Charity number: 1188315
THE SPALDING MEMORIAL EDUCATIONAL TRUST
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2020
THE SPALDING MEMORIAL EDUCATIONAL TRUST
| CONTENTS | ||
|---|---|---|
| Page | ||
| Annual report | 1 | |
| Independent examiner’s report to the trustees | 2 | |
| Receipts and payments account | 3 | |
| Statement of assets and liabilities | 4 |
THE SPALDING MEMORIAL EDUCATIONAL TRUST ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020 Trustaes The Revd Canon J. Collis M.A. (Chair) ProfessorT.H. Barrett M.A., Ph.D. Professor R.P. Gordon Ph.D., Litt.D. Dr S.M.A. Imtiaz., Ph.D. Dr E. Kessler MBE., Ph.D. Professor A S. King, DPhil_ Professor J.J. Lipner M.A., Ph_D. Professor J. Stiebert B.A. {Hons.I, M.Phil., Ph.D, Dr K Ward M.A. Ph.D. Charfty roglstered number 1188315 Prlnclpal address The Secretary The Spalding Memorial EdLKational Trust P.0. Box 85 StowmaTkel IP14 3NY Oblecls of the Trust The Spalding Memorial Educational Trust was registered as a Charitable Incorporated Organisation on 3 March 2020. The objects of the CIO are for the public benefit to.. (11 Promote ethical, phi1080phical and religious educatFon, as far as possible throughout the world, through the support of inler-religious study lo promote mutual understsnding and respect. 121 Promote any other Gharitsble purpose according lo the laws of England and Wales as the Trustees may from tme to lime think fil. Honorary Treasurer Mr l.C. Strachan M.A., C.A. Actrvitieg The award of grants to support inter-religious 81uthes. Signed on behalf of the Trustees.. Dated.. The Chair vd Canon J. Colli8 M.A. Approvéd by the Trustees Page 1
THE SPALDING MEMORIAL EDUCATIONAL TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE PERIOD ENDED 31 DECEMBER 2020
Independent examiner’s report to the trustees
I report on the accounts of the charitable trust for the period ended 31 December 2020 set out on pages 3 to 4.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144 (2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
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examine the financial statements under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Chris Beaumont
Dated: 12 July 2021
C D Beaumont BA FCA
Lakin Rose Limited
Chartered Accountants
Pioneer House Vision Park Histon Cambridge CB24 9NL
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THE SPALDING MEMORIAL EDUCATIONAL TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2020
| RECEIPTS COIF Share dividends Deposit interest Total receipts PAYMENTS Grants Secretary’s salary Secretary’s pension cost Printing, postage and stationery Telephone and internet charges Mailing address Computer expenses Electricity costs Accountancy fees Payroll fees Bank charges Legal and professional fees Total payments Net receipts for the period Bank balances transferred on 12 May 2020 Bank balances carried forward |
Period to 31 December 2020 £ £ 69,151 11 69,162 41,920 10,926 432 118 615 - 325 490 1,480 500 17 - (56,823) ______ 12,339 47,841 £60,180 |
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THE SPALDING MEMORIAL EDUCATIONAL TRUST
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2020
| MONETARY ASSETS Bank and cash balances: Charities Deposit Fund – Reserves Fund Charities Deposit Fund – Clare Hall Fellowship HSBC ST Current Account HSBC ERS Current Account Other assets: Dividends due from COIF Liabilities: Accountancy fees estimate (incl. VAT) Outstanding payroll costs Grants approved but unpaid at the end of the period |
31 December 2020 £ 15,240 6,775 36,551 1,614 £60,180 - £ 60,180 3,210 417 16,679 £20,306 |
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In addition to the grants shown above, the charity has contingent liabilities at 31 December 2020 of £13,125 for grants awarded, but not accrued, as payment in future years is subject to relevant conditions being met.
| INVESTMENT ASSETS Held for investment purposes: 214,127 income units in – COIF Investment Fund (167,979 units) COIF Property Fund (42,763 units) COIF ERS (3,385 units) |
3,025,540 47,314 60,969 £3,133,823 |
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Assets held for own use Scanner (cost £3,374) Apple iMac 2.5GHz 4GB Computer (cost £420)
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