BATLEY GRAMMAR SCHOOL FOUNDATION
Annual Report and Financial Statements
Charity Registration Number 529335
Year ended 31 August 2022
Bmwn Butler
Chartered Accountsnts
Leeds

Batley Gramm8r School Foundation
Annual ReF)Ort and Financial Slalemenls 2022
Contents
Page
Reference and adminislralive details
Tfustee's report
Trustee's slalement of responsibilities
Independent auditorfs report
Statement of financial activities
(incorporating an income and expenditure aecounll
10
Balance Sheet
Notes lo the financial statements
12-22

Balley Grarnmar School Foundation
Reference and Adminislralive Details
Registered Office Address
Batley Grammar School
Carlinghow Hill
Balley
WF17 OAD
Charity Registration Number
529335
Trustee
Balley Grammar School Trustee5 Lirniled
Governors
Mr lan Blamires
Prof John Double
Mr Robin Ghosh
Mr Alislair Hartley
Mr Paul Taylor
Mr Oliver Tiplady
Slatulory Auditor
Brown Butler
Leigh House
28-32 St Paul's Street
Leeds
LS1 2JT
Bankers
Lloyds Bank plc
Kirklees Business Centre
1 Weslgale
Huddersfield
HD12DN
Solicitors
Wrigleys Solicitors LLP
19 Cookridge Street
Leeds
LS2 3AG
Investment Managers
Inveslec Wealth & Investment Limited
Quayside House
Canal Wharf
Leeds
LS11 SPU
CCLA Investtnenl Management Limited
Senator House
85 Queen Victoria Street
London
EC4V 4ET

Batley Grammar School Foundation
Trustee's Report
The trustee presents its annual report together with the financial ststements and auditOTS' report of
Balley Grammar School Foundation for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies sel out in the
notes lo the financial statements and comply with the Foundation's governing document, the Charities
Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their financial slalements in accordance with the Financial Reporting
Standard applicabie in the UK and Republic of Ireland l{Charilies SORP FRS 102) Ioclober 201911.
Slruclure, Governance and Management
The Foun6ation is a registered charity and is governed by 8 charity scheme approved by the Charity
Commission on 2 November 2007 and as amended on 21 March 2011. The charity scheme replaced
the former trust deed of Ihe Foundation.
The Foundation is administered and managed by 8 corporate Iruslee, Balley Grammar School
Trustees Limited. It5 directors also make up the board of governors.
The Foundation's activities are controlled by the board of governors who meet once a year.
The current governors and those who served throughout the year are sel out on page 2.
Recruilmenl and Appointment of Governors
The governors, aim is to recruit responsible people with appropriate knowledge, experience and Skills,
who are actively interested in the Foundation and can give the necessary time commitment.
An induction procedure is in place for new governors as and when appointed and all governors are
made aware of the training opportunities available lo them.
Objectives and Activities
The objectives of the Foundation are, for the benefit of the public, to advance education through..
the provision of a sile in Batley for an educational instilulion.. and
the support of the school in such a manner as the Iruslee thinks fit.. and
furthering the education of pupils by the award of prizes,- and
giving grants, bursaries or other payments OT forms of support lo..
{al pupils who need financial assistance lo allend school or lo lake part In extra-curricular
aclivilies., and
Ibl former pupils under the age of 25 who are in need of financial assistance lo assist their entry
into further education, a profession, trade. occupation or services or lo enable them lo travel
abroad to pursue their education.
In order lo further its objectives, the Foundation's main activities during the year were..
The leasing of a large proportion of its land and buildings lo Batley Academy Trust for 125 years
by a lease dated 25 May 2011. The lease is al a peppercorn rer7t.
Supporting Balley Academy Trust by donating assets and cash.

Batley Grammar School Foundation
Trustee's ReF)Ort
Review of the Year
Over the past few years, the govemors focused on consolidating funds after large amounts were
spent upgrading the facilities and equipment of Balley Grammar School prior to its opening as a Free
School In September 2011.
The governors have reviewed and found satisfactory their investment policy and strategies and the
performance of the investment managers.
Financial Review
A summary of the income and expenditure of the Foundation is set out in detail on page 10. The
Foundation's unrestricted funds show a deficit for the year of £4,348 12021 deficit.. £18,110) before
transfers and investment gainslllossesl. There were nel losses on unreslricled investments of £3,663
12021 gains.. £55,973).
The nel increase in total funds for the year was £6,367 {2021 increase.. £140,366). The movements
on the various restricted and unreslricled fund. including the deficit on the pension fund reserve, are
shown in notes 13 and 14. The governors are s8tislied that the funds of the Foundation are available
and are adequate to fulfil ils fLtlure obligations.
Reserves Policy
In line with the Charity Commission's guidelines, the Foundation has formulated a reserves policy lo
ensure that a level of reserves is maintained so that Il can eonlinue lo meet ils day-to-day obligations
and lo continue providing support lo Balley Academy Trust.
The Foundation's unrestricted funds at 31 August 2022 were £665,965 12021- £669.43818nd ils
reslricled funds were £796,05612021'. £786,216). The bulk of these funds can only be realised by the
disposal of tangible fixed assets or fixed asset investments.
The Foundation is taking advice in respect of the reslricled funds being re-classified and made
available for il lo support the work of Batley Academy Trust. a Free School, as there is no longer any
need for bursary support.
Investment Powers and Policy
The governors have the power lo invest any part of the funds of the Foundatlon in such manner as
they consider being most beneficial for the achievement of the objects of the Foundation. The
governors aim lo maximise investment returns while continuing lo preserve the c8pilal value of
inveslmenls.
Risk Management
The governors have examined Ihe major risks that the Foundation faces each financial year when
preparing and updating the strategic plan. The Foundation has developed systems lo monitor and
control these risks lo mitigate any impact that they may have on the Foundation in the future.
Public Benefit
The governors have had regard to the Charity Commission's guidance on public benefit and confirm
that the guidance forms the basis of planning al both strategic and operational level. The principal
public benefit delivered by the Founéation is the support given lo Balley Academy Trust.

