## **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<br>Hythe Road<br>Ashford<br>Kent<br>TN24 0QJ|
|Bank|Lloyds Bank plc<br>81 High Street<br>Ashford<br>Kent<br>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<br>(“the PCC”) of the<br>Ecclesiastical Parish of<br>Ashford Town|11thNovember 2020|4 years|10thNovember<br>2024|
|David Race|The Owner of the<br>Mersham Hatch Estate|28thSeptember 2021|4 years|27thSeptember<br>2025|



## **TRUSTEES APPOINTED BY THE TRUST BOARD** 

|**Name**|**First Appointed**|**Term(s) of Office**|**Term end**|
|---|---|---|---|
|Richard Fraser<br>_(Chair) _|3rdMarch 1999|Extended by further<br>terms of 4years|2ndMarch 2023|
|Simon Hallam<br>_(Vice Chair)_|6thNovember 2014|Extended by a further<br>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<br>Charity Commission and adopted at the Trustee’s meeting on  28th<br>September 2021|
|---|---|
|Constitution|Unincorporated|
|Trustee Selection|Trustees are appointed or reappointed on expiry of their term for<br>periods of 4years.|
|Objectives|The provision of items, services and facilities for the Norton<br>Knatchbull School which are not normally provided out of public<br>funds|
|Summary of the main activities<br>undertaken for the public benefit<br>in relation to these objects|The Endowment Trust has provided loans to the school for the<br>purposes of enhancing facilities.  Current loans are as follows:<br>Sport shall Loan £360,000 over 50 years. No interest.  Repayment to<br>be completed by 1/3/56<br>Pipe Loan £60,000 over 10 years. 2% above bank of England Base<br>rate. Repayment to be completed by 1/3/25<br>Typically, the Endowment trust provides prizes for students, though<br>none weregranted inyear.|
|Statement of the Charity’s policy<br>on reserves|To hold a basic level of unrestricted funds for the benefit of the<br>school; ensuring sufficient funds are available for the Objective and<br>for Prizegiving.|
|Details of funds materially in<br>deficit|None|
|Further financial review|The main source of funds this year has been the repayment of loans<br>from the school.<br>Additionally, £10,000 has been received in respect of school<br>fundraising.|
|Future plans|To consider applications for funds from the school on their merit and<br>decide accordingly in accordance with the above-mentioned<br>Objectives.|





## Declaration 

The trustees declare that they have approved the trustee’s report above. 

Signed on behalf of the charity trustees 

||Signature||
|---|---|---|
|Full name<br>~~a~~||Simon Hallam|
|Position held<br>~~a~~||Vice Chair|
|Date<br>~~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<br>qualification held|AAT Qualified|
|Address|Academy Finance Ltd, Yew Tree House, 189 High Street, Milton Regis, Kent,<br>ME102BB.|
|Date|15 February2022|





|**Receipts and Payments**<br>**Receipts**|**Unrestricted**<br>**£**|**Restricted**<br>**£**|**Total Funds**<br>**£**|
|---|---|---|---|
|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)**<br>**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**|