Charily ￿gi￿ra110n number: 309905 Northampton Old Grammar School Foundation Annual Report and Finan¢i&l Siaiemenli ror the Y¢ar Ended 31 March 2025 Northampton Old Grammar School Foundallon Contents (Continued) Reference and Admini51ralive Delthils Trn$lees' R¢porl 2105 Stalem¢nl ofTfUSittS' Responsibiliiies Independcnl Audi(ofs' Report 7109 Siaiemeni of Financial A¢iiviiie5 10 Balan¢e Sh¢ C45h Flow S￿lemen1 12 Notes to Ihc Finoncial Sialcmenis 131020 Northampton Old Grammar School Foundation Reference and Administrative Details T￿Stee5 Untll Ex Offieio Mr R Bernard Further notice Nomlnated Mro Hattis 1510912029 Mrs M Kay MrA Hakes 1510912029 1510912029 Mrj Drown 1510912029 Cowopted MrG Moss 1110312027 MrA Cockerill 0810712028 Mr P Maynard Mr J Lavelle {Vi¢e Chairnian) Ms C Deans {resigned as ChaiTperson and Tru51ee 07111 Q024) Mr P Bason {Chairman) Mr T Bjson 110312027 0310712026 0711112024 0110912028 0911012026 Charlty Reglslratlon Number 309905 Clerk to the Trustees and Prlnclpal Ms N. Maher Address Kellering Parkway South Keltering Venlure Park Keitenng Northatnplonshire NN15 6WN Auditor Hawsons Chartered A¢¢ountanls Jubilee House 32 Duncan Close Moulion Park Northampton NN3 6WL Solleltors Wilson Brown LLP Kellering Parkway South Keltering Venture Park Kettering Northamplonshire NN15 6WN Page I Northampton Old Grammar Sch(￿1 Foundatlon Trusiee$' Report The ffiisiees preseni Ihe annual Teport lo¥ether wilh Ihe financial 51alem¢nt5 of Ihe ¢hanly the y¢ar rnded J l Marth 202J. The rinineial slaiemenls have been prepared in aceordance with ihe accouniing policies scl oul on page 13 And 14 and comply with th¢ Charily's TNSI Deed and ?pplicabl¢ law. The Injsiees have adoptcd Ihc provisions of ihe SLitemenl of Recommended Praclice (SORP). "A¢counlbny And Reportin8 by Charilies" issued In 2015 in preparins the anmial rep)rf and financial slalemenls ofihe ¢harily. Governln8 do¢Mmenl Northimplon Old Grammar School Foundaiion is consiiiuied by schemes dated S July 1911, 27 Seplcmber 1961, 6 tkcember 1978 and 24 Apnl 2(X)J. The Foundalion 15 1 registered charily number 309905. Appolntmttst of ¢rusleeJ The charily has sou¥hi io Achieve a cros#asectlOfb of expen'ence wiihin Ihe Iruslees. The ¢UTTeni policy is ou41ined wiihin iht 2(J)3 Scheme Amendment and allows for Iwelve Irustees comprised of:. l Ex 0￿1¢10 TNsl¢e being ihe Headmasler S Nominited Tntslees being appoinlcd from Ihc school governors 6 Co-opled Trustee5 WI￿ musl not be 8iJvemors or employeei of the sehool Th¢ app)Inlm¢nl of fulure In￿lee5 Is now d¢o11 with it) 4¢¢ordance wilh Ihe 2003 Scheffl¢ •m¢ndmcnl. The name5 ofirustees are scl out on p&8e I logeiher with Ihe l¢rnis ofJppoinlm¢nl. Trusiees who W¢Te du¢ lo retire durin8 Ihe y¢•r and who were ¢lb8ibl¢ lo seek r¢-eleclion hav¢ been reappoinlcd during Ihe year. Truiiees who are due for re*leclion durin¥ Ihe nexl fijwicial year will be review¢d al iht foTthcomin¥ Trusites MedinR. Tr¥itee InduciloN •nd trAINln8 New Iw51e¢5 on induclioTh ire provided with 4 copy of Ihe Tn￿1 Scheme. Ihe l•sl sel of audiled •¢¢¢unls *nd a full set of the pwevious Iw¢lve monihs, minutes. On¥oing Irainin¥. whitsi not specifiLally provided, will Ix made Availible where tfr eir¢um$tan¢e$ warr¥nl il. Trustees Ire kepl iThfonn¢d of ch4n8es in the law relaling lo ¢h)rilie$ and on ¥overnanc¢ iJ8u¢s by a variely of means, i.¢. the cl¢rk. rhe auditors. Ch4rily cornmiss￿n newslwi¢rs elc OriAn15atlon The charity has A Chaim)&n and Vice-chairnian and a Bogrd of TNslees, consi￿1n¥ of an Ex orri¢io member. Nominaied menjbcrs and co.opted members. The board meels on a w¢8ular ba515 durin8 the financial y¢ar. The iNsiees havc Pdppo•nl¥d a clerk lo d¢al wilh the adrninislraiion of Ihe charily's affairs, Thc Clerk convene$ regular meelin85 oftruslees or sub commitiees 1¢ de&1 wilh Ihe business ofihc charily. The names Ind addresses ofih¢ Clerk Ind oiher idvis¢rs 10 Ihe injslees are sel oul on page I, The Trusiees operaie in a¢¢ord8n¢t with the ChAriiy Commi$sion Order daled 2S March 1994. Rel•ted P*rtks The cknfily h85 ¥ close workin8 relalionship wilh Ihe Northampion School for 13oys, the main benefi¢i4ry of Ihe chaTlty and Wilson Browne Solicitor$. who Provide ihe Clvk and I¢Bal s¢rvicE5. Rljk nmnagemenl The Injslees have perfomed a risk examina¢ioN review during ihe year. This uornined ihe major slral¢gi¢ bu51ness and operational risks which Ihe Found4lion faces and eonfimied ihai syslems hiye Ixen esibblished io enible re8￿141 reports to b¢ Jwoduccd so Ihal ne¢e5&ary ¥l¢ps c•n ￿ taken lo Ik5e ri5k5. Objetilves and gcilvliks The obj¢¢i$ of the charity are as follows.'- l. The T￿￿treS shall pay a yearly sum of £l,WO lo Ihc Borough Council and Ihe Counly Council. or a5 Ih¢y dI￿rI. lo be applied towards ih¢ maintenance ofihc school. {Th4s sum is now paid direct lo Ihe Gov¢mors of ih¢ Northamplon School for Boys). 2. The residue of nel yearly income of Ihc Foundolion shall be applied by Ihe Trusiees In one or more o( the following ways... (a) The piovi5i0n of il¢rns, scrvi¢c5 and farilili¢s for lh¢ ￿￿091. and (b) pron￿11￿1 the educalion of iyneficiiries by the award olprize5. schol•rships, bursiri¢s or mainten&nce allowances. P48e 2 Northampion Old Crammar School Foundation Trustees, Report {¢ontinued) In addiiion, lh¢ following subsidiary funds are i￿luded wiihin Ihe FoundAlion.'