Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
Company Number: 00956415
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED
A company limited by guarantee and a registered charity no. 529629
ANNUAL REPORT AND FINANCIAL STATEMENTS
for the year ended
31 August 2024
UNAUDITED
HPH Chartered Accountants 54 Bootham YORK YO30 7XZ
Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| CONTENTS | Page |
|---|---|
| Trustees’ and Directors’ Annual Report | 1 to 5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statement | 9 to 14 |
Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The Directors (who are also the Trustees of the charity and whose details are shown in the reference and administrative section of this report) are pleased to present their Annual Report together with the Financial Statements of St Martin’s School (Nawton) Trust Limited (the “Trust”) for the year ended 31 August 2024.
The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trust is a Public Benefit Entity.
OBJECTIVES AND ACTIVITIES
The general objective of the Trust is the advancement and promotion of education. The directors and trustees can use any means they deem appropriate to achieve the objective.
The main methods specified as stipulated in the Memorandum and Articles of Association include those set out below. However, these are not restrictive with the overarching objective being the advancement and promotion of education.
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a) To offer scholarships, exhibitions, prizes and rewards to make grants and allowances to students or prospective students at any school.
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b) To offer scholarships and exhibitions and to make grants and allowances to any student or past student of any school for the purpose of proceeding to any University or other educational establishment.
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c) To make grants and allowances to any person engaged in the teaching profession for the purpose of training at any University or other educational establishment or attending any other training course whatsoever.
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d) To offer grants and allowances to any school for any educational purpose of that school.
We believe that our main activities further our charitable purposes for the public benefit.
As Trustees we believe that we have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW
The Trust's investment portfolio generated income of £38,611 in the year (2023 - £35,882). Interest on cash held within the portfolio was £755 for the year (2023 - £477). The portfolio valuation at the year end, including cash, was £1,573,939 compared with £1,501,673 in the previous year. A total of £13,927 (2023 - £14,368) was deducted from the portfolio for the investment manager's fees.
During the year grants of £90,072 were made (2023 - £32,650). The level of grants and other charitable expenditure meant that the Trust had net losses in the year amounting to £68,446 (2023 - £14,373) excluding gains and losses on investments.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
GRANT MAKING POLICY
The Trust invites applications from qualifying individuals and institutions for grants. All applications are reviewed by the Board and a decision on whether to award a grant is made by the Board as a whole. The Board can also award grants for qualifying activities at its own discretion.
INVESTMENT POLICY
The directors' and trustees' investment powers are governed by the Memorandum and Articles of Association. The directors and trustees follow an ethical investment policy, in line with the policies of the Catholic religion. The investment objective is to optimise capital growth and income on a long term, medium risk basis. The management of the investment portfolio has been placed with Investec Wealth and Investment Limited who have the authority to purchase and sell shares without the prior consent of the directors and trustees. The portfolio performance during the year achieved a return of 2.5% (2023 – 2.4%).
RESERVES POLICY
At 31 August 2024 the Trust had unrestricted reserves of £1,578,259 (2023 - £1,501,122). The Trust intends to try and maintain a core fund of £1,000,000 to generate income to enable it to achieve its objectives. The reserves are to be invested and the income used for the achievement of the Trust's objectives.
PLANS FOR THE FUTURE
The Board continues to look for grants that it can make for educational purposes in line with the overall objectives of the Trust with prospective beneficiaries being brought to the Board for consideration by its members or those associated with it.
