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2020-08-31-accounts

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Registered charity number: 1150411

Speakers for Schools

Annual Report and Financial Statements for the Year Ended 31 August 2020

Clearstone Business Services Ltd Independent Examiner The Dock Hub Wilbury Villas Hove BN3 6AH

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Speakers for Schools

Contents

Contents
Reference and Administrative Details 1
Strategic Report 2
Trustees' Report 3 to 6
Statement of Trustees' Responsibilities 7
Accountants' Report 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 19

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Speakers for Schools

Reference and Administrative Details

Chairman

Andrew Law

Trustees

David Giampaolo Andrew Law Sakhila Mona Mirza Diana Osagie Robert Peston Roland Rudd

Senior Management Team

Jason Elsom, Chief Executive Officer

Principal Office

Fleet House 8-12 New Bridge Street London EC4V 6AL

Charity Registration Number

1150411

Independent Examiner

Clearstone Business Services Ltd Independent Examiner The Dock Hub Wilbury Villas Hove BN3 6AH

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Speakers for Schools

Strategic Report for the Year Ended 31 August 2020

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 August 2020, in compliance with s414C of the Companies Act 2006.

The strategic report was approved by the trustees of the charity on 12 March 2021 and signed on its behalf by:

......................................... Andrew Law Chairman and Trustee

......................................... Robert Peston Founder & Trustee

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Speakers for Schools

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2020.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Speakers for Schools is a registered Charitable Incorporated Organisation that has been registered with the Charity Commission since 9[th] January 2013.

Since September 2019, the charity's day-to-day management has been led by the Chief Executive Officer (CEO), Jason Elsom, as appointed by the Board of Trustees at the start of the financial year. The CEO oversees a 16-person delivery team, their progress towards annual targets, administration, organisational partnerships and strategic development of the charity’s work across the sector and stakeholders.

The Board of Trustees holds an annual meeting with the CEO to review activities, performance and strategic direction of the charity, in addition to termly in-depth progress briefings with conference calls to discuss progress and agree on any major developments across the year. The CEO otherwise has highly regular contact with the Board for awareness as to activities, for approval of expenditures and plans and guidance as required.

Management and Personnel

The key management personnel of Speakers for Schools are the Chair and Board of Trustees together with the CEO.

The CEO works with senior team managers to execute the day-to-day programme delivery, including two programme managers overseeing delivery of the charity’s engagements. This period saw the core team of the charity grew from 8 to 16 full-time team members.

General staff salaries are annually reviewed and increased where appropriate for the staff member’s tenure and job responsibilities. Salaries are informally benchmarked against market rates in similar organisations.

OBJECTIVES AND ACTIVITIES

Objectives of the charity for public benefit

The charity’s activities continue to be guided by the wider vision to help level the playing field for young people of all backgrounds through access to the necessary insights, expertise and encouragement to help them succeed in their future ambitions.

Speakers for Schools specialises in cultivating a network support of distinguished, eminent figures from all walks of life, from business leaders to renowned scientists and arts figures, to give their time and support for inspiring engagements and opportunities that many state schools, academies and colleges would lack access to otherwise.

This is delivered primarily in the form of these individuals donating their time as speakers for unpaid school talks that allow young people in state schools to hear their experiences and advice to encourage their aspirations, and work experience placements at top organisations in the network that allow young people access to these prestigious organisations and to start to build skills for the world of work.

The Board have duly taken into consideration the Charity Commission’s guidelines on public benefit when setting the charity’s objectives. To achieve these objectives, the charity continues to work with participants and expected beneficiaries to improve the service, as well as holding key education and professional sector relationships to understand the potential impact for wider communities (such as businesses, professional bodies and higher education institutions). The charity successfully keeps the

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programme free to state school and college participants, reaching over one million young people since its launch in 2010.

The charity continually monitors participant feedback and sector need to guide the development of its delivery work and has commenced two significant pieces of research to demonstrate the impact of the Speakers for Schools speaker programme. “The Impact Assessment Project”, by Marie Guyot, published in December 2019, identified that following a Speakers for Schools talk:

Our joint report with “Education and Employers Taskforce”, published in October 2019, identified that:

Activities of the charity

The charity continues to fulfil its objectives outlined in our first 2013-14 reporting period with the aim to help level the playing field for state-maintained schools and its students by cultivating a network of access to top figures for inspirational and insightful engagements.

The continued success of the flagship Speaker Programme continues to be complemented by sustained and significant growth by the established Experience programme.

The expanding work of the charity has meant that there are increased complementary options for engagement for schools and employers, continuing its focus on a practicable commitment for busy highprofile figures as speakers that can fit into the school calendar, but also helping their organisation offer much needed work experience to those students without networks to access such prestigious organisations.

