ANNUAL REPORT AND UNAUDfFED ACCOUNTS for the year ended 31 July 2024 LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) Company limited by guardntee, company number (X1208578 Registered drity number 526714 which, wth ts connectal tharity bvew/ Educabona/ Foundabon now uses the worhng name LIVERPOOL EDUCATION GRANTS CHARITABLE TRUST
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) ANNUAL REPORT AND ACCOUNTS for the year ended 31 July 2024 CoNTEs Legal and administrative details Report of the trustees Independent Examinerfs repLXt Statement of financial activities Balan sheet io Notes to the finanaal statements 11-19
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) LEGAL AND ADMINIS[RAE DEfAILS Company limited by guarantee, company nUrnr CMJ208578 Registered charity number 526714 LIveO0/ Educauon &ants tha17taLWe Tnst s usalas thejolnt worklng name for Llverpool Counol of Educai?on (Incoryrdtedj andits assooatedtrust fund LiverpGoIEducationalFoundation Trustees David Blythe Chantelle Day Jefftey Dunn (deceased 8 (ktoLw2023) Mark Fallon Conor Foley (apwintedl tyember2023) Jeremy Gri Jennifer Holder Roger Morris OBE DL Barbara Murrdy John Prin Company secretary Roger MoThis Registered Offi 151 Dale Street Livewl Bankers Lloyds Bank plc 88 - 94 Church Street Livetyx)I LI 3HD Independent examiner Anlta C Mason BA (Hons) BFP FCA Mitthell Charfesworth Chartered Accountsnts The Plaza 100 Old Hall Street Livertm) L3 9AB
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED)
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 JULY 2024
The Trues present their report aThJ the accounts of LN&FO)I C(11 of EduGition {Incorporated)
for the year to 31 July 2024. The accounts ve ten wepar8J in accordan with the accounting
icies set out in ncrte l tr) the financlal ststements aTkl comply vlth the tharlvs memrandum ar*J
arudes of assodatlon, the Companles Act 2006 and"P£countlng and ReFKYUng by alitIeS,.
Statement of Recommerthd Practi applicabte to dritieS prepariro [r accounts in an
wlth the Flnandal Rng Standard apkllcat4e In UK Republlc of Ireland (Fqls 102)"
{effeCte i January 2019).
Structurni governance and managwnent
+ verpCl n(i1 of Educatlon Is a company Ilmlted by guarantee, regist¥ed
number 00208578. The comrA3ny ts also a r8ji$te charity, number 526714.
+ verpc¥Jl cr]I of Education was incorwratoj on 23 StyMr 1925 to act
as trustee of varfous charftsble fijnds prre a1 errnurage &Juc2tton, In partknlar by
asslstiThJ Uvwtx)ol Sch5 and their rxJFH15. cOran15 mernwdnthm ar articlÉs of
ass
LWERPOOL COUNCIL OF EDUCATION (INCORPORATED) REPORT OF THE TRusfEES conbnued FOR THE YEAR ENDED 31 JULY 2024 * Fcr many years, our tharltable aCty was made e¥dusivety through grants. Since 2022 we have retumej to an older pattem arKI akn ¢Jrrled out some dirett dwritst4e acttvty of our Thls inltialive Continu In 2023124 we Inrred wEndltsJre to support an InNJortant w0Jt, the Li¥ery)od LlteraLry Cyde, whtch we work wlth varlous parther5. • As rgX)rt in previous years. we have iw maknng nifant grants out of the arnu1at ina)me of the Hh Perctfdl s(JIarIp Trust to provi(k core fijnding for a Youth Work Apprentihip 9thane admint5tered by the L[Verp1 FC Fndatic. Our maj(Y involvemwt in mon1t0r@ and Supporti the develoFNrent of thls projett contlnu through¢)ut 2023124, As we Indkated * year, durfNJ 2023124 we al made a furlher grant £25,000 to facilitate next phase of the St. We are pkased with vthat Is being athleved both through ow grBnts aThJ tFwh crfjr irwcAvement In sUprt grwps for the + We a gradually SEeking tD make wr rde arKI better kffi. thr [W worknTrJ nam LNewl Education Grants Iaritae Tr[ has been a(knFted to give a dearer idea of what we do. We are now using new logo, and on a website and 9)ial ffdia is ptt)ceeding. Flnanclal results + The ftnandal resufts the year are ddali ed In the accounts on pages 8 to 19. The trustees are of the opinion that the overall finarxial pK)sitK)n of the Q)mpany and its asso(ia1pd tharities remain5 