Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 Company Registrxtion No. 03614841 IEngl*]Jd #nd V¥'#les Registereil Charity No. IlJ71247 ACF SEVENOAKS (A COMPANY LIMITED BY GUARANTEE) Report and Financial Statements Year Ending 31 August 2022
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SEVENOAKS A c.OMP,INTr' LIMITED BY GIJARANTEE CONTENTS Legal and Administrative Information Report of the Trustees Report of the Independent Auditor 7-10 Statement of Financial Activities li Balance Sheet 12 Notes to the Financial Statements 13-19
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SEVENOAKS A c.OMP,INTr' LIMITED BY GIJARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Com umber 03614841 15tercd chAri nurnber 1071247 Goi'erni documellt ACI.. Sei.enoaks 15 a coinpany limited bv guarantee gowern¢d bN' its Memorandum and Articles of Association dated 3 Augusi 1998. 11 is rcEISICILd as a charity %sith ihc Charitj Commission. Directors M,11 FaiLd Nq A Collins C Fal'ed O Fayed itered ffi 55 Park Lane LiTrndon WIK INA Auditor R%M IIK Audit LLP 25 Higli Str¢¢t Crawlew 'e%l Siissex RiIIO IB(t Bxnkers Allitd Irish Bank (GRI Ma>'fair Ilusiness Ceiitre Fiisi Floor Berkele) S4uaTe House 4-19 BcrkLIL) SquarL WIJ 6HR Solicitors Itrbert Smith Exchangc House Prirnri)%e Street l.ondon EC2A 2HS
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246
ACF SF.I'F.NOAKS
A Company Limited by Cillarnntee
REP()RT ()[ TIIE TRII%TEE%
FOR THE YLAR ENDLD 31 ALGllSI-2022
Thc DirLiors (who arL also Irusiccs ol'ihL charil) for IhL pufposLS ofihL ChariliLS Acil prLsLnt Iheir annual rcport iogLthcr
lili the audited financial statem¢nts (If AC.F %¢N'en(iak8 (the ci)mpan>l f(Ir tlie ve. ¢nd¢d 31 Au8USt 2022. The Board (If
Directors IBODI confirm that the Aiinual Report and f1nancial slateiiients of the company coixplj with the ciirmt Sk91Utory
rLquircinLnts. IhL rcquircinLntsol'thc compiL ny s govLrningdocumcni and IhL prOl10n80I.lhc Siatcmcni of RLcommcndcd
PrdLtiLe l%(JRPI -ALLuunliiig and RepL)rling bv Charilirts, leneLliN'e l Janu£Uy 20191 IllLludin¥ FR%102 -The FinlIa1
Rep
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.I'F.NOAKS A Company Limited by Cillarnntee REP()RT ()[ TIIE TRII%TEE% FOR THE YLAR ENDLD 31 ALGllSI-2022 Reknted parties co-operntion with other organi58tiUll5 A TTUtte wh(1 is in anv whether (lireLtII OT indireLtl>. Inte81ed iii a oinlialt (Ir pr()pDed Lx)ntra¢t, aiTangetn¢iit or dealing iviih the charit>. shall declare the nature ot hi5 interest at a meetiiig of the L4oard of I rustees. In the current }'ear siich rLlaicd paTty Iransaciions haNL rcroricd in notc 13 of'ihc tinancial siaicmcnis. Objcct5 'I'lie objects are 5etout in th¢ M¢moranduill as the promotion of education and tlie relief of children and }'oung person5 wlio are in condiiions ot'need. hardship or distress. Aims Tlie Cliarit s 11¢Y is to suprI charity-established schools, which specialise in the provision of education to childTen Mhosc m&instrcam Lducaiion has brokLm down. Public benefit I'lie I ruslees are sat15fied that the objects are charitable and demon5traie that the charit>. operates for the public benefit. Review of adivities FollO.inS th¢ grant of a loiig-t¢rm l¢as¢ to tli¢ t¢naiiL W¢st Heath 20QO. th¢ charit>'s rnaiii adivity. has been Inoniloriiig pix)gre55 at Tlie Ne. Scliool aiid its compliance witli the Itast coi'enaiits. Monitoring ini'olves atteiiding aniiual Trustee mLLlings and rLadin¥ toard minLltiS 10 undLr5ld IhL varioug s)sicms IncoiporaiL and lis finanLial l&billI¥. FailurL or tlie %Lhu()l L() meet il% i)bligaliuii% uiidei- the Ie, uf i¥liiLh linanLldl siknility 15 une, ni&> Tesult in LLe11tI()i1 ()f tlie lease. Achievements ContinLILd annual compliance of'ihc ILasc obligations and thLYCtorc continucd suprI for Wcsi Hcaih 2000. Financial reviv The operating deticit ot. £62,188 12021.. £32,454) shoiTrn in the Siatemeni of Financial Aciiviiies ar05¢ principallv from depreLiaiion ot'Fixed Assets acquired in prei'ious accounting periods and protessional tees. Risk manggement 'I'he I riislees have assessed the major risks to w'hich the charity is exposed and are satisfitd that s}'stems are in place to niiligaic IhL cxposurc 10 IhLSC risks. Thc risks and rLlaicd miiigation ol'such risks arL as follo.