2021-03-31-accounts - Boston Grammar School Charitable Foundation

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Trustees' Annual Report for the period

Period start date Period end date 01 04 2020 31 03 2021

From

Section A Reference and administration details

Charity name

Boston Grammar School Charitable Foundation

Other names charity is known by Registered charity number (if any) 527292

Charity's principal address 28 Wide Bargate,

Boston, Lincs Postcode PE21 6RT

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee(if any)
Martin Griggs		Boston Borough Council (BBC)
Brian Pycock		Co-opted
Peter Sharman		Co-opted
Robert Griffiths		Co-opted
James Tryner	Vice Chairman	LCC
Stephanie Dickens		LCC
Anton Dani		Ex-officio
Peter Lawson		Co-opted
Martyn Hammond	Chairman	LCC
Robert Barclay		LCC
John Brogden		Co-opted
Alison Austin		BBC
Maurice Judge		LCC
Stephen Woodliffe		BBC
Sarah Fitzgerald		BBC

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document Scheme dated 24th Nov. 2010

(eg. trust deed, constitution)

Trust How the charity is constituted

(eg. trust, association, company)

Trustee selection methods 1 ex-officio, 9 appointed, 6 co-opted (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

To advance the education of pupils and former pupils of Boston Grammar School.

Summary of the objects of the charity set out in its governing document

TAR

March 2012

Awarding scholarships and prizes, giving financial assistance to needy pupils, and assisting the school with grants to enable it to advance pupils' education. The trustees have regard to the guidance issued by the Charity Commission on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Scholarships awarded £26,000 Summary of the main School Covid emergency support £25,598 achievements of the charity Music tuition contribution £3,287 during the year

TAR

March 2012

Section E Financial review

Brief statement of the We aim to maintain sufficient reserves to meet our commitments and to charity’s policy on reserves fulfil our objectives.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Frank Cammack

Full name(s) Frank Cammack Position (eg Secretary, Chair, Clerk etc) Date 7th January 2022

TAR

March 2012

REGlSfERED CfrIARITY NUMBER.. 527292 BOSTON GIIAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUIITS FOR THE YEAR ENOED 31 MARCH 2021

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION YEAR ENDED 31 MARCH 2011 CONTENTS Govemors Ac¢ount (Includlnq rhe Charter Londs Chartty uccount ond the varlous prfzefundsj Medlock Trust Scholar5hlp Fund Dora Stsnley Scholarshlp Fund Dora Stsnley General Fund Durham Castle Scholarshlp Fund Summary of all recelpts and payments accounts Statement of assets and IlabllRles Notes to the recelpt and payments account 8toll Independent examlners report 12

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDAIION RECEIPTSAND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2021 GOVERNORS ACCOUNT {Indudlng Th• Chartv Landi awrlty andthe rIOuS pilzefunds) 2021 2020 ec Olvldends recelved (gr$) Interest recelved (Brossl Sale of Hendersorb Investment Funds Ltd 11,742,13 5NJ.00 14.654.19 501.17 9,801.26 18.40 Wayleave 12,242.13 24.975.02 Hardshlp fund Mlnlbus contrlbutlon LOO0.00 5,000.00 4,394.27 2,566.00 833.LYJ Muslc tultlon Ll8htln8 Prlze gIng Lerturer of Boston 3,287.63 249.96 249.96 Insurance 629.80 1,259.60 200.00 201.52 1,SOJ.00 360.00 Custody fees Char8es and levle5 aerks salary {ollocotlonJ Independent examlners fee Accourrtan {qllo¢otlon) 200.00 1.5QJ.00 360.IXI 420.00 6,227.39 17,984.35 Net re¢elpts forihe year 6,014.74 6.990.67 Page I

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMErirs ACCOUNTS YEAR ENDED 31 MARCH 2021 MEDLOCK Tiiusf SCHOLARSHIP FUIID 2021 Dlvldends recelved Igrossl Interest recelved18rossl Funds recelved from Har8rew• HJle Jc¢ount Sal8 of SSE PLC 18.764.26 862.$0 22.387.65 1.762.19 429.95 7,094.93 9,675,13 15.(W.00 Sale of Henderson Invertment Funds Ltd Redèmpuon of El Group PLC 19,626.76 56,349.8S Scholar5hlps Cu5todyfees Charges and levle5 Clerks $alary Accountancv 16.900.00 225.LM) 15.600.00 200.00 353.47 1¢711ocotlonJ (ollocotlonj L7SO.00 575.c4) | 1,750.00 490.00 .450.00 18.393.47 NEt recelpts lor th• y••r 176.76 37.956.38 Pa8e 2

