REGISTERED COMPANY NUMBER: 06848528 (England and Wales) REGISTERED CHARITY NUMBER: 1135865
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
THE HEATHFIELD FELLOWSHIP
DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
THE HEATHFIELD FELLOWSHIP
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6 to 7
Notes to the Financial Statements 8 to 13
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THE HEATHFIELD FELLOWSHIP
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal object of the Fellowship is to promote education and participation of girls, regardless of race, creed, financial means or social and economic circumstances by the provision of bursaries to attend Heathfield School.
Activities and Financial Results
The Fellowship had a successful year providing educational opportunities for young people. The Fellowship was able to offer grants totalling £21,940 (2020: £49,181). This year donations were comparatively higher with £47,310 (2020: £32,292) being received. At the year end the Charity had reserves of £63,999 (2020: £41,931), which leaves the Fellowship in a strong position to offer further grants, bursaries and prizes in the future.
During the year the Fellowship's income was generated mainly from donations. The full activities and financial results for the year are as shown in the financial statements.
Public benefit
In shaping our objectives for the year and planning our activities, the trustees have considered the Charities Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Future Plans
The Fellowship aims to continue to support the students of Heathfield School by provision of bursaries, grants and prizes. The success of the carol service will be considered when planning activities to raise future funds.
Grants
Any students of Heathfield School may apply to the Trust. Grants are awarded at the discretion of the trustees. This policy ensures that the Trust achieves its objects for the public benefit.
Remuneration Policy
Trustees receive no remuneration. Only expenses suffered on behalf of the Fellowship are reimbursed to the trustees.
FINANCIAL REVIEW
Reserves policy
It is the target of the Fellowship to maintain unrestricted funds at a sufficient level to cover administration costs and bursaries for at least one year which is estimated to be £15,000. As at 31st August 2021, the Fellowship had reserves of £63,999 (2020: £41,931), all of which were unrestricted. The Trustees note that the reserves are above target and will plan bursaries and grants over the next few years to align the reserves to target.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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THE HEATHFIELD FELLOWSHIP
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Appointment of new trustees
Potential Trustees are proposed to or approached by The Fellowship's board of Trustees and are voted on. The executive officers are responsible for training Trustees and making them aware of their responsibilities. The Board of Trustees maintains a skills matrix of current members. When recruiting new Trustees, the Board aims to maintain a balance of skills and backgrounds to ensure a diverse mix of people.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06848528 (England and Wales)
Registered Charity number 1135865
Registered office Heathfield School London Road Ascot Berkshire SL5 8BQ
Trustees
C E Deeds H D C Egerton-Smith J M Hicks Vice Chair K J Hurt Chair J R J Lambert (resigned 10.2.21) H Lourie (resigned 8.2.21) A Marx (resigned 25.1.21) F C H Stanley S Stewart (resigned 25.1.21) S V Tulk-Hart Treasurer G E Stewart (appointed 1.11.21) A E Fairman (appointed 16.9.21)
Company Secretary
Tricor Secretaries Limited
Independent Examiner
DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
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THE HEATHFIELD FELLOWSHIP
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27 April 2022 and signed on its behalf by:
K J Hurt - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HEATHFIELD FELLOWSHIP
Independent examiner's report to the trustees of The Heathfield Fellowship ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Romit Basu FCA DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
27 April 2022
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THE HEATHFIELD FELLOWSHIP
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 47,310 Charitable activities Carol service - Investment income 2 5 Total 47,315 EXPENDITURE ON Raising funds - Charitable activities Bursaries 22,206 Other 3,041 Total 25,247 NET INCOME/(EXPENDITURE) 22,068 RECONCILIATION OF FUNDS Total funds brought forward 41,931 TOTAL FUNDS CARRIED FORWARD 63,999 |
