Charlty number.. 1125232 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION UNAUDITED TRUSTEES, REPQRT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 WR -t Partners Protecting your future. BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION CONTENTS Page Roferen¢è and adminlstrattve detalls of the Charfty, Its Tru8toos and advlsgrs Trust6es' report Ind8p8ndènt examlneffs report statomènt of financial activltle8 Balance shèet Not&s to lh& flnanclal Statements 8-12 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHA￿TY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Tru¥tsgS Mrs A Bamford Mr M Freathy Mrs S Underhill Mr B Worth Charity reglstered numbgr 1125232 Prlnclpal offlce Nc>rthgale Bridgnorth WV16 4ER Accountants WR Partners Chartered A¢counlanls B&lmonl House Shrewsbury Busin8ss Parf( Shrewsbury Shropshire SY2 6LG Fage 1 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees present their annual r8POrt together with the financial statements of the Charity for th8 y8ar 1 September 2019 10 31 August 2020. ObJoCtlvo8 and actlvltlas Pollcl•s and obj8ctivgS The Prlnelplè obleel of the charity is lo advance the education of the PLtpils attending Bridgnorth Edowed School by providing and assisting in the provision of such facilities or il&ms al the school (not provided from slatulory funds) as the Irusloes shall frorH lime to lirlle determine. In setting objectives and planning for aclivllles, the Trustees have glven due conslderation lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IPB2}'. b. Strat8gi8$ for g¢hievlng obloctlvos The charity raises funds lo achi&ve ils objectives through fulldraising events and donations. The COVID Pandemic has imp8cled greatly on thè ability lo hold fundraisin9 evénts and in receiving of donations since March 2020. Therefore tha ability lo achieve the chaiity objectives and support Bridgnorlh Endowed School has subsequently been impactèd. The Trustees and $chog1 leaders will look lo develop the ability lo fundraise further once the current situation has improved. Achlev&m•nts and performanc8 a. Revlew of actlvltles During the year. the charity supported the Bridgnorth Endowed School by financially assisting a reduced number of acliwties due lo the COVID pandamic and th8 impact on th8 abilty to fund raise. Financial revlew Golng concern After making appropriate enquiries, the Trustetss have a reasonable expectation that the Charity has adèquate resources to conlinLJ& in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. b. Roservos poli¢y The charity aims lo hold reserves of a suitable amount lo &nsur& that ivs opening funding for the school, which rt supports, Is available, This is based on the knowledge Elf upcoming 8venls and trips which are lo be funded. The free reserves ol the charity at the end of the financial year were £56,871 12019.. £45,762). ¢. Pr5nclpal rlsk8 and un¢ertalntlè$ The major risks lo which the charity is exposed. as identified by the Trustees, have been reviewed and systems have been established to miligale those risks. Page 2 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2020 Flnanclal ravlew Icontinu8dl d. Cu8todlan funds The charity holds funds received for subscription lo a School Buslness Manager ne￿OrK group (Shirès Educational Business Associalionl. This fund provides online support I reSoU￿S I CPD for educational professionals to support them, their schools and students therefore falls within the custodian charity's objeds of educalic)nal support. The funds are held in a separate cost centre within the school fund which provides a clear Sagr￿allOn of fund$ from the charity's own assets. During thè y8ar ending 31 August 2020, th8 fund received income of £5,350 and ?xpendiluro of £4,822. The balance ol the SEBA funcls al the end of the year stood al £4,467, and are included within the bank balance on thè balance sheet. stru¢tur•. govèrnance and managemont a. Constitutlon Bridgnorth Endowed School Fund Association was conslituled by Deed on 14 May 2008 and is registered ￿th the Charity Commission under charity nurnber 1125232. b. Mothods of appointment or election of Tru$tO9S Th8 management of the Charity is the responsibility of the Trusl8es who are elected and c￿opt@d under the terms of the Trust deed. Organisatlonal structure and declslon-maklng pollciès The charity is managed by ils Board ol Trustees. The day to day management and d@cision making of the charity is delegated to hmo of ils Trustee8, who are also members of the Board of Govemors of the Academy Trust which the charity supports. The Trustees of the charity do hold me8tings whereby any important deeisitins are made and the general strategic plan for the charity is set. d. Related party relationshlps Th& charity fundraises for Bridgnorth Endowed School, an Acaderny and ￿mpanY registered in England and Wales with common directorsllrusl*s. Plans for futurè poriods The charity is continuing lo look for additional ongoing fundraising and ways of increasing donation funding more so than ever following the COVID pandemic and the impact il has had on school funding. Page 3 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Statement of Trust••s' r¢spon$ibllltle8 The Trus18es are responsible for preparing the Trusleas, report and the financial statements in accordance with applicabl& law and United Kingdom Accounting Standards Iuniled Kingdom Generalty Acceplad Accounting Practice). The law applicable to charities in England & Wales requires the Trustees lo prepare financial staloments for each financial year which yive a true and fair view of the 81ate of affairs of the Charity and of ils incoming resourGes and application of resourc8s, including its income and expenditur6, for that P8riod. In pr8paring these financial