## The Trustees of St Alban’s School (A Charitable Company Limited by Guarantee) Report and Financial Statements for the period 1[st] September 2020 to 31[st] August 2021 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 – Secretary (from 18thNovember 2021)|||| |covered by|this report|Dennis Edward Clark|| |and until its adoption:||Joanne Lesley Dawson (Chair from 18thNovember 2021)|| |||Mary Dorothy Goodman (died 1stFebruary 2021)|| |||Prof Peter Timothy Marsh (Chair, resigned 18thNovember 2021)|| |||Philippa Helen Roberts (from 19thSeptember 2020)|| |||Dr Christopher Andrew Smith (Treasurer, Acting Chair 18/11/22)|| |||Dianne Wainwright|| |||Elizabeth Anne Wycherley – Secretary (resigned 6thJuly 2021)|| |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 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 ## Report of the Directors and Trustees for the period 1[st] September 2020 to 31[st] August 2021 ## 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 held over the Zoom videoconferencing system on 14[th] October 2020 Amanda Cadman and Peter Bould retired as Trustees and Directors and were reappointed by the meeting. A new Trustee, Philippa Roberts was appointed, with the legal formalities of her appointment completed on 19[th] September 2020. Long-standing Trustee Mary Goodman died on 1[st] February 2021 at the age of 102. Elizabeth Wycherley resigned as Trustee and Secretary on 6[th] July 2021, citing difficulty in attending meetings at the Academy due to the Birmingham Clean Air Zone and inability to take part in online meetings by Zoom. After the period covered by these accounts Peter Marsh resigned as a Trustee and Chair of the Report and Financial Statements for 31 August 2021 Page 3 of 17 Trustees of St Alban’s School Charity 1139434 Company 7287734 Trustees from the annual meeting on 18[th] November 2021 due to ill health; he died on 4[th] January 2022. The same meeting elected Joanne Dawson was elected Chair of the Trustees. 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 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 14[th] of October 2020. At the start of February 2021 the Trustees conferred by e-mail agreeing to give £1,000 not allocated from the St Patrick's Fund at the annual meeting to the Academy to provide additional assistance to students studying at home due to Covid-19 through provision of textbooks or computing resources and agreed to the request of the Principal of the Academy to allow virement of the grants made at the annual meeting between these purposes to provide the best support to students. No further meetings were held until the next annual meeting on the 18[th] of November 2021. ## Accounting period The period of the financial statements runs from 1[st] September 2020 to 31[st] August 2021. ## 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 1960s of the Page 4 of 17 Report and Financial Statements for 31 August 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 premises of a former church school in the parish, on the corner of Leopold Street and Dymoke Street, the site of the original mission chapel of 1865 and the church of 1871, each in turn later used as school rooms when a larger, church of St Alban was opened. 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 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 (held by Diocesan Trustees), the Bequest of Henry Spencer (died 1915) the income “to be applied towards maintenance and support of the schools belonging to the churches of St Alban and St Patrick Highgate Birmingham”, the remainder from 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 built on the site of St Patrick’s Mission opened as a combined chapel and school room in 1873 on Highgate Street. 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, normally in September or October, retaining a small reserve for anticipated expenses. As 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 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. Report and Financial Statements for 31 August 2021 Page 5 of 17 Trustees of St Alban’s School Charity 1139434 Company 7287734 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. ## 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 provide 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. In the year from 1[st] September 2020 to 31[st] August 2021, 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. (Due to Covid-19 socially distanced public Sunday worship was provided, with services streamed over Zoom and recordings posted on YouTube, accessible from the church website, for the benefit of those unable to attend in person.) - £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 (£1,800), Children/Youth Programme (£1,250), and Community Lunches & Events (£1,000). 