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2024-03-31-accounts

ASHTON SCHOOLS FOUNDATION REGISTERED CHARITY NO: 307526

ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

ASHTON SCHOOLS FOUNDATION

INDEX TO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

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 Peter Hollick - Representative Trustee for Dunstable Town Council Cllr Gloria Martin - Representative Trustee for Dunstable Town Council (resigned May 2023) Cllr Matthew Neall - Representative Trustee for Dunstable Town Council (appointed May 2023) Mr Johnson Tamara - Representative Trustee for Central Bedfordshire Council (resigned May 2023) Cllr Gregory Alderman - Representative Trustee for Central Bedfordshire Council (appointed May 2023) Cllr Kenson Gurney - Representative Trustee for Central Bedfordshire Council (appointed May 2023) Mrs Gill Short - Representative Trustee for St Albans Diocesan Board of Education Mrs Jana Veyres - Co-optative Trustee Ms Gloria Martin - Co-optative Trustee (appointed 28 June 2023)

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 2024

The Trustees present their annual report together with the accounts of the Charity for the year ended 31 March 2024.

CONSTITUTIONAL INFORMATION

The Charity is constituted under a trust instrument dated 15 January 1987 as amended on 24 July 2001 and 22 September 2015 and a further amendment has been granted by the Charity Commission on 19 February 2024. 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 Church of England Academy. The improvements have taken longer than expected as some work could only be completed during school holidays. The majority of the work has now been completed and it is expected that the final building works at Manshead Church of England Academy will be completed by the Autumn of 2024.

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 2024. The payments (excluding asset purchases) exceeded receipts (excluding assets sales) by £8,561. In 2023 the receipts (excluding asset sales) exceeded the payments (excluding asset purchases) by £7,319 . Grants and allocations totalling £24,324 (2023: £31,000) were paid during the year. Capital allocations made were £83,700 to Manshead Church of England Academy (2023: £209,360). The total value of investments and cash balances (less creditors’ payments due) held at 31 March 2024 was £ £1,368,622 (2023:£1,363,509)

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 2024

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 2024, 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:

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:

have not been met; or

Mrs Pearl Partridge DATE ................................ 39 Wallace Drive Eaton Bray Dunstable Bedfordshire LU6 2DF

Ashton School Foundation Statement of Accounts as at 31.03.24

RECEIPTS
Bank loyalty reward
Bank Interest - Premium A/c
Income from Investments:
C.O.I.F (Inc £254,566.04 withdrawn)
Teachers
Treasury Dividends
Other Account closures
Total receipts
EXPENDITURE
Grants
Equipment
Schools
Laptop
Administration of Charity:
Rent & Admin
Rent/Admin/Payroll
Other
Trustee Insurance
Bank Charges
Accountant
Other/Misc
Reinvestments
Transfer to Investmments
Total Expenditure
NET RECEIPTS / (EXPENDITURE)
Current account
Premium account
Total assets brought forward
NET RECEIPTS / (EXPENDITURE)
Total assets carried forward
Check
Current account balance31.03.2024
Premium account balance31.03.2024
Apr 2023 - March 2024
£
£
Apr 2023 - March 2024
£
£
Apr 2022- March 2023
£
£
Apr 2022- March 2023
£
£
0.00
0.00
0.00
244.55
244.55



40,147.71
0.00
0.00
0.00
44.31
44.31



30,038.87
38,452.64
1,695.07
0.00
29,324.49
714.38
0.00
324.00
107,700.00
0.00
0.00
0.00

0.00
297,192.98
0.00
0.00
0.00
£ 40,392.26 £ 30,083.18
108,024.00


6,276.00




1,231.98
0.00
297,192.98


5,329.45




1,172.46
200000
0.00
6,276.00
1,020.12
4,309.33
462.66
0.00
650.00
119.32
422.46
0.00
650.00
100.00
95,858.57
20,312.29
569,514.59
20,267.98
115,531.98 503,694.89
(75,139.72) (473,611.71)
116,170.86
(75,139.72)

589,782.57
(473,611.71)

20,474.30
20,556.79
95,858.57
20,312.29
41,031.09 116,170.86
0.05 (0.00)

