THE NORMANTON FREESTON FOUNDATION 1 Home Fami Court Bretton Wakefield West Yorkshlre WF4 4TR Registered charlty 529279 UNAUDITED ACCOUNTS YEAR ENDED 31 AUGUST 2022
THE NORMANTON FREESTON FOUNDATION ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 Page Trustoes. report Independent exarninerfs report Re¢elpts and paymonts account statement of assets and liabllltle8 Notss to the accounts
PAGE 1 THE NORMANTON FREESTON FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Aims, objethos and activities The objects are, for the benefft of the public." to ao*nce &yUtIjn through.. the provision of a site in Nonnanton. West Yorkshire for an educational in5titub"on,' and furthering the educalK)n of any person attending any educational institution conducted on the ¢hanVs property by the award of prizes {or other sutsble reward). and giving grants. bursaries or other payments to beneficiaries who are in ed of finanoal assistan (or to educational insb"tuty'ons attended by such beneffioariesl", and in providing ffinancial or other assistsnce to such beneficia¥ies lo assist their entry into a profession. trade or calling or to enable them to travel abroad to pursue their educab'on. to p¥KIe arKI support eduLztional, recreational or ancillary faGilibes and services for the benefft of Ihe benefick8ries and the inhabitants of the area of tenef The School of the Foundation is Outsvcoj Academy Freeston at Favell Avenue Nomanton. structure• govemance and management The Foundation is governed under the power given in the Charities Act 1993 by a scheme made on 18 March 2002 as amended on 14 October 2011. when a corporate tnjstee was appointed. Each of the direclors is appointed as fcsllows= Directors at the date of this report Up to of whom at least one shall a woman. by the Master and Fellows of Univer5tty College Oxford Mr A M Taylor Mrs E E Underwood Up to one by the Couniil of the Unrversty of Leeds Mr S A Patel Up to of whom one shall be a vKsman. by Wakefiekl Metropolitsn District Council as Lal Edu¢ation Authority Mr B D Thaler (Vice Chaim)anl One vacancy
PAGE 2 THE NORMANTON FREESTON FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Up to three ofwhorn at least one shall be a woman and of whom one shall be resident in Atkoft3, by the Nofmanton Town Council Mrs H E Hudson Mr B Mayne Mr K Wilson Ichaimianl Up to one by the Wam)field cum Heath Parth Council Mrs M I Vasey Up to one by the Shartston Parish Counul Vacancy Up to three COwOPted directors Mrs S E Blezard Mrs L J Huddlestone Reverend A Murray The directors meet every months. Their tern of Offi is three years apart from Ihe C(pOp directors whose tem is four years. The charitys advisors are.. Corporate trustee . The Nomianton Freeston Foundation Trustee Limited Clerk - Mr J C Brearton FCA 1 Horne Fam Court Bretton Wakefiekl West Yorkshire WF4 4TR Bankers- Barclays Bank Trin"ty Walk Shopping Centre Teall Way Wakefiehy West Yorkshire WF1 1QS Solicitors- Catteralls 15 King Street Wakefield West Yorkshire WFI 2SL Accountants - Hansons St Oswald House St Osvrakl Street Castteford West Yorkshire WF10 1 DH The charitys investment managers are: BlackRock Fund Managers Limrted PO Box 545 Darlington County Durham DL1 9TQ CCLA Investment Management Limited One Angel Lane London EC4R 3AB & G Charrties PO Box 9038 Chelmsford Essex CM99 2XF Reserve5 policy After Ihe payment of any expenses of administration the net yeaty income of the Foundat"on is applied by the directors as follows: Grants for the educational benefft of the wpils of Ihe Academy GCSE awards Travel bursaries Freeston Foundatson schdarships Since March 2020, the effects of the Covid-19 pandemic have reduced the income of the Foundation. The war in Ukraine and general worfdwide inflab.on have also contri Mr K Wilson MrBD Director The Nomianton Freeston Foundation Trustee Limited Director The Nomianton Freèston Foundation Tnjstee Limitod 19 September 2023
