**The Considered ASK Foundation (A company limited by guarantee)**
## **Audited Financial Statements**
**For the Period Ended 30 April 2022**
Registered Charity No: 1195905 Company No: 13349781
## **The Considered ASK Foundation**
## **(A company limited by guarantee)**
## **Index**
||**Page**|
|---|---|
|Trustees' Report|1-4|
|Balance Sheet|5|
|Statement of Financial Activities|6|
|Cashflow Statement|7|
|Notes to the Financial Statements|8-12|
|Auditors Report|13-15|
**(A company limited by guarantee)**
## **The Considered ASK Foundation**
## **Trustees' Report (including a Directors' Report)**
The Trustees present their annual report and the financial statements of this charitable company for the period ended 30 April 2022.
The financial statements have been prepared in accordance with the accounting policies set out on pages 8 to 12 and comply with the Charities Act 2011, The Statement Recommended Practice applicable to charities preparing their accounts in accordance with the Memorandum and Articles of Association, Accounting and Reporting: Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) published October 2019 and the Companies Act 2006.
## **Legal and Administrative Information**
|**Constitution**|The Considered ASK Foundation is a Company Limited by Guarantee|
|---|---|
||Registered company number 13349781|
||Charity registration number 1195905|
|**Registered Office**|167-169 Great Portland Street|
||London|
||WC2R 0QS|
|**Bankers**|Adam & Co|
||36 St Andrew Square|
||Edinburgh EH2 2YB|
|**Auditors**|Couch Bright King & Co|
||2 Tolherst Court|
||Turkey Mill Business Park|
||Ashford Road|
||Maidstone|
||Kent ME14 5SF|
|**Directors**|Sophie Nicholas Ann Kingsley|
||Anthony John Kingsley|
||Dominic Perks|
||Sarah Matthews|
Dominic Perks became a trustee on 30 November 2021 . Sarah Matthews became a trustee on 17 May 2021. The present trustees have the power to appoint new trustees.
## **Structure, Governance and Management**
The Considered Ask Foundation is a charitable company limited by guarantee. It was originally called The Big Ask Foundation (from 21 April 2021 until 4 July 2022) but by a change of name on 4 July 2022 became The Considered Ask Foundation. It was incorporated on and governed by Articles of Association dated 21 April 2021 as amended by Special Resolution on 11 August 2021 and as amended on 4 July 2022.
None of the Trustees has any beneficial interest in the company.
Each member of the company is required to contribute an amount not exceeding £1 should the company be wound up while he/she is a member, or within one year after he/she ceases to be a member.
The trustees are the members and directors of the company.
The Considered Ask Foundation is registered with the Charity Commission for England and Wales and the date of registration was 23 September 2021.
## **Objectives and Activities of the Charity**
To advance Education and Training in the UK for the public benefit with a particular focus on activities contemplating the reduction of inequality and social disadvantage, by such means as the trustees shall from time to time see fit including through the provision of grants, awards, scholarships and other assistance to individuals and organisations.
To advance health and the relief of sickness for the public benefit, with particular focus on issues connected with mental health and wellbeing, by such means as the trustees see fit.
1
## **The Considered ASK Foundation**
## **(A company limited by guarantee)**
## **Trustees' Report**
## **Objectives and Activities of the Charity (continued)**
To prevent and relieve poverty in the UK by such means as the trustees see fit, including by the provision, directly or indirectly, of grants, items, services and other assistance to individuals and organisations.
To promote the voluntary sector for the public benefit by such means as the trustees think fit.
To further such charitable purposes as the trustees from time to time shall see fit.
## **Grant-Making Policy**
The Considered Ask Foundation provides grants to organisations which advance its charitable purposes of promoting the education, training and mental wellbeing of people of all ages, backgrounds and abilities.
Charities are invited to make an application based on analysis of publicly available information. If they choose to pursue an application they are required to submit a fixed set of documents and attend a formal interview. All potential partners are assessed against a fixed set of criteria (The ASK model). Grants are offered based on the results of this assessment.
