REGISTERED COMPANY NUMBER: 3899899 (England and Wales) REGISTERED CHARITY NUMBER: 1079285 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 for THE ALTON COLLEGE FOUNDATION B20 Limited Chartered Certified Accountants Charwell House Wilsorn Road Alton Hampshire GU34 2PP
THE ALTON COLLEGE FOUNDATION Colltents of the Financi81 Statements for the Year Ended 31 March 2024 Page Report of the Trustees I to 2 Independent Examiner's Report Statement of Financial Aetivities Balance Sheet Notes to the Financial Statements 6 to 10 Det8iled Statement of Finaneial Activities li
THE ALTON COLLEGE FOUNDATION Report of the Trustees for the Year Ended 31 MAreh 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The principal activity of the company is that of advancing the education of students attending HSDC Alton (formerly Alton College), by providing or assisting in the provision of equipment and facilities, and to support such charitable purposes as are connected with the College as the Directors shall detennine. ACHIEVEMENT AND PERFORMANCE Charitable activities The Foundation offers scholarships in a wide range of subjects to first year students and from 2016 has been awarding prizes for second year students in the autumn term. During the year we welcomed two new sponsors. Mr Christopher Veal, himself a scholar having been awarded the Chairman's scholarship for 'Excellence in Business, in 2012, funded a scholarship in Law. The Alton Society funded two scholarships for 'Excellence in Creative Writing,. one of which was in memory of the late Nicky Br£tnch. In January 2024 we were pleased to return to in person interviews and added a further 23 Scholars to our growing list, now totalling 420. The aptK)intment of 23 scholars in a wide range of subjects continues to illustrate the exceptionally high quality of those finally selected candidates. The award ceremony, held on 6 March 2024, was a great opportunity for scholars and sponsors to meet in person and celebrate their achievements together. In addition to the award of scholarships we were pleased to be able to support a number of students at the College this year through the Student Support Fund. The trustees were pleased to welcome Mrs Rosemary Andreae to the board in October 2023 who has a wealth of experience to bring to the board and its decision n]aking and planning for the future. Continuing to recruit Sponsors is vitally important to us and we were very pleased to welcome our new sponsors this year and will continue to encourage organisations and individuals to support our work in the year to come, particularly focusing on our growing number of alumni. During the year we have successfully applied for several grants to help us purchase equipment for the College and cover some of our administrative expenses. These include a grant from the FatFace Foundation which fuThded two ne, sewing machines for the College and a grant from Eagt Hampshire District Councillor Barbara Tansey which helped cover some of the costs of the annual 'Awards for Excellence, evening held in March. In addition we have registered the Foundation as a beneficiary of both the East Hampshire District Council run Community Lottery and the EasyFundraising Platform in the hope that they will form small revenue sources to cover administrative expenses. More inforniation can be obtained from our website at www.altoncollegefoundation.org.uk or telephone- 01420 592208. FINANCIAL REVIEW Reserves policy In October 2021, the Directors drafted and approved a reserves policy. The Directors agreed the level of the reserve should be £8,000. FUTURE PLANS The Board of Directors remains focused on ensuring the Foundation evolves and grows to enable it to respond to the challenges faced by the College and students in a post pandemic era which we know has been and remains a challenging time for everybody in the education. In the forthcoming year we will redouble our efforts to raise funding to ensure we are able to support students and importantly our kMIniStration costs, which although controlled, have been impacted by a loss of some Sponsors. Page I
THE ALTON COLLEGE FOUNDATION Report of the Trustee5 for the Year Ended 31 March 2024 STRUCTURE, GOVERf4ANCE AND MANAGEMENT Governing document The company is limited by guarantee and is also a registered charity. Included in the Memorandurn & Articles is a special resolution stating that there must be a minimum of three Directors, and a maximum of eleven, of whom one may be nominated by Alton College. The Memorandum Articles of Association govem the charitable company. The Directors rneet at least four times a year. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 3899899 (England and Wales) Registered Charity number 1079285 Registered office HSDC Alton Old Odiham Road Alton GU34 2LY Trustees T Heley M Frank¢l M Baker P Wilson RN Baird R Andreae (appointed 12.10.23) Company Secretary Independent Examiner B20 Limited Chartered Certified Accountants Chaell House Wilsom Road Alton Hanipshire GU34 2PP Approved by order of the knard of trustees on .... ..... L o l.¥....... and signed on its behalf by.. Trustee Page 2
