REGISTERED cHARy NiiMBER: 526599 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR HINDLEY AND ABRAM GRAMMAR SCHOOL Fouf4DATION Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WNI 2TB
HINDLEY AND ABRAM GRAMMAR SCHOOL FOIJNDATION CONTENTS OF I'IIE FINANCIAL STATEMENTS for the Year Ended 31 mAh 21124 Page Report Dfthe Trustees Indepeident EJaminer'$ Report Sth¢¢meDt Of FiDADci•I Attivities Sts¢ement of FinADciI Positio P4otes lo tbe FiDgnciI StitemeTrts 7 to 10 De¢#iled Ststtment of Flnanclal Actlvlttes
HINDLEY AND ABIi4M GIL4MMAR SCHOOL FOUNDATION REPORT OF THE TRUSTEES for tlL¢ Yer Ended 31 Mareh 2024 The ttuste¢s present their r¢port with the finalleial sts¢emenis of the charity for the year ¢nded 31 March 2024. Thc trusiees have adopted th¢ provisions of Accounting and Reporting by Charities= Siatement of R¢¢ommended Pra¢ii¢e applicable to charitie5 pr¢panii¥ their accounts in awdan¢¢ with th¢ Financial ReTX)rting Standard applicable in the UK and RubliC of Ireland IFRS 1021 (effective l January 2019). OBJECTIVES AND ACTIVITIES ObjtetiV¢S ¥Dd alms Tn brief, the primary obicctives are to promote the ¢du¢ation of persons UTMl¢r the a8e of 25 yeaTS in the Metropolitan BOrgh of Wigan with tlY pref¢rence for such per5L)ns who reside in either ihe forn]er UTbon Distri¢ts of Hindley or Abram and who are In need of financial assisranc¢. Full details of th¢ assislance available, together with appropriate appli¢ation fornis, can be obthined from the s#r¢tary to the trustees. ACHIEVEMENT AND PERFORMANCE Rev5ew of A¢tlvllles ind Fylure D¢v¢lopmtllt The trustees have coniinued to Promote th¢ ¢harity and have direct contact with appropriate edu¢aliot)al establishments. Th¢ tn{eeS have continued to make appropriate awards and 15 awards were made this year. The trurts Contirtue to actively seek beneficiarie5 for the remaining accumulated income and during 24125 will contirhue wlth their strategy to attract additional applications from individuals and from Wtgan Council schods. This year gr8nts have r8nged frotn £150 to £20,000 10 10 schools and 5 sdentS Lmdertaking courses of edueation in schools. colleges and universities. Grants have been made in iegard of course ftts, examinaiion fe¢s, books and equipment, mainienance allowances and trav¢1 ¢xp¢nses. StLMlents are erKourd8ed to rcport their progres& The trustees have due regard to the public FnefLt regime in ihcir consideratiort of grant assistsn¢e so that tlrir a¢tions dcmonstTate their commiimenl io s*isfying the appropriAte requirements. The tnjstees also have due Tegard to the published guidance on the subjeet in their de11btrIQnS (The Advan¢emenl ofEdu¢ation for Public Benefiil and &l(pPt lis prin¢iples in delivering the 4iTns And objectives of the Tnkqt ac¢ordit)8ty. There are no private or irKidentsl benefits a¢cwing to trustees. FINANCIAL REVIEW luveslment poli¢y gnd objectives The tsustees have wide powers of inv¢stment. They have appointed Rhly)ne Investmeni Mry¢ment Limited to manage theTrr funds. These funds should be managed prud¢ntly with the avoidattce of undue risk, Mith all invesbn¢nts to be quoted () a r¢¢ognised sto¢k exchange. The trustees are to rtteive regular perfonnanct reports fromth¢ir manag¢r. The trustees will revi¢w their policy from tirne to time when necessary and prudeni to do so, Reserves po15ty The tCeS policy regarding ihe past aUmulatIOnS is referred to in their review of urtivities. Once this UMlatIon has been dealt with, they would rttaill an a¢¢umulalion equal 10 opproximat¢ly six months income to ensure that emergency r¢qu¢sts wi bo STRUCTURE, GOVERNANCE AND MANAGEMENT Constitutii)n The tn]st IS 8ovcrned by a scheme of the Charity Commission dated 2nd May 1997. Previousty it was a scheme dated 2nd Nov¢mber IIXJ9 by the Board of Education as varied by schemes mad¢ by the S¢crdary of State for Education S¢ith¢e On 3] July 1967 and 29th Jun¢ 1970. Oré#olsatloD The Irustte5 meet al regular intervals to &ssess and approve applications for grants and r¢view the athninistration of the charity. The twste¢s consider this to be adequate in a¢hievin8the main objectives of the Charity. Page I
