Charity number: 529467 THE BOYLE & PETYf FOUNDATION UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2024 ARTHUR E WALKER & CO 6 WATER STREET SKIPTON BD23 IP8
THE BOYLE & PEnT FOUNDAnON CONTENTS Page Reference and administrative details of the charity. its Trustees and advisers Trustees, report Independent examinerfs report Statement of financial activitie5 Balance sheet Notes to the financial statements 10-14
THE BOYLE & PEfff FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr B D Heyes, Chairman The Duchess of Devonshire DL Mrs J Hollings (resigned 17 May 20231 Mr M Hartley MrsAKaye Mr R Shelton Mrs O Swiffen Dr L Molyneux Mr S Johnson Mr5 L Hartley Admlnistrator Mrs C Oowns Charity registered number 529467 Principal office The Boyle & Petyt Primary School, Beamsleyi Skipton, North Yorkshire, BD23 6HE Accountants Arthur E Walker & Co, 6 Water Street. Skipton, BD23 IPB Bankers HSBC, 61 High Street. Skipton, North Yorkshire, BD23 IDW Sollcltors Mewies. Keighley Road, Skipton, North Yorkshire, BD23 2NB Investment Advlsers Ellis Bates Financial Solutions Limited, Adam House. Ripon Way, Harrogate, North Yorkshire, HGI 2AU Page I
THE BOYLE & PETYT FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 fdARCH 2024 The Trustees present thelr annual report together with the financial statement5 of The Boyle and Petyt Foundation (the charity) for the year ended 31 March 2024. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory reqijirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice ISORP FR51021 "Accounting and Reporting by Charities" effective 2019. FINANCIAL REVIEW, ACHIEVEMENTS AND PERFORMANCE The result5 for the year and the charity's financial position at the end of the year are shown in the attached financial statements. Fundlng received is also detailed in the notes to the financial statements. The charity plans to contlnue operating in the same manner for the coming year bv applying its funds to the objectives set. The majority of income received durlng the year was rental income and grant income. The major expenditure during the year related to the energy saving project (windows and insulation). root cutting in the Sewage system and School House repairs. Documents relating to the Foundation are held by the Secretary/Treasurer, Mrs C Downs, at her home, at the Estate Office, Bolton Abbey and also on the school premises. The Trustees work closely with the Managing Trustees and Local Education Authority to ensure the premises are suitable for primary school education purposes and maintained to a satisfactory standard. AcfiviTIES FOR ACHIEVING OBJECTIVES To maintain the school premises, including the school house and playEround in good condition for educational purposes as a Voluntary Aided School for primary school age children from the surrounding parishes and townships, namety Addingham, Barden, Beamsley, Bolton Abbey, Draughton, Embsay with Eastby, Hazlewood with Storiths and Nesfield with Langbar, but other areas are not ruled out if so approved by the Trustees. The principal activities of the organisation are to manage the funds of the Foundation and apply the net income as they see fit for the following purpose5= al Insuran of the premises. bl improvement of the school buildings. cl assistance with pupils attending school, including travelling expenses and maintenance allowances providing they are resident in the above-mentioned parishes. Pa8e 2
THE BOYLE & PEfYT FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED ai MARCH 20Z4 (¢ontinued} dl assisting in the health and physical condition of children attending the school. el in maintaining and improving the school library. fl for improving social and physical training15ubject to maximum payments as laid down in the Con5titutionl. The Trustees have had regard to the guidance issued by the Charity Commisslon on public benefrt. The activities described above are indicative of this. INVESTMENT POLICY AND PERFORMANCE The Trustees follow the investment policy prescribed by the governing documents of 1887 and 1923. The Trustees seek to preserve the value of the investment portfolio and through prudent and cautious management, generate a modest surplus of income over expenditure each year to provide funds for a programme of continLlOUS refurbishment and improvement of school property- The Foundation's investments are overseen by a designated Trustee IR Shelton) with additional financial advice sought and provided by Ellis Bates Financial Solutions. The performance of the investment5 are reviewed 3 times a year at