CHARITY REGISTRATION NO: 1056466 TAMAR EDUCATI RE RTOFTHE TR STEE AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ND 57 31 DECEM ER 020
TAMAR EDU ON TRusr YEAR ENDED 31 DECEMBER 2020 CONTENTS Page Reference and Administrative detai15 Report of the Trustees Independent Examinerfs Report Statement of Financial Actrvitie5 Balance Sheet Note5 to the Financial Statements
TAMAR EDUCATION TRUST YEAR ENDED 31" 0 CEMBER 2020 Page I REFERENCE AND ADMINISTRATIVE DEfAILS CHAR Tamar Education Trust REGisfERED CHARITY N MBER 1056466 UST Mr. R. Bruce Davies Mr. Kim R. Greeno Mr. John Leary (Chairl TREASURER Mr. R. Bruce Davies RINapAL ADDRESS Clo Mr. R. Bruce Davies. The Anchorage. 21 Stephen Road. Sticker. St. Austell. PL26 7HA. INDEPENDENT EXAMINER Mr. Keith F. Pavey, Broadoak Accounting serViS, 6 The Oaks, Wembdon Rise. Bridgwater, Somerset. TA6 7QL. Carter Allen PrNate Bank, 9 Nelson Stet. Bradford. BDI SAN.
Page 2 TAMAR EDUCATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 3 DECEMBER 2020 The Trustees present their Report along With the financial statements of Charity for the year ended 31, December 2020. The financial Statements have been prepared in accordance with the accounting policies set out on pages 7 and 8 and comply with the Trust Deed and applicable law. Stru ure o¥ernance and ma Goveml document The Charity is an unincorporated trust constituted by a Deed of Trust dated I" June 1996. The Trust was re8lStered with the Charity Commission for En8land and Wales on 28 June 1996 under Charity Registration Number- 1056466. Recrultment nd In The names of the Trustee5 who have served during the year and since the year end are set out on page l. None of the Tnjstees. nor any person connerted wlth them. received any remuneratlon or expenses from the Charity in the year ended 31" December 2020. Trustees are appointed by the exlsting Trustees and/or by the Congregation of the North Road Meetin8 Room Trust lof Plymouthl. Wlder netwoyk The Trustees rnalntaSn informal links with Trustees of slmllar charitie5 wilh a view to poolin8 experience consldered useful in pursuin8 the objerts of the Charity. Rlsk mana The Trustees have identified and reviewed the major rlsks to which the Charity is exposed and confirm that they have established systems or procedures to mana8e and mitlgate those risks. ctives and a¢tfvltles The principal charrtable purpose of the Trust Ss to provide premises forthe a¢fvancement of the education of children and young people from the ages of 5 to 18, in particular by o551Stance to their pantS to enable such children to be tau8ht otherwise than at a school as defined in the Education Acts 1944 to 1993- and any other charitable purposes for the benefft of the Christian5 fom)ing part of the world-wide felk)wship known ès the Plymouth Brethren Christian Church (the "Brethren"). The charlty owns the Freehold Premises of the Focu5 School Ptymouth Campus. Foulston Avenue, St. Budeaux, Ptymouth. PL5 IHL. emen Rent has been recer¥ed for the use of these premises, used for sthoollng and furnished and maintained for such purposes. The Trustees believe the Trust has provided Public Benefrt in this manner. The Plymouth Campus has been adapted for greater suitabilsty for Self Oirerted Learnin8. Public beneflt The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to thè Charity Commission's general guidance to Charities on public benefit. Fund• Funding is sought through grfts and donations from businesses and indNiduals in the school catchment aa. Gift aid is clamed on gifts when relevant.
