Charity number.. 529334 MIRFIEiD EDUCATIONAL CHARtrY UNAUDITED TRUSTEES. REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MIRFIELD EOUCATIONALCHARITY CONTENTS Page Reference and adminratIve detslls of the Charity. iisTru#ees•fvd thisers Trustees. report Independent examinerfs report Ststement of finan(ial actNiliE5 Balan¢e sheet P4otes to financwl Statements 8-16
MIRFIELD EDUCATIONAL OIARrrY REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED31 MARCH2025 Trystee5 Mr E A Speght. Trustee and Chairrnan Coullcillor M Bolt. Trustee Mr D G Cr055, Trustee Couniilknrv Lees-Harnilton, Trustee Mr G M Nind, Trustee Mr C Oldfield. Trustee Mrs C Sykes, Trustee Mrs C F Stevens, Trustee frArJ M Hutchinson, Trustee Charity registered number 529334 Prlnclpal office 6 Rectory View. Thornhill. Dewsbury. West Yorkshire. WF12 ONN Accountants BHP LLP. New Chartfocd House. Centurion Way. Cleckheaton, Bradford. West Yorkshire. BD19 3QB Bank Virgin Money, 46 Market Place. Dewsbury. West Yorkshire. W513 IDN Page I
MIRFIELD EDLICATIONAL CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH2025 The Trustees present their annual rept together with the finaftcial statements of the Charity for the year l April 2024 to 31 March 2025. • Poliaes and obprtlves The charity aims to apply its income in advancing either generally or individually the education lincludin8 Social and physical trainin81 of persons under the age of 25 years who are resideni. or who have a parent or parents resident, in the area of the former Ufban District of Mirfield. In setting objectives and planning for acLiWties. the Trustees have 8i¥en due consideration to general guidance published by the Chafity cornm1son relating to publK benefft. includin8 the 8uidante'Public L*nefit.' running a charity IP821'. Achlebrmettts andperfvmwnce Revlew of actlvl As can be seen from the list of grants paid. the charity coniinues to attratt a wide ran8e of applications from individuals and organisaiion5 consistent vrith the object of the Scheme. There has been a significaftt ireaSe rn the number of applications from schools seekin8 funds for substantial capital projects. It is now the ei8hth year of the Dr H. G. Grason Scholarship. The successful candidates were identifietl as hard working students from families of rnode5t means who rnight otherwise not go to highèr education. En8a8ement from local sthoD15 and college5 continue5 to improve as five Candidates were put forward for sdtxtion. Current rectpients. by ènd lar8e. e1Ve very satisfactory reports of pro8$. Where there is concern the Charity aims to be supportive. Page 2
MIRFIELD EDUCATIONAL CfvIARITY TRUSTEES. REPORTICONTINUEDI FOR THE YEAR ENDED31 MARCH 2025 Flnonciolrevm¥ • Goin¥ concern The account5 have been prepared on a going concern basis the assumption that the charity is able to carry on operating as a 8oing concern in the I0Seeable fure. which trv5tees consider appropriate. • Reser¥e$ polky Reserves are needed to bridge the gap between the spending and reWn8 of incorne and to cover unplanned emergency expenditure. The trustees consider that the ideal level of reserves would be of SLKh a level that allows for income from investments to match expenditure in the year. At the year end. the trust had reserves of £1.943.20312024- fl.928.4061. the details of which are given in note 11 to the account5. Goin8 forward the trustees airn to identify worthy individuals[Institution5 within the area of the former Urban District tsf Mirfield in order to apply its income ensure continLd comFAiance with its own erVeS policy. • Financial review and futuredevelopments During the year under rwew the charity dstributed a siKnffjKant proportiim of its income and part of its unrestritted funds by awarding grants. awards and scholarships amongst the l¢xal community. The chafjty aims to rnaintain its reserves at around the current level of approximatety £I.9J.cl) whilst continuing to provide grants for educational purposes by distributin8 income earned durin8 the forthcomin8 year. Stru¢Te. governonct •ndmtsnogenrf Constitutlon Mirfield Educational Charity is a registered charrty. number 529334. and is constituted under a Trust deed. Methods of appointment oreledion olTrustees The Chairman is elected by the trustees. Trustees are apwinted