CHAIUTY REGISTRATION NUMBER 529372 AND 529350
SHEFFIEI,D C.RAMMAR SCHOOL
EXHIBITION FOUNDATIO
AND
THE FULWOOD EDUCATIONAL ENDOWMENT
UNAUDITED FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED JI MARCH 2025
UHY

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
AND THE FULWOOD EDUCATIONAL ENDOWMENT
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Prof. M Bateman
J M Ferrctti - Chair
Z Hamid
S C Turner
Dr. R Cutting
G E Greenup
S Fowler
B Musonda
L4w Clerk
S M Greaves
Chgrlty Admlnlstrltor
G Mills
Cbarlty number
529372 and 5293SO
Prln¢lpAI addrtts
o Wrigleys Soli¢itor8 LLP
Derwent House
150 Arnndel Gate
ShetTield
South Yorkshire
SI 2FN
Independent examlner
M Mealing Bsc FCCA
UHY Hacker Young
6 Bro8dfield Court
Bro8dfield Way
Sheffield
S8 OXF
Sollcltor8
Wrigleys Solicitors LLP
Detv/¢nl House
1 SO Arundel Gate
ShetTield
South Yorkshire
SI 2FN
Investment advlson
Raihbones Group pl¢
Beech House
61 Napier Street
Sheffield
SII 8HA

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
CONTENTS
Page
TnLStees' report
SHEFFIELD CRAMMAR SCHOOL EXHIBITION FOUNDATION
Independent examiner's report
Statement of financial activities
9-10
Balance sheet
Statement of cash flows
12
Notes to ¢he accounts
FULWOOD EDUCATIONAL ENDOWMENT
Statement of f5nArtrial activities
26
Balance sheet
27
Statement of cash flows
28
Notes to the a¢¢ounts
29
APPENDIX A
R¢nt received
30

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The I￿Stees present their annual report and financial statemcnts for the year ended 31 Mar¢h 2025.
The financial statements have been prepared in accordance with the accounting poli¢ies set Oul in note I to
the financial statements and comply with the ¢harity's scheme of the Charity Commissioners. the Charitie5
Act 2011 and "Accountin8 and Reporting by Charities.. Statement of Recommendcd Practic¢ applicable to
chhrities preparing th¢ir accounts in accordance with the Financial Re￿rtIn8 Standard appli¢able in the UK
and Rcpublic of Ireland (FRS 102) (¢ff¢¢tive l January 2019)"
Objectlves and &ctlvltles
The objectives of the Foundation are as follows..
l. Awarding to beneficiaries scholarships. bursaries or maintenance allowan¢¢s tenable al any school,
universiiy or other place of learning approved by the Governors;
2. Providing financial assistance, outfits, clothing. tools, instnjmenls or books to enable beneficiaries on
leaving school or univer51ty or any oiher educational establishmeni io prepare for or io a&si$t their ¢ntry
inio a PTofession, trade or calling.
3. Offering awards, scholorship$ or maintenance allowances io enable bcncficiaries to Iravel abroad to
pursue their education:
4. Providin8 or assisting in the provision of f8cilities of any kind not nornially provided by the local
Education Authoriiy for recreation and social and physical training including the provision of Coaching in
athletics, sports and games for ben¢ficiari&8 who arc receiving primary, secondary or further education.
S. Providing financial assistance to enable beneficiaries io study music or other art$.
Beneficiaries are persons resident in the City of Sheffield who, in the opinion of the Governors, are in need
of financial assistance.
There have been no changes in the objectives of the Foundation since the laBt report.
The fulfilment of the Foundation's objectives to make eff¢ctiv¢ and creative usc of its opportunities for
grant rnaking is evidcnced by the commentary on irs grant making activities b¢low. It5 main objectives for
the year were achieved by continuing its long standing support to ¢ducationBI ne¢dg and projects in rhe City
of Sh¢tTield.
It is the policy of the Foundation in its grant makin¥ to support needy educational causes in ShetTield, to
SUPIKIrt needy individuals who can b¢n¢fil from charitable sUPPOrt in u wide variety of educational areas
and io widen and enhance the opportunities for educational advancement available to Sheffield residents.
Where a grant is made to an organisation. li is viewed as either a pump priming grant for a longer term
projcct or related io activities and projects taking place in the course of that year. The Foundation does not
favour Jnaking long temi fimding grants. Where relevant. the Foundation favours matched funding to
encourage and facilitate the raising of support for a Cause or organisalion.
The Foundation continued with its ￿]stIng grant programmes this year, as well as seekin8 Ollt new grdnt
making opportunities through contacts by the TnLStees and through the Law Clerk. The Foundation has a
dedicaled w¢bsite.

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The day to day administration of the FoundE4tion, work in connection with its Inc0￿e, liaison with outside
bodies and advisers, the administration of its grant programm¢s and the process and handling of
applications prior to and after their consideration by Irustees, is all work delegated to the Law Clerk and h¢r
staff.
From lime to time the ttwle¢s consider policy and strategic matters. The trustees also consider the
monitoring infomiation obiained concerning performance of grants.
The tnLqttts have paid due regard to guidance issued by the Charity Commission in deciding what activities
the charity should undertake. The Foundaiion has a range of 8Tant-making programmes and where
appropriate has policy considerations which it applies to guid¢ th¢ delibcralions of the trustees.
All suitable applications Are reviewed by Trustees at their quat1erly meetings. In the ¢ase of application$
from or8anisation5. in most cases 8 Truste¢ will contact the applicant to discuss their application prior to the
relevant meeting.
The Foundation makes il a condition of most grants (whether to individuals or organisations) that follow-up
reports are made 50 that the impact of its grant-making can be assessed. By the nature of the work which
the Foundalion 5UPPOt1s, mathematical or ac￿arIaL ¢alculation 18 unlikely to PTodu¢e an accurate picture of
the effectiveness of the grant-making. Much of th¢ appropriate ￿SeSsment is subjective. Howev¢r, where
third party verification And assessment is possible, this is frequently sought and obtained.
Details of how to apply for grants are available from the Law Clerk and her office, both in hard copy and
by e-mail, and also may be downloaded from the Foundation website at www.sgsef.org.uk.
Achlevements and performante
In the course of the year individuals received grants for a wide range of educfttional ￿tiVIties.
Applicants needing help with the costs of educational course8 received 8rants for studies in. for example..
Dance and musical theatre, law, psychology and couns¢lling.
Through their contacts with the Educational Services the Trustees are able to offer to Bssist with the costs of
language intensiv¢ courses which would not otherwise be available to young language students of Sheffield
s¢hoo15. This has developed into a mature grant programme of great benefit to Sheffield School children.
Help has been Biven for those in educational training for a retUTn to work or a new direction in their
working lives, e.g. counselling.
Arts feature in the range of grants made. for exomple, lo Concerteenie5 and Steel City Choristers.
The Trustees were once again impressed by the pl¢thora of activities of an educational nature which
applicants are seeking to follow. It is also encouraging to see ihat h¢lp can be given, sometimes at a modest
level, at critical times in the edu¢ation of those seeking to improv¢ themselves or re￿rn to work, often after
period of raising and carin8 for children.

