Charity No. 1171969
Trustees, Report and Unaudlted A(xounts

Aspiring Solicitors Foundation
Contents
Pages
Trustees, Annual Report
Independent Examiner5 report
Statement of Financial Attivities
Summary Income and Expendrcure
Balance Sheet
Notes to the Accounts
Detailed Statement of Finanaal Activitie5
P3ge I

Aspiring Sollcitors Foundatlon
Trustees Annual Report
The Trustees present their report wkth the unaudited finanaal statements of the charttyforthe
year ended 4th August 2020.
REFERENCE AND ADMINisfRAllvE DETAILS
Charity No. 1177969
9 Park Lane Business Centre
Park Lane
Langham, Colche5ter
Essex
C04 5WR
Trustees
The following Trustee5 served during the year.
J. Hutchens
5. Samani
S. Sindair
T. Smith
C. White
Accountsnts
L J Rose Accounting
9 Park Lane Business Centre
Park Lane
Langham
Éssex
C04 5WR
The Trustees are responslble for keepin8 proper 3CtOLEntin8 record that disdose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements
comply wlth the Charitie5 Act 2011. the applicable Chartties (Accounts and Report51 Regulations, and the
provisions of the Trust deed. The Trustee5 are aLso ￿spOnsIble for5afeguarding the Assets of the Charity and
hence taknng reasonable steps for the prevention and detertion of fraud and other irregularities.
Signed on behalf of the Chariti"e5 trustees
C White
Page 2

Aspiring Solicitors Foundati(
Independent Examiners Report
Independent Examlnerfs Reportto the trus*e5 of Asplrlng Solkltots Foundation
I reportto the trnstees on my examination of the accounts of Aspiring Soliator5 Foundation for the
year ended 04, August 2020 which comprise the Ststement of Finanaal Activttie5, the Balance Sheet
and the related notes.
ResponsiThilities and basis of report
As the tharity's trustees you are responsible for the prepardtion of the accounts in accordance with
the requirements of the Charttie5 Act 20111'the Act'l. The trustees consider that an audit is not
reouired for this year underthe CharttiesAct 2011, 5.144(21 (the 2011 Attl and that an independent
examination is needed.
I report in ￿spert of my examination of the charivs accounts carried out under section 145 of the
2011 Act and in carryng out my examination I have followed all the applicable Directions given by
the Charity Commission under section 145{51{b} of the Act
Independent examinerfs 5t*ernent
I have completed my examlnation. I can confim that no material matters have come to Tlly attention
in connection with the examination giwng me cause to believe that in. any material respect:
The accounting records were not kept in respect of the chartty as required by section 130 of the Act:
or
The accounts do not accord with those records; or
The accounts did not comply wtth the applicable requirements COF)cerning the fom and content of
accounts set out In the Charities IAccour¥ts and Reportsl Regulations 2LK18 other than any
requÈrement that the accounts give a 'true and frdirf view which is not a matter con5iderÈd as part of
an Independent examination.
I have no concerns and have come across no other matteT5 in connection wth the examination to
which attention should be dravm in this report in orderto enable a proper understanding of the
accounts to be reached.
L Rose
FMAAT
LJ Rose Accounting Ltd
9 Park lane Business Centre
Langham
Essex
C04 5WR
8" March 2021
Page 3

Aspiring Sol&citors Foundatio
ststernent of Finandal Athi
forthe year ended 4 August 2020
dfunds
2020
funds Total lunds Total funds
2019
2020
2020
Income and endowmw
from:
Donations and le83cies
106,152
106.152
11,500
Total
106.152
106,152
11.5(K)
Expenditu￿ on:
Other
47.825
47,825
4.717
T¢)tsl
47.825
47,825
4,717
Net gains on investments
Net Income
58,327
58,327
6,783
Trdnsfers between funds
Net Income before other
galt)s1{lossesl
58.327
58,327
6.783
Other gains and losse5
Net movement in funds
58.327
58.327
6.783
Reconclllatton of fund5:
Total funds brought fotward
6.783
Totsl funds carrÉed forward
58,327
6,783
65,110
6,783
P38e 4

Asplrlng Sollcltors Foundatlon
Summary Income and Expenditure Account
forthe year ended 4 Au8USt 2020
2019
Income
106.152
Gross Income for the year
Expenditure
106,152
47,825
Total expendlture forthe year
Net income before tax for the yfdr
47,825
58.327
Net Income forthe year
58,327
Page 5

Aspiring Soli¢itors Foundation
Balan￿ Sheet
at 4 August 2020
Company No. CE013811
2020
2019
Current assets
Cash at bank and in hand
66.178
66.178
li.(Ktr81
65,110
6,783
6,783
Credltoys: Amount falling due within one year
Net current assets
6.783
Total assets le￿ current liabilities
65,110
6,783
Net assets exdudin¥ pension a55et or liability
65,110
6,783
Total net assets
65,110
6,783
The funds of the (hartty
Restrfrted funds
Restilcted income funds
6,783
6,783
6,783
6,783
Unrestricted funds
General funds
$8,327
58,327
Reser
Total thnds
65,110
6,783
Approved by the board on 08 March 2021
And signed on its behalf by-.
C. White
Trustee
08 March 2021
Page 6