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 £8,899 to be used in various ways during closures due to the Covid-19 pandemic. Originally the allocation was: £4,500 to provide laptops for poorly resourced students; £2,250 to provide broadband dongles for poorly resourced students; computers, £1,550 to provide copies of A-Level textbooks for home use by students; £599 to provide mental health counselling to students. Subsequently the Trustees agreed to allow virement between these purposes as alternative funding for laptops became available and awarded a further £1,000 to be used for broadband dongles or A-Level textbooks. Page 6 of 17 Report and Financial Statements for 31 August 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 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 £7,601 as follows: £2,500 further support to the Parochial Church Council to maintain regular public worship open to all; £1,901 to Ark St Alban’s Academy for mental health counselling for students affected by the Covid-19 pandemic (added to the £599 mentioned above); £1,500 to Highgate United Food Bank to provide weekly food parcels to local residents in need; £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; an additional £1,000 to Ark St Alban’s Academy to provide broadband access or textbooks for home use as needed by poor students. ## 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 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. Since the church reopened for socially distance Sunday services, live streaming over Zoom has continued for members of the congregation unable or unwilling to attend in person. Ark St Alban’s Academy. Some grants made in 2019 were unspent in October 2020. Only £2,788 of a grant of £5,820 for participation in the Brilliant Club and £650 of a grant of £750 for participation in Inspiring Excellence were spent before closure of the Academy to most pupils during lockdown. £2,000 to support participation in the Duke of Edinburgh’s Award scheme and £175 for books to give to new year 7 pupils in home visits (plus £700 unspent from 2018) were unspent. The Academy expected to use them when these activities could resume. The purposes of grants made in 2020 reflected needs during the Covid-19 pandemic. Highgate Community Support Ltd./Stanhope Hall. Most activities were suspended due to Covid-19; however, distribution of weekly “Let’s Feed Brum” food parcels continued and during lockdown demand for these increased. The Dizzy Dancers. Normal classes were suspended, and free Zoom classes offered, which some of the dancers opted into. Socially distanced, classes recommenced, and a video examination session was completed. Strict social distancing limited capacity and no new students could be taken on. The Trustees’ grants were vital to the Dizzy Dancers surviving the lockdown and restrictions. Although restrictions have eased, recruiting is proving difficult. Stanhope Women’s Group. The Covid-19 lockdown prevented coach trips from taking place and a grant made in 2019 is still 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; Report and Financial Statements for 31 August 2021 Page 7 of 17 Trustees of St Alban’s School Charity 1139434 Company 7287734 - 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. 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 or elsewhere in the parish. ## Audit Exemption under the Companies Act 2006 The Charitable Company qualified for total audit exemption for the period 1[st] September 2020 to 31[st] August 2021, because it had annual turnover of no more than £10.2 million net (income £27,643, expenditure £28,166), a balance sheet total of no more than £5.1 million (£952,963) and 50 or fewer employees (none), it, and no members had 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 examination 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: Joanne L. Dawson (Chair) Page 8 of 17 Report and Financial Statements for 31 August 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 ## **Statement of Financial Activities** ## **for the period from 1[st] September 2020 to 31[st] August 2021** ||**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**

**_Income and Endowments from:_**
Investments
Managed Investment Portfolio
11,651
—
—
11,651
_11,827_
CBF Investments
—
15,990
—
15,990
_16,360_
Deposit & Bank Interest
—
2
—
2
_12_
**Total income and endowments**
**11,651**
**15,992**
**—**
**27,643**
**_28,199_**
**_Expenditure on:_**
Expenditure on Charitable Activities
Grants to Diocese for Academy Chaplaincy
5,000
—
—
5,000
5,000
Grants to St Alban's Academy
—
11,800
—
11,800
_15,636_
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
—
700
—
700
_1,700_
Administrative Costs
116
—
—
116
_113_
**Total expenditure**
**11,666**
**16,500**
**—**
**28,166**
**_32,999_**
**Net income / (expenditure)**
**(15)**
**(508)**
**—**
**(523)**
**_(4,800)_**
**_Other recognised gains / losses_**
Gains / losses on investment assets
—
19,241
91,774
111,016
_(31,739)_
**Net movement in funds**
**(15)**
**18,733**
**91,774**
**110,493**
**_(36,539)_**
**_Reconciliation of funds_**
**Total funds brought forward**
**11,258**
**192,035**
**639,177**
**842,470**
**_879,009_**
**Total funds carried forward**
**11,243**
**210,768**
**730,952**
**952,963**
**_842,470_**
**_Represented by:_**
**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**total funds**
**Unrestricted**
General fund
11,243
—
—
11,243
_11,258_
**Restricted**
Former School Governors Fund
—
8,623
—
8,623
_8,759_
Former School Governors Reserve Fund
—
188,823
—
188,823
_169,460_
Miss Rattey Bequest
—
4,835
—
4,835
_4,990_
St Patrick's Fund Income
—
8,487
—
8,487
_8,826_
**Endowment**
Former School Governors Endowment: Spencer
—
—
148,108
148,108
_126,004_
St Patrick's Fund Endowment
—
—
238,670
238,670
_210,754_
Trustees of St Alban's School Endowment
—
—
344,174
344,174
_302,420_
**Funds of the charity**
**11,243**
**210,768**
**730,952**
**952,963**
**_842,470_**| |---|---| The notes on pages 11 to 16 form part of these financial statements. Report and Financial Statements for 31 August 2021 Page 9 of 17 Trustees of St Alban’s School Charity 1139434 Company 7287734 ## **Balance Sheet as of 31[st] August 2021** ||**Unrestricted**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Prior year**|| |---|---|---|---|---|---|---|---| |||**funds**|**funds**|**funds**|**funds**|**total funds**|| |**Fixed assets**|||||||| |Investments||—|193,244|730,460|923,704|_812,688_|| |Total fixed assets||**—**|**193,244**|**730,460**|**923,704**|**_812,688_**|| |Cash at bank and in hand||16,642|18,524|491|35,658|_35,065_|| ||||||||| |Total current assets||**16,642**|**18,524**|**491**|**35,658**|**_35,065_**|| |Creditors||116|—|—|116|—|| |Grants awarded but not yet paid||5,283|1,000|—|6,283|_5,283_|| |Total liabilities||**5,396**|1,000|—|**6,396**|**_5,283_**|| |**Net current assets less current liabilities**||**11,243**|**17,524**|**491**|**29,259**|**_29,782_**|| |**Total assets less current liabilities**||**11,243**|**210,768**|**730,952**|**952,963**|**_842,470_**|| |**Total net assets less liabilities**||**11,243**|**210,768**|**730,952**|**952,963**|**_842,470_**|| |**_Represented by:_**|**Unrestricted**||**Restricted**|**Endowment**|**Total**|**Prior year**|| |||**funds**|**funds**|**funds**|**funds**|**total funds**|| |**Unrestricted**|||||||| |General fund||11,243|—|—|11,243|_11,258_|| |**Restricted**|||||||| |Former School Governors Fund||—|8,623|—|8,623|_8,759_|| |Former School Governors Reserve Fund||—|188,823|—|188,823|_169,460_|| |Miss Rattey Bequest||—|4,835|—|4,835|_4,990_|| |St Patrick's Fund Income||—|8,487|—|8,487|_8,826_|| |**Endowment**|||||||| |Former School Governors Endowment: Spencer||—|—|148,108|148,108|_126,004_|| |St Patrick's Fund Endowment||—|—|238,670|238,670|_210,754_|| |Trustees of St Alban's School Endowment||—|—|344,174|344,174|_302,420_|| ||||||||| |**Funds of the charity**||**11,243**|**210,768**|**730,952**|**952,963**|**_842,470_**|| For the year ending 31[st] August 2021 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: Joanne L. Dawson (Chair) The notes on pages 11 to 16 form part of these financial statements. Page 10 of 17 Report and Financial Statements for 31 August 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 ## Notes to the Financial Statements for the period 1[st] September 2020 to 31[st] August 2021 ## 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 Trustee’s Endowment is managed as an investment portfolio by EFG Harris Allday. 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 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 £1,326.70 (£1,324.70 broker’s fees and £2.00 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 2021 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 2020 – 31 August 2021: - a. Chaplaincy at St Alban's Academy. £5,000 to replenish the reserve of £5,283 set aside to continue an 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 (increased in 2019-2020 from £2,000 annually). - c. Highgate Community Support – Community Lunches & Events. £1,800 to Highgate Community Support Ltd. towards community lunches and events at Stanhope Wellbeing Hub (formerly Stanhope Hall) in the parish. - d. Highgate Community Support – Children and Young People. £1,250 to Highgate Community Support Ltd. to support youth activities at Stanhope Wellbeing Hub. - e. Highgate Community Support – Care and Friendship Programme. £1,000 to Highgate Community Support Ltd. to support their Care and Friendship programme in the parish. Grants made to Ark St Alban’s Academy from the Former School Governors’ Fund: - a. Ark St Alban’s Academy – Laptops. £4,500 to Ark St Alban’s Academy to provide laptops for poorly resourced students working at home due to Covid-19. (The Trustees later gave permission virement to broadband provision or textbooks as alternative provision of laptops became available.) - b. Ark St Alban’s Academy – Broadband Dongles. £2,250 to Ark St Alban’s Academy to provide broadband access dongles for poorly resourced students working at home due to Covid-19. - c. Ark St Alban’s Academy – A-Level Textbooks. £1,550 to Ark St Alban’s Academy to provide A-Level textbooks for students working at home due to Covid-19. - d. Ark St Alban’s Academy – Mental Health Counselling. £439 to Ark St Alban’s Academy to provide Mental Health Counselling (part of £2,500 with other Funds). Grant made to Ark St Alban’s Academy from the Miss Rattey Bequest Fund: - a. Ark St Alban’s Academy – Mental Health Counselling. £160 to Ark St Alban’s Academy to provide Mental Health Counselling (part of £2,500 with other Funds). 