FRIENDS OF FOLKESTONE ACADEMY LTD
(a company limited by guarantee)
TRUSTEES, REPORT AM) ACCOUN13
YEAR ENDED 31 JANUARY 2023
Company Limited by Guarantee
Company Registration Number 5017884 (England and Wales)
Charity Regislration Number 1103352

FRIENDS OF FOLKESTONE ACADEMY LTD
LEGAL AND ADMtNISTRATIVE INFORMATION
Tru$t¢e$
Sir Roger De Haan CBE DL (Cbairman)
Gralkalll Badnmn CBE
Rosalind Mccartby DL
Trevor Minter OBE DL
Michael Pearce
Trdcy Luke MBE
- Trsign&l 19 July 2023
- resigned I" August 2023
Secretsry Paula Hall
Registered and Principal Office
Strand House
PIlgrIn￿ Way
Monks Horton
Ashford TN25 6DR
Solleltors
Withers LLP
16 Old Bailey
London EC4M 7EG
Bankers
National Westminster Bank plc
37 Old Dover Road
Canterbury cri 3JB
Independent Exwniner
David Boosey
MHA
17-21 Ashford Road
Maidstone
Kent ME14 5DA
Inveslment Manager
Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London EC4M 8BU

FRIENDS OF FOLKESTONE ACADEMY LTD
REPORT OF THE TRUSTEES
The tn￿teeS of the Friends of Folkestone A¢ademy who are also the directors of the
conlpany, present their report together witb the audited fmancial statements for th¢ year
ended 31 Jatluary 2023. The tn￿tee8 confirni that the annual rq)ort and financial
statements of the charity comply vlith a]Trent statutory requirements. the rquirements of
the governing document and the provisions of the Statement of Recommended Prathice
(SORP) "Accounting and Reporting by Charities" applicable to cbarities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
R¢publir of treland (FRS 102).
Constithtion and Principal Objeclives
The Friends of Folkestone Academy Lt¢ a company limited by guarantee and a regisÉ¢red
charity, was established on 16 January 2004 (company number 5017884, charity number
1103352). The Friends of Folkestone Acadetny Ltd is hereafter refetred to &s'*h¢ chariiy,
in th¢5¢ audited financial statements. The charity's Articles of Association are the primary
governing documents. The tTUStees meet as often &q is required to take decisions affecting
the operation ofthe charity. As the charity has no staffj all decisions Telatedto the operation
of the charity are taken by the trustees.
The objects of the cllarity are to advance for the public benefiL education in the Unit
Kingdom including SUPPQrt ofthe aims and objectives of the prinwy and gecondaryphases
of Folkestone Academy, the relief of unemployment. the provision of facilities in the
intu¢st of social welfare, for recreation and other leisure time occupation.
Trustees
TnEStees are appointed by tbe recommendation of the existing tn￿te¢s, subje£t to the
approval of a member of the charity. New tn￿tees, when appointe(L will be provided with
an inforniation pack including the latest a￿oll￿ts and the Articles of Association and will
be afforded the opporttmity to undertake a site visit to the premises of Folkestone Acad¢rny.
The following are the trustees of the Charity:
Sir Roger De Haan
GTaham Badmall CBE
Rosalind Mccarthy
Tr¢vor Minter OBE DL
Michael Pearce
Tracy Luke MBE
- resignd 19" July 2023
- resigned I" August 2023
Roger De Haan and Tracy Luke retire by rotstion and both being eli8ible. a resolution
proposing their re-appointment will be submittoj at the Annual Gener&1 Meet7ng.
All of the trustees are also members of the charity but they hold no beneficial interest
th¢rei
Although no specific ttwtee training programme exists, trustees continue to hav¢ exposure
to educational and charitsblc matters either through their principal occupation andlor
involvement in other charitable institutions.

