ReBlstered Charlty No. 1130571 Company No. 06946733 Ashville Foundation Report and Financial Statements 31 August 2024 Ashville Foundation REPORT AND FINANCIALSTATEMENTS Year ended 31 August 2024 CONTENTS Page Trustees, ￿port strtement of Trustee5' responsib111ties Independent examiner's report Ststement of financlal actlvltles Balance sheet Notes to the financial statements Ashville Foundation TRU5TEE5' REPORT Yearended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS The Trust is registered with the Charity Commissioners under charity reference number 1130571, The Board of Trustees is a self-8ppoiritin8 body and all the Trustees, detailed below, have seived throughout the period and subsequently, except where indicated. Date of AppointmentlRe518nation Reslgned 31, Aug 2024 PA Holt (Chairl JC Search Resigned 31, Aug 2024 R Wilkinson N Hair Appointed 1st Sept 2023 Appointed 1st Sept 2024 Appointed 1st Sept 2023 G styles 8 Mottram Officer5 Secretary.. Chair.. R R002e- Appointed I" Sept 2023 N Hair- Appointed 1st Sept 2024 Green Lane, Harrogate, lQorth Yorkshire, HG2 9JP Re8iStered address.. Advlsers Bankers Lloyds 8ank 8- 11 Cambridge Crescent Harrogate HGI IPQ Independent examiner Emma McMurray- ICAEW Chartered Accountant Schofield Sweeney LLP 76 Wellington Street Leeds LSI 2AY Ashville Foundation TRUSTEES, REPORT Year ended 31 August 2024 Charitable Objects The principal activity of the Foundation is to provlde bursaries and other financial support to current and prospective pupils of Ashville College who would othenMi5e be unable to attend the College,. and ancillaiy to the above, any such exclusively charitable purposes a5 the Trustees from time to time may decide. The Foundation meets the definition of 3 public benefit entily under FRS102. The Trustees confirm that they have had regard to the guidance contained in the Charity Comrni55ion's general guidance on public benefit when reviewing the Foundation's aims and objective and in planning activities. Achlevements and performance The main focus in the year to 31 August 2024 has been to provide additional support to Ashville pupils and families in need, through the provision of bursaries to cover school fees, During the year the Foundation provide(J support to 9 pupils. Financial Review The Foundation, wlth the support of College staff, has a150 been active in trying to increase the awareness of the Foundation and its attivities. Total Income for the year was £37.41312023.. £18,1361. Income consisted primarily of regular donations through current parents of the College. Reserves Policv The Directors, policy Is to maintain sufficient reserve5 at the year-end to cover the Foundation's commitments for the following year. At 31 Au8USt 2024 the reserves were £12,06012023.. £90,804) and this was sufficient to cover the commitmerTrts made for the academic year 2024125. Structure. Governance and managemeni The charity is governed by the memorandum and articles of a550ciation incorporated 29 April 2009. Ashville Foundation is a charitable companv, The governing body shall be rnade up ol at least three and not mc>re than nine trustees. Trustees shall include.. Ex-offico.. Chair of Governors Head of Ashville college One third must retire by rotation each AGM other than ex-offico trustee5. Retirees can be reapptsinted for a maximum period of nine years. Related Parties There is a close relationship between Ashville College and the Foundation with 3 number of Governor5 of the College also being directors of the Foundation. Accounts preparer is also an ernployee of Ashville College. Auditors The directors of the company have decided not to appoint auditors. By order of the board. Trustee Ashville Foundation STATEMENT OF TRUSTEES, RESPONS181LITIES Year ended 31 August 2024 The trustees are responslble for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prècticel. The law applicable to charities in En8land & Wales requires the trustees to prepare financial statements for each tinancial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application 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 consistently,. observe the methods and principles in the Charities SORP IFRS1021,' make juiJgement5 and estirnate5 that are reasonable and prudent,. state whether applicable èccounting standard5 have been followed, Subject to any material departures disclosed and explainèd in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the fin3n¢ial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, applicable