Charity registration number 1169268 Company registration llumber 08687374 (England and Wales) THE CHARITABLE FOUNDATION FOR EDUCATION DEVELOPMENT ANNUAL REPORT AND ULYAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT LEGALAND ADMINISTRATIVE INFORMATIOIY Trustee5 M Faraday PAWall Charlty number 1169268 Company number 08687374 ReE15tered office CIO Mat Faraday The Long Barn Cobham Park Road Cobham Surrey United King'di)m KTII 3NE Indcpendent examiner David Howard I Park Road Hunipton WiLk Kingyilon Upon Thamcs KTI 4AS
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT CONTENTS Page Trustec report IndL'pcndeni examinevs report Statement of financial activities Balance sheet Notcs to the tinancial statcmcntS 6- 10
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT
TRUSTEE REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 3] AUGUST 2022
The Trustees present their annual report and financial statements for the year ended 31 August 2022.
The finanLidl %latements have beeii prepared in dLLorddnLe with the aCLounting pi)IiLies set out in note I to
the fin#nLial %la¢einenl4 and L(Trmply willi the Charity'% Memi)rdndum c)f A%%uLialiC)n, the Cvmpanie% ALt
211116 and 'ALLoiinlin¥ and RLpc)rling by Ch
THE CHARITABLE OUNDAI-IOIY TrOR LDuCATIo DLVELOPMEYT TRLISTEE REPORT {INCLUDENG DIRECtI)RS' REPC)RT) (CONTIIYUED) FOR THE YEAR Etl'D£D 31 AUGUST 2022 TN%lee% are appointed by ordiiiary resolution ot the members. Nc)ne ol-lhe Trubiee4 has any henefiLiJl inierest in the compaiiy. All ot the TNsiee4 are meiiibers of Ihe compuny und guur<iniec to LoniribLilc £. l in th¢ evLni old w'inding up. Ncw TnJslLe% are inlonned ol. Iheir obli¥aiions undLr company and Lharily law and are encourabTed lo read 'The esscntial trustee- whai yoii need io know ICL31" iisued by the C'harity C'ommi.%sion. St4¢emen¢ of'frustee reiiponslbllliles Tlie Tru%lee%, who are M150 the direciors of The Chariiiible Foundaiion For Educuiion Developmeni for the purw)%L of Lumpiny Idw. arL rLspi)n4iblc for prL'parin¥ IhL Tru%lLL RLpiin und IhL IiniinLidl ¥iaiLmLnls in dcci)rilancL Iirjih appliLdhlL law #nd United Kin&duiii ALci)uniinb %iandaril% ILlI)iied Kinbidc)i)i GenLrally ALcLpicd ALLouniing PraciiLel. LL7mpany Law. requires the Trustees io prepure finuncithl 5taiemenis fur eaLh finunLial year which give a truL and lair Viiw, of iliL siaiL of allair% ol- Ihc C'hiiriiy and of ili¥ inci)Ining rL'SC)(Ii'ccs and appliLaiion of resources. including ihe income and eXndi(Ure. ol'ihe charitable compuny for thai year. In preparing ihetse Iii)ancial slaiemenLS. Ihe Trustee.8 are required io.. .lect suitable accounting policies and ihen apply ihem consislcnily: observe ihe meih()d% and principles iii ihL' Chariiies.SORP: makL' judgemL¢S And L%iimuiLs Ihul arL' rL'asonablL und prudLnl,' lalL whlihir cipp1iLiiblL. UK ALLoun¢in¥ StcindiirilN havL' lollowLbd. subjLx't to any Inaicrial diydriurL'S di.sclosed 411)d explllined in IhL' liiiilncial %iaiLIIILll15,' and prL'pafL' Ihc finuniial %liiiLniLni.¥ on Ihc bjoing concern ba.%is unle$5 il 1% inuppr()priotc lo prLsLime ihal Ihe Charity will Lonlinuc in opcralion. Tl)e Tru%lce4 arc resptsngiblc for kceping adcqiiale occouniing rccords ihal disclo4c M'iih reasonable aLLiifilLy al any limL IhL' finilTILial pu4iliun u1- IhL L'hariiy diid Lnabl¥ IIIL'M Iu Lnbur¥ Ihdi ihL finai)LiJl iaiLnicnl.s Lomply w'ith Ihc Ciiiiipiinic% Acl ?tK)6. They ore alw re%i)()n%iblL Inr sbli¥uardiii&p the N4.4CL4 of Ihe Lharily und hL'nLe for takin¥ rcasonablL' 5tcp& for the prcvLnlion dnd deleLiion uf frdud dnd othvr irregulArillCS. Tlic Truslcc rcpon wa5 approved by Ihc ljoaid ofTrustC¢S. M Frd*y DJl¢d: 2510512023
