REGISTERED CHARITY NUMBER:1165474 Report ofth• Thte¢S And UTh¥udlt¢d FlnDcknI Sttemetsts for tht Y¢¥r End¢0 31 Augu$t 2024 for Tbt Ajhford School FoundgtAo
The Ashford School Found*tio Contents of the Flnanclal Statements for the Year Ended 31 August 2024 Pagt Report of th¢ Truste Independent Eumin¢r's Rew)rt Statement of Fin#llcial Activltks Balance Sheet Notes to the FifjaDclal StAtemeDts 6 to 10 D¢tailed StstemeDt of Fin¥Thci81 ActiYÈdes
The Ashford S¢hool Fouttdati Report of the Trnstees for the YeAr Ended 31 A$t 2024 The trustees who are also dire¢tors of the clwrity f¢ff the pu4x)ses of the Companies Act 2006, present their Teport with the f]n8n¢ial statements of the charity for the year ended 31 August 2024. The trustees twve adopt¢d the provisions of Accouniing and Reporting by Charities." Statement of Recommended Praeti¢e app(able to charities PT¢paring their ?¢counts in accordan¢¢ witb the Financial R¢portin8 Sthndard applicable tn the UK and Republic of Ireland IFRS 102) (effective l J4nuary 2019). OWECTIVES AND A1VITIEs The Foundation aWded bursaries to 13 pupils in the 2023r24 o¢•J¢mi¢ year. The Foundation COTrtribut¢5 between I and 55Y• of the a1U3] fees for attending the senior school. FINANCIAL REVIEW Fin8n¢lal Revlew Totsl incorning resoitrtts amounted to £2A801 with total jtgOE8 res¢)iirces amoiuitin8 to £70.623. Invejtment powen The Ttus¢es have wide investment power¥ subject to their obtsining advice fr(xD * fancial expert. The Tnjstees mly del¢gate the management of investsnents to a fin8ncial expe¢ subJecL inter ali4 to the Tru5tee5 5ettiDg down theEr investh)¢nt poli¢y ID Writin8 to th¢ inveslln¢ni monage Re$¢TV¢S policy The Tnee3 hav¢ adopted a policy of retaining sufficieni cash kn cover burs8ry fees awarded for one y¢ar plus £l.000 to cover other annual exp¢n5¢5. The School provides all the r*¢essary infrastrucftC and personnel io run the FoLEDdation OffEC¢ and pay for ndraising costs. (Jher than gTants awarded the only ou015 of the charity ar¢ those illcujred in the prepataiion 8nd examination of this annual rewt and ID th¢ proce5sin8 of YMents rec¢1V by direct debit. STRUCTURE. GOVERNANCE AND MANAGEME Governtng document The charity 13 controlled by its 8ov¢min8 thum¢n( a deed of x and CLMStitity a limited compgny, limited by guaranice, as deflljrd by the Componies Ac¢ 2Crt)6. Constltutlon &Dd ¢horltsble objeets The chBrity is a Charitable IncorpoTrt•a Organisation governed pursuaTht to a ConstiDJtion dated 8 F¢bruhry 2016. Its obje¢ts are.. To advance edueaiion 4¢ Athford Sthool (the"S¢hfy)lry forthepublie benefitby providu4 fundin& siStanCe and suppon its su¢h 4 rnanner as the charity tDJstr¢s sh411 deknine 1ft¢hlng {wrthout limitstion) the provision of.. (a) Funding to the School towards the upkeep and development of its fa¢iliti¢s, Ib) Financial assistance to pupils ¥ the S¢hool towards the c(rft of their sthool fees and 8enernl expenses in¢urred while at the School. Organ4th0#E and detbh)n w•king The charity h&% & board of inlee3 with a minimum of three trustees a[ a rn&xrmuTn of tw¢lv¢ lrnstee5. Th¢ Director of Development of Ashford Sch(KJl and the He4d teacher of Ashford Sch(] are ex•officio ttwtees. Each of the A5hford Sehool Association 8nd the AShf School Parent Teacher Asso¢iation •n'8ppornting body") may appoint a sin8le trustee. To dat¢ neither body hes ¢ho8¢n to no1n4t¢ a tnts. Public Benefit The trustees cortfinn that thry have complied with the duty set out in section 4 of the Charities Act 2006 to have due re8Brd to 8uidance published by the Charity Cothmissio4 includin8 public Ixnefit guidan¢¢. when Tevi¢wing th¢ ¢h8yiti¢s aims and objectives and in plawtin8 fvtur¢ activili¢3. Related p4rt1¢s The tharity has Do related porti#. but exists to advance ¢IOn at the S¢hool for the pthli¢ benefiL P38e I
