REGISTERED CHARITY NUMBER.. 52631S
The Lytham Schools Foundation
Report of the Trustees and
Audited Flnanclal Statements
for the Year Ended 31 December 2023
Mcmillan & Co LLP
Chartered Accountants and
Slalulory Audiloi
28 Ealon Avenue
Matrix Office Park
Buckshaw Village
Chorley
LanGashire
PR7 7NA

The Lytham Schools Foundation
Contents of the Financial Statements
for the year ended 31 December 2023
Page
Report of the Trustees
Report ofthe Independent Auditors
7 to 10
Statement of Financial ActNities
11
Balance Sheet
12
Notes to the Financial Statements
13 to 20

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2023
The Corporate Trustee presents ils ￿port wilh the financial statements of the charity loi the year ended 31
December 2023. The Iruslee has adopted the provisions oflhe Charities Slalernenl of Recommended Practice
ISORPI FRS 102 Accounling and Reporting by Chanties. effective 1 January 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are for the publi¢ benefrt to advance education in or near Lyiham St Annes including
by, bul not limited lo. the provision of land, buildings and olher facilities for the purposes of a sch¢x)l 01 schools
and the provision of means-tesled bursaiies and olher financial awards lo children and young people residing
in or near Lylham Sl Annes in need of financial assistance for the purpose of assisting wilh the costs of their
education (including exiia-curticular activities undertaken for educational purposes).
Public benefit
The main aclivilies undertaken to furthei the charity's purposes for the public benefit are financial support for
groups and projects that advance the educatior) of children and young people in the area of operation.
The corporate Iruslee corbfirms that il has referfed lo the guidanGe contained in the Charity Commission's
gerieral guidance on public benefit when ￿VIewIng the Cha¥ity's aims and objectives.
Grant making
The granl making policy is lo make giants lo local schools and educational groups.
A grant is made lo AKS Lylham - IndepÈndenl Sch(￿1 lo support bursaries.
Grants are made to certain primary Sch￿15 lo meet the Governors 10°A Ikgbilty, currently onty applied lo capital
or large repairs lovei £2,000).
Grants lo local schools and educalK)nal groups are conSide￿d on their merit, having ￿ceiVed a duly completed
application. The aim is lo provide facilrties giving the widest possible benefrt where other funding cannot be
Sought or found.
Individuals also apply using a prescribed application form, and support would be given where there 15 obvious
benefit which the family cannot themselves provide- musi¢ and Ihe arts are likely lo be such candidates. The
Charity also considers where a young person is eligible for a bursary al AKS, and would benefit particularly
from the opportunitie5 available there and not readity obtainable elsewhère, and United Learning Trust do not
have the resources to fully fund them themselves.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
As the Foundalion is no longer re5POllsible for the running of the old KEQMS school the corporate trustee is
able lo focus on a widei use ol ils reSoUr￿s. However. at AKS the corporale trustee has negolialed that the
school will provide bursarial support, i.e. subject lo a means test, that will provide that at least 10 /0 ol all
pupils can be educated al no cost. This fee support will probably lolal over £600,000 pa, which will include our
donation lo AKS for this year of £156,480 {2022-. £135.4081.
With reference to the primary schools, we do have sorne commitments by which we meet a proportion of quasi
capital repair bills on behalf of the Govemors based on the Department for Education criteria for Voluntary
aided 50hools, and in the pa51 have also insured all the buildings. Whilslwe do not have a commilment to any
major capital expenditure. we may support proiecls rf cons￿ered Kn line with our objeclNes.
Turning lo the Foundations new wider support opportuntiies, in addition lo the above, £151.932 {2022'.
£199,872) of grants have been allocated for educational projects in the Lytham Sl. Annes area over the last
twelve months.
Page 1