. Hemione Buckwalier Memorial Pund Saul Doffman Universily Prize Fund (eslablished 23 Au8llSt 1954) Fred Kilby And Siopford Sackville Srholarships (¢siablished 21 July 1937) The Martin Travel Award The objects of th¢ Subsidiary funds are lo mike 8VAilable cthaiTh prizes or aW4Td$ fDr pupils allendin8 Noffjhampion School for Boys. Alw included are.,. Th¢ Northamp10￿ Town and County Exhibiiion Fund (Charily Number 3Q9906) whi¢h was amaigam41ed wilhin Ihis Foundalioft with Ihe rowur￿nee of Ihe Charily CommissioneTS tn 1996. We hive referred io ihe ¥uid&nc¢ coniaincd in th¢ Charity Commission'$ general guidancc on public b¢nefil wh¢n setting and r¢vi¢win% our iims and objeclives and in iht plannin8 of future aciiyiiies. In particular the Board of Tfuslees Consider huw ihe planned future activilie& will conlribul¢ to Ihe aims 8nd objeclivcs scl. Prlnelpal pollelej lo *chlev* objecllves Thc IKuslees employ in inve5trnent manaK¢T (o h*ndle the inveslmcnl of the elthwrnenl fund. The inveslmeni policy is as follows. Th¢rc ar¢ no ￿Strictl0nS on the charily'5 power to invest. The invesimeni slrate8y is sei by lh¢ Iruslee$ in con5ulialion wilh Ihcii inveslmen¢ mnagefs on • medium-lerrn b4515 which 15 rcvi¢w¢d ai leasl annually. Thc trU￿teS consider Ihe in¢om¢ requiremenis. Ihe risk profjle iTrd Ihe iftvesimcnl m&n8g¢r's view of ih¢ market prospects. Th¢ ov¢rall slrJte8y IS to invest in a diversifi￿ portfolio of inveslmenis lo mainlain # susiainable level of income whilst prcs¢rvin¥ Ihe real value of the capilal over A rollin¥ 5-year period. Wilh Ihe in¢om¢ g¢nefaied Iht Irusiees make periodi¢ paymen1$ lo assisl ¢h¢ pupils fvi Ihe 5¢hool known as gpeci¥41 donations. These pymenis are now made under an arr?ngemenl known Is the Sepiember 2004 SITuclure. Surplus incorne can be applied to rnakc other donaliuns or meel Specific expenses for the bentfil of Ihe pupils of Ihe s¢lb)ol eiih¢r in the currenl y¢?T or subsequently. All such paym¢nls are fflade ITr accordance wilh Ihe objects as set out in ihe scheme. During the year. the INsl¢¢s dccided 10 adopt a t￿￿1 rtlurn approach io inve8lmenl of Ihe Chrily funds. The policy has bc impl¢mcni¢d following consulialion wilh Ihe tNslec5 of Ihe Chariiy and cornmenced on 151 Jg4nuary 2025. From this ￿1n1. the invesled funds are rn￿e up as follows: Invesimefti Fund represtnling Ihe original ¢ndowm¢nl of £168,294 made on 31 ￿3 1980. The endowmenl his been adiusi¢d for inflation. in line wilh Ihe RetAiI Price Index. resuliing in a viluc of £1.040,660 •1 ihe balance sh¢el date. Unapplied Tolil Relurn Fund - ￿preSentIng ¥8ins (over and abov¢ infl•tion) and Income from Ihc Inv¢$imenl Fund, The valu¢ of Ihis fuThl 41 the balince sheel dale is £7,986.866. Income Fund repre5enlin8 fuhds from the Unapplied To181 Rdurn Fund which Ihc irusie¢s hav¢ specifirally all¢xal¢d io lurth¢rin¥ Ihe Chrily's objecls. Th¢ value ofihi5 fund as al ihe balance shed dale is £33J.572. Om an annu•l basis. lh¢ irnsiees will review ihe loial reiurn on ihe Inveslmcnt Fund and apply any relurn (ronsiderbn8 bu¢h ￿p]Ial aTMI iD¢ome) over and above inflation measU￿d by CPI for ihat year to ihe Unapplicd Tol41 Return Fund. Earh year, from Ihe Unapplied Tolal Relum Fund the lrnsiees will allocale a sum to ihe Income Fund which will be used lo furthv lh¢ objects 0( lh¢ charily and pay legil afftd Adminimralive costs relating lo Ihe running of ihe ChaT]ty. This sum will include Any Annual grants ihal Ihe Charily makes lo ihe school. The level of Ihe yranl will be reviewed on an annual bosis wilh Ihe aim of increasin8 Ihis annu4lly in line wilh irtflalion (CPI) (subjecl lo 8 ￿￿XimuM increase of 501• in any year). Thc Iru$iees have sei oui a re￿￿￿$ policy in rcspccl of ihe Unapplied Tot81 Return, which holds 4 lar8e parl of whal used io be Ihe endowment of the Charily before a i￿￿1 raurn appro&¢h wa5 adopied. This polKy Is ddaikd in th¢ R¢s¢i'iY5 Policy seclion or Ihe TTU51¢¢5 R¢poTI below. The iNsitts confirni thai ihey have r¢f¢rr¢d to lh¢ 8uidontt ¢oniained In lh¢ Charity Commi55ion's s¢nwal Buidance on public b¢n¢fil and when reviewing ihe charity'5 aims and objectives and in planning fulure a¢tiVilies oftd .selling Ihe granl-makifiJ3 policy for Ihe year. The Ifuslee5 ar¢ ¥alisfied thal the obj¢¢ls of lh¢ charily have beeth niel duFin8 Ihe year. Northampton Old Grammar School Foundarfon Trustees, Report (continued) Achlevemeul$ and Per(orm*A¢¢ The Trusiees sd their investmenl managers a composite benchmark to pcrforni againsi This is conlained in Ihe Invesiment Policy s￿lement which is ￿¥•¢Wed annually. The Tntskes have set oui #n Invesiment objeclive as follows; "Maintain th¢ (apilal valwe of Ihe p5sets and ihe net I￿ome from the Northampton Old Gramm4r S¢hoDI Foundaiion Endowment Ind Resiricied (Bugbrooke) Fund Il leasl in line with Innalion over a (rJlliTr8 5-year penod" The ponfolio investment m8ll38¢rs. RBC Brcwin Dolphin. Iheitfore have a larg￿ objective of providing a ioial reiurn {i.e. income and capit41 returns combinyd) ahead of Inflation ovcr a rolling 5-Y￿r penod Durin¥ Ihe pa51 financial year, despiie a mcthsl dccline in Ihc c8pi141 valu¢ of Ihc portfolio, Ihe lolal r¢lurn achi¢v¢d was 3 30h (net of all cosl51: Ihis was ahead of inflaiion durin8 ihe peiiod {CPI 2.604). 