## **The Ashford Grammar School Endowment Trust Trustee’s Annual Report**
|CharityName|Ashford Grammar School Endowment Fund|
|---|---|
|Registered charitynumber|307842|
|Charity’s Principal Address|The Norton Knatchbull School
Hythe Road
Ashford
Kent
TN24 0QJ|
|Bank|Lloyds Bank plc
81 High Street
Ashford
Kent
TN24 8SS|
## Members Register
## **EX OFFICIO**
|Name|Byvirtue of|
|---|---|
|Michael-John Knatchbull|Ownershipof the Mersham Hatch Estate|
|Ben Greene|Headteacher of the School|
## **NOMINATED TRUSTEES**
|**Name**|**Nominated by**|**First appointed**|**Term of Office**|**Term end**|
|---|---|---|---|---|
|Philip Sibbald|Parochial Church Council
(“the PCC”) of the
Ecclesiastical Parish of
Ashford Town|11th November 2020|4 years|10th November
2024|
|David Race|The Owner of the
Mersham Hatch Estate|28th September 2021|4 years|27th September
2025|
## **TRUSTEES APPOINTED BY THE TRUST BOARD**
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Name First Appointed Term(s) of Office Term end
Richard Fraser 3 [rd] March 1999 Extended by further 2 [nd] March 2023
(Chair) terms of 4 years
Simon Hallam 6 [th] November 2014 Extended by a further 5 [th] November 2022
(Vice Chair) term of 4 years
Jim Small 28 [th] September 2021 4 years 27 [th] September 2025
Vacant
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## Structure, Governance & Management
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Type of Governing Document Scheme revised 16 [th] June 2021, lodged with and approved by the
Charity Commission and adopted at the Trustee’s meeting on 28 [th]
September 2021
Constitution Unincorporated
Trustee Selection Trustees are appointed or reappointed on expiry of their term for
periods of 4 years.
Objectives The provision of items, services and facilities for the Norton
Knatchbull School which are not normally provided out of public
funds
Summary of the main activities The Endowment Trust has provided loans to the school for the
undertaken for the public benefit purposes of enhancing facilities. Current loans are as follows:
in relation to these objects
Sport shall Loan £360,000 over 50 years. No interest. Repayment to
be completed by 1/3/56
Typically, the Endowment trust provides prizes for students, though
none were granted in year.
Statement of the Charity’s policy To hold a basic level of unrestricted funds for the benefit of the
on reserves school; ensuring sufficient funds are available for the Objective and
for Prize giving.
Details of funds materially in None
deficit
Further financial review The main source of funds this year has been the repayment of loans
from the school.
Additionally, £5,000 has been received in respect of school
fundraising.
Future plans To consider applications for funds from the school on their merit and
decide accordingly in accordance with the above-mentioned
Objectives.
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## Declaration
The trustees declare that they have approved the trustee’s report above.
Signed on behalf of the charity trustees
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Signature
R Fraser
Full name Richard Fraser
Position held Chair
Date 21st June 2022
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## Independent Examiner’s report on the accounts
|Report to the trustees of|The Ashford Grammar School Endowment Trust|
|---|---|
|On accounts for theyear ended|31stMarch 2022|
I report to the trustees on my examination of the accounts for the year ended 31[st] March 2022.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the Act)
I report in respect of my examination of the Trust’s accounts carried out under S145 of the Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under s145(5)(b) of the Act
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respects:
- Accounting records were not kept in accordance with section 130 of the Act; or
- The accounts do not accord with the accounting record.
I have no concern and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Signature M Willis
Full name Mason Willis
Relevant professional AAT Qualified
qualification held
Address Academy Finance Ltd, Yew Tree House, 189 High Street, Milton Regis, Kent,
ME102BB.
Date 20 [th] June 2022
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Receipts and Payments Unrestricted Restricted Total Funds
£ £ £
Receipts
Bank Interest 11 11
Fundraising for School 5,000 5,000
Loan Repayments 31,200 31,200
Loan Interest Received 600 600
Total Receipts 31,811 5,000 36,811
Payments
None - - -
Net Receipts/(Payments) 31,811 5,000 36,811
Cash at Bank
Bal bfwd 103,458 103,458
In year movement 31,811 5,000
Bal c/fwd 135,269 5,000 140,269
Fund Balances
Bal bfwd 93,458 10,000 103,458
In year movement 31,811 5,000
Bal c/fwd 125,269 15,000 140,269
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