Aspiring Solicitors Found8
Notes to the Accourts
for the year ended 4August 2020
l A¢counting policies
Basi5 of preparation
The firsancial statements have been p￿pared in accordance wlth Accounting and Reporting by Charities:
Statement ot Recommended PractÉce applicable to charities preparing their accounts in accordance with
the Financial Reporting Stzndard applicable in the UK and Republic of Ireland IFR5 1021 (effective I
January 20151- (Charities SORP IFRS 10211, the Finanaal Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 ar￿ the CharitFes Art 2011.
Change in ba515 of accounttiE orto Previo￿ a¢couftts
There has been no change to the accounting policies Ivaluatton rule5 and method of a¢countingl Since
last year and no changes have been made to accounts for prevtous year
Fund accountlng
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objecrs of the charity.
These are unrestritted fiRnds earmarked by the trusteesfor particular purposes.
These Bre unrestrirted funds which include a revaluation reserve representing the
restatement of investment assets at their market valu￿.
These are a¥ailable for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
n£ome
Income is included in the Ststement of Finanaal ActNities1SoFAI when the charrty
becomes entitled to, and virtualty ￿rtain to re¢eNe. the income and the amount of
the income can be measured with 5uffiaent reliabilty.
Income with related Where income has related expenditure the income and related expenditure is
expendtture
reported gross in the SOF
Donations and
legacies
Voluntary income received by way of grants, donations and gtfts is included In the
the SOFA when receivable and onty when the Charity has uncondttional
entitlernent to the income.
Tax reclaims on
Income from tax reclaims is induded in the SOFA at the same time as the
donattons and gifts giftldonation to which It relates.
Donated services
These are onty included in income (with an equivalent amount in expenditure)
and facllltles
where the benefftto the Chartty is reas(Ktabty quanttfiable. measurable and
material.
Volunteer help
The value of any volunteer help recetved ts not included in the accounts.
Investment income This is induded in the accounts when receiwdble.
Gainslllossesl o
This includes any gain or loss resulting from revaluing in¥e5tments to market valL¢e
revaluation ot fixed at the end of the year.
assets
Gainsll105sesl on
investment assets
This include5 any gain or loss on the sale of investmerrts.
Page 7

Aswrin# Solicitors Foundation
Note5 to the Accourrts
Empenditure
Recognstion of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expendtture on
These comprise the costs associated with attracting voluntsry income. fvndr31s1ng
ra15ing funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its artivities and
charitable activities service5 the fijrtherance of its objetts. including the making of grdnts and
governance costs.
All grant expenditu￿ is accounted for on an actual paid basis plus an accnJ21 for
grnnts that have been approved by ts trustees at the end oFthe year but not yet
paid.
These Indude those costs assoaated with meeting the constitutional and slatutory
requirements of the Charity. including any auditlindependent examination fees.
costs linked to the rtrategic management ofthe Charity, together wfch a share of
other administration costs.
These are support costs not allocated to a particular activtty.
Grants payable
Govemance costs
Other expendtture
The ch3rty is exempt trom corporation tax on its charitable adivitres.
Cash and cash eqUI￿lents
Cash and cash equivalents comprise cash at bank and on hand. demand deposÈts with bank5 and other
short-term highly liquid investments Wtih original mawrtftes of three months or less and bank overdrafts.
In the statement of finanual position. bank overdrafts are shown within borrowings or current li3bi1sties.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and fomi an integral part of the company's cash management.
Pag@ 8

Aspirine Solicitors Foundation
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provislOn5 are recognised
Whe￿ the chartty has a present obligation resytting from a past event that will probably result in the
transfer ot funds to a third party and the amount due to setde the obligation can be measured or
estimated reliably. Creditors and provislons are normally reco8¥Jised at their setdement atnount after
allowing for any trade dTscounts due.
Page 9

Aspiring Solicrtors F￿ndation
Notes to the Accounts
2 Income from donations and *ae5
Totsl
Total
2020
2019
106.152
106.152
106.152
106.152
11,5
11,500
3 Other expendltwe
Total
Total
2020
Z019
43,117
43.117
4,700
Gener31 administrative costs
Legal and professional cost5
17
1,108
47,825
1.108
47,825
4,717
4 Staff costs
No employee re￿iVed emoluTnents excess of £￿.{X￿).
5 Creditors:
amounts falling due wtthin one year
2019
Other creditors
1,068
6 Movement In funds
Incomi
At4
{indudlng
other
At 5 Augull gainsl1055es
2019
expended
August
2020
Restricted tunds:
Restrirted In￿Me funds:
6.783
6.783
Totol
6.783
6.783
Unre5trirted funds:
General funds
106,152
147,825}
58,327
Revaluation Reserves:
Total funds
6,783
106,152
147,8251
65,110
Page 10