The Considered Ask Foundation offers Project, Organisational and Unrestricted Grants based on discussions between potential partners and The Considered ASK Foundation.
Grants made are usually in the region of £10,000-50,000 although they may offer larger amounts at the discretion of the Trustees.
Multi-year grants can be offered at the Trustees' discretion. Partner charities may be invited to reapply for further funding. When deciding whether to offer a grant, Trustees consider the following:
- the amount of the proposed grant
- the proposed use of the grant
- the nature and status of the proposed partner charity
- potential risk factors
- Trustee involvement
- suitability of the proposal
Trustees may impose conditions on grants that are appropriate to the circumstances, including (but not limited to) ongoing performance conditions, reporting requirements, a time frame for use of the grant,
restrictions on varying the purpose of the grant and a requirement that unspent funds should be returned.
No funding is offered to charities operating outside the United Kingdom.
The donation policy has been implemented at regular meetings of the trustees at which the trustees consider applications. The trustees have made grants to the registered charities detailed in note 5 to the financial statements to meet the objectives of the Charity.
## **Appointment of Trustees and charity organisation**
The Charity is managed by the trustees/directors who are appointed under the terms of the trust deed with daily administration for the period of these financial statements being dealt with by a Chief Executive, Mrs Rosie Hoare. Mrs Hoare oversees the day to day activities of the Foundation and remuneration for her services is reflected in the donated services referred to in note 6.
No fundraising was undertaken to support the work of the Charity during this period.
## **Induction and Training of Trustees**
Recruitment of Trustees is carried out through nominations from within the Trustee Board. A skills audit is conducted to assess potential gaps on the board and recruitment is carried out accordingly, with appointments made by a vote of the Trustees. The Board recognises the need to move towards an open recruitment process as the Charity grows.
New Trustees receive an information/induction pack which includes the Charity Commission's detailed information on the Trustee Role and Board.
The Trustees work with a related Charity (The ASK Charitable Trust) and its Trustees in pursuit of their aims and charitable objectives.
2
**(A company limited by guarantee)**
## **The Considered ASK Foundation**
## **Trustees' Report**
## **Public Benefit**
The trustees have ensured that in the future all activities will be for the public benefit.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.
The company has supported a number of charitable organisations during the year. The trustees believe that all donations made are for the public benefit.
## **Financial review and performance**
Incoming resources totalled £2,143,675.42 of which £705,225.00 was committed to charitable activities and the trustees are satisfied with the performance so far.
## **Review of the activities and future developments**
The Trustees will continue to make grants following their half yearly Meetings in June and December. They expect to allocate £350,000 in new grants in June and again in December. In addition, £250,000 has been committed in multi-year grants in June and £115,000 in December.
The Trustees will consider an uplift of 10% to all committed grants to reflect the increased costs of living. The Trustees will continue working to cultivate relationships with potential donors, with a view to onboarding aiming to have 3 or 4 new donors (committing £100,000 a year for a minimum of 3 years) by the end of 2024.
## **Reserves Policy**
It is the Policy of the Company that unrestricted funds which have not been designated for a specific use should be maintained at a level to provide sufficient income for the company to meet its objectives. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the company's current activities while consideration is given to ways in which additional funds may be raised. The trustees intend to maintain a reserve sufficient to cover at a minimum the existing obligations disclosed in creditors amounts due within one year.
## **Risk Management**
The trustees have assessed the major risks to which the company is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Trustees responsibilities in relation to the financial statements**
The trustees, who are also the directors of The Considered Ask Foundation for the purposes of company law, are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare Financial Statements for each year.
