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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 527178

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

ANTHONY GELL SCHOOL FOUNDATION

Mills & Black Derwent House 141-145 Dale Road

Matlock Derbyshire DE4 3LU

ANTHONY GELL SCHOOL FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

Page
Report of the Trustees 1 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 to 19
Detailed Statement of Financial Activities 20

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTS OF THE CHARITY, PRINCIPAL ACTIVITIES AND ORGANISATION OF OUR WORK

The objectives of the Charity, which form the basis of our allocations of expendable funds, are:

1). The provision of items, services and facilities at Anthony Gell School.

2). The promotion of the education of persons who are in need of financial assistance in the following order of priority:

a) persons who are attending the school;

c) persons under the age of 25 resident in the Parish of Wirksworth, and the surrounding villages.

The Charity has continued to carry out activities in pursuit of the above objectives and the achievements and performance during the year are detailed below. It is important to note that our help to school is for additionality in education provision and services, not for core funding.

OBJECTIVES AND ACTIVITIES OBJECTIVES FOR THE YEAR

The ongoing objectives for the Foundation year-on-year are to continue to support the School and those related to it in accordance with the overall objectives stated above. This is principally carried out through the making of grants to meet specific requests which add value to the education and wellbeing of the students directly or indirectly.

In order to have the available funds to provide the above, the Trustees seek to work within an approved budget, and to :

Page 1

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

ACHIEVEMENT AND PERFORMANCE

Core activities

The Foundation has continued to support the School, its students and ex-students through a programme of small grants as requested by the School and approved by the Foundation's meetings. These grants are for additionality in education provision and services, not for core funding. In the current year a provision was made for up to £14,000 to be made available for this purpose. Grants totalling £8,874 were made which fall into four main categories:

The trustees agreed that no unspent money would be carried forward for approved items in the coming year.

Through the generosity of our supporters, the Foundation currently holds five funds which are restricted to specific areas of work under the terms of their donation. These are:

o Special Needs & Accessibility : £762 (originally £1,300)

o Art Equipment bursary : £150

o Archives : £1,255

o Outdoor education and sport : £1,100 (originally £1,600)

o Sports Hall Floor : Surplus funds raised towards the renovation of the Sports Hall floor are held to fund further improvements/access ories relating to the Sports Hall floor. In the year a payment was made of £966 to install barrier matting at the entr ance. The remaining balance is £829.

Artificial Turf Pitches

The Foundation donated £70,000 towards the overall cost of £240,000 for the major all-weather full-sized floodlit sports pitch which opened in September 2001 following the school's achievement of Sports College status. Additionally, there are a 5-a-side pitch and changing rooms which were completed in 2005 at a total cost of £470,000. During the course of the year 2017-18, DDDC invited tenders from other parties to manage the Leisure Centre and Pitches with effect from the summer 2018. The contract was awarded to Freedom Leisure Ltd (FLL) for an initial 10-year period to 2028. The pitch rental income is collected by Freedom Leisure Ltd, who handle the bookings from the Leisure Centre, and this is handed on to the Foundation regularly. The receipts are treated as income held by the Foundation designated principally to address the maintenance and eventual surface renewal of the pitches. The receipts in this year totalled £22,400 (2019-20, £42,742), the significant reduction reflects the impact that Covid has had. Usage of the artificial turf pitches is estimated to have been over 32,000 in the year year to 31 March 2020, which demonstrates the continuing opportunity they provide for the public as well as the School for exercise, health, well-being and enjoyment.

Environmental and Landscape Improvements

Works continued through the year to maintain the environment, especially perimeter areas owned by the Foundation. This included maintenance of areas of grass and shrubs/trees as well as planting around the car parks and pitches. We continue to use a local contractor, whose services were reviewed, under a tendering process, and renewed for a further 3 years in 2019.

The trustees are aware that there have been occurrences of Japanese Knotweed on Foundation land. This is a vigorous invasive plant species which is hard to eradicate. The Foundation - in its programme of control and eradication - is continuing to seek to follow the prevailing best-practice as a custodian of the environment and the people who interact with it, and will review this approach annually.

Page 2

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021

ACHIEVEMENT AND PERFORMANCE

Swimming Pool

A local charitable trust was established to run the Pool and take over the management from Derbyshire Dales District Council. The Foundation is Landlord and the Trust was assigned the lease by the Council from April 2012. The lease runs until 2079 and the Trust has received on-going support from Wirksworth Town Council.

