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2021-12-31-accounts

Registered Charity No. 1181708

Edufund UK

Trustees’ Annual Report and Accounts For the year ended 31 December 2021

Contents

Page

Trustees’ Annual Report for the year ended 31 December 2021

Charity name: EdufundUK

Charity registration number: 1181708

Objectives and Activities

SORP
Summary of the
purposes of the
charity as set out
in its governing
document		 Para
1.17		 For the public benefit to advance the education of pupils in state primary and
secondary schools in England and Wales by promoting interest, motivation,
understanding and attainment in the following curriculum areas:
•
science, technology, engineering and mathematics
•
physical education and
•
creative/effective learning (in any subject)
Summary of the
main activities in
relation to those
purposes for the
public benefit, in
particular, the
activities, projects
or services
identified in the
accounts.		 Para
1.17
1.19		 Edufund UK invited Hertfordshire state‐funded primary and secondary schools to
submit applications for “projects” which we will fund (e.g. specific resources,
training, outside workshops, trips etc).
Secondary Schools Awards
Minor Awards
Secondary schools could be awarded up to £1,000 in each of our 3 focus areas
(PE, STEM and Effective Learning) per academic year.
Major Awards
Secondary schools could also apply for our annual Major Awards (£10,000) for
larger projects (maximum of 3 applications per school for a Major Award, 1
application for each of our 3 focus areas).
Primary Schools Awards
Due to the much larger number of primaries (compared to secondaries) in the
county, each school is limited to a maximum bid of £1,000 per school per
academic year. Schools can apply for smaller amounts over the year up to the
maximum £1000 and be focussed on a wider range of subjects than is the case
with secondary schools. This reflects the different scale and needs of primary
schools and enables us to help a larger percentage of the c400 primaries in the
county.
Special Schools
Hertfordshire State‐Funded special schools are treated the same as mainstream
primary and secondary schools and very welcome to apply for funding.
Cross School Initiatives
We have been awarding £1,000 to the Stevenage and North Herts Writing Project
for a number of years. This is a collaboration of 10+ primaries who focus a couple
of weeks on readingthe same book and runningtheir English curriculum around

page 1

it, culminating in a writing competition and award ceremony. This initiative has been very successful and we will consider other cross‐school collaborations, possibly formalising awards into a sponsoring arrangement for a fixed number of years. Overall We believe schools have the best idea which activities/resources will provide most benefit to their particular pupils at any particular time. Thus, we believe we provide the most public benefit (enhancement of education) by letting schools propose their own projects and then checking they meet our learning/ motivation/wellbeing criteria. The charity thus far had invited applications solely from state‐funded schools in Hertfordshire. The demand from schools to date seems to be roughly matching the available annual funds and thus, we will continue to solely support Hertfordshire state‐funded schools as opposed to “ state primary and secondary schools in England and Wales ” for the foreseeable future.

Statement confirming
whether the trustees
have had regard to
the guidance issued
by the Charity
Commission on public		 Para
1.18		 The Trustees confirm that they have complied with their duty to have due regard
to the guidance on public benefit published by the Charity
Commission in exercising their powers and duties. The public benefit of the
Charity’s activities is the enhancement of learning, attainment and motivation of
primary and secondary state‐school pupils. This is achieved principally by the
benefit award of grants for school proposed learning initiatives.

page 2

Additional information (optional)

You may choose to include further statements where relevant about:

SORP
Policy on grant
making		 Para
1.38		 Primary Grants
We continue to split the initial awards budget approximately 50:50 between
primary and secondary schools. However, this is not a strict policy as award
opportunities depend on which schools apply to us. Any money remaining at the
end of the year simply carries over into the EdufundUK unrestricted funds
account for the following year.
In 2021, over £38,000 was paid to Primary Schools. A further c£7000 was also
awarded to primaries applying close to our year end but was not processed until
January 2022.
For the year ending 31/12/2021, we decided to:
•
Continue to only have smaller awards (up to £1,000 per school, per academic
year) for primary schools (staggered smaller bids over the academic year
permitted)
•
Continue with the wider focus areas (compared to secondary’s PE, STEM and
Effective Learning) of STEM, PE, English, Other Foundation and Effective
Learning/Outdoor Education.
These differences from the secondary grants policy allow us to help a larger
proportion of different primary schools given that there are c400 state primaries
in Hertfordshire as opposed to c80 state secondary schools. If we had Major
Awards for primary schools, this would dramatically reduce the number of
schools we could help in an academic year.
We feel the wider range of focus subjects better reflects the needs of primary
schools because their work in various subjects is very often integrated (e.g.
centred on a topic theme for the half‐term) and they very rarely have distinct
subject departments. We also think the fast turnaround and swift project
implementation of these smaller awards really benefit schools.
Secondary Grants
For our y/e 31/12/2021, we decided to increase the Major Awards budget from
c£20,000 to c£30,000 and aim to maintain c£30,000 of Minor Awards
Thus, we nominally allocated £60,000 to Secondary Schools and actually paid out
just over £61,000 (inc. £5000 Major Award Highly Commended delayed from the
previous year. A further £2,000 was awarded but not processed until 2022).
Minor Awards
We wanted to maintain the minor award budget as we believe the shorter
application form, fast turnaround and project implementation of the smaller
awards is beneficial to schools.
Major Awards
This year we reverted to the original structure of 1 x £10,000 award in each focus
area as opposed to the previous year when there was one overall Winner of
£10,000 (in any of the focus areas) and two Highly Commended award winners of
£5,000 each (in any focus area).

page 3

We chose to structure the prizes in this way for a number of reasons:

Policy on social
investment including Para
program 1.38
related investment
Contribution made
by
volunteers		 Para
1.38
Other

page 4

Achievements and Performance

SORP

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

SORP
Summary of the
main achievements
of the charity,
identifying the
difference the
charity’s work has
made to the
circumstances of its
beneficiaries and
any wider benefits to
society as a whole.
Para
1.20		 Amount Donated to Hertfordshire Schools
1 Jan 21 – 31 Dec 21 Total Amount
Number of
Different
Applications
Schools
Primary1
£38,223
49
47
Secondary Minor Awd2
£31,383
32
23
Secondary Major Awd
£30,000
28
21
Total
£99,606
109
80
1*Excluding £6785 awarded but not processed until early 2022
2Excluding £2000 minor grants awarded but not processed until early 2022
Overall Applications (Financial Year)
NB: Schools are restricted to a maximum award value on an academic year basis whereas we report on a
calendar year basis. This means that some schools may appear to receive more than the stated maximum in
one calendar year, but we keep careful track of awards given to enforce the academic year maximums.
Primary School Awards(Successful applications – up to £1,000)
We began donating to Hertfordshire state‐funded primary schools from
September 2019.
Year (financial)
Number of Awards
Different Schools
2018
n/a
n/a
2019 (1 term)
24
22
2020
68
63
2021
49
47
The number of awards and schools has dropped this year but is still pleasingly
high.
Secondary Minor Awards(Successful applications – up to £1,000)
Although the number of secondary minor awards has dropped, we have
continued to increase the number of different secondary schools successfully
applying for our Minor Awards.
Year (financial)
Number of Awards
Different Schools
2018 (2 terms)
25
17
2019
29
18
2020
40
20
2021
32
23*

page 5

Secondary Major awards (Competitive process)

Year (financial) Number of Applications Different Schools
2018 (2 terms) 8 7
Awards: 3x £10K and 1x 1K
2019 26 23
Awards: 3x £10K and 3x £5K
and 3x £1K
2020 21 16
Awards: 1x £10K and 2x £5,K
and 2x £1K
2021 28 21
Awards: 3x £10K

We have increased the number of applications and different schools applying for our Major awards from a dip in 2020. We think this increase may be due to our decision to return to 3 full £10,000 grants.

A number of Major Award applications are for the £10,000 to contribute towards a much more expensive project. This was not the intended purpose of the Major Awards. We will monitor this situation to assess the relevance of a £10,000 award to schools’ needs (e.g. is it a large enough sum to fund a substantial project on its own or would we be better to use the £30,000 to increase the number of minor awards etc?)