TAMAR EDUCATION TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DE anclal revSew- Financial itlon In the Year to 31 December 2020. the Tnist had a surplu5 amounting to £75,132 of Incoming Resources over Resources expended. Total Income received in the year was £85.152 Compared with £24,947 in the preceding year. Page 3 MBER 2 20 CONTINUED Bank Balances, Net Current Assets and Total Funds a as stated on the attached Balance Sheet on page All Funds held were Unrestritted Funds. eserves As described in the Paragraph below regartling Future Plans. the Trustees consider that further fund5 as therein described will be required. and will put in place action accordingty. Free ReseNes at 31" December 2020 were £458.574. Plan ure s and Post 8alan Due to the Covid-19 Pandemic, the intended purchase of the Haxter Lodge site was subsequentlv renegotiated, and since the Year end has been completed for £525,000 plu5 legal costs. The purchase has been assisted by an interest free loan of E2(M).OW from a Local Business, which would also be prepared to acquire the site at its cost, should plannlng permission not be obtsined, although planning 15 expected to be favourable. Subjert to the latter. it is intended to erect a replacement Focus School Campus at a budgeted cost of a further £1,550,OLKI approximatety. The projert is to be funded by borrowin8 over 5 years from Oneschool Global U.K., a registered charity,. from the subsequent disposal of the exlsting School Campus Property: and funds on hand and to be raised. It is hoped that the project may be completed by the end of 2022. Effert of COVID-I Pandem The Focus School Plymouth Campus was unable to use the Trust Premises durln8 certain periods in 2020, due to Government requirements relating to the pandemic lockdown which were fully adhered to. Statement Trust 'Res slbllltles The Trustees are responsible for preparing the Report of the Tmstees and the financial statements in ccordance with applicable law and United Kingdom Accountin8 Standard5 (United Kingdom Generally Accepted Accountin8 Practice). The law applicable to charities in En8land and Wales. the Charities Att 2011, Charity IAccount5 and Reportsl Re8ulations and the provisions of the Trust Deed require the Trustees to prepare finantial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incomin8 resources and application of resources, includlng the Income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to select suitable accounting policies and then apply them consistentlv- obseThe the methods and principles in the Chartty SORP: make ju(Igements and estimates that are reasonable and prudent". prepare the financial statements on the 80in8 concern basis unless rt inappropriate to presume that the charity will contlnue in business. The Trustees a responsible for keeping proper accounting records which disclose wr(h reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the finantial statements cornpty with the Chartties Act 2011. the Chartty (Accounts and Reports) Regulation5 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the pVentIOn and detettion of fraud and other iThe8ularities. On behalf of the board: R. Bruce Davies Trustee Date:___....................-........
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TAMAR EDUCATION TRUST FOR THE YEAR ENDED 31" DECEMBER 2020 Page 4 I report to the Trustees on my examination of the accounts of the Tamar Education Trust for the year ended 31" December 2020, which are set out on pages 5 to 9. and on the Trusteed Report for that year which is attached hereto. RESPEcfivE RESPONSIBIUTIES OF TRUSTEES AND EXAMINER The Charitrfs Trustees are responsible for the preparation of the accounts in accordance wf(h the requirements of the Charities Act 20111.the Act'l. I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011 Act and in carryin8 Out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451511bl of the 2011 Act. IS OF THE INDEPENDENT EXAMINER'S R My examination was carried out in accordance wrth the General Directions given by the Charlty Commission. An examination includes a review of the accounting COrdS kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual item5 or diKlosures in the accounts, and seeking of explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report Is Ilmited to those matters set out in the statements below. INDEPENDENT EXAMINIER, ATEMENT I have completed my examination. I confirn) that no material matters have come to my attention In connection wlth the examination giving me cause to believe that in any material respect.. 111 accountin8 records were not kept in respett of the Trust as required by section 130 of the Act; or 121 the accounts do not accord with those record5: or 131 the account5 do not comply wrf(h the applicable requlrements concerning the form and content of accounts set out in the Charities IAccoLTrnts and Reports) Regulations 2008 other than any require- ment 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 hève come across no other matters in connettion with the examinatlon to which attention should be drawn In this report in order to enable a proper understandin8 of the accounts to be reached. Keith F. Pavey, Broadoak Accounting Services, 6 The Oaks. Wembdon Rise, Bridgwater, Somerset. TA6 7QL. Date l tsr sEpEl 2a2 I
