## THE QUEEN ELIZABETH ACADEMY CHARITY ## Charity number 51642 ## CHAIR’S REPORT YEAR ENDING 31ST. MARCH 2023 2022/23 has been a busy year with regards to writing and completing forms. Jo Bickley having taken over as our Treasurer entailed a series of new mandates as signatory but all were successfully sorted out. Trustees unanimously agreed to consolidate our investments taking into account past performance etc. and this entailed closing three accounts (CAF, Blackrock and a small investment with NS & I). The majority of these released funds were immediately reinvested with CCLA and the remainder of the funds ( approx £11000) kept in our HSBC current account to offset future grant requests. We have financed grants totalling £39,366 with £12,750 going towards funding of the student counsellor, an ongoing commitment. All grant requests are considered by all 6 trustees. We also have other ongoing commitments, for example funding a supply of uniform and shoes for those pupils in need, the student awards programme and a learning enhancing IT system for the English department. Communication with trustees is generally via e.mail, all trustees happy with this. The Acting Clerk (me) also has meetings with the Treasurer as needed. The six trustees include two retired teachers, one now being a school governor and the other a town councillor, a county councillor, a previous PA to the Academy principal, the Academy Principal himself and myself, a retired police officer. We have attempted to locate a new Clerk without success but I am happy to continue until such time a replacement is found. We have a straightforward system re the issuing of grants with a specified form submitted by the staff members requesting the grants, giving reasons for the request and the benefits. These are considered by all trustees then the result notified by e.mail to the Academy via the principal’s PA. Cheques are then issued in due course when invoices are received. The Principal updates the trustees on the ongoing benefits of the grants we have made and trustees are able to call in at the academy should they wish to view any of the items financed. General committee meetings, when needed, and the AGM, are also held at the academy. During the year, a new Policies and Procedures document in line with Charity Commission requirements was approved by all trustees and will be reviewed every three years. We look forward to continuing to assist the academy. Hugh Nethercot Chair QUEEN ELIZABETH ACADEMY CHARITY REGISTERED CHARITY NO. 516412 STATEMENT OF ACCOUNTS FOR THE YEAR NDED 31" MARCH 2023 Scr¢atons Ltd. Chartered Accountanls Former Atherstonc College Ratcliffe Road ATHERSTONE Warwiekshire CV91LF INDEPENDENT EXAMINERS, REPORT TO THF. TRIISTEES OF QUEEN ELIZABETH ACADEMY CHARITY I report on the accounts of the Trust for the year ended 31" Mar¢h 2023. Respective Responsibilities of Trustees and Examiner The charity'5 trustees are responsibl¢ for the preparation of the accounts. Tlie chai'ity's trustees consider that an audit is not required for this yeai. (under section 43(2) of the Charities ALt 1993 (Ih¢ 1993 Aot)) and that an independent examination is needed. It is my r¢sponsibility lo.. Examin¥ Ihe accounts (under section 43(3Ma} of the 1993 Act. To follow Ihe pio¢edures laid down in tlie General Directions given by the Charity Cominissioners (under section 43(7)(b) of the 1993 Act). and To state whether particular matters have come to my attention. Basis of Independent ExAminers' Report My examination was carried out in awordance with the Genei'al Directions given by the Charity Commissioners. An examinxlion includes a I'eview of the aCLuunling I'ecoi'ds Iccpt by the charity and a comparison of the accounls presented with those records. It also includes COl)sideration of any unusual ilems or disclosui'es in the accounts. and the seeking of explanations from you as trustees concerning any such matters. The procedures underlakeii do not provide all tlie evidence that would be I'equired in an audit and, consequently. I do not express ali audit opinion on the view given by the a￿ountS. Independent Examiners, Statement In coniiection with niy cxamination, no matter has come to Iny attention: l. Which gives rne reasonable cause to believe that, in any material respect. th¢ requirements: to keep accounting records in accordance with S41 of the 1993 Act- and to prepare accounls whi¢h accord with Ihe accounting records and to coinply willi tlie acwunting requirements of the 1993 Act have iiot been met. or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of thc accounts to be reached. -Ua Ild. Screatoiis Ltd. Chartered Accountants Institute of Chartered Aecountants in England & Wales Former Aiherstone College, Ratcliffe Road, Ather5tone, Warwickshire. CV9 1 LF 18 September 2023 QUEEN ELIZABETH ACADEMY CHARITY (516412) RECEIPTS & PAYMENTS ACCOUINT For the year ended 31s1 March 2023 Recei CAFIIFSL - Fund Withdrawal Quilter- Incotne BlackRock - Fund Wiihdrawal BlackRock - Income COIF- (CCLA) - In¢ome IFSLJCAF NS & I - Fund Withdrawal M&G (Cyril Collilns Bursary Holding) - Income 85.402 22,677 5,520 227 1,025 2.164 1,081 22 118.118 ments COIF Investment Orants Paid School Counsellor Accounts Review Bank Charges 80,0(K) 26,616 12,750 360 119,792 -1,674 Deficit for ihe Year Quilier Quarterly Management Charge inc VAT 3010612022 3010912022 3111212022 3110312023 1,913 1,855 1,813 1,783 7,364 QUEEN ELIZABETH ACADEMY CHARITY (516412) BALANCE SHEEI T For the year end¢d 31st March 2023 2023 2023 Current Assets HSBC Bank account 27,032 27.032 Financed B Receipts & Payments Account Designated Reserves -1,674 28,706 27,032 Market Value of Investments al 31st Mareh 2023 Quilter Portfolio Black Rock CAF CCLA National Savings (Est.) 792,115 116,348 908,463 LESS Due to CCB China Exchange Fund 574 907,889 Grants approved but not paid by 31103123 907,889 Trustee Date