$-. Failure ot-IK'est Heatli 20(Ml lo coniply ii'ith its obligat10115 under the operating lease. This is miligated bv dltendance at Wesi Hedth 2000 Trusiee rneeiings. Investment powers and policy I'ht Board of 'l'nJslees lias tlit powers to invest the moneys of the charity not irnniediately required tor its purpose5 in or upon suLh invcstmLnis. sccurilics or propLfi}' as thc) mav think lit. Reserve5 and going Concern policy Thc Trusiccs havc LSllÉ blishLd Ihat LinrLsiricicd rL%Lrvcs arc io bc maintaincd 10 Lnablc ihc charill 10 fullil ils prirnarv i)bjeLLlI'e%. The unre%triLted I-er1'e5 dt 31 Augu51 2022 N%'ere in SUTplu* b) £884 120?1'. 4UTplu% £13.1771. The de%igndled fvnds being £3,199.46112021.. £3.2i1,3861. As ihc Lharii), has coniinucd 10 tocus its aciivitics on suproning ihc dcvclopinLni ol-Thc Ncw School: th¢ Trusiccs do not congidcr it 10 bL appropriaiL to rdigL I'unds and csiablish rLSLrvcs lor any oiher purposL.
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246
ACF SF.I'F.NOAKS
A Company Limited by Cillarnntee
REP()RT ()[ TIIE TRII%TEE%
FOR THE YLAR ENDLD 31 ALGllSI-2022
OnLe the pri?¥rdtn i)f LapIt wurks ai The SLh()i)I Is Lumpleted. general fLd[al51Tr¥ will be dieLt tc)¥vatds' the
e%tablishmenl nf re%¢Trt8 which N4'ill uliitnatelv ¢nahle the ¢haritk tn rnak¢ financial &s5ifil4nce vf a signifi¢ant arn
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.I"F.JOAKS A Company Limited by Cjuarantee RIp()RT ()F TIII TRITSTII. FOR THE YL.4KEIDLD 31 AIiGLST2022 Statement a5 to di5c105ure to our auditor Sr) far ea¢h of th¢ Tru%t¢e% 1% alvar¢ at th¢ litn¢ th¢ TewTrrt is approved.. al ThLYC is no rLlciani audit information ot'which IhL chariiv s audiior is Un'are. and bl The Trusiees hai'e iaken all the sieps Ihdi Ihe), oiighi 10 have iakert 10 make Ihemselves awaTe ofanN relevant audit inf()rmdlii)n tci e%labli%h that the Lharil} % Judili)r 1% c)t'thal iiit(Irtnatii)n. Auditor The auditur. RSM IJK Audit LLP. 15 deetned tu be reJppi)inled iiiider SeLtii)n 487121 (if the c()Mpie% ALt 2006. ApprO¢d by the Board of Trustees at ils rnetting on 15 1)eceniber 2022 and signed on its behalf by.. OoBuSlgnedty.' 66068AfjLWNA7. C Fayed Director
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by CillxrAntee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACF SEVENOAKS Opinion Wc have aiidiied ihe tinanLial siatements ot'ACF Sevenoaks Iihe-chariiable compan) } for the Jear ended 31 August 2022 .liich comprise Ilie Siatenitni ot Financial Aciii'iiies. Ihe Balaiice Slieei and noies 10 tlie tiiiaticial siateintnis. including a SLimrnari ot'signiticani accounting rolicics. ThL financial rcporting trJmL%4'0rk that has bLYn applicd in ihLlI' prcparaiion is applicable law. and Uniied Kingdom Accouniing Siandards, including FRS 102 'The Financial Reporting Standard applicable in ihe UK and Republic ot'Irtland" (United Kingdom Generally Ac£epied Ac£ounting Practice). In our opinion the tinancial statements.. gil'e a true and tair view. ot'ihe siaie of ilie chariugble company s atyairs as at 31 Augiisi 2022 and ot'its incoming resources and applicaiion of resources, including lis income and expendirure. tor the ytar Ihen ended- hai'e been pn)perl) prepared in acLordanLe