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees ke¢p under review Oppor￿nItieS for new initiatives, so far as they are able within their means.
and liaison is maint8in¢d with other educational charities to keep open the channels for exchang¢s of ideas
and an understanding of the different emph&qes in grant making.
The Foundation measures lis achievements by the breadth and success of its grant making. Its grant making
is effective when it meets the real needs of individuals and organisalions, making it possible for them io
cany out activities or deliver thcir own charitable objectives, in ways which would be impossible or on a
much smaller Scale without th¢ Foundation's support.
The indicator used by the Foundation lo measure the sU￿esS of its grant making is the effectiveness and
Uscfulness of the grnnt expenditure. This indicator is evidenced by feedback from organisaiions. through
Trustee visits and Commonly through written ￿portS. In relation io individuals rhe evidence is found in the
often very enthusiastic reports prepared by those involved in exciting projects around the world, whether it
be success in music or sport, or an environmental project on another continent.
The Foundation is dependent for the a¢hievement of its objectives on having an adequate number of
appropriat¢ applications. The contacts it maintains through the universities, the local authority. Sheffield
Collegc, organisations and individuals. as well as the contacts of the Law Clerk and the Tnjsiees themselves
and the website. normally produce a good flow of applications.
Public benefit
AII TNsiees have had And considered the Commission's publications and are conscious of their legal duty
to have regard to the publi¢ benefit guidance and the obligation specifically to r¢port on how the
Foundation deliver5 public benefit. The Trustees ar¢ al80 conscious of thc need to bear in mind boih general
and supplement&ry guidance wherever they are rel¢vant, in the work of the Foundation.
The objectives set by the Trustees to deliver the aims of the Foundation are represented by and evidenced in
the Bronl programmes, referrcd io in deiail earlier in this repoll.
Applying the principles of the public beneftt t¢sL the analysis of the activity of the Foundation show5 the
following..
l. Principle- there tnust be an identifiable benefit or benefits.
The benefits delivered are numerous and wide ranging. They include enhanced opportunities for structured
learning, both within the school environtnent and outside it. Young people helped with grant support from
the Foundation have learn¢d: team skills. how to extend themselves academically, how to value themselves
and those around them in soeicty* how to develop their physical and sportin8 abilities, how lo refine and
extend their inL¢r¢st in arts and music and their abililics in those subjects.
Through grants to ooanisations ovcr the years, th¢ Trustees have reached an even wider spread of people
and delivered benefits through activities carried out by those involved in outward bound typ¢ activity
together (¢.g. Scouting) and organisalions reaching out to the educational needs of children not readily dealt
with in the Classroom. These include CRESST, Whirlow Hall Fann Trust, Hope English School, Linley
Educational T￿￿1 and Work Ltd.

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2. Principle- benefit must be 10 th¢ public or a section of the public.
The Foundation is ¢learly Able to delivu what is required, within the restrict￿ geographical area defined
by ils Scheme. The Trustees are satisfi¢d that the bencficiaries. already referred to in detail in this report.
are appropriate to its aims. No additional geographical restrictions are applied beyond that contained within
the Scheme and as a grant maker the Foundation is not involved in issues in connection with the paym¢nt
of fees as it is not involved in fee charging. Wher¢ver this is a relevant consideration, the TNstees bear in
mind a de51re to benefit as wide a seetion of the public as possible across the beneficiary classe5 to which
its grant making can be directed.
Flnan¢lo1 revlew
It was anoiher ¢hallenging year for the investment portfolio, whi¢h was inevitably damaged by global
ev¢nls. The position remains satisfactory however.
The objective with regard to the property eslal¢ is for it to be in 8ood order and ￿llY tenanted on as stable
basis as possible. The Trnstees keep th¢ portfolio under review, under the 8uid8nce of the Surveyor, and
idcnlify propertie8 Ihal are unlikely lo Contribute to thai objective, which may be disposed of. During the
year, one property was sold and a number of other8 are marketed for sale.
Th¢ number of individuals who received grants over the twelve month period totslled 27 (2024.. 43), and
including 18ngua8e courses paid for represents expenditure of £25,829 (2024.. £30.607). Grants paid to
OT8anisations totalled £84,300 (2024: £58,622). Total charitable expendifttre was £370,642 (2024..
£299.493).
Income for the year was £184,776 {2024.. £179,134) from ihe stock market property investments, all of
which forn) the Foundation's pern)anent endowment. It is these two source5 of in¢ome that make the work
of the Foundation possible. The value of the investment portfolio increased during the year to £2,254,531
12024.. £2.238,970).
Powers of Investment and Investment Poli¢y
The Govemor8' powers of inve51m¢nt are subjeci to the Trustee Act 2000.
Pursuant to the powers available under the Trustee Act 2000, TNslees have adopted a discretionary
management atTangement with Investec W¢alth and Investinent Ltd.
The investment policy of the Foundation is ¢onsistent with the overall objectives of the charity, to provide
income available for distribution for charitable purposes in the provision of grants for educ8tional purp05¢S.
whilst maintaining a capital base to generate this income.
Income is sourced from property investment and from stock5 and shares. The portfolio of quoted
investments includes fixed interest stock and equities, both UK and overseas. The policy is to maximise
income whilst preserving the value of the ¢apital base at l¢ast in line with inflation adopiing an investment
strategy of moderate risk.
The value of the pennanent endowment at 31 March 2025 was £3.412,173 (2025.. £3.422,650).
Investtnents acquired by ¢h¢ charity during the year have been acquiied in accordance with the powers
available under the governing instrum¢nts and statute. The Trnstees believe that the endowment. designated
And unrestricted fijnds, are adequate and available to ￿lfIl the obligations of the charity-

