**To**
## **Trustees' Annual Report for the period**
Period start date Period end date 01 04 2021 31 03 2022
**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**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**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|||LCC|
||Peter Lawson|||Co-opted|
||Martyn Hammond|Chairman||LCC|
||Robert Barclay|||LCC|
||John Brogden|||Co-opted|
||Alison Austin|||BBC|
||Maurice Judge||April 1stto 30thNovember|LCC|
||Stephen Woodliffe|||BBC|
||Sarah Fitzgerald|||BBC|
||Frank Pickett|||Ex-officio|
||||||
||||||
||||||
||||||
**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**
1
## **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**
2
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**
3
Section D Achievements and performance
Scholarships awarded £23,400 **Summary of the main** Music tuition contribution £1,137 **achievements of the charity** Minibus support £2,000 **during the year**
**TAR**
March **2012**
4
## **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** 4th December 2022
**TAR**
March **2012**
5
**REGISTERED CHARITY NUMBER: 527292**
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **YEAR ENDED 31 MARCH 2022**
## **CONTENTS**
|Governors Account|1|
|---|---|
|_(including The Charter Lands Charity account_||
|_and the various prize funds)_||
|Medlock Trust Scholarship Fund|2|
|Dora Stanley Scholarship Fund|3|
|Dora Stanley General Fund|4|
|Durham Castle Scholarship Fund|5|
|Charles McMahon Scholarship Fund|6|
|Summary of all receipts and payments accounts|7|
|Statement of assets and liabilities|8|
|Notes to the receipt and payments account|9 to 12|
|Independent examiners report|13|
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **GOVERNORS ACCOUNT (including The Charter Lands Charity and the various prize funds)**
|Receipts
Dividends received (gross)
Interest received (gross)
Wayleave
Pay
me
nts
Hardship fund
Minibus contribution
Music tuition
Lighting
Prize giving
Lecturer of Boston
Insurance
Broker Charges
Investments - charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Independent examiners fee
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
12,590.69
500.00
6.90
13,097.59
-
2,000.00
1,136.36
-
-
249.96
654.80
-
-
200.00
-
1,500.00
360.00
504.00
6,605.12
6,492.47|**2021**|**2021**|
|---|---|---|---|
||£
-
2,000.00
1,136.36
-
-
249.96
654.80
-
-
200.00
-
1,500.00
360.00
504.00|£
-
-
3,287.63
-
-
249.96
629.80
200.00
-
1,500.00
360.00
-|£
11,742.13
500.00
-|
||||12,242.13
6,227.39|
|||||
||||6,014.74|
Page 1
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **MEDLOCK TRUST SCHOLARSHIP FUND**
|Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments – charges
Bank charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
19,958.34
862.50
20,820.84
11,700.00
-
-
75.00
-
1,750.00
1,278.00
14,803.00
6,017.84|**2021**|**2021**|
|---|---|---|---|
||£
11,700.00
-
-
75.00
-
1,750.00
1,278.00|£
16,900.00
-
-
225.00
-
1,750.00
575.00|£
18,764.26
862.50|
||||19,626.76
19,450.00|
|||||
||||176.76|
Page 2
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DORA STANLEY SCHOLARSHIP FUND**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments - charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net(payments) /receipts for the year**|**2022**
£
£
8,937.72
1,383.49
10,321.21
11,700.00
-
50.00
-
1,250.00
1,212.00
14,212.00
(3,890.79)|**2021**|**2021**|
|---|---|---|---|
||£
11,700.00
-
50.00
-
1,250.00
1,212.00|£
9,100.00
-
200.00
347.84
1,250.00
660.00|£
8,253.85
1,717.87|
||||9,971.72
11,557.84|
|||||
||||(1,586.12)|
Page 3
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DORA STANLEY GENERAL FUND**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Support to the school
**Net (payments) for the year**|**2022**
£
£
5,303.54
13.85
5,317.39
-
-
5,317.39|**2021**|**2021**|
|---|---|---|---|
||£
-|£
25,598.00|£
4,819.87
61.38|
||||4,881.25
25,598.00|
|||||
||||(20,716.75)|
Page 4
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DURHAM CASTLE SCHOLARSHIP TRUST**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments - charges
Custody fees
Charges and levies
Legal fees
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
5,973.20
312.50
6,285.70
-
-
50.00
-
-
500.00
606.00
1,156.00
5,129.70|**2021**|**2021**|
|---|---|---|---|
||£
-
-
50.00
-
-
500.00
606.00|£
-
-
200.00
208.73
-
500.00
365.00|£
4,919.08
312.50|
||||5,231.58
1,273.73|
|||||
