REGISTERED CHARITY NUMBER: 526315
The Lytham Schools Foundation
Report of the Trustees and
Audited Financial Statements
for the Year Ended 31 December 2024
Mcmillan & Co LLP
Chartered Accountants and
Slatutory Audiloi
28 Eaton Avenue
Maliix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

The Lytham Schools Foundation
Contents of the Financial Statements
for the year ended 31 December 2024
Page
Report of the Trustees
Report of the Independent Auditors
7 to 9
Statement of Financial Activities
10
Balance Sheet
11
Notes to the Financlal Statements
12 10 19

The Lytham Schools Foundation
Report of the Trustees
forthe year ended 31 December 2024
The CorFiorate Trustee presents tts report with the financial slatemenis ol the charity for the year ended 31
December 2024. The Iruslee has adopted the provision5 of the Charities Slalement of Recommended
Practice ISORPI FRS 102 'Accountsng and Reporting by Charib"e5' effective 1 January 2019.
OBJECTIVES AND ACTV411TIES
Objectives and aims
The objects of the charity are for the public benefit lo advance education in or near Lytham Sl Annes including
by. but not Iimiled lo, the provision of land. building5 and other facilities for the purposes of a school or
schools and the provision of means-lesled bursarie5 and other financial awards lo children and young people
residing in or near Lytham St Annes in need of financial assistance for the puitx)se ol assisting with the costs
ol their education (including extra-cufflcular aclivilies undertaken for eduCat￿nal purposes).
Public benefit
The main activities undertaken lo further the charivs purwses for Ihe public benefit are financial SUPFX)rt for
groups and projects that advance the educabon of children and young people in the area of operation.
The corporate Ifuslee confirms that il has referred to the guidan￿ contained in the Charity Commission's
general guidance on public benefit when reviewing the Charity's aims and objectives.
Grant making
The grant making policy is lo rnake grants to local schc#)Is and educatK)nal groups.
Grants are made lo Heyhouses Endowed CO￿ Primary School aThY Lytham CofE Primary School both
Voluntary Aided Schools, the sites of which belong lo the Foundation. lo meet the Governors, contribution ol
100/0 for major repairs and capiial expenditure in line with the Department for Education's criteria for Voluntary
Aided Schools.
The charity Coastsl Collective provides resources, including personnel, lo w)rk in the FY8 poslcode area with
families with emotional, social and mental health needs which adversely impact their ability lo access
education. The corporate Iruslee has undertaken to fund Coastal Colleclive's activities in the sum of £300.000
per 2nnum for a period of 5 years from September 2023. subject to regular monitoring ol the outcomes of the
work.
AKS Lylham Independent School can support indwidual applications for lee support where a young person
would benefit particularly from the opportijnilies available there and not reajily obtainable elsewhere.
Grants lo all other schools and educational gri)ups. and lo individua15. are Considered on their merits upon
receipt ol a duly completed application form. The aim is to provide faalities and resour￿5 giving the widest
possible educational benefit where other lunding is not available.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Charitable Activities
As the Foundation is no longer responsible for ¥unning the former King Edward Vll and Queen Mary school.
the Corporale Trustee is able lo focus on a widei use of ils resources.
The Corporate Trustee has agreed that the AKS Lylham Independent School will provide means lesled
bursarial support equivalent lo 100/0 of the annual fee income. in lieu of rent for their sile and buildings lo the
Foundation. The amount for the year including supplementary bursaries was £196.50212023'. £194,725).
With reference lo the primary schools, we do have some commitments by which we meet a proportion of
quasi capital repair bills on behalf of the Governors based on the Departtnenl for Education criteria for
voluniary aided schools. Whilst we do not have a commitment lo any major ￿pital expenditure, we may
support projects if considered in line wlh oui objectives_
In addition lo the above, in 2024 £512,322 12023." £113,688) has been allocated by way of grants for
educational projects in the Lyiham Sl. Annes area as detailed in the Finanual Slalemenls.