Independent Examiner's Report to the Trustees of THE ALTON COLLEGE FOUNDATION Independent examiner's report to the trustee5 ofTHE ALTOP4 COLLEGE FOUNDATIOP4 ('the Company,) I report to the charity trustees on my e.¥amination of the accounts of the Company for the year ended 31 March ?024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance ivith the requirements of the Companies Act ?006 ('Ihe 2006 Act,). Having satisfied myself that the accoun15 of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of Tny cxarnillalion of your charity's ac¢ounts as carried out under Section 145 of the Charities Act 2011 ('Ihe 201 l Act,). In carrying out mv examination I have followed the Directions given by ihe Charity Commission under Section 145(5) (b) of the 201 l Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of ihe ?006 Act; or rhe accounts do not accord with those records. or the accounts do not comply with the a¢counting requirements of Section 396 of the 2006 Acl other than any requirement that the iccounis give a true and fair view which is not a matter considered as part of an iiidependent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable lo charities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in Ilie UK aiid Republic of Ireland (FRS 102)}. I have no concerns and have come across no other matters in connection with the examination to whicl) attention should be drawn in thi5 report in order lo enable a proper understanding of the accounts to be reached. Caroline Scull FCCA B20 Limited Chartered Certified Accountants Charwell House Wilsom Road Alton Hampshire GU34 2PP Date-. Page 3
THE ALTON COLLEGE FOUNDATION Statement of Fillancial Aetivities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total runds Unrestricted fund5 Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 8,329 16,854 25,183 20,582 EXPENDITURE ON Charitable activities Scholarship awards 13,900 13,900 14.940 Student Support award 1,534 1.534 1,323 Other 8,109 8,109 7,806 Total 9,643 13,900 23,543 24,069 NET INCOMEI(EXPENDITURE) Transfers between funds (1.3 14) 3.346) 2,954 3,346 1,640 (3.487) Net movement in funds (4,6601 6,300 1,640 (3,487) RECONCILIATION OF FUNDS Total fund5 brought forward 13,645 13.645 17.132 TOTAL FUNDS CARIUED FORWARD 8,985 6,300 15,285 13,645 The notes form part of these financial statement5 Page 4
THE ALTON COLLEGE FOUNDATION Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted funds Restricted fund Notes CURREIYT ASSETS Cash at bank 8,985 6.300 15,285 13,645 NET CURRENT ASSETS 8,985 6,300 15,285 13,645 TOTAL ASSETS LESS CURRETr4T LIABILITIES 8,985 6,300 15,285 13,645 NET ASSETS 8,985 6,300 15,285 13,645 FUNDS Unrestricted funds Restricted funds 8.985 6,300 13,645 TOTAL FUNDS 15,285 13,645 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charitable cornpany keeps accounting records that comply with Sections 3 86 and 387 of the Companies Act 2006 and preparing financial statements which give a true md fair view of the stats of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otheiSe comply with the requirements of the Companies Act 2006 relating to financial statements, 80 far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the srnall companies regime. Inancial statements were approved by the Board of Trustees and authorised for issue on .L.g..l.*......... and were signed on its behalf by: Trustee The notes form part of these financial statements Page 5
THE ALTON COLLEGE FOUNDATION Notes to the Finallcial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the fancIal statements The financial st&tements of the charitable company, which is a public benefit entity under FRS 102, have been prepared ITh accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preplThg their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of li'eland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All inconie is recognised in the Statement of Financial Activities once the charity has entitlernent to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and ha5 been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject lo conditions M,hich have not been met at the year end date are noted as a Commitment but not accrued as expenditure. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting UnrestrRcted funds can be used in accordance with the charitable objectives at the discretion olthe trustees. Rests'icted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions ar18e when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. TRUSTEES, REMUNEIL4TION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no 31 March 2023. trustees, expense5 paid for the Ye ended 31 March2024 nor for the year ended Page 6 continued...
