Charity Tcgi5trauon nuinber. 1180077
Bingley Grammar School Foundation CIO
Annual Report ind FitFancial Stat¢inents
for Ihe Year Ended 30 Septcmber 2024

Bingley Grammar School Foundation CIO
Contents {contlnued)
Referen¢¢ and Adfflinistrativc Detsi]s
TTU51ees' Repon
2to5
si8i¢in¢nt of Tntstees, ResponsibiliLI¢S
lrtdepeiideni Auditors, Report
7109
Siateincnt of Financi81 Aclivilies
Elalance SI￿¢[
Not¢5 lo thc Financial Sthtcmeni$
12 ti) 19

Bingley Grammar School Foundation CIO
Referente and Administrative Details
Charlty Regl$tr¥ilon Number
I]8￿77
Trustee$
C Quirto (Chair)
C Corlderson
A Cooke
P Frcar
B Filzpatrick
K Kcnnedy
J Proctor
G Brown
Seei'etgry
P H¢lyar
Audltor
Watson Buckle Lirnited
Stswiory Auditor & Clthrtered Actountattt5
York Hous¢
Rrndford
BD16 IPE
Sollcltorj
GordotLS
l New Au8UStus Stye¢L
Ilrndford
Wcsi Yorkshire
BDI 5LL
PrlnelpAI I)ffite
Bingley Grnmmar School
K¢iBhley Road
Bin8ley
Wesi Yorkshire
BD162RS
Page I

Bingley Gramm2r School Foundation CIO
Tru5te¢s' Report
The tru5¢ees pres¢ni Ihc annual report together with the fin#n¢i81 sialements and auditOTS' report of the ¢hariiy for the
year ended 30 September 2024.
Objectives and aetivili
Objecls uiidui1115
Binglcy Gl'ainnur Seknl Foutxtsiion CIO w&8 es(ablished on S (kiober 2018. The Iransfer of fi]nds and assets froin tlie
pirvious Charity WÈS totnple*d ai t1￿ ￿ginnIng of Febrvary 2019 ai which point the original FoundatioTh wjs wound
up.
The obj¢¢l$ of ilie CIO are..
I PToviding And Imainisinin8 for *hc School such special bcnefils of at)y kind no( nornully provided by goveTninenirtl or
otlier public fuDds 0$ part of ilie normal nJnnin8 costs of ihc School as may from til￿¢ to tim¢ be agreed between the
Scliool'5 Govcrning Body And th¢ ¢hariry ttwst¢¢&
J awarding of seholaTships. bursari¢s and m&intenan¢e allo￿nCeS witli ll preferet)ce for pewns resident in tjie prioTity
area of rlie Scliool and pcrsons who aitcnd die .8chool #nd live outside of tli¢ prioriiy arca of thc School, from time io
tinw, provided Iliai such ￿r$0￿5 are under ihe 98e of19 at)d in nccd of financial issislaTKY,'
l armi proinouon of¢ducation li￿oUsh the 8ivin8 of priz&4 ¢0 pupils aThJ fomKr pupils of thc School.
Major building work Coinmenced on the school site during Augu%1 2024, fiNI)c¢d by Mradford Metropolitan r)i5tricl
Council, And furtds from th¢ Foundation may be mede av*ilable for arty addiiionAI Work or equipl￿en¢ whicli Iniglit not
be available Ilirough Ihe projccl iL%elf. AS Ihe owneTS of (h¢ 18nd th¢ Foundation cxecuted a Licencc To occupy lo Ihe
Council in ¢ornJcciion with thi5 work as well as A le•s¢ to North¢rn Powcrgrid for the larger ¢lcciri¢al sub-station
i'equired to powcr tlic new building.
'I'hc Board has also fom)cd Ihree infonnal committees io ￿)rk on Property; Financ¢ and investmcnts: and School
LiAlSOn. These coiThnii¢ees r¢pon back to the Board rttommetwjauons for d¢cisions.
Piillle beiiefil
Truslce.% cotL%id¢r Ilial by supporlhng Ihe School irh ils work i]w 8re ¢omplying wi￿) their duty to lthve due Jtgord io tli¢
guidanc¢ on public bencfil published by die Chfyriiies Coinmission in cxercising their powers and duues.
The Tnjslecs coiifirm thAt they hav¢ ¢omplied with ihc requirements of section 17 of th¢ Chartlies Act 2011 to havc duc
r¢8aiYi to Ihc public benefÉt 8uid2nce published by ihc Charitics Commission for England and Wgles.
Page 2

Bingley Grammar School Foundation CIO
Trustees, Report (continued)
Strutture. governartee mgn#R¢ment
Nuliire ofgoveniliig doeiimeiil
The Inaxiinuin number of Tru51ee5 15 eleven athd th¢ minimuln fivc.
Currently the numbei in oifjce is eighi.
The Clerk Sup[￿)rtS the Trustees in an adniinistrative C*￿11y.
Trustees 1￿ce[ ron￿llY four times per year. Additional itheeitngs are Cothvened if tKC¢SSary.
Recriiirnieiil uiirf uppoiiiliiieiil of irii.$lees
Tlie Triistcc Reciwilineni Policy 1% lo be Teviewed ￿ rry and develop 8 procw of T¢cruith?cnt to attraci more Trustees
with appropriaie Skills &nd backgroW￿.
liidiictioii 4iid traliilng t>fir¥si¢es
Induction is carried oui by Ihe Ch8ir providit18 d¢tsils of the CIO consiÉiuiion. minutC5 of recent meelings, annual
accounis ind any orher salien¢ infomwlion.
Flnin¢lo1 r¢vl¢w
Policy on reserves
The mixtur¢ of ian8ibl¢ wets 2nd Stwk market investments gives a broad spread and redutts the risk to 8sscls held iTh
¢rusi.
£400.000 WH% LllVCSted in Ociober 2019 wilh Si James Plsc¢ at a 'low medium, levcl of i'isk. nic risk piy)filc lims been
sli8hily incrcased and funds inoved in¢0 lh¢ Sir8iC8i¢ Growrh Fund. A further rcview of the risk PTofile took place in
lale 2023 and the furmis moved 10 a with 2 hi8h¢r risk profile.
Fund5 coniinue lo be held wilh CCLA Black Rock as in prcviow year8.
In ih¢ present unccrtain economic climatt it is felt to be sensible lo rethin the invesU￿rIt in properly lo produec a net
invesimeni return similar lo that offered th￿Ugh tradiiion81 inveslmeni roui¢s and conlributing to the spread of
Investn￿nis.
Woodlicllds, the nunagillB agcnls, Iiave undertxk¢n 8 r¢view of the Suitabiliiy of individual propcrtie5 IS part of ¢lie
Foundalion portfolio And report thai all appear $uithbl¢.
Trusl¢c5 oiin w hold a minimum of one yCArs' rcnlal itthme in cash to allow for unforeseet) ¢ir¢uinstsnces. There 15 no
boi'rowing.
A Financial Managemcnt Policy and Reserves Policy were adopied in 2021 sre reviewed annually.
An annual budget is developed by th¢ tws*es and quartcrly rcyicws of financill perf0mmi￿¢ are
received.
Pagc 3

