Charity number.. 529357 THE CHURCH BURGESSES EDUCATIONAL FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CHURCH BURGESSES EDUCATIONAi FOUNDATIOM CONTENTS Page Aefer•nce and adrn5nlstrat1 d•talls of the Charlty. Its Trurtees and ¥dvlsers Trusieès. report Independent •Jtamlnèrfs report Statement of flnanclal qctlvltles io B•l•nce shÈt li Notrs to the finan¢S•l %tatmw 12-16
THE CHURCH BURGESSES EDUCATIONAL FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr D Stanley, Chaiman The Revd S A P Hunter JP The Revd H Thoma5 Prof R R Coleman lappolnted 11 February 20251 Mr D F Booker Mr D H Qulnney (resigned 22 October 20241 DrLMKirk Mr S EcEleston Charlty rÈ8lst•r•d number 529357 Prln¢lpal offl Derwent Plouse 150 Arundel Gate Sheffield 512FN Bank•rs Charlties Ald Foundatlon West Malling Kent ME194TA Sollcltors Wrigleys Sollcltors LLP Derwent House ISO Arundel Gate Sheffield SI 2FN oincefs to the Foundatlon The Law Clerk, Mr I Potter A5s1siant to the Law Clerk (Charlty Adrninistratorl. Mrs G Mllls Independent Examlner Rachel Heath FCCA DChA 8HP LLP Albert Works Sldney Street Sheffield SI 4RG Page I
THE CHURCH 8URGE55ES Eouc4nor4AL FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 The Trustee5 present their annual report together with the financial statements of the The Church Burge55es Educatlonal Foundation for the yèar to 31 December 2024. The financial Statements have been prepared In accordance with the accountln8 policies set out In notes to the accounts and cornply with the tharity's governin8 docurnent, the Charitie5 Act 2011 and AccountSn8 and Reporting by Charitie5: Statement of Recommended Practice applicable to eharities preparin8 thelr accounts in accordance wlth the Flnancial Reporting standard appllcable the UK and Republic of Ireland publlshed Sn October 2019. structure. qovemonce undrnonogement . Constltutlon The Church Bur8e55e5 Educatlonal Foundatlon was established by an Order of the Charity Cornmission sealed on 16 February 1904 under Sectlon 2 121 of the Board ol Education Act 1899 and comprised in a Scheme of the Minister of Educatlon dated 10 December 1953, a5 varled by Resolution of the Trustee5 dated 5 Au8USt 1992, un(Jer Section 2 01 the Charltles Act 1985 and as varled by a Scheme of the Charlty Cornmlsslon sealed 23 Au8USt 1999. The 10 December 1953 Scheme provldes that, when complete, the body of Trustèes of the Foundatlon shall conslst of el6ht pErsons, to be appolnted eath for a term of three years. as follows,. flve by the body corporate called The Twelve Capital 8urge55es and Commonalty of the Town and Parlsh of Sheffleld In the County of York I the Trust. I., one by the Sheffleld Educatlon Cornrnittee (now the Chlldren, Young People and Fam51ies department of Shéffleld Clty Counclll., one by the Council of the Unlverslty of SheffSeld, and one by the Sheffleld Diocesan Councll of Reli8lou5 Educatlon (now the Board of Educatlon of the DSocese of Sheffield), A Trustee need ng1 be a member of the appolnt5ng body. In each case when a vacancy arlses the appolnting body appoints a replacement to seNè in the stead of the retiring Trustee. b. Income and Management Vlrtually the whole of the income of the Foundation comes frorn it5 share of the allocation of the Income of the Trust, as provlded by the 23 August 1999 Charity Comm155ion Scheme of that charlty117.8% of Income). The Foundation doe5 not actively fundr8i5e and seeks to contSnue it5 work through the eareful 5tewardshSp of Its income. Each year the Foundation fflake5 a report on Its work to the Trust. c. The GIrnale Structure of the Foundation The Foundaty'on Trustees meet at least four times each year. when, deci5ion5 are made about the lrfe and work of the Foundation. which are then implernented through its officer5 and adviser5. The day to day administratlon of the Foundation. work in connection with it5 income. liaison with outside bodies (such as the Diocese of Sheffield arbd the local Council). the administration of it5 grant programme5 and the processing and handling of appllcations prior to and after their consideration byTru5tees. is all work delegated to the Law Clerk. Page 2
