## **Alleyn Benevolent Fund Registered Charity Number 1075579 Financial statements for the year to 31 July 2020** **The trustees present their report and the financial statements of the charity for the year ended 31 July 2020** |**The trustees**|Mr Chris Heayberd (Chairman)|| |---|---|---| ||Mr Mick Walker (Treasurer)|| ||Mr Mike Jones (Secretary)|| ||Mr Chris Nelson|| ||Mr Denis Lomas|| ||Ms Ginny Johnson|| ||Mr Neil French|| ||Mr Richard Halladay|| |||Page| |**Contents**|Trustees' annual report|1| ||Independent examiner's report to the President|2| ||and Management Board of the Edward Alleyn Club|| ||Statement of financial activities|3| ||(including income and expenditure account)|| ||Statement of financial position|4| ||Notes to the financial statements|5| |**Independent Examiner**|Mr Jason Peck (Chartered Accountant)|| ||36 The Mead|| ||Beckenham|| ||Kent|| ||BR3 5PF|| ## **Alleyn Benevolent Fund Registered Charity Number 1075579 Trustees' Annual report for the year ended 31 July 2020** ## **Governing document** The Alleyn Benevolent Fund is a registered charity governed by a Trust Deed. - Charity Number 1075579 ## **Appointment of Trustees** The Trustees are appointed by the President and the Management Board of the Edward Alleyn Club. One Trustee is nominated by the Headmaster of Alleyn's School. The number of Trustees must be more than four but not more than ten. Each Trustee is appointed for a five year term and, at the Trustees' discretion, further terms can be served. ## **Object of the Charity** The object of the Charity is to provide financial assistance by way of grants or loans for educational or other purposes to those beneficiaries in need. Beneficiaries are those who are or have been connected with Alleyn's School. ## **Risk Management and Reserves** The Trustees must comply with current Charity Law and must keep financial records, produce Annual Accounts which must be subject to an audit or independent examination. The Trustees must hold at least two meetings a year and a record must be kept of each meeting. The Trustees must maintain a bank or building society account in the name of the Charity which must be operated with at least two signatories of the Trustees. ## **Financial review** Total Income received in the year amounted to £61,514 (2019: £35,697), up 72.3% on last year, with £24,000 of the increase relating to a bequest made by a former pupil who attended Alleyn's School between 1939 and 1945. Following the decision by the Alleyn's Parents' Association in 2019 to curtail its donations to the Fund, Alleyn's School has continued to provide ongoing funding to enable the Fund to fulfil its objectives for the forseeable future. A significant and important part of the Fund’s income is derived from a subscription paid by the Edward Alleyn Club to the Fund. On 7 February 2017 the EAC Management Board agreed that the Club would increase the percentage of the Alleyn's School Life Subscription paid over to the Fund by 10% (new total 20%) every year commencing 2018 until 2022 when the contribution will be reviewed. The excess of income over expenditure was significantly up on the prior year. This was due to a number of factors including the aforementioned bequest, that only two terms' bursaries were paid in the year (the Trinity term bursaries were paid in October 2020) and a reduction of £5,995 in the grants paid out by the Pupil Support Fund. We continue to receive investment income earned from the Fund’s investment in Charifund Income Units together with a small amount of interest earned from funds held in a higher rate deposit account at Barclays Bank. ## **Future** The aim of the General Fund is to continue to support two bursary awards to two or more pupils to allow them to complete their A level studies at Alleyn's School. Without this assistance it is likely that several pupils would have to leave the School prematurely because of financial difficulties. Subject to continued support from the School the aim of the Pupil's Support Fund is to provide financial assistance to the pupils of Alleyn's School to allow them to take part in the full range of activities that is offered by the School. Mick Walker Hon. Treasurer 31 May 2021 **Page 1** ## **Alleyn Benevolent Fund Registered Charity Number 1075579** ## **Independent Examiner’s Report to the President and the Management Board of the Edward Alleyn Club** I report on the accounts of the Alleyn Benevolent Fund for the year ended 31 July 2020 as presented by the Trustees of the Fund. ## **Responsibilities of the Trustees** The Trustees are responsible for preparing accounts for each financial year that give a true and fair view of the state of affairs of the Fund, and of its income and expenditure, keep adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Fund, maintaining such internal controls as are necessary; and for safeguarding the assets of the Fund. ## **Basis of Independent examiners report** My examination includes a review of the accounting records kept by the Fund, and a comparison of the accounts presented with those records. It includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees on those matters. The examination does not provide all the evidence that would be required in an audit. Consequently no opinion is given as to whether the accounts present a 'true and fair view' and my report is limited to those matters set out in the statement below. ## **Independent Examiners statement** In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respects, adequate accounting records have not been kept, or that the accounts for the period are not consistent with the accounting records to which, in my opinion, attention should be drawn to the President and the Management Board of the Edward Alleyn Club in order to enable a proper understanding of the accounts to be reached. ## **Jason Peck (Chartered Accountant)** 36 The Mead Beckenham Kent BR3 5PF 31 May 2021 **Page 2** ## **Alleyn Benevolent Fund** ## **Registered Charity Number 1075579 Statement of financial activities including Income & expenditure account for the year ended 31 July 2020** **----- Start of picture text -----**
Year to 31 Year to 31
Notes July 2020 July 2019
5
£ £
INCOME
General Fund 2
Receipts under gift aid 70 745
Donations 29,080 565
Interest/dividends on stocks 5,381 5,234
Net/gross interest on deposit account 29 35
Edward Alleyn Club subscriptions (increased to 20% in 2018) 6,035 5,618
Pimm’s Tent (2019 takings of £2,920 received 29 August 2019) 2,920 0
Total General Fund 43,515 12,197
Pupil Support Fund 2
Alleyn’s Parents' Association 0 5,500
Alleyn's School 18,000 18,000
TOTAL 61,515 35,697
EXPENDITURE
General Fund
Incledon Bursary 4,633 6,617
Fenner Bursary 4,633 6,617
Total General Fund 9,267 13,234
Pupil Support fund 3,385 9,340
TOTAL 12,652 22,574
Excess of income over expenditure
General Fund 34,248 (1,037)
Pupil Support Fund 14,615 14,160
Excess of income over expenditure 48,863 13,123
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**Page 3** ## **Alleyn Benevolent Fund** ## **Registered Charity Number 1075579** ## **Statement of Financial Position as at 31 July 2020** **----- Start of picture text -----**
Notes 31-Jul-20 31 July 2019
£ £
Investments 3 65,053 65,053
Current assets
Cash at bank 4 93,388 44,525
Net Assets 158,441 109,578
Total excess income over expenditure 48,863 13,123
Reserves Brought Forward 109,578 96,455
Reserves Carry Forward 158,441 109,578
ALLOCATION OF ASSETS
General Fund 128,945 94,697
Pupil Support Fund 29,496 14,881
158,441 109,578
(1)
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The accounts on pages 1 to 3 were approved by the Trustees of the Alleyn Benevolent Fund on 31 May 2021and are signed on its behalf by: **----- Start of picture text -----**
Chairman
Treasurer
**----- End of picture text -----**
**Page 4** ## **Alleyn Benevolent Fund** ## **Registered Charity Number 1075579 Notes to the accounts for the year to 31 July 2020** ## **1. Statement of compliance** The accounting policies applied by the Fund in these financial statements are the same as those applied by the Fund in its financial statements as at 31 July 2019. ## **2. Accounting policies** ## **Basis of preparation** The accounts have been prepared under the historical cost convention. Income and expenditure is accounted for on a cash basis recording transactions for revenue and expense only when the corresponding cash is received or payments are made. ## **Fund Accounting** The Fund is split between a General Fund and the Pupil Support Fund. The General Fund derives its income from donations and dividends/ interest from investments held by the Fund. The income is used to provide two bursary awards which allows two or more pupils to remain at Alleyn's School in the 6th form to complete their A level studies. The Pupil Support Fund derives its income from contributions made by the Parents' Association of Alleyn's School and by Alleyn's School. This income is used to provide financial assistance to the pupils of Alleyn's School for specific purposes, such as paying for school trips or for music lessons. . |**3. Investments at cost**
Charifund Income Units
As at 31 July 2020 - 6,482.468 units market value £80,873.97
As at 31 July 2019 - 6,482.468 units market value £103,467.97
**4. Bank accounts**
Current Account - Barclays
Higher rate deposit account - Barclays|**31-Jul-20**
£
65,053
65,053
75,565
17,823
93,388|**31-Jul-19**
£
65,053
65,053
26,731
17,794
44,525| |---|---|---| **Page 5**