iih lJniied Kingliom Generall) ALLepied ALLounling Praciice4 É2rtd lial't b¢¢ii pr¢par¢d in accordwic¢ the r¢quir¢m¢nts ot-the Cornpani¢s Ad 2006. Basi5 for opinion We conducted our audit in accolan¢t i%-ith Inlemational Siwidards oli Auditing (UK) IISAS ILIKII and applicable laiv. OUT responsibilities under those standard5 are turiher describa in th¢ .4udilor s Irsponsibilitie5 for the audit of the financial siaiements seLlion ot'OLir reron. We are independent ot'ihe charitablt compan). in accordance ¥Yith Ihe h1¢al requii'emenis thdt relei'anl l() l)UT diidil ()f the finanLial %tsEetnent4 in the IJK. IllLluding the FRC-4 EthiLal Standard we hai'e fiJlfill¢d our other ethical r¢sn51b11itle5 in accordance itli these r¢qiiireill¢nts. Il'e belie¢ that the audit evidence M'e hai'e obiaiiitd is Sutficitni and appropriate to providt a basis for our opinion. Corttlusions relxting to going tontern III aLiditiIig IIIL linanLlÉil siaiLiiiLnts. 'l have concluded thai Ihe Irustees, use ot. Ihe going concem basis of 8CLounting in IhL prcparaiion ot'ihL tinancial siaiLmcnis is appropriaic. Basld on Ihc Ork i%'c haic pcrlormcd, WL havc noi idcntificd anv matLrial unLCrtainIi rLlaiing io cvcnts or condiiions Ihat. individuallv or collLYIii'LI), mav casi signilicani doiibi on ihc charitablc compan>'s abili1> 10 coniinuL as a going concem tor a ptriod ot-at least iwelve months trom i%,hen Ihe tinancial sthtements are authorised tor issue. Our rcsponsibililiLS and ihc rcsponsibiliiicg ot. Ihc tTUSI(Ys with rcspcct 10 going conccm arc dLscribLd in ihc rclciani sections ot this report. Other inforniation The trustees are responsible for the othtr information. The other information comprises the inforrnation includtd in the Annual Rcport othcr Ihan IhL tinancial siaicmLmts and our aiidiior s rcwri IhLYcon. Ouropinion on Ihc tinancial siaicmcnis does noi Loi'er tht oilier itiformation and. except io the exitni oiheN'ise expliciily staled in our repon. w'e do noi express any lorm ol'assLii2ncL conclusion thLrcon. In connection M'ith our audit of the financial statements. our resronsibility is to read the other inforrnation and. in doing so, considLr NTrhiihcr Ihc othir inttirmation is maicriall}' inLonsisicni with thc financial siaicmLmts or our knowlcdgc obiaincd in the auditor othenvise aparS to bemateriall! missiated. It'ive ideiitity such Inaterial inconsi5ttncies or apparentmaterial missiaitments. 't are required to dthermine ivhthher Ihere is a maierial mi&siaiemeni in Ihe tinancial staienients or a maitrial rnisstaiemeni ot. the oihtr intormaiion. It., based on the work Is'e have pertormed. Ive coneludt Ihai there is a tnaterial missiatement of ihis oiher information: we are required to report thai fact. Wc haic noihing to rcport in Ihis rcgard.
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by CillxrAntee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACF SEVENOAKS Opinions other matters prescribed by the Companie5 Act 2006 In ()ur opinii)n, bLised É)n Ihe work unliertaken in the Lourse i)fihe audil.. th¢ inforiiiation given in tli¢ Trust¢es R¢poiT, hl¢ll includes the l)ir¢ctors' R¢port prepared for th¢ PuTSe5 of ornpan) law, for the financial Near for hl¢ll the tiiiwicial 5tatem¢iits air prepared is consi5t¢nt '7th the tiiiancial stdteiiitnts.. an(1 the Dire¢lor5 R¢port included within the TTU5¢s' Report has been pr¢paT¢d in accordance with applicable legal requirernenls. Matter5 on which we are required to report by exception In the light ot-tlie kiiowledg¢ and uiiderstandiiig of tht cliaritabl¢ coinpany and its cli ironrnent obtained in th¢ cours¢ of th¢ audiL we hav¢ not id¢iitifi¢d rnal¢rial misstal¢in¢nts in the r)ir¢ctQTS' Rep)rt includ¢d i¥ithin the TTusl¢¢s R¢port. We