ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 REGISTERED CHARITY NUMBER 529109 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS PAGE Trustees, Governors and Advisers 34 Trustees, Report Statement of Financial Activities Balance Sheet 10 Accounting Policies and Notes to the Accounts 11-16 Independent Examinerfs Report 17-18 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 GOVERNORS AND ADVISERS CHARITY REGISTRATION NUMBER 529109 PRINCIPAL ADDRESS Ermy5teds Grammar School Gargrave Road Skipton BD23 IPL TRUSTEES & GOVERNORS The Ermysted's Grammarschool Governors are the Charity Trustees of Ermysted'5 Grammar School. Charity (Yhe Charirfl and have all served in office throughout the year and to the date of the report except where indicated. Mrs J Lloyd {Chairl Mrs S Trelease {Vice Chair) Mr S Clarkson Dr S Humphrey Mrs D Swiffen Mr J Burton Mfs B Sturman Mrs AAhsan Mr B Gamer Mrm Evan5 Prof C Choudhury Ms C Foster Mr C Escot Ms L Capstick Ms N 8allantyne Mrs S Poole Trustee & Govemor Trustee & Govemor Trustee & Govemor Trustee & Governor Trustee & Governor Trustee & Governor Trustee & Governor Trustee & Goverrbor Trustee & Governor Headmaster & Governor Governor Govemor Governor Govemor Governor Govemor CLERK & SECRETARY TO THE TRUSTEES TREASURER TO THE TRUSTEES Mr O Frankland Mrs S J Poole INDEPENDENT EXAMINERS Adrian Lawrence Village Farm Flaxton York Y060 71U 078SO 824313 adrianlawrence outlook.com Page 3119 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 GOVERNORS AND ADVISERS (CONTINUED) BANKERS Barclays Bank plc Leicester LE87 2BB Cooperatrve Bank PO Box 4931 Swindon SN4 4PL SOUCITORS Spencer Dawes 6 Station Road Grassington Skipton BD23 5NQ 114SURERS Zurich Insurance Company Ltd Policy Number: EV976708 INSURERS AGENT Hud50n Foster LLP Ilkley Hall Park Ilkley LS29 9LD Page 4119 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REPORT The Trustees, present their reF)Ort along with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the atcounting policies set out in Note I to the accounts and comply with the Charl￿$ Trustee Deed. the Charities Act 2011 and amendments 2022 and the Statement of Recommended Practite: Accounting and Reporting by Charities IFRS 1021. STRuclliRE. GOVERNANCE AND MANAGEMENT Governing Document The Charity is governed by a Scheme of Management for the khool introduced by the Endowed khoo15 Commission in 1871. The Trust Deed has been amended in subsequent years, the latest amendment being in 1987 which was reviewed and considered frt for purpose in 2016. Recruitment and Training of Governors The Trustee Governors who served during the year are listed on page 3 of these accounts. There are nine Trustees in total comprising seven Foundation Trustees per se. one Foundation Trustee appointed by the School's Parents A55ociation and one Trustee appointed by the School'5 Old 8oys' Society- New Foundation Trustees are elerted by current Trustees. All Foundation Trustee Governors 51t as Foundation Trustee Governors on the School's Governing Board where they hold a majority- Other Governors on the Governing Board who are not Trustees include the Head Teacher and representatives of parents. co-opted, staff and the Local Authority. On elertion. Tru5tee5 and Governors are prowded with access to all documents supplied by the Department of Education regarding their responsibilities as Trustees and Governors. In addition. they are supplied by the School with the information relating to the School Development Plan. School data and current policies which are the statutory requirements for the administration of the School. All Trustees and Governors are expected to form links with areas of the School, for which they may have a particular skill or interest. Organ55atlonal Management The Resources and Finance Committee and the School Improvement Committee meet regular￿ to cover all aspects of running the School and make appropriate recommendations for attion to the Governing Board. The positions of The Clerk, The Secretary and The Treasurer to the Foundation Trust Governing Board are appointed by the Trustees on an annual basis at the Annual General Meeting of the Foundation Trustees, the first meeting of the academic year in the Autumn Term. The Clerk to the Foundation Trust oversees the organisation of the Governing Board and its Committees. Rlsk ManagerneTht The Governing 8oard examines the major risks the School faces each financial year when preparing and updating the School Development Plan and has developed systems to monitor and control these risk5 and the impact they may have on the School in the future. Risk Management is also carried out for all extra- curricular activitie5 such as School trips and in relation to any work carried out on the School premises whether in the form of maintenance or new development. Page 5119 ERMY5TEtYS GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REPORT (CONTINUED) Charltable Objerts The principal object of the Charity is to use the assets of the