AYLESBURY GRAMMAR SCHOOL FOUNDATION CHARITY NUMBER 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Scheme The Foundation is governed by a Scheme of the Charity Commissioners numbered 42842 dated 24 March 1960 and subsequent variations thereto. Trustees During the year to 31 August 2024 the Trustees were: Kevin Hardern (Chairman) Elm Gables 82 Wendover Road Ayle5bury HP219NJ Paul Buckland The Dove House 4 High Street Haddenham HP17 8ER Obe Ejikeme 38 Risborough Road Stoke Mandeville HP22 5UT Wing Cdr Lee Cobley Walnut Tree House 28c Bishopstone HP17 8SF Paul Bown Chearsley House Church Lane Chearsley HP18 ODF James Collins Dene House Broomfield Hill Great Missenden HP16 9HT Mrs Jacqueline Brooker 48 Manor Park Avenue Princes Risborou8h HP27 9AS Wing Commander Cobley resiEned as a Trustee with effect from 5 July 2024. Address The address of the Foundation for correspondence is c/0 The Clerk to the Foundation, Aylesbury Grammar School, Walton Road, Aylesbury, Bucks, HP217RP. Clerk As at the end of August 2024 the position of Clerk to the Foundation was vacant. Banker The Foundation's Banker is Lloyds Bank plc, l Market Square. Aylesbury, Bucks HP20 ITD.
Auditors The Foundation's auditor is Mr Paul West of PKW Accountancy Limited, I Church Square, Leighton Buzzard, Beds LU7 IAE. Investment Advisors The Foundation ha5 engaged two Investment Advisors, each charged with mana8inE a portion of the Foundation's restricted and unrestricted investments. The advisors are: Ms Laila Charlton-meyrick of Coutts & Co, 440 Strand, London, WC2R OQS," and Mr Ben Minter of Cazenove Capital, l London Wall Place, London EC2Y SAU. Investment Powers There are no specific investment powers, the Scheme providing that any sum of cash at any time belonging to the Foundation and not needed for working purposes shall, unless otherwise directed by the Minister of Education, be treated as capltal and invested. Objects The objects of the Foundation are to provide benefits forthe Aylesbury Grammarschool 1.the School") in the following ways: la) Providing such special benefits for the School as may from time to time be agreed by the Trustees; {bl Awarding to beneficiaries Scholarships, Bursaries or Maintenance Allowances tenable at any School, University, or other place of learning, approved by the Trustees; (cl Providing financial assistance, outfits, clothing, tools, instruments or books to enable beneficiaries to prepare for, or to assist their entry into or advancement in, a profession, trade or calling. (d) Awarding Scholarships and Maintenance Allowances to enable beneficiaries to travel abroad to pursue their education. (el Providing, or assisting the provision of, facilities for recreation and social and physical training including the provision of coaching for athletics, sport5 and games, for beneficiaries who are receiving primary, secondary or further education; {fj The provision of financial assistance to enable beneficiaries to study music or other arts. (g) The provision of accommodation for any one or more persons employed at the School as a residence for such member of staff and any member of his or her family during the period of his or her employment if in the Trustees opinion it would be for the benefit of the School to do so. In the above, "beneficiaries" means persons who have not attained the age of 25 years who attend or have attended Aylesbury Grammar School and who, in the opinion of the Trustees, are in need of financial assistance. A preference shall be given to beneficiaries resident in either of the Ancient Parishes of Aylesbury or Walton. Page 12
10. Activities During the Year 10.1 The Trustees met formally four times during the year. 10.2 There were additionsto Board of Trustees during the year. As noted above, Wing Commander Cobley resigned as a Trustee with effect from 5 July 2024. 10.3 There have been no material changes in the policy of the Foundation since the last annual report. 10.4 The costs that have been involved in the administration of the charity are audit and accounting fee5 of £2,592, clerking fees of £5LK) and investment management costs of £20,066. In addition, the Foundation has incurred costs of £152 in respect of bank charges and £133 for third-party liability insurance. No honoraria orexpenses have been paid to any of the Trustees. 10.5 Legal fees of £2,977 were incurred in respect of work on the registered titles of the Foundation's land holdings. In addition, the Foundation made a payment of £3,600 to a specialist for advice on the management of the Foundation's land holdings. 10.6 The Foundation contributed £4,000 to the School in respect of its ongoin8 commitment to support school prizes, and £4,428 to support continuing development of the alumnus database. In addition, the Foundation agreed to contribute £10,000 to the School to support a one-off special recognition programme for School staff. 10.7 The Foundation continues to support a student exchan8e programme with a partner school in Toronto and contrlbuted £4,138 towards air fares to enable students from the School to participate in this programme in the calendar years 2023 and 2024. 10.8 The Foundation contributed £3,851 for equipment to the School from the JM Raven fund which is specifically designated for this purpose. 10.9 The Foundation continued to underwrite the costs of the 425 anniversary history of the School. In the year to August 2024, the Foundation paid £16,388 towards the production of the history book and £5,684 towards the accompanying book launch and distribution. In return, the School repaid £5,600 to the Foundation from the initial book sales. No further costs are expected in this regard, and the Foundation expects to recover some or all of its costs incurred to date from future book sale proceed5. th 10.10 Income from interest on deposits amounted to £2,222 on unrestricted funds and £90 on restricted funds. Investment income accruing from the invested assets amounted to £189,748 into unrestricted funds, £2,583 into the JM Raven restricted fund and £1,103 into prize funds. 10.11 There was a net gain from realised and unrealised 8ains/losses on general investments of £500,202. ii. Statements 11.1 The Trustees have no reason to believe that the value of the Foundation's assets differs materially from that shown in the accounts. 11.2 The Trustees have no reason to believe that the Foundation's assets are not available and adequate to fulfil its charitable obligations. 11.3 In setting the objectives of the Foundation and planning its activities, the Trustees have given careful consideration to the Charity Commission's General Guidance on Public Benefit and in particular its Public Benefit Guidance on Advancin8 Education. Page 13