statements, the Trustees are requir8d lo.. select suitable accountin9 policies and Ih8n apply them Consistent￿-, observe the methods and principles of tha Charities SORP {FRS 1021., ake judgments and accounting eslimales that are reasonable and prud@nl', slate whethèr applicable UK Accounting Standard8 IFRS 1021 hav8 been followed, subject lo any rllalerial departures disclosed and explained in the financial slatem6nts', prepare the financial slalemenls on th8 going concern basis unless it is inappropriate lo presum8 Ihal the Charity will Continue in business. The Trust8&s ar8 r&sponsible for keeping adeguale acwunling records that aTe sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy 8t any lime the financial position of the Charity and $nable them lo ensure that the financial slalgmgnts comply with the Charities Act 2011, the Charity IAccoLJnt5 8nd Reportsl Rpaulatinns 2nn85 gnd the proviRions of the Trust d8ed Th8y also r•sponsible for safeguarding the assets of the Charity and honce for laklng reasonable steps lor the prevention and dele¢lion of fraud and other irregularities. Approved by order of the mernbers of the board of Trustee8 on 291d21 ond signed on their behalf by.. Mrs S Undorhlll (Trusleel Page 4 BRIDGNORTH ENDOWED SCHOOL FUNDASSOCIATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020 Indopend•nt Examln#Vs Rèport to the Trustoe8 of Brldgnorth Endowed School Fund A$8ocSatlon I'the Charlty'l I report lo the charity Trustèes on my Èxamination of the accounts of the Charity for the Ye￿ ended 31 August 2020. Respon8ibilitie8 and Ba818 of Report As the Trustees of the Charlty you are responsible for the preparation of the accounts in acwrdance with the requirements of the Charities Act 2011 I'the 2011 Act'i. I rèport in respe¢l of my examination of the Charity's accounts cathed out Und￿ sèction 145 of the 2011 Act and in earrying out my examination I have followed the applicable Dir8clions given by the Charity Commission under section 14515llbl of th8 2011 Act. IndBpendont Examlnor's Statèm8nt Your allenlion is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Slal@menl of Recomrnended Practice applicable lo charities preparing thèir accounts in a¢cordan¢e with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preferenc@ lo the Accounting and Reporting by Charities.. Slalemenl of Recommended PraCt￿e issued on 1 April 2005 which is referred lo in the extant règulations but has b&en withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair vi8w in accDrdance with th8 Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirrn that no matters have corne lo my attention in ¢onThe¢lion with the examination giving me cause to believe Ih?l in any material respect.. accounting reeords were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord Mrilh those records., or the accx)unls do not comply with the applicable re4uiremenls concemlno thè form and content of accounts sel out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that th@ accounts give a 'true and fair, view which is not a maller wnsidered as part of an independent examination. I have no con￿M6 and havé comè aeross no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report is made solely lo the Charity's Tru8tee8, 88 a body, in accordance with Part 4 of the Charities (Accounts and Reports) Règulations 2008. My work has been undertaken so that I M￿h1 stale to the Charity's Trustees those matters l am required 10 Stale lo them in an Independent examin6¢s raport and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the Gharity and the Charity's Trustees as B body. for my work or for this r&port. Signed.. Dated.. 3010612021 T Lunt BA FCCA MIRPM WR Partners Belrnonl House Shrewsbury Businoss Park Shrewsbury SY2 6LG Page 5 8RIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 Unr88trf¢t&d fund8 2020 Total funds 2020 Totol funds 2019 Note InGome from: Charitable income 117,693 1 q7,693 135,217 Total income Expendlturo on: Chorilable expenditure 117,693 117,693 135,217 106,584 106,584 IT7,05Q Total oxpendlturè 106.584 106,584 177,050 Net movement In fund8 Roconciliation of funds.. Total funds brought forwafd Net movement in funds 11.109 11,109 (41,833) 45.762 11,109 45,762 11,109 ST,595 (41,633) Total funds carried fonvard 56,871 56,871 45, 762 The Statement of Financial Aetivib'e8 Includes all gains and losses rècognisod in the year. The notes on pages 8 to 12 form parl Df these flnancial slalernents. Page 6 BRIDGNORTH ENDOWED SCHOOL FUND ASSOCIATION BALANCE SHEET AS AT 31 AUGUST 2020 2020 2019 Noté Fixod a8$ets Curront as¥ets Cash al bank ond in hand 61.890 7f,707 61,890 T1,707 Craditors.. amounts falling due within one year 15,019 (25,945) Not current assets 56,871 45,762 Total ngt assots 56,871 45,762 Charity funds UnT8Strict8d fund6 66,871 45,762 Total funds 56,871 45,762 The financlal statements were approvecl and authorised fcir issu¥ by the Trustees on ¥ L&zi and signed on their behalf by.. Und8rhill ITrusleel The notes on pages 8 to 12 ftsrm part of these financial slalemenls. Page 7 BRIDGNQRTH ENDOWED SCHOOL FUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 General infomiation Bridgnorth Endowed School Fund Association was consh'luted by Deed OTr 14 May 2008 and is registered with the Charity Commission under charity number 1125232. The principle objscl ol thè charity is to advanca the educAlion of thè pupils attending Bridgnorth Edowed School by providing and a6sisling in the provision of such facilities or items al the school Inol prDvided from statutory funds) as the trustees 8hall from timé lo lime determine. Accountlng polleles 2.1 Ba81s of preparation ol financial statements The financial statements have been prepared in accordancè with th8 sècond adition Charities SORP IFf