5 Year c￿￿￿1211¥¢ returns have lolilled 42.80. , again ah¢ad of inflalion (as Me￿ured by CPI) which WAS 25.60h by ¢omp&rison. The largei objeciive wls therefore successfully mel by Ihe inveslmenl mano8crs. FIna￿lI1 Revlew The I￿al income of the charily has dec￿￿ed by £6.332. Alihough property incom¢ has increased by £4.876, inv¢strnenl income h•s decreased by £l1.208 in Ihe year due lo mgrkd volatility. Resour¢es expended have increased by £87.552. which can bc allribuled lo the increASt ifi 8TiiilS piid durin¥ Ihe year by £66.QOO as well as in¢reased ¢l¢fk f¢e$ of £18.850 due lo additional WO￿ performed in r¢5pr¢l vHrious mallers such •s making ¢han¥es io Ihe governin8 documenl and Implemcnlin¥ the lolal reium sirfyit8y N¢1 in for futsre ptrlods In a¢¢ordan¢¢ wilh ¢%islin¥ policy Ihete was no ¢han¥e in the 1X￿￿e1 for¢easl during ihc year. The Tntsiecs I￿)k advice from Iheir Inveslmenl Managers Brewin Dolphin and have been in COTrSl&n¢ coniatl wilh ihe Inv¢slmenl Manag¢rs throughout ihe year Whil￿ also keepin8 in conlacl wilh the School sQ 115 to ensure ihal the objecls OC ¢he Foundaiion can be mel in the bcsl way possiljle. To give Ihe Irustees addiiionAI flexibility in meelin8 ih¢ future objects of the Foun(la¢ion. dunn8 th¢ period the Iruslees a¥reed io adopt a 'Total Reiurn, InV￿Ment Mfdl¢8y wing forward èl Ihc $3nw lime ring-fencin Ihe Foundalion'5 innalion-adJu4ed wigiftBI endowmenl to ap￿OpriatelY dislinguish beiw¢¢n dislribulable and T￿n-dIs1￿b¥IJblc r¢serv¢s. The annual report wa5 4pproved by lh¢ lrnslets of Ihe charily on J Scpiember 2025 and signed on lis behalf by.. Mr P C'hairman Mr J Lawelk 'icc Chaimi•Tr Paue 5 Northampton Old Grammar School Foundation Statement of Trustees, Responslbllities The irusiees are responsible for pr¢p4rin¥ ihe Irustees, report and Ihe financial slalements ith accordance with ihe Uniied Kingdom AccounlinB Standards (Unil¢d Kin8dom G¢n¢rally A¢¢¢pl¢d A¢counlin8 Prnclicel and •pplirablc low And regulaiions. The174w applicabl¢ lo Eharili¢s re4uires the ifusltts lo prcpar¢ financial $lalements for each financ￿1 ye*r which 8ive a Irue and fair view of Ihc s1o1¢ of alyabrs of ihe chariiy and of Ihe iThcomin¥ resouycex and applicaiion of resourc¢s of lh¢ rh4riiy for ihal pcriod. In preparin¥ Ih¢5e fill4￿141 s¢alem¢nts, th¢ In￿1¢¢$ ale requi(ed io: seleet suiiable accounling poli¢ies •TNI Ihen ipply Ihem ¢onsislenily; observe ihe mell￿dS and principles in ihe Chirilies SORP: make jud¥fftrtis and C￿lm81e$ Ihat ar¢ reasonable ind prndenl: silte whciher applicable a¢¢oMnling MJndard$ hve been follow¢d, $ubj¢ci io any rn4leiiol d¢parturc5 disclosed and explained in ihe finNncial sl8tements' and prepare Ihe financial slalemcnls on Ihc ¥oin¥ concern basis unless ii is inhppropriale Io Presume ihat ihc chrily will ¢onlinue in business. The iruslees are responsible for keepin¥ proper 8ccoufiiin8 ￿C0￿$ that disclose wiih reasonable accuraey al aTry lime the financial posilion of lh¢ ¢haTily and enable them lo ensure Ihal the financial siaiernenls comply wilh ihe Chari¢i¢s Aci 201 i. Ihe Ch)riiie$ (Accounls and Reporls) Re8u141D0Th5 2008. and (h¢ provi5ivns Df ihe conslitulion. Th¢ Irusiees or¢ also responsible for safeguardin8 Ihc assets of lh¢ ¢hariiy and h¢n¢¢ for laking feasofftable steps for the pr¢v¢nlion and delcclion of fTaud and oiher iThe¥ulariiies. The Irnstees ire responsible for the rnaintenanee and inle8rily of ihe CO￿N>￿te and financial infomioiion included on Ihe charitabl¢ ¢omp4Try'$ websile. Le8islalion 8OVCrnITI8 ihe p￿Parall0￿ and disseminAl￿n or rin•n¢i•l slalemeni$ m•y diff¢r from l¢xi$l•lion in oiher jurisdi¢iions. Approved by Ihe ¢ruslee$ of Ihe chlrily on 3 Swember 2025 and signed on its beholf by.. MrP Blson Chairnian grt Mr J Lavcll¢ Vic¢ Chom*n P4b•e 6 Northampton Old Grammar School Foundalion Independent Audltor's Rèport to thé Members of Northampton Old Grammar School Found•tèon Oplnlon We have audited ihe financial slaiemenls of Northampton Old Grammar School Foundaiion (thc 'charily'l (Of Ihc year end￿ 31 March 2025. whi¢h comprise lh¢ S141¢menl of Financial A¢livilie5. B41an¢¢ Sheel. Cash Flow Siatemeni. and Noles lo ih¢ Financial Si*iemenis, including a summary of signifi¢8nt a¢¢ounling polici￿. The financial rcportin¥ f18mewo￿ ihgl has been applied in iheir prep&ralion is Uniied Kingdom Accounling Slandards, comprisin¥ Chariti￿ SORP - FRS 102 Th¢ Financial R¢por11n￿ Standard &ppli¢•ble in ¢he UK and Rry)ublic of Ireland, and applicable law (Uniied Kingdom G¢nerAlly Aecepled Aeeounting Praciicc). In our opinion the fina*cial slalcmcnls.. 