Downe House Foundation Annual report and financial statements for the year ended 31 August 2021 Registered Number: 9094389 Registered Charity Number: 1159259
Downe House Foundation Annual report and financial statements for the year ended 31 August 2021 Conlgnts Page Trustees, officers and advisors Report of the Trustees Independent auditors, report Statement of financial actiwties, including the inrne and expenditure account Balance sheet 10 Cash flow statement 11 Notes lo the financial slalemenls 12-16
Downe House Foundation Trustees, Officers and Advisors Trustees and Directors The Trustees and Directors of the Company who were in office during the year and at the dale of signing the financial slalemenls were". Mrs FM Holmes Ms AF Hazlitt Mrs PB Amif(age Mr JA Hanbury Mr NM Homby (Chairl {Appointed 1 October 20201 Registered offlce Downe House Foundation Cold Ash Thalcham Berkshire RG18 9JJ Independent Auditors Pricewalerhousecoopers LLP 2 Glass Wharf Bristol BS2 OFR Solicttors Farrer & Co 66 Lincoln's Inn Fields London WC2A 3LH Bankers Lbyds Bank plc 5 Bridge Street Newbury Berkshi RG14 5BQ
Downe House Foundation Report of the Trustees The Trustees presenttheir annual report and audrted financial StsleMts forthe year ended 31 August 2021. The infomiatKJn wrth respect lo Trustees. Officers and Advisors set out on page 1 forTn3 part of this report. The financial statements comply with the Statement of Rgcommended Pradiee'Accounting and Reporting by charit IFRS1021" Irevised 20151. The financial stslemenls have been prepared in aCCtrdan with the special prowsions relating to Companies Sublt lo the small Companies regime wrthin Part 15 of the Companies Act 21, 'The Small Companies and Gioups IAccounls and DirtOrS, Rgport) Regulation$ 2008.. STRUCTURE, GOVERNANCE AND MANAGEMENT Status and Administration Downe House Foundation I'lho Foundation") is a charitable company limf(ed by guarantee and a registered charty governed by its Memorandum and ArtleS of Association dated 19 June 2014, company gistered number 9094389 and charty registration number 1159259, The Foundation was incorpor*d on 19 June 2014. Downe House School is the sole member of Downe House Foundation. The Downe House Foundation is managed independenlty of the Sehool and has a separate board of Trustees. The Financial results of the Foundation are included in the consolidated financial statements of Downe House School. Induction and tralnlng of Trustaas All new Tru51ees undertake inductK)n and training the content of which depends the indThiKlual's knowledge of the Foundation and profg$sional experEn¢o. Trustees are encouraged to attend appropriate seminars and training courses. The Trustees, oryanlsatlonal structure and declsion mak5ng The Truste6s meet at least once per year and more regulady rf required. Given the objectwes of the Foundth'on a Sub Committee struciure is not required. Trustee meetings consider all appropriate matters but are primarity fthjjsed on the fundraising actThirtl8s of the Foundation. The Trustees comprise all the directors of the company. The Trustees, all of whom seNed throughout the year to 31 August 2021. unless noted below are as listed on page 1. OBJECTIVES AND ACTIVlnES Objects The objects of the Foundation are 10 2Avance education by the provision of fiJThYing, assfftstae a1 support lo Downe House School. Aims and Intended impact The Fountjalion exists to provide support lo Downe House School in furtherance of its objects. Pollcy and objectives for the year The main poliCS and objectives for the year are lo raise fund5 for educational building projects at Down8 Houso School.
Downe House Foundation Grant Maklng Poll¢y The Foundation will make donations lo Downe House School lor spe¢ffi¢ projects at the discretion of the Trustees. Public Bonefit Having regard to the general guidance on Public Benefrt from the Charty Commission, as set out in section 17 of the Charities Act 2011, the objectives of the Foundation include the furtherance of education by the provision of fvnding, assistance and support to Downe House Schc(4. Fundralslng The principal source of funds eonsists of donations in support of the Downe House 10 Year vision which seeks to raise funds for capf(al projects. Expenditure All expendiluTe has been in support ol the objects of the Foundation. The majority of costs associated with the fundraising activities of the Foundation are incurred by Downe House School. During the year the Foundation did not make a donation lo Downe House School. Investment Policy In order to safeguard assets arising from donations the assets of the Foundation are held as cash balances. 11 is considered inappropriate to expose such assets lo possible investment risks and lossos. Finan¢lal Review Achievements and Pgrformance Review of the year Tho Foundation has received £0.1m {2020 £0.1 ml in donations. The nel assets of the Found*ion 8131 August 2021 were £0.4m12020 £0.3ml. The Trustees consider that the level of net incoming resourees is appropriate lo the objectives of the Foundation. Reserves Pollcy As described in note 7, the Foundation's resetves are fijlty represented by nel current assets. There are no free funds beyond the extent of these assets and commrtmenls. The Trustees consider that the existing level of reserves 1s appropriate for the needs of the Foundation. This policy is reviewed al least annualty. Unreslricled funds comprise accumulated surpluses and deficf(s on general funds. They are available for use al the discretion of the Trustees in furtherance of the general charitable objectives. Reslrthd funds are subject to specific condrtions imp)sed by the donors.
