**REGISTERED CHARITY NUMBER: 1206089** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** ## **FOR** ## **AYSGARTH SCHOOL FOUNDATION** UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW **AYSGARTH SCHOOL FOUNDATION** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** **----- Start of picture text -----**
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 10
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## **AYSGARTH SCHOOL FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** The trustees present their report with the financial statements of the charity for the period 6 December 2023 to 31 August 2024. The trustees have adopted the provisions of 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). ## **INCORPORATION** The charitable incorporated organisation was incorporated on 6 December 2023. ## **OBJECTIVES AND ACTIVITIES** The objectives of the charity are the advancement of education, in particular the provision of charitable support to students or prospective students of Aysgarth School, as well as charitable support to Aysgarth School to support the development of its resources and facilities. The charity was established during the course of this financial year and therefore our overriding objective has been to complete the set up of the charity, recruitment of trustees and setting the foundations for raising funds, including the hosting of a fundraising ball at the School during June. The trustees of Aysgarth School Foundation are aware of the guidance published by the Charity Commission on Public Benefit and the guidance is taken into account when they review the objectives and activities of the charity. ## **ACHIEVEMENTS AND PERFORMANCE** Following the decision to set up the Aysgarth School Foundation as a new CIO, the new trustees successfully set up the charity, registering it with the Charity Commission and HMRC and establishing new bank accounts, as well as engaging accountants, insurance brokers and lawyers to support us. During the first year, charitable donations previously provided to the Aysgarth School Trust were redirected to the new CIO. The trustees also established and worked with a committee of existing parents of Aysgarth School students, to run a charity summer ball. The ball was a huge success and raised £73,000 net of Gift Aid for the Aysgarth School Foundation. The funds raised have primarily been invested to generate income and has also been used to fund set up costs and will support the running of the foundation going forwards, including the hiring of an external consultant to help launch a significant new fundraising campaign. ## **FINANCIAL REVIEW** During the financial year the charity had income of £121,373 with outgoings of £55,080, leaving a surplus of £66,293 for the year. The charity has no debts and the charity does not currently hold any funds as custodian trustee. The current reserves policy of the charity is to hold sufficient reserves to ensure that it can continue to pay all existing commitments for the running of the charity, such as banking and accounting fees. The trustees will review this as the charity develops. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Charity Structure** Aysgarth School Foundation is a new Charitable Incorporated Organisation (CIO), registered with the UK Charity Commission. Previously the ‘Aysgarth School Foundation’ was a fund managed by and within the Aysgarth School Trust (Charity No. 529538), for the purpose of raising funds to assist Aysgarth School with bursaries and capital projects. The new charity is currently managed by three trustees, with four of the trustees also being Governors of Aysgarth School and its activities and objectives are summarised above. -1- ## **AYSGARTH SCHOOL FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a Charitable Incorporated Organisation (CIO). The CIO is also party to an Operating Agreement governing the CIO’s relationship with Aysgarth School Trust, (a charitable company limited by guarantee, with the company number 00898078), whose registered office is at Newton le Willows, Bedale, North Yorkshire, England, DL8 1TF. The governing document states that there must at all times be at least three trustees of the charity, and a maximum of nine. Non-governor trustees of the charity must have a vested interest in Aysgarth School, in most cases being either an alumnus of the school, a current or former staff member, or a former parent of a child attending the school. When new trustees are required, the existing trustees will formulate a shortlist of candidates, with the Chairman of the Board of trustees then making the invitations. -2- ## **AYSGARTH SCHOOL FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1206089 ## **Principal address** Aysgarth School Newton-le-Willows Bedale North Yorkshire DL8 1TF ## **Trustees** R J Brooksbank (appointed 6/12/2023, Chair) Mrs A Consett (appointed 6/12/2023) M Leveson-Gower (appointed 6/12/2023, resigned 31/03/2024) S Price (appointed 6/12/2023, Treasurer) Mrs V Savile (appointed 6/12/2023) C York (appointed 31/03/2024) ## **Independent Examiner** UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW Approved by order of the board of trustees on 23 January 2025 and signed on its behalf by: R J Brooksbank - Chair -3- ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AYSGARTH SCHOOL FOUNDATION** ## **Independent examiner's report to the trustees of Aysgarth School Foundation** I report to the charity trustees on my examination of the accounts of the Company for the period 6 December 2023 to 31 August 2024. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: 1. accounting records were not kept in respect of the charity as required by Section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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 accounts to be reached. Harry Howley The Institute of Chartered Accountants in England and Wales UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW 23 January 2025 -4- ## **AYSGARTH SCHOOL FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** |||Unrestricted| |---|---|---| |||funds| ||Notes|£| |**INCOME AND ENDOWMENTS FROM**||| |Donations and legacies|3|**7,576**| |Other trading activities|4|**113,786**| |Investment income|5|**11**| |**Total**||**121,373**| |**EXPENDITURE ON**||| |Raising funds|6|**43,504**| |Other|7|**11,576**| |**Total**||**55,080**| |**NET INCOME**||**66,293**| |**TOTAL FUNDS CARRIED FORWARD**||**66,293**| The notes form part of these financial statements -5- ## **AYSGARTH SCHOOL FOUNDATION** ## **BALANCE SHEET 31 AUGUST 2024** |||Unrestricted| |---|---|---| |||funds| ||Notes|£| |**CURRENT ASSETS**||| |Debtors|11|**1,544**| |Cash at bank||**66,874**| |||**68,418**| |**CREDITORS**||| |Amounts falling due within one year|12|**(2,125)**| |**NET CURRENT ASSETS**||**66,293**| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||**66,293**| |**NET ASSETS**||**66,293**| |**FUNDS**|13|| |Unrestricted funds||**66,293**| |**TOTAL FUNDS**||**66,293**| The financial statements were approved by the Board of Trustees and authorised for issue on 23 January 2025 and were signed on its behalf by: S Price - Treasurer R J Brooksbank - Chair The notes form part of these financial statements -6- **AYSGARTH SCHOOL FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** ## **1. CHARITY INFORMATION** Aysgarth School Foundation is a Charitable Incorporated Organisation, registered in England and Wales. The charity's address can be found under reference and administrative details in the report of the trustees. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued.. -7- ## **AYSGARTH SCHOOL FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** |**3.**
**DONATIONS AND LEGACIES**
Donations
**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Book sales
**5.**
**INVESTMENT INCOME**
Deposit account interest
**6.**
**RAISING FUNDS**
**Other trading activities**
Costs of putting on fundraising ball
Fundraising dinner
**7.**
**SUPPORT COSTS**
Other resources expended
Support costs, included in the above, are as follows:
Professional fees
Insurance
Accountancy
Bank charges||**£**
**7,576**
**£**
**113,541**
**245**
**113,786**
**£**
**11**
**£**
**42,504**
**1,000**
**43,504**
£
**11,576**
Other
resources
expended
£
**9,949**
**107**
**1,500**
**20**
**11,576**| |---|---|---| |||| |||| |||| continued.. -8- **AYSGARTH SCHOOL FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** |**8.**|**NET INCOME/(EXPENDITURE)**||| |---|---|---|---| ||Net income/(expenditure) is stated after charging/(crediting):||| ||||**£**| ||Accountancy and independent examination||**1,500**| |**9.**|**TRUSTEES' REMUNERATION AND BENEFITS**||| ||There were no trustees' remuneration or other benefits for the period ended 31 August 2024.||| ||**Trustees' expenses**||| ||There were no trustees' expenses paid for the period ended 31 August 2024.||| |**10.**|**STAFF COSTS**||| ||The average number of employees during the year was Nil.||| |**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| ||||**£**| ||Prepayments||**1,544**| |**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| ||||**£**| ||Amounts owed to group undertakings||**625**| ||Accrued expenses||**1,500**| ||||**2,125**| |**13.**|**MOVEMENT IN FUNDS**||| |||Net|| |||movement|At| |||in funds|31.8.24| |||£|£| ||**Unrestricted funds**||| ||General fund|**66,293**|**66,293**| ||**TOTAL FUNDS**|**66,293**|**66,293**| continued.. -9- ## **AYSGARTH SCHOOL FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 DECEMBER 2023 TO 31 AUGUST 2024** ## **13. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
**121,373**
**121,373**|Resources
Movement
expended
in funds
£
£
**(55,080)**
**66,293**
**(55,080)**
**66,293**| |---|---|---| ## **14. ULTIMATE PARENT COMPANY** The ultimate parent company is Aysgarth School Trust, incorporated in England and Wales. Control is exercised over Aysgarth School Foundation by virtue of the right to appoint and remove all trustees. Its Charity Registration Number is 529538 and its Company Registration Number is 00898078. The principal purpose of the parent is the activities of an independent school. Members of the public can obtain copies of the consolidated accounts from the Charity Commission. ## **15. RELATED PARTY DISCLOSURES** The Charity has received donations from trustees in the year totalling £300.