11.4 The Trustees, Reserve Policy is to hold sufficient funds to meet the objectives of the Foundation over the lon8term. The Foundation held total funds of £5,945,890 as at 31 August 2024. This represents restricted funds of £105,445 Endowment Funds of £5,120.740 and unrestricted funds of £719,705. 11.5 When recruiting new Trustees, the Trustees take into account the attributes they will bring. Where possible, the Trustees as a body will have experience in legal, accountancy and education matters. Chalrman Date Page 14
AYLESBURY GRAMMAR SCHOOL FOUNDATION REPORT ANfD FINANCIAL STATEMENTS YEAR EIWED 31 AUGUST 2024 CHARITY NUMBER: 310626
AYLESBURY GRAMMAR SCHOOL FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EM)ED 31 AUGUST 2024 CONTENTS Page Trust¢¢s' Report Auditor's Report Statement of Financial Activities Balance Sheet Notes to Accounts 9-13
AYLESBURY GRAM SCHOOL FOUNDATION CHARITY IYUMBER: 310626 TRUSTEES REPORT FOR THE YEAR EI¥DED 31 AUGUST 2024 Scheme The Foundation is governed by a Scheme of Charity Commissioners numb¢r¢d 42842 dated 24 March 1960 and subsequent variations thereto. 2. Truste During the year to 31 August 2024 the Trustees were: Kevin Hardern (Chairnian) Wing Cdr Lee Cobley (resigned 5 July 2024) Paul Bown Mrs Jacqueline Brooker Paul Buckland James Collins Obe Ejik¢me 3. Address The address of the Foundation for correspondence is c/0 The Clerk to the Foundation, Aylesbury Grammar School, Walton Road, Aylesbury, Bucks, HP217RP. 4. Clerk As at the end of August 2024 the position of Clerk to the Foundation was vacant. 5. Banker The Foundation's Banker is Lloyds Bank plc, l Market Square, Aylesbury, Bucks, HP20 ITD. 6. Auditors The Foundation's auditor is Mr Paul West of PKW Accountancy Limited, I Church %quar¢, Leighton Buzzard, Beds, LU7 IAE. 7. Investment Advisors The Foundation has engaged two Investment Advisors. each charged with managing a portion of the Foundation's restricted and unrestricted investments. The advisors are.. Ms Laila Carlton-meyrick of Coutts & Co., 440 Strand, London, WC2R OQS. and Mr Ben Minter of Cazenove Capitsl, l London Wall Place, London EC2Y SAU. 8. Investment Powers There are no specific inv¢stmcnt powers, the Scheme providing that any sum of cash at any time belonging to the Foundation and nol needcd for working purpos¢s shall, unless otherwise directed by the Ministcr of Education, be treated as capital and invested.
AYLESBURY GRAMMAR SCHOOL FOUNDATION CHARITY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Objeets The objects of the Foundation are to provide benefits for the Aylesbury Grammar School ('Mhe School") in the following ways: a) Providing SULh special benefits for Ihe Schi)ol as may from time lo tiTne be agreed by the Trustees. b) A warding to beneficiaries Scholarships, Bursaries or Maintenance Allowances tenable at any School, University or other place of learning, approved by the Trustees. c) Providing financial assistance. outfits, clothing, tools, instruments or books to enable beneficiaries to prepare for, or to assist their enty into or advancement in, a profession, trade or calling. d) Awarding Scholarships or Maintenance Allowances to enable beneficiaries to travel abroad to pursue their education. e) Providing, or assisting in provision of, facilitics for recreation and social and physical training including the provision of coaching for athletics, sports and games, for beneficiaries who are rcceiving primary, secondary or furthcr education. fy The provision of financial assistance to enable beneficiaries to study music or other arts. g) The provision of accommodation for any one or more persons employed at the School as a residencc for such member of staff and any member of his or her family during th¢ period of his or her employment if in the Trustees opinion it would be for the benefit of the school to do so. In thc abovc, "bcncficiaries" means persons who have not attained thc age of 25 years who attend or have attcnded Aylesbury Grammar School and who, in the opinion of the Trustees, are in need of tinancial assistance. A preferencc shall bc givcn to beneficiaries rcsidcnt in eith¢r ol thc Ancicnt Parishc8 of Aylesbury or Walton. 10. Statement of Trustec$' Responsibilities in respect of tbe accounts The Charities Act 201 I requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Foundation and of its financial activities for that year. In preparing those accounts, the Trustees arc required to:_ Select suitable accounting policies and then apply thcm consistently. Make judgements dnd estimates that are reasonablc and prudent. 8iale whcihcr appliLabl¢ UK accounting standards and statements of recommended practice have been followed subject to any material departures dis¢loscd and cxplained in the fmancial statements" Prepare ihe financial slaiements on the going concern basis unlcss it is inappropriate to presume that the charity will continue in operation. The trustees are r¢sponsible for keeping proper accounting records which disclose with reasonable accuracy at the time the financial position of the charily at that time and enable them to ensure that the financial statements comply wÉth thc regulations under Section 154 of the Charities Act 201 l. They ar¢ also r¢sponsibl¢ for safcguarding the assets of th¢ Charity and h¢nc¢ for taking reasonabl¢ sL¢ps for prevention and d¢trrtion of fraud and other irregularities.
