Our refr. DBIJD fw I￿rtered 22 May 2025 Mccabe Fordwilliar k C￿￿be 61 HI￿ Street Cranb￿k TN173EG Private and Confidential Mr C Hobday The Trustees Office Dunk's Almshouse Rye Roid Hawkhurst Kent TN184HF Td 015W714111 mfw£tsuk Dear Colin Dunks. Educational Foundation Further to our email correspondenc< I r￿W enclose a copy of the accounts for the year ended 31 Decernber 2024. If these are approved by the trust￿ would y¢)u please arrange for the trustees to sign and dare page three and six and return to me. I will then forward the bouwHI copy with the indepa)dent examiner's report duly signed. so enclosed is a letter of representation from the trustees to ourselves. Thrs 15 a standard letter which sets out those Mat￿rS relating to our preparation of your accounts on which we have to rely on representations and confirmauons by the trust￿ If the trustees are happy with the contents of the let￿ this should be electronically approved. Please let me know if you haye any querie Yours sincer Encl. ICAEW CHARTERED ACCOUNTANTS ICAEW ACCREDITED FOR PftOBATE DUNK'S EDUCATIONAL FOUNDATION A CHARITABLE INCORPORATED ORGANISATION CHARITABLE REGISTRATION NO 1204336 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2024 DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organisation (Charitable Registration No 1204336) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2024 INDEX PAGE Legal and Administrative Infonnation Trustees. Report Independent Examiners Report Statement of Financial Attivities Balance Sheet Notes ro the Financial St?￿rnents DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organisation Legal and Administrative Information Trustees Following a resolution dated 23 April 2013 the intrntion is for there to be eleven trustees who are also the Trustee5 of Dunk's Almshouse Chartry. The Trustees who have Se￿ed during the year v￿r Mr N Collison Mrs S Cornish Mrs J Faulkner Mr C Faulkner Miss E C Roberts Mrs G Cannon Mrs H E V2n Kan Mr C C Hobjay Representative and Chairman Representative Co-optative Co-oprative Co-oprative Representsuve Representstive Representative Treasurer Principal Office Clerk to Trustee5 Mrs L Panting & Miss M Sandys Dunk5 OFfice Flat 5 Dunks Almshouses Hawkhurst KentTN18 4HF Bankers rclays Bank PIC Ashford Brtnch 66 High Street Ashford Kent TN24 8TL Solicitor Buss Murton LLP Clermont House Independent Examiner Mccabe Ford Williams Bank Chambers 61 High Street Cranbrook Kent TN173EG CRANBROOK Kent TN173DN DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organisation Trustees. Report Incorporation As A Charitable Incorporated Organisation A rbew Charitable Incorpornced Organisation, Dunk's Educational Foundation ￿as registered on 14 August 2023. A resolution wa5 passed on 3 August 2023 thac all the property and assets of the Dunk's and Springetc's Educational Foundarion (Charitable Registration No 307664) were to be transferred to the newly fornied Charirnble Incorporated Organi5ation. Dunk's Educational Foundation (Charitable Registrntion No 1204336). This transfer took place on 14 August 2023. The accounts for the previous year y￿re prepared as merger accounts. Object of the Charity The object of the Charity 15 promoting the educdtion (including Social and physical trdining) of children and young persons under the age of 25 years who are resident in the area of the Ancient Parish of Ha¥vkhursL The Charity is governed by a scheme dated 12 July 1927 as amended by a scheme dated 22 March 1982 and a resolution of the Trustees dated 9 April 1997 under settion 7412} (cl of the Charities Act 1993. The Charity w75 originally two separnte charitie5 esr2bli5hed by the Charity Commission in 1904. One of these wa5 Dunk's Educational Foundation, which had formerly been parc of Dunk's Almshouse Chariry. and the other was Springett's EdU￿tiOnal Donation. The Governing Document used at establishment of the Chariry has been carried acros5 on the formatyon of the Charitable Incorporated Organisation on 14 August 2023. Organisation The Trustees who seryed during the year are set out on page one. The Representative Trustees are appointed by the Parish Council and the Co-OPtauve Trustees are people residing or carrying on a business in or near the P￿iSh of HawkhursL The trustees meet quarterty. Reserves Policy It is the policy of the charity to maintain unrestricted funds which are the free reserves of the charity, at a level that equates to approximately six months unrestr1c￿d expenditure. This provide5 sufficient fvnd5 to cover managernent and adminÈstrathon costs and to respond to emergenLy appltcations for grants. Unrestricted funds were maintained at this level throughout the year. Risk Management The Trustees have assessed the major risks to which the chari(y is