THE CHURCH BURGE55E5 EDUCATIONAL FOUNDATION TRUSTEES, REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 Structure. iovernance and management l¢ontlnu•dl From tirne to tlme ihe Tru5tEe5 conslder policy and strategic matters. The Tru51ee5 also consider the monltoring informatlon obtained concernin8 the performance of grant5. 51nce all Trustèes are appoinled by outside bodles, the role of the Foundation In the selection of new Trustees Is to that eent limited. However, the work and needs ol the Foundation are clearly explained to the appolnting bodies so that they are able to select individuals who provlde the necessary complementarity and diversity in the Trustee body. There15 a professional and helpful dialogue between the Foundatlon and the appolntlng bodie5 in connection with appointments of new Trustees. The inductlon proce35 for any newly appolnted Trustee comprlses Snitlal dlseusslons wlth the Law Clerk and. whère necessary, discussions also with the Chairman of the Trustees. FDllowSng appolntrnent a comprehensive induction pack is provided which Includes, inter alia, a brief history of the charlty. varlous mlnute5, Copie5 of annual reports and accounts. coples of governlng documents and variDUS Charlty Commlsslon publicatlons whlch a5515t new Trustee5 to be awa of thelr responslbilities and obligations. Through its Law Clerk, the Foundation has acce55 to a number of organlsatlon5 both local and national that have an interest In best practice and thè development of the charitable grant maklng sector. The Law Clerk 15 himself è lawyer specla15slng In charity work with a leadin8 nlche flrrn of sollcltors wlth a natlonal reputation in the fleld of trusts, particularly relatlng to charitles. He Is a member both of the Charlty Law Assoclatlon and the Eccle5135tical Law Society. Trustees are eThcoura8ed to take up opportunlties lor relevant trustee tralning and the Law Clerk hlrnself provlde5 brleflng papers for all Trustees from tlme to tlme on relevant developments In the Sector. The Foundatlon keeps a re8i5ter of Interests for Trustees. Thls 15 a document whlch15 revlewed annually. The Trustees have been brlefed on the Charlty Governance Code and seek to apply 5t5 8bldance to the work of the FouThdatlon so far a5 the key prlnclples apply and are relevaTht to It5 work as a grant maker. The Tru5tee5 are consclous of the need to Use and review Bood practlce In governance and that adoptln8 8ood practice Is an essentlal part of being modern Krant makSn8 chority. This annual report will show that the key princlples of Good Governance are evidenced in thè work of the Foundatlon.. the Foundatlon Is led and controlled by an effective body of Trustees, who collectively ensure delivery of its objects. SEt and revlew It5 Strateglc direction and uphold the charity's values.. the Trustees exerclse collective re5ponslbllity for the runnln8 and performance ol the Foundatlon., they are conscious of the need to have lut)ctions clearly expressed and to be or8anised so as to operate eflectivelyj the Trustees do perlodically review thelr own an(J the charity'5 effectiveness and are consclous of the need to implement change where a revlew throws up the need for such.. the Trustees are aware of the need to operate with high ethlcal standard5 and a conflict of interest policy and register are both in place. which are annually revlewed., the Trustees recognlse the need for openness. re5pon5ivEness and aCCDuntability in the modern world and seek to reflect this throughout the work of the Foundation.. the risk poliry 15 reviewed annually and developed from time to time.. and the Trustees are aware of the need to blend an approach to diver5ily into their effectiveness, their leader5hlp of the work of the Foundation and In their decision-maksnK. d. Risk Management The Trustees have identifièd and revlewed the major risks to which the charitv 15 exposed. Systems are already established to mitigate those risks. For exarnple. the Foundation makes use of prDfe55ional advisers (who carry liabillty Insurancel, and a strict cheque signSng regime is in place. Page 3