TAMAR EDUCAnoN TRUST STATEMENT OF FINANaALACTivmES FOR THE YEAR ENDED 31- DECEMBER 2020 Pa8e 5 Note Year to 31.12.20 Year to 31.12.19 ALL ITEMS RELATE T NR Rl D FUNDS INCOME FR Rent Receivable Legacy Rece¢ved Bank Interest Received 24,000 79.685 467 947 85,152 24,947 RESOURCES EXPENDED PROPERTY RUNNING COSTS Repairs and Maintenance Depreciation 3,857 5.665 13,530 7.553 GOVERhlANCE COSTS Accountancy and Independent Examine¢s Costs 498 786 alRe rces nded 10,020 21,869 SURPL FROM IN MIN UR 75,132 3,078 ENTOFF NDS 75,132 3,078 CONCIU TALF ON OF FUNDS HT FORWARD 1,504,703 1,501,625 NOS IED FORWARD 1,579.835 1,504,703 The Notes on pa8e$ 7 to 9 form a part of these Flnancial St•tements. All of the above attfvities are classed as continuing and there are no gains or losses otherthan those included above.
Page 6 TAMAR EDUCATION TRUST BAIANCE SHEET AS AT 31- DECEM ER 2020 Note 31.12.20 31.12.19 TANGIB XED Freehold Land and Buildings Furniture, Fittings and Equipment 1.104.268 16.993 1,104,268 22,658 al Fi 1.121,261 1,126,926 RRENT AS5 Prepayments Bank Account 3,414 455,556 378,427 458,970 378,427 LE CURR Amoun Fallln Accruals LIABILITIES Due Wlthln One Year 13961 16501 13961 16501 NET CURRENT 458,574 377,777 NET ASSErs 1.579.835 1,504,703 Represented by:_ FUNDS- UNR STRicfED FUNDS Openin8 Balance Net Surplus ft)r the Year 1.504,703 75.132 1,501,625 3,078 1.579.835 1.504,703 The Unaudlted Financlal Statements were approved and authorised for issue by the Tnjstees of Tamar Education Trust on the undementioned date, and were signed on their behalf by Trustee Date The Notes on Pages 7 to 9 form a part ofthese Financial Ststements.
Page 7 TAMAR EDUCATION TRusr NOTES TO THE FINANa STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POUCIES 1.1 Ba is of Flnan I Staternents The Financial Statements have been prepared in accordantr with the Statement of Recommet)ded Practice- Accounting and Reporting by Chartties preparing their Accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16th July 2014 and incorwratin8 update bulletins l and 2. and the Financial Reporting Standard èpplicable in the United Kingdom and Republic of Ireland IFRS 1021 and UK Generally Accepted Accountin8 Practice as it applie5 from I" January 2015. The funrtional current of the charity Is steding 1£). The Trust meèt5 the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transartion value unless otherwise stated in the relevant accounting policy notelsl. 1.2 Income Donations are recognised in the year in which there is entitlement and probability of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil condltlons before becoming entitled to it or where the donor has specified that the income is to be expended In a future year. Gift aid is added to the value of the donatKJn to which it relates. Investment income is occounted for on a receNable baslk 1.3 Ex nds Expenditure is included on an accruals basis. Liabilities are c0Sn1Sed as soon as the Is a le8al or Constructive obligation committing the charity to pay out resources. Charitable actNities comprise those costs directly attributable to the fulfilment of the Charitable objècts. vem Governance costs Comprise all costs invofving the public accountability of the Charity and costs related to Statutory reqU1Ments. Assets nd De r•datl¢)n al Freehold Pro Freehold Land and Buildings at the Plymouth Campus are stated in these Financlal Statements at Cost. No depreciation is charged thereon, as the realisable value is considered to be not less than book value. Expenditure sinte acquisition has been augmented by substantial amounts of free labour provided on improvement works. bl Furniture Frttln These are stated at Cost less depreciatK)rt, which is charged at 25% per annum on the reducin8 balance basis. This is considered suffictent to reducethe bookvalue to any residualvalue by the end of the useful lrfe of the assets. The Trust is a gIStered Charity and is not liableto United Kingdom tsxation on charitable activities, provided Income falls within the charitable exemptions and is spent on charitable purposes.
