Chortty No: 526428 Roper Educational Foundation Report and Accounts For The Year Ended 31 December 2024
ROPER EDUCATIONAL FOUNDATION CONTENTS Trustees and Èdvisers Tru$tees' report Independent examinerfs report Statement of financial activities Balance sheet Notes to the accounts
ROPER EDUCATIONAL FOUNDATION TRUSTEES AND ADVISERS Nornin•ted tr4bBtsg¥ Rev HJ Duffy SJ- Chaimian HA Rigby-TreasuTer Rev PM Fletcher SJ Iiesigned 31 May 20241 AM Hall M Holdsworth Ropr•s•ntatlv• truBt•• DJ Mein Correspond•nt Mr M Burrow Bladthyrsl Swainson Goodier Solicitors 3 8 4 Aalborg Square Lancaster 11GG Property •d¥l88r HDAK 82 Pittman Court Fu00d Preston PR2 1GG Reglsterod office Sl WiSfnd's Presbyiery 1 Windttey Square Preston PR1 3JJ R•q18tered chartty numbèr 526428 Indepondant èxamln•r M Cuerden ACA Haley$ 8usiness Adwsers Thomas House Meadowuoft Bu5ina¥s Pa Pope Lane Penwortham PR4 4A2 8*nkw8 Skiplon Building Soctety 99 Fishergate Preston PR1 2AE Custodsan of propèrty The Official Custodian for Chaiities
ROPER EDUCATIONAL FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report the financial slalemenls ol the charity for the year ended 31 Decernber 2024. The trustees have adopted the provisions of the Statement of Re¢omrnended Practiee ISORPI'Acctsunbng and Reportillg by Charities. IFRS 1021 in preparing the annual report and financial siaternent5 of the ¢h8rity. The fin8ncial statements have been prepared in accordance ¥wth the occounting policies sel out In notes to the accounts and complywith the charity's governing document, the ch8riliesAel 2011 and Aeeounling and Repo.ng by Charities. Statement of Recommended Practice applicable lo charities prepari4g their accounts in accordance with the Financi81 Reportin9 St8ndard apICab in the UK and Rapublic of Irelgnd published in Octobar 2019. Oblocttvès and aetlvities Roper Educational Foundation is conslrtulsd under 8 sthedule dated 4 May 1964 and wa$ registtrrgd a$ o charfly on 15 Septembèr 1964. The objects of the charity are to benefit any maintained Roman Catholic School situaled Wbthin the bounderies of the fomier Borough of Preston lin 19641 and to give bursaries to boys and girfs under the age of 26 years who are current or lomer pupils of St Wilfrid's RC Primary School or are residents of the Pari8h of St Wiifrid. The trustees have referred lo the guidanGe CQMlalned in the Charity Commission's general guidance on public b•n0frt wh•n T•vléwln9 tho Charity'$ aim objeetivos, and in planning futurè Obl•eJ. Trn*t$ Undèr thè Tnjst Deed, Irustees are appointed for a period of three years. The Injstees who have served during the year slnce the year end are sei out on pagè 1. Trustees are appointed by the trustee8 of the stletY of Jesus, the representative trustee is appThnled by the Education Committee of LancaBhire County Councll. Tho exi51ing tru51ge$ aGcepl the obligation to lully inlorfn a naw trustee of thè dulle¥ ond retypon$ibiliti¢s of tharity Iwstees by providing the new trustee with copies of the goveming instrument lin this case the charity commission sch&me clated 4 May 19641. minLttes ol previous rneeling6 of the trustees, Tecenl annu¥l accounts of thtr tharity and the relevanl charity commission publication relating to the responsibilibes of trusleeg. Grant rnaklng policy The trustees advertise the availability ol funds through the intemet and by letters written to the Heads ol elTgible schools. The take-up Is shown in the notes to the accounts. In 2024 tour grants were mad& tr schools t•ut no grants io IndildualS. Flnancial ro¥lew The net inccming resources for the year were £180612023". gutgoing f29191 det•il$ of whKh are shown on page Resgrve$ policy Thè truste¢s have revi•wed their Reserves Policy and aim to hold a cash reserve of £55,000 I20255.000I. Thi5 recognise5 that over of the charity'g income is dependent on one tenant. In the event of a default or rental void cash would be required to re-mgrket the property, cover management and administration cnsts and tts responLI to emergency applications for grants which arise from time to time. At the year end unrestricted reservos were £92,732 so the charily meels this policy. Approved by the trustees on I and signed on their behalf by. Rev HJ Dthy SJ - Chaimi8n
