## The Trustees of St Alban’s School (A Charitable Company Limited by Guarantee)
Report and Financial Statements for the period 1[st] September 2019 to 31[st] August 2020
Registered Company Number 7287734 Registered Charity Number 1139434
Trustees of St Alban’s School
Charity 1139434
Company 7287734
|Company 7287734|Company 7287734|Trustees of St Alban’s School
Charity 1139434|Trustees of St Alban’s School
Charity 1139434|
|---|---|---|---|
|Directors and Trustees||Valerie Leona Bramble (resigned 30thNovember 2020)||
|(also known as Members)||
Peter William Bould||
|serving during the period||Amanda Mary Cadman||
|covered by|this report|Dennis Edward Clark||
|and until its adoption:||Joanne Lesley Dawson||
|||Mary Dorothy Goodman (died 1stFebruary 2021)||
|||Prof Peter Timothy Marsh – Chairman||
|||Philippa Helen Roberts (from 19thSeptember 2020)||
|||Dr Christopher Andrew Smith – Treasurer||
|||Dianne Wainwright||
|||Elizabeth Anne Wycherley – Secretary||
|Registered Office:||55 Wychall Lane||
|||Kings Norton||
|||Birmingham||
|||B38 8TB||
|Company Registration:||07287734||
|Charity Registration:||1139434||
|Legal Entity|Identifier:|213800I4BLBQX81RSP47||
|Independent Examiner:||W T Cooper ACIB||
|||70 Overbury Close||
|||Northfield||
|||Birmingham||
|||B31 2HD||
|Bankers:||Lloyds Bank plc||
|||Colmore Row Branch||
|||PO box 1000||
|||BX1 1LT||
|Solicitors:||Veale Wasbrough Vizards LLP||
|||Second Floor, 3 Brindley Place,||
|||Birmingham||
|||B1 2JB||
|Investment|Managers:|EFG Harris Allday||
|||33 Great Charles Street||
|||Birmingham||
|||B3 3JN||
|Index|Report of the Directors and Trustees||page 3|
||Financial Report of the Charitable Company|||
|||Statement of Financial Activities|page 9|
|||Balance Sheet|page 10|
|||Notes to the Financial Statements|page 11|
|||Independent Examiner’s Statement|page 17|
Page 2 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## Report of the Directors and Trustees for the period 1[st] September 2019 to 31[st] August 2020
## Aims and Objectives
The Charity’s Objects are “To promote for the public benefit the religious, educational and other charitable work of the Church of England in the ecclesiastical parish of St Alban the Martyr and St Patrick, Highgate as the directors shall determine from time to time.”
## Structure, Governance and Management
## Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 17[th] June 2010 and registered as a charity on 22[nd] December 2010. The company was established under a Memorandum of Association establishing the objects and powers of the Charitable Company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
By a Deed of Transfer dated 7[th] April 2011 the trustees of the unincorporated charity of the same name transferred to the company all the transferrable assets of the unincorporated charity, and by a Scheme dated 8[th] April 2011 the Charity Commission made the company trustee of the residual unincorporated charity (number 1139434-1) and its endowments.
On 13[th] May 2014 the Trustees of the St Patrick’s Fund, formerly charity 517109, commonly known as the Trustees of St Patrick’s School, which had objects closely related to those of the Trustees of St Alban’s School: “to further the religious and other charitable work of the Church of England in the ecclesiastical parish of St Alban the Martyr and St Patrick, Bordesley [now Highgate] in the Diocese of Birmingham” resolved, with the agreement of the Charity Commission, to transfer the expendable assets of the St Patrick’s Fund to the charitable company and the charitable company was made a corporate trustee of the St Patrick’s Fund, and the individual Trustees of the St Patrick’s Fund resigned, making the charitable company sole trustee of the residual charity holding the endowment of the St Patrick’s Fund, now charity 1139434-2. The income from this endowment forms a restricted St Patrick’s Fund.
## Appointment and Retirement of Directors
The Directors of the Charitable Company are also charity Trustees for the purposes of charity law and under the company’s articles are known as Members of the charity. All members have equal voting rights. (All directors must be members and there can be no members who are not directors of the charity.) Under the articles of association, at the first meeting held in each calendar year, two directors must retire with effect from the end of the meeting, although they are eligible for re-appointment by the other directors.
At the annual meeting on 17[th] September 2019 Peter Marsh and Dennis Clark retired as Trustees and Directors and were reappointed by the meeting. The Trustees resolved to ask three additional people to become Trustees, of whom one, Philippa Roberts agreed and the formalities of her appointment were completed on 19[th] September 2020.