FRtENDS OF FOLKESTONE ACADEMY LTD
REPORT OF THE TRUSTEES (COIYTINUED)
Members, Liability
Each member of the cllaritable companyundertakes to contribute to the assets of the clwity
in th¢ evcnt of it being wound up while helshe is a member, or within one year after helsh¢
ceases to be a member, sucb amount as n)ay be requirf not exceeding £1. for the debts
and liabilities contracted before hejshe ceases to be a member.
Reserves Policy
The policy of the tn￿tee$ is to maintain a growing level of reserves which underpins th¢
long tern] grdnt-making strategy of the cbarity. At this stage. no specific monetary target
has been set. The trustees are satisfied that the charity's reserves are sufficient for its
Current pun)oses. The reserves as at 31 January 2023 amounted to £3,942.(M)0 (2022:
£4,050,(K)O) of which £1,115.0￿ comprises fixed &8s& funds.
Investment Polley
The tn￿teeS have appointed Sardsin & PaTthers LLP to n￿￿ge the investment portfolio.
Monies are invested in one of Sarasin's Clwity Authorised Investment Funds which is
designed specifically for chariti¢s. The investment objective is to provide long terni capital
and income growth through a broadly diversified global portfolio.
Grant Making Policy
The charity's grant making activity is presently foawed on supporting the prinw and
s¢¢ondary phases of two schools conwising Fojkestone Academy.
OperY4ting Vdnd Financial Review
Net income for the year before investment losses amounted to £29.(KM) (2022: gains
£178.000). The 2023 de£rease. compara to 2022, amse primarily from a significantly
higher donations cost. The chatity T￿e1ved a £66.000 (2022." £69.1￿0) donation from its
trading subsidiary and continued to benefit from rental income arising from its subsidÉary's
occupation of the Marlowe Innovation Centr¢.
The investment portfolio decreased by £60,000 during the year due to a d￿rease in the
nthet value of the charity's investments. however this was partially offset by the
reinvestment Df income. Investment losses amounted to £135,000 (2022: gains £102.000).
reflecting a 4.80/0 fall io Unit pric￿ in the year (2022: rise 4.1 %).
The charity has a wbolly owned subsidiary, FFMA (Trading) Liniited tla 'The Marlowe
Innovation Centre". The subsidiary operates an 'It￿0vatIOn Centre" from premises on a
site adjacent to the Royal Harbour Academy in Ramsgate, Kent. The objective is to attract
young, innovative businesses to the Marlowe IDnovation Centre and to build a close
working relationship between the ￿h0o1 and tenant busitlesses. with the aitn of assisting
in the education of thdents and creatlng employment opportunities in tbe area. Surplus
generated are paid to the parertt cbarity.

FRIENDS OF FOLKESTONE ACADEMY LTD
REPORT OF THE TRUSTEES (CONTThll￿D)
Operating and Financial Review (Continued)
The Marlowe tmiovation Centre (Mtc) continues with efficiently pn)viding versatile
accommodation for small businesses in Thanet and surrounditLg areas. Even with the
challenges it has faced, the centre has successfully managed to maintain very high
occupancy rdtes of between 97 % & lo￿/0 for the year. The easy-io easy-out tenancy has
seen 3 businesses move on to different accommodation in tbe l&st 6 months.
The overall number of viTti￿1 tenants (vr's) bas declined by 2 in the last 6 montbs. one
of which took an office and the otber whose business stopped trading. Back Otyice
setvices are offered to all new tenants. and there are some existing tenants that continue
to make use of the back office services offered by MTC.
Boardroom and meeting room bookings are increasin8 as businesses return to nonnality
since the covid pandenlic. The centre benefits from many boardroom referrals and
excellent fcedbaok from users.
Social media platforms tend to be the only rnarketing tool used to advertise the offerings
available at The Marlowe Innovation Centre which is both effective and at Dil eost. Word
of mouth referrals are also very commo
The Marlowe ttmovation Centre is worknng on ways to reduce the impact of the energy
crisis and increased ￿ergY bills on the centre in tbe foreseeable futhtre.
The Marlowe Innovation Centre continues to welcome students from the Royal Hathour
Academy and other local schools for work experience and other activities alongside
businesses within the centre where possible.
Publit Benefit
The charity's grant makin8 activity has been f￿USed on supporting the aims and objectives
of the Folkestone Academy. The principal way in which this has been aw)mplished has
been through payment of direct charitable grdllts to fimd initiatives not funded by the
school's mainstream government grants. The tn￿tee5 have considered the impact of the
public benefit requirenlent including the guidance issued by the Charity Commission.

