REfjISfERED CHARITY NUMBER.. 528816 REPORT OFTNETRUSTEES AND U14AUDITED FINANQALSTATEMEIITS FOR ThE YEAR ENOED 310ECEMBER 2Q23 FOR EWCATIONAL FOUNDATIOfrI OF GEORGE FEfrmiAM. HAMPTON IN ARDEN J W Hlnks LLP Chartered Accountants 19 Hlghfield Road Ed8baston Blrmlngham West Mldland5 BIS 3BM
EDUCATIONAL FOUNDATION OF GEORGE FEfrITHAM. HAMPTON IN AftDE14 CONTENfs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202J I to 5 In¢*•nd•nt EM•mln•r's R•port Stthm•nt of Flnind•l Actl¥ltl •L•noShw¢ P4oi•stoth•An1rll Slai•ftM 9 to 18
EDUCArnNAL FOUNDATION OF GEORGE FENTHAM, HAMPTON IN ARDEN REPORTOF THE TRUSTÉES FOR THÈ YÉAR ENDED 31 OECEMBER 2023 The ifustees present their report with the flnancl31 ststements of the charSty for the year ended 31 December 2023. The trustees have adopted the provislons of Accountlng and Rew)r(Ing by Charltles: Statement of Recommended Practice appllcable to charlties pparIng thelr accounts sn accordance wlth the Flnancial Reportfjn8 5tsndard ppllcable In the UK and Repub15c of Ireland IFRS 1021 leffectlve l J•nusry 20191. OBJEcllvES ANO ACTIVITIES Oblertlve5 and alms PurAo5R.4.n.dAilrD The Educatlonal Foundatlon of George Fentharn. Hampton In Arden's prlnclpal oblectlves and alm5 5nclude the follow5ng. The awèrd of prlze5 and the provlslon of 5pecSal beneflts not norrnally provlded by the Local Educatlon Authorlty for the school of the Foundatlon and, as regards prlzes, lor the othercountyand voluntary schools In the aa ol benellt. The provlsSon of asSIstan lor hl8her educatlon to resldents In the area of beneflt by means of flnanclal help or the award of 5cholar5hlps. This Is supported by Its connected charlty. the George Fentham Hampton In Arden Charlty. The trustees shall toke Into con51deratlon the flnancSal needsof the school of the Foundatlon and shall make tothe Governors thereof such annual grantsfor the purpose ol enabllngthem to comply wf(h thelr obllgatlons under the Educatlon Atts 1944 to 22 as the trustees thlnkflt. To provlde support and ald In th8 educatlonal wellbein8 In the area Includlng support for the Cal school where the trustee5 deern It necessaryor15 requlred to Eenellt the local re51dent5. our work d•11$ ouralmi We revlew our alm5, 04e£tlves and actfvltle5 each year. Thls revlew looks at what we achieved and the outcomes of our work In the prevlou5 12 months. The revlew looks at the success of each key actfvlty and the nefItS they have brou8ht to those 8roups of peoplè we are set up tts help. The revlew also helps us to ensure that our aim$, oblectlves and actlvltles rernalned focused on our 5tsted purposes. The focus of our work The focus of the charlty's work contlnues to be the provlsloTh of asslstonce In the fleld of educatlon. GrantmBkln8 The charily rev(ews ¥?rlousor8anSsatlons and IndlvSduals who support and dellver the charlty's objects. Potentlal reclplents of 8ront5 pald by the charliy are revlewed by a sub-commlttee of the charlty on a case by case ba515 dependln8 upon the avallable resourcesolthe charlty. The sub-commltlee then makes a recommendatloTh to the 8oard of Trn5tees who make thè final dectslon as to whether a yant rtcommendatlon is approved orrejected. l¥&e I
EDUCATIONAL FOVNDAnoN OF GEORfjE FENTHAM, HAMPTON IN ARDÈN REPORT OF THE TRUSTEES FOR THE YEAR ÉNDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Charitable activities In settlng our oblectlves and plannlng our actlvrtles the trustee5 have 8fven careful conslderatlon to the Charlty Comrn5sslon's 8eneral 8uldance on publlc benefk, Includlng the 8uidaThce ors publlc benefit and fee charglnB. Our moln actfvltle5 and whowe tryto help are dèstribed bèltsw. All of OUrcharltab actlvltles focu5 on our abllltyto provlde asslstance In thelield of educatlon. chool The trustees are very consclou5 of the neèd5 of the school to malntaln the standard of educaon whlch It has achthd. Durln8 the year ended 31 Oecember 2023 the trustees contlnued to offer asslsiance wlthln the obl•cts of the Foundatlgn wrth a grant totallln8 £66,tx]012022.. É66,(X]01 whkh benefltéd the h0o1,$ puplls. No prlies weie awarded dudn8 the year ended 310ecember2023. FINA14CIAL REVIEW FInar191 pwltlon The Statement of Flnanclal Actlvltles lor the year