satsfactory. + Our balance sheet is sFw)wn on page 10. LlverExol CJ11 of Educalion Itself has unre5kn1ct nds of £335,039, togther with rthicted fijnds of £19,035 and tNst fiJnds of £676,901. The trustees, k¥)Ilcy Is to use all of tIEse fiJrKls approprfately to sUppt the work of the d)arlty. The quantum of the funds S SLffldert much effe(lve w(k to be do but we are increasingly aware that need is Increa51rwJ steadity from year to year. Investment pollcy and pthrnMnce + Wlth effect from l August 2W the of crtjr connected charltles and a major part of the nrestsicted fijnds of Counal of &ducation (Incrated) are managed as one investment pool. * The tx)lry of the trustees, in line wth the powas and dulks ¢TrtaIn6 In the govemlng Instruments and lant ststutes. 15 to expert advice in order to wive ihe inve5tmwt pool in a diversird of investments which oveTrll are intendd to balan the requlrements of achlevtThJ a SZti curratt Income and lOng-teM1 12pilal growth. Invetha)ts are rN)nitOrj wuk3dy, and IJu5tees hj a rewew meeting with the investsnent isers at least per anwm. tn 2023124 wr rtfoliO perfomiarKe was in li wlth its benchmarks and peer gmups. Volatilty arKI flucthtions in opital values are now ncal but fojnatelY our In¥thnts are d¥oyed to pr(XIu a statle level of Income. Plans for futum periods + In 2024125, the trusW are contlnulro to seek to wOmlse the chartty cOnbutIOn to SUPFX)rting in Livwp(x)l. OLW $tIng wowdmmes are continuirvJ and we are also continuing to dlscover p(entlal rKoJe(ts of dlffwit typ&s, all wlthin our fre purpo. As we strive to te ever more efftiVe, we are a19) aware tha¢ although 50rne of our origins are much cId, September 2025 11 mart the centenary of Liver7 Council of Education (Incorporat&J) becomlng a dwrltable cOmpy. We are ojrrenty pkinning how we can cdebrate that am1vry in a way Twrill stren the capaoty of OU1veS an(i our successor5 to c(¥rtinue tr) serve educatNJn in iiwKxl.
LIVERPOOL COUNaL OF EDUCATION (INCORPORATED) REPORT OF THE TRUSTEES conbnued FOR THE YEAR ENDED 31 JULY 2024 Rlsk management The trustees have rewewd the risks to whth the dwity is pJtM)s8J, iThYuding potsntial exposure to adverse investment decisi(5 aThJ also the risks as9xiatoJ th ftdu1ent awlications for help. Steps have been tsken to manage knryn rfsks. The tswtees ccUnue to assess rlsk manayement matters at kast annually. Independent examlner The comrAin5 artide5 aw(iaUon requlre the tnts tu comFty with the wulrements of the Companie5 Act 2006 and the Charitits Act 2011 in regarnl to mattws indud1 keeping reo)rd5, and aud1( or indewdent examlnation of ac£ounts. PLcordingty, tr trLLStees have akwinted Miss Anits Mason of Mltthell Chadesw(wth to att as the cDmpanVs Examiner. Small company provlaons Thls report has len prepared In acCOrdae rfth the Sal F)rOK)nS rdaung io small cfjmpanles within Part 15 of the Companies Art 2006. statement of trusteerf responslbllnles The tru5tres, who are aLs0 dirth5 for tk PurSe of compary law, are responsible ft)r preparirvJ thls report and the accwnts in acccrftsn able law arKI United Kirodom Aca)unting Stsndards (United Kingdom Genernlty Ac(ept8J AcCntirj PTrct]). cpanY law r4ulres ttR tnts to Ppare ea(h flnand)l year vthlth glve a true and fair wew of slate of alTairs of the (hirity and of the incoming re9)ur and appli(2tiI of resour, includlng the Income arKI eypeThJlttwe, of the (harltatAe comFOny that year. In prepari the a(xrxJrts tru#ees are reqUId trj + select sultable accountirKJ FKAtae5 arml then ath them corsistenty; •> observe the methots aTrJ of the Charities SORP; * make Judgements and esumates that are reasorkible pnKlent; state whethw apP1Kab UK Accounting Stdndar(k have tn followed, Subject to any material depathres disdosed arKI e¥al in the a(rwnts,' and + prepare the accounts on the going Conrn bags unkn it is inapproprfjate to presume that the charlty wlll contknue Ir) Owdtt. The trustees are r)rIble keeping adequate accoJntiTrJ reLDrds that (n>J(>se wtth reasawble accuracy at ary time the ffinaral p(St)n of chartty and enae them to eNire that acrounts compty wlth the compleS kt 20. The tnjstees a kn respC1b]e safeguardirvj the assets of the charity and hwKe for reasonable steps for the and detection of fraud and other irwularikne Roger Morrls Honorary Treagjrer on behaff of all of the tneeS 29 Aprtl 2025 Page 6
