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2023-12-31-accounts

Registered Charity No. 1181708

Edufund UK

Trustees’ Report and Accounts For the period from 1 January 2023 to 31 December 2023

EdufundUK Trustees Annual Report y/e 31/12/23 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 31/12/23 p2 of 15

Trustees’ Annual Report for the period

From 1/1/23 to 31/12/23

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
•
learning to learn (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 Learning to Learn) 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
smaller number of pupils benefitting.

EdufundUK Trustees Annual Report y/e 31/12/23 p3 of 15

Sponsorships - Cross School Initiatives
Stevenage and North Herts Writing Project
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. We have been
supporting this initiative through a minor award for a number of years and in
2022 we offered our ongoing support in the form of a year‐by‐year sponsorship.
Under this arrangement, the project applies each year by letter and may be
awarded more than the normal maximum for single primary schools. We aim to
award £100 per Hertfordshire primary school involved in the initiative each year.
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 award criteria which
is explained on our website.

The charity thus far had invited applications solely from state‐funded schools in
Hertfordshire. The demand from these 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 31/12/23 p4 of 15

You may choose to include further statements where relevant about:

Additional information (optional)

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 31/12/2023, we decided to:
•
Continue the maximum award per school of up to £1,000 each academic year
(staggered smaller bids over the academic year are permitted)
•
Change the Effective Learning category to Learning to Learn (L2L). This
category now focusses on the teaching of skills/techniques to learn more
effectively and does not include resources (e.g. specialised equipment and
subject‐specific software) to facilitate more effective learning. These
resources can still be applied for in the subject specific categories.
•
Split Effective Learning/Learning to Learn from Outdoor Learning (O/L) due to
the above changes.
•
Continue with the wider focus areas (compared to secondary’s PE, STEM and
Effective Learning) of STEM, PE, English, Foundation Subjects, Learning to
Learn and 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 also think the fast turnaround
and swift project implementation of these smaller awards really benefit 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.
Secondary Grants
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 returned to awarding 3 Major Awards (of £10,000 each) with one
award in each focus area (STEM, PE, Learning to Learn).
We chose to structure the awards in this way for a number of reasons:
•
Departments in one school are not forced to compete against each other for
a single £10,000 prize.
•
We want to support all three focus areas as much as possible.
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 changing school needs. We may vary the number of major
awardsgranted accordingto budgetaryconsiderations.

EdufundUK Trustees Annual Report y/e 31/12/23 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 31/12/23 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 23 – 31 Dec 23
Amount
Previous Year
Primary
£44,725
£72,172
Secondary Minor Awd
£32,619
£44,462
Secondary Major Awd
£30,000
£50,000
Total
£107,344
£166,634
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 maximums 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)
(May include awards granted but not paid out until the following year)
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)
2023(inc. 1 sponsorship)
49
72
54
47
62
50
The number of awards has decreased due to a need to rebuild our reserves by
setting termly limits on awards. Given these constraints, we are pleased with
the large number of schools successfully applying for our awards.
Secondary Minor Awards
(Grants Awarded – up to £1,000)
(May include awards granted but not paid out until the following year)
The number of secondary minor awards has decreased due to a need to rebuild
our reserves by setting termly limits on awards. Given these constraints, we are
pleased with the number of successful applications and schools applying for an
award in two or more subject areas.
Year (financial)
Number of Awards
Different Schools
2018 (2 terms)
25
17
2019
29
18
2020
40
20
2021
2022
2023
32
47
32
23
28
22

EdufundUK Trustees Annual Report y/e 31/12/23 p7 of 15

Secondary Major awards

(£10,000 ‐ 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
2023 26 18
Awards: 3x £10K

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 were again for a contribution of the £10,000 towards a more expensive project. This was not the preferred purpose of the Major Awards. We will continue to 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 maintain the maximum project total cost of £20,000 for next year to ensure our contribution is at least 50%.

We will also consider awarding fewer Major Awards in 2024 to help rebuild up our reserves.

First Time Awards (Academic Year 2022/23)

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

Applicants Awarded a Grant for the first time Applicants Awarded a Grant for the first time
Academic Year NewApplicants NewApplicants
(Sept – July) from Primary Schools from Secondary Schools
(Minor Awards)
2017/18 n/a 7
2018/19 n/a 15
2019/20 56 17
2020/21 26 14
2021/22 30 20
2022/23 38 22

EdufundUK Trustees Annual Report y/e 31/12/23 p8 of 15

We have had an excellent academic year for applicants applying for the first time Judging from our past experience, many of these members of staff are likely to apply again in subsequent years from their existing or new schools. We are also very pleased to have awarded grants to some schools for the first time: Primary: 23 (2022 ‐ 22) of the 38 (2022 ‐ 30) new applicants from primary schools came from schools who had not been awarded a grant before.

Secondary: 4 (2022 ‐ 5) of the 22 (2022 ‐ 20) new minor award applicants from secondary and special schools (inc. PRUs) came from schools who had not been awarded a grant before.

Award Administration

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

EdufundUK Trustees Annual Report y/e 31/12/23 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 requires a term or so to judge the learning benefits of the funded equipment/activity). We are quite strict on receiving the award impact feedback from schools as this acts as a check on the effective use of the charity’s funds to meet our objectives.

The responses continued to be very positive.

