Charity Commission Number: 292223 DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Financial statements for the year ended 31 March 2021
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND REGISTERED OFFICE: Davenanl Foundation School Chester Road Loughton Essex IG10 2LD BANKERS.. Lloyds plc 11 The Broadway Loughton Essex IG10 3SW INVESTMENT MANAGERS.. COIF Charity Funds CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET SOLICITORS.. Meyrick Mills 48 Onslow Gardens London SW7 3AH INDEPENDENT EXAMINER: Hugh Swainson FCA Buzzacott LLP 130 Wood Street London EC2V 6DL CHARITY REGISTRATION NUMBER.. 292223
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND INDEX Page Trustees, report Independent examiner's report Statement ol financial activities Balance sheet 10 Notes to the financial statements
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees, report for the year ended 31 March 2021 The Trustees present Iheir report and the financial statemènts for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set oul on pages 1110 12 of the allached accounts and comply with the charity's trusl deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland IFRS 1021. CharFlable slatus The charily is registered with the Charity Commission under registration number 292223. It is governed in accordance with Ihe Rules adopled on 28 March 1985 and as amended on 5 December 1991. During 2008, the Rules were amended further lo relieve the charity ol a requirement for statutory audit of its financial slat8menls. Public Benef it The Iruslees have referred to the guidance conlained in the Gharity Commission's general guidance on publlc benelil when reviewing their aims and objectives and in planning fulure activities. Aims and objectlves The principal activity of the charity during the year continued to be the advancement of the education of pupils of the Davenant Foundation School and assistance in the provision of lacilities for the education of pupils at the School. The charity consists ol various funds- 1. The General Fund This fund is used to provide resources not met from public funding. It derives its income from parental contributions, which are encoLJraged on a Committed basis. 2. The Arts. Fund This fund is a restricted fund and is used exclusively for creative and expressive arts aclivities in th& School. 11 derives ils income primarily from tLJilion fees, perfomiance charges and voluntary donations. The fund is spent on peripatelic slalf fees, pertormance expenses and the purchase of musical instruments and equipment. 3. The Holdlng Fund This fund holds income and expendilure in respect of school activities and trips (although mosl trips are now run via th6 academy accounts). Any small surpluses or deficits are translerred lo a Hardship Fund for the support of studenls in need. The Tennis Fund is also designated- Irustees wish it to be available for maintenance and developmenl of the tennis courls. Prfncipal policies to achieve objecls To encourage and increase regular committed and other giving by parents and Iriends of the School.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2021 (Contd.) Progress and achlevemenls All funds have continued lo operate throughout the period and in accordance with the Aims and Objectives. The Charity has supported many School activities, including: From the General fund.. Minibus Fitness suite Duke of Edinburgh Award. From the Arts, fund.. Peripatetic music luilion- and Maintenance and PLArchase of musical instruments. Impact of Covid19 Covid1 S has impacled the charity as follows: The pandemic was underway at the start ol the financial year. consequenlly a cautious budget was set which was further amended in June 2020. For example. the budget for parental donations and concort income was reduced, together with the likely expenses of the charity. In reality parental contribulions were higher than budgeted because most exisling donors maintained their giving. But donations from new families joining the school were much reduced. Because many of the charity's usual activities were paused, il was deemed inappropriate to actively encourage new donors. However, a fundraising campaign is planned for September 2021 to encourage donations now that activilies have resumed. As a result the unrestricted reserves have increased over Ihe year. The restricted Arts Fund has had a lean year. Ils maln functlon Is muslc tuition - this continued bul take-up was lower. The costs ol this continued lo be met by fee income. However, the concerts and produclions traditionally make a surplus which is used to moet the fixed costs and planned developments. No concerts or productions took place during the year, resulting in an in year deficit that was met from reserves. It is hoped that the popular concert seasons will resume later in 2021; should this not occur the financial base of the Fund wll need lo be revieiNed. Th8 d8signat8d fund 18nds to 'hold' funds for sp8cili¢ activities and hanc6 income matches expenditure. Because many activities were paused due lo the pandemic. the turnover is lower than usual. Revlew of flnanclal actlvltles General Unrestvlcted Funds The fund income for the year was £75.987 {2020 £103,715). Parental contributions were £74.219, compared with £92.391 in 2020. The overall surplus for the year was £25,008.This compared lo a surplus of £8,496 tor the previous year. The year end reserves stand al £111,583 which comfortably covers one year's recurrent expenditure. In the light of the current national crisis we will monitor parental income closely and adjust budgets as necessary.