31 March 2021 Company Number: 3879854 Registered Charity Number: 1078330 ## **AGP** Chartered Accountants and Statutory Auditors Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH ## Year Ended 31 March 2021 Contents 2 Legal and Administrative Information 3 - 16 Report of the Trustees 17 – 21 Independent Auditors’ Report to the Trustees 22 Statement of Financial Activities 23 Income and Expenditure 24 Statement of Financial Position 25 Statement of Cash Flows 26-33 Notes to the Financial Statements ## **Annual Report 2020-21** Map of volunteer applications received in 2020/21 100% of service users (volunteers and schools) would use us again Net Promoter Score **93** **----- Start of picture text -----**
41% 29% 8.5% 4.5%
of our
of our increase in increase in
applicants applicants volunteers volunteers
are under 35 are from BAME applying appointed
backgrounds
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## **“** ## **“** Governors for Schools provides an excellent service – we now have 6 governors on our governing board recruited through Governors for Schools… and the quality of governor candidates they provide is outstanding. I was contacted promptly after submitting my application form with a phone call and an email with all the information I needed. I was then placed in one of my local schools swiftly. I am grateful for the speed and professionalism of your staff. Jo Winters, Chair of Governors, Ealing Grange Primary School, Ealing ## Adil Dirie Governor, Grange Primary School, Ealing ## **“** ## **“** A great service provided promptly, was responsive to queries and accommodated the inevitable delays caused by COVID issues. We now have a really strong addition to our governing body. I will definitely recommend your services to other governing bodies. The skills set quality of the governor suggested for my school were perfectly matched to the gaps within the full governing body. I am delighted with the appointment because I’m confident this governor will strengthen the FGB moving forwards. ## Kevin Burke Chair of Governors, Penworth Priory Academy, Lancashire ## Joanne Maher Head Teacher, Abbey Village Primary School, Lancashire 1 ## **Legal and administrative information** Trustees who served the charitable Linda Wilding (Chair) company during the year Ian Armitage Jane Higgins Martin Lawrence MBE Anne Punter David Rowsell Henry Colthurst (resigned 13th October 2020) Mark Twigg Dominic McGonigal Adrian McLean (appointed 14th October 2020) Anita Ralli (appointed 2nd March 2021) Company Secretary Tara Hill Chief Executive Hannah Stolton Reistered Office St Magnus House 3 Lower Thames Street London EC3R 6HD Company Registration number 3879854 Charity Registration Number 1078330 Auditors AGP Chartered Accountants Sutton Quays Business Park Sutton Weaver Runcorn WA7 3EH Bankers Lloyds Bank PO Box 1000 Andover BX1 1LT Solicitors Allen & Overy LLP One Bishops Square London The trustees present their annual report together with the audited financial statements for the year ended 31st March 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. ## **Structure** Governors for Schools is a company limited by guarantee and a registered charity. The company’s Memorandum and Articles of Association are the primary governing documents. 2 ## **Who are we?** ## **Our mission** Governors for Schools is a national education charity that finds and places skilled people on governing boards across England and Wales. We have over 20 years’ experience recruiting high-calibre volunteers from a range of backgrounds, so that they can bring their knowledge to school boards - and make a difference to how schools are run. We’re part of our volunteers’ governor journey and are committed to playing an active role in their development in the role. We believe that placing skilled volunteers from diverse backgrounds on school boards contributes to effective governance. A strong and diverse board enables a school to provide pupils with the best education possible, helping children and young people reach their full potential. We’re committed to providing those responsible for appointing governors with the best governor and trustee recruitment service in the sector. ## **Our vision** We’re working to ensure that every school in England and Wales has excellent governance, driving improved educational outcomes for all children and young people. ## **Our Objectives** We facilitate the recruitment and placement of people with business and management skills who are willing to act as governors with the aim of strengthening the governing boards of schools. We believe this is of benefit to the public through the advancement of education by making available advice and assistance to all schools. The company reviews its aims, objectives and activities each year ensuring they remain focused on the stated purpose of the charity. The Trustees refer to the guidance given by the Charity Commission on public benefit during this process and assess how successful each activity has been and what benefits have been brought to the groups of people the charity is set up to help ## **Our values:** ## Excellence - Attention to detail and a desire to continually improve by seeking and using feedback - A ‘can do’ attitude and sense of pride in delivering high-quality work at all times ## Integrity - Know when to challenge assumptions and suggest better approaches - Question actions inconsistent with our values ## Collaboration - Work with other organisations to provide the best service possible to all our stakeholders - Encourage agile, cross-team working to use all available skills and resources ## Pioneering - Take initiative and find creative and effective ways to get things done 3 **Expenditure 2020-21** **----- Start of picture text -----**
£15,577.00
£725,561.00 £13,704.00
£8,383.00
£25,245.00
£10,415.00
£112,253.00
Salaries & expenses
eLearning & impact
Technology
Business development
Marketing