in accordance with the rules of the charity at special trustee meetirTrg5. All decisions are made tr4f the Inlee$ at ordinary meetings held at least twice a year. The maxlmum number of trustees is nine. • Pofiae5 adopted for the indurtion and traini olTru5tee5 New trustees are briefed by rhe chairman on their legal obligatK>nS under charrty law. No specific trainin8 15 given to the tru5tee5 to equip them foi their role, though they are required to be competent persons who. through residence. occupation. employment or othen¥ise have special knowledge of the èreè of the former Urban Distritt of Mirfield. • Fknan¢lal Instruments The tharity's principle financial instruments comprise investment funds. The main purpose of these instruments is to raise funds so that the charity can continue to offer educatJnal 8rant5 to the local comrnunity. The valuation of the inve5trnent is monitored bythe trustee5_ Page 3
MIRFIELD f DUCATIONALCHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2025 5tru<ture, lovernan and rnanagement IcontTrn¥ed) • Finantial risk management The Trustees have assessed the mapr risks to which the Charity is exSed. in partKular those related to the operations and finances of the Charity. and are satisfied that systems and procedures are in place to mitigate exposure to the major Approved by order of the rnernber5 of the board of Trustee5 and 8Tred on their behalf by.. (W Mr E A Spel8ht. Ichair of trustees) Date.. Mrs C 5Yhes (Trusreel Page 4
MIRFIELD EDUCATIONAL CHARrrY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED31 MARCH2025 Independent Examiner's Report to theTrusiees of Mirfld Edurationzl Charity lhe Charlty'l I report io the charity on rny examination of the account5 of the Charity for the year ended 31 March 2025. Respoffisibililies and 8a5is of Repon As the tharity's trustee5 you a responsible for the preparation of the a[Cnts in accordance with the requ4MentS of the Charities Act 20111'the Act'l. I report in respect of my examination of the Charity's accounts carrieLI out under section 145 of the Act and in carrying out my examination I have followed the applicable Direttion$ 8iven tr4f the Charity Commission under settion 14515llbl of the Act. Indtpendent Examiner's Ststement I have completed my examination. I confirm that no matter5 habt come to my attention in connection wf(h the examination 8Mn8 me cause to belIeVeth in any matertal re5peci'. accounting records were not kept in respect oFthe Charity as required by section 130 of the 2011 Act. or the accounts do not accord with those records- or the accounts (Jo not cornp with the applicable reouirements concerning the form and conteni of accounts set out in the Charities (Accounrs and Reportsl Regulations 2(K18 other than any requirement that the account5 give a 'trfft and fair. view which is noi a matter tonsidefed a5 part of an independent examination. I have no concerns and have come across no other rnatters in connection with the examination to whtch attention should be drawn 5Th this report in order to eTrable a proper understanding of the account5 to be reached. This report is made 501ely to the Charity's Trustees. as a body. in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2C*)8. My work has been uTrderraken so that I m¥ht State to the Charity's Trustees those matters I am required to State to them in an Indeperident exarninerfs report and for no other purpose. To the fullest extent permittefl by law, I do not accept or ass4bme responsibility to anyone otherthan the Charity and the Charity's Trustees as a body. for my work or for this report. Signed.. Dated: 2 2S Lesley Kendrew 8Sc FG4 BHP LLP. Chartered Accountants New Chartford House Centurion Way Cleckheaton B019 3QB Pa8e 5
MIRFIELD EDUCATI(X4AL CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 3025 UnrestrKled funds 2025 Tt)tsl funds 2025 Total fund5 2024 Income frorn: Investrnents 66.941 66.941 66,612 Total income 66.941 66.941 66.612 Expendff¢ure on: Charitable attivities 110,087 110,087 65,186 Total e¥pendiiure 110.Q87 110.087 65,186 Net lexpendSturelfin¢ome befofe net plnson investments Ner gains on investrnents 143,1461 57.Y3 143.1461 57.943 1.426 41.340 Net rno¥emeni In funds 14,797 14.797 42,766 Reconcifiation ¢llund5: Total funds brought forward et movement in funds 1.928A( 1.928A06 1,885,640 42,766 14.797 14.797 Total funds carrled fon¥ar 1.943.203 1,943.203 1,928.41 The Statement of Financial Actmties includes all gains and losses 0¥ISed in the year. The notes on pa8es 8 to 16 form part of these financial statemertts. Page 6