Downe House Foundation Risk Assessment In the light of the Corporate Govemance guidance contained within the Statement of Recommended Practiee 'Aceounting and Reporting by Charities IFRS1021° (revised 2015}, the Trustees have examined the major risks faced by the Foundation. A system of controls has been put in place lo monitor and mrtigale, where possible, the major risks identified and their Impad on the Foundation. Risks are identified and assessed, and controls are established throughout the year. A formal review of the risk management process is undertaken on an annual basis. The following key risk areas are considered.. Governance & Management. Potential missed fundraising opportunrties. Appropriate due diligence regarding o¢¢eplance of donations. Govemance & ManagemonL The day lo day management of the Foundation is delegated lo the Headmistress, Deputy Head, Director of Finance and Director of Extemal Relations of D¢)wne House School. The Trustees meet al least once per year and more regularty if required. Trustee meetings consider all appropriate mattefs but are primarily f¢xused the fundraising act1vti ofthe Foundation. Donatlon sources It is anlicipaled that the primary source of donations will be parents or past parents of the pupils of Downe House School and alumnae. af(hough fundraising actwities include all areas of potential donations th81 can be identified. Plans for Future Years The Foundation intends lo continue lo raise funds in furtherance of ils objects. A potential new Transformational Bursary campaign is being devek)ped, along wi(h greater utilisalion of online communications, images and video$, supported by the Sch¢)ol appointing a new Digrtal Marketing Manager. Statement of Trustws. rnsponslbllltlos The Trustees Iwho are also directors of Downe House Foundation for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial slalemenls in aordanCe wrth applicable law and fegulalions. Company law requires the Trustees lo prepare financial slalements for each financial year. Under that law the Trustees have prepared the financial slalemonls in accordance with Unrted Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of the affairs of the charitable company and of the incoming resources and application of resources. in¢luding the income and expendrture, of the charitable company for that year. In preparing theso financial statements, the Trustees are required lo". select suitable accounting policies and then apply them Consistent.. obsetve the methods and principle5 in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial slatemenls." and prepare the financial statements on the going concern basis unless f( is inappropriate to presume that the charitable company will continu8 in business. The Trustèè$ arè rasponsiblg for keepin9 adequate accounting r•eord$ that are sufficient to show and explain the charitable company's Iransaction5 and disclose with reasonable aceuracy at any lime the financial position of the charitable company and enable them to ensure that the financial slalemenls eompty with the CompanEs Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Downe House Foundation The Truslees afe reSFr1e for the rnafftIetrtt ar#J inlcgrty of the ch*iiable company's website. Legtslaiwi in the Unrted IGn9dn goNrming ihe prOparan diss(xninalv)n c finan¢xII stsiemonts may dttlef from oihcf juri&fLtions. Stsi¢ment on disclosure of inlomMilon to tho audllovs So lar as Tntsiets are aware.. Ipwe is relcvafii aLtydit infmlion ofwlxh Ihe clkintable ¢ryrpty$ alrtOrs Un(¢. the TnJsle# have tsken al steps Ihal wJhl lo have laken to rroke It¢mskn a•Are ol ary rthvanl 34 infrxrnatle and to esiablrAh that tho we aware of IhJ informakn. Indepèrmhnt Audil¢VS Tho Wd¢$. LLP, indiEuted theff l1•r43neSS io c¥Jnlinuc in off¢e and a res0110n coruming Iheir 2PPCffltsr will be prcposod al Ihc Novemter 2¢f21 Brd Me¢bn9. R•pt01 Tntstee5 signod ¢)n behalf of the Boa ol TNstees on 25 November 2tr21 A F Hazlitt Tntst¢¢
