REGISTERED COMPANY NUMBER: 03463173 (England and Wales)
REGISTERED CHARITY NUMBER: 1111384
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023 for Association Guardianship[of] for[ International] the Education[Students] and
Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
Association for the Education and Guardianship of International Students
Contents of the Financial Statements for the year ended 31 August 2023
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|Page|
|Report|of the|Trustees|1|to|2|
|Independent|Examiner's|Report|3|
|Statement|of Financial|Activities|4|
|_|Balance|Sheet|5|
|Notes|to|the|Financial|Statements|6|to|ll|
|Detailed|Statement|of Financial|Activities|12|
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Association for the Education and Guardianship of International Students
Report of the Trustees
for the year ended 31 August 2023
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 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Public benefit
The guardianship and education of international students. To promote the safety, welfare and education in the United Kingdom of students who normally reside outside the United Kingdom and who attend schools and other educational institutions in the United Kingdom.
Volunteers
The charity does not use volunteers in the day to day running of operations, however the charity does use the help and knowledge of members within the advisory committee and various sub-committees. The Trustees would like to recognise that the charity is heavily reliant on this help and are very grateful of the time given up by such members.
FINANCIAL REVIEW
The surplus for the year was £24,773 (2022 - £27,162)
Reserves Policy
The Charity's unrestricted funds stood at £184,935 (2022: £160,162) at the year end, wholly deployed. Day to day working capital needs are met by careful management of short-term liquid resources.
The trustees consider the level of free reserves reasonable in the circumstances in order to cover the risks and uncertainties of operating as an independent charity.
The policy is thus to maintain reserves at a level at least on a par with a year's operating expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The company was incorporated on 10 November 1997 and was awarded charitable status on 21 September 2005.
The organisation is governed by the Trustees to ensure it meets with the requirements of the Charity Commission.
The Trustees hold meetings on a quarterly basis. The advisory committee in its new format will report directly to the Trustees through the Executive Officer who will forward recommendations to the Trustees. The Trustees make the ultimate decisions in the operation of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 03463173 (England and Wales)
Registered Charity number 1111384
Page 1
Association for the Education and Guardianship of International Students Report of the Trustees for the vear ended 31 August 2023
Registered office The Wheelhouse Bond's Mill Estate Bristo] Road Stonehouse Gloucestershire GL10 3RF
Trustees A Lubbock S$ Nicholson LE Foster B WD Hughes J A Scarfe (resigned 1.7.23) M Miller (resigned 15.3.23) J York (resigned 15.3.23) G Kilby G Young (appointed 19.4.23) S Gilbert (appointed 15.3.23)} S Field (appointed 15.3.23) K Pickles (appointed 15.3.23) J Holroyd Morris (appointed 15.3.23)
Independent Examiner Michael William Procter FCA Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
Bankers Royal Bank of Scotland Ple, 62/63 Threadneedle Street, PO Box 412, London EC2R 8LA
Approved by order of the board of trustees on 10 April 2024 and signed on its behalf by:
A Lubbock - Trustee
Page 2
Independent Examiner's Report to the Trustees of Association for the Education and Guardianship of International Students
Independent examiner's report to the trustees of Association for the Education and Guardianship of International Students (‘the Company’)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
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 with the requirements of the Companies Act 2006 (‘the 2006 Act’).