ASHTON SCHOOLS FOUNDATION ASSETS AND LIABILITIES AS AT 31st March 2024

----- Start of picture text -----
due to adding £200,010
AS AT 29.10.2023
Price/unit val
INVESTMENTS: Share Price pence Value at
Holding 3/31/2024 3/31/2024 3/31/2023 2022 2021 2020 WITHDRAWN WITHDRAWN Totals
(mid market val pence) £ £ £ £ 31.03.20 573,742.55
just put values on
Charities Official Investment Funds statements in Pearls figures
COIF CO3041212 Units 273,631.41 273,631.41 73,531.41 328,097.45 573,742.51 £194,106.14 £232,151.35 £426,257.49 Total for 2019/2020
COIF CO3041213 AOI 626.87 1,871.37 11,731.06 12,207.35 11,731.06 9,313.03 £200,211.10 £27,868.96 £17,565.00 £245,645.06 Total for 2020/2021
COIF CO3041214 War Damage Compensation 134.86 1,871.37 2,523.73 2,626.20 2,523.73 2,003.53 28.04.2021 £55,156.00 199,410.04 £254,566.04
COIF CO3041215 Undesignated 45,926.41 1,871.37 859,453.06 894,347.95 859,453.06 682,301.12 HL £249,759.32
Teachers y000220GRO 100,000.00 100,000.00 100,000.00 10,000.00 10,000.00 Teachers £490,434.96 994,760.32 Total for 2021/2022
Teachers - for any closed accounts
money shows in cash book and not in
assets EC00005ASH 0.00 490,000.00 490,000.00 Acc Closed - funds awaited £490,434.96
Hargreaves Lansdown Treasury 0.5% gilt 22/07/22 GBP1 248.21 100.38 250,319.00 248,631.95 Price pence as of 31.01.21 100.85 Value as of 31.01.2021 - £250,957 (£620.53 income)
Capital Acc Ba £17 & Inc Acc Bal £620 637 Account now closed. £249,121.46 withdrawn and put into current account for schools distribution
Total of Investments 373,631.41 1,247,339.26 1,082,712.91 1,952,761.30 2,015,992.14
RUN TREASURERS REPORT BY PEARL BEFORE
GOING TO MARCH MEETING
Bank balances 31.03.2024 as of 31.03.2023
Current a/c 20,474.30 569,514.59
Business Premium a/c 20,556.79 20267.98
Total of bank balances 41,031.09 41,031.09 589,782.57 41,031.09 43,310.55 23,159.48
Old Account Numbers for COIF Investments
Total Assets 414,662.50 1,288,370.35 1,672,495.48 1,993,792.39 2,059,302.69 23,159.48 0.00 Changed November 2023
COIF 000460001C
Transfer from Investments to current
account 0.00 0.00 COIF 000460001T
COIF 000460002T
Movement in investments -873,707.85 164,626.35 -870,048.39 -63,230.84 2,015,992.14 0.00 COIF 000460003T
RED FIGURES TO BE ADJUSTED AFTER MEETING WITH PEARL
----- End of picture text -----

