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2022-12-31-accounts

Registered Charity No. 1181708

Edufund UK

Trustees’ Report and Accounts For the period from 1 January 2022 to 31 December 2022

EdufundUK Trustees Annual Report y/e 31/12/22 p1 of 15

Contents
Pages

Trustees’ Annual Report		 1 - 15

Receipts and Payments Account		 16

Statement of assets and liabilities		 17
Independent Examiner’s Report 18

EdufundUK Trustees Annual Report y/e 31/12/22 p2 of 15

Trustees’ Annual Report for the period

From 1/1/22 to 31/12/22

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 invite Hertfordshire state‐funded primary and secondary and special
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 £1,000 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. They are
limited to one application of £1,000 per academic year however due to the much‐
reduced number of pupils benefitting.

EdufundUK Trustees Annual Report y/e 31/12/22 p3 of 15

Sponsorships - 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 ‐ 20 primary schools who
focus for a set number of weeks on reading the same book and running their
English curriculum around it, culminating in a writing competition and award
ceremony. This initiative has been very successful and in 2022 we offered our
support in the form of an informal sponsorship whereby the project applies each
year by letter and may be awarded more than the normal maximum for single
primary schools. In 2022, we awarded £100 per Hertfordshire primary school
involved which came to £1,600.
We will consider other cross‐school collaborations, possibly also formalising
awards into a sponsoring arrangement for a 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
benefit
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
award of grants for school proposed learning initiatives.

EdufundUK Trustees Annual Report y/e 31/12/22 p4 of 15

Additional information (optional)

You may choose to include further statements where relevant about:

SORP


Policy on grant
making

Para
1.38		 Primary Grants
We aim to split the initial awards budget roughly equally between primary and
secondary schools. However, this is not a strict policy as award opportunities
depend on which schools apply to us and the balance of schools’ needs. Any
money remaining at the end of the year simply carries over into the EdufundUK
unrestricted funds account for the following year.
For the year ending 31/12/2022, 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.
By not having a Major Award(s) for primary schools we can help a larger number
of different schools given that there are c400 state primaries in Hertfordshire as
opposed to only c80 state secondary schools.
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 31/12/2022, we had some exceptional Major Award applications and
decided to increase the Major Award budget from c£30,000 to c£50,000. There
was also very high demand for Secondary Minor Awards so we increased the
Minor Award budget to over £40,000.
Minor Awards
We wanted to maintain the minor awards 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 gave out 5 full Major Awards but didn’t award any lesser awards
(such as Highly Commended or Commended). There was at least one award in
each focus area (1x STEM, 2x PE, 2x Effective Learning)
We chose to structure the prizes in this way for a number of reasons:
•
Departments in one school were not forced to compete against each other
for a single £10,000 prize.
•
There were some excellent applications and we judged 5 of them should be
awarded the main prize this year (inc. one focussed on SEND provision).
Our grant policy will remain under constant review for both sectors. For
example, we shall look at the response rate and feedback for our Major Awards
and we will also consider the award structure and amounts in light of rapidly
rising prices and changingschool needs.

EdufundUK Trustees Annual Report y/e 31/12/22 p5 of 15


Policy on social
investment including
program
related investment

Para
1.38		 n/a

Contribution made
by
volunteers

Para
1.38		 n/a

Other

 n/a

EdufundUK Trustees Annual Report y/e 31/12/22 p6 of 15

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.





Para
1.20		 Amount Paid to Hertfordshire Schools
1 Jan 22 – 31 Dec 22
Total Amount Previous Year
Primary
£72,172
£38,223
Secondary Minor Awd
£44,462
£31,382
Secondary Major Awd
£50,000
£30,000
Total
£166,634
£99,605
Successful Applications
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
(Grants Awarded – up to £1,000 – but not necessarily paid out in 2022)
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
2022(inc. 1 Sponsorship)
49
72
47
62
The number of awards increased greatly this year together with the number of
different schools applying.
Secondary Minor Awards
(Grants Awarded – up to £1,000 – but not necessarily paid out in 2022)
The number of secondary awards has shot up and the number of different
schools applying has also increased.
Year (financial)
Number of Awards
Different Schools
2018 (2 terms)
25
17
2019
29
18
2020
40
20
2021
2022
32
47
23
28

EdufundUK Trustees Annual Report y/e 31/12/22 p7 of 15

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
2022
Awards: 5x £10K 27 19

We have maintained the high number of applications and different schools applying for our Major awards. We think this may be due to our decision to stick to the full £10,000 grants.