||||3,957.85|
Page 5
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**CHARLES MCMAHON SCHOLARSHIP FUND**
Receipts
Donations received
Pay
me
nts
**Net receipts for the year**|**2022**
£
£
3,200.00
3,200.00
-
-
3,200.00|**2021**|**2021**|
|---|---|---|---|
||£
-|£
-
-|£
-|
||||-
-|
|||||
||||-|
Page 6
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**SUMMARY OF ALL RECEIPTS AND PAYMENTS ACCOUNTS**
Receipts:
Governors Account
_(including The Charter Lands Charity_
_account and the various prize funds)_
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total receipts**
Payments:
Governors Account
_(including The Charter Lands Charity_
_account and the various prize funds)_
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total payments**
**Net (payments)/ receipts for the year**|**2022**
£
£
13,097.59
20,820.84
10,321.21
5,317.39
6,285.70
3,200.00
59,042.73
6,605.12
14,803.00
14,212.00
-
1,156.00
-
36,776.12
22,266.61|**2021**|**2021**|
|---|---|---|---|
||£
6,605.12
14,803.00
14,212.00
-
1,156.00
-|£
6,227.39
19,450.00
11,557.84
25,598.00
1,273.73
-|£
12,242.13
19,626.76
9,971.72
4,881.25
5,231.58
-|
||||51,953.44
64,106.96|
|||||
||||(12,153.52)|
Page 7
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **STATEMENT OF ASSEST AND LIABILITIES AS AT 31 MARCH 2022**
|**STATEMENT OF ASSEST AND LIABILITIES**
**AS AT 31 MARCH 2022**||||||
|---|---|---|---|---|---|
|||**2022**||**2021**||
|||£|£|£|£|
|**Assets:**||||||
|**Investments:**||||||
|Investments at cost|_note 1_||951,514.00||951,514.00|
|_NB - some Medlock assets were donated so have no cost_||||||
|_Cash investments:_||||||
|Canaccord Income account|_note 2_||5,107.89||5,270.99|
|Canaccord Capital account|_note 2_||4,185.02||4,535.02|
||||960,806.91||961,320.01|
|**Bank accounts:**||||||
|NatWest - current account||100.00||100.00||
|NatWest - business reserve account||152,238.16||135,484.36||
|NatWest-current account-Medlock Scholarship Fund||30,894.62||24,868.71||
||||183,232.78||160,453.07|
|**NET ASSETS**|||1,144,039.69||1,121,773.08|
|_Note - in addition to the above, the charity also holds land including the_|||_library, the yard and surrounding buildings_|||
|_which are occupied by the school._||||||
|**Represented by:**||||||
|**Funds:**||||||
|Permanent endowment funds|_note 2_||224,323.92||224,904.66|
|Restricted funds|_note 2_||659,313.03||648,856.28|
|Unrestricted funds|_note 2_||260,402.74||248,012.14|
|**TOTAL FUNDS**|||1,144,039.69||1,121,773.08|
These receipts and payments accounts have been approved by the Trustees on 8 November 2022 and signed on their behalf by:
M Hammond - trustee
J R K Tryner - trustee
Page 8
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**1**|**Investments:**
Investments at cost|**202**
**2**
£
951,514.00|**202**
**1**
£
951,514.00|
|---|---|---|---|
_NB - some Medlock assets were donated so have no cost and are not included in the above total._
|Market value of investments|||||**202**
**2**
£
1,439,193.15|**202**
**2**
£
1,439,193.15||**202**
**1**
£
1,366,810.33|**202**
**1**
£
1,366,810.33||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||
|Governors Account
_The Charter Lands Charity account_
Various prize funds (note 3)
Medlock Trust Scholarship Fund
Medlock Trust Scholarship Fund -
donated investments
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund||**Cost at**
**01/04/2021**
£
223,514.09
in above
6,042.91
208,659.00
-
240,829.00
140,000.00
132,469.00
951,514.00||||**Additions**
**in the year**
£
-
-
-
-
-
-
-
-
-|||**Disposals**
**in the year**
£
-
-
-
-
-
-
-
-
-||**Cost at**
**31/03/2022**
£
223,514.09
in above
6,042.91
208,659.00
-
240,829.00
140,000.00
132,469.00
951,514.00|||**Valuation at**
**31/03/2022**
£
392,900.56
in above
in above
266,293.29
178,180.00
299,239.02
145,776.57
156,803.71
1,439,193.15||**Valuation at**
**31/03/2021**
£
376,261.24
in above
in above
242,543.15
197,470.00
271,712.34
133,947.47
144,876.13
1,366,810.33|
|||||||||||||||||1,366,810.33|
||||||||||||||||||
Page 9
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **2 Funds:**
**Unrestricted general funds** – are funds which can be used in accordance with the charitable objects at the discretion of the trustees. **Designated funds** – are funds set aside by trustees out of unrestricted funds for specific future purposes or projects. **Restricted funds** – are funds that 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.
