REGISTERED CHARTTY NUMBER: 1165474 Report of Éh¢ Trwt¢es and Unaudited Flnatt¢l*l StatrmeDts for th¢ Year EDded 31 AUg8t 2021 ror Th¢ Ajhfonl Sehool Fouttd•ti0o
Th¢ Ashford Sehwl FotAndgtkn Contents of the FIDa#el#l SttsmeAts for tb¢ Year Ended JI August 2021 Report of the Trustees Independent Examlner'$ Report StatttheDt of Finanell Artlvtti¢s Balance Sheet Notes to the Flnao¢lo1 Statemellts 6 to 10 Detslled Stat¢ment of Fln*ncAal A¢tlvltles
The Ashford School Foulldatio Report of the Trustees for the Year Ended 31 August 21)21 REFERENCE AND ADMINIST114TIVE DETAIIS Regtst¢red Ch*rhy llber 1165474 Reglstered offlce The Foundation Office Ashford Sch1 Easl Hill Ashford Kent rN24 8PB Trustees The Venerable R¢v¢Tend Stephen Taylor- Chairnian Michael Hall- Head Teach¢r of Ashfiyd School Nicola Brigh¢lin Rory Montgomerie Sarah Ker5haw Katherine Floyd- appointed 24 FetAWy 2021 Independent Examlner Sarah Adamson Digges Barn Out Elmstead Lane Barham Canierbury Keni CT4 6PH Sollcltors Stone Kin8 13 Queen Square Baih BAI 2HJ Investment MAni8ers Brooks Macdonald 72 Welbeck Street London WIGOAY Approved by ord¢rof the oftrweeson................ ........................ sign&J on its behalf by: TheV¢ rable Reverend Steph ayltr MBE- Chair of Trustees
Independettt ExamiDer's Report to the of The Ashford School FoulldatiOD Independet exsmlner's report to the trustees of Th¢ Ashford 001 FouDd8tion {'the Compally,) I report to the charity ttwrees on my ¢xamination of the accounts for the year ended 31 August 2021. Re5PODsibllltles nd ba$ts ofrnport As the cbariW5 ttustees you are responsible for pre1¥0 of the aceovDts tn accordance with the ro4uir¢ments of the Chari¢ies Act 2011 (Ihe Ad). I relxirt in respect of my examination of yow cbarity's olts as carried out U]er Section 145 of the Charities Act 2011. In ¢arrying out my examination I have follow the DiTeCtI given by the Charity Commission under sKiion 145{5) (b) of the 2011 Act. IDdepettdent eiamlner'g sttemeDt I have completed my examination. l ¢onfinn that no maners have come to my attention in connlon with th¢ carnIn4t10n giving me ¢ause to believe that in any mwerial rwect: the accounting records were not kept in x¢ordae with section 130 of the Charities Ac¢ or the accounts did not accord with the a¢utIng records. or the accounts did not comply with the applicable wuirem¢rtts concerntng the forn] and content of the a¢counts set oul in the Chariiies (Acc(NJnts and Re1} Regulation 2(K)8 other than any requiremeni that the accounts give a'true and fair. view which is Dot a matter coL8idered &4 part of In independeni ¢xomin4tion I have no concerns ond have come a¢r0s5 no other matters in comiection with th¢ examin*ion to which attention Should be drawn in this rewi in order to ¢nable a proFYr UDdersrandin8 of the be reached. Sarah Adamson Dige5 Barn Out Elmstead Lane Barham Canteloury Kent CT4 6PH Page 3
The Ashford S¢hool Foundatm Statement of Financial A¢tfvilies for the Yur Ended 31 Aws¢ 2021 2021 2020 Total funds Unrestricted Restricted fimd fidS funds Notes INCOME AND ENDOWMENfs FROM Donations and legacies 1.547 I 1387 7.656 Investtnent incthne 17.859 Totsl 10.459 1&165 28.624 25,515 EXPENDITURE ON Raising ndS 2.516 2,578 4.715 Ch•rltable oetlvltles Bursary to senior school pupils Grant for Capit expendiwre 1.070 4.452 21,862 6.429 22.932 10,881 23,490 her 250 750 750 Tot*1 8288 31.369 39,657 28,955 Gains on sales of inyestments NET INCOMEI(EXPENDITURE) 8.IIY2 (7.664) 438 3,518 Gainsl(low) (m revaluation of investsnents 26.588 24.839 31.427 (6,923) 34,69) 17.175 51.865 (3.405) RECONCILIATION OF FUNDS Totsl tUDds brought forward 326297 241.323 567,620 571.025 TOTAL FUNDS CARRIED FORWARD 238 498 567 620 The n(rtes fomi Frt of these fmancial #atements Page 4