The Ashford Seb1 Ftsund#ti Report of the Trnste¢s for the Year Ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS R¢gister¢d Cbarity 1165474 R¢gl$ter¢d offl¢t The Foundation Office Ashford School East Hill Ashford Kent rN24 8PB Tru$¢ee3 Lara Jukes (Chairnian) Rory Montgom¢rie K#therin¢ Floyd Michael Hall Mi¢h¢ll¢ Antt Kraw¢zyk Nicola Ann Ratchford Nicola BTightliThg- re$igne4114 February 2025 IndependeDt ExAmln*r S&Tah Adamson FCA cfA Digges Barn Out Eimstead Lane Barham Canterbury Kent CT4 6PH Soll¢ltor5 Stone KiDg 13 Queen Square BAI 2HJ Investment Mana%erJ Brook5 Ma¢donAld 72 Welbeck Street Ltsnd¢)n WIOOAY AppToved by order of the bofird of truste on 13 June 2025 $i8ned ((L its behdf by.. IAra Jukes. Tnutee
Independent Examiner's Report to the Trllsttes of The Ashford Sthool Foundatio llldependent examiller's report to the trllstees of Tbe A5hford School Foundatlon Cth¢ Company,) I report to the charity twiees on my examinktion of the accounts of the Company for the year ended 3 1 August 2024. Responsibilities and IMSIS of rert As the cbaritys tru5te¢5 of the Compally (and a]so its directo[5 for the purwJ5¢5 of company law) you are responsible foT th¢ preparation of the accourts in with the rwuiJements of the CompBnÉes Act 21)06 (tthe 21)06 Arf). Having satisfied myself that th¢ a)Ullts of the Comwy are not required to be auditsd under Part 16 of the 2006 Act and are eligible for independent examiiiation. I rep(xt resped of my ¢xamtnation of your charity's accounts &% Carried out under S¢dion 145 of the Ch8rities Act 201 I (Ihe 2011 Arf)- In wtttg out my examin&ion I have followed the Directiolls given by the CJJaTity Com]nission under kntion 145(5) (b) of the 2011 ACL llldependent eMIner'S ststement I h4ve ¢omplet¢d my exami110n. l ¢OTffirm that llomattershavecome lomy attention ineonnection withth¢examination gÈving Tne cause to belieye.. a¢Uting records were not kept in r&wt of the Company as wuired ty Seaion 386 of the 2006 Ae4 or the accounts do not accord with those records" or the accounts do noi cojnpty with the 2c£ountiDg requirements of Sectioo 396 of the 216 Act other thaD aEy requirement that the attounts give a ttw and fair view whith is not a matter e¢)nsidered as part of an independent examination" or the accounts have not been weparcd in accord wKth the Enethods and ptiticiples of the Ststement of R¢¢ornmended Practice for accounts.ng aDd reportmg by charities (applicable to charities pT¢parin8 their accounts in accoidance with the Financisl Retvting Standard applicabk ID the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters itt connection with the exarninanon to which attention should be drawn in this report itL order to enable a proper understhuding of the ac¢oullts be rexhe Sarah Adam50D FCACTA Digges Bam Out E]mstead Lane Barham Canterbury Kent CT4 6PH
