2022-03-31-accounts - Ashton Schools Foundation

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ASHTON SCHOOLS FOUNDATION

REGISTERED CHARITY NO: 307526

ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

ASHTON SCHOOLS FOUNDATION

INDEX TO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

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

ASHTON SCHOOLS FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the accounts of the Charity for the year ended 31 March 2022.

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 was 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 Peter School. The improvements have taken longer than expected due to the Covid-19 pandemic. However, Ashton St Peter School improvements have been completed and it is hoped that Manshead Secondary School improvements will be completed by the end of the next financial 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 2022. The receipts (excluding asset sales) exceeded the payments (excluding asset purchases) by £9,352 ( 2021: £11,124). Grants and allocations totalling £11,500 (2021: £11,500)

were paid during the year. Capital allocations made were £209,360 to Manshead School (2021: £200,211) and £258,346 to Ashton St Peter School. (2021: £45,434). The total value of investments and cash balances (less creditors’ payments due) held at 31 March 2022 was £1,672,245 (2021: £2,058,955).

Particulars of the Charity’s freehold properties are shown in a schedule to the accounts and are stated at nil cost.

ASHTON SCHOOLS FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 2022, 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 DATE ................................................ 39 Wallace Drive Eaton Bray Dunstable Bedfordshire LU6 2DF

STATEMENT OF RECEIPTS AND PAYMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2,022 £ 28,395 2	20 £ 30,344 9	21 £ 30,353 11,500 7,729
8,000 3,000 500	8,000 3,000 500
6,514 500 423 - 108	6,942 350 423 14 -
249,135	-
		19,229
		11,124 - 245,645
209,360 258,346	200,211 45,434

		- 245,645
		1,207,053
		972,532

STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2022

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5
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2022 2021
£ £ £ £
Cash Funds
Bank current account 569,515 34,168
Bank deposit account 20,267 20,267
589,782 54,435
Other monetary assets
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Teachers Building Society 100,000 Teachers Building Society 0 COIF deposit fund 73,531 Total monetary assets Non monetary assets Date Acquired Cost £ Charites Ofcial Investment Fund Income Units 12/14/1994 386,586 Liabilites Accountancy	100,000 0 73,531	173,531 763,313 £ 909,182 250 Market value at 31/03/2022	100,000 490,000 328,097	918,097

				972,532
				250

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

39 Wallace Drive Eaton Bray Dunstable Bedfordshire LU6 2DF

27 July 2022

The Chairman and Treasurer of the Trustees Ashton Schools Foundation Grove House

76 High Street North Dunstable Bedfordshire LU6 1NF

Dear Mrs Gresham and Mr Saccoccio

I am writing with the findings of my recent examination of the accounts for The Ashton Schools Foundation charity for the year ended 31[st] March 2022 and I would like to include my thanks once again to Julie Tipler for her help and co-operation . There are a couple of serious items which I feel need to be brought to your attention but these do not affect the actual statutory accounts which have been prepared from the figures provided.

I understand that Julie Tipler and Cllr Hollick have now dealt with the amendment s to the Charity’s constitution and they have recently been submitted to the Charity Commission. Once the Charity Commission has agreed the amendments this information will need to be included in the accounts for the year ended 31 March 2023 under Constitutional Information. This has been ongoing since 2018 so it needs to be finalized as soon as possible.

Obviously the pandemic has delayed a lot of the building work at Manshead school which means that ASF is still holding considerable funds which will hopefully be distributed in the coming year. I am pleased to see that Ashton St Peter has now completed their building scheme , however, I am surprised to see that all their invoices have been paid gross i.e. including VAT. Aston St Peter has not followed the same system as Manshead who are applying for the net amount and reclaiming the VAT from the VAT Office. This means that over 2021 and 2022 an additional £40,000 plus could have been available for capital expenditure for Aston St Peter. Because of the pandemic there was a delay in getting the invoices from Ashton so it was not apparent at the last examination of the accounts. Perhaps the school is reclaiming the VAT and separating it into a capital fund themselves. I think it might be a good idea to discuss this with Ashton St Peter. In any case, the school has had its allocation now so no further money is available.

When reading through the Minutes of meetings I looked at the Treasurer’s report given to the trustees at the June 2022 meeting and was surprised to see that the figures are highly overstated because no notice had been taken of the closure of two accounts. Unfortunately the accounts had not been amended on the Assets and Liabilities schedule and the figures shown were given to the trustees. I have prepared a correct Assets and Liabilities schedule

which agrees with the statutory accounts. May I suggest this is reported at the next trustees’ meeting so that all are aware of the true situation of the Charity.

Please do contact me if you would like to discuss any of these matters.

I am prepared to act as Examiner again next year if you wish to use my services.

Yours sincerely

Pearl Partridge