Balley Grammar School Foundation
Trustee's Report
Audit Enquiries
So far as the governors are aware there is no infomialion relevant lo the audit of which the
Foundation's auditors are unaware. The governors have taken the necessary steps lo ensure they
themselves are aware of all relevant audit information and made sure that the Foundation's auditors
are also aware of that information.
beh
of the Trustee
Mr R Ghosh
Chair of Go
ernors
024

Batley Grammar School Foundation
Trustee's Slalemenl of Responsibilities
The trustee is responsible for preparing the Trustee's Annual Report and the financial statements in
accordance with applicable law and regulations.
Charity law requires the trustee lo prepare financial slalemenls for each financial year. Under Ihal law
the Iruslee has elected lo prepare the financial slalemenls in accordance with United Kingdom
Generally Accepted Accounting Practice Iuniled Kingdom Accounting Standards and applicable lawl.
Under that law the trustee musl not approve the financial statements unless they are satisfied that
they give a true ané fair view of the stale of affairs of the Foundation and of the income and
expenditure of the Foundation for that period. In preparing these financial statements, the Iruslee is
required lo..
select suitable accounting policies and then apply them consi51enlly',
observe the methods and principles of the Charities SORP.,
make judgements and eslimales that are reasonable and prudent,.
slate whether applicable accounting standards have been followed-. and
prepare Ihe financial statements on the going concern basis unless It is inappropriate lo presume
that the Foundation will continue in operation.
The trustee is responsible for keeping adequate accounting records that are sufficient lo show and
explain the Foundation's transactions and dis¢lose with reasonable accuracy at any lime the financial
position of the Foundation and enable them lo ensure that the financial slalemenls comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the
charity scheme. The trustee is also responsible for safeguarding the assets of the Foundation and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Iruslee is Tesponsible for the maintenance and integrity of the Foundation and financial
information included on the FoLtndalion's website. Legislation in the United Kingdom governing the
preparation and dissemination of fin8nci81 statements may differ from legislation in other jurisdictions.

