QUEEN ELIZABETH'S
GRAMMAR SCHOOL. ALFORD
FOUNDATION ACCOUNT
AND ASSOCIATED CHARITIES
FINANCIAL STATEMENrs
FOR THE YEAR ENDED
31ST MARCH 2024
Reglstered Charlty Number. 527603

Page I
QUEEN ELIZABETH'S GRAMMAR SCHOOL. ALFORD
FOUNDATION ACCOUNT AND ASSOCIATED CHARITIES
TRUSTEES AND ADVISORS
TRUSTEES:
Mr. S.W. e￿e. cha￿p￿sOn
Cllr. M￿. S. Devereux
. D. G. Jame5
Mr. D. Brown
Cur. Jvts. J. Bradley
CLERK TO THE TRUSTEES:
Mr. G. Alien
M&ws. 15nn Crfddie & Co
6 Hrgh Slreel
ALFORD
nc5
LN139DX
INDEPENDENT EXAMINER:
Mr. P. Sharpe FCA
Townends Accounlonts LLP
Chartere<Y Accounlon15
Carttsle Stre8t
GOOLE
Eosl Rldlng ol Y￿kShtre
DN145DX
BANKERS:
Lloyds Bank PIC
24 Mercer Row
L￿th
Llncoln5hire

Pw2
QUEEN ELIZABETH'S GRAMMAR SCHOOL
FOUNDATION AND RELATED CHARITIES
ANNUAL fiEPORT FOR THE YEAR ENDED 31ST MARCH 2(r24
THE 1988 SCHEME
The Charity called Queen Elizabeth'5 Grammor School and the a55ociated charity colled the
Prll&s Fund ore reguloted by a Scheme made by Ihe Chority Comm1$51on lor England and
Woles dated 8th Novomber 1988 ond Ckdets of Ihe Chorlty Comml&sion dale¢y 6th D&cember
1991 and 2 1st FeLyu¢Jry 2019. The Charfty 15 a registered Charity No. 527603.
THE CHARFTY TRUSYEE5
The Charlty Tw51ees Ihrovghovt the yeor lo 3151 Morch 2024 were:
Nomlnoled Trust8es.' Mts. S. Devereux app￿nted by East ￿nd$eY Dlslrid Councll lor o
four year lem of oflice from 15th November 2023., Mr.D. Brown oppoinled by the Lord
ol lh8 man￿ of Altord ond Well lor a tovr year lenn of offi'ce from 281h October 2022",
und Mr. S.W. Eyre appointed by Llncolnshtre County Councll fc¥ a four year term of
office from 5th June 2021.
2.2 C￿0p*O￿ Truslees.. th. D.G. Jomes for o fve yeor lenn fvom 1st Novembei ))22: Cllr.
Mrs. J. Bradley f(Y o Ilve yeor lenn from Isl November 2￿.
YHE CIIARITY OBJECTS
The oblecls of Ihe moin School Chorfly or8: to permlt d*noled land and bJllding5 lo be
used tor th8 purpose5 of Ihe School Wilhln the meanlng of Ihe Education Reform Acl 1988 as
omend8d,' lo manage an(J181 othef land and lyJlkllngs nol requked lor occupolbn by the
School.. lo defroy out of income ol the school Charfty tha cost ot mointolning the Sch¢)ol
Charlty propertl6s except expenses ot o klnd normolly dlschorged from the School's Budget
Share,. to apply income of the School Chority in tr loward5 provKling for the School such
speclal benefft5 of a klnd not n(ymolty E¥ovlded from ils Budgel Shore as the Trustees from
Ilme lo Ilme ogree wlth the Govefnors of Ihe 5cho(A andlor In yomolin9 the education of
persons under the oge 0125 yeot5 who are ￿ need of finonclal 055islance and who ore
altendlng or have atlended the Schcol.
On the 21 sl Felxuary 2019. ond vp)n the opplicolion of the Trustees. the Chgrity Commisslon
oidered the goveming documenl to be amendod In lerms to allow the Tru5tee51o grant o
le05e of property (port sile ol Ihe Schooll comk¥Nng wrl ol the permanent endowment ol
the charity lo a quolifylng Academy FYOFdelor fcx a term nol exceeding 125 years lo be held
on trust for Ihe purposes of on Acodemy wlthln the meoning of the Acodemie5 Act 2010.

