SARAH BONNELL FOUNDATION REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31" MARCH 2024 CharityNo. 312659
Contents List of Trustees and Advise Generat Power and Application of Income Review of Progress and Achievenrnts Su[nMFlnallC1al Review Independent EJt2miner's Report ArUal accounts 7-12
TRUSTEES AND ADVISERS The names of att the chajityuustees Trdo have acted dwing the cout5e of the financial year ended 31,, March 2024 include: Nominative Governors by the LA Cllr W Vaughan Rev A Easter Nominative Govetnors by Parish ofAll Saints, West Ham N. Pre510n C Alleyne Co-optative Governors Ms D Nadanasiv2n Mr I.Catnpbell Mr B Rumanba Ms N Noorani s T Higgi Ms J CaTneron Contact Name and Addtess for the Charity Ms S2r2h Beaumont Head of GovernJllce Services Newhatn Partnership Working Francis House 760 BJJlang Road Plaistow London E13 9PJ Independent Examinet Anthony Epton BA FCA cfA FaE Goldwins Litnited 75 M2yErove Road West HJnyste2d London NW6 2EG Bankers The G).opetxtive Bank l Balloon Street Manchester M60 IGP
Annual Report for the year ended 31¥t March 2024 Sarah Bonnell Foundation is regutated by a scheme nude by the Board of Education on the 26 October 1909, as altered by schemes made bythe said B0d on the 23 August 1912 and 3 mth 1992 2nd as affected by Atticles of Govemmeni made by the Minisrer of Education on the 17 June 1948" alld in rhe matter of the Chantie5 Act 1960. The Foundaiion is a registered ch]ry, No.312659 General PoTver to make reguJAttons Within the limits prescribed by the scheme, the Governo shall have full power from time to titne to make regulations for the management of the Charity 2nd for the conduct of their business including the summoning of meetings, the appointment of 2 clerL rhe deposit of money at a proper bgJ]k and the cusiody of documenrs. Expenses of management The Governots sh2ll fIt defray out of the income of the Ch]ry all proper costs, Chae5 2nd expenses of 2nd incidenral 10 The admitustrdiion and managemenr of the chariry. Application of income: l) Subject EO payment of the expenses aforesaid, the Governors shall apply the income of the charity in either of the following waiE' a) In promoting education (including social and phisical trainiT@ of girls under the age of 25 tho are resident in the London Borolgh of Newham and the neighbourhood thereof with preference for those are resident in rhe area of the fonner G)unty Bor0 of West H2m and Tr&0 are in need of fila1 a5SiStance, alld in panicu12r, bur without prejudice to the gener31iry of the Eoregoing: in athing to such persons scholarships, exhibitions, buaLleS, tnaintenance allowances or grants tenable at any school, university, college of education, or other institution of further (including professional 2nd technicaD education approved for the pUoSe by rhe Governors. in providing financial assistance, outfits, clothing, tooLs, instnllnents or book ro 2SSiSt such peL3ons ro pUue their education (including rhe study of music and other arts), to undertake travel in furtherance thereof, or to Prepa for or enter profession, trade, occupaiion or service on leaving school, universiry or oiher educational estabbshtnents. b) In or towards providing such special benefits of any land not nonnally provided by the local education authority for any mainiJined school artended by such girk may from tinr to time be agreed berween the Governo of the chIEY alld the Governors of rhe school concerned. 2) Within the limits prescribed bythis scheme the Governo shall have full power to nlles for the awJrd of scholatships, exhibitions, bUarles, rT]ainien8nce allowances and other benefits, including Lules as to the value and penod of tenure of the awards and the qU3Jifications, meihod of ascertainment and selection of candidaies for benefit. 3) The Governo shall have regard to the desirability of consulting the local education authority as to Iheir general action under su&clause (l) of this clause and, rf occasion requwes, a5 10 the educational qualifications of candidates for benefit.
