Charity No: 1206735
WELLINGBOROUGH SCHOOL FOUNDATION
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024
WELLINGBOROUGH SCHOOL FOUNDATION
CONTENTS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2024 .................................................................................. 1 TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 .................................................... 2 RECEIPT AND PAYMENT ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 .............................. 5 STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2024 ............................................ 6
WELLINGBOROUGH SCHOOL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2024
Chairman Dr J K Cox Trustees Mr J W Browne Mr C A Westley Mr A N Holman Ex officio Mr N A Johnson Ex officio Charity registered number 1206735 Principal Office c/o Wellingborough School London Road Wellingborough Northamptonshire NN8 2BX Bankers Svenska Handelsbanken 10 Waterside Way Northampton NN4 7XD Solicitors HCR Hewitsons Lancaster House Nunn Mills Road Northampton NN1 5GE
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WELLINGBOROUGH SCHOOL FOUNDATION
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.
Objects, Aims, Objectives and Activities
Charitable Objects
The objects of the Charity are the advancement of education of the pupils at Wellingborough School, through:
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the financial support and assistance of the school and/or wider educational initiatives projects and other associated activities;
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financial assistance by awarding scholarships, exhibitions, bursaries, maintenance allowances or grants tenable at the school or at any university, college of education, or other institution of further education.
Activities for achieving objectives
The Foundation aims to provide bursaries to enable deserving pupils, whose parents could not otherwise afford the fees, to attend Wellingborough School, and to provide capital grants and loans in order to improve the facilities from which the School operates.
Income is primarily generated through donations and fundraising. Fundraising approaches are cultivated through a stewardship program of activity which includes but is not limited to a strong relationship between the Foundation and the Old Wellingburian Club.
Achievements and Performance
Review of activities
In its first eight months of operating, the focus of the Foundation has been on establishing and solidifying relationships with potential donors, securing legacy pledges, and funding smaller ‘operational’ items of benefit to the School.
Donation and fundraising income totalled £8,349 in the year (2023: n/a). Grants totalling £3,308 were made to Wellingborough School.
Public benefit
In considering the operation, achievements, performance and finances of the Foundation, the Trustees are satisfied that public benefit has been provided in accordance with s.17 of the Charities Act 2011 and the guidance published by the Charity Commission.
Plans for the Future
The Foundation will pro-actively generate income through the full mix of fundraising activities and prudent investment of its funds.
Structure, Governance and Management
Constitution
The Wellingborough School Foundation is a Charitable Incorporated Organisation (CIO) and is governed by its constitution. It was registered on 26 January 2024 under number 1206735.
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WELLINGBOROUGH SCHOOL FOUNDATION
Recruitment and appointment of Trustees
The Foundation is managed by the Trustees. There must be at least three, and no more than 10, Appointed Trustees. Additionally, the Head and the Bursar of Wellingborough School are automatically, by virtue of holding that office, charity trustees (“ex officio”).
Care is taken to appoint Trustees to ensure they bring other relevant professional skills to the Foundation including finance, investment, and legal expertise.
Induction and training of Trustees
Following the appointment of new Trustees they are briefed by the Chairman of Trustees and are provided with an induction pack which includes information on the legal framework and structure of the Foundation and its future aims and past achievements.
Organisational structure
The Trustees are responsible for the overall management and control of the Trust and meet three times a year.
The sole member of the CIO is Wellingborough School. Admission of new members is by resolution (whether at a general meeting or in writing) of the existing member. No resolution for the admission of a new member may be passed unless the School votes in favour of such resolution.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances and are satisfied that systems and procedures are in place to mitigate exposure to those risks.
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare full financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution.
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WELLINGBOROUGH SCHOOL FOUNDATION
The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Dr J K Cox Chairman
Date: 17 January 2025
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WELLINGBOROUGH SCHOOL FOUNDATION
RECEIPT AND PAYMENT ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024
| Receipts Donations Gift Aid tax reclaimed Interest from cash deposits Total Receipts Payments Charitable donations Bank charges Independent examiner’s fee Total payments Net receipts / (payments) Total cash funds brought forward Total cash funds carried forward |
Unrestricted Funds £ 5,849 - 36 5,885 (800) (8) - (808) 5,077 - 5,077 |
Restricted Funds £ 2,500 - - 2,500 (2,500) - - (2,500) - - - |
Total 2024 £ 8,349 - 36 8,385 (3,300) (8) - (3,308) 5,077 - 5,077 |
Total 2023 £ - - - |
|---|---|---|---|---|
| - | ||||
| - - - |
||||
| - | ||||
| - - |
||||
| - |
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WELLINGBOROUGH SCHOOL FOUNDATION
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2024
| Cash Funds Unrestricted funds Handelsbanken current account |
2024 £ 5,077 5,077 |
2023 £ - |
|---|---|---|
| - |
The charity has not given any guarantees nor has any outstanding debts secured on the assets of the charity.
The Receipts and Payments Account and Statement of Assets and Liabilities on pages 5 and 6 were approved by the Trustees, and signed on their behalf by:
Dr J K Cox Chairman
Date: 17 January 2025
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