Pogt 3
QUEEN ELIZABETH'S GRAMMAR SCHOOL
FOUNDATION AND RELATED CHARinES
ANNUAL REPORT FOR THE YEAR ENDED 375T MARCH 2024- continued
FOLINDATION ACCOUNT
During Ihe year. the main School choiivs Income was £36.714 renl recelpts.
4.2 Chofges and expenses fcf general odmlntstration tololed £826, c<xnFxising OCCOunthng fees ol
£540 ond insurance cosls of £286.
PRIZES FUND
The objec15 01 Ihe PrkLes Fund are to appty incom8 in awording rxlzes lo puplls ortending Ihe
Sehool Sn recognillon of thejr academic. i)rti51ic. creotive. mt>al or ph￿ICal achievemenl5.
5.2 During the yeor the Truslw account ol COIF Investments WO$ 5115pended p8ndlng the
complellon ol regulation ond compliance requifements.These occounls reflecl In Ihe
stotemenl ol a￿ets the volves ond oulslonding income due ol Ihe yeor end.
5J The c05h lunds in hond ol the end of the Itnonclal year were £3,995.72.
TRUSTEES STATEMENTS
Ihe Trustees conslder Ihol the Income ot the main School Charfty and os50claled charllles will
conllnue to be odeqvole lo deol wilh n(Ymol adminislralion costs ond lulffiment of the
Charfvs anlicipaled idenllfiatyle objec15 fcy th6 foreseeoble future.
Accvmulaled unexpended Income reserves in re5PeCt ol the moln Schoot Chcxlty and Ihe
Prtzes Fvnd continue to equate lo sevefal year5 nrymol expendllure on the School Chorily's
objec15 and tho Trusl8es consider thal o slgnlftcant proporlion of these resthe5 could b8
made available lo appolnl in or towords ony specbl prolecls wlhin the oblecls ol the School
Chorfty Schem8 wllhoul there being any maleriol effect on ts obl1￿ of the Trustees lo cory
oul thew usval dutles and funclions.
The Tru51ees contlm thot they have complied wilh Ihetr dufy to hove due regord to the
Charity Commission's public beneltl gu￿janCe when exerclsing ony powers or (Julth lo whlch
Ihe guldunce Is relevant
MR S.W. EYRE
Chalrper50n ol the Twstees

Poge 4
INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF
QUEEN ELIZABEtH'S GRAMMAR SCHOOL. ALFORD
FOR THE YEAR ENDED 31ST MARCH 2024
I report to the trustees on my examlnolion of the accounts of the Queer) El]zobelh's Grammar school
Charhy for Ihe year ended 31 sl Morch 2024. vthich are set out on poge5 5 - 9.
Reiponslbllltles and basls of report
As the charity trvslees of Ihe Charity you are responsible for Ihe preparation of the account5 In
accordonce wilh the requiremen15 of the Charitie5 Act 2011 I'lhe Acl'l.
I rep￿ Sn respect of my exomlnolion of the Truslee's occounls carried out under section l ￿ ol the
2011 Act and In carylng out my exominalion I have followed oll the applicable dlrections given by
Ihe Chority COMMIS￿On un(Jer section 14515llb) of the 3Jl l Act.
Independent ex¢mlnerf5 slalement
I hove completed my exomlnullon. I confifft) that no moterfal rnatter5 have come to my atlention In
connection wtth Ihe examinalKJn glving me cov5e lo believe Ihot In any moteriol respect:
accountlng recNds wwe not kept In respect of the Chorily os reqvke(I by secllon 13) ol the
ocl., or
Ihe accounts do nol occcrf wllh Iho$8 rec(xds.
121
I hov8 no concerns and have come across no olhef motters In connecllon wllh the exomlnatlon lo
whlch atlenlion should be drown In Ihls rewt In (xder to enable o ￿0per underslandlng ol the
accounts to be reached.
P SHARPE FCA
TOWNENDS ACCOUNTANTS LLP
CHARTERED ACCOUNTANTS
CARIISLE STREET. GOOLE
27