BQSTOPI GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 20ZI DORASTANLEYSCHOLARSHIP FUND 2021 2020 Olvidends recelved (Brossl Interest received Igr0551 Funds received from Hargreave Hale account Sale of HICL Infrastructure PLC Sale of Intematlonal Publlc Pdrtnershlp Sale of Centrtca 8,253A5 L717.87 12.453.63 1.873.18 246.15 6.650.22 6.529.60 1387.79 9.97L72 30.140.57 Scholarshlps Custody fees Charges and levles Clerks salary Accountancy 9,100.00 200.00 347.84 9.100.00 200.00 362.44 (olloc¢rtlonJ {cllocationJ 1.250.00 660.00 1.250.00 350.00 I157.84 11.262.44 Net(paym•nts) IrKelpts foTthq ar 11,586.121 18.878.13 Page 3

BOSTON GRAMMAR SCHOIX CHARITABLE FOUNDATION RECEIPTS AND PAYMEpifs ACCOUPlfS. YEAR ENDED 31 MARCH 2021 DORA STANLEY GENEAAL FUND cè Dlvldends recelved (gr0551 Investment Inwrne 4.8197 61.38 1.091.10 533.38 L624.48 4,881.25 support to the school Musl¢ asslstance 25,598.(K) 7.626.LK) 25598.1 7,626.0) 14•t Ipym•nts) lor th• y••r 20.716.75) 6.001,52 Pa8e 4

BosfoN GRAMMAR SCHOOLCHARrrABLE FOUNDATION RELEIPTS AND PAYMEpifs ACCOUNTS YEAR ENDED 31 MARCH 2021 DURHAM CASTLE SCHOLARSHIP TRusr 2021 2020 Dividends received Igros51 Interest re}ve Igrossl Funds reoived from Hargreave Hale account Sale of HICL Infrastructure PLC 4.919. 312.50 6.940.63 520.21 124.82 4,156.39 1,959.18 4,821.35 8,¢XKS.LJ) Sale of Centrica Sale of SSE PLC ProedS of redemption of Primary Heath 5,231.58 26.522.5B Pa Scholarshlps Custodyfees Charges and levies Legal fee5 Clerk5 salary {ollocotionJ Accountancy {ollocutionJ 2.5CiI.00 200.(KI 2C#).00 281.Ll) 240.00 5(Ll.00 365.(Kl 140.00 1,273.73 3,861.00 Net receipts for the year 3,957.85 22,661.58 Page 5

BOSTON GRAMMAR SCHOOL CHAHITABLE FOUNDAnON RECEIPTS AND PAYMENTS ACCIXINTS YEAR ENDED 31 MARCH 2021 SUMMARY OF ALL RECEIPT5 AND PAYMENTS ACCOUNTS 2021 2020 Rece Governors Account 11242.13 24.975.02 nrluding The OJgrterLond5 ajarlty uccount ¢7nd the varlousprtzefvnds) MedlockTrust Scholarship Fur Dora Stanley Scholarship Fund Dora stanley General Fund Durham Castle Scholarshlp Fund 19.626.76 9.971.72 4.881.25 5.231.58 56,349.85 30.140.57 1,624.48 26522.58 Totsl YeIpts 51.953.44 139,612.50 Pa Governors A¢wunt 6,227.39 17.984.35 (includlng The thorter Londs ChoAty account and the voriouspn2efvnds) MedlockTrust 5cholarshlp Fund l)tsra Stanley Scholarshlp Fund Dora Stanley Gèneral Fund Durham Castle Scholarship Fund 19,450.C 11,557.84 25,598.C(I L273.73 18,393.47 11,262.44 7,626.00 3.861.00 Totsl paymÈnts 64.106.96 59,127,26 Net Ipaymtntsll recelpts for the year 112.153.521 80,485.24 cerall reconcillètlon: Net payments forthe year Losses on d5sposals - Dora Stanley Scholarship fund L055e5 on disposals- Durham Castle fvnd Bank reconelllation adjustment 112,1531 16.5121 13,5001 Movement In MstrS Page 6