Bingley Grammar School Foundation CIO
Trustees, Report (conlinued)
Plans foi. future perlods
Ainis aiid key objeclivesforftsiiirtptriods
As indicated above m&jor buildirt8 work is being undertaken ot) site and itscome gerteraie41 by the of the
eharity Inay be used 10 support this proj¢ei If required.
Pi'operlies held by the b'ourtd2ilon
'I'hc iiivesiineni properties owned by the Foundation co¢npris¢:
tarbd 21 Longwood Avenue
87 Main Sirecl. Biiigley
89 Main,Stre¢t. Fjingley
91193 Main Stree¢ + 115 P&rk Road + Car Park
I Pfirk R08d- First floor
I Park Ro8d 2nd f]oor- Flii I
I Park Road - 2nd floor- Flai 2
I Park Road- 2nd floor- Flat I
9 Husfcild Street- Isl Floor Flat
I l Hi)sfeild Siree¢- 2nd Floor Flat
16 Old Main Si, Binglty
18 Old Main Si, Bingley
Sliay Gale, Wilsden
4. Kysliwortli Ave
7 Park Road. Ilingley
9-1 I Park Road. Hinglcy
115, FITiIAnnia Wharf. BitlBley
137, Briiannia WhaTf. ljingley
All propeitie5 were rcv8lucd during Au¢umrt 2023.
All prop¢rii¢s Ar¢ 8$ well mai¢Jtsincd as p)ssibl¢, given ihe age of some of them, and every effort is made to ensure (liat
tli¢ portfolio is fully let on an ongoing b8si$ 0¢ rntu.
The Found31ion &lso owns Bingley firnmmar S¢ho)l.
Page 4

Bingley Grammar School Foundation CIO
Trustees, Repor¢ (continued)
Risks Y4nd uncert#intit$
The Elobal pandemic had an impact on the I￿rfO￿narK¢ of the assets held by the Foundation both property and
invesin)eni but all values recovered well.
The economic uncertainty mentioned it) the October 2023 Tn]st¢¢s Rqmjrt continues ￿ impact the value of some Assets
but all invcstmcnt assets hav¢ i￿re&s¢d in valuc over the pst twelve months. However, long temi ImplJcation5 are
dhfficuli to quantify.
lllve511))ent aecounts are held Ihrou8h St. Jamcs Place. Black Rock and CCLA.
Tliese are long tenn irhvestsnents and i￿re 1$ no r¢qU1￿ment ￿ access these funds during the current period of financial
volatilitv.
Th¢ majoriry of the tangible as5ei portfolio is comprised of a mix of ￿mt)K￿l&l and r¢sideThtial properti&8. Niese are
Clcarly long tenn investments and again there is no requiraneni ￿ liquidal¢ ass¢L8.
The 5uilability of Ilie properties which comprise the portfolio hav¢ bcen rcvicwed by the new managing agents and ar¢
felt lo continue w be appropriate.
It 1$ no¢ fel¢ that i￿r¢ 15 any foreseeable threat io the ability of th¢ Foundation to continue to meet its financial
cominiiments, as sufficieni thnds ar¢ mairblained on curreni and deposii accounls widi B8r¢l&ys B8nk.
The FoundalLon will ilso be able to conlinu¢ to meel its obj¢¢tives in sup]K>rtin8 Bingley Grammar School and it5
cominunity
All Truok¢ ￿￿ting& itt th¢ ¢wr¢nt y¢or I￿ld rlt Binsley S¢h¢>ol.
The annual r¢port was approved by the In￿leeS of the charity on.................... and si8t*d on its behalf by..
C Quinn ICh8Lr)
Trustee
Page 5

Bingley Grammar School Foundation CIO
Statement of Trustees, Resp(bnsibilities
The ITUStce5 are responsible for weparing the tr￿stee5, rqjort and the financial sthteinents in aecordance with the United
Kingdoin Accounting Standards (United Kingdom Gcnerally Accepted Accounting Practice) and applicable law and
regulations.
The law applicable to charities requires the tslLSt¢es Lo prep8r¢ financial sthtements for each flnancial year wliich give a
true and fair view of Ihe state of affaiY8 of the Charity and of the it)comit)g resources and application of resource8 of ihe
charity for ihat period. In preparin8 t11￿ finatKial StsleMet)￿, the InLqtces ar¢ required ￿..
select sui¢able accour)ting policies aThJ then apply them consistendy.
observe the methods and principl&% irb the ChaTilics SORP 2019 IFRS 102):
Jnak¢ jud8¢m¢nts atNI ¢stimat¢s thai are reasonable at¥J prndeni:
slaic wh¢ih¢r applicable a¢counitng staThJards have be￿ follo¥￿1, subject lo at)y malerial depamwes disclosed And
explained in the financial sth¢ements: and
preparc the financial stsicJn¢nls on goit)g eot)cem blsis ut)less li is inappropriate lo presume ihe cliaiiry will
continue in business.
Tlie trnsites are responsible for keeping proper attouthiits8 records thai disclose wilh reasonablc tsccuraty &t any lime
the finlncial position of Ihe ehority ll[￿ eThable Ih¢in io ¢nsurc that the financial staicmcnts cojnply willi th¢ Cliariti¢s
Act 2011, Ili¢ Charili¢s IA¢counts &tKi Reports) Regulaiions 2008, 2nd t1￿ provisions of Ilie consiiN¢ion. ni¢ trustees
aL¢ also 1¢3POJ13Lblc for saf¢BuaLdiLl8 IIK 4)r ￿1¥ ¢lwAty •KI foi taki118 iU&01￿bl¢ a*p& ful t]1¢ yi¢v¢Lbtioii
and del¢¢tion of fraud and oth¢r irre8ularili¢s.
Approved by the tnL%ittS of the eharity on..........,......... #nd si8t*d ott its be￿lf by..
C Quinn IChAirl
TnJ$i¢e
Pagc 6

