Chorily number.. 529334 MIRFIELD EDUCATIONAL CHARITY UNAUDITED TRUSTEES, REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
PARFIELD EDUCATIONAL cHARy CONTENTS Page Reference and admtn15trative delads of the Charrty. itsTrtee$¥ thi5er5 rwustees, rewl Independent examlfier's report Statement of fman¢lal arti¥lt B4lan¢e sheet Notesto the flnanclal staternents 8-15
MIRFfELO EDUCATIOPIAL QIARffY REFERENCEAND ADMINISTRATIVE DEfMLSOFTHECHARITY, ITSTRUSTEESAND ADVISER5 FOR TrIE YEAR END31 MARCPrf2024 Trustees Mr E A Speight, Chairman Councillor M Bolt. Trustee Mr D G Cross. Trustee CoU1110r V Lees-Hamilton. Trustee MrG M Nind. Trustee Mr C Oldfield, Trustee Mrs C Sykes, Trustee Mrs C F Steven5. Trustee Mrj M Hutchins. Trustee Charfty rei15tered Thumbef 529334 Prfntlpal offi¢• 6 Rettoryview. Thornhill, Dewsbury, West Yorkshire. WF12 ONN Attountsms BHP LLP, New ChartFord House. Centurion Way. Ueckheaion. Bradford. West Yorkshire. 8D19 3QB Banke Virgin Money. 46 Market Pl*e, Dbry. Wesiyorkshire. WF13 IDN Page I
MIRFIEU) EDUCATIIXIAL CHIJtITY TRUSTEES, REPORT FOR THE YEAR ENDED31 MARCH2024 The Trustees present their annual reFort t¢J8ethw with the financial sta1ements of the Charity for the year l Awil 2023 to 31 March 2024. OWecth¢s ortdartriities PDficies and obkrtlves The charity aims to apply it5 income in advancing either generally or individually the edLKatlDri lincluding sctial and physKal irainingl of persons underthe age of 25 years who are resident. or who have a parent or parenis resident. in the area of the former Urban District of Mirfield. In setting objeciNes and planning for acINit5. the Tru5tee5 have 8fftn due considerètion io general guidance published by the Charity Commission relatin8 to publK nefIt. includin8 the 8uidance'Public benefit- runnifig a charity IP821'. Revlewof artlvltles As can be Seen frorn the list of 8rants paid. the charity continues to attt a wKle range of applications from individuals and organi5ati0n5 Constent with theobjettof the Scheme. It 15 now the Seventh year of the DT H. G. Grason Sthdarship. The swe5sful canthdates were identified as hard working students fffjm familie5 of rnode5t rneans might othenvtse not go to hi8her edu¢ation. Engagement from kcal schools and college5 continue5 to improve asfivé candidateswere put Forward se1110r1. Current recipien by anEI large. rff•ve ¥wy 5atisfattw rewts of pro8res& Where there is concem the Charity aims to be 5UPPOrtive Page 2
MIRFIELD EDUCATIONAL CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDE031 MARCH2024 fv'n•nC•le¥1eW • Gol1 ¢on¢em The 3ccounts ve beèn wepared on a 8oin8 coeM basis on the 8$5UrnPtion that the tharity is able to carry on operatin8 as a going concem in thefoeeabIe future, which treescrslder aPProate. • R•5•Ms poIKy Reserves are needed to bridge the gap between the 5pendin8 and recwvire of in¢ome art1 to cover unplann•Y emergency expenditure. The irustees consider that rhe ideal re5erve5 wwld be of sh a level that allows for income from inve5trnentsto match expenditure in the year. At the year end. the trust had reserve5 of £1.928.40612023- £1,885.6401, the details of which are gven in note 11 to the accounts. Going fOard the trustees aim to identify worthy Indidual$llnstitU1F1}& wffhin the area of the former Urban District of Mirfield in order to appfy its income and enSU£0ntinUed coMlance with it5 own resttve5 policy. • Financial review and fvturede¥elopments During the year under eeW the d)arity distritrAJted a $4gnfftant proportion of it5 income and part of its unrestricted funds by awardin8 grants, awards and scFKJlarship5 amowt the Iwal community. The charity airns to maintain its rerVeS at around the currènt Iprtl of approximately £1,.