Charity Rogistration No. 1168316 THE CUMNOR FOUNDATION TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 THE CUMNOR FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees J Tanner (Chairrrwn) L Banks C Heinrich Charlty number 1168316 Princlpal addrcs5 Road Danehill Ha￿ardS Heath RH17 7HT Independ•nt Examlner TC Qiryjp Th6 Courtyard Shoreham Roa(1 Uppw Bee(fing Steyning West Sussex BN44 3TN Bankers Lloyds Banknng GrfAJP PLC 25 Gresham Street EC2V 7HN THE CUMNOR FOUNDATION CONTENTS Twsteps. r8F*Nt ststemeth of trustees. re5ixJnsft)lities 1rK1epend￿t examinef5 re Statement of finan(ial acliwbes Balance sheet Notes lo the accounts 7-10 THE CUMNOR FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST2021 The Trustees present Ihwr Annual reFrf together with the State￿￿nts for The Cummr Foundatlon for the year to 31 August 2021. The Irust8es confim tw the a¢￿Unts ccffnpty vlilh the char￿eS Act 2011. the twst deed, and A{￿ufiting and Reporting by Charitiès". Stslement of Rec4Jmmended Pr￿tt￿ applicable to charilles preparing their acc¥Jurts in accordance with the Financtal ReportiThJ Stsndard a￿cable in the UK and RepublK of IreLgnd (FRS 1021 (effective 1 January 20151. OUR OBJE VES The fA)jects of the CIO areforlhe publtc benefftto pKonTr)te the eduG8b"on of children by aYrarrliThJ to such persons scholarships. maintenance alluwances wgrarrtS tenable al Cumnor HDuse Schod. Danehill. West Sussex. orin such other ways as the charity Iruslees think r In setting our obiodives, tr￿￿tee$ have given carefiA ¢)Jnsideration lo the Charity Commission's public benefrt guidance. Bursary policy The charity makes funds avaikble for families in finawal need which are granted ¢Jn the mwr15 of each case. Bursary awards are importanl trj provide access to the eJucatK¥n offered to families who would otherwise not be gble lo afford the fees of Cumnor House School. Awards are mean>lested. Lhjring the year the total of awards grant8d was £109,681 Iperiod to 31 Atjgust 2020: £99.7C6). ComTnunity links The Gharity rèaches out to all the schools, orgarnsallons and community for ￿tential foundotion pupils lo benefft from the bursary awards awallable. STRUCTURE GO￿ERNANcE AND MANAGEMENT The Curnnor Foundation is a Charitable IncOrp￿ated (hganlsalTon and tts registered Charity numberis 1168316. The charity is governed by its constitittion whid) was signed on 20th July 2016. The twstees who seNed duriny the per•Jd were: James Tanner {Chairrnan} Wol Kolade {Previous Chairman- resigned 20 Oclober2020) Linda Banks {appginled 22 June 2021) Jamte Bannon {resI￿ed 8 March 20211 Chiislian Heinri Julian Huxlable Irpsigned 20 October 2020) Tracey Robson The trustees have overall responsit￿litY of the ￿Hr￿ement and ￿ntrol of Ihe CIO. Every trustee must be appoint8d foraterm of three years bya resolution passed ata properfy wnvened ffleeting ofthe ¢harityttusleps. In selècting individuals for 4)pointment as tharity trustees. the charty Iwstees musl have regard lo the skills. knowledge and experience needed tr the effe(live administration of the CIO. THE CUMNOR FOUNDATION TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 Risk Management Thetrustees are responsibleforthe overseeing of the risks faced bythe CIO. Risks are ldentff￿d and assessed. The principal concems for the CIO are: Funding. The trustees are aware of the need to continualty raise fuThJs to sustain the CIO and its financial support lo the Foundation pupils. Surtable Candidates. Athorough process isiknieto ensurethal surtable canllidales arechosen. Wèware of pupKls. The eoncems for the Foundation pupil's welfare and selding in to Cumnor House School ttsJether with their family are addressed through a mentoring System by one of the tnjsteès ol the CIO OUR FINANCES Financial Review The financial statements show net incoming resources for the year of £208.99312020.' nel outgoing ￿sOUrceS for the year of £8.9931. The principal