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 independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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1, accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3: the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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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 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 matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached,
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oyler >
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Michael William Procter FCA
Walkers Accountants Limited Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
10 April 2024
Page 3
Association for the Education and Guardianship of International Students
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 August 2023
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|---|---|---|---|---|
|31.8.23|31.8.22|
|Unrestricted|Total|
|fund|funds|
|Notes|5|£|
|INCOME AND ENDOWMENTS FROM|
|Charitable|activities|
|Charitable|Activities|164,011|128,797|
|Investment|income|2|292|192|
|Other income|3|5,171|3,613|
|Total|169,474|132,602|
|EXPENDITURE|ON|
|Charitable|activities|4|
|Charitable|Activities|144,701|105,440|
|NET INCOME|24,773|27,162|
|RECONCILIATION|OF|FUNDS|
|Total|funds brought|forward|160,162|133,000|
|TOTAL FUNDS CARRIED FORWARD|184,935|160,162|
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The notes form part of these financial statements
Page 4
Association for the Education and Guardianship of International Students
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|---|---|---|---|---|---|---|---|
|Balance|Sheet|
|31|August|2023|
|31.8.23|31.8.22|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|FIXED|ASSETS|
|Tangible|assets|9|=|=|
|CURRENT|ASSETS|
|Debtors|10|311|311|
|Cash|at|bank|201,149|168,970|
|201,460|169,281|
|CREDITORS|
|Amounts|falling|due|within|one year|11|(16,525)|(9,119)|
|NET CURRENT ASSETS|184,935|160,162|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|184,935|160,162|
|NET ASSETS|184,935|160,162|
|FUNDS|12|
|Unrestricted|funds|184,935|160,162|
|TOTAL FUNDS|184,935|160,162|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state 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 otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 April 2024 and were signed on its behalf by:
A Lubbock - Trustee
The notes form part of these financial statements
Page 5
Association for the Education and Guardianship of International Students
Notes to the Financial Statements for the year ended 31 August 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 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 income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be reccived and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 has 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Assets held under finance lease are depreciated in the same manner as owned assets.
Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.
Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.
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Association for the Education and Guardianship of International Students
Notes to the Financial Statements - continued for the year ended 31 August 2023
- ACCOUNTING POLICIES - continued
Tangible fixed assets
Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2; INVESTMENT INCOME
| 2; | INVESTMENT INCOMEINCOME | |||
|---|---|---|---|---|
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Bank interest received | 292 | 192 | ||
| 3. | OTHERINCOME | |||
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Disclosure&Barring Service fees | 3,684 | 3,613 | ||
| Advertising | 1,487 | - | ||
| 5,171 | 3,613 | |||
| 4. | CHARITABLE ACTIVITIES COSTS | |||
| Support | ||||
| Direct | costs (see | |||
| Costs | note 5) | Totals | ||
| £ | £ | £ | ||
| CharitableActivities | 137,004 | 7,697 | 144,701 |
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Association for the Education and Guardianship of International Students
Notes to the Financial Statements - continued for the year ended 31 August 2023
5. SUPPORT COSTS
| SUPPORT COSTSCOSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Charitable Activities | 235 | 7,462 | 7,697 |
| Supportcosts, included in the above, are as follows: | |||
| Finance | |||
| 31.8.23 | 31.8.22 | ||
| Charitable | Total | ||
| Activities | activities | ||
| £ | £ | ||
| Bankcharges | 235 | 168 | |
| Governance costs | |||
| 31.8.23 | 31.8.22 | ||
| Charitable | Total | ||
| Activities | activities | ||
| £ | £ | ||
| Accountancy fees | 3,660 | 3,390 | |
| Legal fees | 3,802 | 3,093 | |
| 7,462 | 6,483 |
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
Travel expenses paid to trustees amounted to £258 (2022: £nil) during the year.
- STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.8.23 | 31.8.22 | |
|---|---|---|
| Administration | 3 | 3 |
No employees received emoluments in excess of £60,000.
