GISTERED CHARITY NUMBER.. 528697 REPORT nF TIIE 1'RIISTLES AND UNAUDII'F.D FINAP4CIAI, STATEMENTS FOR THE YFAR F.NDFD31 DKCFMBER 2023 FOR VILLONCI.FY LDIIC.A-I'IONAL Tr'OIJNDATION
FTLLONGLEY EDUCATIONAL DOIINDATION COYTENTS OF THE FINAYCIAL STATEMENTS RTH YEAR 31 DFC.E 20 Page Reterence nd AdmiDi5tr4tive Detail Report of the Tru$te¢s IRdep¢ndent ExamiNer'$ Rcport Statement of Financial Activities BalAn¢e Sbe¢¢ Notes to the Financial Slitemtnts Detsfftled Stit¢ment of Fin#n¢i81 Activiti 12
FII.I,ONC.LEY EDUCATIONAI. D'OIINDATION
RFfrTr:RF.NC.F, AND AI)MINISTRATIVE DLTAILS
FOR THLI YLIAR EIYDED31 DEC.EMBLR 2023
TRIISTF.ES
Mrs 8 M Oni0115
A R Pargettrr
Mrs F A P¥aco¢k
mr 11 Bddham
R Llamelt
Rev S Medl¢y (appointed 13.11.2023)
D Fliimphreys
PRINCIPAI, AI)IIR WSS
CIO CiTrcks Lloyd
RivLrsley Flousc
.É)ion Rt)(Id
Nuneatt)ii
IllJrwi¢kgliire
C,'V I15-I'X
REGlS'fF.RbD CIIAIIITY
N1115}R
528697
CLLRK
Mathew J
FILLONGLEY EDUCATIONAL FOUNDATION REPORI" OF TFlb l-RIISI'EES FOR THKYEAR ENI)ED 31 1)FCLIMBER 2023 'n)¢ trust¢¢s preset]t their re)rt with the finanbL statErnBnts ot. the charity lor thr yew ended 31 DecembEr 2023. Th¢ lrnstees havL adopted th¢ provi8lOt15 01. AGGouThting and Rcportink by Ch¥rities.' StateNnent of K¢Gomm¢nded Practicc applibable to ¢haTities pr¢paring their aL¢ounts in aLLordanGL with the Financial Repvriin& Stdndard applicablE in tht UK &Dd Republic of Ireland (FRS 102) (effective l Janllary 2019). AC14LEVEMEThT AND PERFORMANCE This year thE ¢harity wos able to gist 28 young pcople with grants towards tht cost of their education al a cost t)f £18,3.14. Giants to the Fillongley Villag¢ Hall and other oiganisations in Fi]lonlEY aod CDventsy imoLmted to £5.752.. FINANCIAL RbVIWW IDve5tmenl poliLy Endvwment fvnds are invested in property and with tlie c.harities Ofticial Invesiment Fund. Current asset inve51m¢iits are depositrd with the C¥ntral Board ot Financ¢ of the Church ol'Eng]and. Reserves policy 11 is the poli¢y of the trustees to apply the chaiity's fr¢¢ rcserve5 towards its obj¢¢ts oncc suitable benefi¢i4ries are identified. Durints the year the income consisted of Tents investment incoTn¢ totalliThg £39,735. together with oiher income received in tlie year of £4,877. Property ro%ts amounted t(> £270 whilst ch&ritable activili¢s ¢os¢ a tol'al of £20.532 Ib6iTbg granis of £16,786 support wsts of £1 ()34 and gov¢¢nance cosls of £1.812. The net income for th¢ yeaT th¢reforE amountcd to £23,810. The Designated Ordinary Repairs FLd remains unchanged at £50.000. The trn5t¢¢s ar¢ of the opinion that the valiic of investmem pfopLrti¢s, slill hand. inrlvding the larbd r¢tained at Walkers Farni, at 31 DeMber 2023 rcrnained at £720,700. Otlier invcstmeTrts, being CharitlL8 okfici&l IDV¢5ttn¢nt Fund Income Shar£5 IllLre&$cd iii va]ue durlllg the year and valucd at £l,Q81,JOl. The uiirealisrd gain ot'£9(>,999 lias be¥ii credited to ihe Endowmellt Fund. The Endowm¢nl I,"und h&$ in¢re&%ed over1 froTll £1,711,002 to £1,802.001. s-rRUC'fuRE, GOVERNANCE AND MANAC.EMENT trueture Governa¢t Ind mangement The chwity is ¢onirolled by its governinB document. a deed of tru8t atsd ¢onstLtutes an uninLorporated chiwity. 