Bingley Grammar School Foundation CIO
Independent Audltor's Report to the Members of Bingley Grammar Sehool fioundation CIO
Oplnithn
We li#ve audited Ihc financial slaletnenis of Bingley Grainmar Sch(Kil Foundation CIO {Ihe'charI￿) for the yeai. ended
30 Sep(¢mber 2024. which comprise Ihe Staiemeni of FInar￿la1 AciÈvilies, Balan¢e Sh¢et, aixl Notes to die Financial
Sialcmenls. including 5ignific#r5t accounting policies. The fina￿101 rew>rting framewo￿ tliai has been Hpplied itt their
prepardtioti is applicable law and Unsied Kingdom Aeeouniing StaTthrds, coinprising ChBrilies SORP - FRS 102 The
Finan¢ial Reporling Siandord applicable in the UK and Republic of Ircland. applicable law (Uniod Kingdom
G¢nerally Accepted A¢couniing Pr&¢tic¢).
In our opinion tlie finan¢iAI $thtemenis:
givc a Irue and fair view of Ilie siale of th¢ charity's affair5 as A¢ 30 S¢p*mber 2024 and of its incoining rcsourccs
and application of resour¢¢s for th¢ ye4r then ended-
h&vc been properly PTepard in 8¢¢ordance with Uni¢¢d Kingdom Gen¢nlly Acctptrd Accoun¢in8 Pracii¢¢'. 8Thd
have b¢¢n prepared in Attoydince with th¢ Charitics Att 2011.
Ila81s for oplnlort
We ¢onducicd our audit in 8ccordan¢e wtih Intcrnalional Sthodird8 on Audiiing IUKI IISA5 IUKII and 8ppIic8ble law.
Our respon51bilities under thox standards are funlier describ¢d in ihe auditor rcspunsibilitl&8 for ilie dudil of Ilie
rin8ncial slal¢mcnL% section of our repon. We are IT￿epende1)I of the d￿rity in accoTd4nce with tl)¢ ¢iliical rcquiL'eineiilS
tliai Ri'e Telcvani ¢0 OUT audii of the financial staw))enis in the UK. including IIK FRC'S E(hiul Siandard. a>)d we hav¢
fuifillcd our oih¢r cihical Tespon5ibililies in a¢¢ord8n¢e wilh IlK5c fcquiTements. We beli¢v¢ tlial the audi¢ eviden¢e w¢
havc obiained is sufficient And aPPTopriate ￿ provid¢ a basis for our opinion.
Concluslon5 re14tlnp io %oln% concern
In audiiing th¢ finsn¢ial stalemenl.s. we have concluded that the iTU5*&8 use of goit)8 ￿nCern basis of aCCOUnfing in
t]Ic preparolion of ihe financiAI siaiemethis 1$ appWprLa￿.
ascd on th¢ work wc liavc pcrforitKd, we I￿ve noi idenlifjcd any illaterial un¢crt8it)ii¢s r¢laling 10 evenis or ¢ondi(Lons
tlth¢, individually or collectivclyi Imy us¢ si8nifi¢ani doubl on IIK cliarity's ability io coniinue as a goithg conc¢i'n for
period ofat Icast Iwelve inonih5 from when the ori8inal finarhcial siai¢inenLS w¢re aU(J￿rIStd for issue.
Our rcsw)nsibili(ies and the re5ponsibililies of thc twstecs with respect io going ￿nCern are de5cribcd in the relevant
Sections ol'this report.
()ther Informailon
Th¢ oilicr information ¢ompris¢$ Ihc infornuiion included i* the 8nnual report. other than ¢lk fin2n¢ial sl&teJncJits and
our auditor's report tjiereon. The truS￿eS are rcsponsible for ihe oilier infonnalion. Our opinion on Ilic finaiicial
81Oteinents doe5 t)ot ¢ov¢r the other inforniation alld. we do noi express any form of assurnnce ¢on¢lusion tliercort.
Our iupon5ibility is io read ttie odier inforination urbd, in doing so. eonsidcr wjieiher the otlicr iDfoni)alion is Jnalci'ially
in¢onsisteni WLth tli¢ fiNncial 51alcnKnls or our knowl¢d8e obtsiiied in the course of Ilie #udit or otlieiivisc appcar5 10
be maierially niisslaicd. Tf wc idenlify such material inconslSICIICI&S OT appareni Inaieiig111)isslaieinents, we aTe Tequir¢d
to delcriknin¢ wheiher (his gives rise lo a mil¢rial misslaiemcnt in tlic financial sth(wi*nls Il)emsclve5. If, bHs¢d on tlie
work we have perf0nr￿d. we conclude Ihat diere is a inaierial mi551atemeti( ofthis oiher infonnation, we are irquired lo
repoit that fact.
We hav¢ nothing to report in this r¢g2rd.
Pa8¢ 7

