2020-08-31-accounts

Trustees’ Annual Report & Financial Statements for the 12 months ended 31 Au ust 2020 g

Registered Charity No. 1179436 www.villierspark.org.uk A company limited by guarantee – company number 11443649

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Roisin McCormack,
Alumna
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If you’re from a low-income background or are the first in your family to go to university, having strong aspirations will only take you so far. I hope this doesn’t sound too cynical, but aspirations don’t fund unpaid internships in the capital, offer sage pieces of career advice or provide those all-important contacts to help facilitate job hunts. There are a plethora of cultural, financial and social barriers that prevent people from disadvantaged backgrounds from fulfilling their aspirations – more so now than ever.

This is where Villiers Park is an outlier. It aims to grow knowledge and skills through, for instance, private tours of the University of Cambridge and subject-specific residentials. Crucially, it works to remove barriers: it was the practical help I received, through hands-on mentoring, revision workshops, funded trips to university open days and kindly donated UCAS fees, that helped me navigate my way to university. Villiers Park’s continued support and genuine desire to see me succeed in education and beyond proved to me that everything they’d done to date was more than a box ticking exercise - that they were, perhaps, the real, social-inequality-smashing deal.

An offer to set me up with a Villiers Park alumna to receive professional mentorship meant I got those “sage pieces of career advice” from the assistant editor of Fabulous magazine. I went on to gain work experience on the features desk with her at News UK, an achievement which ranked top of my list when it came to applying for graduate positions and gaining a role as a graduate copywriter.

In the end, it turned out this wasn’t the route for me, but I’m still grateful for the opportunity to have explored this field. Instead, I’m retraining as an English teacher through a charity that operates in some of the most deprived areas of the country and is committed to improving social mobility through education. Sounds familiar… Villiers Park, I realise, may have made more of an impact on my life and career than first thought – from helping me shape my aspirations to then supporting me in achieving them.

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Chair's Introduction

Villiers Park Educational Trust is special. Our mission has never been more relevant.

I am sure that everyone reading this annual report will agree with these two sentences. I am certain that the energy, passion, values, impact and intent of our teams, our supporters and above all the young people, whom we work with and for, will leap out from every page.

Villiers Park is a remarkable organisation, promoting the rights and entitlements of young people who are disadvantaged by the social, economic and education systems and structures in this country. Every young person is entitled to the best education and opportunities. We help them to overcome these barriers and enthuse them to be ambitious and confident, whilst challenging the barriers themselves. Villiers Park is passionate for social justice and the rights of young people. The Trust is driven by our values, which are shared and lived by trustees and staff alike.

It was a privilege to become chair in Spring 2020, having served on the Board for over three years. Given my passion for social justice and equality, I am proud to be part of such a great organisation.

I would like to pay tribute to Dr Richard Barnes, my predecessor. As a long-serving trustee who served as chair for over five years, Richard led the Board and the organisation through a period of major change. His stewardship ensured that Villiers Park remained relevant, maximised its impact and laid the foundations for a sustainable future. Richard’s passion and commitment will be greatly missed. On behalf of everyone at Villiers Park and the thousands of young people whom the charity supported during his tenure, as well as those yet to be involved, I extend a very warm “thank you” to Richard. Thank you also to Ian McEwan and Tamara Sword who both retired from the Board this year.

In the last year we have welcomed a great cache of new trustees to both refresh and strengthen the Board. Excellent governance is critical to the success of any charity. At Villiers Park we take governance very seriously and are introducing several measures to enhance it further, including recruiting a recent Villiers Park alumnus as a trustee. The Board is committed to fulfilling the Trust’s mission and to honouring its values – to ensure that Villiers Park maximises its impact.

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The period to which this report in part relates has been challenging for our students, our partners and the Trust itself. These challenges included Covid-19, a historic economic collapse, continuing austerity, increasing poverty and a serious regression in social mobility. Whilst Villiers Park itself has faced some major challenges, we have remained focused on our mission of supporting those young people who have to contend with the biggest challenges of all. Covid-19 has shone a light on and amplified educational di4advantage and exacerbated existing inequalities. Government continues to fail to tackte the underlying structural and policy causes of poverty, inequality and irfui colitinues to underfund schools and further education and is not addressi sym oms nor the causes of social, economic andmTrtwkdL&adva too any young people and their families in a holistic and sustainable d to challenge this and to campaign for systematic change the faced by Villiers We are committed to a twin-tracl appro4h of irect servicedelive ed with young people and of advocacy and campaigni irffl re othek and our service delivery provides evidence for ou vocac activi . We providoyfdh-quality programmes, services and knowlidgei xchange,Prtg in partner&hip with schools, colleges, higher education institutions and other bodies that thare our values and aims. Equally importantly, we seek to influence both short-term policy and e'ducational practice, and campaign for the removal of the deep social and economic Jnderlying structura1 causes of social immobility and inequalit By the time Covid-19 arrived in the UK, Villiers Park had already be revision and reform of our programmes. The pandemic accelerated this proce55. The shift in what we offer to young people and how we work with partners was accelerated successfully with the introduction of the Future Leaders programme and a move to a blend of face-to-face and online provision. Whilst remaining focused on supporting disadvantaged young people leaving school to embark on the next stages in their lives, we have recognised that does not necessarily mean immediate admission to university. When this is the right destination for and the choice of the student, they must be entitled to equality of access. We are adopting a wider approach to defining the student groups we support. These strategic adjustments are both right for young people, and have been welcomed by our partners and, more importantly, the students. As with all charities, Villiers Park faces some financial challenges, not least in terms of income generation. We have focused on taking action to control costs without detriment to our services and other activities, and have continued to invest in our teams, in our infrastructure and in enhancing our income generation.

The executive and Board are continuously reviewi ng Vil l iers Park's f inancial health and will act as requi red to secu re its Sustainabi l ity in com pliance with our mission and the interests of young people. Income generation is critical to our future. Therefore, it is both right and important to acknowledge the generous SUPPQrt our of funders, sponsors and partners. Without their support we could not provide OLsr services and support young people. We owe a very big'thank you" to all ofthem- all of youl We are, of course, always welcoming l of new sponsors, donors and partners who share our values and ambition. Whilst young people are our most important stakeholders, our members of staff are especially important. This has not been an easy year for them. Villiers Park's achievements ovir the year are testimony to their professionalism and commitment. On behalf of the Board, I record our thanks to our Chief ExecLJtive, the executive team and all the staff. Finally, but not least, l express my thanks to trustee colleagues. It has been a challenging year, but we face the future with confidence. John Tizard, Chair of Trustees IP Page 4

Chief Executive's Overview

Last year, Villiers Park made a commitment to our young people, staff and stakeholders to become a “values-led” organisation.

Working together, all staff and trustees took the time to think about what our values are, what we aspire for them to be, and how they should impact on our behaviour in a meaningful way. Without our shared understanding of and commitment to fairness, aspiration, courage and empowerment, we would not have come through the challenges of 2020 in the way that we did. I am grateful for the staff team’s phenomenal dedication and expertise, as well as the tremendous support we have received from the Trustees, and in particular our Chairs, during this period.

In unprecedented times it was our values that guided us to pivot our operating model and deliver enhanced support to disadvantaged young people. We increased our support through school holidays and built new delivery mechanisms, reaching disadvantaged young people online, by phone and by post. Making sure that they were not disadvantaged by remote learning, compounded by digital poverty. We have provided higher levels of support than ever before, enabling our GCSE and A- level graduates to navigate a complex and fast-changing grading process and secure destinations for the next stage of their educational journey.

Villiers Park has a proud record of over a century of achievement, challenging orthodoxy and seeking to enhance policy and practice. Our thousands of alumni and their achievements are testimony to this record. We are fortunate to be able to build on this inheritance and ensure that Villiers Park remains true to its mission.

This work laid the foundations of this next evolution of our programme, Future Leaders, which takes the very best of the long-standing Scholars and Inspiring Excellence programmes and draws on evidence from the best international practice. We are striving to work with even more young people from disadvantaged backgrounds by taking advantage of technological advances and incorporating new learning from cutting-edge research and practice.