Under company law,the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of The Considered Ask's state of affairs and of its income and application of resources, including its income and expenditure for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
3
**The Considered ASK Foundation**
**(A company limited by guarantee)**
## **Trustees' Report**
## **Approval**
This report, which was prepared in accordance with the provisions within Part 15 of the Companies Act 2006 relating to small companies, was approved by the trustees on 23rd February 2023 and signed on their behalf by:
Sophie Kingsley( Trustee)
4
## **The Considered ASK Foundation Company Number 13349781**
## **Balance Sheet as at 30 April 2022**
|**Note**
**Current Assets**
Cash at Bank
**Add:**
**Debtors**
7
**Less:**
**Creditors**
Amounts falling due within one year
8
Net Current Assets
**Creditors**
Amounts falling due after more than one year
8
**Net Assets / Total Assets Less Liabilities**
**Represented by:**
**Charity Funds**
Restricted Fund
Unrestricted Fund
**Total Funds**|_£_
_£_
1,040,010.00
512,056.50
1,552,066.50
271,938.00
1,280,128.50
30,316.00
1,249,812.50
-
1,249,812.50
1,249,812.50
**2022**|_£_
_£_
1,040,010.00
512,056.50
1,552,066.50
271,938.00
1,280,128.50
30,316.00
1,249,812.50
-
1,249,812.50
1,249,812.50
**2022**|
|---|---|---|
|||1,552,066.50
1,280,128.50|
|||30,316.00|
|||1,249,812.50|
|||-
1,249,812.50|
|||1,249,812.50|
The accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the Trustees on 23rd February 2023
Signed on their behalf by
Sophie Kingsley
**Trustee**
5
## **The Considered ASK Foundation**
## **(Including an Income and Expenditure Account) Statement of Financial Activities for the period ended 30 April 2022**
|**Note**
**Income from:**
Donations
4
**Total Income**
**Expenditure**
Expenditure on Charitable Activities
5
Support Costs
6
**Total Expenditure**
Net Income
**Net Movement in Funds**
Net movement of resources in the period
**Fund balances at 30 April 2022**|**2022**
**2022**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**Total Funds**
_£_
_£_
_£_
2,143,675.42
-
2,143,675.42|
|---|---|
||**2,143,675.42**
**-**
**2,143,675.42**
705,225.00
-
705,225.00
188,637.92
-
188,637.92|
||**893,862.92**
**-**
**893,862.92**
1,249,812.50
-
1,249,812.50|
||**1,249,812.50**
**-**
**1,249,812.50**
1,249,812.50
-
1,249,812.50|
||**1,249,812.50**
-
**1,249,812.50**|
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
All income and expenditure derive from continuing activities.
There were no recognised gains or losses other than those listed above and the net income for the period.
6
## **The Considered ASK Foundation**
## **Registered Charity No: 1195905**
## **Company No: 13349781**
## **Cash flow Statement for the period ended 30 April 2022**
||**Note**|**2022**|
|---|---|---|
|||**£**|
|Net cash flows from operating activities|10|1,040,010|
|Net cash flows from investing activities||-|
|Net increase/(decrease) in cash and cash equivalents||1,040,010|
|Cash and cash equivalents at beginning of the period||-|
|Cash and cash equivalents at the end of the period||**1,040,010**|
Cash and cash equivalents comprise cash at bank and in hand.
7
## **The Considered ASK Foundation**
## **Registered Charity No: 1195905**
## **Company No: 13349781**
## **Notes to the Financial Statements for the period ended 30 April 2022**
## **1 General Information**
The Considered Ask is a charitable company governed by its Articles of Association dated 21 April 2021 as amended on 11 August 2021 and 4 July 2022.
Its registered address is 167-169 Great Portland Street London WC2R 0QS (previously 31 Hill Street London W1J 5LS)
It is registered as a charity in England and Wales ( registered number 1195905) and is exempt from taxation on income arising from and expended on its charitable activities.
The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **2 Accounting Policies**
These financial statements have been prepared in accordance with the particular accounting policies described below.
## **(a) Basis of Preparation and Assessment of Going Concern**
The financial statements have been prepared in accordance wit ~~h:~~
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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)( "the Charities SORP") and the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The Charity constitutes a public benefit entity as defined by FRS 102.
The trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future and consider there are no material uncertainties about the Charity's ability to continue as a going concern.