RISK MANAGEMENT
The Board have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
REFERENCE AND ADMINISTRATION INFORMATION
Directors and Trustees: Mr G Wood (Chairman) Ms L M Harrison Mr M T Hird Mr P B R Houghton Mr F S Newitt (resigned 24 October 2024) Mr H P Swarbrick Mr M P Thorpe Mr S A Robertson Mrs A M Armitage Mr N R Willsher Principal Address: 1 St Saviourgate YORK YO1 8ZQ Registered Name: St Martin’s School (Nawton) Trust Limited Company Number: 00956415 (England & Wales) Charity Number: 529629 (England & Wales) Bankers: Barclays Bank plc 1, 2 & 3 Parliament Street YORK, YO1 8SE Solicitors and Harrowells Limited Registered Office: 1 St Saviourgate YORK, YO1 8ZQ Independent Examiner: Sarah Wearing, FCA, DChA HPH, Chartered Accountants 54 Bootham YORK, YO30 7XZ Investment Advisers: Investec Wealth and Investment Limited 2 Gresham Street LONDON EC2V 7QP
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
STRUCTURE, GOVERNANCE AND MANAGEMENT
St Martin's School (Nawton) Trust Limited is a Charitable Trust (the "Trust") and is registered as a company limited by guarantee and not having a share capital. The Trust's governing document is its Memorandum and Articles of Association dated 18 June 1969 as amended by special resolutions dated 17 December 2002 and 17 February 2016.
Charity status was received on 13 November 1969 and the charity number is 529629. The company number is 00956415.
The Trust is managed on a day to day basis by the Board of Directors and Trustees. All decisions are made by the Board of Directors and Trustees.
The directors and trustees are appointed by the Board of Directors and Trustees with no fixed term of service. The Memorandum and Articles of Association provides for a minimum of 7 directors and trustees, to a maximum of 30 directors and trustees.
At the annual directors' and trustees' meeting, the directors and trustees agree the strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance.
The Board keeps the skill requirements for the governing body under review in the event that a director and trustee retires or additional new directors and trustees are required. New directors and trustees may be sought by open advertisement or through direct approach to suitable individuals. The induction process for any newly appointed director and trustee comprises of a meeting with the Chair covering the investment policy, the grant making process and the powers and responsibilities of the director and trustee board.
STATEMENT OF TRUSTEES’ AND DIRECTORS’ RESPONSIBILITIES
The purpose of this statement is to distinguish the trustees' and directors' responsibility for the financial statements from those of the independent examiner as stated in her report.
Company and charity law require the trustees and directors respectively to prepare financial statements for each financial year which give a true and fair view of the charitable company's state of affairs at the end of the year and of its financial activities for that period. In preparing those financial statements the trustees and directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement;
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.
The trustees and directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and applicable charity law. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
EXEMPTION
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
By Order of the Board
Mr G Wood Chairman
9 April 2025
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2024.
This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Wearing, FCA, DChA HPH, Chartered Accountants 54 Bootham YORK YO30 7XZ
9 April 2025
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024
| Notes Income and endowments from: Investment income 2 Total income Expenditure on: Raising funds: investment management costs Charitable activities: 3 Total expenditure Net expenditure for the year before gains and losses on investments Net gains/(losses) on investments 6 NET INCOME/(EXPENDITURE) AND NET MOVEMENT IN FUNDS Reconciliation of funds: Balances brought forward Balances carried forward |
Unrestricted Funds 2024 2023 £ £ 38,611 35,882 38,611 35,882 13,927 14,368 93,130 35,887 107,057 50,255 (68,446) (14,373) 145,583 (18,768) 77,137 (33,141) 1,501,122 1,534,263 1,578,259 £ 1,501,122 £ |
Unrestricted Funds 2024 2023 £ £ 38,611 35,882 38,611 35,882 13,927 14,368 93,130 35,887 107,057 50,255 (68,446) (14,373) 145,583 (18,768) 77,137 (33,141) 1,501,122 1,534,263 1,578,259 £ 1,501,122 £ |
|---|---|---|
| 35,882 | ||
| 14,368 35,887 |
||
| 50,255 | ||
| (14,373) (18,768) |
||
| (33,141) 1,534,263 |
||
| 1,501,122 £ |
All operations are continuing.