Foundation to enable Ermysted's Grammar School In the Parish of Skipton in Craven to provide all of its pupils. regardless of background. a highly acadernit education and a broad extra-curricular programme with the aims of building selfints Twelve students achieved a clean sweep of the top grade of A. and 35 students secured two or more A5 or A's. The large majority of students secured a place at their preferred destination. with universities continuing to offer flexibility on the day. FINANCIAL REVIEW AND RESULTS FOR THE YEAR During the year the Income of the Charity was disbursed as shown on the attached Statement of Financial Attivities and the financial position of the Charity is as shown on the Balance Sheet. The Charity is greatly appreciative of the generous support given to the School by the Friends of Ermysted's A55ociation Ipreviously Parents Association) and Errny5teds Old Boys Society- Both of these organisations having supported various Oepartments and the development of facilities during the year. Individual parents and Old Boys. have also generously supported the School via the Development Fund. Foundation Trustees and Governors would not be able to carry out all the workwhich has been accomplished without this support. Investment Policy and Perforrnafice The Trustees Investment powers are governed by the Trust Deed which pem)its the Charity's funds to be invested in any security listed on the London Stock Exchange. At the present time. the Foundation funds are being managed by the Treasurer to the Trustees and are overseen by a Governor appointed by the Trustees on an annual basis at the Annual General Meeting of the Foundation Trust. the first meeting of the academic year in the Autumn Term. Reserves The Balance Sheet Shows the net Assets of the Charity. ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDÉD 31 MARCH 2025 Note 12 of the Financial Ststements describes the nature of the Prize Fund whith is a restricted reserve. TRUSTEES, REPORT {CONTINUEDI PLANS FOR THE FUTURE Due to the age of the original buildings and their knsted Buildings ststus. with the 1930's block, funding will continue to be contentrated on a schedule of maintenance and repairs together with Safeguarding measures. ACCOUNTING AND REPORTIt4G RESPONSIBIUTIES Charitles Act 2011 and amendments 2022 requires theTrustees of the Charityto prepare financial statements for each finanual year which give a true and fair view of the Chariws financial activities during the year and its financial position at the end of the year. In preparing the financial statements the Trustees should follow best practice and.. Select suitable actountinE policies and apply them consistently Make adjustments and estimates that are reasonable and prudent Follow applicable accounting standards and the Charities SORP Istatement of Recommended Prartice}, disclosing and explaining departures in the financial statements and prepare the financial statements on the going concern ba515 unless ft is inappropriate to assume that the Charity will continue in operation. Mr5 Joanne Lloyd Chair of the Foundation Trust emi steds. Date: 9110125 Signed: Mrs Samantha Trelea5e Vice Chair of the Foundation Trust strelease erm steds.uk S*ned: Mr David Frankland Secretary and Clerk to the Foundation Trust dfrankland erm SIKned: Date: 9110125 steds.uk Mrs Samantha Poole Treasurer to the Foundation Trust oole erm steds.uk Date: qliolz( Page 8119 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrkted Total Funds Funds Funds 2025 Total Funds 2024 Notes INCOMING RESOURCES Intomlng resources from generated funds Voluntary Income Investment Income 40.585 6.820 47,405 125,944 112 Incoming resour￿5 from tharitable artivithes Other Income Total Incomlnz Resources 40,585 6￿20 47,405 126,056 RESOURCES EXPENDED Expenditure on charitsble artivitie5 Governance Costs 77,989 1.820 1,020 79,009 1.820 183.556 1,712 Total Resources Expended 80A29 185,Z68 NET {OUYG0114G)IINCOMING RESOURCES 139.224) (33,4241 159.2121 NET MOVEMEKfiN FUNDS 139.224) {33.4241 159,2121 Fund balan￿5 brought forward 2.308,973 13,780 2.322,753 2.381,965 TOTAL FUNOS CARRIED FORWARD Z.269.749 19,580 2,289,329 2,322,753 The notes on pages 11 to 16 form part of these accounts ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 BALANCE SHEET AT 31 MARCH 2025 Unrertrirted Restricted Total Funds Funds Funds 2025 Total Fund$ 2024 Flxed Assets Tangible Assets Total Hxed Assets li 2,155,131 2.155.131 2,155.131 2.223.492 2.223.492 Current Assets Debtors Cash at bank and in hand Total Current A55ets 49 49 134,805 134.854 45.574 56,292 i0iA66 115226 115274 19,580 19,580 Liablllties Creditors falling due within one year Net Current Assets 56 56 19,580 IYI.798 2.605 99,261 115,219 Total A55ets le55 current Ilabllltles 2.270,350 19.S80 2.289.929 2,322,753 Creditors falling due after more than one year io 601 601 Total A55ets less liabllltles 2.269,749 19,580 2,289.329 2,322.753 The funds of the charlty: Restrirted funds Unrestrirted funds