ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION TRUSTEES, ANNUAL REPORT anu FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2024
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Status Charity name Aldridge Cooper and Jordan's Endowed Schwl Foundation Charity registration number 528872 The organisalion was established uThJer a Trust deed agreed by the Charity Commissioners in 1991 and oubseqLJeptly 8mended in 1993 Trustees Under tho Trust deed the number of Trustges is set at 9, made up as follows. 1 Ex-officio, being the current incumbent of Sl Mary the Virgin, Aldridge 4 Noryiiriated - 2 by Walsall MBC," holding office for a term of 3 years 1 by Lichfidd Diocesan Education Committee. holding office for a 18rm of 4 years 1 by the PCC of St Mary. holding office for a term of 4 years 4 Co-opted - beifVJ persons having a 5cIal knowledge of the area of Benefit., holding office for 8 term of 5 years. The Trust de&J requires that- the Truste8s m8et at least 1¢8 each year, a quorum for the meetings is 4 Trustees being present. the Trustees, al their first ordinary meeting in each year. shall elect one of their number to be chairman of Ilieir rriegtirigs uiitil Iht> commenlent of the first ordinary mtselimg in Ilie folluwing y&ar. The Trustees sgrwng during the year were- Mr C Leng (Chaimanl Mrs J Merslon Mr P J Young Mr I P Henderson Rev. S Doel Ms J Yarnall Ms R Ruane Miss K Vvard Clerk to the Trustees Mr J Deeley Prlnclpal address of the Charlty clo Meadand5, 1( Newton Road, Burton on Trent, Slaffordshire. DE15 OTT Investment Advlsorn Evelyn Partners Investment Management LLP 14th Floor, 103 Colmore Row, Birmingham, B3 2AG 8ankers Barclays Bank PLC LeIster, LE87 28B Sollcltor John De8ley meadoand8 100 Nevrton Road Burton on Trent StdffL)Id>liire, DÉ1of OTT Independent Exam(ner C T Eoknards C T Ethrds Ltd 26 Damford Moors Lichfield Staffordshire, WS14 9RL
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The TrusleE)s piest)nl their rèpK)rt together with the financAaS statements of th8 charity f. the year ended 31st D&cember 2024. Structure, governance and management The legal and administrative information sol out on page 1 fomis part of this report. Objecttves and adivities The Trust Deed empowered the Trustees to deal with the income of the Foundation as follows.'- 1 Maintaining the properb'es of the Foundats"on. 2 The proper costs of administering and managing the Charity 3 Assisting the school govemors lo discharge their obligab.ons under Ihe Education Acts. 4 A3sisbng the gov8rnors of any other voluntary aided sthool in the locaSily and in whith religious instruction in acGordance with the dlxlrines of the church of England is given. 5 Providing special b8nefits to the schods 8nd any other schools in the locality. 6 Promoting the education (including eduealion in accordaKe with the doctrines of the Church of England and social and physical trainlngi of pupils and former pupils of the sclKJols under the age of 25, and other 8imi18r persons in the locality. The geographical area (the local((yl for which the Trustees arg empowered is the Metropolitan Borough of Walsall but vAth preferenGe for the AnGienl Parish of Adridgg. Achievements and perforniance Iii accordarice with tFie requiremenlb of the Tiusl deed, and in compliance with the duly in section 17 of the Char(ties Act 201110 hava due reg8rd to public b8nefit, this income has conlinuecl to be used to - Support the activities of The Aldridge Cooper and Jordan Endowed Sthool and other schools In the area by providing funding for salaries, equipment, maintenance and other running costs. Provide school and church workers lo support and develop religlous education for the youth of the aréa. or develop th8 eduGalion or activities in Connecti¢ with religious studiès and pastoral work for the youth of the There h8va béen no changes in thé scope or level of tMes8 requirements duriry the year. Flnanclal rw41ew Thg charity s in¢(kne continues to be from ils portfolio of investments together with property rental and interest on its bank balances. The charity has minimal fimily committed expenditure, and the trustees ensure that any requests for financial assistsnce can be mot out of the existing unraslricled balances. The Trustees ere