ that the financial
statements comply with the Charities A¢t 1993. They arè also responsible for safeguarding lh8
assets of the charity and hence for taking reasonable sleps for the prevention and d8t8Ction of
fraud and other irregularities.
Approved by order of the Trustees of the Foundation on .
And signed on its behalf by:
Dr Andrew
Chairman
avid Clayton
Page 6

Independent Examlnerfs Report to the Trustees of
The Cllthoro• Royal Grdmmar School
Foundation
Independent oxamlnorfs report to the trustths of The Clltheroe Royal Grammar School Foundatlon
I report lo the Charity trustees on my examination of tho accounts of The Clitheroe Royal Grammar School
Foundatson (the Trust) for the year ended 31 August 2025.
Responsibilltits and basis of report
As the charity trustees of the Trust you are resp)nsible for the preparation of the accounts in accordan¢e
th the requirements of the Charities Act 20111'lhe Act,).
I report in ￿sPeCt of my examination of the Trusfs aco)unts carried out under Section 145 of the Act and in
carrying out my examinatKJn I have followed all applicable Directions given by the Chaity Commission under
Section 145(5)Ibl of the A¢t.
Ind•p•ndent èxamlnerfs statement
I have completed my examination. I confim that no material matters have come to my attention in
connection wtth the examlnation giving me cause to belleve that in any material ￿spect.
accounting records were not kept in respect of the Trust as required by Seclion 130 of the Act; or
Ihe accounts do not accord wlth those re￿rdS., or
the accounts do not comply with the applfrca￿e requirement$ concerning the form and content of
accounts set out In the Charltles {Accounts and Reports) Regulations 2008 other than any
requirement that the acccmjnts glve a Irue and fair view whlch 1$ not a maller considered as part of an
independent examlnatlon.
I have no con￿rn5 and have come across no other matters in connection wlth the examination to which
attention ¥hould be drawn in thls report in order to enable g proper underslanding of the accounts to be
reached.
Mrs A M Smrth
Bennett Kirkhope Smith
Chartered Certified Accountants
Suites S & 6 The PrIn￿rkS
Hey Road
Bamw
Clitheroe
Lancashire
BB7 9WB
Date..
Page 7

The Clltheroe Royal Grammar School
Foundatlon
Statwn•nt of Financial Activities
for tho Yèaf Endod 31 August 2025
31.8.25
Total
funds
31.8.24
Total
funds
unrestr￿ted Endovfflienl
fund
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and lewes
5.445
4,485
Investment i(￿Orne
other income
203,718
215
203,718
215
198,639
Total
209.378
209.378
203.332
EXPEN0￿uRE ON
Raising fvnds
25.662
18,850
44,512
41,377
Charltable actlvllles
Grant Making
182,077
182.077
87,090
Other
3.910
3,910
4.883
Total
211,649
18,850
230,499
133,350
Net gains on investments
22,707
326,637
349,344
478,985
NET INCOME
20,436
307,787
328,223
548,967
RECONCIUATION OF FUNDS
Total funds brought forward
721,503
5.809,843
6,531.346
5,982,379
TOTAL FUNDS CARRIED FORWARD
741,939
6,117,630
6,859,569
TIR notes form part of thes8 fin8nclal Statements
Page 8

Th• c11th•r￿ Royal Grammar School
Foundatlon
Balancg Sh88t
31 August 2025
31.8.25
Totsl
funds
31.8.24
Total
funds
Unrestricted Endowment
fund
fund
Notes
FIXED ASSETS
InvoStm•nts
Investments
Investment propety
382.345
5.499,893
617,737
5,882,238
617.737
5,553,055
617,737
382,345
6,117.630
6,499,975
6.170.792
CURRE￿ ASSErs
Debtors
Cash at bank
6,731
356,191
8,731
356,191
7,827
356,936
362,922
362,922
CREDITORS
Amounts falling due within year
(3,328)
{3,328}
{4,009)
NET CURRENT ASSETS
359,594
359,594
360,554
TOTAL ASs￿s LESS CURReKr
LIABILITES
741.939
6.117.630
6.859,569
6.531,346
NET ASSETS
741,939
6.117,630
6,859,569
6,531.346
FUNDS
Unrestricted fvnds
Endowment funds
10
741,939
6,117,630
721,503
5,809.843
TOTAL FUNDS
6 859,569
6,531.346
The financial Statements were approved by the Board of Trustees and authorised for Issue on
..￿..Its....... arml were signed on its behalf by..
A Clayton- T
slee
The notes form part of these finanryal statements
Page 9

