# **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
# **TRUSTEES’ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**31 JANUARY 2021**
**Charity Number: 311604**
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
|**Contents**|**Page**|
|---|---|
|Trustees’ Annual Report|3 – 6|
|Reference and Administrative Information|7 – 8|
|Independent Examiner’s Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes forming part of the Financial Statements|12 - 17|
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 JANUARY 2021**
## **Objectives and activities**
The objects of the charity are to maintain and repair the building of St Mary Redcliffe and Temple Church of England Secondary School and to provide additional benefits to those provided by the Local Authority to St Mary Redcliffe Secondary and Primary Schools. Also, to provide grants for educational purposes to persons who have attended the school and are in need of financial assistance.
Due to COVID the school facilities that are normally let out to the community were suspended between March 2020 and September 2021. We have risk assessed which lettings are safe to reintroduce and these have started to return. Swimming clubs have returned at weekends as well as various regular hirers to the Sports Hall, Gym and the Main School Hall. The Open University have informed us that they will not be using any facilities until February 2022 at the earliest. After paying for associated expenses, these lettings raise enough income to provide a grant to Executive Trustees to maintain the school buildings and to provide resources from which various maintenance and capital projects can be funded. Whilst income over the year has been restricted due to the pandemic, trustees have continued to cover the wages and other costs associated with caretaking and other staff involved in lettings, as they are ineligible for furlough payments.
The Trustees confirm that they had due regard to the public benefit guidance published by the Charity Commission.
## **Activities and performance**
The income from lettings decreased by £109,598 to £32,669 (2020 - £142,267). The Trustees have paid grants of £30,217 (2020 - £23,217) to the school Governors’ for Trustees’ 10% contribution to the cost of LCVAP (Locally Co-ordinated Voluntary Aided Programme) projects and £23,371 (2020 - £20,353) for other school costs.
## **Future plans**
The school was awarded £193,652 through School Capital Allocation ((SCA) formerly known as LCVAP) from 1/2/2020 to 31/1/21 together with £19,159 from DFC. This means that Trustees will need to budget for £21,281 being their 10% contribution towards these costs.
During 2020 the foci for the year was on completing the final phase of re-roofing the Temple Colston (renamed Ikoba in September 2020) Building as well as the installation of a new sound and lighting system in the school’s Main Hall, and the removal of any asbestos in the ceiling area. New curtains conforming to current fire safety standards were also hung on the stage. SCA funding was secured towards the cost of this work, as well as additional contributions from Trustees. The Main Hall has also been renamed in memory of Mrs Marion Shackell, due to her long association with the school
During 2021 the main focus will be recovering the Main School hall roof as well as the first phase of the Sixth Form Centre roofing project.
The Trustees continue their prudent policy of setting aside money from surpluses for large items of future expenditure which have been identified on the Asset Management Plan.
3
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 JANUARY 2021**
## **Structure, governance and management**
The charitable activities of the charity are undertaken by the Trustees as there is no Chief Executive or staff. The Trustees, as shown on page 7, meet once every academic term. These meetings are Minuted and some actions are delegated to the School Business Manager and Premises Manager.
The charity is governed by a scheme sealed by the Charities Commission on 18 February 1980 and the Trustees are nominated by the related organisations as set out on page 7.
## _**Recruitment, Induction and Training of Trustees**_
The scheme mentioned above clearly states that the Foundation Governors of the school are the Trustees of the Educational Charity.
There is no formal policy on or procedures for the induction and training of new Trustees or the training of existing Trustees. Instead, individual arrangements are made as appropriate (e.g. to introduce new Trustees to the charity and its affairs). Many Trustees have professional and business backgrounds or other specialist knowledge and experience and obtain relevant training and development opportunities as a result of those.
## _**Related parties and co-operation with other organisations**_
The charity has links with the following related organisation, whose generous help is gratefully acknowledged:
## _**St Mary Redcliffe Parochial Church Council**_
The PCC is responsible, with the priest appointed to have charge of the parish, for the church’s work in the parish and in the wider world and its participation in the overall life of the church (e.g. through deanery and diocesan Synods and deanery and diocesan links).
## _**Risk management**_
The Trustees have identified and reviewed the major risks to which the Charity is exposed and have established processes and controls to mitigate those risks. These include the appointment / engagement of professional advisors for bookkeeping, independent examination, investment management and legal advice as listed on page 8.
The charity’s chequebook is now held by the school, with requests confirmed by two of the Trustees (normally the Chairs of the Executive Trustees and Educational Charity Committees).
