**Charity Registration No. 1188416** ## **THE ALSOP FOUNDATION CIO** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE PERIOD ENDED 31 MARCH 2021** ## **THE ALSOP FOUNDATION CIO** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** |||| |---|---|---| |**Trustees**|Mr P Bull|(Appointed 9 March 2020)| ||MrT May|(Appointed 9 March 2020)| ||Mrs K Maunder|(Appointed 9 March 2020)| ||Mrs C Jones|(Appointed 9 March 2020)| ||Mr P Masher|(Appointed 1 September| |||2021)| |**Charity number**|1188416|| |**Principal address**|The Alsop High School|| ||Queens Drive|| ||Walton|| ||Liverpool|| ||L4 6SH|| |**Accountants**|Jackson Stephen LLP|| ||James House Stonecross Business Park|| ||Yew Tree Way|| ||Warrington|| ||Cheshire|| ||WA3 3JD|| |**Bankers**|Unity Trust Bank Pie|| ||Four Brindleyplace|| ||Birmingham|| ||B1 2JB|| THE ALSOP FOUNDATION CIO CONTENTS Page Trustees, report Accountants. report Statement of financial activities Balance sheet Notes lo the financial slalemenls THEALSOP FOUNDATION CIO TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2021 The trustees present their annual report and financial statements lor the period ended 31 March 2021. The financial statements have been prepared in accordance with the a¢¢f)unling policie5 sel out in note 1 to the financial statements and comply with the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalement of Re¢ommended Practice applicable lo charities preparing their accounts in a¢¢ordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} leffeclive 1 January 2019}. Objectives and activities The objects of The Alsop Foundation CIO is, for the public benefit.. 111 To advance the education Cif the puplls land former pupils. from time lo limel at Alsop High School, Liverpool, by providing and assisting in the provision of facilities not reqUI￿d to be provided by the local education authority for education al the School., 121 Awarding lo such pupils (or fomer pupils) scholarships, malntenanee allowances or grants tenable at any university, colle9e or instrtution of higher or fvrther education andlor providing their education lincluding the study of music or other arts), lo undertake travel in furtherance of that education. or lo prepare for enty to any occupab'on, trade or profession on leaving any educational establishment., 131 To advance the education generally of such pupils land former pupils), Ihe5r parents andlor guardians, including (but wf(hout prejudice to the generality of the foregoin91 by the prowsion of classes on basic numeracy, literacy and information techntslogy. Nothing in this constitution shall authorise an application of the propwty of the CIO for purposes which are not charitable. The CIO was established at the start of the Covid 19 lockdown. The CIO was unable to open a bank account until December 2020 due to Covid reslrictions. Once the account was opened the CIO was in a posib'on lo receive income and begin to fulfil its charitable objectives. Trustees were initialty appointed by the Goveming Body ofAlsop High School and will serve a period of offi¢e as stipulated by the constitution of the CIO. Thereafter the trustees are appointed by The Alsop Foundation CIO. Structure. governance and managgmant The IrLJslees who served durin9 the period and up to the date of signature of the financial slalemenls were= Mr P Bull (Appointed 9 March 20201 MrTMay (Appointed 9 March 20201 Mrs K Maunder (Appointed 9 March 20201 Mrs C Jones (Appointed 9 March 20201 Mr P Masher (Appointed 1 September 20211 Mr B Conboy (Appointed 1 April 2021 and resigned 31 August 20211 Mr C Wilson (Appointed 9 March 2020 and resigned 31 March 20211 TheAlsop Foundation is a Charitable Incorporated OrganÈsation founded on 9 March 2020. THE ALSOP FOUNDATION CIO TRUSTEES, REPORT {CONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2021 The Trustees, report was approved by the Board of Trustees. Mr Peter Bull Chalr ol Trustees Mrs Caroline Jones Secretary 28 January 2022 ## **THE ALSOP FOUNDATION CIO** ## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ALSOP FOUNDATION CIO FOR THE PERIOD ENDED 31 MARCH 2021** In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of The Alsop Foundation CIO for the period ended 31 March 2021, 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 https://www.icaew.com/regulation This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 25 January 2022. Our work has been undertaken solely to prepare for your approval the financial statements of The Alsop Foundation CIO 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 Alsop Foundation CIO and the charity's trustees as a body, for our work or for this report. It is your duty to ensure that The Alsop Foundation CIO 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 surplus of The Alsop Foundation CIO. You consider that The Alsop Foundation CIO is exempt from the statutory audit requirement for the period, 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 Alsop Foundation CIO. 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. ## **Jackson Stephen LLP** 31 January 2022 ## **Chartered Accountants** James House Stonecross Business Park Yew Tree Way Warrington Cheshire WA3 3JD -3- THE ALSOP FOUNDATION CIO STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AIARCH 2021 Unrestri¢ted Rgstricted funds funds 2021 2021 Totsl 2021 Notes Donations and legacies 590 3.085 3,675 Charitable activities 18 18 Net income for the periodl Nat movamgnt in funds 572 3,085 3,657 Fund ba18nces at 9 March 2020 Fund balances at 31 March 2021 572 3,085 3.657 The statement of finanaal activities includes all gains an¢J losses recognised in the period. All income and expenditure derive from continuing aclivilie3. ## **THE ALSOP FOUNDATION CIO** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2021**_ ||**2021**|| |---|---|---| |**Notes**|£|£| |**Current assets**||| |Cash at bank and in hand|3,657|| |Net current assets||3,657| |**Income funds**||| |Restricted funds||3,085| |Unrestricted funds||572| |||3,657| |The financial statements were approved by the Trustees on 28January 2022.
Mr Peter Bull
_�_**_.._**_iv_||| |**Trustee**||| -5- THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021 A¢¢ountlng pollclg$ 1.1 A¢¢ountlng ¢onventlon The financial statements have been prepa￿d in accordance wlh the charity's goveming document, the Charities Act 2011 and 'A¢counting and Reporting by Charitie5.' 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 IFRS 1021 (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sleding. which is the funcb'onal currency of the charity. Monetary amounts in these financial stslemenls are rounded to the nearest £. The financial statement5 have been prepared under the historical cost convents'on. The prinapal accounting policies adopted are sel out below. The charity was ineorporaled on 9 March 2020. 1.2 Going concem At the lime of approving the financial slalemenls. the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the ft)reseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial staternents. 1.3 Charitable fund$ Unreslricled funds are available for use at the discretion of the Iruslees in furtherance of their charitable objectives. Restricted funds are subject lo specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. EndowTnent funds are Subject to specific conditions by donors that the capital musl be maintsined by the charity. 1A Income Income is recognised when the charlty is legally enlilled lo k after any performance conditions have been met. the amounts can be measured reliably, and il 15 probable that income will be received. Cash donations are recognised on receipt. Other donatlon$ are recognised once the ¢harity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Grft or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or olherwse if the charity has been notified of an impending dislribulion, the amount 15 known. and receipt is expected. If the amount is not known, the legasy i5 treated as a Conlingenl asset. THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE PERIOD ENDED 31 MARCH 2021 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there Is a legal or constructive obligation lo transfer economic benefit to third party, 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 classified by aclivily. The Costs of each activity are made up of the total ol direct costs and shared costs, including support cos15 involved In undertaking each aclivily. Direct costs attribulatAe lo a single a¢livity are allocated dire¢lty lo that activity- Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single aclivty are apportioned between those activities on basis consistent with the use of re50urces. Cenlpl staff costs are allocated on the basis of time spent, and depreciation charges are allocale