Our Future Leaders will develop their agency, skills and knowledge throughout their journey with us, working directly with our trained coaches who are experts in building curiosity, tenacity and creativity.

We continue to work on behalf of, and in partnership with, other organisations including schools, colleges, universities and corporate organisations to deliver services to disadvantaged young people.

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We have also actively sought o rtunities for our Future Leaders to shape policy and underpin our influencing and campai9 ctivities. Over the summer I was delighted to be joined by Future Leader Mo r) BBC News TV, talking about the impact of lockdown on exam results. Another o! our Future Leaders, John- Russell, did a fantastic job of talking about what it was liEe to be a white working- class young man trying to move forward in his education to achieve his aspirations in interviews with BBC Online and Talk Radio. I was also given the opportunity to present evidence to the House of Commons Education Selèct Committee, contributing to government policy thinking at the Very highest levels rkto address structural causes of inequal ity is essential if Qilliers Park is to ac ieve its vision of a world in which everyone can realise their potential and lead society into a healthy and equitable future. me Over the next year, you will see growth in the number of Future Leaders that we support. You will also see the establishment of our new Communities of Practice, bringing together practitioner5 and academics from acr05S 5econdaryi further and higher education to share u nderstandi ng of ef fective ways to deliver social mobi lity and educational equality. We will continue to champion the voices of our young people in campaigning for the end of structural inequalities. We will support partner organisations to better understand how they too can make the biggest possible difference. All this will be done because we remain true to Villiers Park's mission and values, and we are in the process of developing a new ethics policy to enshrine this commitment. This yeartfas taught me that mere resilience is not enough. r s an organisation, we need to build our stamina. This is no different for our Future Leaders, who arrive with bucket loads of resilience having already faced more obstacles than most. As we continue to grow and develop we are looking at new ways of working that support stained growth and enhancement for both ourselves and, most importantly, those who we seek to support. The work of Villiers Park has never been more important. Rae Tooth, Chief Executive Page 6

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Corinna Russell,
Fellow and Tutor for
Admissions in Arts,
Emmanuel College,
University of Cambridge
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For the past three years Emmanuel College has worked in partnership with Villiers Park to deliver a programme of aspiration raising and academic support to Year 12 students from Thurrock in Essex, a ‘cold spot’ for progression to Russell Group universities.

Without the mediation of Villiers Park, these schools would simply not have engaged with us as representatives of the University of Cambridge. The offer of a highlystructured, credible course such as Future Leaders, run by an organisation like Villiers Park which is perceived to be on their side, has got us further than years of drop-in visits and presentations could ever have achieved. The model which Villiers Park has facilitated for us is truly innovative.

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Future Leaders

The year 2019-20 marked the culmination of months of preparation as Villiers Park built on the success of our long-running Scholars and Inspiring Excellence programmes by developing and introducing the Future Leaders programme, which was launched in October 2020, just after the end of this reporting period. The move was driven by a desire to enable even more disadvantaged young people to benefit from Villiers Park’s impactful programmes.

Future Leaders is a response to the changing educational and societal environments in which we operate and, most critically, in response to the needs of young people, schools, universities, colleges and employers. We have used experience, evaluation and international evidence to refine what we do and make it available to even more young people.

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Future Leaders The programme consists of three core elements: COACHING Puts you in control by helping you understand your motivations and strengths Guides you in planning a route throLJgh the programme Helps you to identify and overcome barriers to succes5 LEADERSHIP CHALLENGE ssss2 oon 000 Enables you to create, manage and deliver your own educational project for the benefit of your community Gives you the opportunity to work in new environments, build confidence and develop leadership and project management Encourages YOU to experience the impact of self-efficacy and agency WORKSHOPS AND COURSES Allows you to learn about potential career paths Builds leadership, study and academic skills, as well as improving your time management, public speaking and critical thinking Offers you the experience of studying a subject in a university-style environment Page 9

Future Leaders

Future Leaders is rooted in ‘possible selves’ psychological theory, which argues that the potential ‘future selves’ that we can imagine are limited to those that we have the resources to conceptualise. They are shaped by:

our social and cultural context

what we can see around us

• our own experience

the experience of the people who advise and help steer us

whether or not they are validated by people whose opinion we respect.

The more tangible these imagined futures seem and the more a young person understands the multiple pathways to get to each future, the stronger their influence becomes on the motivation to achieve them. Future Leaders acknowledges that young people already have high aspirations and aims to support them in developing self-efficacy and agency in their own futures, and equip them with the skills, experiences and motivation they need to become leaders in their chosen field.

The Villiers Park OPEN coaching model draws on the latest evidence-informed approaches to working with young people. Supported by trained and experienced coaches, Future Leaders will explore their purpose and values to understand what is most important to them and what they want to achieve. It will help them assume responsibility for their own outcomes and develop their own solutions to the challenges they face, and instil them with the curiosity, creativity and tenacity they need to succeed in life. This self-reflexive approach enables Future Leaders to increase their agency and enables them to select their own pathway through elements of the programme as they reflect on and record their own developing attributes and needs.

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Evaluation

Monitoring, assessing and understanding the impact of our programmes and activities is crucial if we are to make the best use of our resources by identifying what works best and makes the biggest possible difference for the young people we work with. We also need a clear and robust picture of the outcomes of our work to ensure that we are concentrating our limited resources on those aspects of delivery that we know work best, and identifying areas for improvement and development. The delivery and operationalisation of the Future Leaders programme is underpinned by a process of continuous evolution and we have the courage to stop or revise any aspects of our programme that are not effectively delivering the outcomes we, our young people and our funders want.

All of our activity is, or is in the process of being, underpinned by a detailed theory of change, a comprehensive map of our thinking and understanding of how what we do leads to the outcomes we want, and includes the evidence that informs our delivery. We have a comprehensive framework of activity-specific qualitative and quantitative measures and have regular review and reflect meetings, when we assess our evaluation outcomes and what they are telling us. We use these outcomes to create action plans, ensuring that our learning feeds directly back into how and what we deliver in our programmes. It is also essential that the young people we work with play a key role as participants rather than subjects in our evaluation process, as well as in developing and evolving our programmes and activities. We are also pragmatic about evaluation and integrate evaluation into our delivery activities to minimise the burden of evaluation on the young people we work with and for. We continually adapt and review our evaluation framework and approach, along with our activity, to ensure they always reflect the needs of our programme, our stakeholders and our Future Leaders.

We also evaluate our knowledge transfer, influencing and campaigning programmes with the same rigour and we continue to develop systems and processes for this, and to learn from others.

The executive team and trustee board review evaluation reports and use the evidence from these evaluations to shape strategy, allocate resources and manage the Trust. It also provides an evidence base for our advocacy and campaigning programmes.

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Dr Chris Lennard, Acting CEO, Evolution Education Trust

Villiers Park is a long-term partner of the Evolution Education Trust (EET), and we continue to provide support for its innovative Leadership Challenge programme. Through its on-the-ground interventions which help identify and develop talent in Key Stage 4 and 5 pupils from less-advantaged backgrounds, the EET has taken on board significant learnings. We have found Villiers Park to be exceptional in understanding and responding to the needs of its target audience, and forwardlooking, open and industry-leading in evaluating its programme effectiveness.

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Supporting students durin the Covid-19 g pandemic

This reporting year was an extremely challenging one for organisations across the globe because of the Covid-19 pandemic. Villiers Park was not immune from this. From March 2020 we moved from in-person delivery to our activity being delivered online, by phone and post ensuring that none of our young people were left behind. Having made these changes, we temporarily closed the Cambridge Centre to students and staff.