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Truslees report for the year ended 31 March 2021 (Contd.) The Designated Fund The year end balance of £61,463 comprises various committed balances and the designated Tennis Fund from which no expenditure was incurred. The purpose of this lund is to 'hold' funds for specific activities and any unspent funds lor ongoing projects are earmarked and carried forward to the next year. Th8 Arts, Fund The fund income for the year was £47,209 {2020 - £104.2401. The overall deficlt for the year was £6,534. This compared to a surplus of £1,323 for the previous year. The year end reserves stand at £16,072. In the light of the current national crisis we will continueto monitor expenditurè closely. Investment pollcy The charity's investment policy is detemiined by the Trustees and is that surplus cash shoukl be held in readily accessible COIF deposit accounts that offer an acceptable rate of interest. Reserves policy End of year surpluses are added to reserves until such time as the School requires financial support for a project. Trustees decide upon the level of SUFV)rt, laking account of both the needs ol the School and the reserves available. At the year end the trustees believe Ihat Ihe level of reserves ¢arriecl forward is sufficient for future needs, taking into account the current uncerlainlies due to the effects of the Covid pandemic. At 31 March 2021, the charty held unrestricted funds of £111,583 {2020 - £86,575) and designated funds of £61,463 {2020 ~ £54,491). Restricted fund balances at 31 March 2021 amounted lo £16,072 {2020 - £22,606). Granl-making pollcy The Charity is solely dedicated lo supporting the activities of the School. in aOrdanCe with its staled aims. Risk management The Trustees have examined the major risks lo which the charity is exposed and measures are in pla lo manage those risks as awropriale. Key risks that the charity faces include: Reduced income due to the effects of the pandemic (parental donations, fund raising events, etc.). This is managed by holding a suitable level of reserves and limiling recurring commitments on the Funds Ensuring the musi¢ tuition provision breaks even in the light ol increasing slaffing costs and lower uptake due to lockdown. This budget is carefully monitored lo ensure the provision remains viable. Related party tvansactlons Details of related party transaclions are given in note 17 to the flnancial statements.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report tor the year ended 31 March 2021 (Contd.) Key management The trustees comprise the key management personnel of the charity in charge ol directing and controlling, running and operating ihe chariiy on a day to day basis. All trustees give ol their time freely and no trustee received any remuneration in the year. Details of trustee's oxpenses and remuneration are disclosed in notes 8 and 9 to the accounts. Appointment ol Truslees Governors of the Davenant Foundation School are automatically appointed as Twstees of the Reynolds (School Private) Fund, together with the Head Teacher, Deputy Head Teachers and Head of Performing Arts. The day to day management of the charity is delegated to the Head Teacher, Mr A Thorne, the Head ol Performing Arts. Mrs R Tubb. and the Finance and Resourc&s Manager, Mrs J Beaumont. All Governors undertake an induction programme on appointment to familiarise themselves with the workings of the school and the charity. Further Iraining is available Irom the Local Authority and the National Governors. Associalion. as required. Twslees The following Trustees have held office during the year.. Mrs J Anderson Mr G Anthony Rev. C Davies Mr J Doherty (until 23 August 2020) Mrs O Faloye Mrs C Folkes Mr M Hicks Mrs D Lake Mrs A Olapade Mr D Prosser Mr H Smith Mrs S Temple Mr A Thorne Mrs R Tubb Ms M Vine-morris MsDLee Parenl Governor Foundation Governor Foundation Govemor Stall Governor Staff Governor Foundation Governor Foundation Govemor DepLJty Head Teacher Community Governor Foundation Governor Foundation Governor Foundation Governor Head Teacher Head ol Performing Arts Foundation Governor Parent Governor Staternenl ol Trustees. financial responslbllltles The Truste8s are responsible for preparlng ihe Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepiod Accounting Practico). The law applicable to charilies in England and Wales requires the Trustees lo prepare financial slatemenls for each financial year which give a true and fair view of the slate of affairs of the charity and ol the income and expenditLhre of the charity for Ihai period. In preparing these financial statements, the Trustees are required lo.. sele¢t suitable accounting policies and apply them consislenlly., observe the methods and principles in Accounting and Reporting by Charilies: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland IFRS 102).,
