CRANLEIGH FOUNDATION CRANLEIGH FOUNDATION A COMPANY LIMITED BY GUARANTEE REGISTERED NUMBER 6452540 CHARITY NUMBER 1122918 ANNUAL REPORT AND ACCOUNTS 31 JULY 2023
Cranle¢gh Foundation Trustees Report 2023 CRANLEIGH FOUNDATION ANNUAL REPORT AND ACCOUNTS 2023 TRUSTEES. OFFICERS AND ADVISORS The Trustees of Cranleigh Foundation M J Meyer (Chairman} Mrs M C Alison A S Cronk C Dellière Mrs 8 Graham-Rack A J Lajtha NPSmith G J Williams The Officers of Cranleigh Foundatlon Foundakn'on Officer. Company Secretary". Ms S L Greenw¢1 P T Roberts MBE DChA The Address of Cranleigh Foundation Cranleigh Foundation Cranleigh School Horseshoe Lane Conleigh Surrey GU6 8QQ Website wvrn.cranleigh.org AdvSsoTS Bankers Handelsbanken Andrews House Colle9e Road Guildford GU14RG Sollcltors Veale Wasbrough Vizards Orchard Court Orchard Lane Bristol 8S1 5WS Auditors Crowe UK LLP 55 Lud9ale Hill London EC4M 7JW Investmgnt Advisors CCLA Senator House 85 Queen Victoria Street London EC4V 4ET
Cranleigh Foundation Trustees Report 2023 CRANLEIGH FOUNDATION ANNUAL REPORT OF THE CRANLEIGH FOUNDATION TRUSTEES ST FOR THE YEAR ENDED 31 JULY 2023 The Cranleigh Foundation Trustees present the annual report for the year ended 315t July 2023 under the Charities Acts 2011 and the Companies Act 2006. together with the audited acccunls for the year. The Truste confirm that the accounts (mplY with the ruIreMents of the Acts, the Memorandum and Articles ofAssociation and the Charfaes SORP 2015. and Finan&al ReFN)rting Standard 102 fFRS" 1021. REFERENCE AND ADMINISTRATIVE INFORMATION Cranleigh Foundation (the Foundation) vras incorporated on 13th Decemlw 2007. registered as a Charity under charity number 1122918 on 21* February 2008 and began operational actTwties at the start of 2008. The Foundation is a private company limited by guarantee and registered under the Companies Ac( number 06452540. The Trustees of the Foundation, and those who acted during the year, are listed on page 1 together wtth details of the Charivs key stsff and professional advisers. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The Foundation is govemed by Memorandum of Assocration and Artic$ of Association dated 13 December 2007. Recruitment and Appointment of Trustees Foundation Trustees are appointed aT meetings of the 8oard of Trustees on the basis of nominations receNed from the Governing Body of Cranleigh School (the Schi)oll and other Trustees and those involved with Cran5eigh Foundation, taknng account of their experience, professional qualifications, skills. local knowledge and availaoility. The induction of new tnjstees is overseen by the Chairman and organised by the Headmaster of the School and Company Secretary. The Headmaster and Cornpany Secretary brief new trustees on the objects. stsucture and worknng practices of the Foundation. Trusteès are registered with Companies House and the Charity Commission and undergo checks in accordance with recruiTing procedures. This indudes compliance with Safeguarding Children regulations. Trustees are covered for Ilmited liability by the School's insurance. structure and Risk Management The Trustees meet at least On each year. Meetings are arranged well in advance and Trustees are asked to provide ttems for discussion at rneetings. Minutes of meetings are taken. The Trustees are satisfied that the major risks have bn identified and controls put in place to adequately manage risk. It is recognised that systems c2n provide reasonable but not absolute assuranrE that major risks ar9 being managed. The Charity's governanTr complies with the Code for the Voluntary and Community Sector, endorsed by the Charity Commission and other best-practic£ guidelines published by the Chartty Cornrnission. OBJECTIVES AND ACTNrriES The Foundatson's object is to promote and advance any charitable pury)ose directty connected wf(h Cranleigh School and in the event that the Schoo5 ceases lo exist lo promote other educational Charitable purposes for the benefit of the community. The Trustees have regard lo the guidan promulgated by the Charity Commission in respect of the provision of public benefit The Tnjstees are
