Charity registration number: 510668
William Hulme's Grammar School Foundation
Annual Report and Financial Statements for the Year Ended 31 August 2025
Menzies LLP One Express 1 George Leigh Street Manchester M4 5DL
William Hulme's Grammar School Foundation
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
William Hulme's Grammar School Foundation
Reference and Administrative Details
Trustees
J D Marsden K Platts D Barnes B Kumeta K E M Robson P Mulholland
Principal Office
Spring Bridge Road Manchester M16 8PR
Charity Registration Number
510668
Independent Examiner
Helen Binns FCA Menzies LLP One Express 1 George Leigh Street Manchester M4 5DL
Page 1
William Hulme's Grammar School Foundation
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2025.
Objectives and activities
Public benefit
The object of the Trust is to advance the education of children and young people in Manchester in any way that the Charity trustees think fit.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The Board of Trustees, under the terms of the Trust Deed, sets the policy for the organisation and running of the Trust. Formal meetings are called regularly and when required.
Financial review
The fair value of the Trusts listed investments at 31 August 2025 was £1,248,594 (2024: £626,977). The financial statements show a net increase in funds of £620,306 (2024: £72,604) after gains on investment assets. The Foundation has continued its support of the Academy during the year and donated £120,337 (2024: £105,841) to support various activities.
Policy on reserves
The Trust had two types of unrestricted funds: trust funds and company funds held within the trading company. The trading company has now ceased to trade, and the residual funds transferred to the Trust. In addition, there are also restricted funds to support repair projects within the Academy.
The funds held at 31 August 2025 amounted to £21,008 in restricted funds and £15,538,311 in unrestricted funds. £13,262,378 of the unrestricted funds is the value of the revaluation reserve, £2,275,933 is the value of free reserves.
The Charity Commission's definition of free reserves excludes the following items: Permanent endowment funds Restricted income funds Designated funds
Fixed assets held for Charity use which could only be realised by disposal.
Recruitment and appointment of Trustees
Potential trustees, as and when a vacancy may arise, or an individual is recognised as a potential asset to the governance of the Trust, would be recruited on the basis of their specific skills, experience and knowledge of the Manchester area, the School and local education, together with the ability to contribute to the governance and efficient running of the Trust, also identifying skills required to replace trustees who may have retired/resigned for whatever reason.
Structure, governance, and management
Nature of governing document
The Trust is governed by Trust deed N1 167 28.9.77 CCx93 which was sealed on 26 October 1979 as varied by scheme dated 30 April 1986 and varied by scheme dated 23 December 1997 and orders executed 14 February 2007, 8 March 2007 and 20 April 2007.
The annual report was approved by the trustees of the charity on.
............................. and signed on its behalf by:
Page 2
William Hulme's Grammar School Foundation
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material 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 business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on.............................................and signed on its behalf by:
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.........................................
J D
Marsden
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William Hulme's Grammar School Foundation
Independent Examiner's Report to the trustees of William Hulme's Grammar School Foundation
I report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages 5 to 13.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... Helen Binns FCA
Menzies LLP One Express 1 George Leigh Street Manchester M4 5DL
Date:...[1] ..[2] ..[-] ..[M] ...[a] ..[y] ..[-] .[2] ..[0] ..[2] ..[6] ......
Page 4
William Hulme's Grammar School Foundation
Statement of Financial Activities for the Year Ended 31 August
2025
| Note Income and Endowments from: Donations and legacies 2 Charitable activities Investment income 3 Other income 4 Total Income Expenditure on: Raising funds 5 Charitable activities 6 Total Expenditure Gains/(losses) on investments Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 Note Income and Endowments from: Donations and legacies 2 Charitable activities Investment income 3 Other income 4 Total Income Expenditure on: Raising funds 5 Charitable activities 6 Total Expenditure Gains/(losses) on investments Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted funds £ Restricted funds £ Total 2025 £ 57,203 11,293 68,496 947 - 947 26,923 - 26,923 687,454 - 687,454 |
|---|---|
| 772,527 11,293 783,820 |
|
| (6,773) - (6,773) (126,855) - (126,855) |
|
| (133,628) - (133,628) |
|
| (29,886) - (29,886) |
|
| 609,013 11,293 620,306 14,929,298 9,715 14,939,013 |
|
| 15,538,311 21,008 15,559,319 |
|
| Unrestricted funds Restricted funds Total 2024 £ £ £ 54,282 10,714 64,996 3,339 - 3,339 17,255 - 17,255 60,500 - 60,500 |
|
| 135,376 10,714 146,090 |
|
| (3,034) - (3,034) (96,349) (15,000) (111,349) |
|
| (99,383) (15,000) (114,383) |
|
| 40,897 - 40,897 |
|
| 76,890 (15,000) 72,604 14,852,408 14,001 14,866,409 |
|
| 14,929,298 9,715 14,939,013 |
Page 5
All of the charity's activities derive from continuing operations during the above two periods.
Page 6
William Hulme's Grammar School Foundation
(Registration number: 510668) Balance Sheet as at 31 August 2025
| Note Fixed assets Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets/(liabilities) Netassets Funds of the charity: Restricted funds Unrestricted income funds General funds Other unrestricted funds Total unrestricted funds Total funds 13 |
2025 2024 £ £ 15,555,053 14,933,436 16,750 43,416 97,944 85,156 |
|---|---|
| 114,694 128,572 (110,428) (122,995) |
|
| 4,266 5,577 |
|
| 15,559,319 14,939,013 |
|
| 21,008 9,715 |
|
| 2,275,933 1,666,920 13,262,378 13,262,378 |
|
| 15,538,311 14,929,298 |
|
| 15,559,319 14,939,013 |
The financial statements on pages 5 to 12 were approved by the trustees and authorised for issue on . ................... and signed on their behalf by:
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.........................................
