2023-03-31-accounts - Boston Grammar School Charitable Foundation

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Trustees' Annual Report for the period

Period start date Period end date 01 04 2022 31 03 2023

From

Section A Reference and administration details

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

Boston Grammar School Charitable Foundation

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 (ifany)
Martin Griggs		Boston Borough Council (BBC)
Katherine Bunting		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
Ian Moore		Co-opted
Stephen Woodliffe		BBC
Sarah Fitzgerald		BBC
Anne Dorrian		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

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	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

(eg. trust deed, constitution)

How the charity is constituted

Trust

Scheme dated 24th Nov. 2010

(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 £31,000 Summary of the main Music tuition contribution £1,050 achievements of the charity Minibus support £2,500 during the year School Hardship Fund £3,000 Contribution to maintenance of historic school library £4,885 Student prizes £1,117

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 20th November 2023

TAR

March 2012

REGISTERED CHARITY NUMBER.. 527291 BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION YEAR ENDED 31 MARCH 2023 CONTENTS Governors Account (including The ChorterLunds Chority occount ond the vtsrious prizefund5J Medlock Trust Scholarship Fund Dora Stanley Scholarship Fund Dora Stanley General Fund Cross Scholarship Fund Charles Mcmahon Scholarship Fund Summary of all receipts and payments accounts Statefflent of assets and liabilltles Note5 to the receipt and payments account 9t013 Independent examlners report 14

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS ANO PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 GOVERNORS ACCOUNT Iln¢luding The Charter Lands Charlty and the various prlze fund51 2023 2022 Dividends recelved Igrossl Interest received Igrossl Canaccord cash account interest received Igrossl Wayleave 12,803.39 500.00 12,590.69 500.00 128.98 6.90 13,439.27 13.097.59 Pa Hardship fund Mlnibus contribution 3,000.00 2,5QO.00 1.050.90 2.000.00 1.136.36 Music tuition Stain gla55 window Prize giving Letturer of Boston Insurance 4.885.00 1,117.00 249.96 249.96 654.80 672.57 Custody fees Charges and levie5 Clerks 531ary Independent examiners fee Accountancy 200.00 200.00 1,827.23 I,soo.00 420.00 follocotion) 1,500.00 360.00 504.00 lollocationj 554.00 17,976.66 6,605.12 Net Ipaymentsllreceipts fr>r the yèar 14,537.391 6,492.47 Page I

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 MEDLOCKTRUSTSCHOLARSHIP FUND 2023 2022 Recei Dlvidend5 received Igrossl Interest received Igrossl 20,454.03 862.50 19,958.34 862.50 21,316.53 20,820.84 ments Scholarships Custody fees Bank safe custody fee Charges and levies Clerks salary Accovntancy 18,000.00 I1,7.00 so.00 25.00 25.00 {ollocotion) (tsllocotionj 1,750.00 1,406.00 1,750.00 1,278.00 21,181.00 14,803.00 Net receipts for the year 135.53 6,017.84 Page 2

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS ANO PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 DORA STANLEY SCHOLARSHIP FUND 2023 2022 Recei Dividends received (gros51 Interest received Igr0551 Canaccord cash account interest received Igrossl 8,836.36 1,431.60 8,937.72 1,383.49 123.59 10.391.55 10.321.21 Pa ments Scholarships Custody fee5 Charges and levies Clerks salary Accountancy 12,orKI.oo 11,700.00 50. 3,012.12 1,250.00 1.333.00 (olloct7tion? (tsllocationj 1,250.00 1,212.00 17.595.12 14,212.00 Net Ipaymentsl for the year 17,203.571 13,890.791 Page 3

B05TON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 DORA STANLEY GENERAL FUND 2023 2022 Rec Divldends received (gross) Interest received Igr0551 Canaccord cash account interest received Igrossl 5075.84 5.303.54 13.85 635.48 206.01 5,917.33 5,317.39 ments Charges and levie5 1,177.27 1.177.27 Net receipts for the year 4,740.06 5,317.39 Page 4

BOSTON GRAMMAR SCHOOL CHARifA8LE FOUNOATION RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 CROSS SCHOLARSHIP TRUST 2023 2022 Recei Oividends received18rossl Interest reeeived Igrossl Canaccord cash account interest received Igrossl 5.636.85 312.50 5.973.20 312.50 6.29 5,955.64 6.285.70 ments Scholarships Custody fees Charge5 and levies Clerks salary (ollocationj Accountancy lollocationj 50.00 1,037.54 5fKI.I 500.00 667.00 606.00 2.204.54 1,156.00 Net re¢eipt5 for the year 3,751.10 5,129.70 Page 5

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENT5 ACCOUNTS YEAR ENDED 31 MARCH 2023 CHARLES MCMAHON SCHOLARSHIP FUND 2023 2022 Recei Donations received 3,200.00 3.200.00 ments Scholarships I,ocxJ.c I,000.¢ Net Ipaymentsllreceipts for the year 3.200.CKJ 11,000.001 Page 6