UVERPOOL COUNCIL OF EDUCATION (INCORPORATED) INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) I report to the trustee5 on my exBmlnatlon of the a¢Jwunts of Qntil of Educaljon {lnCpCrfated) for the yw dj 31 Ju]y 2024. Thls reixyt Is male soldy to ts tharws trus, as a lyx, In a¢an Sectk)n 145 of the Charfties 2011. My examination has been Underta so that I might stste to the charitys trustees th)se matter5 1 am requlred to state to them in an IndeperKlent Examiner's and for no other puryx)se. To fij[ extent pertrthited by law, I do Th)t accept or as9Jme reskKsrtslbllty to anyone than the charity and the chariws trust&s as a b, for my examlnation, ftir this repxt, or for the otinions I have fCfflj. Re4>onslbllltlu and b3s1s of report s the of the charity (and a150 its (fir5 f(Y the tx]r)Se$ ccmpJ)y law) you are responslble for the preparatk)n of COUnts In ac0)rdae vthh the reMts of t C(xnpani&£ Art 2006 (the 20 Prt). Havitvj satisfied myself that the aco)unts of the charfty are Uired to audited urKkn Part 16 of the 2006 Att and are elIgle ldeFendert examinali)n, I reF¥Jt in reSFert of my examinatK)n of the charfty's accounts as Carded (Art under sN)n 145 of the Chaiities ALI 2011 (the 2011 Act). In carrylng out my eKamlnation I have ft4[Chl DIr gfven by the Chaty Commisslon under sectton 145(5)(b) of the 2011 Independent examlnerfs statem I have cL)mFdeted my examination. l [fiM1 that rK) matt8s Iwve coN* tr) my attentlon In connection with the examinatiC giving me cause to believe: l. accounung recorts were not kept In reskw of the dkirlty as required by s&lion 386 of the 2006 A(t; or 2. the accourts do not accord with those r&ord5' 4 3. the aOunts do not comply wlth aoUnt1r rUIrerts of seclKsn 396 of the 20D6 kt other than any r4ulrement that the accounts give a tsue and fair vrert which is not a matter considera a5 part of an independent examinati(m; or 4. the accounts have not prepared in KCOrdan vlth the mthxls and prIipleS of the ststement of Recommended for accounting a1 rewrting by charities applicable IJJ chaiities ppan[J thelr a(£oMts in acCOrdae with the financhal Rqy)rting Standard applicable in the UK arKI Republlc of Irdand (FRS 102). I have no concems arbj have a(TcGs no other matters In COnCtion th the examination to whlch attentloll s)Ll be drawn In this rewrt In order to enable a pper underdIng of the accounts to to reached. Mlss Anlta C Mason &4 (Hons) BFP FCA Mitd)dl Charlesworth charte Accountsrrts The Plaza ItK) Old Hall Str&t Llverp(x)l L3 9AB ,,fvU 29 Aprbl 2025
LtVERPOOL COUNCIL OF EDUCATION (INCORPORATED) STATEMENT OF FINANCIAL AcrIvrriES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Current finand year Note Unrestrfcted Restrlctgj As tnjstee of funds funds Tcrtal funds Total nds Eduotional FndatiC 2024 2024 2024 2024 2023 INCOME FRIJI: Investments Totsl income 9,074 3J5 18,934 31,413 26,945 EXPENDITURE ON: Ralsing funds Charftable athltles Totsl exPendre 5,547 8,191 8,040 10,638 25,(M)O 20,919 56,5¥7 28,452 Net gainslO05ses) on investments 23,027 48,308 7135 (14.788) Net incorTW (expd11re) 21,463 (21,655) 46,191 (16,295) MOVEMW IN FUNDS 21,463 (21,655) 46,383 46,191 (16,295) RECONaiJATIThN OF FUNDS Total fvnds bght forward 313576 630,518 984,784 1,001,079 TOTAL FUNDS CARRIED FORWARD 335.039 19,035 676,901 1,03D,975 984,784 The statement of financial attMbe5 indudes all gains and lo rn[Sl In the year. All Income and &Kdre derive from ntinuing altle The movement in funds detsiled atK)4E comrfies wlth the requirements for a statement of changes in equlty under FRS 102. The StsEemt of flnandal acuwues aL Lxryr wth the fDr an irKome and expendire acojunt undw the Companles 2(M]6.