2020 Total funds £ 32,292 4,806 94 37,192 7,294 49,395 3,804 60,493 (23,301) 65,232 41,931 |
|---|---|
The notes form part of these financial statements
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THE HEATHFIELD FELLOWSHIP
STATEMENT OF FINANCIAL POSITION 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 1,895 CURRENT ASSETS Debtors 7 4,948 Cash at bank 58,726 63,674 CREDITORS Amounts falling due within one year 8 (1,570) NET CURRENT ASSETS 62,104 TOTAL ASSETS LESS CURRENT LIABILITIES 63,999 NET ASSETS 63,999 FUNDS 9 Unrestricted funds 63,999 TOTAL FUNDS 63,999 |
2020 Total funds £ 2,828 - 53,738 53,738 (14,635) 39,103 41,931 41,931 41,931 41,931 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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THE HEATHFIELD FELLOWSHIP
STATEMENT OF FINANCIAL POSITION - continued 31 AUGUST 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 April 2022 and were signed on its behalf by:
K J Hurt - Trustee
The notes form part of these financial statements
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THE HEATHFIELD FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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THE HEATHFIELD FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
2. INVESTMENT INCOME
| INVESTMENT INCOME | |
|---|---|
| Interest received | 2021 2020 £ £ 5 94 |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent examination fees Computer software amortisation |
2021 2020 £ £ 1,200 1,200 933 1,393 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Carol service Investment income |
Unrestricted fund £ 32,292 4,806 94 |
|---|---|
| Total EXPENDITURE ON Raising funds Charitable activities Bursaries Other |
37,192 7,294 49,395 3,804 |
| Total | 60,493 |
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THE HEATHFIELD FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
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5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
NET INCOME/(EXPENDITURE) (23,301)
RECONCILIATION OF FUNDS
Total funds brought forward 65,232
TOTAL FUNDS CARRIED FORWARD 41,931
6. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 September 2020 and 31 August 2021 5,778
AMORTISATION
At 1 September 2020 2,950
Charge for year 933
At 31 August 2021 3,883
NET BOOK VALUE
At 31 August 2021 1,895
At 31 August 2020 2,828
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 4,948 -
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THE HEATHFIELD FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accrued expenses |
2021 2020 £ £ 300 13,365 1,270 1,270 |
|
|---|---|---|
| 1,570 14,635 |
||
| 9. MOVEMENT IN FUNDS Unrestricted funds General fund |
At 1.9.20 £ 41,931 |
Net movement At in funds 31.8.21 £ £ 22,068 63,999 |
| TOTAL FUNDS | 41,931 | 22,068 63,999 |
| Net movement in funds, included in the above are as follows: Unrestricted funds General fund |
Incoming resources £ 47,315 |
Resources Movement expended in funds £ £ (25,247) 22,068 |
| TOTAL FUNDS | 47,315 | (25,247) 22,068 |
| Comparatives for movement in funds Unrestricted funds General fund |
At 1.9.19 £ 65,232 |
Net movement At in funds 31.8.20 £ £ (23,301) 41,931 |
| TOTAL FUNDS | 65,232 | (23,301) 41,931 |
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THE HEATHFIELD FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 37,192 (60,493) |
Movement in funds £ (23,301) |
|---|---|---|
| TOTAL FUNDS | 37,192 (60,493) |
(23,301) |
A current year 12 months and prior year 12 months combined position is as follows:
| At 1.9.19 £ Unrestricted funds General fund 65,232 |
Net movement At in funds 31.8.21 £ £ (1,233) 63,999 |
|---|---|
| TOTAL FUNDS 65,232 |
(1,233) 63,999 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 84,507 (85,740) |
Movement in funds £ (1,233) |
|---|---|---|
| TOTAL FUNDS | 84,507 (85,740) |
(1,233) |
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THE HEATHFIELD FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
10. RELATED PARTY DISCLOSURES
During the year the Fellowship received a total of £41,142 (2020: £32,292) from Heathfield School, a connected party by virtue of a common Trustee. This comprises donations to the Fellowship. As at 31 August 2021, an amount of £4,948 (2020: £Nil) was owing from Heathfield School to the Fellowship.
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