**ARCHBISHOP HOLGATE’S GRAMMAR SCHOOL FOUNDATION**
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
Charity no: 514060
## **Legal and Administrative Information**
## **Foundation Governors**
Mr John Hattam (Chair) Dr Andrew Clarke Revd Paul Deo Ms Jane Lewis Ms Mona Kanaan Dr Samantha Pugh Ms Kathryn Rose Revd Canon Michael Smith
Resigned 2 September 2020 Appointed 1 September 2019
## **Principal Office**
Archbishop Holgates School, Hull Road, York, YO10 5ZA
## **Independent Examiner**
Ms S Wardell, c/o Archbishop Holgates School, Hull Road, York, YO10 5ZA
## **Bankers**
HSBC, 13 Parliament Street, York YO1 8XS
## **Solicitors**
Ware and Kay, Sentinel House, Peasholme Green,York YO1 7PP
## **Custodian Trustees**
Land and Buildings – The Official Custodian for Charities
1
**ARCHBISHOP HOLGATE’S GRAMMAR SCHOOL FOUNDATION**
## **Report of the Foundation Governors for the year ended 31 December 2020**
The Foundation Governors present their report along with the financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity’s trust deed and applicable law.
## **Constitution and objects**
The Archbishop Holgate’s School Foundation is constituted under a scheme made by the Minister of Education dated 17 April 1958 and is a registered charity.
The objects of the charity are:-
- (a) in providing benefits for the school of a kind not normally provided by the Local Education Authority.
- (b) In awarding to pupils who are attending, or have attended, the school exhibitions tenable at the school or any training college for teachers, university or other institution of further (including professional and technical) education approved by the governors.
- (c) In providing financial assistance, outfits, clothing, tools, instruments, books or travelling expenses.
- (d) In otherwise promoting the education, including social and physical training, of pupils and former pupils of the school.
## **Organisation**
The Archbishop of York (or his nominee) and the Diocesan Director of Education are ex-officio Foundation Governors. There are nine more Foundation Governors, in addition to the ex-officio governors, who are appointed as follows:Two by the Archbishop of York One by the Dean and Chapter of York Minster One by the York Deanery Synod Five by the York Diocesan Board of Education
The Foundation Governors meet at least three times a year.
## **Financial review and investment Policy**
The Foundation Governors have continued their support for the school by providing prizes and meeting the expenses of the School Speech Day. Contributions have also been made to furnish the School’s chapel and to strengthen the work of the chaplaincy team. Further contributions have been made to meet the on-going capital needs of the School, including the new building for Post 16 Education.
There are no restrictions on the charity’s power to invest. The investment strategy requires low risk investments which meet ethical guidelines with a greater emphasis on income than on capital growth. It is not anticipated that any additional funds will be invested for some time. It is also unlikely that any of the investments will need to be liquidated in the foreseeable future and that a long-term view should therefore be taken on any investments. The investment advisers report on the portfolio on request.
## **Risk management**
The Governors are aware of the major strategic, business and operational risks which the Foundation faces and confirm that any necessary steps will be taken to lessen these risks should these be required.
## **Reserves policy**
It is the normal policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administrative and support costs and to respond to applications for grants which arise from time to time. Some funds in excess of this are also being accumulated to help with the requirements associated with being a Voluntary Aided School.
Approved by the Foundation Governors and signed on their behalf by:
J Hattam Chairman
DATE: 19 January 2022
2
**Independent Examiner’s Report to the Governors of Archbishop Holgate’s School Foundation**
I report on the accounts of the Foundation for the year ended 31 December 2020, which are set out on pages 4 to 8
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) or under Regulation 10(1)(a) to (c) of the Charities Accounts (Scotland) Regulations 2006 (the 2006 Regulations) and that an independent examination is needed. The charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales.
## It is my responsibility to:
- examine the accounts under section 145 of the Charities Act 2011 and under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act);
- 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
- 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 and is in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements
- (a) to keep accounting records in accordance with section 130 of the 2011 Act and section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- (b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and section 44(1)(b) of the 2005 Act and Regulation 8 of the 2006 Accounts Regulations
- 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.