ThE CHURCH BURGESSES EDUCATIONAL FOUNOATION TRUSTEE5' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEIW8ER 2024 ObJertl¥es ond tyrtitIeS Pollcles and oblectl¥es The net income of ihe Foundation Is applled by the Trustees in promotin8 the education lincludln8 social and physical training) of pÈr50ns under the age of 25 years who or whose parents are resident in the Clty of Sheffield and who are in need of fSnancial asslstante and. in particular but withoLrt prejudice to the geTrerality of the fore8oing'. In awardlng to such persons scholarships, exhibltions, bursarles, rnaintenance allowances or grants tenable at any school. unlverslty, college of educatlon or other instltution of hS8her or further IlncludlnR iechnlcal and professionall educatlon approved for the purpose by the Trustees,. In provlding linanclal a5515tance. outfits, clothiTh& books, equlprnent. In5trurrents or tools to asslst such persons to pursue thelr education lincluding the study of muslc or other arts), to undertake travel In furtherance thereof, or to prepare for or enter a profession, trade, occupation or service on leavlng school, unlverslty or other educatlonal establishment,. In maklng grant5 to any instttution or organi5ation, the object5 of whlch Include the prorrotlon of the educatlon Ilncludln8 soclal and physlcal tralftingl of the aforesald beneficlarles. The fulfllment of the Foundation's objectlves to make Èffective and creative use of all opportunlties for 8rant maklng Is evldenced by the commentèry on Its 8rant making activities below. It plans to contlnu? its current pattern of grant support across educatSonal needs In Sheffleld, both to individuals and through organi5ations. However, 11 rernains open to change and gUlarlY review5 It5 grant makiD8 pro8rammts. brln8lng some to an end and expanding others, whllst adoptln8 a constant process of con51deration of new opportunltles. b. Gr•nt.makln8 polkles The Foundatlon has a range of grant makln8 programrnes and has put in place pollcles in relatlon to each of them. For example, there are general policy 8uldelines for maklng Individual educational grants. A well established policy covers srnall 8rant makSng carrled out between meetlTr8s by the Chairman and thè Law Clerk, whlch is reported back to the next meetlng of the Trustees. Appllcatlons are accepted from a wlde range of indlviduals and organisations. Some ol the grant proBrammes have application forms and flnanclal eligibS1ity documentation which re4uires completion, other applications are taken by letter wlth sUPPOrtln8 documentatlon. The Foundatlon recelves 8uldance e.8. frorn 3 Trustee with experlence in higher educatlon in relatlon to educational needs and from the AnglScan Dloce5an Director of Education in rèlation to applScatlOlls from Church schools. All applScatlon5 are revlewed by Trustees at their quarterly meeting5. The Foundation reque5t5 in respect of m05t grants (whether to individuals oi organlsatlonsl that follow up reports are made so that the impart of it5 grant making can be a5se5sed. By the nature of the work whlch the Foundation 5UPPOrtS. mathematical or artuarial calculation is unlikely to produce an accurate pirture of the effectiveness of the grant making. Much of the appropriate assessment 15 subjective. However, where third party verification and assessment is possible thi5 Is frequently sought and obtained. Page 4
