Trustees’ Annual Report for the period
From 06/04/22 Period start date To 05/04/23 Period end date
Charity name: The Spencer Steadman Trust
Charity registration number: 1194926
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To promote the education (including social and physical training) of individuals from lower socio-economic backgrounds in such ways as the charity's trustees think fit via the award of funding to other charities which support and/or undertake: i. Awarding to such persons scholarships, maintenance allowances or grants tenable at pre-schools, primary or secondary schools, universities, colleges or institutions of higher or further education; and ii. Providing additional support to their education (including the study of music or other arts or skills), including financial assistance for tuition, travel in furtherance of that education or to prepare for entry to any occupation, trade or profession on leaving any educational establishment. |
| 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 and 1.19 |
i. Awarding to such persons scholarships, maintenance allowances or grants tenable at pre-schools, primary or secondary schools, universities, colleges or institutions of higher or further education; and ii. ii. Providing additional support to their education (including the study of music or other arts or skills), |
| including financial assistance for tuition, travel in furtherance of that education or to prepare for entry to any occupation, trade or profession on leaving any educational establishment. |
||
|---|---|---|
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the guidance issued by the Charity Commission on public benefit. |
| Additional information (optional) You may choose to include further statements where relevant about: |
||
| SORP reference | ||
| Policy on grant making | Para 1.38 | The Trust has awarded grants based on a review by the Trustees of projects and students proposed by ARK Academy Chain |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers |
Para 1.38 | |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| 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 | ●Established Partnership with Ark Academy Chain (Absolute Return for Kids) The Yellow Building, 1 Nicholas Road, London, W11 4AN Charity number 1095322 ●Awarded initial tranche of grants worth over £120,000, starting from August 2022, for library facilities in Ark Academy schools in Enfield and Portsmouth and bursaries for 3 students from Ark Academy schools going on to attend university. ●Held second fundraising dinner and auction at the Houses of Parliament in London in **November 2022 ** |
Additional information (optional) You may choose to include further statements where relevant about:
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Achievements against
objectives set Para 1.41
Performance of fundraising
activities against objectives
set Para 1.41
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| Investment performance against objectives |
Para 1.41 | |
|---|---|---|
| Other |
Financial Review
Review of the charity’s Para 1.21 financial position at the end of the period Statement explaining the Para 1.22 policy for holding reserves stating why they are held Amount of reserves held Para 1.22 Reasons for holding zero Para 1.22 reserves Details of fund materially in Para 1.24 deficit Explanation of any Para 1.23 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 any fundraising) |
Para 1.47 |
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|---|---|---|
| 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: |
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|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| 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 | Appointed by the Board |
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 |
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|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 |
Other
Reference and Administrative details
| Charity name | The Spencer Steadman Trust |
|---|---|
| Other name the charity uses | - |
| Registered charity number | 1194926 |
| Charity’s principal address | 27 Old Gloucester Street LONDON WC1N 3AX |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Nam e of pers on (or body ) entitl ed to appo int trust ee (if any) |
|---|---|---|---|---|
| Kate Steadman | Chairman | |||
| Andrew Jones | ||||
| Samaya Michiko Nissanke |
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| Mohan Russell Korgaonkar |
Treasurer | |||
| Hugh Davies | ||||
| Sebastan Woods- Walker |
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| Richard Christopher Brown MBE |
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| Alister shepherd | ||||
| Nasir Ahmad | Secretary | |||
– Corporate trustees names of the directors at the date the report was approved Director name Kate Steadman Andrew Jones Samaya Michiko Nissanke Mohan Russell Korgaonkar
Hugh Davies Sebastian Woods-Walker Richard Christopher Brown MBE Alister shepherd Nasir Ahmad
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
- Description of the assets held in this capacity - Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects - Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional) Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | |
|---|---|---|---|
| Type of adviser Name Address |
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| 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 Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
Charity Name No (if any) Spencer Steadman Trust 1194926 Receipts and payments accounts
Period start date Period end date To 4/6/2022 4/5/2023
For the period from
CC16a
Section A Receipts and payments
Unrestricted Restricted Endowment funds funds funds
Total funds Last year
| Section A Receipts and payments Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year |
|---|---|---|---|---|
| A1 Receipts 65,452 - - - - - - - 65,452 - - Sub total - Total receipts 65,452 A3 Payments FundraisingEvents 12,860 Grants 57,500 - - - - - - - Sub total 70,360 - - Sub total - Total payments 70,360 Net of receipts/(payments) - 4,908 A5 Transfers between funds - A6 Cash funds last year end 183,291 Cash funds this year end 178,383 to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table) |
to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
to the nearest £ | to the nearest £ 65,452 - - - - - - - 65,452 - - - 65,452 12,860 57,500 - - - - - - - 70,360 - - - 70,360 - 4,908 - 183,291 178,383 |
to the nearest £ |
| - - - - - - - - - |
65,452 | 200,146 | ||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 65,452 | 200,146 | |||
| - - - |
- | |||
| - | - | |||
| - | - | |||
| - | 65,452 | 200,146 | ||
| - - - - - - - - - - |
12,860 | 16,855 | ||
| 57,500 | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 70,360 | 16,855 | |||
| - - - |
- | |||
| - | ||||
| - | - | |||
| - | 70,360 | 16,855 | ||
| - | - - - - |
- 4,908 | 183,291 | |
| - | - | - | ||
| - | 183,291 | - | ||
| - | 178,383 | 183,291 |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees |
Details Details Details Details Details Signature Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ to nearest £ 178,383 - - - - - 178,383 - OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional) |
to nearest £ Endowment funds |
|---|---|---|---|
| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| to nearest £ Endowment funds |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| Current value (optional) |
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| - | |||
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| When due (optional) |
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| Date of approval |
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Andrew Eldridge Financial Services
7 High st Tingrith MK17 9EH
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Spencer Steadman Trust
05/04/2023 1194926
Report to the trustees/ members of On accounts for the year ended Charity no (if any) Set out on pages
Draft accounts provided to me by the Trust
Responsibilities and basis of report
I report to the trustees on my examination of the accounts of the above Trust for the year ended 05/04/2023.
As the trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Commission.
I report in respect of my examination of the Trust’s accounts carried out adopting section 145 of the 2011 Act and in carrying out my examination, I have followed 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 which gives me cause to believe that in, any material respect:
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Andrew Eldridge Date: 15/03/2023 Name: Andrew Eldridge (Andrew Eldridge Financial Services) Relevant professional qualification(s) or body (if any): ATT Association of Taxation Technicians (ATT – part of the Chartered Institute of Taxation) Address:
7 High Street, Tingrith
October 2018
1
IER
Milton Keynes
MK17 9EH
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
October 2018
2
IER