LYMM GRAMMAR SCHOOL TRUST
Unaudited accounts
for the year ended 5 April 2024
## **LYMM GRAMMAR SCHOOL TRUST**
## **Income and expenditure account for the year ended 5 April 2024**
|**Note**
**Income**
Dividends Receivable
Donations
Other Income
Bank Deposit Interest
**Expenses**
Accountancy
**2**
Other Professional Fees
**3**
Sundry expenses
**Surplus/(Deficit) for the year**|-
-
-|**2024**
**£**
2,821
10
-
205|-
4,259
-|**2023**
**£**
2,789
10
-
67|
|---|---|---|---|---|
|||3,036
3,036||2,866
4,259|
||||||
|||**3,036**||**(1,394)**|
1
## **LYMM GRAMMAR SCHOOL TRUST**
## **Balance sheet At 5 April 2024**
|**Notes**
**Fixed assets**
Tangible assets: land and buildings freehold
Investments
**Current assets**
Cash at bank and in hand
**4**
**Current liabilities**
Accruals
**Net current assets**
**Net assets**
**Capital accounts**
Brought forward
Surplus/(deficit) for the year
Revaluation of land and buildings
Revaluation of investments
**Reserves**|29,602|**2024**
**£**
500,000
82,686|26,564|**2023**
**£**
500,000
77,619|
|---|---|---|---|---|
|||582,686
29,602||577,519
26,564|
||0||0||
||||||
|||**612,288**||**604,183**|
|||604,183
**3,036**||193,497
**(1,394)**|
|||**607,219**
-
5,069||**192,103**
415,975
(3,894)|
|||**612,288**||**604,183**|
2
## **LYMM GRAMMAR SCHOOL TRUST**
## **Notes to the accounts for the year ended 5 April 2024**
## **1. Accounting policies**
## **1.1. Accounting convention**
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.
## **1.2. Dividend Income**
Dividends are stated net of non-recoverable tax credits.
## **1.3. Tangible fixed assets**
The freehold is shown at the latest valuation date with any increase or decrease in valuation reflected in the revaluation reserve account.
## **1.4. Investments**
Fixed asset investments are stated at cost less provision for diminution in value.
## **2. Accountancy Fees**
There are no amounts due for accountancy fees for the years ended 5 April 2023 or 2024.
## **3. Other Professional Fees**
Professional fees incurred during the prior year relate to legal advice on incorporated charity status and HM land registry fees associated with the application.
## **4. Cash at bank and in hand**
Cash balances at 5 April 2024 comprise those held in the current account and reserve account.
3