|**Fund balances:**
Governors Account
_(including The Charter Lands charity)_
Prize funds (in total) (note 3)
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total funds:**||**Investments**
**(at cost)**
£
223,514.09
6,042.91
208,659.00
240,829.00
140,000.00
132,469.00
-
951,514.00|**Cash held at**
**Canaccord**
£
809.83
-
3,597.16
4,476.61
-
409.31
-
9,292.91|**Bank**
**account**
£
25,630.80
3,795.87
30,894.62
10,896.46
94,771.94
14,043.09
3,200.00
183,232.78|**Total as at**
**Total as at**
**31/03/2022**
**31/03/2021**
£
£
249,954.72
243,462.25
9,838.78
9,838.78
243,150.78
237,132.94
256,202.07
260,092.86
234,771.94
229,454.55
146,921.40
141,791.70
3,200.00
1,144,039.69
1,121,773.08|
|---|---|---|---|---|---|
Page 10
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **2 Funds: Continued**
|**Fund balances:**
Governors Account
_(including The Charter Lands charity)_
Prize funds (in total) (note 3)
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total funds:**||**Permanent**
**endowment**
£
224,323.92
-
-
-
-
-
-
224,323.92|**Restricted**
**funds**
£
-
9,838.78
243,150.78
256,202.07
-
146,921.40
3,200.00
659,313.03|**Unrestricted**
**funds**
£
25,630.80
-
-
-
234,771.94
-
-
260,402.74|**Total as at**
**Total as at**
**31/03/2022**
**31/03/2021**
£
£
249,954.72
243,462.25
9,838.78
9,838.78
243,150.78
237,132.94
256,202.07
260,092.86
234,771.94
229,454.55
146,921.40
141,791.70
3,200.00
1,144,039.69
1,121,773.08|
|---|---|---|---|---|---|
Medlock Trust Scholarship Fund - this fund provides funds for student scholarships.
Dora Stanley Scholarship Fund - this fund provides funds for student scholarships.
Durham Castle Scholarship Fund - this fund provides funds for student scholarships.
The Governors Account includes an element of permanent endowment which was used to establish the charity. The element of permanent endowment is included behind the investments held by the charity.
The various prize funds were set up in order to provide annual prizes for student meeting the appropriate prize fund criteria (a split of the prize funds in shown in note 3).
Page 11
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **3 Prize funds:**
The various prize fund balances are as follows:
|The various prize fund balances are as follows:|||||
|---|---|---|---|---|
|The Ushers Charity
The Frank Harrison Hill Exhibition
The William Scorer prize fund
The Arthur Hill Memorial prize fund
The Harmstone prize fund
The Lockwood Memorial prize fund
The Parkinson prize for modern languages
The Cyril Leslie Farrow cricket prize fund
The George Bagley Fund
The Gratton Mathematics prize fund
The Ashberry prize fund|Investments
at cost
31/03/2022
£
899.89
660.00
-
239.97
-
-
186.63
256.42
3,800.00
-
-
6,042.91|Bank
account
31/03/2022
£
-
508.12
88.52
178.77
909.31
44.45
289.45
383.93
1,272.50
13.10
107.72
3,795.87|Investments
at cost
31/03/2021
£
899.89
660.00
-
239.97
-
-
186.63
256.42
3,800.00
-
-
6,042.91|Bank
account
31/03/2021
£
-
508.12
88.52
178.77
909.31
44.45
289.45
383.93
1,272.50
13.10
107.72|
|||||3,795.87|
The various prize funds have been set up over a number of years and prizes are awarded annually as appropriate based on the criteria for each separate prize fund.
Page 12
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **Independent examiner's report to the trustees of Boston Grammar School Charitable Foundation**
I report to the charity trustees on my examination of the accounts of Boston Grammar School Charitable Foundation for the year ended 31 March 2022 which are set out on pages 1 to 12.
