BAINES. EDUCATIONAL TRvsr Re8lstered Charlty No: 526225 TRUSTEES. REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 BAINES, EDUCA'lloNAL TRUST YEAR ENDED 31 DECEMBER 2024 CONTENTS Trustees, Report Statement of TnJstees' Responsibilities Receipts and Payments Account Balance Sheet Statement of Accounting Policles Independent Examlne¢s Report BAINES, EDUCATIONAL TRusr FOR THE YEAR INDED 31 DECEMBER 2024 TRUSTEES, REPORT The Trustees present thelr report for the year ended 31 December 2024. Legal statUS The Trust was established orlginally under the terms of the Will of James Baines in 1717. The Trust is registered with the Charity Commissioners, No. 526225. The instrument of govemment of the Trust was last revised on 24 July 2CKI3. Trustee$ Ex Offlcio Trustee Reverend Lesley Atkins lincumbentl Nominated Trustees Mrs Kathleen Winifred Montgomery- Clerk Mrs Alison Ainsworth lappointed 8 October 20241 Co-opted Trustees Mr lan Rushton Mrs Beverley Clews Mr lan Rushton Chair to the Trust The Ex officio frustee is the Principal Offidatin8 Officer for the tlme belng of the eccleslastlcal parlsh of St Paul's Marton. The two Nominated Trustees are appointed by St Paul's Parochial Church Council as changed with the permlsslon of the Charity Commissioners In December 2022. The Co-opted Trustees are appointed by the Ex officio Trustee and the Nominated Trustees and must have special knowledge of the trusts of the Charity and the area of Marton, 81ackpool. BAINES, EDUCQTIONAL TRUST FOR THÈ YEAJI ENDED 31 DECEMBER 2024 TRUSTEkS' REPORT (CONTINUED) Prlncipal Addre55 Flat 9. Tulloch Court Cherry Tree Road Blackpool FY4 4QL Prlncipal Advisors Independent Examiner John Potter & Harr150n Chartered Accountants 1121114 Whitegate Diive 8lackpool FY3 9XH Investment Advlsor% Ludlows Imattloll Woods Llmltedl 172 Lord Street Southport PR9 01 Investec Wealth & Investment Ltd The Plaza l(KJ Old Hall st￿et Uverpool L3 9AB Bankers Co-operative Bank plc Lancashlre Corporate Banking Centre 147 Church Street Preston PRI 3UD Solicltors Blackhurst Budd 22 Edward Street Blackpool Fyi IBA Browne Jacobson Ground Floor 3 Piccadilly Place Manchester M138N BAINES. EDUCATIONAL TRUST FOR ThE YEAR ENDED 310ECEMBER 2024 TRUSTEES, REPORT (CONTINUED) Objectives The objectives of the Trust are to pro￿de items, serv5ces and facllltes for Balnes. Church of England Voluntary Alded School, Marton, Blackpool, for the educational benefit of the community of Marton. The school converted to kademy statu5 in 2015 and the obJe¢tfves remain the same. The school name has now been amended to "Baines. Endowed Prlmary School and Children's Centre, a Churth of England Academy". The Trust Deed has been modified as appropriate to incorporatè thi5 thange. Oryanlsatlon The Trust Is governed by Its Trustees who nom)ally meet at least fourtlmes per year. The Trustees, a5$15ted by thelr advlsors. a￿ responslble for formulating the strate8y and pollcles of the Trust as whole. Includlng exerclse of flnanclal controts through regular financlal reporting. Rlsk Manag•ment The malor rlsk5 to whlch the Trust are exposed, as Identffied by the Trustees, have been revlewed and systems establlshed to mlnlmlse those risk5. Comblnld Ilablllty Insurances have been efferted with Ecdeslastlcal Insurance Group. Flnanclal Revlew and Revl•w of Dev•loprnents, Actmtles and Athlevemonts and Futurn D•velopments The Tru5Ys Flnanclal Advlsors Continue to manage the Investments In accordance wlth the agreed InveSt￿lL￿At pollcy. Tlie total amounts invested have decreased slightly over the year due to losses on sales and mana8ement charges ex¢eedin8 investment In￿rne. The market value of the Investments has however Increasod due to general market condltions. The Advlsors belleve that the emphas15 on quallty wlthln the well dlvèrsified portfollo glves the potentlal for strong future 8rowth. All trust land contlnues to be let at a falr rental value. The Trustees confirm that they will continue to support the school wtthln the conftnes of Trust Income. The Trustees believÈ that the investments made and declslons taken have secured the Trust Income and capital and irnproved lis ability to meet its objectives. The total assets of the Trust increased by £36.026 in thi5 yei?r due to ¥rowth In 5nvestments and Investrnent income earned. K M•Jntgomery B Clews TNste•s Date'.- z*) ,,] ztJ-< BAINES, EDVCAfioNAL TRusr YEAR ENDED 3J. DECEM8ER 2024 STATENIENT OF rRusfEES' RESPONSIBIUTIES Law applicable to Charities in England and Wales requires the Tnjstees to prepare financial statements for each financial year which provide details of the Charitls financial activities during the year and of its finaiici£il position at the end of the year. In preparing the financlal statements the Trustees should follow best practice and- select Suitable accountin8 policies and then apply ihem conslstently: where necessary make judgements and estimates that are reasonable and prudent: state whether applicable accountlng standards and statements of recommended practlce have been ft)Ilowed subject to any departures disclosed and explalned in the financlal statements; and prepare financlal statements on a golng concern basis unless it Is Inappropriate to presijme that the Charlty w511 continue In operation. The TrL15tees are responslble for keepln8 proper accountlng records which dlsc105e, with reasonable accuraLy the fincinclal posltion of the Charity and whlch enable them to ensure that the financial statements comply with appllcable law, regulatlons and trust deed. They are also responslble for safe8Llii rding the assets of the Charlty and hence for takln8 reasonable steps for the preverftlon and detection of fraud and other irregularltles. BAINES. EDUCATIONAL TRUST FOR THE YEAR ENDED 31ST DECEMBER 2024 RECEIPTS AND PAYMENTS ACCOUNT 2024 2023 Receipts - Rent re land at Stalnlng- year to 28.02.24 Rent re Baines, Farm, 5tainln8- year to 05.06.24 Investment Income- Bank interest Dlvidends Wayleave 335 1.970 335 1.970 426 27,036 64 428 27,186 29,831 29,983 Dfjduct paym¥nts- Contrlbutlons to School 8alnes' 5thooi - leavers blbles 5undrles Trustees Insurance 22,015 883 21 1,569 24,364 28,927 5,619 Transter to capltal account -27.462 .27,614 Transter trom Investments Ex¢0$5 of (payments) ovar rqcelpts 1,465 -21.995 Openln8 balanred as part of the independent examlnatlon.] I have no concern5 and have acros5 no other matters in connectlon wlth the examinatlon to whlch attention should be drawn thls report in order to enable a proper under5tandlng of the accounts to be reached. I D RIDING John Potter & ￿arrIsOn Charter.?d Accountsnts 11211141 WhltLgat• Drlve Blackpool FY3 9XFI L)W 4- Dated:.