REGISTERED CHARITY NUMBER: CIO 1191583
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 OCTOBER 2020 TO 31 DECEMBER 2021
FOR
TRANSFORM SCHOOLS UK
TRANSFORM SCHOOLS UK
Trustees' report for the period ended 31 December 2021.
The trustees present their report with the financial statements of Transform Schools UK for the period from 1 October 2020 to 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The charity was registered as a Charitable Incorporated Organisation (CIO) with The Charity Commission of England and Wales on 1st October 2020. The organisation is governed by its Constitution and Rules. The Board of Directors of the charity are its Trustees for the purposes of charity law and throughout this report are collectively referred to as Trustees.
OBJECTIVES AND ACTIVITIES
Objectives and Aims
Transform Schools UK works to improve access to better quality and equitable secondary education for students with a special focus on those who come from poor, underserved and vulnerable backgrounds. We engage with the global community to raise awareness of the issues, seek support to fund and foster high quality educational programmes.
Significant Activities
As a result of the impact of the Covid-19 pandemic and resultant disruption to schools, the charity was dormant throughout the period to 31st December 2021. The charity incurred no expenses during the period.
Transform Schools UK works to improve access to better quality and equitable secondary education for students with a special focus on those who come from poor, underserved and vulnerable backgrounds. It will primarily support organisations working to promote this aim in India.
FINANCIAL REVIEW
Financial Position
As noted above the charity remained dormant throughout the reporting period.
Reserves Policy
As the charity has yet to start to operate no reserves policy has been put in place.
FUTURE PLANS
To improve access to better quality and equitable secondary education for students with a special focus on India and on those who come from poor, underserved and vulnerable backgrounds.
Structure Governance and Management
Transform Schools UK is governed by the CIO constitution established on 1st October 2020.
Trustees
The founding trustees of Transform Schools UK are Dr Soma Pujari (Chair) and Rebecca Eastmond. It is intended that at least three additional trustees will be added, with specific skills including grant-making and impact measurement. The trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises. The power of appointing new trustees is vested in the trustees.
Decision-making
The trustees hold ultimate responsibility for the policies, activities and assets of the CIO: they agree the strategy, review funding proposals, approve grants, manage fund-raising activities and consider the Trust’s social impact.
Risk Management
The CIO was registered at the height of Covid-19 in the UK. As the UK began to learn how to live with Covid-19, the effects of the pandemic became worse in India - Transform Schools UK’s primary market and all plans for a full rollout of charitable activities were suspended at that point. As at September 2022, the trustees are planning for a launch of charitable activities as soon as possible.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1191583.
Principal Address
55 New Oxford Street, London WC1B 1BS
Approved by order of the Board of Trustees on 6th October 2022 and signed on its behalf by:
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06.10.2022
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Rebecca Eastmond Trustee
Date
TRANSFORM SCHOOLS UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST DECEMBER 2021
| Unrestricted funds | Restricted funds | Total Funds | |
|---|---|---|---|
| £ | £ | £ | |
| INCOME AND | - | - | - |
| ENDOWMENTS | |||
| FROM | |||
| Donations and legacies | - | - | - |
| Investment income | |||
| ______ | ______ | ______ | |
| Total | |||
| EXPENDITURE ON | |||
| Charitable activities | - | - | - |
| Total | |||
| ______ | ______ | ______ | |
| NET INCOME/ | - | - | - |
| (EXPENDITURE) | |||
| RECONCILIATION OF | |||
| FUNDS | |||
| Total funds brought | |||
| forward | |||
| _ | _ | _ | |
| ______ | ______ | ______ | |
| TOTAL FUNDS | |||
| CARRIED FORWARD | |||
| _ | _ | _ | |
| ______ | ______ | ______ |
TRANSFORM SCHOOLS UK
STATEMENT OF FINANCIAL POSITION 31ST DECEMBER 2021
| Unrestricted funds | Restricted funds | Total Funds | |
|---|---|---|---|
| £ | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | _ | _ | _ |
| ______ | ______ | ____ | |
| CURRENT ASSETS | |||
| Debtors | - | - | - |
| Cash at bank | _ | _ | _ |
| ______ | ______ | ____ | |
| - | - | - | |
| CREDITORS | |||
| Amounts falling due within one | _ | ||
| year | _ | _ | ____ |
| ______ | ______ | ||
| __ | |||
| NET CURRENT ASSETS | _ | ||
| _ | _ | ||
| ____ | |||
| ______ | ______ | ||
| TOTAL ASSETS LESS | |||
| CURRENT LIABILITIES | - | - | - |
| NET ASSETS | _ | _ | _ |
| ______ | ______ | ____ | |
| FUNDS | |||
| Unrestricted funds | |||
| - | |||
| Restricted funds | |||
| - | |||
| TOTAL FUNDS | _ | ||
| _ | _ | ||
| ____ | |||
| ______ | ______ | ||
| __ |
The financial statements were approved by the Board of Trustees and authorised for issue on 6th October 2022 and were signed on its behalf by:
Rebecca Eastmond Trustee
TRANSFORM SCHOOLS UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
1. Accounting Policies
s
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.