| Page | ||||||
|---|---|---|---|---|---|---|
| Reference | and administrative | details | ||||
| Trustees' | report | 2-6 | ||||
| Trustees' | responsibilities statement |
|||||
| Independent auditor's |
report to the members | ofThe Royal Grammar | School Educational | 8-11 | ||
| Trust | ||||||
| Statement | offinancial | activities | 12 | |||
| Balance sheet | 13 | |||||
| Statement | ofcash flows | |||||
| Notes to the financial | statements | 15-28 |
| Trustees | Mr M Squires, Chair (co-opted) Mrs J Drummond (Chair ofthe Board |
Mr M Squires, Chair (co-opted) Mrs J Drummond (Chair ofthe Board |
Mr M Squires, Chair (co-opted) Mrs J Drummond (Chair ofthe Board |
ofGovernors | ofGovernors | ofGovernors | ofthe | Royal | Grammar School) | Grammar School) | Grammar School) | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dr P Haggie (ex officio) (appointed | 21 October | 2020) | ||||||||||
| MrJ Marks (co-opted) Mr N McMinn (appointed |
by the | Governors | of the | Royal | Grammar | School) | ||||||
| (appointed 13October 2020) |
||||||||||||
| Mr N Paton (co-opted) Mr G Stanford (appointed |
by the Governors | of | the | Royal | Grammar | School) | ||||||
| Charity registered number |
508285 | |||||||||||
| Principal office | Eskdale Terrace | |||||||||||
| Newcastle upon Tyne |
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| NE2 4DX | ||||||||||||
| Secretary to | the Trust | CBlack | ||||||||||
| Independent | auditor | UNW LLP Chartered Accountants |
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| Citygate | ||||||||||||
| StJames' Boulevard | ||||||||||||
| Newcastle upon Tyne |
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| NE1 4JE | ||||||||||||
| Bankers | Bank ofScotland | |||||||||||
| Time Central | ||||||||||||
| Newcastle upon Tyne |
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| NE1 4SR | ||||||||||||
| Barclays Bank pic | ||||||||||||
| PO Box379 | ||||||||||||
| 71 Grey Street | ||||||||||||
| Newcastle upon Tyne |
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| NE99 1JA | ||||||||||||
| Investment | advisors | CCLA | ||||||||||
| Senator House | ||||||||||||
| 85Queen Victoria Street | ||||||||||||
| London | ||||||||||||
| EC4V 4ET |
| Unrestricted | Restricted | Endowment | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||||
| 2021 | 2021 | 2021 | 2021 | 2020 | |||||
| Note | |||||||||
| Income and | |||||||||
| endowments | from: | ||||||||
| Donations and |
legacies | 889,230 | 10,406 | 899,636 | 693,595 | ||||
| Investments | 138,093 | 18,475 | 156,568 | 121,436 | |||||
| Total income | and | ||||||||
| endowments | 1,027,323 | 28,881 | 1,056,204 | 815,031 | |||||
| Expenditure | on: | ||||||||
| Raising funds | 1,114 | 28 | 30 | 1,172 | 28,015 | ||||
| Charitable activities |
745,619 | 93,656 | 839,275 | 668,405 | |||||
| Total expenditure | 746,733 | 93,684 | 30 | 840,447 | 696,420 | ||||
| Net gains/{losses) | on | ||||||||
| Investments | 636,281 | 15,732 | 40,673 | 692,686 | (264,944) | ||||
| Net | |||||||||
| income/(expenditure) Transfers between |
916,871 | (49,071) | 40,643 | 90&,443 | (146,333) | ||||
| funds | (1,631) | 5,933 | (4,302) | ||||||
| Net movement funds |
in | 915,240 | {43,138) | 36,341 | 908,443 | (146,333) | |||
| Reconciliation | of | ||||||||
| funds: | |||||||||
| Total funds brought | |||||||||