2023/24

20,474.30 40,147.71 115,531.98 1,695.07 38,452.64 0.00 0.00

108,024.00 0.00 6,276.00 462.66 650.00 119.32

ASHTON SCHOOL FOUNDATION Income Income Income 27,783.1 2023/24
0
Interest

42.35
5
9
54.54
76.59
01.04.23-28.04.23
29.04.23-31.05.23
01.06.23-30.06.23
01.07.23-31.07.23
01.08.23-31.08.23
01.09.23-29.09.23
30.09.23-31.10.23
04.12.23-3.03.24
01.12.23-29.12.23
Administration of Charity:
Date Details Chq/Type Balance Income Expenditure Investments COIF Treasury
Dividends
Other
Grant
description
Grant Rent &
Admin
Rent&Adm
in Payroll
Insurance Accountant Other
4/1/2023 Balance b/f 95,858.57 5,156.00
4/6/2023 COIF 000460001C D/Credit 96,745.58 887.01 0.00 887.01 50,000.00
4/18/2023 J Bradley BACS 96,662.25 0.00 83.33 83.33 13,000.00
99,000.00
87,410.04
3,779.86
258,345.90
Balance b/f
Business Premium Account
Balance b/f
Transfer
Interest
Balance c/f
4/20/2023 ADC(Payroll/Rent/Admin) S/O 96,139.25 0.00 523.00 523.00
5/5/2023 COIF 000460001C D/Credit 97,042.90 903.65 0.00 903.65
5/11/2023 Ashton St Peters Spiritual Dev
Manshead Pastoral Care
BACS
BACS
94,042.90 0.00 3,000.00 Schools 3,000.00
5/11/2023
5/22/2023
5/31/2023
5/31/2023
5/31/2023
85,042.90 0.00 9,000.00 Schools 9,000.00
ADC(Salary) S/O 84,519.90 0.00 523.00 523.00
COIF 000460001T D/Credit 84,604.65 84.75 0.00 84.75
COIF 000460002T D/Credit 84,622.88 18.23 0.00 18.23
COIF 000460003T D/Credit 90,832.13 6,209.25 0.00 6,209.25
06/062023 COIF 000460001C D/Credit 91,807.10 974.97 0.00 974.97
6/20/2023 ADC(Payroll/Rent/Admin) S/O 91,284.10 0.00 523.00 523.00
7/6/2023 COIF 000460001C D/Credit 92,269.79 985.69 0.00 985.69
7/13/2023
7/20/2023
Mrs B Seaborn Grant BACS 91,945.79 0.00 324.00 Equipment 324.00
ADC(Payroll/Rent/Admin) S/O 91,422.79 0.00 523.00 523.00
8/4/2023 COIF 000460001C D/Credit 92,512.75 1,089.96 0.00 1,089.96 20,312.24
244.5
8/21/2023 ADC(Payroll/Rent/Admin) S/O 91,989.75 0.00 523.00 523.00
8/31/2023 COIF 000460001T D/Credit 92,074.50 84.75 0.00 84.75
8/31/2023 COIF 000460002T D/Credit 92,092.73 18.23 0.00 18.23
8/31/2023 COIF 000460003T D/Credit 98,301.98 6,209.25 0.00 6,209.25
9/6/2023 COIF 000460001C D/Credit 99,460.30 1,158.32 0.00 1,158.32
9/12/2023 Ashton St Peters Spiritual Dev
Manshead Pastoral Care
BACS 96,460.30 0.00 3,000.00 Schools 3,000.00
9/12/2023 BACS 87,460.30 0.00 9,000.00 Schools 9,000.00 20,556.7
9/20/2023 ADC(Payroll/Rent/Admin) S/O 86,937.30 0.00 523.00 523.00
9/20/2023 Pearl Partridge - Audit BACS 86,287.30 0.00 650.00 650.00
10/5/2023 COIF 000460001C D/Credit 87,437.74 1,150.44 0.00 1,150.44 71.07
10/10/2023 Grout Insurance BACS 87,420.70 0.00 17.04 17.04 244.55
10/10/2023 Grout Insurance BACS 86,975.08 0.00 445.62 445.62
10/20/2023 ADC(Payroll/Rent/Admin) S/O 86,452.08 0.00 523.00 523.00
11/6/2023 COIF 000460001C D/Credit 87,651.98 1,199.90 0.00 1,199.90
11/20/2023 ADC(Payroll/Rent/Admin) S/O 87,128.98 0.00 523.00 523.00
11/30/2023 COIF CO3041214(was 000460002T) D/Credit 87,147.47 18.49 0.00 18.49
11/30/2023 COIF CO3041213(was 000460001T) D/Credit 87,233.41 85.94 0.00 85.94
11/30/2023 COIF CO3041215(was 000460003T) D/Credit 93,529.92 6,296.51 0.00 6,296.51
12/4/2023 COIF CO3041212(was 000460001C) D/Credit 94,692.51 1,162.59 0.00 1,162.59
12/20/2023 ADC(Payroll/Rent/Admin) S/O 94,169.51 0.00 523.00 523.00
12/29/2023 T/BuildingRef Y000220Gro D/Credit 95,864.58 1,695.07 0.00 1,695.0 7
1/3/2024 CCLA Investment 948149 D/Credit 97,062.75 1,198.17 0.00 1,198.17
1/22/2024 ADC(Payroll/Rent/Admin) S/O 96,539.75 0.00 523.00 523.00
2/2/2024 CCLA Investment CO3041212 D/Credit 97,734.05 1,194.30 0.00 1,194.30
2/20/2024 ADC(Payroll/Rent/Admin) S/O 97,211.05 0.00 523.00 523.00
3/1/2024 COIF CO3041214(was 000460002T) D/Credit 97,229.57 18.52 0.00 18.52
3/1/2024 COIF CO3041213(was 000460001T) D/Credit 97,315.64 86.07 0.00 86.07
3/1/2024 COIF CO3041215(was 000460003T) D/Credit 103,621.34 6,305.70 0.00 6,305.70
3/4/2024 COIF CO3041212(was 000460001C) D/Credit 104,733.29 1,111.95 0.00 1,111.95
3/20/2024 ADC(Payroll/Rent/Admin) S/O 104,210.29 0.00 523.00 523.00
3/28/2024 Julie Tipler Land Registry BACS 104,174.30 0.00 35.99 35.99
3/28/2024 Manshead LegacyFund BACS 70,474.30 0.00 33,700.00 Schools 33,700.00
3/28/2024 Manshead LegacyFund BACS 20,474.30 0.00 50,000.00 Schools 50,000.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
Ashton St Peters LegacyFund BACS 20,474.30 0.00 0.00
Manshead LegacyFund BACS 20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
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20,474.30 0.00 0.00
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20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00
20,474.30 0.00 0.00

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 2024, 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:

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:

have not been met; or

Mrs Pearl Partridge DATE ................................ 39 Wallace Drive Eaton Bray Dunstable Bedfordshire LU6 2DF