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Principal Funding Sources
Thi$ 1$ an endowed charity. Its funds are derived from rentsl and dividend income arising frorn the
permancnt endowmetst ass¢ts.
The Trugttt policy statement requiTes the diserettonary managers to avoid direct investment inlo companies
whose principal business is involved in tobacco products, gamblin8 and armaments. These are the only
¢thical resiriciions imposed on the investments of th¢ Foundation.
Reserves Policy
The Foundation's policy is to hold only such income funds as it needg to support its operation on a year by
year basis. bearing in mind its obligations as a property owner. Upgrading and development works relating
to a numbw of the Foundation's properties hav¢ been ¢aThied out in re¢ei)t years, bul properly costs remain
significant and at times unpr¢di¢table.
The Trustees aim lo spend as much of their i￿ome as is possible and prudent on chariiable expendi￿re 10
fulfil ihe objccts of the charity. The position at the year end leaves the Trustees able to pursue their futyre
grant makin¥ activities with ¢onfidence.
Risks
Attention is given regularly to th¢ m8nagemenr of the &qsets of the charity which arc held to enable it to
carry out its charitable objectives. A financial review, a report from the di$¢r¢tionary investment managers
nd a property report Bre part of each meeting of the Trustees.
As a matter of best practice, the Trnslees arc cons¢ious of ihe need to consider risk. The Trustees address
and seek to mitigate the principal areas of risk by engaging and relying upon professional investment
managers (who carry indemnity insurancc), qualified pruperty professionals in relation to its real property
holdings and by instruetiog & Law Clerk who is legally qualified and carries professional indemnity
insurance tI￿ough her own practice.
Review of the Year and Plans for the Future
The Intensive Language Visits progrAtnmc is highly valued by local schools. enabling pupils to visit
European countries and the Foundation collaknrates with Learn Sheffield in makillg these grnnts. Students
have continued to apply to th¢ Foundation who are looking to do further study but findin8 difficuliy in
rE4i5ing anythin8 approaching adequate ftu]ding levels for the courses to be possible.
The Governors plan to continue with their existing 8rant programme. seeking to reach beneficiari¢s in
Shefficld a5 effectively as possible.

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
TRUSTEESI REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure> governance management
The Foutsdation is unincorporated and governed by a scheme of the Charity Commissioners approved on 29
June 1888 and altered by various schemes dated 14 March 1890, 26 November 1897, 13 March 1905. 26
July 1918, 9 January 1925, 24 January 1957 and 17 January 1979.
The Trustees of the Fout)dation and the Endowment arc known as Governors. They are referred to in this
report as either Governors or Trusle¢s.
The trustees who served during the year We￿..
J Boulion
Prof. M Bateman
J M Ferretti Chair
Z Harnid
S C Turner
Dr. R Cutting
K AAuslin
G E Greenup
S Fowler
B Musonda
(R¢signed 2 De¢ember 2024)
(Resigned 3 Jurte 2024)
Two Trustees may be appointed by the University of Sheffield, Iwo by the Sheffield Town Trust, Iwo by
Children and Young People's Service of the Council and four by ShelTield City Coun¢il itself. There is
maximuin of six co-optative Trustees appointed by the whole Trustee body. The Vicar of Sheffield (now the
Dean of Shefifield) is An ex-officio Governor.
Co-optslive trustees are appointed after enquiries made through the ¢xi8ting Trustee body, from which the
potential candidate or candidates islare identified.
New Tn￿leeS are provided with an irtduction pack by the Low Clerk which includes not only copies of
minutes of recent mectings and of TnLsl¢¢s' Report5 and Accounts but 8lso Copies of documents relating to
the 8ov¢rnance of the Charity. In addition. do¢umentatitsn with regard to Trustees, duties and responsibilities
are provided.
Trnstees ar¢ offered the opportunityj at the expense of the ch&rity. to attend relevant Trustee trainin8 courses
and the Law Clerk offers guidance at all time5. especially to new Tnjstees on l¢gal, governance and
administrative matters.
Th¢ TNstees meet at leasi four times each year, at all of which gatherings decision8 are made about the life
gnd work of the Foundation, which ar¢ then implemented through its TTh￿tees, officers and advisors.
Through it5 Law Clerk, the Foundation has access to a number of organisations both lorai and national that
have an in1¢￿St in best practice and the development of the charitable grdnt making sector. The Law Clerk
18 herself a lawyer Sp￿la118]ng in charity work with a leading fim of solicilors with a national reputation in
the fields of trusts. particularly relating to charities. She is a member of the Charity Law Association.

SHEFFIELD GIL4MMAR SCHOOL EXHIBITION FOUNDATIOIY
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Fulwood EducAtlonAI Endowment
The Governors have continued in iheir care of this small endowment. It is only occasionally possible lo
make grants from the Endowmeni'g income, when appropriate applications are to hand and when the
distributable income balance permits.
The trusttts, report w4s approved by ihe Board of Tn￿lees.
J M Ferrettl - Ch#lr
Thjstee
Dated.. 22 September 2025
S C Thrner
Trustee