All the directors gave their time voluntarily and received no private benefit from the charity.
## Responsibilities of the Directors
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company as at the
Report and Financial Statements for 31 August 2020
Page 3 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements the Directors should follow best practice and:
Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent; and
Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
The Directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Directors of the Company
The Directors and Trustees who served during the period of and until the approval of these financial statements are set out on page 2.
## Meetings of the Directors
The policies and activities of the Charity are established and controlled by the Board of Directors/Trustees. The Board holds an annual meeting in late September or early October for consideration of the annual accounts of the Charity and the award of grants from the income received during the year and any retained income from previous years. The board holds other meetings during the year, as necessary. In the period under review the annual meeting was held on the 17[th] of September 2019. No further meetings were held until the next annual meeting on the 14[th] of October 2020.
## Accounting period
The period of the financial statements runs from 1[st] September 2019 to 31[st] August 2020.
## Financial Review
## Principal Funding Sources
The Charitable Company does not solicit donations from the public. The source of the General Fund, which may be used for any of the charity’s objects, is the investment income from a Permanent Endowment. The endowment derived from the sale in the 1970s of the premises of a former church school in the parish, originally founded in 1871.
Under a Charity Commission Scheme of 8[th ] April 2011 the Freehold of the land on which the buildings inherited by Ark St Alban’s Academy from the former St Alban’s CE Engineering College stood, designated WM877706 at the Land Registry, was transferred to the Charitable Company. It has not been capitalised because it is leased at a peppercorn rent to Ark Academies for use by Ark St Alban’s Academy. Following the construction of new Academy buildings (adjacent to, but not on the Charitable Company’s land) the old school buildings have been demolished and the site has been landscaped for use by the Academy; part, opposite St Alban’s Church, is accessible as a public amenity.
The Charitable Company also has three Restricted Funds. Two, the Former School Governors’ Fund and the Miss Rattey Bequest Fund, derived from the funds previously held by the
Page 4 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
governors of the former St Alban’s CE Engineering College, the successor to the original church school, which closed in 2009 to reopen as Ark St Alban’s Academy. These restricted funds may be used only for the benefit of the Academy. The income of these funds too is derived from investment, about one third from a Permanent Endowment, the Spencer Bequest (held by Diocesan Trustees), the remainder from the long-term investment of expendable reserves built up by the former governors. The third restricted fund, the St Patrick’s Fund was transferred to the charitable company in May 2014 as described above. Like the General Fund it derives its income from a Permanent Endowment, derived from the sale in 1983 of the premises of a former church school in the parish, St Patrick’s School. Although it is a Restricted Fund, its objectives cover the same purposes as the General Fund.
## Reserves Policy
It is the policy of the Charity to allocate most of the General Fund income from the previous year in grants at an annual meeting in September or October, retaining a small reserve for anticipated expenses. As the income is spread through the year, funds are available to cover unanticipated expenses before the next annual meeting for distribution of grants.
Two thirds of the Restricted Fund reserves received from the former school governors are invested to provide a continuing income to use for the benefit of the Academy. The remaining third was used to enable the Academy to install an all-weather pitch on the Charity’s land and provide an outdoor exercise area outside the Academy.
## Investment Policy
The St Alban’s Trustees’ Endowment is invested in a broad portfolio of stocks and shares managed on a discretionary basis by EFG Harris Allday. It is the view of the Trustees that these investments should be managed so as to maintain their capital value over the medium-long term, accepting the likelihood of short-medium term falls in value during periods of economic recession, while maximising the income generated for distribution in accordance with the Charity’s objectives. The Trustees note that it is any fall in income generated rather than any fall in capital value that will affect the beneficiaries of the Charity.
The St Patrick’s Fund Endowment is invested in the CBF Fixed Interest Securities, Investment, UK Equity and Property Funds, managed by CCLA Investment Management Ltd., and the small expendable reserve of the Miss Rattey Bequest Fund in the CBF Fixed Interest Fund
The part of the Former School Governors’ Restricted Fund considered to be a long-term reserve is invested in the CBF Church of England Fixed Interest Securities and Investment Funds managed by CCLA Investment Management Ltd. There is also a small component within the portfolio managed by EFG Harris Allday.
## Public Benefit
The Trustees take into consideration the Charity Commission’s general guidance on public benefit when reviewing the Charity’s Aims and Objectives and setting its grant-making policy.