'rhe charity established by a scheme of ihe Board of Education 31 July 1912 a5 varied by a 5¢h¢me made by the Secrtlary of st for Education and Science on 6 July 1970. Tlie truste¢5 havt full pow¢r within the limits prescribed by thE SL'hemes to rtiake rule5 for the manasJem¢ftl r)f the charity and the cunduct of its business. The trus¢¢¢s are appoijjted by th¢ b0d of tTUStees and SCTVC for fivc y¢ars after which period they may put thernsclves Forward for re-appointtnent. The trustees who have setve¢J throughoiit the year and to the d¢ ot'this r¢port are showi Dnpage l. The indu¢tiOn PD)cess for any newly appointed trust¢e ¢ompri$es aTh initial Ktteeting with the other trDslees lo explain their re&pon5ibiliti¢s and th¢ obje¢tives of tbe charity. Risk rnana¥eThetkt rhe trust¢es have & duty to i(kntify and revi¢w Ihe risks to which the Ch.LY is expos¢d urtd to Ensiir¢ appropriat¢ controls are in plaLe tt> provide r¢asondble assuranLe 2LT&illSt Iraud ¢rr()r. Approved by order of the board of trustees on . and signed on its behalf by,. Mrs S M Onions- Trustee Past 2
INDEPENDF.NT CI XAMINFR'S Rb POR"I'"I'O TIIE'fRUSTEFS OF FILLI)Nfl.FY liDUI:ATION.4L fi0LNDATIO Indepen(lent exaininer's reihort to the trust¢es of Fillonglcy Ediieational Foundation I report to iht Gharily tretS on my tX1LItIon <11. IhL accouiits of fillon¥Tley Educational Foundion (the Trust) for the yLar ended I l D¢LcmbLr 2027. Respi)nsibilitit$ gn(I basis of rnport As (he Lharity trusie¢s of ihc Tru%t yL)u are respDnsiblc for the preparation of the accounts in acLtsrdartLe with the requir¢mcThts ot the Charities Act 2011 (Yhe A¢ti. I reporl iii respect of my ex&minatioii of the Tru5Vs arcDUfits carried out uiider Section 145 of'the Act and in carry¢nu out my exainination T hav¢ tollowed applicable l)irectinn% by th¢ Charity C(Jtnmission under Section 145(.5){hl af the Ail, IndepeTJdent cx2mintr's tht¢m¢nt I hav¢ ¢omplctcd my exaniinatioii. I confirm thai no matcrial Inuttcr5 liavc canic to my attention in ei)niie¥ti()n with th¢ exa)Kination &tiving tne Gau5C to bclieye Ihat in any niat¢rial reipeLt'. acctsuntingy re¢ords were not kept in resp¢¥i of Ili¢ Trust as required by Section 130 of the Act: or tlIL accouTits do not ac¥ord with tliose Tccords. or the aL¢ounts do not comply ivith tlie appli¢abl¢ YequTrerneiit5 concerning the forn and ¢OTlt¢nl of #G¢oullts sel out iii Ihe C,haritl¢8 IAc¢ouiits aiid Reports) RLgul*ion£ 2008 othei. than any requir¢m¢nt that the aicfrunis giv¢ a true and fair view whicli 18 not a fflatter considered as part ofr-an independent examiLiation. I h&v¢ no ¢tsnb¢Tll5 und havL coine a¢ross no other matters in conncLtion with the examination tt> which attention 8liovld be drawn iii this re>r1 in oi'dcr tD ¢nable a propL'r underslandingy ol'the aGCOUnts lo be reached. Mr M Shabbir FCA I,"CC'A Date.. Pa&Tre 3