Page 1

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2024
ACHIEVEMENTS AND PERFORMANCE
Investment performance
The Foundation has property investments. including the schools, valued in these accounts at £11.5 million
12023". £11.5 million) and subslanlial shareholding inveslmenls. valued al £5 3 million 12023." £5.7 million) in
these aecounls. The income from these investments can be used to meet the Foundation's objectives.
FINANCIAL REVIEW
Investment policy and objectives
The Foundation holds investments of £17, 148,000 12023." £17,513,0(K)) which is split as £5,338,000 12023..
£5,679,000) in tradable securities. a loan balance of £277.000 12023.. £301,000) and £11,533,000 12023..
£11,533,000) in investment properties The corporate trustee has the power lo invest in such stocks, shares,
investments and propety in the UK as they see fit and in accordance wlh the Charities. legislation.
In addition to the investments there is also cash held by investment managers of £165,00012023". £131.0001.
Canaccord Genuity manage the investment portfolto on a bespoke basis. bul broadly in line with the WMA
Balanced Index. Depending upon market conditions and the relative attraclivene55 of different asset classes
the weightings may deviate from WMA if deemed to be in the best interests of the Foundation. The porffolio
will generally be invested in direct holdings via a mix of blue chip equities lalthough permitted lo invest in
FTSE 250 as meditjm risk}, preference shares and bonds.
CCLA'S mulli-assel funds are activety managed to achieve their target benchmark. Overtime, they aim lo
achieve an average lolal return before costs of inflab"on. as measured by the consumer price index, plus 5.10.
To keep the infomialion relevanl the comparator benchmark is adjusted from lime to time to reflect Changes
in long term return expectations and any slruclural changes to the fund. These alteration5 are reviewed and
approved by the COIF board before they are implemented.
The investment objective is to provide sufficient growth to protect the fund against the effects of inflalion in the
medium lo long term. This is subject lo change should there be any requirement for large capilal outlay. The
Trustees accept that lo achieve the long term capital growth and a real return over inflation the fund musl be
subjected to the risks associated with asset backed investments and investing in business through loans 2nd
equity holdin95. The corporate Iruslee is not avetse lo the concept of an element of investment risk bul wish
the fund lo be balanced lo reduce the overall effect of that risk.
The assets held by the investment managets were invested al the year end in accordan￿ with the followng
profile..
Canaccord
CCLA
7.690/.
UK and International fixed interest
UK and international equities
Infraslruclure and operating assets
Other assets
Cash
61.450
3.82°
4.68%
9.43 /0
302/0
11 should be noted that in arriving al the above. the corFK)rale Iruslee and investment managers are aware that
The Lylham Schools Foundation holds further cash for ils short term need5 and investment properties.
The investment properties are held both lo provide income through the rents and also for their long term
capital growth.
Page 2

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2024
FINANCIAL REVIEW
Reserves policy
The aim is lo keep sufficient reserves 10 generate an income sufftcienl lo allow future charitable grant making
aclivilies. 11 is anlicipaled that the level of gcant making expenditure will increase as the aims of the Charity
become more widely known.
The funds in the financial statements are defined a5'.-
General Fund and Investment Asset Fund
These funds are unreslricled and are used for all charitable pu￿1$eS wilhoul restriction in accordance with
the governing documenls. Amounts held in these funds as at 31 December 2024 were £4,325,218 and
£11,533,31012023 £4,646,358 and £11.533.310} respectively
Restricted Fund - AKS
This fund Is for provision of support for the seven funds and trusts for the specific benefit of AKS Independent
School. The amount held in this fund as al 31 December 2024 was £1,203.74412023.' £1,146,323).
Endowment Fund - AKS
This fund is for the capital amounts from which the income is allocaled lo Ihe Resiiicted Fund above. The
amount held in this fund as al 31 December 2024 wa5 £235,67412023". £231,547).
Further details of restricted funds are included in note 14.
Review of the year
The Charity had nel expenditure after realised and unrealised gains on investment assets of £259,592 12023..
£353,620 net income}.
Investment performance
The listed investments increased in value by 3.4°kn 12023.. increase 6.40/01, however the overall value of the
investments has decreased as a result of the capital withdrawal as sel oul in note 9.