hav¢ notliing to rewrt in respect ot the follom.ing illatters iwhere the c.ompanies Act 21M)6 require5 US to rewTt to you if. iii our opinion.. adequate accounting records have iiot been kept, or returns adequate for our audit haTre iiot been received fro branche5 llot visited bi. u5. or tht financial sraiements are not in agreement with the accounting records and retums., or Lcrtain disclosurLS ol'irusiLLS rcmLinLYaiion spLcilIL b), law arL not madc,. or we have noi receiied all Ihe informaiion and eAplanaiions 'e require for our audii., or the Tru5tee% were ni)l entitled ti) PPare the finLI1 %ldtetnent5' in aLlI)rdLe with the sfflall LU[nP]1es, regime and iakL adantage of IhL small companiLS LXLmpiion from IhL rc4uircmcni to prcparc a SiratcgiL RLwri or in prLp1tsg IhL Trustccs Rcport. Rtspunsibilities of trllstees A5 expldined mc)re full) in the Statement of Trusteeg. respM)nsibilitie5 set out on pa¥e 5, the trustees (who are algo the dircLiors ol IhL LhariiablL Lompan), lor IhL purposLS of Lompany lawl arc rcsportsibl for ihL prcparation of thkn finanLial siaitmenrs and for being saristitd ih81 rhtw gile a true and tair Niew. and for such iniernal conirol as ihe Irustees dthermine is necessdTy LO enable Ihe PTepaTaiion of finanLial siaiemenls Ihai are free from maierial misslatetnent. wheiher due 10 fTaud or Lyror. In prcparing ihc financial siaicmcnis, thc irusiccs arc rcbponsiblc for asscssing Ihc chariiablc companj s abiliiy 10 coniinuL as a going concem, disclosing, as applicablt. mailers relaied to going concem and usino the going concern basis of aLLoiiniing unless Ihe tTusiees either iniend to li4uidaie Ihe chariiable Lompany or 10 cease operatiorts, or hai'e no Tealisiic altcrnatiic bui io do 80. Auditor's rtsponsibilitits for the udit of the finAntiAI stAttmethts Oiir objectives are io obiain reasonable asslirancc aboui he1hcr the tiiiancial sraiemenis as a whole are free trom materi missiaiement. '1)ether diie 10 fraud 01 error. and 10 issue an dudiior's rewrl thai inLludes our opinion. Reasonable assiiranLe is a high ILNLI ol-assurancc. but is noi a guaraniLC Ihat an audii LondilciL in ac£ordancL wilh TSAS IUKI ii'ill always dcicLt a niaierial nii55taienitni w'hen it exists. Misstaiemtnis can arist troin traud or error and are considered niaierial it.. individiiiillv or in ihL aEgrcgatL, IhLJ could rcasonably bc CAPLthcd io inllLlCnCC ihc cconomic dcLisions ol. USCTS iakcn on the basis ot'ihese tinancial sta*menis.
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by CillxrAntee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACF SEVENOAKS The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularitie5 art Iristaiices ot Iw)n-compliance .1th laws and regulatioiis. I'lie objectii'es ot our audit are to obtain sutficient appropriaie audit eIden¢t rtgarding compliance il'ith laws and regLilaiionb Ihar hai'e a direct etleci on ihe dticrmination ol. nlaicrial amounis and disLlosurLS in ihi linanLial SlalLmicnis. 10 PLrloriii LJit procLdurcs 10 hclp idLniily insvdllLLS of non.compliance 1th other lai4-.5 and I'egulations that maN have a Iraterial efT¢ct on the tinancial statements. aiid to respond appropriately b) identitied or suspected iion-compliance i¥iih laws and regulaiions ideniitied duriiig tlie audit. In relation to traud. the Objecti¢5 Ot-our audit are io identit>. and assess the risk of material misstaterneiit of the tiiiaiicial staicrtlLnts diic to Iraud. 