Sour￿ of income is from donations from trustees and others and donalions and deposits of Y8 leavers from Cumnor House Schcd. Reserves Policy The trustees r8gulady remew the finan¢e$. budgets and SFend againstbudgetas part oftheeffeciive stewardship of the CIO. The trustees consider that, in the event of a drop in slKJrt term funding, they will be able to continue the CIO'S activities while considerats'on is given to ways in which addth'onal funds may be raised. In order to ensure this Is the Case. the truslÈès have set a reserves policy whereby the charity should loc& to hold free rèsèrvès of at lèast one teim's fees for all pupilswhich r( is dueto supwvt in thefollowing academic year lie £29.457 at the 31 August 20211. F￿e reserves totalled £375.3￿ {2020.' £174.3351 at the balance sheet date. The Trustees therefore consider the Foundatitsn lo be ading wrthin the sel reserves policy. This report was approved by the trustees at the Board meeting as dated below. On beh8ff of thè board of Trustees James Tanner IChairnHn} Trustee THE CUMNOR FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES The truslaes. are rèsponsible for preparirvJ the Trustees. Report and ihe accounts in accordan￿ with applicable law and Unlted Kingdom Ac￿U￿ting Standards (United ￿ng(b)M Generally Accepted Acwjnting Praclicel. including FRS102, the finanaal repOrt￿g standard applicable in thè UK and Republic of Ireland. Charity law requires the trustees lo prepare acxounts each financlal yeaT which give a true and falr Mew of the slate of affairs ot the charity and of the incoming resources and WK8tk)n of ￿$0￿ree$. induding Ihe inc4Jme and expenditure, of the charity for that year. In prep8rlng these ao>)unts. the trustees are requlred to= select ￿JItable #C￿Un￿n9 PJ1￿)eS and apply them wnsi5tenty. obserye the meth(yJs aNI principles in Ihe charit￿s SORP" make judgemen15 and estimates thatare reasonable and pKudent. and prepare the accounts on the going con¢*m basis untes5 il is inappropTiate lo presu￿￿ that the charity will continue in operation. The Irustees are re5PDDsible for keeF4ng adequate a￿jn￿rMj r￿rdS th* rfisdosewith reasonable 8￿r3¢Y at any time the financial position of the charity and enable them to ensure that the ac£ounts comply with the Charities Act 2011. They are also responsible for safeguarrfing the assèts of thè charity and hencè fortsking reasonable steps for the prevention and deleGtlon of fraud and other iTregulartbes. THE CUMNOR FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THETRUSTEES OF THE CUMNOR FOUNDATION Independenl examlnef8 reiKlrtto the trust￿ of Tho Cwnnor Foundatlon I report to the tntst88s on my exanwnalion of the a(tounts of Tre Cumnor Foundation for the year ended 31 August 2021. Responslbllltles and basis of report As the charity trustees you a￿ responsilje for the preparation of the accounts in accordance with the requirernents of the Charities Act 2011 Acr). I report in respect of my examination ofthe Charit￿3 acwunts caffled oui undar seclion 145 of the 2011 Act and in ￿rryIng my examination I have followed all the applicable Directions giv8n by thè Charity Commission under section 145(5llb) of Ihe Act. Indèpèndént èxaminèrfs ststement Since the charl￿$ gfQSS inLxJme ex￿eded £250.C(Kl your examiner must be a member of a relevant body. I confim that l am quaIrf￿d to undertake the examinat￿ because l am a memb&r of Association of Chartered Cert[r￿d A￿OUntants. I have coryleted my examination. I confirm that rv) material matters have ry)mg to my attenlion in connection with the examination giwng t2use to believe Ihat in any matwial res￿ accounting records were not kept in ￿4)ect of the tharity as required by section 130 ofthe Art.. or the a¢￿UnIS do not ¥￿T￿ with those rwds. the accounts do not comply wlh the applicatAe requiremen15 (x)n￿ming the fomi an(f content of acctsunts set OLrt in the Charities (Accounts and Rep￿ts) Regulations 