FRIENDS OF FOLKESTONE ACADEMY LTD
REPORT OF THE TRUSTEES (coNfINUED)
Risk Management
The trustees bave examined the n￿jOr strategic, business and operational risks which th¢
charity faces and have put in plac¢ systems. policies. procedures alld controls in order to
nwlage and mitigate these risks. Where appropriate, the trustees will act only after taking
appropriate professional advice. The main risk faced by the clwity relates to investtDent
risk on its portfolio. This risk is mitigated by investing all th¢ charity's surplus fimds in a
reputable diversified investment fund designed exclusively for Charities.
Statement of Trustees, Respon$ibiliti¢s
The trustees (who are also directors of Friends of Folkestone Academy Ltd forthe PUTpose5
of cotllpany law) are responsible for preparing the trustees. report and financial statements
in accordance with applicable law and United Kingdom Accounling Standards (United
Kingdom Generally Accept￿ Accounting Practice).
Company law r4uires the trustees to prepare financial statements for each financial year
which 8ive a true and fair view of the stale of affairs of the charity and of the incoming
resources and application of resources. including the income and expenditure. of the charity
for that period. In PTepaTing these financial statejnents, the trustees are required to:
selecl suitsble acox)untitig EK)licies and then apply them consistently.
observe the methods and principles in the Charities. SORP"
make judgements and estimates that are T￿Onable and prudent.
stste whether appIicable United Kingdom Accounting Standards have been followed,
subject to any material departures di￿lOSed and explained in the financial statements;
prepare the fi[w￿la1 statements on the going concern basis unless it is inappropriat¢ to
presume that the charitable company will continue in operatio
Th¢ trustees are responsible for keeping proper accounting records that dis¢lose with
reasonable accurd¢y at any tirne the financial position ofthe charitsble company and enable
them to ensure that the financial statetnents comply with the Companies Act 2006. They
ar¢ also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the preverAtion and delection of fraud and other irregularities.
Each of the knjstees confirn]s that:
so far as the tn￿te¢ is aware. there is no relevant audit infornthtion of which the
charitable con]pany's auditor is unaware. and
the tru51ee has taken all the steps that ought to have taken as a ttustee in order to be
awaTe of any relevant audit inforniation and to establish that the charitable company's
auditor is aware of that inforniation.

FRIENDS OF FOLKESTONE ACADEMY LTD
REPORT OF THE TRUSTEES (CONTINUED)
In preparing ihis report the trustees have taken advantage of the small companies
exemptions provided by section 415A of Part 15 of the Companies Act 2006.
The report of the trustees was approved by the t￿SteeS on ￿ I i 0 and
si
n their behalf by..
Sir Roger De Haan
Trustee
Registered 2nd Principal Office
Sirand House
Pilgrims Way
Monks Horton
Ashford TN25 6DR

