REGISTERED CHARITY NUMBER: 1181805
Report of the Trustees and
Financial Statements for the Year Ended 31 January 2022
for
Frederick Gough CIO
SKS Bailey Group Limited Suite 9 Normanby Gateway Scunthorpe North Lincolnshire DN15 9YG
Frederick Gough CIO
Contents of the Financial Statements for the Year Ended 31 January 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
Frederick Gough CIO
Report of the Trustees for the Year Ended 31 January 2022
The trustees present their report with the financial statements of the charity for the year ended 31 January 2022. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to advance the education of the pupils of Frederick Gough School by:
1.1 developing effective relationships between the staff, parents and others associated with the school
1.2 engaging in activities or providing facilities or equipment which support the school and advance the education of the pupils.
Public benefit
The trustees have had regard to the Charity Commission's guidance on public benefit.
FINANCIAL REVIEW Reserves policy
The charity does not have a formal reserves policy. The trustees consider this to be appropriate in the charity's circumstances.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The CIO is controlled by its governing document and is registered as a charitable incorporated organisation.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1181805
Registered office
Frederick Gough School Grange Lane South Scunthorpe DN16 3NG
Trustees
Miss K L Braithwaite Trustee – Appointed on 30.01.2019 B D Lawrance Chair – Appointed on 30.01.2019 M H Galey Trustee – Appointed on 12.12.2019 A M Conroy Trustee – Appointed on 23.05.2019
Approved by order of the board of trustees on 14 July 2022 and signed on its behalf by:
B D Lawrance - Trustee
Page 1
Frederick Gough CIO
Statement of Financial Activities
for the Year Ended 31 January 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 24,290 Investment income 2 8 Other income 120 Total 24,418 EXPENDITURE ON Support governance costs Accountancy fees 240 Total 240 NET INCOME 24,178 RECONCILIATION OF FUNDS Total funds brought forward 80,836 TOTAL FUNDS CARRIED FORWARD 105,014 |
2021 Total funds £ 12,340 108 - |
|---|---|
| 12,448 571 |
|
| 571 | |
| 11,877 68,959 |
|
| 80,836 |
The notes form part of these financial statements
Page 2
Frederick Gough CIO
Balance Sheet
31 January 2022
| 2022 Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 24,290 Cash at bank 80,964 105,254 CREDITORS Amounts falling due within one year 6 (240) NET CURRENT ASSETS 105,014 TOTAL ASSETS LESS CURRENT LIABILITIES 105,014 NET ASSETS 105,014 FUNDS 7 Unrestricted funds 105,014 TOTAL FUNDS 105,014 |
2021 Total funds £ 12,340 68,736 81,076 (240) 80,836 80,836 80,836 80,836 80,836 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 July 2022 and were signed on its behalf by:
B D Lawrance - Trustee
The notes form part of these financial statements
Page 3
Frederick Gough CIO
Notes to the Financial Statements
for the Year Ended 31 January 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 I January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102- reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' - The requirements of Section 7 Statement of Cash Flows.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Bank interest | 8 | 108 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2022 nor for the year ended 31 January 2021.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 January 2022 nor for the year ended 31 January 2021.
The notes form part of these financial statements
Page 4
Frederick Gough CIO
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| fund | ||||||
| £ | ||||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 12,340 | |||||
| Investment income | 108 | |||||
| Total | 12,448 | |||||
| EXPENDITURE ON | ||||||
| Support governance costs | ||||||
| Accountancy fees | 571 | |||||
| Total | 571 | |||||
| NET INCOME | 11,877 | |||||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 68,959 | |||||
| TOTAL FUNDS CARRIED FORWARD | 80,836 | |||||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Other debtors | 24,290 | 12,340 | ||||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Accrued expenses | 240 | 240 | ||||
| 7. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At | 1.2.21 | in funds | 31.1.22 | |||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 80,836 | 24,178 | 105,014 | |||
| TOTAL FUNDS | 80,836 | 24,178 | 105,014 |
continued...
Page 5
Frederick Gough CIO
Notes to the Financial Statements - continued
for the Year Ended 31 January 2022
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 24,418 | (240) | 24,178 |
| TOTAL FUNDS | 24,418 | (240) | 24,178 |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.20 | in funds | 31.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 68,959 | 11,877 | 80,836 |
| TOTAL FUNDS | 68,959 | 11,877 | 80,836 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 12,448 | (571) | 11,877 |
| TOTAL FUNDS | 12,448 | (571) | 11,877 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.20 | in funds | 31.1.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 68,959 | 36,055 | 105,014 |
| TOTAL FUNDS | 68,959 | 36,055 | 105,014 |
continued...
Page 6
Frederick Gough CIO
Notes to the Financial Statements - continued
for the Year Ended 31 January 2022
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 36,866 | (811) | 36,055 |
| TOTAL FUNDS | 36,866 | (811) | 36,055 |
8. RELATED PARTY DISCLOSURES
The charity received a donation from Frederick Gough Facilities CIC, registered in England & Wales under number 08345873, by virtue of its control and influence over that non-charitable social enterprise.
The charity has not prepared group accounts as the aggregate income of the group, after the elimination of all group transactions from its income for the period, did not exceed £1m.
The charity supports the Frederick Gough School by way of grant funding.
Page 7
Frederick Gough CIO
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 January 2022 | ||
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 24,290 | 12,340 |
| Investment income | ||
| Bank Interest | 8 | 108 |
| Other income | ||
| Provision for accrual no longer required | 120 | - |
| Total incoming resources | 24,418 | 12,448 |
| EXPENDITURE | ||
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 240 | 571 |
| Total resources expended | 240 | 571 |
| Net income | 24,178 | 11,877 |
This page does not form part of the statutory financial statements
Page 8