REGISTERED CHARITY NUMBER.. 1165474 Report ofthe Trnrttts •na Umlldlted FI*iD¢lai Stslements f•r the Y#r Ende4 31 August 2012 Tht Athf•rd &hool FouortalloD
The A$hford Selmol Fovndation Cont¢nts of the Yittncl#l Stilements for the Year Ended 31 Augwt 2022 Pize Report of the Truste Independent Ex•mlner'i Rep•rt St•t¢meDt ofFlnandal Acdvlt Blath¢e Sbttt Notes to the Fln•n¢lal Ststethellts 6 to 11 Detalled St•t*mtnf of FI¢thI Ac¢lvld 12
The A•hford School F•undY4tion Report of the TruJte¢s for the Year Ended 31 August 2022 The tru5tee5 present their report with the financial statements of th¢ ¢h2rity for the year end 31 August 2022. The tees have adoptsd the prnvisions of AOnrts and RcportÈng by CILarities.' Stst¢ment of R¢comm¢llded Pradi¢e applicable to ¢h4Thtj¢S LD preparing their accounrs. OWECTIVES AND ACTIVITIES The Foundation awarded bursaries to 13 pupiJ5 in the 2021122 academic year. The Fouttdation eontrhbuted betwee IOYfj and 40/0 of die aiinual f¢¢s for attending the senior school. FINANCIAL REVIEW Fln•nc141 Revlew Total incomiJ)g Te50urce5 amounted to £41,569, with totsi outgoing rtsourcrs Am¢unting to £48.IS4. Investment powers Thc Tru5tee5 bave wid¢ investment powers, subject to their obt4ining advice from A financial ¢xp¢rt. The TNsi¢es may delegotc the manag¢ment of investments to a fmancilll expert, subject, inter alia, to the Trustees settin8 down their vestmentpolicy in writing to the inwlm¢n¢ m4nag¢rs. Reserve5 poIIcy Th¢ Trusiees havc adopted • policy of reteining sufficiet2t CEgh to eover bursary fee8 xw2rded for one yeor plus £1,000 lo cover ollier annual expen$e3. Th¢ S¢liool provides ill the rtecessttry infTastructsJre aiid per80nnel ¢0 Tun the Foundation Offi¢¢ and pay for fundr8L$ill8 Costs. O¢lier ih8n grants awarded Ihe only OU01$ of the charity are tho$¢ irteurred In the Preparatiot) and examinlltion of thi8 annual report 8nd in Ilie pro¢e$$ing of p8ym¢nts r¢¢¢iv¢d by dirrtl d¢bit. STRUCTURE. GOVERNANCE AND MANAGEMENT Covernln8 doeument The ciwity is controlled by its 8overnin8 do¢umen( A deed of trust. Ind constitutes R limit cotnpany. limited by 8uaraThtee. gs d¢fined by the C¢)mpinieu Act 2006. Constltutlon chArltgbl¢ obJt¢ts Th¢ ¢li)rity is a Charitable Incorporat¢d Orginisation governed pursuant to a Constitution dated 8 February 2016. 111 objecla ar¢.. To Advance educatioTh ai A$hford School lih¢ "School") for the public b¢Thefit by Providin8 fvnding. a18[1¢¢ and Support in such i manner AS the charity tNslees shall d¢t¢miin¢ in¢ludin8 (without limitsiionl the ptovision of.. la) Funding to the School towards the upkeep aud d¢v¢lopm¢nl of its fa¢iliii¢s,' {b) Financial assistth¢¢ to pupi15 at the School towards the Cost of their school fees &nd 8enerAI ¢xpens¢s irteurred while ot the S¢hotrl. OryAnl¥Atlonil de¢lgio# m*klng The charity has a board of ttustees with a minimum of thrcc truste¢s and a maximum of twelve Iruslec$. The Director of D¢Y¢lopm¢nt of Ashford School and the Head t¢ach¢r of AshfoTd S¢hool #re ¢x-offi¢i¢ tru8i¢es. E&ch of thc Ashford School Association and the A5hford School Parenl Teacher Associalson leach an "appuiniin8 body") may appoint 8 5Lngle trustee. To dat¢ the Ashford School Association has notchos¢n to nominate a tru¥tee. Publle Beneflt The trjstees ronfimi th&t they have complied with th¢ duty s¢t out in s¢¢tson 4 of th¢ Ctwiti¢s A¢t 2006 to have de rcgord to guidance published by the Charity Commission, incluth.ng pJbli¢ benefit guid8n¢¢ when reviewing the cbaTitie8 8]ms attd obje¢¢iv¢$ and its plat18 future actiyities. Related p2rt1e8 The charity iw no related parts"¢s. but exists to advance eAucatioA at the School for the public benefit. Page I