Tho Cllth•roo Royal Grammar &hool
Foundatlon
Notes to th• Flnancial Statsmonts
for tho Year Ended 31 Augu$t 2025
ACGQUNTING POLICIES
Basls of preparing thg financial statements
The financial ststements of the tharity, which is a public ben8fil 9ntity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 1021 'Accounling and Reporting by Charilies..
Slalemenl of RecommerKled Practice applicable lo charities preparing their accounts in accordance
wilh the Flnanual Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
leffeGlive 1 January 20191,, Finanoial Reporting Standard 102 'The Financial Reporting Standard
applicable in th& UK aThJ Republlc of Ireland, and the ch￿118$ Act 2011. The financial statement5
have bgen prepared under the historical cost convention, wth the exception of investments which are
Induded at market valu8. as modified by the revaluatK>n of certain assets.
Incomo
All income is ￿ognISed in the Ststement of Financial Activities once the charity has entillemenl to the
fuThYs, it is Fxobable Ihat the income will be received and the amount Can bg measured reliably.
Expendituro
Liabilities are recognised as expenditure as sI￿n as there is a legal or constructNe oblwJalion
committing the charity lo that expenditure, il is probable thal 8 transfer of economic benefits will be
required in settlement and the amount of the obligation Gqn be measured reliably. Expenditure is
accoJJnted for on an accruals basis and has boon claSsi￿d under headings that aggregate all cost
related lo the category. Where costs ￿nn0t be directly attrI￿lted lo particular headings they have
been allocated to activrties on a basis con51Stenl with the use of resources.
Grants offer8d subject lo conditions which have not boen mel at the year end dale are noted as a
¢ommilment but not accnjed as expenditttre.
Investment propgrty
Investment propety is shown al mosl recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in the Slatemenl of FinancHI Aclivilies.
Taxatlon
The charity is exempt from tax on its charitsble actNitie8.
Fund aceountlng
Unrestricted funds can bo used in ac¢ordan¢8 with the oharftable objectives at the dlsGreUon of the
trusiees.
Restricted funds only be used for particular restricted purposes within the objects of the charity.
Restrictions arlse when specrfied by th& donor or when lunds are raised for particular restrthd
purposes.
Furth8r explanation of thè nature and purpose of each fund is included in the notes to the financial
statements.
Pag8 10
continued...

The Cllthoroè Royal Gr￿Mar School
Foundatlon
Notes to the Financial Statements- continued
for the Yw Ended 31 August 2025
INVESTMENT INCOME
31.8.25
31.8.24
Rents received
Investment income
Deposit accounl interest
22,786
174,871
6,061
21,254
173,789
3,596
203,718
198,639
RAISING FUNOS
Invostment manag8mont Gosts
31.8.25
31.8.24
Portfolio management fees
Pmperty repairs
Legal and professional f￿$
Rates and water
Insurance
Light and heat
Securlty
20,160
3.742
7,354
2,192
4.265
395
6.404
19,234
6,950
5.146
1.712
1.293
205
6,837
44.512
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees. remuneration or benefits for the year ended 31 August 2025.
There were no tru$lees' remuneration for the year ended 31 August 2024. Two Try￿teeS were taken
for a meal by JM Finn, the company managing the charity's investment portfolio. Athough the actual
cost benefit of the meal is not known. each Trustee don8t6d £40 to thè charity to negate any personal
gain they may have received from the meal.
Tru$toes' exponses
There were no trustees, expenses paid nor reimbursed for the year ended 31 August 2025.
There were no tru$lees' expens6s paid rmjr reimbursed for the year ended 31 August 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCJAL ACTIVITIES
Unrestricted Endowment
fund
fund
Total
nds
INCOME AND ENDOWMENTS FROM
Donat￿n5 and legacies
4,485
4,485
Investment income
Other income
198,639
208
198.639
208
Totsl
203.332
203.332
EXPENDITURE ON
Raising funds
23,393
17,984
41,377
Pag611
continued...