The Ashcord School FOdtIOn ststeemt of Fknaneial Activities for the Year Ended 31 Allgust 2024 2024 2023 Totsl UDr¢strieted li¢strirteAI fiJDd nds fijnds Notes INCOME AND ENDOWMENTS FROM DonatiODS and IEacies 4.655 6J60 [1,015 16,701 Inve8tmeErt income Tot81 26.802 EXPENDITURE or4 Rai%itig fimd 2J50 4,814 5,014 Charltable #etlvltles Bursary lo senior 5¢hool pupi]5 Grant for Capi expenditure 42,816 s,8 13.168 55,984 72,334 Other 325 500 825 Total 51 19224 N¢t galo(10es) on investhients 20.105 NET INCOl¥fFJ(EXPENDITURE) (17.(2) 14,866 (2,196) (59.304) RECONCILIATION OF FUNDS Total fiwds brought forward 305.541 201.520 507.C61 566.365 TOTAL FUNDS CARRIED FORWARD 288.479 216.386 504.865 507 061 The note5 forni w of these fJDan¢ial stgtejnents Page 4
The Ashford School Fouttdation B8laDct Sheet 31 August 2024 2024 Tgtsl Ojnds 2023 Total fjjnds fimd fidS Notes FIXED A&SETS tnvesttnents 255,304 238.514 493.818 476281 CURRENT ASSETS C4sh haTrd 33,5(K¢ (21.628) 11,8r2 31,605 CREDITORS Amounts falling within one year (325) (5(M)) (825) (825) NET CURRENT ASSETS .128 TOTAL A&SETS LESS CURRENT LIABILrriLs 28&479 216J86 504.865 507.061 NET A&SETS 288.479 216 386 FUNDS Unrestricted fun¢l% Restricted fvnds 288,479 216386 305.541 201520 TOTAL FUNDS 507.061 Th¢ ni)tes forrn part of th¢5e fiDancial
The Ashford School FondItIO Not¢S to tbe alleal Ststements for the Year Eknded 31 August 21n4 ccour4TU4G POLICIF Basig of preparing the fin•ncial ststements The financial 5tate5Tr£nts of th¢ charitable Company. which is a public benefit entity under FRS 101 have been prepared in accordanc¢ with the Charrtie5 so IFRS 102) 'Ac¢ounting alld Rew)rtints by Charities.. Statement of Recommended Practice applicable to chartties preparing their accounts in aceord4nce with the FitAncial iieportin8 Stattdard applicable in the UKand Republic of Ireland (FRS 102) {effectiv¢ l Janw 2019),. Financial Reporting StsTrdard 102 The Financial Reportin. StsndaTd appli¢able ill th¢ UK and Republic of IEelalld' and the Companies Aci 2006. The fjnancial Sthtemts bave Een prepared under the historical cost WTLventioT4 with the exception of investtnents which are Includ &t matket value. Ineome All income is regnised in the Statemeni of Finan¢wl ActivNie5 once the charity has ettritleTllerLt to the funds, it is probable that the income will be TeCeIv and the amount ¢aD be rtlthly. Expenditure Liabilities are re¢ogni5ed as exp¢nditiJre as $¢X as there is a legal or coDslructive oblig4tion committkng th¢ charitv to that eXnditUTe, Ét is probable that a tr8n5frr of economic IKllefits wi15 b¢ Tequired in settlement and the amount of the obligation can be ttleasurryl reliably. ExdItR is awountrd for on an Hccruals b&sis and tws been classifitd under headinJ tha$ 8ggregate all Cost relat&l to the category. Where costs cannot be dire¢tly attributed io parti¢ulaT headw they have been allocatsj to activities on a basi5 ctsngistmt with the use of resour¢es. Grants offered subJKt to conditions which have n( been met at tb¢ ye8r date are notrd as 4 ¢4)mmitmellt but not awued as expeodiDJre. TAx8tloll The charity is ¢xempt from COEpor*iott tax its ¢harit8bk activities. Futtd g¢counting Unrestricted fijnds wi be used iti a¢cDrdance with tr chaTithbl¢ obj#tives &th¢ di5¢r¢tion of th¢ trustees. Restricted fimds can on]y be us¢d forpartiCurr[Idcd purpos within the obje¢ts of the clwity. Re5tri¢tions arts¢ spxified by th¢ donor Ir wben fiwd% are taised for parnar]rStrlCttd puTtM)ses. The Bratby-malpas fid is Rstricted io providing bursary assi5tan¢e to stydents wbo attended the junior s¢hool. The &ssisted places fund i5 restricted to providing fmancial &%ssstsnce towards school ftes and the capital projects fijnd reflects donations given specffically towards development of Sch11 facilities. INVESTMEpfr INCOME 2024 2023 Divideryds 15,787 continued..