First Time Applications (Academic Year 20-21)

We value schools who regularly apply for awards year after year but it is also important to encourage new schools to apply. School award limits are set per academic year so the figures below reflect this (i.e. include the autumn term of the previous year to these accounts and not the autumn term of this accounting year.)

Schools Applying for the first time (by Academic Year)

Academic Year NewPrimary NewSecondary
(Sept – July) Schools Applying School Applying
(Minor Awards)
2017/18 n/a 7
2018/19 n/a 15
2019/20 56 17
2020/21 26 14

Award Administration

We continue to maintain an efficient turnaround of application to award for a number of reasons:

page 6

Award Winners Feedback

In October 2019, we set up a Google Forms questionnaire for award recipients to ask about the application process and the academic impact of their award. Then, in January 2021, we split the form into two separate questionnaires – one to assess the process (which could be filled in shortly after applying) and the second one to assess the award’s impact (which required a term or so to judge the benefits).

The responses were very positive. For example, since splitting the forms:

Award Process

(58 responses during 2021)

Average (/10)

Award Impact

(76 responses during 2021)

Average (/10)

Additionally:

page 7

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements
against objectives
set		 Para
1.41		 See above.
Performance of
fundraising
activities against
objectives set		 Para
1.41
Investment
performance
against objectives		 Para
1.41
Other

Financial Review

Review of the
charity’s financial
position at the end
of the period		 Para
1.21		 Total donations for this financial year equalled £150,000 and we paid
£99,606 to schools (plus a further £8,785 awarded but not processed until
January 2022).
We ended the year with a current account balance of £57,860.
This is in line with the charity’s current aim of donating a total of
c£110,000 to primary and secondary state-funded schools (currently only
in Hertfordshire) each year plus covering all costs.
Statement
explaining the
policy for holding
reserves stating
whytheyare held		 Para
1.22		 The trustees undertake to maintain a liquid balance sufficient to cover its
operating costs for 3 months and one term’s donations to schools which
equates to c£45,000. If reserves build significantly in the future, the charity
plans to introduce additional awards and/or larger termly award budgets.
Amount of reserves
held		 Para
1.22		 This total will be flexible, diminishing as each term in the academic year
passes. See above.
Reasons for holding
zero reserves
Para
1.22		 N/A
Details of fund
materially in deficit		 Para
1.24		 N/A
Explanation of any
uncertainties about
the charity
continuing as a
goingconcern		 Para
1.23		 N/A

page 8

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s
principal sources of
funds (including
anyfundraising)		 Para
1.47
Investment policy
and objectives
including any social
investment policy
adopted		 Para
1.46
A description of the
principal risks
facing the charity		 Para
1.46
Other

Structure, Governance and Management

Description of
charity’s trusts:
Type of governing
document
(trust deed, royal
charter)		 Para
1.25		 Foundation Model Constitution Document
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para
1.25		 CIO
Trustee selection
methods
including details of
any constitutional
provisions e.g.
election to post or
name of any person
or body entitled to
appoint one or more
trustees

Para
1.25		 Control
1. Only trustees can vote – equally weighted votes (apart from the Chair's
casting vote in the event of a tie).
2. Always a minimum of two family trustees and always a majority of family
trustees on the board.
a. if 2 family trustees cannot be co‐opted, the charity must wind up
within 2 years with all monies split equally between state‐funded
secondary schools in Hertfordshire.
3. A family trustee should always be the Chair, and the Chair will be elected
by the Family Trustees. The Chair has the casting vote in the event of a
tie.
4. Appointments: to the board of trustees‐only family trustees can vote on
appointments.

