CHARITY REGISTRATION NUMBER 529351
SHEFFIELD BLUECOAT AND
MouNf PLEASANT EDUCATIONAL FOUNDATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Hackeryoung
Charteied*£¢crt￿tsnts

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
LEGALAND ADMINISTRATIVE INFORMATION
Thistees
ColJCVHuni
S E Hewson
S C Fowler- Chair
J Brown
S Tum¢r
Prof. M Batcman
Ch•rlty Number
529351
Se¢retary and princlpal office
Ms S M Greave5
clo Wrigleys SolicitOTS LLP
Derweni House
150 Anmdel Ga
She(field
South Yorkshire
SI 2FN
Charity adtDini5trdtor
MTS G Mills
Independent examlner
M Mealing Bsc FCCA
UHY Hacker Young
6 Broadfi¢ld Court
Broadfield Way
Sheffield
S8 OXF
Solicitors
Wriglrys Soli¢itor5 LLP
Detweni House
150 Anmdel Gate
Sheffield
South Yorkshire
SI 2FN
Investment xdvi5or5
Inv¢stcc Wcalth and Investment Ltd
Beech House
61 Napier Sireet
She(field
SII 8HA

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
COIYTENTS
Pa2¢
Trnstees, report
Independent examinerf5 fqK)rt
Statement of financial activities
10
Balancc shccl
Staiemenl of e8sh flows
12
Notes to the accounts
13-22

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIOY4AL
FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The tr￿Stee$ preseni their annual r¢porl and financial 5tstements for the year ended 31 March 2024.
The financial statements have been prepared in accordance wilh (he accounting policies set out in nole I to
the finarlcial staton¢nts und ¢omply with thc charily's Trust Dccd, the Chariiies Act 2011 and "Accounting
and Reporting by Charilies.. Statement of R¢comm¢nd¢d Practice applicable io chariiies preparing iheir
accounls in accordance with ihe Financial Rq￿rt1rtg StaThlord applicable in the UK and Republic of Ireland
(FRS 102) (effeciive l January 2019)".
ObJectlve5 and activities
Th¢ objcclives of the Tnbst are as follows:
l. Awarding to Ixneficiaries scholarships, bursarie5 or mainienance allowances by a single paymeni
or a series of payments tenable ai any 5th001. univ¢r5ity or any other educaiional establislimeni
approved by the Tn￿lees.
2. Providing financial 8ssisian¢e. Ou￿11* clothing, ttK)15, instnunents or books to help beneficiaries on
leaving school, universiiy or other educaiional csiablishment to PTepaTe for or to enter a professi￿.
trade or calling.
3. To award scholarships or mainienance allowances 10 enable b¢neficiari¢s to trJvel abroad to pursuc
their education.
4. Providing or assisting in ihe provision of facililies of any kind not nornially provided by the Lsxal
Education Authority {now known as ihe Children. Young People and Familics Poiifoliol for
recreation #nd siKial and physical iraining including Ihe provision of coaching in #thl¢ti¢S, 4)0rts
ond games for benefi¢i4ries who are receiving primary. secondary or further education.
5. Providing financial assistance w enabl¢ iKnefi¢iaries io sknly music or other arts.
6. Od)¢rwise promoting ihe education (including social and physical training} of bencficiaries.
The bustees have paid due regard to guidanc¢ issu¢d by the Charity Commission in deciding whai activities
Ihe ¢harity should und¢rtake.

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Publi¢ Benefii
Tl)e Tnjsiees have considered the guidance issued by the Charity Commi&sion on Ihe appliration of d]e
public bcncfil Icst and thc supplemcniary guidancc applying in particular to educational chaiities.
The Trust¢¢s are Conscious of their Icgal duty to have regard to the public benefit guidance and th¢
obligation sp¢cifically to report on how th¢ Foundation dclivcr5 public benefii. Thc Trustees ar¢ also
conscious of ilie need to bear in mind boih Ihe general and th¢ 5upplcmentary guidance wh¢rever they are
r¢l¢vanr, in the work of thc Foundation.
The objectives set by ihe TrnSt￿ to deliver the airns of the Foundation are represeni¢d by and evidenced in
the grant programmes, refeTred to in detail later in this r¢port.
Applying the principlcs of thc public benefit t&st. the analysis of thc a¢tivity of the Foundation shows (he
following=
l. Prin¢ipl¢- Ih¢r¢ musi be an identifiablc b¢￿rit or benefits.
Th¢ benefits delivcred are num¢rous and widc rdtjging. Th¢y include cnhanccd opportunitics for
stNciured learning. both within ihe scl)ool environmenl and outside it. Young peoplc helped wilh
grant support from th¢ Foundation have learned.. team skills, how to ext¢nd thettlselves
acadcmically, how to valtse themselves and ihosc around ihem in society. how to develop their
pIIy5ical and sporting abilities. liow to refin¢ and extend their inter￿1 in arts and music and tli¢ir
abilit1¢5 In those subjects.
Through grants to organi5ations over the years th¢ Trustee5 have reached an even wider spread of
people and delii'ercd kn¢fits through activilics carri¢d out by those involvcd in work with young
people wilh particular needs and organisations reacliing OUE 10 the educational needs of children not
readily d¢alt with in the classroom.
2. Principle- benefit musi be to ihe public or a section of the publi¢
Tlie Foundation is clearly able io deliver what is r¢quKred. within tlie reslriclcd geograpliical area
defined by its ¢onstLtution. The Trustees ar¢ satlsfied thai Ihe beneficiari¢s, already referred to in
detail in this r¢port, kr¢ appropriatc to its aim5. No addiiional gcogrdphical rcstriciions are applicd
beyond ihat roniained within the Scheme and #s a 8rant maker die Foundation is not involved in
issii¢s in connection wilh paymcnt of fccs as it is noi involvcd in f￿ charging. Whcrcvcr ihi5 is a
rclcvan( consideration, the T￿S[C¢S bear in mind a desirc to bencfit as wide a scciion of th¢ public
as possible acro&s the beneficiary ¢lasse$ 10 which ils grant making tan be directed.