Pooo 5
QUEEN ELIZABETH'S GRAMMAR SCHOOL. ALFORD
PRIZES FUND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 ST MARCH 2024
21Y24
RECEIPTS
Dlvidend5 rec@tved.'
95655 C.O.l.F. income unils
TOTAL RECEIPTS FOR THE YEAR
PAYMENTS
NEf PAYMENT5 FOR THE YEAR
CASH FUNDS AT 31ST MARCH 2023
3.996
3,866
CASH FUNDS AT 315TMARCH 2024
3.996
3,996
Pleose see Nole 52 on Poge 3 with regard5 to the Dlvidend Income.

Poge 6
QUEEN ELIZABETH'S GRAMMAR SCHOOL, ALFORD
PRIZES FUND
STATEMENT OF ASSETS AND LIABIUIIES
AI 31ST MARCH 2024
2024
2023
RECEIVA3iE
DivSdenrJ receivoble
912
260
CASH IUNQS AT 31 MARCH 2024
Bank current occount
3.996
3.996
4,256
INVE5TMENf ASSETS
956.55 COIF Income units
The morkel value ol the Income vnils on 31 st Morch 2024. wa5 £19.544A)

Pog? 7
QUEEN ELIZABETH'S GRAMMAR SCHOOL. ALFORD
FOUNDATION ACCOUNT
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31ST MARCH 2024
2024
RECEIPTS
Rents rece￿e￿
Chorille5 official Investm&nl fund- income untls
Woyleaves
34.714
37.912
1,012
36.714
38,928
TOTAL RECEIPTS FOR THE YEAR
30.714
38,928
PAYMENTS
Accountancy
Insurance
286
290
(826)
17701
Spcclal benefits Iu school
TOTAL PAYMENTS FOR THE YEAR
(826)
(7701
NET RECEIPTS FOR THE YEAR
38.158
CASH FUNDS AT 31ST MARCH 2023
150,021
111,863
CASH FUNDS AT 37STMARCH 2024
185.901
150.021

Page 8
QUEEN ELIZABETH'S GRAMMAR SCHOOL ALFORD
FOUNDATION ACCOUNT
STAIEMENT OF ASSETS AND UABIUTIE5 AS AT 31ST MARCH 2024
21Y24
2023
CASH FUNDS AT 31STMARCH 2Q23
Bank Dep0511 Accovnl
Cash held In client occount by Cl
Cosh owed to Mnn Crfddl8
186.627
149.913
(718)
185.909
150.021
Deblors
Charflles officlal Inveslmenl lund - Income vnlts
7.140
3,064
193.049
153.
LIABILrriES
Accovnlancy fees
- 31103123
31103124
540
570
Clerks fee5
£5CLI x 6 yeors
£5￿ x 5 years
2.500
51r W L Traver5 Educolionol Ch￿lty re, expenses pord
on chodtle5 beholl
Accovntoncy IYIE 3110313)1
456
4,050
3.496
INVESTMENT ASSErs
LAND AND BUILDINGS
CJJeen Ellzobelh's Grammur Schoot and Ihe Headmostefs Hou5& are occvpled by ond for the
exclusive vse of the School. The School Form. Forfeslhorpe is o tenanted property generallng
rental income to the School Ch(thty.
7,481.80 COIF INCOME UNITS
The rna￿et value of Ihe income unils on 3151 Morch 2024 was £152.872.63
MR S.W. EYRE
Dat?:
For ond on behall of the Trustees

Page 9
QUEEN ELIZABETH'S GRAMMAR SCHOOL, ALFORD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 21r24
ACCOUNTIKG POUCIES
The accovnts have been F¥e￿ed on the recelpts ond payments bosts in ac¢¢Ndanco ¥Mlh
the Stalemenl ol Recommended Practi￿. Accountlng by Chad￿e$.
The accounts are inclusive of VAT.