## **Trustees' Annual Report for the period**
Period start date Period end date 01 April 2020 31 March 2021
**From**
**To**
## Section A Reference and administration details
**Charity name** Alvechurch Grammar School Endowment
**Other names charity is known by Registered charity number (if any)** 527440 **Charity's principal address** c/o 20 Willowbrook Road
Alvechurch Birmingham **Postcode B48 7PZ**
## **Names of the charity trustees who manage the charity**
**----- Start of picture text -----**
Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
1 JeremyTrafford Chair Majority of Trustees
Kay “
2
Cholmondeley
3 Sally Athey “
Rev, Robert “
4
Fieldson
Susan Lambert 01.04.2020 - “
5
20.10.2020
6 Julie Baxter “
7 Marc Worrall “
John Curtis 08.09.2020 – “
8
31.3.2021
Lynda Fawthrop 12.05.2020 – “
9
31.03.2021
Stephen Hornsby 05.01.2021 – “
10
31.03.2021
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
March **2012**
**TAR**
1
**Names of the trustees for the charity, if any, (for example, any custodian trustees)**
**Name Dates acted if not for whole year**
## **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**
Trust Deed Type of governing document
- (eg. trust deed, constitution)
Trust How the charity is constituted (eg. trust, association, company)
Appointed by the majority of the Board Trustee selection methods
- (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
March **2012**
**TAR**
2
## them.
## **Section C Objectives and activities**
**Summary of the objects of the charity set out in its governing document**
Promoting education of persons under the age of 25 years who are resident in or who have a parent resident in the area of benefit and who are in need of financial assistance.
To make grants to any voluntary organisation in the area of benefit, the objects of which include the promotion of education of improvement of the conditions of life for persons under the age of 25 years.
Grants are provided to individuals who meet the conditions as outlined in the objects of the charity.
In addition, Trustees make every effort to provide assistance to the community, by way of grants to voluntary organisations in the locality.
**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)**
The Trustees are mindful of the guidance provided by the Charity Commission regarding public benefit, and is reviewed annually when the report and accounts are presented at meeting.
March **2012**
**TAR**
3
## **Additional details of objectives and activities (Optional information)**
The Trust has an Investment Policy covering investment objectives: a medium risk strategy: liquidity requirements: ethical investing: management, reporting and monitoring. The Trustees have also adopted the MSCI Private Investor “Balanced” Total Return index as a suitable benchmark.
The Trust takes all concerns and complaints seriously as they provide an opportunity to improve and maintain the high You **may choose** to include standards it strives to achieve. To this end, in May 2021, the further statements, where Trustees re-approved a complaints policy. relevant, about:
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
March **2012**
**TAR**
4
## Section D Achievements and performance
**Summary of the main achievements of the charity during the year**
The Trust continues to provide assistance to individuals and organisations in the local community in line with the objects of the charity.
Trustees continue to control expenditure, and are pleased to report that more than 90% of income is available for grant distribution.
However, Trustees would prefer to see more grant applications, and have been working on a strategy to increase awareness of the Trust in the local community. This has included a comprehensive review of advertising and publicity, and improvements to the Trust website. These improvements are now complete, and have resulted in a 50% increase in the amount awarded to individuals this year compared to last year.
Trustees are pleased to report that the investment portfolio increased in value by 29.5% over the year. This compared with the MSCI benchmark increase of 22.5% over the same period.
## **Section E Financial review**
March **2012**
**TAR**
5
## **Brief statement of the charity’s policy on reserves**
Monies held on deposit at Lloyds Bank plc are considered to be endowment funds.
Trustees aim to maintain an average working balance of at least £15,000 throughout the financial year, taking cognisance of the variable grant applications that are made to the Trust.
**Details of any funds materially in deficit**
None
## **Further financial review details (Optional information)**
The principal source of funds is derived as investment income You **may choose** to include from the endowment fund, initially created in the early 1900’s. additional information, where relevant about: Expenditure is kept to a bare minimum, enabling 90 to 95% of the charity’s principal income to be available as grants sources of funds (including any The Trust has adopted a medium – risk strategy, which is fundraising); reviewed with the investment advisers every two years.