ended 31 December 2023 shows Incomlng resources for the year totslllng £77,39112022.. E76,1411 and res0rceS expended totallin8 £67,26012022'. £67,21. Net Incomln8 resource5 after reallsed and unreallsed ga1ns and losses on fixed asset Investments for the year ended 31 Decèmber 2023 amounted to E21.73112022.' net resour5 expended after reallsed and unfeallsed gains and losses on flxed 355et Invp.Stfffitst0taI1sn8 £5,481). As a result. thè charlty's total fvnds have Increased from £407,398 as at 31 Decem( 2022 to £428,129 a5 at 31 December 2023. The trustees ¢onslder the Current level of fundln8 1$ idequate to Support the contlnuaiion of the charlty's exlstlng ctlvltle5. In¥qsiment polly and oblert1¥•5 The charlty rnalntains an investment portfollo in orderto provide funds so thatthe charlty may a£hleve Itsoblectives. The try5tees, In conlunrtlon wlth Its Independent Investment manager. have been responslble for the charlty's Investment wrtfollo durtngthe year ended 31 December 2023 as summarised In note Ioto the flnanclal llatements. The trustee5 report that the value of the charlty'5 Investment portfollo Increased from £291,110 as at 31 December 2022 to E314,484 as at 31 Dember 2023. Re5erveg poll¢y It is the pollty of the trusteos to malntaln a level of rese¢ves sufflclent to ensure the continued operation of the Page 2
EDuc4noNAL FOUNDATION OF GEORGE FENTHAM, HAMPTON IN ARDEN REPORT OF THETIIU5TEES FOR THE YEAR ENDED ai DECEMBER 2023 FUTURE PLANS During the comlng year the charfty has plans to make progress in the following aa$ to provlde asslstènce In the fleld of educatlon. The trustees wlll contlnue tO8lve thelr supportto the xhool In order that It may contlnue to Serve the educatlonal demands of chlldren In the Hampton In Arden area. STRUCTURE, GOVERNANCE AND MANAGEME Govemln8document The Educallonal Foundatlon of George Fentham, Hampton In Arden Is an uTrlncorpoTrted Char constituted bv scheme ol the Chaty Commissloners dated 23 December 1907. The tha¥lty 15 regul3ted by a scherne made by the Board of Educatlon on 10 May 1915 as varled by a xheme made bv Ihe Mln151er for Edu¢atlon on 8 February 1954 and schemes of the Commlssloners dated 3 March 1982, 20 January 1992 and 23 June 2004 and under the Charltie5 Act5 1960, 1993 and 2011. RècNStmÈnt and ippolnlment of new trustee5 The lollowlng bodles have the rl8ht to nom5nate the followlng numberof trustees. Two trustees Shall be nom5nated bythe Bofou8h Councll oFSollhull. One twstee shall be appolnted bythe Justices ol the 5ollhull Petty Dlvlslon. Three trustees shall be appolnted by the Par55h CouThcll of Hampton In Arden. The trustee5 a0 have the rl8ht to Co-opt up to four addltlonal trust$ by resolutlon passéd ai an extraordlnary general meetlng of the charlty. The rnaxlmum length of terrn ol offlce for trustee5 nornlnated by the 8orou8h Council of Sollhull and for twstees appolnted by thejustlces of the Solihull Petty Dlvlslon and the Parlsh Councll of Hampton In Arden 1$ 4 years. Thé maxlmum len8th of term of offlce for coopted trustees Is 5 years. All trustee$ 8lve their tlme voluniarlly and ceIve no benefits from the charlty. Any expenses reclalmed from the charity are set out in the notes to the finan¢lal statements. Or8anlsatknnal strncture The Educètlonal Foundatlon of George Fentham, Harnpton In Arden Is organlsed so that its Board of Trustees meet regularly ro mana8e the charw's affalrs and f0M)ute pollcy ?nd the tru5tee5 are rèspon55blè for all pollcy and Ilnanclal dec151on maklngon behaN of the charltv. In order to do thi5, a su¢0MIttee of the tru5teE5 meets four times per year and recelves independent Inve5trnent athlce from the charfty's independent investmeTht rnana8er. Th15 suIFcommtttee reports back to the Board of Trustees. Related partles The EdLKational Foundation of George Fenrham. Hampton In ArdeTh 15 a150 connected wlth the Geor8e F•ntham Hampton In Arden Charbty IreB1Sted number 10986181 with both charities Ing admlnistered by the same Set of trustees. In the current year. detslls of transactkjns tween the Edueatlonal Foundatlon of Geor8e Fentham, Hampton In Arden and the George Feniham Hampwn In Arden Charliy are disc105ed In note Ioto the flnancial sratemenrs. Page 3