## **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 charity'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.
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.
Mrs N Lenton FCCA Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Dated: 28 November 2022
Page 13
**REGISTERED CHARITY NUMBER: 527292**
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **YEAR ENDED 31 MARCH 2022**
## **CONTENTS**
|Governors Account|1|
|---|---|
|_(including The Charter Lands Charity account_||
|_and the various prize funds)_||
|Medlock Trust Scholarship Fund|2|
|Dora Stanley Scholarship Fund|3|
|Dora Stanley General Fund|4|
|Durham Castle Scholarship Fund|5|
|Charles McMahon Scholarship Fund|6|
|Summary of all receipts and payments accounts|7|
|Statement of assets and liabilities|8|
|Notes to the receipt and payments account|9 to 12|
|Independent examiners report|13|
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **GOVERNORS ACCOUNT (including The Charter Lands Charity and the various prize funds)**
|Receipts
Dividends received (gross)
Interest received (gross)
Wayleave
Pay
me
nts
Hardship fund
Minibus contribution
Music tuition
Lighting
Prize giving
Lecturer of Boston
Insurance
Broker Charges
Investments - charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Independent examiners fee
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
12,590.69
500.00
6.90
13,097.59
-
2,000.00
1,136.36
-
-
249.96
654.80
-
-
200.00
-
1,500.00
360.00
504.00
6,605.12
6,492.47|**2021**|**2021**|
|---|---|---|---|
||£
-
2,000.00
1,136.36
-
-
249.96
654.80
-
-
200.00
-
1,500.00
360.00
504.00|£
-
-
3,287.63
-
-
249.96
629.80
200.00
-
1,500.00
360.00
-|£
11,742.13
500.00
-|
||||12,242.13
6,227.39|
|||||
||||6,014.74|
Page 1
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **MEDLOCK TRUST SCHOLARSHIP FUND**
|Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments – charges
Bank charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
19,958.34
862.50
20,820.84
11,700.00
-
-
75.00
-
1,750.00
1,278.00
14,803.00
6,017.84|**2021**|**2021**|
|---|---|---|---|
||£
11,700.00
-
-
75.00
-
1,750.00
1,278.00|£
16,900.00
-
-
225.00
-
1,750.00
575.00|£
18,764.26
862.50|
||||19,626.76
19,450.00|
|||||
||||176.76|
Page 2
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DORA STANLEY SCHOLARSHIP FUND**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments - charges
Custody fees
Charges and levies
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net(payments) /receipts for the year**|**2022**
£
£
8,937.72
1,383.49
10,321.21
11,700.00
-
50.00
-
1,250.00
1,212.00
14,212.00
(3,890.79)|**2021**|**2021**|
|---|---|---|---|
||£
11,700.00
-
50.00
-
1,250.00
1,212.00|£
9,100.00
-
200.00
347.84
1,250.00
660.00|£
8,253.85
1,717.87|
||||9,971.72
11,557.84|
|||||
||||(1,586.12)|
Page 3
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DORA STANLEY GENERAL FUND**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Support to the school
**Net (payments) for the year**|**2022**
£
£
5,303.54
13.85
5,317.39
-
-
5,317.39|**2021**|**2021**|
|---|---|---|---|
||£
-|£
25,598.00|£
4,819.87
61.38|
||||4,881.25
25,598.00|
|||||
||||(20,716.75)|
Page 4
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**DURHAM CASTLE SCHOLARSHIP TRUST**
Receipts
Dividends received (gross)
Interest received (gross)
Pay
me
nts
Scholarships
Investments - charges
Custody fees
Charges and levies
Legal fees
Clerks salary
_(allocation)_
Accountancy
_(allocation)_
**Net receipts for the year**|**2022**
£
£
5,973.20
312.50
6,285.70
-
-
50.00
-
-
500.00
606.00
1,156.00
5,129.70|**2021**|**2021**|
|---|---|---|---|
||£
-
-
50.00
-
-
500.00
606.00|£
-
-
200.00
208.73
-
500.00
365.00|£
4,919.08
312.50|
||||5,231.58
1,273.73|
|||||
||||3,957.85|
Page 5
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**CHARLES MCMAHON SCHOLARSHIP FUND**
Receipts
Donations received
Pay
me
nts
**Net receipts for the year**|**2022**
£
£
3,200.00
3,200.00
-
-
3,200.00|**2021**|**2021**|
|---|---|---|---|
||£
-|£
-
-|£
-|
||||-
-|
|||||
||||-|
Page 6
