**REGISTERED CHARITY NUMBER: 1151220**
**REPORT OF THE TRUSTEES AND UNAUDITED**
**FINANCIAL STATEMENTS FOR THE YEAR**
**ENDED 31 MARCH 2024 FOR**
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 10|
## **THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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**
## **Background, Objectives and Public Benefit**
The Rowdown Inspire to Aspire Foundation (the "Foundation" or the "Charity") was established by Gary Coy, Chair of Trustees, to support the gifted and talented children at Rowdown Primary School in New Addington, an area of high deprivation in the London Borough of Croydon. Mr Coy was previously Chair of Governors at the school. Following the success of the first few years, the Foundation has expanded its remit, with the approval of the Charity Commission, to include pupils from any of the primary schools based in New Addington. The Foundation makes financial commitments to provide lessons or club memberships for individual pupils or small groups.
The Trustees regularly review how the Foundation is meeting its objectives and how this is for the public benefit. By providing children with opportunities to pursue areas of talent that they would not otherwise have been able to, the Foundation is investing in these children's future which will be of benefit to the community at large over the long term. This is especially true of the Foundation's Tuition Programme which seeks to enable children from a low-income background to reach the best selective grammar and independent schools to ensure they can meet their full potential academically. We, therefore, are of the opinion that we satisfy the Charity Commission's requirement of operating for the public benefit.
## **FINANCIAL REVIEW**
## **Operations and Financial Review**
As we finished the prior year with a reduced level of cash reserves, the emphasis early in the year was fundraising and we approached a large number of charitable trusts with moderate – but pleasing – success. Donations from Barratt Foundation (£5,000), Gosling Foundation (£7,500), Hargreaves Foundation (£10,000) and, right at the end of the year, Axis Foundation (£3,000) gave us a healthy reserve position in March 2024 despite a small increase in expenditure over 2022/23. We thank these trusts and all our donors for their (continued) support which has enabled us to support more and more talented children from low-income Croydon families.
Our Tuition Programme continued to have a high degree of success with another 12 children gaining places at selective schools taking the total number to over 70. These children now have access to life-enhancing secondary education and extra-curricular opportunities that generate value well beyond that shown in our accounts. The first two graduates of our Programme (back in 2015) have now started at universities, at Cambridge and Imperial College, London, both in the top 6 universities in the world. We also continued our support for a judoka currently in the England Development Squad and representing the country in international competition. We supported c.140 children during the year, directly or indirectly.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Structure**
The governing document of the Foundation is its trust deed dated 24th January 2013 as amended on 7th July 2018.
The board of Trustees is made up of nine individuals all of which have relevant experience of supporting children, finance or charity work. The board of Trustees has responsibility for setting the strategic direction of the Foundation and for approving and monitoring all financial aspects. They will also regularly review risk and governance issues. In running and governing the Foundation, the Trustees have regard to guidance issued by the Charity Commission and endeavour to follow best practice principles.
The Trustees are cognisant of balancing demand for the Foundation's support with its financial and human resources. It reviews governance and management at each Annual General Meeting to ensure proper procedures are in place whereby it can maximise the benefits to the community it is serving without overstretching its current resources or put in place plans to increase resources.
Page 1
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The day-to-day running of the Foundation is delegated to an Executive Committee made up of four Trustees. The Chair undertakes the majority of marketing, fundraising, liaison/co-ordination tasks with financial management shared with the Treasurer and administration shared with the Secretary and Treasurer. The Chair produces updates for the Trustees which are circulated by email on a regular basis. The Deputy Chair offers liaison with the local community in particular.
## **Risk management**
The two key risks within the Foundation relate to safeguarding of children and financial matters. With regard to safeguarding, the Foundation has little direct contact with the children that receive our support and such contact is always in the presence of parents or school staff. If any Trustee or other person appointed by the Foundation were to have sole, unaccompanied contact with children, we require them to have the appropriate checks in place. The Chair holds a current enhanced DBS check.