exposed. in parcicular those relating to its investments. operntions and finances of the charity and are satisfied that systems are in place to mitigate their exposure to the major risks. Investments The units in the COIF income shares have increased by 2.3%12023 increase of 9.2%) this year. The Truttees will continue to monitor their investment str2teg/. They rer2in their confidence in the long term benefits of equiry investment and have decided to keep the maionry of the investment5 in COIF. Pdge 2 DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organisation Trustees, Report - continued Public Benefit The trust*s confirm that they have referred to the 8uidince conrained in the Charity Commission's general guidance on public iEnefit when reviewing the Trust's aims and objectives and in planning fijture acttviue& Statement of Trustee5' Responsibilities Charity law requires the Trustees ro prepare financial statements for each financial year which give a true and fair view of the affairs of the Chariw and of its financial accivities for that period. In preparing those financial statements. the Trustees ¥e required to.. - a) select suitable acc(xsntyng FA)liae5 arbd apply those policies consis￿ntIr. b) make judgemenr5 and esrirryate5 that are reasonable and pruden¢ c) ststs whether applicable accounung standards and statements of recommended prnctice have been followed subject to any dewrtures disclosed and explained in the financial statements", d) prepare the financial ststements on the going concern basis unless It is inappropriate to presume that the charity will continue in oper&tton. The Trustees are responsible for keeping proper accounting records which disc195e with reasonable accurdcy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply wrth the relewant provr5ions of the Charities Act 201 l. They are a150 responsible for safeguarding the assets of the charity and. henc4 for raking reasonable 5￿p5 for the prevention and detection of fraud and other irregulariues. Review of the Year Dunk's Education Foundauon held a gcod and stable financial tK)sition throughout 2024. This as despite rising utiliry costs and ongoing maintsnance of the residential properrie5, school hall and communal areas. In June 2024 Dunk'5 held a 31￿ year cdebraoon aimed at raising the Dunk's profile and generating fund5 for the education chary. This has raised the Dunk's Educ2tion21 Foundation balance by approximxtety £3.000. Trustee Nigel Collison Trustee Colin Hobday DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organi5ation Independent Examinees Report to the Trustees of the DUNK'S EDUCATIONAL FOUNDATION We report on the accounrs of the Trust for the year ermled 31 December 2024, which are set out on pages I to 8. Respective responsibilities of trustees and e￿Miner A5 the chariry's trustees you are responsible for the prepardtion of the accounts,. you consider that the audit requirement of section 544 of the Chartues Act 2011 {the Act) does not apply. It s my responsibiltty to examine the accounrs (under 5ectton 145 of the 2011 Ac¢ co follow procedures laid down in the General Diretttons given by the Charity Commissioners under section 14515)Ib) of the 201 l Att and to sr2te whether p2rticutar rnatTrrs have come to our attention. Basis of independent examinerfs report My examination w35 carried out in accordance with the Gener21 Directions given by the Charity Commissioners. An examination includes a re￿eW of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also includes considerdtion of any unusual items or disclosure5 in the accounrs and 5eelung explanations from you as trustees concerning any such matters. The procedures undertaken do not provide 211 the evidence that would be required in an audiL and consequentfy we do not express an audit opinion on the view wven by the accounts. Independent examinees statement In connection v*ith my examination. no matter has come to our attention: { l ) which wves me reasonable cause to believe that in any ma￿rIal respett the requirements • to keep accounting records in accordance with sectyon 130 of the ACL and to Prepa￿ accounts which accord wth the accounting records and to comply with the accounting requirements of the Act have noi been mel or {2) to which. in my opinion, atLention should k drnwn in order to enable a proper understanding of the accounts to be reached. D Boobbyer Mccabe Ford William5 Chartered Accountant Bank Chambers High Street Cranbrook Kent TN17 3EG Page 4 Dunk'5 Educational Foundation Statement of Financial Activities For the Yèar Ended 31 December 2024 Pernianent Endowment Extrnonlinary General Fund Repair Fund Fund Total Total 31.12.24 31.12.23 Incoming Resources Rent reteiwable 12.514 4,055 1.049 843 12.514 4,055 1.049 