ReBi5tered Charlty No. 1130571 Company No. 06946733 A5hvllle Foundatlon Report and Financial Ststements 31 August 2020 A5hvllle Foundation REPORT AND FINANCIAL ￿ATEmENTs Year ended 31 August 2020 coMrEN75 Page Trustees. report ststement of Tru5tees' responslbllltles Independent exomlner'5 report ststement of financlal athltles Balance Sheet Notes to the financlal ststements hvllle Foundatlon TRUSTEES. REPORT Year ended 31 August 2020 REFERENCE AND ADMINI￿RAT[vE DEfAILS OF THE CHARtrY, tts TRusfEES AND ADVISERS Thè Trust is registered with the Charlty CommissiL7ners under charity reference number 1130571. The Board of Trustees is a se￿-appoIrttlng body and all the Tru5tEes. detailed below, have served throughout the perlod and 5ub5equently, except where indlcated. Date of AppointmenVRe5ignatlon PA Holt (Chairl GML Hirst IC Search OR 8ulmer Resigned 20 November 2019 Resigned 23 july 2020 Resigned 31 Au8U5t 2020 Appointed 20 November 2019 Appolnted 4 March 2020 R Marsh811 IP Whitèley NJ Stamford IE Brown Officers Secretary,, H Aindow IAppointed 14 January 20201 NJ Edwards (Appointed 5 December 20201 PA Htslt Green Lane, Harrogate, North Yorkshire. HG2 91P Chalr.. Reglsiered address.. Advlsers Banker5 HSBC PLC, 7 Prtsspect CrescenL Harrogate, North Yorkshire, HGI IRN Independent examiner 5affery Champness LLP Mitre Hnusè, North Park Road Harrogate HGISRX Solicitors Lupton Fawcett LLP Yorkshire House East Parade Leeds LSI 5BD Ashville Foundatlon TRu￿EES, REPORT Year ended 31 August 2020 Charitsble Objects The principal activity of the Foundation 15 to provide bursaries and other financial support to current and prospectivè pupi15 of Ashville College who would otherwise be unable to attend the College. The Foundation mèets the definition of a public benefit entity under FRS102. The Trustees Confirm thatthey have had regard to the guidance contained in the Charity Commission's general guidance on public beneflt when reviewing the Foundation'5 aims and objective and in planning actlvitles. Achkvements and performancE The main focus in the year to 31 August 2020 has been to provide additionBI support to Ashville pupils and familie5 In need during the coronavirus pandemic, through the provision of bursaries to cover school fees. During the year the Foundation provided support to 30 pupils. Flnanclal Revlew The Foundation, with the support tsf College staff, has a150 been active in trylng to Increase the awarene55 of the Foundation and its activltles. Total income ftsr the year was £3.50,.58512019.. £24,556), which included a one off donation of £200,000 frorn A5hvllle College. Reserves Pollcy The Dlrectors, policy is to maintain sufficient reserves at the year-end to coverthe Foundation's commitments for the following year. At 31 August 2020 ihe reservès were £326,97612019.. £33,4921 and this was sufficlent to cover the commitments made for the academic year 2020121. Structure. Governance and management The charity15 8nverned by the memorandum and articles of association Incorporated 29 Aprll 2009. Ashville FoundiÉ tion is a charltable company. The 8overning body shall be made up of at least three ond not more than nlne trustees. Trustees shall include.. Ex-tsffico.. Chair of Governors Headmaster of Ashvllle CDlle8e One third must retire by rotation each AGM other than ex-offlco tru5tee5. Retirees can be reappointed for a maxlmum period of nlne years. Related Partles Theie is a c105e relatlon5hip between Ashville Collegè and the Foundation with a number of Governors of the ColleBe also being directors of the Foundation. Audltors The dirertors Df the company have decided not to ap￿int auditors. By order of the board PA Chalrman 24 June 2021 A5hville Foundatlon srATEMENT OF TRU5fEES' RESPONSIBIUTIES Year ended 31 August 2020 The trustees are responsible for preparing the trustees, report and the financial statements In accordance with applicable13w and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charitie5 in England & Wales requires the trustees to prepare financial 5taterrents for each financial year which give a tiue and fair view of the state of affairs of the charity and of the incoming resources and applicatior) of resource5 of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them