REGISTERED CHARITY NUMBER: 528750 TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION Prime Chartered Accountsnts Comer Oak 1 Homer Road Solihull B913QG
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION CONTENTS OF THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2025 Reforence and Admlnlstratlvo Detalls Trustees, R•port 2 to 4 Independenl Examlnetrs Report Stal•ment of Flnanclal ktivftles Balance Sheet Not•$ to th• Flnanclal Stat•m•nts 8 10 12 Detalled Statgmgnt of Flnancial AdivltiOS 13 to 14
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES Lord AYIesfd (Chairman) - cov0p1 Mrs S Wallxe- Copted Dr A Walkins - Co•OPted Mr C Page - Coth¢)Pted Dr C Hayfield - North Warwickshire Borough Council Mr B Henry - Coleshill Town Council Mr E W Digby- Heir at Law ot the Dw3by Estate Mr J Currin - RepresentalNe of th8 Digby Estate Mrs E Jones - Warwickshire County Ctyjncil Mrs C Symonds - North Warwid(shire Borough Council Mr D Humphreys - wankShire County Council Mr P Symonds- Coleshill Town Council PRINCIPAL ADDRESS Barkerfs Piece t)c•3 Lane Nether Whita¢re Bmingham B46 2DT REGISTERED CHARITY NUMBER 528750 INDEPENDENT EXAhllNER Prime Chartered Accountants Comer Oak 1 Homer Road Solihull B913QG Page 1
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their ret wth the finarKial statements of the Char for the year ended 31 March 2025. The trustees have &lopled the provisions of Accountsng and Reporting by Charits'es.. Statement ol Recommended Pracb"¢e aP"¢able to tharbties preparing their accounts in accordance with the Financial Reporting Standard aPpIable the UK Republ ol Ireland (FRS 1021 (elléctive 1 January 20191. OBJECTIVES AND ACTivrriES Objectlves and alms The objects of the charity a as follows.- 1) The charity exists to provKle educational grats for the provtsN)n of special benefits of any kn'nd not normalty provided for by the local edUGatI autknty for Cwnty or vntsry in the rural of Meriden. 21 Provision of other educational beneffts the way of scholarships. tryjrsaries. or maintenance alk)wance', assistance to prepare for. or to enter a professton. Ir or callg.. to travel abroad in the pursuit of education or lo study musi¢ or other ts. ProviOn of fxilitEs for recreatson and social and physical trainiNJ'. financial assistance to any charitable voluntary Organisati in or near the rural distn'¢t of Meriden. The beneficiaries above shall be persons under the age of 25 who. in the OFIn of the govemors. are In r)eed of financial assistance. with a preference (other thirys being equd) for such persons who are resident in the pansh of Coleshill. Publlc benefit The Iruslees confirm that they have referred to the guthnce tsied in the Charity Commission's general guidance on pubfic benefft when reviewing the charitys aims and objectives and eonfim that they have complied wlh their duties under the Charities Act 2011. Grantmaklng The Foundation invites applications from indrviduals and organisations who fall wthin the criteria detailed above in paragraph 2 of Objectives and Aims. apicaln is considered by the Board of Governors at their next meets"ng. All application5 are consKlered on their own meril. There are no upper or lower funding limits set on the grant applications. The Foundation aims to support those Wl¥ldua1s, schools and organisations who are deemed lo be in need of financial support. The Governors use their discretson to determine those in need of financial support based on the information contained in the appkalion form. The Foundation does not constder applications for accommodation or living expenses. Where an appIallOn is reVed for a unrform grant. the clerk has devolved responsibility from the board to award grants for uniforms up to a maximum of £75. These grants are fomialty ratified at a gjbsequent governors meeting. Grant apFAtiOn forms are availabte from: Clet to the Govemors, Barkerfs Piece Dog Lane, Birningham B46 2JA Email.. casamia9@acl.com Tel.. 01675 467464 PJe 2