Mr G Duxbury
c/o Archbishop Holgate’s School Hull Road YORK YO10 5ZA
19 January 2022
3
## **ARCHBISHOP HOLGATE'S GRAMMAR SCHOOL FOUNDATION**
## **Statement of Financial Activities for the year ended 31 December 2020**
|**Notes**
**Incoming Resources**
Rental Income
Investment Income
Sale of property
**Total Incoming Resources**
**Resources Expended**
**Direct Charitable Expenditure**
Donations
Training
Other
Depreciation
**Administrative & Management**
Legal Fees
Insurance
Property Costs
Bank/Investment Charges
**Total Resources Expended**
**Total Net Incoming/(Outgoing) Resources**
**Before Transfers**
Balances at 1 January
**Balances at 31 December**
**5**|**Income Funds**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
£
£
6,369
-
51
0
-
**6,420**
**-**
12,500
-
-
-
-
-
5,053
-
17,553
-
19,307
-
1
-
-
1,490
-
60
-
20,857
-
**38,410**
**-**
**(31,990)**
**-**
74,876
583
**42,886**
**583**|**Endowment**
**Funds**
£
-
700,000
**700,000**
100,000
-
-
-
100,000
-
-
-
-
-
**100,000**
**600,000**
8,320
**608,320**|**Total**
**2020**
£
6,369
51
700,000
**706,420**
112,500
-
-
5,053
117,553
19,307
1
-
1,490
60
20,857
**138,410**
**568,010**
83,779
**651,789**|**Total**
**2019**
£
38,316
50
-
**38,366**
-
1,800
7,800
5,053
14,653
-
1,500
-
72
1,572
**16,225**
**22,142**
61,637
**83,779**|
|---|---|---|---|---|
4
## **ARCHBISHOP HOLGATE'S GRAMMAR SCHOOL FOUNDATION**
## **Statement of Net Incomings for the year to 31 December 2020**
|**Gross income as above**
General Purposes Fund
Designated Fund
Restricted Funds
Endowment Funds
**Total expenditure as above**
General Purposes Fund
Designated Fund
Restricted Funds
Endowment Funds
**Net incoming/(outgoings) for the year**
**Balance Sheet as at 31 December 2020**
**Notes**
**Fixed Assets**
Tangible Fixed Assets
**2**
Investments
**3**
**Current Assets**
Current Account
COIF Charities Deposit Account
**Creditors Falling Due Within One Year**
Other
**Net Current Assets**
**Net Assets**
Represented by
**Income Funds**
General Purposes Fund
**7**
Designated Capital Fund
**7**
Restricted Income Funds
**4**
**Endowment Funds**
**5**|£
6,420
-
-
700,000
33,357
5,053
-
100,000
£
5,050
-
648,753
992
649,745
3,006
3,006
37,836
5,050
583|**2020**
£
**706,420**
**138,410**
**568,010**
**2020**
£
5,050
646,739
**651,789**
43,469
608,320
**651,789**|£
38,366
-
-
-
11,172
5,053
-
-
£
10,103
-
77,680
993
78,673
4,997
4,997
64,773
10,103
583|**2019**
£
**38,366**
**16,225**
**22,142**
**2019**
£
10,103
73,676
**83,779**
75,459
8,320
**83,779**|
|---|---|---|---|---|
Approved by the Foundation Governors on 19 January 2022 and signed on their behalf
John Hattam Chairman
5
**ARCHBISHOP HOLGATE'S GRAMMAR SCHOOL FOUNDATION**
## **Notes to the Accounts for the year ended 31 December 2020**
## **1 Principal Accounting Policies**
## (a) **Accounting convention**
These financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with applicable accounting standards and the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005).
## (b) **Income**
Income is accounted for in the period in which the charity is entitled to receipt.
## (c) **Resources expended**
Expenditure is included on an accruals basis.
Grants payable are charged in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## (d) **Tangible fixed assets and depreciation**
Only building works are capitalised. These are written off on a straight-line basis over 20 years. The original buildings were conveyed to the Foundation Governors by the City of York Council in trust for use as a school. This transfer was at a nil value and this is the valuation used in these accounts.
