AKS LYTHAM FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Compar*y Registration No. CE023995 IEngland and Wales) AKS LYTHAM FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION TTLEStees Mr C R Dickso MT D Cowburn Mr D R Cartmell Ms J Cooper Mr P Owen Charty number 1191646 Company number CE023995 Registered office AKS Lytham Indèpendent School Clifton DrÈve South Lytham Sl Annes Lancashire 81DT Independent examiner Champion Accountsnts LLP Unil 2 Olympi¢ Court INhilehills Business Park Bl3¢kpool Lancashire FY4 5GU AKS LYfHAM FOUNDATION CONTENTS Page Trustees, reporl Independent examinerfs report Statement of financAal activities Balance S￿et Notes lo the fmanclal statements 6-12 AKS LYTHAM FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Thg Iruslees wesenl their annual report attd financial statements for the year ended 31 August 2024. Thè financial slat8tnents have b8en prepèreij in accordance with the accounting policies sel out in note I to the rinancial statements and comply with the charitvs governing documenl the Charities Act 2011 and 'AccoLsnting and Reporting by ChaTilies'. Statement ol Recommended Piact¥¢e applicabl¢ lo charilies preparing Ihetr accounts i accordance with the Financtal Reporting Standard appbcable in the UK and Republic ol Ireland IFRS 1021" leffe￿1ve 1 January 20191. Objectives and activities The objects OF th8 charÉty ar6 to advance the education of boys and girts by way of providing bursary awards subject to parental means testing, thereby widening auess lo AKS School.. and to improve the tnfrastiucture of AKS Lytham or such oth@r 8rea of benefit within which the charity twstees decide lo benefrt. Public benefit The trustees have p8id duo regard to guidance issued by (he Charity Commission in deciding wh81 act*vilies th8 charty should undertake. Activilie5 The ppriod from 1st September 2023 to 31 st August 2024 mat*ed a significanl milestone as the lirsl ftjll year of fundraising activity alÉgned with Ihe Year 2 Oeliveiy Plan of the Fundraising and Engagetnent Strategy. This year saw strong progress in building awareness, cultivating community engagement. and securing financial support tor the f oundaÉion's objectives. A major highlight of the year was Ihe launch of #AKSDonationW8ek24, th8 FoundatÈon'8 inaugural DDnation Week. held from 28th Aprsl to 3rd May 2024. Thls week-lon9 IFlltiatNe was Flltroduced lo showcasE the arnbilions of the AKS Lytham Foundatitin and to inspire collecttvÈ participation. It begat) with the Ch8nge Their World Charity Walk, sgtting the lone for a powerful cafnpaign. The event resorbated widely across the school and broader community, raising an impressive £30,272. Throughout Donation Week, the Developynent Office was heartened lo receive enthusiastic engag8fTTr8nt from alumni and the wider local community. Many individyals reached oul wtth messages of encouragement and made pledges in support of the Bursary Fund, furiher strenglhening our mission lo widen access lo Iransfom)atÉonal educational opportunities. Thanks to the generosity of donor5 thfoughoul the year, the Foundation w85 prtmjd to support its first-evei cohort of fully-funded Iransformational bursary r8cipientg. who joined the Sixth Form in September 2024. This achievement stands as a testament to the collective impact of our ¢ommunEty and marks th8 beginnTrng of a lasting legacy ol life- changing support. Financial review The ch8rity has recewed donations and carried out fund raising events during the yeaT. During the year, Ihree bursaries wwe granted and aft8r minim81 overhead expenditure, the surplus lor the year anKTrunled to £76,41912023'. £57,0411- The reserve5 carried fO￿ard to next year are £133,460 12023.. £57,041), comprlsing ￿n￿striCted funds of £56,035 and reslricteij funds of £77,425. Resenf8s poli¢y It is the policy of the charity Ihat unrestricted funds which have not been desÉgnated for 8 speeilie use should be matntained al a level equlvalent to between three and six month's expenditure. Th8 trus¢88$ consid8r that reserves at this level will ensure that, in th8 8veTIt of 8 Slgnificant drop in funding. Ihey will be able tc* continue Ihe charity's current