Colftraine Grammar School Pag• 1 Legal and administratlve inforniatlon H•admastor Dr.J. Carnjlhers Chalrporson of th• Board of Gov•mors Mr W Ollver Board of Oov•rnorn Mrs A Curry Mfs H Hamillon Dr J Kerr Mr A Linnegan Mr H Montgomery Mr G Montgomery Mr F Mullan Mr W Oliver Rev Dr l Thompson Mrs C Ferguson Mr G Hutchinson Mr R Archibald Mr R Cochrane Mr J Gibson Mrs K Gilpin Mr N Llnn8gan Mrs J Ste￿rt Ms J Rlchmond Mrs L M¢Lean Mr A Pepin Mrs L Somerrfllle Or O Murdock Mr G McGaughey MAKerr SKr•tary Mr A Llnnegan Charlty numb•r 103870 Cornp￿ numbor N1628384 R•gI81•r￿ offlc• 23-33 Ca3tlerock Road Coleraine Co. Londonderry, BT513LA Audttor GMCG Belfast Chartered Accour)tants and Stslutory Audltor Alfred House. 19 Alfred Street 8elfast, BT2 8EQ Bankern Danske 8ank North 8uslness Centre Ballymena Co. Anlrlm, BT43 7AA Page 2 Coleraine Grammar School Governors, report (Includlng Dlrectors, Report and Strategic Report) Yearended 31 March 2024 The Governors present thelr report and Ilnanclal siatemènts for Ihe year and8d 31 March 2024. The financial slatemenls have been prepared In aCc￿dance wlth the accounti￿ policies Sel oul In noies to the flnanclal slalements gnd applicable accounting standards. Accounting and Reportin9 by Chwities: Statement of Recommended Pfacllce applicable to charities preparlng their accounls in accordance with Ihe Financial Reporting Standard applicable In the UK and Republic of Ireland issued In October 2019. the Flnancial Rèpt)rting Standard sp￿ICable in Ihe United Klngdom arKI Republic of Ireland (FRS 102). the School's Memorandum, the Charitie3 Acl (Northem Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charilies (Accounts and Reports) Regulatlons (Northern Ireland) 2015. Companles Act 2006 and UK Generally Accepted Practlce. REFERENCE AND ADMINISTRATIVE DETAILS R•gl•t•r•d chaflty nam• Coleraine Grammar School Charfly r•glstrallon number Company numb¢r Reg18ter•d offlc• H•admast•r 103870 N1628384 23-33 Castlerock Road, Coleraine, Co. Londonderry, BT511 BG Dr J. Carrulhers 8ocr•tary Audttor Mr A Llnnegan GMCG Belfasl. Charterèd Accountants & Staluiory Auditor, Alfred House, 19 Alfred Street. Belfast, 8T2 8EQ Danske Bank. N¢)rth Business Cenlre, Ballyfflona, Co. Antrim. BT43 7AA Bankorn Tfil8ta•8 of the eharlty The Governors, who 8re also the trustees and Ihe dlreetws for Ihe purpose of company law and who 8éré8d during the year and up to Ihe dale of $lonaturè of Ihe financlal statements, except where noled below, Ihose who resign8d durin9 the year or Ihoge who were appolnted or resigned after the year ond, were: Mrs A Curry Mr8 J Currle Mrs H Hamllton Dr J Kerr Mr A LInn￿An Mr H Montgomery Mr G Monlgomery Mr F Mullan Mr W Ollver Rev Dr l Thompson Mr D Workman (reslgned 30 September 2024) Mrs C Fefguson MrCR8a (resuned 31 August 2023) Mr J Klld8a {reslgned 28 Febnmry 2024) Mr8 H Burns (resoned 30 Sept8mb8r 2024) Mr J McLenaghan {resign8d 28 F&bruary 2024) Mr8 T Reid {resign8d 28 February 2024) Mr G Hutchlnson Mr R Archlbald Mr R Cochrane Mr J Glbs¢)n Mrs K Gllpln Mr N Linnegan Mr R Tottan Ms J Rlchmond (reslgrnd 28 February 2024J Dr M HinGh (reslgned 28 February 2024) Mrs L McLean (appolnted 28 February 2024) MrA Pepin {8ppoint9d 28 February 2024) Mrs L Somerville (appolnted 28 Februwy 2024) Dr D Murdock (appointed 28 February 2024) Mr G McGaugh8 (8ppolnled 28 February 2024) s J Stewart Mr A Kerr (appolnted 30 September 2024) Chalrperson (rnsigned 30 September 2024) Page 3 Coleralne Grammar School Governors, report (includlng Dlr•ctors' Report and Strategic R•port) (contlnu•d) Year ended 31 March 2024 PUBLIC BENEFIT STATEMENT The Board of Governors confirm that they have had ¢Jue regard for the guidance produced on Public Benefrt by the Charity Commlssion foi Northem Iraland, and are pleased to report that during 2023124 the School has ccnllnued lo provida Public Benofils through the teaching and facAllties we offer. OBJECTIVES AND ACTIVITIES Colerainé Grammar School was founded In 2015 from the reorganisat￿n Qf iwo loundlng Schools. Coleralne Academical Instltution and Coleraine Hlgh School and is a non4lenomlnatlonal co- educational day voluntary grammar school. The objeGlives for whlch the school is establlshed are.. To provlde for the educatSon, physical training, recreation and extrawcurricular activilies ol pupils and 81udenl8 aged 11-18 attendlng lh8 School Irrespectlve