## **Trustees’ Annual Report for the period** ## **From 01/01/2022 Period start date To 31/12/2022 Period end date** ## **Charity name: Read Academy Education** ## **Charity registration number:1156203** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**Primary and Secondary School**
**Education**| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|**Primary and Secondary School**
**Education**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**All trustees have regard to the guidance**
**issued by the Charity Commission on**
**public benefit and have ensured it is**
**enforced by providing an setting to**
**benefit the public.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other ## **Achievements and Performance** SORP reference Summary of the main Para 1.20 achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. **Additional information (optional)** You may choose to include further statements where relevant about: |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |||| |Achievements against
objectives set|Para 1.41|| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**Reserves are held to enable the school**
**to function**| |Amount of reserves held|Para 1.22|| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|| |**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|**Students Fees**| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|**Articles of association**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Company. The company number**
**registered with Companies House is**
**08813632**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Elected by Trustees**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |||| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|| |Relationship with any related
parties|Para 1.51|| |Other||| ## **Reference and Administrative details** **----- Start of picture text -----**
Charity name Read Academy Education
Other name the charity uses N/a
Registered charity number 1156203
Charity’s principal address 98 Park Avenue
Barking
Essex
IG11 8QX
**----- End of picture text -----**
**Names of the charity trustees who manage the charity** **----- Start of picture text -----**
Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
Gulam Abbas
1
Hussain
Amran Hussain
2
Ruhel
Ihsaan Ahmad
3
Rafiq
4 Sami Shaikh
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
## – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser** **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**|| |---|---| ||Mr Gulam Abbas Hussain| ||
Chair| ||28/01/2024| ||28/01/2024| Registered numbèr 08813632 Read Academy Education Report and Accounts 31 December 2022 Réad Academy Education Registered nUm￿r. Dlr•ctorf8 R•port 08813632 The Director presents his rewt and accounts for the yer ended 31 December 2022 Prlnclpal actlvltles The company's pn'ncipal activty during the year contrnL￿d to be prowding educational 5ervice¥. Dlrnctorn The following Fersons seNed as directors during the Y￿r. GuLam Hussain Ihsaan Rafiq Arnran Ruhel Sami Shaikh Small company provhlon• This report has been prepared in aceordance wth the provisions in Part 1 S of the Companies A¢t 2006 8ppli¢able lo ¢omp8nies subject to the small ¢ompan*s wime. This report was approved by the b)ard on 261h September 2022 and signed on rts behall Gulam Hussain Director Read Audemy Edu¢ation Profit and Log$ Account for th• y•4r •nd•d 31 D•¢omb•r 2022 1022 2021 Turnover 997,209 9C6,951 Gross Pro 997,209 Adminkqtrative expenses 921,1081 1755,0331 Opratlng profit 76,101 151.918 Interest receivab Interest payable Profft b•for• l•xaxtlon 76,101 151,918 Tax on profit Profft for th• financl•l yur 76,101 151,918 R•*d Ac¥d•ffly Educ•llon R•gIStor￿ nUM￿r. Balance Sheet a8 at 31 O•C•m￿r 2022 08813632 2022 2021 Flx•d as••ts Intangible assets Tangible assets Inve8lments 31.457 31.457 Curr•nt •M•ts Stocks Debtors Cash •t bank ond in h• 461,788 461,788 421.364 421,364 Creditorn.. amounts f*lling d wlthln on• y•ar 15.132) {36,7361 Not ¢urrMt •••ets 361,628 Totsl a￿•ts l•M curr•rrt 488,113 417,234 Cr•dltors'. amounts f•lllng du• ¥ftgr moro th•n one year (16.8341 122,056) Provl•loM for Il•bllltl•• N•t a•Mt• 471.279 395,178 Capltal •nd ru•rv•o Called up Sha￿ caprtal Share premium Profil and1088 ac£4xmi 471.229 395,128 Sh•r•hold•¢• lund• 471.279 395.178 Thè ¢Jiièctor i£ SO￿.