Cranleigh Foundation Trusiees Report 2023 aware of the Chartties Acts, particularty the 2011 Ac( and the responsibility that ihese Acts place on the Foundation and Trustees. The funds raised for, and donated TO, Cranleigh Foundation are building an endowment which has the primary purpose of providing financial support to Foundationer pupils. The Foundation seeks to provide a stable boarding education forchildren who have a signfficant pastoral need, such as losing the support of one or both parents through exception21 or tragic Clrcumstsns. The Foundauon is grateful foT the generosty of parents. 0Sd Cranleighans, friends of the School and corporate sponsors. Reserves Level and Policy The Foundation reserves policy is to maintain funds to establish an endowment whilst incurring as few costs as possible until athe fund-raising re-commencés. The Foundation retained £3,496k of unrestricted funds at year-end and incurred costs of £101 k during the year. The Trustees consider that the level of income and expenditure creates sufficient, and signfficant. reserves to meet future commitments. The bulk of CTanleigh Foundation's funds a unrestricted. There is £87k of funds restricted to speciffc building or bursary projert5 designated within the Foundation's charttable objeGts. Principal Risks and Uncertainties Cranleigh Foundation Trusiees are responsible for the Tnanagement of the risks faced by the Foundation. The generic controls used by the Challty to minimise risks include.. formal agendas for Committee and Board activrty. formal strategic planning, reviewed annualtr, comprehensive budgeting and management accounting-, established organiaational structures and lines of reporbng- compliance wtth regulations that apply to the running of a chanty. declaration of confiicis of interest. renewed at each meeting. The Trustees believe that risks have been mtbgated. CuTrenly. Foundation activty is limited after a period of more intense activity up lo 2014. however fund-raising events raised £25k.The Sutnmer Ba51, which is a fund-raising evenL was held in 2022 and takes place every 3 years. CCLA provide investrnent management adce and Foundation fvnds are invested with CCLA. Investment ris& is spread through the selection of the CCLA COIF Charities Investrnent Fund N%thich 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 prudenly for the future,. provide for a Foundalioner prtwramme with I0 pupils per year normally from years 7- 13 which includes a review of the Foundats"oner selection process and the success of the progmmme.. provide a vision and venue for a long-ten7) endowment fund. Signfficantfunds have been raised by the Foundation since 2008 which have been used to good effect for the Foundationer programme and to assist the School in fvnding new facilities. Fund-raising activity was limited to the annual Christmas fair, however the focus continues lo be on gathering information, within GDPR data protection regulations, in order to build a data base to assist future fund-raising inFbatives. There is not currenuy a nd-raISing strategy and in the medium temi the School will be
Cranleigh Foundation Trusiees Report 2023 appointing a Development Director in this important area to take responsibility for fund-raising across the School wth a proportion of funds raised allor21ed to the Foundauon so that it is able to meet its objects and tasks. CCLA were appointed in late 2017. following a formal tender proc, to manage the Foundation's funds. At 31st ju 2023 £3,224k was invested with CCL& maiong up ihè bulk of Foundation assets. REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR The Foundation received £372k12022= £1.299kl from donations and investrnent in(rne during the year and with fund-raising events lolal income for the year was £397k (2022= £1,569k)- The Foundation receries generous donations from Quent Cranleigh School parents_ The main Tund-raising event in the year was the annual Chrisknas fair. which was held at Cranleigh Prep School in November. The Trustees authorised charitable donations during the year of £98k {2022.' £49kl to Cranleigh School. FINANCIAL REVIEW The Foundation had restricted reseNes of £87k and unrestricted reserves ot £3.496k {2CY22.. £87k and £3,264k respectively) at the end of the year. This is sufficient to meet existing commitrments during the nexL year. The Foundation had no ftjndraising activities requiring disclosure under S162A of the Chartties Act 2011. The Trustees consider that the Foundation's ffnancial posthon, with funds of £3.6m al the point of signing and commitments of less than £10k pa, represents a financi21'going-concern' for the foreseeable fvture and al a minimum period of twefve months. ACCOUNTING AND REPORTING RESPONSIBILITIES The Trustees are responsible for the preparation of the Trustees. Report and the financial statements in accordance vjilh applic3ble law and regulations. Company law requires trustees to prepare financial statements for each finanual year in accordan w7th United lQngdom Generally Aepted Accounting Prartice (United Kingdom Accounting Slandardsl and applicable law. Under company law trustees must not approve the financial statements unless they are satisfied that they gnie a true and fair view of the stale of aTFairs of the charitable company and OT its net incoming or outgoing resources for that period. In preparing these financial statements, the Tnjstees are required to.. select suitable accounting policies and then apply them consistendy. make judgments and estimates that are reasonable and prudent state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that tne charity will continue to operate. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable companls transactions and disclose wth reasonable accuracy at any time the financial position of the charity. These records musl enable the Trustees to ensure that the financial statements compty with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity ancl hen for taking reasonable steps for the prevention and detection of fraud and other iTregularities. Insofar as each of the members of the Board of Trustees at the date of approval of this report is aware there is no relevant audit information linfonnation needed by the charis Auditors in connection wth preparing the audit report) of which the Charitys Auditors are unaware. Each member of the Board of
Cranleigh Foundation TTUStees Report 2023 Trustees has taken all of the steps that he or she should have taken as a member of the Board of Trustees in order to make himseW or herseW aware of the relevant audrt inforniaiion and to establish that the Charity's auditors are aware of that information. Approved by the Foundation Board of Trustees on 16 October 2023 and signed on its behalf by.. er Ichaimianl
Independent Auditorfs Report to the Members of Cranleigh Foundation Opinion We have audited the financial statements of Cranleigh Foundation (e Charitab companll forthe Year ended 31 July 2023 which compNse Statement of Financial Activities, Balance Sheet and notes to the financial statements, including signrficanl accounting p)licies. The financial reporting frarnework that has been applied in their preparation is applicable law and United knngdom Accounting Standards, including Financial Reporting standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Unrted Klngdom Generally Arpted Aco)unting Practi}. In our opinion the financial ststements- give a true and fair view of the state of the charitable CoMpanS affairs as at 31 July 2023 and of its income and expenditure, for the 31 July 2023 then ended.. have been properly prepared in acwrdance with United ngdoM Generalty Accepted ACUnting Practice" and have been prepared in accordance wtth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wth International Standards on Audtting IUKI (ISAS (UKII and applicable law. Our responsibilities under those standards are futher described in thè Auditorfs responsibilities for the audtt of the financial statements section of our report We are independent of the charitable &)mpany in accordance th the ethical requirements that are relevant to our audtt of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provlde a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the tstee$, use of the going GOnM basis of accounting in the preparation of the financial statements i% appropriate. Based on the WO we have performed. we have not identttied any material UnrtaInlieS relating lo evÈnts or conditions that, individually or llectiVely. may cast signfficant doubt on the charitable companls ability lo continue as a golng concem for a period of at least hvefve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tThteeS wth respect to going concern are described in the relevant sections of this reporL Other infomiation The trustees are responsible for the other information contained within the annual reporL The other Snformation comprises the inforrnation included in the annual reporl other than the financial statements and our auditor's report thereon_ Our opinion on the financial statements does not cover the other infomation and, except to the extent Dtherwse explicitly stated in our report. we do not express any fotm of assuran conclusion thereon. Our responsibility is lo 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 audrft or otherwise appears to be materially misstated. If we identTfy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the fin?ncial statements themselves. If. based on the Work we have performed, we condude that there is a material misstatement of this other information, we are required to report that facL We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audtt the information given in the trustees, report, which indudes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent wth the financial statements- and the directors. report included wtthin the trustees. report have been prepared in accordance with appllrable gal requirements.