TrIE CHURCH BURGESSES eDUC4TIONAL FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Oblectbves and artivltlts Itontlnuedl Oetalls of how to apply for grants are available frorn the Law Clerk and hi5 office. both in hard copy and by e-mail. There is also a sertion about the Foundation on the Trust's web51te. from whlch there are downloadable application forms Iwww.sheffieldchurchburge5ses.or8.ukl. Achlevements 47ndpÈrforn>once a. Chuf¢h Schoo15 The Foundation has an è5tabllshed scheme whlch gives support to Church ol England schoo15 in 5hEffleld. The grant arrangernents straddle calendar and accounting year5. as ihey follow the school academic year. It 15 anticlpated that the flow of funds to church schoo15 over the academic year 2024125 55 likely to total a sum In the re81gn of £34.930 If all grants are taken up. Grant5 were made to SllPPOrt the cost of academic studie5. physlcal education and practical need5. The Trustees have welcorned the diverslty of subject matièr amon6St the applications recelved. The Trustees. general policy is to help to make provislon for attivSties Dr equlpment whlch would not otherwise be vallable, to push forward rnodestly the tJound3ries of educatlon in schools, often In deprlved area5. It Is the po15cy ol the Foundatlon not to 5ntrude on the statutory obligations ol the State. b. Indlvldual Giants lor Educ•tlon These increased from £7,471 In 2023 to £11,076 In 2024. The Trustees have adopted a general pollcy ol a requirement of three years residence in Sheffield and do not treat temporary re51dence in SheffSeld at an educatlonal establishment a5 residence for grant appllcation purposes. Grant support for A Level studie5 15 avallèble only In very èxceptlonal clrcurnstances. Grants for attending independent schoo15 are only considered Whe special need is demonstrated (for example, the death or divorce of a parent.. a child's special need,. a sudden tinancizl dlsaster falllng upon the parent or parents,. where the chlld's need5 are not easlly mel in the state sectorl, c. SpeclDI Indlvldual Grants These Increased from £10.119 in 2023 to £33,131 in 2024. The grant pro8rarnme covers a range of artivitie5 and nEeds. The Trustees seek to bring help where a 8rant from the Foundation tan make a real differencè to an individual. d. Speclal Oryanlsatknn Grants This1Smb of graDt making has Increased from £68.701 in 2023 to £71.790 in 2024. The object of this area of support 15 to encourage organlsations such as youth clubs, recreational Broups, education initiatives and youth work generally. For examplè, grants were made to help with the work 0134th St 05wald's Scout Group. Whlrlow Hall Farm Trust, Whitwork's Adventure5 in Theatre, The Work-wise Foundation, Hype Dance Company, Comrnunity Safety Education and South Yorkshire Courlty Scout Councll. The Trustees are alway5 impressed by the breadth of actiwties in which young people are engaged and the way that SO many of those activities are designed to help both the individua15 involved and other5 In the community or communities in which the activitles take place. The educailonal benefit of such activities is a marked feature of the variou5 programmes. PaEe 5
THE CHURCH BURGESSES EDUCATIONAL FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 Athlevements and perform4nce {contlnuedl •. Famlll•s. Youth and Chlldren's Work Grants under this head of 8rani rnaking aSs$t$ by supporting the cost of Church workers engaging with young people and promotin8 reli8lous education. Early in 2023 the Law Clerk wrote to Sheffield's AnglScan churche5 to invite appllcations for support wlth the cost5 of ernployln8 youth and children's worker5. During the year, grants totalllng £51.5CNJ 12023-. £25,5(} were made to el8ht12023.. three) churches to assSst with thls work. f. Mu* In the aty Help was given to a range of organisatlons totalllnB £23.64712023'. £32,395>, Includlng Mu51( In the Round, The Leadmlll, Steel City Chorlster5 and Utopla Theatre. FlnotKlolrevlvw R•sorv•s Pollcv The accurnulated surplus of unspent Income at the year end wès E210.68512023.' £372,951). The pollcy of the Trustees Is to keep the Surplus of unspent Incorne around the average annual income fi8ure. It Ss expected that the Foundation's reserves wlll fall below