FUTURE PLANS
Further grant applications for educaliorEal projects in the Lytham Sl. Annes area have been approved but not
yel paid. The trustees are excited at the future prospects for supporting education.
From September 2023 £1.5 Million has been pledged over 5 years from capital reserves to open the way lo
the setting up of Coastal Collective a new charity. £1.1 million remains payable.
The Charity has pledged grant commitments over the nexl 12 months of".
Coastal Collective
Other grants
£300.000
£201.473
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charily is governed by a Scheffle dated 11 November 2011 las amended by an order of the First Tier
Tribunal Icharilyl dated 31 August 2012, a resolution of the Trustee dated 4 October 2012 and a resolution of
the Trustee dated 21 September 20221.
Page 3

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The Lylham Schools Trustee Litniled is the corporate Iruslee for The Lytham Schools Foundation and the
directors ol that company musl ensure that the corporate Iruslee follow5 the best practi￿ of a charity Iruslee
for the Foundation Mariorie Towers is the chaiman of the company and Clive Bames Is the vice chairman.
The directors of The Lytham Schools Truslee Limited are appointed in accordance with the Mefflorandum
and Articles of Association of that company.
The Charity continues lo look for appropriate people with relevant exttrience lo be directors of The Lylham
Schools Trustee Limited.
Organisational structure
The Lylham Schools Foundation, which was founded over 300 years ago, has as its primary objective the
provision of education for those in the Lytham St. Annes area (based on the ancient parish of Lythaml. 11
owns three schools AKS Independent School (the old KEQMS Sch￿1) which in 2011 it leased lo United
Learning Trust. and two primary schools - Lytham C of E and Heyhouses Endowed C of E, which are both
Voluntary Aided run by the Blackburn Diocesan Board of Education and Lancashire Education Committee.
The Foundation now therefore has no invofvement in the day to day running olthese schools.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
526315
Principal address
Bank House
9 Dicconson Terrace
Lylham
Lylham St Annes
Lancashire
FY8 5JY
Trustees
The Lylham Schools Truslee Limited
Auditors
Mcmillan & Co LLP
Chartered Accounlanls and
Stalulory Audilor
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 310ecember 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Dickinson Solicitors
24 Park Road
Sl Annes-on-the-sea
Lylham Sl. Annes
Lancashire
FY8 1PA
Veale Wasborough Vizards
Narrow Quay House
Narrow Quay
Bristol
BS14QA
Bankers
HSBC Bank plc
1 Newhouse Road
Oxford Square
Blackpool
Lancashire
FY4 4YH
stockbrokers
Canaccord Genuity
Talisman House
Boardmans Way
Blackpool
Lancashire
FY4 5FY
Fund managers
CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Page 5

The Lytham Schools Foundation
Report of the Trustees
for the year ended 31 December 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Coipoiale Trustee Is responsible for preparirbg the Report of the CorFMirale Trustee and the financial
slalemenls in accordance with applicable law and United ￿"ngdoM knounting Standards (United Kingdom
Generally Accepted Accounting Praclicel.
The law applicable to charities in England and Wales, the Charitses Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trustee lo prepare financial slalemenls for
each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming
resources and application of iesour¢es, including the income and expenditure. of the charity for that period. In
preparing those financial statements, the corporate trustee is required lo
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charity SORP",
make judgements and estimates that are reasonable and prudent".
slate whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements.,
prepare the financial slalemenls on the going con￿rn basis unless il is inappropriate lo presume that the
charity will continue in business.
The corporate trustee is responsible for keeping proper accounting recoids which disclose with reasonable
accuracy al any lime the financial FX)Sition of the charity and to enable them lo ensure that the financial
slalemenls comply with the Charities Act 2011, the Charity {Accounls and Reportsl Regulations 2008 and the
provisions of the trust deed. They 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 order of the Board of Direclofs of the Corporate Ttuslee on 11 September 2025 and signed on
ils behalf by:
Approved by order of the board of trustees on 11 September 2025 and sIg￿d on ils khalf by..