During the year more than 600 students received one-to-one support through a challenging period of enforced home schooling. The activities and support on offer were shaped by the results of surveys of our young people and discussions with our stakeholders, in particular staff at schools, colleges and universities. Students were offered online and phone coaching and kept in regular contact with Villiers Park staff using VP Mail, our safeguarded, closed email platform. This contact was particularly important during lockdown, as many students expressed concerns over issues such as exam results, wellbeing and university applications - all exacerbated by isolation, higher levels of financial hardship and fears about health. Where there was need and when the government and schools failed to do so, we supplied our young people with IT equipment, ensuring access to our own programmes as well as school learning. Students attended webinars which were tailored to their needs on themes such as how to develop effective study skills when learning remotely. Fortnightly newsletters were sent out including relevant updates, signposting to information, advice and guidance and wellbeing support. Students were also encouraged to raise their voices and share their passions by completing Leadership Challenge projects. We were able to direct them to opportunities for virtual employer engagement in collaboration with partner organisation Founders4Schools.

For the first time Villiers Park extended support to students through the school holidays, particularly during the exam results period. As a result of ministerial intervention, thousands of A-level students were issued with amended grades days after results had initially been published. Villiers Park staff were on hand to offer support as young people navigated the turbulent university admissions environment that ensued. Villiers Park also played a prominent role in the cross-sector campaign for grades to be amended to prevent students from disadvantaged backgrounds being adversely affected by the algorithm used to calculate grades. We achieved coverage from many media outlets including BBC News, Sky News, ITV and the Daily Telegraph.

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Activities & Impact

The evolution from the Scholars Programme to Future Leaders is now complete. Villiers Park’s legacy programmes still made up the majority of its delivery in 2019-20. The following section outlines the activities that took place, and the impact of the final year of these programmes.

Scholars Programme

The Scholars Programme was a comprehensive programme for high-ability students between Years 10 to 13. The programme was designed to enable students from less advantaged backgrounds to reach their full potential and progress into higher education.

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Villiers National
Park average
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Impact

In the 11th and final year of the Scholars Programme, we worked with a total of 510 young people across Crawley, Hastings, Norfolk, Swindon and Tyneside. Obtaining comprehensive data on exam results has proved challenging due to changes in A-level grades received by students, as well as schools and colleges subsequently being closed due to lockdown. However, provisional data on the results of Year 11 GCSE exams, as well as progress to university for Year 13 students, were positive:

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100%
75%
50%
25%
0%
% of GCSE grades at 9-4/A-C% of Year 13 students progressing to university% of students progressing to leading universities
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*Defined as the top 25% of UK universities as ranked by Times Higher Education (THE)

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Activities

Central to the success of all our programmes are the teams of committed staff. The teams worked closely with students, delivering one-to-one and group mentoring sessions and overseeing the variety of workshops, masterclasses and residential courses essential to the programme’s outstanding outcomes. Activities delivered during 2019-2020 included:

Year 10: ‘Design a university’ residential, where Scholars worked in ‘faculties’ to set up and deliver a university-style open day. This helped them to understand that moving into higher education was a realistic pathway for them, as well as giving them the confidence to be effective team players and encouraging them to think creatively.

Year 11: ‘Memory palace’ workshop, working with students to learn and utilise a number of different memory techniques to maximise their success during revision ahead of GCSE exams.

Year 12: ‘People have never had it so good?’ residential, challenging Scholars to critically analyse the current state of politics in the UK before creating new political parties. This encouraged students to be more outward looking, learn how to communicate effectively, and present confidently to an audience. Scholars visited the famous Cambridge Union to deliver their manifestos ahead of the ‘VP General Election’.

Year 13: ‘Employability’ residential or workshop, supporting Scholars with how to reflect on their experiences and talk about them effectively on applications and in interviews. Scholars were challenged to write an elevator pitch, complete a mock interview and attend a networking event.

Partnerships

Arm continues to fund our 2020 STEM Programme, which is a two-year initiative working in 10 schools across Bedfordshire and Cambridgeshire. The Reece Foundation continues to support the Tyneside STEM Scholars Programme. A large number of students progressed from both of these programmes to STEM-based university degrees and apprenticeships. Using our extensive experience of working with higher education institutions, we look to grow and diversify our work with university partners in the coming months.

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Nara Dima,
Alumna and
Qualified Solicitor
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Born in Romania, Nara moved to the UK 13 years ago with her family to follow her dream of becoming a professional pianist. State school educated in East London, she studied Law at A level and was good at it, but it was never more than a filler on her path to becoming a classical pianist. Encouraged by her aptitude for Law, Nara’s tutor at Leyton Sixth Form College suggested she attend a subject-specific residential course at Villiers Park:

“It was mind-blowing. I got the opportunity to have such an incredible, immersive insight into this subject that I realised I had only scratched the surface of at sixth form: visits to Cambridge’s law courts, talks from practicing lawyers, and the opportunity to discuss the subject with like-minded young people from many different backgrounds was hugely motiving. By the end of the week I could see myself really enjoying it as a career.”

Nara studied Law at Queen Mary, University of London. After this, she undertook a combined Legal Practice Course (LPC) and Master's at the University of Law, followed by her “training contract” - a two-year placement which enables Law graduates to immerse themselves and complete four different seats in their chosen legal areas. Nara qualified as a solicitor in 2019 and is now working as a legal counsel. She aspires to become a chartered legal executive, or company secretary as they are known - a strategic role providing broad legal oversight for companies. Never having forgotten where it all started, Nara hopes that Villers Park will continue to inspire many others in their journey to their chosen career:

“I will be forever grateful to Villiers Park as it ignited a spark in me which I didn’t know was there. It showed me new possibilities - what life could be like as a lawyer - and it really solidified my love for Law. It was a bit unsettling to turn my back on a career in music, something which I’d been working towards since I was seven years old, but during that week at Villiers Park, I saw the breadth of opportunity and interest that Law could offer me, and that’s been borne out by my career so far. I want as many young people as possible to have that same opportunity."

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Activities & Impact

Excellence Pro ramme Inspiring g

This consisted of a series of subject-specific residential courses taught to students at university level by expert tutors. They provided an opportunity for A-level students with expected A*-B grades to meet like-minded peers and study a subject they loved at a much higher level than taught at school.

Impact

From September 2019 to March 2020, a total of 310 Year 12 and 13 students from all over the UK attended one of the 14 subjectspecific Inspiring Excellence residential courses delivered at the Cambridge Centre.

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Rated "good"
21%
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Rated "excellent"
79%
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100%

75% 50% 25%

0%

Villiers National Park average

Activities

Subjects covered a wide range of topics across the sciences, arts, humanities and languages. The subjects were reviewed each year to meet the needs of our students and their longer-term employment opportunities. In order to meet these changing and diverse needs and to encourage cross-curricular collaborative work, we introduced two new courses – a joint French and Spanish course, and another in history and geography. These were extremely successful. During the joint MFL course students not only attended seminars on their preferred language but then came together in bigger groups to explore themes such as language, culture, art and identity. The tutors on the humanities course, however, taught to the whole group to emphasise how much history and geography are interlinked, albeit sometime from different standpoints. Their seminars were intellectually challenging with titles such as Connections of History and Geography: Reciprocal Change in Nature and Society, and Understanding of Past Environments.

As well as receiving intensive academic input, and gaining valuable experience of preparing and presenting group projects, students were also addressed by guest speakers from the University of Cambridge such as Dr Peter Wothers from the Department of Chemistry, who spoke about “The Schrödinger Equation” and Professor Imre Leader from the Department of Mathematics, who gave a presentation on Van der Waerden’s Theorem. Participants also benefited from carefully-planned external visits to enhance their experience. For example, the computer science students benefited from the unique opportunity of visiting Arm in Cambridge and working with graduate trainees. Biology students were privileged to visit the world-renowned Wellcome Genome Campus.

Partnerships

Part of the National Collaborative Outreach Programme (NCOP) and funded by Study Higher, the Fantastic Futures Programme supported more than 350 Year 1013 students from targeted wards in Swindon in 2019-2020. Students took part in a range of individual mentoring and group activities for all students. Feedback from Study Higher has been extremely positive and a second tranche of funding has been awarded to enable the project to continue through to summer 2021.