full meetin8s of the Trustees. RESERVES POLICY The Foundatlon is required to preserve its endowment, so as to ensure that monies are available to meet any reasonable unforeseen emergency. The Trustees may also increase the endowment periodically. by fundraising to achieve the Foundation's objectives, for example the construction of the pre-school building in 2015116. The unrestricted fund5 include endowment funds. A healthy balance of £63,430 remains as at 31 March 2024. Strurtureth governance and management REFERENCE AND ADMINISTRATIVE DETAILS Reference and administrative details are shown in the details of Trustees and professional adviser5. All the Trustees served the charity throughout the year. GOVERNING DOCUMENT The or8anisation was ori8inally constituted by endowment5 from Boyle's School and Petyt's Ch3rity dated 28 November 1887. Page 3
THE BOYLE & PETYT FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued) POLICIES ADOPTED FOR THE INDucfioN AND TRAINING OF TRUSTEES All Trustees are given an appropriate induction to the Foundation to enable them to understand their responsibilities as a governor as well as the Foundation's charitable purposes, financial position and current issue5. To this end new Trustee5 are offered a tour of the school and given a copy of: Governing documents dated 28, November 1887 and 3rd July 1923 Minutes from the previous meeting Latest accounts Charity Commission The Essential Trustee ICC31 Charity Commission Hallmark of an effective charity ICCIOI Charity Good Governance Guide Conflict of Interest Policy Privacy Policy for Governors GDPR Information Security Incidents Reporting Policy They a then required to sign and return.. Charity Commission Trustee Oeclar3tion IV81 Register of Interest Ito be updated as appropriate and annually) The Boyle and Petyt Foundatioll Declaration of Office RISK MANAGEMENT The risks to the charity are security of income and the uncertain costs of the service they wish to provi(le. Income is secured by investment income which is monitored by Ellis Bates Financial SolLrtions Limited, Harrogate, who are consulted regularly for advice. The main source of investment income is the rental of the school house. Grant Income from DFES is not guaranteed at a certain level which causes uncertainty for the charity. TRUSTEES The Trustee5 who seNed the charity during the year and up to the date of signature are shown in the attached financial statements. The Trustees are made up of people nominated by the following bodies.. 2 representatives from the Parish Council- Mr5 A Kaye and Mrs J Hollin8s (resigned 17 May 20231- 1 vacancy. 2 representatives from the Lord of the Manor- Mr B D Heyes and Mr M Hartley 3 co-optative representatives-The Duchess of Devonshire DL, Mr R Shelton and Mrs L Hartley I representative from the Local Education Authority- Dr L Molyneux I representative from Ermysteds Grammar School- Mrs O Swiffen I representative from North Yorkshire Bench- Mr S John50n Page 4
THE BOYLE & PMT FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 {contlnuedl TRUSTEES, RESPONSIBILITIES sfATEMENT The Trustees are responsible for preparing the Tru5tees' report and the financial statements in accordance with applicable law and United Kingdom Actounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming sourceS and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistenily; obSee the methods and principles in the Charities SORP,. make judgement and accounting estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved bythe Trusteeson &. 11. 2 and signed on their behalf by: Signed B D Heyes Chair Page 5
THE BOYLE & PEfff FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOYLE & PETYT FOUNDATION I report on the financial statements of the charity for the year ended 31 March 2024 which are set out on pages 8 to 14. The report is made solely to the charivs Trustee5, as a body, in accordance wrth section 145 of the Charities Act 20118n(I regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fijllest extent permitted by law. I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. RESPEcfivE RESPONS181LifES OF TRUSTEES AND EXAMINER The charity's Trustees are re5pon5ible fur the preparation of the financial statements, and they on5ider that an audit is not reouired for this year under section 144121 of the Charities Art 2011 (the Actl and that an independent examination is needed. It 15 my responsibility to-. Examine the finoncial statements under section 145 of the Act. Follow the procedures laid down in the general Dirertion5 given by the Charity Commission under section 14515llbl of the Act; and state whether particijlar matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with the general Directions given by the Charity Commission. An examlnation includes a review of the accounting records kept by the charity and comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financlal statements. and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required In an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view, and the report is limited to those matters set out in the Statement below.. Page 6
