REGISTERED COMPANY NUMBER.. 06848528 IEn8land and Wales) REGISTERED CHARITY NUMBER- 1135865 Re ort of the Trustees and Unaudited Flnanclal Statements for the Year Ended 31st Au ust 2024 for The Heathfleld Fellowshl Acom an Limlted b Guarantee Barnes Noble Ltd Chartered Accountant & Registered Auditor Unitec House 2 Albert Place London N3 IQ8
The Heathlield Fellowshi Contents of the Financial Statements for the Year Ended 31st Au ust 2024 Page Report of the trustees Independent examlner'5 repoft Statemenl ol flnan¢lal a¢tlvltles Statement of flnanclal posltlon Note5 to the flnanclal Statements 6 to 11
The Heathlield Fellowshi Re Istered number.. 06848528 Re ort of the Trustees for the Year Ended 31st Au ust 2024 The trustees. who are directors for the purposes of cornpany law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective I january 20191.. above polrits not included. ObSectlves and actlvltles Ob5ectlves and alms The principal object ol the Fellowship is to promote educatSon and particlpation of girls, regardless of race, creed, financial means or Social and economic clrcum5tances by the provision of bufsaries to attend Heathlield School. A¢tlvltles and Flnanclal ResLtIts The Fellowship had a successful year providing educational opportunities for young people. The Fellowshlp was able to offer 8rant5 totalling £29,55012023', £4L,6571. This year donation5 were comparatively increased with £28,80112023'. £21,4681 being received. At the year end the Charity had reserves of £81,72812023..E82.8891, whlch leave5 the Fellowship in a strong position to offer further grants, bursaries and prizes in the future. Durin8 the year the Fellowship's income was generated malnly from donations. The full activities and f5nancial results for the year are as shown Sn the financial statements. Public beneflt In shaping our obleclives for the year and p1annlng our activities, the tru5tee5 have consldered the Charities Commission'5 8uidance on public benefit, including the guidance 'public benefit.. running a charity IP821'. The trustees confirm that they have complied wlth the requirements of section 17 of the Charitlès Act 2011 to have due regard to the public benefit 8uidance published by the Charity Commission for England and Wales. Future plans The Fellowship aims to contlnue to support the students of Heathlield School by provision of bursarles, grants and prlzes. The success of the carol service wlll be considered when planning activitles to raise future funds, Burseiles Any students of Heathlield School may apply to the Trust. Grants are awarded at the discretion of the trustees. Thls policy enstjres that the Trust achieves its objects lor the public benefit. Remuneratlon Policv Trustees receive no remuneratlon. Only expen5e5 suffered on behalf of the Fellowship are reimbursed to the trustees. Flnanclal revlew Poll¢y on reserves It is the target ol the Fellowship to maintain unrestricted funds at a sufflclerit lovel to cover administration costs and bursaries for at least one year whlch is estimated to be E15,000. As at 31st August 2024, the Fellowship had reserves of £81,72812023.. £82,889>, all of which were unrestricted. The Trustees note that the reserve5 are above target and will plan bursaries and grants over the next few years to align the re5etves to target. Structure, governance and management Natuie of governing document The charity is controlled by it5 governing document, a deed of trust. and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recrultment and appointment of trustees Potential Trustees are proposed to or approached by The Fellowship's board ol Trustees 3nd are voted on. The executive officer5 are responsible for training Tru5tee5 and making them aware of their responsibilities. The Board of Trustees maintains a skills matrix of current member5. When recruiting new Trustees, the 803rd 8im5 to maintain a balance of skills and background5 to ensure a diverse mix of people. Page I
The Heathfield Fellowshi Re istered number.. 06848528 Re ort of the Trustees foi the Year Ended 31st Au USt 2024 Refeience and admlnistrative details Registered Company number 06848928 (England and Wale51 Reglstered Charlty number 1135865 Reglstered offlcè Heathlield School London Road Ascot Berkshire SL5 88Q Trustees C E Deede5 H O C Egerton-smlth A E Fairmari l M Hicks l Molyneux-webb M Nakamura-Rott (appointed 1519120231 G Peter-Hoblyn lappointed 16110120231 F C Stanlev G E Stewart S V Tulk-Hart K J Hurt Iresigned 1111120231 Independent Examlner Barnes Noble Ltd Chartered Accountant & Registered Auditor Unite¢ House 2 Albeit Place London N3 IQB Small companles provlslon statement This report has been prepared in accordance with the small ¢ompanles regime under the Companies Act 2006. Approved by order ol the board of tru5tee5 on and slgnèd on its behalf by.. rustee Page 2
