The Ashford Grammar School Endowment Trust Trustee’s Annual Report
| CharityName | Ashford Grammar School Endowment Fund |
|---|---|
| Registered charitynumber | 307842 |
| Charity’s Principal Address | The Norton Knatchbull School Hythe Road Ashford Kent TN24 0QJ |
| Bank | Lloyds Bank plc 81 High Street Ashford Kent TN24 8SS |
Members Register
EX OFFICIO
| Name | Byvirtue of |
|---|---|
| Michael-John Knatchbull | Ownershipof the Mersham Hatch Estate |
| Ben Greene | Headteacher of the School |
NOMINATED TRUSTEES
| Name | Nominated by | First appointed | Term of Office | Term end |
|---|---|---|---|---|
| Philip Sibbald | Parochial Church Council (“the PCC”) of the Ecclesiastical Parish of Ashford Town |
11thNovember 2020 | 4 years | 10thNovember 2024 |
| David Race | The Owner of the Mersham Hatch Estate |
28thSeptember 2021 | 4 years | 27thSeptember 2025 |
TRUSTEES APPOINTED BY THE TRUST BOARD
| Name | First Appointed | Term(s) of Office | Term end |
|---|---|---|---|
| Richard Fraser _(Chair) _ |
3rdMarch 1999 | Extended by further terms of 4years |
2ndMarch 2023 |
| Simon Hallam (Vice Chair) |
6thNovember 2014 | Extended by a further term of 4 years |
5thNovember 2022 |
| Jim Small | 28thSeptember 2021 | 4 years | 27thSeptember 2025 |
| Vacant |
Structure, Governance & Management
| Type of Governing Document | Scheme revised 16thJune 2021, lodged with and approved by the Charity Commission and adopted at the Trustee’s meeting on 28th September 2021 |
|---|---|
| Constitution | Unincorporated |
| Trustee Selection | Trustees are appointed or reappointed on expiry of their term for periods of 4years. |
| Objectives | The provision of items, services and facilities for the Norton Knatchbull School which are not normally provided out of public funds |
| Summary of the main activities undertaken for the public benefit in relation to these objects |
The Endowment Trust has provided loans to the school for the purposes of enhancing facilities. Current loans are as follows: Sport shall Loan £360,000 over 50 years. No interest. Repayment to be completed by 1/3/56 Pipe Loan £60,000 over 10 years. 2% above bank of England Base rate. Repayment to be completed by 1/3/25 Typically, the Endowment trust provides prizes for students, though none weregranted inyear. |
| Statement of the Charity’s policy on reserves |
To hold a basic level of unrestricted funds for the benefit of the school; ensuring sufficient funds are available for the Objective and for Prizegiving. |
| Details of funds materially in deficit |
None |
| Further financial review | The main source of funds this year has been the repayment of loans from the school. Additionally, £10,000 has been received in respect of school fundraising. |
| Future plans | To consider applications for funds from the school on their merit and decide accordingly in accordance with the above-mentioned Objectives. |
Declaration
The trustees declare that they have approved the trustee’s report above.
Signed on behalf of the charity trustees
| Signature | ||
|---|---|---|
| Full name ~~a~~ |
Simon Hallam | |
| Position held ~~a~~ |
Vice Chair | |
| Date ~~a~~ |
24thFebruary2022 |
Independent Examiner’s report on the accounts
| Report to the trustees of | The Ashford Grammar School Endowment Trust |
|---|---|
| On accounts for theyear ended | 31stMarch 2021 |
I report to the trustees on my examination of the accounts for the year ended 31[st] March 2021.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the Act)
I report in respect of my examination of the Trust’s accounts carried out under S145 of the Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under s145(5)(b) of the Act
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respects:
-
Accounting records were not kept in accordance with section 130 of the Act; or
-
The accounts do not accord with the accounting record.
I have no concern and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
| Signature | |
| Full name | Mason Willis |
| Relevant professional qualification held |
AAT Qualified |
| Address | Academy Finance Ltd, Yew Tree House, 189 High Street, Milton Regis, Kent, ME102BB. |
| Date | 15 February2022 |
| Receipts and Payments Receipts |
Unrestricted £ |
Restricted £ |
Total Funds £ |
|---|---|---|---|
| Bank Interest | 14 | 14 | |
| Fund raisingfor School | 10,000 | 10,000 | |
| Loan Repayments | 26,800 | 26,800 | |
| Loan Interest Received | 4,490 | 4,490 | |
| Total Receipts | 31,304 | 10,000 | 41,304 |
| Payments | |||
| None | - | - | - |
| Net Receipts/(Payments) Cash at Bank |
31,304 | 10,000 | 41,304 |
| Bal bfwd | 62,155 | 62,155 | |
| Inyear movement | 31,304 | 10,000 | |
| Bal c/fwd | 93,458 | 10,000 | 103,458 |