**Trustees' Annual Report for the period** Period start date Period end date 01 April 2022 31 March 2023
**From**
**To**
## Section A Reference and administration details
**Charity name** Alvechurch Grammar School Endowment **Other names charity is known by** Alvechurch Educational Trust **Registered charity number (if any)** 527440
Alvechurch Grammar School Endowment
**Charity's principal address** c/o 20 Willowbrook Road
Alvechurch Birmingham **Postcode B48 7PZ**
## **Names of the charity trustees who manage the charity**
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10|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||JeremyTrafford|Chair||Majorityof Trustees|
||KayCholmondeley|||“|
||SallyAthey|||“|
||Rev Gail Rogers||Appointed 10.5.22|“|
||Julie Baxter|||“|
||Marc Worrall|||“|
||John Curtis||Resigned 13.9.22|“|
||Lynda Fawthrop|||“|
||Stephen Hornsby|||“|
||Dawn Dearden||Appointed 3.1.23|“|
## **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)**
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March **2012**
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**Section B Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document
Trust Deed
- (eg. trust deed, constitution)
How the charity is constituted
Trust
- (eg. trust, association, company)
Trustee selection methods
Appointed by the majority of the Board
- (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**
**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/carer resident in the area of benefit or attend an educational establishment 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.
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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.
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.
**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)**
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.
You **may choose** to include further statements, where relevant, about:
The Trust has a Grants Policy which is reviewed annually and includes Financial Guidelines to ensure Awards are fair and consistent .
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
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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 85% of income is available for grant distribution.
In order to try and increase the number of applications, Trustees have been working on a strategy to improve awareness of the Trust in the local community. This has included improvements to the Trust website, the use of social media and a change of working name to Alvechurch Educational Trust. Contact has been made with local High Schools to promote the Trust and encourage applications.
The Trust attended a local community event – Picnic in the Park, to promote the Trust to a wider audience. Promotional leaflets were distributed to attendees.
Trustees are disappointed to report that, after two positive years, the investment portfolio has decreased in value by some 21% over the year. This compares with the MSCI benchmark decrease of 4% over the same period.
At the request of the Trustees, the Investment Manager attended a recent Trustees meeting to provide more background and an explanation to the performance. Trustees receive quarterly reports, but feel that there should be a more regular line of communication, and this is being put in place. The portfolio performance will continue to be monitored as a priority.
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## **Section E Financial review**
Monies held on deposit at Lloyds Bank plc are considered to be **Brief statement of the** endowment funds. **charity’s policy on reserves** 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** None **in deficit**
## **Further financial review details (Optional information)**
The principal source of funds is derived as investment income from the You **may choose** to include endowment fund, initially created in the early 1900’s. additional information, where relevant about:
Expenditure is kept to a bare minimum, enabling 85 to 90% of income to be available as grants
- the charity’s principal sources of funds (including any fundraising);
- The Trust has adopted a medium – risk strategy, which is reviewed with
- • how expenditure has the investment advisers every two years. supported the key objectives of the charity;
- investment policy and objectives including any ethical investment policy adopted.
## **Section F Other optional information**
The Trustees made a request to change the scheme and boundaries of the area of benefit, to allow applications to be welcomed from those attending educational establishments in the area and to include the whole of the Barnt Green Parish within the area of benefit.
These changes have been approved by the Charity Commission and adopted by the Trust.
## **Section G Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
|**Signature(s)**
**Full name(s)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**|||
|---|---|---|
||Jeremy Trafford|Sue Moxon|
||
Chair|Clerk to the Trustees|
||
12September 2023||
||
12September 2023||
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March **2012**
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## **ALVECHURCH GRAMMAR SCHOOL**
## **ENDOWMENT FUND**
## **ACCOUNTS FOR YEAR ENDED**
**31st March 2023**
ALVECHURCH GRAMMAR SCHOOL ENDOWMENT TRusr
Charity Commission Reg. No. 527440
ACCOUNTS FOR THE YEAR ENDED 31.03.23
In connettton wlth my examination of the alx)ve accounts, I duly state that
nothing has been found:
l. vthich gives me reasonable cause to believe that in any material
respect the requirements..
to keep sufficient accounting records; and
to prepare accounts which agree with the accounting
records
have not been met.. or
2. to whlch, in my opinion, attention should be drawn in order to
enable a proFer understanding of the accounts to be reached.
Signed
Date ai %.ao.I
Chrisb'ne H. Reilly
15, Hazelton Close,
Marfbrook,
Bromsgrove
Worcs B61 OJF