Bauey Grammar School Foundalitirn.
Annual Report and Flnancial Stataments
Indopendgnl Audltorfs Report to thè Trustees of Balley GraThwnar School Foundation
Oplnlon
We have audited the financial statements of Batloy Grammar Sthwl Foundatson {the'charfVI frjr the
year ended 31 August 2021 ￿lch comprisg the Statem8nl of Flnanclal Activitios, tha Balanco Sheet
and notes to th8 financial statements. induding a summary of signfficanl accounting poliaes. The
nancial roporlng framewotk that has been applied in their preparallon 15 applicable law and United
Klngdom Accounting Standards. including Financlal Reporting Stsndard 102 Thg Flnancial R8portlng
standard applicable in the UK and RepubllG of Ireland" (United lfjngdom Generally Accapted
Accounting Practice).
In our opinlon, Ihg financl81 statsments:
give a true and fair vlew of tho stale of the tharity's affairs as at 31 August 2021 and of its
ncomwig resources and opplicatlon of resources. for the year then endod:
have been prowly prepared in accordance wrfh Unitod lfjngdom Gonerany Accepted A￿oUnt1ng
Practice,. and
have l)een prepared kn accordance with the wuirements of the Charitle5 Act 2011.
Basls of oplnlon
We ¢onducted our audlt In accordance wlth Inlemational Standards cffl Audittng (UK) {ISAs IUKII and
appll¢able law. Our responsibilities under those standards are fijrther described in th8 Audito￿$
responslbllllles for the audit of the finandal statements sectlon of our reporL We are Independent of
the ¢hadty In accordance with the ethlcal requirements that are rolovant to our audlt of the financlal
ststements Sn the UK, Includlng the FRC'S Ethical Standard. and we have ￿5filled our other ethical
sponslbllltles In accorflance wKh these requlrements. We believe that the audlt evlden¢8 we have
obtained is sufficlent and approprlatg to provlde a basls fty uur0pln1￿.
Conclusions relatlng to golng con¢8m
In auditlng the financlal statements, wg have Concluded that Ihg tru$tg8s' use of the golng concem
basls of a￿untIng In the preparation of the financlal statements Is appropriate. Based on the work
we have performed. we havfj not Identtffed any material un¢ertalnlles relaUng to events or &)ndrthJns
that, Indlvldually or collectively. may cast significant doubl on the chadtys ab51ity to continue as a
golng concgm fur a period of at least hyefve months from when the financlal statements org
authorfsed for Issue. Our responsibllltles and the re5ponsibilitie5 of the trustees respect to golng
¢oncem are descrfbed in the relevonl sections of rgtxvL
Other Infonnauon
The trustee is responsible for the other Infomiauon. The other Infomatlon COMP￿seS the Infomlation
Included In the trustee's annual report. other than the flnondal st4tements and our auditorfs report
thereon. Our opinl¢)n on the financlal statements does not cover the other infonnatlon and, except to
the extent olherwts8 &xpllciUy stated In our reporL w8 do not express any forni of assurance
conclusion Ihereon.
In connedon wlth our 8udM of Ihe Ilnand81 ststsin8nts, our re8pon81blllty Is lo read the other
Informallon and. in doing so. consider whether tha oth8r Infomation Is malerfalty Inconsistent wlth tho
nandal statements or our knowledge obtalned In the audit or otherwise appears to be materially
ml$statgd. If we Idenllfy su¢h material inconsistences or apparent Material mis5ts1omonts. we are
required to detgmilne whether there Is a matsrial misstatsment In the financial ststements or
materfal mt35tatemenl of the olher InfoTmaUon. If. bas8d on thg work w$ have perfo￿d, we
ndude that thore Is a malerf81 mlsstatement of th18 Othor Infomiation, we 8r8 requlred to report that
fact.
We have nothlng to report In this regard
Contlnued on next page

Batley Grammar School Foundation
Annual Report and Financial Statements
Independent Auditorfs Rewt to the Tru5tses of Batley Gr8mm8r School Foundation
Con￿nUed from prevlous page
Mattels on which wo are required to rgport by exceptson
In tha light of tho knowtedgg and understanding of the charity and Its en￿ronmen1 obtalnad in the
course of the audiL we have not idanllfied material misstatements in the trustee's roport.
We have nothing to repwt in respect of the folloMng matters kn relauon to whlch the Charities
{A¢counts and Reports) Regulations 2008 requires u3 to report to you If, In our opinion:
the Infomiation glven ￿ the financial statsments18 Inconslslent in any mateiial respect with the
trustg9's rep(rt or
sufflctent accounung records have not been kepL OT
certaln dlsclosures of trustee's rernUnern￿on spedfied by law are not mado: or
the financlal statements are not In agreement wlth the acttjuntlng records,. or
we have not reCe￿d all the tnformatlon and explanallons we requiro for our audit.
Responslbllllies of trustee
As explalned more fulty In Ihe trustee's responslbllltles ststsment Set out on page 6, the Irnslee Is
responslble for Ihe preparalion of the financlal stslements ond for being satisfied Ihat they g￿e a true
and fair view. ond for such Intemal control as the trustee detemiln8s Is necessary to enable thg
preparation of financlal statements that are free from malerial mlsstatement. whether due to fraud or
In preparing the Inanclal statements. the trustee is responslble for as$esslng the charity's abllty to
conllnue a$ a golng concem, dlscloslny. as appll¢able. matters related to golng ¢on¢em and uslng the
going concem basls of account5ng unless the trustee elth8r Intsnds lo Ilquidate the tharlty or cease
operatlons. or have no reali511c allemative but to do 80.
Audltsrfs responslb511Ugs forthe audlt of the financial statements
Our objectives are to obtaln reasonable assurance about ￿ether the finanaal statements a8 a vthole
are free from malorlal mlsstatemenl. ￿ether due to fraud or error. and to Issut an audltorf8 report
tho1 Includes our oplnlon. R08s0nable a$$uronce Is a high level of assurance, but Is not a guarant¢0
that an audit conducted In accordance Yrith ISA5 {UKI wlll a￿ayS doted a material mls5talement
when It exlsts. M1s5talements Can arise from fraud or error and aro consSdered materfal if, IntlMdL¢ally
or In the aggregate, they could reasonably be expected to infiuence the economtc declslons of users
taken on the basls of those Ilnanclal statements.
A further description of our responslbllltles for tho audll of the financlal statements Is located on the
Flnanclal Roportlng Councll's webslte al
.uklaudilorsres
slbillu Thls dg$crfptk*n
forns part of our audllorfs report.
Conllnued on next pagg