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Association for the Education and Guardianshipof International Students
| Association for the Education and Guardianshipof International of InternationalInternational Students |
|||
|---|---|---|---|
| Notes to the Financial Statements - continued | |||
| for the year ended 31 August2023 | |||
| 8. | COMPARATIVESFORTHESTATEMENTOF FINANCIAL ACTIVITIES | ||
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOMEANDENDOWMENTS FROM | |||
| Charitable activities | |||
| Charitable Activities | 128,797 | ||
| Investment income | 192 | ||
| Other income | 3,613 | ||
| Total | 132,602 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable Activities | 105,440 | ||
| NETINCOME | 27,162 | ||
| RECONCILIATIONOFFUNDS | |||
| Total fundsbroughtforward | 133,000 | ||
| TOTALFUNDS CARRIEDFORWARD | 160,162 | ||
| 9, | TANGIBLE FIXED ASSETS | ||
| Fixtures | |||
| and | |||
| fittings | |||
| £ | |||
| COST | |||
| At ] September2022 and 31 | August2023 | 5,738 | |
| DEPRECIATION | |||
| At | September2022 and31 | August 2023 | |
| NETBOOKVALUE | |||
| At31 August2023 | - | ||
| At31August2022 | - |
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Association for the Education and uardianship of International Students
Notes to the Financial Statements - continued for the year ended 31 August 2023
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|---|---|---|---|---|---|---|---|---|---|
|10.|DEBTORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR|
|31.8.23|31.8.22|
|£|£|
|Prepayments|311|311|
|11.|CREDITORS:|AMOUNTS FALLING DUE|WITHIN ONE YEAR|
|31.8.23|31.8.22|
|£|£|
|Social|security|and|other taxes|855|465|
|VAT|3,319|2,620|
|Deferred|income|9,950|3,950|
|Other creditors|331|14|
|Accrued|expenses|2,070|2,070|
|16,525|9,119|
|12.|MOVEMENT IN|FUNDS|
|Net|
|movement|At|
|At|1.9.22|in|funds|31.8.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|160,162|24,773|184,935|
|TOTAL FUNDS|160,162|24,773|184,935|
|Net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|169,474|(144,701)|24,773|
|TOTAL FUNDS|169,474|(144,701)|24,773|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.9.21|in|funds|31.8.22|
|£|£|£|
|Unrestricted|funds|
|General|fund|133,000|27,162|160,162|
|TOTAL FUNDS|133,000|27,162|160,162|
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Association for the Education and Guardianship of International Students
Notes to the Financial Statements - continued for the vear ended 31 August 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
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|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General fund|132,602|(105,440)|27,162|
|TOTAL FUNDS|132,602|(105,440)|27,162|
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A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|movement|At|
|At|1.9.21|in funds|31.8.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|133,000|51,935|184,935|
|TOTAL FUNDS|133,000|51,935|184,935|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|A|current|year|12|months|and|prior|year|12|months|combined|net movement|in|funds,|included|in|the|above|are|
|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|f|£|
|Unrestricted|funds|
|General|fund|302,076|(250,141)|51,935|
|TOTAL FUNDS|302,076|(250,141)|51,935|
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13. |RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
Page 11
Association for the Education and Guardianship of International Students
Detailed Statement of Financial Activities for the vear ended 31 August 2023
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|---|---|---|---|---|---|
|31.8.23|31.8.22|
|£|£|
|INCOME AND ENDOWMENTS AND ENDOWMENTS ENDOWMENTS|
|Investment|income|
|Bank|interest|received|292|192|
|Charitable|activities|
|Conferences|19,171|300|
|Inspections|47,381|37,638|
|Member|fees|-|Schools|42,292|33,978|
|Member|fees|- Guardianship|38,441|44,714|
|Courses|16,726|12,167|
|164,011|128,797|
|Other|income|
|Disclosure &|Barring|Service|fees|3,684|3,613|
|Advertising|1,487|-|
|5,171|3,613|
|Total incoming|resources|169,474|132,602|
|EXPENDITURE|
|Charitable|activities|
|Wages|65,456|56,743|
|Pensions|1,393|1,141|
|Rent|4,385|4,715|
|Insurance|1,271|1,244|
|Telephone|942|948|
|Office|administration|costs|4,812|3,776|
|Marketing|7,638|2,432|
|Inspection|fees|27,294|14,495|
|Website|costs|2,251|8,332|
|Conference,|meetings &|training|costs|21,562|4,963|
|137,004|98,789|
|Support|costs|
|Finance|
|Bank charges|235|168|
|Governance|costs|
|Accountancy|fees|3,660|3,390|
|Legal|fees|3,802|3,093|
|7,462|6,483|
|Total|resources|expended|144,701|105,440|
|Net income|24,773|27,162|
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INCOME AND ENDOWMENTS AND ENDOWMENTS ENDOWMENTS
This page does not form part of the statutory financial statements
Page 12