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2024-12-31-accounts

Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY REGISTERED NO: 526764

Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

CONTENTS

Page(s)
TRUSTEES' ANNUAL REPORT 1-3
STATEMENT OF FINANCIAL ACTIVITIES 4
BALANCE SHEET 5
NOTES TO THE ACCOUNTS 6-10
INDEPENDENT EXAMINER'S REPORT 11

Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

TRUSTEES AND ADVISORS

TRUSTEES:

Chair Clare Lomax Mrs Judith Berry (Co-opted/School Governor) 12.07.2023 Mr John Burns (Co-opted Chair of the School Governors) 12.07.2023 Professor Christine Dickinson (Appointed by the University of Manchester) 12.07.2023 Mr Paul Dyson (Co-opted/former Director of the 6th form) 12.07.2023 Councillor John Walsh, OBE (Appointed by the local Borough Council) 12.07.2023 Mr Geoff Whalley (Co-opted) 12.07.2023 Simon Li 17.03.2021 David Cartwright 17.03.2021 Ian Tomkin 07.07.2021 Sam Calvert 29.06.2022 Stephen Paul Barber 06.03.2024 BANKERS: Lloyds Business Online banking INDEPENDENT EXAMINER: Cowgills Limtied Fourth Floor Unit 5B, The Parklands Bolton BL6 4SD PRINCIPAL OFFICE: Canon Slade School Bradshaw Brow Bolton BL2 3BP CHARITY NUMBER: 526764

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

TRUSTEES' ANNUAL REPORT

The Trustees present their Report and the Financial Statements for the year ended 31 December 2024.

Structure, Governance and Management

The Charity is governed by its Trust Deed, sealed 3 August 1992, (incorporating the Charity called the Bolton Church of England Educational Institution, otherwise known as Canon Slade School, and the Charity known as the Edith Fallows Fund), and Scheme (Modification) Order 1993.

New Trustees are appointed by the board of trustees as and when necessary.

Risk Review

The trustees consider at their meetings any particular business or operational risks which the charity faces. Financial reports are received at each meeting which assist the trustees in monitoring the position and they have not identified any major strategic business or operational risk during the year.

Objectives and Activities

To provide for the school such special benefits of any kind as may from time to time be agreed between the Managing Trustees and the governors of the school and being benefits of a kind not normally provided from annual maintenance grant. Or otherwise promote the education (including social and physical training and instruction consistent with the doctrines of the Church of England) of pupils and former pupils of the school who are under the age of 25 years and in need of assistance. Funds are made available to the school at regular intervals. Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect their aims and provide public benefit. The trustees are more than satisfied that they do.

Achievements and Performance

Funding for a year 7 author’s visit, and books for year 7 pupils was provided to the school. The nets in the sports hall were also replaced. A contribution to the general upkeep of the facilities, including tree maintenance in the school grounds. Income was impacted by the discovery of RAAC concrete on the school site which affected hiring access and revenues.

Reserves Policy

The trustees consider that, whilst the current level of reserves stands at a reasonable level, the funding requests likely to come from the school over the next few years means that the charity must continue to adopt a cautious policy in relation to its activities.

Investment policy

The trustees have the power to invest in such stocks, shares, investments and property as they see fit. The trustees have engaged Seven Investment Management to manage the investments of the charity and the policy is to adopt a cautious risk investment strategy based on maximising income. However after further investigation the Trust has decided to review the partnership due to poor historical results, and lack of active investment. A search for a new financial advisor was undertaken, and Chancellor were selected.

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

TRUSTEES' ANNUAL REPORT

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for the period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and enable them to ascertain its financial position and to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 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.

Taxation Status

Canon Slade Trust is a registered charity (No 526764). As a registered charity, it is exempt from corporation tax in accordance with the provisions of the Income and Corporation Taxes Act 1988.