Balley Grammar School Foundation
Annual Report and Finan¢io1 Statements
Independent Auditorfs Report to the Trustees of Batley Grammar School Foundation
Contlnued from provtous pagè
Capabillty of the audit in dolecting Irregularitie5. induding fraud
Irfogularilles. Induding fraud, are Inslancos of non-compliance with laws and regulations. We dgslgn
procgduras In line with our responsibilities, outtined above. to detect material misstatements in respect
of iryularftles. Including fraud. The key laws and regulations we have considered in this wnlext
included the Charille$ Act. pension and tax legislation. In addition. we have considered pmmsions of
other laws and rogu18tions that do not have o direct effect on the financi81 statements bLtI cornpliance
th which may be fundamental to the Chority's ablllty to operate or to avokl a material penalty. Thg
extènt to which our procedures are ￿pable of dgtgctlng IrregUla￿ties, Includlng fraud 1$ detailed
below.
Using our general commerdal and sector experience and through discussions with the trustee5 and
other managgmenl, we identified areas of laws and regulations th81 could reasonably be expected lo
have a material effect on the financial statements as well as those 8risirvJ from management's own
a8sessmenl of the rlsks th8t irregularities may occur eilh¢r as a result of fraud or error.
. We examlned the charltys regu18tory ar￿ legal correspondence and dl$cussed wlh the Intslees and
other management any known or suspected Instances of fraud or non-compliance wNh laws and
regulallons.
We communicated identlfied laws and regulations and potential fraud risks to all engagemenl team
members anil remained alert to ony Indkatlons of fraud or non-compllance with laws and regulallon8
throughout the audit.
. In oddros$lng the rLsk of managgmont overfde of o)ntrols. we le8ted the appro￿atene55 oljoumal
entries. We also challenged assumpuons and judgements mad¢ by management In Ihelr signiftcznt
accounllng e5tlmales and judgements.
Thera are Inherent Ilmltatlons in tho audlt procedures descrlbed above and th8 ftrrth9r rem¢)ved non-
compllance wlth laws and ragulati¢)ns Is from th8 events and transactions reflected in the finan¢lal
ststements. the less Ilkely we would becDme awaro of tt. Also, the rfsk of not dete¢tlng a material
rnisstalement due to fraud Is hlgher than the risk of not detedng one from error, as fraud may Involve
dellborate cOn￿alment ty. for example. forgery or inlenuonal misrepTesentatlon. or through cdlLFslon.
U88 of our report
Thls report 1$ made solely lo th¢ charity's tN8te8, as a body, in aC￿rdance wlh Part4 of the ChBdtles
(Ac¢ounts and R8ports} Regulatlons 2008. Our audlt work has been Ur￿ertaken so that we might
stale to the charsty's Iruslee those matters we are required lo slat¢ to thgm In an audltols repKJrt and
for no other purpose. To the fv118St extent permltted by law. we do not accept or assume
responslblllty lo anyone other than the ch8rity and the charft￿8 trustee as a body. for our au￿11 work,
for thls re[￿, or forthe oplnlon5 we ttave formed.
Brown BLrtlor
Chartered A¢￿￿ntants 8nd Statutory Auditor
Lelgh House
28-32 St Paul's Street
Leeds
LS12JT

Balley Grammar S¢hool Foundation
Statement of Finar¢cial Activities
{Incorporaling an income and expenditure account}
Year ended 31 August 2022
Unreslricled
funds
Re51ricle
funds
2022
Total
2021
To181
Note
InGoming resources..
Donations and legacies
Donations receNed
3,145
1,230
4.375
1.455
Investment income
14,080
15,087
29,967
26.027
Total income
17.225
16.317
33.542
27,482
Expenditure on..
Raising funds
Charitable activities
4,395
17,178
4.39S
19.730
4,390
27,230
2.552
Total expenditure
21,573
2,552
24.125
31,620
Other recognised Ilossesl and gain5'.
Net realised Ilossesygains
on investments
Nel unrealised Ilossesygains on
investments
Remeasuremenl gain on defined
benefit pension scheme liability
10
(3,0791
(3,299)
16,3781
5.221
10
1584}
{626}
{1,2101
107.486
16
4.538
4,538
31.797
Net lexpendilurellincome
13,4731
9,840
6,367
140.366
Reconciliation of funLIs'.
Fund balances brought forwar(I
669,438
786,216
1,455.654
1,315.288
Fund balances Carried forward
665,965
796,056
1,462,021
1,455,654
The notes on pages 12 10 22 form part of these financial stalemenls.
10

Balley Grammar School Foundation
Balance Sheet
31 Augijst 2022
2022
2021
Note
Fixed assets
Tangible assets
Heritage assets
Investments
505,228
38,600
905,654
520,677
38,600
904.298
10
1.449,482
1,463.575
Ctjrrenl assets
Debtors
Cash at bank and broker
11
19.921
56.300
49,973
22,353
76,221
72,326
Creditors- amounts falling due within
one year
12
13,602
16,120
Nel current assets
62.619
56,206
Nel assets excluding pension liability
1,512.101
1,519,781
Defined benefit pension scheme liability 16
{50.0801
154,1271
Net assets
1,462,021
1,455.654
Funds of the Foundation
Reslricled funds
Unreslricled funds
Revenue fund
Pension reserve
13
14
796,056
786.216
716,045
{50.080
733,565
164,1271
665,965
669,438
Total charlty funds
1.462,021
1,455,654
These financial statements were approved and aulhorised for issue by the trustee on ?3 2024
and signed on its behalf by..
MrR
Chair
Prof
ohn Double
Governor
overnors
The notes on pages 12 10 22 form parl of the financial statements.

