Old Bancroftians’ Association Sixth Form Scholarship Trust Trustees’ Report for the year ended 5 April 2023
The Trustees present their Report and Accounts for the year ended 5 April 2023.
The Accounts have been prepared in accordance with the accounting policies set out in Note 4 to the Accounts and comply with the Charity’s Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued in March 2005.
Structure, Governance and Management
The Charity is governed by a Charitable Trust Deed dated 18 February 1993.
The Trustees who served during the year are: Mr.A.L.Kodish (Treasurer) Ms.Z.Mather Mr.D.J.Moore Mr.A.Pop (Secretary) Mr.M.J.Sumner
The Charity’s Deed stipulates that not less than three and not more than seven Trustees shall be appointed by the President of the Old Bancroftians’ Association for the time being, after consultation with the Committee of the Association. New Trustees are provided with a copy of the Trust Deed, the latest Report and Accounts and copies of Minutes of recent Trustees’ meetings. All Trustees are appointed on the basis of their experience and knowledge relevant to the Trust and of Bancroft’s School. The Trustees include in their number professionals of different disciplines as well as lay people with relevant experience.
Trustees’ meetings are usually held twice each year. Trustees appoint one of their number to act as Secretary and comply with their statutory administrative duties and another to act as Treasurer and monitor the performance of invested funds held in accordance with the Objects of the Trust.
The Trustees acknowledge the relationship with the Old Bancroftians’ Association and Bancroft’s School.
The Trustees have identified the risks to which the Charity is exposed and are satisfied systems are in place to mitigate exposure to those risks.
Objectives and Activities
The Charity’s objectives are to hold the Scholarship Fund and income thereof to further the education of pupils at Bancroft’s School. Scholarships or bursaries may be awarded or grants made to eligible children to assist with fees for education in the Sixth Form.
The Trustees achieve their objectives primarily by meeting one half of the fees of Sixth Form pupils.
Public Benefit Statement
The Trustees have complied with their duty under Section 17 Charities Act 2011 to have regard to the guidance published by the Charity Commission.
Achievements and Performance
The nature of investments, relationship between cost and market value and investment income of the Scholarship Fund established by the Trustees is set out in Note 1 to the Accounts. The Fund has been built up from individual donations, grants and fundraising activities.
In the year to 5 April 2023 the Trustees have been able to meet their responsibilities by supporting four pupils in the Sixth Form and the Trustees are pleased to report:
Scholar 1 (September 2021 – July 2023)
Scholar 1’s Sixth Form has been a resounding success story. An exceptional student academically, all of their teachers have praised their outstanding progress. Highly committed and incredibly personable, their determination and diligence have been rewarded by success through the UCAS process, confirming Oxbridge - a real feather in their UCAS cap! Not only have they excelled in the classroom, they have brought their 'joie de vivre' to all co-curricular activities they have made commitments to. From Interhouse Performing Arts, poetry to charity, it was obvious from the start that they would fit in perfectly at Bancroft's, evincing the school values in every way. Leaving their previous School to join our Sixth Form, they brought with them a Jack Petchey Award for commitment, leadership and excellence. They continued in this vein and became Head of both Charity and Sport and a prefect to the Lower Fourth in their Upper Sixth year. A charming yet unassuming character, they should be proud of what they have achieved – their award from This Is Local London and co-directing a James Bond themed Family Evening, raising over four thousand pounds for charity (ELHAP and Haven House) being some of their fantastic achievements. They have merited their award of Bancroft’s Scholar in every way and they are a terrific talent both in Science and Languages; they will be a great asset to any university and future employers and will be sorely missed in North House. I wish them the best for what lies ahead and hope that success and happiness are at the heart of their future.
Scholar 2 (September 2022 – July 2024)
Scholar 2 was a welcome addition to the tutor group when they joined Bancroft's in September 2022. With their sociable and caring nature, they settled in quickly, both socially and academically, and involved themselves in a range of co-curricular activities. This year, they have been an effective Head of Charity, appealing persuasively for contributions from their peers and visiting other year groups to organise their charitable ventures. They have established good connections with the pupils in their role as a 3rds prefect, and Mr Jaques (the 3rds tutor) has noticed that the pupils look forward to seeing them. They were also an enthusiastic member of the choir during the Inter House Performing Arts Competition. Their teachers are pleased with their progress, especially in class, and offer constructive suggestions for further improvement; reading the questions carefully, for example, and revising and consolidating material, using practice questions.
Scholar 3 (September 2022 – July 2024)
Scholar 3 has had an excellent term and should be encouraged by the hugely positive comments within the report; their teachers clearly all recognise their hard work and focus as evidenced by the amount of E ATL grades. They are clearly making excellent progress in all their subjects and on target for a strong set of grades next summer. They are in a good position as they head towards the final few months, but there is still some useful advice that I am confident they will take on board in order to ensure the grades I know they are striving for. They have also navigated some personal challenges successfully and have remained focussed at all times. They have already had an offer for university and I have no doubt that more will come, and I look forward to hearing more positive news.
