2023-12-31-accounts - The Spalding Memorial Educational Trust

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Charity number: 1188315

THE SPALDING MEMORIAL EDUCATIONAL TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 YEAR ENDED 31 DECEMBER 2023 Trustees The Revd J. Collis M.A (Choir} Professor T.H. Barrett M.A., Ph.D. DrA. Barua Bsc, Ph.D. Professor R.P. Gordon Ph.D.. Lrtt.D. Dr S.M.A. lrnliaz., Ph.D. Di E. Kessler MBE.. Ph.D. Professor A.S. King, DPhil. Professor J. SIEbert B.A. (Hons.), M.Phil., Ph.D. Dr K. Vvard M.A., Ph.D. Charity register8d number 1188315 Principal address The Secretary The Spalding Memorial EduGational Trust P.0. Box 8S Stowmarkel IP14 3NY Objects of the Trust 11) Promote ethical, philosophical and religious education. as faf as possible throughout the world. through the support of inter-religious stJdy lo Dromote mutual understanding and respect. 121 Promot& any other charitable purpose according lo the laws of England and Wales as tha Trustees may from lime to time think fft. Honorary Treasurér Mr I C. Slra¢han M.A, C.A. Actlvltie5 The award of grants to support inter4eligious studies. Trustee chang8s In the year There were no Iruslee changes in the year. Signed on behalf of the Truslee$'. evd J. Collis M. Chair Approved by the Trustees Page 1

THE SPALDING MEMORIAL EDUCATIONAL TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner’s report to the trustees

I report on the accounts of the charitable trust for the year ended 31 December 2023 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:

examine the financial statements under section 145 of the 2011 Act;
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
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:

(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
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Dated: 8 July 2024

N Peacock FCA CTA

Lakin Rose Limited

Chartered Accountants

Pioneer House Vision Park Histon Cambridge CB24 9NL

Page 2

THE SPALDING MEMORIAL EDUCATIONAL TRUST

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

RECEIPTS COIF Share dividends Deposit interest Other income Total receipts PAYMENTS Grants Secretary’s salary Secretary’s pension cost Printing, postage and stationery Telephone and internet charges Computer expenses Electricity costs Accountancy fees Payroll fees Legal fees Travel costs Bank charges AGM expenses Other expenses Purchase of assets Total payments Net deficit for the year Bank balances brought forward Bank balances carried forward	Year to Year to 31 December 202331 December 2022 £ £ £ £ 99,229 98,442 852 215 109 - £100,190 £98,657 102,418 82,065 19,679 20,831 422 1,047 590 630 778 775 649 259 2,452 1,089 1,440 1,800 - 600 - 1,930 45 - 246 122 1,957 997 94 - 1,869 3,136 (£132,639) (£115,281) ______ (32,449) (16,624) £66,230 £82,854 £33,781 £66,230	Year to Year to 31 December 202331 December 2022 £ £ £ £ 99,229 98,442 852 215 109 - £100,190 £98,657 102,418 82,065 19,679 20,831 422 1,047 590 630 778 775 649 259 2,452 1,089 1,440 1,800 - 600 - 1,930 45 - 246 122 1,957 997 94 - 1,869 3,136 (£132,639) (£115,281) ______ (32,449) (16,624) £66,230 £82,854 £33,781 £66,230

		£66,230

Page 3

THE SPALDING MEMORIAL EDUCATIONAL TRUST

STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2023

	31 December31 December	31 December31 December
	2023	2022
	£	£
MONETARY ASSETS
Bank and cash balances:
Charities Deposit Fund – Reserves Fund	10,543	15,390
Charities Deposit Fund – Clare Hall Fellowship	2,280	6,842
HSBC ST Current Account	20,953	42,163
HSBC ERS Current Account	5	1,835
	£33,781	£66,230
Debtors:
Salary overpayments	-	89
	-	£89
Liabilities:
Accountancy fees estimate (incl. VAT)	2,186	2,040
Outstanding payroll costs	1,389	716
Grants approved but unpaid at the end of the year	9,675	11,690
Salary underpayments	130	-
	£13,380	£14,446
In addition to the grants shown above, the charity has contingent	liabilities at 31 December 2023
of £nil_(31 December 2022 - £4,833)_for grants awarded, but not accrued, as payment in
future years is subject to relevant conditions being met.
INVESTMENT ASSETS
Held for investment purposes:
1,167,437_(31 December 2022 – 1,167,437)_income units in –
COIF Investment Fund (1,102,457 units)	3,318,396	3,021,614
COIF Property Fund (42,764 units)	44,645	47,617
COIF ERS (22,216 units)	66,870	60,889
	£3,429,911	£3,130,120
Assets held for own use
Scanner (cost £3,136)
Computer (cost £2,294)

Page 4