**Registered Charity Number: 286884** ## **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** **TRUSTEE’S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020** **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2020** ## **Introduction** The Skinners’ School Development Fund is registered as a charity under number 286884. The address of the Trustee is Skinners’ Hall, 8 Dowgate Hill, London EC4R 2SP. ## **Constitution** The fund was established by a Trust Deed on 10 March 1983 to hold in trust gifts, devises and bequests and to apply them to such charitable purposes connected with the Skinners’ School, Tunbridge Wells, as the Trustee thinks fit. Grants are made either to the School itself, (The Skinners’ School Academy Trust, which is a company limited by guarantee and an exempt charity), or to its Endowment and Prize Funds, which are a separate charity named The Skinners’ School Foundation (registered charity number: 307846). ## **Trustee** The Trustee is the Worshipful Company of Skinners. Each member of the Court of the Trustee is selected with a view to retaining a broad spectrum of expertise and receives an induction into the responsibilities of trusteeship and ongoing training where required. ## **Committee** The Trust Deed empowers the Trustee to appoint an Appeal Committee of not less than twelve in number. It is envisaged that such a Committee will be appointed as and when deemed necessary. ## **The Fund’s Operations** The Development Fund has continued to support the general refurbishment and maintenance of the school buildings. ## **Public Benefit** In setting the charity’s objectives, the trustee has given careful consideration to the Charity Commission’s general guidance on public benefit. The trustee is satisfied that the charity’s activities have been for the public benefit. ## **Financial Review** The funds at the Trustee’s disposal do not include any permanent endowments. As shown in the attached accounts for the year ended 31 August 2020, the receipts in the period were £103,319 (2019: £219,070). Grants of £300,000 (2019: £nil) were made to the School in respect of its Humanities Block project. Total funds available at the period end were £73,424 (2019: £271,099). No investments are held. The trustee confirms the assets, which are primarily cash, are available and adequate to fulfil the Fund’s obligations. Page 1 **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2020** (continued) ## **Reserves Policy** The Charity exists solely to support the School and all its funds are developed to this purpose. There is therefore no intention to hold reserves. From time to time both restricted and unrestricted funds may be accumulated, but this will be to fund a major item of expenditure such as a new building. ## **Risk Management** The Trustee has sought to identify the major risks to which the Charity is exposed and has established systems to ensure that these risks are reviewed and are minimised as far as possible. ## **Responsibility of Trustee** The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the Trustee is required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. The Trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The financial statements are prepared on a receipts and payments basis. Page 2 **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2020** ## **Bankers and Professional Advisers** ## **Bankers** CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4JQ ## **Solicitors** Thomson, Snell & Passmore 3 Lonsdale Gardens Tunbridge Wells Kent TN1 1NX ## **Independent Examiner** David John Walsh FCCA Baxter & Co Lynwood House 2-4 Crofton Road Orpington Kent BR6 8QE ## **Insurance Advisers** Department for Education Risk Protection Arrangement (RPA) Membership 15th December 2020 Approved on behalf of the Worshipful Company of Skinners as Trustee on …..…………… and signed on its behalf by: ……………………. Clerk Page 3 **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEE OF THE SKINNERS’ SCHOOL DEVELOPMENT FUND** I report to the Trustee on my examination of the accounts of The Skinners’ School Development Fund (charity number 286884) for the year ended 31 August 2020 which are set out on pages 5 to 7. ## **Responsibilities of Trustees and Examiner** The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the 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 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 statement below. ## **Independent examiner’s statement** In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: 1. accounting records were not kept in accordance with section 130 of the Charities Act or 2. the accounts do not accord with the accounting records 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. 5 January 2021 **David John Walsh FCCA (Senior Statutory Auditor) For and on behalf of Baxter & Co Chartered Certified Accountants** Lynwood House Crofton Road Orpington Kent BR6 8QE Page 4 ## **THE SKINNERS’ SCHOOL DEVELOPMENT FUND RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020** |||**Restricted**|**Unrestricted**|**Unrestricted**|
**Total**|**Total**| |---|---|---|---|---|---|---| |||**Funds**|**Funds**||**Funds**|**Funds**| ||**Notes**|||||**2019**| |**Receipts**||**£**|**£**||**£**|**£**| |Income from generated funds||||||| |Donations|2|103,047|-||103,047|218,877| |Bank Interest||272|-||272|193| |||______|______||______|______| |**Total Receipts**||£103,319|£-||£103,319|£219,070| |||=====|=====||=====|======| |**Payments**||||||| |Grants|3|300,000|-||300,000|-| |Other|4|964|-||964|9,438| |||______|______||______|______| |**Total payments**||£300,964|£-||£300,964|£9,438| |||=====|=====||=====|======| |**(Deficit)/Excess of receipts over**||||||| |**payments**||(197,645)|-|(197,645)||209,632| |**Bank balances brought forward**||264,121|7,608||271,729|62,097| |||_____|______||______|_______| |**Bank balances carried forward**||£66,476|£7,608||£74,084|£271,729| |||=====|=====||=====|======| |**STATEMENT OF ASSETS AND LIABILITIES AS AT**|||||**31 AUGUST**|**2020**| |**Assets**|||||**2020**|**2019**| ||||||**£**|**£**| |Cash at Bank|||||74,084|271,729| ||||||______|_______| |**Liabilities**||||||| |Other Creditors|||||660|630| ||||||_______|_______| |**Net Assets**|||||£73,424|£271,099| ||||||======|======| Approved on behalf of the Worshipful Company of Skinners as Trustee on ………………and 15.12.20 signed on its behalf by: …………………………….. Clerk Page 5 ## **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020** ## 1. **Principal accounting policies** ## 1.1 **Basis of preparation of accounts** The financial statements have been prepared on a receipts and payments basis. ## 1.2 **Value Added Tax** VAT on expenditure incurred by the charity is irrecoverable. Expenditure is therefore stated in the financial statements inclusive of VAT, where applicable. ## 2. **Donations** |**Donations**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |New Building Appeal|103,047|218,877| |Other Donations|-|-| ||______|_______| ||£103,047|£218,877| ||=====|======| The figures shown include tax recoverable on donations under Gift Aid or by Deed of Covenant. ## 3. **Grants paid** |**Grants paid**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |Donations to the School:||| |New Humanities Building|300,000|-| ||______|_______| ||£300,000|£-| ||======|======| Page 6 **THE SKINNERS’ SCHOOL DEVELOPMENT FUND** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 AUGUST 2020** (continued) ## 4. **Other Costs** |**Other Costs**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |Bank charges|34|14| |Just Giving Subscription Fee|-|108| |Skinners’ Company – Fund raising Gala|930|9,316| ||______|_____| ||£964|£9,438| ||=====|=====| ## 5. **Taxation** The Fund is a registered charity and its income is not liable to direct taxation as it is applied wholly for charitable purposes. Page 7