activities while consideralion is given lo ways in which addilional fund5 tTray b8 raised. This level of reserves has be8n maintained tfirou9hout the year. AKS LYfHAM FOUNDATION TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Plans for fijture periods Ssn￿ its foitnal launch on 5th May 2023, th8 Foundation has raised £142,067.62 which has been allocated to the Change Their World Iransforrnational buTsary furvj. Through the Change Their World ButsaryAppealthe Foundatlon's first goal is lo raise funds for 10 transformational bursaries, allowing talented children from disadvantaged b8ckgrounds the opportunity to join AKS Lytham from Senior School lo Sixth Form (ages 11 to 181. Recognising financial pressures on local disa(fvantaged communities, AKS aims lo Identify talented. local chihyren whose Iwes could be positsvety transformed by accessing education at the school. Alongside the Change Thelr World Bursary Appeal, the Foundation will also communicate with supporteTS its vi510ll to support various facility impFovement5 at AKS as part of a longer-temi strate9y. Slructvre, govÈrnance and management Th8 charty was established on 5 October 2020 and is a charitable incorporated ￿￿aTrisation. To achiev8 th8 objects, nsiderable ineome must be generaled. The charity do8s not itself ralse funds,. rather this is the responsibility of AKS Lythom IAKSI, who will aim to achieve this by generating donations lo the charity from alumni and other supporters of AKS and also seeking grant funding opporiunities. The charity trustees met three times during the year, to receive PTogress reports from AKS on their WOTk to enhanc the development actÉvili85 to deal with statutory matters. Th8 Iruslees who served during the year and up to Ihe dat& of sign2tEJr8 of the financial statements were.. Mr C R Dickson MrPOwe Mr D Cowbum Mr D R Cartrnell Ms J Cooper Recruitment and appoifttment of trustees Generally the trustees are appointed for 2 3 year term, and are selecled wilh regard to the skills, knowledge 8nd 8xperience needed for the effective administralv)n of the charÈty. Tfustees can be reappolnled for a maximum 013 consecutive terms. Non8 of the trustees has any beneficial interest in the comparly. All of th8 tiustees are members ol the company and guarantee lo cgnlribule £1 in the event ol a wtnding up. The trustees. report was approved by the Board of Trustees. Mr C R Dickson TrLEStèt Date.. 13, June 2025 AKS LYTHAM FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AKS LYTHAM FOUNDATION I re￿rt to the Irustees on my examination of the firiar>¢Sal statements of AKS Lwham Foundation Ithe charity) for the year ended 31 August 2024. Re5ponsibiliti85 and basls of report As the trustees ol the d)arily you are r8sponsibl8 fr>r Ihe preparation of the financial statgtnenis iFh accordance with th8 reqvirements DI the Chartties Act 2011. I reporl in Tespe¢l of my examination of the charity's h)ancial statements carried out under section 145 of Ihe Charifles Act 2011. In catryrng out my examin8lion I have ft)Ilowed the Directions given by the Charity Commissii un¢Jer section 145<5llbl of the Chaiities Act 2011. Independent examinerfs statement Your attention is diawn to the lact Ihal the charity has wepared the financial ststements in accordanco with th8 relevanl version of the Slalement of Recofflmended PractSce applicable lo chafities preparÈng their finarKial statemenls ifi accordance with the Financtal Reporiing S12ndard applicabk in the UK and Republic of Iroland IFRS 1021 In preference to th8 Accounling and Reporting by Charities.. Statemenl of Recommend8d Practice issued on l April 2005 which is ￿ferred to in the extant regulations but has now been withdrawn. l und¢r5tand Ihat this has been done in order for the finandal statements to provide a true and fair vi8w in accordance wth UK Generally Acceptod Aocounting Practice_ I have compl8ted my exsmination. I conflrm that no matters hav8 coTn8 to my 8tt8ntion in eonnection with the 8xamirFation givtng me catJse to believe that Iri any matsrial respect.. accounting iecords were I￿1 kept in respect of the charrty as required by sec¢ion 130 01 the Charitles Act 2011. Ihe financial