| forward | 4,198,444 | 393,984 | 247,884 | 4,840,312 | 4,986,645 | ||||
| Net movement | in funds | 915,240 | (43,138) | 36,341 | 908,443 | (146,333) | |||
| Total funds carried forward |
5,113,684 | 350,846 | 284,225 | 5,748,755 | 4,840,312 |
| Note | 2021f | 2020 P |
|||||
|---|---|---|---|---|---|---|---|
| Fixed assets | |||||||
| Investments | 4,870,152 | 4,178,006 | |||||
| Current assets | |||||||
| Debtors | 86,883 | 333,868 | |||||
| Cash at bank | and in | hand | 796,038 | 331,838 | |||
| 882,921 | 665,706 | ||||||
| Creditors: amounts year |
falling due within one | 10 | (4,318) | (3,400) | |||
| Net current | assets | 878,603 | 662,306 | ||||
| Total assets | less current liabilities | 5,748,755 | 4,840,312 | ||||
| Total net assets | 5,748,755 | 4,840,312 | |||||
| Charity funds | |||||||
| Endowment | funds | 11 | 284,225 | 247,884 | |||
| Restricted funds | 11 | 350,846 | 393,984 | ||||
| Unrestricted | funds | 11 | 5,113,684 | 4,198,444 | |||
| Total funds | 5,748,755 | 4,840,312 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | P | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating | activities | 307,093 | (275,546) | |||
| Cash flows from investing | activities | |||||
| Dividends, interests and rents from investments |
156,568 | 121,436 | ||||
| Proceeds from sale afinvestments | 1,472,220 | 2,841,046 | ||||
| Purchase ofinvestments | (1,471,681) | (2,959,714) | ||||
| Net cash provided by investing activities |
157,107 | 2,768 | ||||
| Change in cash and cash |
equivalents in |
the year | 464,200 | (272,778) | ||
| Cash and cash equivalents | at the beginning | ofthe year | 331,83& | 604,616 | ||
| Cash and cash equivalents | at the end of | the year | 14 | 796,038 | 331,838 | |
| The notes on pages 15to 28 form part ofthese financial | statements |
| Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| Charitable | trusts | 13,000 | 13,000 | |||
| Legacies | 170,888 | 170,888 | ||||
| The Newcastle | upon Tyne Royal Grammar | School | 396,928 | 396,928 | ||
| Individuals | 308,414 | 10,406 | 318,820 | |||
| 889,230 | 10,406 | 899,636 |
| Unrestricted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2020 | 2020f | ||||
| Charitable | trusts | 8,500 | 8,500 | ||
| The Newcastle | upon Tyne Royal Grammar | School | 284,259 | 284,259 | |
| Individuals | 400,836 | 400,836 | |||
| 693,595 | 693,595 |
| Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2021 f |
2021 | 2021 | ||||
| Income | from | listed | investments | 138,093 | 18,475 | 156,568 |
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2020 | 2020 | 2020 | ||||
| Income | from | listed | investments | 103,598 | 17,838 | 121,436 |
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2021f | 2021 | 2021f | 2021 f. |
|
| Fees | 1,114 | 28 | 30 | 1,172 |
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2020 | 2020 | 2020 | 2020f | |
| Fees | 24,265 | 2,220 | 1,530 | 28,015 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | ||||
| Charitable | activities | 745,619 | 93,656 | 839i275 |
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2020 | 2020 | 2020 | ||
| F | E | |||
| Charitable | activities | 571,280 | 97,125 | 668,405 |
| Direct | Support | Total | ||
|---|---|---|---|---|
| costs | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| K | ||||
| Grants awarded | 828,468 | 10,807 | 839,275 | |
