**REGISTERED CHARITY NUMBER: 310397**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR**
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|13|
|**Detailed Statement of Financial Activities**||14||
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The general objectives of the Foundation are:-
i) to promote the education of persons under the age of 25 years, in need of financial assistance, resident in the area of benefit; and
ii) to assist persons who are under the age of 25 years, in need of financial assistance, resident in the area of benefit; and preparing for, entering or engaged in any profession, trade, occupation or service by such means for their advancement in life or to enable them to earn their living as the Trustees think fit.
iii) The Trustees must have regard to furthering education in accordance with the principles and doctrine of the Church of England
iv) Grants: during the year 49 grants were made to individuals and 6 were made to institutions.
The following grants were more than 5% of total grants:
||2022|2021|
|---|---|---|
||£|£|
|Beaumont Community Primary School|4,240|-|
|S Edmundsbury & Ipswich MAT|3,718|-|
|St Mary's C of E School|-|5,220|
|Hadleigh Community Primary School|5,940|-|
|South Suffolk Learning Trust (Hadleigh High School)|5,000|-|
|Hadleigh Sea Scout Group|3,000|-|
## **Future Plans**
The Charity will continue to maintain the grant programme in the future.
## **Public Benefit**
The trustees confirm that in setting the objectives and activities of the charity that they have given careful consideration to the Charity Commissions public benefit guidance.
The object of the Charity is to hold investments and apply the income to assist persons under the age of 25 years, in need of financial assistance, resident in the area of benefit.
The Charity carries out these objectives by carefully considering each grant application, and awarding grants which meet the criteria set out in its objectives.
## **Grants**
The policy of the Trustees is to consider applications made to them by individuals and organisations, ensuring that they meet the criteria as laid down by the Trust Deed.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
Surplus cash, not required for immediate use is transferred to COIF and held on their investment account.
## **Reserves policy**
It is the Trustees' intention to maintain sufficient reserves to meet the payment of grants as they are made by the Charity.
Page 1
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Ann Beaumont's Educational Foundation is an unincorporated charity formed under a declaration dated 5 August 1701. It is now governed by a Charity Commission Scheme dated 8 January 1999 as amended by special resolutions dated 5 September 2003 and 20 September 2007.
## **Organisational structure**
When a vacancy occurs for a co-opted Trustee the remaining Trustees seek to appoint an individual with experience, which they feel, will be of benefit to the Charity and who will be acceptable to the Charity Commission.
On appointment the new Trustee is given copies of the original Trust Deed and of the latest Annual Report and Accounts. There is no formal induction and training programme.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The charity has conducted its own review of the major risks to which the properties are exposed and systems have been established to mitigate those risks. The implementation of these procedures minimises the risks. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity, and take account of the latest legislation and regulations.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
310397
## **Principal address**
C/O Mrs Glenys Morris 70 Ann Beaumont Way Hadleigh Suffolk IP7 6SB
## **Trustees**
Mr M Cork Mrs L Turner Mr J Wilding Mrs S Monks Ms A Wiltshire Rev J H Delfgou Mrs J J Janas Mrs G Pryor (appointed 22.7.21)
## **Independent Examiner**
Mr M A Wallace TEP, CTA, FCA Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
## **Bankers**
Barclays Bank plc Leicester LE87 2BB
Page 2
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Rev J H Delfgou - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **Independent examiner's report to the trustees of Ann Beaumont's Educational Foundation**
I report to the charity trustees on my examination of the accounts of Ann Beaumont's Educational Foundation (the Trust) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr M A Wallace TEP, CTA, FCA Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
Date: .............................................
Page 4
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Grants payable
Other
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
-
60,400
60,400
11,308
36,085
1,627
49,020
54,067
65,447
1,574,330
1,639,777|Restricted
fund
£
-
-
-
-
-
-
-
45,836
45,836
529,328
575,164|2022
Total
funds
£
-
60,400
60,400
11,308
36,085
1,627
49,020
99,903
111,283
2,103,658
2,214,941|2021
Total
funds
£
250
58,414|
|---|---|---|---|---|
|||||58,664
5,666
17,036
1,122|
|||||23,824
190,302|
|||||225,142
1,878,516|
|||||2,103,658|
The notes form part of these financial statements
Page 5
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **BALANCE SHEET**
## **31 MARCH 2022**
|Notes
**FIXED ASSETS**
**Investments**
Investments
7
Investment property
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
11
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
677,750
905,000
1,582,750
1,529
64,419
65,948
(921)
65,027
1,647,777
(8,000)
1,639,777|Restricted
fund
£
567,164
-
567,164
-
-
-
-
-
567,164
8,000
575,164|2022
Total
funds
£
1,244,914
905,000
2,149,914
1,529
64,419
65,948
(921)
65,027
2,214,941
-
2,214,941
1,639,777
575,164
2,214,941|2021
Total
funds
£
1,144,011
905,000
2,049,011
1,466
54,310
55,776
(1,129)