these leve15 as repeat grant funding 55 provSded to a number of organlsation5. The Trustees plan ¢0 return to holdln8 reserve5 at thls level In tlme. b. Invastm•nt Polky A5 noted above, the Foundation has no capital Investment5. Accordingly, Its Investment pollcy Is Ilmlted to ensuilng that incorne as received is properly Invested on deposlt until 5t 15 needed for 8rant maklng or other expenditure. The oblectlve Is to ensure that a proper Interest return is earned whllst Income cash is held by the Trustees pending distrlbution or expendlture through the Foundation's actlvltle5. c. Related P¥rtl•s A statement regardlng related parties i5sue5 appear5 later in the accounts. Page 6
THE CHURCH BURGE55ES EDUCATIONAL FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 d. Public Benefit Trustee5 are consclous of thelr le8a1 duty to have regard to the public benef1t 8uldance and the obligatlon specifically to report on how the Foundatlon delivers publlc benefit. The Tru5tee5 are also conscious of the need to bear in mind the guidance wherever It 15 relevant. In the work of the Foundation. The objertlves set by the Trustee5 to dellver the aims of the Foundation are represented by and evidenced in the grant programmes. referrèd to In detall ear15er in thls res)ort. Applying the principles of the publlc beneflt test, the analysls of the artlvlty of the FoundatSon shows th• following.. lal there must be an Identifiable beneflt or beneflts, aThd the benellts delSvered are numerous and wlde ranging. Thev include enhanced opportunities for structured learnln& both wlthln thè school environment and outsSde It. Young people helped wlth 8rant support frorn the Foundation have learned.. team skills. how to extend themsel¥e5 academlcally, how to value themselves and those around them in society. how to develop their physleal and sporting abllitie5. how to refine and extend thelr interest in arts and rnu5ic and their abilltles In those subject5. Throu8h 8rant5 to organi5ations the Trustees have reachèd an even wider spread of people and delivered beneflts across the cityi through actlvltie5 carrled out by chc¢ifS, orchestras, groups of schoolchlldren Involved in project5 wlihln thelr 5chog15 and those Involved In out of school actlvliles. Ibl beneflt rnU5t be to the public or Section ol the public, and the Foundatlon 15 clearly able to deliver what Is requlred, wlthln ihe restrlcted geographltal area defined by its Scheme. The Trustees are satlsfled that the beneflclarie5. already referred to In detail in th15 rèport, are appropriate to It5 alms. No 3dd5tional geographlcal re5trlctions are applSed beyond that contained withln the Schernè and as a 8rant maker the Trust Is not involved Sn Sssues In connectlon wlth payrnent of fees as it is not involved In fee charging. Wherever this is a relevani conslderatlon. the Trustees be3r in mind a desire to beneflt as wlde a 5ectlon ol the public as possible acr055 the beneficiary classes to which its grant makln8 can be directed. •. Revlew of the y••r Total income forthe year was £167,46012023.. £187,5261. The level of cash held at the last day of thè atcountin8 period to 31 Oecernber 2024 was £209,80512023.. £352,558>. The balance sheet as at 31 Detèmber 2024 showed net a55ets of £210.68512023- £372,951). Other than interest on unspent incorne. the sule source ol income lor the Foundation Is from the Sheffleld Church Buf8e5ses Trust and the Foundation's income goe5 up and down in accordance wSth the arnount of money available to the Trust. The Trustees review the Income and cash position at each meeting. Income flows on a regular basls from the Trust through ihe year, with a balanclng payrnent after the Trust has c105ed its accounts in the middle Of the year following the vear end dale if any surplus fund5 are due to the Foundation. For the year ending 31 December 2024 there wa5 such a payment, in the amouni of £74512023.. £20,S811. Page 7
