CRANLEIGH FOUNDATION CRANLEIGH FOUNDATION A COMPANY LIMITED BY GUARANTEE REGISTERED NUMBER 6452540 CHARITY NUMBER 1122918 ANNUAL REPORT AND ACCOUNTS 31 JULY 2021
Cranleigh Foundation Trustees Report 2021 CRANLEIGH FOUNDATION ANNUAL REPORT AND ACCOUNTS 2021 TRUSTEES, OFFICERS AND ADVISORS The Trustees of Cranleigh Foundation M J Meyer (Chairman) Mrs M C Allison lappoinled 7 September 20201 A S Cronk C Dellière Mrs B Graham-Rack A J Lajtha N P Smith S Watkinson (resigned 29 April 20211 G J Williams The Officgrs of Cranlelgh Foundation Foundation Officer.. Company Secretary.. Mrs C J Lock P T Roberts MBE DChA The Address of Cranlgigh Foundatlon Cranleigh Foundation Cranleigh School Horseshoe Lane Cranleigh Surrey GU6 8QQ Website www.cranleigh.org
Cranleigh Foundation Trustees Report 2021 Advisors Bankeryts Handelsbanken Andrews House College Road Guildford GU14RG Solicitors Veale Wasbrough Vizards Orchard Court Orchard Lane Bristol, BS1 5WS Auditors Crowe U K. LLP 55 Ludgate Hill London EC4M 7JW Investment Advisors CCLA Senator House 85 Queen Victoria Street London EC4V 4ET
Cranleigh Foundation Trustees Report 2021 CRANLEIGH FOLINDATION ANNUAL REPORT OF THE CRANLEIGH FOUNDATION TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021 The Cranleigh Foundation Trustees present the annual report for the year ended 31sI July 2021 under the Charities Acts 2011 and the Companies Act 2006, together with the audited accounts for the year. The Trustees confirm that the accounts comply with the requirements of the Acts, the Memorandum and Arbcles of Association and Ihe Charities SORP 2015. and Finanaal Reporting Standard 102 ( FRS" 102). REFERENCE AND ADMINISTRATIVE INFORMATION Cranleigh Foundation (the Foundalionl was incorporated on 13th Dember 2007. registered as Charity under charity number 1122918 on 21* February 2008 and began operational activilies al the start of 2008. The Foundation is a private company limited by guarantee and registered under the Companies Act, number 06452540. The Trustees of the Foundation, and those who acted during the year, are listed on page 1 together with details of the Charity's key staff and professional advisers. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Docum¢nt The Foundation is governed by Memorandum of Association and Articles of Association dated 131h Dernber 2007. Recruitrnent and Appolntment of Trustees Foundatson Trustees are appointed at meetings of the Board of Trustees on the basis of nominations received from the Governing Body of Cranleigh School Ilhe School) and other Trustees and those involved with Cranleigh Foundation, taking account of their experience, professional qualifications. skills, local knowledge and availability. The induction of new trustees is overseen by the Chairman and organised by the Headmaster of the School and Company Secretary. The Headmaster and Company Secretsry brief new Iruslees on the objects, structure and working practices ofthe Foundation. Trustees are registered with Companies House and the Charity CommisSn and undergo checks in accordance with recruiting procedures. This includes compliance with Safeguarding Children regulations. Trustees are covered for limited liability by the School's insurance. Structure and Risk Management The Trustees meet al least once each year. Meetings are arranged well in advance and Trustees are asked to provide items for discussion al meeb'ngs. Minutes of meetings a taken. The Trustees are sab"sfied that the major risks have been identified and controls put in place lo adequately manage risk. It is recognised that systems can provide reasonable but not absolute a55urance that major risks are being managed. The Charity's governance complies with the Code for the Voluntary and Community Sector. endorsed by the Charity Commission and other best-practice guidelines published by the Charity Commis510ri. OBJECTIVES AND ACTIVITIES The Foundation's object is lo promote and advance any charitable purpose directly connected with Cranleigh S¢hool and in the event that the School ceases lo exist to Pfomote other educational charitable purposes for the benefit of the community. The Trustees have regard lo the guidance promulgated by the Charity Commission in respect of the provision of public benefit. The Trustees are aware of the Charities Acls, particularly the 2011 Act, and the responsibility that these Acts place on the Foundation and Trustees.