THE BOYLE & PETrr FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH Z024 (Continued) INDEPENDENT EXAMINER'S STATEMENT In conneclion with an examination, no matter has come to my attention= 111 which gives me reasonable cause to believe that in any material respect the reqU1mentS.. to keep accounting record5 in accordance with sectlon 130 of the Act,. and to prepare financial statements which accord with the accounting records and omply with the accounting requirements of the Act have not been met- or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the finantial statements to be aChed. Signed Dated ........ Andrew Walker Bsc FCCA Arthur E Walker & Co Accountant5 6 Water Street Skipton BD23 IPB Page 7
THE BOYLE & PEfff FOUNDATION STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 INCOME FROM: Donations. legacies and Grants Investments Other Income- Solar 12,468 12,468 11.940 620 2,670 11,893 568 11,94K) 620 12,560 12,468 25,028 15,131 EXPENDITURÉ ON., Charitable activities and support costs TOTAL EXPENDITURE 8,117 8,117 12,468 12,468 20,585 20,585 9,125 9,125 NET INCOMEI{EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES ILossesl/gains on revalL¢ation of investment Gain on disposal of investments NET MOVEMENT IN FUNDS 4,443 4.443 6,IJ06 1,7Tr) 1,7(K) 11,5551 6,143 6,143 4,451 RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 57,287 63,430 10,000 10,0 67.287 74,430 62.836 67,287 The notes on pages 10 to 14 form part of these finantial statements Page 8
THE BOYLE & PETYf FOUNDATION BALANCE SHEET AT 31 MARCH 2024 Notes 2024 2023 FIXED ASSETS Investments 22,449 20.749 CURRENT ASSETS Prepayments Cash at bank and in hand 70,456 74,016 CREDITORS: amounts falling due within one year NET CURRENT ASSETS 119,4751 127,4781 50,981 73,430 46,538 67,287 NET ASSETS CHARITY FUNDS Restricted fund5 Unrestricted funds TOTAL FUNDS iO,OCM) 63,430 73,430 10.000 57,287 67.287 The financial statements have been prepared In accordance with the provisions applicable to small entities within the Charities Act 2011, and in accordance with the Financial Reporting Standard FRS 102 effective January 2019. The financial statement5 were approved by the Trustees on on their behalf, bv: 6. 11.2* and signed B D Heye$ The notes on pages 10 to 14 form part of these financial statements. Pase 9
THE BOYLE & PETYt FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024 l. Accounting Pollcles 1.1 Basts of preparatlon and assessment of 8oing concern The financial statements have been prepared urbder the historical cost convention with Items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements are prepared in sterling, which 15 the functional currency of the charlty, Monetary amounts in these financial statements are rounded to the nearest £. The Trustees consider that there are no material uncertainties about the Foundation's ability to continue as a Eoing concern. 1.2 Fund accountlnE General funds are unrestricted funds which are available for the use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with 5pecrfic restrictions imposed by donors of which have been raised by the charity for particular purposes. The c05t5 Of raising and administerin8 such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 1.3 Incoming resources IncominB resources are Included in the Statement of financial Activities when the charity has entitlement to the funds. certainty of receipt and the amount can be measured with sufficient reliability. Page 10