MIRFIELD EDUCATIONAL CHAR BALANCE SHEET ASAf31 MARCH2025 2025 2024 Fixed assets Investments 1,926J99 1.869,056 1.926.999 1.869.056 Current assèts Cash at bank and in hand 17559 60.632 17,559 60.632 Currtnt Ilabilitie5 Creditors.. amounts falling due within one Veèr IlJ551 11,2821 Net current asstts 16.204 59.350 Total nèt assèts 1.943203 1,928.406 Charity funds Restri¢tE(I funds li Unrestritted funds li 1.943203 1,928,406 Total fvnds 1,943203 1,928.406 The finoncial Statements were approved and authorised for issue by the TntStees and signed on their behalf by.. Mr E A Spelaht (Chair of Trustees) Date.. Mts C Sykes (Trusteel The notes on pages 8 10 16 forrn part of these h"nancial Statements. Page 7
MIRFIELD EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 fjenerdl lThformatioTr M4rtield Edutational Charity is a charity registered in England antl Wales. The principal ofFice is 6 Rectory View, Thornhill. DeWstrry. West Yorkshire. WF12 ONN. AccountSn8 pomdes 2.1 8osis ofpreporodon offinpn(iulstatements The financial statements have been prepared in accordance wtth the Charities SORP IFRS 1021- Accountin8 aDd ReFOrting by Charities= Ststernent of Recommended Practice applicable to charitie5 preparin8 their accounis in accordance with the Financial RertIng Standard applicatle in the UK and Republic of Ireland IFRS 1021 leffectNe l January 20191. the Finala1 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'irue and fair. view and have departed from the Charities (Account5 and Reports) Regulations 2c8 only to the extent required to provide a 'true and fair, view. This departyre has in¥olved following the Charities SORP IFRS 1021 published in ottober 2019 rather than the Accounting and Rewrtifig by Charities.. Statement of Recommended Practi effettive from l April 2Q)5 which has since been withdrawn. Mirfield Educational Charity rneets the definition of a public benefff( entity under FRS 102. Assets and liabilities a initially recognised at historical cost or transaction value unless oiherwise stated in the relevant accounting policy. 2.2 6oln9 eontern The accounts have been ppar a going concern basis. 2.3 Incorne All income is recognised once the Charity ha5 entitlement to the income. it 15 probable that the incorne will be received and the amount of incorne receivable can be measured reliably. 2.4 £xpendlts Expenijiture is recognised once there is a le8al or constructive obligation to transfer economtc benefit to a third party. it is pyobable that a transfer of e(onom¢c benefits will be reouired in settlement and the arnount of the obliBation can be measured reliably. Expenditure is classified by artNity. The costs of eath activity are made up of the total of direct costs and shared costs. including SUPPOrt costs involved in undertaking each activity. Dirert costs attributable to a single attmty are allocated directly to that activity. Shared costs which contribute to more than one activiry and support costs which are not attributable to a sin8le activity are apportioned between those attwities on a basis consistent wth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation char8es allocated on the porrion of the asset'5 use. Expenditure on charitable activittes is incurred on dirertly undertakin8 the actiwtie5 which funher the Charity's objecti¥es. as wdl as any a55(lated support costs. Poge 8
MIRFIELD EDUCATIONAL CHARtri NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2025 Accountlng pollcles l£omlnuedl 2.4 Expendlture (conllnuedj Grants payable are char8ed in the year when the offer is made except in those cases where the offer is onditional, such graTht5 being reco8nised as expenditure when the cOndr(n5 attaching are fuWille(l. Grants offered subj1 to cOnditTr$ which have not been met at the year end are noted as a commitment. but not accrued as expenijiture. All expenditure is inclusive of irrecoverable VAT. 2.5 InStMents Fixed asset investments are a fomi of financial rnstrurnent and are initially recognised at their transattion cost and subsequently measured at fair value al the Balance sheet date, unless the value cannot be rneasured reliably in which case r( is measured at cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'GainsllLosse51 on investments. in the Statement of financial atti¥ities. 