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Trustees report for the year ended 31 March 2021 (Contd.) make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subje¢l to any material departures disclosed and explained in the financial statements; and prepare the linancial slatemenls on the going conrn basis unless it is inappropriate to presume that tho charity will continue in operation. The Trustees are responsible lor keeping proper accounting records that dlsclose with reasonable accuracy at any tim8 the financial position ol the charity and to enable them lo ensure that the financial staternenls comply with the Charities Act 2011, applicable Charity (Financial Statements and Reports) Regulations and the provisions of Ihe charity's trust deed. They are also responsible for saleguarding the assets of the charity and henc8 for taking roasonable steps for the prevention and detection of fraud and other i¥regularili8s. Volunteers The Governors would like to record their thanks to parents and friends of the school who have continued to support the school in many ways during the year. Approved by the Trusla@s on l3.- lo:..2.07.1 and signed on Iheir behalf by- Trust Trustee
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Independent Examiner's Report to the Trustees of The Reynolds (School Private) Fund I report to the charity trustees on my examination ol the accounls of the charity for the year ended 31 March 2021. Responslbilities and basis of report As the trustees of the Charity you are responsible for the preparation ol the accounts in accordance wth the requirements of the Charities Act 20111'the Act'l. I report in respect of my examinalion of Ihe charity's accounts carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed all Ihe applicable Directions given by the Challty Commission under section 145151{b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no malerial mall8rs have come lo my attention in connection with my examination giving rne cause to believe Ihat in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act- or the accounts do not accord wilh those re¢ords- or the accounts do not comply with the applicable r8qulrements concerning the Somi and content ol accounts set out in the charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and lair view, which is not a matter considered as part of an independent examination. I have no concems and have Come across no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding ol the accounts to be reached. Hugh Swainson, FCA Buzzacott LLP Chartered Accountants 130 Wood Street London, EC2V 6DL Date.. 11.11.2021
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Statement of financial activities for the year ended 31 March 2021 Totsl Funds 2021 Total Funds 2020 Reslricted Designated Funds Fund$ General Funds Notes Income from-. Donations and18gaci&s Other trading aclniilies Investments Charitable activities 128 4,862 8,851 75,162 80,152 120,871 8,851 23,874 132 619 69,802 125,185 132 693 47,081 22,028 Total Ineome 47.209 35,741 75,987 158,937 270,549 Expendlture on: Raising funds Gharitab18 activities 8,920 19,849 5,000 13,920 16,407 45,979 119,571 236,807 53.743 Total 6xpandltuYe 53,743 28,769 50,979 133A91 253,214 Net (exp8nditur&) I In¢ome belore Iransfers 16,5341 6,972 25,008 25,446 17,335 Transfers between lunds Net movement In funds lor the year 16,5341 6.972 25,008 25,446 17,335 Reconciliation of funds: Total funds brought fonNard at 1 April 2020 22,606 54,491 86,575 163,672 146,337 Total lunds carried torward at 31 March 2021 14 16,072 61,463 111,583 189,118 163,672 None ol the charivs aclivili88 was acquired or disconlinLfed during the above two financial years and there were no recognised gains or losses other than as shown above. The notes on pages 11 to 21 lomi part ol these financial slalements.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Slatement of linancial activities for the year ended 31 March 2020 Unrestricted funds Total Notes Funds Funds Funds 2020 Income Irom.. Donations andlegaGies Olher trading activitS Inveslrnents Gharilable activitS 1,125 14,342 18.291 9.532 101,455 120,871 23,874 619 619 1,641 125, 185 88,737 34,807 Tot81 income 104,204 62.830 103,715 270,549 Expenthlur8 on.. Raising funds Ch8rit8ble aclwities 3,407 99,474 8,800 46,314 4,200 16,407 91,019 236,807 Totalexpenthlure 102,881 55,114 95,219 253,214 Net iorne/(exPendIlureJ before transfers 1,323 7,576 8,496 17.335 Transfers between funds Net movement in fvnds for Ihe year 1,323 7,518 8,496 77.335 Reconu'liafron ol fun<ts.' Total funds brotjght fomard al l Apri12019 21,283 46,975 78,079 146,337 Total funds carrd fonvarcl at31 March 2020 14 22,606 54,491 86.575 183,672 Nono ol the charily's activities was acquired or discontinued during the above two financial years and there were no recognised gains or losses other than as shown above. None ol th8 charitls aclivilies was acquired or discontinued during ihe above two linan¢ial years and Ihere were no recognis8d gain8 or losses hor than as shown above. The notes on pages 11 to 21 form part ol these flnancial statements.
