Charlty ragl$tratlon numbér 288443 THE CHALLONER'S GIRLS FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 THE CHALLONER'S GIRLS FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D Prigst MrARoe Mr T Broadhead fiArs C Russell Mrs C Preston (Appolnted 8 Decemb8r 2021} (Appointed 12 Dec8mb8r 2022 Mr P Hollingsworth Chorfty nUM￿r 288443 Principal address clo Dr Challon8r's High School Cokes Lane Little Chalfonl Amersham Buckinghamshlre Uni18d Kingdom HP7 9QB Independent examineT Azets Audit Servi¢e8 Suites B & D Burnham Yard 8$awnsfield Bucks United lQngdom HP9 2JH THE CHALLONER'S GIRLS FOUNDATION CONTENTS Pagè TrsJstees' report Independent examiner's report Statement of financl81 acllvities Balance sheet statement of cash tlows Noles to the fin8n¢lal stalements 7-12 THE CHALLONER'S GIRLS FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Tho truslges present Iheir 8nnual report and financlal slalements for the year ended 31 August 2022. flnanclal stalamants have bo8n prapar8d in accordance with Ihg accountlng policies Sgt out nota 1 to Ih financial statements and comply with the char5ty'5 declaration of twst dated July 1983, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo ch2rilies preparing their accounts in accordance wth th6 Flnanclal Reporting Standard aw15catrJe in tho UK arKI Republic of Ireland IFRS 1021 (effective 1 January 20191.. Objecttves and a¢tlvitie$ Th& trust is established for or towards the educational welfare of and the pruvision vf educational amenities for all or any of the puplls at Dr Challonevs High School. Tho charity r8C81V8s donations most)y from parents or relatives of pupils at the school. The tn￿le0S make donations to the school throughout the year that allow th8 school to und6rt8ke projects or purtha88 equipment that would not otherwise b8 possible with the funding il receives from ihe ￿ntral governmenL The Iruslees hove paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. Achlevements and performance Durlng the year tha Iruslees have made donatlons to tho school to support". The work of the school Counsèllor The on? to one school laptop scheme for all pupils in Year 7 thmugh to and indudlng Year 11 Thè purchas8 of eAlcul8tors for all Year 7 students and variou8 other edu¢&tional rèsources and consumables The building of a new Sixth Fom) and Wellness Centre Flnan¢lal revlew The Statement of Financial Activities shows that £487,393 12021 £382,180) was due to be received by the charity during the year and In lurn £834,767 {2021 - £235.175I was donated lo the school towards the various projects already outlined. DOTra￿on5 recelvgd are for the bonefil of girts at the school and trustees cOn￿der that 8 cash r8s8rve of £60.000 Is sUff￿ent for the effèclive operation of the Injst. The total fjJnds held as at 31 Au9usI 2022 were £424,577 (2021- £771.1941 of which £92,28212021 - £480,172> were restricted funds and £322,295 {2021 - £291.022) unroslrlcted funds. Funds have increased during the year es dorkations were received into the ¢8mp8ign aecouftts. The Sixth Fomi and WBllness Centre was completed in August 2022 bul the campaign will continue to receive funds over the next two to three years. Trustees will ensure that every penny ￿CeiVed into the campaigns Is donated lo Ihe school for the Sixth Form and Wellness Centre. The trustees h8VO assessed tho malor risks to which the charity is exposed. and are satlsfietl that s￿lemS are in place to mlllgate exposure lo the rna￿)r risks. The contin¥Jing impact ol Covick19, the war in Ukralne and tha cost of Ilvlng crlsis all combin& lo make rdising funds for the Challoner's Girfs Foundation challenging. Given those Challenges. the Trustees ate extremely grateful for Ih08e who do continug to support the charity in IhSs way through their donation8. In the coming year, the TTusle8s exp$ct Ih8t the Charity's activibes