8ive a Irue and f•iT view of lh¢ sl•le of Ihe ch8Tily's affairs gs at 31 March 2025 and of ils incomin¥ and applicalion ofresour¢es. imcludiro¥ ils incorne and ¢xpcndilur¢. for lh¢ y¢Lr ih¢n ended- have been Properly prH)ared in K¢ordan¢¢ wilh United Kin¥dom fjeneTrlly Accepled Accoun1tn￿ Practice; and have been prep•red in Accordance wilh the Tcquiremenis of ihe Charilies Aci 2011. Basis for oplnlon We conducled our iudil in ¥¢ordan¢e wilh IniemAiionil Standards on Audiling (UK) (ISAS (UK)) Ind appli¢able law. Our responsibiSili¢s under ihose slandardi are further descrilxd in the audilor responsibiliiies for Ihe audil of the financial sialemenls seciion of our rctk)rl. W¢ Ire independ¢ni of ihe charily in accordance wilh Ihe ¢ihi¢al requirements ihat Are relevani lo our audit of Ihc financial st8¢emenis in ihe UK. including the TrRC's Ethi¢•l Sl•ndard, and we hJv¢ fulfilled our other eihicèl r¢spoTh%ibiliiies in accordance wilh these requiTemenlS. We believe Ihai lh¢ wdii ¢vthn¢e we have o￿aIned 15 5u(fi¢i¢nl and appropriate lo provide • basis for OUT OPiftiIJft. Cotstlu*k+nS relAllni to £olh£ ¢on¢¢rn ln auditing ih¢ financial siaiements, we hive concluded ihat Ihe InvJtee$ use ofihe 80in8 concern b*sis ofaccounlin8 in Ihe prcpar•lion ofthe financial staiemenis is appropriole. Based oft Ihe WOTk we hove pcrfomjed, we have not idenlified any maleTial unccrtainlies rel•lin8 lo cv¢nlS or ¢ondiiion$ ihal. individually or ¢oll¢clivcly. miy c•si signifi¢•ni doubi on lh¢ ¢harily's ability lo ronlinue ￿ a 80in¥ conccrn for & period of al leas1 Iwelve monih$ from wl*n the original finan¢ial 51alemenlS were *uihorised for issu¢. Our responsibililies and the respoThsibililie5 of Ihe trust¢e$ with respeci ￿ 80in8 conccrn aT¢ d¢sEribed in Ihe rel¢vanl s¢¢lion$ of Ihis rep￿1. Other inf•rm*iloD The In￿1¢¢9 are fesponsible for Ihe oih¢r infomalion. The other infornialion comprises the infomialion included in ih¢ Annual ieporl, othcr Ihan Ihe financial $l#t¢ffleniS and our audilor'5 report Ihereon. Our opinion on Ihe fin4n¢ial slal¢menls does nol ¢o¥er Ihe oiher infornialion bnd, except io the exienl orherwi5e cxpliciily slilcd in our reprt, we do nol express any fonn of assurin¢e ¢on¢lu5ion Ihereon. In connection wilh our itsdii of the fin•n¢ial siliemenls, our Tesponsibilily is to ￿ad Ihe thher inforn)a¢ion and, in doin¥ so, consider wheiher ihc oiher infornialion is m&ieri•lly imconsislenl wilh the fin4ncial $laiernents or our knowled8e obi4ined in il audit or oihenvi* appeirs io be materially missiaied. If wc idcrniify such mal¢nal incon$isl¢neies or appareftl malerial missiaiernenls. wé are required io d¢l¢rmin¢ whdh¢r theTe is a malerial mis51al¢ment in Ihe fin8n¢ial 818iemenl$ or ) material mi3518lcmcnt of the oiher infornialion. If, based on the work we have perfomied. we conclude ihal lhere is a maierial missiaiement ofihis oiher infom•iion, w¢ arc l¢quIr￿ ￿ rcport Ihii faci. W¢ hav¢ no(hins lo report in Ihis re8ard. P4¥¢ 7 Northampton Old Grammar School Foundaiion Independent Audltor's Report to the Members of Northampton Old Grammar School Found*¢lon (continued) Mitters Dn which we •re r¢qulr¢d lo report by txeepilon In Ihe light of our kTrowled¥e and uNler5tandin8 of ihe charity and its environmenl obi&incd in Ihc Course of the audit. we have iderttified mateiial mi5slal¢m¢nts in Ihe Tfuslees, Report. We have nothin8 10 report in respeci of the following mali¢WS where ihe Charili¢5 {Arrounls ind Repori) Regul?tion5 2008 requires ws lo report 10 you if, in our opinion: adequaie ￿Ounting records hav¢ not been kepl, QT relurn5 adcqual¢ for our audit have not been recei￿d from bfanches nol visited by us,. or Ihe financial siAlemenis are not in a8re¢mcnl with ihe %couniing reconls and r¢tums; or certain dI￿10$Ur¢S of Irusl¢c5 rcmungTrlion specified by law are nol made: or wt ￿ve noi ￿ceived all Ihe infom)iiK)n and ¢xplanalion$ we r¢quire for our audil. Rejponilbilities of tru5t¢e¥ As explgined more fully in the Sialemenl of Truslees, Re5PQn5ibililies (sel out on p•¥e 6), Ihe iTuslees ale Tesponsiblc for ¢he prep&raiioTh of the financial siaiemenls and for being satisfied ihai they giv¢ ) and f8ir view. and (or such inl¢rnal conlrol as the Inistees delennin¢ is n¢c¢ssary lo enable Ihe prepaniion of finan¢i41 Stalemenis Ihal are free from material misslalcrncnl. wheiher due to fTaud or ¢ffor. In preparing Ihe financial slaiemenls, Ihe Iru$ltts are rcsponsyble for assessing Ihe ¢h?rbly's Ability Io Cl￿tinU¢ 1$ i going concern, disclosin8. as applieible. matrers related io going ¢on¢tm Jnd using th¢ going concern ba5ls of accounlin¥ unless ihc iruslces eiih¢r inlcnd to liquidate Ihe charily or lo cease operalions, or have no realislic allemfylive bul lo do so. Audltor R¢sponJlbllltlu fov ¢ht audlt of the ffin*TheiAI stAttmtntx We have been •ppoinled as auditor under s¢clion 145 of the Charilies Acl 2011 Ind repon in accordance wilh r¢¥ulations m•de under se¢¢ion 154 of Ihal Aci. Our objeclive$ are io obi&in reasonable 8ssuran¢e thbout wheiher lh¢ financial sl4i¢m¢nl$ as a whole #re free from malerial misslalemenl, whciher due io fraud or error, Ind to issu¢ an iudilor's reporl that in¢lude$ thir opinion. R¢850n4bl¢ pssurAnce is high levcl ofassur&nce, bul is not 8 guaranlee Ihil an audii condueied in accordanc¢ wilh ISAS {UK) will alwiys detecl a malerial misiiaiemeni when il exisis. Missl&kmcnls ¢in •ris¢ froni fraud or em)r and are considered nwtcrial if. individually or in ihe a¥8re¥Nie, Ihey eould reasonibly be expecied io influence Ihe economi¢ decisions of uscrs lJkEn on ihe bq$i$ of these fin¥n¢ial slalemenls. Irre8u141ilies, in¢luding fraud, &re in$lAnces of non.