Charity Registration Number : 1164561
CHRISTOPHER FENNER EDUCATIONAL FUND TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
CHRISTOPHER FENNER EDUCATIONAL FUND TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 - 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 14 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTOPHER FENNER EDUCATIONAL FUND
I report on the accounts of the charity for the year ended 31 December 2020, which are set out on pages 8 to 14.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, (the 2011 Act), and that an independent examination is needed.
It is my responsibility to:
-
(i) examine the accounts under section 145 of the 2011 Act;
-
(ii) to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act; or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
………………………………………….
Anthony Kelly FCCA
6 South Bar Street Banbury Oxfordshire OX16 9AA
Dated: …................................................
7
CHRISTOPHER FENNER EDUCATIONAL FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Incoming resources Donations and legacies Charitable activities Investments Total incoming resources 7 Resources expended Raising funds Charitable activities Other Total resources expended 7 Net income/(expenditure) Transfers between funds Net movement in funds 6 |
2020 2019 Total Total £ £ £ £ 3,138 - 3,138 3,056 - - - - - - - - Unrestricted Funds Restricted Funds |
|---|---|
| 3,138 - 3,138 3,056 |
|
| - - - - 3,928 - 3,928 5,164 210 - 210 240 |
|
| 4,138 - 4,138 5,404 |
|
| (1,000) - (1,000) (2,348) - - - - (1,000) - (1,000) (2,348) |
|
| Reconciliation of funds Total funds brought forward Total funds carried forward 6 |
7,600 - 7,600 9,948 6,600 - 6,600 7,600 |
8
CHRISTOPHER FENNER EDUCATIONAL FUND BALANCE SHEET AS AT 31 DECEMBER 2020
| Note Fixed Assets Tangible Assets Current Assets Debtors Cash at bank and at hand 2 Creditors: amounts falling due within one year 3 Net Current Assets/(Liabilities) 6 Total Assets less Current Liabilities Funds of the Charity Restricted Income Funds Unrestricted Funds 6 |
2020 £ - - 6,810 6,810 (210) 6,600 6,600 - 6,600 6,600 |
2019 £ - - 7,840 |
|---|---|---|
| 7,840 (240) |
||
| 7,600 | ||
| 7,600 | ||
| - 7,600 |
||
| 7,600 |
The financial statements were approved by the Board of Trustees on ………………………………….. and were signed on its behalf by:
…………………………………………………… Mr Michael Fenner - Trustee
9
CHRISTOPHER FENNER EDUCATIONAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 ACCOUNTING POLICIES
Basis of preparation
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (September 2015) and the Charities Act 2011.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Income
Income is recognised and included in the accounts when the Charity has entitlement, any performance conditions attached to the income have been met or are fully within the control of the CIO, there is sufficient certainty that the receipt of the income if probable and the amount can be measured reliably.
10
CHRISTOPHER FENNER EDUCATIONAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Expenditure
All expenditure is included on an accruals basis and is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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 from specified by the donor or when funds are raised for particular restricted purposes.
11
CHRISTOPHER FENNER EDUCATIONAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2 CASH AT BANK AND IN HAND
| 2 CASH AT BANK AND IN HAND |
|
|---|---|
| Lloyds Bank - current account 3 CREDITORS Accruals |
2020 2019 £ £ 6,810 7,840 |
| 6,810 7,840 |
|
| 2020 2019 £ £ 210 240 |
|
| 210 240 |
4 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020. There were no trustees' remuneration or other benefits for the period ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020. There were no trustees' expenses paid for the period ended 31 December 2019.
5 RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020. There were no related party transactions for the period ended 31 December 2019.
12
CHRISTOPHER FENNER EDUCATIONAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6 FUNDS SUMMARY
| Unrestricted funds General fund TOTAL UNRESTRICTED FUNDS |
At 1 January 2020 Net movement At 31 December 2020 £ £ £ 7,600 (1,000) 6,600 |
|---|---|
| 7,600 (1,000) 6,600 |
13
CHRISTOPHER FENNER EDUCATIONAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
| 7 INCOME Donations Grants Legacies Bank interest received EXPENDITURE Student awards Postage, printing and stationery Fund raising expenditure Sundry expenses Insurance Independent examiner's fee NET INCOME/(EXPENDITURE) |
2020 2019 £ £ 3,138 3,056 - - - - - - |
|---|---|
| 3,138 3,056 |
|
| 2020 2019 £ £ 3,928 4,860 - 53 - - - 251 - - 210 240 |
|
| 4,138 5,404 |
|
| (1,000) (2,348) |
14