Cranleigh Foundation Trustees Report 2021 The funds raised for, and donated to, Cranlei9h Foundation are building an endowment which has the primary purpose of providing financial support to Foundalioner pupils. The Foundation seeks to provide a stable boarding education forchildren who have a significant pastoral need, such as losing the support of one or both parents through exceptional or tragic circumstances. The Foundation is grateful for the generosity of parents, Old Cranleighans, friends of the School and corporate sponsors. Reserves Level and Policy The Founcfalion reserves policy is to maintain funds lo estsblish an endowment whilst incurring as few costs as possible until active fund-raising re-commences. The Founc5alion retained £1.897k of unreslricled funds al yearond and incurred costs of £32k during the year. In view of this the FoUndatn has been relatively unaffected by Covid-19 given the policy of limited fund-raising together with a small cost base. The Trustees consider that the level of income and expenditure creates sufficient, and significant, reserves lo meet future, post Covid-19. commilmenls. The bulk of Cranleigh Found81ion's funds are unreslricled. There is £87k of funds restricted lo specific building or bursary projects designated within the Foundation's charitable objects. Principal Rlsks aTrd Uncertaintles Cranleigh Foundation Trustees are responsible for the management of the risks faced by the Foundats'on. The generic controls used by the Charity to minimise risks include.. formal agendas fr)r Committee and Board aclivily,. fomial strategie planning, reviewed annualty," comprehensive budgeting and management a¢¢ounling'. established organisational structures and lines of reporting., compliance wlh regulats'ons that apply to the running of a charity., declaration of conflicts of interest. renewed at each Tneeting. The Trustees believe that risks have been mitigated. Currently, Foundation activity is limited after a peTiod of more intense activity up to 2014. There may be heightened risk once Cranleigh School re- commences pro-active fund-raising activity and it should be noted that plans in this area have been affected by the Covid-19 pandemic. CCLA provide investment management advice and Foundation funds are invested with CCLA. Investment risk is spread through the selection of the CCLA COIF Charities Investment Fund which invests broadly so as to spread risk. FUTURE PLANS The Foundation Trustees reviewed the strategic direction of the Foundation in April 2017. It was concluded that the Foundation's plans are to.. take ownership of Foundation funds and invest the funds prudently for the future., provide for a Foundationer programme with kn pupils per year normally from years 7 - 13 which includes a review of the Foundalioner selection process and the Success of the programme., provide a vision and venue for a long term endowment fund. Significant funds have boen raised by the Foundation Sin 2008 which have been used to good effect for the Foundationer programme and lo assist the School in funding new facilities. There has been little fund raising activity again this year with the focus continuing lo be on gathering information, within GDPR data protection regulations, in order to build a data base to assist future fund-raising initiatives. The Head of Cranleigh Giving lakes responsibility for fund rai$ing across the School with a proportion of funds raised allocated to the Foundation so that il is able to meet its objects and tasks. CCLA were appointed In late 2017. following a formal tender process, to manage the Foundation's funds. Al 31. July 2021 £1,663k was invested with CCLA, making up the bulk of Foundation assets.