The Lylham Schools Trustee Lirnited - Trustee
Page 6

Report of the Independent AudFtors to the Trustees of
The Lytham Schools Foundation
Opinion
We have audited the financial statements of The Lytham Schools FoundatKsn Ilhe'charity.) for the year ended
31 December 2024 which comprise the Statement of Financial Aclivilies. the Balance Sheet, the Cash Flow
Statement and notes lo the financial slatemenls, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their p￿paratiOn is applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Pfaclicel.
In our opinion the financial slalemenls..
give a true and fair view of the stale of the chariws affairs a5 at 31 December 2024 and of its incoming
resources and application of resources. for the year then ended",
have been properly piepared in accordance with United Kingdom Generally AC￿pIed Aceounling Practice".
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Auditing (UK) IISAS IUKII and
applicable law. Our responsibililies under those standards are further described in the Auditors,
responsibilities for the audit of the financial statements section of our report. We are independent of the
charity In accordance wlh the ethical requiremenls that are relevant to our audit of the financial statements in
the UK. including the FRC'S Ethical Standard. and we have fulfilled our olhei ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provide a basis for Our opinion.
Conclusions relating to going concem
In auditing the financial statements. we have concluded that the trust*s' use of Ihe going con￿rn basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not idenlified any material uncertainties relating lo events or
conditions that. individually or collectively, may cast significant doubl on the charity's ability lo conlinue as a
going concern for a peri(xl of al least ￿e1ve months from when the financial stslemenis are aulhorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections ol this report.
Other information
The trustees are responsible for the other information. The other inlormats'on comprises the information
included in the Annual Report, other than the financial slatements and our Report of the Independent Auditors
Ihereon.
Our opinion on the financial statements does not cover the other information and, except lo the extent
otherwise explicitly slated in our report. we do not express any fom of assuiance conclusion Ihereon.
In connection with our audit of the financial statements. our responsibilty is to read the other information and,
in doing so, consider whether the other informab'on is tnalerially incon51slenl with the financial slalemenls or
our knowledge obtained in the audit or otherwise appears to be materially misstated If we identify such
material Inconsistencies or apparent material misstalemenls, we are requiied lo determine whether this gives
rise lo a material misslalemenl in the financial slalemenls themselves. If, based on the work we have
performed, we conclude Ihal there is a material misslatemenl of Ihis olher infomalion, we are required to
report that fact. We have nothing lo report in Ihis regard.
Matters on which we are required to report by exception
We have nothing lo report in respect of the following matters where the Charities (Accounts and Report51
Regulations 2008 requires us lo report lo you if, in our opinion".
the Information given in the Report of the Corporate Trustee is inconsistent in any material respect with the
financial slalemenls", or
sufficient accounting records have not been kept." or
the financial slalemenls are not in agreement with the accounting records and relurn5' or
wè have not received all the inloimalion alld explanations we iequire lor our audit.
Page 7

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
Responsibilities of trustees
As explained more fully in the Statement of Trustees. Responsibilities. the trustees are responsible for the
preparation ol the financial 51alements which give a true and fair view. and lor such inlemal control as the
Iruslees determine is necessary lo enable the preparation of financial statements that are free from material
misslalemenl, whether due lo fraud or error.
In preparing the financial stalemenls. the Irustees are responsible for assessing the charity's ability to
continue as 8 going concern, disclosing. a5 applicable, matters related lo going concern and using the going
concern basis of accounting unless the Itustees either intend to liquidate the charity or to cease operations, or
have no realistic alternative bul to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the charib.es Act 2011 and report in accordan
with the Act and relevant regulations made or having effect Ihereunder
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslalemenl. whether due to fraud or error, and lo issue a Retx)rt of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an
audit conducted in accordance with ISAS IUKI will a￿yS detect a material misslalemenl when il exists.
