Bretherton Endowed School Foundation
(Registered Charity No. 526314)
Trustee’s Annual Report and Accounts
for the year ended 31 December 2023
Bretherton Endowed School Foundation
Trustees’ Annual Report for the year ended 31 December 2023
The trustees present their annual report and accounts for the year ended 31 December 2023.
Reference and administration details
Other Names: The Feoffees Registered number 526314 Address: 2 Cock Robin Cottages Highfield Road Croston Leyland PR26 9HG Telephone: 01772 600917 Charity Trustees: Mr R Coupe (Chairman) – Retired 12/10/2023 Mr AC Murphy (Chairman) Reverend M Woods – Retired 30/11/2023 Mr MJ Hart – Resigned 12/10/2022 Mr RI Guinness (Secretary) Mrs M Mee Mrs L Redshaw Mrs ME Wild (Treasurer) Mr P Bradley Mrs G Lloyd Mr DC Cowburn Mr S Townley Mr S Ellison – Appointed 12/10/2023 Mrs A Berry – Appointed 10/10/2023 Bankers: The Royal Bank of Scotland Drummond House (FY) Branch Customer Service Centre Drummond House 1 Redheughs Avenue Edinburgh EH12 9JN National Westminster Bank plc 130 Lord Street Southport Merseyside PR9 0AE Independent Examiner: Mr JFD McMillan FCA McMillan & Co LLP Chartered Accountants 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA
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Bretherton Endowed School Foundation
Trustee’s Annual Report (continued) for the year ended 31 December 2023
Solicitors: Marsden Rawsthorn Solicitors Ltd Office 21a Strawberry Fields Digital Hub Euxton Lane Chorley PR7 1PS Property Agents & Surveyors: Acland Bracewell Surveyors Limited The Barrons Church Road Tarleton Lancashire PR4 6UP
Structure, governance and management
The governing document is a Charity Commission Scheme dated 15 August 1994, which superseded a Scheme in the High Court of Chancery on 5 November 1829 which superseded an Indenture of 1654. All twelve Trustees, with the exception of the present incumbents of Croston and Bretherton (ex officio), are co-opted for a term of five years.
Objectives and activities
The objects are to apply the income to assist the Governors of Bretherton Endowed School with the cost of conducting the school and advancing education thereat by the provision of equipment, facilities and other benefits, and in promoting the education (including social and physical training) of persons under the age of 25 who are attending or have attended the school.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and objectives.
Achievements and performance
This has been a further year of consolidation and planning to extend the property portfolio in order to maximise assets.
Financial Review
The Charity operates with minimal unrestricted reserves designed to cover basic repair and insurance costs of its various properties and operational expenses.
The Permanent Endowment is in property and land and amounts are maintained in Common Investment Funds in M & G the Equities Investment Fund for Charities (“Charifund”).
Acland Bracewell revalued the properties of the Charity on 4 July 2007 at a total of £1,589,650.
During 2014 a freehold property was purchased for £170,752 utilising cash funds and investments.
During 2022, considerable amounts were expended in modernising two properties.