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 SUMMARY OF ALL RECEIPTS AND PAYMENTS ACCOUNTS 2023 2022 Recei Governors Account 13,439.27 13,097.59 (including The Churter Londs Chorlty t7c¢ount tsnd the various prizefvndsj Medlock Trust Scholarship Fund Dora Stanley Scholarship Fund Dora Stanley General Fund Cro55 scholarship Fund Charles Mcmahon Scholarship Fund 21,316.53 10,391.55 5,917.33 5,955.64 20.820.84 10,321.21 5.317.39 6,285.70 3,200.00 Total recelpts 57,020.32 59,042.73 Pa ments.. Governors Account 17.976.66 6,605.12 (including The ChorterLand5 Chority tJc¢ount and the vurious prizefunds) Medlock Trust Scholarship Fund Dora Stanley Scholarship Fund Dora Stanley General Fvnd Cross Scholarshlp Fund Charles Mcmahon Scholarship Fund 21,181.00 17.595.12 1,177.27 2,204.54 I,ryx).00 14,803.00 14,212.00 1.156.00 Total payments 61,134.59 36,776.12 Nèt Ipaymentsllrecelpts for ihe year 14.114.271 22.266.61 For overall reconciliation of movèment of funds sèe note 5. Page 7

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION STATEMENT OF A5SEST AND UA8ILITIES AS AT 31 MARCH 2023 2023 2022 A55ets'. Investments.. Investments at tost NB - some Adedlock ossets were donated so hove no cost note I 1.013,959.00 951.514.00 Cosh inv Canaccord Income account note 2 7.220.52 40,132.48 5,107.89 4,185.02 Canaccord Capital account note 2 1,061,312.00 960,806.91 anka unts.. NatWest- curTent account 100.00 loo. NatWest- business reserve account Natwest-current account-medlock Scholarship Fund 153,432.61 30,462.51 152,238.16 30,894.62 183,995.12 183,232.78 NET ASSETS 1,245,307.12 1,144,039.69 Note- in oddition to the obove. the chority ulso holds lund includiftg the librory, the yord ond surrounding bulldings which ore occupied by the school. Rèpresented by: Funds.. Permanent endowment funds Restricted funds note 2 300,919.25 692,352.43 252,035.44 224,323.92 659,313.03 260.402.74 note 2 Unrestricted fund5 note 2 TOTAL FUNDS 1,245,307.12 1,144.039.69 These receipts and payments accounts have been approved by the Trustee5 on Ilth July 2023 and signed on thelr behalf by.. mmond - trustee J RTh Tryner- trustee Page 8

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 2023 2022 I Investments: Investments at cost 13 NB- some Medlock ossets were dont7tedso have no cost ond ure not included in the above totol. 2022 Market value of investments 1 273 926.6 1439 193.15 Cost at Additlons Dis osals Cost at Valuatlon at Valuation at oi In the In the 31 03 202 31 03 31 03 2022 Governors Account 223,514.09 in above 144,425.00 181,213.001 286,726.09 in above 341,227.80 392,900.56 in above The Chorter Londs Chority ottount Various prize funds (note 31 Medlock Trust Scholarship Fund Medlock Trust Scholarship Fund- donated investments in above 6,042.91 208.659.00 6,042.91 208.659.tsJ in above in above 251.142.41 266,293.29 157,270.00 267.237.56 112,333.73 144,715.10 178,180.00 299,239.02 145.776.57 156,803.71 Dora Stanley Scholarship Fun¢J Dora Stanley General Fund Cross Scholarship Fund 240.829.00 140,000.00 132.469.00 172.120.00 115.499.00 46,359.00 1153,209.(X)I 1140.000.(M)I 141.536.001 259.740.¢X) 115,499. 137.292.LXI 951,514.00 478,403.00 1415,958.(K) 1,013,959.(X) 1,273,926.60 1.439.193.15 Pa8e 9

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 2 Funds: Unrestricted gentral 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 Pufposes or projects. Restrirted funds- are lunds that can only be used for particular restricted purposes within the object5 of the charity- Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose5. Fu balances: Investments lat costl Cash held at Canactord Bank account Totzl as at 3110312023 Total a5 at 3110312022 Governors Account 286,726.09 14,193.16 22.124.52 323.043.77 249,954.72 (including The Chorter Lands chority) Prize funds lin totall (note 31 Medlock Trust kholarship Fund Dora Stanley Scholarship Fund Dora Stanley General Fund Cross Scholarship Fund Charles Mcmahon Scholarship Fund 6.042.91 208,659.(N) 259,740.00 115,499.00 137,292.00 3,646.87 30,462.51 11,339.96 95.407.42 18.813.84 2,200.00 9,689.78 243,286.31 279.817.47 230.059.92 157.209.87 2,2.00 9,838.78 243,150.78 256.202.07 234.771.94 146,921.40 3,2W.00 4.164.80 8,737.51 19,153.50 1.104.03 Total funds: 1,013.959.00 47.353.IX) 183,995.12 1,245,307.12 1,144,039.69 Page 10