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The fulfilmenr of ihe Foundation's objcCtiv￿ to mak¢ effeciive and creative use of its Op￿rtuni11¢S for
grani•making is evidenced by the cotnmenlary on its gran¢ making actlVITies below. Its main objectivcs for
¢he year were achieved by continuing its long SLanding support io ¢ducational needs and projecis in the City
of Sheffield and such of ihe surrounding area as falls wiihin the Foundaiion's ¥eograpliical remil.
It is the policy of Ihe Foundaiion in its gtant-making to support needy educational causes. iogether with
needy individuals who can benefii from charitable support in a widc vari¢ty of cducational areas. Wherc
ranl LS mad¢ lo an organisation. it is viewed as eirher a pump priming grnnt for a longer term project or
related to activities and projects laking place in the course of ihai year. The Fourhdation doe5 not favour
making long-tenm funding grants. whe￿ rclcvani. thc Foundaiion favours matched funding to ¢ncourag¢
and facilitate the raising of support for a cau5¢ or (wnisalion.
Achlevements and perfoman¢¢
The Foundation measures achievements by ihe breadth and succcss of its grant making.
Its grani making is ¢ffeciive when il meets real needs of individuals atml organisaiiorts making it possible
for them io carry out aciivilies or dclivcr ihcir own charitablc objcciives in ways which would bc
impossible or less extensive than would th¢ cas¢ wiiIK)ui the Foundation's supporL
The indicator US￿ by thc Foundation to measure the success of lis grdnl making is ihe elTeciiveness and
115efulness of the grant ¢X￿ndit￿rc. The evidence is provided by feedback from organisaiions. through
Trustee visiis or, mor¢ ¢omtnonly, wii¢l¢n rcports: and. in relaiion io individuals. by tlie oficn exub¢rdntly
appreciative re￿rtS from those individuals re¢civing gTrnl sutTth, e.g. in relaiion io gap year activilies.
Iravel and educational visits.
The Foundation is dcpcndeni for the achievement of its objectives on a good flow of applications. The
coniacts li maintains thTough the Sccrciary and through the Tn￿lee5 continue to supply a flow of
applications. The namre and variety of applicaiion alter subtly froni year io year, but the qualily and
quantity of applications remains sufficieni and apprnpriate. enabling a good flow of grants to be niade. The
Foiirldation continu¢s to liaisc boih at Trnstee and ai Secr¢lary l¢v¢l wilh ￿her local grani making
educational charities in ord¢r IQ Share experience and insights.
The Foundaiion continued wilh lis existing foci as well 0$ seeking oui new grdni making opportuniiÈcs
thtovgh eonta¢ts by Ihe Trusiees and through ihe seCr￿ary.

SHEFFIELD BLUECOAT AND MOUNT PLEASAIYT EDUCATIONAL
FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Grants were made for a wide variety of PUTN)$￿.
Tlie full range of ihc {￿J¢CliveS of the Tnjst were represented in the rnnge of grants made.
During thc y¢8r a toial of 27 grants were awardcd (2023- 51)-
Amongst ihe grants made in ihe coursc of the year were grants cnabling y¢)ung people io be involved with
various activities including.. musi¢ and drama. medical and science COU￿¢.
Grants were a150 made to organisaiions. for example. GROW, PACES, Weshvood 2015 Ltd. Lindley
Educational Trusi. South Yorkshire County Scouts and ShetTield Wildlif¢ Tn￿L
AppIl￿tIonS are accepted from a wide rdnge of individuals and organisations. most of which applicants
will complete an application forni and financial ¢ligibilily d(Kumentation and will nomially also sutvly
5UPPOrting docuinents. The n¢cc55ary paperwork for applications is available from Ihe Secretary's offic¢,
iK*th in hard copy and by e-mail. or frotn the websiie page.
above variety of grJnts r¢fle¢i the Foundaiion's interc51 in iKTrth new educational opportiinilies.
applicaiions by individuals and organisations respectively and a ￿MMItMent to support youth organisatiotjs
locally wherevcr pos5ibl¢.
Financial revic
It was again a challenging year for the inveslmenl portfolio. having been inevitably damaged by global
evcnts.
The Foundation's property investmenl 15 ￿llY tenanied, with both floor5 of 1-3 Sharrow Lane being rentcd
olli ort a long leasehold ai a InaTket ￿nI. Both ienanis coniinued (o pay th¢ir thll reni during the fiiiaiicial
year.
Net outgoing resources before movements on investm¢nts were £1.671 (2023.. net outgoing resources of
£32,161 l. IncoTtLe for the year was £84.429 (2023.. £82,048) from stock markct and prope11y investinents
fonning ih¢ Foundaiion's pemianent endowmcnt. Thi5 IS the income ihat mak¢s the work of thc FoundatN)n
P055ible. The value of the main investment p)rtfolio increased over the ycar by 2.04tsA, from £1,239.646 to
£1.264,982.
It is the policy of the charity thai unr¢stricied ￿ndS which have been designated for a Spec￿1¢ us¢
should bc maintaincd at a l¢vel not Icss ihan the equivalcni io b¢tween three and six months, cxpendiLure
{around £80.000). The trustccs consider that KscrY¢s at this level will ensure tliat, in the eveni of a
significant drop in funding, Lhey will bc ablc lo continuc the charity's currcnt activitics while consideration
15 gTiv¢n io ways in which addilional funds may bc raised. This levcl of r¢s¢rves has been maintained
Ihroughoui lh¢ year, with the year end position ¢omfortably al)ove the minimum.
Reserves
li is ihc ￿lIcY of the Foundaiion io seek to keep income fund balances ai a level adequatc to suwort the
work of the Foundation but below the average annual incoming resour￿% figure, whenever grant-making
opportunitics pcrmit.

