THE ALSOP FOUNDATION cio ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 Charity Registration No. 1188416
THE ALSOP FOUNDATION CIO CONTENTS Page Trustees, Annual Report Independent Examiner's Report Statement of Financial Activilies Balance Sheet Notes to the Financial Statements
THE ALSOP FOUNDATION CIO TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022 The Trustees present their report and financial statements for the Charitable Incorporated Organisation for the year ended 31st March 2022. 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 charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) OBJECTIVES AND ACTIVITIES To advance the education of the pupils at Alsop High School, by providing and assisting in the provision of facilities not required to be provided by the local education authority for education at the school. Awarding scholarships, Maintenance allowances or grants tenable at any university, college, or institution of higher or further education andlor providing their education (including the study of music or other arts) to undertake Iravel in furtherance of that education, or to prepare for entry to any occupation, trade or profession on leaving the educational establishment. To advance the education of pupils, their parents andlor guardians, including by Ihe provision of classes on basic numeracy, literacy, and ICT. Public Benefits In considering the objectives and aotivities, the trust&s have considered Charity Commission guidance on public benefit to ensure that the organisation is meeting its public benefit requirements. ACHIEVEMENTS AND PERFORMANCE 240 Christmas Food Hampers distributed to Alsop families facing financial hardship. Two laptop computers purchased for students to assist with home leaming and homework Community Garden Appeal launched to create a "Sanctuary" within the school grounds. FINANCIAL REVIEW Total income for the year was £43,827 (2021: £3.675), of which £7.740 (2021: £2,500) related to funding for projects upon which restrictions are placed. Total expenditure for the year was £9,113 {2021'. £18) leaving a surplus for the year of £34,714 {2021: surplus £3,657). At 31st March 2022 the Charttable Incorporated Organisation's reserves stood at £38,371 (2021.. £3,657) of which £4,680 (2021- £2,500) represented restricted funds. RISK MANAGEMENT The trustees have assessed the major risks to which the Charilable Incorporated Organisation is exposed and are satisfied those systems are in pla to manage exposure to the major risks
THE ALSOP FOUNDATION CIO TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022 RESERVES POLICY It is the policy of the Charitable Incorporaled Organisation to maintain unrestricted funds, which are free reserves at a level to cover a redundancy provision and minimum of three months, running costs should no further funding be received. As at the end of the financial year the unrestricted funds totalled £33,691. The Charitable Incorporated Organisation requires £nil for redundancy provision, £2,665 for three months, running costs. (total £2,665}. PLANS FOR THE FUTURE Create and offer scholarships to Alsop students entering higher education. Develop the Community Garden Provide assistance lowards visits and residentials. Offer support to parents needing school uniforms. Initiate the Gift of Reading for students at Alsop High School STRUCTURE, GOVERNANCE AND MANAGEMENT The Alsop Foundation CIO is a registered Charitable Incorporated Organisation (CIO). number 1188416 registered on 9th March 2020 under the terms of the Constitution 9th March 2020. Apart from the first charity trustees, every trustee must be appointed for a term of Ihree years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The charity trustees will make available to each new charity trustee, on or before his or her first appointment: {a) a copy of the Current version of this constitution., and (b) a copy of the CIO'S latest Trustees, Annual Report and statement of accounts.