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENT AND PERFORMANCE Charltable actlvltles A number of 41 applications &ross all schools were aFproved in the finarKial year, with over £130k fvnding approved. these were a'mixed bag. of school projects varying from curriculum resour arsd ICT. to outdoor & physical initiatives (Forest school. Feace garden. animal care. PE. trampo11rl. In a(Jdib"on, there were a number of applications appnjved for indivKluals and the All Stars Cheerteading troop (Florida compelitionl- During the year, Trustees 4reed to the sale of 256f256a Chester Ro&J. f(Al1ng an offer from an interested paty who already owned part of the building. Pennycuick Collins continue to manage the Property FQrtfdio on behalf of the Trustees, but are ¢urrendy undergoing some management changes 10 split the commercial & residenlval phxtfolios. Finalty. but nolable, the Trustees have nv)ved to online banking la necessary move in order lo transfer funds from the current account to Sarasin. due lo thr anli-money laundering policies they were unable to a¢pt a cheque as they had done in prevK>US ws). but so far. for all parts. this is an improved way of operating. Inveslment perforniance The portfolio retumed 7.6 % (2024: 7.5%) over the year The income from investments was 18.6% higher (2023." 4% hher} than the Fffevious year. and remained close lo the target level sel by the Tntstees. The [urCManCe of the fund is monitored on a regular basis by a sub-committee of Iruslges. FINANCIAL REVIEW Flnanclal position The results for the year are shown in the Statement of Financial ActivrtEs for the year ended 31 Mah 2025. The net def1t for the year amounted to £10.84012024.. £32,014) before investment gains. The overall nel income for the year taking into Unt realised and unrealtsed gains on investments amounted to £2.440 12024.. £31,889). Irveslment policy arbd objoctivos The charity's grant making is entirely dependent upon its income from its endowments comprising various hohjings of property and from its portfolio of stocs and shares. securitS and investmenl fund unf(s. The property holdings are managed by Ihe trustees. who take appropriate professional advice. The investment p)rtfolio is managed by external fund marbagers orn a discrets)nary basis to achieve a balanced return from income capilaj growth by accepting a mrAlerate level of risk. Reserves pollcy The trustees consider tt prudent to maaIn reserves within the range £30.000 to £50.000 in order to cover any shortfall in income. unexpected l unbudgeled costs and any lar9e deservin9 applKalions which may be received in the future. STRUCTURE. GOVERNANCE AND MANAGEMENT Govarning document The charty was originalty founded in 1883 and 1$ rthv govemed by a Charity Commissh)n scheme dated 11 Juty 19S8, as varied by a scheme dated 13 Juty 1971. The is an unincorkX)rated charity. Page 3
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND IAANAGEMENT Ro¢ruitmont and appolnlmenl ol new truslees The body of Govemors of the Foundatson. who are the trustees for the purpose of tharity law, consists".- &ght representative Govemors, to b8 appointed.. Two by the heir at law of Sir Robert Digby. owner of the Manor of Coleshill in the year 1612. Two by Wamckshire County CourKil. Two by the North Warwickshire Bcyough C(wnol. Two by the Coleshill Town COU1. Four co-optative Govemors, to be apwnbj by resolution of Ihe G0vem. The representslive goverrS serve for a 013 yews. ar the Co-opts 9)veMS $eThe for a period of 5 years. Organisational structur• The trustees nomalty meet 3 times a ypar to ¢onshJer granl appIt*)n$ and a$ and when appropriate the broad strategy and area of activty for the charity. I111ng investments. reserves and risk management policies and pèrfomance. The day lo day adminBtrath)n of grants and the processirg of apPIal)nS prior to considerats'on by the Trustees are delegated to the Clerk. Inductlon and Iralnlng of new trustsos The induction prc¢ess for any nY apFonted trustee comprtses an initial meeting with the Board of TTuslees, at which a pack is pr¢)vided. This includes a o)py of the governing document, a copy of the most recent annual report and accounts. copy minutes of prevK)us trvslees. meetings and a o)py of the Cha Commission guidance 'The Essential Trustee.. IL th.