REPORT OF THE CHAIRMAN OF THE TRUSTEES OF THE RAMSEY FOUNDATION For the year ending 31[st] March 2021
The Foundation’s accounts show a surplus of approximately £20,000 for the year, a slight decrease from the previous year. However, charitable donations were significantly higher than the previous year. The largest area of expenditure other than charitable donations was, as usual, repair and refurbishments of the flats, which at approximately £7,500 was less than 60% of the previous year’s figure. The largest single item was for repainting of the external walls. An insurance claim for subsidence-related damage to the flats is still ongoing. It is hoped that remedial work will be completed in 2021. Rental income from the stable flats was slightly higher than the previous year. Towards the end of the year the management of two flats was transferred from the letting agents to the Clerk of the Foundation. This will result in a significant saving in agents’ fees in future. The tenants’ deposits were transferred to the Foundation’s own account at The Tenancy Deposit Scheme (TDS).
The squash courts remain closed. The total cost of operation was reduced to approximately £2,500 from over £5,000 the previous year, when the courts were still in use. The long-term plan remains to find a profitable alternative use for the building.
Ramsey Pre-School continues to use the Old Library building under a sub-lease from Cambridgeshire County Council. This arrangement is working well in terms of preserving the asset, but no income to the Charity arises. However, it appears that the sub-lease expired in September 2019 and the Trustees are seeking clarification from Cambridgeshire County Council as to the renewal terms. Correspondence between the Charity and the County Council on this matter continues.
The Ramsey Spinning Infants School, part of which occupies land belonging to the Foundation under a 1952 lease to Huntingdon County Council (now Cambridgeshire County Council) continues to be operated by the Elliot Foundation under a sub-lease from the Council. There is no income to the Charity.
The Charity continues to manage the smallholdings to provide income for the benefit of the Trust. The rents were not increased in 2020/21. Rents are due to be reviewed in 2021/22
The bungalow situated in the school grounds continues to be let to private tenants.
Registered charity number 270604
During the year it was agreed that the tenants could fence in an area of adjacent land to use as additional garden space or for growing vegetables. An increased rent was agreed, and a new tenancy agreement was signed.
In addition to the usual annual contribution to Abbey College for school prizes, donations were made to the school for lunch clubs and sports equipment, equipment for the science department and additional IT equipment to support disadvantaged students to deal with the extra demands imposed by COVID-19 restrictions. £1,000 was provided for hardship grants to individual pupils. The total amount donated to the school was £13,400.
The Charity ended the year with a cash reserve of £74,752.
Discussions concerning the future of the Abbey Building, leased to the Ramsey Foundation under a 1936 lease, are ongoing. It is hoped that plans to redevelop the school site, if they come to fruition, will offer an opportunity to reach agreement with the Fairhaven Trust as to the arrangements for returning the building to them. The building is not currently in use by Abbey College for educational purposes.
Construction of the 3G all-weather sports pitch on Foundation land had not commenced at the end of March 2021, but it was scheduled to start in April.
During the preparation of the lease, it was brought to the attention of Trustees that the original right of way granted by a 1935 Conveyance, which gave access to the School Field from Hollow Lane, had been obstructed by various developments, including a school building. The Trustees have now asked Abbey College to grant an alternative right of way along Abbey Road. The matter has not yet been resolved.
There were no changes to the Trustees during the year.
Dated 14[th] January 2022
Signed……………………………………… Alan John Dods Chairman
THE RAMSEY FOUNDATION ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 WHITINGS LLP Chartered Accountants & Business Advisers 108 High Street Ramsey Cambridgeshire PE26 1 BS
THE RAMSEY FOUNDATION CONTENTS Page Report of tho Trustoes Independent Examiner's report Statement of Flnanclal Actlvltlo$ Balance sheet Notes to the a¢¢ounts Income & Expenditurn Account
THE RAMSEY FOUNDATION INFORMATION PROPRIETOR The Rams¢y Foundatlon Charfty number: 270604 PRINCIPAL OFFICE Abb&y College AbbÈy Road Huntingdon Cambs PE26 1DG ACCOUNTANTS Whitings LLP Chartered Accountsnts & Bu$lness Advlsers 108 High Street Ramsey Cambridgèshlre PE26 1BS BANKERS CAF Bank 25 Kings Hill Avenue Kings Hill West Malllng Kent ME19 4JQ TRUSTEES MR AJ DODS (Chalmianl MRS M AJACKSON MR E J EDWARDS MR J STEVENS MRS J A BAKER P8ge 1