HINDLEY AND AB114M GRAMMAR SCHOOL FOU¥DATION REPORT OF THE TRUSTEES ror the Yefir Ellded 31 Mareb 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered ChArlty #umber 526599 PTIDcipal address 38 Edinburgh Drive HiT¥Jley Green Wigan Lancashire WN2 4HL Trustees The charity rules provide for a b(Mty of trustees coAJsisting of six compet¢nt persons ar¢ divided into thre¢ type5, as follows: l. Cfropted trugle¢s- th¢5e 4r¢ tbre¢ tn]st¢es, each of wknm has a special knowledge of tk Metropoltton Borough of Wigan. They hold office for five years. 2. NomlD4ted trit5tees - these are two such tnjstees being one person nominated by Wtgan Moropolitan Borough Council and one person tKTrminated by Wigan and Leigh College. They hold office for fouryears. 3. Ex-offitio Irustee- this is the irtcumbent for the lime being of the kD¢fi¢e of St. Peter, Hindley. Details of the personswho hav¢ been trustees 5inc¢ 1st April 2023 until the date of thi5 Teport are set out below. cted G M Port¢rEsq- Chairnian- Re•¢Ited ApTiI 2023 for l y G M Porter Esq- Tnl¢e- Re-elected April 2023 for 5 years Mrs V Parr- Trnstee- Kelecied October 2021 for 5 years Mrs A Naylor- TTU5tce- Elected January 2023 for 5 years Notnlnted Marie Tigh¢- Ele(ted October 2021 for 4 years {Appointee of Wigan and Leigh College) Jennifer Mills- Ele¢ted March 2022 for4 years. R¢tired July 2023 replaced by.. MTS C.Tarring- Elecied April 2023 for 4 years. {Appoint¢¢ of Wib¥an Councjl) Ex4)fficio R¢v N.Cook- Apinted January 2023 Independent Enmlner Faithurst Chartered A¢¢owitants Douglas Bal House Wigan Lane Wigan Lan¢ashire WNI 2TB Illvestmetst Advlsers Rathlxjne [ThstMent Management Limit¢d P88¢ 2
HINDLEY AND ABRAM GRAMMAR SCHOOL FOUNDATION REPORT OF THE TRUSIEES for tbe Ye8r Ended 31 Morch 2024 Approved by order ofthe Ix)ard of tnBte¢s ¢)n .................. . and sigrtd on its behalf by: G M Porter- Trnste¢ Page 3
IP4DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HINDLEY AND ABIL4M GRAMMAR SCHOOL FOUNDATION Indepethdent exmIlle$ report to tbe trnsteu of Hindley and Abrarn Grammar SehoDI Foulldalloll I r¢port to the charity trustee5 on my examIn10n of the accoun¢s of Hindl¢y and Abram Grammar School Foundation (the Trusi) for the year ¢nded 31 M8J¢h 2024. RespoDsAbllltles b8s1s of report As the charity tntst¢es of the Trusl you are resw>nsibk for the preparation of th¢ accounts in ac£ordance with the requTrrements of the Charitits Ad 2011 {'the Act,). I report iti respeci of my examination of the TTU5fs ¢015 carried out under Section 145 of the Act and in carrying out my examination I have followed a]18pplicable Directions given by ¢he Charity ComTni5$ion undeT Section 145(5Mb) of The Act. Independenl exam1•¢$ slat¢m¢nt I have Mpleted my examination. I c4)nfirm that no material matters have wme to my attention tn connection with the examination giving me Cause to beltev¢ that in any material respect= ac¢ouniing records were not kepl r¢spect ofthc Trust as required by Seciion 130 of Act. or the accounts do not accord with ihos¢ r¢wrds: or the account5 do t comply with the applicable requirements co¢rningthe fgrnl attd content of 8c¢ounts set out in the Charilies {A¢counts and Reports) Regulations 2008 other than any rtquiremeni thai the accounts give tme and faiF Ew whiGh is not a matter considered as part of arh independent exaMin10n. I have no concerns and have come acros5 no otht¥ matters in connection thith th¢ examination to which attention shId be drawn in ihis report in order to enable a proper unthrstsndin¥ of the accounts to be reached. Mrs Jat Dennis BA (Hons) FCA Faithurst Chartered Accountallts Douglas Bank House Wigan Lane Wigan Lancashire 12TB Dai¢.. Page 4
