Charity Registration No. 1183829
Company Registration No. 11624110 (England and Wales)
THE ASHDOWN FOREST FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
THE ASHDOWN FOREST FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
C de Mestre K Aalto R St Clair Jones J Mills R St Pierre
(Appointed 1 June 2021) (Appointed 1 June 2021) (Appointed 1 June 2021) (Appointed 1 June 2021) (Appointed 12 July 2021)
Charity number 1183829 Company number 11624110 Registered office The Ashdown Forest Centre Wych Cross Forest Row East Sussex RH18 5JP Independent examiner Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT
THE ASHDOWN FOREST FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
THE ASHDOWN FOREST FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees present their report and financial statements for the year ended 31 October 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association , 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)".
Objectives and activities
The trust's objects are:
1) To promote for the benefit of the public the conservation, protection and improvement of the natural and physical environment of Ashdown Forest including as a place of amenity and resort
2) The provision of recreational facilities for the quiet enjoyment of Ashdown Forest in the interests of social welfare for the public benefit with the objects of improving their conditions of life
3) To advance the education of the public in the conservation. protection and improvement of the natural and physical environment of Ashdown Forest in furtherance of the above objects, but not otherwise the company shall have power to raise funds to support work and projects to protect and enhance Ashdown Forest for future generations to enjoy.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
This was the first year of operating as a charitable company having incorporated on 15th October 2018. The organisation filed dormant accounts for the period to the 31st October 2019.
Achievements and performance
Over the past year, the activities of the charity have been significantly curtailed by the Covid-19 pandemic.
It will be recalled that in order to establish the Ashdown Forest Foundation, as a charitable company limited by guarantee, it was necessary to recruit a board of interim Directors/Trustees. In accordance with the aspirations of the Board of Conservators as sole company member, the Foundation is in the process of recruiting independent Directors, most particularly to promote as substantive fundraising programme. In that regard, the Board of Conservators has approved the appointment of a professional fundraising organisation, Apple Consulting, to assist the Foundation in identifying prospective donors and to develop a comprehensive fundraising programme.
Financial review
The overall surplus for the year was £ 61,960 (201 9 - nil ) as set out in the Statement of Financial Activities on page 4 of the accounts.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees has assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust is a charitable company limited by guarantee . It is controlled by its governing document, which is its Memorandum and Articles of Association.
Richard Place Dobson page 1
THE ASHDOWN FOREST FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
| A Carden | (Resigned 1 June 2021) |
|---|---|
| R Clarke | (Resigned 1 June 2021) |
| R Stogdon | (Resigned 1 June 2021) |
| S Tidy | (Resigned 1 June 2021) |
| R Kyle | (Resigned 3 February 2020) |
| S McAll | (Appointed 1 June 2021 and resigned 12 July 2021) |
| C de Mestre | (Appointed 1 June 2021) |
| K Aalto | (Appointed 1 June 2021) |
| R St Clair Jones | (Appointed 1 June 2021) |
| J Mills | (Appointed 1 June 2021) |
| R St Pierre | (Appointed 12 July 2021) |
Trustees are recruited following a selection process carried out by the Chairman.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' r eport was approved by the Board of Trustees.
R St Clair Jones Trustee Dated: 30/07/21
Richard Place Dobson
page 2
THE ASHDOWN FOREST FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ASHDOWN FOREST FOUNDATION
I report to the trustees on my examination of the financial statements of The Ashdown Forest Foundation (the trust) for the year ended 31 October 2020.
Responsibilities and basis of report
As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road Crawley West Sussex RH10 1HT
Dated: 5 August 2021
Richard Place Dobson
page 3
THE ASHDOWN FOREST FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2020
| Unrestricted funds 2020 Notes £ Income from: Donations and legacies 2 88,782 Expenditure on: Charitable activities 3 26,822 Net income for the year/ Net movement in funds 61,960 Fund balances at 1 November 2019 - Fund balances at 31 October 2020 61,960 |
Total 2019 £ - |
|---|---|
| - | |
| - - |
|
| - |
The statement of financial activities includes all gains and losses recognised in the year.
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.
Richard Place Dobson page 4
THE ASHDOWN FOREST FOUNDATION
BALANCE SHEET
AS AT 31 OCTOBER 2020
| Notes Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Income funds Unrestricted funds - general |
2020 £ 2,784 61,276 64,060 (2,100) |
£ 61,960 61,960 61,960 |
2019 £ - - - - |
£ - - - |
|---|---|---|---|---|
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 October 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.
The financial statements were approved by the Trustees on 30/07/21
R St Clair Jones Trustee
Company Registration No. 11624110
Richard Place Dobson
page 5
THE ASHDOWN FOREST FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
1 Accounting policies
Charity information
The Ashdown Forest Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Ashdown Forest Centre, Wych Cross, Forest Row, East Sussex, RH18 5JP.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, 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 trust is a Public Benefit Entity as defined by FRS 102.
The trust 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 trust. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust 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 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably . Expenditure is classified under the following headings:
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THE ASHDOWN FOREST FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020
1 Accounting policies
(Continued)
Grants payable are payments to third parties in furtherance of the charitable activities, these payments are proposed and reviewed in the trustees meetings and are only paid on agreement of the trustees. The grants are accounted for when the payment has been made to the recipient which is usually within a timely manner of the meeting date.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
Staff costs include those who are employed by the Charitable Company or self contract freelance workers (split in the wages note). The costs are recognised in the time that they have worked for the organisation.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Donations and legacies
| Unrestricted funds general 2020 £ Donations and gifts 78,282 Grants Receivable 10,500 88,782 |
Total 2019 £ - - |
|---|---|
| - |
The Donations and Gifts comprise of £25,486 raised through the generous support of attendees at a Gala Dinner hosted by Chris Cowdry in November 2019 and a generous donation by Sussex Pony Grazing & Conservation Trust of £20,000; along with a memorial bench and other kind donations for benefactors.
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THE ASHDOWN FOREST FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020
3 Charitable activities
| Grants payable Share of support costs (see note 4) Share of governance costs (see note 4) Support costs Support costs Governance costs £ £ Website costs 3,996 - Bank Charges - 6 Accountancy Fees - 2,820 3,996 2,826 Analysed between Charitable activities 3,996 2,826 |
Grants payable 2020 £ 20,000 3,996 2,826 26,822 2020Support costs Governance costs £ £ £ 3,996 - - 6 - - 2,820 - - 6,822 - - 6,822 - - |
2019 £ - - - |
|---|---|---|
| - | ||
| 2019 £ - - - |
||
| - | ||
| - |
4 Support costs
Governance costs includes payments to the independent examiners of £ 2,100 (2019- £ nil ) for independent examination fees.
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
6 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
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THE ASHDOWN FOREST FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020
| 7 Debtors Amounts falling due within one year: Trade debtors 8 Creditors: amounts falling due within one year Accruals and deferred income |
2020 £ 2,784 2020 £ 2,100 |
2019 £ - |
|---|---|---|
| 2019 £ - |
9 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
10 Covid 19
A t the reporting date Covid-19 caused widespread lockdown measures to be imposed in the UK and worldwide. This has resulted in a reduction in both supply and demand in the economy. It is not currently possible to estimate the impact this will have on the future financial results of the c harity but management consider it to be a significant uncertainty. Management have assessed the impact of Covid-19 on the results reported for the financial year ended 31 October 2020 and consider that all COVID 19 related costs and effects have been reflected in the accounts.
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