The Aims and Objectives fall within the charitable purposes in the Charities Act 2011, and the geographical restriction is appropriate to the limited resources available and their origin in donations raised in the nineteenth century to found a church school to serve the parish.
The Charity operates in a parish that is an area of high social deprivation. Grants made relate to the social as well as educational and religious work of the Church of England.
Report and Financial Statements for 31 August 2020
Page 5 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
In the year from 1[st] September 2019 to 31[st] August 2020, the objectives of the Charity were addressed from its unrestricted fund through grants totalling £13,800 as follows:
- £2,500 to the Parochial Church Council of St Alban and St Patrick, Highgate, Birmingham to help maintain regular public worship open to all in the grade II* listed church of St Alban the Martyr and £1,500 to support The United Highgate Food Bank, based at the church.
- £5,000 to Birmingham Diocesan Board of Finance to support the provision of a Church of England Chaplain in Ark St Alban’s Academy. The Academy has a Church of England ethos but is non-selective and open to children of all abilities and faiths (in fact most of the students are Muslim) and is regarded as the successor to the original St Alban’s School.
- £4,050 to Highgate Community Support Ltd., the support organisation for Stanhope Wellbeing Hub (previously Stanhope Hall Community Centre) in the parish, to support its Care & Friendship Project, Children/Youth Programme, and Community Lunches & Events.
- £750 to Ark St Alban’s Academy to support pupil participation in Inspiring Excellence music events.
A portion of the charity’s land adjacent to Stanhope Street, leased to Ark Academies, has been landscaped and is accessible as a public amenity.
The Charity’s restricted Former Governors’ Fund and Miss Rattey Bequest Fund are to be used in support of Ark St Alban’s Academy, a non-selective school open to children of all abilities and faiths. Grants made from these funds during the year totalled £14,886: £2,000 to subsidise poor students’ participation in the Duke of Edinburgh’s Award Scheme, £175 to be added to £700 unspent from the previous year to provide introductory reading material for Year 7 students joining the academy, £5,820 to allow participation in the Brilliant Club; £4,500 to allow participation in the Girls’ Network, and £2,391 to provide specialist walkietalkies for emergency communication within the Academy building. (This total included undistributed income from 2017/18 as well as income for 2018/19.)
The restricted St Patrick’s Fund, like the unrestricted fund, is used to further the religious and other charitable work of the Church of England in the ecclesiastical parish of St Alban the Martyr and St Patrick. Grants made in the year under review totalled £4,200 as follows: £2,500 further support to the Parochial Church Council to maintain regular public worship open to all; £1,000 to Stanhope Women’s Group Ark St Alban’s Academy to subsidise coach trips for poor local residents; and £700 to The “Dizzy Dancers”, a not-for-profit dance school offering children in the parish subsidised classes in Ballet, Tap, Gym, and Freestyle Dance.
## Effect of Covid-19 on the Use of Grants by the Recipients
Parochial Church Council. To combat the spread of the Covid-10 pandemic, the church was closed for public worship from 19[th] March to 26[th] July 2020. During this period the vicar continued to provided weekly public worship through recorded services posted on YouTube, accessible via links on the exterior noticeboard at the church, as well as live Zoom services accessible only to known members of the congregation due to safeguarding considerations.
Ark St Alban’s Academy. The grants for participation in The Girl’s Network and for Walkie Talkies were spent in full. However, only £2,788 of the grant for participation in the Brilliant Club and £650 of the grant for participation in Inspiring Excellence were spent before closure of the Academy to most pupils during lockdown. The grants to support participation in the
Page 6 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
Duke of Edinburgh’s Award scheme and for books to give to new year 7 pupils in home visits could not be spent. It is expected that they will be used when these activities can resume.
Highgate Community Support Ltd./Stanhope Hall. “Play station” equipment was been installed in Stanhope Hall, using a wide-screen television, to enable children’s groups to take part in competitive computer games. Most activities have been suspended due to Covid-19; however, distribution of weekly “Let’s Feed Brum” food parcels has continued and during lockdown demand for these increased from 50 to 91 parcels per week. Community lunches and other activities will re-commence as soon as local restrictions permit.
The Dizzy Dancers. Normal classes were suspended in March. Zoom classes (free of charge) were offered, which some of the dancers opted into. At the time of writing risk assessments had been prepared for socially distanced classes (with a reduced capacity for students) once the venue is again available.
Stanhope Women’s Group. The Covid-19 lockdown prevented coach trips from taking place and the grant is in hand for use when such outings are again possible.