The Lytham Schools Foundation
Report of the Trustees
for thè yèar ended 31 December 2023
ACHIEVEMENT AND PERFORMANCE
Investment performance
The Foundation has property inveslmenls, including Ihe schoob, valued in thesè accoltnls al £11.5 million
12022.. £11.5 millionl and sijbstantial shareholding inveslmenis. valued at £5.7 mi1110n {2022.' £5.3 million) in
these accounts. The income from these investmenls can be used to meel Uie Foundation's objeGlwe5.
FINANCIAL REVIEW
Investment policy and objectives
The Foundation hold5 investments of £17,513.000 {2022' £17,194,000) which is split as £5,679.00012022'.
£5,336.0001 In tradable se¢urrties, a loan balance of £301.000 (2022.. £325.0001 and £11,533.000 12022..
£11,533.0001 in investment properties. The corporatè trustee has the p(Mei to invest iri such 51oGks, share5.
investments and property in the UK as they see fil and in accordance V￿th the Charities, legislation.
In addition lo the inveslmenls Ihere is also Gash held by inveslmenl managers of £131,00012022.' £268,000).
Canaccord Genuity manage the investment portfolio on a bespoke basis. bul broadty in line with the WMA
Balanced Index. Depending upon markel condilions and the relative attiacliveness ol diffeTenl asset classe5
the weightings may deviate fiom WMA if deemed lo be in the best interests ol the Foun(6ation. The portfolio
will generally be invesled in dife¢l holdings via a mix of blue chip equities latthough permilled lo invest in FTSE
250 as medium risk}, prefeience shares and bonds.
CCLA'S mulli-assel funds are aclivety managed to achieve their largel benchmark. Over lifne, they aim lo
achieve an average lolal return beforè ¢osts of inflation. as measured by the consumer price Index. plus 50/..
To keep the informalion ￿leVant the comparator benchmark is adjusled from time to time to refiect changes
in long leim felufn expectations and any structural changès lo the fund. These alleralions are reviewed and
approved by the COIF board before they are implemenled.
The investment Object￿Ve is lo provide sufficient growth lo protect the fund against the effects of inflation in the
medium lo long lemi. This is subject to change should there be any requirement for large capital outlay. The
Trustees accept that lo achieve the long lemi capital growth and a real return ovei inflation the fund musl be
subjected lo the risks associated with assèt backed investments and investing in business through loans and
equity holdings. The corporate trltstee is not averse lo the concept of an dement of investment risk bul wish
the funLI lo be balanced lo reduce the overall effect of that risk_
The assets held by the investment managers were invesled al the year end a5 follows..
Can￿cOrd
31.17/
59.560A
CCLA
7.84/.
71.45010
UK and inlernalional fixed interesl
UK and inl&rnational equitie5
Inliasliuclure and operating assets
Other assets
Cash
7.22D
2.05/
7.61 D/.
4.76/.
11 should be noted Ihal in arriving at the above, the corporate Injstee and investment managers are awa￿ that
The Lytham Schools Foundation holds further cash for ils short term neéds and invèstm&nl pioperties.
The investment properties are held both to provide income Ihrough the rents and also for their kjng term capital
growth.
Page 2

The Lytham Schools Foundation
Report of the Trustees
foi the year ended 31 D6cembar 2023
FINANCIAL REVIEW
Reserve5 policy
The aim is lo keep sufficient reserves lo generatè an income sufficient lo albw future Chantable grant making
aclivilies. 11 is anlicipaled that the level of grant making expenditure wll increase as the aims of the Charity
become more widety known.
The funds in the financial statemenls are defined as-.-
General Fund and Investment Asset Fund
These funds are unreslricled and are used for all charitable purposes without feslficlion in accordance with
the governing documents. Amounts held in these funds as al 31 DeGember 2023 were £4.646,358 and
£11,533,31012022: £4.410,182 and £11,533,310) respeclivety.
Restricted Fund - AKS
This fund is for provision ol support for the seven funds and trusts for the Spe¢rf￿ benefit ofAKS Independent
School. The amount held in this fund as at 31 De¢ember 2023 was £1,146,32312022" £1,042,628).
Endowment Fund-AKS
This fund is for the capital amounts from which the income is allocated to the Reslricled Fund above. The
amount held In this fund as at 31 December 2023 was £231.54712022". £217.798).
Further details of restricted funds are include(l in note 14.
Review of the year
The Charity had nel income after realised and unrealise(I gains on inveslmenl assets of £353,620 12022..
£1,057.363 nel expendilure).
Invèstmènt performance
The listed investments increased in value by 6.4°A12022.' de¢￿aSe 17.￿1.
FUTURE PLANS
Further grant applicalions for educational projects in the Lytham Sl. Annes area have been approved bul not
yet paid. The truste&5 are excited al the future prospects foi supporting education.
From September 2023 £1.5 Million has been pledged over 5 year5 from capital reserves to open the way lo
the selling up of Coastal Collective a new charity. The new charity will provide resources and employ people
to work in Ihe FY8 poslcode area with families and children wth emotional. swial. and mental health needs
and aims lo be a source of support within the community.
The Charity has future grant commitments the nèxt 12 monlhs ot
Coastal Collective
Sundry Giants
AKS Bursaries
Heyhouses C of E Nursery School
£300,000
£11.146
£14.616
£11.508
All such commitments have been provided for in these financial slalements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a Scheme dated 11 November 2011 {as amended by an order of Ihe First Tier
Tribunal (Charity) dated 31 ALsgusl 2012, a resolulion of the Truslee dated 4 October 2012 and a resolution ol
the Trustee dated 21 September 20221.
Page 3