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) srATEMENT OF FINANCIAL AcrIvrrIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Prior financial year l+)te Unre$tritt Restrictsj As trustee of funds funds Uv&FwI Educat)al Fndation 2023 Totsl nds 2023 2013 INCOME FROM: Investments Total Inco 8,lQ3 1,931 I6,5 26,945 EXPENDITURE ON,. Ralslng funts Charitsble actNtbes Totral expenditure 2,595 5,445 12,208 16,244 28,452 Net ga11(10sse$) on investments (4.774) (10,014) {14,788) Net income/ (experKltiure) (8.873) 1,931 (953) {16,295) MOVEMENf IN FUNDS {8073) 1,931 (9,353) (16,295) RECONCtLIATION OF FUNDS Totsl fiJThJs brought forward 322,449 38,759 639,871 I,(MJi,079 TOTAL FUNDS CARFUED FORWARD 313,576 40,6¢XI 630,518 984,784 The statemert of finaThial activltles Inckhjes all galrts and low rn1 In the year. All irmme and endIture derive from (xrtinuirg The nKwement in funds detsileAI al¥ complies with the reqUiraMS for a sfatement of chang&s In equity under FRS 102. The statement of fln¥(lal acbvitie5 akn COMFI5 with the u7remerrtS an IrKome and endIture account under the Ccrfnpanies Act 20t6. Page 9
LIVERPOOL COUNaL OF EDUCATION (INCORPORATED) BALANCE SHEEf AS AT 31 JULY 2024 31 Jul 2024 31 Jul 2023 FIXED ASS5 Investments at market vaTue Investm&rt cashlloverdraft) Totsl fixed assets 948,801 883,932 939,584 876,391 CURRE ASSErs Debtors Cash at bank Total current a55ets io 30 111504 111,534 98,336 LIABILtEs.. amounts Falllng due wlthln one year NET cURREr ASSErs 91,391 108,393 ASSErs 1,030,975 984,784 THE FUNDS OF THE OKRrrY Ltrfcted funds Restricted fvnds Uverpxjl Educatlonal Fndat Total drity funits 12 335,039 19,035 313,576 40,690 14 1,030.975 984,784 cOMnY15 entitled to the exernption fr(xn the alIt rewireMrt crmtsltd in seiyion 477 of the Companies Att 21K for the year ended 31 July 2024. The trustees thowledge thelr responsibillttes for that the company keeps accountjng records which comply with sectk)n 386 of Att and for preparlry accujnts whlch glve a true and falr view of the si3te of affalrs of the (x>mpany a5 at the end of fina[la1 year and of its irming resour a appllcatjon of resour, induding rt5 Ir(0 a1 expendiknre, for the finarthl year in accordan wlth the requIents of sectlon 394 and 395 aThJ whlch olherwtse comth wllh the requIrents of the Ccrfnpanies Act 2006 relatiThJ to acrwnts, frdr as akylcaNe to the crynY. The memb5 have not requitEd the c(Kryany to cètain an alItOr its accounts for the year In qLEStlon In a¢X¢rdar section 476. The accoLYJts have en pre[hir1 in aLr(an appII(3ble to ajmpanies 5ubi tr) tl small companies reglme. The financial statements were aptxDved ty of dlra*ots and authorw Issue on 17 Aprtl 2025 and are slgned the board's be1[f ty: Roger Morrfs Trustee and Honfftry Treasurer Company reglgtratlon number 00208578 Page 10
