## **ASHTON SCHOOLS FOUNDATION**
**REGISTERED CHARITY NO: 307526**
## **ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **ASHTON SCHOOLS FOUNDATION**
## **INDEX TO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021**
|PAGE|1|Legal and administrative information|
|---|---|---|
||2-3|Report of the Trustees|
||4|Income and expenditure account|
||5|Statement of assets and liabilities|
||6|Independent Examiner’s Report|
**ASHTON SCHOOLS FOUNDATION** 1
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## REGISTERED CHARITY NO. 307526
TRUSTEES AND APPOINTING BODY Rev Rachel Phillips - Ex Officio Governor Mrs Cynthia Gresham Acting Chair and - Cooptative Governor Mr Mark Saccoccio - Treasurer and Co-optative Governor Cllr Cllr Peter Hollick - Representative Trustee for Dunstable Town Council Cllr Gloria Martin - Representative Trustee for Dunstable Town Council Mrs Gladys Saunders -Representative Trustee for Central Bedfordshire Council Mr Johnson Tamara- Representative Trustee for Central Bedfordshire Council Mrs Gill Short- Representative Trustee for St Albans Diocesan Board of Education Miss Ann Sparrow- Co-optative Trustee Vacancy for one Co-optative Trustee
PRINCIPAL OFFICE Grove House 76 High Street North Dunstable Beds LU6 1NF INDEPENDENT EXAMINER Mrs Pearl Partridge 39 Wallace Drive Eaton Bray Dunstable Beds LU6 2DF SOLICITORS Debenhams Ottaway Ivy House 107 St Peter’s Street St Albans Herts AL1 3EW BANKERS Barclays Bank Plc 28 George Street Luton Beds LU1 2AE
2
## **ASHTON SCHOOLS FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees present their annual report together with the accounts of the Charity for the year ended 31 March 2021.
## CONSTITUTIONAL INFORMATION
The Charity is constituted under a trust instrument dated 15 January 1987 as amended on 22 September 2015. A further amendment has been applied for and is awaited from the Charity Commission. It is a registered charity number 307526 and registered as a charity on 11 August 1966.
## OBJECTS OF THE CHARITY
To provide funding and grants to schools and individuals to enhance the furtherance of education in the area of Dunstable, Bedfordshire in which the Charity has established its area of benefit.
## ACHIEVEMENTS AND PERFORMANCE
Following the sale of Ashton Middle School the proceeds are being used to improve and extend facilities at the two remaining schools in the foundation. This year monies have been spent on the improvement of facilities at Manshead Secondary School and Ashton St Peters School. The improvements have taken longer than expected due to the Covid-19 pandemic. It is hoped that the vast majority of the planned improvements will take place in the coming year.
## MANAGEMENT OF THE CHARITY AND RISK MANAGEMENT
The names of the trustees who served during the year are set out on page 1.
The trustees meet on a regular basis and also as and when considered necessary.
The trustees carry out an annual review of the risks which the Charity may face and have established systems and procedures to mitigate any risks identified and minimise any potential impact should any identified risks materialise.
## FINANCIAL REVIEW
The trustees have pleasure in presenting the accounts of the trust for the year ended 31 March 2021. The receipts (excluding asset sales) exceeded the payments (excluding asset purchases) by £11,124 **(** 2020: £20,151). Grants and allocations totalling £11,500 (2020: £12,825)
were paid during the year. Capital allocations made were £200,211 to Manshead School and £45,434 to Ashton St Peter’s School. (2020: £426,257, all to Manshead School).
The total value of investments and cash balances (less creditors payments due) held at 31 March 2021 was £2,058,955 (2020: £2,150,843).
Particulars of the Charity’s freehold properties are shown in a schedule to the accounts and are stated at nil cost.
## **ASHTON SCHOOLS FOUNDATION**
3
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## RESERVES
In accordance with guidelines issued by the Charity Commissioners, the trustees have adopted a policy regarding reserves and regularly review the level of reserves to ensure that the Charity is able to be managed efficiently and to provide an adequate buffer for the objects of the Charity to be maintained.
## INVESTMENT POLICY
The trustees only invest in Governments stocks, Official investment funds and interest bearing accounts with reputable clearing banks and building societies.
## GRANT MAKING POLICY
The Trust Instrument determines the schools and individuals qualifying for grants. The levels of grants paid to the schools and individuals are determined by the trustees based on income available after defraying the Charity’s expenses.
Signed on behalf of the trustees
SIGNED…………………………………………………… Cynthia Gresham – Co-optative Governor
DATE………………………………………………………
## **ASHTON SCHOOLS FOUNDATION** 6
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ASHTON SCHOOLS FOUNDATION**
I report on the accounts of the Charity for the year ended 31 March 2021, which are set out on pages 4 and 5.