Legal, professional & governance
Occupancy
Administration
£19,989.00
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## **Why is our work needed?** In times of immense challenge and change, governors have provided support and guidance to school leaders. The role of governor or trustee will be no less important as schools navigate the Covid recovery landscape. With the drive to academisation, the need for skilled governing boards is as important as ever. Our links to a diverse group of professionals will be essential to ensure that governing boards are serving their schools in the best way possible. Governors for Schools aims to: - Increase the number of governors placed in schools and trained to be effective - Raise our profile in education and business sectors - Understand and report our impact - Broaden the funding base of the charity During a difficult year for schools, who have worked tirelessly to meet the needs of every pupil, we’re proud to have provided support by finding volunteers who bring skills and passion to drive improvement – even in challenging times. 4 **Linda Wilding** Chair, Governors for Schools Trustee, GEP multi-academy trust, Surrey ## **Chair of Trustees Report** This year has seen immense challenges across the whole of the education sector, and I am proud of the way Governors for Schools has continued to support school boards. Despite the uncertainty, the number of volunteers applying to become a governor has increased by 9%. Governing boards have of course had to adapt their ways of working, with meetings being held online. Establishments that have never worked remotely have quickly adjusted, and it is a testament to their adaptability that we have seen another year on year increase in the number of volunteers appointed. Our thanks go to all the hardworking chairs of governors, headteachers, and clerks, who have used our service. We continue to focus on reaching volunteers with essential skills from diverse backgrounds and encouraging them to apply for the role. We are delighted that this year, we have seen so many applications from both those under the age of 35 and those from a BAME background. As boards move to a blended approach, with a mixture of online and in person meetings, we will be able to open up the role to an even more diverse group of people. We have worked hard to increase our reach in areas where it is a challenge to find suitable volunteers. Through extensive social media outreach, we have put more rural and deprived locations under the spotlight and seen a correlated increase in placement numbers. 15% of our volunteers have been placed at schools that are rated Requires Improvement by Ofsted. These volunteers bring their skills to the schools that need it most, and we’re there to support them on their journey. This year we have made progress against our goal to increase our funding from corporate supporters, reducing our reliance on funding from donations. Through spreading our sources of income we aim to become a more sustainable organisation. Our model is based on all employees engaging with fundraising - working with our partners to build relationships that last. We have been delighted to welcome additional corporate supporters into partnerships which benefit schools, their pupils and the volunteers through ongoing professional development. Our thanks go to all those that support us financially meaning we can continue the work we do to support schools across England and Wales. Our initiative to extend our model into Wales this year has been a success. Through our work with universities and local businesses, we have engaged new people, and by building partnerships with local authorities, we have quickly placed them into long held vacancies. 5 I would like to extend my thanks to all the staff at Governors for Schools and the trustees who give their time so freely. We are grateful for the service provided by Henry Colthurst who stepped down in October, after 2 and a half years as a trustee. We were delighted that Adrian and Anita joined the board of trustees recently and we have already benefitted from their expertise and passion for education. Finally, our thanks go to the thousands of volunteers who have started their journey to become a school governor with us this year. The community spirit has shone through in difficult times and we’re optimistic, having seen more people coming forward to support their local schools that have been the bedrock of communities. Over the next year we will look to build on this further. We’ll also incorporate remote governance into our work, enabling schools to access skills and a more diverse pool of volunteers. **“** Governors for Schools made the application and placement process manageable. The Partnerships Manager provided great support as he was in regular contact with me effectively managing my expectations on the application and placement process. Really happy with my placement and service provided by Governors for Schools! **Madawa Chirikeni** Governor, Joseph Turner Primary, Sandwell 6 **Hannah Stolton** CEO, Governors for Schools Chair of governors, Nazeing Primary School, Essex **CEO Report** We’ve been delighted to see growth across our organisation this year, despite all the challenges that have come with Covid. I have been proud to lead the team who have continued to work with dedication to ensure more volunteers are placed as governors. Unsurprisingly, we had a slow start to the year, as schools adjusted to working in new ways. During this time, governing boards moved to online meetings. However, these changes didn’t result in a reduction of applications. In fact, more people applied to volunteer as governors than the same period last year. We increased the number of people we appointed to boards across England, particularly outside of London. Our pivot towards working from home was easily made. Some team members were already working regionally and so we rolled out the same model to