Th¢ A$hford School FouRdatioD Report of th¢ Trustees for the Year Emded 31 August 2022 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1165474 Rtglst¢red office The Fouhdation OtTi¢e A$hford School Easi Hill Ashford K¢ni TN24 8PB Trusteej The Venerable Rever¢nd St¢phen Taylor- Ch8irn)att Michael Hall- Hd Teacher of Ashford Schijol Nicola Brightlin8 Rory Monigomeri¢ Sarah KtTshaw- re8i8ned April 2022 Kotherine Floyd Michelle Kraw¢zyk- Appointed February 2023 Nicola Ralchford- appoioi¢d F¢biwary 2023 Independent EiimlDer Sarah Ad&rnsort Di88es Barn Out Elmstead Latte Barham Clnterbury Kent cr4 6PH Solleltors Stone Kin8 13 Qiieen Square Bath BAI 2HJ Investment ManA8ers Brooks Macdottold 72 Wclbe¢k Street London WIGQAY Approved by onl¢r of the board of truyte¢5 on 12 Junc 2023 and signcd OTh its behalf by. The Vene le Reverend Stephen T lor- TnJ$ree Pag¢ 2
IDd¢pendent Ex#rnln¢r's Report to the Trust¢es of The Ashford Sehool FouthdatioD Independent examiner's report to the trustees of The AshfoTd Srhool Foulldatio I rew>rt to the charity tru5trcs on my cxamination of the accounts for th¢ year ended 31 August 2022. RespoDslblllde$ And basls of report A5 the chiLity'5 trustccs you are respoNsibl¢ for the pr¢p8rntion of th¢ a¢¢ouryts in accord8Dcc with the rtquir¢ments of the Charities Act 2011 {'the 2011 Aci). I report iti respect of my eXlIndI1¢n of your charity's occounts as ufried out under Scclion 145 of th¢ Chariti A¢t 2011 Ilhe 2011 Aci'l. In ¢8rryiiig out my ¢xamitsation I hav¢ followed the DirectLOt15 giv¢ft by th¢ Chanty Commission und¢r Se¢tiotL 145{51 Ibl of the 2011 Act. Independettt ex•mlner's statement I liave completed my examination. I Thr]rnI thAt no mpdtton have rne to my attention in connecuon with th¢ ¥xnin40n giving me ¢aus¢ to believe.. a¢countins record5 wcre not kepi in Tespect ofth¢charity in a¢¢ord&nce with section 130 of ihe Chgriues A¢t.' or the accounts do not a¢cord with those r¢cord8' OT the 8CCOUDts do not comply with the applicable requirements conMIn8 the fonn and conte of the A¢¢ounts sei out in the Charities (Accounts and Reports) R¢gulition 2008 other than Any requJr¢ment thRt the ae¢ounty give a 'tnJe and f4ir' view whi¢h is not a inalter coiisidered lls part of an ind¢p¢ndent eXnin3t]0n. I have no eoncom$ and have eome Aerets fio other m&tt¢rg in connection with tho ¢xAmination to which 4ttenlion should be drawn in thi8 r¢pori in Ord to ¢n&ble o proper understsnding of the accouttts to be reached. Sarah Adamgon Di88es Barn Out Elmstead Lloe Barham Cht¢rbury Kent CT4 6PH Da*.. P2g¢ 3
The Ashford Schrrfbl F•uud•tlo ststement of Fluaneial Activities for the Year Ended 31 August 2022 2022 Total funds 2021 Tot&l nds Unrestricted Restricted nds Notes INCOME AND ENDOWMENTS FROM Do]]ation$ and legacies 1.220 23.070 24,290 I l J87 Investment ineome Totnl EXPENDITURE ON Rai51n8 fund$ 2,603 2,725 5,328 S.094 Charltoble actlwltles Bursury to senior school pupil$ Grant for cipital exp¢ndith]re 6,492 35.584 42.076 22.932 10,881 (hh¢r 250 soo 750 750 Net g&in51llossesl on inveBtsn¢rtlS 24 0591 22 4761 46 3351 ,YET INCOMEI(EXPENDITURE) 123,251) 129,869) 153,1201 51,865 RECONCILIATION OF FUNDS Ttstsl Jjnds brougtlt forward 360,987 2S8.498 619,485 567.620 TOTAL FUNDS CARRIED FORWARD 337 736 228 629 566,365 619485 The notes forn) part of these financial 8tat¢ments P28¢ 4