Given the increasing income of the Foundation and the greater influence of external funding, it was decided during 2020/21 to establish a finance committee to oversee all financial aspects of our operations. The Chair and Treasurer are members of this committee along with three other Trustees. The committee sets financial policy, approve any spending over certain limits and recommend actions to the Board of Trustees as per its Terms of Reference. The Finance Committee also reviews movements across the bank account on a monthly basis and is provided with a reconciliation to the management accounts. The risk of the misappropriation of funds is minimal.
All commitments are short term in nature, requiring only one month's notice of cancellation with the exception of the several grants of £500-1,500 which are committed for the current academic year but budgeted on the basis of likely amounts claimed. For one such grant, there is a commitment of £1,500 per annum for five years. The Foundation's liquidity is checked at least weekly and the risk of maturing liabilities exceeding available cash is negligible.
## **Independent Examination of Accounts**
As income was above the £25,000 threshold for requiring independent examination, these accounts have been independently examined.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1151220
## **Principal address**
Brasted Westcott Road Dorking Surrey RH4 3EA
## **Trustees**
G Coy M Bibby M Burchell K Gee P Greenwood M Hartley S Nias J O'Neill J Parsons
Page 2
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
Approved by order of the board of trustees on 19/11/2024 and signed on its behalf by:
.......................................................................... G L Coy - Trustee
Page 3
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|_Notes_
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Events and competitions
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Grants to individuals
Other
**Total**
**NET INCOME/(EXPENDITURE)**|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
**20,500**
**25,196**
**0**
**1,920**
**________**
**________**
**20,500**
**27,116**
**0**
**470**
**18,090**
**16,086**
**0**
**808**
**________**
**________**
18,090
**17,364**
**________**
**________**
**2,410**
**9,752**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
2,730
23,528
0
2,869
________
________
2,730
26,397
0
0
1,623
32,537
0
346
________
________
1,623
32,883
________
________
1,107
(6,486)
________
________|
|---|---|---|
The notes form part of these financial statements Page 4
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|_Notes_
**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
**CURRENT ASSETS**
Cash at bank
**4,384**
**14,529**
**________**
**________**
**NET CURRENT ASSETS**
**4,384**
**14,529**
**________**
**________**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**4,384**
**14,529**
**ACCRUALS AND DEFERRED INCOME**
**(524)**
**________**
**________**
**NET ASSETS**
**4,384**
**14,005**
**________**
**________**
**FUNDS**
Unrestricted funds
**0**
**14,005**
Restricted funds
**4,384**
**0**
**________**
**________**
**TOTAL FUNDS**
**4,384**
**14,005**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
1,974
4,609
________
________
1,974
4,609
________
________
1,974
4,609
(356)
________
________
1,974
4,253
________
________
0
4,253
1,974
0
________
________
1,974
4,253
________
________|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19/11/2024 and were signed on its behalf by:
............................................. G L Coy - Trustee
............................................. J Parsons - Trustee
The notes form part of these financial statements
Page 5
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **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.
## **Taxation**
The charity is exempt from 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.