c.ommitted to providing a minimum of 10% towards Dec8ss3ry building wort(s al the school. and the ext8nt of the work required is continuing at a high level. Where possib5e ttsse costs are mel out of income arising. but as the work is ongoing a sum of money hos been sel aside as a cushion towards these costs. Remaining funds are shown as Designated Funds in these accounts and 8t the year end. Full d81ails of income and exFxndilure is set out in the Statement of Finanaal Actiwtses and the aGcompanying notes. vestrnenl lic Thè Trustees have engaged Evelyn Partnws Invostment ManageMt LLP as investment advisers and portfolio managers The policy adopted is to utslise low risk and fixed interest investments (excluding tobacco and other stocks that may G(x)flict with the trust's principles) to generate income of approximately £130,tK)O per annum, whilst ensuring that the investment base of the porttolio is not eroded by inftation The income target has been adad thik ya2r, gnd tha improvamont in tho gonwal fin8nci81 dimate h8$ r&sult8d in an incroAso in tho portfolio valu8. rfflan¢e
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 {continued) Flnancial revlew (continued) During the year under review investment income decreased by some 60h, whilst the market value of investments held increased by approximately 3%. Reserve The bas£¥1 on incurrie funds are the unrestricted funds of the charity. The current balance of these funds1£73,6281 represents, histoncally, approximately 4 months routine expenditure. Risk mana ?ment'. The Iruslees have considergd the major slralÈgic business and operational risks which the tharity faces and bdieve them tt) bg minimal The truslges believe that the established rertIng systems will enable them lo identify potenb'al future risk8 and take remedial action lo minimise the impact of those risks. Plans forfuture perfods A5 previously pOrted. the Tnjstees have committed to providing al least 10% towards Phases of the necessary building works al the school and are Èndeavouring to ensure income is sufficient to meet this commitment. Since this limits the funds available for other expenditure no other major changes to the 8Ctivilies of the charity are planned for the foreseeable fLrture. The investment managers hav8 forecast OV8rall investment income of some £150.000 fof the ensulng year. In Idilion the Trustees exGI to continue receiving a gross rentsl income of some £28.600 The Trustees will once again make any necessary adjustmeiils to Iheir expei)dilurè proFX)sa5s lo ensure that they do not exceed available resources. TN8tees' respon$lbiliti•s in relation to the flnanclal statement8 Th8 Trustees are responsible for preparing the Trustees, Annual Report and the financial stslemenls in accordance wlttt appllc4ble Saw and United Kingdom Aecounung Standards lijniied Kingdo1 Gvnerdliy" Aicepted Accounting Practice). Law applicable to thanties in England and Wales requires the trustees to prepare financial statements for each finanaal year which give a true and fair view of the charities financial activities during the year and of ils financial position at the end of the year. In preparing Ihosg financial stslemenls, the trustees aro roqUid lo.. sdecl suitsb5e aGGouriling policies and appSy tliem consistently., make judgements and estirnates that are reasonable and prudent., stste whether applicable accounting standards and slatements of recommended practice havo been followed subject to any departures di5dosed and explaned in the financial sl8lemenls. and prepare the financial slalemenl$ on a going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and engble them to er)sure that the financial slalements comtAy with the Chanties Act 2011, the applicable Charity (Accounts and Reports) Regulations and the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for takn.ng reasonable steps for the prevention snd detsclion of fraud and other iffegularities. Approved by the Trustees al their meth'ng on 17th March 2025 and signed on their behalf by.. CTLENG TRUSTEE
