Charity No. 307846 (England and Wales)
THE SKINNERS, SCHOOL FOUNDATION
TRUSTEE?S REPORT AIYD ACCOIINTS
FOR THE YEAR EIYDED 31 MARCH 2025

THE SKINIYERS, SCHOOL FOUNDATION
COIYTENTS
Page
Report of the Trustee
Independent Examiner's report to the truste¢
Statement of financial activities
Balance sheet
Notes to the fllLqncial statements
8-16

THE SKINNERS, SCHOOL FOUNDATION
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 31 MARCH 2025
Introduction
Th¢ Skinners, School Foundation is registered as a charity underthe number 307846. It was established in 1880
(then known as The Skinn¢rs' Company's School) and had r¢sponsibility for the Skinners, School until the
early 1920s. The School (now an Academy) is a separate body under the control of its own governors. This
Charity holds the Academy's endowment and most of its land and buildin&5.
The Charity has two restricted funds, the Skinners, School General Prize Fund. which is registered with the
Charity Comrnission (under the same number as the parent charity) and The Skinners, Kent Academy Fund.
RefeTen¢¢s in this docum¢nt to '%he School" are to the Academy, and not to this Charity.
The address of the Charity is Skinners. Hall, 8 Dowgate Hill, Londo￿ EC4R 2SP.
Constitution & objects
The Charity's governing document 15 a Scheme made on 26 March 2006 which replaces fornier Schemes dated
19 May 1910, 5 November 1921 and 7 June 1932. The object of the Charity is the advancement of education
the provision of services and facilities for the Academy*
the provision of scholarships and prizes"
educational ancillary activities Inciden￿ to the running of the Academy.
b)
Trustee
The Worsbipful Company of Skinners is the sole Trustee. Each member of the Court of the Trustee is selected
with a view to retaining a broad spectrum of expertise and re¢eiv¢s an induction into the responsibilities of
trusteeship and ongoing training wher¢ required.
OwDersbip of land and buildings
Apart from Southfields Park Playing Fields and the ￿etaker'S house, which were transfetred from the LEA to the
School on l April 1992, the school buildings and land are held by the Skinners, Company as Trustee for the
Charity.
The Charlty's operations
The endowment income and donations received perniit the Charity to:
Maintain and improve the buildings of th¢ Academy by financing expenditure for which other funding is
not available.
Provide advice and technical support to the Governors of the School.
These main objectives do not change from year to year.
Page I

THE SKINNERS, SCHOOL FOUNDATION
REPORT OF THE TRUSIEE (continued)
FOR THE YEAR ENDED 31 MARCH 2025
Finanelal review
This was a stable year for the charity, with no particularly noteworthy events to report. The deficit on undesignated
funds was corrected and the charity is in good fuwi¢ial health.
Unrestricted funds (undesignated)
The undesignated funds are the fimds available to the Trustee for the general purposes of the Charity.
The following summary of movements in the undesignated funds is drawn from the attached Statement of
Financial Activities.
2025
2024
iture on:
Cbarktable Activities
Governance
33,627
7,090
40,717
53,933
20,446
74,379
Income from:
Investment income - Dividends
- Interest
15.270
10,590
1,387
1,387
Surplus/(defi¢it) before transfers
Funds transferred to desiwted funds re capitslised assets
(39,330)
(48,519)
Surplus after transfers
(39,330)
(48,519)
Cash to finance a buyout of the pension fimd in 2014 was boTrowed from Skinners Malmesbury Foundation,
repayable interest free over 14 year5 as shown in note 13. The funds are now ow¢d to Skinnffls Education
Foundatio
The support given each year by Skinners, Company charities is liable to fluctuate in amount. but the Tnistse is not
aware of any possible withdrawal.
Designated fvnds - general
Designated funds are maintained at a level equal to the written down value of school buildings on the CharAty'S
balance sheet. This reflects the fact that the funds represented by those assets ￿e not available for distribution.
Any minor capitsl projects were met from the government funded School Condition Allocation which passes
through the Foundation and in]mediately on to the Academies.
Restrieted fund- Prize Fund
This is the Skinners, Academy General P]ize Fund. Its income and expenditure are detailed in note I l.
Restricted fund- Armes
This was a donatkon forni RB.H. Arnies in 2024. It is restricted for capital projects for Skinners School
Page 2