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDAnOI4 STATEMENT OF A$ST AND UABILMES AS AT 31 MARCH 20ZI 2021 2020 Au•ts: In¥èstm*n Investments at cost note I 951.514. 936,230.00 NB- Some Medlock Ossets were donatedso have no cost Canaccord Income account Canaccord Capltal account note 2 5,270.99 4.535.02 8,235.31 16,178.83 note 2 961,320.01 960,644.14 nk• NatWest- current account 100.D) 135.484.36 100.C#) N4tWest- busSness reseNe account NatWest<urrent a¢count-Medlock S¢holarshlp Fund 151,797.71 29,IS6.79 24,868.71 160,453.07 181,054.50 NET ASSETS 1,121,773.08 1,141,698.64 Note- In oddltlon to the above, the chartty olso holds land Includln9 the Ilbmryi the yordondsurroundlnq bulldlnqs whlch ore occupled by the school. Repreiented by: Funds: Permanent endowment funds Restrlcted funds Unrestrlcted fund5 note 2 note 2 224.904.66 648,856.28 248,012.14 226,173.81 656,319.83 259,205.00 note 2 TOTAL FUNDS 1,121.773.08 1,141,698.64 These recelpts and payment5 accounts have been approved by the Trustees on .............................. and slgned on thelr behalf by.. mmond- tTUStee J R K Tryner- trustee Page 7

BOSTON GRAMMAR KHOOL CHARrrABLE FIYJNDATION MOTESTO THE RECEIPTS AND PAYMENTS ACC(XJNrs YEAR ENDEO 31 MARCH 2021 I Inv•stment&' In¥estments at ujst 14.(Xl NB.some Medlock assets were donqtedso no cost ondare not Indu1 the abTht totd. Marketvalue of investments 366 810.33 Addttkn Valuatlon at vaatIO at hbth• 03 Govemots A£tount 223514.lyj In above 22314.09 In ab 376.261.24 in above in above 292,516.00 In above The tharterLqnd5 Chorltytyccount Various prize fvnds (note 3) Medlock Trustscholarshlp Fund Medlock TrustSchoiar5hip Fund- donatsd Investments 6.042.91 188521.IX) 6.042.91 .659.(K> In above 20.138.(KI 242.543.15 189.547.Cl) 197.470.00 271.712.34 133,947.47 144,876.13 155.740.(K) 233.008.(M) 109.948. 109.289.(Kl th)ra Stsnley Scholarship Fund tlora Stsnley General Fund Durham Castle Scholarship Fund 2s1.0) I40..1*) 126.247.lYJ 20.170. 13L246.IXI) 240.829A I40.. 132.469m 1822LOO Ill.999.) 936.230.(MJ 58529.IXJ {43.245.(XJl 951.514. 1.366,810.33 1.090.048.1K) Page 8

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION 1407ESTO THE RECEIPTS AND PAYMENTS ACCOUP4TS YEAR EIIDED 31 MARCH 2021 2 FUNIS: Unrostrlct•d general funds- are funds whith ean be used In accordance wlth the charitsble objects at the dlscretlon of the trustees. DesIatsd funds-are funds set aside byttee5 Out of unrestricted funds for specific future purposes or projects. Re5trlrted fund5-are funds that can only be used for partlcular restrlcted purposes wlthln the oblects of the charlty. Restrlctlons arlse when spKlfied by the donororwhen fvnds are ratsed for partlcular restrlrted purpose5. Invernets lat costl Cash held at Canaccord Bank account Totsl as at 3110312021 Total as at 3V0312tr20 rJ)vernors Account (induding The CharterLands chority) Prize funds lin totall Intstè 31 Medlock Trust StholaTship Fund Dora Stanley Srholarshlp Fund Dora Stanley General Fund Durham Castle Scholarshlp Fund 223,51&K09 1.390.57 18,557.59 243.462.25 235,207.51 6,042.91 208.659.00 240.829.00 140.OOD.C 3.795A7 24.868.71 14.774.04 89.454.55 9.2.31 9,83&78 237.132.94 260.092.86 229.454.55 14L791.70 9,83&78 236.955.88 268,190.92 2SO,171.30 141,334.25 3,605.23 4.489A2 320.39 Totsl fvnd&' 95L514.00 9,806.01 160.463.07 1,121.773.08 1.141.698.64 Page 9