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION I report lo th& IruiTrltres on my exainination of th8 accounts of the Foundation for th8 year ended 31 sl December 2024, which are sat out on pages 6 10 10. Re5pectlve responsibllltles of trustees and examlner The chariws Iwslees are responsible for Iho pr$paralion of th8 accounts. The charitS trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 1"Ihe Charities Act.) and that an independent examination is needed. It is my responsibility lo examine the accowts (under saetion 145 of the Acti., io follow Ihg procedures lai(5 down in th8 general Directions given by the Charily Commission under section 145151{bl of the Act, and stsle whether particular matters have come lo my attention. Bas18 of Independent examiners report My examination was cariied out in accordance wilh general Directions giv&n by lh& Charity Commission. An examination includes a reeW of the accounting records kept by the charity and a comparison of the accounts yesented wth those records. It also includes considerats.on of any unusual items or disclosures in the acwunts. and seeking explanattons from the trustees conceming any such mallers. The procedures undertaken do not provide all the eviden that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'lrue and fairf leW and the report is limited to those matters set out in the ststemenl below. Independ*nt oxam5n$rfs stalement In conneth'on with my axamination, no material matters have come lo my altsntion which give me reasonable c£use lo believe that in any material restEcl '. the aecounb.ng records were not kept in ac¢ordan¢e with section 130 of the Chanli&s Act,. or the accoui nts did not aceorfl with the accounting records,. or the accounts did not comply with the applicable requirements conceming the fom and conlenl of accounts $et out in the Charities (Accounts and Reports) Regulab"ons 2008 other than 8ny requirement that the accounts give a true and fairf VI which is not a matter considered as part of an independent examinabon. I have Comg across no other matters in conneLlion with thg examination lo which attention should be drawn in this report in order to enable 8 proper understanding of the accounts lo be reached. C T Edwards C T Edwards Ltd 26 Damford Mwrs, 'chfield. Staffordshire 17th March 2025
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES forth8 year ended 31st DECEMBER 2024 INCOME GENERAL DESIGNATED CAPITAL TOTAL 2024 TOTAL 2023 note INCOME Investment income 154,870 28,601 17 154,887 28,601 145,452 23,888 1,725 Property rental Misttelldi)èous income Total incoming resources 183,471 17 183.488 171,fK15 EXPENDITURE Raising fun(Ss Investment m8nagemgnt costs Charbtable activities 19,938 19,938 226,223 19,071 155,421 226,223 Total resources expend 226,223 19.938 246,161 174,492 NET INCOMINGIIOUTGOINGI RESOURCES BEFORE TRANSFERS 142,7521 17 119,9381 162.6731 13,4271 Transfers between funds NET INCOMINGIIOUTGOINGI RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES 142.7521 17 {19,938) 162,6731 13,4271 GAINS AND LOSSES ON Nel realised gainslllossesl Nel movem8rit in unre81ised gainsl(losses) 5,153 107,306 5,153 107,306 31,576 34.484 NET MOVEMENT IN FUNDS FOR THE YEAR 142,752) 17 92,521 49,786 62,633 Balances brought fotward at 1st January 2024 116,380 1.146 4,249,458 4,366,984 4,304,351 Balances carried forward at 31 sl Decembèr 2024 73,628 1,163 4,341,979 4,418.770 4,366,984 Th8 nolas on pages 8 to 10 form part of these accounts
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION BALANCE SHE as at 31st DECEMBER 2024 ilycokli GENERAL DESIGNATED PITAL TOTAL 2024 TOTAL 2023 FIXED ASSETS Tangible fixed assets Investments 556,000 $56,000 556,000 3,789,365 3,769,365 3,5e5,335 4,325,385 4,325,365 4.121,335 CURRENT ASSETS Debtors and prepayments Cash al bank and in hand 1,164 99,325 400 180,952 76,539 1,183 21,623 77,703 1,183 21,623 100,489 181,440 Creditors. amoullts fallirvJ due within one year 14,075} 15.0091 19.084) (T,2281 NET CURRENT ASSETS 73,628 1,163 16,614 91,405 174,212 NET ASSETS 73,628 1,163 4,341,979 4.416,770 4,295,547 TOTAL FUNDS 73.828 1.163 4,341.079 4.416.770 4,295.547 These accounts were approved by the Trustee8 at their meeting on 17th March 2025 and signed on their behalf CTLENG TRUSTEE