## Risk Management
The Directors believe that they are mitigating the major risks to which the Charity is exposed:
- By monitoring reserve levels;
- By allowing appropriate professional discretionary management of the investment portfolio that represents the endowment;
- By investing the major part of the restricted funds not required for immediate application in the investment funds of the Central Board of Finance of the Church of England, managed by CCLA Investment Management Ltd;
- By taking appropriate legal advice;
- By incorporation as a charitable company;
- By requiring new trustees to confirm that they are not debarred;
- By requiring the signature of two trustees for all expenditure.
The Directors will review their risk assessment annually.
## Safeguarding Children, Young People and Vulnerable Adults
The Directors are mindful of the obligation to safeguard children, young people and vulnerable adults, but do not deal directly with members of the public in their role as Directors.
## Related Parties
Some Directors are also Trustees of the Aspinall Trust, Charity number 1061909, which has objects overlapping those of the Trustees of St Alban’s School: “the general purposes of the parish church of St Alban and St Patrick Highgate Birmingham”.
Some Directors are also members of the Parochial Church Council of the ecclesiastical parish of St Alban and St Patrick, Highgate (known as St Alban’s PCC), Charity number 1169941. The PCC is responsible for promoting the mission of the Church of England in the ecclesiastical parish and for the proper maintenance of the parish church of St Alban the Martyr (a grade II* listed building). The PCC regularly receives grants from the Trustees of St Alban’s School.
Report and Financial Statements for 31 August 2020
Page 7 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
Some Directors are or have been Governors of Ark St Alban’s Academy, which receives grants from the Trustees of St Alban’s School and indirect support through part funding of the chaplain through grants to the Diocese of Birmingham.
Some Directors are also Trustees of Highgate Community Support Ltd, Charity number 1185938, (formerly Stanhope Hall Community Support) which supports the community of Highgate through programmes at Stanhope Hall Wellbeing Hub in the parish.
## Audit Exemption under the Companies Act 2006
Because the Charitable Company had annual turnover of no more than £10.2 million net (income £28,199, expenditure £32,999), a balance sheet total of no more than £5.1 million (£842,470) and an average of 50 or fewer employees (none), it qualified for total audit exemption for the accounting period 1[st] September 2019 to 31[st] August 2020, no members having called for an audit.
## Audit Exemption but Requirement for Independent Examination under Charity Regulations
Because the gross assets and gross income of the Charity were less than £3.26 million and £250,000 respectively, the financial statements of the Charity did not require full audit, but because the gross income exceeded £25,000 independent examinations was required.
## Taxation
The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Approved by the Directors and signed on their behalf by:
Peter T Marsh (Chairman) 10[th] May 2021
Page 8 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## **Statement of Financial Activities for the period from 1[st] September 2019 to 31[st] August 2020**
||**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**_Income and Endowments from:_**
Investments
Managed Investment Portfolio
11,724
103
—
11,827
_13,042_
CBF Investments
—
16,360
—
16,360
_16,561_
Deposit & Bank Interest
5
7
—
12
_23_
**Total income and endowments**
**11,729**
**16,470**
**—**
**28,199**
**_29,626_**
**_Expenditure on:_**
Expenditure on Charitable Activities
Grants to Diocese for Academy Chaplaincy
5,000
—
—
5,000
5,000
Grants to St Alban's Academy (Sports Facilities)
—
—
—
—
—
Grants to St Alban's Academy (Other)
750
14,886
—
15,636
_5,711_
Grants to St Alban's PCC (Maint. Pub. Worship) 2,500
2,500
—
5,000
_4,000_
Grants to support United Highgate Food Bank
1,500
—
—
1,500
_1,500_
Grants for Stanhope Hall Community Centre
4,050
—
—
4,050
_4,500_
Other Grants
—
1,700
—
1,700
_1,700_
Administrative Costs
113
—
—
113
_116_
**Total expenditure**
**13,913**
**19,086**
**—**
**32,999**
**_22,077_**
**Net income / (expenditure)**
**(2,184)**
**(2,616)**
**—**
**(4,800)**
**_7,550_**
**_Other recognised gains / losses_**
Gains / losses on investment assets
—
4,044
(35,783)
(31,739)
_29,724_
**Net movement in funds**
**(2,184)**
**1,429**
**(35,783)**
**(36,539)**
**_37,274_**
**_Reconciliation of funds_**
**Total funds brought forward**
**13,443**
**190,606**
**674,960**
**879,009**
**_841,736_**
**Total funds carried forward**
**11,258**
**192,035**
**639,177**
**842,470**
**_879,009_**
**_Represented by:_**
**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**total funds**
**Unrestricted**
General fund
11,258
—
—
11,258
_13,443_
**Restricted**
Former School Governors Fund
—
8,759
—
8,759
_14,706_
Former School Governors Reserve Fund
—
169,460
—
169,460
_165,371_
Miss Rattey Bequest
—
4,990
—
4,990
_5,074_
St Patrick's Fund Income
—
8,826
—
8,826
_5,455_
**Endowment**
Former School Governors Endowment: Spencer
—
—
126,004
126,004
_121,456_
St Patrick's Fund Endowment
—
—
210,754
210,754
_212,527_
Trustees of St Alban's School Endowment
—
—
302,420
302,420
_340,977_
**Funds of the charity**
**11,258**
**192,035**
**639,177**
**842,470**
**_879,009_**|
|---|---|
The notes on pages 11 to 16 form part of these financial statements.