our office workers. We avoided the need to make any redundancies, nor put anyone on furlough. Our staff continue to focus on finding suitable skilled people to join school boards and to provide support to our volunteers. We’ve maintained the momentum necessary to achieve our goals. By continuing to adapt and work at pace, we’ve been able to effectively serve the schools and volunteers who give their time to improve education for the pupils in their care. It’s important that volunteers are prepared for the role and can contribute from their first meeting. Our resources are available for all volunteers to access before they join a board. These resources, covering a range of key governance topics, go hand in hand with our Introduction to School Governance eLearning and monthly webinars. The whole support package means that even first-time governors begin their governor journey well-equipped and ready to hit the ground running. In September, we launched our year-long ‘Wellbeing Governors’ campaign. Working with partners, we have created and shared resources to encourage boards to put whole school wellbeing at the heart of what they do. The campaign focused on pupil mental health and wellbeing in the autumn term as all children and young people returned to school. In the spring term, we focused on staff mental health and wellbeing as schools faced a second period of lockdown, juggling an increased number of children still attending in person, along with a more comprehensive remote offer. Throughout these times, we ensured governors had the right questions to ask, balancing the line between support and challenge. Throughout the summer term, we’ll focus on the importance of being active and the impact physical activity has on wellbeing. ## **Staffing responsibilities** Support & training of volunteers Exec team Partnerships development Recruitment & placement 7 A key milestone this year was launching our service in Wales. Working closely with Governors Cymru, Welsh Universities and Welsh Local Authorities, we are delighed to have already placed over 10 governors on school boards. We look forward to forming relationships over the course of the next year to build on our initial success. We have been delighted to welcome new corporate and university partners on board. These organisations recognise the need for skilled professionals on governing boards and the correlation between volunteering as a governor and professional development. Volunteers gain experience outside of their usual remit, bringing new skills back to the workplace. Our partner organisations give employees time off to attend board meetings, enabling them to give back to their communities. We thank all our corporate partners for the financial support they provide which enables us to continue our work. **----- Start of picture text -----**
69% of
volunteers
placed in
primary
schools
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8% of
volunteers
21% of
volunteers placed in
special schools
placed in
& PRUs
secondary
schools
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## **“** I have had a wonderful experience with Governors for Schools and it has resulted in my becoming a governor at a fantastic school that is an excellent fit for me. I really appreciate the efforts of the organisation to this end. They have been very professional throughout the search process, provided excellent support & advice and provided an exceptional level of service. **Shenila Rawal,** Governor, Gordon’s School, Woking, Surrey 8 ## **Key achievements for the year** ## **Income 2020-21** - 9% increase in volunteers applying - 4.5% increase in volunteers placed on boards **----- Start of picture text -----**
£86,586.00
£22,509.00
£138.00
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- Increase in funding from corporate supporters - 4652 accessed one or more of our eLearning modules - 7172 attendees at our training webinars **----- Start of picture text -----**
£935,925.00
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- 30 university partners - Wellbeing Governors campaign Unrestricted donations Restricted donations Chargeable services Interest and other income ## **Expanding into Wales** In September we decided to expand our reach into Wales. To ensure a quick roll out that meant we started to have an impact straight away, we: - Reached out to Local Authorities to determine need - Formed a partnership with Governors Cymru to gain local insight into governance issues and provide Welsh-specific support to new governors - Engaged with universities to reach their staff and alumni, and support existing staff networks - Appointed a local member of staff on a part time basis to respond to requirements - Spoke to our current partners to engage with their employees in the area ## **By April** - 6 LA partnerships - 2 university partners - 163 vacancies registered - 50 volunteer applications - 11 governors placed onto governing boards 9 ## **The year ahead** In 2021/22 we aim to: - Continue to increase the number of volunteers applying for the role and placed on boards across England and Wales - Increase the number of companies we work with to access even more volunteers and further diversify our funding - Work towards our Decade of Diversity pledges to ensure governing boards provide effective governance - Refresh our Skills Development Tracker to ensure that our governors can track their development easily and effectively - Continue our Wellbeing Governors campaign and commence our new campaign All Pupils, Every Ambition, which will focus on social mobility and how governors can ensure that all the pupils in their schools are reaching their potential - Hold our first governance conference, where we can share information and ideas with governors online across England and Wales - Carry out research with Nottingham Trent University into the impact our governors have - Diversify our funding so that we are a more sustainable