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Balance sheet as at 31 March 2021 Notes 2021 2020 Current assets: Stock Debtors Cash at bank and in hand 3,003 16,680 224,049 2,394 25.222 196.764 10 243.732 224.380 Liabilities: Creditors.. amounts falling due within one year (54,614) 160,708) Nel current assets 189.118 163,672 Total net assets 189,118 163,672 The lunds of Ihe charily: Reslrlcted Income lunds 14 16,072 22,606 Unreslrlcted Income tunds Designated Fund General Fund 14 14 61,463 111,583 54,491 86,575 Total Funds 14 189,118 163.672 Approved by the Trustees and aulhorised for issue on behalf. I2-ID"2DII and signed on their Trust Trustee The notes on pages 11 to 21 forrn part of these financial statements. 10
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 Accountlng pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation ol the accounts are laid out below. Basis of accounting These accounts have been prepared for the year to 31 March 2021. The accounls have been prepared under the historical cost convention wth items recognised at cosl or transaction value unless otherwise staled in the relevant accounting policies below or the notes lo these accounls. Th8 accounts have been prepared in accordance th Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 Unit8d Kingdom and Republic of Ireland (FRS 1021 (Charities SORP FRS 102) issued on 16 July 2014, Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Charilies Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearesi pound. b) Crltical accounllng estlmates and areas ol judgement Preparation of Ihe accounts requires the trustees to make significant judgements and estimates. The Items in the accounts where these judgements and estimates have been made include: estimating the liability for mulli-year grant comrnilmenls. and estimating Ihe useful economic life of tangible fixed assets. In addition to the above, the full impact following the recent emergence of the global coronavirus pandemic is still unknown. It is therefore not currently possible to evaluate all th8 pot8nlial implications for the charity's aclivilies, benèficiaries, funders, suppliers and the wider economy. Eslimales used in th8 accounts are subject to a graater degree of uncertainty and volatility. As sel out in these accounting policies under "going concern", the trustees have considered Ihe impact of the pandemic on the charily and have concluded that a5though there may be some negative consequences, il is appropriate lor Ihe charity to continue to prepare ils accounts on the going concern basis. Assessment ot going concern The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made Ihis assessment in respect to a period of one year from the date of approval of these accounts. The trustees ol the charity have concluded that there are no material uncertainties related lo events or conditions that may cast significant doubt on the ability ol the charity to
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) Accounting pollcles (Contd.) continue as a going COnrn. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. d) Income recognition Income is recognis8d in Ihe period in whlch charity has entitlement to th8 income, it can be measured reliably and it is probable that the income will be received. The lollowing specific policies apply to categories of income.. Income received from parents, covenants is accounted for on an accruals basis. Donations and grants are accounted for on a receivab18 basis. Donations received for the general purposes of the charity are included as unrestricled funds. Donations lor activities restricted by the wishes of th8 donor are laken to restricted funds where those wishes are legally binding on the Trustees. Expendlture re¢ognilion All expenditure is included on an accruals basis. The charity is not registered lor VAT and accordingly expenditure is shown gross of irrecoverable VAT. Certain expenditure is directly allributable lo specrfic activities and has been Included in those cosl categories. Where costs cannol be directly attributed to specific activities, they have been allocated to activities on a basis consistent with the use of the resources. Fundraising and publicity expenditure comprises costs incurred bythe fund in encouraging financial contributions to ils activities. Grants are charged to Ihe slatemenl of financial activities when they are due tor payment or when the charily has committed lo make luturo payments Musical instruments are fully expended in the year of purchase. Governan¢e costs arg th8 costs associated with the govemance arrangements of the charity which relale lo the general