REGISTERED CHARrrY NUMBER: 1098041 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR ThE YEAR ENDEO 31 AUGUST 2025 FOR THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST Mccabe Ford Williams Chartered Accountants Invicla Business Cent Monument Way Orbital Park Ashford Kent TN24 OH8
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Pag• Referenco and Administrative Details Report of the Truslees Independent Examinerfs Repgrt statement of Financial Actlvl¢le$ Balance Sheet Notes to the Flnancial Statements 7 to 10
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2025 TRUSTEES D Harris I$19n¢d 26.11.251 Ms J Tumer R Billings P Cartgr lappoinled 11.2.261 PRINCIPAL ADORESS Towers School & Sixth Fomi Centre Faversham Road Kenninglon Ashford Kent TN24 9AL REGISTEREO CHARITY NUM8ER 1098047 INDEPENDENT EXAMINER Mccabe Ford Williams Chartered Accountants Invicta 8usiness Centre Monument Way Orbital Park Ashlord Kent TN24 OHB BANKERS National Westrninster Bank PLC 20 High Slr8et Ashford Kenl TN24 8SH Pa9e 1
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 The trustees present U)eir report with the finanual stalem8nts of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of Accounts"ng and Reporting by Charities.. Stslemenl of R8commended Practice applicable lo charities preparing their accounts in accordan with thè Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The goveming document of Ihe unineorporatèd charfIab Trust. a trust deed dated 19 September 2001, provid85 that th8 ¢)bject of the trust shall be to advance the education of the pupils of the Towers School. Faveisham Road. Kennington. Ashford, K8nt by providing or assisting in the prowsion of 8ducalional, recreational and other charitable facilities in augmentstion of such facilitie5 financed by the Local Education Authonty orthe Department lor Edu¢ation and Employrn8nt Ir8narned the Department for Education sinc8 the deed was prepaiedl. Since 1 April 2011 the Tower5 School has been operated as an arademy by a cornpany limited by guarantee, Towers Schocl Academy Trust. Publ1¢ bonefft The Charitable Trust enhances the education of the pupils ol the Towers School, Faversham Road. Kennington, Ashford, Kent, by, for 8xample, facilitating the provlsion of journeys, day trips and activiti8s. The Charitable Trust invites donations toward$ its charitable activities from parent5, carers and third parties. This in turn enables the school itself to maximise the use of its own resour$ which are primarily sourced from public furbds. The Trustees confirm that th8y have had due rogard for the Charity Commission guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE Charitable activities The trust continued to provide facili118S to the pupils of the Towers School in accordance with ils obje¢l. Income resources in the year totalled £103.593 including £95.505 of donatlOn5 and contributions rnainSy frorn parents and Car$ to school journeys, aclivities and day visits. A donakn'on of £10,000 was received durin9 the year ended 31 August 2011 which the donor specffied is to be used lo generate incom9 to tund, in p8rp8tuity, an annual award. the Carol Webb Memorial Award, for the best-performing Sixth Fomi student of the school. The donor specified that the amount of the dona110n. together with any related tax repayment io be r8ceived by the Charitable Trust under GiftAid, is to b8 held a5 pertnanent endowm8llt. Resources expended iotall8d £113,966 including £110,014 of expenditu in respect of school journeys. a¢tivities and day FINANCIAL REVIEW Reserv85 The trust had fAsh rasarves at 31 August 2025 of £105.70212024.. £82.7471. The trust rnaintains suffiThont eAsh resèrvas to meet its comrnilments and expense5. STRUCTURE. GOVERNANCE AND MANAGEMENT Govomlng document The charity is controlled by its goveming document. a deed of tnjst and constitu18s an unincorporated charity. Organisational Structure The trust d88d slates that thè Iruslees shall all be individuals holding certain positions within the governing body or staff tsl the Towers School. If for any reason it is Possible for trustees lo hold office on that basis. the statutory power of appointing new or additional tsustees shall be exercisabl8. Day-to-day management ol the Charitable Trust is delegated by the Iruslee5 to the finance officers on the staff of the school. The trustees are responsible for the matters detailed in the Stslem8nt of Respon5ibiliti8s of th8 Trust6es. Risk managernent The trustees have a duty to identify and review the risks to which the charity is exposed and lo ensre appropriate oJntrcAs are in plats to provide reasonable assuranc8 against fraud and error. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees 2nd the finanual ststements In accordance wth applicable law and Unrtad Kingdom Aceountlng Standards (United Kingdom Generally A(Kept9d Ac(x)unts'ng Practice). Page 2
