2021-03-31-accounts

Annual Report 2021 - Dewsbury Endowed Schools Foundation Trust

Kirklees Directorate for Children and Young People

Dewsbury Endowed Schools Foundation Trust Annual Report for the year to 31 March 2021

The Annual Report and the Annual Accounts are open to inspection by any person.

1. Reference and administrative details of the Charity, its trustees and advisers

Full name of Charity : The Dewsbury Endowed Schools Foundation

Registered Charity Number: 529328

Governing document : The Trust Deed dated 16 February 1993 as amended by the scheme dated 8 May 2018.

Main address: Director for Children and Young People, Kirklees Council, Civic Centre 3, Market Street, Huddersfield, HD1 2EY

Objects of the charity : Promoting the education, including social and physical training, of persons between the ages of seven and twenty-five years who are resident in the area of the former County Borough of Dewsbury.

Public benefit : The Trust is required to take account of the Charity Commission Guidance on Public Benefit. The test of public benefit is formally considered as an agenda item at the end of each meeting of the working party and a declaration confirming compliance with the public benefit test is recorded in the minutes.

Trustee: Kirklees Council is Trustee and was advised in the Trust’s affairs by a working party consisting of the following local people:

Councillor M Ahmed, Mr P Ellis, Councillor E A Firth, Ms F Ishaq, Mr K Mallinson, Ms M Winterburn.

Chair of Working Party : Cllr E A Firth

Clerk to the Trustee’s Working Party: Ms J Sanders (Tel: [phone]) Financial matters of the Charity are administered by: Mr Graeme Wilde, Senior Finance Officer for Kirklees Directorate of Finance Corporate Accountancy

2. Structure, governance and management. Kirklees Council, as Trustee, has delegated responsibility for advising and making recommendations on the allocation of the Trust fund in line with the objectives of the Trust, to the Working Party whose membership is outlined above.

3. Volunteer help. The value of any volunteer help is not included in the accounts

4. Activities. The Trustee’s Advisory Working Party met on

• Monday 22nd June 2020

• Wednesday 30[th] September 2020

• Wednesday 18[th] November 2020

• Tuesday 16th March 2021

Meeting for the year were undertaken virtually because of the Coronavirus Pandemic. Its recommendations were subsequently approved by the Kirklees Cabinet for the Council as Trustee.

5. Achievement and performance

Dewsbury Endowed Schools Foundation Trust Annual Report - year ending 31.03.2021 page 1

Annual Report 2021 - Dewsbury Endowed Schools Foundation Trust

5.1 Allocation of grants.

Grants – £18,375 of grants were made to groups/organisations (£11,160), individuals (£4,024) and £3,191 to schools for activities within the boundaries of the former County Borough of Dewsbury.

The Trust was able to recoup an overpayment of grant totalling £1,000 that had been made to Shaheen Cricket Club in a previous financial year. Agreement is that this will be repaid by direct debit at £50.00 per month.

The working party members confirm an individual applicant’s eligibility to receive grants before recommending an award. The working party members confirm that there are a significant number of eligible young people benefiting from the organisation/group activity before recommending an award. Several applications have been refused due to a lack of clear involvement of eligible young people.

5.2 Cullingworth Courts

During the year, the Trust accepted an offer, and whilst solicitors were appointed and some progress made, the applicant encountered planning issues, and (subsequent to the year end) the prospective purchaser decided to withdraw his offer. The agent has made further progress in marketing the site, and identified a potential new buyer, although they have yet to formally confirm an offer.

5.3 Investment policy

The current general policy has been to invest Trust monies in safe investments, rather than risk capital losses. The Director of Finance has advised that Trust funds used for day-to-day cash management should be held by Kirklees Council

Investments are held directly in the following:

• UK Bond Fund - the objective of which is income generation

• UK Equity Fund (historic investment) - the objective of which is capital

• growth

The Trust normally earns income on its balances with Kirklees Council, which is effectively the current account. No interest was paid in the year.

5.4 Semerwater campsite

The site was unavailable for bookings during this period.

5.5 Reserves policy

The Unrestricted Funds – General Reserve is effectively the current year’s income less running costs. Grants are paid out of the previous year’s surplus. Expenditure is equalised over the years.

6. Plans for future periods

6.1 Investment policy.

The investment policy will be kept under review by a subgroup of working party members together with Graeme Wilde

6.2 Trust Physical Assets

During the year the Trust undertook to proceed with the sale of the Semerwater asset., and a planning application for the residential conversion of Gillfoot Cottage was made during the year. Subsequent to the year end, a planning approval for residential use was obtained. The site will now be marketed.