THE CHURCH BURGESSES EDUCATIONAi FOUNDATIOM TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trwte•s' respI)nslbllltles The Trustees are respon55ble for preparlng the Trustees. report and the financial statements in accordance with appllcable law and Urnltèd Kingdom Accountlng Standards (United Kingdom Generally Actepted Accounting Pratticel. The law applicable to charitles In England & Wale5 requires the Trustees to prepare financial staternents for each flnancial which 8ive a true and falr view of the state of affairs of the Charity and of its incoming resources and application of resDurce5, IncludSn8 Its Income and expenditure, for that pèrlod. In preparlng thest financial statements. the Trustees are requlred to.. select suitable accounting policles and then apply them consSstentlv.' observe the method5 and prlnriples ol the Charltles SORP 2019 IFRS 1021,. rnake judgrnents and attountlng estlmates that are reasonable and prudent.. state whether appllcable accounting Standards have been followed.. prepare the financial statements on the going concern bas15 unles5 It Is Inapproprlate to presurne that the Charlty w511 contlnuè busines5. The TNstees are responslble for keepln8 adequate accountln8 rècords that dlsclose wlth rèasonable accuracy ai any tlrne the linanclal posltion of the Charity and enable them to ensure that the financlal 5taternent5 comply wlth the Charltles Act 2011, the Charity IAccount5 and Reports) Regulat5ons 2CK18 and the provlslon5 01 the Trust deed. They arè a150 responslble for safeguardin8 the a55et5 01 the Charlty and hènce for takln8 reasonable step5 lor the preventlon and detertion ol fraud nd other irregularStSe5. Approved by order of the members of the board of Trustees artd $18ned on thelr behalf bv.. Mr tanlty Trustee Date: Page 8
THE CHURCH BURGE55ES El)ufATIONAL FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR TrIE YEAR ENDED31 DECEMBER 2024 Independent Examinerts Report to the Trustees of The Churfh Burge$ Edu¢atlonal Foundatlon I'the Charity'l I report to the charityTru5tee5 on my examlnation of the accounts of the Charity for the year ended 310ecember 2024. Re5pon51bllltlq$ and 8as15 ot R•pfrrt As the Trustees of the Charity you are responsible for the preparatlon of the accounts In accordance wlth the requlrements of the Charltles Act 20111'the 2011 Act'l. I report In respect of my exarnination of the Charlty's account5 carrled out under Section 145 of the 2011 Act and In carrylns out my examination I have followed the appllcable DirertSon5 8lven by the Char5ty CommlssSon under settlon 14515llbl of the 2011 Act. IndNdent Examlne¢s Ststement I have completed my examlnation. I conlirm that no matters have come to my attentlon In tonnectlon wlth thè examlnation 8i¥in8 me cause to believe thai In any material respect.. accountlng records were not kept Sn respect of the Charlty as requlred by 5etllon 130 of the 2011 Act; or the account5 do not accord with those records,. or the accounts do not comply with the applicable qureMents concErnln8 the forrn and content ol accounts set out in the Charitles IAccounis and Reports) Regulatlons 2008 other than any requSrement that the accounts give a 'true and falr, vSew which is not a matter considered as part ol an Independent examlnatS0n. I have no toncerns and have come across no other matters In connectlon with the examlnatSon to whlch attentlon should be drawn In thi5 report in order to enable a proper understanding of the accounts lo be reached. Signed.. Dated.. 2910712025 GMT Slgnei ID.. WK0LTHN8l... Rachel Heath FCCA DChA 8HP LLP Albert Works Sldney Street Sheffleld 514RG Page 9
THE CHURCH BURGESSES EWCATIONAL FOUNDAno STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unre5trlcted funds 2014 Total fund5 2024 Total furnd5 2023 Note Incom• from: Donatlons and le8acles Investments 160,745 6.715 160.745 6.71S 180,581 6,945 Total In¢om• 167,460 167A60 187.526 Expendlture on: Charltable actlvltles 329,726 329,726 247,547 Tot•1 expendltur• 329.726 329.726 247,547 Net movem•nt In lunds 1162.2661 1162.2661 160,0211 Re¢onclllatlon of funds: Total funds brought forward Net movement in funds 372.951 1162,2661 372,951 1162.2661 432.972 160,0211 Total funds c•rrl•d forward 210.685 110,685 372,951 The Staterrent of Flnanclal Artlvitles Includes all gains and losses recognised In the year. Page 10