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**SUMMARY OF ALL RECEIPTS AND PAYMENTS ACCOUNTS**
Receipts:
Governors Account
_(including The Charter Lands Charity_
_account and the various prize funds)_
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total receipts**
Payments:
Governors Account
_(including The Charter Lands Charity_
_account and the various prize funds)_
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total payments**
**Net (payments)/ receipts for the year**|**2022**
£
£
13,097.59
20,820.84
10,321.21
5,317.39
6,285.70
3,200.00
59,042.73
6,605.12
14,803.00
14,212.00
-
1,156.00
-
36,776.12
22,266.61|**2021**|**2021**|
|---|---|---|---|
||£
6,605.12
14,803.00
14,212.00
-
1,156.00
-|£
6,227.39
19,450.00
11,557.84
25,598.00
1,273.73
-|£
12,242.13
19,626.76
9,971.72
4,881.25
5,231.58
-|
||||51,953.44
64,106.96|
|||||
||||(12,153.52)|
Page 7
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **STATEMENT OF ASSEST AND LIABILITIES AS AT 31 MARCH 2022**
|**STATEMENT OF ASSEST AND LIABILITIES**
**AS AT 31 MARCH 2022**||||||
|---|---|---|---|---|---|
|||**2022**||**2021**||
|||£|£|£|£|
|**Assets:**||||||
|**Investments:**||||||
|Investments at cost|_note 1_||951,514.00||951,514.00|
|_NB - some Medlock assets were donated so have no cost_||||||
|_Cash investments:_||||||
|Canaccord Income account|_note 2_||5,107.89||5,270.99|
|Canaccord Capital account|_note 2_||4,185.02||4,535.02|
||||960,806.91||961,320.01|
|**Bank accounts:**||||||
|NatWest - current account||100.00||100.00||
|NatWest - business reserve account||152,238.16||135,484.36||
|NatWest-current account-Medlock Scholarship Fund||30,894.62||24,868.71||
||||183,232.78||160,453.07|
|**NET ASSETS**|||1,144,039.69||1,121,773.08|
|_Note - in addition to the above, the charity also holds land including the_|||_library, the yard and surrounding buildings_|||
|_which are occupied by the school._||||||
|**Represented by:**||||||
|**Funds:**||||||
|Permanent endowment funds|_note 2_||224,323.92||224,904.66|
|Restricted funds|_note 2_||659,313.03||648,856.28|
|Unrestricted funds|_note 2_||260,402.74||248,012.14|
|**TOTAL FUNDS**|||1,144,039.69||1,121,773.08|
These receipts and payments accounts have been approved by the Trustees on 8 November 2022 and signed on their behalf by:
M Hammond - trustee
J R K Tryner - trustee
Page 8
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
|**1**|**Investments:**
Investments at cost|**202**
**2**
£
951,514.00|**202**
**1**
£
951,514.00|
|---|---|---|---|
_NB - some Medlock assets were donated so have no cost and are not included in the above total._
|Market value of investments|||||**202**
**2**
£
1,439,193.15|**202**
**2**
£
1,439,193.15||**202**
**1**
£
1,366,810.33|**202**
**1**
£
1,366,810.33||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||
|Governors Account
_The Charter Lands Charity account_
Various prize funds (note 3)
Medlock Trust Scholarship Fund
Medlock Trust Scholarship Fund -
donated investments
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund||**Cost at**
**01/04/2021**
£
223,514.09
in above
6,042.91
208,659.00
-
240,829.00
140,000.00
132,469.00
951,514.00||||**Additions**
**in the year**
£
-
-
-
-
-
-
-
-
-|||**Disposals**
**in the year**
£
-
-
-
-
-
-
-
-
-||**Cost at**
**31/03/2022**
£
223,514.09
in above
6,042.91
208,659.00
-
240,829.00
140,000.00
132,469.00
951,514.00|||**Valuation at**
**31/03/2022**
£
392,900.56
in above
in above
266,293.29
178,180.00
299,239.02
145,776.57
156,803.71
1,439,193.15||**Valuation at**
**31/03/2021**
£
376,261.24
in above
in above
242,543.15
197,470.00
271,712.34
133,947.47
144,876.13
1,366,810.33|
|||||||||||||||||1,366,810.33|
||||||||||||||||||
Page 9
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **2 Funds:**
**Unrestricted general funds** – are funds which can be used in accordance with the charitable objects at the discretion of the trustees. **Designated funds** – are funds set aside by trustees out of unrestricted funds for specific future purposes or projects. **Restricted funds** – are funds that 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.
