2025-03-31-accounts

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION

ACCOUNTS

31 MARCH 2025

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION

YEAR ENDED 31 MARCH 2025

CONTENTS

	Page No
Report of the Trustees	1-4
Report of the Independent Examiner	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Accounts	8-16
Income and Expenditure Account	17

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2025

The Trustees present their report and unaudited financial statements of the charity for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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 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
Trustees	Dr H Taylor	Chairman
	Mr A Hollis	Vice Chairman
	Rev A Cadmore
	Dr B Milner
	Cllr C Smith
	Mr I Macdonald
	Ms J Barron-Alcock
	Mr F Vettese
	Mr M Boon (deceased 23 May 2024)
Independent Examiner	Mark Proctor FCA DChA
	Lovewell Blake LLP
	Bankside 300
	Broadland Business Park
	Peachman Way
	Norwich
	Norfolk
	NR7 0LB
Bankers	Barclays Bank Plc
	40-42 Market Place
	Great Yarmouth
	Norfolk
	NR30 1LX

1

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION TRUSTEES REPORT YEAR ENDED 31 MARCH 2025

Objectives and Activities

General Fund

The Foundation’s investment income is used to finance projects undertaken by participating institutions and making grants available to pupils and students within these institutions. The participating institutions are Lynn Grove Academy, Great Yarmouth Charter Academy, Cliff Park Ormiston Academy, Ormiston Venture Academy and East Norfolk Sixth Form College.

Book prizes

The Foundation receives investment income dedicated to prize funds for pupil and student achievements. The Foundation met this objective by distributing its income as prize funds.

Public benefit

The Trustees have taken due regard to guidance published by the Charity Commission on public benefit. It is considered that the Foundation provides a public benefit through its payment of prizes to those students of outstanding educational achievement. The prizes are available to all pupils and students within the selected institutions.

Achievements and Performance

The Foundation allocated prizes amounting to £1,482 (2024: £2,052) and grants amounting to £70,914 (2024: £15,500).

Financial Review

The Foundation has a net expenditure over income in the year totalling £45,436 (2024: £6,315) as shown on page 6 of the accounts. There were unrealised losses on investments amounting to £35,362 (2024: gains £65,542). Total funds at the year-end amounted to £1,714,409 (2024: £1,795,207).

Reserves Policy

The policy on reserves is that there needs to be sufficient funds generated from the investments to service the principal objectives of paying Book Prizes and annual grants to the four academies and sixth form college year on year.

As of 31 March 2025, the Foundation had unrestricted free reserves amounting to £373,415 (2024: £431,166), together with and Endowment Funds of £1,340,994 (2024: £1,364,041).

Investment Policy

The investments are managed by the Trustees in order to be able to provide grants and support to the institutions and their pupils and students on an ongoing basis

The investments of the Foundation are held in the Charities Official Investment Fund and M&G Charity Investment Funds.

Plans for Future Periods

The Trustee’s plans are to continue to undertake the principal objectives of providing Book Prizes and annual grants to the four academies and the East Norfolk Sixth Form College.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION TRUSTEES REPORT YEAR ENDED 31 MARCH 2025

Structure, Governance and Management

Governing Document

The Foundation is registered with the Charity Commission. It is administered under a Scheme of the Charity Commission dated 24 November 1983 as amended on 13 March 2018.

Recruitment, Appointment and Training of Trustees

The method adopted for the recruitment and appointment of the Trustees is such that the members respectively represent:

The two local Parishes (in Great Yarmouth and Gorleston), The University of East Anglia, The Great Yarmouth Borough Council and Norfolk County Council.

A further four Trustees shall be appointed following recommendations by current Trustees, who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the Foundation.

All new Trustees are provided with:

• The governing document of the Foundation

• The latest accounts of the Foundation

• Details of the Charity Commission guidance notes The Essential Trustee “What you need to know, What you need to do”

Michael Boon, who died on the 23rd May 2024, was the Chair for the Great Yarmouth Grammar School Foundation since 2011. Michael led the foundation through a significant period of change. Throughout his period as Chair he ensured that the good work of the foundation was realised as many young people benefited with tremendous prizes and opportunities which came through the charitable work of the foundation. He was passionate about Great Yarmouth and the importance of having opportunities to grow and develop the young people across the community. The Trustees thank Michael Boon for his wonderful years of service, commitment and talent.