2.6 Cosh ttt bonkandin hoftd Cash at bank and in hand inclutles cash and short-terrn hi&hty liquid inve5trnents with a short maturff(v of three months or less from the dateof acquisition Of openin8 of the deposit or similar ac(ount. 2.7 L*bilitses andwoviswns abilities are retognised when there is an obli8ation at the Balance Sheet date as a result of a past event. it 15 probable that a tran51ef of economK benefr( will be requi in settlement, and the amunt of the settlement can be estimated reliablv. abilities a reco8nised at the arnount that the Charity anticipates it will pay to settle the debt or the arnount it ha5 received as athanced payrnents forthegoods or serVeS it must prowde. Provisions are measured * the be estimate of the am(yJnts required to settle the obligation. Where the effett of the tirne value of rnoney is material. the prOvisrt is based on the present value ol those amounts. discounted at the pre-tax discount rate that refietts the risks specffjic to the liability. The unwinding of the discount is recognised in the Staement of financial activttie5 a5 a finance cost. 2.8 FlftoKlollrtstrnmettts The Charity only has financial asset5 financial liabilitie5 of a kind that qualify as basic financial instruments. 8asic financial instruments are initially ognIsed at transaction value and subsequently rnea5ured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest Method. 2.9 Fund ocrountiry General funds are unrestrKied fvnds whKh a available for use at the llisction of the Trustees in furtherance of the general objectives of the Charity and which have not been desgnated for other purposes. Investment intome. 8aifis and1055e5 are allocated to the appropriate fund. Pa8e 9
MIRFIELD EDUCATIONAL cMpJirrY NOTES TO ThE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 3025 In¥estrnent In¢ome Ufirestricted lund5 20ZS Total fvnds 2025 Total funds 2024 Dividends aftd interest 66.941 66.941 66,612 Total 2024 66.612 66,612 Page 10
MIRFIELD EDUCATIONAL CHARfTY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Llstotlrants paid to institution5 and indi¥ldua15 2025 2024 Plome ofiA5tilrthn[iThllvlduol. Gront**e5£riMi¢n Molly Firth - Grant towards c05t of conditioning Mirfield Agricuttural Show Society b"mited- Creature cOnnK)nS attraction Old Bank Academy- Cost of residential vissts Joshua Beachey- Bury awarded Hopton Primary S(hool- C4)5t of laptops for the use of SEN students Crossley Fields Junior & Infant sCh1- Grant towards restocking the library and ridentIal visits 759 3CX) 8.055 4.000 i.lss 6,131 5,449 333 Battyeford Prirnary School- Grant towards 8arden project Trinity Metho¢Jist Church- Grant towards church hire and cost of folding tables Mirfield Parish Cavaliers Cricket aub- Grant towards coaching sesgons and cricket nets 3.250 2,800 332 rowlees Jullior & Infants School - Grant towards playground works Sophie Edwards- 8ur5ary awarded Battyeford Sporting Cltsb- Grant towards 3G pitch at Mirfield Grammar School Esfand Amir- Bursary awarded Hannah Wilstsn- 8ur5ary awarded Inga Harwood- Sports eouipmÈnt and gym membership Mirfield Beavers 4,500 io.oTh) 3,5CM) 1,500 556 Mirfield Brown4e5 Steph Brown- Bursary awarded Trinity Children's Centre- C05t of canopy works Mirfield In 8loom- Grant rowards the cost of picking equiprnent Friends of Mirfield tibrary- Grant toward5 the cost of art group matÉYals Castle Hall- Grant towards the cost of Chrome Bwks 3.CQO 1,874 176 Trinity Children'5 Centre- Grant toward5 the cost of tables, chairs and resource5 Old Bank- Grant toward5 the cost of rail fares and theatretickets 2.209 3,055 20 Crowlees Junior & Infants Sch(x)l- Grant for sensory room Mirfield Team Parish- Pantomime c(Mnm41tee- Grant towards build of storage 11,273 Mirfield h4ricultural Show 5ociety- Grant towafds the cost of tkery sessions & the cost of a Fetting loo 868 Imirfieldl Squadron- Grant toward5 Cost of laptops Church House Pre-school- Grant to erect 8ate Bank Junior Academy- Grant toward5 rhe cost of h1-S jackets Musica Kirklees- Grant towards travel costs Batlyeford Parent Teacher and Friends Associat - Grant towards the cost of equipment and re50urce5 1.240 3,752 945 1,142 Pa8ell