| Direct | Support | Total | ||
| costs | costs | funds | ||
| 2020 | 2020 | 2020 | ||
| F | F | |||
| Grants awarded | 665,575 | 2,830 | 668,405 | |
| Analysis | ofsupport costs |
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Special | project expenses | 6,945 | |
| Auditor's | remuneration | 3,620 | 2,700 |
| Bank charges | 242 | 130 | |
| 10,807 | 2,830 |
| Fixed asset investments | |
|---|---|
| Listed | |
| investments | |
| F | |
| Cost orvaluation | |
| At 1 August 2020 | 4,178,006 |
| Additions | 1,471,681 |
| Disposals | (1,438,719) |
| Revaluations | 659,184 |
| At 31July 2021 | 4,870,152 |
| Net book value | |
| At 31July 2021 | 4,870,152 |
| At 31 July 2020 | 4 178006 |
| Debtors | |||
|---|---|---|---|
| 2021 | 2020 | ||
| E | |||
| Other debtors | 10,406 | 333,868 | |
| Prepayments | and accrued income | 76,477 | |
| 86,883 | 333,868 |
| Creditors: amounts falling due within one year |
||
|---|---|---|
| 2021 | 2020 | |
| E | ||
| Other creditors | 154 | |
| Accruals and deferred income | 4,164 | 3,400 |
| 4,318 | 3,400 |
| 11. | Statement | offunds | ||||||
|---|---|---|---|---|---|---|---|---|
| Statement | offunds | - current year | ||||||
| Balance at 1 | Transfers | Gains/ | Balance at | |||||
| August 2020 | Income f |
Expenditure | in/out | (Losses) | 31July 2021 | |||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| John Cockburn | ||||||||
| Macdonald | ||||||||
| Memorial | Fund | 68,436 | 2,318 | (19) | 10,680 | 81,415 | ||
| Stemson Fund |
47,687 | 11615 | (13) | 7,442 | 56,731 | |||
| Bursary | ||||||||
| Campaign | ||||||||
| Fund | 632,073 | 21,408 | (734,985) | 98,641 | 17,137 | |||
| Wolfson | ||||||||
| Foundation | ||||||||
| Bursary Fund | 272,456 | 9,228 | P4) | 42,519 | 324,129 | |||
| 1,020,652 | 34,569 | (735,091) | 159,282 | 479,412 | ||||
| General funds | ||||||||
| General Fund |
3,177,792 | 992,754 | (11,642) | (1,631) | 476,999 | 4,634,272 | ||
| Total | ||||||||
| unrestricted | ||||||||
| funds | 4,198,444 | 1,027,323 | (746,733) | (1,631) | 636,281 | 5,113,684 | ||
| Endowment | ||||||||
| funds | ||||||||
| Ritchie Fund | 247,884 | (30) | (4,302) | 40,673 | 284,225 |
| Stateme | nt offu | nds (continued) | |||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | Balance at | ||||
| August 2020 | Income | Expenditure | in/out | (Losses) | 31July 2021f | ||
| Restricted | |||||||
| funds | |||||||
| Red Box Fund | 353 | 12 | 55 | 420 | |||
| Stokoe | Fund | (1,371) | (46) | 1,631 | (214) | ||
| Coomblea Trust | 8,899 | 301 | (2) | 1,389 | 10,587 | ||
| Recce | |||||||
| Foundation | 70,573 | 12,797 | (52,051) | 11,014 | 42,333 | ||
| Ratcliff | Fund | 2,175 | 74 | (1) | 339 | 2,587 | |
| Ritchie | Fund | 8,108 | 8,856 | (13,877) | 4,302 | 1,265 | 8,654 |
| Kenneth | Halton | ||||||
| Imison | Fund | 11,218 | 380 | (3) | 1,751 | 13,346 | |
| Dr Carr | Fund | 854 | 29 | 133 | 1,016 | ||
| Advani | Fund | 195,109 | 4,311 | (13,875) | 185,545 | ||
| Flagstone Fund |
98,066 | 2,167 | (13,875) | 86,358 | |||
| 393,984 | 28,881 | (93,684) | 5,933 | 15,732 | 350,846 | ||
| Total offunds | 4,840,312 | 1,056,204 | (840,447) | 692,686 | 5,748,755 |
| 11. | Statement offunds | Statement offunds | (continued) | |||||
|---|---|---|---|---|---|---|---|---|
| Statement offunds | - prior year | |||||||
| Balance at | ||||||||