Cranleigh Foundation Trustees Report 2021 REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR The Foundation received £365k12020.' £355kl from donations and inveslmenl income during the year and with fund-raising events lolal income for the year was £371 k 12020.. £374kl. The Foundation receives generous donations from current Cranleigh School parents. The main fund raising event of the Christmas fair, usually held al Cranleigh Prep School in November, was successfully held virtually due lo Covid. The Trustees 8Uthorised charitable donations during the year of £31k 12020.. £27kl lo Cranleigh School. FINANCIAL REVIEW The Foundation had restricted reserves of £87k and unreslrieted reserves of £1.897k12020". £87k and £1,381k respectively) al the end of the year. This is sufficient lo meet existing commitments during the next year. The Foundation had no fundraising activities requiring disclosure under S162A of the Charities Act 2011. The Trustees consider that the Foundation'5 financial position, with funds of £2.Om at the point of signing and commitments of1ess than £1 Ok pa, repre$enls a financial 'going-concern' for the foreseeable future and al a minimum period of hvelve months. ACCOUNTING AND REPORTING RESPONSIBILITIES The Trustees are responsib for the preparation of the Trustees, Report 8nd the financial statements in accordance with applicable law and regulation5. Company law requires trustees to prepare financial Statements for each financial year in accordance with United lfjngdom Generally Accepted Accounting Practice (United Kyngdom Accounting Standards) and applicable law. Under company law trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and ol its net incoming or outgoing resources for that period. In preparing these financial stalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., make judgments and eslimales that are reasonable and prudent.. slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial $talemenls'. prepare the financial statements on the going Concern basis unless it is inappropriate lo presume that the charity WISE continue to operate. The Trustees are responsible loi keeping proper 8c¢ounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime the financial position of the charity. These records must enable the TTUStees to ensure that the financial statements comply with the Companies Aet 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectson of fraud and other irregular5ties. Insofar as each of the members of the Board of Trustees al the date of approval of this report is awaTe there is no relevant audit information linformalion needed by the Charity's Auditors in connection with preparing the audit report) of which the Charity's Auditors are unaware. Each member of the Board of Trustees has taken all of the steps that he or she should have taken as a member of the Board of Trustees in order lo make himself or herself aware of the relevant audit information and to establish that the Charity'5 auditors are aware of that informatson. Approved by the Foundation Board of Trustees on 18 2021 and signed on its behalf by.. MJMey Ichaimianl
Independent Auditor's Report to the Members of Cranleigh Foundation Opinion We have audited the financial statements of Cranleigh Foundation I'lhe charitable company'l for the Year ended 31 July 2021 which comprise Slalement of Financial Aclivilies, Balance Sheet and notes to the financial ststements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the fi'nancial slalemenls.. give a true and fair view of the slate of the charitable company's affairs as at 31 July 2021 and of its income and expenditure, for the 31 July 2021 then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounling Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities forthe audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going con¢grn In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collecb"vely, may cast significant doubt on the charitable company'5 ability to continue as a going concern for a period of al least fvlelve months from when the financial statements are aulhorised for Issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are de$cribed in the relevant sections of this report. Other infomiation The Iruslees are responsible for the other information contained within the annual report The other information comprises the information included in the annual report. other than the financial slalements and our auditor'$ report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information Is materially inconsistent with the financial Statements or our knowledge obtained in the audit or olhetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard.
Opinlons on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the trustees, report. which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial slalements are prepared is consistent with the financial statements., and the directors, report included wlhin the Iruslees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing lo reF)Ort in respect of the lollowing matters in relation to which the Companies Act 2006 requires us lo report to you if. in our opinion.. adequate and proper aceountsng records have not been kept., or the financial stslements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Iruslees, responsibilities statement Iset out on page 51. the trvstees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal eontrol as the Iruslees determine is necessary lo enable the preparation of financial statements that are fe from material misstatement, whether due to fmud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, matter5 related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or lo cease operations, or have no realistic alternative but lo do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of as5uran¢e, but is not a guarantee that an audit conducted in accordance wlh ISAS IUKI will always detect a material rnisslatemenl when il exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalements. Details of the extent to which the audit was considered capable of detecting irregularities. including fraud and non-compliance with law5 and regulations are set out below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uk18uditor res onsibililies. This description