FRIENDS OF FOLKESTONE ACADEMY LTD
Independent examiner's report to the trustees of Frlends of Folkestolle Academy
Ltd ('the Company
I report to the charity Trustees on my examination of the a¢¢outsts of the Company for the
year end¢d 31 January 2023.
Responsibilities and basis of report
As th¢ Trustees of the Company (and its directors for the pu4)oses of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of
the Companies Act 2006 (%h¢ 20(h5 Ad).
Having satisfied myself that the accounts of the Company are not required to be audited
under Part 16 of the 2006 Act and are eligible for iDdependeDt examinatio￿ I report in
respect of my examination of the Compangs accounts carried out under section 145 of
tbe Charities Act 2011 ('the 2011 Act?. In carrying out my eXa￿l￿atiOn I have followed
the Directions given by the ChaTity Commission under section 145(5)Ib) of the 2011 Act.
Independent examiner's statement
I have CO￿pIeted my exarnination. I confirni that no matlets have come to my attention i
connection with the examination giving me cause to believe:
. accounttng records were not kept in respect of thc Company as requir￿1 by sethion 386
of the 2006 Act. or
2. the accounts do not accord with those records" or
3. the accounts do not comply vlith the a￿oUntIng requkrements of section 396 of the
2006 Act other than any requirement that the accounts give a'ttue and faiv view which is
not a matter considered as part of an independent examIntho￿ or
4. the accounts have not been prepared in accordance with the methods and Principles of
th¢ Statement of Recomn)end￿ Practice for accounting and reporting by charities
[applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other nmtters in cornection with the
examination to which attention should be dra￿￿ in thls report in order to enable a Proper
understanding of the accounts to be reached.
This report is made solely to the Companys Tn￿tee5, as a body, in accordance with Part
4 of the Charities (Accounts and Reports) RegulatioDS 2008. My work h&8 been
undertaken 80 that I might state to the CompanYs Trustees those matters l am required to
state to them in an Independent examinees report and for no other pu￿08e. To the filllest
extent pernlitted by law, I do not accept or assume responsibility to anyone other t1￿1 the
Company and the Companys Trustees as a body, for my work or for this report.
Signed:
David Boosey
MTrL
Maidstone
United Kingdom
Dated: 18 October 2023

FRIENDS OF FOLKESTONE ACADEMY LTD
STATELWIENf OF FINLYCIAL ACTIvrrIEs
FOR THE YEAR ENDED 31 JANUARY 2023
21)23
2023
2023
2022
Restricted
Ujmtricted Fullds Fund
Totsl
Funds
£'ooo
Total
Funds
£iooo
General Asset
Note £'OOO
£'(Joo
£'ooo
Income and endowments from".
Othcr illcome
Investment income
Tot81 in¢ome
75
143
218
75
143
218
75
144
219
415
E￿endItuTe ott:
Raising funds
Charitable a¢tiviti¢s
Support costs
Total e￿enditllre
150
13
163
28
178
13
191
37
28
40
Net Income before Investhient
gaIn￿o0$S¢s}
55
(28)
27
179
Gainsloosses) on investtnents
12
(135)
(135)
102
Net Income
(80)
(28)
{108)
281
Funds bmught forward
2.907
1.143
4.050
3.769
Totsl funds carrfed forward
16
2,827
1,115
3,942
4.050
The notes oll ￿ge$ 9 to 16 form part of these financial statements.

FRIENDS OF FOLKESTONE ACADEMY LTD
(A company limited by gu#r*nteel Registered Number: 05017884
BAI.ANCE SHEET
31 JANUARY 2023
Not¢
31 January 31 January
2023
2022
£'ooo
£'ooo
Flxed Assets
Tangible fixed as5et5
Investmen18
Investment in subsidiary undertaking
10
1.143
2,802
2,704
3,819
3,945
Current a55et$
Cash held by Investmen¢ Manager
Cash at bank and in hand
39
257
296
199
199
Credltors: amounts falling due within one year
14
1173)
194)
Net current assets
123
105
Total assets less current 1Sabllltles
3,942
4,050
Charity FllDd5
Restricted Funds
Fixed Asset Fund
16
1.143
Unrestricted funds
Genetxl Fund
Fixed Asset Fund
16
2,827
2,907
16
3,942
4,050
The trustees consider that the company is entitled to exemption from the requirement to have an audit under the
Provisions of section 477 of ihe Companies Act 2006 {"the Act") and members have not requI￿d the company to
obtain an audit for the year in question in accordance with section 476 of the Act. In accordance with section 145
of the Charities Act 2011 independent examination is required. however. the members have voluntarily opted
to have an audit under the Companie8 A¢1 2006.
The tNstees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting record5 and for preparing financial statement5 which give a tNe and fair view of the State of affairs of
the company as at 31 January 2023 and of its net incoming resources for the year in accordance with the
requiremen18 of sections 394 and 395 of the Act and which oihetivise comply with the requirements of the Act
relating to flnancial statements, so far as applicable io the company.
The fJnan¢tal siatemenis have been prepared in a¢¢ordance with ihe provisions appli¢able io Companies subject io
the small companies regime and in accordance with the provision5 of FRS 102 Section IA- 5Tnall entitie5.
The fLnan¢ial statements were approved by the ttU5tees on 2 OCEOW 2023 and signed on their behalf by..
Sir Roger De Haan (Trustee)
The notes on pages 9 to 16 form part of these financial statements.

FRIEIYDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
l Accounting Poli¢ies
1.1 Basis of Preparation of FinaDcial Statements
Friends of Folkestone Academy Ltd is a registered Clwity and a Company limited by
guarantee, incorporated in England and Wales. Its registered office and principal place of
busin¢55 is dI￿105¢d in the Legal and Administrative Infornuti¢)n.
The financial statements have been prq)ared under the historical cost convention, except
for the valuation of investments which ar¢ Includ￿ at nwket value. and in aecordance
with Accounllng and Reporting by Charities: Statement of Recommended Pr￿tice
applicable to charities preparing their accounts in accordhnce with the Financial Reporting
Standard appli¢abl¢ in the UK and Republi¢ of Ireland (FRS 102)- (Charities SORP (FRS
102)), the Charities Act 2011 and the compani￿ Act 2006.
Friends of Foikeston¢ Acad¢Tny Ltd Djeets the definition of a public benefit entity under
FRS 102.
The fmancial statements bave been presented in GBP and n)unded to £'O(K).
1.2 Rentsl Income and Rents Recelvable
Rental income and rents receivable are included in the statement of flllancial activities on
an aCen￿lS basis.
1.3 Grants R¢¢¢ivabl¢ and Payable
Grants receivable and payable are included in the statement of financial activities on an
aGGTuals basis.
1.4 Investment Income and Interest Receivydble
Investment inWD]e and interest r￿e1vable are included in the ststement of financial
activities on an acctuals basis.
1.5 Expendithre
Exptnditure is accounted for on an accnjals basis and h&8 been classified under expense
categories that aggregate all costs relating to that category. Wbere costs cannot be directly
attributed to particular activities they have been allocated on a bagis consistent with the use
of r¢sour¢¢s.
1.6 Unrestricted Funds
All fi￿d5 ¢x¢¢pt the Marlow¢ Innovation Centre (MIC) fixed asset fiu￿ uDr¢strict¢d.
The MIC property has restrictions on its use for a period of time which expires in 2028.

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
l A¢collndng policies (continued)
1.7 Support Costs
Support costs comprise of expenditure incurred in connection with administration of the
charity and compliance with constitirtional and sta￿tOry r￿UireMents.
1.8 Tangible fixed assets
Tangible fixed assets are included in the balance Sheet at cost and are depreciated over their
use￿1 economic lives in accordance with the dep￿lation policy. Related grants are
credited to a fixed asset fund in the statement of financial activities and carried forward in
the balan¢¢ sheet.
Assets are reviewed at]nually for inipairnient. Assets costing less than £l,O(K) are written
off in the year of acquisitio￿ ullle5S they are part of a greater amount.
1.9 Depreciation
Depreciation is provided a straight line basis on the cost oftangible fixed assets, to write
tbem down to their estimated residual values over their expected usefill lives. The amiual
rates used are:
Leasehold buildings 20/0
Fixtures and equipment 2￿/tr
1.10 Investments
Investments are included in the financial statements at their market value at the balance
sheet date. Realised and unrealised gains (or losses) are credited (or debited) to the
statement of finatlcial activities in the year in which they arise.
Investments are a forni of flliancial instnunent and are initially reoognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless
the value cannot be measured reliably in wbich case it is measured at Cost less impairment.
]nvestment gains and losses, whether realised or unrealise(L are combined and presented
'Gains1(Losses) on investments, in the Statement of Financial Activities.
1.1 l Going concern
The charity has prudently built up its reserves over the past few years and its general fimd
as at 31 January 2023 was £2.8 million. There are no restrictions on tTUStees' ability to use
these funds if necessary to eDable it to continue to fulfil its cILaritable objects.
Based on the above and having regard to the resources available to the entity. the Trustees
have concluded that there is no n￿terial uncertainty and that they can continue to adopt the
going concern basis in preparin8 the annual report and acwuThts.
io