THE BOYLE & PEféT FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024 {cont5nuedl Income from interest royalties and dividends is included in the accounts when receipt is probable and the amount can be measured reliably. The charity has received government grants in the reporting period. Gifts in kind donatlon for distribution are included at valuation and recognised a5 income when they are distrlbuted to the projects. Gifts donated for resale are included as income when they are sold. t)onated facilities are included at the value to the charity where this can be quantified and a thSrd party is bearing the cost. The value of any voluntary help received is not included in the accounts but is described in the Trustees. annual report. 1.4 Expenditure Expenditure is accounted for on an accruals basis and has been included under expense categories that ag8re8ate all costs for allocation to activities. Where costs cannot be direttly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Governance c05t5 are those incurred in cor)nection with the administration of the charity and compliance with constitutional and statutory requirements. No Trustee expenses have been incurred in the year. 1.5 Investments Fixed a55et investments in quoted shares. traded bonds and similar investments are valued at initially at cost and subsequently at fair value Itheir market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be meas¥Jred reliably in which case it is measured at cost le55 impairment. The statement of financial activities includes any realised or unrealised gains or losses on the sale of investments and any gain or1055 resulting from revaluing investments to fair value at the end of the year. 1.6 Llabllity recognition Liabilities are recognised a5 soon as there is a legal or constructive obligation commlttlng the charity to the expenditure. 1.7 Related party transactions There were no related party transactions that require distlosure. Page 11
THE BOYLE & PETIT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2. INCOME FROM DONATIONS, LEGACIES AND GRANTS Unrestricted Re5trfrted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Donations Grants Total donations and legacies In 2023 all income was attributed to restricted funds. 12,468 12,468 12,468 12,468 2,670 2,670 3. INVESTMENT INCOME Unrestricled Restrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Rental income 11,940 11,940 In 2023 all the investment income was attributed to unrestricted funds. 11.940 11,940 11,893 11,893 4. EXPENDITURE BY CHARITABLE ACTIVITY SUMMARY BY FUND TYPE Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Charitable activities 5,345 12,468 17,813 6,779 In 2023 the charity incurred expenditure of £2,670 against restricted funds and £4,109 unrestricted funds. SUMMARY OF EXPENDITURE TYPE Totsl 2024 Total 2023 Building costs Other charitable costs Total 16,157 1,656 17,813 4,168 2,611 6.779 Page 12
THE BOYLE & PETYT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 S. SUPPORT COSTS Basis of Allocation Activitie5 Total 2024 Total 2023 Accountanry fees 1,022 1,022 846 Secretarial expenses 1.750 1,750 1,500 Total 2,772 2,772 2,346 During the year ended 31 March 2023, the charity incurred unrestricted expenditure of £2.346. Governance Governance Mr5 C Downs, secretary and treasurer, was paid £1,75012023 - £1.5001 during the year for secretarial expenses. 6. STAFF COSTS The charity has no employees Other than the Trustees, who did not receive any remuneration12023 - £NILI No employee received remuneration amountin8 to more than £60,000 in either year. 7. FIXED ASSET INVESTMENTS Listed securities Market value At l April 2023 Disposals at carrying value ILossllGain on revaluation At 31 March 2024 20.749 1,700 22,449 Investment at market value comprise: 2024 2023 Listed investments 22.449 20,749 All the fixed asset investments are held in the UK Page 13
THE BOYLE & PETYf FOUNDATION NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 8. CREDITORS: Amounts falllng due within one year 2024 2023 Other creditors Deferred grant income 890 1.596 25,882 27.478 18,585 19,475 9. ANALYSIS OF NET ASSEfs BEnNEEN FUNDS Unrestrlcted Re5trlrted funds funds 2024 2024 Total funds 2024 Total funds 2023 Fixed assets investments Current a55ets Creditors due within one year 22,449 41,871 18901 63,430 22,449 70,456 119,4751 73,430 20,749 74,016 127,4781 67,287 28,585 18,5851 10,000 10. TAXATION The Foundatloll 15 a registered charity and does not trade for tax purposes. It is not liable to corporation tax on its surplus. 11. MOVEMENT IN RESTRicfED FUNDS 2024 2023 Balance brought forward Income 10,000 10,000 12,468 2,670 112,4681 12,6701 Expenditure Transfers between funds 10,000 10,0 12. FIXEDASSETS The balance sheet of the charity does not include any of the buildings and land as fixed assets. Thi5 15 in contravention of Accountin8 and Reporting by Charities- Statement of Recommended Practice ISORP FRS1021. The Trustees leel that it is irrelevant for as long as the slte continues to be used as a primary school. Page 14