FILLONC:LEY EDUCA'I'IONAL FOIJNDA'rioN sTATE]yT OF f41NAc1AL.lcl.1vjT1Es DOR THE I'EAR gNI)LD 31 DbCEMBER 2023 2023 2022 1.olal fllnds Unr¢stri¢ted fuDd5 Endowtn¢nt fund nds INC'OML AND EP4DOWMEP4TS FROM Other tradillg aGtivities Investment income Other income 19C> 3¢).$45 4.877 190 39,162 4,877 Totsl 44.612 44.612 39,352 EXPENDITURE ON RtlSllltsT funds 468 468 255 Ch#ritable #ctivities Grants payable (iovernance Losts Support wsts 15.331 3.U69 1,934 12,200 1.643 4,490 i.069 20,802 20,802 18,.fj811 Nei gain(1SsesI Dll inV¢Stm¢nts 90.999 90,999 (130.i061 p4kn'r INCOMbllFXPENDITURE) 23,810 90,999 114,809 1109,542) REC.ONC.ILIATION OF FUNDS Tota] funds brought forward 170219 1.711,002 1,881.221 1,990,761 TOT AL FUNDS CARRIED FORWARD 194.029 1,802,001 1.996,030 1,881,221 CONTINUING OPERATIONS All of the above r¢suli$ are derived from con(iDuing a¢liviLies. All gsains and10$8¢s r¢cogni5cd in the peri()d in¢luded above. I'he tLOtES form part of these finan¥ial statern¢ntS Page 4
FILLONGLCIY bDUCATIONAI. bOUNDATION HALAf4C.b: SHL>:T 31 DEI.'EMBER 2023 2023 2022 Nolcs FIXED ASSI:I'8 ItivL%tmenls 1,802,001 ,711.002 C:IIRRF.NT AS.sw-rs l)LbioT. (.h 4t bank 45 195,059 458 195,517 171,509 CRfDITORS AlOUntS falling due withiTi one year 11,4881 {1,290) NET C'URRENT ASSFTS 194,029 170,219 TOTAL ASSEI'S LE&$ C.IIRIIF.NT LIAIJII,ITIF.S 1,996,0.10 '-I' ASSFI'S 1,996,030 I,R81.221 PUNDS Unr&8trictcd funds Fi ndoMYn¢nt fund 194.029 1,802.001 J70,219 1.711,002 'I'OTAL fr UND&* 1,996,030 1,881.221 Thc Iin8n¢ial staicineiits were approv¢d by the t408rd of Trustccs aiid authoris¢d for ibSUL aiid wcre stdrv led tin ils. l)ehaifhy'. S M Onioiis- l-rust¢¢ The iiotes forin part of thesL finanLial statements
FILLONGLEY EDUCATIONAL DOUNDAIION NOTES TO'fHE blYAfCIAL STA1'EMF.NTS FORI'HE YEAR ENI)S'D 31 DF.C.'EMBER2023 ACCOUN'I'ING POLICIKS B&sis of preparing the fin&n¢ial ytaternents Th¥ charity con%titule5 a publiG b¢nefJt entity as defiTred by FIIS 102. The finanLial stalEments have beell prepar¢d in accordaoce with A¢Lounting and Reportjll8 by Chariiies.. Siatement of Recomrnended Prdtyti¢¢ applicable to charities preparing their account% in a¢¢tsTdance with the I',1jn¢laI RcrtIng Standard Jpplicablc n the UK and Republic of Ir¢land IfRS 102) igSllLd in October 2019, the fin(inLial Reportinb Stdndard applicable sn the United Kingdom an(f Republic ¢)r Irelcind IPRS 1021, the chitIeS Act 2011, the Companies Act 2006 and UK G¢ner8lly Accepted Pra£tic¢. I'he Financial StatemtDt5 do not include & cash flow statement on the grounds that it is applying FRS 102 Section IA. The finanLial statements are prepared on a going ¢on¢em basis Linder ih¢ historical LO8t convention. modified to in¢lud¢ certain items at fair v3lu¢. The fJnanci&l siatcm¢nts 3fL' prtpared In sterling whiLh is the fun¢tional currency of the ¢h&riry. 'rhe significant a¢countin8 poli¢i¢s applied in the prepaTation uf thcse finwi¢ial ytalements are set oui below. Th¢se rK>li¢ics have been consistently Rpplied iv y¢ars presented urde55 othcrw15E Stated.The financial statrments are pr¢pared in sterling whiGh is th¢ friinctional curr¢nGy of thc charity. IAtome All income is rewgw3¢d in the Stat¢Tn¢nt of FinclaI ActiviÉiLs (Trnc¢ the charity has ¥ntitl¢ment to the funds, it is probable tbat the incom¢ will be rec¢ived and the 4n)ounl can be m¢asurEd trli&bly. Investm¢nt in¢ome is earned through holdinbk a5scts fi)r investment purwses such as shar¢5 