Report and Financial Statements for 31 August 2020
Page 9 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## **Balance Sheet as of 31[st] August 2020**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Prior year**||
|---|---|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|**funds**|**total funds**||
|**Fixed assets**||||||||
|Investments||—|174,003|638,686|812,688|_844,427_||
|Total fixed assets||**—**|**174,003**|**638,686**|**812,688**|**_844,427_**||
|Cash at bank and in hand||16,542|18,032|491|35,065|_39,865_||
|||||||||
|Total current assets||**16,542**|**18,032**|**491**|**35,065**|**_39,865_**||
|Grants awarded but not yet paid||5,283|—|—|5,283|_5,283_||
|Total liabilities||**5,283**|—||**5,283**|**_5,283_**||
|**Net current assets less current liabilities**||**11,258**|**18,032**|**491**|**29,728**|**_26,764_**||
|**Total assets less current liabilities**||**11,258**|**192,035**|**639,177**|**842,470**|**_879,009_**||
|**Total net assets less liabilities**||**11,258**|**192,035**|**639,177**|**842,470**|**_879,009_**||
|**_Represented by:_**|**Unrestricted**||**Restricted**|**Endowment**|**Total**|**Prior year**||
|||**funds**|**funds**|**funds**|**funds**|**total funds**||
|**Unrestricted**||||||||
|General fund||11,258|—|—|11,258|_13,443_||
|**Restricted**||||||||
|Former School Governors Fund||—|8,759|—|8,759|_14,706_||
|Former School Governors Reserve Fund||—|169,460|—|169,460|_165,371_||
|Miss Rattey Bequest||—|4,990|—|4,990|_5,074_||
|St Patrick's Fund Income||—|8,826|—|8,826|_5,455_||
|**Endowment**||||||||
|Former School Governors Endowment: Spencer||—|—|126,004|126,004|_121,456_||
|St Patrick's Fund Endowment||—|—|210,754|210,754|_212,527_||
|Trustees of St Alban's School Endowment||—|—|302,420|302,420|_340,977_||
|||||||||
|**Funds of the charity**||**11,258**|**192,035**|**639,177**|**842,470**|**_879,009_**||
For the year ending 31[st] August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and the Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) as amended in July 2015.
Approved by the Directors and signed on their behalf by
Peter T Marsh (Chairman) 10[th] May 2021
The notes on pages 11 to 16 form part of these financial statements.
Page 10 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## Notes to the Financial Statements for the period 1[st] September 2019 to 31[st] August 2020
## 1. Accounting Policies
## a. Basis of Accounting
The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value, in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime and the Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) as amended in July 2015.
- b. Fund Accounting – see notes 7 to 10.
## c. Income and Endowments
All income and endowments are included in the statement of financial activities when the Charity is entitled to the income or endowment and the amount can be quantified with reasonable accuracy.
Investment income is included when receivable.
## d. Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. See note 6 regarding grants awarded but not yet paid to recipients.
The Investment Portfolio managed by EFG Harris Allday consists mainly of the Trustees’ Endowment. To maintain the value of this Endowment and the income it yields EFG Harris Allday make changes to the portfolio from time to time. The associated costs of management are deducted from the capital as brokerage commission and admin fees when trades are made and so do not appear as explicit expenditure. Charges for the period under review were £2,431.85 (£2,426.85 broker’s fees and £5.00 Stock Exchange Levy). Similarly, the costs of management by CCLA of the funds invested in CBF shares are internal to the operation of the CBF funds and not reported as explicit expenditure.