() whli sl continuing to provide grants for educatioThal purposes by distributing income earned dufin&the fortlwnthg year. • CDn5titstitin Mirfidd Educational Chorty is a re8Stered charity, 529334, is constituted uThYer a Trust deed. Meihodsol aP0Ment tr elects olTrust• The chairman is elerted by the tTUStee& Trustees are apinted in accordance with the rules of the charity at special trustee meetings. All decisions are made by the tru5tee5 at ordinary meing$ held * least twice a year. The maximum number of truee5 is nine • Poudesadoptsd for the indurtitin and tr•inkng otTrnstees New trustees are briefeé by the chairman on their legal rtAi8atk)ns under charity LAW. No specific trainin8 Is 8i¥ert to the trustees to equip them for their role, though they are required to t competent persws who. throuEh residence, occupation. emploYt orotherwise have special knowlw*e of the areo of the IrKmer Urban Distria of Mirfield. • fmoncial instruments The charity's principle financial instruments comprise inve5trnent funds. The main WrSe of these instrumonts is to raise funds so that the chartty can continue to offer edUCatnal grantsto the local community. The ¥aluatK)n of thè investment is monitored by ihe Lrustee Pase 3
MIRFIELD EDUCATIONALCHARirY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED31 MARC12024 Slru(¢ureTr governance and maymenl {c¢¥ntinued Fknanclal rlsk manaeement The Trumees have asswed tb.e major risks to which the Charity is exwsed. in particular th05e related to the operalion5 and finances of the Charity. and zre satisfied that systerns and procedur are in place to mitigate exposijre to the major Apprtjved by order of the members of the bwd of Trustee5and on thwr behalF : Mr E A Spelght. (Chair of trustees) Date., MrsCSfv*s rtrusteel 2 4 Oc.ta4- )J27 Page 4
MIRFIELD EDUCATIONAL CHARITY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENgID31 MARCH2024 Independent Examlnevs Report to the Trustees of Mirfield Edurational (harity llht Charlty) I report to the chariry on rny examination of the aC(rnts of the Chartty for the year ended 31 Marth 2024. Re5pon5tbiltieswd Basis ol Report As the Charlty's irustees ycwJ are rokv)Mble for the preparatiM of tk a¢¢ouniS in att¢rdan¢e with the requirements of the Charrties Art 20111'thÈAct'l. I report in respect of my examination of the Charity'5 Xcolthltscarried under section 145 of the Aci and in carrySng out my examination I have followed the appricat Dpr&tion5 given ty the Charity Commission under stttitsn 14515llbl of the Independent EMamlnee5 Stttemert I have compleEed my examinatM)n. l confirm thai rK) matters have to my attelon in connection with the exèmination 8Trtg me cause to bdie¥eth3t in any material respect: accounting recmls were not kept in respect of the Charity as required by seaK)n 130 of ihe 2011 Att: or the accrAnts do not accord with those records; or the accoullts th n(rt cornpty wtth the aPae requirements conceming the fortn and content of account5 set ut in the ChatieS (Accounts and RetxJrt51 Re8utstKin5 28 otherthan any requirement that the accounts 8ive a 'trve and f3ir' wew which 15 not a matter considered as part of an independenl exatninatson. I have no coniem5 and have corTE across no other matter5 in connttiwjn th the examination to which attention should be drawn in this report in orderto enable a proper undwstanding of the accounts to be reached. Thbs plt is made solely 10 the Charity's Trusie4 as a lxly. in dance with Part 4 Df the Charitie5 (Actnts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matter5 1 am required to state to them in an Independt examineI5 report and for no other gurposi To the fullest eent perrnitted by law. l (fro not accept or assume resFthg1lity to anyone other than the Charity and thè ChariVsTrustees as a M)dy, lor my work or forthis report. Signed.. Dated. 2 P CiL-kLL- IL- F LeeV Kendr Bsc FfA BHP LLP, Chartered Accountants New ChartFord House enturion Way Cleckheaton BD19 3Q8 Page 5