Tbe Ashford Sehool FONd*¢I Notu to the FiDaThcial St#temeDts- eoJtinued for the Year EDde4131 Augu3t 2024 RAISING FUNDS Investmekt MagetheI tosts 2024 2023 Portfolio managemenl NET INCOMEI{EXPENDITURE) Net incornel{¢xpenditiwe) i5 Statsl after chutiitipJ{ctedtting)'. 2024 2023 Oth¢r a5SUTanc¢ servic¢s 825 900 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remulleratiort or other benefits fv the year ellded 31 August 2024 nor for the year ended 31 August 2023. There wereno trustees, expen3 ld fortheye8relld 31 August 2ff24 nor forthe yearellded 31 August 2023. COMPARATIVES FOR THE STATEMENf OF FINANCIAL AcfivITIES Uorestricted Restricted fimd fjJnd$ Total funds INCOME AND ENDOWMENfs FROM Donations aod legacies 5.325 11.376 16.701 Inveshn¢nt in¢om¢ 9.618 To¢AI EXPENDITURE O B2ising funds 2.487 1527 5,014 Ch8ritsble adiviti&% Bursary ttTr Senior th(x)I pupi]s 35,793 36,541 72.334 SW Totsl 38.680 Net gainsl(105s¢s) on investtnents 8.458 16.361 NET INCOMEI(EXPENDrruRE) (31195) (27.109) 159J04) RECONCILIATION OF FUNDS Total fvt)¢ts brought forward 337.736 228,629 566.365 P4ge 7
The Asbford S¢trI1 Follttdatlon Tr10ts5 to the Fiaaneial Ststements- tonttDued for the Year Ended 31 A¥$t 21124 COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES- eontittlled UTrTestri¢ted Restricted fund fi5nd5 Totsl fi]nds TOTAL FUNDS CARRtED FORWARD 303.541 201520 507061 FIXED ASSET INVEsfMENr6 Li*ed inyesttnents MARKET VALUE At I September 2023 Additions Disposals 472.544 84,111 92 837) At 31 August 2024 463.818 PROVISIONS At I September 2023 Provision for year (3.737) 26 263) At 31 August 2024 NET BK VALUE At 3 1 August 2024 493818 At 31 Auguu 2023 476281 There w¢r¢ no inv¢stsnettt &4ets outside the UK. CREDITORS: AMOU14TS FALLING DUE THIN ONE YEAR 2024 2023 825 825 MOVEMENT IN FUNDS Net movem¢nt in funds At 318.24 At 1.9.23 UTrrestri¢te41 fundy General fuT¥J 305.541 (17.{2) 288,479 Restrlcted lundj Bratby-Maip&8 fund Capital projects fund 199,107 17279 2.413 216.386 201.520 14.866 216386 TOTAL FUNDS 507.061 504.865
The Ashford Sch(1 Foundatio4 Notes to tbe FiDanclal St#tem¢nts- (or the Year Ettded 31 Augu$t 2024 MOVEMENT IN FUNDS. eotstiaued Net movement in fu iDcluded in the th)v¢ are as follows". Incorning Resources Gaitis and Movement r¢soutces expended losses in funds Unrestricted funds General fund 12.817 (51,399) 21,520 (17.062) Restrieted funds Bratby-malpas fijnd Assisted place5 fund Capital projects fund 7.625 5,510 850 (10.451) (5.510) 20,105 17,279 TOTAL FUNDS 70.623) 41,625 Comparatives for movement in funds Net movement in fi]nds At 318.23 At 1.9.22 Utsrestrieted funds General 337,736 132,195) 305,541 R¢stri¢t¢d funds Bratby-Malpa5 fimd Capital projects fhmd 227,065 1.564 (27,958) 849 199,107 2,413 228.629 27.109 201.520 TOTAL FUNDS 566J65 59,304) 507,061 Comparative net movem¢nt in fid4 included in the above are as follows: IncornitEg RU[C¢S Gains and losses Movetnent in lld$ Unrestricted funds General fund 14.943 (38.680) (8,458) (32,195) Restrlcted fuDds Bratby-Malpa5 fund Assisted places nd Capital projects fimd 8,986 9.938 1,438 (29,(Kl) (9,938) (7,903) {27,9581 849 20 7.903 TOTAL FUNDS 35 78 16 361) contlljued...
The Ashford School FondAtiO Notes to the Fingnci41 Statements- e&ntlMued for the Year Ended 31 A4gust 21J24 MOVEMENf IN FUNDS. A cutrent year 12 rnthS and Fffioryear 12 months combined position 15 ¥ follow5". Net movement At 31.824 At 1.922 Unrestricted lunds Genetal fi]nd 337.736 (49257) 288,479 Restrietd fvTrds Brdtby-malpas fvnd Capital proiects fund 237.(5 1,564 (10,679) 216.386 43 216.386 TOTAL Fuf4DS 566.365 61.51KI) 504.865 A cutrent year 12 montbs and priYear 12 mth]th3 ¢ornbJTI net movemetrt in fjjnds, Iluded in the abov¢ ar¢ as follows.. Incomin¥ Gains and lo&ses Movemenl in fiu)ds ¢xF¢nded Unrestrleted General fund 27.7fA) (1.079} 13,062 {49.257) Restricted funds Bratby-Malpa5 fund As5i5ted plac fund Capital projects fund 16,611 15,448 (39.492) (15,448) 12202 (10.679) TOTAL FUNDS (148 871) RELATED PARTY DISCLOSURLS There wer¢ no related party transactions forthe Ye etrjed 31 AugLlSt 2024. Pa8e 10
The Ashford Sehool F•undatioD Detailed Statement of Finan¢ial A¢tiviti¢5 for the Year Ended 31 Au8llSt 2024 2024 2023 INCOME AND ENDOWMENIS Dollations and l¢gacies DonatiODS 11,015 16,701 Investment income Divid¢nds 15.787 Total iDcomiBg Te50urces 26.802 35.305 EXPENDITURE Ral$iDg donattolls and legaeies Donation collection ft& 554 552 Investment mallag¢meDt costs Portfolio man4(pement 4260 4.462 Ch8ritsble activiti¢5 Grants io institutions Grants to individuals 422 64.984 72.334 Support costs Govern¥nce tosts Audiwrs. r¢mun¢rnlion for non audit work 825 9QO Total resowces expended Net expeDditure before galbs #nd losses {43.821) {42.943) Refili5¢d recognised gains and losses Realised gau?sl(losses) on f]xed 25set investments Gainslllosses) on revaluation of investroents 15.362 12,168 28 529) Net expenditure This p•g¢ <k)es Dot forni pan of the statutory fiDancial stst¢metLts Po8¢ 11