Registered Charity Number: 286884 THE SKINNERS, SCHOOL DEVELOPMENT FUND TRUSTEE'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021
THE SKINY4ERS' SCHOOL DEVELOPMENT FUND REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 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. LA)ndon EC4R 2SP. Constitution The fund was established by a Trust Deed on 10 March 1983 to hold in trust gifts. devises and b¢quests and to apply them to such charitable purw)ses connected with the Skinners, School. Tunbridge Wclls, as the Trustee thinks fit. Grants arc made eithtr to the School ilsclf, (The Skinners. School Academy Trus¢ which is a company limited by guarantee and an cxcmpt ¢harity), or to its Endowment and Prize Funds, which are a separatc charity named The Skinners, School Foundation (registered charity number: 307846). Trustee The Trustee is the Worshipful Company of SkIters. Each member of the Court of the Trustee is selected with a view lo retaining a broad sp¢clruiD of expertise and receives an induction into the responsibilities of trustccship and ongoing Iraining where required. Committee The Trust Deed empowers Ihc Trustee to appoint an Appeal Comrnittcc of not Ic5S than twelve in number. It is envisaged that such a Committce will be appointed as and when dccmed necessary. Tbe Fund's Operations Thc Devclopmcnt Fund has continued to support the general rcfurbishmcnt and maintenance of thc school buildings. Public Benefit In setting the charity's obj¢¢tives. the trustee has given careful consideration to the Charity Commission's general guidance on publÈc benefit. The trustee is satisfied that the charity's activitics havc been for the public benefit. Financial Review The funds at the Trustee's disposal do not include any pernianent endowments. As showfft in the attached accounis for the year cnded 31 August 2021, the receipts in the period were £30,579 (2020- £103,319). Grants of £102,510 (2020: £300,000} werc made to the School in respect of its Humanitics Block project (Mitchcll Building). Total funds available at the period end werc £1,432 (2020: £73,424). No investments are held. The trustee ¢onfinns thc assets, which are primarily cash, are available and adequate to fulfil the Fund's obligations. Page I
THE SKtNNERS' SCHOOL DEVELOPMENf FUND REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 (continued) Reserves Policy The Charity exists solely to support the School and all its funds are developed to Ihis purpose. There is therefore no intention to hold reserves. From tirne to lime both rcstrictcd and unrestricted funds may bc accumulated, bul this will be lo fund a major item of cxpcnditt]re such as a new building. Risk Management The Trustec has sought to identify the major risks to which the Charity is cxposed and has cstablished systcms to ensurc that these risks are reviewed and are rninimis¢d as far as possible. Responsibility of Trustee Thc law applicable to charities in England and Walcs requires the Trustee to prepare financial StatentS for cach financial period which give a true and fair view of the state of affairs of thc charity and of the incoming resources and application of resources of the ch3rity for that period. In preparing those financial statements, the Trustee is required to= select suitable accounting policies and thcn apply ihem consistenily; make judgcments and estimates that are reasonable and prudent; prepare Ihc financial statements on the going concern basis unless it is inappropriate to presuine that the charity will continue to operate. The Trustcc is rcsponsiblc for keeping proper accounting records which disclose with rcasonable accuracy al any timc ihe financial position of the charity and io cnable thcm to ensurc that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Dccd. Thc Trusiee is also rcsponsible for safcguarding thc assets of the charity and hence for taking reasonable steps for the prevention and dctcction of fraud and other irregularities. The financial slaleinents are prepared on a receipts and payments basis. Page 2
THE SKINIYERS, SCHOOL DEVELOPMENT FUND REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 AUGUST 2021 Bankers and Professional Advisers Bankers CAF Bank Lirnitcd 25 KiThgs Hill Avenue Kings Hill West Malling ent, ME19 4JQ Solicitors Thomson. Snell & Passmore 3 Lonsdale Gardcns Tunbridge Wells Kent TNI INX Independent Examiner David John Walsh FCCA Baxter & Co Lynwood House 24 Crofton Road Orpington Kent BR6 8QE Insuranee Advisers Department for Education Risk Protection Arrangement (RPA) Membership Approved on behalf of the Worshipful Company of Skinncrs as Trustee on . and signed on its bchalf by.. Clcr Page 3