UVERPOOL COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES arty inf0mtIon Liverpool CourKil of Edu(3tiM rs a wvate company fimited by guarantee irKrKFK)rnted In Engkind and Wales. The regied Offi 151 Dale StreeL Liverpod, L2 Z4H. 1.1 Aoy)untlNJ contk)n These tKcounts have been prepared in accordan with the thativs memornndum and artldes of assctlatlon, the Ccrfnpans Att 2006 and"P£counting and Retxirtlng by aritle5: S12tement of RecommaKl&l Prddice appli(zble to charities wewng their a(Cnts in accordan with the narla1 Standard applicable in the UK a republlc of Ireland (FRS 102" (effective l January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The accwnts are prepare(l in steding whith is the fijndional crer of the tharfty. Mcltary amounts in these fmancial statanents are rounded to the neast £. The accwnts have been epar1 Lmts the striCal (xjst convthn. m(MJtfJed to include certain financial instrumerts at falr The wnapal ac£OUnti policies adopted are set out below. The Charty has tsken advantage ( the w0vnS in the SORP for (Jwtlttes applytThJ FRS 102 Update Bulletin I not to ppare a Ststement of Cath Flows. 1.2 Going cOnn At the tlme of approvlng the nts, the trllstees twe a reas(Mk8ble expectstion that the tharity has lvate revr to aJniinLE in 0tional existen for the foreseeabk future. tn making ttNS as5essnent the trustees have considered the Ilkety impact of all frdCto of ld) tty are currenty aware. The trustees therefore continue to adopt the golng basts of accourtlNJ In preparfng tre accounts. 1,3 chanTrae funds The nature arKI wrwjse of the fund5 maintaiwl are detailed in 12 1D 14. 1.4 Income Income frcyn equSty Invesiments L% xcounted for I1¥. Inoyne from other sources is indth in the Ststement of Fmandal Acbvlues on the bas of the amunts reVable for the year. 1.5 ExperKliiure Expenditure 15 iluded in the Aatement of nancIal Actmties on the aC£nlS basis, based on the a)Unts payab for WO th)ne and grants offered in the year. Charltable attknues cS[st of grdnt-Mang afj assoaated sUppt costs, If ary. IndeFendent e¥aminerfs fees aNI irKIdl managfftnt expenses are IndUd in gOVunan co*5. InVeStr manw%rrent cc&s are alkoted pm rats to the srze of the Sha in the pwl at the balan Sh date. Page li
LIVERPOOL COUNCIL OF EDUCAIION (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 contsnued 1.6 asset InVts 1rNesthts are Induded In the balan Sheet at ltslr market value at the year end dat Realised gain5 arKI k)w a cakntated as differeno btheen dtsFosal ¥ed$ and purchase tst. Unreallsed gains and Ic6ses are calculatoj as the residual nment In Ma value the 1r. 1.7 Irnpalnt of fixed a55 At eath rep eThJ dats, tr chaty reVIe the catrytry wnounts of ts flxed tsnglble assets ts) (ktsrmlne whthr tFve is any Indlcaljon th those assets have suffered an impaimient loss. If any ilIcati eYi, the rethverable amount of the asset is estimatej in Ord to detumine extent of Impalm lo (rf any). 1.8 Cash aNI cath eqUIdIts Cash and cash equwaknts IrUde cash in haThJ, deposits held at caH with banks, other sh)rt-term liquid investments with original matuiities of three mcths ¢x les5, and bank overdrafts, 1.9 Finandal Ir&Juments The chadty has elted to apply the pmlslrS of Sn Il'BaC nancIal 1Tr5trumerts' and Sedion 12.ottw FinaThl Ir&nJments Lwes, of FRS 102 to all of lis finanaal Instruments. Finanaal instruments are recDJiwsoJ in dris balae sheet wthen the char becomes kwty to the cortrrftual kyovbbns of the InstrumenL Finandal assets and liabilitle5 a ow with the net amounts presented in the flnamial ststements, %¥hen there is a legalty fOrble rfght to set off the reccgntsed amounts and there is an intentk)n trJ settle on a net bags or to realise asset and settle the liability siMun&. Baslc finarKial assets, whlch IndLKle ddknrs and