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
1.12 Flnanei21 Instruments
The Charity only enters into basic financial insttument transactions tbat result in the
recognition of financial assets and liabilities such as trade and other debtors and creditors.
loalls from banks and oth¢rthird parties. loans to relat￿ parties and investments in ordinary
shares.
2 Taxation
The Friends of Folkestone Academy Ltd is a registtted charity and as such its income and
gains are exempt from Income tax and corporation tax to the extent that they are applied to
its cbaTitable a¢tiviti¢s under the provisions of the Income and Corporation Taxes Act
1988.
3 Other In¢om¢
2023
£'ooo
75
2022
£'ooo
75
Rent received
4 Bank Interest
2023
£'ooo
2022
£'ooo
Bank inter￿t r￿C]ved
5 1nvestmeDt Income
2023
£iooo
66
76
142
2022
£iooo
69
75
144
Donation from subsidiary
Other investment income
6 Charftable Activities
2023
£'ooo
150
28
178
2022
£'ooo
Donations
Depreciation
28
37
Costs of charitable activities totalling £178,(MM) (2022: £37,OIK)) were attributable as
follows: £150,0(K) from general unrestricted fill￿$ (2022.. £9.000)' £nil from fixed asset
Unrestri￿￿1 funds (2021: £nil) and £28,000 from restricted funds (2022: £28,000).
li

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL sTATE￿￿￿[s
FOR THE YEAR ENDED 31 JANUARY 2023
7 Support Costs
2023
£'ooo
2022
£iooo
LEgal and professional services
Assurance services
13
Support costs of £13,(K)0 (2022: £4,000) were attributhle to general unrestrict¢d fimds
and all Telate to governance costs.
8 Staff Cost$
No staff were employed during the year and no truslee recetved remuneration or expenses
(2022: none).
9 Tangible fixed a55ets
Land
aDd
BuildiDgs Equipment Total
£'ooo
£'ooo
£'ooo
1,407
20
1,427
Fixtures
Cost
At l Febrnary 2022
Additions
Written off
At 31 January 2023
(i)
19
(i)
1,426
1.407
Depreeiation
At l Febnwy 2022
Charge
Written off
At 31 Jatluary 2023
264
28
20
284
28
(i)
311
(i)
19
292
Net Book Values
At 31 January 2023
1.115
1,115
At 31 January 2022
1,143
1.143
12

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
At 31 January 2023 the charity I￿1 agreed to spending £65,0(K) (2022: £nil) in capital
¢quipmmt at the Marlowe Innovation Centre. thougb contra¢ts had been entued into.
The land and buildings relate to the Marlowe Innovation Centre. The building is leased
from Kent County COU￿11 at a peppercorn rent over a lease of 75 years from July 2009.
No value has been placed on the land in the fu￿]Cial statements due to the restrictive
Covenants attaching to the asset. The charity has an option to acquire the land at the end of
the lease lern].
Included within tangible fixed assets are land and buildings with a Cary1￿ value of
£1,115,000 (2022: £1,143.(KM)) that are r¢nted to the chaTity's wholly owned subsidiary,
FFMA (frading) Limite
10 Investment in Subsidiary UDdert*king
2023
2022
£'ooo £iooo
FFMA (Trading) Limited
The investment comprises l ordinary sl]are of £1 which is I￿ of the issued share capitsl
of the wmpany. The company. which is regi5t¢red in England and Wales. is the trading
arni of the charity. Its results for tbe year were as follows:
2023
£iooo
294
(244)
2022
£'ooo
279
(219)
Turnover
Exp¢nditure
Other op¢rating in¢om¢
Profit for the year before tax
Distnbution to the charity
Retained (loss)/profit
50
61
69
16
Assets
Liabilities
Shar¢holders' funds
88
68
20
98
62
36
13