The Ashford SehoDI FouDdatio Balance Sheet 31 A¥gu$t 2021 2021 2020 Total funds fimd funds FIXED ASSETS Investmen 296.893 277J68 574261 508,939 CURRENT ASSETS Cash in hand 65.414 3.492 68,906 82.921 CREDITORS Amounts falling due wtthin one year (lJ20) (21362) (23,682) (24,240) NET CURREiYf A&SETS 45224 58.681 TOTAL ASSETS LESS CURRENT LIABILITIES 360.987 258,498 619.485 567,620 NET ASSETS 258,498 619485 567.620 Unrestricted fimd5 Restricted fi]nds 360.987 258 498 326.297 241.323 TOTAL FUNDS 619485 567.620 The notes forni of these fubancial stateMts Page S
The Ashford Sch1 FouDd8¢10 Note$ to the FAn8ncial Statew¢Dts for tbe Ye•r Ended 31 August 2021 ACCOUNfiNG POLICIES Basis off prep¥4riDg the Ilnincial sttem¢nts The financial Suements of the ¢harity. which TS a public ttnefit entity und¢r FRS 102, have been prepared in accordanc¢ with the Charilies SORP IFRS 102) 'Accountxng and Reporting by Chariti¢s: Statemeni of Recommended Practice applicable to chariti¢S pr¢wing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republie of Ireiand (FRS 102) {¢ffective l January 2019),. Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in th¢ UK and Republic of ¢land'. The finan¢ial statements have been Fyepared under th¢ historical c4JSt conventiffi, with the excewion of investsnents which are included at motk# valu Ineotne All income 1$ rwised in the StytMn¢nt of Ftnancial A1vItieS onrx the charity ¢nti¢l¢mcnt to the fund& 1¢ is probable that the in¢ome will be re¢eivryJ and the amowii can mwured reliabty. Expendltllr¢ Liabilities are recognised &$ expenditure as soon Ls thtre is a legal or construciive obligation committtng the harity to thai expenditure. it is PTobable that a trnnsf¢r of economic benefits will be r¢quir¢d in settlement and the amount of the obligalion can be mt05ured reliably. Expthditure is IoWIt? for on an accntal$ b&si5 and has been classified under headings th a88regate all cost reled to the category. Where ¢osts cannot be dir¢¢tly a¢tribut¢d to parti¢ular headings they hav¢ be allocated to xtiviti¢s on a basis ¢onsistent with th¢ use of r¢sources. Taxatlon The chariiy is exempt from corrx)raticrf) tsx on its chritable a¢tiviiies. Fund *¢countln8 Unrestricted funds can be used in accordan with the charitabl¢ obj¢¢tive8 at the dixretion of the tN$tee$. Restricted fith(ts can onty be used fcrf particular restrict purrM)w within the objects of the ¢haTity. Restrictions arise when specifi by the thDor(r whffi fimds are rnised fw particulAT restrieted PUT[¢5. The Bratby-malpas fund is restricted io providing bursary wisthnce to students who attended th¢ junior school. The &%si5ted places fId 1$ restricted to providing financial assistance towards school and the capital projl% fund reflects donations given specifically wwards development of school faciliiies. INVESTMENT INCOME 2021 2020 Dividends RAISING FUNDS 2021 2020 Investment management Donation ¢051e¢tion fees 4.833 261 4,456 259 Page 6 continu¢d..
The A51tford Sebool FoundatloD Notes to the FiTranciai StsteJDtDts- eO#tinued for the Year Ended 31 August 21r21 NET INCOMEI(EXPENDITURE) N¢t iDcomel(exkIlU[e) is ststed after chargin((litID8). 2021 2020 750 750 TRUSTELS. REMUNERATION AND BENEFITS There were llo tru5tees' remunernion or other benefity ts the year ended 31 Augusi 2021 nor for the year ¢n(kd 31 Au8USt 2020. Trustees, ¢xpenses Th¢re were no tnLSte¢s' expeDS¢S poid for the year ended 31 Augu5t2021 nor for the year ended 31 August 2020. COMPARATIVES FOR THE STATEMENf OF FINANCIAL AcfiviTIES Unrutricted fund Restricted fund$ Totsl fijnds INCOME AND ENDOWMEiYfs FROM Donations ond legacies 2.364 5.292 7,656 Investment incom¢ 626 Total 11.597 13.918 25.515 EXPENDITURE ON Raising fund5 2.384 2,331 4.715 Chthrftsbk actlvltles Bursary to senior school pupils 14,436 9.054 23,4 Other 232 518 750 TotAI 17.052 11,903 28.955 Net gains on investments 18 17 35 NET INCOMFJ(EXPENDITURE) (5.437) 2,032 (3,405) RECONCILIATION OF FUI¥DS TotAI fvnds brought fornrd 331.734 239291 571.025 TOTAL FUNDS CARRtED FORWARD 326 241323 Pa8¢ 8 ontinued...
