Marshall's Educational Foundation Cli8Kili No. 312516 Financial Statements for the year ended 31 st December 2020
Marshall's Educational Foundation Index IvernOrS and OffKer............................... . Report of the Govemors..... .2&3 Stslement of Financial Adiwbes................ Balance Sheet................... .. .. Report of the Ind8p8nd8nt Examiner....
Marshall's Educational Foundation Govèrnors and Officer GOVERNORS Sil Goverrws may be appoinled by Marshalls Charity. Two may be appointed by Sl 018ve's & St Saviour s Grammar School Foundation [') The term of office is for three years. Mr C Ledsam The Very Revd A Nunn Mr W Eason Mr J Heawood Mrs T $tter00 Mi55 E Lang Chairm¢*n STAFF - Clerk to the Govemors Mrs C de Cinlr8 PRINCIPAL OFFICE Marshall House 66 Newcomen Street London SE1 1YT Tel e-mail.. 020 7407 2979 catherine@marshalls.org.uk INDEPENDENT EXAMINER Lee Stokes FCA Haysrnaunlyie LLP 10 Queen Slreet Place. London EC4R 1AG
Marshall's Educational Foundatlon Report ol Ihe Governors for 2020 1. Background and Objecllves of tho Foundatlon The Foundation has rts origins w) the Will of John Marshall. a vthitebaker in southark. died in 1631. In that Will, he created a trust which has become known as Marshall's Charty, and which eontinues to own subslanlial assets and mainly provides granls for the support ofthe Church of England and the Church in Wales. In 1880. the Educational Foundation was separalelyconstituled a5 a Charlty, and continues as such to Ihls day. In accordance with the original Scheme, as amended, the Foundation is wholly funded by Marshall's Charty, which is required to make available 4% of its n&t income each year. The Foundation disposes of its income on the f10ing basis: al In 8rdance with the Scheme. one-lhird of its available income is given lo Stamford Endowed Schools. to be used by them for the support of the sludents at those schools at the discretion of their Principal. bl The remaining income is then used to make grants for educational purposes to Indimduals. who are native of Soulhw8rk, and with a preference for those students lea7ng Si Saviour's & St Olave's hool. In 2019 this objective has been met through awarding grants to Individuals for their teTtiary educathon. In 2014 the Governors initiated a remewof the grant-making acts.ltieS of the Foundation ond Ihls was completed in eady 2015. The Foundation has had 8 long relationship with St Olave's & St Saviour's Grammar Schcol, which was historically 10¢8ted in Southwark. bjt is now based in Orpington. In consullalion with the Charity Comrnission the Govemors agreed that John Marshall's primary conc8m was for young people in north Soulhwark and therefore the Foundation ne8d8d to establish links to Southwark schools. Over the past few years the Foundation has forged a link with the sister school of St Olave's & St Saviourfs Grammar Schod, namely Sl Saviourf8 & St Olave's School, a girls, comprehensive located on the New Kent Road in London. Students of Sl 018ve'$ & St S8wourfs Grammw School who are resident in Soulhwark M31n eligible to apply for grants from the Foundation. Publ1¢ Benefit The objects and purposes of the Foundation are set out in the first paragraphs of this Report. Th8 Governors confirn that they have referred to the Charty CommissKJn's general guidance on public benefrt wh8rTr reviewing the Foundation's aims and objectwes and in p18nning future activiti'es and settlng the granl-making policy for the year. 2. Structurn, Govornance & Govemors, Responslbllttles The Foundation 15 govemed by a body of Govemors acting under the lemis of a Scheme made by th8 Minist8r of Education under secb.on 18 of the Ch8rilies Act 1960, as Supplemented by various Schemes of the Charity Commissioners. All Govemors serve on the Gen8ral Committee, and there are no sub-comrnittees. None of th8 Govemors reiVeS any remuneralic) or benefit frorn Ihe Foundation. The law applicable lo chle5 in England and Wales requires the Governor5 to prepare finanryal slalements for each financi81 year which give a true and fair view of the 5tat8 ofaffairs of the Foundation and of the incoming resources and 8pplic81ion of resources of the Foundation for that period. In preparing these financkql slalemenls the Govemors 8Te qUire[j to: sethl suitsble accwnting policies and apply them con5iStenlly.' ¢)bseNe the methods and principles th8 Charities SORP.. makejudgements and estimates that are rea59nable arKI prudenL stste ether apF4icable aco>Junting standards have been followed, subi8ct to any material d8pai1ures i*sdosed and explained in the financial statements.,