Balley Grammar School Foundation
Notes lo the Financial Slalements
Year ended 31 August 2022
General information
Batley Grammar School Foundation is a registered charity, under number 529335, and is
governed by a charity scheme approved by the Charity Commission on 2 November 2007 and
as amended on 21 March 2011. The charity scheme replaced the former trust deed of the
Foundation.
The Foundglion is registered in England and the address of its registered ofFice and place of
business is..
Balley Grammar School
Carlinghow Hill
Balley
WF17 OAD
The Foundation is a public benefit entity as defined by FRS 102.
Summary of significant accounting policies
Basis of preparation
The financial statemen15 have been prepared in accordance with the charities Statement of
Recommended Practice ISORP IFRS 1021 (October 201911.. Accounting and Reporting by
Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102 1A) and the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland IFRS 102 1A> and the
Charities Act 2011 and UK Generally Accept￿ Practice.
The financial slalements have been prepared lo give a 'true and fair, view and have departed
from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo
provide a 'lrue and fair view,. This departure has involved following Accounting and Reporting
by Charities preparing their financial 51alemenls in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102 1A) issued on 31 January 2022
rather than the Accounting and Reporting by ChaTilies.' Stsiemenl of Recommended Practice
effective from 1 April 2005 which has since been withdrawn.
Going concern
The financial statements have been prepared on a going concern basis under the historic cost
convention, modified lo include certain items al fair valLJe, as the Iruslee believes that no
material uncerlainlies exist. The trustee has considered the level of funds held and the
expected level of income and expenditure for 12 months from aulhorising these financial
stalemenls. The pTesenlalion currency is £ sterling and the financial slalements have been
rounded lo the nearest £1.
The significant accounting policies applied in the preparation of these financial slalemenls are
set out below. These policies have been consislenlly applied to all years presented, unless
otherwise slated.
12

Batley Grammar School Foundation
Notes lo the Financial Slalements
Year ended 31 August 2022
Summary of signifiGanl accounting policies- continued
Income recognition
All incoming resources are included in the Statement of Fin8nci21 Activities ISoFA} when the
Foundation is legally enlilled to the income after any performance conditions have been met. the
amount can be measured reliably and11 is probable that the income will be received.
For donaliorbs to be recognised, the Foundation will have been notrfied of the amounts and the
settlement date in writing. If there are conditions allached lo the donation and these require a
level of performance before enlillemenl can be obtained then income is defe￿ed ￿ntil those
conditions are fully mel or the fulfilment of those conditions is within the control of the
Foundation and il is probable that they will be fulfilled.
For assets donated lo the Foundation, the assets are recognised at their fair value.
For legacies, enlillemenl is the earlier of the Foundation being notrfied of an impending
distribution or the legacy being received. Al this point income is recognised. On occasion
legacies will be notified lo the Foundation however il is not possible lo measure the amount
expected to be distributed. On these occasions, the legacy is Irealed a$ a conlingenl asset and
disclosed.
Investment income
Dividends and interest receivable on listed investments are recognised on an aceruals basis.
Income from short term cash deposits is accounted for on an accruals basls.
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under heading5
that aggregate all costs related lo the category. Expenditure is recognised where there is a
legal or conslrnctive obligation lo make payments lo third parties, il is probable that the
sethemenl will be required and the amount of the obligation can be measured reliably.
Support costs allocation
Support costs are those costs that assist the work of the Foundation bul do not direclty
represent charitable activities and comprise mainly of governance costs.
The analysis of these costs is included in note S.
Taxalion
The FoLtndalion considers that il meets the definition of a charity for UK corporation lax
purposes and is accordingly potentially exempl from lax in respect of its income and gains.
Pensions
sin￿ the closure of Little Balelian's Nursery. the Foundation no longer makes regular
contributions to 8 pension scheme. However, the Foundation has an agreed deficit funding
arrangement in place and has recognised this obligation in the balance sheet. Any changes in
measurement of the obligation and the unwinding of the discounl factor are charged lo the
SOFA.
13