£........... and spjned on its behalfby.. Approved by order of the board of trustees C ................. LeJ( Lord Ayi9sfo aimanj - Tntee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION Indopendont examin•rfs r•port lo th• trusts of Coleshill Grammar School Endowm•nt Foundatlon I report to the charty trustees on my examination of the acC(nts of Coleshill Grammar School Endowment Foundation (the Trus1} for the year ended 31 March 2025. Re$pon$lbllitio$ and basls of rnport As the charity trustee5 Of the Trust you are respsIble for the preParan of the aCcnts in accordance vthh the requirements of the Charibes Act 20111'the Acfl. I report in respect of my examinatson of the Trusfs accounts carried out under Section 145 of the Acl and in carrying out my examinakn I have followed 1 applcable DIrectnS given by the Charity Commission under Section 145151{bl of the Act. Ind•p•ndont examlnerfs stalement I have completed my examination. I confirm that Th) malenal matters have come to my attention in connection with the eXaminatn giving rrE cause to beUeve that m any matersal respect: accountiThJ records were not kept resrd of the Trust as required by Section 130 of the Act; or the accounts do not aword wth those records., or Ihe accounts do not comply th ihe appIae requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Rerts) Regulations 2008 other than any requirement that the accounts give a true and fair VEW which is nol a matter considered as part of an indepondent examination. I have no ¢on¢ems and have wrrE across olher matters in connedion Vth the examina to which attention should be drawn in this report in order to en8t4e a proper understanding of the accounts to be reached. Paul GuiseACA Prime Chartered Accountants Comer Oak 1 Homer Road Solihull B913aG Date= . Page 5
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds unf0strd Endovmient fund fund INCOME AND ENOOWMENTS FRO Investment income 189.188 189,188 159.472 EXPENDITURE ON Ralslng funds Investment management costs 31,480 31,480 16.652 31.480 31.480 16,652 Charltable acllvltiOS Grants Paid 144.009 144,009 166.555 Olher 24.538 8.280 Total 200,027 200.027 191,487 Net gainsl(lossesl on investrnents 1105,6681 118.947 13.279 63.903 NET INCOMEI(EXPENDITURE) 1116,5071 118,947 1440 31.888 RECONCIUATION OF FUNDS Total funds brought lorward 444.917 2,250,751 2.695.668 2.663.780 TOTAL FUNDS CARRIED FORWARD 328.410 2.369.698 2,698,108 2.695.668 The notes f(¥m part of these financial slaterrents Page 6
COLESHILL GRAMMAR SCHOOL ENDOWhlENT FOUNDATION BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestrthd End¢ywment fund fund Notes FIXED ASSETS Inveslmènts Investments Investment property 425,458 821,408 1.446.064 1,246,866 1.446.064 1,035.804 1,446,064 425,458 2,267,472 2.692,930 2.481.868 CURRENT ASSETS Oebtors Cash at bank 29.109 46.481 29.109 148.707 55,285 387,702 102.226 75,S90 102,226 177,816 442.987 CREDITORS Amounts falling due wiihin one year (172,638) (172.6381 {229.1871 NET CURRENT ASSETS {97,048) 102,226 5,178 213,800 TOTAL ASSETS LESS CURRENT UABILITIES 328.410 2.369.698 2.698.108 2,695,668 NEf ASSETS 328.410 2.369.698 2.698.108 2,695,668 FUNDS Unrestricted funds Endowment funds 328,410 2J69.698 444.917 2.250,751 TOTAL FUNDS 2,698,108 2.695.668 The financial ststements were approv&J by the Board of Truslees and authorised for issue on IKaow.V.25............ and V*Ere sMJned on its behalf ty. Lord Ayles im)anj - Trustee The notes fonn part of these financial statements Page 7
COLESHILL GRAMMAR SCHOOL ENtK)WMENT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basls of preparing the finan¢l•l statomMts The financial statements of the charity. which is a benefrt entity under FRS 102, have been prepared in acwrdance 7Mlh the Charities SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended PractKe appkablg lo charth.es preparing the accounts in accordance wbth the Financial Reporting Standard applicatle in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191.. Financd Reporting SlaThJard 102 'The Financial Reporting Stsndard applKable in the UK and Republt of and the Charities Act 2011. The financial statsments have been prepad under historical cost convent. ¥wth the exception of investments whh are included al markei value. as modified by Ihe revaluatbon of rArtain assets. The finanoal statements are wepwed in sterliThJ (£) whth ks the functional currew of the entity. Income All income is re¢ogni$ed in the Statement of Financial Actrvities once the chaTty has entitlem8nl to the funds, it is probable that the income will be recep1 and the amount can be mgasured reliabty. Expendlture Liabilities a recognised as eXp•)di1u as soon as thefe is a legal or cstructE¥8 obligation commrtting the Charity to that expenditure. it i% probable that a transfer of economic benefits will be required in Settlement and the amount of the obligakn.on can measured reliabty. Expendilure is a¢¢ounled for on an accruals basis and has be8n classified under headings that aggregate all cost related to the category. Wher& costs cannot be directly altributed to partular headings they have been allocated to activities a basis consbstent Wbth the use of resources. Grants offered subject to condilM)ns which have not been rnet at the year end date are noted as a commitment but not aCcrld as exFerKlrture. Charitabl• actlvllles Costs of ¢hanlable aCtIlIeS inclLth grants made to indNpJuals and organisalions. Investment property Investment propety is Sho at most recent valuat. Any regate surplus or deficit arising frcwn changes in fair value is recognrsed in the Statemert of Financial Activilies. Taxatlon The charity is exwpl from tax on its charitat4e xtivths. Fund a¢¢ounting Unre$lricled fuThJs can be used in )rd with the Charitab c&iectNes * the discretion of the trustees. Restricted funds can onty be used for wiuikgr restricted purposes wthin the oty.ects of the chanty. Restrictions arise vthen specifEd by the donor or wthen funds are raised for particular restricted purp$. The pemianent endcvwment represents those fvnds which must be hekl permanently by the charity. Income arising on the endtjwment fund can be used in accordance wth objects of the charity and is included as unreslricled income. Any cakmial gain or loss arising within the permanent endowment fvnd fomis part of that fund. Page 8 continued...
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2025 INVESTMENT INCOME 2025 Total funds 2024 Total fvnds Vnfestrthd End¢)wment fvrrfl$ funds Rents received Lease extensM)ns on ground rents Income from inveslments Deposit account interest 116.110 42.919 30.017 142 116.110 42.919 30.017 142 110,123 18.950 30,201 198 189.188 189.188 159.472 INVESTMENT MANAGEMENT COSTS 2025 Tt)tal funds 2024 Total funds Unrestrthd Endowment furKIs fvnds Rates, water and insurance Propety management fees Repairs and renewals 7,565 16.221 7.565 16,221 7.694 6.535 9,929 188 31,480 31,480 16,652 TRUSTEES. REhlUNERATION AND BENEFITS The We no tru$lees' MUneration w other beneffts for tre year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. gxponws Theie were no trustees, expenses paKI kn the year ended 31 Mafch 2025 nor for the year ended 31 March 2024. FIXED ASSET INVESTMENTS Listed investments ARKET VALUE Al 1 April 2024 Additions Disposals RevalUatn5 1,035,804 246.347 (28,372) (6,913) At 31 March 2025 1246.866 NET BOOK VALUE At 31 March 2025 1.246.866 At 31 March 2024 1.035,804 Theft were no investment assets oulsi(k the UK. P*3e 9 continued...
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION NOTES TO THE FINANCIAL STATeMENTS - conlinu•d FOR THE YEAR ENDED 31 MARCH 2025 FIXED sET INVESTMENTS - conllnued The investments compr6e: 2025 2024 Share typo COIF Income Units ICS-Sterting Liquidity Fund Alpha CIF for Endowments Alpha CIF for Income and Reser4es 2,331 2.080 621.300 180.C(10 45.404 247.017 776.004 178,441 43.616 814,895 173,286 1,246.866 1.035.804 Cost or Valuat at 31 Mar¢h 2025 is represented by: Llsttrd Investments Valuation in 2025 Valuation in 2024 Valuation in 2023 ValLRtion in 2022 Cost (6,9131 63.902 (72,6941 11,695 1.250.876 1.246.866 ICS-Sterlir4J Liquidity Fund. Alpha CIF En(kywrnenl and InrAxne and ReseThe unils are held in the name ol Sarasin & Partrws LLP as norninee. Sarasin & Pathers LLP provide a discretionary management servKe. INVESTMENT PROPERTY FAIR VALUE At 1 April 2024 and 31 Marth 2025 1,446,064 NET BOOK VALUE At 31 March 2025 1,446.064 At 31 Mch 2024 1,446. Fair value at 31 MaTch 2025 is represented by". Valuation in 2023 Cost 285,000 1.161,064 1,446,064 Page 10 continued...