¢omplian¢e wiih14w5 •nd regulations. Wc desigTr pro¢cdures in line wilh our responsibililits, ouilined above, io detect maierial missaiernenis in respecl of irre¥ulariti¢& inrluding ffaud. The exlenl lo which our procedures are Capable of dcleclin8 irr¢8uIArilie% including fraud 1$ delailed ￿low.. Th¢ ¢harily 1$ subject 10 14w$ •nd re¥ulalion$ Ihal direcily and indir¢cily alTecl Ihe financi81 sial¢menls. BAsed on our undetsiandin¥ of Ihe charily and the ¢nvironmenl li operales wiihin, we dei¢rmined Ihal the laws 8nd Te8ulalion$ Ihai were mosl si¥nifi¢an¢ included FRS102. Charities Aci 2011 and Healih and Safely regulalions. We considered Ihe exlcnl lo which non¥¢omp1i¥￿e wilh these laws and regulations mi8hi have a material effeci on Ihc finaTh¢ial $141¢m¢nl$, in¢ludin¥ how fraud mighi OCCUT. We ev41uar¢d managemenl's inc¢nliY¢s and opportunilies for fraudulcni minipulalion of Ihe financi81 $14lemenl$ (including lh¢ risk of override of conlrols), and dctcnnlr￿d ihal th¢ principal risk5 w¢r¢ relaied io Ihe posting of iThoppropTiaie afEgunlinB enlries ¢0 improve Ihe charily's resuli$ for ihe period, ènd monagemeni bi¥8 in key &ccounling estimales. In addiiion io Ihis, we h#ve ilso id¢nlifi¢d Ihe followini principal risk areas.. Inconie re¢o8nition- Ih¢r¢ 15 Ihe risk th814ll incom¢ has nol be¢Tr r￿D￿liSed in the financial S¢alemertlS; Granl expendIlu￿ . lh￿ 15 a ii5k Ihal wanl expendilure h•s noi b¢¢n recoTded COTre¢ily wilhin lh¢ financial Malemenls: Portfolio v4lualion . lh¢ risk Ih81 the valuation of inveslmenl portfoli05 are malerialily ml55ta1L￿. Audil procedures p¢rfonn¢d by Ihe en8a8emenl ieam includtd.. Discussions wilh m4na¥emenl a￿1 ihose responsible for le￿1 Compliance proccdur¢5 wiillin ihe charity lo obtain an undersianding of the legal and regulalory r￿n￿Wo¥k applicable lo IhE Fhatily and how ihe chariiy complies with Ihal fr4mework. incl¥din¥ consideralion of known OT Suspecied iryslanees of non-compliance wilh law5 aTrd Tc¥uhiions and fiaud. Reviewin¥ minutes ofTrnsie¢s' meelin8S; Id¢nlifyin¥ and 4s5essing Ihe desi¥n ¢ffectiveness of controls Ihai minagemeni has in plY4cc lo prevenl and ddtti fraud and non-compliance of laws and re8uiaiion$; Page 8 Norlhampton Old Grammar School Foundatlon Ind¢pendenl Auditor's Report to Ihe Members of Northgmpton Old Grgmmlr S¢hool Foundatltsn (eontlnued) Reviewin8 the 8rant expendiulrc close lo the period-end ro assurgnce thai cxpendilure is includcd in ¢h¢ period to which il r¢lates' R¢Yi¢win8 ihe valuation or invesimenl portfolios al Ihe ye•r-end. and ¢ompann8 share Valu￿ lo m¥Jrket values available on Ihal d8lc. lo ensur¢ valu¢s are reco8nised as 8ppropri•ie. Bec¥4u5¢ Qr the In￿¥¢￿1 limilalions of audil. Ihett is a T15k ihai we will not delect all irre8ul&riiics. includiDB ihose leading to i rna(trial misM81emeni In Ihe financial slat¢men15 or non-¢ompliance wilh regulation. This risk increases (he moTe ih*l compliance wilh a low or regulalion 15 r¢mo¥¢d from the venls and irnnsacli0115 r¢fl¢c*d in ihe financifyl stAlemen15. a5 we will bt less likely to bccom¢ 8war¢ of inmances of non-compliance. The risk is also 8Tcal¢r r¢8arding IrTe8ularilics occu￿1￿3 due lo fraud raihcr than ¢rTor. 4s fraud inYolv¢5 inlenliopal concealment. foT¥ery. collusion omission or misrepr¢senl&tion. A fuTiher descriplion of our responsibilities is available on ihe Fin•n¢ial RepoTtin8 Coutheil'5 websile al www.fTC.ors.ukl•udiiorsresponsibililie$ Thi5 d¢scriplion (￿M$ pan ofour auditor's re￿. UM fyf repor¢ This repon is m•de solely io ihe chariiy irnslees. as • body. in a¢¢ordthn¢¢ wilh s¢¢lion 144 0( Ihe Charilies Aci 2011 8Thd re8ulolions m4d¢ under section 1 $4 of thAt Att. Our audii work has been undertaken so Ihai we mighi slale lo the ITustees Ihose mallcrs wc are required lo slile lo IIu51ees in an audilors. r¢port and for no other purpo￿. To the fullesl cxieni pcnnilled by law. we do nol K¢¢pt or *ssumc responsibilily lo anyone other Ihin (he Charity and ils ITusle¢5 a5 8 body, for our l￿di( work, for this r¢porf, or for Ihe opiTrioTrs w¢ h*v¢ fonKd. David Ow¢n¥ (Senior Sialuiory Audilof) For and on behalf of Hawson5 Chartered AccouDlanls, &iiulory Audilor Jubil¢e House 32 Duncan Close Moulton Park Northamplon NN3 6WL 3 S¢plemb¢T 2025 Northampton Old Grammjr School Foundatlon Statement of Financial Activities for the Year Ended 31 March 2025 Unrutrlcted fundj Restrlcied Endowmont lund¥ Bulldlng funds Totll 2025 2024 Note In¢offle: Property incorne Inv¢5trneni income 12,5(Kl 371.412 18.944 J76,301 14.1)68 387,YJ9 4.889 Tolal income 383.912 11.3J3 395,245 401577 ExpendllDre: Raising funds GrAnl funding of aclivities Governance coM$ (11.194) (205) (3S.880) {47.074) (381.832) (71,355) (49.319) (317,150) (46.240) (381.627) {71,355) Tolal ¢xFndilure Nel Inc•mel(expendliure) before other 84lns Ind {452,982) {11,399) (35.880) (500,261 412,709) 69,070) ￿06) (35.880 (105.016) {11.132) Nel gainl(loss) on inveslmcnl$ Nei g•in$ on fixed isseis Net (expendituvt)fiheome Trnnsfu beiween funds 721 75.WJO <0.082) (5.361) 235.000 283,747 (69.070) 75,655 118,038 124.623 272.615 et rnovemeThi In funds (68,335) 74.940 118,038 124,62J 272,615 Reron¢lll•llon of fyndi Toi•l funds brou8hi fonvard 6JS.074 258.959 9,421.190 2,503,626 13,818,849 l J,546,2J4 Tolal fundy c•rri¢d forward 14 566719 1333 899 9 539 228 2.503.626 13.943.472 13.818.849 All of Ihc ¢knrily's activilies derivc from conlinuinx oper41ion$ d￿rIng Ihe above Iwo peri(xts. Th¢ funds bf¢akdown for 2024 is shown in nol¢ 14. Th¢ noie$ on p&ges 