THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Financial Statements
For the year ended 31 March 2025
Charity Number: 508581
THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Reference and Administrative Information
Year Ended 31 March 2025
Trustees
Mrs F Stephenson (Chair) Mr J A G Fawcett — resigned on 06.02.2025 Mr GCN Lane Fox Mr RB Rimington Wilson Mrs C Hanson Mr M Warde Norbury
Clerk
Mr A Leece
Principal Office
35 Church Street, Barnsley, South Yorkshire, S70 2AP
Charity No: 508581
Independent Examiner
[an Bragger, Harris & Co Limited, Marland House, 13 Huddersfield Road, Barnsley, South Yorkshire, S70 2LW
Bankers
Barclays Bank, 10-18 Queen Street, Barnsley, South Yorkshire, S70 1RJ
Solicitors
Ridley & Hall, 35 Church Street, Barnsley, South Yorkshire, S70 2AP
Investment Managers
Rothschild, One Park Row, Leeds, West Yorkshire, LS] 5NR
Page |
THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Reference and Administrative Information
Year Ended 31 March 2025
Report of the Trustees for the year ended 315' March 2025
The Trustees present their report along with the 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 note 1 to the accounts and comply with the Charities Act 2011 and the Statement of Recommended Practice, Accounting and Reporting by Charities (2019) published in October 2019.
Structure, governance and management
The Trust is an unincorporated trust and is regulated by a scheme of the Charity Commission dated the 12" March 1907. The Trust was established by an initial gift under the Will of Mr George Ellis dated the 24" January 1711.
The Trustees are appointed by the board of trustees for life. The induction process for any newly appointed trustee comprises an initial meeting with the Chairman and the issue of a welcome pack including a brief history of the Trust, a copy of the Will of George Ellis and the Charity Commission Scheme dated the 12" March 1907 and a copy of the last three years annual reports and accounts.
The Trustees meet twice a year. The Trustees agree the broad strategy and areas of activity for the Trust including consideration of grant making, investment, reserves and risk management policies and performance. The day to day administration of the Trust is delegated to the Clerk.
Funds held as custodian for others
The charity does not hold any funds as custodian trustee for other persons or organisations.
Objectives and activities
The principal objective of the Trust is to provide education for children and this is achieved through the maintenance and support of the following schools, Brampton The Ellis Church of England Primary School, Brampton and Hemingfield The Ellis Church of England Primary School. Assistance is also given to Cortonwood Infants School Brampton which is now under the same governance of the Brampton The Ellis Church of England Primary School, Brampton.
Activities undertaking for public benefit, achievements and performance The Trust has pursued its objectives for the year in the following manner:-
Brampton Ellis Primary School and Cortonwood Infants School
The trust has assisted the school by making grants this year for an IT suite upgrade totalling £18,000, a contribution to a Trim Trail (£10,000) outside the school and subsidising Music lessons (£3,075) for children wanting to partake in the same where there would usually be a fee payable by the family.
Hemingfield Ellis School
Grants totalling £2,241.29 were made towards general maintenance and upgrades at the School. The school began a process of converting to be part of the Diocese of Sheffield Academy Trust in Autum 2024, requests for funding have been limited during the period.
Financial Review
The Trust is reliant on the income from its investments which comprise a managed investment fund and income from one rental property namely, Selby Abbey Infants School. Including sundry receipts the total income for the Trust was £75,622. During the year there was direct charitable expenditure of £115,378.
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THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Reference and Administrative Information
Year Ended 31 March 2025
Investment policy and performance The Trustees policy for investment is for the fund to be managed to achieve a return through capital growth and income. The performance of the investment fund is not judged on the income alone but on the growth of the fund over the year. The approach on risk is to take a balanced portfolio strategy, the objective being to preserve and make growth in real terms. The fund is managed ona discretionary basis and the fund manager reports to the Trustees annually. The investment portfolio yielded dividend and interest income of £38,601 and recorded a capital increase in the fund of £157,929.
Plans for the future and reserves policy
It is the intention of the Trustees to maximise the return on the trust’s investments which can then be Ellisused for the benefit ofthe Ellis schools. The Trustees have agreed a grant on £170,000 to the Heminegfield School over 3 years to help mediate damp problems. The Trustees wish to focus on educational grants to improve facilities at the schools as and when requested.
The amount of reserves at 31 March 2025 was £8,050,853 which was all unrestricted funds. Of this £7,902,748 is fixed assets and investments and £148,105 net current assets.