The charity has spent time communicating to all supporters and beneficiaries the benefit of participating in both programmes for the most impact, and its additional benefit of fulfilling the Gatsby Benchmarks to improve careers advice and employability skills among young people.

Overall, in this period both programmes have successfully increased the overall reach and depth of the charity’s work with state schools and young people in the UK to see further positive impact for our social mobility aims.

ACHIEVEMENT AND PERFORMANCE

Achievements and Outcomes for 2019/20

2019/20 has presented unprecedented challenges in the form of COVID-19, Speakers for Schools made significant development steps in the first half of the academic year, which has delivered strong momentum into a period which similar organisations have found particularly difficult. These included:

The growth in the team from 8 to 16 further provided the bandwidth to overcome challenges in both programmes in pivoting from physical events to digital virtual events.

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Speaker Programme

As outlined above, the Charity faced unprecedented challenges as a result of COVID-19 and across this period the speaker programme team developed and delivered new ways of engaging with state secondary schools, colleges, young people and the speaker network. The first half of this period saw talk coordination and speaker engagement in line with previous periods. The second half of this period saw the Charity launched an interactive virtual broadcast programme for young people to access from school and home during lockdown.

The broadcast programme saw 8-10 broadcasts taking place weekly curated for different age groups, and interest areas. The programme also developed guides for speakers assist speakers in preparing for their broadcast and collateral for schools to use to support young people engaging with broadcasts. The charity also coordinated virtual talks across the UK between one speaker and one school (similar to in-person events).

Key programme achievements during this period include:

A few highlight feedback quotes include:

Plans for future periods

Speakers for Schools wishes to extend its highly successful and noted Inspiration Programme to reach up to 433,000 young people per annum through extending its network to 1,750 speakers in order to deliver physical and virtual talks over the next three years. Impacting the whole of the UK in a much deeper way than currently possible with an Inspiration Programme limited by the travel plans of its network of Speakers.

Speakers for Schools plans to deliver an Advanced National Experience Programme. This will replace manual processing with advanced application of technology and data, to (in the first instance) save schools, colleges, employers and young people a significant amount of time, resource and cost incurred in brokering work experience and insight placements, whilst leveraging technology and data to help young people find and access the most appropriate opportunities for them.

Broadly, the Three-Year Development Programme for Speakers for Schools will support 1 million young people by delivering the following Year-3 outcomes:

The Law Family Charitable Foundation has pledged £6.89m of funding restricted to supporting one million young people annually by 2023, with 433,000 in inspiration programme, 523,000 in work experience and 50,000 in progression programme.

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FINANCIAL REVIEW

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level that equates to approximately three months of unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs.

Investment policy and objectives

The charity has no specific investment policy other than that referred to in the Reserves policy.

FINANCIAL REPORT AND ACTIVITIES

The total income for Speakers for Schools Charitable Incorporated Organisation (ClO) for the period of 31 August 2020 was £893,382 (2019 £842,102).

The CIO continues to be funded by the Law Family Charitable Foundation; £770,000 (2019 £750,000) was received from the Law Family Charitable Foundation of which Andrew Law is also a Trustee. COVID-19 had created a challenging environment for fundraising. Nevertheless, £24,824 of unrestricted donation was secured.

Expenditure for the CIO has been split between delivery activities and administration of the organisation including appropriate staff, technical platforms and communications that enable delivery.

Expenditure directly made on charitable activities was £716,300 (2019: £458,812). The direct staff costs of £583,076 (2019: £282,965) have increased in line with the charity's growing level of activities.

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The charity has no significant concentration of credit risk, with exposure spread over a number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses short-term debt finance in the form of credit card. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 12 March 2021 and signed on its behalf by:

......................................... Andrew Law Chairman and Trustee

......................................... Robert Peston Founder & Trustee

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Speakers for Schools

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Speakers for Schools for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.

Approved by the trustees of the charity on 12 March 2021 and signed on its behalf by:

......................................... Andrew Law Chairman and Trustee

......................................... Robert Peston Founder & Trustee

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Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Speakers for Schools for the Year Ended 31 August 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Speakers for Schools for the year ended 31 August 2020 as set out on pages 10 to 19 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed at https://bit.ly/3nsrBZg/].

This report is made solely to the Board of Directors of Speakers for Schools, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Speakers for Schools and state those matters that we have agreed to state to the Board of Directors of Speakers for Schools, as a body, in this report in accordance with CIMA Technical Release. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Speakers for Schools and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Speakers for Schools has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Speakers for Schools. You consider that Speakers for Schools is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Speakers for Schools. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................... ......................................... Andrew Law Robert Peston Chairman and Trustee Founder & Trustee

12 March 2021

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Speakers for Schools

Independent Examiner's Report to the trustees of Speakers for Schools

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 10 to 19.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Speakers for Schools (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 Speakers for Schools 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

Since Speakers for Schools' gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Chartered Institute of Management Accountants, which is one of the listed bodies.