Misslatemenls can arise from fraud or error and afe considered material if. individually or in the aggregate,
they could reasonably be expected lo influence the economic decisions of users taken on the basis ol these
financial slalemenls
The extent to which our procedures are capable of detecbng Irregularit￿S, including fraud is detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate
competence. capabilities and skills lo identify or recognise non-cornpliance with applicable laws and
regulations",
we identified the laws and regulations applicable to the charity Ihiough discussions with Iruslees and
management, and from our knowledge and experience of the sector".
we focused on specific laws and regulations which we considered may have a direct material effect
on the financial slalemenls or the operations of the charity, including the Charities and Companies
Acts and the Charities SORP. laxalion legislation and data protection. anti-bribery. employrnenl,
environmental and health and safety legislation. parts"culaty in relation lo the safe-guarding ol young
persons",
we assessed the extent of compliance with the laws and fegulalions idenb'fied above through
making enquiries of Iruslees and management and inspecting legal correspondence,. and
identified laws and regulations were communicated within the audit leam regularty and the team
remained alert lo instances of non-complian￿ throughout the a￿lit.
Page 8

Report of the Independent Auditors to the Trustees of
The Lytham Schools Foundation
We assessed the susceptibility of the charity'5 financial statements to material misslatemenl, including
obtaining an understanding of how fraud might occur, by".
making enquiries of trustees and management as lo where they considered there wa5 susceptibility
lo fraud, their knowledge of actual. suspected and alleged fraud.. and
considering the internal controls in place to mitigate risks of fraud and non-eompliance wth laws and
regulations.
To address the risk of fraud through management bias and override of controls. we..
performed analytical pr￿dureS to idenlfy any unusual or unexpected relationships..
lesled journal entries to identify unusual Iiansaclions.
In response lo the risk of irregularities and non-compliance wilh laws and regulations, we designed
procedures which included. but were not limited to".
agreeing financial slalement disclosures to underlying SUPFK)rtirKJ ¢kscumentalion",
reading the minutes of meetings of Ihose charged with governance.,
enquiring of trustees and management as lo actual and potential lits"galion and claims,. and
reviewing correspondence with The Scout Association. Local &)vernmenl bodies. HMRC. relevant
fegulalors includin9 the Health and Safety Execub"ve, and the charity's legal advisors.
There are inherenl Iimilalions in our audit prO￿dureS desctibed aLK)ve. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become aware of
non-compliance. Auditing standards also limit Ihe audit procedures required lo identify non-compliance with
laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and
legal correspondence, if any.
A further description of our responsililities for the audit of the financial staiemÈnts is located on the Financial
Reporting Council's website al www.frc.org.ukjaudilorsfesponsibililies. This description forms part of our
Report of the Independent Auditors.
Use of our report
This report is made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities
(Accounts and Reportsl Regulations 2008. Our audit work has been undertaken so that we might slate lo the
charily's Iruslees those mallers we are required to slate lo them in an auditors. report and for no other
purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other
than the charity and the charity's Iruslees as a body. for our audit work. for this report. or for the opinions we
have formed.
J CfQP
Mcmillan & Co LLP
Chartered Accountants and
Slalutory Auditor
11 September 2025
Page 9

The Lytham Schools Foundation
Statement of Financial Activities
for the year ended 31 December 2024
2024
Total
funds
2023
Tot81
funds
Unreslricled
funds
Restricted Endtrwrnenl
funds
funds
Note5
INCOME AND
ENDOWMENTS FROM
Inveslmenl income
281,614
33.968
315.582
294,131
EXPENDITURE ON
Raising funds
9.472
6,513
15,985
16,194
Charitable activities
Education
728.971
728.971
323,531
Other
3,960
3,960
3,630
Total
742.403
6.513
748,916
343,355
Nel gains on inveslmenls
139.649
29.966
4,127
173,742
402,844
NET
INCOMEIIEXPENDITURE)
{321,140)
57.421
4.127
{259.5921
353,620
RECONCILIATION OF
FUNDS
Total funds brought forward
16.179.668
1,146,323
231.547 17.557.538 17,203,918
TOTAL FUNDS CARRIED
FORWARD
15,858.528
1.203.744
235,674 17,297,946
17,557,538
The notes form part of these financial stalements
Page 10

The Lytham Schools Foundation
Balance Sheet
31 December 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted Endowment
funds
funds
Notes
FIXED ASSETS
Investments
Investments
Investment propety
4,264.953
10 11,533.310
1.132,835
217.298
5,615,086
11,533.310
5,980,034
11,533.310
15,798.263
1.132.835
217.298 17.148,396
17,513,344
CURRENT ASSETS
Deblors
Cash al bank
10,568
92,354
10,568
181,639
17,446
137.839
70.909
18.376
102,922
70.909
18.376
192,207
155,285
CREDITORS
Amounts falling due within
one year
12
142.657)
142,6571
1111,0911
NET CURRENT ASSETS
60,265
70,909
18.376
149,550
44,194
TOTAL ASSETS LESS
CURRENT LIABILITIES
15.858.528
1.203.744
235,674 17.297.946 17,557,538
NET ASSETS
15.858.528
1,203,744
235,674 17,297,946 17,557,538
FUNDS
Unreslricled funds
Reslricled funds
Endowment funds
13
15,858,528 16,179,668
1.203,744
1,146,323
235,674
231,547
TOTAL FUNDS
17.297,946
17,557.538
The financial slalemenls were approved by the Board of Trustees and aulhorised for issue on