organisation, by securing funding from our supporting partners and the Department for Education as well as Donations from Trusts and Foundations 10 ## **Supporters** Our supporters make our work possible. By working with businesses, public sector bodies, charities, professional bodies, and universities, we’re able to expand our reach and find more skilled people to become governors. Thank you to all the organisations we’ve worked with this year, including: 11 ## **Business partners** Many of our volunteers come from partner organisations – those who see the value their employees can provide to schools through sharing their expertise, experience and time and also recognise the skills and experience their employees gain through their governor role. The volunteers we recruit from these organisations, bring the skills that boards request most: - 61% of volunteers from partner organisations bring finance skills - 49% bring prior knowledge of the education system - 40% bring HR skills Throughout 2020-21, we developed a number of new partnerships and we look forward to working with these organisations over the coming year. These are Barclays, Deloitte, Wesleyan, Credit Suisse, Northern Powergrid, Mishcon de Reya, and Vitality, with more partners set to launch in the months ahead. ## **“** Governors for Schools have been great to work with so far - clear, personable, professional, proactive and responsive. They respond to my questions with useful answers and solutions. The resources they’ve shared have also been relevant and helpful for our growing network. ## **Alison Walker,** Partnerships Manager, Deloitte ## **University partners** We now work with over 30 university partners – nearly a third of all the universities in England and Wales - to encourage staff and alumni to become school governors. Through these partnerships, we have engaged with over 500 potential volunteers, securing hundreds more applications ready to support schools this year. ## **“** Working with Governors for Schools has been a very positive partnership. The team are excellent to work with and the resources they provide such as webinars and online training are a great form of support for our staff who are governors. They have always been keen to support us in delivering information sessions for staff and attending our governor staff network events. My experience with them has been very professional and I enjoy working with them greatly. ## **Ashley Callard,** Access and Engagement, Durham University This year we have focused on our collaborative approach. Our thanks go to The Key, What Works Wellbeing, Place2Be, Anna Freud Centre, NAHT, HELOA, EdSupport, Thank and Praise, Bounce Together, Welbee, Sport England and Active Partnerships, Schools Advisory Service, Teach Active. 12 ## **Training** Throughout 2020-21, we’ve focused on creating resources to make sure our volunteers are fully prepared for their role and can hit the ground running. - A dedicated point of contact to provide support throughout the application process, matching volunteers with a school in need All our volunteers receive access to: - Introductory information about the role, including key information about what they can expect, useful documents and an overview of the governor position - Access to our current eLearning modules, including the Introduction to School Governance - 12 months free access to The Key for School Governors, including the new Induction Module - An invitation to join our monthly webinars where they can learn more about timely governance topics and ask questions ## **“** “Having had other safeguarding training, I appreciated that this one kept relating back to the current context that we are in. Also information was concise and gave helpful pointers to what governors should be looking for and questions they may want to ask their schools.” ## **Juliette Ruiz,** Governor, Co-op Academy Woodslee, Liverpool ## **“** “The webinar clarified the role of a governor and the appropriate questions to ask and how to support the school and teachers we represent in the best possible way.” ## **Shari Lewison-Frisch,** Governor, Ridgeway Secondary School, Worcester 13 **Sustainable Development Goals - Our commitments and progress** ## **Responsible consumption and production** From mid-2019, we moved away from our London-centric hiring strategy and hired people in regional roles so that they were based in the areas they covered thus reducing travel across the country. We insist all employees travel by public transport where possible. In February 2020, we stopped sending physical welcome packs to our new volunteers each month and moved all the content online. This saved hundreds of sheets of paper and over 200 plastic pens each month. We’re committed to putting the environmental impact front of mind when making decisions, and choosing a route with the smallest environmental footprint. ## **Improving education** Central to all we do is our goal to improve education for children through effective governance. We recognise the importance of placing governors on boards who have the knowledge, skills, understanding, values and actions required to create a sustainable world, starting with education. Over the next 5 years, we’ll grow our partnerships to include organisations dedicated to improving the world we live in, and whose employees can contribute to the greener running of schools and focus on climate education. Our governors can help schools bridge the gap between the skills provided as part of education and the skills needed for the world of work. We’re committed to focusing on skills for life, and pledge to create more resources to support governors in this area of their role. ## **Reducing inequality** While we place more volunteers from BAME backgrounds on boards than the national average, we know we have more work to do in improving the diversity of boards across England and Wales and not just in cities. We’re committed to making remote governance work for more schools and volunteers. We want to ensure that schools in often rural locations benefit from skilled and diverse boards helping to raise the aspirations of pupils. We’re committed to recruiting volunteers from BAME backgrounds and have signed up to the Decade of Diversity pledge. We’ll achieve this with targeted outreach to ensure the governor opportunity is an opportunity for everyone, breaking down barriers to access. **----- Start of picture text -----**