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 Speakers for Schools 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.

...................................... Sean Daniel FCMA, CGMA Independent Examiner Chartered Institute of Management Accountants

The Dock Hub Wilbury Villas Hove BN3 6AH

12 March 2021

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Speakers for Schools

Statement of Financial Activities for the Year Ended 31 August 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted
funds
Total
2020		 Unrestricted
funds
Total
2020
Note
£
£
Income and Endowments from:
Donations and legacies
3		 831,017
831,017
Charitable activities
4		 61,937
61,937
Investment income
5		 428
428
Total income
893,382
893,382
Expenditure on:
Charitable activities
6		 (815,125)
(716,300)
Total expenditure
(815,125)
(815,125)
Net income
78,257
78,257
Net movement in funds
78,257
78,257
Reconciliation of funds
Total funds brought forward
472,730
472,730
Total funds carried forward
13
550,987
550,987
Unrestricted
Total
funds
2019
Note £
£ (As restated)
Income and Endowments from:
Donations and legacies
3		 841,790
841,790
Investment income
5		 312
312
Total income
842,102
842,102
Expenditure on:
Charitable activities
6		 (458,812)
(458,812)
Total expenditure
(458,812)
(458,812)
Net income
383,290
383,290
Net movement in funds
383,290
383,290
Reconciliation of funds
Total funds brought forward
89,440
89,440
Total funds carried forward
13
472,730
472,730

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown is shown in note 13.

The notes on pages 12 to 19 form an integral part of these financial statements. Page 10

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Speakers for Schools

Balance Sheet as at 31 August 2020

2020
2019
Note £
£ (As restated)
Current assets
Debtors
9		 13,993
-
Cash at bank and in hand
10		 559,696
484,240
573,689
484,240
Creditors: Amounts falling due within oneyear
11
(15,673)
(8,168)
Total assets less current liabilities
558,016
476,072
Creditors: Amounts falling due after more than oneyear
12
(7,029)
(3,342)
Netassets
550,987
472,730
Funds of the charity:
Unrestricted income funds
Unrestricted funds 550,987
472,730
Total funds
13
550,987
472,730

For the financial year ending 31 August 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 10 to 19 were approved by the trustees, and authorised for issue on 12 March 2021 and signed on their behalf by:

......................................... Andrew Law Chairman and Trustee

......................................... Robert Peston Founder & Trustee

The notes on pages 12 to 19 form an integral part of these financial statements. Page 11

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: Fleet House 8-12 New Bridge Street London EC4V 6AL

These financial statements were authorised for issue by the trustees on 12 March 2021.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Speakers for Schools meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Restatement of comparatives

The comparatives have been restated due to a material adjustment for VAT reclaimed in prior year.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Investment income

Interest is recognised once the interest has been received in the deposit account.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from donations and legacies

3
Income from donations and legacies
Unrestricted
funds
Total
General
funds
£
£
Donations and legacies;
Donations from companies, trusts and similar proceeds 830,995
830,995
Gift aid reclaimed 22
22
Total for 2020
831,017
831,017
Total for 2019
841,790
841,790

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

4 Income from charitable activities

4 Income from charitable activities
Unrestricted
funds Total
General funds
£ £
Work experience services 61,937 61,937
Total for 2020 61,937 61,937
5 Investment income
5
Investment income
Unrestricted
funds Total
General funds
£ £
Interest receivable and similar income;
Interest receivable on bank deposits 428 428
Total for 2020 428 428
Total for 2019 312 312

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

6 Expenditure on charitable activities

6
Expenditure on charitable activities
Unrestricted
funds
Total
General
funds
Note £
£
Allocated support costs 691,460
691,460
Governance costs
7		 24,840
24,840
Total for 2020
716,300
716,300
Total for 2019
458,812
458,812

In addition to the expenditure analysed above, there are also governance costs of £24,840 (2019 - £33,378) which relate directly to charitable activities. See note 7 for further details.

7 Analysis of governance and support costs

Governance costs

Governance costs
Unrestricted
funds
Total
General
funds
£
£
Legal fees 16,073
16,073
Othergovernance costs 8,767
8,767
Total for 2020
24,840
24,840
Total for 2019
33,378
33,378

8 Taxation

The charity is a registered charity and exempt from taxation.