11 September 2025 and were signed on its behalf by".
Trustee
The notes form part of these financial slalemenls
Page 11

The Lytham Schools Foundation
Notes to the Financial Statements
for the year ended 31 Decernber 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP {FRS 1021 'Accounling and Reporting by Charities".
Slalemenl of Recofflmended Practice applicable lo charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
leffeclive 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalemenls have
been prepared under the historical cost convention, with the exception ol investments which are
included al market value. as modifEd by the revaluation of certain assels.
The presenlalional currency of the charity is FK)und sterting l£)-
The amounts in the financial statements have been rounded to the nearest £1.
There are no material uncertainties about the charity's ability to continue.
The charity has taken advantage of the following disclosure exernption in preparing these financial
51alemenls, as permitted by FRS 102 'The Financial Reporting Standafd applicable in the UK and
Republic of Ireland
the requirements of Section 7 Statement of Cash Flows.
Financial instruments
Financial instruments are classified and accounted for according lo the substance of the contractual
arrangement as financial assets, financial liabilities or equity inslrumenls. An equity inslrumenl is any
contract that eVIden￿S a residual interest in the assels of the company after deducting all of ils
Income
All income is recognised in the Statement of Financial Activities once the charity has entillemenl to the
funds, it Is probable that the income will be r￿1Ved and the amounl can be measured reliably.
Expenditure
Liabilities are re¢ognised as expenditure as soon as there is a legal or conslruclive obligation
committing the charity lo that expenditure, il is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure 15
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related lo the category. Where costs cannot be directly attributed to particular headings they have been
allo¢aled lo activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been mel at the year end dale are noted a5 a
commitment bul not accrued as expenditure.
Investrnent property
Inveslrnenl propety is shown al most recent valuation Any aggregate surplus or deficit arising from
changes in lair value is recognised in the Statement of Financial Aclivilies.
Taxation
The charity is exempl from lax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitsble objectNes at the discretion of the
Iruslees.
Reslricled fLJnd5 can only be used for particular reslricled purposes wilhin Ihe objects of the charity
Restrictions arise when specified by the donor or when funds are raised for particular reslri¢led
purposes.
Page 12
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
ACCOUNTING POLICIES- continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes lo the financial
statements.
Realised gains and losses
All gains and losses are tsken lo the Slalemenl of Financial A¢livities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening
carrying valLJe or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference ba￿een the fair value al the year end
and their carrying value. Realised and unrealised investment gain5 and losses are combined in the
Statement of Financial Aclivilies.
Investments
The investments are included al closing mid-markel value at Ihe balance sheet dale. The cost of
investments includes commission paid to the investment manager5. Any gain or loss or revalLJalion is
taken to the Slalemenl of Financial Activities.
INVESTMENT INCOME
2024
2023
Rents re￿1vable
Inveslmenl income
183.018
132,564
161,698
132,433
315.582
294,131
RAISING FUNDS
Investment management costs
2024
2023
Investment manager's fees
15.985
16,194
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Isee note
51
Direct
C0515
Totals
Education
20.147
708.824
728,971
Page 13
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
GRANTS PAYABLE
2024
2023
Education
708,824
308,413
The lolal grants paid lo inslitulions during the year was as follows-.