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 INVESTMENT PROPERTY - continu•d The investment WOFefiEs were revalued cffi 21 December 2022 by Pennycuick Collins Chartered Surveyors, on an open market basis subj.ect to existing use. Addrtions *nce that dale are included at Cost. The trustees are not aware of any material Changes %nce the last valuation. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors Pennycuick Collins PpaYments and accrued irKome 4.400 19.421 5.288 4,400 45.597 5.288 29,109 55,285 CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2025 2024 Other ueditors 171638 229,187 MOVEMENT IN FUNDS Net movement in fvnds At 1.4.24 31.3.25 Unrestrlcted funds General fund 444,917 (116,5071 328,410 Endowment funds Endowment Fund 2.250.751 118.947 2.369,698 TOTAL FUNDS 2,695.668 2,698,108 Net movement in funds. included in the above are as follNs'. Incoming reScrS Resources expended Gains and losses Movement in fvnds Unrestrlcted funds General fvnd 189.188 121)0.027) 1105,668) 1116,507) Endowment funds Endowment Fund 118,947 118,947 TOTAL FUNDS 189.188 1200.027) 13.279 2.440 Page 11 continued...
COLESHILL GRAMMAR SCHOOL ENDOWMENT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 202S MOVEIAENT W FUNDS - contlnued Comparatlves for movemont in lund$ Net movement in funds At 1.4.23 31.3.24 unrestrict funds Gene fund 391.237 53.680 444,917 Endowment funds Endowment Fund 2.272.543 121,792) 2,250,751 TOTAL FUNDS 2.S53,780 31,888 2,695,668 ComparatNe net movement wi funds. rtluded Mi the above are as folIcr.. Incoming Resources Gains and resources expeThJed losses Movement in funds Unrestricted funds Gener fund 159.472 1191.48n 85.695 53,680 Endowment funds Endowment Fund 121.792> {21,7921 TOTAL FUNDS 159,472 1191.487) 63,903 31,888 10. RELATED PARTY DISCLOSURES There werè no related pty transactions for the year ended 31 March 2025. Page 12
COLESHILL GRAMPaAR SCHOOL ENDOWMENT FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestrthd Endov&ment funds INCOME AND ENDOWMENTS Investment incomo Rents received Lease extensions on ground rents Income from Investments Depos11 account interest 116.110 42,919 30.017 142 110,123 18.950 30.201 198 42.919 30.017 142 189.188 189.188 159,472 Total Incomlng resources 189.188 189.188 159,472 EXPENDITURE Investment manag•m•nl costs Rates, water and insurance Property management fees Repairs and renewals 7.565 16,221 7.694 6.535 9,929 188 16.221 7,694 31.480 31.480 16.652 Charitabl• actlvltles Grants to institutions Grants to individuals 141.448 2,561 141.448 2,561 161,483 5,072 144.009 144.009 166,555 Support costs Management Advertising 426 426 403 Govemance costs Accountancy Professional fees Clerk's salary 3,750 13.766 6.596 3.750 13,766 6,S96 3.572 40 4,265 24.112 24.112 7.877 Total resources expended 200,027 200,027 191,487 Not (expgnditurgyincome beforo gains and losses 110.839) 110.839) 132,01 S) Reallsed recognised gains and losses Carried fOard (10.839) (10.8391 {32,01 $1 page doe5 not fOn part of Ihe statutory financial ststernents Page 13
COLESHILL GRAMMAR SCHOOL ENDOWMENT F¢)UNDATION DETAILED STATEMENT OF FINANCIAL ACTMTES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total lunds 2024 Total funds Unrestrthd ETrJowment funds funds Realisod rocognls•d gains and los Brought forward Realised gainslllosses} on fixed asset investments 110,839) (10.839) (32.0151 20,192 20,192 Net l•xpenditur•Wincome 110,839) 20.192 9.353 (32,015) This page does not frn pwt of th8 slatutory financkal statements Page 14