MD Educational Foundation Charity Number: 1169208
{For Charitable Incorporated Organisation}
Trustees' Annual Report and Financial Statements for the Period 1 April 2021 to 31 March 2022
Page 1 of 8
MD Educational Foundation Trustees' Annual Report for the Period Ended 31[st] March 2022
Reference & Administration Details
Charity name: MD Educational Foundation
Charity number: 1169208
Charity's operating address: Dykes, Henfield Common North, Henfield West Sussex BN5 9RL
Names of the Charity Trustees who Manage the Charity (Add extra rows as required)
Trustee Name Office (if any) Appointed Retired 1: Miriam Dervan 15/09/16 2: Tarquin Scadding-Hunt 15/09/16 3: Shaun Barton 15/09/16
If any trustee is appointed by an external person or organisation (e.g.: the local Council) a note of that should be included.
Names & Addresses of Advisors (Delete rows which are not relevant)
Name Address & Postcode Bank: Barclays Barclays, Leicester LE87 2BB
Structure, Governance & Management
Description of the Charity's Trusts
Type of Governing Document: Constitution
How the Charity is Constituted: Charitable Incorporated Organisation
Trustee Selection Methods: Trustees are appointed by a resolution passed at a properly convened meeting of the Charity Trustees
How New Trustees are Inducted New trustees are given a copy of the constitution and a copy of the and Trained: latest Trustees’ Annual report and Statement of Accounts. They are also advised of the foundation’s activities.
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MD Educational Foundation
Trustees' Annual Report for the Period Ended 31[st] March 2022
Objectives & Activities
Summary of the Objects of the Charity as set out in its Governing Document
The objectives of the charity are the advancement of education by provision of grants to young people requiring training and development (including but not limited to) educational courses and work experience
Summary of the Main Activities Undertaken for the Public Benefit in Relation to the Charity's Objects
The Charity’s key aims are to assist the educational development of young people encouraging them to find and consider the opportunities available to them including, but not limited, to self-employment and business start- up.
The foundation aims to provide free advice, training, work experience and support to enable young people to contribute and participate in the 21[st] century economy
Achievements & Performance
Statutory Declaration
We, the trustees, declare that we have complied with our duty to have due regard to the guidance on public benefit published by the Charities Commission in exercising our powers or duties.
Summary of the Main Achievements of the Charity for the Year
We have continued to assist the educational development of young people encouraging them to find and consider the opportunities available to them including, but not limited, to self-employment and business start- up.
Financial Review
Brief Statement of the Charity's Policy on Reserves
The foundation does not have a policy on reserves. At the end of the year there was a cash surplus of £5,310.
Page 3 of 8
MD Educational Foundation
Trustees' Annual Report for the Period Ended 31[st] March 2022
Statutory Notes to the Accounts
Particulars of Any Outstanding Guarantee Given by the CIO
There are no potential liabilities nor guarantees outstanding as at the date of the statement of assets and liabilities.
Particulars of Any Outstanding Debt
There is no outstanding debt as at the date of the statement of assets and liabilities.
Declaration
The Trustees declare that they have approved the Trustees' Report above.
Signed on behalf of the Charity's Trustees
Signature(s): Full Name(s): Tarquin Scadding-Hunt Miriam Dervan Position(s): Trustee Trustee Date: 11th January 2023 11th January 2023
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| MD Educational Foundation | 1169208 | CC16a | |||||||
| Receipts andpayments accounts | |||||||||
| For the period from |
01/04/2021 | To | 31/03/2022 | ||||||
| Section A Receipts and payments | |||||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||
| to the nearest £ |
to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| Donations | 169,013 | - | - | 169,013 | 10,620 | ||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| Sub total (Gross income for AR) | 169,013 | - | - | 169,013 | 10,620 | ||||
| A2 Asset and investment sales, (see table). |
|||||||||
| - | - | - | - | ||||||
| - | - | - | - | - | |||||
| Sub total | - | - | - | - | - | ||||
| **Total receipts ** | 169,013 | - | - | 169,013 | 10,620 | ||||
| A3 Payments | |||||||||
| MarketingCosts | 26,020 | - | - | 26,020 | 10,620 | ||||
| Bank Charges | - | - | 2 | ||||||
| Legal Costs | **5,492 ** | - | - | **5,492 ** | - | ||||
Bohunt Educational Trust-Steyning Grammar |
50,000 | 50,000 | - | ||||||
Gym Equipment-Steyning Grammar School |
**5,694 ** | **5,694 ** | |||||||
Employee Salary |