AYLESBURY GRA1vI SCHOOL FOUNDATION CHARrfY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) 11. Activities during the Year a) The Trustees met forn]ally four times during the year. b) There were additions to Board of Trustees during the year. As noted aEK)ve. Wing Commander Coblcy resigncd a8 a 'l'rustcc with effcct from 5 July 2024. c) There have been no material chang¢s in the policy of the Foundation since th¢ last annual report. d) The costs that have been involved in the administration of the charity are audit and accounting fees of £2,592, clerking fees of £500 and investment management costs of £20.066. In addition, the Foundation has incurred costs of £152 in respect of bank charges and £133 for third party liability insurance. No honoraria or expenses have been paid to any of the Trustees. e) Legal fe¢s of £2.977 w¢re incurrcd in respect of work on the registered titles of the Foundation's land holding8. In addition. the Foundation made a payment of £3,600 to a specialist for advice on the management of ihe foundation's land holdings The Foundation contributed £4.000 to the School in respect of its ongoing commitment to support school prizes, and £4,428 to support continuing developmcnt of the alumnus database. In addition, the Foundation agreed to contribute £ l 0,000 to th¢ School to support a onfroff special recognition programme for School staff, g) The Foundation continues to support a student exchange programme with a partner school in Toronto and contributed £4,138 towards air fares to enable students from the School to participat¢ in the programme in the calendar years 2023 and 2024. h) The Foundation contribut¢d £3,851 for equipment to the School from the JM Raven fund which is specifically designated for this purpose. i) The Foundation continued to underwrite the costs of thc 425th annivcrsary history of Ihe School. In the year to August 2024, th¢ Foundation paid £16,388 towards the production of the history book and £5,684 towards the accompanying book launch and distribution. In retum, the School repaid £5,600 to the Foundation from the initial book sales. No further costs are expected in this regard, and the Foundation expects to recover some or all of its costs incUed to date from future book sale proceeds. j) Income from interest on deposits amounted to £2,222 on unrestricted funds and £90 on restricted funds. Inveslment income accruing from the invested assets amountcd to £189,748 into unrestricted funds, £2,5 83 into the JM Raven restricted fund and £1,103 into prize funds. k) Ther¢ a net gain from realised and unrealised gains/losse.s on general investments of £500,202.
AYLESBURY GRAMMAR SCHOOL FOUNDATION CHAIUTY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) 12. Statements a) The Trustces have no reason to believe that the value of the Foundation's assets diff¢rs materially froTn that shown in the accounts. b) The Trustees have no reason to believe that the Foundation's assets are not available and adequat¢ to fulfil its charitable obligations. c) In setting the objectives of the Foundation and planning its activities. the Trustees have given carefijl consideration to the Charity Commission's General Guidance on Public Benefit and in particular its Public Benefit Guidance on Advancing Education. d) The Trustees, Reserve Policy is to hold suificient funds to meet the objectives of the Foundation over the long tern]. The Foundation holds totsl funds of £5,945,890 as at the 31 August 2024. This represents restricted funds of £105,445. Endowment funds of £5,120,740 and unr¢stricted funds of £719,705. e) When recruiting new Trustees, the Trustees take into account the attributes they will bring. Where possible, the Trustees as a body will have experience in legal, accountancy and education matters. Chairman: K. HArdern Date: 13 2025
AYLESBURY GRAMMAR SCHOOL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES We have audited the financial statements of Aylesbury Grammar School Foundation for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom G¢n¢rally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 201 l and the regulations made under section 154 of that Acl. Our audit work has been undertaken so that we might statc to the charity's trustccs those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees &5 a body, for our audit work, for this report, or for the opinions we have fornied. Respective responsibilitie8 of trustees and auditors As explained more fully in the Trustees, Responsibilities Statement, the trustees are responsible for the preparation of financial statements which give a true and fair view and for such intcrnal control as the trugtees deterniine is necessary to enable the preparation of financial statements that are free from material statemenL whether due to fraud or error. We have been appointed as auditor under Section 144 of the Charities Act 201 l and r¢port in accordance wilh regulalions made under Seclion 154 of that Act. Our responsibility is to audit and express an opiiiion on the financial statcments in accordance with applicable law and International Standards on Auditing (UK). Those stsndards require us to comply with the Auditing Practice Board's (APB'S) Ethical Standards for Auditors. Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts of disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are fr¢¢ from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies ar¢ appropriate to the charity's circumstances and have bccn consistently applied and adequately disclosed. the reasonableness of significant accounting estimates made by thc trustccs. and thc overall presentation of the financial statsments. In addition, we read all the financial and non-financial inforniation in the Trustees, Annual Report to identify material inconsistencies with the audited fmancial statements and to identify any inforniation that is apparently materially incorrect based on, or materially inconsistent with the knowledge acquired by us in the course of perforniing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications of our report. Opinion of financial statements In our opinion the financial slatcmcnts: give a true and fair view of the state of the charity's affairs as at 31 August 2024, and of its incoming resources and application of resources. for the year then ended. have been woperly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. Have been prepard with thc r¢quircTnents of the Charities Act 2011.
AYLESBURY GRAMMAR SCHOOL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued) Conclusions relating to going concern. We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to rcport to you whcre: The trustee's use of the going concern basis of accounting in preparation of the financial statements is not appropriate. or The truslee has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern b&is of accounting for a period of at least twelve months from the date when the financial statements are authoriscd for issue. MAtters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: the inforniation given in the Report of the Trustees is inconsistent in any material respect with the financial statements. or suffiLient accounting records have not been kept. or the financial statements are not in agrecment with the accounting records and returns. or we have not received all the inforniation and explanations we require for our audit. PKW Accountancy Limitsd Statutory Auditor 2nd Floor I Church Square Leighlon Bu/.7.ard Bedfordshire LU7 IAE 2025 PKW Accountancy Limitcd is eligibl¢ to act as an auditor in ternis of section 1212 of the Companies Act 2006.