Bingley Grammar School Foundation CIO
Independent Audltor's Report to the Members of BinEley Grammar School Foundition CIO
(continued)
M*tters on which we are requirtd to report by e¥tepilon
Wc havc iiodiing 10 report in respcei of the following maUeTS in relation to whi¢h the chariu￿ (Accounts arml Reports)
Regulations 2008 require u5 to report 10 you if. it) ow opinioo."
th¢ infonnation given irh ihe Iruslees, report is inconsis¢¢nt in any Jnatcrial respect with the financial staleinenls. or
sufficient accoii*iirtg ¥ecord5 have noi k¢pi' or
the financial siaterncnts not in 8gr¢¢inent wilh Ihe aceountirbg records: or
we liave noi receivcd the informatio¢) and ¢xpJarthtion5 wc rcquire for oyr audiL
Regponsihilities of trustees
As cxplained more fully in th¢ St8*meni of Trustees, Rcsw)nsibililies Is¢r oui on page 6), t7￿ twstees are responsibl¢
foi. lh¢ pr¢para¢ion of thc financL81 slai¢m¢nis and for being saiisfied ih&t Iljey give a uue aiid fair view. and for sucli
inlenjal conirol ns Ilic ¢ruslees detenniTh¢ is n¢¢¢ssary 10 cnablc Ilie preparaiton of financifyl $twlements Iliat llre frce from
n￿tertaI n)issl8l¢tn¢ni, wheiher duc lo fraud or ¢rtor.
In prep8rin8 Ilie finAll¢iAI stmteincnls, Ihe tslLSl¢¢S are resw>nsiblc for asse&8inB tli¢ ¢lwiiy'$ 8bilily to coiiliiiue as
going conccrn, disclosing, As applicable. mailers related ￿ going concern aijd using the going Concern ba518 of
aecounling iinless Ilic iruskes ¢iiheT intend to liquidat¢ the ¢h&rity or ￿ cease operations, OT have no realistic alternative
but to do so.
Audltor R¢sponslbllltle$ for the audit of the Ilnon¢l*l $t*tementS
Our obj¢¢tives are lo obtain rusonAble assurnnee About whciher the finan¢i81 sthieim¢nts as a wlM)Ic gre fr¢¢ froin
11121eri81 missioicmeni. whether due ￿ fraud or error, and ￿ issue an auditor's r¢poTI that includcs OUT opiiiion.
R¢osonibl¢ 8uuran¢e is A high level of wurance, bui is not a guaraiiiee dial an audii conducied in accordance willi
I%A% IUK} will alw8ys dclcci a Inalcrial missth*m¢n¢ wlien it exists. Missta(emenis ¢8n arise fmii) fraud or eri'or and
arc coti%idtr¢d mslerial if, individually or in ihe 3B8T¢gai¢, Ihey could rcasonably bc exp¢¢led 10 iiiflucn¢e tlie ccoiiomic
dcci5ions of iLScrs (llken on the basi$ of ihc5c financial slatements.
IL'r¢gulllri¢ies, including Iraud. ar¢ Instin¢￿ of non-¢ompliancc willi atld regulations. We dcsign PlDccdures io lin¢
wiill our rtsponsibilitlC5. ouilined aly)ve, 10 delect Inalcrial E]iisslatctncnts in r¢$pect of srrcgularities. incl￿ding fi?ud.
'rii¢ ¢xteni 10 which our proccdurts are ¢2pable of dei¢¢ting irregularilics. including fraud is deiailcd below.
In pl8nnin8 and d¢si8nin8 our audil t￿¢5. we identify 8Thd Rss￿$ the risk5 of mi*rial Jnisstatem¢nt within the finAncial
S￿icnICnI5. wliciher due to frAud or error. OUT assessnxnl of these risk$ includcs considei'&(ion of tlK n3ttire of Ilic
industry and seclor. Ilie control environn)eni and Ihe business performan¢e along witli tlic iesults of our enquiries of
Inanagerneni, aix)ut Ihcir owl) id¢tttifi¢alion 8t￿ of (he risks (>f irregularities. Wc are also required to
perfoim specific procedures io rL%pond ¢0 Ihe risk of managenKnl ovcrrid
Pollowi118 iliis 8ssessn)eni we eollsidcred the opportunities 8nd irt¢¢n¢ivcs that Inay CXLSI WL(hin th¢ ¢h?rity for fraud and
idenlificd ilie 8reatesi wientibl for fraud in evaluaiing Iljc cash and bank balarKes and fLxed assels.
Wc a150 obtained an undcrslanding of the legal and regulatory fraineworks thai the charity opcrates En, Ihrougli
discv5S10115 Wjth ITU5te¢5 and o(lier inanrtgemen4 hnd froni our coinmcrci81 knowlalge 8nd cxpcriciicc of the scclor in
wliieh Ilie cliarity op¢rntes, lo ciiable us lo ideniify Ihe key 18w& And regulations appltcable lo ihe chArity. Wc focuscd
on specific law% and regu121ions which wc considcred may have a dir¢¢i ￿￿¢CrIal effeci on the financial 51si¢rn¢iits or
thc opci'ali011s of Ilie charity, tn¢luding Ihc aiariiie5 Aci 2011. the Conipanie5 Aei 2006, taxation le8is12tion, (ts
protcciion, anti-bribery. employm¢n(, ethViTOnTnen¢al and heal(li and saftty leg151ation.
Pagt S