7. Funds held on behalf of other trusts.

Dewsbury Endowed Schools Foundation Trust Annual Report - year ending 31.03.2021 page 2

Annual Report 2021 - Dewsbury Endowed Schools Foundation Trust

The Trust is currently holding 171.865 investment units on behalf of the Sadler Memorial Trust. The value at 31 March 2021 (the date of the accounts) was £321.73.

Dewsbury Endowed Schools Foundation Trust Annual Report - year ending 31.03.2021 page 3

DEWSBURY ENDOWED SCHOOLS FOUNDATION TRUST lor the Year Ended 31 March 2021

DEWSBURY ENDOWED SCHOOLS FOUNDATION TRUST Statèment of Flnanclal Actlvltles for the Year Ended 31 March 2021 Unrestrided Endowmènt funds funds Total 2021 Total 2020 Note Income and Endowments from: Investment income Other income 29.146 29.146 33,055 Totsl Income 29.146 29,146 33.055 Expendlture on: Other expendlture 4&S -30,395 -30,395 -19,607 'Total Expendlture -30,395 -30,395 .19.607 Net Income Gross translers between funds -1,249 -1,249 13,448 ILossl/Galn on Revaluatlon ol Investments 110,784 110.784 .82,890 Net movement In funds -1.249 110.784 109.535 .69.443 Reconclllatlon of fund5 Toral funds brought forward 65.858 1.646.644 1.712,502 1,7BI,945 Total funds carried forward 13 64.608 1,757.429 1,822,037 1,712,502

DEWSBURY ENDOWED SCHOOLS FOUNDATION TRUST Balance Sheet as at 31 March 2021 2021 2020 Note Tangible Fixed Assets Investments 835,0(X) 919,467 1,754.467 835,000 808,683 1.643,683 Current assets Debtors Cash and Cash Equivalents io li 6,891 60,856 67,747 8,000 60,983 68,983 Credltors: Amounts falling due wlthln one year 12 178 164 Net Current Assets 67,570 68,819 Net assets 13 1,822,037 1,712,502 Funds of the Charlty: Endowment funds 1,757,429 1,646,644 Unreslrlcted Income funds Unrestiicted in¢ome funds 64,608 65,858 Total funds 13 1,822,037 1,712,502 Signed S.?11111414

DEWS8URY ENDOWED SCHOOLS FOUNDATION TRUST Notes to the Flnanclal Statements for the Year Ended 31 March 2021 Accounting policies Statement of com liance The accounts have been prepared in accordance with the Charities SORP (FRS 1021, "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Basis of re aration These accounts have been prepared on the basis of hlstoric cost and on an accruals basis. Exem tion from re arln a cash flow statement The Charity does not fall under the scope of FRSI and have therefore not included a cash flow statement in these financial statements. Goin concern The trustee considers that there are no material uncertainties about the Charity's abllity to continue as a going concern. Income and endowments All income is recognised once the charity has entitlement to the income, it is virtually certain that the income will be received and the amount of the income receivable can be measured reliably. Investment income Amounts receivable from the reali5ation of endowment assets are retalned wlthln endowment funds. Income derived from endowment assets is treated as unrestricted Income. Ex enditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. Fund structure Unrestricted funds are general funds that are available for use at the trustee's dlscretion in furtherance of the objectives of the charity. The original endowment comprised of land and bulldings. Any subsequent receipts arising from disposal of endowment assets are credited to Endowment Funds, and are to be used only for further expenditure on Endowment Assets.

2 Investment income Unrestrlcted funds 2021 Other Total 2020 Interest receivable and similar income: Interest receivable 29,146 33,055 3 Other Income Unrestrlcted funds 2021 Total 2020 Other income 4 Grants and Donatlons Unrestrlrted funds 2021 Total 2020 Or ani Dewsbury Arts Group Dewsbury Collegia ns Dewsbury Swimmlng Club Chickenley Community Project ' BCM Stars Majorettes ,Saville Town FC Over Payment Shaheen Cri¢ket Club (grant repaid) 1,0 2,000 2,550 2,610 6,000 -1,000 11,160 4,000 Individuals 4,024 2,465 Schools St Joseph's Catholic Primary School 1,691 1,580 Dewsbury Learning Partnership 1,5(X) I,soo 3,191 3,080 18,375 9,545