ROPER EDUCATIONAL FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 I report to the charity trustee5 on my examinatio of the accounts of ihe charity for the year ended 31 December 2024 which are set out on pages 5 to 11. Re•pon$sbilItl and b•$i8 of report As the charity's trustees you are responsibl¢ lol the preparation of the a¢¢ounts in acwrdance with the requirements of the Charities Act 2011 I'the Act'i. I report in respect of my examination of the charity's accounts carried out under section 145 ol the Acl and in ¢grrying out my examinats.on I have followed all the applicable Directions given by the Charity Commission under secknon 14515llbl of the Act. Independ•nt •xamln•r'• $tstem•nt I have completed my MInatiOn. I confitm that no mate¥ial matters have corne to my attention in connection with the examination giwng me Esuse to believe that ITE any tnaterial respecL accounting records were not kept in respect of the charity as reqoired by section 130 of the Act., or 2. the aCcouts do not accord wfth those records", or 3. the aountS do notcOmpth the applicable iequifements concerning thefomi and content ol accounts set out in the Chari1I8s (Accounts 8nd Rèport$l RgguiwtDns 2008 other than any requir•ment that the a¢covnts give a 'true and fair view which is not a mattèr considered as part of an independent examination. I have no concerns and have come across no other matters in connection wrth the examination to which attention should be drawn in this repori in Order lo en8ble a proper understanding of Ihe accounts to be reached. 7035
ROPER EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 DECEMBER 2024 Unrestrlcted Endoyment Fund Fund Tota5 2024 Total 2023 Nots Income from.. Inveslrngnls 67.808 67,808 S5,629 Total Incom• 87,808 67,808 85.629 Exp8ndltur• on.. Rttising funds.. Inveslrnent rllana9ement costs Charitable activrties 10,132 56.870 10,132 66.870 20.346 4e.202 Total exptndlture 66.002 66,002 68,548 Net Incomollexpendlture} 1,806 1,806 12,9191 N8t movement In fund¥ 1,806 1,808 12,9191 Total funds brought forward 90,925 810,000 900,925 903,844 Total funda caThied f07ward 92.731 810,000 902,731 900.926 l incorne 8ncI expenditure Is derived from continuing #etivities.
ROPER EDUCATIONAL FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fix•d a8s•ts Investment properties (endowment fundl 810,000 810,000 Currgnt #•¥et• C89h 81 bank Debtors 89,092 6.751 72,216 20,961 Total current assets 94.843 93.177 Credllors amount8 falling dÈtè Wlthin ong ye•r 12,1121 12,2521 N•t ewr8nt •#•8t• 92,731 90,925 Net as¥¢ts 902,731 900.925 Thofunds of the charlty: 10 Unrestrl¢ted lun4 Endowment fund 92.731 810,OQO 90.925 810,QQQ 902.731 900.925 The notes et pages 6 to 10 fomi part of these accounts. These aceounts were approved by the Trustees on .. and signed on their behalf by.. Rev HJ Duffy SJ- Chaimlan HA Rlgby- Treasurèr
ROPER EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Aeeounting pollel•8 Basi9 of accounting Roper Educational Foundation is a registered eh#rity in England. The address of the registered Off i given in the charity infomalion on page 1 01 these financial statements. The nature of Iht charity's operations and prinupal activities are lo benefit any m3inl3ined Roman Catholic School situaled within the boundaries of the former Borough of Preston lill 19641 ancs to give bursaries to boys and girfs under the age of26 years who 8re eurrent or fomier pupp of St Witfrids RC Primary School or are resldents of the Parish of St Wiwrid. The ch8rity constitute5 a public benofrt entity as defined by FRS 102. Th8 fin8nchql statomonts have been pr8pared in accordanc& wth Accounting and Reporting by Chantlag.. Statament of Recornmended Practice appIable to char13 preparing their accounts in accordance wih the Financial Reportlng Standard appllcable in the UK and Rapublic r)f Irelantt Issued in October 2024. the Finan¢ial Reporting Standard applicable in the United lth"ngdtsm and Republic of IreLqnd IFRS 1021, the Charits•¥ Act 2011, and UK Gencrally A¢cepled Accounting Prath"ce. The flnanclal $tatemtrnts have been ppared to glve a 'true and fair, vlew and have departed from Ihe Charit5 (Accounts and Rep¢rtsl Regulations 2008 onty to the extent requlred lo provlde a 'true and fair vie%rf. Thi$ departure has involved following the Accounting and R•porting by Charities.. Statement of Recornmended PraLliGe applirable to PTep8rlng thtrir accounts in accordance wth tho Fin*ncial RepDrtir¥g Standard applicable in the UK and R&public ol Ireland issu&J in October 2021 rather than the Accountin9 and Reporting by Charitw.. Ststèment of Reeommended Pr8du effective from 1 April 2005 which has since been wrthdrawn. The accounts have beer> prepared on a going concern basis under the historical 5t Convention WTth iterns recognised at tost or transaction value vnles$ otherwise stated in the relevant notelsl to these accgunt8. The signfficant accounting policio$ applied in the preparation of these financial st¥t8monts S set oul below. These policies have been consi8tentty applied to all ye8r3 presented unless otherwise stated. Ineome recognltlon All income is recogni5ed onee the chaty has entiuernent to the income, there 1$ 5Lrfftcrnt certainty ol receipt and so It Is probable that the income will bo Tecetved. and the amount of Income recèivable can be measured reliably. Interest on funds hetd on deposit is included upon Th0trftiOn of the interest paid or payab by the Bank.