Inde endent Examiner's Re The Heathfield Fellowshi ort to the Trustees of Independent examlner's report to the trustees of The Heathfleld Fellowshlp I'the Company'l I report to the charity trustees on my examination ol the account5 of the Company for the year ended 31st August 2024. Responslbllitles and basls of report As the charity'5 trustees of the Company land also Its dlrector5 for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the reqkjirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts ol the Company are not required tts be audlted under Part 16 of the 2006 Act and are eligible for independent examination, l ieport in respect ol my examill3tion of your charity's accounts as carried out under Section 145 ol the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions glven by the Charity Commlssion under Section 145151 Ibl ol the 2011 Act. Independent examlnei's statement I have completed my examination. I Confir that no matters have come to my attention In connection with the examinallon giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. er the accounts do not accord with those records,. or the accounts do not comply with the accountin8 requirement5 of Section 396 of the 2006 Act other than any requirement that the accounts glve a irue and fair view which is not a matter considered as part of an independent examination., or the account5 have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportlng by charities (applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in conneclitsn with the examination to whlch attentlon should be drawn In thi5 report in order to enable a proper under5tariding ol the accounts to be reached. Romit B35u FCA (Senior Statutory Auditor) Barnes Noble ltd Chartered Accountant & Re8lStered Auditor Unitec House 2 Albert Place London N3 IQB Date.. Page 3
The Heathfield Fellowshi Statement of Financial Activities for the Year Ended 31st Au ust 2024 2024 Unrestri¢ted funds 2023 Total funds Notes Iniome and endowments ffom Donations and legacies 28,801 21,468 Investment income 1,284 874 Total 30,085 22,342 Expendlture on Ralslng funds Other trading activities 31,246 43,782 31,246 43,782 NET INCOMEIIEXPENDITUREI 11,1611 121,4401 Reconclllatlon of funds Total funds bfought Iofward 82,889 104,329 Total funds carrled forward 81,728 82,889 The note5 lorrn part of these financial statements Page 4
The Heathlield Fellowshi Re isteied number.. 06848528 Statement of Financial Position 31st Au ust 2024 2024 Unrestrl£ted funds 2023 Total funds Notes Fixed assets Intangible assets 570 851 Current assets Cash at bank 83,877 83,464 Creditors Amounts falling due wlthln one year io 12,7191 11,4261 Net current assets 81,158 82,038 Total assets less current Ilabllltles 81,728 82,889 NET ASSETS 81,728 82,889 Funds Unrestricted funds 12 81,728 82,889 Total funds 81,728 82,889 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31$1 August 2024 In ccordance with Section 476 01 the Companies Act 2006. The trustees acknowledge their responsibilities lor erisuring that the charitable company keeps accounting records that comply with Section5 386 and 387 of the Companles Act 2006 and preparing financial statements which give a true and fair vlew of the state of affalrs ol the charitable company a5 at the end of each fin3nci31 year and ol its Surplus or deficit for each linaricial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements ol the Companies Act 2006 relating to financial staternent5, 50 far as applicable to the charltable company. Ibl These IlnancS31 statements have been prepared In ac¢ordance with the provlsltsns applicable to charitable companles subject to the small cornpanies regime. The linanclal statements were approved by the Board of Trustees and authorlsed for Issue on slgned on its behalf by.. and were icks Trustee The notes form part ol these financial statements Page 5
The HeathfSeld Fellowsh Notes to the Financlal Statements for the Yeaf Ended 31st Av ust 2024 Charity status The charity is limited by guarantee, incorporated in, and consequently does nor have share capital. Each of the trustees 15 liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. The address ol its registered office Is.. Heathfield School London Road Ascot Berkshlre SL5 88Q Accountlng pollcles Summary of $18nlflcant accountlng pollcles and key a¢¢ountin8 estlmate5 The principal accounting policie5 applied in the preparation of these financial statements are set out below. These policle5 have been consistently applied to all the years presented, unless otherwise slated Statement of ¢ompllance The financial statements have been prepared in accordance wlih Accounting and Reporting by Charities.. Statement ol Recommended Practice (applicablè to charitie5 preparing their accounts in accordance with the Financial Reporting Siandard applicable sn the UK and Republic ol Ireland IFRS 10211 (issued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic ol Ire13nd IFRS 1021 and the Companies Act 2006, Basls of prepaiatlon The Heathlield Fellowship rHeet5 the