13 10 20 forni integffdl pan of ihese financial sialem¢nt5. Pa8e 10 Northampton Old Grammar School Foundglion {Regtstratlon number: 309905) Balance Sheet as at 31 March 2025 2025 2024 Nol¢ Flxed Tangible os5Cts Inv¢stm¢nl$ 4.338.628 9.545,276 4,1 OJ.628 9 660.765 13.883,904 13.764.393 Currenl *51eti D¢b¢ors Cash ai bank and in hand 10 4,51XI 97,J71 2.925 72.269 101.871 75,194 Crodkovj: Amounlg filllng due wl¢hln one year 42.303 Iyet eurren( assets 59,568 54.456 N¢t aMrt• 13.943 472 13 818 849 Fundi of the eharlty: C4pii*l funds Revalualion reserve 8,922,728 616.5 8.964.690 456,5 Endown)eNt lynds 9,539.228 9421.190 Rejtrleted Income tsndi C•piial funds Revaluation reseTre 183,743 1 150 156 183.803 .073.156 R¢ilrlet¢d fuAdi ,333,899 1258 959 Unreytricled Income (unds Unre$lri¢ld lund - Endowmeni fund Buildin¥s fund 566.719 2.503.626 635,074 2.SOJ,626 ).070,345 J.138,700 Tol41 fyndj 14 l J.943,472 13.818.849 The financial Slalemenls on pa¥e$ 10 10 20 were approved by Ik Iru$iees, and auihori$ed (or issue on 3 S¢plemb¢r 2025 and si¥ned on Ihcir bchalf by.. Mr P Ba%ofi Lhiimian 9rt cfAUt Mv J Lawcllc Vi¢¢ chai￿0￿ The nol¢s on pa¥cs 13 10 20 (om) an inte¥ral part of Ihese finan¢i¥al slalem¢nl5. Pag¢ 11 Northampton Old Grammar School FoundAllon Cash Flow Statement for the Year Ended 31 March 2025 2025 2D24 Nott C•Jh flows from op¢rAtlng a¢tlvltl¢s Nel ¢ash in¢ome 124,623 272,615 AdJu*tmenli tts e•th flow$ from non4*$h Item$ Dividend income from inves¢m¢nl Property income from inveslmenl Gain on revaI￿all0￿ Gain of invesiments (376,301) (14.444) (235.0001 5.361 1387,5091 (14.068) 1283.747) (495.761 (412,709) Worklng caplial *dJu$lments (In¢rcaKYdff reas¢ in deb¢LKS In¢reosel(de¢re*se) in creditors 10 12 (1,575) 21.565 3,600 (27,364) Nei cash flows ffom opeTa¢ln8 a¢llVllie5 Cash flows from InvdilM¢ *cilvltles Pollfolio income Acquisilion5 of inveslm¢n15 Proceeds (rom sole of inve4m¢ni$ Property income Nei cash llow$ from invesiing aciivilies Nel decTea8e in cash and cash equiyalcnls Cash and cash equivilenls al l April C•ih and ¢fi8h equival¢ni$ 8131 Mor¢h 475,771 (436.473 376.301 {3,375,2811 3,451,751 14.444 J87.509 (2,853.8371 2.503.775 14.068 467.215 51.515 (8,556) 140,377 (384,9S8) 525.3J5 131,821 14U J77 All ofihe eish flows are derived from continuin8 operalions dunn8 Ihe above Iwo periods. The noies on pages 13 10 20 fomi •Th inlegfal pan ofihese financiil u8lements 12 Northampton Old Grammar School Foundatlon Notes to the Financlal St*¢ement$ lor the Year Ended 31 March 2025 l Ac¢owntlng pollclei St*temen( of ¢ompllan¢e The finonciAI iiaiemtnts have been prtpartd in iccordancc with the second edilioD of the Chariiies Sial¢menl of RffornmeDded Praelice Issued in O£lob¢r YJ19. lh¢ Financial Re￿rtIng Si&nd8rd 4pplitabie in the Uniied Kingdom and R¢publi¢ of Iieland IFRS 102) and Ihe Chariiies Ael 2011. B•sli of prep*r4tloA Northampton Old Grammar S¢hool Foundation meeis the definilion of a public benefit eniiiy undef FRS 102. The •c¢oun15 (rinancial 518temenis) have been prepared undcr Ihc hJsloric41 c051 conv¢nlion wilh items reco¥n15¢d al cosi or lr4n5aeiion value un1¢5s o¢heTwise siaied in Ihe relev8ni noie(s) io ihese accounts. Income Ind In¢ome Is crediied io IncoTnifi¥ resources on a receipls b•sis for sccurilies. ond on an J¢¢ru•ls basis for land. InconK from cawlal dijiribulions •re ieco8nised As In¢om¢ in Ihe EndowmeAI bund. Exp¢ndlttsre Reso4rc¢s &¥p¢nd¢d Cost of Bcncriiing funds ¢omwis¢ ¢h¢ eosis dire¢ily iiiribulable io managing Ihe inveslmenl portfolio and rai5in¥ inve51menl income. All expenditur¢ is a¢¢ounled fw an •c¢iu&ls basts. Provision is made ifi the accounts for Ihc 8r•DIs And speeiil donaith$ pyable thai have been approved during Ihe ieeounling yefir. Special donations are ihose donalions for Ihe benefi1 ofihe pupi15 ofihe sclH)ol, Pans of 5p¢ci41 donations Are speni on equiprnenl which Ternains in Iht ownership of Ihe Foundaiion As these asseis are nol income producin¥, Ihey ar¢ wriiien OIT in th¢ y¢ar ofacqui311ion. Gov¢rnance costs ¢ornprise 411 Cosls incurr¢d in lh¢ ￿T￿TIl running ofihe charily. T*n8lble flx¢O Iiiets Ccrtg4in of ihe ch&rilYs properties ire held for lon8-l¢nn inv¢slm¢nt and included In the balaftce sheei al ihc INsleeg esiimai¢ of open maTkei values. Thc surpluses or defici1¥ on revaluolion of such properties are Itan$f¢Th¢d lo the investmenl pr¢)p¢rty r¢volu#iion reserve. Depreeithiion li not provided in respeci of frcchold inveslmcnl pnJp¢¢ii¢s. The eharily oper41¢3 • policy or ndcrtJk?n¥ a fonnal independent iev7Jlualion every 3 yr4r5, of which pr¢viou$ valu41ioTr wis ¢4rri¢d oul in Ihe year ¢nd¢d 31 March 2025. Fund slru¢lure UDr¢stricied incomc funds arc gencral funds thai aTe available for use &1 the i(uslees discrelion In furth¢rance ofihe obje¢iives or Ihe charily. Restricled incoThe funds ar¢ ih05¢ donllled for use in a particular areo or for 5pecifi¢ purpose$, Ihe use of which is resirici¢d io Ihai area or purpose. Further dethil 1$ ¥iven in nole 14. Page 13 Northampton Old Grammar School Foundatlon Notes to the Thnancial Statemen1$ for the Year Ended 31 Mar¢b 2025 (contlnued) Flx¢d A$se¢ Inveslmen¢i Inveslments 4Te Included ai closing rnid markcl valuc ai ihe balaTree sheet daic. Any gain or loss on revalualion 15 lak¢n lo the Siwl¢mcnl of Finanrial Arlivitie5 During ihe year. the Iwsl¢¢s d¢cided io ath)pt a lotal fflurn approach lo inv¢slThKnl of the Charily funds. The policy hal been implemenied following consuliaiion with ihe Trusiees of Ihe Charily and commen¢ed on 1st January 2025. From Ihis point. thc illvcsled funds ate mode up a5 follows.. Invesimem Fund . representing Ihe original ¢TrdowThMI of 1168,294 TnJd¢ on 31.