The Community Sport and Leisure Centre

The Leisure Centre was opened in January 2000 at a cost of £1.3 million of which £11,000 was contributed from the Foundation particularly relating to benefits to School. The Foundation subsequently contributed £5,324 towards an Emergency Access Road and £5,094 towards renewal of the main floor. In 2018-19, the Foundation contributed £18,450, with the Gell Friends contributing a further £2,000 towards the cost of resurfacing the Sports Hall Floor. The total cost of the work was £67,616. DDDC and DCC contributed towards this and further funds were secured through the application for grants to various bodies.

The Leisure Centre continues to be of great benefit and popularity for the School and the wider community with the old School Gym being part of the facilities offered. The Foundation granted a long lease to DDDC in 1999 until 2079. The rent is subject to review at 5 yearly intervals (the next review being in 2023) in line with the retail price index. The Foundation received £13,533 in the current year.

The District Council engaged consultants to advise them on options for the future management of its Leisure Service at 4 centres across the County of which this is one. This issue is also referred to in the section on Artificial Turf Pitches. In December 2016 DDDC decided to contract out their Leisure Services to a managing agent by Summer 2018. The Foundation had meetings with DDDC, and Derbyshire County Council for the School, about the appropriate legal agreements and a lease variation. Additionally these meetings sought to ensure that effective integration of other sports facilities at the Hub on the same site is maintained, and that appropriate arrangements and hire rates would be ensured under new management for the hiring of the Pitches. As reported, the new management structure, under Freedom Leisure Ltd came into effect on 1st August 2018.

Unadopted section of Canterbury Terrace

The Foundation is the registered owner of the roadway at the south east end of Canterbury Terrace in Wirksworth. The Trustees realise that, whilst the ownership of this land has no direct beneficial purpose to the charity, it is not currently a priority to seek to transfer ownership to any other party or parties.

The Trustees have put in place measures to maintain the roadway to an acceptable standard and have also installed signage to encourage members of the public to use the public footpath rather than walking on the roadway. In all of this, the Trustees will continue to establish and maintain good levels of communication with the adjoining 6 householders, with DCC and with Severn Trent Water (STW), as stakeholders.

Gift Aid

The Foundation is able to recover income tax on donations made under the HMRC Gift Aid scheme. This is handled by the Gell Friends who have identified £606 as recoverable against the current year's donations.

Page 3

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

ACHIEVEMENT AND PERFORMANCE

Governance

At the Annual General Meeting, on 15th June 2020 the following changes were made to the membership of the Foundation. Simon Hobbs stood down as Chair of the Foundation and was replaced by Cathy Cooke. Simon Hobbs and Nick Hodgson were both re-elected for a further 4-year period as trustees. Chris Thompson had indicated his wish to stand down as a Trustee and the meeting agreed to this with regret and thanks. The Foundation received the subsequent news of Chris Thompson with great sadness. Lee Shakespeare was appointed Trustee on November 2020, formally taking up the post at the Foundation's meeting on 11th January 2021.

FUTURE PLANS

Additional future plans are:

Ethical Investment Policy and Approach

The Foundation reviewed previous investment and ethical policies in 2014 to identify issues by which investors might discriminate in making investments, including social and environmental as well as ethical in the pure sense of the word.

Charity Commission advice was that the interests of a charity's beneficiaries are, in general, best served by the trustees seeking to obtain the best financial return from its investments. Investments must be centred on the interests of the charity and not of the trustees. Thus, Charities should decline to invest in a particular company if it carries out activities which are directly contrary to the charity's purpose - e.g. cancer charity not investing in tobacco companies.

The main reasons for adopting a policy for Responsible Investment include:

In the case of the Foundation, this is important as we relate to education and the interests of students at Anthony Gell School. Since the Foundation's beneficiaries are mainly children who attend the School, this means all students have an interest in our investment policy, both in financial and ethical aspects, as do parents and donors.

