ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION TRUSTEES. ANNUAL REPORT an(1 FINANCIAL STATEMEKrs for the year ended 31ST DECEMBER 2021 ALDRIDGE COOPER & JORDAfvYS ENt)OWED SCHOOL FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Statu8 Charity name AklrKlg8 CooFer Jordan'8 Endowed Sch￿1 Foundation Char¢ty regi8tralh)n number 528872 The organisalion wa8 establish￿1 under a Trust agr*J by tha Chafty Comm18s1oner8 In 1991 and 8ubsequenlty amended in 1993. Tru8tO08 Under the Twst deed the numbor of TfU8tee8 18 set at 9. up # folk)￿. 1 Ex-officio, beirwj the curront inwmbent cl St Mary the Vlrgln. Aklr*e 4 Nominatéd- 2 by W818811 M8C.' hokling Offi￿ lor a tofm of 3 yaarn 1 by Lichfidd Dlo¢uan EdUcat￿n Committee.. hohJing L*lko a lern 014 year8 1 by the PCC of St M8ry.' holding offiu for a tem) of 4 y￿rn 4 C￿0p1•d - bein9 p8r8on8 having • •p¢¢ial kntr* of the of Bonefft., holdlng 0ffl¢o for a tem of 5 The Tru$l déed requir8$ that- th8 Tru81888 meet al1è88t wh year, • quorum for th• meets'ng8 18 4 Tw8te88 belTrJ proo•nL the TN8tee8. al their fir8t ordinary meeting in gach year, sh￿1 dect one of thelr number to bo chalm7an of their meeting• unld the commoncement of tho Ilrnt ordlnwy mo•tlng In the folknwng year. The TnJ8tO0• lor￿n4 durlng the yw were- Mr N A Hopley IChgim)an> Mr8 C A Grogory Mi68 J Laur8nc• Mr8 J Mar8ton klr I P H•ndernon Mr C Long R￿. S Dool Mi88 K Ward M8 J Yarnall (Appointed 5 J￿Y 2021) Clèrk to th• Tru8t•o8 MrJD Prlnclp•l addrn•• of th• charlty rjo Me8dryMand8, 100 Neth Road, Burton ¢)n Trant, Stafford8hire. DE15 orr InYo•tm•nl Advl•orn Smtth & Wth1￿$¢n Irwe8tment 3rd Floor, 9 Colmorn RN, Birmingham. B3 28J B4nk•rs Bardays Bank PLC Lolce8ter, LE87 2BB Sollcltor John l)ae MeadcthlandB 1￿ N8Ykn Rtsad Burtm c*) Trent Staffordshiro, DE15 0 Ind•pendent examln•r C T Eoknad8. FCCA C T Eoknords Ltd 26 Damford N*JoT8 Llchfiehl Slaflordshlrè. WS14 9RL ALDRIDGE COOPER & JORDAN'S ENtX)WED SCHOOL FOUNDATION REPQRT OF THE TRUSTEES FOR THE YEAR ENDED 31 ST DECEMBER 2021 The Trustees present th￿r rer￿ together with th8 fin8ncHI 8tat•monts of the chafity for the year endod 318t Dgcomber 2021. Structuro. gov•rnanc• and maTrag￿￿ Thè ￿81 and edmini8tr8tive Inf￿ation Set out on page 1 fomis part oflhh repxxL ObJ•CtIv￿ and actlvlti Th8 Trust Deed empuHwed Ihe Tru8tee6 to deal with the inc(¥ne of the F￿rKlat￿ 88 folkm... 1 Maintwning th8 propertles of the FcthdatK)n. 2 The proper costs of admlnistering managing the Chanty. 3 A88181ing the school gov¢mor8 to di8charge their oblwJation¥ under Education Acts. 4 Assisting tho 90￿mor8 of any other volunt8ry aided sched in the k)calty and in whkh ro&giou8 In8tN¢tlon In a¢Gordanc• wlth the dcKtrine8 of the church ol England 18 given. 5 Pro￿dIng SP￿la1 beneffls lo the sch)o18 and any other 8th￿15 kn the ktalrty. 6 Promoting the eduCat￿n (including educatton in ¥ccord8nce w6th the doctrin8s of the Church of Enoland and social and physical Irainlngl of pupllB and fcrfmer pupils of the Schools under tho of 25, and other similar person8 in tha localmy. The g8ogr8phieo18rea Ilho kn¢8hty) for wthi¢h the Tru8tO08 ¥• emwwodls Metropol#an Borough of Walsall but wlth prnfff•n￿ for the Ancknt Parnh ofAldrW. A¢hl•v•mont• and p•rfomMn¢• In accordance wlth Ihe requlrem8nl• ol the TfU8t deed, in c¢)mplK•rK• with the