Following the Office for Students’ consultation on the future of this project, we wait to hear about funding opportunities for continuation of this initiative in Swindon. The success of this work directly informed our decision to grow our provision to a broader group of young people under the Future Leaders programme, and these courses will be rolled into our online delivery through the Launchpad website.

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Activities & Impact

INVOLVE

The Villiers Park INVOLVE initiative empowered students to devise and deliver enrichment projects that benefited their school, college and wider communities. Students enhanced their Skills4Success – key employability and personal skills – as well as having the opportunity to highlight their leadership potential. This successful initiative has been enhanced and relaunched as Leadership Challenge.

Impact

Overall 166 students started an INVOLVE project between December 2019 and March 2020. The impact of the programme was inevitably limited by lockdown. However feedback from the 24 students who completed their project was extremely positive. Those students unable to complete as intended over the last academic year are all being given the opportunity to complete next year.

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Very likely to cite project in UCAS app. or CV
Very likely to recommend INVOLVE to others
Reported an improvement in resilience and reflection
Reported improvements in motivation, confidence, adaptability
0 25 50 75 100
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Activities

The footprint of around 1,000 secondary beneficiaries this past year is testament to the creativity and ambition of students, who in several cases looked far beyond their own schools for potential impact.

- A selection of INVOLVE projects in 2019 20

Smarties STEM club

A student noticed a severe lack of enthusiasm for science among some of the younger pupils in their school. This spurred them to take on responsibility for a STEM-based club that had previously been run by former Year 12 students at the school. The club is called Smarties and is targeted towards Year 7 and 8 pupils to get them motivated and inspired by science through fun experiments and challenging projects.

Art Club

This project was led by a Year 12 Scholar, with support from another Scholar and two other friends. The project gave students in Years 7 to 9 the chance to learn new artistic skills and develop existing ones, as well as catch up on their art work for school. The sessions ran every week and attracted on average 10 students. The lead Scholar was able to develop organisation, time management and teamwork skills. She liaised with school staff, ensured the rooms were set up and packed down appropriately, and managed a team of helpers. She was very clear that the best personal outcome was improved confidence.

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Share Your Story

In response to lockdown, students on the Swindon Fantastic Futures programme were invited to raise their voice and express their feelings about a topic they were passionate about. They demonstrated effective communication, taking initiative and being open-minded, confident and creative. Examples include Monifa Rodrigues, who wrote a speech about women in STEM, arguing that gender inequality had led to fewer females going on to study STEM subjects and pursue careers in this field:

I strongly believe that female participation in STEM and gender equality are intertwined. Inseparable. Interdependent. For example, Turkey. A country which was rated extremely low for gender equality also sports one of the largest gender gaps in terms of women to men in STEM. What does this mean? Well, when you tell a woman that she is less. Less valuable. Less educated. Less powerful than a man. These “less”es build inside like a toxic wall. She prevents herself from reaching her full potential to strive for the highest achievements. She becomes her own enemy. Her own downfall. What forces her into thinking this though? Stereotypes.

Lucia Beggan wrote an article reflecting on her experience of lockdown:

Like many of us, remote learning and I have a bit of a love-hate relationship going on. I’ve realised that not only am I learning new school content, but I’m learning tolerance. Tolerance of the once impossible-seeming computer software I’m having to deal with daily, or tolerating the essential fact that I can no longer physically interact with people, including my friends, teachers and all the other social interactions we may sometimes take for granted. Tolerance is undoubtedly a vital skill which we can use throughout our whole lives, especially as our lives are only just beginning - workplaces and universities won’t be such a shift in environment if we learn to adapt and expect the unknown.

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Advocacy & Campaigning

Addressing social disadvantage caused by educational inequality and inequity is a key part of Villiers Park’s charitable mission. We campaign on our own for changes to policies and practice which inhibit social justice and educational equality and opportunity, as well as collaborating with partners as a member of collective groups such as the Fair Access Coalition and the Fair Education Alliance.

We are committed to campaigning for government and others to tackle the underlying systematic and structural causes of inequality, inequity, poverty and educational disadvantage. We will continue to champion the concept of social mobility and offer solutions to this end. We recognise that this can only be achieved when there is wider systematic and structural reform and recognise that it will also mean that some people will have to forgo their privileges.

We also seek to persuade government and local authorities to fund education adequately, including the programmes run by, or ones similar to those developed and delivered by, Villiers Park. We do so by sharing our evidence of impact and demonstrating that what we do makes a difference and is sustainable.

Campaigning on these issues is a key element of our mission and is consistent with our charitable objectives.

In August 2020 Villiers Park played a prominent role in responding to the chaos surrounding the awarding of A-level grades. Last-minute announcements and policy U-turns caused confusion and disruption for tens of thousands of young people, with many of them seeing their grades amended days after they had initially been published. Not surprisingly, the uncertainty had a significant adverse impact on university admissions, with many students missing out on places at their first-choice institutions due to factors outside their control.

Villiers Park was at the forefront of the cross-sector campaign calling for the grading process to be carried out fairly and transparently. After the Chief Executive signed a statement by the Fair Access Coalition and the Fair Education Alliance demanding urgent action over how students’ results were graded, her solutions-focused blog for FE News set out the necessary steps for the government to take.

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Advocacy & Campaigning

This article attracted significant attention, leading to the Chief Executive being interviewed live on Sky News and BBC local radio and contributing to coverage by the Daily Telegraph and ITV. A highlight of Villiers Park’s campaigning came when she was interviewed on the BBC News channel alongside Future Leader Mohammed, who awarded the government a ‘U’ grade for its handling of the examinations crisis.

This campaigning activity continued through the autumn following the end of this reporting period, with regular media appearances to address the issue of digital poverty – highlighted and exacerbated by the pandemic – resulting in the Chief Executive being invited to give oral evidence to an inquiry by the House of Commons Education Select Committee in January 2021. This was a significant opportunity and we will continue to engage with parliamentarians and others to address both the causes and symptoms of economic and educational disadvantage faced by too many young people and their families.

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Communities of Practice

A Community of Practice is a group of people who "share a concern or a passion for something they do and learn how to do it better as they interact regularly". Such communities are central to how Villiers Park operates as an organisation. In May and June 2020, we launched the first of our Communities of Practice, bringing colleagues together for a series of online lunchtime conference sessions to discuss evaluation and outreach delivery in the context of the Covid-19 pandemic and share thinking and solutions. More than 300 practitioners registered for the events in the “Why Evaluate?” conference in total.

After the reporting period, Villiers Park launched a second Community of Practice for practitioners in the further education sector, and we have plans for other communities for practitioners working in higher education and in schools soon in order to increase our reach and impact across the education sector.

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GOVERNANCE OF VILLIERS PARK EDUCATIONAL TRUST

Villiers Park Education Trust is a registered charity and a company limited by guarantee.

Charitable Objective

The objects of the Trust are such charitable purposes as the Trustees shall from time to time in their absolute and uncontrolled discretion think fit. For many years, the Trustees have chosen to use the charity’s resources for educational purposes.

Our Vision

Our vision is a world in which everyone can realise their potential and lead society into an equitable, healthy future. We will do this through:

• Discovering untapped potential and nurturing curiosity, tenacity and creativity

• Empowering young people to succeed and have confident futures by helping them develop the skills and knowledge they need to become the leaders of tomorrow

• Working in partnership with other organisations that share our vision to make the biggest possible difference to young people’s lives

• Influencing educational and wider practice and policy to ensure all young people have equitable opportunities to succeed.

Public Benefit

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

As stated at the start of this report, social immobility and educational inequality are serious entrenched problems in this country.

The Trust’s programmes and campaigning are focused on

• improving educational outcomes and life opportunities for young people, especially those from socially and economically disadvantaged backgrounds

• reforming education and related policy and practice; and addressing underlying systematic and structural causes of social and educational disadvantage

• empowering young people from disadvantaged and underrepresented backgrounds to be Future Leaders and ensuring that they secure their entitlements.

