THE ALSOP FOUNDATION cio ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 4th April 2024 Charity Registration No. 1188416
THE ALSOP FOUNDATION CIO CONTENTS Page Trustees, Annual Report Independent Examinerfs Report statement of Financial Activities Balance Sheet Notes to the Financial Statements
THE ALSOP FOUNDATION CIO TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 4TH APRIL 2024 The Trustees present their report and financial stalements for the Charitable Incorporated Organisation for the year ended 41h April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial slalemenls and comply with the charily's trust deed, the Charities Act 2011 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) 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 lenable 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 travel 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 the provision of classes on basic numeracy, literacy, and ICT. Public Benefits In considering the objectives and activities, the trustees 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 Alsop Pantry continues to provide one-off emergency food to families in crisis 6 students received The Mike Best Scholarship to study at university Alsop Uniform Store provided students with uniform items and shoes 270 students received the "Gift of Reading" 2 students received financial assistance to attend an international gymnastics event in Amsterdam Funding provided for 10 after school music workshops 10 students given financial assistance to attend the Year 11 Prom Funding received from National Lottery Awards for All facililale activities and celebrations linked to the Coronation of King Charles111 Film narrated and produced with local residents speaking about the Coronation of Charles Financial assistance given to Drama, Art and Technology to enable young people to participate in enrichment activities Facilitated a library event"A Royal Celebration of Reading" with several children's authors Hosted a "Royal Buffet" after schoo5 tea party as a reward for students who volunteer for ommunity events 120 students received a commemoralive tin of biscuits to celebrate the Coronation of King Charles111 240 commemorative mugs distributed to celebrate the Coronation of King Charles111
THE ALSOP FOUNDATION CIO TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 4TH APRIL 2024 Community Celebration Tea organised for local residents to Gelebrate the Coronation of King Charles111 Steering group worked with BCA Landscape to produce a design for "The Sanctuary" community garden FINANCIAL REVIEW Total income for the year was £4,549 (2023= £19,477), ofwhich £NIL (2023.. £13,620) related to funding for projects upon which restrictions are placed. Total expenditure for the year was £13,485 {2023'. £11,150} leaving a deficit for the year of £8,936 (2023- surplus £8,327). At 4th April 2024 the Charitable Incorporated Organisation's reserves stood at £199,975 (2023- £196,067) ofwhich £10,425 {2023- £16,060) represented restricted funds. RISK MANAGEMENT The trustees have assessed the major risks to which the Charitable Incorporated Organisation is exposed and are satisfied those systems are in place lo manage exposure to the major risks RESERVES POLICY It is the policy of the Charitable Incorporated Organisalion to maintain unrestricted funds, which are free reserves at a level to cover minimum of three months, running costs should no further funding be reived. As at the end of the financial year the unrestricted funds totalled £189,550 of which £160.789 is represented by investments leaving surplus free reseNes £28,761 . The Charitable Incorporated Organisation requires, £1,963 for three months, running costs. PLANS FOR THE FUTURE Work to with consultants to produce resources about the legacy of slavery and the challenge of racism Develop and install a Community Garden Continue to provide assistan towards visits and residentials STRUCTURE, GOVERNANCE AND MANAGEMENT The Alsop Foundation CIO is a registered Charitable Incorporated Organisation (CIO), number 1188416 registered on 91h March 2020 under the terms of the Constitution 9th March 2020. Apart from Ihe first charity trustees, every trustee must be appointed for a term of three 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.. la) a copy of the current version of this constitution.. and Ib) 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 4TH APRIL 2024 REFERENCE AND ADMINISTRATIVE DETAILS Name The Alsop Foundation CIO Charlty number 1188416 Address & Office The Alsop High School Queens Drive Walton Liverpool L4 6SH Trustees The members oflhe Board ofTrustees are as follows.. P Bull N Fielding J Kerfoot K Maunder C Jones P Masher {Appoinled 13th December 20231 {Appoinled 3rd June 2024) (Resigned 16th April 2024) Accountant LCVS 151 Dale Street, Liverpool, L2 2AH Bankers Unity Trust Bank PIC Four Brindleyplace Birmingham B12JB Slgned on bèhalf of the Trusteos Peter Bull, Trustee Date
THE ALSOP FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 4TH APRIL 2024 I report on the accounts of the Charitable Incorporated Organisation for the year ended 4th April 2024 which are set out on pages 6 to 16. 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 Act) 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 procedures laid down in the general Directions given by the Charity Commission (under section 145151(b) ofthe 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 the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the acGounts and seeking explanations from Ihe 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. Res ective res onsibilities of trustees and examiner Basis of inde endent examiner's stafement In connection with my examination, no matter has come to my attention.. Inde endent examinerfs statement (1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Act., to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not 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 Ying Huang Relevant professional qualification or body.. ACCA Address.. c/0 LCVS 151 Dale Street, L2 2AH Dated:
THE ALSOP FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 4TH APRIL 2024 Notes Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Income and Endowments from.. Donations and legacies Charitable activities Investments 2,479 2,479 4,790 13,620 1,067 2b 2,070 2,070 Total income 4,549 4,549 19,477 Expenditure on: Charitable activities 7,850 5,635 13,485 11,150 Total expenditure 7,850 5,635 13,485 11,150 Net (ExpenditurellinGome {3,301 } 15,635) (8,936) 8,327 Net gainllLosses) on investments 12,844 12,844 {2,510) Net movement in funds 9,543 (5,635) 3,908 5,817 Total funds brought foTward 9,10 180,007 16,060 196,067 190,250 Total funds carried forward 8 - 10 189,550 10,425 199,975 196,067 The notes on pages 8 10 16 form part of these accounts. All the above amounts relate to continuing activities of the Charitable Incorporated Organisation
THE ALSOP FOUNDATION CIO BALANCE SHEET AS AT 4TH APRIL 2024 Notes 4th April 2024 41h April 2023 Fixed assots Investments 160,789 147,945 Current assets Debtors Cash at bank and in hand 40.921 49,797 40,921 49,797 Current liabilit16S Creditors.. amounts falling due within one year (1,735) 11,6751 N&t current assets 39,186 48.122 Total assets less current liabilitles 199,975 196,067 Funds: Unrestricted funds Restricted funds 189,550 10,425 180,007 16,060 199,975 196,067 Approved by Trustees on . Peter Bull Trustee
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 1. Accounting Policies Basis of Accounting The accounts have been prepared under the hislorical cost convention with items recognised at cost or transaction value unless othenwise staled in the relevant note{s) to these accounts. The financial statements have been prepared in accordance wilh 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 IFRS102) (SORP 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102) and Charities Act 2011. The accounts are prepared in sterling, which is the functional Gurrency ofthe charity. Monelary amounts in these financial statements are rounded to the nearest £. The Charitable Incorporated Organisation has taken advantage ofthe provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At Ihe time of approving the accounts, the Trustees have a reasonable expectation thal the Charitable I ncorporated Organisation has adequate reserves to continue in operational existence for the foreseeable future. The Trustees are confidenl that the 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. Investments Investments held as fixed assets, in accordance with SORP 2019, are stated and included in the balance sheet at their market value at the year end or at the valuation date nearest to the year end. The Statement of Financial Activities includes unrealised gains and losses arising from the revaluation of the investment portfolio. The trustees consider Ihat the cash held as part of the portfolio to be cash at bank, and it is included in the balances at bank. Fund accounting Unrestricted funds are the charitable Incorporated Organisation's free reseNes available for the Trustees to apply in accordan with the Gharilable 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 certainty 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 received, with the exception of known legacies which are accounted for when their receipt is rtain. Income from charitable aclivities is recognised on an accrual's basis except for grants re1Vable. which are recognised on the date on which Iheir unconditional payment is confimied by the donor.
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 Flxed Assets Capital expenditure is treated as a fixed asset and depreciated lo write off each asset over its estimated useful life Expenditure recognition Liabilities are recognised as soon as there is a legal or conslruclive obligation commilting the Charitable Incorporated Organisation to that expenditure, it is probable that settlemenl will be required, and the amount of the obligation can be measured reliably. 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 Aclivities. Support and governance costs are applied to unrestricted funds unless specifically included in the restriclions, as specified by the donor. Expenditure on charitable activities relates to the operation of the charily comprising of direct charitable expenditure to meet the objectives of the Charitable Incorporated Organisation. Support and governance costs relate to the management and operation of the Organisation and also Complian 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 financial 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 effeclive interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounled at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities 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 al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 Derecognition of financlal 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 the 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 sources. 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 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 governance 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 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. Taxation Income and gains are exempt from taxation as they are received 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 lax on income or gains falling within those exemptions. The Charitable Incorporated Organisalion 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 2024 2024 Total Funds 2024 Total Funds 2023 Donations and legacies Donations 2,479 2,479 4,790 Income from donations and legacies for 2023 related wholly lo unrestricted funds. 10