Downe House Foundation Independent auditors, report to the members Downe House Foundation Report on the audit of the financial statements Opirrion In ouropinion. Downe House Foundation's financial Statements lthe'financial statements.).. giyea true and fair eW of the stateof thecharitable compan5 affairs asat 31 August 2021 and of its incoming wurees and application of resources. ineludingits income and expendihjre. and (xsh flows, for the year then end,. have been properly prepared aceordanee Mqth United Trtingdom Generally Aecepted Aeeounting Prnctice (United Kingdom Accounting Standards, comprising FRS 102 The Financial Reporting Standard applicable in the UK and Republicof Ireland", and applicableiaw)., and have been prepar&1 in awordance with the requirements of the CompaniesAet 2006. We have audited the finaneial statements, included within the Annllal Report and financial statements (the "Annual Report"), which comprise.. the balanee sheet as at 31 August 2021. Statement of fiThancial actLVities it)cluding the ineome £nd expenditure statement and the cash flowstatement for the year then ended. and the notes to the financial statements, which inelude a description of significant accounting polieies. Basis for opirrion We eondy¢ted ouralldit in accordan International Standards onAuditing IUKI {"ISAs IUK}"l and applicable law. Our re8poThsibilities under ISA8 (UK) are further described in theAudIto, rwoJJsibilits&s for ihe aiidit of the finanetal statements section of our report. We believe that the audit edenCe we have obtained is sufficient and appropriate to provide a basis fOr0rOp1n10ll. Independen We rell]ned independent of the eharitable Company in aecordance Mryth the ethieal requ2rements that are relevant to our audit of the financial statements in the UK which indudes the FRC'S Ethieal Standard and we have fulfilled ourotherethical responsibilities in accordance these requirements. Based on the workwe have performed. we have not identified any material UnrtaIntieS relating to events or conditions that, indiduallY0[ collectivelyj IIiay cast significant doubt on the eharitsble eompany's ability to continue as a going COnrn fora period of at least twelve month5 from the date on which the financial Statements are autlLofi5ed for issue. In auditing ttle financial 5talernents, we have concludd that the trustees. of the 8oin8eontrrnba$i$ of accounting LIL the preparation of the financial Statements is appropriate. However, beeallse not all fijture events or conditions can be predicted, this condusion is nota guarantee as to thedharitableeompanys ability to continue a$ a going¢otteem. Our JYsp)nsibilities #nd the reswjnsibililiesolthe tnt with ret to going LY)ncern are dried in the relevant StionS of this report. Reporting on other information The other infortnation (x>1nprl all of the informatiOTL in the Annual Report and finaneial statements other Ihan thefinancial statements and our auditors, report thereon. The trusteesare responsible for theother information. Our Opinion tsn thefinancial statements d8 n(rt coyerthe other inforniation and. accordinglyi we do not express an audit opiniott or, except to the extent tsthetwse explicitlyststed in th report. any forni of assurance thereon. In etsnneetion with our audit of the financial statements. our reS)nSIbl]ity is to read the other information and, in doing SK). considerwhether theother information is materially in(x)nsistent hith thefinancial stsiements or our knowledge obtsined in ihe audii. or otherwtse appears 10 be InaierSally mSssLa1t. If we identify art apparent rwaterial itleonsisteney or aterial misstste]nent, we are requird to perforni pr(¢edures to wnclude whether there is a material misstatement of the financial ststements or a material n)isstatement of theother inforniation. If, based on the work we haye performed, we conclude that there is a material mtsstatemetht of thi$ other inforniation, we are required to report that faet. We have nothing to report based on these responsibilities.