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITABLE FOUNDATION FOR EDUCATION DEVELOPMENT report to the Tn]stces on my examination of the financial statements of The Charitable Foundation For Education Developillent (the Charity) for the year ended 31 August 2022. which are sct out on pages 04 to l O. Responsibilities and basis of report As thL TrustLLS Lil. thL Clidrity Idnd also its directors for the purposes of company lawl you are responsible for thL' prLpdration of thc financial sldtLmcnts in aLcordaiicL' with thL rcquirLmLnts of the Coinpanics ALt 2006 {the 2006 Act}. Having satisfied mysell. that thc tinancial ststemcnts ol. the Charity arc not rcquircd tu bc dudited under Part 16 01. thc 2006 ALt and are cligFiblc tor indcpcndent cxamination. I rcport in rcsPCLt ot Iny cxamination ol. the C"harity's financial statcinciit% Cdrriecl out under section 145 ot the Q'hdrities Act 2011 Itlic 2011 Act). In carryingF Out Iny exaillination I hdve followed all the applicable Directions gjiven by tlie Cl)arity Coinmission under %ection 14.%151{bl of the 201 l Act. Independent examiner's statement I havL LuinpIL%tLd Illy L'xaminaliDI). I conlimi that no Inatters have come lo my atiention in conneciion with the exainii)aliun gTivinbp mc eau%Lb to believe that in any material respeet.. accouniingj rccord4 wcrc not kept in rc%pccl of thc Churily as rcquircd by section 3116 of the 2006 Act; or Ihc Iin£inLial slalLmL'nts do nul aLLurd wilh tho%L' rLLurd%,' ur il)L linanLial sldlLinLI)1s du iiut Lomply will) (hL dLLUUlllinb? rLquifL'mLnls of sL'Llion 390 of IhL' 2006 Act oihLr than uny rL4uirLmLll¢ that thL klLLoun15 givL a truL dnd Idir viLw whiLh is not a mattLr LonsidLrLd as purt of an indLpLndLni cxaminalion: or th¢ finan¢icil st4lt¢m¢nt% havc not bccn prcparcd in a¢cordic ncc with thc m¢thods and principlcs of thc Stat¥incnt ul. RL¢oniincnd¥d Pra¢tiL¥ lor aL¥ountingF dnd rLportinb by Lhariti¢s appli¢abl¢ lo (harilics pr¥paringv Ih¢ir a¢¢ount% in ac¢ordan¢c with Ihc Financial Rcportin&F Standard applicablc in Ihc UK and Republic of Ireland IFRS 1021. I hav¢ no conccrn5 and havc comc across no oihcr mallcrs in connLLlion with the cxaminalion to which attention bhould bc drawn in this rcport in ordcr lo cnablc a propcr undcrslanding of Ihc financial blalem¢n15 to b¢ reached. Davld Howard I Park Road Hampton Wick Kingston Upon Thames KTI 4AS Dated.. 2&0512023
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOML AIYD EXPLNDI"I"URE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted Restricted funds funds 2022 2022 Total 2022 2021 Notes Income from: Donations and legacies 2.950 23,000 25.950 25.000 enditure on: L'harit¢iblL' aLtivilies 3,258 48,924 52,182 33,936 Net expenditure for the yearl Net movement in t'unds (3081 125,924) {26,232) 18,9361 Fund balanccs al I SeplLinbcr 2021 18321 25,924 25.092 34.028 Fund balanees At 31 August 2022 11,1401 11,140) 25,092 The slalcmcnl of financial activities includcs all b*ains andlosscs rccogbniscd in thc year. All inLomL und LxpLndilurc dLrivL Irom Lontinuing aciivilics. The slulLm¥nl i)f finunlial uiliviliL% also complie% with the requirement% for an income and expenditure 4IL¥ounl undLr ihL Conip(IniLs ALI 20116.
