2024-03-31-accounts - Alvechurch Educational Trust

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	Trustees' Annual Report	Trustees' Annual Report	Trustees' Annual Report	Trustees' Annual Report	Trustees' Annual Report	for theperiod	for theperiod	for theperiod
	From	Period start date			To	Period end date
		01	April	2023		31	March	2024

Section A Reference and administration details

Charity name Alvechurch Grammar School Endowment

Other names charity is known by Registered charity number (if any) 527440

Alvechurch Educational Trust

Charity's principal address c/o 20 Willowbrook Road

Alvechurch Birmingham Postcode B48 7PZ

Names of the charity trustees who manage the charity

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			“
Rachel Reed		Appointed 7.9.2023	“
Rev Gail Rogers			“
Julie Baxter		Resigned 16.5.2023	“
Marc Worrall			“
Lisa Rees		Appointed 9.1.2024	“
Lynda Fawthrop			“
Stephen Hornsby			“
Dawn Dearden			“

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 Address




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

Section B Structure, governance and management

March 2012

TAR

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 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.

March 2012

TAR

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.

March 2012

TAR

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.

In order to try and increase the number of applications, the Trust has been working with the foodbank serving the local community as well as the local High Schools and Primary Schools to promote the Trust and encourage applications.

Promotional leaflets have been distributed to schools and other venues in the community.

Trustees have raised concerns about the management and performance of the Investment Portfolio. The portfolio performance will continue to be monitored as a priority. An approach has been made to another Investment Management company to ask them to present options to Trustees.

March 2012

TAR

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)

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;

The principal source of funds is derived as investment income from the endowment fund, initially created in the early 1900’s.

Expenditure is kept to a bare minimum, enabling 85 to 90% of income to be available as grants

The Trust has adopted a medium – risk strategy, which is reviewed with the investment advisers every two years.

investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

The changes to the scheme to allow applications from young people who attend educational establishments in the catchment area, which were approved by the Charity Commission, have resulted in an increase in the number of applications received.

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, Chair Clerk to the Trustees etc) Date 23 October 2024

March 2012

TAR

ALVECHURCH GRAMMAR SCHOOL

ENDOWMENT FUND

ACCOUNTS FOR YEAR ENDED

31st March 2024

ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUND

INCOME AND EXPENDITURE ACCOUNT

Year to 31st March 2024

Note Income Investment income 1 " - Prior Year Adjustment Bank and other interest 2 Expenditure Management and administration 3 Funds available for distribution Less: Grants payable 4 Individuals Organisations Grant refunded from previous year 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 2023 Balance carried forward as at 31 March 2024	2024 £ 28,847.16 107.88 28,955.04 4,531.06 4,531.06 24,423.98 14,301.48 11,000.00 25,301.48 (877.50) (43,306.38) (44,183.88) 764,747.57 720,563.69	2023 £ 30,384.48 840.00 19.19
		31,243.67
		3,843.65
		3,843.65
		27,400.02 19,990.43 592.00
		20,582.43
		6,817.59 (200,303.29)
		(193,485.70) 958,233.27
		764,747.57

ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUND

NOTES TO THE ACCOUNTS

Year to 31st March 2024

£ 28,847.16 -	2024 £	£ 30,384.48 -	2023 £
107.88 -		19.19 -
	28,847.16		30,384.48

4,000.00 100.00 - 16.00 351.57 63.49		3,666.66 75.00 101.99
	107.88		19.19

14,301.48 11,000.00		19,990.43 592.00
	4,531.06		3,843.65

- 669,424.69		- 714,174.93
	25,301.48		20,582.43


	669,424.69		714,174.93

ALVECHURCH GRAMMAR SCHOOL ENDOWMENT FUND

BALANCE SHEET

at 31st March 2024 Note 2024 £ £ Fixed Assets Investments 6 669,424.69 Current Assets Short term deposits 10,067.61 Cash at bank and in hand 41,071.39 51,139.00 Creditors : due within one year - Net Current Assets 51,139.00 Net Assets 720,563.69 Represented by Unrestricted funds Endowment fund 720,563.69 720,563.69 Difference 0.00 Note 2024 2,383.78 Deposit A/c with EFGHA 7,683.83 Dividend A/c with EFGHA 10,067.61	£ 8,623.75 41,948.89 50,572.64 -	2023 £ 714,174.93 50,572.64
		764,747.57
		764,747.57
		764,747.57
		0.00

INVESTMENTS

Movement in Year to 31 March 2024

Movement in Year to 31 March 2024
	2024	2023
	Value	Value
	£	£
As at 1 April 2023	722,798.68	923,101.97
As at 31 March 2024	679,492.30	722,798.68
Movement being gain/(loss) on investments in year	(43,306.38)	(200,303.29)
Transfer from Trust Fund to Investments in Year		Nil
Realised/(Unrealised Gains) - balancing figure	(43,306.38)	(200,303.29)
	(43,306.38)	(200,303.29)
Value Split for Balance Sheet Purposes
Taken from EFG Valuation Details ( on page 5 of 21)
	2024	2023
Total Investment Value as above	679,492.30	722,798.68
Short Term Deposits - per Balance Sheet
Deposit Account	2,383.78	1,601.19
Earnings Account	7,683.83	7,022.56
	10,067.61	8,623.75
Investments - per Balance Sheet	669,424.69	714,174.93
Total Investment Value	679,492.30	722,798.68
680656.88
-679492.30
1164.58

ALVECHURCH GRAMMAR SCHOOL ENDOWP4Eiif TRUST Charity Commisgon Reg. No. 527440 Accouirrs FOR THE YEAR ENDED 31.03.24 In conneckn wlth my eamlnatlon of the aLe ac¢oLmts, I duty state th nothlng has tr£en foL. l. gfvBS rpawnable cau to Wve that In any fflatetsl to sufficient thun11rvj record5; afKI 2. to vthlch, In ffly oplnlon, attentron te drawn in order to enaNe a uTrJwTrJityJ ofthe nts kn be read)&l. io.aoa4- ChrIne H. Rellty marfbrk, Worcs B61 OJF