Ufton Court Annual Report SPREADS - Page 29

(A company limited by guarantee)
(A company limited by guarantee)
TRUSTEES’ REPORT (continued)
The Trustees (who are also directors of Ufton Court Educational Trust for the purposes of company law)
are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance
with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom
Accounting Standards).
The total expenditure for the year was £1,546,680 (2018: £1,534,059).
Reserves Policy
The Trustees aim to hold liquid funds on deposit at the bank of approximately £774,000 to cover six
months core operating costs, defined as payroll obligations and key and supplier costs. We are working
towards this and currently hold £700,410 on deposit to cover any sudden loss of funding. The Trustees
believe that the charity is sufficiently diversified and not reliant on any one source of funds and that the
risk is low. Free reserves currently stand at £638,372 (2018:451,702).
Company law requires the Trustees to prepare financial statements for each financial year. Under
company law the Trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and the group and of
the incoming resources and application of resources, including the income and expenditure, of the
charitable group for that period. In preparing these financial statements, the Trustees are required to:
• select suitable accounting policies and then apply them consistently;
Fundraising Policy
• observe the methods and principles in the Charities SORP;
We take an ethical approach to fundraising and closely manage all of our approaches to donors within
a well-managed Fundraising team. All of our fundraisers are directly employed and we do not use any
external agencies. We are members of the Institute of Fundraising and registered with the Fundraising
• make judgments and estimates that are reasonable and prudent;
Our fundraisers have all attended training provided by Directory of Social Change to ensure that we fully
comply with the Institute of Fundraising Best Practice guide. The Trustees believe that the training and
high standards of behaviour in the Fundraising team protect vulnerable members of the public from
behaviour which would be in any way unreasonable or place them under pressure to donate.
We are not aware of having failures in our fundraising standards and have received no complaints.
Provision of Information to Auditor
•state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
•prepare the financial statements on the going concern basis unless it is inappropriate to presume that
thecharitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show
and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the
financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also
responsible for safeguarding the assets of the charity and the group and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
So far as each of the directors is aware at the time the report is approved:• there is no relevant audit information of which the charitable company’s auditor is unaware, and
•the directors have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information (s. 234ZA (2)).
In preparing this report, the directors have taken advantage of the small companies exemptions
provided by section 415A of the Companies Act 2006.
Approved and authorised for issue by the Board of Trustees on 29th November 2019 and signed on their
behalf by:-
M Riall


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