PAGE 3 THE NORMANTON FREESTON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE ON THE UNAUDITED ACCOUNTS I report on the accounts of the Ghanty for the year ended 31 August 2022 set out on pages 3 to 8 This report is made solely to the trustee in a¢[dan wih 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 required to state in an indepen(Jent examinerfs rewrt and for no other purpose. To the fullest extent peThitted by law. I do not actspt or assume reswnsibilty to anyone other than the trustee for my examinats"on, for this report or for the opinion I have formed. Respective responsibilities of trustee and independent examinor The charity's trustee is responsible for the preparation ofthe accounts. The trustee considers thai an aud(t is not required for this year under section 144(2) of the Act and that an independent examinatson is required. It is my responsibility to.. examine the accDunts under section 145 ofthe Art to follow suGh pr¢JGedures ld down in the General Directions given by the Charity Commission under section 145{51 {bl of the Act,. and to state whether parbcular matter5 have come to my attention. Basls of Independent examlnefs rei My examinab'on was carried out in a¢eordanee vth the General Directions grven by the Charity Commission. An examination indudes a review of the accountsng records kept by the chaTty and a comparison of the accnunts with those recnrds. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustee conmIng any such matters. The procedures undertaken do not provide all the eviden that would be required in an audit. and consequenlty no opinion is given as tr) whether the accounts present a true and fair vw and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, matter ha5 come to my attentK)n'. {11 which gr¥es me reasonable cause to believe that in any material respect the requirements to.. keep accounb.ng records in aCrdance section 130 of the ACL and prepare a(xounts which accord with the accounting records and compty th the accounts.rbg requirements of the Act have not been met," or {21 to which, in my opinM)n, attention should be drawn in order to enab a proper understanding of the accounts to be reached. Mark Andrew Upex BA FCA Hansons St Oswald House St Oswald Street CASTLEFORD West Yorkshire WF10 1DH
PAGE 4 THE NORMANTON FREESTON FOUNDATION RECEIPTS AND PAYMENTS ACCOUP FOR THE YEAR ENDED 31 AUGUST 2022 2022 2021 Incoming resources Cambridge & Counties Bank interest Hodge Bank interest Hampshire Trust Bank interest Income from investmen15 Income tsx refund Sale of investments Refund of escrow funds and disbursements Pingle Field exclusivty payment John Freeston trust Wayleave (every 10 years) Total incoming resourc 478 179 980 321 300 37,009 1,394 3,818 10.000 35,244 23 73,877 111,857 Resources expended Purchase of investrnents Section A ftjnding Section B funding Pingle Field sale costs Payments for education purposes Management expenses Totsl outgoing rQr¢05 52,110 118,6231 14,181 252 4,510 6.803 59,233 17,689 20,356 2.250 6.865 100,858 Nel receipts for the year 10,999 14,644 Reconciliation of funds Total funds brought forward 259,203 244,559 Total funds carried foThYdrd 270,202 259,203