## **Respective responsibilities of trustees and examiner**
The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5) (b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Pearl Partridge 39 Wallace Drive Eaton Bray Dunstable Bedfordshire LU6 2DF
DATE
## **Ashton Schools Foundation**
|Sale of Ashton Middle School
Deposit received
**Expenses incurred in obtaining sale**
**Y/E 31/3/2016**
Professional fees
**Y/E 31/3/2017**
Professional fees
1,320.00
General rates and utilities
6,519.00
Security
57,421.00
Boiler service
276.00
Insurance
16,472.00
less normal costs(estimated)
- 450.00 16,022.00
**Y/E 31/3/2018**
Caretaker
7,500.00
General rates and utilities
8,516.00
Insurance
1,809.00
less normal costs (estimated)
-450.00 1,359.00
Security
23,358.00
**Less refunded expenses**
Rates etc 2018
15,633.00
Utilities 2019
2,026.00
Land registry costs refund
866.00
**Total costs involved in sale**
**Net receipts from sale of Ashton Middle School**
Paid to Ashton St Peters for improvements to facilities
Paid to Ashton St Peters for fencing and gates|**sale**
16,472.00
- 450.00|1,320.00
6,519.00
57,421.00
276.00
16,022.00|30,200.00
81,558.00
40,733.00|2,217,222
25,000|
|---|---|---|---|---|
|||||2,242,222
133,966.00|
||1,809.00
-450.00|7,500.00
8,516.00
1,359.00
23,358.00|||
|||15,633.00
2,026.00
866.00|||
||||152,491.00
18,525.00||
||||2018
2019||
|||||**2,108,256.00**|
|||||172,529.00
31,933.00|
|||||204,462.00|
Net available for repair, maintenance, replacement and enlargement of buildings and facilities a the two ( primary and secondary) Ashton Foundation Schools as at 31 march 2019 is
|Per the minutes the trustees decided to keep
Donate to Manshead School
This leaves a balance available for Ashton St Peter's of
This is in addition to the money already paid to the school.
This would make the total donation available to them.|200,000.00
1,400,000.00|**1,903,794.00**
1,600,000.00|
|---|---|---|
||||
|||303,794.00
204,462.00|
|||**£ 508,256.00**|
Proper records must be kept to ensure that this amount is not exceeded when making payment to the two schools so that there is no encroachment into the charity's ordinary funds which allow the charity to make grants for religious education and school uniforms etc.
It is also necessary to look at the availability of the money i.e. how easy it is to realise invested necessary to make the payments when they are needed.
vs
funds
4
## **STATEMENT OF RECEIPTS AND PAYMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Receipts**
**Receipts from investments**
Investments
Bank deposit account interest
**Total Receipts**
**Payments**
**Grants and allocations**
Manshead
Ashton St Peter
Other grants
**Other payments**
Rent and expenses
Clerk's salary
Accountancy and independent examiner's fee
Insurance
Zoom meeting charges
Bank charges
Gift to outgoing Treasurer
**Total payments**
**Net of receipts / (payments)**
**Capital grants**
Manshead
Ashton St Peter -Headteacher's fund
**Cash funds last year**
**Cash funds this year**|**2,021**
**£**
30,344
9|
**£**
30,353
11,500
7,729
19,229
11,124
245,645
1,207,053
972,532|**2**
**£**
37,414
39|**020**
**£**
|
|---|---|---|---|---|
||8,000
3,000
500||8,000
3,000
1,825||
|||||37,453|
|||||
12,825
4,477|
||1,676
5,266
350
423
14
-
-||996
2,586
350
423
-
22
100||
||200,211
45,434||426,257
-||
|||||17,302|
|||||20,151
426,257
1,613,159|
||||||
|||||1,207,053|
-
|**STATEMENT OF ASSETS AND LIABILITIES**
**FOR THE YEAR ENDED 31 MARCH 2021**
**Cash Funds**
Bank current account
Bank deposit account
**Other monetary assets**
Teachers Building Society
Teachers Building Society
COIF deposit fund
**Total monetary assets**|**20**
**£**
34,168
20,266|**21**
**£**
54,434
918,097
972,531|**20**
**£**
23,054
252,408|5
**20**
**£**
275,462
1,163,743|
|---|---|---|---|---|
||100,000
490,000
328,097||100,000
490,000
573,743||
||||||
|||||1,439,205|
## **Non monetary assets**
||||Market value||
|---|---|---|---|---|
||Date Acquired|Cost|at 31/03/2021||
|||£|£||
|Charities Ofcial Investment Fund Income Units|12/14/1994|386,586|836,950||
|Hargreaves Lansdown Uk Treasury 0.5% 22/07/2022|6/8/2017|250,000|249,724||
|**Liabilities**|||||
|Accountancy|||250|250|
|Capital grant to Manshead|||-|232,151|
## **Held for charity's purposes**
Land and buildings known as Ashton St Peter Voluntary Aided Lower School (approved as Primary School from 1 September 2014) Land known as Mill Field Land and buildings known as Manshead Grant Voluntary Aided Upper School and the car park (approved as Secondary School from 1 September 2014)
The income and expenditure account and the statement of assets and liabilities on pages 4 and 5 were
approved by the Trustees on ………………………….. and signed on their behalf by
Cynthia Gresham
……………………………………………………..