ROPER EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcio$ l¢ontinu•dl Rvsourc•8 ?Mpendod Liabilth'es are recogniseo as expendrture as soon as ther8 is 8 lègal or eonstruetive obligation commrtting the charity lo that expenditur¢, it is probable that settlement wll be required and the amount of oblig8liDn can be measured reliably. l expenditure is accounted for an accruals ba$is. Grants payabl• are payments made to third partie8 in the furtherance of the charitablo objects of th Trust In the case of an unconditn81 grant offer this 1$ accrued once the recipient has been notffièd of the grant awafd. Grant award5 that are subject io ihe iecipient fulfilling performance cond"rtIOnS aTe only accrued when the recipient h?s been nottfied of the grant and any remaining unfiJlfilled conditions attaching to that graTTt aro outside of th& control of the Trust. Provisions for grants are made when the intentK>n to make a grant ha5 been c1mum1cated to the recipient but thère is unetsrtainty as to thè b'ming of th8 grant or the amount of 9r2nt payabl8. Governance costs include those Costs a8sou8ted with meeting the constitutional and statutory re¢uirernents of the charrty. Irrecoverable VAT Is charged against the expenditure headin9 for which it Was incurred Fund• Vnrestricted income fund8 comprise those fund5 which lh8 Irustees arè free trj use for any purpostr in furtheiance ol the ¢hérit8ble objects. The endowTnent fund repTe8ents those assets which must be tteld pemianenlly by the charity. Income arISng on the endowment fund can b& used in accordance with the objects of the charity and is included as unreslrioted income. Any capital 9ains QT losses arising on the Investmenis form part of the fund. Investment management charges and legal advice reLating to the fund are charged 89ainst the fund. This fund Is represented by the freoholtt land and buildings owned by the Trust, Roper Hall and 145 Markel Street We. Furthèr det811s ol each fund are disclosed in note 10. Inv•8tm•nt prop•rtlo$ Investment properties for which fair value can be measured reliably without undue cost or effort are measured al fair value at each reporting dats with ¢h3nges in fair value recognised in'net gainslllossesl on investments, in the SOF
ROPER EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlng pollcleB IntInued) Dabtor5 and cr•dltors r•clvablelpayabl• wllhln one year Debtors and creditors with no stated interest rate and receivable or pay3ble wthin one yea¥ arts recDrd at transaction pric. Any SseS arising from impaiment are recognised In expenditure. Golng concern The financial slalem8nls have beon preparod on a g¢ing eoncem basis as the Irustees believe th81 no material uncertainties exist. The trustees have conSered the level of lunds held and the expected level of income and expenditure lor 12 months from aLrthori$ing these financial 5tatoments. On page 4 of the Trustee Report the Truslees have reviewed the impad tsf Cowd-19 and beli&ve ther8 will be no going Conrn issues 3s a resutt of it. The budgèted Ineomt and oxpenditure k4 sufficient with the Ve1 of roseNes for the charity to be ab to continue as a going concèm Judgments and koy sourcm of •$tlmatlon unc•rt•lnty Thè followlng judgement$ lapart from those Involving estim8te81 have been made the process of applying the above accounting policitrg ihat hxve had tha most significant vff8ct on 4mounts rewgni8ed In thg linancisl 5tatements'. The invo$lm&ni prtsperty W8s valued by HDAK at the 31 December 2015 as £810.000. The trust8es fCniSe that this value may have been irnpacted by the Curreni uncertainiies surrounding the Covid-19 pandemic but believe current fair value cannot be rn¢e8vred reliably without undue wst or eftort at ttTe presant tim¢. InvtM4nt Incom8 2024 2023 Rent Interest on cash deposits Compensation lor bank error 65.242 2,566 65,000 479 150 67,808 65,629 In 2024. all £87.80812023.' £65.6291 of the investment income was attributsble lo unrestricted funds. Inve¥tm•nt managem•nt Go*ts 2024 2023 Repairs, rates and insurance Management fees 4,260 S,872 14.481 5.865 10,132 20,346 In 2024 all £10,132 12023".£20.3461 of Investment management costs were attribut8bl& to unre5trided funds.