Bingley Grammar Sehool Foundation CIO
Independent Auditor's Report to the Members of Bingley Grammar School &oundation CIO
(continued)
We (hert perfomied audit proccdurcs afkr consideration of the obove risks which in¢luded die followiTh8=
documenting artd assessing the internal controls overcash ar￿ bank balantts.
performiiig osis ofdetail on Ihe cash and bank balanc£5 and reconciliatsons-
evaliialing Ihe exisience. ownetship. and valuaiion of rjie fixed a￿lS Knveslment properties,.
evaluatin¥ the owneT5hip and vAluaiion of the fixed asset inveslineni portfolio.
eiiqiiiring of maiiagerncnt conccTning a¢ttul and poi¢niial liiigaiion and claims.
reviewing corrc5pondcncc with The Charity Commi&8ion and th¢ chariiys1¢8al advisors:
perfoijniiig analytical procedure5 10 idethiify any or unexp￿1¢￿ ￿latIonShipS that may indieate risks of
material misslalemenl to fTaud,'
rcading minute5 of meelings of Ihose charged 8ovemanc¢- Al￿-
in 8ddre&sing the risk of fTaud through tD8t)ag¢m¢Thi ov¢rride of ¢oniTols. ￿sLIng Ihe appropTiattJ)ess of journ81
entries and other adju5tn*nts, a&%essing wheih¢r th￿ judgements made in n18king accounting estinthtes 8r¢ irtdicativ¢
of a potcnlial biRs.' and C￿l￿aling ￿1¢ business raiionale of any signifieanl Irdnsaclioi)5 dial are unusual oi. outsid¢
Ilic nonmal course ofbusithess.
All cngagemen¢ members were infom)ed of the relevani law5 and regulations and poteniial fraud risks al tlie
planning $14g¢ and reminded ￿ r¢m8in al¢rt lo any indicaiions of fraud or non-COLnplian¢e with laws 8nd Tegulatioiis
¢h¥ouglioui Ihc iudit. Th¢ cn888¢meni partncT ensured Iliai ihe enga8emcni team colleciiv¢ly liad Ilie APPTOPTl8le
comp¢ien¢¢, ¢Apabiliti¢s at)d sktlls lo identify such items.
There 8re inhcrcnt liinitaiion5 in our audil procedures d¢KTibed Bbov¢. The nk)r¢ reinovcd that l*ws artd re8ulations 8r¢
froin fjnancial tran5aclion5, Ilic I￿ likely it 1$ th81 w¢ would bccoine awarc of non-coinpliaiicc. Auditing siand8rds also
limit Ilie Audit procedur￿ required to identify non-eotnpliance with laws arwj rc8ulati0l￿ lo enquiry of di¢ tru&te¢s and
otliei. n)anagemerti And Ihe inspeciion ofregulalory and Icgal COTfc5pondenee. if any.
MateriAI misslatem¢nl$ thal arise due to fraud can be harder to d¢wt than those ihal aris¢ from crror #s ihey may
involve deliberate con¢ealmenl or colliision.
A furtlier d¢Kripiion of our Tewiisibililies 15 available on the Finart¢ial Rcwrting Cou￿11,$ website It..
wwiv.(r¢.org.uklauditorsrespon51biliiies. Tlii5 descripiion fomis pirt of our audiior's r¢port.
Uso of rtiiort
This reporl is made solely io the Charity In151e¢s, 4$ a body. in a¢¢ordanc¢ willi Part 4 of Ihc Cl￿rI11¢S {Accounls and
Repoi1sI Rcgulg1ion5 2008. Our work has beer) undell&k¢n so th81 we mi8h( siaie 10 rjie charli￿5 trustccs Ih05e It)8iters
we are required 10 siaic io them in an auditors, rqy)n and for no oihcr purpose. To Ilic fullc51 cxtcnl pcnni¢ied by IHW,
we do not accept or assume re5w>n$ibility 10 anyonc othcr Ilian die chariiy and die charity5 InJSt¢es AS A budy, for our
audit wurk, for Iliis ￿pOli, or for the opinions we have fornicd.
aL£ickL
W8ison Buckle Limited
Siaiuioi'y Auditors & Chirtered Accounwnts
Brafoi'd
Date..
Page 9

Bingley Grammar School Foundatlon CIO
Statement of Fin9ncial Activities for the Year F.nded 30 September 2024
(Including Ineome ExpendÉture Account)
Unreslricted funds
Revaluation
reserve
Tolal
2024
Total
2023
General
Note
In¢tsmt And emdowmttht5 from
Donatiuns and legacics
Inv¢stm¢llts
Chariiab5¢ aciiviiies
.812.420
16.367
119,387
1.812,420
16,367
119,387
13,223
119,710
'rot41 income and endowrnents
.948.174
1.948,174
132,933
Expendllure
Raisin8 fvnds
{18,6621
145.790)
11.2051
145.790)
11.205}
(92.8161
Oilicr
l'0141 expendlture
1fifi.166)
66,166
(111,478
Net in¢on
I￿sSeS on revalu81ion of fixed asseis
crainsl10%￿ on invcslmeni assets
I.882.￿8
1,882,(M)8
21,455
104.769
104.769
21.89S
Net Imovement in funds
1,882,1)oit
104,769
1,986,777
11,142,961
Reeonclllthiloth of funds
Toial ￿rtd$ brought folward
Toial thnds ￿rri￿ foTvrard
2,S18,084 10,942.265 13,760,349
14,903.310
4.?￿.092 11.047,034 15.747,126
13,7(10,349
All of ¢he ¢hAriryS aciivities d¢rivc from continuing operaiions during the Above two periods.
The futKi$ breakdowryj is showryl in rK)te 14.
The notL% on page$ 12 10 19 forni an inie8rdl part of th￿¢ fiiian¢ial statel￿nts.
Page 10

Bingley Grammar School Foundation CIO
(Registratlon number: 1180077)
Balance Sheet as at 30 September 2024
2024
2023
Note
Fixed assets
Invcstnienls
10
15,588.339
13,673,695
Current #ssets
Debtors
Cash at bank and in hat
23,011
155.982
22,754
87,346
178.993
110,1
Credltors: Amounts f*lllhg due
20,200
23.440
Net eurrent aS5¢ts
158.787
86.654
Net
15.747.126
13,760,349
Fund5 of the th&rlty:
Unrestrl¢t¢d Income funds
G¢n¢ral ￿ndS
14
4.700,(&2
2,818,084
R¢valuatson reserve
14
11.047.034
10,942,265
TotAI fund&
Is
15.747 126
13,760,349
The financial stal¢ments on pages 10 ￿ 19 approved by the trusteA iuthorised for i5su¢ orb .................... afbd
Sl8ncd on their behalf by..
C Quinn Ichair)
Trustee
The notes on pages 12 10 19 fom) an iniegral part of thes¢ financial sthtell)Ents.
Page 11