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 2 Funds: Continued nd balances.. Permanent endowment Restrictèd funds Unrestrirted funds Total as at 3110312023 Total as at 3110312022 Governors Account (including The Churter lunds chorityj Prize funds lin totall (note 31 Medlock Trust scholarship Fund Dora Stanley kholarshlp Fund Dora Stanley General Fund Cr055 Scholarship Fund Charles Mcmahon Scholarship Fund 300,919.25 22.124.52 323.043.77 249,954.72 9,689.78 243,286.31 279.817.47 9,689.78 243,286.31 279.817.47 230,059.92 157,209.87 2,200.00 9,838.78 243,150.78 256,202.07 234.771.94 146,921.40 3.200. 230.059.92 157,209.87 2,200.00 Total funds: 300,919.25 692,203.43 252,184.44 1.245,307.12 1.144,039.69 Medlock Trust Scholarship Fund- this fund provides funds for student scholarships. Dora Stanley Scholarship Fund this fund provides funds for student scholarship5. Cross Scholarship Fund this fund provides funds for Student scholarships. Charles Mcmahon Scholarship Fund- this fund provides fund5 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 tjp in order to Pfovide annual prizes for student meeting the appropriate priie fund Crlteria la spllt of the prize funds in shown in note 31. Page 11

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 3 Pri2e funds: The various prize fund balances are as follows: Investment5 at cost 3110312023 8ank account 3110312023 Investment5 at cost 3110312022 Bank account 3110312022 The Ushers Charity The Frank Harrison Hill Exhibition The William Scorer prize fund The Arthur Hill Memorial prize fund The Harm5tone prize fund The Lockwood Memorial prlze fund The Parkin50n prize for modern languages The Cyril Leslie Farrow ¢riEket prize lund The George Bagley Fund The Gratton Mathemètlcs prize fund The A5hberry prize fund 899.89 899.89 660.00 458.12 660. 508.12 88.52 88.52 239.97 178.77 239.97 178.77 909.31 909.31 44.45 44.45 186.63 289.45 186.63 289.45 256.42 359.93 256.42 383.93 3.800.00 1,197.50 13.10 3.8CX).00 1,272.50 13.10 107.72 107.72 6.042.91 3,646.87 6,042.91 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. During the year payments were made for prizes relating to the 2020 and 2021 prize giving. The 2020 prize giving payment5 were from the Farrow fund IE121 and the Bagley fund1£751. The 2021 prize giving payments were Irom the Hill fvnd1£501 and the Farrow fund IE121. 4 Change of Fund namè: During the year at a meeting of the Trustees it wa5 confirmed that the name of the fund formerly known as the Durham Castle Scholarship Fund be changed to Cross Scholarship FLtnd. Page 12

BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 MARCH 2023 5 Reconciliation of m ement of fund 2023 2022 Movement ot funds.. Total Fund5 a5 at 31 March 2023 Total Funds as at l April 2022 Increase in funds 1,245,307.12 1.144,039.69 101.267.43 1,144.039.69 1.121,773.08 22,266.61 Represented by.. Net Ipaymentsllreceipt5 for the year Ipage 71 Profit on the sale of Canaccord Investments Inote A below) Rounding difference on cost of investment addition5 (note 8 belowl 14,114.271 105,381.59 o.il 22,266.61 101,267.43 22,266.61 Note A- Profit on sale of Canaccord Investments: Gross proceeds C05t of ProfrtllLossl of Investment5 sold Investments sold Ipage 91 on sale of Investments Govemor5 Atcount Dora Stanley Scholarship Fund Dora Stanley General Fund Cross Scholarship Fund 158,689.99 179,198.88 135,377.63 48.073.09 521,339.59 81.213.00 153.209.00 140,000.00 41.536.00 415.958.(X) 77,476.99 25.989.88 14,622.371 6,537.09 105,381.59 Note 8- Rounding difference The rounding difference occurs as cost of addltions of investments are shown on page 9 in round pounds. Page 13

INDEPENDENT EXAMINERS REPORTTOTHETRUSTEESOF BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION Indèpendent emamlner's rèport to the trustees of Boston Grammar School Charitable Foundation I report to the charity trustees QA my examination of the accounts of 805ton Grammar School Charitable Foundation for the yeai ended 31 March 2023 which are set out on pages I to 13. RÈsponsibilltles and basls of report As the charity trustees of the Trust you are responsible for thè preparatlon of the accounts In accordance wlth the TequiTement5 of the Charities Act 2011 l*he Act'l. 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 examlnation I have followed all applicable Dlrections given by the Charity Commission under section 14515llbl 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 rne cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act.. or 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. Mr5 N Lenton FCCA Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE216NA Dated.. Page 14

REGISTERED CHARITY NUMBER.. 527291 BOSTON GRAMMAR SCHOOL CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023