dLty In 80¢1ion 17 of the CharRie8 Act 2011 to have due regard to public bonefrt. thts income h88 contlnued to be u8ed to- support thg actNrtle8 of The ￿drk1go Coopor and Jordgn El￿¢y1￿d and otlw ¥chool8 in Iho by providing funding for 881*ies, equipmant. malnlenance and other running ¢0818. Prowde 8chocA and church workorn to 8lVPOrt and d•vdop religi￿8 edu¢atbn for the youth of the araa. or develop th8 educallon or ac￿10 in conn6ct￿n with rel$10￿ $ludie8 and p88toral work ftjr the youth of the area. Thera hovo be•n no change• kn Ihe 8¢ope or Iwl 01th￿ requirements durirvJ tho ￿r. Flnanclil r•vl The ch8rity'$ incom• wntinum to h Inxn its of inve8tsnents tO98thor wlth property rental and intwe8t on Ils bank b8lanco8. The charity has mlnlmal fimjty commiltéd expenditurè. and th• tw￿889 on$ure that any requests for financlal a88i8tance can be met oth olthe a￿stir￿4 Un￿1￿￿1 b*nees. The TTUSte88 have committed to prowding a minimum of 10% toward8 nec88ty8ry buildkng work¥ al the ￿h0O1, and thè exlenl of Ihe work rquired has increased spjnificantly Imth a con68qu8nlial incre868 in the level of funding providgd by the Trust•e$. Where pos81b￿ these G08ts are met oul of income arisirsg. bLrt a5 the work i¥ ongoing a sum of money has been set as*Ja 88 e cushion Icwrt18 thase ￿t$. Those fund$ are shown 98 Designated FLrnds in these xcounts and at the year gnd. Aiso, in connection with this fvnding rgquirement permiss￿ W8s obtained from the Charlty Commi88bn to convert £40.000 of caprtal into tho unreslrieted income funds. Full detailg of incom8 and •xpenditur8 is set out in the Statement of Flnanclal ActNitte8 and Ihe accompanying note8. ALDRIDGE COOPER & JORDAN'S ENtK)WED SCHOOL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 (c(ntinued) Plnanclal r•vlew Iconthiu•dl Inves The Tfuslees have engaged Smith & WiUiam60n Inv8strn8nt Mana3ement as Inv￿lMent *Jvi8er8 and portlob'o man89ers. Thè Poli￿ adcf*ted 18 lo utib'se ICNI ri8k and fix•J intereBt wive8knent8 (excluding tobac¢o and other 8to¢ks that may confiict with tha trusY8 princrilg¥} to generate incomo of approxwnatdy £120,1)00 par annum, whiht ensuring that the investment base of the F￿lf01￿) is not eroded by inllation. Regrettab￿, primarily due to the effect that Cowd-19 was having on busine￿88 and life genera￿. thè Tn￿188$ had advised that il would not be possible to a¢h￿ve thi8 in this year. and r8dyced the amounts drawn d(hvn each month lo match the l¢)wer expected feval of income. Durlng th¢ year under rew8w inv88tmenl Ineomo iKf•aJed by Soma 7% and th8 mad(et value of Inw8tmen18 held in¢roased by approxknately 11%. Th• balance on incomo funds are the unrestricted lund8 of the chaTty. The Current b81ance of the8e funds1£73.9351 r•pres8nts. hi81orKalty. approximately 5 monlh8 routthe exponditur8. man The Irusleos have con8ldor￿I Ihe major strateg￿ busln••8 and operalk)nal rt8k8 Ythl¢h the charity faces ond believe them lo be minimal. The trust￿ th81 the 88tabli8hed repo￿.n9 $yslem8 will ènable them to Identfy potential future r16k8 and take remedlal action to mlntsnloe th8 impacl of Ihoje rlok8. Plans for futur• p•rfod• A8 prevlou8ty report•d, th• T￿￿tsel ho%* commitiod to provhSlTha 8t1••8110% toNard• Pham8 of the nece$8•ry buildlng works al tho s¢hool and are 88tt1ng a8kle fund$ d88ignated to