## **2. GRANTS PAYABLE**
|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
Grants to individuals
**18,090**
**16,086**
The total grants paid to individuals during the year was as follows:
Tuition programme
**0**
**(508)**
Secondary school grants
**14,882**
**10,182**
Group tuition expenses
**0**
**765**
Individual children
**3,208**
**5,647**
**________**
**__________**
**Total**
**18,090**
**16,086**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
1,623
32,537
0
654
0
24,844
480
721
1,143
6,318
________
________
1,623
32,537
**________**
**________**|
|---|---|
The notes form part of these financial statements Page 6
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees’ expenses for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **4. ACCRUALS AND DEFERRED INCOME**
|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
Accruals and deferred income
**_0_**
**524**
**________**
**________**
**OVEMENT IN FUNDS**
At
01/04/23
£
**Unrestricted funds**
General fund
**4,253**
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**1,974**
711
1,263
0
0
**________**
**TOTAL FUNDS**
**6,227**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
0
356
________
________
Net
movement
in funds £
At
31/03/24
£
**9,752**
**14,005**
**2,410**
(711)
1,737
0
1,384
**4,384**
0
3,000
0
1,384
**__________**
**__________**
**12,162**
**18,389**
**__________**
__________|
|---|---|
## **5. MOVEMENT IN FUNDS**
Net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 7
## **THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
**Comparatives for movements in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
Resources
expended
£
Movement
in funds
£
**27,116**
**(17,364)**
**9,752**
**20,500**
0
3,000
0
17,500
**(18,090)**
(711)
(1,263)
(0)
(16,116)
**2,410**
(711)
1,737
0
1,384
**________**
**________**
**________**
**47,616**
**(35,454)**
**12,162**
**________**
**________**
________
At
01/04/22
£
Net
movement
in funds £
At
31/03/23
£
**10,739**
**(6,486)**
**4,253**
**867**
867
0
0
0
**1,107**
(156)
1,263
0
0
**1,974**
711
1,263
0
0
________
________
________
11,606
(5,379)
6,227
**________**
**________**
________|
|---|---|
Comparative net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 8
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
26,397
2,730
750
1,500
480
0
________
29,127
________|Resources
expended
£
Movement
in funds
£
(32,883)
(6,486)
(1,623)
(906)
(237)
(480)
(0)
1,107
(156)
1,263
0
0
________
________
(34,506)
(5,379)
________
________|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|At
01/04/22
£
Net
movement
in funds £
10,739
3,266
867
867
0
0
0
3,517
(867)
3,000
0
1,384
__________
__________
11,606
6,783
__________
__________|At
31/03/24
£
14,005
4,384
0
3,000
0
1,384
__________
18,389
________|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 9
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
Resources
expended
£
Movement
in funds
£
53,513
(50,247)
3,266
23,230
750
4,500
480
17,500
(19,713)
(1,617)
(1,500)
(480)
(16,116)
3,517
(867)
3,000
0
1,384
________
________
________
76,743
(69,960)
6,783
________
________
________|
|---|---|
## **6. OTHER FINANCIAL COMMITMENTS**
The Foundation has committed to provide a grant of up to £1,500 to the parents of each of 44 pupils who were successful in gaining places at fee-paying or grammar schools. The commitment is for the academic year 2023/24 only (except for three families where a commitment has been made to support them for five years at £1,500 per annum) and is conditional on the parent providing invoices proving payment of such items as school fees, uniform, equipment or educational school trips. The Foundation will then re-imburse parents for 50% of the invoiced expenditure. Amounts remaining are available until the end of the academic year in July 2024. We estimate likely claims of these grants in our next financial year will total less than £9,000.
||2023-24|2023-24|
|---|---|---|
|No. of pupils|Awarded|Claimed|
|30|£31,750|£15,300|
||2022-23||
|No. of pupils|Awarded|Claimed|
|44|£39,500|£19,785|
## **7. RELATED PARTY TRANSACTIONS**
There were no related party transactions for the year ended 31 March 2024.
The notes form part of these financial statements Page 10
**REGISTERED CHARITY NUMBER: 1151220**
**REPORT OF THE TRUSTEES AND UNAUDITED**
**FINANCIAL STATEMENTS FOR THE YEAR**
**ENDED 31 MARCH 2024 FOR**
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 10|
## **THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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**
## **Background, Objectives and Public Benefit**
The Rowdown Inspire to Aspire Foundation (the "Foundation" or the "Charity") was established by Gary Coy, Chair of Trustees, to support the gifted and talented children at Rowdown Primary School in New Addington, an area of high deprivation in the London Borough of Croydon. Mr Coy was previously Chair of Governors at the school. Following the success of the first few years, the Foundation has expanded its remit, with the approval of the Charity Commission, to include pupils from any of the primary schools based in New Addington. The Foundation makes financial commitments to provide lessons or club memberships for individual pupils or small groups.