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES - continued Charily law requir85 the trustees lo prepare financial ststements for each finanual year. Under that law. the trustees have elected to prepare the financial statements in aordanCe with United Kingdom Generally Accepted Accounting Practice (United Kingdorn Ac(x>unting Standards and applicable lawl. Under charity law the trustees must not approve the financial statements unl855 they are satisfied thatthey give a tne and fair vlew of the state of affairs of the charity and ol the incoming resources and application of resou$. including tha income and expenditure. ol the charity for that period. In preparing those financial statements. the trustees a quired to select Suitab accounting policies and then apply thèrn consistentty- observe the methods and principle5 in the Charities SORP.. make judgement5 and eslimales that a reasonabb and prudent., prepare the financial statements on the going eoncem basis unless it is inappropriate to presume that the charity wll conb'nue in business. The trustee5 are r85ponsible for keeping proper accounts records which disclose with reasonable acwracy at any titnè th8 financial position of the Charity and to en8ble them to ensure that the financial staternenls comply wth the Chariti&s Act 2011 and Th count5 and Reports) Regulats"ons 2008. They are also responsible for safeguarding the assets ol the chari nd hence for ta g reasonable st8ps for the prevention and ¢Jeleelion of fraud and other irregularities. &...1.Y.. 204...... and signed on its beha by.. Approve by order of th8 bo of trustees on . R Billings- Trustee Page 3
INDEPENDENT WMINER'S REPORT TO THE TRUSTEES OF THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST Indepgndent examiner's report to the tru$¢e¢$ of Tower$ S¢hool Voluntsry Fund I report to the charity twslees on rny exarnination of the accounts of Towers School Voluniary Fund Ithe Trust) forthe year ended 31 August 2025. Responslbllltl¢$ and ba$1$ of report As the charity trustees of the Trust you are responsible for the preparation of the aOUnt$ in accordance with the requirements of the Ch8rilies Act 2011 I'the Act'l. I report in respect of my examination of the Trust's accounts carrie(S out under Section 145 of th8 Act and in carrying out rny examination I have followed all applicable Directions given by the Charity Cornmission under Section 14515llbl of the Act. Independent examiner's statement I have CoMpted my examinallon. I confirm that no material matters have come to my 8tt8llti in connection with the exarninab.on giving rne cause lo believe that in any material resp8cI.. accounting cOrdS We not kept in SpeCt of the Trust as wuired by Section 130 of the Act., or the accounts do nol aecord with thos8 records", or the accounts do not comply with the applicable reqU1ments conceming the fomi and content ol acwunt5 set out in the Charili&s IAc¢ounls and Reportsl Regulations 2008 other than any requirement Ihal the accounts giv8 8 true and labr vSew Is not a mattereonsidered as part of an independent examination. I have no cOnM$ and have come across no other matters in eonneetion with Ihe exarnination to which att8ntion should be drawn in this report in order lo enable a proper understsnding of the accounts to be reached. Mark Gr8ènwood FCA Mccabe Ford Williams Chartered Accountants Invicla Business Centre Monument Way Orbital Park A5hford Kent TN24 OHB 1410512026 Pa99 4
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 2025 Total funds 2024 Total nds Unrestricted fund Restrrcted funds Endowment fund Notes INCOME AND ENDOWMENTS FROM Don31ions and legac$ 99.354 419 99.773 109,790 Investment income Other income 1,300 2,028 492 1,792 2,028 233 5,356 Totsl 102682 911 103.593 115,379 EXPENDITURE ON Raising funds 115 115 1.967 Charitable activities Charitabl8 adivities ?13.092 545 113.637 103,976 Other 214 214 326 Total 113,207 759 113,986 106,269 NET INCOMEIIEXPENDITUREI 110,5251 1S2 110.3731 9,110 RECONCILIATION OF FUNDS Tot81 ftjnds brought forward 29,120 39,409 12,821 81,350 72,240 TOTAL FUNDS CARRIED FORWARD 18,595 39.561 12.821 70,977 81,350 The notes form part of these financAal ststements Page 5