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The Trust’s resources are used to

• help young people from less advantaged backgrounds to secure their entitlements in education and society. Thus, the charity’s activities enable young people from less advantaged backgrounds to plan pathways to their ambitions, and develop the behaviours, skills and subject-specific knowledge they need to fulfil and realise their potential.

• influence improvements in policy and practice and secure long-term structural change.

Governance

The Board of Trustees and Company Directors

The Board comprises ten Trustees who are also company directors.

Trustees are recruited through an open competitive process and appointed for their experience but above all for their passion for social justice and Villiers Park’s mission and values. Trustees and the Chair are subject to annual appraisals and the Board reviews its own collective performance annually.

Board responsibilities

The Board is responsible for setting strategy, agreeing policy, performance managing the executive and ensuring financial sustainability and legal compliance, as well as being the custodian of the Trust’s reputation, mission and values. The Board receives advice, recommendations and performance reports from the Chief Executive and the Executive team and, in the case of finance, from the Chief Operating Officer who is Chief Finance Officer.

The Board is ultimately responsible for safeguarding and health and safety across the organisation It regularly reviews these policies and considers operational reports from the Executive at every meeting.

The Board reviews and maintains policies in respect of, and considers operational reports from the executive on the implementation of:

• risk strategies and risk management

• financial strategy and performance

• operational delivery

• advocacy, influencing and campaigning

The Board delegates the performance management of the Chief Executive to the Chair. It delegates responsibility for operations to the Chief Executive, and through her to the Executive and staff team through an agreed scheme of delegation.

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The Board has two committees:

• Resources Committee is responsible for overseeing finance, HR, property, IT and income generation.

• Programmes and Impact Committee is responsible for overseeing the Trust’s services and programmes, and their evaluation.

The following Trustees held office during the year:

Adrian Ball (appointed 12 September 2017) John Tizard (appointed 2 July 2018) Lesley Ebdon (appointed 10 September 2018) Simon Smith (appointed 13 May 2020) Nick Ratcliffe (appointed 13 May 2020) Stephen Norton (appointed 13 May 2020) Gwyneth Gibson (appointed 13 May 2020) Gordon Marsden (appointed 1 September 2020) Shakira Martin (appointed 1 September 2020) Christina Hughes (appointed 1 September 2020) Richard Barnes (resigned 23 July 2020) Tamara Sword (resigned 23 July 2020) Lynn Gradwell (resigned 12 December 2019) Ian McEwan (resigned 13 May 2020)

Trustee Profiles (as at 31 August 2020)

John Tizard (Chair) has been a senior executive in the charity and corporate sectors, and is a former County Councillor and Council Leader. He advises and commentates in the UK and internationally on subjects such as public policy, public services, governance and leadership. He has held trustee and NED roles in local government, the NHS, police, businesses and charities. He currently holds several trustee, NED and chair roles.

Adrian Ball (Deputy Chair) built a career working in schools located in areas of high socio-economic deprivation in both teaching and leadership roles. Adrian is currently the Chief Executive Officer of the Diocese of Ely MultiAcademy Trust.

Les Ebdon (Chair of the Impact and Programmes committee) has had a distinguished career as Professor of Analytical Chemistry, University Vice Chancellor and Director of Fair Access to Higher Education, and is one of the leading voices in this country promoting the benefits of higher education and social mobility.

Simon Smith (Chair of the Resource Committee) is a Chartered Management Accountant and works as Director of Resources for Thomas Deacon Education Trust (TDET), where he is also the Company Secretary. Stephen Norton is a professional working in investment banking, corporate trust and corporate services. He is a former President of the Association of Corporate Trustees.

Nick Ratcliffe is a management consultant with substantial experience across the education sector and civil service.

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Christina Hughes has extensive experience of social mobility, student achievement and higher education through her academic work at Warwick, Sheffield Hallam and Kent universities, where she has also held senior leadership roles.

Shakira Martin is Head of Student Experience at Rose Bruford College and founder of The Class of 2020 initiative. Prior to this, Shakira served as the National President of the National Union of Students (2017–19), representing 7 million young people studying in further and higher education.

Gordon Marsden is a former Shadow Minister for Higher Education, Further Education and Skills. He was MP for Blackpool South from 1997 to 2019, and set up and coordinated the independent Lifelong Learning Commission. Gwyneth Gibson began her career as a class teacher, before becoming a local authority consultant and Her Majesty’s Inspector. She is currently Headteacher of Lea Manor High School.

Safeguarding

Villiers Park Educational Trust carries out activities which bring our employees and people working on behalf of our organisation into regular contact with children and young people. Villiers Park Educational Trust believes that a child or young person should never experience abuse of any kind. The Trustees recognise their legal duty to act prudently and in the best interests of these children and young people, and have implemented policies, procedures, training and monitoring to ensure that all reasonable steps are taken to protect them and keep them safe.

Key Management Personnel

The Executive team members are:

The Trustees (non-executive) Rae Tooth, Chief Executive Julian Crockford, Chief Programmes Officer Tina McEwan, Chief Operating Officer

Their salaries were:

Chief Executive £90,000 p.a. (full-time September 2019 to March 2020, 80% full-time equivalent for April to August 2020) Chief Programmes Officer £48,000 p.a. (80% full-time equivalent) Chief Operating Officer £30,000 p.a. (40% full-time equivalent)

The Chief Programmes Officer and Chief Operating Officer joined the Trust in March 2020 and were initially employed on reduced hours contracts. From September 2020 onwards the contract for the Chief Executive returned to 100% full-time equivalent and the Chief Programmes Officer and Chief Operating Officer increased their working time to 80% full-time equivalent.

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Remuneration and Employment Policy

The Board reviews the employment and remuneration policies on a regular basis and seeks to ensure that it treats all the staff fairly and remunerates them in accordance with market rates (with some, but not sole, reference to the charity sector) and in ways that are affordable. It does not believe that staff pay and terms and conditions of employment should in effect subsidise our charitable aims. Villiers Park pays the Real Living Wage and is committed to be being an exemplar employer.

The Trust invested £12,500 in staff development in the year of this report.

Three members of staff are paid a full-time equivalent salary of over £60,000 per annum. This represents 7% of staff and of 11% of total staff salaries. Trustees do not receive any remuneration from the charity.

Income Generation

The charity raised a total of £1.24m during 2019–20 despite the challenges presented by the pandemic. The Income Generation team has continued to perform well in working closely with existing supporters, as well as generating new income for Villiers Park by developing new opportunities.

Like many charities we start from the position that government and the wider public sector should fund education and programmes to ensure fairness and opportunity for all young people, especially those who are socially and economically disadvantaged. We believe that our charitable income should be used to complement, and not be a substitute for, public provision and public funding. Our charitable income should be used to innovate and in ways that allow such innovations to be adopted by others, especially in public education; and it should be used to fund our advocacy, influencing and campaigning programmes.

Unfortunately, many of our programmes and similar interventions are not funded by government so it is necessary for us to raise charitable income. We are highly encouraged by the increasing number of new supporters, driven in part by the increased awareness of the urgency to improve social mobility in the UK, and a number of the ambitious new partnerships with different types of funders were being developed in the months following this reporting period. The charity has implemented a new income generation strategy in the months following the financial year end. Villiers Park has identified significant unmet needs in specific target groups. We are therefore actively looking for partners to support the development and expansion of our programmes. We are seeking to diversify our sources of income and to secure new funding.

This approach has already resulted in collaboration and funding from universities and schools with whom we have not previously worked or received funding from. The strategy aims to strike a balance between unfettered voluntary income and income from delivering prescribed services. This

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continues to be effective and in the last six months has already yielded positive results.

That said, income generation remains challenging, not least as a result of the economic conditions and the competition across charities resulting from Covid19. In addressing these challenges Villiers Park is not alone but we are determined to build our income so we can maintain and expand our programmes to maximise our impact. We are always open to offers of support and to explore innovative approaches to income generation.

Successful funding partnerships of note this year include our continued work with universities and the Study Higher National Collaborative Outreach Project. Villiers Park has established itself as a highly successful and well-regarded provider of outreach and widening participation services, and we are confident of growing this activity in future years.