Review of Progress and Achievements for the Year Ended 31st March 2024 l. The Foundation gives a one off buL3ary award of £6,750 to ex-pupi]s from the school undertaking higher education. In 2022/2023 £5,250 paid out. 2. Wl]ole School Reading Book The Foundarion allocated £7,5W towJr& the cost of a Trthole school readiJ]g book programn. The aciuat spend wa5 £7,127. (2022/2023 £7,500). 3. Other one off ite. The Foundation allocated £ 76,757 towards the cost of one off Ite. The actual spend was £49,482. (2022/2023 £21,WQ). Summary Financial Review l. The attached financial statements show Ihe cuent srare of rhe finances. The foundation had a net SuLuS of income over expenditu of £4242 (2022/2023 suylus of £31,830). 2. The investments have performed as follosvs:_ Income received £ 74,789 compared to £70,170 in 20?2/23, an increase of £4,619. Value of investments £1,631,689 cornpd to £ 1,589,406 2022/23, an increase of £42,283. 3. AdMintration support charges of £7,188 have been incurre(L (2022/23 admitratIon support charges of £4,590 were curre(L) 4. An Independent Examiner has examined the accounts and a copy of their report is attached. Trustees, Volunteets and Staff Costs The Foundation does not employ 2ny staff. The trustees receive no remunerauon for their services to the Foundation. The SchooLs Fin2nciat G)nsuttancy Selvice, London Borough of NeTr4un and Goveming Body Suppon Services, Neth3m PartnehIp Working deaj NNith the Ad[nintrail0n of the Foundation on a dayto day basis. Acknowledgements The Foundation wishes to acknowledge the support and professional advice provided by its advisers. roved bythe Board of Trtee5 on... and signed on its beha]f by . TnLStee. T£&LY H1&&1
Independent Examinees Report to the Trnstees of Sarah Bonnell Foundation I report on Ihe accounts of the Trust for the year ended 31,, March 2024, which are set out on pages 7 to 12. Responsibilities and basis of teport As the charity trustees of the Trusi are responsible for the preparation of the accounts in accordance with the requirements of the Charities Aci 2011 ('the ACL). I report in respect of my examination of the Trust's accounts carried oul under section 145 of the 2011 Act and in c2nrying out my examination I have followed all the applicable direciions given by the Chanty Cornmission under section 145(5)(b) of the Independent examinees statement I have completed my examination. I confirm that no material rnatte have come to my attention in connection with the examat10 giving me cause to believe that any material respect: accounting records were not kepi in respect of the Tnl as required by section 130 of the Act. or the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'trne and fair view which is not a matter considered as part of an independent examlliation. I have no concerns and have come across no other n72e in connecrion wilh the examination to which attention should be drawn in this repotT in order to enable a proper understand¥ of the accounts to be reached. AntiionyEpton BA FCA cfA FCtE Goldwins Limited Chartered accountants 75 marove Road West Hampstead London NW6 2EG 16 December 2024
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO. 312659 Statement of Fiftancial Activities (incorporating an income and expenditure account) Fot the Yeat ended 31st Match 2024 Note 2024 2024 2024 2023 Untestticted Capital Untestticted Revenue Total Total Income from: Investment Income Other Inconje Total Income 74,789 74,789 70,170 74,789 74,789 70,170 Expenditure on: Cost of rnising funds Ch2rit2ble activities Total expenditure 7,188 63,359 7,188 63,359 4,590 33,750 38,340 70,547 70,547 Net Income/(Expenditure) 4,242 4,242 31,830 Gains/(losses) on investments 42,?83 42,283 86,775 Net Movement in Fund 42,283 4,242 47,525 (54,945) Fund balance brought forward 1,717,424 127,689 1,845,113 1,900,058 Fund balance cartied fonvard 1,759,707 131,931 1,891,638 1,845,113
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO. 312659 Balance Sheet at 31st Match 2024 Note 31 March 2024 31 March 2023 Assets Investments 1,631,689 1,589,406 Cuttent Assets Debtor BaLances at Bank. Deposit Account cent Account 222,853 105,335 328,188 220,288 71,829 292,117 Liabitities: Amounrs fa]ling due within one ar (68239) (36,410) Net Current Assets 259,949 255,707 Total Assets less Cutrent Liabilities 1,891,638 1,845,113 Net Assets 1,891,638 1,845,113 Funds Capiral funds Revenue funds Total funds 1,759,707 131,931 1,891.638 1,717,424 127,689 1,845,113 Ib Approved by the Board of TrSteeS on... . . ... behalf b and signed on its TVrtey....H7&4 Irrr The notes on page 9 and 12 forni part of these accounts.
