COVENTRY SCHOOL EDUCATION TRUST
ACCOUNTS
For the year ended 31 August 2021
r4 1-clllCiS Illebbs
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Annual report for the year ended 31 August 2021**
The Trustees of the Charity are:
Mr. Brendan Connor (Chairman)
Mr. Michael Butler
Mr Christopher Jones Ms Ann Weitzel Dr Caroline Rhodes
Mr Jonathan Thompson (appointed 21/6/21)
Registered Charity number: 504837
Any correspondence should be addressed to the Chairman or Secretary at 15 Queens Road, Coventry, CV1 3EG. The Secretary, who is not a Trustee, is Mrs Jacqui Hammond, Director of Finance and Operations.
The Trust is established with the objective of supporting children of the Bablake and King Henry VIII Senior Schools who are at risk of being unable to continue their education due to unforeseen financial difficulties. This objective was reviewed in the updating of the Charity Trust Deed which was adopted by Trustees and accepted by Charity Commission.
This year has continued to be dominated by the worldwide impact of COVID and its variants. However the impact of the creation of successful vaccines has bolstered market confidence, and in combination with Central Banks support, stock markets continued to perform well despite the adverse environment. The impact of the recent invasion of Ukraine by Russia, and the consequential impact on world economies of the Energy and Food inflation remain a real risk to economic stability and prospects for growth. However Trustees remain confident that the Trust will continue to be able to provide direct support at the current level for the foreseeable future.
The Trustees intend to continue to administer the funds in order to provide financial assistance for pupils being educated within the Coventry School Foundation.
## Brendan Connor
Brendan Connor (Jun 24, 2022 12:26 GMT+1)
Mr Brendan Connor Chairman
> Date: Jun 24, 2022
Page 1
## **COVENTRY SCHOOL EDUCATION TRUST**
## **For the year ended 31 August 2021**
|**Notes**
**£**
**Income**
Investments
47,843
Other interest
**Expenses**
Professional charges
888
Management fees
8,758
Bank charges and interest
3
**Bursaries**
Bablake
37,500
King Henry VIII
37,500
**Deficit for the year**
**Statement of Net Assets at 31 August 2021**
**Assets**
Investments
3
1,434,794
Bank/stockbroker accounts
4
86,759
Accrued income
-
**Liabilities**
Creditors
**Net Assets**
5
…………………………………………….. Trustee
Date:
Brendan Connor (Jun 24, 2022 12:26 GMT+1)
Brendan Connor
Jun 24, 2022|**£**
47,843|**2021**
**£**
47,843
(9,649)|**£**
45,530
1|**2020**
**£**
45,531
(5,450)|
|---|---|---|---|---|
||888
8,758
3||822
4,625
3||
||37,500
37,500||32,694
37,500||
|||38,194
(75,000)||40,081
(70,194)|
||||1,288,087
60,962
-||
|||(36,806)||(30,113)|
|||1,521,553
(900)||1,349,049
(1,782)|
||||||
|||~~1,520,653~~||~~1,347,267~~|
|||||.. Trustee|
Page 2
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Account for the year ended 31 August 2021**
## 1 **Accounting Policies**
The Annual Report and Accounts have been prepared in accordance with the SORP, on a receipts and payments basis, taking advantage of the exemptions available to small charities because the charity is not a limited company and the gross income during the accounting period does not exceed £250,000 annually.