THE SKINNERS, SCHOOL DEVELOPMENT FUND INDEPEF4DENT EXAMINER'S REPORT TO THE TRUSTEE OF THE SKINNERS, SCHOOL DEVELOPMENT FUND rcport to thc Trustee on iny examination of the accounts of The Skinners. School Devclopment Fund {cb&rity number 286884) for the ycar endcd 31 August 2021 which arc set out on pages 5 to 7. Responsibilities of Trustee5 and Examiner Thc charity's trustees are rcsponsible for Ihc prcparation of the accounts in accordance with the requirements of the Charities Act 2011 ('kne Act"). The charity's trusfres consider that an audit is not required for this year under sertion 144 of the Act and that an independcnt examination is nccded. It is my responsibility lo.. cxamine the accounts under section 145 of the Charities Act, to follow the applicable Directions given by the Charity Commission (under sectiot) 145{5}{b) of thc Act, and lo slate whethcr particular marters havc come to my attention Basis ofIndependent Ex8miner's Ststement My examination was carried out in accordance with general Directions given by the Charity Commission. An exainination includes a review of the accounting rccords kept by the charity and a comparison of the accounts presented with those rccords. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations froin the Irustees conccming any such matters. The procedures undertaken do not provide all the cvidcnce that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'ttue 8nd fair, view and the report is limited to those matters set out in the statemcnt below. Independent examiner's statement In ¢onnecÉion with my examination. no material matters have come to my attention which gives me cause to believe that in, any material respect.. accounting records were not kept in aecordan¢e with scction 130 of the Charities Act or 2. the accounts do not a¢cord with the accounting records I have no conccrns and have comc across no other mattcrs in connection with the examination to which atteniion should bc drawn in ordcr to enable a proper understanding of thc arcounts to be reached. David John Walsh FCCA (Senior Statutory Auditorl For and on behalf of Baxt8r & Co Chartered Certified Aecountants Lynwood House Crofton Road OrpitvJton Kent BR6 8QE Page 4 27 May 2022
THE SKINNERS, SCHOOL DEVELOPMEN[ FUND RECEIPTS AP4D PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021 Restricted Unrestricted Total Funds Funds Funds Total Funds 2020 Notes Receipts Income from gencraled funds Donations Bank Interest 30,575 30,575 103,047 272 TotAI Receipts £30,579 £30,579 £103,319 Payments Grants Other 102.510 19 102,510 19 300,000 964 Total payments £102,529 £102,529 £300,964 (Deficit) of receipts over pa}'ments Bank balances brought forward Transfer between funds (71,950) 66,476 5.474 (71,950) 74,084 {197,645) 271.729 7.608 (5,474) Bank balances carried forwArd £2.134 £2,134 £74,084 STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2021 2021 2020 Assets Cash at Bank 2.134 74,084 Liabilities Oth¢r Crcditors 702 660 Net Assets £1.432 £73,424 Ap ovcd on bchalf of the Worshipful Company of Skinner5 as Trustee on . J.u..IL.I.l..and on its behalf by.. Clerk Page 5
THE SKINNERS, SCHOOL DEVELOPMENT FUND LYOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Principal accounting policies l. l Basis of preparation of accounts The financial statCiT]ents have been prepared on a receipts and payments basis. 1.2 Value Added Tax V A T on cxpcnditure incurred by thc charity is irrecoverablc. Expenditure is thcrefore statcd in the financial statements inclusive of VA T, where applicablc. Donations 2021 2020 New Building Appeal £30,575 £218,877 The figures shown include tax recoverable on donation5 under Gift Aid or by Dced of Covenant. Grants paid 2021 2020 Donations to the School-. Mitchell Building {formerly New Humanities Building) 102,510 300.000 £102.510 £300.000 Page 6
THE SKiNNERS' SCHOOL DEVELOPMENf FUND NOTES TO THE Accouf4TS FOR THE YEAR ENDED 31 AUGUST 2021 (continued) Other Costs 2021 2020 Bank charges Just Giving Subscription Fee Skinners, Company- Fund raising Gala 19 34 930 £19 £964 Taxation Thc Fund is a rcgistered charity and it5 income is not liable to direct taxation a5 il is applied wholly for charitable purposes. Page 7