Administrative costs include those associated with meeting the constitutional and statutory requirements of the charity, including examination of the accounts and costs linked to the strategic management of the charity.
## e. Fixed Assets
See note 4 regarding tangible fixed assets.
Investment assets: Stocks and shares are valued at closing price on the balance sheet date (or the last preceding trading day if that is not a trading day). Investments with the CBF Church of England Fixed Income and Investment Funds are valued at mid value (“net asset value”) on the balance sheet date.
Report and Financial Statements for 31 August 2020
Page 11 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## 2. Charitable Activities
Grants made from the General Fund 1 September 2019 – 31 August 2020:
- a. Chaplaincy at St Alban's Academy. £5,000 to replenish the reserve of £5,283 set aside to continue annual contribution of £5,000 to the Diocese of Birmingham towards funding the half-time post of Chaplain at Ark St Alban’s Academy. £5,000 was paid over from the reserve during the year. (The post was vacant from June 2016 to October 2017 and no allocation was made during the year 2017-2018; but £4,717 was paid to the Diocese from the balance of £10,000 set aside in previous years, reducing the balance set aside to £5,283.)
- b. Maintenance of Public Worship at St Alban’s Church. £2,500 to St Alban’s PCC to help maintain public worship, an increase from the annual £2,000 in recent years.
- c. Funding the United Highgate Food Bank. £1,500 to St Alban’s PCC to purchase food for the United Highgate Food Bank based at St Alban’s Church and operated by church volunteers.
- d. Highgate Community Support – Community Lunches & Events. £1,800 to Highgate Community Support Ltd. (formerly Stanhope Hall Support Group) towards community lunches and events at Stanhope Wellbeing Hub (formerly Stanhope Hall) in the parish.
- e. Highgate Community Support – Children and Young People. £1,250 to Highgate Community Support Ltd. to support youth activities at Stanhope Wellbeing Hub.
- f. Highgate Community Support – Care and Friendship Programme. £1,000 to Highgate Community Support Ltd. to support their Care and Friendship programme in the parish.
- g. Ark St Alban’s Academy – Inspiring Excellence Music Events. £750 to Ark St Alban’s Academy to allow participation in “Inspiring Excellence” music events.
Grants made to Ark St Alban’s Academy from the Former School Governors’ Fund:
- a. Ark St Alban’s Academy – Books for New Students. £175 to be added to £700 granted last year but not expended, to provide a book of background reading to be given during a home visit to Year 7 students joining the Academy, many of whom do not have a European cultural background.
- b. Ark St Alban’s Academy – Duke of Edinburgh’s Award. £2,000 to assist students from poor families to take part in the Duke of Edinburgh’s Award Scheme.
- c. Ark St Alban’s Academy – Emergency Walkie Talkies. £2,391 for Walkie Talkies capable of communicating within and around the Academy Building to assist staff in dealing with urgent situations.
- d. Ark St Alban’s Academy – Brilliant Club. £5,820 to enable participation in events run by the Brilliant Club, a non-profit organisation that aims to widen access to university for students from underrepresented groups.
- e. Ark St Alban’s Academy – Girls’ Network. £4,300 to enable participation in the Girls’ Network, which aims to inspire and empower girls from the least advantaged
Page 12 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
communities by connecting them to a mentor and a network of professional female role models.
Grant made to Ark St Alban’s Academy from the Miss Rattey Bequest Fund:
- a. Ark St Alban’s Academy – Girls’ Network. £200 in addition to the £4,300 above.
Grants made from the St Patrick’s Restricted Fund:
- a. Maintenance of Public Worship at St Alban’s Church. £2,500 to St Alban’s PCC to help maintain public worship, an increase from the £2,000 annually in recent years.
- b. Stanhope Women’s Group. £1,000 to Stanhope Women’s Group (operating at Stanhope Wellbeing Hub – formerly Stanhope Hall – in the parish) to subsidise coach trips for poor parish residents.
- c. The Dizzy Dancers. £700 to the Dizzy Dancers – a non-profit group providing dance classes for children in the parish run at Highgate Baptist Church in the parish by IDTA trained volunteers.
## 3. Administrative Costs
Examination of Financial Statements for 2018/9, £100; Annual Companies’ House Fee, £13.
## 4. Tangible Assets
Under the Charity Commission Scheme of 8[th ] April 2011 the Freehold of the land on which the St Alban’s School buildings stood, designated WM877706 at the Land Registry, was transferred to the Charitable Company. It is not capitalised because it is leased at a peppercorn rent to Ark Academies for use by St Alban’s Academy. The old school buildings have been demolished and the site landscaped for use by the Academy. The part adjacent to Stanhope Street is accessible as a public amenity, with low, park-style railings provided by a grant from the Trustees in 2012-13 and benches provided by a grant from the Trustees in 2016-17.