Public benefit
The charity trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Trustees’ responsibilities in relation to the financial statements
The law applicable to charities in England and Wales requires the trustee(s) to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view they 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 from 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from | April 2005 which has since been withdrawn. In preparing the financial statements the trustees should follow best practice and:
-
Select suitable accounting policies and then apply them consistently;
-
¢ Make judgements and estimates that are reasonable and prudent; ¢ State whether applicable account standards and statement of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and;
-
¢ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.
Approved by the Trustees on the day of 2025 Signedon their behalf by ...0.0....0000000 0 eecceeceeseseees (Trustee)
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THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Independent examiner’s report to the trustees of The Educational Foundation of Mr George Ellis
{ report to the charity trustees on my examination of the financial statements of The Educational Foundation of Mr George Ellis for the year ended 31 March 2025 which are set out on pages 6 to 8.
Responsibilities and basis of report
The charity’s trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The charity’s trustees consider that an audit is not required for this year under section 144(2) of the 2011 Act and that an independent examination is needed.
[ report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Your attention is to 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 Practice issued on 1 April 2005 which is referred to in the extant regulations but has 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 2019,
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention which gives me reasonable cause to believe that, in any material respect:
- accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or e the accounts do not accord with those records. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached,
Ian Bragger FCA Harris & Co Limited Chartered Accountants and Registered Auditors
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Marland House 13 Huddersfield Road Barnsley South Yorkshire 570 2LW
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THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Statement of Financial Activities (Including Income and Expenditure Account)
Year ended 31 March 2025
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Total|Unrestricted|Total|
|Note|Fund|2025|2025|Fund|2024|2024|
|£|£|£|£|
|Incoming|Resources|
|Incoming|resources|from generated|funds:|
|Investment|income|2|75,622|75,622|58,205|58,205|
|Sundry|income|2|0|0|0|0|
|Total Incoming|Resources|75,622|75,622|58,205|58,205|
|Resources|Expended|
|Costs|of Generating|Funds|
|Investment Management|Costs|47,202|47,202|43,503|43,503|
|Charitable Activities|and Governance|Costs|3|115,378|115,378|123,140|123,140|
|Total|Resources|Expended|4|162,580|162,580|166,643|166,643|
|Net Incoming Resources/(Resources|Expended)|(86,958)|(86,958)|(108,438)|(108,438)|
|Realised|and|unrealised|gains/(loss)|on|tangible|assets|$82,500|882,500|0|0|
|Realised and|unrealised|gains/(loss)|on|investment|assets|190,070|190,070|427,456|427,456|
|Net movement|in|funds|10|985,612|985,612|319,018|319,018|
|Fund|balances|brought forward|at|1st April|2024|7,065,241|7,065,241|6,746,223|6,746,223|
|Fund|balances|carried|forward|at 31st March|2025|8,050,853|8,050,853|7,065,241|7,065,241|
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The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 7a to 7f form part of[these][accounts.]
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THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Balance Sheet as at 31 March 2025
| Note | As at 31 | March 2025 | As at 31 | March 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 5 | 3,596,500 | 2,772,500 | ||
| Investments | 6 | 4,306,248 | 4,133,296 | ||
| 7,902,748 | 6,905,796 | ||||
| Current assets | |||||
| Debtors | 7 | 2,403 | 2,730 | ||
| Cash atbank | 8 | 157,846 | 163,506 | ||
| 160,249 | 166,236 | ||||
| Creditors: amounts falling | |||||
| due within one year | 9 | 12,144 | 6,791 | ||
| Net Current Assets | {48,105 | 159,445 | |||
| Total Assets less Current Liabilities | 8,050,853 | 7,065,241 | |||
| Net Net Assets |
8,050,853 | 7,065,241 | |||
| Funds: | |||||
| Unrestricted Income Funds: | |||||
| General purposes fund | 10 | 8,050,853 | 7,065.24) | ||
| 8,050,853 | 7,065,241 |
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Approved by the Board of Trustees on.........Seveaees
and signed on its behalf by
Trustee
The notes on pages 7a to 7f form part of these accounts.
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THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
(b)
Notes to the Accounts for the Year to 31 March 2025
J Accounting Policies
(a) Basis of accounting
The Educational Foundation of George Ellis is an unincorporated charity registered with The Charity Commission. The presentation and functional currency ofthe[financial][statements][is][the][Pound][Sterling][(£).]
