Trustees’ Annual Report for the period
From April 1[st] 2023 Period start date To March 31[st] 2024 Period end date
Charity name: The Nottingham Education Trust
Charity registration number: 1006495
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance the education of young people, under the age of 21 and permanently resident within the boundary of the City of Nottingham. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Funding bursary awards in order for them to pursue worthwhile activities outside of their formal education, particularly in Music and the Arts, the Sciences, Languages, Travel and Cultural experience, Sports and Outdoor and Adventurous pursuits, who would otherwise not have the opportunity. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit and to that end have made available bursaries of up to £800 per individual. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference |
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|---|---|---|
| Policy on grant making | Para 1.38 | The Trust welcomes and encourages applications from all eligible young people, meeting the criteria. As a rule, young people under the age of 11 are not normally awarded a full bursary with the option to make a further application later, up to the maximum individual amount. The Trust only makes awards to individuals, not groups or organisations. The Trustees make every effort to support as many applications as possible within the available funds, providing the applicant is eligible, the amount of funding sought is proportionate to the costs and the activity is |
| considered appropriate, however, the decision of the Trustees is final. |
||
|---|---|---|
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers |
Para 1.38 | The Charity could not function without the interest and involvement of volunteers and this report seeks to mark the valuable contribution made by Trustees in ensuring that maximum benefit from the Charity is passed onto eligible young people in the form of bursaries. |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | We have seen a continuing increase in activity by young people after the restrictions brought on by the pandemic. Thus, 65 young people shared £14,750 in bursaries for activities as varied as Arts Workshops, Duke of Edinburgh Award at Bronze and Silver, Dance competitions in Prague, Volunteering in Kenya, India, Lourdes and attending a writers’ programme at the Nottingham Playhouse. This is the highest number of individual awards in one year since 1998, when the management of the Trust returned to the City. The idea of asking beneficiaries to meet the Trustees and feedback on their experiences was included at the time of the merger of charities and re-naming of the Trust in 2011. It continues to serve both the objectives of the charity in that it helps to promote the opportunity available and as further benefit to the young people encouraged to account for themselves in a semi-formal forum. This year, young people very successfully joined the meeting of Trustees. Recordings when available are posted on the Charity’s website. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | As noted above, this has been the Trust’s best year since bursaries re-began in 2011. 65 young people were beneficiaries and over £14k was distributed. |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | The charity does not undertake fund-raising activities. |
| Investment performance against objectives |
Para 1.41 | Through the Charities Aid Foundation’s Charities Deposit Platform, the Trust has been able to disperse some of its funds into I, 3 and 5 year fixed-term deposit accounts that not only have a favourable interest rate, but also mitigate the financial risk the Trust has been carrying for some time with funds over the FSCS protection limit in only one bank. |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | There has been continued expenditure on the property, but not at the level of previous years. The Trustees are seeking a further solution to retain the present level of income and are considering a long lease on the whole building. The Charity maintains a minimum restricted fund of £40,000 immediately available to mitigate any risks associated with maintaining the property asset at 96- 98 Derby Road, Nottingham. The current running costs are in the region of £3,000. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Reserves have only been accumulated over the last 10 years through judicious husbandry with a view to the costs necessary for the upkeep and repair of the property. Whilst there has been considerable expenditure over the last four years, having tenants throughout that period has meant that the Trust has been able to retain a stable balance. The Trust attempts to maximise its reserves through fixed-term deposit accounts, which have now been re- instated. The variety of 1-5 year deposits allows for continuous return, particularly if the maximum individual bursary award were raised at the AGM as per the Finance Policy. |
| Amount of reserves held | Para 1.22 | £120,000 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional) You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The Charity’s principal source of funds is rent from the property it owns at 96-98 Derby Road, Nottingham. The Trust seeks to maintain a very low-cost approach to the running of the charity, approximately 10% of income, so that as much as possible is available for distribution in bursaries. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | Beyond the fixed-term deposit accounts referred to above, the Trust has no further investments. |
| A description of the principal risks facing the charity |
Para 1.46 | The sole risk is vested in the property. However, the upgrading of the ground floor units over the last five years has also considerably reduced the risks to which the Trust was exposed. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
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|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Charity Commission Scheme |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trustees incorporated as a body. The Trustees updated the scheme through resolution at an AGM in July 2022, to bring it into line with current practice. |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | The Managing Trustees are drawn from: - Five Nottingham City Councillors appointed annually. - Former Trustees of the smaller educational charities merged in 2011 - Three former bursary holders by invitation - Four local people with significant experience of young people’s activities by invitation. |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | Trustees are kept abreast of their role and responsibilities and all communications from the Charity Commission are distributed. The Trust does not have a complex structure or objective, so induction is straightforward. |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | Although it is a separate legal entity from Nottingham City Council, the Scheme requires that five City Councillors be Trustees. Thus, there is a close link with the Council and its officers. The Council makes space available for meetings at which young people are asked to make presentations about the use of their bursaries. The use of the Council building adds kudos to the value of the presentation. The Charity meets four times a year and is operated by volunteers: A Clerk to the Trustees and a Finance Officer support the work of the Trustees. |