The notes on pages 9 to 14 form part of these financial statements
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED BALANCE SHEET AS AT 31 AUGUST 2024
Company Number: 00956415
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets: | |||
| Investments | 6 | 1,573,939 | 1,501,673 |
| Total fixed assets | 1,573,939 | 1,501,673 | |
| Current Assets: | |||
| Cash at bank and in hand | Cash at bank and in hand | 6,673 | 1,682 |
| Total current assets | 6,673 | 1,682 | |
| Liabilities: | |||
| Creditors: amounts falling due | |||
| within one year | 7 | (2,353) | (2,233) |
| Net current assets/(liabilities) | 4,320 | (551) | |
| Total assets less current | |||
| liabilities | 1,578,259 | 1,501,122 | |
| Total net assets | £ 1,578,259 | £ 1,501,122 | |
| The funds of the charity: | |||
| Unrestricted funds | - General fund | 737,417 | 779,409 |
| - Revaluation fund | 840,842 | 721,713 | |
| Total charity funds | 10 | £ 1,578,259 | £ 1,501,122 |
In the directors' and trustees' opinion the charitable company was entitled under section 477 of the Companies Act 2006 ('the Act') to exemption from the audit of its financial statements for the year ended 31 August 2024. No notice from members requiring an audit has been deposited under section 476 of the Act in relation to its financial statements for the financial period. The directors and trustees are responsible for ensuring that the charitable company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial period and of its income and expenditure for each period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with its requirements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime under the Companies Act 2006.
The notes on pages 9 to 14 form part of these financial statements
Approved by the Board on 9 April 2025 and signed on its behalf by:
Mr G Wood Director and Trustee
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of Preparation and Company Information
The Accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
St Martin’s School (Nawton) Trust Limited is a charitable company, limited by guarantee, incorporated in England and Wales. The registered office is 1 St Saviourgate, YORK, YO1 8ZQ.
St Martin’s School (Nawton) Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
b) Preparation of the accounts on a Going Concern Basis
The charitable company has cash resources and has no requirement for external funding. The trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe that the going concern basis of accounting is appropriate in preparing the annual financial statements.
c) Funds Structure
The charitable company only has unrestricted funds, an unrestricted general fund and a revaluation fund, comprising those funds which the trustees and directors are free to use for any purpose in furtherance of the charitable objects.
d) Income Recognition
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the bank/institution. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES - continued
e) Expenditure Recognition and Irrecoverable VAT
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the charitable company. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charitable company.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
Governance costs comprise all costs involving the public accountability of the charitable company and its compliance with regulation and good practice. These costs include costs related to statutory independent examination and legal fees together with an apportionment of overhead and support costs.
All expenditure is accounted for on an accruals basis and includes the irrecoverable element of Value Added Tax.
f) Cost of Raising Funds
The costs of raising funds consist of investment management costs and certain legal fees.
g) Charitable Activities
Costs of charitable activities include grants made, governance costs and support costs.
h) Fixed Asset Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Trust does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN’S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES - continued
i) Realised/Unrealised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
j) Debtors
Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
l) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
m) Financial Instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
| 2. Interest on cash held as part of investment portfolio Listed investments income 3. CHARITABLE ACTIVITIES Grants awarded Bank interest and charges Governance costs - note 4 INVESTMENT INCOME |
2024 2023 £ £ 755 477 37,856 35,405 £ 38,611 £ 35,882 90,072 32,650 103 103 2,955 3,134 £ 93,130 £ 35,887 Unrestricted Funds |
2024 2023 £ £ 755 477 37,856 35,405 £ 38,611 £ 35,882 90,072 32,650 103 103 2,955 3,134 £ 93,130 £ 35,887 Unrestricted Funds |
|---|---|---|
| £ 35,882 | ||
| 32,650 103 3,134 |
||
| £ 35,887 |
The Trust awarded grants to: Kirkham Henry Performing Arts £3,500 (2023 - £2,400) to fund classes for children, The Junction Foundation £8,572 (2023 - £8,500), Bacx up North West £10,000 (2023 - £Nil), Kumi Community Foundation £10,000 (2023 - £Nil), Ryedale Special Families £50,000 (2023 - £Nil), RDA Teesside Group £2,000 (2023 - £Nil), IMAS (Mixed Ability Sports) £2,000 (2023 - £Nil) for the costs of a book for children in connection with their education and development, and The Rotary Club of Cleveland £4,000 (2023 - £Nil).