SHEFFIELD BLUECOAT AIYD MOUNT PLEASANT EDUCATIONAL
FOUNDATION
TRUSTEES, REpoirf (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Principal Funding Sources
This is an endowed charity. Its funds are derived from rental and dividend incom¢ arising from the
pem)anenl endowment as5¢ts. It docs not activcly fundraise and seeks io continu¢ its work through tlic
C3refiJl siewardship of its income.
The Trt￿lees hav¢ d¢(idcd nol lo havc a specific social. environmental and ethi¢al investment policy wilh
its discretionary inveslnieni managers. This matter is rec￿￿Idered each year.
Powers of Inveslment and Inve51meni Policy
The Tnjsiees, pow¢rs of inv¢stmeni are subjec( io the Tnjsiee Aci 2(MXI.
The Fowidation's invesunent p)licy covers iwo areas. It holds onc propcity as a diversified investtnent
class froin whi¢h an incorne return is ob￿l￿ed wilh a policy for ihe capital vxl41¢ lo be at least Inaintained,
so far as the Tn￿[eeS a￿ able io achieve thi5. The balance of its endowmeni is invested in stocks and
shares, which are invested pursuant 10 a ￿l1¢Y to maintain capilal valuc, taking account of inflation, at l¢a5t
and to generate an aN)ropriaie leiiel of income coinmensuratc with proieciion of capital. Pursuant to it5
powcrs un(kr the Ttwlee Act the Foundation ha5 discrelionary mandgemeni of its inark
Invest￿ents.
Risks
The TnJsi¢es have asse55ed the major risks to which the charity is exp)sed. and are saiisfied that systems
are in place ro mitigate ¢xwsure to thc Major risks.
As a matter of best practice. the Trnsiees are ¢on5¢iiJus of the need to c¢)nsidcr risk. Thc Trust¢¢s addr¢s5
and seek io miligaic the principal areas of risk by engaging and rclying upon professional investin¢nt
managers {who carry indemnity insurance). by insuring its real prorwty. by seeking advice from a qualifled
sutvcyor and by ins(ructin8 a Secretary who is Icgally q￿lified and who a150 ca￿leS indeinniiy insurance.
Highlights from 2023124 and Plans for thc Future
Adequate numb¢rs of applicalions coniinue io be received from d￿ri￿ble organisaiions seeking help.
Thc number of organisaiions and individuals applying for help gave the Trnstees the opportunity ihrough
the grant making to make a very significant differ¢nc¢ to a large nuinber of young p¢ople in tlie area and
they were, as always, ¢ncouraged by the wide variety of int¢rcsting and useful educational Jctivili¢s which
the applications represented.
The Tt￿st￿S plan io coniinu¢ with th¢ uisling patterns of grdni milking with thc aim of reaching needy
individuals. causes and organisations within th¢ Foundaiion's geographical remiL Experience continues ro
show that grants to rttipients can make all the diff¢r¢nce lo their educational needs.