The main source of income stems from lettings of school facilities at St Mary Redcliffe and Temple School which are administered and managed on a day-to-day basis by the School Business Manager and Premises Manager. During 2019/2020 a new updated bespoke software package called Schools’ Cash Office was purchased and is used to produce reports which are regularly reviewed by the School Business Manager, including in particular the Aged Debtor List, which is also reported to Trustees at their meetings.
4
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 JANUARY 2021**
## _**Ethical investment policy**_
The following ethical investment policy was followed in the year:
- The charity seeks to maximize its income and assets in order to further its work as set out in its objects, but not at any cost.
- The Trustees would prefer to invest in companies which demonstrate responsible employment and best corporate governance practice.
- The Trustees will decide the meaning of substantial proportion in relation to a specific company. As guidance, 20% to 25% should be considered as a substantial proportion.
- Discouraged activities include, but are not limited to: promotion of pornography; promotion of gambling; supply of armaments; manufacture or supply of tobacco; home credit providers.
## **Financial review and results (refer to the Statement of Financial Activities on page 10)**
Investment income and interest is generated from the investments held which has decreased to £14,939 from £17,445 (page 13). The total income for the year was £47,608 compared to £159,712 in 2020 (page 10).
The main expenditure was the grants of £53,588 (2020 - £43,570) to the school Governors (page 13). There were also lettings expenses of £31,686 (2020 - £29,098) towards the caretakers’ costs, administration costs for issuing and chasing invoices and the purchase of a new updated software package. Support costs of £9,783 have increased from £8,188 in the year ended 31 January 2020 due to an increase in the number of Bursaries awarded and bookkeeping costs (page 14).
The total expenditure has increased from £82,986 in 2020 to £97,127 in 2021 (page 10). There was a net gain on investments sold of £6,552 in 2021 (2020 – loss of £1,045) and a net unrealised loss of £7,321 (2020 – gain of £24,959) on the increase in the market value of the investments at the end of the year arising from market trends. This results in an overall net decrease in funds of £50,288 (2020 – increase of £100,640) in the year (page 10).
## _**Commitments**_
The school employs a team of caretakers who are largely engaged in the managing of the letting of the school buildings in the evenings and at weekends on behalf of the Executive Trustees of SMRT. The Executive Trustees have agreed that the associated employment costs and contributions towards heating and lighting will continue to be met from the lettings income for the coming year. Both the Executive Trustees and Trustees of St Mary Redcliffe with Temple Educational Charity commit annually to providing 10% towards any LCVAP funding granted to the school.
## _**Reserves policy and going concern**_
The charity aims to maintain a reserve of at least £50,000 to cover 12 months of expenditure. The free reserves of the charity as at 31 January 2021 are £126,368 which is in line with the policy.
The trustees have reviewed the circumstances of the charity and consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future. The Trustees are of the view that the charity is a going concern.
5
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 JANUARY 2021**
## _**Investment policy**_
The investment policy of the charity is governed by the Charities (Trustees’ Investment Act 1961) Order 1995. The Trustees have delegated the management of their investments to investment advisors, J M Finn & Co, who currently manage the investments following the criteria of maintaining capital value and optimising income.
## **Trustees’ Responsibilities in relation to the Financial Statements**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient 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 deed/constitution. They are 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.
Approved by the trustees and signed on their behalf by:
………………….. ………………….. Mrs Karen Brown Mr Andrew Burton Chair Trustee
Approved by the Trustees on 30 November 2021
6
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **REFERENCE AND ADMINISTRATION**
## **YEAR ENDED 31 JANUARY 2021**
## _**Governing Document**_
St Mary Redcliffe with Temple Educational Charity was established by a scheme sealed by the Charity Commission on 18 February 1980. It is a registered charity, number 311604.
## _**Trustees**_
## _Vicar_
Canon Daniel Tyndall
_Nominated by St Mary Redcliffe Parochial Church Council_
Mr Peter Farr (retired 1 March 2020) Mrs Nicola Claire Alsop Mr Paul Sylvester
_Nominated by Temple Ecclesiastical Trustees_
Mrs Greca Warr
_Nominated by the Diocese_ Mrs Karen Brown – Chair Mr Andrew Burton Mrs Denise Nixon Mrs Christina Cunningham Mr Philip Coomber (appointed 28 April 2020) Miss Aisha Thomas (appointed 12 March 2020)
## _**Key management personnel**_
The Trustees comprise the key management personnel of the charity.
## _**Trustees and Governors**_
The report and accounts only relate to the Trustees income and expenditure.