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) effective from 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
These accounts have been prepared on an accruals basis. The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated. No significant judgements or estimates have had to be made by management in preparing these financial statements other than as described in the following accounting policies. The charity is a public benefit entity as defined by the regulations.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of[the] general objectives of the charity and which have not been designated for other purposes.
(c)
Land and Buildings
Land and buildings are included in the accounts at valuation which is calculated on a depreciated replacement cost basis. Investment properties are valued at market value.
(d)
Depreciation
Depreciation is not charged on land and buildings held for investment. Depreciation on land and buildings held for use by the Charity is charged at 2% straight line per annum so as to write off the full cost or valuation over their expected useful economic life. The useful economic life is to be reviewed on an annual basis.
Page 7a
THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Notes to the Accounts for the Year to
31 March 2025
(e) Investments
Investments are valued at the mid-market price ruling at the balance sheet date which gives rise to unrealised gains/(losses) which are included in the Statement of Financial Activities.
Land and buildings held for investment are included at market value.
(f) Incoming resources and debtors
All incoming resources are included in the Statement Of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, investment income is included on a receivable basis. No amounts are included in the financial statements for services donated by volunteers.
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid relating to prior years at the balance sheet date.
(g)
Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Direct charitable expenditure comprises services supplied and activities undertaken which are identifiable as wholly or mainly in support of the Charity's objectives. Those costs shown as governance costs relate to the management of the Charity's assets, organisational administration and compliance with constitutional and statutory requirements. Where appropriate, expenditure is apportioned on a reasonable and consistent basis.
(h)
Going concern
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concem. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operation existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a gong concern, this they continue to adopt the going concern basis of account in preparing the financial statements.
(i)
Taxation
The charity is exempt from tax on its charitable activities.
(j) Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or estimates have had to be made by the trustees in preparing these financial statements other than as described in the following accounting policies.
Page 7b
THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Notes to the Accounts for the Year to 31 March 2025
| 31 March | 2025 | 31 March | 2024 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 2 | Incoming Resources | ||||
| Dividends and Interest Receivable | |||||
| From managed investments | 38601 | 33,490 | |||
| Rents Receivable | |||||
| SelbyAbbey School | 37021 | 24,715 | |||
| Bank Interest Receivable | |||||
| Barclays | 0 0 |
||||
| Rothschild 0 |
0 0 |
0 | |||
| 75,622 | 58,205 | ||||
| Sundry Receipts | 0 0 |
||||
| 75,622 | 58,205 | ||||
| 3 | Charitable Activities | ||||
| Grants by Trustees to Schools | |||||
| Brampton Ellis Primary School Hemingfield Ellis School |
31,075 1,284 |
13,300 4,566 |
|||
| Hemingfield Ellis School - Maintenance 0 |
30,871 | ||||
| Cortonwood Infant School 0 |
32,359 | 3,300 | 52,037 | ||
| Governance Costs | |||||
| Schools Insurance | 6774 | 7,242 | |||
| Directors Insurance | 497 | 509 | |||
| Other Insurance | 253 | 192 | |||
| Legal and Other Professional Fees: | |||||
| Clerk and Solicitor Fees | 8,295 | 11,080 | |||
| Property Valuation | 6,000 | 14,295 | 0 | 11,080 | |
| Accountants Fees | 2,700 | 2,580 | |||
| General Administrative Expenses | 0 | ||||
| Depreciation on Land and Buildings | 58,500 | 49,500 | |||
| 115,378 | 123,140 |
Page 7c
THE EDUCATIONAL FOUNDATION OF MR GEORGE ELLIS
Notes to the Accounts for the Year to 31 March 2025
4 Total Resource Expended
| Resource Expended | Other Other |
Other Other |
Total Total |
Total Total |
|
|---|---|---|---|---|---|
| Direct Allocated |
|||||
| Costs Costs |
2025 | 2024 | |||
| £ | £ | £ | £ | ||
| Charitable Activities | 115,378 | QO | 115,378 | 123,140 | |
| Cost ofGenerating Funds - investment managers fees | 47,202 | 0 | 47,202 | 43,503 | |
| 162,580 | 0 | 162,580 | 166,643 |
Independent Examiners' Remuneration
Trustees have decided an independent examination should be undertaken and not an audit, the work for this independent examination during the year is £2,700 (2024: £2,580).