will continue along broadly the same linos 8S In the period to 31 Atjgusl 2022 wlth support provided for various projects lo enhance the educational experi8nce of the glrts at Dr Challonèr's High Schod. THE CHALLONER'S GIRLS FOUNDATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 structure. governance and manag$m•nt The chartty was established by Trust Deed. Truslees ere appointed wth the exceptlon of one who as the Headt8Èchor of Dr Ch8lloneVs Hlgh School is an 8x4)fficio Iruslee of the charity. The Trust Deed stipulates that thèro should be no more than six and no faw8r than four trustees. At least two of the Iiustses, inclLiding the Chair, should b8 indeppndonl of Ihg ￿h0O1. De￿s1OnS should be made by majority vote with the Chair holding the c88ting vote, if required. The charity's day-104ay adivilies are admlrFiStered by the Business Manager of Dr ChaHon6ls High School on voluntary b8sis. The financial management of the school is subject to annual independent external audit and complies wth the financi21 management standards sel out in the Dep8rtmenl foi Educalion's A¢ademies FinanGlal Handbook and this financial awareness and care is also appli8d lo th8 charity's day-to-day operations. Income is from volunlory donations and bank interest. Grants to the school are only made On￿ money has been received and as a result thè Iru¥lees perceive that day-to4lay op8ralions of th8 trust are low risk. The truslges who Serv￿ dur*no the year and up lo the date of signature of the financial statements were= Mr L Wllllams {ResHJned 7 July 2022) Mr D Prsest MrARoe Mr T Broadhoad Mrs C Russall Mrs C Presto Mr P Hollingsworth (Appointed 8 December 20211 (Appolnted 12 Decèmber 20221 Th Irvstees. report was approvèd by the Board of Tru8ts98. Mr D Prlast Chair of Dal8d.. Mr P Holllhgs Trustee Dated... Iq L*.l.zi... orth rus ..l.?.r4..1, THE CHALLONER'S GIRLS FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHALLONER'S GIRLS FOUNDATION I report lo the trustees on my examinatlon of the financial sts18ments of The Challonerfs Girfs Foundation {the charity) for the year ended 31 August 2022. Responslbllltles and bas15 of report As the trustees of tho charity you arg responsible for the Preparation of the fil￿ncIal statements in aGGordance with thè requlremenls of the Charities Act 2011 (the 2011 Acll. I report iri respect of vny examlnatlon of the charity's financial statements carri8d out under sectlon 145 of the 2011 Act. In carrying out my examin8lion I have followed all the applicable Directions given by the Chality Commission under section 145{5llbl of the 2011 Act. Independent examlnef$ ststèment Sine8 th8 charity's gross incom8 oxceeded £250,000 your examlner rnusl b8 a member of 8 body listed in section 145 of the 2011 Act. I confirm that l am 9￿011r1ed lo underlak¢ the examlnation because l am a member of ICAEW. which is one of the listed bodi88. I have Completed my examination. I confirm that no matters have comg to my attgntion in o)nnection the examination giving me cause lo bèlieve that in any matertal respect.. accounting records wero not kept In respe¢t of the charity as required by section 130 of the 2011 Act. or the financial statements do not accord wllh those records., or the finan￿81 ststem@nts do not Comply with the applicab16 requir8menls conceming the form and conlsnl of accounts sel out in the Charitles {A¢counts and Repotts} Regulations 2008 other than any requirement that the accounts give a Irua and fair vi6w vthich ts not a matler consklered as part of an iadependent xaminalian. I have no wnc8fns and h8ve corn8 across no other matiers in connection with the examination lo which atttsntlon should be drawn In this report in ordei to enable a proper undersl8nd5ng of the financial ststements to be reached. Davld Cary LLB FCA Aztsts Audit SeNkos Suites B & D Bumharn Yard Beaconsfield