accountlng regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence fof taking reasonable steps for the prevention and detection of fraud and other irregularities. A5hville Foundation INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF A5HVILLE FOUNDATION l.the Foundation'l Year ended 31 August 2024 Independent examlnels report to the trustees of Ashvllle Foundatlon I report to the trustees on my examination of the accounts of the Ashville Foundation l-the Foundation") for the year ended 31 August 2024. Responslbllitles and bagls of ￿port As the charity trustees of the Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145lsllbl of the Act. Independent examSnerfs ststement I have completed my examination. I confirm that no material matters have come to my attentlon In connection with the examillation siving me cause to believe that in any material respect.. I, accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the account5 do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Account5 and Reports) Regulations 2008 other than any requirement that the accounts g￿e a 'truè and fair view which is not a matter considered as part of an indepèndent examination. I have r)0 concerns and have come across no other matters in connection with the examination to which attention should be drawn In thi5 report in order to eaable a propel understanding of the accounts to be reached Signed.. Narne-. Emma Mcmurray. ICAEW Chartered Accountant 4 Hereford Road, Harrogate HGI 2NP Date,. IL J 2011 Ashville Foundation STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 August 2024 Unresiritted Funds Restritted Total Funds Total Funds Funds 2024 2023 Note INCOME.. Income from donations and legacies Legacy income Income from charitsble activltles Donations received Investment Income Interest received TOTAL INCOME 37.407 37,407 18,129 37,413 37,413 18,136 EXPENDITURE.. Charitsble expenditure Bursarie5. prizes ar)d scholarships Operating expenses Independent Examination fees TOTAL EXPENDrruRE 115,714 443 115,714 443 103,487 306 116,157 116,157 103.793 NFf INCOME FOR THE YEAR 178,7441 178,7441 185,6581 NET MOVEMENTIN FUNDS 178,7441 178,7441 185,6581 TOTAL FUNDS BROUGHT FORWARD TOTAL FUND5 CARRIED FORWARD 90,804 12,060 90,804 12,060 176,462 90,804 All income and expenditure derives from continuing operations. There are no recognised gains and losses for the current and prior period other than as stated above. Ashville Foundation BALANCE SHEET Year ended 31 August 2024 Unre5tritted Funds Pestrittèd Fund5 Total Fund5 2024 Tot31 Funds 2023 Note CURRENT ASSETS Debtors amounts falling due within one year Cash at bank and on deposit 20,000 89,943 20,(I)O 89,943 628 90,176 109.943 109,943 .804 cRED￿oR5. amounts falllng due within one year 197,8831 197.8831 NETCURRENT ASSETS 12.060 12,060 .804 TOTAL A55Ffs LESS CURRENT LIABILITIES 12,060 12,060 90.804 NET ASSETS 12,060 12,060 ,804 FUNDS Restricted Unrestricted 12,060 12,060 .804 12,060 12,060 ,804 For the yÈar ending 31 August 2024 the company was entitled to exernption frorn audit under section 477 of the Companies Act 2006 relating to small companies. The Trustees acknowledge their responsibilities for complyin8 with the requirements of the Act with respect to accounting records and the preparation of accounts The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. These accounts have been prepared in accordance with the provisions applicablè to companies subjeci to the small companies, regime. These financial statements of the Ashville Foundation company number 06946733 were approved by the 8oard of Trustees and authorised for issue on ')(* s 2025 and signed on thelr behalf by.. 4,-OknLLL- Rhiannon Wilkinson Trusree Ashville Foundation NOTES TO THE FINANCIAL STATEMENTS Year ended 31 August 2024 ACCOUNTING POLICIES The Charity is registered with the Charity Commission under registration number 1130571. The principal accounting pollcies adopted by the Trustees are described below. 