SHEFFIELD BLUECOAT AIYD MOUNT PLEASANT EDUCATIONAL
FOUIYDATION
TRUSTEES, REPORT (coiYfiNUED)
FOR THE YEAR ENDED 31 MARCH 2024
Strurturetr governgnce and management
Th¢ Sh¢ffi¢ld Bluecoat Educational Foundation was c5tablished by a Decd daicd 25 July 1709 and
r¢gulat¢d by a Scheme of 23 March 1954. The Mount Pleasant School for Girls Foundation was eslablished
in 1781. The two Foundations wcrc amalgamaied in a Schemc of 24 Scpt¢mki 1962. Sheffield Orphan
Homes was founded by Dccds of 22 June 1865 and 27 December 1870. It was regulaied by a Sclieme of 3
August 1926. A5 a resuli of a Scheme of 7 March 1978, ¢h¢ Sheffield Bluecoat and Mount Pleasani
Educational Foundation Trustees also became the Tnjstccs of that C.l)arily. li was incorporatcd into the
Foundation in a Sclieme of 23 January 1995.
The finan¢ial slatements comply with th¢ govuning documents. slalutory requirements and the
requirements of the Chariiies SORP 2019. Th¢y have been prepared in accordance with the accounting
polÉcics set out on pages 13 to 16.
Thc trustecs who scrvcd during th¢ year were..
ColJCVHunt
S E Hcwson
S C Fowl¢r- Chair
J Brown
S Turner
Prof. M Baleman
MANeill MBE
(Rclircd 18 Scptembcr 2023)
Trnstees serve for a p¢ri(Kl of thre¢ y¢aTs and are eligible for rc-appointrnent.
Co-optative Trust¢C5 appoini¢d after enquiries made throu￿7 thc exisiing TnJst¢c trf)dy from whrli the
potential candidat¢ or candidai&s i&are ideniified.
The Trustees meet usually bi-annually lo discu&$ applications and the affaiTs of the Foundation and to
award 812nts. Decisions are impleTncnted thTough its officers and advi50r&
Through its S￿irt￿ry. the Foundation has access to a number of organisations IM)th local and natiim)al that
havc an intcrc5t in best practice and ihc dcvclopmcnt of thc charitable grani making s¢¢tor. The Secretary 15
herself a lawyer sp¢¢ialising in charity work with a l¢ading niche firm of soliciiors wiLh a national
reputation iii th¢ ficld of irnsts. particularly rclaling to Charities.
The day to dlly administrdtion of the Foundaiion. work in connection with it5 income. liaison ivitli outside
bodies, tlic adininislrdtion of its grant programmcs and thc procc￿lng and hlindling of applications prior 10
and after tlieir con.sideTation by Trusic¢s, is all work delegated to ihe Secretary.
From iimc to limc all Trustees consider policy and slrJtcgic mailers. The Trustees also Consider nKJniioring
inforniation obtained concerning the perfornianc¢ of grdllts.
Tlie Trnsi¢es liave noied the Charily Gov¢rnanc¢ Code and ￿ck to apply its guidance io the work of the
Fouiidation so far as ihc key principlcs apply and are relevani io iis work as a graiit makcr. Thc TNstccs air
conscious of ihe nccd to usc and rcvicw good praclicc in govcrnancc and that adopiing practL¢¢ is an
es.%ential part of being a modem gryanl making charity. This arknual r¢port will show that die key prin¢iples
of Good Govcrnancc arc cvidcnced in the work of thc Foundation.

SHEFFIELD BLUECOAT AND MOUNT PLEASAIYT EDUCATIONAL
FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A conflict of inieresvloyalry regisier is k¢w. which is reviewed regularly.
Th¢ legal till¢ io 1-3 Sharrow Lane is registered in the OtTicial Custodian's at the Land Rcgistry.
New TN¥¢¢s ar¢ provided with an induciion pack by the Secrethry which includes noi only copies of
minutes of recent m¢¢iings and copics of Truslecs, Reporrs ALLou￿￿' bui also copies of docunicnts
relating to ihe govemance and operaiion of ihe chartty ineluding grani making policies and details of the
investments. In addition. documentation with regard to Tntsiee dulles and responsibilities are provided.
New Trnsiees are offercd th¢ opportunity, at the expense of the charity. to attend relevant Trust¢¢ Irdining
courses and the Secretary offcrs Buidancc al all Umc& cspccially io new Tn￿[￿s. on legal. gov¢manc¢ and
adniinistraiive matters.

SHEFFIELD BLUECOAT AIYD MOUNT PLEASANT EDUCATIONAL
FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Thc Ink8tc¢s' r¢port approved by the Board of Tn￿t￿.
S C Fowler- Chalr
Ttuslee
Dated: 21 October 2024
Ms S M Gre*ves

Hackeryoung
tharter￿ kncwtants
6 Broadfi¢ld Cowt
Broadficld Way
Sheffield
S8 OXF
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHEFFIELD
BLUECOAT AND MOUNT PLEASANT EDUCATIONAL FOUNDATION
I re￿rt to the tn￿teeS on my examination of ihe financial staiements of Sheffield Bluee(trat ind Mount
Pleasant Educational Foundation {thc charity) for thc year ended 31 March 2024.
Re5ponslbllltle$ and ba515 of repgrt
As ihe irnsiees of rhe charity you are resw)n5ible for the prepardlion of the finarKial Stat￿lent5 in accordance
with the requirements of the Charitie5 Act 2011 (the 2011 Act).
I repm in respect of my examinaiion of the chariiy's financial surements carried out und¢r ￿¢tIOn 145 of th¢
2011 Act. In c￿ryIng out my exaniinaiion I have lollowed all t1￿ applicable Direciions given by the Charity
Cotninisbion und¢r scclion 14515)Ib) of thc 2011 Acl.
Independent ex8mlDer's statement
I have completed my exaniination. l ¢O¥Lfimi that no maitets have come io tny attention in conneclion with
lh¢ ¢x&iiination giving me ¢ause tv klievc that in ¥ny wnat¢rial r￿p¢cl=
ccounting records w¢rc noi kcpt in rcspcct of t]i¢ charity as required by Section 130 of ihe 2011 Act- or
thc financial siatements do noi accord wifh ihose records- or
Ihe financial staienients do not comply with the applicabl¢ requir¢m¢nts ¢on¢erning the fonn and content
of accounts set out in the Charities IAccouAts and Reports) Regulaiions 2008 vLh¢r than any r¢quir¢ment
ththt the accounts give a Irue and fair view which is not a matrer considered as part of an independait
examinaLion.
I have no concerns and have come across no other maiiets in connection with thc examination to which
attcntion should bc drawn in this report in order to enable a proper understanding of ili¢ financial 5tatcm¢nts to
b¢ reaclied.
M Mealing Bsc FC
UHY H*¢k¢r Young
Ch#rlered Accountants
Dated.. 21 Ociober 2024