meet thi8 commilmenL Whlht this limlts tha fund8 avwlabl8 for other •XPWKlrture no othor major changes lo the actsvrtlel of the charity are planned for the foreseeable ILrtur8. Tha Investment manager8 h8w fOr￿ast Mral inve8tsn8nt iTKome cl somo £120,000 fty the en8ulng yo8r. In addition th• Tru8teo8 expect to c¢Jntsnue rece￿n9 a gross Terrtal incryne of 8crfnè £23.500. The Tru•teo8 will once ggain make any rwA88ary adju8lments to tt￿r expen¢Jitur8 pr¢w8818 to en8ure that they do not exceed awloble resourcos. AJ part of thw arrangem￿ts a further applicotion ha$ been made to and approved by tha Charty Commi88h)n to con¥ort the sum of £35,000 of capltal fund8 for use a$ incomè. Tru#t•M' r￿Pon*1b1ll1lQ• In r•latlon lo th• flnancld •tat•m•nts The Trug1ts8 or• re8wn$ibl8 for propwing the Tru8toe8' Annual Report and thg financFal $tal8ment8 In accordance vrfith applK8bl8 law and Unitod Kiffjd(xn AcC￿n￿.ng Standard8 {United Kingdom Generalty Accepted Accounting Practice). Law 8pplicabl8 to charit￿ in England and Wales requires the tru8te86 to prepere financ￿] statements for each financial year which give a true and fair view of the ch￿IlleS financial xtNiti6s during the y8ar and of ts financial posibon al the end of the year. In preparing those f￿anual 81atements, the Iruslees are required lo.. setht Suitab￿ accounting pokcies and wky tham consi$lenty, - make judgements and 8stimate8 that are r•aK**ble and prudert slalg whether applKable attounting 8tsnderds and slatements of recommended practic• have b88n folbwed subject to any departure8 disclosed and explaTr￿ in the finan￿1 statements, and prepare the financi81 statements on a goiffJ concern bas￿ Unl￿ it is in4)propriats to presumo that the charity will continue in busin888. ALDRIDGE COOPER & JORDAN'S ENDOVED SCHOOL FOUNDATION {n 145151{bl of the Act: and . stsle whether particular matter8 ¢om• to my att￿ti￿. Ba•18 of Ind•p•nd•nt •xamIn•￿* r•port My examination was carri•d out in accordan￿ *ith general DirocttoM glven by the Charty Commi89lon. An èxaminatlon Includes a rov** of tho ac¢ounlirvJ r￿OrdS k¢pt by the ¢h8nty and a compari80n of the accoun18 presented with those reclxds. tt a180 Includ08 con8kSeraUon of any unusual items or di8chJ$ureJ in thè accounts, and seaking explanation8 Ir(¥n the Iru81ee8 col￿eMIng any Such matters. The proc¢duro5 undertaken do not Pfovide 811 th• evKlanc6 that M)uld be required in an audrt. and conoequ6ntty no CPIn￿ 1$ given a8 to whether the account8 PTOBenl 8 't￿ and falrf VI￿ and tho report • Ivnrted to tho8• matter4 Set out In t￿ 8tatem8nl below. Indop•ndent •xamlnef• 8tat•m•nt In ¢onnectlon Mth my ex￿1n•t10￿. no mat•rio1 mattern have ccffie to my attentlon wttlch glvo me reasonable eau88 to boligvo that In any mat•rfAI r••p•ct:. . th• a¢countAig rwd• wer• nol kept In •>xrdgnco wilh a￿tIon 130 of the Charillo8 Act., or tho 8ccounl$ d￿￿ not &cord with th• accounting r•corth.' or th¢ account8 did not cc*nply with the applrAble requinnerts conceming the fonn and content of account8 set out In the Ch8th1'•8 {Accounts 8rKI Report81 Rogulatlon8 2008 other than any requlremonl Ihot the accounts give a and laif viTh ?wh￿h not a matter ¢>Jn81derod 88 part of an indep8nd•nl ex0mln8￿n. I have come aer088 no ¢)ther mattern In ¢onnecUon IMlh the exwnFnatlrm to which attention