Downe House Foundation Bas on our work llndertaken in the course of the audit, the Companies Aet 2006 wuires us also to pOrt certain OPiDions and matters as da%LYib below. Rejxiri to ihe TrttstLYS In our opinion. based gn the workundertaken in the c¥)urse of the audit the InforntiOn Yell in the Report to theThistees for the finaneial yearfor which the financial statements are prepard is consistent with the finaneial statements. and Report tr theThtee$ Ihave beett prepar&1 Tn accordan with applieable legal requirements. In addition, in light of the knowledge and underntanding of the eharitable eompanyand its enmronment obtsined in the llrSe of the audit, we are required to report if we have identified any material mi&8tatements in Report to theTrustees. We have nothing to rert in this kr8Wt. ReSnSIblt1es tsf the ir£e$for thefjnQQCdstOteets As explained motE fully in the Statement of Th]stees responsibilities, the trust Iwhoare also the direeto of the charitable company for the puryoses of company law) are resw)nsible forthe preparotion of the finan¢ial statements in aeeordance with the applicable frameworkand fOringsatisfid that they givea true and fair ew. The trustees a alw resp)nsible forsueh internal control a$ theydetermine is nece&8ary to enable the pLpatiOn of financial statements that are free from material misstatement, whetherdue to fraud or error. In PParIng the financial ststements. the trustees are reswnsrl>le for assessing the ¢haritable COMpanS ability toeontinue as a going conrn. dilOSing 2$ applieable, inatters relat togoing Concern and using the goingeonrn basis ofaccounting unlw the tntstees eitherintend to liquidate theeharitable company QT to wse operdtlons, or have no realtic altsrnative but to d050. Aiidiiors. slI51b11ltlvs[tsT iheoudil ol Ihe:iJnoiiciol srL7tements Our objectives are to obtsin re2sonable agsllrance ab)vt whetherthe finaneial statements as a whole are free frotn tnaterial misststement. whether due tr> or error, and to Ie an auditors, report that indudes our opinion. Reasonable a&8uraE)ce is a high level of assvrance, bui is not a guardnte that an audit condueted in aceotXlan Mryth ISAS (UK) will always detect a material mi$5tateEnent when it exists. Misstatements can arise from fraud orerrorand are considered material if, individually or in the aggregate. they eould reasonablybe expect1 to influentr the wnomie dtrisions of users taken on thebasis of these financial statements. IrregularitLe5, indudingfraud. are ]tan(S of non-complianee laws and regulations. Wed&sign pr(r8Jure5 in line wTrth our respon8Th1 ilities, outlined above, to dete£t material misstatements 1]] respect of irtEgularities, including fraud. The extenl to which our pr(KEdures are capableof detecting irregularitie8. including fraud, is detaild below. Based tsn our understanding of the charitable company, we identified that the principal Tisks of non- compliantr with laws and regulations related to employerle8islatttsn, and we considered the extettt tr)Mthich non-compliance might have a material effect on the financial statements. We also considered thoselaws and regulations that have a diteet impact on the fiTncial statements such as theChariti&s Act 2011 and Regulation Is of The Charities (Ae¢ounts and REports) Regulations 20081. We evaluated Tnanagement'$ inttntives and opportunities forfrdudulent manipulation of the financial stalements (including the riskof override of controls). and deterniined that the principal risks were related to fraudlllent transactions designed to oyerstate the financial performatJ¢aDd position of the charity- Audit pr(Ktdures performed induded: R&ryewing Board minutes and holdin£ dIscu70nS with management, includingeonsiderdtion of known orsuspected instances of non-complialltr with laws and reglllations and fraud. Usingeomputer based audit teehniquesto identify and test higher risk rnaTJual journa]s. in particular those having unusual account combinations. and Obtaining third party confirniatiotL8 of all the charitablecompany'sbanking and financing arrangements. There are itjherent lirnitatio in the audit pr()eddesC alx)ve. We areless likely to beLThome aware of Instan of non-complian with laws and regulations that are not d(k%ely related to events and trdnsaetions reneeted in financial statements. A]so, the risk of not detting a material misstatement due to fraud is higher than the risk of J)ot detecting one re5ultinsfrom error, as fraud ]nay involve deliberate eoneeAlment by. for example. foL3ery or inteotional misrepre5etitations or through eollusion.