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
STATEMENT OF FINANc[ALA￿1vITlEs
FOR THE YEAR ENDED 31 MARCH 2024
Total
2024
Totgl
2023
f¥•d¥
Notes
Inc
Investmcnts
84.429
84.429
82.048
82,048
re
Raisin
fund
Costs of g¢ncratirtg
inve5tin¢nl inconie
Investmcnt
management
8.146
8.146
6.672
6.672
12.780
12.780
13.219
13,219
8,146
12.780
20,926
6.672
13.219
19.891
Charitsblc aclivitics
65.174
65,174
94.318
94.318
Total resources
expended
73,320
12.780
86,1
100.990
13,219
114.209
Ncl 8ainsl(losscs) on
invcsttncnls
io
(221)
36,457
36,236
(963) (74,525) (75.488)
Net movement in funds
10,888
23.677
34,565
(19.905) (87,744) (107,649)
Fund balances at I
April 2023
127,728 1.619.160 1.746,888
147.633 1,706.904 1.854.537
Fund balances at 31
March 2024
138.616 1.642.837 1.781,453
127.728 1.619,160 1.746.888
The 5taletnent of financial activities includcs all gains and losses recognis¢d in the year.
All in¢oine and cxpcnditurc dcrivc from ¢ontinuing activilics.
10-

SHEFFIELD BLUECOAT AIYD MOUNT PLEASANT EDUCATIONAL
FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Iyotts
Flxed assets
Invcs¢m¢nt properties
Investmcnts
12
13
375.IX)O
.277,056
375,￿0
1.251,941
,652.056
1.626,941
Current assets
Debiors
Cash at bank and in hand
14
27,800
125,045
23.536
107.423
152.845
130.959
Credlt•rs: amounts falling withi
one year
Is
{23,448)
(11.012)
Nei curreni assets
129.397
119.947
Total assets less ¢urrellt liabilities
1.781,453
1.746.888
Capital funds
Endowm¢ni funds
Income funds
Unrestricted funds
1.642,837
1.619.160
138,616
127.728
.781.453
1.746.888
The financial statements were approved by the trust¢cs and authorised for i&sue on 21 Ociober 2024 and ar¢
5i8ncd on thcir bchaifby=
S C Fowl¢r- Chair
Trustee
Ms S M Greaves
Se¢rrfxry

SHEFFIELD BLUECOAT AND MOUNT PLEASAiwf EDUCATIONAL
FOUINDATIOLY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flow5 from operating activities
Cash absort)cd by operaliong
(77,846)
(138,146)
Investing aetivities
Pur¢hase of investments
Proceeds on disposal of investments
Investmcnt incom¢ r¢¢¢iv¢d
{124.728)
135.767
84.429
(44.455)
57,609
82.048
Net cash generated from Investing
act(vltles
95.468
95.202
Net cash used in financing aetmtles
Net Incre*sel(deerease) in cash and
equlvalents
17.622
(42.944)
Cash and cash cquival¢nts at beginning of ycar
107,423
150,367
Cash and cash e4ulv*lents at end of ytar
125.045
107.423

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Company information
Shcffield Bluecoat and Mount Plcasani Educational FoundaiTon ?s an unincorporatcd Charity. Thc
principal office &ddrc&s is Ms S M Grcavcs. clo Wriglcys Solicirors LLP, DeNeni House, I SO Arundel
Gale. Sheffield. South Yorkshire, Sl 2FN.
1.1 Accounting CODYeDtion
The financial 5ratements have been prepared in accordance with ihe charity's Trnst Deed. th¢ Ch8riti¢s
Aci 2011 and "Accounting and Rcporting by Chariiics.. Statement of Recommended Praclice applicabl¢
io cliarilies preparing their accounts in accordan¢¢ with the Financial Reponing Siandard applicable in
Ihe UK and Republic of Ireland (FRS 1021 l¢ff¢¢iive l J￿￿￿ry 2019)"_ The charity is a Public Benefii
Eniiiy as defined by FRS 102.
The financial ststrmenLS ar¢ prep#T￿ in sierlin& which is the functional currency of the charity.
Moneiary amounts in these financial staiemenis are rounde4J to thc near¢5t £.
The financial ￿￿teMents have Ixen prepared under The hisioTical cost convention, [modified io includc
the revaluarion of freehold properties and 10 include invesrment properties and certain financial
in51rumenis at fair valuel. The principal a¢couniing policies adopl¢d arc sct out bclow.
1.2 Golng eoTheer
Ai ihe time of approving the financial siatements, the intsiees have a re&%onablc expectation that Ilie
chariiy has adequatc r¢sourc¢s to continue in operarional existence for ihe for¢s¢¢able future. TIIus the
trustees coniinue io adopi the going ¢onccrn basis of accounring in preparing Ihe financial stateih¢nts.
IJ Charitsble funds
Unrestricied funds are available for use ai the discretion of lh¢ in furtherancc of Thcir charitable
objectives.
R¢siricied fund5 are subject to spttifK conditiorts by knnor5 a5 to how they may be used. The purposes
and uses of th¢ r¢stricied funds are set oui in the noies io the financial staicmcnls.
Thc Endowment fijnd represents those a55¢ts which musi bc held pemianently by ih¢ Charity. Inroine
arising on ihc endowmeni fund can be used in a¢cordan¢¢ with ihe objecrs of tlie chariry and is included
as unresiti¢i¢d income.
1.4 Ineoming resources
Incoming resources accounted for on an accnmls b￿ls. Provision is made for renis due but nor
received ai the year end.
13 Res0￿re¢S expended
All expenditur¢ is included on an accruals b&sis and 15 r¢cogni5ed where diere is a legal or ¢onstructive
obligation io pay for ¢xp¢ndityre. All Cthlb hiive been direcily altributed io one of the acrivity cutegories
of resources expend¢d in tli¢ SOFA. All costs include I￿eCoVerable VAT.
13