On behalf of the board:

Dated: 13/11/2025 | 8:21 AM GMT

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income
Grants,donations and legacies
2a
Charitable activities
Other trading activities
Investments
Other income
Total income
Expenditure
Charitable activities
3
Total expenditure
Net income/(expenditure)
Net gains/(losses) on investments
Unrealised gains/(losses) on
investment assets
7
Net movement in funds
Total funds brought forward
Total funds carried forward		 Restricted
Unrestricted
2024
2023
Funds
Funds
£
£
£
£
243
-
243
210
-
85,505
85,505
78,840
-
-
-
-
-
6,134
6,134
7,030
-
10,584
10,584
-
243
102,223
102,466
86,080
-
108,974
108,974
39,374
-
108,974
108,974
39,374
243
(6,751)
(6,508)
46,707
195
-
195
5,812
438
(6,751)
(6,313)
52,519
279,565
171,037
450,602
398,083
280,003
164,286
444,289
450,602

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure is derived from continuing activities.

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

BALANCE SHEET

AT 31 DECEMBER 2024

Note
FIXED ASSETS
Investments
4
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
CURRENT LIABILITIES
Amounts falling due within one year
6
NET CURRENT ASSETS
Represented by:
Restricted funds
7
General funds
TOTAL FUNDS		 2024
194,614
194,614
-
254,325
254,325
4,650
249,675
444,289
280,003
164,286
444,289		 2023
194,420
194,420
-
258,570
258,570
2,388
256,182
450,602
279,565
171,037
450,602

13/11/2025 | 8:21 AM GMT

Approved by the Board of Trustees on ……………………………. and signed on its behalf by:

Trustee

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Charity information

Canon Slade Trust is a charity established under a trust deed. The registered office is Canon Slade School, Bradshaw Brow, Bolton, Bl2 3BP.

Accounting convention

The accounts have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016).

The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest

The accounts are prepared under the historical cost convention as modified by the revaluation of fixed asset investments.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Incoming Resources

Income is accounted for in the period in which the charity is entitled to receipt.

Expenditure and liabilities

All expenditure is accounted for on an accruals basis.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services of its beneficiaries

Fund accounting

General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are funds subject to specific restriction imposed by donors, or by the purpose of the appeal in which the funds are raised.

Financial instruments

The charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the cpmtractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability liability simultaneously.

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES (continued)

Financial instruments (continued)

Basic financial assets

Basic financial asset, which include cash and bank balances, are measured at transaction price.

Other financial assets

Financial assets classified as other financial assets are stated at fair value with any gains or losses arising on remeasurement recognised in the statement of financial activities.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. and rewards of ownership are retained but control of

Basic financial liabilities

Basic financial liabilities, which include other creditors, are recognised at transaction price.

Fixed Asset Investments

In accordance with recommended practice, listed investments are stated at their market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations.

2. INCOME

2a.
Income from grants,donations and legacies
Donations and gifts
Grants		 Restricted
Unrestricted
2024
2023
£
£
£
£
243
243
210
-
-
-
-
243
-
243
210

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EXPENDITURE

3 Expenditure on charitable activities

Expenditure on charitable activities
Development appeal allocations:
Other
Charges
Sundry Items
Premises costs
Accountancy
Subscriptions		 Restricted
Unrestricted
2024
2023
£
£
£
£
-
-
-
202
-
1,225
1,225
3,031
-
170
170
26
-
105,282
105,282
33,800
-
2,262
2,262
2,280
-
35
35
35
-
108,974
108,974
39,374

4. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Quoted investments (see schedule - page 12)
Market value 1 January 2024
Net unrealised investment (losses)/gains
Realised investment (losses)/gains
Funds transferred for charitable purposes
Market value 31 December 2024
Historical cost at 31 December 2024		 2024
2023
£
£
194,420
188,608
195
5,812
-
-
-
-
194,615
194,420
197,587
200,071

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5. COVENANTS RECEIVABLE

There were amounts due from covenants amounting to approximately £151,894 at 31 December 2024 and approximately £151,894 at 31 December 2023.