THE ALSOP FOUNDATION CIO TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2022 REFERENCE AND ADMINISTRATIVE DETAILS Name The Alsop Foundation CIO 1188416 Charity number Addre$$ & Offlce The Alsop Hlgh School Queens DTtve Wa51on Liverpool L48SH Trustses The membgrs of the Board of Trustees are as follows: Mr P Bull MrTMay Mrs K Maunder Mrs C Jones Mr P Masher C Wilson B Conboy {Appolnled September 2021) {Reslgned March 2021) {Reslgned Septembgr 2021} Independent Examlner Paula Sanchez, ACCA clo LCVS 151 Dale Slreet. LlveTPOOI. L2 2AH Unlty Trust Bank PIC Four Brindleyplace Birmingham B12JB Bankers d on behalf of the Trustees Peter Bull, Tru$tge Date
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ALSOP FOUNDATION CIO I report on the accounts of the Charitable Incorporated Organisation for the year ended 31st March 2022 which are set out on pages 6 to 14. Res ective res onsibijities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Acl> and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the prOdureS laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether particular matters have come to my attention. My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by Ihe charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view, and the report is limited to those matters set out in the statement below. Basis of inde endent examinerfs statement In Connection with my examination, no matter has come to my attention.. Inde endent examinels statement (1} which gives me reasonable cause to believe that in any material respect the requiremenls.. to keep accounting records in accordance with section 130 of the Charities Act., to prepare accounts which accord with the accounling records and comply with the accounting requirements of the Charities Act have nol been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Mrs Paula Sanchez Relevant professional qualification or body- ACCA Address.. clo LCVS 151 Dale Street, L2 2AH Dated. ..3.1 St
THE ALSOP FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31SY MARCH 2022 Notes Unrestricted Restricted Funds Funds 2022 2022 Total Funds 2022 Total Funds 2021 Income and Endowments Donations and legacies Charitable activities Other income 5,416 5,416 7,740 30,671 1,175 2,500 2b 2d 7.740 30,671 Total income 36,087 7,740 43.827 3,675 Expenditure on: Charitable activities 2.553 6,560 9,113 18 Total expenditure 2,553 6,560 9,113 18 Net income, net movement in funds 33,534 1,180 34,714 3,657 Total funds brought fowatd 1,157 2,500 3,657 Total funds carried fOnard 34,691 3,680 38,371 3,675 The notes on pages 8 to 14 fomi part of these accounts. All the above amounts relate to continuing activities of the Charitable Incorporated Organisalion
THE ALSOP FOUNDATION CIO BALANCE SHEET AS AT 31ST fvNRCH 2022 Notes Restated 315t March 2021 315E March 2022 Fixed assets Tangible fixed assets Current assets Debtors Cash al bank and in hand 39,181 3,657 39.181 3,657 Current liabilities Creditors- amounts falling due within one year (810) Net current assets 38,371 3,657 Total assets less current liabilities 38,371 3,657 Funds: Unrestricted funds Restricted funds 34,691 3,680 1,157 2,500 38,371 3,657 Approved by Trustees on .. P6ter Bull, T
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31Sf MARCH 2022 1. Accounting Policies Basis of Accounting The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless othewise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} (SORP 2019) and the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS102) and Charities AGt 2011. The accounts are prepared in sterling, which is the functional currency ofthe charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charitable Incorporated Organisation 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. Going concern At the time of approving the accounts. the Trustees have a reasonable expectation that the Charitable Incorporated Organisation has adequate reserves to continue in operational existence for the foreseeable future. The Trustees are confident that Ihe levels of liquidity and free reserves will not affect the Charitable Incorporated Organisation operations. Thus. the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. Fund accounting Unrestricted funds are the charitable Incorporated Organisation's free reserves available for the Trustees to apply in accordance with the charitable objects. Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund. Income recognition All income is recognised once the Charitable Incorporated Organisation has entitlement to the income, there is sufficient certainly of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations and legacies comprise donations which are recognised in the accounts when reived, with the exception of known legacies which are accounted for when their receipt is certain. Income from charilable activities is recognised on an accrual's basis expt for grants receivable, which are recognised on the date on which their unconditional payment is confirmed by the donor. Fixed Assets Capital expenditure is treated as a fixed asset and depreciated to write off each asset over its estimated useful life Expenditure recognits'on Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charitable Incorporated Organisation to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATElblENTS FOR YEAR END 31ST MARCH 2022 All expenditure is accounted for on an accrual basis. All expenses, including support cosls and govemance costs, are allocated or apportioned to the applicable expendilure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Expenditure on charitable activities relates to the operation of the charity comprising of direct charitable expenditure to meet the objectives of Ihe Charitable Incorporated Organisation. Support and governance costs relate to the management and operation of the Organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. 