843 9.959 4,071 859 831 Hall lettings Inreresr Dividends Donacions Gr3nts 5.673 5.673 470 Misc Incorne Total Incoming Resour 24.133 24.133 16,190 Resources Used Dlrect Charitable Expendlture Educaciond endov*Tnetkts Donatsor5 5.400 5.41 063 Administrntion Rates Water 124 183 103 149 cycli￿ rnaintenan Electricity 1706 754 2.706 754 3.591 1305 631 Insurance 571 571 Cleaning Audit and iccountsncy Clerk's fees Office cosrs 505 505 185 596 596 4,358 1,092 1,222 4,358 1.092 1,222 4,537 932 Profe$5ional f 1.500 Total Resources Used 17.511 17,51 19.974 Net Incominzl(Ou¢zoittg)Resources before transfers 622 6.622 {3.784) Gainsllosses} on investments 373 311 684 1548 Net Intoming l{outZoing)rt￿Urt*S for the year 373 6,933 7.306 (1,236) Balances brought foThrnrd at O I january 2024 17.017 1.018 41,208 59,243 60.479 Balances carried forward at 31 Decernber 2023 17.390 1,018 48,141 60,549 59.243 Dunles Educational Foundation Balance Sheet As at 31 December 2024 Pernianent Endovmient Extraordinary General Totsl Fund Repair Fund Fund 31.12.24 Total 31.12.23 Note Investments 16,877 14,082 30.959 30.275 Current Ass¢ts COIF deposii Birclays current #c¢ount Debtors 513 1,018 19,985 17.662 21,516 17.602 20,467 lic 513 1.018 37,647 39.178 33.591 Current Liabilities Creditor5 3,518 3,588 4,622 Net Current Assets 513 1.018 34.060 35,590 28,968 Net Assets 17.390 1.018 48.141 66.549 59.243 Funds Endowrnent Fund 17,390 17,390 1.018 48.141 17,017 1.018 41.208 Extraordinary Repir Fund General Fund 1.018 48.141 17.390 1.018 da.141 60.549 59.243 The financial ststements been prepared ITr acc¢Ydance the requirem*)rs of FRS 102 and the Ststemenr of Fiecommended Practic< AccoLtnDng and Reporung by Chatitie Accounting and Reporting by Ch￿￿￿e%. Approved by the Trustees Signed Nigel Collison Signed Colin Hobday Dated: Page 6 DUNK'S EDUCATIONAL FOUNDATION Notes to the Financial Statements for the y&v ended 31 December 2024 I. ACCOUNTING POLICIES Basi5 of Preparation The accounts are prepared in accordance wth the provisions of Section IA "Small Entities" of Financial Reporting Stxndard 102 "The Financial Reporting Sr2ndard applicable in the UK and Republic of Ireland" and the 5utement of Recommended Pta¢rice "Accounting and Reporung by Charityes" 2015. They have been prepared under the historical cost convention except for invesrment& which are carried at market valu The accounts are stated in £. Merger Accounting A new Charitable Incorporated Organisation, Dunk's Educational Foundation Wds registered on 14 August 2023. A resoluuon Yras passed on 3 Augusi 2023 Ihat all the property and assets of the Dunk's 2nd Springett's Educarion21 Foundation (Charir2ble Rewstration No 307664} were to be transferred to the nevAy formed Charittble Incorporated Organisation, Dunk's Educ2tion31 Foundation (Chariuble Rwstrntion No 1204336). This transfer took place on 14 Au8USt 2023. The accounts for the preyious year were prepared as merger accounts. Fund Accounting The Chiriry's Pern12nent Endowment Fund comprises the investment referred to below. The COIF shares were purchased the proceeds ol land sold to Dunk's Almshouse Charity during 1998 in connecuon with the erection of 4 new almshouses. The sale vns approved by the Charity Commissioner The Extraordinary Repair Fund is a fund designated by the charity to provide for fLtture major works, improvements and repl3￿ment exFenditur Fixed Assets No value is included for the Charity's share of the original land and buildings bequeathed to Dunk's Almshouse Chariry. Going concern The trustees consider that there is no material un￿rtai￿rY relating to going concern and corksider that the Chartty is tn 2 position to meet its financial obligations as they fall due. Page 7 DUNK'S EDUCATIONAL FOUNDATION Notes to the Financial Statements for the year ended 31 December 2024 2. INVESTMENTS Endowment Fund 31.12.23 31.12.23 831.66 COIF Income Units £16.877 £16,504 Genernl Fund 693.921 COIF Income Units £14.082 £13,771 3. RELATED PARTY TRANSACTIONS Dunk's Almshouse Charity {Chariry Number 240563) is under the control of the same Committee of Trusiees. During the year. Dunk's Educational Foundauon charged Dunk, Almshouse Charity £12.514 in rent for 3 flats (2023: £9.959). In addition, some charges made to Dunk's Almshouse Charity are recharged to Dunk's Educational Foundation. At the year end Dunk's Eduorional Foundation owed £3,038 (2023: £3.769) to Dunk's Almshouse Charity 4. TRUSTEE REMUNERATION AND EXPENSES No trustee5 have been paid remuneration or ex￿n$¢8 during the year. Page 8 DUNK'S EDUCATIONAL FOUNDATION A Charitable Incorporated Organi$atio Dunk's Offiee Flat 5. Dunk's Almshouses Rye Rogd Hawkhurst Kellt RegEs¢ered Cbarity llutnber 1204336 Mccabe Ford Williams Bank Chambers 61 High Street