MIIIFIELD EtXKATiof4AL CHARITY STATEMENT OF FINANCIAL AcrivttlES FOR ThE YEAR ENDED 31 MAROI 2024 Unrertrbcted lunts 1024 Total frjnds 2014 Total funds 2023 Income from: Imiestments 66.612 66.61Z 63,483 Totsl income 66.612 66,612 63,483 Expendlture M: Charitable activities 65.186 65.186 58,097 Total expendlturè 65.186 65,186 58.097 Net income befwe net gain5lllos5e5) 4)n wWestmts Net 8ainslllossesl on investnnts 1.426 1.426 41.340 5,386 162,5171 41. Net n¥ent In funds 41766 42.766 157.1311 Rècontlllatitin of lunds: Total fund5 broL¥ht forwar Net movement in funds 1,942.771 157,1311 42.766 42.766 Totjl fund5 GarriEd fonvard 1.928,406 1.928.416 1.885.640 Tr ststement of Financial AC11t1es incIyeS all gains and losses rLr(¥ntsed in theyear. The nole5 on pa8* 8 to 15 fom part of thesefinancial statwfits. Pa8e 6
MIRFIELD EDiICATIONAL UIARTtY BALAN SHEET ASAT31 MARCH2024 2024 2023 Fixed assets Investments IA69.056 1.827.716 I69156 1,827.716 Current assets Cash at bank and in hand 60,632 59.145 59,145 CditOrS.. amounts falling due within one year 11282) 11,2211 Nèt currentas5ets 59.350 57,924 Total net assèts 1928 1,885,64D Charltyfunds Restricted fund5 li Unrestritted funds li 1,88S.640 Total lunds L92fj406 1,885.640 The financial statements were approveij and autlK>ri5e(I for ue by the Trustees and signed on thsr beha bv,. Mr E A Spe[8 (Chair of Trustees) Date.. C Sykes ITrusteel The notes on pages 8 to 15 form part ol thesefinancial statements. Pa8e 7
MIRFIELO EDUC4TIONAL CHARITY NOTES TO THE FINANCIAL STATEMEK¥S FQR TFIE YEAR ENDE031 MARCH2024 General Infoml10n Mirfield Educational Charity is a charity registered in England and Wales. The registered office is 6 Rettory View. Thurnhill. Dewsbury. West Yorkshire. WF12 ONN. A¢¢wntlng polkles The financial sternents ha¥e been prepared in ac¢ordan¢e wilh the Charities SORP IFRS 1021- A¢Cnting and Reporting by Charities.. Statement of Recornmended Prattice applItab to charitiÈs preparing their accounts in accordance with the Finanoal Reporting Standard applicatrAe in the UK and Republic of Ireland IFRS 1021 leffective l January 20191, the Financial ReFx)rting Standard applicable in the UK and Republi¢ of Ireland IFR5 1021 and the Charities Art 2011. The finanoal statements ha been WEpafEd to give a arue and fair. view and have departed Irom thÈ Charitie5 IA(counts and Report51 RegulatK>n5 21J)8 only to the extent required to provide a 'true ènd fair. ew. This departure has irwdved followng the Charities SORP IFRS 1021 puNished in October 2019 rather than the Accounting and Re)rtIng by Charitie& Statement of R1)mMÈndÈd Pr%tite eflÈttNè from l April 25 which has since been withdrawn. Mirfield Educational Charity rneets the definitK)n of a pubfic benefrt entity under FRS 102. Assets and liabilitie5 are initially recLV8nised at historical c05t or transartion value unless Dthetwise ated in the relevant countin8 wly. The accounts have been prepared on a gc•ng contem basis. ZJ Inwme All income 15 reco8n15ed onceihe Charity has enlttlement to the income, it is probable that the income will be re£eNed and the amount of income re1¥ae can be measured rdiabty. 2.4 Expendfture Expendfture 15 recogni5ed once there is a legd or constructive obluation to transfer onOMIC benefit to a third party4 It is probable that a trafer of econornK benefrts will be required in 5ettl2ment and the atnount of the 0118atIon can be measured reliabw. Expenditu is classified by actiwiy. The costs of each activity are made up of the total of direct Costs and shared costs. IdIng 5UPPOrt C05t5 rnvolved in undertakin8 each actwity. Direct costs atiribJb tts a sin81È attivity are 3llo£ated dire£tly to that attNiry. Shared costs whith contr11le io more ihan one a(tibryty and costs which are not attributable to a single actiwty are appDrtioned between those artivities on a basis cOn51ent with the use of resources. Central staff costs are allocated on the basis of timespent. and depreciatN)n char8es allocate(l on the portion of the asset's use. Expenditure on chartrable acrivfties is incurred on dire¢tty undertaking the acti¥ities which furrher the Charity'5 objECtiNE5. a5 well as any a550c¢ated supFort COSts. Page 8