## _**Principal Office**_
St Mary Redcliffe and Temple School Somerset Square Redcliffe Bristol BS1 6RT
7
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **REFERENCE AND ADMINISTRATION**
## **YEAR ENDED 31 JANUARY 2021**
## _**Professional Advisers**_
_Stockbrokers_ J M Finn & Co 31 Great George Street Bristol BS1 5QT _Bankers_ National Westminster Bank Plc Ashton Gate, Bristol (A) Branch PO Box 235 North Street Bristol BS99 5AW _Independent Examiner_ Joshua Kingston ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
8
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **INDEPENDENT EXAMINER’S REPORT**
## **YEAR ENDED 31 JANUARY 2021**
## **Independent Examiner’s Report to the trustees of St Mary Redcliffe with Temple Educational Charity**
I report to the trustees on my examination of the accounts of St Mary Redcliffe with Temple Educational Charity (the Charity) for the year ended 31 January 2021.
## **Responsibilities and basis of report**
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 my examination of the Charity’s accounts carried out under section 145 of the 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.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 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 the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joshua Kingston ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: 30 November 2021
9
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **YEAR ENDED 31 JANUARY 2021**
|**Note**
**Income from:**
Charitable activities
**2**
Investments
**3**
**Total income**
**Expenditure on:**
Raising funds
**4**
Charitable activities
**5,6,7**
**Total expenditure**
Net gains/(losses) on investments
**Net income/(expenditure)**
Net gains/(losses) on revaluation
of fixed assets investments
**Net movement in funds**
**15**
**Total funds at 1 Feb**
**15**
**Total funds at 31 Jan**
**15**|**Unrestricted**
**Restricted**
**Endowment**
**Total Funds**
Total Funds
**Funds**
**Funds**
**Funds**
**2021**
2020
**£**
**£**
**£**
**£**
£
32,669
-
-
**32,669**
142,267
14,762
177
-
**14,939**
17,445
47,431
177
-
**47,608**
159,712
33,756
-
-
**33,756**
31,228
63,371
-
-
**63,371**
51,758
97,127
-
-
**97,127**
82,986
-
-
6,552
**6,552**
**(1,045)**
**(49,696)**
**177**
**6,552**
**(42,967)**
75,681
-
-
(7,321)
(7,321)
24,959
**(49,696)**
**177**
**(769)**
**(50,288)**
100,640
**542,119**
**21,393**
**377,432**
**940,944**
840,304
**492,423**
**21,570**
**376,663**
**890,656**
940,944|
|---|---|
## **See note 11 for fund-accounting comparative figures**
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**The notes on pages 12 to 17 form part of these financial statements**
10
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **BALANCE SHEET**
## **AS AT 31 JANUARY 2021**
|**Note**
**Fixed assets**
Investments
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Liabilities**
**Creditors : amounts falling**
due within one year
**14**
Net current assets
**Net assets**
**FUNDS**
**Unrestricted funds**
General funds
**16**
Designated funds
**16**
**Restricted funds**
**16**
**Endowment funds**
**16**
**Total funds**|**2021**
2020
**£**
£
437,050
438,318
437,050
438,318
3,367
7,647
452,800
498,729
456,167
506,376
(2,561)
(3,750)
453,606
502,626
**890,656**
940,944
304,869
354,565
187,554
187,554
21,570
21,393
376,663
377,432
**890,656**
940,944|
|---|---|
These financial statements were approved by the Trustees on 30 November 2021 and are signed on their behalf by:
Mrs Karen Brown - Chair
Mr Andrew Burton - Trustee
**The notes on pages 12 to 17 form part of these financial statements**
11
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **1 Accounting policies**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Charities Act 2011, the Financial Reporting Standard 102 (FRS102) and the requirements of the Charities Statement of Recommended Practice based thereon.
The charity is a public benefit entity as defined under FRS102.
There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be a significant impact on the charity’s operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.
## **Income**
Income from donations is included in income when these are receivable, except as follows:
I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;
II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Legacies are included on a receivable basis where charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material.
Investment income is included on a receivable basis.
Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness.
## **Expenditure**
Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
## _**Raising funds**_
Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.
## _**Charitable activities**_
Grants awarded are allocated to charitable activities.
Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding.
## _**Governance costs**_
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
## _**Allocation and apportionment costs**_
Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time.
Overhead support costs have been allocated between fundraising and publicity costs, fundraising trading and charitable activities. The apportionment has been allocated on the basis of usage and is analysed in note 7.
