|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.|||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||t|||| |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||||||||| ## ## ## |jl|XRg
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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||||| |||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|| |||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| ## ## ## |||||CC|OC ttt Ct||||Ct| |---|---|---|---|---|---|---|---|---|---| ||||||||||tCt| ||||||||||CtC| |||||m|||||| ||||||~CIo~||||| ||||CCI"|rot
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