The Clitheroe Royal Grammar School
Foundatlon
Notes to the Financial sL￿ements . continued
for the Year Ended 31 August 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- Gonlinued
Unreslricled Endowment
fund
Total
fvnds
Charitable acllviti•s
Grant Making
8T,0￿)
87,0
Other
4.883
4,883
Totsl
115,366
17,984
133,350
Nel gains on investm6nts
31.134
447,851
478,985
NET INCOME
119,100
429,867
548,967
RECONCILIATION OF FUNDS
Total funds brought forward
802.403
5,379.976
5,982,379
TOTAL FUNDS CARRIED FORWARD
721.503
5,809 843
6.531,346
FLXED ASSEf INVESThIENTS
Listed
inveshments
MARKET VALUE
Al 1 September 2024
Revaluations
5.553,055
329,183
At 31 August 2025
5,882.238
NET BOOK VALUE
At 31 Augusl 2025
5.882,238
At 31 August 2024
5,553,055
Page 12
continued...

Tho Clltheroe Royal Grammar Sch¢K>I
Foundation
Notès to the Financial Statements - continued
for tho Y•ar Ended 31 August 2025
FIXED ASSET INVESTMENTS- continued
31.8.25
Market
Value
31.8.24
Market
Value
ASSEf TYPE
Fixod Interest
UK Bonds
Over$ea$ BorKIs
Equitigs & Funds
UK
North America
Europe
Asla Ex Japan
Global
Global Themed
Emerging Markets
Alternatlve8
Cash
Accrued Inl•re8t
1.231,833
1.288.191
1,929,540
412,683
556.609
385.820
625.935
219.600
74,850
410,654
28,793
5.921
1,865.098
386,595
516.053
371.339
577,675
165,600
68,700
341,359
20,579
Total
5,882 238
5,553 055
Pag8 13
continLred...

The Clltheroe Royal Grammar Sch(•ol
Foundatlon
Notes to tho Flnanclal Statomonts - continued
for the Year Ended 31 August 2025
INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2024
and 31 August 2025
617.737
BOOK VALUE
Al 31 August 2025
617,737
Al 31 August 2024
617.737
Investment proporty comprises of land and building5 at Highmoor Farm valued ty the trustees in
FebDJary 2018 on transfer to the charitable incorporated organisatlon plus improvement expenditure
incurred Sin￿ tol811ing £395,855 plus 2 Highmaor Park at cost in March 2019 of £221.883.
The trustees are satisfied that the current falr value is not materially dlfferent from the value induded
In the accounts.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.25
31.8.24
Trade debtors
VAT
6,618
113
7.520
107
6.731
7.627
CREDITORS: AMOLIKfs FALLING DUE WITHIN ONE YEAR
31.8.25
31.8.24
Trade creditors
Other credFtors
623
2.705
821
3,388
4,oog
10. MOVEMENT IN FUNDS
Net
movemént
in funds
At
31.8.25
Al 1.9.24
UnrestriGted funds
General fund
721,503
20.436
741.939
Endowmènt funds
Endowment
5.809,843
307,787
6,117,630
TOTAL FUNDS
328.223
6.859.569
Page 14
continued...

Tho Clithoroo Royal Grammar School
Foundatlon
Notos to the Financlal Statements - Gontinu•d
for th• Year Ended 31 August 2025
10. MOVEMENT IN FUNDS- ¢ontlnued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
vement
in funds
Unrgstri¢tod funds
General fund
209,378
1211.649)
T2,707
20,436
Endowmont fitnd•
Endowment
(18,850)
326,637
307,787
TOTAL FUNDS
209,378
230,499)
349,344
328,223
Comparntives for mov•mont in fund$
Nel
movement
in funds
At
31.8.24
At 1.923
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
Comparative nel movement in funds, included in the above are as follows:
Incomlng
Resources
Tesources
expended
Galns and
losses
Movement
in fund$
UnrestriGtsd funds
General fund
203,332
{115,3661
31,134
119,100
Endowment fund•
Endowment
(17,984)
447,851
429,867
TOTAL FUNDS
203,332
133 350)
478,985
548,967
Page 15
contlnued...