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 Restated Total Funds 2023 UnrestriGted Restricted Funds Funds 2024 2024 Tofal Funds 2024 b. Charitable activities Historic England Mayoral Neighbourhood Fund National Lottery Community Fund 2,000 2,OQO 9,620 13,620 All income from charitable activities in 2023 represents restri¢ted funds. Investment Unrestricted Restricted Funds Funds Total Funds Total Funds 2024 2024 2024 2023 Investments dividends and interest 2,070 2,070 1,067 3. Expendlture on Charitable actlvltles Direct Charitable Expenditure 2024 Support & Governance Costs 2024 Total 2024 Total 2023 Advancing the education of young people by providing mentoring, support, and advice service. 12,351 1,134 13,485 11,150
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 a. as follows.. 2024 2023 Direct charitable expenditure.- Materials Donations Design Costs Food & Food Hampers Travel Expenses Scholarship Fees Clothing Activities Workshops Gifts 3,741 551 1,485 2,486 200 1,700 668 647 200 1,686 1,700 600 6,080 12,351 9,393 Support & Governance GOSts.' Bank Charges Professional fees Stationery Equipment Sundrie5 Accountancy 72 72 480 30 30 280 865 63 129 870 1,134 1,757 Total expendlture on charitable aGtivities 13,485 11,150 £1,240 {2023'. £1,240) of the above expenditure is restricted expenditure 4. Fixed Asset Investments 2024 2023 Quoted Investments Market value at 4th April 2023 Capital Inlroduced Withdrawals Net realised Gainsl{Losses) on investment assets 147,945 150,455 12,844 (2,510) Market Value at 4th April 2024 160,789 147,945 Book Value at 4th April 2024 150,412 150,412 The investment assels are held by The Trustees for Alsop Foundation Purposes. 5. Debtors There were no debtors as at 4th April 2024 (2023.. £nil). 12
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 6. Cash at Bank and in Hand 2024 2023 Evelyn Partners- Income Current Account 2,072 38,849 1,067 48,730 40,921 49,797 7. Creditors: amounts falling due within one year 2024 2023 Accruals 1,735 1,675 8. Analysis of net assets beeen Funds Tangible Investments Fixed Assets Net Current Assets Total 2024 Unrestricted Funds General Fund Fixed Asset Investmenl 28,761 28,761 160,789 160,789 160,789 28,761 189,550 Restricted Funds Historic England National Lottery Community Fund 6,525 3,900 6,525 3,900 10,425 10,425 Totsls 160,789 39,186 199,975 13
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 Tangible Fixed Assets Net Current Asset5 Restated 2023 Investments Total Unrestricted Funds General Fund Fixed Asset Investmenl 32,062 32,062 147,945 147,945 147,945 32,062 180,007 Restricted Funds Historic England Mayoral Neighbourhood Fund National Loltery Community Fund 4,500 2,000 4,500 2,000 9,560 9,560 16,060 16,060 Totals 147,945 48,122 196,067 9. Unrestricted funds Movements in the Year Income Expenditure Revaluation Funds Funds at End 2024 beginning of Year of Year General Fund Fixed Asset Investment 32,062 4,549 (7,8501 28,761 147,945 12,844 160,789 Totals 180,007 4,549 (7,850 12,844 189,550 Movements in the Year InGome Expenditure Revaluation Funds at beginning of Year Funds at End 2023 of Year General Fund Fixed Asset Investment 36,115 5,857 {9,910} 32,062 150.455 {2,510) 147,945 Totals 186,570 5,857 {9,910) {2,510) 180,007
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 General Fund is used to finance the Charitable Incorporated Organisation's general activities and core costs as outlined in the Trustees, Report. Revaluation- representing the changes in valuation of fixed assets and inveslments held by the charity. 10. Restricted funds Movoments in the Year Income Expenditure Funds at beginning of year Funds at end of year 2024 Historic England Mayoral Neighbourhood Fund National Lottery Community Fund 4,500 2,000 9,560 {600} (2,000) (3,035) 3,900 6,525 16,060 15,635) 10,425 Movements in the Year Income Expenditure Funds at beginning of year Funds at end of year Restated 2023 Bauer Radio Cash for Kids Crimebeat Historic England Mayoral Neighbourhood Fund National Lottery Community Fund 530 650 2,500 (530) (650) 2,000 2,000 9,620 2,500 2,000 9,560 (60} 3,680 13,620 11,240) 16,060 These are monies given to the Charitable Incorporated Organisation to be spent at the discretion of the Board of Trustees for specific charitable purposes, as follows.. Bauer Radio Cash for Kids - Contribution towards computers for kids Crimebeat- Contribution towards running costs. Historic England- Contribution towards Slavery Project Mayoral Neighbourhood fund- Contribution towards food hampers, school uniforms & extra-curricular visits National Lottery Community Fund- Conlribution towards community activities to celebrate the coronation of King Charles111 11. Prior Year Adjustment Prior year financial statements have been adjusted to include a correction within the restricted income. There is no impact on the nel movement in funds 12.Guarantees and Other Financlal Commltments There were no financial Gommitmenls falling due as at 4th April 202412023- none)
THE ALSOP FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR YEAR END 4TH APRIL 2024 13.Related Parties There were no material related party transactions during this or the previous year which require disclosure. 16