HIIYDLEY AND ABRAM GIL4MMAR SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES ror the Ye#r Ended 31 March 2024 2024 Total nds 2023 Tota] funds Unr¢stricted fulld PernWt Endownent Notes INCOME AND ENDOITrTrIENfs FROM ItLV¢Stm¢n¢ inwme 28,479 28,479 25,831 EXPENDITURE O RaisiDg fi]Dds 6,023 6,023 5.891 Cbarltabl¢ 8etlvitie5 Core activities 67,713 67,713 37,374 To¢AI 73,736 73,736 43,265 Ne¢ 8ain51{Ios5es1 on i#v¢stments 62,180 62,180 (59,752) NET INCOME/(EXPENDITiiRE Transfers ljetwetn fvnds (45,257) (67,078) 62,180 67,078 16.923 (77.186) mov¢thtnt In thnds 1112,335) 129.258 16,923 177,1861 RECONCILIATION OF FUNDS Total fimds brought forwtrd 162.864 1,040,817 1,203,681 1,280,867 TOTAL FUNDS CARRIED FORWARD 50,529 1.170,075 1,220,604 1,203,68 1 The no*s forn] pffl1 of these firtaTKial staiements Page 5
HINDLEY AND ABRAM GRAMMAR SCHOOL FOLQ¥DATION STATEMENT OF FINANCIAL POSTfioN 31 March 2024 2024 Totsl fimds 2023 Totsl nds UnTestricted Permanent fund Endowinent Notes FIXED ASSETS Investrnents 1,170.075 1,170,075 1.040.817 CURRENT ASSETS Cash at ballk 51069 52,069 164,404 CREDITORS A IUt falling due within on¢ year 11.540) (1.540) (1.540) NET CURRENT ASSETS 50.529 50,529 162,864 TOTAL ASSETS LESS CURRENT LIABILITIES 50,529 1,170,075 1,220,604 1203,681 NET ASSETS 50,529 1,170,075 .220,604 1,203,681 FUNDS Unrestricted funds Endowvnent fLdS 50.529 1,170.075 161864 1.040.817 TOTAL FUNDS 1.220,604 1.203.681 nts w¢re approved by the Board of Trn51ee5 a[ authorised for issue and were $i¢d on its behalf by.. on G M Port¢r- 7"rstee The not¢5 form pjrt of ihese firtancial statements Pag¢ 6
Hif4DLEY AND ABRAM GRAMMAR SCHOOL FOUNDATION IYOTES TO THF. FINANCIAL STATEMENTS lor the Year Ended 31 March 2024 ACCOUNTINC POLICIES Ba$is of preparing ¢h¢ IIDgnclg15t9temeDts The financial stsi¢m¢nts of lh¢ charity, which is a public benefjt entity under FRS 102. have been prepared in accordance with the c.harities SORP {FRS 102) 'Accounting and Reporti by ChaTilies'. Statement of R¢wmmend¢d PractlC¢ applicable to charities preparing their accounts in accorthnce wth Financial Reporting SthThJard applicable in lh¢ UK ond R¢public of IT¢lynd IFRS 102) {effective l January 2019),, Financial R¢porting Stsdard 102 The Financial Reponing Ststsd applicable in the UK and Republic o* Irela]Ml' and the Charities Aci 2011. The financial sthiem¢nts have been prepared under tk historical ¢ost Conventiofy with the ex¢¢ption of inv¢stments which are included at market value. as tnodified by the revaluati( of certain assets. Income All InMe is recognised in ihe Statejnent of Financial ActivilTtt OT]ce the charity has eniitl¢ment to the fund& it IS PTobabl¢ ihat the income b¢ r¢¢¢ived and th¢ amount ¢an b¢ me&sured reliably. Exp¢ttdit#re Liabilities ar¢ re¢ogDis¢d expenditure as soon as th¢r¢ is a legal or c4)nstructive obligation cornmilling ihe charity to that expenditure. it is probable that a transfer of economic benefits will be required in settl¢ment 2nd the amount of the obligation can be measwtd reliably. Expenditure is accounied for on accruals basis and b been classified under headings that a8gregat¢ a]1 cost related to the category. Vlhere Costs cannot be directly attributed to particular headings tljey have been allocated io a¢tivi¢i¢s on a basis consiswlt with the us¢ of resources. Grants offered subject to eonditions which hwe not be¢n at the y(w end date are noted as a cornmttment but not accrued as expendibjre. Txxation Th¢ ¢harÈty is exempt from tsx on its charitable activities. Fynd actountiDg Unr¢stri¢ted funds Can bc used in aOrdn with th¢ charitabl¢ objectRves at the discretion of th¢ trustees. Restricted fijnds can only k used for payticular restrided purposes wiihin the objects of the ¢harity. R¢5ttidions arise when specifid by the donor or when funds are raised for particular restricted ptstposes. Further explanation of the nature #thd pury)ose of each rd is included in th¢ not¢s to the financial stst¢m¢nts. INVESTMENT INCOME 2024 2023 Dividend5 from Inve5tsnent Portfolio DesIt account interest 27,613 25,425 406 28,479 25.831 Pag¢ 7 eonlinued...
