Contents of the Financial Statements
for the Period Ended 31 August 2022
Directors' report period ended 31 August 2022
The directors present their report with the financial statements of the company for the period ended 31 August 2022
Principal activities of the company
Trustees’ ReportThe Trustees of the Forres Sandle Manor Educational Trust present their Annual Report for the year ended 31 August2022 under the Charities Act 2011, including the Directors’ and Strategic Reports under the Companies Act 2006, togetherwith the unaudited financial statements for the year.STRUCTURE, GOVERNANCE AND MANAGEMENTConstitutionThe Company was incorporated as Sandle Manor Educational Trust Limited on 23 February 1982. It acquired a preparatoryschool, then operated by Sandle Manor Limited. Following a merger in 1993 with Forres School (Swanage), its namechanged to Forres Sandle Manor Educational Trust Limited (hereafter referred to as the Trust). The Trust sold the schoolon the 12th of February 2021 and now has a role in supporting the school which is run as a private concern. The Trust isconstituted as a company limited by guarantee, registered in England number 01616533, and is registered with the CharityCommission under charity number 284260. The Trustees have no interest in the shares or debentures of the company,nor any right to subscribe for such shares or debentures.Governing DocumentsThe Trust is governed by its Memorandum of Association and Articles of Association as invoked on incorporation on 1stOctober 1993. The Memorandum of Association and Articles of Association were updated on the 13th of April 2021, andregistered on the 3rd of June 2021, to reflect the new role taken on by the Trust following the sale of the school to ForresSandle Manor Limited on the 12th of February 2021.Appointment and Induction of TrusteesThe Trustees, who are also the company directors, and who served during the year, are listed on Page 2. The Board ofTrustees are elected on the basis of nominations from the trustees, based on the candidate’s professional qualities,experience, personal competence and local availability.The Working of the Board of Governors and its CommitteesThe governors determine the general policy of the Trust and meet formally when required. The board does not have anysub-committees.Following the sale of the school, the Trust meets on an ad hoc basis to discuss the opportunities it may have forsupporting the school based on any proposals received from the Directors of Forres Sandle Manor School Limited. Theyare reviewed and debated on their merit with the decisions communicated to the Directors of Forres Sandle ManorSchool Limited.AuditFollowing the sale of the school in February 2021, the Trust has taken the decision that due to the low volume of financialtransactions which it undertakes it will dispense with its auditors. Accordingly Fletcher & Partners were not re-appointedto audit this financial year. The Memorandum and Articles of Association do not require the Trust accounts to be audited.Charitable ObjectsThe objects of the Trust are set out in the Memorandum and Articles of Association and were amended following the saleof the school in 2021. They are to promote and provide for the advancement of education and to support and assist withthe carrying on and the development of Forres Sandle Manor School through the provision of scholarships, bursaries andeducational funding.Aims and Intended Impact- Pupil enrichment: to ensure that pupils receive the best all-round education possible through supportingdevelopment proposed by Forres Sandle Manor Limited.- Financial viability: to ensure continued existence and to facilitate further development in infrastructure for ForresSandle Manor Limited.Principal Activities of the YearDuring the 2021-2022 financial year the Trust considered a number of proposals from Forres Sandle Manor Limited andcontributed to the school by way of supporting the acquisition of additional transport provision to the sum of £6,000 andan additional contribution of £6,000 for improvements to the classroom provision for younger years.Following the sale of the school, the Trust’s principal method of supporting its operation is by making donations tosupport the cost of the bursaries and scholarships available to pupils. In the financial year 2021 – 2022 costs of£211,118 (2020 – 2021, £109,197) were incurred to Forres Sandle Manor Limited to support the provisions of bursariesand scholarships.PUBLIC BENEFIT AND SOCIAL RESPONSIBILITYThe Trustees recognise fully the importance of how the functions and provisions of the charity can provide meaningfulbenefit to the public.The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard tothe public benefit guidance published by the Charity Commission.The Trust continues to support the pupils by providing donations to contribute towards the costs of remissions granted byForres Sandle Manor School Limited, who now operate the school.Custodian TrusteeshipNo assets were held as custodian trustee during the reporting period or any other.STRATEGIC REPORTNo strategic report is included in these accounts as the Trust qualifies as small as defined under the Companies Act2006 and does not comply with any of the criteria under the Charities Act to require an audit.STATEMENT OF DIRECTORS' RESPONSIBILITIESThe directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.Charity law requires the Trustees to prepare financial statements, for each financial period, in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP) which gives a true and fair view of the financial activities of the company during the period and of its financial position at the end of the period. In preparing these statements, the Trustees are required to-- Select suitable accounting policies and then apply them consistently,- Observe the methods and principles in the Charities Statement of Recommended Practice,- Make judgements and estimates that are reasonable and prudent,- State whether applicable accounting standards and statements of recommended practice have been followed,- Prepare the accounts on the going concern basis unless it is inappropriate to assume that the company will continue in operation.The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and which enable them to ensure that the financial statements comply with the provisions of the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.Signed on behalf of the Trust
Directors
The directors shown below have held office during the whole of the period from
1 September 2021 to 31 August 2022
Mrs E C Dure-Smith
Mr B T Arnold
Mr C J Hancock
Mr G W Morgan
Secretary Mrs E C Dure-Smith
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
29 September 2023