page 9

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and
procedures
adopted for the
induction and
training of
trustees		 Para
1.51
The charity’s
organisational
structure and any
wider network with
which the
charity works		 Para
1.51		 Day to day management of the charity is delegated to David Butterfield
(Operations Director) who has oversight of all awards to schools and
planning of activities.
Award applications are considered during the working week by David
Butterfield and Gareth Mottram. Each application is carefully judged
against our award criteria with main points being ticked off and strengths
and any issues being highlighted on a copy of the application form as
required.
All three trustees have access to the updated award spreadsheets and all
charity records at all times.
Relationship with
any related
parties		 Para
1.51		 David and Linda Butterfield made a donation to the charity in the period
under review.
Corrina Mottram is married to Gareth Mottram who is retained for regular
professional services. Corrina absents herself from all trustee discussions
on Gareth’s appointment and remuneration.
Linda Butterfield currently works as a teacher at Barnwell secondary school
(Stevenage). Linda does not apply for awards for Barnwell from the charity
herself.
Other

page 10

Reference and Administrative details

Charityname Edufund UK
Other name the charityuses None
Registered charitynumber 1181708
Charity’s principal address Office 9G
Thremhall Park
Start Hill
Bishops Stortford
CM22 7WE
Bankers HSBC Private Bank
8 Cork Street
London
W1S 3LJ
Independent examiner Alison Ward FCCA
Alison Ward Accountants
28 Hills Road
Buckhurst Hill
IG9 5RS
Phone: 0770 445 8284
Email: info@alisonwardaccountants.com
Regular marketing,
communications and
administration services.
Gareth Mottram
(The Red Button Press)		 EdufundUK saves money by not having any employees at the moment.
Gareth Mottram is retained for 3 days a week to carry out the role of
Communications Director and help assess award applications.
Marketing, communications, planning, administration and award decision
services (3 days a week).
Office 9G
Thremhall Park
Start Hill
Bishops Stortford
CM22 7WE

Names of the charity trustees who manage the charity

Trustee name Office (if any) Dates acted if not
for whole year		 Name of person (or
body) entitled to
appoint trustee (if any)
1 David Butterfield Chair
Operations Director

Corporate trustees – names of the directors at the date the report was approved

Director name
Name of trustees holdingtitle topropertybelongingto the charity
Trustee name Dates acted if not for whole year

page 11

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional) Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Full Name Position
(eg Secretary, Chair, etc)		 Signature Date

page 12

Independent examiner’s report to the trustees of Edufund UK

For the year ended 31 December 2021

I report to the trustees on my examination of the accounts of Edufund UK (the CIO) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in

connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the CIO as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Alison Ward FCCA

Alison Ward Accountants

28 Hills Road

Buckhurst Hill

Essex IG9 5RS

18 July 2022

page 13

Edufund UK
Charity Name		 Edufund UK
Charity Name		 Edufund UK
Charity Name		 1181708
No (if any)		 1181708
No (if any)		 1181708
No (if any)		 CC16a
For the period
from		 01/01/2021
Period start date		 To 31/12/2021
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
150,000
-
-
-
-
-
-
150,000
-
-
-
150,000
99,605
22,210
135
12,261
828
-
-
-
135,039
-
-
-
135,039
14,961
-
42,899
57,860		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
150,000
-
-
-
-
-
-
150,000
-
-
-		 Last year
to the nearest £
Donation 150,000 150,000
- -
- -
- -
- -
- -
- -
Sub total(Gross income for
AR)		 150,000 150,000
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
150,000 150,000
99,605
22,210
135
12,261
828
-
-
-
135,039
-
-
-
135,039
14,961
Donations to schools 99,605 111,961
Professional Services GM 22,210 22,210
Professional Services - Other 135 855
Office Rent 12,261 11,059
Bank Charges 828 888
- -
- -
- -
Sub total 135,039 146,973
A4 Asset and investment
purchases, (see table)
-
-
Sub total - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
146,973
14,961 - - 14,961 3,027
- - - - -
42,899 - - 42,899 39,872
57,860 - - 57,860 42,899

page 14

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Grants Awarded not yet paid
Signature
Details
Details
Total cash funds
Details
Details
Details
Independent Examiner's Fee #4192		 Unrestricted funds
Restricted
funds
to nearest £
to nearest £
57,860
-
-
-
-
-
57,860
-
Unrestricted funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which asset
belongs
Cost (optional)
-
-
-
-
-
Fund to which asset
belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which liability
relates
Amount due
(optional)
Unrestricted Funds
900
8,785
9,685
Print Name
Unrestricted Funds		 Endowment
funds
to nearest £
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval

page 15