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST BALANCE SHEET 31 AUGUST2025 2025 Total fund5 2024 Total funds Unrestricted fund Reslricled fvnd5 Endowm8nt fund Notes CURRENT ASSETS Deblors Cash al bank 4.590 53.320 4,590 105,702 39,561 12.821 82,748 57.910 39,561 12.821 110,292 82,748 CREDITORS Amunls falling du& withSn one year 139.3151 139.3151 11,3981 NET CURRENT ASSETS 18,595 39.561 12.821 70,977 81,350 TOTAL ASSETS LESS CURRENT LIABILITIES 18.595 39.561 12,821 70.977 81.350 NET ASSETS 18,595 39.561 12,821 70.977 81.350 FUNDS Llnreslricted funds Restricted funds Endowment funds 18.595 39,561 12,821 29.120 39.409 12,821 TOTAL FUNDS 70,977 81,350 The fin an I statements were approv8d by tha Board of Trustees and aulhorised for issu8 on.. igned on ils behalf by.. re rustee Th8 no18s form part of these financial slatem8nls Page 6
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES Basls of preparlng the finan¢lal statements The financial statements of the charity, which is a publlc bènefit entity under FRS 102. have been prepared in acwrdanc8 with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalement of Recommended Piactice applicable lo charities preparing their accounts in accor(lance wlh the Financial Reporting Standard spplicabl8 in the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191,. Finan¢ial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financkql statements have been prepared under the historical w5t convention. The accounts are Pents in st8ding whl¢h is th8 functional currency of the charity. Incorne All income is recognised in Ihe Statement ol Finanoal Activities On the charily has entillemont to the funds. It is probable that the incorne will be 1Ved and the arnount can b6 m8asured llabty. The f(lOWIng $pecifi¢ polici8s are applied to particular categor$ of incorne.. Income from donations and grant5, includin9 capital grants, is included in incomin9 resour when these are receriable. When the conditions attached to 8 grant are mel, and the charity has reasonabl8 assurance that th8 granl will be reiVed they a recognised in income . Wher8 a grant is un¢ondition81 then the charity recognises the grant in in(x)me Nthen it is rec8Natde. If a grant Is 1Ved before the condrtions attached to il are salisfiad, the gr8nl is re¢ognised a5 a liability, and only released lo incorne once the c(dItionS a met. Inc()me Irom charitsble activities includes income recognised as eamèd las the related goods or 5eNice3 a provkledl under contract. Other income is accounted for on a receivable basis. Expendlture Liabili1185 ar8 recognised as exp8nditure as soon as there 15 a legal Of constructiv8oblKJation tomrnitting th8 ¢harity to that expenditure. it is probable that a transfgr of economic benefits will be required In settlement and the amount of the obligation can be measured rel'ably. Expendrture is accounted ftsr on an accruals basis and has b88n classified under headings that aggregate all cost related to the category. Wher8 costs cannot be directly attributed to particu12r headSngs they have been allocated to activitigs on a basis Consistent wth the use of resour$. Olher 8xpenditu comprises payments the charity make5 from $tricted fLnds to other Charitab enli'e$. as instructed to do by those providing such donats'ons. Taxatlon The charity is exempt from tax on its charhabla activitigs. Fund accountlng Unreslricled funds can b8 used in accordance with the charitable objectives at the diser8tK)n of the trustees. Rastricted funds can onty b8 used for particular re5trict8d purposes within the objects of the charity. Restiicb"ons 8rise when specified by the donor or when funds are raised for parbcular $tricted purposes. The charity has one endowment. the Carol Webb Memorial Fund. The donor specified that it to be used to generate incorne to fund. in perpetuity, the Carol Webb Memorial Award for the best-performing Sixth Forrn student at the school. The donor specified that this be held a5 a permanent endowrfient. Any income d8rived from the endowrnent is treatad as r8stricled. Further explanatSon of th8 nature and wrposè of 88th fund is Sncluded in the notes to the financial statements. Financial instruments The tharity only has financial assets and financial liabilities of a kirO that qualify a5 basic financial instrumènts. Basic financial instruments are initially regniSed 81 tr8nsa¢tion value and subsequently measured al their settlement value. Page 7 conlinued...