2008 other than any requiremeni that the accounts give a Inje and fair view which is not a malter considered a$ part of an irKbependent examination. I have no con¢ems and have come across no other matters in connection with the examination towhich attention sh￿Id be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Cummins FCCA FCIE On ￿h8]f af TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN 3011112021 THE CUMNOR FOUNDATION STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 AUGUST2021 Totrl Year ended 31 August 2021 Total Year eThJed 31 August 2020 Year endèd 31 August 2021 Year ended 31 August 2021 In¢ome from: Donations 311.071 9.000 32D,07I 93,735 Total income 311.071 9.000 320,071 93,735 Ex endI￿r8 on: Charitabl& activities 110,010 1.068 111,078 102,728 Total eXpendI￿re 11fj,010 1,068 111,078 102.728 Net Income I IOutgolng$ 201,IJ61 7.932 208893 (8.993) Fund b￿an￿ al 31 Augusl 2020 174J35 174A35 183.328 Fund balan¢K at 31 August 2021 375J96 7.932 383,328 174,335 None of the charitys activities were dSscontinued in the year. All inome and expen(fitur8 in 2020 was unrestrtcted. THE CUMNOR FOUNDATION BALANCE SHEET AS AT31 AUGUST2021 2021 2020 Notes Currentassets Cash at bank and in hand Debtors 304.951 79A57 141.510 33,9)5 11 384.408 175.416 CftditOTS: att￿nts falling du¢ within year 12 11.0801 {1.080) Netcurrent assets 383.328 174,335 Total assets less current liabilitigs 383.328 174,33S Totsl funds: 14 Unrestricte(I funds Restricted funds 375.396 7.932 174.335 13 Total fvnds 383.328 174,335 8Lxounl 16L..Nb/.uknt 20QI were approved by the Board on.. ... ... Ja es Tanger Ichairmanl Trustse cli number 1168316 THE CUMNOR FOUNDATION NOTES TO THE ACCOUKts FOR ThIE YEAR ENDED 31 AUGUST2021 Legal slatus The Cumnor Foundation is a Charitable Inco@c￿￿ed Organisation regi8lered in England and Wales. The chall￿S registered number and prinLipal address be found on the legal and adminislr*ion page. Accounting policios 11 Basis of preparation The acoounls have been prepared in aexthance WTih Accuunting and Reportlng by Charities.. Staternent of Recommended PrdGtice applI￿bEe to charities preparing thE￿a¢￿{￿Jnts in accordance with the Financial ReportirwJ Standard applicable in the UK and Reput￿1¢ of I￿[arKI {FRS 102) (effective 1 January 20151- {Charities SORP (FRS 102}). The Cumnor Foundation meets Ihe definItr￿ of a put￿[C ￿nefft entity under FRS 102. Assets and Irabilities are initTally recognised at htslorica cost or transaction value unless oth8rwise ststed in the ielevant accounting policy nole(s}. There ￿ N) materiat uncertainties about Th8 Cumnor Foundation's ability to continue as a going conv￿. This condusK)n takes into a(￿￿￿1 the financaal effect pf the COVID-19 pandemic. The finan￿* statements are Pfepared in sterling. whth ￿ the functtonal ￿rrenCY of the ch81ity. Monetary amounts in these financial statemenls are rounded lo the nearest pound 22 Cash Flow Statement In accordance wrfh Seclion 7 of FRS 102 the tharity ￿ daming exemplÈon from Ihe requSrement to prepare a cash tl¢yw StateM￿t on account of its size. 2.3 Income Income repr&sents dcmations In(y)me whith is indtbjed in ts Statement of Financial Activitles when the charity is entitled to thè incomè. when the incon* can be measured ieliabty and when it bocomés probable that the intA)me wll be received. 14 Expenditure Expendrture Is included in the slatw￿ of Finan(xal Admlies on 8n a¢crn￿ls basi8, with irrecoverable Value Added Tax included wtih the iteffl of expenthlure lo whK* it relates. Grants payable are charged in the academic year that they rEfeT to. GovemaneE costs comprise the costs of nmning Ihe tharty. incluthng indeperKlent examination and cwntancy fees and any W ad￿e I(￿ the Injstees. 2.5 Ac¢umulated funds Unrestri¢ted funds are funds whith can be u5&J in aC£Orda￿ WTth the thritabje obieels al the disc¢tlon olthe charity. 