Matters on which we are r¢quired to report by exception In light of the knowledge and understanding of the chartiable company and their environment obtained in the course of the audit, we haye not identffied maierial misstatements in the directOTS' report included wthin the trustees, reporL We have nothing to report in respect of the followng matters in relation to whith the Companies Act 2006 requires us to report lo you rf, in our opinn- adequate and proper accounting records have not been kept. or the financi21 statements are not in agreeTnent with the accounting records and retums., or rtain disclosures of trust&s' remuneration specified by law are not made., or we have not reIVed all the infom)ation and explanations we require for our audit. Rtsponslbllities of trustegs As explained more fully in the tDJStees' responsibilibes statement set out on page 4. the trustees (who are also the directors of the charitable company for the purposes of compxny law} are responsible for the preparation of the ffnancial ststements and foT being satisffed that they give a true and fair view, and for such intemal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are respongible for assessing the charitable comp2nYs ability to continue as a going concem. digclosing. as applir3ble, matters related tts going concem and using the going concem basis of accounting unless the trustees erther intend to liquidate the Charitab company or to cease operations, or have no realistic altemative but lo do so. Auditovs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran about whether the finanaal slatements as a whole are free from material misstatement, whether due to fraud or error, and to issue an aUdit0S report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audTt conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could aSOnablY be expected to influence the economic deasions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance wth laws and regulations are set out below. A further description of our responsibilitses for the audit of the financial statements is located on the Financial Reporbng Council's website at" ww.frc.o -uklaudilotsres nsibiliti auditorfs report. This description forms part of our Extent to which Ihg audlt was consldered capable of detecting irre9ulariti9s, Including fraud Irregularities, including fraud, are Instan of non-compliance WI laws and regulations. We identiffed and assess the risks of material misstatement of the financial statements trom irregularTbes, whether due lo fraud or error, and discussed these betsveen our audit team members. We then designed and performed audit prOdureS responsive to those risks, including obtaining audit eV[den 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 thai have a direct effed on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companie> Act 2006, the Charities Act 2011 together wth the Charities SORP IFRS 1021. We assessed the required compliance wyth 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 nol have a d1ct effect on the financial statements but wmpliants wlth which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may existwithin the Charitable company for traud. The laws and regulations we considered in this context for the UK operations were General Dats Protection Regulation (GDPR} and Taxation legislatiors. Auditing standards limit the required audFt procedures to identsfy non-compliance wtth these laws and regulations to enquiry of the TTUStees and other Inanagement and inspection of regulatory and *al correspondence, rf any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud. lo be within the timing of recogntbon of ircome and the override of controls by managemenL Our audit procedures to respond to these risks induded enquiries of managemenL the FinanTr Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, analytical review and sample testing of income, reviewng accounting estimates for biases, reviewing regulatory correspondence with the Charity Commissn. and reading minutes of meetings of those charged wth govemance. Owing to the inherent limitations of an audit, there is an unavoKlable risk that we may not have detected some materlal misstatements in the financial statements, even though we have propedy planned and perfomed our audffc in accordan audTbng standards. For example. the further removed non-compliance wrth laws and regulations {irregulartbesl is from the events and tran¢tiOnS reflected in the financial statetnents, the less likely the inherently limited procedures required by auditing standards would identify it In additTon, as with any audit, there remained a higher risk of non-detection of iTTegularities, as these may involve collusion, forgery, intentional omissions, misrepresentauons, or the override of intemal controls. We are not responslble for preventing non- Complian and cannot be expected to detect non-complian all Lqws and regulations. Use of our report This report is made solely to the charitable companws members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 20C)S. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not apt or assume responsibilty to anyone other than the charrtable COTnpany and the charttable compans members as a body, for our audit work, for this report, or for the opinions we have fomied. Nicola May Senior Statutory Auditor For and on behalf of Crowe U.K. LLP statutory Auditor London Dale: 7th December 2023