2024
2023
Heyhouses Endowed CofE Primary SchTh)I'.
Contribution towards Building Repairs
ICT Equipment
Contribution lo Library
Sports kit
Heyhouse5 Endowed CofE Nursery School
Staffing and Support
Grant towards Loan Interest
Grant towards Summer School
Grants towards Easter School
Grant towards October half term School
Lytham CofE Primary School..
Contribution towards Building Repairs
Nursery Subsidy
Coach Subsidy
Contribution to EYFS Ould(x)i Area
AKS Lylham Independent School".
Bursaries Contra Rent
Supplementary Bursaries
- PEAKS Programme
Fee Assistance
Fylde District Scout Council - Equipment
Coastal Collective
Set Up Costs
Grant
Lytham Sl Annes High School
Contribution to DofE Programme
Contribution lo pasloral care
St Bedes Calholio High School
Contribution to pastoral care
Lytham Cricket Club
Contributions lo building new changing rooms
The Fylde Rugby Community Foundation
Park View 4U
Contribution to New Education Centre
Our Lady Star of the Sea Catholic Primary School
Contribution lo Forest School
st Thomas, C of E Primary School
Contribution to Forest School
Sl Peter's Catholic Primary School
Contribution to OPAL Programme
Sundry grants
7,640
10,616
1,000
700
16,717
44.508
22,705
8,750
1,486
2,175
5.158
39.105
4,891
7,209
(27,81 $1
{40,0001
240
14.450
177.800
14,616
3,000
4.086
156,480
38,245
15821
294.269
144,7331
42,081
7.365
26,225
35,600
32.000
10,000
6,750
55,000
4,800
5.000
8,000
12,450
9.250
708,824
308,413
Page 14
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
GFiANTS PAYABLE- continued
The charity has opted lo use the available disclosufe exemption provided by Charity law to charitable
trusts 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 Iroffl which the grants are paid
or during the lifetime of any spouse or civil partner of the settlor_
SUPPORT COSTS
Governance
costs
Other resources expended
3,960
Auditors remuneration for the year was £3,96012023." £3.630)-
TRUSTEES. REMUNERATION AND BENEFITS
Trustees. expenses
There were no Iruslees, expenses paid for the year ended 31 December 2024 nor for the year ended
31 December 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unreslricled
Reslricled Endowment
funds
funds
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Investment income
264,275
29,042
814
294,131
EXPENDITURE ON
Raising funds
10,064
6.130
16.194
Charitable activities
Education
323.531
323,531
Other
3,630
3,630
Total
337,225
6.130
343,355
Net gains on investments
309.126
80,783
12,935
402,844
NET INCOME
236.176
103,695
13,749
353,620
RECONCILIATION OF FUNDS
Total funds brought forward
15,943,492
1.042.628
217,798 17,203,918
TOTAL FUNDS CARRIED FORWARD
16,179.668
1.146.323
231.547
17.557,538
Page 15
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
FIXED ASSET INVESTMENTS
2024
2023
Shares
Loans
5.338,586
276.500
5,679,034
301,000
5.615.086
5,980.034
Listed
investments
MARKET VALUE
At 1 January 2024
Additions
Disposals
Uniealised gains
5.679,034
282,308
1816,9841
194,228
At 31 December 2024
5,338,586
NET BOOK VALUE
At 31 December 2024
5,338,586
At 31 December 2023
5.679,034
other loans
Al 1 January 2024
Repayments in year
301,000
124,5001
Al 31 December2024
276,500
The loan is repayable by quarterly instalmenls of £6,125.
The listed investments are analysed below..