Bingley Grammar School Foundation CIO
Notes t(k the Financial Statements for the Year Ended 30 September 2024
l Accounting policlts
StAtem¢nt of compliance
The finart¢ial siatetiients have bcen prepared in accordance with Accounting arml Rq)ortrng by ChaTi¢ies.. Sia¢inent of
Recolmn￿nded Practice applicablc to chariries preparlng their accounts in accordance willi the Financial Reporiing
Siandaiyl applicable in ihc UK and Rcpublic of Ireland IFRS 1021 (cffe¢(ive l January 20191- ICh8rities SORP IfRS
10211. Ilie Fiiiancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Cliarilics Act
2011.
B4119 of prepArstlon
'I'hc financial slalcnwnis liive been prepared on 8 going ¢on¢¢rn b￿lS Und￿ thc historical Cost convcn¢ion. modifled io
incliidc ¢eTiain items ai fair valuc.
'I'he charity'5 fun¢iioiiAI and pres¢t)ialiorb curf¢n¢y is pound steTlhn&
Exemptlon from prepArln% a tash now 5t*tement
The chArily opi¢d 10 adopt Bullciin I publhshed on 2 Febn]ary 2016 have therefoTe no¢ included a Cash flow
siatcincni in Ihcs¢ financial stat¢mcnl$.
-utsd Str￿£tUre
Unre%tricled incoine fund5 are general fimds ihi are ivaiiable for use ai ihe tr￿te¢s, discrelion in fijrtherance of il)c
objeelivc% of Ihe clilrity.
liicome
ItJcoJiie 15 recogrlised when the charity has eniiilement ￿ th¢ fijnds. any perf0m￿nc¢ conditions attaehcd to ¢Jie itei*lsl
of incoinc have been mei, 1¢ 1$ probable that the in¢om¢ will be received and Ihc ainounl can bc Inca5urcd rtliAbly.
D¢J¢rred liicoiNe
rjeferred income r¢law ￿ rents receivable in ad￿nCe.
Doiiuiedsei'vices uiidlacillrfes
Wliere service%, faciltlles or PTOPCrty devclopmcnls are Provided to the ¢liarily AS o donation thAt would nonnally be
purcliAsed froiii our supplicr5. thi5 bencfit is included in (JK fin•n¢isl $t8iem¢nts at it's fair valu¢ wiless il's fair valuc
¢8nnoi be realiably mca5urcd, Ihen ai Ihe cost ¢0 (he donoror ihe res8le v8lve of 8oods (l)al ar¢ to be sold.
liivestiiieiii liicome
Invt5111Knt inctsme is re¢ogrtis¢d on a re¢eivable b8$i$ and relaics lo bank intcrest incowK from listed investincnis.
Cliui'i1oblÈ lltiivitie
Income is ￿Ognised on a Teeeivable basis and relate5 to rent 1￿c￿ne froiii ¢he investsneni prO￿rry portfolio.
Expenditure
All cxpcnditUTe 15 Tecogni5cd on¢e there is o legal or ¢onstswclive obligation io iliat expenditUTC. It IS PTobable
seltScineTit is required and the atnount ¢3n be rn¢25ured reliably. All costs are allocated to the applicable expenditure
lieading Iliat aggregate similar tOsLs (O thai ca¢80ry. Where costs cannot be directly altribuled to pariicular lieadings
IIKY liave been allo¢aied on a ba%is consislen( willi ihe ￿￿¢ of resources. with central slaff costs allocated on Ilie basis of
lim¢ speni, amd deprectalion ch&rgG8 alloca*d on of the 8sseL'S use. Other supp)rt Costs are allocated based
on the spread of stsff costs.
Page 12

Bingley Grammar Sehool Foundation CIO
Notes to the Financial Statements for the Year F.nded 30 September 2024 {eontinued)
RNisiiigfiiiid5
Tliege are costs incurred in altracling volunthry itthnK the management of investJn¢nts 8nd those incurred in Irading
acliviiics t1￿1 raisc fiind5.
Cliarituble aclivilies
Chai'ilable cxpenditure COTnprises those costs incurred by the charity in I1￿ delivery of its ae(iVLties and services for its
beneficiaries. It includ¢5 both costs c8n b¢ allo￿ted directly lo such aciiyiiies and t1105C Costs of an indirect iJ8lure
neces%ary to support them.
CFiQiii expendiiiirt
Gi"arti$ ali given 1¢ $tud¢Dis in Brngley to aid with their 8NI fijrther their cduc4tion.
Dt>ffliAiioiisgiveii
Donlliions ar¢ 8iv¢n (o Bingley (irdmmar Sehool ￿ help old 2nd the education of ¢h¢ swdents as well as
Inaintain the school and su)Tounding gTounds.
Giwiilpjvvlsloiis
Provi%ions for grants 8re made wlien ihe inieniion io mak¢ a grani has bccn eommuniuted to Ili¢ recipient but therc is
un¢ertainty about either thc liming of the grani or the ainounl of grani payable.
Golng euncer
I'ljc trustees eonsidcr thai there ore no material ￿￿erlainI1cS at4Jui Ihe charitys ability lo ¢onthnue as & 80ing eoncem.
Support costs
Siipport costs includc Central fvn¢iion$ and hav¢ been alloca*d to activity COSI Cat¢gorie5 on a basis consisieni willi tli¢
iL8c (If i'esour¢¢s, for exsinplc. allouling pro[￿rtY costs by floor areas, or p¢r capits. slaff ¢osis by the ¢im¢ sp¢nl and
other cosis by their llsage.
Tgxatlon
'I'lic Chariiy 1$ ¢on$id¢rn4 to pass Ihc tcst5 Sel 0111 in Par8gr8ph I SclKdule 6 of the finance A¢t 2010 and tlierefore it
m¢¢l% Ihe defini(ion of 8 charilable company for UK ¢orpor8tion lax PUTPOSCS. AttoTdinBly, Ihe ¢h8rily 15 Potentially
ex¢mpl from laxaiion in respccl of irhcome or capiial 88ins r¢c¢ived withili catcgories ¢over¢d by Chapter 3 Pait I l of
Ihe Coiporation Tax Act 2010 or Section 256 of ihe Tax81ion of Chargeable G8ins Aci 1992. 10 Ilic exten¢ that such
incotne or gains are applied ¢x¢lusiv¢ly 10 dMTithble purposts.
Key wur¢es of utlmatlon uneert*lnty
Iinpairinertl of d¢biors
Thc ehority rt)akes an eslim8te of die r¢coverable valuc of tsade and other deblors. Wlien assessing (h¢ impairment of
ti'ade and oilicr d¢biors, mana8tmcThl considers fg¢ioTS which in¢ludc Ilie eurrenl credi¢ ra¢in8 of t]1¢ debtor. Ihc a8einB
profile of debtors and historical experience. The c4rryin8 amount is £1 1,129 {2023-£13,2201.
Investment propertles
Invcsliiienl property is carried at fair valuc, dcrived from th¢ curret)( MA￿ti pi'ices for coiiiparable real ¢s181e
dclcnnined annually. ExieTnal valuations arc r¢quii¢d every 5 years and valucrs usc observablc market prÉ¢es, 8djusied
if ncLewry foT any difference in the ￿2￿re, Iocaiion or corKliiiOn of the specific a5SCt. aianbys in fair value are
recognised in profil or loss.
Page 13