￿3119&0. Thc endowmcni has been idjusied (or inflaiion in line wilh ihe Relail Price Index. • Unapplied Tolal Relurn Fund . I￿1¢5¢nI1￿¥ ¥ain5 {yveT and AiK>ve infl•lion) And income from the Invutm¢rtl Fund. lrtcome Fund . repies¢niinB funds (rom th¢ Unapplied Tolal Relurn FUTr4 which Ihe INslees have specific•lly allocaled lo furtknn8 lh¢ Charily's objecls. The &pproa¢h Ind ¢orresponding p)Iicy Is deiailed in ihe 'Principal policies lo a¢hiev¢ obiectiV¢s' and the 'R¢Se￿¢S policy, Section of Ihr Truslees Repofi. 2 In¢om¢ frorn other tradln8 a¢tlvlllos Unre$lrl¢ted lundi Restrlcted funds TotNI fundg 20ZS Total fund$ 2024 Prop¢rty renill in¢ome lftvtstmenl income (see nole 3) 12.SCKI 371,412 383 912 6,444 4,889 18.944 376.301 14,068 387.509 11.333 395,245 401,577 J Invtstmenl Income Unre$tfl¢ted funds R¢slrbcted funds Total funds 2025 Tot*1 fund¥ 2024 Portfolio Incom¢ 371.412 4,889 376.301 387 509 2025 2024 Portfollo lu¢om¢ UK fixed inlrrcsi srturilies 87,798 140,984 56.623 50,814 91.744 109.388 135.563 387,509 Non UK fixed inl¢re51 securilies UK equiiies- income Non UK cquilies- iDcom¢ 90.896 376.301 Page 14 Norlhampton Old Grammar S¢hool Foundltlon Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (contlnued) l Expendllure on rilslng fundi R*slrl¢led funds Endowment lumds TotAI funds 2025 Total fvnds 2•24 Other Inveslmenl manigemenl costs. Investmeni m8na¥emeni fees Rcnl collcclion associiled properfy ¢osis 576 10.618 35.880 36,456 ILI.618 43,232 6,087 35.880 47.074 S ExpendlluR on ¢hArltAblé attlvlrfes Unreilrlcled fuAdi Rejlrkte Totil (urtds 2025 Tot•1 Iwndi 2024 Gwanls pay4ble'. Sirnclure granl Granls ￿Yabl¢.. Compulcr ¢quipmenl ¥T8nl Other donations. expenses Travcl c0515 Northampton Freemans Trnsl Blue Co•1 Educalional Charily 340.000 41.000 627 340,000 4t,￿0 627 315.01)0 471 205 20S 3111,627 205 381832 317.150 6 Analy￿$ of lupport colts Support e•iti allo¢ited to other expendlior¢ Tot*1 2025 TDtal 2024 ¢osts B*sls ol AIIo¢AtIo Unreslrickd Unresiricled Unresincled Clerk s fees Audit (ces Legal and professional fees 38.57J 12,050 20,7J2 38,573 12.050 20,732 19,723 12,1(K) 14.417 71,355 71,355 46,240 7 TNrtee$ remuneri¢lon •nd txpens No Irusiees, nor any persons connecied wilh ihern. hève reeeiv¢d any rtmunernlion from Ihe charity during th¢ year. Expenscs reimbursed by (he irnsiees during ihe year ioiolled £627 (2024- £471) Pagc 15 Northampton Old Grammar School Foundallon Notes to the FlnAnclal Statements for the Year Ended 31 March 2025 (conllnued) 8 Tin8lblt flxed as*lg Asai31 mA￿h 2025 Ai•t31 M•reh 2024 2025 2024 School sile, Billing RoAd. N¢)rthamplon The Cripps Hall LADd Ai Billin8 Road Spons Hall Agricultural Land (6 icres al Sywell Road. Holcoi) Reereatiott Ground- O.N.A (15.57 a¢Tes) Bu¥brooke E51ole (Ground renls llnd wayleAves, nolioMI vilue. Siyl BuBbrooke Eslate (A¥ricul¢ural land and building5, 67.944 Kres) Less. Oul80ings (Nole S) I.{￿.468 .439,158 I10.(w) S25.(￿0 1.064.468 1,439.158 100,000 375.000 8,000 8,000 250 250 69 68 1,199,750 1.124.?50 6.444 6.087) 4.338.628 4,103 628 3,895 7.981 SUMMARY: Land al Billing Road Spons Hall BuildiAs Fund Endowmenl Fund Reslricted Fund 1,064,468 1,439,158 2.503.626 635,002 1.200,0 4.338.628 1,064.468 1,439.158 2,503,626 475,002 1,125,000 4.103.628 (a) SCHOOL SITE, BILLING ROAD. NORTHAMPTON Th¢ Sile and buildin¥s are Ihe subjeei of a lon8 Jtase io ihc Northampion S¢kLool (OT Boy$ li a peppttcorn Tenl. The ¢51imaled CUTr¢nt valu¢ lo the charily is £ l. The sile and buildin¥5 1r¢ h¢ld foT Lhanlable aclivilies and held •1 ¢ost. (b) THE CRIPPS HALL Thc Cripps Hall 15 Also ihc subjrei of o loTh¥ letse 10 Ihe Nonhmpion School for Boy5 al 4 PepPe￿Orn renl. The eslimthied current value kn ihe chanly is £1. The building Is held for charikblc aclivilies and held al cost, 2025 2924 (e) LAND AT BILLING ROAD Cost al l April 2024 lo 31 MJrEh 2025 This land is h¢ld for ¢haiiiabl¢ 8¢1ivilies. 1,064,468 1.064,468 (d) SPORTS HALL Co.4141 l April 2024 10 31 March 2025 ,439,158 1,439,158 Page 16 Northampton Old Grammar School Foundatlon Noles to Ihe Financlal Statements for the Year Ended 31 Mareh 2025 (continued) The Sports Hall which sland$ on Ihe "Land al Billing Road" w•5 o￿ned for use by Iht pupils of ihe School In Ihe financial yeir 1992;'93 with final cosrs in conneclion wilh Ihe building Ixing expended in 1993.'94. Durin¥ Ihe year ended J l March 2019. property improvemcnts lo the spgrfs h811 were undertaken. These itnprovemenls includ¢d Ihe replacemenl of ihe sports h811 floor and a55ocialed sw)rts hall venillai￿n wod(s. (e) The Bugbrook Eslale, land il Sywell Road, Hokth and the ￿¢re￿IlOn 8round Ire all held w5 inveslmeThl propcrlies All properties aye held ai valualion and wcr¢ ind¢pendenily valued by Fisher GeTrnan. q firni of prof¢s$ional valuers on 31 March 2023. The h15tcvie cosi ofihe land and prop¢rly ￿ £44,34412024 £44.344) The Iw51ees rnainiain a policy whereby the Invesimeni prc*)erties aTe formally ¥•lued every 3 yeiTS. Prop¢ni¢s awe held Ai Ihe Trus1¢¢5' valu•ti¢Jn In years wlkere & fornMI valualion ha5 nol lakcn pla¢e 9 Inwejtmrntj 2025 2024 Inve$im¢nl$ 9.545.276 9.660.765 Reslylcted Endowmtnl TotAI Tot#1 Fundj 2•25 2024 Markel valuc ai l April 2024 Acquisiiions Disposal Pr￿ced9 Nel inv¢slm¢nl 84in$ Markel valuc al JI m?