Balley Grammar School Foundation
Notes lo the Financial Statements
Year ended 31 August 2022
Summary of significant accounting policie$- continued
Nel gains and losses on investments
Net realised gainsl{10sses) on investments are calculated as the difference between the net
sales proceeds and their valuation al the last balance sheet date of, where purchased during
the year. the purchase price.
Nel unrealised gainslllossesl on investments represent the difference be￿een the valuation of
fair value assets al the balance sheet dale and their valuation al the previous balance sheet
date or, where purchased during the year, the purchase price.
Fixed assets and depreciation
Expenditure on freehold land and building5, fixtures. fittings and equipment incurred prior to
1975 has been written off and no value is incorporated into the financial statements in respect of
these assets.
Expenditure prior lo 31 August 2001 on subsequent major school exlenslons. including fixtures.
fittings and equipment, has been written off against the appropriate fund when incurred, and
expenditure on minor building alleration5 and fixtures. fiitings and equipment was charged to the
revenue fund when incurred.
Depreciation is provided lo write off the cost of the assets in equal annual Instalmenls over the
estimated useful economic lives of the assets as follows..
Building improvem@nts
Sixth form block
Fixtures. fittings and equipment
50 years slraighl line basls
10- 50 years slraighl line basis
20% and 25¢/0 slraighl line basis
Heritage assets
Heritage assets are brought into account at either cost or fair value, rf donated.
No tleprecialion is charged on heritage assets which have an indefinite useful lrfe.
lTrveslments
Investments are slated al fair value.
Pooled investment vehicles are staled al bid prices for funds with bidloffer spreads, or single
price where no bidloffer spread5 exists as provided by the fund manager.
Impairment of fixed assets
Fixed assets are assessed lo each reporting date to determine whether there is any indication
that the assets are impaired. If there is an indication of possible impairment. the recoverable
amount of any affected asset is eslimaled and cornpared lo ils carrying amount. If the eslimaled
recoverable amount is lower, the carrying amount is reduced lo ils eslimaled recoverable
amount, and an impairment loss is recognised in the SOFA. The reversal of an impairment loss
is recognised immediately in the SOFA.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable
are measured initially at fair value, nel of transaction costs. and are subsequently measured al
amortised cost using the effeGlive interest method. less any imp2irment.
14

Balley Grammar School Foulldalion
Notes lo the Financial Slalements
Year ended 31 August 2022
Summary of significant accounting policies - continued
Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial
liabilities are ffleasured initially al fair value. net of transaction costs and are subsequently
measured al amortised c05t using the effective interest method.
Funds
Unrestricted funds are available for use at the discretion of the trustee in furtherance of the
general objectives of the Foundation and which have not been designated for other purposes.
Restricted funds are funds which are lo be used in accordance with specific reslrictlons imposed
by donors or which have been raised by the Foundation for particular purposes. The cost of
raising arnd administering such funds are charged against the specific fund. The aim and use of
each restrirted fund is sel out in the notes to the financial statements.
Cash flow statement
The Foundation qualifies as a small entity and has taken advantage of the exemption under
FRS 102 not lo prepare a cash flow statement.
Critical accounting estimates and assumptions
The preparation of the financial slalements requires the Iruslee lo make estimates ar7d
assumptions concerning the future. The resulting 8ccounling estimates and assumptions will,
by definition, seléom equal the related actual results. The main area of eslimales and
assumptions that have a significant risk of Causing a material adjustment lo the carrying amount
of assets and liabilities within the next financial year relate lo the estimates used in valuing the
CARE pension scheme deficit funding liability.
The present value of the liability depends on a number of factors that are determined on an
actuarial basis using a variety of assumptions. The assumptions used in determining the liability
include the discount rate. Any change in these assumptions will impact the carrying amount of
the pension liability. The carrying value of the pension liability is £50,08012021.. £64,1271-
Investment income
Unrestricted
funds
Reslricle
funds
2022
2021
Income from UK investments
Bank interest
14.072
15,082
29.155
13
26.026
14,080
15,087
29,167
26,027
Investment income in the year ended 31 August 2021 was £26,027 of which £12,925 was
attributable lo unreslricled funds and £13,102 was attributsble lo reslricled funds.
15

Batley Grammar School Foundation
Notes lo the Financial Statements
Year ended 31 August 2022
Total resources expended
Unreslricled
lunds
Reslricled
funds
2022
2021
Raising funds
Investment management
4.395
4.395
4,390
Charitable activities
Prizes and gifts
Staff costs- pension
Depreciation
Bank charges and interest
Management fees
Finance cost re pension deficit
Support costs
2,552
2,552
1,633
15,449
23
16,0001
530
5,543
335
1.621
15.449
65
1.000
805
7,955
1.633
15,449
23
{6.0001
530
5.543
17,178
2,552
19,730
27.230
21.573
2,552
24,125
31.620
Expenditure for the year ended 31 August 2021 was £31,620, of which £31,285 was allrlbul8ble
lo unreslricled funds and £335 was allributsble lo restricted funds.
Support costs
Support cosis comprise of..
2022
2021
Audit fees
Trustee expenses
Pension scheme expenses
Leg21 and professional fees
MiscellaneoLJS expenses
4,200
275
1.068
3,000
120
1,386
3,277
172
5,543
7,955
Information regarding employees and governors
There were no employees during the year12021'. £nill.
Staff costs during the year..
2022
2021
Wesl Yorkshire pension fund
Remeasuremenl of pension deficit funding
1,633
14,5381
1,621
131,7971
{2,9051
130,1761
No governor or person related or connected by business lo them has received any remuneration
or reimbursement for expenses from the Foundation during the current or prior year.
16