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The Lylham Schools Trustee Limited is the corporate trustee for The Lylham Schoo15 Foundation and the
directors ol that company musl ensure that the corporate Injslee follows the best practice of a charity trustee
for the Foundation. Marjorie Towers is Ihe chairman of the company and Clive Bames is the VI￿ chairman.
The direclors of The Lyiham Schools Tfustee Limited are appointed in a¢cc*dan¢e w7th the Memorandum and
Articles of Association of that company.
The Charity continues lo k)ok foi appropriate people wilh relevant experience lo be direclors of The Lylham
Schools Trustee Limited.
Organlsatlonal structure
The Lylham Schools Foundation. which was founded over 300 years ago, has as 115 primary objective the
provision of education for those in the Lytham Sl. Annes area (based on the ancient parish of Lyihaml.11 owns
three schools- AKS (the old KEQMS school) which in 2011 it leased lo United Learning Trust, and two primary
Schools - Lylham C of E and Hèyhouses Endowed C of E, which are run by the Blackbum Diocesan Boaid of
Education and Lancashiie Education Committee. The Foundation now therefore has no involvement in the
day lo day running of these schools.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
526315
Principal address
Bank HoLJse
9 Di¢¢onson Terrace
Lylham
Lytham Sl Annes
Lancashire
FY8 5JY
Trustees
The Lyiham Schools Trustee Limrted
Auditors
Mcmillan & Co LLP
Chartered Accounlanls and
Slalulory Auditor
28 Ealon Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA
Page 4

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Dickinsons Solicitors
24 Park Road
St. Anne5-on-Ihe-Sea
Lythatn Sl. Annes
Lancashire
FY81PA
Veale Wasborouuh Vizards
Narrow Quay House
Narrow Quay
Bristol
BS1 4QA
Bankers
HSBC Bank plc
l Newhouse Road
OxFord Square
Blackpool
Laricashire
FY4 4YH
Stockbrokers
Cana¢¢ord Genuity
Talisman House
Boardmans Way
Blackpool
Lancashire
FY4 5FY
Fund managers
CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Page S

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2023
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Corporate Trustee is iesponsible for preparing the Report ol the C¢xporale Trnslee and the financial
slalemenls in accordance with applicable law and Unrted Kingdom Accounting Standards {Uniled Kingdom
Generally AcGepled Accounting Praclicel.
The law applicable lo charrties in England and Wales. the Charities Act 2011. Charity (Accounts and Reports)
Regulations 20L18 and the provisions of Ihe twst deed iequiies the Iruslee lo prepare finan¢ial statements for
each financial year which give a true and fair view of the stale of affairs of the Charity and ol the incoming
resources and application of rèsour¢es. including the income and expe￿ltUre, of the charity for that peiiod. In
preparing those financial slalements, the corporate trustee is requiied lo
Select siiilable accounting policies and then appty them consistently..
observe the methods and principles in the Charity SORP.
make judgements and estimates thal are reasonable and pnident..
slate whether appliGable accounting standards have been followed, subject to any matellal departures
disclosed and explained ia the financial statements.
prepare the financial slalemenls on the going concein basis unless it is inappropriate lo presume that the
charity will continue in business.
The corporate trustee is responsible for keeping proper accounting records which disclose with reasonakile
accuracy al any lime the financial posrtion of the charity and lo enable Ihem lo ensure that the financial
slalemenls comply with the charit￿S Act 2011, the Chariiy {A¢counts and Reports) Regulations 2008 and the
provisions of the trust deed. They are also responsible for safeguardiog the a5seis of the charty and hence
for taking reasonable steps for the prevention and detection ol fraud anc5 other itregularilies.
Approved by order of the Board of Diieclors of the Corporate T￿stee on 12 September 2024 and signed on
its behalf by-.
TheL
am Sch
Trustee Limiled- Trustee
Page 6