running of the charity as opposed to those costs associated wilh fundraising or charitable activity. Support costs, including gov8rnanc6 costs, comprise costs of general manag8m8nt, accounting and finance. Supwrt costs are allocated as 690/. lo charitable expenditure and 31 % lo costs ol generating funds, being the estimated time spent on each activity. f) School trips Income and expenditure on School trips relates to trips which have taken place during the financial year, where the income and expenditure have been linally determined. Where trips are due to take place in a future year, the expenditure relating to such trips has been included in prepayments and the income in deferred income. g) Stock Stock comprises goods for Yesale and has been valued al the lower of cost and net realisable value. 12
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) Accountlng policles (Contd.) h) Debtors Debtors are recognised at their settlement amount, less any provlsion for non- recoverabilily. Prepayments are valued at the amount prepaid, Provlslon is made for all covenanted Income which Is consldered to be irrecoverable. Cash al bank and in hand Cash at bank and in hand represenls such accounts and instruments Ihal are available on demand or have a maturty of less than three months from the date of acquisition. Credltors and provlslons Creditors and provisions are recognised when there is an obligation at the balance sheet dale as a result ol a past event, it is probable Ihat a transfer of economic benefit will be required in settlement, and Ihe amount of the settlement can be eslimated reliably. Creditors and provisions are recognised at the amount the charity anlicipales it will pay to settle the debt. k) Fund accounling Funds held by the charity are.. Unrestricted funds - these are funds which can be used in accordance with the charitls objects. at Ihe discretion of the Board. Designated funds - these are unrestricted funds set aside by the Board for particular purposes. Restrlcted lunds - these are funds thal are subjecl lo special conditions imposed by the donor, or through the temis of an appeal. Taxatlon Tax refunds receivable on covènanted and Grfl Aid donations are accounted for on an accruals basis. The Fund is a registered charily and accordingly is exempt from taxalion on its income whare il is applied for chayltable purposes. 13
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2020 {Conld.) Donatlons and legacies Total Funds 2021 Restricted Funds Designated General Funds Fund Parental conliibutions {including lax religfj Grants - Parents AssocÈalion Other grants Donations and girts 1,626 3,236 72.594 74,219 128 2,568 2,696 Total funds 2021 128 4,862 75.162 80,152 Tolal Funds 2020 Reslricted Funds Designaled General Funds Fund panIalC0nInbutnS (including tax reli89 Grants- Parents Assoclallon Othergranls Donations andgifts 92,391 92,391 10,316 2,250 15.914 70,316 2,250 5, 725 1, 125 9,064 Total funds 2020 1, 125 18,291 101,455 120.871 Other trading activlties Total Funds 2021 Restricted Funds Deslgnaied General Funds Fund Trading income Production income 8,851 8,851 Total funds 2021 8,851 8,851 Total Funds 2020 Restricled Funds Designat8d General Funds Fund Trading income Prorluction income 9,532 14,342 14,342 Total funds 2020 14,342 23,874 14
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) Charitabl8 activities Total Funds 2021 Restiicted Funds Designated General Funds Fund Income from school Irips and other activities Tuition and exam fees 22,028 693 22,721 47,081 47,081 Total funds 2021 47,081 22,028 693 69,802 Total Funds 2020 Restnctgd Funds D6gnated General Funds Fund Income from school trips and olhera¢tivities Tuilion 8nd exam fees 34,807 1,641 36,448 8S,737 88,737 Total funds 2020 8&737 34,807 1,641 125, 185 Expendlture on ralslng funds Total Funds 2021 Restricted Deslgnated Funds Funds General Fund Salaries Other Trading exFenses Productions costs 3,500 1.500 3,500 1,500 8.920 8,920 Total lunds 2021 8,920 5,000 13,920 Tot81 Funds 2020 Hestrted Designated Funds Funds Gener81 Fund Salaries Other Trading expenses Productions cosls 3,500 700 3,500 700 8,800 3,407 8.800 3,407 Total fju 2020 3,407 8,800 4.200 16.407 15
