Charity Registration No. 1170682
Company Registration No. CE009334 (England and Wales)
THE FRAMLINGHAM FOUNDATION TRUST
T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
W Ashurst S Camp S Hardwick
Charity number 1170682 Company number CE009334 Principal address 41 Great Portland Street London W1W 7LA Accountants Hardwick & Morris LLP 41 Great Portland Street London W1W 7LA
THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Accountants' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 9 |
THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees are pleased to present their annual report, together with the independently examined financial statements of the charity for the year ending 31 December 2020.
The trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The objectives of the charity continue to be:
1) To contribute towards or for the benefit or furtherance of such charitable institutions or charitable purposes in such a manner and (if more than one) in such shares as the trustees shall in their absolute discretion from time to time determine and in particular but without prejudice to the generality of the foregoing to or towards or for all or any of the charitable purposes
2) To make grants principally in respect of drama, music and arts teaching at Thomas Mills School and, secondarily, to make grants for other applications by pupils at Thomas Mills School in relation to sports and other activities
3) To make grants to persons under the age of 18 years to assist with the costs of the study of music and singing as well as coaching in live musical performance and to include without limitation the cost of buying musical instruments, vocal coaching, associated musical equipment, the cost of rehearsal rooms and the cost of putting on of live performances.
Achievements and performance
Following further grants in 2020 to Thomas Mills School, the upgraded Art, IT and Music rooms continue to provide students and teachers with top class learning resources and are also able to provide enrichment days and conference days for both Primary and secondary students coming in from outside the school. Funds are now being invested largely in infrastructure and to allow the continued high quality provision these funds facilitate. This has been particularly crucial at this time when usual teaching methods have had to adapt to the changing social landscape.
As noted by the schools business manager, the change of the photography laptops from Mac to Windows allows the school to provide IT support directly and centralises the IT infrastructure into its own network allowing better control.
To ensure optimum utilisation of the grant funds and the equipment already purchased (now aging in technological capability), some of the original MAC's (Pre grant assets) have been allocated to other departments and the remaining machines are being sold to repurpose the funds in the coming year. This allows the Art, IT and Music rooms to continue to upgrade and stay at the forefront of creativity.
Richard Hanley - Director of Music
''At a time when Music and the Arts are recognised as being so vital in pupils’ well being after such an extended period of disruption, this school is very well placed, through the Framlingham Foundation donation to support pupils’ musical development and mental health. Thank you.''
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Additionally, a donation was given to Framlingham Parochial Church Council to facilitate continuation of an educational program for children of Sir Robert Hitcham CEVA Primary School as part of 'Sing Praise'. This donation allowed for an expansion to the curriculum of the program and additional resources to benefit the children.
A grant was also made to the Suffolk Kodaly CIC to facilitate free online Kodaly lessons for children as well as teachers training in the Kodaly method. This method is well known as an alternative to traditional music tuition (focussing predominantly on aural skills and intuitive skill) and allows those students with learning difficulties to access a world of musical creation they may otherwise find it difficult to connect with.
Lastly, during the year, the foundation began granting young applicants funds under 'The Ed Sheeran Suffolk Music Foundation' fund. ESSMF is a charitable music foundation which aims to help young people under the age of 18, and living in Suffolk (UK), with small but useful grants to help with studying or playing music. These grants could be used for almost anything, such as buying an instrument, funding your music studies, or paying for rehearsal space.
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level to allow the work of the charity to continue going forward. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding or any unexpected but necessary expenditure, that they will be able to continue the charity’s current activities, while consideration is given to ways in which additional funds may be raised.
Structure, governance and management
The charity is a company limited by guarantee governed by its Memorandum and Articles of association. It is registered as a charity with the Charity Commission and there are currently 3 trustees, all of whom do not have a beneficial interest in the company.
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
W Ashurst S Camp S Hardwick
The charity currently has no employed staff, with the routine business of the trust being carried out by the trustees. The management of the charities assets are monitored by the board of trustees solely. The trustees meet regularly throughout the year and communicate frequently by telephone/email to discuss trust matters and policies.
The Trustees' report was approved by the Board of Trustees.
.............................. S Hardwick - Trustee Dated: .........................28 October 2021
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FRAMLINGHAM FOUNDATION TRUST FOR THE YEAR ENDED 31 DECEMBER 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Framlingham Foundation Trust for the year ended 31 December 2020, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 12 December 2016. Our work has been undertaken solely to prepare for your approval the financial statements of The Framlingham Foundation Trust and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Framlingham Foundation Trust and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The Framlingham Foundation Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Framlingham Foundation Trust. You consider that The Framlingham Foundation Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Framlingham Foundation Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
28 October 2021
Hardwick & Morris
.........................
Chartered Accountants
41 Great Portland Street London W1W 7LA
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes Income and endowments from: Donations and legacies 2 Other income 3 Total income Expenditure on: Raising funds 4 Grants and donations 5 Other 7 Total resources expended Net movement in funds Fund balances at 1 January 2020 Fund balances at 31 December 2020 |
2020 £ - 374 374 17,054 52,507 534 70,095 (69,721) 529,843 460,122 |
2019 £ 20,000 843 20,843 - 41,000 - 41,000 (20,157) 550,000 529,843 |
|---|---|---|
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION BALANCE SHEET
AS AT 31 DECEMBER 2020
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Current assets | ||||||
| Cash at bank and in hand | 460,287 | 529,843 | ||||
| Creditors: amounts falling due within | ||||||
| one year | 8 | (165) | - | |||
| Net current assets | 460,122 | 529,843 | ||||
| Income funds | ||||||
| Unrestricted funds | 460,122 | 529,843 | ||||
| 460,122 | 529,843 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
28 October 2021
The financial statements were approved by the Trustees on .........................
..............................
S Hardwick
Trustee
Company Registration No. CE009334
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised in the Statement of Financial Activities, when the charity is legally entitled to it, can be measured reliably, and is probable that income will be received.
1.5 Resources expended
Expenses are recognised in the Statement of Financial Activities, when the charity has a legal or constructive obligation, which can be measured reliably and it is probable that a transfer of economic benefits will be required in settlement. Expenditure is accounted for on an accruals basis and have been classified under headings that aggregate all cost related to the category.
2 Donations and legacies
| Donations 3 Other income Other income |
2020 £ - 2020 £ 374 |
2019 £ 20,000 |
|---|---|---|
| 2019 £ 843 |
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
4 Raising funds
| 5 | Fundraising and publicity Staff costs |
2020 £ 17,054 17,054 |
2019 £ - |
|---|---|---|---|
| - | |||
| Grants and donations | |||
| Grants to Thomas Mills School Donation to Framlingham Parochial Church Council Donation to Sir Richard Hitcham Project Donations to Under 18 Suffolk based music students Donations to Suffolk Kodaly CIC |
2020 £ 30,000 10,000 - 8,507 4,000 52,507 |
2019 £ 30,000 10,000 1,000 - - |
|
| 41,000 |
6 Trustees
No trustees, nor any persons connected with them, received any remuneration or benefits from the charity during the year to 31 December 2020.
7 Other
| Other costs Postage |
2020 494 40 534 |
2019 - - |
|---|---|---|
| - |
8 Creditors: amounts falling due within one year
| Other taxation and social security Other creditors |
2020 £ 125 40 165 |
2019 £ - - |
|---|---|---|
| - |
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THE FRAMLINGHAM FOUNDATION TRUST T/A THE ED SHEERAN SUFFOLK MUSIC FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
9 Related party transactions
There were no related party transactions for the year ended 31 December 2020.
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