10 obthin sulfiLILni LippropriaiL audii Lvidcncc rLgarding IhL asscssLd risks of maicrial inisbiaicmLnt due l() fraud thri)ugh designin¥ itnplernenling (wpr()priale restH)n4e4 and tl) Te%pL)nd Jppr()priately l() frdud i)r %u%peLted fraud identified during th¢ audit. loii'ev¢r. it is the priniarj responsibility of tnanageineni, Ivith the oversight of t1105¢ charged iiith governance. to ensure that Ihe eiititj's operations are conducted in accordance 1th the proN'isions ot-laws and regulatiotis and tor the prei'ention and dciLciion ol. fraud. In idcniilNing and asscssing risksofmaicrial missiatL)ncni in rLPL1 ol'irrcgulariiiLS, inLludirtg fiaud. Ihc audil LngagLmLni tedm.. obtaiii¢d an understanding of tli¢ natur¢ of the s¢¢tOT. including the legal and r¢gulatorv fTam¢Ork that the chariL9blt conipan}' operates in and hoi4, the charitable compan>. is complying Thith tlie legal regulaior>' rramLwork,. inquired c)f tnJnJ¥etnent. Ihi)%e Lharged 'ith guvernanti. db()ut theiriTrwn Identifi1]0 and assegstnent uf the risks Dt-irirgulariti¢s. in¢luding lY known actual. suspected nr alleged iiistantyes of traud.. discussed matteT5 about noii-coinpliance H'ith lau'5 and regulatioiis and hom. traud iiiight occur including assessment of how and where ihe tinancial siatements ma! t¢ siisceptible to fraud. As a resuli ot. Ihese procedures we consider ihe most signiticani laws and regulaiions thai have a direci impath on the titiatiLldl slalernenl% FRS 102. Chille% SORP IFRS 1021. Cu[nP1e5 ALt 2006. ChariLie% ALI 2011 and the ChIldhIe LOn1p), s ¥<)Nerniiig dvLument. We pei'fi)rRi¢d dudil pr()¢¢(lur¢s Iv d¢teLt n(In-¢iitnplidn¢¢ts wliilh tna). hdTr¢ d mat¢ridl impact on the financial stateiiients. I'he audit engagement tearn identified the risk ot manageinentoberrideof controls asthe area ii,herethe financial statements 'ere mosi siisLepiiblt to maieri81 tnisstaiement dut io tiaud. Audit procedures pertormed incliided but 'tre noi limittd io ILStinE manual jOLirnal Lmtrics and oihcr adjusiinLmts. ci'aluating th busincss raiionalc in rclation to significant, unusual transactions and tran5a¢tions entered into outside th¢ nomial cours¢ ot-business wid challeiiging judgments and estiniate5. A furilier de5cripti(In of our r¢sp(In.8ibilities for Ili¢ dudil Df the fill7¢11 8lattmeiiL4 1.4 Incated (In Finaiicial Reporting Council s 14.-ebsiie at liiip'..'Iwiiw.frc.org.iiaudllQr5r£9pon5lbilItIes. -I'his description torms part ot our auditor s rerI.
DrnJSign Envelope10.. 4059104&FA814BCC-BA52-19B045B9F246 ACF SEVENOAKS A Company Limited by Guarantee INDEPENDENT AUDITORYS REPORT TO THE MELBERs OF ACF SEVENOAKS Use of our report This rwrt 15 made solely to the Chitable cotllpany'5 m¢n]bcr5, a5 a tM)dy, in accordance with thapter 3 of Part 16 of the Lompanies Aa 2006. Our audit ivork has bccn undcrtakcn so that wc Mig siatc io the Charlble company's memtus thoseTnaiiers we are required 10 Sla 10 ihem in an audit'S TerK)rt and fornoother purpose. To the fullest exientpermiiied by law., ed0 notaweptora55UTll¢ re5lK)ll5ibilityto anyon¢otheT than the charitableTnpanY andtherh4ritabl¢cotnpany'5 members &8 a kndy. for our audit ork. forthis rwrL or for the opinions we have fornied. tsn (LL LLf Zoe LOng5taff-Tye1j (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor 23 High Street Crawley W¢5t Sussex RHIO IBG Dak= 3 JanLJary 2023 10
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SFN'FNOIIKS A Company Limited by Guarantee S'I'A'J'LMLj'r OTr FINANCIAL Ac"I'ii'I'i'lLS UNCLIIDING ItYC'OML AND EIYblLII'I'I".KL ACCOLlty'i) FOR THE YEAR ENDED 31 ALGIIST2022 Total Funds Total Funds Unrestricted Note 2022 2021 Donaiions and legacies 30.240 350.000 350.000 Interest received Total income 380.241 Expenditure: Charitable activities 414.218 412.695 Total expenditure 414,218 412,695 Net exp¢nditure and net m(kvement in fund5 for th¢ ye4r 164,2181 132A84 ReeoneiliAtion of fiillds lotal tuiid5 brouglit forii.ard 3.264.563 3.297.017 Total funds carried forward 3,200,345 3,264,563 The Noies on page% 13 10 19 fortn an integral p£rl ()fihe5e FinanLial £iaiernenl%