The Foundation decided to have a clear, simple but flexible approach on the following lines: We concluded that we should

Page 4

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

ACHIEVEMENT AND PERFORMANCE

Investment Strategy

Taking this policy forward into practice, our Financial Adviser reviewed our investments and needs in January 2015 and presented a detailed Review of Investment Strategy which was fully discussed and approved. Our long term strategy is a combination of equities and fixed interest funds invested in order to reduce the overall risk. Investment portfolios should be International (not just British companies with overseas interest) particularly in the US. We should not need constantly to 'fine tune' the actual investments. Our Adviser suggested that the broad allocations of investment should be as outlined in the Strategy, but with the authority of Chairman and Vice Chairman to modify it where they thought it necessary. Investments should either be with one major manager or a number of small managers. This is to ensure long term security and fraud prevention. Whilst the risk is relatively low, it does exist especially with the smaller managed funds. As returns at present are low it is important that fund charges are low.

Our Adviser's recommendations were accepted to invest in Epworth Affirmative Corporate Bonds Fund as the fixed interest fund and the COIF Charities Ethical Fund in order to provide diversity.

Trustees queried if the Foundation was bound to use the income of the letting of the pitches for future surface replacements. Legal Advice is that it was not locked into this. Our Financial Adviser explained that in effect, the fund could be deemed to be hypothecated as there is at least an expectation in the community that pitch hire money will be used in this way. It has been agreed that revenue from pitch hire should be monitored and, if there are any excess funds, these could be used elsewhere or added to investments.

The overall recommendation was to have 2 Equity funds one with Epworth and one with COIF and one fixed interest investment fund, also with Epworth. This was previously acted upon with £70,000 invested in the COIF Ethical Fund in March 2015 and £70,000 being transferred from the Epworth Affirmative Equity Fund to the Epworth Corporate Bond Fund for charities in April 2015. The fixed interest could start lower than 30% with pitch hire money being added from the letting of the pitches. We transferred a further available £50,000 from cash to the COIF investment after a review report by our Financial Adviser in January 2016 since all capital projects to that date had been completed.

We plan to continue to build this up with excess revenue from the letting of the pitches as available. At a further review in September 2016 we agreed our Financial Adviser's recommendations and invested a further £30,000 in the COIF Ethical fund, which can be accessed for appropriate spending in line with priorities. At 31st March 2021, our investments were valued at - COIF (Charities Official Investment Fund) - £255,021, Epworth Affirmative Equity Fund - £291,662 and Epworth Corporate Bond Fund - £180,416.

FINANCIAL REVIEW

Reserves policy

Having adopted a total return approach to investment as indicated above, the Trustees in consequence plan to spend each year an amount which when adjusted for inflation can, they believe, be sustained into the indefinite future by their capital resources. They will however make provision within that amount for future expenditure and contingencies which they believe should be spread over more than one year. They have accordingly set aside £199,991 at the year-end of past income which remains unspent at 31 March 2021 as a reserve. Its principal purpose is to facilitate renewal of sports facilities at the school which will be probably be required again within the next 5 years and which it may not be possible to fund wholly from other sources

Charity property

Charity Property is defined in the Scheme as land and buildings at Wirksworth in the County of Derbyshire, being the Anthony Gell School and its playing fields. The land is vested in the Official Custodian for Charities by virtue of the Scheme approved by Her Majesty in Council on 13 May 1887 and an order of the Charity Commission of 26 April 1927 as affected by the provisions of the Charities Act 1960. We transferred an area of land and an outbuilding to the owners of Old School House and renewed a lease to Western Power for a Sub Station adjoining Nether Gardens. The proceeds (£1,000 in each case) have been invested. Our land holding was registered with the Land Registry in 2013. There does not appear any more scope to dispose of property.

Page 5

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

FINANCIAL REVIEW

Financial Review

The Statement of Financial Activities shows net income on unrestricted activities of £12,837 before transfers and net expenditure on restricted activities is £5,589 before transfers. The performance of the stock market has increased significantly since 31/03/2020, resulting in an unrealised gain of £109,431 as at 31/03/2021.

The net effect of this is a surplus on the Income and Expenditure Account of £116,679. The overall funding for the year is 16.17% greater than the previous year.

At the end of the year, unrestricted funds total £218,246, which is sufficient to support the implementation of the charity's objects for the foreseeable future.

Total return order

As previously reported, we reviewed our financial and investment strategy and total return approach to investment which was approved by the Charity Commission who made an order dated 27 July 2006. This was subject to:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The Charity was originally established by a Scheme dated 28 June 1910. A new Scheme was approved by the Charity Commission and took effect on 25 May 2005.

Trustees

The current Scheme allows for 7 Trustees, Comprising of:

2 nominated Trustees:

5 co-opted Trustees:

These are currently: Anna Bristow, Cathy Cooke, Simon Hobbs, Debi Hedderwick and Lee Shakespeare.