|**Fund balances:**
Governors Account
_(including The Charter Lands charity)_
Prize funds (in total) (note 3)
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total funds:**||**Investments**
**(at cost)**
£
223,514.09
6,042.91
208,659.00
240,829.00
140,000.00
132,469.00
-
951,514.00|**Cash held at**
**Canaccord**
£
809.83
-
3,597.16
4,476.61
-
409.31
-
9,292.91|**Bank**
**account**
£
25,630.80
3,795.87
30,894.62
10,896.46
94,771.94
14,043.09
3,200.00
183,232.78|**Total as at**
**Total as at**
**31/03/2022**
**31/03/2021**
£
£
249,954.72
243,462.25
9,838.78
9,838.78
243,150.78
237,132.94
256,202.07
260,092.86
234,771.94
229,454.55
146,921.40
141,791.70
3,200.00
1,144,039.69
1,121,773.08|
|---|---|---|---|---|---|
Page 10
**BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **2 Funds: Continued**
|**Fund balances:**
Governors Account
_(including The Charter Lands charity)_
Prize funds (in total) (note 3)
Medlock Trust Scholarship Fund
Dora Stanley Scholarship Fund
Dora Stanley General Fund
Durham Castle Scholarship Fund
Charles McMahon Scholarship Fund
**Total funds:**||**Permanent**
**endowment**
£
224,323.92
-
-
-
-
-
-
224,323.92|**Restricted**
**funds**
£
-
9,838.78
243,150.78
256,202.07
-
146,921.40
3,200.00
659,313.03|**Unrestricted**
**funds**
£
25,630.80
-
-
-
234,771.94
-
-
260,402.74|**Total as at**
**Total as at**
**31/03/2022**
**31/03/2021**
£
£
249,954.72
243,462.25
9,838.78
9,838.78
243,150.78
237,132.94
256,202.07
260,092.86
234,771.94
229,454.55
146,921.40
141,791.70
3,200.00
1,144,039.69
1,121,773.08|
|---|---|---|---|---|---|
Medlock Trust Scholarship Fund - this fund provides funds for student scholarships.
Dora Stanley Scholarship Fund - this fund provides funds for student scholarships.
Durham Castle Scholarship Fund - this fund provides funds for student scholarships.
The Governors Account includes an element of permanent endowment which was used to establish the charity. The element of permanent endowment is included behind the investments held by the charity.
The various prize funds were set up in order to provide annual prizes for student meeting the appropriate prize fund criteria (a split of the prize funds in shown in note 3).
Page 11
## **BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2022**
## **3 Prize funds:**
The various prize fund balances are as follows:
|The various prize fund balances are as follows:|||||
|---|---|---|---|---|
|The Ushers Charity
The Frank Harrison Hill Exhibition
The William Scorer prize fund
The Arthur Hill Memorial prize fund
The Harmstone prize fund
The Lockwood Memorial prize fund
The Parkinson prize for modern languages
The Cyril Leslie Farrow cricket prize fund
The George Bagley Fund
The Gratton Mathematics prize fund
The Ashberry prize fund|Investments
at cost
31/03/2022
£
899.89
660.00
-
239.97
-
-
186.63
256.42
3,800.00
-
-
6,042.91|Bank
account
31/03/2022
£
-
508.12
88.52
178.77
909.31
44.45
289.45
383.93
1,272.50
13.10
107.72
3,795.87|Investments
at cost
31/03/2021
£
899.89
660.00
-
239.97
-
-
186.63
256.42
3,800.00
-
-
6,042.91|Bank
account
31/03/2021
£
-
508.12
88.52
178.77
909.31
44.45
289.45
383.93
1,272.50
13.10
107.72|
|||||3,795.87|
The various prize funds have been set up over a number of years and prizes are awarded annually as appropriate based on the criteria for each separate prize fund.
Page 12
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION**
## **Independent examiner's report to the trustees of Boston Grammar School Charitable Foundation**
I report to the charity trustees on my examination of the accounts of Boston Grammar School Charitable Foundation for the year ended 31 March 2022 which are set out on pages 1 to 12.
## **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 charity'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.
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.
Mrs N Lenton FCCA Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Dated: 28 November 2022
Page 13