Bucks HP9 2JH United ￿'ngdoM 03.05.2023 Dated.. THE CHALLONER'S GIRLS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Unre$trlcted Retstrlcted funds funds 2022 2022 Total Unro8trlcted Restricted fund5 funds 2021 2021 Totsl 2022 2021 Notes Income from. Donations and legaaes Other trading activitiès Investments 208,106 20,638 43 279,287 487,393 20,638 70 207,429 174,751 382,180 27 20 43 63 Total Incorne 228.787 279,314 508,101 207,449 174,794 382.243 Ex 8ndituro on: Ralslng fvnds 17.323 438 17.761 694 788 Charftsble activiti¢s 170.191 666,766 836.957 204.791 32.825 237,616 Totsl èxpèndltur& 187,514 667,204 854,718 205.485 32.919 238,404 Net Incom•llaxponditurg1 for tho y•arl Net movemont In fynds 41,273 1387.8901 1346,617) 141,875 143,839 Fund balances al 1 September 2021 291,022 480,172 771,194 289,058 338.297 627,355 Fund balances at 31 August 2022 332.295 92.282 424,577 291,022 480.172 771.194 The statement of financial *ctlviU6s includes all gains and10sses recognisèd In the year. l in¢ome and expenditure d@riv8 from C￿tinuIng activities. THE CHALLONER'S GIRLS FOUNDATION BALANCE SHEET ASAT31AUGUST2022 2022 2021 Notes Current assèts Debtors Cash al bank and in hand 10 12.534 414,233 12,793 760,381 426.707 773.174 Credltors: amounts falling due within one year 11 12,1901 (1.980} Net current assets 424,577 771,194 Income fund5 Reslricled ftjnds Unrestricted lunds 12 12 92.282 332,295 480,172 291,022 424,577 771,194 ,l*lzol3 Inanclal statements were approved by the Trustees on ......................... Priest Chalr of Trustees Mr P Hollingswo Trustee THE CHALLONER'S GIRLS FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2022 2022 2021 Notès Cash flows from operatlng actlvlti0S Cash (absorbed byygen8ral8d from operallons 15 (346,218) 234.528 Inveytlng actlvitles Investment income received 70 63 t cash g•noratod from Invostlng actlvltle$ 70 63 Nat cash usad In financlng actlvltlos Net {decreaselllncrease In cash and cash equlvalents 1346,148) 234.591 Cash and c8sh gqulvalents al tAglnnlng of year 760.388 525.790 Cash and cash equlvalents at end of year 414,233 760,381 THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng poll¢les Charfty Informatlon The Challonerfs Girls Foundation is a charitable Ir4Jst (Charity Reglslialion number 288443). Th8 Trustees meet as required to oversee the adminislralion of the charity and are responsible to tho Charllies Commission for the approval of the accounts. The registered address is clo Dr Challoner's High School, Cok8s Lane, LItUe Chalfonl. Amersham, 8ucklngh8mshire. United Kirtgdom. HP7 9QB. 1.1 A¢countlng conyentlon The fin8nclal statements have been prepared in accordance with the charity's dedaration of twsl, Ih Charities Act 2011 and 'Accounting and Reporting by ChaTiti8s= Statement of Recommended Praclice applicable to charttles preparing their a￿Ls￿l5 in a¢cord8ncg wllh the Flnanclal R8POrting Standard applicable in the UK and RepU￿1C of Ireland IFRS 102) leffective 1 January 20191" The charity is a Public Benefjt Entity as defined by FRS 102. The financial slalements have departed from the Charities IAccx)unts and Report51 RegulalSons 2008 only to the extent required to prowdè a truè #nd fair vlew. This dèparturè has involved following Éh& Statement of Recommended Practice for charities apply*ng FRS 102 ralher than the version of the Statement of Rgcommgnde(I PTgCtice which is roferred lo in Ihe Regulations bul whi¢h has Sin￿ been withdrawn. The financial 8tatements are prepa￿d in sterling, which is the ftJnctlon¥l currency of Ihe Charity. Monetary amounts in these financlal statements are rounded to the nearest £. The financial statements have beon propared under the hlslofical Cost convention. The principal accounting policies adoptsd are set out below. 