Draft Financial Statements at 02 April 2025 at 14:05:20
Charity Registration No. 1201352
LINGFIELD COLLEGE CRISIS SUPPORT FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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One Bell Lane
Lewes
East Sussex
BN7 1JU
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
CONTENTS
| Page | |
|---|---|
| Company information | 1 |
| Trustees report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
COMPANY INFORMATION
Trustees
Ms A Brassett Mr P Samuels Mr Richard Bool Ms Amira Cooper
(Appointed 12 November 2023)
Charity number 1201352
Independent examiner TC Group One Bell Lane Lewes East Sussex BN7 1JU
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
TRUSTEES REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report and financial statements for the year ended 31 August 2024.
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 governing document, 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)" (effective 1 January 2019).
Objectives and activities
For the public benefit, to provide relief and assistance for pupils who have been displaced due to the war in Ukraine (or any other subsequent crisis). It seeks to financially support them as pupils whilst studying at Lingfield College by defraying the expenses incurred through educational provision, extra-curricular activities, and any such provision as the trustees deem necessary under the circumstances
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
The majority of the donations this year were gifted in lieu of wedding gifts for one of the Trustees.
Financial review
The expenditure has meant that 5 Ukrainian students studying at Lingfield College were able to enjoy trips, uniform, music lessons,transport and other extras like any other student studying at Lingfield College.
Structure, governance and management
The charity was established on 15 December 2022 as a charitable incorporated organisation.
The Trustees who served during the year and up to the date of signature of the financial statements were: Ms A Brassett
Mr P Samuels Mr Richard Bool Ms Amira Cooper (Appointed 12 November 2023)
Recruitment and appointment of trustees
The Charity is required to have a minimum of three Trustees. New Trustees are invited, when appropriate, and following an interview process to join the board after being assessed by the existing Trustees as to their suitability regarding their personal competence, specialist skills, and availability.
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees report was approved by the Board of Trustees.
..............................
Mr P Samuels
Trustee
Date: .............................................
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LINGFIELD COLLEGE CRISIS SUPPORT FUND
I report to the Trustees on my examination of the financial statements of Lingfield College Crisis Support Fund (the charity) for the year ended 31 August 2024.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
TC Group
One Bell Lane Lewes East Sussex BN7 1JU
Dated: .........................
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
| Restricted | Restricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 5,345 | 4,945 |
| Charitable activities | 3 | - | 33,132 |
| Investments | 4 | 75 | 72 |
| Total income | 5,420 | 38,149 | |
| Expenditure on: | |||
| Charitable activities | 5 | 5,175 | 11,563 |
| Total expenditure | 5,175 | 11,563 | |
| Net income and movement in funds | 245 | 26,586 | |
| Reconciliation of funds: | |||
| Fund balances at 1 September 2023 | 26,586 | - | |
| Fund balances at 31 August 2024 | 26,831 | 26,586 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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BALANCE SHEET
AS AT 31 AUGUST 2024
| Notes Current assets Debtors 10 Cash at bank and in hand Net current assets The funds of the charity Restricted income funds 11 |
2024 £ 370 26,461 26,831 |
£ 26,831 26,831 26,831 |
2023 £ 26,586 - 26,586 |
£ 26,586 |
|---|---|---|---|---|
| 26,586 | ||||
| 26,586 |
The financial statements were approved by the Trustees on .........................
.............................. Mr P Samuels
Trustee
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
Charity information
Lingfield College Crisis Support Fund is a Charitable Organisation established by a charitable trust deed dated 15 December 2022. The register charity number is 1201352. The registered address is Lingfield College, Racecourse Road, Lingfield, Surrey, RH7 6PH.
1.1 Reporting period
The previous period was the first year of the charity and was a short period from 15 December 2022 to 31 August 2023. The current year is the year ended 31 August 2024. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.5 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
FOR THE YEAR ENDED 31 AUGUST 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.7 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. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other 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 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.
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
FOR THE YEAR ENDED 31 AUGUST 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Income from donations and legacies
| Restricted | Restricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 5,345 | 4,945 | |
| 3 | Income from charitable activities | ||
| Restricted | Restricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Charitable activities | |||
| Scholarships | - | 33,132 |
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
4 Income from investments
| Restricted | Restricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 75 | 72 |
5 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| activities | activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Trips, uniforms, music lessons and transport costs | 4,450 | 11,563 | |
| Bank charges | 125 | - | |
| 4,575 | 11,563 | ||
| Share of support and governance costs (see note 6) | |||
| Support | 600 | - | |
| 5,175 | 11,563 | ||
| Analysis by fund | |||
| Restricted funds | 5,175 | 11,563 | |
| 6 | Support costs allocated to activities | ||
| Charitable | Total | ||
| activities | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Governance | 600 | - |
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| Amounts falling due within one year: | £ | £ |
| Amount owed by parent undertaking | 370 | 26,586 |
11 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 September 2023 Incoming resources Resources expended At 31 £ £ £ Crisis support fund 26,586 5,420 (5,175) Previous period: At 1 September 2022 Incoming resources Resources expended At 31 £ £ £ Crisis support fund - 38,149 (11,563) |
August 2024 £ 26,831 |
|---|---|
| August 2023 £ 26,586 |
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Draft Financial Statements at 02 April 2025 at 14:05:20 LINGFIELD COLLEGE CRISIS SUPPORT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
11 Restricted funds
(Continued)
The fund is to enable Lingfield College to provide relief and assistance for pupils who have been displaced due to the war in Ukraine (or any other subsequent crisis). It seeks to financially support them as pupils whilst studying at Lingfield College by defraying the expenses incurred through educational provision, extracurricular activities, and any such provision as the trustees deem necessary under the circumstances
12 Analysis of net assets between funds
| Restricted | |
|---|---|
| funds | |
| 2024 | |
| £ | |
| At 31 August 2024: | |
| Current assets/(liabilities) | 26,831 |
| 26,831 | |
| Restricted | |
| funds | |
| 2023 | |
| £ | |
| At 31 August 2023: | |
| Current assets/(liabilities) | 26,586 |
| 26,586 |
13 Related party transactions
There were no disclosable related party transactions during the year.
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