forms part of our auditor's report. Extent to whlch the audit was consldered Capable of dgtgctlng Sfregularitles. Includlng fraud Irregularities, including fraud, are instance5 of rson-compliance with laws and regulallons. We identified and assessed the risks of material misslalemenl of the financial statements from irregularities, whether due lo fraud or error. and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination ol material amounts and disclosures in the financial statements. The laws and regulations we considered In this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effe¢l on the financial slalements but compliance with which might be fundamental to the charitable company's ability lo operate or lo avoid a material penalty. We also considered the opportunities and incentives that may exist within the Charitable company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protecb'on Regulation IGDPRI and Taxation legislation. Auditing standards limit the required audit procedures to identify non-¢omplian¢e with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the liming of recognition of income and the override of controls by management. Our audit prOdureS lo respond to these risks induded enquifies of management, the Finance Committee about their own identification and assessment ol the risks of irregularities, sample lesling on the posting of journals. analytical review and sample lesling of income, reviewing accounting eslimales for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutss of meetings of those charged with govemance. Owing to the inherent limitations of an audit, there is an unavoidable risk Ihal we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing stsndards. For example, the further removed non-compliance with laws and regulations lirregulariliesl is from the events and transactions reflected in the financial slatemenls, the less likely the InhetrY limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-deleclion of iriegularilies, as these may involve collusion. forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non- compliance and cannot be expected lo detect non-complian with all laws and regulations. Use of our report This report is made solely to the charbtable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies A¢1 2006. Our audit work has been undertaken so that we might state lo the charitable company's members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the Charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Nicola May Senior Slatulory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London Dale.. 20th December 2021
CRANLEIGH FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES Ilncorporaling an Income and Expenditure Accounti FOR THE YEAR ENDED 31 JULY 2021 Unrestricted Funds £'ooo Restricted Funds £'ooo Note 2021 £'ooo 2020 £'ooo INCOME FROM: Investment income 31 31 27 Donatlonsllegacies 334 334 328 Fundraising gvents 19 Total 371 371 374 EXPENDITURE ON: Raising funds Charitable activities 31 31 34 Total 32 32 38 NET INCOME BEFORE TRANSFERS AND INVESTMENT GAINS 339 339 336 Gainsl{losses) on Investments 177 177 NET INCOME 516 516 343 Transfer betwgen funds NET MOVEMENT IN FUNDS 516 516 343 Balances brought forward at 1 August 2020 1.381 87 1,468 1,125 BALANCES CARRIED FORWARD 31 JULY 2021 1,897 87 1,984 1.468
CRANLEIGH FOUNDATION BALANCE SHEET AS AT 31 JULY 2021 Note 2021 £'ooo 2020 £'ooo NON CURRENT ASSESTS Investments 1,663 CURRENT ASSETS Cash- at bank 330 495 1,993 1,481 CREDITORS - Due within one year 191 {13} NET ASSETS 1,984 1,468 RESTRICTED FUNDS 87 87 UNRESTRICTED FUNDS 1,897 1,381 TOTAL FUNDS 1,984 1.468 Approved and authorised for issue by the Trusteos on I%Noyemb•r 2021 and signed on their behalf by MJMe hairmanl The notes on pages 11-14 form part of these accounts 10
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2021 ACCOUNTING POLICIES The accounts (financial statements) have been prepared in accordance with the Charities SORP IFRS1021 applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as il applies from 1 January 2015. Cranleigh Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy notelsl. The Foundation's Reserves policy has been relatively unaffected by Covid-19 given the policy of limited fund- raising together with a small cost base.The Trustees Consider that the level of income and expenditure creates sufficient and significant, reserves lo meet future post Covid-19, committmenls and continues as a going concern. 1.1 Critical accountlng Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, trustees are required lo make judgements, eslimales, assumptions about the carrying values of assets and liabili11es that are not 3llY apparent from other sources. The eslirnales and underlyin9 assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying 8ssumplions are reviewed on an on-golng basis. Revision5 to accounting estimates are recognised in the period in which the estimate is revised if the revision affeds only that period or In the period of the revision and future periods if the revision affects the current and future periods. In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet dale are likely to result in a material adjustment to their carrying amounts in the next financial year. 1.2 Income Income is included in the Slalemenl of Financial Activities when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy arbd the likelihood of roceipl of the income is probable. 1.3 Expenditure Expenditure is recognised once there is a legal or conslrijclive obligation to make a payment lo a third party, it is probable that selllernent wll be required and the amount of the obligation can be measured reliably. Support costs are those functions that assist the work of the charity bul do not directly undertake charitable activities. Support costs include back office costs. finance, personnel, payroll and governance costs which support the charity's educational operations and a¢lNilies. 1.4 Funds Structu Reslricled funds afe funds to be used in a¢¢ordan¢e with the specific restrictions imposed by the donors or for the specific purposes specified when requesting donations. Unreslricled funds comprise Ihose funds which the trustees are free lo use for any purpose in furtherance of the charitable objects.
