## **ASHTON SCHOOLS FOUNDATION** **REGISTERED CHARITY NO: 307526** ## **ACCOUNTS** **FOR THE YEAR ENDED 31 MARCH 2023** ## **ASHTON SCHOOLS FOUNDATION** **INDEX TO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023** - 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 1 ## **ASHTON SCHOOLS FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** REGISTERED CHARITY NO. 307526 TRUSTEES AND APPOINTING BODY Rev Rachel Phillips - Ex Officio Governor Mrs Cynthia Gresham Acting Chair and - Co-optative 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 - resigned June 2022 Mr Johnson Tamara- Representative Trustee for Central Bedfordshire Council Mrs Gill Short- Representative Trustee for St Albans Diocesan Board of Education Mrs Jana Veyres - Co-optative Trustee - appointed March 2023 Miss Ann Sparrow- Co-optative Trustee Vacancy for one representative 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 2023** The Trustees present their annual report together with the accounts of the Charity for the year ended 31 March 2023. ## 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 .The improvements have taken longer than expected due to the Covid-19 pandemic. Much of the work has now been completed and it is hoped that Manshead Secondary School improvements will be finished 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 2023. The payments (excluding asset purchases) exceeded receipts (excluding assets sales) by £7,319. In 2022 the receipts (excluding asset sales) exceeded the payments (excluding asset purchases) by £9,352 **.** Grants and allocations totalling £31,000 (2022: £11,500) were paid during the year. Capital allocations made were £209,360 to Manshead School (2022: £209,360) and none to Ashton St Peter School. (2022: £258,346). The total value of investments and cash balances (less creditors’ payments due) held at 31 March 2023 was £1,363,509. (2022: £1,672,245). Particulars of the Charity’s freehold properties are shown in a schedule to the accounts and are stated at nil cost. 3 ## **ASHTON SCHOOLS FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## 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……………………………………………………… 6 ## **ASHTON SCHOOLS FOUNDATION** ## **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 2023, 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 4 ## **STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 MARCH 2023** |**Receipts**
**Receipts from investments**
Investments
Bank deposit account interest
**Investment receipts**
**Payments**
**Grants and allocations**
Manshead
Ashton St Peter
Other grants
**Other payments**
Clerical salary and expenses
Accountancy and independent examiner's fee
Insurance
Stock Exchange LEI
**Total payments**
**Excess of expenditure over income (income over expenditure)**
**Assets and investment sales**
Hargreaves Lansdown UK Treasury 0.5% sale
**Capital grants**
Manshead
Ashton St Peter -Headteacher's fund
**Decrease in monetary assets**
**Cash funds last year**
**Cash funds this year**|**2023**
**£**
**£**
30,039
44
30,083
23,500
7,500
-
31,000
5,330
650
422
-
6,402
37,402
7,319
-
-
-
266,193
-
266,193
266,193
-
763,313
489,801|**£**
**£**
28,395
2
28,397
8,000
3,000
500
11,500
6,514
500
423
108
7,545
19,045
9,352
249,135
249,135
209,360
258,346
467,706
218,571
-
972,532
763,313
**2022**|**£**
**£**
28,395
2
28,397
8,000
3,000
500
11,500
6,514
500
423
108
7,545
19,045
9,352
249,135
249,135
209,360
258,346
467,706
218,571
-
972,532
763,313
**2022**| |---|---|---|---| ||23,500
7,500
-|8,000
3,000
500|| ||5,330
650
422
-|6,514
500
423
108|| ||-|249,135|| ||||19,045| ||||9,352
249,135
467,706| ||266,193
-|209,360
258,346|| ||||| ||||218,571
-| ||||972,532| ||||763,313| 5 ## **STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2023** |**Cash Funds**
Bank current account
Bank deposit account
**Other monetary assets**
Teachers Building Society
COIF deposit fund
**Total monetary assets**
**Non monetary assets**
Date Acquired
Charities Official Investment Fund Income Units
14/12/1994 and
2017
**Liabilities**
Accountancy
**Held for charity's purposes**|**2023**
**£**
95,858
20,312|**£**
116,170
373,631
489,801
Market value
at 31/03/2023
£
873,708
250|**£**
**£**
569,515
20,267
589,782
100,000
73,531
173,531
763,313
250
**2022**|**£**
**£**
569,515
20,267
589,782
100,000
73,531
173,531
763,313
250
**2022**| |---|---|---|---|---| ||100,000
273,631||100,000
73,531|| ||Cost
£
136,586

250,000|||| |||||763,313| |||||250| ||386,586|||| 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 6 ## **ASHTON SCHOOLS FOUNDATION** ## **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 2023, 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