| 1 August | Transfers | Gains/ | Balance at | |||||
| 2019 | Income | Expenditure | in/out | (Losses) | 31 July 2020 | |||
| F | E | F | ||||||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| John Cockburn | ||||||||
| Macdonald | ||||||||
| Memorial | Fund | 71,186 | 1,861 | (436) | (4,175) | 68,436 | ||
| Stemson Fund |
49,603 | 1,297 | (304) | (2,909) | 47,687 | |||
| Bursary | ||||||||
| Campaign | ||||||||
| Fund | 1,248,747 | 32,654 | (576,098) | (73,230) | 632,073 | |||
| Wolfson | ||||||||
| Foundation | ||||||||
| Bursary Fund | 283,400 | 7,411 | (1,736) | (16,619) | 272,456 | |||
| 1,652,936 | 43,223 | (578,574) | (96,933) | 1,020,652 | ||||
| General funds | ||||||||
| General Fund |
2,397,923 | 753,970 | (16,971) | 177,993 | (135,123) | 3,'I 77,792 | ||
| Total | ||||||||
| Unrestricted | ||||||||
| funds | 4,050,859 | 797,193 | (595,545) | 177,993 | (232,056) | 4,198,444 | ||
| Endowment | ||||||||
| funds | ||||||||
| Ritchie Fund | 254,723 | (1,530) | 6,047 | (11,356) | 247,884 |
| Statement offund | s (continued) | |||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| 1 August 2019 |
Income | Expenditure | Transfers in/out |
Gains/ (Losses) |
Balance at 31 July 2020 |
|
| F | E | |||||
| Restricted | ||||||
| funds | ||||||
| Red Box Fund | 367 | 10 | (2) | (22) | 353 | |
| Stokoe Fund | 13,017 | 340 | (13,955) | (773) | (1,371) | |
| Coomblea Trust | 9,264 | 242 | (57) | (550) | 8,899 | |
| Recce Foundation |
302,088 | 7,899 | (43,475) | (177,993) | (17,946) | 70,573 |
| Ratcliff Fund | 2,265 | 59 | (14) | (135) | 2,175 | |
| Ritchie Fund | 22,887 | 6,643 | (14,015) | (6,047) | (1,360) | 8,108 |
| Kenneth Halton Imison Fund |
11,679 | 305 | (72) | (694) | 11,218 | |
| Dr Carr Fund | 888 | 23 | (5) | (52) | 854 | |
| Advani Fund |
207,476 | 1,508 | (13,875) | 195,109 | ||
| Flagstone Fund |
111,132 | 809 | (13,875) | 98,066 | ||
| 681,063 | 17,838 | (99,345) | (184,040) | (21,532) | 393,984 | |
| Total offunds | 4,986,645 | 815,031 | (696,420) | (264,944) | 4,840,312 |
| Analysis ofnet assets between funds | -current year | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2021 | 2021 | 2021f | 2021 | |
| Fixed asset investments | 4,235,081 | 350,846 | 284,225 | 4,870,152 |
| Current assets | 882,921 | 882,921 | ||
| Creditors due within one year | (4,318) | (4,318) | ||
| Total | 5,113,684 | 350,846 | 284,225 | 5,748,755 |
| Analysis ofnet assets between funds | -prior year | |||
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2020 | 2020 | 2020 | 2020 | |
| E | ||||
| Fixed asset investments | 3,833,642 | 100,811 | 243,553 | 4,178,006 |
| Current assets | 368,202 | 293,173 | 4,331 | 665,706 |
| Creditors due within one year | (3,400) | (3,400) | ||
| Total | 4,198,444 | 393,984 | 247,884 | 4,840,312 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| F | |||||||||
| Net income/(expenditure) for activities) |
the | year | (as | per | statement | of financial | 908,443 | (146,333) | |
| Adjustments for: |
|||||||||
| (Gains)/losses on investments |
(692,686) | 264,944 | |||||||
| Dividends, interests |
and rents | from | investments | (156,568) | (121,436) | ||||
| Decrease/(increase) | in debtors | 246,985 | (272,120) | ||||||
| Increase/(decrease) | in creditors | 919 | (601) | ||||||
| Net cash provided | by/(used | in) operating | activities | 307,093 | (275,546) |