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, (increased in 2019-2020 from £2,000 annually), of which £1,000 remained to be paid to the PCC on the 1[st] of September 2021. - b. 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. Page 12 of 17 Report and Financial Statements for 31 August 2021 Trustees of St Alban’s School Charity 1139434 Company 7287734 - c. Ark St Alban’s Academy – Mental Health Counselling. £1,901 to Ark St Alban’s Academy to provide Mental Health Counselling (part of £2,500 with other Funds). - d. Ark St Alban’s Academy – Broadband or Textbooks. £1,000 to Ark St Alban’s Academy to provide additional broadband dongles or A-Level textbooks as needed. - e. 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 2019-2020, £100; Annual Companies’ House Fee, £13; postage of accounts to Companies House £3. ## 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, which now stands on adjacent land owned by Birmingham City Council. The part of the Trustees’ land adjacent to Stanhope Street is accessible as a public amenity, with low, park-style railings provided by a grant from the Trustees in 201213 and benches provided by a grant from the Trustees in 2016-17. ## 5. Investments Restricted – Former School Governor’s Reserve Fund: £44,205 CCLA CBF Fixed Interest Securities Fund, £139.909 CCLA CBF Investment Fund; Miss Rattey Bequest: £4,421 CBF Fixed Interest Securities Fund. Endowment – Trustees of St Alban’s School Endowment: £344,174 Stocks & Shares portfolio managed on a discretionary basis by EFG Harris Allday; Spencer Bequest (Former School Governor’s Endowment): £148,108 CBF Investment Income Fund (managed by Diocesan Trustees); St Patrick’s Fund Endowment: £31,215 CCLA CBF Fixed Interest Securities Fund, £89,919 CCLA CBF Investment Fund, £74,129 CCLA CBF UK Equities Fund, £42,915 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 ## General Creditors £100 honorarium for examination of the 2019-2020 accounts; refunds due to the Treasurer of £13 Companies House fee and £3 postage. ## 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. At the end of the period £1,000 from the St Patrick’s Fund due to St Alban’s PCC for Maintenance of Public Worship. Report and Financial Statements for 31 August 2021 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 2020 is reproduced on the next page. Page 14 of 17 Report and Financial Statements for 31 August 2021 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_**| |---|---| Report and Financial Statements for 31 August 2021 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 2020 is reproduced here: ## **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_**|| Approved by the Directors and signed on their behalf by: Joanne L. Dawson (Chair) Page 16 of 17 Report and Financial Statements for 31 August 2021 Company 7287734 Trustees of St Alban'5 School Charity 1139434 Independent examiner'3 report to the trustees of the charltable company The Trustees ot 5t Alban's School I'the Company,) Charity Number 1139434: Company Number 7287734 I report to the chaiity trustee5 (who are a150 the directors of the charltable company) on my examination ot the accounts ot the Company for the year ended 31 August 2021. Responsibilities and basis of report As the charity's trustees of the Company {and also its directors for the purposes of companv lawl you are responsible for the preparation of the accounts in accordance with the requirement5 of the Componie3 Act 200G I'the 2006 Act'l. Having satisfied myself that thp. 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 ie5VeLL of tny exafflinatlon of your charlty's accounis as carried oui under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Direttions given by the Charity Commission under settion 145151 Ibl of the 2011 Art_ Ind•pendent examiner's statement I have comL)leted my examination. I confirni that no matters have come to my attÈntinn in connection with the examination giving me cause to believe". accouiitllls I VLvid5 Iiut kepl in respect of the Company as requlred by seciion Ib of the 2006 Act; or 2. the accounts do not accord with those record:: or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the ar.r.niint£ givp x 'triip and fair viow which is not a matter considered as part of an independent cxamination.. or 4. the accounts have not been prepared in accordance with the methods and principles ofthe Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparin8 their accovntc in aceordancc with thc Financial Ileportins Standard applicable in the UK ari(J Republii uf Ireliirid (FR5 10211. I have no concerns and have come acros5 no other matters in connection with tho examination to which attention should be drawn in this report in order to enable a proper understandins of the account3 to be reached. Signed: Date= 17 April 2022 William T Cooper, Associate of Chartered Institute of Banker5 IU. K.) 70 Overbury Close Birmin8ham B312HD Report and Financial Statements for 31 August 2021 Page 17 of 17