Balley Grammar School Foundation
Notes lo the Financial Sialements
Year ended 31 August 2022
Net income is after charging..
2022
2021
Auditor's remuneration
Depreclation
4.200
15.449
3,000
15,449
Tangible fixed assets
Sixth
form
block
Fixtures.
1975 school fittings and
extensions
equipment
Building
improvements
Total
Cost
At 1 September 2021
Disposals in the year
512,148
437,974
25.000
61,131
11,500)
1.036,253
11.5001
Al 31 August 2022
512.148
437,974
25.000
59,631
1,034.753
Depreciation
Al 1 September 2021
Charge for the year
Disposals in the year
310,594
6,534
118.851
8,915
25,000
61.131
515.576
15,449
11,5001
{1,500)
At 31 August 2022
317,128
127,766
25,000
59,631
529,525
Net book value
Al 31 August 2021
201,554
319,123
520,677
At 31 August 2022
195,020
310,208
505.228
On 1 September 2011, the Foufidalion granted a 125-year lease over 119 freehold properties lo Balley
Academy Trust at a peppercorn rent.
17

Balley Grammar School Foundation
Notes lo the Financial Statements
Year ended 31 August 2022
Heritsge fixed assets
Paintings
collection
Total
Cost
At 1 September 2021 and 31 August 2022
38,600
38,600
The heritage assets ore Shown at deemed Cost being their fair value al donation. The fair value
donation valuation was ascertained from a suitably qualified person. external lo the Foundation.
The fIV￿year financlal summary of heritage fixed asset transactions is..
2022
2021
2020
2019
2018
Additions-.
Donations
38,600
10. Fixed asset investments
2022
2021
Valuation
Al 1 September 2021
Additions al cost
Disposal proceeds
Net realised Ilossesllgains
Net unrealised Ilossesllgains
904,298
83,315
174,3711
16,3781
11.2101
779,104
121,38d
{108,8971
5,221
107,486
At 31 August 2022
905,654
904,298
The portfolio compftses of securities which are listed on a UK recognised stock exchange.
The histori¢al ¢ost of the securities is £806,962 {2021'. £792,086).
Net gains on investments in the year ended 31 August 2021 were £112.707 of which £55,973
was attributable to unrestricted funds and £56,734 was attributable lo restricted funds.
11. Debtors
2022
2021
School fees
Other debtors
Accrued income
9.014
7.024
3,883
9,564
35,975
4,434
19,921
49,973
18

Balley Grammar School Foundation
Notes lo the Financial Slalements
Year ended 31 August 2022
12. Creditors.. amounts falling due within one year
2022
2021
Trade Creditors
Social security and other taxes
Accruals
6.000
2,551
5,051
16,120
13.602
16,120
13. Restricted funds
Reslricled funds comprise unexpended balances of donations, grants and legacies gwen for
specific purposes on the following funds..
Prize and scholarship fund - used for prizes and scholarships
Jean Naylor Gaunt Legacy Fund~ used for the provision of bursary assistance
B2lley Lads Roll of Honour Fund - used for the research of the First World War history of 8alley
Grammar School
Peter Brook Fund- used lo further historic and artistic knowledge and cultural enrichment
Movements on the restricted fLtnds are as follows:
Realised &
unrealised
losses
Al
01.09.21
Incoming Resources
resources expended
Al
31.08.22
Prize and scholarship fund
Jean Naylor Gaunt legacy fund
Balley Lads roll of honour fund
Peter Brook Fund
242.195
503,036
2,385
38.600
6,133
10,184
2.552
11,275}
12,650)
244,501
510,570
2,385
38,600
786.216
16,317
2,552
{3,9251
796.056
Realised &
unrealised
losses
Al
01.09.20
Incoming Resources
resources
expended
At
31.08.21
Prize and scholarship fund
Jean Naylor Gaunt legacy fund
Balley Lads roll of honour fund
Peter Brook Fund
218,683
455,842
2,385
38,600
5,453
8,854
335
18,394
38,340
242,195
503,036
2,385
38,600
715.510
14,307
335
56,734
786,216
19