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Bretherton Endowed School Foundation
Trustee’s Annual Report (continued) for the year ended 31 December 2023
Statement of Trustees Responsibilities:
Law applicable to charities in England and Wales require the Trustees to prepare accounts for each financial year which fairly present the receipts and payments of the Charity during the year and its assets and liabilities at the end of the year.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the accounts comply with the Charities Act 2011. They are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
……………………………………………
AC Murphy Chairman
3 October 2024
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Bretherton Endowed School Foundation
Receipts and Payments Account for the year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Receipts | ||
| Investment dividends/interest: | ||
| Land rent | 1,838 | 1,838 |
| Wayleaves | 33 | 34 |
| Property rent | 35,104 | 16,420 |
| Charifund | 13,833 | 13,429 |
| COIF Deposit Interest | 3,285 | 724 |
| Other interest | 175 | 68 |
| Total Receipts | 54,268 | 32,512 |
| Payments | ||
| Investment management costs: | ||
| Letting agent fees and commissions | 4,650 | - |
| Insurance | 1,986 | 1,714 |
| Repairs and maintenance | 17,361 | 6,458 |
| Costs of charitable activities: | ||
| Donations | 800 | 400 |
| Insurance of Bretherton School buildings | 3,399 | 3,260 |
| Governance costs: | ||
| Other expenses | 382 | 4,655 |
| Independent examiner | 540 | 540 |
| Trustee indemnity insurance | 420 | 420 |
| Total Payments | 29,538 | 17,447 |
| Net Receipts | 24,730 | 15,065 |
| Total funds brought forward | 218,730 | 203,181 |
| Total funds carried forward | 243,460 | 218,246 |
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Bretherton Endowed School Foundation
Statement of Assets and Liabilities as at 31 December 2023
| 2023 2023 2023 Unrestricted Funds Endowment Funds Total Funds £ £ £ Cash funds Bank current accounts 49,824 - 49,824 COIF Charities deposit fund 78,248 - 78,248 128,072 - 128,072 Assets Property (Note 3) - 2,236,385 2,236,385 Investments (Note 4) - 232,166 232,166 - 2,468,551 2,468,551 Total 128,072 2,468,551 2,596,623 |
2022 Total Funds £ 28,379 74,962 103,341 1,974,042 237,753 |
|---|---|
| 2,211,795 | |
| 2,315,136 |
The accounts set out on pages 4 to 7 were approved by the trustees on 3 October 2024 and signed on their behalf by:
………………………… AC Murphy Trustee
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Bretherton Endowed School Foundation
Notes
(forming part of the accounts)
1 Accounting policies
The charity is allowed under section 133 of the Charities Act 2011 to prepare receipts and payments accounts as its gross income is not over £250,000.
A receipts and payments account is a factual record of money received and paid during the year. A statement of assets and liabilities is a list of significant possessions and outstanding financial obligations as at the end of the financial year.
The accounts do not purport to show a true and fair view of the Charity’s financial activities and state of affairs.
2 Trustees remuneration and expenses
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year or prior year to any trustee 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 trustees in respect of the year or prior year.
3 Property, at cost or valuation
| Property, at cost or valuation | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Investment property | ||
| Land at Eyes Lane, Bretherton (3.56 acres) | 8,400 | 8,400 |
| Land at Dunkirk Lane, Leyland (6.577 acres) | 11,750 | 11,750 |
| Land at Sydbrook Lane, Croston (16.191 acres) | 29,000 | 29,000 |
| 376 Dunkirk Lane, Leyland * | 350,000 | 310,000 |
| 50 Station Road, Croston * | 230,000 | 170,752 |
| 629,150 | 529,902 | |
| Set aside property | ||
| School Buildings, Bretherton | 925,000 | 925,000 |
| Additions since 2007 | 98,735 | 98,735 |
| Old School House: | ||
| 152 & 154 South Road, Bretherton * | 575,000 | 411,905 |
| Land at Dunkirk Lane, Leyland (0.76 acres) | 3,500 | 3,500 |
| Allotment off Dunkirk Lane, Leyland | 5,000 | 5,000 |
| 1,607,235 | 1,444,140 | |
| 2,236,385 | 1,974,042 |
The properties are stated at valuation as at 4 July 2007 plus additions since that date at cost.
The properties above indicated * have been revalued in the year to £1,155,000. The historical cost of these properties was £892,657
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Bretherton Endowed School Foundation
Notes (continued)
(forming part of the accounts)
| 4 | Investments,at valuation | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| M & G The Equities Investment Fund for Charities | |||
| (“Charifund”) – 16,178.956 (2022: 16,178.956) | |||
| Income Units | 232,166 | 237,753 |
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Independent Examiner’s Report to the Trustees of the Bretherton Endowed School Foundation
I report on the accounts of the Charity for the year ended 31 December 2023 which are set out on pages 4 to 7.
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 this year under section 144 of the Charities Act 2011, and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act:
-
follow the procedures laid down in the general Directions given by the Charity
-
Commission (under section 145(5)(b) of the Charities Act): and
-
state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
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 the 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 matter 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:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities 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.
JFD McMillan FCA McMillan & Co LLP Chartered Accountants
- 3 October 2024
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