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by Cillxrnntee BAL.QN(.'E SIIEET FOR THE YLAR ENDLD 31 ALGllSI-2022 2022 2021 ote Fixed Assets TangiblL asgcis 3.199.461 3.251.386 Current A55ets Debtors 23,698 13.064 23.698 24,157 47.855 Cash ai bank and in hand Tot1 Current Assets 36.762 Creditors falling due M'ithin one }'ear Net Current Iliabili¢ie5llas5ets 10 35,878 884 34,678 Total a5set5 less current liabilities 3.2(IOJ45 3.264,S63 The funds of the charity: Llnrtsiricied income flinds Desi¥naled inL()me funds 884 3.199.461 3.251,386 Tot1 ehArit)' funds 3,200J45 3,264,563 I'hese l.'inancial Stattiiients have been prepared in accordance 1th ihe provisions applicable to companies entitled to the small companics cxcmpiion. These FinlIa1 Stdtefflenls were appruved b), the B()thl uf Trustees 15 DeL'ember 2022 and signed i)n it5 behalf bv.. Drus¥¥Lad ty. B8Q6BAfjQCfjQD4AT.. C Fxytd Director Compan>. No 03614841 ThL Noics on pagcs 13 10 19 form an intLgral pan ofthLsc Financial SiaiLxncnis 12
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by Cillarnntee N()TES T(> TIJE FJNAj(.'IAL ST..ITEf411jT FOR THE YLAR ENDLD 31 ALGllS'I-2022 Aetounting polities Legal statu5 Thc chaTlI}' is a LompanN limitcd bv guaranicL and incorporaicd in England and Walcs. In IhL cicni ot. Ihe charil) being wound up. Lhe liabilit) in respeLI ofihe guarantee is limiied 10 £1 per ts11ng mernber of the Cli11}.. The chariry s objtctivts and aims are disLlosed in the Trusiees Report. bl Arrounting Collvention Th¢se financial statements have bew pr¢pared in accolan¢t with FRS 102 "Th¢ Financial R¢poning Siandard applicablc in thc UK and Rcpublic ol. Ircland" Ihc FLquirLleftlS of ihc Companics ALt 2006 d undeT Ilie hi%l()riLdl Lu41 L()ni'enlii)ll. Tni)dified lu inLlude Ilie revaliidlii)n i)r freLhi)Id land buildings. The tinancial sta¢¢ments liave a150 been prepur¢d in accordanc¢ with the accouiiting 1]¢1¢5 set out in Inore detail belo. to compl). ii.-ith the charitTr 5 goveming docurnent and Accounting and R¥porting bv ChariiiLS'. Siaicmcni ot. Rccommcndcd Praciicc applicable to chariiics prcparing ihcir accountg in accorddncc wilh ThL Finai)cidl RLPOrting Standard appliLablL in IhL UK and RLpubliL or Ir¢land ¢ff¢c¢ive frorn l January 2019 Ith¢ FRS 102 Chariti¢s SORP 20191. ThL linancial siatLmcnis arL pfLyarcd in sterling. which is Ihc fiincii0l currLncy of ihc charitsble L4)rnp4y. 'he charity. constitute5 a public benefit entity as defined bTr l.'RSIO2. Going concern The tinancial 5tatement5 are prepared on a going conceTn basis as th¢ charit) has Teceived confiTmation from ihe Trustees Ihat the}, ii.ill provide tinancial and oiher supwri io Ihe exieni necessary. 10 enable ihe charity 10 coniinue to pa} its liabilities as and i1-.hen IheN become dut tor a period ot. noi less than ont yedr fNirn the dale i)f appri)val É)f the%e finJnLial %tsleiiienl%. Fund accounting LlnrLstriLtcd Funds LonipTiSL aLLumulaiLd surplusLS and dclicils on gcncral funds and arL aNailablL for us¢ ut the dis¢retii)n of th¢ trus1¢¢5 in furtlierJnc¢ of the geiieral tyharitable obj¢ctii'es. Designated l.unds are amounts that hai'e been pul aside at the discretion of the trustees. Ai the }'ear end the wmprise ufa Fi¥ed A%set fiind whiLh repre%ents' Ihe nel hi VlL Iiie <)fFixed Asseis held f()r use bv the charit>', and tlierefc)Te not availahle f(IT Clther puTose8 IN()te I I l. Ineome IncomL reprLn1s Ihc iotsl incomc rcccivablc during IhL PLriod comprising donaiions. gins, inicrLSi and Tent reLeii'able. Di)ndti()n% TeLeiN'ed li)r geiierJl purp()%es1)rthe LI7-11Y are inLluded unra%triLled fund%. Any donations receii'ed tor actii'ities restricted by the donor art taken to restricted fullds.