The Ajhford School Foundatto Balance Sheet 31 August 2022 2022 Total nds 2021 Tor Jnds Unrestricted fimd Restricted Notes FIXED ASSETS Investmciit5 282,973 264,363 547,336 574,26L CURRENT ASSETS Debtot5 C45h in hand S,169 5,169 3SO 61.503 350 61.855 68.906 CREDITORS Amounts fallin8 due within one year 16,7421 136,0841 (42,8261 123.682) NET CURRENT ASSETS 35 734) TOTAL ASSETS LESS CURBENT LIABILITIES 337.736 228.629 566.365 619.485 NET ASSETS 337 736 228 629 566 365 619485 FUNDS UnrE5tri¢ted fundy Restri¢ied funds 10 337.736 228 629 360.987 258 498 TOTAL FUNDS 566 365 619485 The notes fonn part of these financial stai¢ments Page 5
Th¢ A$hford School Foundatio Notes to Ibe FlnAu¢lal St#ttmertlS for the Year Ended 31 AMgu$t 2022 ACCOUNTING POLICIES Bas18 of preparlllg iht finin¢ig1 $tat¢ments The finan¢ial stat¢m¢nts of th¢ ¢hanrAble company. whi¢h 1$ a public benefit eTrtity uttder FRS 102, have beeD prepared in accord8n¢¢ with the Charjties SORP IFRS 1021 'Accounting And RepoL"tuig by Charilies.. Sialement of R¢¢ommended Prncticc applicable to charities PTepariiig their ac¢ount$ il) a¢cordance with the Financial RepDrting Standard 8ppli¢able in the UK and Repllbli¢ of Ireland IFRS 1021 (cffeciive l J#nuary 2019}'. Financial Reporting Standard 102 The Financial Reportitlg Standard applicable in the UK and Republic of Irelaiid.. The fiD&n¢ial siat¢m¢nts hav¢ b¢en prepared under Ihe hisioncal cosi convention. with the exceplion of invoiment$ whi¢h ar¢ io¢lud¢d ai markei value Ineorne All income is reco8nised in the Statement of Financial ActLVltie5 onc¢ th¢ chaTity has entitl¢ment to the fvDd$, it is probabl¢ tha¢ the income will be received ond the amoui)i ¢an bc tneasured reliably. Expethdlimre Liabiliijes are recogtlised as expenthttwe soon as th¢r¢ 18 a le8al or constructive obligation commiltuig th¢ charity to that expenditure, it is probable that a transfer of economic benefiis will b¢ required in selllemeni and th¢ omount of ihe oblL8atLOLJ cEin be rneasured r¢liably. ExpendithJr¢ 1$ accounted for OLI an accTua15 ba515 and has been classified uiider headi118$ ihat a8gTe8Ste all ¢081 related 10 the cai¢sory. Where costs cannot be directly allributed Particular heodings they h2ve been Allocated to aetivities on A basis consistrnt with th¢ of re$ouwes. TixBdon The ¢harity is exempt from ¢oryor81ion tsx on its ¢haTit&ble activities. Unresvi¢t¢d ful$ ¢4n b¢ used in ¢oldIn¢¢ with the charitable objeetivts at Ihe dis¢r¢iion of the Irusi¢es. Restricted ndS clln only be used for pirtielllar restricted purpos¢J within rhe objects of tlie cliarity. R¢siri¢tion9 arise when specified by the donor or wh¢n fvnds ir¢ raised fol PYlrti¢ulaT Testrieted puryoses. Thc Braiby-MHlpas tund 1$ restricted ts) providing burgary ossistonce lo 3bJdenls who altcnd¢d the junior school. The 8ssisied plac¢s fund is r¢slri¢*d to providin8 fsnancial as51StatKe towards s¢hool fees aiid the c8pi¢al projccts fund reflects donations given speciflcally towards d¢velopm¢nt of ¥eliool facilities. INVESTMENT INCOME 2022 2021 Dividends 17 RAISING FUNDS Inveitment m&n&Eem¢nt to¥ts 2022 2021 Portfolio manag¢men¢ Donation colltIon fees 5,005 323 4.833 261 P4e7 continued...