Trustees Remuneration and Expenses
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to a trustee or to any person or persons known to be connected with any of them.
During the year, no expenses were reimbursed to trustees.
Staff Costs
The Charity has no employees and therefore no staff costs to disclose.
The average number of staff employed by the charity during the year was nil (2024: nil).
Related Party Transactions
There were no related party transactions during the year.
Page 7d
THE EDUCATIONAL FOUNDATION OF GEORGE ELLIS
Notes to the Accounts for the Year to 31 March 2025
5 Tangible Assets
Freehold Land and Buildings For the Charity's own use :
| At Valuation | Total |
|---|---|
| £ | |
| 1 April 2024 | 3,020,000 |
| Additions 0 |
|
| Disposals | 0 |
| Cost reclassified as investment properties | 0 |
| Change in market value | 635,000 |
| 31 March 2025 | 3,655,000 |
| Depreciation | |
| April 2024 | |
| On Disposals 0 Charge for year 58,500 |
|
| Depreciation reclassified as investment properties | 0 |
| Change inmarket value | (247,500) |
| 31 March2025 | 58,500 |
| Net Book Value | |
| 31 March 2025 | 3,596,500 |
| 31March2024 | 2,772,500 |
Land and buildings are included in the accounts at valuation. The freehold land and buildings were valued by external valuers, Smiths Surveyors (Barnsley) Limited in July 2024. The properties were valued at Depreciated Replacement Cost. The historic cost of the freehold land and buildings is £277,000.
The Trustees are not aware of any material changes in value since the last valuation up to 31 March 2025. Post year end, and so during the year ending 31 March 2026, the freehold land and buildings has been transferred to invesment properties.
6 Investments
| Investments | ||||||||
|---|---|---|---|---|---|---|---|---|
| Transfer | In Change in |
|||||||
| Value at From Fixed Purchase Sale Market Value at 1 Apr 24 Assets at Cost Proceeds Value 31 Mar 25 |
||||||||
| £ | £ | £ | £ | £ | £ | |||
| Land and Buildings | 368,000 | 0 0 |
0 | 118,250 | 486,250 | |||
| Managed Listed Investments | 3,765,296 | 0 | 6,973,571 | (6,990,689) | 71,820 | 3,819,998 | ||
| 4,133,296 | 0 | 6,973,571 | (6,990,689) | 190,070 | 4,306,248 |
The charge in market value of investments during the period comprises increases and decreases in the market value of investments held at any time during the year, including profits and losses realised on sales of investments during the period.
The land and buildings were valued by external valuers, Smiths Surveyors (Barnsley) Limited in July 2024. The properties included in investments were valued at market value. The Trustees are not aware of any material changes in value since the last valuation.
Page 7e
THE EDUCATIONAL FOUNDATION OF GEORGE ELLIS
Notes to the Accounts for the Year to 31 March 2025
| 7 Debtors | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Prepaid expenses | 2,403 | 2,730 |
| 2,403 | 2,730 | |
| 8 Cash atBank | 2025 | 2024 |
| £ | £ | |
| Barclays Bank Current Account | 39,493 | 33,671 |
| Rothschild Client DepositAccount | 118,341 | 129,824 |
| Barclays DepositAccount | 12 | el |
| 157,846 | 163,506 | |
| 9 Creditors: amounts falling due within one year | 2025 | 2024 |
| £ | £ | |
| Trade Creditors 0 |
4,471 | |
| Deferred Income 0 |
0 | |
| Accrued expenses | 12,144 | 2,320 |
| 12,144 | 6,791 | |
| Deferred Income | ||
| Deferred Income as at | April 2024 | 0 |
| Resources deferred during the year 0 |
0 | |
| Amounts released fromprevious year 0 |
(12,358) | |
| Deferred Income as at 31 March 2025 | 0 0 |
|
| Deferred income relates to rental monies received in advance. | ||
| 10 General Purposes Fund (Unrestricted) | 2025 | 2024 |
| £ | £ | |
| At | April | 7,065,241 |
| Incoming Resources | 75,622 | $8,205 |
| Resources Expended | (162,580) | (166,643) |
| Unrealised gains on tanbile assets 882,500 0 |
||
| Realised and unrealised gains on investment assets | 190,070 | 427,456 |
| At 31 March | 8,050,853 | 7,065,241 |
| Pleasenotethatallassetsandliabilitiesatyearendwereunrestrictedfunds. |
Page 7f