ThE CHURCH BURGESSES EDUCATIONAL FOUNDATION BALANCE SHEET ASA T310ECEM8ER 2024 2024 2023 Note Current a5ts Debtors Cash at bank and In hand 745 22,248 3S2.558 212,572 213,317 374,806 Current Ilabllltlas Credliors.. arnount5 fallln8 due wlthln one year 12.6321 11.8551 N•t current •95ets 210.685 372,951 T+)tsl n•t aM•ts 210.685 372.951 Chailty tund5 Unrestricted funds 210,685 372.951 Totsl funds 210.685 372,951 The flnanclal statements were approved and authorSsed for Issue by the Trustees and sS6ned on thelr behalf by.. Mr D Stanlev Trustee Date.. 22lY/if. The notes on pa8es 12 to 16 forrn part of these f5nanclal 9tatement5. Page 11
THE CHURCH BURGESSES EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEM8ER 2024 Acwuntln¢ politie5 1.1 Bosls olpreporotlon offlnoftclolstotements The financial statements have been prepared to give a 'true and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2(L)8 only to the extent requ5red to provide a 'true and fair, vlew. This departure ha5 involved following the Charities SOFIP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charitles.. Statement of Recommended Practl£e effective from l April 2(XJS which has 51nce been wlthdrawn. The finan¢lal statemènts have been prepared under the hlstorftal cost conventlon with items reco8n15ed at cost or transactlon value unless otherwise stated the relevant notes to these accounts. The financlal statements have been prepared In accordance with the Statement of Recommended Practlce.. Accountin8 and Reportin8 by Charltles preparing their accounts in accordance with the Financlal Reportin8 Standard appllcable In thè UK and Republic of Ireland (FR5 1021 issued in October 2019 and Financlal Reporting Standard appllcable sn the Unlted Kingdom and Reptsbllt ol Ireland IFRS 1021 and Charlt5e5 Act 2011 and UK Generally Accepted Accounting Practice, The flnanclal statements are preparEd on a 80ing concern basls under the hlstorlcal cost conveThtlon. At the tlme of approving the linanclal staternents, the trustees have a reasonable expectatlon that the charity has adequate resources io continue in operatlonal existence for the foreseeable future. Thlrs. the trustees tontinue to adopt the going concern ba515 01 accountin8 in preparing the linanclal statement5. The Church 8urgesse5 Educatlonal Foundation constitutes a public benefft entity a5 defined by FRS 102. 1.2 Income All income is reco8nised once the Charity has entltlement to the income, It Is probable that the Income wlll be received and the arnotsnt of income recelvable can be measured rellably. 2.3 Expendlture Governance costs are those Incurred in connection with admlnistratlon of the Charlty and cornpllance wlth constitutional and statutory requirements. Charitable actlvltie5 and Governance costs are cost5 incurred on the Charity's operation5, including support costs and c05t5 relatlng to the governance of the Charity apportioned to charitable actlvltles. Grant5 payable are charged in the year when the offer is rnade except in those cases where the offer is condltional, such grants being recogni5ed a5 expenditure when the condltions attaching are fulfilled. Grants otFered subject to condition5 which have not been met at the year end are noted as a commiimenl, but not atcrued as expendlture. 1.4 InterestRecelvoble Interest on funds held on deposit is included when receivable and the arnount can be mea5urEd reliably by the Charity,. this is normally upon notification of the interest pald or payable by the Bank. Page 12