Bingley Grammar School Foundation CIO
otes to the Tr'lnancial Statements for the Year Ended 30 September 2024 (continued)
Fixed &58et Investmen1$
Fixed asset invesiimenls. other Ihatt programme relawl investments. are i￿l￿ded it Tnarket value 81 the balanc¢ slje¢i
date. Realised gains arld 105ses on invesimenis sre ¢#leulalcd as It￿ difference between sales PTocceds and t]ieir mark¢t
value at the siarl of the ycar. or tjieir subsequent ¢05L and are ¢I￿rged or crediied ￿ the Stalemenl of Trinan¢ial
Activities in the pei-iod of dispos81.
Unrealised gatns and Ios5¢s fepTe5ent Ili¢ movemeni in values duTing ihe year and 8rc ¢redited OT chaiEed to tlie
Siateinent of Financial Aciivities based on Ihe markel valuc at th¢ year end.
FinanclAI Instrumenis
Financial assets and financial liabilities are r￿O￿lsed kn the charity b¢¢On￿ 8 party lo the conitYCWo1 provisions of
Financial liabilitie5 and Cqility inslnjm¢nis ort Classified according to di¢ sUbS￿nCe of the eonlT&Ctu&l 8TI?nBcincni$
cii(er¢d into. An equity inslruinetll is atty ¢ontr8ct ihat evidences a residual in¢cresi in ilie asse(s of thc cliarity 8ft¢r
dcduciin8 all of 11$ IiAbilitics.
Recoxiiilioii uiidiNert&ii￿ememl
All financial 3ss¢is And liabililic5 are initially rneasur¢d at tra￿ction price {in¢ludiiig ITansaciion c05tsl. exccpi foi.
Ihosc financial 2ss¢1s clas%ifi¢d a5 at lair value throu8h profil or loss. whicli are iniiially iwsured al fair value Iwliicli 15
norinally Ilie ll'ansaciion pri¢¢ ¢x¢ludin¥ Irart5aclion cossl. Ilie arrangein¢ni eonslitules 8 finJncin8 Iransaciion. If
an arran￿en￿nI consiituies a fin8n¢ing iraThshctiorb, Ihc flnancial assei or financial liabilily is inca5wrd at lh¢ prese
value ()f the fiilure payments discount¢d ai a IMrk¢i rnte of inrere51 for 8 siinilar debi insiruineni.
Finan¢i218ss¢is And liabilities are only offs¢l in the sthkment of finarKi81 posilion when, and only whcn there exists
legally cnforc¢abl¢ righi to sei olT the rccogniscd 8nwt$ and ihe chariiy rnlcnds cither to s¢ul¢ on a nei bASiS, or to
r¢ali5c ilie assei and seiile the liability siinuliancously.
Fin•nLial a%sels are dercco8nis¢d when and only when Al the ¢ontr8¢tual rights to tile cash flows froin the finaiicial
3¥sel expire or èTC seiiled. bl Ihc ch8rity (r8nsf¢rs lo unother party subsianiially all ofilie T15ks rewards ofownei'8hip
of Ilic fsn#neial a55Ct, or el thc charity. despiie having rela1r￿d som¢, nol all, significant risks and rewards of
owicr5hip. h8$ IrAfksferTcd conlrol of the asset lo ano¢h¢r p8rty.
Financial liabilities are derecogni8¢d only when thc obli8aiion speeified in the Contract is disch8rg¢d, cAn¢elled or
exi)ires,
2 Donations and l¢ga¢les
UnrutrS¢ted
funds
Total
2024
General
Donalcd serw¢es and facilities
1.812,420
,812.420
This income 1$ tn Trlation to property developments gnd inyrovernenls that were fimded by Bradford Council.
Page 14

Bingley Grammgr School Foundation CIO
Notes to the Financlal Statements for the Year Ended 30 September 2024 (Continued)
3 Income from Investments
Unrestritted
Total
2Q24
Gener#1
2023
Inl¢resi receivable And sitnilar income.
lttlercsi receivable on bank deposiis
Incotiie from listed invesltnenis
702
15.665
702
15,665
400
12,823
16.367
16.367
13.223
4 Income from CharitAble Hctivltles
Unrt$lrltted
'urtds
Tot*1
2Q24
Tot*1
2023
Income from invcslmeni properti
Insiirance recliar8¢
Rcpairs rechgr8C
109.528
6.499
3.3(
109.528
6.499
3,360
119.387
7.939
119,387
119,710
S Lxpendlture on rllslng funds
Total
2024
Total
2023
Dlrett eo$tS
Porifolio Inanagcnicnt cosls
kieni manag¢iiKn¢ fees
7,6
18,662
18,662
Page 15