The financial statements are presented in Sterling which is the functional currency of the Charity.
## **Basis of Accounting**
## (b)(i) Income Recognition
All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income tax recoverable in relation to investment income is recognised at the time investment income is receivable.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity.
On receipt, donated services are recognised on the basis of the value of the gift to the Foundation which is the amount the Foundation would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## (ii) Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Grants payable are accounted for when the Trustees have accepted a legal or constructive obligation to make the grant.
All expenditure is accounted for on an accruals basis.
8
## **The Considered ASK Foundation Registered Charity No: 1195905**
## **Company No: 13349781**
## **Notes to the Financial Statements for the period ended 30 April 2022**
## **Basis of Accounting (continued)**
Donations payable are charged in the year when the offer is made except in those cases where the offer is conditional, such donations being recognised as expenditure when the conditions attaching are fulfilled. Donations offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.
Costs are allocated to activities within the Statement of Financial Activities as required by the Charities SORP and are allocated directly to the appropriate activity.
## **(c)Fund Structure**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds (where applicable) comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund will be set out in the notes to the financial statements when applicable.
## **(d)Debtors and creditors receivable/payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **(e)Critical accounting judgements and key sources of estimation uncertainty**
In the application of the Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.
## **(f)Taxation**
The Foundation is a charity and is not liable to corporation tax, capital gains tax or income tax on its charitable activities.
## **3.Trustees and Employees**
The Foundation had no employees during this period.
No trustee received remuneration or expenses during the year. The trustees have purchased indemnity insurance.
9
## **The Considered ASK Foundation**
## **Registered Charity No: 1195905**
## **Company No: 13349781**
## **Notes to the Financial Statements for the period ended 30 April 2022**
|**4. Donations**
Donations and gifts (including Gift Aid)
Donated Services
**5. Expenditure on Charitable Activities**
**Donations to Charitable Institutions**
A Band of Brothers
ABI Billinghurst
Breaking Barriers
Dad's House
Drive Forward
East Side Young Leaders Academy
Envision
Fine Cell Work
Fully Focused
Greater Manchester -GMYN
Khulisa
Literacy Pirates
Making it Out
Moving Memory Dance
My bank
Resurgo Trust
Shannon Trust
Tutors United|**2022**
£
1,962,987.50
180,687.92|
|---|---|
||2,143,675.42|
||**2022**
£
31,800.00|
||53,000.00|
||65,826.00
29,850.00
39,552.00
31,420.00
50,000.00
20,000.00|
||10,000.00|
||49,797.00
68,000.00
50,000.00
25,254.00
30,710.00
29,700.00
50,000.00
40,000.00
30,316.00|
||705,225.00|
The payments to the above charitable organisations were facilitated by The ASK Charitable Trust, a related Charity.
## **6. Support Costs and Donated Services**
The ASK Charitable Trust covered the operational costs of the Foundation totalling £180,687.92, of which £3,751.78 related to Trustee and other business meetings, £6,000 related to Audit fees and £23,504 related to legal and other professional fees by way of donated services.
## **7. Debtors**
|||
|---|---|
|**7. Debtors**
HMRC gift aid reclaim
Other Debtors|**2022**
£
257,502.50
254,554.00|
||512,056.50|
10
## **The Considered ASK Foundation**
## **Registered Charity No: 1195905**
## **Company No: 13349781**
## **Notes to the Financial Statements for the period ended 30 April 2022**
|**8. Creditors**
**Amounts falling due within one year:**
Donations payable
Accruals
**Amounts falling due after one year:**
Donations payable|**2022**
£
263,988.00
7,950.00|
|---|---|
||271,938.00|
||30,316.00|
||30,316.00|
## **9. Funding Commitments**
At 30 April 2022, the Foundation had committed to make the following donations, which are considered a liability:
|**Due within one year:**
Eastside Young Leaders Academy
Resurgo
Khulisa
Shannon
Drive Forward
Envision
**Due after more than one year:**
Tutors United|**2022**
**£**
20,000.00
50,000.00
23,500.00
40,000.00
40,738.00
50,000.00|
|---|---|
||**224,238.00**|
||30,316.00|
||**30,316.00**|
These funding commitments are included in the Creditors balances above with the corresponding annual charge provisions disclosed in Debtors.
