## **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
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3
4
5
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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|
||||||
||||||
||||||
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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**
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 to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2022.
- **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
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:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
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**