Blngley Grammar School Foundation CIO
Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)
6 Expendlture on Charltable Acllvities
Unrestricted
fund5
Tot*1
2024
Tot21
2023
Gener*1
Staff co%ls
cji￿nI funding
PTOPCI"ly expenses
Insurance
Legal fees
ttcnt
Coimpiiicr softwore
Audit of the finuiiLial $talements
Otlier fee8 paid 10 auditors
Proper¢y repairs
6,250
6.250
6.250
50,000
448
11,074
1.358
12.190
9,967
350
1,358
12,190
9,967
350
350
152
3,294
3,549
16,562
8.055
8.055
45,790
45,790
92,816
GrAnt-maklng
Anllyils of Rrfintj
Grlnts
2024
2023
Anglyslx
(ii'ants
50,000
Thc support cost% a&8ociaied wih grnn¢-m*king are £Nil130.Sq)t¢mb¢r 2023- £Nil).
The grall15 for ilie y¢ar cnding 30 Septern￿r 2023 ￿￿¢ giv¢n to Bingjey Grammar School to fvnd two projccls 10
Iipgradc liglilirtg ¢0 r￿U¢¢ power con5umpiion, And 10 pay for an external provider of welfare scrviccs for a cot)trAcied
period p051 Covid io lielp pupils were badly 8ff¢ued
7 Cjaliis Ilosses on investment 115sets
2024
2023
Gbinsliosses on invcstmcnt a55c15
I'liis incoine is in re18tion 10 Jnarkel value BairL4 I Ilosscsl arising on the inv￿¢￿¢￿1 tx>rtfolio.
104,769
21,895
8 I'ru%tees rernunerAtion And expenses
No Iruslec5. nor any pcr50lls conneelcd with them. have received 8ny remut)erniion from the Cl￿ritY during the current
or prcvi0115 ycar.
Page 16

Bingley Grammar School Foundation CIO
Notes to the Financial Statements for the Year F.nded 30 September 2024 (continued)
9 St#(f Costs
The aggttga* payr¢)11 Costs were as follows:
2024
2023
Staff costs during the year were:
Wage% aiid salaries
6,250
6,250
No etnployee re¢¢ived ¢molum¢nts orn￿re thon £6A),000 during ihe year
10 Trlxed *$$ef IDvt$imeni$
Flxed AM¢t Investm¢nl$
Inveslrnenl
properile$
l)Iher
Inveilnient$
Market v2lue
Ai l ()clol)cr 2021
Additions
Dispo$als
K¢valuaiton
12,927,5
1.812,420
746,195
5,323
17,86RI
104,769
13,673,695
1,817,743
17.8681
104.769
At 30 8epleJn￿r 2024
14.739,920
848,419
15.588,339
Ntt book value
At 3n.Scpieittber 2024
14.739.920
848.419
15,588,339
A¢ 30 Scpicit)ber 2023
12,927,5(K
74C),195
13.C)73,C)95
All investment assets wcre held in the UK.
T1￿ investinenls are Iield primirily for ithves¢methi reiurn.
Rev#lu8tlon of Investm¢nt property
The invcstsncnl propcrtics wcre rcvalued by Michael Stecl & Co Properly thnsu118nis wlio 8re exLern81 and
indepciidcnl lo Ihc charity. I'he valuer has an appropriatc qualifjcalion alid is rcgistered witli ihc Royal Institutc of
Lhartercd Surveyor5. '1'1)e d8¢e of the la51 valuation w85 30 Sepicmiw 2023. The inves11n￿lI propcrtlC5 weir rcvalucd
on the ba$i$ of markei v8lue.
Page 17

Bingley Grammar School Foundation CIO
Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)
11 Debtors
2014
2023
Trade debiors
13.220
9.006
Prepayjiienis
Accrued incoffte
Other debiors
9.686
1,668
528
528
23.011
22.754
12 Credltor$: Ainouiits falllng due with?n one ye8r
2024
2023
Other ¢reditor5
A¢cn]als
D¢f¢rred incomc
1,100
5,745
13.301
5,698
16,5%9
23.446
20,206
2024
2023
Ikf¢rr¢d in¢om¢ brou8ht fonvard
Resources deferred in Ihe pcriod
Amounts rclcascd from previous ￿riodS
16.5119
11,424
16,589
11,424
16.589
Def¢rr¢d income Bt year cnd
13,101
16.589
Deferred income relaies ￿ r¢nl$ rec¢ivable in advance.
13 Ilperatlng It*se$- lessor
Thc Iolal fu￿re minimum l¢ase in¢onK under I￿n-ca[￿Cl1abIC OPCrnlin8 le&ses, for e8¢11 of the following periods..
2024
2023
Not laleT Ihan one year
Later than one year and not lal¢T five yu
LatCT tlilln five years
38.149
86.693
84.646
209,488
23,724
17,633
41,357
Tl)e Tent8 rec¢gnised &s income durin8 the year wcrt £109.528 {2023_ £111,771).
Page 18

Bingley Grammar School Foundation CIO
Notes to the Financial Statements for the Ye4r Ended 30 September 2024 (continued)
14 Funds
Other
re¢ognised
gaIn￿(lO5%¢$j
Balgnce &1 30
Septeriibei.
2024
Incomlng
resources
Kesources
expended
Oetober 202J
Urkrestricted
CJcnei?I
2,818.084
.948,174
166.166)
4.700.092
RcvHIu81ion r¢s¢rve
10.942.265
104.769
I I.IH7,034
TDt*l funds
13,760.349
1.948,174
{66,166
104.769
15,747,126
Other
reco%ni%ed
at 30
Septenil)¢r
21123
Halanct at I
October 2022
In¢omiDg
r¢sourets
Re50urce5
eypend¢d
Uiii'estrl¢i¢d
G¢n¢ral
2.796.629
132,933
{111,478}
2.818,084
12,106,681
{1.164.4161
10,942,265
Total funds
14,9)3,310
1,164,416
13 760.349
1 S Analy$ls of ne¢ #Meis betwttn fund$
Unresfrleled
fund$
G¢n¢r*l
funds
.1.0141 furtdi
Fixed asset inv¢sinKll15
Ciirrcnl asscls
13,775,919
17A,993
(20,206
13.775,919
178.993
20,206
Tol81 net assets
13 934,706
13,934,706
16 Related party trAnsa¢tlon$
Oilicr t1￿￿ the tri￿teeS there are no other key mllnagemeni pewmKI. Total enyloyee benefi15 of the key manageineti(
personnel w8$ £Nil12023- £Nil).
P88e 19