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.VF.NOAKS A Company Limited by Cillarnntee NOTES Ti) TIIE FI.1(..IAL ST.ITENIENrs (CONTINUED) FOR THE YLAR ENDLD 31 ALGllS'I-2022 Income (continued) Inconie is recognised when tlie charit>. has entiilement to the funds. anN pttforrnance conditions atiached io thc ilLmlsl ot. incomc hai'c bccn mct. il is probable thai Ihc incomc will bc rcccii'cd and ihc amount can be n)easured reliably. Expenditure alld irre¢overdble VAT Expcnditurc is reL0gnIsL in IhL pericTrd in M'hich it is incurred. The irrecoverable element of V A T is inLliided with the item i)f expet]5e li) whiLh it relate%. C".hJJ'ilable aciiviries includ¢ the costs incurred for th¢ provision of the School pirmise5 as well a5 goi'cmancc cosis primarili, SOcialed wilh consiitulional Éind siatuiorv rLquircmLnis. gl Tangible Fixed Assets Depreciation is proi'ided on all tangible fixed assets in use. other than freehold land. at rates and bases calculaicd io lvriic olf'ihc cosi lcss cstimat¥d rcsidual valuc ot'cach assci ovcr its cxpcthcd usctul litc: as follows.. Improi'ements to buildings 5 /0 per Illun1 DepreLiJli()n uitnnienLe% i)n impr()vetnent5' to building% when the i"elevJnl prujecL4 Ll)tnpleted the affeLted buildings hai'¢ b¢¢n r¢turiied t() (Ip¢ratiiig us¢. h) Operating Itases The rent reLeivknle under a n()n-cancellable re%identidl le£e 1% at d L(Trntri)Iled rent i¥hen d¢manded. The income is ¢r¢dited lo the Stal¢illent of Financial .4¢livities oTreT the period of the lease. C*sh eash tquivalents Ca4h and La%li eqlila1enl illLliide La%li in hd with ()Tigindl tnaturitie% i)f three ini)nth% i)r le%5. il Financial instruments ThL charity applics LhL provisions of Scciion I I 'BasiL FinanLial Insirumcnis, and Scciion 12 -Othcr Financial Ins11'urnenls 155ues' of FRS la2 to all i)f it5 financial in4truinenls. l.'inancial instruments are recognised when the charity. becoines party. to the contractual proi'isions of the Itislrumenl. l-inancial assets and liabilities are offset, ii.ith the net amounts presented in the financial statements. when there is a legallv tntorctable right to Set ott iht recogmistd ainounts atid there is an inieniion to seiile on a nci bis or 10 rLalisL IhL 2SSLi and sciilL IhL liÉ2biliiy simiiliancous1}'. All linancial instriimLnis of the LhJTity dTe bd%iL theref()re me&%ured at Jtni)rti%ed Lts%t. kl Tax policy The Lharity IS d registered Lhaiili dnd. %ULh, il% inLtsine gdin% fallin¥ within £eLti()n% 371 tci 489 of the C<)rporation Tax ALt 2O1a ()r %eLtion 256 (if theTation of Chargeable CTain% Act 1992 dre exenipt froill corporation tax to th¢ extent that the}. are applied to charitable objectives. 14
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.N'FNO.4KS A Company Limited by Cillarnntee NOTES T(Tr TIiE FINIlN('.I..IL sT..ITEMET8 (CONTINIIED) FOR YLAR ENDLD 31 Ai6iis'i' 2022 Judgements key sourtts of estimtitsn uthtertinty In the appliLdliun ()f the Lh1t% % dLLuunting pi)IiLies. the trustee% required tu tnak'e judgetnent%, timaies aiid assumptions about ihe carrrfing amount of assets and liabilities that are noi readili. apparent from oiher sourcts. The esiimaies and associaied assiimpiions are be on hisiorical experience and othLr taciors Ihai arc LonsidLrcd io bc rclivani. Aciual rLsulis mav diftcr t'rom IhcsL Lslimaics. "I'he estimates and underlying assurnptions are reI¢ed on an ongoing basis. Revisions to accounting tiniaies are recognised in the period in w'hich Ihe esiiniaie is revised wliert tht revision atlecis onlN that PLriod. or in IhL PLriod of IhL Fils1On and (uturL PLriods whLfL IhL fLNision aiTiLlS E¥Jih currLni thnd futur¢ p¢riod5. The rrusiets do noi considerthere ro be an> judgernenis or estimations thai w'ould have a significant effect on thc financial staictllLnts. Dongtions legicies Unrestricttd Total Funds Total Funds 2022 2021 Donaiions 30,240 30.240 ChAritxblt #ttivitits Unrestricted Total Fund5 2022 Totsl Funds 2021 Lcasc of land and buildings 350.000 350.QOO Charitable attivities Ilnrestricted Total Funds 2022 Totsl Funds 2021 Prcmiscs cosis Re%lriLled d()nlIn% (JOtrnanCe costs 51,925 3iO.000 12.?93 414,218 51.927 35o,aaa 10.768 412.61)5 15