All Trustees are appointed for terms of 4 years with no limit as to how often they may be reappointed.

Page 6

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

School governing body representatives

There are currently 3 Governing body representatives in non-voting capacities at our meetings. They are Malcolm Kelly (Headteacher), Lee Stephens (Chair of Governors) and Rosie Harrison (Vice Chair of Governors).

Trustee remuneration

None of the Trustees received any remuneration for their services during the year. The amount of expenses reimbursed was £nil in 2020-21 for travel costs to our Financial Adviser (£148.50 in 2019-20).

Operational management

Hugo Lane serves as Secretary, on a self-employed basis. The post covers 3 principal areas of responsibility: administrative support; maintaining financial records and support to individual trustees by undertaking delegated duties on their behalf in their respective areas of responsibility.

Legal advice

Glenn McClenaghan from Derbyshire Legal Services Ltd continues to provide the Trustees with excellent and sound advice.

Financial and Investment advice

Peter Jones supports the work of the Trustees by advising on prudent, remunerative and ethical strategies for investment of the Foundation's financial assets.

Additional adviser

At the January 2021 meeting, the Foundation engaged the services of Michael Allsop as an additional adviser without a specific brief.

Examination of the annual Financial Statements of the Foundation

Following a tendering process. Mills & Black Chartered Accountants were appointed to examine the Financial Statements for a further period of 3 years to the completion of the Financial Statements for the year ended 31st March 2021.

Related parties

The Trustees are required to disclose transactions with related parties.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

To this end, the Trustees review annually their financial regulations covering policies and practices to be observed in order to protect the assets of the Foundation and to mitigate risks to which it may become exposed.

The Foundation understands that this approach to risk management is ongoing and as such will continue to initiate new measures, as well as review existing ones, to reduce exposure.

The Foundation renewed their insurance for Trust and Trustees Liability, Public Liability (re: Property owned) and Legal expenses cover through Zurich Municipal for £774 (£761 in 2019-20).

Page 7

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT PUBLIC BENEFIT STATEMENT

The Trustees confirm that, under the terms of Section 17(5) of the Charities Act 2011, they have complied with their duty to have due regard to the public benefit guidance as published by The Charity Commission.

Historically, the Trustees have sought to support the core beneficiaries, under the terms of our charitable objects, through grants to the School and individuals. Additionally, assets have been sold or leased to create a medical centre, the Leisure Centre and sports pitches all of which assist not just the core beneficiaries but the greater public. During the year the Trustees have provided charitable funding, undertaken in furtherance of their charitable objects for the benefit of the public. These are highlighted in the report below.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

527178

Principal address

Wood Street Wirksworth Derbyshire DE4 4DX

Trustees

Anna Bristow Vice Chair Cathy Cooke Chair Simon Hobbs Nick Hodgson Chris Thompson (resigned 5.6.20) Chris Whittall Debi Hedderwick Lee Shakespeare (appointed 11.1.21)

Independent Examiner

M W Thomas ACA Mills & Black Derwent House 141-145 Dale Road Matlock Derbyshire DE4 3LU

Bankers

Lloyds Compton Ashbourne Derbyshire

Legal advice Glenn McClenaghan

Financial and Investment advice

Peter Jones

Page 8

ANTHONY GELL SCHOOL FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021

Approved by order of the board of trustees on 28 June 2021 and signed on its behalf by:

Cathy Cooke - Trustee

Page 9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANTHONY GELL SCHOOL FOUNDATION

Independent examiner's report to the trustees of Anthony Gell School Foundation

I report to the charity trustees on my examination of the accounts of Anthony Gell School Foundation (the Trust) for the year ended 31 March 2021.

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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me 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 have no concerns and have come across 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.