THE CHARITABLE OUNDAI-IOIY TrOR LDuCATIo DLVELOPME&YT BALANCE SHEET ASAT31 AUGUST2022 2022 2021 Notes c.urrent 8s$els L'Jsh Ji bdnk diid in hand 2,875 25,932 Creditors: •mount$ f4llinR dye withln ne ve4r (4,0151 1840) Net currenE Iliabiliiie8)/asset5 (1,140) 25.092 Income funds R¥siriLlid fiiiids Unresiricted tunds 25.924 111.12) (1,140) 11.140) 25.092 TIIL. CQlllP4iny is Lnliilcd in the excmplion Ir()m the audit rcquiremcnl conlained in Section 477 of Ihe CtsmpiiniLs ALI ?U06. for IhL yL41r Lndid 31 AuguI412022. ThL. dir¢¢ior knO.7¢d¥L' their r¥sponsibilitlLts lor ¢Dmplyin¥ with Ihc requiTLm¥nlS of thL Cvmpanics A¢1 ?IMX) with respect lo accounling record% and (he preparation ol. Iinancial 5taleiiients. Thc mcnibcrs hakc nol rcquld thc company to obtain an audil of ils financial slalcmcnls lor Ihc ycar in question in a¢Lorddnc¢ with section 476. Tliese financidl slalement5 have beeii prepared in llLcordunce with the PTovisiuns applicable lo Lompanies .4ubjL'LI tu ihe 4m4tll ¢i)iiipanies N'uimc. 2510512023 Th¢ financial .4t&lemenls were approved by the Tru%lee5 on ....................... M Fardday Trustee Company reglslratlon number 08687374
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT NOTES TO THE FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 3] AUGUST 2022 Accounting policies Charity information ThL Chdrit<iblc Foundatiun FLir Education DL'vL'lupmL'nt is a privdtc Loinpany limilL'd by gudrdntL incorporatLd in Lngland aiid WalLs. Thc rL'gislLrLd oifieL is CIO Mat Traraday Thc Long Barn, Cobham Park Road, Cobhain. Surrcy. KTI13NE, UnitLd KingTdum. 1.1 Accounting convention The Iiiiaiicial .41alcinLllts have been prepared in accordance with the Charity's Memorandum of Association, the Coinpclnics Act 2006 ai)d 'Accounling and Rcporling by Charitics.. Sialen)enl of RcLoinincndLd Prdcticc dppliLciblc to charilics preparing their accounts in aLLordancc with thc Fii)ancial Rcporling Standdrd dppliLablc in thc UK and Rcpublic ol. IrL.Idnd (FRS 1021" las dmendcd tor accounting pcriuds LoinincnLingF Irom l January 20191. Thc C'harity 15 d PiibliL Benefit Entity as dctincd by FRS 102. Th¢ Charity has tak¢n advantagF¢ of th¢ provisions in the SORP for charities applyins, FRS 102 Update Bullctin I not to preparc a Siateinent of Ca%h Flows.. Thc Iinancial stat¢mcnts arc prcparcd in stcrling. which 14 th¢ functional CUencY of th¢ Charity. Monctary amounti in thc4¢ lin<inciJl slal¢mcnt% urc round¢d to thc ncarcst £. Thl findnLidl %lulLininls huvL bLLn prLp%ircd undcr IhL historical cost convcnlion. Thc principal ULLC)unlinb p()Ii¢iL% dd()pl¢d arL oul bLI()w. 1.2 Golng concern At lh¥ lim¥ ol. approving thc financial statcm¢nts. thc Trustc¢8 havc a r¢asonablo ¢xpc¢lation that thc Charity haq ad¢qu<lt¢ r¢40urc¥4 10 ¢i)nlinuc in i)p¥r<ili()nal cxist¢n¢¢ for th¥ l()rL%¥¥abl¥ lutur¢. Thu4 thc Trustc¢s continu¢ to adopt th¢ gyoing con¢¢rn basis of accountinsF in pr¢paringF th¢ financial stat¢m¢nts. 1.3 Charitable funds UnrL%lriilLd lund4 arc availablL for Ubc al Ihc di5Lrclion of IhL Tru51Lcs in furthLranLC of Ihlir charilablc objcclivcs. Reslricled funds are subject to specific conditions by donors af lo how they may be used. The purposes and uscs uf thc rcstriLtcd funds arc sct Out in ihc notLS to thc financial 5talcincnls. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Income Incomc is rccog¥ni5cd whcn thc Charity is Icgjally cntitlcd to it aftcr dny pcrforniancc condition5 have been mct, thc amounts can bc mcasured rcliably, and it is probablc that incomc will bc rcccivcd. Cash donations are rccognised on receipt. Other donations arc rccogFnised once the Charity has been notificd of the donation. unless pcrtormancc conditions rcquirc dcfcrral ot the amount. Income tax recoverable in relation to donations rcccivcd undcr Gift Aid or dccds of covcnanl is rccogniscd at the time of the donation.