We are committed to the highest standards in fundraising practice. We are regulated by the Fundraising Regulator. This year we received no complaints related to our fundraising.

The Trustees are extremely grateful to the following organisations that made contributions of £1,000 or more to our activities in the past year:

The Golden Bottle Trust, Oxford Brookes University, Trinity College Cambridge, The Dulverton Trust, Evolution Education Trust, Emmanuel College Cambridge, Masonic Charitable Foundation, Orbis Investments, University of Southampton, MathWorks, AECC University College, Leathersellers’ Company Charitable Fund, Sir David Verey CBE, Mr Keith Sykes, PF Charitable Trust, Platten Family Fund, Sir James Knott Trust, AbbVie, Educational Foundation of Alderman, John Norman, Ernest Kleinwort Charitable Trust, The Weinstock Fund, Magdalen and Lasher Charity, CHK Charities Limited, The Clothworkers' Foundation, 29th May 1961 Charitable Trust, Cazenove Charitable Trust, Hays Travel Foundation, The Lawson Trust CIO, AB David Charity, Paul Bassham Charitable Trust, The Charles Littlewood Hill Trust, Leslie and Lilian Manning Trust, Mr D Challen, Mr and Mrs J Webber, Ms A Weinberg

The Trustees would also like to thank the many other organisations and individuals who have generously supported the charity both in-kind and financially over the last year.

Registered Address

Administration Office, Villiers Park, Royston Road, Foxton, Cambridge, CB22 6SE

Independent Auditors

Peter Elsworthy and Moore, Salisbury House, Station Road, Cambridge, CB1 2LA

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Solicitors

Howes Percival LLP, 24 Hills Road, Cambridge, CB2 1JP Taylor Vinters LLP, Merlin Place, Milton Road, Milton, Cambridge, CB4 0DP

Bankers

CAF Bank Limited, 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ Redwood Bank, The Nexus Building, Broadway, Letchworth Garden City, SG6 3TA

Hampshire Trust Bank, PO Box 74003, London, EC2P 2QR Clydesdale Bank plc, Cygnet Park, Cygnet Road, Peterborough, PE7 8FD

FINANCIAL REVIEW

The Net Movement in Funds was a deficit of £95,851 [unrestricted deficit £324,141, restricted surplus £228,290] (2019 deficit £133,239). It is worth noting that the comparative period is a fourteen-month period due to the incorporation of the trust as a company limited by guarantee. The comparative figures are to be read accordingly.

Income

Total income for the year was £1,385,163 (2019 £1,788,147). The trust has faced challenges arising from the pandemic with increased competition for funding available. The funds raised for the twelve-month period ended August 2020 were £971,817 (prior financial period: £1.29m); it is worth noting that the previous accounting period was a longer, fourteen-month period as opposed to the current financial period of twelve months. Income from charitable activities of £241,851 was slightly higher than the previous accounting period (2019 £224,372) and the trust’s longer-term strategy is to grow income from charitable activities, hence removing some of the uncertainty attached to voluntary income funding. Other trading activities, mainly the hire of the centre to third parties, had increased during 2020 to £26,150 (2019 £14,230). This was the result of increased marketing and sales efforts of the centre facilities to third parties; unfortunately, the pandemic resulted in the trust having to cancel existing bookings for March 2020 onwards.

The trust received £141,334 of grants from the Covid Job Retention Scheme for the period from March to August 2020. With the announcement of the first lockdown, the trust had to temporarily close its residential site.

Investment income (rental income and interest on cash deposits) increased marginally to £4,011 (2019 £2,053), through the tighter cash management and the use of interest-paying savings accounts. Net gains on investments were £Nil (2019 Nil).

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Financial Year 2019 income sources Corporates Trusts & Foundations Fees for charitable activities Non-charitable trading Individuals University funding Investment income 10 20 30 40 50 Financial Year 2020 income sources Corporates Trusts & Foundations Fees for charitable activities Non-charitable trading Individuals University funding Investmeni income CJRS 10 20 30 40 Page 32

Net Gains on Investments

There were no gains or losses on investments this year (2019 £Nil).

EXPENDITURE

Expenditure for the year was £1,481,014, which was £440,382 less than in 2019 (£1,921,386). This reflects the successful outcome of the cost reduction measures taken. In response to the Covid 19 pandemic, the trust had furloughed some of its staff due to the temporarily halt of its residential programmes from March 2020 onwards. The level of expenditure on charitable activities decreased from £1,621,816 in 2019 to £1,481,014 in 2020.

The charity has considered options available to respond in an agile way to the challenges posed by the pandemic and the uncertainties due to its unpredictable nature and future development. In September 2020, the Trustees decided for the residential centre and office accommodation in Foxton to remain closed as students were unlikely to return during the academic year 2020–21. This sadly resulted in a small redundancy programme allowing charity to preserve unrestricted funds by reducing the costs associated with running the site by two thirds. In addition, launching the virtual learning environment and providing online coaching allowed the trust to continue delivering its programme to its beneficiaries whilst implementing the foundations for a blended future approach. Staff worked successfully from home. From a cost management point of view, this delivery model allows the trust to maximise its resources by allowing student facing staff to be available to beneficiaries regardless of location.

We continue to invest in necessary systems to support both service delivery and administration. Progress to improve these systems continues. Whilst our central overhead costs are continuously under review the Trustees recognise the need for appropriate expenditure on effective and efficient financial, human resources and IT systems and support services. Above all we recognise the importance and contribution of the small number of dedicated professional staff in our central support team.

Expenditure – Restricted Funds

Restricted grants and donations received during the year were spent on the educational programmes for which the funds were donated, except for restricted donations carried forward as restricted assets in 2019–2020, as agreed with the donors. Restricted donations included funding for places on Inspiring Excellence Programme courses, funding for specific programmes run with partners and funding for specific Scholars Programmes.

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RESERVES POLICY

The total net assets of the Trust are £1,919,411 of which £1,353,580 is invested in fixed assets, £228,290 is in restricted funds and £23,362 is in designated funds, leaving free reserves of £314,179 (2019 £320,179). The Trustees believe it is necessary to hold free reserves to cover between 3 and 4 months of total expenditure, currently approximately £240,000 to £320,000. This would look to cover the risks of fluctuations in fundraising income to ensure the Trust can meets its activity commitments to students, and to enable the Trustees to make short-term investments in new projects if opportunities arise. The current free unrestricted reserves of £314,179 are in line with those numbers.

The Trustees have designated the donations made by the late Mike Baker's family, colleagues and friends as the "Mike Baker Memorial Fund". We are very grateful for their generosity and support for our work by continuing to raise funds during 2019–20. The fund will continue to provide "Scholar of the Year Awards" over the next 3–4 years, and for other purposes to be decided (please see Note 12 to the Accounts).

INVESTMENT POLICY

It is the Trustees’ policy to hold long-term investments as property assets and short-term investments as interest-paying cash deposits. The policy and the investments are regularly reviewed.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

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

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 Charity 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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

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The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

AUDITORS

The auditors, Peters Elworthy & Moore, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 21 May 2021 and signed on their behalf by:

John Tizard Chair of Trustees

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VILLIERS PARK EDUCATIONAL TRUST

OPINION

We have audited the financial statements of Villiers Park Educational Trust (the 'charity') for the year ended 31 August 2020 which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

• the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

• the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VILLIERS PARK EDUCATIONAL TRUST (CONTINUED)

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' report has been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VILLIERS PARK EDUCATIONAL TRUST (CONTINUED)

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jayne Rowe (senior statutory auditor) for and on behalf of

Peters Elworthy & Moore Chartered Accountants Statutory Auditors Salisbury House

Station Road Cambridge CB1 2LA

Date: 28 May 2021

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020

Note INCOME FROM: Donations and legacies 4 Charitable activities 5 Other trading activities Investments Other income 6 TOTAL INCOME EXPENDITURE ON: Raising funds 7 Charitable activities 8 TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD	Restricted funds 12 months ended 31 August 2020 £ 792,006 150,500 - - - 942,506 - 714,216 714,216 228,290 - 228,290 228,290	Unrestricted funds 12 months ended 31 August 2020 £ 179,811 91,351 26,150 4,011 141,334 442,657 263,154 503,644 766,798 (324,141) 2,015,262 (324,141) 1,691,121	Total funds 12 months ended 31 August 2020 £ 971,817 241,851 26,150 4,011 141,334 1,385,163 263,154 1,217,860 1,481,014 (95,851) 2,015,262 (95,851) 1,919,411	Total funds 14 months ended 31 August 2019 £ 1,294,037 224,372 14,230 2,053 253,455 1,788,147 299,570 1,621,816 1,921,386 (133,239) 2,148,501 (133,239) 2,015,262

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 42 to 61 form part of these financial statements.