THE RAMSEY FOUNDATION The Twstees submlt thelr report and accounts for the year to 31 IAarch 2021. PRINCIPAL ACTIVITIES The Trust Is th• admlnl$tratlve vehicle whos• oblectives are as follows: Thè benoll¢lal object of the charlty 1$ to provide support to the Abbay College and the edu¢atlon of Its students, pre$ent and past, and under the age of 25 years by: 1. th& award of grants to students; 2. provl$lon of grants and oth•r rgsourcos to Abbèy Coll•gé RESULTS FOR THE YEAR The surplus for the year amounted to £19,648 after a surplus In 2020 of £21,336. There were no transactlons In respect of Restrlcted Funds. The Tru$tg9$ recommend that the balance of unrestrl¢t•d funds of £117,606 surplus be carrled forward. TRUSTEES Thè Trustees who served the Foundatlon durlng the year ar• Ilsted on page 1. FIXED ASSETS Expendlture durlng the year was £NIL. TAXATION In tha opinion of the Tru$t&ès, tho Foundation 1$ exèmpt from taxatlon. ACCOUNTANTS A rasolution will b& proposed at the nèxt Genoral Moeting to re4ppoint tho Indepèndent Examiners, Whltlngs LLP. Page 2
THE RAMSEY FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES Chartty Law requir9$ the Trustees to prèpare statements of account for each financial period which give a true and fair View of the state of affairs of tha Charity and of its incomlng resources and application of resources for that p¢riod. In preparlng those financlal statsments, the Trustees are requlred to: al sele¢t suitable ac¢ountlng policies and then apply them consl$tently- b) make judgements and estimates that are reasonable and prud¢nt- ¢} to value assèts and liabllities In accordance wEth the Statement of Re¢ommended Practi¢e Accounting by Charities. The Trustee$ are responslble for keeping proper accounting racords which are sufflclent to show and explain the Charity's transactions and to disclose with rèa$onable accuracy at any time the financlal position of tha Charity, and to enable them to ensure that the statements of account comply with the requirement$ of the Charity (Accounts and Reports} Regulations 1995. They aro also responsible for safeguarding the assets of the Charity and hence for taking reasonabla stèps for the prevention and detection of fraud and othèr irregularities. Slgnod on behalf of the Trustees A Dods Date: 6 January 2021 Page 3
THE RAMSEY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE RAMSEY FOUNDATION ON THE UNAUDITED FINANCIAL INFORMATION I report on the accounts of thè Foundatlon for the yoar ended 31 March 2021 whl¢h are set out on pages S to g whl¢h have been prepared under the hlstorical cost convention. Respectlve responslbllltlgs of trustses and Indepgndent examlnor A$ the ¢harlty's trustee5 you are responsible for the preparatlon of the accounts; you conslder that the audit requirement of section 144121 of the Charities Act 2011 (the Act} does not apply. It Is my responsibility to state, on the procedures specified In the General 0Srectlon$ glven by the Charlty Commisslonèrs under sectlon 145{5llbl of the Act, whether partlcular matters have Come to my attontlon. Basis of independent examinor's statement y examlnatlon wa$ ¢arried out In accordano with the General Directions given by the Charity Commissloners. An examination includes a review of the accounting records kept by the charity and a comparlson of the accounts presented wlth those records. It also Includes conslderatlon of any unusual Itoms or dlsclosures In the accounts, and $•oklng explanatlons from you as trustees. concernlng $u¢h matlgrs. The pro¢edure$ undertaken do not provlde all the ¢vlden¢t that would be r¢qulred In an audit, and consequently I do not express an audit opinion on the view given by the a¢counts. Independont examlner'$ statgmgnt I have completed my examination. I confirm that no materlal matters have come to my attentlon in connection with the oxamination giving me cause to believa that in any matarial raspèct: 1. aceountlng rècord$ w•r¢ not kèpt In ro$p¢¢t of thè Trust •$ r¢qulred by se¢tlon 130 of the Act. or 2. the accounts do not &crd wlth those re¢ords,' or 3. the accounts do not comply wlth the appll¢ablè requlromènts concèrnlng thè form and Contènt of accounts set out in the Charitie5 (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a 'true and fair view which is not a maltar consid&r•d as part of an independent examination. Our work has boen undertaken In accordance wlth th& guldan¢e of ICAEW as detsll&d at Icaew.¢oml compilatlon. ANDREW BAND WHITINGS LLP Chartered Accountants & Buslness Advlsers 108 Hlgh Street Ramsey Cambrldgeshlro PE26 1BS Date". Page 4
THE RAMSEY FOUNDATION STATEMENT OF FINANCIAL ACTlVtTIES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 INCOME & ENDOWNMENTS Investment Income Other In¢ome 51.917 50.681 380 TOTAL INCOME & ENDOWNMENTS 51.917 5t.061 LESS: EXPENDITURE Expenditure on properties Expenditure on charitable acllvSlles Administration costs 12.785 13,400 6.084 19.864 4.195 5,666 TOTAL EXPENDITURE 32.269 29,725 NET INCOMINGIIOUTGOINGI RESOURCES FOR THE YEAR 19,648 21.336 Page 5