of social, religk)us ￿ cullural background who have academic aptilude. and vtho wlll benèfit from the hlgh academlc slandards and sp8¢iallst teachlng by carrytng on a ¢Oryedu¢atlonal voluntary grammar School arKI lo ensure that pupils develop Ihrough thelr work selfqlisciplln8, self•confidence and a respect for knowledge arKI that they are well prepared for the requlrements of lerthary level e(kJcation andlor employment, and for that purpose lo appoint such principals, professors, lecturers, and other teachers. as may be deemed necessary on such conditlons as the Governors shall from time lo time determlne, and for such purpose lo provlde halls. gymnasia, sports fields and playgrounds for the puplls of the School and fumish, equlp and malntaln the same. Our Ethos and Vlslon Our Governors are responslble for setling a slrategy for achievlng ihe set oblecllves. Thè viglon f¢r Coleraine Grammar Sthool is: A cartng. fespeclful and $upportlve envlronment where all pupll$ and 51aff aspi￿ to excellence In every area of school Ilfe. In our School we belleve that strong, mulually respecrful ralatlonships and a cohesive community are the foundatlons on whSch good 18arnlng and leachlng can flourlsh. Wg aim lo develop Independenl and self-motlvale(I puplls who have hlgh aspirations to achleve the* potentlal and make Informed de¢i¥ions aboul their health and wdl-beSng. We undertake to create an Incluslv8 Scfv)ol Identity and respectlul relallonshlps underpln our efforts to apply effectlve, re8toratlve, posltlve behaviour management. Leadershlp at all levels Ilslens to and communlcates ideas clearty lo all stakeh¢lders. Our Achlevomenl8 The academlc. cultsjral and 8PQrtlng achlevemenls and performance of ptsplls are reported to th8 Governors and tha whole school communlty. Cuff Sculum and Achl•v•mont8 The School'8 currSculum Is mad6 8vailable to prospective parents In writing, Sublecl Infommtion is avallable on the school's website to asslsi ￿1h SUb￿t choices in Years 10 and 12. The educatlonal aGhlevements of Ihe puplls are reported to Ihe Board of Governors arKI are made more wKlely gv8Mabl8 In Ihe School prospeclus. other rnlevant materlal Is made avallable vla the school webslle, Facebook, magazine and local press. STRATEGIC REPORT The des¢rlptlon under the headlngs 'Achlev?ment$ and performance" and °Financial revie￿ meet the company law requlrements for the Governors to present a strategc report. Pag• 4 Coleralne Grammar School Goveinors, report (Includlng Dlrectors, Report and Strategic Report) (cDntlnuod} Year ended 31 March 2024 ACHIEVEMENTS AND PERFORMANCE The principal source of income Is by way of grant fundiTrJ from the Departmeni of Education whlch accounts for 95% of School income under the common funding formula, Addltlonal Income is generated through voluntary parental ￿nIributiOnS, logether with hire of accommodatlon. Tl Governor5 are coniinuing to deploy all nel incoming resources to investlng in educatlonal Purposes arKI Ihe physlcal Conditi￿ of tho School estsle, During the year. the works undertaken to address a health and safely issue regarding co-educational changlng faclliti68 ai ihe War Memorial Pavilion were completed during the year. FINANCIAL REVIEW R•sorv•$ poll¢y 1118 tho pollcy of the charltable company to malntssn free reser4es wthlch malch the needs of the School, both at the currenl twne and In Ihe for8se8able future. Thls provldes sufflcient funds to cover running cosls whlch Include manageméni, admlnistratlon and support costs. Free r8serv8s ar6 those urwestrlcted reserves nol deslgnated nor invested In flxed assets whlch are avallable for general use. Th8 Governors and Executlve Committee receive regular reports Induding Management A¢¢cwnts and over8ee rlsk mana9emenl. Total Income for the year was £7,351,002 (2023.. £6.736.876). Income from donatlons amounled lo £158.527 (2023: £317,019) and Income from charltable actlvltles amounted to £7.192,475 (2023., £6,419,857). Total expendlture for tho year whlch all related to expendlture on charllable activities amounted to £7,205,476 (2023.. £6,750,915). Expendilure predomlnantly consisted of slaff cost8, rent, raies, Insurance, Ilghl and heat, cleanlng, repairs and maintenance costs. Thls resulted In net Income for the yew of £145.526 (2023.. nel expenditure of £14.039). Nei assets at 31 March 2024 were £487,182 (2023.. £341.656} of