THE SKIIYNERS, SCHOOL FOUNDATION
REPORT OF THE TRUSTEE (continued)
FOR THE YEAR ENDED 31 MARCH 2025
Financlal revieTrv (continued)
Restricted Fund- Sklnners, Kent Academy {SKA)
The Skinn¢rs' Academy is the lead sponsor to the Skinners, Kent Academy> which opened in September 2009.
The Academy is committed to the good governance of the SKA, in¢luding the provision of the majority of the
Governors and to using its best endeavours to build up a fund for the benefit of the pupils of the Kent Academy.
The Foundation is assisting the Academy in fulfdling its role as lead sponsor of the SKA. The Skinners, Kent
Academy has become a Multi Academy Trust (MAT) having taken on Skinners Kent Primary School. The
Board of Trustees now sit over both SKA and SKPS with local Governing Bodies acting at each of the schools
with restricted powers as set out in Schemes of Delegation.
Endowment fund
The original endowment of £20,000 was contributed by Thomas Huavs Charity, Lawren¢e Atwell's Charity and
the Skinners, Company when the charity Started in 1880. The endowment was further enhanced by the sale for
£65,000 of part ofthe school land known as "Hillgarth" in March 1973. the sale of the balance of that land in May
1976 realised £27,000. The fi￿d is now invested as shown in note 10 and the income earned is treated as accruing
to the unrestricted funds, as shown in the Statement of Financia] Activities.
Availabilfity of a&8ets
The Trustee confmns that the assets of the UndesIgnat￿ restricted and endowment fund5 are available and
adequate to fulfil the relevant obligations.
Reserves policy
The Charity exists solely to support the Academies and all its fi￿dS are devoted to this purpose. There is therefore
no intsntion to hold reserves. From time to time undesI￿ated funds may be accumulated, but this will generally
be to fund a major item of ￿pendIture such as a new building.
Rbk management
The Trustee has sought to identify the major risks to which the Charity is exposed and have established systems
to ensure that these risks are reviewed and are minimised as far as possible.
Publ1¢ benefit
The Trustee h&8 complied with the duty in section 4 of the Charities Act 2011 to have due regard to all guidan¢¢
published by the Charity Commission.
Trustee's responsibilities
The Trustee is responsible for preparing the Trustee's Report and th¢ financial statements in attordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally A￿epted Accounting
Practice).
The law applicable to charities in England & Wales requires the trustee to prepare financial statements for each
financial year which give a tnie 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 these financial statements, the Trustee
is required to:
select suitable accounting ￿licieS and then apply them consistently9
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departwes
disclosed and explained in the ftnancial statements"
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
Page 3

THE SKINNERS, SCHOOL FOUNDATION
REPORT OF THE TRUSTEE (continued)
FOR THE YEAR ENDED 31 MARCH 2025
The Truste¢ is responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the financial position of the charity and 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
ded. They are also responsible for safeguarding the &8sets of the charity and hence for taking reasonable stcps
for the prevention and detection of fraud and other irregularities.
Bankers alld professional advisers
Bankers
Royal Bank of Scotland PLC
City Office
62163 Threadneedle Street
London
EC2R 8LA
Solicitors
Farrer & Co LLP
66 Lincolns Inn Fields
London
WC2A 3LH
Independent Examiller
Cara Turtington FCA DChA
Safftry LLP
71 Queen Victoria St
London
EC4V 4BE
Insurance Advisers
Marsh Brokers Limited
FAlucation Practice
Capital House
1-5 Perrymount Road
Haywards H¢ath
West Sussex
RH16 3DY
Approved by the Trustee on 4 December 2025
and signed on its behalf by
ACP
C]e
ett
Page 4

THE SKINNERS, SCHOOL FOUNDATION
INDEPENDENT EXAMINER?S REPORT TO THE TRUSTEE
FOR THE YEAR EM)ED 31 MARCH 2025
I report to the trustees on my examination of the accounts of The Skinners, School Foundation (the Charity) for
the year ended 31 March 2025.
Respective Responsibilities of trustees and examiner
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 ('the Act.).
I report in respect of rny examination of the Charity's accounts carried out under section 145 of th¢ 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) of the Act.
Basts of indepeDdent examiner's report
My eXami￿tion was Carried out in accordance with the general Directions given by the Charity Commission.
An examination includes areview of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes ¢onsideration of any unusual items or disclosures in the accounts,
and seeking explanations from you as trwstees concerning any such matters. The procedures undertaken do not
provide all the eviden¢e that would be required in an audit and consequently no opinion is given as to whether
the accounts pres¢nt a 'true and fair view, and the report is limited to those matters set out in the statement
below.
Independent examiner's statement
I have completed my examination. I confirn] that no material matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
l. accounting records were not kept in respect of the Charity as r¢quired by sedion 130 of the Act" or
2. the accounts do not accord with those records: or
3. the accounts do not comply with the applicable requirements concerning th¢ forni and content of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirementthat the accounts give
a 'true and fair view. which is not a matter considered as part of an independent examinatio
I have no concerns and have come across no othermatters An connection with the examinationto which attention
should be drawn in this reFK)rt in order to enable a proper understanding of the ac¢ounts to be reached.
Cara Turtington FC
Saffery LLP
71 Queen Victoria Street, London, EC4V 4BE
Date:
I I P£c&knAozf
Page 5