AYLESBURY GRAM SCHOOL FOUNDATION STATEMENT OF FINANCLIL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted R¢$tri¢ted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Notes INCOME AND ENDOWNMENTS FROM: Investtn¢nt 14,081 Charitable activities 5.600 3,776 174,203 192,060 5,600 163,644 18 Total Income 19.681 3.776 174,203 197.660 163,662 EXPENDITURE ON Raising funds Charitsble Activities Other 2,128 26,249 26,341 145 (2,149) 17,793 20,066 24,100 26,341 16,685 119,759 3,284 Totsl Expenditure 54,718 (2,004) 17,793 70,507 139,728 Net Ineome/(expenditure) Trdrn5f b¢twe¢n funds (35.037) 169,988 5.780 156.410 (169,988) 127.153 23,934 134,951 5,780 (13,578) 127,153 23,934 Other recognised gainsl (losses) Gains/(Losses) on investsnent assets 48,551 7,629 444,022 500,202 (67,488) Net Movement in Funds Reconciliation of Funds Totsl Funds brought forward 183,502 13.409 430,444 627,355 (43,554) 536,203 92,036 4,690,296 5,318,535 5,362,089 Tot¥1 Fund carried forward 719,70S iOS,44S 5,120,740 S,945,890 S,318,S35
AYLESBURY GRAMMAR SCHOOL FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2024 nr¢stricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Notes Fixed Assets Tangible assets InvesLn]¢nls 5,000 5,115,740 5,000 5,000 5,670,503 5,174,292 450,230 104,533 450,230 104,533 5.120,740 5,675,503 5,179.292 Current Assets Cash at bank 271,947 4.912 276,859 153,493 271,947 4,912 276,859 153,493 Creditors Amounts falling due within one y¢ar io 2,472 4,000 6,472 14,250 Net Current Assets 269,475 912 270,387 139,243 Total Assets Less Current LlabllStles 719.705 105,445 5,120.740 5,945,890 5,318,535 Funds Unrestri¢t¢d Restricted Endowment 719,705 719,705 536,203 105.445 92,036 5,120,740 5,120,740 4,690,296 105.445 719.705 105,445 5,120,740 5,945,890 5,318,535 Approved by the Board of Truste¢s on ... . . 2025 and signed on its behalf by: K Hardern - Trustse ins - Trustee
AYLESBURY GRAMMAR SCHOOL FOIJNDATION NOTES TO THE AccouNfs FOR THE YEAR ETIDED 31 AUGUST 2024 Accounting Policies The charity constitutes a public benefit entity as defined by FRS 102. The Financial Statements have been prepared in accordance with the Statement of RccoTnmcnded Practice: Accounting and Reporting by Charities pr¢paring their accounts in accordance with the f4inan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) revised Octobcr 2019, and th¢ Financial R¢porting Standard applicable in the United Kingdom, Republic of Ireland (FRS 102) and the Charities Act 201 l and UK General Accepted Practice as it applies from l January 2015. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to Ihe extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) revised October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn The presentation currency of the financial statements is thc pound st¢rling (£) and the financial statements are the rounded to the nearest £. The particular accounting policies are described below: a) Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fix¢d assets. b) Investments The Foundation's policy is to hold investments primarily in order to generate income that can be applied to the charity's objectives. Fixed asset investments are stated at market value. c) Fixed Assets The charity owns land which has planning perniission and has been valued at market value. The charity owns the school site and associated buildings and playing fields. These may only be used for purposes consistent with an ¢du¢ational establishment and therefore have little or no value by thems¢lv¢s. They are excluded from the fanCIal statements. d) Voluntary income All voluntary income is accounted for gross when rcccivcd. Income is stated gross of incomc tax repayments. e) F.xpenditure All expenditure is accounted for gross when incurred. Known expenditure, incurred but not yet paid, is accrued for.
AYLESBURY CRAIAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YFAR ENDED 31 AUGUST 2024 (Continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restrictcd funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The co8l of r4*ising and administering such fund8 a charged against the specific fuiid. The aim and use of each restricted fid is set out in the notes to the financial statements. Endowment funds represent those assets which must be held pennanently by the charity, principally investments. Any capital gains or losses arising on the investments fonn part of the fund. Investment management charges relating to the fLmd are charged against the fund. Investment income and gains are allocatsd to the appropriate fund. Incoming Resources from ChAritable Activities 2024 2023 Rent Other 5,600 18 5,600 18 Charitable Activities Expenditure Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 21123 Payments to Aylesbury Grammar School School Prizes 26,249 3,851 (6,000) 30,100 (6,000) 115,759 4,000 26.249 (2,149) 24,100 119,759 Costs of Generating Funds Unrestricted Funds Restrieted Endowment Funds Totsl Funds Total Funds 2024 2023 Legal & professional costs for invc.%tments 2,128 145 17,793 20,066 16,685 10