tssh aThJ bank balan, are Intttally measnjred at trdnsattion piice irKJuding transactK)n (tyts are subsequenuy tsrrled at amortlsgj cost uslng the effe¢Jive irterest methxl unless the arrangement corBdtutes a finan(ing trarLCt)n, wtre the transaction Is meagJr8J at the present value of the fvt rewpts dixwnted at a market rate of irterest. Finandal assets classffied as recdvabk wlthln cr£ year are nct amorts. Bask finalal lIalItIes, IndL*dlng aThJ bank loans are Inltlalty reoJ)gnised at trdrsartion Pri unless the arrangnt (, where the debt irnstrument is measured at the wet of the ftthre r discounted at a market rate of interest nanCIal liatm'lities dassifd as payable within one year are Thit wnortlsed. Page 12
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 JULY 2024 contsnued 1.9 nancial instruments (c0ntirnd) Trnde creditors are oblbjatiors to pay for or SeThi that have tEen acqulr8J In the ordlnary course of okvatkms from suppllers. Amounts payalye are dassSfied as current 1labll1es IF payment L4 due wlihln year LY less. If they are presentg as non-current liabilitres. Trade credttrKs are rn11 initialty at trdnsaci¥)n pri and subs0]utty nwsured at amortlsed u4ng dfedlve Int method. Derecvgrriiifjn offinanciliatsfrtie narKial liatlItIeS are derecognisd when the thartws C(rtractual obllgatkjns explre or are dischaw Ca11. 1,10 (IL4odbn tnLSt The fund Is dlsTlosed separatety as It Es repsed by Ilsted Investments dassed In one single po. The o7pital of tr nted tharity and a major part of the unrestrict1 fun(ts of Liverwd crlI cl Edu¢2tKJn anc) are managed as i)ne Investrnent J4 whlth wa5 creat&J C l 2(MM. 1.11 Company status trxr The c(ryany is limited iry gUarantr arKI ha5 stwe pits1. nEmLEr undertakes to contribute to the assets the o)mpany a sum not exce&JirvJ £1 In the event of winding up. As a reglstered thaTity the Company tErrftts from varicus exemptions frcth tsxation afforded by tax kgislatsn and is not liabk to ojryThtic Lix on income or gains fallir wh1n those exemplons. The Company ts n¢X VAT rISte. ExFendEbJrE Is recordg In accounts Ind of VAT. 2 Crftiol accounting estimates and judgements In the application c( the driS rLcounliTrJ pdici, the tnJstee5 are Uired to make judgements, elmates and assumFthns the cawng anUnt of assets and Ilabllltles that we rw)t readlly apparent from otlw urs. The estimates and assockted assumptlons are based on historical Welen Oth fats5 that are Csider1 to be reknnt. Aiknl results may differ from these estimates. The esumates and Unlkrfng aswiptbns are rev1 C basls. Revlslons to acccKtnllng esumates are reC(yJnI In In whld) the esfimate Is revtsed where t revison affects only that wiod, or in the of the revtsion and future wiods thre the reSlan affeds bh rt and ftfture 110. There are ¢Jfttcal aco)untry estlmates or judgema)ts in the unts. Page 13
LIVERPOOL COUNaL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL sfATEMENTS contsnued FOR THE YEAR ENDED 31 JULY 2024 3 INVESTMENTS Totsl 2024 Total 2023 furnls fvnds Educational Fourxjation Income from Investments Bank and on call Interest 8.882 192 9,074 1950 395 3345 18,635 359 18,994 30,467 26,648 297 26,945 31,413 For the Year8nd31 July2023.' As trustee of Unrestrlrt Reslited Total fijnds fijnds Eckjotional 2023 FourKlatKsn Income from inve5tsnents Bank dewjsit and trry on call interest 8,015 I19 112 1,931 16,814 91 16,905 26,648 297 26,945 8,109 RAISING RJNDS 2024 2024 2024 Unrestrictad RestrKted As tnjstee of funds 2024 Tcial 2023 Tclal EdtKatKThI tnvestsnent management fees 5,547 8,191 5,547 8,191 For the yearend&131 July2023.' Investrnent 2,595 management 5,445 2,595 5,445 Page 14
