THE NORMANTON FREESTON FOUNDATION 1 Home Fami Court Bretton Wakefield West Yorkshire V¥F4 4TR Registered charity 529279 UNAUDITED ACCOUNTS YEAR ENDED 31 AUGUST 2021
THE NORMANTON FREESTON FOUNDATION ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Contents Page Tru8tee8' report Independont oxamlnefs rnport Recelpts and payrnents account Stat•m•nt of a•80ts and Ilabllltlgs Not08 to the accounts
PAGE 1 THE NORMANTON FREESTON FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Aims. objoctivos and activities The objects are. for the benefit of the publ.. to advance educatv)n through.. the provision of a site in Nom)anton, West Yorkshire for an educational institution.. and fttrthering the education of any person attending any educats'onal instslutson conducted on the chariVs property by the award of prizes lor cther suitable reward).. and giving grants, bursaries or other payments to beneficiaries who are in need of financial a5515tsnGe lor to educatsonal institutions attended by such t*neficoriesl', and in providing financial OT Other assistance to such benefriaries to assist their entry into a profession. trade or calling or lo enaue them to travel abroad io pursue their edLIcatn. to prOVe and support educational. CreatiOnal or ancillary Pacilities and services for the benefft of Ihe beneficiaries and the inhabitants of Ihe area of benefit. The School of the Foundation is oU0j Academy Freeston at Favell Avenue Nomianton. structur01 govemanco and management The Foundation is govemed under the power given in the Charibes Act 1993 by a scheme made on 18 March 2002 as amended on 14 October 2011. when a corporate trustee was appointed. EaGh of the diwtors is appointed as foll¢)ws-. Directors at the date of thi8 report Up to of whom at least one shall be a woman, by the Master and Fellows of Univetsty College Oxtord MrA M Taylor Mrs E E unde0d Up to one by the Council of the Unoversty of Leeds Mr S A Patel Up to of whom one shall be a woman, by WakefEld Metropolitan District Council as L(xal Education Authority MTS S E Blezard Mr B D Thaler Ivtt Chaimian)
PAGE 2 THE NORMANTON FREESTON FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Up to three ofwhom al least one shall be a woman and of whorn one shall be resident in Atofts, by the Normanton Town Council Mrs H E Hudson Mr B Mayne Mr K Wilson Ichaimianl Up to one by the Warmfield cum Heath Pansh Council Mrs M I Vasey Up to one by the Sharlston Parish Council Up to three co-opted directofs Mrs L J Huddlestone Reverend A Murray The directors meet every ts¥o month5. Their term of office is the years apart from the ctropted directors whose term Is four years. The charity's advisors are". Corporate trustee- The Normanton Freeston Foundation Trustee Limited Clerk - Mr J C Brearton FCA 1 Horn& Farm Court Bretton Wakefielj West Yorkshire WF4 4TR Bankers- Barclays Bank Trinity Walk Shopping Centre Teall Way wakerd West Yorkshire WF1 1QS Solicitors - Catteralls 15 King Street Wakefield West Yorkshire WF12SL Accountants - Hansons St Oswald House Sl Oswald Street Castlef(Kd Wésl Yorkshire WF10 1 DH The charity's investment managers are.. BlackRock Fund Managers Limited P O Box 545 Darlinglon County Durham DL19TQ CCLA Investment Management Limited 8S Queen Victoria Street London EC4V 4ET M & G Charitses P O Box 9038 Chelmsford Essex CM99 2XF Ros8r•es pollcy After the payment of any expenses of administrat the net yearly income of the Foundation is applied by the directots as follows.. Grants for the educational t*nefft of the pupils of the Academy GCSE awards Travel bursaries Freeston Foundabon hOlarShIpS Since March 2020, the effects of the Covid-19 pandemic have reduced the income of, and hampered the running of, the Foundation. Mr K Wilson Director Tho Nomionton Fre•ston Foundatr"on Tru% Limited MrB Director Tho hlorm2nton Fr9eO Foundation TnJstpe Limited aler 10 November2021
PAGE 3 THE NORMANTON FREESTON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE ON THE UNAUDITED ACCOUNTS I report on the accounts of the charity for the year ended 31 August 2021 sel out on pages 3 to 8. This report is made solety to Ihe trustee in accordan with section 145 of the Charities Act 2011 (the Act). My examination has been undertaken so that I might stste to the trustee those matters l am requirad to state in an indepèndent examine¢s rèport and for no other purpose. To the fullest extent pefmitted by law. I do not accept or assume responsibility to anyone other than the trustee for my examination, for this report or for the opinion I have forned. Respectlvo responslbilities of trustee and Independenl examlner The charity's Iruslee is responsi1e for the preparatn of the accounts. The trustee considers that an audit is not required for this year under seth'on 144121 of the Act and that an independent examination is required. 11 is my responsibility lo.. examine the accounts under Sect 145 of the Act,. to follow such procedures laid down in the General Directions given by the Charity Commission under sectson 145151 Ibl of the Act", and to state whether partbcular matters have come to my attenbon. Bas18 of Ind8pendent examln•rf8 report My examination was carried out in a¢cordance the General Directions givgn by the Chanty Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. St also includes nSIderab"On of any unusual items or disclosures in the accounts. and seeking explanatsons from the trustee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limrted to those matters set out in the statement below. Independont •xamlnerf$ staternent In connectson with my examination. no matter has corne to my attentb)n'. 