6.
CURRENT LIABILITIES
Amounts falling due within one year
Accruals
Trade Creditors		 2024
2023
£
£
2,382
2,388
2,268
-
4,650
2,388

7. RESTRICTED FUNDS Movements in the year:

RESTRICTED FUNDS
Movements in the year:
Permanent endowment
General prize fund
Endowment fund
Mitchell award
G Fairclough fund
Sports hall appeal
Astro Fund		 Balance
Incoming
Unrealised
Realised
Outgoing
Balance
01/01/2024
31/12/2024
405
274
679
(13,990)
472
(13,518)
219,380
(279)
219,101
2,500
(272)
2,228
42,122
243
42,365
7,005
7,005
22,143
22,143
Gain/(Loss) on Investments
279,565
243
195
-
-
280,003

The Sports hall appeal was established in 1986 by donations from parents and friends of the school. The conditions of the donations stipulated that both income and capital be used for the erection of the Sports Hall.

The income from the Permanent endowment is not restricted and is transferred to general funds at the year end.

"The Rev J N Mitchell, MA, BD Award" was a legacy bequeathed to the school by the will of Marie Mitchell, deceased, to be invested and the interest used at the discretion of the Head Teacher and Governors for any needy pupil (preferably going to university).

The G Fairclough fund is specifically for "6th Form students at Canon Slade going to University to study medicine".

The Astro Fund is from two donations where the money has gone towards the refurbishment of the Astro in 2019 and to go towards the ongoing costs relating to its maintenance and usage.

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

CANON SLADE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8. INVESTMENTS Date of Transfer of Cost Market value
purchase Shares 31.12.24 31.12.23
Permanent Endowment
COIF Income Shares 89 Nov-86 350 1,806 1,766
Special Range Share Endowment
7IM Income Fund 19,882 18,865 - 18,365
Transfer of 7IM shares to new account Jun-24 (19,882) (18,865)
7IM Mod Cautious Fund 15,616 Jun-24 21,028 18,599 -
Endowment Fund
7IM Income Fund Oct-07 131,094 142,685 - 121,092
7IM Income Fund Jan-09 21,717 19,911 - 20,060
7IM Income Fund Sep-09 8,574 8,135 - 7,920
Transfer of 7IM shares to new account Jun-24 (161,385) (170,731)
7IM Mod Cautious Fund 124,931 Jun-24 168,225 148,792 -
RBS Deposit 1,488 1,488 1,488
RBS Deposit 172 172 172
Rev J N Mitchell Award
7IM Income Fund Oct-07 2,125 2,313 - 1,963
Transfer of 7IM shares to new account Jun-24 (2,125) (2,313)
7IM Mod Cautious Fund 1,420 Jun-24 1,912 1,691 -
RBS Deposit 25 25 25
General Prize Fund
COIF Income Shares 914 1982/98 2,827 18,552 18,142
Walker Fund
M&G Charifund 60 Jul-05 785 884 861
COIF Deposit Fund 775 800 800
Edith Fallows Fund
COIF Investment Fund 53 - 1,068 1,044
COIF Investment Fund 36 - 738 722
197,587 194,615 194,420

1 The original donations came from a number of bequests including F L Bellis Legacy, W Tyson-Price Legacy E C Wood Bequest, T H 2 The Rev J N Mitchell MA BD Award.

3 General Prize Fund - The original donations came from a number of sources including Frank Slater Memorial, Kenneth Whiteside

4 The original funds arose in July 1996 from M Crook and Development Appeals.

9. TRUSTEES AND CONNECTED PERSONS

No trustee received remuneration from the charity in the year or received the reimbursement of expenses.

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Docusign Envelope ID: D7BD3575-C665-43D6-B798-DD22F5298419

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE CANON SLADE TRUST

I report to the trustees on my examination of the accounts of the Canon Slade Trust for the year ended 31 December 2024 which are set out on pages 4 to 10.

This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement.

Independent examiner's statement

During the year we were made aware that the charity were unable to access certain bank account statements as the bank were unwilling to provide the information. The trustees have confirmed that they are satisfied that the balance reflected in the accounts are accurate to what is held in the bank accounts.

I confirm that no matters other than the above have come to my attention in connection with the examination giving cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I confirm that there are no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mrs N Roby FCA FCCA Chartered Accountant of Cowgills Limited Fourth Floor Unit 5B, The Parklands Bolton Dated: 13/11/2025 | 12:23 AM PST BL6 4SD

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