2021-03-31-accounts

THE SKINNERS'	ACADEMY FOUNDATION	ACADEMY FOUNDATION
CONTENTS			Page
Report ofthe Trustee			1-4
Independent examiner's		report to the trustee
Statement offinancial		activities
Balance sheet
Notes to the financial	statements		8-14

				2021	2020
Resources	expended
Charitable	Activities			72,252	81,584
Other
				72,252	81,584
Incoming	resources
Voluntary	income	—Donations		50,500	22,500
Investment	income	—Dividends		33,836	40,971
			-Interest	213	1,126
				84,549	64,597
(Deficit)/su	rplus for		the year	12,297	(16,987)

Bankers	and	professional	advisers
Bankers				Royal Bank ofScotland PLC
				City Of5ce
				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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				2021		2020
			Notes
Fixed assets
Academy Land k Building					1,833,334		1,833,334
Endowment	fund investments				833,350		812,542
Endowment	investments	—Academy			2,815,779		2,480,329
Restricted fund investments					16,052		13,121
					5,498,515		5,139,326
Current assets
Debtors			10	21,759		21,135
Cash at bank				603,050		498,491
				624,809		519,626
Liabilities
Amounts falling due within
one year				(10,031)		(9,357)
Net current	assets				614,778		510,269
Amounts falling due after		more than one year			(42,312)		(49,092)
Net assets					6,070,981		5,600,503
FUNDS
Endowment	Funds General				2,666,858		2,646,050
Endowment	Funds Academy				2,816,457		2,478,926
Restricted funds Academy					603,569		507,352
Restricted Prize Funds					27,569		23,944
Unrestricted	Funds				(43,472)		(55,769)
			12		6,070,981		5,600,503

2	Voluntary income
					2021	2020
	Donation from Lawrence Atwell Charity				12,500	12,500
	Donation &om Skinners Malmesbury			Foundation	38,000	10,000
					50,500	22,500
3	Investment income
					2021	2020
	Dividends				141,486	148,149
	Interest				420	2,452
					141,906	150,601
4	Expenditure
	Charitable activities				2021	2020
	Grants to Academy					98,585
	Salaries, national insurance,		etc		63,749	60,193
	Independent Examination				1,600	1,569
	Office accommodation				8,700	8,820
	Insurance				590	550
	School Governors' meeting		and training	expenses, etc (note 6)	5,671	3,125
	Travel (note 6)				56	1,343
	Printing, postage and	telephone			526	541
	Bank charges				33	20
	Legal and professional	fees				11,527
	Prize giving expenses					180
	Academy hospitality					1,685
					80,925	188,138
	Governance costs included		in above:
	Salaries, national insurance,		etc		9,562	8,875
	Independent Examination				1,600	1,569
	Printing, postage and	telephone			79	81
	Bank charges				33	20
	Office accommodation				1,305	1,323
					12,579	11,868

Academy land and buildings
	2021	2020
At 1April 2020	1,833,334	1,833,334
Addition —Academy
Disposal - Academy
At 31March 2021	1,833,334	1,833,334
Depreciation
At 1 April 2020
Charge for the period
Disposal
At 31March 2021
Net book value
At 31March 2021	1,833,334	1,833,334

			Undesignated	Undesignated	Restricted	Restricted	Endowment	Endowment	Total funds
				Funds	Funds	Funds	Funds	Funds
						Academy	General	Academy
Income from:
Donations and legacies				22,500					22,500
Investments				42,097	894	107,610			150,601
Total income and endowments				64,597	894	107,610			173,101
Expenditure on:
Raising funds				2,310					2,310
Charitable activities				79,274		108,864			188,138
Total resources expended				81,584		108,864			190,448
Unrealised loss on	investments				(3,636)		(63,429)	(147,742)	(214,807)
Net deficit				(16,987)	(2,742)	(1,254)	(63,429)	(147,742)	(232,154)
Transfers between funds
Net movements in	funds			(16,987)	(2,742)	(1,254)	(63,429)	(147,742)	(232,154)
Balances brought	forward	at	1	(38,782)	26,686	508,606	2,709,479	2,626,668	5,832,657
April 2019
Balances carried	forward	at	31	(55,769)	23,944	507,352	2,646,050	2,478,926	5,600,503
March 2020

9	Investments and unrealised gains
					2021	2020
	Endowment Fund - General
	Market Value at brought forward				812,542	875,971
	Additions
	Disposais
	Unrealised gain/(loss) in portfolio				20,808	(63,429)
	Market Value at 31March 2021				833,350	812,542
	Endowment Fund - Academy
	Market value brought forward				2,480,329	2,630,188
	Additions
	Disposals
	Unrealised gain/(loss) in portfolio				335,450	(149,859)
	Market Value at 31March 2021				2,815,779	2,480,329
	Restricted Fund
	Market Value brought forward				13,121	16,757
	Additions
	Disposais
	Unrealised gain/(loss) in portfolio				2,931	(3,636)
	Market Value at31March 2021				16,052	13,121
	Total Market Value ofInvestments	at31March	2021		3,665,181	3,305,992
	As at 31March 2021 the charity held	the following	material	investments
					Market	%of
					value	portfolio
	Investment
	COIF Charities Investment Fund Units				1,291,281	35.2
	Schroder Charity Multi-Asset Fund				917,673	25.0
	Patrizia Hanover Property Unit Trust				606,825	16.6
	Properties Income Trust for Charities	Units			290,497	7.9
	Charities Property Fund Units				281,263	7.7
	M&G Charifund Units				277,642	7.6
10	Debtors
					2021	2020
	Prepayments				391	446
	Accrued income				21,368	20,689
					21,759	22,135

LiabiTities
	2021	2020
Independent examination Other creditors	1,600 1,651	1,560 1,017
Long term loan due within one year Total creditors due in less than one year	6,780 10,031	6,780 9,357
Long term loan due after more than one year	42,312	49,092
	52,343	58,449

			Endowment	Endowment	Restricted
		Unrestricted	Restricted	fund	fund	fund
		fund	prize fund	general	Academy	Academy	Total
Academy	land &
buildings				1,833,334			1,833,334
Investments			16,052	833,350	2,815,779		3,665,181
Net current assets less		(43,472)	11,517	174	678	603,569	572,466
long term	liabilities
Net assets		43,472	27,569	2,666,858	2,816,457	603 569	6070981

omparati	ve figures	for allocation	ofnet assets	to funds for ye	ar ended 31M	arch 2020
			Endowment	Endowment	Restricted
		Unrestricted	Restricted	fund	fund	fund
		fund	prize fund	general	Academy	Academy	Total
Academy	land &
buildings				1,833,334			1,833,334
Investments			13,121	812,542	2,480,329		3,305,992
Net current assets less		(55,769)	10,823	174	(1,403)	507,352	461,177
long term	liabilities
Net assets		55,769	23,944	2 646050	2,478 926	507,352	5,600,503

Revaluation reserves	Revaluation reserves
Included within the funds in note 12are revaluation		reserves with the following	values:
				2021	2020
Endowment	fund —Quoted securities			245,136	224,328
Endowment	fund Academy —Quoted securities			814,333	476,802
Restricted	fund - Quoted securities			12,823	9,892