| Relationship with any related parties |
Para 1.51 | Trustees have a commitment to working with other charities that share the same educational interests and principles as this one. |
| Other |
Reference and Administrative details
| Charity name | The Nottingham Education Trust |
|---|---|
| Other name the charity uses | - |
| Registered charity number | 1006495 |
| Charity’s principal address | c/o NCC Post Room, Loxley House, Station Street Nottingham NG2 3NG |
Names of the charity trustees who manage the charity
| 1 4 6 7 8 9 13 14 |
Trustee name | Office (if any) | Office (if any) | Dates acted if not for whole year | Dates acted if not for whole year | Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|---|---|
| Cllr David Mellen | Nottingham CityCouncil | |||||
| Cllr Cheryl Barnard | Nottingham CityCouncil | |||||
| Cllr JayHayes | Deputy | Chair | Nottingham CityCouncil | |||
| Cllr AudreyDinnall | Nottingham CityCouncil | |||||
| Cllr Mohammed Saghir |
1 April 2023- 4thMay 2023 | Nottingham City Council | ||||
| David Stewart OBE DL |
Chair | Adult of standing with experience of Young People in Nottingham |
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| Dr Kadiatu Kanneh | Adult of standing with experience of Young People in Nottingham |
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| Hon Ald Virginia Klein |
Adult of standing with experience of Young People in Nottingham |
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| Linda Abbott | Adult of standing with experience of Young People in Nottingham |
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| Gary Fulwood | Adult of standing with experience of Young People in Nottingham |
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| CicelyClark | Ex-Bursaryholder | |||||
| Benjamin King | Ex-Bursaryholder | |||||
| Hon Ald Gill Haymes |
Ex-Trustee of merged charity | |||||
| Hon Ald David Smith |
Ex-Trustee of merged charity | |||||
| Director name | ||||||
Corporate trustees – names of the directors at the date the report was approved Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year |
|
|---|---|---|
| Nottingham City Council | CUSTODIAN TRUSTEE |
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Clerk to Trustees |
Alistair Conquer | The Nottingham Education Trust c/o NCC Post Room, Loxley House, Station Street, Nottingham NG2 3NG |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations The trustees declare that they have approved the trustees. report above. Signed on behalf of the c 's trustees Signature(s) Full name(s) Posltion (eg Secretary, Chair, etc) David S. Stewart OBE DL ir G.Con CHAIR ofTRUSTEES CLERK to the TRUSTEES Date 26 September 2024 26 September 2024
| CC16a 1006495 The Nottingham Education Trust Receipts andpayments accounts 01/04/2023 31/03/2024 To For the period from ~~===~~ |
CC16a 1006495 The Nottingham Education Trust Receipts andpayments accounts 01/04/2023 31/03/2024 To For the period from ~~===~~ |
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|---|---|---|---|
| Section A Receipts and payments | |||
| Unrestricted funds Restricted funds Endowment funds Total funds Last year* |
Examinier, therefore no figures | ||
| to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ |
|||
| A1 Receipts | |||
| Rental 24,540 - - 24,540 - Interest 867 - - 867 - Misc 300 - - 300 - - - - - - - - - - - - - - - - - - - - - - - - - - Sub total(Gross income for AR)25,707 - - 25,707 - ~~=—=>===~~ |
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| A2 Asset and investment sales, (see table). - - - - - - - - - Sub total - - - - - Total receipts 25,707 - - 25,707 - ~~————=—~~ |
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| A3 Payments Bursaries 14,750 - - 14,750 - Legal Fees 2,407 - - 2,407 - BuildingRepairs 4,440 - - 4,440 - Insurance 671 - - 671 - Clerk Fees 651 - - 651 - Miscellaneous 106 - - 106 - - - - - - - - - - - - - - - Sub total 23,025 - - 23,025 - A4 Asset and investment purchases, (see table) - - - - - - - - Sub total - - - - - Total payments 23,025 - - 23,025 - Net of receipts/(payments) 2,682 - - 2,682 - A5 Transfers between funds - - - - - A6 Cash funds last year end - - - - - Cash funds this year end 2,682 - - 2,682 - ~~=== ===~~ ~~——————~~ ~~=]>~~ |
- - - |
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| Section B Statement of assets and liabilities at the end of the period | |||
| Unrestricted Restricted funds Endowment |
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| Categories | funds funds Details |
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| to nearest £ to nearest £ to nearest £ |
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| B1 Cash funds | 1,000 - - 87,055 - - - - - 88,055 - - Deposit Current Total cash funds ~~———~~ |
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| Agreement Error OK OK (agree balances with receipts and payments account(s)) |
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| Unrestricted Restricted funds Endowment |
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| funds funds |
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| to nearest £ to nearest £ to nearest £ Details |
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| B2 Other monetary assets | - - - - - - - - - - - - - - - - - - ~~====~~ |
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| CCXX R1 accounts (SS) | 1 Fund to which asset belongs Cost (optional) Current value (optional) Details |
*previous year was below threshold for Independent Examinier, therefore no figures available.
16/09/2024
| B3 Investment assets | unrestricted 313 129,472 - - - - - - - - Flagstone ~~ne~~ |
|---|---|
| Fund to which asset belongs Cost (optional) Current value (optional) Details |
|
| B4 Assets retained for the charity’s own use |
- 350,000 - - - - - - - - - - - - - - - - 96-98 Derby Road ~~ase~~ |
| Fund to which Amount due When due |
|
| liability relates (optional) (optional) Details |
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| Signed by one or two trustees on behalf of all the trustees B5 Liabilities |
- - - - - Date of approval 26/09/2024 Print Name David S. Stewart OBE DL Signature ~~—-~~ |
CCXX R2 accounts (SS)
16/09/2024
2
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees | Charity NaThe Nottingham me The Nottingham Education Trust |
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|---|---|---|---|
| On accounts for the year | 2023-24 | Charity no | 1006495 |
| ended | (if any) | ||
| Set out on pages | 1-2 |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2024
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination (which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:[A Ross ] Date: 11/07/2024 Name: Ann Ross Relevant professional AAT qualification(s) or body (if any): Address: 72 Saxon Way, Cotgrave
1
Oct 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER