Katharine Lady Berkeley’s School Foundation 

Registered Charity No. 311706 


## Trustees’ Report for the Year Ended 31 July 2021 

**Governors of the Foundation and Trustees** of the charity during the year were: 

Mrs Margaret Clarke (Chairman of Trustees) * Mrs Lesley Ann Chase Dr John Edward Cordwell * 

Mrs Jane Helen Kendall Mr Ian Colin Trayling  and Mr Simon Weston * 

**The Foundation** is a permanent charitable trust with income and property derived originally from the assets endowed by Katharine Lady Berkeley in 1384. The Governing Document is Scheme No. 4879S made by the Secretary of State for Education & Science under Section 18 of the Charities Act 1960 and sealed on 10 November 1964. Scheme No. 445S sealed on 18 December 1986 deletes “Grammar” from the title. A Scheme Modification Order, issued by the Secretary of State for Education on 29 July 2011, includes power to sell, transfer or lease property to be held on trust for the purposes of an Academy. The Trustees of the charity are the Governors of Katharine Lady Berkeley’s School Foundation. New Trustees of the charity are appointed by the existing Governors. The Articles of Association of the Academy Trust, Katharine Lady Berkeley’s School (company no. 07696921), replace the Instrument of Government in the Scheme. 

**The Articles of Association** of the Academy Trust entitle the Foundation Trustees to appoint up to six governors of the Academy. Currently three of governors are Foundation Trustees, having a term of office expiring 30 September 2022 (*above). The Academy Trust has determined that membership of the governing body of Katharine Lady Berkeley’s School shall be co-terminus with the Academy Trustees. 

**The objects** of the charity are to provide financial assistance to allow beneficiaries in need of such assistance to pursue their education and to provide facilities at the Academy not normally provided by the funding authorities. The trust owns 3.412 acres of the school site, which is leased to the Academy on a 125-year lease commencing 1 August 2011, as directed by the Secretary of State under paragraph 4 of the Academies Act 2010. 

**In furtherance of these objects** , the trustees invest in equities, managed funds, government stock and cash funds and deposits to generate income and maintain a balanced portfolio. The accumulated income generated allowed grants to the Academy of £38,000, including a special grant of £8,000. A grant. approved to support a student course, awaits confirmation. 

From this financial year management of the portfolio by Rowan Dartington was changed from advisory to a discretionary basis, on a medium risk balanced model. With falling dividends, income decreased by 8 percent whilst net assets increased by 10.7 percent, following purchase of some £754k of investments, funded by sales of £794k. The cost of investment management accounted for £6,852 of administration costs (less an adjustment of -£829 of previous year fees). 

**The reserves held by the Trustees** are in the form of the investments. 

**The Trustees act as custodian** of several small funds designated for the provision of prizes for the Academy, which are invested in the CCLA COIF Investment Fund. 

**Bankers:** NatWest Bank plc, CCLA Investment Management Ltd, Rowan Dartington & Co Ltd. 

Signed:  m Clarke,  Chairman of Trustees, date:   14.09.2021. 

Graham Smith BSc DMS,  Clerk to the Trustees,  20 Parklands, Wotton-under-Edge, Gloucestershire GL12 7LT 01453 842618 klbsfoundation@outlook.com 



## Katharine Lady Berkeley's School Foundation 

Registered Charity No. 311706 

## **Statement of Assets and Liabilities as at 31 July 2021** 

|**2021**<br>£<br>**Assets**<br>Investments: stock<br>1,161,669<br>Investments: cash deposit<br>25150<br>________<br>Investment Total<br>1,186,819<br>Cash held by Rowan Dartington - Note 1<br>41,556<br>________<br>Net Assets<br>**1,228,375**<br>**£**<br>**£**<br>________<br>________<br>3.412 acres of land and buildings vested in the Official Custodian of Charities<br>by Order of the Charity Commission dated 8 September 2020.<br>Known as Katharine Lady Berkeley’s School  Wotton-under-Edge  GL12 8RB,<br>more particularly described in a Conveyance made the 30th May 1964<br>between the County Council of the administrative county of Gloucester (1)<br>The Official Custodian for Charities (2) and the trustees for the time being<br>of Katharine Lady Berkeley's School Foundation (3). Subject to a 125-year<br>lease to the Academy Trust known as Katharine Lady Berkeley's School.<br>Valued for land registration at £5,000.<br>Awaiting registration at HM Land Registry (application reference FB6DB5D<br>recorded by HMLR on 20 October 2020) on transfer to the Official Custodian<br>for Charities.|**2021**<br>£<br>**Assets**<br>Investments: stock<br>1,161,669<br>Investments: cash deposit<br>25150<br>________<br>Investment Total<br>1,186,819<br>Cash held by Rowan Dartington - Note 1<br>41,556<br>________<br>Net Assets<br>**1,228,375**<br>**£**<br>**£**<br>________<br>________<br>3.412 acres of land and buildings vested in the Official Custodian of Charities<br>by Order of the Charity Commission dated 8 September 2020.<br>Known as Katharine Lady Berkeley’s School  Wotton-under-Edge  GL12 8RB,<br>more particularly described in a Conveyance made the 30th May 1964<br>between the County Council of the administrative county of Gloucester (1)<br>The Official Custodian for Charities (2) and the trustees for the time being<br>of Katharine Lady Berkeley's School Foundation (3). Subject to a 125-year<br>lease to the Academy Trust known as Katharine Lady Berkeley's School.<br>Valued for land registration at £5,000.<br>Awaiting registration at HM Land Registry (application reference FB6DB5D<br>recorded by HMLR on 20 October 2020) on transfer to the Official Custodian<br>for Charities.|**2020**<br>£<br>1,077,412<br>25,150<br>________<br>1,102,562<br>7,122<br>________<br>**1,109,684**<br> <br>________<br>________|
|---|---|---|
|**Liabilities**<br>NIL||NIL|