Tho Clltheroe Royal Grnmmar School
Foundatlon
Notu to th• FinanGlal Stat¢m•nts - contlnu¢d
for the Year End•d 31 August 2025
10.
MOVEMENT IN FUNDS- continued
A current year 12 months and prlc* year 12 months combined position is as follows..
Net
movement
in funds
At
31.8.25
At 1.9.23
UTrroStriGted funds
General fund
602,403
139,536
741,939
Endowment funds
Endowment
5,379,976
737,654
6,117.630
TOTAL FUNOS
5.982,379
877.19)
6,859.569
A current year 12 monlhs and prior year 12 months combined net movement in funds, included in the
above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
MoveFnent
in funds
Unrestrictsd funds
General fund
412.710
(327.0151
53,841
139,536
Endowment funds
Endowment
{36,8341
774,488
737,654
TOTAL FUNDS
412,710
1363.8491
828,329
877,19)
11. RELATED PARTY DISCLOSURES
There have been Grant Donation transactions lo the related thrd paty Clitheroe Royal Grammar
Schcrf)I for the year ended 31 August 2025. Both Granls to Instltulions £125,474 and £2 943 of the
Grants lo Individuals were tranSfer￿d to Clilheroe Royal Grammar School. The reminder £53.660 of
the Grants to Individuals were made directly lo either students or their parenls. A further breakdown
of these figures is prOV￿ed in paragraph 5.2 of the TfUStee8 Annual Report.
12. FLrruRE EXPENDrruRE
though not considered to be Designated Funds by Ihe Truslees a maximum amount of £210.IJXI
has been agreed in principal to be expended over the cx)ming years with regards lo a kitchen and
canteen development project al the secondary school site.
£30,453 was donated to the schod In the cuffent financial year, leavlng a potential £179,547 in
funding foi future stsges of the project. The tlme frarnes and total expenditure of the project are
unknown qUant￿les, which is why they have not been Specif￿allY designated in the accounts.
Page 16

Th• Clith•ro* Royal Grammar 8¢hool
Foundation
Detail8d Statement of Financial Activities
for the Y•ar Endad 31 August 2025
31.8.25
31.8.24
INCOME AND ENDOWMEpirs
Donatlons and 10gacies
Donations
5.445
4,485
Investment in¢ome
Rents ￿ceIVed
Investment income
Deposit ￿Count interest
22,786
174.871
6,061
21.254
173.789
3,596
203,718
198,639
Other In¢omo
Wayleave
215
208
Total In¢oming rmour
209,378
203,332
EXPENDrruRE
Investment manag•rn•nt costs
Portfolio management fees
Property repairs
Legal and professional fees
Rates and water
Insurance
Light and heat
Security
20,160
3,742
7,354
2,192
4,265
395
6,404
19,234
6,950
5,146
1.712
1.293
205
6.837
44,512
41.377
Charltablo actlvitlès
Grants to institutions
Gran15 to individuals
125,474
45.975
41,115
182,077
87.0
Support costs
Management
Sundries
307
Govornanc• costs
Irtdependenl examiners fee
Insurance
Clerk Services
1,320
795
1.488
935
2,694
3.603
4.829
Total resources expeJK1ed
230,499
133,350
Net1oxpenditure)fincome boforg galns
and losses
(21,121)
69,982
Thls page does not form part of the statulory ffinanclal ststements
Page 17

Tho Clitheroo Royal Grammar School
Foundation
Dètailed Statwnent of Fin•)cial ActlvitiOS
for th• Year Endod 31 August 2025
31.8.25
31.8.24
Realised recognised gains and lo$sès
Realised gainsl(losses} on investments
349,344
478,985
Net income
328,223
548,967
This page does not form part of the statutory financtal slalements
Page 18