Totsl ￿ndS 19.580 19,580 2,269,749 2.289.329 13.780 2.308.973 2,322.753 2.269.749 2.269,749 19.580 The notes on pages 11 to 16 form part of these accounts Approved by the Trustees and slgned on thelr be￿lf by: Date: io 25 Mrs J Uoyd Chalr of the Foundation Trust Page 10118 ERMYSTEO'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS I. ACCOUNTING pouaES a. Charfty Informatlon Ermysted's Grammar School is a charity registered in England and Wales. The registered office is Ermy5ted's Grammar School. Gargrave Road. Skipton BD23 IPL. b. Basls of preparation and assessment of golng concern The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated in the ielevant note515) to these accounts. The financial statements have been prepared in atcordance with the Statement of Recommended Practi￿. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2022. The Charity constitutes a public benefrt entity as defined by FRS 102. The Charity's accounts have been prepared on 3 going concern basis. the Trustees consider that there are no material uncertainties that make the going concern assessment doubtful and that the charity will continue beyond the next 12 months. Funds Strurture Restrirted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. There is a single restricted fund, the Prize Fund, restricted to providing prizes. Unrestricted funds comprise those funds which the trustee5 are free to use for any purpose in furtherance of the charitable objects. d. Income Recognition All income is reco8nised once the charity has entitlement to the income, it is probable that the income will be received and the amount of incorne receivable can be measured reliably. Donations are recognised when the charity ha5 been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds. the income is deferred and not recognised until either those conditions are fully met, or the fuifilment of those condition5 15 wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNT5 FOR THE YEAR ENOED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TOTHE ACCOUNTS ICONTINUEO Income frorn govemment and other grants, whether 'capital' grants or 'revenue' grants is recognised when the charity has enti(lement to the funds. any perfornian￿ conditions attached to the grants have been met, it is probable that income will be receNed and the amount can be measured reliably and is not deferred. Interest on funds held on deposit is included when re￿1vable and the amount can be measured reliably by the chartty, this Is nomially upon notification of the interest paid or payable by the bank. e. Expendlture Recognftlon Liabilities are recognised as expenditure as soon a5 there is a legal or construrtive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliablv. All expenditure is accounted for on an accrual basis. Irrecoverable VAT lrrec0veraE￿e VAT is charged again5f the expendtture heading for which it was incurred. Governance Costs Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. These c05t5 include tost5 related to independent examination and legal fees, together with an apportionment of overhead and support cost5. h. Cash at Bank and In Hand Cash at bank and in hand is held to meet 5hortterm cash commttTnents asthey fall due rather than for investment purposes and includes all cash equivalents held in the form of short- term highly liquid investments. Credltors and Provision5 Creditors and provisions are recoBnised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowin8 for any trade discounts due. Page 12118 ERMY5TED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS (CONTINUED) Tanglble Fixed Assets Tangible fixed assets are initially rnea5ured at CQSt and Subsequently measured at cost. net of depreciation and any impairment1055es. Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis: Land: Freehold: Buildings 2% Straight Line Z. TRUSTEES REMUNERATION ANO RELATED PARTY TRANSACTIONS Trustees received no emolurnent512024-25: £Nil) in the year erKled 31 March 2025. The charity has no paid employees. No Trustee5 or other person related to the charity had any personal interest in any contrart or transaction entered into bythe charity durinethe year12024-25: £Nil}, and no Trustee expenses have been inturred. 3. VOLUhThARY INCOME Total FuTrds 2025 40,585 6.820 Total Funds 2024 3,033 6,897 116,014 125.944 Unrestricted Restrirted Fund5 Funds 40.585 Donations Donations to Prize Fund DfE Grant 6.820 Total Voluntary Income 6.820 47.405 4. INVESTMENT INCOME Total Funds 2025 Total Funds 2024 Unre5trirt￿ Re5trirted Funds Funds Bank Interest Receivable 112 Total Investment Income 112 Page 13118 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS (CONTINUED 5. EXPENDITURE ON CHARITABLE ACTivmES Totsl Total Funds 2024 980 111.485 68,361 Funds Fund5 1.020 2025 1,020 101 68.361 Prize Giving & Founders Day Expenses Grant Earning Expenditure & Repairs Depreciation Photography Expenses Donations to School 10) 68,361 9.628 77.989 9,628 79,(M19 2.730 183.556 1020 6. GOVERNANCE COSTS Total