THE ALTON COLLEGE FOUNDATION rqotes to the Financial Statements - Colltillued for the Year Ended 31 March 2024 STAFF COSTS The average monthly number of employees during the year was as follows.. 31.3.24 31.3.23 Administration No employees received emoluments in excess of £60.000. COMPAIUTIVES FOR THE STATEMENT OF FINANCtAL ACTIVITIES Unrestricted fund5 Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 8,053 12,529 20,582 EXPENDITURE ON Charitable activities Scholarship awards 14,940 14,940 Student Support award 1.323 1,323 Other 7,806 7,806 Total 9.129 14,940 24,069 NET INCOME/(EXPENDITURE) Transfers between funds (1,076) (2,411) 843 (3.487) Net movement in funds (1,919) (1,568) (3,487) RECONCILIATION OF FUNDS Total funds brought forward 15,564 1.568 17,132 TOTAL FUNDS CARRIED FORWARD 13,645 13,645 Page 7 continued...
THE ALTON COLLECE FOUNDATION Note5 to the Financial Statements - continued for the Year Ended 31 Mareb 2024 MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted fund5 General tund 13,363 {3.408) (3,346) 6,609 Student Support Fund 282 2,094 13,645 (1,314) (3,346) 8,985 Restricted fulld5 Scholarship Fund 2,954 3,346 6,300 TOTAL FUIYDS 13,645 1,640 15,285 Net rnovement in fund8, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 4,701 (8,109) (3,408) Student Support Fund 3,628 1,534 2,094 8,329 (9.643) (1.314) Restricted fullds Scholarship Fund 16,854 (13,900} 2,954 TOTAL FUNDS 25,183 23,543) 1,640 Comparatives for movemellt in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted fuJ)ds General fund 15,564 (1,358) (843) 13,363 Student Support Fund 282 282 15,564 (1,076) (843) 13,645 Restricted funds Scholarship Fund 1,568 (2,411) 843 TOTAL FUNDS 17,132 3,487) 13,645 Page 8 continued...
THE ALTON COLLEGE FOUNDATION Notes to the FinAncial Statements - continued for the Year Ended 31 Mareh 2024 MOVEMENT IN FUNDS- Continued Comparative net n]ovement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Ullrestricted funds General fund 7,003 (8,361) (1.358) Student Support Fund 1,050 (768 282 8,053 (9,129} (1,076) Restricted funds Scholarship Fund 12,529 (14,940) (2,411) TOTAL FUNDS 20,582 24,069) 3,487) A current year 12 rnonths and prior year 12 months combined position is as follows.. Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 15,564 (4,766) (4,189) 6,609 Student Support Fund 2,376 2,376 15,564 (2.390) (4.189) 8,985 Restrxcted funds Scholarship Fund 1.568 543 4,189 6,300 TOTAL FUNDS 17,132 1,847) 15,285 Page 9 continued...
THE ALTON COLLEGE FOUNDATION Notes to the Finallcial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 11,704 (16,470) (4,766) Student Support Fund 2,3021 2,376 16,382 (18,772) (2,390) Restricted funds Scholarship Fund 29,383 (28,8401 543 TOTAL FUNDS 45,765 47,6121 1,847) RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 3 1 Mareh 2024. Page 10
THE ALTON COLLEGE FOUNDATION Detailed StAtement of FinaneiAI Activities for the Year Ended 31 M%rch 2024 31.3.24 31.3.23 IIYCOME AND ENDOWMENTS Donations and legacies Scholarship donations Gift aid Other donations 16,854 12,527 3,467 4,588 8,329 25,183 20,582 Total incoming resources 25,183 20,582 EXPENDITURE Charitable activities Student support payments Scholarship payments & prizes 1,534 13,900 1,323 14,940 15,434 16.263 Support eosts Governance costs Wages Administration expenses 5,972 2,137 6,568 1,238 8,109 7,806 Total resources expended 23,543 24,069 Net incomel(expenditure) 1,640 3,4871 This page does not form part of the statutory financial statements Page 11