Downe House Foundation A fvrther description of our reSpon1]it)eS for theaudil of the finaneial ststements is loc*t on the FRC'S website at: wmryv.frc.org.uk/auditore$rIb]Ii1ie£. This description forn part of our auditots, retK)rt. Use of[h rewri This rerK)rt. incllldtng the opinions, has been prepared forand onty forlhe chariWs rnembern as a blY in accordan Mth Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpfyse. We do not. in giNTrn8 these opinions, acpt or assume responsibility foranyother purpose or to any other person to whom this report i55hown or into whose honds it may eomesave where expressly agtred byour priorconsent in writing. Other required reporting Companies Ae12006 eveption reporting Under the Companies Act 2006 we are required to report toyoll if, in ouropinion.. we have not obtsined all the information and explanatlonswe requtre forour audit. or adty4uate accounting records have not been kept or returns aauate for our audit have not been reIVed from brdnehes not vi$tted by us,. or eertain disclosur¢s of ttwstees. remunerdtion specifiedbylaw are not made., or the financial statements are not in agreement the accounting rordS and rern$. We have no exceptions to report ar1sin8fr0 th responstbility. Entitlement to uemptions Under the Companies Aet 2006 we are qUIt to report toyoll if, in ouropinion. the trustee5 were not entit]ed to.. prepare financial Statements in accordan with the small companies, regime., take advantsgeof the small compani&s' exemption in prepaTins theTrustees' Annual REW)rt,' and take adntage of the small companies exemption from preparin8a Stte8C Report. We have noeK(EPtLons to report arising from this responsiTr>ility. Andrew tatham (Seniorstatutory Auditor) foT and on behalf of Prieewaterhousecoopers LLP Chartered ALYountants and StatutoryAuditotE Bristol 3gNOvemr-2o21
Downe House Foundation Statement of financial activities including the income and expenditure account for the year ended 31 August 2021 un¢d R•8blet•d funds funds £'ooo £'ooo Totsl 2021 É'ooo Total 2020 £'ooo INCOMING RESOURCES Donaons and IwJo(ies Totsl In¢omg and endovmients 82 134 82 82 134 RESOURCES EXPENDED EXpendIhJ on charrtable ts"vits Total •xp•ndllurè INCOME 82 131 BEFORE TRANSFERS Tr8nsf8r5 tRbveen fvnds NET MOVEMENT IN FUNDS Is) 82 131 All amounts derive from continuing activities. All gains and losses recognised in the year are included in the slalement of financial activities. Thefe is no material difference bth8en the net movement in funds for the year above and their histori¢al cost equNalents.
Downe House Foundation 10 Balance Sheet as at 31 August 2021 Notes 2021 £'ooo 2020 £'ooo Current assets Cash at bank and in hand 427 350 427 350 Credf(ors.' amounts falling due within one year Nel current assets 151 422 Isi 345 Total assets less Current liabilities 422 345 Net assets Represented by.. Reslricled funds 216 134 Unrestrided funds, Retained income 211 Totsl funds 422 345 The financial statements have been prepared in accordance wrth the special provisions relating lo companres subject to the small companie5 rlme wf(hin Part 15 of the Companies Ad 2006, 'The Small Companies and Groups (Accounts and Directors. Report) RegulatKJns 2008.. The financial statements on pages 9 to 16 were approved by the Trustees on 25 N¢)vember 2021 and sign n their behalf by.. A F Hazlitt Trustee
Downe House Foundation 11 Cash flow statement for the year ended 31 August 2021 2021 £'ooo 2020 £'ooo Nel loutgoingyincoming resources InC8$e in Creditors 77 131 Nel cash inflowlloufflowl from operating activtties Increa$el{decrea$e} in cash in the year 77 131 77 131
Downe House Foundation 12 Notes to the financial statements for the year ended 31 August 2021 Principal accounting policies Downe House Foundation (The Foundation) is a charitable eompany limited by guarantee and a UK registered charty govemed by r(s Memorandum and Articles of Association company registered number 9094389 and charity gIStratIO11 number 1159259. The Foundation is a public benefit entity. The address of ils registered office is The Bursary, Downe House Sch(x)I, Cold Ash. Thalcham. Berkshire. RG18 gJJ. The financial statements have been prepared in aecordance with applicable Accounting Standard$ in the United Kingdom including Financial Reporting Standard 102 (FRS 1021, Companies Act 20C and the Charrties Act 2011. In preparing the financial statements the Foundation has followed best practice as set out in the Statement of Recommended Practice°Accounting and Reporting by Charities IFRS 102}° (revised 2015}. The financial statemonls have been prepared in acwrdance with the special provisions relating lo Companies subject to the small companies regime within Part 15 of the Companies Act 2006, 'The Small Companies and Groups {Accounls and Directors, Report} Regulations 2008., A summary of the more important accounting policies of the Foundation, which have been applied consislenlly, is sel out below. Basls of accountlng The fina101 slalements have been prepared on a going Concern and accruals basis under the historical cost convention. The functional and presentational Currency is £ sterfing. The Directors consider il appropriate to adopt the going concem basis and have not idenlrfied any material uncertainties in the year of at least 12 months from the date of approval of the financial slalernents. After making enquifies the Directors have a reasonable expe¢lalion that the Found8lK)n has adequate resources lo continue in operation for the foreseeable future. The exemption undeT s1.12 of FRS 102 has been taken not lo disclose full details of the Foundation's financial instruments as these details are included wrthin the consolidated financial $181ements of Downe House School. Donatlon$ All donations are shown in the statement of financial activf(ies under incoming resources and a accounted for on a recewable basis when receipt is considered by the Directors to be probable. Irrecovernble VAT Any irrecoverable VAT is charged lo the slalement of financial activities. or ¢apitalised as part of the cost of the related as5el, where approprialo. Expendlture All expendf(ure is included on an accruals basis and is recognisod when there is a legal or constructive obligation to pay for expenditure. Governance costs comprise the costs of running the Foundation, including external audit, any legal advice for the Trustees and all the costs of complying with constitutional and statutory requirements such as the costs of Board and Committee meetings. Recognition of Ilabl1e8 Liabilities are recognised when an obligation arises lo transfer economic benefrts as a result of past transaK)n$ or events.
