The members present their annual report and financial statements for the year ended 31 July 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
The objectives of the Friends of Canford School are advancement of education by affording assistance to Canford School and to pupils of the school and for the continuance of their education after leaving the school.
The charity provides grants for projects and bursaries in support of the school, its pupils or wider community that assist the school in achieving any of its charitable purposes.
The members have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
2023 was a special year. Not only did it mark the centenary of Canford’s foundation, but, given The Friends of Canford School was incorporated on the 22nd November 1943, it also heralded our group’s eightieth anniversary. Notwithstanding the auspicious landmarks reached, we still kicked off the new academic year with our most popular (and profitable) event, Quiz Night!
February was all about fashion, with Canford hosting its first sustainable Fashion Show in collaboration with the Wardrobe Foundation, just one of the amazing organisations we have been able to support.
Spring saw Zoe Wilson, renowned sculptor and creator of the School’s centenary sculpture, capture the imagination of our Lunch guests when she spoke passionately about her work, while summer was all about outdoor activities. We were blessed by wonderful weather for our annual Charity Golf Day and for our History and Arboretum tours which always prove so popular.
This year, we hosted a Commando Quest activity for the first time, a unique afternoon combining paintball target practice, shooting range, assault course and room clearance activities; perfectly pitched to give a taste of what the children get up to at the School’s outdoor education facility.
Most importantly, we were delighted to welcome so many parents to our events and, while at the same time, raising funds for those causes Canford pupils hold dear. We have also been on an active recruitment drive which has seen our director numbers increase and volunteer base grow.
Our thanks go to all those who have contributed, particularly to our committee members for all they have done, and continue to do. It has been a very special year indeed.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The members considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The members have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The company is governed by its Memorandum and Articles of Association dated 28 February 2015.
The number of members shall be no less than five and shall include not less than three persons nominated by the Council of Governors of Canford School.
New members appointments are made after advertising throughout the membership. Candidates are co opted to council and proposed for election after suitable experience.
The members, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The members appointed by the Board of Governors have regular training in the course of their duties at the school.
The member's report was approved by the Board of Members.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Friends of Canford School for the year ended 31 July 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
It is your duty to ensure that The Friends of Canford School has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Friends of Canford School. You consider that The Friends of Canford School is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Friends of Canford School. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Friends of Canford School is a private company limited by guarantee incorporated in England and Wales. The registered office is The Bursary, Canford School, Canford Magna, Wimborne, Dorset, BH21 3AD.
The Friends of Canford School is a company limited by guarantee and accordingly does not have share capital.
Every member of the charitable company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Unrestricted funds are available for use at the discretion of the members in furtherance of their charitable objectives.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.