M W Thomas ACA Mills & Black Derwent House 141-145 Dale Road Matlock Derbyshire DE4 3LU

16 July 2021

Page 10

ANTHONY GELL SCHOOL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021

Unrestricted
fund
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
1,800
Investment income
3
43,249
Total
45,049
EXPENDITURE ON
Raising funds
4
774
Charitable activities
5
Anthony Gell School
31,438
Anthony Gell Almshouses
-
Total
32,212
Net gains/(losses) on
investments
-
NET
INCOME/(EXPENDITURE)
12,837
RECONCILIATION OF
FUNDS
Total funds brought forward
205,409
TOTAL FUNDS CARRIED
FORWARD
218,246		 Restricted
Endowment
funds
funds
£
£
5,438
-
-
-
5,438
-
-
-
11,027
-
-
-
11,027
-
-
109,431
(5,589)
109,431
20,989
475,698
15,400
585,129		 31.3.21
Total
funds
£
7,238
43,249
50,487
774
42,465
-
43,239
109,431
116,679
702,096
818,775		 31.3.20
Total
funds
£
7,815
67,337
75,152
761
50,062
80
50,903
(45,646)
(21,397)
723,493
702,096

The notes form part of these financial statements

Page 11

ANTHONY GELL SCHOOL FOUNDATION

BALANCE SHEET 31 March 2021

Notes
FIXED ASSETS
Investments
9
CURRENT ASSETS
Debtors
10
Cash at bank
CREDITORS
Amounts falling due within one
year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
Endowment funds:
Permanent Endowment
TOTAL FUNDS		 Unrestricted
fund
£
141,970
-
81,784
81,784
(5,508)
76,276
218,246
218,246		 Restricted
funds
£
-
1,419
13,981
15,400
-
15,400
15,400
15,400		 Endowment
funds
£
585,129
-
-
-
-
-
585,129
585,129		 31.3.21
Total
funds
£
727,099
1,419
95,765
97,184
(5,508)
91,676
818,775
818,775
218,246
15,400
585,129
818,775		 31.3.20
Total
funds
£
617,668
15,096
75,258
90,354
(5,926)
84,428
702,096
702,096
205,409
20,989
475,698
702,096

The financial statements were approved by the Board of Trustees and authorised for issue on 28 June 2021 and were signed on its behalf by:

Cathy Cooke - Trustee

The notes form part of these financial statements

Page 12

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

1. 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 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
31.3.21 31.3.20
£ £
Donations and grants 6,661 6,962
Gift aid 577 853
7,238 7,815

continued...

Page 13

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

3.
INVESTMENT INCOME
Rents received
Pitch income
Other fixed asset invest - FII
4.
RAISING FUNDS
Raising donations and legacies
Insurance
5.
CHARITABLE ACTIVITIES COSTS
Anthony Gell School
6.
SUPPORT COSTS
Anthony Gell School		 31.3.21
31.3.20
£
£
13,533
13,537
22,400
42,742
7,316
11,058
43,249
67,337
31.3.21
31.3.20
£
£
774
761
Support
Direct
costs (see
Costs
note 6)
Totals
£
£
£
38,586
3,879
42,465
Governance
costs
£
3,879

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,300
Investment income
67,337
Total
68,637
EXPENDITURE ON
Raising funds
761
Charitable activities
Anthony Gell School
46,062
Anthony Gell Almshouses
80		 Restricted
Endowment
funds
funds
£
£
6,515
-
-
-
6,515
-
-
-
4,000
-
-
-		 Total
funds
£
7,815
67,337
75,152
761
50,062
80

continued...

Page 14

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Endowment Total
fund funds funds funds
£ £ £ £
Total 46,903 4,000 - 50,903
Net gains/(losses) on investments - - (45,646) (45,646)
NET INCOME/(EXPENDITURE) 21,734 2,515 (45,646) (21,397)
Transfers between funds (1,796) 1,796 - -
Net movement in funds 19,938 4,311 (45,646) (21,397)
RECONCILIATION OF FUNDS
Total funds brought forward 185,471 16,678 521,344 723,493
TOTAL FUNDS CARRIED FORWARD 205,409 20,989 475,698 702,096
9. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 April 2020 617,668
Revaluations 109,431
At 31 March 2021 727,099
NET BOOK VALUE
At 31 March 2021 727,099
At 31 March 2020 617,668
There were no investment assets outside the UK.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£ £
Trade debtors - 13,400
Other debtors 1,419 1,696
1,419 15,096

Page 15

continued...