1.2 Going concern Al tha timè of 8pprovSng the financial ststsments, the trustees hav8 a roasonable expectalion that the charity has adequate resources to continue In operational existen￿ for the foreseeable future. Thus the trusle&s continue lo adopt the 90ing concem basis of accounting in preparing the financial stslements. 1.3 Charltable funds UnreslTiCted funds are availabl8 for use at the discretion of the Iruslees In furtheran￿ of their charitable DbjectSves. Reslrlcted funds are subjèct to Specific ¢or*ditions by donors as to how they may be used. The pu￿Ose$ and usès of the restricted funds are set out in the notes lo the flnancial statementg. 1.4 Incomlng resou￿￿* Income is recognised when the charity is legally enlilled lo il after any performance condlilons have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognlsed on receipl. Other donations are recogn18ed once th8 ch8rity has b8en nolilied of thg donation, unless p8rfomane8 cofidition$ requirè def8ffal of th8 amount. Incomè tax r8cov•rabla in relation lo donali*)ns recoivod under Gift Aid or dèeds OF covenant is recogftised at the time of the donation. Income from other Iroding activities is measured al the fair value of the consmjeration received or recelvable and repr8sènts amDunts rec6ivable for goods and services provided in the coijrse of fundraising events. THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accounting pollcles {C¢ntlnuèdl Exp9ndilurg is rocognisgd once therè is a legal or constructive obligation to transfer e¢onomi¢ bgnefit to a third paty. il is probable that a transfer of economic benefits will be required in Sgtt18mèrst, and the amount of th& obligalion can be measured reliably. Expenditure is classified by activity. The costs of each acuvlty aro made up of the tr)tal of direct cnsts and shared costs, Including support costs involved in undertaking each activity. Direcl costs attributable lo a single a¢Uvily ar8 allocatéd dlre¢tly to that actlvlty. Shared costs which contribute to morB than on¢ acllvlly and support Costs which are not attributable to a single activity are apportloned betW8en those 8ctiviti8s on a bosis consistent with the use of resources. Central stsff costs are allocated on tho basis of lime spent. and deprecialion charges are allocated on the portion of the asset's use. 1.S Cash and cash equlvalents Cash and cash equivalents inolude cash in hand, deposits held at call with banks, other short-tsm liquid investments with original maturlligs of three months or less, and bank overdrafts. Bank overdrafts 8r8 shown wSlhln borrowings in current liabilities. 1.6 Flrtancial Instruments The charity has efecled to apply the provlslons of Section 11 'Basic Financial Instwments, and Seclon 12 'Other Financial Instruments Issu85' of FRS 102 to all gf ils fmancial instruments. FinanciBI instruments are recognisgd in the charills balance sheet when the charity becon7es party lo the contractual provisions of the Instrument. Financial assets and Ilabililies arg offset. with thg net amounts presented In the flnancial statements. when ther8 is a 18gally ènforceable light lo sel off the recognised amounts and there Is an Intention lo settle on a net basis or lo realise the asset and setde the liabilty simultsneously. B&slc fln4n¢ial assets Basic financial as8ets, which include debtors and cash and bank tsala￿￿5, are initially m8asure(l at transactlon price includlng transaction costs and ar8 S￿bSeqU￿ntIY carried at amortised cost using the eff8clive interest method unless the arrangement constitutes a financÉng transaction, where the Ir8nsact¢on is measured al the present value of th& future re¢61pts discounted at a market rate of intergst. Financ4al assèts classified as r8celvable within one y8ar are not amortlS8d. 8asi¢ flnanclal liabllltles Basi¢ flnanclal liabillties, indudlng creditors and bank loans are initially recognised at Iransacbon pri￿ unless the arrangtsment conslilules