The Trustees regularly review how the Foundation is meeting its objectives and how this is for the public benefit. By providing children with opportunities to pursue areas of talent that they would not otherwise have been able to, the Foundation is investing in these children's future which will be of benefit to the community at large over the long term. This is especially true of the Foundation's Tuition Programme which seeks to enable children from a low-income background to reach the best selective grammar and independent schools to ensure they can meet their full potential academically. We, therefore, are of the opinion that we satisfy the Charity Commission's requirement of operating for the public benefit.
## **FINANCIAL REVIEW**
## **Operations and Financial Review**
As we finished the prior year with a reduced level of cash reserves, the emphasis early in the year was fundraising and we approached a large number of charitable trusts with moderate – but pleasing – success. Donations from Barratt Foundation (£5,000), Gosling Foundation (£7,500), Hargreaves Foundation (£10,000) and, right at the end of the year, Axis Foundation (£3,000) gave us a healthy reserve position in March 2024 despite a small increase in expenditure over 2022/23. We thank these trusts and all our donors for their (continued) support which has enabled us to support more and more talented children from low-income Croydon families.
Our Tuition Programme continued to have a high degree of success with another 12 children gaining places at selective schools taking the total number to over 70. These children now have access to life-enhancing secondary education and extra-curricular opportunities that generate value well beyond that shown in our accounts. The first two graduates of our Programme (back in 2015) have now started at universities, at Cambridge and Imperial College, London, both in the top 6 universities in the world. We also continued our support for a judoka currently in the England Development Squad and representing the country in international competition. We supported c.140 children during the year, directly or indirectly.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Structure**
The governing document of the Foundation is its trust deed dated 24th January 2013 as amended on 7th July 2018.
The board of Trustees is made up of nine individuals all of which have relevant experience of supporting children, finance or charity work. The board of Trustees has responsibility for setting the strategic direction of the Foundation and for approving and monitoring all financial aspects. They will also regularly review risk and governance issues. In running and governing the Foundation, the Trustees have regard to guidance issued by the Charity Commission and endeavour to follow best practice principles.
The Trustees are cognisant of balancing demand for the Foundation's support with its financial and human resources. It reviews governance and management at each Annual General Meeting to ensure proper procedures are in place whereby it can maximise the benefits to the community it is serving without overstretching its current resources or put in place plans to increase resources.
Page 1
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The day-to-day running of the Foundation is delegated to an Executive Committee made up of four Trustees. The Chair undertakes the majority of marketing, fundraising, liaison/co-ordination tasks with financial management shared with the Treasurer and administration shared with the Secretary and Treasurer. The Chair produces updates for the Trustees which are circulated by email on a regular basis. The Deputy Chair offers liaison with the local community in particular.
## **Risk management**
The two key risks within the Foundation relate to safeguarding of children and financial matters. With regard to safeguarding, the Foundation has little direct contact with the children that receive our support and such contact is always in the presence of parents or school staff. If any Trustee or other person appointed by the Foundation were to have sole, unaccompanied contact with children, we require them to have the appropriate checks in place. The Chair holds a current enhanced DBS check.
Given the increasing income of the Foundation and the greater influence of external funding, it was decided during 2020/21 to establish a finance committee to oversee all financial aspects of our operations. The Chair and Treasurer are members of this committee along with three other Trustees. The committee sets financial policy, approve any spending over certain limits and recommend actions to the Board of Trustees as per its Terms of Reference. The Finance Committee also reviews movements across the bank account on a monthly basis and is provided with a reconciliation to the management accounts. The risk of the misappropriation of funds is minimal.
All commitments are short term in nature, requiring only one month's notice of cancellation with the exception of the several grants of £500-1,500 which are committed for the current academic year but budgeted on the basis of likely amounts claimed. For one such grant, there is a commitment of £1,500 per annum for five years. The Foundation's liquidity is checked at least weekly and the risk of maturing liabilities exceeding available cash is negligible.