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
Opinion
We have audited the financial slalemen15 of The Lytham Schools Foundation Ilhe 'charity'l foi Ih@ year ended
31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet. Ihe Cash Flow
Slalemenl and notes to the financial slatemenls. including a summary of signif￿an1 accounting policies. The
financial rèporting framework that has beèn applied in Iheii preparation is applicable law and United Kingdom
Accounting Standards Iuniled Kingdom Generalty Accepted Accounting Piacticel.
In our opinion the financial slalements..
give a true and fair view of the slate of the charity's affairs as al 31 December 2023 and of ils incoming
resources and applicalion of resources, for Ihe year then ended.,
have been properly prepared in accordance wilh United Kingdom Generalty Accepled Accounting Practice.
and
have been prepared in accordance wrth the Iwuirernents of the Charilies Ad 2011.
Basls for opinion
We condu¢led our auilit in accordance wilh Inlernalional Stsndards on Altrditing IUKI IISAS IUK}l and
applicable law. Our responsibilities undei those slandaids are further de5¢ribed in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the Charity in accordance
with the ethical requirements that ale relevant lo ou¥ audrt of the Iirbancial statements in the UK, including the
FRC'S Ethical Standard. and we have fullilled our other ethical responsibilrties in accordance with these
requirements. We believe Ihal the audit evidence we have obtained is sufficient and appropriate lo provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the Iruslees. use of the going concern basis of
accounting in the preparation of (he financial slalemenls is appropiiale.
Based on the work we have performed, we have not identified any material uncertainlies relaling lo events or
conditions that, individually or colleclNely, may cast significant doubl on Ihe charily's abilily to ¢onlinue as a
going con￿rn for a period of al least twelve months from when the financial slalemenls are aulhorised for
issue.
Our responsibilities and the responsibilities of the Iwslees with respect lo wing concem ara described in the
relevant sections of this report.
Other information
The Corpoiale Trustee is responsible for the other infofmalion. The other infomalion comprises the
inlormalion included in the Annual Report. other than the financial slalements and our Report of the
Independent Auditors Ihereon_
Our opinion on the financial statements d￿$ not cover the other Inromiat￿n and, except to the extent
otherwise explicitly slated in our feport, we do not express any fom of assurance condusion Ihereon.
In connection with our audit of the financial slalements, our responsibility is lo lead the other information and,
in doing so. consider whether the other infom)alion is malerialty inconsistent with the financial slalements or
our knowledgè obtained in the audil or othèrnise appears to be materially misstated. If we identify Such
material inconsislencies or apparent material misstatemenls. we are required to determine whether this gives
rise lo a material misslalemenl in the financial slalemenls Ihemselves. If. based on Ihe work we have
performed. we conclude that there is a material mi5slalemenl ol thi5 Othei inforrnation, we afè required lo
report that lacl. We have nothing to report in this regard.
Matters on which we are required to report by Èxception
We have nothing lo report in respect of the following matters where the Charities (A¢coynls and Report51
Regulations 2Q08 requires us lo report lo you tf, in our opinion-.
the information given In the Report of the Corporate Tluslee 15 inconsi51enl in any malefial respecl with th@
financial statements.. or
suffi¢ienl a¢¢ounting re¢ords have nol been kept.. or
the financial slalemenls ale not in agieemenl with Ihe accounting records and returns,. or
- we have not received all the infoTmalion and explanations we require lof our audil.
Page 7

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
Responsibilities of trustees
As explained more fully in the Slalement of Truslee5' Responsibilities, Ihe Corporate Tru51ee is iesponsible
for the preparation ol the financial slalemenls which give a true and fair view, and for such internal control as
the trustees determine is ne￿SSary to enable the preparation of financial slalemènts that are free from maleiial
mi55lalemenl, whether due to fraud or error.
In preparing the financial slalemenls. the Cotpofale Tru51ee is responsible for assessing the Gharily's ability lo
continue as a going concern, disclosing, as applicable. matters related lo goin9 concern and using the going
concern basis of accounting unless the Iruslees either intend lo I￿U￿ale the charily or lo cease operation5, or
havè no realistic alternative bul to do so_
Page 8