Award Process Feedback

(xx) = Previous Year

Average /10 (of all responses up to year end)

Award Impact Feedback

(xx) = Previous Year

Average /10 (of all responses up to year end)

EdufundUK Trustees Annual Report y/e 31/12/23 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£200,000(2022 -
£150,000) and we paid£107,344(2022 - £166,634) to schools (including
£2,286 for grants awarded in late 2022).
The charity aims to donate roughly £100,000 to primary and secondary
state-funded schools (currently only in Hertfordshire) each year plus cover
all costs.
We ended the year with a current account balance of £51,816 (2022 -
£579) to carry over into 2024.
At the end of the previous year (2022), we had reserves of just £579 to
carry over into 2023. This was due to very high demand from schools and
a decision to use the majority of our funds to meet it. However, we had a
donation of £150,000 guaranteed for January 2023. Due to tight
budgetary control of a new monthly donations limit, we greatly improved
this situation and carried forward £51,816 unrestricted funds at the end of
2023.
Statement
explaining the
policy for holding
reserves stating
why they are held		 Para
1.22		 Going forward, the trustees aim to maintain a minimum liquid reserve
sufficient to cover its operating costs for 3 months and £15,000 for
donations to schools. This equates to c£30,000.
If reserves build significantly in the future, the charity will adjust the
monthly award budgets and possibly consider introducing additional
awards
Amount of reserves
held		 Para
1.22		 The total reserves held at the year end was £51,816 (2022 - £579). The
trustees will aim to keep a minimum of c£30,000 in reserves (see
above).
Reasons for holding
zero reserves
Para
1.22		 N/A

EdufundUK Trustees Annual Report y/e 31/12/23 p11 of 15

Details of fund Para 1.24[N/A ] materially in deficit Explanation of any Para 1.23[N/A ] uncertainties about the charity continuing as a going concern

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		 N/A
Investment policy
and objectives
including any social
investment policy
adopted		 Para
1.46		 N/A
A description of the
principal risks
facing the charity		 Para
1.46		 N/A
Other N/A

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		 Charitable Incorporated Organisation (CIO)

EdufundUK Trustees Annual Report y/e 31/12/23 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 remaining 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		 N/A

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 Butterfield (Non-
executive trustee) made a donation of £200,000 (2022 - £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
£24,487 (2022 - £23,711). Corrina absents herself from all trustee
discussions on Gareth’s appointment and remuneration.
Linda Butterfield worked as a teacher in Barnwell School (Secondary) until
May 2022 and is now no longer associated with the school. (No payments
were made to Barnwell School in 2023)
Linda is Chair of Governors at St. Mary’s C of E school (primary) in Ware.
Linda does not apply for any funding from EdufundUK herself. (No
payments were made to St. Mary’s C/E School in 2023)

Other
 n/a

EdufundUK Trustees Annual Report y/e 31/12/23 p13 of 15

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 retained for 3 days a week to carry out the role of
Communications Director and help assess award applications.
Gareth’s main duties are: application assessment (with at least one
trustee), award administration, marketing, communications, website
maintenance, strategic planning, budgeting and internal accounts
preparation, liaison with independent examiner (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 (ifany)
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 31/12/23 p14 of 15

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
05 Aug 2024
David William Butterfield Chair
~~David Butterfield (Aug 5, 2024, 3:35pm)~~

EdufundUK Trustees Annual Report y/e 31/12/23 p15 of 15

EdufundUK No (if any) 1181708 Receipts and payments accounts CC16a For the period Period start date Period end date To from 01/01/2023 31/12/2023

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
200,000
2,816
-
-
-
-
-
-
202,816
-
-
-
202,816
107,344
24,487
2,179
13,098
1,650
960
1,861
-
-
151,579
-
-
-
151,579
51,237
-
579
51,816		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
200,000
2,816
-
-
-
-
-
-
202,816
-
-
-
202,816
107,344
24,487
2,179
13,098
1,650
960
1,861
-
-
151,579
-
-
-
151,579
51,237		 Total funds
to the nearest £
200,000
2,816
-
-
-
-
-
-
202,816
-
-
-
202,816
107,344
24,487
2,179
13,098
1,650
960
1,861
-
-
151,579
-
-
-
151,579
51,237		 Last year
to the nearest £
Donations 200,000 150,000
Refunds for incorrectpayments 2,816 1,557
- -
- -
- -
- -
- -
- -
Sub total(Gross income for
AR)		 202,816 151,557
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
151,557
Donations to Schools 107,344 166,634
Professional Services - GM 24,487 23,711
Other Expenses 2,179 1,933
Office Rent/Costs 13,098 12,617
Catering- Meetings 1,650 1,130
Bank Charges 960 1,296
Double Payment(repaid) 1,861 955
Payment for cancelled trip - 562
- -
**Sub total ** 151,579 208,838
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
208,838
51,237 - - 51,237 - 57,281
- - - - -
579 - - 579 57,860
51,816 - - 51,816 579

p161

CCXX R1 accounts (SS)

10/07/2024

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
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
As per bank statement
Details
Details
Details
Prof. Services GM (Dec. Invoice #202136 -
late sending in. Paid 2-1-24)
Independent Examiner's Fee
Signature
David Butterfield (Aug 5, 2024, 3:35pm)		 Unrestricted
funds
to nearest £
51,816
-		 Unrestricted
funds
to nearest £
51,816
-		 Restricted
funds
to nearest £
-
-
-
-		 Endowment
funds
to nearest £
51,816 - -
- -
- - -
51,816 - -
OK
OK
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
2,226
Unrestricted Funds
1,800
-
-
-
Print Name
David William Butterfield		 OK OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
David William Butterfield 05 Aug 2024
David Butterfield (Aug 5, 2024, 3:35pm)

p172

CCXX R2 accounts (SS)

10/07/2024

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 2023 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: 9 August 2024

p18