## **Pension costs and other post-retirement benefits**
The charity contributes to defined contribution pension schemes. Contributions payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
## **Fixed asset investments**
Investments are included at market value at 31 January. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals during the year.
12
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **1 Accounting policies** _**(continued)**_
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.
Endowment funds must be retained in capital in perpetuity. The income from the funds is restricted or unrestricted depending upon the terms of each endowment.
## **2 Income from: charitable activities**
|Lettings income|**Total Funds**
Total Funds
**2021**
2020
**£**
£
**32,669**
142,267
**32,669**
142,267|
|---|---|
All income from charitable activities in the current and previous year is unrestricted.
## **3 Income from: investments**
|Dividends
Interest received|**Unrestricted**
**Restricted**
**Total Funds**
**Unrestricted**
**Restricted**
Total Funds
**Funds**
**Funds**
**2021**
**Funds**
**Funds**
2020
**£**
**£**
**£**
**£**
**£**
£
5,823
-
**5,823**
9,919
-
9,919
8,939
177
**9,116**
7,346
180
7,526
14,762
177
**14,939**
**17,265**
**180**
17,445|
|---|---|
## **4 Expenditure on: raising funds**
|Letting expenses
Management fees|**Total Funds**
Total Funds
**2021**
2020
**£**
£
**31,686**
29,098
**2,070**
2,130
**33,756**
31,228|
|---|---|
All expenditure on raising funds in the current and previous year is unrestricted.
## **5 Expenditure on: charitable activities**
|**Note**
Grant to Governors
**6**
Support costs
**7**|**Total Funds**
Total Funds
**2021**
2020
**£**
£
**53,588**
43,570
**9,783**
8,188
**63,371**
51,758|
|---|---|
All expenditure on charitable activities in the current and previous year is unrestricted.
13
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **6 Analysis of grants to governors**
The total costs of donations to the School during the year was as follows:
|10% Contribution to LCVAP and DFC
Equipment including sound system
Staff costs
Book tokens
CPOMS license
Forest School initiative
Oxford Reading Scheme
Number Partners provision
Ablaze provision
Other costs
**Support costs**
Bookkeeping and management accounts
Insurance
Bursary
Gifts
Fees to Bristol Diocese
Bank charges
Governance costs
_Independent Examiner's fee_|**2021**
2020
**£**
£
30,217
23,217
17,558
13,681
122
826
1,920
-
1,573
-
385
-
1,290
-
188
188
275
-
61
5,658
**53,588**
43,570
**Total**
Total
**2021**
2020
**£**
£
**3,932**
3,901
**560**
784
**2,100**
3,000
**232**
21
**3**
3
**2,137**
-
**819**
479
**9,783**
8,188|
|---|---|
## **7 Support costs**
## **8 Staff costs and numbers**
The average weekly number of employees during the year was NIL (2020: NIL), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension were £NIL (2020 payroll: £NIL).
## **9 Trustees and related parties**
No Trustees received any remuneration during the year (2020: £NIL), and the aggregate donations from Trustees to the School was £53,588 (2020: £43,570).
There were no transactions during the year with related parties.
## **10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
14
## **ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **11 Statement of Financial Activities comparative figures**
|**For the year ended 31 January 2020**
**Income from:**
Charitable activities - lettings
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
Net gains/(losses) on investments
**Net income/(expenditure)**
Net gains/(losses) on revaluation
of fixed assets investments
**Net movement in funds**
**Total funds at 1 Feb**
**Total funds at 31 Jan**
**Fixed asset investments**
**_Listed investments_**
At 1 February 2020
Acquisitions at cost
Proceeds on disposal
Net gain/(loss) on revaluation
At 31 January 2021
**_Cash or cash equivalents_**
**Debtors**
**Due in less than one year:**
Trade debtors
Prepayments and accrued income
**Creditors**
**Amounts falling due within one year:**
Accruals and deferred income|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
142,267
-
17,265
180
159,532
180
31,228
-
51,758
-
82,986
-
-
-
76,546
180
-
-
76,546
180
465,573
21,213
542,119
21,393|**Endowment**
**Total Funds**
**Fund**
**2020**
**£**
**£**
-
142,267
-
17,445
-
**159,712**
-
31,228
-
51,758