29% of our
applicants
are from a BAME
background
9% of our
volunteers
were placed in
rural locations
15% of our
volunteers
were placed
at a “Requires
Improvement”
school
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14 ## **Good governance** The trustees meet quarterly to monitor progress and to make decisions concerning the strategic direction of the charity. The Chief Executive attends all board meetings. The board approves the annual Business Plan and detailed budget. The staff of Governors for Schools are authorised to work within the framework of the Business Plan and budget under the direction of the Chief Executive. The trustees receive reports from the Chief Executive, comprising financial, statistical and other information to enable them to measure the company’s performance against budget, targets and objectives for the year. New trustees are recruited to the board as required in order to ensure that the board membership has the proper range of skills and competencies. A skills audit is undertaken regularly to identify gaps in expertise. Once recruited, trustees have a full induction with the Chair and CEO, the also have conversations with other trustees. Gaps in knowledge or skills are identified and training is provided where necessary. None of the trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity must be disclosed to the full board of trustees. In the current year no such related party transactions were reported, other than as disclosed in the notes to the accounts. ## **Reserve Policy** The trustees’ current policy is to hold sufficient reserves to provide working capital to meet contracted commitments, 3 months operating costs, and an organised winding down of the company should this ever be required. These reserves are reflected in the designated reserve fund shown in the accounts. Donations from supporting organisations are sought early in the financial year to provide working capital for the year ahead. Reserves at the end of the year consisted of Restricted Funds £2,500, Designated Fixed Asset Fund (to be matched against future depreciation charges) £10,446; Designated Reserve Fund £215,000; and Unrestricted Funds of £441,641. ## **Risk Management** The Company has a comprehensive ongoing and up-to-date risk register. The board takes direct responsibility for management of risk in two business critical areas; these areas are cessation or reduction of funding and the performance of the Chief Executive. The other risks are designated as operational and the Chief Executive is responsible for monitoring changes and alerting the board. 15 Trustses, Responsa>llities select suitable accounting policies and apply them consistently observe the methods and principles in the Charities SORP The trustees (who are also direcfors of Governors for Schools for the purposes of company low) are responsible for preparing the Trustees, Annual Report and the financiol statements in oGGordance with applicable law ond United Kingdom Accounting Standords (United Kingdom Generally Accepted Accounting Procticel. moke judgments and estimates that are reasonable and prudent state whether applicable UK accounting standards havo been followed, subject to any departures disclosed and explained in the financial statements Company law requires the trustees to prepare financial statements for eoch financiol yeor. Under company law the trustees must not approve the financial stotements unless they ore satisfied thot they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees are reauired to.. prepare the occounrs on o going concern basis unless it is inappropriate to presume that the chority will continue in business The rrustees are responsible for mainfaining proper accounting records which disclose with re(Jsonable accuracy at any time the financiol position of the charitable company ond to enable them to ensure that the occounts comply with the Companies Act 2006. They are also respcnsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud ond other irregularities. Small Company Provision This report has been prepared in accordance V￿th the provisior¥s applicable entitled to the small companies exemption. The Report of the T￿￿Oes, was signed on behalf of the board of directors on 25th September 2021 by: companies Linda Wilding Effective Governors, Excellent Schools. GOVERNORS 70R SCHOOLS 16 ## **GOVERNORS FOR SCHOOLS** ## **Independent Auditor's Report to the Members of Governors for Schools** ## **Year ended 31 March 2021** ## **Opinion** We have audited the financial statements of Governors for Schools (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities, income and expenditure account, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 17 ## **GOVERNORS FOR SCHOOLS** ## **Independent Auditor's Report to the Members of Governors for Schools** ## **[Year ended 31 March 2021]** ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: - the information given in the trustees' report is inconsistent in any material respect with the financial statements; or - adequate accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 18 ## **GOVERNORS FOR SCHOOLS** ## **Independent Auditor's Report to the Members of Governors for Schools** ## **[Year ended 31 March 2021]** ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: • the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector; • we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity; • we assessed the extent of compliance with the laws and regulations through making enquiries of management and inspecting legal correspondence; and • identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: • making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and • considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: • performed analytical procedures to identify any unusual or unexpected relationships; • tested journal entries to identify unusual transactions; • assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and • investigated the rationale behind significant or unusual transactions. 