conslstently.. observe the rnethod5 3nd principles in the Charities SORP IFR51021,' make judgemEr¥t5 and estimates that are reascinable and prudent", state whether applicable accountlng standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the flnancial statements on the going Eoncern basls unless it is Inappropriate to presume that the charity will contlnue In business. The. trustees are responslble for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wlth the Charltles Att 2011, applicable accounting regulations and the provisions ol the trust deed, They are also re5pon5ible for Safeguarding the assets of the charity and hence fcir taking reasonable steps for the prevention and detection of fraud and other Irregularitles. Ashville Foundation INDEPENDETr￿ EXAMINER'S REPORT TO THETRusfEES OF ASHVILLE FOUNDAnON CHARITABLE COMPANY (YHE COMPANY) Year ended 31 August 2020 I report to the tru5tee5 on my examination of the accounts of the Ashville Foundation (the Company) for the yèar ended 31 August 2020. Re5peLtfve ￿sponsIbIlItIeS of trustees and examlner A5 the charity's trustees of the Company18nd 8150 its directors for the purpn5es of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companle5 Act 20061'the 20D6 ACYI. Having sailsfled myself that the account5 of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatlon, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charitie5 Art 20111'the 2011 ACVI. In carrying r)ut my examination I hawe followed the Directions given by the Charity Commtssion under section 145151 Ibl of the 2011 Act. Ba51s of independent examlnerfs report My examlnation was carried out in accordance with the general Dlrections given by the Charity Commlssion. An examination includcs a review of the accountlng records kept by the charity and a comparison of the accounts presentèd wirh those rer.ords. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanatlons frDm you a5 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be rèquired in an audit and consequently no opinion is given as to whether the accounts present a 'true and falr viev/ and the report Is limited to those matter5 set uut in thè slaiement below. Independent examlnerfs statement Since the Company's gross Income exceeded £250,000 your examiner must be a member Of a body listed In section 145 o>f the 2011 Act. I confirm that l am qualified to undert8ke the examination because l a member of the ICAEW, which is one of the listed bodles. I have complèted my oxamination. l Confirm that no matters have come to my attention In connection wlth the exarninatlon giwing me cause to believe.. l. accountin8 records were not kept In respect of the Cornpany as required by 5ectlon 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 requlremènts of sectlon 396 of the 2006 Act other than anv requirement that the accounts 8ive 8 'true and fair view, which is not a matter considered as part of an Independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles nf the Statement of Recommended Prattice for accounting and reporting by charilie5 applicable to charities preparing thelr accounts in accordance with the Financlal Reporting Standard applicable in the UK and RepubliL vl Ireland IFRS 1021. I have no concerns and have corne across no other m8tters in Connection with the ex8minatlon to which attention should be drawn in this report in Drder to enable a proper understanding of the accounts to be reached. Signed.. Salty Appleton FCA For and on behalf of Saffery Champness LLP Mitre House North Park Road Harrogate HGISRX Date.. 24 June 2021 A5hville Foundation STATEMENT OF FINANCIAL A￿1VITIES Year ended 31 August 2020 Unrestritted Restricted Total Funds Total Fund5 2020 2019 Note INCOME.. Income from dona￿0￿5 and legacies Legacy income Income from charltable attfvltles Donations received Investment Income Interest received TOTAL INCOME 121.086 12J,086 229,493 229,493 24,550 12L086 229,499 350,585 24,556 EXPENDrruRE.' Charitsble expendlture Bursaries, prizc5 and scholarships Operating Èxpènses Independent Examination fees TOTAL EXPENDITURE 53,588 53,588 13 3,500 57.101 28,347 13 3,500 3,513 53.588 28,347 INCOME FOR THEYEAR 117.573 175.911 293.484 13.7911 NEf MOVEMENT IN FUNDS 117.573 175.911 293,484 13.7911 TOTAL FUNDS 