## 5. Investments
Restricted – Former School Governor’s Reserve Fund: £45,424 CCLA CBF Fixed Interest Securities Fund, £117,327 CCLA CBF Investment Fund, £6,708 EFG Harris Allday; Miss Rattey Bequest: £4,543 CBF Fixed Interest Securities Fund.
Endowment – Trustees of St Alban’s School Endowment: £302,420 Stocks & Shares portfolio managed on a discretionary basis by EFG Harris Allday; Spencer Bequest (Former School Governor’s Endowment): £126,004 CBF Investment Income Fund (managed by Diocesan Trustees); St Patrick’s Fund Endowment: £32,076 CCLA CBF Fixed Interest Securities Fund, £76,499 CCLA CBF Investment Fund, £61,848 CCLA CBF UK Equities Fund, £39,840 CCLA CBF Property Fund and £491 CCLA CBF Deposit Fund. The charitable company is corporate trustee of the St Alban’s and St Patrick’s endowments; the Spencer Bequest is vested in the Birmingham Diocesan Trustees.
6. Liabilities – Grants already awarded but not yet drawn
At the start and end of the accounting period, £5,283 from the General Fund set aside for a continuing annual contribution of £5,000 towards the provision by the Diocese of Birmingham of a Chaplain for St Alban’s.
Report and Financial Statements for 31 August 2020
Page 13 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## 7. Unrestricted Funds
The General Fund is available for use at the discretion of the Directors/Trustees in furtherance of the general objectives of the charity.
## 8. Restricted Funds
The Former School Governors’ Fund, Former School Governors’ Reserve Fund and the Miss Rattey Bequest may only be used for the benefit of St Alban’s Academy as successor to St Alban’s School; the St Patrick’s Fund is to be used “to further the religious and other charitable work of the Church of England in the parish of St Alban the Martyr and St Patrick”.
## 9. Permanent Endowment Funds
The capital of Endowment Funds – the Trustees of St Alban’s School Endowment, the Spenser Bequest and the St Patrick’s Fund Endowment – cannot be expended; only the income from them is available for use. The income from the Trustees’ Endowment is the General Fund; the income from the Spencer Bequest is part of the Former School Governors’ Fund; and the income from the St Patrick’s Fund Endowment is part of the St Patrick’s Fund.
## 10. Comparative Figures
Paragraph 4.2 of the SORP FRS 102 requires that comparative information for the previous year must be provided for all amounts provided in the SoFA. Comparative information for the total funds of a charity must be provided on the face of the SoFA and comparative information for each class of funds can be provided either on the face of the SoFA or in a note to the accounts. To provide comparative information for each class of funds the SoFA for the year ending 31[st] August 2019 is reproduced on the next page.
Page 14 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## **Statement of Financial Activities for the period from 1[st] September 2018 to 31[st] August 2019**
||**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**_Income and Endowments from:_**
Investments
Managed Investment Portfolio
12,747
295
—
13,042
_11,416_
CBF Investments
—
16,561
—
16,561
_16,385_
Deposit & Bank Interest
7
16
—
23
_27_
**Total income and endowments**
**12,754**
**16,872**
**—**
**29,626**
**_27,827_**
**_Expenditure on:_**
Expenditure on Charitable Activities
Grants to Diocese for Academy Chaplaincy
5,000
—
—
5,000
—
Grants to St Alban's Academy (Sports Facilities)
—
—
—
—
_12,900_
Grants to St Alban's Academy (Other)
—
5,711
—
5,711
_7,455_
Grants to St Alban's PCC (Maint. Pub. Worship) 2,000
2,000
—
4,000
_4,000_
Grants to support United Highgate Food Bank
1,500
—
—
1,500
_1,000_
Grants for Stanhope Hall Community Centre
—
4,050
—
4,050
_1,780_
Other Grants
1,000
700
—
1,700
_1,700_
Administrative Costs
116
—
—
116
_421_
**Total expenditure**
**9,616**
**12,461**
**—**
**22,077**
**_29,256_**
**Net income / (expenditure)**
**3,138**
**4,411**
**—**
**7,550**
**_(1,428)_**
**_Other recognised gains / losses_**
Gains / losses on investment assets
—
9,706
20,018
29,724
_16,368_