Marshall's Educational F¢)undatlon Report oflhe Governors for 2020 prepare the financr81 statements on1he wlng corw bass lesS it is in¥propriate to Fxesume Ihat the charity wll conbnue in bu$ine5S. The Goverrors are responsible for keeping accounthng records whh disclose with re8son8bl8 accuracy at any lime the financial position of the Foundation and enable them to ensure that financial statements comply wlh the provisions of the Scheme and applicable law. They are also responsible for safeguarding the 8ssels of Ihe Foundation 8nd hence for taking reasonable steps for the prevention and detection of fraud 8nd other irregularTties. 3. Reviow of Activities and Futurn Plans The Foundation seeks lo distribute all of ils incom& lo beneficiaries, within the eonstraint Ih8tthe exact allocation from Marshall's Chafrty is not known until after the annual Govemors. Meeting in October to allocate the gronts. The funds made available lo Stamford Endo Schools are used by them to grant scholarships and exhibitions lo students, as well as supporting school exchanges and travel opportunities for their students logolher Wkth w)8ral support for students unable lo meet the full cost of the actiwties. Follo19 th8 policy estsblished in 2015, the Governots awarded grants lo pupils going on to tertiary education arKI committed to supporting the students for the three to five years of their course. Each student was awarded a grant of £600 per year for the duration of their course. totaling £10,800 over three years for six students, £4,800 over four years for h¥0 students and £3.000 over fNe years for one studenL The decision took account of the students, potential and commrtmenl and each student who was awarded a grant had a strong supporting statement from St Saviourfs & Sl Olave's School. In 2020 0 total of £18,600 was m&Je av8i18ble to 9 sludenls going onto twtiary educalion (2019- £24,(oo to 13 slud8ntsJ. The impact of CoMd-19 has been limited. The charity is admini$tered by staff from Marshall's Charity and they have mainly been working remotely since March 2020. How8ver, grants are applied for. awarded and paid for through online syEtems and these have continued to function well and are expected to continue to do so. 4. Roswves Policy Because the Foundat1 has no fixed costs, and all grants are charged at the time of the Meeting to approve them, the Governors. policy is Ihal no reserves are n8cessary other Ihan those arising from minimal a)nual variaknons betsveen income an¢J exp8nditure. Approved by the Govgmors and aulhorised for issue on 21 Octcl)er 2021 and signed on their beh8 Chalrman
Mar3hall's Educational Foundation Siatemenl ol Financial Activities for Ihe year ended 31 sl December 2020 2020 2019 Inwmfr from." John Marshall's Chatlty 29.311 Exp•ndltur• on.. Support ¢osts Bank account lee Indep8ndenl ExorninBti¢)n fee ICO fee Cbth's salary 21 1.106 21 Charltable expendlture- 9rant• Stamford Endowed Schw1$ .11,993 St Sawoufs & St Olave'8 Sthool Univètsity entrant awards 18,eAx) 24.(NX) 28.370 T¢)tal oxp•ndllur• 129876) 137 Not •urplu¥lld*fi¢itl for th• yev (165) bal¢$ broughtfoward 16.764 19. Fund balahees carrled fobward All Ihe above amounts rei8tg to ¢¥nlinuing actNi18s and indude 811 reco9ni5ed gains And bsses. A¢¢ounlln Il¢hs The Foundalon has no restricted or endowed funds. The accounts comply wrfh Ihg Charltiès Act 2011, the Stslemoni of Recommended PraCtice'ACuntin9 and Reporting by Charities" and applie8blè acLounting siandarth. Grants are treated as pendItUre when authorisgd by the Govemors, not en Ihgy ar8 paKI. Desplte Covld 19, the Govemors cnSider that thgre are no matwial uncertainties abotrt the charity's ability to continue as a going concern dutr to thè robust finan of IAar5hall's Charlty, the provider of ils incom8. C(wemor receives any remuneratvjn frn the Charity, nor werg any expenses reimbursed to (knverTh)rs by payment to a thi party12019- non81. There were no related party transactit)ns during the year.