should bo dr8wn in thi8 report In order lo an8ble a prcp•r und•r8tandlng of the acc(wnts to ￿ roach•d. C T Edward#, FCCA of C T Edwards Ltd 26 Darnford Mtxsrs. ehfield. Staffordshiro 9th May 2022 ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES for the year eNled 31st DECEMBER 2021 INCOME GENERAL DESIGKATED CAP￿AL TOTAL 2021 TOTAL 2020 INCOME Inve8tment In¢crfne Propgrty rental Mi8cellane¢w8 Inwii• 126,288 23.451 I￿.287 23,451 2C 115.587 23.446 100 Total incoming reoources 149.W7 149,918 139.133 EXPENDITURE Raislng funds In￿elment management c¢Jsts Charitable aclNit 20,796 188,851 19,348 150,018 188,851 Total r88oUr¢￿ oxpended 188.851 20,798 209.447 189,362 NET INCOMINGIIOUTGOING} RESOURCES BEFORE TRANSFERS 138,7341 120,7g61 Is9.5291 (30,229) Tranaf•r8 bdweon furKI• {40,( NET INCOMINGIIQUTGOINGI RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES (￿,798) 159,529) 130,2291 GAINS AND LOSSES ON Nèt r89liB8d gain81lh)88811 Net movement in unrnalised w'n•l{108•ts) 82,734 410,198 82,734 410,198 201.594 {268.6981 NET MOVEMENT IN FUNDS FOR THE YEAR 412,136 413,403 197.3331 Balanc88 brought forward al 1st January 2021 11.131 4,325,240 4.409,040 4,508.373 Balanc86 cath¢d f¢xward at 31st D¢Cern￿r 21r21 73.935 11,132 4,737,378 4,822.443 4,409,040 Th• not￿ on page• 8 10 10 lo￿7 part of t￿￿6? *c￿nts ALDRIDGE COOPER & JORDAN'S ENDOVVED SCHOOL FOUNDATION BALANCE SHEET as at 31st DECEMBER 2021 INCOME GENERAL DESIGNATED CAPETAL TOTAL TOTAL 2W20 FIXED ASSETS T8nglbl¢ fixed &s8¢ts Investmènts .CrfM) ￿,{1X) 558,c(10 4.1S3.977 4.153.977 3,744.488 4.7LTr3.977 4,709.977 4,300.488 CURRENT ASSErs Dobtor• and prepayments Cash at bank and In hand 454 120.032 1.698 114,595 78.363 11,132 32,537 76.817 11,132 32,537 120,488 118.291 Credili)rs.' 8moLtnts falling duo ￿thift one year 12,8821 15,138) 18,0201 17,7371 NET CURRENT ASSETS 11.132 27.399 112.488 108,554 NEf ASSETS 73,935 11,132 4.737,378 4.822.443 4,409,040 TOTAL FUNDS 11.132 4,737,378 4.822,443 4,409,()40 The8• accounts were Spproved by tho Tru•t•es at th￿r mooting on 9th May 2022 arKI 8fjned on their b&hatt by.'- N A HOPLEY TRUSTEE ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION SCHEDULES TO THE AccouKfs for tho year WKled 31st DECEMBER 2021 ACCOUNnNG POUCIES &4SIS OF ACCOUNTING {al The financial statements have boen prepared under the historical ¢ost convention, as Mod￿￿￿ by the revaluation of fix•J assets and the incbJ$*)n of investment5 * rna￿et value, the a¢crual8 ba818 and in accordanGfj with the Statement of ReLommended Prath"c•: Accounting and R8POrting by Charitie8 preparing their ac￿untS in accordance with thé Fnancial Reporting Standard applicable In the UK and Republt of Ire18nd IFRS 1021 issu•J on 16 Juty 2014 8ANI tho FinancAI Reporting Stsndard epplic8ble in tho United Kirwdom and Republic of Ireland (FRS 102) and the char￿8$ Act 2011. Ibl Advantago ha$ been taken of thg exempl￿ avallfiblo in s•cthx 7 of FRS102 In not prgparlng a stat￿ent o INCOME All Incoming resource8 are included In the 8tatoment ol flnanclal aclvfties when tha charity 18 0nttiled to tho inccfflo and th• amount Cgn be quantff*J wth rgawnabla ac¢ur8Cy. EXPENDITURE Expel￿rture Is re¢ogn18ed on an ￿u81 bash 88 è th8bilty 51 wKurrod. Expandi￿re Includ88 VAT wh￿h cannot be r•c¢wer¥d, and 18 réported a8 part of the expèndilure to ¥•thich rt relates.. Olrecl ¢haiitabl8 8¢tr¥ity expendltur• c¥mprMI tho•e C￿18 Incurrod by th• charty In the dglhery of It8 actMtle8 and 8ervke8 lor tts beneficlafi88 Govornance co•t• Incknde those costs assoclated with meetlng the conslttutlonal and 81atutory requirèmènts of the ch9nty and includ• Tru810o moollng c08t8 4nd Support and annual a￿oUnt• c081•. TAXATION Cap5tal Gains Tax. bul nat Irom VAT. I￿￿0¥0￿1? VAT b Included Sn Iho colt of th￿ Item8 to whlch It relat81. TANGIBLE FIXED ASSETS AND DEPRECIATION Th• Foundal*)n'$ only fix•J a$￿¢$ compri•¢ freohokl prO￿th8. No depreC￿til)n l• provKl8(I slnc• th• proportim ar• •ubio¢t to pgtkndlc ro¥d￿tIO￿. FIXED ASSEf INVESTMENTS Inv08trnerth aro In¢￿dad at ck)olng mid4nark•t valu••, a8 Confi￿ned by the InYe8tmsnl Manaqern. Any gain or108s M revaluation i• ￿en to th8 Statement of Financial Aclfvib6¥. INVESTMENT INCOME I￿oME TOTAL GENERPL DESIGNATED 2021 TOTAL 2020 Income frcffl Govommenl & quotgd 8￿rit Interest on bank & cash dep￿ts 128.257 126,257 10 115,517 70 126.2 128,267 115.587 ALDRIDGE COOPER & JORDAN'S ENDOIVED SCHOOL FOUNDATION SCHEDULES TO THE ACCOUNTS for the year ended 31st DECEMBER 2021 {¢ontinued) 3 a CHARITABLE ACTMTIES GENERAL DESIGNATED 2021 2020 Direct chaiitabte xt1￿1 Proporty C0818 Schools Gosts Youth, Children & Famili8B Workern Gran18 Support costs Clork to thè Tru8to98 & 8ecr•tarlal 8UPPOrt Pfolessional fe68 Independent ?xaminer- addtth)nal accountemcyvrtx Bank char9ts Governance Clerk lo the Truste88 Independent examiner foo 4.894 97,376 3,152 85,314 58.934 97.376 11.573 11,573 13.196 1,657 13,198 1,857 1.21)) 144 13,049 1,2 144 3.225 3,225 5(J) 188.861 1e8.651 150,018 3 b GRANTS Blue Coat School Prowwon of musical in8trumonts W8l$aN Bereavemenl Supwt Serd¢4 0$8i8t in fundlng 8horttaU St Martin8 September P￿0¢1 2,073 s.D)o 4.600 TANGIBLE FIXED ASSETS 2021 2020 Freehokl properU88 Cc4t or valuation at 31810￿ember 558.Ck)0 556,C(*J The freehold lan(Is were r8thV8lued in August 2008 by M￿$r8 Fisher Gemian, Charterod Surveyors. Tho Trustees bglieve that Iher¢ ha8 been neglwible mov8ment in the prcyety valu88 in the year and are of the opinion th•t no bon•fft woukl be gakned by I￿￿rTing ts costs of a profe881onal valuation. Somo of the prop6rtre8 were acqu1￿￿ as knng ago 88 tho 17008 and 80 it is not P068ibh to Show ¢081 and révalualion details a# required by FftSI￿2. A8 thero 15 no intention to 8ell any of the prop8rtie8, the Trustee8 gre of the oplnion that no bengfit V•vukl be gainad by attempting to create a Revaluation Re8eNe. The foundatK*n a180 (yrtns ￿nd in the Parish of Akjridge used by the Local Education Authorty for the provislon of 8chocAs. No value has ever been attr1bu￿ lo this kqnd which was originalty v88ted in the TnJstee8 on 29th March 1974 under paragraph 6 of the first th￿Ule io the Education Act 1948. 10 ALDRIDGE COOPER & JORDAN'S ENt)014VED SCHOOL FOUNDATION SCHEDULES TO THE ACCOUNTS for year eThled 31st DECEMBER 2021 (continued) INVESTMENTS (As Fixed assets) 2￿21 2020 Quoted investments Markgt valu8 4,153,977 3.744,488 Book Gosl 3,1W,182 3,014,223 DEBTORS 2021 2020 TAX reco¥erabla PrepayThents and xcrued interest 438 454 1,896 CREDITORS.. AMouKfs FALLING DUE WITHIN ONE YEAR 2021 2020 Income re¢•tvod In adv8nce Accrual8 1.789 8.231 1,789 6.948 8.020 7,737