Page 8 TAMAR EDUCATION TRusr NOTES TO THE FINANaAL STATEMEiifs FOR THE YEAR ENDED 31" DECEMBER 20 1.7 Funds All Funds are General Unrestricted Funds and are free forthe Trustees to use for any purpose in furtherdnce of the Trusvs Charitable objects. 1.8 Goln Concem The Trustees consider that there are no material uncertainties about the Chartys abilty to continue as a going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period. In addition, the Trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the Trust to continue as a 8oin8 concern. TANGIBLE FIXED ASS These Comprise Furniture. Flttings & Grand Totsl Land & Bulldln As at 01.01.2020 nd As at 31.12.2020 1,104,268 106,091 1,210,359 PRECIAT As at 01.01.2020 Charge for Year 83,433 5,665 83,433 5,665 As at 31.12.2020 89,098 89,098 KVAL At 31.12.2020 1.104.268 16.993 1,121,261 At 31.12.2019 1.104,268 22.658 1,126,926 The Freehold Land and Buildings are at the Focus School Plymouth Campus, Foulstone Avenue, St. Budeaux, Plymouth, PL5 IHL. 3. TRUSTEES. REMUNERATION AND EXPENSES No Trustees receNed any remuneration or other beneffts for servites rendered in the year or the preceding year. Expenses incurred were reimbursed, if applicable at Cost, with no benefit whatsoever arisin8. 4. EMPLOYEES AND VOLUNTEERS The Trust had no employees in the year or the preceding year. The Trust has reld on volunteers to carry out Management, Administration and certain Maintenance work. 5. INDEPENDENT EXAMINER'S FEES Year to 31.1220 Year to 31.12.19 498
Page 9 TAMAR EDUCATION TRLIST P40TES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31- DECEMBER 2020 BALANCE SHE EVENTS AND CAPITAL COMMITMENTS Due to the Covid-19 Pandemlc, the intended purchase of the Haxter Lodge Site was subsequentlv renegotiated. and since the Year end has been completed for £525,(KK) plus legal costs. The purchase has been assisted by an interest free loan of £2(.(XI from è Local 8usiness. whith WOLtld also be prepared to acquire the site at its cost, should planning permission not be obtained, although planning is expected to be favourable. Subject to the latter, it is intended to erect a replacement Focus School Campus at a budgeted cost of a fvrther £1.550.0 approximatety. The project is to be funded by borrowing over 5 years from Oneschool Global U.K., a registered charity- from the subsequent disposal of the exlstlng School Campus Property: and funds on hand and to be raised. It is hope(J that the project may be completed by thè end of 2022. 7. RELATED PARTY TRANSAcfioNS No related party transactions arose in the Yeaf to 31 December 2020. In the previous year goods were purchased as below, at cost with no benefit orising to the Trustee stated. Yearto 31.12. From Green Circle Bespoke Glazing Ltd lof which Mr. Kim R. Greeno is a Member) 1,779 8. MOVEMENT5 IN FUNDS Year to 31.12.20 Year to 1.12.1 Unrestrlcted F Openin8 Balance Incoming Resource5 Resources Expended 1.504,703 85,152 110,020) 1.501,625 24,947 121.8691 Closing Balance 1.579.835 1.504,703