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
Our responsibilitie5 for the audit of the tinancial slatements
We have been appointed as auditors undef Section 144 01 the Charities Act 2011 and report in accordance
with the Act and relevant iegulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the finanual slalemenls as a whole are flee
from material mis51alement, whelheT dLFe to fiaud or eiror. and lo issue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assuTance, bul is not a guarantee Ihal an
audit conducted in accordance with ISAS IUKI will afways detect a material misslalemenl when il exists.
Misslalemenls can arise from fcaud or error and are considered material il, individually or in thè aggregate,
they could reasonably be expected lo influence the economic de¢ision5 of users taken on the basis ol these
financial statements.
The extent lo which our procedures are capable of delecling iriegularilies. including fraud is detailed below..
Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non•complianGe with laws and regulalFons, was as fdl(pNs.'
the engagement partner ensuied that the engagement team collectNely had the appropriate competence.
capabilities and skills to idenlify or recognise non-compliance with applicable laws and regulations,.
we identified the laws and regulations applicable to the company through discuSSiDns with directors and
other managemenl, and from our commercial knowledge and experien￿ ol the sector.,
we focused on specific laws and regulations whsch we consideied may have a dired material effect on the
financial slalemenls or the opeialions of the company. including the Companies Act 2006. taxation legislation
and data protection. anli-bribery. employment. enviionmenlal and health and safely legislation,.
we asse55ed Ihe exienl of compliance with the laws and regulalions identified above through making
enquiries of management and inspecting legal correst)ondence," and
identified laws and regulations wefe communicated within the audit team regularty and Ihe team remained
alert lo instances ol non-compliance throughout the audii.
We assessed the sus¢eplibilrty of the company's financial statements lo material misstalemenl, including
obtaining an understanding of how fraud M￿h1 (Kcur. by-
making enquiries of management as lo wheie they conS￿ered there wa5 Susceptibility lo fraud, their
knowledge ol actual. suspected and alleged Iraud". and
eon5idering the internal conlrols in place to miligate risks of fraLMI and non-compliance with laws and
regulation5.
To address the risk of fraud through management bias and override of controls, we-.
perfomied analytical piocedufes lo idenlify any unusual or unexpected rela1￿)nShIPS,. and
lesled journal entries lo idenlrfy unLFsual transaclions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, bul were nol limited lo:
agreeing financial slalemenl disclosures to underlying supporting do¢umenlalion-
reading the minutes 0% meetings ol those chaTged with goveman¢e-
enquiring of management as lo actual and potential liligalion and claitns", and
reviewing correspondence wllh HMRC. relevant re9ulalocs induding the Health and Safety Executive, and
the company's legal advisors.
There are inherent limitation5 in our audit procedures described above. The more removed that law5 and
regulations are from financial Iransaclions. the less likefy il is that we would become aware of non-compliance.
Auditing standards also limit Ihe audit procedures iequired lo identify non￿MplIance￿Ih law5 and regulations
lo enquiry of the directors and other management and the inspection ol regulatory and legal coiresponden¢e,
if any.
A further description of our responsibilities for the auilit of Ihe financial $tatemenls is located on the Financial
Reporting Council's website al wvm.frc.org.uklaudilorsre5ponsibililies. This descfiplion forms part of our
Report ol the Independenl Audrtors.
Page 9

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
Use of our report
This report Is made solely to the charity's cor￿rate TrLtslee in accordance with Part 4 of the Charities
(Accounts and Reportsl Regulations 2008. Our audit WO￿ has been undertaken so Ihal we might slate lo the
charity's Corporate Tru51ee Ih05e matters wè ale requiied to slate to Ihern in an auditors, report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone
other than the charity and the charivs Corporate Trustee for our al￿￿¢ work, for this ieport, Of for the opinions
we have formed.
Mcmillan & Co LLP
Chartered Accountants and
Slalulory Auditoi
Datè..
Pa9e 10

The Lytham Schools Foundation
statement of Financial Activities
for the year ended 31 Dècember 2023
2023
Total
funds
2022
Total
funds
Unreslricled
funds
Restrtcled Endth¥ment
funds
funds
Notes
INCOME AND
ENDOWMENTS FROM
Investment income
264.275
814
294,131
238,634
EXPENDITURE ON
Raising funds
10.064
6,130
16.194
17.590
Charitable activities
Education
323.S31
323.S31
366.722
Other
3.630
3,744
Total
337 225
6.130
388 056
Nel gainslllossesl on
investments
309,126
80,783
12.935
402.844
905.9411
NET
INCOMEIIEXPENDITURE)
236.176
103,695
13.749
353,620
11,057,363)
RECONCILIATION OF
FUNDS
Tolal funds brought fofward
15.943,492
1.042,628
217.798 17.203,918 18,261.281
TOTAL FUNDS CARRIED
FORWARD
16,179.668
1,146,323
231.547 17.557,538 17,203,918
The notes fom part of these financial statements
Page11