8osroN GRAMMAR SCHOOI CHARiTABiE FOUNfAITION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH J)ZI 2 FundL" Contlnu•d restrkted Totsl M at fvnth 3110¥2021 Totsl •1 at 3110¥2020 funth Governors Account 224.66 SS7.59 243.462.2S 235.207.51 Ilncludlng The CharterLands charttyj Pr12e funds Iln totsll (note 31 Medlod¢Trust Stholarshlp Fund Dora stsnley Stholarshlp Fund Dora Stsnley General Fund Durham Castle Scholarshlp Fund 9.83&78 237.132.94 260,092.86 9.838.78 237,132.94 260.092.86 229.454.55 14L791.70 9.8x78 236,955.88 268.19).92 250.171.30 14L334.25 229.454.55 14L791.70 Totsl lunth: 224.904.66 648.856.28 248.012.14 1.121,773.08 1,14L698.64 Medlock Trurt Scholarshlp Fund - th15 fund provldes fvnd5 for student 5tholatshlp5. Dora Stsnley Scholarship Fund- thls fund provldes fund5 for student scholatshlp& Durham Castle Scholarshlp Fund- thls fund prcwldes funds for student 5cIK¥larship5. The Governors Account indudes an element of pernunent endowment whkh was used to establlsh the thartty. The element of pèmMn¢nt endowment Is included behlnd the Investments held by the tharity. The varlous prlze funds were set up In order to provbde annual prltes hr stydent meetin8 the appropriate prize fund crrteria la 5pIIt of the prtze funds bn shown In note 31. Page 10

BosfoN GRAMMAR SCHOOL CHAftrrABLE FOUNDATION NOTES TO THE RECEivf5 AND PAYMEKfs Accouiifs YEAR ENDED 31 MARCH 2021 3 Prize fvn The varlous prfze fund balances are as follows: Investments at cost 3110312021 Bank account 3V0312021 lrtvestments at tost 31103/2020 Bank ttount 3V0312020 The Ushers Charity The Frank Harrison Hill Exhibftlon 899.89 508.12 508.12 The Willlam Scorer prize fvnd The Arthur Hill Memorial prize fijnd The Hamistone prize fund The Lockwood Memorial prize fund The Parklnson prize for modern languages The Cyril Leslle Farrow cricket prlze fund The George Bagley Fund The Gratton Mathematics pri fvnd The A5hberyprizefvnd 88.52 88.52 239.97 178.T7 239.97 178.77 909.31 909.31 44.45 44.45 186.63 289.45 186.63 289.45 256.42 383.93 256.42 383.93 3,8. 1,272.50 13.10 3,8.(KI 1,272.50 .10 107.72 107.72 6.042.91 3.795.87 6.042.91 3,795.87 The various prlze funds have been set up over a number of years and priies are award anrtually as approprLite based on the crterla for each separate prfze fund. Pa8e 11

INDEPENDE EXAMINERS REPORTTO THE TRUSTEES OF BooN GRAMMAR SCHOOL CHARITABLE FOUNDATION Independent examiner's report to the tru5tee5 of Boston Grammar School Charltable Foundatlon I report to the charlty trustees on my examlnation of the accounts ol Boston Gramrnar School Charltable Foundation for the year ended 31 March 2021 whlch are set out on pages I to 11. Responslbilltles and basls of report As the charlty trustees of the Trust you are respon51ble for the preparatlon of the accounts In accordance wlth the requlrements of the Charlties Act 20111'the Act'l. I report In respect of my examination of the charlty's accounts carrled out under sectlon 145 of the Act and In carrying out my examlnation I have followed all appllcable Dlrectlons glven by the Charlty Commlsslon under sectlon 14515llbl of the Act. Independent e¥amlner'5 Statement I have completed my examinatlon. I conflrm that no materlal matters have come to my attentlon In ¢onnecllon wSth the examlnatlon Blvlng me cause to belleve that In any materlal fespe¢t.' accountlng records were not kept In respect of the Tfust as requlred by sectlon 130 of the Act,. or the accounts do not accord wlth those records. I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper under5tandln8 of the accounts to be reached. Mrs N Lenton FCCA Dexter & Sharpe Chartered Certlfled Accountants The Old Vicarage Church Close Boston LlncolnshSre PE216NA Dated.. 91 &b21 PaEe 12

REGlSfERED CfrIARITY NUMBER.. 527292 BOSTON GIIAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUIITS FOR THE YEAR ENOED 31 MARCH 2021