Scholar 4 (September 2022 – July 2024)
Scholar 4 has had an excellent term and should be encouraged by the hugely positive comments within the report; their teachers clearly all recognise their hard work and focus as evidenced by the E ATL grades. They are clearly making excellent progress in all their subjects and on target for a strong set of grades next summer. They are in a good position as they head towards the final few months, but there is still some useful advice that I am confident they will take on board in order to ensure the grades I know they are striving for. They have yet to receive an offer from university but I have no doubt that they will come in shortly and I look forward to hearing more positive news. I am impressed how they have dealt with very difficult personal circumstances and have managed to maintain their excellent academic achievements.
The Trustees continue to seek opportunities to increase the Fund through grants and donations from alumni and individuals and organizations associated with the School.
Declaration
The Trustees declare that they have approved this Trustees’ report.
Signed on behalf of the charity’s Trustees
Signature Full name Adam Louis Kodish Position Treasurer Date 25 January 2024
OBA Sixth Form Scholarship Trust Receipts and Payments Accounts to 5 April 2023 and 5 April 2022 RECEIPTS Income frorn Investrnents COIF Dividends Received 2023 2023 NOTE 2022 2022 NOTE 8,515 8,651 Donations Received Gift Aided Donations other Donations Gift Aid receipt from HMRC 2,164 3,660 11,280 541 13,825 6,513 Profit on Sale of Investments COIF Fixed Interest Fund -3,751 254 Cost of Sale of Investments COIF Fixed Interest Fund 50,254 9,746 Total Receipts 68,842 25,164 PAYMENTS Bancroft's School -30,419 -19,453 Purchase of Investments COIF Investment Fund -36,502 2.3, 2.4 Total Payments -66.921 -19.453 Net Incoming (Outgoing) Funds 1,921 5,711 Bank Balance Brought Forward COIF Investments at cost Total B,413 160.112 2.703 2 173,864 168,526 176.566 Closing Balance 170,447 182,277 FUNDS IN HAND COIF Investments at cost Bank Balance Carried Forward 160,112 10,334 1 173,864 8,413 Grand Total 170,447 182,277
OBA Sixth Form Scholarship Trust Receipts and Payments Accounts to 5 April 2023 RECEIPTS Income frorn Investments COIF Dividends Received NOTE 8,514.91 Donations Received Gift Aided Donations Other Donations Gift Aid receipts from HMRC 2,004.00 11,280.00 541.00 13,825.00 Profrt on Sale of Investments COIF Fixed Interest Fund -3,751.12 Cost of Sale of Inve5tment5 COIF Fixed Interest Fund 50,253.60 Total Receipts 68.842.39 PAYMENTS Bancroft's School -30,419.00 Purchase of Investments COIF Investment Fund -36,502.48 2.3, 2.4 Total Payment5 -66,921.48 Net Receipts (Payments) 1.920.91 BALANCESHEET AS AT 5 APRIL 2021 BANK ACCOUNT At 6 Aprll 2022 Current Net Receipts (Payments) At 5 April 2023 CUrnt 8,413.46 1,920.91 10.334.37 INVESTMENTS COIF Investments at cost at 5 April 2023 160,112.48
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Old Bancroftians, Association Sixth Form Scholarship Trust Independent Examiner's Report I report to the Trustees on my examination of the AGcounts of tlL¢ Old Bancroftian$' Association Sixth Forni Scholarship Trust for the year ended 5 April 2023, which are set out on pa8es 3 to 5 of the Charity's Trustees. Report for the year. Responslbllltles basls of report The Charity's Trustees are tesponsible for the preparation ofthe Attounts in aCcordat with the requirements of the Charities Act 2011{the 2011 Act). I report in respect of my examination of th¢ Trust's accounts ¢arried out under section 145 of the 2011 Act atkd in carrying oul rny examination I have followed all the applicable Directions given by the Chariry Commission under section 145(5Xbl of the Act. Jndep¢ndent Eximiner's Stgtement I have eompleted my examination. I confirm that no material atterS hav¢ ¢ome to my attention in connectson with the examination 8iving me cause to believe that in any material r¢sp¢¢t= l.A¢counting r¢¢ord$ were not k¢pt in r¢spect of the Trust as required by section 130 of theAet' or 2. The accounts do not accord with those records. 3. the a¢¢ounts do not comply with the applicable requirements ¢on¢erning the form and eontent of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other th30 ally 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 connectton with the examinaiion io whi¢h att¢ntion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Name.. Mi¢ha¢l Watt5 Relevant professional qualification or body: FCCA CTA CF Address.. 5 Devon Close. Buckhurst Hill, Essex IG9 5LF Date..