The Lytham Schools Foundation
Balance Sheet
31 Dècembèr 2023
2023
Total
funds
2022
Total
funds
Unrestricted
funds
Reslricled Endowment
funds
funds
Notes
FIXED ASSETS
Investmènts
Investments
Investment property
4,680.787
10 11.533.310
1.092,610
206,637
5,980,034
5,661.189
11.S33,310 11,533,310
16.214,097
1.092.610
206.637 17.S13.344 17,194,499
CURRENT ASSETS
Debtors
Cash al bank
11
17.446
59,216
17,446
137.839
9.750
287,443
53.713
24.910
76.662
53,713
24,910
155,285
297,193
CREDITORS
Amounts falling due within
one year
12
1111.091)
{111.0911
1287.7741
NET CURRENT ASSETS
34.4291
53.713
24.910
44.194
9,419
TOTAL ASSETS LESS
CURRENT LIABILITIES
16,179,668
1.146.323
231.547 17.557.S38 17.203,918
NET ASSETS
16,179,668
1,146,323
231.547 17 557 538 17,203,918
FUNDS
Unrestricted lund5
Reslricled funds
Endowment funds
13
16.179,668 15.943,492
1.146.323
1.042,628
231,547
217,798
TOTAL FUNDS
17,557,538 17.203,918
The financial slalemenls were approved by the Board of Trustees and aulhorised for issue on
I L .%¢Pk0A￿..20It.. and were signed on ils behalf by."
J.we-<£
Trust
The notes lomi part of these financial statements
Page 12

The Lytham Schools Foundation
Notes to the Financial Statements
for the year ended 31 December 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial slalemen15 of the charity, which is a publiG benefit enljty under FRS 102, have been
prepared in accordance wilh the Charities SORP (FRS 102} 'A¢couThling and Reporting by Charities..
Slalemenl of Recommen(6ed Praclice applicable to charities Pfeparing their accounts in accordanGe
with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 1021 leffeclive
1 January 20391., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in
the UK and Republic of Ireland. and Ihe Charilies Act 2011. The financial statements have been
prepared under the historical c051 Gonvenlion, with the exception of investments which are included at
market value, as rrK)dilied by the revaluation ol certain assets_
The presentational currency of the charity is pound slerlirbg (£1.
The amounts in the financial slalements have been rounded to the nearest £1.
There are no material uncertèinlies about the Chari￿$ abilty lo continue.
The charity has taken advantage of the following disclosure exemption in preparing these financial
statements, as permitted by FRS 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland,"
the requiremenls of Section 7 Slalemenl of Cash Flo￿.
Financial instruments
Financial instruments are classtfied and accounted for according to the substance of the contractual
arrangement as financial assets, financial liabilities or equty in51ruments. An equity instrument is any
contract that evidences a residual interest in the assets of Ihe company after deducting all ol its
Income
All income is recognised in the Slalemenl of Financial A¢livi(ies once the charity has enlf(lemenl lo the
funds, it is probable Ihal the income wll be received and the amunl can be measured reliably_
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal orconstruclive obligation committing
the charity to that expenditure, il is probable that a transfer of economic benefits will be required in
seltlement and the amotjnt ol Ihe obligation can be measured reliabfy. Expenditure is accounted for on
an acGrua15 basis and has been classified under headings that aggregate all c051 related lo thè category.
Where Costs cannot be dire¢lly altribuled to particular headings they have been allocated to activities
on a basis consi51enl with the use of re50ur¢es.
Grants offered subject to conditions which have not been met at the year end dale are noted as a
commitment bul not a￿[lIed as expendiluie.
Investment property
Investment property is shown al m051 recent valuation. Any aggregate surplu5 or defiGII arising from
changes in fair value 15 recognised in the Slalemenl of Financial ActNities.
Taxation
The chaiity is exempl from tax on ils Charitable activities.
Fund accounting
Unreslricled lunds can be used in accordance with Ihe charitsble objectives al the discretion of the
trustees.
Restricted fund5 can onty be used for particuEar restricted purposes within the objects of the charity.
Reslriclions arise when specrfied by Ihe donor or when funds are raised for particular reslricled
purposes.
Page 13
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ènded 31 Dècèmbèr 2023
ACCOUNTING POUCIES- continued
Fund accourbting
Further explanation of the nature and purpose of each fund is wicluded in the notes lo the financial
slalemenls_
Realised galn5 and losses
All gains and losses are taken to the Statement of Financial A¢twibes as they arise. Realised gains and
losses on investments are calculaled as the difference between 531es proceeds and their opening
carrying value or their purchase value if acquired subsequent lo the lifst day of the financial year.
Unrealised gains and losses are calculated as the difference behveen the fair value al the year end and
their carrying value. Realised and unrealised investment gains and losses are cixnbined in the
Slalemenl of Financial Aclivilies.
Investments
The Investments are included al closing mid-mathel value al Ihe balance sheet dale. The cost of
investments inclvde5 Gorrim155ion paid lo the investment managers. Any gatn or loss or ievalualion is
taken lo the Slalement of Financial Activities.
INVESTMENT INCOME
2023
2022
Rents receivable
Investment income
161,698
132,433
140.583
96,051
294.131
236,634
RAISING FUNDS
Investment management costs
2023
2022
Investment managerfs fees
16.194
17,590
CHARITABLE ACTIVITIES COSTS
Granl
funding of
aclivilies
{see note
51
Direct
Costs
Totals
Education
308,413
323,531
Page 14
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2023
GRANTS PAYABLE
2023
2022
Education
308.413
335.080
The total grants paid lo institutions during the year as follows".
2023
2022
Heyhouses EnLlowed CofE Primary School..
Contribution towards Building Repairs
Contribution to iefurbishment of Infant School Library
Heyhouses Endowed CofE Nursery School
Staffing and Support
Grant towards Loan Inleresl
- Grant towards Summer School
Pod@Heyhouses CIO- Repairs
Lylham ColE Primary School".
Contribulion towards Building Repairs
Nursery Subsidy
AKS Lylham Independent School..
Bursaries Contra Rent
- SLJpplementary But53ries
Fylde District Scout Council- Equipment
Coa51al Colleclwe
Sel Up Costs
Grant
Lylham Sl Annes High School
Contribution lo DofE Programme
Contribution lo pastoral care
Write off of Individual Grants Over Provision
Sundry grants
16.717
10,000
5,158
39.105
4.891
22,338
9,500
568
2,150
7,209
127,8151
5,576
40,000
156,480
38.245
135,408
4,715
450
144.7331
42,081
110,OOa
26,225
35.800
15,6251
9.250
308,413
335,080
The charity has opted lo use the avaflable disclosure exemption provided by Charity law lo chaiilable
trusls registered in England and Wales from providing the names of grant recipients and the amounts
of such grants during the lifetime of the settlor who donated the funds from which the grants are paid or
during the lifetime of any spouse or civil partner of the seluoi.
Page 15
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2023
SUPPORT COSTS
Governance
costs
Other resources expended
3.630
Auditors remuneration for the year was £3.630 (2022.. £3.7441.
TRUSTEES. REMUNERATION AND BENEFITS
During the year £nil12022." £20,221) was paid to Mr ME Gunson as clerk lo the Foundation, covèring
all adminislralive ServI￿S provided. Mr ME Gunson is also a diredor and company secretary of The
Lylham Schools Trustee Limited.
Trusteos. ¢xp&nses
There were no Iruslees, expenses paid for the year ende(131 December 2023 nor for the year ended
31 December 2022.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unreslricled
Reslricled
nds
funds
Endowment
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Investment income
216,950
19,684
236 634
EXPENDITURE ON
Raising funds
11.358
6.232
17,590
Charitable activities
Educalion
316,804
49.918
366,722
Other
3,744
3,744
Total
331.906
56,150
388,056
Nel gainslllossesl on invesbnenls
39,008)
87,0261
9,9071
905.9411
NET INCOMEIIEXPENDITUREI
(853,964)
1123,4921
179.9071 11.057,363
RECONCILIATION OF FUNDS
Total funds brought fotward
16.797,456
1,166,120
297,705 18.261,281
TOTAL FUNDS CARRIED FORWARD
15,943,492
1.042,628
217,798 17 203,918
Page 16
continued...