19 ## **GOVERNORS FOR SCHOOLS** ## **Independent Auditor's Report to the Members of Governors for Schools** ## **[Year ended 31 March 2021]** In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. · Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 20 GOVERNORS FOR SCHOOLS Independent Auditor's Report to the Members of Governors for Schools Year ended 31 March 2021 We communicate with those charpd wth govemanee regarding. among other matters. the planned scope and timing of the audit and synilicant audit findings, including any significant deficiencies in internal control that we idenlrfy during our audrt. Us• of our roport This report is made solely to the charity's members. as a body. in accordanGe with section 144 of IhÈ Charities Act 2011 and regulations maje under section 154 of that Act. Our audit work has been undertaken so that we might slate lo the charity's members Ih05e matters we are reqLÈired to slate lo them in an auditor's report ar￿ for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility lo anyone other than Ihe charity and Ihe charity's members as a body. for our audit work, for this report. or for the opinions we have fomed. AGP Chartered A¢counlan15 & slalulory auditor Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH .2021 AGP Chartered kGounlants are eligible to act as an auditor in ierms of sectson 1212 of the Companies Act 2006 21 ## **GOVERNORS FOR SCHOOLS** ## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31[st] March 2021** |**or the year ended 31st March 2021**||||| |---|---|---|---|---| |**Note**
**Income**
**Income from Charitable**
**Activities:**
Donations
**5**
Investment Income
**6**
Chargeable Services
Other
**Total Income**
**Expenditure**
**Expenditure on Charitable**
**Activities:**
Raising funds
Recruiting & Placement of
School Governors
**7**
Chargeable Services
**7**
**Total Expenditure**
**Net Income / (Expenditure)**
**for the Year Before**
**Transfers**
Transfers between Funds:
**Net Income / (Expenditure)**
**for the Year**
**Other Recognised Gains**
**and Losses**
**Net Movement in Funds**
**Reconciliation of Funds**
Balances brought forward at
1 April 2020
**Balances carried forward**
**at 31 March 2021**|**Un-**
**Restricted**
**Funds**
**£**
935,925
63
86,586
75|**Restricted**
**Funds**
**£**
22,509|**Total**
**Funds**
**2020/2021**
**£**
958,434
63
86,586
75|**Total**
**Funds**
**2019/2020**
**£**
449,986
113
30,333| ||**1,022,649**|**22,509**|**1,045,158**|**480,432 **| ||846,904
73,693|20,009|866,913
73,693|2,513
893,471
26,793| ||**920,597**
102,052
**102,052**
**102,052**
565,035
**667,087**|**20,009**
2,500
**2,500**
**2,500**
**2,500**|**940,606**
104,552
**104,552**
**104,552**
565,035
**669,587**|**922,777**| |||||(442,345)| |||||**(442,345)**| |||||| |||||**(442,345)**| |||||1,007,380| |||||**565,035**| The statement of financial activities includes all gains and losses and losses recognised in the year. All income and expenditure derives from continuing activities. 22 ## **GOVERNORS FOR SCHOOLS** ## **INCOME & EXPENDITURE For the year ended 31[st] March 2021** |**Note**
**Income**
Other Restricted
**5**
Donations Unrestricted
**5**
Other Unrestricted
**Total Income**
**Expenditure**
Salaries
**8**
Other Operational Charges
Depreciation
**9**
**Total**
**Expenditure**
**Surplus of**
**Income/Expenditure**
**Net Transfer to/from Funds**
Restricted fund
Designated Fixed Asset Fund
Designated Reserve Fund
Unrestricted Fund|**TOTAL**
**2020/2021**
**£**
22,509
935,925
86,724
**1,045,158**
712,912
218,215
9,479
**940,606**
**104,552**
2,500
1,756
0
100,296
**104,552**|**TOTAL**
**2019/2020**
**£**
12,430
437,556
30,446| |---|---|---| |||**480,432**
639,040
274,701
9,036| |||**922,777**| |||**(442,345)**| |||(18,927)
(4,804)
0
(418,614)| |||**(442,345)**| 23 GOVERNORS FOR SCHOOLS STATEMENT OF FINANCIAL POSITION A5 at 3151 Mareb 2021 ote 202012021 201912020 Fixed Assets Tangible fixed as5els 10.446 8,690 CurreTht A55ets Debiors & Prcpa)'tnents Cash ai bank and in hand io 84.888 646.183 731.071 76.(K16 562,377 638.383 Liabilities Creditors falling due within one year li 71.930 82.038 Net CMrreDt Assets 659,141 556J45 Total Assets le55 Current Liabilities 669.587 565,035 Net Assets 669,587 565,035 FuDds Restricted Fund Designated Fixed As'5ei Fund Desibwnated Resen'e Fund Unrestricted Fund 12 2.500 10,446 215.000 441,641 669,587 8.690 215,1]00 i41.345 -$6•,035 The dire¢tors are satisfied that ihe companv is entitled io exempiion from the provisions of the Companies Aci 2006 (the A¢i) relating to ihe audil uf ihe financial siatemenls for ihe }'"ear b), virtue of seeiion 477, and that no member or metnbers have ￿queS1¢d an audit piirsuant to sectkun 476 of the Act. However. the charity is rcquired to be audited under Charilie5 Act ?01 l. I'he directors acknowledge th¢ir re5ponsibiliry for cotnplytng u.ith the rcquirements ofihe Act with respect to accounting records and for ihe preparaiion of accounts. ThL%e financial statements have been prepared in accordance wilh the provisions applicablc io companies subject lo the small companies, regTime. -rhese finan¢i beha I ststements were approved bl. lh¢ directors on IS. 4. and are signed on their DA WILDING CHAIR Dale 24 ## **GOVERNORS FOR SCHOOLS** ## **STATEMENT OF CASH FLOWS As at 31[st] March 2021** |**STATEMENT OF CASH FLOWS**
