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2023-03-31-accounts

Page No
Report ofthe Governors 1-4
Report ofthe Independent Examiner
Statement
of Financial		 Activities
Balance Sheet
Notes to the Accounts 8-16
Income and Expenditure Account 17


2023.
2023.
2023.





The financial statements comply
with
the Charities		 Act 2011, the Governing Document and 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)
published in October 2019.
Charity Name The Great Yarmouth Grammar School Foundation
Charity Number 325136
Registered Office Great Yarmouth Charter Academy
Salisbury
Road
Great Yarmouth
Norfolk
NR30 4LS
Governors Mr M Boon Chairman
Mr A Hollis Vice Chairman
Rev A Cadmore
Cllr A Grant
Dr B Milner
Mrs D King
Dr H Taylor
Mr G Johnstone
Independent Examiner Mark Proctor FCA DChA
Lovewell
Blake		 LLP
Bankside 300
Broadland
Business		 Park
Peachman
Way
Norwich
Norfolk
NR7 OLB
Bankers Barclays Bank Plc
40-42 Market Place
Great Yarmouth
Norfolk
NR30 1LX

Notes Notes Unrestricted Unrestricted Designated Endowment Endowment Funds Total Total
Funds Fund Prize Other 2023 2022
f Fund
f		 Fund f
Income
Investments 3 28 278 2 292 30570 28362
Total income
Expenditure
Charitable
activities		 4 ~22 073 ~1752 ~23825 I~17 842
Total expenditure 22 073 ~17 2 (~~2 (~1I~4
Net income before
unrealised gains / (losses) on
investments 6,205 540 6,745 10,520
Unrealised (losses)/gains on
on investments 6 ~11955 ~3067 ~20 761 ~35783 61 534
Net income before
transfers
between		 funds (5,750) (2,527) (20,761) (29,038) 72,054
Transfers
between		 funds 10 9336 ~9336)
Net movement
in		 funds 3,586 (9,336) (2,527) (20,761) (29,038) 72,054
Total funds brought forward 10 412828 9336 88243 1254611 1 765018 1 692964
Total funds carried forward 10 CSA14 1.233M% 1232869 1MRG15

Notes 2023 2022
Fixed asset
Investment property 789,225 789,225
Investments portfolio 831,077 866,585
Perpetual
rent charges		 2663 2663
1,622,965 1,658,473
Current assets
Cash at bank and in hand 122866 113 '130
122,866 113,130
Creditors
-amounts
within one year		 falling due ~9851) ~6585)
Net assets +735980 765018
The funds of the Foundation
Endowment
Other 10 1,233,850 1,254,611
Prize funds 10 85,716 88,243
Income funds
Designated 10 9,336
Unrestricted 10 416414 412828

3. Investment
income		 Investment
income
Unrestricted Designated Endowment Funds Total Total
Funds Fund Prize Other 2023 2022
f Fund
f		 Fund f f
Rental income 3,754 3,754
Bank deposit interest 1,335 1,335 31
Investment
income		 23 189 2292 25 481 24 577
~8 2292 - ~ ~283
During the year f28,278 (2022:f22,360)of investment
income
allocated to designated
funds and f2,292 (2022:f2,248) was
in		 was unrestricted,
anil (2022:f3,754) was
relation to the endowment
fund.
Charitable
activities
Unrestricted Designated Endowment Funds Total Total
Funds Fund Prize Other 2023 2022
Fund
f		 Fund
Grants —individuals 1,752 1,752 1,574
Grants - institutions 14,226 14,226 11,046
Governance
costs		 (see below) 784? 7847 5222
Total expenditure 207 1 752 ~825
All grants
payable		 to individuals are made to their respective institutions for passing on to the relevant
pupils and students.
Grants
payable
to		 institutions represent amounts committed by the Governors to the participating
institutions.
During
the year f22,073 (2022:		 f16,268) of charitable activity expenditure was unrestricted, fnil (2022
fnil) was allocated to designated funds and f1,752 (2022:f1,574)was in relation to the endowment fund.
Governance costs
Unrestricted Designated Endowment Funds Total Total
Funds Fund Prize Other 2023 2022
f Fund Fundf f
Examination
fee		 2,900 2,900 1,870
Legal and professional 2,340 2,340
Honorarium 2,100 2,100 2,700
Miscellaneous 507 507 652
7 47 ~77 ~22

5. Investment land and property
As at 1 Revaluation As at 31
April 2022 f March 2023f
Flat Lynn Grove Academy,
Gorleston 28,125 28,125
Land rear of Northgate Street,
Great Yarmouth 100 100
28 225 28 225

Progr amme
Rel		 ated Investments
—P		 roperty
As at 1 Revaluation As at 31
April 2022f March 2023f
Lynn Grove Academy,
Gorleston 500,000 500,000
Great Yarmouth Charter Academy,
Great Yarmouth 261 000 261 000
761 000 761 000
Total investment land and property 78~925 M7~25

