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|CONTENTS||||Page|
|Report ofthe|Trustee|||1-4|
|Independent|examiner's||report to the trustee||
|Statement of|financial||activities||
|Balance sheet|||||
|Notes to the financial||statements||8-15|
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|Financial Activitie|s.||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
|Ex enditure
on:|||||||
|Charitable
Activities|||||48,159|37,998|
|Governance|||||13,762|12,327|
||||||61,921|50,325|
|Income from:|||||||
|Voluntary
income||- Donations|||57,500|55,500|
|Investment
income||-Dividends|||11,985|10,558|
|||-Interest|||5|32|
||||||69,490|66,090|
|Surplus before transfers|||||7,569|15,765|
|Funds transferred|to|designated|funds re capitalised|assets|||
|Surplus after transfers|||||7,569|15,765|
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|Bankers||||||
|---|---|---|---|---|---|
||||Royal Bank ofScotland PLC|||
||||City Office|||
||||62/63 Threadneedle||Street|
||||London|||
||||EC2R 8LA|||
|Solicitors|||Farrer &CoLLP|||
||||66Lincoln's Inn|Fields||
||||London|||
||||WC2A 3LH|||
|Independent||examiner|Cara Turtington|FCA DChA||
||||Saffery Champness||LLP|
||||71Queen Victoria||St|
||||London|||
||||EC4V4BE|||
|Insurance|Advisers||Marsh Brokers Limited|||
||||Education Practice|||
||||Capital House|||
||||1-5Perrymount|Road||
||||Haywards
Heath|||
||||West Sussex|||
||||RH16 3DY|||
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|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Notes|||||
|Fixed assets|||||||||
|School buildings||||9||1,334,663||1,376,433|
|Endowment
Fund investments||||10||291,356||278,991|
|Restricted|Fund investments|||10||13,836||12,958|
|||||||1,639,855||1,668,382|
|Current|assets||||||||
|Debtors||||12|623||788||
|Cash at bank and in hand|||||72,262||71,117||
||||||72,885||71,905||
|Liabilities|||||||||
|Amounts
one year|falling due within|||13|(10,379)||(11,127)||
|Net current assets||||||62,506||60,778|
|Amounts
more than|falling
one year|due|after|13||(35,532)||(42,312)|
|Net assets||||||1,666,829||1,686,848|
|Funds||||14|||||
|Endowment
Fund||||||291,356||278,991|
|Restricted|Fund —Prizes|||||16,553||14,974|
|Restricted|Fund —SKA|||||17,005||16,767|
|Designated|Fund —General|||||1,334,663||1,376,433|
|Undesignated
Fund||||||7,252||(317)|
|||||||1,666,829||1,686,848|
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|4|Resources expended for|year ended 31March 2022|year ended 31March 2022||||
|---|---|---|---|---|---|---|
||Charitable
activities|||Academy||Total|
||Grants for depreciation ofproperty|||41,770||41,770|
||Grants to Skinners Primary||School||1,287|1,287|
||Salaries, national
insurance,||etc|45,972|58,647|104,619|
||Office accommodation|||6,900|8,910|15,810|
||Independent
Examination|fee||1,620||1,620|
||Other professional
fee|||3,302|2,718|6,020|
||Insurance|||622|483|1,105|
||Governors'
meeting expenses, etc (note 6)|||827|191|1,018|
||Governors,
training|||1,359|1,716|3,075|
||Stafftravel (note 6)|||293|389|682|
||Bank Charges|||13||13|
||Clerking expenses|||563|510|1,073|
||Printing
and other office costs|||450|411|861|
||Total resources expended|||103,691|75,262|178,953|
||Comparative
figures for resources expended for year|||ended 31March|2021||
|||||Academy||Total|
||Grants for depreciation ofproperty|||41,770||41,770|
||Grants to Skinners Primary||School||9|9|
||Salaries, national
insurance,||etc|39,862|50,138|90,000|
||Office accommodation|||6,780|9,690|16,470|
||Independent
Examination|fee||1,600||1,600|
||Other professional
fee||||7,137|7,137|
||Insurance|||481|606|1,087|
||Governors'
meeting expenses, etc (note 6)|||255|235|490|
||Staff travel (note 6)|||7|15|22|
||Bank Charges|||18||18|
||Clerking expenses|||674|674|1,348|
||Printing
and other office costs|||293|324|617|
||Staff hospitality|||355||355|
|||||92,095|68,828|160,923|
||Governance
cost included|in|above||2022|2021|
||Salaries, national