EDUCATIONAL FOUNDATION OF GEORGE FENfHAM, MAMPTON IN ARDEN REPOAY OFTHE TAVSTEES FOR THE YEAR ENOED 310ICEM8ER 2023 STRucfuRE, GOVERNANCE AND MANAGEMENT Rtsk mana8emenl The twustee5 have a duty to Identlfy and revlew the Ilsks to whlch the charty 15 exposed and to ensu approprtate controls are In place to provlde reasonable as5ufdnce 48alnst fraud and error. REFEREN ANDAOMINISTRATIVE DEfAILS Reg15tered Ch•rfty number 528816 Prlndpal addrn5S Fentham Hall Marsh Lane Hampton In Arden Sollhull West Mldlands 892 QAH Counclllor A Rolf Mrsj Oswald Term of olhce explre5 19.10.2024 Term of offke explre5 8.10.2026 rJ*h.cQ.noJ4 Ytsdr T.em resl8ned 19.04.2023 Dr M Shalley Mr T Bereslord Mr M Abbott Ms S A Whlte Term of offke explre5 31.10.2026 rèsl8ned 17.01.2024 - appolnted 05.07.2023 Term of offe eXre$ 14.Cfj.2027 Mrs A Flsher Term of offe eMre5 16.10.2026 Mr5 C Grant Mr6 Ryland Mr D Adams Mrc Rlckard rerm of office exthres 31.10.20?7 Term of offlce eNre5 15.07.2025 Term of Offi expqres 19,10.2025 Term of offlte •xplts$ 24.01.2Q28 Independent Eximln•r J W Hlnks LLP Chartered Accouniants 19 Hi8hfleld Road Ed8ston BlrmlThgham West Mldlands B15 3B Page4
ÉDUCATIONAL FOUNDATION OF GEORGE FENTHAM, HAMPTON IN ARDEN REPORTOF THE TRUSTEES FOR THE YEAR ENDED31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE OETAIiS cIktothtTlylee5 ¥nd Prlnclpaloflke Mr5 S Jarratt George Fentham Meetlng Rtrgm Marsh Lane Aampton In Arden West Mldlands 892 OAH B•nkor HSBC Bank plt 130 New Street 8lmiin8ham B2 4JU Solkltor Veale Wa$b0u8h Vlzards LiP 5ectsnd Floor 3 Brindleyplace 8lrmln8hom 8118 In¥tstment m•nwyr 8rewln Dolphln Llmlted 9 Colmore Row 81rmlTh8ham. 832W Approved by orderof tho board of trustoe5 on 3 July2024 and slgned on It5 half bv: Mrs C A Grant. Trustée Page 5
INDEPENDENT EXAMINERS REPORTTOTHE TRUSTEES OF EDLICATIONAI FOUNDATION OF GEORGE FENTHAM. HAMPTON IN ARDEN Indewnd•nt exonr.$ reportto thetrustees of Educatlonal FourKlatlon of Getsr80 Fontham, Hampton In Arden I report to the charlty tru5tee5 on my examlnatlon of the accounts of EducatSonal Foundatlon of George Fentham, Hampton in ArdeTh (the Tru5tl forthe year ended 31 December 2023. Responslbllkles ¥nd b•slsof report A5 the charhy trustees of the Trust you are spONsIble for the preparatlon of the accounts In accordance wych the requlrerrÉnt5 of the Charrtle5 Act 20111'the Art'l. I report In respect of my eMinatIon of the Trust's accounts carrled out under Seciion 145 of the Act and In carryln8 out my examlnatSon I have followed all applicable 01CtIons glven by the Charlty Commlssion undèr Sertion 14515llbl olthe Act. Ind•p•ndoM èMamln•rfs stst•ment I have completed my exarnlnatlon. I conflrm that no rnaterlal rnatters have Come to rny attentbn In conThectlon wlth the examlnatlon glvlng me cause to belleve that In any rnaterlal respect.. a¢countln& retords were noi kept In respect ol tkne Trust a5 requSred by Sectlon 130 of the Att.. or the accounts do not accord wlth those records,. or the account5 do not cornply wlth the applicable requlrements cencernln8 thE form and content of accounts sÈt out In the Charltles IAccounts and Reportsl Regulatlons 2008 other than any requlrement that the accounts 81ve a true anil lalr vlew whlch Is not a mattercons1ded as part ol an Independent examlnatlon. 1 have no concerns aThd have come across no othei mattèrs In connectlon wlth the exarnlnatlon to whlch attentlon should be drawn sn thls report In order to enable a proper understandln8 of the accounts to be reached. Peter Smlth ACA J W Hlnks LLP Charted Accountants 19 Hl8hleld Roèd Edgba5ton 8irmin8ham West MSdlands 815 3BH 3 July 2024 Pa8e 6
EDUCATIONAL FOUNDATION OF GÉORGE FENTHAM. HAMPTON IN ARDEN STATEMENT OF FINANCIAL AcfiviTIES FOR THÈ YEAR ENDED 31 DECEMBER 1023 2023 Unrestrlrted fund5 2022 Total fund5 Notes INCOME AND ENDOWMENTS FROM Donatlons and legacrds 64000 66.1 Investment Income 11.391 10.141 Total 77A91 76,141 EXPENDITURE ON Chothable 8ctlvkl•s Grants Support costs 66,000 L260 66,IKJO 1,260 67,260 67.260 Net 8alnsll105sesl on Inve5trnents 11,600 13,3991 NET INCOME 21.731 5.482 RECONCIUAnON OF FUNDS Total funds brought forward 407.398 401,916 TOTAL FUNDS CARRIED FORWARD 429.129 407,398 CONTINUING OPERATIONS All income and expendhure has arfsen from tont5nuingattiv5tles. Tbe notes forni partof these hnanclal ststernents Page 7