Fixed interest securities - UK
Equities - UK
Equities - Overseas
Infrasliuclure and operating assels
Olher investments
Cash and near cash
1,129,512
828,951
2,691,159
204.641
302.949
181,374
21.16
15.53
50.41
3.83
5.67
3.40
Total overseas investments
2,691,159
50.41
Page 16
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
10. INVESTMENT PROPERTY
FAIR VALUE
Al 1 January 2024
and 31 December 2024
11.533.310
NET BOOK VALUE
Al 31 December 2024
11.533,310
Al 31 December 2023
11,533,310
The investment properties have been valued by Robert Pinkus & Co LLP Chartered Surveyors 21
market value al 18 October 2021. The corporate Injslee believe5 that the market value has not
materially changed since Ihis valuation. The next valuation is due in October 2026.
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtors
10,568
17,446
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditors
42.657
111,091
13. MOVEMENT IN FUNDS
Net
movement
in funds
At
31112124
At 111r24
Unrestricted funds
General fund
16,179,668
1321,1401 15,858,528
Restricted funds
Funds designaled exclusively for AKS
1,146,323
57,421
1,203,744
Endowment funds
Capital accumulation fund
231,547
4,127
235,674
TOTAL FUNDS
17.557,538
1259,5921 17,297,946
Page 17
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
13.
MOVEMENT IN FUNDS- continued
Net movement in funds. included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
k)sses
Movement
in funds
Unrestrlcted funds
General fund
281.614
1742.403)
139,649
1321,1401
Restricted funds
Funds designated exclusively for AKS
33.968
{6.513)
29.966
57,421
Endowment funds
Capital accumulation fund
4,127
4,127
TOTAL FUNDS
315.582
1748.916)
173.742
1259.5921
Comparatives for movement in funds
Net
movement
in frjnds
Al
31112123
At 111r23
Unrestricted funds
General fund
15,943.492
236,176
16,179,668
Restricted funds
Funds designated exclusively for AKS
1,042.628
103,695
1,146,323
Endowment funds
Capital accumulation fund
217.798
13,749
231,547
TOTAL FUNDS
17.203,918
353,620 17,557,538
Comparative nel movement in funds, included in the atx)ve are as follows..
Incoming
resources
ResOUr￿S
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
264.275
(337.2251
309.126
236,176
Restricted funds
Funds designaled exclusively for AKS
29.042
16, 1301
80,783
103,695
Endowment funds
Capital accumulation fund
814
12,935
13,749
TOTAL FUNDS
294,131
(343.355)
402,844
353,620
Funds designated exclusively for AKS are made vp as follows..
Page 18
continued...

The Lytham Schools Foundation
Notes to the Financial Statements - continued
for the year ended 31 December 2024
13.
MOVEMENT IN FUNDS- continued
2024
Endowment
2024
2023
Restricted Endowment
2023
Reslricled
Mellor Lecture Trust
Mellor Scholarship
Wollson 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
1,511
3.587
111.544
105,252
924
704
4,782
7.370
11,676
25,530
18.168
8,989
620
1,571
4.104
575
20,894
1,111,617
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
235,674
1.203,744
237,547
1,146,323
14.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024 or for the year ended
31 December 2023.
15.
ENDOWED AND RESTRICTED FUNDS
Endowed and resllicted funds are to be applied as ft)Ilows'.
Mellor Lecture Trust and Mellor Scholarship
Financial assistance to pupils undertaking extra-curricular activit￿s.
Wolfson Scholarship and Woltson Sixth Fomi Fund
Assistance towards school fees in special circumStan￿s.
Donovan Travel Fund
Fred H Hill Fund
Denys Ingham Travel Fund
Assistance towards expenses of educational visits.
Tom Bleasdale Memorial Fund
Funds lo support and develop the game of Rugby.
Prize Funds
Pryzes and awards.
Investment Asset Fund
Funds Invested in land, buildings and equipment.
The Jean Mary Robinson Memorial Fund
In 2021 the charity received a subslanlial legacy donation £1.047,000 from the estate of the late Jean
Mary Robinson. who was a former pupil of Queen Mary's &hool and became a lifelong History
leachei. Her wishes in granting the donation were lor the funds lo be pla￿d into a reslri¢led fund for
the sole use of AKS Lytham Independent School. She requested that the funds be used lo increase
the number of bursaries or other educational projects lo benefit the school and ils students in allaining
places and enriching their learning experiences. including a focus on history.
Page 19