MIRFEiD EDUCAnoNAL CHARrrY NOTES TO THE FINANaAL STATEMEwrs FOR THE YEAR ENDED 31 MARCH 2024 AccotIng pokies Icorttinuedl Z4 Expenditure l¢ortimiedJ Grant5 payable are charged in the year wthen the offer t5 made except in those cases where the ofler is £¢1tnal, such 8rants bein& rÈco8nised a5 expenditure when the attachin8 are fulfilled. Grants offered subFrt io conditions which have rKJt been met ai the year end are noted as a commirmeni, but crued as expenditu. All pendItUTe 15 iDcIu5rye (rfirwKoverable VAT. Z5 In¥estmÈnts Fixed asset investntS a a fom of financial instrumwt afid are iniDally IgnIsed at their transattion cost and subsequenlty measured * fair value at the Balance 51Leet date, unless the value tannot be measured reliably in which case it is measwed at ttsst kn 1mpalrTht. Investment gains and losses. whether re81ised or uniealised, are comEx"ned and PTe5ented a5 ains/(LO55esI on investments, in the Statefflent of financial activities. 2.6 Cosh atbontund inhond Cash at bank and in hand irtludes tash and thort-terrn high liquid investments with a short maturity of three mwths or less fromthedaeof acqutsiiion or oPenW of the deposit or similar atcount. 2.7 LAiblUtles liabilitie5 are I[15ed there 15 an ob1W at the Balante Sheet thte as a Ult of a past event. it is probable that a transfer of econom benefit ¥MII be requir in settMeNt, and the amount of the settlement be e5tirnoted reliabty. Liabilities are retognised at the amount ihat the tharity artIpate$ rt wll pay to settle the debt Of the amount it has received as advanced paymÈntsfor the goods Dr services it must prowde. Prow5ions are measured at the best estimate of the amntS required to settle the ijbligatiun, Where tlke effect ol the time value ol money is material. the prowsKJn is based on the present value of those amounts, discounted at the pre-tax dtscount rate that refletts the risks specific to the lbility. The unwinding of the discoLbnt is recognised it) the Statement of finantial artNities as a finance cost. 2.8 FIAoKlollnstniineiits The Charity only has financlal assets ar financial liabilities of a kind ihat Iwalify as basic flnancial instruments. Bas financial instruments are initiaNy oRnI$ at transaaion value and subsequently meaSUd at theii settlement value with ihe extsption of bank loans which are subsequently measured at amortised cost using ihe effell interest merh)d. GEneral fund5 are unre5triCLed fund5 whKh are awai13t4e for use at thE di5cretiDll of the TnJ5teE5 In fvrthe(e of the general objertive5 of the Charity and which have not been desi8nated for other purpose5. Inveament incom< gains and bsses are allted to the appropriate fund. Page 9
MIRFIELD EDUCAnoNAL CHAR[ NOTES TO THE FINANCIAL STATEMEMIS F( 7HE YEAR EtVDED 31 MARCH2024 In¥eAment IbKome Unrestrlrted fvnds 2024 TDtal fund5 2023 fvnds 2024 DidendS and intefe 66,612 66 63,483 Total 2023 63,483 63.483 Pa8e 10
MIRFIELD EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR T5 YEAR ENDED 31 IrtARCH 2024 ListolKrants pakl lo htItUtIn$and Indivmluals 2024 2023 9th Mirfield (Trinity) Scout Group- Grant towards tller repair Molly Firth- Grnnt towards cost ol conditioning Mirfidd P4ricultural Show kniety iitniteiJ- Creature COnnt$ attrortion Old BankAcademy- Cost ol residential wsirs Joshua Beachey- Bursary awarded Kirklees Advwture Trust- Granttowards multi purposè8ames area Moorland5 C.C- Grant t¢)wards outdoorenclosed facdtties Dewstxjry DistrKt Goifciub- Grant toward5 iuntor golf equipment Hopton Primary 5chod- Cost of ptOp$ for the use of SEN s1udents Crossley Fields Junior & Infant SCh&- Granr towards restocking the library and residential wsits 1.500 759 615 41K) 8J)55 1.773 4WOO 2,500 8,000 2,0(X) 2,160 3,229 1.155 6.131 3,483 I,c¥Jo i.rN]o 2.715 Olwer Rushforth- Bursary award Emilia Daly- Bursary awarded Battyeford Primary SchLyJI- Grant towards gard 0ject Imprint Lr(ho tirnted-Grant towards banner Reece Seb35tiao Porkin - Grant towards cost of parkinK and gym membership Trinity MetlKJdist Church- Grant trMtard5 church hire aml cost of folding tables Niamh Gtaie Townend- ACcOmnK)datn and iuitityl Hopton fvimary SCI01- Grant towards cost ofa repla¢w*nt swnd system Mirfield Parish Cavaliers Cricket aub-Grant