UHY
6 Broadfield Court
Broadfield Way
Shcffield
S8 OXF
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHEFFIELD
GRAMMAR SCHOOL EXHIBITION FOUNDATION
I report lo th¢ trustees on my examination of the financial sialements of Sheffield Gramrnar Sch(M)l Exhibition
Foundation and The Fulwood Educational Endowment (the charity) for the year ended 31 March 2025.
R¢ypon$lbllltles #nd bag15 of report
As the trustees of the charity you are responsible for the preporation of the financial s¢at¢ments in accordance
with the requirements of the Ch8rities Aci 2011 (the 2011 Act).
I report in respect of my examination of the charity'$ financial statements carried out under section 145 of the
2011 Act. In carryiDB Out my examination I have followed all th¢ opplicable Directions given by the Charity
Commission under section 145(5)(b) ofthe 2011 Act.
Independent ¢xAmlner'i st&tem¢nt
I have complc¢cd my examination. I confirm ihal no matters hav¢ come to my attention in connection wilh the
examination giving me causc lo believe that in any material resp¢cl'.
accounting records w¢re not kept in respect of the charity as required by section 130 of the 2011 Act. or
the finan¢ial statements do not accord with those re¢ords' or
the finaiicial statements do not comply with the applicable requirements concerning the fonn and Content
of accounts set out in the Charities (Accounts and Repottsl Regulations 2008 other than any requiremenl
that the accounts give a true and fair view which is not a rnatter considered as part of an independent
examination.
have no concerns and have come across no other matterg in connection with the examination to which
attention should be drawn in this rewrt in order to enabl¢ a proper understanding of the financial statements lo
b¢ reached.
M MeAllng Bsc FCCA
UHY Hacker Young
Chartered A¢¢ountants
Dated.. 22 September 2025

o < <

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATIOIY
BALANCE SHEET
AS AT 31 MARCH 2025
2DIS
2024
Notes
Flxed gsset9
Intangible 8SS¢ts
Investment property
Inves￿ents
12
13
14
1,600
722.500
2.254.531
2,200
l.125,000
2,238,970
2.978,631
3.366,170
Current asset8
Debtors
Cash at bank and in hand
15
417.807
403,117
51,882
487,778
820,924
539,660
Creditors: Amounts falllng due wlthln
one year
16
(109,661)
(40.(￿)7)
Net current a88ets
711,263
499.653
T•tal Assets less curren¢ IIAbllltl¢$
3,689,894
3.865,823
CApltal funds
Endowment funds
General unrestricted ￿ndS
DeSi￿ated funds
3.412.173
267,195
10.526
3,422,650
432,647
10,526
17
3,689,894
3,865,823
The financial s¢aiement$ were approved by the twstees on 22 September 2025
J M Fcrretti - Chair
Trustse
SCThm¢r
Trustee

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating #etlvltles
CBsh absorbed by opcrutions
20
(672.312)
(379.921)
Inve$tSng a¢tivl¢te8
Proceeds on disposal of investment
propcty
Purchase of other investrnents
Proceeds on disposal of other investments
Jnve8tment income received
391,778
(468,898)
479,995
184,776
460,0(K)
(163,785)
161,469
179,134
Net cJi8h gener*ted from Investlng
*¢tlvltleJ
587,651
636,818
Net ca8h used In tlnanclng actlvltlei
Net (decreA8e)Ilncre*se In cash and cash
equlvalenti
(84,661)
256,897
Cash and cash equivalents at be8innin8 of year
487,778
230,881
Cayh And cA$h equlvlllents At end of year
403,117
487,778
12

SHEFFIELD GRAMMAR SCHOOL EXHIBITIOIY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Attounting polScle$
Company information
Sheifield Grammar School Exhibition Foundation is a charity (charity number 529372 and 529350) The
principal address is ¢/0 Wrigleys Solicitors LLP, Derwent House. 150 Arundel Gate, She￿]eld, South
Yorkshire, Sl 2FN. The Foundation is unin¢otporated and governed by a scheme of the Charity
Comrni58ioners approved on 29 June 1888 and altered by various schcmcs dated 14 Morch 1890, 26
November 1897. 13 March 1905, 26 July 1918, 9 January 1925, 24 January 1957 and 17 January 1979.
1.1 Accountlng ¢onventlon
The financial statem¢nt8 have been prepared in accordBnce with the charity's scheme of the Charity
Commissioners, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with the Financi41
Reporting Standard gpplicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019)"
The charity is a Public Benefit Enlity as defined by FRS 102.
The financi01 scatements are prepared in gterling. which is ihe fvnction81 currcncy of the charity.
Monetary amounts in these financial st8tern¢nis are rounded to thc nearesl £.
Th¢ financial statements have bcen prepared under the historical cost convention. modified io includ¢
the revaluation of frtthold properties and to include investmeni properties and certain financial
instThments gt fair value. The priricipal accounting policies adopted ar¢ set out below.
1.2 Colng con¢ern
Ai the time of approving the financial statements, the trustees have a reasonable expectation that the
charity has adequate ffsources to ¢ontinue in operational existence for the foreseeable fvture. Thus the
trust¢e8 Continue to adopt ¢he goiny con¢em basis of accounting in preparing the financial statements.
1.3 Ch•rltable fund$
Unrestricted funds available for use al the discretion of the trustees in hrtherance of their charitable
objectives.
Th¢ designated fvnd represents funits set aside out of the unrestricted funds by the Trust¢¢s for specific
purposcs.
Restricted funds are subject to specific conditions by donor8 or grantors &8 to how they may be used.
The purposes and uses of th¢ restricted fijnds are set out in the notes io the financial 8tstements.
The endowm¢nt fund represents those assets which must be held permanently by thc charity. Income
arising on the endowtt]ent fill)d can be used in accordance with the objxts of the ¢harity and is included
&5 unrestricted income.