HJNDLEY AND ABRAM GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢ODtIDued for the Year EDd¢d 31 M*r¢h 1024 RAISING FUNDS IRvestmeDt managemeDt costs 2024 2023 Portfolio matjagement 5,934 5.891 TRUSTEES, REMUNEIL4TION AND BENEFITS There wer¢ no Itust¢es' Jrmunernion or othw ben¢fit5 for the y¢aT ended 31 March 2024 noT for t year ended 31 Mar¢h 2023. Trys¢¢es' eipense5 There were no trustees. expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. FIXED A&SET II¥VESTMENTS Listed investments MARKF.T VALUE At l April 2023 Additions Disposals Rtv&luations 1,040,817 616,027 1489,2971 2,528 At 31 March 2024 1,170,075 NET BOOK VALUE At 31 March 2024 1.170.075 Al 31 March 2023 1,040,817 All fixed &ss¢ts In8ents are held wthin a w)rtfolio managed by Raihbort Invesimrni Manag¢menL C05t or va]uation at 31 MaTch 2024 is repTesented by.. Listed investtnents Valuation in 2024 1.170.075 Page 8 continued...
HINDLEY AND ABRAM GRAMMAR SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued for the YeAi Endtd 31 M#reb 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditOTS 1,540 1,540 MOVEMENT IN FiIIYDS Net Transfers movement between in fulS funds At 3113124 At 114123 Unre$trfficted fumds Gen¢ral nd 162,864 145,257) (67.078) 50.529 Endowmettt fund5 Pernian¢nt ETrJownent 1.040,817 62,180 67,078 1,170,075 TOTAL FUNDS 1,203.681 16,923 1.220,604 Net mov¢ment in fiv]. included in the above are a8 followts.. Incoming r¢wurc¢s R¢source5 expended Gain5 and 105se$ Movement in funds UDrestritted futsds General fund 28,479 173,736) (45.25D Endown*nt futhd$ P¢rn)£nent Endowment 62.180 62.180 TOTAL FUNDS 28.479 173.736) 62,180 16,923 compAr&t1v for mov¢meDt in fund$ Nd movement TTansftrs bemeen funds At 3113Q3 At 114122 Unre$trl¢¢¢d General 272.627 (17,434) 192,329) 162,864 EThdowment funds Permanent ETMlowm¢nt 1,008,240 {59,752) 92J29 1.040,817 TOTAL FUNDS 1,280,867 {77.186} ,203.681 Pagt9 continued...
HINDLEY AND ABIL4M GRAMMAR SCHOOL FOUNDA TION NOTES TO THE FINANCIAL STATEMENTS- ¢oDtlnved for the Year Enthd 31 March 2024 MOVEMENTIN FUNDS-¢ontiDv¢d Comparative net movement in fimds. in¢luded in the alM)ve are as follows: Incoming r¢sourc¢s R¢sour¢e$ expended G8ins and losses Movem¢nt in fvThJs Unr¢stritted funds General fund 25,831 143,265) {17,434> EDdowment funds Pern]ent EtNJowm¢nt (59,752) {59.752} TOTAL FUNDS 25.831 143.265) 159,752) (77.186> RELATED PARTV DISCLnSURES Th¢r¢ were no related party transhclions for the year ended 31 Mar¢h 2024. Page 10
HINDLEY AND ABRAM GRAMMAR SCHOOL FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES lor the Year Ended 31 Mireb 21124 2024 2023 INCOME AND ENDOWMENTS Investrnent incorne Divid¢nds from Inv¢5¢m¢nt Portfolio Dep05il account interest 27,613 866 25,425 28,479 25,831 Tot41 iDcomiDg resources 28,479 25,831 EXPEI¥DITURE RgisiDg doD8tloDs 1cleS Sundries 89 IDve$lm¢Dt mgD•gement costs Porrfolio MageMent 5.934 5,891 Ch#rltsble Ietlvltles Grants to individuals 65,143 35,760 Sypport C0515 Martgtmellt Secretarial fee 2.000 1.044 Coi'ernanee costs A¢¢ountancy and le¥al fees 570 570 Total resources expended 73.736 43.265 Ntt expelldhmrt before gakn$ and 10sg¢8 145,257) 117,434) Relised reeoglllsed galDS 4ud lo¢9 Realis sairLs1{105sesl on fixed asset inv¢sl¥u¢nt5 59.652 $,960 Net iDtothtl(expendltMre) 14,395 (8,474) This pag¢ does noi fomi part of the statw financial statements Pag¢ll