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2021 1.5 Taxation The Foundation. as a registered charty. is able to lake advantage of the lax exemptions available lo charities. Accordingly, there is no corporation lax payable on the nel incoming resources. 1.6 Cash flow The Foundation, as a registered charity and subsidiary of a group which prepares publically available consolidated fr'nancial slalemenls, is able lo take advantage of the cash flow exemption. 1.7 Investments Listed investments are valued at market value as al balance sheet date. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities, allocated lo the appropriate Fund according to the ownership" of the underlying assets. EXPENDITURE 2021 £'ooo 2020 £'ooo Raising funds Fundraising events Charitable a¢tivities Donalions to Cranleigh School Support costs and governance 31 27 31 34 Total 32 38 None of the Trustees have been paid any rgmuneralion. No Trustee expenses have been incurred. 3. INVESTMENTS 2021 £'ooo 2020 £'ooo Balance at 1 August 2020 Additions Disposals Gain I Ilossl on investments Balance al 31 July 2021 986 500 779 200 177 1,663 Investments are all held within listed investments al 31 July 2021 4. CREDITORS 2021 £'ooo 2020 £'ooo Accruals Deferred Income Ideposils held for 2021 Christmas Fundraiser) 13 12
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2021 Balance 01108120 £'ooo 22 65 87 Balance 31107121 £'ooo 22 65 87 5. STATEMENT OF FUNDS Income Expenditure Gainslllossesl Transfer8 £'ooo £'ooo £'ooo £'ooo Loveday Scholarship Fund Other Total Restricted Funds Totsl Unrestricted Funds 1,381 371 132) 177 1,897 Total Funds 1,468 371 132) 177 1,984 Allocation of Net Assets to Funds £1.663k of Ihe funds are held as non current assets with the balance as current. Balance 01108119 £'ooo 22 65 87 Balance 31107120 £'ooo 22 65 87 6. COMPARATIVE STATEMENT OF FUNDS Loveday Scholarship Fund Other Total Restricted Funds Income Expenditure Gainslllossesl Transfers £'ooo £'ooo £'ooo £'ooo Total Unrestricted Funds 7,038 374 1381 1,381 Total Funds 1,125 374 1381 1,468 Total Current Current Liabilities Net Assets £000 £'ooo 7. ALLOCATION OF NET ASSETS Non Current Assets £'ooo Current Assets £'i)00 The net assets held for the various funds.. Restricted ReseNes General Reserves 87 243 87 1,897 1.663 19) Total Reserves as at 31 July 2021 1,663 330 191 1,984 Total Current Current Currant Assets Liabilities Net Assets £'ooo £'ooo £'ooo COMPARATIVE ALLOCATION OF NET ASSETS Non Current Asselg £'ooo The net assets as at 31 July 2020 as held for the various funds.. Restricted Resetves General Reserves 87 408 87 1,381 986 113} Total Reserves 495 1131 q,468 PARENT ENTITY The charitable company is a wholly owned subsidiary of Cranleigh School, a charitable company incorporated in England. Copies of the annual accounts of Cranleigh School are available from the Company Secretary, Cranleigh School . Cranleigh, Surrey. GU6 8QQ 13
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2021 10. RELATED PARTY TRANSACTIONS There have been no related party transactions that require disclosure. 11. CHARITY INFORMATION The charity is a private company (registed number 64525401 by guarantee, which is incorporated and domiciled in the UK and is a public benefit entity. The address of the registered office is Cranleigh School, Horseshoe Lane. Cranleigh, Surrey GU6 8QQ. 12. FINANCIAL INSTRUMENTS The charity has financial assets and financial liabilrties of a kind that qualify as basic financial instruments. Basic financial inslrurnenls are Initially recognised al transaction value and subsequently measured at amortised cost using the effective interest method. Financial assets held al amortised cost comprise cash and bank and in hand, together with trade and other debtors. Financial liabilities held al amortised cost comprise bank loans and overdrafts, trade and other creditors. At the balance sheet dale the charity held financial assets al amortised cost of £330k {2020'. £495kl. Financial as5els al fair value through income or expenditure of £1.663k (2020.. £986kl and Financial liabilities al amortised cost of £9k12020". £13k) 13. COMMITMENTS There are no capital and revenue commitments other than those items recognised as liabilities in the financial statements 14. STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES Unrestricted Funds £'ooo Restricted Funds £'ooo 2020 £'ooo INCOME FROM.. Investment income Donalionsllegacies Fundraising events 27 328 19 27 328 19 Total 374 374 EXPENDITURE ON: Raising funds Charitable activities 34 34 Total 38 38 NET INCOME 336 336 Gainslllo$sesl on investments Transfer between funds NET MOVEMENT IN FUNDS Balances brought forward al 1 August 2019 BALANCES CARRIED FORWARD 31 JULY 2020 343 1,038 1,381 343 1,125 1,468 87 87 14