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

9
Debtors		 9
Debtors
2020
£
Trade debtors
6,000
Prepayments
6,930
Other debtors
1,063
13,993
10
Cash and cash equivalents
2020
2019
£
£
Cash at bank
559,696
484,240
11
Creditors: amounts falling due within one year
2020
2019
£
£ (As restated)
Other taxation and social security
20,543
7,257
VAT grant repayable
(5,177)
(10,088)
Other creditors
307
10,999
15,673
8,168
12
Creditors: amounts falling due after one year
2020
2019
£
£
Other creditors 7,029
3,342
13
Funds
Balance at 1
September
Incoming
Resources
Balance at 31
2019
resources
expended
August 2020
£
£

£

£
Unrestricted funds
General
472,730
893,382
(815,125)
550,987
Balance at 1
September
Incoming
Resources
Balance at 31
2018
resources
expended
August 2019
£
£

£

£
Unrestricted funds
General
89,440
842,102
(458,812)
472,730

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Speakers for Schools

Notes to the Financial Statements for the Year Ended 31 August 2020

14 Analysis of net assets between funds

14
Analysis of net assets between funds
Unrestricted Total funds at
funds 31 August
General 2020
£ £
Current assets 573,689 573,689
Current liabilities (15,673) (15,673)
Creditors over 1year (7,029) (7,029)
Total net assets 550,987 550,987
Unrestricted Total funds at
funds 31 August
General 2019
£ £ (As restated)
Current assets 484,240 484,240
Current liabilities (8,168) (8,168)
Creditors over 1year (3,342) (3,342)
Total net assets 472,730 472,730

15 Analysis of net funds

At 1 September
Financing cash
At 31 August
2019
flows
2020
£
£
£
Cash at bank and in hand 484,239
75,468
559,707
Net debt
484,239
75,468
559,707
At 1 September
Financing cash
At 31 August
2018
flows
2019
£
£
£
Cash at bank and in hand 84,864
399,375
484,239
Net debt
84,864
399,375
484,239

16 Related party transactions

There were no related party transactions in the year.

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Speakers for Schools

Statement of Financial Activities by fund for the Year Ended 31 August 2020

Unrestricted Funds

Unrestricted Funds
Total
Total
Unrestricted
Unrestricted
Funds
Funds
2020
2019
£
£
Income and Endowments from:
Donations and legacies 831,017
841,790
Charitable activities 61,937
-
Investment income 428
312
Total income
893,382
842,102
Expenditure on:
Charitable activities (815,125)
(458,812)
Total expenditure
(815,125)
(458,812)
Net income
78,257
383,290
Net movement in funds
78,257
383,290
Reconciliation of funds
Total funds brought forward
472,730
89,440
Total funds carried forward
550,987
472,730

This page does not form part of the statutory financial statements. Page 20

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Speakers for Schools

Detailed Statement of Financial Activities for the Year Ended 31 August 2020

Total
Total
2020
2019
£
£ (As restated)
Income and Endowments from:
Donations and legacies (analysed below) 831,017
841,790
Charitable activities (analysed below) 61,937
-
Investment income(analysed below) 428
312
Total income
893,382
842,102
Expenditure on:
Charitable activities(analysed below) (815,125)
(458,812)
Total expenditure
(815,125)
(458,812)
Net income
78,257
383,290
Net movement in funds
78,257
383,290
Reconciliation of funds
Total funds brought forward
472,730
89,440
Total funds carried forward
550,987
472,730

This page does not form part of the statutory financial statements. Page 21

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Speakers for Schools

Detailed Statement of Financial Activities for the Year Ended 31 August 2020

Total
Total
2020
2019
£
£
Donations and legacies
Appeals and donations 830,995
841,790
Gift Aid tax reclaimed 22
-
831,017
841,790
Charitable activities
Primary purpose trading 61,937
-
61,937
-
Investment income
Interest on cash deposits 428
312
428
312
Charitable activities
Publicity costs -
(1,374)
Exceptional costs (101,606)
(14,000)
Rent (54,616)
(70,615)
Promotional expenses (3,393)
(849)
Wages and salaries (520,700)
(282,965)
Staff NIC (Employers) (52,722)
(26,510)
Staff pensions (Defined contribution) - pension scheme 1 (9,654)
(5,169)
Staff training (800)
-
Travelling (8,487)
(1,273)
Rates (200)
(1,185)
Insurance (1,825)
(879)
Telephone and fax (2,257)
(1,769)
Office expenses (1,780)
(2,580)
Computer software and maintenance costs (25,968)
(12,693)
Printing, postage and stationery (3,896)
(1,791)
Trade subscriptions (754)
(404)
Sundry expenses (489)
(992)
Travel and subsistence (900)
(309)
Bank charges (238)
(77)
Consultancy fees (7,918)
(19,070)
Legal and professional fees (8,155)
(9,009)
Accountancyfees (8,767)
(5,299)
(815,125)
(458,812)

This page does not form part of the statutory financial statements. Page 22