**As at 31st March 2021**||| |---|---|---| ||**2020/2021**|**2019/2020**| ||**£**|**£**| |**Cash flows from operating activities**||| |Net income|104,552|(442,345)| |_Adjustments for:_||| |Depreciation of tangible fixed assets|9,479|9,036| |Other interest receivable and similar income|(63)|(113)| |Gains on disposal of tangible fixed assets|-|–| |Accrued (income)/expenses|19,720|39,108| |_Changes in:_||| |Trade and other debtors|(8,882)|441,155| |Trade and other creditors|(29,828)|33,944| ||------------|------------| |Cash generated from operations|94,978|80,785| |Interest received|63|113| ||--------------|--------------| |Net cash (used in)/from operating activities|95,041|80,898| ||==========|==========| |**Cash flows from investing activities**||| |Purchase of tangible assets|(11,235)|(4,232)| |Proceeds from sale of tangible assets|-|–| ||---------------|---------------| |Net cash used in investing activities|(11,235)|(4,232)| ||===== ===|========| |**Net (decrease)/increase in cash and cash equivalents**|83,806|76,666| |**Cash and cash equivalents at beginning of year**|562,377|485,711| ||--------------|--------------| |**Cash and cash equivalents at end of year**|646,183|562,377| ||=========|=========| 25 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS** ## **1 General information** The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is St Magnus House, 3 Lower Thames Street, London, EC3R 6HD. ## **2 Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3 Accounting Policies** ## **3.1 Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **3.2 Going concern** There are no material uncertainties about the charity's ability to continue. ## **3.3 Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **3.4 Fund Accounting** - Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. - Designated funds are unrestricted funds earmarked for particular purposes. - Restricted funds are subjected to restrictions on their expenditure imposed by the donor. 26 ## **NOTES TO THE ACCOUNTS (Continued)** ## **3.5 Recognition of Income** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Incoming resources received for specific purposes are included in the statement of financial activities. The balance of income received for specific purposes but not matched to relevant expenditure during the period is shown in the Restricted Income Fund and Balance Sheet. - Income from charitable activities and donations is received by way of grants, sponsorship and donations and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. - Intangible income represents services and facilities donated by third parties and is included at the value to Governors for Schools where this can be quantified by the Board and where provided at a cost to the third party. ## **3.6 Expenditure** All payments are recognised in the accounts in the year to which they relate. Expenditure is recognised on an accruals basis as a liability is incurred. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. - Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. - All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. - Costs relating to a particular activity are allocated directly; others are apportioned on an - appropriate basis. ## **3.7 Chargeable Services** Where chargeable services relate to a specific period, income is recognised on a monthly basis with the balance treated as deferred income. Chargeable services income is shown net of VAT. Costs are allocated monthly against annual fees to cover delivery resource, with cost apportionment relating to direct salary costs incurred and a share of office overheads based on staff time. ## **3.8 Fixed Assets and Depreciation** Purchases are capitalised where the expected useful life of the items exceed one year and where the cost of acquisition exceeds £500 including VAT. Assets are depreciated over their expected useful life by the straight line method. The classes and standard asset lives are reviewed annually. The depreciation rates applied to the main categories of assets are as follows: **Class of Asset** ## **Standard Useful Life** Computer Equipment & Furniture 3 years 27 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** ## **3.9 Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due **.** ## **3.10 Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **3.11 Taxation** The company is a registered charity and as such is exempt from Income and Corporation taxes under the provision of the Income and Corporation Taxes Act 1988. The cost of Value Added Tax incurred by the company has been included in the Income and Expenditure Account. ## **3.12 Financial Instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the carrying value at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method. ## **3.13 Pensions** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. ## **3.14 Operating lease agreements** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. ## **4 Limited by guarantee** The company is limited by guarantee and does not have a share capital. The liability of the members is limited in the event of the company being wound up to such amount as may be required not exceeding one pound. 28 ## **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** |**5**
**Donations**
The Worshipful Company of Grocers
Academies Enterprise Trust
Evelina Hospital School
Yorkshire Building Society
Irwin Mitchell LLP
80:20 Charitable Trust
Allen &Overy
Tenzing
Amazon Smile
Frances Jacob
The Key Support Services
The University of Manchester
JustGiving
**6**
**Investment Income**
Bank Interest|**2020/2021**
**£**
838,150
4,359
35,000
34
48,000
32,727
144
20
**958,434**
**2020/2021**
**£**
63
**63**|**2019/2020**
**£**
4,750
2,500
300
250
1,480
356,180
1,500
35,000
26
48,000
**449,986**
**2019/2020**
**£**
113
**113**| |---|---|---| 29 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** ## **7** |**Charitable Activities**
Marketing
Business Development
Website & Database
e-Learning & Impact
Salaries & Expenses