Marshall'8 Educational Foundation Balance Sheet at 31112120 2020 2019 Curnnt Ats•ts Debtors Cash 8t Bank 31.645 29.175 .820 Crndltois: Amounts falllng du• wlthln on• >ar St Savkurts & St Olave's School University entrant awards 2017 St SavSourts & St Olave'$ School Universily entrant award5 2018 St Saviourfs & St Olave's Sthool Univetsity entrant awards 2019 st Sa¥iou¢s & St Olave's School Universty entrant awards 2020 St Saviourfs & St Olave'5 School F*adteÈther's Fund stamlord EThJowed S¢01$ other (S)rS 13,400 6,751 12,500 -.7,128 1gJ,921) 120, N•t Cwr•rtAss•ts 29,899 Crndltors: Amounts falllng du• after nhjre than ona ywr St Saviourfs & St Olav8'5 Sthjol Univwsty entrant aw74d5 113.300) 113, TOTAL NET ASSETS FUND8 Unrostrict•d Funds bff Re$ts to date 16,764 11651 19.0 Unrestrlcted Funds Approv•d by the Governors 8¥¥J aJJth)rised for issue on 21 Octob8r20218nd 5vJned on Iheir tshalr: Chairrn8n
INDEPENDENT EXAMINER'S REPORT TO THE GOVERNORS OF MARSHALL'S EDUCATIONAL FOUNDATION I report lo the Govemcrt on my ex8mination of the accounts of Marshall's Educational FndatI)n for the year end8d 31 D8cember 2020 which are sel out on pages 4 and 5. RoSP•¢tlv• r•sponsibilities of trustees and èxaminer The Govemors are responsible for the prep8rati¢M of the accounts in 8ccord8nce the requirements of th8 Charities Act 20111.the 2011 Act'l. The Govemors are satisfied that an audit is not required for this year under section 144(2} of thè ch8riti.es Act 2011 (the 2011 Artl and have chosen instead to have an independent examinatn. I report in respect of my examin8th)n of the Trust's accounts as carried out under sedion 145 of the 2011 Act. In rryIng ¢Jut my examin81ion I have fcllowed the requirements Ot the applScable Directions given by the Charity Commission under section 1445llbl of the 2011 Act. Indopendent examinovs statement I can confimi that l am qualified to undèrtake the examination becausè l am a resislered member of ICAEW which is one of the listed bodies. I have completed my examlnakn. I confimi Ihat no matters have come to my attenthon giwng m6 cause to believe that in any material respect.. accounting records were not kept in respect of the tharity as required by section 130 of the 2011 AGt', or 2. ihe accounts do not accord wth those records,. or 3. the accounts do not MplY with the applicabkg requirements conceming the fomi and con18nt of accounts sel out in the Ch8ri1igs (Accoun15 and Reports) Regulations 2008 otherthan any requirement that the accoun15 give a true and fair view which Is not a matter considered as p8rt of an Indepdent examination. I have no concems and have come &ross no other malt8rs in connection w4th 1he examination to leh attention should be dr8wn in Ihis report in order lo enablea proper understanding ofthe accounts to be r8ached. Lee Stokes FCA Haysm&intyre LLP, 10 Queen Street Place London EC4R 1AG Date: 21 October 2021