statements do not accord with those records.. or Ihe financial statements do ftot comply with the applicable requirements concerning th8 fo￿￿ and content of financial statements set out in the Gharthes (Accounts and Reports) l£egulations 2008 other thar* any iequirement that the Ilnancial statements give a true arKI fair view, which is not a tnatter considered as part of an independent examination. I havo no conoems and have come across no other matters in conn8clion with the examinatlon tc¢ whlch allenlion should be drawn in th￿ report In order to en8bl8 a proper understsndlng of the financial statements to b8 reached. ChorY4) sC¥l ALCaLLkts￿t1 LLP Champion Accountants LLP Unit 2 Olytnpic Court WhKehills Business Park Blad(pool Lancashire FY4 5GU Dale.. AKS LYTHAM FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unre5tri¢t¢d Rtstricted funds funds 2024 2024 Tot21 Unrestricted R8stricted fLEnds funds 2023 2023 Total 2024 2023 Notès Incom• from: Donations and legactes other trading activities 200 6,271 128.362 128,562 6,271 51,g91 2.905 2.670 54,661 2.905 Total income 6,471 128,362 134.833 54,896 2,670 57,566 Expen(IbluiE DTI- Raising funds Charilable activities 4.026 781 4.026 54.388 525 53.607 525 Toial expenditure 4,807 53,607 58,414 525 525 Net income and movement In funds 1.664 74,755 76.419 54,371 2.670 57.041 Reconciliation of fund5= Fur>d balances at 1 September 2023 54,371 2,670 57.041 Fund balances at 31 August 2024 56,035 77,425 133,460 54.371 2,670 57,041 The statement of financial 8ctiiryti8s includes all gains and losses rewgfkised in the year. All incorne and exp8nditure deitvè from continuing activ¢ties. AKS LYTHAM FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notès Current assets Debtot5 Cash at bank and in hand 12 8.797 125.269 3,517 53,914 134,066 57.431 Creditors.- amounts falling due within onp year 13 16061 13901 Net current assots 133,460 57,041 The funds Df the charity Restricted income funds U￿reStr￿e￿ funds 14 15 77.425 56.035 2,670 54,371 133.460 57,041 Th8 financial 5tal¢ments were approved by the trustees on .12"..￿ne.202S. Mr C R Dick50n Trustee AKS LYTHAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcl&s Charity information AKS Lytharn Foundation 15 a charitable incorporated Organisa￿n. 1.1 Accounting convention The financtal statefflents havB been prepared in accL>rdancp with the charitvs governing document, Ihe Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the iIK and Republic of Ireland and the ChaTlties SORP "Accounling and Reporting by Gharities.- Statement of Recommended Practice applKabSe lo eh81ilies prepartng Iheii account5 in accordance with the Financial Reportln9 Standled at 8 maTket Tate of interest. Financtal li3bilities classifEd a5 payabte thirE one year ale not amortlsed. Debt instruments are subsequently carried al amcFrlised cost, using th8 effective inlgresl rale welhod. Trade creditors are obligation5 to pay for goods or servlces Ihat have been acquired in the ordinary course of operations trom supplrers. Amounts payablg arè classified as current liabilities if paytnent is due within one year or less. If not. they are presented as nonn$ and giants which af8 not gubiect to speeifie conditions by donors and grantors as to how they may be used. These include d¢signated lunds wh￿h have been sel aside out of Un￿StriC1ed funds by Ihe tTUStees ft)r specific purpos8S. At1 September 2023 Incomlng re50uice5 Resources At 31 August expended 2024 General funds 54,371 6,471 14,8071 56,035 PrgÉTiOUS year: Atl Seplember 2022 Incoming resource5 Resources At 31 August expended 2023 G8n8ral funds 54.896 15251 54,371 16 AnaFysis of net assets between fund5 Unrestricted fvnds 2024 Restrlcted funds 2024 Total 2024 At 31 AugLESt 2024.. CurTenl assetsllliabililiesl 56,035 77.425 133.460 56,035 77,425 133,460 AKS LYfHAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Analysis of net assets between funds (Continuedl Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 August 2023= Current assetsllliabililiesl 54,371 2,670 57.041 54,371 2,670 57,041 17 Related party transactions There were disclosable related patty trsn58ctions dvring tho year12023- none). 12-