Investment
portfolio		 Cashf Investment
f		 Investment
f		 2023
f		 2022
Market value
1 April 2022		 500 866,085 866,585 804,827
Investment
income		 275 275 224
Revaluation
Gains		 )35 783) ~35783) 81 534
Market value 31 March 2023 MQQ 8~77 831~77 866,585
Cost at 31 March 2023 141 4 ~41228
Investments
are represented		 by the following material holdings:-
COIF Charities
Investment		 Fund 87% 87%
Charibonds 6'/ 6'/
Charifunds 7% 7%
Cash held for investment at the year end amounted 0% 0%
tof500 (2022:6500)
Perpetual
rent charges (valued		 at 10years purchase) 2023 2022f
Valuation
1 April 2022		 and 31 March 2023 ~266 ~266
Creditors —Amounts falling due within one year 2023 2022
Due to institutions
for Prize		 Fund income 4,891 3,822
Sundry creditors 4,866 2,500
Other creditors 94 263
~85 ~65

unds
Movement in Funds
Endowments Balance Net income Unrealised Balance
01.04.22 E losses
f		 31.03.2023
Prize funds
Individual prizes 51,737 (1,943) 49,794
Victor Stowers prize 21,643 330 (643) 21,330
AAC Hedges prize 14,863 210 (481) 14,592
Other 1 254611 ~20 761 1 233650
1 342f64 540 1.219.5~6
Movement in Funds
Endowments Balance Net income Unrealised Balance
01.04.21 gains 31.03.2022
F
Prize funds
Individual prizes 47,601 4,136 51,737
Victor Stowers prize 19,805 471 1,367 21,643
AAC Hedges prize 13,636 203 1,024 14,863
Other 1 210704 34 907 1 254 611
674 1~34 854

Balance Net income Net income Unrealised Transfers Balance
01.04.22 f losses 31.03.2023f
Unrestricted Funds 412,828 6,205 (11,955) 9,336 416,414
Designated Funds 9336 i99336
422~14 4~1414
Balance Net income Unrealised Balance
01.04.21 gains 31.03.2022
Unrestricted Funds 386,636 6,092 20,100 412,828
Designated Funds 5 582 3754 9336
392218 9846 42~~64

1 0.
Fun		 ds (continued)
The above funds are represented by:
Unrestricted Designated Endowment Funds Total
Funds Funds Prizes Victor AAC Other 2023
Stowers Hedges
Prize
f
Investments 279,478 49,898 16,498 12,353 472,850 831,077
Property 28,225 761,000 789,225
Perpetual Rent 2,663 2,663
Charge
Cash and bank 111,008 4,787 4,832 2,239 122,866
Current
Liabilities		 4 960 {44891 ~9851
Total Net Assets 41~4~1 48 794 ~0 ~ 1 233 852 ~1980
31 March 2023
Unrestricted Designated Endowment Funds Total
Funds Funds Prizes Victor AAC Other 2022
Stowers Hedges
Prize
f f
Investments 291,158 51,841 17,141 12,834 493,611 866,585
Property 28,225 761,000 789,225
Perpetual Rent 2,663 2,663
Charge
Cash and bank 93,545 9,336 3,718 4,502 2,029 113,130
Current
Liabilities		 2 763 ~3822 ~8585
Total Net Assets 412+28 ~77 ~14 ~1~11 ~17,~I
31 March 2022

2023 2023 2022f
Great Yarmouth
Charter Academy		 —Appointed by the Foundation —Mr A Hollis, Mr M Boon
—Appointed by the Inspiration Trust —Dr B Milner
Prizes and grants ~6 1 000
Amount
payable		 at the year-end 1 855
Lynn Grove Academy —Appointed by the Foundation - Rev A Cadmore
Rent receivable ~4 3+54
Prizes and grants
Amount
payable		 at the year-end 1 200
13. Financial
instruments		 2023 2022
R
Financial assets
Measured
at fair value		 through net income
-Other Investments
(note 6)		 331 Q77 66585

Unrestricted and Designate d Funds:
2023 2022
Income
Charities Official Investment Fund 18,675 18,308
Charibond - income shares 1,076 790
-accumulation shares 275 224
Charifund income shares 3,163 3,007
Rental income 3,754 3,754
Bank deposit interest 1 335 31
27 278 26 114
Expenditure
ADMINISTRATION
Legal and professional 5,240 1,870
Honorarium 2,100 2,700
Miscel!aneous 507 652
7847 5222
AWARDS AND GRANTS
Individual
Annual
grants
East Norfolk Sixth Form College 8,700 4,600
Lynn Grove Academy 1,000
Great Yarmouth Charter Academy 5526 5446
14226 11046