IBI.

THE SKINNERS, SCHOOL FOUIYDATION
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
Fixed assets
School buildings
1,209,353
1,251,123
1,209.353
1251,123
Current assets
Debtors
Cash at bank and in hand
12
50,905
2,470,284
021
2,451.257
2,521,189
2,451,878
Liabilities
Amounts falling due within
one year
Plet current assets
13
(14,000)
(8,768)
2,512,421
2,437,878
Amounts falling due after more
than one year
Net a&4ets
13
(15,192)
(21.972)
3,706,582
3,667,029
Funds
Endowment Fund
Restricted Fund- Prizes
Restricted Fund- SKA
Restricted Fund- Arnies
Restricted Fund - Harris
Designated Fund- G¢n¢ral
Undesignated Fund
14
259,738
15,732
(69,280)
50,189
2.310,494
1,209,353
(69,644)
259,738
15,732
(69,280)
2,240.030
1,251.123
(30,314)
3,706,582
3,667,029
ed by the Tnthe on 4 December 2025 and signed on its behalf by
A Kenn
Clerf(
Page 7

THE SKINNERS, SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Aeeounting policies
1.1 Basis of accountlng
The accounts are prepared under the historical cost Convention as modified by the revaluation of
investments (including property hcld for investment purposes). and in accordance with the second ¢dition
of the Stat¢ment of Recommended Practice: Accounting aTKI Reporting by Charities preparing their
accounts in accordanc¢ with the second edition of the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) published in October 2019 and the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The
a¢crnals basis is follow¢d throughout. The accounts (fllwicial statements) hav¢ been prepared to give a
'true and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only
to the extent required to provide a 'true and fair view.. This departure h&s involved following Accounting
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable inthe UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather thanthe Accounting
and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has
since been withdrawn.
The Charity constitutes a public benefit entity as defined by FRS 102.
The fU￿ClaI statements are prepared in sterling, which is the functtonal currency of the Charity.
Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
Investment markets are enduring a period of uncertainty and instability. However, investments are held
for the long terni and valuations are expected to recover over the long terni. After reviewing the Charity's
forecasts and projections, the Trustee has a reasonable expectation that the Charity has adequate resources
to continue in operational existence for the foreseeable future. The Charity will have negligible
expenditure going fonvard and income in future years will be used to bring the funds back into Credit over
the next few years. The Charity therefore continues to adopt the going concern basis in Pre￿ing its
accounts.
1.3 Income
Donations and legacies are accounted for &8 and when entitlement arises, the amount can be reliably
quantified and the economic benefit to the charity is considered probable.
Dividends and interest on inveslments are reCo￿lIsed when they become due and payable.
1.4 Expenditure
Expenditure is accrued as soon &8 a liability is considered probable.
1.5 Academy premises and depreciation
Expenditure of a capital nature on school buildings is capitalised and is written down on a straight line basis
over 50 years. This policy was adopted for the fwst time in the accounts for the year to 31 March 2001. In
previous years such expenditure was written off in the year in which it was incurred.
1.6 Investments
tnvesiments are stated in the balance sheet at market value, any realised or unrealised surplus or deficit
being taken to the Statement of Financial Activities.
Page 8