The Lytham Schools Foundation
Notes to the Flnanclal Statements - continued
for the year ended 31 December 2023
FIXED ASSET INVESTMENTS
2023
2022
Shares
Loans
5.679.034
301.000
5,335.689
325.500
5 980.034
5,661,189
Listed
investments
MARKET VALUE
At 1 January 2023
Addrtions
Disposals
Unrealised gains
5,335,689
296.482
1345,7401
392 603
At 31 Decernber 2023
5 679 034
NET BOOK VALUE
At 31 December 2023
5,679,034
At 31 December 2022
5,335,689
Other loans
Al 1 January 2023
Repayments in year
325,500
24,5001
Al 31 December 2023
301,000
The loan is repayable by quarterly instslmenls of £6,125.
There were no investment assets outside the VK.
The historical Gosl of listed investments al the year end 15 £3,863,696 {2022." £3.845,4821.
10. INVESTMENT PROPERTY
FAIR VALUE
Al 1 January 2023
and 31 December 2023
11,S33,310
NET BOOK VALUE
Al 31 December 2023
11 533.310
Al 31 December 2022
11,533,310
The investment properties have been valued by Robert Pinkus & Co LLP Chartered Surveyois al matkel
value al 18 October 2021. The corporate trustee believes Ihal the marfoel value ha5 not materially
hanged since this valuation.
Page 17
continued...

