ANNUAL REPORT 2017-2018 Charity Registration No

ANNUAL REPORT 2017-2018 Charity Registration No

THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION SARAH, DUCHESS OF SOMERSET obit 25th October 1692 re-endowed the Tottenham Grammar School. ANNUAL REPORT 2017-2018 Charity Registration No. 312634 THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Co-opted Trustees Mr F Gruncell (Chairman) Mr T Clarke Mr P Compton Mr J Fowl Mr G Kantorowicz Mr R Knight Mr K McGuinness Ms V Philips (Vice Chairman) Mr K Brown Trustees appointed by Mr A Krokou the London Borough of Mr P Jones (Until 23/05/2018) Haringey Ms B Blake (Appointed 24/05/2018) Clerk to the foundation G Chappell Charity number 312634 Principal address PK Box 34098 London N13 5XU Auditor Bacha & Bacha (Audit) Limited Bankers Multrees Investor Services Ltd Seven Investor Services Ltd The Royal Bank of Scotland Plc Solicitors Clifford Chance Investment advisors Savills Investment Management (UK) Limited GAM London Limited Stonehage Fleming Pooled Investments (Ireland) plc Gracechurch Wealth Management LLP Schroder Investment Management Limited THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION CONTENTS Page Trustees' report 1 - 6 Independent auditor's report 7 - 8 Statement of financial activities 9 Balance sheet 10 Statement of cash flows 11 Notes to the accounts 12 - 17 Appendix 1 - Grants of £1,000 or more 18 - 24 Appendix 2 - Extract from the Scheme of the Foundation 25 Appendix 3 - Rules for the management of the Foundation 26 - 27 Appendix 4 - Conditions of Somerset Awards 28 (including Undergraduates Awards) Appendix 5 - Advice to schools requesting grants 29 - 30 Appendix 6 - Advice to organisations requesting grants 31 - 32 THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2018 The trustees present their report and financial statements for the year ended 31 August 2018. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Scheme , the Charities Act 2011 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 2015)” Objectives and activities The objects of the charity are to promote the education of persons under the age of 25 years who or whose parents are resident in the London Borough of Haringey or who have at any time attended as a pupil at a school in that London Borough and who are in need of financial assistance. Further objects are to provide benefits at any maintained schools and colleges in the London Borough of Haringey that are not normally provided by the Local Education Authority or Governing Body. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance in public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policies for the year. The policy and objectives of the Charity continue to be fulfilled through the finances raised from its sound investment portfolio. Grant making policy For the period prior to the year covered by this report, the foundation had two standard awards for Haringey resident young people who have attended Haringey schools. They were the Somerset Undergraduate Award and the Somerset Award. For the academic year covered by this report onwards, the trustees have decided to remove the Haringey school attendance requirement. Haringey resident young people applying for either of these two awards can now be current or former pupils of any maintained secondary school. For the period covered by this report, the individual Somerset Undergraduate Award's total value was up to a maximum of £1,050 payable to an eligible student in annual instalments of £250 for their first year, £350 for their second year and £450 for their third year. The Somerset (further education) Award was £250. The rules and conditions for Somerset Awards and Somerset Undergraduate Awards are reviewed annually. For 2017-2018, the trustees made no changes to the previous year's budget heads. The list of budget heads was as follows: Arts, Borough-wide/Post schools, educational activities, P.E and games, primary schools, primary schools book budget, Somerset awards, scholarships, special needs, mainstream schools, special schools and administration. The foundation's Awards Committee closely monitors the demand levels for both types of Somerset Awards. To partially address a decline in the uptake of Somerset Awards and in particular, the increased drop-out rate for students at the Borough’s main provider of full-time vocational courses, the College of Haringey, Enfield and North East London , the trustees introduced the Somerset Individualised Supplementary Award. This operates in partnership with the College’s Learner Support Team to help provide targeted support to young Haringey residents who might otherwise fail to reach their potential due to