and rElltal propcrty- It inLlude$ dividends and renial irt¢ome. Whtre it 18 tKit pra¢tlCdl tts id¢ntify inve5tffl¢nt tnanagenicnt costs incurred wilhin a scheme wilh reOnable ae¢urwy Ib¢ investent income 15 reported ntt 01. thLsL costs.. It is included when the amuuni Can be measured reliably. Dividend and rental income 18 reeobynised us Ibe ¢harity's ribkht to reccive payment is established. Other tradiiig J¢tivili¢5 are recogmised when the charity is entitled to the monies. Fxpendilure Liabilities ar¢ retyognised as expenditvrE a5 500n as there is a lekal or ¢ohstru¢tive obljLation commitiing thc charity to that expenditur¢. it is probable that a transftr (If LLonomic benefits will be requircd iii seitlemeDt and the amount of the obligation c&1 be measured reliably. ExpendilL)re is accouated for on an ac¢ru8ls basts and li&s beEn classified under beadings that aggIr¢&J¢its all cost related to thc cat¢gory. Wher¢ w$ts cannot be direcijy attributed to p¥rti¢uldr h¢adings they have been ailocdted to a¢tiviti¥s (yn a basis consTStent with thc use ol. resources. Grants offered subject to ¢onditions which have not b¥en met at the y¢ar ¥nJ d&te are no a coJnilliimcrt biit not 4c¥ru¢d expenditure. Tax#tlon The charity 18 an ¢xempt charity wKthin the mtaning of 8chedule 3 of the Chaii¢i¢S Acr 2011 and is considered to Pas5 the ttst5 Set out in PaTa8raph I S¢hedulL 6 Finiin¢e Act 2010 ftnd thercfore it m¢¢t5 thL delinition tsf a charitable company for UK corporation tsx purposts. Vund gCCVUllting Unrestrkcted funds can be used in aLcoTdanr¢ with the Lhariiable objeLtive% at th6 discretion ot the tru$te¢s. Restricted fund8 can only be used for particular r¢striLted purposLS Wlthin the objects. of the charity. ReslriLtions arisL when specified by the donor or when fundy are raised for particuSar restrict£d Purposes. Further explanation of the rUre arhd purpose i)f eacli luild is in¢luded in the note8 ts) the finhncial statemcnLs. Page 6 ontinu¢d...
FILLONGLfiY LDIJCA'fioNAL bOIJNDATION NOTESTO'I'IIE FIPIANCIAI. S'TATEMENIS- ¢ontinu¢d FOR TFIB VEIAR ENDED 31 DEC.FMBKR 2023 OTIIF.R TRADINC. Acrivi'i-Iv.,s 2023 2022 Wayleaves and sundry iD¢oni¢ 190 190 INVESI"MENT 1Tr4C.OMF. 2023 2022 Rent8 rectivcd Iiivesim¥nt inLome 9,5.36 9.5_15 29,627 39.545 39.162 TRusfF.E%' REMUNERATION AND BFNW&I'rs Ihe Irustecs did nol rLccive any r¢muneration 111 tlic y¢ar. 'fh¢ tru51ees meeting c08ts atnount to £198 12022 'I'h¥rc were no ielat¢d party Lriiiisa¥ions ID ih¥ y¢4r. C_'OMPARA'fivF.s FOR'I'HF..S'I'ATbMb'NTOP lA(,1A1, Acfivii'iFS Unrestri¢ted nds Endowment fijnd Totsl fndS INC.OMF AND ENDOWMEN'I'S f4R()M Othcrtrading activitics liii'LStmnt income 190 39,162 190 39,162 Total 39,352 b xpgNDI'fiiRL Raising funds 255 255 C'h#ritAbl¢ #Ltivities Grunt% payable CJov¢rnan¢e GOSIS Support Logis 12,200 1.643 4,490 12,200 4.4l)O Tat#l 1 $.588 18,581 Nct LTaithsl{10SSL'5} invLstrnen15 1130,3061 {130,306) NF.'r iNC".OMFJ{EXPENDITII RV.) 20,764 (13U,306) (109,542) RF.CONe.11.IATION nF' ,UNDs .1 vtal funds bri)uglil li)rwariJ 149,455 L,841,308 1,990,763 TOTAL f4UNDS C.ARRIEI l) f4ORWARD 17Q,219 1,711,002 1,881,221 Pagie 7 continued...