CRANLEIGH FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES {Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 JULY 2023 Unrestricted Restric Funds Funds £'ooo £'ooo Note 2023 £'ooo 2022 £'ooo INCOME FROM: Investment income 90 90 Donationsllegacles 282 282 1,253 Fundraising events 25 25 270 Total 397 397 1,569 EXPENDITURE ON: Raising funds 148 Charltable a¢tivitigs 98 98 49 Total 101 101 197 NET INCOME BEFORE TRANSFERS AND INVESTMENT GAINS 296 296 1,372 Gainsl{losses} on investments {64) 164) 151 NET INCOME 232 232 1.367 Transfer between funds NET MOVEMENT IN FUNDS 232 232 1.367 Balances brought forward at 1 August 2022 3,264 87 3,351 1,984 BALANCES CARRIED FORWARD 31 JULY 2023 3,496 87 3,583 3,351
CRANLEIGH FOUNDATION BALANCE SHEET AS AT 31 JULY 2023 Note 2023 £'ooo 2022 £'ooo NON CURRENT ASSESTS Investments 3,288 CURRENT ASSETS Debtors Cash- at bank 10 459 117 117 3.693 3,405 CREDITORS- Duewthin one year 1110} (54} NET ASSETS 3,583 3.351 RESTRICTED FUNDS 87 UNRESTRICTED FUNDS 3,496 3,264 TOTAL FUNDS 3,583 3,351 Approved and authorised for issue by the Trustees on 16 October 2023 and signed on their behalf by MJM (Chaiman) The notes on pages 11-14 foTh part of these accounts 10
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 ACCOUNTING POLICIES The accounts (financial statemenlsl have been prepared in actordance with the Charities SORP IFRS1021 applicable lo charities preparing their accounts in accordan wth FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland and the ChaTities Ad 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. Cranleigh Foundation meets the definOn of a pUbr ben8fft entty under FRS 102. Assets and liabilities are initialty recognised al historical cost or transa(on value unless othervjise staled in the relevant accounting policy notels). The Foundation's ReseNes poliw has been relatNety unaffected by Cowd-19 gtven the policy of limited fund- raising together with a small cost base.The Trustees consider th the level of income and expendtture creates SLrfficienl and signffi¢anL reserves to meet fijlure tt Cowd-19. committments and eontinues as a going concern. Cranleigh Foundallon. as a subsidiary of Cranleigh SchcNJl (see note 10) has elected to take the exwnption to not present a statement of cashflows as prescribed in FRS 102 1.11 and 1.12lbl. 1,1 Critical a¢counttng judgements and key sources of estimation uncertainty In the application of the charivs accounting poliue5. trustees are required lo make judgements, estimates. assumptions about the carying values of assets and liabilities that are not readity apparent from other sources. The estimates and underlying assumptions are based on historical experien and other factors that are considered trj be relevant. Actual resuKs may drffei from these estimates. The estimates and undertying assumptions are reviewed on an on-going basls. Revisions to accounting estimates are recognised in the period ir which the estimate is revised rf the revision affects onty that period or in the period of the revision and future Ftri¢xls rf the rewsion affects the current and future periods. In the view of the trustees. no aUmptionS cOnmIng the futtjre or estimation uncertainty affecting assets and liabilrties al thè balan sheet date are likely to result in a material adjustrnent to their carrying amounts in the next financial year. 1.2 Income Income is included in the Statement of Financi Actwities when the charity is legally entitled to the income, the amount can be quantified WEth reasonable accuracy and the likelihood of receipt of the income is probable. 1.3 Expendtture Expendliure is recognised On there is a legal or constructive obligation to make a payment to a third paty, it is probable that sewemenl will be requir arxl the amount of the obligation can be measured reliably. Support costs are those functions that assist the work of the charity bui do not dire¢Uy undertake charitsble activities. Support costs include back oifice costs, finan. personnel, payroll and govemance wsts which support the charity's educational operations and actNrties. 1.4 Funds Structure Restii¢led funds are funds to be used in accordance wtih the Specif r&stri(on5 irnposed by the donors or for the specrfic purposes specffied when requesting donations. Unrestri¢ted funds comprise those fun¢ which the tswstees are free to use for any PUTpose in furtherance of the charitable objects. 11