A number of Major Award applications are for a contribution of the £10,000 towards a 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?). We will set a maximum project total cost of £20,000 for next year to ensure our contribution is at least 50%.

First Time Applications (Academic Year)

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 Schools Applying for the first time
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
2021/22 30 20

We have had an excellent academic year for schools applying for the first time. Many of these schools will be likely to apply again in subsequent years.

Award Administration

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

• We continue to use bank transfers for awards rather than cheques.

EdufundUK Trustees Annual Report y/e 31/12/22 p8 of 15

EdufundUK Trustees Annual Report y/e 31/12/22 p9 of 15

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. 2022 feedback highlights include:

Award Process

(xx) = Previous Year

Average (/10)

Award Impact

(xx) = Previous Year

Average (/10)

EdufundUK Trustees Annual Report y/e 31/12/22 p10 of 15

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		 n/a
Investment
performance
against objectives		 Para
1.41		 n/a
Other
 n/a

Financial Review

Review of the
charity’s financial
position at the end
of the period		 Para
1.21		 Total donations received for this financial year equalled £150,000 (2021 -
£150,000) and we paid £166,634 (2021 - £99,605) to schools (plus we
awarded a further £1,331 towards the year end but it was not paid until
January 2023).
We ended the year with a current account balance of £579 (2021 -
£57,860).
The charity aims to donate roughly £110,000 to primary and secondary
state-funded schools (currently only in Hertfordshire) each year plus cover
all costs. We had high demand for all awards this year plus awarded an
additional two major awards and so exceeded this target.
We had reserves of c£58,000 from the previous year due to careful fiscal
management and also £150,000 funding committed to us for January
2023 and so we deemed it prudent to allow the increase in spending and
temporary low level of reserves towards the year end.
Statement
explaining the
policy for holding
reserves stating
why they are held		 Para
1.22		 The trustees aim to maintain a liquid balance sufficient to cover its
operating costs for 3 months and £10,000 donations to schools which
equates to c£20,000. This has been reduced from last year to release
more money into schools.
Due to very high demand, the trustees decided to temporarily reduce this
reserve and we ended the year with £579 in our account. They deemed
this prudent as £150,000 was committed to us as a donation in January
2023.
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		 The amount held at the year-end was £579 (2021 - £57,860).
This total will be flexible, diminishing as each term in the academic year
passes. See above.

EdufundUK Trustees Annual Report y/e 31/12/22 p11 of 15

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

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

EdufundUK Trustees Annual Report y/e 31/12/22 p12 of 15

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.

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 (Chair of Trustees/Operations Director) and Linda (Non-executive
trustee) Butterfield made a donation of £150,000 (2021: £150,000) to the
charity in the period under review.
Corrina Mottram (non-executive trustee) is married to Gareth Mottram who
is retained for regular professional services at a pro-rata market rate for
three days a week. The total amount paid during the year amounted to
£23,711 (2021: £22,210). Corrina absents herself from all trustee
discussions on Gareth’s appointment, duties and remuneration.
Linda Butterfield worked as a teacher in Barnwell School (Secondary) until
May 2022 and is now no longer associated with the school. Linda did not
apply for awards for Barnwell from the charity herself (No applications were
made from Barnwell School for y/e 2022 or 2021).
Linda Butterfield is Chair of Governors at St. Mary’s C of E school (primary)
in Ware. The school has not yet applied for funding to the charity and Linda
will not apply for any such application in the future should they choose to
make one.

