Charity registration number. 529328 Dewsbury Endowed bchools Foundation Trust Annual Report and Financial.Ststements for the Year Ended 31 March 2024 page 1 Dewsbury Endovlea SchoJl8 Fo'undation Trust Trustett,,.￿ b'.eport' Obj&ctives and activities The Charity's objeLtivos )i'¢JTi ¢Oting the education, including social and phy':.,ii;al training, of persons between the ages of .1- seveii and Iwenty-five years who are resident in. (,nè. -.*i-ea of the former County Borough of DeiNsbury. I'he Charity's main activities The Charity has few operational costs (which are amiays significantly below actual income) and its main expense is grants which are funded from anriudl Inveslmenl income and, occasionally, from unrestricted funds built up from previous financial years - where this is required, reference is always made to unrestricted funds available. There is a formal process for inviting, assessing and approving grant applications. This task is undertaken hy the Charity's Working Party which makes recommendations for the Corporate Trustee to approve. Public bonefit statement In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission's general guidance on public benefit and in particular the advancement of educalion. Achievements and performance The provision of grant funding for the purpose of education, including social and physical training, of persons between seven and twenty-five years who are resident in the area of the former County Borough of Dewsbury Grants totalling £22,742 were approved and expended during the year. Financial review The net income for the year was £41,731, incluiling np: income of £17,473 on unrestricted funds and net income of £24,258 on endowment funds. Reserves policy The ch.arity's free reserves. excluding fixed assets, at the year-end were £104,125. The Charity does not have a reserves policy. The Charity's general reserve is effectively the curr¥Jiil year's income less running costs. Grants are paid out of the previous year's surplus. Expendiiur@ is equalised over the years. Approved by the Corp ate Trustee on...2211112024 Signe Name. page 2 Dewsbury Endowed Schools Foundatlon Tiwst Statement of Flnanclal Activitle$ For the year ended 31 March 2024 Unrestricted funds Endowment. funds Total 2024 Total 2023 Nots Income and Endowments from: Investment income Other income 42,988 42,988 35,¢)47 216,250 Total Income 251297 Expenditure on: Other expenditure 4&5 -25,515 -25,515 -34,255 Total Expenditure Net Income Gross transfers bet￿een funds 17,473 17,473 217,042 (Loss}IGain on Revaluation of Investments 24,258 24,259 49,089 Net movement in funds 17.473 24,258 41,731 167.953 Re¢on¢iliation of funds Total funds brou9ht forward 86,652 1,928,992 2,015,644 1,847,691 Total funds c2rried forward 13 104 12J 1953 250 2 057,375 2,015,644 page 3 ..vtsbury E.ndowed Schools Found&tiion Ti,; I ¥4 l•nco 5he.et .or the year ended 31 MarGh 2024 2024 2023 No:e Taygible Fixed Assets Investments 760,000 1,166,054 1,926,054 760,000 891,796 1,651,796 Current assets Debtors Cash at bank and in hand 10 10,155 121,381 131,536 8,436 355,617 364,053 Creditors: Amounts falling due withln one year 12 -215 -205 Net assets 2,057.375 2,015,644 Funds of the Charity: Endovmient funds 1,953.250 1,928,992 Unrestricted income funds Unrestricted income funds 104,125 86,652 Totsl funds 13 2,057,375 2 015,644 tonqture) Cniiffi Inam page 4 Dewsbury Endowed Schools Foundation Trust Nutp.s to the Flnancial Staternents ror the year ended 31 March 2024 1. Accountlng policies Statement of compllance The accounts have been prepared in accordance with the Charities SORP (FRS 102). "Accounting and Reporting by Charilies.. 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 preparatlon These accounts have been prepared on the basis of historic cost, with the exception of tangible fixed assets (below), and on an accruals basis. Exomptlon from preparing a cash flow statement The Charity has applied the exemption under the Charities SORP (FRS102) and has therefore not included a cash flow statement in these financial statements. Golng concern The trustee considers that there are no material uncertainties about the Charity's ability to Continue as a going concern. Tangible Fixed Assets The Gharity owns land assets which are located in a small number of sites and are measured at fair value. Cullin worth Courts Oxford Road Dewsbu This land has a fair value of £760,000. Although previously valued in 2010, the Corporate Trustee still Gonsiders this to be a fair value of the site. Land