The Lytham Schools Foundation
Notes to the Flnancial Statements - contlnued
for the year ended 31 December 2023
DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Other debtors
17,446
9,750
CREDITORS.. AMOUNTS FALLING DUE W]THIN ONE YEAR
2023
2022
Other credi(ors
111,091
287,774
MOVEMENT IN FUNDS
Net
movement
in f¢Jnds
Al
31112123
At 111123
Unrestricted funds
General fund
15,943,492
236,176 16.179.668
Rèstricted funds
Funds designated exclusively for AKS
1.042,628
103,695
1,146.323
Endowmentfunds
Capital accumulation fund
217,798
13,749
231.547
TOTAL FUNDS
17.203.918
353,620 17.557 538
t4et movement in funds, included in the above are as follows..
Irbcoming
resources
Resource5
expended
Gain5 and
losse5
Movement
in funds
Unrestricted funds
General furid
264.275
1337,225)
309.126
236,176
Restrictèd funds
Funds designated exclusively foi AKS
29.042
(6.1301
80,783
103,695
Endowment funds
Capital accumulation fund
814
12.935
13.749
TOTAL FUNDS
294.131
343,3551
353,620
Page18
continued.

The Lytham Schools Foundation
Notes to the Flnanclal Statements - continued
for the year ended 31 Dècembèr 2023
MOVEMENT IN FUNDS- continued
Comparative5 for movement in funds
Nel
movement
in funds
Al
33112122
At 111122
UnTestriGted funds
General fund
16,797,456
1853.9641 15,943,492
Restricted funds
Funds designated exclustvely for AKS
1,166.120
1123.4921
1,042,628
Endowment funds
Capital accumulation fund
297,705
179.9071
217,798
TOTAL FUNDS
18,261.281
1,057.3631 17,203,918
Comparative net movement in funds. included in the above are as follows=
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
216,950
{331,9061
{739,008}
1853.9641
Restricted funds
Funds designated exclusively for AKS
19.684
{56,150)
187,026)
1123.4921
Endowtnent funds
Capital accumulation fund
179,907}
179,9071
TOTAL FUNDS
236,634
388.0561
905,9411 11,057 3631
Funds designated exclusively for AKS are made up as lollows..
2023
Endowment
2023
2022
Restricted Endowment
2022
Reslricled
Mellor Leclure Trust
Mellor Scholarship
Wolfson Scholarship
Wollson Sixth Form
Donovan Travel Fund
Fred H Hill Fund
Denys Ingham Travel Fund
Tom Bleasdale Memorial Fund
Prize Funds
Jean Mary Robinson Memorial Fund
1.483
3.522
109.678
103.335
907
691
4.695
7.236
14.171
24,655
17.597
8.707
598
1.517
3,962
555
20,350
1.054.211
1.400
3.324
103.531
97,545
856
652
4,432
6.058
13,173
22,927
16,567
8,199
553
1,411
3,681
513
19,364
956,240
231.547
1.146.323
217,798
1,042,628
Page 19
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2023
14. RELATED PARTY DISCLOSURES
There were no related party Iransaclions for the year ended 31 December 2023 or for the year ended
31 December 2022.
15.
ENDOWED AND RESTRICTED FUNDS
Endowed and ieslricled funds are to be applied a5 follows..
Mellor Lecture Trust and Mellor Scholarship
Financial assistance to pupils undertaking extra-curricular aclivtties.
Wolfson Scholarship and Wolfson Sixth Forrn Fund
Assistan¢e lowards school fees in special Ciicumslances.
Donovan Travel Fund
Fred H Hill Fund
Denys Ingham Travel Fund
Assisiance towards expenses of educational visit5.
Tom Bleasdale Memorial Fund
Funds lo support and develop the game of Ru9by.
Prize Funds
PfEes and awards.
Investment Asset Fund
Funds invesled in land, buildings 2nd equipmenl.
The Jean Mary Robinson Memorial Fund
In 2021 the charity received a subslanlial legacy donatK)n £1.047,0(JJ from the eslale of the late Jean
Mary Robinson, who was a foimer pupil ofQueen Mary's School and became a lifelong History lea¢her.
H&r wishes in grantin9 the donation were for the funds lo be pla￿d into a restricted fund for the sole
use of AKS Lytham. She requesled Ihat the funds be used lo increase the number of bursaries or
other educational projects lo bènefit the school and ils students in atiaining places and enriching their
learning experiences. including a focus on history.
Page 20