- a) All voluntary income is accounted for gross when received
- b) Investment income is accounted for when received
- c) All expenditure is accounted for gross and when incurred
- d) Bursaries payable are recognised as expenditure when incurred
- e) All investments are stated at market value with cost shown for comparison purposes
Page 3
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Accounts for the year ended 31 August 2021**
|2
**Movement in Investments - Cost**
Cost of Investments at 1 September 2020
Opening cost adjustment
Proceeds from sale of investments
Gains realised on disposals accruing pre 1/9/18
Gains realised on disposals
Accumulation payment
Cost of disposals
Purchase of investments in year
Cost of Investments at 31 August 2021
3
**Movement in Investments - Valuation**
Value of investments at 1 September 2020
Opening value adjustment
Proceeds from sale of investments in year
Accrued income at sale (sale proceeds re-classified as income)
Proceeds of disposals
Unrealised gains in year
Purchase of investments in year
Value of investments at 31 August 2021
4
**Bank/Building Society Accounts**
Quilters Capital Account
Quilters Income Account
Quilters Euro Capital Account
Lloyds Corporate Account
TOTAL|**£**
**£**
1,245,286
(9)
(230,582)
30,513
-
(200,069)
167,106
1,212,314
1,288,087
(10)
(230,581)
(230,581)
210,192
167,106
1,434,794
**Balance**
68,638
9,050
9
9,062
86,759
**2021**|**£**
**£**
1,245,286
(9)
(230,582)
30,513
-
(200,069)
167,106
1,212,314
1,288,087
(10)
(230,581)
(230,581)
210,192
167,106
1,434,794
**Balance**
68,638
9,050
9
9,062
86,759
**2021**|
|---|---|---|
||||
|||1,434,794|
|||**Balance**
68,638
9,050
9
9,062|
|||86,759|
Page 4
5
## **COVENTRY SCHOOL EDUCATION TRUST**
## **Notes to the Accounts for the year ended 31 August 2021 continued**
|**Net Assets**
Represented by:
**Named Funds**
A E Higgs
G C Allen
Courtaulds
Clarkson
H L S Taylor
C B Shore
Hobourn
J & H B Jackson
Eaves & Washbourne
F W Shotton
M Hegan
H W Walker
Tuck Shop
P C Phillips
**General Fund**
Balance at 1 September 2020
Realised (losses)/gains on sale of investments
Balance at 31 August 2021
**Accumulated Income**
Balance at 1 September 2020
Deficit for the year
Balance at 31 August 2021
**Revaluation Reserve**
Balance at 1 September 2020
Rounding adjustment
Transfer realised (gains)/losses to general fund
Unrealised gains/(losses) in year
Balance at 31 August 2021
Net assets as at 31 August 2021|£
£
23,700
15,473
14,000
12,270
10,957
10,418
9,376
7,105
5,075
4,508
3,859
3,137
3,000
2,495
125,373
1,434,189
30,513
1,464,702
(255,096)
(36,806)
(291,902)
42,801
(30,513)
210,192
222,480
1,520,653|£
£
23,700
15,473
14,000
12,270
10,957
10,418
9,376
7,105
5,075
4,508
3,859
3,137
3,000
2,495
125,373
1,434,189
30,513
1,464,702
(255,096)
(36,806)
(291,902)
42,801
(30,513)
210,192
222,480
1,520,653|
|---|---|---|
||||
|||1,520,653|
Page 5
## **Independent Examiner’s Report to the Trustees of COVENTRY SCHOOL EDUCATION TRUST**
I report to the charity trustees on my examintation of the accounts of the charity for the year ended 31 August 2021 which are set out on pages 2 to 5.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b)
- of the 2011 Act); and
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
In connection with my examination, no matter has come to my attention:
1) Which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept in accordance with section 130 of the 2011 Act: and
- accounts are prepared which agree with the accounting records and to comply with the accounting requirements of
- the 2011 Act; or
- 2)
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Richard Condon FCA CTA
Francis Webbs Chartered Accountants Suite 2, Scala Offices 115a Far Gosford Street, Coventry, CV1 5EA
> Date: Jun 27, 2022
Page 6
2022-06-27
## CSET accounts 31.8.21
## Final Audit Report
Created: 2022-06-24 By: Richard Condon (richard.condon@franciswebbs.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAxYegzxNbWdIZr5RcfGisSL0IZzpG82l0
## "CSET accounts 31.8.21" History
## Document created by Richard Condon (richard.condon@franciswebbs.co.uk)
2022-06-24 - 10:14:49 AM GMT- IP address: 81.149.90.97
## Document emailed to connorbrendan@btinternet.com for signature
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## Email viewed by connorbrendan@btinternet.com
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## Document e-signed by Brendan Connor (connorbrendan@btinternet.com)
Signature Date: 2022-06-24 - 11:26:18 AM GMT - Time Source: server- IP address: 5.80.32.219
- Document emailed to chriskundert550@gmail.com for signature
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## Email viewed by chriskundert550@gmail.com
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## Document e-signed by C. Jones (chriskundert550@gmail.com)
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- Document emailed to Richard Condon (richard.condon@franciswebbs.co.uk) for signature 2022-06-27 - 9:15:58 AM GMT
Email viewed by Richard Condon (richard.condon@franciswebbs.co.uk) 2022-06-27 - 9:16:33 AM GMT- IP address: 81.149.90.97
Document e-signed by Richard Condon (richard.condon@franciswebbs.co.uk) Signature Date: 2022-06-27 - 9:18:18 AM GMT - Time Source: server- IP address: 81.149.90.97
## Agreement completed.
2022-06-27 - 9:18:18 AM GMT