EDUCATIONAL FOUNDATION OF GEORGE FEKfHAM, HAMPTON IN ARDEN B*IANCE SHEET 31 OECEMBER 2023 2023 Unre5trlcted fund5 2022 Total fndS Notes FIXED ASSErs Inve5tment5 io 314.484 291.110 CURRENT ASSETS Debtors Cash at bank li 110,692 5,IS3 101,533 15,955 lIS45 117,488 CREDITORS Arwunt5 fallln8 due wbthln one yéar 12 li.2) 11.20DI NET CURRENT ASSETS 114.645 116,288 TOTALASSETS LESS CURRENT LIABILITIES 429,129 407,398 NET SET$ 429.129 407,398 FiINDS Unrestrlcted fvnds 13 419,129 407,398 TOTAL FUNDS 4Z9,129 407,398 The flnanclal stotemeNs were approved the eoard of Trustees and authorfsed for Issue on 3 July 2024 and were slgned on hs behalf by.. CA Grant-Trustee C Rlckard-Trustee The note5 fomi part gf these financlal 5taiemenrs Page 8
EOUCAnONALFOUNDATION OF GEORGÈ FENTHAM, HAMPTON IN ARDEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POLICIE5 GENERAL INFORW4TION AIID BASIS OF PREPARING THE FINANaAL STATEMENTS Gtneral Informatlon The Educatlonal Foundatlon of George Fentham, Hampton In Arden, Is an unlncorpjrated charlty re8lstered In EnE12nd and Wales. The addre55 of the charlty's reg1sted office 5s Fentham 1311, Marsh Lane, Hampton4n-Arden. Sollhull, West Midlinds. B92 OAkl. countln8 n¥ttIon The financial statements of the chailty, whlch Is a publlc beneflt entlty under FRS 102. have been prepared In accordance wlth the Charltles SORP IFR5 1021 'Accountln& and Reportln8 by Charll*s'. atement of Recommènded Practice 3pplICab to charbtles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard applkable In the Unlted KSThgdDm and Rewbllc ol Ireland IFRS 1021 leffectlve l January 20191" Flnanclal Reportln8 Standard 102 "The Flnanc5al Reportln8 standard applICab In the UK and Republlc of Iland. and the Charltles Act 2011. The fTnanclal Statements have been prepared uslng the h15torlc cost conventlon, modlfled to Include certaln flnènclal Instruments at.falr value. and are presented In sterlln8 whlch 15 the functlonal currency of the charlty, rounded io the ne4rest £1. Thè signifitant attourstlng policles applied In the preparatlon ol thesè flnanc5al statements are set out below. These po16c6es have been consl$tentl¥ applled to all years presented unless othe1$e stsled. FINANaAL REPORTING STANDARD 102- REDUCED DISCLOSURE EXEMpnoNS The charlty has taken advantage of the followln8 dlsc105ure exemption In pparnfj these flnanclal statements a5 wrmitted by FRS 102'The F5nanclal Reportln8 Stsndard appllcable In the UK and Republlc of Ireland" the requlrement of Sethion 7 Statement of Cash Flows. INCOME All Income Is recognlsed In the Statement of Flnanclal ActlvRles once the charlty has eThtltlement tr) the funds, It15 probable that the Incorne wlll be recelved and the amount can b8 measured rellablv. For dorsatlon5 to be reco&nised the charfty wlll have been notIfd of the amounts and the 5ettlernent &te. If tbere are condltions attached to the donatlon and thls requlres a level of perfomiance before entltlement can be obtalned then income Is defèrred until those conditlons a fully met or the futriimeTht of those condltlgn$ Is wkhln thè control of thè charltyand It li probable thattheywlll be fulfllled. The chailty rece5ves 8rants from other thlrd parries In respect of Its actlvltle5, Grants reIable from other third partles are recognlsed at lalr value when the charlty ha5 entltlement after any performance condltl¢)ns have been met, It 15 probable that the income wlll be recelved and the amount can be Tneasurtsd lIably. If tntltlement is not metihen these amounts are deferred. Investment Income Is earned through holdlng assets for Inve5trnent purposes such as shares. It Includes dlvldend5 and Intest receivable. Whère It Is not pracricable to Identify InvestmeTht mana8èmÈnt tosts IncUrd w5thin a scheme wlth reasonable accuracy, Investment Income Is repDrted net of these costs. It Is Included when the arnount be measured rellably. Interest Income Ss recogn15ed u51n8 the effectlvE Interest rate rnethod and dlvldend Income Is reco8nlsed a5 the Charity's right to receive payment is estsbllshed. Page 9 ¢ontlnued...
