Charity Registration 1201744
Trustees’ Annual Report
6 April 2023 to 5 April 2024
Objectives and Activities
| Summary of the purposes of the charity as set out in its governing document |
To help young people especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society, by making grants and awards in particular but not exclusivelyfor the benefit of students attendingCarrington School,Redhill. |
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| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
We set up theACE Foundationin 2021 knowing many of our young people are facing real barriers to aspiration and self-belief. We want them to have awider range of life experiences in their early teenage yearsto allow them to see the possibilities ofthe world beyond their door, to consider what talent, creativity and energy they themselves have locked inside that they can offer and to build the skill set that we know employers are looking for. Experiencing things that many take for granted - cultural outings like visiting the theatre, museums, sports events and exhibitions, physical activities including sailing and water-sports, group-orientated outdoor adventures such as camping and hiking, opens young peoples' minds to the scope of opportunity out there, and what they have within, so they canbelieve in themselves and begin to aim higher.One key barrier for these young people is funding andwith contributions from local benefactors and businesses, we can make thingspossible that otherwise wouldn't be within theirgrasp. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit. |
The trustees have acted with full regard for the guidance issued by the Charity Commission regarding public benefit. |
Achievements and Performance
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
We have helped many low-income families at Carrington School to afford aspirational experiences for their young people. This includes going on educational trips and excursions, learning to play an instrument, and taking part in schemes such as the Duke of Edinburgh Award. Having these experiences brings our young people from these disadvantaged backgrounds valuable “Cultural Capital” to realise their potential and build skills for the future. These experiences encourage them to aim high and dream big! |
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Financial Review
| Review of the charity’s financial position at the end of the period |
Our finances were robust at the end of the year, as shown in the CC16a Receipts & Payments Account prepared on 8 January 2025. |
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| Statement explaining the policy for holding reserves stating why theyare held |
Reserves are held to cover commitments and potential commitments in the year ahead. |
| Amount of reserves held | On 5 April 2024 the Foundation had reserves of £44,801. |
Structure, Governance and Management
| Type ofgoverningdocument | Trust Deed |
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| How is the charity constituted? | Charitable incorporated organisation (CIO) |
| Trustee selection methods including details of any constitutionalprovisions |
As per the details laid out in the Model Trust Deed (GD2) established on 17 November 2022 |
Reference and Administrative details
| Charityname | A.C.E. Foundation(aspiringCarrington Experiences) |
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| Other name the charityuses | The ACE Foundation |
| Registered charitynumber | 1201744 |
| Charity’s principal address | Carrington School, Noke Drive, Redhill, Surrey, RH1 4AD |
Names of the charity trustees who manage the charity
Name of person (or body) entitled Trustee name Office (if any) Dates acted if not for whole year to appoint trustee (if any) 1 Christopher Pearce 2 Paul Walsh 3 Emma Loughran 4 Kerry Targett Declaration Signature(s) Full name(s) Emma Loughran Date 24 January 2025
Declaration
A.C.E. Foundation 1201744 Receipts and payments accounts CC16a For the period Period start date Period end date To from 06/04/2023 05/04/2024
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ - 72,607 - - - - - - 72,607 - - - 72,607 - 395 225 - - - - - - 620 - - - 620 71,987 - - 71,987 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds to the nearest £ - 72,607 - - - - - - 72,607 - - - 72,607 - 395 225 - - - - - - 620 - - - 620 71,987 |
Total funds to the nearest £ - 72,607 - - - - - - 72,607 - - - 72,607 - 395 225 - - - - - - 620 - - - 620 71,987 |
Last year to the nearest £ |
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| Initial Pledge from P Walsh | 72,607 | - | ||||
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| Sub total(Gross income for AR) |
72,607 | - | ||||
| A2 Asset and investment sales, (see table). |
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| Total receipts A3 Payments |
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| En Route Design & Print,3 Aug | 395 | - | ||||
| Charlotte Earle Singing,9 Feb | 225 | - | ||||
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| **Sub total ** | 620 | - | ||||
| A4 Asset and investment purchases, (see table) |
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| **Sub total ** | - | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
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| 71,987 | - | - | 71,987 |
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| 71,987 | - | - | 71,987 | - |
CCXX R1 accounts (SS)
24/01/2025
1
Section B Statement of assets and liabilities at the end of the period
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Details Details Funds agreed, but not paid over Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ 71,987 - - - - - 71,987 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) 27,186 - - - - Print Name Emma Loughran |
Endowment funds to nearest £ |
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| Endowment funds to nearest £ |
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| Current value (optional) |
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| When due (optional) |
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| Date of approval |
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| Emma Loughran | 08-Jan-25 | ||
CCXX R2 accounts (SS)
24/01/2025
2
Report of the Independent Examiner I report on the financial statements of the ACE Foundation Charity for the year ended 5 April 2024. This report is made solely to the Charity's Twstees, as a body, in accordance with section 145 of the Charitie5 Act 2011. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to arbyone other than the Charity's Trustees as a body, for my work, for this report or for the opinion51 have formed. Respective Responsibilities of Trustees and Examiner The Charity's Trustees are responsible for the preparation of the financial statements. They consider that an audit is not required under sethon 144121 of the Charities Act 2011 Ithe actl and that an independent examination is needed. It is my responsibility to- examine the accounts under section 145 of the 2011 act- follow the procedures laid down in the General Directions given by the Charity Commissioner under section 14515llbl of the 2011 act,. and state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried out irb accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a com parison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent Examiner's Statement In connection with my examination, no matter has come to my attention- al which gives me reasonable cause to believe that in any material respect the requirements- i. to keep accounting records in accordance with section 130 of the 2011 act- and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 act- have not been met; or bl to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr B Stafford 84 Beaumont Road, Purley, CR8 2EG 4 February 2025