MIRFIELD EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED31 MARCH2025 Crossley Fields School- Grant towards cost of Ixxjks Battyeford P.T. & F.A.-Grant in respect of books Individual grants. awards and scholarships 1.433 35.949 102.565 57.744 AMs1$ of Expendilure b¥eXndItUre type 2025 2024 Charitable activities- Grants. awards and schdarship5 Expenditureon govemante 102,565 57.744 7,442 110,087 65.186 Iwlependent exarnlnerfs remuneratk> 2025 2024 Fees payable to the Charity's independent examiner for the independent exam*nation of the Charity's annual accounts 1.355 1,284 Staff costs Durin8 the year. no Trustees reteived any mUneratIOn or other benefits12024- £NILI. During the year ended 31 March 2025. noTrustee expenses have been incurred12024- £NILI. Page 12
MIAFIELD ÉDUCATIONALOIARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2025 Fixed asset Imiestments Otherfixtd a55et C05tor voluo At l April 2024 Revaluations IA69.056 57.943 At 31 March 2025 1.926,999 All the fixed asset investments are held in the UK. Material Inve5trnent5 2025 2024 Permanent End¢)wment BLK Charities UK Equity Fund A Inc (fwmeY Charishare Common Investment Fundl- 219.336.13 shares BLX Charitie5 UK Bond Fund A Inc (former Charishare Common Investment Fund) 155,100.62 shares I.66319 1.599.874 220.906 225,951 Incomeaccountr BLK Charitie5 UK Bond Fund A Inc If(*merty Charinco Common Investment Fund Accumulation of Incomel- 29.673.83 sha 42264 43.229 1.926,999 1,869,054 Creditors: Amounts fafinB due within one year 2025 2024 Accruals and deferred incorne 1.355 1.282 Page 13
MIRFIELD EDUCATIONAL CHARrrY NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED31 MARCH2025 Financial in5twuments 2025 2024 Flnanckl ossets Financial assets measured at fair valLe thr(x48h income and expenditure 17,559 60,632 Financial assets measured at fair value throvgh income and expenditure comprise of the charity bank account. Statefflenl of fvnds Ststement of fvnds- Current year grKe •t I Awll 2014 BalafKe •t 31 M•rth 2025 (Losses) Uftrestri£tedfvnds Income account L592 65349 19651 109A31 33.772 Capital account 1*19,602 1110,087) 1.928A 66,941 1110,087) 57.943 1,943,203 statement of fvnds- w10rar Balance at 31 March 2024 Balance èt l April 2023 Gains/ ILos5esl Ineorne Expenditure Unrestrwrtedfvnds Income account 107.680 1.781 16571 41.997 108,804 Capital account 1.777.960 64.831 165,1861 1,819,602 1.885.640 66,612 165,1861 41.340 1,928,406 Pa8e 14
MIRFIELD EDUCATIONAL CHARiri NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2025 5mmary ol fvnds Summary ollunds- furrent year Balanee rt I 2024 Marth 1015 General funds 1.928A06 66.941 1110.0871 57.943 1,943,203 Sumrnary?f fvnds- prior year Balance at 31 March 2024 Balance at l April 2023 Gains/ ILos5esl Incorne Expenditure General fund5 1.885,640 66.612 165,1861 41.340 1,928,406 13. Analysls ol net assets between fvnd5 Anaty5is of net assets between fvnds- currtnt year Unrestrlrted fvnds Total lunds 2025 Fixed a55et tnvestmeThis 1.926.999 1.926.999 Current assets 17,559 11.3551 17.559 113551 Creditor5 due within one year Totol 1.943,203 L943.203 Page 15
MIRFIELD EDVCATiof4AL CHARITY NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH2025 Anatyys of net assets between fvd51(ontinued) Analysis of nÈt assets between fvnds- prior year Unre5trirte(I funds 2024 Total funds 2024 Fxed asset investments 1,869.056 60,632 11.2821 1.869,056 Current assets 60.632 Creditors due within one year 11,2821 Totoi 1.928,406 1,928,4C6 Rekited partytraiisartions During the year the charity rnade the follo& related partytransactions-. Mrs C Sykes (Trusteel During the year Mirfield Educational Chairty 8rafite(l £I.CM)) the grandson of Mr5 C Sykes towards the cost ol an Ipad. Mlrfjeld In Bloom (Related party by virtueof Mr5 C Sykes. tru5tee5hipl During the year Mirfield Educational Chairty granted £176 to Mirfield In Bloom towards the cost of picking equipment. Trinlty Methodlst Churth IRelatÈd party by virtue of Mrs C Sykes. irusteeshipl Durin8 the year Mirfidd Educatiofial Chairty paid £48 to Trinity Merhodi5t Church in respett of room hire. Page 16