PAGE 5 THE NORMANTON FREESTON FOUNDATION STATEMENT OF ASSETS AND UABILrriES AS AT 31 AUGUST 2022 Total funds Prior year fvnds Cash fvnds 270.202 259,203 Loan 1(10.01)o 100,000 A secured loan was made to the Freeston and Sagavs Amshouses (FSA) ffijst for one year carying interest al 10.10. The loan and interest were rolled over at maturity for another 12 months to 5 May 2022 at which dale FSA asked for and was granted a final repayrnent date of 5 September 2022,. this dale too wa5 missed although £10,CNJO was r1ved. A FKopos21 by FSA to the Foundation to accept a lower amount of interesl was agreed by the FoundalM)n on 21 March 2023. As at 19 September 2023 nothing has been received. Mrs S E Blezard. Mr B D Thaler. Mr K Wilson and Reverend A Murray are trust$ of FSA and also diredors of The Normanton Freeston FourKlation Trustee Limited. Inve5tm?nt assots Cost 647.128 594,958 Market value 1.061.068 1.104.270 Assets retained for charity's own use Ouknd Academy Freeston land and buildings together with detached playing fields Land at Beckbridge Normanton Liabiliti05 Clerk's salary: 6 months to 31 August 2022 2,750 Accountants. fees.. Year ended 31 August 2022 360 360 Solicitors. fees Sale agreement for Pingle Field 3.919 7.279 3.110
PAGE 6 THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 1 Accounting pollcles Unrestricted funds are those %thich are available for use 8t thè direcb.on of the directors in furtheranco of the geneol obiecbves of the Fndation arKI vthich have not been desgnated for other purpose8. 2 Income from Investments 2022 2021 Charities UK Equity A Income Charpties UK Bond A Income COIF Charities Income Charrfund Income British Land Company plc Cineworfd Croup plc Edinburgh Investment Trust plc F & C Investment Trust plc GSK plc Pennon Group plc Residential Seeure Ineome rdc Scottish Mortgage Trust plc Unilever plc Vistry Group Warehouse REIT plc J D Welherspoon pl¢ Witan Investment Trust pl¢ 28676.200 units 36305.227 un¢ls 13096.620 units 28515.953 units 1911 25p ord shares 18742 1 p (xd shares 3959 25p oro shares 2520 25p (d shares 421 31.25p ord shares 845 61.05p ord shares 9348 1p ord shares 1074 5p ord shares 187 0.311 p ord shares 874 50p ord shares 9582 1p ord shares 1085 2p ord shares 9556 5p ord shares 6.398 2.178 7.081 22,528 174 5.853 2.360 6,858 19,391 958 325 1,062 301 300 98 307 21 136 162 307 267 531 42,248 258 37,009 3. Sectlon A funding 2022 2021 Art and photography sketchbooks Ariwork for exhibitions Books for Year 6 stLKler Discretionary Travel and trips Speech day prizes and awards Founderfs day expenses Photography and arfvrk GCSE awards 1.998 (2.0001 121 {1.8001 112,6001 {1.100) 170) 2.000 130 11,0501 118.6231 17,689
PAGE 7 THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 4. Payments for educallon purposes 2022 2021 Higher education awards Directors, awards Allan Blaza music awards 2250 4,550 (401 2,250 4,510 5. Management oxp8nsoS 2022 2021 Clerk's salary Postages and stationery Accountants, fees Land registration Brokers. charges 5,750 179 5,500 169 360 680 120 6.865 6,803 6. Cash funds Total fun(ts Prior year funds Term5 Cambridge & Counties Bank Hodge Bank Barclays Bank interacts've investor 95 day noti 90 day notice instsnl asS instant access 82,247 45,000 131,401 555 259,203 267.959 2,243 270,202
PAGE THE NORMANTON FREESTON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 7. Investment assets - market value Cost Matket value 2022 2021 BlackRock Charities UK Equtty A Income BlackRock Charities UK Bond A Income CCLA COIF Charities Investment Income M & G Equrties Investment Fund for Charl$ British Land Company plc cinew0d Group plc Edinburgh Trust plc F & C Investrnent Trust plc GSK plc Pennon Group plc Residential Secure Income plc Scottish Mortgage Investment Trust plc Unilever plc Vistry Group plc Warehouse REIT plc J D Wetherspoon plc Witan Investment Trust plc 82,083 63,113 82,485 265,381 10,171 10,OLX) 19,211 17,958 6,6C 10,089 10.094 12,046 8.220 7,636 11.252 10.OCh) 20,783 647.128 193,564 $5,910 251,670 418.090 8.238 525 23,239 22,252 5,836 7.901 9.862 8,865 7.367 6.712 14.775 5.239 21.023 1.061,068 202,741 68,617 263,796 445.194 23,413 22,307 7,445 14,814 7,401 9,905 15,128 23,509 1,104,270 With effect frorn 1 August 2023 Cineworld Group plc cancelled its listing of ordinary shares from trading on the London Stock Exchange and entered administration.