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT NOTES TO THE FINANCIAL STATEMEIYTS (CONTIIYUED) FOR THE YEAR ENDED 3] AUGUST 2022 Accountlng pollcles (Contlnued) Lebpacies are rccogJnised on receipt or othcrwi5c if thc Charity has bcen nolificd of an impcnding dislribulion, the aiiiuunl 15 known, and receipt is expcctcd. If the amount is not known, thc legacy is trealcd as a conlingcnt asset. 1.5 Expenditure Income and expenses arc included in the financial statements as they become receivable or due. Expenses include VAT where applicable as ihe company cannot reclaim it. Supp()rt Co%1% relulinb> lo a particular fund are alluLated direLily, other% are apportioned on an apprL)priale bu%14 when appliLdble. The Lharily hd% idLnlifiLd one dirLLI Lhuriiuble aLlivily. Governance coqis are those incurrcd in conncciion with adminislralion of ihe chariiy and compliance with con81iiuiional and slaluiory rcquircmcnls. 1.6 Cash and ii)sh i'qulvalLnts Q'a%li aiid La%li LqUIV£ilL'nt% include cd%h in hand. deposits1)eld at call with banks, uther %hort-tcrm liquid invL'%lmLnt% with origpindl IndturitiL'% of tlirL'e Inoiitlis ur Icss. and bank ovLrdraft%. Bank ovcrdraft% are shown within borruwings in eurrenl liabililies. CrltlcAI accountlng estlmates and Judgements In the application ol. the Charity's accounting policies, the Trustees are requircd (o make jud&Tcmenis, c.8timalcs and assui))plions about the carryingJ aiiiouI)l ol. asscts and liabililics thal arc nol rcadily apparei)t Iroi)) othcr %ourccs. The esliillalcs ai)d a.ssociatcd asSUIIIPlion.% are based on l)islorical cxpericncc and oihcr laclors that are considered lo be relevant. Actual results may differ froin these cstima¢es. The estiinalcs and underlying assumption5 are reviewed on an ongFuingy basis. Revisions lo accounting estimatcs arc recogTniscd in thc pcriod in whicl) Ihc cslii))alc is reviscd whcrc thc rcvision affccts only that pcriod. or in Ihc pcriod of Ihc rcvision and tuturc pcriods whcrc tlie rcvision atlccts both currcnt and futurc pcriods. Donation5 and leg*eie5 Unrestricte Restricted Total Restricted funds funds funds 2022 2022 2022 2021 Donations and gifts 2,950 23,000 25,950 25,000
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT NOTES TO THE FINANCIAL STATEMEIYTS (CONTIIYUED) FOR THE YEAR ENDED 3] AUGUST 2022 Charitable activities 2022 2021 Grants for Education support {see note 5} 48,924 33,000 Share of support eosts Share ot giovLmancc cosls 96 3,162 96 840 52,182 33,936 An&lysls by fund UnrcgiriclLd funds R¢stri¢tcd funds 3,258 48.924 52,182 For the year ended 31 August 2021 Unre%tri¢l¢d funds Reslricled funds 936 3.1,000 33.936 Grants payable 2022 2021 Grants to institutions.. Raspblrry Pi Foundalic)n Action for Children Foui)dation for Educatioi) Developincnl Academic charities ¢onneLted to the Livingstone Academy 30,000 3.000 48,000 924 48,924 33,000 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT NOTES TO THE FINANCIAL STATEMEIYTS (CONTIIYUED) FOR THE YEAR ENDED 3] AUGUST 2022 Employee5 The average monthly number of employees during the year was.. 2022 Number 2021 Number Total There were no eiiiployees whose annual reimuneration was more than £60.000. Creditors: amounts falllng due wlthln one year 2022 2021 Trade creditors OihLr Lrcdilors Ac¢ru(Ils 1.830 13 2,172 840 4.015 840 Restricted funds The incomc lunds ol. the charity includc rcstrictcd lunds coinpri8ing the following unexpendcd balances ot'donations and &Frants held on trust lor specific PUryK)ses.' Movement in funds Incomlng R86ource8 Balanc6 at r•8ource• •xponded 1 Septemb8r 2021 Movement in (und5 Incomlng Ro8ource8 rosources oxpond8d Balanc8 at 1 September 2020 Balance at 31 Augu•t 2022 Livingston¢ A¢ademies Foundation for Education Developinenl 33.924 (33.000) 924 (924) 25.000 25.000 23.000 {48.0001 33,924 25,000 (33,0001 25,924 23,000 (48,9241 Restricted funds arise in respect of the establishment of the Livingston¢ Academies and the Foundation for Education Development.
THE CHARITABLE FOUNDATION FOR EDUCATIOiY DEVELOPMENT NOTES TO THE FINANCIAL STATEMEIYTS (CONTIIYUED) FOR THE YEAR ENDED 3] AUGUST 2022 10 Analysis of net a55ets betiveen funds Unrestricte Restrlcted d funds funds 2022 2022 Total Total 2022 2021 Fund balances at 31 August 2022 arc rcprcscnlcd by= Cuent assctsl{liabilitics) 11.140) {] 140) 25.092 11.140) (1,140) 25.092 11 Related party trAnsactlons Th¢r¢ w¢r¢ no disclosablc wlat¢d party transactions durin¥ th¢ ycar12021 non¢). 10-