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
NOTES TO THE FINA]YCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
(Continued)
1.4 Incomlng reJources
Incoming resour￿ are accounted for on an a¢cnJa15 basis. Provision is made for rents due but not
received at the year end.
Incoming resources from endowment investments are treated as unrestricted income.
1.5 Resources expended
Resources expended are included on an accruals basis and are recognised where there is a legal or
consiructive obligation to pay Cor expendiLure and include t￿ecover8b1e VAT. All costs have been
directly attributed to on¢ ofthe activity ¢ategorie$ of r¢sources expenses in Ihc SOFA.
Costs of generating ￿ndS comprise investment brokers fees incurred in mano8ing the charity's
investment portfolio.
Governance costs include those incurred in thc govemance of the charity and lis assets and AR primarily
&ssociated with consti￿tIOnal and statutory rcquirements.
Grants payable are accounted for when the award becomes unconditional.
1.6 Intxnglble flxed *s$et$ other than goTrdwlll
Intangible assets acquired separ#￿lY from a busines$ are re¢o8ni5ed at cost and are 8ubsequent]y
measuTed at cost less accumulated arnortisation and accumulated impairment losses.
Intangible assets acquired on business eombirt8tions are reco￿)ISed separately from goodwill at the
acquisition date whcr¢ it is probabl¢ that the expected future economic benefits that are attributable to
th¢ assel will flow to the entity and ihe fair value of the as8et clln be measured reliably; the intangible
asset arises from conlractual or other legal rights,. and the intangible llsset is sep8Table from the entity.
Amorti5ation is recognised so as to write off the cost or valuation of assets less their residual values over
their us¢ful lives on the following bases:
Software
Straight line over 5 years
1.7 Investment propertley
Investment property. which is property held io eam rentals an(Vor for capitsl appreciation. is initially
rc¢ognised at cost, which includes the purchase cost and any directly attributable eXpendi￿re.
Subsequently it is m¢asured at fair value at the reporting end dat¢. The surplus or deficit on revaluation
is reCOgni￿d in profit or1058.
1.8 Flxed asStt investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
income/(expenditUTe) for the year. TraTWCtion costs are expensed as incurred.
14-

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcles
{Continlled)
1.9 ImpAlrment of fixed assets
At ¢a¢h reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets
to deterniine whether ther¢ is any indication ihat those assets have suffered an impairment logs. If any
such indication exists, the r¢¢overable amount of the asset is estimaied in order to deierniine the extent
of the impaimjent loss lif any).
Recoverable amount is the higher of fair value le$¥ Costs to sell and valuc in use. In assessing value in
use, the estimaied future cash flows are discounted io their present vAIu¢ using a pr¢-lax discount rate
that Tefleets current market a&sessmenls of the time value of money and the risks specific lo the asset for
which the estimates of future cash flows have not been adjusted.
If the re¢oveTable amount of an asset is estimated to be le￿ than its carrying amount, th¢ carryin
amount of Lhe asset is reduced to its recoverable amount. An impairment loss is reeognised immediaicly
in incomel(expenditure for the year. unless the rclcvant asseL is Carried at a revalued amouni, in which
cAse the impaimieni loss 1$ treaicd a5 a revaluation decrease.
R#o8nised impaimient losses are reversed if, and only if, the rewns for the impainnent loss have
¢eased to apply. Where an impairment 1055 subsequently reverses, th¢ carrying amount of the asset is
increas¢d lo tl)e revised estimate of its recoverable amount, bul so that the increased carrying amount
doe$ not exceed the carrying amount that would have been det¢rmined had no impainnenl loys been
re¢ognised for the ￿Set in prior years. A reversal of an impairnicnt loss is reL'ogni5ed immediately.
unle58 the relevAnt asset is carried in al a revalued amount, in which case the reversal of the impairnienl
loss is treated as a revaluation increase.
1.10 Cash and cash equlvalents
Ca¥h and cash ¢quivalent5 include cash in hand, deposits held Bl call with banks. other short-lerni liquid
investment5 Wlth original maturities of three months or Icss, and bank overdrafts. Bank overdrafts are
ghown within borrowin8$ in current liabilities.
1.11 Flnan¢lAI Instruments
The charity has elecied 10 apply the provisions of Section I I 'Basi¢ Financial InstnMnentS' and Section
12 '0th¢r Financial Instnuncnts Issues, of FRS 102 to all of ils financial instruments.
Financial instTuments are re¢ognised in the eharity's balance sheet wh¢n the charity become5 party to the
contractual provision5 of th¢ in81rutnent.
Financial assets and liabilities are offset, with thc net amounts presented in the finHncial slatements.
when th¢re is a legally enforceable ri8ht to set off the reco8nis¢d amounts and there is an in￿ntion to
settle on a net basis or to rcalise the ass¢t and settl¢ the liability simultaneously.
Bask fln¥nclalassats
Basi¢ financial &ssets, which in¢lude debtors and cash and bank balances. are initially mcasured at
transaction price ineluding transaction costs and are subsequently Ca￿led at atnortised cost Using the
effective interest m¢thod unless the aTrangement constitutes a financing transaction, wh¢re the
transaction 15 measured at thc present value of the fiJtur¢ rcceipts discounted at a market rate of interest.
Financial &ssets classified as r￿e1Vable within one year are not amortised.
15_

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
IYOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Imp•lrnMnt of fin•ncl•l •s8ets
Finan¢iAI assets, other than those held at fair value through in¢ome and expenditure, ar¢ assessed for
indi¢ators of impairmcnt at each rep)rtin8 date. Financial assets are impaired where there is objective
evidence that. as a resuli of one or more events that o¢¢urr¢d after the initial recognition of the finan¢iAI
asset, th¢ ￿tiMated future cash flows have been affccled.
If an asset is impaired, the impairnient loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the asset's originlll effective interest rnte. The
impairnjent loss is r¢cognis¢d in net incomc/(cXpendI￿reI for ihe year.
If ther¢ is a decrease in th¢ impaimienl loss arising from an event occurring after the impairnient was
ogni5ed, the impaimient is reversed. The reversal is su¢h that the ¢utTent ca￿ing amount does not
exceed what the carrying amount would have been, had the impaimient not previously been recognised.
The impaimieni reversal is recognised in net incomel(expenditure) for the year.
Der•eognlllon olfln•ncl•l •3s•ts
Financial assets are der¢cognised only when the contra¢tyal rights to the cash flows from the asset
expire or are settled, or when the ¢harity transfers th¢ financial asset and substantially all the risks and
rewards of ownership to another entity, or if some significant risks and rewards of ownership are
retained but control of the asset has transferred to another paty that is able to sell the os8et in its entirety
to an unrelated third party.
BJsl¢ Ilnanclal Ilabllldo$
Basic financial liabilities, including creditors and bank loans are initially recognised at Iransoction PTice
unless the arrangement conslitul¢s a financing transaction, where the debt instnjment Is measured at the
present value of the future payments dis¢ounted at a market rate of intere81. Finan¢ial liabilities
ela55ified as payable within one year arc not amortised.
D¢bt instNments are subsequently carried at amortised cos¢ using th¢ effective interest rate method.
Trade Creditors Ar¢ obligatiorjs to pay for goods or services thai have bcen acquired in th¢ ordinary
course of operations from suppliers. Amounts payable are rlossified as current liabilities if payment is
due within one year or Icss. If not, they are presented a5 non-current liabilities. Trade creditors are
re¢ognised initially at transaction price 8Dd subsequently measured at arnortised c08t using the effeetive
interest method.
Dor•cognlrfoft offlnanclal 118bllltl•s
Financial liabilities are derwognised when the charity's contractual obligations expire or are dAscharged
or cancelled.
1.12 Recognltlon of Ilabllities
Liabiliti¢5 are recognised on the accruals basis, including recognition of grants payabl¢ where such
grdnts ar¢ unconditional.
16-