AYLESBURY GRAMM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Other Costs Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Auditors, remuncration 1,386 Other expenses 1.990 History ofslhool 16,388 L¢gal and professional expenses 6,577 1,386 1,990 16.388 6,577 1,185 2,099 26,341 26,341 3,284 Comparatives for the Statement of FinanciAI Activities Unrcstricted Restricted Endowment Total Funds Funds Funds Funds 2023 Notes INCOME AND ENDOWNMENTS FROM.. Investment 8,944 Charitable activities 18 3,296 151,404 163,644 18 Total Income 8,962 3,296 151,404 163,662 EXPENDITURE ON Raising funds Charitable Activities Other 1,342 115.759 3,284 82 4,000 15,261 16,685 119,759 3,284 Total Fxpendlture 120,385 4,082 15,261 139.728 Net Income/(expendlture) l TangfeTS between funds (111.423) 129263 (780) 136,143 (129,263) 23,934 17,840 (786) 6,880 23,934 Other recognised gainsl (logses) Gainsl(L055es) on investment assets 3,420 (2,425) (68,483) (67,488) Net Movement ID Funds RteoneiliMtioD of Funds Total Funds brought forward 21,260 (3,211) (61.603) (43.554) 514.943 95.247 4,751,899 5,362,089 Total Fund Carried fonvard 536203 92,036 4,690,296 5,318,535
AYLESBI3RY GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR EM)ED 31 AUGUST 2024 (ContlDued) Comparatives for the Balance Sheet Unrestricted Restricted Endowment Total Funds Funds Funds Funds 2023 Notes Fixed Assets Tangible assets Investments 5,000 4,685,296 5,000 5,174.292 391.949 97,047 391,949 97,047 4,690,296 5,179,292 Current Assets Cash at bank 146,504 6,989 153,493 146,504 6,989 153,493 Creditors Amounts falling due within onc year io 2,250 12,000 14,250 Nct Currcnt Assets 144,254 (5,011) 139,243 Total Assets Less Current Ll8blllties 536,203 92,036 4.690.296 5,318,535 Funds Unrestrlcted Restricted F.ndowment 536,203 536,203 92,036 4,690,296 4,690,296 92,036 536.203 92,036 4.690,296 5.318.535 Tangible Fixed Assets Freehold Land 5,000 Cost or valuation at 31 August 2023 and 31 August 2024 This amount relates to a small parcel of undeveloped land in the Broughton area which the Foundation continues to hold. The Foundation also owns the main school site together with the playing fields in .1 urnfurlong and th¢ Victoria Park site. The Foundation has leased the land and buildings to the Academy Trust on a 125 year lease at nil cost which commenced on l July 201 l. The Trustees have no rÈ8hts to sell or transfer them as long as the lease is in place, and therefore assume no real value. 12
AYLESBIJRY GIl4m SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Fixed Asset Investments 2024 2023 Listed investments: Market value at 31 August 2024 Additions Disposals Movement in cash accounl Net (Loss)/Profit on revaluation at 31 August 2024 5.174.292 5,228.323 2,826,570 840,560 (2.602,269) (858,928) 19,719 (16,533) 253,191 (19,130) Market value at 31 August 2024 5,670,503 5,174,292 Historical cost at 31 August 2024 5,215,538 4,991,944 10. Creditors 2024 2023 Amounts falling duc within one year: Accruals and deferred income 6.472 14,250 6,472 14.250 11. Restrlcted Funds Reallsed and Unrealised Gain/ Loss Balance enditure on investments 31 Balance Jncomin 3108 2023 Resources Ex J M Raven fiund School Priz¢ Fund 63.686 28,350 2.651 1.125 (3,996) 6,000 4,521 3,108 66,862 38,583 92,036 3,776 2,004 7,629 105,445 J M Raven Prize This nd was established in 1992 from the Estate of J M Raven. The Trustees may utilise the fund for the objects of the charity, except that no funds shall be appropriated for building work. School Priz¢ Fund This lund was established from various donations. £4,000 was accrued for prizes during the year. 12. Transaetions with Trustees and Connectcd Persons No Trustee or connected person received any remuneration or expenses. (2023 - £Nil). 13. Staff Costs There were no staff costg. (2023 - £Nil). 13
AYLESBURY GRAMMAR SCHOOL FOUNDATION REPORT ANfD FINANCIAL STATEMENTS YEAR EIWED 31 AUGUST 2024 CHARITY NUMBER: 310626
AYLESBURY GRAMMAR SCHOOL FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EM)ED 31 AUGUST 2024 CONTENTS Page Trust¢¢s' Report Auditor's Report Statement of Financial Activities Balance Sheet Notes to Accounts 9-13
AYLESBURY GRAM SCHOOL FOUNDATION CHARITY IYUMBER: 310626 TRUSTEES REPORT FOR THE YEAR EI¥DED 31 AUGUST 2024 Scheme The Foundation is governed by a Scheme of Charity Commissioners numb¢r¢d 42842 dated 24 March 1960 and subsequent variations thereto. 2. Truste During the year to 31 August 2024 the Trustees were: Kevin Hardern (Chairnian) Wing Cdr Lee Cobley (resigned 5 July 2024) Paul Bown Mrs Jacqueline Brooker Paul Buckland James Collins Obe Ejik¢me 3. Address The address of the Foundation for correspondence is c/0 The Clerk to the Foundation, Aylesbury Grammar School, Walton Road, Aylesbury, Bucks, HP217RP. 4. Clerk As at the end of August 2024 the position of Clerk to the Foundation was vacant. 5. Banker The Foundation's Banker is Lloyds Bank plc, l Market Square, Aylesbury, Bucks, HP20 ITD. 6. Auditors The Foundation's auditor is Mr Paul West of PKW Accountancy Limited, I Church %quar¢, Leighton Buzzard, Beds, LU7 IAE. 7. Investment Advisors The Foundation has engaged two Investment Advisors. each charged with managing a portion of the Foundation's restricted and unrestricted investments. The advisors are.. Ms Laila Carlton-meyrick of Coutts & Co., 440 Strand, London, WC2R OQS. and Mr Ben Minter of Cazenove Capitsl, l London Wall Place, London EC2Y SAU. 8. Investment Powers There are no specific inv¢stmcnt powers, the Scheme providing that any sum of cash at any time belonging to the Foundation and nol needcd for working purpos¢s shall, unless otherwise directed by the Ministcr of Education, be treated as capital and invested.