EDUCAIIONAL FOUNDAllON OF GEORGÉ FENTHAM, HAMPTON IN ARDEN NOTE5 TO THE FINANaAL STATEMENTS-eontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNnNG POLiaES. contlnued EXPENDITIJRE All expenditure 15 accounted for on an acciuals basis and has been tlassrfied under headin8S thèt og8re8ate èll COSt5 related to ihe category. Expend5ture 15 recognlsed where the 15 a legal or con5tructlve oNigatlon to make payments to thlrd partles, It Is probable that the settlement wlll be requlred and the amount of the obllgatlon can be measured rellably, It15 CèteBorfsed underthe following he¥dln8S. o Expenditure on charitable actnilties. o Other expendlture presentIngthOse Items notfalllng Intothe above categor*s. Support Costs are those that a551st whh the work ol the Soclety but do not dlrectly represent charltable actlvltles and Include offlce CDStS, governance costs and other admlni5tratlve costs. Grants offered subject to condltlon5 whlch have not been rnet at the year end dète are noted 45 a commltment but not accrued as expendlture. TAXATION The charlty Is exempt from tax on It5 charltable actlyltles. TANGIBLE FIMED ASSETS Land and bulldlThBs are used for tharFtable purpD5e5 and have not &een recogTrlsed Sn accordance wlth tradhbnal practlce as the propertles are con51dered to be a permanent eThdowment of the charlty. The Geor8e Fentharn Endowed khoc4 Hall as stated above rern4lns at 4 nll value In ihe flnanclal statements for charit8bl• purposes in accordance with tradltlonal proctico as the property was con51dered to b4 a ptrmanent endowrnent ol the crItY at that time. The trustees have obtalTred a valuitlon "on a contractor's basls. as at 31 De£ember 2013 wbth the help ol thelr professional advlser, N C Russell MRICS ol Nlck Russell Agsoclates. Thls valued the George Fentham Endowed School H311 property at £4.500,0. Thls Is c0Th51dered only to act a5 an "alde-memolre" to the flnanclal statements and not as a tYK)netary valuatK)n. CASH AND CASH EQUIVALENTS Cash and cash equivalent5 include cash In hand and deposit5 held at call wlth banksand other third parties. INVESTMENTS Investmenis a reco8nLsed Inifially at farr value whlch Is normally the transartlon prlte èxcludln8 transactlon costs. Subsequently. they a rneasured at fair value wTth chanBe5 recogThised In 'net galnslllouesl on Investments" In the Statement of Financial Activltie5 If the Investments are publlcly traded or their fair value can otherwlse be measured lIablY. FLIND ACCOUNfiNG Gei)eral funds are unrestiicted fund5 whkh are available for use at the dlscretSon of (he irusiees in fuTili¥iaTice of the 8eneral objectnies of the charrtyand whlch have not been design3d for other purposes. De51giiated lund5 EOtnpri5e unre5trittEd funds that havE been Set aside by the trustees for partlcular purposes. The aim and use of each des4gnated fund 15 Set out in the note5 to thefinancial 5tatement5. Page 10 contSnued...
EDUCATIONAL FOUNDATION OF GEORGE FÉNTHAM, HAMPTON IN ARDEN NOTES ro THE FINANOALSTATEMENTS- cortlnued FOR THE YEAR ENDED 310ECEMBER 2023 ACCOUNTING POLICIES- ¢ontlThJ•d FINANaAL INSTRUMENTS The charf(y has elected to apply the prov15Ion5 of 5ect6on 11 'Ba51c Flnanclal Instruments and Settion 12 'Other Financièl Instrurnents155ues" of FRS 102 to all of Its financlal statements. Flnanclal Instruments are recD8nlsed In the charlty's balance sheet when the charlty becomes party to the contractual provisions of the In5trurnent. Flnanclal assets and Ilhbllltle5 a offset, wlth the net amounts presented In the ffinanclal statements, whèn therels a legally enforceable rl8ht to set off the iecogn15eLI arnouThts and there15 an Intentlon to settle on a ntt basls orto alISe thè ass8t and settle the Ilabillty slrnukaneouslv. Bislc flnanclil asset5 Baslc flnancial assets, wh4ch Include trnde and other ce5¥a$ and cash and ban* balances, are Inltlally measured at tran5actlon prlce Includlng transactlon costs and are subsequently carrled at amortlsed c05t using the effectlve Interest method unless the arraTrgement constitutes a flnancin8 transactlon where the transactlon Is rneasured at the present value of the future Cepts dlscounted at a market rate of Interest. Oth•rlln•nclal •s5ets Other financial assets a Inltlally measu¥ed at falr value whlch 1$ normally the transactlon prlce. Such ass$ are subsequently carrled at falr value and the changes In lalr value are recognlsed In the Income and empendlture account, emcept that Investments In equity instruments that are not publlcly traded and whose fair values cannot be measured rellably are measured at cost less Impalmient. Trade debtors. loans and other recelvables ihèt have fixed or determlnable payments that are not guoted In an active mèrket a classified a5 '1oèns and recelvables" Loans and receivables are MeaSud at amortlsed cost $in8 the effectlve Interest method less any Impalrment. Interèst Is colnIsed by aFplyln¥ the effectfve Interest ratè, except for short.tem recelvables when the recogTrltlon of Interest would trR Immaterlal. The effectlve interest method Is a method of lculatIng the 8mortlsed cost of a debt Instrument and ol allocaiin8 rhe Interest Income over the relevant perlod. The effertive 5ntèrest rate Is the rate that èxactly d5kounts estlmated future cash welpts through the expected life of the detst Instrument to the net carryln8 amount on Inltlal (08n1t50fft. Impilrrnt of flnintlal •5Stts Financlal assets, other than those held at falr value throv6h Income and èxptndlturé. arè assessèd for IndlcatOV5 of lrnpalrrnent at each reportln8end date. FInala1 asseis are 5mpalred where the Is oblectlve evldence that, 45 a result of ont or more tvéfits that occurred after the Inltial recognltlon of the flnanclal a55Et, the estimated future cash flows have been affected. If an asset Is Impalred, the Impalrment 105$ 1$ the dIffenCe belJ¥een the carryire arnount and the present value of the estirnated cash flows discounted at the asset's orl8lnal effectlve Interest rate. The lrnpalrnient 10s5 Is reco8n15ed In the Income and expendlture account, If ihere Is a decrease In the Impalrment loss ar151ng from an event occurrfn8 after the Impalmienr was reco81115ed, the impairnient Is reversed. The reversal Is such that the current carrying amount doe5 not exceed what the carryin8 amount would have been had the Impalrment not prevlou5ty been recognised. The Impalrment reversal is recogn15ed in the Incorne and expenditu account. Page 11 contlnued...
EDUCAnONAi FOUNDATION OF GCORGC FCNTHAM, HAMPTON IN ARDEN NOTES TO THE FINANCIAL STATEMENTS-coMlnued FOR ThE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- ¢ontlnued FINANCIAL INSTRUMENTS Derecognltlon otflnanclal a55rf5 Flnanclal assets are dèreco8nlsed only when the contractknal rl8hts to the cash flows from the asset explre or are settled, or when the charty tr3nsfers the flnanclal asset and substantlally all of the rSsks and rewards of ownership to another entity, or If some slgnlllcant rlsks and reward5 of ownershlp a ta[ned but control of the asset ha5 transferred to another party that is able to sell the a55et in its entirety to an unrelated thlrd party. Oasslfitstlon tsf fftnanclal15abMIIIo$ FIrnCIal Ilabllltles and equlty In5trurnents are cla551fled èccordln8 to the sub5tsnce of the contractual arrangement5 entered Into. An equky InstrUt Is aThy contract that evldences 4 rasldual Interest In the assets ol the charltyofter deductlng all of Its liabllltles. •slc flnhnclal Il•bllltles Bèslc Ilnanclal Ilabllltle5, includln8 trnde and other paya1•$ and bank b•n5, are Inltlally reco8nlsed at transactlon prlce unless the arrangernent con5tltutes a flnènclnB transactlon where the debt Instrurnent Is measured at the psent value of the future recelpt5 dlscounted at a market rate of Inte$t. Debt Instrument5 are subsèqu2ntly carried at amort5sèd tost the effethlve Interest rate rnethod. Trade payables are 06118atlon5 to pay for 8ood5 and servlces that have been acqulred In the ordlnary course of business from suppllers. Accounts payable are £lassllled a5 current Ilabllltles If payment Is due withln one year or less. If not, they are presented as non-curreni liabllities. Trade payable5 are retogn15ed initlalty at tran5actlon prlce and subsequently measured ot arnort15ed cost U51ng the effectlve Interest rate method. oth•rfln•nd•l Il•bllltles Oerlvatlve5, Includln8 Interest rate swaps and forward foreiqn exchange contract5, are not baslc flnanclal Instruments. Oerlvatfves are Inltlally reco8nlsed at f>lr value on the dète a derfvatfve contract Is entefed Into and are subsequently re-measured at thelr falr value, Changes In the falr value ol derlvatives ire recognlsed In the Income and empendtture account In flnance cost5 or flnance Income as approprlate unless hedge accountln81s aprAled and the hedge Is è cash flow hedge. Flnanclal 1Sabllltles and eqvlly In5trurnents are cla55lfled accordlnB to the substsnce of the contractual arran8ements entered Into. Derecogn1On of flmnclal11gbllltie5 Flnancial lbIlItIeS a éerecognised when the charhy's contrartual obll8ation5 explre or are discharged or cancelled. GOING CONCERN The financlal statements have been prepared on a golng concern s45 as the trustees belleve ihat no material uncertiiDtie5 exist. The trustees have considered the level of funds held and the expected level of income and expenditure lor 12 rnonth5 from authori5ing these financial 5tatemeTht5. The expetted iruime and expenditure Is svfflclentwlth the level of reserve5 for the charlty to contlnue a5 a 8olnB concern. Page 12 continued..
ÉDUCATIONAL FOUNDATION OF GEORGE FENTHAM. HAMPTON IN ARDEN NOTES TOTHE FINANCIALSTATEMENTS- contlrw•d FOR THE YEAR ENDEO 31 DECEMBER 2023 CRmcALAccouNfiNGJUDGEMENTS AND KEY SOURCES OF EsThTION UNCERTAINri In the èpplKation ol the charity's accountfjn8 pollcles, the trustees are requlied to make lud8ements, esttmates nd assumptions about the carrying amount of awts and Ilab11114es that are not reailily apparent frorn other othersources. The estlmates and undedyln8 assumptloThs are revlewed on an CgoIng ba515. Revlslons to accountln8 estlmates a reco8n15ed In the perlod In whlch the estSmate Is revlsed where the reylslon affects only that period or in the of the revl$lon and future perlods where the rev15ion alfect5 both current and future perlods. DONATIONS AND LEGACIES 2023 UDrertdrt•d furMI$ 2022 Total Thds Grants (eIVable 66 66,(M]O Grants rècèlvÈd, Included In the above, are as follows.. zozJ 2022 Grge Fentham Hampton In Arden Charfty 66,000 66,0Tr) INVESTMENT INCOME 2023 Unrestrf<ted funds 2022 Total funds Dlvldend Income recelvable 11,391 10,141 CHARITABLE ACTIVITIES COSTS Grant fundin8 of Support C05ts15ee note 71 15ee note Totals Grants Support C05t5 64000 66A 1.160 1.260 66,000 1.260 67260 Page 13 contlnued...
EOUCATIONAL FOUNOATION OF GEORGE FÉNTHAM. HAMPTON IN AADIN NOTE5 TOTHE FINANCIAL STATEMENfs- contlnued FOR THEYEAR ENDED 31 DECEMOER 2023 GRAP4TS PAYABLE 20ZJ 2022 Grants 66.000 66.OOU Durlng the year ended 31 DEcember 2023 the ch•r5ty made the followlTr8 8rants In order to contribute towalds the athancemeTht of eduEatlon In the klampton In Arden area. Totsi granls paytblt to Instltutlons durln8the year We aslolk)ws. 2023 2022 George Fentham S¢hool 66,000 66,000 Grants payable •re charged In the year when the offer Is conveyed to the reclplent except in those cases whe theoffer15 conditlonal, such grant5 beln8 reco8nlsed a5 expendlture wheTh the cond5tlons are fulfilled. SUPPORT COSTS Governance Osts Fliiance Totals pwrt costs 1.2fy) 1,260 Support costs. Included In the atrthe, are as follows., 2023 Support costs 2022 Total actwities Bank Charges Examlner'5 lee 60 iJoo 1.200 1.160 1.260 TRUSTEES, REMUNERAIION AND BENEFThS Thèfe wèrè no tmste8s' remuneratlon or other beneffts for the year ended 31 December 2023 nor for the year ended 31 December 2022. Page 14 continued...
EDUCATIONAL FOUNDATION OF GEORGE FE14THAM, HAMPTON IN AROEN NOTES TO THE F114ANCIAL STATEMENTS. ¢oMlnu4d FOR THE YEAR ENDED 31 DECEMBÉR 2023 TRUSTEES, REMUNERAnoN AND BENEFrrs- wnUnue41 TRUSTEÉS, EXPENSES Theie were no trusteès, èxpenses paid for the year ended 31 Oecember 2023 nor for the year ended 31 December 2022. STAFF COSTS There were no stsff costs durlngthe year5 ended 31 oember 2023 and 31 December 2022. FIXED ASSETIWESTMEP4TS Totsl 2023 Total 2022 Market value at l January 2023 Addltlons 3tcost Sale proceeds on dlspos&l Galnlllo$sl In the year.. reallsed - unreallsed 291,110 24,OOZ 112,1291 306,346 27,129 138,9661 2,171 9A19 11,4931 2,094 Market value at 31 Dmber2023 314084 291,110 Hlstorlc cost at 31 December 2023 213a02 212,039 ANALYSIS OF INVESTMENTS 2023 2022 UK quoted bonds UK quoted eqult5es 52,781 261,703 27,B69 263,241 314.484 291.110 Page 15 tontlnued...
