**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION**
**FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2022**
## **FREESTONE & CO**
Chartered Accountants One The Centre High Street GILLINGHAM Dorset SP8 4AB
**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION CONTENTS**
||**Page**|
|---|---|
|**TRUSTEES’ ANNUAL REPORT**|**2-5**|
|**INDEPENDENT EXAMINERS REPORT**|**6**|
|**RECEIPTS AND PAYMENTS ACCOUNT**|**7**|
|**STATEMENT OF ASSETS AND LIABILITIES**|**8**|
|**NOTES TO THE FINANCIAL STATEMENTS**
|**9-10**|
1
**Charity No. 306212**
# **GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2022**
## **Reference and administration details**
**Charity’s principal address:** Gillingham School, Hardings Lane, Gillingham, Dorset. SP8 4PQ
The trustees of the charity are _ex officio_ the governors of Gillingham School. The number of trustees (currently 16) and their appointment or election is organised according to the most recent Instrument of Government of the School. All trustees have equal responsibility to fulfil the objects of the charity and manage its assets.
## **Charity trustees**
**Name Office (if any) Dates acted if not for whole year**
**Foundation Governors– appointed by the Foundation trustees in office**
Mr G Lowton, SP7 8HL Chair Mr A Jenkins, BA9 6DY Mr T Sharp, DT10 1NR Mrs J Rees, BA12 6DY
## **Authority Governor – appointed by the Local Authority**
Mr S Uden, SP7 8LX
## **Parent Governors – elected by parents of pupils at Gillingham School**
Mrs M Ayre, SP7 0BF Mrs P Davidson, SP8 4GX Mr Richard Hopton, SP8 5NH _Appointed 16 November 2021_ Mrs Simmone Shearn, SP8 4GT _Appointed 16 November 2021_
## **Staff Governor – elected by the staff at Gillingham School**
Ms E Vallender, SP7 8PG
## **Co-Opted Governors – appointed by the board of Governors**
> Mr R Harvey, DT10 1NP Vice Chair Mr N Demmar, SP8 5BQ _End of term 30 October 2021_ Mrs S Hunt, SP8 5AD Mr M Lake, SP3 6AD Mr I Day, SP8 4PG _Appointed 13 February 2022_ Ms C Willis-Clarke _Resigned 12 July 2021_ Mr P Andrews, SP8 4EP _Appointed as Co-opted Governor 18 May 2021_
2
**Charity No. 306212**
# **GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2022 (Continued)**
## **Headteacher**
Mr P Nicholson, SP5 5QQ
_Resigned 28 September 2021_
## **Reference and administration details (continued)**
## **Names and addresses of advisers**
**Type of advisor Name Address** Accountants Freestone & Co One The centre, High Street, Gillingham, Dorset Solicitors Farnfield & Nicholls The Square, Gillingham, Dorset Bankers Lloyds TSB plc High Street, Gillingham, Dorset Investment advisors and nominees St James’s Place Wealth Management 1 Tetbury Road, Cirencester GL7 1FP
## **Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document:
The foundation of Gillingham School was created in 1516 by the gifts of lands and tenements so ‘that out of the issues and profits thereof there might be perpetually maintained within the said town a schoolmaster for the instruction of youth in good literature for the better discharge of their duty to God, the King and Commonwealth’.
In 1965 a scheme was made by the Secretary of State for Education and Science under Section 18 of the Charities Act 1960, as amended by the scheme dated 15 January 2003, which sets out the rules and regulations for the activities of the Foundation.
How the charity is constituted:
Foundation Trust
3
**Charity No. 306212**
# **GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2022**
**(Continued)**
## **Objectives and activities**
**Summary of the objects of the charity set out in its governing document:**
The school of the Foundation shall be a day or boarding school for boys or girls.
The principle object of the Foundation is to use the income of the fund for providing special benefits for the School and its scholars not normally provided by the Local Education Authority.
**Summary of the main activities in relation to these objects:**
The main activities include;
- Providing or assisting the provision of special benefits
- Making grants to individuals, including loans
- Making grants to organisations, including schools and charities
- Awarding scholarships, bursaries or maintenance allowances
- Promoting the education (including social and physical training) of beneficiaries.
The trustees who manage the charity meet at least four times a year.
## **Achievements and performance**
**Summary of the main achievements of the charity during the year**
During the period the Foundation continued to provide assistance for special benefits, field trips, exchanges, prizes and awards.
4
**Charity No. 306212**
# **GILLINGHAM SCHOOL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2022 (Continued)**
## **Financial review**
**Brief statement of the charity’s policy on reserves**
The capital of the various endowments and profits made thereon are restricted so that only the income generated can be spent on meeting the Foundations objectives.
## **Details of any funds materially in**
None.
**deficit**
## **Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature** …………………………………… …………………………………… **Full name Mr G Lowton Mr R Harvey**
**Position** Chair Vice Chair **Date** …………………………………… ……………………………………
5
**Charity No. 306212**
# **GILLINGHAM SCHOOL FOUNDATION INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
**TO THE BOARD OF GOVERNERS OF GILLINGHAM SCHOOL, AS TRUSTEES OF GILLINGHAM SCHOOL FOUNDATION**
**FOR THE YEAR ENDED 5 APRIL 2022 AS SET OUT ON PAGES 7 TO 10**
**Respective** The charity’s trustees consider that an audit is not required for this year (under section **responsibilities of** 145(1) of the Charities Act 2011 (the Act)). The trustees have requested that an **trustees and examiner** independent examination be carried out. It is my responsibility to: examine the accounts (under section 145 of the Act), to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145 (5) of the Act), and
to state whether particular matters have come to my attention.