The Ashford Sehool FovDd*tioD Notes to the FlniTrci&l StstemeDts- eontiBued for the Year Ended 31 August 2021 FIXED ASSET INVESTMEiYrs Listed investments MARKET VALUE At I September 2020 Additions Disposals 481,565 140.897 127,002 At 31 August 2021 495 460 PROVISIONS At I September 2020 Ftrovision for year (27,374) At 31 August 2021 78.801) NET BOOK VALUE At 31 August 2021 574 261 At 31 Augus¢ 2020 508 939 There were no invutment a&sets outsid¢ the UK. CREDrroRS: Amouiyfs FALLING DUE WITHtN ONE YEAR 2021 2020 Accrued expenses MOVEMENT IN FUNDS Net rnovem¢nt At 31.821 At 1.9.20 Unrestricted funds General fund 326297 34,690 360,987 Restricted funds Bntby-malpas fijnd Capital projects fund 236.490 4.833 22,008 258.498 241 17,175 258.498 TOTAL FUNDS 567 620 619485 Pa8e 8 ¢olltinue41..
Tb¢ Ashford S¢bool FOndati Notes to the Financial StsteJDeDts- ¢oDtinued for tbe Year Ended 31 Ag$t 2021 MOVEMENT IN FUNDS- co#ti4ued Net movement tn included in the above ar¢ as follows: Incoming Gains and losses Movement in funds exnded Unre5tri¢ted funds Generdl fimd 10,459 (8,288) 32.519 34,690 Restrktsd funds Brdtby-malpas fund Assistrd places fimd Capitsl projects fund 8J25 8,075 (16,696) {8.075) 30.379 22.008 4.833) 30.379 TOTAL FUNDS 28.624 39.657) Comparatlves for movemelll ID N¢1 movem¢nt in fimd5 At 31.8.20 At 1.9.19 Unrestricted General fid 331,734 (5.437) 326,297 Restricted fulld$ Br#tby-Malpas fimd Capital projects fijnd 236.490 236,490 2.032 241.323 TOTAL FUI¥DS 571025 567 620 Comparative movenient fiJDd& ith¢luded in the above as follows: IncomiDg Resources eX[d Gains and 105ses Movement in fi]nds Unrestrieted funds G¢n¢ra] fund l iJ97 (17.052) 18 {5.437) Re$tTiCted funds Bratby-Malp&8 fi]nd Assisted places fimd Capitsl projects fi]nd 8,626 2,952 2.340 (8,643) (2,952) 308 17 2.032 13.918 11.903 17 TOTAL FUNIYS 25.515 28.955) 35 3.405) Pa8¢ 9 continued...
The A8bford S¢bool Foundatio Notes to the FTnan¢i*l StaleTreDts- eottthilled for the Year Ended 31 Augujt 2021 MOVEMENT ll¥ FUNDS- contlDued A ¢UTrentyear 12 months and wior year 12 tnonttLS Cotnbined w)sition is follows: Net movement At 31.821 Ai 1.9.19 Unrestricteil thnds GtraI fiuHI 331.734 29253 360.987 Restrieted funds Brdtby-Maip&5 fimd Capital Projects fund 236,490 2.801 22,008 2,801 258.498 239 19207 258,498 TOTAL FUNDS 571,025 48.460 619485 A current year 12 m¢)nths and Pri year 12 months combined net movemellt in fthids, included in the above aTe &s follows.. Incomillg Resources Gains and tesvjrtes expended losses Movement in fimds Unrestrieted hnds General fijnd 22,056 (25J40) 31537 29.253 Restricted fundi Bby-MaIp filltd Assisted places fimd Capital proj¢¢ts fund 16.951 11,027 {25J39) (11,02D 30) 22,008 .801 43 72 19207 TOTAL FUNDS 54.139 68.612 48.460 io. RELATED PARTY DISCLOSURES There were r¢lat¢d paty transactions for the year ended 31 August 2021. Page 10 This rAg¢ does not fwm part of the slatuiory fin#n¢ial &atements Pagell