Aspiring Solicitors Foundation
Notesto the Accounts
7 Analysls of net a55ets between fuNIs
Total
funds
Net current assets
65,110
65,110
65,110
65,110
8 Reconciliation of net debt
New
HPIFinan
leases
At4
August
2020
2019 Cash flows
Cash and cash equNalents
6.783
6.783
59,395
59,395
66,178
66,178
Net debt
6,783
59,395
66,178
Page 11

Detalled Statement of Hnandal Actm
for the year ended 4Au8USt 2020
Total funds Total funds
2020
2019
2020
Income and endowments from:
Donations and legacies
IChS,152
106,152
106,152
106,152
11.500
11,500
Totsl inwme and endovfft
106,152
106,152
11,500
Expendlture on:
Other expenditure
43,117
43.117
43,117
43.117
4,700
General administiauve costs.
Including depreciatlon and
amortisation
Equipment expensed
Software. IT support and related
costs
2,443
2,443
992
992
17
Subscriptions
Telephone, fax and broadband
145
20
145
20
3.600
17
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
1.108
1,108
Total of expenditure of other costs
Totsl expenditure
47,825
47,825
4.717
47,825
47.825
4,717
Net gain5 oft investments
58.327
58,327
6.783
Net inwme
Net income l>efare other
84inslllasses)
Other Gains
58.327
58.327
6.783
Net movement in funds
58,327
58,327
6,783
Retonciliation of fund>.
Total funds broughtfonmard
6.783
6,783
Total fvnds catsied fward
58.327
6.783
65,110
6,783
Page 12

Trustees Report for the period 5 August 2019 to 4 August 2020
Objective
Removing financial barriers to the legal profession for aspiring solicitors.
Strategy
Raise funds from law firms, in-house legal departments, companies, financial seNices firms,
and individuals to help provide grants that deliver meaningful assistan￿ with tangible benefils
to eligible, socially mobile, aspiring solicitors identtfied through a fair and objective application
process.
OveNiew
The Aspiring Solicttors Foundation (AS Foundation) was established as a Charttable
Incorporated Organisation (CIO) on 16 AprÈl 2018. A period of research, platfom development
and benefactor engagement followed to a pre4aunch on 28 August 2019. Benefactors provide
donations to ensure a successful go live wrth the AS Foundation a¢cepting applications from
29 January 2020.
The AS Foundalion has a registered Chartty Number of 1177969 and is govemed by the
Charity Commission CIO Association M()del Constitution in conjunction with operational
models provided by the Nabonal Council Voluntary organisations (NCVO).
The main objective of the AS Foundation ts the ￿lief of financial hardship facing
undergraduale, graduate, and postgraduate students (part time I full timel, from the United
Kingdom. to help them to pursue a career as a solictior in England and Wales, in particular
but not exclusively by maknng grants by way of=
the provision of ttems (either outright or a loan) to faalitate, or connected with,
education andlor vocational training. and
the payment of fees for instruction, examination or other expenses connected with
vocational training.
The Independent Examiner has inspected the AS Foundation's accounts. The Trustees have
a reasonable expectation that the AS Foundation has adequate resources to continue in
operational existence for the foreseeable flrture. For this reason, they continue to adopt the
'going Con￿rn, basis in preparing the financial ststements.
The AS Foundation has a policy to provide SLrfficient reserves to finan￿ its liabilities and
statutory employment requirements.
Charitable Activities
The AS Foundation was impacted, soon after launch, by the COMD-19 global pandemic.
Despite this the charity refocused and was able to provide grants to several applicants in this
report period. There were, however, 5ignffjicant d[fferen￿$ between ourforecasted and actual
results. Grants by the AS Foundation were lower than exFected during the relevant financial
year, leading to a larger retained residual fund at the end of the period. It is expected this will
be used to make grants during the period 5 August 2020 onwards.

Our resums show we granted twice as many laptops as forecast. However. our forecasts of
providing 50 travel tickets w￿re not realised as the lockdown meant all law fimis events were
held online. This also meant no business dotling applications were received. Grants for
textbooks and online St￿lY resource subscriptions were h(qher than forecast.
We have Continued to extend our reach via Charrty Partners who provide a flow of application5
to us.
Funding and Support
We have main income streams"
Donations from law firns. corporate legal teams, and other business organisations.
Donations from individuals.
We have not fijlly explored the opportuntties for grant funding bul will do in the period from
5 August 2020 onwards.
Boards and Stsffing
Our Board consists of 5 trustees who are all from the legal profession. We are currentty
looking to strengthen and diversify the Board membership.
We have one part-time independent contractor covering two days each week.
Future
Trustees have identified the following actions..
Strengthen Trustee Board and Govemance Framework
Develop new funding streams.
Attract new applicants and benefactor5 by promoting on multiple social media
channels.
Develop the use of technology for all operational a¢tivtlies, improving tumaround times
while reducing costs.
Secure improved purchasing arrangements for all grant types.
The Trustees p￿sent their reF)Ort along wrth the financial statements of the AS Foundation for
the financial year ended 4 August 2020. The financtal statements have been prepared in
accordance with the accounting policies set out on pages 7. 8 and 9 and comply with the AS
Foundation's constttution and applicable law.
This Annual report was approved by the Trustee Board on 12 April 2021.