The Ashford School Fownddo Note5 to the Financial St4temeDl¥- to¢iaued for the Yesr Ended 31 Awsi 2022 NET INCOMEI{EXPENDITURE} Nei incotneJ(expeDditswe) 15 stst&l after ¢harwW(uuth"tsng).' 2022 2021 750 750 TRUSTEES, REMUNERATION AND BENEFTTS There were no trustes, r¢mun¢rntion or other baKfits for the year ¢rthJ 31 Au8us¢ 2022 nor for the y¢8r ¢nd¢d 31 August 2021. Trnstees, expen$ There w¢r¢ no trustr¢s' expenses plid for the yetr eTthd 31 AwJst2022 nor for the yr ended 31 August 2021. COMPARATIVES FOR THE sfATEMEi¥T OF FINANCIAL ACTIVITIES UnTestri¢trd R¢stn¢d Totrl fijnds INCOME AND ENDOWM8Kfs FROM Donations and legacics 1.547 11.387 Investment in¢ome Total EXPENDITURE ON Rllisin8 Iljnds 2J16 2.$78 5,094 Chrltsbl¢ •£¢lvlil Bursary to genior $¢iKK>I pupils Grani for capstsl expenditure 1,070 4,452 21,862 6.429 22,932 10,881 Other 250 500 750 Ne¢ invesrtDents NET ll¥COME 17,175 51,865 RECONCILIATION OF FUNDS Totyl fiu¥Js brought forward 326397 241,323 567.620 ctillued...
The Ajhford Sthool Foundatio Iyotes to the Financlal StatemeKt5- tontlnued for Éh¢ Y¢*r Ended 31 August 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued UnT¢Stri¢ted Restticied nd Total nd5 TOTAL FUNDS CARIUED FORWARD 360 987 258 498 619485 FIXED ASSET INVESTMEflTS List inveBtmeDts MARKET VALUE At I September 2021 Adth"lions 495,460 At 31 Au8U$t 2022 515070 PROVISIONS At I September 2021 FvIsiO11 for yCHr 178.801} At 31 August 2022 NET BOOK VALU At 31 Augus12022 547 336 At 31 Au8u$i 2021 S74261 Ther¢ werc no invc51mctLt JS5cts oulside the UK. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YFAR 2022 2021 Other debtors CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 AccDd expenses Page 8 coJJtillued...