definition ol a public benefit entity under FRS 102. Assets and liabllities are initially recognl*d at historical c05t or transaction value unless otherwlse staled in the relevant accounting policy notes. The presentation currency of the flnancial statements is Pound Sterlin81£l rounded to the nearest Pound. Golng concern The trustees consider that there are no material uncertalntles about the charity's ability to continue a5 a goin8 concern nor any significant areas of uncertainty that affect the ¢arrying value of a55ets held by the charity. In¢ome and endowments All income is recognised once the charlty h35 entitlernent to the income, it Is probable that the Income will be recelved and the amount of the Income receivable can be measured reliably. Donatlons and leKacles Donations are recognised when the charlty has been notified in writin8 01 both the amount and settlement date. In the event that a donation is sublect to conditions that require a level of performance by the charity before the charity is entitled to the funfss, the income is deferred and not recognised until either those conditlons are fully met, or the lulfilment ol those ondition5 is wholly within the control of the charity and It is probable that these conditions will be fulfilled in the reporting period. Expènditure 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 ol economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted lor on an accruals basis and has been cla55ified under headings that aggregate all cost related to the category. Where costs canntst be dlrectly attributed to particular headin85 they have been allocated to activities on a basis conslstenr with the use of resources. Grants offered subject to condition5 which have not been met at the year end date are noted as a commitment but not accrued a5 expenditure. Page 6 continued...
The Heathlield Fellowshi Notes to the Financial Statements- continued for the Year Ended 31st Au ust 2024 Accounting pollcies- contlnued R313ing funds These are costs incurred in attracting voluntary income, the management of investmenrs those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of Its activities and servlces f(Ir Its benefitiaries. It includes both costs that can be allocated directly to such activitie5 and those cost5 of an indirect nature nece55ary to support them. Grant provlslons Provislons lor 8raDts are made when the intention to make a grant ha5 been comrnunicated to the recipient but there is uncertainty about either the timing of the grant or the amount ol grant payable. Support ¢ost5 Support costs include central functitsns and h3ve been allocated to activity C05t categorles on a basls conslstent with the use ol resources, for example, allocatin8 property costs by floor areas, or per capita.staff costs by the time spent and oiher costs by Ihelr u$88e.. Governance costs These include the costs attributable to the charity's compliance wlth constilutlonal and slatutory.requirements, including audit, strategic management and trusiees meetings and reimbursed expense5. Trade credltQfS Trade creditors are obligations to pay for goods Or sÈrvlce5 that have been acquired in the ordinary course of business from suppliers. Accounts P8y3ble are cla55ilied as current liabilities il the charity does not have an unconditional rlght, ai the end of the reporting period, to defer settlement of the creditor for at5e351 twelve month5 alter the reporting date. 11 there is an nconditional right to defer settlement lor atleast twelve months alter the reportin8 date. they are presented as non-currenl Trade creditors are recognised initially at the transaction prlce and subsequently measured at amortised cost Using the effective inlerest meihod. Borrowlngs Intere5t-bearin8 borrowings are initially recorded at falr value, net ol transaction costs. Interest-boarding borrowings are subsequently carrled at amortlsed Cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption bein8 recognised as a charge to the Statement of Financial Activitie5 over the period ol the relevant borrowing. Interest expense Is recognlsed on the basi5 of the effective interest method and is included In interest payable and slm11ar charges. Borrowin8s are classified as current liabllitles unless the charity has an unconditional right to defer settlernent of the liability for at least twelve month5 alter the reportirig date. Taxatlon The charily is exempt from corporation tax on it5 Charitable activities. Intangible assets Intangible a55et5 are stated in the Balance Sheet at cost less accumulated amortlsation and impairment. They are arvTrortised on a straight line basis over their estimated useful lives. Cash and tash equivalent5 Cash anij cash equivalents comprise cash on hand and call deposlts, and other short-term highly liquid investments that are readily convertible to a known amount of c35h and are Subject to an insignificant risk ol change in value. Page 7 continued...