personal and or family economic constraints. Trustees agreed to set an annual budget of £50,000 for this new Award’s initial operation . However, the total value of Awards made has remained lower than envisaged at £13,850 for 2016-2017 and £20,350 in 2017-2018. - 1 - THE TOTTENHAM GRAMMAR SCHOOL FOUNDATION TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2018 Achievements and performance During the course of the year, the trustees visited schools and other establishments, concerts performed by Haringey Young Musicians and various other events. These visits continue to form an important part of the foundation's year providing opportunities for informal meetings between staff, students and trustees. Awards and grants totalling £1,244,491 (£1,052,146 in 2016-2017) were paid during the year. 100 grants of £1,000 or more were made to schools and other institutions. Details of the 50 largest aggregated payments to organisations during the year can be found in Appendix 1, attached to the accounts. The provision for Somerset Awards in the foundation's budget for 2017-2018 was £372,000 (£322,000 in 2016-2017) and awards totalling £297,000 (£284,975 in 2016-2017) were paid during the year. In 2017-2018 a significant number of students, 151 out of 706 (21%), failed to take up their Undergraduate Award. As in previous years, this figure could not be forecasted with any degree of accuracy, however, it is a decrease on the 25% rate in 2016-2017. During the year a total of 3 16 new Somerset Undergraduate Awards were approved. This represented a 5 % de crease over the previous year and a continuation of the trend of reducing levels seen in earlier years. It remains unclear how the 40% boost to the Somerset Undergraduate Awards' total value has affected application rates. The early indications for 2018-2019 are that numbers might be increasing marginally. For Somerset Awards, the progressive reduction in the number of students applying seen in recent years has reversed somewhat . There was an 8% improvement in 2017-2018 over the previous year and early indications for 2018-2019 show that this modest increase is continuing. The F oundation approved 77 Special Somerset Awards totalling £ 51 , 816 for the year compared to 83 in 201 6 -201 7 for a total amount of £34 , 938 . From 1 September 2010, an arrangement known as "The Haringey Young People Bursary" scheme has been successfully operated in partnership with the Mountview Academy of Theatre Arts. These bursaries were aimed at Haringey resident students on the Academy’s part-time courses. The total expenditure for the year was £26,500 (£25,778 in 2016-2017). This Bursary scheme will be discontinued from the 2018-2019 Academic Year because of the Academy’s permanent relocation to Peckham in South London. Grants to the value of £1 94 , 016 were given specifically for primary schools during the year (£1 64 , 295 i n 201 6 -201 7 ). This total includes grants made under the Books for Primary Schools budget. The previously reported matter of low numbers of primary schools' book requests and the proportion not actually claimed by the schools continues to be a point of concern for the trustees. The F oundation continues to provide grants to schools for the cost of musical instrument hire as part of the Borough's Whole Class Instrumental Teaching scheme. Each year a fixed formula is agreed with the Head of Haringey's Music Service. 3 7 classes in 19 schools participated in the scheme during 2017 -201 8 . Trustees have continued to use their discretion when considering requests for grants f r o m secondary schools so as to comply with the requirement contained within the Scheme that these be restricted to those items not normally provided by the Local Education Authority. As in previous years, a number of grants in 201 7 -201 8 were approved to help with the costs of school trips. Usually, trustees will restrict such grants to the benefit of pupils in financial hardship. Amongst the destinations this year were Spain, Miami, Paris, South Yorkshire, Cheshunt, London, Hatfield, Kent and Cuffley. During the year grants totalling £ 71 , 577 were paid for Grants to Special Schools and Special Needs in mainstream schools (£ 71,292 in 201 6- 201 7 ). The Foundation's assistance to young people with special needs who have moved into post-school education continues to be a high priority and Trustees have been pleased to continue the sponsorship of a number of trainees at the Harington Scheme which prepares young people with learning difficulties for careers in horticulture. In 201 7 -201 8 £ 36 , 750 was approved for this purpose (£ 28 ,000 in 201 6 -201 7) .

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