$fied that th¢ o)mpony is enbllod to •x•mpMI from Ihg r¢quire￿Al to oblain an audlt und8r sectiC￿ 477 ofth• Companies Ad 2CiX. The member has ncl ￿￿lre￿ the C￿panY to obtain On aLK&I in acc4)rdAnce 476 of th¥ Act. The direclor ackno%￿d9e￿ his ￿$[￿l$ll￿.11lles ft>r coM￿y1n9 wilh the w¢J1￿ments of the Compani•$ Act 20(￿ with r*$[¢￿ tts a¢¢ounting reoyds and th¢ prtspar8tr)n of 8c£ounts. The accounts have been W•pa￿ and dets￿red in TLcordanc• with lh• sp8ts81 provision$ applicable Io cornpan￿ subject to the small ￿MpanIeS regime. The profft and 1088 Sca￿nI has not been delNered to Ihe Registraf of COmpanK￿. GuL•m Huswn Dir•¢lor Rèad Academy Educatlon Notes to tho Accounts for th• y•ar •nd•d 31 D•c•mb•r 2022 1 Accounllng polScl•s Basls of preporntlon The a￿o￿nts have been prepared under the historical cost convention and in accordance FRS 102, The Financwl Reporting Stsndard applicab￿ in the UK and Republic of IreLgnd {as appli￿ to smo11 entits.es by section 1A of the stsnd8rdl. Tumovor Turnover is measured at the fair value of the consderation rece￿3 crf weNable, net of discounts and value added tsxes. Tumovei inclLKles ￿venUe earned from the sale of goods and from the rendering of Serv￿$. Turnover from the sale of gc*)ds is recognised when the signffjicant risks and rewards of ownership of the gocrtls have transferred to the buyer. Tumover from the rendering of serv￿e3 is rec¢gnised by reference to the stage of compktson of the eontracL The stsge of ¢ompletion of a contract is measured by comparing the costs incurred for work performed to date to the lotsl estimated contract costs. Int•nglble flx8d 88s•ts Intangible fixed assets are measured at cost less xcumuW"ve amortisation and any ￿uMulatIve impairment losses. T8nqlbl• flx•d assets Tangible fixed assets a￿ measured at ¢ost less w￿rnU￿tiVe deprerya1￿n and any accumul8bv8 impairment losses. Depreeiation is provthd on all tangible fixed assets, other than frèehold land, at fates calculated to wrrte off the cosL I￿ eth"maled residual value. of each asset evenly over its exFected useful lrfe, as foll¢)w5'. Freehold buildings Leasehold land and bU1￿1n9S Plant and machinery Fixtures, frtb'ngs. tools and equIw￿nt over 50 ygars over the lease term over 5 years over 5 years Inv•stm9nts Investsments in Subsidiaries. assoGiales and joint ventures are measured al cost less any accumulated impairn￿nt l¢)sses. Lisl&J inve¥trnents are measured al fair value. Unlisted investments are measured al fair value unless the value cannot be measured reliably, in whKh case they are measured al cost less eny accumulabj impairment losses. Changes in fair value are included in the profil and k)ss account. Stocks Slocks ar¢ measured at the kn¥er of cost and 8s*"mated selling prKe less costs to complete and sell. Cost Is determined using the first in first out melhcvJ. The Car￿.n9 amount of Stock sold is recc*Jnised as an expense in the Fened in the related revenue is recognised. Debtors Short term debtors are measLtred at transacts.on price (which ts usually the invoice pricel, less any impairment h)sses for bad and doubtful debts. Loans and other financial assets are inrtialty recognised at transaction price including any transaction costs and subsequentty measured al amortised cost detemined using the effective interest method, less any impairment10s5es for bad and doubtlul debts. Road Academy Educatlon Notes to the Accounts for tha y•ar ended 31 Docomber 2022 Crgdftorn Short tem credttiirs are measured 8t tranSac￿n price {which is usually the invoice pricel. Loans and other financial Ikabilit'es are ini1181ty recc*Jnised al Iransacts'on price nel of any transaction costs and subsequenlly measured at amortised cost delem)ined using the effectwe interest method. Taxatlon A eurrent tax liability is rgcognised for the tax payable on the taxable profit of the current