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.I'F.NO4KS A Company Limited by Cvuarantee NOTES T() TIIE FIj.IN('.IIlL ST.ITEIIENT% (C(>jTINIJED) FOR YLAR ENDED 31 AIiGIIST2022 INet expenditure This is slated after cliarging= 2022 2021 Depreciaiion 51.927 51.927 Auditor's remulleration RSM UK Audit LLP and lis as8ociaiLs-. 2022 2021 Aiiditor remuneraiion.. For aiidii 12,180 IU.98U Staff costs and remuneration of key management personnel The LhLviI& LiTrnsiders Ihe Bi)ard ofTru%iees and ihe li)[p* %ecreiatl a5 their keN' Éigemenl pergonnel. N tneinher% nt-the Le> Mlge[neIll peT%oniiel reLeiN'ed rernuneration ()r direLt reirnhuT%eiiient nt expen%e% durin¥ the year. ThcrL wcrc no cmploJLXS oihcr ihdn Ihc Irusiccs and thL C4)mp(tnv scLrLtdrv during thL )'L {2021: nill. Tangible fixed assets Freehold Land and Freehold Improvements Buildings Total Cogi At 31 Aiigu%t 2021 2022 1,273.815 3.(J29.757 4.303,572 Dcprcciaiion At 31 August 2021 Charge for vear Ai 31 Aiigu412022 1,052,186 51.925 ,052,186 51.925 Net book value At 31 Au8u812022 At 31 August 2021 169.704 J.ll29.757 3.199.461 221.629 5.029.757 3.251.386 In accordaiic¢ with Fllq 102 section 17.16. no depreciatloll 15 charged on land as It coiisideTed to have ali unliiiiited Iisclul lilc. In acLordanLC i%iih Ihc CharitlLS SORP IFRS 1021 Scclion 10.30, no dLpfcLiation is chargcd on ihc building% Ihe Tru%lees Luiisider Ihdt Lhe re%idual N'alue ()f the building% 15 likely tu be ai leasl equal i() ILS LU51 included 1th1n the financial statein¢ni5. 16
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.I'F.NOAKS A Company Limited by Cvuarantee NOTES T() TIIE FIj.IN('.IIlL ST.ITEIIENT% (C(>jTINIJED) FOR YLAR ENDED 31 AIiGIIST2022 Debtors 2022 2021 Prepayrnents and accrued inwm¢ 23.698 2).698 23.698 io. credito.. Amounts falling dut within one year 2022 2021 Oili¢i' Creditors Accruals aiid defenEd iiicome 35,878 35.878 34.678 34.678 Deferttd intome Deferred InLX)tne dt 31 Au¥u4t 2021 Rel¢as¢d troin prniiou5 vears Amounts deterred in the vear 23.698 123.6981 23.698 23,698 23.698 123.6981 23.698 Deferred intome At 31 August 2022 23.698 Deterrtd income relaits io renial income rtceii'ed in advance underihe ierms of the lease of iht land and buildings. 17
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SEI'ENOAKS A Company Limited by Guarantee NOTES To TIIF. FINANC.'I.,II. ST.QT[lENT$ (CONTINITED) F()R YiilR EDED 31 AI,"(-11ST 2022 Analysi5 of eharitable funds 2022 2021 AnAIysis of movements Iii uiirestritttd funds Income 350.000 1362.2931 112.2931 380.241 1360.7681 19,473 16.21)61 13.177 F.Ypendituie Net mDI'ein¢nl in fund Balance I September 2021 Balancc 31 August 2022 884 Ngmt of unrestrieted fund General fund Description, niture purposes of the fund Th¢ 'fr¢ re5erv¢s' aft¢i' alloi¥ing for all de5igiiat¢d fvnd.4. The Trustees hai'e set aside the general tunds Th'hich they inteiid to use to enable the charity to tulfil its primar). objectives. 2022 2021 Analysis of movements in designated funds Inwtn¢ Lxpenditure Net mobement iii fuiid Balance I Sepiember 2021 BaIlLe 31 Augu12022 151.9251 151.9251 3.251,386 3,199.461 151.9271 151.9271 3,303,313 3,251.386 Name of unrestricted fund A55et fund Description. nature and purpose5 of the fund To purchase or pay for the repair and tnainienance of building5. 12. Oper*ting Itgse tommitments Lessor The operaiing lease represenis a lease of land and buildings to a third pany 1th a remaiiiing term of 91 years. At the reporting end date th¢ ¢haritv had rontra¢t¢d with tenant% for the folloiviiig tnininiurn le£e payrnents.. 2022 2021 Within one vear t.0 and fli'c years More than fli'¢ year5 350.(KJU 1.400.000 30.100.(MIO 31,850. 350.OOt) 1,400.000 30.4iO.000 32.200.000
Docusign Envelope ID.. 40591048-FA814BCC-BA52-19B045B9F246 ACF SF.N"F.IOAKS A Company Limited bp CFuarantee NOTES T() Tiii FI.N(..IlL ST.1T[IENT5 (C()NTINIJED) FOR YLAR ENDLD 31 AIiGUST2022 13. Related party trAnsactions During the year. ni) (k)naliun lids reLeived fwin the fd. rnil}' Al Fdyed12021= £30.240 lering the dudit fee5 for the years 201S, 2019 20201. 19