SHEFFIELD GIL4MMAR SCHOOL EXHIBITION FOUNDATION
IYOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Crltlc*l aecollntlng e8tlm*tes and Judgements
In ihe application of the charity's accounting poli¢ies, the trustees are required to make judgerncnts,
esti￿at¢S and assumptions about the carrying amount of assets Bnd liabilities that are not readily
apparent from other sour¢e8. The estirnates and as8ociated assumptions are based on historicAI
experience and other fa¢tors that are considered to b¢ relevant. AC￿al results may differ from these
estimate$.
The estimates and underlying assumptions are reviewed on an ongoing basis. R¢vigions Io E4ccounting
estimates are reeognised in the period in which the estimate is revised where the revision aff¢ct5 only
thai period, or in the period of the revision and future periods where the revision affects both Current and
fu￿re periods.
Crl¢ic•l Judgementi
F#lr value of Investmtnt propertles
The ¢siim&tes and assumptions which hAve a siBnificant risk of causin8 a ma¢erial adjustment to the
carrying amount of asset$ and liabilities are a8 follows.
Investment propxrties are required to be shown in the financial ststements at fair valuc. The t￿Stee5
ensure that valuations of the charity's invegtmenl properties will b¢ made every three years. The trustees
will review the values of the inveNtmcnt properties shown in the accounts each ye8r and m¥k¢ a
judgement as to whethcr any evidence exists that the fair valu¢s are materially different to the values in
thc financial siatemenls. This may take in io account the stale of the fabri¢ of the building and the
conditions in th¢ mark¢l for the types of property owned.
Investmentb
2025
2024
Rental income
Income from listed invcsttnents
Interest receivable
83240
91.563
9,973
83,848
91,905
3,381
184.776
179,134
17-

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
RAi$ing funds
uar0￿rIc1ed
EftdowmeNt
Total
2025
u￿r•ItTItltd
Total
2024
Trds
dj
$w¢r•l
Cost of
eneratin
investmenl income
Rental expens&s
178,660
178.660
143.275
143.275
tmenl mana
em
17.209
17,209
16,641
16,641
178,660
17,209
195,869
143,275
16,641
159,916
Rento1 expenies
2025
2024
Repairs, maintenance and insuran¢e
Rates and utilities
Law clerk fees
Surveyors and professional fees
Bad debts
Bank charges
40,030
10,415
42.480
72,245
13,405
85
72,556
9,957
21,600
39,102
60
178.660
143.275
Chlrltoble 4ctivitieJ
2025
2024
Depreciation and impaimient
600
600
Grant funding of activities (see note 6)
Share of governan¢¢ costs (see not¢ 7)
110,129
70,044
89,229
49,748
180,773
139,577

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Gr*nts payable
ChArftable Charitable
grant$
gr#nt
2025
2024
Grants to instithtions (39 8rantsl'.
CRESST
TSD Students A¢ademy
Work Ltd
Whirlow Farm Th￿1
Lindley Education¥1 Tn￿1
PACES
Mu$1¢ in the Round
Friends of CSYO
King EdwArd Vll School
DECSY
Hope F,nglish School
Soundposl
Gr¢enlop Community
COSDC Communiry
Mercia Learning Trust
St Marys Church PCC
SF4SD
Steel City Choristers
Community Safety Educaiion
Ethel Trusc
Concertecnies
Forced EntertairLrn¢nt
Seven Hills School
Mirterva Learnin8 Thjst
Astrea Acad¢my
Silverdale School
Blanket Fort Club
Brightsid¢ Nursery
City of Shettield Diving
City of Sheifield WAt¢rpolo
Dame Kelly Holmes
Early Life Enterprise
Equal Communities
Friends of Mossbrook School
Friends of Sioneface Cr¢ations
Harmony Works
Meadowhead School Academy
Pitsmoor Adventure Playground
Scouts South Yorkshire
2.250
2,000
4,5
3.OlX)
3,0
3.OIXI
2,500
3.000
2,838
2,000
3.000
6,480
4.387
2,000
2.880
1.500
1,974
4,000
2,000
1,000
4,000
3,000
2.000
2,200
2,000
2,500
3,000
2,202
7,050
1,852
3,000
5.550
1,175
3,000
2,500
3,000
3,000
3,000
s.￿0
3,￿)0
1,700
1.000
2,000
280
5.000
1,000
19-

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUIYDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Gr71nts payable
(Contlnued)
Sheffield & District Park
St Clare Catholic
Siem Education
Easy Street Theatre
The Linacre Institute
Westwood
2,245
759
1.500
2.000
2.1￿)
84,3
58.622
Grants to individuals (27 Brants)..
25.829
30,607
110,129
89,229
Support e08ts
Support Governxnce
costs
C08ts
2025
Sipport ¢vli
Govtrfiifft¢¢
cosli
2024
lttdependent
ex8minAtion fee5
Legal and professional
Law clerk fees
4,640
124
65,280
4,640
124
65,280
4,8
4,800
68
44,880
68
44,880
70.044
70,044
49,748
49,748
Anulysed between
Charitable activities
70,044
70,044
49,748
49.748
Governance costs includes payments lo the independent examiners of £4.640 (2024.. £4.800) for
independent examinatioTh fees.
Tru$tee$
None of the trustees (or any persons connected with them) Ter¢ived any remuneration or any other
benefits from employment with the charity or any other related entity duTin8 the year and no tnjstee
¢xpen5es hav¢ been incutTcd (2024: £nil).
Employee8
Th￿e were no employees during the year.
-20-