which unreslricled general funds were in surplu6 by £218,392 (2023: surplus of £101,578), unrestrlcted designated fund8 were £Nil (2023., £Nil) and re3trtclad funds vmre £268,790 (2023.. £240,078). At 31 March 2024, free reserves 8r8 in surplus by £174,187 (2023: in Jurplu3 by £23,166). Flnanclal rlsk managwnent obJo¢llv•s and pollclos The School uses varlous Ilnanclal Instruments Including cash and varlous items such as Irade debtors and Irade credltors that aTlse directly from Its operations. The main purpose of thes8 is to raise finance for th8 School's operaiions. Page 5 Col8raine Grammar School Gov•rnors' roport (Includlng Dlrectors, Report and Strateglc Report) (contlnuedl Year endod 31 March 2024 FINANCIAL REVIEW (conllnugd) Flnanclal rhk manag•m•nt obJ•ctlv•s and polkles {contlnu•d) The exlslence of Ihese financial instruments exposes the School to a rbumber of financial risks, these are described in more detail below. The School does r#)t LLse derivative transactlons to mlnlmise exposure to Interest rates or foreSgn exchange. The rnaln rlsk arlslng from Ihe School's use of financlal inslrumenls Is Ilquidlty risk. The School seeks lo manage financlal risk by énsurlng sufficient 1squSdlty 1$ avallable to meet foreseeable needs. Short-tenm flaxibilty is achleved by manglng cash reserves. Tax status The School Is re￿stered as a charity for corporatlon lax purposes. Slte gecurlty On both campuses all visitots musl report to reception and are supplied wrfth visitors. passès, If necessary, and slgn In and out. Pupil$ mty not leave School unless accompa￿ed by a parenvcarer (Years 8 to 12) and supply a parenlavcarer note. The Lodge Road campus I￿lIdIngS cen be locked down. Investment 19 needed on the C8Sllerock Road campu5 to secure the perlmeter and buildlngs. and fundlng has been applied for to the Educallon Authorlly. The new bullding under the School Enhancement Prokramme will ba secure. PLANS FOR THE FUTURE In a dwfkull flscal envlronmenl, the Governors wlll strlve lo rnalnlaln the School's objectfve8 by wovldkng hl9h qualty teachlrva and learning re3uSlSng In hlgh achlwilng socially confidenl puplls. The SEP programme f (¢ontlnu•d Year ended 31 March 2024 STATEMENT OF GOVERNORS, REPSONSIBILines (conllnuodj state whether applicable UK Accounllng Standards have been followed, subject lo any material departures disdosed and explaSned In the financlal statements; prepare th8 finandal stalements on the going concern basis unless It is inappropriate to presume that the charitable Company will continue in operation. The Govemors afe responslble for keeping adequale accounting records Ihat dls¢lose wlth reasonable accuracy at any time the financial position of the charltable company and enable them lo ensure that the financial statements comply ￿ThIh the regulations of the Department of Education and the Companies Act 2006. They are also responsible for safewarding the assets of th& charitable company and hence for taking reasonable sleps for the prevenlron and detection of fraud and other kregularities. In so far as the Govemors are aw¥e'. there is relevant audlt Information of which the charit8ble ¢ompary's audllor Is unaware; and the Governors have taken all steps Ihal they ought to have laken t¢ make themselves aware of any relevant audil infomiation and to establlsh that the auditor Is aware of thal Inf￿rnatIOn. The Governors ar¢ respor)slble l¢r the maintenance and Iniogrily of Ihg corporate and financial information included on the ch8ri1abJe company's webslte. Legislalion In the Uniled Klngdom governlng Ihe preparatlon and dlssemlnation of financial slatemenls may differ Irom le￿SlatIon in other lurlsdictlons. AudStor GMCG Belfa8t are deemed to bo re-appolnled. Each of Ihe peTson$ who is a GoVerr￿1 at the dale of approval of this report rAnfirms that.. so far as they are aware, Ihere is no felevanl audil informalion of wthlch the School's auditor Is unaware,, and they have taken all sleps that they ought lo have laken a$ 8 governor to make themselves aware of any relevant audit infom)atlon and to estsblish Ihat the Schoofs auditor is aware of thal inforrnatfon. The Govern￿$. report, includin9 the Strateglc report was approved by the Board of Governors on . and Signed on b8half of the board by: Mr W Oliver Chalr Registered office: 23-33 Castlerock Road Coleralne Co. Londonderry BT513LA