111 whlch gives me reasonable cause to believe that in any material respect the requirements to.. keep accounting records in accordance with sects.on 130 of the Act," and prepare accounts which accord the a¢Unknng records and comply with the accounting requirements of the Act have not been mel,. or 121 to which, in my opinion, attent¢on should be dravm in order to enable a proper understanding of the accounts to be reached. Mark Andrew Upex BA FCA Hansons St Oswald House St Oswald Street CASTLEFORD Wesl Yorkshire WF10 1DH
PAGE 4 THE NORMANTON FREESTON FOUNDATION RECEIPTS AND PAYMENTS AccouKr FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 Incomlng resources Cambridge & Counb'es Bank interest Secure Trust Bank Inte5t Hodge Bank interest Hampshire Trust Bank interest Barclays Bank interèst Income from investments John FestOn trust Wayleave (every 10 years) Totsl Incornlng mourco8 980 1,378 321 300 384 1.008 37.009 35,244 23 73,877 38,409 39,577 81,704 Rosources expended Loan Purchase of investments Section A funding Section B funding Pingle Field sale costs Payments for education purposes Management expenses Total outgolng resources 100,000 49,786 41,216 59.476 52,110 118,6231 14,181 252 4,510 6,803 59,233 3,230 5.668 259,376 Net receipts for the year 14,644 {177,6721 Reconciliation of funds Total funds brought fofward 244,559 422,231 Total fvnds carried forward 259.203 244,SS9
PAGE 5 THE NORMANTON FREESTON FOUNDATION STATEMENT OF ASSETS AND LIABILrriES AS AT 31 AUGUST 2021 Totsl funds Prior year funds Cash fund8 259,203 244,559 Loan 100,OIJO 100,000 A secured loan was made to the Freeston and Sagals Almshouses trust for one year carrying Interest al 10%. The loan and interest We rolw over at matunty for another 12 months to 5 May 2022. Mrs S E Blezard, Mr B D Thaler, Mr K Wilson an(1 Reverend A Murray are trustees of the Freeslon and Sagarfs Almshous8S trust and also direetors of Thè Nomanton Freeslon Foundats'on Trustee Limrted. Invoslment assets Cost 594,958 $42,848 Market value 1.104,270 857,564 Assets retained for ¢harlty'8 own use 000d Academy Freeston land and buildings together vrith detached playing fields. Land at Beckbridge Normanton Llabilities Clerk's salary- 6 months lo 31 August 2021 2.7SO 2,750 Accounlanls fees.. Year ended 31 August 2021 360 3.110 3.110
PAGE 6 THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR EHDEO 31 AUGUST 2021 1 Accountlng pollcl•s Unfeslricted funds are which are available for use at tr* direthon of the directors in furtherance of the general objectives of the Foundation and which have been designated for other purposes. 2 Incomo from inv•strn•nts 2021 2020 Ch8ri1ies UK Equlty A Income Charities UK Bond A Income COIF Chanties Income Charifund Income Warehouse REIT plc Gl8xoSrnilhKline plc The Edinburgh Investment Trust plc F & C Investment Trust plc Witan Inveplmenl Trust plc Scottish Mortgage Trust plc Vislry Group pk Unilever plc 28676.200 units 36305.227 units 13096 620 units 28515.953 units 9281 Ip ord share 506 25p or(J shares 3807 25p ord shares 2484 25p ord shares 9329 5p ord shares 1070 5p ord $hare$ 822 Sop ord Shares 183 0.3p ord shares 5,853 2,360 6,858 19.391 307 300 1,062 301 5,705 3.026 6,723 22,955 21 162 136 37,009 38,409 3. Sectlon A fvndlng 021 Art and photography sketchbooks ArtWOTk for exhibitions Books lor Year 6 students Discretionary Travel and trips Speech day prizes and awards FoundeT'S day expenses Photograpmy and athork GCSE awards 4,505 2,000 5,999 3,515 16,945 4,587 70 t,545 2,050 41,216 12.0001 11,8001 112.6001 11.11)01 1701 11.0501 118.6231
PAGE 7 THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Payments for education purposes 2021 2020 Higher education awards Directors, awards Ailan Blaza music awards 2,250 980 4.510 3,230 5. Management gxpon¥oS 2021 2020 Clerk's salary Postages and stationery Accountsnts, fees Land Registry fee Bank charges 5,041 115 510 169 360 6,803 5.668 6. Cash fund8 Total funds Prior year funds Tems Cambridge & Counties Bank Hodge Bank Hampshire Trust Bank Barclays Bank interactive investor 95 day nolKe 90 day notice 120 day notice instant access instant access 82,247 81,267 45,000 75,000 43,080 212 244,559 131,401 555 259.203
PAGE 8 THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 7. Investment asset8 - m•rkot value Total funds Prior year funds 81o¢kRoGk Charities UK Equity A Income BlackRock Charities UK Bond A Income CCLA COIF Charities Investment Income M & G Equities Investment Fund for Chanties Warehouse REIT plc GlaxoSmilhKline plc The Edinburgh Trust plc F & C Investment Trust plc Witan Investment Trust plc Scottish Mortgage Investment Trust plc Vistry Group plc Unilever plc 82.083 63,113 82,485 265,381 10,774 7,735 18,259 17.644 20,255 12.009 7,149 8.071 594.958 202,741 68,617 263,796 445,q94 15.128 165,748 70,432 224.099 348,528 7,189 7,341 16,923 17,304 23.413 22.307 23.509 14.814 9,905 7.401 1.104.270 857,564