J D
Marsden
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William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
1 Accounting policies
Statement of
compliance
The financial statements have been prepared 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) (effective 1 January 2015)
- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
William Hulme's Grammar School Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received, and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable, and the amount can be reliably measured.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity 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.
Page 8
William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’ meetings and reimbursed expenses.
Taxation
As a registered charity, the Trust is not subject to taxation.
Investment properties
The main land and buildings of the school were conveyed to the Foundation, at no cost, under the terms of the Scheme for Hulme Trust estates (Educational) Charity sealed on 26 October 1979. These assets are therefore included in the balance sheet at valuation. Subsequent expenditure on specific major building projects is initially included in the accounts at cost.
The land and buildings of the Foundation are leased to the William Hulme's Academy for use in running of the school. As a result of this any capitalised expenditure has been reclassified as investment properties and is valued on a depreciated replacement cost basis.
Fixed asset investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 9
William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
Operating leases
Rental income from operating leases is recognised on a straight line basis over the term of the lease. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
2 Income from donations and legacies
| Donations and legacies; Received from Hulme Trust Estates (Educational Charity) Friends of WHGS |
Total Total 2025 £ 2024 £ 68,446 64,936 50 60 |
|---|---|
| 68,496 64,996 |
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William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
| 3 Investment income Income from dividends; Dividends receivable from listed investments Interest receivable and similar income; Interest receivable on bank deposits Covenant income from WHGS Activities Limited 4 Other income Income from associated charities and JCDecaux Sale of Nursery Nursery rental income 5 Expenditure on raising funds Investment management costs 6 Expenditure on charitable activities Note Grants to WHGS Academy Governance costs 7 Support costs 7 |
Total Total 2025 £ 2024 £ 22,886 13,487 4,037 1,397 - 2,371 |
|---|---|
| 26,923 17,255 |
|
| Total Total 2025 £ 2024 £ 25,500 25,500 650,000 11,954 35,000 |
|
| 687,454 60,500 |
|
| Total Total 2025 £ 2024 £ 6,773 3,034 |
|
| 6,773 3,034 |
|
| Total 2025 £ Total 2024 £ 120,337 105,841 3,900 3,960 2,618 1,548 |
|
| 126,855 111,349 |
Page 11
William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
7 Analysis of governance and support costs
Governance costs
| Independent examiners fee Support costs Legal and professional fees Insurance Bank charges Sundry Office expenses |
2025 2024 £ £ 3,900 3,960 2025 2024 £ 1,238 £ - 687 652 139 113 100 398 454 384 |
|---|---|
| 2,618 1,548 |
8 Trustees, employees and key management personnel
No salaries or wages have been paid to employees, including the Trustees, during the year.
During the year no Trustees received reimbursement (2024: £nil) for expenses incurred in the execution of their duties.
The key management personnel comprise the Trustees. The total employee benefits of the key management personnel were £nil (2024: £nil).
9 Related party transactions
There were no related party transactions in the year.
10 Fixed asset investments
| 0 Fixed asset investments | ||
|---|---|---|
| ther investments Cost or Valuation At 1 September 2024 Additions at cost Disposals at cost Fair value adjustment At 31 August 2025 |
Listed Investments £ 626,977 1,322,425 (696,743) (4,065) |
2025 2024 £ £ 15,555,053 14,933,436 |
| Investment Property Total £ £ 14,306,459 14,933,436 - 1,322,425 - (696,743) - (4,065) 14,306,459 15,555,053 |
||
| 1,248,594 |
Other investments
Page 12
William Hulme's Grammar School Foundation
Notes to the Financial Statements for the Year Ended 31 August 2025
11 Debtors
| Trade debtors Accrued income 12 Creditors: amounts falling due within one year Other creditors Accruals |
2025 £ - 2024 £ 11,667 16,750 31,750 16,750 43,417 2025 2024 £ - £ 16,667 110,428 106,328 |
2025 £ - 2024 £ 11,667 16,750 31,750 |
|---|---|---|
| 16,750 43,417 |
||
| 110,428 122,995 |
13 Funds
| Unrestricted funds General Revaluation Reserve Total unrestricted funds Restricted funds Total funds Unrestricted funds General Revaluation Reserve Total unrestricted funds Restricted funds Total funds |
Balance at 1 Incoming Resources Gains / Balance at 31 September 2024 resources expended (losses) August 2025 £ £ £ £ £ 1,666,920 772,527 (133,628) (29,886) 2,275,933 13,262,378 - - - 13,262,378 |
|---|---|
| 14,929,298 772,527 (133,628) (29,886) 15,538,311 9,715 11,293 - - 21,008 |
|
| 14,939,013 783,820 (133,628) (29,886) 15,559,319 |
|
| Balance at 1 Incoming Resources Gains / Balance at 31 September 2023 resources expended (losses) August 2024 £ £ £ £ £ 1,590,030 135,376 (99,383) 40,897 1,666,920 13,262,378 - - - 13,262,378 |
|
| 14,852,408 135,376 (99,383) 40,897 14,929,298 14,001 10,714 (15,000) - 9,715 |
|
| 14,866,409 146,090 (114,383) 40,897 14,939,013 |
14 Analysis of net assets between funds
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| £ | £ | £ | ||
| Fixed asset investments | 15,555,053 | - | 15,555,053 | |
| Current assets | 93,686 | 21,008 | 114,694 | |
| Current liabilities | (110,428) | - | (110,428) | |
| 15,538,311 | 21,008 | 15,559,319 |
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