**21,292 ** | **21,292 ** | |||||||
Travel & TrainingReimbursement |
515 | - | - | 515 | - | ||||
| **Sub total ** | 109,013 | - | - | 109,013 | 10,622 | ||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| Investment, Mind, Body Goals | 60,000 | - | - | 60,000 | |||||
| - | - | - | - | ||||||
| **Sub total ** | 60,000 | - | - | 60,000 | - | ||||
| **Totalpayments ** | 169,013 | - | - | 169,013 | 10,622 | ||||
| Net of receipts/(payments) | - | - | - | - | - 2 | ||||
| A5 Transfers between funds | - | - | - | - | - | ||||
| A6 Cash funds lastyear end | 5,310 | - | - | 5,310 | 5,312 | ||||
| Cash funds thisyear end | 5,310 | - | - | 5,310 | 5,310 |
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Section B Statement of assets and liabilities at the end of the period
| Categories | Details | Details | Details | Unrestricted funds |
Restricted funds |
Endowment funds |
|||
|---|---|---|---|---|---|---|---|---|---|
| to nearest £ | to nearest £ | to nearest £ | |||||||
| B1 Cash funds | Bank Account | 5,310 | - | - | |||||
| - | - | - | |||||||
| - | - | - | |||||||
| Total cash funds | 5,310 | - | - | ||||||
| (agree balances with receipts and payments account(s)) |
OK | OK | |||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
|||||||
| Details | to nearest £ | to nearest £ | to nearest £ | ||||||
| B2 Other monetary assets | - | - | - | ||||||
| - | - | - | |||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||||
| B3 Investment assets | Investment, Mind, Body Goals | Unrestricted |
60,000 | - | |||||
| - | - | ||||||||
| - | - | ||||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||||
| B4 Assets retained for the charity’s own use |
- | - | |||||||
| - | - | ||||||||
| - | - | ||||||||
| Details | Fund to which liability relates |
Amount due (optional) |
When due (optional) |
||||||
| B5 Liabilities | - | ||||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval |
||||||
| Tarquin Scadding-Hunt | 11/01/2023 | ||||||||
| Miriam Dervan | 11/01/2023 | ||||||||
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| MD Educational Foundation | 1169208 | CC16a | |||||||
| Receipts andpayments accounts | |||||||||
| For the period from |
01/04/2020 | To | 31/03/2021 | ||||||
| Section A Receipts and payments | |||||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||
| to the nearest £ |
to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| Donations | 10,620 | - | - | 10,620 | 1,684 | ||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| Sub total(Gross income for AR) |
10,620 | - | - | 10,620 | 1,684 | ||||
| A2 Asset and investment sales, (see table). |
|||||||||
| - | - | - | - | ||||||
| - | - | - | - | - | |||||
| Sub total | - | - | - | - | - | ||||
| **Total receipts ** | 10,620 | - | - | 10,620 | 1,684 | ||||
| A3 Payments | |||||||||
| MarketingCosts | 10,620 | - | - | 10,620 | - | ||||
| Bank Charges | 2 | - | - | 2 | - | ||||
Steyning Grammar School |
- | 1,674 | |||||||
| - | |||||||||
| - | - | - | - | - | |||||
| **Sub total ** | 10,622 | - | - | 10,622 | 1,674 | ||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| - | - | - | - | ||||||
| - | - | - | - | ||||||
| **Sub total ** | - | - | - | - | - | ||||
| **Totalpayments ** | 10,622 | - | - | 10,622 | 1,674 | ||||
| Net of receipts/(payments) | - 2 | - | - |
- 2 | 10 | ||||
| A5 Transfers between funds | - | - | - | - | - | ||||
| A6 Cash funds lastyear end | 5,312 | - | - | 5,312 | 5,302 | ||||
| Cash funds thisyear end | 5,310 | - | - |
5,310 | 5,312 |
Page 7 of 8
Section B Statement of assets and liabilities at the end of the period UnTrstrKt8d funds to nearest£ RastrictEd fu1$ to neare5t£ EndowrTEnt to nearest £ B1 Cash funds BankAccount 5,310 Total cash funds 6,310 (S[eCe1w8ad paents s(court15JL_ Unrestrted lunds to n•ar•st£ Restn"c fu1$ to n•ar•st£ ils to n•ar•st £ 82 Other monetary assets Fund to whi 455et b Current v4lue D•tslls Cost (OP0all B3 Investment assets Fund to which Sset blts Detalis Cost (OP0all Current value B4 Assets retained for the charity's own use Fund to whleh r•lat05 Amount du Wh*n du• Detai 85 Liabilities SutEd by one or two trustees on behatr ol all trustees SignatLX Prfnt Namè Data of roval Tarquin addi-Fknr 2110112022 Mirklm Dervan 2110112022 Puge8of 8
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name MD Educational Foundation members of On accounts for the year 31 March 2022 Charity no 1169208 ended (if any) Set out on pages 1 to 6 (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 / 03 / 2022 .
Responsibilities and As the charity trustees of the charity, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Signed: Date: 11/01/2023 Name: David Forinton Relevant professional FCA (ICAEW) qualification(s) or body (if any): Address: The Courtyard, High Street, Ascot, Berkshire, SL5 7HP
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
October 2018
1
IER
Give here brief details of any items that the examiner wishes to disclose .
October 2018
2
IER