insurance,||etc||10,462|9,000|
||Independent
Examination|fee|||1,620|1,600|
||Printing, postage and telephone||||86|62|
||Bank charges||||13|18|
||Office accommodation||||1,581|1,647|
||||||13,762|12,327|
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||||||Undesignated|Designated|Restricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Funds|Fund|Fund|Fund|Fund||
|||||||General|SKA|Prizes|||
|Income from:|||||||||||
|Donations
and legacies|||||55,500||70,500|||126,000|
|Investments|||||10,590|||895||11,485|
|Total income and endowments|||||66,090||70,500|895||137,485|
|Expenditure
on:|||||||||||
|Charitable
activities|||||(50,325)|(41,770)|(68,828)|||(160,923)|
|Net gains on investments||||||||2,334|39,883|42,217|
|Net income/(expenditure)|||||15,765|(41,770)|1,672|3,229|39,883|18,779|
|Transfers
between
funds|||||||||||
|Net movements
in|funds||||15,765|(41,770)|1,672|3,229|39,883|18,779|
|Balances
brought
forward||at|1|April|(16,082)|1,418,203|15,095|11,745|239,108|1,668,069|
|2020|||||||||||
|Balances carried|forward|||at 31|(317)|1,376,433|16,767|14,974|278,991|1,686,848|
|March 2021|||||||||||
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|Academy
buildings||||
|---|---|---|---|
||Note|2022|2021|
|Cost|1.5|||
|At 1 April 2021||2,088,499|2,088,499|
|Additions||||
|At 31 March 2022||2,088,499|2,088,499|
|Depreciation|1.5|||
|At 1 April 2021||712,066|670„296|
|Charge for the period||41,770|41,770|
|At 31March 2022||753,836|712,066|
|Net book value||||
|At 31 March 2022||1,334,663|1,376,433|
|At 31March 2021||1,376,433|1,418,203|
|10|Investments
and unrealised|gains|gains|gains||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||Endowment
Fund|||||||||
||Market Value brought
forward|||||||278,991|239,108|
||Additions|||||||||
||Disposals|||||||||
||Unrealised
gain in portfolio|||||||12,365|39,883|
||Market Value at 31March 2022|||||||291,356|278,991|
||Restricted Fund|||||||||
||Market Value brought forward|||||||12,958|10,624|
||Additions|||||||||
||Dispo sais|||||||||
||Unrealised
gain in portfolio|||||||878|2,334|
||Market Value at 31 March 2022|||||||13,836|12,958|
||Total Market Value ofInvestments||||at31March|2022||305,192|291,949|
||As at 31March 2022 the charity|||held the following||material|investments:|||
|||||||||Market|%of|
|||||||||value|portfolio|
||Investment|||||||||
||M&G Charibond
Shares|||||||65,423|21.4|
||M&G Charifund
Units|||||||239,769|78.6|
|11|Restricted fund: Movements||in year|||||||
||||||||||Total|
||||||||Income|Capital|2022|
||Balance at 31March 2021||||||2,016|12,958|14,974|
||Net movement
on Income and||Expenditure||||701||701|
||Unrealised
gain on investments|||for the|year (note 10)|||878|878|
||Balance at 31March 2022||||||2,717|13,836|16,553|
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|Allocation|ofnet assets to|funds for year|ended 31M|arch 2022||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Designated|Restricted|Restricted|Endowment|Total|
|||funds|fund|fund-|-SKA|fund||
|||||prizesfund||||
|Fixed assets||||||||
|Academy
buildings
investments|||1,334,663|13,836||291,356|1,334,663
305.192|
|Net current
liabilities|assets less long term|7,252||2,717|17,005||26.974|
|Net assets||7,252|1,334,663|16,553|17,005|291,356|1.666,829|
|||Unrestricted|Designated|Restricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
|||funds|fund|fund-|-SKA|fund||
|||||prizesfund||||
|Fixed assets||||||||
|Academy|buildings||1,376,433||||1,376,433|
|investments||||12,958||278,991|291,949|
|Net current|assets less long term|(317)||2,016|16,767||18,466|
|liabilities||||||||
|Net (liabilities)/assets||(317)|1,376,433|14,974|16,767|278,991|1,686,848|
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|||2022|2021|
|---|---|---|---|
|Quoted securities:||||
|Restricted|Prize fund|7,826|6,948|
|Endowment|Fund|214,080|201,715|
|Total||221,906|208,663|
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