a financing Iransaclion, where the debt instrument is m&8sured at Ihe present valye of thè futurè payments discounted al a market ralè of interest. Financlal1Sablllllg8 classifiad as payablè within on8 year are nol amortisfjd. Debt instruments are subsequently carrled at &mo￿sed cost, using the effectivè interest rate method. Trade Creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operatrons from suppliers. Amounts payable are dassified as CUTrenl liabilities if payment is due wlhin one year or less. If not. they are Pfesgnt8d as non-currenl liabllilies. Trade creditors are recognisod inlli815y at transactton PTice and 8ub8gquèndy measur8d at 8morbs8d cost using the 6ffective inf8resl meth￿. Dore¢ogniYlon of finanelal Ilabllltlgs Finanry81 liabililias 8re derecognlsed when the charlty'5 contractU81 obligatlons expire OT are d15charged or cancelled. THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Donatlons and legacies Unrostrlctod Restrlcted funds funds Total Unreslricled lunds Restricted fijnds Totsl 2022 2022 2022 2021 2021 2021 Donations and gifts 208,106 279,287 487.393 207.429 174.751 382.180 Othor tradlng actlvltlgs Unrestricted funds Total 2022 2021 60th Anniversary Summer Ball 20.638 Inve5trnents Unrostrictod R¥stri¢t8d fund$ funds Total Unresthcled Reskncted fvnds fijnds Total 2022 2022 2022 2021 2021 2021 InleTesl receivable 43 27 70 20 43 83 Ralslng lunds Unre$trtcted Re8trl¢ted funds fundB Total Unrestriclad Restricted funds funds Totsl 2022 2022 2022 2021 2021 2021 Fundralsln and ubllcl Seeking donations, grants an(11gga¢i$s staging fvndraising events 1,996 438 2.434 788 15.327 15.327 Fundraising and publicty 17,323 438 17,761 788 17,323 438 17.761 694 788 THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 ChoTltable a¢tlvltles 2022 2021 Total grants lo Dr Challoners, High School Othei resourcas 8xpendad 834.767 235,175 461 834,767 235,636 Share of gOVernar￿ c¢)sts {see ttDte 7} 2.190 1,980 836.957 23T.616 Analysls by fund Unreslricled fijnds Rostricled funds 170,191 666,766 204,791 32,825 836,957 237,616 Goveman¢e costs Support Govgrnanco costs 2022 2021 Independent examlnation 2,1 2.190 1.980 2,190 2,190 1,980 Trustoos Non8 of the Irusl&es {or any pefsons connected with them) received any remuner8tion or benafits from the tharity during the year. Employ•es The average mnthty number of employees during the yearwas.. 2022 Number 2021 Number Total There were no employees whose annual rémunèr81ion was mor8 than £60.000. io- THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 10 Debtor$ 2022 2021 Amounts falllng dug wlthln ong year: Prepayments and accrued income 12.534 12.793 11 Credltors: amtwnts falllng wlthln onè y•ar 2022 202q AcLruals and deferred inc4Jme 2.190 1.980 12 Movemgnt in fund$ Movém•nt In funds Tncomlng r8sourc8S Balance at I S8pt&mbor 2021 Balance al 31 August 2022 8xpendod Unrestricted funds Restricted funds 291.022 480.772 228,787 279,314 1187,514} 1667,2041 332,295 92,282 771,194 508,101 1854,718) 424.577 13 Analysls of n•t assets bgtWg•n funils Unrestricted Restricted fund5 funds 2022 2022 Total Unrestrlctod Reslrthd funds funds 2021 2021 Total 2022 2021 Fund balan￿S at 31 August 2022 are rep￿SeTrted by- Current assets Current liabilities 334.485 12,1901 92.282 426,767 (2,1901 293.002 11,9801 480,172 773,174 11,9801 332.295 92,282 424,5 297.022 480,172 771.194 14 Rglatgd party traD¥aGtlons During the year, the Charsiy mode donations amounting lo £834,76712021-. £235,1751 lo Dr Challonerfs Hlgh School, a Ilmlted company whlch has mutual Trvstees. 11 THE CHALLONER'S GIRLS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 15 Cash generated from operatlons 2022 2021 IDeficllllsurpus for the year {346,617} 143,839 Adjustments for Investment income recognised in statement of financial activllies 1701 1631 Movpmenis In working capltsl.. Decrease in