Risk Management

The Trustees acknowledge the Charity Commission’s recommendations that they undertake a review of the major risks to which the Foundation is exposed. This is carried out on an ongoing basis.

Related Parties

This charity is connected with The Great Yarmouth Exhibition Foundation. The two charities have common Trustees and are administered commonly at the same registered office. There are no transactions between the charities and the Trustees do not consider it appropriate to consolidate the results as the charities have different objectives.

Organisational Structure

All decisions are made democratically at the Trustees meetings.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION TRUSTEES REPORT YEAR ENDED 31 MARCH 2025

True and Fair Override

The accounts (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 the extent required to provide a "true and fair view". This departure has involved following Accounting and Reporting by charities by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Independent Examiner

A resolution to reappoint Mark Proctor FCA DChA of Lovewell Blake LLP as independent examiner will be proposed at the next Annual General Meeting.

Signed on behalf of the Trustees on 19 November 2025.

F VETTESE Chairman

A HOLLIS Vice Chairman

4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION FOR THE YEAR ENDED 31 MARCH 2025

I report to the Foundation Trustees on my examination of the accounts of the Foundation for the year ended 31 March 2025 which are set out on pages 6 to 17.

Responsibilities and basis of report

As the charity’s Trustees you 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the 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.

Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practices issues on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have no other concerns 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.

Mark Proctor FCA DChA Independent Examiner Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

13 January 2026

5

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

NotesUnrestricted Designated Funds Fund £ £ Income Investments 3 33,429 - Total income 33,429 - Expenditure Charitable activities 4 (79,722) - Total expenditure (79,722) - Net (expenditure)/income before unrealised gains / (losses) on investments (46,293) - Unrealised gains/(losses) on on investments 6 (11,458) - Net income/(expenditure) before transfers between funds (57,751) - Transfers between funds 10 - - Net movement in funds (57,751) - Total funds brought forward 10 431,166 - Total funds carried forward 10 373,415 -	Endowment Funds Total Prize Other 2025 Fund Fund £ £ £ 2,339 - 35,768 2,339 - 35,768 (1,482) - (81,204) (1,482) - (81,204) 857 - (45,436) (4,006) (19,898) (35,362) (3,149) (19,898) (80,798) - - - (3,149) (19,898) (80,798) 93,189 1,270,852 1,795,207 90,040 1,250,954 1,714,409	Total 2024 £ 34,724 34,724 (41,039) (41,039) (6,315) 65,542 59,227 - 59,227 1,735,980 1,795,207

The notes set out on pages 8 to 17 form an integral part of these accounts

6

THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION BALANCE SHEET 31 MARCH 2025

Notes Fixed asset Investment property 5 Investments portfolio 6 Perpetual rent charges 7 Current assets Cash at bank and in hand Creditors - amounts falling due within one year 8 Net assets The funds of the Foundation Endowment Other 10 Prize funds 10 Income funds Designated 10 Unrestricted 10	2025 £ 789,225 862,390 2,663 1,654,278 108,832 108,832 (48,701) 1,714,409 1,250,954 90,040 - 373,415 1,714,409	2024 £ 789,225 897,095 2,663 1,688,983 116,314 116,314 (10,090) 1,795,207 1,270,852 93,189 - 431,166 1,795,207

These accounts were approved by the Trustees on 19 November 2025.

F VETTESE – Chairman

A HOLLIS – Vice Chairman

The notes set out on pages 8 to 17 form an integral part of these accounts

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

1. General information

The charity is an unincorporated charitable foundation, registered as a charity in England and Wales. The address of the registered office is as detailed on page 1 of the accounts.

2.

Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of Accounting

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation:

The accounts have been prepared using historical cost basis as modified for certain assets at fair value, in accordance with 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, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

The accounts (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 the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS 102.

• (b) Fund accounting

• Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation.

• Endowment fund is invested in charitable bonds in order to produce income, which is then spent on furthering the charities activities.

• Designated funds are unrestricted funds earmarked by the Trustee for particular future purpose.