4. GOVERNANCE COSTS
Governance costs included in the cost of charitable activities is made up as follows:
| Independent examiner's remuneration Accountancy services - statutory accounts production Legal & professional Meeting expenses Other expenditure |
2024 £ 1,200 1,200 - 555 - £ 2,955 |
2023 £ 1,140 1,140 240 574 40 |
|---|---|---|
| £ 3,134 |
5. DIRECTORS' AND TRUSTEES' EMOLUMENTS AND BENEFITS, RELATED PARTY TRANSACTIONS
The directors and trustees have received no emoluments, expenses or benefits during the year.
The key management personnel of the charitable company consists of the trustees only. There were no related party transactions during the year.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
6. FIXED ASSET INVESTMENTS
| Listed Investments UK Equities and Funds UK Fixed Interest Overseas Equities and Funds Overseas Fixed Interest Emerging Economies UK Property Alternative Assets Cash on Deposit |
Market Value 01/09/2023 £ 403,204 183,661 457,780 188,616 24,124 57,590 170,765 |
Additions at Cost £ 20,345 22,834 279,575 130 36,443 - - |
Disposals (245,703) (21,318) (142,766) (11,949) (11,627) - - |
Revaluation £ 18,716 11,902 58,505 2,961 2,612 11,518 12,915 |
Market Value 31/08/2024 £ 196,562 197,079 653,094 179,758 51,552 69,108 183,680 |
|---|---|---|---|---|---|
| 1,485,740 15,933 |
359,327 497,009 |
(433,363) (469,836) |
119,129 - |
1,530,833 43,106 |
|
| £ 1,501,673 | £ 856,336 | £ (903,199) | £ 119,129 | £ 1,573,939 |
Realised gains on investment disposals amounted to £26,454 (2023 - £1,537)
The historic cost of the listed investments at the balance sheet date was £1,270,388 (2023 - £1,260,948).
7. CREDITORS
Accruals
| Unrestricted | Funds |
|---|---|
| 2024 | 2023 |
| £ 2,353 | £ 2,233 |
8. COMPANY STATUS
The Company is a Charitable Trust registered under the Companies Act 2006 as a company limited by guarantee and not having a share capital. The liability of the members who are the trustees is limited to such amounts as may be required not exceeding £1 each.
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Docusign Envelope ID: 59ECBDC5-9654-4BF3-BE4E-44EB96B0A90F
ST MARTIN'S SCHOOL (NAWTON) TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Current year Tangible Fixed Assets Current Assets Current Liabilities At 31 August 2024 Comparative year Tangible Fixed Assets Current Assets Current Liabilities At 31 August 2023 |
General Revaluation Fund Reserve £ £ 733,097 840,842 6,673 - (2,353) - £ 737,417 £ 840,842 General Revaluation Fund Reserve £ £ 779,960 721,713 1,682 - (2,233) - £ 779,409 £ 721,713 Unrestricted Funds Unrestricted Funds |
Total Funds £ 1,573,939 6,673 (2,353) |
|---|---|---|
| £ 1,578,259 | ||
| Total Funds £ 1,501,673 1,682 (2,233) |
||
| £ 1,501,122 |
10. FUNDS
| Current year Unrestricted Funds General Fund Revaluation Fund Total Funds Comparative year Unrestricted Funds General Fund Revaluation Fund Total Funds |
Balance at 01/09/2023 £ 779,409 721,713 £ 1,501,122 Balance at 01/09/2022 £ 792,245 742,018 £ 1,534,263 |
Income £ 38,611 - £ 38,611 Income £ 35,882 - £ 35,882 |
Expenditure £ (107,057) - £ (107,057) Expenditure £ (50,255) - £ (50,255) |
Transfers/ Gains/(Losses) £ 26,454 119,129 £ 145,583 Transfers/ Gains/(Losses) £ 1,537 (20,305) £ (18,768) |
Balance at 31/08/2024 £ 737,417 840,842 |
|---|---|---|---|---|---|
| £ 1,578,259 | |||||
| Balance at 31/08/2023 £ 779,409 721,713 |
|||||
| £ 1,501,122 |
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