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIALSTATEMEI¥4TS (CONTINUED)
FOR THEYEAR ENDED31 MARCH 2024
Accounting policles
(Contlnued)
Costs of gencrating funds ¢omprise inv&stment brokcr fccs incurred in managing thc charity's investment
portfolio.
Govemance costs include those incuTred in the governance of the charity and its weis and are primarily
a&sociatcd with constitutional and statutory requir¢m¢nts.
Grants payable are accounted foT wh¢n grdnted to the rccipicnt on lrrcV(￿ablc commitment basis.
1.6 I￿VestMent properties
Invcstmcnt proFW, which is property hcld to ¢am r¢ntals andlor for capitsl app￿rIatIOn, is initially
r¢cogni5¢d at cosi, which includcs thc purchase cost and any directly aiiribuiablc expenditure.
Subb'equ¢ntly it is measured ai fair vJlu¢ at the reporting end date. Thc surplus or deficit on revaluation
is ￿(￿gnIsed in profit or lo&s.
1.7 Flxed asset Investments
Fix¢d asset investinents are initially m¢asured at iransaction pricc excluding iransaction costs, and ar¢
SUb￿quentIY measured at fair value at ¢a¢h rewrting date. Chang¢s in laÉr value are recognised In n¢i
inromel(expenditure) for the year. Transaction costs are expenscd as i￿￿Tred.
1.8 C#$h #nd cash equlvalents
Cash and casl) equivalents includ¢ in hand, deposits hcld at call with banks, other sliort_ierni liquid
invebtmenis with original maturiti¢s of thTee monihs or less. and bank overdrafts. Bank ovcrdrafts are
shown within bO￿ow1ngS in curr¢nt liabiliiies.
.9 Fln*n¢ial instruments
Th¢ Chariiy has elected to apply lh¢ provision5 of Section I I 'Basic Financial Instruments, and Section
12 '0ther Financial Instruments Issu¢s' of FRS 102 to all of its financial i￿St￿ments.
Financial inslrument5 are r¢¢ognised when the charity ix¢omes paty io ihe contractual provisions of the
instrnmcnt.
Fiiiaiicial ass¢rs ar¢ offsei, with the net amounts presented in the accounts when there is a legally
cnforc¢able riglit io set off ihe recogni5cd amounts and iherc is an Int￿tion to settle on a net basis or to
realise the as.8et and seiile the liability 5imultan¢ously.
Baslc Ilnan¢l*lass•ts
Basic financial ass¢ts, which iT]clude dcbtors and cash and bank balances, arc initially measured at
transaction price including iransaction costs and arc subsequenily carried al amorfised ciksi using the
effeclive int¢r¢st tnethod unless ihe arrang¢m¢nt conslilutes a financing i￿n￿¢t10n. where the
transaltion is m¢asuied at ihc prcscnt valuc of thc ￿LUTe receipts discountcd at a markei rate of llitCTest.
Financiol &4s¢is ¢lassified as reccivablc within on¢ year are not amortiscd.
14_