-
**82,986**
(1,045)
**(1,045)**
(1,045)
**75,681**
24,959
**24,959**
23,914
**100,640**
353,518
**840,304**
377,432
**940,944**
**2021**
2020
**£**
£
431,994
413,556
17,326
22,275
(9,502)
(28,795)
(7,321)
24,958
**432,497**
431,994
4,553
6,324
**437,050**
438,318
**2021**
2020
**£**
£
-
3,592
3,367
4,055
3,367
7,647
**2021**
2020
**£**
£
2,561
3,750
2,561
3,750|
|---|---|---|
## **12 Fixed asset investments**
## **13 Debtors**
## **14 Creditors**
15
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **15 Movement in funds**
## **For the year ended 31 January 2021**
|**Restricted funds**
Building and Repair Fund
Endowment Fund
**Unrestricted funds**
Revenue funds
Executive Trustees of SMRT
Designated Fund - Asset Management Plan
Designated Fund - Discretionary
Designated Fund - Emergency fund
**Total funds**|**Gains/**
**At 1 Feb**
**(losses) on**
**At 31 Jan**
**2020**
**Income**
**Expenditure**
**Transfers**
**Investments**
**2021**
**£**
**£**
**£**
**£**
**£**
**£**
21,393
177
-
-
-
21,570
377,432
-
-
-
(769)
376,663
398,825
177
-
-
(769)
398,233
38,387
14,762
(9,361)
-
-
43,788
316,178
32,669
(87,766)
-
-
261,081
103,000
-
-
-
-
103,000
554
-
-
-
-
554
84,000
-
-
-
-
84,000
542,119
47,431
(97,127)
-
-
492,423
940,944
47,608
(97,127)
-
(769)
890,656|
|---|---|
## **Restricted Funds**
The Building and Repair fund is a restricted fund subject to the specific trust that income from it is used to provide for the maintenance and repair of the school buildings. The capital is to be maintained at £10,000 out of the income of the charity, if necessary.
The Endowment fund is a form of restricted fund which must be retained as capital, producing an income for the general purpose of the charity which may be spent at the discretion of the Trustees.
## **Unrestricted Funds**
Income from lettings, grants, donations, less expenses from the Executive Trustees fund held for the general purposes of the charity, which may be spent at the discretion of the Trustees.
Revenue Funds are from bank interest and cover the support and governance of the charity.
## **Designated Funds**
The Asset Management Plan is supported by a "sinking fund" set up with a transfer of £70,000 from historic funds, a further £10,000 in 2013 and then £23,000 in 2014 and is to cover long-term improvements to the school buildings.
The Discretionary Fund was set up with a transfer of £5,000 from funds in 2013 and is for discretionary payments to St Mary Redcliffe Primary School and others.
The Emergency Fund was set up with a transfer of £52,000 from historic funds, then a further £10,000 in 2013 and then £22,000 in 2014 and is to be used to meet shortfalls in any areas not covered by the trust deed.
16
**ST MARY REDCLIFFE WITH TEMPLE EDUCATIONAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 JANUARY 2021**
## **15 Movement in funds** _**(continued)**_
|**Prior year comparatives**
**For the year ended 31 January 2020**
**Restricted funds**
Building and Repair Fund
Endowment Fund
Total Restricted funds:
**Unrestricted funds**
Revenue funds
Executive Trustees of SMRT
Designated Fund - Asset Management Plan
Designated Fund - Discretionary
Designated Fund - Emergency fund
Total Unrestricted funds:
**Total funds**|**Gains/**
**At 1 Feb**
**(losses) on**
**At 31 Jan**
**2019**
**Income**
**Expenditure**
**Transfers**
**Investments**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
21,213
180
-
-
-
21,393
353,518
-
-
-
23,914
377,432
374,731
180
-
-
23,914
398,825
28,354
16,959
(6,926)
-
-
38,387
249,665
142,573
(76,060)
-
-
316,178
103,000
-
-
-
-
103,000
554
-
-
-
-
554
84,000
-
-
-
-
84,000
465,573
159,532
(82,986)
-
-
542,119
840,304
159,712
(82,986)
-
23,914
940,944|
|---|---|
## **16 Analysis of net assets between funds**
|**As at 31 January 2021**
Unrestricted Funds
Restricted Funds
Endowment funds
**Prior year comparative**
**As at 31 January 2020**
Unrestricted Funds
Restricted Funds
Endowment funds|**Net Current**
**Total**
**Investments**
**Assets**
**2021**
**£**
**£**
**£**
178,501
313,922
**492,423**
11,041
10,529
**21,570**
247,508
129,155
**376,663**
437,050
453,606
**890,656**
**Net Current**
**Total**
**Investments**
**Assets**
**2020**
**£**
**£**
**£**
175,557
366,562
**542,119**
11,825
9,568
**21,393**
250,936
126,496
**377,432**
438,318
502,626
**940,944**|
|---|---|
17