and past periods. A current tax a$5et 15 re¢c£nised in respect of a tax loss that tan te carried back lo recover tax paKI in a previou5 period. Deferred lax is recognised In respect of all b.ming differences befvlegn the rewgnition of income and exFenses in the financial statements and their indusion in tsx assessments. Unrel￿ved tsx losses and other deferred tax assets a￿ rLYd&Jnised only lo the extent that il is probable that they ￿11 be recovered against the reversal of deferred tax liabilities or other futUTe taxab* profits. Deferred tax 1$ measured using the tax rates and laws that have been enacted or 5ubstanbvety enacted by the reporting date afHI that are expected lo appty to the reversal of the liming difference. except for revalued land and investment pfopety where the tax rate that applies to the Sa￿ of the asset is used. Current and deferred tax assets liabilrties are not discounted. Pmvlslons Provis￿nS lie liabilrties of uncertain timing or amount) are recognised when there is an obligation al the ￿porting date as a result of a past event. it 15 Probab￿ that economic benefit will be Ir8nsferred to settle the obligalKJn and the amounl of the otA￿at￿n can be esbmatsd reliably Forglgn currency trnnslatlon Transactions in foreign Currenc￿ are initially recognised at the rate of exchange ruling al the date of the transaction. At the end of each rewrb.ng period foreign currency monetary items are translated al the closing rale of exchange. Non-mC￿etary items that are measured at historical cost are translated al the rate rulin9 al the dale of the transaction. Al differences are charged to profil or loss. Leasod ￿Sets A lease 15 classified as a finance lease if rt transfefs substantslly all the risks and rewards incidental to ownefship. All olher leases are classffied as operating leases The righ15 of use and obligab'ons under finance kases are inrtialty recognised as assets and liabiliti.es at amounts equal to the fair value of the leased assets or, rf hjwer, the p￿sent value of the minimum lease payments. Minimum lease payments are apportioned bett￿n the finance charge and the reduclK)n in the outstanding liabilty using the effective interest rate method. The finano charge 1$ allwated lo each per￿ during the lease so as to PfC4Juce a constsnl per•)dic rale of Inte￿St on the remaining balance of the l￿bIlIty. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets If there 1$ no reasonab￿ certainty that ownership will be obtained al the end of the lease tem, the asset is depreciated over the lower of the ￿aSe lem and its useful life. Operating ￿se payments are recognised as an expense on a straighl line basis over th8 ￿ase term. Penslons contribub.ons to defined contributK)n plans are expensed in the penod to which they relate. 2 Employ• 2022 2021 Road Academy Educatlon Notes to the Accounts for the y￿r endod 31 Docomber 2022 NuM￿r Number Average numb8T of persons employed by the company 15 14 3 Tanglbl• flx•d 4880ts Pl#nt and m•chlnery Land and bulkllng• Motor v•hlclo8 Total Co•t At 1 January 2021 Addition5 Surplus on revaluation Disposals At 31 December 2021 9.900 633 22,7C 32,606 633 10.533 22,7 33,239 D•pr•clallon Al 1 January 2021 Charge for the year Surplus on r8valuation On disposals Al 31 December 2021 1.782 1,782 1,782 1.782 N•t book valu• Al 31 December 2021 8.751 22,7C6 31.457 Al 31 De￿rnber 2020 9,900 22,7C6 32,606 Freehold L8nd and t￿ildIngS.. 2022 2021 Historical cost Cumulative depreciatKJn base(l on historical cost IFor revalued assets, stale the years in whth the assets were valued and their values For assets revalued during the reporting Ferifyl. state the narnes of the ￿rSon$ who revalued them or particulars of their qualffieatwjns for doing so and the bases of valuation uséd by them.] 4 D•btorn 2022 2021 Trade debtors Other deblo Read Académy Educatlon Notes to the Accounts for tho year onded 31 Decombor 2022 Amounts due after more than one year indud*J al)ove 6 Credltorn: amounts f•lllDg du• wlthln on• y•ar 2022 2021 TaxatK)n and 8ocial seujnty c4)8ts Other creditors 3,952 1,180 5,132 4,713 