## **Independent Examination of Accounts**
As income was above the £25,000 threshold for requiring independent examination, these accounts have been independently examined.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1151220
## **Principal address**
Brasted Westcott Road Dorking Surrey RH4 3EA
## **Trustees**
G Coy M Bibby M Burchell K Gee P Greenwood M Hartley S Nias J O'Neill J Parsons
Page 2
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
Approved by order of the board of trustees on 19/11/2024 and signed on its behalf by:
.......................................................................... G L Coy - Trustee
Page 3
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|_Notes_
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Events and competitions
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Grants to individuals
Other
**Total**
**NET INCOME/(EXPENDITURE)**|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
**20,500**
**25,196**
**0**
**1,920**
**________**
**________**
**20,500**
**27,116**
**0**
**470**
**18,090**
**16,086**
**0**
**808**
**________**
**________**
18,090
**17,364**
**________**
**________**
**2,410**
**9,752**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
2,730
23,528
0
2,869
________
________
2,730
26,397
0
0
1,623
32,537
0
346
________
________
1,623
32,883
________
________
1,107
(6,486)
________
________|
|---|---|---|
The notes form part of these financial statements Page 4
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|_Notes_
**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
**CURRENT ASSETS**
Cash at bank
**4,384**
**14,529**
**________**
**________**
**NET CURRENT ASSETS**
**4,384**
**14,529**
**________**
**________**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**4,384**
**14,529**
**ACCRUALS AND DEFERRED INCOME**
**(524)**
**________**
**________**
**NET ASSETS**
**4,384**
**14,005**
**________**
**________**
**FUNDS**
Unrestricted funds
**0**
**14,005**
Restricted funds
**4,384**
**0**
**________**
**________**
**TOTAL FUNDS**
**4,384**
**14,005**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
1,974
4,609
________
________
1,974
4,609
________
________
1,974
4,609
(356)
________
________
1,974
4,253
________
________
0
4,253
1,974
0
________
________
1,974
4,253
________
________|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19/11/2024 and were signed on its behalf by:
............................................. G L Coy - Trustee
............................................. J Parsons - Trustee
The notes form part of these financial statements
Page 5
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **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.
## **Taxation**
The charity is exempt from 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.
## **2. GRANTS PAYABLE**
|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
Grants to individuals
**18,090**
**16,086**
The total grants paid to individuals during the year was as follows:
Tuition programme
**0**
**(508)**
Secondary school grants
**14,882**
**10,182**
Group tuition expenses
**0**
**765**
Individual children
**3,208**
**5,647**
**________**
**__________**
**Total**
**18,090**
**16,086**
**________**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
1,623
32,537
0
654
0
24,844
480
721
1,143
6,318
________
________
1,623
32,537
**________**
**________**|
|---|---|
The notes form part of these financial statements Page 6
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees’ expenses for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **4. ACCRUALS AND DEFERRED INCOME**
|**31/03/24**
**Restricted**
**Funds**
**£**
**31/03/24**
**Unrestricted**
**Funds**
**£**
Accruals and deferred income
**_0_**
**524**
**________**
**________**
**OVEMENT IN FUNDS**
At
01/04/23
£
**Unrestricted funds**
General fund
**4,253**
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**1,974**
711
1,263
0
0
**________**
**TOTAL FUNDS**
**6,227**
**________**|31/03/23
Restricted
Funds
£
31/03/23
Unrestricted
Funds
£
0
356
________
________
Net
movement
in funds £
At
31/03/24
£
**9,752**
**14,005**
**2,410**
(711)
1,737
0
1,384
**4,384**
0
3,000
0
1,384
**__________**
**__________**
**12,162**
**18,389**
**__________**
__________|
|---|---|
## **5. MOVEMENT IN FUNDS**
Net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 7
## **THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
**Comparatives for movements in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
Resources
expended
£
Movement
in funds
£
**27,116**
**(17,364)**
**9,752**
**20,500**
0
3,000
0
17,500
**(18,090)**
(711)
(1,263)
(0)
(16,116)
**2,410**
(711)