THE OIURCH BURGESSES EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENT5 FOA THE YEAR ENDE031 DECEMBER 2024 Ac¢ountln8 pollcles Iconilnuedl 1.5 Debtors Trade and other debtors are recognised at the settlement amount after any tradE d15count offered. Prepayments are valued at the amount prepald net of any trade discounts due. 1.6 Cash ut Bonk Èynd In hund Cash at bank and In hand Includes cash and short term highly Ilquid investrnents wlth a short rnaturlty of three months or less from the date of acqui51tion or c¢peDin8 ol the deposit or similar account. 1.7 Llobllltles rndprovlslons LSabllltles are rècognlsed when there Is an obli8ation at the Balance sheet date as a result of a past event, It Is probable that a transfer of economic benèf5t wlll be requlred In settlement, and the amount of the 5ettlernent can be estlmated reliabl¥. Liabilitlès are reco8nised at the amount that the Charlty anticipates it wlll pay to Settle the debt or the amount it has received as advanced payments for the goods or servlces it rnust provide. Provlslons are rnea5ured at the best estlmate of the amounts requlred to Settle the obllgatlon. Where the effect of the tlrne value of money Is materlal. the provlslon Is based on the present value of those arnounts. discgunted at the pre-tax discount rate that rellect5 the rSsks speclfic to the Ilablllty. The unwindln8 of the dlsiount is recognlsed wlthin interest payable and 51milaf char6es. 1.8 Flnonclallnstruments The Charity only ha5 flnanclal assets and financial Ilabili15e5 of a klnd that qualify as basSc flnancial Instruments. Baslc flnancial Instruments are Inltlally reco8nlsed at transactlon value and subsequently measured at thelr settlement value wlth the exceptlon ol bank loans which are subsequently measured at amortlsed cost uslng the effectlve lrterest method. 1.9 Unre5trfrted Incomefvnds General fund5 are unrestritted lund5 which are available for use at the di5cretlon of the Trustees In furtherance of the 8enèral oblectlve5 of the Charlty and which have not been de51gnated for other purposes. Page 13
THE CHURCH BURGESSES EOUCATIONAL FOUNOATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Chafltabl• Actlvltles Unr•5trlcted funds 2024 Total funds 2024 Total funds 2023 Gronts Payable IndSvldual grants for Edutatlon Speclal IndSvldual Grant5 Muslc In the Clty Church School Grants Special Organisatlon one off grants Fam115es Youth & Chlldrens Work SpecSal Inltlatlv?5 Grants wrltten batk 11,076 33.131 23,647 78,133 71,790 51,5C4J 1,295 12,7671 11,076 33,131 23.647 78,133 71,790 51,5fy) 1.195 117671 7,471 10,119 32,395 46,337 68,701 25,SCA) 267,805 61.921 267.805 61,921 190,523 57,024 Governance costs (note 31 329,726 329,726 247.547 Total 2023 247,547 247,547 Page 14
THE CHURCH BURGESSE5 EDUCATIONAL FOUNDATION NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECFMBER 2024 Governanc• costs Unrestrlrted funds 2024 Totsl fvnds 2024 Total funds 2023 Independent Examlnat5on costs Legal & Prolesslonal Informatlon Comrnlssloner 1,950 59,7 1,950 59,700 40 1,855 54.9c#J Bank charge5 Trustees expense5 139 139 122 92 92 107 61,921 61.921 57,024 Total 2023 57,024 57,024 During the year, no Trustees received any remuneratlon or other beneflt$12023- £nlll, Durin8 the year ended 31 December 2024, tTU5tee expenses totalllng £92 were pald to 4 Irustees12023.. £1071 have been paid in rèlatlon to travel. parking and mlleage. O•btors 2024 2023 Sheffield Church 8urge55es TrL*St Prepayment5 and accrued income 745 20.581 1.667 745 22,248 Page 15
THE CHURCH 8URGESSES EDUCATIONAL FOUNDATION NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2024 Credltots.. Amounts falllng due wlthln one ytar 2024 2023 Trade tredltors Accrua15 1.950 1,85S 2,632 1,855 R*tst•d PartyT1anrtIonS The Shefrield Church Bur8e5se5 Trust Is a re8lstered charlty. The Foundatlon derfve5 its Incomè from the Tru beln8 17.8% of their incorre, and a rnalorlty of the Foundatlon's trustees ore appointed by the Trust. The Trust15 adminlstered frorn Its offices at.. Derwent 4ouse Sheffield There were no related party transactlons durSng elther year. Page 16