The Ashford S¢hool Foundxth Noteg to the Fin#¢S¥l Sttemtmts- eo•tlAued fffvr tht Yt*r Ended 31 August 1022 111. MOV£MEKf IN FUNDS Net movemcnt io fiLt)ds At 31.8.22 Ai 1.9.21 Unreitrkt¢d fi0$ General fid 360.987 {232511 337.736 R¥trleted fun Bratby-Malp•s fiu)d Capital PTojecLs fund 258,498 131,4331 227.065 258.498 228 629 566 53 120) a65 Net mov¢men¢ in Incl ID th¢ alw¢ &5 follows.. lu¢omw8 Re50urees Gains Mov¢meni loss¢s Unretrlcted funth General fund 10.153 (9J45} {24.0591 (23.251) Rutrl¢tsd fvnds Bratby-malpas fund Assisied places fund C?pital proje¢¢s fvnd 8.346 21,357 (17,303) (21.3S7) (22.476) (31.433) TOTAL FUNDS 46 535) 53 1201 Comparltlvu hr thovement14 fMDds movernent in funds At 31.8,21 Ai 1.920 Unreitrieted General fimd 3263 360.987 trlcted fundi Bratby-mjlpas fund Capit81 projects fvnd 236.490 258.498 241 258 498 TOTAL FiDs 567 620 619485 Pa8e 9 colltinued...
The Ashford School Foundtlon Note5 to the Flttatteial Statements- tonttnued for the Year Kfjded 31 Au8llSt 2022 io. MOVEMENT IN FUIYDS- ¢ontlnued Comparative net mov¢tiKL¢ it) fvnd4 iDcludtd in tILe above arc as follows.. tncoming resources Resources expend¢d Gains and losses Movemellt in ful Unreltritted funds General futld 10,459 18,288) 32,519 34,690 RtrICted fllndi Bratby-malpas fund A$$isted places fund Capital pioj¢¢ts fund 8.325 8.075 {16.6961 {8.0751 30,379 22.008 31369) TOTAL FUNDS 39 6571 A cuml year 12 month5 Rnd prior year 12 months combitied position Ès is follows.. Net movemtht in funds At 31.8.22 At 1.9.20 Unrestrltted fundl G¢n¢rdl fvnd 326.297 11,439 337.736 Restrlcttd fundi Br&iby-Malp2s fund Capital projects timd 236.490 19.425} 227,06S 241323 126941 228 629 TOTAL FUNDS 567 620 566 365 A ¢UTrtnt y•Ar 12 m•fiih$ thnd prior y•4r 12 montho combin ttat mov¢m•rt¢ itt lknd. In¢ludod in th¢ qboY¢ 81 follow5., In¢omiu8 resoijTces Resources ¢xpend¢d Gains and 1085CS Movement Ln fijnds Uhrutrl¢t¢d fundi Gclicral fund 20,612 (17,633) 8,460 11.439 RtrIcted fund8 Bratby-M&lp05 fund A5SJ8t¢d places fund Capital projects fund 16,671 29,432 133.999) 129,432} 7.903 19,4251 70 178) 12 6941 TOTAL FUNDS Page 10 corttiuuyL..
The Ashford School Foundatio Notes to the Financlal Statements- contlnued for the Year Ended 31 August 2022 ii. RELATED PARTY DISCLOSURES There w¢re no lated p8rty traDsactsons for the Y etlded 31 August 2022. Pa8e 11
The Ashford Sebool Ffjund8ti0 Detalled Statement of Fthucial Actlvitl for th¢ Yr Ended 31 2022 2022 2021 ENCOME AP4D ENDOWMENTS Donadons a•d legd DonatLOUS 24290 11.387 Investment thtom¢ Dividends 17.237 Tot41 ruo4r¢eg 41,569 28,624 EXPENDITURE RaIni don#tloDI And Jryiel Donatioll collection f¢¢s 323 261 Ittvestment In•n8gemetst eo Portfolio mani8emeut 5.005 4.833 CharltAble scttvltl Grants 42,076 33.813 Support to Gov¢rnn¢t tosts lttdepcndent ¢x2mination 750 750 Total r¢sowce8 exed Net expendlturo befor¢ galNJ Ind I•M (6.5851 {11.0331 Realljed rttognl•¢d Dd lowes Ruli$ed 8ainslllosse5) on fu¢d ass¢t Inves¢ GaInlI0$SeSI on revaluation of inYestmeDts 11.471 Net (exp¢ndltureyineome This 8t dots not forni of s*4bJt(Ky financial statemfflts P•gc 12