Administration
Occupancy Costs
Depreciation
Office Equipment
Legal & Professional
Auditors’ Remuneration – Other Services
**Governance Costs**
Auditors’ Remuneration - Audit Fee
**Chargeable Services Costs**
Salaries & Expenses
Occupancy|**2020/2021**
**£**
25,245
8,383
12,509
15,577
662,943
19,989
101,178
9,479
1,195
4,054
1,381
**861,933**
4,980
**4,980**
62,618
11,075
**73,693**|**2019/2020**
**£**
37,010
9,691
13,687
7,262
636,527
47,974
121,628
9,036
2,510
3,286
0| |---|---|---| |||**888,611**| |||4,860| |||**4,860**| |||22,663
4,130| |||**26,793**| ## **8 Remuneration** ## **The Board Chairman & Directors** The Chairman & Directors did not receive any remuneration for their services. No expenses were paid during the year. ## **8.1 Employees** ## **8.2 Analysis of Employees** |**Category of Employment**
Chief Executive
Administration
Delivery & Impact|**Average Number**
**Of Employees**
**2020/2021**
1
2
19
**22**|**Average Number**
**Of Employees**
**2019/2020**
1
2
18| |---|---|---| |||**21**| 30 30 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** ## **8.3 Analysis of Staff Costs** Total staff costs for the year were |**Salaries**
Salaries
Employer’s Pension
Employer’s NIC|**Total**
**2020/2021**
**£**
631,284
22,625
59,003
**712,912**|**Total**
**2019/2020**
**£**
568,951
18,239
51,850| |---|---|---| |||**639,040**| The amount recognised in the Statement of Financial Activities as an expense in relation to defined contribution pension plans was £22,625 The number of employees whose emoluments (salaries, wages and benefits in kind) fell within the following band: |||**2020/2021**|**2019/2020**| |---|---|---|---| |||**£’000**|**£’000**| |**£70,000**|**- £79,999**|**0**|**1**| |**£80,000**|**- £89,999**|**1**|**0**| During the year pension contributions of £6,416 were paid for this member of staff. ## **9 Fixed Assets** ## **Analysis of Fixed Assets** |**Cost**
as at 1 April 2020
Purchased in year
Disposal of equipment
Cost as at 31stMarch 2021
**Depreciation**
as at 1 April 2020
Charge for the year
Depreciation on Disposal
as at 31st March 2021
**Net Book Value**
as at 1 April 2020
as at 31st March 2021|**Computers**
**& Furniture**
**£**
62,166
11,235
0
**73,401 **
53,476
9,479
0
**62,955**
8,690
**10,446**|**Total**
**2020/2021**
**£**
62,166
11,235
0
**73,401 **
53,476
9,479
0
**62,955**
8,690
**10,446**|**Total**
**2019/2020**
**£**
57,934
4,232
0| |---|---|---|---| ||||**62,166**| ||||44,440
9,036
0| ||||**53,476**| ||||13,494| ||||**8,690**| 31 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** |**10**
**Assets**
**Debtors & Prepayments**
Rent Bond
Sundry Debtors
Prepayments
**11**
**Liabilities**
**Creditors falling due within one year**
Creditors
Accruals and Deferred Income
VAT|**Total**
**2020/2021**
**£**
15,000
40,116
29,772
**84,888**
**Total**
**2020/2021**
**£**
603
64,427
6,900
**71,930**|**Total**
**2019/2020**
**£**
30,375
15,029
30,602| |---|---|---| |||**76,006**| |||**Total**
**2019/2020**
**£**
37,331
44,707| |||**82,038**| Where chargeable services relate to a specific period, income is recognised on a monthly basis with the balance treated as deferred income. |Deferred income brought forward
Released from the prior year
Deferred in the current year
Deferred income carried forward|**Total**
**2020/2021**
**£**
38,417
(38,417)
57,583
**57,583**|**Total**
**2019/2020**
**£**
38,417| |---|---|---| |||**38,417**| ## **12 Restricted Funds** |Allen & Overy
80:20 Charitable Trust|**Balance**
**1/4/2020**
**£**
0
0
**0**|**Incoming**
**£**
4,359
18,150
**22,509**|**Expenditure,**
**Gains, Losses**
**& Transfer**
**£**
1,859
18,150
**20,009**|**Total**
**2020/2021**
**£**
2,500
0| |---|---|---|---|---| |||||**2,500**| ## **Restriction** ## **Allen & Overy** Allen & Overy donation to be spent on activity related to exclusions support. ## **80:20 Charitable Trust** Restricted donation to be spent on key developments such as technology infrastructure. 32 **GOVERNORS FOR SCHOOLS** ## **NOTES TO THE ACCOUNTS (Continued)** ## **13 Analysis of Net Assets Between Funds** |Tangible Fixed Assets
Current Assets
Liabilities
Tangible Fixed Assets
Current Assets
Liabilities|**Unrestricted**
**Funds**
**£**
10,446
728,571
(71,930)
**667,087**
**Unrestricted**
**Funds**
**£**
8,690
638,383
(82,038)
**565,035**|**Restricted**
**£**
2,500
**2,500**
**Restricted**
**£**
**0**|**Total**
**2020/2021**
**£**
10,446
731,071
(71,930)| |---|---|---|---| ||||**669,587**| ||||**Total**
**2019/2020**
**£**
8,690
638,383
(82,038)| ||||**565,035**| ## **14 Operating Leases** The total future minimum lease payments under non-cancellable operating leases are as follows: |Not later than 1 year

Later than 1 year and not later than 5 years|**Total**
**2020/2021**
**£**
108,000
27,000
**135,000**|**Total**
**2019/2020**
**£**
31,365
0| |---|---|---| |||**31,365**| The leases payments recognised as an expense during the year amounted to £108,000. ## **15 Related Party Transactions** During the year the charity received donations of £838,150 from the 80:20 Charitable Trust which is exclusively funded by the Armitage family. Mr Ian Armitage is a Trustee of Governors for Schools. At the year end, there was an amount of £23,083 due to be received from the 80:20 Charitable Trust. Ian Armitage is also a Director of The Key Support Services Limited who made an unrestricted donation of £32,727. During the year, the charity received an amount of £35,000 from Tenzing. This is for work undertaken by Ian Armitage but his fees donated to the charity. The charity received a restricted donation of £4,359 during the year from Allen & Overy, a company in which Trustee Jane Higgins is a Partner. The charity also received payment of £3,000 for services. The charity received payment of £10,000 for services from Lloyds Banking Group, a company in which Trustee David Rowsell is an employee. No further transactions with related parties were undertaken such as are required to be disclosed 33