2.6 Cash at bank and in hand Cash at bank and in hand incjudes cash and highty liquid short term investments. The trustees seek to use short and medium tenn deposrts where twible lo maximisethe rettrn on monTes hehd 81 the bank and lo managg (ash flow. 2.7 Cftditors & provlsions Crediiors and provisions are re¢ognised where the charity has a present obligatKn resuhing frcHn a past event Ihal will probably reyjlt in the transfer of lunds lo a third paty the 8niount due to setbe the obligation can be measured or estimated reliabty. THE CUMNOR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Aceountlng pollcles {coAtinuodl Critical accounting ostimatrs and jwdgtmonts In the application of the charity's ae£¥trunting polKiès. thè Irusteès are rèquiréd trj makè judgemènts, estimates and asyjmptions 8boul the carrwng amount of assèts and liabililiès that are not readily apparent from other soure8s. The gstimatès and associated aSsuMpt￿nS are based Dn historical experience and other fa¢iors that are con$•kned to be retevant. Actua results may differ from these estirnates. The estimates and uTrJertying assumpbons are revbewed on an ongoww basis. Revisions to accountiThJ estimates are recognised in the period in wtiich Ihe estimate is reM5ed. The twuslees do not ¢￿sid￿ that there a￿ any critical estimates or areas of judgement that need to be brought to the aliention of the readers of the financial ststerwts. Donatlons Ineome Yèar ènded 31 August 2021 Year ended 31 August 2020 Lbnations of deposits Other t￿natIonS 6.500 313.571 18,146 75,589 320.071 93,735 Expendituwe Grant Y•ar ended fundlng 31 August 2021 Yèar ènded 31 August 2020 Charitable activities student su Grant funding of activities Support costs (note 51 109.681 1.397 109.681 1.397 99,706 3,022 111.078 111.078 102.728 Support costs Year endèd 31 August 2021 Yèar èndad 31 August 2020 Administration costs Marketing Govemance costs (note 6) Other 38 1.020 327 1,020 1J97 3.022 THE CUMNOR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Govemanc• costs Y•ar•nd•d 21 August 2021 Year &nd6d 31 August 2020 Independent examination fees 1M20 1,020 1,020 1.020 Grants pay*ble Yearended 31 August 2021 Ygar ended 31 August 2020 Grants lo indmduals 109.681 99.706 109,681 99.706 Grants lo Individuals includes funthng PfOVKled to c4wer the cosis of thId￿n.$ attendance at curn￿r House S¢hc¥J12020.. five}. Tru$tg9s and relaled party transactions None of the trustees (or any persons ¢Jxnected Ihem) rE￿1Ved any rernuneralion or expense reimbursBments fmm the d)arity during Ihe year (2￿20-. £nil). There were no disdosable related party tsar￿¢11￿5 during the year. Employe¢s There were no employees durirvJ the year. The entity is managed by the ch8ritls trustees. 10 Taxation Thè cumnorF￿ndat10n i% a registered chanty (chanty numbor 11683161. Atl activitiesare undertaken lo fulfil the wimary objec*v8s of the chartty and are therefore exempt from direct taxation. 11 Debtors 2021 2020 Grants in advance A￿Ued income 29.457 50.000 33,9 79.457 33,905 THE CUMNOR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 12 CreditOTS 2021 2D20 Accnjals 1.08Q 1.080 13 Restrlet8d funds The income funds of the charity indude designate4J luThJs c(ynprisirnJ ￿ follovmJ: Mov•mènt kn fund$ Incomè Expendi￿re Balance at I Sept 2020 Balancè at 31 Aug 2021 Eddie Jamian Music Fund 1.068 7.932 7.932 9.000 {1,0681 The Eddle Jarman Music Fund is lo be l￿ed to prThnote ffft music knons and instrument hire to slate Schools in Ihe Iccaltty of Curnnor House s&￿￿1 to famllies unable to afford music lessons or inslrufflent hir8 for theirthildren. 14 Analy81$ of net assets b¢trfftn fund5 Unr•strietèd funds Restricted funds 2021 Total Fund baances * 31 August 2021 are representsd by. Current assets Creditors: amounts falling due within one year 376N76 1.080 375,396 7.932 384A08 1.080 383.328 7,932 All funds held at 31 Au￿st 21Y20 were unrestrTT#ed. 15 Control The charity is under the crntrol ofthe Irustees.