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee) REGISTERED NUMBER: 11443649

BALANCE SHEET AS AT 31 AUGUST 2020

Note FIXED ASSETS Intangible assets 12 Tangible assets 13 Investment property 14 CURRENT ASSETS Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 NET CURRENT ASSETS TOTAL NET ASSETS CHARITY FUNDS Restricted funds 17 Unrestricted funds 17 TOTAL FUNDS	184,008 541,548 725,556 (159,725)	2020 £ 11,968 1,261,612 80,000 1,353,580 565,831 1,919,411 228,290 1,691,121 1,919,411	209,783 789,924 999,707 (419,804)	2019 £ 20,351 1,335,008 80,000
				1,435,359 579,903
				2,015,262
				- 2,015,262
				2,015,262

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

John Tizard Chair of Trustees Date: 21st May 2021

Simon Smith Trustee 21st May 2021

The notes on pages 42 to 61 form part of these financial statements.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020

Note CASH FLOWS FROM OPERATING ACTIVITIES Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of intangible assets Purchase of tangible fixed assets NET CASH PROVIDED BY INVESTING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	12 months ended 31 August 2020 £ (249,756) 4,011 - - (2,631) 1,380 (248,376) 789,924 541,548	14 months ended 31 August 2019 £ (126,653) 2,053 279,793 (22,320) (23,308) 236,218 109,565 680,359 789,924

The notes on pages 42 to 61 form part of these financial statements

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. GENERAL INFORMATION

Villiers Park Educational Trust is a charitable company limited by guarantee and incorporated in England and Wales. Its registered office is Villiers Park Royston Road, Foxton, Cambridge, CB22 6SE.

The charity's functional and presentational currency is GBP.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (second edition - October 2019) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Villiers Park Educational Trust 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.

2.2 GOING CONCERN

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and have taken account of pressures on fundraising income and the impact of COVID-19. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

2.3 INCOME

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 income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Rents receivable under leases for properties are recognised on a straight line basis over the term of the lease.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 INTANGIBLE ASSETS AND AMORTISATION

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

Amortisation is provided on the following basis:

Software and website - 3 years

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Freehold property - 50 years Domestic and leisure appliances7 years Grounds upkeep machinery - 7 years IT equipment - 3 years Other equipment, fixtures and - 4 years fittings

2.7 INVESTMENT PROPERTY

Investment property is carried at fair value determined annually based on professional advice received and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of financial activities.

2.8 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.11 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

4. INCOME FROM DONATIONS AND LEGACIES

Donations Grants TOTAL 2020 Donations Grants TOTAL 2019	Restricted funds 12 months ended 31 August 2020 Unrestricted funds 12 months ended 31 August 2020 £ £ 268,781 179,811 523,225 - 792,006 179,811 Restricted funds 14 months ended 31 August 2019 Unrestricted funds 14 months ended 31 August 2019 £ £ 268,613 179,400 846,024 - 1,114,637 179,400	Total funds 12 months ended 31 August 2020 £ 448,592 523,225
		971,817
		Total funds 14 months ended 31 August 2019 £ 448,013 846,024
		1,294,037

5. INCOME FROM CHARITABLE ACTIVITIES

Inspiring Excellence Programme Scholars Programme Other eduational activities TOTAL 2020	Restricted funds 12 months ended 31 August 2020 Unrestricted funds 12 months ended 31 August 2020 £ £ - 84,413 150,500 - - 6,938 150,500 91,351	Total funds 12 months ended 31 August 2020 £ 84,413 150,500 6,938
		241,851

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

5. INCOME FROM CHARITABLE ACTIVITIES (CONTINUED)

Inspiring Excellence Programme Scholars Programme Other eduational activities TOTAL 2019 6. OTHER INCOMING RESOURCES Job retention scheme TOTAL 2020	Restricted funds 14 months ended 31 August 2019 £ - 56,075 - 56,075	Unrestricted funds 14 months ended 31 August 2019 £ 104,760 - 63,537 168,297 Unrestricted funds 12 months ended 31 August 2020 £ 141,334 141,334	Total funds 14 months ended 31 August 2019 £ 104,760 56,075 63,537
			224,372
			Total funds 12 months ended 31 August 2020 £ 141,334
			141,334

Other incoming resources represent amounts receivable under the Coronavirus Job Retention Scheme (CJRS) of £141,334 (2019 - £NIL) to cover salaries of furloughed staff.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

6. OTHER INCOMING RESOURCES (CONTINUED)

Profit on disposal of fixed assets Sundry income TOTAL 2019	Unrestricted funds 14 months ended 31 August 2019 £ 252,755 700 253,455	Total funds 14 months ended 31 August 2019 £ 252,755 700
		253,455

7. EXPENDITURE ON RAISING FUNDS COSTS OF RAISING VOLUNTARY INCOME

Unrestricted funds 12 months ended 31 August 2020 £ Wages and salaries 203,658 Pension costs 6,193 Depreciation 2,840 Other expenses 36,675 TOTAL 2020 249,366	Total funds 12 months ended 31 August 2020 £ 203,658 6,193 2,840 36,675
	249,366

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

7. EXPENDITURE ON RAISING FUNDS (CONTINUED)

Unrestricted funds 14 months ended 31 August 2019 £ Wages and salaries 261,410 Pension costs 7,836 Depreciation 1,894 Other expenses 19,137 TOTAL 2019 290,277 FUNDRAISING TRADING EXPENSES Unrestricted funds 12 months ended 31 August 2020 £ Wages and salaries 5,618 Other expenses 8,170 TOTAL 2020 13,788	Total funds 14 months ended 31 August 2019 £ 261,410 7,836 1,894 19,137
	290,277
	Total funds 12 months ended 31 August 2020 £ 5,618 8,170
	13,788

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

7. EXPENDITURE ON RAISING FUNDS (CONTINUED) FUNDRAISING TRADING EXPENSES (CONTINUED)

Wages and salaries Pension costs Other expenses TOTAL 2019	Unrestricted funds 14 months ended 31 August 2019 £ 5,935 137 3,221 9,293	Total funds 14 months ended 31 August 2019 £ 5,935 137 3,221
		9,293

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Inspiring Excellence Programme Scholars Programme Advisory Service/Villiers Park INVOLVE Other educational activities TOTAL 2020	Restricted funds 12 months ended 31 August 2020 Unrestricted funds 12 months ended 31 August 2020 £ £ 282,495 239,041 431,721 251,924 - 1,155 - 11,524 714,216 503,644	Total funds 12 months ended 31 August 2020 £ 521,536 683,645 1,155 11,524
		1,217,860

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES (CONTINUED)

Summary by fund type (continued)

Inspiring Excellence Programme Scholars Programme Advisory Service/Villiers Park INVOLVE Other educational activities TOTAL 2019	Unrestricted funds 14 months ended 31 August 2019 £ 865,331 663,672 38,879 53,934 1,621,816	Total funds 14 months ended 31 August 2019 £ 865,331 663,672 38,879 53,934
		1,621,816