The Heathlield Fellowshi Notes to the FinaTr£lal Statements- continued for the Year Ended 31st Au ust 2024 Accounting pollcies- contlnued Fund structure Unrestricted funds can be used In accordance with the charitable objective5 at the discretion of the tru5tee5. Rèstricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restrictions arlse when specified by the donor or when funds are raised for particular restrlcted purposes. Further explanation ol the nature and purpose of each fund is included in the notes to the financial statements. Donatlons and legacles 2024 2023 Donations 28,801 2 1,468 Investment Income 2024 2023 Income from other investments 1,284 874 Net Incomellexpenditurel Net In£ome/lexpenditurel is stated after chargingllcreditingl.. 2024 2023 Cornputer 501tware amortlsatlon Other non-audl sèrvices 281 1,320 419 1,380 Tru5tees' remuneratlon and beneflts There were no tru5tees' remuneration or other benefits for the year ended 31st August 2024 nor for the year ended 315t Au8USt 2023. Yrustees, expenses There were no trustees. expenses paid lor the year ended 31st August 2024 nor for the year ended 31st August 2023. Expendlture on charitable a¢tlvitles 2024 2023 Grant funding ol activities Governance costs 29,550 1.696 41.657 2,125 31,246 43.782 Page 8 continued...
The Heathfield Fellowshi Notes to the Flnancial Statements- continued for the Year Ended 315t Au ust 2024 Analysis of governancè and support costs Govèrnance costs 2024 2023 Independent examiner fees Examination of the financial statement5 Depreciation, amortisation and other similar costs Allocated support costs 1.320 281 95 1.380 419 326 1.696 2,125 IntanBlble flxed assets Computer software Cost At 1st September 2023 and 31st Agust 2024 5,778 Amortlsatlon At 1st September 2023 Charge lor year 4,927 281 Ai 31st August 2024 5,208 Net book value At 31st August 2024 570 At 31st August 2023 851 io, Creditors.. amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts (see note 111 Accruals 1,173 1.546 1,426 2,719 1,426 ii. Loans An analysis of the maturSty of loans 15 given below.. 2024 2023 Amounts falling due within one year on demand.. Bank overdialts 1,173 Page 9 continued...
The Heathfield Fellowshi Notes to the FTrnancial St?tements- continued for the Year Ended 31st Au ust 2024 12. Movement in lunds Net movement Sn funds At 3118124 Al 119123 Unrestrirted fund5 General fund 82,889 11,1611 81,728 TOTAL FUNDS 82,889 11,1611 81.728 Net rnovement in funds, included In the abtsve are a5 fo11ow5'. Incomlng resources Resources expended Movement In funds Unrestrlrted funds General fund 30,085 131,2461 11,1611 TOTAL FUNDS 30,085 131,2461 11,1611 Comparallves for movement In funds Net movement In funds At 3118123 At 119122 Unrestflcted funds General fund 104,329 121,4401 82.889 TOTAL FUNDS 104,329 121,4401 82,889 Comparative net movement in funds, included in the above are a5 follows.. In¢omin8 resouries Resources expended Movement In funds Unfestii(ted funds General fund 22,342 143.7821 121,4401 TOTAL FUNDS 22,342 143,7821 121,4401 Page 10 continued...
The Heathfield Fellowshl Note5 to the Financial Statements - continued for the Year Ended 31st Au ust 2024 13. Related party dlsclosures During the year the Fellowship received a total of £28.80112023.. £21,450) from Heathfield School, a connected party by virtue ol a common Trustee. This comprise5 donations to the Fellowship. A5 at 31 August 2024, an amount of £Nil12023.. £Nill was owing from Heathfield School to the Fellowship. Page 11