SHEFFIELD GRAMMAR SCHOOL EXHIBIT10Tr4 FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Net galns1(losges) on Investments
Ummiritled
Total
2025
Unre51rf¢ted
Total
2024
fundi
ien¢r*l
8tnerg1
Revaluation of
investments
Gainl(loss) on 5alc of
investments
Gain/(loss) ort sale of
inyestmeni properlies
47,493
45,281
92,774
(33,502)
41.444
7.942
(38,288) (27,827) 166,115)
6.377
28.560
34.937
(10.722) (10,722)
160.000
160,000
9,205
6.732
15.937
{27,125)
230.004
202,879
11 T*x4tlon
The charity is exempt from tsxaiion on its activilies because all its income is applied for charitable
purpo8¢S.
12 lJhtan8lble tlxed a$￿t5
S•tlY4*
Cost
At l April 2024 and 31 March 2025
3.000
Amortl$Atlon and Impalrment
At l April 2024
Amortisalion charged for the y¢ar
800
600
Ai 31 March 2025
1.400
Carrying amount
Ai 31 March 2025
1,600
At 31 March 2024
2.200
21

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Investment property
2025
Falr vAlue
At l April 2024
Disposals
1,125.000
(4o2.sL￿I
At 31 March 2025
722,500
Investment propety comprises retail and residential properties. The fair value of the investment
property has been arrived ot on the basis of a valuation carried oui during August 2019 by Fowler
Sandford Chartered Surveyors, who are not connected with the company. The VV¢lualion was made on
n open market value basis by referen¢e to market ¢vidence of transaction prices for similar properties.
In the opinion of the Inkst¢¢s, the value of the properti¢s at 31 March 2025 does not differ sigrtificantly
from this value.
If investment propertics were stated ort an histori¢&l cost bosis rather than a fair value basis, the amounts
would have been included as follows..
2025
2024
Cost
A¢¢umulated depreciotion
53,813
110,438
Carrying Arnount
53,813
110,438
14 Vixed asyet investmentj
Llyted
Investments
Cost or valuatlon
At l April 2024
Additions
Valuation changes
Disposals
2,238,970
468,898
92,773
(546,110)
At 31 March 2025
2,254,531
Carrylng amount
At 31 March 2025
2,254,531
At 31 March 2024
2,238,970
.22-

SHEFFIELD GRAMMAR SCHOOL EXHIBrrIoN FOUNDATION
NOTES TO THE FINANc￿L STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Flxed a$se¢ Investments
(Continued)
Flxed asset Investments revalued
Investwcnts listed or traded on a recognised stock exchange are me8sured initially at cost and
subsequently at fair valv¢ (their market value). The fair vhlue is based on valuations provided in
investment reports made by the fijnd manager, Rathbones (foTTnally Investec Wealth and Investment
Ltd). who 18 not connected to the cfftwity.
15 Debtor8
2025
2024
Amount$ fAlllng due wlthln one year:
Trade d¢btors
Other debtors
Prepayments ond a¢crued income
18,359
398,618
830
42,582
8,605
695
417,807
51,882
16 Credltors: amounts fAlllng due wlthln one year
2025
2024
Trade creditors
Other creditors
Accruals and dcfeTred income
65,224
I,o¥o
43,357
19.011
980
20,016
109.661
40,(H)7
.23

r4 rt
P4
m v)
SS&u

SHEFFIELD GRAMMAR SCHOOL EXHIBITION FOUNDATIO]Y
NOTES TO THK FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 RelAted party transactions
Therc were no disclosabl¢ rclaled party transactions during the year (2024 - none).
20 C88h generated ffrom operatlons
2025
2024
(Dcficitysurplus for the year
(175.929)
82,520
Adjustments for:
Investment income reco8nised in statement of financial activities
Lossl(gain) on disposal of inv¢stment property
Los81(gain) on disposal of investments
Fair value gains and losses on investsnents
Deprecialion and impaimient of tsn8ibl¢ fixed assets
(184,776)
10,722
66,115
(92,774)
600
(179,1341
(160.0001
(34,937)
(7.942)
600
Movements in worktng capital..
(In¢reaseydecrease in debtors
Increasel(decrease) in crediior$
1365,924)
69.654
6.540
(87,568)
Cxsh i￿Orbed by operA¢lonB
(672.3121
1379,921)
21 An4lysls of change$ In net funds
The charity had no maierial debt durin8 the year.
-25.

FULWOOD EDUCATIONAL ENDOWMENT
STATÉMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDEDJI MARCH 2025
UTrr•itrktEd
Thd
Tat*l
2•25
UTrrulrfjrt¢d Elldowment
fllTrd
Total
1024
Inveltmenti
Oilier iMriD
1,fj02
324
J24
1.0•2
1,0•2
5uthlry¢ApEMq
Gr4n
40
87
2,tKJri
87
Tot•1 rvoDTfV ￿p1Thded
40
40
2087
2.087
Net IoTthe
961
962
Other Th¢47K￿l￿d •Trd IMI
Vnrealkned Inv•iuNii (kiiimllyths
1704)
17011
f4•tin•¥Miieffti Irth l¥nds
962
{1 J751
Fundbg14ll¢41•1 l April 2024
J,670
lfjJ78
19.951
4J3Q
b*l*fi¢oi •t31 Mir¢h 1025
4,638
1fi.706
21,404
3,670
1637R
19.951

FULWOOD EDUCATIONAL ENDOWMENT
BALANCE SHEET
AS AT 31 MARCH 202S
2025
2024
Flxed Assets
[ny¢st￿¢nts
900 Charibond Income Units
2,672 ChaTibond Income Units
Cash
13,665
2,1179
222
13,105
2.951
222
(Hisitsrical cost of investments.. £4,862 (2024.. £4.862))
1&766
16,278
Current assets
Cash at bAnk
Other debtors
4,637
3,526
150
Net c￿rrent 48iets
4,638
3,676
TotAI ametg leii current IIAbUldes
21,404
19.954
CApItAI funds
Ertdowmcnt funds
IA766
16,278
Income funds
Unrestrici¢d funds
4,638
3,676
21,404
19.954
The account8 were approved by the trustees on 22 September 2025.
J M Fettetti - Chaim]An
Trustee
-27-

