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REGISTERED IN ENGLAND REGISTERED CHARITY NO 1178099
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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
Clenshaw Minns Ltd Chartered Accountants
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INFORMATION FOR THE YEAR ENDED 31 AUGUST 2021
| Trustees | Mr D R Levin (Chair) |
|---|---|
| Mr D Peltz OBE | |
| Mrs E Rayden | |
| Dame M Richardson | |
| Charity number | 1178099 |
| Principal office | 2 De Walden Court |
| 85 New Cavendish Street | |
| London | |
| W1W 6XD | |
| Accountants | Clenshaw Minns Ltd |
| Chartered Accountants | |
| Norfolk House | |
| 24 Market Place | |
| Swaffham | |
| Norfolk | |
| PE37 7QH |
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CONTENTS
| Page | |
|---|---|
| Trustees’ annual report | 1-2 |
| Independent examiner’s report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees present their report and financial statements as a charitable incorporated organisation (CIO) for the year ended 31 August 2021.
OBJECTIVES AND ACTIVITIES
Aims & Objectives
The objects of the Charity are, for the public benefit, to advance the education of pupils under the age of 19 enrolled in Academy schools run by the Ark Multi Academy Trust in such ways as the Charity Trustees think fit.
Main activities for achieving objectives
The Trust carries out these objects by:
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Offering intensive small group tuition to pupils in years 10-13 designated by Ark
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schools as having ‘high pre-assessed ability’ to achieve outstanding GCSE and A Level results, with a view to gaining admission to elite and prestigious Universities in the United Kingdom and United States;
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Awarding to such person’s scholarships, maintenance allowances or grants tenable
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at any University, College or Institution of Higher of Further Education
ACHIEVEMENTS AND PERFORMANCE
The 2020/2021 year was adversely affected by the Pandemic.
Tuition was interrupted and virtual learning was difficult given the accommodation of the pupils. Furthermore, the pupils have been disadvantaged by not sitting GCSE Public Examinations.
However, the charity raised enough money in October and November to expand the programme to 14 pupils with 5 attending ARK Globe and 9 City of London Academy (Southwark)-COLAS- based in Bermondsey.
Tuition via teachers employed by 'Enjoy Education' commenced in January 2021 at COLA-S and March 2021 at ARK Globe and has operated fairly smoothly despite the lockdowns.
No physical residential exchanges could take place at Canford but a virtual one-day conference was held in June 2021 advising on preparing UCAS applications, interview technique and "emerging careers". This was attended by all 14 TTT pupils and was adjudged both helpful and very successful.
Despite all the interruptions morale is high and tutors are hopeful that the A Levels will be successful when sat in June 2022
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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2021
FINANCIAL REVIEW AND GOING CONCERN
The results for the year were in line with the Trustees expectations.
The Trustees have carefully considered all available information about the effect of the Covid-19 pandemic on the finances and operations of the company for 12 months from the time of approving these financial statements. In particular they have had regard to information from forecasts for income, expenditure and cash-flow, including the availability of unrestricted funds and reserves.
PLANS FOR THE FUTURE
The Charity plans to continue its activities for the foreseeable future.
DECLARATION
The Trustees declare that they have approved the above trustees’ report.
Signed on behalf of the charity’s trustees:
| Signature Full name Position (e.g. Secretary, Chair, etc) Date |
|
|---|---|
| David Levin | |
| Yg | |
| 14-02-2022 |
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2021 which are set out on pages 4 to 8.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation 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 Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
……………………….. Date ………………
Gavin Minns F.C.A
Clenshaw Minns Ltd Norfolk House 24 Market Place Swaffham PE37 7QH
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | funds | funds | ||
| funds | 2021 | 2020 | ||
| Notes | £ | £ | £ | |
| Incoming resources | ||||
| Income from: | ||||
| Donations received | 1 | 41,240 | 41,240 | 17,138 |
| _ | _ | _ | ||
| Total incoming resources | 41,240 | 41,240 | 17.138 | |
| _ | _ | _ | ||
| Resources expended | ||||
| Direct charitable expenditure | 2 | 8,648 | 8,648 | 23,517 |
| Charity funds research | - | - | 1,260 | |
| Conference costs | - | - | - | |
| Accountancy | 288 | 288 | 602 | |
| _ | _ | _ | ||
| Total resources expended | 5 | 8,936 | 8,936 | 25,379 |
| _ | _ | _ | ||
| Net income/(expenditure) | 32,304 | 32,304 | (8,241) | |
| ______ | _ | _ | ||
| Net movement in funds | 32,304 | 32,304 | (8,241) | |
| Total funds brought forward | (5,549) | (5,549) | 2,692 | |
| _____ | ______ | ______ | ||
| Total funds carried forward | 26,755 | 26,755 | (5,549) | |
| ===== | ===== | ===== |
The Charity had no recognised gains or losses other than the above income for the financial year ended 31 August 2021.
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BALANCE SHEET AS AT 31 AUGUST 2021
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | funds | funds | ||
| funds | 2021 | 2020 | ||
| Notes | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 3 | 27,043 | 27,043 | 17,860 |
| Debtors | 4 | - | - | - |
| _ | ______ | ______ | ||
| 27,043 | 27,043 | 17,860 | ||
| Creditors: amounts falling | ||||
| due within one year | 5 | 288 | 288 | 23,409 |
| ______ | _____ | _____ | ||
| Net current assets | 26,755 | 26,755 | (5,549) | |
| ______ | ______ | _____ | ||
| Total assets less current liabilities | 26,755 | 26,755 | (5,549) | |
| Total net assets | 26,755 | 26,755 | (5,549) | |
| ===== | ===== | ===== | ||
| Total charity funds | ||||
| Unrestricted funds | 6 | 26,755 | 26,755 | (5,549) |
| ===== | ===== | ===== |
14-02-2022 The financial statements were approved by the Trustees on ……………………………………… and are signed on its behalf by:
Trustee …………………………………….
The notes on pages 6 to 8 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on the 16 July 2014 and with the Charites Act 2011.
1.2 Accounting policies
The accounts present a true and fair view and the accounting policies adopted are those outlined in note (1.1).
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Income Tax recoverable in relation to donations received under Gift Aid or Deeds of Covenant is recognised at the time of the donation.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| 2. | Income | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Donations | 41,000 | 16,650 | |
| Gift aid reclaimed | 240 | 488 | |
| _____ | _____ | ||
| 41,240 | 17,138 | ||
| ===== | ===== | ||
| 3. | Charitable Expenditure | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Direct Costs | |||
| Tuition costs | 8,648 | 23,121 | |
| Website costs | - | 272 | |
| Travel costs | - | 124 | |
| ______ | _____ | ||
| 8,648 | 23,517 | ||
| ====== | ====== | ||
| 4. | Cash at bank and in hand | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Current account | 27,043 | 17,860 | |
| ===== | ===== | ||
| 5. | Debtors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Donations | - | - | |
| ===== | ===== |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
6. Creditors: amounts falling due within one year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals | 288 | 288 | |
| Tuition costs | - | 23,121 | |
| _____ | _____ | ||
| 288 | 23,409 | ||
| ===== | ===== | ||
| 7. | Charity funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Opening funds | (5,549) | 2,692 | |
| Net movement in funds for the period | 32,304 | (8,241) | |
| _____ | _____ | ||
| Closing funds | 26,755 | (5,549) | |
| ===== | ===== |
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