AYLESBURY GRAMMAR SCHOOL FOUNDATION CHARITY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Objeets The objects of the Foundation are to provide benefits for the Aylesbury Grammar School ('Mhe School") in the following ways: a) Providing SULh special benefits for Ihe Schi)ol as may from time lo tiTne be agreed by the Trustees. b) A warding to beneficiaries Scholarships, Bursaries or Maintenance Allowances tenable at any School, University or other place of learning, approved by the Trustees. c) Providing financial assistance. outfits, clothing, tools, instruments or books to enable beneficiaries to prepare for, or to assist their enty into or advancement in, a profession, trade or calling. d) Awarding Scholarships or Maintenance Allowances to enable beneficiaries to travel abroad to pursue their education. e) Providing, or assisting in provision of, facilitics for recreation and social and physical training including the provision of coaching for athletics, sports and games, for beneficiaries who are rcceiving primary, secondary or furthcr education. fy The provision of financial assistance to enable beneficiaries to study music or other arts. g) The provision of accommodation for any one or more persons employed at the School as a residencc for such member of staff and any member of his or her family during th¢ period of his or her employment if in the Trustees opinion it would be for the benefit of the school to do so. In thc abovc, "bcncficiaries" means persons who have not attained thc age of 25 years who attend or have attcnded Aylesbury Grammar School and who, in the opinion of the Trustees, are in need of tinancial assistance. A preferencc shall bc givcn to beneficiaries rcsidcnt in eith¢r ol thc Ancicnt Parishc8 of Aylesbury or Walton. 10. Statement of Trustec$' Responsibilities in respect of tbe accounts The Charities Act 201 I requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Foundation and of its financial activities for that year. In preparing those accounts, the Trustees arc required to:_ Select suitable accounting policies and then apply thcm consistently. Make judgements dnd estimates that are reasonablc and prudent. 8iale whcihcr appliLabl¢ UK accounting standards and statements of recommended practice have been followed subject to any material departures dis¢loscd and cxplained in the fmancial statements" Prepare ihe financial slaiements on the going concern basis unlcss it is inappropriate to presume that the charity will continue in operation. The trustees are r¢sponsible for keeping proper accounting records which disclose with reasonable accuracy at the time the financial position of the charily at that time and enable them to ensure that the financial statements comply wÉth thc regulations under Section 154 of the Charities Act 201 l. They ar¢ also r¢sponsibl¢ for safcguarding the assets of th¢ Charity and h¢nc¢ for taking reasonabl¢ sL¢ps for prevention and d¢trrtion of fraud and other irregularities.
AYLESBURY GRA1vI SCHOOL FOUNDATION CHARrfY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) 11. Activities during the Year a) The Trustees met forn]ally four times during the year. b) There were additions to Board of Trustees during the year. As noted aEK)ve. Wing Commander Coblcy resigncd a8 a 'l'rustcc with effcct from 5 July 2024. c) There have been no material chang¢s in the policy of the Foundation since th¢ last annual report. d) The costs that have been involved in the administration of the charity are audit and accounting fees of £2,592, clerking fees of £500 and investment management costs of £20.066. In addition, the Foundation has incurred costs of £152 in respect of bank charges and £133 for third party liability insurance. No honoraria or expenses have been paid to any of the Trustees. e) Legal fe¢s of £2.977 w¢re incurrcd in respect of work on the registered titles of the Foundation's land holding8. In addition. the Foundation made a payment of £3,600 to a specialist for advice on the management of ihe foundation's land holdings The Foundation contributed £4.000 to the School in respect of its ongoing commitment to support school prizes, and £4,428 to support continuing developmcnt of the alumnus database. In addition, the Foundation agreed to contribute £ l 0,000 to th¢ School to support a onfroff special recognition programme for School staff, g) The Foundation continues to support a student exchange programme with a partner school in Toronto and contributed £4,138 towards air fares to enable students from the School to participat¢ in the programme in the calendar years 2023 and 2024. h) The Foundation contribut¢d £3,851 for equipment to the School from the JM Raven fund which is specifically designated for this purpose. i) The Foundation continued to underwrite the costs of thc 425th annivcrsary history of Ihe School. In the year to August 2024, th¢ Foundation paid £16,388 towards the production of the history book and £5,684 towards the accompanying book launch and distribution. In retum, the School repaid £5,600 to the Foundation from the initial book sales. No further costs are expected in this regard, and the Foundation expects to recover some or all of its costs incUed to date from future book sale proceeds. j) Income from interest on deposits amounted to £2,222 on unrestricted funds and £90 on restricted funds. Inveslment income accruing from the invested assets amountcd to £189,748 into unrestricted funds, £2,5 83 into the JM Raven restricted fund and £1,103 into prize funds. k) Ther¢ a net gain from realised and unrealised gains/losse.s on general investments of £500,202.