(c) Income

All income is accounted for on a received basis, except for rent charges and other income, which are recorded on a receivable basis.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

(d) Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• Charitable activities comprise those costs incurred by the Foundation in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Foundation and include accountancy fees and costs linked the strategic management of the Foundation.

(e)

Investments

Stocks and shares quoted on a recognised stock exchange are included in the balance sheet at their mid-market value at the year end. The differences between market value and the original cost of the investments are shown as unrealised investment gains or losses and transferred to the statement of financial activities.

Property investments

Property investments are included in the balance sheet at the market value, based on a valuation carried out by Aldreds Chartered Surveyors on 1 December 2017, reviewed in October 2025. The land continues to be included in accordance with the 1958 valuation, as the Trustees are not able to determine the precise value without incurring unnecessary costs.

Programme related investments – properties

Properties leased to further the charitable objects of the Foundation have been recognised based on a valuation carried out by Aldreds Chartered Surveyors on 1 December 2017, reviewed in October 2025. Details of the valuation are in note 5 to the financial statements.

• (f) Grants payable

Grants are awarded at the discretion of the Trustees and are accounted for on a payable basis.

• (g) Cash at bank

Cash at bank includes cash and a short term highly liquid deposit account.

• (h) Creditors

Creditors with no stated interest and payable within one year are recorded at transaction price.

• (i) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Foundation to be able to continue as a going concern.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

3. Investment income

Unrestricted Designated Endowment Funds Funds Fund Prize Other Fund Fund £ £ £ £ Rental income 3,754 - - - Bank deposit interest 4,593 - - - Investment income 25,082 - 2,339 - 33,429 - 2,339 -	Total 2025 £ 3,754 4,593 27,421 35,768	Total 2024 £ 3,754 4,734 26,236 34,724

During the year £33,429 (2024: £32,432) of investment income was unrestricted, £Nil (2024: £Nil) was allocated to designated funds and £2,339 (2024: £2,292) was in relation to the endowment fund.

4. Charitable activities

Unrestricted Designated Endowment Funds Funds Fund Prize Other Fund Fund £ £ £ £ Grants – individuals - - 1,482 - Grants - institutions 70,914 - - - Other charitable expenditure - - - - Governance costs (see below) 8,808 - - - Total expenditure 79,722 - 1,482 -	Total 2025 £ 1,482 70,914 - 8,808 81,204	Total 2024 £ 2,052 15,500 17,124 6,363
		41,039

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 Trustees to the participating institutions.

During the year £79,722 (2024: £38,987) of charitable activity expenditure was unrestricted, £nil (2024: £nil) was allocated to designated funds and £1,482 (2024: £2,052) was in relation to the endowment fund.

Governance costs

Governance costs
Unrestricted Designated Endowment Funds Fund Prize Fund £ £ £ Examination fee 2,958 - - Legal and professional 630 - Honorarium 2,620 - - Miscellaneous 493 - - Website creation 2,107 - - 8,808 - -	Funds Other Fund £ - - - - - -	Total 2025 £ 2,958 630 2,620 493 2,107 8,808	Total 2024 £ 3,078 552 2,250 483 -
			6,363

During the year £8,808 (2024: £6,363) of governance cost expenditure was unrestricted, and £nil (2024: £nil) was allocated to designated funds and £nil (2024: £nil) was in relation to the endowment fund.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

5.	Investment land and property
		As at 1	Revaluation	As at 31
		April 2024		March 2025
		£	£	£
	Flat Lynn Grove Academy,
	Gorleston	28,125	-	28,125
	Land rear of Northgate Street,
	Great Yarmouth	100	-	100
		28,225	-	28,225

Land and property were initially revalued in 1958 at market value with existing use basis by a professional firm of surveyors. The flat at Lynn Grove Academy was revalued on 1 December 2017, reviewed in October 2025, by Aldreds Chartered Surveyors and is now shown at market value. The land continues to be shown at the valuation of 1958.

Programme Related Investments – Property

	As at 1	Revaluation	As at 31
	April 2024		March 2025
	£	£	£
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	789,225	-	789,225

The property investments above are included in the balance sheet at the market value, based on valuations carried out by Aldreds Chartered Surveyors on 1 December 2017, reviewed October 2025.