1,737
0
1,384
**________**
**________**
**________**
**47,616**
**(35,454)**
**12,162**
**________**
**________**
________
At
01/04/22
£
Net
movement
in funds £
At
31/03/23
£
**10,739**
**(6,486)**
**4,253**
**867**
867
0
0
0
**1,107**
(156)
1,263
0
0
**1,974**
711
1,263
0
0
________
________
________
11,606
(5,379)
6,227
**________**
**________**
________|
|---|---|
Comparative net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 8
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
26,397
2,730
750
1,500
480
0
________
29,127
________|Resources
expended
£
Movement
in funds
£
(32,883)
(6,486)
(1,623)
(906)
(237)
(480)
(0)
1,107
(156)
1,263
0
0
________
________
(34,506)
(5,379)
________
________|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|At
01/04/22
£
Net
movement
in funds £
10,739
3,266
867
867
0
0
0
3,517
(867)
3,000
0
1,384
__________
__________
11,606
6,783
__________
__________|At
31/03/24
£
14,005
4,384
0
3,000
0
1,384
__________
18,389
________|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds included in the above are as follows:
The notes form part of these financial statements Page 9
**THE ROWDOWN INSPIRE TO ASPIRE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Unrestricted funds**
General fund
**Restricted funds**
Fund A – piano lessons
Fund B – judo lessons
Fund C – art lessons
Fund D – secondary school grants
**TOTAL FUNDS**
|Incoming
resources
£
Resources
expended
£
Movement
in funds
£
53,513
(50,247)
3,266
23,230
750
4,500
480
17,500
(19,713)
(1,617)
(1,500)
(480)
(16,116)
3,517
(867)
3,000
0
1,384
________
________
________
76,743
(69,960)
6,783
________
________
________|
|---|---|
## **6. OTHER FINANCIAL COMMITMENTS**
The Foundation has committed to provide a grant of up to £1,500 to the parents of each of 44 pupils who were successful in gaining places at fee-paying or grammar schools. The commitment is for the academic year 2023/24 only (except for three families where a commitment has been made to support them for five years at £1,500 per annum) and is conditional on the parent providing invoices proving payment of such items as school fees, uniform, equipment or educational school trips. The Foundation will then re-imburse parents for 50% of the invoiced expenditure. Amounts remaining are available until the end of the academic year in July 2024. We estimate likely claims of these grants in our next financial year will total less than £9,000.
||2023-24|2023-24|
|---|---|---|
|No. of pupils|Awarded|Claimed|
|30|£31,750|£15,300|
||2022-23||
|No. of pupils|Awarded|Claimed|
|44|£39,500|£19,785|
## **7. RELATED PARTY TRANSACTIONS**
There were no related party transactions for the year ended 31 March 2024.
The notes form part of these financial statements Page 10
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examinerfs report on the
accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
The Rowdown inspire To Aspire Foundation
On accounts for the year
ended
3111 March 2024
Charity no
(If any)
1151220
Set out on pages
1 to 12
I report lo the trustees on my examination of the accounls of the abov8
charity {h8 Trusf) for the year ended 31103 12024.
Responsibilities and
bas18 of report
As the charty's trustees. you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011
(Ihe Act").
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 145(5)Ib) of the Act.
Indopondent I have completed my examination. I confirm that no material matters have
examlner's Statement come to my attention in connection with the examination which gNes me
cause lo believe that in, any material respect..
the accounting records were not kept in accordance with section 130
of the Charrties Act., or
the accounts did not accord wtth the accounting records., or
the accounts did not comply th the applicable requirements
conceming the fom and content of accounts set out in the Charities
{Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'tTue and fair. view which is not a matter
considered as part of an independent examination.
I have no ¢on¢ems and have come across no other matters in connection
with Ihe examination to which attention should be drawn in this report in
order to e
ble a proper understanding of the accounls to be reached.
Signed:
Date:
26
Name:
James Bray
Relevant professlonal
qualificatlonlsl or body
Ilf any):
FCCA
Address:
Constable Court
62 Dene Street, Dorking
RH4 2DP
IER
Oct 2023
Section B
Disclosure
Only complete rf the examiner needs to highlight material matters of conrn
(see CC32, Independent examination of charty accounts.. directions and
gubdance for examiners).
Glve here brief details of
any items that the
examiner wishes to
dlsclose.
IER
Oct 2023