at Halifax Road Dewsbu ,¢14.. This land was fornierly used as playing fields for Birkdale High School. The school has now closed. The Corporate Trustee is of the opinion that the value of this land is currently uncertain as its use is li closely linked to any future development of the school site. The Corporate Trustee will value the land accordingly as and when Gircumstances cnange. Income and endowments All income is recognised once the charity has entitlement to the income, it is virtually ￿rtain that the income will be re￿iVed and the amount of the income receivable can be measured reliably. Investment income Amounts receivable from the realisation of endowment assets are retained within endowment funds. Income derived from endowment assets is treated as unrestricted income. Expondltur8 All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlem8nt is required and the amount can be measured reliably. page 5 rétry.'b,Jry Endowed Schools Founda¢lon T+ll8t NoLes:.o the Financial Statements i or tlie year endtsd 31 March 2024 Fund structure -JnrestriLted funds are general funds that are a'& ciilaLJli for use at the trustee's discretion in furtherance of the objectives of the charity. The oiigbnal endowment comprised of land and buil(Iliigs. Any subsequent receipts arising from d',sposal of endowment assets are credited to Endnwriient Funds and are to be used only for further expenditure on Endowment Assets. 2. Investment income Unrestricted funds 2024 2023 Interest receivable and similar income.. Interest receivable 42,988 35.047 35,047 3. Other income Unrestricted funds 2024 2023 Gillfool Cottage- profrt on disposal Cullingworth Courts- non-refundable deposit Cullingworth Courts- contribution to professional fees Other income 175,000 25,000 16,000 250 216.250 4. Grants Unrestricted fund5 2023 anisations Dewsbury Arts Group Youth Theatre oaville Town Scouts Saville Town Scou15 Over payment Yorkshire Supremes Majorettes Dewsbury Partnership Shaw Cross Sharks ARLFC Thornhill Trojans ARLFC 1,000 5,000 436 1,440 6,263 6,788 1.525 5.000 Individuals 1.445 86 Schools Ravenshall School 7,984 22,742 13.353 page 6 Dewsbury Endowed Schools Foundatlon Trust Notes to the Financlal Statements For the year ended 31 March 2024 S. Other expenditure Unre8trlcled funds 2024 2023 Propety costs Semerwaler Camp Expenditure Insufanee other expenditure 13,062 3.704 2,341 1.795 20.902 -375 3,148 2.773 6. Taxation The Charty is a registered charity and is the￿fOre exempt from taxation. 7. Related partles Unrestrlcted fund8 2024 2023 Kirklogs Councll Ex Legal fees Room hire 154 110 264 6,177 6.177 Incom• Intere$l payments 6,148 2,8B7 8. Tanglble I1x￿ assots Balance brought forward Addib'ons Disposals Adjustments Revaluations Balance carrled forward 760.000 760 000 9. Investmgnts Market value at beginning of year Additions to investments at cost Carrying value of investments redeemed Gain on revaluation Mark&t value at ond of yoar 891,796 250.000 24,258 1,166,054 10. Debtorn Unrestricted funds 2024 2023 Investment income Grants repayable 10,155 8,000 436 11. Cash and ¢•$h equivalents 2024 2023 Cash al bank and in hand: Cash at bank 121,381 355,617 page 7 Dekiysbury Endowed Schools Foundation i Notes to the Financial Statements Far tfre yeay ended 31 MJunts e8ni8d out under Sedion 145 ofthe 2011 Ad and in e4rryN)g out ffly exarrrination, I uThJ8r Sad￿)n 1451SXb) 91thgAL#. Inde￿dert (r￿ ¢kniWs grDSS •xamln8ts 8tat•m•nt und•rt•ke the gxamina" applicabb listgd aryj l am quaiifi8d to ed momb•r(4 INisert c by bBing & qu r•¥>&¢t orth8 charit￿ Ad". or wu)unts did not aC￿ld the actounting rncords", or th• accounts did noi th8 8pph"cabla r8quir8ments concerNng Ihofcffli and ccrtenl ofa¢o)unts sol out li th• Ch*311es (Atxounts and Reports) ReouL71ions 2Cth i)therlhan ary requirernenl that the a¢￿￿ntS give a Irue and fair vlew¥trhth i¥ nota m lyM￿dered as an Independ￿rt e¥affAnati￿. I have no o)ncems anrj ha¥e come acwss other in vAlh the èxarnwt*)n lo ¥thith attention shoL&d be in thi¥ reF¥xt in . d8Tto enablg a FqOFer understsndv￿ ol the aetswrts to ba reach&l. ' P￿￿$• d•l•t• woftts in th• ￿￿￿8￿mIl￿¢t) nr4&K￿y. Rel•b*nt prof••8loMI quaimcatlorfslw body W W C&&9 KTWA) IER Oct 2018 page 9 Irf any}= Attdress.. SÈttiOn B Disclosure Onw (y)mplete sf Ihe èxaminer needs to hwJhlight malerjai ffiatters o.. conc&m 1s88 CC32. Independefit 0xaminat￿ of tharty accuunis." alre￿10n$ and guhlantr for examnersl Give here brief detsils ot any Items th•t the examinerwis￿S to dlsclose. IER Oct 2018 page 10