towards coaching $wLs a1 ricket nets SA49 96 550 333 li 3,5(7 5,6Ql 3.940 566 Hopton Mills Cricket Club- Grdnt towarrjs praCte equiprnerrt CrowlÈes Junior & Infants SCh1- Grant towards playground ¥Mrks Hopton Mills Qi¢ket Club- Grwt towatds costof shirts and taps Sophie Edwards- Bursary awarded Battyeford Sportin8 aub- Grant towards 3G pitch at MirfdGraMMarsChool Esfand Amir- Bursary awarded Hannah Wilson- Bursary aw8rded Iwa Harwod- SpK)rts equipm1 and gyrn membership Mirfield 8È2vers 332 1,540 2,051 2.500 4SOO io.oTr) 5LKI L5 Mirfbeld Brownie5 556 Steph Brown- Bursary awarded Trinity Children's Centre- Cost OfcarpY work5 1,874 57,744 50,730 Page 11
MIRHELD EDUCATIONAL CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR TrIE YEAR ENDED31 MARCH 20Z4 Analysls ol Empendltste by expefidknrete 2024 2023 Charttable aLtivttie5- Grants, aw3rd5 and ScholahIP5 Expendtiure on governance 57.744 7A41 50,730 7,367 65.186 58,097 Independent exam1$ reMtr101) 2024 2023 Fee5 poyatde tothe Charity'5 independent examinw forihe independent examination of the Charity'5 annLFal accounts 1,221 Stsff costs Duftn8 theyesr. Tru5tee5 receryed any rernuneraiion or other benefrts12023. £NILI. During the year erKled 31 •Aarch 2024. no Trustee expense5 been incurred12023- £NILI. Fixed asset investmeN5 Other fixed At l April 2023 Revaluati($ IA27.716 41340 At 31 March 2024 1/69A156 All the fixed asset investrnents are held in the UL P8Ke 12
MIRAELD EDUCATI(Y4AL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Materol Investments 2024 2023 CacoltxcounL" Permanent Endovlment 8LK Charities UK Ewity F A Inc Iformerly Charishare C¢ynmon Investrnent Fundl- 219.336.13 shères BLK Charities UK 8ond Fund A Inc Ifomierly chariSha Qy)non Irrye5tment Fund) - l55.lc.62 shares Inrome accountr 1.599A74 1554.445 225.951 229.385 BLK Charits UK Bcx)d Fund A Ifornierty Charinco Common In¥trnent Fund Accumulation of Incornel- 29.673.83 shares 43.229 43,886 9PS4 1.827.716 Creditor5: AmouNts falhdue withkn one 2023 Acuuals and deferved income 4282 1,221 io. Flnandal IrtstNmènts 2024 2023 FIMnck71ossets Financial assets measured at fair value throu8h income and eXpditle GO3? 59.145 Financial assets mea5ur&l atfair value throu8h incomeand expenditurecompriseof the charty bank accDunt. Page 13
MIRFIELD EDUCAnof4AL OIARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAROI 2024 ii. Slatemebrt olfund5 Staternent of lunds- currert 6aln51 B•kn¢e 4t31 IL05sesl March 2024 4ri12Q3 Unre5trirtfvrf5 Income account 16571 41.997 108,804 L819,602 Capital account 1.777J60 64Wi {6S1861 I850 66.612 165.186) 41J40 L928A06 Statemefitof funds- wioryear Balance at 31 March 2023 Baavce at l April 2022 Gainsl (Lossesl Ire Expenditure Ufftstrictedfvnds Income account 113252 1.829319 L781J 61.703 17.3521 155.1651 107,680 1.777.960 Captsl account 158.0971 1.942,771 63.483 158,(P371 162.5171 1,885.640 Summary of lunds 5MOffd$. current eati 12023 Galnsl 0•1e8131 Mah 2014 Expendthre General funds 66,612 1653861 41.540 L928,406 Page 14
MIRFIELD EDUUJTIONAL Cfrl*JtITY NOTES TO THE FINANCIAL STATEMEWJ FQR THE YEAR ENDE931 MARCH2024 summary of lunds Icont•iuedl summary of funds- prior ar Balance at 31 Marih 2023 BalarKe at l April 2022 Gain51 ILossesl Income Expendtture General funds 1.942.771 63.483 {58.IYJ71 162,5171 1.885.640 13. Analysis of net a$5ets betweenfunds alws of net auets b•t¥Menfvnds. turrèrt perlod UnrÈstrktèd funds 2024 Total fvnds 20 Fixed asset investments 1,869.056 60.632 9A156 60.632 112821 Current assets credIt(S due within one year 11,2821 Total 1,928.4L 1.928A06 Anatysis of net a55ets between fvnd5. prior perbDd Unrestricted funds 2023 Total Itjnds 2023 Fixed asset investments 1.827,716 59.145 11,2211 1.827,716 CuFrent assets 59,145 11.2211 Creditors due within ¢)ne year Totol 1,885,640 1.885.640 Relaied partyfftkmctions The Charity has not Èntered into any related party tran5attion durin8 the year. nor are there any outstandlng balarKe5 owing between rdated parties and the tharttyai 31 Mard) 2024. Page 15