Cranbrook Kent TN17 3EG 22 May 2025 Dear Sirs We confirni to the best of our knowledge and belief. and having made appropriate enquiries of other trustees and officia15 of the charity, the following representations given to you in connect¥on with your independent examination of the charity'5 financial sratemenES for the year ended 31 Decernber 2024. General We acknowledge as trusteès our responsibility under the Charities Aa 2011 for the financial statements which give a true and [￿"r view and for making accura￿ representttions to you. All the accounting ords have been made available to you for the purpose of your tudit and the transacuons undertaken by the charity have been property refjected and recorded in the accounting records. All other words and related information. including minures of Managem￿)¢ meeungs. have been rnade available to yo The fina￿la1 statement5 are free of rnaterial misstatemenrs including omisworL We believe that the effett of uncorrected MISSta￿m9)ts is Immateri￿ both individually and in totsl. Internal control We acknowledge our responsibility for the design and implementation of intsrnal Control 5y5tems to prevent and detert fraud 2nd error. We have dFsd05ed to you the results of our risk assessment that the financial statements may be misstated a5 a re5ulc of fraud. There have been no irregularicies lor allegitions of irregulariues) invo￿"n8 fflanègemenL employees who have a significant role in internal control or other5 that could have a materiaj effect on the financial statements. Assets and liabilities The charity has satisfattory tide ro assets and there are no liens or encumbrances on the charity's assets. except for those thai are disclosed in the nO￿S to the financial statements. We have recorded or disdosed. as appropriate. ￿1 liabilitie& both a(￿￿ and contingen¢ and have dtsclosed in the no￿$ ro the financ￿ ststrments guarantees that we have given to third parties. We have no plans or intenDons that may macerialty ￿ter the carytng valve or classification of assets and liabilities reflerted in the ffinants￿ mtrwnent Legal claims Al claim5 in connection with litigation that have bÈen. or ¥e expec￿￿ to b4 r￿eNed have been properly accrued for in the financial statements. Law and regulations We are not aware of any irregularitie& including fraud. invdwng management or employees of the eharty. nor are we aware of any breache5 or possible bread)es of statut< regulauons which mighc prejudice the d)krity'5 going concern status or that might result in the charity suffering significant penalties or other loss. No alleptions of such irregulariD4 including fraud. or such bwches have come to our notice. Transactions with relatèd parties 10 We are not aware of any transaction5 re12¢ed parties requiring disd05ure in the financial ststemenu. We have made available to you all releTrrdnC information concerning such rransactions and are not aware of any other matters which require disdosure in order to comply with the reqlfrirements of the Charities Att 201 l or accounung standards. Port-balance sheet events There have been no even(s since the balan￿ sheet date which necessitste revision of the ffigures included in the financi￿ statemen(s or inclusion of a note thereto. Should further material events octur. which max necessirats revision of the figures included in the financi￿ stttements or inclusion of a note thereto, we will advise you accordir￿y. Going concern 12 We believe thac the charity's ffinartcial statemenLS should be prepared on a going concern basis on the ground5 that current and future sources of funding or support wll be more than adequate for the charity's needs. We have considered a period of ￿e[ve months from the date of approval ol the finanti215taTrtnents. We believe that no further disclosures relaiing to the d￿1￿5 ability to continue a5 1 going concern need to be made in the finan￿￿ 512tement Incorporation as a Charitable Incorporated Organisation A new Charitable Incorporaced Organisation. Dunk's Ed￿￿tiOn￿ Foundavon was registsred on 14 August 2023. A resolution was passed on 3 August 2023 that all the property and assets ol the Dunk's and Springett's EducaDonal Foundauon (Charitable Rwstration No 3076641 were to be transferred to the newty formed ChJrir2ble Incorporatsd OrganisaDon. Dunk's Educational Foundavon ICharitaNe Re8¥strdtion No 12043361. This transfer took place on 14 August 2023. The accounts for the previous year were prepared as merger accoun{& Grants and donations All grants, donations 2nd other Inco[n￿ the recwpc of which is 5ubjert to spectfic tern)s or conditions. have been notyfied to you. There ha￿ been no breaches of ternis or conditions in the applicauon of such incom Yours faithful Signed on behalf of the board of rrustees Da