AYLESBURY GRAMMAR SCHOOL FOUNDATION CHAIUTY NUMBER: 310626 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) 12. Statements a) The Trustces have no reason to believe that the value of the Foundation's assets diff¢rs materially froTn that shown in the accounts. b) The Trustees have no reason to believe that the Foundation's assets are not available and adequat¢ to fulfil its charitable obligations. c) In setting the objectives of the Foundation and planning its activities. the Trustees have given carefijl consideration to the Charity Commission's General Guidance on Public Benefit and in particular its Public Benefit Guidance on Advancing Education. d) The Trustees, Reserve Policy is to hold suificient funds to meet the objectives of the Foundation over the long tern]. The Foundation holds totsl funds of £5,945,890 as at the 31 August 2024. This represents restricted funds of £105,445. Endowment funds of £5,120,740 and unr¢stricted funds of £719,705. e) When recruiting new Trustees, the Trustees take into account the attributes they will bring. Where possible, the Trustees as a body will have experience in legal, accountancy and education matters. Chairman: K. HArdern Date: 13 2025
AYLESBURY GRAMMAR SCHOOL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES We have audited the financial statements of Aylesbury Grammar School Foundation for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom G¢n¢rally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" This report is made solely to the charity's trustees, as a body, in accordance with Section 144 of the Charities Act 201 l and the regulations made under section 154 of that Acl. Our audit work has been undertaken so that we might statc to the charity's trustccs those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees &5 a body, for our audit work, for this report, or for the opinions we have fornied. Respective responsibilitie8 of trustees and auditors As explained more fully in the Trustees, Responsibilities Statement, the trustees are responsible for the preparation of financial statements which give a true and fair view and for such intcrnal control as the trugtees deterniine is necessary to enable the preparation of financial statements that are free from material statemenL whether due to fraud or error. We have been appointed as auditor under Section 144 of the Charities Act 201 l and r¢port in accordance wilh regulalions made under Seclion 154 of that Act. Our responsibility is to audit and express an opiiiion on the financial statcments in accordance with applicable law and International Standards on Auditing (UK). Those stsndards require us to comply with the Auditing Practice Board's (APB'S) Ethical Standards for Auditors. Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts of disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are fr¢¢ from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies ar¢ appropriate to the charity's circumstances and have bccn consistently applied and adequately disclosed. the reasonableness of significant accounting estimates made by thc trustccs. and thc overall presentation of the financial statsments. In addition, we read all the financial and non-financial inforniation in the Trustees, Annual Report to identify material inconsistencies with the audited fmancial statements and to identify any inforniation that is apparently materially incorrect based on, or materially inconsistent with the knowledge acquired by us in the course of perforniing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications of our report. Opinion of financial statements In our opinion the financial slatcmcnts: give a true and fair view of the state of the charity's affairs as at 31 August 2024, and of its incoming resources and application of resources. for the year then ended. have been woperly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. Have been prepard with thc r¢quircTnents of the Charities Act 2011.
AYLESBURY GRAMMAR SCHOOL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued) Conclusions relating to going concern. We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to rcport to you whcre: The trustee's use of the going concern basis of accounting in preparation of the financial statements is not appropriate. or The truslee has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern b&is of accounting for a period of at least twelve months from the date when the financial statements are authoriscd for issue. MAtters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: the inforniation given in the Report of the Trustees is inconsistent in any material respect with the financial statements. or suffiLient accounting records have not been kept. or the financial statements are not in agrecment with the accounting records and returns. or we have not received all the inforniation and explanations we require for our audit. PKW Accountancy Limitsd Statutory Auditor 2nd Floor I Church Square Leighlon Bu/.7.ard Bedfordshire LU7 IAE 2025 PKW Accountancy Limitcd is eligibl¢ to act as an auditor in ternis of section 1212 of the Companies Act 2006.
AYLESBURY GRAM SCHOOL FOUNDATION STATEMENT OF FINANCLIL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted R¢$tri¢ted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Notes INCOME AND ENDOWNMENTS FROM: Investtn¢nt 14,081 Charitable activities 5.600 3,776 174,203 192,060 5,600 163,644 18 Total Income 19.681 3.776 174,203 197.660 163,662 EXPENDITURE ON Raising funds Charitsble Activities Other 2,128 26,249 26,341 145 (2,149) 17,793 20,066 24,100 26,341 16,685 119,759 3,284 Totsl Expenditure 54,718 (2,004) 17,793 70,507 139,728 Net Ineome/(expenditure) Trdrn5f b¢twe¢n funds (35.037) 169,988 5.780 156.410 (169,988) 127.153 23,934 134,951 5,780 (13,578) 127,153 23,934 Other recognised gainsl (losses) Gains/(Losses) on investsnent assets 48,551 7,629 444,022 500,202 (67,488) Net Movement in Funds Reconciliation of Funds Totsl Funds brought forward 183,502 13.409 430,444 627,355 (43,554) 536,203 92,036 4,690,296 5,318,535 5,362,089 Tot¥1 Fund carried forward 719,70S iOS,44S 5,120,740 S,945,890 S,318,S35
AYLESBURY GRAMMAR SCHOOL FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2024 nr¢stricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Notes Fixed Assets Tangible assets InvesLn]¢nls 5,000 5,115,740 5,000 5,000 5,670,503 5,174,292 450,230 104,533 450,230 104,533 5.120,740 5,675,503 5,179.292 Current Assets Cash at bank 271,947 4.912 276,859 153,493 271,947 4,912 276,859 153,493 Creditors Amounts falling due within one y¢ar io 2,472 4,000 6,472 14,250 Net Current Assets 269,475 912 270,387 139,243 Total Assets Less Current LlabllStles 719.705 105,445 5,120.740 5,945,890 5,318,535 Funds Unrestri¢t¢d Restricted Endowment 719,705 719,705 536,203 105.445 92,036 5,120,740 5,120,740 4,690,296 105.445 719.705 105,445 5,120,740 5,945,890 5,318,535 Approved by the Board of Truste¢s on ... . . 2025 and signed on its behalf by: K Hardern - Trustse ins - Trustee
AYLESBURY GRAMMAR SCHOOL FOIJNDATION NOTES TO THE AccouNfs FOR THE YEAR ETIDED 31 AUGUST 2024 Accounting Policies The charity constitutes a public benefit entity as defined by FRS 102. The Financial Statements have been prepared in accordance with the Statement of RccoTnmcnded Practice: Accounting and Reporting by Charities pr¢paring their accounts in accordance with the f4inan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) revised Octobcr 2019, and th¢ Financial R¢porting Standard applicable in the United Kingdom, Republic of Ireland (FRS 102) and the Charities Act 201 l and UK General Accepted Practice as it applies from l January 2015. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to Ihe extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) revised October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn The presentation currency of the financial statements is thc pound st¢rling (£) and the financial statements are the rounded to the nearest £. The particular accounting policies are described below: a) Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fix¢d assets. b) Investments The Foundation's policy is to hold investments primarily in order to generate income that can be applied to the charity's objectives. Fixed asset investments are stated at market value. c) Fixed Assets The charity owns land which has planning perniission and has been valued at market value. The charity owns the school site and associated buildings and playing fields. These may only be used for purposes consistent with an ¢du¢ational establishment and therefore have little or no value by thems¢lv¢s. They are excluded from the fanCIal statements. d) Voluntary income All voluntary income is accounted for gross when rcccivcd. Income is stated gross of incomc tax repayments. e) F.xpenditure All expenditure is accounted for gross when incurred. Known expenditure, incurred but not yet paid, is accrued for.