**Basis of independent** My examination was carried out in accordance with General Directions given by the **examiner’s statement** Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
**Independent examiner’s statement**
In the course of my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 130 of the Act); and
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Signed: Date:**
**Name:** Mr R. Freestone **Relevant professional** FCA, FCCA **qualifications:**
**Address:** One The Centre High Street Gillingham Dorset SP8 4AB
6
**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022**
||**Unrestricted**
**Funds**
**£**
4,900
1,202
14,593
145,000|**Restricted**
**funds**
**£**
0
0
0
0|**Restricted**
**funds**
**£**
0
0
0
0|**Endowment**
**funds**
**£**
0
0
0
0|**Total**
**funds**
**£**
4,900
1,202
14,593
145,000|**Last**
**Year**
**£**
5,442
1,685
14,000
0|
|---|---|---|---|---|---|---|
|||**£**||**£**|||
||165,695
0||0
0|0
115,902|165,695
115,902|21,127
0|
|**s**|165,695||0|115,902|281,597|21,127|
||6,560
1,004
0
0
5,141
5,531
600
1,750
840
0||0
0
0
0
0
0
0
0
0
0|0
7,376
0
0
0
0
0
0
0
0|6,560
8,380
0
0
5,141
5,531
600
1,750
840
0|7,140
326
0
1,020
3,345
483
400
3,892
840
0|
||21,426
145,000||0
0
|7,376
28,802
108,526
253,526||17,446
0|
||166,426||0|115,902
282,328||17,446|
||(731)
0
17,549||0
0
0|0
(731)
0
0
0
17,549||3,681
0
13,868|
7
**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2022**
|**Note**
**Unrestricted**
**funds**
**£**
**Restricted**
**income funds**
**£**
**Endowment**
**funds**
**£**
**Total this**
**year**
**£**
**Total last**
**Year**
**£**
**Cash funds**
Cash at Lloyds Bank
16,818
0
0
16,818
17,549
16,818
0
0
16,818
17,549
**Investment assets**
Land and investments
1.
0
513
765,057
765,570
640,916
**Other assets**
Rents due
0
0
0
0
0
**Liabilities**
**Creditors and**
**accruals**
900
0
0
900
738
Net assets
2.
**£781,488**
**£657,727**
**Signed on behalf of all trustees**
**Signature**
……………………………………
……………………………………
**Full name**
**Mr G Lowton**
**Mr R Harvey**
**Position**
Chair
Vice Chair
**Date**
……………………………………
……………………………………|**Unrestricted**
**funds**
**£**
**Restricted**
**income funds**
**£**
**Endowment**
**funds**
**£**
16,818
0
0|**Total this**
**year**
**£**
**Total last**
**Year**
**£**
16,818
17,549|
|---|---|---|
||16,818
0
0|16,818
17,549|
||0
513
765,057|765,570
640,916|
||0
0
0|0
0|
||900
0
0|900
738|
|||**£781,488**
**£657,727**|
8
**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022**
## **1. LAND AND INVESTMENTS**
|**Holdings**
**Fixed interest**
Units
Diversified Bond
164,815
Corporate Bond
106,311
International Corporate Bond
123,410
**Equities**
Shares
Equity Income Unit Trust
39,190
Global Equity Income
40,413
UK High Income
0
Worldwide Income
80,089
UK Class UT Inc
14,467
Global Equity UT
5,872
**2022 Totals**
**2021 Comparatives**|**Cost**
**b/fwd**
**Additions**
**(Disposals)**
**/reinvest-**
**ments**
**Gains /**
**(losses)**
**Cost**
**c/fwd**
**Market**
**value**
**Est. net**
**income**
**for year**
£
£
£
£
£
£
£
128,018
28,710
97
156,825
137,324
5,066
95,988
21,533
100
117,621
108,544
4,333
95,950
21,532
136
117,618
104,097
5,191|
|---|---|
||319,956
71,775
333
0
392,064
349,965
14,590|
||64,207
14,355
(146)
78,416
83,552
2,032
64,258
(161)
64,097
100,183
208
128,345
(112,303)
(16,042)
0
0
64,150
14,355
(79)
78,426
103,795
1,756
28,710
109,538
138,248
137,046
728
14,355
(36)
14,319
14,323
76|
||320,960
71,775
(3,187)
(16,042)
373,506
438,899
4,800|
|||
||**640,916**
**143,550**
**(2,854)**
**(16,042)**
**765,570**
**788,864**
**19,390**|
|||
||**640,916**
**0**
**0**
**0**
**640,916**
**650,878**
**19,438**|
## **LAND**
In addition to the above investments the Foundation holds investments in land, which have not been valued. These include the site of the school and four parcels of agricultural land in Gillingham.
9
**Charity No. 306212**
## **GILLINGHAM SCHOOL FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022**
## **2. ACCUMULATED AND OTHER FUNDS**
|**ENDOWMENT FUNDS**
Capital Fund
Other Funds
- Sports Challenge Award
- Freame Prize
- Megson Memorial
- Fletcher Award
- Elphick Prize
- G Jones Memorial
- Megson Income Fund
**UNRESTRICTED FUNDS**
Income Fund
**TOTAL FUNDS**|**Balance**
**b/fwd**
**Gain/(loss) on**
**investments**
**Movements**
**in year**
**Balance**
**c/fwd**
**£**
**£**
**£**
**£**
630,329
(16,042)
140,696
754,983|
|---|---|
||6,410
0
0
6,410
29
0
0
29
500
0
0
500
484
0
0
484
87
0
0
87
2,564
0
0
2,564
513
0
0
513|
||10,587
0
0
10,587|
||16,811
0
(893)
15,918|
||16,811
0
(893)
15,918|
||**£657,727**
**(16,042)**
**139,803**
**781,488**|
10