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. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the fi'nancial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabililies Basic financial liabilities, including creditors and bank loans are initially recognised at Iransaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cosl, using the effective interest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of Ihe charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31ST IblARCH 2022 The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. All expenditure is accounted for on an accrual basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governan costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Cost of charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charity. Support and g0Veman costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Taxation Income and gains are exempt from taxation as they are reiVed and applied for charitable purposes only. The Charitable Incorporated Organisation benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The Charitable Incorporated Organisation is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 2. Income and endowments from: Unrestricted Restricted Funds Funds 2022 2022 Total Funds 2022 Totsl Funds 2021 a. Donations and legacies Donations 5,416 5,416 1,175 Income from donations and legacies for 2021 related wholly to unrestricted funds. Unrestricted Restricted Funds Funds 2022 2022 Total Funds 2022 Total Funds 2021 b. Charitable activities Bauer Radio Cash for Kids Crimebeat Community Foundation Lancashire Historic England Liverpool City Council Steve Morgan Foundation 1,120 650 470 2,500 3,000 1,120 650 470 2,500 3,000 2,500 7,740 7,740 2,500 Income from charitable activities in 2021 comprised £nil for unrestricted funds and £2,500 related to restricted funds. io
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31ST MARCH 2022 Total Funds 2022 Unrestricted Restricted Fund5 Funds 2022 2022 Total Funds 2021 c. Other income Tilney Investment 30,671 30,671 30,671 30,671 3. Expendlture on Charitable activities Direct Support & Charitable Governance Expenditure Costs 2022 2022 Total 2022 Total 2021 Advancing Ihe education of young people by providing mentoring, support, and advice service. 6,731 2,382 9,113 18 a. analysed as follows.. 2022 2021 DireGt charitable expenditure.. Materials Donations Travel Expenses 4,672 1,590 469 6,731 2022 2021 Support & Govemance costs." Bank Charges Accountancy 72 2,310 18 2,382 18 Total expenditure on charitable activitles 9,113 18 £6,560 (2021: nil) of the above expenditure is restricted expenditure 4. Tangible fixed assets No tangible assets we acquired or committed for during this financial year. 5. Debtors There were no debtors as at 31st March 2022 (2021- £nil).
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31ST MARCH 2022 6. Creditors: amounts falling due within one year 2022 2021 Accruals 810 7. Analysis of net assets between Funds Tangible Fixed Assets Net Current Assets Total 2022 Unrestricted Funds General Fund Tilney Investment 4,020 30,671 4,020 30,671 34,691 34,691 Restricted Funds Bauer Radio Cash for Krds Crimebeat Historic England 530 650 2,500 530 650 2,500 3.680 3,680 Totals 38,371 38,371 Tangible Net Fixed Current Assets Assets Total 2021 Unrestricted Funds General Fund 1,157 1,157 Restricted Funds steve Morgan Foundation 2,500 2,500 2,500 2,500 Totals 3,657 3,657 12
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31ST MARCH 2022 8. Unrestricted funds Movements in the Year Income Expenditure Funds at beginning of Year Funds at End of Year 2022 General Fund Tilney Investment 1,157 5,416 30,671 (2,553) 4,020 30,671 Totsls 4,157 36,087 (2.553) 34,691 ovements in the Year Funds Income Expenditure at beginning of Year Funds at End of Year 2021 General Fund 1,175 (18) 1.157 General Fund is used to finance the Charitable Incorporated Organisation's general activities and core costs as outlined in the Trustees, Report. 9. Restricted funds Movements in the Year Funds Income Expenditure at beginning of year Funds at end of year 2021 Bauer Radio Cash for Kids Crimebeat Community Foundation Lancashire Historic England Liverpool City Council Steve Morgan Foundation 1,120 650 470 2,500 3,000 (590) 530 650 {470) 2,500 (3,000) (2,500) 2.500 2,500 7,740 (6,5601 3.680 Movements in the Year Funds Income Expenditure at beginning of year Funds at end of year 2021 steve Morgan Foundation 2,500 2,500 2,500 2,500 13
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 31ST MARCH 2022 These are rnonies given to the Charttable IrFcorporated Organisation to be spent at the discretion of the Board of Trustees for specific charitable purposes, as follows: Liverpool City Council- Contribution towards School Uniforms and Food Hampers Community Foundation Lanca5hire- Contribution towards Travel Costs Historic England- Contribution towards Slavery Project Crimebeat- Contribution towards running costs. Bauer Radio Cash for Kids - Contribution towards computers for kids Steve Morgan Foundatlon - Contribution towards Food Hampers 10. Guarantees and Other Financial Commitments There were no financial commitments falling due as at 315t March 2022 {2021- none) 11. Related Parties There were no material related party transactions during this or the previous year which require disclosure. 14-