VILLONCLLY EDUC.A'I'IONAL FOVNDA'I'ION Tr40TES'fo THE FIIYANCIAI. SI'ATEMLNIS- continued FOR TFIE YEAR ETrIDbD 31 DECEr*lBkR2023 FIXED ASSET IMIESTMENI'S Inve5ttnents MARKE"r VALUE At l Jgnu&ry 2023 1,711,002 90,999 Revalu&tion5 At 31 December 2023 1,802,1101 NET BOOK VALUE At 31 DeLernber 2023 1,802,001 At 31 Detcmber 2022 1,711,002 TheTe w¢r¢ no investment assetb oulsidc the UK. Cost ()r v•luatioM al 31 DeLcmbEr 2023 is r¢prL'senttd by.. InvestctS Valuatiorj in 2021 Valu&tion 2022 Valu&tion I 202i Lost 1_19,21.5 1130,-)061 90.999 1.702.093 1,802,001 Walker5 Farm wa5 sold by the Foundation durin¥ 2019. lJow¢vcr, 71.27 acres of land was reiain¢d as investTnenl pmperty and the Trustees ¢$timate thal the opgn markct valuc of that lynd at 31 DecLmber 202_? remains at £712,700. The lyeehold property costing £175,000, consistingi of a School I-louse was an inconie produciox inves¢mettt property uijtil 2006. The trustc£s agKtd that it 5hoiild b¢¢ome part of the prtmises of BournbroOk SLhaol )d it is Mw in use for tea¢hing and slorage PUTPOSes. The iDt¢Dli(In Is that it wll remain in use a5 part of the s¢hotsl prcmi5¥s. As su¢h its value as an asset of the C.liarily is CDnsidereil lo be in)paired by £175.000 and ¢onsequently its holdin8 value has been writt¢n down to £Nil. No Valu IS lrt place on the main School premise5 which XFe a150 owned by the ¢harity. DEBTORS: AMOULYI'S FALLING DUL WIT111Tr4 ONb YVAR 2022 Tradc debtors 458 45% Page 8 ntinued...
FII.LONGLEY LDIILAI'IONAI, vouf4DATION Nl)'I'D'S q'o'riiTr. IflNANC.'IAL sfAI'CI MFN15- continued OR TIIL YEAR Ff4DED31 DECEMBER2023 CREDITORS: AMOUN'I'.8 F,al,LING DUE WITHIN ONF. YWAR 2023 2022 Other creditOTS 1,488 1.290 ANALYSIS OF NET AS,8F.TS BCITWEEN FIIND 2023 Total funds 2022 Total fujids UiirtslriLted funds EndowD¢nt fund Inve51menL% C.ui'renl aEsct5 Current liabililies 1,802.001 1,802,001 19.%,-517 (1,4881 .711,002 171.509 {1,290) 195.517 11.4881 194.029 1,802,001 1,996,0.30 1.881.221 10. mov.Mv,l' IN WIINDS Nel tnov¢mellt iii fullds At Atl.1.23 VArtricted funds Uiiresti'i¢led tund UnresrriLt¢d DesigiiatL.d funds 120.219 50.000 23,810 144,Q29 50.000 170,219 23,810 194.029 F,ndowm¢nt funds Endowment funds 1,711,002 90,999 1,802,001 TOTAL ¥UT¥DS 1.881,221 114,809 .99(?.03Q Net niovLmeiil iii fuiids, Included iii Ihc ai)ove are &% fttllows= InLaniing resources Rcsouree$ exp¢nded Gains and Ioss¢5 Mov¢m¥nt in fund Ilnre5tricted fund$ Uni'estri¢ied lund 44,612 {20.802} 23,810 Endowmertt fund$ F.ndtswtnent funds 90,999 90.999 "roTAL FUNDS 44.612 (20.802) 90,999 114.809 Page g ¢oiitinued...