8ROUGI.IT FORWARD TOTAL FUNDS CARRIED FORWARD 33,492 209,403 33.492 326.97G 37,283 33,492 117,573 All income and expenditure derivcs from continulng operations, There are no recognised gains and105se5 for ihe current and prior period other than a5 5tsted above. See note 6 for a comparative analysls of the 2019 Statement of Financial Activities. Ashvllle Foundation BALAN￿ SHEEr Year ended 31 Au8USt 2020 Unrestricted Funds Restritted Funds Total Funds 2020 Tot31 Funds 2019 Note CURRENT ASSErs Dèbtors- amounts falling due within one year Cash at bank and on deposit 121,086 1131 167,375 42,028 288,461 42,015 38,752 121,073 209A)3 330,476 38,752 CREDrroRS- amounts fallln8 due whhln oneyear 13.5001 13,5001 15,2601 NEf CURRENT ASSErs 117,S73 209,403 326,976 33,492 TOTALASSEfs LESS CURRENT UABILITIES 117.573 209,403 326,976 33,492 ASSErs 117,573 209,403 326,976 33,492 FUNDS Restricted Unrestricted 209.403 209,403 117,573 33,492 117,573 117,573 209.403 326,976 33.492 See note 7 for a comparatlve analysls of the 2019 total balances. For the year endlng 31 August 2020 the company was entitled to exemptlon from audit under section 477 of the Companlos Act 2006 relating to small companies. The Trustees acknowledge their responsibillties for complyln8 Wlth the requirements of the Act with respect to accountlng records and the preparation of accounts The mernber5 have not requlred the company to obtain an audit of its accounts for the year In questlon in accordance with section 476, These accc>unts have been prepared in accordance with the provlslons applicable to companies subject to the small companle5' regimc. These financial Statements of the Ashvllle Foundation company number 06946733 were approved by the Board of Trustees and authorised for Issue on 2021 and signed on their behalf by.. PA Holt IC Ashvllle Foundation NOTES TO THE FINANCIAL STATEMEMrs Year ended 31 August 2020 ACCOUTrfflNG POLICIES The Charity is registered with the Charity Commission under registration number 1130S71. The principal accounting policies adopted by the Trustees are described below. Basb of A¢countlng The financial Statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice "Accounting and Reportillg by Charities ISORP 20191- applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 1021, effective I January 2019. and the Companies Act 2006. Bas19 of preparatlon of financlal ststsments-8oln8 concern bas55 Tho Directors, havin8 taken account of projected future income and the existing levels of reserves held wlthin the charity, believe that the Foundation has odequate re50ur¢es to continue its activitie5 for the foreseeable future. Accordingly, they continue to adopt the golng concern basis in preparing the financial staternents. Income All income is recognlsod in the statement of financial activities when tlIE charily has entitlement to the funds. conditions for receipt have beer) met, 5t is probable that the income will be recelved and the amount can be meèsured rellably. The following accounting policles are applled to Income.. Donotions ond legocies Donations received are recognlsed In the Statement of Financial Artlvltles in the perlod In which the charlty Is entitled to receipt. Investment income Interest intome Is reco8ni5ed as It is received. Expendltrjre Direct chorltoble expenditure Direct charitable expenditure includes all expenditure directly related to the objects of the charity and Includes the following.. 8ursories, prizes Gnd schol(7r5hips Scholarships and prizes are accounted for when the Tru5tee5 have accepted a le831 or moral obligation to make the expenditure. Operuting 8xpenditure Othèr expenditure represents expenditure Incurred in the management of the charity's assets, organis8tional dministratirjn, and compliance with constitutional and Statutory rÈquirement5. Donated servkes Ashville College employees provlde adminlstratwe assistance to Ashville Foundation. As this is small and not easily quantifiable, no adjustment has been included in the financial statements for thi5. FEEnd accounting The trust holds the following funds.. Unrestricted funds these funds ¢an be used in accordance with the charitable objects at the discretion of the Trustees Restricted funds- these funds can only be used fDr 