## ENFIELD GRAMMAR SCHOOL FOUNDATION Registered Charity Number: 312627 ## REPORT AND UNAUDITED ACCOUNTS Period ended 1st April 2021 ENFIELD GRAMMAR SCHOOL FOUNDATION ## REPORT AND UNAUDITED ACCOUNTS - PERIOD ENDED 1ST APRIL 2021 |Contents
Report of the trustees
Receipts and payments account
Statement of assets and liabilities
Independent examiner's report|Page| |---|---| ||1
2
3
4| ENFIELD GRAMMAR SCHOOL FOUNDATION page 1 ## REPORT OF THE TRUSTEES ## **Administrative details of the charity and its trustees** The trust was established under a deed of trust dated 19th October 1966. The trust is a registered charity with the Charity Commission under number 312627 The correspondence address is Enfield Grammar School, Market Place, Enfield, EN2 6LN. The trustees who served during the year were as follows: Paul Collard Anna Williams Rev Dr Steve Griffiths Christopher Hide ## **Objects and activities** The objectives are to ensure the income from investments remain high for the full benefit of the school beneficiaries; the boys. The foundation provides specialist benefits of any kind not provided by the Local Education Authority; awarding financial assistance to those going to university, to boys travelling in pursuit of their education, and for the study of music/arts/sciences or otherwise promoting their education. ## **Financial review** The results of the year are shown in the receipts and payments account shown on page 2. There was a decrease in net funds across all bank accounts of £2,858. As shown in the statement of assets and liabilities the investments that the charity holds, had a market value of approximately £497,000 at 1st April 2021. ## **Trustees' responsibilities** The trustees are responsible for preparing the annual report and the accounts in accordance with applicable law and regulations. The trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity and enable them to ascertain the financial position of the charity and which enable them to ensure that the accounts comply with applicable law, regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. > Approved by the trustees on 2022 and signed on their behalf by: `17/01/` Mr Paul Collard - Chair of Trustees ENFIELD GRAMMAR SCHOOL FOUNDATION page 2 ## RECEIPTS AND PAYMENTS ACCOUNT ## FOR THE PERIOD ENDED ## 1ST APRIL 2021 |**Income**
Legacy
Dividends - M&G charifund income
BlackRock-Charinco investment income
Investment income from HL portfolio
HL Investment Sales
Interest
Donation
**Total Income**
**Expenditure**
Purchase of science equipment
Bursaries
Prize Giving reimbursement
Survey fees - School building
Upgrade on school canteen
HL Investment Purchases
IT Project
Professional Fees
**Total Expenditure**
**Net income/(expenditure)**
**before transfers**
**Interfund transfers**
note 1
**Reconciliation of Funds**
Balances at bank
at 1st April 2020
**Balances across bank**
**accounts at 1st April**
**2021**|£
4,251
-
-
-
8
100
**4,359**
-
-
-
-
-
-
-
2,280
**2,280**
**2,079**
-
5,406
**7,485**
**Unrestricted**
**Funds**|**2021**
**Bungey RF**
**Biology RF Shelford RF**
£
£
£
4,842
-
-
733
-
-
7,612
-
-
15,814
-
-
10
-
7
-
-
-
**29,012**
**-**
**7**
-
9,000
-
4,600
-
-
1,602
-
-
-
-
-
-
-
-
16,495
-
-
-
-
-
2,258
-
-
**24,955**
**9,000**
-
**4,057**
**(9,000)**
**7**
999
14,823
(999)
55,559
-
37,121
**60,615**
**5,823**
**36,129**
**Restricted Funds**|£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(14,823)
37,134
**22,311**
**Endowment**
**Funds**|**Total Funds**
£
-
9,093
733
7,612
15,814
25
100
**33,377**
9,000
4,600
1,602
-
-
16,495
-
4,538
**36,235**
**(2,858)**
-
135,220
**132,362**|2020
**Total Funds**
£
-
11,771
619
14,046
5,590
74
-| |---|---|---|---|---|---| ||||||**32,100**| ||||||1,362
7,400
2,280
9,645
10,987
-
12,000
4,845| ||||||**48,519**| ||||||(16,419)
-
151,639| ||||||135,220| ## Note 1 During the preparation of the accounts for the period ended 1st April 2021 it has been identified that expenditure had been charged to the Biology Restricted Fund in the accounts for the period ended 1st April 2019 which should have been debited to the endowment fund. To correct the position and reinstate the fund balance brought forward on the Biology Restricted Fund prior to expenditure of £9,000 being appropriately charged against it in the year under review, a transfer of £14,823 has been effected from the Endowment Fund to the Biology Fund. page 3 ## **ENFIELD GRAMMAR SCHOOL FOUNDATION** ## **STATEMENTS OF ASSETS AND LIABILITIES** ## **AS AT 1ST APRIL 2021** |**Monetary Assets**
Cash at bank
**Investments**
6,590 M&G Charifund
units
7,507 M&G Charifund
units
9,771 BlackRock Charinco
units
Hargreaves Lansdown
managed fund
**Liabilities**
Accountancy and
examination fees|**2021**
£
7,485
-
-
-
-
-
(2,280)
**Unrestricted**
**Funds**|**2021**
**2020**
**2021**
**Bungey RF**
**Biology RF Shelford RF**
£
£
60,615
5,823
36,129
-
-
-
110,534
-
-
18,291
-
-
179,050
-
92,238
307,875
-
92,238
-
-
-
**Restricted Funds**|**2021**
£
22,311
97,032
-
-
-
97,032
-
**Endowment**
**Funds**|**2021**
**Total Funds**
£
132,362
97,032
110,534
18,291
271,288
497,145
(2,280)|2020
**Total Funds**
£
135,220| |---|---|---|---|---|---| ||||||78,782
89,744
18,721
218,855| ||||||406,102| ||||||(2,280)| > Approved by the trustees on 2022 and signed on their behalf by: `17/01/` Mr Paul Collard - Chair of Trustees page 4 ## **Independent Examiner's Report to the Trustees of Enfield Grammar School Foundation** I report to the charity trustees on my examination of the accounts of the charity for the period ended 1st April 2021 which are set out on pages 2-3. ## **Responsibilities and basis of report** The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination. I have no concern and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## RICHARD HILL FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS Date: 17 January 2022