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO.312659 Notes to the Accounts for the Year ended 31st March 2024 Accounting Policies a) Basis of preparation The financial siaremenr5 have been prepared in accordance with Accounting and Reporring by awities: Statement of Recommended Practice applicable ro charities preparing the accounts in 2ccord2nce with the Financial Repollg Standard applicable in the UK 2nd Republic of Ireland (FRS 102 - effective l Janw 2015) - ((h2rities SORP FRS 102). The chariry meets the definition of a public benefit entiry under FRS102. Assets and liabilities are initially recognised ar historical cost or transaction value unless otherwise stated in the rekvant accounting policyor note. b) Going concern The tteeS consider that there are no material uncertainties about the charitable companls ability to continue a going concem. The tn]5tees do not consider that there are any sources of estimation uncertainty at the reporting date that have a SIg£1c2nt risk of causing a material adjustmenr to the carrying amounts of assets and liabilities within the nexL reporting period. c) Income Income is recognised Tr&en the charity has entitkment to the funds, any perfomwice Conditio attached to the income have been met, it is probable rhat the income be received and that the amount can be Meured reliably. Fund accounting Unrestricted funds are avait2ble to spend on activities that further any of the pulposes of chariry. Designaied funds unresrricted funds of the chatiry which the trustees have decided at their discretion to sei aside to use for a specific puOse. Restricted funds are donations thich the donor has specrfied are 10 be solely used for Particul areas of the cknitys work or for specific projects being undertaken bythe charity. e) Expenditute and irrecoverable VAT Expenditure is recognised once there is 2 legal or construcuve obligation to make a payment 10 a third pary, li is probable that serclement Trryll be required and rhe amount of the obligation can be rneured reliably. Expenditure is ClSIfied under the following activity headU$. sts of Ing funds cotnprise of trading costs ajd the costs incurred by the charitable company in inducing Ihird parties to tnake voluntary contributions ro it, as well the cost of any activities with a fundraising putpose. Expenditure on chariiable acrivities includes the costs of delivering services and other activiiies undertaken 10 funher the pulposes of rhe ch3riry and their SoCIated support costs. InEcoverable VAT is ch2tEed as a cost agaIl the actlVLty for Th&ich the expenditure was incurred. Listed investments Investmenrs are 2 fonn of basic financial instrutnent and are initially recognised at rheir rransaction value and subsequendy measured at their fair vaLue as at the batance sheer date using the closing quoted market price. Any change in fair value will be recognised in the statement of financiaj activities.
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO.312659 Notes to the Accounts fo¢ the Year ended 315t March 2024 Investment Income 2024 2023 Chasishgtt COIF (Income) M & G Chanbond F]xed Iniere51 (XF M & G ch[fund Bank mieresl Total Investmeni Income 18,581 2,489 51,154 2,565 74,789 18,581 1,649 49,667 273 £70,170 Analysis of expenditure srof rjising chItable fund5 activiiies Basis of allocaiion 2024 Total 2023 Total AWdS to pupils Ourward Bound Coutse Adminisiratlon costs Readg books Therapeuiic Workhops Internacional women's day Birthday Gifi for Every Student Minibus deposit for school jab5 ADT Art Susiainabitityproject Direct Direct 6,750 12,000 6,750 12,000 7,188 7,127 4,884 5,763 5,250 12,000 4,590 7,5C 3,000 6,000 7,188 Dect 7,127 4,884 5,763 Direct Direct Direct 1,350 23,174 945 lJ50 23,174 945 Direci Direct 834 834 532 532 Total expeftditute 2024 7,188 63,359 70,547 38.340 TocaL expenditure 2023 4,590 33,750 38,340 io
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO.312659 Notes to the Accounts for the Year ended 31st March 2024 Investments The investments have been shown in the accoun at market value. No of units Price Market Value ence Other Funds CaA.COIF (Income Fund) CCLA.COIF (Piize Fund) 33,975.70 130.00 2043.26 694,212 2,656 696,868 2043.26 Wider Range M & G Chlfund M & G Ch]bond 59,482.00 62220.00 1456.08 110.44 866,105 68,716 934,821 Total Value of Investments 1,631,689 Quoted Investments 2023 2024 Market value 31,, March 2023 Disposal Net realised gain Net unrealised gains Market Value 315t March 2024 1,589,406 42,283 1,631,689 Creditors (Amounts falling due within one yeat) 2024 2023 Trdde credito 68,239 36,410 li
SARAH BONNELL FOUNDATION REGISTERED CHARITY NO.312659 Notes to the Accounts for the Year ended 318t March 2024 Analysis of net assets between funds Unrestricted capital funds 2024 Unrestricted Restricted revenue funds funds 2024 Total funds 2024 2024 Funds Balances at 31 Match 2024 are represented by Investments Curreni assets Current liabilities Total Net se[S 1,631,689 128,018 1,631,689 328,188 68,239 1,891,638 200,170 68,239 131,931 1,759,707 Analysis of net assets between funds 2023 Untestricted capital funds 2023 Unrestricted Restricted tevenue funds funds 2023 2023 Total funds 2023 Funds Balaftces at 31 March 2023 ate reptesented by Investments cllent Sets allrent It2bilities Tot21 Net Assets 1,589,406 128,018 1,589,406 292,117 36,410 1,845,113 164,099 36,410 127,689 1,717,424 12