THE SKINNERS, SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR EIYDED 31 MARCH 2025
1.7 Charitable actfvlties
Costs of ctwitable activities Comprises direct costs attributable to each activity which include ￿ants made
to third parties and directly attributable overhead and support costs, including governance costs, as shown
inNote 4.
1.8 Cash and easb equivalents
Cash and cash equivalents include cash in han& deposits at call with banks and bank overdrafts.
1.9 Finanelgl Instruments
The Charitable Fund only has financial assets and financial liabilities of a kind that qualify as basic
financial instnllnents. Basic financial instruments ar¢ initially re￿gnised at transaction value and
subsequently measured at theiT settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method. The charity has selected to apply the
provisions of Section I I 'Basic Fitwicial Instruments, and Section 12'0ther Financial Instruments Issues,
of FRS 102 to all of its fmancial instruments.
1.10 Unrestricted funds
General fimds are donations and other incoming resources receivable or generated for the objects of the
charity without specified purpose. Designated funds are maintsined at a level equal to the ￿Itten down
value of School buildings on the charity's balance sheet.
1.1 l Restrietsd funds
This is the Academy's general prize fund and the Skinners, Kent Academy (SKA) fund. The Academy
is committed to the good governance of the SKA, including the provision of the majority of the
Governors, for an initial period of seven years, and to using its best endeavours to build up a fund for the
benefit of the pupils of the SKA. The Foundation is assisting the Academy in fulfilling its role as Eead
sponsor of the SKA.
The Charity has been a major beneficiary of the estate of Mr Colin Harris who left 51P/o of his residuary
estate for the benefit of the Charity to be spent on capital works at the School or prizes.
1.12 Endojvment fund
The endowment fund is pernianent and has been received by way of donations over a number of yearJ.
Income arising from this fund can be used for general purposes.
Donations and legaeies
2025
2024
Donations - Arnies
Legacy- Mr Colin Harris
50,189
2.453,860
50,189
2,453,860
Investment income
2025
2024
Dividends
15.270
Interest
1,387
82,464
10,590
22241
Interest- Ha￿lS Fund
83,851
48.101
Page 9

THE SKINNERS, SCHOOL FOUI¥4DATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR EIYDED 31 MARCH 2025
Resources expended for year ended 31 Mareb 2025
Charitable activities
Aeademy
SKA
Total
Grants for depreciation of property
Grants to Academy- Harris Fund
Salaries, national insurance, elc
Office accommodation
Independent examination
Other professional fee
Insurance
Gov¢rnors' meeting expenses, etc (note 6)
Governors, training
Staff travel (note 7)
Bank Charges
Prizegiving expenses
Printing and other office costs
Totsl resources expended
41,770
12,000
31,873
4,416
3.449
41,770
12,000
31,873
4,416
3,449
801
76
801
76
49
49
46
46
94.487
94,487
Comparative figures for resources expended for year ended 31 March 2024
Academy
SKA
TotAI
Grants for depreciation of property
Grants to Skinners Primary School
Grants to Academy- Harris Fund
Salaries, national insurance, etc
Office accommodation
Independent Examination fee
Other professional fee
Insurance
Governors, meeting expenses, etc (note 6)
Governors, training
Staff travel (note 6)
Bank Charges
Prizegiving expenses
Printing and other office costs
Total resources expended
41.770
41,770
1,156
236,071
117,595
12,660
7,367
926
1,254
1,580
5,702
900
12
1,926
411
1,156
236,071
55,459
5,940
7,367
461
703
926
2,851
450
12
62,136
6,720
465
551
654
2,851
450
1,926
201
210
352,220
77,110
429,330
Governance cost included in above
2025
2024
Salaries, national insurance, etc
Independent Examination fee
Printing, postage and telephone
Bank charges
Office accommodation
3,187
3,449
11,760
2,092
41
12
442
7.090
15,171
Page 10

THE SKINNERS, SCHOOL Foul￿ATIO1¥
NOTES TO THE Fll¥ANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
Administration
The amounts stated for salaries, National Insurance. printi￿ postage, telephone and other office expenses
include certain costs incwred by th¢ Skinners, Company in administering the affairs of the Charity und¢r
a "Paymaster Arrangement" Costs for 6 employees were recovered under this arrangement (2024.7).
These totalled £31,919 (2024: £118,006). The share of salary costs reimbursed to the Skinners. Company
did not exceed £60,000 in respect of any one individual gnd totalled £31.873 (2024: £117,595). No
remuneration was paid to the Trustee.
Meetlng e￿enseS and travel
These figures include the cost of travel and refreshment for meetings of the Governing Body of the
Academy as well as for visits of pupils to Skinners, Hall and cetsin expe￿￿eS ¢(Kmected with the annual
prize giving.
No reimbursement of eXpe￿5¢S has been made to the Trustee in connection with its services to the Charity.
Transfers behveen fund8
A transfer is made from undeSi￿d to designated funds of an amount equal to the gross capital
expenditure in the year on school buildings less the depreciation Charge forthe year. This reflects the fact
that the fimds represented by those assets are not available for distributio
Page 11