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION SCHEDULES TO THE ACCOUNTS for the yearended 31st DECEMBER 2024 ACCOUNTING POLICIES BASIS OF ACCOUNTING (al The financial statements have b8en prepared under the historical cost convention. as modifigd by th& revaluats.on of fixed assels and the in¢lusioll of investments al market value, the accruals basi5 and in accordance with the Slalemenl of Recomrnended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Fin8nc481 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Rgporting Standard applicable in the United Kingdom and Republic of Ird8TrJ IFRS 1021 and the Chanlies Act 2011. Ibl Advantsge has been taken of the exempb.on available in section 7 of FRS102 in not preparing a stal8mont o INCOME All incoming resources are included in the statement of financiel 8cliviti8s when the charity is entitled to the irna and the amount can be quantrfied with reasonable accuracy. EXPENDITURE Expenditure is recognised on an aGGrual basis as a liability is incurred. Expenditure Includes VAT wttich cannot ba recovered, and is reported as part of the expenditur8 to which il reI8tes.' Direct charitable activity expÉnth'tu eomprises those costs incurred by the charity in the delivery of its activities and services for ils benef1¢18ries Govemance costs include those costs assoaated with meeting the constitutional and st8tulory requirements of the tharity and indude Trustee meeting costs and support and annual accounts costs. TAXATION Capital Gains Tax, bul not from VAT. Irre¢over8ble VAT 18 included in the cost of those rtgms to which it relates. TANGIBLE FIXED ASSETS AND OEPRECIATION The Foundation's only fixed assets comprise freehold properties. No dèpreciab.on is promded since the properties are subject to PericlC revaluations. FIXED ASSET INVESTMENTS 5nveslm8nts are included at dosing mi&market values, as confitm8d by the Inveslmgnt Managgrs. Any gain or loss on revaluallon is taken to the Statement of Financial Actiwlies. INVESTMENT INCOME INCOME TOTAL GENERAL DESIGNATED 2024 TOTAL 2023 Income from Govemmenl & quoted securth.es Interest on bank & Gash deposits 152,998 1,872 152,998 1.889 144,836 616 17 154,870 17 154.887 145,452
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION SCHEDULES TO THE ACCOUNTS for the year ended 31 st DECEMBER 2024 (continued) 3 8 CliARITABLE ACTIVITIES GENERAL DESIGNATED 2024 2023 Direct charitsble activitie5 Property costs Schools costs Youth, Childrtn & Families Workers Grants Support costs Clerk lo the Trustees & secretarial support Professional fees Independ8nl examiner- addluonal accountancy work Bank charges Miscellaneous items Governanc8 Clerk to the Trustees Independent examiner fee 15,992 117,829 86.481 1,886 15,992 117.829 66,481 1,888 10,844 59.722 eo,600 2,500 17,528 1,271 1,350 154 17,528 1,271 1,350 154 15,094 1,116 1.45D 167 203 3,225 500 3,225 500 3,225 500 226,223 226,223 155,421 3 b GRANTS Reci ienls lorganisationsl Reci ienls lindiwdu8ls) 158 1,000 1,500 1,729 1,887 2,500 TANGIBLE FIXED ASSETS 2024 2023 Frèèhold properties Cost or valuation at 3151 Dember 556,000 556,000 Thg frgèhold 18nds were re-valued in Augiisl 2008 by M8ssrs Fisher Geftran, Chort&red Suryeyors. The Trusl88s believe that there has In neg5igibl8 rnovgtnenl in the propety values in the year and are of the opinion that no benefit would be gained by incurring the costs of a professional valuabon. Some of the properties w8 acqulred as long ago as the 17005 and so it is not Possible lo show cost and revaluats.on details as required by FRS102. As there is no Intention to sell any of the properties, the Trustees are of tha opinion that no benèfit would be gained by allempling lo create a Rgvalualion Rgserve. Th8 foundation also owns land in the Parish of Aldridg& used by the Local Education Authority for the provision of schools No value has ever been allnbuted to this lalld which was originally vested in the Trusleas on 29th March 1974 under paragraph 6 of the first schedule to the Education Act 1946.
ALDRIDGE COOPER & JORDAN'S ENDOWED SCHOOL FOUNDATION SCHEDULES TO THE ACCOUNTS for the year ended 31st DECEMBER 2024 {continu8d) INVESTMENTS IAS Fixed assets} 2024 2023 Quoted investments Market value 3,769,365 3,5,335 Book cost 3.232,037 3.076.773 DEBTORS 2024 2023 Tax recoverable PpaymentS and accrued interest 1,147 454 1,164 488 CREDITORS. AiviOUNTS FALLIN DilE WITHIN ONE YEAR 2024 2023 Income received in athance Accruals 1,438 7.846 1,438 5,790 9,084 7.228