FULWOOD EDUCATIONAL ENDOWMENT
STATEMENT OF CASH F￿)Ws
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash IIow5 from oper*tlng attlvltl¢J
Surplus for ihe y¢Br
Inve51ment irKome reco￿75￿ in profit OT105S
Fair valu¢ g4in$ 8nd Ilosse51 on invB$lments
1,450
(1.002)
(488)
11,3781
11.0891
704
140)
(1,763}
Investlng •¢tlvhl¢•
Inter¢81 received
I,￿)2
1.089
Net lnere•5tI(deer￿1¢l In and ¢ash equlvalethts
962
16741
CaBh and ¢a8h ¢quivalenls llt be8innin8 ofyear
3.676
4,350
CAsh And ¢uh equlv*ltntg at ¢nd of yeir
4,638
3.676
-28-

FULWOOD EDUCATIONAL ENDOWMENT
NOTES TO THE ACCOUP4TS
FOR THE YEAR Ef4DED31 MARCH 2025
Ae¢owbtEnE poll¢bes
1.1 CornpAny InfDrm*tlon
Fulwood Education81 Endownxnl is acharily Ichzriiy nvmbv 5293501. The principal &ddrtt8 is ¢10 Wrigleys
Solicitor$ LLP, DerwenE Hous¢. 150 ANndel Gate, Sheffield. South Yorkshire. Sl 2FN. Thc Educational
EndowTreni is unineorporaied hnd governed by a schem¢ of the Chèrity Comrnissioner&
1.1 B4811 of prep&rHtlon
The &C￿uniS hrt￿ been preportsl in Y¢ordanc¢ with the ch*rity$ Scheme of th2 Chority Coinmissioneri. th¢
Ch&riiit8 2011 and Accounting and Rcporting by Charities.. Siulemtnt of Rccoinincnd¢d Pra¢iice
pplicable lo charities preplring ih¢ir a¢couni$ in a¢tOTdonc¢ with ihe Financial Reporting St8ndBrd &ppl¢cabl
in th¢ UK Republic of IrelBnd IFRS 1021" leffe¢iive l January 20191. Th¢ charity is a Public B¢nefii
Entity E¥ ¢J¢fJn¢d by FRS 102.
The Accoun18 hiv¢ b￿n pr¢pared under the historical ¢ost conveniion modified 10 includ¢ lh¢ r¢valuaiion of
c¢rtllin fixed assets.
1.2 Golfti ¢on¢efn
Al the lime ofapproveiny lh¢ flnin¢iBI silliemenls. the tnL8t¢¢s hAve • ￿4￿nable cxpectalion th#1 the
charity has ddequak ￿sOUrCeS io continue in op¢r81ional ¢xi51ence for the forsee&ble future. Thus Ihe
Irusi¢es G4n continue 10 adopl the Roing conc¢rn basis of occouniin8 in pre￿￿￿¥ the financi&l
IJ In¢0￿1￿￿ reiourcei
In¢oinin8 resourcesfyre aecount￿ foroll an IccNols b￿11.
1.4 Qxpended
Rwuttes expended are included on an Accrn&l8 ￿$11 ind Art r¢￿SnI￿d Whe￿ theye is i legBI orconytrwtive
obli8Qlion lo pay for ¢xpèndiiur¢. All co8ts htsve b¢¢n dircctly amribuied to one of the aciivity caie8orie5 of
resour¢e$ ¢xpended in the SOFA.
GrgnLS paylble &re B¢¢ounied for wh¢n the aW￿d trtomes un£ondili¢)Nl.
IJ Inv￿tMent1
Fixth AS8et invcytments are ?tsted at market vAlue. ORinB and 105ses Bri8in8 on di$p0541y and ￿ValuatIOnS 10
market value are Bhown as nK)vem¢ni8 in the Siatemcrtl of Fin8wial Attiviiie8 and rEflected in the rele¥8nt
rtds in the balonee 8htei.
1.6 Ac¢llmulwted fund¥
The endowment fund Tepresents those 85s¢ts which musi be held ￿m￿nen11Y by the charity. Income arising on
the endoWj￿nI fvnd Can be used in accordance wilh ihe objects of ihe charity Bnd is included as unresirict¢d
income.
Unr¢5ty¢*d fvnd& ¢ompri5¢ those funds which the tnjslcey ar¢ fr¢c to Use in atcordance with the ch4riiable
objectives.
GrAnts pay4ble
Grants were made forihe benefitofO12024.. 11 in¢JiVidu￿5 in a¢cordaJKe with the objerfs of IhB ch&rity.
-29-

SHEFFIELD GRAMMAR SCHOOL EDUCATIONAL FOUNDATION
REf4TS RECEIVED
FOR THE YEAR ENDED 31 MARCH 2025
Bad debt
off5
Arrur& at
31 Mrlrch
2024
31 Mirch
1•25
Rentdue
elyed
bAckil
PropErty
Z02 Holm¢ It¢DanttyJl
208 Holmc Lon¢lvb¢anL)
210 Holme LAnelYHcpDI}
220- 222 Holme LAn¢ Ii¢Mnknll
224 Holmo LAnÈiienoni¢dl
226- 228 Holmc Lane Iicnbntèll
234- 236 FldTD¢ tan¢ ItenBnkdl
238- 240 Hdm¢ tAne IicnBnitdl
242 HdTnc Lant Itenaniedl
& 2 Loxley
240ts
24,625
3,148
8,771
SJ79
&2118
9,838
4,254
6,003
15.8
1,8fK)
12,430
1063
4I90
16,029
710
4,825
11,0901
7.60S
27,396
01.9Z9
74.770
14,557
Flui D￿ve 2 Loxley RoBd
F￿1 4 Loxley RoBd
Fbi 6 Loxlry Roud
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