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 Ashvllle Foundation NOTES TO THE FINANCIAL STATEMEN15 Year ended 31 Au8ust 2020 Flnanclal Instruments Financièl assets ènd financial liabilitie5 are recognised when the charity becomes a party to the contractual provisions of the instrument. All fin8ncial assets and liabilities are initially measured at transaction price Ilncluding transaction costs). The charity only has financial a55ets and financial liabilities of a kind that qualify as basic financial instruments. Basic financlal instruments are initially recognised at transactlon value and subsequently measured at their settlement value. Taxatlon As a registered charity the Foundatio)n is exetnpt from income tax on its ch8ritèble activities. Crltlcal aCCOL2ntln8jud8ements and keysource5 of estlmatton uncertalnty In the application of the charity's accounting policies, which are descrlbed above. the Trustees are requlred to make jud8ements, esLimates and assumptions about the carrying amounts of a.%se.ts and liabilities that are not readily apparent from other sources. rhe eslimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differfrom these estlmates. The estlmatgs and underlylng assumptions are reviewed on an on-80in8 basis. Revisions to accounting estimates are recognised in the period in which the estimate Is revised if the revision affects only that peritsd, or in the period of the revislon and future perlods if the revision affect5 both current and future periods. The Trustees do not consider there are any critical judgements or sources of estimatlon uncertainty requirlng disclosure beyond the accountlng pollcle5 listed abov?. 2, MOVEME￿ IN FUNDS Net mov¢ment funds for rhe year is ststed after charglng.. Unrestrlrted Unrestrlcted 2020 2019 Independent Examlnatlon Fees Trustee Expenses 3,500 13 3,513 The Trustees received no remuneration or expenses in the performance of their duties as Trustees of the Trust in the current or prior year. Trustees were reimbursed for expenses at a tDtal of £1312019.. £nill. DEBTORS 2020 2019 Amountsfalllng due wlthln one year Due from A5hville College Accrued Incc>me 167,375 121,086 288.461 Ashville Foundatlon NOTES TO THE FINANaAL ￿ATEmENTs Year ended 31 August 2020 4. CREDrroRS: AMouKfs FALLING DUE W￿H1N ONE YEAR 2020 2019 Accruals Amount due to Ashwille College 3,500 5,260 3,500 5,260 FUNDS Balance as atl September 2019 Incomlng resources Resources expended Funds Balance as tyansferred at 31 August 2020 Unrestrlcted funds 121,086 13,5131 153,5881 117,573 Restricted funds 33,492 229,499 209,403 Totsl funds 33,492 35Q,585 157,1011 326,976 2019 cornparatfve fl8ures Balance a5 atl September 2018 Incomln8 resourees Re50urces expended Funds transferred Balance as at31 Au8USt 2019 UnrestrictEd funds Restricted funds 37.283 24,556 128,3471 33,492 Totsl fund5 37,283 24,556 128,3471 33,492 Restricted fund combines all bursarie5 and financial help given to parents to allow children who would not normally be able to attend A5hville College, the opportunity to attend. Unrestricted funds had a balance of £117,573 at 31 August 202012019.. £nill following legacy income in the vear. 5hvi1Se Foundatlon NOTES TO THE FINANCIAL STATEMENTS Year ended 31 August 2020 6. ￿ATEME1ff OF FINANCIALA￿NIES- COMPAIiATIVE FIGURES BY FUND-TYPE Unrestricted Funds Restrltted Total Fund5 2019 Ncite INCOME.. Charttsble Income- 5UPPOrt of educatlon Interest re¢elved Donations received TOTAL INCOME 24,550 24,556 24,550 24.556 EXPENDITURE: Charitsble expendlture: Bursarles, prizes and scholarships awarded TOTAL EXPENDrruRE 28,347 28,347 28.347 NEf ￿PENDrrURE FOR THE YEAR 13,7911 13,7911 MOVEMENT IN FUNDS 13,7911 13,7911 roTAL FUNDS BROUGI.IT FORWARD TOTAL FUNDS CARRIED FORWARD 37,283 33,492 37,283 33,492 7. BALANCE sHE￿- COMPARATIVE FIGURE5 BY FUND nr trltt Restritted Total Funds 2019 Note CURRE￿ ASSErs Debtors- amounts fallir)g due within one year Cash at bank and on deposlt 38,752 38,752 38,752 38,752 CAEDrroBs: amounts falllnq due wlthln one year 15,2601 15,2601 NEfcuRRENT ASSEfs 33,492 33,492 M￿ASSE[S 33,492 33,492 FUNDS Restricted Unrestricted 33,492 33.492 TOTAL FUNDS 33,492 33,492 Related Partytran5actions During thÈ year £206 was received as a donation from a Trustee. io