## **Ashton Schools Foundation**
|Sale of Ashton Middle School
Deposit received
**Expenses incurred in obtaining sale**
**Y/E 31/3/2016**
Professional fees
**Y/E 31/3/2017**
Professional fees
1,320.00
General rates and utilities
6,519.00
Security
57,421.00
Boiler service
276.00
Insurance
16,472.00
less normal costs(estimated)
- 450.00 16,022.00
**Y/E 31/3/2018**
Caretaker
7,500.00
General rates and utilities
8,516.00
Insurance
1,809.00
less normal costs (estimated)
-450.00 1,359.00
Security
23,358.00
**Less refunded expenses**
Rates etc 2018
15,633.00
Utilities 2019
2,026.00
Land registry costs refund
866.00
**Total costs involved in sale**
**Net receipts from sale of Ashton Middle School**
Paid to Ashton St Peters for improvements to facilities
Paid to Ashton St Peters for fencing and gates|**sale**
16,472.00
- 450.00|1,320.00
6,519.00
57,421.00
276.00
16,022.00|30,200.00
81,558.00
40,733.00|2,217,222
25,000|
|---|---|---|---|---|
|||||2,242,222
133,966.00|
||1,809.00
-450.00|7,500.00
8,516.00
1,359.00
23,358.00|||
|||15,633.00
2,026.00
866.00|||
||||152,491.00
18,525.00||
||||2018
2019||
|||||**2,108,256.00**|
|||||172,529.00
31,933.00|
|||||204,462.00|
Net available for repair, maintenance, replacement and enlargement of buildings and facilities a the two ( primary and secondary) Ashton Foundation Schools as at 31 march 2019 is
|Per the minutes the trustees decided to keep
Donate to Manshead School
This leaves a balance available for Ashton St Peter's of
This is in addition to the money already paid to the school.
This would make the total donation available to them.|200,000.00
1,400,000.00|**1,903,794.00**
1,600,000.00|
|---|---|---|
||||
|||303,794.00
204,462.00|
|||**£ 508,256.00**|
Proper records must be kept to ensure that this amount is not exceeded when making payment to the two schools so that there is no encroachment into the charity's ordinary funds which allow the charity to make grants for religious education and school uniforms etc.
It is also necessary to look at the availability of the money i.e. how easy it is to realise invested necessary to make the payments when they are needed.
vs
funds
4
## **STATEMENT OF RECEIPTS AND PAYMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Receipts**
**Receipts from investments**
Investments
Bank deposit account interest
**Total Receipts**
**Payments**
**Grants and allocations**
Manshead
Ashton St Peter
Other grants
**Other payments**
Rent and expenses
Clerk's salary
Accountancy and independent examiner's fee
Insurance
Zoom meeting charges
Bank charges
Gift to outgoing Treasurer
**Total payments**
**Net of receipts / (payments)**
**Capital grants**
Manshead
Ashton St Peter -Headteacher's fund
**Cash funds last year**
**Cash funds this year**|**2,021**
**£**
30,344
9|
**£**
30,353
11,500
7,729
19,229
11,124
245,645
1,207,053
972,532|**2**
**£**
37,414
39|**020**
**£**
|
|---|---|---|---|---|
||8,000
3,000
500||8,000
3,000
1,825||
|||||37,453|
|||||
12,825
4,477|
||1,676
5,266
350
423
14
-
-||996
2,586
350
423
-
22
100||
||200,211
45,434||426,257
-||
|||||17,302|
|||||20,151
426,257
1,613,159|
||||||
|||||1,207,053|
-
|**STATEMENT OF ASSETS AND LIABILITIES**
**FOR THE YEAR ENDED 31 MARCH 2021**
**Cash Funds**
Bank current account
Bank deposit account
**Other monetary assets**
Teachers Building Society
Teachers Building Society
COIF deposit fund
**Total monetary assets**|**20**
**£**
34,168
20,266|**21**
**£**
54,434
918,097
972,531|**20**
**£**
23,054
252,408|5
**20**
**£**
275,462
1,163,743|
|---|---|---|---|---|
||100,000
490,000
328,097||100,000
490,000
573,743||
||||||
|||||1,439,205|
## **Non monetary assets**
||||Market value||
|---|---|---|---|---|
||Date Acquired|Cost|at 31/03/2021||
|||£|£||
|Charities Ofcial Investment Fund Income Units|12/14/1994|386,586|836,950||
|Hargreaves Lansdown Uk Treasury 0.5% 22/07/2022|6/8/2017|250,000|249,724||
|**Liabilities**|||||
|Accountancy|||250|250|
|Capital grant to Manshead|||-|232,151|
## **Held for charity's purposes**
Land and buildings known as Ashton St Peter Voluntary Aided Lower School (approved as Primary School from 1 September 2014) Land known as Mill Field Land and buildings known as Manshead Grant Voluntary Aided Upper School and the car park (approved as Secondary School from 1 September 2014)
The income and expenditure account and the statement of assets and liabilities on pages 4 and 5 were
approved by the Trustees on ………………………….. and signed on their behalf by
Cynthia Gresham
……………………………………………………..