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 1.5 Taxation The Foundation, as a regi8tered charrty, is able to take advantage of the tax exeMpln$ available lo charities. Accordingly. there is no cortKxation tax payable on the net inojming reurceS. 1.6 Cash flow The Foundation, as a wister&J cr[ty and subsidiary of a group which prepares publicslly available consolidated financial slatsments, is able to take advantage of the cash fiow exemption. 1.7 Investments Listed investments are valued at market value as at balan sheet date. Unrealised gains and losses arising on the revaluation of investments are credited or ¢harged to the Statement of Financial ActiVeS, alloixted to the appropriate Fund according to the"tr*vnership" of the undedwng assets. 2. EXPENDITURE 2023 £'ooo 2022 £'ooo Raising funds Fundraising events Charitable activities Donations to Cranleigh School Support cosis and governance 148 90 98 49 Total 101 197 Included in the above is the fee for the slatulory audft of £3.72012022= £3.380) None of the Trustees have bn paid any remuneration. No Trust expenses have been incurred. 3. INVESTMENTS 2023 £'ooo 2022 £'ooo Balance at 1 August 2022 Additions Disposals Gn / {loss) on investrnents Balance at 31 July 2023 3.288 1,663 1,630 3,224 3,288 Investrnerrts are all hdd within listed investments at 31 July 2023 4. DEBTORS 2023 £'ooo 2022 £'ooo Legacies Other 10 5. CREDITORS 2023 £'ooo 2022 £'ooo AcCrUS Deferred Income (deposits held for 2023 ChristnTrs Fundraiser) 98 12 110 49 12
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 Balan 011Q18r22 Balance 31107123 £'ooo 22 65 87 6. STATEMENT OF FUNDS Irne Expenditure Gainsl(losses1 Transfers £00 £000 £'ooo Loveday SchoLarship Fund Other Total Restricta Funds 87 Total Unrestricted Funds 3.264 397 1101) 164) 3,496 Total Funds 3,351 397 11011 (64) 3,583 Allocation of Net Assets to Funds £3.224k of the funds are held as non current assets Vth the balance as currenL Balance 011081 Balance Income Expenditure Gain51llossesl Transfers 31107122 £ix)o £'ooo £'ooo 22 65 87 7. COMPARATPIE STATEMENT OF FUNDS Loveday Scho12rship Fund Other Total Re5trKted Funds 65 87 Total Unrestricted Funds 1.897 1.569 (19n {51 3,264 Total Funds 1.984 1.569 119n {51 3,3S1 Total Cuent Current Current Assets Liabilrties Net Assets £'ooo £'ooo ALLOCATION OF NET A5SErs Non Current The net assets held for the various fvnds: £'ooo Restricted Reserves General Reserves 87 382 87 3.496 3.224 11101 Total Reserves as at 31 Juty 2023 3.224 469 11101 3.583 Total Current Current Current Assets Liabilities Net Assets £'ooo £'oDo £'ooo 9. COMPARATNE ALLOCATION OF NET ASSETS Non Current Assets £'ooo The net assets as at 31 Juty 2022 as held for the various funds.. Restricted Reserves General Reserves 87 3,264 3.288 30 (541 Total Reserves 3.288 117 {541 3,351 10. PARENT ENTITY The charttable company is a wholty owned subsidiary of Cranleigh School, a charrtable company incorporated in England. Copies of the annual accounts of Cranleigh School are available frcffn the Company Secretsry, Cranleigh S¢hool . Cranleigh, Surrey. GU6 8QQ 13
CRANLEIGH FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 11. RELATED PARTY TRANSACTIONS The have bn no related PaTty transactions that require disclosure. 12. CHARITY INFORMATION The charty is a private compary (registered numtr 6452540) by guarant, which is incorpDr8ted snd domiciled in the UK and TS a public benefrt entity. The address of the registered Offi is Cranleigh School, Horseshoe Lane. Cranleigh, Surrey GU6 8QQ. 13. FINANCIAL INSTRUMENTS The charty has finanaai assets and financial liabile$ of a knnd that qualify as basic finanGial instruments. Basic finan¢ial instwments are intbally recognIs at transathon value and subswuently measured at amortised cost using the effective inte1 method. Financial assets held at amortised cost Comprise cash and bank and in hand, together with trade and other debtors. Financial liabilthes held at amortised cost comprise bank loans and overdrafts. trade and other cteditors. Ai the balance sheet date the chartty held financial assets al amortised cost of £459k (2022.. £117kl. Financial assets at fair value through income or expendtture of £3.224k (2022= £3.288k) and Financial liabilities at amorttsed cost of £110k12022'. £54k) 14. COIAMIThIENTS There are no (3Pital and revenue commttments other than those ttems recognised as liabillbes in the financial statements 15. STATEMENT OF FINANaAL ACTMTIES - COMPARATIVE FIGURES Unrestricted Funds eoc Restricted Funds £'ooo 2022 £'ooo INCOME FROM: Investment income Donationanegacies Fundraising events 46 1,253 270 1,253 270 Total 1,569 1,569 EXPENDITURE ON: Raising funds Charitable activities 148 Total 197 197 NET INCOME 1.372 1,372 Gainslllosses) on 5nvestments Transfer between funds NET MOVEMENT IN FUNDS Balan brought forward at 1 August 2021 BALANCES CARRIED FORWARD 31 JULY 2022 15} 15) 1.367 1,897 3,264 1,387 1,984 3,351 87 87 14