**Net movement in funds**
**3,138**
**14,117**
**20,018**
**37,274**
**_14,940_**
**_Reconciliation of funds_**
**Total funds brought forward**
**10,304**
**176,489**
**654,942**
**841,736**
**_826,796_**
**Total funds carried forward**
**13,443**
**190,606**
**674,960**
**879,009**
**_841,736_**
**_Represented by:_**
**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**total funds**
**Unrestricted**
General fund
13,443
—
—
13,433
_10,304_
**Restricted**
Former School Governors Fund
—
14,706
—
14,437
_8,216_
Former School Governors Reserve Fund
—
165,371
—
165,371
_156,086_
Miss Rattey Bequest
—
5,074
—
5,074
_4,743_
St Patrick's Fund Income
—
5,455
—
5,455
_7,444_
**Endowment**
Former School Governors Endowment: Spencer
—
—
121,456
121,456
_113,149_
St Patrick's Fund Endowment
—
—
212,527
212,527
_203,312_
Trustees of St Alban's School Endowment
—
—
340,977
340,977
_338,481_
**Funds of the charity**
**13,443**
**190,606**
**674,960**
**879,009**
**_841,736_**|
|---|---|
Report and Financial Statements for 31 August 2020
Page 15 of 17
Trustees of St Alban’s School
Charity 1139434
Company 7287734
Paragraph 4.2 of the SORP FRS 102 also requires that comparative information must be provided for all amounts provided in the balance sheet. Comparative information for the total funds of a charity must be provided on the face of the balance sheet and comparative information for each class of funds can be provided either on the face of the balance sheet or in a note to the accounts. To provide comparative information for each class of funds the balance sheet for the year ending 31[st] August 2019 is reproduced here:
## **Balance Sheet as of 31[st] August 2019**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Prior year**||
|---|---|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|**funds**|**total funds**||
|**Fixed assets**||||||||
|Investments||—|169,958|674,469|844,696|_814,972_||
|Total fixed assets||**—**|**169,958**|**674,469**|**844,696**|**_814,972_**||
|Cash at bank and in hand||18,726|20,648|491|39,865|_36,297_||
|||||||||
|Total current assets||**18,726**|**20,648**|**491**|**39,865**|**_36,297_**||
|Grants awarded but not yet paid||5,283|—|—|5,283|_9,533_||
|Total liabilities||**5,283**|—|**491**|**5,283**|**_9,533_**||
|**Net current assets less current liabilities**||**13,443**|**20,648**|**491**|**34,582**|**_26,764_**||
|**Total assets less current liabilities**||**13.443**|**190,606**|**674,960**|**879,009**|**_841,736_**||
|**Total net assets less liabilities**||**13,443**|**190,606**|**674,960**|**879,009**|**_841,736_**||
|**_Represented by:_**|**Unrestricted**||**Restricted**|**Endowment**|**Total**|**Prior year**||
|||**funds**|**funds**|**funds**|**funds**|**total funds**||
|**Unrestricted**||||||||
|General fund||13,443|—|—|13,433|_10,304_||
|**Restricted**||||||||
|Former School Governors Fund||—|14,706|—|14,437|_8,216_||
|Former School Governors Reserve Fund||—|165,371|—|165,640|_156,086_||
|Miss Rattey Bequest||—|5,074|—|5,074|_4,743_||
|St Patrick's Fund Income||—|5,455|—|5,455|_7,444_||
|**Endowment**||||||||
|Former School Governors Endowment: Spencer||—|—|121,456|121,456|_113,149_||
|St Patrick's Fund Endowment||—|—|212,527|212,527|_203,312_||
|Trustees of St Alban's School Endowment||—|—|340,977|340,977|_338,481_||
|||||||||
|**Funds of the charity**||**13,443**|**190,606**|**674,960**|**879,009**|**_841,736_**||
Approved by the Directors and signed on their behalf by:
Peter T Marsh (Chairman)
10[th] May 2021
Page 16 of 17
Report and Financial Statements for 31 August 2020
Trustees of St Alban’s School
Charity 1139434
Company 7287734
## Independent examiner's report to the trustees of the charitable company The Trustees of St Alban’s School ('the Company') Charity Number 1139434; Company Number 7287734
I report to the charity trustees (who are also the directors of the charitable company) on my examination of the accounts of the Company for the year ended 31 August 2020.
## Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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: Date: 10 May 2021
William T Cooper ACIB 70 Overbury Close Birmingham B31 2HD
Report and Financial Statements for 31 August 2020
Page 17 of 17