￿h 2025 Uninvesled cash 149.229 45,542 {45,764) 721 9,443,428 J,J29.739 13.405,9871 (6.082) 9.361.098 33.495 9,394,593 9,592,657 3.37S,281 {3.451.7S I I (5,361) 9,510.826 34,450 9,545.276 8,958,848 2.85J,837 (2,50J.775} 283,747 9,592,657 68,108 9.660.765 149,728 955 150,683 Inveslments Jl market valu¢ comprise. UK Equili¢s Non UK Equiiies UK Fixcd Invesimernl Securilies 1,688.317 5,409,321 969,348 1.443.840 34,450 9,525.276 2,067.112 4,816.951 931.jll ,777.28J 68,108 9,660,765 Non UK Ftheil Inleresf SecuTllies Uninvesied cash Page 17 Northampton Old Grammjr S¢hool Foundatlon Noles to the Flngn¢lal Statements for the Year Ended 31 March 2025 (continued) 10 Deblor$ 2025 2•24 Other debiors 4.500 2,925 I I C•ih 2nd cish equlvalenli 202S 2024 Cash at bink Uninvesled cAsh 97.J71 34.450 72.269 68.108 131821 140 377 12 Credltors: *mouAts f•lling due within othe y¢*r 202S 2024 Cosl of 8eneralin¥ fund5 Mgnagemenl and Jdministralion expenses Gran1$ payible Resincled Grants payable sINcl￿tt Brnnl 12.046 15.873 1,884 12.51)0 2,737 16,222 .779 42.303 20,738 13 Buildln8 fund 2025 2024 Baknnr¢ al Ihe be8lnnin8 of the year Trnnsfets inlo Ihe fund 2,503.626 2,503,626 Balancc al lh¢ ¢nd of lh¢ year 2,503,626 2,503,626 R¢lalin8 to.. Arquisilion of land ai Billing Road facili14led by mortgage of £850.(K)O whi¢h bec8me fully repaid in ihe year 1999,2000 Cost ol building ihe Sporfs Hall of which £ I,c￿).[KIo w45 rin•nc¢d by Ihe endowmleni loan from lh¢ endowm¢nl fund Sprts hAII property impTov¢menls 1.064,468 1,064,468 1.308,040 1,308.040 131.118 2.503,626 2.503,626 Page 18 Northampton Old Crammar School Foundfytlon Notes to the Flnan¢ial Statements for the Year Ended 31 March 2025 (¢ontfjnued) 14 Funds Other r¢¢oinls*d TrAn$f¢rs g*lng1(lossei> Balance At JI Mareh 2025 Inc•mlrtg resources Resour¢t• expended Aprll 2024 Unresiri¢icd fur¢ds Rcsiricied Funds Endowmeni fund4 Buildin¥ fund 635.074 1,258,959 9,421.190 2,503.626 383.912 11,333 (452.982) (11,399) (35.880) 715 (715) 566.719 .333,899 9,539.228 2,SOJ,626 75,721 153.918 Tolil funds 13,818,849 395,245 500.261) 229.639 l3,943,472 Endowmtnt Fund The tndowmenl fun(L which is pernianent, ¢anftol be ¢ortverted lo income Realised Bains and 105se5 on the sale of invesimenis are ir8nsferred io the endowment fund. Ponfolto managcmenl (¢¢s 4T¢ S¢t ayinsi Ihe fund. J5 8re fees incuTh¢d on capilal proiecls. The Eftdowm¢nl Fund hos lent £250.000 lo Ibe Unre5lrirl¢d Fund ￿ cover the all-weAihef Sports facililics grnni paid dunn¥ 2008. The annual repayments io Capiial were Te4¢hedUl￿ ¢ff¢¢liv¢ from 2014;'1 S and W¢f¢ furth¢r becn re-scheduled il) 2019120 for rurthei 8 yeirs. Durirt¥ the financial ye•r. it was Agreed that ihe remainiAB loan balance of £50.0(￿ would be written oif. On this basis no furthw p￿￿entS shall be iaken fTom ihe accunulaled income fund in rtpaym¢nl ofihis Ru¢rlded Fund Incom¢ from ihe Busbrooke Esiale is •lloeai¢d 10 i r¢slri¢ied fund lo b¢ applied in ac¢¢)rdance wilh tru￿$ ihai require £100 per annum lo b¢ donaled lo Northampton FTeemans Trusl and L￿e ihird of the ncl in¢ome lo be donated lo Blu¢ Coal Educ#tiorAal Chiriiy, The remaining rsel Income is not resiiickd and is IransferTed io UThTCSlri¢ied funds. Capiial of lh¢ Bugbrooke Eslalc 1$ h¢ld wilhin Ihe Res¢ri¢led Fund D¢ii8llA¢ed Fund A desi¥naled fund his been sei aside out of unr¢slricted fundy by ihe Irustees reprtseniin% a building fund 10 meei cosls of IAnd 4cquisitioTh, Ihc buildin8 of • Sport$ Hall (as detailed in nole 8) and Iny subsequcni improvemeni ro these land And buildin8s for Ihe b¢nefil of Ihe pupils of lh¢ Khool Unrmtrlcted Fund All Incom¢. excepi for the income of Ihe Bu¥bTook¢ Fund. is cyediied to ihe unrcsin¢l¢d fund ind ¢*n be wed al Ihe Ifuslees. diKrclion. os lon8 as wiihm the objects of Ihe charily. 15 An*lyJh of net agjetj between fundi Unr¢s¢rlcted fund$ Res¢rleied Endvwment funds Bulldlng ru•ds Tolil (yndi 2025 T4n¥ible fbxed assels Fixed asset invesim¢nl$ Currenl assels'(Iiibililies) 1.200.000 150,683 (16,784 6J5,1)02 9,394,59J (490,3671 2,503,626 4,338,628 9,545.276 S9.568 566.719 Total nel a￿¢1$ 560.719 1.333.899 9.539.228 2,50J,626 13.943,472 Unr¢sirkt•d Restrleted funds Endowmtnt funds Bulldlng fmnds Tolil funds 2024 Tan8ible fix¢d assets Fixed a55¢1 inve51Tnenls Curreni asseis'lli&bililies) 1,125,0(YJ 150.455 16,496 475.IM12 9.510.310 564.122) 2.503,626 4, IOJ,628 9,660,765 635.074 Toial nel a5seis 635.074 1258,959 9.421.190 2 503.626 13,818,849 Page 19 Northampton Old Grimmar School Foundatlon Notes to the FinanciAI Slatements for Ihe Year Ended 31 March 2025 {¢onllnued) 16 Anllysls of net debt At I ApTiI 2024 Cxshflows Al 31 Mor¢h 2D25 Cjsh al bank and In hand 140,377 14•J77 (8.556) (8,556) lJl.821 JJi.821 Net debt At l Aprll 2023 At 31 Ma￿h 2024 Cajhflowi Cash al bank •Dd in h•nd 525.335 (384.958) 1384,958) 140,377 Nel d¢bt $25,33S 140.377 Page 20