EdufundUK Trustees Annual Report y/e 31/12/22 p13 of 15

Other

Reference and Administrative details

Charityname EdufundUK
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 Examiners Price Bailey LLP
Anglia House, 6 Central Avenue
St Andrews Business Park
Thorpe St Andrew
Norwich
NR7 0HR
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 paid for 3 days a week to carry out the role of
Communications Director and help assess award applications.

Marketing, communications, website update, planning, administration and
award assessment services (3 days a week).

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
2 Linda Butterfield Non-executive trustee
3 CorrinaMottram Non-executive trustee

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

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

EdufundUK Trustees Annual Report y/e 31/12/22 p14 of 15

Funds held as custodian trustees on behalf of others

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

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
30 Oct 2023
David William Butterfield Chair David William Butterfield (Oct 30, 2023,
9:30am)

EdufundUK Trustees Annual Report y/e 31/12/22 p15 of 15

Charity Name No (if any) EdufundUK 1181708 Receipts and payments accounts CC16a For the period Period start date Period end date To from 01/01/2022 31/12/2022

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
150,000
995
562
-
-
-
-
-
151,557
-
-
-
151,557
166,634
23,711
-
1,933
12,617
1,130
1,296
955
562
-
-
208,838
-
-
-
208,838
- 57,281
-
57,860
579		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
150,000
995
562
-
-
-
-
-
151,557
-
-
-		 Total funds
to the nearest £
150,000
995
562
-
-
-
-
-
151,557
-
-
-		 Last year
to the nearest £
Donation 150,000 150,000
Refund of doublepayment(S141) 995 -
Refund ofpayment for cancelled trip (S131) 562 -
- -
- -
- -
- -
- -
Sub total(Gross income for AR) 151,557 150,000
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
151,557 150,000
166,634
23,711
-
1,933
12,617
1,130
1,296
955
562
-
-
208,838
-
-
-
208,838
- 57,281
Donations to schools 166,634 99,605
Professional Services GM 23,711 22,210
Professional Services - Other - 135
Other Expenses 1,933 -
Office Rent/Costs 12,617 12,261
Catering- Meetings 1,130 -
Bank Charges 1,296 828
Double Payment(notyet refunded) 955 -
Payment for cancelled trip (refunded) 562 -
- -
- -
**Sub total ** 208,838 135,039
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
135,039
- 57,281 - - - 57,281 14,961
- - - - -
57,860 - - 57,860 42,899
579 - - 579 57,860

CCXX R1 accounts (SS)

19/10/2023

161

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

Categories
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Haileybury Turnford (S145)
Shenley Primary (P216)
Details
Details
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Owed by Herts and Essex School - Double
Payment (S94)
Details
Independent Examiner's Fee #4192		 Unrestricted funds
to nearest £
579
-
-
579
OK
Unrestricted funds
to nearest £
955
-
-
-
-
-
Fund to which asset
belongs
Fund to which asset
belongs
Fund to which liability
relates
Unrestricted Funds
Unrestricted Funds
Unrestricted Funds		 Restricted
funds
to nearest £
-
-
-
-
OK
Restricted
funds
to nearest £
-
-
-
-
-
-
Cost (optional)
-
-
-
-
-
Cost (optional)
-
-
-
-
-
-
-
-
-
Amount due
(optional)
1,700
385
946
3,031		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Independent Examiner's Fee #4192 Unrestricted Funds 1,700
Shenley Primary (P216) Unrestricted Funds 385
Haileybury Turnford (S145) Unrestricted Funds 946
3,031

Signed by one or two trustees on behalf of all the trustees

Signature

Date of Print Name approval 30 Oct 2023 David William Butterfield

David William Butterfield (Oct 30, 2023, ~~9:30am)~~

CCXX R2 accounts (SS)

19/10/2023

2 17

Independent Examiner's Report to the Trustees of EduFund UK

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 1 to 17.

Responsibilities and basis of report

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

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

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity 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.

Suzanne Goldsmith FCA

Price Bailey LLP, Chartered Accountants

Anglia House, 6 Central Avenue St Andrews Business Park Thorpe St Andrew Norwich Norfolk NR7 0HR

Date: 30 October 2023

18