32,023 36,736 6 CrndStorn: amounts f•lllng du• aft•r on• y•ar 2021 Obligalions under finance lease and hire wr¢ha8e contrx Trade creditors Other credrtors 16,834 22,056 16,834 22,058 7 Other Infommtlon Read Acad•my Educab"on is a registorod ¢hanty pn)vklmg wJu¢ational seThices and 1$ a private company limited by shares and ineorwated in England. Read Acadèmy Education Detailed profit and loss account for tho year onded 31 Do¢embor 2022 This sGhedule does not tomipart ol the statutory 8¢xounts 2022 2021 Sal 997,209 9C6,951 Gro￿ profft 997,209 9C6.951 Adminislratbve expenses 1921.1081 1755.033} Oporatlng profft 76.101 151.918 Interest receivable Interost payable Profft boforo tax 76,101 151,918 Read Academy Educatlon Detslled profit and loss account for thè yoar ended 31 Dgcgfflbor 2022 This schedule does not form part oflhe st81utory aL¥￿Unts 2022 2021 Sales Sales 997.209 997,209 906.951 906,951 Admlnl•tratlv• oxp•n• Employee costs. Wages and salaries DiTectors' 5alarios Pensions Bonuses Employerfs Nl Temporary staff and recrulbnent Stsff training and welfare Travel and sub5iStence Motor expenses Entertaining 381,999 337,174 19,541 17,398 19,669 20.989 332 18,814 17 28.675 440,355 404.253 Premises costs.. Rent Rates Service chafges Luhl and heal Cleaning Use ol home 295,025 228,3C6 617 26.325 1.523 17,536 783 324,337 247,242 General administrative exFenses'. Telephone and intemet Postage Stationery and printing Donations Activities 3,949 38.497 237 35.658 24.129 731 15.237 1.676 38,472 10,952 16.262 8C6 9,625 1,789 Bank charges Insurance CRB Checks Equipment hire Training Repairs and maintenan¢ Depreciation Am0￿'SaI￿1 of gc¢4ts11 Bad debts Sundry expenses 432 29.746 1,043 14,030 1.748 151.435 4,310 101,238 Legal and professional Costs.. Other legal and profess￿781 4,981 4.981 2,300 2,300 921,108 755,033 CHARITY (OMMISSION I FOR ENGIANO AND WALES Independent examinerfs report on the accounts Se¢lion A Independent Examinevs Reporl Report to the trugtM$ Read Academy Education On accounts for the year ended 31112122 Charfty no (if any) 1156203 S•t out on pag I report to the trustees on my examinati¢Jn of the accounts of the above charity {"the Trust") for the year ended Rg•pon8lblllllM and bas18 of report A$ the charity's trustees. you are responsible for the preparation of the accounts in accordance wrth the requirements of the Charities Act 2011 (Xhe Act-). I report in respect of my examination of the Trust's accounts camed out under seclion 145 of the 2011 Act and in carying out my examination. I have followed all the applicable DIre￿lonS given by the Chanly Cornmission under section 145(5){b) of the Act. Independent charity's gross income exceeded £250,000 and l am qualffied to oxaminor's statement undertake the examination by being a qualified member of lins8rt name of applicable listed bodyl]. Delet81 l rfnot 8ppIic8ble. I have completed my examination. I confirni that no material matters have come to my attention in connection vnth the examination (other than that disclosed below ") which gives me cause to believe that in, any material spect.. the accounting records I￿re not kept in aGcordance with section 130 of the Charities Act: or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirément that the accounts give a Irue and fairf view which is not a matter consKlered as part of an irKlependent examination. I have no concems and have come auoss no other mattèrs in connection with the examination to vthich attention should be drawn in this report in order to enab￿ a proFer understanding of the accounls to be reached. . Please d816t6 th8 w0￿S in the brackets rfthey do nol ap￿. Slgnod: O•t•: 29101124 Nam•: David Beattie Relevant profeg8lonal qualificallon{sl or body IER Oct 2018 (If anyl: Address: 39 Mendip Avenue Eastbourne Kent DN23 8HP Section B Disclosure Only complete If the examiner needs to highlight material matters of concern 188e CC32, Independent examination of Charty a¢counts.' directions and guidance for examiners). Give here brief detslls ol any items that Iho oxamlnor wl8ho8 to dlscloso. IER Oct 2018