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes 10 the financial statements for the year ended 31 March 2021 (Contd.) Expendlture on ¢haYltable activities Total Funds 2021 Restricted Funds Deslgnated General Funds Fund School trips and other activities Tuition and exam fees MusiGal instruments, cosls and repairs Gilts and donations Contribution lo school's projects Salarie5 and adminislralion costs 6,613 1.693 8.306 43.717 43,717 4,973 7,727 535 34 24,755 19,498 5,007 32,482 30,059 10,026 Total lunds 2021 53.743 19,848 45,980 119.571 Tolal Funds 2020 Reslricled Funds Desynated General Funds Fund School tnps andother actiwhes Tuition and exam fees Musical instruments'costs and repwrs Gifts anddonations Contribution to schools projects Salaries and ac1min1rat1o costs 18,580 14,579 33, 159 86,367 1,591 12,765 77,664 31,267 86,367 1,591 10,714 16,348 672 2,051 55,136 19,523 180 11,336 Tot81 funds 2020 99,474 46.314 91,019 236,807 The Gharily does not havo any employees. Salary costs r8lal8 lo pgripatetic musiG Staff and administration and are recharged lo the charity by Davenanl Foundation School. Salaries and administration ¢0s18 may be analysed as follows.. Total Funds 2021 Restrlcted Funds Deslgnated Funds General Fund Adminlstratlon and salary cosl Parent pay expenses Subscriptions & affiliations Sundry Governance costs (note 71 8,800 697 14.500 23,300 1,232 1,772 29 3.726 535 1.772 29 500 3.226 10,026 535 19,498 30,059 16
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) Cos18 of chavltable actlvities (conllnued) Tolal Funds 2020 R8Strid8d Fund9 Designated Funds General Fund Administration and sal2ry cost Parentpay expenses SUbsGripls & alfilialions Sundry Govemance (note 7) 9,165 1,314 14,541 23,706 1,986 672 357 357 3,638 3,138 11,336 672 19,253 3Y.261 Governance Toial Funds 2Q21 Restrlcted Funds Deslgnated Fund$ General Fund Independent examiner's fees Tnjstee's indemnlty insurance 500 1.540 1.686 2,040 1,686 500 3,226 3,726 Total Funds 2020 ReslriGted Funds Desunaled Funds G8ner81 Fund Independent examiners lees Truslees indemnity insurance 500 Y,600 1,538 2,100 500 3, 138 Slaff costs and remuneralion of key managemenl personnel The charity employed no staff during the year {2020 - none). The key management personnel of the charity in charge of direcling and controlling the charity comprise the trustees. The total remuneralion (including iaxable benefits and employer's pension conlributionsl of the key management personnel for the year was £nil {2020 - £nill. 17
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) Trustees The Trustees received no remuneration during the year and no reimbursement for expenses 12020 £nill During the year. the Charity paid £1,686 (2020 - £1.404) for TrLJStee's indemnity insurance. 10. D8btors 2021 2020 Tax recoverable Other debtors Prepaym8nls 13,265 980 2,435 16,913 3,999 4,310 16,680 25,222 11. Creditors: amounts falllng due wllhln one year 2021 2020 Advance receipts for Irips and other activities (note 12) (Xher creditors and accruals Deferred income Inole 131 9,809 18,235 26,570 14,003 25,291 21,414 54,614 60.708 12. Advance receipts for Irlps and other activities 2021 Balance al 1 April 2020 Advance receipts received during the year Released to staletnenl ol financial activities 14,003 9,809 (14,003) Balance al 31 March 2021 9,809 2020 Balance at l April 2019 Advance receipts received during the year Released to statement of financial aetiwties 25,139 14,003 {25, 139) Balance at 31 March 2020 14,003 18
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Noles to the financial statements for the year ended 31 March 2021 (Contd.) 13. Deleryed income 2021 Balan al 1 April 2020 Received during the year Released to statement ol linancial activities 21,414 26,570 (21.414) Balance at 31 March 2021 26,570 2020 Balance at l April 2019 Received during the year Released to statement of financial actiwties 8, 125 21,474 (8,125) Balance at 31 March 2020 21,414 19
-<L
(r) fD
DAVENANT FOUNDATION SCHOOL THE REYNOLDS (SCHOOL PRIVATE) FUND Notes to the financial statements for the year ended 31 March 2021 (Contd.) 15. Analysis of net assets between the funds 2021 Total Restrlcted Deslgnated Unyestricted Current assets Current liabililles 29,912 (11.919) 94,613 135,071 } 119,207 243,732 (7,624) (54,614) Al 31 March 2021 17,993 59,542 111,583 189,118 2020 Total Restrted Designated Unreslricted Current assets Current liabililies 45,082 (22,476) 84,346 {29,856) 94,952 224,380 (8,376) (60. 708) At 37 March 2020 22,606 54,490 86,576 163.672 16. Control The charity is controlled by the Twstees. 17. Related party transa¢llons During the year. the Charity made grants and donations arnounting to £29.246 (2020 - £61,698) to Davenant Foundation School. During the year, Ihe charity was recharged salary cosls relating to peripatetic music staff amounting to £43,71712020 £84.4321 and administration amounting to £26,800 (2020 £27,042). In addition, there are various payments, which although they are not made directly to the school, are of benefit to the school, for example coach Iransport cosls. 22