LIVERP(X)L COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL sfATEMENTS conbnued FOR THE YEAR ENDED 31 JULY 2024 CHARrrABLE EXPENDITURE GTrnt (knnt aThl Totsl Totsl IJIRr dl ExFenditsJ lat1 SupkKJrt 2024 2023 Grant ftrKJing thitk5 (note 6) Direct charibble (nrte 6) Share of governare o)&s (note 7) 36,980 8,497 9,670 8,629 8.497 45,477 289 20,412 Analysls by fund Unrestricted fuThJs Restiicted fiJnd5 As trwstee of conneited char5ties 5,105 9,613 15 72 45,477 289 48,336 20,412 Foru yearended31 Juty2023 ()-ant funding actMtTes (note 6) Direct charitable actmties (note 6) sho of governan co*s (note 7) 9,670 8,629 9,670 8,629 Analysls by fvnd UnrestrICL funds Restiirted funds s trustee of nnected charfljes 2,113 9,613 Paqe 15
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL sfATEMENTS contsnua FOR THE YEAR ENDED 31 JULY 2024 CHABLE EXPENDtTURE 2[124 2023 GRAs MADE: Unrestricted furKls: Totsl grants from unr&tii(tal funds Re#rthd funds: Totsl grart5 from rewtsl fund5 verpchjl EdKational FOundatic. Jw Hbjh SchM)I Axthbishop PAanth Caklerones ildwall Sp)rts & sden knd Everton Fr SdKJl Gatea¢ s01 Holly Lodge Girlg CcAlege Internatnal Modd Eurokwn Parliament UK LIPA Primary FfwJh SCFKK New Heights sch Sandffdd Park Sctrx)I Total of wize grants paRI to indNiduals 3,0110 1,000 1,500 2,000 1,5 2,OLX) lB0 1,800 1,5(NJ 1,970 1,8(Kl 8tN) Total grants DIREcf ARITABLE AcrrvrriES Unrestricted fvnd5: Support for LiverkKoI Litew Cyde Total from unrestrthd fiJnd5 LNryoI Educational Foundatlon: iaNJs & Quets Esw CompetstKxi Total from conneitsl d)arities Totsl dlrect chartkble aLlivitE5 I grants were made for the athanMtt eduotion. There re no drgeable supwt costs. TIR trLLStees receNed Tr) ranuneration or rwmbursement of expenses from the company (2023 Enil). GOVERNANCE cosrs 2024 2013 Basfis of atlo(3Uon Independent examlnerfs fee Legal and rejulatory fees Webslte costs I96 Ic(ated to grant MaThJ atIeS ELated to grart maluThJ actiwties ILKated tn grant maklng aCt[tS 13 120 959 1113 lysed betsyeen IarItable adie5 1113 Page 16
LtVERPOOL COUNaL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL srATEMEr[S contsnued FOR THE YEAR ENDED 31 JULY 2024 FINANCIAL INsfRUMEWS 2024 2023 Carrylng amount of financial assets Debt instruments Mea9jr at c(k8t Equity Irthmerts measured at frdlr value through Income and expenditure 89,119 103,993 Carryln9 amwrt of finan(lal Ilabllltlos Measwed at amc#ti5ed cost 6,945 3,141 FIXED ASSET INVEsfMENTS 2024 2023 Composte inve51rnents.' Market dIue at l ALhJUSt 2023 DtspDsais Addltlons at cost aluation adjustments: HLsEoric gains1(10sses) on distKwls Other changes in mark& value Market value at 31 ju 2024 883,932 (171,097) 164,630 905,111 (114,515) 108,125 39,682 35,517 oi Hi5trKlc at 31 2024 74 769 The catal of the connectsj rtrIt5 and a majcf part of unre5trKtd ftJThJs of LiVeicI Counol of Eduotkn Unc) are man&Jed as one irNeYJTt whKh was createj c l August 2(NM aNI a5 at 31 Juty cons*ed of.. 2024 2023 InVeStff at market value a5 above Inve5bnent (A Trtal value of p 948,801 883,932 541 876 91 10 DEBTORS 2024 2023 Due wlttmn one year. Actr1 Inc(xne 30 Page 17