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
IYOTES TO THE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Aceounling polifies
{CoMtirtued)
IMpalM￿￿t ofllnanclal assets
Financial assets, other ihkn those held ai fair v4lue ihrough incorne and expenditure. are assessed for
indicators of impairment at each retK)rting dale. Financial ass¢ts are impaircd wh¢r¢ th¢rc 15 objective
evidence that. as a result of one or more events thai occuned after the initial r¢¢ognition of th¢ financial
asset. the esiimated fu(ure cash nows have been affected.
If an asset is impaired. the impaiTment loss is ihe difference between ihe carrying amount and ihe present
value of the estimated cash flows discounted at the a&set's original effec(ive interesi rate. Tl)e
impaiiTnent loss is rccogniscd in net incomeJ(CXFtnditurc) for the ycar.
If there is o decrease in the Ampaim)eni loss arising from an ¢v¢ni ￿¢￿rrIng after the impairnwnt was
recognised. the impaimient is rcyersed. The rcversal is such ihai the current carrying amount do¢$ TKFt
exceed whai lh¢ carrying amount would have been, liad the impaimient not previously been recognised.
The impaimient reversal is recognised in nd incom&lexpenditurel for the year.
08reeognltlon of Ilnanelalass•ts
Financial asseis are derecognised only when the contractual rights io ihe cash flows from th¢ ass¢t ¢xpir¢
or are settled. or wlien the charity transfers the financial a&sei and substaniially all lh¢ risks and r¢wftrds
of own¢Tship to anoiher cntiry. or if some siwiificani risks and rewards of ownership are rethin¢d ixji
onlrol of Ih¢ assci has Iransferred io anoiher party thai is able to sell the assei in lis eniirely io an
unrelaied ihird party.
Bask fin•ncl•l Ilabilil￿5
B41SiC findnoial liabilitiC5, i￿lUding crcdilors and bank loans are initially Tecognised at irdnsaciion price
unless ihe art3ngernent consitiuies a finan¢ing h8nsa¢lion, wheTe ihe debi in.%t￿nient is Ineasured at the
present value of ihe funtre payments discounied at a market rnie of Int¢r￿1. Financial liabilities
classificd as payable within one year are not amortised.
Debi insiwments are subsequently carried at amortised c05L using the effective interest rate m¢ihod.
Trade creditors are obligaiions to pay for or seNices that hove been acquired in tlie ordinary
COUTse of operations from suppliers. Amounts payable are classified as cutreni liabilitics if payment is
due within one year or less_ If not. they arc prcscnied as non•curreni liabililies. Trade creditors arc
recognised initially at transaction pric¢ and subsequenily measured ai amonised cost using the eff¢ctive
interest meihod.
06recognitlon olflnanelal Ilablllll•s
Finan¢ial liabililics ar¢ d¢rttognised when the charity's coniracnwl obligaiiotL% expire or are discharged
or cancelled.

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FIIYANCIAL STATEMENTS (CONTINUED)
FOR THEYEAR ENDED 31 MARCH 2024
CTl¢l¢418eeoiinting estimgtes and judgements
In the application of Ihe charity's accountlng p)lici&s. the trustees are requiied io make judgement&
¢Slimaies aiid assumptions a￿￿)ut the carrying amount of ass¢ts and liabilities thai are iiot readily
apparcni from other soU￿¢s. Th¢ Gstimaies and as50ciatcd &55umpiions arc bascd on histori¢al
experience and other factor5 thai a￿ ¢oNsidered to be relevanL Actual results may differ from these
estiinatcs.
The estin)ate5 and underlying wumpiions are reviewed on an ongoing basis. Revisions to ac¢ouniin8
eslimatcs arc rccogniscd in the period in which the cstimat¢ is r¢viscd where the rcvi5ion affecLS only
that pcriod, or in thc period of the revision and fu￿re periots where the revision affc¢ts boih ¢ll￿ent and
fulure peri￿S.
CrItI￿1 JudgemeDIs
Fair value of inyestmcnt propertl
The estimat¢s and assunipiions wliich have a Significant risk of causing a material adjustment to t
canying amoun( of awts and liabilities ar¢ a5 follows.
Investment properties are required io be SI￿ in the financial statements at fair value. The Irusl¢¢s
ensure that valualions of thc charity's invosimcnt propcrtics will bc made every three years. Th¢ trUSt¢es
will rcview thc values of the inve.%imeni propertics shown in Ihe accounts each y¢ar and make a
judgement as to wh¢ther any evidence exists ihat thc fair values are materially diff¢rent 10 the values in
the financial stat¢m¢nls. Thi5 may take in to account the stsie of the fabric of th¢ building and the
condition5 in the markei for ih¢ lypes of property owncd.
Investments
2024
2023
Renlal income
Incomc from lisknl invcstm¢nlS
Interest receivable
35.913
45,597
2.919
31,868
49,238
942
84,429
82.048
16-

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (COI4TINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
Total
2024
Total
f¥#d5
2023
ost
inv
tm
itl
Other fundraising cosis
8.146
8.146
6.672
6,672
eni mana
12,780
12.780
13.219
13.219
8.146
12.780
20.926
6.672
13.219
19,891
Rental expenses
2024
2023
Repairs. maintenan¢¢ and insuran¢¢
Bank charges
8.061
85
6.575
97
8.146
6.672
Charltable a¢tlvltles
2023
2022
Grant funding of aciivities (see note 6)
Share ofgovemance costs (see notr 7)
38.134
27.040
68.688
25.630
65.174
94,318
17-

SHEFFIELD BLUECOAT AND MOUNT PLEASANf EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
GrAnts payable
2024
2023
Grants to institulions (12 grants)=
DECSY
Ethel Trust
PACES
Grow
Meadowhead Community
Opcra on Locaiion
Lindley Educational Trnsi
Listening Books
Greentop
Whirlow Hall Farni
CRESST
E&sy Sircct
Westwood 2015 Ltd
Music in the Round
Thc Sheiflcld Whcat ExpeTien¢¢
Concerteenies
Shcfficld Wildlife TnLSt
SY County Scout Council
St¢¢] City Choristers
TSD GYMna￿ticS Academy
1.625
2,838
4,000
1,5(K)
1,450
3,046
1,500
750
3,51KJ
I.5￿)
1.311
2,0￿j
2,6
5.(K)O
1,856
1,000
l.O(M)
3,5(K)
1,51XI
1,5(Kl
1.500
2.ly)O
3.31M)
27.263
31,603
Gr#rtts to individuals115 grants)
10,871
37.085
38.134
68.688