- 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)** Sue Moxon **Full name(s)** Jeremy Trafford **Position (eg Secretary,** Chair Clerk to the Trustees **Chair, etc) Date** 7 September 2021
March **2012**
**TAR**
6
## **ALVECHURCH GRAMMAR SCHOOL**
## **ENDOWMENT FUND**
**ACCOUNTS FOR YEAR ENDED 31st March 2021**
## **ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUN**
## **INCOME AND EXPENDITURE ACCOUNT**
## **Year to 31st March 2021**
|**Note**
**Income**
Investment income
**1**
Bank and other interest
**2**
**Expenditure**
Management and administration
**3**
**Funds available for distribution**
**Less: Grants payable**
**4**
Individuals
Organisations
**Operating surplus for the year**
**Gain/(loss) on investment assets**
Realised/Unrealised gain/(loss) on investments
**Net movement in funds**
**Balance brought forward as at 31 March 2020**
**Balance carried forward as at 31 March 2021**|**2021**
**£**
30,303.51
2.62|
|---|---|
||30,306.13|
||3,020.41|
||3,020.41|
||27,285.72
10,785.00
750.00|
||11,535.00|
||15,750.72
178,611.55|
||194,362.27
702,226.76|
||896,589.03|
**ND**
## **2020**
**£** 26,826.28 5.05 26,831.33 1,038.98 1,038.98 25,792.35 4,790.00 3,800.00 8,590.00 17,202.35 (146,726.58) (129,524.23) 831,750.99 702,226.76
## **ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUND**
## **NOTES TO THE ACCOUNTS**
## **Year to 31st March 2021**
|**1**
**Investment income**
Narrow range
Sundry
**2**
**Bank and other interest**
Bank interest
Stockbroker interest
**3**
**Management and administration**
Fund administration
Accountancy fee
Postage & Stationery
Sundries
Website costs
Advertising
**4**
**Grants payable**
Individuals
Organisations
**6**
**Investments**
Government Securities
UK Equities and Unit Trusts|**£**
30,303.51
-|**2021**
**£**
|**£**
26,826.28
-|**2020**
**£**
|
|---|---|---|---|---|
||2.62
-||
5.05
-||
|||30,303.51||26,826.28|
|||
||
|
||1,663.32
60.00
6.50
27.20
1,113.39
150.00||
826.66
70.00
7.32
-
135.00
-||
|||2.62||5.05|
|||
||
|
||10,785.00
750.00||
4,790.00
3,800.00||
|||3,020.41||1,038.98|
|||
||
|
||-
813,373.08||
-
625,583.89||
|||11,535.00||8,590.00|
|||
||
|
||||||
|||813,373.08||625,583.89|
## **ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUND**
## **BALANCE SHEET**
|**Note**
**Fixed Assets**
Investments
**6**
**Current Assets**
Short term deposits
Cash at bank and in hand
**Creditors :**
due within one year
**Net Current Assets**
**Net Assets**
**Represented by**
**Unrestricted funds**
Endowment fund|**at 31st March 2021**
**2021**
**£**
**£**
813,373.08
29,229.62
53,986.33
83,215.95
-
83,215.95
**896,589.03**
896,589.03
**896,589.03**|**£**
38,407.26
38,235.61
76,642.87
-|**2020**
**£**
625,583.89
76,642.87|
|---|---|---|---|
||||**702,226.76**|
||||702,226.76|
||||**702,226.76**|
## **INVESTMENTS**
## **Movement in Year to 31 March 2021**
|**Movement in Year to 31 March 2021**|||
|---|---|---|
||**2021**|**2020**|
||**Value**|**Value**|
||**£**|**£**|
|As at 1 April 2020|663,991.15|810,717.73|
|As at 31 March 2021|842,602.70|663,991.15|
|Movement being gain/(loss) on investments in yea 178,611.55||(146,726.58)|
|Transfer from Trust Fund to Investments in Year|-|-|
|Realised/(Unrealised Gains) - balancing fgure|178,611.55|(146,726.58)|
||178,611.55|(146,726.58)|
|**Value Split for Balance Sheet Purposes**|||
|Taken from EFG Valuation Details ( on page 5 of 21)|||
||**2021**|**2020**|
|Total Investment Value as above|842,602.70|663,991.15|
|Short Term Deposits - per Balance Sheet|||
|Deposit Account|25,326.15|31,485.84|
|Earnings Account|3,903.47|6,921.42|
||29,229.62|38,407.26|
|Investments - per Balance Sheet|813,373.08|625,583.89|
|Total Investment Value|842,602.70|663,991.15|
## **2019 Value £**
766,746.14 810,717.73
43,971.59
20,000.00 23,971.59 43,971.59
## **2019**
810,717.73
1,379.93 6,898.82 8,278.75 802,438.98 810,717.73
ALVECHiIRCH GRAMMAR SCHOOL ENDOWMEiif TRUST
Charity cCMiSsion R8J. No. 527440
Accourirs FOR THE YEAR ENDED 31.03.21
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