Funds 2025 Totsl Funds 2024 800 604 308 1.712 Unrestrlcted Restrkted Funds Funds Independent Examiners & Audit Fees Clerk Servi￿$ Insurance 313 313 1,820 1.820 7. DEBTORS Total Funds 202*Z5 49 Total Funds 202>24 45,574 Deblors Deferred Grant Debtor Total Deblw 49 45574 8. CASH AT BANKS AND IN HAND Total Funds 2024-25 Total Funds 2023-24 Current Account Appeal Fund Restricted Funds Account 72,998 61,807 42.037 14.255 56.292 TOTAL CASH IN HAND i34￿5 Note.. there 15 no longer o seportrte restrirtedfunds bank accoun¢ this money is reconciled on the (Kmunts ond included in the current/appeal occounts obove. Page 14118 ERMYSTED'S GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS (CONTINUED) 9. CREDITORS FALUNG DUE WITHIN ONE YEAR Total Fund5 2024-25 56 Total Funds 2023-24 2.605 Creditors Deferred Grant Creditor Accruals 2,605 10. CREDITORS FALUNG DUE MORE THAN ONE YEAR Total Fund5 2024-25 601 Total Funds 2023-24 Creditors Deferred Grant Creditor Accruals 601 ERmYSTE￿s GRAMMAR SCHOOL FOUNDATION TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS ICONTINUED) 11. FIXED ASSET5 Freehold Buildings 2024-25 Freehold Buildin8S 2023-24 Cost: As at l April 2024 3A18.261 3.418.261 Additions As at 31 March 2025 3.418 261 3,418.261 Depreciation: As at l April 2024 1.194.769 1.126.408 Charge for the year 68,361 68.361 As at 31 March 2025 1263,130 1,194.769 Net book value: As at l April 2024 2.223.492 2,291.853 As at 31 March 2025 2.155.131 2,223,492 12. Fixed assets include buildings construrted after 1959. Prior to that year it is not possible to reliably determine the cost of the construction. The School lands were endowed to the School in the 16 Century. Parts of the School land were sold many years ago to finance the building of a new School on the present site in 1875. The cost of the remaining land is included in these accounts as it cannot be reliably measured. In both cases It is impractical to measure the fair value of the above and the costs of valuation outweigh the benefit to users of the accounts and the charrty. 13. PRIZE FUNO The prize fund is a restricted reserve. The income it generates is itemised in notes 3 and 4 of the financial statements. Expenditure associated with the fvnd 15 Shown in note 5 as prize givin8 and founders day expense5. Page 16118 INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2025 I report on the financial statements of the charity forthe yearended 31 March 2025 which are set out onpa8es 9 to 16. The report Is made 501ely to the charity's Trustees, as a body. in accordance with section 145of the Charities Act 2011 and regulations rnade under section 154 of that Act. My work has been undertaken so that I might state to the tharivs Trustees those matters l am requlred to state to them in an independent exominees report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone otherthan the charity and the charity'sTrustees a5 a body. for mywork or for this report. RESPECTIVE RESPONSIBILMES OF TRUSTEE5 ANO EXAMINER The tharivs Trustees are ￿sponsible for the preparation of thè financial statemen15. and they conslder that an audit is not required for this year under section 14412} of the Charities Art 2011 {the Actl and that an independentexamination is needed. It is my responsibilityto: Examine the financial staternents undersection 145 of the Act. Follow the procedures laid down in the general DIreCt￿n$ 8iven by the Charity Commisslon undersection 14515llbl of the Act: and Statewhether particular matters have corne to myattention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carrled out in accordance with general DSrect¥)ns glven by ihe Chartty Commi55ion. An examinatton inclwles a ￿VIeW of the accounting records kept by ihe charity and comparison of the financial 5tatement5 presented with tknse records. It also includes consideration of any unusual items or disclosures in the financial statements. and seeking explanations from you s Trustees concerning any such matiers. The procedure5 undertaken do not provlde all the evidence that y￿Uld be required in an audit. and consequently no opinion is given as to whether the financial statements present a 'true and fair vlew. and the report is limitedto those matters set out in the statement below-. INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2025 (CONTINUED) INDEPENDENT EXAMINERS STATEMENT In connection with an examination. no matter hos come to my attention: l. Which gives me reasonable Cause to beliLwe that in any materlal ￿SpeCt the requirements: i. To keep accounting records in accordance with settron 130 of the ACL. and ii. To prepare financial statements which accord wlth the accountln8 records and comply with the accountin8 requirements of the Act have not been met: or 2. To which. in my opinion. attention should be drawn in order to enable a proper understaftding of the financial statements to be reached. Signe Date.. Adrian Lawrence MBA Accountant Willage Farm, Flaxton. York Y060 7AJ 07850 824313 èdrianlawrence@outbjok.com