| LEEDSGRAMMAR SCHOOL AND | LEEDSGRAMMAR SCHOOL AND | |
|---|---|---|
| LEEDSGIRLS' HIGH SCHOOL FOUNDATION | ||
| REPORT AND FINANCIAL STATEMENTS 2020 | ||
| CONTENTS | Page | |
| Trustees' report |
||
| Statement ofTrustees' | responstbBtttes | |
| Independent auditor's |
report | |
| Statement offlnanelal | aettvtties | |
| Balanee sheet | ||
| Cash Flow Statement | IO | |
| Notes to the flnanctat | statements |
| We | have nathing toreport in this regard. | have nathing toreport in this regard. | have nathing toreport in this regard. | |||||||
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| Matters on which we are required | to report | by exception | ||||||||
| We | have nothing to |
report in respect afthe | following | matters | in relation | to | hich the Charities | (Accounts | and | |
| Reports) Regulations | 2008 require | ua to report to you if, | in our opinion: | |||||||
| ~ | the mfarmatian | given in the | Trustees' | Annual Report is inconsistent | in a~ay | material respect with the fintmcial | ||||
| stab:ments; | or |
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| . |
IEEDSGRAMMAR SCHOOL AND | |||||
| LEEDSGIRLS' HIGH SCHOOL FOUNDATION | ||||||
| CASH FLOW STATEMENT | ||||||
| For the year ended 31Angnst 2020 | ||||||
| 2020 | 2019 | |||||
| ~t | ||||||
| Net cash Ilows from operating activities |
A | (989,126) | (116,979) | |||
| Cash ilaws from inveshng activitiesr |
||||||
| Dividends dt interest received |
1.53,694 | 173,856 | ||||
| Proceeds irom sales ofinvtnnnents | I@97,933 | 634,693 | ||||
| Porcbase ofInvestments | (1460442) | (705,702) | ||||
| Proceeds Irora sale ofGxed assets | 740 000 | |||||
| Change in cash io.the year | 42,159 | (14,132) | ||||
| Cash at the beginning ofthe year | 106,25$ | 120090 | ||||
| Cash at the end ofthe year | 148,417 | 106358 | ||||
| Cash.and cash eqnivalents are represented |
by bank balances | and cash | ||||
| NOTE A:RECONCILIATION | OF NET INCOMING | RESOIIRCESTO NET CASH INFLOW | FROM | |||
| OPERATING ACTIVITIES | ||||||
| 2020 | 2019 | |||||
| Net (expenditure)/income for the year |
(2,135,163') | 95,610 | ||||
| Interest )ik dividends receivable |
(153)694) (173,856) |
|||||
| (Prolit) on disposal offixed assets | (321,787) | |||||
| Impairment ofasset |
96,449 | |||||
| Loss/(gain) on invcseneou |
49)SS3 | (so,os4) | ||||
| (Decrease)/increase in creditors eiyr |
(11&018) | 12,395 | ||||
| Decrease/(increase) in debtors |
1,486,204 | (1,044) | ||||
| Net cash (outgow) Bom operating | activities | (989,126) (116,979) |
| ES TO' THE FINANCIAL STATEMENTS he year estded 31August 2020 |
|
|---|---|
| Other expenditure represents espenditure incurred m the management of |
he charity's assets, organisational |
| administration. and compliance with constitutional and stacmory require |
eats. Administration services are |
| provided by the Grammar School at Leeds &ee afcharge and it is not posst |
le to determine a reliable value of |
| these donated services. | |
| Fund accounting | |
| The trust holds the following funds: |
|
| ~ Utuestricted funds - these funds can be used in accordance with the oharikk le objects at the discretion ofthe |
|
| Tfustees. | |
| ~ Restricted funds - these funds can only be used for particular restricted |
purposes within the objects of the |
| trust. Restrictions arise when specified by the donor' or when funds gg raised for particular restricted |
|
| purposes. | |
| ~ Permanent endowment funds - income generated &om these fimds ma)s |
be used in the urtherance of the |
| objects ofthe trust, but the capiud must be retamed. | |
| Tangible fixed assets | |
| Freehold properties are stated inthe balance sheet at cast orvalue atthe date tIfreceipt. |
|
| upied by tile Grammar School at ear. The~s cansider that the depreciation is insignificant. qhe No depreciation has been provided on the freehold land. at Aiwcodley (occ Leeds) or on the land and buildings at Headingley, that were sold chning the) residual values based on cost at the time of occupation are such that their |
|
| ent in accordance with Financial ' al cast ofthe property. property at 339 Hmragute Road, Alwaodley has been reviewed for impairjn Repartiog Standard 102.Any impairment identified is charged against the oriijm |
|
| A review of remaining fixed assets led to the various small pieces of lang |
owned on Herrogatc Road being |
| written down tonil value. | |
| Investments | |
| Investmeots are stated at market value. Realised and unrealised gams and. |
losses are shown separately in the |
