|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|
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|||||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)|
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|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|
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|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|
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|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|
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||||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||||||||||
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|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|
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|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|
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||||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|
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|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|
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|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|
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