The market value of the freehold property of Lynn Grove Academy has been valued at £500,000. This value is derived from the current land value deferred by a period which acknowledges the Supplementary Agreement which allows the academy to occupy the land and buildings on a 2 year rolling period. The land value is £200,000 per acre at 1 December 2017 and therefore the value of the entire site prior to deferment is £1,000,000.

The market value of the freehold in the property of Great Yarmouth Charter Academy is £261,000. The depreciated replacement cost on the assumption the school could be rebuilt for £10,000,000 at an adopted rate of 8% over 30 years is £993,000. The valuation figure is derived from a 30 year deferment of the current land value at 1 December 2017, being £1,500,000.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

6. Investment portfolio Cash Investment 2025 £ £ £ Market value 1 April 2024 500 896,595 897,095 Investment income - 657 657 Revaluation Gains - (35,362) (35,362) Market value 31 March 2025 500 861,890 862,390 Cost at 31 March 2025 141,498 Investments are represented by the following material holdings:- COIF Charities Investment Fund 87% Charibonds 6% Charifunds 7% Cash held for investment at the year end amounted 0% to £500 (2024: £500) 7. Perpetual rent charges (valued at 10 years purchase) 2025 £ Valuation 1 April 2024 and 31 March 2025 2,663 8. Creditors – Amounts falling due within one year 2025 £ Due to institutions for Prize Fund income 7,031 Due to schools for Grants awarded 38,000 Sundry creditors 3,670 Other creditors - 48,701

2024 £ 831,077 476 65,542 897,095 141,498 88% 6% 6% 0% 2024 £ 2,663 2024 £ 5,946 - 4,050 94 10,090

9. Trustees Remuneration

The Trustees were not entitled to and received no remuneration or expenses from the charity during the year for being a Trustee.

During the year Mr M Boon received £nil (2024: £94) relating to reimbursed expenses.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

10. Funds

Endowments Prize funds Individual prizes Victor Stowers prize AAC Hedges prize Other	Movement in Funds Balance 01.04.24 Income Expenditure Unrealised gains Balance 31.03.2025 £ £ £ £ 54,377 1,482 (1,482) (2,539) 51,838 23,075 490 - (839) 22,726 15,737 367 - (628) 15,476 1,270,852 - - (19,898) 1,250,954 1,364,041 2,339 (1,482) (23,904) 1,340,994	Movement in Funds Balance 01.04.24 Income Expenditure Unrealised gains Balance 31.03.2025 £ £ £ £ 54,377 1,482 (1,482) (2,539) 51,838 23,075 490 - (839) 22,726 15,737 367 - (628) 15,476 1,270,852 - - (19,898) 1,250,954 1,364,041 2,339 (1,482) (23,904) 1,340,994
		1,340,994

Endowments Prize funds Individual prizes Victor Stowers prize AAC Hedges prize Other	Movement in Funds Balance 01.04.23 Income Expenditure Unrealised gains Balance 31.03.2024 £ £ £ £ 49,794 1,452 (1,452) 4.583 54,377 21,330 480 (250) 1,515 23,075 14,592 360 (350) 1,135 15,737 1,233,850 - - 37,002 1,270,852 1,319,566 2,292 (2,052) 44,235 1,364,041	Movement in Funds Balance 01.04.23 Income Expenditure Unrealised gains Balance 31.03.2024 £ £ £ £ 49,794 1,452 (1,452) 4.583 54,377 21,330 480 (250) 1,515 23,075 14,592 360 (350) 1,135 15,737 1,233,850 - - 37,002 1,270,852 1,319,566 2,292 (2,052) 44,235 1,364,041
		1,364,041

The prize funds were established to provide income for annual book prizes to be awarded to outstanding pupils and students.