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Govern*•ce 2024
costs
Support Governance
costs
costs
2023
Independent
¢xamination fees
Legal and pmfessional
SKretsry's f¢es
3.390
40
22.200
3,390
40
22.200
40
23.400
40
23,41KI
27.040
27.040
25.630
25.630
Analyscd bctwcen
Charitabl¢ activitics
27,040
27.040
25.630
25.630
Gov¢rnanc¢ Costs includcs paynKn¢s ¢0 thc independent examiner of £3,6(M) 12023: £3,390) for
]nd¢￿nd¢n1 cxamination f¢¢5.
Trnstees
None iTrf tTUSt¢¢s (or any [￿on5 connecied with them) received any remuneraiion or any othei.
benefits froin ¢mploym¢ni wilh ihe charity or any other rclatcd CT)tity during the year and no trusiee
expenses have beetl illcutred (2023.. £nil).
Employees
There were no employees during the year.
10 Net g*lnsl(losses) on i1ves￿ents
Total
2024
Uwr¢urkfed End•W￿￿t
Total
2023
Revaluation of
investm¢nts
Gainl(loss) on sale of
investments
(221)
25.685
25.464
(963) (81.269) {82,2321
10,772
10.772
6.744
6,744
(221)
36.457
36236
(963) (74,525) (75,4881
19-

SHEFFIF,LD BLUECOAT AND MOUNT PLEASAiYf EDUCATIONAL
FOUNDATION
NOTES TO THE FINAP4CIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Tax)Ition
Th¢ charity is exempi from lax on income and gains falling wiihin section 505 of the Taxes Act 1988 or
scction 252 of fhe Taxationof Chargcable Gains Act 1992 to ihe cx(ent that thcsc arc applied to its
charitable objects.
12 Investment property
2024
Fair value
At l April 2023 and 31 March 2024
375.(KJO
Invcslment propcrty cornpris¢s retail and ￿Sidential WOFtrtiC5. The fair value of the investment
property has b¢en arriv¢d ai on the basis of a valuation carri¢d out durtng July 2019 by Fowler Sandford
Chartcrcd SurY¢yoTS, who ar¢ m( connected with ihe charity. Th¢ valuation was madc on an open
market value basis by rcfercnce io markei evidetice of transaction prices for similar properties. In th¢
opinion of the trustees. lh¢ value of the properties at 31 March 2024 does not differ significantly fmm
this valuc. Thc investment propertics werc trdnsfrrrcd io th¢ Charity at nil cosL
13 Fixed asset lttve$tmtnts
Listed
Investments
Cost or valuatiDII
Ai l April 2023
Additions
Valuaiion chang
DisrM)sals
1.251.941
124,7211
25,383
{124.996)
At 31 March 2024
1.277.056
Carrylng amount
At 31 March 2024
1.277.056
Ai 31 March 2023
1.251,941
Flxed 4sset Investments revalued
Inycslments listcd or Irad¢d on a rccognised stock cxchangc arc measured initially at cost and
subscqucntly ai fair valuc (Ihcir Tnarkei valuc). The fair valuc is based on valuaiions providcd in
investment rep)rls made by the fihnd ￿anager, Investec Wealth and Investm¢ni Ltd, Ivho is not
connected to the charity.

SHEFFIELD BLUECOAT AND MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Debtors
2(124
2023
Amounfs falllng dtse wlthln oat year:
Trddc dcbtors
Other debiors
Prepayments ond accrued income
10,498
5.099
12.203
8.982
7,704
6,8SO
27.8￿1
23.536
15 Creditors: Imounts filllng dut wlihin one year
2024
2023
Oihcr crcdilor5
A¢uwls and deferred income
500
22.948
11,012
23.448
11.012
16 AnAlysls ocmet 4ss¢ts between futhds
Total
U•r¢51rld
Total
2024
2024
2024
2023
2023
2023
Fund balanccs at 31
Marrh 2024 #r¢
represenied by..
Investment properties
Invesimenis
Currenl asset
(liabilili¢s)
375.CKKI
375.C
12.075 1.264.981 1.277,056
375,(M)O
375,000
12,295 1.239,646 1.251.941
126.541
2.856
129,397
115.433
4,514
119,947
138.616 1.642.837 1.781.453
127.728 1.619.160 1.746.888
17 Related party transattioms
The￿ were no di5closable relaied paTry iransaciions during lh¢ year {2023- none).
21

SHEFFIELD BLUECOAT AiYD MOUNT PLEASANT EDUCATIONAL
FOUNDATION
NOTES TO THE FINANCIAL STATEME]YTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Cash generated from opera¢loDs
2024
2023
Surplusl(d¢fi¢ii) for lh¢ year
34,565
(107.649)
Adjustmcnts for..
Inveslment income recogni5ed in statemeni of financial aclivities
Gain on disposal of inv&stments
Fair value gain5 and10&se5 on inv¢sim¢n
(84,429)
(10.772)
(25,383)
(82,048)
{6,744)
82.520
Movements in working capit81-.
Ilncrease) in debtors
Increasel(dccr¢¥sc) in cr¢diiors
(4.263)
12.436
(12,673)
(11.264)
Cash absorbed by operations
(77.846)
(137,858)
19 Analysls of changes In net funds
Th¢ ¢hariiy had no debt during ihe year.