Batley Grammar School Foundation
Notes lo the Financial Slalemenls
Year ended 31 August 2022
14. Unrestricted funds
Movements on the unreslricled funds are as follows..
Transfer Reallsed & Remeasuremenl
be￿en unrealised
of pension
funds
losses
deficit funding
At
01.09.21
Incoming Resources
resources expended
Al
31.08.22
Revenue
fund
Pension
reserve
733,565
17.225
21,573
{9,5091
{3,663)
716,045
164,127)
9.509
4,538
{50,0801
669,438
17,225
21,573
13.6631
4,538
665,965
Transfer Realised & Remeasurement
be￿een unrealised
of pension
funds
losses
deficit funding
At
01.09.20
Incoming Resources
resources expended
At
31.08.21
Revenue
lund
Pension
reserve
705.898
13.175
31.285
{10,1961
55.973
733.565
(106,1201
10,196
31.797
{64,1271
599.778
13,175
31,285
55.973
31.797
669,438
15. Analysis of nel assets. excluding the pension liability, between funds
Price and
Scholarship
fund
Jean Naylor
Balley Lads
Gaunt legacy roll of honour
fund
fund
Peter
Brook
fund
Revenue
fund
2022
Total
2021
Total
Tangible fixed
8ssets
Heritage
fixed assets
Fixed asset
investment$
440,813
Current assets
42,922
Current liabilities 113,6021
245,912
83.970
175,346
505,228
520,677
38,600
38,600
38.600
150,521
10.010
314,320
20,904
905.654
904,298
76,221
72,326
113,602) 116,1201
2.385
716,045
244,501
510,570
2,385
38,600 1.512,101 1,519.781
20

Batley Grammar School Foundation
Notes lo the Financial Stslemellls
Year ended 31 August 2022
16. Pension costs
The Foundation participates in the Career Average Revalued Earnings {CAREI Pension
Scheme administered by the Pensions Trust for non-leaching staff. Since the closure of the
nursery there have been no regular pension contributions and the eosl lo the Foundation for the
year was £nil12021.' £nill. However, the Foundation has an agreed deficit funding arrangement
in place and has recognised this obligation in the balance sheet. Any changes in measurement
of the obligation and the unwinding of the discount factor. are charged lo the SOFA.
The CARE scheme is a mulliomployer scheme which provides benefits lo some 37 non-
associated employers. The scheme is a defined benefit scheme in the UK.
11 is not possible for the Foundation lo obtain sufficient information to enable il lo account for the
scheme as a defined benefit scheme. Therefore. it accounts for the scheme as a defined
contribution scheme.
The scheme is subject lo the funding legislation outlined in the Pensions Act 2004 which came
into force on 30 December 2005. This, together with documents issued by the Pensions
Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, sel out
the framework for funding defined benefit occupational pension schemes in the UK.
The scheme is classified as a 'last-man standing arrangement,. Therefore, the Foundation is
potentially liable for other participating employers, obligations if those employers are unable lo
meet their share of the scheme deficit following withdrawal from the scheme. Participating
employers are legally required to meet their share of the scheme deficit on an annuity purchase
basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out al 30 September 2019. This valuation
showed assets of £79m, liabilities of £93.9m and a deficit of £14.9m. To eliminate this funding
shortfall, the Trustee asked the participating employers lo pay additional contributions lo the
scheme from 7 April 2022 10 30 September 2027 of £1.53m PA, payable monthly and increasing
by 30A each year on 1 April.
The recovery plan contributions are allocated to each participating employer in line with their
estimated share of the scheme liabilities. During the year the Foundation paid contributions
lotalling £10,19012021.. £12,387) lo the CARE pension scherne.
Where the scheme is in deficit and where the Foundation has agreed to a deficit funding
arrangement the Foundation recognises a liability for this obligation. The amount recognised is
the nel present value of the deficit reduction contributions payable under the agreement that
relates lo the deficit. The present value is calculated using the discount rale detailed in these
disclosures. The unwinding of the discount rale is recognised as a finance cost.
Pension scheme legislation provides that in the event of the employer ceasing lo participale in
the CARE scheme, or the CARE scheme winding up, the scheme's trustees can levy a 'buy-out'
debt on the employer. Vvhilsl there is no current intention lo cease membership of the scheme,
the governors feel Ihal the disclosure sel out below will aid the understanding of the
Foundations affairs.
The12lesl estimate of the buyout debt was calculated lo 30 September 2022 as being £125.526.
21

Balley Grammar School Foundation
Notes lo the Financial Sialements
Year ended 31 August 2022
16. Pension costs - continued
The key assumption used by the actuary in calculaling the defined benefit pension scheme
liability was:
2022
2021
Discount rate
4.45%
The opening and closing balances of the defined benefit pension scheme liability are reconciled
as follows..
2022
2021
At 1 September 2021
Finance cost
Employer deficit contributions
Remeasurement
64,127
530
110.0391
14,5381
106.120
805
{11,0011
131.7971
At 31 August 2022
50,080
64,127
In addition. the Foundation makes payments lo the Wesl Yorkshire Pension Fund, a defined
benefit scheme in respect of non-leaching staff, lo cover unfunded pension costs relating to ex-
staff. The cost to the Foundation for the year Was £1,63312021.' £1,621).
17. Related party transactions
Balley Grammar School Trustees Limited had expenses paid on its behaw by the Foundation
lolalling £12012021.. £1201.
18. Conlingenl asset
As 8131 August 2022 the Foundation had been notifted of a residuary legacy.
The legacy had been subject lo challenge and the value of the legacy is still uncertain. Legal
costs associated with the challenge are subject lo review and as of July 2024, the value of the
legacy and associated costs can not be reasonably eslimaled and therefore not brought into
these financial slalemenls.
22