Downe House Foundation 13 Principal accounting policies (continued) Fund accounting Unrestricted funds Comprise accumulated surpluse$ and deficits on general funds. They are available for use al the discreb.on of the Trustees in furtherance of the general charitable objectives. Restricted funds aro funds subject to specrfic conditions imposed by the donors. Critical accounting judgements and estlmatlon uncertainty Estimates and judgements are continually evaluated and are based on historical experience and other relevant faetors including expectations of future events that are believed lo be reasonable in the circumstances. Tho Directors do not believe that any crf(ical judgements have been made in preparation of the financial statements bul the following signrficant estimates have been made. Accruals and Prepayments are primarily a reflection of timing drfferens. Where estimates are required these are based on historical evidence. Donations and Legacies 2021 £'ooo 2020 Donati)ns 82 134 Total donations and legac5es 82 134 3 Net (expense)lincome 2021 £'ooo 2020 £'ooo Net lexpen$eyincome befo transfers are slated after charging.. - Donation to Downe HoLtse Sch(K)I Auditors, remuneration - for audf( services, net olval - for tax compliance ServeS, nel of vat - val on audit serv$ The average number of employees in the year, cakulated on a full time equivalent basis, was Nil 12020 Nill. Taxation The Foundation was a registered charity throughout the year and. as such, was not liable to ¢orporatn tax on the surplus of income over expenditure for the year. The Foundation is not registered for VAT and accordingty. all ts expenditure is rerded inclusive of any VAT incurred.
Downe House Foundation 14 5 Creditors: amounts falling due within one year 2021 2020 Accruals 6 Analysis of net assets between funds The net assets are held for the various funds as follow$'. Net current assets £'ooo Totsl Restricted funds 216 216 Unrestricted furKIs 2( 206 422 422 Funds Total 1 September InmIng Resources 2020 rgsources expended Trdnsfe £'ooo £'ooo £'ooo Total Investm•nt 31 August galns 2021 £'ooo Restrfcted funds ReslrKted fund 134 216 Unrestrfcted funds Retained income 211 {5) 206 Total funds 345 82 {51 422 Both funds seek lo raise funds for captial projects al Downe House School.
Downe House Foundation 15 8 Financial commitments Operatlng leases At 31 August 2021 the Foundation, had no annual cc*nmrtments under rlon-cancellable operaing leases. Trustees The Trustees do not reNe any remuneration. Expenses reimbursed for travelling undertaken behaw of the Foundation amounted lo £Nil {2020 Nill. No other key management personnel are empbyed by the Foundation. 10 Capital The Foundation is a company limited by guarantee. Each member has undertaken to contribute £1 to the assets of the company to meet its liabilities rf calkd on lo do so. The total amount guaranteed by member5 at 31 Augu$t 2021 was £5 {2020 £51. 11 Related party transactions Trustees donated a lolal of £Nil12020 £15,000) during the year. 12 Ultimate parent company and controlling party The directors rogard Downe House School. a company Ilmiled by guarantee and registered in England and Wales, as the company's ultimate parent undertaking and controlling party. Downe House School is the largest and smallest group of which the company is a member and for which group consolidated financi81 slalements are prepared. The financial statements of Downe House School may be obtained from the Company Secretary al the Company's registered office on page1.
Downe House Foundation 16 13 Comparative Statement of Financial activities for the year ended 31 August 2020 Unr•striet•d Rostslctgd fundg funds £'ooo £'ooo Total 2020 Nots¥ INCOMING RESOURCES Donations and •6$ Total Income and end0V?nts 134 134 134 134 RESOURCES EXPENDED Expendire on CharItae activth"&s Totsl expendl¢ure NETINCOME (31 134 131 BEFORE TRANSFERS Transfers betrn fvnds NET MOVEMENT IN FUNDS 134 131