2021-12-31-accounts

Trustees’ Annual Report for the period

From 01/01/2021 Period start date To 31/12/2021 Period end date

Charity name: Falcon College Overseas Trust

Charity registration number: 294169

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To raise funds to support the furtherance of education at Falcon College, Esigodini, Zimbabwe
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Funds were raised to help build the endowment fund and to support specific projects, notably those promoting inclusivity.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees have reviewed the guidance issued by the Charity Commission on public benefit and have had due regard of this guidance in exercising their duties.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

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SORP reference
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Achievements and Performance	Achievements and Performance	Achievements and Performance
SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	During the year the Charity increased the level of donations received by threefold. A specific building project in Zimbabwe was identified, which when completed will enable the school to accommodate more pupils and which will increase inclusivity by enabling the school to accommodate more girl pupils. In addition, the Charity continued to work towards growing the endowment fund, with a total of £18,291 transferred to the fund during 2021

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	At the start of the year the key objective was to further grow the endowment fund. This was achieved. A new objective was adopted during the course of the year, namely to raise US$120,000 to help with the expansion and construction of school buildings. This objective was partially met, but it had not been envisaged to complete this in 2021.
Performance of fundraising activities against objectives set	Para 1.41	2021 has seen a 300% increase in funds raised. The funds have been allocated to the endowment fund and the building project.
Investment performance against objectives	Para 1.41	The endowment fund, managed by Investec Wealth, has continued to grow. Contributions to the fund totalled £18,291 and the fund benefited from capital growth of 9.6% over the year.
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	At the end of the period the Charity had unrestricted cash of £32,728 and an Endowment Fund of £103,317
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Reserves are mostly invested in the Endowment fund, but the Trustees hold a prudent level of cash to meet day to day expenses and any urgent requirements for funding from the school in Zimbabwe.
Amount of reserves held	Para 1.22	Total reserves held are £136,045
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Given the healthy level of reserves and continued support for the Charity the Trustees consider the Charity is a going concern

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principal sources of funds are donations, in the form of regular giving and one-off donations
Investment policy and objectives including any social investment policy adopted	Para 1.46	Th Endowment fund is invested in a “medium risk balanced” portfolio as a long- term investment with the objective of generating a real return from capital.
A description of the principal risks facing the charity	Para 1.46	The key risks facing the charity are:  FX risk as funds are raised in multiple currencies and funds transferred to the school to support specific projects are in USD
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Deed of Trust
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	As an unincorporated Charitable Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The Deed of Trust requires there to be a maximum of five trustees (minimum three), one of whom is an ex-officio Trustee reserved for the headmaster of the school. Other trustees are selected from a pool of former pupils of the school who have the appropriate skills and experience to serve as a trustee.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	All Trustees are provided with an annual update to the following policies:  Anti Money Laundering Policy  Anti Bribery and Corruption Policy All Trustees also complete a “Charity Trustee: Declaration of eligibility and responsibility”declaration.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Trust has no employees and the organisational structure comprises the current Board of Trustees.
Relationship with any related parties	Para 1.51	N/A
Other

Reference and Administrative details

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Charity name Falcon College Overseas Trust
Other name the charity uses
Registered charity number 294169
Charity’s principal address The Old Vicarage,
Hambleton,
Rutland LE15 8TH
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Names of the charity trustees who manage the charity

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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Peter Coulson Trustee & Chair
2 Colin Bewes Trustee
3 Edward Sankey Trustee
4 Alan Cornish Trustee
5 Reg Querl Trustee (ex-officio) Falcon College
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– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Funds held as custodian trustees on behalf of others	Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity N/A
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects N/A
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

The trustees declare that they have approved the trustees’ report above.	The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees Signature(s) Full name(s) Peter Coulson Colin Bewes Position (eg Secretary, Chair, etc) Chair Date
	Peter Coulson Colin Bewes
	Chair

Signed on behalf of the charity’s trustees

Charity Name No (if any) Falcon College Overseas Trust 294169

Receipts and payments accounts

CC16a

For the period Period start date Period end date To from 01/01/2021 31/12/2021

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £	Endowment funds to the nearest £	Total funds to the nearest £	Total funds to the nearest £	Last year to the nearest £
Donations	51,442		-		-		51,442		16,731
Sles of Merchandise	75		-		-		75		287
100 Club	1,035		-		-		1,035		1,385
FX Gains	42		-		-		42		101
Mavros Raffle	-		-		-		-		6,277
	-		-		-		-		-
	-		-		-		-		-
	-		-		-		-		-
Sub total(Gross income for AR)	52,594		-		-		52,594		24,781
A2 Asset and investment sales, (see table).
	-
	-								-
Sub total	-								-
Total receipts A3 Payments
									24,781
ConsultancyFees	1,701		-		-		1,701		8,160
Bank and Transaction fees	763		-		-		763		345
Platform and Domain Fees	272		-		-		272		46
100 Club Prize	100		-		-		100		-
Donations to Falcon College	8,788		-		-		8,788		4,154
Postage & Carriage	-		-		-		-		17
	-		-		-		-		-
	-		-		-		-		-
	-		-		-		-		-
**Sub total **	11,624		-		-		11,624		12,721
A4 Asset and investment purchases, (see table)
Inestec Wealth Endowment Fund	18,291								23,023
	-
**Sub total **	18,291								23,023
Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end
									35,744
	22,679								- 10,964
	-								-
	10,049								21,013
	32,728								10,049

Section B Statement of assets and liabilities at the end of the period

CCXX R1 accounts (SS) Categories B1 Cash funds	1 CAF Bank Ltd Wise Bank PayPal Details Total cash funds (agree balances with receipts and payments account(s))	Unrestricted funds to nearest £ 6,664 25,354 709 32,728 OK	13/10/2022 Restricted funds Endowment funds to nearest £ to nearest £ - - - - - - - - OK OK	Endowment funds to nearest £
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Signed by one or two trustees on behalf of all the trustees B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Details	Details	Unrestricted funds to nearest £	Unrestricted funds to nearest £	Restricted funds to nearest £	Restricted funds to nearest £	Endowment funds to nearest £
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	Details		Fund to which asset belongs		Cost (optional)		Current value (optional)
	Investec Wealth Management				88,016		103,317
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	Signature Details Details		Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Peter Coulson Colin Bewes				Current value (optional)
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							When due (optional)
							Date of approval

CCXX R2 accounts (SS)

13/10/2022

2

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