The other endowment funds are from donations to the Foundation together with monies re-invested from ground rents disposals and other income and property owned by the Foundation. The fund is represented by investments and investment property.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

10. Funds (continued)

Unrestricted Funds Designated Funds Unrestricted Funds Designated Funds	Balance 01.04.24 Income Expenditure Unrealised gains Transfers Balance 31.03.2025 £ £ £ £ £ 431,166 33,429 (79,722) (11,458) - 373,415 - - - - - - 431,166 33,429 (79,722) (11,458) - 373,415 Balance 01.04.23 Income Expenditure Unrealised losses Transfers Balance 31.03.2024 £ £ £ £ £ 416,414 32,432 (38,987) 21,307 - 431,166 - - - - - - 416,414 32,432 (38,987) 21,307 - 431,166

The unrestricted funds are to provide financial assistance to participating institutions with approved projects and grants to deserving students.

The designated fund represents funds allocated by the Trustees towards costs related to discussions regarding property matters at Great Yarmouth Charter Academy.

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

10. Funds (continued)

The above funds are represented by:

Unrestricted Designated Funds Funds £ £ Investments 290,460 - Property 28,225 - Perpetual Rent Charge 2,663 - Cash and bank 93,737 - Current Liabilities (41,670) - Total Net Assets 31 March 2025 373,415 - Unrestricted Designated Funds Funds £ £ Investments 301,261 - Property 28,225 - Perpetual Rent Charge 2,663 - Cash and bank 103,161 - Current Liabilities (4,144) - Total Net Assets 31 March 2024 431,166 -	Endowment Funds Prizes Victor Stowers AAC Hedges Prize £ £ £ 51,942 17,174 12,860 - - - - - - 6,927 5,552 2,616 (7,031) - - 51,838 22,726 15,476 Endowment Funds Prizes Victor Stowers AAC Hedges Prize £ £ £ 54,481 18,013 13,488 - - - - - - 5,842 5,062 2,249 (5,946) - - 54,377 23,075 15,737	Other £ 489,954 761,000 - - - 1,250,954 Other £ 509,852 761,000 - - - 1,270,852		Total 2025 £ 862,390 789,225 2,663 108,832 (48,701)
				1,714,409
				Total 2024 £ 897,095 789,225 2,663 116,314 (10,090)
				1,795,207

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025

11. Connected charity

This charity is connected with The Great Yarmouth Exhibition Foundation. The two charities have common Trustees and are administered commonly at the same registered office. There are no material transactions between the charities and the Trustees do not consider it appropriate to consolidate the results as the charities have different objectives.

12. Related party transactions

The following prizes were paid and payable to Academies at which the Foundation’s Trustees were Trustees:

			2025		2025
			£		£
	Great Yarmouth Charter Academy	– Appointed by	the Foundation – Mr A Hollis
		– Appointed by	the Inspiration Trust – Dr B Milner – until 18 November
		2025, Cllr C Smith – appointed 19 November			2025
	Prizes and grants		15,654	10,140
	Amount payable at the year-end		3,789		3,135
	Lynn Grove Academy	– Appointed by	Great Yarmouth Borough Council – Cllr C Smith
	Rent receivable		3,754		3,754
	Prizes and grants		33,837		415
	Amount payable at the year-end		2,453		2,030
	East Norfolk Sixth Form College	– Appointed by	Great Yarmouth Borough Council – Cllr C Smith
	Prizes and grants		22,905		6,397
	Amount payable at the year-end		788		780
13.	Financial instruments		2025		2024
			£		£
	Financial assets
	Measured at fair value through net	income
	-Other Investments (note 6)		862,390	897,095

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THE GREAT YARMOUTH GRAMMAR SCHOOL FOUNDATION INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025

Unrestricted and Designated Funds: Income Charities Official Investment Fund Charibond - income shares - accumulation shares Charifund income shares Rental income Bank deposit interest Expenditure ADMINISTRATION Legal and professional Honorarium Miscellaneous AWARDS AND GRANTS Annual grants East Norfolk Sixth Form College Other charitable expenditure Great Yarmouth Charter Academy Lynn Grove Academy Surplus (expenditure over income)	2025 £ 19,049 1,748 657 3,628 3,754 4,593 33,429 3,588 2,620 493 8,808 22,500 - 15,000 33,414 70,914 (46,293)	2024 £ 18,675 1,345 476 3,448 3,754 4,734 32,432 3,630 2,250 483 6,363 6,000 17,124 9,500 - 32,624 (6,555)

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