5 Other expendlture Unrestrlcted funds 2021 Total 2020 Independent Examiner's fee Property costs Semerwater Camp Expenditure Insurance Other expenditure 95 360 8,206 2,003 1,356 12.020 95 5,735 1,142 2,022 1,069 10,062 6 Taxatlon The Charlty Is a re8lStered charity and is therefore exempt from taxation. Unrestrlcted funds 2021 Total 2020 7 Related Partles Kirklees Metropolitan Council Expense5 372 1.636 Income 412 8 Tanilble Flxed Assets Asset cost or valuatlon Freehold land & 8ulldlngs Bala nce brought forward Additions Oi5posals Adjustments Revaluations Balance carrled forward 835,000 835,IXIO The Valuations relate to 11 a valuation of Semerwater Camp Site of £75,000, based on Existing Use Value, by Mouchel Parkman Limited (Support Sevices Companyl in October 2006 21 a valuation of Cullingworth Courts of £2280,000 based on Market Value, by Boultons IEstate Agents) in October 2007, reduced to a revaluation of £760,000 in November 2010.

While it Is appreciated that valuatlons l and 2 above may no longer be realistic, it Is felt that the substantial cost of obtaining independent valuations on a frequent basis is not in the best interests of the Trust. The Trust owns additional land in Dewsbury which is currently used for the purpose of education as follows.. Land at Halifax Road, Dewsbury comprising the site of the former Birkdale High school Land at Halifax Road, Dewsbu ry currently occupied by Kirklees College Investmenls Market value at beginning of year add:.additions to investments at cost less:.carryln8 value of investments redeemed add :.gain on revaluation add.. tra nsfer from Short-term Investments Market value at end of year 808,683 110,784 919,467 Market value at year.end Investments held in investment schemes 919,467 io Debtors 2021 2020 Dividend income 6,891 8,000 2021 2020 11 Cash and Cash Equlvalents Cash at Bank 60,856 60,983 12 Credltors: amounts falllng due w6thln one year 2021 2020 Accruals 178 164

13 Funds Balance at l AprS12020 Incoming resources Resources •Mpended Balance at 31 Marth 2021 Transfers Unrestrlcted funds Unrestricted other funds 65,858 29,146 -30,395 Endowm•nt funds Permanent endowment funds 1,646,644 110.784 1,757,429 Total funds 1,712,502 29,146 80.388 1,822,037 14 Analysls of net assets between funds Unrestrlrted Endowment funds fvnds General Permanent Funds Funds Total Funds Current a55ets Current liabilities 64,786 -178 64,609 2,961 67,747 -178 67,570 2,961

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Indcpendent Examinels Report Report to the trusteesl members of O £Vg Cg(LQ-J Qc £L HCELfj trC(uJ047F O On accounts for the year ended 31 IQI Charity no (rf any) Set out on pages I rep￿ to the tnjstees on my examinalion of the accounts of the above charity Trusn for the year ervjed Responsibilities and basis of report As the chariws trustees, you are resp￿5}ble for the preparation of the accounts in accordance YKth the requiremerrts of the Charities Act 2011 ('the Acr) I rewt in respert of my examination of the Trus¥5 accounts carried out under section 145 of the 2011 Act and in carying out my examination. I have followed all the applicable Directions given by the Charty Commission under section 145(S)(b) of the A Independent tThe charit15 gross income exceeded £250.(Kg0 and l am qualified to examinerfs statement undertake the examination by beir¥J a qualffjed memLEr of linsert name of

plicable listed boJyD. Delete [ } rfnot ap￿Kable. I have completed my examinatlon. I conffm that no material matters have come to my attentÈon in connection %*lth the examination (ethep sdosedw. which give5 me cause to believe that in. any materia respect". the accouniiro record5 were not kept accordance with section 130 of the Charibes Act. or the accounts did not accord vllth the accounting records. or the accounts did not compty wtih the applicable requirements concem1￿ the frKm and content of accounts set out in the Charities (Accounts and Repurts) Regulatrons 21)J8 other than any requirement that the accounts give a 'true and faiv view ￿lch is not a matter considered as part of an independent examination. I have corKems have come auoss no ¢knr matters in connection with the examination to vknich attention should be drawn in this report in order to enable a prcyer understanding accounts to be reached. ' Please dekte the woth in the brackets rfttEy do not apply. Slgned: Date: Name: JV Relevant professional qualification(s) or body cra IER Oct 2018

(rf any): LJ. 10 Section B Disclosure Only complete rf the examiner needs to highlight material matters of concern (see CC32. Independent examinati(￿ of d￿rity accounts: diredjons and gUIda￿e for examiners). Give here brief details of any items that the examlner wishes to disclose. IER Oct 2018