Trustees’ Annual Report for the period
From April 1[st] 2024 Period start date To March 31[st] 2025 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 |
||
|---|---|---|
| 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 | The numbers of applications has continued to maintain a higher level than in years prior to the pandemic with 58 receiving a total of £17,900 for activities as varied as Arts Workshops, Duke of Edinburgh Award at Bronze and Silver, Dance competitions in Spain, Volunteering in Ghana, Lourdes and attending a performers’ programme at the Nottingham Playhouse. We can report again that this is the highest number of individual awards in one year since 1998, when the management of the Trust was re-established in 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. Once again, this year, young people very successfully joined the meeting of Trustees. As an added bonus this year, Trustees were invited to one centre where they were able to meet and talk with over 50 recipients of bursaries for their Duke of Edinburgh Award. 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 | The number of applications has remained at a high level this year with 58 approved and the highest amount of disbursement since distribution re-started in 2011. |
|---|---|---|
| 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. This year, accounts that matured in November and December were pooled into a 1 year account to offer Trustees flexibility beyond the sale of the property. |
| Other | At its meeting on the 26thSeptember 2024, the Trustees formally approved the decision to put the property asset on the open market. Both current tenants have an interest in the purchase of the property and Trustees sought professional help from commercial property specialists Musson Liggins, who had previously done valuations for the |
Trust in 2016 and 2001, to develop the sale. The Custodian Trustee has been informed of the Trustees decision.
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Trustees have resolved to dispose of the asset and re-invest in a property with less problems and potentially more income. The Charity maintains a minimum restricted fund of £40,000 immediately available to mitigate any risks associated with maintaining the current property asset at 96-98 Derby Road, Nottingham. The current running costs are in the region of £3,500. |
| 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 in recent 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 | £140,000 |
| 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 |
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, which has required investment over the last 5-6 years. However, continuing problems related to the property have encouraged the Trustees to seek an alternative source of income, from the sale of this property and purchase of another less problematic and time- consuming. 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. |
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 10 11 12 13 14 15 16 17 |
Trustee name | Office (if any) | 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 | Vice Chair | Nottingham CityCouncil | ||
| Cllr AudreyDinnall | Vice Chair | Nottingham CityCouncil | ||
| Cllr Samina Riaz | Nottingham CityCouncil | |||
| David Stewart OBE DL |
Chair | Adult of standing with experience of Young People in Nottingham |
||
| Dr Kadiatu Kanneh | Adult of standing with experience of Young People in Nottingham |
|||
| Hon Ald Virginia Klein |
1stApr.-27thJun. 2024 | Adult of standing with experience of Young People in Nottingham |
||
| Linda Abbott | Adult of standing with experience of Young People in Nottingham |
|||
| Gary Fulwood | Adult of standing with experience of Young People in Nottingham |
|||
| Martha Toogood | 26thSept- 31stMarch 2025 | Adult of standing with experience of Young People in Nottingham |
||
| CicelyClark | 1stApr.-26thSept 2024 | Ex-Bursaryholder | ||
| Benjamin King | Ex-Bursaryholder | |||
| Lauren Osborne | Jan 2025 | Ex-Bursaryholder | ||
| Hon Ald Gill Haymes |
Ex-Trustee of merged charity | |||
| Hon Ald David Smith |
1stApr.-27thJun. 2024 | 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
| 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 six years has also considerably reduced the risks to which the Trust was exposed. |
| Other |
Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the cha . 's trustees Signature(s) Full name(s) Posltlon (eg Secretary, Chair, etc) David S. Stewart OBE DL Alista .Conque CHAIR of TRUSTEES CLERK to the TRUSTEES Date July 2025 July 2025
| CC16a 1006495 The Nottingham Eduacation Trust Receipts andpayments accounts 01/04/2024 31/03/2025 To For the period from ~~———~~ |
|
|---|---|
| Section A Receipts and payments | |
| Unrestricted funds Restricted funds Endowment funds Total funds Last year |
|
| to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ |
|
| A1 Receipts Rental 24,100 - - 24,100 24,540 Interest 894 - - 894 867 Misc 250 - - 250 300 - - - - - - - - - - - - - - - - - - - - - - - - - Sub total(Gross income for AR)25,244 - - 25,244 25,707 A2 Asset and investment sales, (see table). - - - - - - - - - Sub total - - - - - Total receipts 25,244 - - 25,244 25,707 ~~== 5 = ===~~ ~~—————~~ |
|
| A3 Payments Bursaries 17,900 - - 17,900 14,750 Legal Fees 3,473 - - 3,473 2,407 BuildingRepairs - - - - 4,440 Insurance 708 - - 708 671 Clerk Fees(travel) 693 - - 693 651 Miscellaneous - - - - 106 Independent Examiners Fees 250 - - 250 - IT Domain 674 - - 674 - - - - - - Sub total 23,698 - - 23,698 23,025 A4 Asset and investment purchases, (see table) - - - - - - - - Sub total - - - - - Total payments 23,698 - - 23,698 23,025 ~~=== ===~~ ~~———————~~ |
|
| Net of receipts/(payments) 1,546 - - 1,546 2,682 A5 Transfers between funds - - - - - A6 Cash funds last year end - - - - - Cash funds this year end 1,546 - - 1,546 2,682 ~~—SS=S=~~ ~~>= >~~ |
682 - - 2,682 |
| Section B Statement of assets and liabilities at the end of the period | |
| Unrestricted Restricted funds Endowment |
|
| Categories funds funds Details |
|
| to nearest £ to nearest £ to nearest £ |
|
| 1,000 - - 71,365 - - - - - 72,365 - - Deposit Current B1 Cash funds Total cash funds ~~————_—~~ |
|
| Agreement Error OK OK (agree balances with receipts and payments account(s)) |
|
| Unrestricted Restricted funds Endowment |
|
| funds funds |
|
| CCXX R1 accounts (SS) ~~1~~ 0~~2/09/2025~~ to nearest £ to nearest £ to nearest £ - - - - - - Details B2 Other monetary assets ~~——~~ ~~—~~ |
- ~~——_——~~ Fund to which asset Current value Cost (optional) Details belongs (optional) B3 Investment assets Flagstone unrestricted - 143,214 - - - - - - - - ~~— ==~~ Fund to which asset Current value Cost (optional) Details belongs (optional) B4 Assets retained for the 96-98 Derby Road unrestricted charity’s own use - - - - - - - - - - - - - - - - ~~=—===~~ Fund to which Amount due When due Details liability relates (optional) (optional) B5 Liabilities - - - - - Signed by one or two trustees on behalf of all the trustees Signature Print Name Date of approval ~~=~~ David Stewart ~~|~~ 16-Oct-25 2 02/09/2025
CCXX R2 accounts (SS)
02/09/2025
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees On accounts for the year ended Set out on pages Responsibilities and basis of report |
Charity Name The Nottingham Education Trust |
Charity Name The Nottingham Education Trust |
Charity Name The Nottingham Education Trust |
|---|---|---|---|
| 31stMarch 2025 | Charity no (if any) |
1006495 | |
| 1-2 | |||
| I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended31/03/2025 As the charity's trustees, you are responsible for the preparation of the 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: Ann Ross Date: 17[th] July 2025 Name: Ann Ross Relevant professional Accounting Technician qualification(s) or body (if any): Address: 72 Saxon Way Cotgrave
1
Oct 2018
IER
Nottingham
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