EDUCATIONAL FOUNDATION OF GEORGE FENTHAM, HAMPTON IN ARDEN NOTES TO THE FINANCIAL STATEMENTS-¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 IL DEBTORS: AMOUNTS FALUNG DUIWITI11141JNlVtAR 2023 2022 Other debtors 110.692 101,533 ii. CREDITORS.. AMOUPITS FALLING DUE WThIN ONE YEAR 20ZJ 2022 Other credltor5 1.200 13, MOVEMÉKf IN FUNDS Net movement In funds Al 31.12.23 At 1.1.23 Unr95trl(l•d fvnds Gèner31 fund C•pltal fund 101,232 306,166 10.131 IL6110 111.363 317,766 407.>98 2L731 429.129 TOTALFUNDS 407,398 21,731 429,IZg Net movement In funds, Induded In the above ore 8s lollow$'. IncomlnB resource5 Re50urce5 expended Galn5 and 1055e5 M¢)vement In funds Unrestrfcted funds General fund Capltal fund 77,391 167,2601 io,i>i 11,6th) 11.600 77,391 167.2601 IL6110 21.731 TOTALFVNDS 77,391 167,2601 1&61XI 11.751 Page 16 continued...
EDUCATIONAL FOUNDAMON OF GEORGE FETrmlAM, HAMPTON IN ARDEN NOTES TO THE FINANOALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 OECEMBER 2023 MOVEMÉNT IN FUNDS- tontlnu Compbmtivts for movement in lund5 Nèt movement In funds At 31.12.22 At 1.1.22 Unrnrtrfrtedfund5 General fund Capltal fund 92,3SI 309,565 8,881 13,3991 101,232 306,166 401,916 5.482 407,398 TOTAL FUNDS 401,916 5,482 407,398 cornparate net movement In lunds, Included In the abov• are asfollows.. Incomln8 resourcès Resources expended Go1Th5 and losses Movernenl In funds Unrestrfrted fvrnls General fund Capltal fund 76.141 167,2601 8.881 13,3991 13,3991 76,141 167,2601 13,3991 5,482 TOTAL FUNDS 76,141 167,2601 13,3991 5,482 A currentyear 12 tTh)nths and prloryear 12 months comblned wsltlon Is as follow5.. Net movement In funds At 31.12.23 At 1.1.22 Unrertrlttéd fvnds General fund Capltal fund 92.351 3CrfJ,565 19.012 8,201 111.363 317,706 401.916 27.213 429.129 TOTAL FUNDS 401,916 27,213 429.129 Page 17 contlnued...
EDUCATIONAL FOUNDAnoN OF fjEORGÉ FENTHAM, HAMPTON IN ARDÉN NOTESTO THE FINANCIAL STATEMEPItS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVÉMENT IN FUNDS- contbnued A cufftnt year 12 rnonth$ and prSor year 12 months comblned net mLwement in funds, Included In the above are asfollows.. Incomln8 resource5 Resoui£es expended Galns and losses Movement In funds Unr•strfct•dfvnds General fund Capftal fund 153,532 1134,5201 19.012 8,201 8,201 153,532 1134,5201 8,201 27,213 YOTAL FUNDS 153,532 1134.5201 8,201 27,213 Purpose of Unrestrlrted Fund5 Gen fal fund Thls fund represerttsthèlreé funds of the charlty that are not desl8nated for partlcular purpJ5e5. Purp• ofOes*Mtsd Funds Thls fund represents the hlstodc endowed capltsl as amended for the revaluatlon of Investments, the Income from whlth lstaken to the General fund. RELATED PARTY DISCLOSURES Georxe Fenth8m HAmpton In Arden Ch•rlry The Educatlonal Foundatlon of George Fentharn. Hèmpton ITh Arden Is also connected wlth the Geor8e Fentham Hampton In Arden Charfty Ireglstered number 10986181 wtth both charltles beln8 adMlnlsttd by the Same set of irusree5. Durln8 the year ended 31 December 2023 the Educatlonal Foundatlon ol George Fentham, Hampton Sn Arden recelved grants totslllng £66.fy)012022., £66,oc(Il from the George Fentham Hampton in Arden Ch•rfty. As at 31 December ZOZ3, Included wlthln other debtDrs falllng due wlthln one ye•r. 15 £108,961 12022.. £99.9611 due from the George Fentham Hampton In Arden Chartty to the Educatlonal Foundatlon ol Geor8e Fentham. Page 18