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Inspiring Excellence Programme Scholars Programme Advisory Service/Villiers Park INVOLVE Other educational activities TOTAL 2020	Activities undertaken directly 12 months ended 31 August 2020 £ 486,610 588,438 1,155 11,524 1,087,727	Support costs 12 months ended 31 August 2020 £ 34,926 95,207 - - 130,133	Total funds 12 months ended 31 August 2020 £ 521,536 683,645 1,155 11,524
			1,217,860

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Activities undertaken directly 14 months ended 31 August 2019 £ Inspiring Excellence Programme 735,229 Scholars Programme 663,672 Advisory Service/Villiers Park INVOLVE 38,879 Other educational activities 53,934 TOTAL 2019 1,491,714 10. AUDITORS' REMUNERATION Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 11. STAFF COSTS Wages and salaries Social security costs Pension costs	Support costs 14 months ended 31 August 2019 £ 130,102 - - - 130,102 12 months ended 31 August 2020 £ 8,250 12 months ended 31 August 2020 £ 871,348 68,786 36,528 976,662	Total funds 14 months ended 31 August 2019 £ 865,331 663,672 38,879 53,934
		1,621,816
		14 months ended 31 August 2019 £ 9,130
		14 months ended 31 August 2019 £ 1,073,624 98,881 50,113
		1,222,618

Termination payments during the year ended 31 August 2020 amounted to £7,672 (period ended 31 August 2019 - £19,913). There were no outstanding liabilities at 31 August 2020 (2019 - £NIL).

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

11. STAFF COSTS (CONTINUED)

The average number of persons employed by the Charity during the year was as follows:

Educational activities Support staff	12 months ended 31 August 2020 No. 28 13 41	14 months ended 31 August 2019 No. 31 9
		40

The average headcount expressed as full-time equivalents was:

Educational activities Support staff	12 months ended 31 August 2020 No. 21 10 31	14 months ended 31 August 2019 No. 25 8
		33

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		12	months	14	months
			ended		ended
		31	August	31	August
			2020		2019
			No.		No.
In the band £60,001	- £70,000		-		1
In the band £80,001	- £90,000		1		-

During the year, no trustees received any remuneration or other benefits (2019 - £NIL).

The key management personnel of the charity comprise Chief Executive, Chief Operating Officer and Chief Programmes Officer. During the year they received salaries, pension contributions, employer's NI contributions and other employee benefits totalling £132,772 (2019 - £267,335 for 5 employees).

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
12. INTANGIBLE ASSETS COST At 1 September 2019 At 31 August 2020 AMORTISATION At 1 September 2019 Charge for the year At 31 August 2020 NET BOOK VALUE At 31 August 2020 At 31 August 2019	Software and website £ 46,008 46,008 25,657 8,383 34,040 11,968 20,351

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

13. TANGIBLE FIXED ASSETS

COST OR VALUATION At 1 September 2019 Additions Disposals At 31 August 2020 DEPRECIATION At 1 September 2019 Charge for the year On disposals At 31 August 2020 NET BOOK VALUE At 31 August 2020 At 31 August 2019	Freehold property £ 2,089,502 - - 2,089,502 836,165 40,085 - 876,250 1,213,252 1,253,337	Fixtures and fittings £ 496,584 2,631 (632) 498,583 414,913 35,941 (631) 450,223 48,360 81,671	Total £ 2,586,086 2,631 (632) 2,588,085 1,251,078 76,026 (631) 1,326,473 1,261,612 1,335,008

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

14. INVESTMENT PROPERTY

VALUATION At 1 September 2019 At 31 August 2020	Freehold investment property £ 80,000
	80,000

The freehold land holding in Oxfordshire was valued as at 31 August 2018 by Laws & Fiennes, Chartered Surveyors, on an open market valuation basis. No valuation exericse has been undertaken since leading to no unrealised gains/losses this year (2019 - £NIL). These independent valuers have recognised and relevant professional qualifications and have recent experience in the location and class of investment properties they valued.

In the opinion of the trustees, the estimated market values of the investment properties at the balance sheet date are not materially different from the amounts at which they are included in the financial statements.

15. DEBTORS

Trade debtors Other debtors Prepayments and accrued income	2020 £ 125,942 1,628 56,438 184,008	2019 £ 175,611 1,378 32,794
		209,783

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Other taxation and social security Accruals and deferred income Deferred income at 1 September 2019 Resources deferred during the year Amounts released from previous periods	2020 £ 28,321 16,481 114,923 159,725 2020 £ 327,730 100,000 (327,730) 100,000	2019 £ 52,081 20,979 346,744 419,804 2019 £ 29,900 327,730 (29,900) 327,730

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

17. STATEMENT OF FUNDS

STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR Balance at 1 September 2019 £ UNRESTRICTED FUNDS DESIGNATED FUNDS Mike Baker Memorial Fund 20,779 GENERAL FUNDS Unrestricted funds 1,916,483 Revaluation reserve 78,000 1,994,483 TOTAL UNRESTRICTED FUNDS 2,015,262 RESTRICTED FUNDS Inspiring Excellence Programme - Scholars Programme - - TOTAL OF FUNDS 2,015,262	Income £ 1,800 440,857 - 440,857 442,657 328,405 614,101 942,506 1,385,163	Expenditure £ - (766,798) - (766,798) (766,798) (282,495) (431,721) (714,216) (1,481,014)	Transfers in/out £ 783 (783) - (783) - - - - -	Balance at 31 August 2020 £ 23,362
UNRESTRICTED FUNDS DESIGNATED FUNDS Mike Baker Memorial Fund GENERAL FUNDS Unrestricted funds Revaluation reserve TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Inspiring Excellence Programme Scholars Programme TOTAL OF FUNDS
				1,589,759 78,000
				1,667,759
				1,691,121
				45,910 182,380
				228,290
				1,919,411

Restricted funds are those where the donor has specified a particular purpose for their donation. These donations are analysed by programme above. In the case of the Scholars Programme, some donors fund the whole programme, others chose to fund a programme in a particular geographic area.

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

17. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS DESIGNATED FUNDS Mike Baker Memorial Fund GENERAL FUNDS Unrestricted funds Revaluation reserve TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Inspiring Excellence Programme Scholars Programme Advisory Service / Villiers Park INVOLVE TOTAL OF FUNDS	Balance at 1 July 2018 £ 13,074 1,760,054 78,000 1,838,054 1,851,128 138,756 158,617 - 297,373 2,148,501	Income £ - 617,435 - 617,435 617,435 205,757 949,955 15,000 1,170,712 1,788,147	Expenditure £ - (453,301) - (453,301) (453,301) (344,513) (1,108,572) (15,000) (1,468,085) (1,921,386)	Transfers in/out £ 7,705 (7,705) - (7,705) - - - - - -	Balance at 31 August 2019 £ 20,779
					1,916,483 78,000
					1,994,483
					2,015,262
					- - -
					-
					2,015,262

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VILLIERS PARK EDUCATIONAL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

	Restricted	Unrestricted Total
	funds	funds funds
	2020	2020 2020
	£	£ £
Tangible fixed assets	-	1,261,612 1,261,612
Intangible fixed assets	-	11,968 11,968
Investment property	-	80,000 80,000
Current assets	228,290	497,266 725,556
Creditors due within one year	-	(159,725) (159,725)
TOTAL	228,290	1,691,121 1,919,411
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
		Unrestricted Total
		funds funds
		2019 2019
		£ £
Tangible fixed assets		1,335,008 1,335,008
Intangible fixed assets		20,351 20,351
Investment property		80,000 80,000
Current assets		999,707 999,707
Creditors due within one year		(419,804) (419,804)
TOTAL		2,015,262 2,015,262

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VILLIERS PARK EDUCATIONAL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

19. PENSION COMMITMENTS

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £36,528 (2019 - £50,113). Contributions totalling £3,802 (2019 - £6,432) were payable to the fund at the balance sheet date and are included in trade creditors.

20. OPERATING LEASE COMMITMENTS

At 31 August 2020 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	2020 £ 2,458 932 3,390	2019 £ 2,338 4,460
		6,798

21. RELATED PARTY TRANSACTIONS

The 0 has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the 0 at 31 August 2020.

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