THE RAMSEY FOUNDATION BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Note ASSETS Fixed assets 1.084,739 9,523 1,085, 134 9,274 Investments 1,094,262 1,094,408 CURRENT ASSETS Poors Land Charity Prepayments Other debtors Deposit account Current account 1,844 1.669 660 2,277 1,502 69,752 5,000 50,085 5,000 78,925 58.864 CURRENT LIABILITIES Accountancy accrual 1726) (708) NET CURRENT ASSETS 78,199 58. 156 TOTAL ASSETS LESS CURRENT LIABILITIES 1,172,461 1. 752,564 RESERVES Charibond accumulation shares Revaluation reserve William Brown prlze fund 9,523 1,04S,331 9,274 1,045,331 1.054.855 1,054,606 UNRESTRICTED FUNDS Balance brought forward Excess of income over expenditure 97,958 19,648 T6,622 21.336 117,606 97,958 1,172,461 1. 152,564 Paoe 6
THE RAMSEY FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES 1.1 8a$ls of preparation of accounts The accounts have been prepared on an accruals basls under the historical cost ¢onventlon. 1.2 Tangiblo fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Deprèclation 1$ provided at rates calculated to wrlte off the cost of fixed assets. less their estimated residual value, over their expected u$*ful lives on the following bases: Old Grammar School Squash Courts stable Flats Lodge Small Holding Playing Field 0.0% 0.0 /0 0.0 /0 3.70/0 0.00 0.0° STABLE FLATS INCOME & AGENTS FEES The incorne from the stable flats is stated gross, before the deduction of agents fees. The cost of the agents fees has en included in admin & management fees. PRIZES & DONATIONS The 2021 figure for prizes & donations is for the school prizes, for contributions to the Ramsey Abbey ScSence & Ramsey Abbey Disadvantaged COVID-19 Support. lor lunch clubs, sports equipment and for pupil assistan. Page 7
THE RAMSEY FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 ASSETS Squash Courts & Playing Field Old 75.542 acres of farmland Grammar S¢hool Stabl8 Flats Lodgo Total Costnialuatlon At 1 April 2020 and 31 March 2021 150,000 300,000 375,000 10.664 255,000 1,090,664 Depreciatlon At 1 April 2020 Charge for the year 5,530 395 5.530 395 Al 31 March 2021 5,925 5.925 N¢t k>ook value Al 31 March 2021 150,000 300,000 375.000 4,739 255,000 1,084,739 At 31 March 2020 750.(WQ 300,000 3r5,000 5,134 255,000 1,085, 134 INVESTMENTS 2021 2020 Charibond accumulation shargs al valuation 9,523 9,274 Page 8
THE RAMSEY FOUNDATION INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 TURNOVER Smallholdings Stable flats Lodge Poors Land Charity Bank interest 6.390 33,668 9,990 1,845 24 6.390 32,955 9,000 2.277 59 GROSS SURPLUS 51.917 50,681 OTHER Squash court income 380 51.917 51.061 LESS: EXPENSES LAND & BUILDINGS Repairs & refurbishrllenls Squash court insuran, rnainlenance, light & heat Insurance Depreciation 7.504 12.945 2.528 2.358 395 5,734 790 395 12,785 19,864 ADMINISTRATION Accountancy fees Administration & management costs Sundries Prizès & donations Surveyors Fees & Cost of Plans 726 5.300 52 T08 4,881 50 4,195 27 13AOO 19.484 9,861 32.269 29.725 NET SURPLUS FOR THE YEAR 19,648 21.336 Page 9
THE RAMSEY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE RAMSEY FOUNDATION ON THE UNAUDITED FINANCIAL INFORMATION I report on the accounts of thè Foundatlon for the yoar ended 31 March 2021 whl¢h are set out on pages S to g whl¢h have been prepared under the hlstorical cost convention. Respectlve responslbllltlgs of trustses and Indepgndent examlnor A$ the ¢harlty's trustee5 you are responsible for the preparatlon of the accounts; you conslder that the audit requirement of section 144121 of the Charities Act 2011 (the Act} does not apply. It Is my responsibility to state, on the procedures specified In the General 0Srectlon$ glven by the Charlty Commisslonèrs under sectlon 145{5llbl of the Act, whether partlcular matters have Come to my attontlon. Basis of independent examinor's statement y examlnatlon wa$ ¢arried out In accordano with the General Directions given by the Charity Commissloners. An examination includes a review of the accounting records kept by the charity and a comparlson of the accounts presented wlth those records. It also Includes conslderatlon of any unusual Itoms or dlsclosures In the accounts, and $•oklng explanatlons from you as trustees. concernlng $u¢h matlgrs. The pro¢edure$ undertaken do not provlde all the ¢vlden¢t that would be r¢qulred In an audit, and consequently I do not express an audit opinion on the view given by the a¢counts. Independont examlner'$ statgmgnt I have completed my examination. I confirm that no materlal matters have come to my attentlon in connection with the oxamination giving me cause to believa that in any matarial raspèct: 1. aceountlng rècord$ w•r¢ not kèpt In ro$p¢¢t of thè Trust •$ r¢qulred by se¢tlon 130 of the Act. or 2. the accounts do not &crd wlth those re¢ords,' or 3. the accounts do not comply wlth the appll¢ablè requlromènts concèrnlng thè form and Contènt of accounts set out in the Charitie5 (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a 'true and fair view which is not a maltar consid&r•d as part of an independent examination. Our work has boen undertaken In accordance wlth th& guldan¢e of ICAEW as detsll&d at Icaew.¢oml compilatlon. ANDREW BAND WHITINGS LLP Chartered Accountants & Buslness Advlsers 108 Hlgh Street Ramsey Cambrldgeshlro PE26 1BS Date". Page 4