54,647
2,103,658
-
2,103,658
1,574,330
529,328
2,103,658|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Rev J H Delfgou - Trustee
The notes form part of these financial statements
Page 6
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirement of paragraph 33.7.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at the most recent valuation. Any realised or unrealised gains from changes in market value are transferred to reserves.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 7
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **2. INVESTMENT INCOME**
|Rental income - 12, 14 &16 Bridge Street
Rental income - Land and wayleave
Dividends|2022
£
25,715
1,194
33,491
60,400|2021
£
25,038
1,404
31,972|
|---|---|---|
|||58,414|
## **3. RAISING FUNDS**
## **Investment management costs**
|**Investment management costs**|||
|---|---|---|
|Insurance
Property management fees
Property repairs and cleaning|2022
£
2,096
2,555
6,657
11,308|2021
£
2,274
2,422
970|
|||5,666|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Clerk
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
250
Investment income
58,414
**Total**
58,664
**EXPENDITURE ON**
Raising funds
5,666||2022
1
Restricted
fund
£
-
-
-
-||2021
1
Total
funds
£
250
58,414|
|---|---|---|---|---|
|||||58,664
5,666|
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Page 8
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
fund
£
£
**Charitable activities**
Grants payable
17,036
-
Other
1,122
-
**Total**
23,824
-
Net gains on investments
101,596
88,706
**NET INCOME**
136,436
88,706
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,437,894
440,622
**TOTAL FUNDS CARRIED FORWARD**
1,574,330
529,328
**7.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2021
Additions
Revaluations
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021||Total
funds
£
17,036
1,122
23,824
190,302
225,142
1,878,516
2,103,658
Listed
investments
£
1,144,011
1,000
99,903
1,244,914
1,244,914
1,144,011|
|---|---|---|
||||
||||
||||
Page 9
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **7. FIXED ASSET INVESTMENTS - continued**
||2022|2022|2021|
|---|---|---|---|
||£||£|
|COIF Accumulation shares|25,510||22,843|
|COIF Income shares|1,219,406||1,121,168|
|||||
||1,244,916||1,144,011|
|||||
|||||
|Unrestricted funds|677,751||586,742|
|Restricted funds|567,165||559,503|
|||||
|||||
||,244,916||1,144,011|
|||||
|||||
|Cost|453,021||452,021|
|||||
|There were no investment assets outside the UK.||||
## **8. INVESTMENT PROPERTY**
|**INVESTMENT PROPERTY**||
|---|---|
|**FAIR VALUE**
At 1 April 2021
and 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|£
905,000|
||905,000|
||905,000|
Land and buildings comprise properties at 12, 14 and 16 Bridge Street, Hadleigh and 12.89 acres of agricultural land, also in Hadleigh. The properties were professionally re-valued on 2 October 2015 by Morton Smith and Girling, Estate Agents.
## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||2022|2021|
|---|---|---|
||£|£|
|Prepayments and accrued income|1,529|1,466|
Page 10
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||2022|2021|
|---|---|---|
||£|£|
|Accrued expenses|921|1,129|
## **11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
In 2006 £25,000 of funds were used from the restricted fund with the permission of the Charity Commission. This is being repaid in annual instalments of £1,000.
As at the year end the future instalments amounted to £8,000.
## **12. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1.4.21
£
1,574,330
529,328
2,103,658|Net
movement
in funds
£
65,447
45,836
111,283|At
31.3.22
£
1,639,777
575,164|
|---|---|---|---|
||||2,214,941|
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|60,400|(49,020)|54,067|65,447|
|**Restricted funds**|||||
|Restricted fund|-|-|45,836|45,836|
|**TOTAL FUNDS**|60,400|(49,020)|99,903|111,283|
Page 11
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.4.20
in funds
£
£
**Unrestricted funds**
General fund
1,437,894
136,436
**Restricted funds**
Restricted fund
440,622
88,706
**TOTAL FUNDS**
1,878,516
225,142
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
58,664
(23,824)
101,596
**Restricted funds**
Restricted fund
-
-
88,706
**TOTAL FUNDS**
58,664
(23,824)
190,302
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.20
in funds
£
£
**Unrestricted funds**
General fund
1,437,894
201,883
**Restricted funds**
Restricted fund
440,622
134,542
**TOTAL FUNDS**
1,878,516
336,425|At
31.3.21
£
1,574,330
529,328
2,103,658
Movement
in funds
£
136,436
88,706
225,142
At
31.3.22
£
1,639,777
575,164
2,214,941|
|---|---|
Page 12
continued...
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|119,064|(72,844)|155,663|201,883|
|**Restricted funds**|||||
|Restricted fund|-|-|134,542|134,542|
|**TOTAL FUNDS**|119,064|(72,844)|290,205|336,425|
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
Page 13
**ANN BEAUMONT'S EDUCATIONAL FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Rental income - 12, 14 &16 Bridge Street
Rental income - Land and wayleave
Dividends
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Insurance
Property management fees
Property repairs and cleaning
**Charitable activities**
Grants to institutions
Grants to individuals
**Support costs**
**Management**
Computer expenses
Postage and stationery and office costs
**Governance costs**
Wages
Accountancy
Total resources expended
**Net income**|2022
£
-
25,715
1,194
33,491
60,400
60,400
2,096
2,555
6,657
11,308
23,067
11,278
34,345
-
290
290
2,417
660
3,077
49,020
11,380|2021
£
250
25,038
1,404
31,972|
|---|---|---|
|||58,414|
|||58,664
2,274
2,422
970|
|||5,666
6,231
8,930|
|||15,161
30
45|
|||75
2,292
630|
|||2,922|
|||23,824|
|||34,840|
This page does not form part of the statutory financial statements
Page 14