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
12.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
205,409
Restricted funds
Special Needs Fund
762
Art Equipment Bursary
150
Friends of Anthony Gell School
15,926
Outdoor education
1,100
Archives
1,255
Sports Hall Floor
1,796
20,989
Endowment funds
Permanent Endowment
475,698
TOTAL FUNDS
702,096
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
45,049
(32,212)
Restricted funds
Friends of Anthony Gell School
5,438
(10,060)
Sports Hall Floor
-
(967)
5,438
(11,027)
Endowment funds
Permanent Endowment
-
-
TOTAL FUNDS
50,487
(43,239)		 31.3.21
31.3.20
£
£
-
368
5,508
5,558
5,508
5,926
Net
movement
At
in funds
31.3.21
£
£
12,837
218,246
-
762
-
150
(4,622)
11,304
-
1,100
-
1,255
(967)
829
(5,589)
15,400
109,431
585,129
116,679
818,775
Gains and
Movement
losses
in funds
£
£
-
12,837
-
(4,622)
-
(967)
-
(5,589)
109,431
109,431
109,431
116,679

Page 16

continued...

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.19
in funds
£
£
Unrestricted funds
General fund
185,471
21,734
Restricted funds
Special Needs Fund
762
-
Art Equipment Bursary
150
-
Friends of Anthony Gell School
13,411
2,515
Outdoor education
1,100
-
Archives
1,255
-
Sports Hall Floor
-
-
16,678
2,515
Endowment funds
Permanent Endowment
521,344
(45,646)
TOTAL FUNDS
723,493
(21,397)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
68,637
(46,903)
Restricted funds
Friends of Anthony Gell School
6,515
(4,000)
Endowment funds
Permanent Endowment
-
-
TOTAL FUNDS
75,152
(50,903)		 Transfers
between
At
funds
31.3.20
£
£
(1,796)
205,409
-
762
-
150
-
15,926
-
1,100
-
1,255
1,796
1,796
1,796
20,989
-
475,698
-
702,096
Gains and
Movement
losses
in funds
£
£
-
21,734
-
2,515
(45,646)
(45,646)
(45,646)
(21,397)

continued...

Page 17

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Special Needs Fund
Art Equipment Bursary
Friends of Anthony Gell School
Outdoor education
Archives
Sports Hall Floor
Endowment funds
Permanent Endowment
TOTAL FUNDS		 At 1.4.19
£
185,471
762
150
13,411
1,100
1,255
-
16,678
521,344
723,493		 Net
movement
in funds
£
34,571
-
-
(2,107)
-
-
(967)
(3,074)
63,785
95,282		 Transfers
between
funds
£
(1,796)
-
-
-
-
-
1,796
1,796
-
-		 At
31.3.21
£
218,246
762
150
11,304
1,100
1,255
829
15,400
585,129
818,775

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Friends of Anthony Gell School
Sports Hall Floor
Endowment funds
Permanent Endowment
TOTAL FUNDS		 Incoming
resources
£
113,686
11,953
-
11,953
-
125,639		 Resources
expended
£
(79,115)
(14,060)
(967)
(15,027)
-
(94,142)		 Gains and
Movement
losses
in funds
£
£
-
34,571
-
(2,107)
-
(967)
-
(3,074)
63,785
63,785
63,785
95,282		 Gains and
Movement
losses
in funds
£
£
-
34,571
-
(2,107)
-
(967)
-
(3,074)
63,785
63,785
63,785
95,282
(3,074)
63,785
95,282

continued...

Page 18

ANTHONY GELL SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2021

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

14. PERMANENT ENDOWMENT FUND

The Permanent Endowment Fund is apportioned as follows as at 31 March 2021:

£
Unapplied total return at 1 April 2004 as agreed by the Charity Commission 229,825
Add: Realised gain on sale of land at Canterbury Terrace in Y/E 31 March 2010 45,722
Add: Unrealised gains/(losses) on investment - To March 2020 188,838
Year ended 31 March 2021 109,431
Unapplied total return as at 31 March 2021 573,816
Balance of Endowment fund deemed to be original value of the gift 11,313
585,129

Page 19

ANTHONY GELL SCHOOL FOUNDATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021

31.3.21 31.3.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations and grants 6,661 6,962
Gift aid 577 853
7,238 7,815
Investment income
Rents received 13,533 13,537
Pitch income 22,400 42,742
Other fixed asset invest - FII 7,316 11,058
43,249 67,337
Total incoming resources 50,487 75,152
EXPENDITURE
Raising donations and legacies
Insurance 774 761
Charitable activities
Anthony Gell School 38,586 46,291
Support costs
Governance costs
Auditors' remuneration for non audit work 900 888
Secretarial fees 2,979 2,963
3,879 3,851
Total resources expended 43,239 50,903
Net income 7,248 24,249

This page does not form part of the statutory financial statements

Page 20