| appropriate section ofthe statement offmancial activities. |
|
| Concesslonary loans |
|
| Concessionary loans are initially measured at the amount received ar paid. |
In subsequent years, the carrying |
| amount of concessionary loans is adjusted to reflect any accrued IntereIt |
payable or receivable, less any |
| hnpainnent loss. Fleanclal instruments Financial assets and financial liabilities are recognised when the charity |
mes a party to the~I |
| provisions of the instrumenL All financial assets aud liabilities are initial y measured at transaction price |
|
| (mcluding tnmsaction costs). |
|
| The charity only has financial assets and financial liabifities ofa ldnd that qup lify as basic financial instmmcnts. |
|
| Basic financial instruments are initially recognised at transaction value and snbsequently measured at their |
|
| settlement value. | |
| Taxation | |
| As aregistered chmity the Foundation is exempt &om income tax on its chari |
le activities. |
| Critical accounting judgements and key sources ofestimation uncertaintlt |
|
| ve, the Trustees are required to In the application ofthe charity's acccunting policies, which are described 44 |
|
| oudce judgements, estimates and assumptions about the carrymg amounts ofas |
sets and liabilities that me not |
| readily apparent from other sources. The estimates and associated assumptionk |
are based an historical experience |
| &Ram these estimates. and other factors that are considered to be relevant. Actual results may differ |
| LEEDS GRAlVKVIAR SCHOOL AND | LEEDS GRAlVKVIAR SCHOOL AND | LEEDS GRAlVKVIAR SCHOOL AND | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| , | LEEDSGIRLS' HIGH SCHOOL FOUNDATION | |||||||||||||
| NOTES TOTHE FINANCIAL STATEMENTS | ||||||||||||||
| . | For the year ended 31August 2020 | |||||||||||||
| Additions | 1360,342 | 7D5,7D2 | ||||||||||||
| Disposal proceeds | (1397,933) | (634,693) | ||||||||||||
| Net realised investment (losses)/gains |
(92,108) | (19,096) | ||||||||||||
| Net unrealised invcstrocnt (tosses)/gains |
(147,702) | 62,620 | ||||||||||||
| Net tmnsferbetween investments and cash deposits |
189,927 | 6,560 | ||||||||||||
| Market value at31Augast20M | 4,813,060 | 5,0D0,534 | ||||||||||||
| Cost as at 31August 2020 | 4,404,641 | 4.334,185 | ||||||||||||
| Investments comprise the following: |
||||||||||||||
| Inve shllents | 4,551,I89 | 4,928,589 | ||||||||||||
| Cash beld by investmeot managers |
261,871 | 71,945 | ||||||||||||
| Market value at31August 2020 | 4,813.060 | 5,000,534 | ||||||||||||
| Investments are revalued at mid. market |
value | atthe | year | end. | All | investmengn | are held within restritued funds. | |||||||
| . | 5. | ngirrolts | ||||||||||||
| 2020I | 2019 | |||||||||||||
| Amounts falling due within one year |
||||||||||||||
| Prepayments | 45499 | |||||||||||||
| Due frmn Grammar School atleeds |
12,732 | |||||||||||||
| 12,732 | ||||||||||||||
| Amonats falling due aBer more than |
one year | |||||||||||||
| Amount duc &om the LGS General Charitable |
Trust | 10300,000 | 10,900,00D | |||||||||||
| Amount due &om the Morley House Trust |
1,500;000 | |||||||||||||
| 10,900,000 | 12,400,000 | |||||||||||||
| The-amount off10tt00,000 due &om the LGS General | Charitable | Trust is m | ade up ofthree amounts. | f6,050,000 | ||||||||||
| S Grauunar Scbool Moorland Road 4e land at Alwoodley Gates, Leeds relates to the equality ofexchange resulting kern the exchange of the Lead site, the Junior School property and the Playmg Fields site at Lawnswood for, |
||||||||||||||
| with the University ofLeeds. 6750000relates tc aloan |
made by the Foun | d~diou to the Trust m connection wilh |
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| the building project on the Alwoodlcy |
site. | An additional | amount off4, | 1 | ()0,000 arose during 2014 and 2015 | |||||||||
| from the sale proceeds relatmg to the |
Headingley | site which | svere loaned | the Trust. The loan. |
ammgements | |||||||||
| were revised in April 2007 such that |
it is interest-Bee, | unsecured and du |
to bo repaid iu one amount on 31 |
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| December 2067, with an option to make prepayments | atter 31December 202 | . |
| REDI | TORS | S | AMOUNT | S FAL | LI | NG DUE AFTER.ONE | YEAR | |
|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||||
| Loan | fiom | the | Grammar | School | at | Leeds | 2,642v363 | 2,642363 |
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