AYLESBURY CRAIAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YFAR ENDED 31 AUGUST 2024 (Continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restrictcd funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The co8l of r4*ising and administering such fund8 a charged against the specific fuiid. The aim and use of each restricted fid is set out in the notes to the financial statements. Endowment funds represent those assets which must be held pennanently by the charity, principally investments. Any capital gains or losses arising on the investments fonn part of the fund. Investment management charges relating to the fLmd are charged against the fund. Investment income and gains are allocatsd to the appropriate fund. Incoming Resources from ChAritable Activities 2024 2023 Rent Other 5,600 18 5,600 18 Charitable Activities Expenditure Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 21123 Payments to Aylesbury Grammar School School Prizes 26,249 3,851 (6,000) 30,100 (6,000) 115,759 4,000 26.249 (2,149) 24,100 119,759 Costs of Generating Funds Unrestricted Funds Restrieted Endowment Funds Totsl Funds Total Funds 2024 2023 Legal & professional costs for invc.%tments 2,128 145 17,793 20,066 16,685 10
AYLESBURY GRAMM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Other Costs Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Auditors, remuncration 1,386 Other expenses 1.990 History ofslhool 16,388 L¢gal and professional expenses 6,577 1,386 1,990 16.388 6,577 1,185 2,099 26,341 26,341 3,284 Comparatives for the Statement of FinanciAI Activities Unrcstricted Restricted Endowment Total Funds Funds Funds Funds 2023 Notes INCOME AND ENDOWNMENTS FROM.. Investment 8,944 Charitable activities 18 3,296 151,404 163,644 18 Total Income 8,962 3,296 151,404 163,662 EXPENDITURE ON Raising funds Charitable Activities Other 1,342 115.759 3,284 82 4,000 15,261 16,685 119,759 3,284 Total Fxpendlture 120,385 4,082 15,261 139.728 Net Income/(expendlture) l TangfeTS between funds (111.423) 129263 (780) 136,143 (129,263) 23,934 17,840 (786) 6,880 23,934 Other recognised gainsl (logses) Gainsl(L055es) on investment assets 3,420 (2,425) (68,483) (67,488) Net Movement ID Funds RteoneiliMtioD of Funds Total Funds brought forward 21,260 (3,211) (61.603) (43.554) 514.943 95.247 4,751,899 5,362,089 Total Fund Carried fonvard 536203 92,036 4,690,296 5,318,535
AYLESBI3RY GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR EM)ED 31 AUGUST 2024 (ContlDued) Comparatives for the Balance Sheet Unrestricted Restricted Endowment Total Funds Funds Funds Funds 2023 Notes Fixed Assets Tangible assets Investments 5,000 4,685,296 5,000 5,174.292 391.949 97,047 391,949 97,047 4,690,296 5,179,292 Current Assets Cash at bank 146,504 6,989 153,493 146,504 6,989 153,493 Creditors Amounts falling due within onc year io 2,250 12,000 14,250 Nct Currcnt Assets 144,254 (5,011) 139,243 Total Assets Less Current Ll8blllties 536,203 92,036 4.690.296 5,318,535 Funds Unrestrlcted Restricted F.ndowment 536,203 536,203 92,036 4,690,296 4,690,296 92,036 536.203 92,036 4.690,296 5.318.535 Tangible Fixed Assets Freehold Land 5,000 Cost or valuation at 31 August 2023 and 31 August 2024 This amount relates to a small parcel of undeveloped land in the Broughton area which the Foundation continues to hold. The Foundation also owns the main school site together with the playing fields in .1 urnfurlong and th¢ Victoria Park site. The Foundation has leased the land and buildings to the Academy Trust on a 125 year lease at nil cost which commenced on l July 201 l. The Trustees have no rÈ8hts to sell or transfer them as long as the lease is in place, and therefore assume no real value. 12
AYLESBIJRY GIl4m SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (Continued) Fixed Asset Investments 2024 2023 Listed investments: Market value at 31 August 2024 Additions Disposals Movement in cash accounl Net (Loss)/Profit on revaluation at 31 August 2024 5.174.292 5,228.323 2,826,570 840,560 (2.602,269) (858,928) 19,719 (16,533) 253,191 (19,130) Market value at 31 August 2024 5,670,503 5,174,292 Historical cost at 31 August 2024 5,215,538 4,991,944 10. Creditors 2024 2023 Amounts falling duc within one year: Accruals and deferred income 6.472 14,250 6,472 14.250 11. Restrlcted Funds Reallsed and Unrealised Gain/ Loss Balance enditure on investments 31 Balance Jncomin 3108 2023 Resources Ex J M Raven fiund School Priz¢ Fund 63.686 28,350 2.651 1.125 (3,996) 6,000 4,521 3,108 66,862 38,583 92,036 3,776 2,004 7,629 105,445 J M Raven Prize This nd was established in 1992 from the Estate of J M Raven. The Trustees may utilise the fund for the objects of the charity, except that no funds shall be appropriated for building work. School Priz¢ Fund This lund was established from various donations. £4,000 was accrued for prizes during the year. 12. Transaetions with Trustees and Connectcd Persons No Trustee or connected person received any remuneration or expenses. (2023 - £Nil). 13. Staff Costs There were no staff costg. (2023 - £Nil). 13