ROPER EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charit•blg actlvltlB¥ 2024 2023 Grant to School$ Sl Teresa's Primary School St IgnaÉius's Catholic Pnfflary School St Augustine s Catholic Prirnary School Si Joseph's Pnmary School Bless Sacrarnent Prirnary School 17.075 1S.SfO 6,660 1S,695 12.965 11,587 15,250 7,500 47.302 Admin15tratson Indep&ident exaninerts fee 930 900 55.870 48,202 n 2024 a# £55.87,) 12023.. £48,202) of the expenditure on charitable activities was attiibutable to Ur.r6strict lund& Endependent examITreS remuneration The ir#deFen1 ¢xaFEtiners iemuneralion arnounts lo an independent examination fee of £775 excluding V.4T li rÉ4akn lo the year tts 31 DecembÈr 2024 and £750 excluding VAT in rela.0 to the year to 31 De(EMb 223. Tn, and key managernent personnel remuneration and expenses The tr.Jees ¥eNed nor waived any remuneration during the yeai12024". £Nill. Tkie tua, .&)yee beneffts reNed by key managernent perBonn¢l 15 £nil12024." £nill. The Mag&Tren1 FÉFsonnel cornprise the trustees. 4 WsteS f4 Bny expenses relbUr5ed during the year12024'. £nill. Frohold po¥e6trtrt propefty The r.a£keF. tne land and bU1ngS known as Ropèr Hall. 1131114 Friargate. Preston and &sea West. Presttsn was a%sessed by HDAK Commerci31 Propety Consultanls, B2 Pittrnan Gxv. Way, FdA¥cYJd, Preslon PR2 9ZG. The valuation w88 undertaken by Martin Ainsworth AIRICS ès a cbrectof of the firrn 3nrS is a member of the Royal Institute of Chartered Surveyors and 105 ifJ Yea eXpene4 in tre valuation of commercial propeny with particular emphasbs on P. Ha9 08rf to the present condition and current occupation ofeach ollhe 2 propertie5. HDAK .. trot thè rnarket value as at the 31 December 2015 may reasonably be assessed at a level of LÈ1¥ In Ihe opInn of the Trustees the valuation of freehold land and buildings at 31 $t Dember
.24 wjains al £810,000.
ROPER EDUCATIONAL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 D8btor8 2024 2023 Due from Tenants 5,7S2 20,961 5,7S2 20.9e1 CreditOT¥.' amoynts falling due within on• y8ar 2024 2023 P.4ap,agemer.l Fees lr,der.deThf ?xarnJna'&Kyn feos Losal a-.d p*e'eL¢iopal fees 432 930 760 430 900 750 172 2,112 2,252 Urrp5trict¢d gfjn•ral fund i..s Is Tr"eSeIe èy net current assets. Ur,.,tr4 fJr,A5 .-92 732 '2023.' £90.9251 are available for applic8tion by the Chanty undèr the ierms e aE.J ea fo," chBrTE3ble purposes at the direction of the tru5lees. Permanent endovrnient fttnd Thts t'-Q is represen4ed by Ire £810.000 12023" £810.ODDI investment property owned by the Trust. RgFe. a?d 145 Maet Street West. There has been no movernent in the fund during the year. Trnnsactions vrilh tryst998 There a relaled paty transactions of £15,510 with St Ignatius Primary School in the year ol whid) one Trustees Is a Governor 12023". £12,965). There was no transadions with trusl8e8 and no expenses or remuneration were paid to trustees during th6 y8ar12024'. £nill. Ther8 WBS no prof•ssion81 indemn1ty Insurance In place durino the yearfor the trustees. -11>