As at the period ended 30 April 2022, there were no other funding or capital commitments, contingent liabilities or other financial commitments for which full provision has not been made in these financial statements.
## **10. Reconciliation of net movement in funds to net cashflow from operating activities**
||**2022**|
|---|---|
||£|
|Net income for the period|1,249,812.50|
|Net income before movement in working capital|1,249,812.50|
|Increase in debtors|(512,056.50)|
|Increase in creditors|302,254.00|
|Net cash flows from operating activities|**1,040,010.00**|
11
## **The Considered ASK Foundation**
## **Registered Charity No: 1195905 Company Number: 13349781**
## **Notes to the Financial Statements for the period ended 30 April 2022**
## **11. Analysis of charitable funds**
|**11. Analysis of charitable funds**||
|---|---|
|Analysis of Fund movements
Restricted
Unrestricted|Fund brought
forward
Income
Expenditure
**Fund carried**
**forward at**
**30 April 2022**
£
£
£
£
-
-
-
-
-
2,143,675.42
893,862.92
1,249,812.50|
||-
2,143,675.42
893,862.92
1,249,812.50|
All the Foundation’s funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **12. Related Party Transactions**
Donations of £1,287,512 were received from the Trustees without conditions.
During the period, donations totalling £665,475 were paid out to the charitable organisations in note 5 by The ASK Charitable Trust, a related charity. The ASK Charitable Trust is also currently meeting the operational costs of the Foundation, totalling £180,687.92 for the period, by way of donated services.
Anthony and Sophie Kingsley are also trustees of The ASK Charitable Tust and that was registered as a Charity with the Charity Commission on 13 January 2010.
12
## **Independent auditor's report to the members of The Considered ASK Foundation**
## **Opinion**
We have audited the financial statements of The Considered ASK Foundation for the period ended 30th April 2022 which comprise;
- the statement of financial activities (Incorporating an income and expenditure account);
- the balance sheet;
- the cash flow statement; and
- the related Notes 1 to 12.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 30th April 2022 and of its incoming resources and application of resources; including its income and expenditure, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast sifnificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the trustees' report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the trustees report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
13
## **Independent auditor's report to the members of The Considered ASK Foundation**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
- the trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mlisstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the Trustees' Responsibilities Statement set out on page 3, the Trustees (who are also the directors of the charitable company for the purposes of the company law) are responsible for the preparation of the financial statements and for being satsified that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
We have;
- Obtained an understanding of the legal and regulatory framework applicable to the Foundation and how the Foundation is complying with that framework;
14
## **Independent auditor's report to the members of The Considered ASK Foundation**
- Obtained an understanding of the Foundation's policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;
- Identified the laws and regulations that have signifiance in the context of the Foundation;
- Obtained an understanding of the Foundation's risk assessment process, including the risk of fraud;
- Assesed and evaluated the susceptibility of the Foundation's financial statements to material misstatement, through error and fraud;
- Evaluated the assumptions and judgements used by management within significant accounting estimates and assessed if these indicate evidence of management bias;
- Implemented procedures to enable the identification and testing of unusual or unexpected journal entries;
- Tested significant transactions, in particular the evaluation of the business rationale for any which appear unusual or outside the charitable company's normal course of business;
- Reviewed the financial statements and tested the disclosures against supporting documentation;
- Communicated relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the Foundation and the audit procedures planned to mitigate these.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsbilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Dean R Cates (Senior Statutory Auditor)
Date: 24th February 2023
For and on behalf of Couch Bright King & Co Chartered Accountants & Statutory Auditors 2 Tolherst Court, Turkey Mill Business Park Ashford Road, Maidstone Kent, ME14 5SF
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