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST2025 INVESTMENT INCOME 2025 2024 Deposit account interest 1,792 233 TRUSTEES. REMUNERATION AND BENEFITS The were no trustees. remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024. Trustse$' oxpanses Th8r8 W8r8 no trust8ès' 8xn$•$ paid forlhè yèarended 31 August 2025 norforth8yèar8ndèd 31 August 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A¢TNmES Unrestricted Restricted fund funds Endowrnent fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 109,073 717 109,790 Investment inctsme Other income 233 5,356 233 5,356 Total 114,662 717 115,379 EXPENDITURE ON Raising funds 1,967 1,967 Charltable a¢tfvltlg$ Charitable activities 103.771 205 103.976 Other 326 326 Totsl 105,738 531 106,269 NET INCOME 8,924 186 9,110 RECONCILIATION OF FUNDS Total funds brought forward 20.196 39,223 12,821 72,240 TOTAL FUNDS CARRIED FORWARD 29,120 39.409 12,821 81,350 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 PpayMentS 4,590 Page 8 continued...
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢onllnu•d FOR THE YEAR ENDED 31 AUGUST 2025 cREDORS. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Oth8r cr8ditors 39,315 1,398 MOVEMENT IN FUNDS Nèt movement in funds At 31.8.25 At 1.9.24 Unrestrlcted funds General lund 29.120 110.5251 18,595 Restllded funds C Webb Memorial G Croft Fund General Fundraislng K Thakar Award Student Welfare Young Leader5 268 4.711 191 285 1,187 32,767 750 4.711 191 270 900 1151 12871 28 39,409 152 39,561 EndowTnent funds C Webb Memorial 12,821 12.821 TOTAL FUNDS 81,350 10,3731 Nel rnovemenl in funds. included in the above are as Idlows". Incoming resources Resourc8S expend8d Movement in funds Unrestricted funds General fund 102,682 1113,2071 110,5261 Restricted funds C Webb Memorial General Fundraising K Thakar Award Student Weffa Young Leaders 697 214 12151 12141 1151 12871 1281 482 12871 1281 911 759 152 TOTAL FUNDS 103.593 113,966 10.3731 Pag8 9 conb'nued...
THE TOWERS SCHOOL VOLUNTARY FUND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnuod FOR THE YEAR ENDED 31 AUGUST 2025 MOVEMENT IN FUNDS- ¢ontlnued CompaAtlv•s for movement in funds Nat rnOV8ment in funds At 31.8.24 At 1.9.23 Unr85trlctod funds Genera1 fund 20,196 8.924 29,120 R8Strict8d fund$ Re$trici8d fund 39,223 186 39,409 Endowment funds C Webb M8mori81 12.821 12,821 TOTAL FUNDS 72,240 9,110 81,350 Comparabv8 nel movem8nt in funds, included in the above are as follows.. Incoming sources Resources expended Movement in fund5 Unrestrfcted funds General fund 114.662 1105.7381 8,924 Re$tri¢ttd funds Re81rictgd fund 717 15311 186 TOTAL FUNDS 115379 106.2691 Restricted funds represent amounts ceiVed from certain donors whh are to be used for spedfic purposes, namely encouraging and enabling leadership opportunits.es for students ol the Towers School, the generation of income to fund Pre$ lor outstanding students and as donation5 for the Iru5te8s lo forward lo other eharibe8. The pemianent endowment is the Carol Webb Metnorial Fund. This is lo be used to generate income to fund in perpetuity an annual Award, the C8rol Webb Mernorial Award, for the b83t-p8rfoming Sixth Form sludenl ol the school. RELATED PARTY DISCLOSURES The object of the Charitable Trust is lo advance the education of the pupils of the Tower5 School, Faversharn Road, K8nnington, Ashford, Kent, by providing or assisting in the provision of 8ducational, re¢realional and other ¢harilable fa¢ilities. The trustees delegate day-to-day rnanagernent of the Charitable Trust to the finan offic8rs on the staff ol the school, for which the school makes no charge to th8 Trust. Until 31 March 2011 the Towers Sch(K)I was operated by Kent County Council. Since 1 April 2011 the school has been operate(J as an academy by a company limited by guarantes. Towers School Academy Trust. During the year, Towers School Academy Trusl made donations to the Charblab Trust amounting to £1,39812024 £1,332). Page 10