UVERPOOL COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL STATEMEPffS ctttnUa FOR THE YEAR ENDED 31 JULY 2024 I I LIABILrnES: Pmounts falling due within e year 2024 2023 AMnts frdlling due within OFE year. Acauats and defeed IKome 3.141 12 UNREsriucrED FUND5 2024 2023 Balan at l Aug 2023 Net exlIre for year Realised gains/(kJsses) on Unreallsed galns/(low) on In¥&nt revaluation 313,576 (1,564) 12,809 322,449 (4,099) 11,465 10,218 (16,239) Balan at 31 Juty 2024 335 039 TFE unrestslcted fu15 are the acoJmLdateJJ suuS of the company to be us& for Its charfiable obJeds. 13 RE5fRID FUNDS 2024 2023 Balan at l Awjust 2023 Net (expense)/lncome for year Balance at 31 July 2024 40,690 38,759 At l Awust 2023 at 31 ju 2024 rertcted fvThJs [1Sted sotely of Incc4ne transferred lrto the t$teip of ver[l Council of EdLKaUon for dI#rttyJ0n under the tem)s of the Hughes Perciwdl wtll TnAst. Al tranctIo durfNJ the year relat1 to the Hhe5 l>er(ival Will Tru. 14 FUNDS OF LIVERPOOL EDUCATIONAL FOUNDATION 2024 2023 BalarKe at l August 2023 Net income/(exndItUre year) Realised gainsl(losses) on InVeStn Unreallsed galnsloosses) on investment revalualion BalarKe at 31 July 2024 630,518 {1,915) 26.872 639,871 661 24,054 630 518 Followlng a consoll(L3tion which twk pl In the yw to 31 July 2017, the sole a)n and subsidiary charity in the year to 31 Juty 2024 vffi LNerFxJd Educational FouThJation, a charity whose corporate trustee is LiverFcoI Cwnal of EdatiOn whose fuTrJs IlUde some pemianent endowment. The assets of Liverpwl E(kKational FoLdatn can be anatysed as fotkJws: P49ge 18
LIVERPOOL COUNCIL OF EDUCATION (INCORPORATED) NOTES TO THE FINANCIAL sfATEMENTS cc¥7tinued FOR THE YEAR ENDED 31 JULY 2024 2024 2023 ithresirfct&l Revenue FuThJs: Permanent Endowmenl jnd5. EXpdable Endowment rThts: Tal 41,460 H9,547 37,838 419,295 15 ANALYSIS OF ASSEfs BEEN FUNDS Totsl charities Fu¥KI bal4n at 31 July 2024 re representsl . Share of 5nvestment tKMIl Net current assets Total net assds 303,298 636,286 939,584 1030 975 For the Yad31 Jutr2023." Connected charities tharibes JNI at 31 July 2023 are representd lry: Share of investment p1 Net oJrTert assets Total net assets 282,899 593,492 676.391 108 393 313 576 16 RELATED PARTY TRANSAcfIoNS B&ause of the nathre of its obilives, Ver)I Cwndl of Educatk)n has trustees who In I1r VariOU5 Other capactbes are invoW wlth education in iiverEWI. Barbara Murray and hn Prfe are trth dect&l menth of Liverpc(sl aty Council. Davld he, Barbara Murray and Cw F(ty are sctwxsl pvemr& Jennifw Holderfs prinapal employment is with the LeamitvJ Pdrtnwsh1. Other slmilar IxJnnectk)ns may ocojr from tlme to lJme. Twstees of liverpool Q>wKiI of Edu(atton do txirudpate In dedskjns In whlch confftcts of irtterest be [red. Liverrwl aty c(wrKiI. in line wth Its statutory 6ducatk)nal respongbilities, has a ritht C(MJnal of Education's Artide5 of As5WatK)n tr) mlnate two F to serve as trustees of LN&F(d Counal of Educatlon but that wer was tyjt In watlon In 2023124. For the purpjses of the arty SORP, tswe were no specific related party trdnsthins identifi&l in the year to 31 JU 2024. Page 19