## (e) **Fixed asset investments**
Investments are included at closing market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
## (f) **Fund accounting**
Details of the nature and purpose of restricted funds and endowment funds are given in Notes 4 and 5. The designated fund was set up to fund capital costs. It will meet the depreciation costs of the alterations to the front of school and has been increased by £150,000 in the current year to meet the Foundation Governors' guaranteed contribution towards the cost of a new building for Post 16 education.
|**2 Tangible Fixed Assets**
Swimming Pool at cost
School Alterations
Additions
Less Depreciation B/Fwd
Current Year Charge
Net Cost|£
12,424
101,050
103,371
5,053|**2020**
£
113,474
108,424
**5,050**|12,424
101,050
98,318
5,053|**2019**
£
113,474
103,371
**10,103**|
|---|---|---|---|---|
6
## **ARCHBISHOP HOLGATE'S GRAMMAR SCHOOL FOUNDATION**
## **Notes to the Accounts for the year ended 31 December 2020 (Continued)**
|**3 Restricted Funds**
Marcus Ridsdill Memorial Prize
Hunter Prize Fund|**Opening**
**Balance**
£
318
265
**583**|**Movements in Resources**
**Incoming**
**Outgoing**
£
£
-
-
-
-
**-**
**-**|**Closing**
**Balance**
£
318
265
**583**|
|---|---|---|---|
The Marcus Ridsdill Prize commemorates an old boy of the school who was drowned whilst working as a geologist on an oil rig off the north east coast of Scotland. Any surplus income becomes an accrued income fund.
The Hunter Prize Fund was donated by Canon Hunter and his wife to provide a prize for perseverance and progress.
7
## **ARCHBISHOP HOLGATE'S GRAMMAR SCHOOL FOUNDATION**
## **Notes to the Accounts for the year ended 31 December 2020 (Continued)**
|**4 Endowment Funds**
Marcus Ridsdill Memorial
Henry Clifton Bassett Prize Fund
Thomas Alwyn Wain Prize Fund
Holgate Hall Fund|**Opening**
**Balance**
£
1,140
6,680
500
-
**8,320**|**Movements in Resources**
**Incoming**
**Outgoing**
£
£
-
-
-
-
-
-
700,000
100,000
**700,000**
**100,000**|**Closing**
**Balance**
£
1,140
6,680
500
600,000
**608,320**|
|---|---|---|---|
The Henry Clifton Bassett Prize Fund was a gift to provide an annual prize of £100 to be given at the discretion of the Foundation Governors to any old boy of the school on his ordination as a Deacon in the Church of England or his taking the equivalent step in the Methodist Church. If no prize is awarded the income is added to the capital fund.
Holgate Hall was sold on 31st January 2020 for a price of £700,000.
Confirmation from the Charity Commission was received on 19th August 2020, to be able to spend £100,000 of the permanent endowment fund, from the sale of Holgate Hall
|**5 Analysis of Net Assets by Fund**
Fixed Assets and Investments
Current Assets
Current Liabilities
**Fund Balance**
**6 Movements on Unrestricted Funds**
Balances B/Fwd
Income
Expenditure
Unrealised gains/(losses)
Transfers between Funds
Balances C/Fwd|**Unrestricted**
**Funds**
£
5,050
40,842
(3,006)
**42,886**|**Restricted**
**Endowment**
**Funds**
**Funds**
£
£
-
583
608,320
-
-
**583**
**608,320**
**Purposes Fund**
64,773
6,420
(33,357)
-
-
**37,836**
**General**|**Total**
£
5,050
649,745
(3,006)
**651,789**
**Designated**
10,103
-
(5,053)
-
-
**5,050**
**Capital Fund**|
|---|---|---|---|
The Designated Fund was set up to fund capital costs. The transfer to the Fund in the current year is to meet the guaranteed amount which the Foundation Governors have committed to a new building to enable the School to commence Post 16 Education in 2008.
## **7 Employee's Remuneration**
The Foundation has no employees.
## **8 Foundation Governor's Remuneration and Expenses**
No remuneration was paid, directly or indirectly, out of the funds of the charity during the year to any Foundation Governor or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the Foundation Governors in respect of the year.
## **9 Post Balance Sheet Events**
None
8