THE SKINIYERS, SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMEIYTS (continued)
FOR TH￿ YEAR ENDED 31 MARCH 2025
Aeademy bulldln
2025
2024
Cost
At l April
Additions
2,088,499
2,088,499
At 31 March
2,088,499
2,088,499
Depredation
At l April
Clwge for the period
837,376
41,770
795,606
41,770
At 31 March
879,146
837,376
Iyet book value
At 31 March
1,209,353
1,251,123
Page 13

THE SKINNERS, SCHOOL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR EIYDED 31 MARCH 2025
10
Investments and ullrealised gains
2025
2024
Endowment Fund
Market Value brought forward
Additions
Disposals
Loss on disposal
Unrealised loss in portfolio
Market Value at 3 l March 2025
272,854
(259,738)
(13,116)
Restricted Fund
Market Value brought forward
Additions
Disposals
Loss on disposal
Unrealised10&8 in ￿rtfoliO
Market Value at 31 March 2025
12,984
(12,225)
(759)
Total Market Value of Investments at 31 March
11
Restricted fund- Prize fund: Movements in year
Income
Capltal
Total
Balance at 31 March 2024
3,507
12,225
15,732
Net movement on Income and Expenditure
Unrealised loss on Anvestments for the year
Balance at 31 March 2025
3,507
12,225
15,732
Page 14

THE SKtNNERS' SCHOOL FOUNDATION
NOTES TO THE FINIINCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
Comparative figures for Restricted fund: Movements in year for year ended 31 March 2024
Capital
Income
Total
Balance at 31 March 2023
3,507
12,984
16,491
Net movement on Income and Expenditure
Unrealised gain on investments for the year
(759)
{759)
Balance at 31 March 2024
3,507
12,225
15,732
12 Debtors
2025
2024
I¥epayments
Donations
Otber
621
50,405
500
Total
50,905
621
I3 LIAbilitie
2025
2024
Audit/Independent examination fee
Other creditors
Long terni loan due within one year
Totsl creditors due in I￿S than one year
1,900
88
6,780
8,768
7.220
6,780
14,000
Long tenn loan due after more than one year
15,192
21,972
The long tern] loan is an interest free loan from Skinners, Education Foundation (Registered Charity
Number 1199922) repayable by monthly instalments over 14 years and should be fully repaid by 2029.
This loan was received for charitable purposes to fund the Charity's Portion of the defmed benefit pension
fimd buyout.
14 Allocation of net assets to funds for year ended 31 Mar¢h 2025
UnMJtYlct•
T+]tal
od.SK
Arwel
Fixtd
1,209,353
1,21ff),3S3
Netvjrrart
aMelsle5
lon$ tt
{69.6441
15.732
(692801
50.189
2JIO,494
259.738
2.4YI229
169,6M)
1.209,35)
15.732
69.280)
50.189
2JIO.494
2$9.731
3,706582
Page 15

THE SKINNERS, SCHOOL FOUNDATION
NOTES TO THE FINANC￿ STATEMENTS (continued)
FOR THE YEAR EM)LD 31 MARCH 2025
Comparative figures for allocation of Det assets to funds for year ended 31 March 2024
Unrestritted
rwidg
Dtsign*ted
f•J
Restricted
fynd-
Rtitritttd
R￿trIcted
Endmvm¢nt
fwnd
Total
Haris
FllLed assets
Acaikmy
buildings
Iov¢stments
1.251.123
1.251,123
(30,314)
15.732
(69,280)
2240,030
259,738
2,415,906
le&8 long term
liabililies
Net
01obiliti¢&yAa8ets
(30,314)
1.251.123
15,732
(69280)
1240,030
259,738
3,667,029
15 Capitvdl commitments
There w¢r¢ no capital commitments at 31 March 2025 (2024 none).
16 Related party transactions
During the course of the year £4.416 (2024: £16,343) excluding VAT was paid to a company wholly owned
by th¢ Worshipful Company of Skinners, in respect of recharges for rent and other costs. All such Techarges
were made on an arni's length b&sis. Related party transactions in respect of staff cs)sts are detailed in note 5.
17 T￿ation
The Skinners, School Foundation is a regist¢r¢d cllarity at]d its income is not liable to dir¢¢t ts￿￿tIOn as it is
applied to wholly charitable purposes.
Page 16