8asis of Accounting The financial statements have been prepared under the historical tost convention and in accordance with the Statement of Recommended Practice -Accounting and Reporting by Charities ISORP 20191" applicable to charities preparing their accounts In accordance with the Financial Reporting Stsndard applicable iri the UK and Republic of Ireland IFRS 1021. effective l January 2019, and the Companies Act 2006. Basls of preparatlon tsf financial ststements- golng concern bas15 The Directors, having taken account of projected future income and the existing levels of reserves held within the charity, believe that the Foundation has adequate resources to continue its activities for the foreseeable future. Accordingly. they continue to adopt the going concern basis in preparin8 the financial statements. Income All income is recognised in the statement of financial activities when the charity has entitlement to the funds, conditions for receipt have been meL it is probable that the income will be received and the amount can be measured reliably. The following accounting policies are applied to income.. Donations ondlegocles Donations received are recognised in the Statement of Financial ActNities in the period in which the charity is entitled to receipt. Investment income Interest income is recognised as it 15 received. Expenditure Direct choritable expenditure Direct charitable expenditure includes all expenditure direttly related to the objects of the charity and includes the following.. BursÉFries, prizes and scholarships Scholarships and prites are accounted for when the Trustees have accepted a legal or moral obligation to make the expenditure. OperGting expenditure Other expenditure represents expenditure incurred in the management of the charity's assets, organisational administration, and compliance with constitutional and statutory requlrements. Donated services Ashville College employees provide administrative a5S1Stance to Ashville Foundation. As this 15 small and not easily quantifiable, no adjustment has been included in the financial statements for this. Fund accountlng The trust holds the followlng funds.. Unrestricted funds- these funds can be used in accordance with the charitable objects at the discretion of the Trustees Restricted fund5 these funds can only be used for particular restricted purpose5 wiihin the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes Ashville Foundation NOTES TO THE FINANCIAL STATEMENTS Year ended 31 August 2024 Financial instruments Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. All financial assets and liabllities are inltla11y measured at transaction price (including transaction costs). The charity only has financial a55et5 ènd finantièl liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at tra￿actIOn value and subsequently measured at their settlement Value. Taxation As a registered charity the Foundation is exempt from income tax on its charitable activities. Critical accountlng judgements and key source5 of estimation uncertainty In the applicètion of the chariW5 accountin8 policies, which are described above, the Trustees are required to 3ke judgernents, e5timate5 and assumptions about the carrying amount5 of asset5 and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differfrom these estimates. The estimate5 and underlyin8 assumptions are Teviewed on an on-going basis. Revision5 to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision èffeeis both current and future periods. The Trustee5 do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the 3ccountin8 policies listed above. NET MOVEMENT IN FUNDS Net movement in funds for the year is stated after char8ing'. Unrestrlcted Unrestricted 2024 2023 Independent Examination Fees Trustee Expenses The Trustees received no remuneration or expenses in the performance of their duties as Trustees of the Trust in the current or prlor year. There were no trustees reimbursements for 202412023.. £nill. DEBTORS 2024 2023 Amounts falling due within one year Dve from A5hville College Accrued income 20.fflo 628 20,WO 928 Ashville Foundation NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au8USt 2024 4. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrua15 Amount due to Ashville Colle8e 97,883 97,883 5. FUNDS Balance a5 at I Sept 2023 Incoming resources Resource5 expended Funds Balance as transferred at 31 August 2024 Unrestricted funds Restricted funds 90,804 37.413 1116,1571 12,060 Totsl funds 90,804 37.413 1116,1571 12,060 2023 comparatlve figures Balance as at I Sept 2022 Incoming resources ReSoU￿S expended Funds Balance as transferred at 31 Au8USt 2023 Unrestricted funds 13 1131 1103,7811 Restricted funds 176,449 18,139 90,804 Totsl funds 176,462 18,139 1103,7941 ,804 Restricted fund- combines all bursaries and financial help given to parents to allow chlldren who would not normally be able to attend Ashville College. the opportunity to attend. RELATED PARTY TRANSACTIONS A donation of £13 was made by a rel8tÈd party during the year12023.. £nill.