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





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|<br>2023.|<br>2023.|<br>2023.||<br>|<br>|<br>|<br>|<br>|<br>||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The financial|||statements|comply<br>with<br>the Charities|||Act 2011, the Governing|||Document||and Accounting|||and||
|Reporting||by Charities:||Statement<br>of Recommended|||Practice applicable||to charities||preparing||their|accounts||in|
|accordance|||with the Financial||Reporting<br>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<br>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<br>Blake|LLP|||||||||||
||||||Bankside 300||||||||||||
||||||Broadland<br>Business||Park||||||||||
||||||Peachman<br>Way||||||||||||
||||||Norwich||||||||||||
||||||Norfolk||||||||||||
||||||NR7 OLB||||||||||||
|Bankers|||||Barclays Bank Plc||||||||||||
||||||40-42 Market Place||||||||||||
||||||Great Yarmouth||||||||||||
||||||Norfolk||||||||||||
||||||NR30 1LX||||||||||||





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||||||Notes|Notes|Unrestricted|Unrestricted|Designated|Endowment|Endowment|Funds||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Funds|Fund|Prize||Other||2023|2022|
|||||||||f||Fund<br>f||Fund||f||
|Income||||||||||||||||
|Investments|||||||3|28 278||2 292||||30570|28362|
|Total income||||||||||||||||
|Expenditure||||||||||||||||
|Charitable<br>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<br>between|||funds|||||(5,750)||(2,527)||(20,761)||(29,038)|72,054|
|Transfers<br>between|||funds|||10||9336|~9336)|||||||
|Net movement<br>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|





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|||||Notes|2023|2022|
|---|---|---|---|---|---|---|
|Fixed asset|||||||
|Investment|property||||789,225|789,225|
|Investments|portfolio||||831,077|866,585|
|Perpetual<br>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<br>-amounts<br>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|





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|3.|Investment<br>income|Investment<br>income|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted||Designated|||Endowment||||Funds|||Total|||Total|
|||||Funds|Fund|||Prize||||Other|||2023|||2022|
||||||||f|Fund<br>f||||Fund|||f|||f|
||Rental income|||3,754||||||||||||||3,754|
||Bank deposit interest|||1,335|||||||||||1,335|||31|
||Investment<br>income|||23 189|||||2292|||||25 481|||24 577||
|||||~8|||||2292|||-||~|||~283||
||During the year f28,278 (2022:f22,360)of investment<br>income <br>allocated to designated<br>funds and f2,292 (2022:f2,248) was<br>in||||||||was unrestricted,<br>anil (2022:f3,754) was<br> relation to the endowment<br>fund.||||||||||
||Charitable<br>activities||||||||||||||||||
||||Unrestricted||Designated|||Endowment||||Funds|||Total|||Total|
|||||Funds||Fund||Prize||||Other|||2023|||2022|
|||||||||Fund<br>f||||Fund|||||||
||Grants —individuals||||||||1,752||||||1,752|||1,574|
||Grants - institutions|||14,226||||||||||14,226|||11,046||
||Governance<br>costs|(see below)||784?|||||||||||7847|||5222|
||Total expenditure|||207|||||1 752|||||~825|||||
||All grants<br>payable|to individuals||are made|to their|respective|||institutions|||for passing|||on to|the|relevant||
||pupils and students.||||||||||||||||||
||Grants<br>payable<br>to|institutions||represent|amounts|committed|||by the||Governors||||to the|participating|||
||institutions.||||||||||||||||||
||During<br>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<br>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|





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|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|



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|Progr|amme<br>Rel|ated Investments<br>—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|





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|Investment<br>portfolio|||||Cashf|Investment<br>f|Investment<br>f|2023<br>f|2022|
|---|---|---|---|---|---|---|---|---|---|
|Market value<br>1 April 2022|||||500|866,085||866,585|804,827|
|Investment<br>income|||||||275|275|224|
|Revaluation<br>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<br>are represented||||by|the following|material|holdings:-|||
|COIF Charities<br>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<br>rent charges (valued|||||at 10years|purchase)||2023|2022f|
|Valuation<br>1 April 2022|and||31 March 2023|||||~266|~266|
|Creditors —Amounts|falling|||due within one year||||2023|2022|
|Due to institutions<br>for Prize|||Fund||income|||4,891|3,822|
|Sundry creditors||||||||4,866|2,500|
|Other creditors||||||||94|263|
|||||||||~85|~65|



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|unds||||||
|---|---|---|---|---|---|
||||Movement|in Funds||
|Endowments||Balance|Net income|Unrealised|Balance|
|||01.04.22|E|losses<br>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|





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|||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|





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|1|0.<br>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<br>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<br>Liabilities||2 763|||~3822||||~8585|
|Total Net|Assets|412+28|||~77||~14|~1~11|~17,~I|
|31 March|2022|||||||||





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||||||2023|2023|2022f|
|---|---|---|---|---|---|---|---|
||Great Yarmouth<br>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<br>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<br>payable|at the|year-end||||1 200|
|13.|Financial<br>instruments||||2023||2022|
|||||||R||
||Financial assets|||||||
||Measured<br>at fair value|through|net|income||||
||-Other Investments<br>(note 6)||||331|Q77|66585|





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|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<br>grants||||||
||East Norfolk Sixth||Form College|8,700|4,600|
||Lynn Grove Academy||||1,000|
||Great Yarmouth|Charter Academy||5526|5446|
|||||14226|11046|