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2022-12-31-accounts

Trustees’ Annual Report for the period

From 01/01/2022 To 31/12/2022

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 The furtherance of education in Zimbabwe,
through supporting 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		 Building an endowment fund to provide
lasting financial support to the school.
Funding projects at the school which support
the furtherance of education and providing
scholarships.
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 considered the guidance
issued by the Charity Commission and are
satisfied that the purposes are for the public
benefit

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

SORP reference
Policy on grant making Para 1.38 Grants are only made to Falcon College in
support of the charitable objectives of the
Trust.
Policy on social investment
including program related
investment		 Para 1.38 The Charity does not make social
investments and does not currently have a
policy of social investments.
Contribution made by
volunteers		 Para 1.38
Other

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 In 2022 the charity has continued to actively
raise funds to support the endowment fund
and to support a specific infrastructure
project at the school. The infrastructure
project was to fund the expansion of the
school Chapel (non-denominational) to
accommodate the increase in school
numbers as the school has become fully co-
educational. £42,718 was granted to the
school for this purpose during the year. The
endowment fund is managed by Investec
Wealth and the investment approach is
periodically monitored by the Trust’s
Investment Committee. At the end of 2022
the endowment fund stood at £94,853. The
charity continues to operate with minimal
overheads. During the year an FX gain of
£3,028 was recognised on the USD and
EUR bank and endowment funds.

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

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 At 31/12/2022 the charity’s financial position
has improved since the previous year end
with cash balances of £46.743 versus
£32,728 (2021). In addition the endowment
fund stands at £94,853. The charity holds no
fixed assets.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 All reserves are held either as cash in the
charity’s bank accounts with CAF Bank,
Wise Bank and PayPal or invested in a mix
of equities, fixed income and cash in a
standard asset allocation mix in the
endowment fund, managed by Investec
Wealth
Amount of reserves held Para 1.22 £141,576
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 The Trustees consider the charity to be a
going concern at the report date
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 Donations, raffles, events and 100 Clubs as
detailed in the income section of the annual
return
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 Investment of the endowment fund is
managed by a professional adviser, Investec
Wealth.
A description of the principal
risks facing the charity		 Para 1.46 Economic risks including the risk of global or
regional recessions which may impact the
financial capacity of donors.
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 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 Trustees are nominated from former pupils
of the school. Falcon College is entitled to
appoint the current headmaster as a trustee.
Additional information (optional)
You may choose to include further statements		 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 new trustees are required to complete a
declaration of eligibility form before being
confirmed as a trustee. New trustees are
provided with copies of the anti money
laundering policy and the anti bribery and
corruption policy.
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51 The trust is run by the trustees and has no
employees.
Relationship with any related
parties		 Para 1.51 At all meetings trustees are required to state
whether or not they have any conflicts of
interest or related party matters.
Other

Reference and Administrative details

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

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Peter Coulson Chair
Colin Bewes
Edward Sankey
Martin Bashall Appointed 01/04/2023
David van Wyk Appointed 01/04/2023 Falcon College
Alan Cornish Resigned 31/03/2023
RegQuerl Resigned 31/03/2023 Falcon College

– 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

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

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.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Peter Coulson Position (eg Secretary, Chair Chair, etc) Date 30/10/2022

Charity Name No (if any)
FALCON COLLEGE OVERSEAS TRUST 294169
Receipts andpayments accounts CC16a
For the period
from		 01/01/2022
Period start date		 To 31/12/2022
Period end date
Section A Receipts and payments Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
49,486
100
1,155
1,184
3,852
14
2,640
3,028
61,459
-
-
-
61,459		 Restricted funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
49,486
100
1,155
-
1,184
3,852
14
2,640
3,028
61,459
-
-
-
61,459		 Last year
to the nearest £

Donations		 49,486 51,442
Sles of Merchandise 100 75
100 Club 1,155 1,035
FX Gains 42
Raffles 1,184 -
Gift Aid 3,852 -
Bank Interest 14 -
Dinner Proceeds 2,640 -
FX Revaluation
Sub total(Gross income for AR)		 -
52,594
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
52,594

ConsultancyFees		 976 - - 976 1,701
Bank & Transaction Fees 596 - - 596 763
Platform & Domain Fees 389 - - 389 272
100 Club Prize - - - - 100
Donations to Falcon College 42,718 - - 42,718 8,788
Postage & Carriage 10 - - 10 -
Dinner Costs 2,414 - - 2,414 -
Travel & Subsistence 340 - - 340 -
**Sub total ** 47,444 - - 47,444 11,624
A4 Asset and investment
purchases, (see table)
Investec Wealth Endowment Fund
18,291
- - - -
- - - -
**Sub total ** - - - - 18,291
Total payments 47,444 - - 47,444 29,915
Net of receipts/(payments) 14,015 - - 14,015 22,679
A5 Transfers between funds - - - -
A6 Cash funds last year end 32,728 - - 32,728 10,049
Cash funds this year end 46,743 - - 46,743 32,728

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

CCXX R1 t SS
Categories
B1 Cash funds		 ~~1~~
Bank Accounts
Petty Cash
Cash in Transit
Details		 Unrestricted
funds
to nearest £
46,623
20
100		 Restricted funds
to nearest £
-
-
-		 Endowment
funds
to nearest £
Bank Accounts 46,623 - -
Petty Cash 20 - -
~~1~~
Cash in Transit		 100 - 0/10/2023
-

CCXX R1 accounts (SS)

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		 Total cash funds
(agree balances with receipts and payments account(s))
Details		 Total cash funds
(agree balances with receipts and payments account(s))
Details		 46,743 46,743 46,743 46,743 -
OK
Endowment
funds
to nearest £
- - -
- - -
- - -
- - -
- - -
- - -
Details Fund to which asset
belongs		 Cost (optional) Current value
(optional)
Investec Wealth Management - Endowment 94,506 94,833
- -
- -
- -
- -
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)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of approval
30/10/2022
30/10/2022

CCXX R2 accounts (SS)

30/10/2023

2

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of Falcon College Overseas Trust On accounts for the year 31/12/2022 Charity no 294169 ended (if any) Set out on pages 1-2 (remember to include the page numbers of additional sheets)

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Date: 30 October 2023 Name: David Lashbrook Relevant professional CA (SA) qualification(s) or body (if any): Address: Marigold Cottage Orchard Way Warninglid, West Sussex, RH17 5ST

October 2018

1

IER