## Katharine Lady Berkeley's School Foundation 

Registered Charity No. 311706 

**Accounting Statement for the year ending 31 July 2021** Restricted Income Funds 

||**2021**|**2020**|
|---|---|---|
|**Income**|||
|Investment Income|41,740|45,367|
|Income re Special Prizes|741|726|
|Income re Wellicome|87|85|
|Income re Sports Fund|181|178|
||__________|__________|
|**Total Receipts**|**42,749**|**46,357**|
||__________|__________|
|**Expenditure**|||
|Headteacher - grants|38,000|65,400|
|Student grants refunded|-975|3,500|
|Headteacher re Special Prizes Income|741|1,438|
|Headteacher re Wellicome  Income|87|169|
|Headteacher re Sports Fund Income|181|352|
|Administration & miscellaneous|7,849|8,405|
||__________|__________|
|**Total Payments**|**45,883**|**79,263**|
||__________|__________|
|**Cash surplus for the year**|**-3,134**|**-32,907**|



|**Notes to Financial Statements**||
|---|---|
|**Note 1- Bank Reconciliation as at 31 July 2021**||
||£|
|Brought forward - Natwest current a/c|42,116|
|Brought forward - Rowan Dartington Capital a/|5,141|
|Brought forward - Rowan Dartington Income a/|1,981|
|Less unpresented cheques<br>-|1,814<br>|
|**Brought forward**|47,423|
|Cash Surplus<br>-|3,134<br>|
|Investment stock sales|793,720|
|Investment stock purchases<br>-|754,018|
|Carried forward - Natwest current a/c|42,435|
|Unpresented cheques|-|
|Carried forward - Rowan Dartington Capital a/c|38,820|
|Carried forward - Rowan Dartington Income a/c|2,736|
|**Carried forward**|**83,991**|





CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
l< C¥T FJrP_WrLy's
On accounts forthe year
ended
Charity n
(rf any)
3 1170
Set out on pages
Respective The charitys trustees are resFKJnsible for the preparation of the accounts in
responsibilities of accordan￿ with the requirements of the Charits'es Acl 2011 ("the Acl-l.
trustees and examiner
The charity s trustees consider that an audit is not required for this year
under section 144 of the Act and that an independent examination is
needed.
It is my responsibility to-.
examine the accounts UfKler section 145 of the Charities Act,
to fdlow the applicable Directions gtven by the Cttarity Commission
{under section 145{5)Ib) of the Acl. and
to stale vthether particular matters have come lo my attention
Basis of independent My examination was carried out in acCOrdaT￿ Wth general Directions given
examiner's statement by the Chanty Commission. An examination indudes a review of the
accounting records kept by the charity and a comparison of the accounts
presented wth those records. 11 also includes consideration of any unusLJal
items or disclosures in the accounts, and seeking explanations from the
trustees cOn￿ming any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit, and
consequently no opinK)n is given as to whether the accounts present a 'true
and fair. view and Ihe report is limited to those matters set out in the
siatemenl below.
Independent In wnnection Wbth my examination, no material matters have come to my
examinerfs statement attention (other Ihan that disdosed below ') which gives me cause lo believe
that in. any matetial respect..
accounting records were not kepl In accordance with section 130 of
the Charities Act or
the accounts do not accord with the accounting records
I have no cotFcems and have come arJoss rm) other matters in connection
with the examinalion to which attentson should be dra￿ in order to enable a
proper understanding of the accounts to be reathed.
. Please delete the words ffn the brackets rfthey do not apply.
Signed:
Date:
10 Scpr JULI
Name-
&< (J
Relevant professional
qualification{sl or body
(if any):
IER
May 2018