FILLONCLKY EDUCAI'iof4AI. FOUNDA'rioJy NOTES TO THE fi IliANCIAL s'fA"I'VM KN'IS- eootinlled FORI'HE YEAR Lf4DBJ131 DF.C.kMBLR 202 MOVEMENTIN FUNDS- contirtul CompArative5 for moyement im funds Net movement in lund At 31.12.22 Atl.1.22 UnrL8tri¢teil funds Unrestrict¢d fund Unre5tricled Designated ftind5 99,4.$5 50.000 20,764 120.219 50.000 149,455 20.764 170,219 F.nduwment fund5 Endowment funds 1.141,308 (130,306) ,711,002 TOTAL FIINDS 1,990,763 1109,542) 1,881,221 Cumpyralive net movement in funds, included in the above are as follows.. Incomin r¢3oiirces Resources ¢xpendEd Gains alld losses Movement in funds Unrestrieted fuDd5 UnrtStriGted lynd (18,58¥) 20,764 Endowment funds (130,306) (130,306) I'OTAL FUNDS (18,588) 1130.3061 1109,5421 UnrestriLted general fullds wmprise thos¢ funds which the Irusiees are Iree lo iise iii accord&nLe with the charitable obj¢bt5. The trustees hav¢ set aside in & duiwiated fund thL £50.000 t(> meet thE Lost of future extra()rdinary r¥p(iirs to the LhariLy's praperties. Endowmertt funds represent thos¢ a55ets which must bts llcld P¢Tm&nently by th¢ charity. In¢om¢ arising on the endowment fund can be us¢d in a¢cordanL¢ with the objects of thb chaTity and is inuluded as unresirict¢d income. Any tyapital gains or losses arisinbTr form part of tb¢ fiind, Page 10 iitinucd..,
FII,LON(:LEI Y kDIICA'I'IONAI, TrOIINDATION NO'I'Kb'I'O'TIITr, lilNANCIAL SI'ATLM LN'IS - continued FOR'fiiL YIIAR FND+,D31 DFC.EMBER2023 RF.LATF,D PAIITY DISCLOSURF.,S 'rhere were iio related party transactions for the year ¢nd¢d 3 l Dc¢eTnb¢r 2023. P2ge 11
FILLONCLEY EDIICA'fioNAL VOUNDAI"ior4 DETAILED STA'I'EMbN'f OF F2NANC.'IAI. AcriviTr'iES FORI'Hb' YEAR D.hDED31 DFLbMBPR21I23 202.7 2022 INCOME AND ENDOWMENTS Other trading sctivities Wayl¢aves and sundry income IIA) 190 InVlInent incotne Rents received Inv¢stnient incoe 9,536 3V,009 9,535 29,627 Other income ExLeptional itern5 4,877 Tot41 in¢oming r&sourees 44,612 XPENDITIIRE RJ)ising donatsvns •nd legacie8 Insutantye 270 255 Ch¥ritable activiti¢J Grants to institutions 16.786 12,20U Support costs Mamxgement Clerk fees Wbd disbursemenls 1,829 4,387 Finance Batth Lharges 105 103 Govern2llL% evsts 'I rust¢¢5' expense% A¢¢ounthncy and legal fees 198 1.614 1,260 1.¥12 1,64_3 l otal re50UTce5 expended 20,802 18.588 Net IDcome Ixfore g#lns 4nd losses 20,764 Realised retogni5cd gai0$ l(JSBes ReISed L)2insl(Iossesl fixed as¥et inv¢slm¢nts 90,99Y 1130,3O6} Net incvtntl(exp¢nditure} 114.809 1101).-$42} This pag¢ does not form part of the stalutory lÈnatLCI(Il SttI¢M¢nts Page 12