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
11 Listed investments
2023
2022
£'ooo
1,756
160
At Cost:
Opening balance
Additions
Disposals
Total inv¢stm¢nts at cost
1,916
37
1,953
1,916
At Market Value:
Chatity Authorised tnvestment Fund
Total investnients at market value
2,704
2.704
2,802
2,802
Movements in investments at market value
Market value &8 at l February 2022
Additions at (x)st less equalisation
Disposals
Unrealised investment gain￿o05se5)
Total Inv¢stmeDt$ at market value
2,802
37
2,540
160
(135)
2,704
102
2,802
The investments are held in a Sarasin & Par￿erS ChaTity Autllorised tnv¢stm¢nt Fund.
Income received on the investment rM)rtfolio during the year comprised of bank interest
amounting to £294 (2022: £11) and dividend inwme of £75.960 (2022: £74,697).
Th¢ fixed asset investtllents in the Sarasin are invested in a wide variety of sectors
with a significant geogrdphical sprea(L
12 Current asset investment
2023
2022
£'ooo £'ooo
39
39
Cash held by S&P LLP
13 Creditors - Ydmounts falling due within one year
2023
2022
£'ooo £'ooo
169
92
Trade creditors
Accruals and defetred income
173
94
14

FRIENDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINAI¥CIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
14 Transactio]As Ivitlx Related Parties
The cknty received rent of £75,(KK) (2022: £75.(XM)) In respect of & lease to its subsidiary
for Its prerniscs locat¢d at the Marlowe Ionovation Centre. Additionally. the charity
received a donation of £66,000 (2022". £69,(KK)) from its subsidiary.
Grants of £150.000 (2022: £9.(KKI) weremade to the Folkeslone Academy inthc year. Two
of the tn￿CeS of the charity IM Pearce and T Luke MBE) are governors of Folkest¢)ne
AGad¢n]y.
15 Statement of Fund5
February Incoming Outgoing Tr￿￿rS Gains & January
2022 Resources Resources
Losses
2023
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Restricted Funds
Fixed Asset Fund
1.143
(28)
1,115
Unrestricted funds
General Fund
Fixed Asset Fund
2,907
218
(163)
(135)
2,827
2.907
218
(163)
(135)
2,827
Total Funds
4.050
218
191
135
3.942
Of the restrict￿ [￿ed asset fjJn¢ £273,0(M) (2022: £279,(KK)) relates to grant fill￿illg
provided by Coastal Communities Fund.
At 1st
At 318t
Febnmry Intomlng Outgolng Transfers Gains & Jalluary
2021 Resources Resources
Losses
2022
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Restrleted Funds
Fixed Awt Fund
1.171
(28)
1,143
Unrtstrieted fimds
Generdl Fund
FiK¢d Asset Fund
2.598
219
{12)
102
2.907
2,598
219
{12)
102
2.907
Total FuDds
3,769
219
102
15

FRIELYDS OF FOLKESTONE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 JANUARY 2023
16 Analysis of Net Assets Betsveen FuDds
The fimds of the charity comprise of the following assets:
Unrestricted Restrleted
Total
Fun(L¥
Funds Funds
Total
Funds
2022
£'ooo
1,143
2,802
199
(94)
2023
£'ooo
2023
£'ooo
1.115
2023
£'ooo
1.115
2,704
296
(173)
Tangible fjxed assets
Fixed asset inveStn￿ntS
Cu￿¢llt assets
Creditors due within one year
2,704
296
(l73)
2.827
1.115
3.942
4.050
Unrestricted Restricted
Funds
Funds
2022
2022
£'ooo
£'ooo
1,143
Total
Funds
2022
£'ooo
1,143
2,802
199
(94)
Total
Funds
2021
£'ooo
1,171
2540
193
(135)
Tan￿￿11e fixed assets
Fixed asset investments
Current assets
Creditors due within one year
2,802
199
(94)
16