And signed on behalf of the board by:
Name: Mrs E C Dure-Smith
Status: Secretary
Profit And Loss Account
for the Period Ended 31 August 2022
| 2022 | 2021 |
| £ | £ |
Turnover: | | 975,171 |
Gross profit(or loss): | | 975,171 |
Administrative expenses: | ( 230,603 ) | ( 1,635,833 ) |
Other operating income: | 990 | 31,651 |
Operating profit(or loss): | (229,613) | (629,011) |
Interest receivable and similar income: | | 3 |
Profit(or loss) before tax: | (229,613) | (629,008) |
Profit(or loss) for the financial year: | (229,613) | (629,008) |
Balance sheet
As at 31 August 2022
| Notes | 2022 | 2021 |
| | £ | £ |
Current assets |
Debtors: | 3 | 195,359 | 169,566 |
Cash at bank and in hand: | | 1,316,283 | 1,584,385 |
Total current assets: | | 1,511,642 | 1,753,951 |
Creditors: amounts falling due within one year: | 4 | ( 10,830 ) | ( 20,262 ) |
Net current assets (liabilities): | | 1,500,812 | 1,733,689 |
Total assets less current liabilities: | | 1,500,812 | 1,733,689 |
Provision for liabilities: | | ( 60,719 ) | ( 63,982 ) |
Total net assets (liabilities): | | 1,440,093 | 1,669,707 |
Members' funds |
Profit and loss account: | | 1,440,093 | 1,669,707 |
Total members' funds: | | 1,440,093 | 1,669,707 |
The notes form part of these financial statements
Balance sheet statements
For the year ending 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
This report was approved by the board of directors on 29 September 2023
and signed on behalf of the board by:
Name: Mrs E C Dure-Smith
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 31 August 2022
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102
Tangible fixed assets depreciation policy
All assets were sold on 12th February 2021 to Forres Sandle Manor School Limited.
Other accounting policies
Nature of operations and general informationForres Sandle Manor Educational Trust Limited (the Trust) is a private company limited by guarantee and a Public BenefitEntity. It is incorporated and domiciled in England, the address of its registered office is Forres Sandle Manor, StationRoad, Fordingbridge, Hampshire, SP6 1NS. The Trust’s financial statements are presented in Pounds Sterling (£), whichis also the functional currency of the company.Basis of preparationThese financial statements have been prepared under the historical cost convention and in accordance with the CompaniesAct 2006, applicable accounting standards, and the Charities Statement of Recommended Practice Financial ReportingStandard 102 (“SORP (FRS 102)”).The directors have a reasonable expectation that the company has adequate resources to continue in operationalexistence for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the financialstatements, as outlined in the Statement of Directors’ Responsibilities on page 8.Accounting judgements and assumptionsThe preparation of financial statements under SORP (FRS 102) requires the company to make judgements andassumptions that effect the application of policies and reported amounts. Assumptions and judgements are based onhistorical experience and other factors including expectations of future events that are believed to be reasonable under thecircumstances. Actual results may differ from the estimates derived from applying those judgements and assumptions.The judgements and assumptions which have a significant impact on the carrying value of assets and liabilities arediscussed below.School DebtorsThe Directors use their judgement in determining the likelihood or otherwise of the ability of the Trust to collect amountsowed to it in full, and hence estimate the level of provision for bad debt required. At the end of the year there was onedebtor balance, which was fully provided for.The Trustees do not conceive there to be any significant risk of material adjustment during the next reporting period as aresult of the judgements and assumptions applied to the financial statements.FundsDonations for specific purposes form separate funds, whose assets are separately identified, are referred to as restrictedfunds. The Trust does not have any restricted funds as at 31 August 2022 (2021 £nil).DebtorsDebtors are measured on an historical cost basis, with items potentially unrecoverable provided for where the Trusteesconsider such an adjustment to be necessary.Creditors and provisions for liabilities and chargesLiabilities are recognised when a legal or constructive obligation exists to transfer economic benefits as a result of pasttransactions or events. The carrying values of trade and other payables are considered to be a reasonable approximationof their fair value. Provisions for pensions payable to certain former employees have been estimated using average lifeexpectancies for the pensioners concerned.Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand.Financial instrumentsFinancial assets and liabilities are recognised on the Trusts balance sheet when the Trust becomes a party to thecontractual provisions of the instrument.Financial assetsThe Trust’s financial assets comprise trade and other receivables. Trade and other receivables are recorded initially atfair value and subsequently at amortised cost less any provision for impairment, based on the receivable ageing, theTrust’s previous experience with the debtor and known market intelligence. Any impairment is recognised in thestatement of financial activities.Financial liabilitiesThe Trust’s financial liabilities comprise borrowings, trade and other payables and provisions for future liabilities. Theyare classified and accounted for according to the substance of the contractual arrangement entered into, and stated atamortised cost. All interest-related charges and, if applicable, changes in the instrument’s nominal value are includedin the statement of financial activities item “costs of generating funds”.Fees and other incomeThe Trust does not receive any income as a result of its continuing activities.ExpenditureExpenditure is accounted for an accruals basis and recognised as soon as the liability is considered probable. Certainexpenditure is directly attributable to specific activities and other expenditure headings is apportioned according to timespent on those activities. The Trust is not registered for VAT and all costs include input VAT where this has been charged.Support costs are the administrative costs incurred to enable the Trust to carry out its charitable activities. Governancecosts comprise of the administration costs incurred to comply with constitutional and statutory requirements.
Notes to the Financial Statements
for the Period Ended 31 August 2022
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2. Employees
| 2022 | 2021 |
Average number of employees during the period | 0 | 59 |